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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 to End 2018 With 80% Drop, What Investors Should Expect in 2019: Following one of its biggest bull rallies in history to $19,500,Bitcoin (BTC)is set to end 2018 with an 80 percent drop from its all-time high.
As Bitcoin enters 2019 with a bear market status having suffered a steep sell-off in December, what can investors expect in the first two quarters of 2019?
In the first quarter of next year,Bakkt, a cryptocurrency liquidity provider and exchange operated by the New York Stock Exchange’s parent company ICE, is set to launch a Bitcoin futures market.
In late 2017,CBOEandCME, two major futures market operators in the U.S., launched strictly regulated Bitcoin futures markets. But, they both are cash-settled markets that have minimal impact on the short-term price trend of digital assets.
According to Jake Chervinsky, a government enforcement defense and securities litigation attorney at Kobre & Kim, Bakkt is a physically settled Bitcoin market thatguaranteesthe delivery of BTC to its investors.
The Bitcoin-settled market of Bakkt could have a significant impact on the price of the dominant cryptocurrency as it will have an effect on the circulating supply of BTC.
He explained:
Also noteworthy is the fact that Bakkt will custody and deliver real bitcoin. That means institutional inflows would reduce supply and thus (maybe) increase price too. This is different from other regulated futures markets like CME and CBOE, which only deal in cash-settled futures.
The potential effect on theBitcoin priceby Bakkt wholly depends on the demand from U.S. customers the company sees in the first several months of 2019.
Although Bakkt has already become a major catalyst for the recovery of BTC in the minds of many investors, the demand for Bakkt still remains uncertain, and it is possible that due to the recent sell-off, the market does not see a level of interest it initially expected.
It is still too early to determine whether Bakkt could contribute to a meaningful increase in the price of BTC in the mid-term. But, the launch of the first physically-settled Bitcoin futures market in the U.S. is positive for the sector and for the institutionalization of crypto assets as an asset class.
Nasdaq is also set to launch a Bitcoin futures market following the launch of Bakkt, around the timethe U.S. Securities and Exchange Commission (SEC)will announce its decision on the VanEck-SolidX Bitcoinexchange-traded fund (ETF)filing.
As pro-crypto SEC Commissioner Hester Peirce said, the approval of aBitcoin ETFcould take days or years, and investors should not wait on it.
“Don’t hold your breath. I do caution people to not live or die on when a crypto or bitcoin ETF gets approved. You all know that I am working on trying to convince my colleagues to have a bit more of an open mind when it comes to [crypto]. I am not as charming as some other people,” shesaid.
Regardless of the ETF, the price of BTC will continue to move based on a cycle. In 2018, the industry has seen some of the most positive developments in recent years, yet it had minimal impact on the price of the asset.
Historically, the asset has taken about 62 weeks on average to recover from a major correction. Analysts generally expect Bitcoin to undergo a gradual recovery by the end of the second quarter of 2019.
Featured Image from Shutterstock. Price Charts fromTradingView.
The postBitcoin to End 2018 With 80% Drop, What Investors Should Expect in 2019appeared first onCCN. || Bitcoin Cash Slips 11% as Crypto Market Starts Week with $6 Billion Loss: The light at the end of the tunnel could be a train.
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. || Forex Daily Outlook – December 14, 2018: The Euro continued to trade sideways during the Thursday’s session, as the market looks confused with the Federal Reserve’s stance and some of its comments lately on the interest rate hike. Also, liquidity in the market gets dried up particularly in this time of year which makes the market to trade in a narrow range. The 1.13 level underneath and 1.1450 level above will be the major support and resistance point for the market.…Read More
The British Pound rallied a bit during yesterday’s session but is likely to experience significant resistance above as both 200 Day EMA line and 1.27 level has turned resistive. Going forward the market will continue to be choppy because despite the confidence victory by Teresa May, the Brexit situation still remains the same. The 1.25 level underneath should offer strong support that extends down to 1.22 level.…Read More
The AUD tried rallying higher during the yesterday’s session but the 0.7250 level offered a strong resistance. Rallies in the market are getting sold-off immediately which is negative for the pair. The market is largely affected due to the worsening US-China trade relations as a major part of the Australian export goes to China. The market is expected to continue consolidating between the 0.70 and 0.7250 level.…Read More
The USD rallied slightly higher during the yesterday’s session towards the 114 level, which is a crucial more than once and continues to witness a lot of resistance. Lack of liquidity in the market in this time of the year keeping the pair in a range bound movement. Ultimately, this pair has a strong support at the 112 level underneath and if it breaks below, then it can break down to the 110 level.…Read More
Thisarticlewas originally posted on FX Empire
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• Forex Daily Outlook – December 14, 2018
• Technical Update For US Equity Indices: 14.12.2018 || Report: Crypto Exchanges in South Korea Scrambling to Survive as Bear Market Hits Hard: bithumb bitcoin crypto exchange south korea According to a local publication Blockinpress , crypto exchanges in South Korea are struggling to adjust to changing market conditions and the 14-month-long correction. Since January 2018, the global crypto exchange market has seen a rapid decline in volume. With the exception of Bitcoin and Ethereum, the majority of both major digital assets and tokens have seen a 50 to 90 percent decline in daily volume. Source: CoinMarketCap.com Local Crypto Exchanges Considering Laying Off Employees The report revealed that the country’s largest exchanges in the likes of Bithumb and Korbit are evaluating voluntary resignation of at least 10 percent of their employees. Read the full story on CCN.com . || Bakkt Makes Initial Hiring Push for Bitcoin Futures Exchange: Ahead of its hotly anticipated launch, bitcoin futures exchange Bakkt has launched a hiring campaign. Eight new job posting were published Tuesday on the company’s website. Bakkt is looking for several experienced software developers, including mobile and blockchain developers; an institutional sales manager with experience in North America or Asia; and three higher-level positions including a director of finance, director of security engineering and director for blockchain engineering. An institutional-grade regulated exchange for crypto derivatives founded by the Intercontinental Exchange (the New York Stock Exchange’s parent company), Bakkt was expected to go live on December 12 last year, but the launch was postponed twice. Bitcoin Futures Market Bakkt Makes Its First Acquisition It was initially delayed to until January 24 , with the company citing a need for “additional time for customer and clearing member onboarding.” It is now delayed indefinitely while the exchange waits for the Commodity Futures Trading Commission (CFTC) to grant an exemption for Bakktâs plan to custody bitcoin on behalf of its clients. The ongoing government shutdown  has contributed to the delay. The CFTC needs at least 30 days for a public comment period, plus however much time may be needed to review the comments and make a decision once this period concludes. It is unclear when this comment period may begin. However, Bakkt’s team hasn’t been sitting idly by waiting for the green light: it closed a $182.5-million funding round and acquired “certain assets” belonging to Rosenthal Collins Group (RCG), an independent futures commission merchant, earlier this month. The deal, involving RCG’s staff and technology, was supposed to help Bakkt improve its risk management, anti-money-laundering (AML), know-your-customer (KYC) and treasury operations, Bakkt CEO Kelly Loeffler said in announcing the acquisition. $182 Million: ICE’s Bitcoin Startup Bakkt Announces Massive Fundraise Her most prominent hire to date has been Adam White , one of the longest-serving employees at industry unicorn Coinbase, who joined Bakkt as chief operating officer last year. From left: CoinDesk advisory board chairman Michael Casey, Bakkt CEO Kelly Loeffler and Intercontinental Exchange CEO Jeff Sprecher at Consensus: Invest 2018. Image via CoinDesk archives Related Stories Launch of Bakkt Bitcoin Futures Market May Get Postponed Again ICE Founder: ‘We’re Kind of Agnostic’ on Bitcoin’s Price View comments || Breaking: Bakkt Raises $182 Million, What it Means for the State of Bitcoin Industry: Bakkt, a cryptocurrency exchange and liquidity provider created by the New York Stock Exchange’s parent companyICEhas raised $182.5 million from a group of high profile investors and venture capital firms.
On December 31, on New Year’s Eve, Bakkt CEO Kelly Loeffler announced that Boston Consulting Group, CMT Digital, Eagle Seven, Galaxy Digital, Goldfinch Partners, Alan Howard, Horizons Ventures, Intercontinental Exchange, Microsoft’s venture capital arm, M12, Pantera Capital, PayU, the fintech arm of Naspers, and Protocol Ventures invested in the company, sharing the firm’s vision of driving institutional access for digital assets and providing support for merchants.
Loefflersaid:
Our work today is centered on driving institutional access for digital assets, along with merchant and consumer uses, and we’re already expanding on this vision, collaborating with great companies like Starbucks in these efforts.
As of December 31, the Bitcoin price remains down 80 percent from its all-time high at $19,500 and is en route to ending the year in the midst of a steep sell-off and a deep bear market.
But, according to Bakkt CEO Kelly Loeffler, 2018 has been the most active year for the Bitcoin and cryptocurrency industry, as it saw significant progress in strengthening the infrastructure supporting the asset class.
In December alone, Bakkt secured a $182 million investment from major venture capital and technology conglomerates, and ErisX, another U.S.-based cryptocurrency futures market, received $27.5 million fromNasdaqandFidelity.
While the value of crypto assets have dropped substantially since early 2018, Loffler emphasized that the price does not reflect the accomplishments of companies within the cryptocurrency ecosystem and the milestones the industry has achieved throughout the past 12 months.
She noted:
Notably, 2018 was the most active year for crypto in its brief ten-year history. This was evidenced by rising investment in distributed ledger technology and digital assets, as well as by blockchain network metrics such as daily bitcoin transaction value and active addresses. Yet, these milestones tend to be overshadowed by the more narrow focus on bitcoin’s price, which has been seen by some, as a proxy for the potential of the technology.
As the institutional infrastructure for Bitcoin improves and the overall liquidity of crypto assets increases, the sector may see the inflow of more capital from institutional investors and high profile funds in the long run.
Several companies including Bakkt are actively working on various solutions to address the lack of merchant adoption of digital assets with partners in the likes of Starbucks and Microsoft.
Some reports have suggested that the partial shutdown of the U.S. government could result in the delay of the BakktBitcoin futuresmarket launch on January 24.
In an official statement, Bakkt stated that the firm would provide an update in early 2019 on the intricacies of the firm’s plans in launching its Bitcoin futures market.
“Following consultation with the Commodity Futures Trading Commission, ICE Futures U.S., Inc. expects to provide an updated launch timeline in early 2019, for the trading, clearing and warehousing of the Bakkt Bitcoin (USD) Daily Futures Contract,” the firm said.
Images from Shutterstock
The postBreaking: Bakkt Raises $182 Million, What it Means for the State of Bitcoin Industryappeared first onCCN. || Op-Ed: Does the Video Game Industry Really Need Blockchain?: No. You may have expected a different answer to come from a blockchain video game developer, but that’s the truth. Gaming does not need blockchain.
In fact, there are a lot of great features that gaming doesn’t need. Games did just fine before online multiplayer was available, or before the quicksave option became popular – do games need those things to be successful? Not necessarily. Different features suit different games, and the industry is constantly evolving to create the best, most innovative, most immersive gaming experience possible.
There’s no doubt about it,blockchain technologyhas been shoehorned into projects where it’s not really needed. People have tried todecentralize forestsand put them on the blockchain to charge passersby for the air generated by trees, and companies have seen their stockskyrocket 500%just by adding the word ‘blockchain’ to their name.
As a year of over-hyped blockchain projects anddubious use casesdraws to a close, many people are still unclear as to what blockchain can actually do for gaming.
Two things that blockchain is really good at – creating unique digital assets that can’t be duplicated, and creating decentralized ecosystems where nobody is really in charge and everyone gets a fair say.
Those two aspects of blockchain can actually take on and disrupt a number of gaming mechanics.
• In-Game Currency
• Staking Real Money
• True Ownership of Digital Assets
Wait, games already have in-game currency, right? Why bother upgrading it to cryptocurrency?
Well, in-game currency is completely controlled by the video game company. It could, theoretically, be deleted at will. The value could suddenly be completely changed by altering the supply.
Cryptocurrency can be used as an in-game currency that is truly in the hands of the players. Major games like EVE Online and World of Warcraft have had numerous controversies over the developerseliminating entire in-game currenciesor supposedly creatinginflationby mismanaging the supply, withhackingalso commonplace for some MMOs.
When gamers rely on the trust of the game developer to control the economy responsibly, it doesn’t always work out well – blockchain, for the first time, will allow real economies with real money to be operated solely by gamers with no authority figure controlling everything from behind the scenes. That’s a big deal, and it leads into my next point.
The Esports industry is now worth approximately$900 million. Competitive gaming is hugely popular, and the concept of decentralized game economies using real money is even more exciting for the fact that users can stake cryptocurrency on a game and win money depending on the outcome.
Different games can leverage cryptocurrency in different ways to allow for betting, trading, transaction escrow, quest or item insurance, and many other complex economic solutions that weren’t as sophisticated in the past, or even possible.
The third feature enabled by blockchain in gaming is the creation of digital assets. Yes, that can mean cryptocurrency, but it can also mean physical items like weapons or clothing, and even real estate. Much likeBitcoin, these assets cannot be duplicated or deleted, meaning blockchain allows gamers to own unique items with real value that can be bought, sold, or traded.
The first experiment with digital assets in a blockchain video game was probablyCryptoKitties, which ended up with a digital asset being sold for $170,000, something that would never happen with an in-game item that could simply be deleted or altered by the game company. Because the buyer was the true owner of the digital asset, not the company, a real market could be created for the assets.
Astudyby World Asset eXchange shows that “62% of gamers feel having the flexibility to transfer virtual items from game to game would make spending money on those items more worth it,” and this is another feature enabled by blockchain adoption in gaming.
For many, the old adage “if it ain’t broke, don’t fix it” comes to mind. Blockchain is a new, complex technology and the promises to revolutionize every industry from gaming to shipping and trade can seem like a drastic change.
Here’s the thing – by implementing blockchain in gaming, we’re not really trying to “fix” everything. In-game currencies and items aren’t necessarily broken, but they would be improved if they were decentralized,secure, and managed by the community.
Does gaming need blockchain?
No, I’m sure the industry would survive without it.
However, blockchain gives us the chance to tackle areas of gaming that can be improved to create fun, creative,monetizable, and innovative features that nobody has been able to create before – and that’s something to be very excited about.
About the author: Scot Kinney is the CEO ofAlterVerse, a blockchain-enabled VR gaming and game-building platform using Enjin. AlterVerse is releasing its first game, Disruption, on Steam in Q1 2019 with many more to follow. The games will form an interconnected multiverse where players can buy blockchain real estate like battleships and charge entry fees for other players, running their very own VR business on the blockchain. AlterVerse is currently seeking seed funding.
Featured Image from Shutterstock
The postOp-Ed: Does the Video Game Industry Really Need Blockchain?appeared first onCCN. || USD/JPY Price Forecast – US dollar pulls back against Japanese yen: The US dollar pulled back a bit during the trading session on Thursday, as the ¥109 level has been massive as resistance yet again, and even though we have had a pullback, it wouldn’t surprise me if we retested it. I think we are going to continue to bounce around in this 100 pips range, with the ¥108 level underneath. Once we break down below there though, the market could drop to ¥107, and then possibly as low as ¥105. USD/JPY Video 18.01.19 Above, the ¥110 level above is massive resistance, and I think it’s going to be very difficult to break above there. The 61.8% Fibonacci retracement level is just above there as well, so I think it’s going to be resistive as well. With that being said, I think anytime that we rally, there will be sellers willing to push it back down. Beyond that, I think it’s very interesting to notice the correlation between this pair and the risk appetite of markets in general. There is high correlation between this pair and the S&P 500, as both are highly sensitive to risk appetite around the world. That being the case, I think it’s only a matter of time before we get more trouble on the horizon as the US/China trade talks continue to stall a bit, and then of course we are in the middle of earnings season which will have a major effect on the US dollar itself. That being the case, we have had a nice grind higher but we are still decidedly bearish. This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin And Ethereum Daily Price Forecast – Major Crypto’s Stagnate Amid Lack of Momentum GBP/JPY Price Forecast – British pound finding support against Japanese yen Trading plan for January 17 GBP/USD Price Forecast – the British pound continues to reach higher EUR/USD Price Forecast – Euro find support on Thursday Silver Price Forecast – Silver markets pulled back || USD/JPY Fundamental Daily Forecast – BOJ Expected to Express Concerns Over Stubbornly Weak Inflation: The Dollar/Yen is recovering from Tuesday’s weakness, primarily due to the slight recovery in U.S. equity markets. Short-covering and position-squaring ahead of the Bank of Japan’s interest rate decision is also taking place. The BOJ is widely expected to hold interest rates at ultra-low levels. The BOJ is also expected to release its monetary policy statement and its outlook report. The focus for the central bank will likely be on concerns over slow growth. At 0500 GMT, the USD/JPY is trading 109.699, up 0.334 or +0.30%. Earlier in the session, Japan reported that its exports in December fell the most in more than two years. Exports in December fell 3.8 percent from a year earlier, Ministry of Finance (MOF) data showed on Wednesday, bigger than a 1.9 percent drop expected by economists. It was the sharpest year-on-year decline since October 2016. Traders blamed the on-going trade war between the U.S. and China for the weakness. The report showed that exports to China, Japan’s biggest trading partner, fell 7 percent in the year to December. One of the biggest concerns is that the U.S.-China trade dispute is already working its way through the global supply chains with new worries that a severe disruption could drive down corporate profits in Japan and other countries. This could accelerate the widely predicted global economic slowdown. A Reuters poll of economists showed the heightened external pressures have increased the chances of Japan sliding into a recession this coming fiscal year starting in April. The report also showed Japan’s shipments to Asia, which account for more than half of overall exports, fell 6.9 percent in December. Furthermore, Japan’s overall imports in December rose 1.9 percent from a year earlier, bringing the trade balance to a deficit of 55.3 billion yen and marking an eighth month of shortfalls in 2018. That led to Japan’s first full-year trade deficit since 2015 when it was reeling from a spike in fuel imports to make up for the loss of nuclear power following the 2011 Fukushima disaster. Story continues Forecast With inflation stubbornly weak and issues developing with the slowing global economy, the Bank of Japan is widely expected to leave interest rates unchanged at this week’s meeting. The BOJ is also set to debate downside risks to the economy and the inflation outlook. Weakening inflation and slowing external demand mean the BOJ is in no position to normalize monetary policy, while some investors are speculating further easing down the road. After the release of the BOJ’s decisions, traders will go back to watching for any more clues regarding the slowing global economy. If the meeting between the U.S and China, scheduled for January 30-31, is officially canceled then this could trigger a flight to safety rally in the Japanese Yen. This article was originally posted on FX Empire More From FXEMPIRE: U.S Existing Home Sales Tumble: A Blip Or an Omen? USD/JPY Fundamental Daily Forecast – BOJ Expected to Express Concerns Over Stubbornly Weak Inflation Trade Data out of Japan Delivers Another Red Light on Growth Price of Gold Fundamental Daily Forecast – Direction Controlled by Risk Appetite, Treasury Yields, U.S. Dollar Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 23/01/19 DAX Index Daily Price Forecast – DAX Index To Resume Bearish Action For Third Consecutive Day || What We Know About Yellow Vests’ Bank Run and How Crypto Could Help It: On Jan. 7, activists of theFrenchgrassroots political movement the Gilets Jaunes — Yellow Vests — announced abankrun via social media, essentially hoping to meet their goals by destabilizing the local financial system.Dubbed the “Collectors’ Referendum,” the movement’s latest demonstration calls on supporters to withdraw their savings from financial institutions on Saturday, Jan. 12. While the political action does not mentioncryptocurrencies, it seems that such a run on the banks could hypothetically affect the crypto market — and vice versa.
A bank run entails a lot of people withdrawing their money from a given bank. It normally happens when investors start to feel that their bank may cease to operate in the near future.
As a result, a fractional-reserve banking system — in which banks keep part of their assets locally, usually at least equal to a fraction of their deposit liabilities — becomes challenged, while people start opting for other assets instead of fiat: for instance, bonds, precious metals or, theoretically, cryptocurrencies, as their decentralized structure might guarantee more independence from financial institutions.
There have been numerous bank runs throughout history, namely during the Great Depression and the 2007-08 financial crisis. However, according toacademic research on bank runs, they tend to occur naturally due to panic and rumors among depositors rather than voluntarily, which makes it harder to assess the potential effectiveness of the Yellow Vests’ plan.
The Yellow Vests movement started in November 2018, when various posts on social media suggested blocking roads and using yellow, high-visibility vests as a symbol of solidarity and support (hence the name). Mass protests across mainland Francefollowed, with the immediate cause beingthe carbon taxes on petrol and dieselintroduced by the French President Emmanuel Macron. Consequently, the activists have demanded lower fuel taxes, the reintroduction of the solidarity tax on wealth, a higher minimum wage and Macron's resignation.
Another crucial point for the Yellow Vest movement is the Référendum d'initiative Citoyenne (Citizens Initiative Referendum –RIC), the proposal for a popular referendum in which citizens could propose and repeal laws, amend the constitution or remove an elected representative. Essentially, it is a form of direct democracy akin to the one employed inSwitzerland.
Over a few weeks, the protestors caused the French government toput its plans for fuel taxesandincreased electricity tariffs on hold. Moreover, Macron has sinceintroduced more measures to restore peace: namely, a minimum wage increase, a U-turn on a planned tax increase for low-income pensioners, and tax-free overtime payments and end-of-year bonuses. Nevertheless, the protests are still ongoing. The latest series of demonstrations, dubbed “Act VIII,”brought even more skirmishesonto the streets of France on Jan. 5.
“Act IX,” in turn, is scheduled for next Saturday, Jan. 12. And, according to some posts on social media, it is going to be accompanied by a bank run on top of more traditional demonstrations. Thus, speaking in a video uploaded to Facebook on Jan. 7, an activist named Tahz Sansays:
"For Act IX, we will scare this state legally and without any violence [...] through the Référendum des percepteurs [Collectors' Referendum]. [...] We all know that the power of a country is not in the hands of the government but in those of the banks. If the banks weaken, the state weakens immediately. [...] On Saturday, at 8 a.m. we will all vote by withdrawing our money [...] till the RIC won’t imposed.”
It doesn’t matter the sum that will be withdrawn, and it is advised either to spend it at some artisan local shop or save at home “under mattresses, as did our grandparents,” according to San. In case of failure, the operation should be reproduced the following month.
The very same idea was soon voiced by Maxime Nicolle, also known as "Fly Rider," a popular spokesperson for the grassroots movement. "Many people will withdraw their money from banks. Many, many, many," hesaidwhile discussing the so-called “Tax Collectors’ Referendum” in a live broadcast on Facebook. “We are going to get our bread back. [...] You’re making money with our dough, and we’re fed up.” The video has since amassed around 1 million views.
Therefore, the bank run’s advocateshopeto force the French government to meet their demands through a nonviolent way. In other words, the Tax Collectors’ Referendum could be compared tothe recent Proof of Keys eventorganized by entrepreneurTrace Mayeramong members of crypto community. Timed to coincide withthe 10th anniversary of the Bitcoin genesis block, the event aimed to motivate Bitcoin users to remove all coins stored with trusted third parties and take back control of their private keys.
The extent to which the demonstrators appear to support cryptocurrencies has not been measured, but some photos of an alleged protestor wearing a yellow vest saying “buy bitcoin” on the back has gone viralamong crypto-oriented blogs. Additionally, similar vests are currentlybeing sold on Amazon.
Image source: Twitter,@ydemombynes
Moreover, forthe 10th anniversary of the Bitcoin genesis block, French graffiti artist Pascal Boyartunveiledhis wall mural titled “La liberté guidant le peuple 2019,” based on Eugene Delacroix’s famous painting of the French Revolution, but featuring people in yellow vests. According to Boyart, he hid more than $1,000 worth of BTC in it.The wallet addressof the prize is public, with entrepreneur Alistair Milne encouraging Bitcoin users to donate to the project to further increase the size of the treasure.
Image source: www.pboy-art.com
There are more definite signs that Bitcoin is enjoying mainstream recognition inFrance, however. In November 2018, the local tobacco federation (Fédération des Buralistes)obtained permissionto sell Bitcoin (BTC) at tobacco shops starting from January 2019.
In a deal with French cryptocurrency wallet provider KeplerK, up to 4,000 small shops will sell Bitcoin vouchers in denominations of 50, 100 and 250 euros, which customers can then exchange for cryptocurrency on KeplerK’s website when they open a wallet.
However, in response to the news about the crypto-friendly license, the French stock market regulator, the Autorité des marchés financiers (Financial Markets Regulator),jointly issued a warningwith the country’s central bank and French Prudential Supervision and Resolution Authority (ACPR) recalling the risks associated with “speculative” crypto assets.
Interestingly, a privately owned French radio network, Europe 1,insistedthat the ACPR had “no choice” but to approve the sales due to the rate at which cryptocurrency was entering mainstream consumer consciousness. Despite the uncertainty, several tobacco shops in Parishave reportedly already started sellingBitcoin for fiat.
Overall, France has delivered mixed messages on cryptocurrency at the state level, mostly calling forinternational regulatory efforts. On the other hand, thehead of French government’s cryptocurrency working group, Jean-Pierre Landau, hasarguedthat over regulation would deliver a “three-pronged danger.”
“The danger is three-pronged: that of freezing the rapid evolution of technology in legislation, that of failing to grasp the real nature of the object we intend to regulate and that of pushing innovation towards regulatory avoidance. On the contrary, regulation should be technologically neutral, and in order to become so, address the actors and not the products themselves.”
As the French magazine Capitalstates, the potential disruptive element of the upcoming bank run could technically be considerable: When banks start to collapse due to their inability to cover the costs of operating, the whole sector is likely to fail altogether. However, it also highlights the voluntary nature of the Yellow Vests’ bank run, noting that the eventual turnout is likely to be low enough so as to not initiate a crisis.
Capital also notes that the average amount withdrawn each day in France is 342 million euros, while around 126,000 people marched in France in support of Yellow Vests on Dec. 8. Consequently, at least 100,000 of them would have to withdraw around 3,400 euros to reach such an amount. Additionally, there are daily withdrawal limits tapped between 300 and 500 euros on debit cards for regular users, which would make the whole process more complicated.
Christopher Dembik, head of macroeconomic research at Saxo Bank, also seems skeptical about the movement’s ability to shatter the banking system. He told Capital:
“Triggering a bank run requires huge queues at the counters, very honestly I think the strike force of yellow vests is too weak to destabilize the sector even at the margin."
As of November 2018, banks in France have a reserve of 449.7 billion euro in deposit accounts available for withdrawal overnight,according to data from the European Central Bank.
Still, fiat bank runs have contributed to the appeal of Bitcoin before, with Cyprus’s financial crisis in 2013appearing to boost the priceof the cryptocurrency.
According to areportby the largest French bank, BNP Paribas, the impact of the Yellow Vests’ movement on the French economy could be significant, but temporary. Banque de Franceestimatedthe impact on the economic growth in France would decrease in the fourth quarter 2018, from an expected 0.4 percent to 0.2 percent, due to the Yellow Vests crisis.
Thus, one can only speculate about the effects a French bank run could have on the crypto market and whether cryptocurrencies could also streamline the protest. For instance, Max Keiser, host of the RT show “Keiser Report,”believes:
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[Random Sample of Social Media Buzz (last 60 days)]
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https://coincheck.com/?c=6v3yif9oquo
#Coincheck #コインチェック #仮想通貨 #BTC #ビットコイン
#followmejp #sougofollow #相互フォロー #followme #follow #followback || #Bitcoin $3,418.05 v #BitcoinCash $243.71 (BTC/BCH 14.0), Avg Transaction fee for #Bitcoin ~$0.30 v #BitcoinCash ~$0.00 - 2018/12/13 19:00JST || 1 BTC = 12625.01007000 BRL em 02/02/2019 ás 14:00:01. #bitcoin #bitcoinbr #bitcoinexchangebr
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Trend: up || Prices: 3648.43, 3653.53, 3632.07, 3616.88, 3620.81, 3629.79, 3673.84, 3915.71, 3947.09, 3999.82
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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)]
Brian Armstrong explains how Coinbase Analytics extends goodwill to regulators: San Francisco Coinbase is best-known for being the poster child for cryptocurrency trading in the U.S., but a relatively new service has been increasingly making headlines: Coinbase Analytics. The product licenses Coinbase's data and analytics software for AML to third-parties including government agencies, which has drawn the ire from certain factions of the crypto world. In an episode of What Bitcoin Did , host Peter McCormack asked CEO Brian Armstrong whether new service was at odds with the ethos of bitcoin. "I'm a big supporter of privacy," Armstrong said. He said the product supports Coinbase's core business of cryptocurrency trading inasmuch as it builds "goodwill" with regulators by making them also their clients. That also decreases the potentiality that they would probe Coinbase about specific customer data. "If we just kind of like tell them, 'hey, you know, F off' like we don't want to help you and we're just going to develop a kind of hostile relationship with them where they're just going to request even more customer data from us," Armstrong said. As reported by The Block in June, records showed that the U.S. Drug Enforcement Administration (DEA) and the Internal Revenue Service (IRS) intend to buy Coinbase Analytics. Subsequent public records showed that Coinbase struck deals with the U.S. Secret Service and the IRS to use the software tools. Armstrong added that the service is commonplace and if these agencies weren't a Coinbase customer they could easily get access elsewhere. "The main thing is that it's not lubricating anything in my mind because they have many options of where to get that information. There are three or four major blockchain analytics companies," he said. "They can even just if they really wanted to build it themselves, it's publicly available data. Right. So they're going to do it one way or another." © 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. || PayPal cites ‘death of cash’ as firm posts record earnings: PayPal shares jumped nearly 5% after market close on Wednesday as the payment giant announced record revenues of $5.26 billion for the second quarter, and said it added 1.7 million new merchants during this period. In a call discussing the results, PayPal executives said society has reached an “inflection point” when it comes to the “death of cash,” and noted that 70% of consumers now fear for their health when it comes to paying in stores. “Consumers no longer want to handle cash or any forms of payment that require physical touch at checkout,” said Schulman. He also cited an explosion in the use of PayPal-owned Venmo in the second quarter, saying the popular payment app now has over 60 million users. Schulman noted that Venmo usage had long revolved around social occasions—such as splitting the check at a restaurant—but that it’s now being used for a much broader range of activity. This is consistent with a recent report that use of payment apps of all sorts has surged during the pandemic. Meanwhile, the company says it is seeing an explosion in online payment from new cohorts and industries, notably seniors and online fitness services. “The pace of e-commerce has accelerated by several years in a single quarter,” said PayPal CFO John Rainey. In response to these trends, the company says it is investing heavily to improve its digital wallet, which it hopes will become a daily part of life for many consumers. PayPal is focused in particular on promoting the use of QR codes by merchants and Venmo users. The company is also hoping to begin wringing more money from Venmo—which has brought PayPal many users but little in the way of income—in part through products like direct deposit and a credit card. PayPal’s blowout quarter also led the company to reinstate financial guidance for the rest of the year after, like many other companies, it withdrew guidance due to the pandemic. Story continues On Wednesday, the company said it expected revenue to grow by 25% over the rest of the year, and earnings per share to swell by 45% (25% on a non-GAAP basis). One topic the PayPal executives did not discuss was cryptocurrency. The company is widely expect to make Bitcoin and other digital currencies available this year, in partnership with a startup called Paxos . While they did not mention Bitcoin directly, Rainey may have alluded to it in citing the impending launch of “other financial services I won’t go into any detail about today.” PayPal shares traded near $185 as of 7pm ET after opening the day around $179. More must-read finance coverage from Fortune : VC icon Alan Patricof and SoulCycle vet Abby Levy launch fund to invest in aging When will the pandemic end? Not before 2022 , ex-U.S. surgeon general warns Women are more worried about layoffs than their male coworkers PPP part 3? Everything you need to know about the proposed expansion of the small business loan program Bank of America CEO Brian Moynihan on how business can measure stakeholder capitalism This story was originally featured on Fortune.com || First Mover: As Fed Nears Inflation Rubicon, Analysts See $50K Bitcoin in Play: The Federal Reserve appears ready to pursue yet another untested strategy that could ultimately boost inflation – and possibly prices for bitcoin . The Fed is “preparing to effectively abandon its strategy of pre-emptively lifting interest rates to head off higher inflation,” according to a new report in the Wall Street Journal . The shift signals an explicit willingness by the central bank to tolerate higher inflation, at a time when the spreading coronavirus continues to ravage the economy. The U.S. unemployment rate stands at 11%, a level not witnessed since the early 1940s until this year. Related: Blockchain Bites: XRP Sales, INX IPO and Bitcoin Mining Woes The Fed’s extra loosening of monetary policy could help support prices for bitcoin, which many cryptocurrency investors speculate could serve as an effective hedge against inflation, similar to gold. Bitcoin prices have already soared 58% this year, beating silver’s 36% and gold’s 30%, not to mention the 2% gain in the Standard & Poor’s 500 Index of large stocks. Bitcoin rose 1.5% on Monday to $11,338. “As more investors look to ‘digital gold’ as an inflation hedge in an increasingly digitized world amidst unprecedented government money printing,” the cryptocurrency research firm Messari wrote Monday, “we know that it won’t take much of an institutional allocation until $50,000 bitcoin is back on the table.” The Fed already has taken monetary policy to a new level of extraordinary this year, pumping nearly $3 trillion of freshly created money into financial markets earlier and pushing its total assets to about $7 trillion . A growing number of investors in both digital-asset and traditional markets say the flood of dollars could whittle down the U.S. currency’s purchasing power. Story continues Related: Bitcoin Futures Interest Soars as Bond Yields Fall to Record Lows: Industry Exec The dollar index, a gauge of the the currency’s strength in foreign exchange markets, fell 4% in July, the biggest monthly drop since 2010. And the Wall Street brokerage firm Jefferies now predicts that the dollar could fall as much as 15% , according to CNBC. Bank of America analysts wrote Monday in a report that it’s becoming a popular trade to bet against the dollar, since investors are “worried about the long-term impact of the rapid accumulation of U.S. debt for the U.S. dollar’s reserve-currency status.” “As gold, silver, equities, and long bonds reach record high levels, and the U.S. dollar slumps , the king of cryptocurrencies may be back in the spotlight for the foreseeable future,” Jeff Dorman, chief investment officer of the cryptocurrency-focused firm Arca , wrote Monday in a weekly blog. Under the Fed’s policy shift, according to the Wall Street Journal, the central bank would allow inflation to drift above a 2% target before raising rates. The idea is that above-target inflation would offset periods where consumer price increases were previously below the mark, as has been the case for most of the past two decades. The goal is not to increase inflation per se, but to provide assurances to investors that interest rates would remain low for a long time, according to the paper. Such accommodation could help to assure a faster economic recovery. Yet, higher inflation could further distort already uncanny signals emanating from bond markets, further undermining the dollar’s attractiveness. Nominal yields on 10-year U.S. Treasury bonds are currently around 0.6%, close to historic lows. Once inflation is factored in, the “real yields” equate to negative 1%. Assuming nominal yields don’t rise much anytime soon, an inflation rate above 2% would cause bond investors to fall even further behind. “ Negative real rates imply a loss in purchasing power from holding U.S. Treasuries, the ideal conditions for non-income producing assets such as gold and silver but also crypto assets like bitcoin,” the analysis firm Delphi Digital wrote on July 31. There’s some risk that a fresh panic in markets might prompt investors to rush back into dollars, which could mean a redux of the March crash in bitcoin prices. But according to an Aug. 2 Bloomberg News story, the next “risk-off scenario” might not see investors rushing into dollars, due to the “ flood of liquidity unleashed by the Fed .” “Any haven rally is likely to be shallower than in previous years,” according to the report, “while the possible extent of depreciation remains the same.” “Everything hinges on the dollar right now,” Mati Greenspan, founder of the cryptocurrency-focused research firm Quantum Economics, wrote Monday in an email to subscribers. Tweet of the day Bitcoin watch BTC : Price: $11,186 ( BPI ) | 24-Hr High: $11,480 | 24-Hr Low: $11,164 Trend : Bitcoin is again struggling to find a foothold above $11,400 amid signs of buyer exhaustion on the three-day chart. The number one cryptocurrency by market value is currently trading near $11,290, having hit a high of $11,424 during the Asian trading hours. Tuesday is the second straight day of bull failure above $11,400. Prices hit a high of $11,480 on Monday, but printed a UTC close below $11,240. Essentially, bitcoin’s recovery rally from Sunday’s “ flash crash ” low of $10,659 has stalled with the area above $11,400 acting as stiff resistance. The bulls need quick progress now, or the focus would shift to the uptrend exhaustion signaled by a major doji candle seen on the three-day chart. A doji occurs when prices see two-way business during a specific period. While it is usually considered a sign of indecision, in this case, it has appeared following a notable rally to 11-month highs above $12,100. As such, it represents buyer fatigue. The three-day chart’s relative strength index (RSI) is also reporting overbought conditions with an above-70 reading. Thus, a pullback to $11,000 can’t be ruled out. A move below that psychological support would expose the former hurdle-turned-support at $10,500 (February high). Alternatively, a sustained move above $11,400 on the hourly chart would strengthen the case for a re-test of recent highs above $12,000. Related Stories First Mover: As Fed Nears Inflation Rubicon, Analysts See $50K Bitcoin in Play First Mover: As Fed Nears Inflation Rubicon, Analysts See $50K Bitcoin in Play || Latest Ripple price and analysis (XRP to USD): Ripple’s XRP token has succumbed to bearish sell pressure this morning with a 14.09% move to the downside from yesterday’s high of $0.305. The industry’s fourth largest cryptocurrency by market cap is currently trading back at $0.2624 after bouncing from $0.255, which incidentally was the same point at which it bounced on August 27. Until this region breaks to the downside XRP remains in a bullish consolidation pattern, with the recent correction being expected followings its 85.68% surge since the beginning of July. However, much of the upcoming price action will depend on if Bitcoin can continue to trade above the $10,450 level of support, a break below would be catastrophic for all altcoins as investors will rush to Bitcoin before liquidating back into fiat. XRPUSD on TradingView If Bitcoin does start to slide further than it already has, XRP would almost certainly drop to as low as the $0.20 level of support, which would crucially be below the daily 200 moving average. XRP has spent just five weeks trading above the 200MA, which is the longest period it has been above it since summer 2019 when it surged to $0.50. If it manages to bounce from here like it did at the end of August it would undoubtedly signal strength in what, until today, seemed like a fully-fledged cryptocurrency bull market. The fact that XRP has risen so extraordinarily in spite of over-the-counter (OTC) token sales by the Ripple Foundation is a testament to the demand and optimism surrounding the project. For more news, guides and cryptocurrency analysis, click here . Latest Ripple price Current live XRP price 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 Ripple price. Pricing is also available in a range of different currency equivalents: US Dollar – XRPtoUSD British Pound Sterling – XRPtoGBP Japanese Yen – XRPtoJPY Euro – XRPtoEUR Australian Dollar – XRPtoAUD Story continues Russian Rouble – XRPtoRUB Bitcoin – XRPtoBTC About Ripple (XRP) Ripple is a real-time gross settlement system (RTGS) developed by the Ripple company. It is also referred to as the Ripple Transaction Protocol (RTXP) or Ripple protocol. It can trace its roots to 2004 when a web developer called Ryan Fugger had the idea to create a monetary system that was decentralised and could effectively allow individuals to create their own money. Ripple is one of the largest cryptocurrencies and is one of the top 10 cryptocurrencies by market capitalisation. More Ripple news and information If you want to find out more information about Ripple or cryptocurrencies in general, then use the search box at the top of this page. Here’s a recent article to get you started: https://coinrivet.com/ripple-ceo-brad-garlinghouse-hits-back-at-critics-xrp-is-not-a-security/ 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. || What Crypto Lender Celsius Isn’t Telling Its Depositors: Standing in a spacious, white living room and sporting a black T-shirt, Alex Mashinsky, CEO and co-founder of cryptocurrency lender Celsius Network, urged his customers to ignore the naysayers. “Don’t listen to the FUD-ers, look at the facts,” Mashinsky said on the YouTube livestream on July 17, using crypto slang for “fear, uncertainty and doubt.” A few minutes later, he reassured the audience of “Celsians,” as the platform’s users are nicknamed, that the company is prudently deploying their crypto deposits. Like a bank, Celsius borrows from one set of clients, lends to other customers and pockets the difference in interest. Unlike a bank, it only borrows and mainly lends cryptocurrency, and it does not have government deposit insurance. The company claims to have gathered a total of more than $1 billion worth of crypto deposits as of June. Related: Crypto Lender Nexo to Enter Prime Broker Race, Enlists Chainlink for Audits As an example of its high lending standards, Mashinsky said Celsius strictly demands collateral when making a loan. “When you’re using any other platforms that are like Celsius, what you care about is, who is the borrower?” Mashinksy said. “Is the lender doing non-collateralized loans? Celsius does not do non-collateralized loans. … Celsius will not do that because that would be taking too much risk on your behalf.” The statement was at odds with what Celsius’ own representative had told CoinDesk just a few days before. In response to a question from CoinDesk, Anastasia Golovina, an external spokesperson for Celsius at the Ditto PR agency, confirmed the company also makes uncollateralized loans, on what she described as a limited basis. Related: Crypto Lender BlockFi Says Monthly Revenue Up 100% After Bitcoin Halving User Boost “Celsius’ total uncollateralized loans are less than a fraction of 1 percent out of tens of thousands of loans issued since 2018,” Golovina told CoinDesk by email on July 13, referring to the number of loans but not the dollar volume. “All of these were normal size loans and were done to institutions with billions of dollars in equity.” Story continues When subsequently asked about the dollar volume of the uncollateralized loans and about Mashinsky’s denial of their existence on the AMA, Golovina did not provide a response. Read more: Crypto Lending 101 Even if small, the uncollateralized lending is one of several salient items that Celsius has downplayed or not shared with depositors. Hot ticket Celsius is a major player in a budding corner of the crypto industry. In the past year, lending activity has mushroomed as some holders sought to earn a yield on their assets , others sought to raise cash without selling their coins and market makers borrowed to fill orders quickly. The phenomenon could potentially improve liquidity and price discovery for crypto assets. (Disclosure: Another crypto lender, Genesis Capital, is owned by Digital Currency Group, which is also the parent company of CoinDesk.) But like all lending, the crypto kind carries risk – and Celsius may be taking more of it than depositors fully realize. Whatever the amount of unsecured lending in which Celsius engages, the majority of Celsius’ loans appears to be collateralized. To borrow $1,000 with a 0.7% interest rate , for example, a trader needs to pledge around 0.43 BTC of collateral to Celsius as of this writing, and if the value of that collateral dips, the loan is subject to margin calls. But Celsius has also at times invested deposits in perpetual swaps, futures-like contracts with no expiry date, people familiar with Celsius’ business said. Reportedly pioneered by the BitMEX exchange , perpetual swaps settle to an index periodically, letting traders maintain their positions without rolling them over. This activity, one source said, increases Celsius’ vulnerability to brutal sell-offs like the one bitcoin endured in mid-March, which led to a spike in forced unwindings of such contracts at BitMex. “The problem is that some of that is done on BitMEX, and you take March 12 again and BitMEX closes down through the margin-call floor – the extra 2% profit is now negative 10% profit,” this person said, describing a hypothetical scenario. Read more: Genesis CEO Details ‘Black Thursday’ Chaos in Q1 Lending Report Celsius denied investing in perpetual swaps. “Our business is to lend out coins to institutions,” Mashinsky said in an email to CoinDesk. “Celsius lends mostly to large institutions and sometimes to exchanges, both provide us with collateral.” Rehypothecation A serial entrepreneur who helped pioneer voice-over-internet-protocol (VOIP) technology , Mashinsky founded Celsius in early 2018. Like many in the crypto space, he touts his service as a way to democratize finance. An August 2019 pitch deck obtained by CoinDesk says the company’s vision is to provide “fair interest income for 7 billion people.” Also potentially concerning to depositors, people with knowledge of the matter said, is that Celsius lends out portions of the collateral borrowers hand over. An over-the-counter desk trader likened this practice, known as rehypothecation, to the way subprime loans were repackaged and sold as mortgage-backed securities and then resold as collateralized debt obligations in the years leading up to the 2008 financial crisis. Because of rehypothecation, which the trader said several crypto lending platforms are engaging in, he is seeing many clients pull out of lending and move toward options contracts. Another source familiar with Celsius’ business said the lender’s rehypothecation of loan collateral is also why crypto miners don’t take out loans from the firm – they don’t want to end up unable to access crypto they mined. In response to questions about rehypothecation of collateral, Golovina said Celsius won’t “discuss our best business practice and the competitive advantage of our business model.” Read more: $25 Million in 2 Weeks: BlockFi Booms as Bitcoin and Ether Investors Seek Interest In its terms of use , Celsius reserves the right to re-hypothecate customers’ assets, but it’s ambiguous whether the passage refers solely to depositors’ funds or to borrowers’ pledged collateral as well. “In consideration for the rewards earned on your Account and the use of our Services , ” the document says, “ you grant Celsius the right … to pledge, re-pledge, hypothecate, rehypothecate, sell, lend or otherwise transfer or use any amount of such Digital Assets … for any period of time.” Shrunken capital Celsius raised its startup capital through an initial coin offering (ICO) in early 2018. The company swapped its CEL token for bitcoin (BTC) and ether (ETH), the largest and second-largest cryptocurrencies by market capitalization, respectively. However, Celsius did not convert the crypto it had received to fiat until after the market tanked, which caused it to lose about half the value of the proceeds, people familiar with the sale said. Public information supports this claim. In September 2019, Mashinsky told CoinDesk the ICO was valued at $50 million . But its financial statements filed with the U.K. registrar Companies House in May 2020 show sale proceeds of only $25 million as of Feb. 28, 2019. (Celsius is based in Hoboken, N.J., and privately held, but has a subsidiary in London, and is thus required to file financials with the registrar .) Celsius chalked up the difference to an accounting practice, but acknowledged it did not convert the crypto to fiat in the same month that it was raised. “While Celsius reported an ICO worth $50 million, when the coins converted to fiat the value of the coins dropped as the market dropped in accordance,” Golovina said. “In addition, for tax reasons, we recognize revenues over several years as we use the funds to build the product.” Read more: Here’s Why Interest Rates on Cryptocurrencies Could Be a Game-Changer Celsius recognizes ICO proceeds as revenue only when it converts the funds to dollars, she said, again citing tax reasons. It waited to convert the crypto to dollars because the firm identifies as a “HODLer,” she added, using crypto argot for a long-term investor. In the last two months, Celsius raised close to $30 million, consisting of $18 million crowdfunded on BnkTotheFuture and $10 million from stablecoin issuer Tether. UPDATE (July 28, 20:15 UTC): Added paragraph about recent fundraising. Related Stories What Crypto Lender Celsius Isn’t Telling Its Depositors What Crypto Lender Celsius Isn’t Telling Its Depositors || Apple Co-Founder Steve Wozniak Sues YouTube Over Bitcoin Giveaway Scams: Apple co-founder Steve Wozniak is suing video-sharing giant YouTube and its parent company Google for allegedly allowing bitcoin giveaway scams that use his likeness to thrive on its platform.
Wozniak was one of 18 plaintiffs that filed the lawsuit on Tuesday, which seeks punitive damages, a trial by jury and demands YouTube remove all bitcoin giveaway scams and promotions using Wozniak’s name and likeness.
The suit praised Twitter for acting “swiftly and decisively” to shut down malicious accounts and “protect its users from the scam” referencing the platform’s response to last week’scoordinated cyberattackthat gained access to a host of verified Twitter accounts and posted a crypto giveaway message.
Related:Google, Twitter and Facebook Face $600M Lawsuit Over Crypto Ad Bans
“In stark contrast, for months now, Defendant YOUTUBE has been unapologetically hosting, promoting, and directly profiting from similar scams,” the suit said.
Wozniak is not the first to take action against YouTube over crypto scams. Earlier this year, Ripple Labs, along with CEO Brad Garlinghouse,sued the platformfor allegedly failing to effectively police fake XRP giveaway scams that were causing monetary and reputational harm to the company.
According to the new complaint filed with the Superior Court of the State of California in the county of San Mateo, YouTube has “featured a steady stream of scam videos and promotions that falsely use images and videos of Plaintiff Steve Wozniak, and other famous tech entrepreneurs, and that have defrauded YouTube users out of millions of dollars.”
The suit alleged that the image and likeness of other well-known entrepreneurs including Bill Gates, Elon Musk and Michael Dell were also being exploited in these scams.
Related:Twitter Hacker Is Mixing Bitcoin Loot Using a Wasabi Wallet, Elliptic Says
According to screenshots attached in the complaint, the scams involving Wozniak uses images and videos that tell users that the entrepreneur is hosting a live bitcoin or “BTC” giveaway event. The suit alleges that the posts “convince” users to transfer their cryptocurrency promising that, for a limited time, they “will receive twice as much back”.
“YOUTUBE and GOOGLE took the further step of promoting and profiting from these scams by providing paid advertising that targeted users who were most likely to be harmed,” the suit said.
Wozniak is accusing defendants YouTube and Google of violating his right of publicity, misappropriating his name and likeness, as well as aiding and abetting fraud, and negligent failure to warn users.
“Defendants’ failure to warn was willful, malicious, oppressive, fraudulent, and/or in reckless disregard of the Plaintiffs’ rights, thereby entitling Plaintiffs to punitive damages,” the suit said.
The suit demands a trial by jury on all issues triable, and damages that include legal expenses, and any “gains, profits, or advantages wrongfully obtained by Defendants.”
The lawsuit was filed by Cotchett, Pitre & McCarthy, LLP.
Read the full complaint here:
• Apple Co-Founder Steve Wozniak Sues YouTube Over Bitcoin Giveaway Scams
• Apple Co-Founder Steve Wozniak Sues YouTube Over Bitcoin Giveaway Scams || Elon Musk, Bill Gates, Apple, Other Major Twitter Accounts Hacked By Bitcoin Scammers: Strange tweets sent Wednesday fromTesla Inc(NASDAQ:TSLA) CEO Elon Musk's officialTwitter(NYSE:TWTR)account and those ofApple Inc.(NASDAQ:AAPL),Uber Technologies Inc(NYSE:UBER) andMicrosoft Corporation(NASDAQ:MSFT) co-founder Bill Gates appear to be the result of a hack promoting a bitcoin scam.
Musk, Obama, Biden Targeted:The tweets from Musk's account said he would double any bitcoin payments sent to a published Bitcoin address. They have since been deleted.
"You know I living giving back to my community," one tweet from Musk said. "I'm doubling all BTC payments sent to my address. You send $1,000 and I will send $2,000 back!"
After sharing the bitcoin address, the tweet said: "Tell your family & friends! Only going on for 30 minutes."
The bitcoin address used in Musk's tweet has been used for 272 transactions at last check,according to Blockchain.com.
The hacks began at about 3 p.m. Wednesday,according to CNBC, and were ongoing at the time of publication, with rapper Kanye West, Democratic presidential candidate Joe Biden and former President Barack Obama among the latest targets.
"We are aware of a security incident impacting accounts on Twitter. We are investigating and taking steps to fix it. We will update everyone shortly," Twitter's support account tweeted at 5:45 p.m.
Twitter shares were down 4.23% at $34.16 in Wednesday's after-hours session.
Musk Targeted By Twitter Impersonators Before:Twitter often has problems with Musk impersonators responding to the CEO's tweets claiming bitcoin giveaways and other scams.
But this apparent scam comes directly from Musk's verified account.
Musk has posted tweets about the cryptocurrency Dogecoin in the past.
Benzinga's Take:Musk has complained about Twitter's ability to control bots in the past. Now it appears hackers have gained access to Musk's account and are flooding Twitter with scam tweets.
You should never send money to anyone in this manner over the internet, even when it comes from a verified account, as it is almost always a scam.
Dustin Blitchok contributed to this report.
Screenshot from Twitter.
See more from Benzinga
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• Tesla Gets .1B Tax Break Approval From Travis County, Texas
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || OPTIONANTE Review 2020 – Is This Safe And Reliable?: KINGSTOWN, ST. VINCENT, and GRENADINES, July 31, 2020 (GLOBE NEWSWIRE) -- The recent growth ofOptionantehas been astronomical in its truest sense. The fact that it has already garnered 70,000 subscribers and 1,500 simultaneous users (SU) is a testimony to its success. Additionally, the platform has been constantly clocking a winning rate of 88%, thus giving users a relatively stable return on their investments. Furthermore, it has a dedicated customer support team that offers 24/7 support in 5 languages across several countries including Japan, China, Germany, France and the UK.
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To sum it up,OPTIONANTEis a binary options platform that enables you to invest your precious assets in your stable future. It offers a high winning rate, secure and transparent API, and safe trading environment.Media Contact DetailsName: Rene StreicherCompany: OptionanteEmail:2018support@optionante.comWebsite:www.optionante.com || How Should Investors Evaluate Marathon Patent Group?: Marathon Patent Group (NASDAQ: MARA ) hit a 52-week high of $5.25 on Aug. 6. The bitcoin miner filed a shelf registration to sell up to $100 million of MARA stock in the future. Source: Shutterstock While it’s fallen back some since the announcement, it’s still much higher than it was in late July when it sold $6.9 million of its stock at 90 cents a share. It used the net proceeds of the offering for general corporate purposes, including buying additional bitcoin miners. Around the same time as the capital raise, the company announced it had purchased an additional 700 next-generation M31S+ ASIC Miners from MicroBT. This Chinese tech company specializes in blockchain and artificial intelligence. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Including the previous equipment purchased, Marathon will have 2,060 miners operational by the end of August, with a total of 3,020 purchased for future use by the company. 8 Cheap Stocks to Keep on Your Short List “Upon delivery and installation of the 1,360 miners due to arrive in August, the company will have 2,060 Miners operational, producing 184 PH/s. As a result, the Company’s aggregate hashing power capacity would increase by 320% from the current level of 56 PH/s. Based on current Bitcoin prices, the company would expect to become cash flow positive,” the company’s July 29 press release stated. Marathon expects the final 1,000 S-19 Pro Miners to be delivered in the fourth quarter. In September 2019, it paid $4.1 million to buy 6,000, S-9 Bitmain 13.5 TH/s Bitcoin Antminers. In October, the company said that it would have 7,200 miners in production by mid-December, increasing its production to 100 PH/s (Peta hash or one quadrillion hashes per second). Interestingly, Marathon never hit 100 PH/s. The company’s press release that mentioned the 700 miners said that it had 56 PH/s as of July 29, 44% less than its October projection. Further, rather than the 7,200 miners in production, it’s supposed to have 2,060 in operation by the end of August, producing 184 PH/s. Story continues That’s a 229% increase in capacity. Is it just me, or does this all seem like a bit of sleight of hand? It’s as if the entire business is built upon quicksand. This makes me wonder about Marathon as a viable business. I don’t understand how any sane investor can evaluate this opportunity. Why Shouldn’t You Buy MARA Stock? Marathon is paid in bitcoin (BTC) and ether (ETH) for the mining transactions it performs. Due to the fact, the number of bitcoins can’t exceed 21 million, the transactions it performs, theoretically, become more valuable over time. According to the Bitcoin Clock, all 21 million bitcoins will be mined by 2140. Therefore, there are still 120 years for someone else to capture a big chunk of the market. Unless I’m missing something, a cryptocurrency version of Barrick Gold (NYSE: GOLD ) could swoop in with its billions of cash and permanently impair Marathon’s business. However, let’s assume this doesn’t happen. Chief executive officer Merrick Okamoto believes that with 2,060 miners operating at 184 PHs, the company will be cash-flow positive. In the company’s quarter ended March 31, it had a cash flow of -$1.1 million on $592,487 of mining revenue. Its gross margin in the first quarter was -95.0%, a 21% improvement from its gross margin of -120.5% a year earlier. Looking at its income statement for Q1 2020, the 157% increase in mining revenue is a step in the right direction. That said, I have no idea whether the market capitalization of $116.9 million [based on 30.1 million shares outstanding] is overvalued, undervalued, or just about right. According to Morningstar.com , it has 12-month trailing sales of $1.55 million or 5 cents a share. That works out to a price-to-sales ratio of 77.6, a ridiculous multiple for a company with less than $2 million in revenue. Evaluating Its Potential So, how should investors evaluate Marathon Patent Group stock? Quite honestly, I couldn’t tell you. I happened to read a blurb from Coindesk contributor Zack Voell, who quoted Messari bitcoin analyst, Ryan Watkins. “‘Spillover from a resurging interest in cryptocurrencies’ is one reason for recent gains in mining stocks, according to Ryan Watkins, a bitcoin analyst at Messari. ‘It’s natural for mining stocks to rise with cryptocurrencies.’” Voell goes on to say the analyst belies investors have priced in a bull market for bitcoin, which ought to produce a massive surge in revenue for Marathon. Honestly, unless you fully understand cryptocurrencies, I don’t think you have any business owning MARA stock. I’ve been asked to write about a lot of speculative stocks in recent weeks. This one takes the cake. Will Ashworth has written about investments full-time since 2008. Publications where he’s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG America’s #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 How Should Investors Evaluate Marathon Patent Group? appeared first on InvestorPlace . || Power Struggle Inside Bitmain ‘Hard Forks’ Bitcoin Miner Production: The ongoing battle between the co-founders at Bitmain has now essentially hard forked the world’s largest bitcoin miner manufacturer into two different operations and supply chains for making its flagship AntMiner equipment. Wu Jihan, the co-founder who ousted his rival co-founder Micree Zhan Ketuan last year, registered a new entity on July 16 in Shenzhen, China. The new entity, called Guiji Yanghang, is a subsidiary of another recently incorporated company named Beijing Guiyuan Dalu, which is controlled by Wu’s side. Wu removed Zhan from Beijing Bitmain in October, following a long-time power struggle between the two. But Zhan made his comeback in June to control the entity again after winning favor from authorities earlier this year. Related: Bitmain One person familiar with Wu’s plan, who wasn’t authorized to speak, said the new Shenzhen entity is to build out a separate supply chain and manufacturing process for making the AntMiner product. This is a countermove to Zhan also taking over Beijing Bitmain’s long-time Shenzhen factory after his return to power last month. Bitmain, which raised more than $700 million in 2018, was once the most-valued crypto startup in the world at a staggering $14.5 billion valuation. But its dominance in the crypto mining industry has been seriously eroded by competitors since last year amid its internal power fight for control of the company. Wu’s move is the latest twist in a power struggle that could create greater confusion for global customers buying the firm’s equipment. It might be unclear, for example, which side would own the AntMiner brand, its shipment logistics and the post-sale services. Read more: Leaked Transcript Details Power Struggle Inside Bitcoin Mining Giant Bitmain Related: Bitmain Co-Founder Offers Share Buyback at $4B Valuation to End Power Struggle In an internal letter last Friday, Wu explained to all staff at Bitmain again that he had to return last year to take the reins in order to save Bitmain from a cash flow shortage of several hundred million dollars, allegedly caused by Zhan. Story continues Wu added in the letter that he has initiated an alternative supply chain plan to substitute the role of the existing Shenzhen factory that’s affecting the firm’s product shipment. The official WeChat account of the AntMiner brand maintained by Wu’s side published a notice on Monday, apologizing to customers that shipments that were already due by the end of June will be delayed again, citing “external disruption to the company’s management recently.” Further, with Zhan having rehired Bill Zhu, the head of sales at Bitmain who was let go after Wu’s coup last year, the two sides now also maintain their own sales staff. “The next phase of the dispute could focus on the chip ownership [of AntMiner],” the person said. Comeback After being pushed out last October, Zhan, as the largest shareholder of Bitmain, made his way back on June 3 after winning favor from Chinese authorities. In early May, authorities granted him control of Beijing Bitmain Technology, the long-standing operational entity of Bitmain. In a countermove, Wu registered the Beijing Guiyuan Dalu on May 26 and had been trying to transfer the contracts of employees on his side to the new entity. Following his return, Zhan also took over Beijing Bitmain’s Shenzhen factory called Century Cloud Core, where his brother-in-law remains the person in charge, and withheld miner shipments for customers who paid their pre-orders to bank accounts controlled by Wu’s side. Read more: Bitmain’s Power Struggle Takes Toll on Customers as Co-Founder Halts Shipments A second person with knowledge of Bitmain’s internal situation said the Shenzhen factory issue caused pressure for Wu from customers whose shipment was due. As such, creating a separate new line of supply chain and production is a method attempting to resolve the supply chain situation. But it’s unclear at this stage how soon production can begin as Wu would need to persuade technical staff with knowledge of handling the integrated circuit process to come over to his side. Most of them had been working closely with Zhan, the person added. AntMiner trademark Public records show that an effective AntMiner trademark has at least been registered in mainland China and Hong Kong, both filed and owned by Bitmain’s Singapore entity called Bitmaintech Pte. Intriguingly, the same Singapore entity filed a new application for a trademark named “Bitmain Antrack” on June 5, two days after Zhan’s return. But product details relating to this trademark aren’t clear at this stage. Bitmaintech Pte is in parallel with Bitmain Technologies Limited, which is registered in Hong Kong. The two are both direct subsidiaries of BitMain Technologies Holding, the ultimate parent holding group incorporated in the Cayman Islands that controls all Bitmain entities. Read more: How Was It Possible for Bitmain to Oust Its Largest Shareholder Overnight? Zhan owns 36% of the holding group while Wu owns 20%. The Hong Kong entity further owns Beijing Bitmain as well as Beijing Guiyuan Dalu. Currently, Zhan’s side controls Beijing Bitmain and its Shenzhen factory Century Cloud Core while Wu controls Guiyuan Dalu with the new supply chain subsidiary. But as of July 2, a corporate filing of Bitmain Technologies Limited with the Hong Kong government shows that Wu was still the sole executive director at the Hong Kong entity’s board. The two sides have an ongoing legal battle in the Cayman Islands. The legal decision could mark an end to their internal fight as it will rule on whether Zhan still has the dominant voting power over all issues at Bitmain’s parent holding group. Related Stories Power Struggle Inside Bitmain ‘Hard Forks’ Bitcoin Miner Production Power Struggle Inside Bitmain ‘Hard Forks’ Bitcoin Miner Production
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 10369.56, 10131.52, 10242.35, 10363.14, 10400.92, 10442.17, 10323.76, 10680.84, 10796.95, 10974.91
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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 for 2020-06-25]
BTC Price: 9264.81, BTC RSI: 45.77
Gold Price: 1762.10, Gold RSI: 59.50
Oil Price: 38.72, Oil RSI: 58.40
[Random Sample of News (last 60 days)]
Consumer Watchdog Moves to Block Canadian Bitcoin Miner From US Power Grid: Consumer advocacy group Public Citizen is trying to stop Canadian firm DMG Blockchain from plugging its bitcoin mining rigs into the American power grid. In a letter published Thursday, the nonprofit implored the U.S. Department of Energy (DOE) to scrutinize, if not outright reject, DMG Blockchain’s bid to export U.S. electricity to Canada and moved to intervene. The group’s Energy Program Director Tyson Slocum and Climate Program Director David Arkush co-wrote the letter . DMG Blockchain has been aggressively expanding its cryptocurrency mining capacity in recent months. On May 27, the data center operator tripled its fleet of ASIC miners by adding 1,000 M30s. Two days later, it applied for permission to export U.S. electricity, writing that its 15 megawatt mining operation will grow to 60 megawatts in the next year. Related: Bitmain Co-Founder Offers Share Buyback at $4B Valuation to End Power Struggle “The DMG application is unique in that it represents a maiden effort by an energy-hungry cryptocurrency-mining industry to import electricity from the United States to Canada to meet its significant power demands,” Slocum and Arkush said. Read more: US Watchdog Groups Call for Congress to Put a Freeze on Facebook’s Libr a Slocum and Arkush said power utilities in Washington state have banned crypto miners for putting too much load on the grid. Washington butts up against DMG’s home territory of British Columbia, and both locations are attractive to crypto miners because of ample hydropower. They also suggested DMG’s application may skirt federal laws prohibiting electricity exports that undermine or impair the U.S. power supply. For this, they cited crypto mining’s “staggering” energy waste, its upward impact on energy prices, the possibility that it could interfere with local attempts to introduce renewable power sources and climate change. Related: Bitcoin Miner Maker Ebang Estimates $2.5M Loss for Q1 in IPO Prospectus Update Story continues “U.S. cryptocurrency miners are struggling to meet their own power demands,” they said. They warned DOE an approval could trigger a “rush” in foreign cryptocurrency miners looking to export U.S. electricity. But Canadian crypto miners are already buying U.S. electricity though third-party power brokers, according to DMG Blockchain COO Sheldon Bennett. He said his 33-acre blended data center – it runs bitcoin rigs alongside traditional servers – will do the same if DMG’s export application is not ultimately approved. Bennett said Public Citizen’s letter demonizes cryptocurrency mining without paying much attention to the far-heavier electrical load of other transaction-focused firms, like PayPal. Additionally, he argued that the watchdog was ignoring the fact that the Pacific Northwest’s dams produce more electricity than locals can conceivably use. That glut’s only grown larger during COVID-19. “We are like little droplets in the ocean compared to the amount of electricity that’s out there,” he said. UPDATE (20:30 6/25/2020) : This article has been updated to include comment from DMG Blockchain. Related Stories Consumer Watchdog Moves to Block Canadian Bitcoin Miner From US Power Grid Consumer Watchdog Moves to Block Canadian Bitcoin Miner From US Power Grid || The Crypto Daily – Movers and Shakers -16/05/20: Bitcoin slid by 4.90% on Friday. Reversing a 5.14% rally from Thursday, Bitcoin ended the day at $9,311.2. A mixed start to the day saw Bitcoin slide from an intraday high $9,848.9 to an early morning low $9,260.0. Bitcoin fell through the first major support level at $9,391.9 before recovering to $9,800 levels. The recovery was brief, however. Through the 2 nd half of the day, Bitcoin slid to a late intraday low $9,130.2. Bitcoin fell back through the first major support level to wrap up the day in the deep red. The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000. For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend. The Rest of the Pack Across the rest of the majors, it was a bearish day on Friday. Binance Coin (-4.33%), Bitcoin Cash SV (-4.39%), Ethereum (-4.28%) and Monero’s XMR (-4.15%) led the way down. Bitcoin Cash ABC (-2.91%), Litecoin (-2.98%), Ripple’s XRP (-3.13%), Stellar’s Lumen (-3.00%), Tezos (-2.51%), and Tron’s TRX (-3.39%) weren’t far behind. Cardano’s ADA and EOS saw more modest losses of 1.49% and 1.73% respectively. Through the current week, the crypto total market cap rose from a Monday low $229.41bn to a Thursday high $265.28bn. At the time of writing, the total market cap stood at $256.87bn. Bitcoin’s dominance visited sub-67% levels before recovering. At the time of writing, Bitcoin’s dominance stood at 67.2%. 24-hour trading volumes rose to an early Monday high $206.86bn before easing back to sub-$140bn levels. Interest picked up on mid-week, however, with volumes revisiting $190bn levels. At the time of writing, 24-hr volumes stood at $148.96bn. This Morning At the time of writing, Bitcoin was up by 0.56% to $9,363.6. A mixed start to the day saw Bitcoin fall to an early morning low $9,222.0 before striking a high $9,417.0. Story continues Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a bullish start to the day for the majors. Bitcoin Cash ABC and Monero’s XRM led the way with gains of 1.35% and 1.31% respectively. For the Bitcoin Day Ahead Bitcoin would need to move through to $9,430 levels to bring the first major resistance level at $9,730.0 into play. Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $9,417.0. Barring an extended crypto rebound, the first major resistance level and Friday’s high $9,848.9 would likely limit any upside. In the event of rebound, the 62% FIB of $10,034 could come into play before any pullback. Failure to break back through to $9,430 levels could see Bitcoin hit reverse. A fall back through the morning low $9,222.0 would bring the first major support level at $9,011.3 into play. Barring a crypto sell-off, however, Bitcoin should steer clear of the second major support level at $8,711.4. This article was originally posted on FX Empire More From FXEMPIRE: Silver Weekly Price Forecast – Silver Markets Explode to The Upside Natural Gas Price Forecast – Natural Gas Gives Up Early Gains European Equities: A Week in Review – 16/05/20 EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 16/05/20 Crude Oil Weekly Price Forecast – Crude Oil Markets Make Strong Statement Gold Price Prediction – Prices Break Out on Soft Retail Sales || A Dozen+ Statistics Proving Millennials Are F%#$&D: The Breakdown Weekly Recap: An economic comparison of where boomers were at the same age as millennials leads to only one conclusion: Millennials are screwed. For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . This episode is sponsored by Bitstamp and Ciphertrace . Related: Bitcoin Only Matters Because the Game Is Rigged The big narrative in financial media for the last few weeks has been the insurgent Robinhood rally, led by the AC/DC-blaring Pied Piper Dave Portnoy, owner of Davey Day Trader Global Global (DDTG Global). As people try to make sense of the strange retail trading phenomenon, one perspective is the participants (average age of 31 on Robinhood) are reacting to a market that has left them behind. In this view, they are assaulting the market with otherwise outrageous and ludicrous strategies because, otherwise, how will they get their piece? See also: The Chad Index Versus Doomer Internet Money: The Breakdown Weekly Recap This week’s Breakdown Weekly Recap looks at this in the context of some surprising (and frankly depressing) stats about the millennial generation’s current wealth, as compared to where boomers were at the same time in their careers. This week on The Breakdown: Related: Why Monetary Debasement Is Here to Stay, Feat. Dr. Vikram Mansharamani Monday | Sorry, Bloomberg: Here Are 6 Reasons Why 2020 Is a Great Year for Bitcoin A Bloomberg senior editor today argued there were six reasons why 2020 was bad for bitcoin . Here’s the opposite case. Tuesday | From Moral Hazard to Business as Usual, Feat. Jesse Felder A leading independent financial analysis shares thoughts on the “Robinhood rally,” Fed policy and why Modern Monetary Theory (MMT) is already here. Wednesday | What Satoshi Understood: Nobody Knows You’re a Dog on Social Media, Feat. The Crypto Dog Story continues A conversation about pseudo-anonymity, global digital nomadism and the trader’s mindset. Thursday | 6 Things Jobless Claims Tell Us About the State of the Real Economy Persistent unemployment and fears of further layoffs are the real economic counterpoint to the financial market’s unbridled enthusiasm. Friday | Why Monetary Debasement Is Here to Stay, Feat. Dr. Vikram Mansharamani From technology to aging demographics, some of the most important trends shaping the economy have been deflationary. What happens when that rapidly changes? For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . Related Stories A Dozen+ Statistics Proving Millennials Are F%#$&D: The Breakdown Weekly Recap A Dozen+ Statistics Proving Millennials Are F%#$&D: The Breakdown Weekly Recap || Bitcoin Still on Track for Quarterly Gains After Drop Toward $9K: Bitcoin looks set to end its three-quarter losing run despite having dropped to $9,000 earlier on Thursday. At 03:35 UTC, the leading cryptocurrency by market cap printed a low of $9,002, extending Wednesdays 3.5% decline, according to CoinDesks Bitcoin Price Index . The pullback from Mondays high of $9,800 to $9,000 could be associated with risk aversion in the traditional markets fueled by mounting trade tensions, renewed coronavirus fears and the International Monetary Funds decision to downgrade global growth forecasts. Related: Market Wrap: Bitcoin Tests $9K as Market Struggles With Uncertainty Bitcoin has recovered a little to $9,250 at press time and is down 5% from Mondays high. Even so, bitcoin is still up 44% from the April 1 opening price of $6,428. A quarterly gain would be confirmed if prices hold above that level through June 30. The cryptocurrency is on track to report its first quarterly rise since the April-June period of 2019. Back then, prices rallied by 163% to reach a high of $13,800, which remains unchallenged to date. While bitcoin can be volatile often adding or losing more than $1,000 in a matter of a few minutes analysts do not see prices falling all the way back to $6,428 in the short term. Related: Summer 2020 Is Funding Season for Open-Source Bitcoin Development We believe bitcoin will continue to trade sideways, albeit at a wider range with pulses of volatility scraping along time to time until it breaches the upper resistance of $10,000, said Lennard Leo, head of research at Stack, a provider of cryptocurrency trackers and index funds. See also: Bitcoin Options Market Faces Record $1 Billion Expiry on Friday The cryptocurrency is lacking a clear directional bias for the fifth straight week with prices still languishing in the restricted range of $9,000 to $10,000. Sellers failed to penetrate the lower end of the trading range early Tuesday. Story continues While no significant spot inflows were observed around $9,000, we are seeing strong bid volumes around $8,500, which could have provided the added layer support, causing the quick rebound to $9,250, Neo told CoinDesk. The bounce has ratified our view that bitcoin is still consolidating, and a further steep crash to below $7k is highly unlikely. Meanwhile, Stack CEO Matthew Dibb said the fundamentals of bitcoin have not deviated much from the firms bullish view and that the recent dull trading could be due to increased investor interest in ether and decentralized finance (DeFi). Many crypto-native investors have been occupied in the decentralized finance (DeFi) market, hunting yield and arbitrage opportunities, he said. The recent speculative frenzy surrounding the lending protocol Compounds new digital token, COMP, is the latest example of DeFi mania. Savvy traders are now executing complex arbitrage strategies to make gains on COMPs meteoric growth. Bitcoins quarterly gain could still take a knock if global stocks remain weak ahead of the close of June. The cryptocurrencys positive correlation with equities has strengthened over the past two weeks alongside the resurgence of COVID-19 jitters in the markets. See also: Singapore Begins Crackdown on Unlicensed Bitcoin Sellers The majority of the quarterly gain is the result of the strong rally seen in April. But the cryptocurrency has persistently failed to keep gains above $10,000 since early May, a sign of uptrend exhaustion. In addition, increased miner outflows to exchanges are suggesting scope for a short-term price drop. As a result, a greater pullback cannot be ruled out. On the downside, major support is located at $8,300 (200-day moving average). Disclosure: The author holds no cryptocurrency assets at the time of writing. Related Stories Bitcoin Still on Track for Quarterly Gains After Drop Toward $9K Bitcoin Still on Track for Quarterly Gains After Drop Toward $9K || The Gross Law Firm Announces Class Actions on Behalf of Shareholders of CAN, TLRY and NCLH: NEW YORK, NY / ACCESSWIRE / April 28, 2020 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly-traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery. Canaan Inc. ( CAN ) Investors Affected: publicly traded securities of Canaan, including its American Depository Shares pursuant and/or traceable to the Company's registration statement and related prospectus issued in connection with the Company's November 20, 2019 initial public offering. A class action has commenced on behalf of certain shareholders in Canaan Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the purported "strategic cooperation" was actually a transaction with a related party; (2) the company's financial health was worse than what was actually reported; (3) the company had recently removed numerous distributors from its website just prior to the initial public offering, many of which were small or suspicious businesses; and (4) several of the Company's largest Chinese clients in prior years were clients who were not in the Bitcoin mining industry and, thus, would likely not be repeat customers. Shareholders may find more information at https://securitiesclasslaw.com/securities/canaan-inc-loss-submission-form/?id=6237&from=1 Tilray, Inc. ( TLRY ) Investors Affected: January 15, 2019 - March 2, 2020 A class action has commenced on behalf of certain shareholders in Tilray, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the purported advantages of the marketing and revenue sharing agreement with Authentic Brands Group (the "ABG Agreement")were significantly overstated; (ii) the underperformance of the ABG Agreement would foreseeably have a significant impact on the Company's financial results; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times. Story continues Shareholders may find more information at https://securitiesclasslaw.com/securities/tilray-inc-loss-submission-form/?id=6237&from=1 Norwegian Cruise Line Holdings Ltd. ( NCLH ) Investors Affected: February 20, 2020 - March 12, 2020 A class action has commenced on behalf of certain shareholders in Norwegian Cruise Line Holdings Ltd . The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the Company was employing sales tactics of providing customers with unproven and/or blatantly false statements about COVID-19 to entice customers to purchase cruises, thus endangering the lives of both their customers and crew members; and (2) as a result, Defendants' statements regarding the Company's business and operations were materially false and misleading and/or lacked a reasonable basis at all relevant times. Shareholders may find more information at https://securitiesclasslaw.com/securities/norwegian-cruise-line-holdings-ltd-loss-submission-form/?id=6237&from=1 The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT: The Gross Law Firm 15 West 38th Street, 12th floor New York, NY, 10018 Email: dg@securitiesclasslaw.com Phone: (212) 537-9430 Fax: (833) 862-7770 SOURCE: The Gross Law Firm View source version on accesswire.com: https://www.accesswire.com/587458/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-CAN-TLRY-and-NCLH || First Mover: Bloomberg’s Pie-in-the-Sky Bitcoin Call Looks Directionally Defensible: Option market traders look to be placing bets for a continued upward move in bitcoin, according to a key metric.
The put-call open interest ratio, which measures the number of put options open relative to call options, fell to 0.43 on Thursday – the lowest since March 24, according to crypto derivatives research firmSkew. The data takes into account open interest at leading derivatives exchanges Deribit, OKEx, CME, LedgerX and Bakkt.
Notably, the ratio has declined sharply from 0.81 to 0.43 over the last four weeks.
“The put-call ratio can gauge the overall sentiment of traders and the lower ratio dictates that more traders are buying calls (bullish bets) than puts (bearish bets),” according to Lennard Neo, head of research at Stack, a provider of cryptocurrency trackers and index funds. “The decline toward 0.4 indicates that some form of bullishness is building,” he said.
However, it is possible to argue that increased selling of calls is causing a drop in the put-call ratio. After all,open interest refersto the number of calls and put contracts that are active, or open, at a given point in time and does not reveal whether investors are buying call/put options or selling (known as “writing” in options markets).
Traders usually buy calls when the market is expected to rise and buy puts when prices are likely to fall. That said, experienced traders often sell calls when the market is expected to remain range-bound and not rise beyond a certain level. Selling a call or put can be equated to selling a lottery ticket, where the maximum profit for the seller is the ticket price. The loss is huge if the buyer wins the lottery.
However, in this instance, the decline in the ratio does look to have been fueled by increased call buying, a sign of bullish sentiment, as calls are commanding higher prices than puts.
Related:Bullishness Building in Bitcoin Options Market, Data Suggests
The one-month put-call skew, which measures the price of puts relative to that of calls, is currently at -1.9%. Three-month and six-month skews are also reporting negative values.
“The move lower in the put-call ratio likely reflects the sharp increase in call buying on the Chicago Mercantile Exchange (CME)”, said Shaun Phoon, senior trader at Singapore-basedQCP Capital.
Data from CME, which is considered synonymous with institutional and macro trading, does show that the market is currently being driven almost entirely by the activity in calls.
“As of June 4, about 25,000 bitcoin worth of call contracts were open in total and most of those are between the $10,000 to $15,000 strikes,”Ecoinometrics, a bitcoin analysis company,noted in its daily newsletter.
Currently, there are 51 calls open against one put option. Clearly, the CME options market is heavily skewed to the bullish side.
“The put-call open interest ratio has proven its fortitude and has dictated the right direction over the past few major moves such as the Fed decline, and post-crash rally,” said Stack’s Neo.
The previous two instances of sub-0.5 readings on the ratio observed in early January and in the second half of March coincided with the beginning of major upswings in prices.
The ratio bottomed out at 0.42 on March 24, after the cryptocurrency had dropped close to $6,500. In the following six weeks, prices rose back to highs above $10,000.
The likely scenario is that the options market is anticipating another move above $10,000. Bitcoin, however, needs to build a strong base above that level, as that would likely draw stronger chart-driven buying. Over the last 12 months, bitcoin has failed multiple times to keep gains above $10,000.
Disclosure:The author holds no cryptocurrency at the time of writing.
• The Free Market Will Determine Cardano’s Fate: IOHK’s Charles Hoskinson
• Bitcoin Is a Way to Repair Economic Injustice: Author Isaiah Jackson || DEADLINE MONDAY: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Canaan Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm: Los Angeles, California--(Newsfile Corp. - May 1, 2020) - The Schall Law Firm , a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Canaan Inc. (NASDAQ: CAN) ("Canaan" or "the Company") for violations of the federal securities laws. Investors who purchased the Company's securities pursuant and/or traceable to the Company's initial public offering ("IPO") on or about November 20, 2019, are encouraged to contact the firm before May 4, 2020. If you are a shareholder who suffered a loss, click here to participate . We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com , or by email at brian@schallfirm.com . The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member. According to the Complaint, the Company made false and misleading statements to the market. Canaan claimed to engage in "strategic cooperation" which was really just a related-party transaction. The Company was in a weaker financial position than it reported. The Company removed many distributors immediately before the IPO, many of which were of dubious quality. Many of the Company's Chinese customers were not in the Bitcoin industry and were therefore not likely to buy its products again. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Canaan, investors suffered damages. Join the case to recover your losses. The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. Story continues This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics. CONTACT: The Schall Law Firm Brian Schall, Esq., www.schallfirm.com Office: 310-301-3335 info@schallfirm.com SOURCE: The Schall Law Firm To view the source version of this press release, please visit https://www.newsfilecorp.com/release/55256 || Crypto Long & Short: What Changed My Mind About Bitcoin Narratives: One of the things I most enjoy about working in the crypto sector (apart from my awesome colleagues and the constant flow of fascinating change) is the level of debate. I’m not being sarcastic. There are many takes I strongly disagree with, but when they are put forward by people with rational and inquisitive minds (which can be most of the time, depending on your Twitter filters), the engagement invariably ends up enriching my own opinion. And, sometimes, bouncing someone else’s conviction off yours opens your eyes to nuances you hadn’t seen. Who knows? Entertaining conflicting points might actually change minds. Now, when you take two intelligent opinions that you don’t agree with, throw them together with yours and stir them up a bit, magic can do its uncomfortable thing. That happened to me this week. Related: Liquidity on Bitcoin Perpetuals Exchange FTX Catches Up to Industry Leader BitMEX You’re reading Crypto Long & Short , a newsletter that looks closely at the forces driving cryptocurrency markets. Authored by CoinDesk’s head of research, Noelle Acheson, it goes out every Sunday and offers a recap of the week – with insights and analysis – from a professional investor’s point of view. You can subscribe here . Many of you will already have seen Bloomberg commentator Joe Weisenthal’s list of six reasons why bitcoin has not had a great year. To recap, they were a lack of new highs, its new correlation with the S&P 500, disappointingly resilient fiat currencies and inflation levels, and a new competitor for the volatility trade in the form of stocks. Of course, there were many reactions. One of the best responses I’ve seen was from Nathaniel Whittemore, who stressed the progress made in institutional uptake, growth in emerging market demand and bitcoin’s endurance. Another was from Messari’s Ryan Selkis, who objected to Joe’s interpretation of bitcoin narratives and timeframes. I expand on some of my objections further down. Story continues A different angle The other analysis I disagreed with this week was from JPMorgan, although their take was almost the opposite of Joe’s. Related: Bitcoin News Roundup for June 22, 2020 A report shared with the investment bank’s clients and seen by CoinDesk boldly stated bitcoin has had a good year so far, highlighting that, even through the market turmoil in March, the cryptocurrency only briefly dipped below its cost of production. It also points out that liquidity in bitcoin markets was more resilient than in other more traditional markets. The analysis concludes that this points to a long and happy life for bitcoin, but more as a vehicle of speculation than as a store of value. So, here we have Joe hinting bitcoin has had a disappointing first half because it didn’t have spectacular price moves relative to other asset groups, and JPMorgan inferring it’s had an unexpectedly good first half for the same reason. In my opinion, they are both missing the point. But my disagreement with them changed my mind about something. Common factors Both JPMorgan and Joe seem to assume there is a clear narrative around bitcoin’s value. JPMorgan equates bitcoin’s intrinsic value with its mining costs, although this is difficult to reliably calculate and reflects only a small part of the ecosystem. What’s more, mining costs could come down in line with lower energy prices, which does not mean bitcoin’s intrinsic value will come down if we rely on the “what an asset is worth” definition of the term. The analysts also infer that bitcoin’s current correlation with the S&P 500 represents the breakdown of its store of value potential, which overlooks the nature of backward-looking short-term calculations. Joe understands bitcoin’s fundamental value is hard to quantify, and focuses on price as the principal metric that both shapes and is shaped by narratives. He assumes we have been waiting for specific triggers to drive up the price, that they have not materialized and therefore our narratives are wrong and bitcoin is not doing well. Both Joe and JPMorgan seem to believe the overriding narrative for bitcoin today is that of speculative asset. This is a valid viewpoint, but not one that I share – for me, bitcoin is a technology play that will change the meaning of markets. I also don’t buy into Joe’s focus on price, and his assumption the market as a whole expects sharp movements based on certain catalysts. And I’m not convinced by JPMorgan’s conclusion that recent price action points to bitcoin’s continued use as a speculative asset – this week CoinDesk reported more than 60% of bitcoin held in wallets has not moved in over a year. Thinking about why I disagreed, however, made me realize something I have been overlooking. I have always regarded bitcoin’s lack of a clear narrative as a strength. I was wrong – it is both a strength and a weakness. The plus and the minus It’s a strength in that the story is still unfolding. Bitcoin’s main use case is yet to be determined. Many see it as a store of value, in that it has no explicit economic drivers other than a limited supply. Others see it as a speculative asset that swings on sentiment and whose volatility can be harnessed to produce higher returns. For part of the world, it is a stable currency. For some, a venture investment. In other words, bitcoin is not a one-trick pony – the demand growth from any one of its many narratives could be enough to push up its value. Having many threads to pull on is also a weakness, however, because investors like clear narratives. Professional managers generally need to justify their allocation decisions, and bitcoin’s story is confusing. Even Paul Tudor Jones expressed skepticism at the success of his preferred narrative, that of digital gold, but invested anyway based on probabilities and price. Bitcoin’s lack of a clear value and a diluted understanding of its fundamentals lead many smart people such as Joe to focus on price performance as a barometer for success. It’s there, easy to watch, easy to track. And in a markets-centric world, that’s good enough for some. Value, on the other hand, depends partly on fundamentals, which in the case of cryptocurrencies are still poorly understood. It also depends on sentiment, which is the result of stories and expectations, not just of cryptocurrencies but also of environments and influencing factors. You think bitcoin has confusing narratives? Let’s talk about tech stocks, oil, the dollar, take your pick. So while I still believe rapidly evolving narratives around bitcoin are an opportunity, and that the fundamental value drivers of the cryptocurrency will become better understood with time and patience, I also accept now that a lack of clarity around what those are makes the price an understandable value proxy for many. The formula However, recent market trends have shown us price is increasingly disassociated from value, not just in cryptocurrencies. In today’s stock, bond and even currency markets, price is often totally out of whack with the underlying potential. It doesn’t mean that price is not important; it just means that it’s not something that should be taken as a proxy for value – or for success – as we look forward. As an industry, we need to work on honing our understanding of the many narratives, and how they can influence value. We all need to learn to ask deeper questions, to entertain conflicting ideas and to accept that we just don’t know what the winning story – if there is one – will be. We’re getting better at metrics, a broader range of people are participating and our collective understanding is moving forward every day. But stories evolve, as they must to survive. We need to work on giving the stories scrutiny, as well as a broader vocabulary and set of tools that can enhance their telling. Anyone know what’s going on yet? Talk about conflicting signals: Stocks seem to be pricing in a booming economy, bonds are forecasting a protracted downturn in spite of heavy government and central bank buying, and currencies are all over the place. Given the momentum, investors seem to be accepting this conflict – the worry is that it becomes the new normal. Signs of a COVID-19 resurgence, though, are causing some jitters – but even so, the reality of the economic damage does not seem to have sunk in, in spite of even the Chairman of the Federal Reserve warning of hardship ahead. Bitcoin has had a lackluster month so far, underperforming most other asset groups while maintaining its newfound correlation with the S&P 500. Chain links WisdomTree Trust has filed for an ETF that may invest up to 5% of its net assets in the Chicago Mercantile Exchange’s (CME) bitcoin futures contracts. If approved, the rest of the fund would be invested in traditional commodities. TAKEAWAY: Early last year Reality Shares filed an exchange-traded fund proposal that included a partial investment in bitcoin futures, but the application was withdrawn at the SEC’s request. It’s possible the market and regulatory sentiment have evolved over the past 16 months such that this filing will meet a different fate – to start, there are differentiating technicalities between this filing and last year’s, and the bitcoin futures market has grown considerably. But we shouldn’t hold our breath. If it does get approved, it will not have the same market impact as a straightforward bitcoin ETF, given the fund’s limited exposure and focus on the futures markets. Asset manager Wilshire Phoenix has filed to launch a bitcoin investment trust. TAKEAWAY: Like the Grayscale* bitcoin trust, if approved this will list on an OTC market and have fixed redemptions. Grayscale’s GBTC bitcoin trust is often criticized for the high premium retail investors have to pay to buy shares on the secondary market. If approved, this trust could add competition and reduce the premiums. Or, in the absence of a bitcoin ETF, demand could grow such that we’ll have two sets of high premiums. (*Grayscale is owned by DCG, the parent of CoinDesk.) Mason Privatbank Liechtenstein AG has become the latest private bank to offer digital asset custody through a partnership with Hong Kong-based Hex Trust. TAKEAWAY: News about European private banks offering crypto services seems to be gracing our headlines more frequently these days. These banks tend to be small by U.S. standards, but they focus on institutional clients and high-net-worth individuals, so their potential reach when it comes to crypto services is significant. And the range of services they are offering is similar to full prime brokerage, with trading, custody, lending and banking services rolled into one. We will most likely see more announcements like this in the remainder of the year, each of which provide new onramps to satisfy the growing interest they expect to see. After two years of development, Komainu – a joint venture between Nomura Holdings, CoinShares and Ledger – has launched to offer crypto asset custody to institutional investors. TAKEAWAY: The entity is based in the U.K.’s Jersey Channel Islands, and will provide custody, compliance and insurance services. The pedigree of the partners is interesting: Nomura is one of Japan’s largest investment banks (yes, a legacy bank investing in crypto custody!), and Ledger is one of the sector’s original custodians. CoinShares is one of the sector’s longest-running asset managers (as well as manager of a handful of listed crypto funds), and now also provides trading services, index management and tokenized assets. With the addition of custody, could CoinShares be angling to break into the crypto prime brokerage business? Codefi, backed by Ethereum development group ConsenSys, is working on an Eth 2.0 staking API, which aims to help large exchanges, wallet providers, custodians and funds earn income from a portion of their crypto asset holdings. TAKEAWAY: As the launch of the transition to Ethereum’s new blockchain nears*, interest in staking seems to be growing. This could pick up steam as demand is fueled by the record-low yields on other traditional asset groups, and as service providers become more robust and user-friendly. (*TEASER: We will soon be publishing a report on what this transition means for Ethereum and for investors.) Chinese bitcoin miner manufacturer Ebang estimates it incurred a net loss of $2.5 million on a revenue of $6.4 million for Q1 2020. This disclosure was posted this week in an update to the firm’s IPO prospectus filed with the SEC. TAKEAWAY: A Chinese loss-making company trying to raise shares in a U.S. listing? In these crazy markets, it could do very well. However, the listing may be denied due to a lack of inspected audits – or for a lack of revenue, or a number of other reasons. (For a detailed breakdown of the Ebang filing, see our report “Ebang IPO: Dude, where’s my revenue?” ) According to data from crypto analytics firm Glassnode, over 60% of all bitcoins have not moved in at least a year. TAKEAWAY: Contrary to some analyses (see THE BRIEFING above), this indicates that the buy-and-hold strategy is gaining ground. True, a chunk of these coins may be in wallets with lost keys, but the overall trend indicates that holders are still holding. The number of bitcoin that hasn’t moved in 2-3 years grew by over 25%. Jeff Dorman of Arca Funds compares the crypto asset universe to the bond market, arguing that the two asset groups have much in common in terms of investor specialization and arcane math. TAKEAWAY: Great insight into how valuation models are still evolving, and have a way to go still. The Financial Services Commission of Mauritius has created a regulatory regime for a full-fledged security token ecosystem. TAKEAWAY: This is interesting given that the island state was one of the early sovereign nations to embrace the potential of becoming a blockchain hub, and is pretty far along in setting up legal frameworks for a wide range of crypto-related businesses. Combine that with its status as a tax haven that has attracted a growing base of high-net-worth individuals, and the imminent likely blacklisting by Europe as a “high-risk third country,” and you can start to catch a glimpse of where fully functioning crypto financial system could flex its resilience, even if it’s at a small scale. Worth watching. Over a recent 30-day period, the total open interest for CME bitcoin options increased more than tenfold to over $370 million, making it the second largest bitcoin options market in the industry, behind Deribit. TAKEAWAY: Open interest for Deribit has also reached all-time highs, almost double the 2019 high reached almost exactly a year ago. This growth indicates a solid maturation of the crypto markets overall, and could unleash increasingly aggressive trading strategies as risk-takers feel more comfortable with the hedging tools available. Podcasts worth listening to: Bitcoin Is More Than an Inflation Hedge – The Breakdown, Nathaniel Whittemore Sorry, Bloomberg: Here Are 6 Reasons Why 2020 Is a Great Year for Bitcoin – The Breakdown, Nathaniel Whittemore From Moral Hazard to Business as Usual, Feat. Jesse Felder – The Breakdown, Nathaniel Whittemore Lord Mervyn King On The Wrong Use Of Monetary Policy In A Radically Uncertain World – Macro Hive, Bilal Hafeez ‘Stonks,’ the Rise of Retail Bros, & Powell’s Money Printer | Tony Greer – Hidden Forces, Demetri Kofinas Related Stories Crypto Long & Short: What Changed My Mind About Bitcoin Narratives Crypto Long & Short: What Changed My Mind About Bitcoin Narratives || China's Crypto Is All About Tracing and Power: (Bloomberg Opinion) -- The coronavirus has disrupted the world in very large ways. While that battle has been waged, however, another event has almost been missed: the birth of a new kind of fiat currency, which could forever reshape the relationship between money, economic power and geopolitical clout. An official Chinese digital yuan, more than five years in the making, is now in pilot runs to slowly start replacing the physical legal tender. If the experiment succeeds, this new cash, valued the same as the familiar banknotes bearing Mao Zedongs image, will become the worlds first sovereign token to reside exclusively in the ether. The trials are taking place just as the blame game around the coronavirus deepens mistrust between the U.S. and China. With President Donald Trump warning that Washington would respond if Beijing intervenes against protests and democratic movements in Hong Kong, chances of a detente from last years trade war are fading. Outside the Peoples Republic, the big question is if the digital yuan is a challenger to the dollar. Within China, though, theres a more mundane explanation for why Beijing wants to turn banknotes in circulation into virtual tokens. Chinese consumers have bypassed both computers and credit cards to embrace mobile payment apps, which have gone on to spawn large money-market funds investing in high-yielding wealth-management products. This has led to the accumulation of risks in opaque shadow banking. Bringing them out in the open requires a leg up for traditional lenders in payments, an area where financial technology has left them far behind. The digital yuan, which will be pushed out to consumers via banks, seeks to restore this missing balance; it will allow authorities to regulate an overstretched debt market more effectively, says DBS Group Holdings Ltd. economist Nathan Chow. Still, theres also a power play. It isnt a coincidence that Chinas project picked up speed last year as Facebook Inc. announced Libra. The proposed stablecoin promised to hold its value against a basket of major official currencies rather than gyrating wildly like Bitcoin. When it looked like regulators in the U.S. and elsewhere would nix this synthetic global cryptocurrency, the Libra Association curbed the scope of its undertaking. But the idea of a regulated global network for cost-effective retail payments, as described by Singapore state investor Temasek Holdings Pte, a new member of Libras Geneva-based governing body, remains alive. For Beijing to shake the dollars hegemony, it has to pre-empt Silicon Valley from taking the pole position. Story continues Hence the hurry for Chinas test runs. According to media reports, half the May transport subsidy for Suzhou municipal employees will be in the form of digital currency electronic payment, or DCEP, as its being called in the absence of a catchier moniker. The pilot plan in Xiongan, a satellite city of Beijing, includes coffee shops, fast food, retailers, theaters and bookstores, Goldman Sachs Group Inc. has noted. The other trials are reserved for Chengdu and Shenzhen. Thanks to Alipay and WeChat Pay, 80% of Chinese smartphone users whip out their mobiles to make payments, more than anywhere in the world. To them, the DCEP wallets being provided by the big four state banks should seem much the same. But there are differences. In this new system, a low-value transaction can go through even if both parties are offline. Also, this is sovereign liability, safe if an intermediary goes bankrupt. The big four lenders and later fintech firms will distribute the tokens, but the funds wont reside in bank accounts. This will be unlike existing payment apps that only move one institutions IOUs to another. Beijing was going to launch the digital money even before the pandemic. However, adoption could be faster now because of peoples fear of catching an infection from handling cash. Also, its possible to trace in real time whether an anti-virus subsidy, given out in tokenized form, is reaching the target. Once it has, the tracking would be turned off to ensure corporate and household spending stays anonymous, Goldman says. Strictly speaking, though, the anonymity of cash will no longer exist. Authorities can look under the hood of pseudonymous transactions for unwanted activity, an outcome far removed from the vision that drove libertarians (and money launderers) to cryptocurrencies in the first place. With the outbreak giving legitimacy to intrusive physical contact tracing, the case for financial tracing gets even stronger. Exchange of digital yuan between customers and merchants will pop up on a centralized ledger, and go through far more swiftly than in Bitcoin-style setups that rely on widely distributed ledgers of asset ownership. Every nation projects power when others desire its money something that costs the home country nothing to produce. But as with any digital network, the sovereign tokens that take off first could end up winning disproportionately. The digital yuan could find customers overseas, especially in places where China is making belt-and-road investments. For one thing, they wouldnt have to pay banks fat fees for running the $124 trillion-a-year business-to-business international transfers market. By distributing digital currency through banks, China has given its big institutions a chance to match the payment technology of fintech rivals. But its possible that a central bank in another country would bypass intermediaries altogether, potentially making the state the monopoly supplier of money to retail customers. That, as I wrote in December, could upend banking. The digital yuan may have started modestly, but it might pave the way for changes that are both ambitious and long outlast the coronavirus. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners. Andy Mukherjee is a Bloomberg Opinion columnist covering industrial companies and financial services. He previously was a columnist for Reuters Breakingviews. He has also worked for the Straits Times, ET NOW and Bloomberg News. For more articles like this, please visit us at bloomberg.com/opinion Subscribe now to stay ahead with the most trusted business news source. ©2020 Bloomberg L.P. || The Crypto Daily – Movers and Shakers -06/05/20: Bitcoin rose by 1.72% on Tuesday. Reversing a 0.40% decline from Monday, Bitcoin ended the day at $9,020.1. It was the first time Bitcoin held onto $9,000 levels since 6 th March. A mixed start to the day saw Bitcoin rally to a mid-morning intraday high $9,124.8 before hitting reverse. Bitcoin broke through the first major resistance level at $9,046.07 before sliding to a late morning intraday low $8,758.6. Steering clear of the first major support level at $8,601.27, rebounded through the afternoon to wrap up the day at $9,000 levels. In spite of the rebound, Bitcoin failed to break back through the first major resistance level. The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000. For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend. The Rest of the Pack Across the rest of the majors, it was a mixed day for the pack on Tuesday. Bitcoin Cash SV joined Bitcoin in the green, with a 1.86% gain, while Cardano’s ADA and EOS ended the day flat. It was a bearish day for the rest of the majors, with Tron’s TRX sliding by 2.56% to lead the way. Litecoin (-1.04%), Monero’s XMR (-1.24%), Stellar’s Lumen (-1.89%), and Tezos (-1.12%) weren’t far behind. Binance Coin (-0.76%), Bitcoin Cash ABC (-0.76%), Ethereum (-0.77%), and Ripple’s XRP (-0.55%) saw relatively modest losses. Through the start of the week, the crypto total market cap rose from a Monday low $240.56bn to a Tuesday high $252.06bn. At the time of writing, the total market cap stood at $248.97bn. While Bitcoin’s dominance held onto 65% levels following Monday’s modest loss, Tuesday’s trend-bucking move delivered 66% levels. At the time of writing, Bitcoin’s dominance stood at 66.2%. 24-hour trading volumes rose to a Monday high $164.25bn before easing back to a Tuesday current week low $145.07. At the time of writing, 24-hr volumes stood at $146.60bn. Story continues This Morning At the time of writing, Bitcoin was down by 0.67% to $8,959.4. A bearish start to the day saw Bitcoin fall from an early morning high $9,036.0 to a low $8.913.6. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was also a bearish start to the day for the rest of the majors. Bitcoin Cash SV and Monero’s XMR led the way down, with losses of 1.11% and 1.03% respectively. For the Bitcoin Day Ahead Bitcoin would need to move through to $8,970 levels to bring the first major resistance level at $9,177.07 into play. Support from the broader market would be needed, however, for Bitcoin to break out from Tuesday’s high $9,124.8. Barring a broad-based crypto rebound, resistance at $9,100 would likely leave Bitcoin short of the first major resistance level. In the event of another breakout, the second major resistance level at $9,334.03 could come into play. Failure to move through to $8,970 levels could see Bitcoin fall deeper into the red. A fall through the morning low $8,913.6 would bring the first major support level at $8,810.87 into play before any recovery. Barring a crypto meltdown, however, Bitcoin should well clear of the second major support level at $8,601.63. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD and NZD/USD Fundamental Daily Forecast – Aussie Traders Locked-in on Risk Sentiment US Stock Market Overview – Stocks Rally, but Ease into the Close Dragged Down by Energy USD/CAD Daily Forecast – Strong Oil Boosts Canadian Dollar Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 06/05/20 The Crypto Daily – Movers and Shakers -06/05/20 Economic Data and Geopolitics Keep the EUR and Greenback in Focus
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: no change || Prices: 9162.92, 9045.39, 9143.58, 9190.85, 9137.99, 9228.33, 9123.41, 9087.30, 9132.49, 9073.94
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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]
Not fully available.
[Random Sample of News (last 60 days)]
Ripple Surged 70% to Become the Third Most Valuable Digital Currency After Bitcoin and Ethereum: It is the age of cryptocurrencies and ICOs and we have been hearing news about the surge in Bitcoin prices and the flexibility of Ethereum. But on August 22nd, a cryptocurrency named Ripple hogged all the headlines as it rose 44% in one day and 70% in a matter of few days. Many people may not have heard what Ripple is but it is soon likely to become one of the most used currencies in the financial world with many banks and other financial institutions adopting it and moving towards using the underlying technology of Ripple.
On a base note, the Ripple currency is used to send and receive payments. So, as can be seen, unlike many other cryptocurrencies, Ripple has a solid fundamental that is underlying it and the use is also something that is very important in the financial world. It can be used by individuals to exchange money irrespective of where their banks are and this helps to move the funds around, all across the world. It uses a technology called interledger protocol where the money never exchanges hands but both the send and the receiver has access to it through a secure digital channel, with all records of the transactions in it, and this makes it a very secure transaction channel.
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Since the technology is very secure and it helps the institutions involved to save a lot of money, many banks have begun to adopt this technology. By last count, 12 banks have been using this. Apart from the bank, Google has also been one of the first backers of Ripple as it realised the potential involved. Since then, we have seen many venture capitalists also beginning to back Ripple.
So from the above, it is pretty clear that Ripple is on pretty solid footing. The team working on the currency is also very well known and also highly respected as well. With such good fundamentals, it is only a matter of time before the fundamentals show through and the potential is realised and the currency begins to move up and this could probably be that time. The traders and the investors certainly believe so and that is why we have been seeing the prices surge over the last few days.
The main interest for buying Ripple has come from South Korea. Of late, this country has become the center of trading as far as cryptocurrencies are concerned and it has been the leading buyer whenever there has been a surge in the prices of bitcoin and ethereum and even in the case of Ripple, a major part of the volume came from this country. Another fundamental reason for the South Koreans to show interest in Ripple are rumors that a major bank in that country, Kakao Bank could be preparing to adopt Ripple technology. This has not yet been confirmed by the bank.
Another rumor that is doing the rounds is that Ripple may expand to China and may even target that country as part of its major push. This is understandable given the fact that the Ripple technology helps in secure financial transactions at low cost and hence would be very useful in countries with large and fragmented population. That is why China and India would be very interested in using this technology as banks and other financial institutions in these countries, which have a large of their citizens outside the country and spread far and wide in the world, could use the Ripple technology to handle financial payments at very low cost. There is also another rumor that says that Alibaba, the tech and e-commerce giant, could be using Ripple technology for handling payments. Nothing has been confirmed as yet but it does speak volumes of the technology and the potential involved in Ripple.
Considering these developments, it is likely that the Chinese may also start showing interest in Ripple and this could drive the prices even higher. All this shows the interest generated in Ripple at the moment and this could be the fundamental driver for the price rise, right now. And the move into new markets is only going to increase the demand for Ripple in the short and medium term and hence, it is no wonder that its trading volumes are surging.
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• Commodities Daily Forecast – August 25, 2017 || Bitcoin technology faces split, may create clone virtual currency: By Gertrude Chavez-Dreyfuss and Anna Irrera NEW YORK (Reuters) - Bitcoin's underlying software code could be split on Tuesday to create a clone called "Bitcoin Cash," potentially providing a windfall for holders of the digital currency. The initiative is being led by a small group of mostly China-based bitcoin miners - who get paid in the currency for contributing computing power to the bitcoin network - who are not happy with proposed improvements to the currency's technology. They have initiated what is known as a "fork" - where blockchain, a public ledger of all bitcoin transactions, splits into two potential paths - that is set to be activated on Aug. 1. A fork, if it goes ahead, would be significant as it could create a new competitor for bitcoin, which remains the oldest and most valuable digital currency. It is not clear if the fork will happen and how much the new coin would be worth. If the fork goes ahead on Tuesday, anyone owning bitcoins before the split will have access to an equal amount of Bitcoin Cash for free, which they will then be able to trade for fiat currencies - legal tender backed by an issuing government - or other digital currencies. "This is somewhat like a stock split," said Jeff Garzik, chief executive and co-founder of Bloq, a blockchain company. "You go to sleep with 100 bitcoins and wake up in the morning with 100 bitcoins plus 100 'Bitcoin Cash', a new token." Bitcoin averted a split two weeks ago, when its software developers and miners agreed to implement a software upgrade called the Bitcoin Improvement Proposal (BIP) 91. BIP 91 was the first step toward a larger effort to upgrade bitcoin through software called SegWit2x, which would make the network faster at processing transactions, such as payments using the virtual currency. The miners, a powerful segment of the bitcoin community, represent a network of computer operators who validate information on the blockchain. Since bitcoin is powered by open-source code, any group of coders can use it to create clone coins. Futures of Bitcoin Cash are already trading on certain exchanges at around $282.40. Bitcoin traded at $2,806.27, according to coinmarketcap.com. If the fork goes ahead, users will only be able to receive and sell the new token on certain digital currency exchanges and digital wallet providers, as several have decided not to support it, including Coinbase, BitMEX, and Bitstamp. "We do not want to support any behavior whereby anyone can potentially split the bitcoin blockchain and effectively create free money out of nothing," said Greg Dwyer, head of business development at BitMEX. Story continues Two other large exchanges, Kraken and Bitfinex, said they will allow users to trade Bitcoin Cash and will credit them with the same amount of the new token after the fork, if it goes ahead. (Reporting by Gertrude Chavez-Dreyfuss and Anna Irrera; Editing by Bill Rigby) View comments || What Trump has done to lower the ‘RIPOFF DRUG PRICES’ he’s decrying: President Donald Trump blasted Merck CEO Kenneth C. Frazier on Monday morning after Frazierannounced he was leaving the President’s manufacturing councilfollowing Trump’s equivocal response to the neo-Nazi and white nationalist rally in Charlottesville, Virginia.
Trumptweeted: “Now that Ken Frazier of Merck Pharma has resigned from President’s Manufacturing Council, he will have more time to LOWER RIPOFF DRUG PRICES!”
But Trump’s shot at the pharma CEO about lowering drug prices is in stark contrast to what he has done himself on this front.
In March, Democratic Representatives Elijah Cummings (MD) and Peter Welch (VT)met with Trump to discuss their billthat would help lower prescription drug prices by allowing regulated drug importation and Medicare’s ability to negotiate wholesale prices for wholesale drugs, instead of retail prices.
“On the campaign trail, he said he was all for it. In the Oval Office, he said he was all for it,” Welch told Yahoo Finance. “Fast forward to today, and he has provided zero relief to Americans struggling to pay for their medicine.”
In the spring, the two Members of Congress came away from their meetings in the White House with the feeling that Trump had understood the issues as a negotiator and dealmaker.
“Listening to him talk about the ripoffs and drug prices made me convinced he takes it seriously,” Welchtold Yahoo Finance at the time.
Since then, nothing has changed, said Welch.“He is not holding up the bargain. This is unacceptable and we need to hold his feet to the fire.”
Ethan Wolff-Mannis a writer at Yahoo Finance focusing on consumer issues, tech, and personal finance. Follow him on Twitter@ewolffmann. Got a tip? Send it totips@yahoo-inc.com.
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How ringless spam voicemails became a partisan issue || Does Bitcoin Have a Mining Monopoly Problem?: During bitcoin’s early days, anyone could “mine” it using their home computer. But as the price of digital currency climbed towards $100 in 2013 (it’s now over $4,000), professional mining groups with specialized computer chips emerged. Today, these groups, or pools--nearly all based in China--have become concentrated and now dominate the production of new bitcoins. This phenomenon is not new, but an article in Quartz this week shows how pervasive it is. The article looks at a company called Bitmain, which became a powerhouse by developing ASIC chips used just for bitcoin mining: Bitmain may now be the most influential company in the bitcoin economy by virtue of the sheer amount of processing power, or hash rate, that it controls. Its mining pools, Antpool and BTC.com, account for 28.9% of all the processing power on the global bitcoin network. The piece, which describes Bitmain’s plans to move into artificial intelligence, profiles the company’s co-founder Jihan Wu, a controversial figure in the bitcoin world--in part over allegations he manipulates the crypto-currency for his own ends. This includes the recent schism that saw bitcoin’s blockchain (the record of all transactions) split in two, creating a new currency called “Bitcoin Cash.” Critics of Bitmain suspect that Wu was behind the recent, somewhat related split of bitcoin called the bitcoin-cash hard fork. That split was supported by a miner in Shenzhen named ViaBTC--which happened to be a company that Bitmain has invested in. If the allegation is true (for the record, Wu denies them), it suggests bitcoin is vulnerable to market manipulation not just by traders who hold large stores of bitcoin, but also by miners like Bitmain. Get Data Sheet , Fortune's technology newsletter. One of those who holds this view is the CTO of the cyrptocurrency consulting firm Blockstream, Samson Mow, who recently wrote an editorial for Fortune questioning the viability of Bitcoin Cash. He believes Wu is engaging in shenanigans to secretly undermine the integrity of bitcoin. Story continues “Jihan does have a lot of control for now, and much of that is simply due to mining centralization. As Bitmain is so vertically integrated, from selling ASICs, to operating mining farms, to running mining pools, he can prevent network upgrade and attempt to hijack the Bitcoin brand with things like [Bitcoin cash],” Mow said by email. Such concerns over mining monopolies, and their ability to promote “forks” in the core bitcoin software, are typically regarded as philosophical feuds within the bitcoin community. But the real world market implications may also give pause for ordinary bitcoin buyers--many of whom are likely unaware of the emergence of mining cabals that are able to sway the future of bitcoin. Mow, though, believes that whatever influence Jihan and other large miners may exert is only short-term and that the decision by bitcoin users to implement projects like SegWit (a plan to improve the efficiency of bitcoin’s blockchain) show bitcoin remains fundamentally democratic. This is part of Fortune's new initiative, The Ledger, a trusted news source at the intersection of tech and finance. For more on The Ledger, click here . See original article on Fortune.com More from Fortune.com The Latest Use for Bitcoin? Fighting Sex Trafficking Burger King Now Has Its Own Cryptocurrency--the 'Whoppercoin'--in Russia Digital Currency Ripple Soars 70% Overnight Mark Cuban Backs Cryptocurrency Fund After Saying Bitcoin Is a Bubble This Country May Launch Its Own Virtual Currency || Hacking Coinbase: The Great Bitcoin Bank Robbery: Sean Everettwasn't sure how his bullish bet on cryptocurrency would turn out. But he definitely didn't expect it to be over so soon.
In March, he sold all his stocks, including and , and used a chunk of the proceeds to buyBitcoinand Ethereum on a site calledCoinbase. The decision made Everett, the CEO of artificial intelligence startup Prome, almost instantly richer, as the blockchain-based currencies' value rocketed up exponentially over the next several weeks. But then, while he was out walking the dog after 10 p.m. on Wednesday, May 17, Everett got the call. It was T-Mobile, ringing him to confirm that it was switching his phone number to a different device.
It was a suspicious move that Everett had most certainly not requested. But even as he pleaded with the agent to block the switch, it was too late. Less than five minutes later, Everett's cell service abruptly shut off, and as he rushed to his computer, he saw himselfbeing robbedin real time. A raft of email notifications confirmed that someone had taken control of his main Gmail account, then broken into his Coinbase "wallet." They'd gotten in with the help of his switched-over phone number: Everett's account required him to log in with a two-factor authentication code sent by text message, as a second safeguard--and now the text had gone straight to the thief.
It took only two minutes for the attacker to clean Everett out of what was then a few thousand dollars' worth of digital coins. From Everett's perspective, the even more painful heist was what came next: Ethereum's price quadrupled over the next three weeks. It had reached its all-time high of $400 just hours before I met Everett in a New York coffee shop on a humid June afternoon. Bitcoin, meanwhile, had broken $3,000 for the first time a day earlier, and Everett was pining for his missing digital coins. "I'm not only still out my money, I also didn't get the rise in price," he lamented.
Then again, the biggest surprise for Everett--and, it would turn out, for many other Bitcoin enthusiasts--was that the theft happened on Coinbase at all. San Francisco's Coinbase, the world's largest exchange for trading cryptocurrency, is one of very few such companies whose own coffers have never been hacked, a distinction that carries extra weight in the realm of blockchain, where several costly breaches have made global headlines. Almost any early investor you talk to lost money in Mt. Gox, an exchange that collapsed in 2014 after hackers pillaged nearly $500 million in Bitcoin. Last summer, thieves grabbed $72 million from Hong Kong cryptoexchange Bitfinex in one fell swoop.
But hackers have never breached Coinbase's own virtual fortress, and that impenetrability has earned it a reputation as the safest place to buy Bitcoin, helping it attract more than 9 million customers who store at least $3 billion in crypto-currency there, and who have traded $25 billion to date on its retail brokerage as well as its institutional exchange, GDAX. The five-year-old Coinbase just raised $100 million in new funding, valuing the company at $1.6 billion--making it the blockchain industry's first "unicorn." "If you look at what theyare world-class at, it's security, trust, safety ... allthese things that, frankly, banks are good at," Fred Wilson, the venture capitalist and one of Coinbase's earliest and largest backers, said at a conference in March. "They're like JPMorgan or for blockchain."
But Coinbase's individual customers do get burglarized--with surprising and unsettling frequency. Even Wilson himself was in for a rude awakening: While vacationing in Europe in early June, the VC woke up to the same telltale emails that Everett saw, signaling that an intruder was trying to get inside his Coinbase account. Wilson managed to lock it down before anything was stolen, but in a rare public chastising of a company in his own portfolio, he wrote in a blog post: "I am still a bit shaken up from the experience and a fair bit more paranoid from it."
Since then,Fortunehas spoken with more than a dozen victims, including tech CEOs and well-known blockchain proponents, whose Coinbase accounts have been targeted and hacked in almost exactly the same fashion; still more have been attacked on other exchanges. The day after Everett's robbery, Los Angeles entrepreneur Adam Dachis's account was wiped out of what was then $10,000. On July 7, thieves emptied $18,000 from the Coinbase wallet of blockchain adviser Mike Costache, during the four hours he slept one night while traveling overseas. Since Christmas, there have been months when Coinbase users have been robbed as often as 30 times--a rate of one robbery every single day.
In each case, the same blindsiding realization arrives, bringing the inherent paradox of blockchain into focus. The quintessential strength that sets cryptocurrency apart from traditional money--that transactions are instant and irreversible--is also its fatal flaw. "One of [Bitcoin's] reasons for existence is that it's censorship-resistant," says Tom Robinson, cofounder and chief data officer of Elliptic, a London-based blockchain intelligence firm. That means no one, not even a government or central bank, can stop a digital currency transaction from happening. And therefore the fraud protections traditional bank depositors rely on are mostly unavailable. "Any kind of charge-back and reversibility would be the antithesis of what Bitcoin was created to achieve," says Robinson.
That's one reason that, when criminals want to pull a heist, they're increasingly choosing cryptocurrency over real dollars. In 2016, $28 million in losses from crimes involving virtual currency were reported to the FBI's Internet Crime Complaint Center, more than triple the 2015 total. And that figure is based heavily on voluntary reports by individual victims. It doesn't include large-scale thefts from exchanges like the Bitfinex hack, so it likely underestimates the true damages by many orders of magnitude.
Cybercrime is rising at traditional financial institutions too: For example, thefts through so-called account takeovers, a crime analogous to the Coinbase hacks, rose 61% last year to $2.3 billion, according to Javelin Strategy & Research. But hacking losses are a blip relative to the trillions of dollars kept in banks. Hackers are stealing a much larger proportion of the crypto-currency pie, whose total market value is only about $135 billion. In the past 12 months, for example, criminals have absconded with 1% of Ethereum's total market value, or $225 million, according to cybersecurity firm Chainalysis; the Bitcoin toll is estimated to be even higher.
Brick and mortar bank robbers have "two problems: stealing the money and hiding the evidence," explains Moran Cerf, a professor of business and neuroscience at Northwestern's School of Management and a former corporate hacker. "Bitcoin solves the second one for you because everyone there is anonymous." Bitcoin diehards seem resigned to the reality of irreversible transactions--and its drawbacks. "I think of that as a feature and not a bug," says Chris Burniske, a blockchain investor and author of forthcoming bookCryptoassets--even though his own accounts were looted in December for digital coins that would now be worth over $100,000.
But when victims watch their money up and leave into the digital wallet of a nameless stranger, it becomes more than just a problem for Coinbase: It's a threat to the promise of Bitcoin itself. As the value of cryptocurrency soars, more investors are grappling not just with how to profit from it, but how to hold on to it at all. "Coinbase looks like a bank, talks like a bank, and takes millions of dollars in cash like a bank, but, in practice, it functions like a dimly lit underground casino," says Cody Brown, whose account was hacked for $8,000 in the span of just 15 minutes in May. "You don't realize that the balanced fonts, smooth blue gradients, and endless copy about trust mean absolutely nothing--until you are robbed blind."
See also:Blockchain Mania!
Coinbase, for its part, won't discuss specific cases except to say that it investigates all account takeovers. But Brian Armstrong, Coinbase's 34-year-old CEO and founder, says Brown's and Wilson's experiences were "helpful" in teaching the company how to improve. Its security measures already match or exceed those at banks--from using machine learning to detect dubious activity, to mandating dual-factor authentication. Yet Armstrong recognizes that Coinbase is also a juicier target: "We need to be held to a higher standard," he tellsFortune,"because digital currency is so new and interesting and powerful that it is attractive to a lot of people out there to try to steal it."
If Bitcoin were a religion,its equivalent of "What would Jesus do?" would be "BYOB: Be your own bank," an unofficial slogan widely embraced in the industry. The original blockchain was launched in 2009, by the mysterious founder (or founders) going by the name Satoshi Nakamoto, as a utopian form of electronic cash that could change hands, as Nakamoto wrote in a legendary white paper, "without going through a financial institution."
But that ideal also attracted a subversive element, repelling many potential adopters. That's where Armstrong saw an opportunity to bring polish to an industry run by "hackers and crypto-anarchists" at the time, he says: "If this was going to go mainstream, it needed something that had a more trusted brand around it."
An early engineer at Airbnb, Armstrong quit in 2012 to create the "Gmail for digital currency." His strategy: making it easier and safer to store, and then buy and sell, cryptocurrency. While early Bitcoin wallet companies made people keep track of their own private keys--the secret 64-character passwords that alone provide access to one's cryptocurrency--Coinbase's pioneering innovation was its offer to store keys on customers' behalf. That also came with risk, as customers wouldn't need to know their actual key, but rather just a password, to get to their Bitcoins--and neither would a hacker. "That's a big responsibility to take on," the fresh-faced CEO admits. "But I also think it's necessary to help the industry scale and make digital currency accessible to the next 100 million or billion people."
Coinbase has demonstrated a uniqueability to bring the new asset class to the masses. Its base of customers, most of whom are in the U.S., has grown 50% just in the past five months, with as many as 50,000 signing up in one day; trade volume in July alone was twice as much as all last year. Coinbase, which makes money by charging transaction fees, is said to be nearing profitability, and Armstrong ranks No. 10 on this year'sFortune40 Under 40 list. But he is pretty clear about his company's limits. "The average person may at a high level think of us as a digital currency bank, but we're not a bank," he says. Coinbase doesn't lend money, as banks do. And critically: Coinbase, which is regulated as a money transmitter like PayPal or , isn't covered by the FDIC or bound by all the consumer protection laws that govern banks.
Armstrong has long taken 100% of his salary in Bitcoin; he now cashes out enough into dollars each month to cover his rent. Many of his employees do the same. They understand the security issues better than just about anyone, yet protecting customers is proving to be a gnarly challenge: Technically, because hackers are breaching accounts from the consumer end, exploiting weaknesses at companies like and Sprint, the hacks aren't directly Coinbase's fault. "Within the realm of reason, it's very difficult for us to prevent their account from being drained," says one executive.
Still, Coinbase can't afford to ignore the problem--literally. Even though it is not a bank, Coinbase still bears the cost of banking-system protocols, when traditional financial institutions yank back fraudulent payments induced by hackers. For example, when Dachis was robbed, a Coinbase customer support rep complained right back to him by email that "Coinbase has suffered a $1,657.41 USD loss due to bank reversals" of transactions subsequently reported as fraud. "Coinbase is left holding the bag," Soups Ranjan, the company's head of data science, said at a recent industry event. Problems like this--along with unauthorized credit card purchases of cryptocurrency--cost Coinbase a stunning 10% of all revenue it collects, a fraud-loss rate 20 times as high as PayPal's. "I firmly believe," Ranjan added, "we have the hardest payment fraud and user security problem in the world right now."
To combat that, Coinbase has been using analytics to predict which customers have the highest risk of fraud and charge-backs, and preemptively limiting their purchasing power or locking their accounts. But that method comes with a downside of its own in the form of frustrated customers--and a backlog of help-desk requests that has stretched into the tens of thousands. With about 180 employees, the company hasn't been able to hire fast enough to keep up with demand and is now looking to fill another 100 positions. Coinbase doesn't even have a phone number for customer support, though it plans to add one in September.
At the same time, Coinbase finds itself slamming headfirst into the expectations that come with being the closest thing cryptocurrency has to Goldman Sachs. The IRS has gone to court seeking Coinbase user records, after only 802 U.S. taxpayers reported Bitcoin profits on their tax returns in 2015. In June, Coinbase had its first "flash crash," withEthereum'sprice collapsing to 10? for a brief, panicky stretch; the company said that all trades "were executed properly" but eventually agreed, as a courtesy, to reimburse traders who had lost money owing to margin calls. And in early August, when a "hard fork" of the Bitcoin blockchain created another currency called Bitcoin Cash, Coinbase initially said it wouldn't support it. Hours later, a denial-of-service cyberattack--which some perceived as retaliation--knocked the exchange completely offline, and customers began threatening to sue. Coinbase gave in: Account holders will be able to withdraw their Bitcoin Cash by 2018. "We're in a period of hypergrowth, and it's superexciting and a little chaotic," Armstrong says.
For many blockchain enthusiasts, the Coinbase hacks have been a reminder of the danger of letting anyone else store your cryptocurrency. "If you don't own the private keys, you don't own the coin," says Jonathan Smith, the chief technology officer of Civic, a company that uses blockchain tech for identity verification. Then again, Bitcoin has a dirty little secret: For an asset that epitomizes the future, managing your coin yourself can feel like a journey into the troglodytic past.
Smart-money investors who store their own keys often resort to the most rudimentary of tactics to protect them. They're the Bitcoin equivalent of stuffing cash under the mattress: a private key printed out on a sheet of paper, cut into pieces, and distributed among family members who don't know how to put it back together; an encrypted file loaded on a USB stick and buried in the backyard; a password committed only to memory. These jury-rigged methods come with their own pitfalls, and stories of self-inflicted losses are legion: The New York man who reformatted a hard drive and erased the key to $25,000 in Bitcoin. Dominic Fogarty, a hedge fund research analyst who left his phone, storing his cryptocurrency, in a taxi after a bachelor party--then schlepped all over the Adirondacks to retrieve it. ("Yes, we missed our train, but more importantly I didn't lose my Bitcoins!" he tellsFortune.)The ultimate irony is that the gold standard in security, storing private keys in what's known as "cold storage," without connection to the Internet, often means putting them in the very places blockchain advocates hoped to avoid: banks. One cryptocurrency hedge fund manager once went to check on his safe-deposit box at , which stored the key to $5 million, only to find the drawer empty. (A few weeks later, the correct box was found one slot below where it was supposed to be.) Even Coinbase itself relies on banks for some of its cold storage, where 98% of customer funds are kept. "It does seem a little old-fashioned, I suppose," Armstrong acknowledges. And yet, it may also be the future, as more mainstream investors want in on cryptocurrency but without the worries of BYOB.
For some crypto devotees, this is nothing less than heresy. Says Michael Krieger, a former Lehman Brothers analyst who abandoned Wall Street for cryptocurrency after becoming disillusioned by the financial crisis, "I wouldn't trust my crypto private keys to a safety-deposit box at a bank. That's just me." But already, the walls between finance's old guard and blockchain's renegades are beginning to crumble, and a day may come where the systems meld together almost seamlessly. "It's almost ironic and funny that some of the rules and procedures we want to get rid of are almost exactly the rules we want in place to [protect] a major client," says Hu Liang, a former State Street exec who left in August to start a cryptocurrency trading platform for institutional investors. Even as they dream of supplanting the conventions that have defined banking for centuries, blockchain disciples are realizing that you can never quite escape them.
Jonathan Levin is stillcatching his breath from a six-mile bike commute as he welcomes me into his office, on the second floor of a Manhattan coworking space, early one August morning. Wearing a gray cotton T-shirt that reads "Bitcoin, est. 2009," the 27-year-old British expat exclaims cheekily, "So this is what fighting cybercrime looks like!"
Levin is the cofounder of Chainalysis, a startup that tracks virtual currency movement and investigates illicit use. Chainalysis's software assisted law enforcement with the takedowns and criminal indictments of both "dark net" marketplace AlphaBay and notorious digital currency exchange BTC-e during the span of a week in July, according to people familiar with the investigations. Previously, the company was able to locate where the stolen money from Mt. Gox and Bitfinex ended up: Bitcoin keeps an immutable record of all transactions--a literal money trail--so anyone can see the addresses of the digital wallets where funds are sent. Chainalysis's artificial intelligence "clustering" techniques mapped the funds to particular exchanges. But progress seems to have hit a dead end when it comes to determining who controls those wallets. "How many people have been caught for stealing money from major Bitcoin exchanges?" Levin asks rhetorically. "The answer is zero."
That's not entirely true, says Kathryn Haun, a former federal prosecutor who led the crackdown on virtual-currency crime and joined Coinbase's board in May. While no one yet has gone to jail for hacking into an exchange or electronically pilfering cryptocurrency, she says, the AlphaBay and BTC-e probes are the first of a wave of cases that have yet to be completed or unsealed. Because wallet addresses are pseudon-ymous, it can take years for investigators to link them to a person--gathering data gleaned from exchanges like Coinbase and more obscure corners of the Internet. "I liken it to more traditional crimes, like bank robberies," Haun says. "If he's wearing a disguise and has a wig and gloves, it makes it that much harder to capture the criminal. But that doesn't mean it's impossible."
Individual thefts may be too small on their own to merit a federal case, but as more victims report crimes to the FBI and other government agencies, there's more cause for hope. Chainalysis, for its part, opened a special investigations unit in July to take on personal cases after fielding pleas for help from hack victims. And experts believe the criminals who commit the robberies belong to sophisticated organizations with the technology and manpower to trawl social networks for mentions of cryptocurrency accounts--the kinds of resources that let them, say, call Ver-izon 28 times in 24 hours until they succeed in porting a phone number, as they did in the case of Adam Pokornicky, managing partner at hedge fund Cryptochain Capital. Efforts that ambitious inevitably leave traces, and from such clues a pattern can emerge. "Phone porting cases and schemes like it have captured the attention of law enforcement, so I would say, stay tuned," Haun says.
That said, even if the blockchain world's combined forces succeed in capturing cybercriminals, there's no guarantee that victims will get their money back. Some of the legal precedent for charging cryptocurrency hackers is still untested, and there are questions as to whether intangible assets can even be seized. For one, accessing the booty would require knowing the private key: "They could get the criminal, but the government can't force them to say where the gold is," says Jeffrey Berns, whose California law firm specializes in digital currency. In a system that prizes decentralization above all else, the creature comforts of banking may never exist. Adds Berns, "There is no consumer protection, and I'm not sure it can be built in."
Deep inside a mountainin Switzerland, down a 200-meter cave, a World War II military bunker now stores what is believed to be the largest repository of Bitcoins on the planet. In the wake of the Mt. Gox hack in 2014, Wences Casares, an Argentinean tech entrepreneur, thought there was one solution to storing digital coins: Go underground.
His company Xapo now operates heavily guarded vaults, on five continents, some as far as a kilometer down into the earth. Each contains so-called air-gapped servers on which the encrypted private keys are stored. To ensure hackers cannot rob its clients, who range from $5 account holders in emerging markets to the world's largest hedge funds and institutions, agents of Palo Alto-based Xapo personally witness the manufacturing of the servers before they even come off the assembly line and escort them to the hermetic vaults, guaranteeing they never touch the Internet. "It's somewhat ridiculous," says Casares, who also sits on the board of PayPal, "the extent to which we have to go to make sure that the keys are protected."
But even that safeguard has its limits. When customers move funds into a "hot wallet" on Xapo for transaction purposes (itself a 48-hour process), the money could be vulnerable to the same hacks that Coinbase accounts are. In other words, your cryptowealth is as safe as can be--until you want to actually use it.
Coinbase account holders lose up to $5 million annually to theft by hacking, according to a person close to the company. Here's how the hacks happen, and why the culprits are so hard to catch.
The Stakeout
A scammer scouts a target by searching for people who work in the blockchain industry--or by combing social media for mentions of Bitcoin and Coinbase. The attacker finds the target's email address and phone number through online postings or previousdata leaks.
The Switcheroo
The scammer contacts the victim's mobile provider and "ports" the phone number to a device under the scammer's control.
The Disguise
Because Gmail -accounts often link phone numbers as a backup access method, the scammer can now log in and reset the target's email password, then do the same at Coinbase.
"I'm In!"
Coinbase requires two-factor authentication ("2FA") in addition to a password. That 2FA now gets texted to the thief, who logs in.
The Getaway
The scammer moves the money into digital "wallets" under his control. Law enforcement can easily track the movements of the stolen currency recorded on the blockchain, but they can't block transactions, and figuring out who controls the wallets is difficult.
The Laundering
To try to cover his trail, the scammer can move the currency to foreign "cryptoexchanges," or convert it to other kinds of digital currency that are harder to track. Eventually, he can convert it to cash or other assets.
Building a Better Vault
For better security:
• Put a "do not port" order on your phone number.
• Don't use text-message 2FA; instead, use an app like Authenticator.
• Use a unique password, one you don't use for other accounts or social media.
This is part ofFortune'snew initiative,The Ledger,a trusted news source at the intersection of tech and finance. For more onThe Ledger,click here.
A version of this article appears in the Sept. 1, 2017 issue of Fortune with the headline “The 21st-Century Bank Robbery.”
See original article on Fortune.com
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• 5 Ways Businesses Are Already Using Blockchains || SinglePoint Inc. Announces Purchase of $Weed as Money from Joint Venture Partner First Bitcoin Capital: SEATTLE, WA--(Marketwired - Aug 8, 2017) - SinglePoint Inc. ( OTC : SING ) announces its purchase of $Weed which is one of the newest fiat currencies floated in the booming Cryptocurrency markets. The large block purchase is from crypto industry leader, First Bitcoin Capital ( OTC : BITCF ). After many months of collaboration, the two companies have decided this initiative is the starting point for a much larger play in the cryptocurrency markets. Weed "Coin" is a crypto currency geared toward solving the payment problems found in the cannabis industry. The coin recently had its ICO launch resulting in an impressive yet illiquid market cap of close to $60,000,000. Currently WeedCoin is already listed on three exchanges. SinglePoint and First Bitcoin Capital plan to list and market the coin on many more exchanges soon. Additional listings and marketing efforts could generate greater interest levels found in such competitors as PotCoin as part of a partnership to move towards a massive consumer first approach. The consumer first approach overcomes the traditional issues of making a payment at dispensaries using cryptocurrencies. A big barrier in making a payment at cannabis retail stores using cryptocurrency is the consumers do not yet have a wallet set up. This takes time and slows down this entire process. SinglePoint and First Bitcoin Capital plan to invest heavily in getting the consumers to sign up first, making sure they have the ability to quickly go in and make a purchase from a dispensary, painlessly. The consumer approach also lets the companies build in multiple programs such as loyalty, special offers, and the ability to track what kinds of products people are buying which leads to a massive database of what is popular, how much it is being sold for on average and many more insights to the cannabis industry. The companies both believe that with the proper execution, users should find a similar experience to using Starbucks' mobile payment system. An easy preload of your card, which enables you to purchase $Weed as money, instantly, then the employee at point of sale rings up your total and the consumers scan a barcode from their smart phone or tablet. Story continues If you would like to acquire $Weed as a digital coin you can participate through any of the following three exchanges: https://www.cryptopia.co.nz/Exchange/?market=WEED_BTC http://omnichest.info/lookupmarket.aspx?spa=191&spb=1 CoinQX.com - Must have a registered account to view trade data. About the Company 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 company SingleSeed the company is providing products and services to the cannabis industry. Connect on social media at: https://www.facebook.com/SinglePointMobile https://twitter.com/_SinglePoint_ https://www.linkedin.com/company-beta/165982/ For more information visit: www.SinglePoint.com About First Bitcoin Capital Corp First Bitcoin Capital Corp is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange- www.CoinQX.com . We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital crypto currencies and blockchain technologies. At this time the Company owns and operates more than the following digital assets under development: www.CoinQX.com cryptocurrency exchange, registered with FinCEN. https://www.omniwallet.org/assets/details/309 Latest Active ICO for Loyalty (FLY) www.altcoinmarketcap.com market capitalization for all cryptocurrencies with up and down voting by altcoin communities. www.Alphabitcoinfund.com world's first crypto ETF. www.strain.ID cannabis strains genetic information depository on decentralized Blockchain. www.iCoiNEWS.com real time cryptocurrency and Bitcoin news site. www.BITminer.cc providing mining pool management services. www.2016coin.org online daily election coverage and home page for $PRES, $HILL, $GARY& $BURN -commemorative presidential election coins. www.bitcannpay.com Open Loop merchant services for dispensaries. List of most Omni protocol coins issued on the Bitcoin Blockchain and owned by the Company: http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS Second Omni wallet owned by CoinQX reflecting our airline mileage tokens issued: http://omnichest.info/lookupadd.aspx?address=1VuF26AgLyQ4tBoGzYTWRqtDG9zCB7QXe Third (managed) Omni wallet owned by COINQX: http://omnichest.info/lookupadd.aspx?address=1M18oycUdsXv4pKyLLiASREcRGzPu22MxK Forward-Looking Statements Certain 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. || Tons of Coinbase users fled the platform after it rejected bitcoin cash — now the $1 billion startup is in the center of a raging storm: Brian Armstrong Coinbase (Coinbase cofounder Brian Armstrong.Anthony Harvey/Getty Images for TechCrunch) The digital currency startup Coinbase saw an exodus of users this week after announcing that it wouldn't support bitcoin cash, the new digital currency established Tuesday. Bitcoin cash is a bitcoin offshoot created as a means of dealing with disagreements in the community over how the technology behind the currency should run. But investors don't seem worried about this exodus harming Coinbase's potential unicorn status. The world of cryptocurrency is not exactly a calm place. And for Coinbase, one of the hottest and most valuable startups in the sector, this week's remarkable news around bitcoin put the company in the center of a raging storm. The big offense for Coinbase, which operates a platform for buying and selling cryptocurrencies like bitcoin, was its decision not to support bitcoin cash — the new cryptocurrency that was spun out of bitcoin this week. Many Coinbase users unleashed their wrath, accusing the company of being everything from a scam to a tool for the National Security Agency. Some threatened to sue. The $1 billion startup also lost users in droves, with 12-hour wait times over the weekend as users scrambled to transfer their bitcoins to competitors that would support bitcoin cash. The angry reaction, and the risk of a big loss of customers, raised questions about the future of what has been one of the crypto world's biggest success stories. For now, though, Coinbase's backers aren't sweating it. And they say they don't anticipate the drama having much of an effect on the startup, which has been raising money on terms that would value it at roughly $1 billion . Barry Schuler (Coinbase investor Barry Schuler.Manny Ceneta/Getty Images) "There's no one on the board or any investor who doesn't completely back the point of view that we should err on the side of safety and trust," said Barry Schuler, a partner with DFJ, an investor in Coinbase. "From an investor's point of view, we invested in Coinbase because they have made a voluntary commitment to be regulated," Schuler said, "and to focus on being trusted and safe — as safe as you can be in an experimental environment like this." Story continues Though Coinbase didn't participate in Tuesday's currency launch, Schuler said Coinbase could change its policy as early as next week, depending on how bitcoin cash matures. Another Coinbase investor, Fueled founder Rameet Chawla, even suggested that Coinbase may increase the strength of the original bitcoin down the line by establishing faith in the legacy currency. That's because Coinbase's conservative approach may make cryptocurrency more accessible to potential users who are afraid to dabble in technologically complex digital currencies. "They're a huge net positive on bitcoin, making it really easy on people who are not early adopters," Chawla said. Mass exodus of coinbase users With 9 million users and $20 billion exchanged, Coinbase has its hands on a lot of the digital currency floating around. And while investors support Coinbase's decision to sit out the initial bitcoin split, many customers felt betrayed by the company. A scan of the Coinbase community forums shows a host of angry topics such as "What if Coinbase is NSA tool to destroy BTC (bitcoin cash)?" and "Dear Coinbase, if you not release my funds in 1h I am going to sue you." Coinbase wouldn't disclose how many users withdrew bitcoins in anticipation of bitcoin cash's arrival. But things looked rough. Coinbase users experienced delays of about 12 hours on withdrawals over the weekend because of the number of people moving bitcoins. Rameet Chawla Fueled (Fueled founder Rameet Chawla doesn't seem worried about long-term harm to Coinbase.Rameet Chawla) Despite this, sources close to the situation said the company expected to see many people return to Coinbase while simultaneously storing newly acquired bitcoin cash in a different digital wallet. "Ultimately, Coinbase is an exchange for buying bitcoin, but people are free to use their own wallets and take control of their wallets anyway they want," Chawla said. The 'hard fork' The introduction Tuesday of bitcoin cash was known as the "hard fork." It resulted in a cloned currency with different technological protocols from those of the original bitcoin. The fork was a means of dealing with disagreements in the bitcoin community over how to evolve the technology to handle increased demand. The hard fork followed a process similar to cell division in biology, in that the two currencies were the same at the point of division but will pursue different paths moving forward. Users storing their bitcoin in a digital wallet that accepts bitcoin cash on Tuesday found themselves with a bitcoin cash coin for every bitcoin they had at the time of duplication. Bitcoin and bitcoin cash do not have the same value, however, so duplication is not the same as a doubling in worth. Why Coinbase sat out on bitcoin cash In a statement on Twitter on Tuesday, 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. "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." Generally speaking, Coinbase isn't quick to take on new currencies. Founded in 2012, the exchange still trades only bitcoin, ether , and litcoin — all digital currencies the team has deemed stable and technically secure enough for an amateur investor to put money into. We have made this decision because it is hard to predict how long the alternative version of bitcoin will survive and if Bitcoin Cash will have future market value. So it was of little surprise to those close to the company when it issued a statement last week advising that customers who want to access both bitcoin and bitcoin cash would need to withdrawal from Coinbase by this past Monday. "We have no plans to support the Bitcoin Cash fork." David Farmer, the director of business development at Coinbase, wrote. "We have made this decision because it is hard to predict how long the alternative version of bitcoin will survive and if Bitcoin Cash will have future market value." Users were irked because Coinbase's decision not to accept bitcoin cash meant that anyone with bitcoin stored in Coinbase's digital wallet would not receive what many saw as free bitcoin cash. Others were concerned that Coinbase would secretly keep the bitcoin cash that was generated Tuesday. In a statement last Friday, however, the company denied that this would happen. "Coinbase would not keep the bitcoin cash associated with customer bitcoin balances for ourselves," the company posted on Twitter. Investors like Schuler, however, saw the Coinbase's trepidation as part of its core business strategy. "The whole cryptocurrency-blockchain space is a bit like the Wild West right now — just like the beginning of the internet," Schuler said. "But slowly and surely, it's becoming institutionalized. Coinbase represents that — being legitimate and offering as much trust and safety as possible." NOW WATCH: This cell phone doesn't have a battery and never needs to be charged More From Business Insider Voice activated speakers, like Amazon Echo and Google Home, are pumping new life into Pandora's business Pandora topped Q2 revenue targets and its stock just had a wild rebound Amazon wants to continue testing grocery stores without human cashiers when it owns Whole Foods || History’s First Dividend To Be Paid In CryptoCurrency To Shareholders Of Publicly Traded Company; CoinQX to Support Bitcoin Cash (BCH); WEED ICO Completed, Now Listed on 3 Exchanges: VANCOUVER, BC / ACCESSWIRE / August 2, 2017 /First Bitcoin Capital Corp, the world’s most prolific issuer of digital currencies (BITCF) is pleased to announce that it intends to make history by being first to pay dividends to shareholders in the form of a cryptocurrency.
The company earned 20,000,000 TeslaCoilCoin(s) (symbol TESLA) by using its Omni protocol node to generate TeslaCoilCoin(S) for Tesla Coils, Inc. This coinage does not represent ownership in any entity and does not pay dividends or provide earnings to its owners and is merely a digital fiat crypto currency.
First Bitcoin intends to pay regular quarterly 10% digital cash dividends in crypto currencies as long as we have a surplus of this new form of money in reserves.
The company is determining the valuation of its shares and TESLACoilCoin based on the last trade at the close of business as of today, the declaration date. For example if BITCF were to close at yesterday's price of $.3695 per share and TESLA Coil Coin were to close at last Friday's price of BTC 0.00019744 BTC or US $.54, each shareholder would receive approximately .00684 TESLA Coil Coin for each 1 share of BITCF held as of the record date of ownership.
The Board has set the record date for September 12, 2017, with the payment date of September 29, 2017, to complete this historic dividend event. The company is notifying FINRA ten days in advance of the record date and anticipates that FINRA will set an x-dividend date based on the record date. Owners of our common shares that they own on the OMNI Bitcoin blockchain will be automatically credited with TESLA as both BITCF and TESLA ride on the rails of the Bitcoin blockchain and can share the same wallet addresses. In order to avoid confusion with outside exchanges, it is best to hold your BITCF when in crypto form, in your private OMNI wallet.
The company will send out a digital crypto certificate of ownership to each shareholder with instruction on how to download a wallet and convert their certificates into digital TESLA Coil Coins.
The company intends to pay additional dividends in various crypto currencies that may include crypto exchange symbols $WEED $FLY $PRES, $HILL, $GARY, $BURN, $OTX and $KLC. We may also from time to time pay dividends in our own common shares in their crypto form which trades under the crypto symbol $BITCF on various foreign cryptocurrency exchanges.
$WEED coin listed on 3 exchanges during 3rdsuccessful ICO (Initial Coin Offering).
WEED coin now trades on the OMNIDEX, COINQX and CRYPTOPIAhttps://www.cryptopia.co.nz/Exchange/?market=WEED_BTC
COINQX supports Bitcoin Cash (BCH)
It is unfortunate that many Bitcoin exchanges are not supporting Bitcoin Cash, however, clients of COINQX, our own exchange, can rely on us to deliver their Bitcoin Cash from the Bitcoin fork that occurred on August 1, 2017, with trading to commence shortly thereafter. We foresee that many of those who missed the Bitcoin run from $300 to $3000 will rush into buying BCH.
In fact, BCH ascended within first 24 hours of trading to the #3 spot on CoinMarketCap.
About the Company
First Bitcoin Capital Corp is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange- www.CoinQX.com. We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital crypto currencies and blockchain technologies. At this time the Company owns and operates more than the following digital assets under development:
www.CoinQX.comcryptocurrency exchange, registered with FinCEN.
https://www.omniwallet.org/assets/details/309Latest Active ICO for Loyalty (FLY)
www.altcoinmarketcap.commarket capitalization for all cryptocurrencies with up and down voting by altcoin communities.
www.Alphabitcoinfund.comworld's first crypto ETF.
www.strain.IDcannabis strains genetic information depository on decentralized Blockchain.
www.iCoiNEWS.comreal time cryptocurrency and Bitcoin news site.
www.BITminer.ccproviding mining pool management services.
www.2016coin.orgonline daily election coverage and home page for $PRES, $HILL, $GARY& $BURN -commemorative presidential election coins.
www.bitcannpay.comOpen Loop merchant services for dispensaries.
List of most Omni protocol coins issued on the Bitcoin Blockchain and owned by the Company:http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS
Second Omni wallet owned by CoinQX reflecting our airline mileage tokens issued:http://omnichest.info/lookupadd.aspx?address=1VuF26AgLyQ4tBoGzYTWRqtDG9zCB7QXe
Third (managed) Omni wallet owned by COINQX:http://omnichest.info/lookupadd.aspx?address=1M18oycUdsXv4pKyLLiASREcRGzPu22MxK
Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.Such forward-looking statements are risks that are detailed in the Company's filings, which are on file atwww.OTCMarkets.com.
Contact us via:info@bitcoincapitalcorp.com
or visithttp://www.bitcoincapitalcorp.com
https://twitter.com/first_bitcoinSOURCE:First Bitcoin Capital Corp. || Bitcoin Cash soars more than 100% to record high above $900: Investing.com - Bitcoin Cash prices rose sharply on Sunday, jumping to a record high above the $900-level, amid optimism that faster transactions times will speed up the spread of the cryptocurrency.
According to market participants, over half of Bitcoin Cash’s transaction volume was made on trading exchanges in South Korea, such as Bithumb and Coinone.
Bitcoin Cash was last at $774.00 by 9:35AM ET (1335GMT), up about 106.4%, or $398.96.
It touched $935.50 earlier, the highest the Bitcoin offshoot has ever traded in its less than three weeks of history and an increase of almost 400% from its low of $210 on its first day of trading.
The surge means that the total market cap of Bitcoin Cash has now reached around $13 billion, making it the third-largest digital currency after Bitcoin and Ethereum.
The rapid price rise has made it more profitable for miners to mine Bitcoin Cash as opposed to the original Bitcoin.
Prices of the original Bitcoin slumped around 6%, or $250, to $4,087.70, continuing its retreat from last week's all-time peak of $4,489.10.
It fell to a low of $3,951.30, amid growing investor concerns that the digital currency could face a second split in November.
Bitcoin’s blockchain split into two earlier this month, after members of the bitcoin community rejected the first part of the SegWit2x upgrade, creating a competing currency called ‘Bitcoin Cash’.
The most important difference between the two coins is that Bitcoin Cash allows for faster transaction times by using custom block sizing.
Bitcoin Cash has a block size with an 8-megabyte transaction limit. Bitcoin transactions on the other hand are limited to 1-megabyte every 10 minutes.
Elsewhere in cryptocurrency trading, Ethereum was down almost 3.5% to $292.53. It has the second-largest market capitalization among cryptocurrencies at nearly $28 billion.
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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Bitcoin falls below $4,000 to hit 7-day low || Goldman Sachs: This is Bitcoin's Sweet Spot: Even thoughBitcoin has been called a bubble, investors who have hungrily watched Bitcoin’s price soar 290% over the past year from the sidelines still have a chance to win big. Or at least that’s according toGoldman Sachsanalyst Sheba Jafari.
On Sunday, the banking giant sent a note seen byCNBCthat said Bitcoin, now priced at $2,568 a piece, could fall as low as $1,857 before bouncing to a much higher valuation between $3,212 to $3,915. That means if an investor watches the cryptocurrency carefully and times it perfectly, they could gain as much as 110% on their initial investment. Granted, that would take quite a bit of patience, with Goldman acknowledging that “it might take time” to hit $3,915.
Read:Can Bitcoin’s First Felon Help Make Cryptocurrency a Trillion-Dollar Market?
If Bitcoin were to hit $3,915, then that would add another $22 billion in market capitalization to cryptocurrency, which is up 53% from Bitcoin’s current market capitalization of $42 billion.
That comes as the cryptocurrency has fallen from a high of just over $3,000 in mid-June, with investors, includingMark Cuban,warning thatBitcoin’s price has already peaked.
[Random Sample of Social Media Buzz (last 60 days)]
Jul 10, 2017 20:00:00 UTC | 2,445.00$ | 2,144.20€ | 1,897.70£ | #Bitcoin #btc pic.twitter.com/E3v7S5CFW1 || Bitcoin Reserve Proposed for Australian Central Bank https://cei.org/blog/bitcoin-reserve-proposed-australian-central-bank … || One Bitcoin now worth $2559.46@bitstamp. High $2595.00. Low $2433.35. Market Cap $42.037 Billion #bitcoin pic.twitter.com/x5TtBksGXJ || Buy Bitcoin With PayPal! Also with CC, paysafecard, Skrill, OKPAY https://www.virwox.com?r=4db29virwox.com/?r=4db29 #btc #bitcoin 00 pic.twitter.com/waoapTh3D9 || $4020.79 at 16:15 UTC [24h Range: $3725.37 - $4190.00 Volume: 18916 BTC] || Bitcoin - BTC
Price: $2,716.25
Change in 1h: -0.78%
Market cap: $44,775,716,189.00
Ranking: 1
#Bitcoin #BTC || $2665.12 at 01:30 UTC [24h Range: $2631.78 - $2775.00 Volume: 12880 BTC] || Try fatguyslim at https://LocalBitcoins.com/ad/165494?ch=w7m … only £2,043.00 per BTC. (BPI +4.62%) #buy #bitcoin #banktrans || 6:00~7:00のBitcoin市場はしっかりだったようだ。
変化率は-0.2308%
8:00までは反騰?
直近の市場の平均Bitcoinの価格は287290.0円
#ビットコイン
#bitcoin
#AI || #Monacoin 42.1円↑[Zaif] 28.31円↑[もなとれ]
#NEM #XEM 27.41円↑[Zaif]
#Bitcoin 474,440円↓[Zaif]
08/18 08:00
口座開設はこちらで！ https://goo.gl/31dyoO
|
Trend: up || Prices: 4382.66, 4579.02, 4565.30, 4703.39, 4892.01, 4578.77, 4582.96, 4236.31, 4376.53, 4597.12
|
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)]
Hackers claim to have breached hundreds of millions of Apple accounts: Apples iPhones and Apple IDs are a tough nut to crack for hackers, but its not impossible. At least thats what a group of hackers seem to suggest, as theyre currently attempting to blackmail Apple for up to $100,000 before they start remotely wiping millions of iPhones. Can they actually do it? Should you be worried? Its unclear at this point. Don't Miss : Apple just added a brand new iPhone 7 model to its lineup The hackers apparently engaged in conversations with the media to force Apples hand. The Turkish Crime Family hacker group, which spoke to Motherboard , want either $75,000 in Bitcoin or Ethereum, or $100,000 worth of iTunes gift cards. I just want my money and thought this would be an interesting report that a lot of Apple customers would be interested in reading and hearing, one of the hackers said. Apparently, the hackers have been in contact with Apples security team for quite a while now. They even posted a video on YouTube to prove they have actual access to iCloud accounts, access which can be used to remotely wipe iPhones. Apple, understandably, doesnt appear to be willing to pay up the ransom. We firstly kindly request you to remove the video that you have uploaded on your YouTube channel as its seeking unwanted attention, second of all we would like you to know that we do not reward cyber criminals for breaking the law, a screenshot of a message purportedly coming from an Apple security team member reads. The hackers say they have access to more than 300 million Apple email accounts, including @icloud and @me domains. The number is the source of some confusion though, because a different hacker from the group claimed they had 559 million accounts in all. They have not explained how they gained access to Apple ID credentials. The hackers are threatening to move forward with remotely wiping Apple devices on April 7th, unless Apple pays up. Apple hasnt publicly commented on the matter at this point. On the off-chance that the hackers are indeed holding access to millions of iCloud accounts, you might consider changing your password to protect your Apple ID. Story continues Trending right now: Samsung Galaxy Tab S3 review: A perfect tablet, totally ruined $8 gives your Google Pixel the iPhone 7 feature its been missing Nintendo Switch will be back in stock at GameStop today See the original version of this article on BGR.com || Bitcoin ETFs For Dummies: Spencer Bogart is vice president of equity research for Needham & Co. He joined the firm in 2014 and currently leads the research efforts on blockchain technology and bitcoin while supporting research on cloud software (SaaS) companies. ETF.com recently sat down with Bogart, a former ETF.com analyst, to get his take on all the important developments in the bitcoin market ahead of the key SEC decision on the Winklevoss ETF, expected within the next month.
ETF.com: Before we jump into more specifics, in a nutshell, how would you describe what bitcoin is to the layperson?
Bogart:Bitcoin is peer-to-peer digital cash that's not issued by any central authority.
ETF.com: Tell us about the highly anticipated decision that's coming from the SEC. What is it ruling on and what are the odds the ruling will be positive?Spencer:There's a number of bitcoin ETFs that are going through the regulatory approval process. The one that's been going through the process the longest is the Winklevoss bitcoin ETF [Winklevoss Bitcoin Trust (COIN)]. That's been going on for about 3 1/2, four years now.
The exchange they would like to list that particular ETF on―which in this case is Bats [owner of ETF.com]―has filed a proposed rule change, which would be necessary to list the ETF. It's that proposal that essentially we've been watching go through the regulatory approval process.
At each point along the way, the SEC has had the option to approve, disapprove the ETF or to extend its time to make a decision. All along the way, it’s chosen the opportunity to extend the time to make a decision, including submitting requests for public comments.
We’ll now see an end to that process before March 11, which is the deadline. Before that, we’ll either get an approval, a disapproval or Bats will withdraw its request for a rule change. Or, if no decision is made by March 11, then the rule change is automatically approved.
ETF.com: What factors are the SEC considering?
Bogart:I don't have any inside information, but my sense is that the majority of the things that the SEC is particularly concerned about revolve around bitcoin itself as opposed to anything specific about the Winklevoss filing.
They're asking if a digital asset such as bitcoin―which, unlike a commodity doesn't have a physical form, and unlike a security or derivative, is not under any kind of regulatory supervision―is a suitable underlying asset for an ETF.
At the highest level, that's the kind of thing they're considering. A little bit more in the weeds they're asking if the specific markets that bitcoin trades on are stable, fair and efficient, and if they facilitate or enable or encourage any kind of market manipulation.
And then of course, there are the factors that are more specific to the ETF itself, which I think, in this case, probably the most important ones are what do you use as a reference price for bitcoin, and how are you going to securely store that bitcoin?
ETF.com: Does the Trump administration have any influence on the process?
Bogart:I’m hearing there are a number of bitcoin-friendly people that have taken up various posts within the administration. I'm hearing that it's, on the margin, at least a little bit positive for bitcoin.
I'm not sure if any of those people are in influential roles at the SEC. They may or may not impact the ETF decision, but overall, the probability of onerous legislation or regulation against bitcoin decreases on the margin with the administration change.
ETF.com: All that said, you say you believe the odds of approval aren't very high. Why is that?
Bogart:We've pegged the odds at less than 25%. That's because the very first thing the SEC lists in its own mission statement is protecting the investing public. When you think about the game theory aspect of this, if I work at the SEC and I approve this ETF and it goes well, nobody is probably going to come around and pat me on the back and give me a promotion. But if I approve it and a lot of money flows into it and something goes wrong, I'm likely to lose my job.
The SEC has gone very deep on this, and it’s really explored it far deeper than I expected it to. It would have been a pretty easy thing for it to just write off three years ago and forget about it. But I just don't know if it can get comfortable with the number of risks related to bitcoin itself.
ETF.com: If you're wrong and the SEC allows the launch, how much money do you see it attracting, and what will be the impact on the bitcoin price?
Bogart:Roughly speaking, we've estimated that at least $300 million would flow into this fund in the first week. An ETF would be the first time that the gates have been opened to bitcoin for institutional capital.
Most institutional money managers have mandates that require they invest in registered securities, and bitcoin itself is not a registered security. So for most institutional money managers, they can't touch bitcoin itself. The ETF would basically be the first time institutional money could really flow into bitcoin in a meaningful way.
The effect on price would be very profound. There's something on the order of $15 million to $60 million worth of bitcoin typically traded against the U.S. dollar on the world's major exchanges. If you're trying to source $300 million worth of bitcoin within a few days, there's really no way to do that—even in a normal market—without significantly disrupting the price.
Then you add into that the market where an ETF has just been approved and price is going to start rallying, liquidity's going to dry up really quickly just because nobody really wants to sell into that market. Everyone's going to want to hold their bitcoins in a time when the SEC has just approved an ETF.
At the same time, you're going to have a favorable shift in public perception away from "Bitcoin is only used for the sale of illegal goods" to "Oh, wow, the SEC has just given it a stamp of approval." And because you’d potentially have a much greater percentage of the population saving bitcoin, the propensity for the regulators to enact onerous regulation on bitcoin would at least decrease on the margin.
If you put all this together―you put this large sum of capital trying to flow into bitcoin at a time when price is already rallying, you add in the fact that there's a favorable shift in public perception, coupled with a marginal decline in regulatory risk―and the effect on price would be very significant.
ETF.com: The bitcoin price is up tremendously in the last year―about 150% in the past 12 months. How much of the run-up has to do with the ETF?
Bogart:I think very little of it has to do with the ETF. It's possible some of the recent price action has been related to the ETF. If at all, it's a small effect on the margin. It's mostly just about general growing adoption and a shifting perception.
ETF.com: If the SEC rejects the ETF, do you expect some kind of crash?
Bogart:I definitely don't expect a crash. There would be some downside to disapproval. We'll see price slump a bit, but I would guess it won't slump more than 10%.
ETF.com: If the SEC rejects the Winklevoss ETF, is there a chance it’ll revisit the issue down the line and another ETF can muster the support to come to fruition?
Spencer:Absolutely. This will be an ongoing process. The particular decision that we have coming up before March 11 is only related to the Winklevoss filing. There are two other major filings out there. Even if the SEC rejects the Winklevoss filing, eventually they will try to address whatever concerns the SEC has, and I wouldn't be surprised to see them go back and try to take another swing at this. But it's anybody's guess how long they would wait to do that.
ETF.com: Let me ask you about the underlying bitcoin fundamentals, aside from the ETF. What's the current market price and market cap of bitcoin? How much higher can it go?
Bogart:We're at about $1,000 today, which translates to a market cap of about $16 billion to $16.5 billion. How much higher can the price go? It's really anybody's guess. There's definitely a heavy percentage of total bitcoin ownership related to speculation.
I divide investors into two camps, and if you draw them on a Venn diagram, the overlap between them is probably extremely high.
For one, there are people who invest in it kind of as a commodity. These people invest in it for the same reasons they might invest in gold. They're assuming that for reasons outside of bitcoin, bitcoin will become more valuable. They believe maybe hyperinflation in a particular currency, a global financial crisis or things like that will drive up the value. Those are factors that are unrelated to bitcoin itself; they're external factors.
On the other side are people who almost look at it like a venture capital investment. They're thinking this is a payments network that is going to have a lot of value in the future, and they want to own a piece of that real estate.
Of course, there's a lot of overlap between both camps. I personally own bitcoin and I own it for both those reasons.
ETF.com: Is bitcoin like gold in the sense that it's difficult to put a price target on it? Can you say it's going to $5,000 or $10,000? Or is that just impossible to do?
Bogart:You can, but you're totally right. To some extent, you're pulling numbers out of the air. The way we look at it is, we ask, "Five years out, what percentage of the gold market might bitcoin be, and what percentage of payments volumes do we think bitcoin might account for?" And then we use a quantity theory of money to come up with what would be a fair price of bitcoin five years from now, and then use a discount rate to get that back to a present value.
We've done some of that work in the past. The last thing we published was a price target for $848. That was back when bitcoin was in the $500-600 range. We have not updated that price target since then.
Contact Sumit Roy atsroy@etf.com.
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Permalink| © Copyright 2017ETF.com.All rights reserved || Feb. ETF Inflows Push 2017's Record Start To $88B: Total ETF inflows for February were $46 billion, bringing the year-to-date total to a record-breaking $87.9 billion, a record start to any year for new assets.
U.S. equity pulled in more than any other asset class, at $20.4 billion. U.S. fixed income and international equity were neck-and-neck, with inflows of $10.2 billion and $10.5 billion, respectively. Only currency saw outflows, losing $59.8 million.
The top gainer for the month out of the entire field of U.S.-listed ETFs was theiShares Core MSCI Emerging Markets ETF (IEMG), which pulled in $2.5 billion. TheiShares iBoxx $ Investment Grade Corporate Bond ETF (LQD)was in second place, pulling in just $20 million less than IEMG during the month.
A Story Of CostsIEMG’s inflows capture a rather fascinating development in the ETF space—the inexorable tide of low-cost victories. With an expense ratio of 0.14%, the fund is basically a broader, lower-cost version of its older brother, theiShares MSCI Emerging Markets ETF (EEM), which comes with an expense ratio of 0.72%.
While IEMG was among the top gainers in February, the more expensive EEM actually saw zero inflows for the month and is down $33 million for the year. IEMG also holds the top spot for year-to-date inflows, pulling in a total of $4.2 billion in the first two months of the year, almost 22% of its total assets under management. LQD is again in second place, with $3.7 billion in inflows year-to-date.
The No. 3 spot for February inflows was claimed by theSPDR Gold Trust (GLD), which pulled in some $1.7 billion, a notable reversal from its outflows of $866 million in January. Commodities as a whole pulled in $2 billion during the month, after more than $600 million in outflows in January, boosted no doubt in part by the upswing in the yellow metal.
OutflowsThe ETFs with the biggest outflows included theiShares Russell 2000 ETF (IWM), which saw its assets fall by $1.6 billion during the month, or more than 4% of its assets under management. TheSPDR S&P 500 ETF (SPY)was the second-biggest loser, with outflows of $986.2 million, a reduction in AUM of just 0.42%.
However, theSPDR Dow Jones Industrial Average ETF (DIA)was hot on its heels, with outflows of $981.1 million, or nearly 6% of its AUM. SPY and IWM were also the two biggest losers year-to-date, with outflows of $2.6 billion and $2.3 billion, respectively.
Top Gainers (February 2017)
[{"Ticker": "IEMG", "Name": "iShares Core MSCI Emerging Markets ETF", "Issuer": "BlackRock", "Net Flows ($,mm)": "2,485.09", "AUM ($M)": "23,824.90", "% of AUM": "11.65%", "YTD 2017 Net Flows($,M)": "4,226.25"}, {"Ticker": "LQD", "Name": "iShares iBoxx $ Investment Grade Corporate Bond ETF", "Issuer": "BlackRock", "Net Flows ($,mm)": "2,465.40", "AUM ($M)": "31,078.62", "% of AUM": "8.62%", "YTD 2017 Net Flows($,M)": "3,706.91"}, {"Ticker": "GLD", "Name": "SPDR Gold Trust", "Issuer": "State Street Global Advisors", "Net Flows ($,mm)": "1,664.66", "AUM ($M)": "33,990.50", "% of AUM": "5.15%", "YTD 2017 Net Flows($,M)": "798.19"}, {"Ticker": "XLV", "Name": "Health Care Select Sector SPDR Fund", "Issuer": "State Street Global Advisors", "Net Flows ($,mm)": "1,438.89", "AUM ($M)": "16,038.75", "% of AUM": "9.86%", "YTD 2017 Net Flows($,M)": "1,266.81"}, {"Ticker": "IJH", "Name": "iShares Core S&P Mid-Cap ETF", "Issuer": "BlackRock", "Net Flows ($,mm)": "1,385.37", "AUM ($M)": "39,375.52", "% of AUM": "3.65%", "YTD 2017 Net Flows($,M)": "2,719.32"}, {"Ticker": "IVV", "Name": "iShares Core S&P 500 ETF", "Issuer": "BlackRock", "Net Flows ($,mm)": "1,303.89", "AUM ($M)": "98,093.81", "% of AUM": "1.35%", "YTD 2017 Net Flows($,M)": "1,836.45"}, {"Ticker": "VEA", "Name": "Vanguard FTSE Developed Markets ETF", "Issuer": "Vanguard", "Net Flows ($,mm)": "1,279.82", "AUM ($M)": "44,338.13", "% of AUM": "2.97%", "YTD 2017 Net Flows($,M)": "2,191.94"}, {"Ticker": "XLF", "Name": "Financial Select Sector SPDR Fund", "Issuer": "State Street Global Advisors", "Net Flows ($,mm)": "1,252.81", "AUM ($M)": "25,097.97", "% of AUM": "5.25%", "YTD 2017 Net Flows($,M)": "1,356.12"}, {"Ticker": "VCSH", "Name": "Vanguard Short-Term Corporate Bond Index Fund", "Issuer": "Vanguard", "Net Flows ($,mm)": "1,076.98", "AUM ($M)": "17,426.28", "% of AUM": "6.18%", "YTD 2017 Net Flows($,M)": "1,505.68"}, {"Ticker": "VOO", "Name": "Vanguard S&P 500 Index Fund", "Issuer": "Vanguard", "Net Flows ($,mm)": "1,046.41", "AUM ($M)": "63,313.08", "% of AUM": "1.65%", "YTD 2017 Net Flows($,M)": "3204.42"}]
Top Gainers (Year-to-Date)
[{"Ticker": "IEMG", "Name": "iShares Core MSCI Emerging Markets ETF", "Issuer": "BlackRock", "Net Flows ($,mm)": "4,226.25", "AUM ($M)": "23,824.90", "% of AUM": "21.56%", "February 2017 Net Flows($,M)": "2,485.09"}, {"Ticker": "LQD", "Name": "iShares iBoxx $ Investment Grade Corporate Bond ETF", "Issuer": "BlackRock", "Net Flows ($,mm)": "3,706.91", "AUM ($M)": "31,078.62", "% of AUM": "13.54%", "February 2017 Net Flows($,M)": "2,465.40"}, {"Ticker": "VOO", "Name": "Vanguard S&P 500 Index Fund", "Issuer": "Vanguard", "Net Flows ($,mm)": "3,204.42", "AUM ($M)": "63,313.08", "% of AUM": "5.06%", "February 2017 Net Flows($,M)": "1,078.92"}, {"Ticker": "IJR", "Name": "iShares Core S&P Small Cap ETF", "Issuer": "BlackRock", "Net Flows ($,mm)": "2,959.25", "AUM ($M)": "30,138.29", "% of AUM": "10.89%", "February 2017 Net Flows($,M)": "995.93"}, {"Ticker": "IJH", "Name": "iShares Core S&P Mid-Cap ETF", "Issuer": "BlackRock", "Net Flows ($,mm)": "2,719.32", "AUM ($M)": "39,375.52", "% of AUM": "7.42%", "February 2017 Net Flows($,M)": "1,385.37"}, {"Ticker": "VEA", "Name": "Vanguard FTSE Developed Markets ETF", "Issuer": "Vanguard", "Net Flows ($,mm)": "2,191.94", "AUM ($M)": "44,338.13", "% of AUM": "5.20%", "February 2017 Net Flows($,M)": "1,279.82"}, {"Ticker": "BSV", "Name": "Vanguard Short-Term Bond Index Fund", "Issuer": "Vanguard", "Net Flows ($,mm)": "2,164.93", "AUM ($M)": "21,815.36", "% of AUM": "11.02%", "February 2017 Net Flows($,M)": "700.83"}, {"Ticker": "IEFA", "Name": "iShares Core MSCI EAFE ETF", "Issuer": "BlackRock", "Net Flows ($,mm)": "2,136.43", "AUM ($M)": "18,639.54", "% of AUM": "12.95%", "February 2017 Net Flows($,M)": "387.53"}, {"Ticker": "VCIT", "Name": "Vanguard Intermediate-Term Corporate Bond Index Fund", "Issuer": "Vanguard", "Net Flows ($,mm)": "2,127.69", "AUM ($M)": "12,576.56", "% of AUM": "20.36%", "February 2017 Net Flows($,M)": "524.11"}, {"Ticker": "VTI", "Name": "Vanguard Total Stock Market Index Fund", "Issuer": "Vanguard", "Net Flows ($,mm)": "2,054.91", "AUM ($M)": "75,952.49", "% of AUM": "2.80%", "February 2017 Net Flows($,M)": "1,058.11"}]
Biggest Losers (February 2017)
[{"Ticker": "IWM", "Name": "iShares Russell 2000 ETF", "Issuer": "BlackRock", "Net Flows ($,mm)": "-1,585.66", "AUM ($M)": "37,422.69", "% of AUM": "-4.06%", "YTD 2017 Net Flows($,M)": "-2,325.13"}, {"Ticker": "SPY", "Name": "SPDR S&P 500 ETF Trust", "Issuer": "State Street Global Advisors", "Net Flows ($,mm)": "-986.21", "AUM ($M)": "235,826.66", "% of AUM": "-0.42%", "YTD 2017 Net Flows($,M)": "-2,619.20"}, {"Ticker": "DIA", "Name": "SPDR Dow Jones Industrial Average ETF Trust", "Issuer": "State Street Global Advisors", "Net Flows ($,mm)": "-981.15", "AUM ($M)": "16,281.10", "% of AUM": "-5.68%", "YTD 2017 Net Flows($,M)": "673.31"}, {"Ticker": "SPHD", "Name": "PowerShares S&P 500 High Dividend Low Volatility Portfolio", "Issuer": "Invesco PowerShares", "Net Flows ($,mm)": "-557.35", "AUM ($M)": "3,088.85", "% of AUM": "-15.29%", "YTD 2017 Net Flows($,M)": "165.39"}, {"Ticker": "HYG", "Name": "iShares iBoxx $ High Yield Corporate Bond ETF", "Issuer": "BlackRock", "Net Flows ($,mm)": "-399.83", "AUM ($M)": "18,573.36", "% of AUM": "-2.11%", "YTD 2017 Net Flows($,M)": "-688.22"}, {"Ticker": "EWJ", "Name": "iShares MSCI Japan ETF", "Issuer": "BlackRock", "Net Flows ($,mm)": "-346.94", "AUM ($M)": "16,292.41", "% of AUM": "-2.09%", "YTD 2017 Net Flows($,M)": "358.70"}, {"Ticker": "ACWV", "Name": "iShares Edge MSCI Min Vol Global ETF", "Issuer": "BlackRock", "Net Flows ($,mm)": "-309.61", "AUM ($M)": "2,954.38", "% of AUM": "-9.49%", "YTD 2017 Net Flows($,M)": "-338.99"}, {"Ticker": "USMV", "Name": "iShares Edge MSCI Min Vol USA ETF", "Issuer": "BlackRock", "Net Flows ($,mm)": "-284.32", "AUM ($M)": "12,365.36", "% of AUM": "-2.25%", "YTD 2017 Net Flows($,M)": "-702.94"}, {"Ticker": "MUB", "Name": "iShares National Muni Bond ETF", "Issuer": "BlackRock", "Net Flows ($,mm)": "-238.66", "AUM ($M)": "7,893.11", "% of AUM": "-2.93%", "YTD 2017 Net Flows($,M)": "-327.02"}, {"Ticker": "EWW", "Name": "iShares MSCI Mexico Capped ETF", "Issuer": "BlackRock", "Net Flows ($,mm)": "-236.60", "AUM ($M)": "1,667.35", "% of AUM": "-14.19%", "YTD 2017 Net Flows($,M)": "-240.35"}]
Biggest Losers (Year-to-Date)
[{"Ticker": "SPY", "Name": "SPDR S&P 500 ETF Trust", "Issuer": "State Street Global Advisors", "Net Flows ($,mm)": "-2,619.20", "AUM ($M)": "235,826.66", "% of AUM": "-1.10%", "February 2017 Net Flows($,M)": "-986.21"}, {"Ticker": "IWM", "Name": "iShares Russell 2000 ETF", "Issuer": "BlackRock", "Net Flows ($,mm)": "-2,325.13", "AUM ($M)": "37,422.69", "% of AUM": "-5.85%", "February 2017 Net Flows($,M)": "-1,585.66"}, {"Ticker": "IWF", "Name": "iShares Russell 1000 Growth ETF", "Issuer": "BlackRock", "Net Flows ($,mm)": "-1,244.82", "AUM ($M)": "33,669.24", "% of AUM": "-3.57%", "February 2017 Net Flows($,M)": "229.67"}, {"Ticker": "USMV", "Name": "iShares Edge MSCI Min Vol USA ETF", "Issuer": "BlackRock", "Net Flows ($,mm)": "-702.94", "AUM ($M)": "12,365.36", "% of AUM": "-5.38%", "February 2017 Net Flows($,M)": "-284.32"}, {"Ticker": "HYG", "Name": "iShares iBoxx $ High Yield Corporate Bond ETF", "Issuer": "BlackRock", "Net Flows ($,mm)": "-688.22", "AUM ($M)": "18,573.36", "% of AUM": "-3.57%", "February 2017 Net Flows($,M)": "-399.83"}, {"Ticker": "SCPB", "Name": "SPDR Bloomberg Barclays Short Term Corporate Bond ETF", "Issuer": "State Street Global Advisors", "Net Flows ($,mm)": "-559.13", "AUM ($M)": "2,966.49", "% of AUM": "-15.86%", "February 2017 Net Flows($,M)": "-88.64"}, {"Ticker": "HEDJ", "Name": "WisdomTree Europe Hedged Equity Fund", "Issuer": "WisdomTree", "Net Flows ($,mm)": "-518.06", "AUM ($M)": "9,030.54", "% of AUM": "-5.43%", "February 2017 Net Flows($,M)": "-191.09"}, {"Ticker": "IEF", "Name": "iShares 7-10 Year Treasury Bond ETF", "Issuer": "BlackRock", "Net Flows ($,mm)": "-504.70", "AUM ($M)": "7,099.91", "% of AUM": "-7.11%", "February 2017 Net Flows($,M)": "-293.71"}, {"Ticker": "QQQ", "Name": "PowerShares QQQ Trust", "Issuer": "PowerShares", "Net Flows ($,mm)": "-481.54", "AUM ($M)": "45,443.80", "% of AUM": "-1.06%", "February 2017 Net Flows($,M)": "967.66"}, {"Ticker": "XLU", "Name": "Utilities Sector SPDR Fund", "Issuer": "SSGA", "Net Flows ($,mm)": "-396.38", "AUM ($M)": "6,943.23", "% of AUM": "-5.71%", "February 2017 Net Flows($,M)": "324.44"}]
Asset Classes (February 2017)
[{"": "U.S. Equity", "Net Flows ($, mm)": "20,371.81", "AUM ($, mm)": "1,601,910.98", "% of AUM": "1.27%"}, {"": "International Equity", "Net Flows ($, mm)": "10,581.49", "AUM ($, mm)": "562,765.18", "% of AUM": "1.83%"}, {"": "U.S. Fixed Income", "Net Flows ($, mm)": "10,211.31", "AUM ($, mm)": "437,402.33", "% of AUM": "2.38%"}, {"": "International Fixed Income", "Net Flows ($, mm)": "1,880.84", "AUM ($, mm)": "43,560.34", "% of AUM": "4.20%"}, {"": "Commodities", "Net Flows ($, mm)": "1,991.80", "AUM ($, mm)": "65,610.03", "% of AUM": "3.04%"}, {"": "Currency", "Net Flows ($, mm)": "-59.82", "AUM ($, mm)": "3,052.32", "% of AUM": "-1.96%"}, {"": "Leveraged", "Net Flows ($, mm)": "116.42", "AUM ($, mm)": "25,933.54", "% of AUM": "0.49%"}, {"": "Inverse", "Net Flows ($, mm)": "641.13", "AUM ($, mm)": "17,008.62", "% of AUM": "3.73%"}, {"": "Asset Allocation", "Net Flows ($, mm)": "64.72", "AUM ($, mm)": "6,681.04", "% of AUM": "0.90%"}, {"": "Alternatives", "Net Flows ($, mm)": "200.43", "AUM ($, mm)": "4,090.25", "% of AUM": "4.86%"}, {"": "Total:", "Net Flows ($, mm)": "46,000.02", "AUM ($, mm)": "2,768,014.63", "% of AUM": "1.62%"}]
Asset Classes (Year-to-Date)
[{"": "U.S. Equity", "Net Flows ($, mm)": "36,498.38", "AUM ($, mm)": "1,601,910.98", "% of AUM": "2.28%"}, {"": "International Equity", "Net Flows ($, mm)": "23,089.67", "AUM ($, mm)": "562,765.18", "% of AUM": "4.30%"}, {"": "U.S. Fixed Income", "Net Flows ($, mm)": "23,422.48", "AUM ($, mm)": "437,402.33", "% of AUM": "5.35%"}, {"": "International Fixed Income", "Net Flows ($, mm)": "2,796.38", "AUM ($, mm)": "43,560.34", "% of AUM": "6.31%"}, {"": "Commodities", "Net Flows ($, mm)": "1,322.83", "AUM ($, mm)": "65,610.03", "% of AUM": "1.80%"}, {"": "Currency", "Net Flows ($, mm)": "-25.10", "AUM ($, mm)": "3,052.32", "% of AUM": "-3.34%"}, {"": "Leveraged", "Net Flows ($, mm)": "-29.83", "AUM ($, mm)": "25,933.54", "% of AUM": "-0.12%"}, {"": "Inverse", "Net Flows ($, mm)": "847.96", "AUM ($, mm)": "17,008.62", "% of AUM": "4.99%"}, {"": "Asset Allocation", "Net Flows ($, mm)": "-346.80", "AUM ($, mm)": "6,681.04", "% of AUM": "-5.19%"}, {"": "Alternatives", "Net Flows ($, mm)": "453.19", "AUM ($, mm)": "4,090.25", "% of AUM": "11.08%"}, {"": "Total:", "Net Flows ($, mm)": "87,910.92", "AUM ($, mm)": "2,768,014.63", "% of AUM": "3.18%"}]
February 2017 League Table
[{"Issuer": "BlackRock", "Net Flows ($,M)": "15,618.06", "AUM ($,M)": "1,059,680.52", "% of AUM": "1.47%", "YTD 2017 Net Flows($,M)": "30,356.60"}, {"Issuer": "Vanguard", "Net Flows ($,M)": "12,589.60", "AUM ($,M)": "669,923.53", "% of AUM": "1.88%", "YTD 2017 Net Flows($,M)": "27,186.12"}, {"Issuer": "State Street Global Advisors", "Net Flows ($,M)": "6,977.44", "AUM ($,M)": "537,381.47", "% of AUM": "1.30%", "YTD 2017 Net Flows($,M)": "8,309.33"}, {"Issuer": "Invesco PowerShares", "Net Flows ($,M)": "656.29", "AUM ($,M)": "120,079.65", "% of AUM": "0.55%", "YTD 2017 Net Flows($,M)": "2,043.32"}, {"Issuer": "Charles Schwab", "Net Flows ($,M)": "2,249.63", "AUM ($,M)": "67,119.66", "% of AUM": "3.35%", "YTD 2017 Net Flows($,M)": "4,405.53"}, {"Issuer": "First Trust", "Net Flows ($,M)": "687.12", "AUM ($,M)": "44,800.01", "% of AUM": "1.53%", "YTD 2017 Net Flows($,M)": "1,478.78"}, {"Issuer": "WisdomTree", "Net Flows ($,M)": "174.60", "AUM ($,M)": "41,915.35", "% of AUM": "0.42%", "YTD 2017 Net Flows($,M)": "404.40"}, {"Issuer": "VanEck", "Net Flows ($,M)": "1,511.88", "AUM ($,M)": "34,758.08", "% of AUM": "4.35%", "YTD 2017 Net Flows($,M)": "2,889.57"}, {"Issuer": "Guggenheim", "Net Flows ($,M)": "363.49", "AUM ($,M)": "34,304.06", "% of AUM": "1.06%", "YTD 2017 Net Flows($,M)": "1,339.46"}, {"Issuer": "ProShares", "Net Flows ($,M)": "377.18", "AUM ($,M)": "26,888.91", "% of AUM": "1.40%", "YTD 2017 Net Flows($,M)": "789.83"}, {"Issuer": "ALPS", "Net Flows ($,M)": "571.39", "AUM ($,M)": "14,389.27", "% of AUM": "3.97%", "YTD 2017 Net Flows($,M)": "1,009.97"}, {"Issuer": "Deutsche Bank", "Net Flows ($,M)": "-14.83", "AUM ($,M)": "14,160.27", "% of AUM": "-0.10%", "YTD 2017 Net Flows($,M)": "162.25"}, {"Issuer": "Northern Trust", "Net Flows ($,M)": "516.48", "AUM ($,M)": "13,077.98", "% of AUM": "3.95%", "YTD 2017 Net Flows($,M)": "873.73"}, {"Issuer": "PIMCO", "Net Flows ($,M)": "260.78", "AUM ($,M)": "12,878.40", "% of AUM": "2.02%", "YTD 2017 Net Flows($,M)": "160.65"}, {"Issuer": "Direxion", "Net Flows ($,M)": "179.48", "AUM ($,M)": "11,186.53", "% of AUM": "1.60%", "YTD 2017 Net Flows($,M)": "-128.99"}, {"Issuer": "Barclays Capital", "Net Flows ($,M)": "243.49", "AUM ($,M)": "7,134.14", "% of AUM": "3.41%", "YTD 2017 Net Flows($,M)": "529.31"}, {"Issuer": "UBS", "Net Flows ($,M)": "-17.21", "AUM ($,M)": "6,977.94", "% of AUM": "-0.25%", "YTD 2017 Net Flows($,M)": "-16.76"}, {"Issuer": "Fidelity", "Net Flows ($,M)": "356.05", "AUM ($,M)": "5,984.57", "% of AUM": "5.95%", "YTD 2017 Net Flows($,M)": "503.64"}, {"Issuer": "JPMorgan", "Net Flows ($,M)": "80.54", "AUM ($,M)": "5,214.85", "% of AUM": "1.54%", "YTD 2017 Net Flows($,M)": "159.07"}, {"Issuer": "Global X", "Net Flows ($,M)": "244.20", "AUM ($,M)": "4,521.77", "% of AUM": "5.40%", "YTD 2017 Net Flows($,M)": "537.66"}, {"Issuer": "US Commodity Funds", "Net Flows ($,M)": "45.82", "AUM ($,M)": "4,251.90", "% of AUM": "1.08%", "YTD 2017 Net Flows($,M)": "-134.01"}, {"Issuer": "Credit Suisse", "Net Flows ($,M)": "346.62", "AUM ($,M)": "3,497.50", "% of AUM": "9.91%", "YTD 2017 Net Flows($,M)": "507.68"}, {"Issuer": "Goldman Sachs", "Net Flows ($,M)": "24.76", "AUM ($,M)": "3,181.04", "% of AUM": "0.78%", "YTD 2017 Net Flows($,M)": "155.71"}, {"Issuer": "Exchange Traded Concepts", "Net Flows ($,M)": "73.12", "AUM ($,M)": "2,488.80", "% of AUM": "2.94%", "YTD 2017 Net Flows($,M)": "159.75"}, {"Issuer": "ETF Securities", "Net Flows ($,M)": "47.65", "AUM ($,M)": "2,468.74", "% of AUM": "1.93%", "YTD 2017 Net Flows($,M)": "66.31"}, {"Issuer": "IndexIQ", "Net Flows ($,M)": "-2.98", "AUM ($,M)": "2,255.02", "% of AUM": "-0.13%", "YTD 2017 Net Flows($,M)": "-42.01"}, {"Issuer": "OppenheimerFunds", "Net Flows ($,M)": "167.31", "AUM ($,M)": "1,979.78", "% of AUM": "8.45%", "YTD 2017 Net Flows($,M)": "316.60"}, {"Issuer": "ETF Managers Group", "Net Flows ($,M)": "101.46", "AUM ($,M)": "1,172.38", "% of AUM": "8.65%", "YTD 2017 Net Flows($,M)": "114.60"}, {"Issuer": "Victory Capital Management", "Net Flows ($,M)": "81.29", "AUM ($,M)": "1,131.86", "% of AUM": "7.18%", "YTD 2017 Net Flows($,M)": "181.87"}, {"Issuer": "AdvisorShares", "Net Flows ($,M)": "16.60", "AUM ($,M)": "1,098.32", "% of AUM": "1.51%", "YTD 2017 Net Flows($,M)": "10.49"}, {"Issuer": "Millington Securities Inc", "Net Flows ($,M)": "-22.93", "AUM ($,M)": "1,040.81", "% of AUM": "-2.20%", "YTD 2017 Net Flows($,M)": "-26.53"}, {"Issuer": "Columbia", "Net Flows ($,M)": "-9.30", "AUM ($,M)": "1,000.29", "% of AUM": "-0.93%", "YTD 2017 Net Flows($,M)": "-9.83"}, {"Issuer": "Pacer Financial", "Net Flows ($,M)": "18.51", "AUM ($,M)": "828.38", "% of AUM": "2.23%", "YTD 2017 Net Flows($,M)": "47.83"}, {"Issuer": "Virtus", "Net Flows ($,M)": "19.88", "AUM ($,M)": "787.28", "% of AUM": "2.52%", "YTD 2017 Net Flows($,M)": "143.06"}, {"Issuer": "John Hancock", "Net Flows ($,M)": "34.71", "AUM ($,M)": "742.61", "% of AUM": "4.67%", "YTD 2017 Net Flows($,M)": "45.23"}, {"Issuer": "CitiGroup", "Net Flows ($,M)": "62.09", "AUM ($,M)": "626.95", "% of AUM": "9.90%", "YTD 2017 Net Flows($,M)": "154.55"}, {"Issuer": "Franklin ETF Trust", "Net Flows ($,M)": "44.99", "AUM ($,M)": "605.92", "% of AUM": "7.43%", "YTD 2017 Net Flows($,M)": "50.41"}, {"Issuer": "The Principal Financial Group", "Net Flows ($,M)": "0.00", "AUM ($,M)": "565.63", "% of AUM": "0.00%", "YTD 2017 Net Flows($,M)": "2.04"}, {"Issuer": "Highland Capital Management", "Net Flows ($,M)": "-9.43", "AUM ($,M)": "485.43", "% of AUM": "-1.94%", "YTD 2017 Net Flows($,M)": "7.49"}, {"Issuer": "FQF Trust", "Net Flows ($,M)": "-8.02", "AUM ($,M)": "450.38", "% of AUM": "-1.78%", "YTD 2017 Net Flows($,M)": "-4.42"}, {"Issuer": "Swedish Export Credit", "Net Flows ($,M)": "2.01", "AUM ($,M)": "395.25", "% of AUM": "0.51%", "YTD 2017 Net Flows($,M)": "0.42"}, {"Issuer": "Cambria", "Net Flows ($,M)": "24.47", "AUM ($,M)": "383.36", "% of AUM": "6.38%", "YTD 2017 Net Flows($,M)": "35.92"}, {"Issuer": "KraneShares", "Net Flows ($,M)": "9.98", "AUM ($,M)": "289.38", "% of AUM": "3.45%", "YTD 2017 Net Flows($,M)": "10.49"}, {"Issuer": "Janus", "Net Flows ($,M)": "6.59", "AUM ($,M)": "181.35", "% of AUM": "3.63%", "YTD 2017 Net Flows($,M)": "36.08"}, {"Issuer": "Northern Lights", "Net Flows ($,M)": "18.91", "AUM ($,M)": "179.58", "% of AUM": "10.53%", "YTD 2017 Net Flows($,M)": "18.91"}, {"Issuer": "Alpha Architect", "Net Flows ($,M)": "1.26", "AUM ($,M)": "168.73", "% of AUM": "0.75%", "YTD 2017 Net Flows($,M)": "25.93"}, {"Issuer": "Elkhorn", "Net Flows ($,M)": "1.52", "AUM ($,M)": "165.71", "% of AUM": "0.92%", "YTD 2017 Net Flows($,M)": "27.41"}, {"Issuer": "Teucrium", "Net Flows ($,M)": "0.82", "AUM ($,M)": "159.51", "% of AUM": "0.51%", "YTD 2017 Net Flows($,M)": "0.21"}, {"Issuer": "Legg Mason", "Net Flows ($,M)": "-2.81", "AUM ($,M)": "148.25", "% of AUM": "-1.90%", "YTD 2017 Net Flows($,M)": "6.94"}, {"Issuer": "Merk", "Net Flows ($,M)": "2.44", "AUM ($,M)": "130.42", "% of AUM": "1.87%", "YTD 2017 Net Flows($,M)": "7.18"}, {"Issuer": "Hartford", "Net Flows ($,M)": "1.70", "AUM ($,M)": "116.62", "% of AUM": "1.46%", "YTD 2017 Net Flows($,M)": "6.47"}, {"Issuer": "Arrow Investment Advisors", "Net Flows ($,M)": "-1.19", "AUM ($,M)": "112.61", "% of AUM": "-1.06%", "YTD 2017 Net Flows($,M)": "-1.19"}, {"Issuer": "Morgan Stanley", "Net Flows ($,M)": "0.00", "AUM ($,M)": "97.25", "% of AUM": "0.00%", "YTD 2017 Net Flows($,M)": "0.00"}, {"Issuer": "Nuveen", "Net Flows ($,M)": "0.00", "AUM ($,M)": "93.30", "% of AUM": "0.00%", "YTD 2017 Net Flows($,M)": "3.79"}, {"Issuer": "ARK", "Net Flows ($,M)": "5.90", "AUM ($,M)": "86.52", "% of AUM": "6.82%", "YTD 2017 Net Flows($,M)": "12.88"}, {"Issuer": "Recon Capital", "Net Flows ($,M)": "2.00", "AUM ($,M)": "86.51", "% of AUM": "2.31%", "YTD 2017 Net Flows($,M)": "5.42"}, {"Issuer": "Montage Managers", "Net Flows ($,M)": "6.09", "AUM ($,M)": "68.95", "% of AUM": "8.84%", "YTD 2017 Net Flows($,M)": "10.92"}, {"Issuer": "US Global Investors", "Net Flows ($,M)": "-1.39", "AUM ($,M)": "65.63", "% of AUM": "-2.11%", "YTD 2017 Net Flows($,M)": "-2.80"}, {"Issuer": "Davis", "Net Flows ($,M)": "14.34", "AUM ($,M)": "61.17", "% of AUM": "23.44%", "YTD 2017 Net Flows($,M)": "14.34"}, {"Issuer": "Reality Shares", "Net Flows ($,M)": "0.65", "AUM ($,M)": "57.19", "% of AUM": "1.13%", "YTD 2017 Net Flows($,M)": "8.30"}, {"Issuer": "Academy Funds", "Net Flows ($,M)": "0.00", "AUM ($,M)": "37.89", "% of AUM": "0.00%", "YTD 2017 Net Flows($,M)": "0.00"}, {"Issuer": "Aptus Capital Advisors", "Net Flows ($,M)": "1.35", "AUM ($,M)": "29.80", "% of AUM": "4.52%", "YTD 2017 Net Flows($,M)": "2.67"}, {"Issuer": "AlphaMark Advisors", "Net Flows ($,M)": "0.00", "AUM ($,M)": "26.39", "% of AUM": "0.00%", "YTD 2017 Net Flows($,M)": "0.00"}, {"Issuer": "Validea Capital Management", "Net Flows ($,M)": "0.00", "AUM ($,M)": "22.90", "% of AUM": "0.00%", "YTD 2017 Net Flows($,M)": "0.00"}, {"Issuer": "OSI ETF Trust", "Net Flows ($,M)": "11.33", "AUM ($,M)": "22.02", "% of AUM": "51.45%", "YTD 2017 Net Flows($,M)": "18.92"}, {"Issuer": "Diamond Hill", "Net Flows ($,M)": "1.33", "AUM ($,M)": "19.30", "% of AUM": "6.90%", "YTD 2017 Net Flows($,M)": "1.33"}, {"Issuer": "ACSI Funds", "Net Flows ($,M)": "2.76", "AUM ($,M)": "16.88", "% of AUM": "16.35%", "YTD 2017 Net Flows($,M)": "4.12"}, {"Issuer": "Amplify", "Net Flows ($,M)": "2.73", "AUM ($,M)": "16.77", "% of AUM": "16.30%", "YTD 2017 Net Flows($,M)": "5.38"}, {"Issuer": "Renaissance Capital", "Net Flows ($,M)": "0.00", "AUM ($,M)": "15.60", "% of AUM": "0.00%", "YTD 2017 Net Flows($,M)": "0.00"}, {"Issuer": "Natixis", "Net Flows ($,M)": "0.00", "AUM ($,M)": "14.05", "% of AUM": "0.00%", "YTD 2017 Net Flows($,M)": "0.00"}, {"Issuer": "TrimTabs Asset Management", "Net Flows ($,M)": "0.70", "AUM ($,M)": "11.36", "% of AUM": "6.19%", "YTD 2017 Net Flows($,M)": "4.79"}, {"Issuer": "Strategy Shares", "Net Flows ($,M)": "0.00", "AUM ($,M)": "10.91", "% of AUM": "0.00%", "YTD 2017 Net Flows($,M)": "0.00"}, {"Issuer": "LocalShares", "Net Flows ($,M)": "0.00", "AUM ($,M)": "8.83", "% of AUM": "0.01%", "YTD 2017 Net Flows($,M)": "-0.00"}, {"Issuer": "CSOP", "Net Flows ($,M)": "0.00", "AUM ($,M)": "8.35", "% of AUM": "0.00%", "YTD 2017 Net Flows($,M)": "-0.67"}, {"Issuer": "Premise Capital", "Net Flows ($,M)": "1.34", "AUM ($,M)": "8.03", "% of AUM": "16.64%", "YTD 2017 Net Flows($,M)": "2.63"}, {"Issuer": "USCF Advisers", "Net Flows ($,M)": "0.00", "AUM ($,M)": "5.70", "% of AUM": "0.00%", "YTD 2017 Net Flows($,M)": "0.00"}, {"Issuer": "AlphaClone", "Net Flows ($,M)": "0.00", "AUM ($,M)": "2.09", "% of AUM": "0.00%", "YTD 2017 Net Flows($,M)": "-0.99"}, {"Issuer": "BMO", "Net Flows ($,M)": "0.00", "AUM ($,M)": "0.00", "% of AUM": "0.00%", "YTD 2017 Net Flows($,M)": "0.00"}, {"Issuer": "Royal Bank of Canada", "Net Flows ($,M)": "0.00", "AUM ($,M)": "0.00", "% of AUM": "0.00%", "YTD 2017 Net Flows($,M)": "0.00"}]
Disclaimer: All data as of 6 a.m. Eastern time the date the article is published. Data is believed to be accurate; however, transient market data is often subject to subsequent revision and correction by the exchanges.
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Permalink| © Copyright 2017ETF.com.All rights reserved || Bitcoin hits all-time high as talk of U.S. ETF approval intensifies: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Digital currency bitcoin hit a record high on Friday on optimism about the approval of the first U.S. bitcoin exchange-traded fund by the Securities and Exchange Commission. "There's one catalyst at the moment and that is the expectation that the Winklevoss Trust will be approved on the 11th of March. That's the only game in town," said Daniel Masters, portfolio manager of Jersey-based Global Advisors Bitcoin Investment Program. Investors Cameron and Tyler Winklevoss have a pending application with the SEC for a bitcoin ETF, which was filed nearly four years ago. On March 11, the twins are expected to receive a final decision from the U.S. Securities and Exchange Commission on whether they can list their ETF. If approved by the SEC, this would be the first bitcoin ETF issued by a U.S. entity. On Friday, bitcoin climbed to a record $1,298 on the BitStamp platform. Bitcoin last traded at $1,263.01, up nearly 5 percent on the day. So far this year, bitcoin has surged more than 30 percent. Bitcoin is a virtual currency that can be used to move money around the world quickly and anonymously without the need for a central authority. Darin Stanchfield, founder and chief executive officer of bitcoin wallet KeepKey, said the approval of the Winklevoss ETF would be a big boost to the market. "It should add a fair amount of liquidity to the bitcoin market," added. To date, there are two other bitcoin ETF applications with the SEC. Grayscale's Bitcoin Investment Trust, backed by early bitcoin advocate Barry Silbert and his Digital Currency Group, filed its application with the SEC in March last year. SolidX Partners Inc, a U.S. technology company that provides blockchain services, also filed its ETF application in July of last year. 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 clear the transaction is rewarded with new bitcoins. Analysts said the groundwork for bitcoin gains was laid in July last year in a process called "halving," where rewards offered to bitcoin miners shrink. That has constrained the supply of the digital currency. Dan Morehead, chief executive officer at hedge fund Pantera Capital, said in his recent letter to investors that the bitcoin price moves in line with the currency's use in transactions and both have risen sharply. He sees the bitcoin price possibly rising to $2,288 by the end of the year. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Sandra Maler) View comments || CaribbeanTales Flow into Production: MIAMI, FL--(Marketwired - Feb 23, 2017) - Three of the Caribbean's leading film producers will now develop pilots for their original TV series projects, via funding fromFlowand CaribbeanTales Media Group.
With $40,000 funding for each project, production work will begin onBattledream Chronicle,a sci-fi/drama animated series created by Alain Bidard, which is based on his groundbreaking multi-award winning feature film;Heat,a sweltering crime/drama series filmed in Barbados from iconic filmmaker Menelik Shabazz (Burning an Illusion, The Story of Lover's Rockand more);andCaribbean Girl NYC,an ensemble female-driven sitcom from NY-based Guadeloupian filmmaker/producer Mariette Monpierre, whose award-winning filmElzawon, among others, the prestigious NYT award.
Support for these pilots is part of CaribbeanTales Incubator Program (CTI), a year-round development and production hub for Caribbean and Caribbean Diaspora Producers to assist in the creation of strong, compelling and sustainable regional content for the global market.
"We recognise the significant hurdles that Caribbean Producers face in financing and producing their content, and getting it out to audiences," said John Reid, CEO ofCable and Wireless, operator of Flow and lead sponsor of CTI. "We are honoured to help support this programme that is enabling the production and monetisation of this exciting emerging cultural industry."
Production on the pilots will begin in April 2017. They will premier later this year at the twelfth annualCaribbeanTales International Film Festival(CTFF). Flow is also the lead sponsor of CTFF, a mix of exciting and dynamic films that showcase diverse, shared stories and cultures, and celebrates the talents of established and emerging filmmakers of Caribbean heritage. The festival will be held in Toronto, Canada between September 6 and September 20, 2017.
As an added bonus, an eight-part documentary series has been filmed and is currently in post-production. The series follows the ten teams of filmmakers who competed for this prestigious award, and will be shown onFlow1later this year.
Frances-Anne Solomon, CEO of CaribbeanTales, states, "We are delighted that, together with Flow, we are able to provide the Caribbean's top filmmakers with funding and a platform to produce top quality, local, content with the capacity to reach audiences across the region and the world."
Visit the CTIwebsitefor more information and to apply for the 2017 CTI programme. And follow Flow and CaribbeanTales onTwitter,FacebookandInstagramto stay up to date.
CTI is now accepting applications for its 2017 programme:http://caribbeantales.ca/cti.
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 atwww.cwc.com, or follow C&W onLinkedIn,FacebookorTwitter.
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) (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 visitwww.libertyglobal.com. || First Bitcoin's COINQX Opening Offices in Shanghai, China: VANCOUVER, BC / ACCESSWIRE / March 23, 2017 / FIRST BITCOIN CAPITAL CORP. (OTC PINK: BITCF) CoinQx Exchange LIMITED, a wholly owned subsidiary of FIRST BITCOIN CAPITAL CORP. and history's first publicly trading bitcoin business is pleased to announce the opening of its new offices in Shanghai, China to accommodate its rapid growth and future expansion plans into Chinese and other Asian markets. BITCF has designed its trading platform (currently in beta) to cater to Chinese Bitcoin traders and will be offered in Mandarin. New offices in China will provide capacity for customer support, engineering and other important functions for the Chinese market. CoinQX platform will enforce government imposed anti-money laundering (AML) and foreign exchange regulations. BITCF is expanding its cryptocurrency business model to focus on China where the majority of Bitcoin trading occurs. The COINQX bitcoin exchange can provide its Chinese customers access to competitive industry exchange rates and products specifically for the Chinese bitcoin traders. "Expanding COINQX.com in China will allow us to increase our customer base in key areas that align with our current and future growth plans. We will actively attract talent to join the team. Our team is excited about the rapid growth plans we have developed for China and this move represents a commitment to continue to expand into the world's largest Bitcoin trading market. " China remains the largest market for Bitcoin trading and is still responsible for over 91% of all Bitcoin trading volumes. Even the recent inquiries by the PBOC will not deter Chinese traders from getting involved in Bitcoin. Nor should that be the case, as the PBOC reportedly has no direct plans to ban Bitcoin. Volumes of bitcoin trading increased as China's foreign reserves shrank, by about 8% to $3.05 trillion in 2016. Meanwhile, the yuan weakened against the dollar, causing flow of money out of the country and increasing interest in bitcoin and other cryptocurrencies. Story continues About the company: First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange- www.CoinQX.com . We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. At this time the Company owns and operates the following digital assets. www.CoinQX.com cryptocurrency exchange, registered with FINCEN. www.iCoiNEWS.com real time cryptocurrency and bitcoin news site. www.BITminer.cc providing mining pool management services. www.2016coin.org online daily election coverage and home page for $PRES, $HILL, $GARY & $BURN -commemorative presidential election coins. Company has recently introduced $XBU -Bitcoin Unlimited Futures available for trading on CoinQX.com and OMNIDEX exchange ( http://omniexplorer.info ) www.bitcannpay.com Open Loop merchant services for dispensaries. Forward-Looking Statements Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com . Contact us via: info@bitcoincapitalcorp.com or visit http://www.bitcoincapitalcorp.com SOURCE: First Bitcoin Capital Corp. || Kim Dotcom announces new Bitcoin venture for content uploaders to earn money: WELLINGTON (Reuters) - Controversial New Zealand-based internet mogul Kim Dotcom plans to launch a Bitcoin payments system for users to sell files and video streaming as he fights extradition to the United States for criminal copyright charges. The German-born entrepreneur, who is wanted by U.S. law enforcement on copyright and money laundering allegations related to his now-defunct streaming site Megaupload, announced his new venture called 'Bitcontent' in a video posted on Youtube this week. "You can create a payment for any content that you put on the internet...you can share that with your customers, with the interest community and, boom, you are basically in business and can sell your content," Dotcom said in the video. He added that Bitcontent would eventually allow businesses, such as news organizations, to earn money from their entire websites. He did not provide a launch date. Dotcom did not provide details on how Bitcontent would differ from existing Bitcoin operations or how it would help news organizations make money beyond existing subscription payment options. Bitcoin is a virtual currency that can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government. The currency's anonymity has however made it popular with drug dealers, money launderers and organized crime groups, meaning governments and the financial establishment have been slow to embrace it since the first trade in 2009. The currencys value hit record levels in 2017, trading at $1,145 on Wednesday, a fivefold increase in a year, amid growing interest globally. A New Zealand court ruled in February that Dotcom could be extradited to the United States to face charges relating to his Megaupload website, which was shutdown in 2012 following an FBI-ordered raid on his Auckland mansion, a decision he was appealing. Dotcom, who has New Zealand residency, became well known for his lavish lifestyle as much as his computer skills. He used to post photographs of himself with cars having vanity plates such as "GOD" and "GUILTY", shooting an assault rifle and flying around the world in his private jet. (Reporting by Charlotte Greenfield; Editing by Michael Perry) || Bitcoin dives after the SEC shoots down plans for another bitcoin ETF: (Attendants pose with a bitcoin sign during the opening of Hong Kong's first bitcoin retail store.Reuters/Bobby Yip)
Bitcoin has slid into negative territory after the US Securities and Exchange Commission rejected the plans for the SolidX Bitcoin ETF.The cryptocurrency is down 0.7% at $1,033 a coin. It was as high as $1,066 earlier on Tuesday.
The regulator cited the fact that bitcoin is traded on unregulated markets, which means the SEC wouldn't be able to prevent fraud or market manipulation.In its ruling theSEC said:
"As discussed further below, the Commission 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 Commission believes that, in order to meet this standard, an exchange that lists and trades shares of commodity-trust exchange-traded products (“ETPs”) must, in addition to other applicable requirements, satisfy two requirements that are dispositive in this matter. First, the exchange must have surveillance-sharing agreements with significant markets for trading the underlying commodity or derivatives on that commodity. And second, those markets must be regulated.
Tuesday's announcement follows a similar ruling that was reached on March 10, when the SEC said it had rejected the Winklevoss twins' bitcoin ETF.
2017 has been a volatile year for bitcoin.
The cryptocurrency gained 20% in the first week of the year, but soon crashed 35% after reports surfaced that China was going to crack down on trading. First,China's biggest exchanges started charging a flat fee of 0.2% per transaction, then they announced they wereblocking customer withdrawals.
But bitcoin continued to climb higher, putting in a peak of $1,327 a coin shortly before the SEC rejected the Winklevoss ETF.
Since then, however, bitcoin has tumbled more than 20% following reports developers were threatening a "hard fork" that would split the currency in two.
Bitcoin has been the top-performing currency every year since 2010, aside from 2014.
A third SEC ruling on a bitcoin ETF, by Grayscale Investments, is also expected to be rejected; although the timing of a final decision is not yet known.
(Investing.com)
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• Bitcoin tumbles below $1,000 || Digital Currencies Went Crazy in the Wake of the SEC’s Bitcoin Ruling: Something strange is happening in the world of digital currency. When the Securities and Exchange Commission passed aharsh judgmentlast week on bitcoin, many expected the entire asset class to crumble.
Instead, the opposite has happened.
The SEC ruling, if you missed it, came down on Friday afternoon. The long-awaited decision, citing the possibility of fraud and market manipulation, rejected a proposal to create an exchange traded fund (ETF) for bitcoin, and threw cold water onhopes institutional investors would use the ETFto stock up on the currency. The market quicklypunished bitcoin, driving its price down to around $1,050--a more than 15% drop from its highs earlier that day.
But when it came to other digital currencies, investors didn’t bail on them. They started gobbling them up. These other currencies such as Ethereum and Ripple (there are dozens) aren’t as famous as bitcoin but have been around for a while, and some people treat them as a proxy asset for bitcoin. Since the SEC decision, they’ve all shot up, some of them dramatically.
Here is a chart that shows how the prices have changed. The data is compiled from each currency’s lowest price on March 10 (the day of the ruling) through Tuesday morning:
As you can see,Ethereumhas made spectacular gains. The currency, which is tied to a popular new form of blockchain technology, is up around 60%. Dash, a less well-known bitcoin rival, is up about 59%.
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The other surprise in chart is how nicely bitcoin has recovered from the SEC’s punch last Friday. Here’s a closer look, courtesy ofCoindesk, of how its price has moved since Friday:
As you can see, bitcoin is nudging back towards its near all-time high of $1,300, which came amid a frenzy of speculation that a positive SEC ruling would send the price soaring.
For now, there is no clear explanation of why bitcoin recovered so quickly, or why the so-called “alt-currencies” like Dash initially rose when bitcoin fell. Some commentators have suggested the recent boom comes from new digital currency converts who learned about the assets as a result of the publicity surrounding the ETF decision. Others say the recent prices simply reflect the fact that digital currencies are a far more sturdy asset than they were two years ago, and their values can no longer be derailed by a bit of negative news.
It’s also worth noting the SEC jolt from last week has brought about a change in the makeup of the overall market cap for digital currency. Note below how bitcoin’s share of the pie has dropped about 10% since the news:
The upshot of this is that while bitcoin still clearly dominates the digital currency world, other assets--particularly Ethereum--may now be emerging as more than also-rans.
See original article on Fortune.com
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• Here's Why National Napping Day Is Actually a Serious Matter || What You Must Know Before Subscribing to a VPN: When the U.S. Congress voted recently to overturn a Federal Communications Commission (FCC) rule requiring internet service providers (ISPs) to get a customer's permission before selling personally identifiable information, that kicked off a land rush to find virtual private network (VPN) providers to protect consumers' online privacy. There are literally hundreds of VPNs to choose from, however, and if you're not sure what these do and what they don't do, you could easily end up with a VPN that doesn't add much to your privacy except another subscription fee.
The idea of a VPN is quite simple: it provides a secure (encrypted) tunnel between your device and a website, bypassing the traffic logs kept by your ISP. For example, if your ISP is in New York City, a VPN service allows you to connect with any of several servers anywhere in the world, making it look to the website that the connection is being made from one of those servers and not the ISP you use in New York.
ALSO READ:Nearly 400 2017 Data Breaches Have Exposed More Than 7 Million Records
Your ISP can't keep a useful log of your VPN activity because it doesn't know who requested the data or from where the requested data is coming. But your VPN knows, and that's the first thing you want to learn about any VPN provider: does the VPN keep traffic logs and, if so, what does it do with them?
Some VPNs do keep traffic logs in order to provide themselves with legal protection in the event of a government request. Others keep some minimal data in order to help maintain their servers. Still others, sadly, collect the data and sell it to third parties. Because that's what you are probably trying to avoid, read the fine print and be sure to choose a service that states categorically that it does not keep logs, making sure to specify exactly the logs they don't keep. Be especially sure that the ISP does not keep activity or connection logs.
ALSO READ:14 Million Credentials Stolen from US Universities for Sale on Dark Web
A good general overview of online privacy and VPNs is posted at Krebs on Security. More comprehensive tips on selecting a VPN, with more details and a comparison chart for nearly 200 VPN providers is available at That One Privacy Site. Here's a much shorter version of some of the site's guidelines:
• Beware of VPN review websites, which are nearly always paid reviews. Also look more carefully at affiliate VPN programs.
• Be aware of where the VPN service's servers are located and where in the world you will be connecting to the VPN.
• Check on payment methods, such as Bitcoin, cash or anonymous gift cards, that allow you to maintain your privacy.
• Choose a VPN that maintains its own first-party domain name server (DNS) that doesn't leak, and check it to make sure.
• Choose a VPN that provides an IPv6 DNS server that is only reachable through a VPN tunnel, and then test it to make sure that's true.
• Choose a VPN that has strong data and handshake encryption.
Deciding if you want a VPN and the features of the VPN that are most important to you will take some time, and it will come with a price of around $10 a month. It's up to you to make sure you're getting the privacy protection you're paying for.
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[Random Sample of Social Media Buzz (last 60 days)]
$1165.00 #bitfinex;
$1162.83 #bitstamp;
$1170.37 #GDAX;
$1138.35 #btce;
$1163.46 #gemini;
#bitcoin news: http://bit.ly/1VI6Yse || Investment Analyst Pegs Bitcoin Price to Hit $3,678 If SEC Approves ETF Via cryptocoinsnews #bitcoin #bAgilepic.twitter.com/OAt9LScgfm || Reflecting back on the path traveled in 2016 -cyptocurrency's - Steemit
#Cyptocurrency #Bitcoin #Blockchain #Cryptohttps://steemit.com/cryptocurrency/@biglipsmama/reflecting-back-on-the-path-traveled-in-2016-cyptocurrency-s … || News Update Is Bitcoin Forming a New Price Floor at $1,000? - Are bitcoin prices forming a new support floor as... http://ow.ly/B4vT509Bxia || $1240.58 at 02:15 UTC [24h Range: $1215.43 - $1250.00 Volume: 5698 BTC] || One Bitcoin now worth $991.60@bitstamp. High $997.00. Low $937.52. Market Cap $16.102 Billion #bitcoin pic.twitter.com/G0pyN5mVrA || @MusicMeetFans, Get Bitcoin Faster and Less Expensive than Mining https://goo.gl/1kHrzW #BitcoinKE || On this edition of Kristan T. Harris American Intelligence Report Singer, songwriter and Face of Bitcoin Tatiana... http://fb.me/7C5OUZmqj || GREXIT COMING 2.5 billion euros left Greek banks in the last 45 days DESPITE Capital Controls! Got Bitcoin?… http://dlvr.it/NPJzB6 pic.twitter.com/HO1Ji97N3r || 네? 저, 전국재패요? (당황한 얼굴로 말한다.)
|
Trend: up || Prices: 1182.94, 1193.91, 1211.67, 1210.29, 1229.08, 1222.05, 1231.71, 1207.21, 1250.15, 1265.49
|
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 2022-01-11]
BTC Price: 42735.86, BTC RSI: 35.34
Gold Price: 1818.60, Gold RSI: 55.01
Oil Price: 81.22, Oil RSI: 65.81
[Random Sample of News (last 60 days)]
City regulator appeals for Bitcoin expertise as terrorists exploit cryptocurrencies: The City regulator is calling in Bitcoin experts to train its staff over fears that money launderers and terrorists using cryptocurrencies are steps ahead in the fight against financial crime.
The Financial Conduct Authority (FCA) is spending £500,000 on consultants to provide access to a platform that analyses blockchain data and to coach officials about how they can spot criminals transferring money via decentralised financial networks.
The FCA is ramping up its surveillance of crypto transactions as part of its efforts to tackle money laundering and terrorist financing due to fears that the crypto industry has become a hotbed for financial crime.
Concerns about the rise of cryptocurrency crime have been growing in the UK amid fears that the technology is lawless and extremely high risk. Police forces across Britain have seized hundreds of millions of pounds worth of cryptocurrencies this year linkedto money laundering.
The financial regulator has issued a raft of warnings in recent months about the speculative nature of crypto assets, saying consumers should be prepared to lose all of their money.
However, the FCA has been slow to process the growing number of crypto-asset businesses operating in the UK.
The watchdog had been due to ban cryptocurrency firms not on its official register under anti-money laundering regulations from January, but having only processed four firms by that deadline, it ended up placing others on a temporary register until July.
In June, it again pushed the deadline for itsso-called temporary registrations regimeback until March 2022 with only five firms officially registered. It warned that more than 50 companies dealing in cryptocurrencies could be forced to shut after failing to comply with UK anti-money laundering rules.
Terrorists organisations are also increasingly using cryptocurrencies to discreetly funnel assets to fund their operations. In January, the FCA was granted powers to supervise anti-money laundering and counter terrorist financing under new regulations.
Extremists use digital coins to trade items such as weapons and drugs on the black market and even set up effective crowdfunding sites on the dark web where sympathisers can donate. For example, “Fund the Islamic struggle without leaving a race” is a dark webpage used to transfer bitcoins to jihadis.
Some extremists have even published books that teach supporters how to transfer Bitcoin from Western countries to jihadists.
Regulators have struggled to get a grip of crypto markets as digital currencies grow in popularity. In August, the City watchdog admitted that it was“not capable” of regulating the crypto exchange Binanceafter it refused to provide basic information about its operations.
Binance, which allows consumers to buy and sell hundreds of digital coins, “refused” to reveal information about its parent company, corporate structure or the legal body behind the Binance website, the FCA said.
Fears around cryptocurrencies being used for criminal activity has forced lenders to clamp down on certain payments.
Earlier this year, several British banks started cracking down on transfers to cryptocurrency exchanges by suspending payments to the sector due to fears about financial crime.
The FCA put the £500,000 contract out to tender last week. The successful firm will aid the regulator’s crypto surveillance efforts from March 2022 to February 2024, according to the terms of the contract.
The regulator declined to comment. || Dollar Gains After Fed Minutes Point to Early Rate Hikes: By Peter Nurse
Investing.com - The U.S. dollar pushed higher in early European trade Thursday, boosted by rising Treasury yields after theminutesfrom the December Federal Reserve meeting raised expectations of an early interest rate hike and also put the issue of reversing the bank's bond purchases in play.
At 2:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.2% higher at 96.392, remaining close to Tuesday’s one-week high.
“The minutes revealed that committee members felt inflation risks were more persistent and to the upside, and there was general agreement that the taper should be accelerated with three tentative rate hikes penciled in,” said Jeffrey Halley, an analyst at OANDA, in a note.
While this was largely what was said by Chairman Jerome Powell after the meeting in December, five-year U.S. Treasury yields, which are keenly sensitive to interest rate expectations, climbed to their highest in nearly two years. That was also due to the minutes showing that some policymakers were pressing for the Fed to start selling back into the market some of the bonds it has bought over the last two years.
Additionally, Fed Funds futures have priced in a roughly 80% chance of a quarter-percentage-point Fed hike by its March meeting.
USD/JPY fell 0.2% to 115.93, remaining near a five-year high of 116.35, while EUR/USD fell 0.2% to 1.1290. GBP/USD dropped 0.3% to 1.3518, while the risk-sensitive AUD/USD slumped 0.8% to 0.7160.
The Fed minutes mentioned an extremely tight labor market as a point of concern, andADP datareleased Wednesday showed an increase in private payrolls of over 800,000 in December, more than double the expected number.
Weeklyjobless claimsdata are due later Thursday, ahead of Friday’s keynonfarm payrollsreport.
“We suspect March is too early for a rate hike given the lack of visibility caused by Omicron, but May is clearly on the cards,” said analysts at ING, in a note.
Elsewhere, USD/CNY rose 0.3% to 6.3749, despite China’s services sector growing more quickly in December, with theCaixin services purchasing managers’ indexrising to 53.1 from 52.1 in November.
USD/TRY rose 0.8% to 13.7879, with Turkey set to release its latest data for foreign exchange reserves later in the session. The country’s central bank recently unveiled a plan to compensate lira holders for any currency losses, in order to stop sharp selling of its currency as it cut interest rates. However, it has also been intervening heavily in the foreign exchange markets as well.
“By my reckoning, the lira has already given back around 35% of its engineered gains in the past week or so, if reserves show a big drop this evening, the Turkish lira vigilantes will be back out in force,” added Halley.
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Dollar Up, Investors Digest Hawkish Fed Minutes || Crypto news services in China appear unavailable: News sites such as ChainNews – one of China’s largest crypto information sites – and Odaily, a crypto and blockchain outlet, have become inaccessible following the nation’s ban on cryptocurrency. The clampdown on cryptocurrency in China has spread to news outlets being rendered unable to publish content. ChainNews tweeted on Monday that maintenance would cause the site to go dark for eight to 10 hours and has now continued reporting news on Twitter as well as the community app, Telegram, despite the fact that both Twitter and Telegram are banned in China. The official site Odaily has continued to be inaccessible to Thursday and is now publishing news on an alternative website called Odaily.com. Telegram has seen a sharp increase of users migrate from WeChat, a Chinese instant messaging app, according to an anonymous source from a major cryptocurrency news site who said political sensitivity forced them to censor their own content. This isn’t surprising news in China as, following the crackdown on Bitcoin mining and trading, cryptocurrency website Bishijie was forced to shut down its app and site after admitting it had violated central bank regulations. Crypto exchanges were also affected by China’s move to ban cryptocurrency with Huobi Global – one of the world’s biggest crypto exchanges – was forced to cease operations in China and close all user accounts. || Florida has a new crypto-themed restaurant offering 'bitcoinana split,' 'crypto cuban' sandwiches, and 'dogedog' hotdogs that accepts all cryptocurrencies as payment: Crypto Street Restaurant, Clearwater Beach, Florida. @ClwBeachCrypto/Twitter A crypto-themed restaurant offering customers offbeat-sounding food items opened in Florida this month. Customers can choose from a wide-ranging menu including "Crypto Cuban" sandwiches, "Dogedog" hotdogs, and a "Bitcoinana split." The bistro's owner said his 24-year-old son is the inspiration behind the restaurant's concept. Sign up here for our daily newsletter, 10 Things Before the Opening Bell . A new restaurant in Clearwater Beach, Florida wants more customers to partake in the crypto craze. Crypto Street Restaurant, located in the Residence Inn by Marriott hotel at 309 Coronado Drive, opened to the public earlier in December. The items on its menu , which are American and Hispanic staples, are tweaked to sound familiar to cryptocurrency enthuasists. "Crypto Cuban" sandwiches, "Nutty Protocol" salad, "DeFi Ceasar Salad," "Shiba Shrimp Cocktail," "Bitcoinana Split," and "To The MOOOONNN" brownie sundae are some of its quirky-sounding options. Its walls have art depicting bitcoin and ethereum symbols, a rocket headed to the moon, and quotes by dogecoin advocate Elon Musk, according to local media outlet Tampa Bay Times . The restaurant accepts any type of cryptocurrency, including "shitcoins," owner Ricardo Varona told the newspaper. Varona, who has helped visitors open accounts on crypto exchange Coinbase , said he hopes the bistro can be a place where common misconceptions about digital assets can be eliminated. Varona's son is behind the inspiration for his restaurant. The entrepreneur first ignored his 24-year-old son when he told him about cryptocurrencies years ago, saying he was crazy and "that's not worth anything." But during the pandemic, he wanted to start a restaurant that accepted crypto as payment. "Maintaining the profit margin was hard and we know the supply chain issues and all that," he told Tampa Bay Times. Story continues Crypto Street Restaurant Yelp.com He then left another venture in the food business to open Crypto Street. "So far the younger crowd loves it and come back," he said. "With the older crowd, there's a lot of people that have interest and similar stories to mine where their son or grandson taught them something. So it creates pretty cool conversations." Varona said the "dogedog" hotdogs are among the most popular, and customers don't refer to the club sandwich by its dull name. "People rarely tell us to make a club sandwich," he said. "Instead customers say 'I will get a blockchain.' They're just having fun with it and that's pretty cool." Read More: Meet 'the plebs', a community of over 5,000 ordinary people powering the network behind Twitter and El Salvador's bitcoin payments. They explain how to get started — and share how they earn bitcoin passively Read the original article on Business Insider || Polkadot Chief Promises Freedom From Ethereum’s ‘Economic Enslavement’: The completion of the first Polkadot parachain auction was occasion for its creator, Gavin Wood, to herald a newfound freedom from the economic constraints of Ethereum smart contracts. Wood, a co-founder of Ethereum who helped develop the smart contract programming language Solidity, said Polkadot’s economic lease-holding model for parachains (literally, parallelized chains ) is exactly why users don’t need to buy a platform token, or need to know anything about the framework’s overarching native token, DOT. It’s a model that stands in stark contrast to Ethereum and most of Ethereum’s competitors, according to Wood. “The users of applications that are built on Ethereum are enslaved to it in an economic sense,” said Wood in an interview with CoinDesk. “These users have to own ether on Ethereum and oftentimes some other token that allows them to use whatever application that is built using Ethereum smart contracts. This is a huge limitation.” Imagine, said Wood, if every time you did a Google search you had to pay Google a tenth of a cent for electricity. “That just doesn’t make any sense,” he said. “This is the key difference between the application model of free execution with Polkadot versus the smart contract model of transactive execution that you get with Ethereum and Ethereum’s competitors.” Polkadot’s approach From a high level, the Polkadot framework allows application developers to build their own blockchains with their own rules, and for those chains to be able to communicate with one another. The interlinked blockchain system benefits from the pooled security guarantees of the Relay Chain, which connects the various parachains and serves an important role in validating Polkadot’s randomized proof-of-stake consensus mechanism. Bitcoin mind warp Rather provocatively, Wood said Ethereum is actually closer to Bitcoin than many of its adherents would freely admit. “It’s really Bitcoin, but with some extra scripting,” he said. “It’s up to the Ethereum miners which transactions they include, in exactly the same way as Bitcoin miners can choose to include this Bitcoin transaction rather than that Bitcoin transaction.” Story continues The vagaries of Ethereum miners are part of a more fundamental problem with a blockchain implementation that was not designed to accommodate actions or tasks at the application level. Everything happens at the user level in smart contracts, said Wood. Parachain race Polkadot’s first closely fought auction saw the two leading projects, Moonbeam and Acala, collect over $1.3 billion worth of DOT each in a bid to snag the first parachain slot. Taking this into account, it’s been said Polkadot’s expensive competition to secure leasing awards isn’t an open system in the same way that Ethereum is. Wood pointed out the economic model of parachain auctions still allows for “parathreads,” a pay-as-you-go approach that’s somewhere between a parachain model and the smart contract model where users pay. But with an important difference. On Polkadot it’s still the blockchain paying the system, he said, so that blockchain’s users don’t have to hold the token and don’t have to pay for the application. “You get much more freedom as an application provider,” said Wood, “both the economic freedom to not pass on this exposure to DOT tokens the way Ethereum requires you to do, and technical freedom to allow you to actually use the full gamut of blockchains capabilities.” Read more: Acala Wins First Polkadot Parachain Auction, With $1.3B in DOT Committed Looking ahead The winners of the first batch of auctions will go live together in mid-December, with many more to follow. Looking ahead, Wood pointed to some technology areas he is interested to see being worked into the Polkadot universe. This included asynchronous smart contract platforms focused on future levels of composability between blockchains and blockchain shards, which he called “smart contracts 2.0.” Other interesting areas being tackled using Substrate were trusted execution using Intel SGX type of environments, and zero-knowledge proofs tech, both for shielding and privacy, as well as throughput efficiency via rollups. He also mentioned more “crazy stuff,” such as common-good parachains with non-profit motives. “I do my best to build something very abstract and general, so it can be used for things beyond what I can see,” said Wood. “There’s definitely a feeling of accomplishment when you see what you’ve built being used for something you didn’t envisage.” || Ethereum Faced Resistance At The 20 EMA And Pulled Back: Ethereumcontinues to trade near the support level at $4,200 whileBitcoinis trying to settle below the psychologically important $60,000 level.
Bitcoin has recently made an attempt to get above $61,000 but failed to develop sufficient upside momentum and pulled back towards the support level at $60,000. A move below $60,000 will push Bitcoin towards the 50 EMA which is located near $59,100. In case Bitcoin manages to settle below the 50 EMA, it will gain additional downside momentum which will be bearish for the whole crypto market.
Other leading cryptocurrencies are currently moving lower together with Bitcoin.Shiba Inudid not receive much support from the recentwhale transactionsand is currently trying to settle below the support level at $0.000047. Another meme cryptocurrency,Dogecoin, attempts to get below $0.23. Meanwhile,Solanamanaged to settle below the support at $216 and is moving towards the $210 level.
It looks that crypto markets’ recent attempt to rebound was not successful, and there is a growing risk of additional sell-off, which is bearish for Ethereum and other leading cryptocurrencies.
Ethereum has recently made an attempt to settle above the 20 EMA at $4,330 but failed to develop sufficient upside momentum and pulled back towards the support level at $4,200.
In case Ethereum manages to settle back below the support at $4,200, it will get to the test of the next support level at $4,100. A move below this level will open the way to the test of the support at the 50 EMA at $3,935. If Ethereum declines below this level, it will move towards the support at $3,715.
On the upside, Ethereum needs to settle above the 20 EMA to have a chance to develop upside momentum in the near term. A successful test of the resistance at the 20 EMA will open the way to the test of the next resistance at $4,535.
In case Ethereum gets above $4,535, it will move towards the resistance at $4,650. A move above this level will push Ethereum towards the resistance at $4,770.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
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• EUR/USD Daily Forecast – Test Of Resistance At 1.1325 || Kazakhstans Hashrate Drops as Internet Blackout Persists: Kazakhstans bitcoin mining industry, the worlds second largest, has been severely disrupted for a second day by a nationwide internet blackout amid widespread protests. Didar Bekbau, a co-founder of Kazakh mining firm Xive, tweeted yesterday: no internet, no mining, and Norway-based researcher Jaran Mellerud confirmed to CoinDesk that it is next to impossible to mine without the internet. Top mining pools had lost an average of 10% of their hashrate in 24 hours as of 6 a.m. UTC, according to data from pool BTC.com . The hashrate measures computing power on the bitcoin mining network. Kazakhstan is second only to the U.S. in bitcoin mining hashrate, with about one-fifth of the global total according to August data from the Cambridge Bitcoin Electricity Consumption Index . It looks like the internet connection is down in all of Kazakhstan, Alan Dordzhiev, head of the Kazakh National Association of Blockchain and Data Center Industry, told CoinDesk on Thursday. Therefore none of the farms are able to connect to the mining pools. Bitmains platform BitFuFu said at around 3 a.m. UTC today that mines in Kazakhstan were facing disruptions with network connectivity and electricity and that it was trying to connect to local staff. Internet watchdog NetBlocks reported that internet connectivity in Kazakhstan is still almost nonexistent. Connectivity was initially lost at around noon UTC Wednesday. Metrics indicate a simultaneous loss of connectivity affecting multiple providers, which could indicate the use of a centralized kill-switch, NetBlocks told CoinDesk in a Twitter message. The internet was briefly and partially restored during Kazakh President Kassym-Jomart Tokayevs speech a few hours later, according to NetBlocks, when he asked Russia and its allies to help Kazakhstan tackle what he called a terrorist threat. Protests erupted in the southern city of Zhanaozhen over a hike in the price of liquefied petroleum gas, commonly used to power cars, which took effect over the weekend. Kazakhstans electricity grid has been under strain in the last few months. Thats in part because of increased demand from crypto miners , but also because of failures of coal plants and other infrastructure-related issues. The protests spread to Almaty, the former capital and largest city by population, and devolved into the worst riots the country has seen since it gained independence from the Soviet Union in 1991, according to international media. Yesterday, protesters reportedly broke into the mayors building amid widespread looting. Dozens of protesters and 12 police officers have been killed, the Associated Press reported . A Russia-led peacekeeping force is set to intervene to quell the unrest. The hashrate of major mining pools has taken a hit as Kazakhstan's internet appears to be down since Jan. 5. (Data from BTC.com) || SAITECH Announces Two New Members to the Board of Directors: SAITECH announces two new members to its board of directors (the "Board") upon the completion of the business combination, each experienced in technology, AI, academia, and research. SINGAPORE, Dec. 06, 2021 (GLOBE NEWSWIRE) -- SAITECH Limited ("SAITECH" or the “Company”), an energy-saving bitcoin mining operator that engages in the hosting of bitcoin mining machines, today announced that it expects to appoint two additional members to its Board upon the consummation of the pending business combination with TradeUP Global Corporation (NASDAQ: "TUGC") ("TradeUP Global"), a publicly-traded special purpose acquisition company. SAITECH will become a publicly listed company on NASDAQ under the new ticker symbol "SAI" upon the completion of the business combination. Mr. Arthur Lee, Founder and CEO of SAITECH, commented the following in connection with the appointment of the two new Board members: "As we get closer to the completion of our transaction, it is critical that we put together a stronger team of Board members that can bring their extensive industry experiences and insights to our management team to help us achieve our mission of providing innovative technological solutions to the Bitcoin mining industry. I eagerly welcome both Mr. Yusen Chen and Dr. Jinlong Zhu to the Board, and am highly confident that both members will add significant value to our Company as we move into our next phase of growth and bring more sustainable and innovative technologies to the market." Mr. Yusen Chen is the founder and CEO of Hangzhou Jiao Gei Mao Ba Technology, a company that applies advanced technologies in AI and graphics to the gaming industry. From July 2016 to July 2021, Mr. Chen served as the co-founder and CEO of Beijing Chaitin Technology, a fast-growing startup in China that provides infiltration testing, security consulting services, and cyber-attack detection solutions. In October 2019, Chaitin Technology was fully acquired by Alibaba Cloud, a subsidiary of the Alibaba Group. In 2015, Mr. Chen attended the US Black Hat Conference as a keynote speaker, and in 2017 he was featured in the Forbes 30 under 30 Asia: Enterprise Technology. Mr. Chen holds a bachelor’s degree from Zhejiang University and was a visiting scholar at Northwestern University. Dr. Jinlong Zhu is a tenured associate professor at the Southern University of Science and Technology, where he leads a research project on solid-electrolyte battery materials that is backed by the Shenzhen Science and Technology Program. From November 2016 to June 2019, Dr. Zhu served as a staff scientist at The Center for High-Pressure Science & Technology Advanced Research in Beijing. In 2015, Dr. Zhu was an associate researcher at the U.S. Department of Energy ("USDOE") funded HPSEC at the University of Nevada, Las Vegas. Prior to that, he worked as a postdoctoral researcher within the same organization. During this time, he was mainly engaged in conducting functional materials research, gas hydrate research, and battery materials research, particularly with regards to the application of Big Science devices such as Neutron and Synchrotron Light Source. He was involved in various funding projects, which included an ARPA-E (“Advanced Research Projects Agency - Energy”) project that was also supported by the USDOE, and in which Nobel Prize winning Professor Goodenough was a team member. From August 2010 to December 2013, Dr. Zhu was a post-doctoral researcher at Los Alamos Neutron Science Center. Dr. Zhu holds a Ph.D. degree in Physics: Condensed Matter Physics from the Institute of Physics CAS, and a bachelor’s degree in Engineering and Materials Science from Zhejiang University. Story continues About SAITECH SAITECH is an energy saving digital asset mining operator that engages in the hosting of bitcoin mining machines for its clients. SAITECH uses proprietary liquid cooling and waste heat recovery technology for its digital asset mining machines, which utilizes waste heat to provide recycled energy heating to potential customers while lowering mining operating costs. SAITECH strives to globally become the most cost-efficient digital asset mining operations company, while simultaneously promoting the clean transition of the bitcoin mining industry. For more information on SAITECH, please visit https://sai.tech/ . For investor and media inquiries, please contact: Christensen Anthony Cheong Phone: +852 2117 0861 E-mail: acheong@christensenir.com SAITECH Media Relations Zoya Ji Phone: +65 9656 5641 Email: zoyaj@sai.tech View comments || Bitcoin’s Winter Strike With Extreme Volatility: Over the past two weeks,Bitcoinhas lost almost 20%, demonstrating the extreme volatility of the crypto market.
On the daily price chart of the flagship Crypto, upside momentum continues to slow, suggesting consumers have continued to take profits.
The relative strength index on the daily chart is not yet oversold, which suggests more downside is possible in bitcoin for the foreseeable future.
At $53k, the 100-day moving average could attract buyers in the same way it did in late September when the price began to recover.
While traditional markets are concerned with moves on this scale, it is business as usual in Bitcoin ecosystem which has largely retained its bullish conviction. In early London trading on Friday, the largest cryptocurrency slipped below $56.5k for the sixth consecutive day.
Crypto corrections are nothing to worry about. In light of how far the market has come in recent months, a break to $50k would be relatively minor considering how much it’s dropped from the highs.
After prices skyrocketed 40% in October, some analysts say a sharp decline is normal. China’s crackdown on crypto and new tax reporting provisions in the U.S. that are viewed as unfriendly by crypto investors have soured sentiments as well.
Interest rates rose and the system was drained of liquidity during 2016/17 Bitcoin winter, so crypto lost its wind.
It is not uncommon for cryptocurrencies to experience price swings of 20% or more.
The cryptocurrency fell more than 50% by late June after hitting a record high of almost $65,000 in early April. Within a couple of weeks, the price dropped about 25% from its peak of nearly $53,000 in early September.
Investors in digital assets are sometimes unfazed by pullbacks as large swings are expected. Though such arguments are controversial, some people see Bitcoin as a modern-day inflation hedge and store of value.
Thisarticlewas originally posted on FX Empire
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• The US is Slow with its CBDC Development, Says Former CFTC Chair || Wall Street retreats from records, U.S. Treasury yields rise: By Chris Prentice and Saikat Chatterjee
WASHINGTON/LONDON (Reuters) - Wall Street retreated from record highs on Monday, and shares of lenders rallied as two-year U.S. Treasury yields rose after President Joe Biden tapped Jerome Powell to continue as Federal Reserve chair.
European shares were flat, under pressure from fears of a resurgent coronavirus pandemic.
The S&P 500 and Nasdaq Composite touched all-time highs before ending lower. The S&P 500 lost 0.32% to end at 4,682.88 points, while the Nasdaq Composite finished down 1.26%, at 15,854.76 amid losses in technology stocks.
The Dow Jones Industrial Average rose 17.28 points, or 0.05%, to 35,617.83.
Biden nominated Powell as chair and Lael Brainard, the other top candidate for the job, as vice chair. Powell's current term has proven positive for risk assets, with the S&P gaining 69.7% since his appointment.
The S&P 500 banks index gained.
"The nominations signal continuity for policy at a critical time for the economy," said Arthur Hogan, chief market strategist at National Securities in New York.
The U.S. dollar rose 0.52% against a basket of other major currencies.
The pan-European STOXX 600 index finished flat after falling earlier in the day when German Chancellor Angela Merkel said Europe's biggest economy needed tighter restrictions to control a wave of COVID-19 inflections. MSCI gauge of European shares fell 0.6% as traders weighed the likely impact of fresh European COVID-19 restrictions on economic prospects.
Europe's "growth potential is being derailed by COVID right now. You're seeing flows back to the United States as a result," said Edward Moya, senior market analyst at brokerage OANDA.
French health authorities reported 5,266 daily new COVID-19 infections, pushing the seven-day moving average of new cases to an almost three-month high.
Austria powered down public life as its fourth national COVID-19 lockdown began.
High frequency data has already shown the European economy struggling to gain traction relative to its U.S. counterpart.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.11%.
The euro fell 0.57% and touched the lowest in more than 16 months. The common currency has been the prime mover in markets over recent sessions as investors bet Europe's economy will lag the U.S. recovery.
U.S. Treasury yields rose, with the two-year yield, which typically moves in step with interest rate expectations, hitting its highest level since early March 2020.
Fed Vice Chair Richard Clarida said last week that quickening the pace of tapering might be worth discussing at December's meeting. Minutes of the Fed's November meeting are due for release on Wednesday.
In commodities, gold prices were under pressure as Powell's nomination drove expectations that the central bank will stay the course on tapering economic support. Spot prices were down 2.16% by 4:23 EST (2124 GMT) and U.S. gold futures settled 2.4% lower at $1,806.30.
Oil prices rebounded from recent losses on reports that OPEC+ could adjust plans to raise oil production if large consuming countries release crude from their reserves or if the coronavirus pandemic dampens demand.
Brent crude settled up 1.03% at $79.70 a barrel and U.S. crude finished up 1.07% to $76.75 per barrel.
"The Biden administration is serious about tackling inflation and we’re not going to have runaway inflation kill the U.S. economy," OANDA's Moya said, citing the expected tapping of strategic petroleum reserves.
Bitcoin dropped 4.5%, extending its rout after posting its worst week in two months last week.
(Reporting by Chris Prentice in Washington and Saikat Chatterjee in London; Editing by Catherine Evans, Alexander Smith, Dan Grebler and David Gregorio)
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 43949.10, 42591.57, 43099.70, 43177.40, 43113.88, 42250.55, 42375.63, 41744.33, 40680.42, 36457.32
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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.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Kenya’s central bank is taking out newspapers ads to warn against buying Bitcoin: The safest way to transfer money. The Central Bank of Kenya took out local newspaper ads this week to warn citizens of the dangers of crypto-currencies like Bitcoin. CBK – “Bitcoin and similar products are not legal tender nor are they regulated in Kenya” #statusquo pic.twitter.com/mdmkxTGMUx — Winter soldier (@Neloversion) December 15, 2015 Among the concerns it raises: Once again, Norway has been voted the best country in the world for humans Virtual currencies are traded in exchange platforms that tend to be unregulated all over the world. Consumers may therefore lose their money without having any legal redress in the event these exchanges collapse or close business. The public should therefore desist from transacting in Bitcoin and similar products. The CBK isn’t just following the lead of other governments that have warned citizens to steer clear of the unregulated virtual currency. It also is wading into a widening spat between the country’s dominant telecom, Safaricom, and an upstart remittances company that uses Bitcoin, called Bitpesa. Bitpesa and another start up, Lipisha, are both suing Safaricom for intimidation and cessation of service without notice for blocking their access to Safaricom’s widely used mobile money platform, Mpesa. The day before the central bank’s ad appeared, a Kenyan High Court judge ruled that Safaricom does not have to grant Bitpesa and its partner access while the court case proceeds. Ironically, the fight is between two companies that are both using technology to improve life for Africa’s emerging but still disadvantaged middle and working classes. Mpesa enables customers—including millions who are “unbanked”—to transfer, use, or store cash on their cell phones. It has helped raise the rate of Kenyan adults with access to formal financial services from to 67% in 2014, up from 41% in 2009. The platform also is being used for a range of other projects, from improving healthcare to giving rural areas access to solar power . Story continues Bitpesa, founded by former development professionals working in micro-finance, aims to reduce the high cost of money transfers for Africans living and working away from home. Africans spend double the global average rate to send remittances. Through Bitpesa, users can transfer bitcoin and then convert it into Kenyan shillings. The two-year-old company has raised more than $1.7 million from investors. “We were fans of the innovation that Safaricom first shared with Kenya and the region back in 2007-2009, and we watched as other companies built upon this first mobile money network, with iterations taking the technology to places Safaricom alone could never go,” Bitpesa co-founder Elizabeth Rossiello wrote in a Dec. 14 blog post . The debate over how to regulate Bitcoin also encapsulates the competing interests of innovation and status quo in a country that is dubbed East Africa’s “Silicon Savannah.” Safaricom, founded in 1997, is one of the country’s most established telecom firms and its largest mobile network provider. It has defended its decision to block Bitpesa by saying the startup does not meet anti-money-laundering laws. (Bitpesa counters that it does not fall under such regulations.) Observers point out the fact that Safaricom is also entering the remittances industry with a partnership between South Africa’s MTN Group and its parent company Vodafone that will allow users in both networks , which covers most of east and central Africa, to transfer money across the region on their phones. One of Bitpesa’s board members and investors, Joseph Mucheru has been nominated to be the country’s cabinet secretary for information and communications technology. He has said that once he is sworn in he will divest from the company, but his views are clear. He told a local newspaper , “It will be a sad day if we fail to embrace this because we are afraid. Kenya cannot be the tech hub of Africa if our own regulations stifle innovation.” But at least for now, Kenya’s central bank seems to think the caution is worth the tradeoff. Sign up for the Quartz Africa Weekly Brief — the most important and interesting news from across the continent, in your inbox. Sign up for the Quartz Daily Brief , our free daily newsletter with the world’s most important and interesting news. More stories from Quartz: Most of the information we spread online is quantifiably “bullshit” This simple negotiation tactic brought 195 countries to consensus || 5 'Bold' Predictions For 2016: In a new report, Cup & Handle Macro analyst Michael Lingenheld revealed five bold market predictions for 2016. Here’s a breakdown of his list.
1. Revolution in a major emerging market
Lingenheld believes that South Africa is the top target, but names Turkey, Indonesia, Malaysia, Saudi Arabia, Ukraine and Russia as other possibilities. All of these countries are currently suffering from large debt burdens, poor leadership and high youth unemployment.
2. Bitcoin outperforms all fiat currencies
Lingenheld made this same prediction prior to 2015, and it came true. Bitcoin gained 35 percent in 2015, and he sees no reason why the cryptocurrency won’t outperform again in 2016.
3. A major currency peg will break
Lingenheld notes that the IMF’s annual review of currency regimes revealed than only 35 percent of member countries let their currencies float as of the beginning of 2015. He adds that Middle Eastern countries suffering from low oil prices are top candidates, including Saudi Arabia, Kuwait and UAE.
“Bringing down any of these pegs would be a major macro story, but a free-floating or devalued Hong Kong Dllar would be a monumental development,” Lingenheld explains.
4. Corn and wheat will each rally at least 20 percent
Global stock-to-use ratios are at 16-year highs, and low gas prices have been a major boost for farmers. However, Lingenheld is not convinced that crop prices are high enough to drive a huge planting season in the spring.
5. A unicorn company will go bankrupt
Lingenheld sees a shift in market enthusiasm for new tech companies, including the disappointingSquare Inc(NYSE:SQ) IPO pricing. He believes that the reality of competing with big tech companies likeAlphabet Inc(NASDAQ:GOOGL), Apple Inc.(NASDAQ:AAPL) andAmazon.com, Inc.(NASDAQ:AMZN) will start weighing heavily on smaller unicorn companies and their investors.
Disclosure: the author holds no position in the stocks mentioned.
Latest Ratings for AAPL
[{"Dec 2015": "Dec 2015", "Cowen & Company": "Barclays", "Maintains": "Maintains", "": "", "Market Perform": "Overweight"}, {"Dec 2015": "Dec 2015", "Cowen & Company": "BMO Capital", "Maintains": "Initiates Coverage on", "": "", "Market Perform": "Outperform"}]
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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. || Lead developer quits bitcoin saying it "has failed": By Jemima Kelly LONDON, Jan 15 (Reuters) - Bitcoin slid by 10 percent on Friday after one of its lead developers, Mike Hearn, said in a blogpost that he was ending his involvement with the cryptocurrency and selling all of his remaining holdings because it had "failed". Hearn, one of five senior developers who has spent more than five years working on the web-based currency, said he would no longer be taking part in development. "Despite knowing that bitcoin could fail all along, the now inescapable conclusion that it has failed still saddens me greatly," Hearn said in his post on blog-publishing platform Medium. Along with Gavin Andresen, who was chosen by bitcoin's elusive creator Satoshi Nakamoto as his successor when he stepped aside in 2011, Hearn has been locked for months in a battle with the other lead developers over whether the "blocks" in which bitcoin transactions are processed should be enlarged. Each block currently has a capacity of one megabyte, which Hearn says is "an entirely artificial capacity cap", and allows a maximum of just three payments to be processed per second. In August, Hearn and Andresen released a rival version of the current software, called Bitcoin XT, which would increase the block size to 8 megabytes, allowing up to 24 transactions to be processed every second. While that is still a fraction of the 20,000 or so that Visa can process, it would increase every year, so that bitcoin could continue to grow. But the new software has not been adopted by the "mining" computers that secure the network, the majority of which are in China, according to Hearn. Hearn says the bitcoin network is about to run out of capacity as the volume of transactions increases. And when that happens, the network will become unreliable, with payments unable to be processed and vulnerable to fraud. "If an IT system runs out of capacity like that then all kinds of things go wrong - all hell breaks loose," he said in an interview with Reuters in late December. Story continues Hearn reckons the bitcoin community has "failed" in its governance of the crytocurrency's code. "What was meant to be a new, decentralised form of money that lacked 'systemically important institutions' and 'too big to fail' has become something even worse: a system completely controlled by just a handful of people," he wrote. SUDDEN DEPARTURE Just months ago, in August, Hearn told Reuters that whether or not Bitcoin XT was adopted, the crypocurrency would live on. "If we thought it might be the end of bitcoin, we wouldn't do it," he said then. Bitcoin was trading at around $390 on the itBit exchange by 2000 GMT, down from $430 before Hearn's blog post was published. In his December interview, Hearn said that when people realised that the bitcoin network was at breaking point, the price would fall. "The current price of bitcoin is supported almost entirely by people speculating on its future, in the assumption that this could be the money of tomorrow," he said. "So if the network starts to collapse, then a lot of people are going to look at it and say: well maybe we've miscalculated (its) future value." Hearn is now working for the R3CEV consortium of banks working on using the blockchain technology that underpins bitcoin in financial markets. Stephan Tual, the former chief operating officer of blockchain firm Ethereum, who now works at blockchain-based app developer Slock.it, also reckons bitcoin's future looks shaky. "Bitcoin is outdated technology - almost prehistoric by crypto standards," he said. "It's because of petty quarrels such as these that it hasn't been able to evolve in five years." Others were more upbeat. "I'm not ready to declare that Bitcoin has failed," wrote U.S. venture capitalist Fred Wilson. "Sometimes it takes a crisis to get everyone in a room... So if we are going to have a crisis, let's get on with it. No better time than the present." (Reporting by Jemima Kelly; Editing by Ruth Pitchford) || Why GAHC Is Like a Biotech Stock: HOUSTON, TX / ACCESSWIRE / December 8, 2015 /Biotechnology stocks have had another huge year in the OTC markets.
Generally, biotechnology stocks make some of the largest moves on the OTC. The reason being most of the biggest rags to riches stories on the OTC are biotech companies.
Why is that? Most biotechs have long expensive trial phases to get through before they'll ever make a dime of revenue, and going public helps these companies raise the capital necessary to make it to solvency. But, if they do make it through the trial phases the payoff can be huge.
Why do speculative investors love biotechs? Biotechnology companies generally have a novel technology or concept to solve a multi billion dollar problem, and earn patents throughout the trial phases.
This is why we have been looking atGlobal Arena Holding, Inc. (GAHC).
GAHCis not a biotechnology stock, but it shares many of the same properties that make it a company you should look at immediately.
Global Arenahas invested inBlockchain Technologies Corporation. ("BTC"),and is working toward a full acquisition.BTCleverages the groundbreaking blockchain, which some - like Marc Andreessen - are calling the most significant technology since the internet, and creates patents for novel uses of the blockchain that will solve multi billion dollar inefficiencies across a number of industries. These include financial markets, banking, electronic payment systems, private & public contracts and election services through various applications such as: exchanges, smart contracts and voting.
Much like a biotech:
- Novel Technology- Solving Multi Billion Dollar Problems- Creating Patents
Unlike biotechs,GAHC, is already generating revenues through its election services subsidiary, Global Election Services.
To bring it all full circle,GAHC'sBTCwill potentially be using its Blockchain Apparatus to make filing patents easier and more efficient, which as mentioned earlier, is a big part of the biotechnology business.
Blockchain technology, which many know as the backbone of the digital currency Bitcoin, is essentially a uncompromisable public ledger of transactions. All transactions are broadcast to a network of subscribing nodes, and each node updates its own copy of the ledger with the new transactions. Once a new group of transactions is verified, a block is created and added to the blockchain. All transactions for the ledger are publicly visible and verifiable based on previous blocks.Essentially, blockchain is a ledger that anyone can add things to but no one can remove anything from. This creates a certain and verifiable record on an electronic system that cannot be hacked.
GAHClooks to be one of the first companies to fully leverage and benefit from this technology.
This could create movements similar, to several biotechnology companies we've been paying attention to:
KaleBios Pharmaceuticals (KBIO)has had a huge past few weeks since being taken over by CEO Martin Shkreli, who has spearheaded a 9,830% move. That's no misprint, it shows the kind of movement these high potential stocks can make.
Endonovo Therapeutics, Inc. (OTC:ENDV)has made an 890% move just this week! ENDV is developing two bioelectronic-based platforms for regenerative medicine. Immunotronic(TM), a non-invasive and non-implantable immuno-regulatory device designed to treat inflammatory conditions in vital organs, including acute organ failure; and Cytotronics(TM), a proprietary bioelectronic-based method of creating stem cells with enhanced biological and therapeutic properties.
In a Schedule 13G filing,Steve Cohen'sPoint72 Asset Managementreported owning 1.41 million shares ofCara Therapeutics Inc. (NASDAQ:CARA), which accounted for 5.2% of the company's outstanding shares. Cohen's family office owned a mere 24,800 shares of the company as of September 30. The clinical-stage biopharmaceutical company focuses on the development of new chemical products that target the body's peripheral nervous system in order to relieve pain and pruritus. Shares of Cara Therapeutics Inc. (CARA) had advanced by more than 100% through the end of September, when the sell-off in biotechnology stocks kicked off. Nevertheless, the stock is still 38% in the green year-to-date, and will most likely continue to be guided by investors' expectations for the success of its product candidates in the upcoming quarters.
Biotechnology stocks can make massive moves,Global Arena Holding, Inc. (GAHC)shares several properties which give it the same kind of explosive potential these speculative biotechs have and is already generating revenues with significant increases expected to continue. Make sure to take a close look atGAHC.
For more information about the blockchain, click here:http://globalarenaholding.com/blockchain-news/the-beginners-guide-to-blockchain/Legal Disclaimer/Disclosure:This is a sponsored article. This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. No information in this Report should be construed as individualized investment advice. For The Full Disclaimer, click herehttp://capitalgainsreport.com/disclaimer/.
SOURCE:Capital Gains Report || 10 Tech Predictions for 2016: As I always say, predicting what will happen in the tech industry over a short time horizon is a lot like shooting darts at Jell-O. But someone’s got to do it and it may as well be me. Besides, myprophecies for 2015didn’t do nearly as well asin 2014, and I’m itching to redeem myself.
I did hit a number of forecasts out of the park, including the success of Apple Pay and the demise of Twitter CEO Dick Costolo. And my prediction that the Nasdaq would break its all-time high and then fizzle out turned out to be reasonably accurate.
But a few of the calls I made, including those aboutnet neutralityand the Comcast – Time Warner Cable merger – were thwarted by Netflix CEO Reed Hastings and federal regulators. [Sigh.] And my bet oncinematic reality startup Magic Leapnever made the jump from virtual to reality.
Let’s see if I can do better this year. Here’s what my crystal ball says will happen in 2016:
Users will develop smart gadget fatigue.While smartphones and tablets, to a lesser extent, will continue to see strong growth in emerging markets, the growth curve will continue to flatten out in mature markets – especially among Android devices. Wearables will get a boost from Apple Watch 2 but unit sales will remain unimpressive compared with the incomparable iPhone.
Jack will tweak Twitter.O Twitter, Twitter! Wherefore art thou Twitter? The return of Jack Dorsey as CEO will see the cofounder do a lot of Facebook-like (move fast and break things) tweaking to Twitter, starting with increasing the 140 character tweet limit. Jack will continue to tweak the product until something good happens, as in renewed user growth and engagement.
Apple and Google car hype will reach fever pitch.Car tech is heating up in a big way. And since the market’s response to Apple’s first new products since Steve Jobs – Apple Watch and Apple TV (the product, not the hobby) – has been muted, fanboys will be clamoring for rumors on the car front. And Google will likewise be pressured to show progress on at least one of its massive Alphabet ventures, notably its self-driving car.
Drones will continue to bug neighbors, privacy buffs and the FAA.Drones will remain an annoying hobbyfor the foreseeable future. Unfortunately, nobody in desperate need of a midnight pizza or a six-pack will be getting one delivered by drone anytime soon. And definitely not anytime this year.
The digital and real worlds will meet in augmented reality (AR).Virtual reality has been the next big thingfor as far back as I can remember, but the technology behind Facebook Oculus Rift, Samsung Gear VR and Google Cardboard is becoming more real all the time. A breakthrough, however, is more likely in the AR space, where the digital and real worlds meet. That means something will pop from Magic Leap, Microsoft HoloLens, Google Glass 2, or who knows, maybe Apple.
The tech bubble will correct.With notable exceptions like Netflix and Amazon, tech stocks took a breather in 2015 after an impressive six-year bull run. But the slowing global economy, the Fed’s monetary tightening, and terrorism concerns will let some air out of theprivate equity bubbleand take the Nasdaq down into correction territory.
Satoshi Nakamoto, the mysterious Bitcoin founder, will not be found.Wired, Gizmodo and every other tech media outlet have been hot on the trail ofidentifying Satoshi Nakamoto, the pseudonym of Bitcoin’s mysterious founder. They thought they had it figured out a few weeks ago, but that turned out to be an elaborate hoax. Still, it was nowhere near as embarrassing asNewsweek’s Dorian Nakamotodebacle of 2014.
The IPO market will be weak.The private equity bubble is keeping late-stage startups that would ordinarily go public out of the IPO market. That will change when there’s a unicorn shakeout, investors get burned and VCs stop throwing money at startups at crazy valuations. That’s when tech companies will once again see public markets as viable exits. That’s when you’ll seeunicorns stampede on Wall Street. And it won’t be in 2016.
M&A activity will be strong.With the bull market running out of steam and private investors becoming more cautious, M&A exits will be on the rise. Unfortunately, a lot of them will be companies that maintain high burn rates until it’s too late and end up going for dimes on a dollar in fire sales.
Yahoo will sell its core business and Marissa Mayer will be out as CEO.Here’s a fun little rhyme for 2016, courtesy of Humpty Dumpty:
Yahoo Yahoo sat on a wallYahoo Yahoo had a great fallAll the Valley’s CEOs and all the Valley’s chairmenCouldn’t put Yahoo Yahoo together again
Jerry Yang, Carol Bartz, Roy Bostock, Tim Morse, Scott Thompson, Ross Levinsohn, Fred Amoroso, Maynard Webb. I’m sure I missed a CEO or chairman somewhere in there, but in any case, enough is enough. It’s long past time to put this company, its board, and Marissa Mayer out of their misery. Yahoo will be acquired or taken private in 2016.
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• The Most Annoying Aspects of Our Tech-Crazed Culture || 4 stocks to watch if market falls even more: U.S. stocks dropped Wednesday, continuing a rough start to the year for investors. "Fast Money" traders picked through the battered markets for names that could have potential ahead. The S&P 500 (INDEX: .SPX) slid 2.5 percent Wednesday and has lost 7.5 percent of its value this year. But opportunities still exist amid the weakness, traders said. Investors may want to avoid U.S. multinational companies that have significant exposure to a stronger dollar, contended trader Dan Nathan. Instead, he looked to the Utilities Select Sector SPDR Fund (NYSE Arca: XLU) , which he has previously described as a defensive play with the benefit of a dividend yield. Nathan has a stake in the fund as well as the PowerShares DB US Dollar Index Bullish Fund (NYSE Arca: UUP) , which he said could continue to rise with strength in the dollar. Trader Karen Finerman, meanwhile, pointed to U.S. consumers stocks that have endured recent losses. She owns Macy's (NYSE: M) shares, which have fallen 41 percent in the last year in trading that she described as "ridiculously overdone." The stock has climbed more than 10 percent already this year. Finerman also said that Home Depot (NYSE: HD) would look appealing on a price dip. The stock has fallen 8 percent this year. Disclosures: Pete Najarian Long AAPL, BAC, BKE, BMY, BP, DIS, DISCA, FOXA, GE, KO, MRK, PEP, PFE, he is long calls A, AAL, ABX, BAC, CHS, CMI, COP, DAL, EMR, GDX, GE, HAIN, HUN, LC, MOS, MSFT, NRF, NRG, PNR, POT, UAL, VZ, WYNN, YDKN, ZIOP, he is long puts FCX, MRO Dan Nathan Long 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, long INTC JAN 32 puts. Brian Kelly Brian Kelly is long BBRY, Bitcoin, GDX, GLD, Hong Kong Dollar, TLT, US Dollar; he is short British Pound, Euro, Canadian Dollar, GSG, EEM, EWC, EWH, SPY, DB Story continues Karen Finerman Karen is long BAC, C, FL, GOOG, GOOGL, JPM, KORS, KORS call spreads, M, SEDG, SPY calls, URI. She is short SPY. Her firm is long ANTM, AAPL, BAC, C, FL, FL calls, GOOG, GOOGL, JPM, KORS, LYV, M, MA, MOH, PLCE, URI, URI long puts, WFM, her firm is short IWM, MDY, SPY. Karen Finerman is on the board of GrafTech International. More From CNBC Top News and Analysis Latest News Video Personal Finance || Australia's ASX invests in blockchain to simplify markets: SYDNEY (Reuters) - Markets operator ASX Ltd on Friday said it has made a minority investment in U.S.-based Digital Asset Holdings to develop distributed ledger technology, or blockchain, to potentially simplify Australias post-trade equity market. Blockchain technology, pioneered by Bitcoin, maintains a continuously growing list of transaction data which cannot be tampered with or revised. ASX paid A$14.9 million ($10.43 million) for a 5.0 percent equity interest in Digital Asset along with funding an initial phase of development and acquiring a warrant that will give it the right to purchase further equity and appoint a director to the board. ASX will work with Digital Asset to design a new post-trade solution for the Australian equity market, it said in a statement on Friday. Over the past year, interest in blockchain technology has grown rapidly. It has already attracted significant investment from many major banks, which reckon it could save them money by making their operations faster, more efficient and more transparent. (Reporting by Swati Pandey) || 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 || 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)]
$383.30 at 06:00 UTC [24h Range: $352.00 - $392.07 Volume: 23133 BTC] via #btcusdpic.twitter.com/URAJ0yEEWG || 1 #bitcoin = $6710.00 MXN | $397.27 USD #BitAPeso 1 USD = 16.89MXN http://www.bitapeso.com || BTCTurk 1041.4 TL BTCe 353.674 $ CampBx $ BitStamp 356.00 $ Cavirtex 478.15 $ CEXIO 360 $ Bitcoin.de 336.12 € #Bitcoin #btc || #RDD / #BTC on the exchanges: Cryptsy: 0.00000005 Bittrex: 0.00000005 Average $1.9E-5 per #reddcoin 00:00:02 via #p…pic.twitter.com/OjHVtmR4RZ || $392.14 at 08:00 UTC [24h Range: $383.41 - $399.91 Volume: 13954 BTC] || $431.93 at 18:00 UTC [24h Range: $429.50 - $435.86 Volume: 5139 BTC] via #btcusdpic.twitter.com/Ox5UcSUY5o || $429.53 at 00:45 UTC [24h Range: $424.06 - $434.09 Volume: 4545 BTC] via #btcusdpic.twitter.com/zIt2humkdM || One Bitcoin now worth $389.92@bitstamp. High $395.00. Low $375.52. Market Cap $5.896 Billion #bitcoin || In the last 10 mins, there were arb opps spanning 10 exchange pair(s), yielding profits ranging between $0.00 and $399.26 #bitcoin #btc || In the last hour, 10 people won 1.00 BTC playing Bitcoin lottery at http://10xbtc.com , the easiest BTC lottery, 160BTC Jackpot
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Trend: down || Prices: 402.97, 391.73, 392.15, 394.97, 380.29, 379.47, 378.26, 368.77, 373.06, 374.45
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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 2021-09-21]
BTC Price: 40693.68, BTC RSI: 34.37
Gold Price: 1776.00, Gold RSI: 46.29
Oil Price: 70.56, Oil RSI: 53.33
[Random Sample of News (last 60 days)]
Citigroup Mulling Bitcoin Futures Products for Institutional Clients: BeInCrypto American multinational investment banking giant Citigroup Inc. is considering offering Bitcoin futures trading for some institutional clients according to reports. A Reuters report on August 25 citing a spokesperson for the bank stated that it had seen increased demand in the cryptocurrency space. The nameless source stated that the U.S. banking giant is awaiting regulatory approval to begin trading BTC futures contracts on the Chicago Mercantile Exchange (CME). 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 || DCIP Launches the First IaaS and Fully Decentralized Investment Fund Token on the Binance Smart Chain: EINDHOVEN, NETHERLANDS / ACCESSWIRE / August 20, 2021 / DCIP (Decentralized Community Investment Protocol) has announced the release of the first part of its decentralized application. DCIP is the first investment as a service (IaaS) and fully decentralized investment fund token on the BEP20 Binance Smart Chain network. Blockchains are a specific type of database that stores data in blocks and then chains the data together. The data is collectively controlled by the users and entries are irreversible. Many different types of information can be stored on a blockchain, but the most common use has been as a ledger of transactions, such as Bitcoin, which uses the technology in a decentralized, immutable blockchain. Blockchains can be incredibly useful in banking and finance as well. On April 6, 2021, Forbes reported that the cryptocurrency market had topped $2 trillion in value. It was a huge moment for crypto, and Forbes cited BNB (Binance coin) specifically as one of the main factors driving that growth. The Binance platform is one of the most popular platforms due to its low fees (some of the lowest in the industry), a large selection of transaction types, comprehensive charting options, and a large number of supported currencies. Unlike competitor tokens on Binance Smart Chain, DCIP is unique because it holds real-world use cases. DCIP has set out to turn investing on its head and invest as a community. Token holders have complete influence over the investments DCIP will make. The rewards from those investments will be distributed among token holders. The community investment wallet will invest the funds allocated to the wallet into new projects, NFTs, or anything the community decides to invest in. Its wallet will have a real-time audit on the dashboard. DCIP has established community voting for decentralized investment decisions and features a fully decentralized voting option in its smart contract, conceptualizing the idea of decentralized investments. Investments on the platform are fully decided by token holders, verified and saved within its smart contract. Story continues Built-in voting in the smart contract ensures that all decisions regarding what DCIP is invested in are community-led decisions. The decentralized voting platform creates transparency, a top priority for DCIP. Voting power is based on holdings. The more tokens held, the large the voting power. In addition, DCIP's investment horizon is not limited to cryptocurrency investments and offers the option for real-world investments. The community could choose to invest in real estate, for example. An individual's DCIP token balance directly represents their share of the voting power and cut of the profits or rewards from investments paid in either BNB or BUSD, which acts as passive income for token holders. The company plans to experiment with the voting frequency in the beginning. Voting will start with voting held every two days. The frequency will then be adjusted according to community feedback. DCIP also features punishment taxes that reward HODLing, applying a 7% tax on sales made within 24 hours of holding. Furthermore, an additional feature is the inbuilt anti-whale policy in the smart contract, setting a maximum transaction amount capped at 0.1% of the total supply. These two features offer strengthened safety nets compared to other cryptocurrency tokens. Coins must be held for at least 24 hours to benefit from redistribution. The initial supply of DCIP is 1,000,000,000,000,000 on-chain BEP20. Fifty percent of those tokens were burned at launch. Development and marketing were allocated 5.5% of the tokens, and 44.5% will be offered at the presale and private sale. The total running supply of DCIP is 445,000,000,000,000 tokens. Forty-two percent of the running supply will be offered in a private sale, 38% will be offered in presales, and 20% will go to PancakeSwap. Tokens in the private sale are subject to token lock for five months. Each month, 20% of the tokens will unlock. In order to ensure that $DCIP can be exchanged on PancakeSwap, each transaction will have a percentage that directly flows back to the liquidity on PancakeSwap. On each transaction, a percentage of that transaction will be burned. That decreases the total token supply, making the tokens more scarce. DCIP has a standard 10% standard tax. Three percent of the tax goes toward liquidity, 1% goes into the marketing wallet, 2% goes to the community investment wallet, 2% is burned, and 2% is redistributed to holders who have held for longer than 24 hours. There is a 7% punishment tax for swaps made within 24 hours. Four percent of the tax goes into the community investment wallet, 1% is burned, and 2% is redistributed to holders who have held longer than 24 hours. The main goal of DCIP is to give investing power back to ordinary individuals by decentralizing investments and removing the need for predatory hedge funds, investment bankers, and the like. The CEO and founder of DCIP, Mike van Rijsingen, has specialized in cryptocurrencies since 2013. "With the continuous evolvement of blockchain products, new opportunities will pop up for our platform; our investments are not bound to any chain, only the redistribution of the profit is bound to the BEP20 chain," said van Rijsingen. "Our goal is to take over traditional investments as we know them today, with no need for expensive hedge funds, investment bankers, or wealth managers. With DCIP, we will bring the power back to the people." DCIP will conduct its first-ever livestream talk show on August the 22nd and can be watched on twitch.tv/dcip_finance Guests and partners are invited to talk about the project. The Livestream will be held in a discontinued gold vault of the Royal Dutch Bank. For more information about DCIP, to buy now and to download their white paper, visit dcip.finance . Media Contact Details: Company : DCIP.finance Contact name : Mike van Rijsingen Email : mike@dcip.finance Related Images SOURCE: DCIP.finance View source version on accesswire.com: https://www.accesswire.com/660578/DCIP-Launches-the-First-IaaS-and-Fully-Decentralized-Investment-Fund-Token-on-the-Binance-Smart-Chain || A Busier Economic Calendar Puts the EUR, the Pound, and the Greenback in Focus: Earlier in the Day: It was a particularly quiet start to the day on the economic calendar this morning. There were no major stats for the majors to consider, leaving the markets to respond to the overnight inflation figures from the U.S. The Majors At the time of writing, the Japanese Yen was up 0.08% to ¥110.340 against the U.S Dollar, while the Kiwi Dollar was down by 0.09% to $0.7036. The Aussie Dollar was down by 0.07% to $0.7369. The Day Ahead For the EUR It’s another relatively quiet day ahead on the economic data front. Industrial production figures for the Eurozone will be in focus later today. In spite of some disappointing numbers from German last week, a fall would weigh on the EUR. At the time of writing, the EUR was up by 0.01% to $1.1740. For the Pound It’s a particularly busy day ahead on the economic calendar . Prelim 2 nd quarter GDP numbers are due out along with industrial and manufacturing production figures. Expect the 2 nd quarter GDP and manufacturing production figures to be the key stats of the day. Business inventory numbers and trade data are also due out but should have a limited impact on the Pound. At the time of writing, the Pound was up by 0.01% to $1.3870. Across the Pond It’s a relatively busy day ahead on the economic calendar. Wholesale inflation and weekly jobless claims will be the key stats of the day. In the wake of the impressive nonfarm payroll figures, a marked fall in claims would support a Dollar breakout. Inflation figures from Thursday have delivered some uncertainty for the markets on what lies ahead for the FED. An impressive fall in jobless claims would reignite talk of a near-term move by the FED. At the time of writing, the U.S Dollar Spot Index was down by 0.04% to 92.8880. For the Loonie It’s yet another particularly quiet day on the economic calendar. There are no material stats due out of Canada to provide the Loonie with direction. The lack of stats will leave the Loonie in the hands of market risk sentiment and the IEA’s monthly report on the day. Story continues At the time of writing, the Loonie was down by 0.06% to C$1.2512 against the U.S Dollar. 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: Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 12th, 2021 Natural Gas Price Prediction – Prices Slip Despite Emergence of Tropical Storm Fred A Busier Economic Calendar Puts the EUR, the Pound, and the Greenback in Focus EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – August 12th, 2021 GBP/USD Daily Forecast – Test Of Support At 1.3860 Bulls Moves Stall As Neuberger Berman Joins Bitcoin || Crude Oil Price Forecast – Crude Oil Markets Pull Back: WTI Crude Oil The West Texas Intermediate Crude Oil market has fallen rather hard during the trading session on Monday to break down a bit and suggest that we may be getting “a little toppy.” With that being said, I do think the market has plenty of support underneath, especially near the $70 level and the 50 day EMA as well. All things being equal, this is a market that I think probably offers a bit of value in the short term before traders come back in and try to pick things up. With the PMI figures in China being just above expansion, and shrinking, it is likely that the market will continue to worry about whether or not the demand will continue. Crude Oil Video 03.08.21 Brent Brent markets have pulled back significantly during the course of the trading session as well, as we are likely to go looking towards the 50 day EMA underneath. With that being said, the market will continue to be very noisy, and I do think that there are plenty of buyers underneath at my get involved. The $70 level underneath would be significant support more likely than not, and as a result I think we continue to consolidate and go sideways more than anything else. On the other hand, if we can break out to a fresh, new high it is likely that the market will go looking towards the $80 level. I am looking for an opportunity to pick up value, but it may need to wait a couple of days as the market continues to be very volatile. 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: NCR Makes Crypto Push With Key Bitcoin ATM Deal EUR/USD Price Forecast – Euro Reaches Towards Death Cross Google To Ditch Qualcomm And Develop Its Own Smartphone Processors This Year EUR/USD Mid-Session Technical Analysis for August 2, 2021 Crude Oil Price Forecast – Crude Oil Markets Pull Back Silver Price Daily Forecast – Silver Retreats Despite Weaker Dollar And Lower Treasury Yields || Crude Oil Price Forecast – Crude Oil Markets Pull Back: TheWest Texas Intermediate Crude Oil markethas fallen rather hard during the trading session on Monday to break down a bit and suggest that we may be getting “a little toppy.” With that being said, I do think the market has plenty of support underneath, especially near the $70 level and the 50 day EMA as well. All things being equal, this is a market that I think probably offers a bit of value in the short term before traders come back in and try to pick things up. With the PMI figures in China being just above expansion, and shrinking, it is likely that the market will continue to worry about whether or not the demand will continue.
Brent marketshave pulled back significantly during the course of the trading session as well, as we are likely to go looking towards the 50 day EMA underneath. With that being said, the market will continue to be very noisy, and I do think that there are plenty of buyers underneath at my get involved. The $70 level underneath would be significant support more likely than not, and as a result I think we continue to consolidate and go sideways more than anything else. On the other hand, if we can break out to a fresh, new high it is likely that the market will go looking towards the $80 level. I am looking for an opportunity to pick up value, but it may need to wait a couple of days as the market continues to be very volatile.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
• NCR Makes Crypto Push With Key Bitcoin ATM Deal
• EUR/USD Price Forecast – Euro Reaches Towards Death Cross
• Google To Ditch Qualcomm And Develop Its Own Smartphone Processors This Year
• EUR/USD Mid-Session Technical Analysis for August 2, 2021
• Crude Oil Price Forecast – Crude Oil Markets Pull Back
• Silver Price Daily Forecast – Silver Retreats Despite Weaker Dollar And Lower Treasury Yields || Bitcoin falls for fifth straight day as Gensler signals regulation coming: By Samuel Indyk
Investing.com – Bitcoin was lower for the fifth consecutive day on Wednesday, a day after the chair of the US Securities and Exchange Commission (SEC) called for more authority to regulate cryptocurrency trading.
Despite being an advocate for the technology underpinning Bitcoin and other cryptocurrencies, Gary Gensler said he wants to make sure the authorities have the power to protect investors.
“This asset class is rife with fraud, scams and abuse in certain applications,” SEC Chair Gensler remarked at the Aspen Security Forum. “We need additional congressional authorities to prevent transactions, products and platforms from falling between regulatory cracks.”
Some analysts believe that further regulation and oversight could actually be a positive factor for Bitcoin and other cryptocurrencies as it legitimises them as an asset class and may pave the way for further institutional investment.
Although Gensler said he wants to protect consumers, which in part may mean the SEC has oversight over cryptocurrency exchanges, Gensler appeared openminded to the idea of a Bitcoin ETF, which could help digital assets continue on their path to becoming a mainstream financial market asset.
Gensler saidthat he looks forward to the SEC’s review of filings for a Bitcoin ETF, particularly if those are limited to CME-traded Bitcoin futures.
Previously, the SEC has rejected approving a Bitcoin ETF amid concerns of potential market manipulation in the Bitcoin market.
The drop back below $40,000 and the 100-day moving average at around $39,600 could see the door open for a drop towards the 50-day moving average near $34,800. Before that, the $37,500-$38,000 area has acted as support in recent days, while the July 27th low near $36,500 could also be a key support level.
On the upside, the 100-day moving average and psychological $40,000 level will act as resistance before last week’s high around $42,500. A break above that level could bring the 200-day moving average at $44,750 back into play.
Speaking on the latest moves in Bitcoin, OANDA Senior Market Analyst Craig Erlam doesn’t foresee a larger decline.
“I'm not particularly concerned about the run of losses,” Erlam said. “The move feels like nothing more than a cooling off period and I would be surprised if the decline gathers any real momentum.”
“If risk appetite improves into the end of the week, I'd expect Bitcoin to surge once more and perhaps this is what we're waiting for.”
At 13:17BST, Bitcoin was trading around $38,100, down around 1% in the last 24 hours.
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Bingbon Partners with Paxful Expanding Fiat-to-Crypto Instruments || Billionaire Simon Nixon Bets On Crypto As Family Offices Pile Up Bitcoin: Seek Capital the family office of billionaire Simon Nixon is doubling up on its cryptocurrency investment efforts. What Happened: According to a Bloomberg report , Seek Capital's Managing Director Adam Proctor said that the firm plans to increase its allocation to crypto as we feel it is an important area for the future." To achieve this, the office is now looking to hire an analyst dedicated to the crypto market. Why It Matters: The interest in cryptocurrencies showed by family offices around the world has purportedly grown this year, despite Bitcoin's correction from the all-time highs that it reported a couple of months ago. That being said, Bloomberg also points out that Bitcoin rebounded more than 50% since the correction ending in mid-July, Ethereum (CRYPTO: ETH), Cardano (CRYPTO: ADA), and Dogecoin (CRYPTO: DOGE) also saw a resurgence. What Else: A recent Goldman Sachs Group Inc. (NYSE: GS ) survey found that nearly half of the family offices it does business with want to add crypto to their portfolio. These firms see cryptocurrencies as a possible hedge for higher inflation and prolonged low-interest rates. Furthermore, Mexican billionaire Ricardo Salinas Pliego purportedly revealed in November that a portion of his net worth is now in Bitcoin. Meanwhile, Michael Novogratz and Christian Angermayer's family office founded Cryptology Asset Group, which promised to allocate $100 million to crypto-related funds over the next two years. Price Action: Bitcoin was trading 3.36% lower, at $47,180 over the 24 hours. Read next: Microsoft Wins Blockchain Patent For Implementing Cross Chain Token Service See more from Benzinga Click here for options trades from Benzinga Binance Allegedly Seeks Government Funding Amid Regulatory Pressure, Aims For 0B Valuation US Is Leading Decentralized Finance Adoption Globally © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Ethereum 2.0: What Is It and Why Is It So Important?: Ethereumbegan as a spark in the eye of co-founder Vitalik Buterin’s back in 2013. That’s when he released the whitepaper for the project, though the Ethereum network wouldn’t see the light of day until 2015.
In between, there was the Ether sale in 2014, which is when early buyers could scoop up some of the now second-biggest cryptocurrency usingbitcoin. Back then, Ether fueled the Ethereum network as a payment method for transactions on the network, and years later it stills serves that purpose.
• PoW to PoS
• What Are the Problems With the Original Ethereum Protocol?
• What Is Ethereum 2.0?
• What Are the Benefits of Ethereum 2.0?
• What’s Taking So Long?
Ethereum was launched using theproof-of-work(PoW) consensus protocol, similar to Bitcoin. The PoW data essentially does two things:
• Allows computer nodes, which secure and guard the platform, to agree on the validity of the information published on the Ethereum network
• Thwarts any economic attack on the network
The PoW algorithm, however, is not perfect, and the flaws — including slow transaction times and hefty gas fees — became too big to ignore. The emergence of the Ethereum-based CryptoKitties game is a good example. The game, which introduced an early version of non-fungible tokens (NFTs), became so popular that it clogged the Ethereum network, delaying transactions and causing fees to skyrocket.
The rise of decentralized finance, orDeFi, is yet another use case that has underscored the importance of an efficient network. While the DeFi market has seen itstotal-value-locked (TVL) balloonsince catching on like wildfire in 2020, its growth has been stifled in some ways. Some developers have opted for other blockchains, while institutions have largely remained on the sidelines until the kinks are worked out. With greater scalability and more stable fees, Ethereum would likely disrupt traditional finance even more.
This is where Ethereum 2.0 comes in. In order for developers to avoid shooting themselves in the foot with their own innovation, they are building Ethereum 2.0. This is a massive upgrade of the existing network to one that is more scalable and could hasten the adoption of the blockchain among the mainstream.
Chief among the changes is a switch in the consensus protocol from PoW to proof-of-stake (PoS). Staking will lead to greater participation in securing the Ethereum network, which in turn will create a more decentralized blockchain.
The version of Ethereum that was introduced in 2015 was groundbreaking, but unprecedented demand for the network exposed some issues. These problems can be boiled down into three key areas:
• A clogged network: The blockchain became too crowded, which is not ideal when trying to attain global adoption. To maintain security, each and every computer node must verify transactions on the blockchain, which slows transaction times down.
• Insufficient disk space: As the Ethereum network grew more popular, it became increasingly difficult to run software known as nodes. The trick is to come up with a way to increase Ethereum’s size and power without compromising decentralization.
• High energy consumption: Ethereum’s power use to maintain the PoW consensus algorithm for network security is not sustainable for the long term.
The Ethereum team sought out to solve these issues while keeping the most important feature of the network intact: decentralization. Eth2 is the solution to achieving greater scalability and security without becoming a centralized network, though it is far from an easy task.
Now that we’ve established how far Ethereum has come, let’s take a look at where it is headed. Ethereum 2.0, which is synonymous with Eth2 and Serenity, is a major upgrade of the blockchain network. While it was not the first upgrade, it is the one that is designed to catapult Ethereum tototal-value-locked (TVL) balloon
It is a massive undertaking among the developers that will not happen overnight. Instead, Ethereum 2.0 is unfolding in a series of steps, the first of which occurred in the year 2020 with Phase 0, otherwise known as the Beacon Chain.
The Beacon Chain is an implementation of PoS that runs alongside the PoW network and is being battle-tested first. In August 2021, Ethereum completed a hard fork dubbed London, which introduced greater stability to gas fees on the Ethereum network and presented a deflationary model to the protocol’s monetary policy. With every phase comes new functionality and enhanced performance that will ultimately lead to the destination of Ethereum 2.0, a PoS network.
Ethereum 2.0 will deliver a host of key benefits that are likely to attract even more developers to the network. The three key improvements include:
• Greater scalability: Ethereum must be able to support thousands of transactions per second (TPS) for applications built on the network with greater speed and cheaper fees. The one-two punch of sharding and a PoS algorithm is expected to create greater scale thanks to the addition of more nodes, resulting in higher TPS without using more electricity.
• Greater security: Ethereum must be as secure as possible to thwart attacks so that users including institutions will feel comfortable using it. The aforementioned Beacon Chain is designed to help with network security.
• Greater sustainability: A lesser carbon footprint has become a major theme in the cryptocurrency industry. The PoW consensus algorithm consumes a great deal of energy. Ethereum 2.0 will be better for the environment as there will be no more mining involved. According to Ethereum Co-Founder Vitalik Buterin, whose vision for Ethereum is outlined in the below graphic, Ethereum’s energy consumptionwill be diminished“by a factor of more than 1,000” with PoS.
Ethereum 2.0 comprises three separate upgrades, each of which is a monumental task in its own right.
• Beacon Chain: Launched in 2020, this technology introduced staking to the network and paved the way for future upgrades. While the Beacon Chain is in testing mode, it is live and will eventually be the cornerstone of Eth2.
• Merge: The Ethereum merge is expected for either late 2021 or sometime in 2022. This is where the Beacon Chain will be combined with Ethereum’s mainnet and it will make staking on the Ethereum blockchain a reality while marking an end to mining.
• Shard Chains: This represents the splitting of the Ethereum network, which will occur in phases will result in a greater capacity for processing transactions and storing data. Sharding chains are planned for 2022.
Ethereum is one of the biggest cryptocurrencies, second only to bitcoin. The transition to Eth2 is a major series of events that solve the issues plaguing the network and could potentially lead to wide-scale adoption of the blockchain while potentially strengthening the Ether price in the interim.
Thisarticlewas originally posted on FX Empire
• Ethereum 2.0: What Is It and Why Is It So Important?
• What are Real Yields?
• Saudi Aramco, World’s Largest Energy Company, Earns $25.5 billion in Q2
• The Week Ahead – Economic Data, Central Bank Chatter, and COVID-19 in Focus
• U.S Mortgage Rates Fall Once More as Concerns over COVID-19 Peg Back Yields
• E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – No Threat to Strong Uptrend at This Time || Tuesday's Market Minute: Bitcoin Blasts Off: Bitcoin futures surged more than 16% yesterday on high volume, with intraday prices ranging from below 30,000 to above 40,000 within only four trading days. Even in light of what we’ve grown to expect from the cryptocurrency product, this is still the type of impressive volatility that potentially makes for some major opportunities. The /BTC contract went from trading below its 50-Day Simple Moving Average, 200-SMA, 21-Day Exponential Moving Average, and 252-EMA to closing above them all within this same four-day range.
This rapid, strong close above these important moving averages would typically be regarded as bullish, with the 64-EMA near 38,306 as the next source of possible resistance. As for other technical developments, /BTC’s monster close yesterday triggered a bullish PSAR crossover as well as a close above the upper Bollinger Band, both of which are viewed as bullish, as well as a MACD that shows bullish momentum heating up. Despite the recent action, Bitcoin still needs to make a convincing close above its mid-May highs near 40,000 and its 64-EMA to continue its uptrend, otherwise, watch for another test of the range that’s forming with 30,000 as the lower end.
Image byMichaelWuenschfromPixabay
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bluesky Digital Assets Corp., Provides Bitcoin and Ethereum Mining Update, $316,500 CDN Mined in July 2021: Toronto, Ontario--(Newsfile Corp. - August 12, 2021) - Bluesky Digital Assets Corp., (CSE: BTC), (CSE: BTC.PR.A), (OTCQB: BTCWF), ("Bluesky" or the "Corporation") announced today that the Corporation had mined an implied and combined unaudited total of $316,500 CDN worth of cryptocurrencies for the month of July which was achieved via the mining of 3.35 Bitcoin ("BTC") and 65.23 of Ethereum (ETH). The implied valuations of the BTC amounted to $142,545 CDN and the ETH amounted to $173,955 CDN for the month. The Corporation averaged a daily mining rate of approximately 2.10 ETH and 0.11 BTC per day. The percentage split on mining was 45% BTC and 55% ETH. For further clarification, implied valuations are based on the booking price of the virtual associated crypto currency value at the time the mining reward is realized by the Corporation from its mining activities. Costs associated in the mining of the 3.35 BTC and 65.23 ETH for the month of July amounted to approx. $65,000 CDN. The Corporation averaged $10,200 CDN per day in mining revenue in July of 2021 vs. $2,200 CDN mined per day in July of 2020 which represents an increase of 363%. The Corporation averaged $7,815 CDN per day in mining in Q1 of 2021 and $9,465 CDN per day in Q2 of 2021. The July daily average represents an increase of 30.5% over Q1 2021's daily average and a 7.7% increase over Q2 2021's daily average. As at July 31, 2021, the Corporation held 5.73 BTC and 138.50 ETH in cryptocurrency reserves. Bluesky expects to deploy additional mining assets throughout 2021 and beyond, further updates will be forthcoming. Ben Gelfand, CEO stated: "We have always strategically maintained a diversified mining focus through a balanced mining approach on mixed virtual crypto currencies such as Bitcoin and Ethereum. Additionally, we have taken a staged approach to deploying assets and capital, this approach allows us to adapt and pivot to changes in the market and better protect against market volatility while maximizing returns. We are very pleased to see our strategy pay off and look forward to the continued expansion of our operations." Story continues About Bluesky Digital Assets Corp. Bluesky Digital Assets Corp, is building a high value digital currency enterprise. Bluesky mines digital currencies, such as Bitcoin and Ether, and is developing value-added technology services for the digital currency market, such as proprietary technology solutions. Offering a complete ecosystem of value-creation, Bluesky is targeting reinvesting appropriate portions of its digital currency mining profits back into its operations. A percentage of the profit will be invested in the development of a proprietary Artificial Intelligence ("AI") based technology. Overall, Bluesky takes an approach that enables the Corporation to scale, and respond to changing conditions, within the still-emerging Blockchain industry. The Corporation is poised to capture value in successive phases as this industry continues to scale. For more information please visit Bluesky at: https://www.blueskydigitalassets.com For further information please contact: Mr. Ben Gelfand CEO & Director Bluesky Digital Assets Corp. T: (416) 363-3833 E: ben.gelfand@blueskydigitalassets.com Mr. Frank Kordy Secretary & Director Bluesky Digital Assets Corp. T: (647) 466-4037 E: frank.kordy@blueskydigitalassets.com Forward-Looking Statements Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward- looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release. We seek safe harbor. - 30 - To view the source version of this press release, please visit https://www.newsfilecorp.com/release/92918
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: up || Prices: 43574.51, 44895.10, 42839.75, 42716.59, 43208.54, 42235.73, 41034.54, 41564.36, 43790.89, 48116.94
|
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 2018-11-02]
BTC Price: 6388.44, BTC RSI: 44.03
Gold Price: 1230.90, Gold RSI: 56.99
Oil Price: 63.14, Oil RSI: 25.90
[Random Sample of News (last 60 days)]
Is Crypto Market Bottoming Out? Bitcoin Shows Stability at $6,500: Earlier this week, the crypto market seemed to be initiating a strong corrective rally, as Bitcoin breezed past $6,500.
However, in the past 24 hours, the crypto market demonstrated a slight decline in value from $204 billion to $198 billion, as small market cap cryptocurrencies and tokens struggled to maintain momentum.
While the crypto market eventually recovered to $202 billion, the price movement of major cryptocurrencies on September 15 showed that the market is undergoing a bottoming out process, demonstrating volatility in the low price range.
AsCCN reported, billionaire investor Mike Novogratz stated on September 14 that the crypto market has already reached a bottom at the $186 billion mark and is ready to initiate a new mid-term rally.
“This is the BGCI chart. I think we put in a low yesterday. retouched the highs of late last year and the point of acceleration that led to the massive rally/bubble… markets like to retrace to the breakout..we retraced the whole of the bubble,” Novogratz said.
Similar technical indicators have shown highly oversold conditions for the crypto market, suggesting that in the upcoming days, as long as the volume of the market can be maintained, a rally is due.
But, as seen in February, April, June, and August, an abrupt increase in the price of Bitcoin is not beneficial for the market. It is important for major cryptocurrencies to properly bottom out and stabilize in the low price range before gradually increasing in value and volume.
Luke Martin, a widely recognized technical analyst in the cryptocurrency sector, stated that the next resistance level for Bitcoin is at around $6,900, based on the trend of BTC since early 2018.
Martinexplained:
“Pattern of the BTC bounces from $6,000 lows this year. Each subsequent bounce has been weaker taking us to the 61.8% fib retracement level of the move down. (first bounce only a 50% retrace) 61.8% retrace of most recent drop puts BTC resistance $6,940.”
If Bitcoin can continue to remain stable in the mid-$6,000 region, it is likely that BTC surpasses the $6,900 mark in the short-term. But, if th volume of Bitcoin declines below $3 billion and the rest of the market struggles to regain momentum, it is also possible that BTC remains in the $6,400 to $6,500 range.
Throughout the past week, tokens have continuously shown oversold conditions, recording large losses against BTC apart from September 13 when tokens like ICON, 0x, and BAT recorded relatively large gains.
While the performance of tokens largely depend on the momentum of BTC, as long as BTC moves towards the $6,900 resistance level in the upcoming days, which is likely given the trend of the market since February, a strong performance by tokens is expected.
Nano, Maker, Decentraland, and 0x demonstrated gains in the range of 5 to 10 percent against BTC, while the majority of tokens in the market demonstrated stability in their low price range.
The postIs Crypto Market Bottoming Out? Bitcoin Shows Stability at $6,500appeared first onCCN. || Bitcoin $7,300 the Line in the Sand for the Bulls: Bitcoin slipped by just 0.47% on Monday, partially reversing Sundays 1.43% gain, to end the day at $7,265.7, the trend of Monday losses resuming after having managed to kick off the previous week on the front foot. In line with the broader market, Bitcoin slipped from a start of a day morning high $7,324.8 to an early morning intraday low $7,200 before finding support, the early reversal seeing Bitcoin steer clear of the days first major support level at $7,147.27. Support through the late morning and early afternoon led Bitcoin through to an intraday high $7,369, the days high coming within reach of the 38.2% FIB Retracement Level of $7,376 before pulling back. Selling pressure at the 38.2% FIB Retracement Level continues to pin Bitcoin back from more material gains, with a late in the day reversal seeing Bitcoin slide back to $7,200 levels to leave the extended bearish trend intact. The lack of a major move through the day left the broader market on the defensive, in spite of the news wires being relatively quiet on the regulatory front, investors locking in profits at the start of the week in anticipation of more regulatory chatter through the month. While the news wires were on the quieter side, the latest CFTC Commodity of Traders report showed that there was a reversal in the previous weeks rise in long positions, with long positions falling from 2,160 to 1,974, to give the bears a stronger grip, short positions rising from 3,426 to 3,446 according to the latest available report released on 31 st August for data as at 28 th August. We can expect Bitcoin and the broader market to respond to the month end numbers once released, with any bounce back in the longs supporting another run at the 38.2% FIB Retracement Level of $7,376 and the beginnings of a near-term bullish trend. Get Into Cryptocurrency Trading Today At the time of writing, Bitcoin was up 0.21% to $7,282.7, with Bitcoin recovering from a dip to a morning low $7,255.4 to strike a morning high $7,298.5 before easing back, with resistance at $7,300 continuing to be a hurdle for the Bitcoin bulls following Mondays moves. Story continues While failing to break back through to $7,300 levels, leaving the days first major resistance level at $7,356.47 untested, the morning low also saw Bitcoin steer clear of the days first major support level at $7,187.47. For the day ahead, holding above $7,278.23 would support another run at $7,300 levels to bring the days first major resistance level at $7,356.47 and the 38.2% FIB Retracement Level of $7,376 into play, though for Bitcoin to break out from the first major resistance level, the release of Fridays CFTC long and short positions will need to be favourable. Failure to hold above $7,278.23 through the morning could see Bitcoin hit reverse later in the day, with a pullback through the morning low $7,255.4 bringing sub-$7,200 levels and the days first major support level at $7,187.47 into play, with a further slide on the cards should short positions rise further, which could see Bitcoin test the days second major support level at $7,109.23 before any recovery. {alt} This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Forecast Gold markets continue to be choppy AUD/USD Price Forecast Australian dollar rallies to kickoff week EUR/USD Daily Price Forecast EUR/USD Moves Range Bound on Italian Uncertainties As US Holiday Kept Volume Thin On Monday GBP/USD Daily Price Forecast GBP/USD Moves Downwards As Brexit Deal Faces Pressure from Both Sides Crude Oil Price Forecast crude oil slightly positive in sin trading S&P 500 Price Forecast stock markets closed but futures rally || Crypto M&A: Stellar buys Chain: Chain, one of the hottest blockchain startups, has sold to Lightyear, the commercial arm of the Stellar Development Foundation, which is the nonprofit behind the Stellar network and cryptocurrency stellar lumens. That may sound like a mouthful. It may also look like a surprising move for a fast-growing company that counts Citigroup, Nasdaq, and Visa among its clients. As Chain CEO Adam Ludwin acknowledges about Lightyear, “ We are being acquired by an entity that no one has ever really heard of.” But in a candid interview with Yahoo Finance, Ludwin explained the strategy behind selling the company. (Read on for the interview, after some background on Chain and Stellar.) Chain builds private blockchains for enterprise clients — internal ledgers that allow them to digitize assets faster and with less friction. Chain launched in 2014 and has raised $44 million in venture funding. Stellar is a blockchain protocol for facilitating cross-border payments and digital asset exchanges, and lumens ( XLM ) is the network’s native cryptocurrency. (The price of XLM is down 65% so far this year amidst the larger crypto market rout .) Stellar was incubated at the payments startup Stripe, then spun out; IBM, Deloitte, and messaging app Kik are some of the bigger names using Stellar . In the race to get banks on blockchain, Stellar competes with Ripple , among many others. And the same man created both Stellar and Ripple: Jed McCaleb, who also cofounded the infamous bitcoin exchange Mt. Gox. Lightyear and Chain will combine and be called Interstellar; the Chain branding will go away. Interstellar will focus on helping companies build on top of the Stellar network. Ludwin will be CEO of Interstellar, McCaleb will be CTO, and all of Chain’s 30 employees are staying, totaling 60 Interstellar employees. The parties are not disclosing the terms of the deal, but Chain’s investors are all getting cashed out. Chain CEO Adam Ludwin spoke to Yahoo Finance by phone before the announcement of the acquisition. What follows is an edited transcript. Story continues Chain CEO Adam Ludwin speaks at The Economist’s Finance Disrupted conference in New York on Oct. 13, 2016. (Michael Nagle, Bloomberg/Getty) Yahoo Finance: Are people going to be surprised that Chain, which is a hot company in the crypto and blockchain world, is selling to a company that isn’t really a household name? Adam Ludwin: Lightyear is relevant because it was set up last year to be the commercial arm for the Stellar network. As more institutions have been interested in transacting in stellar, the foundation was not positioned to do that kind of work. So we are going all in on Stellar, and we will do that enterprise work, the hand-holding, the service providing. How long has this been in the works? There have been reports and rumors of this acquisition for a few months. We started talking as far back as January. We did our absolute best to prevent any information leaking, and it’s hard because it’s such a small community, and we have so many investors. There were some leaks, and some things published on the internet with wrong information, like people wrote that we were merging with the foundation. How did it come about? Jed McCaleb came to me and told me the idea, and his idea was to basically do what Chain has done but focus on Stellar. So basically Chain retools through Stellar. He probably thought I would say no very quickly, but what he didn’t know at the time was that we had learned that what our customers ultimately need is for us to bring them to a network. We found that they wanted to just be told what network to join. Any fellow tech types or mentors you went to for advice? There were four or five folks that I consulted with that I often turn to for coaching, mentorship, strategic advice. Kevin Ryan [cofounder of Business Insider, Gilt Groupe, and MongoDB]. Glenn Hutchins of [VC firm] Silver Lake. Jim Robinson of RRE Ventures, former CEO of American Express. And Keith Rabois [early investor in PayPal, Yelp, and Square].The four of them were extremely helpful. Are you concerned that any of your existing clients, or potential new clients, will be turned off that you’re now tied to this lesser-known cryptocurrency, stellar lumens? I did something kind of unusual in the M&A process, which is I went to existing customers and told them what we were considering. I basically said, ‘We think the answer for your needs is Stellar, and by the way, we’ve figured out a way to create an entity where Chain can do that.’ If people threw up all over Stellar, I wasn’t going to do it. The only version of pushback I got were folks saying, ‘Does this mean we have to use Stellar?’ And the answer to that was no, because where Stellar ends, Chain software begins. Everything Chain built is a local ledger, and think of Stellar as a global ledger. So part of the merger was combining our software assets with theirs. The network can be acquiring future users without forcing them to participate in the stellar network on day one. What would you say is the general perception of Stellar? I think the perception is not far off from the reality, which is that this is one of the most technically advanced networks. The academic community knows Stellar and has a respect for Stellar because the protocol was developed at Stanford, and people know the foundation came out of Stripe. And I think if you look forward to what we think Stellar is best suited to accomplish, what has been the killer app on Ethereum? It’s a general, trustless cloud platform. But what people have chosen to do on it is issue tokens. That’s what Stellar is designed to do, that is its purpose. Tokenization is the biggest unrealized opportunity around crypto. We are setting out to tokenize all the things, and to move from the scammy ICOs that we wouldn’t want to be associated with to finding partners to create tokens uniquely enabled by Stellar and which can be an important part of their business model. So it won’t be just about legacy products with financial institutions, it’ll also be about companies creating and enabling totally new assets where you can kind of squint and it might look similar to some other things, like a reward ticket or loyalty point or an API token or an in-game currency or a digital good, but they’re all fundamentally being reinvented in this era of crypto. What would your retort be to any skeptics who still criticize this deal when the news comes out? I don’t care. We never in the history of the company made any strategic moves based off our perception of what people will think. We’ve always made moves based on what we’ve learned. And if you go to the original business plan for Chain, the original motivation was: Bitcoin has set off this Cambrian explosion, and eventually every single financial instrument that exists will be in some sort of cryptographic medium. Whether that’s attached to bitcoin, whether that’s some other network, the motivating force was that we want to create a future where value can move over the internet as easily as data. Warren Buffett has that expression he likes from Ben Graham, “Mr. Market.” [Note: Ben Graham introduced the Mr. Market anecdote in his book “The Intelligent Investor”; the idea is that the market behaves like an emotional business partner who offers every day to sell you his shares of the business or buy yours, at prices depending on his mood.] Crypto markets are like an extreme version of Mr. Market. In the short term, it’s meme-driven . So if you tried to make decisions on the basis of headlines, market perception, mood, crypto prices, you would just go nuts. And it doesn’t tell you what to build. Our company has millions of dollars in revenue, we’ve raised tens of millions of dollars, and before doing this deal we had years of runway and still do. We in no way needed to sell, and we have received overtures from large tech brands over the years. And I think that would have been sad, if we just sold out to a big enterprise tech company and became a division, and didn’t have the ability to shape the future. So even though this is technically an acquisition of Chain, in reality Jed and I are combining. C onceptually, it really is a merger, and it doesn’t feel like an exit, and it’s not designed to be an exit where I go and hang out for a year and then I go do something else. And I hope this announcement will encourage folks to take a longer look at Stellar. — Daniel Roberts covers cryptocurrency and blockchain at Yahoo Finance. Follow him on Twitter @ readDanwrite . Read more: Crypto market crash prompts people to post suicide hotline on Reddit Exclusive: Former FBI director Louis Freeh talks Tether investigation Bitcoin VC: ‘People are going to lose a lot of money’ on new coins Beware: An ICO is not like an IPO The 11 biggest names in crypto right now || OTCQX Vs OTCQB Vs Pink: Understanding OTC Markets' Different Tiers: More than 10,000 U.S. and global equities, ranging from large international companies to community banks, trade on the over-the-counter market. The types of companies and industries vary greatly with so many securities.
Over the past 11 years, OTC Markets Group, operator of the over the counter equities markets, has organized this market into a tiered system based on the quality and timeliness of information a company has disclosed.
The goal of organizing by tiers, according to Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group, was to help investors better understand the array of companies that trade here and the corresponding risks. And to provide a way for reputable U.S. and international companies to distinguish themselves by the quality of their disclosure and rigorous requirements.
“Adding structure helps investors better understand the market,” he said. “You can look at a OTCQX company like Roche and see that it is a transparent, financially sound company. That profile may be very different for a security traded on the Pink market, where flags help investors easily identify potentially higher risk. We’re focused on using data and disclosure to create a transparent, high-performing trading market where established companies can leverage a cost-effective, less burdensome alternative to a stock exchange listing.”
Here’s how that system works:
OTCQX
The OTCQX Market is the top tier, with the most stringent entry requirements. According to OTC Markets, companies trading on OTCQX must “meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and have a professional third-party sponsor introduction.”
More specifically, these companies must meet areporting standardin terms of how they report financial information. They must also have a board of directors with at least two independent directors, an audit committee that conducts annual financial audits, have annual shareholders meetings and release annual financial reports 15 days prior to each meeting.
Companies that are penny stocks, shells, or are in bankruptcy are excluded from trading on this tier.
Over 400 companies trade on OTCQX, including Swiss pharmaceutical conglomerateRoche(OTCQX:RHHBF) (OTCQX:RHHBY) (OTCQX:RHHVF), the French global communications companyPublicis Groupe S.A.(OTCQX:PUBGY) (OTCQX: PGPEF) and Grayscale’s Investment theBitcoin Investment Trust(OTCQX:GBTC).
OTCQB
The middle tier of OTC Markets – OTCQB – is known as The Venture Market. Companies that trade on this tier are in their early stages, and therefore, may not be able to meet the financial or regulatory requirements required by the exchanges or OTCQX.
To be eligible for OTCQB, companies must be current in their financial reporting, undergo an annual verification and management certification process, and have a bid price of at least $0.01. They also cannot be in bankruptcy. Over 900 companies trade on the OTCQB Market.
Pink
The Pink Open Market provides brokers a platform for transparent trading in any security. The widest spectrum of companies trade on the Pink Market, including those that are bankrupt or not current in their disclosures with the SEC or their home country exchange.
OTC Markets is a content partner of Benzinga
See more from Benzinga
• The Most Actively Traded Over-The-Counter Stocks In September
• Netflix Who? 3 Media Stocks That Look Like They're Back In Favor
• The ABCs Of The OTC Markets
© 2018 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Could CenturyLink, Inc. Be a Millionaire-Maker Stock?: Income investors know the highs of owningCenturyLink(NYSE: CTL). Shares of the second-largest U.S. communications provider to global enterprise customers are yielding an eye-popping 10.9% at the moment. Growth investors know all about the lows. The stock has moved lower for three consecutive years, shedding 58% of its value in the process before accounting for the chunky distributions.
Things are playing out differently this year. CenturyLink is making headway in the integration of the$25 billion Level 3 Communications acquisitionthat it completed last year. CenturyLink jacked up its outlook for adjusted EBITDA and free cash flow for all of 2018 at the time of itssecond-quarter reportnearly three months ago. After three years of pain, it seems as if CenturyLink is finally satisfying income and growth investors. The next big test will come next week when CenturyLink steps up with its third-quarter financials.
Image source: CenturyLink, Inc.
Analysts see CenturyLink checking in with $5.88 billion in revenue for the third quarter, 46% ahead of where it was a year earlier. Pinch yourself. This may be the third quarter in a row that CenturyLink's top line lands at least 40% ahead of a year earlier, but this is just Level 3's contribution padding top-line results when pitted against the prior year's reported financials. The results will be far less impressive on a pro forma basis.
Combined revenue declined 2% in CenturyLink'sprevious quarter, a more realistic comparison than the 44% year-over-year pop. There was a slight dip from its business and consumer segments. Flattish pro forma results won't be a deal breaker -- especially if CenturyLink is cashing in on synergies to help prop up its bottom line -- and that's where CenturyLink will have to earn its keep. Adjusted earnings are expected to clock in at $0.30 a share in next week's report. CenturyLink routinely fell short of Wall Street profit targets during the stock's slide from 2015 through 2017, and it's probably not a coincidence that the shares ascending this year are on the heels of CenturyLink beating analyst bottom-line forecasts in back-to-back quarters coming into next Thursday's report.
There is naturally room for improvement. CenturyLink's dividend has been locked at $0.54 a share since 2013, but you have to go all the way back to 2010 to find the last year that it earned more than its payout, according to data provided byS&P Global Market Intelligence. A dividend hike isn't coming anytime soon, but profitability will have to keep improving for the current distributions to remain sustainable.
CenturyLink also announced that its CFO was moving on last month. Sunit Patel resigned after accepting a position atT-Mobileto head up its merger and integration division, a smart call given CenturyLink's success at injecting Embarq, Qwest, and now Level 3 into its bloodstream. Wall Street was generally fine with the move, and Scott Goldman at Jefferies put out an encouraging note after speaking to the interim CFO. The cost-cutting playbook isn't likely to change, but we'll see what CenturyLink has to say next week.
There are still more than a few unknowns, so we can't tag CentryLink as the next millionaire maker. Revenue growth will need to eventually move in the right direction to woo back growth investors, and improving its bottom line is essential to keeping income investors satisfied. The good news is that CenturyLink is showing signs of turning the corner, something that lesser regional telcos have failed to do.
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Rick Munarrizhas no position in any of the stocks mentioned. The Motley Fool recommends T-Mobile US. The Motley Fool has adisclosure policy. || Bitcoin Mining Giant Bitfury Trims Cooling Demands by 95% with ‘Magic’ Liquid: With cryptocurrency markets struggling,Bitfury Grouphas immersed its mining equipment in a non-conducive liquid to reduce costs at its 40-megawatt mining plant in Tbilisi, Georgia, as it races to mine the remaining 21 million mineable bitcoins.
The company’s investment in cooling technology signals the extent cryptocurrency miners are going to chill their energy-intensive computers, according toBloomberg. Some have moved operations to Siberia and submerged them in oil, while one went as far as burying its rigs beneath the Eurasian steppe.
At a July visit to Bitfury’s Tbilisi site with a view of the Caucasus Mountains, Bloomberg witnessed 160 mining cooling tanks with extensively engineered fluid. The company is using a liquid from 3M Co. called Novec, which has been used to draw water from the desert and contain auto racing fires.
Valery Vavilov, Bitfury CEO, noted that the cooling technology reduces both space requirements and energy consumption. He said the mining activity remains profitable and the company is upbeat about bitcoin’s long-term prospects.
The cooling system reduces the amount of space required for mining by a third, according to Kar-Wing Lau, founder of Allied Control, a cooling system provider Bitfury acquired. Bitfury also believes there will be demand for the technology from urban cloud computing providers.
Bitfury has made the Republic of Georgia, located between Europe and Asia, the world’s second largest cryptocurrency mining region after China, driven by cheap energy, inexpensive land and government tax incentives.
In enhancing the region’s cryptocurrency prominence, Bitfury has become a player in Georgia’s politics. The company owns the property housing its expanding data center, and it has used its leverage to secure agreements for certain blockchain services,including facilitating Ukrainian elections.
Remi Urumashvili, Bitfury’s Georgia representative, noted that he was instrumental in advising the company it would have zero taxation when Vavilov visited the country in 2013. Two weeks later, the company announced plans to open a data center.
Also read:Bitfury inks ‘biggest blockchain government deal ever with Ukraine
When Bitfury sold its mining facility before repurchasing it at a discount, some claimed that one of the company’s backers, Georgia ex-Prime Minster and billionaire Bidzina Ivanishvili, profited from the sale and stuck taxpayers with the cost of the incentives. Ivanishvili’s political opponents examined the facility’s energy costs.
Legislators have also sought an investigation of Ivanishvili’s connection to a Georgia politician’s son who was indicted in a hack in the U.S. that involved an unlawful bitcoin exchange. The fund’s CEO, George Bachiashvili, said he did not know of an investigation, while the prosecutor did not respond to a comment request.
Bachiashvili said politics played no role in the decision to sell the facility. He said the company was looking to profit from high cryptocurrency prices at the time.
Bitfury noted in February it signed an agreement on Richard Branson’s private resort in the Caribbean to sell the facility to a Hong Kong fintech firm before repurchasing it. Yew Kiat Phang, CEO of Chong Sing Holdings in Hong Kong, said he met George Kikvadze, Bitfury’s deputy chairman, and Vavilov at Branson’s British Virgin Island’s resort in 2015. He later sold the facility as he sought to mitigate his risks.
Featured image from Shutterstock.
The postBitcoin Mining Giant Bitfury Trims Cooling Demands by 95% with ‘Magic’ Liquidappeared first onCCN. || Twitter Locked Elon Musk’s Account after ‘Buy Bitcoin’ Tweet: Twitter took the unusual step of locking Elon Musk’s account yesterday after the billionaire Space X and Tesla founder posted a lighthearted tweet asking a follower if they would like to buy bitcoin. Revealing this in a tweet posted earlier today, Musk said: Twitter thought I got hacked & locked my account haha — Elon Musk (@elonmusk) October 23, 2018 CCN reported yesterday that Musk made the tongue-in-cheek quip about offering bitcoin for sale in response to a question from a follower about whether Tesla accounts would soon begin utilising 2-factor authentication for added security. The joke was made in reference to the 2-factor authentication security protocol commonly deployed by crypto trading platforms like Coinbase and Circle , but Twitter apparently did not see the funny side of it. His account was temporarily locked on suspicion of being hacked while the platform investigated and eventually unlocked it. Elon Musk and Twitter Over the past few months, Musk has faced a series of controversies linked to his activity on Twitter. His declaration that he could take Tesla private for $420 a share which he made on Twitter ultimately landed him in trouble with the SEC, leading to a $20 million fine and an order to step aside as Tesla chairman for at least 3 years. He also famously got into a war of words with a diver involved in the Thai cave rescue, describing him as a paedophile – an action that led to legal action on the part of the diver. Earlier in October, following the settlement of his case with the SEC, Musk also took a dig at the agency, describing it as the “Shortseller Enrichment Commission”. Just want to that the Shortseller Enrichment Commission is doing incredible work. And the name change is so on point! — Elon Musk (@elonmusk) October 4, 2018 A number of people, ranging from Tesla investors to fellow billionaire Richard Branson have publicly urged Musk to stop tweeting, believing that his sometimes erratic behaviour on the platform could have a significantly negative investment impact on them. Indeed, it is estimated that his tweet that originally drew the SEC’s attention ultimately led a Tesla share price loss of more than 10 percent in the space of just one day. His followers however generally like engaging with him on the platform and he currently has more than 20 million mostly millennial followers, making him one of the most influential tech personalities on social media. Against this backdrop, Twitter is understandably keen to avoid having his account being used as a megaphone by cybercriminals promoting shady investments or crypto giveaway scams. CCN reported in May that the Vertcoin ICO’s twitter account was successfully hijacked by criminals promoting a fraudulent crypto giveaway scheme, and since then several celebrities have been targeted either by hijackers or by botnets using account cloning techniques. The post Twitter Locked Elon Musk’s Account after ‘Buy Bitcoin’ Tweet appeared first on CCN . || Hong Kong Startup to Battle Revolving Credit with Asia’s First Crypto Visa Debit Cards: Industry startup Crypto.com, formerly ‘Monaco’ before a rebrand, has revealed its plan to issue 100,000 Visa-powered cryptocurrency debit cards in Hong Kong and Singapore.
The Hong Kong startup confirmed that it would pit its debit cards against the insecure revolving credit practiced by mainstream credit card issuers, as reported by theSouth China Morning Post. Kris Marszalek, Crypto.com’s founder and chief executive officer, referred the line of credit practice as “unethical,” which unjustifiably allows banks to make profits from undeserving people.
“These people should not be given a credit card in the first place,” said Marszalek.
The availability of credit when needed is known to be one of the main advantages of Revolving Credit. However, it also influences credit card users to spend more than they afford. Non-payments – or even late payments – can trap borrowers into the maze of compound interests. Also, Revolving Credit allows banks to keep loan rates unhinged, and rights to change credit limits and interest rates at will.
Projecting Crypto.com’s crypto-enabled debit cards as a viable solution, Marszalek revealed that they would offer money lending services to their crypto-card holders. The business model will reject revolving credit practice by choosing to lend fiat money by collateralizing cryptocurrencies. People will only be able to borrow 40-60 percent of their pledged cryptocurrency in fiat money. The method also means that Marszalek would not rely on borrower’s credit scores like its traditional counterparts.
“Crypto.com would only face the risk from volatility in the value of the bitcoin and MCO pledged as collateral,” he said.
Crypto.com has applied for money lending license in the countries it is expanding to, starting with Hong Kong and Singapore. Once approved, Marszalek expects Crypto.com to disrupt the credit card history – once for all.
Crypto.com claims that their Visa-powered debit cards would allow an easy switch between cryptocurrencies and fiat, thereby making cryptocurrency accessible to more users and improving the overall liquidity. The company currently supports five cryptocurrencies – Bitcoin, Litecoin, Ethereum, Binance Coin and their very own institutionalized currency, MCO – convertible to a total of seven fiat currencies, including Hong Kong Dollar, Singapore Dollar, and the US Dollar.
The real challenge, however, is to make crypto debit cards more attractive than traditional cards. In its current format, users accuse crypto debit cards of charging an absurd amount of middlemen-induced fees for their services. Furthermore, the underlying volatility of the crypto-market makes it impractical for end-users to use it as a regular payment medium.
Crypto.com currently offers cash backs, lower exchange rates, feasible ATM withdrawal limits, and many other attractive services with its range of debit cards. The company plans to include cryptocurrency trading services and an automated cryptocurrency buying and selling service into its portfolio in the near future.
Featured image from Shutterstock.
The postHong Kong Startup to Battle Revolving Credit with Asia’s First Crypto Visa Debit Cardsappeared first onCCN. || Green Energy Bitcoin Mining Will Have Insignificant Environmental Impact: As the Bitcoin network grows, so too does the concern around its environmental impact, and with good reason. Bitcoin consumes more electricity than the entire island of Ireland, and that power consumption is set to steadily rise in the coming years. Beyond the electricity required to run the network, there are the materials required to make ASIC miners and GPUs as well as air conditioning, etc. So what does this mean for planet Earth? Is Bitcoin a godsend or an environmental disaster? The person with all the answers is Hass McCook, a civil engineer as well as a Bitcoin researcher and advocate who has done the deepest investigation into Bitcoins energy requirements thats ever been carried out. His recent 39-page report which was continued from his 2014 research which revealed the following findings: McCooks new 39-page report is a thorough exploration of the subject matter with updated info. He also has a ten-part Youtube series explaining his findings. McCook spoke to CCN about the environmental impact of Bitcoin and the future of money. What led you to become interested in the environmental impact of Bitcoin? Would you describe yourself as an environmentalist? What got me interested in my original career in Civil Engineering, was that I naively believed that physical infrastructure was the key to delivering economic justice and empowerment to the bottom of the pyramid. From basic water and sanitary needs, all the way to highways, airports, and railroads the Civil Engineer contributes towards keeping us civilized and surviving. But infrastructure comes at an environmental cost. Of which I know quite well through professional experience and study. Now for the part about Bitcoin! I believe that it is the only form of infrastructure, physical or digital, that matters in the fight for global economic freedom and fairness. Youre one of the few Bitcoin maximalists who openly acknowledges that while fiat is very harmful to the environment, Bitcoin is problematic as well, and your investigation into Bitcoins energy use is the most comprehensive one there is. In your opinion, is there room for both fiat and Bitcoin in the future, or does something have to give? In my opinion regarding room for two, in the short term, i.e., the next 10 to 15 years, yes. In the long term, 25 to 50 years, no. The market will decide either way but Id say that there would only be room for Bitcoin around the end of this century. Story continues How would you describe the results of your findings briefly to our readers? To dangerously explain by analogy Ill express things in infrastructure asset analogy. It was the lens I first took when trying to understand Bitcoin as a beginner. To analyse the impact of a highway for example, we first must understand the design, construction and operation of the highway. In Bitcoins case, you need to understand Bitcoin mining economics, and the construction and operation of all of the ASIC units that power The Blockchain. From there, its simple to get the numbers on costs and impacts. The summary is that Bitcoin mining uses a LOT of energy (power). That said, its environmental impact is 100% attached to the green performance (or lack thereof) of the global energy grid. If the global grid isnt almost emission-free by 2050, the renewable energy industry should be ashamed at the lack of their market success. But if the grid is emissions-free, Bitcoin will have insignificant environmental impact. I also compared Bitcoin and Gold Minings environmental impacts and the results were ugly for Gold. After seeing the data, no true environmentalist should be happy to support the jewellery industry any longer. Over 40% of the overall damage done by gold is done for gold jewellery alone. This is also all before we get into the impact of mining other precious metals. What measures can and should be put in place to lower the negative impact of Bitcoin in terms of energy consumption? Placing measures on Bitcoin is like trying to herd cats. Things will flow naturally based on market incentives and the rules of the game. The energy consumption issue will never be solved, nor do we want it to be, as Proof of Work and the monetization of Energy is fundamental to Bitcoin. The problem is emissions and environmental impacts of the power plants that power the manufacture and operation of the mining hardware. What are your thoughts on proof of stake alternatives? For me, If its not Proof of Work, it isnt money. I do envisage many good uses for proof of stake in the form of 2nd layer solutions or utility tokens though. What does Bitcoin and Bitcoin maximalism mean to you? Everything. Enough meaning to do dozens and dozens of stories. I believe that physical civil (roads, rail, sanitation, fibre and communications networks, etc.) and digital (Internet, Bitcoin) infrastructure are the only things that will stop the rot of inequality which is predominantly a side-effect of the root-cause problem; the printing of money. The post Green Energy Bitcoin Mining Will Have Insignificant Environmental Impact appeared first on CCN . || Bitcoin Price Stabilizes at $6,400 While Analyst Sticks to Crypto Downtrend: Since falling from $7,400 to $6,300 on September 6, Bitcoin has stabilized in the $6,400 region, providing the crypto market with a small breathing room.
Bitcoin has been fairly stable at $6,450 throughout the past 48 hours, recording a movement that has allowed tokens to minimize losses against BTC and other major cryptocurrencies.
Still, Edward Morra, a widely recognized technical analyst in the crypto community, has said that Bitcoin and the rest of the market are still on a clear downtrend.
From August 8 to August 26, for more than three weeks, Bitcoin had been relatively stable in the $6,500 to $7,000 region, demonstrating small volatility. However, from August 27 to early September, as Bitcoin started to see some major movements on the upside, the cryptocurrency market began to demonstrate extreme volatility.
As seen on September 6, the end outcome of the volatility in the cryptocurrency market was a massive crash for Bitcoin, Ethereum, and the rest of the market, deleting gains over the past month.
Considering the sheer speed in which the crypto market fell to its previous support level, Morraexplained:
“I’m not really sure why some people are still bullish here, market clearly showed you the evidence of supply still completely dominating the place. Erasing 2 weeks worth of gains in 2 days. That’s failed rally, and this is a sign of weakness, not the spring.”
Morra added that the cryptocurrency market will have to see solid stability in the low price range before properly bottoming out and initiating a mid-term rally. But, BTC and ETH, along with other assets, have not shown any signs of stabilization in their low price range.
“Springs occur at bottom of the range, preferably on low volume. Instead, we got the most technical bearish 0.618 macro retest followed by record $1B 1h volume candle. That’s not bullish in any senses,” Morra said.
Previously, ShapeShift CEO Erik Voorhees said that the bear market is not over yet but the low price range presents a viable opportunity to invest in the cryptocurrency market. Even if BTC drops in the upcoming days, it is unlikely to see BTC testing the mid-$5,000 range.
But, as Morra emphasized, the market is not bullish and is not demonstrating any signs of mid-term recovery. As such, in this period, it is more urgent for major cryptocurrencies to remain stable in their low price range for weeks if not months to ensure the market truly bottoms out in the $190 billion to $200 billion range.
Against Bitcoin, tokens have recorded 50 to 90 percent losses over the past 8 months, despite the 70 percent correction in the price of BTC. Given the magnitude of the decline in tokens, the market will most likely show oversold conditions in the short-term.
Still, in the grand scheme of things, tokens present overly high-risk opportunities with insufficient returns, at least for now.
Featured image from Shutterstock.
The postBitcoin Price Stabilizes at $6,400 While Analyst Sticks to Crypto Downtrendappeared first onCCN.
[Random Sample of Social Media Buzz (last 60 days)]
2018/10/09 00:00
#Binance 格安コイン
1位 #HOT 0.00000017 BTC(0.13円)
2位 #NPXS 0.00000023 BTC(0.17円)
3位 #DENT 0.00000034 BTC(0.25円)
4位 #BCN 0.00000035 BTC(0.26円)
5位 #NCASH 0.00000084 BTC(0.63円)
#仮想通貨 #アルトコイン #草コイン || Current price: $0.022729
Node count: 974
Total accounts: 552157
Coins burned: 3,109,995.00 TRX
#tron #trx $trx $btc #btc || Europeans waiting for October 28 to have daily close at 1:00 CET instead of 2:00 CET. We sleepy sir! $crypto $BTC $BTCUSD || BCPT SPECIAL ANNOUNCEMENT
Please join us in our official Telegram communities on Monday, October 22, 2018 at 17:00:00 UTC for a special announcement regarding BCPT's upcoming exchange listing.
$btc #btc $eth #eth $crypto #crypto $money $moon $alts #alts || 1 BTC Price: Bitstamp 6217.55 USD Coinbase 6217.02 USD #btc #bitcoin 2018-10-15 00:30 pic.twitter.com/SgyOZfHpHY || Preços Bank To Crypto:
BITCOIN: R$ 26.286,51
BITCOIN-CASH: R$ 2.054,55
ETHEREUM: R$ 890,24
SMARTCASH: R$ 0,09
ZCORE: R$ 0,36
http://bktc.com.br #stratum #fuckthebanks
04/10/18-20:00 || October 05, 2018 12:00 AM EDT
Last 4 hours, BTC -0.22% ETH -0.67% LTC -0.12% XRP -0.88% BCH -0.23%
#cryptofinance #cryptocurrencies #BTC #ETH #LTC #XRP #BCH || Zaifを使うメリットは指値出しておけばシステムのバグで１００万円のビットコインがたまに４０万円で買えたり１６０万で売れたりすることかな
まともに取引したいならbitcoin売買高世界一のmex http://goo.gl/otgm9p を選ぶといいよ
メーガン妃
11:00
1 || #LIZA #LAMBO price
10-26 02:00(GMT)
$LIZA
BTC :0.00000
ETH :0.00000
USD :0.0
RUR :0.0
JPY(btc) :0.0
JPY(eth) :0.0
$LAMBO
BTC :0.009
ETH :0.275
USD :61.0
RUR :3888.0
JPY(btc) :6210.8
JPY(eth) :6201.3 || Bitcoin (0.31): $6,533.93
Ethereum (1.35): $223.73
XRP (0.7): $0.28
Bitcoin Cash (2.28): $459.66
EOS (0.66): $5.46
Stellar (0.86): $0.21
Litecoin (1.17): $57.61
Tether (-0.23): $1.00
Monero (1.21): $118.72
Cardano (0.44): $0.07
|
Trend: no change || Prices: 6361.26, 6376.13, 6419.66, 6461.01, 6530.14, 6453.72, 6385.62, 6409.22, 6411.27, 6371.27
|
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 2016-01-15]
BTC Price: 364.33, BTC RSI: 27.23
Gold Price: 1091.50, Gold RSI: 53.82
Oil Price: 29.42, Oil RSI: 26.44
[Random Sample of News (last 60 days)]
Your first trade for Wednesday: The " Fast Money " traders delivered their final picks with just two trading days left in the year. Pete Najarian was a buyer ofWynn Resorts ( WYNN ) . Brian Kelly was a buyer of Trina Solar ( TSL ) . Dan Nathan was a seller of McDonald's ( MCD ) . Guy Adami was a buyer of Thermo Fisher Scientific ( TMO ) . Trader disclosure: On December 29, 2015, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Pete Najarian is long Long AAPL, BAC, BMY, BP, DIS, DISCA, FOXA, GE, KO, MRK, PEP, PFE, he is long calls A, ABX, BAC, COP, DAL, DDD, EMR, EXAS, HAIN, HUN, LC, LULU, MOS, MSFT, NRF, NSAM, PNR, SCSS, UAL, VZ, WLL, WYNN, He is long puts FCX, MRO, WFT. Dan Nathan is long 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 GM Jan Put Butterfly, Long Len Jan Put Fly, Long QCOM feb calls, Short SPY, Long UUP. Brian Kelly is long BBRY, Bitcoin, GDX, GLD, Hong Kong Dollar, TLT, US Dollar; he is short British Pound, Euro, Yen, Yuan, Canadian Dollar, GSG, EEM, EWC, EWH, KRE, SPY. 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 || Insight - In taking economic war to Islamic State, U.S. developing new tools: By Yeganeh Torbati and Brett Wolf WASHINGTON (Reuters) - Since last month, U.S. warplanes have struck Islamic State's oil infrastructure in Syria in a stepped-up campaign of economic warfare that the United States estimates has cut the group's black-market earnings from oil by about a third. In finding their targets, U.S. military planners have relied in part on an unconventional source of intelligence: access to banking records that provide insight into which refineries and oil pumps are generating cash for the extremist group, current and former officials say. The intent is to choke off the Islamic State's funding by tracking its remaining ties to the global financial system. By identifying money flowing to and from the group, U.S. officials have been able to get a glimpse into how its black-market economy operates, people with knowledge of the effort have said. That in turn has influenced decisions about targeting for air strikes in an effort that began before Islamic State's Nov. 13 attacks on Paris and has intensified since, they said. While Islamic State's access to formal banking has been restricted, it retains some ties that U.S. military and financial officials can use against it, the current and former officials said. "We have done a really good job of largely keeping the Islamic State out of the formal financial system," said Matthew Levitt, who served as deputy assistant secretary for intelligence at the U.S. Treasury in the George W. Bush administration. "But we haven't been entirely successful, and that may not be a bad thing." Reuters was unable to verify key aspects of the campaign, including when it started or exactly which facilities have been destroyed as a result. Two current officials who confirmed the operations in outline declined to comment on their details. It was unclear how U.S. intelligence, Treasury, and military officials working on what the government calls "counter threat finance" operations have used banking records to identify lucrative Islamic State oil-related targets in Syria and whether that involved local banks. A report this year by the intergovernmental Financial Action Task Force found there were more than 20 Syrian financial institutions with operations in Islamic State territory. In Iraq, Treasury has worked with government officials to cut off bank branches in the group's territory from the Iraqi and international financial systems. Gerald Roberts, section chief of the FBI's terrorist financing operations section, said that Islamic State's recruits from outside Syria often come with financial trails that officials tracking them can "exploit." "We are seeing them using traditional banking systems," he said at a banking conference last week in Washington, adding that young, tech-savvy Islamic State members are also familiar with virtual currencies such as Bitcoin. Islamic State, also known as IS, ISIS or ISIL, is sometimes forced to use commercial banks because the amounts involved are too large to move using other means, said Levitt. The U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) uses a set of "business rules" to screen the roughly 55,000 reports it receives daily from financial institutions for signs of activity involving Islamic State, a spokesman said. He declined to describe the rules, but law enforcement sources say names, IP addresses, email addresses, and phone numbers are among the data that intelligence authorities try to match. The matches allow FinCEN "to connect the dots between seemingly unrelated individuals and entities," the FinCEN spokesman said. At present, FinCEN finds about 1,200 matches suggesting possible Islamic State-linked financial activity each month, up from 800 in April, the spokesman said. Bank of America, JP Morgan and Wells Fargo declined to comment on whether they provided financial reports to the U.S. government. Such reports are supplied confidentially. Citigroup, HSBC, and Standard Chartered did not immediately respond to requests for comment. "TIDAL WAVE II" The use of financial records linked to Islamic State is only one part of the intelligence-gathering exercise for air strikes in Syria that also includes methods such as aerial surveillance by drones, officials said. One former military official familiar with the process said that any financial intelligence collected by FinCEN would require "significant vetting" before the military acted on it. Earlier this month, U.S.-led coalition planes struck 116 fuel trucks used to smuggle Islamic State oil 45 minutes after dropping leaflets warning drivers to flee, a Pentagon spokesman said. Coalition strikes destroyed another 283 Islamic State fuel trucks on Saturday, the Pentagon said. On Nov. 8, a coalition air strike destroyed three oil refineries in Syria near the border with Turkey. U.S. defence officials estimate that Islamic State, an adversary the United States calls the wealthiest terrorist group of its kind in history, was earning about $47 million per month from oil sales prior to October. That month, the U.S. military launched an intensified effort to go after oil infrastructure, dubbed "Tidal Wave II," named after the bombing campaign targeting Romanian oil fields in World War Two. The Pentagon estimates the strikes have reduced the Islamic State's income from oil sales by about 30 percent, one U.S. defence official with knowledge of the previously unreported estimate said. Reuters was unable to confirm this. The use of financial records in helping to pick U.S. targets was first disclosed last week at the banking conference in Washington. At the conference, Kurt Gredzinski, the Counter Threat Finance Team Chief at U.S. Special Operations Command, cited the importance of information provided by banks in the war against Islamic State. "That to me is the first time in my recollection that we strategically targeted based on threat finance information," he said at the conference. He declined to comment further on which strike he had been referring to. "RESILIENT FINANCIAL PORTFOLIO" U.S. officials believe that diminished funding could gradually undermine Islamic State's grip on the area it controls in Iraq and Syria, because it needs revenue to pay salaries and keep public infrastructure operating, said two former officials with knowledge of the Obama administration's thinking. Experts caution that Islamic State, which rules an area the size of Austria, has surprisingly deep pockets due to the various revenue streams it controls. It has built up what amounts to a "durable and resilient financial portfolio," funded by oil sales, extortion, and sales of antiquities, said Thomas Sanderson, an expert on terrorism at the Center for Strategic and International Studies. "Money can be strapped to the backs of mules," Sanderson said. "It's easy to move things across a border during a time of deprivation and chaos." Despite some initial success, cutting off its funding will require deeper cooperation from governments from Turkey to Russia, experts say. The group has shown the ability to bounce back from previous U.S. strikes on its oil facilities. Counter-terrorism experts say that Islamic State appears to have learned from U.S. successes in cracking down on funding for al-Qaeda, which relied heavily on support from wealthy donors in the Gulf region. "IS has learned that you don't want to be reliant on too many outside sources," said Sanderson. "Donors are fickle and subject to pressure and (IS) wants to be in control." (Reporting by Yeganeh Torbati in Washington and Brett Wolf of Thomson Reuters Regulatory Intelligence. Additional reporting by Joel Schectman, Warren Strobel, and Jonathan Landay in Washington.; Editing by Kevin Krolicki and Stuart Grudgings) || Goldman to Launch its own Cryptocurrency; Files Patent: Wall Street firms’ increasing focus on digital currency technology has been reiterated yet again with the latest development fromThe Goldman Sachs Group, Inc.GS. The New York- based brokerage giant has filed a patent application with the US Patent & Trademark Office (USPTO) – Cryptographic Currency For Securities Settlement – for a new cryptocurrency called SETLcoin.According to the patent application that was published recently, executives Paul Walker and Phil J. Venables have been named as inventors of the system.As a digital medium of exchange, a cryptographic currency allows distributed, fast, secure, confirmed transactions for goods and services. While Bitcoin was one of the first cryptographic currencies that caught attention in 2009, several other cryptographic currencies are currently available including Novacoin, Namecoin, Feathercoin, and Dogecoin.The patent application revealed that Goldman’s technology offers a virtual multi-asset wallet representing traditional securities and cash account for an individual, investor, or trader. The wallet has technology to generate, control, and store SETLcoins, for the purpose of exchanging assets such as stocks, bonds and cash or cash equivalents through peer-to-peer network.Usually a trader trades securities by meeting at an exchange with cash for security and then the related settlement between parties occurs after much delay, sometimes after several days since the transaction. Further, the trader bears all the associated credit risk within that period.However, Goldman’s technology facilitates settlement at a much faster pace and minimizes risk. The application filing mentioned “settlements are nearly instantaneous because cryptographic currency transactions are independently and extemporaneously generated, verified, and executed within the network, without the risks associated with traditional clearing houses that can delay settlements for several days.”Cryptocurrency BuzzGoldman’s latest venture further adds to its initiatives related to cryptocurrencies. Notably, in April Goldman Sachs along with China-based IDG Capital Partners led a $50 million strategic investment in Bitcoin startup – Circle Internet Financial Ltd.Further, a group of top investment banks including Goldman, JPMorgan Chase & Co. JPM, Credit Suisse Group AG and Barclays PLC BCS is working with New York-based financial tech firm R3 to develop a framework for using blockchain technology in the global finance markets.
Blockchain, 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.Notably, in September, Bank of America Corporation BAC filed a patent with the USPTO for a system of wire transfers by using cryptocurrency.Bottom LineAs banks are embracing technology, they are continuously looking out for ways and working with FinTech to restructure many daily operations, update back-office functions and making huge investments for auto execution of transactions. Further, in this competitive environment, the financial institutions are striving hard to attract and retain clients by offering better digital experience as traditional methods are gradually taking a backseat.Goldman currently carries a Zacks Rank #3 (Hold).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 reportJPMORGAN CHASE (JPM): Free Stock Analysis ReportBARCLAY PLC-ADR (BCS): Free Stock Analysis ReportGOLDMAN SACHS (GS): Free Stock Analysis ReportBANK OF AMER CP (BAC): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || 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. || Paris Attacks Weigh On Bitcoin: EU officials are set to gather in Brussels in order to discuss the Paris attacks and ways to prevent similar situations from occurring in the future. One of the topics on the table for discussion is expected to be bitcoin and its potential to be used as a finance tool for terrorists.
The recent crisis in Paris has shined a spotlight on some of the issues that bitcoin has been facing as it becomes a more and more popular tool to conduct financial transactions on the web. While bitcoin enthusiasts say the cryptocurrency's ability to send payments anonymously without a third party intermediary is an important part of its appeal, others believe that bitcoin could be contributing to terror plots and should be more tightly regulated.
Related Link: Lasting Market Impacts From The Paris Attacks
Trust Issues
Bitcoin has long suffered from trust issues as the cryptocurrency has been portrayed as a tool for criminals after an underground marketplace dealing in illegal and illicit bitcoin transactions was exposed last year. The marketplace, called Silk Road, is what some say is only the beginning of the damage that bitcoin can do.
Because making transactions with bitcoin can protect the buyer and seller's identities, criminals are better able to solicit and pay for illegal goods and services online. The same, many believe, is true for terrorists. Bitcoin gives them an avenue to send and receive funds undetected as there is no third party intermediary monitoring and verifying those payments.
Regulation Could Break Bitcoin
However, on the other side of the coin, bitcoin supporters say that too much regulation would eliminate bitcoin's purpose all together. The electronic currency was meant to operate outside of traditional finance in order to make sending money across boarders faster and easier. They argue that placing strict regulations on bitcoin would disrupt the currency's decentralized nature and undo all of the progress that bitcoin technology has made.
Related Link: Ben Bernanke Sees Serious Problems With Bitcoin
What To Do
It is unclear how regulators plan to monitor bitcoin transactions and whether or not their efforts would be successful in thwarting terror plots. Bitcoin isn't the only payment scheme that is believed to be involved in terrorist planning operations either; pre-paid debit cards purchased from stores may also be a threat as they similarly don't require any kind of verification to be used for online payments.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || One statistic perfectly encapsulates the impact of technology on Wall Street jobs: empty trading floor ( MARK RALSTON/AFP/Getty) In 2000, Goldman Sachs had 600 traders in New York City making markets in US stocks. Today, that number is down to fewer than 10. The statistic is one of several nuggets from a Credit Suisse report on how the bank uses technology, following a conversation with chief information officer Marty Chavez . The analysts estimate that Goldman spends $2.5 billion to $3.2 billion on technology each year, or about 7% to 9% of revenue. This has big implications for the bank's staff. In some ways, technology can make their lives easier. Last month, the bank announced an initiative designed to make the lives of junior investment bankers easier — by letting technology do more of the grunt work for them. But technology might also soon replace more workers. The note said (emphasis added): Embrace Disruption—management of Goldman is very much of the belief—and we can't argue with this—that there will be far more value ascribed to those who embrace new, albeit disruptive, technologies. This disruption can be people "destructive" at times, but it can be far more destructive to be left behind in a business poised for profound change . Importantly, these changes may be disruptive, but also both relationship and profit margin enhancing, through delivery of a better product to Goldman's clients. There are ways for Goldman to be more efficient with its tech spending. About 30% of the annual expense goes to maintenance, which covers things like communications, market-data expenses, and software licensing. The bank wants to get that down to 10%, which is more comparable with software companies. That would free up $600 million to $800 million, which could either go back to the bottom line, or be reinvested strategically, Credit Suisse estimates. These strategic investments could include things like investing in blockchain technology that underpins the use of bitcoin, with the Credit Suisse analysts noting that Goldman Sachs is "very interested in the use of Blockchain/distributed ledger technology." Story continues Other investments include Symphony, the instant-communications platform out to displace Bloomberg's terminal, and Goldman's Marquee app, which delivers data and analytics to staff and is being rolled out to clients. NOW WATCH: 'The Art Of War' holds the keys to success on Wall Street More From Business Insider GOLDMAN: 'Bitcoin was just the opening act, with the Blockchain ready to take centre stage' There are 2 clear winners on Wall Street — and they're pulling away from the competition Morgan Stanley has some answering to do || 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. Story continues "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) || You say advertising, I say block that malware: The real reason online advertising is doomed and adblockers thrive? Its malware epidemic is unacknowledged, and out of control. The Forbes 30 Under 30 list came out this week and it featured a prominent security researcher. Other researchers were pleased to see one of their own getting positive attention, and visited the site in droves to view the list. On arrival, like a growing number of websites, Forbes asked readers to turn off ad blockers in order to view the article. After doing so, visitors were immediately served with pop-under malware, primed to infect their computers, and likely silently steal passwords, personal data and banking information. Or, as is popular worldwide with these malware "exploit kits," lock up their hard drives in exchange for Bitcoin ransom. One researcher commented on Twitter that the situation was "ironic" -- and while it's certainly another variant of hackenfreude , ironic isn't exactly the word I'd use to describe what happened. The @Forbes website held content until I disabled Ad Blocker. I did so and was immediately given pop-under malware. pic.twitter.com/eDVRAA9ZSu — Brian Baskin (@bbaskin) January 4, 2016 That's because this situation spotlights what happened in 2015 to billions -- yep, billions -- of people who were victims of virus-infected ads which were spread via ad networks like germs from a sneeze across the world's most popular websites. Less than a month ago, a bogus banner ad was found serving malvertising to visitors of video site DailyMotion. After discovering it, security company Malwarebytes contacted the online ad platform the bad ad was coming through, Atomx. The company blamed a "rogue" advertiser on the WWPromoter network. It was estimated the adware broadcast through DailyMotion put 128 million people at risk. To be specific, it was from the notorious malware family called "Angler Exploit Kit." Remember this name, because I'm pretty sure we're going to be getting to know it a whole lot better in 2016. Story continues Last August, Angler struck MSN.com with -- you guessed it -- another drive-by malvertising campaign. It was the same campaign that had infected Yahoo visitors back in July (an estimated 6.9 billion visits per month, it's considered the biggest malvertising attack so far). October saw Angler targeting Daily Mail visitors through poisoned ads as well (monthly ad impressions 64.4 million ). Only last month, Angler's malicious ads hit visitors to Reader's Digest (210K readers; ad impressions 1.7M ). That attack sat unattended after being in the press, and was fixed only after a week of public outcry. It's crazy to consider what a perfect marriage this is, between the advertisers and the criminals pushing the exploit kits. They have a lot in common. pop-up ads coming out of laptop screen with a spring Both try to trick us into giving them something we don't want to. We've recently learned that both entities surveil and track us beyond what we're OK with. And both are hard to get rid of. You know, like those gross toenail and skin condition ad-banners found at the bottom of every cheapo blog you've ever seen, forever burned into the "can't unsee" section of your brain. It actually makes business sense to think about malware attacks like an advertiser. You want to deliver your infection to, and scrape those dollars from, every little reader out there. You need a targeted delivery system, with the widest distribution, and as many clueless middlemen as possible. It's easy to want to blame Reader's Digest, or Yahoo, or Forbes, or Daily Mail, or any of these sites for screwing viewers by serving them malicious ads and not telling them, or not helping them with the cleanup afterward. And it's a hell of a lot easier when they've compelled us to turn off our ad blockers to simply see what brought us to their site. But the problem is coming through them, from the ad networks themselves. The same ones, it should be mentioned, who control the Faustian bargains made by bartering and selling our information. What should the websites do? The ad networks clearly don't have a handle on this at all, giving us one more reason to use ad blockers. They're practically the most popular malware delivery systems on Earth, and they're making the websites they do business with into the same poisonous monster. I don't even want to think about what it all means for the security practices of the ad companies handling our tracking data or the sites we visit hosting these pathogens. So, to my friend on the Forbes 30 Under 30 list -- a malware researcher, which I'll concede is actually ironic -- I'm sorry I won't be seeing your time in that particular spotlight. What we need is a word for the fact that ad blockers have become our first line of defense against a malware epidemic. Especially during a time when the sites we visit are begging, pleading, demanding and practically tricking us into turning off Ad Block Plus. [Image credit: Getty Images] || 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.
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Microsoft And Apple
Perhaps the most famous tech rivalry belongs toMicrosoft Corporation(NASDAQ:MSFT) andApple 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.
Coca-Cola And Pepsi
The Coca-Cola Co(NYSE:KO) andPepsiCo, 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 automakersFord Motor Company(NYSE:F) andGeneral 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 makersNike 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 chainsMcDonald's Corporation(NYSE:MCD) andRestaurant 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 makerAnheuser 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 serviceNetflix, 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.
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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 byDISH Network Corp(NASDAQ:DISH).
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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)]
In the last 10 mins, there were arb opps spanning 20 exchange pair(s), yielding profits ranging between $0.00 and $816.03 #bitcoin #btc || Bitstamp: $430.91/BTC - last trade of USD/BTC at https://www.bitstamp.net/ (high: 434.00, low: 427.00) #bitcoin #BTC http://bitcoinautotrade.com || Bitstamp: $441.01/BTC - last trade of USD/BTC at https://www.bitstamp.net/ (high: 457.45, low: 439.00) #bitcoin #BTC http://bitcoinautotrade.com || In the last 10 mins, there were arb opps spanning 15 exchange pair(s), yielding profits ranging between $0.00 and $4.41 #bitcoin #btc || LIVE: Profit = $702.28 (8.30 %). BUY B20.56 @ $420.00 (#VirCurex). SELL @ $445.96 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || BTCTurk 1220.5 TL BTCe 413.804 $ CampBx $ BitStamp 421.68 $ Cavirtex 575.00 $ CEXIO 423.48 $ Bitcoin.de 382.83 € #Bitcoin #btc || BTCTurk 948.5 TL BTCe 323.97 $ CampBx $ BitStamp 325.00 $ Cavirtex 438 $ CEXIO 327.77 $ Bitcoin.de 309.33 € #Bitcoin #btc || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000003
Bittrex: 0.00000004
Average $1.1E-5 per #reddcoin
05:00:02 || $415.75 at 00:15 UTC [24h Range: $407.25 - $457.45 Volume: 26770 BTC] || 現在の価格は 50533円(http://blockchain.info )です。前回比は2円(0.00%)です。http://konvert.in/currency/1-bitcoin-to-japanese-yen … #ビットコイン #bitcoin via @konvertin
|
Trend: up || Prices: 387.54, 382.30, 387.17, 380.15, 420.23, 410.26, 382.49, 387.49, 402.97, 391.73
|
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 2019-08-06]
BTC Price: 11478.17, BTC RSI: 60.23
Gold Price: 1472.40, Gold RSI: 75.85
Oil Price: 53.63, Oil RSI: 39.81
[Random Sample of News (last 60 days)]
BitGo partners with Algorand to offer multisig wallets and custody services: Cryptocurrency custodian BitGo announced today that it is bringing multi-signature wallets and custody services to the Algorand blockchain.Both Algorand wallets and custody can now be accessed via BitGo, according to a company statement.
Unlike traditional cryptocurrency wallets, where funds can be accessed via a single private key, multi-signature wallets require several keys to unlock funds. Many blockchains including the largest ones like Bitcoin and Ethereum already support them, while BitGo itself provides multi-sig wallet support forover 100 tokens.
Meanwhile, Algorand just completed a $60 million token sale in June with much fanfare. The company is said to be valued at $24 billion.
Join Genesis nowand continue reading,BitGo partners with Algorand to offer multisig wallets and custody services! || 100 Bitcoin Users Perform What Might Be Largest ‘CoinJoin’ Transaction Ever: The community behind the privacy-centric bitcoin app Wasabi Wallet recently brought together 100 people to collectively execute a “CoinJoin” transaction on bitcoin in what might be the biggest event of its kind.
Some context: bitcoin itself is far from private, as users can, via the blockchain, see where coins are being transferred to and from. One effort to afford greater privacy to transactions is CoinJoin, a long-standing technology first proposedin 2013by long-time bitcoin idea man and cryptographer Greg Maxwell. The idea is that transactions can be made more private by jumbling a number of different transactions together and then redistributing them.
At 100 transactions, Wasabi Wallet’s effortmightbe the biggest, but it’s certainly an advancement for the privacy tech as a whole.
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“There wasn’t any service created to do such large CoinJoins,” zkSNACKS CTO Adam Fiscor told CoinDesk, whichlaunched Wasabi Wallet last yearto make CoinJoin transactions easier to use. Fiscor did add one small caveat that it’s “possible” that Blockchain’sSharedCoinhas done one as large, “but I’m not sure if it’s relevant.”
As Fiscor explained to CoinDesk, the event represented “the largest practical CoinJoin that can be done on the bitcoin network.” That’s because of some of the built-in restrictions on the bitcoin network, such as the limit on the amount of data that can be included in a single transaction block), as well as the human practicalities of getting so many people to transact together at once.
“The third caveat is that it’s pretty damn hard to coordinate 100 people over the Tor network,” Fiscor remarked.
And indeed, the transaction took a while to execute. Partially on theWasabi Wallet reddit, the community tried unsuccessfully for a while to organize a 100 person CoinJoin, getting 94, 97, 92, and even 99 participants before reaching their round goal of 100.
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Going further, Fiscor hopes this large CoinJoin transaction offers a showcase of the norm for bitcoin’s use into the future.
In short, the more transactions in a CoinJoin, the more privacy you get, because with more users it becomes harder to untangle all the transactions that initially went in.
“However, ‘anonymity loves company’ the more participants there are, the better your privacy is, and the faster the CoinJoin rounds are,” the Wasabi Wallet websiteexplains.
Getting 100 people to join together for a transaction might seem like overkill, but Fiscor sees it as the future because the more transactions in one, the more efficient it is, too.
“In the long term bitcoin mixing will be either priced out from the blockchain or improve to be as cost efficient as possible. The more participants there are, the more cost efficiency can be gained,” Fiscor said.
And that’s especially the case with upcoming technologies that could be added to bitcoin — if everyone agrees they should be implemented, that is.
There’s “Schnorr,” for instance, a technology that could build in functionality into bitcoin to meld transaction signatures together.
“For example Schnorr input signature aggregation is way more efficient with 100 people than with [two],” Fiscor said, adding: “Same goes for Bulletproofs. Or just simply tinkering on the optimal mix outputs given a set of inputs.”
Fiber optic cable imagevia Shutterstock
• Why Academics Love Bitcoin – and Crypto
• I Started the Silk Road Wikipedia Page (Because Bitcoin) || Watch CoinDesk LIVE: Bitcoin in FLUX: Bitcoin is in motion today and no one knows if we are watching a bull market or a blip. Join CoinDesk editors for an all-day live session of in-depth market discussion. Image via Shutterstock. Related Stories Bitcoin Price Takes Another Tumble, Shedding Nearly $1,000 in 20 Minutes Bitcoin Drops Below $12K After Biggest Daily Price Move Since January 2018 Bitcoin Price Gains for 8th Straight Session, Extending 2019’s Longest Streak Coinbase Hit With Outage As Bitcoin Price Drops $1.8K in 15 Minutes || From Ghana to the Bronx, These Teen Bitcoiners Are Building the Future: Jemima Joseph, 18, is working a summer job as a social media manager for a crypto startup after graduating from high school in the Bronx. And she learned how to make her first cryptocurrency transaction, a purchase usingzcash, with theFlexamobile app.
It was a summer day, so hot the air outside felt like soup, when Joseph joined 10 other teenagers inside the BXL Business Incubator in a ragged neighborhood in the South Bronx. Their former high school English teacher,Carlos Acevedo, arranged for representatives from the Electric Coin Company, Messari, Gemini, Flexa and Casa to teach a two-day workshop for local students interested in cryptocurrency.
Sitting near Joseph during the lecture is Emmanuel Ntiamoab, 18, soon to be a computer science student at the University of Buffalo.
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“We, as students in the South Bronx, don’t often get the opportunity to be a part of something bigger,” said Ntiamoab. “So if this cryptocurrency is really like the internet, I want to learn how to be a part of it. I’m interested in development.”
Many of these students hail from immigrant communities, Ghanian, Jamaican, Nigerian, and Dominican, plus, even among the American students there are several Puerto Ricans. Most of them work after school to help support their families. They’re familiar with cross-border payments within underbanked communities. What they don’t know are the different tools available today.
“There’s a large population of unbanked and underbanked people right here,” Acevedo told CoinDesk. “They pay predatory fees. … There are fewer bank branches in the Bronx than any other borough.”
It’s true. The streets outside are full of places to get cash loans and sell jewelry and send payments abroad, all with brightly colored signs, and their correspondingly loud fees. Electric Coin Company VP of Marketing Josh Swihart told CoinDesk each student got a small zcash allowance for completing the workshop.
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“I’d love to see this replicated in other cities,” Swihart told CoinDesk. “We’ve already been asked about Oakland.”
Although Joseph already has a summer job in the industry, several other students were interested in finding internships or staying after for the entrepreneurship coaching by the BXL Business Incubator.
They’ve now joined dozens of teenagers around the world who told CoinDesk about their plans to join the cryptocurrency industry, starting by using crypto assets to further their own education.
Jemima Joseph learning about zcash with friend Joswald Batista, who is new to the crypto space. (Photo by Leigh Cuen for CoinDesk)
That’s what Toronto-based developer Anish Agnihotri, 16, told CoinDesk keeps him engaged in open-source projects since he first learned about bitcoin in 2015.
“I like that anyone, anywhere, can connect with a community of builders that is so welcoming,” Agnihotri said. “I’ve worked with people from Africa, Mexico, China, through things like Gitcoin.”
Fellow Toronto-nativeTalha Atta, 17,told CoinDesk he was immediately inspired when he learned about bitcoin from the news in 2017.
“Remittances, being able to move money abroad without any fees, would really help my family in Pakistan,” Atta said. “I just want to find the right technology to solve problems and reduce inequality.”
He’s already started experimenting with such use cases. Earlier this year, Atta won ahackathonwith some friends by making an IOTA-fueled micropayments system for people who don’t have WiFi to tap into other people’s connections.
Whether they are starting their own companies, studying computer science, doing internships, contributing to open source projects on GitHub or helping educate their peers, here are10 more teens to watch as they rise through the crypto ecosystem:
Few bitcoiners hustle as hard as the 17-year-old founder of BlockXAfrica. The Ghana-based Akyaw runs educational meetups through an email newsletter and Telegram group with nearly 300 subscribers, plus 16 teen volunteers who help organize meetups.
“We are working on content in local languages and our English content is always based on local examples and things relevant to the average Ghanaian,” he said.
Akyaw is ramping up BlockXAfrica’s programming this year, with plans for a hackathon, a developer training program, and an online course by 2020. He said the developer training will focus on apps for using cryptocurrency that leverageinterfaces the local community is already familiar with.
“People in Africa are more familiar with sending money through mobile phone numbers than email addresses,” he said. Eventually, his goal is to turn BlockXAfrica into a monetized business, with paid trainings and exclusive content. Until then, the group is focused on spreading high-quality information and combating the myth that all cryptocurrencies are “a scam,” he said.
“Most of [the participants] are teenagers because I started by speaking to my friends,” Akyaw added.
By the age of 16, this entrepreneur from Saharanpur in northern India already sold herCrypto Price Trackermobile app, which monitors1,000 cryptocurrencies across 20 exchanges in 10 languages,to Redwood City Ventures.
The iOS app maps bitcoin’s price in 32 different fiat currencies. Its global, user-friendly focus earned her the “Woman of the Year” award at a CryptoChicks conference in Toronto in April.
Despite an onslaught ofdeath threats and cyberbullying, Arora continues to work with Redwood City Ventures to further develop the product, which has been downloaded by more than 25,000 people so far.
Instead of letting the trolls get her down, Arora usedher earnings to buy textbooks and apply for aO-1A visato stay and work in the U.S. She has since relocated to San Francisco and hopes to stay to work in the cryptocurrency industry.
Now her second app, Cryptos Stickers, offers over 50 iMessage stickers related to various crypto memes.
Over in London, node wizard Anand Patel has helped at least 10 people set up their own personal nodes for various cryptocurrencies, in addition to roughly 100 people using his scripts to run nodes.
“For bitcoin, I have a lightning node testing their Layer 2 solution,” Patel told CoinDesk. “I wanted to have more of an impact on the new technology so I’d help different communities by creating install scripts to simplify the process for new users trying to set up miners and full nodes.”
Since he first discovered bitcoin four years ago, Patel graduated from theblockchain workshopled by Bitcoin Core contributor Jimmy Song and helped secure networks for proof-of-stake crypto projects such as PIVX, Chaincoin, OXY and Rise.
“I had the basic skills so I thought I’d just experiment, see what’s being done, run different people’s software and learn the process,” he said, adding that he is inspired to help facilitate “anew generation of entrepreneurs that value liberty and co-creation through decentralization.”
Meanwhile in the U.S. state of Washington, a 15-year-old figure skater is starting research to build a blockchain application for local fruit growers and sellers.
Pichini’s interest in distributed databases started while working with her dad to build a community registry of ice skating competitions and opportunities. Plus, she started trading bitcoin with her parents as a learning exercise.
After attending Song’s bitcoin seminar, Pichini noticed all the farmers and packing plants in her town shipping cherries and apples across the country.
“Especially here in Washington, there are a lot of people who are mining [bitcoin],” she told CoinDesk. “I think that [bitcoin] could actually be used as payment, especially in the wholesale industry. …I think I’d want to start my own company and have blockchain be a part of it.”
Minneapolis native Lim bought his first bitcoin in 2016, after hearing about it from friends at school, and quickly became a regular at local bitcoin meetups.
When Lim’s mother experienced severe health problems after several strokes, he pondered how to apply knowledge of the bitcoin ethos to the healthcare industry.
“In general, what I want to do is to be on the cutting-edge of blockchain technology in the healthcare space,” Lim told CoinDesk. “Putting myself out there was the best thing I could have done, instead of just reading books but also meeting people who have experience in this space.”
Lim went on to win a Startup Weekend Minneapolis hackathon in 2017 with a Hyperledger-based blockchain solution calledBlocVac, which allows patients to keep and share their own immunization records.Since then, Lim has presented his blockchain experiments at universities likeMITand community events withTechstars.
“I see myself primarily as an entrepreneur,” Lim said, “making it commonplace for people to be using applications on top of [the blockchain].”
This Londoner made a name for himself in March 2018 bydiscovering a flawin the Ledger hardware wallet. His blog post about the vulnerability propelled him toTwitter fame, with some conspiracy theorists suggesting the teen hacker worked for the rival startup Trezor.
In reality,Rashidhas contributed code to Trezor’s firmware to enhance security, although he’s not officially involved with the company, and occasionally submits contributions to open source projects such as Bitcoin Core and zcash.
“When you look back on history, or even current world affairs in less fortunate places in the world, you can see where something like bitcoin could be applied to really improve people’s lives,” Rashid told CoinDesk.
His goal is to help improve “the security and usability of private key management” across the cryptocurrency ecosystem.
For now, Rashid prefers to study and experiment on his own rather than join a startup or launch his own venture.
“I would like to study proposals for privacy improvements, such as the zero-knowledge proofs used in zcash,” he said.
Over in Israel, 18-year-old Sack created his own freelance job teaching developers about smart contracts and writing blockchain research reports for startups. So far, eight developers have taken his ethereum course, customized for each client. He developed the base curriculum while teaching himself how to deploy ethereum code in early 2017.
“You get to meet a lot of interesting people,” Sack told CoinDesk, speaking of both the ethereum and bitcoin communities. “These issues actually matter. This is the internet disrupting something that is very inherent: money, programmable money. It makes me want to put my time in it, because there’s a lot to do here.”
Several of the 25 students who attended Sack’s lectures at Tel Aviv University are now working on their own open source applications. One such student even went on to participate in the winning team of the Tel AvivBitcoin Embassy’s2018 hackathon with a project related to the lightning network, a scaling solution for bitcoin.
Since then, he has also contributed to Andreas Antonopoulos’s GitHub resources for ethereum developers and made a lightning wallet as an experiment.
“We had a great time. It really helped me with my research,” Sacks said of the wallet, which he developed with friends at a Tel Aviv hackathon. He hopes to continue freelancing in the industry, and contributing to the open source projects that fascinate him.
DAOstack developer Kaufman, 18, startedcontributingto open source ethereum projects in January 2018, after two years of researching the space.
“I also love the community and the openness of the platform,” Kaufman told CoinDesk. “I already suggested an EIP [ethereum improvement proposal].”
Kaufman dropped out of his freshman year of high school to start working full-time as a freelance mobile app developer at Tel Avivian startups. But it became a hassle for the prodigy’s parents to get him banking services.
“As a teenager, I have a lot of problems with banks,” Kaufman said. “The concept of bitcoin giving me control over my own financial assets inspires me a lot.”
In addition to leading ethereum workshops for over 100 students at coding school Le Wagon in Tel Aviv,Kaufman is currently researching the lightning network.
“I’m really interested in how the Lightning network can bring bitcoin to more mainstream adoption,” he said. “I’m currently trying to see how I can build something for that purpose.”
When Ramos graduated from high school in 2018, he promptly launched his second startup Shasta, a blockchain energy marketplace. The idea came to this Spanish entrepreneur because his first startup, Sharge, which earned him a place on theForbes 30 under 30in the European tech sector list, couldn’t get off the ground when it faced regulatory issues related to electric cars and energy sharing.
Ramos first heard about cryptocurrency in 2015 at Tim Draper’s coworking space in Silicon Valley. In 2018, a five-person team helped Ramos launch the ethereum-based project Shasta with a solar-powered pilot in a small Spanish village. Ramos said nearly 2,000 people have used the testnet so far.
“It’s a platform that lets consumers and providers connect in a DAO [decentralized autonomous organization],” Ramos told CoinDesk. “You can manage all the payments and receipts, all the things going on in this marketplace. … If we think it makes sense to make a utility token in this program, if it really makes sense, then we will do it. If not, we will raise money from traditional investors.”
Computer science student Gerald Nash, 19, has already interned at Coinbase and led several programs at the Howard University Blockchain Lab.
“A lot of students around me have randomly had their Venmo or PayPal accounts shut down or frozen even if there’s nothing suspicious,” Nash told CoinDesk.“The big thing that inspired me the most is the idea of monetary sovereignty.”
Nash first learned about bitcoin on Reddit in 2013, when he was still in high school in Atlanta, Georgia. Now he runs campus events to teach students how to manage noncustodial bitcoin wallets with private keys, the alphanumeric strings that act as passwords.
“I mostly follow bitcoin and ethereum as two of my favorite projects,” he said. “I think over the next five years [crypto] will provide more technical users with greater financial inclusion. … People will have greater access to moving and growing their money.”
Image of teen bitcoiners in Ghana (including Elisha Owusu Akyaw, second from left) via BlockXAfrica
• Bitcoin Won’t Be a Global Reserve Currency. But It’s Opening the Box
• ConsenSys-Backed Truffle Is Taking Its Dev Tools Beyond Just Ethereum || How Facebook's Libra Will Change the Cryptocurrency Landscape: Social media giant Facebook announced in June that it would launch Libra, a new cryptocurrency, in the first half of next year. Users will be able to buy things and send money to other people rapidly, anonymously and with fees of a fraction of a cent, and Facebook says it's targeting the unbanked. So what is Libra? How is it different from other cryptocurrencies? And are there investment opportunities in this new virtual currency? See Also: 2019's Hot IPOs: What the Analysts Think Spoiler alert: Libra is designed not to fluctuate much, so investing directly in the cryptocurrency probably won't do much for you. It could face steep opposition in Congress and from governments around the world. Moreover, you shouldn't invest in any cryptocurrency unless you're prepared to lose your entire investment. And although there are some indirect ways to invest in the crypto boom, these, too, are highly speculative. Here's what you need to know: How is Libra different from Bitcoin? Bitcoin is a virtual currency that has no central governing authority, such as a central bank. Users can buy and sell Bitcoins anonymously and use them to make untraceable purchases. Bitcoin uses blockchain technology--think of a decentralized ledger of transactions shared and maintained across a vast network of computers--that its advocates say makes counterfeiting impossible. Like Bitcoin, Libra will use blockchain technology and allow users to be anonymous. That's where the similarities end. What makes cryptocurrency problematic as a currency is that its price can swing wildly. Bitcoin, for example, has fluctuated between $1,914 and $19,345 over the past two years. But Libra's value will be tied to a pool of money in the Libra Reserve, which gets its cash from the members of the Libra Association, a Swiss nonprofit that will oversee the cryptocurrency. The association has 28 initial members, including Facebook, Visa and PayPal, as well as a few nonprofit organizations, such as Kiva, a microlender. Story continues Each member kicks in $10 million to the Libra Reserve. The Libra Association could grow to about 100 members, says Morningstar analyst Ali Mogharabi. You will be able to exchange Libras for money in the reserve, which in turn will be invested in various government bonds and currencies. The reserve's owners will pocket the interest from those investments. In order to use Libras, you'll need a crypto wallet, an app that lets you turn Libras into dollars (and vice versa). Facebook will offer a wallet through a subsidiary, Calibra, which will allow users to send money to anyone with a smartphone and may eventually allow direct purchases. You'll also be able use other wallets currently on the market to store Libras. Calibra will ensure the separation of social media information and financial information, Facebook says. [PULLQUOTE] Why is Facebook creating Libra? In a white paper, Facebook says Libra will help provide basic financial services to people who lack bank accounts. It will also make it easier for people in one country to send money to relatives in another country. With 2.4 billion users, Facebook will have a huge, ready-made pool of potential Libra users, all of whom could use the currency to buy things they see on the social network. Although Facebook says that data from those who use Libra won't be sold or used for targeted ads, skeptics abound. "They are not rolling out Libra for philanthropic reasons," says Adam Levin, Founder of CyberScout . "They are trying to find additional ways to scoop up information about people's habits." Nevertheless, Libra will allow Facebook to diversify itself from advertising revenue. Facilitating payments is a lucrative business. Mastercard, for example, sports a 56.9% operating margin, a measure of profitability that shows how much a company makes on each dollar of sales after paying for wages and materials but before paying interest or tax. "Everyone wants to get into payments, and now it's Facebook's turn," says John Freeman, vice president of stock research at CFRA. And Facebook will also get a slice of interest payments from the Libra Reserve fund. What are the drawbacks for Facebook? Facebook is already in the crosshairs because of consumer privacy concerns. In July, the Federal Trade Commission approved a $5 billion settlement with Facebook over its privacy practices. Libra will likely add to those worries. Congress has been scrutinizing tech giants such as Facebook, Google and Amazon for possible antitrust practices. The Federal Reserve, Securities and Exchange Commission and the Treasury have expressed concerns. Since news of Facebook's intention to debut an anonymous payment system, congressional hearing schedules have been filling up fast, and executives are facing a number of potentially grueling appearances on Capitol Hill. "With Facebook exerting such a tremendous amount of influence and power over politics, those writing legislation have a very personal motivation" to limit Facebook's influence, says Freeman. A broader worry is that the public may not trust Facebook enough to use Libra. All currency, whether crypto or paper, relies on trust for acceptance. Given consumers' concerns about their privacy on Facebook, the public could be slow to accept Libra. And although Bitcoins seem to be unhackable, the wallets that hold them are not, nor are the exchanges that trade them--and once your crypto wallet is hacked, your cryptocurrency is gone forever. (Facebook says it will refund users if their Calibra accounts are compromised and they lose their Libras, but it hasn't shared specifics.) What effect will Libra have on the rest of the cryptocurrency market? Bitcoin isn't the only cryptocurrency in the world--in fact, there are more than 1,000. After Bitcoin, some of the most widely traded cryptocurrencies include Ethereum, XRP, Litecoin and EOS. All other things being equal, if Libra becomes popular and accepted, it would draw investors away from other cryptocurrencies and push down their prices. But you shouldn't invest in any of them unless it's with money you're willing to lose. A stock has earnings and dividends behind it; the U.S. Treasury has the vast U.S. military behind it, as well as extensive policing powers. Bitcoin and other cryptos? Nothing. Joseph Stiglitz, recipient of the Nobel Prize in Economics, says Libra doesn't offer much, either. "Why would anyone give Facebook a zero-interest deposit, when they could put their money in an even-safer U.S. Treasury bill or in a money market fund?" he recently wrote in a syndicated column. One answer, of course, is to shield criminal activities because the transactions can't be traced. But people have made money in Bitcoin. What are the investment opportunities in Libra or other cryptocurrencies? People invest in Bitcoin simply because they hope its price will go up, that the next person will be willing to pay more than they did. This is known on Wall Street as the Greater Fool Theory. Libra's value will be tied to real currency, so there's not as much potential for it to rise or fall dramatically. You're unlikely to become a Libra billionaire, unless you're Mark Zuckerberg. Several companies do benefit from cryptocurrencies, but the benefits can be fleeting. Bitcoin mining, a process of solving complex math problems to get new Bitcoins and verify transaction ledgers, requires a vast amount of processing power. Stock in Advanced Micro Devices ( AMD ) has soared 80% this year, in part because its processors are prized for mining Bitcoin. However, application-specific integrated circuits, or ASICs, that are made especially for Bitcoin mining are now preferred. And demand for those chips rises and falls with the price of Bitcoin. Blockchain technology does have legitimate--and promising--business use. Financial services firms can use blockchain to keep records of complex trades and contracts. Nasdaq, for example, offers a blockchain service through its Nasdaq Financial Framework. Amazon.com offers a service for companies to create their own blockchain services. For now, we think blockchain technology is interesting to watch but not yet something most investors should put their money on. QUIZ: Are You Guilty of Insider Trading? And what about Facebook ( FB )? Morningstar's Mogharabi thinks that Libra won't do much for Facebook's earnings for the next few years. CFRA's Freeman agrees and says investors should be more interested in Facebook Watch, the company's YouTube competitor, which now has 140 million daily views--a fraction of YouTube's typical traffic, but growing. "That's the new thing from Facebook to get excited about," he says. EDITOR'S PICKS 10 Stocks That can Prosper From Lower Interest Rates 5 Biotech Stocks With Blockbuster Potential 20 Great Small-Cap Dividend Stocks Copyright 2019 The Kiplinger Washington Editors || Bitcoin Wallet Review: BC Vault Throws Down the Gauntlet to Trezor: The limited edition all-aluminum version of the BC Vault feels like it could withstand some serious trauma. I recommend this more than the base version, if you can get one. | Source: CCN The Bitcoin hardware wallet space is increasingly active, with new entrants coming up all the time. If you search hardware wallet on Amazon, you get dozens of options. The two most well-known companies, of course, are Ledger and Trezor . But a variety of alternatives exist. CCN received two BC Vault review units from a company called Real Security , based out of Slovenia. From Skeptic to Bitcoin Hardware Wallet User in a Few Simple Steps Ill be frank: Ive always felt that hardware wallets are a nice to have when it comes to cryptocurrency . There are real benefits for those looking to hold Bitcoin and other assets long-term. But if youre more interested in using the tech day-to-day, an added step seems complicated. Nevertheless, I was eager to try it out to evaluate how difficult it would be. I used a small amount of Bitcoin Cash for my experiment. bitcoin hardware wallet bc vault Paper wallets run the risk of damage or fire, but those were what I used to store a lot of crypto for a long time. Unfortunately, Ive lost most of it. If Id had a BC Vault, I likely would not have. BC Vault bitcoin wallet review Using a hardware storage device like BC Vault gives me the feeling that I will be able to restore lost coins if I take the proper steps. To back up your wallet, you get two options: using QR codes or backing up with an SD card. My device came pre-loaded with a 1GB card. You can store multiple backups, and youre encouraged to do so at various points. Read the full story on CCN.com . || Key Bitcoin Price Indicator Suggests $21,000 ‘Fair Value’ By End Of 2019: The bitcoin ( BTC ) price is unlikely to break $40,000 in 2019, Bitcoin Knowledge podcast host Trace Mayer declared as part of new analysis on June 24. Uploading fresh readings from his price forecasting tool, the ‘Mayer Multiple,’ the serial commentator and bitcoin proponent said that current trajectory should favor an end-of-year bitcoin price of $21,000. This, while below the estimates of other industry figures such as Fundstrat’s Tom Lee , still places the largest cryptocurrency ahead of its record high set in December 2017. The Mayer Multiple is a calculation achieved by dividing the current bitcoin price by its 200-day moving average. Currently at 2.09, the metric has only seen higher readings 14.79% of the time, meaning that a giant leap to $40,000, in particular, is unwarranted. “...Very low probability of $40k in a few months,” Mayer summarized. As Cointelegraph reported , bitcoin succeeded in retaking the $10,000 barrier late last week, only to go on past $11,000 within 24 hours. The performance buoyed analysts, many of whom considered $10,000 to be a watershed moment. Investors waiting on the sidelines, they argued, would jump on board once five figures were reached, triggering a snowball upward price effect. At press time Monday, markets were nonetheless taking a break from bullish movement, BTC/USD settling at around $10,850. For the rest of the year and beyond, however, the Mayer Multiple considers moves through $15,000, $21,000 and then $30,500 to be probable. The first of these would nonetheless be “overvalued” should it hit in September, but thereafter, bitcoin would find its price niche. June 2020 should trigger the $30,000+ bitcoin, roughly a month after the next block reward size halving event. Related Articles: CEO of Major American VC Firm Digital Currency Group: Crypto Winter Is Ending Former Wall Street Exec Tone Vays: There Is No Evidence That the Crypto Winter Is Now Over Crypto Analyst Says Bitcoin Price Could Hit $100,000 During Next Bull Run 4 Big Reasons Bitcoin’s Price Will Probably Not Stop at $20K This Time View comments || Napster Creator’s Blockchain Firm Helium Releases IoT Hotspots: Napster creator Shawn Fanning’s new company Helium has released its internet of things (IoT) wireless hotspot devices with ablockchain-based incentives program, according to an official blogpostby Helium on June 12.
According to the post, a Helium Hotspot provides wireless connectivity to theInternet; one node on its own will cover about 1/50 to 1/150 of a city, according to the company’s research.
The nodes are intended to support a network of internet coverage, one which isdecentralizedand powered by individual contributors. Contributors are rewarded by an incentives program on the Helium blockchain, which is powered by the hotspots themselves — one hotspot is one node for the blockchain.
According to the companywebsite, the hotspots’miningmechanism within the blockchain is much less energy-intensive than traditionalconsensusalgorithms used for blockchains such asproof-of-work. The mining works by verifying the legitimacy of other nodes using a “Proof-of-Coverage” protocol, which purportedly is no more energy-consuming than an LED light bulb.
Energy concerns have been an issue voiced by critics of blockchain tech in the past, as a recent studysuggestedthat carbon emissions from bitcoin (BTC) mining are comparable to the whole of Kansas City.
There are also a number of potential use cases mentioned, on the post and the website, that go beyond typical internet services via Helium’s sensors, such as using smoke or heat sensors to prevent wildfires, tracking pets, or even preventing bike theft via location-detecting sensors.
Helium Hotspots are only available for purchase in Austin, Texas upon release, but national coverage is reportedly planned for the fourth quarter of 2019. The company also intends to sell the hotspots globally in the future.
Asreportedby Tech Crunch, Helium has raised at least $51 million in funding for its IoT network. One issue noted in the report is that there needs to be a large number of hotspots, sufficiently spread out, in order for there to be a functioning network at all.
Last month, engineering and electronics manufacturer Boschsaidthat it would aid the development of the IoT space by defending it from censorship. Board member Dr. Michael Bolle said:
“We cannot accept a situation in which the overwhelming reaction to digital innovations is mistrust and fear.”
• Blockchains Acquires Development Firm Behind ‘The DAO’ Project
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• Bitcoin Generates More Carbon Emissions Than Some Countries, Study Warns || ‘Bitcoin Creator’ Craig Wright Almost Ended Up in Handcuffs: Report: Craig Wrightrevealed that the private keys necessary to access a disputed $10 billionBitcoinhaul would be released next year. Wright claimed the keys were handed to a bonded courier, who was directed to deliver them in 2020.
The revelations came during Wright’s deposition in the ongoing Kleiman trial, at one point during which he allegedlytheatrically broke down in tears. According to Florida court reporter, Carolina Bolado, the legal battle looks set to run for some time, as Wright wreaks havoc and confusion in the courtroom.
As per live tweet updates from the Florida courtroom, the self-proclaimed Satoshi Nakamoto’s day in court was eventful, if unproductive. Between bouts of crying, throwing documents across the room, and being threatened with handcuffs, Wright made yet more startling claims.
Despite being questioned on the whereabouts of the contested Bitcoin trust private keys for over a year, this is the first time Wright ever mentioned the 2020 release date. Until now, he claimed the Bitcoin holdings were practically unattainable. Wright maintained the funds were guarded by multiple stewards in a blind trust – to which he did not have access.
When asked who was in possession of those 15 slices, Wright claimed to be in ownership of some himself. On the location of the others he claimed to be less sure.
Read the full story on CCN.com. || Japanese crypto exchange Bitpoint hacked, lost $32 million: Japanese cryptocurrency exchange Bitpoint has announced today that it has been hacked, losing about 3.5 billion yen ($32 million) in cryptocurrencies, including XRP. The funds were stolen from "hot wallets," and out of 3.5 billion yen, about 2.5 billion yen belonged to customers, and the remaining to the exchange itself, according to the announcement. Bitpoint said it identified “an unauthorized outflow of virtual currency” last night and immediately suspended all its services. The exchange offers trading in five cryptocurrencies - bitcoin (BTC), bitcoin cash (BCH), ether (LTC), litecoin (LTC) and XRP. “We are working hard to find out the cause, identify the outflow, and minimize damage,” it added. Just last month, Singapore-based cryptocurrency exchange Bitrue suffered a hack, losing about $4.3 million in XRP and Cardano (ADA) tokens. Today’s Bitpoint hack marks this year’s sixth breach, and the total amount stolen from cryptocurrency exchanges to date now stands at nearly $1.39 billion, according to The Block’s research.
[Random Sample of Social Media Buzz (last 60 days)]
Bitcoin and Litecoin Price Analysis: BTC seems bearish as LTC goes on bullish ride https://t.co/XVBAiGzhN8 #cryptocurrency #money #finance #news || Blockchain will change the face of Real Estate and @ihtcoin is the perfect example !!😍😇
#ihouse $IHT #Cryptocurrency #IHT #RealEstate #Blockchain $IHT #ihousecontributor #BTC
#ATO #IHTcontributor #FinTech #Contributor @ihtcoin
https://t.co/UGLiKmGhek || Great book by @thebitcoinrabbi (thank you for the copy @ MCC! 🙂)
And great example by @GaryLeland
#Bitcoin https://t.co/i2Nt32ZU9V || @PeterSchiff Buy bitcoin, bye gold
https://t.co/GNwqFgGt5q || Bitcoin Dominance Still Rising It will Harmful for Altcoin for CRYPTOCAP #Ethereum #BitcoinDominance #cryptocurrency #bitcoin https://t.co/d50fItb2UE || IntoTheBlock to Showcase Blockchain Batman at BTC 2019 - Finance Magnates https://t.co/J9CDADg4XA || $EPAZ's Bitcoin Sharing & Blockchain Social Media App Webbeeo Is In Alpha Testing Phase https://www.owltmarket || I will never understand Bitcoin || You ought to Take your time to check this! The most gorgeous ever! #Shato || BITCOIN TO $9,000 Or Bear Flag?? | CHAINLINK PUMPING ON GOOGLE PARTNERSHIP! | Bakkt Test Launch Date https://t.co/QQOoDYFiLK #bitcoin #bitcoins #bitcoinprice #bitcoinnews #bitcointrading
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Trend: down || Prices: 11941.97, 11966.41, 11862.94, 11354.02, 11523.58, 11382.62, 10895.83, 10051.70, 10311.55, 10374.34
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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)]
Bitcoins hashrate exceeds 100 exahashes per second: At the start of September, reports of bitcoin's burgeoning hashrate were bouncing around the crypto ecosystem as hashing power exceeded 85 EH/s; giving rise to speculation as to what it meant for bitcoin and the wider crypto industry. Today, bitcoin hits yet another milestone, and a new all-time high in terms of it's hashrate; providing yet another argument for the developing strength, security, and popularity of the network. Hashrate can be defined as the total measure of computing power within any given blockchain-based ledger. Hashing occurs within bitcoin's verification process, in which transactions are confirmed by miners who use their hashpower to solve equations, thus producing BTC as a reward. In essence, the higher the hashrate, the more miners are working away at those blocks. Alongside this increase in hashpower, comes an increase in mining difficulty; the more saturated network power becomes, the more difficult it is to mine BTC. As such, mining difficulty adjusts itself accordingly every two weeks. Indeed, this increase could be a case of quality over quantity, i.e., rather than an uptick in the number of miners, the rise could be the result of the prevalence of sophisticated mining equipment. Interestingly this is supported by a recent report by Tokeninsight, which claimed that demand for mining equipment had become so excessive that mining manufacturers couldn't deliver on supply. Furthermore, the report suggests that as hashrate rises, so too will mining difficulty, with a projected increase of around 48-72% in the second half of 2019. Does Hashrate High = Bitcoin Price High? Bitcoin's hashrate has been on a constant upward trajectory since late December, coinciding neatly with bitcoin's presumed price bottom. The Bitcoin Hashrate boom In light of this, some analysts and experts have been quick to propose a correlation between bitcoin's rising hashrate and price action. The theory goes that high hashing power is often a good sign of network health, providing investors with more confidence in BTC as a result. Bitcoin bull Max Keiser is one of the ardent propagators of this theory. After Bitcoin's last milestone of around 85 EH/s, Keiser simply Tweeted , "Price follows hashrate, and hashrate chart continues its 9 yr bull market," alongside a chart depicting the exponential growth of hashrate over the past decade. However, the connection between price and hashrate isn't necessarily accurate. This can be seen by the lack of correlation between bitcoin's price and it's hashing power throughout the course of last years bear market. During that time, hashpower continued to increase as price action declined. Regardless, the swelling growth of hashrate can only be considered a good thing for the longevity network, whether the price is impacted, or not. || USD/JPY Fundamental Daily Forecast – Supported by Fading Concerns Over Global Economic Slowdown: The Dollar/Yen is surging early Wednesday on the back of rising U.S. Treasury yields and increased demand for risky assets. The Forex pair has also crossed to the strong side of a key technical area that is helping to generate upside momentum by triggering buy stops and attracting aggressive buyers.
At 04:12 GMT, theUSD/JPYis trading 107.743, up 0.212 or +0.20%.
Global bond yields are rising as well as demand for global equities thanks to the recent announcement of the resumption of trade talks between the United States and China. Fading concerns over a global economic slowdown have encouraged investors to sell gold and safe-haven currencies like the Japanese Yen and the Swiss Franc. The price action indicates investors are reducing their expectations for more stimulus from central banks.
Technically, the main trend is down, but momentum has clearly shifted to the upside. The main trend will change to up on a trade through 109.317. A move through 104.463 will signal a resumption of the downtrend.
The minor trend is up. It changed to up when buyers took out a pair of minor tops at 106.976 and 107.086. This move shifted momentum to the upside.
The main range is 109.317 to 104.463. Its retracement zone at 107.463 to 106.890 is controlling the near-term direction of the USD/JPY. The Forex pair is currently trading on the bullish side of this zone, making it support.
Fundamentally, the schedule was light in Japan with the BSI Manufacturing Index coming in at -0.2, better than the -7.1 forecast and -10.4 previous read.
Bloomberg says the Bank of Japan (BOJ) may be considering a so-called reverse operation twist. “That’s where the central bank moves to cut short-term rates while supporting longer-term ones. In theory, it could head off yen appreciation, support institutional investors’ returns and boost bank stocks,” according to Bloomberg.
“The Bank of Japan’s current dilemma is that while its peers have eased policy – or are set to do so soon – it has refrained from additional action. That leaves Japan’s exchange rate vulnerable if other central bank’s moves drive down their currencies. A stronger yen would hurt Japanese exporter earnings, the stock market and put downward pressure on prices,” Bloomberg wrote.
The USD/JPY could soar if the BOJ makes this move to weaken the Japanese Yen.
On Wednesday, traders will get the opportunity to react to the latest data on Core Producer Price Inflation (PPI) and Producer Price Inflation (PPI).
Core PPI is expected to have risen 0.2% and PPI is expected to come in flat. I don’t expect the reports to have much of an effect on the USD/JPY or interest rates since the market has already priced in a 25-basis point rate cut by the Fed next week.
Thisarticlewas originally posted on FX Empire
• USD/JPY Fundamental Daily Forecast – Supported by Fading Concerns Over Global Economic Slowdown
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• One Less War Hawk
• AUD/USD, NZD/USD, USD/CNY – Asian Session Daily Forecast || US Dollar ETFs Show Strength With Greenback at 2-Year High: This article was originally published onETFTrends.com.
U.S. dollar-related ETFs continued to rally, with the greenback pushing toward its highest level in over two years, as global uncertainty pushed global investors to the more attractive U.S. markets.
Year-to-date, theInvesco DB US Dollar Bullish (UUP)increased 5.6%, and theWisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU) rose 4.1%. Meanwhile, the ICE Dollar Index, which tracks the greenback against a basket of its peers, hit its highest level since mid-2017 on Tuesday.
UUP tracks the price movement of the U.S. dollar against a basket of currencies, including the euro, Japanese yen, British pound, Canadian dollar, Swedish krona, and Swiss franc. Additionally, the actively managed USDU tracks the USD against a broader basket of developed and emerging market currencies, including China, India, South Korea, Switzerland, Australia, Mexico, United Kingdom, Canada, Japan, and Europe.
The U.S. dollar strengthened Tuesday as the British pound slipped to a new multi-year low, following Prime Minister Boris Johnson's defense of his Brexit plans, while China’s yuan currency slipped to its weakest in 11 years, theWall Street Journalreports.
Wide Demand For Dollars
“There is a very widespread demand for dollars outside of the U.S. borders,” Jane Foley, a currency analyst at Rabobank, told the WSJ. “So the dollar behaves like a safe-haven, and it retains this core demand when risk appetite is low.”
The uncertainty over an escalating trade war between the world's two largest economies has weighed on global exports for many major exporting countries, like South Korea and Japan to Germany.
Meanwhile, the growing amount of negative-yielding assets abroad have pushed foreign investors to the relatively more attractive U.S. Treasuries. Investors have also grown increasingly worried about the prospects of European markets in recent weeks after rising uncertainty over Italy's political climate and Germany's weakening economy that could slip into a recession.
Related:U.S. Dollar ETF Has Some Doubters – Here’s Why…
“It is just the least ugly sister at the moment,” Esty Dwek, a strategist at Natixis Investment Managers, told the WSJ. “There is some safe-haven demand still because of the tariffs and the global growth [concerns].”
The U.S. dollar has continued to appreciate against global currencies despite President Donald Trump's call to devalue the greenback and the Federal Reserve's looser monetary policy outlook. The U.S. central bank, though, has been slower to address interest rate cuts, as compared to other world central banks.
The Fed has been “slow off the mark” in bringing down borrowing costs, Foley added. “Other central banks have been much more proactive.”
For more information on the foreign exchange markets, visit ourcurrency ETFs category.
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READ MORE AT ETFTRENDS.COM > || MetaMask’s mobile browser gives us a glimpse of Ethereum’s future: Ethereum walletMetaMaskreleased a private beta version of its upcoming mobile browser yesterday, giving developers a chance to provide feedback. The mobile browser will let users access the Ethereum blockchain, store funds and use decentralized applications, ordapps.
This is a mobile version of the desktop MetaMask wallet, which similarly allows users to interact with the Ethereum blockchain. Currently the desktop version has more than1.3 million usersand recorded1 million transactionsin April 2019 alone. But critics of the browser–and Ethereum–often point to slow transactions and high expense-especially when doing large numbers of transactions. While not unique to MetaMask, it has lead to lower dapp usage across the network, prompting Ethereum developers to begin a 5-10 year path towards creating amore scalablenetwork. But MetaMask thinks it has a solution.
As pointed out by product researcher Eric Conner onTwitter, MetaMask’s mobile browser will useConnext Network’sDai Card to offer a service called InstaPay—for fast and free transactions.
Connext Network is what’s called second layer infrastructure, and is designed to make Ethereum more scalable without changing the underlying code of the network. It usesstate channelsto make faster and cheaper transactions, similar to howLightningworks for the Bitcoin network. (Spankchainis another example of state channels working in practice).
InstaPay will run using the Connext Network’s payment channels. The payments will be instant—especially compared to the 14 seconds it takes for transactions on Ethereum to complete—and will be free. The money will be held in DAI, a stablecoin pegged to the U.S. dollar but backed by reserves of ether. In the same way that MetaMask works, users will have control over their private keys, therefore having control over their own money.
MetaMask’s “bridge to the decentralized web” is finally coming to mobile
Transfers can be made to other DAI addresses, including anyone who is also using MetaMask’s mobile browser, or theDAI card(what the standalone service is called). At the moment, the DAI card and IntsaPay only allow a maximum holding of $30 and maximum payment value of $10–these will be raised once it comes out of testing mode. But there’s a slight snag.
Connext Network is a non-custodial wallet, which means you control the keys to your own funds, but it is not yet decentralized. While Connext is operating the only public node, making it difficult for the company to make fake transactions, itcancensor them.
While it’s not perfect, it does provide a glimpse of how Ethereum might work in the near future: The main blockchain serves as a secure layer for large transactions while smaller payments, handled by companies like InstaPay, will sit on layer two. This would reduce the load on an alreadystrugglingmain blockchain, while opening the door to decentralized finance, or DeFi, applications. That is, if anything makes it out of beta mode. || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 04/08/19: Bitcoin Cash ABC rallied by 3.57% on Saturday. Reversing a 0.54% fall from Friday, Bitcoin Cash ABC ended the day at $338.67.
A particularly bullish morning saw Bitcoin Cash ABC rally from intraday low $327 to an early morning intraday high $347.39.
The early rally saw Bitcoin Cash ABC break through the first major resistance level at $333.67 and second major resistance level at $340.2.
Easing back through the rest of the day, Bitcoin Cash ABC slipped to $332 levels before a bounce back to $338 levels in the final hour.
In spite of the choppy day, Bitcoin Cash ABC left the major support levels untested.
At the time of writing, Bitcoin Cash ABC was down by 1.42% to $333.87. A bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $337 to a low $333.87.
Bitcoin Cash ABC left the major support and resistance levels untested early on.
For the day ahead, a move back through the morning high to $338 levels would support a run at the first major resistance level at $348.37.
Bitcoin Cash ABC would need the support of the broader market, however, to break out from the morning high $337.
Barring a broad-based crypto rally, Friday’s high $347.39 and first major resistance level at $348.37 would likely limit any upside.
Failure to move through to $338 levels could see Bitcoin Cash ABC take a bigger hit on the day. A fall through to $329 levels would bring the first major support level at $327.98 into play.
Litecoin slipped by 0.72% on Saturday. Following on from a 4.1% slide on Friday, Litecoin ended the day at $94.2.
A mixed start to the day saw Litecoin recover from a morning low $93.92 to strike an early morning intraday high $96.79.
Falling well short of the first major resistance level at $98.47, Litecoin eased back to a late intraday low $93.6.
Steering clear of the first major support level at $91.71, Litecoin recovered to $94 levels to limit the downside on the day.
At the time of writing, Litecoin was down by 0.59% to $93.64. Another mixed start to the day saw Litecoin rise to a morning high $94.79 before hitting reverse.
Falling short of the first major resistance level at $96.13, Litecoin fell to a morning low $93.38 before steadying. In spite of the pullback, Litecoin steered clear of the first major support level at $92.94.
For the day ahead, a move through the morning high to $94.9 levels would support another run at the first major resistance level at $96.13.
Barring a broad-based crypto rally, the first major resistance level and Saturday’s high $96.79 would limit any upside.
Failure to move through to $94.9 levels could see Litecoin slide deeper into the red. A fall back through the morning low $93.38 would bring the first major support level at $92.94 into play.
Barring a crypto meltdown, Litecoin should steer clear of sub-$90 levels on the day. Expect the second major support level at $91.67 to come into play in the event of an extended sell-off.
Ripple’s XRP gained 1.48% on Saturday. Reversing most of a 1.68% fall from Friday, Ripple’s XRP ended the day at $0.31595.
Bullish through the morning, Ripple’s XRP rallied from an early intraday low $0.31074 to an early afternoon intraday high $0.31771.
Steering clear of the first major support level at $0.3071, Ripple’s XRP broke through the first major resistance level at $0.3166.
Falling short of $0.32 levels for a 2ndconsecutive day, Ripple’s XRP eased back to $0.314 levels before a late move back to $0.31595.
At the time of writing, Ripple’s XRP was down by 0.19% to $0.31534. Ripple’s XRP hit an early morning high $0.31706 before falling to a low $0.31462.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead, Ripple’s XRP would need to steer clear of sub-$0.315 levels to support a run at the first major resistance level at $0.3189.
Barring a broad-based crypto rebound, however, Ripple’s XRP would likely continue to fall short of $0.32 levels.
Failure to steer clear of sub-$0.315 levels could see Ripple’s XRP test the first major support level at $0.3119.
In the event of an extended sell-off through the day, Ripple’s XRP could test the second major support level at $0.3078 before any recovery.
Ripple’s XRP should steer clear of the third major support level at $0.3009 and sub-$0.30 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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• S&P 500 Weekly Price Forecast – Stock markets get crushed this week || Chargers Star Russell Okung Is Pumping Bitcoin at NFL Training Camp: Russell Okung is prepping his team for theNFLseason the best way he knows: by talking about bitcoin. The two-time pro-bowler tweeted out today that the first conversation of the San Diego Chargers training camp revolved around the flagship cryptocurrency.
The tweet kicked off an active thread that inspired some crypto mainstays to chime in. Anthony Pompliano, the co-founder of Morgan Creek Digital andincessant crypto bull, responded with fire emojis.
Gemini, the cryptocurrency exchange owned by the Winklevoss Twins, responded with a moonshot emoji.
Read the full story on CCN.com. || Crypto exchange Gemini expands to Australia: Cameron and Tyler Winklevoss, the twins known for coming up with the idea for Facebook , have announced the expansion of their crypto-exchange Gemini to Australia. Australian users can now trade in Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Zcash on the exchange. The expansion into Australia takes Gemini’s exchange into its sixth country, joining Canada, South Korea, Hong Kong, Singapore, and the UK. However, the company’s stablecoin, Gemini, will not be available to Australian customers–only people in South Korea and (some of) the US can buy it. “Trust is our product,” wrote Tyler Winklevoss in the accompanying press release. Their pitch to investors is that they are a regulator-backed exchange that promises to make it easier to use crypto; particularly their own stablecoin, Gemini–as long as you’re in South Korea or the US. To bolster their safe credentials, this week the Gemini exchange announced it had hired cybersecurity expert David Damato as its chief security officer. They pinched Damato from Tanium, the “world’s most valuable privately-held cybersecurity company.” His job will be to keep the exchange safe in an industry prone to countless, large-scale hacks . The Winklevoss’ theory is that its cautious approach to the crypto market will help entice big investors into space. “Stablecoins like the Gemini dollar bring U.S. dollars onto the blockchain,” said Tyler Winklevoss earlier this year . “[it] has the potential to bring unprecedented access, liquidity, and capital formation to private investments and tremendous benefits to investors.” WhatsApp’s quiet mobile payments expansion could beat Libra to the punch To help soothe investor anxiety, the Gemini stablecoin gets regularly audited by consulting firm Trail of Bits, to verify the 1:1 peg with the dollar. But looking at the numbers, Gemini’s safety-first approach hasn’t had that much success. At the time of writing, the Gemini exchange ranks 74th in the world by trading volume. While there are many unregulated exchanges that have been known to pump their trading volumes artificially , Gemini is a long way behind giants such as Binance. The Winklevii can only hope things start looking up as they go down under. || GBP/USD Daily Forecast – Sterling Surges to 7-Week High: The British pound advanced against its major counterparts in early trading on Friday as investors continue to see the odds of a no-deal Brexit declining.GBP/USDwas further boosted by a weaker dollar as the greenback reversed on Thursday.
Yesterday’s European Central Bank meeting triggered a volatile reaction in the markets. The dollar initially advanced towards yearly highs, as the central bank delivered an aggressive stimulus package, but abruptly reversed gains.
The dollar index (DXY), which measures the greenback against a basket of the most popularly traded currencies, has erased earlier gains and is now in negative territory for the month thus far.
GBP/USDhad been consolidating below a technical resistance level for most of the week but has since broken above it, reasserting the bullish trend.
The lack of market-moving headlines related to Brexit has aided the advance in Sterling and will likely to continue to do so. UK Prime Minister Boris Johnson’s recent defeats have boosted the markets view that a UK exit from the EU might materialize with a deal. Unless Johnson comes up with a new way to reassert his ‘no-deal’ proposition, the pound stands to recover further.
The break above 1.2373 has been significant considering that the level held the upside for most of the week. The prior consolidation looks like a flag pattern and thus there’s a strong bullish signal in play.
The next upside target for GBP/USD comes in at 1.2486, just ahead of the critical 1.2500 psychological handle.
Dips in the pair are likely to be bought ahead of resistance turned support at 1.2373. The horizontal level is now seen as a line in the sand for a near-term directional bias.
The British pound has gained against all of the major currencies in the early day. Further, it is on pace to post the largest gains for the week among the eight most popular currencies.
• The break above significant resistance reaffirms the bullish trend in GBP/USD.
• The next area of interest to the upside falls at 1.2486 followed by 1.2500.
• It will take a break below 1.2373 to change the directional bias to bearish.
Thisarticlewas originally posted on FX Empire
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• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 13/09/19 || North Carolina Congressman Reintroduces Crypto Tax Bill: A tax bill aimed at refining the Internal Revenue Services treatment of cryptocurrencies has moved to the U.S. House of Representatives Ways & Means Committee. The Virtual Value Tax Fix Act, first legislators first proposed last Congressional session, has been reintroduced by North Carolinas Rep. Ted Budd (R) on July 25. In what Budd calls a national security issue, the bill would effectively end the double taxation on cryptocurrency transactions by amending 1986s Internal Revenue Code . Under the 1986 Code, gains and losses in transactions of real property of like-kind remain unrecognized. As Rep. Budd stated before an introduction of the bill in June, the code places a 40 percent tax rate on transactions. Budd says tax concerns and transaction record-keeping act as a deterrent to adoption. Related: British Authorities Seek Data from Crypto Exchanges in Search of Tax Evaders The use of digital assets is already treated as a sale of the asset, even though the economic reality of the transaction is a purchase of a simple consumer good, Budd said . If passed, the act would free cryptocurrency transactions from double taxation and record-keeping immediately. Budds newest bill adds to other cryptocurrency legislation before Congress. In early July, Rep. Tom Emmer (MN-R) reintroduced the Safe Harbor for Tax Payers with Forked Assets Act of 2019. Emmer says the bill will bring clarity on taxable events following cryptocurrency forks and airdrops. Rep. Budds legislation joins fellow North Carolina Representative Patrick Henrys enthusiasm for cryptocurrency, particularly bitcoin. I think theres no capacity to kill Bitcoin, Henry said speaking in preparation for Facebooks Libra hearings prior to the U.S. House and Senate Committees, Related: Brazilian Tax Authorities Impose New Requirements on Crypto Trading My point is: you cant kill Bitcoin, he said. Image via budd.house.gov Related Stories IRS Says Its Sending Warning Letters to US Cryptocurrency Owners Lawmakers Amp Up Pressure on Facebook to Halt Libra Cryptocurrency Development || Gold Price Forecast – Gold markets dip to find buyers: Gold marketshave fallen a bit during the trading session on Monday to kick off the week but has found enough buying pressure near the $1500 level to continue to attract attention. At this point, the market looks very likely to grind to the upside, and I believe that the $1500 level will be massive support going forward. However, if they were to push this market below there, then I think the next major support level is closer to the $1450 level. Ultimately, I think that gold is a market that cannot be sold, because not only is the $1450 level support based upon the previous top of an ascending triangle, but now we are starting to see the 50 day EMA reach towards that level.
To the upside, I think that the $1550 level will be the initial target, and if we can break above there it’s likely that we could go to the $1600 level next. At this point in time I think that you should look at the gold market from a value perspective, as central banks will continue to do everything they can to drive their currencies lower. This of course is most purely reflected in the precious metals markets, and of course the Gold markets are probably one of the most pure plays when it comes to that. Bitcoin of course has been serving the same function as of late as well, so keep that in mind. In a sense, you can trade one or the other, using the other chart as a secondary indicator.
Please let us know what you think in the comments below
Thisarticlewas originally posted on FX Empire
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[Random Sample of Social Media Buzz (last 60 days)]
Bitcoin le ayudó a sobrevivir a la hiperinflación en Venezuela
https://t.co/03cUY82oJD || またもピンポイント大的中！吉川将大氏によるBTC予言 驚愕の正確性には裏が？！ https://t.co/sIlBa9jouz || BTC上がれ～なんて
アルト民も言ってるけど
BTCドミナンスこれだと
どうしようもないよ https://t.co/hczQVSpmpc || Read more on #cancer https://t.co/5btZEGTnFz • July 29, 2019 at 08:45PM • #success #money #health #mesothelioma #attorney #lawyer #win #billionaire #forex #pennystocks #investor #ceo #stocks #trader #millionaire #bitcoin #daytrader #job #work #cryptocurrency #gold #pips #da… || BUY signal for $QKC/$BTC[1.5] on #Binance
Generated by @bot_strategy 2.4.8. Get yours: https://t.co/2wMFjq56GZ
#market #technicalanalysis #cryptotrading #blockchain #automatedtrading #crypto #altcoin #cryptocurrency #price #bitcoin #coin #trading https://t.co/xcYvw5Pxr1 || @ampireland XRP is coming down again, it follows BTC of course. || A $XMR is worth 0.00802359 BTC || coincheck取引所での価格は 1021094円/BTCです。短期的に高くなっているようです。詳しくは https://t.co/YJ0LPqEup8 || Aug 26, 2019 22:00:00 UTC | 10,275.40$ | 9,256.70€ | 8,409.80£ | #Bitcoin #BTC $BTC #crypto #financial #news https://t.co/BcAG6ru6mp || @APompliano @JoeSquawk @CNBC US gov should begin mining btc to accelerate their move to renewables as well as a solution for energy storage in the short and long term.
|
Trend: down || Prices: 10070.39, 9729.32, 8620.57, 8486.99, 8118.97, 8251.85, 8245.92, 8104.19, 8293.87, 8343.28
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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 2022-11-30]
BTC Price: 17168.57, BTC RSI: 49.16
Gold Price: 1746.00, Gold RSI: 58.68
Oil Price: 80.55, Oil RSI: 44.20
[Random Sample of News (last 60 days)]
Ukraine Latest: More US Aid Set; G-7 Denounces Russian ‘Crimes’: (Bloomberg) -- The Group of Seven said it would hold Russia accountable for “war crimes” after recent attacks on Ukrainian energy and water facilities. Foreign ministers of the leading industrial nations slammed the Kremlin’s “irresponsible nuclear rhetoric” in a statement released after a two-day foreign ministers meeting in Muenster, Germany. Most Read from Bloomberg Twitter Now Asks Some Fired Workers to Please Come Back Putin’s Ukraine War Is Entering a Terrifying New Phase Ukraine Latest: US and Russia Discussed Containing War, WSJ Says Lawyer Suing Twitter Over Layoffs Says Musk Trying to Comply Houston Mogul’s $75 Million Win on Astros Hits Caesars Hardest The White House announced $400 million in security assistance for Ukraine, including refurbished Soviet-era tanks and air defense missiles. The Netherlands will supply €120 million ($118 million) in aid including €45 million for tanks. Chinese President Xi Jinping told German Chancellor Olaf Scholz he opposed the use of nuclear weapons in Europe, in his most direct remarks yet on the need to keep Russia’s war in Ukraine from escalating. (See RSAN on the Bloomberg Terminal for the Russian Sanctions Dashboard.) Key Developments Xi Tells Scholz China Opposes Nuclear Force in Message to Putin Superyacht Seized in Spain as Sanctioned Owner Stops Fees US Announces $400 Million in Tanks and Missiles for Ukraine Ukraine Seeks IT Investment at Web Summit as War Rages Back Home The Latest Russia Oil Mystery: Vostok Sale Announced Then Denied US National Security Advisor Visits Kyiv in Show of Support On the Ground Ukrainian forces shot down eight Shahed drones and two Kalibr missiles during past 24 hours, Zelenskiy said Friday. The heaviest fighting occurred in Donbas, near Bakhmut and Soledar. (All times CET) Ukrainian Lines Holding in Donetsk, Zelenskiy Says (10:30 p.m.) Fierce fighting took place this week in the Donetsk region towns of Bakhmut and Soledar and remain the most tense area of the front line, Ukrainian President Volodymyr Zelenskiy said in his nightly address on Friday. “We hold our positions.” Story continues Zelenskiy said that Russia has concealed its war losses from its people, and also lies to some foreign leaders “about its alleged readiness for negotiations.” “When someone thinks about negotiations, he is not trying to deceive everyone around while sending thousands to death,” the president added said. One Crop Vessel Left Ukraine Friday, Several Inbound Ships Cleared (8:22 p.m.) One vessel carrying sunflower oil left the Ukrainian port of Chornomorsk on Friday for Romania under the Black Sea Grain Initiative, the Joint Coordination Centre said in a notice. Currently, there are only two vessels under the Initiative at the Ukrainian ports. On board inspections were concluded on seven inbound vessels, all of which were cleared to sail to Ukrainian ports. Putin Allows Russian Co. to Buy Baker Hughes Assets (5:27 p.m.) Russia’s President Vladimir Putin signed a decree allowing Russian company Oilfield Services Technologies LLC to buy Baker Hughes assets in the country, according to a decree published on Russia’s legal database on Friday. Read more: Putin Allows Russian Co. to Buy Baker Hughes Assets US Announces $400 Million in New Security Assistance (5:06 p.m.) The Biden administration announced $400 million in new security assistance for Ukraine, including refurbished Soviet-era T-72 tanks and the HAWK air-defense missiles that Ukraine has been seeking. The package also includes more of the “Phoenix Ghost” drones that have been effective against Russian forces in the east. The US and the Netherlands will split the cost of refurbishing 90 tanks in the Czech Republic, a Defense Department spokeswoman said. Some tanks will arrive before the end of the year. The Netherlands said the total value of its package would be €120m, of which €45m will be used for the T-72 tanks. Read more: US Announces $400 Million in New Security Assistance for Ukraine Russia Seeks Sanctions Relief for Agriculture Bank: Reuters (3:44 p.m.) Russia wants Western countries to ease curbs on state-owned agriculture lender Rosselkhozbank and clear the way for Russian grain exports, according to a Reuters report citing people it didn’t identify. Moscow hasn’t publicly detailed its demands beyond calling on European nations to release Russian fertilizer stuck in ports and warehouses, and allowing it to resume exports of ammonia. Slovak Premier Seeks Export Analysis on Russia Component Report (3:08 p.m.) Slovakia’s premier said he’d ordered the government to analyze reports that his country had exported components to Russia that could be used for military purposes after the invasion of Ukraine started. Read more: Slovak Premier Seeks Export Analysis on Russia Component Report G-7 Creates ‘Mechanism’ to Defend Ukraine’s Key Infrastructure (2:30 p.m.) The Group of Seven nations has agreed to coordinate assistance in repairing, restoring and protecting Ukraine’s energy and water facilities, which have been under a month of attacks from Kremlin troops. In the statement following their meeting in Germany, the G-7 foreign ministers said they have established a “coordination mechanism to help Ukraine repair, restore and defend its critical energy and water infrastructure.” Strengthening Ukraine’s “civilian resilience” will be a focus of an international conference in Paris planned for Dec. 13, they said, adding that the group “will stand firmly with Ukraine for as long as it takes.” G-7 Vows to Hold Russia Accountable for ‘War Crimes’ (2 p.m.) The Group of Seven condemned Russia’s recent move to “terrorize” Ukraine’s civilian population with ongoing, “indiscriminate” attacks against energy and water facilities that have left much of the nation in the dark. Those strikes “constitute war crimes, and we reiterate our determination to ensure full accountability for these and crimes against humanity,” G-7 foreign ministers said in a statement following their meeting in Muenster, Germany. The statement also condemned “irresponsible nuclear rhetoric” by the Kremlin. “Any use of chemical, biological, or nuclear weapons by Russia would be met with severe consequences,” the G-7 said, without laying out specific steps. The group reiterated a call to Belarus “to stop enabling Russia’s war” and said the Belarusian regime risks “overwhelming additional costs.” Most Read from Bloomberg Businessweek El Salvador’s $300 Million Bitcoin ‘Revolution’ Is Failing Miserably US Housing Hit by Spiraling Mortgage Rates as Inflation Persists Yeezy Roller Coaster Ended With Two-Minute Phone Call at Adidas Fast Fashion Waste Is Choking Developing Countries With Mountains of Trash These Five Women Are Helping Doctors Crack the Long-Covid Mystery ©2022 Bloomberg L.P. || First Mover Americas: Bitcoin Rebounds to $19.6K, Ether Up 6%: This article originally appeared inFirst Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context.Subscribe to get it in your inbox every day.
Bitcoin (BTC) has gained ground sincedroppingto $18,100 Thursday after theConsumer Price Index (CPI)data was released. The cryptocurrency was recently trading at around $19,600, up just over 5% on the day.
Ether (ETH) gained 6% on the day, while Quant Network’s token surged 20%. The question is whether bitcoin and the rest of the crypto market can sustain Friday’s rebound.
As investors awaitedearningsreports from major banks Citigroup, Morgan Stanley and JPMorgan Chase, U.S. equity futures wavered. Stocks turned sharply higher Thursday, after major indexes spent most of the morning deep in negative territory.
[{"Asset": "Ribbon Finance", "Ticker": "RBN", "Returns": "+6.52%", "DACS Sector": "DeFi"}, {"Asset": "Chain", "Ticker": "XCN", "Returns": "+3.42%", "DACS Sector": "Currency"}, {"Asset": "PAX Gold", "Ticker": "PAXG", "Returns": "+0.2%", "DACS Sector": "DeFi"}]
[{"Asset": "STEPN", "Ticker": "GMT", "Returns": "-13.61%", "DACS Sector": "Culture & Entertainment"}, {"Asset": "Chiliz", "Ticker": "CHZ", "Returns": "-11.87%", "DACS Sector": "Culture & Entertainment"}, {"Asset": "Kyber Network Crystal", "Ticker": "KNC", "Returns": "-11.82%", "DACS Sector": "DeFi"}]
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 Volatility Meltdown Continues
By Omkar Godbole || Don’t Get Taken for a Ride by Carvana Stock: Check out recent headlines aboutCarvana(NYSE:CVNA) stock, and you may start to think the opportunity to bottom-fish in this former stock market high-flier has emerged. Since last year, shares in this automotive e-commerce company have fallen by more than 94%, from an all-time high of $370.10 per share to around $20 per share today.
Pushed significantly lower by both the stock market’s downturn, plus the bursting of the used car bubble, some are starting to argue that Carvana has become oversold. However, this is a flawed argument. There’s a lot of uncertainty when it comes to this company’s path to profitability.
Even worse, the downside risk with Carvana remains extremely high. The bursting of the used car bubble has only started to take shape. The situation stands to get even uglier for the company, which puts this stock possibly at risk of a total wipeout.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
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Last month, Piper Sandler’s Alexander Potter upgraded Carvana stock, from “neutral” to “overweight” (equivalent to “buy”). In his upgrade, which was accompanied by a lowering of his price target (from $98 to $73 per share), Potter called Carvana“grossly undervalued,”citing the fact it trades for less than a tenth of what it traded for a year ago, plus its long-term growth potential.
Potter is correct that Carvana has fallen significantly in price. The analyst is also correct in saying that this company still has growth potential, given long-term trends. However, neither of these factors make this stock a bargain. First off, CVNA stock is only going to begin making its way towards Potter’s price target, once it demonstrates consistent profitability.
Based on analyst consensus,this may not happen until 2025. Sure, going from $20 to $73 per share within three years would still result in a strong annualized return, but given analyst consensus for 2025 earnings ($2.36 per share), the stock may not be able to more than triple in price.
Second, before Carvana has the opportunity to continue “disrupting” the used car market, it needs to survive the current downturn. Put simply, it may not make it.
So far in 2022, demand for used cars has cooled considerably. Prices have stayed high. The continuation of the supply chain crisis has limited new vehicle production creating an overall vehicle shortage.
However, between the end of stimulus checks, high inflation, and rising interest rates which have made$1,000 monthly car paymentsa far more common occurrence, automobiles have become far less affordable to U.S. households, resulting in demand destruction.
Demand is likely to keep dropping, as the economic environment gets more challenging. Auto supply is also expected to start normalizing next year. A less favorable supply/demand dynamic will place more pressure on Carvana’s gross margins, which have already been squeezed by inflationary pressures. In turn, this will worsen Carvana’s cash burn.
In the best-case scenario, the company will raise more cash through the sale of new CVNA stock. In the worst-case scenario, with the market’s limited appetite for speculative growth stocks, a dilutive equity raise may not be an option.
Carvana will have to instead file for Chapter 11. While for now not a certainty, an eventual bankruptcy is not out of the question.
In a matter of a year, trends in the used car market have gone from extremely favorable, to extremely unfavorable, for Carvana. With this, don’t even try to justify buying its shares, even as a “moonshot wager.”
Just because it’s fallen by more than 94% doesn’t mean it can’t take another 94% dive. In fact, it could sink all the way to zero, if it runs out of financing options, and is forced into bankruptcy.
Coupled with this high downside risk, is an insufficient level of upside potential. Even if it does avoid bankruptcy, and obtains equity capital to keep the lights on, the resultant dilution will further limit Carvana’s ability to bounce back to materially higher prices.
With this unfavorable risk/return profile in mind, your best move is to avoid CVNA stock.
CVNA stock earns a F rating inPortfolio Grader.
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.
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The postDon’t Get Taken for a Ride by Carvana Stockappeared first onInvestorPlace. || Tether Bank-Fraud Probe Gets Fresh Look by Justice Department: (Bloomberg) -- A Justice Department probe into a controversial corner of the crypto world -- Tether -- has been struggling to reach a conclusion. Now a new team is taking a crack at investigating whether executives behind the popular stablecoin committed a crime.
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Last year, federal prosecutors in Washington warned top officials at Tether that they could be charged for allegedly deceiving banks they used to move cash, people familiar with the situation said at the time. But after months of legal wrangling, the case has been transferred within the department, according to people familiar with the matter.
US Attorney Damian Williams in Manhattan took over the inquiry in recent weeks, the people said, asking not to be named discussing the confidential case. His office, based in the Southern District of New York, has been one of the most aggressive in pursuing suspected cryptocurrency crimes and recently secured a guilty plea from a person affiliated with one of Tether’s payment processors.
The unusual decision to move an investigation after it’s reached such a late stage underscores the uncertain legal terrain in the rapidly developing realm of digital currencies, according to former federal prosecutors. The Southern District office’s experience tracking money flows in banking and crypto probes may also give it an edge in gathering evidence or establishing other sources of information, they said.
Transferring cases “doesn’t happen often and there’s going to be pretty individual, unique circumstances each time,” said Robertson Park, a partner at Davis Wright Tremaine who previously spent two decades in the Justice Department’s fraud section. But passing crypto cases to certain offices could become more common and makes sense, he said. “There’s a steep learning curve for folks who get involved in these investigations and probably a fairly limited number of people who have real experience and understanding.”
A representative for Tether declined to comment before publication of this article. In a statement posted online afterward, Tether said it is “old news that isn’t even factual.”
“Tether executives have had no interactions with the DOJ in connection with any investigation for well over a year and the DOJ does not appear to be actively investigating Tether,” it wrote in the statement. Tether said it does have regular, open dialogue with law enforcement including the Justice Department and that it collaborates with authorities around the world.
“It is business as usual at Tether, as we continue to lead the industry in transparency,” it said. “Any claims otherwise are blatant lies.”
Representatives for the Justice Department and Williams’ office declined to comment. An investigation doesn’t mean that charges will necessarily result.
Banks’ Reluctance
Tether is the third-biggest cryptocurrency, with a market value of about $69 billion that trails only Bitcoin and Ether, according to CoinMarketCap. The stablecoin was first issued in 2014, serving as a digital stand-in for dollars. By accepting Tether, exchanges could offer traders price stability, letting them park their balances without being exposed to Bitcoin’s gyrations. Tether’s creators have said that each token is backed by a US dollar, either in cash or other holdings, such as US Treasuries.
The Justice Department investigation initially examined those public statements before narrowing to focus on Tether’s use of banks to hold money and process customer transactions, the people said.
Tether struggled to connect to the global financial system at a time when many banks wouldn’t open accounts for virtual-currency exchanges, amid fears that doing so could run afoul of US laws against preventing the handling of funds tied to drug trafficking, cyberattacks or terrorism.
Some of Tether’s interactions with banks came to public light after Wells Fargo & Co. in 2017 blocked wire transfers that had been sought by Tether through Taiwanese banks. Tether sued Wells Fargo, saying the San Francisco-based bank knew or should have known that the transactions were being used to obtain US dollars so clients could purchase digital tokens. The company soon dropped the case. Wells Fargo said at the time that it had no duty to complete the wire transfers arranged through other banks. It’s unclear whether the Justice Department investigation involves those transactions.
In Washington, prosecutors examined whether Tether officials had opened any bank accounts under false pretenses, such as by obscuring that the cash was connected to crypto. The government was considering a so-called right-to-control theory, accusing executives of fraud if they made misrepresentations. Such a case, however, would face potential legal uncertainties, the people said.
Right to Control
For one, while accepting cash tied to crypto might pose a risk to a bank, there’s no accusation Tether inflicted any losses on a bank, the people said. The right-to-control theory itself is under review, with the US Supreme Court preparing to hear arguments in a case stemming from the conviction of a New York developer.
Posing another hurdle, the crypto landscape has evolved during the investigation as some banks started helping clients buy or bet on digital currencies. If a case were brought against Tether officials, jurors could potentially hear from witnesses that the relationships at the heart of the prosecution would be allowed today, they said.
Last year, prosecutors sent letters to some Tether officials alerting them that they’re targets of the investigation. The notices signaled that a decision on whether to bring a case could be made soon. Tether’s lawyers pushed back with direct appeals to Justice Department brass, the people said. More recently, they’ve sought a formal declination, assuring executives that charges are off the table, the people said.
Then the U.S. attorney’s office in Manhattan took over.
Resolving Probes
Some of its prosecutors are familiar with Tether’s business, after investigating Crypto Capital, a payment-processing firm that Tether used once it lost the bulk of its banking relationships.
Prosecutors began filing charges in 2019 against a few people who worked with Crypto Capital, including Reginald Fowler, a former co-owner of the Minnesota Vikings football team. Authorities said Fowler opened up several accounts at US banks by falsely claiming they were for real estate investment transactions when the true purpose was to handle cryptocurrency transactions. He pleaded guilty in April to five charges including bank fraud, wire fraud and operating an unlicensed money transmitting business. He faces life in prison when sentenced next year.
The parent company of Bitfinex -- a crypto exchange run by some of Tether’s executives -- enlisted the help of courts as it sought to recoup hundreds of millions of dollars from Crypto Capital. In one court filing, Giancarlo Devasini, the finance chief at both Bitfinex and Tether, said customers transferred more than $1.5 billion to bank accounts held or controlled by Crypto Capital from early 2017 until late 2018. He also said Crypto Capital had accounts with several banks including Citigroup Inc., Bank of America Corp., HSBC Holdings Plc and Wells Fargo.
Meanwhile, Tether has resolved government accusations that it overstated its holdings.
From June to September 2017, Tether never had more than $61.5 million in funds while about 442 million coins were in circulation, the Commodity Futures Trading Commission said last year. A separate investigation by New York Attorney General Letitia James found that Tether and Bitfinex hid losses and lied in statements.
Tether and Bitfinex resolved the probes, agreeing to a total of $61 million in financial penalties without admitting or denying wrongdoing.
(Updates with Tether’s statement after publication from sixth paragraph)
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©2022 Bloomberg L.P. || Why Bitcoin-, Ethereum-Related Stock Marqeta Is Moving Higher During Wednesday's After-Hours Session: Marqeta Inc(NASDAQ:MQ) shares are trading higher by 7.32% to $6.69 during Wednesday's after-hours session after the company reported mixed third-quarterfinancial results.
What Happened?
Marqeta reported a third-quarter EPS loss of 10 cents, which missed the analyst consensus estimate of a loss of 9 cents. Meanwhile, sales of $191.62 million beat the $180.86 million estimate.
Gross profit for the company was $80 million, an increase of 36% year-over-year, resulting in a gross margin of 42%.
Marqeta's GAAP net loss was $53 million, and Adjusted EBITDA loss was $14 million.
"This recent quarter serves as a great example of our continued success and the tremendous market opportunity in front of Marqeta. We signed innovative new customers in both the United States and Europe, we expanded our platform with the launch of new banking capabilities to complement our leadership in modern card issuing, and increased the global utility of our platform with our European data residency program," saidJason Gardner, Founder and CEO of Marqeta.
According to data fromBenzinga Pro, MQ has a 52-week high of $30.28 and a 52-week low of $6.05.
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© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Grayscale Takes Over Key Role for Bitcoin Trust, Other Products From Genesis: Crypto asset management firmGrayscale Investments, which offers the world’s biggest bitcoin (BTC) trust, is bringing a key administrative role for all of its products in-house through a newly created broker-dealer unit.
The company will now act as theauthorized participantfor the products through its Grayscale Securities subsidiary, the firmannouncedMonday. That means it will now be responsible for creating new shares of the trust and selling them to investors. Previously, Grayscale outsourced that role toGenesis Global Trading. (Grayscale, Genesis and CoinDesk all share the same parent company: Digital Currency Group.)
The change “creates efficiency but doesn’t fundamentally change the Grayscale business,” Grayscale CEO Michael Sonnenshein said in an interview. “What it’s doing is bringing a capability in-house to the Grayscale organization while continuing to adhere to any financial rules and regulations.”
Genesis will still handle buying the cryptocurrencies underlying Grayscale’s trusts, and there are currently no plans to add any liquidity providers beyond Genesis, Sonnenshein said.
“The way that we’ve structured all of those kinds of agreements is we can and, at some point, will perhaps access more liquidity providers,” he said. “Today, Genesis remains our sole liquidity provider and we’ve had nothing but a positive relationship with them, going back to 2013, so I can’t see a need to expand.”
He added that the customer experience will not be affected by the authorized participant change. Grayscale offersnearly 20 different products, which either offer investors exposure to a single cryptocurrency likebitcoinor Ethereum’s ether (ETH), or a diversified basket of tokens.
Earlier this year, before the Securities and Exchange Commission (SEC) rejected Grayscale’s application to turn the $2 billion Grayscale Bitcoin Trust (GBTC) into an exchange-traded fund, the company said it had lined up Jane Street and Virtu Financial as authorized participants following a conversion.
Read more:Grayscale Lines Up Jane Street and Virtu as 'Authorized Participants' if GBTC Converts to ETF
Grayscale Securities is recognized as a broker-dealer by both the SEC and Financial Industry Regulatory Authority (FINRA), according toregulatory filings. || Mr. Sun Yuchen Invited to Serve as First Huobi Global Advisory Board Member: Hong Kong --News Direct-- Huobi Global According to Huobi Global, His Excellency Mr. Justin (Yuchen) SUN, Ambassador Extraordinary and Plenipotentiary and Permanent Representative of Grenada to the WTO, has been invited to serve as one of the first advisors to the Huobi Global Advisory Board, which is led by global leaders. The Advisory Board is responsible for guiding Huobi Global's strategic layout and development and promoting a new chapter of Huobi Global's international development. Invited advisors for the same period are: Ted Chen, Founder of Bacera Capital, formerly Founder of Jinglin Asset Partners Du Jun, Co-founder of Huobi Global Wang Yang, Vice President, Hong Kong University of Science and Technology Leah Wald, Co-Founder of Valkyrie Investments and Founder of the first ETFs in Bitcoin Advisory board members will guide Huobi Global's business, marketing, branding, compliance, risk control and other areas, and jointly promote a new chapter of Huobi Global's global development. About Huobi Global Founded in 2013, Huobi Global is one of the world’s leading cryptocurrency exchanges, with tens of millions of users across five continents and 160 different countries and regions. We are dedicated to empowering financial freedom and creating new global wealth, having led the cryptocurrency industry in spot, derivatives, and Bitcoin transactions for many years. Our infrastructure, operations and offerings are built on processes and standards that prioritize user safety and industry compliance, backed by strong global customer supports underpinned by local expertise. It offers a unique trading environment that is truly customer-first, safe and sustainable for all users, enabling their long-term success. For more information, visit www.huobi.com Contact Details Huobi PR team +86 139 2280 3249 intlpr@huobi.com Company Website https://www.huobi.com/ View source version on newsdirect.com: https://newsdirect.com/news/mr-sun-yuchen-invited-to-serve-as-first-huobi-global-advisory-board-member-724635872 || Here's Why Silvergate (SI) is Tumbling on Binance-FTX Led Chaos: A leading provider of capital and banking services to cryptocurrency exchanges, Silvergate Capital Corporation SI has lost more than 35% so far this week as the Binance-FTX drama continues to shake the cryptocurrency market. The stock also hit a 52-week low of $32.25 yesterday, even as the broader market sentiments turned bullish on better-than-expected inflation data. It all began on Monday night as one of the leading crypto exchanges, FTX, ran into a huge liquidity crunch. While earlier in the day, FTX CEO Sam Bankman-Fried had assured investors that everything was fine with the company’s assets, Binance’s (FTX’s biggest competitor) Changpeng Zhao – popularly known CZ – disclosed that his company was selling its holdings in FTX’s native token FTX Token (FTT). This development spooked investors, which led to a major sell-off and insolvency issues at FTX. With investors demanding withdrawals to the tune of almost $6 billion, FTX wasn’t in the position to do so. So, CZ stepped in and announced his intention to acquire FTX. This somewhat mollified the investors but the damage had been done. Further, more drama unfolded as after proper due diligence, Binance backed away from rescuing FTX citing reports of “mishandled customer funds and alleged U.S. agency investigations.” Though FTX is engaged in talks with “number of players” to raise capital, ambiguity surrounding the developments continues to weigh on investor sentiments. Amid these dramatic developments, no single entity directly or indirectly related to the crypto and digital assets industry was untouched. The Bitcoin (BTC) prices have plunged more than 15% since Nov 6 and even touched a 52-week low of $15,682.69 on Wednesday. Likewise, Ethereum USD (ETH) tanked close to 20% in the same time frame. Now coming back to our main story, the Silvergate Capital stock. The company began serving digital currency providers in 2013 and has been gradually improving its market share by leveraging its technology platform and expertise to develop solutions for several large U.S. digital currency exchanges and investors globally. As of Sep 30, 2022, SI had more than 1,670 digital asset customers and $12 billion as digital asset customer deposits. Story continues The company has its own Silvergate Exchange Network, with FTX as one of its customers. So obviously, investors turned bearish on the stock as the above-mentioned events took place over the past few days. SI management came out with statements that further reinforce the fact that the company is not in any financial trouble. Alan Lane, the company CEO said, “As a prudentially regulated bank, we manage our balance sheet to provide liquidity for our clients while maintaining a strong capital position in excess of the well-capitalized status required by federal banking regulations.” As of Sep 30, 2022, Silvergate Capital had a tier 1 leverage ratio of 10.71%, common equity tier 1 capital ratio of 40.72%, tier 1 risk-based capital ratio of 46.54% and total risk-based capital ratio of 46.63%. Lane further added, “In addition to our securities available-for-sale portfolio, which amounted to $8.3 billion at September 30, 2022, as a federally regulated banking institution, we have the ability to borrow from the Federal Home Loan Bank and the Federal Reserve Bank, further strengthening our liquidity position.” Our Take Things seem to be overblown for Silvergate Capital. The company’s stock bore the brunt of these developments just because it is a significant player in the space that offers banking services to these and many others in the cryptocurrency industry. As Silvergate Capital doesn’t hold any crypto assets of its own, it should be able to avoid any risk arising out of the FTX-Binance situation. As for the company’s future financial performance is concerned, it is showing resilience even during the crypto winter and is expected to maintain its profitability as digital assets continue to gain popularity among younger investors. Also, investing in cryptocurrencies like Bitcoin and Ethereum is not the right move for every investor. As Silvergate Capital is required to follow several reporting and capital regulations for public companies and banks, it is an attractive choice for risk-averse investors who want exposure to digital currencies. Silvergate Capital stock has plunged almost 78% so far this year. At $32.68 per share, the stock is currently trading at a price/tangible book value of 0.85X, way below the Zacks Finance sector average of 4.37X. Thus, this Zacks Rank #3 (Hold) company’s beaten-down stock price and attractive valuation might be a good entry point for investors. Zacks Investment Research Image Source: Zacks Investment Research You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here . 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 Silvergate Capital Corporation (SI) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Global stocks rise but Polish deaths raise market concerns: By Herbert Lash NEW YORK (Reuters) - Stocks rose and the dollar fell on Tuesday after data provided new signs U.S. inflation was peaking, but markets were rattled by media reports that said Russian missiles killed two people in Poland, news that raised fears of an escalation in the Ukraine war. Firefighters said two people were killed in an eastern Polish village near the Ukrainian border, Reuters reported. Other media said the deaths were due to what Kyiv said were the heaviest Russian missile strikes since the war in Ukraine began. The White House said it could not confirm the reports, which Russia's defense ministry denied and described as "a deliberate provocation aimed at escalating the situation." Stocks wavered and the dollar briefly rose on initial reports of the Polish deaths as the market was overstretched as data suggested inflation was coming off its peak, said Marc Chandler, chief market strategist at Bannockburn Global Forex in New York. The Polish deaths were reminiscent of U.S. bombs that killed three people in the Chinese Embassy in Belgrade in 1999, he said. "It did not trigger a war. It was a tragic accident. This is along those same lines," Chandler said. Stocks rallied and bond yields slid further after the Labor Department reported that U.S. producer prices increased just 0.2% in October. On an annualized basis, PPI rose 8.0% after climbing 8.4% the previous month. Economists polled by Reuters forecast monthly PPI rising 0.4% and advancing 8.3% year-on-year. The reading was better than expected and bolstered the risk-off mood sparked last week by cooler-than-expected data on U.S. consumer prices that gave investors hope the Federal Reserve can soon curb its aggressive interest rate hikes to tame inflation. "The market is sniffing out the end of the Fed rate hike cycle," said Peter Duffy, chief investment officer of credit at Penn Capital Management Co LLC in Philadelphia. "The market is taking a big sigh of relief because the Fed has had to talk so tough. As soon as these numbers can start coming down, even if it's a slow walk down in inflation, the market will be relieved." Story continues Fed funds futures slid further from last week's above 5% forecast for the U.S. central bank's target rate. The market is now pricing in a peak of 4.9% next May and June, and then a drop to 4.39% by year's end on expectations the Fed cuts rates. The likelihood the Fed hikes 50 basis points in December rose to a 93% probability, up from 71.5% last week. Federal Funds rate and inflation https://graphics.reuters.com/USA-FED/RATES/gkplwmwdevb/chart.png MSCI's gauge of stocks across the globe gained 1.03%, while its emerging markets index rose 2.22%. On Wall Street, the Dow Jones Industrial Average rose 0.17% after wobbling on the Polish deaths. The S&P 500 gained 0.87% and the Nasdaq Composite added 1.45%. Big moves in the dollar, among other assets, suggested investors were dramatically changing their positions after the CPI and PPI reports, Chandler said. It will take time to gain a better take on inflation and the Fed's policy plans, Duffy said. The euro up 0.22% to $1.0348, after briefly slipping on the Polish reports, and the yen strengthened 0.50% versus the dollar at 139.18. The benchmark 10-year Treasury yield fell to a six-week low of 3.758% and was last down 10.1 basis points to 3.766%. The 10-year has fallen 30 basis points since Thursday. Chinese and Hong Kong stocks rallied overnight as investors digested China's COVID-19 policy adjustments, a property sector rescue package, and a cooling in tensions between the U.S. and China. Hong Kong's Hang Seng Index surged 4.11% overnight. The index is up nearly 25% for the month while China's CSI 300 has gained 10% in that time. U.S. President Joe Biden and Chinese President Xi Jinping held a three-hour meeting on Monday in Bali on the sidelines of the G20 gathering. Investors welcomed the two countries' pledge of more frequent communications. U.S. crude futures settled up $1.05 at $86.92 a barrel, while Brent futures rose 72 cents to settle at $93.86. U.S. gold futures settled little changed at $1,776.80 an ounce after it bullion prices edged up near three-month highs on safe-haven buying following the media reports from Poland. Bitcoin rose 1.33% to $16,809.00, but remained around 20% lower for the month. The collapsed FTX crypto exchange outlined a "severe liquidity crisis" in bankruptcy filings released on Tuesday. (Reporting by Herbert Lash, additional reporting by Harry Robertson; Editing by Bradley Perrett, Simon Cameron-Moore, Ken Ferris, Emelia Sithole-Matarise, Susan Fenton and Deepa Babington) || Cryptoverse: Let's talk about DEX, baby: By Medha Singh and Lisa Pauline Mattackal (Reuters) - As the crypto castle crumbles, some true believers say the answer is to double down on DEX. Decentralized exchanges, that is. The spectacular collapse of Sam Bankman-Fried's FTX, a major centralized crypto exchange, has unleashed a wave of calls for more regulation from mainstream bankers and investors. By contrast, some crypto players are channeling bitcoin creator Satoshi Nakamoto's original crypto vision by cutting out the financial middleman and taking to decentralized exchanges, where investors trade peer-to-peer on the blockchain. On Nov. 10, as FTX imploded, overall daily trading volumes on DEXs including the likes of Uniswap leapt as high as $12 billion, their highest level since May, according to data from market tracker DeFi Llama, though they have since pared gains. Four days later, November volumes had surpassed the whole of the month before, according to CryptoCompare. Meanwhile, weekly bitcoin flows from centralized exchanges, or CEXs, recorded their largest-ever net outflow, with 97,805 coin moved off platforms in the seven days to Nov. 13, CryptoCompare data shows. "It is now clear that there can be risk associated with holding assets in a centralized entity," said Varun Kumar, CEO of decentralized crypto exchange Hashflow. "Data is showing that users are turning to decentralized trading solutions." Nonetheless, DEXs are not necessarily safer than their centralized rivals, with inexperienced investors potentially exposed to huge risks. Users trade tokens directly with each other using blockchain-based smart contracts instead of passing funds through an intermediary or central authority. Thus, as with other platforms in the world of decentralized finance (DeFi) or Web3, there is no central oversight and - for good or for ill - investors are responsible for their trades, settlements and safe-keeping of coins or tokens. By comparison CEXs, such as Coinbase, Binance and FTX, are more akin to traditional exchanges on Wall Street, acting as the middleman in transactions, thus making trading more user-friendly especially for new investors, and sometimes offering coin custody services, as FTX did. Story continues Many centralized players have also been pushing to boost user confidence with measures to increase transparency, such as demonstrating proof of their reserves. Coinbase, Binance and FTX didn't immediately respond to requests for comment. Graphic: Crypto investors move cautiously - https://graphics.reuters.com/FINTECH-CRYPTO/WEEKLY/mopaknqzgpa/chart.png FTX SHENANIGANS That said, advocates of decentralization say DEXs could offer investors some protection from the kind of shenanigans that appear to have gone on at FTX, where as much as $1 billion of customer funds are reported missing. DEXs cannot halt withdrawals, they require users to retain custody of their funds, and trading activity and reserves can be traced directly on the blockchain. "There are definitely elements of DEXs appealing to people as they mitigate the chances of some nefarious operator or a single point of failure in the system," said David Wells, CEO at crypto exchange Enclave Markets, which offers elements of both centralized and decentralized services. The FTX crash certainly pumped up trading volumes on decentralized exchanges at the time. Volumes at the largest DEX, Uniswap, spiked to $17.2 billion in the week of Nov. 6-13, from just over $6 billion the week before, while other smaller decentralized exchanges also reported higher volumes. GMX saw over $6 billion in the week after Nov. 6, when FTX's troubles came to light, three times recent its weekly averages. Hashflow saw $110 million on Nov. 9, the day Binance dropped a plan to bail out FTX, versus a daily average of $25 million. Despite the recent surge, crypto isn't migrating en masse to DeFi exchanges, and daily DEX volumes have fallen back near October levels of below $3 billion. Nonetheless, there has been a broader, more subtle shift to decentralized exchanges, with data from Chainalysis showing overall monthly trading volumes on DEXs were between $181.5 billion and $240.3 billion from August through October, compared with a range of $173 billion to $203.5 billion for CEXs. LOWER TRADE SPEEDS The renewed interest in DEXs ties into the debate at the heart of crypto since Satoshi Nakamoto's bitcoin white paper 14 years ago: the role, if any, that centralization and regulation should play in the crypto ecosystem. While some investors prefer the transparency of decentralized exchanges, the platforms aren't suitable for investors such as traditional financial institutions and specialized trading firms, said Wells at Enclave Markets. For example, DEXs typically have slower transaction speeds, while hedge funds might not want their trading strategies to be publicly traceable on the blockchain. Many traditional finance institutions are also legally required to hold external funds with an external custodian and would not be able to "self-custody" investors' assets to trade them on decentralized exchanges. So is the future DEX or CEX? Many market participants see both centralized and decentralized exchanges coexisting. "The interconnectedness is critical," said Chris Kline, co-founder of Bitcoin IRA, which offers cryptocurrency retirement accounts, referring to DEXs and CEXs growing together as crypto trading expands. "Both will exist in the future." (Reporting by Lisa Pauline Mattackal and Medha Singh in Bengaluru; Editing by Vidya Ranganathan and Pravin Char)
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: no change || Prices: 16967.13, 17088.66, 16908.24, 17130.49, 16974.83, 17089.50, 16848.13, 17233.47, 17133.15, 17128.72
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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.
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[Technical Analysis for 2015-03-13]
BTC Price: 285.34, BTC RSI: 61.93
Gold Price: 1152.60, Gold RSI: 26.46
Oil Price: 44.84, Oil RSI: 36.23
[Random Sample of News (last 60 days)]
Obama Pushes Trans-Pacific Trade Partnership Forward: On Saturday, U.S. President Barack Obama began working to push his plans for aTrans-Pacific Partnership(TPP) trade agreement through congress despite dissension coming from his own party.
During his weekly address, the President urged lawmakers to consider the benefits of lowering barriers to trade with Asia and expressed his support for passing “fast track” legislation that will quickly move the trade agreement through Congress and allow the U.S. to finalize the details of the deal with foreign lawmakers.
Political Presence
Supporters of the trade deal say it is important for the U.S. to become more involved in Asian trade, where China has become a dominant exporter.
Not only will the deal allow the U.S. to facilitate trade between itself and Asian nations easily, but it gives the US a bit more political power in the region. During his address, Obama commented that without U.S. involvement, China will be free to “write the rules of trade in the 21st century.”
Support Exports
Additionally, the Obama Administration has said the deal would lower trade barriers and give U.S. exports a must-needed boost. In the past, the U.S. has seen exports to countries with which it maintains free-trade agreements rise; a good indication that the TPP would boost exports to Asia.
Related Link:Federal Reserve To Proceed With Caution
TPP Has Many Critics
However lawmakers on both sides of the aisle are wary of a trade agreement with Asia, citingconcernsabout currency manipulation and the failure of past agreements to live up to expectations.
Some worry that increased trade with Asia will lower wages and decrease job growth as more and more Americans will begin to buy foreign products due to the rising strength of the dollar.
Automakers have been particularly vocal about this issue, calling for currency manipulation rules to be written into a trade agreement with Asian nations.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Coinbase Just Launched America's First Regulated Bitcoin Exchange: In a massive mainstream stride for bitcoin, Coinbase, a thriving San Francisco-based bitcoin services startup, today launched the first-ever regulatedbitcoin exchangein the U.S.
The popular bitcoin wallet provider and payments processor -- fresh off arecord-breaking Series C roundwith investments from the New York Stock Exchange, VC firms and large banks -- broke the historic news in theTheWall Street Journallate yesterday. The firm then formally announced its eponymous exchange, simply called Coinbase Exchange, this morning ina blog post.
The price of bitcoin neared $300 on the news overnight. It has since mellowed and is now trading around $279, according to the CoinDesk Bitcoin Price Index.
Related:New York Regulators Lay Out Tweaks to Bitcoin Rules
Following an aggressive five-month campaign, Coinbase’s founders said that they successfully acquired “regulatory approval” from financial regulators in 24 U.S. states, including New York and California. Coinbase is working on winning approval in additional states as well.
“Our goal is to become the world’s largest exchange,” Coinbase co-founder and CEO Brian Armstrong told theJournal. In its blog post announcement, the company said it also aims to “bring stability and trust to the exchange space,” both of which aren’t in ample supply in the public following the fall of Mt. Gox and a rash of recent hacking incidents at several exchanges.
Coinbase’s global reach is already considerably expansive, having recently extending its bitcoin exchange services throughout 19 European countries. On the heels of its massive global expansion, the nearly three-year-old company hired former Senate adviser John G. Collins todrive public policyaround the controversial cryptocurrency.
Related:Bitcoin Named Worst-Performing Currency of 2014
“Coinbase will bring more stability to the bitcoin ecosystem and secure bitcoin trading for U.S.-based customers,” a Coinbase representative toldEntrepreneur. She also said SecondMarket, an online platform where private company stock can be traded, is already trading on the exchange and that Coinbase users in the 24 states that supportUSD walletscan begin trading immediately.
To stoke early adoption, Coinbase is offering customers two months of free trades. After March 30, exchanges will include a 0.25 percent commission fee.
Armstrong and Coinbase co-founder Fred Ehrsam beat Cameron and Tyler Winklevoss in the race to create the first-ever regulated Bitcoin exchange for American customers. The twin brothers, famous for their falling out with Facebook founder Mark Zuckerberg, only last weekrevealed their plansto build a Bitcoin exchange fittingly called Gemini.
Related:Operator of Bitcoin Stock Exchange Penalized By the SEC || Gem Announces Major Bitcoin Security Platform Expansion With Integration of Hardware Security Modules and Global Partnerships: VENICE, CA--(Marketwired - Jan 28, 2015) - Gem (https://gem.co), the Venice-based Bitcoin startup offering a multi-signature security platform to Bitcoin developers, today announced a major shift in the future of Bitcoin security with the deployment of custom Hardware Security Modules (HSMs) from payment security giant Thales e-Security, now offered as part of Gem's standard multi-sig wallet offering.
These HSM devices, used to protect military encryption keys and other mission critical secrets, secure more than 80% of global payment transactions. They include FIPS-140-2 Level 3 hardware-certified security, a tamper-resistant physical security mechanism that prevents intruders from gaining access to, using, or modifying sensitive private keys held within the cryptographic module, and are designed to operate within high-volume enterprise deployments.
"Our engineers worked closely with the hardware team at Thales for months to develop a custom solution specifically for the Bitcoin industry," said Gem CEO and Founder Micah Winkelspecht. "The payments industry has been using this hardware technology for years. But we looked at every HSM on the market to find one that could support Bitcoin wallets, and none of them could do it, so we built it ourselves. Thales really came through for us, and the level of enthusiasm they have for our growing industry is incredible."
With over 40 years of experience securing sensitive information, Thales e-Security -- a division of the $11B aerospace and defense giant, the Thales Group (EPA: HO) -- protects data for 19 of the 20 largest banks in the world and over 3,000 financial institutions worldwide, making it the largest provider of key security to the payments industry.
"Bitcoin represents a compelling opportunity for both new entrants and traditional members of the payments ecosystem. As providers of the most trusted and widely deployed HSMs in the world, we are excited to work closely with Gem in this rapidly evolving market," said Richard Moulds, VP of Product Strategy at Thales e-Security. "Gem's focus on comprehensive Bitcoin security, deep technical expertise, and collaborative attitude has enabled them to rapidly incorporate the use of our HSMs at the core of their solution. By taking advantage of unique capabilities of these machines, Gem is securing Bitcoin transactions in a way that matches and exceeds security best practices that are a pre-requisite in the payments industry."
Just as Thales has become the most recognized and widely used security provider for global payment transactions, Gem seeks to be the Bitcoin security provider of choice for the next wave of developers building Bitcoin apps and products. Their API optimizes the developer experience by providing an easy to use Bitcoin security platform that doesn't sacrifice security for convenience.
"We empower Bitcoin companies to build incredibly secure products and services with our multi-signature platform. By abstracting away the hard parts of blockchain development, we offer our developers the simplest way to get up and running, giving them expert security by default," said Gem COO and former PayPal executive, Ken Miller. "The additional steps we've taken to generate and secure all Gem keys within FIPS certified HSMs is a first of its kind, and signals to the industry how serious we are about securing blockchain technologies."
Gem's customers are equally pleased about the new HSM offering. Bitmo, a US based mobile payments company focused on incentivizing consumers and merchants through a seamless Bitcoin payment experience, will now be integrating Gem wallets into their platform. And last week, South East Asia's first multi-currency bitcoin wallet provider CryptoSigma announced they would be using the Gem development platform to secure their wallets. Gem's progression into hardware security fortified each company's decision.
"Addressing our customers' need for security and giving them full control and manageability of their coins is our number one priority," said CryptoSigma CEO Aaron Siwoku. "Gem's platform offers our customers the security and flexibility they desire and allows us to focus on providing a superior product and user experience. Their addition of HSMs to store and protect all Gem keys just further reinforced to us how seriously they take protecting cryptocurrency."
Bitmo Founder Michael Smallwood added, "The decision to use Gem's multisig solution was a no-brainer for us. Not only was their API easy to integrate, but we felt great knowing that our funds would be secured by the strongest solution on the market. The news that Gem will now be securing keys inside of HSMs custom built for our industry was yet another reminder of why we made the right decision partnering with Gem."
Key features of the HSM integration and partnership with Thales include:
• Physical security that includes the use of strong enclosures and tamper detection/response circuitry
• Support for BIP32 Hierarchical Deterministic (HD) key derivation
• Use of strong random number generated keys with the SECP256k1 elliptic curve to support interactions with the Bitcoin protocol
"The year 2014 was all about multi-sig; now we're finally starting to see major adoption of that security standard by Bitcoin companies, and it's growing at an exponential pace," said Winkelspecht. "2015 is the year of hardware security. The great news is they work perfectly together... like peanut butter and jelly."
For more information about Gem, please visit:https://gem.coTwitter: @GemHQFacebook:http://www.facebook.com/gemhqLinkedIn:https://www.linkedin.com/company/gem-hqGithub:https://github.com/gemhqInstagram: @GemHQ
About GemGem, founded in 2014 by Micah Winkelspecht, is a simple and secure Bitcoin platform that allows developers to build feature-rich blockchain applications in minutes using less than ten lines of code. Gem's mission is to empower individuals to be sovereign over their own assets, starting with bitcoin. The Gem API leverages a host of security features such as multi-signature wallets, hardware security modules and multifactor authentication to provide an easy to use, comprehensive security solution for Bitcoin and blockchain apps, without ever taking possession of funds. Gem is located in Venice, CA. || Bayside Corp. Announces the Launch of Vault 51 in Singapore: DALLAS, TX--(Marketwired - Mar 2, 2015) - Bayside Corp. ( OTC PINK : BYSD ) today announced through its subsidiary company Bitcoinz USA, the official launch of Vault 51, a secure offline storage for Bitcoin in Singapore. Additionally, Bitcoin is also available for sale to consumers in Singapore through the Vault 51 website. The launch is part of the initial steps in the company's Vault 51 international expansion plan in Asia. Currently, Asia represents 60% of the world population and 20% of the world economy. "The launch in Singapore represents an exponential amount of potential for Vault 51's first stop in Asia. In the long run Asia offers many intriguing possibilities as we continue to see the number of merchant adoption grow in that region." -Gordon Johnson, CEO Bayside Corp. Vault 51 is an offline storage system for Bitcoin users, which is represented by a Physical Bitcoin. The electronic Bitcoin is then stored off-line in a secured computer chip known as Vault 51 and embedded in a Physical Bitcoin, which is not connected to the internet. This process is also known as cold storage and is done to avoid hacking, loss, or theft. Official Vault 51 Website Official Facebook Page Official Google Plus Page Official Twitter Page Bayside Bayside Corp. is an American multinational corporation that manages multiple subsidiary companies engaged in a variety of business industries and sectors. At Bayside Corp. we believe that the future is now and that our efforts today will have a long lasting impact for generations to come. For additional information on the Company visit our website at: http://www.baysidecorp.com Certain statements in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" All forward-looking statements are based on Bayside's current expectations, estimates, projections, beliefs and assumptions based on information available at the time the statement was made and in light of Bayside's experience and its perception of historical trends. The forward-looking statement in this news release includes reference to: Bayside's ability to execute on its strategy and deliver strong results on behalf of its shareholders. Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties; some that are similar to other related companies and some that are unique to our company. Bayside's actual results may differ materially from those expressed or implied by our forward-looking statements and you are cautioned not to place undue reliance on them || 3 Reasons Bitcoin Is Having An Awful 2015: Bitcoin fell sharply lower this week, dropping from $267 to $224 on Tuesday. The crypto-currency is down another 21 percent on Wednesday, and now trades near $177.
The coin, said to usher the world into a digital age, seems to be losing momentum as consumers lose confidence in the currency’s validity and security.
1. Hacking Attacks
The currency has proven extremely vulnerable to online hacking groups that are able to break into exchange databases and steal large amounts of Bitcoin.
Earlier this year, UK-basedBitstampwas breached and 19,000 Bitcoin were stolen. The attack served to remind the public of last year’sMt Goxhacking attack and added to the perception that Bitcoin exchanges are unsafe.
Related Link:Which Companies Accept Bitcoin?
2. Mining Issues
Bitcoin is made possible because of the people who "mine" the currency. Miners generate new Bitcoin by doing calculations and adding to Blockchain, Bitcoin’s ledger.
Because the price of Bitcoin has dropped so dramatically, many firms no longer turn a profit from these mining operations.
On Monday,CEX.ioannounced the suspension of its mining operations, saying that prices below $320 made mining economically impractical. However, with bitcoin prices looking unlikely to recover anytime soon, CEX.io could face a difficult road ahead.
3. Legal Trouble
CoinTerra, a Bitcoin mining company, is wrapped up in legal trouble at the moment. The company is not paying customers after a lawsuit with C7 Data Centers, who is looking for over $4 million in unpaid costs.
CoinTerra is now suing C7, the data center that blocked its access.
Image credit:Public Domain
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin An Unlikely Solution For The Poor: So far,bitcoinhas caught on among tech-savvy enthusiasts; but many see the cryptocurrency as a viable solution for the poor, who often don't have access to banking facilities.
While some bitcoin firms are continuing their efforts to push thecryptocurrencytoward mainstream adoption, others are turning to nations with a large population of bankless-people that would benefit from a new way to send and receive money.
Bitcoin In Africa
Africa has become a major target for bitcoin companies looking to focus their adoption efforts on poor populations without easy access to banking. Many currently rely on companies likeWestern Union(NYSE:WU), which charge a significant premium, to send and receive money, making bitcoin's relatively cheap transaction costs very attractive.
Related Link:Bitcoin Makes Its Way To A Major Exchange
Sending Money Home Carries Costs
In 2014, more than 30 million Africans left their hometowns in order to work and sent around $40 billion back to their families. Since money sending agencies charge about 12 percent of the total amount sent, that means much of their hard-earned cash was spent on the transaction costs alone. Those figures make bitcoin a viable competitor and could help boost the currency's adoption.
Filling The Gap
Several firms are focusing their attention on the unmet banking needs in Africa using bitcoin. Global payment company BitPesa recently raised just over $1 million in order to expand its operations into Kenya, while bitcoin exchange igot saw more than 200,000 transactions in Africa throughout 2014.
Still Some Concerns
Although bitcoin's low transaction costs make it a good option for African populations without access to banking systems, the cryptocurrency still has a long way to go before becoming stable enough to depend on. Because of its high degree of volatility, critics say bitcoin is far too unstable for use in poor populations.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin An Unlikely Solution For The Poor: So far, bitcoin has caught on among tech-savvy enthusiasts; but many see the cryptocurrency as a viable solution for the poor, who often don't have access to banking facilities. While some bitcoin firms are continuing their efforts to push the cryptocurrency toward mainstream adoption, others are turning to nations with a large population of bankless-people that would benefit from a new way to send and receive money. Bitcoin In Africa Africa has become a major target for bitcoin companies looking to focus their adoption efforts on poor populations without easy access to banking. Many currently rely on companies like Western Union (NYSE: WU ), which charge a significant premium, to send and receive money, making bitcoin's relatively cheap transaction costs very attractive. Related Link: Bitcoin Makes Its Way To A Major Exchange Sending Money Home Carries Costs In 2014, more than 30 million Africans left their hometowns in order to work and sent around $40 billion back to their families. Since money sending agencies charge about 12 percent of the total amount sent, that means much of their hard-earned cash was spent on the transaction costs alone. Those figures make bitcoin a viable competitor and could help boost the currency's adoption. Filling The Gap Several firms are focusing their attention on the unmet banking needs in Africa using bitcoin. Global payment company BitPesa recently raised just over $1 million in order to expand its operations into Kenya, while bitcoin exchange igot saw more than 200,000 transactions in Africa throughout 2014. Still Some Concerns Although bitcoin's low transaction costs make it a good option for African populations without access to banking systems, the cryptocurrency still has a long way to go before becoming stable enough to depend on. Because of its high degree of volatility, critics say bitcoin is far too unstable for use in poor populations. See more from Benzinga Is The Euro's Decline A Good Reason To Invest? Oil Train Derailments Muddy Railroad Sector Earnings Marijuana Investment: Is It Time? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || U.S. sharply reduces Silk Road's estimated sales volume: (Corrects identification of federal sentencing guidelines to money laundering from drug trafficking in paragraph 4. Corrects paragraph 6 to correct characterization of the criminal sentencing guidelines as relevant to the money laundering charge, not the drug trafficking charge. Corrects information about recommended terms to indicate they can vary in length according to criminal history.)
By Emily Flitter
NEW YORK, Jan 16 (Reuters) - When U.S. authorities announced the arrest of Silk Road creator Ross Ulbricht in October 2013, they made a startling claim: the online black market had seen an estimated $1.2 billion in illicit sales since its inception.
This week, however, as Ulbricht's criminal trial began, prosecutors significantly scaled back that figure, saying Silk Road had actually seen an estimated $200 million in drug sales, which comprised 95 percent of all sales on the website.
The revision could be good news for Ulbricht, who has admitted creating the site, where users could buy drugs and other illegal goods using the digital currency Bitcoin, according to former federal prosecutor Jeffrey Alberts.
Since advisory federal sentencing guidelines for money laundering take into account the size of the scheme, the reduced sales figure would put Ulbricht's offenses into a different category under the guidelines, said Alberts, who is now a partner at law firm Pryor Cashman and is not involved in the case.
Ulbricht, 30, is facing a seven-count indictment for offenses including money laundering, computer hacking and conspiracy to commit drug trafficking. He could face life in prison if convicted on all counts.
But taken on its own, a conviction on the money laundering count would elicit a recommendation for prison time for an operation larger than $400 million, as prosecutors originally estimated, that would be longer than the recommendation for a scheme netting between $400 million and $200 million, or one just under $200 million. The specific number of months or years recommended would also depend on other factors such as criminal history.
Ulbricht's lawyer declined to comment.
The change in Silk Road's estimated sales volume is not, however, entirely due to fluctuations in the value of bitcoins, which have actually increased in price since prosecutors filed the criminal complaint against Ulbricht on Oct. 2, 2013. Back then, one bitcoin was worth $125 but they are trading at around $205 today.
While formulating the complaint against Ulbricht, prosecutors arrived at the $1.2 billion figure by looking at the total value of bitcoins obtained through sales on the site, according to the complaint.
But after combing through Silk Road's files, they recalculated the total by adding up the value of individual drug sales according to the price of bitcoins at the time of each transaction, arriving at $200 million, according to the U.S. Attorney's Office.
Adjustments like this one are common, Alberts said. The more precisely prosecutors can calculate the size of an illegal operation, the less likely defense lawyers are to contest the estimate during a sentencing hearing.
Another advantage to the revision: it is a number that will not change even if bitcoin prices do.
The case is U.S. v. Ulbricht, U.S. District Court, Southern District of New York, No. 13-06919.
(Reporting by Emily Flitter; editing by Noeleen Walder and G Crosse) || Market Uncertainty Is A Golden Opportunity For Some: On Friday, gold prices rose as investors waited for U.S. non-farm payrolls data to deliver a clearer picture of the Federal Reserve’s timeline for a rate hike.
The commodity has seen a marked increase over the past week as uncertainty around the globe has driven traders to seek security.
Greek Woes
The eurozone has been a major driver of market worries this week as Greece’s newly elected government continued to be at odds with the nation’s creditors.
Despite reports that the two sides were willing to negotiate, the European Central Bank announced that it would no longer accept Greek bonds in exchange for funding unless Prime Minister Alexis Tsipras is able to strike a deal with the troika over Greece’s bailout program.
Since Tsipras has been very vocal about his plans to reverse Greece’s previously agreed to bailout conditions, many worry that the nation will eventually be forced to exit the eurozone.
Mixed U.S. Data
Data from the U.S. has clouded estimates for the U.S. Federal Reserve’s rate hike, something that has been positive for gold.
Although the bank was initially expected to raise rates early in 2015, many believe the Fed will push back its decision to tighten until the U.S. economy is on more stable ground.
ECB Steps Away From Greece, Markets Sink
The stronger dollar coupled with weak foreign growth widened the U.S. trade deficit in 2014, causing many to lower their expectations for U.S. GDP. If Friday’s non-farm payrolls report underwhelms, gold prices can be expected to rise even further as a weak figure would likely keep expectations for a rate hike at bay.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || A Florida couple recorded their vows into the Bitcoin blockchain in the first 'Bitmarriage': (Consider This!) David Mondrus “A diamond is forever, a marriage is forever, but when was the last time anyone looked at their wedding vows?”
Entrepreneur David Mondrus posed that questionto the New York Timesin explaining why he and his wife, Joyce Bayo, have added their wedding vows to the Bitcoin blockchain — the secure public ledger where all bitcoin transactions are recorded.
The couple met in the Philippines. Bayo "stole his heart when she fed him pineapple on a boat," according to the press release the couple put out toexplain their blockchain vows.
The couple recorded their vows using a bitcoin ATM at Disney World last fall during the the Kingdom Bitcoin Conference. According to the release:
Blockchain marriages are ideal for couples who want to record their commitment to each other in a secure and permanent place, but whose relationship may not fit the current governmental system, or any governmental system at all. Some examples might be gay couples or polyamorous groups whose idea of marriage may not so easily conform to the current rules set by governments. Officiating this first Bitmarriage will be Jeffrey Tucker; author/publisher, and the founder of Liberty.me.
Media was invited to the wedding in the press release.
Business Insider is bummed to have missed it.
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[Random Sample of Social Media Buzz (last 60 days)]
In the last 10 mins, there were arb opps spanning 23 exchange pair(s), yielding profits ranging between $0.00 and $58.19 #bitcoin #btc || buysellbitco.in #bitcoin price in INR, Buy : 15143.00 INR Sell : 14669.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || Current price of Bitcoin is $194.00 || BTCTurk 563 TL Koinim 584.88 TL CampBx 226.08 $ BTCe 221.994 $ BitStamp 224.00 $ SCounter #Bitcoin #btc http://bitcoindunyasi.com || BTCe Prices
LAST: $243.00
BID: $242.31
ASK: $243.00
VOL: 15979.32 BTC
http://bit.ly/Cryptoticks || LIVE: Profit = $91.82 (0.32 %). BUY B119.50 @ $243.00 (#BTCe). SELL @ $244.57 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || LIVE: Profit = $372.94 (1.00 %). BUY B163.45 @ $228.72 (#BTCe). SELL @ $230.68 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || One Bitcoin now worth $248.50@bitstamp. High $254.56. Low $245.00. Market Cap $3.452 Billion #bitcoin || In the last 10 mins, there were arb opps spanning 17 exchange pair(s), yielding profits ranging between $0.00 and $2,256.80 #bitcoin #btc || BTCe Prices
LAST: $228.60
BID: $228.60
ASK: $229.00
VOL: 26044.62 BTC
http://bit.ly/Cryptoticks
|
Trend: down || Prices: 281.89, 286.39, 290.59, 285.51, 256.30, 260.93, 261.75, 260.02, 267.96, 266.74
|
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 2017-08-14]
BTC Price: 4325.13, BTC RSI: 81.70
Gold Price: 1284.20, Gold RSI: 66.43
Oil Price: 47.59, Oil RSI: 47.61
[Random Sample of News (last 60 days)]
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
Keep up with the latest need-to-know crypto and financial news in real-time withBenzinga Pro.
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© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Cryptocurrency ICOs Are Making Bitcoin Startups Richer than VCs Ever Did: When initial coin offerings emerged as a new way for startups to raise money a few months ago, there was much speculation—and some doubt —about whether the cryptocurrency crowdfunding method could disrupt or even replace the traditional venture capital industry . Now, the early numbers are in, and there is no question that ICOs , an unregulated form of fundraising by which companies can sell their own form of digital currency or tokens to investors, are winning this race, at least in the blockchain industry. ICOs have now raised nearly four times as much money as bitcoin companies raised in venture capital dollars so far this year. That’s according to PitchBook, which tallied up the latest numbers: ICOs have raised almost $1.3 billion in 2017 so far, while only about $358 million in traditional VC money went to blockchain startups over the same period. And that’s at a time when venture capital is booming among blockchain companies. Last quarter was the best quarter for blockchain and bitcoin VC funding on record, more than doubling the amount raised in the first quarter and up 89% year over year, according to CBInsights. But ICOs are growing much faster, having already raised almost six times as much this year as they raised in all of 2016. Now, a fundraising method that you likely had never heard of until a few months ago is on track this year to exceed all prior VC investment in blockchain, which has totaled a cumulative $1.7 billion over the past eight years, PitchBook says. To underscore just what a whirlwind trend this has become, even entrepreneurs doing their own ICOs are astonished by the craze. At a panel discussion hosted by BlockchainDriven Thursday night, Morgan Hill, an investor at Attis Capital, announced that he was launching a new cryptocurrency hedge fund called AxionV in August. But unlike the crypto hedge fund startup MetaStable , which recently received funding from Sequoia, Andreessen Horowitz, Founders Fund, Union Square Ventures and Bessemer Venture Partners, AxionV has a different plan. It will do an ICO itself, targeting a $30 million fund, which it will then use to invest in other ICOs, Hill said. He also told a story of another hedge fund manager in London who was planning to launch an ICO of a company that aims to put the entire Quran online, and use the new cryptocurrency to compensate people who contribute to the digitization of the religious text. Hill’s take: “The first thing I thought was, this is categorically insane.” He later came around, he said, acknowledging “religion is a very important piece of information” and that the project “actually does provide a huge value.” || Bitcoin's explosive gains could spell good news for stocks: (A trader works on the floor of the New York Stock Exchange shortly after the opening bell in New YorkThomson Reuters)
Bitcoin is trading at a record high on Monday, up 3.92% at $3,356 a coin.
It has gained about 80% over the past month, shaking off fears that aforkin the cryptocurrency would cause its price to plummet.
These kinds of astronomical gains in bitcoin, it turns out, are correlated with a strong showing by stocks too, according to Nautilus Investment Research.
To be more specific, the firm says that of the 18 previous instances when bitcoin returned at least 30% in a month, the S&P 500 was higher 15 times two months later and 17 times three months out, averaging gains of 3.61% and 4.66%, respectively.
What explains this? Nautilus doesn't offer a reason, but it does note that it could just be that bitcoin is a "barometer for animal spirits in the markets."
In other words, when traders are going nuts about a highly-speculative investment like bitcoin, that same risk-loving attitude might turn up among the folks who trade stocks. What we can't know from this is whether one affects the other, or if there's something else driving strong demand for both.
Though Nautilus only has 18 points of reference, it's worth noting that these go all the way back to 2010, so the backdrop for the rallies — the strength of the economy, investor sentiment, and Trump — haven't all been the same. Of course, bitcoin hasn't been around that long so we don't know how this correlation will hold up in the long-term.
Bitcoin has had a blazing start to 2017. Through the first seven-plus months of the year it has gained 257%.
(Nautilus Investment Research)
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Just when you thought you had your head around bitcoin, along comes ethereum.The word has been in a lot of headlines lately — as the cryptocurrency world's new favorite thing soared in value. To be more specific, the price of something called an ether token is up over 3,000%.Bitcoin, which is a far more widely known digital 'currency', is up about 141% so far this year.
But what exactly are ether tokens and ethereum? And how is it different than bitcoin? We've broken it down for you.
The reason you've been hearing about bitcoin for years, but ethereum only recently is that the latter was only developed two years ago while bitcoin has been around for almost eight years. Ethereum was created byVitalik Buterin, a young programmer who was told about bitcoin by his father and decided to create a similar platform for smart contracts; which bitcoin is not designed to do. The Moscow-native began working on ethereum after he dropped out of college, according toCNBC.Ether tokens and bitcoin are cryptocurrencies because they can be only be bought and sold digitally, are used to pay for things (includingpre-school tuition). They fall outside of the control of central banks and other government entities that might control a national currency.They're built on a technology called blockchain. That's a kind of ledger that recordsand verifies transactions made on it. All transactions made on these so-called decentralized networks are public and not controlled by one governing entity. Lately, the idea that both sides of a party — say two banks that buy and sell shares from each other — can get an accurate and verifiable record of the transaction instantly,has gripped Wall Streetand other institutions as something that can be used in lots of ways.
There are multiple ways you can acquire ether tokens. You can buy them on an exchange just like you would any investment. Or you can use a computer to "mine" for them by solving complex math problems using special software. These math problems get more complex as more tokens are mined, in order to control the supply.There's a key difference between ethereum and bitcoin. Bitcoin was designed to be a currency from the start.But Buterin conceived of ethereum as a platform on which two parties could enter into a contract without a third party, according to Paul McNeal, a Bitcoin Evangelist and long-time cryptocurrency investor.
These so-called smart contracts create trust between two parties. The ethereum platform is powered by ether tokens, according toThe Huffington Post, and can be used as both a currency and can "represent virtual shares, assets, proof of membership, and more." Its numerous applications are partially responsible for its popularity and recent rise.
(Ether was on track to usurp bitcoin.Charlie Shrem)
In June, ethereum was positioned to surpass bitcoin as the world's largest cryptocurrency by market cap, according toCoinDesk. Ether currently trades at $233, but in mid-June it was trading at nearly $400. It's market value got close to 82% of bitcoin's. That number has since shrunk to less than 70%.
Its upward march was underpinned by a spike in interest by big Wall Street and tech firms into the cryptocurrency. According to CoinDesk, JPMorgan Chase, Microsoft, and a number of other firms joined forces in February to create theEnterprise Ethereum Alliance. The collaborative venture aims to use the ethereum platform to integrate blockchain solutions into their infrastructures.
Asurvey recently cited by Nathaniel Popper in The New York Timesindicates that businesses are far more bullish on ether, and the future usage of ethereum, than bitcoin. Almost 94% of surveyed firms said they feel positive about the state of ether tokens. Only 49% of firms surveyed had a positive feeling about bitcoin.
MGT Capital, the company run by John McAfee, is one such firm. It said it would start tomine ethereumin its latest bid to turn a profit."We are more convinced each day of the growth and value of digital currencies, and our company is uniquely positioned to be a leading provider of processing power to relevant blockchains," McAfee said in a statement.
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For most of us, these four companies constitute the Internet universe that we venture into for our personal use. But beyond this level of the Internet are zones where terrorist groups do their most serious business. Those whom we might call "top-level terrorists"--among them the leaders of Islamic State (IS) and Al Qaeda and their subsidiaries--survive because they are quick to adapt to changes in the physical and virtual battlespace. For some of their online communication, this has meant moving from the easily accessible "surface web" to the "deep web" and then on to its deepest part, the "dark web." This is where one can find drugs, pornography, weapons, and other contraband. The dark web is out of reach of the most common search engines, such as , and is difficult for hackers to penetrate. IS warehouses its propaganda videos and other material on dark sites, and has raised and transferred money using the dark web's currency of choice, Bitcoin. Similarly, IS has relied on Telegram, one of the encrypted communication tools that provides enhanced security for texts and other messaging, to relay instructions to its supporters, such as how to find a particular dark web address. In 2015, Telegram began featuring "channels" for specialized content, which IS promptly started using. During one month in 2016, 700 new IS-related channels were opened . One such channel was "Mujahideen Secrets," which provided indoctrination and information for prospective "lone wolf" terrorists. Story continues Another challenge the Global Internet Forum faces is in its effort to produce counter-messaging that is effective in offsetting terrorist recruitment and fundraising. IS has been particularly successful in making the case that Islam is under siege by the West, and that the poverty and discrimination many Muslims encounter justify violent action. The harsh exigencies of life in suburbs of Paris and Brussels have more power to convince than do even the most rational pleas to renounce violence. Since the 9/11 attacks, the U.S. government has tried various counter-messaging themes and formats, but it remains unclear how successful these efforts have been. Until terrorism prevention campaigns address issues such as jobs and housing, terrorist groups will find plenty of recruits. The tech giants must recognize the difficulty of establishing credibility (especially because they are American businesses) if they are to undermine the likes of Islamic State. The roots of terrorism run deeper than weak appeals for peace. Philip Seib is a professor at the University of California's Annenberg School. His book, As Terrorism Evolves , will be published in October. See original article on Fortune.com More from Fortune.com Four Tech Giants Team Up to Fight Terrorism Germany Plans to Fingerprint Children and Spy on Personal Messages Facebook's EMEA VP Defends Its Fight Against Extremist Content These Countries Want Police To Have Speedier Access to Tech Firm Data Theresa May Can't Just Blame the Internet for Terrorism || Alleged hackers behind NotPetya cyberattack demand $260,000 bitcoin ransom: The ransom is on the move. The Bitcoin wallet controlled by the NotPetya attackers showed surprising signs of life over the Fourth of July holiday weekend, with approximately $10,000 in paid ransom disappearing from the account. Around the same time, a message purporting to be from the culprits behind the maybe-ransomware attack surfaced — demanding 100 bitcoin in exchange for a key they say can unlock encrypted files. SEE ALSO: It won't be easy for WannaCry hackers to get their cash At the time of writing, 100 bitcoin is worth approximately $260,000. "Send me 100 Bitcoins and you will get my private key to decrypt any harddisk (except boot disks)," read the message posted to Pastebin . "See the attached file signed with the key." As NotPetya, which first surfaced in Ukraine on June 27, has been shown to damage an infected computer's master boot record, the person behind the message is only claiming to be able to decrypt specific files — not entire systems. Still, that ability could be a godsend for companies struggling to restore lost data, assuming the ransomer is telling the truth. The new demand was posted on July 4, the same day ransom payments made in the hopes of obtaining decryption keys were moved from the Bitcoin address listed in the initial NotPetya attack to another wallet. The message displayed by NotPetya. Image: SYMANTEC No new Bitcoin address was listed for payments should anyone decide to actually fork over the 100 bitcoin. However, a link was provided to a chatroom for the purpose of getting in touch with the hackers and presumably arranging payment. Motherboard exchanged messages with someone claiming to be one of the hackers, who told the publication the key for sale would "decrypt all computers." So, should organizations desperate for their data pay up? It's a tough question. Security researchers have more or less reached a consensus that the intention behind NotPetya was to damage cyber-infrastructure, not to make money. As such, the calculus for victims is different than it would be with a more traditional form of ransomware. Either way, this latest series of developments — the transfer of funds between Bitcoin wallets and the new demand — serves to further muddy the waters behind the NotPetya attack. It also makes one thing clear: The story of the latest ransomware scourge to sweep the globe is not over yet. WATCH: Step inside the secretive class that turns people into hackers Https%3a%2f%2fblueprint api production.s3.amazonaws.com%2fuploads%2fvideo uploaders%2fdistribution thumb%2fimage%2f80316%2ff500b367 c74e 4fa7 97cd cde8f19f3003 View comments || Ransomware Attack on DLA Piper Serves as Warning Sign for Law Firms: By now, every managing partner has heard the warning: Law firms and their clients' sensitive information are a treasure trove for hackers.
But theransomware attack Tuesday on DLA Pipersounded a different type of alarm for Big Law. The world's biggest firms are just as prone to ransomware attacks as any other company, and thepotential ramificationsof a network-crippling malware infection are wide-ranging for a service industry thatholds the legal fate of corporationsin its palm.
Consider litigators unable to access motions on a deadline. Trial lawyers preparing for arguments without key documents. Transactional lawyers unable to communicate with clients attempting to close multibillion-dollar deals.
The domino effect of doing something like this to a law firm permeates so many different parts of business, said John Sweeney, president of LogicForce,a startup cybersecurity consulting firm. Suffice it to say, it's going to touch hundreds if not thousands of different points of business, and not only in the U.S. It's a nightmare, there's no doubt about it.
Phone lines at DLA Piper were down Tuesday across Europe and the U.S. According to aphoto tweeted by Politico reporter Eric Geller, DLA Piper employees in Washington, D.C., were instructed not to turn on their computers and to unplug their laptops from the network.
All network services are down, a whiteboard read in what appeared to be the firm's lobby.
A DLA Piper spokesmanconfirmed the firm had been the targetof what it believed may be a malware attack that on Tuesday had impacted a large number of organizations across the globe, includingpharmaceutical giant Merck & Co. Inc.
The firm, like many other reported companies, has experienced issues with some of its systems due to suspected malware, said DLA Piper's statement. We are taking steps to remedy the issue as quickly as possible.
Much like theWannaCry ransomware attack that spreadthroughout the globe in mid-May, the new round of attacksreportedly requests a payment of $300 in Bitcoinin order to obtain a decryption code that may unlock an organization's files.
While security experts were still scrambling Tuesday to determine the extent of the encryption or any other damage levied by the newest batch of ransomware,at least 27 organizations appeared to have paidthe ransom as of early Tuesday, according to a blockchain transaction record.
A study released Tuesday by LogicForceshows the ubiquitous risk of hacking for law firms. The company surveyed more than 200 firms and found that all had been subjected to hacking attempts, while 40 percent of those attempts were successful. What's more, the 40 percent of firms who had been hacked were unaware of it, according to the report. Sweeney said DLA Piper was not included in his company's survey.
In response to being hit by ransomware, Sweeney said firms should perform a detailed investigation of their systems involving forensics professionals to determine how the ransomware attack entered their network. Part of that investigation should including attempting to mitigate any more damage that could occur.
The best-case scenario in some ransomware attacks would be having an incident response plan in place that involves an off-site server back-up that could potentially restore the systems' computers, said Robert Rosenzweig, another cybersecurity expert and national leader of the cyber practice at insurance brokerage Risk Strategies Co.
LogicForce's Sweeney commended DLA Piper for issuing a public statement about the ransomware attack, something few law firms have done or been forced to do.
Can they circumvent whatever's been done to their systems and get back online? I don't know. That would be the best option, Sweeney said.
One fallout from the attack may be a renewed interest from law firms inpurchasing cybersecurity insurance. The LogicForce survey states that 23 percent of firms polled had cybersecurity insurance policies. Those policies will pay for direct expenses associated with a hack, such as the cost of the ransom; hiring forensic investigators; and bringing on a legal team to advise the firm of its potential risk.
For damage done to clients as a result of a firm losing its ability to service them or their confidential data getting into the wrong hands, it is possible a firm would have coverage under a more traditional legal malpractice insurance policy, Rosenzweig said. He said a business interruption component in a cybersecurity policy may also provide some relief, but added that a loss of a law firm's ability to service its clients due to a cyber breach could have long-tailed repercussions.
The risk and the potential for a complex and expensive loss is a lot more significant, Rosenzweig said.
The increased risk of ransomware attacks may also cause more law firm clients to perform cybersecurity audits as part of their hiring process, said LogicForce's Sweeney. His firm's report states that 34 percent of firms reported undergoing a cyber audit from a client, and LogicForce expects that number to grow to 65 percent by 2018.
More and more clients are demanding these audits, Sweeney said. And quite frankly we're seeing some law firms losing business because they can't comply with the audit.
Roy Strom, based in Chicago, covers the business of law with a focus on how the Big Law business model is changing. He can be reached at rstrom@alm.com. On Twitter: @RoyWStrom. || Ossia thinks it's licked the problems with through-the-air charging: – Shocker: The world is going wireless. We eliminated the wires that transmit sound. Pictures. Text. Data. Now, there’s only one major cable left to ditch: the power cord. That’s the dream, right? Your phone charging all day, in your pocket. Your smartwatch always juiced up without leaving your wrist. Thinner, lighter, more shapely gadgets, freed from the obligation to contain a huge blocky battery. Plenty of companies are working on through-the-air charging for consumer electronics. But none have products on the market, and plenty of people (and investors) are skeptical that the concept will ever work. Too many safety, efficiency, and regulatory obstacles, they say. (Here, for example, is my investigation of the Energous distance-charging technology .) Another startup, called Ossia, thinks that it may have licked all three problems. Ossia hopes to have wireless distance charging on the market within 12 months How Ossia’s system works Like its rivals, its system (called Cota) involves a transmitter, which will someday be built into walls or ceilings, and a tiny receiver, which will someday be built into our phones and other devices. The transmitter tile (left) and the receiver prototype. (Cleverly enough, Ossia has also packed its receivers into AA batteries, so that our smoke detectors, thermostats, remote controls, toys, and game controllers can charge wirelessly, too.) Hatem Zeine shows off a AA battery that can recharge through the air. Energous, as I reported earlier, works by beam forming: Its transmitter contains hundreds of tiny antennas that focus on your phone. But Ossia founder Hatem Zeine says that beam forming isn’t nearly targeted enough. “The signal is as wide as the emitter,” he says. “It never gets any smaller. Your device will get some power, but so will all the environment around it. Your whole body would be receiving power.” His solution also involves thousands of tiny antennas. But his breakthrough is a clever call-and-response system that tells the transmitter where to send its power. Your phone pumps out a beacon signal: “a very short pulse—microseconds. It says, ‘I’m device A7374; I would like some power.’” This beacon signal reflects off of walls, windows, and people. (The power of this signal, Zeine says, is 1,000 times weaker than Bluetooth.) Story continues Each antenna in the transmitter receives that beacon signal from all of those paths, including the direct line-of-sight signal, if available. Now the transmitter knows where your gadget sits—and it sends power right back through those same paths. In other words, Zeine says, “non-line-of-sight charging is therefore possible. If line of sight is available, we’ll use it. But if not, we’ll use the other paths. We’re going to just play back the incoming beacon path.” Since the phone pumps out 100 beacon signals per second, it’s OK if it’s moving around the room in your pocket. The power beam stays locked on it. So how much power are we talking about? “The power is proportional to the area of the transmitter,” Zeine says. “We can charge a phone with 1 watt at three to six feet with a single [transmitter] tile. But we can also install multiple tiles—for example, in a ceiling—to cover a conference room or an airport gate. That way, we could charge eight phones at the same time in an area of 15 to 30 feet.” The demo To prove that Cota works, Zeine brought one tile, two feet square, to the Yahoo office. He also had a palm-size receiver containing a USB jack. I plugged an unprepared Android phone into it—borrowed from Alan, our sound man—and sure enough, it began charging. The receiver box was about five feet from the transmitter. We also tried a Samsung smartwatch. We plugged its charging stand into the Ossia wireless receiver—and sure enough, the watch unmistakably began to charge. But how could I test Zeine’s claim that Cota doesn’t need line of sight—that it’s constantly reconfiguring its beam path? After all, you can’t see the power beam, right? To solve that problem, Zeine produced a tiny detector paddle. It lights up only when it’s in the beam’s path. The paddle’s LED shines when it’s in the power’s path. By moving the paddle up, down, left, and right, and watching when the LED illuminates, I could very clearly see the path from the transmitter to the receiver. It was like using a candle flame to detect the stream of moving air from a fan. The paddle lit up whenever it intercepted the imaginary line between the transmitter and receiver—obviously. But when I stepped in between them and held the paddle in front of me, the light went out—yet the receiver was still receiving power! (How did I know? First, because the receiver has its own indicator light. Second, if we put the paddle next to the receiver, it lit up again.) Clearly, the power signal had found a new path around me—probably by bouncing off the walls and the ceiling. You can see all of this in the video above. When I stood in the way, the power signal found a path around me. If you’re clever, you’re already seeing the downside of this arrangement: It works only indoors. If you’re outside, there’s nothing to reflect the signals, and so the “no line of sight” feature goes away. Sorry about that, campers. Ossia’s future Ossia doesn’t intend to manufacture anything. Instead, it will license its technology to electronics makers. Before it can do that, of course, it must receive the FCC’s approval, which is a looming obstacle for any wireless-tech company. “We’ve shown that we can meet all the FCC’s requirements. Of course, there’s a lot of work we have to do. We don’t have a product—this is not going to market yet. But once these steps are completed, we will see products on the market. We believe that this is within 12 months from today.” Zeine admits that the doubts and troubles faced by his competitors have made the whole industry look bad. (An ex-engineering executive from rival uBeam, for example, said that uBeam’s technology is basically a hoax .) All of that makes his job harder. “People are very skeptical. But it’s also good, because it has created a lot of publicity for the wireless power market,” he says. “What others do, good luck to them. But we are the only company that’s demonstrated its product in public. We’ve also tested for safety. So we know that our technology can deploy. It’s not is a matter of if. It’s a matter of when—when we complete all the regulatory requirements, and so on.” In any case, he’s convinced that through-the-air charging will, one way or another, become a thing. “In a few years’ time, it will be like Wi-Fi. You’ll have it at the office, at home, in the car, on the plane, the coffee shop, et cetera. You won’t need to carry a 600-hour standby battery and a 12-hour talk-time battery. You’ll need maybe a one-hour talk time battery and a 50, 60-hour standby battery, because you’re getting power all the time.” Your phone will be thinner and more powerful, because its processor and screen can be brighter and faster. Why is he so confident? Because analysts estimate that by 2020, we’ll have a trillion Internet of Things gadgets—smart devices—in our homes. “And anything with the word ‘trillion’ in front of it is going to be lucrative,” Zeine points out. In case you were wondering, Ossia isn’t some nonsensical made-up word. In Latin, it means alternative. If you’re a musician, maybe you’ve seen sheet music examples like this one, where “ossia” offers an alternative, usually less difficult line to play or sing: In the musical world, “ossia” denotes an alternative to play. It’s a great name for Hatem Zeine’s technology—both because the whole thing presents an alternative way to charge things, and because the power is constantly finding alternative paths to your phone. Now let’s just hope it finds a path to our phones and gadgets. More from David Pogue: Is through-the-air charging a hoax? Electrify your existing bike in 2 minutes with these ingenious wheels Marty Cooper, inventor of the cellphone: The next step is implantables The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogue’s search for the world’s best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’s davidpogue.com . On Twitter, he’s @pogue . On email, he’s poguester@yahoo.com. You can read all his articles here , or you can sign up to get his columns by email . || Alphabet's Nest Cam IQ recognizes burglars' facesfor a steep price: Overall, the Internet of Things revolution has been a bust. You knowall those coffee makers, garage-door openers, and washer-dryers that we can control with apps on our phones. Only a couple of categories seem even worth messing with: internet-connected thermostats, and home security cameras. Meet the WiFi home security cam. These are tiny WiFi cameras that you can plunk around your houseand then spy from your phone, wherever you go in the world. You can see whos at the front door, see if the babys awake, see if the nanny is overfeeding your kids, or monitor your home for motion when youre not paying attention. Two years ago, Nest, which is a part of Google parent Alphabet ( GOOG , GOOGL ), introduced the Nest Cam ($200), which was a tweaked-up version of the former Dropcam, which Nest had bought for $550 million. Feel free to re-read that sentence. The Nest Cam was a fine product, soon joined by a weatherproof model, Nest Cam Outdoor. In addition to the usual functionletting you see whats going on back at home, and alerting you when theres motionthey also have two-way audio, so that you can yell at the room by remote control when you see something amiss. You know: Xerxes, DOWN! Off the couch. DOWN! The Nest Cam IQ has a tilting neck and a speaker on the back. Now theres the Nest Cam IQ, which raises the price by 50% to a nose-bleedy $300. (The earlier cameras remain available.) That extra $100 buys you improved picture and sound, plus facial recognition. That is, the camera learns what people in your home look like, using the same facial algorithms found in Google Photos. At that point, it can alert you only when a stranger is poking around your house. This camera doesnt waste your time when it spots family members. Whats the same As with the other Nest Cams, this one is super easy to set up. You create a Nest account, plug in the cameras 10-foot power cord, and then use your phone to scan the barcode on the bottom of the camera. Suddenly, its set up. Its current camera view appears right in the same Nest app that you use to control your Nest thermostats and smoke detectors. Story continues The cameras image shows up in the same app that controls Nest thermostats and smoke detectors. As before, you cant actually make the physical lens move by remote control to pan around the room, as you can on some rival products. But you can pan and zoomwith your fingers on the screen. Since the cameras view is 130 degrees, you can actually see the entire room at once, and then zoom and pan to any part of the room. Better yet, the new camera is actually a 4K camera, meaning that it has four times as many pixels as high definition. That feature doesnt help with spying on your home or playing back recordings, since all of that still takes place in 1080p hi-def. It is useful when youve zoomed in with your fingers. A special button (hidden, alas, until you tap the screen) at that point harvests the extra pixels to sharpen up the image. Im guessing it works best if you shout Enhance! as you tap, like they do on TV. The 4K camera pays off when you want to zoom-and-enhance. The 4K sensor also makes possible Supersight, a feature thats supposed to auto-zoom and auto-track a face as it enters the frame, with the original full-room view as an inset. SuperSight is supposed to pan and zoom to follow the intruder. In practice, its more like not-so-Super Sight. Sometimes it doesnt kick in at all. Sometimes it pans so aggressively in the direction the thief is walking that it pans right past him. Seems like its expecting the evildoer to move at just the right speed, or it doesnt really work. As before, the picture and sound are delayed by a couple of seconds. Dont try to practice your comic timing with the folks back at home over the Nest Cam. The clarity of the image (and the sound), on the other hand, are terrific. Thanks to night vision, you even get 15 feet of incredible clarity in total darkness. Notifications The original Nest Cam used to go off too often, triggered by cats and dogs, cars outside the window, and so on. It became the security camera that cried wolf; you wound up ignoring the notifications, or turning them off. The IQ still sends a lot of false positives, but the facial recognition really helps. In the first week of using the new camera, the phone app shows you the faces of people it spots passing through the room. Youre asked, Do you know this person? for each one. There will be repetitions during those first days, but eventually, the app will know whos entitled to be in your home, and whos not. During the first week with your Nest, it tries to learn your familys faces. And sure enough: the IQ now lets you know only when someone un authorized is in your home. Its a brilliant, important feature. It is not, however, a Google invention. The Netatmo Welcome camera was the first with facial recognition (and, soon, dog and cat recognition)and it costs $100 less. The subscription news All of the spying fun youve read about so far is free. Unfortunately, you have to pay a monthly fee to get the good stuff . Its $10 a month, or $100 a year. Heres what that gets you: Continuous, 24/7 recordings of everything thats happened in your house, going back 10 days. Either on the phone or on the Nest website, you can catch something you missed with the camcorder, like your babys first steps or a pets funny trick. Freeze the frame on whoever keeps spilling food on the couch. Settle an argument (or prolong one) by proving who brought the subject up first. (Without the subscription, you get only a three-hour rewind window.) Share clips of all that, or make time-lapse videos of it Notifications of audio events like a dog barking or people talking Notifications when familiar faces are spotted Activity zones: Up to four parts of the room that you want the camera to ignore or pay particular attention to. (Unfortunately, facial recognition doesnt respect these zonesits always onso faces on a TV trigger alerts.) (At least standard Ive spotted a face! notifications are now included. The previous Nest cameras required a subscription even for that feature.) Ill just say it: I cant stand monthly subscriptions. Theyre an unnecessary money gouge. Especially when you remember that you need one subscription for each camera (although additional subscriptions are half price). Besides, plenty of rival cameras also store your recordings online for free, or onto a memory card. And some of them have cool features that the Nest doesnt. And none of them cost as much: Netgear Arlo Pro ($228): Wireless and battery powered or wired. Weatherproof. Multi-camera discounts. Seven days worth of footage storage online for free; 30 days worth for $10 a month. iControl Piper nv ($270) : No subscription plans (records 1,000 motion-triggered clips online for free), but no continuous recording, either. Also tracks outside temp and humidity levels, and issues weather warnings. Acts as a hub for smart-home devices. D-Link DCS-2530L Full HD 180-Degree Wi-Fi Camera ($132): Records to a memory card, so no subscription necessary. Samsung SmartCam PT ($160): You can pan and tilt the camera from afar, with auto-tracking of a person in the room. Records to a memory card, so no subscription necessary. Privacy mode: When youre home, camera aims down and shuts off. Netatmo Welcome ($200): Face recognition. Stores clips on a memory card (no 24/7 recording). Make no mistake: The Nest Cam IQ is a fantastic home-security camera. Simple to set up, easy to use, super smart facial recognition, and the best picture and sound on the market. For its core function, its among the best home-security cameras you can buyand buy, and buy, and buy. Correction: This post originally stated that Nest is owned by Google. In fact, it is owned by Google parent Alphabet. The error has been corrected. More from David Pogue: Electrify your existing bike in 2 minutes with these ingenious wheels Marty Cooper, inventor of the cellphone: The next step is implantables The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogues search for the worlds best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, hes davidpogue.com . On Twitter, hes @pogue . On email, hes poguester@yahoo.com. You can read all his articles here , or you can sign up to get his columns by email . || Experts say Petya ransomware is just a ‘test’ for something much worse: A new ransomware attack , modeled after the recent WannaCry exploit, has hit thousands of organizations and users worldwide. But according to a handful of security experts, it’s only the tip of the iceberg. The ransomware attack, which encrypts users’ files and demands a ransom to unlock them, could just be a test attack, or cover for more malicious damage being done by the virus. Don't Miss : The most important accessory any AirPods user can buy ““I’m willing to say with at least moderate confidence that this was a deliberate, malicious, destructive attack or perhaps a test disguised as ransomware. The best way to put it is that Petya’s payment infrastructure is a fecal theater,” security researcher Nicholas Weaver told KrebsOnSecurity . His sentiments were echoed by “the grugq,” an anonymous security researcher who blogs about security issues. He highlights the same thing as Weaver, namely that the payment infrastructure for the virus is poorly designed. Normally, ransomware viruses demand payment in Bitcoin to a Bitcoin account that is unique to every victim. That makes it harder to track the Bitcoin, or for researchers to work out the identity of the attackers. Communication is normally done through the obfuscated Tor protocol, which relies on a distributed web of servers and is impossible for one organization to shut down. In this instance, however, the attackers had one single email address listed for communication. It was quickly shut down by Posteo, the German ISP responsible for the email account. That means that victims will not be able to communicate with the attackers to organize payment or receive decryption codes, effectively meaning any encrypted files will be lost forever, if backups aren’t available. “If this well engineered and highly crafted worm was meant to generate revenue, this payment pipeline was possibly the worst of all options (short of “send a personal cheque to: Petya Payments, PO Box …”),” the grugq explains. It’s suspicious that such a well-designed piece of ransomware would have such a bad payment system — unless, of course, the aim was never to make money. Story continues “This is definitely not designed to make money. This is designed to spread fast and cause damage, with a plausibly deniable cover of “ransomware.”, the grugq continues. Weaver confirmed this to Krebs , saying that Petya “appears to have been well engineered to be destructive while masquerading as a ransomware strain.” Attributing blame for cyberattacks is always difficult, but the high concentration of Ukranian victims — the attack was originally distributed through Ukranian tax software MeDoc — raises questions about potential Russian involvement. Trending right now: Scientists ‘can’t rule out’ collision with asteroid flying by Earth in 2029 Google Pixel phones of the future may have a feature you’ll never find on an iPhone Video: Porsche tries to keep up with a Model S and the result is embarassing See the original version of this article on BGR.com
[Random Sample of Social Media Buzz (last 60 days)]
BTC Real Time Price: ThePriceOfBTC: $2712.47 #GDAX;
$2715.27 #bitstamp;
$2701.00 #gemini;
$2687.97 #btce;
$2698.56 #kraken;
$2698.07 #itBit… || #Bitcoin #Bitcoinbet #BitcoinMining "Choose and pay. Choose. Choose the form of the destructor" Powered by…http://btf.st/Cloudbet || Bitcoin Cash will be the biggest transfer of wealth in crypto history http://dlvr.it/Pdjx4l #bitcoin || Free bitcoin faucet & dice game, Provably Fair Games. http://www.overcrave.com @altcoindicegamepic.twitter.com/vDECqppx7c || -=[ 477.638 ]=-
Txs: 2.341
Size: 999.217 bytes
Time: 1501063717
Miner: ViaBTC
Fees: ~2.00 BTC
Sig: bit1
Mempool: 5.339 txs || Bitcoin - BTC
Price: $2,737.85
Change in 1h: +0.54%
Market cap: $45,126,681,071.00
Ranking: 1
#Bitcoin #BTC || hepsi bitcoin üretimi için || Bitcoin API and Block Explorer https://www.ddddrffjj.com/analysis/bitcoin-api-and-block-explorer-1079/ … || Bitcoin vaults to new record above $4K, boosted by Japan and multiplying its value fourfold https://www.dub.io/s/324066 #etherusdpic.twitter.com/Jkn6xEUJdc || 1 #BTC (#Bitcoin) quotes:
$2504.01/$2506.79 #Bitstamp
$2470.00/$2477.64 #BTCe
⇢$-36.79/$-26.37
$2494.46/$2520.53 #Coinbase
⇢$-12.33/$16.52
|
Trend: up || Prices: 4181.93, 4376.63, 4331.69, 4160.62, 4193.70, 4087.66, 4001.74, 4100.52, 4151.52, 4334.68
|
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 2015-08-19]
BTC Price: 226.68, BTC RSI: 30.52
Gold Price: 1128.10, Gold RSI: 56.84
Oil Price: 40.80, Oil RSI: 25.51
[Random Sample of News (last 60 days)]
Is Russia Next To Adopt Bitcoin?: This week, Russian President Vladimir Putingave his opinionon bitcoin to the public for the first time. Putin hasn't been open about his view on cryptocurrencies in the past, but on Russia 24, the nation's domestic TV network, Putin was optimistic about bitcoin's future possibilities.
Putin Commends Bank Of Russia
Putin remarked that the Bank of Russia's efforts to explore applications for bitcoin have been beneficial and that the nation may find future use for the technology. In his view, cryptocurrencies still have major reliability issues, but the technology they run on may be useful to facilitate transactions down the road.
Related Link:Wedbush Predicts A Bright Future For Bitcoin
Still Reliability Issues
In his interview, he underlined the problems that bitcoin presents, saying that the fact that the currency isn't backed by anything represents a major issue with adopting cryptocurrencies. Though he said the nation isn't planning to reject cryptocurrencies, the issues related to using them can't be overlooked.
Not A No
Cryptocurrency enthusiasts took Putin's comments as a positive sign for the direction of digital currencies. Although he did not make any definitive statements regarding the Russian government's stance on using the currency, he appeared optimistic about the possibility of using blockchain in order to keep track of accounting records. Many had expected Putin to take a more firm stance against cryptocurrencies, so the fact that he didn't announce that they would be prohibited was considered a win.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Costas Inc. Is Pleased to Present Its Position on the Financial Technology Space: NEW YORK, NY--(Marketwired - Jul 6, 2015) - Costas Inc. ( OTC PINK : CSSI ) Costas Inc. (CSSI) or "Costas" has focused over the last year and invested heavily in Distributed Asset Technology; "DAT" is the systemic foundation to what is now known as Digital Currency "DC". DC has taken the world by storm and created a new class of asset. Quite simply, the world economy has evolved from gold and silver as the only accepted form of payment to paper currency and now DC has started to weave itself into the fabric of our global economy. The public generally associates DC with the market's preferred digital coin, Bitcoin. Bitcoin and its peers, have fascinating properties that Costas strongly believes will accelerate the speed at which a store of value can move regionally and/or globally. Decentralized currency without borders is now a viable option for consumers. DC and the institutions that bridge the gap between merchants, consumers and investors stand to capitalize exponentially as investment floods into the space. There are very few opportunities in the realm of DC available to investors through public markets. Investment in the space, to most, is out of reach apart from purchasing DC coins. Costas intends to create a portfolio of diverse DC businesses under its umbrella. Costas will offer a unique opportunity to invest in a cross-section of companies in what The Company believes is the most exciting investment vehicle made available in decades. Costas will acquire companies in full, or a take a significant position in a variety of companies, then facilitate their growth. Costas is also open to creating businesses by putting capable people together, giving them an equity stake and capitalizing them. In the event that there is no pre-existing company with whom to partner, Costas would create its own company to fill that investment vacuum. We are actively searching for strong innovative leaders with an entrepreneurial spirit to either join our board of directors or to offer their services to targets we are looking to acquire and thereby incentivizing them to partner with Costas. Story continues Costas, through its relationships, has the ability to raise capital for the companies it chooses to acquire or create. The management at Costas has built relationships with investment groups that focus on funding, incubating and growing potential business ventures. This network spans the globe and truly has very few limits. We feel confident we can pair any opportunity with the appropriate funds and management, preparing them for their entry into any competitive market. Safe Harbor Act Notice: Statements contained herein that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the company's ability to obtain additional financing and the demand for the company's products. Any investment in the company would be extremely speculative and involve a high degree of risk and should not be pursued unless the investor could afford to lose their entire investment. Before investing, please review this filing, all past public filings with the SEC, all current Pinksheets.com filings and consult a registered broker dealer or contact the financial industry regulatory authority ("FINRA") for more information regarding locating a qualified party to assist in making an investment decision. The company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the company's success are more fully disclosed in the company's most recent public filings with the U.S. Securities and Exchange Commission. Forward-looking statements are typically identified by the use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "should," "will," and similar words, although some forward-looking statements are expressed differently. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. About Costas Inc. Costas Inc. is a publicly traded company focused on investing in and incubating promising digital currency-based businesses and entrepreneurs by providing access to a global infrastructure of financial and legal professionals and investment groups. Costas identifies "Fintech" emerging companies that, with some incubation and professional experience, will become the next standard in banking, commercial trading and lending. || The most elite students in America have had it with investment banking: MBA Grad (flickr/willbeardphoto) Harvard MBA grads are no longer interested in banking. Harvard Business School graduates are some of the most sought-after new hires in the world. They're among the top choices for companies in just about every industry — including Wall Street investment banks. It turns out, however, many of them are no longer interested in that industry. Only 4% of the 2015 graduating class said they wanted to work at an investment bank, reports Bloomberg's Jennifer Surane . Of the 46 students in the top 5% of the class, only one expressed an interest in banking, according to the report. The report cited data from a member of the graduating MBA class , who blogged about the findings of a class survey he received from the university. Banking no longer sexy This may not come as a surprise. Entry-level jobs on Wall Street are notoriously grueling: Young people work 90-hour weeks perfecting pitch books, scrolling through spreadsheets, or making presentations . MBA grads, of course, would typically join banks at the associate or vice-president level. But many of them started out their careers as interns and analysts and may not have shaken the memories. The Harvard blog's author started out in M&A at Morgan Stanley, according to his bio . Now he's running a tech startup as well as a family healthcare business, Bloomberg reported. Industry veterans, too, know that banking is no longer as sexy. Ex-Credit Suisse managing director Fred Lanes said: "The opportunities elsewhere ... are more attractive outside of investment banking." And then there's the buyside That doesn't mean that bright Harvard MBA-holders are leaving finance altogether. Many young financiers, after putting in their time at investment banks, make the jump to the "buyside" — hedge funds or private-equity firms. The Wall Street Journal reported on Wednesday that many MBA students are now only interested in becoming activist investors like Bill Ackman or Carl Icahn. Ackman's Pershing Square even holds an annual investing competition at Columbia as part of its recruiting efforts. Story continues Ex-Merrill Lynch analyst and Financial Times writer Sujeet Indap published a study on Wednesday on where his banking analyst class from the year 2000 now work. Over half the class, he found, had taken a break at some point to earn graduate degrees, two-thirds of which were MBAs. More than 40% of the analyst class now work in private equity or in the hedge fund/investment management industry. Less than 20% still work at investment banks. NOW WATCH: The 10 trickiest Goldman Sachs interview questions More From Business Insider A 10-year-old cyber security company just raised $35 million from Goldman in its first series A This is one Wall Street business that big banks won't lose to upstarts and tiny rivals Bitcoin keeps surging, makes another new high for 2015 || Bitcoin Rewards Gain Popularity: While the general public may be hesitant to convert their existing money into bitcoins, some are betting that being rewarded with the cryptocurrency will prove more appealing. Bitcoin rewards are being used by some firms to get customer feedback or provide incentives for loyal use. The idea has been a step forward for the bitcoin community, as it gets digital currencies into the hands of more people who otherwise may not use it.
Microsoft
Microsoft Corporation(NASDAQ:MSFT)'s Bing search engine has launched a platform called Bing Rewards in which users can earn credits that are redeemable for things like gift cards and other products. The site is aimed at boosting the search engine's user base. In an effort to rope in the growing bitcoin community, Bing Rewards haslaunched a sweepstakesthat will enter participants in a drawing for $500 worth of bitcoin. The company's partnership with Tango Card is responsible for the offering, as Tango Card recently made a deal to incorporate bitcoin processing service SnapCard.
Related Link:Venture Capitalists Pouring Money Into Bitcoin
Qualtrics
Survey moderator Qualtrics is also using bitcoin as an incentive to get people to answer questions and participate in research. Again, Tango Card and SnapCard are behind the bitcoin offerings, which are given to survey participants. Qualtrics users are able to earn points by completing surveys and those points are redeemable for gift cards at retailers likeAmazon.com, Inc.(NASDAQ:AMZN) or they can be transferred into bitcoins.
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• Firms' Perks Competing To Attract Top Talent
• Google Pushes Back In EU Privacy Case
• Will Video Game Makers Profit In China?
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Fast Food Gets Even Faster In Asia: McDonald's Corporation (NYSE: MCD ) has had a difficult year as consumer tastes shifted and the restaurant battled criticism over its ingredients and lack of healthy offerings. However, the burger chain has been working to restore its bottom line, especially in China, where the massive population represents a major growth opportunity. Appealing To Their Preferences In an effort to reach Chinese consumers, who are becoming increasingly focused on digital innovation, McDonald's is piloting a new program that will allow customers to pay for their orders on their mobile device, making the process of collecting their meal in-store faster and easier. Custom Burgers The decision to include a mobile payment option in China came after McDonald's unveiled digital kiosks that allow customers to build their own burger using a touch screen machine at two Shanghai locations. By adding state-of-the-art technology to its appeal, McDonald's is hoping to lure in first-time customers who are eager to try something new. Related Link: Bitcoin Glitch Costs Miners Thousands Mobile Payments Take Off While mobile payments are nothing new, in China they are becoming increasingly popular. Online retailer Alibaba Group Holding Ltd (NYSE: BABA ) recently launched a mobile payment system which has been adopted by several big names including Wal-Mart Corp (NYSE: WMT ) and Yum Brands Inc. (NYSE: YUM )'s KFC food chain. Since Chinese customers have historically shied away from using credit cards, mobile payments has become a major draw. Customers have been looking for a fast, convenient way to pay and mobile options are providing that experience. See more from Benzinga FIFA Sponsors Weigh Up The Cost Of Scandal McDonald's Back In The Firing Line Over Happy Meal Ad © 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. || Banx Capital Joins the BitShares Exchange Network: LEICESTERSHIRE, UK / ACCESSWIRE / June 23, 2015 / Banx Capital announced today it is joining the BitShares Exchange Network when BitShares 2.0 is released this summer. "It just made too much business sense," said Banx CEO Mark Lyford, "What a way to cut costs, expand our available services and multiply our network effect!" About a year ago Banx began launching a whole portfolio of cryptocurrency businesses including a crypto currency exchange, a mining company, a trading company, a physical coin company and a half dozen other enterprises intended to span the industry. Banx put its own shares up for trading by qualified investors on what quickly became a top ten crypto-currency in its own right. You probably know it already as BanxShares on coinmarketcap.com. "I've been watching BitShares for over a year now," he confided. "But when I got a preview of what Cryptonomex.com had in store with BitShares 2.0 I knew I had to move fast. As a result of some pretty aggressive negotiations, both BanxShares and Banx.io will upgrade simultaneously when BitShares 2.0 launches this summer. I consider that a bit of a personal coup." What made him move so fast? "I can smell a revolution coming," said Lyford. "I want to be riding that wave when it hits the shore, not sitting on the beach." He went on to explain the nature of that revolution. "Everybody knows the limitations of current exchanges. Despite their best intentions, people aren't sure if exchanges can be trusted any more. Some of the biggest have been hacked and the rest are looking over their shoulders. We can hire the best cryptogeeks on the planet and they still can't promise we are safe. On top of that, users really have no way of knowing whether an exchange is solvent. Cypto currencies are supposed to be super-secure, but the exchanges are the weak link. This is going to kill the whole industry if we don't get it fixed quick." "BitShares has been claiming that they have solved these problems by offering a decentralized exchange on a blockchain since last summer. Incorruptible. Unhackable. Transparent. That's all quite impressive, but it just made them another one of my worries as a future competitor." Story continues Leaning forward as if to tell me a secret, Lyford went on, "But that wasn't their killer business model at all! Sure, they are a stand-alone decentralized exchange on a blockchain that you can interact with from your own wallet just like Bitcoin, but that was just their prototype demo. This year they are upgrading to an industrial strength platform that can handle every transaction in the whole crypto industry with enough bandwidth left over to host everything Visa is doing as well! And their transactions verify in 1 second not 1 hour." Why do they need that kind of bandwidth? "Because they are offering their 'Smartchain' as a safe, level playing field for use by the whole industry. It can serve as backbone network to all the exchanges as a way for them to trade with and against each other. Instead of keeping their order books in a dark, closed, isolated, hackable stovepipe, they can put them all out there in the transparent open where all their combined customers can trade against all their combined assets!" He sat back as if he had just explained The Universe and Everything. "Don't you see," he went on, "With shared order books we have deeper markets, tighter spreads, and greater liquidity. And since our customers keep their own keys while trading on this network we can't get hacked! Not only that, with BitShares easy to use hierarchical multi-sig capabilities, even our customers can't get hacked." But what exchange would want to give up its customers to some global pool? "That's the thing that clinched the deal," he smiled. "With the BitShares referral program we keep our customers and our share of their fees. So there was really nothing to lose and everything to gain. I get the benefits of selling other member's products and services to my customers while outsourcing most of the costs and risks of this business. That lets me concentrate on what I do best – developing new innovations, recruiting more customers and keeping them happy." Then he paused for a moment, as if to shift gears. "But that's just what's in it for Banx.io. The key is what all customers will be demanding a year from now once they get a taste of the new levels of transparency and safety and the quality and variety of services our networked exchanges can offer together. Banx.io along with CCEDK, Bit-X, Cryptonomex.com (and maybe a few more) are just the network's Founding Members. We expect a lot of smaller exchanges to use this as a way to become big exchanges in the coming year." Leaning back in his chair he grinned again, "Like I said, I'd rather be riding the tsunami than sitting on the beach." Contact Banx Capital Ltd: Zoe Hart (+44) 01530 215015 zoe@banxcapital.com Marketing Dept First Floor, 81 Market Street Ashby De La Zouch Leicestershire, LE65 1AH United Kingdom SOURCE: Banx Capital Ltd || Leading Global Bitcoin Adoption, HashingSpace Corporation Uplifts to the OTCQB: US Based Hashingspace Corporation Announced It Has Been Uplifted To A Higher Reporting Status On The OTC Market. Hashingspace Will Now Be Listed As OTCQB: HSHS. Hashingspace Provides Scalable Datacenter and Technology Infrastructure for the Global Adoption of Bitcoin Including Bitcoin Atms and Hosted ASIC Mining
WENATCHEE, WA / ACCESSWIRE / July 29, 2015 /HashingSpace Corporation (HSHS), a company focused on the global adoption of Bitcoin, announced today that it has officially been uplifted to a higher reporting status. HashingSpace will no longer be listed on the Pink Sheets and has been moved to OTCQB status.
HashingSpace Corporation submitted all the mandatory documents and has successfully met all of the initial requirements to receive this upgrade. The upgrade became official on July 23, 2015.
"We are pleased to learn that we have been upgraded to a higher status," stated Terry Taylor, Chief Financial Officer of HashingSpace. "This upgrade reflects on our plan to bring better value to our shareholders. This shows that we are current in our SEC compliance reporting and will undergo an annual verification and certification process. Providing accurate information to our investors is a top priority."
Included in our new OTCQB designation will be real-time level 2 quote display. Quotes can be found atwww.otcmarkets.com.
Weekly OTC Market Reports summarizing the activity in our security will be available.
All company information, including stock trading, filings, and market data related to the company, is reported under the new upgrade, OTCQB: HSHS.
HashingSpace Corporation's business will provide a wide range of services to include:
- HASHHOSTINGServers fully managed and specifically set-up for ASIC MINING- CLOUDHASHCloud mining servers that can be rented with full hashing power- HASHMININGOur own Mining Farm- HASHATMOwner and operator of Bitcoin ATM machines- HASHWALLETBitcoin consumer wallet for bitcoin banking and transactions- HASHPOOLPublic Stratum and P2Pool (Web/IOS/Droid)- HASHTICKERFree Ticker for tracking Bitcoin Value (Screen Saver/Web/IOS/Droid)- HASHVARA wholesaler of Bitcoin servers and Bitcoin ATM machines
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.
For more information please visit:http://www.hashingspace.com/
Company Contact:
HashingSpace Corporation5042 Wilshire Blvd. #26900Los Angeles, CA, 90036855 – HASHING (427-4464)
Investor Relations:
Email:ir@hashingspace.com
SOURCE:HashingSpace Corporation || European Markets Hope For Greece Deal By The End Of The Day: European markets will be holding their collective breath on Monday as Greece and its creditors attempt to make a last minute deal before the nation defaults on its International Monetary Fund loan on June 30.
Greek Prime Minister Alexis Tsipras hassubmitteda final reform proposal which he believes includes enough concessions to satisfy the nation's eurozone creditors but still preserves the Syriza party's anti-austerity ideals.
However, it remains to be seen whether or not EU officials will accept the proposal and unlock Greece's next installment of bailout money.
Time Pressure
With just over a week to go before Greece defaults on its IMF loan, the nation is running out of time to strike a deal with creditors.
Although Athens still has eight days to scrape together funding to repay its loan, it will be a complicated (and probably time consuming) process to make arrangements to send EU bailout money to Athens.
Related Link:Bookies See Greece In Eurozone
Banks Crumbling
The state of Greece's banks is also weighing on Tsipras as he tries to work out a deal with creditors. Nervous Greek residents have been rushing to withdraw their funds from the nation's banks, something that has made Greece's major banks nervous.
Last week, theNational Bank of Greece(NYSE:NBG) warned that failure to reach a deal on Monday could create a dire situation for the bank.
While the nation has not enacted any capital controls in order to minimize the banks' outflows, many worry that without an agreement on the table Greek banks will be forced to limit withdrawals in order to remain functional.
See more from Benzinga
• Greek Drama Gives Bitcoin A Boost
• Greek Banks Struggle To Handle Deposit Outflows With Default Fears Rising
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Your first trade for Friday, July 10: The " Fast Money " traders gave their final trades of the day. Jon Najarian was a buyer of KATE (NYSE: KATE) . Brian Kelly was a seller of IYT (NYSE Arca: IYT) . Karen Finerman was a buyer of JPM (NYSE: JPM) . Guy Adami was a buyer of Z (NASDAQ: Z) . Trader disclosure: On July 9, 2015, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Karen Finerman is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, KORS, M, URI, BABA puts, she is short SPY, Her firm is long ANTM, AAPL, BAC, C, DIS, FBT, FINL, FL, GILD, GOOG, GOOGL, GPS, IBB, JPM, KORS, M, SUNE, URI, XBI, KORS call spreads, URI calls, KORS puts, SPY put spreads, her firm is short IWM, SPY, MDY, Karen Finerman is on the board of GrafTech International. Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. Jon Najarian is long AEP, GE, HOG, PG, XLE he is long calls ARG, BAX, CAH, CMCSA, CTXS, CVC, DD, EXPR, GE, GLD, HZNP, JPM, KATE, NUAN, ORCL, PG, PRU, SO, T, TXT, WMT, he is long puts SODA, VALE. Today he bought JPM calls, KATE calls, PRU calls, T calls, and TXT calls. Brian Kelly is long BBRY, BTC=; TAN, TLT, TSL, Euro; Yuan, and Yen. Today he sold U.S. 30-year bonds. More From CNBC Top News and Analysis Latest News Video Personal Finance
[Random Sample of Social Media Buzz (last 60 days)]
Bitcoin traded at $259.08 USD on BTC-e at 01:00 PM Pacific Time || buysellbitco.in #bitcoin price in INR, Buy : 15775.00 INR Sell : 15281.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || In the last 10 mins, there were arb opps spanning 21 exchange pair(s), yielding profits ranging between $0.00 and $1,972.95 #bitcoin #btc || In the last 10 mins, there were arb opps spanning 22 exchange pair(s), yielding profits ranging between $0.00 and $2,839.20 #bitcoin #btc || One Bitcoin now worth $292.78@bitstamp. High $294.00. Low $286.50. Market Cap $ 4.167 Billion #bitcoin pic.twitter.com/pHtLRrmnSV || In the last 10 mins, there were arb opps spanning 20 exchange pair(s), yielding profits ranging between $0.00 and $485.29 #bitcoin #btc || LIVE: Profit = $1,971.92 (1.26 %). BUY B538.09 @ $290.00 (#BTCe). SELL @ $291.82 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org || In the last 10 mins, there were arb opps spanning 20 exchange pair(s), yielding profits ranging between $0.00 and $1,272.68 #bitcoin #btc || BTCTurk 650.77 TL BTCe 243.102 $ CampBx $ BitStamp 241.64 $ Cavirtex 298.14 $ CEXIO 242.00 $ Bitcoin.de 215.90 € #Bitcoin #btc || One Bitcoin now worth $284.98@bitstamp. High $289.00. Low $281.80. Market Cap $ 4.056 Billion #bitcoin pic.twitter.com/oiSGcreYgR
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Trend: down || Prices: 235.35, 232.57, 230.39, 228.17, 210.49, 221.61, 225.83, 224.77, 231.40, 229.78
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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)]
Bitcoin’s Computing Power Sets Record as Over 100K New Miners Go Online: The total computing power now dedicated to securing the bitcoin blockchain has set yet another record.
According to data from mining services operatorBTC.com, the average bitcoin mining hash rate over the last two weeks has reached71.43quintillion hashes per second (EH/s), up from 64.49EH/s on July 23. The threshold was breached as bitcoin adjusted its mining difficultyat block height 586,672 on Monday 2:52 UTC – that is a 6.94EH/s, or10.78percent jump since mid July.
Bitcoin mining difficulty is a measure of how hard it is to compete for mining rewards on bitcoin.Just how difficult the bitcoin software makes it to generate new blocks adjusts every 2,016 blocks – approximately every 14 days – to ensure the block production time remains about 10 minutes at the next cycle.
Assume this additional 6.9EH/s (or 6.9million tera hashes per second, TH/s) computing power has all come from powerful ASIC miners, such as Bitmain’s AntMiner S17 or MicroBT’s WhatsMiner M20S, both of which boast a mining rate of around 55TH/s and recently hit the market.
That means more than 100,000 top-of-line ASIC miners could have been switched on within the past two weeks.Further, given these products have been sold for at least $2,000 each, this equates to some $200 million in revenue pocketed for major miner makers.
The continued interest in bitcoin mining comes at a time when the cryptocurrency’s price appears to be en route to challenging all-time highs, however distantly, and amid the arrival of the rainy season in China, which leads to cheaper hydropower electricity costs in the country’s southwest provinces – a region that isreportedto account for 50 percent of the global mining activity,
Miners in Chinaestimatedearlier this year that bitcoin’s hash rate in the summer would break the level of 70EH/s. To be clear, at several single points of time, bitcoin’s hash rate had already crossed that level in June and even reached 80EH/s around Aug. 1.
However, today marks the first time that the two-week average computing power has been able to remain above the 70EH/s threshold. As such, bitcoin’s mining difficulty has also set a new record of nearly 10 trillion.
Amidst this uptick in mining interest, there have been notable changes in the mining market, where top manufacturers are racing to produce more powerful equipment.
For instance, in Bitmain’s 2018 initial public offering prospectus, the Beijing-based mining giant claimed it had a 70 percent market dominance. Now, it may be facing serious competition from rival players that some believe are capable of shipping more top-of-line products with better profitability.
Michael Zhong, a former mining analyst who now operates mining farms at a startup calledThe Force Mining, told CoinDesk that based on his experience, the production capacity ranking among major Chinese miner makers for their flagship products have changed over the years.
Zhong explained that from 2017 to 2018, Bitmain had topped the list with its AntMiner S9 series miners, followed by Canaan’s Avalon 8 series machines. InnoSilicon, Ebang and former Bitmain design director’s MicroBT were all in the third position at the time.
But from January to June this year, the delivery capacity ranking has reshuffled, with now MicroBT’s WhatsMiner M20 series at the top, followed by Bitmain’s S17 series miners and then InnoSilicon, Canaan, and Ebang, Zhong added.
According to F2pool’sminer profit tracker, Bitmain’s flagship AntMiner S17 Pro ranks third in terms of mining profitability, following BitFury’s Tardis and MicroBT’s WhatsMiner M20S. The cost forWhatsMiner M20Sis around $3,000, while that ofAntMiner S17 Prois around $4,000 each, based on the information advertised on the two firms’ websites.
Although orders for these flagship machines havequeued upuntil November and December this year, MicroBT’s founder Zuoxing Yang told CoinDesk previously that the bottleneck of production capacity is the availability of chips from suppliers.
For example, MicroBT uses 10-nm chips for its M20 series, which are relatively more affordable with a higher level of availability compared to more advanced 7-nm chips used by Bitmain for its AntMiner S17 series equipment.
While Bitmain has always been relying on chips supplied by Taiwan Semiconductor Manufacturing Company (TSMC), MicroBT has switched from TSMC to Samsung earlier this year for its flagship products.
BothTSMCandSamsunghave estimated in their most recent Q2 earnings calls that the demand for cryptocurrency mining chips will come back in the third and the fourth quarter this year.
Operating miners image courtesy to Hashage || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 19/08/19: Bitcoin Cash ABC gained 3.78% on Sunday. Reversing a 1.33% fall from Saturday, Bitcoin Cash ABC ended the day at $318.25.
A bearish start to the day saw Bitcoin Cash ABC fall to an early morning intraday low $303.36 before finding support.
Steering clear of the first major support level at $299.56, Bitcoin Cash ABC bounced back to a late afternoon intraday high $324.08.
Driven by a broad-based crypto rally, Bitcoin Cash ABC broke through the first major resistance level at $310.77 and second major resistance level at $316.64.
A bearish end to the day saw Bitcoin Cash ABC fall back to sub-$320 levels.
At the time of writing, Bitcoin Cash ABC was down by 0.69% to $316.05. A bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $318.25 to a low $312.82.
Bitcoin Cash ABC left the major support and resistance levels untested early on.
For the day ahead, steering clear of $315.20 levels would support a run at Sunday’s high $324.08.
Bitcoin Cash ABC would need the support of the broader market, however, to break through to $320 levels.
Barring a broad-based crypto rally, Bitcoin Cash ABC would likely come up short of the first major resistance level at $327.10.
Failure to hold above $315.20 could see Bitcoin Cash ABC slide back to sub-$310 levels before any recovery.
Barring a crypto meltdown, the first major support level at $306.38 should limit the downside on the day.
Litecoin rose by 4.99% on Sunday. Reversing a 2.74% slide from Saturday, Litecoin ended the day at $76.34.
A bearish start to the day saw Litecoin fall to an early morning intraday low $71.35 before making a move.
Holding above the first major support level at $71.08, Litecoin rallied to a late afternoon intraday high $78.18.
Finding the support of the broader market, Litecoin broke through the first major resistance level at $74.89 and second major resistance level at $77.07.
A broad-based crypto pullback late on left Litecoin back at $76 levels at the day end.
At the time of writing, Litecoin was up by 0.33% to $76.59. A bullish start to the day saw Litecoin rise from an early morning low $75.72 to a high $76.67 before easing back.
Litecoin left the major support and resistance levels untested early on.
For the day ahead, a move through Sunday’s high $78.18 would support a run at the first major resistance level at $79.23.
Litecoin would need the support of the broader market, however, to break through to $77 levels.
Barring a broad-based crypto rally, Litecoin would likely fall short of $80 levels for a 5thconsecutive day.
Failure to move through Sunday’s high $78.18 could see Litecoin hit reverse. A fall through the morning low $75.72 to $75.20 levels would bring the first major support level at $72.4 into play.
Barring a crypto meltdown, Litecoin should steer well clear of the 62% FIB of $70.
Ripple’s XRP rallied by 6.88% on Sunday. Following on from a trend-bucking 1.71% gain on Saturday, Ripple’s XRP ended the day at $0.28411.
A range-bound start to the day saw Ripple’s XRP ease to an early morning intraday low $0.26412.
Holding well above the first major support level at $0.2595, Ripple’s XRP rallied to a late afternoon intraday high $0.29345.
Ripple’s XRP broke through the major resistance levels to strike $0.29 levels for the first time since last Monday.
A broad-based reversal through the latter part of the day saw Ripple’s XRP fall back through the third major resistance level at $0.2883.
At the time of writing, Ripple’s XRP was down by 0.36% to $0.28310. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.28429 to a low $0.27933.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead, holding onto $0.28 levels through the morning would support a run at the first major resistance level at $0.2971.
Ripple’s XRP would need the support of the broader market, however, to break out from Sunday’s high $0.29354.
Barring a broad-based crypto rally, Ripple’s XRP would likely fall short of $0.30 levels for a 6thconsecutive day.
Failure to hold onto $0.28 levels could see Ripple’s XRP test the first major support level at $0.2676 before any recovery.
Barring a crypto meltdown, Ripple’s XRP should steer clear of sub-$0.26 levels for a 2ndconsecutive day.
Please let us know what you think in the comments below
Thanks, Bob
Thisarticlewas originally posted on FX Empire
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• E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – August 19, 2019 Forecast || Crypto exchange OKCoin pledges to donate up to 1,000 bitcoins to developer community: Cryptocurrency exchange OKCoin has pledged to donate up to 1,000 bitcoins (currently worth ~$10.6 million) to developers of bitcoin (BTC), bitcoin cash (BCH) and bitcoin Satoshi vision (BSV).
OKCoin hasselected11 developers and projects for the donation, including Jimmy Song, Luke Dashjr, Ben Woosley, Bitcoin Association and Bitcoin Unlimited, among others. Crypto “enthusiasts” can vote for which developer and project they would like to receive a donation.
For every vote received, OKCoin said it will send 0.02 BTC (or the BCH or BSV equivalent) on the voter’s behalf to the selected project. Once the campaign ends on Sept. 27, the amount raised per project will be divided and evenly distributed among the developers and projects.
The exchange said those selected are “verified” and have fulfilled the “specifications” of the initiative, without giving specific details. “The intention is not to put one project against the other. Instead, the initiative aims to highlight the shared history, the different approaches and positions taken, and to garner community support towards those focused on building and moving the projects forward,” said OKCoin. || Erik Finman, teen Bitcoin millionaire, plans to launch “Libra competitor”: Erik Finman, the teen whomade his millionsbetting on bitcoin as a 12-year-old, appears to be launching a “competitor” to Facebook’s Libra project.
Finman, whobills himselfas “TIME’s most influential teen,” has been reaching out to high-profile Crypto Twitter pundits to elicit signups for a “huge referral program,” and claims that the Wall Street Journal and Forbes are covering the blessed event, according to a screenshot of Finman’s (presumably boilerplate) message shared with Decrypt.
Yesterday, Finmanreportedlyinvested in MetalPay, a peer-to-peer payments startup that he believes will “beat bitcoin.”
Finman’s (brief) career began in 2011, when the then-12-year-old convinced his parents to let him skip college if he could transform $1,000 in cash into a cool $1 million,according toInvestopedia. He ended up investing in Bitcoin when it was $12 per coin; later he also made investments in Ether.
But even for TIME’s most influential teen, competing with Libra might be a longshot. Facebook has corralled a vast supporting cast of tech and finance giants to support its project, whichinvolvesissuing a digital currency from a Swiss bank account, to the chagrin of regulators.
We look forward to Finman’s inevitable appearance beforeCongress. || Pummeled Argentina ETFs Ma Bargain Hunters: This article was originally published onETFTrends.com.
After experiencing a steep plunge, Argentina country-specific exchange traded funds could warrant another look, especially with Buenos Aires and the International Monetary Fund taking steps to stabilize the economy.
TheGlobal X MSCI Argentina ETF (ARGT) andiShares MSCI Argentina and Global Exposure ETF (AGT)have plunged over 30% from their July highs to multi-year lows, and bargain hunters may be stepping back into this beleaguered market.
Argentina's main stock index lost almost half its value in the weeks following a shock August 11 primary election that dealt a blow to market-friendly conservative President Mauricio Macri and sent the country’s debt market and peso currency reeling,Reutersreports.
Bankers and brokers, though, now see some more optimistic investors looking into the market on hopes that environment would improve and valuations recover.
“We’re gradually starting to see more inquiries from foreign investors,” Christian Reos, research manager at brokerage Allaria, told Reuters. “The valuations of companies don’t reflect their reality right now. Today they are at high risk because Argentine assets are very volatile, but looking at things in the medium term it’s an opportunity to buy.”
Luiz Ribeiro, head of Latin American operations at asset manager DWS, believed that moderate, left-leaning Peronist Alberto Fernandez, whom beat out Macri in the primaries by a landslide, could take a more pragmatic approach to stabilizing the economy.
“We see markets pricing in the worst case scenario, which we do not see as the most likely,” Ribeiro told Reuters, referring to the likelihood a Fernández government would be more moderate than expected. “At the current prices we are not going to sell. We just need more signals from Alberto (Fernández) that he is really going in that direction and how he is going to get there, so that we can actually buy.”
Argentina may also find a helping hand from the IMF as the institution continues talks with Argentinian authorities to try and support the economic conditions,Reutersreported. Fernandez has pledged, if elected, to rework a $57 billion credit line with the IMF to avoid defaults on foreign debt.
“Our engagement remains strong with Argentina,” IMF spokesman Gerry Rice told reporters. “The IMF’s objective has been to try and help the authorities stabilize the challenging situation and allow for a return of confidence that would pave the way for growth.”
For more information on the developing economies, visit ouremerging markets category.
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READ MORE AT ETFTRENDS.COM > || Crypto Mixed; Security Issues Found on Lightning Network: Investing.com – Prices of major cryptocurrencies were mixed on Monday without wild price movements. On a quiet trading day, Bitcoin rose 1.49% to $9,758.6 by 11:34 AM ET (03:34 GMT). The digital coin had an uptick on Monday morning after hovering at the $9,500 range over the weekend. Rising with Bitcoin was Litecoin, which gained 2.06%. However, Ethereum fell 1.17% and XRP dropped 0.92%. Reports over the weekend about security vulnerabilities found from Bitcoin’s Lightning Network have raised concerns among the traders. Founded by Twitter CEO Jack Dorsey, the Lightning Network is an experimental scaling solution built on top of the Bitcoin Network for quicker fund transfers. But experts revealed security issues and warned of loss of funds. "Security issues have been found in various lightning projects which could cause loss of funds," said software developer, Rusty Russell. "Full details will be released in 4 weeks, please upgrade well before then." Despite security concerns that could hamper the popularity of cryptocurrency, digital coins are set to go mainstream in Brazil, with 1.4 million point-of-sale devices to be supporting crypto payment. Brazil’s largest payment processing provider Cielo said users of its Cielo PoS devices will be able to make crypto payments via QR codes. Cielo president Paulo Caffarelli also revealed that its partner banks such as Bradesco are supporting the move. Related Articles First Blockchain-Exclusive Birth Certificates Recorded in Brazil City of São Paulo to Use Blockchain Registry for Public Works Philippine Boxing Champion Manny Pacquiao Releases Own Cryptocurrency || Bitcoin Tests $12,000 as Analysts Say Crypto Now Becomes Hedge Against Trade War: Investing.com - Bitcoin continued to gain and is now near the $12,000 mark as some analysts now believe the cryptocurrency could be used as a hedge against the ongoing Sino-U.S. trade war that has sent most risky assets down this week. Bitcoin traded 1.6% higher to $11,751.8 by 1:35 AM ET (05:35 GMT). It has now jumped 23.5% in the past seven days. The move upwards pushed Bitcoin's market cap up to $210.0B, or 67.43% of the total cryptocurrency market cap. It definitely appears to be acting somewhat like a safe haven, Brad Bechtel, head of foreign exchange at Jefferies, told Bloomberg in an email. When markets are calm and rallying, then Bitcoin sort of falls by the wayside," he said. "But every time we see turbulence in the market and it starts to sell off, you see Bitcoin and other safe-haven assets rally. The gains came as global stock markets and prices of other risky assets plunged this week following an escalation of Sino-U.S. trade tensions. On Monday Beijing allowed the Chinese yuan to fall to its weakest level in a decade against the dollar while also requested state-owned companies to halt buying of U.S. agricultural products. China dropped the price of their currency to an almost a historic low. Its called currency manipulation. Are you listening Federal Reserve? This is a major violation which will greatly weaken China over time! said U.S. President Donald in a tweet overnight. Last week, Trump said he would place further tariffs on Chinese goods starting on Sept. 1 if trade negotiations did not show marked progress. A Treasury statement by the U.S. declared China a currency manipulator and said Chinas central bank has extensive experience manipulating its currency and remains prepared to do so on an ongoing basis. Related Articles Trading Platform EToro Adds Support for Tezos Amid Price Surge Web3 Foundation Director Resigns to Pursue DAO Projects Bitcoin Climbs Above 11,792.0 Level, Up 7% || Bitwise Bitcoin ETF Trust hires service providers, including BNY Mellon: Bitwise Bitcoin ETF Trust has appointed several service providers for its proposed bitcoin exchange-traded fund (ETF) offering, including Bank of New York (BNY) Mellon.BNY Mellon will serve as the Trust’s administrator, transfer agent as well as the proposed ETF’s custodian, according to an amended S-1 formfiledby Bitwise with the U.S. Securities and Exchange Commission (SEC) on Wednesday.
Foreside Fund Services has been appointed as the marketing agent, while Cohen & Co. as an auditor. The Trust is yet to hire a bitcoin custodian, who is going to be responsible for safekeeping the bitcoins owned by the Trust.
Bitwise initially filed an application for bitcoin ETF with NYSE Arca in January 2019. The product is yet to be approved by the SEC; a finaldecisionis now scheduled for Oct. 13. SEC chairman Jay Clayton recentlysaidthat "progress is being made" on the bitcoin ETFs front.
Last week, VanEck Securities and SolidX Management also hired BNY Mellon as the daily fund accountant, administrator and transfer agent for its recentlylaunchedVanEck SolidX Bitcoin Trust 144A Shares, a bitcoinETF-like product, which is currently only available to “qualified institutional buyers.” || As Argentina’s markets continue to panic, Bitcoin trades at a premium: Argentina’s economy continued its descent on Wednesday following ashocking lossat the polls for President Mauricio Macri, which triggered theworst financial panicin the country since 1950—and themost significant increase in the priceofBitcoinin Argentina's history.
As of midweek, Bitcoin continues to be traded a premium on local exchanges against the Argentine peso (ARS), with prices remaining close to 600,000 pesos per 1 BTC, following a massive devaluation of Argentina’s currency. That price is still 100,000 pesos more per bitcoin than at any time before Sunday’s election.
While Argentina’sstock market has ceasedits free fall, it remains at yearly lows, and traders on local Bitcoin exchanges continue to pay upwards of a $1,000 premium for BTC on LocalBitcoins and other informal peer-to-peer trading groups.
But as strongly as the local financial markets have reacted, Argentina’s politicians have perhaps topped it: After essentially blaming the Argentine people for driving the panic, President Macriapologized and announceda “package” of economic measures to shore up public support. Macri froze prices, increased wages, lowered taxes and asked for a meeting with the opposition party.
The move appears to have backfired, however, aspublic criticismcontinues to mount—while also seemingly galvanizing local crypto traders and hodlers. Even though the crypto market in Argentina does not have strong liquidity, citizens appear to be searching for ways to preserve their wealth. And Bitcoin continues to flourish as one of the more practical alternatives.
Although BTC remains bearish across global markets, hovering around $10,200 at today’s prices, Argentines are trading Bitcoin at between $11,500 and $11,700 on LocalBitcoins. It’s Argentina’s version of the “kimchi premium”— though caused by entirely different reasons.
Argentina’s economy currently shows no signs of rapid improvement, but as the stock market begins to stablize, it appears that Argentines are adapting to this new normal. || A Dangerous Bug in Bitcoin’s Lightning Network Has Been Fixed: A popular payments network running atop the bitcoin blockchain suffered from a long-standing code vulnerability – one where attackers could drain users’ of their money. While initially flagged to the public on Aug. 30 by bitcoin developer Rusty Russell, the full disclosure detailing how this vulnerability could be exploited by an attacker was released Friday. “An attacker can claim to open a [lighting payments] channel but either not pay to the peer, or not pay the full amount,” Russell wrote in the full disclosure . Related: Lightning Sucks, But It Could Help Build a Bitcoin Economy The lightning network is a Layer 2 payments protocol enabling ultra-fast and nearly costless transactions atop the bitcoin blockchain. In order for users to send transactions across the lightning network, they must open what are called “payments channels” to send and receive funds from other lightning users. Without the proper checks, an attacker could pretend to open a new payments channel and send fake transactions. Being duped, an honest user could then send back real money to the attacker not knowing the previous transactions had been completely artificial. It’s unclear how many users fell victim to such attacks. Already, all major lightning software clients have been upgraded to fix this vulnerability, according to Russell. When asked why it took three months for the vulnerability to be disclosed to users, Pierre-Marie Padiou – the CEO of a company maintaining one of the three most popular lightning implementations – said developers had to err on the side of caution. Related: Bitcoin Shopping App Fold Raises $2.5 Million to Bring Lightning to Retailers “The problem with this vulnerability is that once you know about it, it seems so obvious,” said Padiou. “Three months is not a long time. It’s a pretty short time because you have to give users the amount of time needed to update. … A lot of users don’t do it.” Lightning developers, he added, did not want to risk revealing the vulnerability until absolutely sure no users were at risk. Story continues “There are always problems. Even on the bitcoin protocol, there have been bugs,” Padiou said, adding: “There will always be bugs. What matters the most is how to handle this in the best way to protect users.” Acinq software developer Bastien Teinturier image via Twitter Related Stories Bitcoin Lightning Network Specs Pass First ‘Formal’ Security Test Lightning Wallet Zap Launches in-App OTC Desk for Bitcoin Buyers
[Random Sample of Social Media Buzz (last 60 days)]
為替(19/09/06 07:10㈮現在)
米ドル → 106.94円
香港ドル → 13.64円
台湾ドル → 3.43円
中国元 → 14.96円
ユーロ → 118.04円
英ポンド → 131.91円
BTC → 1125684.21円
AUD → 72.88円 || The Humans of Bitcoin on Blockchain Radio - Digital and Natural Freedom - Chris Troutner (4) || Upptrappning av våldet i Hongkong-protester
@Bitcoinincoins - @InvestCrypForex - dagensnyheter - Twitter - News - Noticias - Bitcoin - CryptoCurrency - Forex https://t.co/6pPuAizQdz || Bitcoin&NEM相場情報(Zaif)
btc/jpy ( https://t.co/oXoJdJE9tY )
時間 09:50 午前
価格 1096145
xem/btc ( https://t.co/npFHqkW64n )
時間 08:40 午前
価格 0.0000053
xem/jpy ( https://t.co/rUyInpF8XE )
時間 09:49 午前
価格 5.9809 || 08/20 01:50 現在のビットコインの価格
BTC/JPY ask: 1,137,740 / bid: 1,136,993
・sp: 747 ・ps: +0.127% || St. George Illawarra Dragons vs Sydney Roosters. #bitcoin #betting - https://t.co/bzuVJ0DbNE || BTC Supporter Group Member Power up! https://t.co/3FQ8ib2KMs 2019-08-04T04:48:19Z https://t.co/Z5jItpZGbW https://t.co/AZSXJH2z2U https://t.co/mNQDBlf5AS https://t.co/gKAGjmN0Od https://t.co/420sOPXQVJ... https://t.co/tGKrRXruJx..................... https://t.co/taCiBGN3l0 || Easy affiliate, infinity rewards. Register Binance and start affiliate now.
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#binance #bitcoin #btc || great || Bittrex - Volume changed on Prometeus (BTC/PROM)! Price: $0.00002440 (+1.67%), Volume: +118.43%, Mentions Daily Change: 0.00% https://t.co/xg09DOGLhb
|
Trend: up || Prices: 8293.87, 8343.28, 8393.04, 8259.99, 8205.94, 8151.50, 7988.16, 8245.62, 8228.78, 8595.74
|
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 2020-06-24]
BTC Price: 9313.61, BTC RSI: 46.86
Gold Price: 1765.80, Gold RSI: 60.76
Oil Price: 38.01, Oil RSI: 56.73
[Random Sample of News (last 60 days)]
The Crypto Daily – Movers and Shakers -13/05/20: Bitcoin rallied by 3.00% on Tuesday. Reversing a 1.90% loss from Monday, Bitcoin ended the day at $8,811.4.
A bullish morning saw Bitcoin rally from an early intraday low $8,526.4 to a late afternoon intraday high $8,968.0.
Falling short of the first major resistance level at $9,064.73, Bitcoin fell back to sub-$8,800 levels before finding late support.
Steering well clear of the first major support level at $8,122.73, Bitcoin wrapped up the day at $8,800 levels.
The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.
For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.
Across the rest of the majors, it was a mixed day on Tuesday.
Bitcoin Cash ABC and Bitcoin Cash SV slid by 1.40% and by 1.17% respectively to buck the trend.
It was a bullish day for the rest of the majors, however.
Stellar’s Lumen surged by 12.16% to lead the way, with Cardano’s ADA (+5.52%) a distant 2nd.
Binance Coin (+4.77%), Monero’s XMR (+3.42%), Tezos (+3.47%), and Tron’s TRX (+3.23%) also found strong support.
EOS (+1.60%), Ethereum (+2.24%), Litecoin (+1.83%), and Ripple’s XRP (+2.47%) trailed the front runners.
Through the start of the week, the crypto total market cap rose to a Monday high $245.2bn before sliding to a low $229.41bn. The market recovery on Tuesday led to a move back through to $244bn levels before easing back. At the time of writing, the total market cap stood at $242.50bn.
Bitcoin’s dominance visited sub-67% levels before rising to a Monday high 67.78%. At the time of writing, Bitcoin’s dominance stood at 67.2%.
24-hour trading volumes rose to an early Monday high $206.86bn before easing back to sub-$140bn levels. At the time of writing, 24-hr volumes stood at $136.45bn.
At the time of writing, Bitcoin was up by 0.71% to $8,874.4. A bullish start to the day saw Bitcoin rise from an early morning low $8,799.5 to a high $8,898.6.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed bag for the majors.
Monero’s XMR and Bitcoin Cash SV led the way early on, with gains of 0.55% and 0.52% respectively. EOS also found early support (+0.26%).
It was a bearish start for the rest, however, with Bitcoin Cash ABC down by 0.80% to lead the way down.
Bitcoin would need to break back through to $8,900 levels to bring the first major resistance level at $9,010.80 into play.
Support from the broader market would be needed, however, for Bitcoin to break out from Tuesday’s high $8,968.0.
Barring a broad-based crypto rally, the first major resistance level would likely pin Bitcoin back on the day.
In the event of rebound, the second major resistance level at $9,210.20 would likely limit any upside on the day.
Failure to break back through to $8,900 levels would likely see Bitcoin fall back into the red.
A fall through to sub-$8,770 levels would bring the first major support level at $8,569.20 into play.
In the event of another extended sell-off, Bitcoin should steer clear of sub-$8,000 levels. The second major support level at $8,327.0 should limit any downside.
Thisarticlewas originally posted on FX Empire
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• S&P 500 Price Forecast – Stock Markets Show Indecision Yet Again at 200 Day EMA || Coca-Cola vending machines in Australia and New Zealand now accept bitcoin: More than 2,000 Coca-Cola vending machines across Australia and New Zealand now accept bitcoin (BTC) as a payment option. Coca-Cola Amatil, the largest bottler and distributor of the brand in Asia-Pacific, has partnered with crypto payments startup Centrapay, for the initiative. To get started with BTC payments, users would need to install Sylo Smart Wallet on their phones. Once the wallet is installed, Centrapay allows users to scan a QR code to pay for Amatil’s items in bitcoin and other digital currencies. Centrapay said it helps brands to connect directly with users and help increase their revenue potential. Adidas, KFC, and Jack Daniel's are some of the brands listed on its website as customers. Centrapay CEO Jerome Faury said the firm had solved two barriers to the adoption of digital assets - "integration complexity and poor user experiences." Looking ahead, Centrapay plans to grow its business globally. “We’ve established a presence in North America and will be targeting the US market next with some world-first innovations,” said Faury. © 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. || Services Sector PMIs and the Bank of Canada in Focus as Optimism Reigns Supreme: Earlier in the Day: It was a relatively busy day on the economic calendar this morning. The Aussie Dollar and Japanese Yen were in focus early in the day, as was economic data out of China. Away from the economic calendar, key risks remained in focus, while the Asian markets responded to news from the U.S. The good news continued to be the COVID-19 numbers that remained on the lower side in spite of the easing in lockdown measures. While plenty of downside risks remain, including consumer sentiment, it’s certainly good news for the markets. A COVID-19 vaccine would address the uncertainty over consumer sentiment globally… Looking at the latest coronavirus numbers, On Tuesday, the number of new coronavirus cases rose by 112,694 to 6,470,911. On Monday, the number of new cases had risen by 95,146. While the daily increase was higher than Monday’s rise and 95,878 new cases from the previous Tuesday. France, Germany, Italy, and Spain reported 938 new cases on Tuesday, which was down from 1,018 new cases on Monday. On the previous Tuesday, 1,535 new cases had been reported. Significantly, all 4 member states reported less than 300 cases each for a 2 nd consecutive day. From the U.S, the total number of cases rose by 21,208 to 1,879,665 on Tuesday. On Monday, the total number of cases had risen by 21,287. On Tuesday 26 th May, a total of 19,185 new cases had been reported. For the Japanese Yen May’s finalized service sector PMI came in at 26.5, which was up from an April 21.5 and a prelim 25.3. The Japanese Yen moved from ¥108.719 to ¥108.742 upon release of the figures. At the time of writing, the Japanese Yen was up by 0.10% to ¥108.57 against the U.S Dollar. For the Aussie Dollar It was a busy morning for the Aussie Dollar, with housing sector data for April in focus along with May’s service sector PMI. The headline, however, was 1 st quarter GDP numbers, which were expected to be quite dire… Story continues Looking at the stats: Building approvals fell by 1.8%, following a 2.6% fall in March, which was far better than a forecasted fall of 15.0%. The services PMI continued to struggle in May. The PMI came in at 26.9, which was up from an April 19.5 and prelim 25.5. In the 1 st quarter, the economy contracted by 0.3%, quarter-on-quarter, following a 0.5% expansion in the 4 th quarter. Economists had forecast a contraction of 0.3%. Year-on-year, the economy grew by 1.4% that was softer than 2.2% in the 4 th quarter. This was also in line with forecasts. This was the slowest through the year growth since Q3 2009. According to the ABS , A number of factors hit the Australian economy, including the bushfires and the effects of the COVID-19 pandemic. Government spending limited the impact, with public demand contributing 0.3 percentage points to GDP. This came from a 1.8% rise in government final consumption expenditure. By contrast, public demand detracted 0.8 percentage points from GDP. This came from a 1.1% slide in household final consumption expenditure. Net trade contributed 0.5 percentage points to GDP. Imports of goods fell 3.9%, with imports of services sliding by 13.6%. Exports of services fell by 12.8%. The Aussie Dollar moved from $0.69680 to $0.69506 upon release of the statement. At the time of writing, the Aussie Dollar up by 0.54% at $0.6934. From China The Caixin Services PMI rose from 44.4 to 55.0 in May. According to the May Caixin Services PMI survey , Business activity and new work rose at the quickest rate since late 2010. It marked the first increase in activity for 4-months. A resumption in business operations and improved client demand led to a first uptick in total new orders since January. The rate of expansion was the sharpest since September 2010 and the historical average. Domestic demand delivered as new export business continued to tumble in May. This weak overseas demand was attributed to the continued lockdown measures in place through much of May. The Aussie Dollar moved from $0.69506 to $0.69449 upon release of the figures. Elsewhere At the time of writing, the Kiwi Dollar was up by 0.63% to $0.6411. The Day Ahead: For the EUR It’s a busy day ahead on the economic calendar . May’s service sector PMIs for Italy and Spain are due out in the early part of the European session. Finalized PMIs from France, Germany, and the Eurozone will also draw attention. We are looking for a services sector rebound to drive hiring and economic recovery. Prior to the coronavirus pandemic, even the ECB had been looking towards services for support. That then brings Germany’s unemployment figures for May into focus. The good news, however, is that the EU has agreed on a bazooka of a recovery plan that could see the markets brush aside the numbers. Dire numbers, however, could test the theory that the recovery will be a swift one to pre-pandemic levels. At the time of writing, the EUR was up by 0.30% to $1.1203. For the Pound It’s a relatively busy day ahead on the economic calendar . May’s finalized services and composite PMIs are due out later this morning. While downward revisions will test the Pound, updates from EU – UK Brexit talks will likely be the key drivers on the day. There was a hint of compromise from the UK government in the earlier part of the week. If that translates into a compromise with the EU on fishing rights then there may be the hope of some kind of blueprint… We have also heard the chatter of a transition period extension that would also be a boost… At the time of writing, the Pound was up by 0.25% to $1.2583. Across the Pond It’s a busy day ahead on the U.S economic calendar. The markets preferred ISM Non-Manufacturing PMI for May and ADP nonfarm employment change figures are due out. We are expecting another slump in nonfarm. We are not expecting weaker ISM PMI numbers, however. A fall in the ISM non-manufacturing PMI from April levels would check the market’s buoyant mood. On the geopolitical front, the markets can’t ignore events in the U.S forever… Trump is heading for the Oval Office exit door at a rapid pace if things don’t change. Or is he? The Dollar Spot Index was down by 0.24% to 97.438 at the time of writing. For the Loonie It’s a busy day ahead on the economic calendar . While economic data is limited to 1 st quarter productivity, the Bank of Canada is delivering its June monetary policy decision. Risk sentiment has picked up and hopes are of an economic rebound that has fueled a rally in oil prices. Will the BoC see it the same way? Expect a more conservative view, though we’re not expecting the Loonie to sink. OPEC Plus chatter and U.S EIA inventory numbers will influence, however. The BoC is fully aware of the risks to crude oil price stability and the impact on the Canadian economy. Some Loonie weakness wouldn’t be a bad thing… At the time of writing, the Loonie was up by 0.11% to C$1.3504 against the U.S Dollar. 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 – Resistance At 1.2650 In Sight BTC/USD – Potential Bearish Momentum Ahead EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 03/06/20 AUD/USD and NZD/USD Fundamental Daily Forecast – Bullish Investors Reacting to Forward-Looking RBA Statement E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – May Be Grinding Toward 26962 Three Great Bullish Occasions With the Euro! || Morning Market Stats in 5 Minutes: Movers Indices • S&P 500 ETF (NYSE: SPY ) rose 0.78% to $285.09. • Nasdaq ETF (NASDAQ: QQQ ) increased 1.06% to $216.10. • Dow Jones Industrial Average ETF (NYSE: DIA ) increased 0.49% to $238.96. • FTSE/Xinhua China 25 ETF (NYSE: FXI ) increased 1.28% to $38.65. • FTSE Europe ETF (NYSE: VGK ) rose 0.60% to $44.95. Commodities • United States Oil ETF (NYSE: USO ) decreased 12.23% to $2.26. • Gold ETF (NYSE: GLD ) fell 0.50% to $161.88. Bonds • 20+ Yr Treasury Bond ETF (NASDAQ: TLT ) fell 0.68% to $169.69. Industries • Retail ETF (NYSE: XRT ) increased 1.10% to $34.91. • Energy (NYSE: XLE ) decreased 0.98% to $34.24. • Technology (NYSE: XLK ) increased 0.76% to $89.27. • Financial (NYSE: XLF ) increased 0.94% to $21.94. Stocks Higher • Home Depot (NYSE: HD ) rose 1.93% to $216.35. • Shinhan Financial Group (NYSE: SHG ) rose 9.82% to $24.32. • Avadel Pharmaceuticals (NASDAQ: AVDL ) rose 28.81% to $12.66. Stocks Lower • Apple (NASDAQ: AAPL ) decreased 0.85% to $280.56. • Occidental Petroleum (NYSE: OXY ) fell 7.64% to $12.76. • Verastem (NASDAQ: VSTM ) fell 38.93% to $2.52. Top News • Benzinga Pro's Top 5 Stocks To Watch For Mon., Apr. 27, 2020: MMM, SSYS, SBUX, BOX, PLUG https://www.benzinga.com/pre-market-outlook/20/04/15883510/benzinga-pros-top-5-stocks-to-watch-for-mon-apr-27-2020-mmm-ssys-sbux-box-plug • 81 Biggest Movers From Friday https://www.benzinga.com/news/20/04/15881943/81-biggest-movers-from-friday • Another Chinese Bitcoin Mining Device Maker Files To Go Public In US https://www.benzinga.com/markets/cryptocurrency/20/04/15881370/another-chinese-bitcoin-mining-device-maker-files-to-go-public-in-us • Earnings Scheduled For April 27, 2020 https://www.benzinga.com/news/earnings/20/04/15881781/earnings-scheduled-for-april-27-2020 • 33 Stocks Moving in Monday's Pre-Market Session https://www.benzinga.com/news/20/04/15882925/33-stocks-moving-in-mondays-pre-market-session Story continues Upcoming Earnings • Cathay General (NASDAQ: CATY ) is expected to release earnings for Q1. In the same quarter last year, they reported an earnings per share of $0.83 and revenue of $156,237,000. Analysts expect the revenue to be around $146,240,000 and the earnings per share at $0.67. • Cognex (NASDAQ: CGNX ) will release earnings today for Q1. Last year, for the same quarter, they reported an EPS of $0.17 and revenue of $173,484,000. Analysts predict the revenue to be around $157,370,000 and the EPS to be at $0.08. • Crane (NYSE: CR ) is expected to release earnings for Q1. In the same quarter last year, they reported an earnings per share of $1.45 and revenue of $831,700,000. Analysts expect the revenue to be around $820,760,000 and the earnings per share at $1.25. Earnings Recap • Armstrong World Indus (NYSE: AWI ) released earnings for Q1, lower than analyst estimates. They reported an EPS of $1.1, and revenue of 248,700,000. In the same quarter last year, they reported an earnings per share of $1.1 and revenue of $242,100,000. See more from Benzinga Stocks That Hit 52-Week Highs On Monday Recap: Armstrong World Industries Q1 Earnings Afternoon Market Stats in 5 Minutes © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || FTX is planning to launch a U.S.-based spot crypto exchange in May: FTX, a cryptocurrency derivatives exchange that has mainly served the Asia market, is planning to launch a spot exchange in the U.S. FTX CEO Sam Bankman-Fried confirmed to The Block on Monday that the U.S. exchange is currently in beta testing and is aiming for an official launch in early May. According to the FTX.US website , the new exchange has already registered as a money services business (MSB) with the Financial Crimes Enforcement Network (FinCEN) and it is working to acquire state-level money transmitter licenses (MTL) from several states. Both MSB and MTLs are required for financial services firms to legally operate in the U.S. To serve users in New York, FTX needs to apply for a BitLicense as well. The new exchange will maintain a separate order book from the main FTX derivatives exchange. Currently, the platform offers USD trading pairs for six assets listed, including BTC, BCH, ETH, LTC, PAXG, and USDT. Bankman-Fried said it is looking to add more assets and fiat onramp options before the official launch, as well as the margin trading feature for qualified users. Launched in May 2019, FTX quickly picked up traction and now sits at around $728 million total in 24-hour trading volume, per its website . Since launch, the exchange has primarily served the Asia market and most of its team is based in Hong Kong. In February, The Block reported that FTX was looking to raise $15 million at a $1 billion valuation, and FTX then launched an equity token that same month. Crypto exchange Binance has invested in FTX, although the exact amount of the investment was not disclosed. [caption id="attachment_63159" align="aligncenter" width="1200"] Source: Skew[/caption] Correction: An earlier version of this report erroneously said that FTX was looking to to raise at a $100 billion valuation. FTX was previously reported by The Block to be raising a $1 billion valuation. © 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. || Bitcoin sell-off looms ahead of block reward halving: The highly-anticipated Bitcoin halving is just one week away leaving traders and investors undecided on whether it will break out above $10,000 or suffer a correction back down to around $5,900. The indecision has been reflected in the past week of price action with Bitcoin struggling to close daily candles above $9,000 while remaining firm consistently closing above $8,600. The Bitcoin halving is undeniably a bullish event. However, if you look at previous block reward halving events price always seems to correct in the months following the halving before picking itself back up later on in the year. In 2016 Bitcoin suffered a 30% sell-off after the halving before taking a year to begin its rally to a new all-time high. During an event like this it is important to factor in three variables; the fundamental impact of the halving on Bitcoins supply, the worryingly bullish sentiment and the technical aspect of Bitcoins chart. The former is common knowledge, if you cut the supply of any asset in half price will eventually rise if demand remains the same. The second point can be perceived in a few different ways, when investors are overly bullish and optimistic about an asset price action often goes the other way in order to cause the maximum amount of pain. But it can also have a positive impact on price action if the positive sentiment brings in more investors to a point where there are far more buyers than sellers, which would cause the price to rise. From a technical standpoint Bitcoin needs to break above $9,600 to confirm a bullish breakout, this would bring around initial targets of $10,300 and $10,550, although it could go far higher as the diagonal trendline would be broken for the first time since it began in 2017. However, if Bitcoin begins to sell off as it has done on each touch of $9,200 it could cause a cascade of sells and liquidations of long positions, which brings price targets of $7,800 and $5,900 into the frame. For more news, guides and cryptocurrency analysis, click here . || CLASS ACTION UPDATE for CAN, TLRY and ZM: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders: NEW YORK, NY / ACCESSWIRE / May 3, 2020 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you. CAN Shareholders Click Here: https://www.zlk.com/pslra-1/canaan-inc-loss-form?prid=6323&wire=1 TLRY Shareholders Click Here: https://www.zlk.com/pslra-1/tilray-inc-loss-form?prid=6323&wire=1 ZM Shareholders Click Here: https://www.zlk.com/pslra-1/zoom-video-communications-inc-loss-form?prid=6323&wire=1 * ADDITIONAL INFORMATION BELOW * Canaan Inc. ( CAN ) CAN Lawsuit on behalf of: investors who purchased publicly traded securities of Canaan, including its American Depository Shares pursuant and/or traceable to the Company's registration statement and related prospectus issued in connection with the Company's November 20, 2019 initial public offering. Lead Plaintiff Deadline : May 4, 2020 TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/canaan-inc-loss-form?prid=6323&wire=1 According to the filed complaint, (1) the purported "strategic cooperation" was actually a transaction with a related party; (2) the company's financial health was worse than what was actually reported; (3) the company had recently removed numerous distributors from its website just prior to the initial public offering, many of which were small or suspicious businesses; and (4) several of the Company's largest Chinese clients in prior years were clients who were not in the Bitcoin mining industry and, thus, would likely not be repeat customers. Tilray, Inc. ( TLRY ) TLRY Lawsuit on behalf of: investors who purchased January 15, 2019 - March 2, 2020 Lead Plaintiff Deadline : May 5, 2020 TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/tilray-inc-loss-form?prid=6323&wire=1 Story continues According to the filed complaint, during the class period, Tilray, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) the purported advantages of the marketing and revenue sharing agreement with Authentic Brands Group (the "ABG Agreement")were significantly overstated; (ii) the under performance of the ABG Agreement would foreseeably have a significant impact on the Company's financial results; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times. Zoom Video Communications, Inc. ( ZM ) ZM Lawsuit on behalf of: investors who purchased April 18, 2019 - April 6, 2020 Lead Plaintiff Deadline : June 8, 2020 TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/zoom-video-communications-inc-loss-form?prid=6323&wire=1 According to the filed complaint, during the class period, Zoom Video Communications, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Zoom had inadequate data privacy and security measures; (ii) contrary to Zoom's assertions, the Company's video communications service was not end-to-end encrypted; (iii) as a result of all the foregoing, users of Zoom's communications services were at an increased risk of having their personal information accessed by unauthorized parties, including Facebook; (iv) usage of the Company's video communications services was foreseeably likely to decline when the foregoing facts came to light; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times. You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. 55 Broadway, 10th Floor New York, NY 10006 jlevi@levikorsinsky.com Tel: (212) 363-7500 Fax: (212) 363-7171 https://www.zlk.com/ SOURCE : Levi & Korsinsky, LLP View source version on accesswire.com: https://www.accesswire.com/588204/CLASS-ACTION-UPDATE-for-CAN-TLRY-and-ZM-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders || Sorry, Bloomberg: Here Are 6 Reasons Why 2020 Is a Great Year for Bitcoin: Over a recent 30-day period, the total open interest for CME bitcoin options increased more than tenfold, from $35 million on May 11 to $373 million on June 10. Moreover, open interest made a new all-time high on six consecutive days from June 5-10.
Significant growth in CME futures points to rapidly growing interest by institutional investors in trading regulatedbitcoinderivatives products. Despite this growth, however, CME Group “has no plans to introduce additional cryptocurrency products,” a spokesperson told CoinDesk. Thus for now, CME Group’s cryptocurrency products will only involve bitcoin.
CME, which launched its bitcoin options product only at the beginning of 2020, now represents over 20% of the global bitcoin options market measured by open interest, or the total number of outstanding derivative contracts. It’s now the second-largest bitcoin options market in the world behind Panama-based Deribit, according toSkew.
Related:CME Bitcoin Options Market Grew 10x in the Past Month
See also:Crypto Derivatives Exchange OKEx Launches Options on Ether
Growth in CME’s bitcoin options market is “a strong signal that regulated institutions are exposing their books to bitcoin,” said Matt Kaye, managing partner at Los Angeles-based Blockhead Capital. “CME has a higher cost of capital and is closed on weekends, so anyone trading there is likely making those sacrifices because they have to.”
Much of CME’s growth appears to have come at the expense of Deribit. Market shares claimed by competing bitcoin derivatives markets LedgerX, Bakkt and OKEx have remained largely unchanged since January.
Options aren’t the only bitcoin derivatives market where CME is seeing gains. In May, CME’s bitcoin futures demonstrated similarlyremarkable growth, outpacing nearly every other bitcoin derivatives platform on a real and percentage growth basis. CME bitcoin futures open interest grew 29% over the last 30 days as institutional investors continue to enter the bitcoin derivatives market.
• Inactive Bitcoin Supply Reaches 4-Year High, Pointing to Bullish Sentiment
• Bitcoin Price Drop May Be a Bear Trap, Options Market Suggests
• Encrypted Messaging Site Privnote Cloned to Steal Bitcoin || Bitcoin Sees Small Gain as Gold Rallies to One-Month High: Bitcoin is reporting moderate gains on Monday as gold, a safe haven asset, rallies amid renewed coronavirus concerns.
At press time, the cryptocurrency is priced around $9,430 – up 1.5% on the day – having put in lows near $9,260 during the Asian hours, according to CoinDesk’sBitcoin Price Index.
Gold, however,printed a one-month highof $1,759 per ounce early on Monday and was last seen trading near $1,750.
Related:Market Wrap: Bitcoin Hits $9.6K as Bullish Crypto Sentiment Returns
The precious metal looks to be rising as the markets return their focus to the coronavirus pandemic, with the number of new cases rising at a faster pace in Germany, the U.S. and other parts of the world over the past few days. Investors seem worried the major economies may reimpose lockdowns to avoid a second wave of the outbreak, which could worsen an already deep economic crisis.
Some companies like tech giant Apple havealready announcedtemporary store closures in four U.S. states following a jump in COVID-19 cases last week.
Authorities in Australiahave extendeda state of emergency for four more weeks to July 19. Meanwhile, the uptick in the German infection rate caused by an outbreak among abattoir employees has sparked debate about working conditions in its meat processing industry,as noted bypopular macro analyst Holger Zschaepitz.
Hence, it’s perhaps not surprising safe haven assets like gold are drawing bids. A recent study by blockchain analysis firmChainalysis showsthe majority of bitcoin is held by those who treat it as “digital gold,” or an asset to be held for the long term.
Related:Liquidity on Bitcoin Perpetuals Exchange FTX Catches Up to Industry Leader BitMEX
Bitcoin’s uptick seen so far on Monday may bring cheer to those who believe in the safe haven narrative. However, a closer look at the markets suggests the cryptocurrency is tracking S&P 500 futures.
U.S. stock futures, which were down by nearly 1% during the early Asian trading hours, are now reporting a 1% gain.
Further, while gold has gained over 5% in the last two weeks, bitcoin has largely been restricted to a narrow range of $9,000 to $10,000 since the May 11 halving.
As the top cryptocurrency’s rally from the March 13 low of $3,867 looks to have stalled near $10,000, institutional investors are showing temporary exhaustion, according to one analyst.
“On the CME futures, we are seeing some signs that the bulls might be getting tired waiting for a breakout above $10,000. The average daily traded volume is trending down which is not surprising since it follows price volatility. But at the same time open interest is also trending down,”noted Ecoinometrics, a bitcoin analysis company.
As of Friday, futures listed on the Chicago Mercantile Exchange (CME), which is widely considered to be synonymous with institutional activity, registered trading volume of $195 million, down nearly 80% from the high of $914 million observed on May 11, according to crypto derivatives research firm Skew.
In addition, open interest – the number of contracts traded but not squared off by taking offsetting positions – was $394 million Friday, down 26% from the high of $532 million seen on May 19.
While futures activity is slowing down, CME options are reporting record open interest.
Option contracts worth $417 million were open on the CME on Friday, representing a staggering 3,000% rise from the tally of $13 million observed on May 1.
As such, one may argue that institutional interest in bitcoin hasn’t died down but merely shifted instruments.
It remains to be seen if the record open interest on options is rolled over to July expiry contracts following the expiry of June contracts this Friday.
As of this writing, there are 114,000 contracts set for expiry on June 26, according to Skew. If that open interest is not rolled over to July/September, it would confirm what futures activity is suggesting.
“The last two month-end/month-open (end of April/start of May and start of June) both saw large upside moves as stale positions were rolled off and new positions were put on,” Singapore-based QCP Capital noted on its Telegram channel. “We are questioning whether this can be 3 in a row after such a large open interest, comprising mostly upside calls rolls off, or has the short-term institutional bullishness mostly died down.”
Disclosure:The author holds no cryptocurrency at the time of writing.
• Bitcoin Sees Small Gain as Gold Rallies to One-Month High
• Bitcoin Sees Small Gain as Gold Rallies to One-Month High || Bitcoin News Roundup for June 8, 2020: After a traffic spike again caused severe disruption of its exchange service and angered users Coinbase said its working on technical changes aimed to provide more stability in the future. In a blog post published late on Friday, Coinbase said it is ready to implement a number of improvements, which would allow the exchanges servers to handle a sudden surge in usage as was experienced last Monday. Around 16:05 PDT [23:05 UTC], the price of BTC reached USD $10,000. In connection with the rising price, we experienced a 5x traffic spike over 4 minutes. Our autoscaling was unable to keep pace with this dramatic increase in traffic, reads the blog. This traffic spike led to increased latency, Coinbase said, which had a domino effect on other services. With its servers becoming saturated with users trying to access and use the platform, and error reports also spiked by around 50% as visitors experienced timeouts and other server errors. Within 20 or so minutes the firm had redeployed its API to increase the number of servers dealing with the traffic, as per the post. See also: Coinbase Suffers Brief Outage as Bitcoin Tumbles 10% in 30 Minutes After a review of the issues, Coinbase went on to list some of the changes that are currently being implemented to prevent similar traffic-spike outages from happening again: Related: Coinbase Outlines Tech Plan to Help Avert Future Outages The server health check system, which caused erroneous automated responses that worsened the June 1 issue, has already been updated to ensure that overloaded processes dont get taken out of service. Coinbase is also adjusting its systems to lower the impact of traffic spikes though pre-scaling creating more server instances under heavy load. It will also rely more on caching, which has users load a stored version of pages in the browser, rather than reload full pages every time the website is visited. Story continues I personally think that autoscaling is great for the e-commerce industry commented Paolo Ardoino, CTO at rival exchange Bitfinex. Spikes in website traffic at exchanges can take place within milliseconds and place significant demands on an exchanges capacity to maintain high availability at all times. Longer term, there are other changes planned too. Coinbase was light on the detail, however, saying it aims to improve its deployment process to mitigate some of the autoscaling issues we experienced. See also: Coinbase Offers US Feds New Crypto Surveillance Tools The exchange has something of a history of upsetting users with outages during important price moves. After online criticism reached conspiracy-theory levels after last weeks issue, Coinbases Justin Mart tweeted : We do not purposely take down the site. CoinDesk reached out to Coinbase for more detail on the planned changes but hadnt received a reply by press time. Related Stories Coincheck Customers Fall Victim to Data Breach After Domain Account Error Behind Prime Broker Buzzword Lies a Complex Strategy Game for Crypto Firms
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 9264.81, 9162.92, 9045.39, 9143.58, 9190.85, 9137.99, 9228.33, 9123.41, 9087.30, 9132.49
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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 for 2015-11-16]
BTC Price: 330.75, BTC RSI: 50.91
Gold Price: 1083.70, Gold RSI: 28.30
Oil Price: 41.74, Oil RSI: 38.38
[Random Sample of News (last 60 days)]
Identabit Challenges Bitcoin and BitShares: SYDNEY, AUSTRALIA / ACCESSWIRE / October 9, 2015 /Australian startup Thinking Active, led by New York software entrepreneur John Underwood, today revealed plans forIDentabit, an identity-based alternative to Bitcoin. Designed to liberate decentralized currencies, IDentabit enables regulatory acceptance and viral adoption by way of user association.
IDentabit has been a year in the making, made possible by a collaboration between Thinking Active and Virginia-based U.S. software partnerCryptonomex, Inc., led by Dan Larimer, principal architect of the Blockchain 2.0 project,BitShares.
BitShares was the first chain to introduce DACs (Decentralized Autonomous Corporations), smart contracts, a decentralized exchange, and DPoS (Delegated Proof of Stake), a highly efficient, rapid, and scalable means of block confirmations.
"With the increased regulatory attention directed at Bitcoin, brought on by the stream of crime empowered by anonymity, we concluded that there was a need for a chain that enabled AML/CTF compliance, enhanced funds security, denial of crimes empowered by anonymity, and ensured security of transfer by way of user association," Underwood explained. "We realize that this is the beginning of a long journey, but believe the time is right to recognize the might and purpose of compliance."
"While we respect Bitcoin and the purpose of anonymity, we see benefits in offering the market a choice between anonymity and identity, a choice that enables growth across a broader range of use cases," Underwood said.
IDentabit is best described as a permission-based ledger that enables proof of reserve without subjecting transactions to public scrutiny. IDentabit addresses P2P/AML/CTF compliance, Privacy (zero public scrutiny), user issued funds transfer, and decentralized transparent governance. It also introduces sustainable funding by way of Proof of Appreciation, enabling progressive issuance that only occurs in conjunction with favorable market conditions.
While the concept of identified transactions is simple to appreciate, actually implementing identity by way of a decentralized blockchain is not a trivial problem. "We could not have found this solution without the combined perseverance of our respective teams," Underwood said.
Of equal importance to compliance is scale: using DPoS the team was able to benchmark transaction capacity that exceeds four times that of Mastercard's claimed 24,000 TPS. Underwood pointed out, "As disruptors, we need scale if we are going to replace existing payment networks with P2P transactions. While we understand Bitcoin can get beyond 7 TPS, none of us has time to wait for Bitcoin's organic crawl to address issues of speed and compliance."
The timing of IDentabit's release has been motivated by growing interest in blockchain technology by institutions collaborating with IBM and Ethereum. These teams are intent on building institutionalized identity-based alternatives.
Ironically to buy time, these projects depend on the crypto-community's loyalty to anonymity. This loyalty has led to widespread acceptance of an assumption that for decentralized currencies to be disruptive, digital currencies must put ideology before security and compliance. This blind assumption has, until now, blocked the innovation required to compete with emerging institutional alternatives.
"We believe that if we don't act now to protect decentralized currencies with an identity-ensured alternative to Bitcoin, we are handing the keys of change to the very organizations we sought to disrupt in the first place," Underwood said.
Contact Thinking Active:
John Underwood+61488008371nextstep@thinkingactive.comThinking Active 44 Market St , Level 6 Sydney NSW 2000 Australia
SOURCE:Thinking Active || Bitcoin flounders in Australia as regulatory worries bite: By Byron Kaye and Swati Pandey
SYDNEY (Reuters) - Australian businesses are turning their backs on bitcoin, as signs grow that the cryptocurrency's mainstream appeal is fading.
Concerns about bitcoin's potential crime links mean many businesses have stopped accepting it, a trend accelerated by Australian banks' move last month to close the accounts of 13 of the country's 17 bitcoin exchanges.
The development is a blow to hopes of bitcoin fans that the currency can play a significant role in everyday business transactions in developed economies, with Australia once seen as one of its most promising markets. It is estimated to hold 7 percent of the currency's $3.5 billion global value, a sizeable figure in a country of just 24 million people.
"We've got a squeaky clean reputation, and that's actually worth a lot more to us than dipping into this," said James Snodgrass, principal of Sydney's Forsyth Real Estate, which ditched the currency in late 2014 after the firm was investigated by the federal tax office.
Forsyth had offered to collect home deposits and other realtor fees via bitcoin to cater to international buyers. The tax office probe found no wrongdoing but Forsyth was burned by the negative publicity and bailed out before ever taking a bitcoin payment.
Although most mainstream banks in Europe and the U.S. already refuse to keep bitcoin-affiliated accounts, developments in Australia represent the first coordinated shutdown of bitcoin exchanges by a country's banking system.
The move makes it much harder for people to convert regular currencies in to or out of bitcoin, threatening its long-term value.
"It really runs on people using bitcoin, and if nobody uses it then it's worthless," said University of Technology Sydney senior finance lecturer Adrian Lee.
BANK SHUTDOWN
The banks' shutdown appears at odds with a government inquiry which in August recommended removing sales tax for people who buy bitcoin. The Australian anti-money laundering agency, AUSTRAC, told Reuters that banks have no legal obligation to close bitcoin accounts.
The so-called "Big Four" banks - Commonwealth Bank of Australia, Westpac Banking Corp, Australia and New Zealand Banking Group and National Australia Bank - directed inquiries about bitcoin to the Australian Bankers' Association.
Tony Pearson, the association's acting chief executive, wouldn't confirm the coordinated rejection of bitcoin but said in an email that its "lack of transparency and regulatory oversight raises a number of risks for users and also poses risks for the payments system, the integrity of the financial system and the erosion of the tax base".
Australia's organized crime agency has said it is concerned the currency's untraceable nature makes it attractive for money laundering and selling illicit drugs.
In the U.K. and the U.S., most large banks have already cut ties with bitcoin account holders, but lack of industry co-ordination has left room for individual lenders to support the currency, including Germany's Fidor Bank AG, which operates in Britain, and tech-focused Californian lender Silicon Valley Bank.
CLOSE, MOVE OFFSHORE OR SNEAK AROUND
The 13 Australian bitcoin exchanges whose accounts were closed by the banks have shut operations.
The remaining four have had their accounts frozen, and now face three options: close, move overseas or spread their business into several smaller bank accounts to avoid detection by their banks.
Buyabitcoin.com.au, one of the remaining four exchanges, said it is still considering its options.
"It makes it, obviously, hard to take payments from our customers, but we have a couple of relationships left," said Andrew Smith, general manager of the Melbourne-based exchange.
Smith declined to identify which bank his firm is now using from fear of repercussions but said he plans to move the business offshore.
Two sources told Reuters that regional lender Bank of Queensland still held some bitcoin accounts. The bank said in an email that "virtual currencies fall outside of our risk appetite" but did not deny or confirm it had these accounts.
RETAIL PULLOUT
Some industry watchers believe ambivalence may be bitcoin's biggest problem.
At least six Australian retail businesses, which as recently as 2014 courted publicity for offering sales by bitcoin, told Reuters they were considering exiting the currency.
"If governments begin to aggressively attack the whole idea of cryptocurrencies and give it a bad name, it might have an adverse effect on our brand by accepting it," said David Brim, co-founder of off-road vehicle maker Tomcar Australia, which has sold one car using bitcoin since introducing it in November 2014.
Grant Fairweather, owner of the Metropolitan Hotel in Sydney, said he started accepting bitcoin when a group of digital currency fans chose his pub as their regular meeting venue.
"They tell me that it's doing quite well, but that doesn't transpose into here," said Fairweather, who sells about A$100 ($70) worth of drinks via bitcoin from the meetings and does no other bitcoin trade.
An online clothing retailer told Reuters she had made no bitcoin sales since introducing the service in 2013 and asked not to be named, saying "since bitcoin's going out anyway, we'd rather not throw our name back into it".
(Additional reporting by Nathan Lynch in SYDNEY and Jemima Kelly in LONDON. Editing by Jane Wardell and Rachel Armstrong) || Bitcoin keeps surging, makes another new high for 2015: A beer poured for a customer sits on a bar next to a Bitcoin sign in central Sydney, Australia, September 29, 2015. REUTERS/David Gray (A sign welcomes consumers paying in bitcoin.Thomson Reuters) 2015 may be the year that bitcoin rebounded. The digital currency smashed through a new high for the year on Monday morning, trading at nearly $370 and continuing its impressive streak as of late. Bitcoin has been on a big run for much of the last two months, gaining about 70% on private exchanges since hitting a second-half low of $213 in late August. For investors who bought in during bitcoin's headiest days to date, in early 2014, that's not enough of a rebound: before the price of the digital currency plummeted in 2014, it reached more than $1100 a bitcoin. Now, after bitcoin's big seven-week run, it is trading at around $363 a coin. Even as detractors to bitcoin point toward a difficult-to-regulate culture that has popped up around the cryptocurrency, there is a growing push from well-known investors to advance the payment technology . In October, investors including MasterCard and Bain Capital Ventures provided backing to Barry Silbert's Digital Currency Group . Already, Silbert's latest project has backed dozens of cryptocurrenty startups, largely focusing on bitcoin deals. BitcoinCharts.com tracks the daily price of the cryptocurrency, and captures the last month's run-up in value. Monday morning marked the biggest single day of gains for bitcoin, as it rose about 10% in one day. Screen Shot 2015 11 02 at 4.53.04 PM (Bitcoin value has been growing steadily over the last two months.BitcoinCharts.com) NOW WATCH: Ex-Wells Fargo employees reveal how some bankers abused customers More From Business Insider Chase has debuted a new card aimed at small businesses Deutsche Bank is shuffling some of its top investment bankers in the US American Express has linked up with Global Payments || 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) || 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 || Identabit Challenges Bitcoin and BitShares: SYDNEY, AUSTRALIA / ACCESSWIRE / October 9, 2015 / Australian startup Thinking Active, led by New York software entrepreneur John Underwood, today revealed plans for IDentabit , an identity-based alternative to Bitcoin. Designed to liberate decentralized currencies, IDentabit enables regulatory acceptance and viral adoption by way of user association. IDentabit has been a year in the making, made possible by a collaboration between Thinking Active and Virginia-based U.S. software partner Cryptonomex , Inc., led by Dan Larimer, principal architect of the Blockchain 2.0 project, BitShares . BitShares was the first chain to introduce DACs (Decentralized Autonomous Corporations), smart contracts, a decentralized exchange, and DPoS (Delegated Proof of Stake), a highly efficient, rapid, and scalable means of block confirmations. "With the increased regulatory attention directed at Bitcoin, brought on by the stream of crime empowered by anonymity, we concluded that there was a need for a chain that enabled AML/CTF compliance, enhanced funds security, denial of crimes empowered by anonymity, and ensured security of transfer by way of user association," Underwood explained. "We realize that this is the beginning of a long journey, but believe the time is right to recognize the might and purpose of compliance." "While we respect Bitcoin and the purpose of anonymity, we see benefits in offering the market a choice between anonymity and identity, a choice that enables growth across a broader range of use cases," Underwood said. IDentabit is best described as a permission-based ledger that enables proof of reserve without subjecting transactions to public scrutiny. IDentabit addresses P2P/AML/CTF compliance, Privacy (zero public scrutiny), user issued funds transfer, and decentralized transparent governance. It also introduces sustainable funding by way of Proof of Appreciation, enabling progressive issuance that only occurs in conjunction with favorable market conditions. While the concept of identified transactions is simple to appreciate, actually implementing identity by way of a decentralized blockchain is not a trivial problem. "We could not have found this solution without the combined perseverance of our respective teams," Underwood said. Of equal importance to compliance is scale: using DPoS the team was able to benchmark transaction capacity that exceeds four times that of Mastercard's claimed 24,000 TPS. Underwood pointed out, "As disruptors, we need scale if we are going to replace existing payment networks with P2P transactions. While we understand Bitcoin can get beyond 7 TPS, none of us has time to wait for Bitcoin's organic crawl to address issues of speed and compliance." Story continues The timing of IDentabit's release has been motivated by growing interest in blockchain technology by institutions collaborating with IBM and Ethereum. These teams are intent on building institutionalized identity-based alternatives. Ironically to buy time, these projects depend on the crypto-community's loyalty to anonymity. This loyalty has led to widespread acceptance of an assumption that for decentralized currencies to be disruptive, digital currencies must put ideology before security and compliance. This blind assumption has, until now, blocked the innovation required to compete with emerging institutional alternatives. "We believe that if we don't act now to protect decentralized currencies with an identity-ensured alternative to Bitcoin, we are handing the keys of change to the very organizations we sought to disrupt in the first place," Underwood said. Contact Thinking Active: John Underwood +61488008371 nextstep@thinkingactive.com Thinking Active 44 Market St , Level 6 Sydney NSW 2000 Australia SOURCE: Thinking Active View comments || 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. Story continues 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 || 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. TheSPDR 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 thebest-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": "SILJ", "Fund": "PureFunds ISE Junior Silver (Small Cap Miners/Explorers)", "Return (%)": "27.86"}, {"Ticker": "COPX", "Fund": "Global X Copper Miners", "Return (%)": "25.61"}, {"Ticker": "PLTM", "Fund": "First Trust ISE Global Platinum", "Return (%)": "25.30"}, {"Ticker": "CU", "Fund": "First Trust ISE Global Copper", "Return (%)": "25.23"}, {"Ticker": "SLVP", "Fund": "iShares MSCI Global Silver Miners", "Return (%)": "25.07"}, {"Ticker": "SGDM", "Fund": "Sprott Gold Miners", "Return (%)": "24.04"}, {"Ticker": "KWT", "Fund": "Market Vectors Solar Energy", "Return (%)": "23.29"}, {"Ticker": "RING", "Fund": "iShares MSCI Global Gold Miners", "Return (%)": "23.28"}, {"Ticker": "GDX", "Fund": "Market Vectors Gold Miners", "Return (%)": "22.60"}, {"Ticker": "SIL", "Fund": "Global X Silver Miners", "Return (%)": "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 theSPDR 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 theMarket Vectors Gold Miners ETF (GDX | C-79)during the first half of the month.
Investors Buying BondsWhile 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.
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 theETF.com fund flows tool, a number of bond ETFs made the top 10 inflows list:
Source: ETF.com Fund Flows Tool
TheiShares 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 BarclaysHigh Yield Bond ETF (JNK | B-68)and theiShares 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-heavyPowerShares QQQ (QQQ | A-66)and the large-capiShares Russell 1000 Value (IWD | A-90).
In terms of sectors, investors liked theIndustrial Select SPDR (XLI | A-92)and theConsumer Discretionary Select SPDR (XLY | A-91).
Contact Sumit Roy atsroy@etf.com.
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Permalink| © Copyright 2015ETF.com.All rights reserved || Bitcoin May Be Flailing, But Blockchain Is On The Rise: Bitcoin has suffered from several high-profile scandals which have branded the cryptocurrency as a tool for criminals and given the public reason to question its safety. However, blockchain, the ledger-like technology that bitcoin runs on, has been touted as one of the most important technological advances of the past decade. Many believe that although bitcoin may eventually die out, blockchain will continue to gain support as more and more industries find use for the technology.
Blockchain Not Bitcoin
On Tuesday at Bloomberg Markets Most Influential Summit, blockchainreceived a nodfrom Blythe Masters, the CEO of Digital Asset Holdings. Masters remarked that while bitcoin was of no interest to her, blockchain had the potential to transform the finance space. Blockchain has been suggested as a way to revamp financial markets and make transactions faster and more streamlined, something Masters says is an important trend to watch.
Related Link:Charlie Shrem Weighs In On Bitcoin From His Prison Cell
Support From The Finance Industry
Masters isn't alone in thinking blockchain has potential, a recent survey by Greenwich Associates showed that the majority of finance professionals agree. When asked whether blockchain can continue to thrive without bitcoin, 73 percent of the 55 participants said "yes." That attitude suggests that although bitcoin is struggling to gain mainstream approval, blockchain is already being considered a viable option for finance firms looking to improve their operations.
Several Applications
While financial markets have been at the forefront of discussions about the use of blockchain, other industries also see the technology as a potential game-changer. Blockchain would be able to facilitate online auctions as well as create smart contracts, something that could be applicable in several sectors.
See more from Benzinga
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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.
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 $296.01 on the BitStamp platform.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by David Gregorio)
[Random Sample of Social Media Buzz (last 60 days)]
RT @christastevie Pondok Daud @youth_bfa Bdg. Setiap hari Sabtu pk 16.00 - BTC Lt 3 (Ruang Pondok Daud) Bandung, see you ! :) || Current price: 308.52$ $BTCUSD $btc #bitcoin 2015-11-11 17:00:04 EST || Current price: 198.98£ $BTCGBP $btc #bitcoin 2015-11-01 04:00:03 GMT || Re: Taxes Regarding Cryptocurrency: Quote from: NorrisK on October 22, 2015, 07:47:00 AMIf you don't ... http://cur.lv/rdtnz #bitcoin || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000004
Bittrex: 0.00000004
Average $9.0E-6 per #reddcoin
03:00:01 || $333.00 at 18:45 UTC [24h Range: $323.42 - $342.00 Volume: 25641 BTC] via #btcusdpic.twitter.com/X0akrHP3kE || Mañana el mundo #bitcoin
El FMI, Goldman Sachs y diversos bancos globales voltean a bitcoin
@josepimpo a las 19:00 pic.twitter.com/gy0dcPQg4u || Bitcoin Technology Poised to Grow, CEO Says: By Dow Jones Business News, October 21, 2015, 05:15:00 P... http://bit.ly/1GqAdcy #Bitcoin || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000003
Bittrex: 0.00000003
Average $9.0E-6 per #reddcoin
03:45:00 || Current price: 149.25£ $BTCGBP $btc #bitcoin 2015-09-23 19:00:02 BST
|
Trend: up || Prices: 335.09, 334.59, 326.15, 322.02, 326.93, 324.54, 323.05, 320.05, 328.21, 352.68
|
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)]
Honeywell (HON) Displays Solid Prospects Amid Headwinds: On Mar 3, we issued an updated research report onHoneywell International Inc.HON.In the past six months, this Zacks Rank #3 (Hold) stock has returned 23.9% compared with the industry’s growth of 27%.
Honeywell is well poised to benefit from strength across its defense and space business, supported by stable U.S. government defense budgets. In both third and fourth quarters of 2020, its defense and space business reported double digit organic sales growth on a year-over-year basis. Also, signs of recovery in business aviation aftermarket is likely to be advantageous. Moreover, solid demand for warehouse automation products and robust backlog level are likely to support its Intelligrated business.Also, Honeywell’s strong cash flow position adds to its strength. For 2021, it expects free cash flow to be between $5.1 billion and $5.5 billion. In addition, it remains committed to rewarding shareholders through share buyback programs and dividend payouts. Notably, in 2020, the company repurchased shares worth $3,714 million and paid out dividends worth $2,592 million. Further, in September 2020, it announced a 3.3% hike in its quarterly dividend rate.Moreover, the company’s Ballard Unmanned Systems buyout (October 2020) is expected to strengthen its prospects in the unmanned aerial systems market. The buyout of Rocky Research in the same month is likely to have bolstered prospects of its existing offerings in the energy storage, power and thermal management, and power generation arenas. In addition, its agreement to acquire Sparta Systems (anticipated to close by the first quarter of 2021), will help in strengthening its position in digital transformation, industrial automation and enterprise performance management solutions space.However, headwinds across Honeywell’s commercial original equipment business due to lower air transport, slowdown in original equipment build rates and lower business jet demand are likely to continue affecting its revenues in the near term. Also, persistent weakness in its IoT and gas sensing businesses weighs on its top-line performance.Also, the company’s high-debt profile remains a concern. Exiting 2020, its long-term debt was $16,342 million, reflecting an increase of 47.1% on a year-over-year basis. Any further rise in debt levels can increase the company’s financial obligations.
Some better-ranked stocks areDanaher CorporationDHR,Chart Industries, Inc.GTLS andGriffon CorporationGFF, each carrying a Zacks Rank #2 (Buy). You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Danaher delivered a trailing four-quarter earnings surprise of 19.86%, on average.Chart Industries delivered a trailing four-quarter earnings surprise of 30.8%, on average.Griffon delivered a trailing four-quarter earnings surprise of 115.48%, on average.
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 reportDanaher Corporation (DHR) : Free Stock Analysis ReportGriffon Corporation (GFF) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || Penumbra (PEN) Launches INDIGO System Lightning 7 in US: Penumbra, Inc.PEN recently announced the commercial availability of its INDIGO System Lightning 7 in the United States. Notably, Lightning 7 is designed for single session arterial thrombus removal.
The latest technology expands Penumbra’s offering of the Indigo Aspiration System with Intelligent Aspiration for mechanical thrombectomy.
For investors’ note, Penumbra is a global healthcare company, which designs, develops, manufactures and markets medical products, and has an extensive portfolio that addresses challenging medical conditions in the target markets.
Penumbra continues to make progress with another latest technology that has the potential to increase single-session thrombus removal, thereby enhancing patient outcomes.
Indigo system Lightning 7 combines the new Indigo system CAT 7 aspiration catheter with Lightning intelligent aspiration powered by Penumbra’s Engine. Notably, CAT 7 is a high-power, low-profile catheter that features laser-cut hypotube technology and circumferential sweep designed for dependable delivery and maximized clot extraction.
Penumbra’s Lightning intelligent aspiration features clot detection technology that enables the operator to identify thrombus location and is also designed for blood loss reduction.
INDIGO System Lightning 7 streamlines clot removal in the peripheral arterial vasculature with low profile access and excellent trackability, which make vessel navigation much easier.
Considering the fact that in the United States, the number of patients presenting to the hospital with arterial thrombus is significantly higher than patients presenting with thrombus elsewhere in the body. The introduction of another advanced technology will enable physicians to reduce the need for thrombolysis, which in turn, can reduce demand for ICU beds.
Per management, the use of INDIGO System Lightning 7 will help physicians simplify arterial thrombus removal with more single-session results.
During its fourth-quarter 2020 earnings release on Feb 23, 2021, Penumbra reported that the solid performance of Lightning products drove strong growth in the vascular segment. The company also confirmed the receipt of an indication from the FDA for the treatment of pulmonary embolism or PE pertaining to Lightning 12.
Earlier in November 2020, Penumbra announced the receipt of 510(k) FDA clearance for an expanded indication of the latest iteration of the Indigo Aspiration System, Lightning 12.
Per MarketsandMarkets, the global thrombectomy devices market is expected to reach $1.45 billion by 2022, seeing a CAGR of 6.7%. Rising number of minimally invasive procedures, ongoing technological advancements, growing demand for minimally invasive thrombectomy procedures, and an increasing healthcare expenditure across the emerging markets are the key catalysts for the market.
Considering the market growth, launch of Penumbra’s INDIGO System Lightning in the United States is well timed.
Shares of the company have gained 98.6% in a year’s time compared with the industry’s growth of 50.6%.
Currently, Penumbra sports a Zacks Rank #1 (Strong Buy).
A few other top-ranked stocks from the broader medical space areEnvista Holdings CorporationNVST,Meridian Bioscience Inc.VIVO andOwens & Minor, Inc.OMI. You can seethe complete list of today’s Zacks #1 Rank stocks here.
Envista’s long-term earnings growth rate is estimated at 24%.
Meridian Bioscience’s long-term earnings growth rate is projected at 61%.
Owens & Minor’s long-term earnings growth rate is estimated at 49%.
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 reportOwens & Minor, Inc. (OMI) : Free Stock Analysis ReportMeridian Bioscience Inc. (VIVO) : Free Stock Analysis ReportPenumbra, Inc. (PEN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || Microsoft Looked To Acquire Pinterest: FT: Microsoft Corporation(NASDAQ:MSFT) held talks withPinterest Inc(NYSE:PINS) related to a possible acquisition, the Financial TimesreportedWednesday.
What Happened:There are currently no active negotiations between the companies, people familiar with the matter told FT.
The stock of the $51 billion visual discovery engine has risen 600% during the coronavirus pandemic. Pinterest has indicated it wants to remain an independent company, as per FT.
Why It Matters:Pinterest’s purchase would have been the largest deal for the Redmond, Washington-based tech giant.
Both Pinterest andSnap Inc(NYSE:SNAP) haverecorded a successful year, with the former reaching $706 million in revenue and an increase in monthly active users to 459 million as of the fourth quarter.
Pinterest Q4 EPS jumped to 43 cents, beating a 32 cents estimate, a 34% upside.
Meanwhile, social media giantFacebook Inc(NASDAQ:FB) isfacing pushbackfromApple Inc(NASDAQ:AAPL) over privacy labels.
See also: How To Buy Microsoft Stock
Last year, Microsoft was reported to have been interested in the purchase of theentire global business of TikTok, a popular Chinese short-form video app owned by ByteDance.
Eventually,Oracle Corp(NYSE:ORCL) andWalmart Inc(NYSE:WMT) emerged as possible buyers of TikTok.
See Also:TikTok Seeks Extension Of US Deadline On Forced Sale To Oracle, Walmart
The TikTok deal has beenindefinitely postponedby the administration of President Joe Biden.
Price Action:Microsoft shares closed nearly 0.4% lower at $242.82 on Wednesday and fell 0.4% in the after-hours session. On the same day, Pinterest shares closed 2.15% higher at $81.12 and fell 0.15% in the after-hours session.
For news coverage in Italian or Spanish, check outBenzinga ItaliaandBenzinga España.
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Start9 Labs to Build on Its Self-Sovereign, Private Internet Solutions With $1.2M in Funding: Most people never even see the server that runs the internet network in their houses. But Start9 Labs is working to change that with its latest upgrades to the Embassy Server, a self-sovereign, private internet server and operating system for your home. It’s an ambitious project to make self-sovereign computing viable for consumers, but one that offers a way out of the centralized internet people know. To expand on their efforts, Start9 Labs recently closed a $1.2 million funding round spearheaded by Collider Ventures, Ten31 and Erik Voorhees, CEO of the decentralized exchange ShapeShift. The money will drive additional Embassy developments including additional apps for its decentralized app store, further open-source development by contributors and the “killer of all messaging apps.” Related: What's Next for Beeple After Dizzying $69M NFT Sale? “Self-sovereignty in a digital age is impossible when all applications and data are served by a handful of centralized custodians,” said Voorhees. “Start9 is building an ambitious alternative and it’s arriving upon the world stage at just the right time.” Creating a self-sovereign, private internet network Start9 Labs ’ Embassy server and operating system (OS) creates its own private internet network. It comes with its own operating system as well as an expanding range of services such as bitcoin transactions, messaging and password management that cut out middlemen and use the Tor network to communicate. Read more: Start9 Labs Pitches a Private At-Home Server. And It Works Start9 Labs is not building on Web 2.0; rather, it is hijacking that existing infrastructure so people can run their own private networks. To build a new internet from the ground up would require a physical hardware device in every single home Hill told CoinDesk last year. The Embassy OS and server is hosted on Raspberry Pi delivered preset by Start9, or it can be set up on its own by any user, given the OS is open source. Related: Bitcoin Not a Long-Term Allocation, Says Man Group CEO What makes the Embassy interesting is it takes a generalized approach to running self-hosted software in an easy-to-use way. While terms such as “sovereign computing” and “self-hosted server” might seem opaque to the general public, the Embassy lets users set up a server and make it easy to use. It’s pretty much a plug-and-play device. Internet service providers (ISPs), such as Verizon, for example, have some of the most invasive views into, and surveillance of, network traffic on the networks they provide. They’re hard to escape because there are only a handful of companies in the U.S., for example, that offer internet services. Story continues Privacy and independence are hard to achieve in such an environment, particularly for people in authoritarian countries where private internet services would be a boon to its citizens. Self-sovereign computing offers one way around these methods of control. There aren’t huge profits to be made in this area, and that’s what makes the funding round important. It’s rare to see hundreds of thousands dollars being put behind an entirely new ecosystem like this. Where the Embassy is headed Since launching in January 2020, the availability of services has only expanded. “The 0.3.x architecture is radically different from 0.2.x,” said Matt Hill, co-founder of Start9 Labs. “It introduces external drive support, such that Embassy users can choose which service to install on which drive and use as much space as they want. This also results in dramatically faster sync times.” A marketplace redesign will also allow users to search for new services by category, such as “Bitcoin/Lightning,” “Messaging,” “Storage,” “Social, and “Blockchains.” Start9 Labs’ software development kit makes it easy for anyone to package a service for distribution on the Embassy Marketplace, meaning Start9 will become less and less involved with the service roadmap. “For instance, both Monero and Haven will soon be available, thanks entirely to their enthusiastic communities,” said Hill. “We believe very strongly that people should be able to run whatever software they want to run on their own server.” See also: Becoming Self-Sovereign: How to Set Up a Bitcoin Node, With Lightning “Bitcoin’s vision of sovereignty is not complete without a computing platform that makes it easy to run a node alongside other self-hosted software,” said Ofer Rotem of Collider Ventures. “Start9 Labs has developed this platform with great [user experience], and is a great fit for our thesis and portfolio. We are excited by their progress so far, and for what’s to come.” A hundred services by end of year Hill expects upward of 100 services to be available on the Marketplace by the end of the year. He said the biggest deal of Q2 is Matrix, “the killer of all messaging apps.” “Matrix is the holy grail of messaging: an open, federated protocol that can accommodate all the advanced messaging and voice/video features consumers are accustomed to, but with no third-party servers, no middlemen, no chance of corruption in the form of back doors or censorship, totally self-served and accessible over a private, end-to-end encrypted, onion-routed channel,” said Hill. Start9 Labs is also planning to introduce Tor relay-node functionality into the Embassy itself, meaning users can choose to have their Embassy serve as a Tor relay node. That would allow users to get fast initial load times when connecting to the websites of their Embassy while simultaneously enhancing the robustness and efficiency of the Tor network itself. “We are about to flood the Tor network with thousands of new relay nodes, making Tor bigger and faster than ever,” said Hill. Related Stories Start9 Labs to Build on Its Self-Sovereign, Private Internet Solutions With $1.2M in Funding Start9 Labs to Build on Its Self-Sovereign, Private Internet Solutions With $1.2M in Funding View comments || Bitcoin Is Trading at a 46% Premium on Luno Nigeria After Central Bank Ban: Nigerias central bank restrictions on cryptocurrencies are still affecting exchanges operating in the African nation. On Friday, bitcoin was trading at a 46% premium on Luno in Nigeria, meaning the price of one bitcoin on the exchange was much higher than its average price on other major exchanges of around $48,000 at the time. This is up from a 38% premium earlier in the week. Luno is a subsidiary of Digital Currency Group, CoinDesks parent company. Earlier this month, Nigerias central bank (CBN) prohibited local financial institutions from servicing crypto firms. The exchange said it was experiencing a drop in liquidity as a result of the ban. Marius Reitz, Lunos general manager for Africa, told CoinDesk that while liquidity issues dont have a yes or no answer, the letter from the [Central Bank of Nigeria] caused a market shock. Related: Crypto Exchange INX to Raise C$25M, List on TSVX for 'Added Credibility' Luno still has liquidity, but it is a third of what it was previously, Reitz said. Liquidity typically indicates a firms ability to pay off its short-term debt obligations. But in the context of cryptocurrency exchanges, liquidity reflects the ease with which a crypto asset can be converted to cash or other cryptocurrencies without influencing the assets price too much. Low liquidity makes this conversion more difficult, and drives the asset price up. Typically, bitcoin prices on each exchange differs slightly depending on the exchanges liquidity , as well as the fact that bitcoin, being a decentralized asset, has no standardized pricing . Still, the price on Luno far exceeds what a typical range of prices might look like. Central bank order Related: Tether Allegedly Received Ransom Note Demanding 500 BTC Although the ban wasnt new , the central bank nonetheless ordered all local banks to shut down accounts tied to crypto firms. In response to the order, Binance Nigeria suspended Nigerian naira deposits on the platform, while Luno halted both withdrawals and deposits. Luno is still not able to process deposits and withdrawals, Reitz said. He added that immediately following the order, people were trying to sell bitcoin back to naira so they could withdraw funds to their personal accounts, and the central bank order led to lower demand for bitcoin. In fact, unable to maintain accounts with traditional exchanges, Nigerian crypto users began turning to peer-to-peer trading platforms. Now, as the price of bitcoin reaches new highs, because there arent as many people buying [or] selling bitcoin in Nigeria as there were before, it can lead to periods of low liquidity causing price spikes and dips, Reitz said in an email to CoinDesk. Story continues Bitcoin is already trading at a slight premium on some exchanges in Nigeria, where the informal dollar rate and inflation can influence the prices. On Friday, the official U.S. dollar to naira exchange rate published by the Central Bank of Nigeria was 379 naira per $1. Meanwhile, bitcoin prices on a peer-to-peer platform Paxful reflected the informal dollar exchange rate in Nigeria: 475 naira for $1. On Luno, bitcoin was listed at around 33,000,000 naira, which meant $1 was worth around 690 naira. One Twitter user pointed out that one dollar was going for 700 naira on Feb. 20 on the platform. In other words, bitcoin could cost a user between $45,866 and $69,000 in Nigeria at the moment. Another user ( @MarufLawal ) took to Twitter to raise his concerns about Lunos high premium , going as far as to accuse the platform of manipulating prices. The current rate of [b]itcoin and all crypto on your platform doesnt reflect reality, the user said. Luno doesnt set the price of bitcoin or any cryptocurrencies available on the platform, Reitz said. Related Stories Bitcoin Is Trading at a 46% Premium on Luno Nigeria After Central Bank Ban Bitcoin Is Trading at a 46% Premium on Luno Nigeria After Central Bank Ban View comments || Bitcoin Maintains Upswing As Ethereums All Time High Journey Sees Roadblock: Bitcoin has maintained a steady upswing, despite the bear forces that seem to be active in the markets today. Ethereum is showing bearish tendencies, as altcoins including Cardano (ADA), Polkadot (DOT), XRP (XRP), Uniswap (UNI), and Chainlink (LINK) are all also bowing to the dictatorship of the bears. In general, the dominant stride of Bitcoin has kept the global market capitalization in the green zone, up 2.13% in the past 24 hours to $1.69 trillion. This article today focuses on the price actions of Bitcoin and Ethereum, and the possible short and medium-term projections for the two leading digital assets. Bitcoins Demand Remains High, A Bullish Backing For an Ambitious Ride Bitcoins dominance in the market is not about to be pulled down as many analysts have suggested as the premier cryptocurrency is continuously seeing increased demand, from both retail and institutional investors. In a bid to meet this demand, American investment banking giant JPMorgan Chase & Co filed an application with the United States Securities and Exchange Commission (SEC) to launch an investment vehicle that will track the performance of 11 firms including MicroStrategy and Tesla with direct or indirect exposure to Bitcoin. The primary aim of the move is to give more institutional investors a new option to get involved in Bitcoin without directly owning the digital currency. In terms of the rub off on the price of the asset, BTC bulls are delighted by the news from JPMorgan Chase, but the immediate pressure from undecided HODLers to offload some of their holdings is casting doubt on the imminent bullish runs to new highs. Despite the maintenance of an uptrend with a growth of 3% to $55,580.00 according to CEX.IO price feeds, the bear actions are still visible on the daily BTC-USD chart on TradingView. The chart shows a bullish trend, indicating that there are more buyers than sellers in the past 24 hours. However, the last candlestick shown on the chart is bearish, a depiction of an attempted takeover by the bears. By and large, BTCs Relative Strength Index (RSI) is currently slightly below the sell-zone of 70, but the 9-day Moving Average is bullish, reassuring market enthusiasts on an imminent ride to new highs. Story continues From current indications, Bitcoin may see a little correction to retouch $54,000, after which, a run to $58,000 will be the next stop. Ethereums Push For Network Usability and Miners Protest Giving a Bearish Advantage The high gas fees of the Ethereum Network have spurred many users to abandon the blockchain in search of alternative blockchains that offer cheap and fast transactions. Nonetheless, the majority of the Stablecoins out there including Tether (USDT) and USDC are still utilizing the network, helping to maintain the relevance amid planned exodus by DeFi smart contracts. While anticipating the initiation of the Ethereum Improvement Protocol (EIP) 1559 in July, Some Ethereum miners are in protest as the planned token burning is set to affect their personal profitability. Perhaps, this is why the price of Ethereum is seeing a roadblock on its way to beat the $2,000 psychological level. At the time of writing, Ethereum is exchanging hands at $1,782.72, a drop of 1.48% in the past 24 hours. Ethereum has traded below the $2,000 level since February 20th, and the current internal battles are undermining the mainstream investors desire to see the coin trade at new levels. The daily ETH-USD chart above shows the unrelenting battle between the bulls and the bears. Though the Awesome Oscillator is above the zero benchmarks, the price is not entirely at a trusted level to soar, as it is racing away from the upper Bollinger Band as seen. The hurdles to cross are the $1,900 and the $2,000 resistance levels, but until the bulls break free from the $1,800 level, soaring to these levels may yet be halted for a while. But a consistent push will see the coin back on track to aim at the $2,500 target in the mid-term. Konstantin Anissimov, Executive Director at CEX.IO This article was originally posted on FX Empire More From FXEMPIRE: EOS, Stellars Lumen, and Trons TRX Daily Analysis March 11th, 2021 Ethereum, Litecoin, and Ripples XRP Daily Tech Analysis March 11th, 2021 Oracle Shares Slump in After-Hours Trading as Cloud Revenue Misses Estimates European Equities: Its All Eyes on the ECB Monetary Policy Decision and Press Conference AUD/USD Daily Forecast Resistance At 0.7780 In Sight General Motors Rallies to All-Time High || 18th February: BTC/USD Declines below 52,000, ETH/USD Comes Closer to 2,000: BTC/USD The pair was declining until the afternoon. Between 12:00 and 13:00 UTC, the pair continued trending down and reached 50,900, based on the CEX.IO exchange rate, but bounced off the intraday 51,200 support level formed on 17th February and closed the hour above the open. This let BTC/USD retrace the losses in the next two hours. BTC/USD had travelled back to 52,300 by 15:00 UTC but was unable to try and test the 52,400 level of resistance and turned straight down once again between 15:00 and 16:00 UTC. The trading pair closed the hour at 51,444 as per the CEX.IO pricing and, bouncing to 52,000 between 16:00 and 17:00 UTC, continued trending sideways under 52,000 for the most part until the end of the trading day. BTC/USD came under some selling pressure in the last two hours and came down from 52,110 to 51,635 at the day’s end. The lack of sufficient buying sentiment and buying trading volumes was the reason why BTC/USD could not attempt to continue its ascent past 52,400. The sideways price action shows that traders are still expecting the uptrend to continue, while market makers might be using this flat channel to make new liquidity to make a breakthrough past 52,400. The positive news factor could be a quick resolution to this stagnation around 52,000. Therefore, some positive news regarding the Bitcoin market may be enough for BTC/USD to get at 52,400 and make a breakthrough. Considering the overall bullish sentiment dominating BTC/USD, we believe this sideways price action to be another milestone in keeping BTC/USD on the rising course. Thus, we expect the near BTC/USD target to be at around 54,300. ETH/USD ETH/USD opened the trading session 18th February at 1,849 and made substantial upside progress in the first two hours, having broken above 1,900 by 02:00 UTC. In the next two hours, the BTC/USD trading pair came down below 1,900. From 04:00 UTC, BTC/USD continued trending sideways within a very limited price range, staying for the most part between 1,880 and 1,900. Story continues With some upside slippage at the open of the 10:00 hourly candlestick, BTC/USD had risen above 1,920 by 11:00 UTC. Between 11:00 and 12:00 UTC, the trading pair made a downside retracement, trading below 1,900 for several minutes but, having closed the hour at 1,900, continued climbing higher until the end of the day, setting multiple historical highs along the way. The trading pair reached the day’s maximum between 21:00 and 22:00 UTC, having risen to 1,950, but came all the way down to 1,920 before the day’s close. Still, ETH/USD was able to close the day near the new all-time high with some very considerable upside progress at 1,936.3 as per the CEX.IO exchange rate. ETH/USD added some 4.83% to its price on 18th February, which is all the more impressive against the backdrop of a negative price day in BTC/USD, which showed -0.94% on the day. Ethereum is apparently largely enjoying the DeFi market growth as most of its protocols use Ethereum smart contracts. Alongside, CME Ethereum futures trading volumes and open interest are growing consistently, showing the rising demand for Etherum from professional investors. The open interest for CME Ether futures had grown more than twofold from 20 million on 9th February to $62 million on 17th February, according to Glassnode. This makes $2,000 a very close target for ETH/USD. And we see 2,342 to be the next target for ETH/USD for the second quarter of 2021. Konstantin Anissimov, Executive Director at CEX.IO This article was originally posted on FX Empire More From FXEMPIRE: USD/JPY Forex Technical Analysis – Watch for Technical Bounce on First Test of 105.347 to 105.317 Gold Price Futures (GC) Technical Analysis – Testing Long-Term Support Zone with $1775.00 Setting the Tone AUD/USD Forex Technical Analysis – Needs to Hold .7820 to Generate Enough Momentum for Move into .7916 NZD/USD Forex Technical Analysis – Strengthens Over .7232, Weakens Under .7206 Stocks Move Higher Despite Rising Bond Yields Crude Oil Price Update – Closing Price Reversal Top Confirmed; $57.31 – $56.91 Next Target Area || Why Are ETF Investors Dumping Bonds?: This article was originally published on ETFTrends.com. Amid growing concerns that the aggressive stimulus policies will fuel a spike in inflation, exchange traded fund investors have been dumping fixed income assets. Bond prices have pulled back while yields climbed on growing concerns over the possibility of higher inflation, which would diminish the real yield of fixed income assets. Fueling concerns, Treasury Secretary Janet Yellen told CNBC that she still believes President Joe Biden’s $1.9 trillion stimulus package is required to put the U.S. economy back to full strength, CNBC reports . “We think it’s very important to have a big package [that] addresses the pain this has caused – 15 million Americans behind on their rent, 24 million adults and 12 million children who don’t have enough to eat, small businesses failing,” Yellen said. Yellen argued for the package despite signs that momentum is building in the first two months of 2021. “Inflation has been very low for over a decade, and you know it’s a risk, but it’s a risk that the Federal Reserve and others have tools to address,” Yellen added. “The greater risk is of scarring the people, having this pandemic take a permanent lifelong toll on their lives and livelihoods.” Furthermore, Biden is also eyeing other fiscal stimulus measures, such as large spending plans on infrastructure and other investments later this year. Meanwhile, the Federal Reserve has said that it is willing to allow inflation to peak above its 2% target after years of running well below this level. As concerns mount, investors have been cutting out of bonds on speculation that central banks would begin to reduce accommodative monetary policies like the infinite bond purchasing plans in a bid to ease inflationary pressures. For more information on the fixed-income market, visit our bond ETFs category . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs Throw Out The Playbook: How to Build A Crypto ETF Stock ETFs Continue to Decline Amid Rising Bond Yields The Mysteries of Volatility and Risk Reinventing Capitalism – The Bitcoin ETF Opportunity Ranking The Historical Returns of Asset Classes READ MORE AT ETFTRENDS.COM > || Zoompass Subsidiary Signs Agreement to Launch InfyDx Crypto Exchange, Receiving $350,000 USD in Implementation Fees and a 50% Revenue Share: TORONTO, ON / ACCESSWIRE / March 4, 2021 / Zoompass Holdings Inc. (OTCQB:ZPAS) ("Zoompass" or "Company") is pleased to announce that its subsidiary, Blockgration Global Corporation has signed a strategic partnership agreement to launch a global crypto currency exchange with Rockwood Digital Assets Inc. ("RDA") that will provide industry leading crypto exchange trading features for their diverse customer base. The partnership's initial focus will be on Business-to-Business (B2B) solutions using our crypto exchange platform ("InfyDx.com" or "InfyDx"), providing a white label solution that will be initially launched in the EU. Integration with our advanced Fiat wallet, prepaid card platform, as well as onboarding and offboarding services utilizing the Company's global KYC and AML services, provides Rockwood Digital Assets a robust, secure, and fully integrated global solution to support RDA's mission of marketing turnkey solutions to its customers. The secondary focus will be in the Business-to-Consumer (B2C) vertical, where InfyDx will provide Rockwood Digital Assets with an enhanced, secure capability to facilitate responsive Bitcoin (BTC) transactions to high-net-worth individuals, corporations, and institutional investors looking to purchase large blocks of BTC in a secure and compliant environment. Under the terms of this agreement, the Company will receive a one-time customization and implementation fee of $350,000 US Dollars and enter into a 50/50 revenue share from the InfyDx exchange with RDA. The InfyDx crypto exchange is currently undergoing in-region testing and security integrations with a target launch for later in 2021. "Our corporate clients need a complete, secure, compliant solution to offer their customers. This agreement marks a significant step forward for Rockwood Digital Assets and our goal of enabling our partners to succeed in the crypto exchange marketplace through a robust suite of technology and services using blockchain in a fully integrated platform", says Timothy Harrington, Director - Rockwood Digital Assets. "This best-in-class crypto exchange leverages the Zoompass blockchain technology platform, and its ecosystem of integrations and relationships, allowing us rapid time-to-market with a full featured and compliant crypto exchange." Story continues "We are happy to welcome Rockwood Digital Assets to our crypto exchange platform and look forward to growing business opportunities between both organizations", says Manny Bettencourt, CEO - Zoompass Holdings Inc. "This deal highlights our unique position in the marketplace as an infrastructure highway for crypto exchanges and blockchain services, delivering leading edge technology, but also a ready to launch network with all the necessary capabilities to enable a fully functional exchange." About Zoompass: Zoompass is a global innovator in the SaaS world, focused on deploying blockchain and digital solutions including exchange solutions utilizing existing and new protocols as well as asset tokenization solutions. The Company continues to buildout its digital payment infrastructure for onboarding and offboarding as well as its next generation web-based technologies and software solutions for both private and public sectors. About Rockwood Digital Assets: Rockwood Digital Assets is a technology solutions and services company with a focus on providing B2C, B2B platforms and services utilizing blockchain technology that delivers digital assets globally. Rockwood Digital Assets also provides compliance solutions and services for AML/KYC. Manny Bettencourt Email: mbettencourt@zoompass.com Website: zoompass.com Tim Harrington Email: info@rockwooddigitalassets.com Zoompass Safe Harbor Statement Certain statements contained within this release are considered to be forward-looking under the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties including, but not limited to, the risk that any projections or guidance, including revenues, margins, earnings, or any other financial results are not realized, the impact of changes in tariffs, adverse changes in the global economic conditions, significant volume reductions from key contract customers, financial stability of key customers and suppliers, and availability or cost of raw materials. Forward-looking statements can often be identified by words such as "anticipates, " "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," similar expression, and variations or negatives of these words. These forward-looking statements are not guaranteeing of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially and adversely from those expressed in any forward-looking statement. Additional cautionary statements regarding other risk factors that could have an effect on the future performance of Zoompass are contained in the Company's Form 10-k filing for the fiscal year ending in December 31, 2020, and other filings with the Securities and Exchange Commission. SOURCE: Zoompass Holdings, Inc. View source version on accesswire.com: https://www.accesswire.com/633394/Zoompass-Subsidiary-Signs-Agreement-to-Launch-InfyDx-Crypto-Exchange-Receiving-350000-USD-in-Implementation-Fees-and-a-50-Revenue-Share || Valdy Investments Ltd. Enters into Definitive Agreement for Proposed Qualifying Transaction with INX Limited: Vancouver, British Columbia--(Newsfile Corp. - March 31, 2021) - Valdy Investments Ltd. (TSXV: VLDY.P) (the "Company" or "Valdy") is pleased to announce that, further to its news release of February 22, 2021, it has entered into a definitive securities exchange agreement (the "Securities Exchange Agreement") dated March 31, 2021 with INX Limited ("INX"), a company incorporated under the laws of Gibraltar, the securityholders of INX (the "INX Securityholders"), and the Co-Lead Agents (as defined below) regarding the Company's previously announced proposed transaction to acquire all of the issued and outstanding securities of INX (the "Transaction"). Upon completion of the Transaction, INX will become a wholly-owned subsidiary of the Company, and the combined entity (the "Resulting Issuer") will continue the business of INX. The Transaction is intended to constitute the "Qualifying Transaction" of the Company as such term is defined in Policy 2.4 - "Capital Pool Companies" (the "Policy") of the TSX Venture Exchange (the "Exchange") Corporate Finance Manual. Concurrent Financing Further to the Company's news release of February 22, 2021, INX expects to complete its previously announced equity financing (the "Concurrent Financing") on April 1, 2021, by way of a private placement of up to 31,680,000 subscription receipts (each, a "Subscription Receipt") at $1.25 per Subscription Receipt for aggregate gross proceeds of up to $39,600,000, with such proceeds being held in escrow, other than 50% of the commission and corporate finance fee payable to the Agents (as defined below). The Concurrent Financing will be comprised of a brokered portion (the "Brokered Concurrent Financing"), pursuant to which up to 22,823,400 Subscription Receipts will be issued, and a non-brokered portion (the "Non-Brokered Concurrent Financing"), pursuant to which up to 8,856,600 Subscription Receipts will be issued. Story continues Immediately prior to the Closing and upon satisfaction of all conditions precedent to the Transaction, each Subscription Receipt will be automatically converted into a unit comprised of one ordinary share in the capital of INX ("INX Shares" and each such INX Share, an "INX Financing Share") and one-half of one common share purchase warrant of INX (each whole warrant, an "INX Financing Warrant"), and the escrowed proceeds of the Concurrent Financing will be released to INX. Each INX Financing Warrant is exercisable into one additional INX Share for two years from closing of the Concurrent Financing at an exercise price of $1.88 per share. Pursuant to the Brokered Concurrent Financing, a syndicate of agents led by PI Financial Corp. and Eight Capital (together, the "Co-Lead Agents"), and including Beacon Securities Limited and Cormark Securities Inc. (together with the Co-Lead Agents, the "Agents") will be paid a cash commission equal to 6% of the gross proceeds of the Concurrent Financing, provided that a commission of 3% will be paid in respect of sales to identified investors agreed upon by INX and the Co-Lead Agents (up to a maximum of $5,000,000 of such sales) (the "President's List Purchasers"). The Agents will also receive compensation options (the "Compensation Options") exercisable into that number of Resulting Issuer shares as is equal to 6% of the total number of Subscription Receipts issued pursuant to the Brokered Concurrent Financing (3% in respect of Subscription Receipts issued to the President's List Purchasers). Each Compensation Option will be exercisable at $1.25 per Resulting Issuer share for up to 24 months following closing of the Transaction. Pursuant to the Non-Brokered Concurrent Financing, the Agents will be paid a corporate finance fee equal to up to $664,245, and 531,396 finance warrants on terms equivalent to the Compensation Options. Terms of the Transaction Prior to the closing of the Transaction (the "Closing"), the Company will consolidate the issued and outstanding Valdy Shares (the "Consolidation") on the basis of one (1) post-Consolidation Valdy Share for every 2.726667 pre-Consolidation Valdy Shares outstanding on a fully-diluted basis (including Finder's Shares (as defined below)) such that immediately prior to the Closing, there shall be outstanding no more than 5,000,000 Valdy Shares on a fully-diluted basis. The Securities Exchange Agreement provides that, on the Closing, the Company will acquire all of the issued and outstanding securities of INX from the INX Securityholders by way of a securities exchange as follows: a) the Company will issue to the former shareholders of INX consideration of an aggregate of 175,000,000 post-Consolidation common shares in the capital of Valdy (each, a "Valdy Share" and each such Valdy Share issued as consideration, a "Valdy Consideration Share") on a partially diluted basis, reflecting the exercise of the INX Legacy Warrants (as defined below). The Valdy Consideration Shares issued to holders of INX Financing Shares shall be issued on a 1:1 basis, and all other Valdy Consideration Shares will be issued on the basis of 10.4871348 Valdy Consideration Shares for each INX Share (the "Conversion Ratio"). b) the holders of outstanding options to purchase INX Shares (each, an "INX Option") shall surrender for cancellation each INX Option held by them, and for each INX Option so surrendered, Valdy shall issue to such holder an option to acquire a post-Consolidation Valdy Share (each, a "Valdy Consideration Option") having terms equivalent to the surrendered INX Option with respect to vesting conditions and expiry date, and adjusted pursuant to the Conversion Ratio in respect of exercise price and the number of Valdy Shares issuable upon exercise thereof; c) the holders of outstanding warrants to purchase INX Shares (each, an "INX Legacy Warrant") shall surrender for cancellation each INX Legacy Warrant held by them, and for each INX Legacy Warrant so surrendered, Valdy shall issue to such holder an warrant to acquire post-Consolidation Valdy Shares (each, a "Valdy Consideration Warrant," and together with the Valdy Consideration Shares and the Valdy Consideration Options, the "Valdy Consideration Securities") having terms equivalent to the surrendered INX Legacy Warrant with respect to expiry date, and adjusted pursuant to the Conversion Ratio in respect of exercise price and the number of Valdy Shares issuable upon exercise thereof; and d) each of the warrants to purchase INX Shares issued pursuant to the Concurrent Financing (each, an "INX Financing Warrant") shall, in accordance with its terms, become exercisable to purchase an equivalent number of post-Consolidation Valdy Shares at the same exercise price as the INX Shares to which such warrant was previously exercisable for, and such INX Financing Warrant shall otherwise continue to be governed in accordance with its terms. With respect to the issuance of the Valdy Consideration Securities to the INX Securityholders, the Company intends to rely on Section 2.16 of National Instrument 45-106 - Prospectus Exemptions for an exemption from the prospectus requirements under applicable securities laws. In connection with the Transaction, the Company will change its name to The INX Digital Company Inc. (the "Name Change"), or such other name as is determined by INX. The completion of the Transaction is subject to the satisfaction of various conditions as are standard for a transaction of this nature, including but not limited to: a) the Securities Exchange Agreement shall not have been terminated; b) there will not be in force any order or decree restraining or enjoining the consummation of the Transaction, or any proceeding in progress or threatened, which would, if successful, result in such an order; c) all required regulatory and third party approvals will have been received, including the conditional approval of the Exchange for the Transaction; d) the Valdy Consideration Shares and the Valdy Consideration Warrants being freely tradeable pursuant to applicable securities laws; e) the Company shall have completed the Consolidation and the Name Change; f) the Concurrent Financing shall have been completed; g) the Company shall have a minimum of $800,000 in cash, and no liabilities other than those incurred in connection with the Transaction; h) INX not being subject to any debt obligations; i) INX shall have no more than 175,000,000 INX Shares issued and outstanding on a fully-diluted basis, which amount shall include INX Shares issuable pursuant to any convertible securities, but excluding any commitments on INX pursuant to its employee stock option plan and any shares issuable pursuant to the Concurrent Financing; j) completion of all matters, and the satisfaction of all conditions (unless waived in writing), under the Securities Exchange Agreement required to be completed or satisfied on or before the Closing; k) the receipt of a favourable tax ruling from Israeli tax authorities; l) the shareholders of Valdy shall have approved, and Valdy shall have adopted, an updated stock option plan; m) the securityholders of INX shall have approved the Transaction, and matters ancillary thereto; and n) no material adverse effect having occurred in respect of the Company or INX. On Closing, the Resulting Issuer expects to enter into five year advisory agreements (each, an "Advisory Agreement") with James Decker and Johnny Ciampi (each, an "Advisor"). Each Advisory Agreement will provide for the issuance of 1,000,000 immediately vesting options to purchase shares of the Resulting Issuer (each, an "Advisor Option") under the Resulting Issuer's stock option plan to the applicable Advisor, with 500,000 Advisor Options being exercisable at a price of $1.25 per share and 500,000 Advisor Options being exercisable at a price of $2.50 per share, and all Advisor Options expiring on the date that is five years from the Closing. Upon Closing, the Resulting Issuer expects to have approximately 19,750,441 options outstanding to purchase common shares ("Resulting Issuer Options") to eligible persons under the Resulting Issuer's stock option plan. The Resulting Issuer expects to have approximately 5,721,885 additional Resulting Issuer Options available for issuance following Closing. In connection with the Transaction, the Company has entered into a finder's fee agreement with Peter Hough, pursuant to which the Company has agreed to issue 650,000 Valdy Shares (approximately 258,357 Valdy Shares on a post-Consolidation basis) (the "Finder's Shares") to Mr. Hough on Closing as compensation for services provided, subject to the approval of the Exchange. Following Closing, it is expected that the Resulting Issuer will have approximately the following securities outstanding: Class of Securities (Source) Undiluted Issued and Outstanding Fully-Diluted Issued and Outstanding Valdy Shares (Former Valdy Security holders) 4,248,165 2.2% 4,248,165 1.7% Valdy Options (Former Valdy Security holders) 421,760 0.2% 421,760 0.2% Valdy Agent's Options (Former Valdy Security holders) 91,687 0.04% 91,687 0.03% Finder's Shares (Finder's Fee Agreement) 238,386 0.1% 238,386 0.1% Valdy Consideration Shares (Former INX Shareholders) 159,923,423 81.3% 159,923,423 64.2% Valdy Consideration Shares (Concurrent Financing) 31,680,000 16.1% 31,680,000 12.7% Valdy Consideration Options (INX Options) Nil Nil 17,750,441 7.1% Valdy Consideration Warrants - (INX Legacy Warrants) Nil Nil 15,076,577 6.1% INX Warrants (Concurrent Financing) Nil Nil 15,840,000 6.4% Agent's Warrants (Concurrent Financing) Nil Nil 1,900,800 [1] 0.8% Advisor Options (Advisory Agreements) Nil Nil 2,000,000 0.8% Total: 196,603,421 100% 249,171,239 100% About INX INX, founded in 2017, is based out of Gibraltar and has an office in Israel. To date, INX's operations have focused on developing blockchain-based platforms for trading digital securities and cryptocurrencies available to both institutional and retail investors in accordance with applicable regulatory requirements. INX launched the world's first SEC registered security token IPO aimed at establishing a revolutionary, fully regulated financial trading market and becoming a prime trading and listing arena for digital assets. The Resulting Issuer, through INX, plans to bring to market a trading and listing arena for digital assets with an experienced team with demonstrated success in the industry. The INX management team and board of directors is comprised of traditional capital market veterans and blockchain experts. INX has recently entered into a definitive agreement to acquire Open Finance Securities LLC, a registered U.S broker-dealer with an alternative trading system. The following table provides select financial information for INX: Year ended December 31, 2020 (audited) Year ended December 31, 2019 (audited) Year ended December 31, 2018 (audited) (thousands of USD$) Total Revenue nil nil nil Total Assets 8,085 387 1,021 Total Liabilities 29,831 1,933 967 Net Income (Loss) (24,331) (3,689) (4,010) Additional financial information with respect to INX will be provided in the filing statement to be filed with the Exchange in connection with the Transaction. Board of Directors, Management and Insiders In connection with the Transaction, it is expected that James Decker, Johnny Ciampi, Jonathan McNair and Neil Currie will resign as a directors of the Company, and James Decker and Johnny Ciampi will resign as Chief Executive Officer and Chief Financial Officer of the Company, respectively. The board of directors of the Resulting Issuer is expected to initially consist of eight directors, with seven nominees from INX and one nominee from the Company. The initial directors are expected to be Alan Silbert, James Crossley, David Weild, Nicholas Thadaney, Haim Ashar, Thomas Lewis, Rafael Rafaeli and a nominee from the Company that is acceptable to INX, acting reasonably. Executive management of the Resulting Issuer is expected to include Shy Datika as President, Oran Mordechai as Chief Financial Officer, Itai Avneri as Chief Operating Officer, Emiliano Rios Caban as Chief Compliance Officer, Douglas Borthwick as Chief Marketing and Business Development Officer, Paz Diamant as Chief Technology Officer, Maia Naor and Vice President - Product and Jonathan Azeroual as Vice President - Blockchain Asset Strategy. Following Closing, it is expected that Shy Datika, and no other shareholder, will beneficially own or control more than 10% of the outstanding common shares of the Resulting Issuer. Additional information about the currently known proposed directors and officers of the Resulting Issuer is provided below, and further information will be provided in the filing statement to be filed with the Exchange in connection with the Transaction. Alan Silbert - Director Mr. Alan Silbert is a director of INX and its Executive Managing Director. He joined INX in March 2018. Mr. Silbert is responsible for launching INX Services operations in North America, including facilitating the build-out of the director and advisor team, raising capital, growing operations and infrastructure for North American operations and leading the registration processes for broker-dealer and alternative trading system licenses. From December 2015 until March 2018, he was Senior Vice President at Capital One Commercial Banking, serving on the Asset Based Lending and Life Science Finance/Venture Debt teams. Prior to that, he was Vice President - Life Science Finance at GE Capital. From February 2013 until October 2017, he served as founder and Chief Executive Officer of BitPremier LLC, a bitcoin luxury marketplace. Mr. Silbert received his BS in Business Administration with a concentration in Finance from Towson University. James Crossley - Director Mr. James Crossley is a director of INX and heads INX's European business and corporate development efforts. From October 2015 to December 2018, James was a Director of the Flo Live group, a provider of global cloud-based Internet-of-Things ecosystems. From March 2016 to May 2017, he acted as Director and CFO of Flocash Limited, a technology based international money transfer gateway. From February 2013 to December 2016 he worked with Extech, Ascarii and Intalec, marketing ERP Solutions including SAP Business One Cloud and Infor. Prior to February 2013, he had been Director of Corporate Development for Titan GS Europe, a global SAP Partner, having previously sold his own successful SAP Partnership to Titan in February 2009. Before moving into technology James, spent 25 years at C Level in the advertising industry including CFO, CEO and Group CFO roles for regional and global ad agencies. David Weild - Director Mr. David Weild is an independent director of INX. Mr. Weild is founder, chairman and CEO of Weild & Co., Inc., parent company of the investment banking firm Weild Capital, LLC. Prior to Weild & Co., Mr. Weild was vice chairman of NASDAQ, president of PrudentialFinancial.com and head of corporate finance and equity capital markets at Prudential Securities, Inc. Mr. Weild holds an M.B.A. from the Stern School of Business and a B.A. from Wesleyan University. Mr. Weild is currently on the boards of BioSig Technologies, Inc. and PAVmed Inc. From September 2010 to June 2011, Mr. Weild served on the board of Helium.com, until it was acquired by R.R. Donnelly & Sons Co. Since 2003, Mr. Weild was a director and then chairman of the board of the 9-11 charity Tuesday's Children. He became chairman emeritus in October 2016 and still serves on the board. Mr. Weild brings extensive financial, economic, stock exchange, capital markets, and small company expertise to the company gained throughout his career on Wall Street. He is a recognized expert in capital markets and has spoken at the White House, Congress, the SEC, OECD and the G-20 on how market structure can be bettered to improve capital formation and economic growth. Nicholas Thadaney - Director Mr. Nicholas (Nick) Thadaney is an independent director of INX. Mr. Thadaney was President and Chief Executive Officer, Global Equity Capital Markets, and a member of the senior management team of TMX Group until February 2018. In his roles with TMX Group, Mr. Thadaney was responsible for all equity listing and trading activity across the company's equities markets and alternative trading systems, including Toronto Stock Exchange, TSX Venture Exchange, Alpha, TMX Select, TSX Private Markets and TSX Trust. Prior to joining TMX Group in September 2015, Mr. Thadaney was Chief Executive Officer of ITG Canada Corp. since 2005, with responsibility for managing all aspects of the business, as well as a Member of ITG's Global Executive Committee. Previously, he was Director of Sales and Trading of ITG Canada's Institutional Equities business from 2000 to 2005. Before his tenure at ITG, Mr. Thadaney was Vice-President, Business Development (Equities) at C.T. Securities Inc., which was later acquired by T.D. Securities Inc. in 1999. He has also been a member of several industry associations, boards and registered charities, including: Asset Management Industry Hold'em for Life Charity, Mount Sinai, Co-Chair; Bermuda Stock Exchange; Canadian Council of the Americas; CanDeal; IIROC; Toronto Financial Service Alliance; Investment Industry Association of Canada; Junior Achievement Canada; Young Presidents Association (Ontario Chapter); and the World Federation of Exchanges SME Advisory Board. Haim Ashar - Director Mr. Haim Ashar is an independent director of INX. Mr. Ashar is an independent business consultant providing integrated business development for startups and mid-size companies. He represents multiple companies in Europe across several sectors, helping them to build market-driven products and technology. From June 2017 to June 2018, Mr. Ashar served as Interim Manager - Change Management at We call4U UG, Berlin with responsibilities for marketing, brand, public relations and partnerships. From April 2014 to March 2017, Mr. Ashar served as Head of Business Development at Wayra Germany, Telefonica's startup accelerator, with responsibilities for venture relations, brand development, scouting and outsourcing innovation for corporate business units. From May 2010 to December 2013, Mr. Ashar served as Operational CEO at ecosiv GmbH, a manufacturer of innovative radiant heating applications. Mr. Ashar earned his BSCE from Tel Aviv University in Israel. Thomas Lewis - Director Mr. Thomas K. Lewis, Jr. is an independent director of INX. Mr. Lewis is currently the Founder of Noble 4 Advisors, LLC, a company he founded in September 2012 that develops and provides methodologies, technologies and guidance that assist boards, CEOs, investors and senior executives in defining and implementing plans to improve operating performance. Mr. Lewis has served as CEO of four companies, including The Green Exchange, a federally regulated futures and options exchange in New York and London, from September 2009 to July 2012; Automated Power Exchange Inc. (APX), a venture-backed wholesale power markets and renewable energy services provider, from August 2003 to October 2007; Ameritrade, an online retail broker, from February 1999 to August 2000; and Campus Pipeline, an educational software company. Prior to that, Mr. Lewis served in technology leadership positions with American Express, Credit Suisse First Boston, USF&G Insurance and Marriott Corporation. Mr. Lewis has served on the boards of The New York Ledger Exchange, aka LedgerX (from 2014 to 2017), Green Exchange Holdings, LLC (2009 to 2012), Evolution Markets, Inc. (2007 to 2009), Automated Power Exchange Inc. (2003 to 2007) and Neovest Holdings, Inc. (2001 to 2004). Mr. Lewis holds an honorary doctorate, a master's degree in computer and information science, and a bachelor's degree, magna cum laude, in business administration from the University of New Haven in Connecticut, where he was honored as a distinguished alumnus. He served as chairman of the Board of Trustees of the Henry Lee Institute of Forensic Science, and served for twelve years as a member of the Board of Trustees of the University of New Haven. He has also served as a member of the Advisory Board of the Johns Hopkins Carey Business School at Johns Hopkins University. Mr. Lewis served as Executive in Residence and Assistant Professor at Johns Hopkins University, Carey Business School. Mr. Lewis also served as the head of technology for the Executive Office of the President of the United States during the Ronald Reagan Administration. Rafael Rafaeli - Director Mr. Rafael Rafaeli is a director of INX. Mr. Rafaeli is Partner and CEO of the Rafaeli Group, an international companies group engaging in large scale real estate projects in the Far East, Europe and Israel. From 2002 to 2008, Mr. Rafaeli acted as the CEO of Maxbet International, an international gaming cooperation founded by Mr. Rafaeli. Mr. Rafaeli is the son of Mr. Yitshak Rafaeli, a shareholder of INX who holds more than 10% of the issued and outstanding share capital of INX. Mr. Rafaeli was appointed as a director of INX upon the nomination of Mr. Yitshak Rafaeli, pursuant to the terms of our Articles of Association of INX. Shy Datika - President Mr. Shy Datika is one of the founders of INX and is INX's President. Mr. Datika has more than 25 years of experience in the banking and finance industry. As founder and former Chief Executive Officer of ILS Brokers, a multinational brokerage house based in Tel-Aviv, Israel, Mr. Datika has a significant role in the adoption of electronic trading in the global OTC foreign exchange (OTC Forex) market as well as in the brokerage activity and online trading business. During the last 20 years, Mr. Datika has been extensively involved in financial technology ("fin-tech") as an investor, director or manager of several companies, including as CEO of ForexManage Ltd., a software company providing professional technology platform solutions for institutional risk management and trading activities in the forex and interest rate derivatives markets for the banking industry, anyoption, Ouroboros Ltd. (CySec licenced CIF) and as an independent (external) director and the Chairman of the Investment Committee and member of the Audit Committee of Altshuler Shaham provident funds and Pension Ltd. Prior to that, he was a senior dealer in Bank Hapoalim heading the G7 spot desk. Mr. Datika possesses broad knowledge in the areas of fin-tech and trading and has an extensive track record in building sustainable businesses in the financial market. Mr. Datika serves as a director on the board of numerous private companies. Oran Mordechai - Chief Financial Officer Mr. Oran Mordechai is INX's Chief Financial Officer. Prior to joining INX in December 2017, Mr. Mordechai worked at Ernst & Young Israel for 13 years in several positions. Mr. Mordechai's last role was as senior manager in the high-tech practice, leading and managing diverse client accounts, including start-ups through exits, domestic, multinational and publicly traded companies. Mr. Mordechai's business experience includes corporate finance, international corporate tax, mergers and acquisitions and initial public offerings. Mr. Mordechai holds a BA in Economics, Management and Accounting from the College of Management and a MBA of Business Administration Finance and Financial Management Services from Tel-Aviv University and is a Certified Public Accountant. Mr. Mordechai is also the founder of Insight Finance, through which he provides financial services to his clients, including INX. Itai Avneri - Chief Operating Officer Mr. Itai Avneri is INX's Chief Operating Officer and brings over 20 years of executive management experience into this role. His commercial work spans a variety of technology companies, including from June 2015 to June 2017, COO of anyoption, from June 2017 to July 2018, CEO of invest.com in Israel, where he spearheaded the shift to cryptocurrency and former Playtech Group-CMO and CEO of the Israel office. Since 2018 Mr. Avneri has on the advisory boards of various enterprises including Peality Races, Layer11, Groupiez and BeexOS. Mr. Avneri has led the launch of multiple financial services and products in Europe and South Africa among other regulated jurisdictions. He designed and built advanced information systems with specializations in trading, BI & CRM solutions, marketing and KYC automation as well as payments and integration hubs. His in-depth knowledge and hands-on experience on all aspects of online business (B2B & B2C), marketing, technology and finance will play a key role at INX Limited. Emiliano Rios Caban - Chief Compliance Officer Mr. Emiliano "Jon" Rios is Chief Compliance Officer of INX and has almost 17 years of leadership and compliance experience across multiple segments of the financial services industry, from traditional banking and wealth management to FinTech startups. From August 2019 through September 2020, Mr. Rios served as Director of Compliance and then Chief Compliance Officer at M1 Finance. His experience also includes from May 2018 through July 2019, acting as Director of Compliance at Anchorage, the premier digital asset custodian for institutions and, from January 2017 to May 2018, Compliance Manager at Wealthfront, the top robo-advisor and financial planning service. He previously held investment compliance and supervision roles at Charles Schwab, BMO Harris, and Ziegler. As a member of the executive team, Rios will lead compliance efforts throughout the organization, including establishing policies and procedures, supervision structures, operations and controls, regulatory relationships, and risk management. Douglas Borthwick - Chief Marketing and Business Development Officer Mr. Douglas Borthwick is Chief Marketing and Business Development Officer of INX. Mr. Borthwick has over 25 years of experience in the finance industry, most recently founding and building the Chapdelaine FX electronic and voice trading business for inter-dealer broker TP-ICAP from 2012 to September 2018. Mr. Borthwick held various roles with Morgan Stanley from 1996 through 2005; managing foreign exchange derivatives trading groups in New York and London, with a strong focus on emerging markets. He then ran the strategic trading desk at Merrill Lynch from 2005 to 2006, and the Latin American FX trading business at Standard Chartered from 2006 to 2009. In 2010, Mr. Borthwick managed trading and research areas for startup foreign exchange agency, Faros Trading, a company that was later sold to FXCM in 2013. Mr. Borthwick holds a bachelors of science in Economics from Carnegie Mellon University and an MBA from Yale University's School of Management. Paz Diamant - Chief Technology Officer Mr. Paz Diamant is INX's Chief Technology Officer. Mr. Diamant has more than 25 years of experience in the banking and financial technology industry. From November 2013 to January 2020, Mr. Diamant held several roles at eToro, a worldwide leading social investment network, where he was most recently Managing Director of R&D and Product. In that role he directed the design, development, and deployment of the company's cloud-based exchange system, and was responsible for the development of eToro's complicated hedging algorithms. While at eToro, Mr. Diamant managed R&D teams for several years while implementing cutting-edge, cloud-based technologies successfully. From October 2002 to January 2011, Mr. Diamant was the founder and Chief Executive Officer of ForexManage Ltd., a leading provider of advanced, real-time, risk management and foreign exchange online trading technologies for the banking industry. Through his role at ForexManage, Mr. Diamant had a significant role in the adoption of advanced risk management models in major European banks and brokerage houses. Mr. Diamant holds a BS in Physics from the Technion - Israel Institute of Technology, where he graduated cum laude, and a MBA, Finance from Bar-Ilan University. Maia Naor - VP Product Ms. Maia Naor is INX's Vice President, Product and has been with INX since its founding. Ms. Naor has ten years of fin-tech experience working for companies across Europe and Israel. From 2010 until July 2017, Ms. Naor served as Vice President - Product in Anyoption Ltd., a leading European regulated trading group where she oversaw the planning, implementation and launch of several financial services and computer-internet-based and cellular-based trading applications. Ms. Naor also gained experience in building and training teams of data scientists that supported the growth and optimization of the trading products. Ms. Naor is a graduate of the Tel Aviv University School of Economics and the Tel Aviv University School of Mathematical Sciences, with honors. Jonathan Azeroual - VP Blockchain Asset Strategy Mr. Jonathan Azeroual is INX's Vice President, Blockchain Asset Strategy and has been with INX since its founding. Mr. Azeroual has over 9 years of broad financial experience working for banks, hedge funds, brokerage firms in various analytical, operational or executive positions in Paris', New York's, and London's financial markets. He is the co-founder and, from July 2015 until December 2017, served as Chief Executive Officer of Bsave Ltd., a UK company which operates a Bitcoin savings platform. He also currently works for Redwood Digital Fund as a member of their Trading & Investment Services team. From June 2016 to February 2017, he was a member of the Trading & Investment Services group at Hadas Capital. Between October 2014 and October 2015 he was an algorithmic trader for Colley Cooper Capital. Prior to that, starting in 2012 until October 2014, he served as an institutional sales trader for Sunrise Brokers. He graduated with honors and holds a postgraduate degree in Financial and Statistical Engineering from Paris-Dauphine University and holds ESCP Europe Advanced Master in Finance. About Valdy Valdy is a capital pool company which was incorporated on August 22, 2018 under the BCBCA and is a reporting issuer in the provinces of British Columbia and Alberta. Additional Information Sponsorship of a Qualifying Transaction of a capital pool company is required by the Exchange unless an exemption or waiver from the sponsorship requirement is available. The Company has applied for an exemption from the sponsorship requirements pursuant to the Policy on the basis that: (a) a Transaction Disclosure Form (Form 2I) will be filed, (b) more than $500,000 will be raised pursuant to the brokered Concurrent Financing, for which PI Financial and Eight Capital will be significantly involved, and (c) a Filing Statement (Form 3B2) will be prepared and filed in connection with the Transaction. There is no assurance that such an exemption will be granted by the Exchange. Trading in the Valdy Shares is presently halted in accordance with the policies of the Exchange. It is uncertain whether trading will resume before the Transaction is completed and approved by the Exchange. Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and those set out above under the heading "Conditions to Closing" and, if applicable, pursuant to the requirements of the Exchange, shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the filing statement or management information circular to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative. The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release. Neither the Exchange nor its Regulation Service Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. Not for distribution to United States newswire services or for dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available For further information please contact: Johnny Ciampi CFO, Valdy Investments Ltd. 604-685-0201 Douglas Borthwick CMO, INX Limited This press release contains "forward-looking information" within the meaning of applicable securities laws relating to the proposal to complete the Transaction, the Concurrent Financing, and associated transactions, including statements regarding the terms and conditions of the Transaction, the Concurrent Financing, and the Resulting Issuer. Forward-looking information consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks that the parties will not proceed with the Transaction, the Concurrent Financing and associated transactions, that the ultimate terms of the Transaction, the Securities Exchange Agreement, the Concurrent Financing, and associated transactions will differ from those that currently are contemplated, and that the Transaction, the Agreement, the Concurrent Financing and associated transactions will not be successfully completed for any reason (including the failure to obtain the required approvals or clearances from regulatory authorities). In developing the forward-looking information contained herein, the Company has made assumptions with respect to, among other things, the ability of the parties to satisfy the conditions to the Transaction, including the receipt of third party consents and regulatory approvals, as well as other factors believed to be relevant. Although the Company believes that the assumptions made and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information contained herein will prove to be accurate. Readers are 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. Factors that could cause the actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, and general economic, market or business conditions. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The statements in this press release are made as of the date of this release. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, INX, their securities, or their respective financial or operating results. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information. [1] Assumes no purchases under the President's List. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/79072
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 59893.45, 63503.46, 63109.70, 63314.01, 61572.79, 60683.82, 56216.18, 55724.27, 56473.03, 53906.09
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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 2017-01-18]
BTC Price: 886.62, BTC RSI: 50.69
Gold Price: 1211.30, Gold RSI: 66.32
Oil Price: 51.08, Oil RSI: 45.96
[Random Sample of News (last 60 days)]
Bitcoin slides as China's central bank launches checks on exchanges: By John Ruwitch and Jemima Kelly
SHANGHAI/LONDON (Reuters) - China's central bank launched spot checks on leading bitcoin exchanges in Beijing and Shanghai, ratcheting up pressure on potential capital outflows and knocking the price of the cryptocurrency down more than 12 percent against the dollar.
The People's Bank of China (PBOC) said its probe of bitcoin exchanges BTCC, Huobi and OKCoin was to look into a range of possible rule violations, including market manipulation, money laundering and unauthorized financing. It did not say if any violations had been found.
Chinese authorities have stepped up efforts to stem capital outflows and relieve pressure on the yuan.
While the yuan lost more than 6.5 percent against the dollar last year, its worst performance since 1994, the bitcoin price has soared to near-record highs.
That, and the relative anonymity the digital currency affords, has prompted some to believe bitcoin has become an attractive option for tech-savvy Chinese to hedge against the yuan and skirt around rules limiting how much foreign exchange individuals can buy each year.
The PBOC in Beijing, where officers visited the offices of OKCoin and Huobi on Wednesday, said in a statement that "spot checks were focused on how the exchanges implement policies including forex management and anti-money laundering".
Separately in Shanghai, the PBOC said it visited BTCC, noting its checks "focused on whether the firm was operating out of its business scope, whether it was launching unauthorized financing, payment, forex business or other related businesses, whether it was involved in market manipulation, anti-money laundering or (carried) fund security risks."
On the Europe-based Bitstamp exchange, the price of bitcoin (BTC=BTSP) fell as much as 12.5 percent to a 3-week low of $800.
On China's Huobi exchange, the price slid more than 16 percent to 5,313 yuan (CNY=CFXS), equivalent to around $766, putting the yuan/bitcoin rate at a discount to the rate on dollar-based exchanges.
Normally, bitcoin trades at a premium in China, with a lack of trading fees encouraging volumes and boosting demand.
"Selling is being driven by China. The fear is that ... this investigation could lead to, worse-case scenario, funds being withheld from them (Chinese investors) or one of the exchanges being found to have acted improperly," said Charles Hayter, CEO of digital currency analytics firm Cryptocompare.
"This is a ratcheting up of the rhetoric from the Chinese authorities - instead of 'we're watching' you, it's now 'we're investigating' you," he said.
According to his analysis, Hayter says trading between the yuan and bitcoin accounted for around 98 percent of the total market in the past six months.
"The long term implications of this are positive as more rigor in the Chinese market only matures and brings respectability to the industry - but in the short term this could effect volumes which have been one of the key drivers of the recent rally," Hayter added.
"FRUITFUL MEETING"
Bobby Lee, CEO of Shanghai-based BTCC, confirmed the PBOC visit, but said he believed the company was not out of line.
"We're definitely vigilant. We think we are in compliance with all the current rules and regulations of running a bitcoin exchange in China," he told Reuters by phone.
"I wouldn't call it an investigation. I think they are working closely with us to learn more about our business model and the bitcoin exchange industry. We had a very fruitful meeting today," Lee said.
A Huobi executive, who declined to be named, confirmed the PBOC visited its office on Wednesday, but declined to provide details. A spokeswoman for OKCoin told Reuters its platform was operating normally, and the exchange was working with the authorities.
Last week, PBOC officials met with the three exchanges, and the central bank publicly urged investors to take a rational and cautious approach to investing in bitcoin.
(Additional reporting by Winni Zhou, Brenda Goh and Samuel Shen; Editing by Ian Geoghegan) || Award Winning Flow Lend Issues Over US$1M in Mobile Credit in Less than Six Months: MIAMI, FL--(Marketwired - Dec 20, 2016) - Flow has been keeping its prepaid mobile customers connected with its cashless mobile top-up app, Flow Lend , which advanced more than US$1Million in less than six months in mobile credit -- and, in partnership with JUVO , won the Mondato Innovation Award for Digital Finance and Commerce (DFC) earlier this month. James McElvanna, VP Products, Cable and Wireless , operator of Flow said, "We are proud to have partnered with JUVO to develop an app that addresses the needs of our customers, which in this case is anytime, anywhere access. Since many of our prepaid customers don't use credit cards, and usually rely on in-store cash top ups, Flow Lend gives them the assurance that they can always stay connected, even when they are out of cash and can't make it to a top-up station. We're happy to provide this convenient option to our customers, and we're honoured to be recognized for our efforts and investment in technology that has transformed our customers' experience." Steve Polsky, Founder and CEO of JUVO said, "C&W is a true partner and we are thrilled to be working with their team to offer Flow customers real time access to credit to help them stay connected. Receiving the Mondato Innovation Award, along with the high volume of credit advances issued via Flow Lend, reaffirms the real need for this solution -- and we're excited to provide the Identity Scoring technology that powers it." All prepaid mobile customers who top up regularly are eligible for credit advance from Flow Lend. The app tracks the frequency of top ups and other usage patterns to determine which customers have met the requirements for an advance. Once approved, customers can use Flow Lend to request instant, interest-free credit when they're running low. The loan amount must be repaid within 30 days via any regular Flow top up method. By consistently paying back on time, they can gradually borrow more and never have to worry about running out of credit. Story continues "We are addressing a real need for many of our customers who may have little or no credit and may be caught in a situation where they desperately need to be in contact," said McElvanna, highlighting the app's benefits. "For example, the mother who needs to call the doctor's office to make an appointment for her sick child no longer has to wait until she has the cash to go buy credit; the teenager who's nearing a low balance late at night doesn't have to leave the comfort and security of his/her home to visit a top up centre. Regardless of the circumstance, Flow Lend is available to our customers, anytime, anywhere." Flow Lend is available in all Flow's mobile markets across the region for both Android and iOS smartphones. EDITORS NOTE: About Mondato Innovation Award for Digital Finance and Commerce (DFC) The Mondato Awards were created to recognize excellence and innovation in Digital Finance and Commerce (MFC) and Digital Finance Plus (DF+) . The winners represent some of the most innovative DFC and DF+ solutions from emerging startups, as well as established companies paving new paths in the industry. C&W Communications in partnership with Juvo received the 2016 award. Juvo was founded with an overarching vision: to establish financial identities for the billions of people worldwide who are creditworthy, yet financially excluded. In partnership with mobile network operators, Juvo's proprietary Identity Scoring technology uses data science, machine learning and game mechanics to create an identity-based relationship with anonymous prepaid users, opening up access to otherwise unattainable mobile financial services. Juvo is a privately held company backed by global business leaders and luminaries in the world of tech, mobile and finance. Its executive team comprises accomplished industry leaders across the data science, consumer internet, financial services and mobile telecom fields. Headquartered in San Francisco, with offices in Miami, London, Buenos Aires, Manila, Jakarta and Hanoi, Juvo has a reach of over 100 million subscribers across four continents and is deployed in 23 countries. For more information, follow us on Twitter or LinkedIn , or find us at www.juvo.com All trademarks contained herein are the property of their respective owners. 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 ) 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 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=3093327 Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3093322 Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3093330 || Bitcoin slides as China's central bank launches checks on exchanges: * Graphic on bitcoin and yuan: http://tmsnrt.rs/2jsDIt9 * PBOC checks focus on exchanges' operations; possible violations * Platforms say in compliance, working with authorities * Bitcoin price falls to 3-week low, below $800 (Adds comments, background, graphic, updates prices) By John Ruwitch and Jemima Kelly SHANGHAI/LONDON, Jan 11 (Reuters) - China's central bank launched spot checks on leading bitcoin exchanges in Beijing and Shanghai, ratcheting up pressure on potential capital outflows and knocking the price of the cryptocurrency down more than 12 percent against the dollar. The People's Bank of China (PBOC) said its probe of bitcoin exchanges BTCC, Huobi and OKCoin was to look into a range of possible rule violations, including market manipulation, money laundering and unauthorised financing. It did not say if any violations had been found. Chinese authorities have stepped up efforts to stem capital outflows and relieve pressure on the yuan. While the yuan lost more than 6.5 percent against the dollar last year, its worst performance since 1994, the bitcoin price has soared to near-record highs. That, and the relative anonymity the digital currency affords, has prompted some to believe bitcoin has become an attractive option for tech-savvy Chinese to hedge against the yuan and skirt around rules limiting how much foreign exchange individuals can buy each year. The PBOC in Beijing, where officers visited the offices of OKCoin and Huobi on Wednesday, said in a statement that "spot checks were focused on how the exchanges implement policies including forex management and anti-money laundering". Separately in Shanghai, the PBOC said it visited BTCC, noting its checks "focused on whether the firm was operating out of its business scope, whether it was launching unauthorised financing, payment, forex business or other related businesses, whether it was involved in market manipulation, anti-money laundering or (carried) fund security risks." Story continues On the Europe-based Bitstamp exchange, the price of bitcoin fell as much as 12.5 percent to a 3-week low of $800. On China's Huobi exchange, the price slid more than 16 percent to 5,313 yuan, equivalent to around $766, putting the yuan/bitcoin rate at a discount to the rate on dollar-based exchanges. Normally, bitcoin trades at a premium in China, with a lack of trading fees encouraging volumes and boosting demand. "Selling is being driven by China. The fear is that ... this investigation could lead to, worse-case scenario, funds being withheld from them (Chinese investors) or one of the exchanges being found to have acted improperly," said Charles Hayter, CEO of digital currency analytics firm Cryptocompare. "This is a ratcheting up of the rhetoric from the Chinese authorities - instead of 'we're watching' you, it's now 'we're investigating' you," he said. According to his analysis, Hayter says trading between the yuan and bitcoin accounted for around 98 percent of the total market in the past six months. "The long term implications of this are positive as more rigour in the Chinese market only matures and brings respectability to the industry - but in the short term this could effect volumes which have been one of the key drivers of the recent rally," Hayter added. "FRUITFUL MEETING" Bobby Lee, CEO of Shanghai-based BTCC, confirmed the PBOC visit, but said he believed the company was not out of line. "We're definitely vigilant. We think we are in compliance with all the current rules and regulations of running a bitcoin exchange in China," he told Reuters by phone. "I wouldn't call it an investigation. I think they are working closely with us to learn more about our business model and the bitcoin exchange industry. We had a very fruitful meeting today," Lee said. A Huobi executive, who declined to be named, confirmed the PBOC visited its office on Wednesday, but declined to provide details. A spokeswoman for OKCoin told Reuters its platform was operating normally, and the exchange was working with the authorities. Last week, PBOC officials met with the three exchanges, and the central bank publicly urged investors to take a rational and cautious approach to investing in bitcoin. ($1 = 6.9317 Chinese yuan renminbi) (Additional reporting by Winni Zhou, Brenda Goh and Samuel Shen; Editing by Ian Geoghegan) || Bitcoin falls 10% as China plans to investigate exchanges: The price of bitcoin(Exchange: BTC=-USS)fell by around 10 percent after Chinese authorities announced plans to inspect bitcoin enterprises.
The People's Bank of China published an announcement this morning that it will carry out site inspections on January 17 to check whether enterprises dealing in bitcoin have the correct licenses, have implemented anti-money laundering systems and whether there is market manipulation.
Following the announcement, the digital currency fell from around $915 to as low as $784.56. Bitcoin is currently hovering around the $806 mark.
Chinese investors dominate the global bitcoin volume trade. For some time, Chinese regulators have been concerned about bitcoin and whether it is having a negative effect on the renminbi(Unknown: CNY00H=).
Last week, the People's Bank of China met with three of the country's largest bitcoin exchanges to talk about market regulations.
Charles Hayter, chief executive and founder of digital currency comparison website CryptoCompare, said today's announcement was a "ratcheting of the rhetoric" from the Chinese authorities.
"Instead of 'we're watching' you it's now 'we're investigating' you," he told CNBC.
"The intentions of the Chinese state are clearer and it looks like they're trying to bring the Chinese bitcoin exchanges to heel - whether they are looking to make an example is yet to be seen."
Hayter added that the move may have positive impacts in the long term, as it may bring more respectability to the industry as it matures.
"But in the short term this could affect volumes which have been one of the key drivers of the recent rally."
Bitcoin had been steadily rallying through 2016 and appreciated to more than $1,100 on January 5th, near to its record high,but the digital currency subsequently crashed,dropping back to the $900 level.
Follow CNBC International onTwitterandFacebook. || Bitcoin is fighting back: Bitcoin has recouped a good portion of its early losses. The cryptocurrency trades down 2.8%, or almost $26, at $880 a coin as of 11:05 a.m. ET. That's a notable recovery from the drop less than $853 that occurred early in US trade. Bitcoin raced above $915 late Tuesday night but struggle to take out resistance in the $880/$920 area.
The cryptocurrency has had avolatilestart to the year after gaining 120% in 2016, making it theworld's top performing currencyfor a second straight year. It raced to a gain of more than 20% in the opening days of 2017 before rumblings that China was going tocrackdownon trading began to surface.
Then, nearly a week later, China announcedit had beguninvestigating bitcoin exchangesin Beijing and Shanghai on suspicion of market manipulation, money laundering, unauthorized financing, and other issues. When the dust settled bitcoin had lost35% of its value in a handful of days. The price bottomed out after finding support in the $750/$800 area and has managed to fight its way back to the current resistance level.
(Investing.com)
NOW WATCH:Here's how to use one of the many apps to buy and trade bitcoin
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• Bitcoin is making a comeback
• Bitcoin is charging higher
• Bitcoin is getting demolished || Bitcoin breaks $1,000 level, highest in more than 3 years: The price of bitcoin(Exchange: BTC=-USS)has breached the $1,000 mark, hitting a more than three-year high on Monday.
The cryptocurrency was trading at $1,021 at the time of publication, according to CoinDesk data, at level not seen since November 2013, with its market capitalization exceeding $16 billion.
Bitcoin has been on asteady march higherfor the past few months, driven by a number of factors such as the devaluation of the yuan, geopolitical uncertainty and an increase in professional investors taking an interest in the asset class.
"We are seeing the aftermath of zero interest rates run amok. So bitcoin is a healthy reminder that we don't have to hold on to dollars or renminbi, which is subject to capital controls and loss of purchasing power. Rather it's a new asset class," Bobby Lee, chief executive of BTC China, one of the world's largest bitcoin exchanges, told CNBC by phone.
China is the source of the majority of trade in bitcoin and the devaluation of the yuan and fears over capital controls have contributed to the recent spike in the digital currency.
But several other factors have also had a notable impact. For example, bitcoin's price has appreciated around 137 percent in the past 12 months but got a big boost after Donald Trump won the U.S. election in November.
Another big event this year was in June when a change in bitcoin's underlying rules meant those who were "mining" the cryptocurrency – a process whereby users are awarded with bitcoin if they solve complex mathematical puzzles in order for a bitcoin transaction to go through – received less rewards. This was due to theprocess known as "halving,"which essentially reduces the supply of bitcoin.
But overall, bitcoin experts said that the market is growing in terms of volumes and those participating, creating a "network effect" that will see the price rise further.
"The value of Uber in any city is directly dependent on the number of drivers and number of users, it's not linear it's exponential. The same is true of the value of bitcoin," Lee said. || Bitcoin jumps above $1,000 for first time in three years: By Jemima Kelly LONDON (Reuters) - Digital currency bitcoin kicked off the new year by jumping above $1,000 for the first time in three years late on Sunday, having outperformed all central-bank-issued currencies with a 125 percent climb in 2016. Bitcoin - a web-based "cryptocurrency" that has no central authority, relying instead on thousands of computers across the world that validate transactions and add new bitcoins to the system - jumped 2.5 percent to $1,022 on the Europe-based Bitstamp exchange, its highest since December 2013. Though the digital currency has historically been highly volatile - a tenfold increase in its value in two months in late 2013 took it to above $1,100, before a hack on the Tokyo-based Mt. Gox exchange saw it plunge to under $400 in the following weeks - it has in the past two years been more stable. Its biggest daily moves in 2016 were around 10 percent, still very volatile compared with fiat currencies, but markedly lower than the trading of 2013, which saw daily price swings of as much as 40 percent. Bitcoin may have been boosted in the past year by increased demand in China on the back of a 7 percent annual fall in the value of the yuan in 2016, the Chinese currency's weakest showing in over 20 years. Data shows most bitcoin trading is done in China. Bitcoin is used to move money across the globe quickly and anonymously and does not fall under the purview of any authority, making it attractive to those wanting to get around capital controls, such as China's. It is also may appeal to those worried about a lack of supply of cash, such as in India, where Prime Minister Narendra Modi removed high-denomination bank notes from circulation in November. "The growing war on cash, and capital controls, is making bitcoin look like a viable, if high risk, alternative," said Paul Gordon, a board member of the UK Digital Currency Association and co-founder of Quantave, a firm seeking to make it easier for institutional investors to access digital currency exchanges. Though bitcoin is still some way off the all-time high of $1,163 that it reached on the Bitstamp exchange in late 2013, there are now more bitcoins in circulation - 12.5 are added to the system every 10 minutes. Its total worth is at a record-high above $16 billion, putting its value at around the same as that of an average FTSE 100 company. (Reporting by Jemima Kelly; Editing by Peter Graff) || VW Is on a Roll As $4.3 Billion DoJ Dieselgate Deal Nears: Volkswagen is on the up.
The German company looks likely to have pipped Toyota to the title of the world’s biggest-selling automaker in 2016, despite a never-ending stream of dispiriting about its “Dieselgate” scandal.
The reason is simple: in 2015, the German group hadtwoseparate crises. In addition to the diesel woes, it had a shockingly bad year in China, its most important market outside Europe, where it initially missed a shift in consumer preferences towards sport utility vehicles and crossovers.
In 2016, as Dieselgate dominated the news flow in the U.S., VW was quietly putting its problems in China behind it: sales there rose over 12% to 3.98 million - almost 40% of a global sales total of 10.312 million,according to figures released by the company Tuesday.
To judge by the stock market’s reaction, that operational turnaround is much more important than the final acts of the Dieselgate scandal. The company’s preferred stock in Frankfurt hit its highest level since the diesel scandal broke on Tuesday in reaction to the sales news.
Dieselgate, when it broke, had initially wiped over 60 billion euros ($64 billion) off VW’s market value. But analysts’ forecasts of the likely actual damage soon coalesced around 30 billion euros. So far this year, the company has paid some $17.5 billion to settlecivil claims from the Justice Department and environmental regulators, and smooth the ruffled feathers of its U.S. dealers andcustomers. It’s also paid smaller fines in countries such asSouth Korea, which also last week becamethe first country to jail a VW executive in connection with the scandal.
Read More:Inside Volkswagen's Emissions Scandal
But the general market view is that the bulk of the financial damage from Dieselgate is now accounted for, and that outstanding lawsuits against it will still leave the total bill well short of that 30 billion euro benchmark.
How far short is another question. The company cleared up one of the biggest remaining variables on Tuesday,announcing that it is in advanced talks to settle the Department of Justice’s criminal investigationwith a guilty plea and fines of around $4.3 billion (bringing the total in U.S. settlements to $21.8 billion). That will ensure that Dieselgate hits this year’s earnings too, but the company doesn’t yet know how much by.
Resolving the U.S. criminal investigation still leaves it facing another one in Germany, as well as civil actions in both countries from investors about its failure to warn them in a timely manner of the extent of the scandal. A GermanMusterklage,a lawsuit representing an individual shareholder that could be used as a template for thousands more, was filed by law firm MyRight and accepted by a court in Braunschweig last week.
Tuesday’s announcement of an imminent settlement appears to have been precipitated by a growing body of evidence from former employees who had agreed to turn state’s evidence.
On Monday, VW’s former head of compliance in the U.S., Oliver Schmidt, was arraigned and charged with conspiring to defraud U.S. regulatorson the basis of new FBI evidence. The charges unsealed in a Florida court included a direct assertion that top management had chosen to continue lying to regulators even after Schmidt and others had briefed them on the issue of ‘defeat devices’ (designed to trick emissions testers) in July 2015.
James Liang had become the first VW employee to turn state’s evidence in Septemberas part of a plea bargain. But on Tuesday, the German newspaperSueddeutsche Zeitungreported that at least five VW employees have now turned state’s evidence, and that two of them have alleged that both VW brand head Herbert Diess and former Chief Executive Martin Winterkorn knew about the issue no later than July 2015.
Winterkorn had resigned within days of the scandal breaking in September 2015. He has always insisted that he knew nothing of the defeat devices, and that line has been central to VW’s strategy of damage limitation ever since, a strategy that has deflected blame on to a small group of supposedly rogue engineering executives below the C-suite.
A spokeswoman for VW said in an e-mailed statement that “Volkswagen continues to cooperate with the Department of Justice as we work to resolve remaining matters in the United States. It would not be appropriate to comment on any ongoing investigations or to discuss personnel matters."
VW’s statement Tuesday confirmed that it would be agreeing to a “statement of facts” about its deception. That will be closely parsed by the investors suing VW for details of who knew how much, when. That will have a big bearing on efforts to prove management complicity in keeping bad news from the stock market.
It’s still too early to say how much more such an admission could cost it. Germany has no tradition of handing down punitive fines to companies that are important employers and taxpayers. However, U.S. investors were told last week by federal judge Charles Breyer that their complaint against VW could be heard in a U.S. court too, with a nod to the German’s group’s New York-listed depositary receipts.
As such, those hoping that VW could walk away from Dieselgate with substantial change out of 30 billion euros might still end up disappointed.
UPDATE: This story has been updated to include the news of Volkswagen’s statement about talks to settle the DoJ’s criminal case.
See original article on Fortune.com
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• Here's Why Bitcoin Prices Fell Sharply Last Week || Flow Signs Iconic Caribbean Comedian -- Majah Hype: MIAMI, FL--(Marketwired - Jan 6, 2017) - The Caribbean's iconic comedy star,Majah Hype, is now aFlow Brand Ambassador.
This internationally-recognized comedian is known for his infectious online videos, many of which have become viral sensations depicting hilarious Caribbean characters, including favourites "Di Rass," "Grandpa James" and "Sister Sandrine."
Majah is more than just 'hype.' A Caribbean artist at heart, he identifies with the islands, and has taken on the task of "unifying the people of the region as one" with his own unique brand of comedy. His act, he says, serves as a means of breaking down national barriers and bringing people together with relatable content.
Passionate about connecting Caribbean and diaspora audiences, Majah epitomizes the spirit, energy and dynamism of theFlowbrand and its mission of connecting communities... transforming lives.
Majah Hype joins Flow's impressive cadre of internationally recognized sports, music and entertainment Brand Ambassadors.
Check out Majah Hype onlineand be among the first to like and share his upcoming Flow sketches. You deserve a rip-roaring laugh and he is very much worth the hype!
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 -- in over 30 markets.
Learn more atwww.cwc.com, or follow C&W onLinkedIn,FacebookorTwitter.
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 visitwww.libertyglobal.com.
Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3096510Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3096512 || MGT to Present at the 9th Annual LD Micro Main Event: LOS ANGELES, CA / ACCESSWIRE / November 28, 2016 /MGT Capital Investments, Inc. (MGTI) announced today that it will be presenting at the 9th annual LD Micro Main Event on Thursday, December 8th at 11:30 AM PST / 2:30 PM EST at the Luxe Sunset Boulevard Hotel in Los Angeles, CA. John McAfee, Executive Chairman and Chief Executive Officer, and Robert Ladd, President, will be presenting, as well as meeting with investors.
The LD Micro Main Event is the largest independent conference for small/microcap companies and will feature 240 presenting names.
View MGT's profile here:http://www.ldmicro.com/profile/MGTI
News Compliments ofAccesswire.
About MGT Capital Investments, Inc.
MGT Capital Investments, Inc. (MGTI) is in the process of acquiring a diverse portfolio of cyber security technologies and ramping up its Bitcoin mining operations in the state of Washington. With cyber security industry pioneer, John McAfee, at its helm, MGT Capital is positioned to address various cyber threats through advanced protection technologies for mobile and personal tech devices, including tablets and smartphones. The Company is currently in the process of acquiring D-Vasive, a provider of leading edge anti-spy software, and Demonsaw, a provider of a secure and anonymous file sharing software platform.
MGT Capital intends to change its corporate name to "John McAfee Global Technologies, Inc," and has asserted its right to do by seeking a Declaratory Judgment in U.S. Federal Court, Southern District, NY.
For more information on the Company, please visithttp://ir.stockpr.com/mgtci.
About LD Micro
LD Micro was founded in 2006 with the sole purpose of being an independent resource in the microcap space. What started out as a newsletter highlighting unique companies has transformed into an event platform hosting several influential conferences annually (Invitational, Summit, and Main Event).
In 2015, LDM launched the first pure microcap index (the LDMi) to exclusively provide intraday information on the entire sector. LD will continue to provide valuable tools for the benefit of everyone in the small and microcap universe.
For those interested in attending, please contact David Scher atdavid@ldmicro.comor visitwww.ldmicro.com/eventsfor more information.
Investor ContactGarth RussellManaging DirectorKCSA Strategic Communicationsgrussell@kcsa.com212.896.1250
Media ContactTiffany MadisonDirector of Corporate CommunicationsMGT Capital Investments, Inc.tmadison@mgtci.com469.236.9569
SOURCE:MGT Capital Investments, Inc. via LD Micro
[Random Sample of Social Media Buzz (last 60 days)]
MMMBTC || MMMBTC || MMMBTC || Buy Bitcoin anywhere in the world - $50.00
#Items4Sale
List ur biz at http://blacktradelines.com pic.twitter.com/0vT9EyuAAm || @GenPenaloza Nueva moneda de Venezuela no son los Bolívares sino los Criptobolívares la criptomoneda socialista que hace competencia a BTC || Blockchain Steps Out of Bitcoin's Shadow - VMware CIO Vantage http://bit.ly/2i03XGg pic.twitter.com/tqQTlu3anR || MMMBTC || MMMBTC || 1 KOBO = 0.00000226 BTC
= 0.0017 USD
= 0.5355 NGN
= 0.0241 ZAR
= 0.1730 KES
#Kobocoin 2016-11-24 14:00 pic.twitter.com/AJIcPgvFdy || Sexiest babes of 2016! <_j[_> http://www.btcgallery.com/07af5aca4a29
|
Trend: up || Prices: 899.07, 895.03, 921.79, 924.67, 921.01, 892.69, 901.54, 917.59, 919.75, 921.59
|
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 2017-08-18]
BTC Price: 4160.62, BTC RSI: 69.53
Gold Price: 1285.70, Gold RSI: 63.73
Oil Price: 48.51, Oil RSI: 53.91
[Random Sample of News (last 60 days)]
Bitcoin feud splits the currency in two: This morning, bitcoin split into two currencies -- the original and Bitcoin Cash. The hard forking, as it's known, resulted from heated debate over the cryptocurrency's future, since the aging tech behind blockchain has prevented easy scaling. While a new code upgrade called SegWit2x wasintroducedlast week as a compromise, dissenters still decided to start backing Bitcoin Cash and fork off in their own direction. The community anxiously waited for financial fallout after the schism, but aside from a temporary 7 percentdropin bitcoin value this morning, the split seems to haveavoideddisaster. Whether Bitcoin Cash sticks around is another question.
The spat is rooted in bitcoin's success: A year ago, bitcoin's value hovered around $500 and slowly climbed through the new year, but started shooting up in April to top out at $3,000 in June. That led to a higher volume of transactions, which the blockchain technology -- the cryptocurrency's ledger that verifies and tracks transactions, recording the latest in unchangeable "blocks" -- was struggling to keep up with. The bitcoin network can only support 1MB per minute or seven transactions per second,accordingtoThe Telegraph, which is paltry compared to the thousands per second run through financial webs supporting credit cards, for example. To keep bitcoin growing, this number would have to go up.
But the cryptocurrency community was split on how to do it. Two competing strategies arose: Increase each block's code limit, which would store more data per block but increase server loads processing transactions, or shift smaller transactions outside the blockchain. The SegWit2x tech includes a bit of both, pushing some data outside the main network and promising to double the block size to 2MB by November. It was enough of a compromise to avert a serious and widespread cleft in the community.
That wasn't enough for some, who started backing Bitcoin Cash, which chose the former route and increased its blocks to 8MB. Today's hard fork, which essentially launched the cryptocurrency into being, boosted its value from $200 to $370. Some bitcoin exchanges, where users make transactions and store their coins, will recognize Bitcoin Cash, including Kraken and ViaBTC -- but others like Coinbase and Poloniex said they wouldn't as they're uncertain it'll stick around. If you're still not sure what this means foryoursupply of cryptocurrency, there are plenty of resources online to help, including Coindesk'sguidefor the transition.
The future of the brand-new cryptocurrency depends on more users and investors supporting it, and it's not clear whether it will survive into the future. For now, split from bitcoin, Bitcoin Cash must jockey with the other alternatives to the leading cryptocurrency like Ethereum and Litecoin. || First Bitcoin Capital Corp Acquires Control of World's First Crypto ETF Named AlphaBIT (COIN:ABC): VANCOUVER, BC / ACCESSWIRE / July 10, 2017 /First Bitcoin Capital Corp (OTC PINK: BITCF) today invested its primary wallet (1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS) owning dozens of cryptocurrencies into AlphaBIT in exchange for controlling interest, e.g. 200,000,000 ABCs. AlphaBIT is a closed-end crypto-exchange traded fund (CETF).
This is BITCF's first venture into the Ethereum ecosystem, as ABC runs on the Ethereum blockchain.
Management considers this acquisition significant for many reasons, including providing a vehicle for shareholders to transparently monitor some of the Company's assets. For example, atwww.alphabitcoinfund.com, each wallet address of each asset owned that has been included in coinmarketcap.com can be seen, along with its value and the total current illiquid values of all assets owned in this manner. Also found on this site is the current Net Asset Value (NAV) of each share of the 200,000,000 ABC that BITCF owns in ABC, as well as the market value of each crypto-share of AlphaBIT.
In order to capitalize on the pent-up demand for ETFs in this space, the Company has made this acquisition, the first of its kind ETF and the only vehicle that provides such an opportunity to speculators.
With a total of 210,000,000 ABC current and ever to be in outstanding, AlphaBIT utilizes the newest ERC20 Standard Token Ethereum protocols, which is the same as some of the world's most popular cryptocurrencies - as a smart contract - which was generated by a Decentralized Autonomous Organization (DAO).
This hybrid fund is in the process of utilizing proprietary AI robots to buy and sell many cryptocurrencies as a small part of its business model, which it hopes to increase as proven successful and greater funding allows.
The Company intends to register AlphaBIT with the SEC and subsequently cause its shares to trade on a non-crypto, more traditional stock market, such as NASDAQ, NYSE, or the London Stock Exchange.
About the Company
First Bitcoin Capital Corp is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange -www.CoinQX.com. We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges), we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. At this time, the Company owns and operates more than the following digital assets under development:
• www.CoinQX.com- cryptocurrency exchange, registered with FINCEN.
• www.altcoinmarketcap.com- market capitalization for all cryptocurrencies with up and down voting by altcoin communities.
• www.Alphabitcoinfund.comworld's first crypto ETF.
• www.strain.ID- cannabis strains genetic information depository on decentralized Blockchain.
• www.iCoiNEWS.com- real time cryptocurrency and bitcoin news site.
• www.BITminer.cc- providing mining pool management services.
• www.2016coin.org- online daily election coverage and home page for $PRES, $HILL, $GARY& $BURN - commemorative presidential election coins.
• www.bitcannpay.com- Open Loop merchant services for dispensaries.
• List of most Omni protocol coins issued on the Bitcoin Blockchain and owned by the Company:http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS
• Second Omni wallet owned by CoinQX reflecting our airline mileage tokens issued:http://omnichest.info/lookupadd.aspx?address=1VuF26AgLyQ4tBoGzYTWRqtDG9zCB7QXe
• Third (managed) Omni wallet owned by COINQX:http://omnichest.info/lookupadd.aspx?address=1M18oycUdsXv4pKyLLiASREcRGzPu22MxK
Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's filings, which are on file atwww.OTCMarkets.com.
Contact us via:info@bitcoincapitalcorp.comor visithttp://www.bitcoincapitalcorp.com.
SOURCE:First Bitcoin Capital Corp. || Everything to Know About The Latest Worldwide Ransomware Attack: Meet the sequel toWannaCry, the wide-ranging ransomware attack that crippled businesses around the globe last month.
On Tuesday, another widespreadransomware attackbegan halting unprepared businesses in their tracks. The new attack uses the same method of propagation as WannaCry: A leaked hacking tool called Eternal Blue, which has been linked to the U.S. National Security Agency.
One of the major differences between the two attacks is that the most recent event does not yet appear to be susceptible to a hardcoded “kill switch.” That means it may prove harder to overcome.
Security experts have been warning organizations that failed to apply security patches to theirMicrosoftWindows-based computer systems that it was only a matter of time before another digital siege surfaced. It seems their predictions have borne true.
Get Data Sheet, Fortune’s technology newsletter.
Here’s a quick FAQ to get you up to speed.
A wave of ransomware attacks spread like wildfire on Tuesday. Many Microsoft Windows-based computers—specifically, ones not protected against a vulnerability in a Microsoft messaging protocol called SMB-1—began seizing up worldwide, locking employees out of their desktops, and displaying ransom notes.
Unable to access their files and folders, workers and managers were greeted by on-screen demands for payment of $300 in Bitcoin, a digital currency often used by cyber extortionists because it’s easy to send and hard to track.
The attack struck organizations in the U.S., Australia, Italy, Germany, Poland, Ukraine and Russia. Costin Raiu, director of global research at Russian security firm Kaspersky Labs, posted a bar graph on Twitter showing the geographic distribution of victims, according to what his firm could measure. (Kaspersky’s customer base skews towards Russian-speaking countries, which might explain the spread.)
Some of theaffected companies include Maerskamkby, the Danish shipping giant, Rosneft, the Russian oil company, WPP, the British advertising agency, andMerckmrk, the U.S. pharmaceutical giant. There are reports that the attack has also affected banks, hospitals, governments, airports, and other organizations.
Initial analyses suggested that the latest wave of attacks involved malware based on Petya, a type of ransomware that first surfaced last year. Further investigations have disputed this analysis. In lieu of a better name, some cybersecurity firms, such as Kaspersky, have begun referring to the latest malware as “NotPetya.”
Jeremiah Grossman, chief security strategist at the cybersecurity firm SentinelOne, toldFortunethere isn’t enough evidence yet to uncover the malware’s provenance. “This outbreak has similar characteristics as Petya, such as infecting the MBR [Master Boot Record, an important component of Microsoft computer hard drives] and encrypting the entire drive, however, it is not clear yet that this is a Petya variant,” he said.
Companies that failed to patch their systems against the Microsoft vulnerability were open to this attack. It’s still not clear what the initial attack vector was. But once inside, the worm could spread across computer networks via the hole in Microsoft SMB-1.
It seems that many of the organizations affected by the malware operated industrial systems. These machines can be hard to patch because they run critical processes are difficult to take offline. “Organizations like these typically have a hard time patching all of their machines because so many systems simply cannot have down time,” said Chris Wysopal, cofounder and chief tech officer of Veracode, an application security firm purchased by CA Technologies earlier this year.
There are a few simple steps businesses can take, as the cybersecurity firm Palo Alto Networkspanwexplains on its“threat brief” blog. First, apply Microsoft patchMS17-010. Second, block connections to Microsoft Windows’ port 445, the part of the operating system associated with the vulnerable protocol. And finally, maintain regular data backups, and use them to restore systems.
This is a continual source of debate in the information security community. The general belief is, no, you should not pay the ransom. For one, there’s no guarantee extortionists will return your files. Second, funding cybercriminals will encourage them to develop similar attacks in the future.
Still, sometimes companies take a gamble and pay up in the hopes that the criminals will restore access to their files and information. In this case, it appears as though customers will not be able to reclaim their data even if they do pay up. Posteo, the email service chosen by the attackers, said it blocked the account they created, meaning the extortionists have lost their channel to communicate with victims and hand over decryption keys. Despite this, the attackers’ Bitcoin wallet had already received 28 transactions equaling 3 Bitcoins, or more than $7,000, as of 3 P.M. ET on Tuesday. || Zacks Investment Ideas feature highlights: iShares Core Dividend Growth, Vanguard Dividend Appreciation ETF, Guggenheim S&P 500 Equal Weight ETF, PowerShares FTSE RAFI US 1000 Portfolio and Guggenheim S&P 500 Pure Value ETF: For Immediate Release Chicago, IL – August 07, 2017 – Today, Zacks Investment Ideas feature highlights Features: iShares Core Dividend Growth ETF DGRO – Free Report ), Vanguard Dividend Appreciation ETF VIG – Free Report ) , Guggenheim S&P 500 Equal Weight ETF RSP – Free Report ), PowerShares FTSE RAFI US 1000 Portfolio PRF – Free Report ) and Guggenheim S&P 500 Pure Value ETF RPV – Free Report ) . 5 Smart Beta ETFs with Brilliant Returns The ETF industry has traditionally been dominated by products based on market capitalization weighted indexes that are designed to represent the market or a particular segment of the market. They provide low-cost, convenient and transparent way of replicating market returns. But many investors have realized that capitalization weighted indexes are not the most efficient way of investing, at times. On the other hand, some investors who believe that it is possible to beat the market by superior stock selection opt to invest through active managers. However, most investors have been disappointed with the performance of active managed funds, as returns generated by them often do not justify the higher costs associated with them. Smart beta strategies seek to combine the best of active and passive investing i.e. outperforming the market while keeping costs low. While not so popular with retail investors yet, they have already become very popular with institutional investors. (Read: Ethereum ETF? The Bitcoin Crushing Digital Currency Explained) What Is Smart Beta? In simple words, ‘beta’ can be defined as the correlation of a security’s return with the market return. Smart beta indexes attempt to select stocks that may have better risk-return performance than the market. Many ETF industry experts do not like the name since the word ‘smart’ may suggest that the traditional strategies are ‘not so intelligent’ or rather ‘dumb’. They prefer to call these ‘alternative’ or ‘advanced’ beta strategies instead of ‘smart’. Investors should probably understand that these indexing methods are just different and may be better. There is nothing really smart or intelligent about them. (Read: Buy Top Ranked Apple ETFs on Solid Earnings) Story continues This space offers a number of choices to investors, starting from simplest equal-weighting to fundamental weighting which assigns weights to stocks based on their fundamental characteristics such as revenue/earnings, cash flow, dividends etc. Others seek to exploit “anomalies” present in the market. Best Smart Beta ETFs Not all these strategies have been able to deliver superior results. Strategies like low volatility, high beta and momentum outperform only in certain market conditions and investors are not very good at market timing. Further, many smart beta strategies are based on market anomalies that disappear if too many investors chase them. (Read: 6 ETFs for a Historically Low Returns) And, while smart beta ETFs follow rules based methodologies, not all are very transparent and simple to understand. Most of them charge high fees for their complicated strategies, which may or may not produce commensurate results. At the same time, there are some smart beta ETFs that follow easy to understand strategies and add value to investor portfolios. These have the potential to outperform the market over the long term. We have highlighted five such excellent smart beta ETFs. iShares Core Dividend Growth ETF (DGRO – Free Report ). The product holds companies that have a history of consistently growing their dividends and are likely to continue growing dividends. Holdings are weighted by dividend dollars. I believe that companies with uninterrupted dividend growth record usually have solid balance sheets and strong cash flows. So, these strategies outperform the market over time and also provide stability and downside protection during market downturns, in addition to growing income streams. The ETF doesn’t have a lot of exposure to rate sensitive sectors and would be a good choice for investors worried about the rising rate environment. It has a low expense ratio of 0.08%. The ETF had beaten the S&P 500 index since inception in June 2014. It is up 38.7% while SPY has risen 35.6% over the past three years. Vanguard Dividend Appreciation ETF (VIG – Free Report ) VIG is the most popular ETF in the dividend space with AUM exceeding $24.8 billion. It is my favorite dividend ETF. Like DGRO, this product also focuses on dividend growth. It holds high quality stocks that have a record of increasing dividends over the past decade. The product currently holds 185 securities in its basket. The ETF charges just 8 bps in annual fees while its dividend yield is 2.05%. VIG has delivered a return of 114.6% over the past ten years, compared to SPY’s 110.5% return. Guggenheim S&P 500 Equal Weight ETF ( RSP – Free Report ) Each of the stocks that make up the S&P 500 index are equally weighted in this product rather than by market capitalization. Due to equal weighting, this product has higher exposure to smaller companies that are more volatile but have higher return potential as well. At the same time, equal weighting largely reduced single stock risk. Since its inception about 10 years back, the fund has significantly outperformed the broader market. It is up 128%, while SPY is up about 110% over the past ten years. PowerShares FTSE RAFI US 1000 Portfolio (PRF – Free Report ) PRF is based on a RAFI index that aims to select stocks based on four fundamental measures-- book value, cash flow, sales and dividends. The 1,000 equities with the highest fundamental strength are weighted by their fundamental scores. Top holdings include Exxon Mobil, Apple and Chevron but the asset base is pretty well spread out with top 10 holdings accounting for less than 18% of the total. The product has an expense ratio of 39 basis points. The ETF made its debut in December 2005 and has outperformed the Russell 1000 index since inception. Over the past ten years, PRF is up 118%, compared to SPY’s rise of110.5%. Guggenheim S&P 500 Pure Value ETF (RPV – Free Report ) S&P 500 pure style indexes divide one third of S&P 500 market capitalization as ‘Pure Growth and one third as ‘Pure Value’. These two buckets have no overlapping stocks. Index constituents are weighted by their style scores as opposed to market cap. Thus ‘pure’ approaches eliminate any overlap between growth and value. RPV tracks the S&P 500 Pure Value Index and holds 114 securities in its basket. Deep focus on value stocks is evident from P/E and P/B ratios of 14.96 and 1.49 respectively. It has risen 128% over the past ten years, handily beating the broader market. Bottom Line Not all smart beta funds have outperformed their market-cap weighted counterparts. Further they usually have slightly higher expense ratios and many also come with higher trading costs, due to lower volumes. But some of them have been consistently outperforming and are worth a look due to their excellent strategies. To begin with, investors should use products based on simple and transparent alternative methodologies that are easy to understand and are not too expensive. More Stock News: Tech Opportunity Worth $386 Billion in 2017 From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future. Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential. See these stocks now>> Looking for Stocks with Skyrocketing Upside? Zacks has just released a Special Report on the booming investment opportunities of legal marijuana. Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>> Get the full Report on DGRO - FREE Get the full Report on VIG - FREE Get the full Report on RSP - FREE Get the full Report on PRF - FREE Get the full Report on RPV - FREE Follow us on Twitter: https://twitter.com/ZacksResearch Join us on Facebook: https://www.facebook.com/ZacksInvestmentResearch 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/performance 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 ISHRS-CORE DG (DGRO): ETF Research Reports VANGD-DIV APPRC (VIG): ETF Research Reports GUGG-SP5 EQ ETF (RSP): ETF Research Reports GUGG-SP 500 PV (RPV): ETF Research Reports PWRSH-FTSE RAFI (PRF): ETF Research Reports To read this article on Zacks.com click here. || How a one-of-a-kind business has kept 5,000 kitchens out of landfills: Ordinarily, you’d probably have no interest in my kitchen renovation project. It’s a common story: The kitchen is nearly 20 years old and starting to fall apart, we’re readying the house for an eventual sale, blah blah blah. What makes it fascinating was how we got rid of it. Most people throw their old kitchens into dumpsters, which takes all of it to the landfill: cabinets, countertops, appliances. Sometimes your contractor may take pieces off your hands; sometimes you can get Habitat for Humanity to take pieces of it. But mostly, it’s landfill. But we stumbled onto a much better approach, in the form of a company called Renovation Angel . There’s only one company like it in the country, and its business model is astonishingly airtight: They send a crew to dismantle, wrap, and haul away your old kitchen, piece by piece, for free. You’re saved the cost of the demolition ($5,000 or so), dumpster rental, and disposal fees. Then they then give you a huge tax deduction. Winner: You. They set up your kitchen’s components in a 43,000-foot showroom in New Jersey, where they then resell your entire kitchen! Other people who are renovating their kitchens get luxury stuff for a fraction of its usual price—maybe 10% or 20% of its original cost. Winner: The next owner of your kitchen. The showroom holds about 50 kitchens at a time. Over 12 years, this operation has saved 5,000 kitchens from the landfill. Winner: The planet. The company employs 35 people. Winner: Renovation Angel’s employees. The best part: After expenses, Renovation co-founder Steve Feldman donates the rest of the company’s income to charity—$2.2 million so far. Winners: At-risk children, recovering addicts, job trainees. This is, in other words, a win-win-win-win-win scenario. But does it work? I love that that this idea has something for both hard-nosed conservatives (“I’ll take that $25,000 tax deduction, thank you”) and bleeding-heart liberals (“Save the environment and help the less fortunate? Sign me up!”) But I’ll just say it: All of this sounded too good to be true. Story continues So I emailed the company. They sent a guy out to look over the kitchen, measure, take photos, and assess its resale value. The economics of this company work out, Feldman says, only if he resells upscale kitchens; at the moment, Renovation Angel accepts only about half of the candidate kitchens. Our kitchen made the cut. So on the appointed day, a crew of four men—insured, background-checked—spent about four nonstop hours taking the old kitchen apart. (Incredibly, this was their second kitchen of the day.) The Renovation Angel crew doesn’t demolish the old kitchen; they recycle it. The term for this process is demolition , but no destruction was involved. Instead, they carefully unscrewed every piece, wrapped it for protection, and loaded it into a moving truck parked outside. It was amazing to watch, especially in time-lapse (see my video above) Off it goes to New Jersey! To get the tax deduction, I had to hire an appraiser; but that was my only expense. (I guess that means that somebody else wins from all of this.) A week later, I visited the Renovation Angel showroom to interview Feldman—and there, among all the other kitchens stacked up for sale, were all the pieces of my own beloved kitchen, ready to move on to a new home. I even saw a New Jersey couple checking it out. That’s the part I didn’t get. How can someone buy a kitchen from a totally different house? What are the odds that it will fit their kitchen space? “Everybody has this question,” Feldman says. “The answer is, kitchens are modular. So if you had a 20 by 15-foot space, somebody else might have a 12 by 20 space. They use a few less cabinets. They rearrange them differently. They get different granite. But at the end of the day, they’re saving themselves tens of thousands of dollars.” Founder Steve Feldman shows off a kitchen ready for a new life. Steve’s story Confusingly, at least to me, Renovation Angel is the name of the demolition side of the company; the part that resells the kitchens is called Green Demolition. It’s the Green Demolition site that lists kitchens for resale . Feldman, the creator of both halves, has quite a life story. He was an alcohol and drug addict from his teen years right through his career as a radio executive, working for “Imus in the Morning.” He credits a drug-rehab program for saving his life when he was 30. “I’m a recovered addict for 29 years,” he says now. About 12 years ago, he saw a 10,000-square-foot house in Greenwich, Connecticut, being demolished—and watched all the fine marble, custom cabinetry, and expensive appliances get tossed into a dumpster. “And I see a sign in the driveway, and it says, ‘Demolition in progress.’ And I think, what’s this? So I drive up to the mansion, and it’s gone. Just a pile of rubble. And I have this ‘Aha!’ moment: Maybe I can earn money by selling kitchens and beautiful fixtures out of mansions.” When the local Greenwich newspaper wrote an article about this idea, Feldman got 36 phone calls from hedge fund managers, architects, builders, and designers—and the company was on its way. Today, the company recycles about 500 kitchens a year, and has started to reclaim furniture and fixtures from other rooms of the house. Renovation Angel crews can rescue kitchens from anywhere in the country; eventually, Feldman hopes to open showrooms in California and Florida. His backstory, by the way, accounts for Feldman’s decision to turn over the company’s profits to charity. “I got my life given back to me [by one of these social programs], and I’m motivated for the rest of my life to give back.” Storied kitchens It’s fun to walk through the enormous Renovation Angel showroom, because Feldman is bursting with the stories behind these kitchens. “We went into one of the biggest mansions in North Las Vegas,” he says. “The kitchen had only been used 25 times. It was a $400,000 kitchen, but it was forest green. It wasn’t the color that most people want. The kitchen designer told me that kitchen would have been thrown out if we hadn’t reclaimed it.” In the end, Feldman says, “a woman in Johnson City, Tennessee bought it for $62,000, because her house had recently burned down.” When Feldman says it’s a kitchen store, he means it. At one point, he says, he acquired a kitchen worth $630,000, although it included 15 rooms’ worth of millwork (doors and trim). “A guy ordered it in LA, his Ponzi scheme got bankrupted, and it all sat in a warehouse. I found a dentist to buy the whole lot for $125,000. It was a good deal for everybody.” Feldman says he also gets kitchens from manufacturers and designers where parts were mis-ordered. “One designer ordered the wrong color on a kitchen—a $127,000 kitchen. The homeowner said, ‘This is the wrong color—order me the right color!’ So she brought this kitchen here, and we sold it.” One of a kind “All right, let me play the role of a viewer,” I finally asked Feldman. “It’s like, oh, OK, so people like Pogue get a huge tax write-off and free removal of the old kitchen. The landfill wins. Charities win. Future buyers win. It sounds a little too good to be true. Somebody here is losing.” “Well, the risk is on our organization,” Feldman replied. “It’s a ton of labor. We do a lot of overtime. And it’s a lot of complicated logistics to coordinate, from the removal to the transportation to the unpacking to the selling to the delivering. That’s why the kitchen industry never had a recycle or trade-in component: because it’s difficult, and it’s space-consuming, time-consuming risk. They want to focus on selling new. So the opportunity is left for us.” I just couldn’t see who doesn’t come out ahead in Renovation Angel’s system. Feldman insists that the answer is, nobody. “Nobody loses,” he says. “Nobody! You know why? Because it would otherwise go to a landfill. The loser is when you put your kitchen in the dumpster.” More from David Pogue: Is through-the-air charging a hoax? Electrify your existing bike in 2 minutes with these ingenious wheels Marty Cooper, inventor of the cellphone: The next step is implantables The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogue’s search for the world’s best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’s davidpogue.com . On Twitter, he’s @pogue . On email, he’s poguester@yahoo.com. You can read all his articles here , or you can sign up to get his columns by email . || Advanced Micro Devices, Inc. (AMD) Radeon Vega Frontier Edition Hits Shelves: InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Advanced Micro Devices, Inc.(NASDAQ:AMD) announced that its new Radeon Vega Frontier Edition graphics card is now available for purchase.
Source: Asus
The first of the new AMD graphics cards designed around the company’s Vega architecture, the Radeon Vega Frontier Edition is aimed at “the pioneers of the world.”
Also hitting shelves is a previous-generation AMD card that’s been optimized to meet the needs of digital currency miners, the Mining RX 470.
AMDannounced the Radeon Vega Frontier Editionback in May. The advanced new AMD graphics card goes head-to-head against rivalNvidia Corporation(NASDAQ:NVDA) and its Titan Xp.
Nvidia has been promoting that Titan Xp as being theworld’s most powerful graphics card, with a whopping 12 teraflops of processing power. However, the Radeon Frontier Vega –which is the first new Radeon card to be released that’s based on AMD’s new Vega GPU architecture– can manage in the 13 teraflops range. That claim is giving AMD bragging rights over the Titan Xp.
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What wasn’t known for certain up until now was one key detail: pricing.
Based on the Titan Xp and AMD’s past patterns, analysts had pegged the new Radeon flagship somewhere in $1,000 territory. AMD announced that the Radeon Vega Frontier Edition is available for purchase and retailers are stocking the card. As for price, there are two primary options. Go with traditional air cooling and the sticker is $999 — right where it was expected to be. However, if you choose the liquid-cooled version, be prepared to part with $1,499.
AMD has been positioning the Radeon Vega Frontier Edition as a card for loftier purposes (digital pioneers, innovators and content creators), butThe Vergepoints out that the company isoffering dual-mode driversfor the new Radeon graphics card. Doing so lets it be flipped between professional applications and use for video game acceleration. So technically, it could also be used to power a killer video game rig.
A veryexpensivegaming rig.
Cryptocurrencies are currentlyworth an estimated $107 billion. And the way new currency is generated is through a process known as “mining.” This system is incredibly processor-intensive and is perfectly suited to graphics cards.
When it comes to Bitcoin mining, graphics cards and their parallel processing are far more efficient and cost-effective than CPUs. Advanced Micro Devices has been the manufacturer of choice, with its GPU architectureboasting an advantage over Nvidia’swhen it comes to this specific task.
Bitcoin and other crytocurrencies like Ethereum have gone gangbusters this year, and AMD admits the demand for its graphics cards by miners is seriously boosting sales.
It probably shouldn’t be a surprise that Advanced Micro has quietly released a version of its previous generation RX 470 graphics card that is optimized for Bitcoin mining. The Mining RX 470 has tweaks like dual ball bearing fans and dust resistance so it can run continuously, 24/7, for months as part of a Bitcoing mining rig. The new AMD graphics card is claimed to have twice the lifespan of a stock RX 470.
At the moment, theMining RX 470 is being offered exclusivelybyAsus.
• How to Trade Advanced Micro Devices, Inc. (AMD) Stock When It Naps
AMD stock is up over 8% at this point in 2017, and that’s before it began to release its new Radeon video cards. With the flagship Radeon Vega Frontier Edition now hitting store shelves, and the redesigned Mining RX 470 there to take advantage of the cryptocurrency mining rush, the company is poised to do even better.
At this point, it has bragging rights for the world’s most powerful graphics card for digital innovators, and what seems likely to quickly become the most popular card for Bitcoin mining.
Those are two very different target demographics, but both are willing to spend money to get the best.
As of this writing, Brad Moon did not hold a position in any of the aforementioned securities.
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The postAdvanced Micro Devices, Inc. (AMD) Radeon Vega Frontier Edition Hits Shelvesappeared first onInvestorPlace. || Everything to Know About The Latest Worldwide Ransomware Attack: Meet the sequel to WannaCry , the wide-ranging ransomware attack that crippled businesses around the globe last month. On Tuesday, another widespread ransomware attack began halting unprepared businesses in their tracks. The new attack uses the same method of propagation as WannaCry: A leaked hacking tool called Eternal Blue, which has been linked to the U.S. National Security Agency. One of the major differences between the two attacks is that the most recent event does not yet appear to be susceptible to a hardcoded “kill switch.” That means it may prove harder to overcome. Security experts have been warning organizations that failed to apply security patches to their Microsoft Windows-based computer systems that it was only a matter of time before another digital siege surfaced. It seems their predictions have borne true. Get Data Sheet , Fortune’s technology newsletter. Here’s a quick FAQ to get you up to speed. What has happened? A wave of ransomware attacks spread like wildfire on Tuesday. Many Microsoft Windows-based computers—specifically, ones not protected against a vulnerability in a Microsoft messaging protocol called SMB-1—began seizing up worldwide, locking employees out of their desktops, and displaying ransom notes. Unable to access their files and folders, workers and managers were greeted by on-screen demands for payment of $300 in Bitcoin, a digital currency often used by cyber extortionists because it’s easy to send and hard to track. Who has been affected? The attack struck organizations in the U.S., Australia, Italy, Germany, Poland, Ukraine and Russia. Costin Raiu, director of global research at Russian security firm Kaspersky Labs, posted a bar graph on Twitter showing the geographic distribution of victims, according to what his firm could measure. (Kaspersky’s customer base skews towards Russian-speaking countries, which might explain the spread.) Current situation of Petrwrap/wowsmith123456 ransomware - percentage of infections by country. pic.twitter.com/Q42WPlBlja — Costin Raiu (@craiu) June 27, 2017 Some of the affected companies include Maersk amkby , the Danish shipping giant, Rosneft, the Russian oil company, WPP, the British advertising agency, and Merck mrk , the U.S. pharmaceutical giant. There are reports that the attack has also affected banks, hospitals, governments, airports, and other organizations. Story continues What is Petya? Initial analyses suggested that the latest wave of attacks involved malware based on Petya, a type of ransomware that first surfaced last year. Further investigations have disputed this analysis. In lieu of a better name, some cybersecurity firms, such as Kaspersky, have begun referring to the latest malware as “NotPetya.” Jeremiah Grossman, chief security strategist at the cybersecurity firm SentinelOne, told Fortune there isn’t enough evidence yet to uncover the malware’s provenance. “This outbreak has similar characteristics as Petya, such as infecting the MBR [Master Boot Record, an important component of Microsoft computer hard drives] and encrypting the entire drive, however, it is not clear yet that this is a Petya variant,” he said. How did this happen? Companies that failed to patch their systems against the Microsoft vulnerability were open to this attack. It’s still not clear what the initial attack vector was. But once inside, the worm could spread across computer networks via the hole in Microsoft SMB-1. It seems that many of the organizations affected by the malware operated industrial systems. These machines can be hard to patch because they run critical processes are difficult to take offline. “Organizations like these typically have a hard time patching all of their machines because so many systems simply cannot have down time,” said Chris Wysopal, cofounder and chief tech officer of Veracode, an application security firm purchased by CA Technologies earlier this year. What can businesses do to protect themselves? There are a few simple steps businesses can take, as the cybersecurity firm Palo Alto Networks panw explains on its “threat brief” blog . First, apply Microsoft patch MS17-010 . Second, block connections to Microsoft Windows’ port 445, the part of the operating system associated with the vulnerable protocol. And finally, maintain regular data backups, and use them to restore systems. Should you pay the ransom? This is a continual source of debate in the information security community. The general belief is, no, you should not pay the ransom. For one, there’s no guarantee extortionists will return your files. Second, funding cybercriminals will encourage them to develop similar attacks in the future. Still, sometimes companies take a gamble and pay up in the hopes that the criminals will restore access to their files and information. In this case, it appears as though customers will not be able to reclaim their data even if they do pay up. Posteo, the email service chosen by the attackers, said it blocked the account they created, meaning the extortionists have lost their channel to communicate with victims and hand over decryption keys. Despite this, the attackers’ Bitcoin wallet had already received 28 transactions equaling 3 Bitcoins, or more than $7,000, as of 3 P.M. ET on Tuesday. Do not pay the #Petya ransom. You will not get your files back. The email address used is blocked! @SwiftOnSecurity @thegrugq pic.twitter.com/NOzxLz0vul — haveibeencompromised (@HIBC2017) June 27, 2017 || MORGAN STANLEY: 'Bitcoin acceptance is virtually zero and shrinking': (FILE PHOTO - A Bitcoin sign is seen in a window in TorontoThomson Reuters)
Theprice of bitcoinis up over 250% since last year, but acceptance of the cryptocurrency as a form of payment among top merchants has declined.
A research note out Wednesday by a group of analysts at Morgan Stanley led by James E Faucette said "bitcoin acceptance is virtually zero and shrinking," despite its impressive appreciation.
According to the bank, last year bitcoin was accepted at five of a group of 500 top online merchants. Today, only three of those merchants accept bitcoin as a form of payment.
"The disparity between virtually no merchant acceptance and bitcoin’s rapid appreciation is striking," the analysts wrote.
The investment bank outlined three reasons for the decline in bitcoin acceptance among merchants.
The first reason has to do with the appreciation of bitcoin. Most owners of the cryptocurrency are unwilling to let go of their holdings to pay for goods because they expect the price of bitcoin to go up. This point underpins the bank's thesis thatbitcoin mainly functions as aninvestment vehiclerather than fiat currency that you could spend on goods and services.
Issues with bitcoin's scalability, which has made transactions slow and expensive, is another reason the bank thinks merchants find bitcoin unappealing as a form of payment.
Finally, there has been a lack of pressure from the people who run the bitcoin infrastructure, according to the bank, to push merchants to accept bitcoin as a form of payment.
"The ecosystem has focused more on value speculation rather than the foot leather-eating work of increasing acceptance - way easier to trade speculatively than convince new merchants to accept the cryptocurrency," the bank said.
The bank notes that, while many merchants are uninterested in accepting bitcoin as a form of payment, many find the technology that underpins the cryptocurrency as a tech they could use to improve their infrastructure.
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• There was a $20 billion cryptocurrency price correction over the weekend || GOLDMAN SACHS: Bitcoin may need 'another few swings' before making a run at record highs: Bitcoin is is trading down 4.7% at $2,623 a coin. Tuesday's selling comes after a strong day of gains on Monday as traders continue to jockey for position ahead of the August 1 decision on whether or not bitcoin will be split in two . According to Sheba Jafari, the head of technical strategy at Goldman Sachs, bitcoin "may need another few swings" before the trend continues. The cryprocurrency's inability to breakout above its June 13 high of $3,000 suggests it is forming a triangle pattern that could see as many as five swings, and a low of $1,786, Jafari writes. But fear not, says Jafari, because a run at record highs is in the cards as bitcoin remains in the fourth wave of a five wave series. "Anything above 3,000 (Jun. 13th high) will suggest potential to have already started wave V, which again has a minimum target at 2,988 and scope to reach 3,691 (the latter being a preferred target as this assumes a new high.)," Jafari wrote in a note to clients sent out on Monday. So far Jafari has been spot on in her analysis. In early July, Jafari suggested bitcoin wouldn't fall too far below $1,857 . It fell to somewhere between $1,758 or $1,852 (depending on which data you use). A few weeks earlier, Jafari predicted a big drop was coming after bitcoin hit $3,000. Bitcoin is up 166% so far in 2017. 7 25 17 bitcoin technical analysis COTD (Goldman Sachs) More From Business Insider The Fed has become the dollar's 'biggest problem' Legendary investor Byron Wien says the stock market is entering uncharted territory Consumer spending propels economic growth in the 2nd quarter — but by less than expected || This Is Why Starbucks Corporation (SBUX) Stock Is Just Getting Started: InvestorPlace - Stock Market News, Stock Advice & Trading Tips Starbucks Corporation (NASDAQ: SBUX ) has come a long way from its 1992 initial public offering and market capitalization of $250 million. Now more than two decades after its IPO, Starbucks by that same measurement is worth $85 billion. Starbucks Corporation Source: Shutterstock From 165 stores to over 24,000 stores, SBUX has led the way in food and beverages, and SBUX stock holders have enjoyed a return leaning up against 20,000%. What Howard Schultz has built is a force to be reckoned with both at home and abroad. Currently, no one else has the lethal combination of scale, branding and technological savvy to compete at the same level. All the while, SBUX has engendered goodwill with the community, managing to uphold a high standard of ethics. SBUX’s Future Is Abroad China, specifically. Starbucks China’s CEO, Belinda Wong, has stated , “In China in the coming five years we are definitely adding 10,000 plus new jobs every year. We open 500 stores a year and our goal is by 2021 … to have 5,000 stores.” 8 Stocks to Sell for July That means there is at least one store opening every day somewhere in China. And against the following economic backdrop, there will be plenty of demand with ever-increasing purchasing power. And by 2022, around 75% of China’s urban population will be considered middle class . That’s some 550 million people ! GDP Growth is forecast at 6%-7% through 2020, and the consumer economy will grow to $6.5 trillion by the end of the decade . At the time of the announcement there were approximately 2,500 stores in China. SBUX intends to infill in the first and second tier cities (Beijing, Guangzhou, Shenzhen, Shanghai) while simultaneously pursuing higher end and a more curated experience in Reserve bars. Further integrating into local Chinese life, SBUX added a social gifting feature on WeChat from Tencent Holdings Ltd (OTCMKTS: TCEHY ), China’s leading mobile social communications service, earlier this year, a show of creativity and good business sense in that market. Story continues This gifting feature allows SBUX to leverage Wechat’s 846 million global monthly active user accounts (as of Q3 of 2016), allowing customers to gift a frappacino with a few taps. Per Capita Right now, Starbucks stores per capita in the U.S. hovers around 41 (based on 319 million and 13,327 stores). Let’s do something drastic. Let’s cut that per capita figure in half to 20 and apply that to a conservative 1.3 billion population. How many theoretical Starbucks stores does that get us to? 26,000. At half the U.S. penetration, SBUX still has room for another 20,000 stores … in China alone. There’s still a long way to go. Lots of expansion opportunities based on conservative assumptions. And this is in a market with best in class ROIs. China boasts great unit economics: For company-owned stores, we are looking at 30% year-one cash profit (29% in the U.S. and 28% in Japan) and 64% return on investment (61% in the U.S., and 55% in Japan). ROI here is defined as total pre-tax cash profit divided by total store investment. A Digital Future A discussion of the future for any company cannot avoid mention of technology. Here, SBUX takes the cake when pitted against retailers and food & beverage companies alike. Starbucks offers the largest mobile ecosystem of any retailer in the world — 13.3 million Starbucks Rewards members and 8 million mobile paying customers (one out of three use Mobile Order & Pay). That’s a lot of engaged users, and the number keeps growing. When it comes to anticipating customers’ wants and needs and making checkout easy, SBUX is king. Last year, it unveiled a new ordering system, called My Starbucks Barista, powered by artificial intelligence (AI). This upgrade will let customers place orders via voice command or messaging interface. They will continue in this vein to out-digitize competitors, while increasing the stickiness of customers. Bottom Line on SBUX Stock Time and time again, SBUX demonstrates its commitment to innovation from digital technology to tea beverages (this concept hasn’t taken off in the way management has hoped but the future is promising with a massive global tea market without a dominant player) to food to new store concepts. Apple Inc. (AAPL) Stock and Its iPhone Woes Reveal a Critical Weakness As the company continues to tweak concepts and leverage its global supply chain, it will become harder and harder for competitors to catch up. The divide in footprint and growth will become increasingly wide. Twenty years from now, you’ll look back with regret if you didn’t own it “back in the day.” As of this writing, Luce Emerson did not hold a position in any of the aforementioned securities. More From InvestorPlace The 7 Best Dividend Stocks to Buy for Q3 and Beyond Bet on the T-Mobile US Inc (TMUS) Stock Bulls 3 Stocks to Buy to Leverage the Bitcoin Craze The post This Is Why Starbucks Corporation (SBUX) Stock Is Just Getting Started appeared first on InvestorPlace .
[Random Sample of Social Media Buzz (last 60 days)]
サイドチェーンの時代が来るとしたらやはりBTC回帰かねぇ、分裂もうまく行った()し || Bitcoin hacking: Should it make you reconsider investing? - http://finder.com.au http://ift.tt/2uDFb1t || Each contract is $1 USD equivalent. Still, your question is valid because we don't know the leverage used. ~60 BTC loss at 25x leverage. || $BTC Current price of Bitcoin is $2684.00 #bitcoin | More on #CryptoPresshttp://ift.tt/2lgMf2q || Y'all hurry up and get some bitcoin
Link in comments || I would love if I could buy/sell it through regular brokerage. Would be tempted to keep trading cash in some actual Bitcoin that way. || Live Trading: Cryptocurrencies-Bitcoin, heute um 10:00 Uhr, http://bit.ly/2t8C8Ne #webinar || Bitcoin Price Breaks $4,100, Max Keiser’s $5,000 Target Now in Sight https://www.cryptocoinsnews.com/?p=112904 via @CryptoCoinsNews || 1 #BTC (#Bitcoin) quotes:
$2749.01/$2756.97 #Bitstamp
$2610.97/$2613.99 #BTCe
⇢$-146.00/$-135.02
$2740.17/$2768.98 #Coinbase
⇢$-16.80/$19.97 || うちは、3日前にBTCに替えたのが良かったです
٩꒰๑╹ω╹๑ ꒱۶
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Trend: up || Prices: 4193.70, 4087.66, 4001.74, 4100.52, 4151.52, 4334.68, 4371.60, 4352.40, 4382.88, 4382.66
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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)]
Man Group Analysts Say Crypto Is Just a Rate-Sensitive Risk Asset: The rising correlation of bitcoin with both the Nasdaq stock index and the ARK Innovation exchange-traded fund (ETF) suggests the cryptocurrency has become yet another risk asset, analysts from the hedge fund Man Group said. In a report entitled “Views From the Floor – Is Crypto Just a Rate Sensitive Risk Asset?” the analysts noted that rising inflation and the prospect of higher interest rates have “eroded the theoretical value of long-dated cashflows,” resulting in underperformance for both the Nasdaq and the ARK Innovation ETF. Bitcoin has now joined them, the money manager said, with a correlation of 0.44 to the Nasdaq index and 0.43 to the ARK ETF. This growing correlation may be evidence of a change in the nature of bitcoin as an asset class, Man Group said, noting that before 2019 the digital asset went through periods of negative correlation with both measures. Since then, correlations to “risky tech” have turned positive, it added. “This mirror’s bitcoin’s own journey along the Gartner hype cycle: From being an underground tech phenomenon, the flagship cryptocurrency is now a mainstream way for both institutional and real investors to speculate,” the report said. It’s not surprising that bitcoin is becoming more correlated with risky assets such as equities, whose value is tied to distant future cashflows, the hedge fund said, adding that the higher the correlations get “the more bitcoin seems to be another manifestation of a crucial facet of investing over the past decade: there is too much capital chasing too little genuine economic growth.” Bitcoin was trading around $37,500 as of publication time. Read more: BofA Says Bitcoin Trades More as RIsk Asset, Less as Inflation Hedge || Janet Yellen, Sounding More Constructive, Acknowledges Crypto's Role in Finance: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. U.S. Treasury Secretary Janet Yellen acknowledged crypto’s growing role in American finance during an interview Friday, and said she will work towards creating a regulatory environment conducive towards continued innovation. “There have been benefits from crypto and we recognize that innovation in the payment system can be a healthy thing,” she told CNBC . “We would like to come out eventually with recommendations that will create a regulatory environment [for] innovation." Yellen was known for being an outspoken critic of bitcoin (BTC) and the broader cryptocurrency space during her time as Federal Reserve chair, and then as a private citizen when she stated, in 2018, she was " not a fan " of bitcoin. Now that she is Treasury secretary, Yellen said she now has only “a little bit of skepticism,” noting concerns about financial stability, consumer investor protection and crypto’s use for illicit transactions. Yellen’s more constructive comments follow the Biden Administration’s executive order earlier this month calling for a “whole-of-government” approach to regulating crypto, which acknowledged the need to promote the important innovation that might come from the sector. "Crypto has obviously grown by leaps and bounds," she told CNBC, "and it's now playing a significant role … in [the] investment decisions of lots of Americans.” || Dow tumbles 482 points as US and allies announce sanctions after Russia sends troops to Ukraine: • The Dow Jones Industrial Average led US stocks lower on Tuesday as the Russia-Ukraine crisis escalated.
• Russian troops have entered breakaway territories that Moscow recognized as independent.
• President Joe Biden announced sanctions against Moscow, targeting Russian banks and individuals.
The Dow Jones Industrial Average led US stocks lower on Tuesday as the escalating Russia-Ukraine crisis triggered new sanctions on Moscow.
Russian troops have entered breakaway territories that President Vladimir Putin recognized as independent on Monday. In response, President Joe Biden unveiled sanctions on Russian banks, its sovereign debt and elite individuals, warning more would come if the aggression continues. He also authorized the movement of more US troops to NATO allies in Eastern Europe.
Earlier, Germany halted the Nord Stream 2 pipeline that carries Russian natural gas into Western Europe. The United Kingdom unveiled its first round of sanctions, and the European Union announced plans for its own sanctions.
Here's where US indexes stood as the market closed at 4 p.m. on Tuesday:
• S&P 500: 4,304.75, down 1.01%
• Dow Jones Industrial Average: 33,596.61, down 1.42% (482.57 points)
• Nasdaq Composite: 13,381.52, down 1.23%
The S&P 500 could tumble another 6%from its Monday level if there is outright conflict in Ukraine and Western governments impose punitive sanctions on Russia, Goldman Sachs warned.
But billionaireMark Cuban downplayedthe chances of Russia's escalating crisis with Ukraine driving investors out of financial markets in the long term, saying they don't have much of an alternative if they want good returns.
And JPMorgan told investors to ignore the dire outlooks and insteadprepare for a risk-on rallyin stocks this spring, according to a Monday note.
Elsewhere in the market,Digital World Acquisition Corp., the blank-check company that plans to merge with Truth Social,surged after the social-media app launched on Monday.
Oil prices roseon fears that the Russia-Ukraine conflict will disrupt energy shipments.West Texas Intermediate crudeclimbed 1.3% to $92.27 per barrel.Brent crude,the international benchmark, rallied 1.3% to $96.66.
Goldedged up 0.1% to $1,902.20 per ounce. The10-year yieldwas flat at 1.93%.
Bitcoinslipped 0.9% to $37,814.
Read the original article onBusiness Insider || HIVE Blockchain Provides January 2022 Production Update: This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated February 2, 2021 to its amended and restated short form base shelf prospectus dated January 4, 2022. Vancouver, British Columbia--(Newsfile Corp. - February 4, 2022) - HIVE Blockchain Technologies Ltd. (TSXV: HIVE) (Nasdaq: HIVE) (FSE: HBF) (the "Company" or "HIVE") is pleased to announce the production figures from the Company's global Bitcoin and Ethereum mining operations for the month of January 2022, with a BTC HODL balance of 2,043 Bitcoin and 25,404 Ethereum as of January 31, 2022. January 2022 Production Figures HIVE is pleased to announce its January 2022 production figures and mining capacity: 264 BTC Produced 1.87 Exahash of Bitcoin mining capacity 2,170 ETH Equivalent Produced 4.56 Terahash of Ethereum mining capacity Frank Holmes, Executive Chairman of HIVE stated "We are again pleased that HIVE carries on with its strong momentum in expanding Bitcoin hashing power even as the network difficulty continues its upward movement. In January we produced an average of 8.5 BTC per day, and we are pleased to note that as of today, we are producing approximately 8.9 BTC a day. Our Bitcoin hashing power increased in January and at the calendar month-end our hashrate was 1.87 Exahash, which translated into a 10% increase in BTC mining hashrate on a month over month basis, while BTC prices corrected." Aydin Kilic, President & COO of HIVE noted "We continue to strive for operational excellence, ensuring that as we scale our hashrate we also optimize our uptime, to ensure ideal Bitcoin and Ethereum output figures. Mr. Kilic continued, "We also would like to provide an update on the BTC and ETH equivalency, where one can equate the value of the coins produced daily. As such the ETH that HIVE produced during the month of January, equated on a daily basis, is approximately equal to a monthly total of 161 BTC, which we refer to as Bitcoin equivalent or BTC equivalent. This is in addition to the 264 BTC produced from our Bitcoin mining operations during January, for a total of 425 Bitcoin equivalent." The Company's total Bitcoin equivalent production in January 2022 was: 425 BTC Equivalent Produced 13.7 BTC Equivalent produced per day on average 2.9 Exahash of BTC Equivalent Hashrate (BTC hashrate plus equivalent ETH Hashrate) Network Mining Difficulty and Energy Markets The Bitcoin network difficulty increased as much as 10% and similarly the Ethereum network difficulty increased approximately 7.5% during the month of January. These factors impact our gross profit margins. Our January production would have been higher than actuals, however the extremely cold weather in Canada has caused Quebec Hydro to cut back 100 hours of energy consumption, under a curtailment agreement. This seasonal curtailment affects numerous crypto-mining companies operating in Quebec, along with HIVE. In addition, in New Brunswick we are experiencing, as expected, a temporary seasonal rise in energy prices. We are happy we have continued to expand our facilities and new equipment has arrived during the month to increase our PH to 1.87 Exahash for BTC mining. Story continues About HIVE Blockchain Technologies Ltd. HIVE Blockchain Technologies Ltd. went public in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy. HIVE is a growth-oriented technology stock in the emergent blockchain industry. As a company whose shares trade on a major stock exchange, we are building a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data centre facilities in Canada, Sweden, and Iceland, where we source only green energy to mine on the cloud and HODL both Ethereum and Bitcoin. Since the beginning of 2021, HIVE has held in secure storage the majority of its ETH and BTC coin mining rewards. Our shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of cryptocurrencies such as ETH and BTC. Because HIVE also owns hard assets such as data centers and advanced multi-use servers, we believe our shares offer investors an attractive way to gain exposure to the cryptocurrency space. We encourage you to visit HIVE's YouTube channel here to learn more about HIVE. For more information and to register to HIVE's mailing list, please visit www.HIVEblockchain.com . Follow @HIVEblockchain on Twitter and subscribe to HIVE's YouTube channel . On Behalf of HIVE Blockchain Technologies Ltd. "Frank Holmes" Executive Chairman For further information please contact: Frank Holmes Tel: (604) 664-1078 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Forward-Looking Information Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes, but is not limited to, business goals and objectives of the Company; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the volatility of the digital currency market; the Company's ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company's operations; the volatility of digital currency prices; continued effects of the COVID-19 pandemic may have a material adverse effect on the Company's performance as supply chains are disrupted and prevent the Company from carrying out its expansion plans or operating its assets; and other related risks as more fully set out in the registration statement of Company and other documents disclosed under the Company's filings at www.sec.gov/EDGAR and www.sedar.com . The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's objectives, goals or future plans, the timing thereof and related matters. The Company has also assumed that no significant events occur outside of the Company's normal course of business. 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. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/112783 View comments || U.S Inflation, the NASDAQ 100, and Regulators to Guide Bitcoin (BTC): It was a bullish week ending 6thFebruary for Bitcoin (BTC). Partially reversing a 15.73% slide from the week prior, Bitcoin rallied by 11.86% to end the week at $42,412.
Last week, the crytpo market put aside concerns over increased regulatory scrutiny and the imminent release of an Executive Order from the White House on cryptos. Last week, wereportedon the Biden administration affirming the imminent release of an Executive Order tasking agencies with the regulation of cryptos as a matter of national security. Agencies will work with regulators around the world to form a regulatory framework, not just for cryptocurrencies, but also for stablecoins andNFTs.
Delivering support in the week was the NASDAQ 100, which rose by 2.38%. A tech stock rout had weighed heavily on the NASDAQ 100 and Bitcoin ahead of key corporate earnings delivering support.
While economic data from the U.S is on the lighter side this week, a number of key stats will need considering. On Thursday, U.S inflation figures for January and weekly jobless claims figures will be key. With crypto market sensitivity to the FED reflected inBitcoin price actionthrough the early part of this year, another spike in U.S inflation could bring support levels into play. NASDAQ 100 movements will likely be a guide for Bitcoin and the broader market.
On the regulatory front, the markets will also be looking for any news updates on the executive order. There’s also the ongoingSEC vs Ripple(XRP) case to consider, and chatter from regulators in other key crypto jurisdictions.
At the time of writing, Bitcoin was up by 0.57% to $42,653. A mixed start to the week saw Bitcoin fall to an early Monday low $41,700 before rising to a high $43,059.
For the week ahead, Bitcoin would need to avoid the week’s $40,473 pivot to support a run at the 38.2% FIB of $44,144 and the first major resistance level at $44,678. Bitcoin would need plenty of support, however, to breakout from the 38.2% FIB.
In the event of an extended rally, the second major resistance level at $46,944 will likely come into play.
A fall through the week’s $40,473 pivot, however, would bring the first major support level at $38,207 into play. Barring an extended sell-off, Bitcoin should avoid sub-$35,000 levels and the second major support level at $34,000.
Looking at the EMAs and daily candlesticks, the signal remains bearish. The 50-day EMA has flattened on the 100-day and 200-day EMAs, however. A narrowing of the 50 on the 100 would provide support in the week.
Through Monday morning, Bitcoin moved through the 50-day EMA, currently at $42,674. A breakout from the first major resistance level at $44,678 would bring the 100-day EMA, currently at $45,991 into play. Holding within range of the 50-day EMA will be key in the early part of the week.
Thisarticlewas originally posted on FX Empire
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• It was another bullish session for DOGE and SHIB on Thursday.
• Continued market reaction to DOGE’s inclusion in Bitcoin ATMs delivered another DOGE breakout day.
• Key technical indicators are bullish, with DOGE and SHIB breaking out from their 200-day EMAs.
It was a bullish day forDOGEandSHIBon Thursday. Bullish sentiment across the broadercryptomarket delivered support.
Following a 6.04% rally on Wednesday, DOGE rose by 5.31% to end the day at $0.1368. SHIB followed a 3.96% gain on Wednesday, with a 1.48% rise to end the day at $0.00002475.
Elsewhere,SOLled the way, rallying by 7.90%.
ADA(+2.08%),AVAX(+1.72%),BNB(+1.42%),ETH(+2.42%), andXRP(+0.59%) trailed the front runners, whileLUNAfell by 1.58%.
On Thursday, broader investor appetite for cryptos delivered support to DOGE and SHIB.
For Dogecoin,newsof Bitcoin of America adding Dogecoin to its Bitcoin ATMs (BTMs) continued to provide support.
BTMs are not only cash dispensers but also support the buying of crypto with fiat and the selling of crypto for fiat.
At the time of writing, DOGE was down 1.17% to $0.1352.
DOGE will need to move through the day’s $0.1353pivotto make a run on the First Major Resistance Level at $0.1427. DOGE would need the broader crypto market to support a breakout from Thursday’s high of $0.1412.
An extended rally would test the Second Major Resistance Level at $0.1487 and resistance at $0.15. The Third Major Resistance Level sits at $0.1621.
Failure to move through the pivot would test the First Major Support Level at $0.1293. Barring an extended sell-off, DOGE should steer clear of sub-$0.1250 levels. The Second Major Support Level sits at $0.1219.
Looking at theEMAsand the 4-hourly candlestick chart (below), it is a bullish signal. DOGE sits above the 200-day EMA, currently at $0.1261. The 50-day EMA narrowed to the 200-day EMA. The 100-day EMA also closed in on the 200-day EMA; DOGE positive.
Holding above the 200-day EMA would support a run at $0.15.
At the time of writing, SHIB was down by 1.05% to $0.00002442.
SHIB will need to avoid the day’s $0.0000247pivotto make a run on the First Major Resistance Level at $0.0000253. SHIB would need the broader crypto market to move through Thursday’s high of $0.00002524.
An extended rally would test the Second Major Resistance Level at $0.0000258 and resistance at $0.0000260. The Third Major Resistance Level sits at $0.0000270.
Failure to move through the pivot would bring the First Major Support Level at $0.0000242 into play. Barring an extended sell-off, SHIB should steer clear of sub-$0.000024 levels. The Second Major Support Level sits at $0.0000236.
Looking at theEMAsand the 4-hourly candlestick chart (below), it is a bullish signal. SHIB sits above the 200-day EMA at $0.0000240. This morning, the 50-day EMA narrowed to the 200-day EMA. The 100-day EMA also closed in on the 200-day EMA.
A bullish cross of the 50-day EMA through the 200-day EMA would bring $0.000026 levels into play.
Thisarticlewas originally posted on FX Empire
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• Why Alibaba Stock Is Down By 5% Today || Where Will Algorand’s Ties with Amazon Web Services Take ALGO?: Recently, amid the global crypto market’s choppy price action, cloud solutions provider Guardrail announced the availability of the Algorand Blockchain on Amazon Web Services (AWS). This strategic move could push the narrative for the 29th ranked coin by market cap, but for now, price implications as the global crypto market consolidates aren’t visible. Boosting the Algorand Blockchain The release of the Algorand Blockchain on the AWS marketplace will allow users to deploy and operate nodes securely. Algorand arrived on AWS through Guardrails, a clouds solution provider that drives rapid cloud adoption in Small & Medium Business Enterprises (MSME). . @GuardrailMe announces the general availability of the @Algorand #Blockchain on the AWS Marketplace. The release enables single-command, self-deployments of Algorand's entire node infrastructure on AWS. #ShapeTheFuture #GreenCrypto Learn More at 👉 https://t.co/HV1DVa2WqK pic.twitter.com/gVxxtipkWC — Algorand Foundation (@AlgoFoundation) February 21, 2022 The release marks the deployment of Algorand’s nodes on the AWS network. Notably, up to 1,000 Algorand nodes can be operated across 24 regions within 30 minutes with its arrival on AWS. That said, Guardrail is set to boost the capacity of the Algorand blockchain for building applications in its network by acting as an alternative to API aggregators. Story continues Furthermore, Algorand’s ecosystem continues to grow at a decent pace. Notably, the platform’s Algofi DEX also went live today, which is called the DeFi Hub of Algorand. The blockchain’s trajectory in the NFT space has also been adequate, and recently, Vesta Equity launched a real estate-backed NFT platform on Algorand. While the platform seemed to progress on the ecosystem front, its price action was largely bearish, much like the top coins such as Cardano , XRP , and even Ethereum . ALGO Price Still Down Bitcoin’s volatile move over the last week has caused the global market cap to dip down to the $1.70 Trillion mark at press time. Alongside Bitcoin and Ethereum, most of the large-cap and mid-cap altcoins, too, were making lower price lows. At press time, Algorand traded at $0.8014, noting 3.26% daily and 15.03% weekly losses. ALGO was currently sitting at the six-month low price level, down 75.33% from its all-time high price. While ALGO trading at this low price level gives massive upside to the traders and investors in the mid-short term, it is to be noted that further downside could push the altcoin to the $0.65 level, which currently serves as the next significant support. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Continues to Show Resistance Malaysia Records All-Time High in Illegal Crypto Mining in 2021 British Pound Recovers Against Yen After Initial Selloff An Ontario Regulator Reported Kraken and Coinbase CEO’s Comments USD/CAD Lacks Momentum As Traders Wait For Additional Catalysts Why Krispy Kreme Stock Is Up By 9% Today || Latest Bitcoin price and analysis (BTC to USD): Bitcoin is currently at a crucial point of resistance following an impressive start to the month that saw it surge to the $45,000 level. The world’s largest cryptocurrency is trading at $43,300, an important level of support in itself. If it can rally up towards $45,000 before stock markets close on Friday evening, it would pave the way for a breakout and continuation to the upside over the coming weeks. Eventual targets remain at $53,000 and $56,000 – however Bitcoin would need to avoid placing itself in a bull trap scenario. Bitcoin BTCUSD chart by TradingView If volume, and subsequently price action, begins to subside this month with a slump back below $41,000 – it would signal that this move was a run to liquidate short positions before it heads lower. On higher time frames Bitcoin remains in a downtrend from $69,000, a swift break of $53,000 is the only thing that would confirm a bullish reversal. In the short term Bitcoin needs to hold $43,000 and begin to establish a stronger level of support, although it’s worth noting that price action is currently being driven to the crisis in Ukraine and a potential hike of interest rates by the Federal Reserve. To purchase Bitcoin, Ethereum , Litecoin or USDC, sign up to Coin Rivet’s cryptocurrency broker here. Bitcoin pricing Current live BTC 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 BTC. To date, no one knows who this person, or people, are. Story continues The paper outlined a method of using a P2P network for electronic transactions without “relying on trust”. On January 3 2009, the BTC network came into existence. Nakamoto mined block number “0” (or the “genesis block”), which had a reward of 50 Bitcoins. More BTC 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. || Fed Chair Powell hinted at a mega–rate hike. The markets are banking on more than one: With inflation and growth concerns swirling over the markets, Jerome Powelldropped a tantalizing clueon Monday about how the Federal Reserve will approach its next rate-setting meeting in May.
To have spotted the sign, you’d have to be a top-notch Fed-jargon parser.
In a speech yesterday, Powell added a new adverb—“expeditiously”—to his vocabulary about just how aggressively the central bank could hike rates this year. He also signaled being open to a 50-basis–point rate hike, all but closing the door on a 13-year stretch of loose monetary policy and rock-bottom lending rates.
Wall Street pounced on the Powell speech, with a series of new bets that the Fed will be even more hawkish than previously thought.
“Our best guess is that the shift in wording from ‘steadily’ in January to ‘expeditiously’ today is a signal that a 50bp rate hike is coming,”Goldman Sachschief economist Jan Hatzius wrote in an investor note. “We now forecast 50bp hikes at both the May and June meetings, followed by 25bp hikes at the four remaining meetings in the back half of 2022, and three quarterly hikes in 2023 Q1–Q3.”
Add that up, and the benchmark Federal funds interest rate could move above 3% in 18 months’ time—not great news for aspiring homebuyers or people who have variable-rate mortgages.
The Fed’s aggressive ramp-up in rates is looking like nothing we’ve seen in recent years, noted Jim Reid,Deutsche Bankglobal head of thematic research, a sign the central bank feels it’s behind the curve in keeping inflation—running ata 40-year-high—in check.
“It’s increasingly dawning on investors that this is going to be a very different hiking cycle from its predecessor back in 2015, and yesterday Fed funds futures moved to price in more than 200bps worth of hikes for 2022 for the first time (including the 25bps we saw last week),” Reid wrote on Tuesday.
Following the Powell speech, the yield on the 10-year Treasury note jumped 14 basis points on Monday, and equities sank in afternoon trading. U.S. futures are doing a bit better on Tuesday, with the S&P up 0.4% at 5 a.m. ET.
European bourses were in the green at the open as well, as most risk assets were rebounding. Crypto prices, for example, were gaining with Bitcoin up to $42,500, an increase of more than 3% in the past 24 hours.
Investors are taking heart that the closely watched spread between short- and long-term bonds—measured as the difference between the yield on a two-year Treasury note and that of a 10-year Treasury note—has been widening in recent weeks, a sign that Wall Street sees the chance of a recession is on the wane.
This story was originally featured onFortune.com || Bitcoin cae por debajo de línea de tendencia bajista, con soporte en $35.500: Bitcoin no logró penetrar la resistencia técnica crítica a principios de esta semana y ahora se encuentra frente a un nivel de soporte de $35.500.
Read this article inEnglish.
Los precios cayeron un 4,6% el miércoles después de que los compradores no consiguieran atravesar la línea de tendencia que conecta los máximos alcanzados en noviembre y enero.
La criptomoneda más importante era negociada cerca de los $36.400 al cierre de esta edición, lo que representa una caída del 1,3% en el día.
El descenso de bitcoin y las lecturas del gráfico diario y el de cuatro horas del RSI —índice de fuerza relativa— indican el fin del rebote correctivo y la reanudación de una tendencia bajista más amplia.
El soporte se encuentra en $35.500 —la línea horizontal en el gráfico de cuatro horas— seguido por el siguiente nivel de soporte, de $32.933, el mínimo alcanzado el 24 de enero.
Se necesita un cierre convincente por encima de la línea de tendencia bajista de 2,5 meses para invalidar el sesgo bajista inmediato.
[Random Sample of Social Media Buzz (last 60 days)]
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Trend: down || Prices: 46622.68, 45555.99, 43206.74, 43503.85, 42287.66, 42782.14, 42207.67, 39521.90, 40127.18, 41166.73
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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)]
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 || 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 to www.minerscenter.com reveals 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 || Pot Resort To Open Fully Booked On New Year's Eve: In September, the Santee Sioux tribe of South Dakota announced that it was embracing new laws that allow Native American Tribes to sell and consume marijuana on their reservations by opening a marijuana-themed resort. The tribe outlined plans to create the ultimate "adult playground" where people could come to relax and enjoy marijuana in public spaces without fear of being prosecuted.
Now, the Tribe's lawyers say thatreservationsfor the resort's opening night are flying in, and that the establishment will likely open its doors for the first time to a sold out weekend.
See Also:Relax And Get High
New Year's Eve Opening
The marijuana resort is slated to open on New Year's Eve, providing the perfect atmosphere for partygoers who are interested in making cannabis a part of their 2016 celebrations. The venue will feature dance clubs and a dedicated smoking lounge where around 30 different strains of cannabis will be on offer. The tribe's attorney Seth Pearmansaidthe resort has already booked in rooms for 100 people as interest continues to grow.
Tribal Revenue
Much like casinos, many Native American tribes are hoping to bring in revenue from marijuana sales as laws allow them to sell and use the drug even if the state they reside in has classed it as illegal. For the Santee Sioux tribe, that has opened the door for a revolutionary idea to create the world's first cannabis resort. However, the venture comes with its own risks as the marijuana industry is still under the microscope.
For one, the tribe will have to ensure that marijuana isn't taken off the reservation and that visitors aren't buying too much of the stuff. However, for the tribe, which has struggled to stay afloat financially, the estimated $2 million per month the resort is forecast to bring in is well worth it.
See more from Benzinga
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 10 things you need to know today: man on pig (https://pictures.reuters.com/C.aspx?VP3=SearchResult Farmer Zhang Xianping with pig Big Precious during an interview with the media in Zhangjiakou, Hebei province, China. Here is what you need to know. Volkswagen has another emissions scandal . The German automaker announced that an internal investigation had discovered "irregularities in CO2 levels" in as many as 800,000 vehicles. It is unclear whether the irregularities are related to the recently discovered emissions scandal related to nitrogen-oxide testing. " Under the ongoing review of all processes and workflows in connection with diesel engines it was established that the CO2 levels and thus the fuel consumption figures for some models were set too low during the CO2 certification process," Volkswagen said in a statement. "The majority of the vehicles concerned have diesel engines." Tesla is flying high after its latest outlook . Shares of Tesla were up 10% in after-hours trade after the company announced it expected to deliver 17,000 to 19,000 vehicles in the fourth quarter, outpacing the Wall Street consensus. For all of 2015, Tesla said it would deliver 50,000 to 52,000 vehicles, narrowing its range from its previous estimate of 50,000 to 55,000. On the earnings front, the electric-car maker lost $0.58 per share, which was slightly worse than the $0.56 loss that was anticipated. Revenue jumped 33.4% to $1.24 billion, in line with estimates. US auto sales are at the highest level in a decade . The latest Autodata showed US auto sales rose at an annualized pace of 18.24 million in October, the best in a decade. The number easily surpassed the Wall Street consensus of 17.7 million vehicles . Mazda (+35.4%) saw the biggest gains, while General Motors (+16%) and Ford (+13%) posted solid results. BMW USA (-6.6%) was the lone decliner. Honda is dumping Takata airbags . The AFP reports that Takata's largest client, Honda, has severed its relationship with the company after US authorities announced a $200 million fine against the airbag maker. Takata airbags have been linked to eight deaths and even more injuries around the world. "On a global basis, no new Honda and Acura models currently under development will be equipped with a front driver or passenger Takata airbag inflator," Honda said in a statement. Shares of Takata were down as much as 20% in Tokyo. Story continues Iceland raised rates . Iceland's central bank raised its benchmark interest rate 25 basis points to 5.75%. The central bank noted that domestic demand was expected to increase by more than 7% this year and that gross domestic product was forecast to grow at 4.6%. As for inflation, the central bank said: "It is still expected that large pay increases will cause inflation to rise above the target as 2016 progresses and the effects of low global inflation taper off. Inflation will not return to target until 2018." The Icelandic krona is weaker by 0.2% at 128.90 per dollar. European services data was strong . October Services PMI for the eurozone was released, and it showed that every country outpaced expectations except for Germany. Spain saw the biggest month-over-month increase, as its reading climbed from 54.6 in September to 55.9 in October and easily beat the 54.6 that was expected. Germany's number ticked up to 54.5 from 54.1 but missed the 55.2 that economists were expecting. The eurozone as a whole improved to 54.1 from 53.7. The euro is down 0.3% at 1.0935. Bitcoin has gone parabolic . On Tuesday, bitcoin rallied 10% to close just shy of the $400 mark. On Wednesday morning, bitcoin is up another 15% near $454. The digital currency has surged 89% since the beginning of October. Stock markets around the world are higher. China's Shanghai Composite (+4.3%) surged after the People's Bank of China released some dated comments from governor Zhou Xiaochuan. In Europe, Spain's IBEX (+1.2%) leads the gains. S&P 500 futures are higher by 2.75 points at 2,105.75. US economic data is moderate. ADP Employment Change is due out at 8:15 a.m. ET before the trade balance crosses the wires at 8:30 a.m. ET and ISM Services is released at 10 a.m. ET. Crude-oil inventories will be announced at 10:30 a.m. ET. The US 10-year yield is down 1 basis point at 2.20%. Earnings reporting remains heavy. 21st Century Fox, Allergan, CDW, Honda Motor, Michael Kors, and Time Warner highlight the names scheduled to release their quarterly results ahead of the opening bell. Facebook, Marathon Oil, MetLife, Prudential, Qualcomm, Sturm Ruger, and Whole Foods are among the companies reporting after markets close. NOW WATCH: Here's the Bill Cosby joke Eddie Murphy did at the Kennedy Center that everyone's talking about More From Business Insider 10 things you need to know today 10 things you need to know today 10 things you need to know today || 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. || 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 || 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 || Bitcoin is off to the races again: (REUTERS/Bogdan Cristel)Rotariu uses Romania's first bitcoin ATM in downtown Bucharest
The value of bitcoin has rocketed higher since late August, gaining more than 60% as investors around the worldclamor to buy into the cryptocurrency.
It recently hit new highs for the year.
Long-term bitcoin watchers have seen this happen before, and they know that bitcoin rallies can be huge.
The last time bitcoin's value began soaring the cryptocurrency went from below $200 in September 2013 to more than $1100 by early 2014.
Right now – after the recent gains – bitcoin is trading at around $380. That's right, after that peak last year, bitcoin crashed – badly damaging investor interest. It took more than a year for that interest to return.
So what's bringing people back? The digital currency is gaining traction both in the consumer marketplace, as a tradeable security, and with regulators. To illustrate - you can donate to theAmerican Red Crossin bitcoin, buy a new personal computer with it, or even book a holiday.
It isn't just digital-currency enthusiasts that are bullish. Equity research firm Wedbush expects it to rise to $600 because of the growing adoption. That target includes a "high discount rate to account for uncertainty," the firm says in a Nov. 4 research note. In other words, there is a lot of risk here, but even factoring that in, the potential exists for a big gain.
“We’re crossing the chasm from early enthusiasts to mainstream adoption," says Adam White, a vice president of business development with bitcoin exchange Coinbase.
(Wedbush Securities)Payments with bitcoin have been on the rise — as has the value of bitcoin, as an investment.
As more people use bitcoin, retailers have become increasingly welcoming of it.
Companies including Dish, Microsoft, Dell and Expedia are accepting cryptocurrency as payment.
Perhaps most crucial: payments startups and legacy players including Square, Stripe, and PayPal are integrating it into their offerings.
Regulators in the US and internationally are embracing bitcoin now, instead of fearing — or, worse still, thwarting — it.
"What there needs to be is greater regulatory clarity," said Jerry Brito, executive director at Washington-based advocacy group Coin Center. "It's a very different world than it was in 2013."
Bitcoin legislation is being readied in several US states, Brito said.
In October, a consortium of startupsannounced the establishmentof theBlockchain Alliance, a partnership between bitcoin companies and US and foreign agencies including the Department of Justice, FBI and the Commodity Futures Trading Commission, among others.
Last month, theEuropean Court of Justice said bitcoin transactions will be exemptedfrom a consumer tax, which could lead to even greater use of the cryptocurrency.
Another big step, yet to come, would be the declaration of bitcoin by US regulators as a security.
Another factor lending greater legitimacy to bitcoin is the investment capital being poured into related startups.
Recently, the total dollar volume backing startups in the sectorcrossed the $1 billion threshold. But the investors behind the money have also increased bitcoin's visibility.
The roster of bitcoin startup backersincludes Wall Street investment banks; the New York Stock Exchange and NASDAQ; andleading credit and debit card companiesincluding Visa, MasterCard and Capital One.
"The global banks and wire-houses have meaningfully gotten involved in the space," said Michael Sonnenshein, director of business development and sales at Grayscale Investments,which manages the Bitcoin Investment Trust, a publicly listed vehicle that tracks bitcoin. "In 2013, they were beginning to dip their toe, but primarily behind closed doors and within internal working groups."
There are still lingering issues surrounding bitcoin's validity.
To be sure, it is volatile and – because its loosely regulated – a draw for frauds and criminals.
Some big names in the crytptocurrency community — perhaps most notably Blythe Masters, the CEO of Digital Asset Holdings — have been critical of bitcoin and say the underpinning blockchain technology is actually what's most sexy to Wall Street.
But right now, to many investors, bitcoin is hot. And it could stay that way.
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• The Winklevoss twins tell us why they believe Bitcoin will come to dominate global finance || 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.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Jamie Dimon thinks bitcoin is doomed—but here’s what he does like about it: Jamie Dimon doesn't think highly of this whole bitcoin thing. Bitcoin might be the hottest topic in financial technology, but Jamie Dimon isn’t impressed. “It’s just not going to happen…there is no government that is going to put up with it for long,” the CEO of JPMorgan Chase said about virtual currency at the Fortune Global Forum yesterday (Nov. 4), adding: “It’s kind of cute now, a lot of senators and congressmen will say ‘I support Silicon Valley innovation,’ But there will be no currency that gets around government controls.” ExxonMobil faces a New York investigation into whether it hid the risks of climate change The “blockchain” technology that makes bitcoin possible, on the other hand, could be a potential game changer, Dimon admitted. JPMorgan and 22 other major banks have recently partnered with R3, a blockchain startup, to study blockchain technology and possibility of idea of a shared, private ledger. Blockchain is essentially a shared database where people can exchange information—as well as virtual currencies like bitcoin, stock certificates, contract agreements, and even securities. For something like sending money across borders, using blockchain technology can make the process much faster and cheaper. “If it is cheaper, effective, works, and secure, then we are going to use it,” said Dimon. The IRS and the Commodities Futures Trading Commission (CFTC) both consider bitcoin a commodity , instead of a currency—essentially a piece of property you pay taxes on. Yet, more recently, government agencies outside the US have been more receptive of bitcoin as a currency, and not taxable. Sign up for the Quartz Daily Brief , our free daily newsletter with the world’s most important and interesting news. More stories from Quartz: A nuclear war between India and Pakistan is a very real possibility Explore the complicated network of allies and enemies in Syria’s civil war
[Random Sample of Social Media Buzz (last 60 days)]
★MONA/JPY
0~20【もなっくす】
11.2~11.5【Zaif】
★MONA/BTC
0.00027~0.00037【AllCoin】
0.00036~0.00046【もなとれ】
0.00038~0.00039【bittrex】
00:30現在 || #RDD / #BTC on the exchanges: Cryptsy: Error Bittrex: 0.00000003 Average $1.1E-5 per #reddcoin 09:00:01 via #priceo…pic.twitter.com/K7rJfYQ3vY || #Anoncoin/#ANC price now: $ 0.117506, that's 0.46 % change in 1hour. 3.00 % past day, and 5.39 % in the past week! #Bitcoin is $ 302.39 || #RDD / #BTC on the exchanges: Cryptsy: Error Bittrex: 0.00000003 Average $9.0E-6 per #reddcoin 07:00:01 via #priceo…pic.twitter.com/HtXgNhc8OH || Current price: 324.97$ $BTCUSD $btc #bitcoin 2015-10-31 00:20:02 EDT || 1 #bitcoin = $5915.00 MXN | $354.54 USD #BitAPeso 1 USD = 16.68MXN http://www.bitapeso.com || $338.59 #bitfinex;
$337.81 #coinbase;
$337.21 #bitstamp;
$319.00 #btce;
#bitcoin #btc || #Bitcoin last trade
@bleutrade $247.00
@btcecom $228.18
@cryptsy $233.99
Set #crypto #price #alerts at http://AlertCo.in || 1 #bitcoin 710.99 TL, 235.326 $, 207.200 €, GBP, 15770.00 RUR, 28800 ¥, CNH, 316.13 CAD #btc || $334.14 at 10:15 UTC [24h Range: $325.00 - $340.00 Volume: 23756 BTC]
|
Trend: no change || Prices: 320.17, 330.75, 335.09, 334.59, 326.15, 322.02, 326.93, 324.54, 323.05, 320.05
|
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 2017-06-22]
BTC Price: 2705.41, BTC RSI: 57.80
Gold Price: 1247.60, Gold RSI: 44.06
Oil Price: 42.74, Oil RSI: 28.87
[Random Sample of News (last 60 days)]
The controversial 'fiduciary rule' is a problem for T. Rowe Price; sell the stock, UBS says: UBS lowered its rating for T. Rowe Price (NASDAQ: TROW) to sell from buy, predicting the government's fiduciary and fee transparency rules will hurt its earnings results next year. "While TROW is negatively impacted by the DOL [Department of Labor] fiduciary rule, we view the 2010 DOL rule that increased transparency into 401(k) fees as the underappreciated threat," analyst Brennan Hawken wrote in a note to clients Wednesday. "TROW has a solid domestic franchise with strong investment performance but we see these positives as more than offset by the overhang from the DOL rule, headwinds from corporate 401k lawsuits, and shift towards passive." The new fiduciary rule, which requires advisors to act in the best interests of clients, will take effect next month, but then may later be amended. Hawken lowered his price target for T. Rowe Price to $61 from $77, representing 14 percent downside from Tuesday's close. The analyst cited how outflows from the company's target date retirement funds (TDF), which represent 24 percent of the firm's asset under management, are "just beginning." He estimated T. Rowe Price lost more than $2 billion of assets in TDF funds during April. As a result, Hawken lowered his 2018 earnings-per-share estimate for T. Rowe Price to $4.75 from $5.15 compared with the $5.16 Wall Street consensus. "Lawsuits stemming from the 2010 DOL rule that increased transparency into 401(k) fees have accelerated in recent years and now there are signs that the trial bar is widening its targets to include smaller plans, which comprise the core of TROW's retirement offering," he wrote. — CNBC's Michael Bloom contributed to this story. More From CNBC Bitcoin surges to record above $2,400, bringing 2017 gain to nearly 150% The race to $1,000 – Alphabet and Amazon hit new record highs Weak tourism sales spell trouble for Tiffany; shares sink 8% || Hertz shares plunge 18% after first-quarter loss nearly doubles Wall Street estimate: Hertz Global ( HTZ ) stock tumbled Tuesday, a day after the car rental company reported a bigger-than-expected earnings loss and revenue that fell below analysts' estimates. Lower rental prices and lower resale value for its used vehicles crimped the earnings report. Shares of the stock closed down more than 14 percent during Tuesday, as investors digested the weak quarterly report and lack of future guidance from management. After the bell on Monday the company reported a first quarter earnings loss, excluding items, of $1.61 per share on sales of $1.92 billion. The Street was anticipating Hertz to post a much smaller loss for the quarter of 91 cents on better sales of $1.94 billion, according to Thomson Reuters. The company's net loss from continuing operations widened to $223 million during the period, from just $52 million a year ago. Hertz also booked an impairment charge of $30 million in the quarter. Hertz will likely continue to struggle to get better resale values for its cars so long as U.S. used-car prices continue to fall, as more and more vehicles return to the market following their leases' end. Used cars and trucks price index Source: U.S. Bureau of Labor Statistics Hertz's vehicle sales volume was up 21 percent year over year, but the value is dropping. The company noted that net depreciation per vehicle was up by 15 percent. "We are placing significant emphasis on fleet quality, the customer experience, brand development and systems transformation," CEO Kathryn Marinello said, attributing the wider losses to increased investments being made in a "turnaround" effort. With the blessing of billionaire investor Carl Icahn , Hertz's biggest shareholder, Marinello recently replaced CEO John Tague. The company has performed more poorly than competitors because Hertz's fleet is particularly outdated with fewer SUVs. And competition is stiffer than ever in the age of Uber and Lyft. As of Tuesday's close, shares of Hertz have fallen more than 63 percent over the past 12 months and are down about 40 percent this year. Story continues HTZ 12-month performance Source: FactSet More From CNBC Apple's former CEO shares the one iPhone feature he'd like to see next Bitcoin spikes to fresh record after Fed's Kashkari speaks about blockchain Bet on 'repatriation stocks,' UBS says || Why Silver and Gold Look Shiny to Investors Right Now: With so much going on in the world these days, it's easy to overlook the developments in the precious metal markets. Even as governments continue to devalue currencies, central banks across the globe have been accumulating gold . I think investors should start considering a small allocation in precious metals as well. SEE ALSO: Should I Be Tempted to Invest in Bitcoin? I realize that probably doesn't sit well with many other advisers, who regard gold and silver as nothing more than shiny metal that sits in a vault, collecting dust and earning no interest or dividends. But investors, in general, need to protect themselves from these currency devaluations, which will likely lead to inflation in the future. Even if we are currently in a deflationary environment, central banks continue to pursue inflation. I think they will, at some point be successful in achieving this goal. As such, a small allocation to precious metals could protect the purchasing power of your savings and insure your overall wealth. How much you should invest in precious metals, of course, depends on your portfolio and other factors. A good baseline for any investor interested in maintaining a small allocation in precious metals would be to keep a 10-to-1 ratio in mind. For these investors, every $10 you have in bonds or annuities should be matched by $1 invested in precious metals. In the current global economic environment, precious metals look like a good short term-investment. Simply put, precious metals may be a good hedge for investors facing the myriad problems associated with the present economic environment, especially currency devaluation. A diversified portfolio of tangible assets such as gold or silver should equal about 5% (and sometimes more) of an investor's portfolio. That's a prudent asset-diversification strategy at any time. And in today's uncertain political and economic environment, there are many (and very sound) reasons to consider investing in precious metals to diversify your holdings. Story continues Keep in mind, precious metals are not like other asset allocations. For example, putting money in precious metals is very different than investing in the stock market. Even the word "investment" seems a bit out of place here. Gold doesn't pay dividends; gold doesn't pay interest. It's a metal that has historically been used as money. Throughout the world, gold continues to be recognized as money. As such, it offers long-term protection as our currency is devalued for investors looking to be able to maintain their lifestyles 10 to 15 years down the road. I think silver is an even better option than gold for investors looking to diversify. Right now, the silver-to-gold price ratio is fairly high. Historically, that ratio has been 16-to-1; meaning 16 ounces of silver are valued the same as 1 ounce of gold. Right now, the ratio is far higher: 65 to 70 ounces of silver have the same dollar value as every ounce of gold. If history repeats itself, we should see that 16-to-1 ratio of silver to gold return in the near future. As such, I see far more upside with silver than I do with gold. Allocating a portion of your assets in silver, at current prices, could offer investors and retirees one of the single best long-term investments available today. Along with gold, it is recognized as a store of value. What is not so well known is that, while gold has demonstrated a solid trend of price appreciation since 2001, more than quintupling in price, the price of silver has in the past outperformed gold. Precious metals have been a safe haven in times of war, political strife and uncertainty. With the potential for rising inflation and the continued devaluation of paper currency as likely possibilities, I think it's a good time to consider precious metals for your retirement portfolio. The safest way to do that may be to own the metal outright. You can also consider gold and silver mining company's such as Goldcorp (GG) , Barrick Gold (ABX) and Newmont Mining (NEM) to name a few. For silver, consider First Majestic (AG) , Silver Wheaton Corp. (SLW) and Pan American Silver Corp. (PAAS) . See Also: 3 Stocks That Will Benefit From an Aging America Kevin Derby contributed to this article. Investment Advisory Services offered through Brookstone Capital Management LLC an SEC Registered Investment Adviser. EDITOR'S PICKS My Top 10 DRIP Picks for Investors in 2017 A Watched Portfolio Never Performs A Will Can Be a Beautiful Thing Copyright 2017 The Kiplinger Washington Editors || Bitcoin nearly hits $3,000 before plunging: (Markets Insider)
Bitcoin's wild ride is continuing on Monday. The cryptocurrency climbed to a lifetime high of $2,999.97 a coin in overnight action, but it has seen a sharp drop from its highs. It's now trading down by $286, or 9.7%, at $2,666 a coin.
Monday's action comes without any real catalyst, as trade appears to be fueled bybuying in Asia. Recently, China's three largest bitcoin exchangeslifted their ban on clients' withdrawals. Additionally, Japan's government announced in early April that bitcoin had been approved as alegal payment methodin the country.
Bitcoin has gained 187% this year. Its meteoric rise has prompted tech billionaireMark Cuban to call it a "bubble."Last Tuesday, Cuban tweeted: "I think it's in a bubble. I just don't know when or how much it corrects. When everyone is bragging about how easy they are making $=bubble."
The market continues to await the US Securities and Exchange Commission's ruling on an exchange-traded fund started by the Winklevoss twins. Back in March,the SEC rejected that ETF along with another. It has since taken public comment on its decision regarding the Winklevoss twins' ETF, but it has not made an additional ruling.
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• Bitcoin soars to a new high || 10 things you need to know before the opening bell: Go player (Chinese Go player Ke Jie during his second match against Google's artificial-intelligence program AlphaGo at the Future of Go Summit in Wuzhen, in China’s Zhejiang province.Reuters/China Stringer Network) Here is what you need to know. Trump reportedly slammed German carmakers and threatened to stop their US sales . During a meeting with European officials, President Donald Trump said he would stop German automakers from selling "millions of cars" in the US and called Germans "very bad," Der Spiegel reports. The polls are tightening in the UK election . A YouGov poll published Thursday showed Prime Minister Theresa May's Conservative Party holding a 43%-to-38% lead over Jeremy Corbyn's Labour Party ahead of the June 8 election. The British pound is weaker by 0.5% at 1.2872 versus the dollar. Consumer prices in Japan are picking up . Prices rose by 0.4% year-over-year in March, making for the fastest growth since March 2015. Bitcoin is making a comeback. The cryptocurrency trades up by 4.5% at $2,577 a coin after falling to as low as $2,220 on Thursday. Costco same-store sales crush estimates . Sales at stores open at least one year rose by 5% excluding the impact of gasoline prices and foreign exchange, easily beating the 3.7% gain that was expected. GameStop's sales increased for the first time in 5 quarters . The world's largest video game retailer said sales rose by 21.5% in the first quarter, boosted by strong demand for the Nintendo Switch. But the GameStop shares fell by as much as 6% after the company left its guidance unchanged. Stock markets around the world are lower . Japan's Nikkei (-0.6%) lagged in Asia, and France's CAC (-0.8%) paces the losses in Europe. The S&P 500 is set to open little changed near 2,414. Earnings reporting is light. Big Lots reports ahead of the opening bell. US economic data is heavy. GDP Second Estimate, core PCE, and durable-goods orders will all be released at 8:30 a.m. ET before University of Michigan consumer confidence crosses the wires at 10 a.m. ET. The US 10-year yield is down by 2 basis points at 2.24%. Story continues US markets are closed Monday in observance of Memorial Day . Additionally, the US Treasury market will close at 2 p.m. ET on Friday. More From Business Insider Here's why the US would have to be insane to attack North Korea 9 must-have tech gadgets under $100 10 things you need to know today || How to Protect Yourself as Ransomware Attack Spreads Around the Globe: Consumer Reports has no relationship with any advertisers on this website. Hospitals and other healthcare providers across England were forced to cancel countless appointments and divert ambulances on Friday after a massive ransomware attack crippled their computer systems. In the hours that followed, the crisis spread to facilities in at dozens of other countries, according to news reports. FedEx was one of the big corporations affected by the attack, saying that "like many other companies, FedEx is experiencing interference with some of our Windows-based systems caused by malware. We are implementing remediation steps as quickly as possible. We regret any inconvenience to our customers.” Although this latest attack was massive in scope, ransomware threats often strike the personal computers of individual consumers, too. Here’s what you need to know and how to protect yourself. What Is Ransomware? Ransomware is a form of malware designed to steal money from individuals, businesses and other organizations by holding their data hostage. Imagine coming home to find a big padlock on your front door and a criminal standing next to it, demanding money to let you in. That's ransomware. Only instead of being locked out of your house, you're locked out of all your personal files. The next time you log on, your computer displays a ransom note saying your data has been encrypted, with instructions on how to pay to unlock it. Can Hackers Really Make Money Doing This? Oh, yes. Ransomware is big business. Ransoms can range from a few hundred to thousands of dollars and are usually paid in the "virtual" currency Bitcoin, which is nearly impossible to trace. In some cases, the longer you wait to pay, the higher the ransom becomes. According to cybersecurity firm Symantec's Internet Security Threat Report released in April, the number of new versions of ransomware uncovered during 2016 more than tripled to 101, while the number of ransomware infections the company spotted jumped 36 percent. Verizon's recently released 2017 Data Breach Investigations Report notes that ransomware accounted for 72 percent of the malware incidents involving the heathcare industry last year. Story continues Why Is This Particular Ransomware Attack Significant? Friday's attack affected at least 25 of the UK's National Health Service's hospitals and other organizations. But NHS says it was not the specific target of the attack. It does not appear that patient information was accessed, according to the organization, but its investigation into the matter is still in the early stages. Barts Health, which manages a handful of major hospitals in London and elsewhere, also confirmed it was experiencing a "major IT disruption." The malware arrived in encrypted files distributed by email. Once a computer was infected, the user received a note demanding $300 in bitcoin to restore access to patient information and other data on the device. British Prime Minister Theresa May called it an "international attack" affecting a "number of countries and organizations." CNN put the figure at 99 countries . Has This Ever Happened in the U.S.? Yes. One of the best known examples involved L.A.'s Hollywood Presbyterian Medical Center, which in February 2016 said it paid a ransom of $17,000 to get its computer systems unlocked. Because of the large amount of personal information collected about patients, hospitals and other healthcare providers are prime ransonware targets. If a doctor can't access information about a patient's medications and pre-exisiting conditions, it's virtually impossible to provide treatment, forcing the doctor and patient to reschedule appointments. And that can result in millions of dollars in lost productivity. So, even though medical computer systems are routinely backed up, and nearly all that data can be recovered and restored, hospitals often pay the ransom in an effort to speed things up and minimize financial losses. How Does Your Device Get Infected? Whether they involve a computer nework run by a business or hospital, or just an average person's personal PC, most ransomware infections happen when a user is lured by a bogus “phishing” email to a site that infects his or her computer, or by clicking on an attached file that secretly installs it. How Can You Avoid Having Your Data Taken Hostage? You avoid ransomware the same way you avoid any malware infection: By being careful. While that's not always easy, there are things you can do to steer clear of problems. Don’t casually click a link inside an email; instead, type the web address directly into your browser. Never open an attachment unless you were expecting to receive it and you're certain of what it is. Don't spend time in the disreputable corners of the internet that specialize in risqué content or pirated movies; you can get infected simply by visiting a dodgy site. Never install software just because a web site tells you to do it. And always keep a backup copy of all your personal files on a separate drive or with a "cloud"-based backup service. That way, if the worst happens, you'll always have access to your most important data. More from Consumer Reports: Top pick tires for 2016 Best used cars for $25,000 and less 7 best mattresses for couples Copyright © 2006-2017 Consumer Reports, Inc. || 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 || 4 reasons why bitcoin is way up: The price of the digital currency bitcoin is chugging toward $2,000. It’s up 60% in the past month and 320% in the past year. It hits a new all-time high every few days. Bitcoin is flying , and if you’re a cryptocurrency newbie, you might be wondering why. There are always multiple explanations for bitcoin price hikes—it’s almost never one single source. Here are four of the factors contributing to the current wild ride. 1. Japan (and Russia too) On April 1, Japan officially recognized bitcoin as a legal form of payment ; just over a month later, the coin is still seeing a price benefit from that news. The decision means that bitcoin exchanges in Japan will be regulated under anti-money-laundering (AML) and know-your-customer (KYC) frameworks. Charts from CryptoCompare show that 46% of bitcoin trading activity right now is happening in the Japanese yen , more than the activity in any other currency (normally No. 1 is either the US dollar or Chinese yuan), which supports the notion that Japan’s law is the biggest factor stoking the bitcoin price now. In addition, Bloomberg reported on April 10 that Russia aims to do the same in 2018 —its central bank is working with its government to legitimize and regulate digital currency. Yes, there’s an irony to the fact that legitimacy and regulation would boost the bitcoin price, considering that many of the early bitcoin believers got involved in the space specifically because of its anti-government, anti-regulation appeal . This philosophical push and pull continues to play out in the bitcoin world, especially as Wall Street types and financial institutions gravitate toward blockchain technology . Bitcoin is up 80% in 2017 so far. (Yahoo Finance) 2. Bitcoin fork / Litecoin The bitcoin blockchain, the decentralized ledger that records all bitcoin transactions, has slowed down in the last year under the weight of heavy transaction volume. What that means is the speed in which it processes “blocks” (bundles of transactions) has slowed. At some times, transactions are taking two hours to go through—still much faster than international money transfers through traditional wire services like Western Union, but far slower than the bitcoin blockchain used to run. Story continues The problem has led to an internal debate in the bitcoin world (so heated that many have called it a bitcoin “civil war”) over how to raise the block size allowed on the bitcoin blockchain and also decrease lag time. The likely result of the debate will be a “fork” to bitcoin’s code—the blockchain would split into two chains with different software and rules. The premise is called a “hard fork.” While that debate has caused price fluctuations, recently a much smaller digital currency, litecoin (market cap: $1.6 billion vs. bitcoin’s $29 billion), successfully pulled off its own “soft” fork by enacting a proposal called “segregated witness.” It’s a workaround where transactions are split up into a form where they appear smaller to the ledger (and thus more of them can be processed at a time) without having to overhaul the software. After the success of the litecoin fork, there is some renewed optimism around a bitcoin fork and that has helped buoy the price. 3. BATS appeal to the SEC After the SEC’s harsh rejection of a Winklevoss bitcoin ETF in March, the price of bitcoin tumbled after a steady rise. But at the end of March, the Bats global exchange, where the Winklevoss brothers seek to list their bitcoin fund (under the ticker COIN), filed an appeal to the SEC , which will soon rule on that appeal. This means that the Winklevoss bitcoin ETF may get off the ground after all, and some believe that is contributing to the current price hike, albeit to a lesser extent than Japan and litecoin. 4. Growing legitimacy of digital currency + uncertainty in mainstream market The one factor always at play when the bitcoin price is rising quickly is also the simplest: general market uncertainty. Digital currency is seen by many as a safe haven investment class when a country’s fiat currency or economy is unstable. People turned to bitcoin during Greece’s banking crisis ; people turned to bitcoin when China cracked down on capital controls . Because of this trend, Donald Trump’s presidency is thought to be a boon to bitcoin ; the price is up more than 90% since he took office. However: it isn’t the case that bitcoin only rises when there’s uncertainty. That is: if the mainstream market is doing well, that doesn’t mean digital currency can’t also thrive. Rather, bitcoin is an uncorrelated asset. Nick Tomaino, an investor who spent two years at bitcoin wallet company Coinbase and now writes a bitcoin blog , prefers this explanation above all others for bitcoin’s ongoing ride: simple longevity. The longer bitcoin is around, the more seriously investors take it. And indeed, bitcoin’s mainstream legitimacy is at a high point right now. “As distrust in institutions across the world increases,” Tomaino says, “people will gravitate towards [bitcoin]… interest will compound and so will price.” This story was first published on May 10, and was updated on May 19. Disclosure: The author owns less than 1 bitcoin, purchased in 2015 for reporting purposes. — Daniel Roberts is a writer at Yahoo Finance, covering fintech and sports business. Follow him on Twitter at @readDanwrite . Read more: Bitcoin is becoming the new gold More than 75 banks are now on Ripple’s blockchain network America’s big banks are staffing up—for blockchain Why 21 Inc is the most exciting bitcoin company right now Coinbase is more bullish on bitcoin than ever || Hertz shares plunge 18% after first-quarter loss nearly doubles Wall Street estimate: Hertz Global(HTZ)stock tumbled Tuesday, a day after the car rental company reported a bigger-than-expected earnings loss and revenue that fell below analysts' estimates.
Lower rental prices and lower resale value for its used vehicles crimped the earnings report.
Shares of the stock closed down more than 14 percent during Tuesday, as investors digested the weak quarterly report and lack of future guidance from management.
After the bell on Monday the company reported a first quarter earnings loss, excluding items, of $1.61 per share on sales of $1.92 billion. The Street was anticipating Hertz to post a much smaller loss for the quarter of 91 cents on better sales of $1.94 billion, according to Thomson Reuters.
The company's net loss from continuing operations widened to $223 million during the period, from just $52 million a year ago. Hertz also booked an impairment charge of $30 million in the quarter.
Hertz will likely continue to struggle to get better resale values for its cars so long as U.S. used-car prices continue to fall, as more and more vehicles return to the market following their leases' end.
Source: U.S. Bureau of Labor Statistics
Hertz's vehicle sales volume was up 21 percent year over year, but the value is dropping. The company noted that net depreciation per vehicle was up by 15 percent.
"We are placing significant emphasis on fleet quality, the customer experience, brand development and systems transformation," CEO Kathryn Marinello said, attributing the wider losses to increased investments being made in a "turnaround" effort.
With the blessing of billionaire investorCarl Icahn, Hertz's biggest shareholder, Marinello recently replaced CEO John Tague.
The company has performed more poorly than competitors because Hertz's fleet is particularly outdated with fewer SUVs. And competition is stiffer than ever in the age of Uber and Lyft.
As of Tuesday's close, shares of Hertz have fallen more than 63 percent over the past 12 months and are down about 40 percent this year.
Source: FactSet
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• Bet on 'repatriation stocks,' UBS says || Bitcoin eyes return to $3,000 as Ether edges lower: Investing.com – Bitcoin renewed its swing higher on Tuesday, as investor appetite for the digital currency returned while Ethereum struggled to hold onto gains.
On the U.S.-based GDAX exchange, BTC/USD rose to $2,746.6 up 7.29%.
Bitcoin continued its march higher to $3000, the level achieved last week, as investors piled back into the digital currency, after it fell to $2,409, a level that some analysts suggested could be attractive for reentry.
Bitcoin is up nearly 180% year-to-date far outpacing traditional the gains achieved by traditional U.S. benchmarks such as the Nasdaq and the S&P 500, which are up about 15% and 10%, respectively.
Whereas, Ether, a currency transacted through the Ethereum platform, has risen 4,500% since the beginning of the year, backed by big corporate names like JPMorgan (NYSE:JPM) and Microsoft (NASDAQ:MSFT).
Ether failed, however, to mirror bitcoin’s move higher in the session, with eth/usd down 1.20% to $250.73.
Ether has made up significant ground against bitcoin in short space of time, reaching a market cap of about $33 billion not far off bitcoin’s $44 billion.
If recent trends continue, then the value of Ethereum’s currency could usurp Bitcoin’s in the coming weeks – a phenomenon referred to as the “flippeninig.”
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[Random Sample of Social Media Buzz (last 60 days)]
.@coursera has an interesting course on #Bitcoin #Blockchain. It’s created by @Princeton University.
https://www.coursera.org/learn/cryptocurrency … || 3:00~4:00のBitcoin市場は下落でした。
直近の市場の平均Bitcoinの価格は175964.0円
変化率は-0.661%
5:00までは反落になる?
【AIコメントです:テスト中@パターンB】
#bitcoin
#AI || こんな下げ気にしなくていいぜ～まだ対JPYで考えんでええよ。対BTC見とったらええわ。暴落明けは資産増えとるんじゃない？ || 1PkkYgk4C...sntFqzQ7K just won 0.0000056 BTC in our Free #lottery. Come try yourself: https://yabtcl.com/freeLottery.aspx … #YABTCL #Bitcoin || BTC、もっと下がらないかなって || #Bitcoin #Bitcoinbet #NBA Clippers arena gets backing from Inglewood → via http://betbitcoin.pro √… http://btf.st/Cloudbet pic.twitter.com/9CHJ0OlhUJ || DOUBLE your Bitcoin in 80 days or less. https://jet-coin.com/ref/Elta56 || #TheRockCrypto Bitcoin Ransomware Education – CryptoGod http://ift.tt/2sg7S4g || Trading Bitcoin Intraday http://ift.tt/2swNQW6 (via /r/Bitcoin) || Major #Bitcoin_Exchanges Crippled by #DDOS_Attacks Amid Record Price Rally http://dlvr.it/PMZcnv pic.twitter.com/qx9T8ZuP30
|
Trend: down || Prices: 2744.91, 2608.72, 2589.41, 2478.45, 2552.45, 2574.79, 2539.32, 2480.84, 2434.55, 2506.47
|
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 2020-05-04]
BTC Price: 8912.65, BTC RSI: 73.22
Gold Price: 1706.90, Gold RSI: 55.02
Oil Price: 20.39, Oil RSI: 51.19
[Random Sample of News (last 60 days)]
SHAREHOLDER ALERT: QD AAN CAN: The Law Offices of Vincent Wong Reminds Investors of Important Class Action Deadlines: NEW YORK, NY / ACCESSWIRE / March 10, 2020 /The Law Offices of Vincent Wong announce that class actions have commenced on behalf of certain shareholders in the following companies. If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.There will be no obligation or cost to you.
Qudian Inc.(QD)
If you suffered a loss, contact us at:http://www.wongesq.com/pslra-1/qudian-inc-loss-submission-form?prid=5643&wire=1Lead Plaintiff Deadline:March 23, 2020Class Period: December 13, 2018 to January 15, 2020
Allegations against QD include that: (i) regulatory developments in China threatened to negatively impact Qudian's fiscal full year 2019 ("FY19") financial results; (ii) Qudian's business was unprepared to mitigate the risks associated with these regulatory changes; (iii) as a result, Qudian's loan portfolio was plagued by growing delinquency rates; (iv) all of the foregoing made Qudian's repeated assertions concerning its FY19 financial guidance unrealistic; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
Aarons, Inc.(AAN)
If you suffered a loss, contact us at:http://www.wongesq.com/pslra-1/aarons-inc-loss-submission-form?prid=5643&wire=1Lead Plaintiff Deadline:April 28, 2020Class Period: March 2, 2018 to February 19, 2020
Allegations against AAN include that: (i) Aaron's had inadequate disclosure controls, procedures, and compliance measures; (ii) consequently, the operations of Aaron's Progressive Leasing ("Progressive") and Aaron's Business ("AB") segments were in violation of the Federal Trade Commission ("FTC") Act and/or relevant FTC regulations; (iii) consequently, Aaron's earnings from those segments were partially derived from unlawful business practices and were thus unsustainable; (iv) the full extent of Aaron's liability regarding the FTC's investigation into its Progressive and AB segments, Aaron's noncompliance with the FTC Act, and the likely negative consequences of all the foregoing on the Company's financial results; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
Canaan Inc.(CAN)
If you suffered a loss, contact us at:http://www.wongesq.com/pslra-1/canaan-inc-loss-submission-form?prid=5643&wire=1Lead Plaintiff Deadline:May 4, 2020Class Period: publicly traded securities of Canaan, including its American Depository Shares pursuant and/or traceable to the Company's registration statement and related prospectus issued in connection with the Company's November 20, 2019 initial public offering.
Allegations against CAN include that: (1) the purported "strategic cooperation" was actually a transaction with a related party; (2) the company's financial health was worse than what was actually reported; (3) the company had recently removed numerous distributors from its website just prior to the initial public offering, many of which were small or suspicious businesses; and (4) several of the Company's largest Chinese clients in prior years were clients who were not in the Bitcoin mining industry and, thus, would likely not be repeat customers.
To learn more contact Vincent Wong, Esq. either via emailvw@wongesq.comor by telephone at 212.425.1140.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:Vincent Wong, Esq.39 East BroadwaySuite 304New York, NY 10002Tel. 212.425.1140Fax. 866.699.3880E-Mail:vw@wongesq.com
SOURCE:The Law Offices of Vincent Wong
View source version on accesswire.com:https://www.accesswire.com/579975/SHAREHOLDER-ALERT-QD-AAN-CAN-The-Law-Offices-of-Vincent-Wong-Reminds-Investors-of-Important-Class-Action-Deadlines || The Crypto Daily – Movers and Shakers -15/04/20: Bitcoin rose by 0.39% on Tuesday. Partially reversing a 0.98% fall from Monday, Bitcoin ended the day at $6,874.0.
A mixed start to the day saw Bitcoin rise to an early morning high $6,927.9 before hitting reverse.
Falling short of the major resistance levels, Bitcoin slid to a late morning intraday low $6,762.6.
Steering clear of the first major support level at $6,640.87, Bitcoin rallied to a late afternoon intraday high $6,985.0.
Bitcoin came within range of the first major support level at $6,986.77 before easing back to sub-$6,900 levels.
The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.
For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.
Across the rest of the majors, it was a mixed day on Tuesday.
Binance Coin rallied by 3.78% to lead the way on the day.
EOS (+0.57%), Ethereum (+1.21%), Monero’s XMR (+1.88%), and Tezos (+0.26%0 also ended the day in the green.
Bitcoin Cash ABC led the way down on Tuesday, with a 1.43% loss.
Bitcoin Cash SV (-0.08%), Cardano’s ADA (-0.21%), Litecoin (-0.36%), Ripple’s XRP (-0.89%), Stellar’s Lumen (-0.16%), and Tron’s TRX (-0.75%) also ended the day in the red.
Through the start of the week, the crypto total market cap fell from a Monday high $198.52bn to a low $190.67bn. On Tuesday, the total market cap rose to a current week high $198.64bn before easing back. At the time of writing, the total market cap stood at $197.55bn.
Bitcoin’s dominance held steady at sub-65% levels on Monday. At the time of writing, Bitcoin’s dominance stood at 64.1%.
24-hour trading volumes rose from sub-$120bn levels to hit $145bn levels on Monday before falling back. At the time of writing, 24-hr volumes stood at $119.04bn.
At the time of writing, Bitcoin was up by 0.86% to $6,932.80. A mixed start to the day saw Bitcoin fall to an early morning low $6,808.0 before rising to a high $6,940.6.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Stellar’s Lumen bucked the trend early on, falling by 0.40%.
It was a bullish start to the day for the rest of the majors.
Cardano’s ADA was up by 1.75% at the time of writing, to lead the way.
Bitcoin would need to avoid sub-$6,870 levels to bring the first major resistance level at $6,985.13 into play.
Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $6,940.6.
Barring a broad-based crypto rally, the first major resistance level and Tuesday’s high $6,985 will likely limit any upside.
In the event of an extended rally, the second major resistance level at $7,096.27 could come into play.
Failure to avoid sub-$6,870 levels could see Bitcoin spend the day in the red.
A fall back through the morning low $6,808.0 would bring the first major support level at $6,762.73 into play.
Barring an extended crypto sell-off, however, Bitcoin should continue to steer of sub-$6,500 support levels.
In the event of a sell-off, the second major support level at $6,651.47 would come into play.
Thisarticlewas originally posted on FX Empire
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• Natural Gas Price Prediction – Prices Drop Led by Declining Demand || Bitcoin is crashing even more than stocks due to coronavirus closures: Stocks have gone off a cliffin the past two weeks, reeling from the rapidglobal spread of coronavirus. TheFed has madetwo emergency cuts in the shortest time period it has ever done so, cutting rates to near zero. Last Thursday was the worst day for stocks since the Black Monday crash in October 1987. The S&P 500 is down 11% in the past five days, the Dow down 13% in that time, and the Nasdaq down 10%.
Bitcoin has fared even worse.
The leading cryptocurrency by market cap is down 30% in the past five days, and down 50% in the past month. On Friday, bitcoin tanked 25% in just 24 hours, bringing it below $6,000 for the first time since May 2019, 10 months ago.
Bitcoin rose 87% in 2019, and it had been having a very strong 2020 until mid-February; now it’s down 30% for the year.
As of Monday at noon, bitcoin was hovering at $5,000.
“It is quite fascinating to watch how bad it’s performed,” said David Zervos, chief market strategist at Jefferies. “To see bitcoin off $1,400 in a day, that’s not going to give people a lot of confidence that it’s doing what it’s sort of marketed to do.”
The other largest cryptocurrencies aren’t doing any better amid the coronavirus rout: ether (ETH) is down 30% in the last five days, 56% in the last month; XRP (XRP) is down 25% in the past five days and 52% in the past month; bitcoin cash (BCH) is down 32% in the past five days and down 60% in the past month.
What happened to the idea of crypto as a safe haven asset, a hedge against economic uncertainty?
The best answer for now is that coronavirus, a so-called black swan event, has become such a massive shock to the global economy that basically every asset class is down, creating a risk-off environment in which crypto, already a notoriously risky investment, isn’t very attractive. Investors are hurriedly selling off stocks, and they’re not moving that cash into crypto.
On the other hand, gold has outperformed crypto in 2020, which has further dinged the “digital gold” theory for bitcoin. Even widely reported (ultimately incorrect) rumors that paper cash could transmit the virus did not boost the price of digital currencies.
Crypto bulls reman bullish. “I think these geopolitical events, including coronavirus and geopolitical tensions, really improve the use case,” Fundstrat’sTom Lee told Yahoo Financein February. “I think it’s a good time to look at crypto.”
Last week, Leeagain reiterated, “In an environment where the stock market is in big trouble, crypto I think does make sense as a hedge.” The people furiously selling off their crypto do not appear to agree.
Bitcoin believers can still point to the fact that bitcoin is up big over a longer period of time: up 1,700% compared to five years ago. Still, because it kissed $20,000 per coin at the end of 2017, bitcoin—fairly or unfairly—still always gets compared to that all-time-high bar.
—
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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Read the latest financial and business news from Yahoo Finance
Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,LinkedIn,YouTube, andreddit. || Geopolitical Crisis May Benefit Oil, Gold and CBDCs, Not Bitcoin: Demand for gold is skyrocketing and the clamor for scarce assets in a remote-first world was precisely where bitcoin was supposed to shine. However, rather than creating a perfect scenario for the supranational money, the coronavirus crisis could instead entrench reliance on traditional institutions. In a world where central bank digital currencies (CBDCs) from major economies are fast approaching, bitcoin settlements may appear less attractive to compliance-focused financial entities. As for short-term market signals, it’s more common for big traders to turn to oil or gold these days, according to eToro CEO Yoni Assia. Related: Strange Days: S&P 500 Is More Volatile Than Bitcoin This Month “The Saudi-Russia-U.S. competition on lowering the price of oil has added a lot of fire … some days [oil] is now the most traded asset on eToro,” Assia said. “There’s been a significant squeeze on the ability to purchase dollars. … There are liquidity issues but we’re still not at the point of 2008.” Assia said overall activity on eToro is up in March, including cryptocurrency trades, with gold purchases in particular at an “all-time high.” These traders bought $7.4 billion worth of gold in the first week of March alone, he said. While retail investors have increasingly turned to bitcoin , the volume they’re moving during the downturn is nothing compared to activity associated with other hard assets. Read more: Retail Investors Are Buying the Bitcoin Institutions Are Selling, Traders Say “Gold price and flow is determined by the real rate of interest,” Roy Sebag, founder of precious metals custody firm Goldmoney, said, adding that Russian gold markets are impacted differently because they don’t rely on dollars. “The [U.S.] Federal Reserve completely changed the rules – the real rate of interest [including inflation] swung even more into the negative and so we are seeing all that savings flow into gold immediately.” Related: Bitcoin Price Decline Prompts US Mining Firm to Shut Down ‘Indefinitely’ Story continues Rumors abound that institutions are short on physical assets like gold . Sebag said the coronavirus crisis has shut down precious-metal mints, refineries and mines, leading to high premiums on small units. “Traders are looking for small denominations of gold, which are becoming more and more difficult to find,” Sebag said . Issuers of gold-backed stablecoins, like Paxos , are also seeing increased demand. Even with bitcoin trading up among retail investors, it hasn’t translated to stronger bitcoin use among retailers. According to BlueWallet co-founder Nuno Coelho, Lightning Network payments have been steadily decreasing over the past year. Channel capacity peaked in May 2019. This may leave bitcoin languishing, stuck between niche commercial rails and a lack of large-scale users. “The hype about Lightning is gone,” Coelho said. “It’s time to focus on building the protocol and prove that Lightning can be a payments layer on top of Bitcoin. At the moment that is not clear yet.” Some critics are questioning whether the grandfather cryptocurrency will eventually be the settlement layer some institutions hoped for – especially if CBDCs gain a foothold. CBDC stimulus The U.S. Congress is already in talks about issuing a “ Digital Dollar ,” which might in some ways be comparable to China’s CBDC plans. That’s why Michael Sung, a professor at Shanghai’s Fudan University, said he expects the coronavirus crisis to “accelerate” Chinese CBDC initiatives. Read more: US Senate Floats ‘Digital Dollar’ Bill After House Scrubs Term From Coronavirus Relief Plan “This would be the proper way to deploy the CBDC in China, it would be a stimulus,” Sung said. “The [Chinese] government has already indicated digital currency is not meant to do large settlements.” The Chinese government’s approach to digital settlements is especially relevant considering it is home to the majority of bitcoin mining farms and manufacturers. Russia comes in at a distant second, a nation that has also taken a favorable approach toward CBDCs and a restrictive one toward bitcoin. Governments could issue digital assets without the restraints of physical shipments or reserves, which both Eastern superpowers are also shoring up . China is, after all, both the world’s top gold producer and consumer . Some analysts believe the adjustable CBDC would offer a complementary catalyst to tangible reserves. “There’s a massive shift to fintech,” Sung said. “This will lead to a mass digitization.” On Tuesday, Chinese news outlet Global Times reported the People’s Bank of China (PBoC) is now drafting laws to pave the way for CBDC circulation. Tony Tong, co-chairman of the Hong Kong Blockchain Association, agreed the current crisis may hasten such efforts and reduce the government’s reliance on physical cash. Fudan University’s Sung said he expects to see such developments before 2021. “Bitcoin was supposed to be the digital gold,” Sung said. “But there are all sorts of weird dynamics where it’s now unclear if bitcoin has that privileged status as a flight to safety.” Will Foxley contributed reporting. Related Stories Investors Regained Confidence in Bitcoin Amid Price Recovery, Data Suggests UK Counties Warn of Bitcoin Scams Using Coronavirus as a Hook || Natural Gas Price Forecast – Natural Gas Markets Run Into Resistance: Natural gas markets initially tried to rally during the trading session during the day on Monday but found the $2.00 level to be far too resistive to continue going higher. That being the case, the market looks likely to continue to struggle to get above there for a significant move, but it certainly looks as if it is finding buyers underneath, so it is possible that we could see this market turn around and try to break out to the upside but there are a whole plethora of reasons to worry about trouble above. NATGAS Video 05.05.20 The first one is the obvious $2.00 level, an area that should continue to cause a lot of psychological resistance. Furthermore, if the market were to break above the $2.00 level it has a significant amount of resistance extending to the $2.10 level, based upon the previous trading action. If we can clear that level, then it is likely that we go looking towards the 200 day EMA above. The 200 day EMA is a massive technical indicator that will attract a lot of attention, so clearing that could kick off the longer-term uptrend. While there is still significant oversupply out there, the reality is that there are going to be a ton of bankruptcies in the natural gas sector, and that will bring down supply eventually. At this point, traders will probably try to “front run” that wave of insolvencies. The trick of course is to time that move correctly, something that is not easy to do. In the short term, it looks like we may pull back towards the $1.85 level where the 50 day EMA sits. This article was originally posted on FX Empire More From FXEMPIRE: Crude Oil Price Update -Trying to Cross to Strong Side of Short-Term 50% Level GBP/USD Price Forecast – British Pound Pulls Back to Kickoff Week GBP/JPY Price Forecast – British Pound Reaches Bottom of Range Silver Price Daily Forecast – Support At $14.60 Stays Strong USD/JPY Price Forecast – US Dollar Dips Slightly Bitcoin Trades Like the S&P 500, and is Testing Resistance || Bitcoin, Ethereum & Litecoin - American Wrap: 3/30/2020: Bitcoin Price Analysis: BTC Feels Like It's In No Man's Land At The Moment Bitcoin fell around 9% Friday through till Sunday and the price has bounced back somewhat at the start of the trading week. The market has been consolidating for a while and seems to be lacking any firm direction at the moment. On the hourly chart below the price seems to be stuck between the black resistance (6,983) and the red support (5,750). A strong breakout could be on the cards but who knows when it will occur. Ethereum Price Analysis: ETH/USD Remains Heavily At Risk Of Fall Ethereum price is trading in the green by 6.15% in the session on Monday. ETH/USD continues to move within a very tight range, breakout looming via the daily. The price for the last two weeks has offered little direction, but closing in the green. Litecoin Price Analysis: LTC/USD Will Only Progress To A Greater Recovery If Is Broken Litecoin price is trading in negative territory by 4.15% in the session on Monday. LTC/USD has offered little in terms of price action since 13 March. Given the narrow conditions, it suggests a big breakout is in the works for Litecoin. See more from Benzinga Bitcoin, Ethereum & Litecoin - American Wrap: 3/26/2020 Bitcoin, Ethereum & Litecoin - American Wrap: 3/25/2020 Bitcoin, Ethereum & Litecoin - American Wrap: 3/24/2020 © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || World Economic Forum Shares Roadmap for Deploying Blockchains in Real World: The World Economic Forum (WEF) is pitching blockchain as the savior of failing global supply chains and says its blockchain deployment toolkit, published Tuesday, is the roadmap to launch.
Responding to the economic stresses ofCOVID-19, which has frozen global consumer demand and also exposedlife-and-death holesin existing supply chains, the Swiss NGO best known for its glitzy Davos summit published “Redesigning Trust: Blockchain Deployment Toolkit,” a guide to building more resilient supply chains on distributed ledgers.
The 244-page report includes checklists, guided questions, explainers and risk assessments addressing tax concerns and data privacy; forming a consortium, its ecosystem and governance; public vs. private chains; cybersecurity; interoperability; and digital identity, among other concerns. The toolkit is less a barometer for deciding if blockchain fits one’s scenario than it is a guide to implementing DLT within that scenario effectively.
Related:No Visits, No Parole: Ross Ulbricht Is More Alone Than Ever During COVID-19
For example, one section considers how zero-knowledge proofs, homomorphic encryption, role-based access controls and off-chain hashing configurations may offer workarounds for the European Union’s General Data Protection Regulation (GDPR), a sweeping internet privacy law whose right to data erasure isat seemingly existential oddswith blockchain’s distributed and immutable nature.
The toolkit frames blockchain as a natural technological evolution for companies and governments emerging from this public health crisis.
“The case for blockchain is stronger as the COVID-19 pandemic underscores the need for more resilient global supply chains, trusted data and an economic recovery enabled through trade digitization,” the report’s authors wrote.
Development of the toolkit predated the COVID-19 crisis by more than a year, but its release was fast-tracked in light of the virus, said Nadia Hewett, the forum’s blockchain and digital currency lead and one of the toolkit’s main authors. It is perhaps more timely in the shadow of the generational shock to public health and economies alike.
Related:US Authorities Freeze COVID-19 Website Alleged Scammer Tried to Sell for Bitcoin
The virus that first froze China did the same nearly everywhere over vast swaths of the globe. Economies rolled into turmoil as governments grappled with afalse choice– shutter the businesses or risk catastrophic infection rates – before ultimately siding with public health, a choice even Federal Reserve researcherscalled an economic no-brainer.
Consequently, the coronavirus reshaped global trade in ways that are still developing and whose long-term implications will not fully be known for months or more. Along with supply chains frozen by their economies’ respective inactivity, there’s also questions of overall supply chain resiliency that the World Economic Forum hasitself argued blockchaincan fix.
Read More:Why the World Economic Forum Is Creating a Blockchain ‘Bill of Rights’
Blockchain “is not a silver bullet,” Hewett said. “It’s not going to solve it all, but it absolutely has features that can help with issues that’s typical in epidemics and pandemics.”
Hewett said blockchain could help overcome medical equipment provenance issues that opportunistic scammers have exploited, trickingsmall-scale ordersand evenmedical centersinto spending emergency funds on worthless fake masks. This is a problem blockchain’s peer-to-peer immutability can address, Hewett said.
On a broader scale, Hewett said the pandemic may make companies of all sizes reconsider their technological reliance networks and “push ahead” with improvements they began developing during past crises but fizzled as triggers event receded. COVID-19 appears to be a more resilient call to arms, she said.
“This time we really do see a big momentum behind making sure this time that they capture the momentum and that we bake into our solutions day-to-day elements but also that could help during a disruption,” she said. “Post-COVID, that future state, let’s work toward and shape the outcome in a way that promotes interoperability, integrity, and inclusivity.”
The WEF worked with both private companies and government entities to ensure the guide provided the most helpful advice.
“You can use it to navigate end-to-end for deployment guidance, you can choose the specific topic of interest for you or your team,” Hewett said.
Hewett also noted the lag some global regulators have had in coming to grips with this new technology class.
“These technologies are moving incredibly fast,” Hewett said. “Your traditional ways of regulation and waiting are not going to work.”
The guidebook tries to inject “agility” into that regulatory dance by compiling the experiences of 80 companies, 40 use cases and 20 governments that have faced blockchain-for-supply-chain questions before.
Read More:World Economic Forum Looks to Blockchain for Supply Chain Woes
Hewett said this public and private sector collaboration was critical. The toolkit “covers topics which aren’t always that obvious to technologists or business leaders,” she said, and offers guidance informed by others’ mistakes.
One startup’s late-stage realization that its upcoming blockchain deployment had tax implications led the guide to include an entire section on tax considerations, Hewett said.
“The toolkit as a minimum forces organizations to ask themselves those questions and make sure it is considered,” she said.
Collective deployment experiences, now compiled in a public document, will help small and medium sized enterprises (SME) cut past marketing storylines to reach the how-to of blockchain implementation, a previously costly proposition, she said.
“We can put this in the hands of those parts of the world, those parts of the supply chains, where they’re not empowered with information to negotiate good positions for themselves. We really hope to see this put power back in the hands of those SMEs,” she said.
• COVID-19 Tracing Apps Have to Go Viral to Work. That’s a Big Ask
• Road to Consensus: Harry Halpin Talks Holistic Privacy, Mixnets and COVID-19 (of Course) || GitHub Is Burying Bitcoin Code Inside an Arctic Mountain to Ride Out the Next 1,000 Years: An icy mountain in Norway’s Svalbard – an all but inhabitable Arctic archipelago covered in glaciers and inhabited by polar bears – is an unlikely safe haven for cryptocurrency code, let alone a pillar of modern-day civilization.
But it’s here, 250 meters underground in a forsaken coal mine, that GitHub has chosen to store reams of open-source code. That includes Bitcoin Core, by far the most popular code implementation of bitcoin’s underlying infrastructure and one of the most used repositories on GitHub.
As a part of anarchiving programfor safeguarding an important part of technological history, a “snapshot” of all this code will be copied onto film reels and stored in a steel container, all done in an effort to keep the data alive and unscathed for 1,000 years.
Related:BitMEX Operator Ups Grant for Bitcoin Development to $100K
The team is currently getting this data ready. The official deposit into the mountain is planned for late April, a GitHub spokesperson told CoinDesk.
But, while Bitcoin Core is featured, most cryptocurrency projects stored on GitHub will also be included, including bitcoin’s forward-looking Lightning Network, and the code behind other cryptocurrencies, such as ethereum and dogecoin.
Organizations like the non-profit digital library Internet Archive and the future-looking cultural non-profit Long Now Foundation are backing the effort, and historians, anthropologists and other scientists are advising it.
Bitcoin and Ethereum coders are fans of the initiative. “The more backups the merrier,” as ethereum developer Ligi put it to CoinDesk.
Related:Bitcoin Coders Confront an Old Quandary: How to Upgrade an Entire Network
“I think it’s likely that at some point in the future the electronic record will be lost. It’s all pretty fragile. Preserving some things on hard copy could definitely help avoid a hole in history,” said Wladimir van der Laan, lead maintainer of Bitcoin Core.
The archive potentially provides a way for people up to 1,000 years from now to figure out what on earth cryptocurrency was or how it evolved – if it manages to last a millennium.
“In one sense, this is a fascinating section of financial history that we should preserve for future study,” Avanti Chief Technology Officer and Bitcoin Core contributor Bryan Bishop said.
While archiving cryptocurrency code could plug historical holes for historians, there are limits to what storing this information will enable.
Van der Laan pointed out that, from a software engineer’s perspective, the code might not make much sense to coders hundreds of years from now.
“As a developer, I do find the idea of a future historian trying to puzzle together our (what goes for) civilization from reams of clever hacks, spaghetti code and context-specific source code kind of amusing,” van der Laan said.
Jason Teutsch, the founder of Ethereum infrastructure project Truebit and a computer science researcher, argued similarly: Explanations of the code should sit alongside the raw material.
“The social, economic, regulatory and academic records depicting motivations and resources for code development may ultimately become more important than the code itself,” he said.
Read more:Here’s How to Inspect Bitcoin’s Next (Likely) Major Upgrade Yourself
As a developer who hosts awikifor futurist technological ideas, Avanti’s Bishop is looking to preserve information even further into the future. In fact, Bishop is awaiting a patent for a way to store information inside of DNA. He notes that the genetic instructions guiding an organism’s growth can preserve information for hundreds of thousands of years.
And while this project could help preserve some history, Bishop argues there’s plenty of other important information out there that should be stored in a similar fashion.
“Beyond GitHub, I think they need to seriously consider archiving Sci-Hub, which has over 70 million scientific articles,” Bishop said. “It’s one of the great feats of human intellect and progress, and it needs to be preserved.”
• Here’s How to Inspect Bitcoin’s Next (Likely) Major Upgrade Yourself
• Bitcoin’s Privacy and Scaling Tech Upgrade ‘Taproot’ Just Took a Big Step Forward || BREAKING: Bitcoin crashes below $5,600 with 27% decline: Bitcoin has succumbed to a staggering market sell-off with a 27% move to the downside with price sliding below the $5,900 level of support. The worlds largest cryptocurrency is now in uncharted territory with it trading at its lowest point since April 2019. A bounce is expected below $6,000 as traders attempt to buy the dip, although momentum seems to have certainly shifted to the downside. The sell-off has been reflected across all digital assets, with Ethereum experiencing a 30% decline to $140 while XRP fell as low as $0.13. Bitcoin The crash has been attributed to heightened fears surrounding the coronavirus, with several nations effectively locking down regions to stem the flow of the virus. This has caused a cataclysmic crash in global stock markets with the S&P500 crashing to below 2614 after topping out at 3399 last month. Bitcoin has often been touted as a safe haven, although the recent crash in its price will undoubtedly scare potential investors off as they may opt to invest in gold, which has remained relatively stable and bullish. Panic has certainly crept into all global capital markets, with Bitcoin price targets beginning to emerge at $4,850 and $3,150. From a short term perspective Bitcoin needs to trade back above the $6,400 level of resistance, with this evenings daily candle close being critical. For more news, guides and cryptocurrency analysis, click here . Bitcoin pricing Current live BTC 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. Story continues The paper outlined a method of using a P2P network for electronic transactions without relying on trust. On January 3 2009, the Bitcoin network came into existence. Nakamoto mined block number 0 (or the genesis block), which had a reward of 50 Bitcoins. More BTC 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. Heres 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. || Facebook's Libra cryptocurrency gets revamp in response to backlash: By Brenna Hughes Neghaiwi and Tom Wilson ZURICH/LONDON (Reuters) - Facebook's <FB.O> planned cryptocurrency Libra will be linked to individual national currencies and overseen by global watchdogs in a scaled-back revamp it hopes will win regulatory approval. The prospect of Facebook's 2.5 billion users adopting Libra has led to intense scrutiny from global regulators, with many worried its launch could erode national control over money. Libra's governing body, which is seeking the go-ahead from Switzerland's markets watchdog, said on Thursday that it will now offer "stablecoins" backed by single currencies, as well as a redesigned token based on these currency-pegged coins. The original plan was for Libra, which was unveiled last June, to be backed by a wide mixture of currencies and government debt. But central banks and regulators feared it could destabilise monetary policy, facilitate money laundering and erode users' privacy, with some threatening to block it. In response, the Libra Association, which will issue the coin and govern its network, said a "college" of central banks, regulators and enforcement agencies from more than 20 countries set up by Swiss watchdog FINMA will have a say in its bid to be licensed as a payments service provider in Switzerland. The Geneva-based Libra Association declined to give details of the body's membership and it was not immediately clear how major regulators would respond to Libra's updated plans. FINMA on Thursday acknowledged receipt of Libra's application for a payments system licence, saying the outcome and duration of the process remained open. It did not elaborate on the role other authorities would play in Libra receiving regulatory approval, but said it was in close contact with authorities and central banks from around the world and saw the need, given the scope of the project, for an "internationally coordinated approach". Story continues Libra, which had planned to launch by the end of June, now aims to do so between mid-November and the end of the year, Dante Disparte, its head of policy and communications, said. Some countries, including France and Germany, had said they would seek to block Libra's launch, while other global bodies scrambled to set out rules for stablecoins. Until the advent of Libra, these had been a niche aspect of cryptocurrencies and barely featured on the regulatory radar. Bitcoin, the biggest digital currency, is little-used in payments or commerce, in part because of its extreme volatility, and remains largely unregulated. Libra's most prominent original backers, including payments giants Mastercard, <MA.N>, Visa <V.N> and PayPal <PYPL.O>, ditched the project in the wake of the scrutiny. SAFEGUARDS Libra said it will now offer stablecoins based on a still-undecided line-up of individual currencies. It cited stablecoins based on the dollar, euro and sterling as possible examples. Alongside these, Libra said it will also offer a revamped "Libra Coin", a composite of some of the single-currency tokens, potentially for use in cross-border remittances. "We're retaining the construct of a multi-currency Libra, but it's fundamentally changed, streamlined and simplified relative to the original one," said Christian Catalini, head economist at Calibra, Facebook's digital wallet that will offer Libra via its Messenger and WhatsApp messaging platforms. Libra also said it would bolster protections for the Libra Coin's reserve in case of "extreme market distress". The reserve will hold liquid assets with short-term maturity and low credit risk and a capital buffer, the level of which is undecided. Another change is that Libra plans to strengthen safeguards on money laundering or terrorist financing. The Association will register with the U.S Treasury's Financial Crimes Enforcement Network (FinCEN) as a money services business, a move that would come with heightened record-keeping ad reporting requirements. Central banks have accelerated their research on issuing their own digital currencies, known as CBDCs, in response to Libra, with China closest to launching one as issuance by Western central banks remains a distant prospect. Adding to Libra's original goals of bringing financial services to people who lack access to banks, Libra said the redesign would now help governments transform payments systems. The revamp could allow governments to "directly integrate" any future CBDCs into its network, Libra said. (Reporting by Brenna Hughes Neghaiwi in Zurich and Tom Wilson in London; Editing by Alexander Smith)
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 9003.07, 9268.76, 9951.52, 9842.67, 9593.90, 8756.43, 8601.80, 8804.48, 9269.99, 9733.72
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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.
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[Technical Analysis for 2022-07-25]
BTC Price: 21361.70, BTC RSI: 46.37
Gold Price: 1719.00, Gold RSI: 36.33
Oil Price: 96.70, Oil RSI: 41.04
[Random Sample of News (last 60 days)]
The Motley Fool’s Market-Beating Stock Tool Is $79 for a Limited Time: Our editors independently select the products we recommend. We may earn a commission on items bought through our links. This article about Stock Advisor , a stock recommendation tool from The Motley Fool, was originally published in January 2022. We have since updated this post with updated information about the subscription price. Today's Top Deals Get DIY-Ready With Dewalt's 20V Max Cordless Drill Driver Kit, Over $100 Off Save Up to 72% on SanDisk Flash Drives Brave The Elements With This Rechargeable Hand Warmer, 20% Off The investment landscape looks a lot different in 2022 than it did for our parents and grandparents. Savings accounts offer practically 0% returns, and many millennials can afford to hire a financial advisor the same way they can afford to buy a yacht. It’s no wonder so many young people are exploring novel investment vehicles such as cryptocurrency and NFTs. 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Stock Advisor’s stock picks have averaged returns of 558% since the inception of the service, and are currently averaging 359%* returns despite the current market climate. Not only has Stock Advisor beaten the market for 19 years straight, but The Motley Fool’s team of investment experts shows no signs of slowing down. They’ve 4X’d the S&P 500 year after year, which is why they’re trusted by more than 1 million investors to date . The problem with investing today? If you don’t have the market savvy, it’s hard not to be lured in by new, shiny investment opportunities that promise the world but can turn on a dime and return nothing. Cryptocurrency and NFTs might sound promising, but we believe there are smarter places to put your money, including long-term investment. Unfortunately, many people can’t afford to hire their own financial advisors, which is why they go seeking alternative investment opportunities in the first place. 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Click here to read the full article. || 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 || Bitcoin (BTC) Falls to sub-$27,500 with the Bears Eyeing $25,000: Key Insights: On Saturday, bitcoin (BTC) fell by 2.33% to end the day at sub-$28,500. Investors failed to move on from the US inflation figures on Friday, with the focus now moving on to the Fed monetary policy decision on Wednesday. The Bitcoin Fear & Greed Index saw a modest rise this morning, despite bitcoin falling for a fifth consecutive day. On Saturday, bitcoin ( BTC ) fell by 2.3%. Following a 3.4% slide on Friday, bitcoin ended the day at $28,389. A bullish morning saw bitcoin hit a high of $29,414 before hitting reverse. Falling short of the First Major Resistance Level at $29,989, bitcoin slid to a day low of $28,105. Bitcoin fell through the First Major Support Level at $28,492 to end the day in the deep red. Market sentiment failed to improve this morning, with bitcoin facing the prospect of ending the week at the lowest level since the week ending December 21, 2020. Market jitters over Fed monetary policy and the likely interest rate path trajectory to curb inflation continue to weigh. The Bitcoin Fear & Greed Index Rises Amidst Sell-Off Today, the Fear & Greed Index rose from 12/100 to 14/100. The modest increase came despite the ongoing bitcoin sell-off that led bitcoin down to sub-$27,500 for the first time since the May 12 sell-off fueled by the collapse of TerraUSD ( USTC ) and Terra LUNA . Fear & Greed 120622 While the Index increased, despite Saturdays sell-off, the Index remains deep within the Extreme Fear zone, reflecting investor fear of further downside. With bitcoin closely correlated with the NASDAQ 100, investors may need to wait until Monday for any shift in sentiment. The threat of a more aggressive Fed interest rate path, however, could test appetite for riskier assets through to Wednesdays decision. Bitcoin (BTC) Price Action At the time of writing, BTC was down 3.29% to $27,457. A mixed start to the day saw BTC rise to an early morning high of $28,519 before sliding to a morning low of $27,183. The extended sell-off saw BTC fall through the First Major Support Level at $27,860 and the Second Major Support Level at $27,330. Story continues BTCUSD 120622 Daily Chart Technical Indicators BTC will need to move through the First Major Support Level and the $28,636 pivot to target the First Major Resistance Level at $29,165. BTC would need the broader crypto market to support a return to $29,000. An extended rally would test the Second Major Resistance Level at $29,942 and resistance at $30,000. Failure to move through the First Major Support Level and the pivot would leave the Second Major Support Level at $27,330 in play. In the event of an extended sell-off, bitcoin could test the Third Major Support Level at $26,015 before any recovery. BTCUSD 120622 Hourly Chart Looking at the EMAs and the 4-hourly candlestick chart (below), it is a bearish signal. Bitcoin sits below the 50-day EMA, currently at $29,549. The 50-day EMA fell back from the 100-day EMA. The 100-day EMA eased back from the 100-day EMA, bitcoin price negative. A return to $29,000 would give the bulls a run at the 50-day EMA. BTCUSD 120622 4 Hourly Chart This article was originally posted on FX Empire More From FXEMPIRE: Tasty name but no Big Mac: Russia opens rebranded McDonalds restaurants Analysis-Quebec focuses on French-speaking immigrants as companies plead for workers Israel to boost building starts in bid to rein in soaring housing costs Norway oil firms, workers agree wage deal in principle, avert strike for now N.Korea fires multiple artillery shots, S.Korea says Italian far-right leader Meloni eyes breakthrough in mayoral votes || Bitcoin and ETH Price Prediction: Bulls Keep Pushing, Why ApeCoin Could Skyrocket: Key Insights: Bitcoin tested the $20,550 zone and recovered losses. Ether (ETH) is showing positive signs above the $1,200 level. APE broke a major bearish trend line on the daily chart and rallied over 15%. Bitcoin Recently, bitcoin price corrected lower below the $21,000 support zone. It even spiked below the $20,650 support and the 21 simple moving average (H1). However, the bulls were active near the $20,550 zone. The price formed a base and recovered above the $21,000 level. It is now trading near $21,000 and above the 21 simple moving average (H1). BTC Hourly Chart by FXEmpire On the upside, bitcoin is facing resistance near a connecting bearish trend line at $21,050 on the hourly chart. A clear move above $21,050 and $21,250 is must to start a decent increase. If not, it could move towards $20,000. Ethereum (ETH) ETH also followed a similar pattern and corrected below the $1,200 level. The price tested the key $1,165 support zone, where it found a strong buying interest. The price recovered above the $1,200 level and the 21 simple moving average (H1). There was a clear move above a key bearish trend line at $1,205 on the hourly chart. It is now consolidating near the $1,225 level. ETH Hourly Chart by FXEmpire On the upside, ether price is facing resistance near the $1,250. A clear move above $1,250 could set the tone for a larger increase. ApeCoin (APE) APE started a strong decline from the $28 resistance zone. There was a move below the $15 and $12 support levels to move into a bearish zone. The price even declined below the $10 level and the 21-day simple moving average. Finally, it tested the $3.2 support zone, where it found strong bids. A base was formed and the price recovered above the $4.50 level. APE Daily Chart by FXEmpire Recently, the price gained over 15% and surpassed a major bearish trend line at $5.0 on the daily chart. The price is now trading well above $5.0 and the 21-day simple moving average. The next key resistance on the upside may perhaps be near $5.40 or $5.50. A clear close above the $5.50 resistance could open the doors for a fresh surge towards $10. ADA, BNB, and DOT price Cardano (ADA) is still struggling below the $0.50 resistance zone. A close above $0.50 and $0.512 might send the price higher towards $0.565. Binance Coin (BNB) is moving higher towards the $240 level. The next major resistance is near $250, above which it could test $265. Polkadot (DOT) is attempting a fresh increase above the $8.0 resistance. If the bulls succeed, the price could rise towards the $8.80 level. A few trending coins are FLOW , XTZ , and BTT . Out of these, XTZ is gaining pace above the $1.65 resistance zone. Story continues This article was originally posted on FX Empire More From FXEMPIRE: Poles look to their forests to ease energy price pain Bulgaria expels 70 Russian diplomatic staff over espionage concerns E-mini S&P 500 Index (ES) Futures Technical Analysis Drop in Consumer Confidence Sinks Benchmark Index Biden administration on lookout for states violating womens rights after abortion ruling Spains Indra looks for new board members after seven leave Spain rejects state aid for Abengoa unit, bringing it closer to bankruptcy View comments || Crypto Lender Celsius Accused of Being ‘Ponzi Scheme’: (Bloomberg) -- Most Read from Bloomberg Elon’s Out Fresh US Inflation Peak to Keep Fed on Aggressive Rate Path Biden Administration to Again Extend the Covid Public-Health Emergency Thirteen ‘Perfect Storms’ That Are Sweeping the World Right Now Ten Ways Things Are Really Different Than the Last Big Recession Celsius Network, the crypto lender that froze assets last month, used customer funds to manipulate the price of its proprietary token and lost hundreds of millions of dollars by failing to hedge risk, a former money manager for the company said in a lawsuit. Celsius amassed more than $20 billion in assets by offering interest rates as high as 18% to customers who deposited their cryptocurrencies. Founder Alex Mashinsky dismissed skepticism about whether that was sustainable, saying the company was able to earn high rates itself. But Celsius was in fact struggling to cover the payouts and suffered “severe exchange rate losses” due to the fluctuating values of different coins, according to a complaint filed Thursday in New York state court by KeyFi Inc., the company founded by the former money manager, Jason Stone. Stone, who called Celsius a Ponzi scheme in the complaint, said it cheated him out of potentially hundreds of millions of dollars in pay. A spokesperson for Celsius didn’t immediately respond to a request for comment. Kyle Roche, KeyFi’s lawyer, declined to comment. Read More: Crypto Debacle at Celsius Rattles Market Already Shaken by Terra The allegations come amid a credit crisis in cryptocurrency markets. Hedge fund Three Arrows Capital was ordered into liquidation last month, broker Voyager Digital Ltd. filed for bankruptcy this week and other firms offering high-yield products including Babel Finance and Vauld have suspended withdrawals. Celsius’s customers have been unable to access their funds since June 12. The company said on June 30 that it’s considering restructuring its debts. More than a million people entrusted their savings to Celsius, according to the company. The appeal was obvious: The rates it paid were tens or hundreds of times higher than traditional savings accounts. Story continues Behind the scenes, Celsius was investing customer funds in risky trading strategies, without proper controls, according to the lawsuit. Starting in August 2020, Celsius started transferring hundreds of millions of dollars to Stone’s company, KeyFi. What’s Crypto Lending? Why Did Investors Get Burned?: QuickTake Though the two firms didn’t have a written agreement, Stone was given the private cryptographic keys to the funds, meaning he could have run off with them, according to the complaint. Stone was tasked with investing the money through DeFi. Short for “decentralized finance,” it’s a constellation of apps that let users borrow, lend and trade with each other, without middlemen. At the time, many of the apps were paying users huge rewards in proprietary cryptocurrencies. KeyFi earned more than $800 million for Celsius through DeFi strategies, according to the lawsuit. Stone says Celsius was supposed to pay him a 20% share of most of that but never did. The problem, according to Stone, was that Celsius mainly took deposits in Bitcoin and Ethereum, but his strategies earned rewards in other coins. That meant that if Bitcoin and Ethereum went up faster than the others, Celsius could end up owing more than it had, even if it was earning money. Celsius also kept track of customers’ deposits in U.S. dollar terms, even if they were actually owed Bitcoin or other tokens, according to the suit. When this error was discovered, it resulted in “a $100-$200 million hole on its balance sheet,” Stone alleged. Celsius raised $50 million in 2018 by selling a proprietary token, CEL, and the company and its executives held large stocks of the cryptocurrency. Stone now claims that Celsius in 2020 used $90 million worth of Bitcoin deposits to “artificially inflate” the price of CEL. He says that let Mashinsky “enrich himself,” and enabled Celsius to borrow against its CEL holdings. He also says that Celsius borrowed 1 billion Tethers from the stablecoin issuer to cover the hole in its balance sheet. Stone says he ended his relationship with Celsius in March 2021 once he discovered the improprieties. In a thread on Twitter, Stone wrote that Celsius “assured me they had risk management and hedging in place. But in late Feb 2021, we discovered Celsius had lied to us.” Read More: Celsius Is Latest Decentralized Finance Crisis to Rock Crypto While he was managing money for Celsius, Stone also ran a popular anonymous Twitter account under the name 0xb1, former employees of the company told Bloomberg Businessweek in January. That account’s collection of nonfungible tokens -- digital art -- gained so much attention that in October, Creative Artists Agency agreed to represent it for licensing deals. 0xb1 paid more than $1 million for the “demon mutant ape” it uses as its profile picture. Stone says in the lawsuit that Celsius allowed him to buy NFTs as a kind of advance on his share of the trading profits. He alleges that after he left the company, Mashinsky transferred some of them to his wife’s wallet. The case is KeyFi Inc. v. Celsius Network Ltd. and Celsius KeyFi LLC, New York State Supreme Court Most Read from Bloomberg Businessweek WeChat Is China’s Most Beloved (and Feared) Surveillance Tool Natural Gas Is Gaining Ground, and the US Has Plenty of It The US Is Thwarting China’s Love Affair With Israeli Tech Using Artificial Intelligence to Predict the Next Covid Variants A Weight Loss Program by Any Other Name Is Still a Diet ©2022 Bloomberg L.P. || Bitcoin (BTC) Fear & Greed Index Leaves BTC at Sub-$20,000: • On Friday, bitcoin (BTC) slid by 3.31% to end the day at $19,249. It was a sixth consecutive day in the red, with the Fear & Greed Index bearish.
• The downside came despite a late NASDAQ 100 relief rally, with bitcoin hitting reverse after the US market close.
• Technical indicators are bearish, with bitcoin below the 50-day EMA.
On Friday, bitcoin (BTC) slid by 3.31%. Following a 0.93% fall on Thursday, bitcoin ended the day at $19,249.
A bullish session saw BTC rally to an early high of $20,818 before hitting reverse.
BTC broke through the First Major Resistance Level at $20,493 before sliding to a late low of $18,952.
The extended sell-off saw BTC test support at the First Major Support Level at $18,974 before a partial recovery to $19,200 levels.
On Friday, the NASDAQ 100 found late support to end the day in positive territory. BTC tracked the NASDAQ through the day before a post-US market close reversal.
For the week, the NASDAQ slid by 4.13%, however, while bitcoin was down 8.48% Monday through Friday.
Crypto headwinds continued to weigh on investor appetite. An anticipated shift in the regulatory landscape, fears of a US recession, and sentiment towards central bank monetary policy remained market negatives.
This morning, the Fear & Greed Index increased from 11/100 to 14/00. Bitcoin’s extended losing streak failed to send the Index to sub-10/100 going into the weekend.
While the upward trend would suggest improving market conditions, the Index has remained within a tight range since falling into the “Extreme Fear” zone.
A move beyond 14/100 and an upward trend towards 25/100 would signal a shift in investor sentiment.
The Index last visited the “Fear Zone” on May 5, when BTC stood at $36,630.
At the time of writing, BTC was down 0.36% to $19,179.
A mixed start to the day saw BTC rise to a high of $19,355 before falling to a low of $19,047.
BTC left the Major Support and Resistance Levels untested early on.
BTC will need to move through the $19,675pivotto target the First Major Resistance Level at $20,396 and the Friday high of $20,818.
BTC would need plenty of support to break back through to $20,000.
An extended rally would test the Second Major Resistance Level at $21,535. The Third Major Resistance Level sits at $23,405.
Failure to move through the pivot would bring the First Major Support Level at $18,529 into play.
Barring another extended sell-off, BTC should avoid sub-$18,000 and the Second Major Support Level at $17,806.
The Third Major Support Level sits at $15,941.
Looking at theEMAsand the 4-hourly candlestick chart (below), it was a bearish signal. This morning, bitcoin sat below the 50-day EMA, currently at $20,220.
The 50-day EMA fell back from the 100-day EMA. The 100-day EMA eased back from the 100-day EMA, bitcoin price negative.
A move through the 50-day EMA would bring the Major Resistance Levels into play.
However, the Friday fall through the 50-day EMA does leave the Major Support Levels in play.
Thisarticlewas originally posted on FX Empire
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• Two injured in Israeli ‘aggression’ targeting Syria’s Tartus – ministry || Sri Lanka Latest: Xi Vows Aid ‘Within Capacity’ to New President: (Bloomberg) -- Sri Lanka’s new President Ranil Wickremesinghe called in the military to maintain “public order” and troops began dismantling a key protest site near the presidential office early Friday, leading to tense scenes with demonstrators. Most Read from Bloomberg Tesla’s Bitcoin Dump Leaves Accounting Mystery in Its Wake WHO Chief Overrules Panel to Call Monkeypox Global Emergency Russian Odesa Missile Strike Tests Day-Old Grain Export Deal VW Billionaire Clan Plotted CEO Ouster as He Was on US Trip Three Arrows Founders Break Silence Over Collapse of Crypto Hedge Fund The oceanfront Galle Face camp was swarmed by hundreds of soldiers and police officials who detained some protesters and tore down the makeshift tents. A nationwide emergency, that allows military and police sweeping powers to arrest and detain people, remains in place. Wickremesinghe appointed Dinesh Gunawardena, an ally of former premier Mahinda Rajapaksa, as prime minister. Wickremesinghe will be finance and defense minister, eroding hopes of an all-party government to revive bailout talks with the International Monetary Fund. The new president was sworn in on Thursday after winning a three-way race in parliament. Sri Lanka’s economic crisis, the worst since it gained independence in 1948, has spiraled into a political crisis as well. Soaring inflation and acute shortages of everything from food to fuel to essential medicines have brought thousands of citizens to the streets. Key Developments Sri Lankan Army Clears Protest Site Before Cabinet Sworn In How Sri Lanka Landed in a Crisis and What It Means: QuickTake Sri Lanka Picks Ex-Leader’s Ally as President, Risking Fury (All times local Sri Lankan) Xi Pledges Aid (4:39 p.m.) China is willing to provide support and assistance within its capacity to Wickremesinghe and the Sri Lankan people, Chinese state TV cites a congratulatory message sent by President Xi Jinping. Xi said he attaches great importance to the development of China-Sri Lanka relations, and believes the country would be able to overcome temporary difficulties and advance its economic and social recovery. Story continues Colombo is asking Beijing for a loan of $1 billion to repay an equivalent amount of Chinese debt coming due this year, Palitha Kohona, Sri Lanka’s ambassador to China, said in an interview to Bloomberg Television July 15. It is also seeking a $1.5 billion credit line to pay for Chinese imports and activation of a $1.5 billion swap, he added. Wickremesinghe Keeps Finance, Defense Portfolios (1:55 p.m.) The president will hold the finance and defense portfolios, according to his office. Wickremesinghe swore in an 18-member ‘interim’ cabinet, similar to the one headed by former-president Rajapaksa, mostly consisting of government allies and some defectors from the main opposition party. One-time finance minister Ali Sabry was given the foreign minister portfolio. Opposition Lawmaker Says President is on “Warpath” With Protesters (12:00 pm.) “The current president is now on a warpath with protesters,” said Rauff Hakeem, lawmaker from the opposition Sri Lanka Muslim Congress, in an interview with Bloomberg Television. “His actions last night show that now he is determined to be a little more oppressive when it requires for him to get his premises cleared.” Wickremesinghe to Keep Finance Portfolio (11:40 a.m.) The president will retain the finance portfolio in the cabinet, according to a person with knowledge of the matter. The position is a crucial one as Sri Lanka looks to talks with the IMF and seeks financial aid from countries like India and China. New PM Takes Oath of Office (10:30 a.m.) Gunawardena, 73, entered politics in 1980s through the nationalist Mahajana Eksath Peramuna party, before allying with the Rajapaksas’ SLPP for the 2020 parliamentary election. He has been foreign minister, education minister, and most recently was minister of public administration and home affairs in Gotabaya Rajapaksa’s government. Opposition Slams Military Action Against Protest Site (8:08 a.m.) Opposition leader Sajith Premadasa denounced reports of the military clearing a key protest site, calling it a “useless display of ego and brute force.” New Sri Lanka Cabinet to be Sworn in Today (7:48 a.m.) A new prime minister and cabinet will be sworn in today at 10 a.m., Wickremesinghe’s personal secretary Saman Ekanayake said. Local media have reported that Dinesh Gunawardena, a close associate of Wickremesinghe, is tipped to become prime minister. He is a lawmaker with a nationalist group aligned with the Rajapaksa’s party. Police Says Key Protest Site Has Been Cleared (7:20 a.m.) The armed forces and police removed protesters from around the presidential secretariat and cleared the area, police spokesman Nihal Thalduwa, told a television news channel. Protesters Say Police Used Force to Disperse Them (7:00 a.m.) Protest leaders took to social media to say that government troops assaulted them with batons while the cleared out demonstrators from the protest site in Colombo. US Ambassador Urges for Restraint by Authorities (5:38 a.m.) Julie Chung, the US Ambassador to Sri Lanka, has urged for restraint by authorities and immediate access to medical attention for those injured. More than a day ago, she said in a tweet looked forward to working with Wickremesinghe as the new president. British High Commissioner ‘Concerned’ About Crackdown (5:08 a.m.) Sarah Hulton, the UK’s envoy in Colombo tweeted to say she was “very concerned” about the reports from the Galle Face protest area. Armed Forces Called in to Keep ‘Public Order’ (00:01 a.m.) Wickremesinghe has called in the country’s military -- the army, navy and air force -- to maintain public order across the island nation. Most Read from Bloomberg Businessweek The $260 Swatch-Omega MoonSwatch Is Reviving the Budget Brand Postmortem Sperm Retrieval Is Turning Dead Men Into Fathers The US Has Lost Its Way on Computer Chips Ghosts of 2012 Haunt Europe as Rate Hikes Begin Sam Bankman-Fried Turns $2 Trillion Crypto Rout Into Buying Opportunity ©2022 Bloomberg L.P. || Are These Cryptos the Next Bitcoin or Ethereum?: While there are literally thousands of cryptocurrencies, when it comes to the big dogs, there are really only two: Bitcoin and Ethereum. Bitcoin is the originalcrypto, created in 2009, and Ethereum was created as a “Bitcoin killer” in 2015. Together, the two comprise nearly two-thirds of crypto’s $1.3 trillion global market cap, with Bitcoin alone comprising nearly one-half.
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Although their prices have been volatile, both cryptos have provided exceptional long-term returns since their respective inception dates. That is part of the reason why investors have been piling into alternative cryptocurrencies, in the hopes of picking out “the next Bitcoin or Ethereum.” But how likely is it that another crypto can rise in prominence like the two market leaders?
Here are three cryptocurrencies that various experts and market analysts thinkhave a shot at being contenders.
Solana quickly became a favorite among traders to become “the next” Ethereum in late 2021, when its price shot up to over $260. Since then, it has fallen dramatically to less than $40 as of June 2022. However, the crypto market in general has been hammered in 2022, and Solana still maintains a market cap of about $13.5 billion, good enough to rank it as the ninth-largest cryptocurrency.
One of the reasons that Solana has often been hyped as a crypto of the future is that it is the only major cryptocurrency blockchain that uses proof-of-history. Proof-of-history is meant to be extremely fast when compared with the proof-of-work protocol used by cryptos like Ethereum, and it also has lower fees.
Solana claims it can process about 50,000 transactions per second, compared with the 15 to 45 transactions per second handled by Ethereum. This can allow Solana to scale up rapidly, one of the major requirements for a coin to catch or even surpass industry leaders Bitcoin and/or Ethereum.
Check It Out:Crypto on the GO
These characteristics have helped Solana win over the confidence of large institutions like JPMorgan Chase and Bank of America, which once said that Solana could become the “Visa of the digital asset ecosystem.”
Currently, Solana runs over 400 projects on its ecosystem, including decentralized exchanges, wallets and other defi projects. Stablecoins like Circle’s USD Coin also run on the platform. Given its low cost and scalability, the future may still be bright for Solana.
Whereas Solana has gained popularity for being faster and cheaper than Ethereum, Cardano aims to beat the top cryptos by being a more environmentally sustainable alternative. Cardano was actually developed by one of Ethereum’s creators, Charles Hoskinson, suggesting that Ethereum may be based on older technology and principles than Cardano.
Indeed, Cardano was designed as the first proof-of-stake cryptocurrency, designed to provide a faster, cheaper, more secure blockchain.
Cardano’s approach is more research-intensive than Ethereum’s, with each stage of its development peer-reviewed and thoroughly tested before implementation. The third-generation crypto is also launching smart contract capabilities, which will help make Cardano more sustainable and scalable. As some analysts describe it, Bitcoin is Crypto 1.0, Ethereum is Crypto 2.0, and Cardano is Crypto 3.0.
Cardano actually sits as the sixth-largest cryptocurrency, with a current market cap of about $30.5 billion. Like most other cryptos, Cardano’s price has been hammered. After peaking at about $3.10 in September 2021, Cardano now sits at just $0.58, demonstrating the immense risk of investing even in market-leading cryptocurrencies.
Polkadot is the 11th-largest cryptocurrency, with a current market cap of about $9.3 billion. Polkadot’s “special talent” is its interoperability, or its ability to connect multiple blockchains together into one network. As part of a single network, these numerous blockchains can exchange information without compromising security by leaving the network. This type of secure protocol is viewed by some as essential to the future of Web3, or the decentralized digital ecosystem.
As with Cardano and Solana, Polkadot aims to perform better than Ethereum when it comes to cost and scalability. But what may differentiate Polkadot from either of these other cryptos is its interoperability.
Unlike many other cryptocurrencies, many investors buy Polkadot not just to speculate on the currency itself but to bet on the success of its underlying technology. If this trend gains momentum, it could help Polkadot’s price remain less volatile than other cryptos, which in turn might attract additional long-term investors.
However, Polkadot still remains quite volatile, falling from a 2021 high of $55 to its current level below $10.
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This article originally appeared onGOBankingRates.com:Are These Cryptos the Next Bitcoin or Ethereum? || Stock Market Today: Dow Sinks 880 Points After Inflation Shocker: one-hundred dollar bill burning Getty Images Speculation that inflation might have peaked earlier this year died abruptly with this morning's release of the Labor Department's latest consumer price index (CPI). And what the data showed was that prices were still rising last month. Specifically, the CPI surged 8.6% year-over-year in May, the fastest pace since December 1981. The sharp rise in consumer inflation was broad-based, but annual increases were particularly stunning in both gas prices (+50.3%) and groceries (+11.9%). On a month-over-month basis, the consumer price index was up 1%, compared to April's 0.3% rise in prices. Both figures were higher than what economists were expecting. SEE MORE UBS's 43 Top Stocks for a Volatile Market Also released this morning was the University of Michigan's preliminary consumer sentiment index for June, which arrived at 50.2 – down 14.2% from May, the lowest value this decades-old indicator has reported. According to the report, 46% of survey respondents pointed to inflation for their negative outlook toward the economy, up 38% from last month. "The crash in sentiment means that consumers are more and more worried about future economic conditions," says Jeffrey Roach, chief economist for independent broker-dealer LPL Financial. "We need to listen to what consumers say but more importantly, we need to watch what consumers do. We do expect a slowdown in consumer spending as inflation and uncertainties weigh heavily on sentiment." Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice. The reports were met with sharp selling on Wall Street. All 11 sectors finished in the red, with consumer discretionary (-4.0%) and technology (-3.8%) suffering the biggest drops. SEE MORE The 10 Best Stocks for a Bear Market As for the major indexes, the Nasdaq Composite slid 3.5% to 11,340, the S&P 500 Index shed 2.9% to 3,900 and the Dow Jones Industrial Average skidded 2.7% to end at 31,392. Story continues stock price chart 061022 YCharts Other news in the stock market today: The small-cap Russell 2000 slumped 2.7% to 1,800. U.S. crude futures shed 0.7% to settle at $120.67 per barrel. Gold futures jumped 1.2% to end at $1,875.50 an ounce. Bitcoin sank 3.4% to $28,966.18. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m.) Netflix ( NFLX , -5.1%) and Roblox ( RBLX , -9.0%) posted sharp losses today after Goldman Sachs downgraded the stocks to Sell. "We downgrade NFLX to Sell as we have concerns around the impact of a consumer recession as well as heightened levels of competition on demand trends (both in the form of gross adds and churn), margin expansion and levels of content spend and view NFLX as a show-me story with a light catalyst path in the next 6-12 months," the analysts write in a note. And while they still view RBLX as the best-positioned name for long-term growth opportunities in the gaming/interactive universe, "we have increasing concerns around the post-pandemic environment and expect a continuation of slowing growth, tough comps, & normalization of margins in the near term." DocuSign ( DOCU ) plummeted 24.5% after the e-signature firm reported earnings. In its first quarter, DOCU reported adjusted earnings per share of 38 cents on revenue of $588.7 million. Analysts, on average, were expecting earnings of 38 cents per share on $581.8 million in revenue. The company also lowered its full-year billings growth estimate to 7% to 8% from prior guidance for 15% growth at the midpoint. "DocuSign pegged the guide-down on a) macro headwinds (customers being cautious about volume expansions across all regions), b) sales execution (high sales rep turnover) c) customers that are still digesting excess capacity (pandemic distortions are still playing out in stocks) and d) a fall-off in rate-sensitive loan / mortgage e-signature volumes, impacting the financial/real estate verticals," says UBS Global Research analyst Karl Keirstead. "We remain on the sidelines with a Neutral rating." The Best Stocks for Sky-High Inflation We'll get a glimpse on how the Federal Reserve will respond to today's red-hot inflation update next week, with the central bank slated to unveil its latest policy decision Wednesday afternoon. "From a Fed perspective, the chase continues, and more aggressive Fed measures will likely be needed to catch up to runaway inflation," says Charlie Ripley, senior investment strategist for Allianz Investment Management. SEE MORE 7 Energy ETFs for High Oil & Gas Prices "Whether this translates to more aggressive hikes this summer, or a continuation of 50 basis point [a basis point is one-one hundredth of a percentage point] hikes this fall is the option for the Fed, but the overall reality for the Fed is that inflation is not under control, and they have their work cut out for them in the coming months," Ripley adds. We've mentioned several times in this space how investors can protect portfolios against inflation . For example, gaining exposure to firms with pricing power or scooping up Wall Street's best dividend stocks are two ways to help mitigate the effects of red-hot inflation on their portfolio. Investors can also drill down on sectors that are typically considered more "inflation-proof" than others – namely, healthcare , consumer staples , utilities and real estate . Here, we've selected some of the top stocks from each of these sectors to create a mini-portfolio that can stand up against higher prices. Take a look. SEE MORE 12 Cheapest Small Towns in America You may also like Why Are Gas Prices Still Going Up? Your Guide to Roth Conversions Gas Prices Around the World || First Mover Americas: Coinbase Layoffs and the 'Bear Market Guide' to Bitcoin: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
Good morning, and welcome to First Mover.I’m Bradley Keoun, here to take you through the latest in crypto markets, news and insights. (Lyllah Ledesma is off.)
• Price point:Bitcoin heads for longest daily losing streak since mid-2016, and $1 billion of trading positions get liquidated ("rekt" in crypto-speak).
• Market Moves:The Fed starts its two-day closed-door meeting, and Wall Street analysts are growing increasingly negative; Bybit releases its "first-ever Bear Market Guide for traders."
Bitcoin (BTC) slid for an eighth straight day, its longest losing streak since January 2016, as U.S. stocks joined cryptocurrencies in abear market.
Some $1 billion of cryptocurrency futures contracts and derivativeswere liquidateddue to margin calls over just 24 hours.
The big U.S. cryptocurrency exchange Coinbase disclosed plans tolay off some 1,100 employees, or roughly 18% of its workforce, as part of a cost-cutting plan. Analysts for the Wall Street firm JPMorgancut Coinbase's stock rating to neutral, and the shares slumped.
"This is very bad, especially for those holding their coins there, but also for the industry as a whole," wrote Mati Greenspan, founder of the cryptocurrency and foreign-exchange analysis firm Quantum Economics, wrote Monday in a newsletter. "There isn't much optimism right now. It's been a very brutal bear market."
European shares traded lower on Tuesday, but U.S.stock futures appeared to be bouncingprior to the open of trading in New York. Gold was down 0.5% to $1,823 an ounce; crude oil rose 1% to $122 a barrel.
The 10-year U.S. Treasury bond yield was down a 0.06 percentage point to 3.31%.
Read More:Morgan Stanley Says Ether Underperformance Echoes Crypto Downturn of 2018
The Federal Reserve's campaign to tighten monetary conditions – to help contain inflation running at its fastest in four decades – has put extreme pressure on assets across the board, from cryptocurrencies to stocks and bonds.
The U.S. central bank starts a two-day closed-door meeting on Tuesday, and traders are speculating over its likely decision, to be announced Wednesday at 2 p.m. ET.
Fed officials had telegraphed the likelihood of a 0.5 percentage point increase, but now some analysts are warning that a hike of 0.75 percentage point or even a full percentage pointmight be in the cards.
The "S-word" (stagflation) is on the lips of investors: "We believe we're moving toward an environment of persistent high inflation coupled with weak real growth. In other words, stagflation," Kyle Delaney, president of the giant hedge fund Bridgewater, wrote in a communiqué to investors.
Fitch, the bond-rating service, cut its estimate of global gross domestic product growth in 2022 by 0.6 percentage point to 2.9%. "Global inflation pressures continue to intensify, with increasingly adverse implications for the growth outlook," wrote Brian Coulton, Fitch's chief economist.
Underscoring the theme du jour, the crypto exchange Bybit unveiled its "first-everBear Market Guidefor traders."
"Featuring a contemporary design that draws inspiration from popular culture, the guide shares a pool of resources that can help investors put the bear market situation into perspective," Bybit said in a press release from Seychelles.
In the current economic environment, what else is there for a trader to do?
• Morgan Stanley Says Ether Underperformance Echoes Crypto Downturn of 2018Expectations of higher Fed interest rates are weighing on crypto prices, the bank's analysts said.
• Cryptos See Over $1B in Liquidations as Bitcoin, Ether Lose Major Support LevelsBitcoin lost the $25,000 level, while ether briefly slid to nearly $1,200.
• Web 3 Service Provider ScienceMagic.Studios Raises $10.3M From Coinbase Ventures, DCG, OthersScienceMagic.Studios aims to help early-stage Web 3 companies create a brand and engage in communities.
• NY City Mayor Eric Adams Wants State's Governor to Veto 2-Year Moratorium on PoW Mining: ReportThe city's pro-crypto mayor plans to ask Gov. Kathy Hochul to veto a bill that would stop proof-of-work mining for two years.
Today’s newsletter was edited by Bradley Keoun and produced by Parikshit Mishra.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 21239.75, 22930.55, 23843.89, 23804.63, 23656.21, 23336.90, 23314.20, 22978.12, 22846.51, 22630.96
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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 2015-07-17]
BTC Price: 279.47, BTC RSI: 56.70
Gold Price: 1131.80, Gold RSI: 30.32
Oil Price: 50.89, Oil RSI: 30.85
[Random Sample of News (last 60 days)]
Fearing return to drachma, some Greeks use bitcoin to dodge capital controls: By Jemima Kelly LONDON (Reuters) - There is at least one legal way to get your euros out of Greece these days, to guard against the prospect that they might be devalued into drachmas: convert them into bitcoin. Although absolute figures are hard to come by, Greek interest has surged in the online "cryptocurrency", which is out of the reach of monetary authorities and can be transferred at the touch of a smartphone screen. New customers depositing at least 50 euros with BTCGreece, the only Greece-based bitcoin exchange, open only to Greeks, rose by 400 percent between May and June, according to its founder Thanos Marinos, who put the number at "a few thousand". The average deposit quadrupled to around 700 euros. Using bitcoin could allow Greeks to do one of the things that capital controls were put in place this week to prevent: transfer money out of their bank accounts and, if they wish, out of the country. "When people are trying to move money out of the country and the state is stopping that from taking place, bitcoin is the only way to move any value," said Adam Vaziri, a board member of the UK Digital Currency Association. "There aren't any other options unless you buy diamonds, and that's very difficult to move." But Marinos said the bitcoin buyers' main aim was to shield their money against the prospect that Greece might leave the euro zone and convert all the deposits in Greek banks into a greatly devalued national currency. If voters reject the demands of international creditors in a referendum on Sunday, this becomes much more likely. "A lot of people are keeping all the bitcoins they buy on our platform, until they understand what to do with them," Marinos said. "In their eyes, now they have bitcoins, they're safe." VOLATILE CURRENCY That said, the value of a bitcoin, a web-based digital currency invented six years ago that floats freely and is not backed by a government or central bank, has been highly volatile. It peaked at over $1,200 in late 2013 before crashing almost 70 percent in less than a month after a hacking attack on the Tokyo-based bitcoin exchange Mt. Gox in early 2014. Story continues This week, as Greece defaulted on a debt to the IMF, the price jumped to a 3-1/2-month high of $268 (BTC=BTSP) on the Bitstamp exchange - up more than 20 percent since the start of June - while the number of daily transactions reached a record 150,917. Most bitcoin-watchers reckon the digital currency's rise is mostly due to speculators betting that capital controls would trigger heavy demand. In March-April 2013, when Cyprus clamped down on bank withdrawals, bitcoin rocketed almost 700 percent. Coinbase, one of the world's biggest bitcoin wallet providers, which is not currently accessible to Greeks, said it had seen huge interest from Italy, Spain and Portugal. It said the average daily sign-ups from euro zone countries had increased 350 percent since the start of June. Average daily bitcoin purchases from the euro zone this week were up 250 percent compared with June's average. On June 20, Greece got its first bitcoin "ATM", in a family-run bookstore in Acharnes on the outskirts of Athens. There, if they had them, customers could insert euros and in return receive bitcoin at the current exchange rate, which they would scan into an electronic "wallet" on their smartphones. But with Greeks having to form long queues at bank ATMs just to receive a meager 60 euros' cash a day, this machine has seen no customers since talks with creditors broke down on Saturday. "Before Saturday, there was some very limited interest, mostly customers asking what it does and how it works," said Maria Varila, an employee in the shop. "Since Saturday, however, when all hell broke loose, there has literally been zero interest." (Additional reporting by Lefteris Karagiannopoulos and Dimitrios Michalakis in Athens; Editing by Kevin Liffey) || Could Marijuana Help House Prices?: In states where marijuana has been legalized, many homeowners have complained that the opening of pot dispensaries could bring down property values. However, in Colorado, where both medical and recreational marijuana has been legalized, some claimthe opposite is true.
New Jobs
In Denver, home prices have risen 10 percent since March 2014, according to the S&P/Case-Shiller Home Price Index.Some saya large part of that rise can be attributed to the marijuana industry.
The new industry has created thousands of jobs across a variety of sectors. Not only are businesses directly linked to pot – like growers and dispensaries – taking on new employees, but security companies, electricians and hotels have all seen an influx of business due to marijuana.
Related Link:Marijuana Industry Blazes The Path For A New Kind Of Lawyer
Access To Marijuana
The rental market in Colorado has also been booming as people from out of state come in looking for access to marijuana. Some families are interested in obtaining medical marijuana to treat a chronic condition, while others are keen to live in Colorado to enjoy the relaxed lifestyle the new laws permit.
Still Some Concern
While the real estate market in Colorado appears to be booming, some warn that it will fizzle as the long-term problems with pot settle in.
For one, laws allowing people to cultivate up to six plants means prospective buyers will need to look for a new set of issues when it comes to home inspections. Buyers will need to check for tampering with the home's electrical systems and mold issues associated with marijuana growing before committing to a new home.
Another concern is increased traffic in neighborhoods where marijuana is being grown. Many people disregard the state's limit of six plants and set up illegal grow houses, which could decrease the value of properties in the area.
Image Credit: Public Domain
See more from Benzinga
• Have You Met The Bitcoin Booty Girls?
• AgriScience Makes Smart Soil To Improve Farming
• Dutch Bank Issues Europe's First Certified Climate Bond
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin May Not Go Mainstream, But Blockchain Will: The challenges associated with using a cryptocurrency have kept much of the public from rushing to adopt bitcoin. Issues related to trust and security have plagued the digital currency after several widely publicized scams painted bitcoin as a tool for criminal activity. However, while the general population has been slow to adopt digital currencies themselves, blockchain, the system bitcoin runs on, could have a place in everyday life. Blockchain In Banks Banks have been receptive to the possibility that blockchain could vastly improve their outdated systems. UBS (OTC: OUBSF) has already jumped on board the concept by setting up a research lab in London that focuses on how blockchain can be used in banking. Related Link: "Dope" Becomes The First Movie To Allow Bitcoin Ticket Sales Now, Banco Santander, S.A. (ADR) (NYSE: SAN ) is similarly exploring how blockchain could revamp its business with a research team called Crypto 2.0. The Spanish bank believes there is potential for using blockchain to do things like facilitate international payments and develop smart contracts. Regulation Will Weigh Down Progress Head of Santander's fintech investment fund InnoVentures, Mariano Belinky told Business Insider that the bank could develop a working prototype system that would facilitate real-time international payments in a matter of months, but that it would likely take much longer to pass such a system through the financial sector's strict regulations. The bank says it would also need to partner with a few like-minded banks across the globe in order to make the new system viable, but has already been in talks with several other institutions about the possibility. See more from Benzinga Insurers Caught In 5-Way Courtship Competition The Video Streaming Space Is Getting Crowded Marijuana's Pesticide Problem © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Under Attack?: The recent turmoil in Greece, which has included the government institution of withdrawal limits at major banks, should have presented a major opportunity for bitcoin to gain positive media attention. With Greek citizens flocking to buy bitcoin during bank closures, the virtual currency should be enjoying media exposure as a stable, safe alternative currency for the Greek people.
Rough Weekend
Instead, this week has been disastrous for bitcoin. This past weekend, untimely software updates at bitcoin delayed payment confirmations by up tofive hours. However, at least those issues were not malicious.
Related Link:Wedbush Predicts A Bright Future For Bitcoin
Under Attack
For the past couple of days, bitcoin has been under attack by... someone. According toThe Merkle, the Denial of Service (DoS) Attack this week on the cryptocurrency has been bogging down the bitcoin blockchain, the public record of bitcoin transactions.
How It Works
The responsible party is performing dozens of transactions per minute involving minuscule amounts of bitcoin (0.00001 BTC). Because of the tiny amount of the currency that is involved in each transaction, the spamming efforts are costing the perpetrator only about $0.08 per pop, but the constant barrage of orders has single-handedly filled up each 1 MB block that enters the blockchain.
Who Is Responsible?
When the largest bitcoin transaction ever made was processed on Tuesday, onlookers initially suspected the Chinese bitcoin mining group F2Pool of orchestrating the attack. However, according to Motherboard, F2Pool was simply trying to clear out the spam by mining the huge, 999KB block.
What Now?
Unfortunately, in the digital world of cryptography, it can be nearly impossible to determine the identity of the attackers in a scenario such as this one. For now bitcoin must simply try to figure out the best way to stop the attack and/or roll with the punches.
See more from Benzinga
• Gartman: We're Headed Toward 'Fruits Of Fracking,' Net Exports In U.S. Oil
• Exclusive: 2015 Sentiment Analysis Symposium Preview
• Greece Is Bad, But China Is Much Worse
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || MovieTickets Sees Benefit In Adding Bitcoin: Weeks after MovieTickets.com included bitcoin as a payment option for ticket purchases, the company said it had already begun to reap the rewards.
MovieTickets CEO Joel Cohensaidthat the decision to include cryptocurrency payments has given the company more exposure as well as increasing sales.
The site allows users to purchase any available movie tickets using the cryptocurrency, and it appears consumers are taking advantage of that option.
Adding Bitcoin
MovieTickets is one of the most popular online ticket-purchase websites in the US with around 240 different theater chains offering film tickets on the site. As mobile payments gain traction, the site found itself adding new check-out options; and with support from Open Road Films and its new film Dope, the site decided to include a bitcoin option as well.
Bitcoin Exposure
The site's bitcoin integration represented a major step toward mainstream adoption for bitcoin as it put the cryptocurrency in front of thousands of people who may not have otherwise considered using it. To date, Cohen says the company has processed "several hundred" bitcoin transactions.
Paving The Way
MovieTickets said that one of the biggest hurdles in incorporating bitcoin was educating theater owners on the process. With many of them wary of the cryptocurrency or simply unaware of it at all, the site had some difficulty getting everyone comfortable with using bitcoin.
For the moment, bitcoin transactions remain only a small fraction of MovieTickets' sales, but Cohen says he expects to see that figure continue to increase as the currency becomes more widely accepted.
See more from Benzinga
• Marijuana Takes On A New Role In Presidential Campaigns
• Will There Be A Nuclear Deal With Iran?
• Should Tech Firms Be Allowed To Hide Customer Data From The FBI?
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || New Study Shows Marijuana May Help Fight Cancer: Israel-based One World Cannabis Ltd. has developed a cannabinoid-based drug therapy that was shown to be effective in fighting multiple myeloma cells. In clinical trials, a combination of cannabidiol (CBD) and tetrahydrocannabinol (THC) was able to decrease the survival of cancerous cells, a big step for the medical marijuana community. Promising Results Multiple myeloma is a cancer of plasma cells in bone marrow and its suffers make up 1 percent of cancer patients around the world. The disease is responsible for 2 percent of the world's cancer-related deaths. The company's first basic study had promising results against the cancerous cells, and One World is planning to submit those results for an institutional board review. If approved, the company plans to explore how different CBD and THC combinations can help improve the quality of life for patients suffering from multiple myeloma cancer. Related Link: Marijuana A Promising Treatment, But Research And Development Still Limited New Delivery One World is also working on a new delivery system that would make medical marijuana easier for doctors to administer. The company has developed a cannabis dissoluble tablet that allows doctors to more closely monitor dosage, unlike current methods like smoking and ingesting edibles. Medical Marijuana Advancement The study serves as a step forward for medical marijuana, as scrutiny over the benefits of the drug has kept several states from legalizing its use. Also, providing marijuana treatments in tablet form could make cannabis-based treatments more acceptable as it gives the patient and the doctor more control over how much is being ingested and provides a healthier alternative to smoking. Image Credit: Public Domain See more from Benzinga New Software Makes It Harder To Use Bitcoin For Criminal Activity Summer Budget Wars Begin With Defense Spending Will Wal-Mart Greeters Increase The Company's Bottom Line? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || US$160M C&W Investment for Barbados: BRIDGETOWN, BARBADOS--(Marketwired - Jul 16, 2015) - C&W is investing US$160M in Barbados as the Company rolls out its new retail brand Flow on the island as part of its merger with Columbus Communications. Barbados is the first country to launch the newly combined retail brand. Niall Sheehy, Country Manager of the 'new' Flow, revealed a number of significant developments for Barbados. "What we have today is the product of two legacies working in unison to meet our customers' needs," said Sheehy. Under the new consumer brand Flow, the company has combined the strengths of the former LIME and Flow organisations and is positioning Barbados as the first country in the world with 100% Fibre-to-the-Home (FTTH) broadband connectivity. The FTTH network will allow the Company to bring new and cutting edge services to its customers. As a start, customers will receive telephone (mobile and landline) video, audio, television and just about any other kind of digital data stream using Flow's comprehensive FTTH broadband connection. Sheehy indicated that the consumers will benefit from bundling of products, new and exciting apps and the ability to access products and services from a variety of platforms, via its network. Sheehy also outlined other aspects of the company's investments in Barbados as the Company rolls out its new consumer brand. "We have already moved into our new corporate home in Warrens (formerly the Orange Mall) and on August 1, we will officially transition from our Customer Care Centre at SkyMall to a new retail store under the Flow brand. This new retail outlet will serve as the touch-point for all our products and services of the combined entity," he said. "Customers will still be able to access a full Flow Customer Service Centre at Windsor Lodge (formerly LIME)," added Sheehy. "These changes are part of a wider plan to ensure that our newly combined company meets our stated goal of putting the customer at the heart of what we do." Story continues Sheehy also informed that the company is currently transitioning all of its products and services to the Flow brand. He noted that the transition phase will take some time, during which customers may still see communications using the former LIME and Flow brands. 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 $2.4 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, CWC 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, 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 7,500 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; TV 430k and Broadband 650k) 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: http://www.cwc.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 || All the 'Silicon Valley' cameos that only tech geeks will notice: The season two finale of “Silicon Valley” aired last night on HBO. In honor of the show completing its sophomore year, here’s a list of some of its most notable cameos:Evan SpiegelThe Snapchat co-founder and CEO makes a not-so-subtle appearance in this season’s first episode. While eulogizing the eccentric billionaire Peter Gregory, Spiegel quips: “That’s just the kind of guy he was—warm, generous, and not disappointed in Snapchat.” The remark is likely a reference to a comment made by Peter Thiel (the real life entrepreneur the Gregory is based on) who called Snapchat’s 2013 photo hack “especially problematic."Cameron and Tyler WinklevossOne of the more amusing cameos from the second season’s premiere, “Sand Hill Shuffle,” involved the Winklevoss twins of Facebook/Bitcoin fame. Erlich, the show’s resident Silicon Valley know-it-all, spots the Winklevi at a swanky party. “They’re like two genetically enhanced Ken dolls,” he says running after them.
Drew HoustonThe Dropbox CEO makes an appearance at the same party, which, in the show, is thrown by a venture capital firm at AT&T Park, home of the San Francisco Giants. Though in the presence of Giants draft picks Tyler Beede and Skyler Ewing (more cameos!) the Pied Piper guys are more interested in (tech) giants like Houston.Justin Rosenstein“We in technology have a greater capacity to change the world than the kings and presidents of even 100 years ago.” Unfortunately, that’s not a line from Rosenstein’s “Silicon Valley” cameo. It’s actually from his infamous 2014 TechCrunch talk, dubbed the “worst tech speech ever” by the tech news site BGR. Rosenstein has worked as an engineer at Google and Facebook, and created the communication app Asana. In the show he plays himself as a mourner at Peter Gregory’s funeral. The cameo-heavy episode is said tomirror Steve Jobs’ star-studded memorialservice in 2011 .Kara Swisher and Walt MossbergThe co-executive editors of Re/Code, a news site that covers all things Silicon Valley, appear as themselves in the episode, “Bad Money.” Set at the Re/Code Code Conference, they interview the fictional bad guy Hooli CEO, Gavin Belson, as he compares the plight of Jews in Nazi Germany to the “plight” of billionaires in America.Jason KincaidAnother real tech journalist appears in episodes seven and eight of season one, at the TechCrunch Disrupt startup competition (also a real thing).Howard L. MorganA venture capitalist famous for his early participation in the technology boom also appears at the fictional version of the conference.Michael ArringtonThe founder of TechCrunch pops up in the season one finale at the Disrupt conference. Arrington has spoken infavor of dropping out of college, kind of like Peter Gregory does in the show’spilot episode(Gregory's real life counterpart does this too through hisThiel Fellowship).Eric SchmidtThe Google exec makes a brief cameo in the first episode where he throws a party – albeit a dull one – to celebrate an acquisition. That brings us to…Kid RockNo, it wasn’t a geeky tech CEO or super-successful venture capitalist who made the first cameo in the series, but a bona fide rock star. Kid Rock performed at Schmidt’s fete... and no one actually cared. “Kid Rock is the poorest person here, apart from you guys!” Erlich tells his friends at the party.What’s more, the Kid’s proclamation before walking off stage, “f*** these people,” could arguably serve as a thesis statement for the entire show. || C&W Unveils the 'New' Flow and Creates History in Barbados: BRIDGETOWN, BARBADOS--(Marketwired - Jul 16, 2015) - Telecoms history was made in Barbados today as Cable & Wireless Communications (C&W) officially launched its retail brand, Flow, for its newly combined consumer group. The 'new' Flow will deliver a compelling set of quad play products and services via its Fibre to the Home (FTTH) infrastructure set to reach 100% of Barbados homes by year end. This will make Barbados the first country in the world to have 100% FTTH coverage. "We are pleased to usher in a new culture of innovation and technical excellence, backed by major investments in our Fibre to the Home infrastructure," said John Reid, President of C&W Consumer Group. With our combined strengths, Barbados consumers will have access to the most technologically advanced quad play products in the region, through our mobile, video, landline and broadband services. Reid also said that the foundation of the new Flow brand strategy was consistent with the positive characteristics of the Caribbean. "We are driven by all that is positive in the Caribbean," he said. "The people, the passion, and the drive to succeed. Against that backdrop, we commit to continue our focus on innovation, technical excellence and great customer service." Flow also unveiled plans to become #1 for customer experience in Barbados and the region. According to Niall Sheehy, the Country Manager for Flow Barbados, "Flow will realise this bold vision by making significant changes across our operations to drive an outstanding customer experience, which will extend beyond the obvious frontline transactions." Sheehy said that, "In all departments and in each role the goal will be to put the customer first in every aspect of our business." The 'unveil' of the new brand, follows the announcement in March by C&W to merge its operations with Columbus International. C&W will follow this inaugural launch throughout the Caribbean on a phased, country-by-country basis over the next twelve months. Story continues 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 $2.4 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, CWC 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, 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 7,500 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; TV 430k and Broadband 650k) 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: http://www.cwc.com .
[Random Sample of Social Media Buzz (last 60 days)]
In the last 10 mins, there were arb opps spanning 21 exchange pair(s), yielding profits ranging between $0.00 and $2,259.17 #bitcoin #btc || In the last 10 mins, there were arb opps spanning 18 exchange pair(s), yielding profits ranging between $0.00 and $1,300.96 #bitcoin #btc || buysellbitco.in #bitcoin price in INR, Buy : 17651.00 INR Sell : 17105.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || In the last 10 mins, there were arb opps spanning 12 exchange pair(s), yielding profits ranging between $0.00 and $2,010.42 #bitcoin #btc || buysellbitco.in #bitcoin price in INR, Buy : 15292.00 INR Sell : 14816.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || #RDD / #BTC on the exchanges:
Cryptsy: Error
Bittrex: 0.00000005
Average $1.3E-5 per #reddcoin
05:00:01 || In the last 10 mins, there were arb opps spanning 25 exchange pair(s), yielding profits ranging between $0.00 and $1,952.24 #bitcoin #btc || buysellbitco.in #bitcoin price in INR, Buy : 17122.00 INR Sell : 16575.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || buysellbitco.in #bitcoin price in INR, Buy : 16385.00 INR Sell : 15870.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || LIVE: Profit = $1,506.43 (1.90 %). BUY B341.74 @ $231.40 (#Bitfinex). SELL @ $232.00 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org
|
Trend: up || Prices: 274.90, 273.61, 278.98, 275.83, 277.22, 276.05, 288.28, 288.70, 292.69, 293.62
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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)]
Another Bitcoin Mining Firm Warns COVID-19 Pandemic May Harm Its Business: Hut 8 Mining Group, a publicly traded cryptocurrency mining firm, is concerned about coronavirus-related delays of new machine deliveries from potential suppliers such as Bitmain and MicroBT.
During an earnings call last week, CEO Andrew Kiguel said his firm was grappling with a vague timeline for the delivery of crypto mining machines to support its farms, saying that while in February, “you thought” machines could be delivered between March and April, these timelines have since shifted due to the ongoing pandemic. He did not have a revised timeline either.
His remarks follow guidance from competitor Riot Blockchain,which also warnedthe novel coronavirus outbreak would impact its business operations.
Related:What the Economy Will Look Like 6 Months From Now, Feat. Ryan Selkis
“Three or four weeks ago, nobody thought these things would be an issue, and the world is grappling right now with different supply chain issues like getting ventilators and masks around the world as opposed to bitcoin mining machines,” Kiguel said.
Bitmain was one of several Chinese miner manufacturers that warnedas far back as January– close to eight weeks ago – it would be forced to delay deliveries due to the coronavirus outbreak.
Bitmain has since resumed operations, though its delivery timetable is still unclear.
Hut 8 Mining Group, one of the few publicly traded mining firms in the U.S., is also closely watching the upcomingbitcoinhalving in hopes of appropriately scaling the size of its mining farm.
Related:Andrew Yang Says Current Stimulus Payments to Americans Aren’t Enough
The Canadian firm is set to have a higher stake in the bitcoin market after launching its core operation in the middle of 2018 and acquiring facilities to boost its mining power last year. According to its year-end report for 2019, released on Monday, Hut 8 saw $58.6 million in revenue, up by 66 percent from the prior year, thanks to larger capacity and higher bitcoin price.
This places it as one of the productive miners in North America among its competition, including the Colorado-based Riot Blockchain.
Hut8’s coronavirus concerns come as the firm prepares for bitcoin’shotly anticipated halving, tentatively set to occur in mid-May.
“There’s a lot of different scenario planning that we’ve done,” Kiguel said.
• Bailouts Don’t Save the Economy. They Prop Up Companies That Should Be Allowed to Fail
• For Contact Tracing to Work, Americans Will Have to Trust Google and Apple || Bitcoin News Roundup for Thursday, April 9, 2020: Bitcoin (BTC) is back above $7,100 and we ask what will happen when the halving comes. Its CoinDesks Markets Daily. Todays Stories: First Mover: Bitcoin Cashs Halving Was Dull Bitcoins May Be Much the Same Related: Bitcoin Halving: How Miners are Preparing for Lower Block Rewards Bitcoins Bull Case Strengthens After Breaching Price Hurdle at $7.1K Crypto Trading Volumes Rise in India After Banking Crisis, COVID-19 Lockdown Bitcoin Miner Maker Canaan Lost $148M in 2019 For early access before our regular noon Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica or RSS . Related Stories Quantitative Tightening and 5 Key Questions for Our Changing World Rebuilding the Resilience Economy, Feat. Anthony Pompliano If Bitcoin Works in Zimbabwe, It Works Everywhere (Part 4 of a Six-Part Documentary Podcast Series) || The Man Who Forecast a Currency Cold War: Many of the impacts of COVID-19 are easy to grasp. Every day we see the gutting news: the rising body count, the millions of unemployed, the makeshift morgues in public parks. We grieve for those we have lost. We worry about those who are vulnerable. We’re sick of staying at home. We miss restaurants and pubs.
And then there are the second-, third- and fourth-order impacts. These are tougher to spot. In the blizzard of news from the U.S. emergency stimulus package, for example, it was easy to overlook a fairly shocking proposal from the House of Representatives: that the COVID-19 relief money (aka the $1,200 checks) could be digitally zapped to Americans instead of going through traditional banks.
As CoinDesk’s own Michael Casey writes in the forward to “The Currency Cold War, “the “half-baked proposal was subsequently removed, but it marked a dramatic widening in the Overton window of what is open to discussion. A digital dollar is now on the table.” Meanwhile, in another corner of this emerging conflict, libra looms large. And China gets ready to launch its central bank digital currency (known as the DCEP).
Related:4 Ways COVID-19 Will Bring Banks and Regulators to Crypto
The upshot? COVID-19 could ignite something of a digital currency war.
See also:Money Reimagined: As Tech, Politics and COVID-19 Collide, a Global Reset Looms
Good thing someone just wrote a book about that exact possibility. Fintech guru David Birch, a consultant and prolific speaker on the blockchain conference circuit, wrote “The Currency Cold War: Cash and Cryptography, Hash Rates and Hegemony,” just in time for our global pandemic. He nailed the timing. For years Birch had his own pet theories about a clash of digital currencies. But “that was just me, just some guy talking about it,” he tells me in his British accent, which seems always on the verge of a sly joke. “And who cares, you know?”
Then came Jackson Hole.
Related:Marketing Ethereum 2.0 and Herding Cats With Hudson Jameson
In the fall of 2019, at a Jackson Hole, Wy., event Birch describes as a “Burning Man for people who run central banks,” the Governor of the Bank of England, Mark Carney, said that perhaps it was time for some form of “synthetic hegemonic currency” to deal with what he called the “destabilizing dominance” of the U.S. dollar.
This comment seemed to galvanize Birch. “The Governor of the Bank of England is emphaticallynotjust some guy,” Birch says. He realized the Currency Cold War was not just his own pet theory – it was imminent. It might already be happening. And it has consequences. Which currency would society choose? Would it be one or many?
It’s crazy. What the f— are they doing mailing out checks to people?
“Which digital currency?” Birch writes in “The Currency Cold War.” “Will we really be choosing between the Federal Reserve and Microsoft (between dollar bills and Bill’s dollars)? Between Facebook’s Libra and China’s Digital Currency/Electronic Payment (DCEP) system? Between spendable drawing rights (SDRs) and Kardashian kash?”
Regular readers of CoinDesk, of course, already know cryptocurrencies could compete with traditional fiat. That idea is not new. Birch takes the next logical step by asking, effectively, what happens when the rubber hits the road? Let’s pretend we get a Facebook libra or a digital yuan. How would that change the world order? What would that mean to a farmer in Africa, or what would it mean for the United States’ ability to throw around its muscle?
In the book, Birch frames the hypothetical conflict of a digital yuan vs. Facebook libra as “Red vs. Blue,” in a cheeky nod to thecult videosinspired by Halo. (Birch even asked the publisher if they could call the book “Red vs. Blue,” and they politely told him he was crazy.)
Red vs. Blue? Crypto vs. Fiat? Public vs. Private? On a quarantine-Zoom call a few weeks before appearing atConsensus Distributedon May 11 at 9 a.m. ET, Birch explains why the currency Cold War matters, how it impacts global “soft power,” and why you might see things like IBM Money…or an Islamic Money that cannot be used to buy alcohol.
CoinDesk: Your book seems incredibly prescient. How does COVID-19 impact a potential digital currency war?
David Birch:I wouldn’t have wished it this way, obviously, but yeah, COVID-19 might have done me a bit of a favor. You must admit that to somebody outside of the U.S., the idea that government stimulus money will arrive in the form of checks beingmailed in the postto people seems odd.
This is like having an economic stimulus for the Little House on the F–ing Prairie. It’s crazy. What the f— are they doingmailing out checksto people? So the idea that the government could provide a stimulus just by sending money directly into people’s wallets — not even into their bank accounts, but directly into their wallets — that’s really interesting. That might well provide an incredible stimulus to digital currency that none of us saw coming.
See also:How a Flurry of ‘Digital Dollar’ Proposals Made It to Congress
In the book you consider the possibility of the U.S. dollar losing its dominance. What are the implications?
Birch:I think you need to divide it into two categories. So there’s what does it mean in financial terms? And of course, America’s ability to denominate its own debt translates into a tremendous fiscal advantage. So if America couldn’t do that, it couldn’t just print its way out of problems. This is what General [Charles] de Gaulle rather famously referred to as America’s “exorbitant privilege.” And that has implications for trade.
But I think what’s more interesting are the non-financial implications.
Such as?
Birch:America’s ability to exercise soft power. I stress that I’m not making a political point. But for example, do you remember a few months ago, America threatened to cut Turkey off? I can’t even remember what the dispute was about…
Who can? There were 17 crises between now and then! [Editor’s note: This would be the U.S.threatening to cut Turkeyfrom an F-35 stealth fighter jet program.]
Birch:Yeah, a lifetime of crises ago. But the point is that if I’m some country, and America says you have to do something I don’t particularly want to do, I have to do it because otherwise I can no longer buy imports and I get cut off from the global financial system. But what if there was something that was a bit like money but it just wasn’t run by the Americans?
Or let’s say you’re a country in Africa. You sell most of your oil to China, so you decide to price your oil in yuan. You sell your oil in digital yuan. The U.S. Treasury wants to sanction you for doing something, what do you care? You don’t use their stupid dollars anymore. None of your money goes through the New York money central banks, so what do you care? There are several countries, I’m sure, that actively would like that to happen.
How could this impact an average person?
Birch:Let’s say you’re a farmer in Africa. And you’re buying tractors and things from China, and you’re buying fertilizer from China, and you’re supplying food to Chinese companies that are building ports and whatever else things companies do.
You’ve got the choice between getting paid in your local currency, which you may not be too happy about because it may be a little volatile — it may be depreciating or it may have currency controls attached to it. Or you could get paid in U.S. dollars, except you’re not allowed to have a U.S. dollar bank account. And even if you did have a U.S. dollar bank account, when you decide to send some money to your cousin in Afghanistan you can’t, because it gets blocked by the U.S. Treasury.
Or maybe you have a wallet on your phone where you can store your Chinese digital currency. Given those choices, I can understand why a great many people, particularly along China’s emergingBelt and Road, I can see why some of those people would make that choice. I’m sure you can, too.
I personally feel that money is so important that it has to be under democratic control.
In the book you talk about “Red vs. Blue,” and I totally got the Halo reference, by the way.
Birch:It was Halo, yeah! [Laughs.] I thought it was hilarious but no one knew what I was talking about. I’m so old. It fell completely flat. I wanted to call the book “Red vs. Blue,” but my publisher, who knows a lot more about selling books than I do, said, “It’s absolutely meaningless. No one will know what you’re talking about.”
So whatdoesRed vs. Blue mean, outside of Halo?
Birch:It’s the difference between private and public. So if I take Facebucks, which is what I always call them… I think it’s a much better name [than libra]. How come I know more about marketing than Mark Zuckerberg? I don’t get it.
If I take Facebucks, I take Facebucks because I think other people are going to take Facebucks. That’s how money works. And there could be 2.5 billion people around the world who are perfectly happy to accept Facebucks. Zuckerberg said his vision was that sending money would be just as easy as sending a photo. Well, if that were true, if that vision was realized, that would be great, right?
I mean, everyone would use that, wouldn’t they? So is that a bad thing? Well, you know, if you run a government and you want to have some control over things, you’d probably think that was a bad thing, right?
I can see it argued either way…
Birch:Now, if I’m the government, actually, I might be okay with that as long as certain criteria are met, like [know-your-customer]. But I can’t help but feeling… even if Facebook did that, I mean, would you have your salary paid in Facebook money?
Right.
Birch:Or If you get chucked out of Facebook, who’s the ombudsman you call? You see people all the time get banned from Twitter and they can’t figure out why. What would happen with Facebucks? Like, what happens if you wake up one morning and, all of a sudden, Facebook won’t let you send money to anybody? What do you do about it?
Or would this give Facebook too much “soft power,” a consideration you raise in the book?
Birch:I personally feel that money is so important that it has to be under democratic control. Now, that’s not the same thing as saying that money has to be run by thegovernment, because I don’t think I agree with that. But I do think money should be under democratic control. I’m sure you must get into this argument all the time with the bitcoin maximalists.
Can you elaborate? Why is democratic control so important?
Birch:Well, why don’t you get one of the bitcoin guys to write an article which explains to me how you would respond to the COVID-19 pandemic? I mean, I’ve seen them on Twitter, and they’re like, “Well, it just means the people who didn’t save money will go to the wall.” This is teenage. It really is. It’s angry white male West Coast teenage pseudo-libertarianism.
In the book you talk about “very smart money,” which could involve not only cryptography but biometrics. How do you envision this?
Birch:So smart money is money that has apps, right? Very smart money is money that has coordinated apps that function to the benefit of all of the stakeholders. Here’s an example that I tried to use in the book. Suppose you have digital currency that’s effectively anonymous, right? Like with z-cash, it can be either anonymous or non-anonymous. So I can send money to you anonymously. But if I send money to you anonymously, then when you receive the money, there’s an automatic 20% withholding tax which goes to the government to compensate for criminality and money laundering, or that sort of thing.
See also:Chris Giancarlo – Don’t Rush Digital Dollar During COVID-19 Crisis
The libertarians would love that! What’s another example?
Birch:You could imagine money where, if both of us are behaving ourselves, then everything is anonymous. But if one of us does something wrong — like I steal your money and run away with it — then you can unblind the transactions. You can break the glass, basically.
Interesting.
Birch:I’ve always thought that the smart contract layer will be where the real innovation would come from, and I do still believe that. But now I’ve started to think, well, if those smart contracts were kind of coordinated and organized, then you could make money that’s really smart. Not money that just has simple triggers, simple little apps. What if I introduced an Islamic money? And the Islamic money can never be used buy alcohol, for example? A lot of people would prefer to use that kind of money, right?
Or a parent who gives an allowance to a kid that can’t be used to buy R-rated movies or whatever. That gets into money as censorship, and an Orwellian dark side pretty quickly…
Birch: If the tools are there, people who are much cleverer than me will come up with some amazing applications, I’m sure.
You’re a big proponent of having LOTS of currencies. What’s the benefit of this?
Birch:If you only have one currency, and something goes wrong with it — like inflation — then you’re stuck, right? But if there’s lots of currencies and those currencies are constantly competing to deliver what society wants, if one of them goes away, it doesn’t really matter.
It’s the old argument that goes back to the idea of the IBM dollar. If I want to send you IBM stock, it has to go through all sorts of intermediaries, clearings, settlements, T+3 [trade date plus three days] and everything else, right? But if I send you IBM money, the money goes from me to you, end of story. So it makes for a much cheaper infrastructure.
So instead of having one kind of money and using it to buy different kinds of securities, you’d have lots of different kinds of money. And people say, “Well, that would be really complicated to manage,” but that’s because they’re thinking of doing it themselves. In reality, you wouldn’t be doing it yourself because it’s very smart money. The AI in your phone will take care of it for you. Money that’s designed for devices can be much smarter than money designed for people.
What do you want people to take away from the book? What’s the core idea?
Birch:Three things, really. First of all, to stop thinking about digital currency as some kind of nerd cryptographer/bitcoin nutter thing. It’s a real thing and it needs to be taken seriously.
Two, to develop a strategy for digital currency. Obviously, my strategy would be for the Bank of England to create a fantastic digital currency. I’m sure Michael [Casey] and other people’s strategies might be for some private companies to create a fantastic digital currency. For other people, it might be for the U.S. to create a fantastic digital currency. I’m not smart enough to know which should be the best strategy, but I’m smart enough to know there should be a strategy.
And the third thing?
That they should pay me enormous sums of money to come and talk about it in conferences, should there ever be conferences again in the rest of my lifetime.
David Birch will be appearing at virtualConsensus DistributedMay 11 at 9 a.m. ET.
• Bitcoin in Emerging Markets: The Middle East
• Why the Dollar Has Never Been Stronger or More Set Up to Fail || Bitcoin Miners Usually Create 6 Blocks per Hour. They Just Banged Out 16: In an unusual deviation from the norm, bitcoin miners just produced 16 blocks in 63 minutes, according to theBlockstream bitcoin block explorer. Four of the new blocks were reported within 46 seconds at 19:02 UTC on Friday.
Each newbitcoinblock is produced every 10 minutes, on average. The exact time required to produce a new block can vary significantly and depends in part on the current mining difficulty level, which adjusts every 2,016 blocks, or approximately once every two weeks.
Bitcoin’s anomalous spree of new blocks was firstnoticedby Étienne Larrivée, bitcoin developer at Satoshi Portal, a Canadian bitcoin financial services company. “Four blocks in less than a minute doesn’t feel natural, but it’s most likely only variance,” Larrivée told CoinDesk.
Related:First Mover: Capitalism’s Biggest Crisis Isn’t Driving People to Bitcoin – It’s the Volatility
Such rapid block production could signal bitcoin’s current difficulty level is too low, meaning mining new blocks is too easy. Or it could be a simple coincidence, the product of block time variability.
Read more:Bitcoin Halving, Explained
The event coincides with a six-month high in the aggregate size of unconfirmed transactions in bitcoin’s mempool. Bitcoin transactions are sent to the mempool, which serves as a sort of holding depot, after they have been verified by other non-mining nodes in the network. Miners then take transactions from the mempool and insert them into new blocks, which are then added to the Bitcoin blockchain.
Bitcoin’s mempool soared to 77.58 million bytes worth of unconfirmed transactions on Thursday, according toBlockchain.com.
Related:Bitcoin in Emerging Markets: The Middle East
The high number of unconfirmed transactions coinciding with such rapid block production is curious given that the job of bitcoin miners is to insert unconfirmed transactions in new blocks.
With bitcoin’s third halving less than two weeks away, Friday’s spree of new blocks could signal a significant upcoming mining difficult adjustment amidst asurge in mining power.
UPDATE (May 2, 2020 2:45 UTC):This article has been updated to note that four blocks were reported within 46 seconds instead of arriving within 46 seconds.
• Bitcoin Price May Drop After Halving, Historical Data Shows
• US Court Dismisses Lawsuit Over Riot Blockchain’s Crypto Pivot || Blockchain Bites: What the Bitcoin Halving Means for Miners and Prices: Predictions and price models proliferate ahead ofBitcoin’s programmatic halving, expected in less than two weeks.
While some are turning to esoteric economic models to make the claim that the occasion will be bullish for thelargest cryptocurrency by market cap, others believe it’ll be a non-event. Still, the halving is already showing real-world effects, with major mining manufacturers slashing prices and small-time investors… investing. (To be fair, these trends could also be attributed to COVID-19-led market distortions.) 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.
Related:First Mover: Bitcoin Now Crushing Gold After Biggest Price Jump in Six Weeks
Halving Predictions: Mining & Price
• Hut 8, one of the largestpublicly listed mining companies,is likely to be affected by the incomingbitcoinhalving event. The firm’s profitability has declined over several quarters, its mining rigs are struggling to compete and it carries a heavy load of fixed interest debt. CoinDesk Research takes an in-depth look into Hut 8’s financials and risks in a free report, available fordownload here.
• Meanwhile, mining manufacturer Bitmain is said to have booked over $300 million in revenue for the year to date. (The Block) Still, the firm has already begunmarking down the pricesof its machines ahead of the halving event.
• Bitcoin’s third halving, less than two weeks away, is often touted as a catalyst for a price surge. It’s certainly led to asurge in interestand speculation around the cryptocurrency. Yet, some traders thinkthe halving will be negligible compared with other macro-level eventslike unprecedented central bank monetary policies as well as the everyday trading levels on exchanges.
• However, believers in Bitcoin’s stock-to-flow model are predicting a bullish run after the halving. This esoteric economic model tracks a commodity’s existing supply against how quickly new stock enters the market. “This hypothesis … is that scarcity, as measured by S2F, directly drives value,” PlanB reportedly said. Decrypt’s Colin Harpertakes a lookat the theory.
• Forbes also weighs in on the debate, with contributor Luke Fitzpatrick predicting “a new class of crypto millionaires may emerge.” (Forbes)
Messagin’ MnuchinIn a letter addressed to Treasury Secretary Steven Mnuchin,11 members of Congress,suggest blockchain and other distributed technologies could boost liquidity and help distribute federal stimuli during the COVID-19 crisis. “Such steps will ensure both that America retains its technological advantage and that relief is delivered quickly to the small businesses and individuals who need it most,” the letter reads.
See also:Bitcoin Halving, Explained
Silver Linings?Silvergate Bankadded 46 crypto customersin the first quarter and saw fee income and deposits increase from its existing client base. COVID-19-led market volatility is cited by the bank as cause for an increase in deposits, according to the company’s earnings report.
Related:First Mover: For Bitcoin Prices, Inflation Headlines May Matter More Than the Reality
Nasdaq Taps CordaTheNasdaq stock exchange has partnered with R3to offer a platform for digital asset marketplaces on the Corda blockchain. As of today, capital markets participants can use Corda to support the issuance, trading, settlement and custody of digital assets.
Skew & KyteSkew, a crypto derivatives data aggregator, haslaunched a trade execution platform and raised $5 millionto help build out its new brokerage services. Partnering with UK-based Kyte Broking, skewTrading is focused on attracting institutional investors.
Stop, Stop. Stuttgart To Be Kidding MeThe bitcoin exchange arm of Boerse Stuttgart has added a“stop order” trading functionto help customers deal with volatile market conditions. Stop orders help people automate aspects of their trading strategy and, rather than having to watch the market 24/7, let them establish points at which they want to buy or sell.
Lnurl Something New EverydayA new standard known asLnurlis attempting to improve the user experience of Lightning, Bitcoin’s scaling layer. Lnurl aims to simplify Lightning transactions to just a click or a QR scan. Zap, Phoenix, Breez, Blue Wallet and Wallet of Satoshi, as well as dozens of other apps, have quietly integrated the standard.
Surveilling DronesThe U.S. Department of Transportation has issued a report advocating for blockchain totrack the use of commercial drones.The distributed technology can be “used by stakeholders in the commercial drone industry, as it can ensure security and provide for identity management as well as providing a supporting role in aircraft traffic management, [drones] conflict management and flight authorization,” according to the report.
Regulatory Shifts
• The New York Department of Financial Services hasappointed Richard Weber,former chief of the Criminal Investigation Division of the Internal Revenue Service, as its new general counsel. Weber led the IRS division during the agency’s investigation into the Silk Road darkweb marketplace.
• Brian Quintenz, commissioner of the Commodity Futures Trading Commission, willnot seek renominationand plans to stay on until his successor is appointed, following a five-year term. A long-time crypto advocate, Quintenz is noted for sponsoring the Technology Advisory Committee (TAC) and advocating for self regulation in the crypto industry.
Taking FlightAlexander Pack, managing partner of Dragonfly Capital Partners, hasstepped downfrom the crypto investment firm, citing “a difference in vision on the direction of the firm.” Dragonfly launched in 2018 with $100 million under management and the mission to bridge investments between the U.S. and Asia.
Riding on BisonDecentralized finance protocolKeep Network has tapped Bison Trails,a Libra Association member, to provide non-custodial staking services for tBTC, an ERC-20 representation of bitcoin deposits. “Infrastructure is important because if your node is being asked to sign a message or it’s holding onto BTC as one of the shards, you ideally don’t ever want to be offline,” Bison Trails protocol specialist Viktor Bunin told CoinDesk in an interview.
Staking AheadThere are now at least61,980 addresseswith a balance in Kyber Network Crystal, an Ethereum token that fuels operations on the currency’s native exchange. This all-time-high comes ahead of a planned upgrade that would allow token holders to earn staking income on the decentralized Kyber Network.
Series ATaurus Group secured over€10 million in a Series Afunding round led by Arab Bank. The firm now looks to expand its digital asset business and open offices in London, Paris and Frankfurt.
Ripple Exec DeplatformedYouTube has suspended Ripple CTO David Schwartz’s channel.This follows quickly on Ripple’s lawsuit, which claims the streaming giant failed to redress XRP scams and Ripple impersonators in videos. “Weirdly, YouTube just decided to suspend my channel (SJoelKatz) for impersonation. I wonder who they think I was impersonating,” Schwartz tweeted.
Little Guys Go BigThe number of networkaddresses holding at least 0.1 BTC(~$770) has continued to hit all-time highs, climbing to 3,010,784 on Monday, according to data from Glassnode. Beginning in February, exchanges have seen an increase in small purchases of bitcoin.
Coinbase of DAOsTheOpenLaw LAO,or “Limited Liability Autonomous Organization,” opened Tuesday for investors looking to compliantly earn returns on the next wave of Ethereum-based projects. Initially capped at 100 accredited investors, the LAO will pursue venture capital deals via a smart contract that automatically pays out returns. If Coinbase legitimized the model first put forth by Mt. Gox, Wright said, the LAO could do the same for DAOs, said OpenLaw CEO Aaron Wright.
Crunchbase for CryptoEverest, an Ethereum-based social registry for tracking crypto projects, launched yesterday with an index of 100 decentralized projects. The service is predicted to become a “crypto Crunchbase,” according to Coinfund founder Jake Brukhman. (Decrypt)
CoinDesk Live: Lockdown Editioncontinues its popular twice-weekly virtual chats with Consensus speakers via Zoom and Twitter, giving you a preview of what’s to come atConsensus: Distributed, our first fully virtual – and fully free – big-tent conference May 11-15.
Register to join our fifth sessionThursday, April 30, with speakerHudson Jameson from the Ethereum Foundationto discuss private transactions, client improvements and dealing with FUD, hosted by Consensus organizer Nolan Bauerle. Zoom participants can ask questions directly to our guests.
Bitcoin’s price jumped above $8,100 on Wednesday,making an April gain for the fifth consecutive year all but certain,predicts CoinDesk’s Omkar Godbole. The cryptocurrency is now up 26% on a month-to-date basis. “While a price pullback in the next 24 hours cannot be ruled out, a drop all the way back to levels under $6,428 looks unlikely, as technical studies are biased bullish and the speculative buzz surrounding the upcoming mining reward halving is likely to limit any losses,” he said.
Cambridge SurveyCoinDesk is working with theCambridge Centre for Alternative Finance (CCAF), an independent academic research institute at the University of Cambridge, on its 3rd Global Crypto Asset Benchmarking Study. To gather up-to-date information, the CCAF invites crypto companies to participate by completing one of the following surveysby May 1:
• As an actor in thecrypto asset mining industry
• As acrypto asset service providerworking in payments, exchange or custody
The resulting report will help us all get a better idea of where growth is happening, what it looks like, what barriers are in the way and what the short-term outlook holds. If you have any questions or feedback, you can contact the CCAF directly ata.blandin@jbs.cam.ac.uk.
Geopolitical CrisisBlockchain consultantMaya Zehavi joins The Breakdownto discuss how the COVID-19 health crisis is also a geopolitical event. On the docket is a review of how contact tracing apps are a battleground for mass surveillance, the mechanics of government intervention and the rise of localism.
• Blockchain Bites: WEF, IBM and a Chinese City Show Support for Blockchain
• Blockchain Bites: Capital-Constraining Compliance and Tether’s ‘Interoperability Bridge’ || Manufacturers Mark Down Bitcoin Miners as Price Drop, Halving Change Calculus: Bitcoin mining machines are on sale. Last month’s crash in cryptocurrency prices has prompted manufacturers to sell inventories at a discount, in some cases as steep as 20 percent, over the past few weeks. Both the newest models and slightly older machines have been marked down. Complicating the matter is the imminent bitcoin (BTC) halving in May that will reduce the network’s mining reward by half, causing most miners to be less profitable if bitcoin’s price doesn’t increase significantly by then. Related: Binance Crypto Exchange Is Launching Its First Bitcoin Mining Pool See also: Bitcoin Halving, Explained For instance, DJ Miner, an overseas distributor for Shenzhen, China-based MicroBT, was advertising about $2,500 per unit of the manufacturer’s flagship WhatsMiner M30S early last month. After bitcoin’s March 12 crash – the worst sell-off in seven years – the price is now cut by 20 percent to $2,000 per unit. The WhatsMiner M20S, a less advanced but popular model that boosted MicroBT’s market share against major rival Bitmain in 2019, is also seeing a 20 percent price cut from $1,679 to now $1,340, DJ Miner’s website shows . Pangolinminers, another distributor for MicroBT shows similar pricing rollbacks on its website. Similarly, while Bitmain is advertising $1,567 for its AntMiner S17+ with a computing power of 67 terahashes per second, various resellers are posting quotes on WeChat seen by CoinDesk at around $1,300 per unit. Related: HIVE Blockchain to Double Bitcoin Mining Capacity Through $2.8M Share Deal The Beijing-based mining giant has previously announced the pricing for its latest flagship AntMiner S19 Pro at about $2,900 per unit but the shipment won’t take place until May and so far is only available for investors inside China. See also: How Bitcoin’s Price Slump Is Changing the Geography of Mining Efficient market It is important to note that most specialized bitcoin computers, known as ASICs, had already been dropping in price since the fourth quarter of last year, as the manufacturers adjusted their strategies in line with bitcoin’s price swing. Story continues These machines are priced assuming it would take the buyer on average 15 months to make back their equipment investment. Holding the payback period relatively constant, manufacturers would adjust the prices of their equipment according to bitcoin’s market price and the level of competition on the network – the two factors that determine how much revenue a miner can generate in a day. Miner pricing data compiled by research startup TokenInsight shows that, for example, the Whatsminer M20S and the AntMiner S17 Pro were priced at around $2,400 and $3,000, respectively, in mid-October 2019. The price for both had dropped to around $1,500 as of March 10. See also: A New York Power Plant Is Mining $50K Worth of Bitcoin a Day “ASIC miners have experienced a relatively large market devaluation since Q4 2019. However, the miner market has found some level of price floor during Q1 2020 despite the recent crypto market downturn,” said TokenInsight analyst Johnson Xu. “Some experienced miners are currently looking to purchase some secondhand ASICs at a significant discount … based on their carefully structured model.” Blockware Solutions, a reseller of bitcoin ASIC miners in North America that also operates mining facilities, said in a recent research report that the market crash in March, together with the coming halving, has led to a significant decrease of bitcoin’s mining computing power – which in the long run, could be an encouraging sign for the market’s efficiency. “If bitcoin remains at lower price levels for two to four months, post-halving, many miners operating at a loss will be forced to shut off,” Blockware said. “After all the miners that are operating at a loss shut off, the miners that survive experience significant margin relief. We will witness a network in short-term chaos, but difficulty adjustments will reinstate stability once the inefficient miners shut off.” See also: Binance Crypto Exchange Is Launching Its First Bitcoin Mining Pool The firm believes after the Bitcoin network experiences sustained favorable competition adjustments, the “likelihood of a bottom in bitcoin’s price is enhanced.” “This is because newly mined bitcoin is now being distributed to and accumulated by the most efficient miners with healthy balance sheets,” the firm said. “The amount of bitcoin … that the surviving miners receive are directly proportional with the amount of bitcoin that was being distributed to the miners that have shut off. These rare, lucrative opportunities allow surviving miners to accumulate copious amounts of bitcoin.” Related Stories How Bitcoin’s Price Slump Is Changing the Geography of Mining Can Bitcoin Survive the Climate Change Revolution? || Blockchain Bites: Introducing the CoinDesk 50 and a Roadmap to Consensus: Distributed: The CoinDesk 50Congratulations to the inaugural CoinDesk 50.This new list features the most important, innovative and viable projects in the crypto and blockchain industry. In just 11 years, cryptocurrency and its underlying technology has made serious in-roads, promising to reinvent how the world transacts, how the internet will function and how to more equitably distribute resources. CoinDesk has been covering this varied space for seven intense years. Today, we’re honored to present the first 10 protocols, companies and projects we believe have or will have the greatest impact, not only on the industry, but the world at large. This includes billion-dollar corporations likeBinanceand Coinbase, but also aspirational projects likeCosmos.We will be releasing the full CoinDesk 50 leading up to, and during,Consensus:Distributed,our free virtual event that starts May 11. (Seehow we made the choices.)
Your Guide to Consensus: DistributedSpeaking of Consensus,Blockchain Biteswill be your guide as the crypto industry’slargest and most ambitious conferencegoes distributed. For the five days of Consensus: Distributed, your trusted source of daily crypto updates will double its output. Beginning May 11, Blockchain Bites: Consensus Edition will hit your inbox by 7:30 a.m. ET and then reappear at 5.30 p.m. ET, providing an agenda settings schedule as well as recap of the daily happenings.
Every morning edition will feature a special guest appearance from CoinDesk journalists, who will highlight the panels they’re excited about and reflect on what they’ve learned so far. With 300 speakers, 10,000+ attendees and content streaming 24/7, there will be a lot to talk about.
Related:First Mover: Search Interest in Bitcoin’s Halving Reaches Fever Pitch as Price Hits $10K
For starters, there will be a keynote address by influential economistCarlota Perez, performances fromAkon, Haley Smalls, and Skip Marleyas well as interactive workshops where you can get your hands on some cryptocurrency. You can also take a walk through Decentraland and tune intoCoinDesk TV, a round-the-clock live programming event streaming on CoinDesk.com,YouTubeandTwitterfrom Monday, May 11, at 8:30 a.m. ET to Tuesday, May 12, at 9 a.m. ET.
We hope to see you online, happy, healthy and ready to get engaged atConsensus: Distributed.Register here.
Voting PilotDemocrats in the Ohio House of Representatives have proposed launching ablockchain voting pilot for overseas military votersregistered in the state. The bill was introduced Tuesday as part of the Democrats’ elections law overhaul. If passed, it would see military members transmit their ballots to election officials via “encrypted blockchain technology” that “protects the security and integrity of the process and protects the voter’s privacy.” The receiving board of elections would then print out that ballot “for counting purposes.”
HSBC to LibraThe Libra Association has namedHSBC Chief Legal Officer Stuart Levey as its first chief executive.Joining late this summer, Levey will oversee the association’s efforts to “combine technology innovation with a robust compliance and regulatory framework.” He has been at HSBC since 2012.
Related:The Changemaker: Glen Weyl Puts His Radical Ideas Into Action
Cash App: Revenues and ProfitsCash App saw first quarterrevenues from bitcoin of $306 million,a quarterly high for the firm, surpassing all other revenue streams. Profits on its Bitcoin business, however, are minimal at $7 million in Q1, and $8 million through the whole of 2019.
Enter New YorkEris Clearing, the clearing and settlement arm of ErisX, has been awarded aVirtual Currency Licensefrom New York’s Department of Financial Services. Colloquially known as a “BitLicense,” having received one, the company is licensed to operate in the state.
Enter EuropeTokenSoft isbringing its security token issuance platform to Europethrough a Switzerland-based counterpart, TokenSoft International AG. The regulated STO platform announced Wednesday that it struck a licensing deal with its eponymous European partner, who now has exclusive continental distribution rights for TokenSoft’s tokenization software.
Noding OffDespite recent surges in price and mining power, Bitcoin’s total node count fell below 47,000 on Monday,a three-year low,according to developer Luke Dashjr. This trend is confirmed by Bitnodes’s data, which also a spike in nodes using onion services that may make node operators more difficult to locate. Peaking at over 200,000 in January 2018, node operators validate new transactions and store copies of the network’s shared transaction history.
New MessagingThere is a new messaging standard designed to helpcryptocurrency firms comply with anti-money laundering regulationsfrom the Financial Action Task Force (FATF). The standard, called IVMS101, defines a uniform model for data that must be exchanged by virtual asset service providers alongside cryptocurrency transactions. The standard will identify the pseudonymous senders and receivers of crypto payments, with such information “traveling” with each transaction.
Polkadot Designs a Launch PlanThe Polkadot network is“very near launch,”founder Gavin Wood said. Guided by the Web3 Foundation and Parity Technologies, Polkadot, an interoperable blockchain that will allow transactions across multiple chains, will roll out through five or six phases.
Icy Goodbye?Former Bakkt CEO Kelly Loeffler reportedly received$9 million worth of stock and other awardsfrom parent company Intercontinental Exchange (ICE) when she was appointed to the U.S. Senate from Georgia.
Abra $5K-dabraThe Stellar Development Foundation ispumping $5 million into Abra,a crypto financial services app. The foundation’s largest enterprise investment yet precedes Abra’s integration with the Stellar blockchain.
Mining MapResearchers at Cambridge University’s business school have created aBitcoin Mining Maptovisualize global hashrate data by country, and more granular data for Chinese provinces.The map shows China provides 65% of Bitcoin’s total mining hashrate, while the U.S. and Russia lag behind at 7%.
Monsoon Coming?One of Asia’s largest crypto exchanges by trade volume,OSL, has teamed with enterprise startup Monsoon Blockchain.The partnership may allow for an eventual US expansion.
Private CosmosThe nonprofit Zcash Foundation is building a way to bring the privacy coin Zcash onto the interoperable Cosmos ecosystem. (Decrypt)
Zcash ReportZooko Wilcox hired the Rand Corporation to suss out whether the privacy crypto zcash he shepherds is really the darkweb’s go-to currency. The report says it isn’t, bitcoin is. But there is room for skepticism. Europol and Chainalysis have previously released reports showing Zcash gaining in popularity among criminal elements. You can read the reporthere, and about the debatehere.
Ethereal Goes VirtualThe Ethereal Summit, a free virtual conference, has kicked off today. One hundred speakers will stream over the course of two days.Watch here.
CoinDesk Live: Lockdown Editioncontinues its popular twice-weekly virtual chats via Zoom and Twitter, giving you a preview of what’s to come atConsensus: Distributed,our first fully virtual – and fully free – big-tent conference May 11-15.
Register to join our seventh and final sessionThursday, May 7, with speakerFelipe Duarte from DAOCanvasto show you how to roll your own DAO, hosted by Consensus organizer Bailey Reutzel. Zoom participants can ask questions directly to our guests.
It’s Bitcoin, Not YouBitcoinlooks to have decoupled from traditional marketsas investors refocus on the network’s imminent mining reward halving. Bitcoin gained nearly 5.9% so far this month, while gold has declined by 1% and the S&P 500 is down 2.2%, on a month-to-date basis, as of Wednesday.
Halving SoonBitcoin’s halving is now predicted to come hours sooner. The cryptocurrency’s price rally above $9,000 has caused some miners to switch to more efficient mining machines, thereby accelerating the speed at which new blocks of data are confirmed and pushing up the time of the anticipated halving event. Read the fullFirst Mover newsletterhere.
Volatile EstimatesBitcoin’s options market may be underpricing cryptocurrency’s future volatility.Analysts say the data is being distorted by “Black Thursday’s” 40% drop. The spread between bitcoin’s three-month implied volatility (IV), the market’s expectation of how risky or volatile an asset will be in the future, and historical or realized volatility (RV) fell to -47% on Wednesday.
CoinDesk Monthly Review: April 2020
CoinDesk Research’s monthly review of crypto markets overviews returns, volatility and correlations of bitcoin, ether and other crypto assets – all in a macro context. Plus, we track growth in stablecoins and look at what past halvings can tell us about the upcoming one. The report isfree to download.
Surveying the CarnageNLW examines howreal estate, travel and music are faring during the COVID-19 crisison the latest episode of The Breakdown.
• How We’re Raising the Virtual Bar at Consensus: Distributed
• The CoinDesk 50: Binance Eyes the Whole Pie || The Stablecoin Surge Is Built on Smoke and Mirrors: 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. There’s a desperate shortage of dollars. Despite the Federal Reserve creating new money at an unprecedented rate, the U.S. dollar exchange rate is rising . The U.S. government is pouring trillions of dollars into the economy to support failing businesses and people losing their jobs. When governments and central banks put new money into the economy, consumer prices usually rise. But in March, against what you would expect, consumer prices fell by 0.4% . As dollars are apparently being swallowed up by the black hole created by the coronavirus, issuance of dollar-backed stablecoins is soaring as more and more people invest in them. Especially popular are stablecoins such as USDT, USDC, BUSD and Pax, which are backed one-for-one with dollar reserves. Related: Stablecoins Push Ethereum’s Transaction Count to Highest Since July 2019 See also: Money Reimagined: Demand for USD Stablecoins Foreshadows Financial Disruption What’s driving this growing interest in stablecoins? One explanation might be investors reaching for yield. As global interest rates fall, returns on conventional assets become increasingly disappointing. Stablecoins themselves don’t deliver dollar returns – indeed they are designed not to – but they do give easy access to the crypto world for investors looking for better returns. This is a persuasive argument. Right now, the outlook is bullish for crypto. Partly, this is because of bitcoin’s forthcoming halving: after previous halvings the price has always risen sharply, so there could be a potential profit opportunity from getting in now. But it’s also because of a growing belief among investors that the Fed’s extraordinary rate of money creation could result in runaway inflation. A century ago, central bank money printing in Germany’s Weimar Republic caused prices to rise so much that people paid for loaves of bread with wheelbarrows full of banknotes. Get your wheelbarrows out, dollar slaves! Story continues Runaway inflation in fiat currencies would be good for Bitcoin, and indeed for any scarce asset. After all, who is going to want to keep their savings in the form of dollars if the dollars are going to be inflated away any time now? So wise investors might exchange their dollars for crypto, thus benefiting from what could be a considerable bull run as fiat currencies burn. Though the Fed’s preferred measure of inflation expectations, the five-year, five-year forward spread , is not predicting runaway inflation. If anything, it is deflation, not inflation, that most investors foresee. Related: Bitcoin in Emerging Markets: The Middle East CoinDesk’s Michael Casey wonders if the surge in stablecoins could be driven not by investors reaching for yield or expecting high inflation, but by businesses desperate to find a secure source of dollar liquidity at a time of crisis. Stablecoins, after all, are equivalent to dollars. And they provide access to a payments network that is global, usually efficient, and – importantly – doesn’t rely on banks. Whether stablecoin issuers can meet the FDIC’s requirements has not yet been tested. Banks depend for their survival on the solvency of their borrowers. When the economy crashes, businesses fail and people lose their jobs, banks can become very wobbly. And, since the 2008 crisis, government bailouts of banks have become anathema. These days, deposits can be “haircut” to bail out banks, as they were in Cyprus . Or banks can close their doors, and governments can stop you taking out your money via ATMs , as happened in Greece. So your deposits can shrink or you can lose access to them just when you most need money to keep your business afloat. Because of the scale of business failures and job losses at the moment, widespread loan defaults – and associated bank failures – seem highly likely. “Given the post-COVID-19 outlook for banks’ loan customers,” says Casey, “some will doubt the security of their deposits, regardless of whether they are denominated in dollars.” And he continues: What’s a business to do then? They can’t withdraw and hoard cash to protect themselves; banknotes are hardly a viable payments option in the modern world. But perhaps dollar-backed stablecoins pose an option…. Banks don’t keep enough cash reserves to ensure everyone can withdraw their money whenever they want to. But stablecoins do. So, why not put your money into fully reserved stablecoins instead of fractionally reserved banks? Your dollars would be completely safe, and you would also have the opportunity to invest in cryptocurrencies or lend out your stablecoins for a good return. As Casey puts it, “Since the token issuer commits to hold the full equivalent in reserves for all tokens issued, the fractional reserve system’s perennial question about deposit assurance ceases to be an issue.” Sadly, this is much too good to be true. The reserve backing of these stablecoins is smoke and mirrors, just like the reserve backing of banks. Indeed it relies on exactly the same confidence trick. See also: Marek Olszewski – Why This Global Crisis Is a Defining Moment for Stablecoins Reserves for the four biggest stablecoins – USDT, USDC, Pax and BUSD – are all kept in banks, mostly in deposit accounts, though some are in money market accounts backed by U.S. Treasurys. The banks have FDIC insurance, of course, but then so do ordinary bank deposit accounts. If businesses’ own FDIC-insured bank deposit accounts aren’t safe, then neither are the FDIC-insured deposit accounts that hold stablecoin reserves. What’s more, FDIC insurance is limited . The standard limit is $250,000 per customer, depository institution, and ownership category. So, a business with several accounts in one bank whose balances together add up to $300,000 is only covered by insurance for the first $250,000. But if the business has accounts at two different banks with less than $250,000 in each bank, then they are fully insured. For the four stablecoins I looked at, the quantity of pooled reserves in the deposit accounts appears to exceed FDIC insurance limits. Indeed in the case of Paxos, which manages the reserves of not only its own stablecoin Pax , but also Binance’s BUSD, the auditor’s report specifically says that the amounts in the deposit accounts exceed FDIC limits. So although the reserves exist, they are not fully insured. If the banks in which they are held fail, stablecoin reserves in excess of FDIC limits could be seized to bail out the banks. The reserve status of stablecoins may be a confidence trick, but the investment opportunity is real. Some stablecoin issuers claim that stablecoin “deposits” (the dollars you pay when you buy stablecoins) qualify for FDIC pass-through insurance . The argument is that the dollars are held in custody in common accounts on your behalf. But FDIC pass-through insurance comes with significant restrictions: for example, people’s individual deposits within the common funds must be clearly identifiable and regularly reported. It also excludes investments such as mutual funds and securities. Whether stablecoin issuers can meet the FDIC’s requirements has not yet been tested. And nor has the legal status of stablecoins that are issued by, and actively traded on, crypto exchanges solely for the purpose of speculation in cryptocurrencies. Speculative assets aren’t covered by FDIC insurance. So, stablecoin reserves may not be fully protected by FDIC insurance. And if they aren’t, then stablecoins may actually be less secure than ordinary bank deposit accounts. If people really are investing in stablecoins because they think they are safer than bank deposit accounts, I’m afraid they have allowed the smoke to get in their eyes and the mirrors to blind them. That doesn’t mean that investing in stablecoins is a bad idea. After all, there is that halving coming up, and there is the possibility of inflation. And returns on crypto assets can be really good. The reserve status of stablecoins may be a confidence trick, but the investment opportunity is real. Just remember that nothing is ever completely safe, and there is no such thing as a free lunch. Related Stories Digital Dollars Give the State Too Much Control Over Money What We Can Learn From Telegram’s Token Troubles || RPT-COLUMN-Pandemic shock may hasten central bank digital cash: Mike Dolan: (Repeats column originally published April 9 with no change to content. The opinions expressed here are those of the author, a columnist for Reuters.) By Mike Dolan LONDON, April 9 (Reuters) - This coronavirus crisis may have come too soon for central banks now mulling digital currency as legal tender but the financial problems the health scare presents could hasten their arrival. Getting government and central bank cash instantly, fairly and securely to where it's needed most in an emergency has been one of the biggest challenges presented by this pandemic and the deep recession it's causing. And central bank digital currency, or CBDCs, could help solve some of those problems. Electronic money is how many people already operate via their bank accounts. Legal tender digital cash is different in that it operates just like traditional notes and coins but would be in a digital format akin to cryptocurrencies, such as Bitcoin, and used for payment or passed between individuals via blockchain-style digital wallets. Unlike a cryptocurrency, it's created and guaranteed by the central bank. As well as avoiding health risks posed by physically passing around money in a pandemic, the advantages of moving to CBDCs include the ability of central banks to inject cash to households and firms at speed, allowing tracking and withdrawal of the funds eventually and even taxation if necessary to prevent cash hoarders avoiding negative interest rates at banks. On the other hand, central banks have hesitated so far due to technology, security and privacy questions and also concerns about the stability of the standing banking and payments system from any sudden rush to CBDCs. Yet even before the virus hit, central banks of Britain, the euro zone, Japan, Canada, Sweden and Switzerland and the Bank for International Settlements were already due to meet this month to pool findings on plans for digital cash. According to Deutsche Bank analyst Marion Laboure, this group of central banks - representing about a fifth of the worlds population - are likely to issue a general purpose digital currency within three years. Story continues The status of that April meeting is unclear. But it comes as central banks and governments come under pressure to deliver cash to households and businesses during an economic shock that will see major western economies shrink at rates not seen for a century. Standing methods of pumping money through the banking system via so-called "quantitative easing", where central banks flood commercial banks with cash by buying bonds, are already in full swing to the tune of trillions of dollars. Additional trillions of government fiscal spending has ratcheted up in tandem, supporting healthcare, paying salaries and even posting checks. The bill is gigantic, but the cost of that debt is held down by central banks buying government bonds. So far, so good. That's stabilised credit markets to some degree but what about the public at large and wider economy? PEOPLE'S DIGITAL QE? The halt of much economic activity to stop the spread of the coronavirus means governments and central banks will struggle to get money directly to both businesses starved of cashflow and workers who are furloughed or laid off. A well-aired criticism of QE since the last crash 12 years ago was that much of the money got bunged up in the banks as low demand for loans prevented it getting to the households and firms that needed it most and it merely ended up inflating asset prices held by the wealthiest - culminating in slow growth, rising inequality and a wave of political frustration. Many experts feel central bank digital currencies could go some way to addressing these problems. The "whatever it takes" mantra from most policymakers mean policies previously considered taboo are suddenly in the mix or are being openly debated and discussed. On Thursday alone, the Bank of England agreed to lend the UK government money directly if needed for its COVID-19 spending plans if debt markets proved too cumbersome. Shortly after, the Fed announced another massive $2.3 trillion programme, this time for small and mid-sized firms via banks, lending directly to local governments and even providing for corporations with poor credit ratings. Some proposals for CBDCs have emerged that potentially blend all approaches germane to this shock and the policy conundrums it throws up. In a paper for Washington's Petersen Institute published last week, economists Julia Coronado and Simon Potter advocated a system of digital payment providers that allowed the Fed to directly pay households to stabilize income in a downturn when interest rates were already zero. They argue that this Fed-backed digital currency could both augment automatic fiscal stabilizers and "harness the power of helicopter money or quantitative easing." The gist of the proposal involves what they dub 'recession insurance bonds' zero-coupon bonds authorized by Congress amounting to a share of GDP sufficient to support demand in a severe recession. Treasury would credit households' digital accounts with these bonds and the Fed would purchase them from households in a downturn after its policy rate hits zero. (by Mike Dolan, Twitter: @reutersMikeD) || The Crypto Daily – Movers and Shakers -16/05/20: Bitcoin slid by 4.90% on Friday. Reversing a 5.14% rally from Thursday, Bitcoin ended the day at $9,311.2. A mixed start to the day saw Bitcoin slide from an intraday high $9,848.9 to an early morning low $9,260.0. Bitcoin fell through the first major support level at $9,391.9 before recovering to $9,800 levels. The recovery was brief, however. Through the 2 nd half of the day, Bitcoin slid to a late intraday low $9,130.2. Bitcoin fell back through the first major support level to wrap up the day in the deep red. The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000. For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend. The Rest of the Pack Across the rest of the majors, it was a bearish day on Friday. Binance Coin (-4.33%), Bitcoin Cash SV (-4.39%), Ethereum (-4.28%) and Monero’s XMR (-4.15%) led the way down. Bitcoin Cash ABC (-2.91%), Litecoin (-2.98%), Ripple’s XRP (-3.13%), Stellar’s Lumen (-3.00%), Tezos (-2.51%), and Tron’s TRX (-3.39%) weren’t far behind. Cardano’s ADA and EOS saw more modest losses of 1.49% and 1.73% respectively. Through the current week, the crypto total market cap rose from a Monday low $229.41bn to a Thursday high $265.28bn. At the time of writing, the total market cap stood at $256.87bn. Bitcoin’s dominance visited sub-67% levels before recovering. At the time of writing, Bitcoin’s dominance stood at 67.2%. 24-hour trading volumes rose to an early Monday high $206.86bn before easing back to sub-$140bn levels. Interest picked up on mid-week, however, with volumes revisiting $190bn levels. At the time of writing, 24-hr volumes stood at $148.96bn. This Morning At the time of writing, Bitcoin was up by 0.56% to $9,363.6. A mixed start to the day saw Bitcoin fall to an early morning low $9,222.0 before striking a high $9,417.0. Story continues Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a bullish start to the day for the majors. Bitcoin Cash ABC and Monero’s XRM led the way with gains of 1.35% and 1.31% respectively. For the Bitcoin Day Ahead Bitcoin would need to move through to $9,430 levels to bring the first major resistance level at $9,730.0 into play. Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $9,417.0. Barring an extended crypto rebound, the first major resistance level and Friday’s high $9,848.9 would likely limit any upside. In the event of rebound, the 62% FIB of $10,034 could come into play before any pullback. Failure to break back through to $9,430 levels could see Bitcoin hit reverse. A fall back through the morning low $9,222.0 would bring the first major support level at $9,011.3 into play. Barring a crypto sell-off, however, Bitcoin should steer clear of the second major support level at $8,711.4. This article was originally posted on FX Empire More From FXEMPIRE: Silver Weekly Price Forecast – Silver Markets Explode to The Upside Natural Gas Price Forecast – Natural Gas Gives Up Early Gains European Equities: A Week in Review – 16/05/20 EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 16/05/20 Crude Oil Weekly Price Forecast – Crude Oil Markets Make Strong Statement Gold Price Prediction – Prices Break Out on Soft Retail Sales
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 9461.06, 10167.27, 9529.80, 9656.72, 9800.64, 9665.53, 9653.68, 9758.85, 9771.49, 9795.70
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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 2020-03-02]
BTC Price: 8869.67, BTC RSI: 41.88
Gold Price: 1592.30, Gold RSI: 50.21
Oil Price: 46.75, Oil RSI: 32.91
[Random Sample of News (last 60 days)]
Ricky Cucalon, A Civil Engineer from California Introduces the ATM Movement to Help Millennials With Digital Marketing: An aspiring entrepreneur and social media influencer from San Francisco, with an inspiring life story 'from washing cars in the streets to a millionaire in less time than it takes to receive a bachelor's degree', has created an initiative called the ATM Movement, to help people with digital marketing using their smartphones. SAN FRANCISCO, CA / ACCESSWIRE / February 24, 2020 / Experts tend to suggest that the most successful people are those who have businesses based on their own interests. Most entrepreneurs find that fulfillment is at its peak when one has their own business which aligns with their own values and interests. Ricardo Cucalon, better known as Ricky Cucalon, has one of the largest Bitcoin wallets in Latin-america. Being an influencer on social platforms, he has Created a revolutionary initiative called the ATM Movement, with the goal to assist people, primarily from Latin-america to pursue their entrepreneurial journey using technology. "Being someone who's originally from Peru, I know the struggle one has to go through to make ends meet and the lack of resources we are provided with. I wanted everyone to have an opportunity to succeed in life. So I created the 'ATM Movement' with the intention to help start people make a livelihood putting their smartphones to work. We live in a time where we can not only use these devices to share photos with friends but also generate an income with a device we walk around with in our pocket. I started feeling the true freedom when I became able to do what I want, wherever, whenever, and however I want. I want to pass that on to others" explains Ricky. To avoid the many risks and heavy outlays of being one's own boss, many people are now turning to digital marketing as the way to become an entrepreneur. Starting a business using modern technologies, mostly involves investment in time and can be done in as little as an hour a day. Comparing this to a traditional business is a no brainer. Most traditional businesses force you to invest at least 100K and spend 80+ hours a week to generate income, with the technology we have today primarily all we need is our smartphones and a will to succeed. Ricky wants to provide them with an opportunity to use their mobile devices to get started. "I was fortunate to have met Sylvester Stallone and I asked him what would be the biggest advice he would give the young rockys. He explained that his world was much different than the one we are living in currently. Ours has become more competitive now and we need to go out there with a winning mindset ready to get hit, and it's okay if you fall, but it's important to continue to get up". Ricky recalls his meeting with Rocky himself. Ricky was an early adopter of blockchain technology and invested in it 2016, selling his Honda Accord to buy 18 bitcoins at $800. He started his own business in May 2018 after bitcoin went to its peak, with a vision of helping people to generate a livelihood using their smartphone. By adopting an approach of working smart instead of working hard, his business expanded very quickly all over Latin America, Hong Kong, Europe and in the US. More details about Ricky Cucalon can be found on his YouTube channel ATM Movement and on his Instagram @ricky_cucalon . Media Contact Information: Story continues Name: Ricky Cucalon Company: ATM Movement Email: info@atmmovement.com Website: https://atmmovement.com SOURCE: Ricky Cucalon View source version on accesswire.com: https://www.accesswire.com/577592/Ricky-Cucalon-A-Civil-Engineer-from-California-Introduces-the-ATM-Movement-to-Help-Millennials-With-Digital-Marketing || Notes From the WEF: Oil-Producing Nations Want Dollar Alternatives, Just Not Bitcoin: DAVOS, Switzerland – Most Middle Eastern elites at the World Economic Forum are highly skeptical of bitcoin, but there are whispers about its potential for cross-border settlements in the energy sector.
According to Egyptian businessman M. Shafik Gabr, chairman of the ARTOC Group for Investment & Development, some Middle Eastern nations are already exploring the possibility of settling oil contracts in bitcoin. But he declined to specify which, and most of the leaders gathered in Davos for the annual conference that wrapped up Friday are adamant they see bitcoin’s post-sovereign nature as anathema.
Fellow Egyptian investor Ahmed Heikal, CEO of Qalaa Holdings, said he’s not bullish on bitcoin because it “doesn’t have the legal framework” for such wholesale deals. If nations or energy enterprises are to use bitcoin, he argued, it won’t be for at least another decade.
Related:Crypto News Roundup and Interviews for Jan. 24, 2020
Delegates from Oman to the United Arab Emirates and Saudi Arabia all expressed similarly dismissive views about bitcoin as an asset, often referring to it as a gambling conduit. But when asked if it could still be used to settle oil contracts – especially considering the United States’ aggressiveeconomic pressureon energy exporters Iran and Iraq – one Omani politician, who did not want to be identified, teased, “It depends on who’s asking.”
U.S. sanctions are top-of-mind across the region, as when President Donald Trump urged Europe not to trade with “unfriendly” energy suppliers. Iraqi President Barham Salih pushed back with a speech on Wednesday that asserted it was Iraq’s sovereign right to have relations with neighbors on its own terms.
Saudi Arabian businessman Hamza Alkholi, CEO of Al-Kholi Group, dismissed the idea that bitcoin-denominated oil contracts could ever be more than an outlier.
“We’ve been trying for 30 years,” he said, referencing efforts to move beyond the U.S. dollar by settling oil contracts in euros. “Until bitcoin is regulated like the stock market, I don’t see that happening.”
Related:Notes From the WEF: Cash Is Dead, Long Live Digital Cash
Crescent Enterprises CEO Badr Jafar, who is heavily invested in the oil and gas industry, agreed there’s no urgency among most players in his industry to move away from the dollar. Leaders and businessmen still don’t “trust” cryptocurrency, Jafar said, and he expects central banks would push back if bitcoin gained more significant usage.
However, if oil contracts were to be settled in currencies beyond the dollar, Jafar said that might be driven by political factors related to Russia and China.
And soon there will be a digital currency issuer eager to help dollar-weary energy suppliers find alternative settlement systems. Equally concerned about “trust,” China is hyper-focused on both compliance and global market opportunities.
Chinese businesspeople see Eurasian crypto ventures as a stepping stone toward addressing more complex commodities markets.
China Blockchain Delegation Chairman Danny Deng said China’s blockchain-based currency, which he expects the People’s Bank of China (PBoC) to launch on a limited scale in 2020, could offer a backbone for energy markets.
“Bitcoin has a larger and larger ecosystem, but it still can’t afford the trading volume of such a commodity,” Deng said. “The traders of oil and gas are using leverage. That leverage must be backed by financial systems. Regions, like Iran … may use bitcoin or other payment systems. But other countries that don’t have this problem may play an important role in national [cryptocurrency] settlements.”
From his perspective, fiat currency has become too political, rather than a strictly commercial tool. One of China’s most revered bitcoiners,Wang Wei,a leader of nearly a dozen associations from the Shanghai Stock Exchange Corporate Governance Advisory Committee to the China Mergers and Acquisitions Association, said bitcoin lost its chance to be the dominant currency for settlements and will instead primarily be a store of value.
Several Chinese businessmen who work with the government and PBoC agreed the bank could offer an alternative to dollar settlement systems by 2021. For example, Zhang Shousong, secretary general of the China Blockchain Application Center, said by the next Davos conference PBoC’s digital currency will be operational “not only in China, but all over the globe.”
Given the tenor of public officials’ statements, Deng said cryptocurrency rails are “on a fast track.” Shousong added it’s “not like Libra, it’s certainly going to launch,” referring to the Facebook-initiated global currency project whose debut remains uncertain.
In the meantime, Wei has taken Chinese-speaking Kazakhstani entrepreneur Tilektes Adambekov under his wing and helped the latter establish the licensed EBX crypto exchange inKazakhstan, the world’s 10th-largest oil exporter. Adambekov joined the Chinese delegation for lunch in Davos to discuss the future of global markets over foie gras and fig chutney in a mountaintop restaurant with a panoramic view. Adambekov quoted Mao Zedong in a thank you speech to the delegation, which prompted resounding applause.
From the delegation’s perspective, Adambekov is a perfect fit for China’s aspirations. He spent eight years working in China before returning home to focus on serving Russian-speaking crypto markets across borders. Plus, Kazakhstan has an open regulatory framework and is strategically situated along the path of China’s “Belt and Road” initiative. Adambekov said his exchange aims to support tokenized oil and gas options, settled in national cryptocurrencies yet offering bitcoin liquidity.
From China to Oman, all businesspeople and diplomats agreed the dollar will remain king in commodities markets for the near future. But alternative options may already be on the horizon.
When asked if such options could usurp the greenback by 2025, Matthew Blake, the World Economic Forum’s monetary systems lead, said the dollar’s role is so pronounced that “to displace it in a meaningful way would take longer than four years.”
Bitcoin may, or may not, participate in that shift.
“Bitcoin has demonstrated some of the qualities that a distributed currency can possess,” Blake said. “It’s also had challenges too. The role of a currency is to have a store-of-value with an inherent level of stability. There needs to be liquidity. In the case of bitcoin, it hasn’t had those qualities thus far.”
• Continued Losses See Bitcoin Erase 40% of Recent Price Rally
• Ripple’s Brad Garlinghouse Hints Firm May Seek IPO Within 12 Months || Bitcoin’s Privacy and Scaling Tech Upgrade ‘Taproot’ Just Took a Big Step Forward: A privacy and scalability upgrade that could turn out to be one ofbitcoin‘s largest to date has passed a couple of milestones that were little noticed outside technical circles.
On Tuesday, Pieter Wuille, a Bitcoin Core contributor and the brains behind the update known as Taproot,submitteda work-in-progress code change to GitHub in what’s known as a “pull request,” showing the code is ready for more developer eyes.
“Merging this is obviously conditional on getting community support for the proposal. It’s opened here to demonstrate the code changes that it would imply,” he wrote.
Related:Continued Losses See Bitcoin Erase 40% of Recent Price Rally
Submitting a pull request to the code for Bitcoin Core (the reference implementation, or standard version of bitcoin software from which others are derived) does not mean the change is official. But it’s a key step. While many in the bitcoin community are excited about the upgrade, the process of turning the idea into code has been mostly happening behind-the-scenes. Wuille’s “pull request” pushes it into the spotlight, signifying the code is closer to ready.
Though Wuille submitted the pull request just a couple of days ago, several bitcoin developers, including John Newberry, Ben Woosley and Adam Ficsor, have already left review comments, in another sign of how highly anticipated the change is.
In another key, if more symbolic milestone, the three Bitcoin Improvement Proposals (BIP), which are like blueprints of the changes, have also been assigned numberson GitHub.
A key part of the proposal is Schnorr, a cryptographic signature scheme for proving ownership of coins. It’s better than what bitcoin has right now in that it paves the way for scalability improvements and allows developers to build new technologies on top of bitcoin.
Related:BlockFi Adjusts Interest Rates to Lure Larger Crypto Deposits
Using Schnorr, Taproot adds smart contract capabilities to bitcoin that would strengthen privacy. For example, the transactions that open and close payment channels on thelightning network, allowing speedier transfers of small amounts, would not look much different from normal transactions (at least, up to a point). So it would be harder for blockchain voyeurs to discern what a user is doing.
As a decentralized cryptocurrency, bitcoin doesn’t have a single leader who can push through changes. As such, a major change like this (called a “soft fork” in bitcoin) can only get absorbed if just about everyone agrees with it.
If no one in the community comes up with any valid objections to Taproot (such as uncovering a security vulnerability) it could become the biggest change the digital currency has seen since 2017, when scaling upgrade SegWit was locked in after a long and often savage debate.
So far, it looks like the change has all but unanimous approval from developers. Bitcoin Core contributor Anthony Towns organized a review group where developers scrutinized the BIPs, submitting comments and suggestions. Any developer who wanted to join could.
This “army” of developers finished their review of the protocol change earlier this month. Of those, 16 submitted a “survey” at the end outlining their feedback, including whether they think the upgrade is a good idea. All 16 approved of the changes.
There’s still a lot of work to do. While many scrutinize the code looking for improvements or errors, some developers aredebatingthe best way for the decentralized, global network to adopt the change with as few bumps as possible – which SegWit’s heated debate showed is far from a given.
• Bitcoin Faces Move to $8,200 After Dropping Out of Trading Range
• Crypto Asset Firm Amun Launches Inverse Bitcoin ETP || Grayscale’s Bitcoin Trust Is Now Open to More Investors as SEC Reporting Company: Grayscale Investments’ bid to register its Bitcoin Trust as a Securities and Exchange Commission (SEC) reporting company has succeeded.
The trustbecame the first publicly traded bitcoin investment vehicleon an over-the-counter market in May 2015, and Grayscalefiled a Form 10 to the SEC in November, opening the trust up to investors currently restricted from participating in non-regulated vehicles. The Form 10 filing was automaticallydeemed effective 60 daysafter it was filed.
The trust’s shares are now registered under the Exchange Act of 1934, making the Grayscale Bitcoin Trust the first cryptocurrency investment vehicle to become a reporting company. The trust now has to publicly file its quarterly and annual reports as 10-Qs and 10-Ks with the SEC and publish updates on unscheduled material events and corporate changes.
Related:SEC: Cash-Strapped Telegram Launched 2018 Token Sale to Pay for Servers
The new status also reduces the statutory holding period for accredited investors from 12 months to six months.
• SEC Charges ICO Operator Who Used Alias After Past Conviction
• Coinbase-Led Crypto Ratings Council Plans Transparency Boost as New Members Join
• Liquid Exchange Cancels Sale of Telegram’s Gram Tokens || Bitcoin price crashes by $800 in minutes: The price of Bitcoin (BTC) has suddenly dropped by $800, falling from $10,200 to $9,400. Since the drop, the price has recovered somewhat, back up to $9,600. This has reverberated across the crypto markets. All bar one of the top ten coins by market cap are in the red, with Bitcoin Cash (BCH) down 8% and EOS down 12%. As a result, the entire crypto market capwhich was just under $300 billion earlier todayhas sunk to $280 billion. Bitcoin's market dominance has dropped too, falling to 63% of the entire crypto market. The US closes big sale of $40 million Bitcoin The crypto markets have been rallying since the start of the year, with the entire crypto market up 50%. Altcoins have been leading the way, making gains against Bitcoin . In particular, proof-of-stake coins have been performing well . The price of Bitcoin managed to break through the $10,000 mark several times during this rally but fell back through each time. However, the price still remains in an upwards channel, so the rally is not yet overfor now. || Finnish Authorities Have $15M in Seized Bitcoin but Don’t Want to Sell It: Finland’s customs agency has been struggling with what to do with a horde ofbitcoin(BTC) it fears could end up back in the hands of criminals if sold off.
Finnish Customs, known locally as Tulli, has been trying to offload a total of 1,666 bitcoin for several years, even drawing up a plan in September 2018 for a public auction of the digital coins. But officials have concerns that a sale would attract the wrong kind of attention and could even put the agency’s own security at risk.
Speaking to local media, Tulli Director Pekka Pylkkanen said: “From our point of view, the problems are specifically related to the risk of money laundering. The buyers of [cryptocurrency] rarely use them for normal endeavors.”
Related:Crypto Investor’s Case Against AT&T Over $24M SIM Hack Can Proceed, Judge Rules
Tulliconfiscatedthe bitcoin trove following a successful bust of an online dark market in September 2016. At the time, bitcoin traded at around $570, meaning the 1,666 BTC was worth approximately $950,000. With prices now just under $9,200, it’s worth closer to $15 million, according to CoinDesk’sBitcoin Price Index.
At bitcoin’s all-time peak near $20,000 in December 2017, the cache would have been worth almost $33 million.
Tulli isn’t the only government authority having to decide what to do with confiscated bitcoin, usually with dollar-values many times greater than when they were first seized. The U.S. government, which has seized hundreds of millions of dollars worth of bitcoin over the years, has hosted multiple online auctions for confiscated bitcoin.
Bitcoin confiscated by the Belgian authorities wassoldby an online auction house in early 2019. Later that year, U.K. policeusedthe same auctioneer to sell more than $290,000 worth of cryptocurrency it had seized from a teenage hacker.
Related:Officials Arrest US Resident for Allegedly Laundering Drug Proceeds With Crypto
In 2018, the Finnish governmentbarredcustoms officials from trying to sell seized bitcoin on exchanges or trading platforms, instead ordering the agency to hold any confiscated digital assets in a secure cold storage solution.
Pylkkanen’s claim that most crypto holders use them for illicit purposes isn’t supported by the numbers. ANovember reportfrom blockchain analytics firm Elliptic suggested $829 million in bitcoin, just 0.5 percent of all transactions, were linked to the dark web.
• Crypto News Roundup for Feb. 13, 2020
• Ohio Resident Charged With Laundering $311M in Bitcoin for AlphaBay || A 101 Guide to Ethereum’s ProgPOW Controversy: Why the ProgPoW debate is really about process, power and the threat contentious hard forks pose to DeFi.
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,IHeartRadioorRSS.
Last Friday, on Ethereum’s core developer call, the devs agreed to push forward a controversial anti-ASICs consensus algorithm switch known as ProgPoW.
Related:Understanding This Week’s Market Whiplash, Featuring Scott Melker
The broader Ethereum community was not pleased, and has spent the last week debating both ProgPoW itself as well as the way decisions in the community get made.
In this 101-guide to the controversy, @nlw breaks down:
• What is ProgPoW
• The history of the debate
• Arguments for and against
• Who falls on what side and why
• The implications of ProgPoW for DeFi
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.
• Bitcoin News Roundup for Feb. 27, 2020
• Is Bitcoin a Safe Haven or ‘Schmuck Insurance’?
• CoinDesk Explains SIM Jacking || Latest Bitcoin price and analysis (BTC to USD): Bitcoin is facing an uncertain weekend of price action following a gruelling week that has seen it slump dramatically from last Thursday’s high of $10,500. At the time of writing it was trading above the $9,650 level of support after being propped up by the four-hour 200 exponential moving average (EMA). Weekend price action is typically unpredictable with low volume, which means that values could easily slide in either direction due to a lack of liquidity. A break down from the $9,650 level will bring price targets of $9,350 and $8,830 into the frame, while a break to the upside will undoubtedly cause a re-test of the psychological $10,000 level. It’s worth noting that Bitcoin has surged by more than 40% since the turn of the year as anticipation builds around May’s halving event. The halving will see block rewards for miners slashed from 12.5BTC to 6.25BTC per block, which has historically caused a surge in the price of cryptocurrencies as supply reduces while demand steadily increases. The two previous Bitcoin halving events heralded a series of bull markets that drove the price to consecutive all-time highs. However, Litecoin underwent a block reward halving in 2019 and it had the opposite effect with its price tumbling drastically over the following months. Another fundamental event that could cause a surge in the price of Bitcoin is the coronavirus outbreak, which has the potential to cause an economic downturn on a global scale. As global equities and capital markets begin to slide, traditional hedges to financial system like Bitcoin and gold will begin to soar as investors seek a safe haven. If it can start to cycle back to the upside with a clear breakout above $10,000 and $10,500, it isn’t inconceivable to claim that Bitcoin could well test 2019’s yearly high of $14,000 over the coming months. For more news, guides and cryptocurrency analysis, click here . Bitcoin pricing Current live BTC 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: Story continues 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 January 3 2009, the Bitcoin network came into existence. Nakamoto mined block number “0” (or the “genesis block”), which had a reward of 50 Bitcoins. More BTC 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 . || Bitcoin could more than double again in 2020 after 30% surge, says Tom Lee: After beating the overall market’s return in 2019, bitcoin (BTC-USD) is off to its hottest start to the year in nearly a decade.
Rising nearly 30% so far in January to top $9,000, the world’s largest cryptocurrency by market cap is now trading above its 200-day moving average — a significant signal for more gains ahead, according to Fundstrat Global Advisors Managing Partner Tom Lee.
In a new note out Wednesday, Lee highlighted that the cryptocurrency has historically traded higher 80% of the time after notching that technical feat.
“Moving above the 200-day [moving average] is validating that Bitcoin is back in a ‘bull market,’” Lee wrote, adding that bitcoin has historically rallied by a larger percentage in the ensuing six months on average when trading above its 200-day moving average than trading below it.
According to Fundstrat research, bitcoin has historically notched forward returns of 193% over the ensuing six months, on average, after topping its 200-day moving average, compared to the modest 10% gain it averages when trading below that mark.
Interestingly, bitcoin’s surge to start the year has come at a time when fears over the spread of coronavirus across the globe has rattled equities in the U.S. and abroad. Lee estimates that to be further support for the theory that bitcoin is increasingly being seen as a safe haven asset, similar to a digital gold. Indeed, over the past three months, bitcoin’s correlation with the S&P 500 has flipped from positive 13% to negative 10%, indicating more market volatility could continue to carry bitcoin higher.
“Bottom line: 2020 looks to be strong for crypto,” Lee concludes. “The biggest risk, in our view, is that crypto demand weakens for retail investors.”
Zack Guzman is the host ofYFi PMas well as a senior writer and on-air reporter covering entrepreneurship, cannabis, startups, and breaking news at Yahoo Finance. Follow him on Twitter@zGuz.
Read the latest financial and business news from Yahoo Finance
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Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,SmartNews,LinkedIn,YouTube, andreddit. || Bitcoin Faces Further Losses if Bulls Can’t Disrupt Bearish Chart Pattern: • Bitcoin has formed a bearish head-and-shoulders (H+S) pattern with neckline support at $9,400.
• An H+S breakdown would imply a short-term bearish reversal and expose deeper support near $9,070.
• A move above $10,128 is needed to revive the immediate bullish setup.
Bitcoin(BTC) is down but not out, with prices holding above key support near $9,400. However, if that level is breached, more chart-driven selling may be on the cards.
The top cryptocurrency by market value is currently trading around $9,560, representing a nearly 2 percent drop on the day, according to CoinDesk’sBitcoin Price Index.
Prices fell from $10,000 to $9,500 on Monday, engulfing the preceding day’s price gain. The drop came as stocks collapsed and classic safe-haven assets rallied on the coronavirus scare. Notably, the Dow Jones Industrial Average fell by over 1,000 points, while gold rose to $1,676 per ounce – the highest level since February 2013.
Related:Bitcoin Erases 38% of 2020 Price Rally as Bears Gain Strength
With bitcoin failing to post gains during the risk-off tone in the financial markets, the popular narrative that the cryptocurrency is a haven assethas weakened. Pricesrallied by30 percent last month amid the U.S.-Iran tensions and the coronavirus outbreak in China, convincing the analyst community of its strengthening safe-haven appeal.
With Monday’s drop, bitcoin has also formed a head-and-shoulders pattern on technical charts, as seen below.
The head-and-shoulders pattern is a sign of a bearish reversal. A drop below the neckline support marks a transition from a bullish higher-lows, higher-highs setup to bearish lower highs and lower lows.
At press time, the neckline support is seen at $9,400. Acceptance under that level would confirm a breakdown and create room for a deeper decline to $8,300 (target as per the measured move method).
Related:‘Short Bitcoin’ ETP Available to Investors on Germany’s Second-Largest Exchange
Seasoned traders would argue a head-and-shoulders breakdown often traps sellers on the wrong side of the market. While that can be true, its effects depend on context. If the pattern appears following a notable price rally or at multi-month highs, as is the case here, the breakdown tends to cause more sellers to join the market, keeping prices low.
That said, a post-breakdown sell-off, if any, could be cut short near the crucial support levels lined up at $9,188 – bitcoin had turned lower from that level on Jan. 19 – and the higher low of $9,075 created on Feb. 4.
Sellers failed to keep prices below $9,500 during the early European trading hours. Moreover, dips below that level have been consistently short-lived since Feb. 19.
If that level continues to restrict losses during the U.S. hours, some buying pressure may emerge to lift prices back to $9,750-$9,800. The outlook, however, would turn bullish only if prices rise above $10,128,as discussedMonday.
Disclosure:The author holds no cryptocurrency at the time of writing
• Bitcoin’s Coronavirus Selloff Throws Cold Water on Safe-Haven Argument
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[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: down || Prices: 8787.79, 8755.25, 9078.76, 9122.55, 8909.95, 8108.12, 7923.64, 7909.73, 7911.43, 4970.79
|
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 2019-06-21]
BTC Price: 10144.56, BTC RSI: 74.78
Gold Price: 1396.20, Gold RSI: 81.18
Oil Price: 57.43, Oil RSI: 55.33
[Random Sample of News (last 60 days)]
Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 06/05/19: Bitcoin Cash ABC gained 0.53% on Sunday. Partially reversing a 1.62% fall from Saturday, Bitcoin Cash ABC ended the week up 17.2% to $290.35.
Relatively range-bound throughout the day, Bitcoin Cash ABC struggled to break out from the 23.6% FIB of $291. A mid-morning intraday high $298.29 saw Bitcoin Cash ABC come up short of the first major resistance level at $308.02.
Bitcoin Cash ABC fell back to a late morning intraday low $283.78 before finding support. In spite of the pullback, Bitcoin Cash ABC steered clear of the first major support level at $268.02. Sub-$290 support delivered through the afternoon, though Bitcoin Cash ABC was unable to hold above the 23.6% FIB by the day’s end.
At the time of writing, Bitcoin Cash ABC was down by 1.57% to $285.80. A particularly bearish start to the day saw Bitcoin Cash ABC slide from a morning high $291.80 to a low $280. The sell-off saw Bitcoin Cash ABC fall through the first major support level at $283.32.
For the day ahead, a move back through to $290 levels would support a rebound later in the day. A breakthrough to $294 levels would give Bitcoin Cash ABC a run at the first major resistance level at $297.83.
Support from the broader market would be needed, however, for Bitcoin Cash ABC to take a run at $300 levels. Barring a broad-based crypto rally, Bitcoin Cash ABC will likely fall well short of the second major resistance level at $305.32.
Failure to move back through to $290 levels could see Bitcoin Cash ABC take a bigger hit on the day. A fall back through the first major support level at $283.32 could see Bitcoin Cash ABC visit $270 levels before any recovery.
Barring a crypto meltdown, however, Bitcoin Cash ABC would likely steer clear of the second major support level at $276.30.
Litecoin slid by 2.87% on Sunday. Following on from a 1.13% fall from Saturday, Litecoin ended the week up 10.41% to $74.79.
Bearish through the day, Litecoin fell from a start of a day intraday high to a late afternoon intraday low $74.4.
Litecoin recovered to a high $76.66 before easing back to $74 levels. The moves through the day saw Litecoin steer clear of the major support and resistance levels.
At the time of writing, Litecoin was down by 2.37% to $73.02. Tracking the broader market, Litecoin slid from a morning high $75.18 to a low $71.77 before finding support.
Litecoin slid through the first major support level at $73.68 and second major support level at $72.58 in the early hours.
For the day ahead, a move back through to $75.5 levels would be needed to support a partial rebound from the weekend losses. A breakthrough to $75.5 levels would bring the first major resistance level at $76.61 into play.
Barring a broad-based crypto rally, however, Litecoin will likely come up short of $78 levels on the day.
Failure to move back through to $75.5 levels will leave Litecoin deep in the red for the day. A pullback through the morning low $71.77 could see Litecoin visit $70 levels before any recovery.
Barring a meltdown, however, Litecoin will likely steer clear sub-$70 on the day.
Ripple’s XRP slipped by 0.86% on Sunday. Following on from a slid by 1.33% on Saturday, Ripple’s XRP ended the week up 1.6% to $0.31711.
Range-bound through the day, Ripple’s XRP rose to a mid-morning intraday high $0.31964 before hitting reverse.
The reversal saw Ripple’s XRP fall to a late intraday low $0.3122 before finding support. An uneventful day saw Ripple’s XRP steer clear of the major support and resistance levels on the day.
At the time of writing, Ripple’s XRP was down by 0.78% to $0.31191. Bearish through the early hours, Ripple’s XRP fell from a morning high $0.31599 to a low $0.3110 before steadying.
The early move saw Ripple’s XRP fall through the first major support level at $0.3112.
For the day ahead, a move back through to $0.3150 levels would support an afternoon rally. A break through the first major resistance level at $0.3186 would bring $0.32 levels into play before any pullback.
Barring a broad-based crypto rally, however, Ripple’s XRP will likely come up short of the second major resistance level at $0.3228.
Failure to move through to $0.3150 levels could see Ripple’s XRP fall deeper into the red. A pullback through the morning low $0.3110 would bring the second major support level at $0.3080 into play.
Barring a crypto meltdown, however, Ripple’s XRP will likely steer well clear of the third major support level at $0.3005.
Please let us know what you think in the comments below
Thanks, Bob
Thisarticlewas originally posted on FX Empire
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• Stockmarket Should Remain Strong as Long as Fed Avoids Misstep || XTERAT co-founder on bringing streetwear fashion to gaming: Coin Rivet recently sat down to speak with XTERAT co-founder Alex Russman about his company’s vision to bring streetwear fashion to the gaming world using non-fungible tokens . What is XTERAT? Alex co-founded XTERAT alongside Isa Kivlighan with the aim of linking “physical design assets with their digital counterparts”. The core concept centres on the idea of buying a physical item (in this case clothing) and then taking a digital representation of that item into a video game. “Initially we want to authenticate fashion – starting with streetwear – on the blockchain to really bring that element of scarcity and limited-edition ownership to the digital realm as well,” comments Alex. XTERAT makes use of the Enjin platform, which already has an XTERAT collection available. The collection is grouped as non-fungible tokens (NFTs). Each NFT is linked together in terms of being a similar token, though each can have a unique history and ownership transfer history. Alex notes that this is key because it allows buyers to prove the authenticity of special and limited edition items – for example, a piece of clothing might have been owned by a celebrity or Instagram influencer before being purchased by the new owner. The authentication process can often be tricky, but XTERAT solves this issue with NFTs because the NFT would have unique characteristics and a certificate of authenticity. The NFT standard used is the ever-popular ERC-1155, which has become increasingly prominent in blockchain games. “We’re really embracing all of the technology the Enjin team have delivered. We feel that’s what gives us the ability to leapfrog other projects and start delivering on their platform,” Alex notes. While speaking with Alex, he revealed that XTERAT doesn’t consider the world of fundraising suitable, and instead it will be taking the route of seed funding. “At the moment we’re talking to several individuals and companies for initial seed funding to take our partnerships further and develop our product and platform,” he says. Story continues “There’s the crypto world of fundraising, but we don’t feel that type of fundraising is suitable for us – that’s a relief, we have the Enjin platform and technology.” “It’s more just about building a business on technology that exists – that’s very much a 2019 sentiment.” “The most original project here” — check out our stand at #TNW2019 . #ethereum #enjin #streetwear #fashion #drip pic.twitter.com/gHjNW8HgV1 — XTERAT (@XTERAT_) May 10, 2019 The XTERAT exchange platform One avenue XTERAT is currently contemplating is developing an exchange platform for digital items, though this idea is no further than the research phase at the moment. Alex states that viewing this platform as a currency exchange would be the wrong perspective: “This is more of an extension of a trading platform like eBay or Amazon where you would buy an item of clothing and send it physically to someone, but also making a digital transferal of the token linked to it.” There are often concerns when purchasing items of clothing because there is a risk the items could be fake. In these scenarios, the item is often sent to a middleman who can authenticate the item before selling it on the sellers’ behalf. “That authentication process is important, it’s vital. Our idea is to take away the middleman as much as possible, and building on the Enjin platform allows these tokens to be taken to other trading platforms and ultimately people will be able to buy fashion assets a lot more reliably with a lot more security,” says Alex. ‘Streetwear is a fantastic kind of launchpad for this type of project’ When I ask how difficult it will be to onboard streetwear designers, Alex elaborated: “In terms of fashion as a whole, there will be some difficulties because we’re kind of bridging the realms of art, design, and technology – and they don’t necessarily have a huge overlap.” “Streetwear is a fantastic kind of launchpad for this type of project because streetwear fans and users tend to be much younger.” While Alex doesn’t like categorising people, he says it is often millennials who are surveyed as being knowledgeable about Bitcoin and cryptocurrency. “A lot of the young millionaires who have earned their money in clever and shrewd investments in Bitcoin are spending that wealth on streetwear items and clothing.” “It’s an area of fashion that has a demographic which is very OK with cryptocurrency, its importance, and usage. That makes it much easier to approach streetwear designers.” Alex went on to provide the example of Lil’ Pump , who recently started accepting Bitcoin and Lightning payments at his online merchandise store. “This adoption by this younger generation really highlights how this digital divide is ongoing,” he says. Alex also spoke about a designer XTERAT is currently partnered with in Berlin called Studio Obectra and how “he was vaguely aware of the name Bitcoin but had no understanding of the technology beyond that”. “It was a great experience for us who are very much involved in the fashion world and the design world to talk to them about this technology and how it could benefit consumers, producers, and businesses.” “Ultimately, we were able to refine our business model to find something that works for consumers and designers that businesses can apply down the supply chain.” “There’s a clear demand from designers to prove the origin of their materials. That’s what the consumers are asking for – is it ethically sourced?” The Studio Obectra platform is up on Enjin X @enjin ! Peep the platform here: https://t.co/rvtVp5HS1y pic.twitter.com/gIOXX10wqv — XTERAT (@XTERAT_) May 8, 2019 Bringing physical items to the gaming world Perhaps the most interesting aspect of XTERAT isn’t the proof of authenticity that comes with merging NFTs with clothing, but rather the ability to bring them into the gaming world – a concept which is only made more enticing with the development of Enjin’s Multiverse. “It’s really what the Enjin platform is all about in terms of having your crypto digital assets and linking them into multiple gaming universes – provably digital scarce items which you can take into different worlds,” says Alex. “In the physical realm you can own a jacket and wear it anywhere. In terms of the Enjin platform, you can take the digital asset into multiple worlds, which is revolutionary and incredibly exciting.” Alex takes a moment to note how this concept isn’t limited to the gaming world – it applies to any tech-enhanced world, such as augmented reality. “Enjin’s platform is perfect in terms of distribution. In terms of linking the physical to that, it’s very simple: when you buy a physical piece of clothing, you get a token that is linked to an asset sent to your wallet and then you have proven ownership.” In terms of the Multiverse, Alex states it will be a case by case basis for which physical items appear in which Multiverse game. Going forwards, he hopes there will be collaborations where digital realms approach fashion designers in the physical realm to help bring more fans and customers to both the designer and the game. Super excited to be partnering with our favorite Berlin fashion designer [Studio Obectra] to exhibit our platform at the TNW Conference this Friday @thenextweb . Stay tuned for more drip. #xterat #blockchain #fashion pic.twitter.com/bMuQZTEw3c — XTERAT (@XTERAT_) May 8, 2019 XTERAT’s focus There are three areas XTERAT is currently targeting. The company wants consumers to be able to own a digital asset linked to a physical asset, the designer to be able to take their physical creation into the digital world and verify its authenticity, and finally businesses to be able to validate authenticity. In short, XTERAT wants to usher in a new era of partnerships between fashion designers and gaming worlds to bring the physical and digital closer together. The post XTERAT co-founder on bringing streetwear fashion to gaming appeared first on Coin Rivet . || Anti-Patent Troll Consortium Is Recruiting Blockchain Startups: Three blockchain technology companies have joined a multi-industry consortium dedicated to protecting members against the threat of patent assertion entities (PAEs) – more commonly known as patent trolls.
Revealed exclusively to CoinDesk, Peer Mountain, MARKNetwork and IBISA have signed on to LOT Network, which was formed in 2014 by Google, software maker Red Hat and manufacturer Canon. LOT’s more than 400 members also include such household names as JPMorgan Chase, Ford, Microsoft, Tesla, Alibaba and GM.
While the blockchain firms involved aren’t as well-known, their participation is a sign that the technology is expected to become another patents battlefield, like the storied smartphone wars of the last decade.
The Copyright for the Satoshi White Paper is Already Causing Trouble
Easily the best-known example of a firm lining up an arsenal of blockchain and crypto patents as a potential business model is self-professed bitcoin inventor Craig Wright’s company nChain.
Wright, who was recently in the news for registering a copyright on the Bitcoin white paper, has amassed some 500 blockchain and crypto-related patents.
“Craig Wright’s lawyers are filing patents to basically put landmines in the technology roadmap waiting for the industry to come down his street so he can impose a tax,” saidLOT CEO Ken Seddon, who’s seen this pattern play out in other industries. “It’s a shotgun approach: he is just going to sit there and speculate on all the possible paths and the possible forks the industry might take, sowing his seeds and waiting to collect his royalty checks.”
nChain did not respond to requests for comment by press time.
‘Everyone Can Be Satoshi’: Liu Breaks Silence on Contest of Craig Wright’s Bitcoin Copyright
For LOT and its new members, Wright’s actions are a wake-up call. To borrow from a quote attributed to Pericles: Just because blockchain startups may not take an interest in patents doesn’t mean patent trolls won’t take an interest in them.
“Philosophically, many project leaders are opposed to the very idea of intellectual property ownership such as patents,” said Jed Grant, CEO of Peer Mountain. “However, it is important to understand that it is not just lawyers who have a stake in the patent troll fight. Developers, inventors and software engineers are already adversely impacted by frivolous litigation.”
LOT’s “immunization” works like a poison pill: When members join they sign a 10-page agreement which states that if their patents ever fall into the hands of a patent troll then the rest of the community members get an automatic and free license.
Every member of LOT’s 430-strong community, which collectively own about 1.7 million patents, is making this exact same commitment to everybody else, said Seddon, pointing out they can of course still defend their ideas with their patents in the traditional normal way of fair play among firms.
“It’s a license agreement or a contract and we are licensing each other to our patents,” he said. “It’s called an encumbrance in legal terms; we are attaching an encumbrance to this patent. So if I sell it to a [patent troll] they can’t come after you because you get to say, hold on, I have a license.”
Seddon saidinnovation and patents go hand in hand, but there are always going to be some bad actors who take advantage of the system and try to make a profit from it
The root of the problem, according to Seddon, is that companies at some stage of their lives sell patents in the open market, whether a startup with a handful of patents or Microsoft with 80,000.
Patent trolls are also afforded a foothold wherever a new technology is applied to an existing system; a good example is in the auto industry where cars are now a locus for an assortment of new technology applications like smartphones, he said, adding:
“Patent trolls don’t make products, they don’t have factories or R&D centers. They are often nothing more than lawyers who have partnered with VC money to go around and buy patents and sue companies for shakedown money.”
The risk may be compounded for blockchain companies since the industry overlaps with other verticals, said Maria Mateo, project lead at IBISA.
“So we rely on other protocols to operate our businesses,” she said. “The intersection of technologies opens us up to exposure to patent troll litigation, even if blockchain patents themselves are only now starting to grow in number.”
Trollimage via Shutterstock
• Who Is Wei Liu? Second Copyright Filing Appears for Bitcoin White Paper
• US Copyright Office Says It Does Not ‘Recognize’ Craig Wright as Satoshi || What is the Litecoin price history?: Created by Charlie Lee, Litecoin has gone on to become one of the most popular altcoins on the market today. Litecoin prides itself on being quicker and cheaper to use than Bitcoin, making it perfect for everyday payments. The Litecoin price history is attached to Bitcoin’s. When you see Bitcoin going through a big pump, the likelihood is that Litecoin is going to follow. In a bear market, you can expect Litecoin to plummet once more to the depths below. Litecoin currently sits in 6th place of the cryptocurrency rankings at a price of just over $70 and a marketcap of over $4 billion. Where did it all begin? The early days of the Litecoin price history Litecoin went live in April 2013 and was a fork of the Bitcoin client. This fork offered different parameters. On release, Litecoin was valued at $4.30 or 0.031 BTC. The price dipped to around $1.50 until the first bull run kicked off, with Bitcoin leading the charge. Litecoin followed closely on Bitcoin’s tail as money began to flood into crypto and altcoins for the first time. The cryptocurrency managed to reach heights of around $44 just before the beginning of 2014 and then came crashing back down. The cryptocurrency tumbled steadily downwards. Firstly, into the $20 range and slowly but surely back into single dollar value throughout the remainder of 2014. Sideways action From the middle of 2014 to the start of 2017, Litecoin remained relatively stable as interest in cryptocurrencies waned. The original bubble of 2013/14 subsided so Litecoin was not alone in seeing this pattern. After reaching a bottom of $1.28, the coin remained floating between this before slowly creeping up to around $4. This lasted for two years despite developments being made on the platform and gaining the moniker of being the “silver” to Bitcoin’s “gold”. The bull run of 2017 If you entered the cryptocurrency market in December 2016 you could have blindly thrown a dart at any cryptocurrency and most likely have made a profit. The rise in prices of cryptocurrencies across the board was spectacular. Litecoin was no different in this case. Having started the year at a tick under $4, Litecoin defied expectations and rose to a high of $375 in December 2017. This growth in price was unlikely to ever be sustainable. The money flowing into the cryptocurrency markets from retail investors created another bubble and many newcomers FOMO’d into the scene. Unfortunately, bubbles generally pop sooner or later. Controversy surrounding Charlie Lee In December 0f 2017 the creator of Litecoin, Charlie Lee , released a tweet declaring that he had sold his Litecoin holdings. In a Reddit post, Lee explained he “no longer need[ed] to tie financial success to Litecoin’s success”. He also reassured the public that he would continue improving Litecoin. He also stated that his decision to sell did not affect the market either. Story continues The conflict of interest that Lee felt as both a creator and influencer meant that he believed in stepping away from the cryptocurrency, so that Litecoin could survive on its own. 2018 onwards After reaching the top of its price, Litecoin crashed back down to just below $30 but has since recovered slightly as the market appears to be turning. Currently sitting at just over $70, the price of the cryptocurrency is in a much healthier shape than pre-2017. Litecoin has, regardless of price, continued to develop itself. It was one of the first cryptocurrencies to implement Segwit, paving the way for Bitcoin to implement the upgrade. Conclusion Like any other cryptocurrency, it is impossible to determine whether the heights of 2017 will ever be seen again. There are always dramatic predictions but, in such an unpredictable market, nothing is ever guaranteed. The Litecoin price history is coupled to the price of Bitcoin, much the same as the rest of the cryptocurrency market. For prices to significantly rise in altcoins, then the price of Bitcoin must rise as well. Altcoins may well one day decouple from Bitcoin but this is unlikely to happen anytime soon. If you want to see the price of Litecoin rise then watch out for the price of Bitcoin rising as well. The post What is the Litecoin price history? appeared first on Coin Rivet . View comments || Tether, Bitfinex Stay Afloat Amid Controversy: Tether has been one of the most controversial topics in the cryptocurrency community over the last two years and things have come to a head over the past few weeks. The wider crypto community has been skeptical of the stablecoin and its claims that it was operating legitimately, due to concerns around its reserve policy. Stablecoins are centralized cryptocurrencies that are typically pegged to a fiat currency like the United States dollar or valuable commodities like oil or gold. Tether ( USDT ) claimed to be backed by the U.S. Dollar at a 1:1 ratio. For the last two years, industry critics have speculated that Tether did not have the necessary cash reserves in its bank accounts to back the amount of USDT in circulation. Those claims have finally been validated by Tether itself as a result of an ongoing legal battle involving cryptocurrency exchange Bitfinex which shares personnel and ownership structures with Tether and the Office of the New York Attorney General (OAG). Tethers history Tethers journey began back in 2015, with its rebranding from realcoin. It was founded by Brock Pierce , the director of the Bitcoin Foundation, with the help of software engineer Craig Sellars and entrepreneur Reeve Collins. Tether aimed to provide a true stablecoin platform for the crypto community with a utility token that was backed by the U.S. Dollar at a 1:1 ratio, with all the benefits of traditional blockchain technology. The cryptocurrency was built and is operated using an OmnilLayer platform on the bitcoin protocol. This allows anyone to see whenever tether tokens are issued, which has played a big role in the focus on the stablecoin in the past 24 months. The Bitfinex connection Tether has had an association with Bitfinex since 2015, when the exchange integrated the cryptocurrency operation into its exchange. The two companies are operated by parent company iFinex . Tethers website shows that the two companies share the same leadership, with JL van der Velde listed as the CEO of both companies. Giancarlo Devasini is the chief financial operator of both Tether and Bitfinex. Story continues Critics started raising concerns about Tether and Bitfinexs connection and operations toward the end of 2017, as bitcoin rallied during its famous bull run . To allay these fears, Tether employed Friedmann LLP to conduct a short review of its accounts in September 2017. The unofficial audit was met with further criticism by the crypto community, and an eventual subpoena from the Commodity Futures Trading Commission ( CFTC ) in December 2017 put the pressure back on the company. Tether got Friedmann back on board to conduct a full third-party audit of its accounts this time around. But less than a month into the process, the parties split , with Tether claiming that the auditors were taking too long to carry out the job. The crypto community never got a third-party audit from Tether, which could have allayed concerns considerably. Bitfinex accused of using Tether reserves to plug losses Fast forward to April 2019, an investigation started in 2018 into iFinex, Bitfinex and Tether was revealed by the Office of the New York Attorney General in 2019. The OAG alleged that Bitfinex had lost $850 million of funds needed for user redemptions and borrowed money from Tethers cash reserves to plug the gap. Attorney General Letitia James announced the court filing that alleged that Bitfinex had then used $850 million from Tethers reserves to cover a shortfall due to funds of its payments processor, Crypto Capital Corp., being seized in several different countries: Our investigation has determined that the operators of the Bitfinex trading platform, who also control the tether virtual currency, have engaged in a cover-up to hide the apparent loss of $850 million dollars of co-mingled client and corporate funds. New York state has led the way in requiring virtual currency businesses to operate according to the law. And we will continue to stand-up for investors and seek justice on their behalf when misled or cheated by any of these companies. The OAG wants the companies to stop using or spending the U.S. dollars that came from Tethers reserves. It is also requesting the companies produce documents and information related to the ongoing investigation. However, the OAG is also looking to obtain an injunction that will compel Bitfinex and Tether to continue their operations to ensure the stability of the crypto markets and protect its customers. The Martin Act affords the attorney general of New York extensive law enforcement powers to investigate issues relating to securities fraud as well as bringing criminal charges toward those responsible for alleged violations of the act. Tether, Bitfinex hit back Tether and Bitfinex have not hesitated to tackle the New York OAG and its intended course of action against them. The companies responded to the allegations brought forward by the OAG last week, claiming court filings were riddled with false assertions. They continued: The New York Attorney Generals court filings were written in bad faith and are riddled with false assertions, including as to a purported $850 million loss at Crypto Capital. On the contrary, we have been informed that these Crypto Capital amounts are not lost but have been, in fact, seized and safeguarded. We are and have been actively working to exercise our rights and remedies and get those funds released. Both parties are insistent that the OAG has overstepped the mark and that its court filings could ultimately harm its customers. However, Tethers appeal has revealed a fact that has long been feared by critics. The legal documents from Tether show that it only has 74% of cash reserves in its bank accounts to back circulating Tether tokens: In fact, Tethers reserves of cash and cash equivalents alone (without the line of credit) would cover approximately 74 percent of the outstanding amount of tether. This sort of fractional reserving arrangement is similar to how commercial banks work. No bank holds in liquid cash more than a small percentage of depositors money. The funds are invested. The markets clearly remain confident in tether, as it currently trades just shy of $1 dollar per U.S. Dollar tether even after the Attorney Generals highly inflammatory and misleading public application. Any suggestion that tether holders face liquidity risk is unsupported speculation. This finally proves that Tether is not fully collateralized by cash equivalents, as it had claimed for an extended period of time. Its lawyers also directly likened their operation to that of fractional reserve arrangement commonly used by commercial banks. This is at odds with information Cointelegraph was given by Tether two months ago. In March, Cointelegraph had contacted Tether for comment on a change to its website that indicated that tether tokens were no longer backed by only cash but by cash equivalents as well. According to the change, that would include other assets and receivables from loans made by Tether to third parties, which may include affiliated entities (collectively, reserves). Stuart Hoegner, general counsel at Tether, told Cointelegraph that it was not running a fractional reserves and that it was able to handle all redemption requests for USDT: Tether is not operating a fractional reserve. It does not have a banking business lending out reserve amounts to retail customers. Tether's reserves remain, and have always been, 100% backed by its reserves. Tether maintains the ability to honour all redemption requests. Latest events This week , parent company iFinex filed court papers in an effort to vacate the OAGs court order. The company claims that the OAGs injunction is based on incorrect facts and the wrong legal standard. IFinex argues that the OAG did not provide substantial evidence for its claims that tethers qualify as securities or commodities covered by the Martin Act. Furthermore the company believes that the attorney general cannot prove that an injunction is fully appropriate. The company further argues that the OAGs injunction is hugely disruptive to both Tethers and Bitfinexs operations because it freezes the use of $2 billion of Tethers reserves, which could be used for further investment. IFinex believes that Tether was transparent with users and investors about its reserves, and the possibility that those reserves could be loaned out to affiliate businesses like Bitfixex: The undisputed facts show that there was no ongoing fraud, and no victims in need of the drastic remedy of an injunction to protect them. Specifically, there is no dispute that Tether disclosed that its reserves could consist of loans to affiliates, and did so before the line of credit transaction the Attorney General challenges. Despite all of the activity over the last two weeks, Tether is still trading at a 1:1 ratio with the U.S. dollar, with a market capitalization of over $2,7 billion, according to data from CoinMarketCap . It should be noted that on May 6 CoinMarketCap has excluded Bitfinex trading data for its global average bitcoin price due to the cryptocurrencys $300 premium on its exchange. Bitfinex mulling native token launch? While controversy surrounds both companies, Bitfinex is reportedly on the cusp of launching its very own native token in an ambitious launch. According to initial reports, Bitfinex shareholder Zhao Dong has revealed details of a $1 billion initial exchange offering (IEO) for the native token launch. This was followed by the release of a promotional document by Dong on Twitter that outlines the plans for the IEO. It is reported that the IEO will include a total supply of 1 billion tokens - dubbed LEO. Tokens will be priced at $1 each, but investors will be required to put forward a minimum buy in of $1 million. It is understood that more that investors have expressed interest in $500 million in tokens already. Reports also claim that only qualified foreign investors will be permitted to make investments and a soft commitment to the IEO by May 5. Prospective investors will be given the chance to review the tokens white paper before either confirming or cancelling their soft commitment. If they wish to continue with their involvement, a 10% deposit will be required. According to the marketing material released by Dong on Twitter, U.S. citizens and a number of other jurisdictions listed by the Financial Action Task Force will not be able to participate in the token sale. LEO token holders will reportedly benefit from reduced crypto-to-crypto trading fees on Bitfinexs exchange as well as iFinexs decentralized exchange, EOSfinex. The token is being likened to Binances native BNB token. Whats next? Cointelegraph has reached out to Tethers general counsel, Stuart Hoegner, for comment in relation to the ongoing disputes between these parties and the OAG. As it stands, both companies seem to be continuing with their operations and the OAG has made it clear that it does not wish to harm investors and customers of Tether and Bitfinex during its investigation. With an in-depth investigation underway, details may be few and far between but this story will be one to keep an eye on in the weeks and months to come. Related Articles: NYAG Requests That Bitfinex Be Forced to Release Tether Deal Documents Crypto ATM Operator CoinFlip Postpones Tether Stablecoin Listing Fractional Reserve Stablecoin Tether Only 74% Backed by Fiat Currency, Say Lawyers NYAG Accusations Filled With Inaccuracies, Says Bitfinex Letter to Users || Catch Me If You Can: Fighting Fraud With Blockchain: Fraud impacts organizations of all types and sizes across a wide range of industries and geographies. Consequences can be direct, through financial losses, or indirect, through fines and reputational fallout. In 2018, firms worldwide lost more than $7 billion to internal fraud schemes, according to a “2018 Report to Nations,” by the Association of Certified Fraud Examiners (ACFE) — which analysed 2,600 real cases of occupational fraud from companies across 125 territories and 23 industries. Addressing the risk offraudis a key challenge for all organizations.
Blockchainis an anti-fraud technology by design. The essence of blockchain technology is a shared and tamper-proof record of activities that are time-stamped and verified by a distributed network of computers. This provides a near real-time audit trail of information being exchanged. So, even if fraudulent information is recorded on a blockchain, there is a simple way to identify and tag the associated transactions.
In the context of digital currency payments, it is almost impossible to conduct a fraudulent transaction. The value sent from one digital currency wallet to another cannot exceed the amount recorded in the sender’s wallet. Employees working in organizations transacting in digital currency would therefore find it very difficult to tamper with payment records, thereby preventing many asset misappropriation schemes such as theft of company assets — which, according to the ACFE, represented 89% of reported fraud cases.
For organizations that don’t yet conduct payments in digital currencies (the vast majority, at present), they can still leverage the benefits of blockchain technology to disincentivize fraud. For example, when documents — such as financial statements, excel sheets or any other sensitive digital file prone to tampering — are created, edited, stored, exchanged or destroyed, such activities can be automatically “logged” on a blockchain.
The process of logging these transactions to public blockchains such asbitcoinorEthereumis known as anchoring, whereby only the hash or cryptographic reference code pertaining to a particular activity (e.g., an email exchange) or file (e.g., a passport scan) is broadcast as part of a blockchain transaction. These blockchain transactions can then be viewable to anyone, for full public accountability, or only to those granted permission to view or access the original files for inspection, such as external auditors or regulators.
In this context, blockchain could be very effective in addressing financial statement fraud schemes, which involve overstating assets, revenues and profits, and understating liabilities, expenses and losses (or the opposite) — costing organizations a median of $800,000 per case, according to the ACFE report. Potential fraudsters that are aware of this auditability and the permanence of these records are consequently unlikely to carry out their desired schemes.
A lack of internal oversight combined with a high-pressure work environment provides the ideal conditions for organizational fraud to take place. AsurveybyPwC, a global auditor, showed that 52% of reported fraud cases were committed by internal actors, 24% of which were senior management. According to PwC’s “Global Economic Crime and Fraud Survey 2018” — which gathered data from 7,200 respondents across 123 different territories — usage of a blockchain-enhanced system for information exchange may help to reduce the risks and costs to reputation of senior managers committing fraud.
Currently, organizations address fraud by establishing a code of conduct, engaging with external auditors and providing authority to internal audit teams. Employing the use of data-monitoring tools and analytics also contributes to lower losses and faster detection of fraud cases, as reported by the ACFE. However, the ACFE report also cited the most common method of initial fraud detection did not rely on technology at all, but through employee tips and whistleblowing, representing 40% of cases.
Blockchain is therefore not likely to solve all types of fraud, especially those that take place primarily offline, nor does it serve to detect or predict when fraud takes place. Nonetheless, the technology’s tenets serve as a significant fraud disincentive and data integrity enforcement tool that can be used to tackle real problems, such as protecting migrant workers from corrupt employment practices and preventing tampering in real estate investment transactions.
Thomas Glucksmannis head of data management solutions at Diginex, a global blockchain solutions company.
• Exec Warns $9 Trln Trade Finance Industry Must Go Digital to Combat Fraud, Cites Blockchain
• Former Worldpay US Executive Joins Crypto Payments Firm BitPay as Its New CFO
• French Regulatory Agency Sees 14,000% Surge in Crypto-Related Scam Enquiries Since 2016
• Diar: Average Bitcoin Transaction Fees Increased by Nearly 200% From March to April || Bitcoin Scam Uses X-Men’s Hugh Jackman to ‘Turn You Into a Millionaire’: ByCCN Markets: In their most current mutant form, the Bitcoin Evolution/Bitcoin Revolution scams are using X-Men star Hugh Jackman as bait. According to the fraudsters, the Australian actor who is best known for his role as Wolverine in the X-Men franchise has stumbled upon a ‘wealth loophole’ which can make anyone a millionaire within four months.
Mickyinitially reported the scam which is being pitched mostly to Australians by promising returns of over 10,000 percent.
Bitcoin scam landing page
One of the bitcoin scam’s landing pages adopts the layout, style and tone of a mainstream news website. However, there are some dead giveaways that suggest it’s not a legitimate online publication. This includes the fact that all the links on the page point to a website designed to harvest visitor information.
Additionally, the fabricated feature shows it has a suspiciously high number of comments; nearly 4,000 and 12,000 social media shares. Clicking on the comments takes you directly to the same information-harvesting website.
For the trained eye, the landing page also lacks any legal or corporate information at the bottom that any legitimate organization would have. One of the scam’s ad banners show Jackman speaking with the Bitcoin logo in the background.
Bitcoin scam popup
Read the full story on CCN.com. || Kik CEO Says Firm Spent $5+ Million on Negotiations With US SEC: Report: Ted Livingston, the CEO of Canadian-based messaging startup Kik , told cryptocurrency news outlet Coindesk that the company spent over $5 million on ongoing negotiations with the United States Securities Exchange Commission ( SEC ). The news was revealed in a report published on May 16. As Cointelegraph reported at the end of January, the SEC stated that it believes that Kiks Token Distribution Event two years ago violated securities laws when the company raised $97 million during the sale. Following the SECs recommendation of an enforcement action in November 2018, Kik was served with a Wells Notice, a letter to the company that needs to be responded to within 30 days. Per the report, Livingston told the publication on Thursday at the Token Summit in New York that the company spent over $5 million on its negotiations with the regulator. He also reportedly added: Weve spent a lot of time on this, weve spent the last 18 months traveling to Washington . In January, the firm also warned U.S. regulators that it would fight a proposed enforcement action against it. Last week, Amy Starr, chief of the office of capital markets trends at the SEC, expressed the regulators willingness to interact with local crypto and blockchain-related businesses. Starr argued that U.S. securities laws are written to be dynamic. Related Articles: US Regulator Joins Canada in Fining Blockchain Firm CEO for Securities Act Violation Expert: SEC Still In Information-Gathering Mode Regarding Bitcoin ETF US Tax Authority Prioritizes Issuing Guidance on Cryptocurrencies Circle Releases Another Attestation Report on Stablecoin USDCs USD Reserves || The Elk Is a Tiny Prototyping Board for Building Blockchain-Connected Devices: The team at Elk has had experience building open-source hardware for IoT. Now its trying its hand at blockchain. The firm will soon launch a tiny board that can connect to a blockchain and control electronic components like motors, sensors and switches. That means you can build an embedded blockchain system in a few minutes. Elk uses the Koyn Arduino library that makes it easier to connect and program blockchain-connected devices. For example, you can use the board to accept payments and then turn on power to a device or even create a primitive ATM. Proposals Merger Paves Way for New Bitcoin Lightning Features The board has two processors, as well as storage and a WiFi module. The board will support ethereum and bitcoin and uses Whisper and Swarm for decentralized messaging and storage. The team plans to add support for other blockchains going forward. Elk founders Amr Saleh and Islam Mustafa also created the 1Sheeld , a board that lets you control IoT devices using your phone. That product led to the development of Elk. Saleh said: We believe current blockchain development is sub par, let alone blockchain development for embedded devices. Theres room to make a 10x improvement to the UX and thats what were setting out to do. We are delivering the Arduino-like experience to blockchain development, with all the libraries that Arduino already supports. Tor Makes Launching Bitcoin Lightning Nodes Easier for Users, Casa Finds The pair built the board at a hackathon and found the concept so compelling they wanted to turn it into an actual product. At the ETHDenver 2018 Hackathon, we built a prototype of a development board that offers the simplicity of Arduino for building blockchain-connected devices. We ended up winning first place, and the Elk project was born, said Saleh. The team is crowdfunding in June 2019 and has a placeholder website up to collect email addresses from interested parties. Pricing hasnt been announced, but the Kickstarter campaign will offer early-bird discounts. Story continues Elk board image courtesy of the startup Related Stories Securitize Open-Sources Its Protocol, Partners With tZERO Token Exchange Microsoft Launches Decentralized Identity Tool on Bitcoin Blockchain || Ripple: Why Corporations, Banks Love It While Crypto Community Hates It: Except for the XRP Army, the company is not getting any love from the crypto community. | Source: Shutterstock By CCN : Ripple is arguably the most divisive cryptocurrency. Earlier this year, the company surpassed a 200-customer milestone as financial institutions such as Transpaygo, WorldCom Finance, and Euro Exim Bank signed up for RippleNet. If Ripple was like any other cryptocurrency, enthusiasts would have celebrated this accomplishment. Except for the XRP Army, the company is not getting any love from the crypto community. In this article, we explore the reasons why corporations love Ripple while almost everybody else hates it. Why Corporations Love Ripple It is quite easy to understand why corporations love Ripple. By using XRP, corporations such as banks can remove the middleman out of the equation when sending cross-border payments. Without third-party involvement, costs are significantly reduced. For instance, PayPal charges around 3% for electronic payments. If you use Ripple, the average transaction fee is currently 0.0009 XRP , which is negligible considering that the price of one XRP is around $0.37. Ripple transaction fees Average fees charged by Ripple | Source: BitInfoCharts Another reason why corporations love Ripple is its scalability. XRP can handle 1,500 transactions per second and has the potential to match Visa’s same throughput of 50,000 TPS. On top of that, recipients can get their money in as little as four seconds. Ripple transactions Ripple’s transactions per second compared to Ethereum and Bitcoin | Source: Ripple To give you context on XRP’s efficiency, TechCrunch founder Michael Arrington sent $50 million and it took the network three seconds to settle payments. More importantly, the transaction cost 30 cents . Read the full story on CCN.com . View comments
[Random Sample of Social Media Buzz (last 60 days)]
John McAfee: Bitcoin Time Traveler Proof That BTC Will Hit $1 Million https://t.co/7TVDQmaGNc via @YahooFinance || @jlloydbrasil @MrHodl he hasn't taken his bitcoin but is trying to crack the encryption that Paul Le Roux stored away his bitcoin in. he isnt' actually in possession unless he cracked the truecrypt || ひろぴー！！！
(誰やろ... || Crypto is still so, so far from being able to be used and understood by the general public. We have a lot of work to do. || Интересно || “Disastrous”: Dow Sinks as Markets Realize Trump Really Is This Stupid #BTC https://t.co/1z1Srh2Wii || @MihailoBjelic What is MENAPAY? You heard about it? They accouncing that their IEO end in 2 days...#blockchain #cryptocurrency #fintech #bitcoin #Crypto || 1: Bitcoin average price is $9084.04800757 (-0.78% 1h)
2: Ethereum average price is $267.083554623 (-0.31% 1h)
3: XRP average price is $0.4334232366 (-0.75% 1h)
4: Litecoin average price is $133.782290288 (-0.98% 1h)
5: Bitcoin Cash average price is $413.96061006 (-0.47% 1h) || @lordofthebags @ViacoinMAN Yeah, I'm not that bright and I knew we were off the gold standard for awhile and long before Bitcoin existed. || You ought to Take your time to check this! The most gorgeous ever! #Shato
|
Trend: down || Prices: 10701.69, 10855.37, 11011.10, 11790.92, 13016.23, 11182.81, 12407.33, 11959.37, 10817.16, 10583.13
|
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 2016-01-14]
BTC Price: 430.31, BTC RSI: 48.04
Gold Price: 1073.90, Gold RSI: 46.87
Oil Price: 31.20, Oil RSI: 30.71
[Random Sample of News (last 60 days)]
How Blockchain Can Reform The Real Estate Industry: Bitcoin has gotten a bad reputation this year after several high profile hacking attacks and scams saw investors lose huge sums of money. The cryptocurrency has also been painted as a tool for criminals after dark web sites like Silk Road revealed illegal transactions using the currency. While the currency itself is unlikely to catch on as a mainstream form of payment in the coming year, many believe that blockchain, the ledger like technology that bitcoin runs on, could explode in 2016. Blockchain Applications Across The Board The potential for blockchain is wide reaching. The technology could benefit everyone from finance firms to the music industry by making transactions easier to follow and more difficult to forge. Several blockchain firms have emerged in order to help companies explore the possibility of using the technology within their industry. Blockchain For Real Estate One space that many believe could get a blockchain makeover in the coming year is real estate. Blockchain would make title transfers safer, faster and more efficient by automating the process and ensuring that legal battles over fraudulent titles were a thing of the past. At the moment, it is relatively easy for a criminal to create false title documents and transfer ownership of a property to themselves. The of fighting such crimes each year is around $1 billion, a sum that could be saved with a blockchain-run system. Better Price Comparison Using blockchain would also make comparing similar properties for house hunters. At the moment owners can keep lease prices private, making it difficult to find comparable sales figures. However, if all of that data was stored on blockchain, it would be easily searchable and available to both buyers and sellers. See more from Benzinga Not All Of Clinton's Policies Are Bad For Pharmaceuticals What's In Store For Apple In 2016 Google Is Developing A Messaging Service To Compete With Rivals © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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 || 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. || ATM Market Worth $24.92 Billion by 2022: Grand View Research, Inc.: SAN FRANCISCO, CA--(Marketwired - Dec 14, 2015) - The globalATM marketis expected to reach USD 24.92 billion by 2022, according to a new study by Grand View Research, Inc. Rising demand for automated wireless communication devices along with growing security standards are estimated to drive the industry.
Enhanced security standards for safer online, and physical financial transactions has led to a significant rise in use of these services. Further, continuation of strict security standards and safer modes of financial transactions are expected to have a substantial impact on the industry growth.
Automation of the basic financial transactions and technological advancements increasing at alarming rate would increase mobile transcations among the customers. Linkage of ATMs with wiireless devices would facilitate the customers to complete the transcations securely.
Browse full research report with TOC on "ATM Market Analysis By Solution (Managed Services, Deployment) And Segment Forecasts To 2022" at:http://www.grandviewresearch.com/industry-analysis/atm-market
Rising competition amongst the banks to increase the penetration, would lead to its huge installation base, thus offering lucrative growth opportunities for the industry. In order to reduce the frauds, manufacturers and financial institutions are opting for anti-skimming, biometric devices, and voice recognition systems.
Further key findings from the report suggest:
• ATM deployment solutions industry accounted for over 70% of the overall revenue in 2014. They comprise installed machines at varied locations such as worksite, onsite, offsite and mobile segment. The deployment revenue comprises of installed machines and services as well as its maintenance. Rise in installation base and increasing maintenance activities are estimated to drive segment growth.
• ATM managed services market is estimated to exhibit considerable growth, growing at a CAGR of over 11.0% from 2015 to 2022. It contributes significantly towards strengthening the infrastructure for multichannel delivery for better customer retention, acquisition and cross selling opportunities.
• North America ATM market dominated in terms of revenue in 2014, and is expected to significantly lose share by 2022. Adoption of smart machines across countries such as U.S. is estimated to impel growth across this region. Increasing trend of trading in digital currency is driving demand for Bitcoin ATMs across the region.
• Asia Pacific ATM industry is expected to grow at a substantial growth rate of over 12% from 2015 to 2022. Rising demand for self-service machines and ever increasing customer base across regions such as China and India are estimated to drive the regional demand over the next seven years. Additionally, increasing trend of outsourcing its related activities by financial institutions is projected to positively impact growth across this region.
• ATM market share is occupied by companies such as NCR Corporation, Diebold Inc, Wincor Nixdorf, Euronet Worldwide and Nautilus Hyosung. Product innovations and strategic partnerships with the manufacturers are some of the notable strategies adopted by the vendors. For instance, In October 2014, Diebold launched a new 5500 series of with advanced security features such as biometric finger-vein readers and security camera provisioning.
Grand View Research has segmented the ATM market on the basis of solution and region:
• ATM Solution Outlook (Revenue, USD Million, 2012 - 2022)Managed ServicesDeploymentOnsiteOffsiteWorksiteMobile
• ATM Regional Outlook (Revenue, USD Million, 2012 - 2022)North AmericaEuropeAsia PacificRoW
Browse related reports by Grand View Research:
• Online Media Market -http://www.grandviewresearch.com/industry-analysis/online-media-market
• Electronic Contract Manufacturing Services Market -http://www.grandviewresearch.com/industry-analysis/the-global-electronic-contract-manufacturing-services-market
• Customer Relation Management (CRM) Market -http://www.grandviewresearch.com/industry-analysis/customer-relation-management-crm-market
• Data Management System (DBMS) Market -http://www.grandviewresearch.com/industry-analysis/dbms-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Read Our Blogs -mediafound.org,ni2014.org || 10 Tech Predictions for 2016: As I always say, predicting what will happen in the tech industry over a short time horizon is a lot like shooting darts at Jell-O. But someone’s got to do it and it may as well be me. Besides, myprophecies for 2015didn’t do nearly as well asin 2014, and I’m itching to redeem myself.
I did hit a number of forecasts out of the park, including the success of Apple Pay and the demise of Twitter CEO Dick Costolo. And my prediction that the Nasdaq would break its all-time high and then fizzle out turned out to be reasonably accurate.
But a few of the calls I made, including those aboutnet neutralityand the Comcast – Time Warner Cable merger – were thwarted by Netflix CEO Reed Hastings and federal regulators. [Sigh.] And my bet oncinematic reality startup Magic Leapnever made the jump from virtual to reality.
Let’s see if I can do better this year. Here’s what my crystal ball says will happen in 2016:
Users will develop smart gadget fatigue.While smartphones and tablets, to a lesser extent, will continue to see strong growth in emerging markets, the growth curve will continue to flatten out in mature markets – especially among Android devices. Wearables will get a boost from Apple Watch 2 but unit sales will remain unimpressive compared with the incomparable iPhone.
Jack will tweak Twitter.O Twitter, Twitter! Wherefore art thou Twitter? The return of Jack Dorsey as CEO will see the cofounder do a lot of Facebook-like (move fast and break things) tweaking to Twitter, starting with increasing the 140 character tweet limit. Jack will continue to tweak the product until something good happens, as in renewed user growth and engagement.
Apple and Google car hype will reach fever pitch.Car tech is heating up in a big way. And since the market’s response to Apple’s first new products since Steve Jobs – Apple Watch and Apple TV (the product, not the hobby) – has been muted, fanboys will be clamoring for rumors on the car front. And Google will likewise be pressured to show progress on at least one of its massive Alphabet ventures, notably its self-driving car.
Drones will continue to bug neighbors, privacy buffs and the FAA.Drones will remain an annoying hobbyfor the foreseeable future. Unfortunately, nobody in desperate need of a midnight pizza or a six-pack will be getting one delivered by drone anytime soon. And definitely not anytime this year.
The digital and real worlds will meet in augmented reality (AR).Virtual reality has been the next big thingfor as far back as I can remember, but the technology behind Facebook Oculus Rift, Samsung Gear VR and Google Cardboard is becoming more real all the time. A breakthrough, however, is more likely in the AR space, where the digital and real worlds meet. That means something will pop from Magic Leap, Microsoft HoloLens, Google Glass 2, or who knows, maybe Apple.
The tech bubble will correct.With notable exceptions like Netflix and Amazon, tech stocks took a breather in 2015 after an impressive six-year bull run. But the slowing global economy, the Fed’s monetary tightening, and terrorism concerns will let some air out of theprivate equity bubbleand take the Nasdaq down into correction territory.
Satoshi Nakamoto, the mysterious Bitcoin founder, will not be found.Wired, Gizmodo and every other tech media outlet have been hot on the trail ofidentifying Satoshi Nakamoto, the pseudonym of Bitcoin’s mysterious founder. They thought they had it figured out a few weeks ago, but that turned out to be an elaborate hoax. Still, it was nowhere near as embarrassing asNewsweek’s Dorian Nakamotodebacle of 2014.
The IPO market will be weak.The private equity bubble is keeping late-stage startups that would ordinarily go public out of the IPO market. That will change when there’s a unicorn shakeout, investors get burned and VCs stop throwing money at startups at crazy valuations. That’s when tech companies will once again see public markets as viable exits. That’s when you’ll seeunicorns stampede on Wall Street. And it won’t be in 2016.
M&A activity will be strong.With the bull market running out of steam and private investors becoming more cautious, M&A exits will be on the rise. Unfortunately, a lot of them will be companies that maintain high burn rates until it’s too late and end up going for dimes on a dollar in fire sales.
Yahoo will sell its core business and Marissa Mayer will be out as CEO.Here’s a fun little rhyme for 2016, courtesy of Humpty Dumpty:
Yahoo Yahoo sat on a wallYahoo Yahoo had a great fallAll the Valley’s CEOs and all the Valley’s chairmenCouldn’t put Yahoo Yahoo together again
Jerry Yang, Carol Bartz, Roy Bostock, Tim Morse, Scott Thompson, Ross Levinsohn, Fred Amoroso, Maynard Webb. I’m sure I missed a CEO or chairman somewhere in there, but in any case, enough is enough. It’s long past time to put this company, its board, and Marissa Mayer out of their misery. Yahoo will be acquired or taken private in 2016.
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• The Most Annoying Aspects of Our Tech-Crazed Culture || 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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• What Does The End Of The Oil Export Ban Mean For Investors?
• Could 2016 Be The Year Of Drone Deliveries?
• Are Bank Stocks The Way Forward In 2016?
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Trade Options? Here's How To Get Involved In Bitcoin: By now, Bitcoin needs no introduction. The digital asset has become the most popular cryptocurrency in the world, and people are already getting used to using it and trading it every day.
But, are there other ways to capitalize from the fluctuations of the currency? An innovative way to trade the popular cryptocurrency uses binary options.
The Playbook
Do you think the Bitcoin will continue to surge? Or will it lose value going forward?
Whatever your thoughts on the issue are, binary options might offer an interesting way to play the events with relatively low collateral.
Related Link:Think Energy Has More Downside? Here Are Two Ways To Play It
What Are Binary Options?
Investing via binary options is just that: playing a binary event. “Binary options are limited risk contracts based on a simple yes/no market proposition like will the markets go up by the end of the trading week,” binary options trading site Nadex .
How To Trade Bitcoin With Binary Options
Via binary options, traders can partake in the popular Bitcoin market with “limited risk, short-term contracts in a transparent, regulated marketplace.”
At Nadex, investors can find unique daily and weekly Bitcoin binary option contracts, based off the Tera Bitcoin Price Index.
Below is an example of how to trade Bitcoin using binary options.
A standard Bitcoin Binary Option may look something like: Bitcoin > 440 (3:00PM)
This means that this contact suggests the underlying price of Bitcoin will be above $440 at 3:00 p.m. If you think the answer is yes, buying the binary option might be the way to go. If you think the answer is no, you would sell the contract.
Investors should note that the price at which they would buy or sell the contracts is not the actual price of Bitcoin, but rather a value between zero and 100.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
Image Credit:
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Natural Gas At 10-Year Low: One Way To Play Further Downside: • Gas is trading at its lowest level since 1999, driven by worries about weak demand.
• At the New York Mercantile Exchange, the January Nymex price stood around $1.804 per million British thermal units (MMBtu) on Wednesday afternoon.
• Is there further downside left? If so, how can traders play it?
Bull spreads might offer an interesting option.
What Are Bull Spreads?
Spreads "offer built-in floor and ceiling levels that define the lowest and highest points at which the trade can settle," Nadex . In other words, traders know how much they can gain or lose from the outset, thus limiting the risk.
Related Link:Trade Options? Here's How To Get Involved In Bitcoin
How To Trade Natural Gas With Bull Spreads
In the following example, the underlying natural gas futures market is trading around 1.9 and a trader decides to consider a daily Bull Spread.
This trader believes the price of natural gas will fall in the short-term, so he chooses a Daily Bull Spread that looks something like:Natural Gas 1.000-2.000 (2:30PM).
Since this trader believes the natural gas future will be below 1.9 at 2:30 p.m., he chooses to Sell the contact. Thus, he selects two contracts at the bid price of 1.9. "Each pip the price moves is worth $1 per point," Nadex explains. His Maximum Profit and Loss are displayed automatically. His trade's "floor" is 1.000 and his "ceiling" is 2.000.
He will then monitor the trade and, when his position expires at 2:30 p.m., the difference between Nadex's calculated expiration value and his opening price of 1.9 will determine his profit or loss.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
See more from Benzinga
• Think Energy Has More Downside? Here Are Two Ways To Play It
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || What's In Store For Bitcoin In 2016?: This year was a difficult one for cryptocurrencies as they struggled with volatile prices and negative press.
Many view currencies like bitcoin as tools for criminals and investors tended to shy away from the currency as volatile price swings made it difficult to make accurate predictions. However, many believe that 2016 could be a monumental year for bitcoin as and the underlying technology that the coin runs on gains notoriety.
Supply Cut
Unlike traditional currencies, the number of bitcoins available to the public is controlled by mining computers. The computers essentially solve mathematical puzzles in order to release new bitcoins. The system was also designed to keep the number of bitcoins finite at 21 million coins, a figure to be reached in the next 125 years.
Not only that, but the reward for mining bitcoins would be cut in half every four years, and July 2016 marks the next time that cut is set to take place.
Related Link:Ben Bernanke Sees Serious Problems With Bitcoin
Price Increase
Many believe that halving the number of bitcoins received from each mining transaction will give the cryptocurrency's price a boost. While it has been well known for years that bitcoin supply would be reduced, the fact that the bitcoin market is still so new has kept traders from fully pricing the event in.
Blockchain Investments
Bitcoin could also see a boost in the coming year as blockchain gains popularity across several industries. The ledger-like system that bitcoin runs on has been touted as one of the most important technological advances of the decade, and many see it revolutionizing the way several industries do business.
Blockchain has been suggested as a way to improve the real estate market, make the music industry more transparent and improve the speed and efficiency of financial transactions.
See more from Benzinga
• FedEx Gets The Blame For Holiday Delays
• How Blockchain Can Reform The Real Estate Industry
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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.
ALSO READ:Is Best Buy Making an Offer That Consumers Can't Refuse?
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.
ALSO READ:Jefferies Has 4 Blue Chip High-Dividend Franchise Picks to Buy Now
According to the SEC’s complaint:
• From August 2014 to December 2014, Garza and his companies sold $20 million worth of purported shares in a digital mining contract they called a Hashlet.
• More than 10,000 investors purchased Hashlets, which were touted as always profitable and never obsolete.
• Although Hashlets were depicted in GAW Miners’ marketing materials as a physical product or piece of mining hardware, the promised contract purportedly entitled the investor to control a share of computing power that GAW Miners claimed to own and operate.
• Investors were misled to believe they would share in returns earned by the Bitcoin mining activities when in reality GAW Miners directed little or no computing power toward any mining activity.
• Because Garza and his companies sold far more computing power than they owned, they owed investors a daily return that was larger than any actual return they were making on their limited mining operations.
• Therefore, investors were simply paid back gradually over time under the mantra of “returns” out of funds that Garza and his companies collected from other investors.
• Most Hashlet investors never recovered the full amount of their investments, and few made a profit.
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[Random Sample of Social Media Buzz (last 60 days)]
Current price: 453.39$ $BTCUSD $btc #bitcoin 2016-01-08 18:00:09 EST || #Triangles #TRI $ 0.283901 (44.92 %) 0.00061782 BTC (40.00 %) via #TrianglesTRI
#Bitcoin #BTC #AltCoin #BlockChain …pic.twitter.com/e0Wv09Acu7 || 1 #bitcoin = $7070.00 MXN | $414.14 USD #BitAPeso 1 USD = 17.07MXN http://www.bitapeso.com || $323.00 at 13:45 UTC [24h Range: $310.00 - $330.07 Volume: 22313 BTC] via #btcusdpic.twitter.com/MPRU9Jitbn || $436.09 at 21:45 UTC [24h Range: $425.52 - $450.00 Volume: 18605 BTC] via #btcusdpic.twitter.com/dShq8O7Quo || Current price: 393.66$ $BTCUSD $btc #bitcoin 2015-12-08 02:00:03 EST || $437.04 at 18:00 UTC [24h Range: $436.00 - $462.20 Volume: 12101 BTC] || One Bitcoin now worth $453.00@bitstamp. High $465.00. Low $436.89. Market Cap $6.781 Billion #bitcoin || Current price: 350.19€ $BTCEUR $btc #bitcoin 2015-11-30 01:00:05 CET || LIVE: Profit = $101.63 (0.27 %). BUY B103.00 @ $370.54 (#BTCe). SELL @ $372.84 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org
|
Trend: up || Prices: 364.33, 387.54, 382.30, 387.17, 380.15, 420.23, 410.26, 382.49, 387.49, 402.97
|
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 2016-12-13]
BTC Price: 780.56, BTC RSI: 65.52
Gold Price: 1156.70, Gold RSI: 28.22
Oil Price: 52.98, Oil RSI: 64.86
[Random Sample of News (last 60 days)]
Here's how traders are positioned ahead of Election Day: The "Fast Money" traders shared their strategies before Americans pick eitherDonald TrumporHillary Clintonas the next president.
Trader Steve Grasso cautioned investors to wait for closure from the election before shuffling their portfolios. He said he would mostly hold cash going into the election.
Trader Brian Kelly said he is holding gold going into the election. For one, it works as a tail-risk hedge in the situation where Trump wins, but Kelly explained that both major party candidates will push up inflation expectations.
For investors looking to stay long in the financial sector, trader Guy Adami said to look at U.S. Bancorp as it's "the most conservative bank out there."
Disclosures:
GUY ADAMI
Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck.
BRIAN KELLY
Brian Kelly is long Bitcoin, SLV and silver futures, US Dollar UUP. He is short the Japanese yen and the euro.
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 shorts. Grasso's firm is long: APC, 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.
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: EEM, 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.
More From CNBC
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• Latest News Video
• Personal Finance || Here's what a Trump presidency means for the payments industry: Remittances (BII) This story was delivered to BI Intelligence " Payments Briefing " subscribers. To learn more and subscribe, please click here . After Donald Trump unexpectedly clinched the US presidency early Wednesday , the uncertainty rippling through the world could extend to the payments industry in a few key ways. A Trump presidency could limit one of US remittance firms’ largest drivers of business. Trump at one point threatened to cut off remittance send from the US to Mexico. Back in April, the Washington Post received a memo regarding Trump’s plans to fund his proposed 1,000-mile border wall between the US and Mexico. In the memo, Trump noted that he planned to force Mexico to pay for the wall by invoking the US Patriot Act to cut off portions of the flow of money between the US and Mexico until Mexico made a one-time $5 billion-$10 billion payment. That monetary flow would likely include remittances. That could drastically curtail the operations of US remittance firms. Mexico is the largest receive destination for US remittances, cashing $25 billion in 2015, according to the World Bank . The strength of that corridor is pushing firms to double down on Mexico — for instance, Western Union recently nearly doubled the size of its retail network in the country, and MoneyGram unveiled a product in partnership with Walmart to make it easier and less expensive to send money from the US to Mexico. Cutting off access to the corridor, even temporarily, could drastically change the trajectory for these companies. Trump's victory could also impact two key categories of transaction volume. Domestic spend: The election's results will likely bring about economic uncertainty to US markets, which could affect how businesses and consumers spend. An increase in economic uncertainty is often accompanied by a decrease in consumer confidence. This, in turn, may lead to businesses and citizens mitigating any risk of a potential economic downturn by implementing safeguards such as hiring freezes or holding more in savings rather than spending. A reduction in spending would likely have a negative impact on sales for all the major players in the payments ecosystem, including but not limited to credit card companies, payment gateways , retailers, and even banks. Cross-border spend: Throughout his candidacy, Trump emphasized bringing manufacturing back to America, specifically taking aim at firms like Apple to build its products in the US rather than China. If Donald Trump pushes isolationist trade policies and issues tougher manufacturing restrictions, there could be a huge shift in how both consumers and businesses make international transactions. There would likely be a major decrease in international spending as more consumers are either unable to make transactions due to restrictions or unwilling to pay any extra fees. Story continues Regardless of how Trump's presidency unfolds, the payments ecosystem will continue to grow and change. Evan Bakker and John Heggestuen, senior analysts at BI Intelligence , 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 You won’t recognize the new world of digital payments without this report THE CONNECTED DEVICE PAYMENTS REPORT: Market opportunities, top stakeholders, and new use cases for the next frontier in payments Future of Payments: Four Trends to Know in Payment Processing || John Reid Confirmed as CEO of Cable and Wireless: MIAMI, FL--(Marketwired - Nov 21, 2016) - John Reid has been confirmed as Chief Executive Officer ofC&W Communications("C&W", or the "Company") effective November 7, 2016. C&W serves 18 countries and is one of the largest full service telecommunications and entertainment providers in the Caribbean and Latin America. The Company was recently acquired byLiberty Globalplc "Liberty Global", the world's largest international TV and broadband company.
"This is a time of meaningful change and development for C&W, and I am excited for the expertise and continuity that John brings to this growing region," said Mike Fries, CEO of Liberty Global. Reid is tasked with aligning the former UK-based company with Liberty's Latin America and Caribbean ("LiLAC Group") division, while strengthening the Company's growth opportunities, in particular triple-play, mobile data and fixed-mobile convergence, and seizing on the significant business-to-business and wholesale opportunities in the region.
"I am honored to lead C&W Communications into the next phase of our development. I look forward to achieving our growth objectives, creating greater value for our stakeholders, and transforming our employee and customer experience," Reid said.
Reid, a Canadian national, is uniquely positioned to take C&W to its next chapter as he has over 28 years of telecommunications and cable television experience, and has spearheaded complex integrations and pioneered a culture of transformation and engagement, first in Canada, and during the past 11 years, across the Caribbean. Prior to his role as Interim CEO of C&W, Reid served as C&W's President, Consumer Division and was part of the executive leadership team at C&W that achieved in excess of $100m in synergies in less than 18 months following the Columbus transaction.
At Columbus, where he was President and Chief Operating Officer, he led the Company to become a leader and innovator in the broadband and entertainment industry across the Caribbean and Latin America. Prior to Columbus John held various roles with Canadian MSO Persona, holding the position of Executive Vice President & Chief Operating Officer.
John holds a B.A. and an M.B.A. from Memorial University of Newfoundland, serves as the Chairman of Bahamas Telecommunications Company (BTC), a 49% subsidiary of C&W, and is a member of the Advisory Board of Caribbean Tales.
About C&W CommunicationsC&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 atwww.cwc.com, or follow C&W onLinkedIn,FacebookorTwitter.
About Liberty GlobalLiberty 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. Liberty Global invests in the infrastructure that empowers its customers to make the most of the digital revolution. Liberty Global's scale and commitment to innovation enables it to develop market-leading products delivered through next-generation networks that connect its 29 million customers who subscribe to 60 million television, broadband internet and telephony services. Liberty Global also serves over 10 million mobile subscribers and offers 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 its European operations, and the LiLAC Group (NASDAQ:LILA) (NASDAQ:LILAK) (OTC PINK:LILAB), which consists of its 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 visitwww.libertyglobal.com.
Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3082861 || PayPal is homing in on high-growth areas: (BII)This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, pleaseclick here.
PayPal postedstrong resultsacross segments in Q3 2016, allowing the firm to increase its growth targets for the year without changing its margins — a good sign for the rest of the year.
PayPal posted strong growth in two key metrics. The firm’s total payment volume (TPV) rose 28% year-over-year (YoY) to $87 billion in Q3 2016. That was likely driven partly by an increase in customers, which grew by 19 million YoY to 192 million during the quarter.
But even as PayPal adds customers, those clients are getting more engaged — average interactions per customer rose to 30, from 27 in the previous year, during Q3. Increased engagement likely means that PayPal’s focus on high-growth areas, like mobile payments and P2P functionality, is helping to drive customers to the service.
Continuing to find ways to grow engagement will likely shape PayPal’s development moving forward. The company is pushing hard into other high-growth areas in order to better become “an everyday essential financial service” for people worldwide. Two such initiatives highlighted in the call stood out:
• Aggressive pursuit of Chinese and cross-border e-commerce:PayPal is expanding its partnership with Chinese e-commerce giant Alibaba so that Paypal will become a single-click buy button option on AliExpress, one of Alibaba’s largest marketplaces. PayPal customers are already interested in Chinese e-commerce —40 millionof the firm’s customers have made a purchase to China — so this could help them better channel that interest into purchasing. But it also could allow the firm to get a share of China’s fast-growing e-commerce market, and, if successful, could pave the way for more cross-border partnerships in the future.
• Mobile in-store payments:The firm’s recent partnerships with Visa and Mastercard will allow PayPal’s wallet to be accepted in-store anywhere that accepts contactless payments from those cards. And in Europe, PayPal is partnered with Vodafone in markets like the UK, Italy, and Spain, to begin allowing users to pay via NFC. Physical stores present PayPal with a massive volume opportunity, and could help it better monetize some of its mobile and digital platforms through merchant processing fees, for example. These partnerships could also help keep customers loyal to PayPal for a wider variety of financial interactions rather than pushing them to a third-party, which could increase engagement.
PayPal is an important piece of the larger payments ecosystem, but it's still just one piece. The rest of it included merchants, processors, acquirers, gateways, and more.
Evan Bakker and John Heggestuen, analysts atBI Intelligence, Business Insider's premium research service, have 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 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 || Here's how traders are positioned ahead of Election Day: The " Fast Money " traders shared their strategies before Americans pick either Donald Trump or Hillary Clinton as the next president. Trader Steve Grasso cautioned investors to wait for closure from the election before shuffling their portfolios. He said he would mostly hold cash going into the election. Trader Brian Kelly said he is holding gold going into the election. For one, it works as a tail-risk hedge in the situation where Trump wins, but Kelly explained that both major party candidates will push up inflation expectations. For investors looking to stay long in the financial sector, trader Guy Adami said to look at U.S. Bancorp as it's "the most conservative bank out there." Disclosures: GUY ADAMI Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck. BRIAN KELLY Brian Kelly is long Bitcoin, SLV and silver futures, US Dollar UUP. He is short the Japanese yen and the euro. 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 shorts. Grasso's firm is long: APC, 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. 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: EEM, 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. More From CNBC Top News and Analysis Latest News Video Personal Finance || 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) || 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) || Winklevoss brothers name State Street as bitcoin ETF administrator: 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 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 19,00 bitcoin on average per business day, which represents more than 16 percent of all U.S.-based bitcoin exchange volume during the 4 p.m. period, Gemini said on Tuesday. 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. (Reporting by Gertrude Chavez-Dreyfuss) || 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. Story continues 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) || 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)
[Random Sample of Social Media Buzz (last 60 days)]
こんばんは。今夜も各Blog定時更新でまいります。今夜は22:00からBTC-R(http://blog.goo.ne.jp/t-photo )、4200k(http://ameblo.jp/4200k/ )の順でお届けです。ボジョレー飲んで告知を忘れるところでした（乾杯っ！ || 1 #bitcoin = $13999.00 MXN | $738.73 USD #BitAPeso 1 USD = 18.95MXN http://www.bitapeso.com || Boolberry-BBR|Strength Index 8.8%|BTC:0.00019224|Cap 995872.0|1h 1.64%|24h 9.23%|7d 33.34% || #EuroCoin #EUC $0.000236 (0.09%) 0.00000032 BTC (-0.00%) || Rome, Bari, Milan House 3 Top Bitcoin-Related Projects in Italy - CoinTelegraph: The "old country" Italy is a... http://bit.ly/2eeYysp || #bitcoin #miner 2 x Bitmain Antminer S3's + Corsair 750M PSU $200.00 http://ift.tt/2gV0S6y pic.twitter.com/rde0AXzuV6 || $765.32 #bitfinex;
$758.25 #bitstamp;
$764.36 #GDAX;
$762.33 #btce;
$764.00 #itBit;
$764.52 #gemini;
#bitcoin news: http://bit.ly/1VI6Yse || #Triangles #TRI $0.211939 (1.78%) 0.00030000 BTC (0.00%) || 1 #BTC (#Bitcoin) quotes:
$728.99/$729.00 #Bitstamp
$731.53/$732.99 #BTCe
⇢$2.53/$4.00
$729.83/$737.27 #Coinbase
⇢$0.83/$8.28 || 1 KOBO = 0.00000000 BTC
= 0.0013 USD
= 0.4095 NGN
= 0.0176 ZAR
= 0.1325 KES
#Kobocoin 2016-12-08 10:00 pic.twitter.com/KRbkYPz2DC
|
Trend: up || Prices: 781.48, 778.09, 784.91, 790.83, 790.53, 792.71, 800.88, 834.28, 864.54, 921.98
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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 2021-04-28]
BTC Price: 54824.70, BTC RSI: 47.54
Gold Price: 1773.20, Gold RSI: 55.37
Oil Price: 63.86, Oil RSI: 58.87
[Random Sample of News (last 60 days)]
GLOBAL MARKETS-Stocks edge down as investors hit pause, watch bond yields: (Updates to close of U.S. trading, adds details) By Suzanne Barlyn NEW YORK, March 2 (Reuters) - Global equity markets were little changed on Tuesday as Wall Street retreated and investors took stock of gains from Monday's surge, pausing to gauge whether a bond yield jump had run its course. The declining performance of the three major Wall Street indices followed a flat close in Europe and slipping shares in Asia. "It was such a strong opening to the month yesterday that investors could be short-term focused and saying, 'Let's take some of the profits that we saw yesterday,'" said Sam Stovall, chief investment strategist at CFRA Research in New York. March began with a bang on Monday as global equities markets rose, the S&P 500 had its best day since June 5 and bond markets calmed after a month-long selloff. Wall Street ended lower on Tuesday, pulled down by Apple Inc and Tesla, while materials stocks climbed as investors waited for the U.S. Congress to approve another stimulus package. The Dow Jones Industrial Average fell 143.99 points, or 0.46%, to 31,391.52, the S&P 500 lost 31.53 points, or 0.81%, to 3,870.29 and the Nasdaq Composite dropped 230.04 points, or 1.69%, to 13,358.79. The pan-European STOXX 600 index rose 0.19% while MSCI's gauge of stocks across the globe shed 0.51%. Emerging market stocks lost 0.21%. MSCI's broadest index of Asia-Pacific shares outside Japan closed 0.35% lower, while Japan's Nikkei lost 0.86%. The European Central Bank should expand bond purchases or even increase the quota earmarked for them if needed to keep yields down, ECB board member Fabio Panetta said on Tuesday, after weeks of steady increases in borrowing costs. Australia's central bank on Tuesday affirmed its pledge to keep interest rates at historic lows as policymakers battle to stop surging bond yields from disrupting the country's surprisingly strong economic recovery. After a sharp selloff last week, U.S. Treasuries have stabilized with bond market indicators and derivatives positioning pointing to near-term calm. But an improving economy could trigger another slide in their prices. U.S. Federal Reserve Governor Lael Brainard said she was closely watching bond markets and would be concerned if a recent rise in yields continued and began to constrain economic activity. "Some of those moves last week and the speed of the moves caught my eye," Brainard said on Tuesday. Yields on the benchmark 10-year Treasury bond have stabilized after hitting a one-year high of 1.614% last week. Benchmark 10-year notes last rose 11/32 in price to yield 1.4085%, from 1.446% late on Monday. Story continues Gold prices rose, inching up from a more than eight-month low, as a retreat in the dollar and U.S. Treasury yields lifted demand for the safe-haven metal. Spot gold added 0.7% to $1,735.41 an ounce. U.S. gold futures settled up 0.6% at $1,733.60. The dollar index fell 0.263%, with the euro up 0.33% to $1.2087. Earlier, the dollar was up for a fourth consecutive day after the spike in bond yields challenged the market consensus for dollar weakness in 2021. But riskier currencies rose as bond markets calmed and stocks recovered. Bitcoin fell 2.55% to $47,640.44 after rising nearly 7% on Monday. Shares in mainland China and Hong Kong fell overnight after a top regulatory official expressed concerns about the risk of bubbles bursting in foreign markets. Oil prices largely shrugged off expectations that OPEC would agree to raise oil supplies at a meeting this week. "The recovery is looking really good to us," Occidental Petroleum Chief Executive Vicki Hollub said. "If you look at what's happening in India as well as the U.S., I think the oil industry is looking like things will be pretty good for us over next couple of years." U.S. crude futures settled down 89 cents at $59.75 a barrel, while Brent futures fell 99 cents to settle at $62.70 a barrel. (Reporting by Suzanne Barlyn; Editing by Dan Grebler) View comments || Amazon employees are not treated like robots, says Jeff Bezos in final CEO letter: • The mysterious case of the $571m Manchester 'Bitcoin scam'
• Amazon wants to take people on virtual 'scratch and sniff' shopping trips, patent reveals
• Ireland opens GDPR probe into Facebook data breach that exposed 533m phone numbers
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Amazon's chief executive Jeff Bezos has denied that the company treats its warehouse workers like "robots" in his final letter to shareholders.
The 57-year-old founder, who will step down to become executive chairman after June, said its staff are not subject to "unreasonable performance goals" and get proper breaks to rest and use the toilet.
However, he said that he takes no comfort inAmazon's recent victory over union organisers at its warehouse in Alabama, and that the shopping giant must give workers a better deal.
An attempt by the US Retail, Wholesale and Department Store Union (RWDSU) to create the first unionised Amazon facility in the US was defeated by 1,798 ballots to 738, despite the backing of President Joe Biden and other Democratic politicians.
It comes after Amazon wasforced to apologise for falsely claiming that its drivers are never forced to urinate in bottles, as well as many years of reports alleging onerous and dehumanising conditions in its warehouses.
Mr Bezos said: "If you read some of the news reports, you might think we have no care for employees. In those reports, our employees are sometimes accused of being desperate souls and treated as robots.
"That’s not accurate. They’re sophisticated and thoughtful people who have options for where to work. When we survey fulfilment centre employees, 94pc say they would recommend Amazon to a friend as a place to work...
"Does your Chair take comfort in the outcome of the recent union vote in Bessemer? No, he doesn’t... it’s clear to me that we need a better vision for how we create value for employees – a vision for their success."
Mr Bezos's annual letters have become something like scripture to his admirers, coming out every year since Amazon went public in 1997 and always concluding that it is still "day one" for the company.
In this one, he argued that employees are given informal breaks and "achievable" performance targets, and promised to devote himself as chairman to finding new methods of reducing injuries on the job.
Amazon has responded to negative reports about its workforce with pay rises and PR offensive, lobbying in the US for a federal minimum wage of $15 (£10.88) andsending out employee "ambassadors" to argue with critics on social media.
That's all from us today; we hope you have a very good evening, and we'll see you back here tomorrow from 7am.
Applehas launched new fitness workouts targeting the pregnant and the elderly in an attempt to get an edge over rivals such asPeloton.
The programs will appear on its Fitness+ service, an app that includes workouts with personal trainers and gym classes, including treadmill sessions and exercise bike sessions. It is just the latest push into health by the US technology giant, which has added various fitness functions to its Apple Watch smartwatches, such as a heart rate monitor and an electrocardiogram scanner.
“With more options for getting started, and staying active and healthy during pregnancy as well as at any age or fitness level, we hope even more people will be inspired to keep moving with our amazing team of passionate trainers,” said Jay Blahnik, Apple’s senior director of fitness technologies.
The “Workouts for Pregnancy” consists of 10 workouts taking 10 minutes across Apple’s strength, core, and mindful cooldown categories.
Meanwhile, “Workouts for Older Adults" is a series of eight workouts meant for elderly users designed to be used with light dumbbells or body weight. Apple has also added new low-impact yoga, HIIT and strength classes for those who are just beginning a fitness routine.
The new workouts should appear on Apple Fitness + on April 19th.
Walmarthas joined the rush of mega-corporations investing in autonomous vehicles (AVs), taking an undisclosed stake in General Motors' self-driving tech firm Cruise.
The American supermarket giant's investment brings the value of Cruise up to $2.75bn (£2bn). Its upside, described by chief executive John Furner todayin a blog post, is delivery:
"The investment will aid our work toward developing a last mile delivery ecosystem that’s fast, low-cost and scalable... as delivery has become a staple in our customers’ lives, we’re focused on growing our last mile ecosystem in a way that’s beneficial for everyone – customers, business and planet."
It's all part of Walmart's attempt to build an "omnichannel" retail business that can stand up to Amazon,which has its own AV investments.
TheEuropean Unionis considering radical regulations on sensitive uses of artificial intelligence (AI) such as scanning CVs, assessing credit, determining benefits and judging criminals,according to a fascinating new document leaked to Politico.
The document, which originates from within the European Commission, outlines proposals to put special scrutiny on AI systems that manipulate behaviour, opinions or decisions, or exploit vulnerabilities, while banning social scoring systems completely.
However, it makes an exception for the use of AI stop serious crime, such as using facial recognition technology in CCTV cameras to track terrorists.
Amazon'schief executiveJeff Bezoshas denied that the company treats its warehouse workers like "robots" in his final letter to shareholders.
The 57-year-old founder, who will step down to become executive chairman after June, said its staff are not subject to "unreasonable performance goals" and get proper breaks to rest and use the toilet.
However, he said that he takes no comfort inAmazon's recent victory over union organisers at its warehouse in Alabama, and that the shopping giant must give workers a better deal.
It comes after Amazon wasforced to apologise for falsely claiming that its drivers are never forced to urinate in bottles, as well as many years of reports alleging onerous and dehumanising conditions in its warehouses.
Mr Bezos said: "If you read some of the news reports, you might think we have no care for employees. In those reports, our employees are sometimes accused of being desperate souls and treated as robots.
That’s not accurate. They’re sophisticated and thoughtful people who have options for where to work."
Nissan has taken yet another hit from the global chip shortage.
According to a report in Reuters, the automaker said it has been forced to cut production at several factories in Japan next month
“Due to the (global chip) shortage, Nissan is adjusting production and is taking necessary actions to ensure recovery,” a Nissan spokesman said, without elaborating.
Daimler, Ford, Fiat Chrysler, General Motors, Honda, Nissan, Renault, Toyota andVolkswagenhave all either shut down plants or slashed production after running short of microchips, which have become vital components in modern cars and control everything from engine management to braking and electric windows.
Analysts at IHS forecast that global production of light vehicles will fall by about 485,000 units over the coming three months - equal to about 0.5pc of total output in a normal year.
Problems started after carmakers slashed orders in the face of falling demand when Covid hit, only to be caught out by a stronger-than-expected bounce back in sales over summer.
By the time car firms realised they were running short, they had slipped down the queue as chipmakers focused instead on surging post-lockdown demand for phones, computers and video games. New Playstation and Xbox video game consoles also took priority
The Biden administration imposed a raft of new sanctions on Russia, including long-feared restrictions on buying new sovereign debt, in retaliation for alleged misconduct related to the SolarWinds hack and efforts to disrupt the US election.
The new measures sanction 32 entities and individuals, including government and intelligence officials, and six Russian companies that provide support to the Russian government’s hacking operations. The U.S. is also expelling 10 Russian diplomats working in Washington, including some intelligence officers.
The Biden administration also is barring U.S. financial institutions from participating in the primary market for new debt issued by the Russian central bank, Finance Ministry and sovereign wealth fund. Those limits would take effect from June 14.
Russian bonds fell and the ruble dropped the most since December on news of the impending penalties, although the ruble and Russian bonds recovered some of their losses after the sanctions were announced.
“What President Biden is going to announce today, we believe, are proportionate measures to defend American interests in response to harmful Russian actions, including cyber intrusions and election interference,” National Security Advisor Jake Sullivan told CNN early Thursday. “His goal is to provide a significant and credible response but not to escalate the situation.”
The sanctions reflect an attempt by the U.S. to balance the desire to punish the Kremlin for past misdeeds but also to limit the further worsening of the relationship, especially as tensions grow over a Russian military buildup near Ukraine.
Apple has launched a new environmental scheme to invest in forestry projects to remove carbon from the atmosphere.
The 200 million dollar (£145 million) Restore Fund will aim to remove at least a million metric tonnes of carbon dioxide annually from the Earth's atmosphere - equivalent to the fuel used by 200,000 passenger vehicles.
The technology giant is working with Conservation International and Goldman Sachs on the project, which it says aims to accelerate natural solutions to climate change while also scaling up investment in forest restoration.
Apple said the scheme will form part of its efforts to become carbon neutral across its entire business by 2030.
"Nature provides some of the best tools to remove carbon from the atmosphere. Forests, wetlands and grasslands draw carbon from the atmosphere and store it away permanently in their soils, roots and branches," said Lisa Jackson, Apple's vice president of environment, policy and social initiatives.
"Through creating a fund that generates both a financial return as well as real and measurable carbon impacts, we aim to drive broader change in the future, encouraging investment in carbon removal around the globe.
"Our hope is that others share our goals and contribute their resources to support and protect critical ecosystems."
The Google Earth app is adding a new video feature that draws upon nearly four decades of satellite imagery to vividly illustrate how climate change has affected glaciers, beaches, forests and other places around the world.
The tool unveiled Thursday is rolling out in what is being billed as the biggest update to Google Earth in five years. Google says it undertook the complex project in partnership with several government agencies, including Nasa in the U.S. and its European counterpart, in hopes that it will help a mass audience grasp the sometimes abstract concept of climate change in more tangible terms through its free Earth app.
This isn't the first time time-lapse satellite imagery has been used to demonstrate show how parts of the world are changing before our eyes due to a changing climate. Most scientists agree that climate change is being driven by pollution primarily produced by humans.
But earlier images have mostly focused on melting glaciers and haven't been widely available on an already popular app like Google Earth, which can be downloaded on most of the more than 3 billion smartphones now in use around the world
Google is promising that people will be able to see a time lapse presentation of just about anywhere they want to search. The feature also includes a storytelling mode highlighting 800 different places on the planet in both 2D and 3D formats. Those videos also will be available on Google's YouTube video site, a service more widely used than the Earth app.
Twitter has launched a study to find out the "unintentional harms" that are caused by its algorithms.
“We’re conducting in-depth analysis and studies to assess the existence of potential harms in the algorithms we use,” the company wrote in a blog post announcing the initiative.
The study will begin by looking at Twitter’s image cropping algorithm which was described as "racist" when users spotted that the feature was automatically focusing on white faces over black ones.
It comes as lawmakers across the world urge Big Tech to be more transparent about how their algorithms work, and the harm it might cause.
The guardians of thefinancial sectorare poised to greatly intensify their efforts to regulate the booming cryptocurrency sector.
That’s the view of the World Economic Forum’s blockchain expert, who said challenges include keeping up with the borderless nature of Bitcoin and other digital tokens, as well as ensuring that innovation isn’t stifled.
“We’re going to see another round of pretty dramatic attempts at regulating this space,” Sheila Warren, head of data, blockchain and digital assets with the World Economic Forum, said in an online Bloomberg seminar Thursday. “As there’s more and more activity in these spaces there’s more and more demand signal for regulators to get engaged and involved.”
Digital tokens are garnering ever more attention, epitomised by cryptocurrency exchange Coinbase Global Inc.’s hefty public debut on the Nasdaq, as well as Bitcoin’s nine-fold rally in the past year. Crypto firms are beefing up their top ranks to shape the emerging regulatory environment and tackle lingering skcepticism about digital tokens.
Governments are inspecting risks around the sector more closely as the investor base widens. Bitcoin’s most ardent proponents see it as a modern-day store of value and inflation hedge, while others fear a speculative bubble is building.
Child safety campaigners across the world have urged Facebook chief executive Mark Zuckerberg to abandon the company's plan to build a children's version of Instagram.
In a letter sent to Mr Zuckerberg today, at least 35 research and campaign groups, including three from the UK, warn that the proposed app would put children at increased risk of mental illness, bullying, sexual abuse and predatory advertising.
It argued that Instagram has failed to protect its existing users, including “millions of younger children” who have already dodged the social network's minimum age requirements to make their accounts.
The letter was written by the US-based Campaign for a Commercial-Free Childhood (CCFC) and signed by 5Rights, the children's charity founded by Baroness Kidron, as well as organisers of last year's Facebook advertising boycott and the makers of the Netflix documentaryThe Social Dilemma. Read morehere.
Coinbase shares rose premarket on the second day of its highly anticipated debut, following news that three funds at Cathie Wood’s Ark Investment Management bought the stock.
The stock traded at $362 at 6:14 a.m. in New York, up about 11pc from the last close, but still lower than Wednesday’s opening price.
After debuting at $381 in its direct listing on Nasdaq Wednesday,Coinbaseclimbed as high as $429.54 - sending the exchange’s valuation soaring above $112 billion - before quickly slipping back as Bitcoin fell from record highs.
Despite being unable to sustain its initial strength, positive sentiment toward the stock is starting to build. Three of Wood’s funds bought a combined 749,205 shares worth about $246 million, while BTIG analyst Mark Palmer initiated coverage with a buy rating, setting a price target of $500.
“If cryptocurrency’s total market capitalisation continues to grow, rising from about $2.1 trillion to a significant multiple of that figure, then the company’s upside could be immense,” Palmer wrote in a note.
The US's commodities watchdog is on the hunt for a Manchester man it claims is the mastermind behind a Bitcoin scam that swindled thousands of victims and owes $572m (£416m).
The regulator is facing a major obstacle, however, as their suspect, Benjamin Reynolds, 38, appears to have vanished without a trace. Questions have now emerged over whether he ever existed.
The investigation comes as cryptocurrencies continue their surge into the mainstream.Coinbase, the cryptocurrency exchange, was valued at $100bn in its stock market debut on Wednesday. The price of Bitcoin hita record of $64,500 this weekas corporate interest continued to pump up the price.
Yet cryptocurrency scams and frauds remain common, and frequently difficult for investigators to crack. The mystery of Benjamin Reynolds is a case in point.Read Margi Murphy'sin-depth report here
Billionaire SirRichard Bransonhas sold about $150m in shares of his space tourism company Virgin Galactic, cutting his stake by about 3pc.
Sir Richard, 70, remains the company’s largest holder with a stake of about 24pc through an investment vehicle, according to data compiled by Bloomberg.
This is his first sale since the middle of 2020, when he offloaded more than $400 million-worth to raise funds for his ailing travel business.
Virgin Galactic has been a long-term passion project for Sir Richard, who first proposed sending tourists into space in the 1990s but has faced multiple setbacks, including the death of a pilot on a test flight in 2014.
The stock has fallen from a February closing peak of $59.41. Delays of a test flight and Branson’s own trip to space have sapped investor enthusiasm. Another large holder, Chairman Chamath Palihapitiya, sold $213 million in stock last month.
“Virgin intends to use the net proceeds from this sale to support its portfolio of global leisure, holiday and travel businesses that continue to be affected by the unprecedented impact of Covid-19, in addition to supporting the development and growth of new and existing businesses," a Virgin Group spokesperson said. "The Virgin Group continues to be the largest shareholder in Virgin Galactic.”
SoftBank Vision Fund 2 is reportedly in "advanced stages of talks" to invest $500m in Indian food delivery start-up Swiggy.
According to report inTechCrunch, the deal will value the company at $5.5bn.
It comes as the food delivery race in India heats up. Swiggy and Zomato are currently the leaders, with Amazon trailing behind.
Arecent survey conducted by Market research company YouGov found three in five urban Indiansprefer ordering food through apps such as Zomato and Swiggy.Around 35pc choose to place their order through a restaurant's mobile app or online through its website.
Facebook's'Supreme Court' is expected to decide in the next few days whether former President Donald Trump will be allowed back on the platform.
Trump was suspended from Facebook and Instagram on January 6 after he posted content that Facebook claimed encouraged a violent mob to storm Capitol Hill. The decision to freeze his accounts stoked accusations that Facebook suppresses right-wing views.
The Oversight Board, an independent group of lawyers, academics and journalists, will soon make a binding decision, marking the most significant test since the panel’s formation last year.
“For a company like Facebook it is putting them back at the center, the epicenter of a lot of these debates around where the line is around legal but harmful content,” said Katie Harbath, a former public policy director at Facebook who left the company in March.
“There is both what’s at stake for Facebook, but then also what’s at stake I think more broadly in terms of the debate and the questions around how world leaders should be held accountable for the things that they say and push on the internet.”
Tencent and Alibaba’s supermarket arm joined their fellow Chinese tech giants in vowing to eradicate monopolistic practices, as the country’s largest corporations rush to publiclyalign themselves with Beijing.
The WeChat operator, Alibaba’s Freshippo and ride-hailing giant Didi Chuxing were among 11 Chinese tech giants that issued pledges Thursday to obey antitrust laws, two days after Beijing gave companies a month to conduct internal reviews and comply with government guidelines.
Twenty-three companies have now issued vaguely worded statements promising everything from consumer rights protection to loosening controls over their platform, stopping short of outlining specific actions.
China’s government, worried about the growing influence of internet giants like Jack Ma’s Alibaba has in the span of a few months brought its giant technology sector to heel.
Beijing regulators torpedoed Ant’s $35bn initial public offering one month after Ma infamously attacked officials for being behind the times, launched an anti-monopoly probe into Alibaba in December, then finalised by March new rules intended to curb monopolistic practices across its entire internet landscape.
In landmark announcements over the past week, it slapped a record $2.8bn fine on Alibaba for abusing its market dominance, then ordered an overhaul of Ant Grouop.
On Tuesday, regulators summoned 34 of the country’s largest companies from Tencent to TikTok owner ByteDance, warning them “the red line of laws cannot be touched.”
Apple supplier, Taiwan Semiconductor Manufacturing Co (TSMC), reported a 19.4pc rise in first-quarter profit following strong global chip demand for the world's top contract chipmaker.
TSMC had already flagged "multiple years of growth opportunities" as the Covid-19 pandemic fuelled demand for advanced chips to power devices such as smartphones and laptops.
However, the Taiwanese company's business was further boosted by a global shortage of semiconductor chips that initially forced automakers to cut production, but is now also hurting manufacturers of smartphones, laptops and even appliances.
TSMC's net profit for January-March hit T$139.7 billion ($4.93 billion), versus the T$134.01 billion average of 22 analyst estimates compiled by Refinitiv.
Revenue rose 25.4pc to a record $12.92 billion, in line with the company's earlier estimated range of $12.7 billion to $13 billion.
TSMC said this month it plans to invest $100 billion over the next three years to increase capacity at its plants, days after Intel announced a $20 billion plan to expand its advanced chip making capacity.
Billionaire Bitcoin bull Mike Novogratz believes the crypto market is in line for a "washout," after Coinbase's market debut lifted the prices of digital coins.
“In the next week, certainly we could have some volatility because of the excitement around Coinbase,” the former Goldman Sachs GS, +2.34pc partner said during the second week of an Investing in Crypto virtual event series hosted by MarketWatch and Barron’s on Wednesday.
“I’ve seen a lot of weird coins like dogecoin and even XRP have huge retail spikes, which means there’s a lot of frenzy right now,” Novogratz said. “That never ends well, and so we’ll probably have a washout at one point.”
Cryptocurrency exchangeCoinbaseclosed down 14pc at $328.28, valuing the company at $84bn, following its blockbuster market debut yesterday.
Theexchange initially soared above a $112bnvaluation, then slipped back below its opening price as Bitcoin fell from record highs and tech stocks fell across the board.
The massive valuation, which dwarfs more traditional financial companies including Intercontinental Exchange Group and Nasdaq itself, is a landmark moment for the crypto industry and for Coinbase.
The company was started almost a decade ago when few people had even heard of Bitcoin, and many exchanges were run by amateurs from their garages and homes.
The debut isn’t just a mark of success for Coinbase, which was valued at just $8bn in its most recent funding round in 2018. It’s also a win for Nasdaq, which hosted its first direct listing after beating out the New York Stock Exchange for Coinbase’s debut.
Coinbase is the biggest company to take the direct listing route to market.
Apple has launched a study to discover whether its Apple Watch can be used to detect coronavirus symptoms.
Alongside the University of Washington and the Seattle Flu Study for the project, the iPhone-maker is attempting to find out how early it can detect respiratory illnesses such as Covid-19 or flu, according to a report inMacrumours.
Apple first announced the initiative at its Time Flies event last year.
It isn’t the only one testing to see if wearable could be used as symptom trackers.
Smart ring maker Oura, for instance, l;ast year teamed up with the University of California, San Francisco Medical Center to test its ring on 2,000 emergency workers. The hope is that it will act as an early warning system for those who become infected.
Read more about thathere.
Jeff Bezos'Blue Origincompany strapped two employees into a rocketship for practice, but pulled them out shortly before sending the capsule to the edge of space Wednesday with only a test dummy.
The crew rehearsal in West Texas brings Blue Origin closer to launching tourists and others into space.
Blue Origin wanted to see how well a crew could get in and out of the capsule. The pretend astronauts also tested seatbelts and radio links before the 10 1/2-minute flight, and went back to the capsule following touchdown to climb aboard for recovery practice.
"While there are no astronauts on board today, that was a critical step toward our march toward first human flight," flight commentator Ariane Cornell said from company headquarters in Kent, Washington. The company is "very close" to flying passengers, she noted.
Blue Origin's goal is to take paying customers on short hops providing three minutes of weightlessness. Windows make up one-third of the six-seat capsule.
It was the 15th flight of a New Shepard rocket, named after the first American in space, Alan Shepard. The capsule reached an altitude of 66 miles (106 kilometers), just above the official border of space.
The reusable booster landed upright seven minutes after liftoff. The capsule touched down under parachutes about three minutes later.
Before the flight, four mock astronauts made the two-mile drive to the launch pad and climbed up the tower. But only two - a company lawyer and a senior program director - crawled into the capsule.
Besides the spacesuited Mannequin Skywalker, the capsule carried more than 25,000 postcards from youngsters as part of the company's Club for the Future. This is likely the test dummy's last spaceflight; it's being donated to the U.S. Space and Rocket Center in Huntsville, Alabama.
The mysterious case of the $571m Manchester 'Bitcoin scam': US regulators are hunting for a Brit they claim is the mastermind behind a cryptocurrency fraud, but he may not even exist
Amazon wants to take people on virtual 'scratch and sniff' shopping trips, patent reveals:The technology could help disabled or hospitalised people shop for groceries from home
Ireland opens GDPR probe into Facebook data breach that exposed 533m phone numbers:The Irish Data Protection Commission said Facebook may have broken European data law in handling the leak, which included 11.5m UK accounts
Just Eat aims to take big bite out of Deliveroo's market share:Food delivery firm's UK growth almost doubles in first three months of the year, with boss Jitse Groen expecting to widen gap with rivals
Mike Lynch fraud case casts a shadow over £3bn Darktrace float plan:Cybersecurity company admits criminal and civil charges against its founding shareholder "could result in a material adverse effect" || 3 Tech Stocks to Buy Now on Bullish Second Quarter Start: On today’s episode of Full Court Finance at Zacks we dive into the market’s hot start to the second quarter of 2021. The episode then explores three highly-ranked tech stocks that investors might want to buy as the S&P 500 and the Dow hit new records and the Nasdaq climbs.
The market closed an eventful first quarter on a high note and continued that momentum into the first two trading days of April. The S&P 500 and the Dow are both on track to close at new highs on Monday, while the Nasdaq popped over 1.5% through late afternoon trading to come within 3.5% of its mid-February records.
The movement has highlighted a rotation into cyclical sectors such as finance, energy, and other economic rebound plays. And the bulls have bought up technology stocks since the Nasdaq fell into a correction on March 8.
The inflation worries are still there, but they might have been a bit overdone. The positives, which include the possibility of 6% or higher U.S. GDP growth in 2021, the vaccine roll out, and strong earnings growth, seem to be outweighing inflation fears. Even with the 10-year U.S. Treasury above pre-pandemic levels at 1.70%, it remains well below the 3% that yields hit in 2018 and ultra-low by historical standards. This likely extendsthere is no alternativeinvesting (also read: The Return of Strong Earnings Growth)…
With this backdrop in mind,Pinterest PINSstock has surged about 10% in the last several trading sessions. Despite the comeback, it has nearly 10% more room to run before it returns to its highs. Investors might want to consider the rather unique social media-style firm compared to Facebook FB, Twitter TWTR, and Snapchat SNAP that’s poised to grow as people disconnect from traditional media and billions of more ad dollars pour into digital.
Adobe’s ADBEsubscription-based software from Photoshop to InDesign are staples and standard-bearers in the creative and design fields. The company that created the PDF has also expanded its business-focused roster and its growth outlook is impressive. Plus, ADBE has outclimbed Netflix NFLX, Apple AAPL, and other technology titans over the past five years.
Lastly, we look at the second-largest company in the world by market cap at $1.9 trillion,Microsoft MSFT. MSFT’s cloud computing space has boomed and it’s likely to drive growth going forward. And Microsoft shares jumped to new records on Monday.
Bitcoin, Like the Internet Itself, Could Change EverythingBlockchain 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 reportApple Inc. (AAPL) : Free Stock Analysis ReportAdobe Inc. (ADBE) : Free Stock Analysis ReportNetflix, Inc. (NFLX) : Free Stock Analysis ReportFacebook, Inc. (FB) : Free Stock Analysis ReportTwitter, Inc. (TWTR) : Free Stock Analysis ReportSnap Inc. (SNAP) : Free Stock Analysis ReportPinterest, Inc. (PINS) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || Deutsche Bank Says 52% of Its Investors Expect Bitcoin Below $60K in 12 Months: Deutsche Bank’s investor clients mostly see limited upside in bitcoin (BTC) this year and expect a decline towards $20,000-$40,000 in 12 months. Those are the highlights of a monthly market survey conducted by the German lender March 18-22 of 520 market professionals around the world.
Bitcoin has beentrading in a sideways range over the past weekafter failing to sustain an all-time-high around $61,000 reached earlier in the month.
• The 12-month BTC price forecast is more evenly distributed versus the three-month forecast, though a majority (52%) of respondents see prices under $60,000.
• The most common predicted range for bitcoin prices in three months was between $60,000 and $80,000, expected by some 36% of respondents.
• 69% of respondents think bitcoin is more likely to fall by half in 12 months, compared to 65% in February. BTC rallied by roughly 80% from February to March.
• Only 23% of respondents said they had ever bought bitcoin for their personal investments. Just over 40% of respondents under 35 have bought bitcoin compared to just 13% of those over 55.
• Deutsche Bank Says 52% of Its Investors Expect Bitcoin Below $60K in 12 Months
• Deutsche Bank Says 52% of Its Investors Expect Bitcoin Below $60K in 12 Months
• Deutsche Bank Says 52% of Its Investors Expect Bitcoin Below $60K in 12 Months
• Deutsche Bank Says 52% of Its Investors Expect Bitcoin Below $60K in 12 Months || Monthly Recap: Bitcoin and Ethereum Post Over 30% Gains in March: Bitcoin Continues its Parabolic Advance Throughout March Such an impressive uptrend was fueled by news of further adoption by some of the largest financial institutions worldwide. Citi declared that Bitcoin could become the “currency of choice” for international trade in a few years. The U.S. banking giant has released a 108-page document at the beginning of the month titled “Bitcoin: At The Tipping Point,” arguing that BTC is the “North Star” that acts as a guiding light for decentralized finance and other areas of the blockchain space. Along the same lines, the Director of Fidelity’s Global Macro Jurrien Timmer said that Bitcoin has evolved as a form of digital gold. According to the analyst, BTC will become scarcer than the precious metal, becoming a “more convex form of gold.” Weighing the pros and cons of investing in the digital asset, Timmer stated that it might make “one component of the bond side of a 60/40 stock/bond portfolio.” The acknowledgment that Bitcoin is now part of the global financial system from such major corporations seems to have been the catalyst that pushed prices to a new all-time high of $61,800 in mid-March. Nonetheless, the rising price action was quickly spoiled by a senior government official in India who stated that the nation would almost certainly ban cryptocurrency. The news reignited fear among crypto investors in the South Asian country since holding cryptocurrencies was also going to be a criminal offense punishable by up to 10 years imprisonment. As investors in India began to panic sell their holding, Bitcoin took an 18.50% nosedive to hit a low of $50,500 on March 25th. But some market participants took advantage of the downswing to add more tokens to their portfolios at a discount, with American citizens spending a significant portion of their U.S. stimulus checks into BTC. The bellwether cryptocurrency closed the month on news that Morgan Stanley was planning to offer its richest customers the option to invest in Bitcoin in high-risk funds, allowing prices to recover from the Indian sell-off. Ethereum Miners Threaten to Disrupt the Network, But Tensions Eased Like a rising tide that lifts all boats, the global recognition that Bitcoin achieved throughout March also helped Ethereum surge. The second-largest cryptocurrency by market capitalization rose from a monthly open of $1,420 to close the first quarter of the year at a high of $1,909, according to CEX.IO’s exchange rate. ETH investors generated a monthly profit of nearly 35%. Ether kicked off the month on news that Amazon Managed Blockchain added support for the smart contracts blockchain, allowing users to set up Ethereum nodes and join the network via Amazon’s blockchain service. Story continues Although the news was well-received by software developers, a proposal to improve Ethereum transaction costs took center stage. Ether’s core developers agreed to add the blockchain’s crucial EIP-1559 to the London fork in July. The idea behind the improvement proposals was to burn a portion of the gas fees on every transaction to reduce ETH supply. EIP-1559 could be thought of as an “ETH buyback,” making Ethereum a deflationary asset Certain miners publicly opposed the update since it would hurt their source of revenue. For instance, SparkPool and Bitfly, two of Ethereum’s key mining pools, shared their concerns on Twitter, stating that they were “sad to see many people only care about price now.” As a result, the hashtag “#stopeip1559” gained a significant amount of support. While several community members threatened to move their hashrate to Ethermine for 51 hours, Ethereum creator Vitalik Buterin vowed for a more immediate merge of Ethereum 1.0 and Ethereum 2.0. The merge would mark a more thorough transition to proof-of-stake and prevent miners from attacking the network. As tensions heated up between miners and Ethereum developers, market participants became concerned over the network’s stability. The potential Indian ban on crypto also served as fuel for a sell-off that saw ETH drop by nearly 22% to hit a low of $1,550 on March 24th. Thankfully, Ethereum layer 2 solution Hermez Network launched on mainnet promising to alleviate some of the well-documented congestion issues. Through ZK-Rollup technology, it was suggested that ETH would process vast amounts of transactions, moving billions of dollars worth of digital assets. The announcement was well received by the crypto community alongside Visa’s decision to allow digital currency payments settling directly on the Ethereum blockchain. Such positive developments allow Ether to recover the losses incurred and close the month in the greed. The Bull Run Isn’t Over Yet April has historically been the most bullish month for Bitcoin and Ethereum. Price data reveals a 51% average gain for both cryptocurrencies during the fourth month of the year. More importantly, Coinbase’s upcoming listing on the NASDAQ could significantly affect prices since it will bring digital assets to a new realm of investors. Market participants have already been placing their bets for the coming weeks. With $2 billion in open interest and a 0.79 put/call ratio, speculators forecast BTC will reach a price of $80,000 before the end of the month. Meanwhile, Ethereum’s technical indicators predict a nearly 40% advance towards a new all-time high of $2,500 or higher. Konstantin Anissimov, Executive Director at CEX.IO This article was originally posted on FX Empire More From FXEMPIRE: AMC Entertainment Upgrade Signals Better Times Ahead A Memorable March: Bitcoin and Ethereum Adoption Skyrockets E-mini S&P 500 Index (ES) Futures Technical Analysis – Expect Bullish Tone on Sustained Move Over 4010.00 EUR/USD Daily Forecast – U.S. Dollar Starts The Week On A Strong Note GBP/JPY Price Forecast – British Pound Continuing to Extend Oil Traders Wary of OPEC+ Change in Narrative View comments || Coming Soon: Ethereum-Based Kwikswap DEX to Launch Kwikswap V2 Testnet on Polkadot's ACALA Parachain: SYDNEY, AUSTRALIA / ACCESSWIRE / March 5, 2021 /Kwikswap is excited to announce the upcoming launch of Kwikswap V2 Testnet on ACALA Parachain in the next few days. Kwikswap is a unique decentralized protocol on Ethereum that enables users to swap, create markets, and participate in yield farming by staking and providing liquidity.
ACALA is a decentralized finance hub and stablecoin platform built as a parachain on the Polkadot blockchain ecosystem that powers cross-blockchain liquidity and applications.
ACALA is one of the two interoperability and layer 2 scaling solutions that Kwikswap is planning to deploy to enable cross-chain peer-to-peer (p2p) value transfer. According to the Kwikswap team, ACALA is an amazing Polkadot Parachain whose attractiveness to their vision is compounded by the fact that it's working closely with PLASM- its other layer 2 scaling solution.
Kwikswap V2 on ACALA Parachain: What to Expect
Kwikswap capitalizes on the massive potential of decentralized finance to overshadow traditional finance by allowing users to participate and get rewarded for their efforts. This comes with maximum user-experience convenience and perks like eliminating third-party involvement in payments and value transfer.
The plan is to deploy the Kwikswap DEX on PLASM and ACALA on Polkadot to bring additional features like staking, Voting, Stablecoins, and more. This will make Kwikswap the first cross-chain DEX to be deployed on two-layer 2 solutions on Polkadot.
Incorporating layer 2 solutions is part of Kwikswap's vision to make the platform as impactful and self-sustaining as possible by enabling cheaper transaction costs, faster finality, and improving transactions per second (TPS).
Upcoming features of Kwikswap's successful deployment on ACALA include:
• Stablecoins,
• Liquidity staking,
• Fixed and recurring payments/purchases,
• Use of native tokens for gas fees
• Instant token swaps using ACA, KWIK, aUSD, DOT, and BTC on ACALA
We are also looking forward to introducing additional interesting updates, which will be communicated in due course to our users and community. Kwikswap will introduce staking and pools in the upcoming release of Version 3 (V3) of Kwikswap DEX.
Why PLASM?
PLASM is a scalable and multi-virtual machine smart contact platform on Polkadot based on the Parity Substrate Framework. Polkadot's ecosystem uses Parachains like PLASM and ACALA to optimize interoperability by enabling developers to build bridges to standalone blockchain networks like Bitcoin and Ethereum.
This is why Kwikswap will also use PLASM to enable inter-blockchain token cross-over functionality. Kwikswap is up and running at full capacity on Ethereum and now planning a test run for its deployment on the ACALA Parachain. The successful deployment will enable users to pay gas fees using ACA token.
While ACALA test net is ready to go, Kwikswap deployment on PLASM, which will occur on the Dusty Testnet, will depend on how fast PLASM executes its planned Substrate updates. The updates will allow users to manage assets on the Cross-chain networks by creating a technical process for managing all Polkadot user assets.
Why Should You Consider Kwikswap?
As implied by its name, Kwikswap is already on its way to becoming the biggest, most-lucrative, straightforward, practical, fastest, and cheapest decentralized exchange in the world.
Here are 6 reasons why users should definitely participate in the Kwikswap protocol:
1. Kwikswap incorporates a friendly- user interface that makes it easy to navigate the platform and get paid for staking or providing liquidity using the KWIK token or the respective native token of the platform.
2. KWIK has a total supply of 250 million KWIK, with a deflationary mechanism to reduce supply and increase its value.
3. Users can either earn KWIK tokens by staking and providing liquidity or both. Users get 0.15% of the 50% fees allocated to liquidity providers while staking on the Mainnet, KwikStake™ awards users with 0.10% of the 33.3% allocated to staking, which is distributed every three days. Staking and pools will be available on the upcoming Kwikswap V3 release. The staking process involves a user-specified locking period, after which it takes 7 days to move user funds from the pool to their wallet.
4. Users will be able to use their Ethereum Wallet address as a Polkadot address: They get to enjoy fast and cheap transactions, seamless transfers between blockchain ecosystems, and swapping cryptocurrencies without having to go through centralized exchanges.
5. Kwikswap adds a new beneficiary concept that acts as a secondary security feature for their funds.
6. Another key reason is that users can be assured of security and originality. Kwikswap is a brand-new exchange developed from scratch, unlike many existing decentralized ones, which have been forked and modified from other similar platforms.
For more information and being part of this project, here is the official website linkhttps://home.kwikswap.org/
Social links
https://github.com/kwikswaphttps://t.me/kwikswaphttps://twitter.com/kwikswapdexhttps://kwikswap.medium.com/https://www.linkedin.com/company/kwikswapHttps://www.instagram.com/kwikswaphttps://www.instagram.com/kwikswap
Media contact
Company Name: KwikSwap ProtocolContact Person: James LeeContact Person Title: FounderE-mail:admin@kwikswap.org/marketing@kwikswap.orgWebsite:https://home.KwikSwap.orgPre-sale:https://buy.kwikswap.org
SOURCE:KwikSwap Protocol
View source version on accesswire.com:https://www.accesswire.com/633615/Coming-Soon-Ethereum-Based-Kwikswap-DEX-to-Launch-Kwikswap-V2-Testnet-on-Polkadots-ACALA-Parachain || Welltower's (WELL) Seniors Housing Occupancy Slips in February: While Welltower Inc. WELL continues to make solid strides on the portfolio front with operator transitions and non-strategic sales; continued senior housing woes, exacerbated by the pandemic, have been affecting its performance. The operating environment for senior housing properties remains challenging amid the surge in global COVID-19 cases. This has been affecting occupancy, move-ins and move-outs at the company’s seniors housing operating assets. According to a business update, total seniors housing operating (SHO) portfolio occupancy continued to decline, slipping 220 basis points from 76.2% on Dec 31, 2020, to 74% as of Feb 28, 2021. This likely reflects the adverse effects of the resurgence of COVID-19 cases in December and January that is anticipated to have compelled operators to reinstate admission bans. In fact, as of mid-January, 84% of the company’s communities were accepting new residents. The number improved to 95% as of Feb 28, 2021. This will limit occupancy losses in the upcoming period. Moreover, the company noted elevated cleaning and PPE protocols. Hence, operating expenses are expected to continue to be high due to rising labor costs and procurement cost of protective-equipment supplies. Further, with occupancy declines and rising expenses, the company is likely to witness net operating income (NOI) erosions in the near term. Amid these concerns, the speedy vaccination process at Welltower’s seniors housing communities is reassuring. In fact, the company noted that nearly all assisted living/memory care communities have finished the first vaccine clinic, while many have completed the second clinic as well. Markedly, while the seniors housing industry beats back the pandemic through vaccination, immediate recovery is less likely and will drag the company’s near-term performance. Welltower currently carries a Zacks Rank #5 (Strong Sell). In the past year, the company’s shares have declined 10.9%, wider than the industry's fall of 2.1%. Story continues Stocks to Consider Extra Space Storage Inc. ’s EXR Zacks Consensus Estimate for 2021 FFO per share has moved up 2.5% to $5.66 in the past week. The company currently carries a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here . JBG SMITH Properties JBGS Zacks Consensus Estimate for 2021 FFO per share has been unchanged at $1.48 in a month’s time. The company has a Zacks Rank of 2 at present. American Tower Corporation ’s AMT FFO per share estimate for the current year has moved up marginally to $9.41 in the past week. The company carries a Zacks Rank of 2, currently. Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs . 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 Extra Space Storage Inc (EXR) : Free Stock Analysis Report JBG SMITH Properties (JBGS) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Bitcoin Traders Keep Buying the Dip, Blockchain Data Suggests: Bitcoin buyers may have bought the recent price dip and now are taking down their cryptocurrency from exchanges, blockchain data suggests. To digital-market analysts, it’s a bullish signal traders or investors might be preparing to hold theirBTCfor the long term.
• More than 1,365 BTCs were removed from cryptocurrency exchanges during the 24 hours through 12:00 UTC Thursday, the highest for a 24-hour period so far this year, according to the blockchain data firm Glassnode.
• The spike in withdrawals from exchange addresses came as the No. 1 cryptocurrency by market capitalization slumped on Thursday to near $50,000, from a high at $56,783.86 in the past 24 hours.
• “Today we have a new all-time high in BTC leaving the exchanges for 2021 and a new dip-buying prize to award,” bitcoin analyst Willy WootweetedThursday.
• At the same time, more coins are being withdrawn to an illiquid status, separate blockchain data show.
• The monthly net change of supply held by liquid and highly liquid entities have pushed into deeply negative levels, to a degree not seen in three years, according to Glassnode. (See chart above.)
• That might be related to many investors’ growing use of bitcoin as a hedge against inflation in the face of trillions of dollars of monetary stimulus pumped into global financial markets over the past year by central banks around the world.
• “The trend of coins withdrawn and locked away into long-term holding patterns is a direct response to the world’s central bank response to 2020,” Glassnode wrote in its newsletter earlier this month. “There still appears to be significant demand from long-term investors.”
• At press time, bitcoin is changing hands at $51,278.06, down 9.49% in the past 24 hours.
• Bitcoin Traders Keep Buying the Dip, Blockchain Data Suggests
• Bitcoin Traders Keep Buying the Dip, Blockchain Data Suggests
• Bitcoin Traders Keep Buying the Dip, Blockchain Data Suggests
• Bitcoin Traders Keep Buying the Dip, Blockchain Data Suggests || Bitcoin, Around $51K, Nears Upper Bound of 3-Year Price Trend: Bitcoins bull run over the past year may be showing signs of exhaustion as it pushes toward the upper bound of a three-year price channel, an analysis of chart patterns shows. The largest cryptocurrency by market value was changing hands around $51,000 as of 16:41 coordinated universal time (11:41 a.m. ET). Bitcoin ( BTC ) is up 75% for the year to date. Upward price channel from 2017s high shows possible resistance for BTC around $60,000, which could cap upside. A flattening of the 50-week volume weighted moving average (VWMA) would indicate a slowing long-term uptrend, similar to 2018. For now, that 50-week VWMA is climbing, currently around $22,000. Traders should watch for a break below the 50-day volume weighted moving average to confirm a shift in trend. Related Stories Bitcoin, Around $51K, Nears Upper Bound of 3-Year Price Trend Bitcoin, Around $51K, Nears Upper Bound of 3-Year Price Trend Bitcoin, Around $51K, Nears Upper Bound of 3-Year Price Trend Bitcoin, Around $51K, Nears Upper Bound of 3-Year Price Trend || Ethereums Vlad Zamfir Files Injunction Against CasperLabs Citing Copyright Infringement: Ethereum Foundation researcher Vlad Zamfir has filed a complaint against blockchain startup CasperLabs alleging the company has violated U.S. Federal trademark law. According to a court document filed on March 17, Zamfir is accusing the startup of labeling its proof-of-stake (PoS) protocol Casper and for filing for federal registration of the Casper mark. The issue, Zamfir claims, is that CasperLabs has improperly used the mark to benefit commercially while causing confusion and damage because Zamfirs own PoS research, stretching six years back, is of the same name. Related: Bitcoin Traders Brace for Record $6B in Options to Expire Friday Zamfir says he and Ethereum founder Vitalik Buterin developed a PoS protocol called Casper in 2015 that was then followed with a first draft version in 2017. The Casper protocol 1.0 specification then went live in 2018, where it was subsequently picked up by CasperLabs the following year after hiring Zamfir as its lead consensus protocol architect. CasperLabs began building a new blockchain based on Zamfirs version of PoS called the Highway Protocol. A licensing agreement was drawn up in 2019, Zamfir argues, that provided limited use of the name Casper and Zamfirs research. Related: Bitcoin News Roundup for March 24, 2021 I
made it clear
I did not consent to CasperLabs use of the name Casper, said Zamfir in the complaint. The Ethereum researcher argues CasperLabs filed a federal registration of the Casper mark without his knowledge or consent. It is alleged the startup later changed the name to Casper Highway Protocol and then finally Casper when it sought to launch a coin sale on Tuesday. As such, Zamfir has filed a civil action for false designation of origin under the Lanham Act, 15 U.S.C. Section 1125(a) and for the substantial and related claim of unfair competition under the common law of California. Story continues Zamfir points specifically to Section 43(a) of the act which stipulates that is unlawful for any person to use words or images for commerce that would otherwise cause confusion among others. In a first supplemental declaration filed in the U.S. District Court Southern District of California on Monday, Zamfir said he had first learned of CasperLabs U.S. trademark registration and application on Jan. 25, 2021. See also: Hearing in SEC Case Positive for Ripple, XRP, Says Lawyer In the declaration, Zamfir alleges CasperLabs changed its Telegram channel name to Casper a month after Zamfir had learned of the registration and application. He provided screenshots of Telegram conversations as evidence. However, CasperLabs via a notice to strike Zamfirs evidence, argues the screenshots, timing of the evidence and legality around the filing by Zamfir is unauthorized, inadmissible and does not affect the outcome. Related Stories Ethereums Vlad Zamfir Files Injunction Against CasperLabs Citing Copyright Infringement Ethereums Vlad Zamfir Files Injunction Against CasperLabs Citing Copyright Infringement
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: up || Prices: 53555.11, 57750.18, 57828.05, 56631.08, 57200.29, 53333.54, 57424.01, 56396.52, 57356.40, 58803.78
|
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 exchange Bitstamp says to resume trading on Friday: LJUBLJANA (Reuters) - Bitstamp, one of the largest exchanges for the digital bitcoin currency, said it would resume trading later on Friday after suspending operations because of a security breach on Sunday.
Bitstamp had suspended its service after the breach resulted in the loss of around 19,000 bitcoins with a value of some $5 million.
"Trading will resume during the day today," Damijan Merlak, one of Bitstamp's two Slovenian founders, told Reuters in an emailed message on Friday.
On Wednesday Bitstamp had said it expected that trading could resume within 24 hours and added that customers would not lose money because of the breach and that security would be increased.
Merlak said various institutions from the European Union and the United States were investigating the security breach without naming them. The Slovenian police told Reuters it was not involved in the investigation.
Last February, Bitstamp claimed that developers had come up with a solution to thwart cyber attacks against its platform after Mt. Gox, once the world's biggest bitcoin exchanges, lost an estimated $650 million worth of the virtual currency when its computer system was hacked.
The Bitstamp breach represented a small fraction of its total bitcoin reserve and the majority was held in secure offline systems, the Slovenia-based firm posted on its website. (http://bit.ly/1eTIPEt)
Bitcoin, the best-known virtual currency, started circulating in 2009. Unlike conventional money, bitcoin is generated by computers and is independent of control or backing by any government.
A bitcoin is currently worth $276.80.
Merlak, 28, and his colleague Nejc Kodric, 25, both computer experts, founded Bitstamp in 2011. According to the Slovenian media the two had earned about 23 million euros ($27.2 million) from the enterprise which places them among the 50 richest Slovenians.
($1 = 0.8469 euros)
(Reporting By Marja Novak; editing by Keith Weir) || Market Uncertainty Is A Golden Opportunity For Some: On Friday, gold prices rose as investors waited for U.S. non-farm payrolls data to deliver a clearer picture of the Federal Reserve’s timeline for a rate hike. The commodity has seen a marked increase over the past week as uncertainty around the globe has driven traders to seek security. Greek Woes The eurozone has been a major driver of market worries this week as Greece’s newly elected government continued to be at odds with the nation’s creditors. Despite reports that the two sides were willing to negotiate, the European Central Bank announced that it would no longer accept Greek bonds in exchange for funding unless Prime Minister Alexis Tsipras is able to strike a deal with the troika over Greece’s bailout program. Since Tsipras has been very vocal about his plans to reverse Greece’s previously agreed to bailout conditions, many worry that the nation will eventually be forced to exit the eurozone. Mixed U.S. Data Data from the U.S. has clouded estimates for the U.S. Federal Reserve’s rate hike, something that has been positive for gold. Although the bank was initially expected to raise rates early in 2015, many believe the Fed will push back its decision to tighten until the U.S. economy is on more stable ground. ECB Steps Away From Greece, Markets Sink The stronger dollar coupled with weak foreign growth widened the U.S. trade deficit in 2014, causing many to lower their expectations for U.S. GDP. If Friday’s non-farm payrolls report underwhelms, gold prices can be expected to rise even further as a weak figure would likely keep expectations for a rate hike at bay. See more from Benzinga Bitcoin Usage To Plummet, Report Says Colorado Has More Marijuana Tax Money Than It Knows What To Do With Snapchat Isn't Just For Teen Messaging Anymore © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Bitcoin just getting started and its potential is "almost unimaginably broad": Bitcoin is an "exciting new technology" but Bill Gates doesn't think it's a proper tool for the world's roughly 2.5 billion 'unbanked' poor."We don't use bitcoin specifically for two reasons,"Gates said Wednesdayduring a Reddit 'Ask Me Anything' session. "One is that the poor shouldn't have a currency whose value goes up and down a lot compared to their local currency. Second is that if a mistake is made in who you pay then you need to be able to reverse it so anonymity wouldn't work."Those are "valid criticisms," according to Wall Street Journal reporter Paul Vigna, but should not detract from bitcoin's huge potential to fundamentally change the world of finance.Bitcoin is "one of the most powerful innovations in finance in the past 500 years," Vigna and co-author Michael Casey argue in their new book:The Age of Cryptocurrency. (Coincidentaily, the authors did their own Redditt AMA today which can be foundhere.)In the accompanying video, Vigna compares bitcoin to the "horseless carriage" in the late 19th century. "This thing was just invented," he says of the digital currency. "We are just figuring out what can be done with this. They are just starting to build it."Indeed, bitcoin has come a long way since its launch in late 2008: More than 82,000 merchants currently accept bitcoin, including Microsoft, and global usage of the currency averaged $50 million a day in 2014,The WSJ reports. Coinbase, the first U.S.-based bitcoin exchange, just launched this month after receiving $75 million in backing from investors including the NYSE and Spain's Banco Bilbao. And the Winkelvoss twins have committed to launch their own exchange, Gemini, which they claim will be'the Nasdaq of Bitcoin'."What most excites these" -- and other investors like tech legends Marc Andreesen and Reid Hoffman -- "is bitcoin's promise as a platform whose future applications are almost unimaginably broad," Casey and Vigna write. "Already, hundreds of specialized apps are being built on top of the digital-currency blockchain software, which is seen in this context as a kind of base operating system."Bitcoin's benefits -- including transaction speed and anonymity -- and its potential to disrupt the current system where banks serve as financial intermediaries, aka middle men -- have been widely discussed and debated.But what aboutthe price?Bitcoin fell over 60% vs. the dollar in 2014, which also saw the bankruptcy of one of its biggest exchanges, Mt. Gox. This year didn't start much better in terms of price; an early drop to start the year left bitcoin, at its recent nadir, more than 80% below its 2013 high."The market is volatile because it is very thin and it is still being built," Vigna explains. "If [bitcoin] keeps growing, if it keeps building the price will smooth itself out. It will become a more stable currency as more people use it. And you’ll see that [volatility] go away and then they will build the rest of the products around it. The biggest thing is these are very early days for this. This is a very, in my mind, it’s a very exciting technology."On that, at least, Vigna and Gates are in agreement.
What do you think? Is bitcoin a scam? A flash in the pan? A profound advance in currency? Something in between? Let us know in the comments section below or reach out to me on Twitter:@aarontask || Security breach and price crash mark bad start to 2015 for bitcoin: Bitcoin is not having the best start to 2015. Bitstamp, the second-largest USD bitcoin exchange, suspended its operations early Monday morning after discovering one of its wallets has been “compromised”. (Update: Bitstamp has confirmed that 19,000 BTC, or $5 million, is missing — see full note at bottom.)
AReddit user spotted the problemafter trying to send bitcoins to his account, which then never arrived. An e-mail from Bitstamp support said that “You should STOP SENDING bitcoin deposits to your Bitstamp account IMMEDIATELY as private keys of your deposit address may be lost. Your bitcoins already deposited with us are stored in a cold wallet and can not be affected.”
Bitstamp has since updated its site with an acknowledgement of the problems and has suspended its operations entirely:
We have reason to believe that one of Bitstamp’s operational wallets was compromised on January 4th, 2015.As a security precaution against compromises Bitstamp only maintains a small fraction of customer bitcoins in online systems. Bitstamp maintains more than enough offline reserves to cover the compromised bitcoins.IN THE MEANTIME, PLEASE DO NOT MAKE DEPOSITS TO PREVIOUSLY ISSUED BITCOIN DEPOSIT ADDRESSES. THEY CANNOT BE HONORED!Customer deposits made prior to January 5th, 2015 9:00 UTC are fully covered by Bitstamp’s reserves. Deposits made to newly issued addresses provided after January 5th, 2015 9:00 UTC can be honored.Bitstamp takes our security and soundness very seriously. In an excess of caution, we are suspending service as we continue to investigate. We will return to service and amend our security measures as appropriate.
For now, it appears unlikely the Bitstamp situation is aMtGox level meltdown. As CEO Nejc Kodric explained on Twitter, the exchange holds the majority of its bitcoin in cold wallet storage (where the keys to the walletr are stored offline, often on a USB drive or even on pieces paper), which is generally considered more secure. Kodric also that Bitstamphad passed an independent auditin May 2014.
To restate: the bulk of our bitcoin are in cold storage, and remain completely safe.
— Nejc Kodrič (@nejc_kodric)January 5, 2015
Bitstamp’s suspension of service is another early blow to bitcoin in 2015. The price started the year at $318, but has already fallen $50 dollars toaround $268as of 11a.m. PT. Not a great start for the currency that was already labeled the “worst investment of 2014“.
Update as of 3:10p.m. PT: It looks like 19,000 BTC (or approximately $5 million) was stolen from Bitstamp. Kodric released a new statement, promising to honor balances held prior to the suspension of services.
Bitstamp customers can rest assured that their bitcoins held with us prior to temporary suspension of services on January 5th (at 9am UTC) are completely safe and will be honored in full.
On January 4th, some of Bitstamp’s operational wallets were compromised, resulting in a loss of less than 19,000 BTC. Upon learning of the breach, we immediately notified all customers that they should no longer make deposits to previously issued bitcoin deposit addresses. As an additional security measure, we suspended our systems while we fully investigate the incident and actively engage with law enforcement officials.
This breach represents a small fraction of Bitstamp’s total bitcoin reserves, the overwhelming majority of which are held in secure offline cold storage systems. We would like to reassure all Bitstamp customers that their balances held prior to our temporary suspension of services will not be affected and will be honored in full.
We appreciate customers’ patience during this disruption of services. We are working to transfer a secure backup of the Bitstamp site onto a new safe environment and will be bringing this online in the coming days. Customers can stay informed via updates on our website, on Twitter (@Bitstamp) and through Bitstamp customer support at support@bitstamp.net.
Image copyrightFlickr/antanacoins.
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• When is a media company also a tech company? It’s complicated || 3 reasons to be bearish on Shake Shack: Shake Shack ( SHAK ) rocketed nearly 120 percent higher in its first day of trading on Friday, valuing the company at about $1.6 billion. "I think people see Shack as a changing of the guard," CNBC "Fast Money" trader Tim Seymour said. Although investors jumped into the stock with enthusiasm on Friday, "Fast Money" traders were more skeptical of the stock, especially after its huge IPO gains. Shake Shack shares closed just below $46 per share after pricing at $21. The company offered 5 million shares, and the volume brought "extreme squeezing to the upside," said trader Steve Grasso. "I would be very careful in the next couple days and weeks," Grasso said. Read More What's next for Shake Shack after monster IPO? Investors should be wary of chasing the stock after it more than doubled in one day of trading, said trader Guy Adami. The stock could move to $60 per share or higher in the long term but looks less appealing now, he added. "It's 'greater fools' theory and you don't want to be the last fool," Adami said. Trader Brian Kelly would also stay away from Shake Shack in the short term, but added that "it's not a bad stock." Read More Burger stock bull market beats market by double Disclosures: Steve Grasso Steve Grasso is long AAPL, BA, CLVS, EVGN, FB, GDX, GOOGL, IMMR, KBH, KDUS, MHY, MJNA, NVIV, PFE, POT, SO, T, TMUS, TWTR and YHOO. His firm is long USO, FCX, NE, NEM, OXY, RIG, VALE, MCD and KO. His kids are long EFG, EFA, EWJ, IJR and SPY. Guy Adami Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck. Brian Kelly Brian Kelly is long BTC=, US Dollar, ZBH5, HYG puts, TWTR call spreads and BBRY call spreads. He is short EWA, EWG, EWQ, EWZ, EWH, EWW, HGH5, yen, Australian dollar, British pound, Canadian dollar, yuan and copper. Tim Seymour Tim Seymour is long AAPL, BAC, C, DIS, F, GE, GM, GOOGL, INTC, JCP, BX and SUNE. Tim's firm is long BABA, BIDU, CCU, DSKY, KNDI, MCD, NKE, NOK, SINA, SBUX, TSL and VIP. || Oil Prices Changing the Face of Global Geopolitics: By Andrew Topf for Oilprice.com In a documentary that aired recently on the Canadian Broadcasting Corporation's popular The Fifth Estate program, an allegory of Vladimir Putin was presented. The wily Russian president was described growing up in a shabby St. Petersburg apartment, where he would often corner rats. Now, punished by low oil prices and Western sanctions against Russian incursions in Ukraine/ Crimea, Putin is himself the cornered rat. Many wonder, and fear, what he will do if conditions in Russia become increasingly desperate. In the last six months oil prices have plunged over 50 percent and the Russian economy is hurting. The country now faces slowing economic growth, a depressed ruble, and runaway inflation estimated to be up to 150 percent on basic foodstuffs. ALSO READ: States Where the Middle Class Is Dying The Kremlin is counting on austerity cuts to help balance its budget, which has revenues coming in at $45 billion lower than earlier projections. The exception, significantly, is defense. With the military exempted from the austerity plan, it begs the question of whether Putin will "play the nationalist card," such as he did in Crimea, in an effort to strengthen greater Russia during a period of economic weakness. Georgia on His Mind We are already seeing this to be the case. As Oilprice.com reported on Tuesday, Putin is set to absorb South Ossetia – Georgia's breakaway republic that declared itself independent in 1990. Under an agreement "intended to legalize South Ossetia's integration with Russia," Russia would invest 2.8 million rubles (US$50 million) to "fund the socio-economic development of South Ossetia," according to Agenda.GE, a Tbilisi-based news site. The situation is analogous to Crimea because, like Crimea, South Ossetia contains a significant Russian-speaking population with ties to the Motherland. If Putin succeeds in annexing the tiny province, it will be a real poke in the eye to the United States, which provoked Russia in the early 1990s by promoting construction of a pipeline between the former Soviet republics of Azerbaijan and Georgia. The BTC pipeline moves oil from Baku in Azerbaijan to Tbilisi in Georgia and then onward to Ceyhan on Turkey's Mediterranean coast. Story continues ALSO READ: Merrill Lynch Has 5 Large Cap Energy Stocks to Buy Now BTC started operating in 2006. Then, two years later, Putin built his own pipeline to cut out Georgia. The South Ossetia pipeline run by Gazprom stretches 75 kilometers from South Ossetia to Russia. The current move on South Ossetia is a way for Russia to assert its energy independence in the face of Western sanctions and low oil prices. It comes as Russia announced plans to divert all of its natural gas crossing Ukraine to a route via Turkey. As Bloomberg reported last week, Gazprom will send 63 billion cubic meters through a proposed link under the Black Sea to Turkey – after the earlier South Stream pipeline, a $45-billion project that would have crossed Bulgaria, was scrapped by Russia amid opposition from the European Union. By sending the gas to Turkey and on to Europe via Greece, Gazprom is in effect sending Europe an ultimatum: build pipelines to European markets, or we will sell the gas to other customers. According to one observer, the proposed land grab in South Ossetia combined with the snub to Europe by shifting its gas to Turkey and bypassing Ukraine, is a classic Putin power play: "Russia is preparing to absorb a province of neighboring Georgia, and delivering an ultimatum to Europe that it could lose much of the Russian gas on which it relies," Steve LeVine writes in Quartz. "Putin has argued that the west is simply intent on ousting him and weakening Russia... Faced with these perceived attempts to undercut him and his country, Putin suggests that he has no choice but to pull around the wagons and stick it out. This could go on a long time." ALSO READ: Shake Shack Leads the Parade of IPOs Scheduled for Next Week Iran: Falling Oil Prices Spur Peace Dividend Some have speculated that the oil price crash was orchestrated by the Saudis, possibly in collusion with the United States and other Gulf states, to punish Iran, its main political and religious rival in the Middle East. Whether or not that is true, there is no denying the effects of a low oil price on Iran's economy. "Iran is already missing tens of billions of dollars in oil revenue due to Western sanctions and years of economic mismanagement under former President Mahmoud Ahmadinejad," Bloomberg reported on Jan. 7. Like Russia, Iran is looking at spending cuts in next year's budget, which is based on an overly-optimistic $72 a barrel crude oil price. However, unlike Russia, which is "circling the wagons" and pulling further away from the West currently, the oil price drop could actually lead to more of a détente between Iran and Western countries. In a speech on Jan. 4, President Hassan Rouhani said Iran's economy "cannot develop in isolation from the rest of the world," while at the same time, Iran's foreign minister was negotiating a nuclear deal that could see the lifting of UN sanctions, the Washington Post observed. ALSO READ: States With the Highest (and Lowest) Gas Taxes Then there is the cooperation between the West and Iran over the terrorist group ISIS. The National Post's J.L. Granatsein wrote in a column on Tuesday that Iran has deployed substantial numbers of its Revolutionary Guard elite Al Qods brigade into Iraq and Syria to fight ISIS, along with Western allies including the US, Britain, France and Canada. This is despite Iran's support for Hezbollah in Lebanon and Syria's president Assad. "Politics makes strange bedfellows indeed, but not much can be stranger than this. Led by the Americans, hitherto the Great Satan to the Iranian leaders, the ties between the West and Iran are becoming tighter, each side reacting to the horrors of Islamist fundamentalism throughout the region," Granatsein writes. "The Iranians have been hurt by sanctions, and they are being wracked even more by the falling price of oil. Easing curbs on trade and Iranian banks may mitigate the effects of the oil price collapse." Venezuela Bracing for the Worst The other major loser in the oil price collapse, Venezuela, may not see such a positive outcome. Wracked by decades of economic mismanagement by Hugo Chávez, the South American oil producer was already struggling to pay its debts when new president Nicolás Maduro came to power. ALSO READ: Analyst Shows Why GE Likely to Keep Raising Its Dividend Now, with inflation running at 60 percent and lines forming outside state grocery stores for food and other basic supplies, Maduro faces the specter of serious social unrest if conditions do not improve. The country has some of the world's cheapest gasoline prices, but Maduro has refused to end fuel subsidies, fearing, no doubt, a repeat of widespread riots in 1989 that left hundreds dead after gasoline prices were allowed to rise. Venezuela is even more dependent than Russia on the price of oil, earning some 96 percent of its foreign currency from oil sales, putting Maduro in the untenable position of either borrowing more, despite crushing debts, or slashing spending: "With only $20 billion left in its reserves, and $50 billion in debt to China alone, Venezuela appears headed toward a choice between abandoning its oil giveaways and defaulting on its debts, or starving its own population to the point of revolt," according to the Washington Post. Related Articles The Worst States to Grow Old In The Best States to Grow Old In 5 Stocks Under $5 With Gigantic Potential Upside || How tech trials force a choice between bad people and bad law: Of course Ross Ulbricht was guilty. Despite his far-fetched claims of mistaken identity, a New Yorkjury confirmedthe obvious: that Ulbricht (aka Dread Pirate Roberts) was the criminal mastermind who took on a villain’s name, and became rich by running an online marketplace that sold any drug imaginable.
All the same, protestors on the internet and at the courthouse still insisted Ulbricht was innocent. More broadly, the Dread Pirate (who is now awaiting sentencing) also enjoyed sympathy from many in the tech press, which often downplayed the bad things he did, and instead cast the FBI as the villain in the case.
Such moral indulgence is odd, and doesn’t extend to Ulbricht alone. Other tech rogues, including a corpulent charlatan and a Nazi sadist, also enjoy public sympathy. But why? A big part of it may lie with the government’s heavy-handed approach to internet-related crime.
Bad people
Ross Ulbricht didn’t start out bad. Indeed, accounts of hispast lifefrom his mother and Ulbricht reveal a very different sort of person: an Eagle Scout, and then a bright and sensitive physics student who worked hard to build a used books company.
But then he became someone else. He started the Silk Road marketplace, which began as a relatively benign forum for finding magic mushrooms, but then devolved into a free-wheeling playground for hard drugs, forged documents and prostitution.
The notorious bazaar also changed Ulbricht himself: FBI evidence from a seized laptop suggests that he attempted to hire hit mento murderthose he believed had betrayed him (the “hit men” turned out to be government agents but Ulbricht believed they were real).
This tragic arc, which saw the Eagle Scout become the Dread Pirate Roberts, may explain some of the sympathy for Ulbricht. But that’s hardly the case for Weev, another famous figure in internet circles who is also facing prosecution by the Justice Department.
Weev, whose real name is Andrew Auernheimer, wassentencedto three years in prison for what the government describes as a hack on AT&T. But he is better known for his other legacy as one of the cruelest trolls on the internet, whose antics haveexposed womento death threats. And last year, Weedreinvented himselfas a Jew-hating White Supremacist.
Despite all this, many tech outlets hailed an appeals court decision last year to vacate Weev’s conviction on the hacking charges on procedural grounds, and to release him from prison. And while Weev doesn’t exactly enjoy public sympathy,storiesof hislegal battleoften elide the bad things he has done.
Other antiheroes of the tech worlds include Julian Assange, theself-aggrandizingWikileaks leader who faces sexual assault accusations in Sweden, and outlaw music mogul Kim Dotcom.
Dotcom has done a litany of bad things, including making millions from purloined movies and allegedlyrattingon his rivals, but he is still hugely popular with many internet communities. The300-pound fugitiveis even dabbling in mainstreampolitics in New Zealand, where he is living while he fights U.S. efforts to extradite him to face multiple criminal charges.
The celebrity-style adulation that Dotcom and the others receive is no doubt frustrating for the law enforcement officials trying to convict them. The reason for it, however, is not just because the outlaws are good at gulling the public (though that’s part of it), but because of people’s legitimate misgivings about the laws that the U.S. is using to prosecute them.
Bad laws
Aaron Swatrz was a genius so beloved in the tech community that a film-maker made an acclaimed movie about him called “The Internet’s Own Boy.” But he was also a criminal in the eyes of the government, and some believe the Justice Department’s relentless effort to prosecute led the 26-year-old Swartz tocommit suicidein his Brooklyn apartment two years ago.
What crime led to this end? In 2009, Swartz used MIT computers to download millions of academic articles from a database called JSTOR – articles whose authors are typically unpaid, but that are licensed to universities at high fees. His action may have been ill-advised, but hardly amounts to a serious crime.
Nonetheless, the Justice Departmentcame at Swartzwith a law called theComputer Fraud and Abuse Actthat gave prosecutors discretion to seek a prison term of 35 years and a $1 million fine.
The CFAA is a clumsy statute dating from long ago that relies on vague concepts like “unauthorized access,” and lawmakers have tried to reform it. Yet those efforts have so far failed, and the Justice Department keeps using it in all sorts of cases — including that of Weev.
In the government’s view, Weev committed illegal hacking under the CFAA when he “accessed” the AT&T website to demonstrate a security flaw that spat out private email addresses. Skeptics, however, point out that Weev simply entered information into a public website available to anyone with an internet browser, and ask how this amounts to hacking.
The CFAA also grounded one of the seven charges– “conspiracy to commit hacking” — on which Ross Ulbricht was convicted, although that charge was overshadowed by other elements of the trial (includinga theorythat the government itself had violated the CFAA.)
Meanwhile, the CFAA is hardly the only questionable law that is at issue in tech-related prosecutions.
Before the Silk Road case, Ulbricht’s mother madea forceful argumentthat her son’s prosecution should be seen through the lens of systemic abuse by the Justice Department of surveillance and drug laws. She has a point: whatever harms caused by Silk Road drug deals, they pale in comparison to the destruction wrought by America’s ruinous “war on drugs.”
As for Kim Dotcom, his use of a mass piracy company to get rich is impossible to justify. But so too are many aspects of U.S. copyright laws, whoseabsurd termsand harsh penalties serve to benefit a narrow sector of the entertainment industry at the expense of the general public. Is it a surprise that knee-jerk attitudes to digital media by government and industry has led some to cheer for Dotcom instead of the industry that wants him prosecuted?
The hard choice
The cases against Ulbricht, Weev and Dotcom raise a dilemma because they can force us to choose between supporting a bad person or a bad law. A choice to convict such men may serve to legitimize unjust laws, while exonerating them amounts to giving them a free pass for unacceptable actions.
The cases can be harder still since they often involve technology (like TOR, peer-to-peer tools and bitcoin) that is unfamiliar to average people, but that the government often characterizes as inherently suspicious and related to “hacking.”
All of this helps to explain why the tech community can embrace antiheroes over Justice Department prosecutors who are apt to employ every legal tool at their disposal — even if it is one that is harsh or outdated.
The solution then is to give the prosecutors better tools, and not simply more of them. If the U.S. government is going to retain credibility in its effort to go after what it sees as online bad guys, it will have to do a better job of defining crime, and matching crime to punishment.
This story was updated on 2/15 to replace the word “charges” with “accusations” to describe the sexual assaultallegationsagainst Assange.
Image copyrightWikipedia.
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• The Internet of Things has a new home on Gigaom Research || U.S. bitcoin exchanger who sold on Silk Road gets four years in prison: By Nate Raymond NEW YORK (Reuters) - A Florida plumber who operated an underground bitcoin exchange selling the digital currency to users of the black market website Silk Road was sentenced to four years in prison on Tuesday. Robert Faiella, 55, was sentenced by U.S. District Judge Jed Rakoff in Manhattan after pleading guilty to operating an unlicensed money transmitting business. His sentence came a year after prosecutors unveiled charges against Faiella and his co-defendant, prominent bitcoin evangelist Charlie Shrem. His sentencing came as trial continued for Ross Ulbricht, the alleged operator of Silk Road, a website where drugs and other illicit goods could be bought secretly with bitcoin. Rakoff in December sentenced Shrem, the former vice chairman at the trade group Bitcoin Foundation, to two years in prison for aiding and abetting an unlicensed money transmitting business. But Rakoff said Faiella, who must with Shrem also forfeit $950,000, deserved a harsher sentence, citing in part a prior conviction for a tax offense. "He knew from his own criminal history the nature of the risk he was taking, and he knowingly assumed that risk," Rakoff said. Prosecutors say from December 2011 to October 2013, Faiella sold bitcoin for cash to users of Silk Road, a website that by the time authorities closed it had $200 million in drug sales. Operating under the name BTCKing, Faiella would fill user orders for bitcoins through Shrem's exchange, BitInstant, ultimately trading in over $1 million in cash, prosecutors said. Lawyers for Faiella, a licensed plumber, said his crimes were motivated by a desperate financial situation amid job and medical problems. "At the time of the offense, I saw no other way," Faiella said in court Tuesday. "That still doesn't change that I broke the law." Ulbricht, 30, faces seven counts including narcotics trafficking conspiracy. Joshua Dratel, his lawyer, has acknowledged he created the website but says his client became the "fall guy" for its true operators. Story continues He has also pointed to other people authorities investigated as being behind Silk Road, including Mark Karpeles, the former chief of the defunct bitcoin exchange Mt. Gox. Karpeles denies involvement with Silk Road. A federal judge on Tuesday struck some but not all of a U.S. Department of Homeland Security agent's testimony from Thursday about the Karpeles investigation. The agent, Jared Der-Yeghiayan, testified again Tuesday and will resume Wednesday. The case is U.S. v. Faiella, U.S. District Court, Southern District of New York, No. 14-cr-00243. (Reporting by Nate Raymond in New York; Editing by Cynthia Osterman) || Is Bitcoin Too Big To Fail?: Bitcoin has seen a lot of criticism over the past year, with many turning a skeptical eye to thecryptocurrencythat exploded in 2013. Dubbed theworst currency investmentin 2014, bitcoin has been regarded as an unstable, unsafe currency that is likely to be phased out. However, big names involved in the cryptocurrency’s forward momentum got together this week at the O’Reilly Bitcoin Summit in San Francisco, California and discussed why those claims may not be strictly true.
Related Link:Bitcoin Push Continues Despite Falling Value
Growth Equals Success
Keith Rabois, whose experience in startup leadership ranges fromLinkedIn Corp(NYSE:LNKD) to PayPal, drew a parallel between the rising success of bitcoin and his own experience working at PayPal. At the time the online payment service was planning to go public, Rabbis said, Louisiana regulators claimed that the company was providing banking services without a license.
When user data showed that a significant portion of Louisiana voters were already actively using the service, politicians pushing the issue were unwilling to press further -- a nod to the power of growth among the public. Bitcoin’s growing popularity has seen a similar shift of opinion, especially with the New York Stock Exchange’s investment in Coinbase’s regulated bitcoin exchange. In Rabois’ view, the currency’s widening adoption could make it similarly too big to fail.
Gold 2.0
Rabois isn’t the only one who thinks bitcoin is becoming too big to fail. Wences Casares, the founder of bitcoin wallet and vault Xapo, called bitcoin the “best form of money we’ve ever seen.” He said he sees the currency’s user base expanding to roughly 150 million in the next two or three years, as investors begin to see that the bitcoin is becoming “Gold 2.0.”
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Gets A Makeover: Scandals like the Silk Road trials and the Mt. Gox exchange collapse have severely damaged the public’s perception of bitcoin and slowed the rate of adoption considerably.
Worries about security and stability have kept the average investor from using the cryptocurrency despite growing enthusiasm among supporters about the possibilities that digital currencies provide.
However, some bitcoin-based firms are looking to reverse public opinion by embarking on abitcoin image makeoveraimed at promoting the cryptocurrency among millennials who are most likely to use it.
Bitcoin Targets Millennials
Firms like Bitcoin Foundation, BitFury and BitGo are counting on ad agency TheAudience to rework bitcoin’s image and renew the enthusiasm that surrounded the cryptocurrency in 2013.
The agency is planning to use online influencers to get bitcoin in front of millennials who will ultimately be the future of its adoption.
Platforms like Twitter, YouTube and SnapChat will be vital to the campaign’s success and ‘microcelebrities’ with large followings online will be tapped to promote their own use of bitcoin.
Related Link:Bitcoin And Tax Season - What You Should Know
Bitcoin Bowl
This is not the first time bitcoin has been force-fed to the public. BitPay tried to help the cryptocurrency go mainstream by signing-on to a college football bowl sponsorship and holding the Bitcoin Bowl.
The mobile pay company ran its own TV ads during the game, and while BitPay gained some brand recognition, the campaign did little to wipe away bitcoin’s tarnished reputation.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
BTCTurk 577.97 TL Koinim 590 TL CampBx 252.00 $ BTCe 232.74 $ BitStamp 237.66 $ CEXIO 240 $ #Bitcoin #btc http://bitcoindunyasi.com || $259.00 at 12:15 UTC [24h Range: $251.88 - $267.72 Volume: 12009 BTC] || Bitcoin Price Technical Analysis – Intraday – 19/02/2015; 143.00 Target - Bitcoin Daily Herald #bAgile http://bit.ly/1Et3IVD || In the last 10 mins, there were arb opps spanning 28 exchange pair(s), yielding profits ranging between $0.00 and $854.68 #bitcoin #btc || buysellbitco.in #bitcoin price in INR, Buy : 15427.00 INR Sell : 14934.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || Current price: 239.11€ $BTCEUR $btc #bitcoin 2015-01-09 05:00:02 CET || 2015年2月6日 01:00:10
btc_jpy
直近[last]:26600円
買[bid]:26600円
売[ask]:26900円
高値[high]:27900円
安値[low]:26600円
API by etwings || In the last 10 mins, there were arb opps spanning 23 exchange pair(s), yielding profits ranging between $0.00 and $434.52 #bitcoin #btc || In the last 10 mins, there were arb opps spanning 23 exchange pair(s), yielding profits ranging between $0.00 and $139.22 #bitcoin #btc || In the last 10 mins, there were arb opps spanning 35 exchange pair(s), yielding profits ranging between $0.00 and $963.15 #bitcoin #btc
|
Trend: up || Prices: 275.67, 281.70, 273.09, 276.18, 272.72, 276.26, 274.35, 289.61, 291.76, 296.38
|
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 2016-09-09]
BTC Price: 622.86, BTC RSI: 66.79
Gold Price: 1330.10, Gold RSI: 49.42
Oil Price: 45.88, Oil RSI: 51.25
[Random Sample of News (last 60 days)]
MarilynJean Interactive (MJMI.QB) in Negotiations for Private Placement Financing: HENDERSON, NV / ACCESSWIRE / August 5, 2016 /MarilynJean Interactive (MJMI.QB) today announced it has entered into negotiations for a private placement financing. The success of this financing would allow the company to target a much wider range of potential acquisition targets. By allowing the company to offer both cash and stock as part of its acquisition strategy, the company would have a much wider range of targets to acquire while it builds its digital currency exchange system.
With a market capitalization of over $9 Billion, Bitcoin continues to draw investment capital and talent to the industry. CNN reports that over $1 Billion has been invested in Bitcoin start-ups.
Peter Janosi, MJMI's president said: "The liquidity of our publicly traded shares as a currency for acquisitions will be significantly enhanced by the ability to offer cash as a part of a purchase package. In addition, we hope to raise sufficient funds to expand our existing operations."
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 focussed on bitcoin and the crypto-currency space. The company's trading symbol is MJMI.QB.
Website:www.marilynjean.com
Press Contact:investorcommunica@gmail.com
SOURCE:MarilynJean Media Interactive || 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 (54.8 million pounds) 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) || FOREX-Dollar struggles near 6-week lows, no Fed hike seen soon: * Unconvincing data dims US rate hike prospects, hurts dollar
* Dollar/yen seen heading towards break of 100 yen threshold
* Bitcoin slides after Hong Kong exchange hack
By Jemima Kelly
LONDON, Aug 3 (Reuters) - The dollar inched up but stayed close to six-week lows against a basket of currencies on Wednesday, kept under pressure by the view that the U.S. Federal Reserve will raise interest rates later rather than sooner.
The greenback had been on its best run of weekly gains in 1-1/2 years until last week, when expectations that the Fed would clearly signal a near-term rate hike were disappointed, and U.S. growth data came in much weaker than expected.
The dollar index inched up 0.2 percent on Wednesday but at 95.284 remained close to Tuesday's low of 95.003 and was down 2 percent compared with a week ago, before the Fed's policy statement.
In London, UBS Wealth Management currency strategist Geoffrey Yu said the dollar had been boosted by a risk-off mood in U.S. trading on Tuesday, when indexes suffered their worst day in a month on lower oil prices and lacklustre inflation data. But he said any gains on risk-aversion would be capped.
"We're caught in this kind of trap where every time we get nervous about something, the dollar rallies, but then the next thing to think about is: is the Fed going to react to that by pushing out their rate views?" Yu said. "And then you can't afford to be long dollars that aggressively any more. So that's why we have these turns, quite rapidly."
The dollar was up 0.2 percent at 101.08 yen. It slid 1.5 percent the previous day when it fell to a three-week trough of 100.680, amid some disappointment that a meeting between Japanese Finance Minister Taro Aso and Bank of Japan Governor Haruhiko Kuroda did not result in steps to weaken the yen.
Junichi Ishikawa, currency analyst at IG Securities in Tokyo, said it was a matter of time before the dollar breaks below 100 yen. The dollar briefly slipped below the watershed level in the stormy markets that followed Britain's vote to leave the European Union in June, but it has managed to stay above ever since.
"The break below 100 yen after Brexit was an irregular move. But this time, the yen is gaining steadily on fundamental factors like Japan's improving current account balance and the fading impact of BOJ's multi-dimensional easing," Ishikawa said.
The Japanese central bank eased monetary policy on Friday by upping the amount of its exchange-traded fund purchases, but underwhelmed the markets by holding off from increasing the amount of government bonds its buys every month.
Bitcoin was down around 10 percent compared with 12 hours previously at $543 by 0735 GMT, after a Hong Kong digital currency exchange said it had suspended trading on its exchange after almost 120,000 bitcoin - worth almost $65 million at the current rate - was stolen.
For Reuters new Live Markets blog on European and UK stock markets see reuters://realtime/verb=Open/url=http://emea1.apps.cp.extranet.thomsonreuters.biz/cms/?pageId=livemarkets(Additional reporting by Shinichi Saoshiro in Tokyo) || Aug. 24, 2015 Flash Crash Part Of Wall St. History: August 24, 2015: It's a date that has earned its place in “notable days on Wall Street.” Nearly a year ago today, the S&P 500 dropped as much as 5.3%, capping off a weeklong rout that roiled markets around the world.
While not as devastating as something like Black Monday in 1987―when U.S. stocks dropped 20% in a single session―or when markets reopened after 9/11 on Sept. 17, 2001―the events last Aug. 24were enough to etch that date into the history books.
Fueled by China-related economic fears, the drop in the stock market that day ended a period in which the market was uncharacteristically tranquil. Up until that point, the S&P 500 hadn't seen a correction (unofficially considered a sell-off of 10% or more) in about four years. That was the third-longest such streak in history.
Panic Attack
The drop on Aug. 24 quickly put an end to that, while pushing investors from a state of complacency to panic in one fell swoop.
Chart courtesy ofStockCharts.com
In the ETF world, the panic was especially palpable. Dozens of exchange-traded funds briefly tradedwell below the valueof their underlying assets that day, fueling criticism that regulators and the industry weren't doing enough to protect investors.
Today, nearly a year after the Aug. 24 plunge, investors can now take a step back and look at the bigger picture. What, if anything, has changed since that tumultuous day―both on a macro level and in terms of the ETF industry?
China Still A Wild Card
The correction of August 2015 was the first of two major stock market sell-offs that were spurred on by events in China (the other was this past January:Investors Flood Safe Haven ETFs).
At the time, the prevailing narrative was that China's economy was in a free fall, and that a 1997-style Asian financial crisis was imminent. A year later, it's clear that those fears were unfounded. There has yet to be any financial or economic shock in China, and the country is seldom mentioned in the top financial headlines today.
But while a crisis has yet to hit, there are many open questions regarding the state of China's economy. The Chinese government took a number of measures―including banning short-selling in the country's stock market, halting the trading of more than 1,000 stocks and cutting interest rates six times in a year―to stabilize the situation.
Doubtable Data
Yet even with those measures, China's economy continues to slow, and perhaps more dramatically than the official figures indicate. Many analysts question the veracity of the economic data that comes out of the country, which is troubling for investors.
Hedge fund managers Kyle Bass, Paul Singer and others believe that it's only a matter of time before China faces a severe downturn that will be worse than the U.S. financial crisis. Others envision a rosier "soft landing" scenario for the world's second-largest economy.
In any case, the outlook for China is no clearer today than it was a year ago, despite the recovery in global stock markets.
ETFs Had A Bad DayMeanwhile, the other big story from Aug. 24, 2015—the "mini flash crash" in ETFs—didn't do much, if anything, to derail the exchange-traded fund industry. U.S.-listed ETF assets are at record highs—above $2.4 trillion—and the investment vehicle continuesto flourish at the expense of mutual funds.
Nevertheless, there is a bit of trepidation that another flash crash could hit ETFs again down the line. On Aug. 24, 2015, many ETFs―including those with billions of dollars in assets such as theGuggenheim S&P 500 Equal Weight ETF (RSP)and theiShares Select Dividend ETF (DVY)―fell significantly below their net asset values during the first hour of trading.
Dave Nadig, director of ETFs for FactSet, wrote shortly after the event that a combination of "market makers stepping away" and high-frequency trading may havecontributed to the unusual price actionthat day.
Has anything been done to prevent this situation from unfolding again in the future?
According to Nadig, change may be coming, but probably not from regulators.
Regulatory Gridlock Persists
"In terms of actual regulatory change, not much has changed since August 24th last year," he told ETF.com. "Senate recalcitrance means the SEC is operating two commissioners down (5 of 7) and the CFTC is effectively stalled from doing any meaningful work (down to 3 of 5)," he said.
Instead, it looks like change may be coming from exchanges, according to Nadig: "Several folks signed a letter to the SEC (myself included) asking for some common sense reforms on how markets open, halt and re-open, and the exchanges have taken it a step further."
"Material improvements to the opening process after halts have already been implemented," said Bryan Harkins, EVP and head of U.S. Markets for Bats Global Markets, the largest exchange for ETF trading by market volume, and owner of ETF.com.
"In addition, exchanges have individually, and collectively, made a number of changes around the start of the day—including revising the limit up limit down (LULD) reference price—to ensure a smoother open. As a result, we’ve seen a marked reduction in the number of LULD pauses,” he added.
While it's impossible to rule out another flash crash and extreme price volatility, Harkins says the U.S. market structure is "materially stronger" as a result of the changes made in the past year.
(For more, read:Exchanges Propose New Unified Trading Rules)
Contact Sumit Roy atsroy@etf.com.
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Permalink| © Copyright 2016ETF.com.All rights reserved || Bitcoin Plunges, Hong Kong Exchange Says Millions Stolen in Hacking: DailyFX.com -
Talking Points:
• Bitcoin extends fall as news of an exchange hack reignited cybersecurity fears with cryptocurrencies
• Chinese Bitcoin exchange halts trading to investigate hack resulting in $65 Million in losses
• Bitcoin prices rebound on open exchanges following the hack, only one exchange was effected
Having trouble trading Foreign Exchange? Thismay be why.
Bitcoin suffered one of its worst declines in years through the open of this week. News that trading was halted on “Bitfinex” exchange after a hack resulting in $65 million theft unnerved traders. Bitcoin fell a little over 24 percent through Tuesday’s low following the announcement of the hack. Bitfinex remains closed, howeverforthough open exchanges the Bitcoin-USD pair (BTC/USD) rallied by more than 20 percent from lows through Wednesday. The hacked exchange is expected to remain closed for the next few days as investigations continue to uncover more information. Volume in BTC/USD trading spiked significantly through the decline and on the news of the hack. Average volume on for the cryptocurrency pair on the Bitstamp exchange rose to more than 22,000 on Tuesday and over 15,000 Wednesday – the 20-day average before these large movements was a comparatively restrained 4,400.
Cybersecurity remains a chief concern for the cryptocurrency and its numerous exchanges worldwide, as it is traded and used entirely over a network.The recent hack on the Hong Kong exchange is not the first. The largest bitcoin exchange in the world “Mt. Gox”, filed for bankruptcy in 2014 and admitted to being hacked, resulting in the loss of $460 Million in bitcoin. The cryptocurrency has become extremely popular since it was first introduced 7 years ago, to better understand its role in the financial markets check out DailyFX’sForex Trading Instructor Tyler Yell piece onBitcoin.
original source
DailyFXprovides 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 fromFXCM. || 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 || Bitcoin worth $72 million stolen from Bitfinex exchange in Hong Kong: By Clare Baldwin HONG KONG (Reuters) - Nearly 120,000 units of digital currency bitcoin worth about US$72 million was stolen from the exchange platform Bitfinex in Hong Kong, rattling the global bitcoin community in the second-biggest security breach ever of such an exchange. Bitfinex is the world's largest dollar-based exchange for bitcoin, and is known in the digital currency community for having deep liquidity in the U.S. dollar/bitcoin currency pair. Zane Tackett, Director of Community & Product Development for Bitfinex, told Reuters on Wednesday that 119,756 bitcoin had been stolen from users' accounts and that the exchange had not yet decided how to address customer losses. "The bitcoin was stolen from users' segregated wallets," he said. The company said it had reported the theft to law enforcement and was cooperating with top blockchain analytic companies to track the stolen coins. Last year, Bitfinex announced a tie-up with Palo Alto-based BitGo, which uses multiple-signature security to store user deposits online, allowing for faster withdrawals. "Our investigation has found no evidence of a breach to any BitGo servers," BitGo said in a Tweet. "With users' funds secured using multi-signature technology in partnership with BitGo, a lot more is at stake for the backbone of the bitcoin industry, with its stalwarts and prided tech under fire," said Charles Hayter, chief executive and founder of digital currency website CryptoCompare. The security breach comes two months after Bitfinex was ordered to pay a $75,000 fine by the U.S. Commodity and Futures Trading Commission in part for offering illegal off-exchange financed commodity transactions in bitcoin and other digital currencies. BITCOIN SLUMP Tuesday's breach triggered a slump in bitcoin prices and was reminiscent of events that led to the 2014 collapse of Tokyo-based exchange Mt Gox, which said it had lost about $500 million worth of customers' Bitcoins in a hacking attack. Bitcoin plunged just over 23 percent on Tuesday after the news broke. On Wednesday it was up 1 percent at $545.20 on the BitStamp platform. Tackett added that the breach did not "expose any weaknesses in the security of a blockchain", the technology that generates and processes bitcoin, a web-based "cryptocurrency" that can move across the globe anonymously without the need for a central authority. A bitcoin expert said the scandal highlighted the risks of companies using cryptography for their ledgers. "The more you rely on its benefits, the greater the potential for damage when keys are stolen. We still have some way to go to create highly secure but convenient systems," said Singapore-based Antony Lewis. The volume of bitcoin stolen amounts to about 0.75 percent of all bitcoin in circulation. It is not yet clear whether the theft was an inside job or whether hackers were able to gain access to the system externally. On an online forum, Bitfinex's Tackett said he was "nearly 100 percent certain" it was no one in the company. Bitfinex suspended trading on Tuesday after it discovered the breach. It said on its website that it was investigating and cooperating with the authorities. The security breach is the latest scandal to hit Hong Kong's bitcoin market after MyCoin became embroiled in a scam last year that media estimated could have duped investors of up to $387 million. The bitcoin trading company closed after the scandal. The president of the Hong Kong Bitcoin Association said the only way to protect information is to disperse it in so many small pieces that the reward for hacking is too small. "For an attacker, the cost-benefit strategy is quite easy: How much is in the pot and how likely is it that I'm getting the pot?" said Leonhard Weese. (Additional reporting by Hera Poon in HONG KONG, Jeremy Wagstaff in SINGAPORE and Jemima Kelly in LONDON; Editing by Will Waterman) || The fintech ecosystem explained: FintechShapingtheFuture (Shutterstock) We’ve entered the most profound era of change for financial services companies since the 1970s brought us index mutual funds, discount brokers and ATMs. No firm is immune from the coming disruption and every company must have a strategy to harness the powerful advantages of the new financial technology (“fintech”) revolution. The battle already underway 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 briefing 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: Story continues 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 this new report, titled 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: BEST VALUE : Join our BI Intelligence INSIGHTS service level and gain immediate access to this report PLUS 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 UK digital bank Mondo lays out plan to get full banking license Goldman Sachs' online bank gains momentum THE REGTECH REPORT: Global regulatory requirements are creating a huge opportunity for regtech firms || Blockchain could be 'revolutionary' to this $2 trillion problem: HSBC: Blockchain could be "revolutionary" to international trade and commerce, HSBC(London Stock Exchange: HSBA-GB)has told CNBC, after the bank unveiled a partnership with Bank of America Merrill Lynch(NYSE: BAC)to trial the technology.
Blockchain was developed alongside the digital cryptocurrencybitcoin. It works like a huge, decentralized ledger which records every transaction and stores this information on a global network to prevent tampering. Bitcoin, itself, is a virtual currency that allows users to exchange online credits for goods and service
But several organizations have looked into alternative applications for the blockchain, away from the digital currency. Bank of America Merrill Lynch and HSBC published a proof of concept last week showing how blockchain could be used to efficiently complete a trade deal.
"Over $2 trillion of trade today depends on the physical exchange of documents," Vivek Ramachandran, global head of product and propositions for global trade and receivables finance at HSBC, told CNBC Tuesday.
"What we've shown is blockchain has the potential to take away paper, which could be completely revolutionary if commercialised."
According to Ramachandran, blockchain technology could serve as a trustworthy intermediary to share information between buyers and sellers. This would make international trading quicker and cheaper.
"(Blockchain) makes the system much more efficient," he explained. "It's expensive to adopt it, but the upside is huge."
Companies are making a big bet on blockchain technology. A study by Juniper Research published this week found that $290 million of venture capital has been invested in blockchain tech in the first half of 2016, with more than 30 blockchain start-ups receiving funding.
However, the report urges investors and businesses to be cautious in regards to blockchain.
"While blockchain technology offers the potential for increased speed, transparency and security across an array of verticals, there has to be rigorous and robust roadtesting in each unique use case before any decision is taken," research author Windsor Holden said in a press release on Tuesday.
Follow CNBC International onTwitterandFacebook. || 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)
[Random Sample of Social Media Buzz (last 60 days)]
$ 0.004632 (-0.13 %) 0.00000699 BTC (-0.00 %) #WHIPPED #FETISH #BDSM || #EuropeCoin #ERC $ 0.030373 (0.14 %) 0.00005281 BTC (0.00 %) || #Bitcoin last trade
@bitfinex $663.90
@btcecom $649.00
Set #crypto #price #alerts at http://AlertCo.in || GDAX Users Can Now Trade Litecoin Against USD and Bitcoin: Although it had been a rumour for quite s... http://bit.ly/2bgjTkY #Bitcoin || One Bitcoin now worth $654.00@bitstamp. High $656.62. Low $646.31. Market Cap $10.320 Billion #bitcoin pic.twitter.com/kiYIi90JZg || 1 KOBO = 0.00000762 BTC
= 0.0051 USD
= 1.4418 NGN
= 0.0734 ZAR
= 0.5160 KES
#Kobocoin 2016-07-13 10:00 pic.twitter.com/5i633DLPzr || 1 #BTC (#Bitcoin) quotes:
$571.94/$572.97 #Bitstamp
$577.00/$577.00 #BTCe
⇢$4.03/$5.06
$568.81/$574.69 #Coinbase
⇢$-4.16/$2.75 || #ChainCoin #CHC $ 0.000265 (3.36 %) 0.00000045 BTC (-0.00 %) || #STV 0.00000620 BTC(0.00 %) | Market Cap 44 BTC | Volume(24h) 0.00 BTC | Available Supply 7,070,335 STV || Current price of Bitcoin is $663.00.
|
Trend: down || Prices: 623.51, 606.72, 608.24, 609.24, 610.68, 607.16, 606.97, 605.98, 609.87, 609.23
|
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)]
Europe Will Ban All Roaming Charges in Exactly Two Years: The European Union has come to an agreement with networks to abolish roaming charges by June 2017. The agreement is only a preliminary stage, and it still needs approval from other EU governments and the European Parliament before it can be signed in as law, but this process is expected to go ahead without any issues. Once the new law is in place, phone users traveling between any of the EU’s 28 countries will pay the same amount of money for calls and data as they would at home. Prior to June 2017, EU roaming charges will be capped at 0.05 euros per minute and per megabyte from April 2016. That’s down from 0.19 and 0.20 euros at the moment. Related: UK national roaming could eliminate reception blackspots A fair use policy can still be adopted by networks, meaning it’ll be impossible to register and pay for a phone in a country where you don’t live, then use it at home to potentially save money. There’s also a clause that networks will be able to ‘impose minimal surcharges,’ if it can be proved the new system threatens to raise prices on domestic contracts and services. In addition to the roaming charge alterations, the European Parliament has also looked at net neutrality, and agreed that networks must treat all Internet traffic equally. However, it’s not without exceptions. For example, networks can make agreements that ensure a minimum Internet quality for special services — meaning those that require higher bandwidth — provided it doesn’t impact normal Internet use for others. Also, networks could restrict or block Internet traffic to protect against cyber-attacks, or manage speeds due to ‘exceptional congestion.’ The wording has caused concern among critics , due to its contradictory nature, but it’s clearly stated that networks cannot throttle or block traffic for particular services, or ‘for commercial reasons.’ The EU has been working on the creation of a “Digital Single Market” for several years, and although the abolishment of roaming charges is good news, it was expected in the past, yet is still two years away from coming into effect. Online payments halted in Greece, citizens eye Bitcoin to protect savings German parliament may limit intelligence agency communications with the NSA Uber goes on offensive in Europe, files complaints against authorities || 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. Story continues 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 environment on 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.com has 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 +45-36-98-11-50 ronny@ccedk.com Tyttebærvej 6, Hune, DK-9492 Blokhus Denmark SOURCE : CCEDK.com || The MENA Startup Ecosystem: Problems And (Potential) Solutions: Hala Fadel, Chair of the MIT Enterprise Forum for the Pan Arab Region , opened the 8th MIT Pan Arab Conference in Kuwait by emphasizing the need for Arab entrepreneurs to protect the innovation of the present from the fear of past generations. While a growing number of young entrepreneurs in the Arab world have started to disrupt traditional markets with innovative ideas, they are still being met with great resistance from traditionalists. In a region that prides itself on preserving its cultural authenticity, the Arab entrepreneur is forced to fight two battles. The first battle is assuaging the fears of Arab communities around innovative entrepreneurship, and second, establishing and monetizing unconventional business models in existing MENA ecosystems . While these challenges may seem daunting, many young Arabs are plunging forward because they recognize that there is a gap in our various market sectors and they want to see it change. Five startups from the 8th MIT Arab Conference, from across the Arab world, discuss the biggest obstacles that young Arab entrepreneurs face in their ecosystems. 1. Fear Of Small Ecosystems Khalid Abujassoum, Tahi Technologies Inc. Image credit: Tahi Technologies Inc. Khalid Abujassoum, co-founder & CEO, Tahi Technologies Inc. [Qatar] Do you think that there is a fear of investing in the small startup ecosystems in the Gulf? “There is, and I think it’s natural due to the history of business in this region and how the economy has evolved. In the Gulf, the major business contributors to the economy were traders and merchants, so the whole technology entrepreneurship realm is new, and as the old saying goes, ‘A person is an enemy to whatever they ignore.’ Such fear is natural and understood. We need to ensure that all stakeholders in the ecosystem including entrepreneurs, investors, policymakers, incubators etc. are playing their roles correctly. An entrepreneur should have the tenacity to listen, learn and grow . A policymaker should engage stakeholders to understand their needs and incorporate them in the policy making process. The same applies to investors and other players in the ecosystem. By working together, all these stakeholders can build a strong and trustworthy ecosystem for everyone. There is no one hero that will make it work, I believe that it is our collective responsibility to build and strengthen Arab startup ecosystems.” Story continues 2. Fear Of Investing Amine Toumi and Salim El Jaï (on right), Yuzu. Image credit: Yuzu. Amine Toumi, Project Manager, Yuzu [Morocco] Do you think that there is a fear of investing in startups in Morocco and North Africa? “When I started Yuzu with my team, we didn’t find any investors or funds to help support or accelerate the development of our startup. I don’t know what the real problem is- is it a lack of information about startups in the region, the legitimacy of our project or simply the lack of investors? While the Moroccan startup scene is still very young and lagging behind some countries in the Arab region, it’s slowly catching up. At Yuzu, we understand that fear is an investor’s natural state of being, whereas courage is an entrepreneur’s natural way of life. In order to increase investment in the North African startup ecosystem, we have to find the crossroads where these two stakeholders can meet . Firstly, we have to be willing to admit that startup success is hardly predictable. On the other hand, we must fight to nurture and invest in entrepreneurship, because startups will build the future of countries and people across North Africa and the Arab world. If we make it a priority, we can encourage decision-makers to take more risks, thus ensuring that more investments and resources are available for entrepreneurs to go on dreaming of a better world.” 3. Fear Of Complicated Financial Systems David Al Achkar, Yellow. Image credit: Yellow. David Al Achkar, Founder, Yellow [UAE] Do you think that there is a fear of investing in the Arab world, because of their existing financial systems? “I see the main financial problems in the region as being ones of fragmentation, high cost, and high complexity. Whether you’re a startup or an established business, few options, besides standard wires and credit cards, exist that cover the region as a whole and the latter still has a low penetration. Most available options, however local, are still on average more expensive than abroad. And finally, in many cases, getting set up to accept or send payments is a complicated, lengthy, and costly process , which is a recurring setback for most startups in the region. The approach we’ve decided to follow at Yellow is the transition from traditional payment methods to the cutting-edge of financial technology, i.e., Bitcoin. We believe that in the midterm, the innovation brought forward by Bitcoin, which is faster, cheaper, global payments, has the potential to bring the Arab region to the forefront of payments, thus effectively leapfrogging many intermediaries, and in most cases, only incrementally better payments solutions.” 4. Fear Of Investing In New Ideas Samer Tarazi, RedTroops. Image credit: RedTroops. Samer Tarazi, founder and CEO, RedTroops [Jordan] Do you think that there is a fear of investing in Arab tech startups in Jordan and the MENA region? “I wouldn’t say there is fear, I would say there’s an immature attitude towards tech startups in the region. We don’t have highly experienced investors who are truly visionaries. Unfortunately, most investors tend to follow rather than lead, either by following another investor or investing in an Arabic version of a business model that has already been proven abroad. When you’re working on a disruptive technology or trying to build something that hasn’t really been done in the Arab world before, this mentality makes it extremely difficult to raise the funds needed to keep a startup going. Nurturing the maturity of both founders and investors in the region will help, because we currently lack people who really understand what a startup is and how to scale quickly on both ends. While I’m sure that Arab ecosystems will mature with experience in time, I still believe we suffer in the region because the market itself is still lagging and it’s definitely lacking in terms of early adoption.” 5. Fear Of Lacking Intellectual Property Protection Mohammad Gamal, Kotobna. Image credit: Kotobna. Mohammad Gamal, founder, Kotobna [Egypt] Do you think that there is a fear of starting a startup in the Arab world because of the weak intellectual property laws in Egypt and the rest of the MENA region? “Yes, there is a fear, but there shouldn’t be, because firstly, innovative young, business leaders should find solutions for the problems of intellectual property (IP) protection. Secondly, they should create new localized business models that understand target market’s needs, their social environments and their motives for breaking IP law. By creating relevant and innovative solutions to real problem in the market, young entrepreneurs will find new and efficient ways of providing and capturing value in Arab markets. A very good example of such a ‘market hack’ is Abjjad, a social network for books based in Jordan, which offers Arab readers e-books for free. The Abjjad team make revenue from the Google Ads that are embedded in the pages of each book. As entrepreneurs, especially in the Arab world, we must strive to understand our customers’ needs and their social environment. Regardless of where you are or what the startup ecosystem is like, it is the responsibility of an entrepreneur to reinvent their business model until they can find one that serves their customers. I also believe that it is our responsibility as entrepreneurs to educate our target audience about the benefits of protecting IP by creating multi-sided platforms here, content providers with content consumers in a secure, beneficial way for both parties- that’s exactly what we’re doing at Kotobna. We are linking young Arab authors with Arab readers who are interested in e-books. On the Kotobna platform, books are encrypted and secured and offered to readers at very competitive rates, with very easy and accessible payment methods.” || What to Watch in the Week Ahead and on Monday, July 13: (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) WEEK AHEAD The stock market this quarter doesn't get its usual one-week on-ramp to earnings season, instead getting hit with JPMorgan, Wells Fargo, Intel, Netflix, Google, General Electric Co and Honeywell, all in one week. Add in the political yelling that has become the semi-annual Federal Reserve Chair Janet Yellen's testimony and the ongoing craziness that is Greece's potential exit from the euro zone - to say nothing of China's turmoil - and it should be a lively week for markets, and one that will likely see a lot of volatility. Euro zone finance ministers may make a "major decision" when they hold a special meeting on Saturday to weigh a new Greek proposal for emergency funding. The ministers' conclusions will be reviewed by euro zone leaders at a summit called for on Sunday. Fed Chair Janet Yellen delivers semi-annual testimony on monetary policy before the House Financial Services Committee in Washington on Wednesday and Thursday. The July hearing has more drama heading into it than the February testimonies. For one, Yellen starts this time with the House, where she ended last time, after trading some testy exchanges with Republican congressmen. This week's congressional appearance also comes as the Fed appears closer to raising interest rates for the first time since 2006. Yellen's appearance comes just a few weeks after the Fed's last Federal Open Market Committee meeting, and two weeks before its next one - so Yellen will be unlikely to drop too many policy hints and changes in this round or testimony, unless she wants to point the market harder to September lift-off. Dow components Johnson & Johnson, General Electric Co, JP Morgan Chase & Co, Intel Corp, Goldman Sachs Group Inc and UnitedHealth Group Inc are scheduled to report quarterly results in the coming week. Johnson & Johnson is expected to report on Tuesday lower second-quarter sales and earnings as weak revenue from medical devices and consumer products and a stronger dollar more than offset the benefit of surging sales of its newer prescription medicines. The same day, JPMorgan Chase & Co releases second-quarter results. Separately, Goldman Sachs is expected to report lower second-quarter profit on Thursday. Intel Corp is expected to report second-quarter revenue and profit below analysts' expectations on Wednesday, according to Thomson Reuters StarMine. General Electric reports second-quarter earnings on Friday, with Wall Street eyeing updates on the U.S. conglomerate's desired portfolio moves as it seeks to become a more focused industrial company. UnitedHealth Group Inc will report second-quarter earnings on Thursday. The quarter is expected to be a strong one for UnitedHealth, whose technology and pharmacy management business has helped it report regular growth in quarterly operating profit. Story continues Google Inc, the operator of the world's No. 1 Internet search engine, is scheduled to post second-quarter results on Thursday. The company is expected to report quarterly revenue slightly below analysts' estimates, according to Thomson Reuters StarMine data, hurt by the impact of a stronger dollar. Google, which generates about half of its revenue outside the United States, has also faced challenges in mobile advertising and it is investing heavily in new businesses. Citigroup Inc reports second-quarter results on Thursday. The most international of banks based in the United States is expected to see quarterly profits rebound sharply from a year earlier, when net income was all but obliterated by high legal and restructuring costs. Separately, Wells Fargo & Co will also report second-quarter results on Tuesday. The bank's mortgage banking business is expected to do well during the quarter as more people buy new homes in an improving economy. On Wednesday, Bank of America Corp is expected to report an increase in its second-quarter profit. The bank's results from fixed-income trading are expected to lag those of competitors because it is more heavily weighted toward trading credit instruments such as corporate bonds and it handles relatively fewer interest rate-sensitive government securities, Chief Financial Officer Bruce Thompson warned investors in June. The U.S. Labor Department releases its Consumer Price Index for June on Friday. The index is expected to have risen at a slower pace than in the previous month. Separately, the department will issue on Wednesday its June producer price index for final demand. On the same day, the Federal Reserve releases data for June industrial output, which is expected to have risen 0.2 percent after falling 0.2 percent in May. Meanwhile, the Commerce Department issues June retail sales data on Tuesday. Economists expect retail sales, which surged 1.2 percent in May, to have risen just 0.3 percent in June. On Friday, the University of Michigan's preliminary reading on its overall index on consumer sentiment for July is expected to come at 96.0 compared with a final reading of 96.1 for the previous month. Also, the Federal Reserve issues its so-called Beige Book on Wednesday. Federal Reserve Bank of Kansas City President Esther George speaks on economic conditions and monetary policy before the Federal Reserve Bank of Kansas City 2015 Agricultural Symposium in Kansas City, Missouri, on Tuesday. On Wednesday, Federal Reserve Bank of Cleveland President Loretta Mester speaks on the economic outlook and participates in live interview before the Columbus Metropolitan Club Forum in Columbus, Ohio. The same day, the Federal Reserve Bank of San Francisco President John Williams will speak on the economic outlook before the Mesa Chamber of Commerce in Mesa, Arizona and in another event, he will also give a brief summary on the economy before a Greater Phoenix Economic Council panel on economic trends in Phoenix, Arizona. On Thursday, e-commerce company eBay Inc is expected to report second-quarter revenue below expectations, according to some analysts. Revenue from the company's marketplace business, which includes its e-commerce platform ebay.com, fell last quarter, hurt by increasing competition from rivals such as Amazon.com and changes in Google's search algorithms. Investors will be looking for signs of a turnaround at eBay's marketplace business. They will also look for any commentary from the company regarding post-spinoff valuation of the marketplace business. Schlumberger Ltd, the world's No.1 oilfield services provider, is expected to report a fall in second-quarter profit on Thursday as lower oil prices weigh on global drilling activity. Schlumberger, which has cut 20,000 jobs this year, has swiftly controlled costs to maintain margins in a weak commodity market. With oil prices staying around $50 per barrel, a handful of optimistic shale producers are looking to deploy more rigs. Investors will also look for comments on pricing and expectations for industry spending in the second half of the year. Another topic of interest this quarter is the company's pending deal with Russia's Eurasia Drilling. BlackRock Inc, the world's largest asset manager, will report second-quarter results on Wednesday. Investors will await Chief Executive Larry Fink's comments on the results, the markets, Greece and China, among other issues. Charles Schwab Corp will report its second-quarter results on Thursday. Analysts expect the company's profit to rise to 24 cents per share from 23 cents a year earlier, helped by higher fees for advisory accounts and slightly higher trading commissions. But the big revenue bonus that Schwab expects from investing cash it will get in its clients account once rates rise remains evasive, amid signs that the Federal Reserve may again delay rate hikes. Delta Air Lines Inc is expected to post second-quarter results in line with analysts' expectations on Wednesday. However, investors will want to know how the airline plans to respond to falling demand abroad due to a stronger dollar, a regulatory investigation into U.S. airlines' capacity plans and pilots' decision to reject management's proposal for a new contract. Yum Brands reports second-quarter results on Tuesday. Yum's China business remains in the spotlight as it fights to recover from a food scandal in its biggest market for profit. Analysts say that the company is suffering from "brand fatigue" in China, where competition is mounting and its image has been hurt by food scares that have raised doubts over its supply chain. The KFC, Pizza Hut and Taco Bell chain owner said it expected another tough quarter before a recovery in China, but this recovery could be pushed further as consumers cut back on discretionary spending amid an economic slowdown and fears stemming from the sharp decline in the Chinese stock market over the past few weeks. Investors will be looking for outlook and commentary on the impact from recent developments in China. Profit and sales are expected to beat a generally low bar for second-quarter estimates, according to Thomson Reuters StarMine. Netflix Inc, a TV and movie streaming service provider, is scheduled to post second-quarter results on Wednesday. The company is expected to report quarterly revenue above estimates, according to analysts, as it is expected to sign up more video streaming subscribers than previously expected. The cost of driving subscriber growth has been high as Netflix continues to invest heavily in international markets, but it is yet to see any profits from outside the United States. Kinder Morgan Inc, the leading U.S. pipeline company, is expected to report a lower second-quarter profit on Wednesday, but the focus this quarter will be on the company's reorganization. Kinder Morgan shed its tax-advantaged master limited partnership structure last August by folding its units into one publicly traded corporation in a $70-billion deal. Investors will see if the new structure will help allay concerns about the company's growth prospects and complicated financial structure. The company has said the reorganization would help it grow its dividend by about 10 percent a year and clock bigger income tax savings. Domino's Pizza Inc reports second-quarter results on Thursday. The second-largest U.S. pizza chain is expected to report revenue below the average analyst estimate, according to Thomson Reuters StarMine. Chief Executive Patrick Doyle has said the company would need to raise minimum wage to stay competitive following McDonald's announcement of wage hikes in April. Investors will look out for any related announcement and updates on commodity costs, which the company said are likely to come down after cheese prices soared last year. On Thursday, chipmaker Advanced Micro Devices Inc is expected to report second-quarter earnings below the average analyst estimate, according to Thomson Reuters StarMine data. The company lowered its revenue estimate for the second quarter on Monday, citing weaker-than-expected demand for personal computers. All eyes will be on weak PC sales and whether the company can mitigate some of the impact with cost cuts. Barbie doll and Fisher-Price toys maker Mattel Inc is expected to report on Thursday second-quarter revenue above the average analyst estimate, according to Thomson Reuters StarMine. The company will report its first quarter under new Chief Executive Christopher Sinclair, who took the top post in April. Sinclair has said Mattel needs to move urgently to create toys that connect with young customers in the face of flagging Barbie sales. Investors will look for announcements from Sinclair, a former Pepsi executive, on how he plans to turn around Mattel and make it more competitive, and any updates on the company's preparations for the holiday season. Honeywell International Inc, a major manufacturer of aircraft electronics and climate control systems, is expected to report second-quarter results below analysts' expectations on Friday, according to Thomson Reuters StarMine. Honeywell said in April that it expected a stronger dollar to hurt revenue by 4-6 percent in the quarter ended June. Investors will be looking for updated comments on how Honeywell expects the dollar to affect business in the full year. The initial public offering of the U.S. deep discount retailer Ollie's Bargain Outlet Holdings Inc is scheduled for Thursday. Ollie's Bargain operates 181 stores across the United States, selling excess inventory and salvage merchandise such as houseware, sporting goods and toys from manufacturers who make too much of an item or change their packaging. Ollie's net income rose 38 percent to $27 million in fiscal 2014, while revenue increased 18 percent to $638 million. Bank of Canada announces its rate decision on Wednesday and Governor Stephen Poloz holds a news conference upon the release of the Monetary Policy Report. A series of weak economic data suggesting Canada may already be in recession has prompted a growing minority of economists to predict the central bank may cut rates again, possibly as soon as next week, a Reuters poll has found. Chile's central bank meets on Tuesday to set the interest rate. The central bank is expected to keep its benchmark interest rate on hold at its current 3.0 percent through the following 11 months, scaling back expectations, according to the median response of 61 analysts and economists surveyed by the bank in a poll. Also, Argentina is due to release June consumer inflation data on Wednesday. ON MONDAY, JULY 13 Treasury Department issues a monthly budget report for June. The department is expected to post a budget surplus of $51.0 billion in June compared with a $82.4 billion deficit reported in May. (1400/1800) The United Auto Workers (UAW) union and General Motors Co hold the ceremonial handshake between union president Dennis Williams and company CEO Mary Barra to mark the start of labor negotiations for a new four-year contract for about 51,000 workers. The union has lost power but it can still upset GM's quest to keep labor costs low enough to compete with Japanese, Korean and German automakers with U.S. plants. UAW leaders will bargain with Fiat Chrysler Automobiles and Ford Motor Co later in the week. LIVECHAT - BITCOIN BITES with Anatoliy Knyazev, managing partner, Exante With Greek worries contributing to Bitcoin's best run in 18 months and the crypto currency even touted as a possible parallel currency in the Hellenic Republic, has the controversial payment system's time come? We chat with Anatoliy Knyazev, managing partner at Malta-based brokerage Exante, which previously debuted the world's first Bitcoin-only fund. (0500/0900) To join the Global Markets Forum, click here http://bit.ly/1kTxdKD (Compiled by Nivedita Balu in Bengaluru; Editing by Kirti Pandey) || C&W Unveils the 'New' Flow and Creates History in Barbados: BRIDGETOWN, BARBADOS--(Marketwired - Jul 16, 2015) - Telecoms history was made in Barbados today as Cable & Wireless Communications (C&W) officially launched its retail brand, Flow, for its newly combined consumer group. The 'new' Flow will deliver a compelling set of quad play products and services via its Fibre to the Home (FTTH) infrastructure set to reach 100% of Barbados homes by year end. This will make Barbados the first country in the world to have 100% FTTH coverage.
"We are pleased to usher in a new culture of innovation and technical excellence, backed by major investments in our Fibre to the Home infrastructure," said John Reid, President of C&W Consumer Group. With our combined strengths, Barbados consumers will have access to the most technologically advanced quad play products in the region, through our mobile, video, landline and broadband services.
Reid also said that the foundation of the new Flow brand strategy was consistent with the positive characteristics of the Caribbean. "We are driven by all that is positive in the Caribbean," he said. "The people, the passion, and the drive to succeed. Against that backdrop, we commit to continue our focus on innovation, technical excellence and great customer service."
Flow also unveiled plans to become #1 for customer experience in Barbados and the region. According to Niall Sheehy, the Country Manager for Flow Barbados, "Flow will realise this bold vision by making significant changes across our operations to drive an outstanding customer experience, which will extend beyond the obvious frontline transactions." Sheehy said that, "In all departments and in each role the goal will be to put the customer first in every aspect of our business."
The 'unveil' of the new brand, follows the announcement in March by C&W to merge its operations with Columbus International. C&W will follow this inaugural launch throughout the Caribbean on a phased, country-by-country basis over the next twelve months.
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 $2.4 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, CWC 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, 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 7,500 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; TV 430k and Broadband 650k) 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:http://www.cwc.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 atwww.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 Corp838 West Hastings Street, Suite 300Vancouver, BC V6C-0A6CanadaTel: +1(604) 200-0071Fax: +1(604) 200-0072www.bitxfin.com
Media inquiries:
Bit-X Financial Corppress@bitxfin.com
SOURCE:Bit-X Financial Corp || 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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• Personal Finance || Peak Venture Group Adopts the BitShares Network: Peak Venture Group has announced the adoption of the BitShares 2.0 platform to integrate into their existing business LAS VEGAS, NV / ACCESSWIRE / July 1, 2015 / " We're always looking for game-changing opportunities," smiled Steve Tiffany, CEO of Peak Venture Group. "BitShares has the potential to supercharge most of our existing businesses and revolutionize everything about how we start new ones." The Las Vegas based startup incubator has big ambitions that leverage remarkable synergies in the crypto currency, ATMs, remittance, video gaming, and network marketing industries. "BitShares turns out to be the missing catalyst needed to stimulate viral growth across our whole portfolio," said Tiffany. Mr. Tiffany went on to discuss his reasoning for the adoption. "Our original killer concept was to bring together a network of merchants and affiliate marketers by helping them to connect with each other in a double-sided marketplace. Merchants are always looking for ways to sell their products and affiliates are always looking for lucrative new things to sell. We put together a system that helps them find each other. We already have over 17,000 members on our video game site and 8500 marketers in our affiliate system the first year. Whoosh!" "Then one of those affiliates introduced us to BitShares," said Tiffany, shaking his head. "I thought it was just going to be a way to maybe make commission payments within our network a bit more automatic and trust-free. But after talking with BitShares Founder Dan Larimer, I realized his brainchild was going to change everything we do!" "What exactly is it that we do?" "We provide specialized training for an affiliate marketing force and broker connections to all kinds of products they'll find easy to sell. Then we go looking for startup companies with ideas worth investing in, and hand them a marketing outlet on a silver platter! Most startups focus on their products and services, leaving marketing as an afterthought. We deliberately invest knowing that we can add a powerful engine for customer acquisition on Day One. We look for startups that fit into that model, and then harness our marketing horsepower to their front end." Story continues "Take for instance the market we put together for the gaming industry," he said. "And I'm not talking gambling or anything like that. When we say gaming, we're referring to the video game community. One aspect I'm talking about is the Massively Multi-Player Online Role Playing Games (MMORPG) - video games in which a very large number of players interact within a virtual game realm. It's a $65B industry world wide!" "We created two symbiotic companies. Our gaming eCommerce store is one-stop shop for everything to do with video games, including ACME laser swords, valuable game items, rare related merchandise, gold, you name it. Then our affiliate program teaches gamers how to do their own viral network marketing of everything that we sell while preserving the gaming atmosphere for our affiliates to keep the fun intact. We motivate the industry's most passionate expert gamers to become its most productive marketers. They wind up building their own game and financial empire at the same time! And we do so by seamlessly integrating real world and game world currencies and empires." "You can see how this led us naturally to crypto currencies, and ultimately to BitShares," he traced a finger from dot to dot, as if the connection was obvious. Tiffany further explained, We needed a way to seamlessly transition real world currencies like dollars and euros and the unique digital currencies used inside many of the games we offer at the gaming site. I figured we could integrate a crypto currency wallet somehow and use that currency as the common denominator and a way to automatically pay affiliate commissions. But BitShares gave us a complete decentralized currency exchange network right out of the box. It even had built-in smart contracts to help automate our affiliate program. This helps us make sure every affiliate gets paid automatically for every transaction made by any member of her integrated game and financial empire. And BitShares can keep up with gaming speeds - Its average transaction time is about a second compared to, say, Bitcoin where it can take the better part of an hour to confirm a transaction. Gamers can't wait that long to get more ammo for their hypersonic reciprocating transmorgifyer when they are pinned down and really, really need it! No other cryptocurrency had all that. It completely changed how we now think about all of our start-ups." He then said, "We plan to use the same model to integrate the crypto universe," he waved as if it were a done deal. "Our Chief of Acquisitions and Visionary Officer, Justin LaFountain, has been spearheading a whole new crypto currency venture maybe even bigger than gaming. Its flagship website will soon debut as a one-stop education and shopping site for everything about crypto. The ultimate goal is to introduce new arrivals to the freedoms of the crypto universe and help spread that freedom across its physical and virtual counterparts. We hope that will lead to many loyal customers." "Originally, we thought crypto-evangelism meant teaching people about Bitcoin, how to get and use crypto currencies, wallets, mining support, and understanding the leading exchanges. But by integrating the industrial grade BitShares Exchange Network directly onto our web sites, there's much more value we can add." After a series of annoucements over summer of 2015, BitShares now has a network of complementary partners like CCEDK.com, BANX.io, Cryptonomex.com making the fusion of all our crypto-savvy products and services available to each other's customers. Transparently interoperable markets and freely interacting customers will exponentially magnify our combined network effect. When asked about what it all means in the end for Peak Venture Group , Steve broke it down to what reqally matters to his company. "Bottom line, our competitive edge as a startup incubator was to integrate affiliate marketing into every one of them. BitShares' smart contract services, financial products, and internal affiliate program will greatly amplify that. It all works together to turn existing customers into affiliate marketers and existing affiliate marketers into uber-productive affiliate mentors." Clearly inspiring himself, his gaze drifted off to the horizon, "Peak Ventures Group can leverage these same BitShares Exchange Network relationships to supercharge every Group of new Ventures we Peak!" Contact Peak Venture Group: Justin LaFountain 763-202-4305 MMOCOCS@gmail.com 101 Convention Center Drive. S 700 Las Vegas, NV 89109 SOURCE: Peak Venture Group || Bitcoin Online Casino 4Grinz.com Celebrates Global Grand Opening With Super Launch Giveaway: SAN JOSE, COSTA RICA--(Marketwired - June 30, 2015) -Today's players are looking for the most immersive online casino games that are interactive, sophisticated, and very polished. They want the fun of playing for free with the option of gambling and games should be optimized for tablets and smartphones.4Grinz.comachieves this and more, offering hundreds of state-of-the-art games with 3d cinematic visuals and provocative audio.
"These aren't your grandmother's casino slots," exclaims Wise Walrus PR Manager Sandy Luna. "Today's cutting-edge developers are turning the iGaming industry on its head."
Combine these features with a unique rewards program, and the 4Grinz.com online casino entertainment experience becomes extraordinary. Players will also appreciate the ease and freedom of using Bitcoin, making transactions instantaneous and the tedious process of delayed withdrawals and high fees associated with real money seem obsolete.
Bitcoin online casino 4Grinz.com will celebrate its grand opening to players around the world with itsSuper Launchby giving away 10 free mBTCs to 50 registrants each week. Participants canregisterany time and there's no obligation. The one-step process is completed in seconds with just an email address and there's no need to divulge personal information.
"What sets 4Grinz apart from the competition is its seasoned team of professionals with a gift for innovation," says Luna. "Since 1998, they've served and operated both live and online casinos, then taken an already successful model and brought it into the future with Bitcoin. Frankly, the industry hasn't experienced this level of enthusiasm and innovation in more than a decade."
Registration forSuper Launchstarts now and drawings will continue throughout summer. For a limited time, Bitcoin players can take advantage of 4Grinz.com's 110% Welcome Bonus, a 55% Welcome Back Bonus, and a 35% Member Bonus on reloads. Results ofSuper Launchdrawings will be announced each Tuesday at 12 PM (noon) CST onFacebook.com/4Grinzand winners will receive a congratulatory email with simple instructions on how to claim their 10 free mBTCs. The Super Launch is one of manypromotions4Grinz will be rolling out over the next few seasons, and for exciting announcements on this and others, Like 4Grinz onfacebook.com/4Grinzand Follow ontwitter.com/4Grinzcasino.
About 4Grinz.com -- A Bitcoin online casino that allows for free play and legal gambling,4Grinz.comoffers the latest HD movie-quality games, video poker, blackjack, and slots designed by the industry's most innovative cinematic developers, plus a unique and intimate 24/7 live casino with elegant and attentive dealers in real-time. No download necessary, players can enjoy live and online casinos on-the-go with mobile. Payouts are fast and withdrawals completed in minutes. 4Grinz.com has the richestreward programs, including lavish bonuses, progressive jackpots, and Grinz Points that can be redeemed for merchandise and gift cards or donated to a favorite charity. The seasoned professionals behind 4Grinz.com are Bitcoin people too, serving and operating live and online casinos since 1998. 4Grinz.com is powered by Coingaming. Its fair gaming platform complies with product and service GLI Standards for the ultimate entertainment experience. Changing minds and habits, building trust with smiles, we are 4Grinz.com.
Image Available:http://www.marketwire.com/library/MwGo/2015/6/29/11G046214/Images/Superlaunch-1411332149755.jpgImage Available:http://www.marketwire.com/library/MwGo/2015/6/29/11G046214/Images/AboutUs-1427420557171.jpgImage Available:http://www.marketwire.com/library/MwGo/2015/6/29/11G046214/Images/Screen_Shot_2015-06-27_at_21.48.06-476512181192.jpgImage Available:http://www.marketwire.com/library/MwGo/2015/6/29/11G046214/Images/PlayOnTheGo-446146912309.jpgImage Available:http://www.marketwire.com/library/MwGo/2015/6/29/11G046214/Images/Screen_Shot_2015-06-27_at_22.38.37-1187105050718.jpgEmbedded Video Available:https://youtu.be/RQMUfo47g_s || Is Russia Next To Adopt Bitcoin?: This week, Russian President Vladimir Putin gave his opinion on bitcoin to the public for the first time. Putin hasn't been open about his view on cryptocurrencies in the past, but on Russia 24, the nation's domestic TV network, Putin was optimistic about bitcoin's future possibilities. Putin Commends Bank Of Russia Putin remarked that the Bank of Russia's efforts to explore applications for bitcoin have been beneficial and that the nation may find future use for the technology. In his view, cryptocurrencies still have major reliability issues, but the technology they run on may be useful to facilitate transactions down the road. Related Link: Wedbush Predicts A Bright Future For Bitcoin Still Reliability Issues In his interview, he underlined the problems that bitcoin presents, saying that the fact that the currency isn't backed by anything represents a major issue with adopting cryptocurrencies. Though he said the nation isn't planning to reject cryptocurrencies, the issues related to using them can't be overlooked. Not A No Cryptocurrency enthusiasts took Putin's comments as a positive sign for the direction of digital currencies. Although he did not make any definitive statements regarding the Russian government's stance on using the currency, he appeared optimistic about the possibility of using blockchain in order to keep track of accounting records. Many had expected Putin to take a more firm stance against cryptocurrencies, so the fact that he didn't announce that they would be prohibited was considered a win. See more from Benzinga Cloudminr Hacking Scandal Reignites Skepticism Over Bitcoin Can Marijuana Fight America's Drug Addiction? The Big Business Behind Fantasy Sports © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments
[Random Sample of Social Media Buzz (last 60 days)]
In the last 10 mins, there were arb opps spanning 26 exchange pair(s), yielding profits ranging between $0.00 and $2,244.95 #bitcoin #btc || Current price: 222.8$ $BTCUSD $btc #bitcoin 2015-06-08 03:00:04 EDT || buysellbitco.in #bitcoin price in INR, Buy : 16140.00 INR Sell : 15640.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || Current price: 161.48£ $BTCGBP $btc #bitcoin 2015-06-17 15:00:05 BST || $236.00 at 16:45 UTC [24h Range: $233.01 - $236.28 Volume: 5077 BTC] || buysellbitco.in #bitcoin price in INR, Buy : 15172.00 INR Sell : 14678.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || buysellbitco.in #bitcoin price in INR, Buy : 15674.00 INR Sell : 15191.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || Current price: 254.84€ $BTCEUR $btc #bitcoin 2015-07-19 02:00:09 CEST || Current price: 227.19€ $BTCEUR $btc #bitcoin 2015-06-30 00:20:07 CEST || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000005
Bittrex: 0.00000005
Average $1.2E-5 per #reddcoin
12:00:01
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Trend: up || Prices: 273.61, 278.98, 275.83, 277.22, 276.05, 288.28, 288.70, 292.69, 293.62, 294.43
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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)]
Silicon Valley banks on Bitcoin as a way to overtake Wall Street: If you asked most people through history their biggest complaint about money, most would say they just don’t have enough of it.
But there have long been small factions dissatisfied with the dominant forms of money, which sought a more secure, private, efficient means of storing wealth and paying for things.
The digital currency Bitcoin emerged from these desires, enabled by pervasive access to the Internet and alarm over the failures of central banks and private financial institutions in the credit bust of the late 2000s.
Nathaniel Popper, a New York Times reporter who covers the interplay of finance and technology, has now detailed Bitcoin’s rise through the story of the quixotic utopians and mercenary opportunists who helped develop it in his new book, “Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money.”
As Popper notes in the attached video, privacy advocates had led the quest for “a new money for the Internet Age” since the 1990s, uneasy with the permanent traces left by electronic transactions and suspicious of the banks and governments that controlled the creation and flow of money.
Yet not much took hold until late 2008, when a still-unidentified figure who called himself Satoshi Nakamoto circulated a manifesto and software code for an ingenious system for “mining” Bitcoin using an open network of computers and securely but anonymously verifying the ownership and transfer of this currency.
This effort caught on with a broader assortment of libertarian coders, techno-utopians and outlaw profiteers.The financial crisis as catalyst
“What was in the air when Bitcoin was launched,” says Popper, “was the financial crisis.” The crisis inflamed anger and fear over the misbehavior of banks, the aggressive money printing of the Federal Reserve and the evident systemic vulnerability of nation-based “fiat currencies.”
Popper’s title likens Bitcoin to gold because it shares much of what people have valued in gold over the centuries: It is indestructible, globally accepted, finite in supply, portable, infinitely divisible, difficult to mine and unconnected to any government or institution.
The Bitcoin regime encourages individuals to dedicate computing power to creating new Bitcoin and supporting the platform for their ownership and transfer. Computers “mine” Bitcoin by competing to solve complex mathematical problems. New Bitcoin are “released” in predetermined increments, and the supply will be capped at 21 million Bitcoin around the year 2040.
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Waves of excitement and adversity have washed over Bitcoin since it launched. The black-market ecommerce site Silk Road, which sold drugs and other illegal goods, was a huge drive of its early growth, before law enforcement authorities shut it down. The biggest Bitcoin exchange,Mt. Gox, collapsed after a series of theft attacks and technology failures.
And when Chinese ecommerce giant Baidu began accepting Bitcoin payment it helped set off a speculative surge in the price of Bitcoin, from a few dollars to above $1,200 in 2013. The price has since settled back into the $200s per Bitcoin.
Even after the Fed-hating rhetoric cooled and Bitcoin’s price surge reversed, big-money entrepreneurs and institutions have invested in the Bitcoin ecosystem.
The New York Stock Exchangethis week began quoting a benchmark Bitcoin price index. Former Treasury Secretary Lawrence Summers is involved in a Bitcoinstartup called 21 Inc. Goldman Sachs Group Inc. (GS)has invested in a Bitcoin-related business, as has heavyweight venture capital firm Andreessen Horowitz.
“The fascinating thing about Bitcoin is that it has sort of managed to adapt to the times,” says Popper. “It is sort of a blank slate on which people can write their own interests.”A 'tech utopia'
Some see its main value as serving as a low-cost version of PayPal, enabling efficient global online payments, or a more seamless way for banks to move enormous sums among themselves.
Others believe it is the supreme store of wealth, sure to appreciate given limited supply and growing adoption. Others see the main value residing in the clever open-source computing platform, which some believecan be put to widespread use for other purposes.
Some of the fiercest advocates for Bitcoin embody the present rise of “tech utopianism” in Silicon Valley, where high-riding entrepreneurs and programmers believe they are remaking massive parts of society through smarter software.
Remaking the storage and transfer of money “takes out a lot of middlemen,” Popper points out. “A lot of the excitement in Silicon Valley is, maybe this is Silicon Valley’s chance to take some of the fundamental business lines of Wall Street.”
Of course, the vast majority of people seem rather content with the existing dollar-based system and the payments infrastructure that works rather well for most purposes. Much of the innovation in financial technology – such as Apple Pay and Google Wallet – are built atop the banking and card processing networks, in fact.
This could make Bitcoin-centered systems seem like a solution in search of a problem. But that won’t stop the true believers and opportunists from trying to persuade the world that there is a more perfect form of money, invented seven years ago by someone who’s never been identified. || 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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• Personal Finance || Bitcoin brokerage Circle gets $50 million investment: (Reuters) - Bitcoin brokerage Circle Internet Financial Inc said it closed a $50 million (32 million pounds)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) || Can Overstock.com (OSTK) Surprise This Earnings Season? - Analyst Blog: Overstock.com Inc. OSTK is slated to report first-quarter 2015 results after the closing bell on Apr 27. Last quarter, the company posted a negative earnings surprise of 76.00%. Let's see how things are shaping up for this announcement. Factors to Consider Overstock’s fourth-quarter 2014 earnings of 6 cents missed the Zacks Consensus Estimate of 25 cents. Revenues of $470 million, however, beat the consensus mark of $452 million. On a positive note, Overstock, which became the first large retailer to accept bitcoin in Jan 2014 is likely to benefit from the bitcoin-friendly regulatory climate in its home state, Utah. The new bill also proposes that Utah could become a Bitcoin Silicon Valley. Overstock Club O loyalty program, which costs customers $19.95 a year, comes with free shipping and a generous rewards payout of 5% to 25% on all items purchased. That, along with a new branded credit card, should help boost loyalty to the site and encourage repeat purchases. Overstock has been accepting bitcoin as payment for a year now. Customers have made $3 million worth of purchases with it so far. Recently, there were reports that it is planning to offer its employees the option of being paid in bitcoin. With a strong business model and a growing customer base, Overstock should benefit from the shifting demand to purchase gifts and other items online. Earnings Whispers? Our proven model does not conclusively show that Overstock will beat earnings estimates this quarter. That is because a stock needs to have both a positive Earnings ESP and a Zacks Ranks #1, 2 or 3 for this to happen. That is not the case here as you will see below. Zacks ESP: Both the Most Accurate estimate and the Zacks Consensus Estimate stand at 20 cents. Hence, the difference is 0.00%. Zacks Rank: Overstock currently carries a Zacks Rank #3 (Hold). Though Zacks Rank #1, 2 or 3 increases the predictive power of ESP, the company’s ESP of 0.00% makes surprise prediction difficult. Story continues We caution against stocks with Zacks Rank #4 and 5 (Sell-rated stocks) going into the earnings announcement, especially when the company is seeing negative estimate revisions. Other Stocks to Consider Here are some other companies, which you may consider as our model shows that they have the right combination of elements to post an earnings beat this quarter: Groupon, Inc. GRPN has an Earnings ESP of +50.00% and a Zacks Rank #1 (Strong Buy)Cognex Corp. CGNX with Earnings ESP of +4.35% and a Zacks Rank #1Apple Inc. AAPL has an Earnings ESP of +1.38% and a Zacks Rank #2 (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 OVERSTOCK.COM (OSTK): Free Stock Analysis Report APPLE INC (AAPL): Free Stock Analysis Report COGNEX CORP (CGNX): Free Stock Analysis Report GROUPON INC (GRPN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Microelectronics Results From the Bitcoins Conference in New York: MONARCH BAY, CA / ACCESSWIRE / May 13, 2015 /Microelectronics Technology Company (MELY) is pleased to report results after attending and exhibiting at the Bitcoins Conference in New York City.
BTC Pool Party, on behalf of Microelectronics Technology Company, was an active participant in the Bitcoins Conference in New York this past April 27th – 29th. Additionally, BTC Pool Party was a Sponsor for the Event and participated with an exhibit during the Conference.
The attendance for the 2015 conference was approximately 1,300 participants, individuals and companies representing all aspects of the Bitcoin community; this attendance number was similar to the conference held in 2014. Majority of the conference participants stopped at the BTC Pool Party exhibit to learn more about the transparency of the pool, the technology on which it is based, and to learn how the Company is solidifying its position in the Bitcoin community.
Microelectronics increased its recognition throughout the participants of the conference and developed strong alliances with manufacturers and developers of the new chip technology. The Company has entered into active communication with those manufacturers and developers invested in supplying the Company with an increase in mining production.
"The Company is also pleased to be asked to assist in the advancement of 'friends of the pool initiative,' where the goal is to create an alliance of companies working together to support and promote our industry," stated President Brett Everett. "This is a strategic time for Microelectronics and BTC Pool Party growth."
The primary goal of BTC Pool Party was to attract other miners to the pool. Many large miners as well as independent miners expressed interest in BTC Pool Party. There is a significant list of potential miners interested in joining BTC Pool Party. Several have been in communication with the Company to schedule testing of their specific miners on the pool.
The company continues to develop and improve the BTCPOOLPARTY mining pool with the introduction of more detailed stats of the mining operations available as the Company moves forward.https://www.btcpoolparty.com/
https://www.facebook.com/btcpoolparty
Additional photos and videos can be viewed at the company's Facebook page:
https://www.facebook.com/MELYPK.
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; MELY's ability to commercialize its technology; ability to defend intellectual property; material and component costs; competition; economic conditions; consumer demand and product acceptance, and availability of growth capital.
Additional considerations and risk factors are set forth-in reports filed on Form 8-K and 10-K 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.
CONTACT:
For further Information:Microelectronics Technology Company
President:Mr. Brett Everett888-681-9777 ext. 5info@melypk.comwww.melypk.com
SOURCE:Microelectronics Technology Company || 4 trades on airline and aerospace stocks: JetBlue Airways (NASDAQ: JBLU - News ) stock could gain ground as the carrier attempts an overseas expansion, some CNBC "Fast Money" traders said. The company on Monday said it is looking into extending its network to South America and other places abroad with a long-range plane from Airbus. JetBlue closed Tuesday barely higher. While he was disappointed by the way it traded after the news, trader Guy Adami said he still likes JetBlue at its current price, below $20 per share. The stock has climbed more than 20 percent this year, and trader Steve Grasso agreed that he would stick with it, especially after a recent pullback in the wider airline sector. Read More For Boeing, Airbus, it's about profits That broader weakness has brought Delta Air Lines (NYSE: DAL - News ) to "interesting levels," said trader Tim Seymour. The stock has fallen more than 17 percent this year, and closed Tuesday around $40 per share. Delta looks risky if it fails to hold above $40, he noted. Boeing (NYSE: BA - News ) looks the most appealing in the aerospace sector, trader Brian Kelly contended. The stock has climbed almost 10 percent this year. Read More Airlines are getting better at being on time Disclosures: TIM SEYMOUR Tim Seymour is long AAPL, T, BAC, C, DIS, F, GE, GM, GOOGL, INTC, JCP and SUNE. Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX and YHOO. STEVE GRASSO Steve Grasso is long AAPL, BAC, DD, DECK, EVGN, MJNA, PFE, T, TWTR and GDX. His firm is long AVP and TWTR. His kids own EFG, EFA, EWJ, IJR and SPY. BRIAN KELLY Brian Kelly is long DXGE, BTC=, BBRY and U.S. dollar. He is short Australian dollar, Canadian dollar, euro, yen and yuan. GUY ADAMI Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck. More From CNBC CNBC.com News Page CNBC.com Blogs Page CNBC.com Earnings Central || 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. || The semiconductor trade: 4 stocks to watch: Applied Materials (NASDAQ: AMAT) ' earnings beat Thursday may provide a reason to buy into the battered semiconductor space, CNBC "Fast Money" trader Brian Kelly said. The company-which makes technology used to manufacture chips-beat Wall Street's earnings expectations as total orders rose 11 percent year-over-year. Shares rose 2.5 percent in extended trading to more than $20 per share. Read More After-hours buzz: El Pollo Loco, King, Party City & more "I would be a buyer of Applied Materials here," Kelly said. Big-name stocks in the sector, including Qualcomm (NASDAQ: QCOM) and Micron (NASDAQ: MU) , have suffered this year. Trader Jon Najarian looked to stocks that have performed well while some peers struggled. He pointed to Broadcom (NASDAQ: BRCM) , which he called a "monster" as it has climbed more than 50 percent in the last year. Najarian also liked Maxim Integrated Products (NASDAQ: MXIM) , which has climbed 7 percent this year. Maxim jumped more than 4 percent Thursday on reports that Avago (NASDAQ: AVGO) has shown interest in buying it. NXP Semiconductors (NASDAQ: NXPI) also looks to have upside despite an "incredible rise," said trader Steve Grasso. The company-which has a hand in credit card system components-has soared 34 percent higher this year. Disclosures: Jon Najarian Jon Najarian is long AEP, BBY, CS, CSLT, EXXI, FEYE, GE, HFC, HSBC, HUN, HZNP, JWN, MAS, MCD, MDRX, MRVL, MW, NEE, NRG, NUGT, OAS, OC, PG, PVA, RHT, RRC, RYL, SCTY, SIMO, SIRI, SKX, SOL, SYK, TAP, TEVA, TTWO, TLT, VIX, WMB, UPS, XLI, YPF and ZIOP. He is long calls AKS, BBY, CTXS, EQT, EWJ, FB, GE, GREK, GRPN, GSK, GTI, IDTI, JWN, LNKD, MCD, MDRX, MT, MYL, NTAP, NUAN, OAS, PG, PPC, PRU, RAD, SAP, SIMO, SKX, SNDK, TAP, UPS, VALE, WFM and XLK. He is long LOCO puts. Today, he bought AEP, JWN, NUGT, UPS, JWN calls MT calls, UPS calls and LOCO puts. Steve Grasso Steve Grasso is long AAPL, BAC, BTU, DD, EVGN, MJNA, PFE, T, TWTR and GDX. His firm is long MCD, AXP, IBM, KO, TWTR and ZNGA. His kids own EFG, EFA, EWJ, IJR and SPY. Karen Finerman Karen is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, M and KORS. She is short SPY. Her firm is long AAPL, ANTM, BAC, C, DIS, FBT, FINL, FL, GOOG, GOOGL, GPS, IBB, JPM, M, KORS, SUNE, URI and XBI. Her firm is short IWM, SPY, MDY. Karen Finerman is on the board of GrafTech International. Brian Kelly Brian Kelly is long DXGE, BTC=, BBRY, SPY puts and U.S. dollar. He is short Australian dollar, euro, yen and yuan. Today, he bought DXGE and sold short euro. More From CNBC Top News and Analysis Latest News Video Personal Finance View comments || Dutch Bank Issues Europe's First Certified Climate Bond: ABN AMRO Bank N.V., a bank based in the Netherlands,issuedthe eurozone's first ever green bond on Wednesday, shortly after the Climate Bonds Standard for Low Carbon Buildings was unveiled at an investor meeting in London.
The bond represents what many hope will be a growing push to lower carbon emissions throughout Europe and is expected to be the first of many bonds issued with this certification.
High Demand
Investor interest in the bond caused ABN AMRO to upsize the bond deal from €350 million to €500 million ($556 million USD), making it the largest Certified Climate Bond to have been issued to date.
In late May,Australia and New Zealand Banking (ADR)(OTC:ANZBY) issued its own Certified Climate Bond for A$600 million ($464 million USD). Both bonds were well received by all types of investors, though dedicated green investors made up the majority of the interested parties.
Related Link: Is Bitcoin Bad For The Environment?
What Does It Mean?
A Certified Climate Bond means that the bond has been evaluated by an approved verifying party that ensures that the proceeds of the bond are used to further the development of low carbon buildings.
This week at the RI Europe 2015 in London, the standards dictating what projects would qualify for use of Certified Climate Bond funds were unveiled.
They included new rules regarding carbon standards for commercial and residential buildings as well as upgrade projects.
Interest To Continue
Both ANZBY and ABN AMRO saw investors oversubscribing for their green bonds, suggesting that there is a massive market for environmentally conscious investment options.
Many expect that the growing number of green investors will prompt more banks to roll out their own Certified Climate Bonds and help push forward the initiative for sustainable construction.
Image Credit: Public Domain
See more from Benzinga
• Pre-IPOs Are The New IPOs
• The Hemp Industry Struggles To Find Its Place
• New York Issues BitLicense Rules To Mixed Reviews
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Midas Rezerv Announces the First Gold-Backed Currency on the Bitcoin Blockchain: BANGKOK, THAILAND / ACCESSWIRE / April 24, 2015 / Midas Rezervhas launched a more efficient way to trade physical gold. Trade gold for very low fees and the transparency of blockchain technology. Every Midas Rezerv token is 100% backed by 1 gram of gold.
TheMidas Rezervteam has launched a decentralized distributed 100% physical gold-backed token platform designed to enhance investments, trading, capital preservation, and payments in physical gold represented by its digital equivalent. The gold holdings are stored in non-bank, fully-insured vaults located in Free Trade Zones, with a permanent proof of holdings available for public access online and via the blockchain.
Midas Rezerv aims to disrupt $500 Billion private investment gold market by offering decentralized trading and gold distribution ecosystem on bitcoinblockchain. Current physical gold investing has high premiums to buy, discounts to sell, along with storage and insurance fees. Midas Rezerv offers individuals a cost-effective and secure solution to own, trade, and pay with physical gold in a new fashion, based on decentralized bitcoinblockchain design. Each MRCoin is backed by 1 gram of real investment gold bullion, which is fully auditable in real time, and is digitally marked to specific vault location that it is stored in. Midas Rezerv offers very low transaction fees.
"Midas Rezerv brings together 6 years of blockchain technology with 6000 years of gold history. Now anybody can own and securely store physical gold within the reach of a smartphone, and conduct trading and payments in gold within seconds and at a very low cost. If you own MRcoin, you own the gold."
-Alexi Lane, Founder of Midas Rezerv-
MRCoin works as a bearer-bond coin and is the perfect safe haven to preserve and transfer value, use as trading asset, or as a method of payment. It is redeemable for gold or cash through authorized dealers and bitcoin exchanges.
Midas Rezerv will be working with some of the top cryptocurrency exchanges from around the globe. Initial trading of MRCoins vaulted in Amsterdam (MRCAM), has commenced onMaster Exchange. Midas Rezerv will be creating easy entry and exit points for gold traders and long-term investors to work in the market for both bitcoin and fiat currencies. Midas Rezerv is working directly with top-tier storage vaults from around the globe, and has currently secured relationships with vaults in Amsterdam, Dubai, and Hong Kong.
Midas Rezerv platform is created and maintained byAmilabs, Ltd., a blockchain development company specializing in Bitcoin 2.0 infrastructure. You can learn more about Midas Rezerv athttps://midasrezerv.com/.
For Direct Inquiries contact Alexi Lane atcontact@midasrezerv.comor Marketing Departmentpr@midasrezerv.com.
For Telephone inquiries call: +852-8197-GOLD
SOURCE:Midas Rezerv
[Random Sample of Social Media Buzz (last 60 days)]
current #bitcoin price (bitfinex) is $235.5, last changed Sat, 02 May 2015 21:51:00 GMT. queried at: 21:51:04 || Bitcoin traded at $226.39 USD on BTC-e at 10:00 AM Pacific Time || In the last 10 mins, there were arb opps spanning 20 exchange pair(s), yielding profits ranging between $0.00 and $1,164.92 #bitcoin #btc || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000006
Bittrex: 0.00000006
Average $1.4E-5 per #reddcoin
02:00:01 || current #bitcoin price (winkdex) is $228.68, last changed Tue, 28 Apr 2015 01:00:00 GMT. queried at: 01:03:00 || current #bitcoin price (winkdex) is $225.16, last changed Wed, 29 Apr 2015 15:50:00 GMT. queried at: 15:53:03 || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000003
Bittrex: 0.00000004
Average $7.0E-6 per #reddcoin
07:00:02 || LIVE: Profit = $1,233.44 (37.64 %). BUY B13.60 @ $239.80 (#BitStamp). SELL @ $246.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000005
Bittrex: 0.00000006
Average $1.2E-5 per #reddcoin
04:00:01 || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000006
Bittrex: 0.00000005
Average $1.2E-5 per #reddcoin
16:00:02
|
Trend: up || Prices: 246.99, 244.30, 240.51, 242.80, 243.59, 250.99, 249.01, 257.06, 263.07, 258.62
|
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]
Not fully available.
[Random Sample of News (last 60 days)]
This Is The Hacker Taking The Fight To ISIS: A hacker by the name of WauchulaGhost is doing his/her part in battling the terrorist group ISIS where it has a dominant presence: online. Terrorist groups like ISIS are notorious for maintaining a strong social media presence to spread their propaganda and recruit new members. Over the past month, WauchulaGhost has hacked over 250 accounts on Twitter Inc (NYSE: TWTR ) that have been linked with ISIS members. Related Link: Orlando Shooting: How Past Acts Of Terror Affected Stock Markets The hacker replaces ISIS' terrorist ideology and content with pornography and gay pride messages an act that is even more meaningful following the terrorist attack in Orlando, Florida, in which a gunman pledged allegiance to ISIS and massacred 49 people at a gay club. hacker2.jpg Once an account is hacked, ISIS' black flags are replaced with rainbows and gay couples embracing. The hacker has a network of people across the world willing to help him however possible, including translating conversations to and from Arabic. hacker4.jpg "There was a few of us... that discovered a vulnerability," the hacker told CNNMoney. "We thought, 'Hey let's go start taking their accounts ... and [start] humiliating them.'" The hacker also criticized social media companies, including Twitter, for not doing enough to shut down the accounts linked to Terrorist groups. For its part, Twitter told CNN Money it has suspended over 125,000 accounts related to ISIS sine the middle of 2015. hacker1.jpg "Sometimes you have to stand up for what you believe in," he told CNNMoney. "If you want change, you have to make that change, even if it means doing something illegal." See more from Benzinga Reaction To Criticism Of 'Chef Curry' Shoe Cooking Up Buying Opportunity For Under Armour London's Tech Sector Thinks Brexit Will Be A Disaster Bitcoin Is Up 30% This Week And 200% This Year: Here Is What You Need To Know © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 'FlowRio2016Extra' App Among Top Downloads in the Region: MIAMI, FL--(Marketwired - Aug 9, 2016) - The ' FlowRio2016Extra ' App peaked at the #2 spot alongside the worldwide phenomenon Pokemon Go , as Olympic fans in the Caribbean downloaded the latest feature from Flow, the Official Broadcast Partner of the Rio 2016 Olympic Games . ' FlowRio2016Extra ' App, which is free to all users, is trending on both iOS and Android and is part of Flow's commitment to transform the Olympic Games viewing experience across the Caribbean. Customers are raving about the service; GregFF from Jamaica declared, " Flow has done something exceptional here . I have never been able to follow or experience the Olympic Games like this. Bravo @FLOWJamaica" - GregFF (Jamaica), Aug 06 2016 09:39 AM Trinifido of Trinidad was elated and added, "Okay @FlowTT I have to rate you with this #FlowRioapp. It's awesome. #RioOlympics2016." Fellow Trinidadian, Lizimberlis reported being "...happy I have @Flowtt...Olympic coverage of basketball, cycling and even equestrian." Lizimberlis of Trinidad, Aug 06 2016 12:13 PM. As news of the impressive ranking broke, Michele English, Acting President of Flow, stated, "This is a proud moment for us at Flow, considering this has come literally on the first day of the 2016 Olympic Games. To actually be in the trending category alone counts as a major accomplishment, to be second place to Pokemon Go which is also the #1 trending search for i OS is beyond impressive. Our goal is to continue to delight our customers with innovations such as the ' FlowRio2016Extra' App and we are thrilled that they are responding to the investments to serve them better." According to English, "the downloads have so far exceeded our initial expectations, and as the Olympic Games progress and more of our Caribbean athletes spring into action, we anticipate even more activity, more searches and in effect more downloads." Downloads are free to everyone, however, Flow customers have the added benefit of watching the live streams. Story continues For English, the rating has taken on additional significance for the brand in light of the mammoth task the company has undertaken to prioritize and transform the customer experience. "As we place the customer at the heart of everything we do, we aim to complement, empower and enhance the consumers' ever-evolving lifestyle," English also said. Olympic fans have been gravitating to the ' FlowRio2016Extra' App because of its ease, convenience and complete access to all things Olympics, wherever and whenever the consumer wants. The ' FlowRio2016Extra ' App allows the user complete freedom to carry on with life as usual even while enjoying the Games and not be restricted to the confines of the living room sofa. The ' FlowRio2016Extra' App has amazing features including multiple camera angles, giving viewers a sense of actually being up front and center at all events across all 32 Olympic venues in Rio de Janeiro. Download the Free app today! http://hyperurl.co/FlowRio2016Extra NOTE TO EDITOR: To view ranking visit the G oogle app store -- it is indicated in the trending section of the store: https://play.google.com/store/apps/collection/topselling_free?hl=en For iOS, it displays in the trending searches , which once again are based on algorithms similar to Android. These trending searches are also region specific. The store displays by region -- and is updated on a regular basis based on a complex algorithms, usually based on high volume downloads and usage over a short period. A mobile consumer survey reveals that nearly half of all mobile app users identified browsing the app store charts and search results (the placement on either of which depends on rankings) as a preferred method for finding new apps in the app stores. Simply put, better rankings mean more downloads and easier discovery. As of July 2016; Android users were able to choose between 2.2 million apps. Apple's App Store remained the second-largest app store with 2 million. 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 -- in over 30 markets. 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 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 ) ( 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=3043152 || Cable & Wireless Reports Preliminary Q1 2016/17 Results: MIAMI, FL--(Marketwired - Aug 5, 2016) -Cable & Wireless CommunicationsLimited ("CWC") is a leading telecommunications operator in substantially all of its consumer markets, which are predominantly located in the Caribbean and Latin America, providing entertainment, information and communication services to 3.7 million mobile, 0.4 million television, 0.6 million internet and 0.8 million telephony subscribers. In addition, CWC delivers B2B services across the region and provides wholesale services over its sub-sea and terrestrial networks that connect over 30 markets.
Operating and financial highlights*:
• Delivered 14,000 subscriber additions in Q1 2016/17, as compared to 4,000 adds in prior-year period2,000 video additions driven by our DTH business in Panama5,000 broadband internet and 6,000 telephony subscriber adds, supported by network investment
• Mobile data penetration up seven percentage points YoY to 53%
• Further strengthened our customer proposition through launch of Flow Sports Premier in JulyProviding HD sporting content exclusively to Flow customers with unrivaled Premier League coverage; only Flow customers can watch all 380 games a season, beginning in August
• Investing to drive future performance, including:Completed roll-out of unified Flow brand across regionActivated LTE-Advanced network in Cayman providing peak throughput > 75MbpsLaunched fixed bundles in Trinidad & TobagoStrengthened B2B portfolio with launch of cloud-based call center solutionDeploying new advanced video platforms in Panama and the Bahamas
Subscriber Statistics
CWC delivered a solid Q1 2016/17 performance as the organic changes for all of our fixed and mobile product categories improved year-over-year. In our mobile business, which represents roughly 40% of our total revenue, the total base increased by 148,000 subscribers or 4% year-over-year to 3.7 million. This performance was led by a 21% increase in subscribers who purchased a data plan. Mobile data penetration now stands at 53% of our total mobile subscriber base, up 2 percentage points from 51% at March 31, 2016.
Turning to our fixed-line business, we added 14,000 subscribers during the quarter, with year-over-year improvements across all three products. We reported 5,000 broadband net additions in Q1 2016/17, as we increased penetration over our improved networks. On the video front, we added 2,000 subscribers in the quarter, driven by growth in Panama DTH, where we have seen strong demand for our prepaid TV product and our DTH subscriber base rose from 16,000 to 39,000 year-over-year. Offsetting this increase, video subscribers in the Caribbean declined as a result of increased competition and challenging economic environments, however we are working to mitigate these factors by re-vamping our product offering in these markets, including the July launch of our Flow Sports Premier channel. This premium channel will feature HD content and offer the very best in sporting content, exclusively to Flow's customers across the region. The highlight of Flow Sports Premier will be unrivaled coverage of the Premier League beginning in August 2016 -- the world's most popular football league -- ensuring that only Flow's customers can watch all 380 games a season.
Rounding out our fixed-line products, we added 6,000 telephony subscribers in the quarter, as we increased penetration of our VoIP-based services through bundling across our footprint. Triple-play penetration increased 170 basis points over the year to cover 8.6% of our subscribers at June 30, 2016, still leaving ample room for growth. Finally, during the last twelve months, we have expanded our network by roughly 35,000 homes and upgraded over 100,000 homes to two-way capability.
From a regional standpoint, the following highlights the trends in our largest markets:
• Panama mobile subscribers declined 1% in the quarter as continued competition through aggressive promotional activity adversely impacted our prepaid customer base. However, this was partly offset by higher-ARPU postpaid subscribers, which were up 2%, representing the eighth consecutive quarter of growth. Our prepaid DTH product, up 22% in the quarter, continued to drive video subscriber growth in Panama. Fixed video and broadband subscribers grew by 3%, and should be further supported by the upcoming launch of re-vamped video and broadband products in the Panama market.
• In the Bahamas, we experienced relatively flat broadband and fixed voice performance but plan to launch a video product in Q2 2016/17 that we expect will strengthen our competitive position.
• Turning to Jamaica, one of the largest telecommunications markets in the region, broadband subscribers were up 2%, and mobile subscriber numbers continued to grow, with 18,000 additions in the quarter, as we continued to win back market share following the successful rebranding to Flow.
• Increased competition and challenging macroeconomic environments in Barbados and Trinidad & Tobago led to reduced video subscribers, however we are seeing encouraging early results from recently launched fixed bundles in Trinidad & Tobago.
About C&W CommunicationsCWC 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 -- in over 30 markets.
Learn more atwww.cwc.com, or follow C&W onLinkedIn,FacebookorTwitter.
About Liberty GlobalLiberty 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 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) 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 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 visitwww.libertyglobal.com. || Bid for SolarCity may mean Elon Musk doesn't see Tesla as an auto company: "Fast Money" trader Brian Kelly said that Tesla Motors(NASDAQ: TSLA)'bidfor SolarCity(NASDAQ: SCTY)indicates that "Elon Muskdoesn't view Tesla as an auto company."
He explained that while Tesla is selling electric vehicles at the moment, there have been signs that its CEO, Musk, has been intending to do more.
"If you look at what he's doing with the Gigafactory, you look at this acquisition, he's clearly going after the decarbonization of the electric grid in the U.S. To me, that's the bigger play in all of this," Kelly said.
Trader Karen Finerman said that Tesla's offer, valued up to $28.50 per share, "doesn't seem like a gigantic price for a company that was trading significantly higher not that long ago."
SolarCity shares closed at $21.19 on Tuesday, which is more than 75 percent below its all-time closing high of $86.14.
Trader Tim Seymour said that the timing of the deal seems "distracting," citing Tesla's struggles to meet sky-high expectations for deliveries and its mass-market car.
"They just had a capital raise. They probably need more capital. I mean, why now? ... This deal makes no sense," he said, adding that he's always found Tesla's valuation tough to justify.
Wall Street will surely be watching the aftermath of Tuesday's announcement closely. Famed short seller Jim Chanos has been outspoken about hisshort positions in both companies.
In September,Chanos told CNBC's "Squawk Box"that SolarCity is the most problematic of companies led by Musk because it's "burning $300 million to $500 million a quarter putting up solar panels that may not be worth anything in 20 years."
Disclosures:
Karen Finerman
Karen 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, LYV, M, MOH, PLCE, SPY puts, URI, WIFI. Her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International.
Steve Grasso
BA CC EVGN KBH MJNA MU OLN PFE PHM T TWTR UA GDX KIDS own EFA EFG EWJ IJR SPY NO SHORTS Stuart Frankel & Co Inc. and some of its partners: DAL LUV AAPL UAL LDP WDR AVP CVX FCX IBM 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
Brian Kelly
Brian Kelly is long Bitcoin, GLD, SFK, SLV, TLT, US Dollar UUP. He is short CS, DB, UBS
Tim Seymour
Tim Seymour is long APC, AVP, BAC, BBRY, CLF, DO, EDC, EWZ, F, FCX, FXI, GM, GOOGL, GRMN, GE, INTC, LQD, M, MCD, MPEL, NKE, RACE, RAI, RH, RL, SINA, T, TWTR, UA, VALE, VZ, XOM. short: SPY, WYNN, XRT. Tim's firm is long ABX, BABA, BIDU, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, YHOO, short HYG, IWM
More From CNBC
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• Personal Finance || 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 || Bitcoin worth $72 million stolen from Bitfinex exchange in Hong Kong: By Clare Baldwin
HONG KONG (Reuters) - Nearly 120,000 units of digital currency bitcoin worth about US$72 million was stolen from the exchange platform Bitfinex in Hong Kong, rattling the global bitcoin community in the second-biggest security breach ever of such an exchange.
Bitfinex is the world's largest dollar-based exchange for bitcoin, and is known in the digital currency community for having deep liquidity in the U.S. dollar/bitcoin currency pair.
Zane Tackett, Director of Community & Product Development for Bitfinex, told Reuters on Wednesday that 119,756 bitcoin had been stolen from users' accounts and that the exchange had not yet decided how to address customer losses.
"The bitcoin was stolen from users' segregated wallets," he said.
The company said it had reported the theft to law enforcement and was cooperating with top blockchain analytic companies to track the stolen coins.
Last year, Bitfinex announced a tie-up with Palo Alto-based BitGo, which uses multiple-signature security to store user deposits online, allowing for faster withdrawals.
"Our investigation has found no evidence of a breach to any BitGo servers," BitGo said in a Tweet.
"With users' funds secured using multi-signature technology in partnership with BitGo, a lot more is at stake for the backbone of the bitcoin industry, with its stalwarts and prided tech under fire," said Charles Hayter, chief executive and founder of digital currency website CryptoCompare.
The security breach comes two months after Bitfinex was ordered to pay a $75,000 fine by the U.S. Commodity and Futures Trading Commission in part for offering illegal off-exchange financed commodity transactions in bitcoin and other digital currencies.
BITCOIN SLUMP
Tuesday's breach triggered a slump in bitcoin prices and was reminiscent of events that led to the 2014 collapse of Tokyo-based exchange Mt Gox, which said it had lost about $500 million worth of customers' Bitcoins in a hacking attack.
Bitcoin plunged just over 23 percent on Tuesday after the news broke. On Wednesday it was up 1 percent at $545.20 on the BitStamp platform.
Tackett added that the breach did not "expose any weaknesses in the security of a blockchain", the technology that generates and processes bitcoin, a web-based "cryptocurrency" that can move across the globe anonymously without the need for a central authority.
A bitcoin expert said the scandal highlighted the risks of companies using cryptography for their ledgers.
"The more you rely on its benefits, the greater the potential for damage when keys are stolen. We still have some way to go to create highly secure but convenient systems," said Singapore-based Antony Lewis.
The volume of bitcoin stolen amounts to about 0.75 percent of all bitcoin in circulation.
It is not yet clear whether the theft was an inside job or whether hackers were able to gain access to the system externally. On an online forum, Bitfinex's Tackett said he was "nearly 100 percent certain" it was no one in the company.
Bitfinex suspended trading on Tuesday after it discovered the breach. It said on its website that it was investigating and cooperating with the authorities.
The security breach is the latest scandal to hit Hong Kong's bitcoin market after MyCoin became embroiled in a scam last year that media estimated could have duped investors of up to $387 million. The bitcoin trading company closed after the scandal.
The president of the Hong Kong Bitcoin Association said the only way to protect information is to disperse it in so many small pieces that the reward for hacking is too small.
"For an attacker, the cost-benefit strategy is quite easy: How much is in the pot and how likely is it that I'm getting the pot?" said Leonhard Weese.
(Additional reporting by Hera Poon in HONG KONG, Jeremy Wagstaff in SINGAPORE and Jemima Kelly in LONDON; Editing by Will Waterman) || Nadex And Exchange Traded Binary Options Growth Brings Both Mainstream: The fever-pitch popularity of Exchange-Traded Binary Options (ETBOs) has maintained growth in record levels at Nadex-The North American Derivatives Exchange. Comparing second quarter 2016 to second quarter 2015, overall trading volume and total number of trades grew by almost 40 percent. This is a direct reflection of day trader’s awareness of, and enthusiasm, for ETBOs and spreads, taking them mainstream. Throughout this record growth cycle, Nadex increased the number of markets to trade and added different contract times, including 20-minute indices and 5-minute forex binary options. The number of daily contracts offered doubled from 5000 in 2013 to over 10,000 in 2016. Nadex spread trading volume accounted for approximately nine percent of the second quarter year over year growth and continues to grow in popularity as well. In response to the record growth, Nadex has added yet another new market maker. The result is deeper FX binary options markets with enhanced liquidity and more markets expected in the near future. "In addition to a clear increase in awareness of our products and services among our target market, we've seen a surge in searches for "binary options" and "Nadex" over the last year," said Dan Cook, Nadex's Director of Business Development. The growth should not be a surprise. There has long been a need and demand for new methods of trading that have capped or guaranteed limited risk. Nadex provides an alternative to the usual trading of FX and futures through a brokerage. Trading on Nadex means traders get that limited risk with binary option and spread trading on a regulated exchange. The second quarter saw the following markets most heavily traded: EUR/USD, USD/JPY, AUD/USD, and GBP/USD forex pairs, the U.S. 500 based on the underlying E-Mini S&P 500 futures market, along with other U.S. and international indices. The greatest increase in commodity markets was in crude oil and gold futures. More Powerful Full Featured Mobile Apps Story continues Traders have the convenience of trading on Nadex away from their computers and on their mobile devices. Nadex saw the advantages of this flexibility for traders and made major upgrades to the apps for iPhone and Android. Nadex mobile apps allow traders to send orders directly to the exchange, manage them, receive live exchange data, fund an account, chart, browse contracts from various markets, as well as do analysis, all from their mobile devices. "Our growth comes from multiple factors," said Tim McDermott, CEO of Nadex. "More markets and more contracts within each day mean more opportunities. Powerful and full-featured mobile apps mean a new way to access those opportunities wherever you are. And increased awareness of Exchange-Traded Binary Options means that more people are coming to us to take advantage of those opportunities." Being the first CFTC (Commodity Futures Trading Commission) regulated online exchange, Nadex is also the largest in the U.S., providing binary options and spreads for traders looking for security and limited risk while trading. Traders can trade short-term price movements in markets, Bitcoin and economic news events with Nadex’s limited risk binary options and spreads with hourly, daily, and weekly contracts. Free trading education on how to trade Nadex binary options and spreads is available at Apex Investing . See more from Benzinga Monthly Release Of Retail Sales and CPI Offers Iron Condor Trading Early Morning News Moving The Market? Trade The Night Before News Provides Volatility For Trading Opportunity © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || High Prices And Expensive Gifts offered by PowerBTC to Bitcoin Sellers: NEW YORK, NY / ACCESSWIRE / August 7, 2016 /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 PowerBTC, an up-and-coming financial world star that is taking e-commerce by storm.
PowerBTC LLC (http://www.PowerBTC.com), an already well known cryptocurrency trader on the virtual market, has its on-going offer of higher-than-the-market-price premiums on Bitcoin purchase. Their offer is time-limited but comes along with a bunch of benefits for 10+ or larger transactions. While their standard approach of Bitcoin sellers remains a bonus of 10% more than the market's official rate, the company has added few more additional premiums and gifts for volume business.
While having listed all of them below, customers can be assisted and given additional information at any time.
POWERBTC CURRENT PROMOTIONAL OFFERS:
10+ BTC (24-karat gold coin);20+ BTC (24-karat gold coin +3 %);30+ BTC (24-karat gold coin +5 %);50+ BTC (24-karat gold coin +8 %)
24-karat gold coin worth of 450 USD based on the gold market price.
Tom Clark, the CEO of PowerBTC, 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 tohttp://www.PowerBTC.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.
While the offer may appear to be a bit chaotic for the regular seller, the mechanism behind it is based not only on the company's appetite for Bitcoin purchase, but also on the outcome of the Bitcoin PowerBTC is reinvesting, together with a sophisticated calculus and certain principles common within any financial services business.
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 PowerBTC the edge over competitors in the field by offering a depth of market knowledge that is unrivaled.
PowerBTC is currently purchasing Bitcoins so any interested sellers should visit their website as soon as possible for the best deals. For more information, visit,http://www.PowerBTC.com.SOURCE:PowerBTC LLC || Winklevoss Bitcoin ETF Will Trade on BATS: The Winklevoss Bitcoin Trust, the highly anticipated exchange traded fund sponsored by twin brothers Cameron and Tyler Winklevoss, will trade on the Bats ETF Marketplace when the product comes to market.
The Winklevoss Bitcoin Trust “made plans to switch its exchange listing to BATS Global Markets from the Nasdaq, according to a regulatory filing with the Securities and Exchange Commission Wednesday,” reports Paul Vigna for the Wall Street Journal.
The trust’s sponsor is Math-Based Asset Services LLC, which was formed in mid-2013. 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.
Related:Winkdex Bitcoin Index Debuts
“Bats ranks as the top exchange operator for ETF trading with the Bats Exchanges – BYX, BZX, EGDA, EDGX – executing 24.7% of all ETF trading for the month of April 2016. Bats has been the #1 U.S. market for ETF trading and the #2 U.S. market for overall equities trading for every month of 2016,” according to the Kansas City-based exchange operator.
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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.
“The Winklevoss brothers also plan to use another of their bitcoin-related properties, the Gemini Trust Co., as the bitcoin trust’s custodian, according to the filing. Gemini, which operates a digital-currency exchange, received a trust charter from the New York State Department of Financial Services in October and will hold the bitcoins underlying the trust,” according to the Journal.
Gemini is the third bitcoin-related institution to acquire regulatory approval and the second to be granted a charter by the DFS to a bitcoin-related business. Circle Internet Financial received the first BitLicense and ItBit received a charter last year.
For more information on bitcoins, visit ourbitcoin category. || Leveraged Buyout Corporation Announces Intention to Commence a Tender Offer for Shares of Yasheng Group: VANCOUVER, BC / ACCESSWIRE / August 1, 2016 /Leveraged Buyout Corporation ("LBOC") announced today that it intends to commence a tender offer to the shareholders of YaSheng Group ("HERB") (OTC:HERB) to purchase up to 81,000,000 shares of HERB's Common Stock at a purchase price of $11.00 per share.
The offer will require that each shareholder deliver at least 51 of each 100 share owned.
LBOC targets to own approximately 51% of the issued and outstanding shares of HERB Common Stock.
The offer price of $11.00 per share represents an extraordinary premium over market value for 6 reasons:
1. HERB is trading at a deep discount based on its earnings, and;
2. Payment is in the form of corporate notes that will pay interest in OTCcoin (OTX) a new digital currency that rides on the rails of the Bitcoin blockchain, and;
3. The notes will mature in 10 years with annual interest payable at the rate of 1 OTX per $1 face value.
4. OTX is thinly trading on international cryptocurrency exchange C-CEX
(https://c-cex.com/?p=otx-btc)
1. Notes are to be backed by the shares tendered and held in safe keeping by HERB's transfer agent.
2. LBOC is a newly formed entity.
Important Information about the Tender Offer
LBOC has not yet commenced the tender offer referred to in this press release. This press release does not constitute an offer to buy or solicitation of an offer to sell any securities. This press release is for informational purposes only. The offer to purchase the shares of HERB Common Stock from its shareholders and the solicitation of the shares will be made only pursuant to the offer to purchase and the related letter of transmittal, which are expected to be mailed to HERB shareholders shortly after commencement of the tender offer subject to the rules and regulations of the Securities and Exchange Commission.
About LBOC:
LBOC is a subsidiary of a holding company whose principal holdings include digital currency and related assets. LBOC was formed to capitalize on companies whose market cap is deeply discounted in the markets from the tangible values. As its name reveals it seeks to buy out controlling interests on leverage utilizing cashless financing.
About HERB:
YaSheng Group is a U.S. holding company and conducts business operations in China. The Company, through its subsidiaries, operates in agriculture, livestock, and biotechnology. YaSheng specializes in developing, processing, marketing, and distributing a variety of food products grown in North West China.
This press release contains forward-looking statements based on current expectations that involve a number of risks and uncertainties. The forward looking statements in this press release are also 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, and involve substantial risks and uncertainties. These risks and uncertainties include, but are not limited to, those relating to the contemplated tender offer described in this press release, including uncertainty about the timing of the tender offer, that, if the tender offer is commenced, the conditions to closing the tender offer may not be satisfied, uncertainties as to the amount of shares that will be tendered in the tender offer and LBOC's ownership interest in YASHENG Group following the tender offer, risks relating to the continued listing of YASHENG Group's Common Stock on the OTC Markets Stock Exchange and the continued status of YASHENG Group as an SEC reporting company, and the risk that the expected benefits to LBOC from the tender offer may not be realized or maintained. LBOC cautions that the foregoing factors are not exclusive.
CONTACT :info@LBOCorp.com
SOURCE:Leveraged Buyout Corporation
[Random Sample of Social Media Buzz (last 60 days)]
#MaryJane #MARYJ $ 0.001784 (-1.02 %) 0.00000275 BTC (0.00 %) || 1 KOBO = 0.00000212 BTC
= 0.0014 USD
= 0.4470 NGN
= 0.0195 ZAR
= 0.1418 KES
#Kobocoin 2016-07-30 17:00 pic.twitter.com/X0rNXYaBHe || Try fatguyslim.david at https://LocalBitcoins.com/ad/317390?ch=w7m … only £538.00 per BTC. (BPI +2.84%) #buy #bitcoin #banktrans || 1 #BTC (#Bitcoin) quotes:
$651.02/$652.00 #Bitstamp
$644.30/$645.96 #BTCe
⇢$-7.70/$-5.06
$654.71/$655.00 #Coinbase
⇢$2.71/$3.98 || $752.01 at 11:00 UTC [24h Range: $723.02 - $757.96 Volume: 7105 BTC] || One Bitcoin now worth $654.25@bitstamp. High $665.51. Low $622.00. Market Cap $10.278 Billion #bitcoin || #UFOCoin #UFO $ 0.000028 (0.67 %) 0.00000004 BTC (-0.00 %) || Think about it,do you really think real money will still exist in 2025? Free Bitcoin @ Bitcoinreward! #Bitcoinreward http://www.bitcoinreward.net || #Bitcoin is over $600.00 Maybe it's time to buy some before it goes higher!!... http://fb.me/7fL1pVOjQ || 1 EGC Price: Bittrex 0.00003690 BTC YoBit 0.00003500 BTC #egc #evergreencoin 2016-07-29 08:00 pic.twitter.com/mMIiS3zZ9u
|
Trend: up || Prices: 570.47, 567.24, 577.44, 573.22, 574.32, 575.63, 581.70, 581.31, 586.75, 583.41
|
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 flounders in Australia as regulatory worries bite: By Byron Kaye and Swati Pandey
SYDNEY (Reuters) - Australian businesses are turning their backs on bitcoin, as signs grow that the cryptocurrency's mainstream appeal is fading.
Concerns about bitcoin's potential crime links mean many businesses have stopped accepting it, a trend accelerated by Australian banks' move last month to close the accounts of 13 of the country's 17 bitcoin exchanges.
The development is a blow to hopes of bitcoin fans that the currency can play a significant role in everyday business transactions in developed economies, with Australia once seen as one of its most promising markets. It is estimated to hold 7 percent of the currency's $3.5 billion global value, a sizeable figure in a country of just 24 million people.
"We've got a squeaky clean reputation, and that's actually worth a lot more to us than dipping into this," said James Snodgrass, principal of Sydney's Forsyth Real Estate, which ditched the currency in late 2014 after the firm was investigated by the federal tax office.
Forsyth had offered to collect home deposits and other realtor fees via bitcoin to cater to international buyers. The tax office probe found no wrongdoing but Forsyth was burned by the negative publicity and bailed out before ever taking a bitcoin payment.
Although most mainstream banks in Europe and the U.S. already refuse to keep bitcoin-affiliated accounts, developments in Australia represent the first coordinated shutdown of bitcoin exchanges by a country's banking system.
The move makes it much harder for people to convert regular currencies in to or out of bitcoin, threatening its long-term value.
"It really runs on people using bitcoin, and if nobody uses it then it's worthless," said University of Technology Sydney senior finance lecturer Adrian Lee.
BANK SHUTDOWN
The banks' shutdown appears at odds with a government inquiry which in August recommended removing sales tax for people who buy bitcoin. The Australian anti-money laundering agency, AUSTRAC, told Reuters that banks have no legal obligation to close bitcoin accounts.
The so-called "Big Four" banks - Commonwealth Bank of Australia, Westpac Banking Corp, Australia and New Zealand Banking Group and National Australia Bank - directed inquiries about bitcoin to the Australian Bankers' Association.
Tony Pearson, the association's acting chief executive, wouldn't confirm the coordinated rejection of bitcoin but said in an email that its "lack of transparency and regulatory oversight raises a number of risks for users and also poses risks for the payments system, the integrity of the financial system and the erosion of the tax base".
Australia's organized crime agency has said it is concerned the currency's untraceable nature makes it attractive for money laundering and selling illicit drugs.
In the U.K. and the U.S., most large banks have already cut ties with bitcoin account holders, but lack of industry co-ordination has left room for individual lenders to support the currency, including Germany's Fidor Bank AG, which operates in Britain, and tech-focused Californian lender Silicon Valley Bank.
CLOSE, MOVE OFFSHORE OR SNEAK AROUND
The 13 Australian bitcoin exchanges whose accounts were closed by the banks have shut operations.
The remaining four have had their accounts frozen, and now face three options: close, move overseas or spread their business into several smaller bank accounts to avoid detection by their banks.
Buyabitcoin.com.au, one of the remaining four exchanges, said it is still considering its options.
"It makes it, obviously, hard to take payments from our customers, but we have a couple of relationships left," said Andrew Smith, general manager of the Melbourne-based exchange.
Smith declined to identify which bank his firm is now using from fear of repercussions but said he plans to move the business offshore.
Two sources told Reuters that regional lender Bank of Queensland still held some bitcoin accounts. The bank said in an email that "virtual currencies fall outside of our risk appetite" but did not deny or confirm it had these accounts.
RETAIL PULLOUT
Some industry watchers believe ambivalence may be bitcoin's biggest problem.
At least six Australian retail businesses, which as recently as 2014 courted publicity for offering sales by bitcoin, told Reuters they were considering exiting the currency.
"If governments begin to aggressively attack the whole idea of cryptocurrencies and give it a bad name, it might have an adverse effect on our brand by accepting it," said David Brim, co-founder of off-road vehicle maker Tomcar Australia, which has sold one car using bitcoin since introducing it in November 2014.
Grant Fairweather, owner of the Metropolitan Hotel in Sydney, said he started accepting bitcoin when a group of digital currency fans chose his pub as their regular meeting venue.
"They tell me that it's doing quite well, but that doesn't transpose into here," said Fairweather, who sells about A$100 ($70) worth of drinks via bitcoin from the meetings and does no other bitcoin trade.
An online clothing retailer told Reuters she had made no bitcoin sales since introducing the service in 2013 and asked not to be named, saying "since bitcoin's going out anyway, we'd rather not throw our name back into it".
(Additional reporting by Nathan Lynch in SYDNEY and Jemima Kelly in LONDON. Editing by Jane Wardell and Rachel Armstrong) || 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 || Bitcoin flounders in Australia as regulatory worries bite: By Byron Kaye and Swati Pandey SYDNEY (Reuters) - Australian businesses are turning their backs on bitcoin, as signs grow that the cryptocurrency's mainstream appeal is fading. Concerns about bitcoin's potential crime links mean many businesses have stopped accepting it, a trend accelerated by Australian banks' move last month to close the accounts of 13 of the country's 17 bitcoin exchanges. The development is a blow to hopes of bitcoin fans that the currency can play a significant role in everyday business transactions in developed economies, with Australia once seen as one of its most promising markets. It is estimated to hold 7 percent of the currency's $3.5 billion global value, a sizeable figure in a country of just 24 million people. "We've got a squeaky clean reputation, and that's actually worth a lot more to us than dipping into this," said James Snodgrass, principal of Sydney's Forsyth Real Estate, which ditched the currency in late 2014 after the firm was investigated by the federal tax office. Forsyth had offered to collect home deposits and other realtor fees via bitcoin to cater to international buyers. The tax office probe found no wrongdoing but Forsyth was burned by the negative publicity and bailed out before ever taking a bitcoin payment. Although most mainstream banks in Europe and the U.S. already refuse to keep bitcoin-affiliated accounts, developments in Australia represent the first coordinated shutdown of bitcoin exchanges by a country's banking system. The move makes it much harder for people to convert regular currencies in to or out of bitcoin, threatening its long-term value. "It really runs on people using bitcoin, and if nobody uses it then it's worthless," said University of Technology Sydney senior finance lecturer Adrian Lee. BANK SHUTDOWN The banks' shutdown appears at odds with a government inquiry which in August recommended removing sales tax for people who buy bitcoin. The Australian anti-money laundering agency, AUSTRAC, told Reuters that banks have no legal obligation to close bitcoin accounts. The so-called "Big Four" banks - Commonwealth Bank of Australia, Westpac Banking Corp, Australia and New Zealand Banking Group and National Australia Bank - directed inquiries about bitcoin to the Australian Bankers' Association. Tony Pearson, the association's acting chief executive, wouldn't confirm the coordinated rejection of bitcoin but said in an email that its "lack of transparency and regulatory oversight raises a number of risks for users and also poses risks for the payments system, the integrity of the financial system and the erosion of the tax base". Story continues Australia's organized crime agency has said it is concerned the currency's untraceable nature makes it attractive for money laundering and selling illicit drugs. In the U.K. and the U.S., most large banks have already cut ties with bitcoin account holders, but lack of industry co-ordination has left room for individual lenders to support the currency, including Germany's Fidor Bank AG, which operates in Britain, and tech-focused Californian lender Silicon Valley Bank. CLOSE, MOVE OFFSHORE OR SNEAK AROUND The 13 Australian bitcoin exchanges whose accounts were closed by the banks have shut operations. The remaining four have had their accounts frozen, and now face three options: close, move overseas or spread their business into several smaller bank accounts to avoid detection by their banks. Buyabitcoin.com.au, one of the remaining four exchanges, said it is still considering its options. "It makes it, obviously, hard to take payments from our customers, but we have a couple of relationships left," said Andrew Smith, general manager of the Melbourne-based exchange. Smith declined to identify which bank his firm is now using from fear of repercussions but said he plans to move the business offshore. Two sources told Reuters that regional lender Bank of Queensland still held some bitcoin accounts. The bank said in an email that "virtual currencies fall outside of our risk appetite" but did not deny or confirm it had these accounts. RETAIL PULLOUT Some industry watchers believe ambivalence may be bitcoin's biggest problem. At least six Australian retail businesses, which as recently as 2014 courted publicity for offering sales by bitcoin, told Reuters they were considering exiting the currency. "If governments begin to aggressively attack the whole idea of cryptocurrencies and give it a bad name, it might have an adverse effect on our brand by accepting it," said David Brim, co-founder of off-road vehicle maker Tomcar Australia, which has sold one car using bitcoin since introducing it in November 2014. Grant Fairweather, owner of the Metropolitan Hotel in Sydney, said he started accepting bitcoin when a group of digital currency fans chose his pub as their regular meeting venue. "They tell me that it's doing quite well, but that doesn't transpose into here," said Fairweather, who sells about A$100 ($70) worth of drinks via bitcoin from the meetings and does no other bitcoin trade. An online clothing retailer told Reuters she had made no bitcoin sales since introducing the service in 2013 and asked not to be named, saying "since bitcoin's going out anyway, we'd rather not throw our name back into it". (Additional reporting by Nathan Lynch in SYDNEY and Jemima Kelly in LONDON. Editing by Jane Wardell and Rachel Armstrong) View comments || Your Old Credit Cards Now Obsolete. Now What?: (Rob Pegoraro/Yahoo Tech) Something weird has been happening to our wallets: Computers have invaded them, one credit card at a time. This overdue migration from cards with magnetic stripes on the back to EMV cards that add a tiny computer chip on the front reached a semi-important point Thursday: the liability shift, a rebalancing of powers between card issuers and merchants in the U.S. that may change who eats the cost of a bogus transaction. For most of us, Liability Shift Day should be the most boring holiday ever. Only a minority of debit and credit cards have EMV chips (EMV stands for Europay, MasterCard and Visa, the three parents of the system ), and the share of retailers taking chip payments is even smaller. But over time, things will change. Heres how: How exactly do I pay with a chip? Instead of swiping a card with that satisfying flick of the wrist, you pop the card into a slot in a card terminal. Then you leave it there as the chip generates a one-time code (like the three- or four-digit number on your card for online purchases), the terminal processes the transaction, and you sign to complete it. In my experience, that takes a few seconds longer than a mag-stripe cardassuming the stripe was able to read on the first try, which we all know doesnt always happen. Where can I pay with the chip? Your chip transactions may be confined to major merchants like Walmart, Home Depot, and Target. Its not enough to see a point of sale terminal with an EMV slot; that part may be inactive. For example, my neighborhoods Whole Foods accepts Apple Pay and other phone payments but not EMV. Spokesman Michael Silverman said the chain plans to fix that across its stores
by the end of 2016. A complete upgrade across U.S. retail will take longer. On a conference call Wednesday, Visa vice president Stephanie Ericksen said 314,000 establishments take chip payments, up from 55,000 last Septemberbut thats out of a total of maybe 6 million to 8 million. Story continues How do I get EMV versions of my cards? If you havent already been issued chipped versions of your cardsthose in my wallet reached that blessed state in July youll have to ask your issuer what the holdup is. While you wait, you might as well use that time to shop around and see if you can switch to a card with better cash-back or travel rewards . Will chip cards stop data breaches? Sorry, no. With EMV, your card number and expiration date still get sent in the clear to the store and beyond. If somebody hacks the terminal or the software upstream, they can still go to town with your card. It does not take care of making sure that the data is protected as it travels through the various layers of payment systems, explained Erik Vlugt, a vice president at the payment-processing firm VeriFone . EMV cards also remain usable if lost or stolen unless theyre further secured with a PIN. Thats common with European but not U.S. cards. (More on that later.) So what security problem does EMV actually solve? Chip cards cant be cloned the way stripe cards can. Counterfeiting is a huge problem, accounting for 37 percent of all U.S. credit-card fraud in 2014 second only after card not present theft staged online or over the phone, according to the research firm Aite Group . Crooks have had a clear economic incentive to clone cards, security researcher Brian Krebs noted in a 2014 explainer : A counterfeiter walks into a big box store and walks out with high-priced electronics or gift cards that he can easily turn into cash. Who pays with the liability shift? Definitely not you just like today, fraud isnt your problem as long as you report it. But merchants can pay more, subject to various rules. As National Retail Federation general counsel Mallory Duncan summed up in an e-mail: Whomever has the more evolved equipment (in a counterfeit situation) wins. That is, if the bank issued a chip card, the crook shows up with a counterfeit version of it, and the merchant doesnt process chip transactions, the merchant is liable to eat the cost. But it can get complicated: There are scenarios where both parties accept a certain percentage of the responsibility, MasterCard product-delivery head Carolyn Balfany said over e-mail. Note, too, that retailers already pay for some fraudulent transactions, as you can see in Visas chargeback rules . In turn, all of us pay in the form of slightly higher prices, same as we collectively pay for the shrinkage of shoplifting and employee theft. What if a store doesnt take EMV? Good luck judging a stores security, although some modern payment gadgets like Squares card readers do encrypt card numbers automatically. If you can use your phone to pay for things, do it. Apple Pay and Android Pay do tokenization, meaning they generate a new card number for each transaction. Or you could pay with cash, Bitcoin , bartered chickens , or any other mutually agreeable medium of value. What about chip-and-PIN? You may have read that chip-and-PIN cards are more secure because you have to type a number matching the one stored on the chip. But thats not why they exist: When EMV cards arrived in Europe, many establishments didnt have online access to verify transactions with issuers and so needed authentication that worked offline. U.S. banks have avoided PIN because, hey, who wants to remember another number? (A few months ago, Underwriters Laboratories innovations director Maarten Bron said hed seen too many chip-and-PIN holders write down their PIN on the back of their cards .) International travelers have complained that signature EMV cards dont work at kiosks in Europe. Visas rules now require those unattended terminals to waive the PIN; it says that in a recent test across five EU states, 90 percent of signature-card transactions worked . So how do we stop online fraud? Payment-processing systems can ensure they have nothing worth stealing by not keeping card numbers intactwhat Visa calls devaluing that data. In that respect, the slow adoption of EMV security could give lagging merchants a chance to jump to an Apple Pay level of security. Said PCI Security Standards Council chief technology office Troy Leach: Were hoping that they buy the next generation of security, which is encryption and tokenization. I hope hes right. But I wont be too surprised if five years from now, a shop with connectivity issues still has to dust off a knuckle buster card imprinter to take my payment on a slip of carbon paper. Email Rob at rob@robpegoraro.com ; follow him on Twitter at @robpegoraro . || Time-Release Capsules Make Medical Marijuana More Approachable: Colorado-based Wana Brands got its start making edible marijuana products. When using pot became more and more socially acceptable across the United States, the company recognized that there was a large percentage of the population that would be interested in trying the drug, but not smoking it. The company's edibles make marijuana less intimidating for non-smokers and appeal to a wider range of customers. Medical Marijuana With medical marijuana gaining legalization in several states across the US, Wana Brands looked to create a new product that would similarly make medical marijuana use more approachable for those who had little or no exposure to the drug. To fill that gap, the company has developed an extended release pill that delivers doses of the drug to a patient's system over the course of 12 hours. Each capsule contains two measured doses; one that takes effect soon after ingestion and another that activates several hours later. Related Link: Technology Proves Invaluable For Marijuana Industry Making Pot More Medical The capsules, Wana owner John Whitman said, are a good way for the medical marijuana industry to change its image and be considered as a serious treatment option. Many people are skeptical about marijuana use for treating diseases because most of the delivery methods appear recreational. Eating a pot brownie to cope with muscle spasms or smoking a joint to deal with anxiety can make potential patients skeptical about the drug's benefits. However, time release capsules make marijuana treatments more comparable to being prescribed a traditional medicine. Many believe that products like this one and could help propel the medical marijuana market into more states. See more from Benzinga Greeks Begin To See An Opportunity In Bitcoin LendingRobot And Lending Club Aim To Automate Investing Donald Trump Making Powerful Enemies In Silicon Valley © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || GreenBank Subsidiary GreenCoinX Enables XGC to Trade on 15 Crypto Currency Exchanges: TORONTO, ON / ACCESSWIRE / September 14, 2015 /GreenBank Capital Inc (CSE:GBC) ("GreenBank") announces that its 80% owned subsidiary GreenCoinX Inc, the developer of the world's first identifiable crypto currency, and which has XGC as its digital currency identifier, and Crypto Next PLC an international crypto currency exchange with a "white label" exchange platform that has 14 affiliated exchanges, have agreed that XGC will be added on the Crypto Next platform and as such can be traded on all of its affiliated exchanges.
Crypto Next is based in the Isle of Man, and its exchange affiliates provide digital currency exchanges in multiple languages, multiple currencies, and with secure policies in accordance with Isle of Man regulations.
The exchanges that can now trade XGC are:-
Crypto Next —www.cryptonext.netCoinQX —www.coinqx.comCoin Cloud Ex —www.coincloudex.comBirja Monet —www.birjamonet.comAltbitex —www.altbitex.com
The Crypto Next affiliated exchanges that have yet to complete their review process with respect to trading XGC are:-
BitcoinX Romania —www.bitcoinxromania.comUniiFund —www.unii.fundStock Digital Coin —www.stockdigitalcoin.com.brTarge Exchange —www.targoexchange.comDollar exchange —www.edollar.internationalBitcoins Greece —www.bitcoinsgreece.comBitopia —www.bitopia.ioBanx Trade —www.banxtrade.comSchilling —www.eschilling.orgKoruna —www.koruna.in
As more crypto currency exchanges determine to trade XGC, GreenCoinX will make further announcements.
About GreenBank
GreenBank is a merchant banking business investing in Canadian small cap companies. Its 80% subsidiary GreenCoinX Inc. is a software company that has developed the world's first identifiable crypto currency. Its 100% subsidiary GreenBank Financial Inc. is an investment bank focusing on small cap companies. GreenBank has an investment portfolio with significant equity stakes in Leo Resources Inc (CSE:LEO), Hadley Mining Inc (CSE:HM) and Zara Resources Inc (CSE:ZRI).
For more information please seewww.GreenBankCapitalinc.comor contact Danny Wettreich at (647) 931 9768 ordw@GreenBankCapitalinc.com.
About Crypto Next
Registered in the Isle of Man, a jurisdiction that is openly friendly towards digital currency companies, Crypto Next's platform has a global reach and offers a variety of languages, with recent additions including Portuguese and Romanian. In addition to providing multiple languages, multiple currencies, banking facilities and a regulatory framework, the Crypto Next platform adds security through vertical decentralisation as well as Isle of Man regulations that state that funds in the exchange be controlled by a Corporate Service Provider, such that fiat currencies in the network are secured by an independent third party. Crypto Next specialises in providing a software platform to "white label" exchanges, that can choose from a variety of features, coins and languages to suit their preferences. All the exchanges in the network share Crypto Next's unique tokenised fee system, whereby transaction fees can be paid for with the Crypto Next Coin (CXC), potentially saving savvy digital currency traders a great deal in fees. All white label exchanges are subject to the company's rigorous AML, CFT Policy in accordance with Isle of Man regulations. More information about Crypto Next is available atwww.cryptonext.net.
For press contactpress@cryptonext.netor USA +1 323 686 3359 or UK +44 870 471 5733.
Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of GreenBank Capital Inc., raising additional capital and the future development of GreenCoinX. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and the company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
The CSE has not reviewed, approved or disapproved the content of this press release.
This news release is not for distribution or dissemination in the United States of America
SOURCE:GreenBank Capital Inc || Buying the dip? Consider these 5 stocks: Amid increased market volatility, investors looking for value should keep their eyes on five stocks trading at a discount, CNBC's "Fast Money" pros said. Microsoft (NASDAQ: MSFT) has traded between $40 and $50 a share over the last year. "I think you probably buy it at $40 and sell it at $50," Dan Nathan said. "There's been a premium built in to Microsoft over the last year since Nadella took over," he said. Nathan noted that there's a lot to be optimistic about, but urged investors to be mindful that it is tied to the turbulent PC market. Tim Seymour said he sees upside potential in the aerospace products manufacture United Technologies (NYSE: UTX) . "Granted China could get worse... but I think these guys are turning the ship after what was a selloff that was even kind of pre-China," he said. But if you really want to know when the China-driven selloff is over, keep an eye on Apple (NASDAQ: AAPL) . Once investors start pilling in on Apple, it means they "fundamentally believe that maybe iPhones are going to surprise," to the upside because everyone has factored in that China, where the iPhone gets most of its profit from, is really hitting a wall, Steve Grasso said. "Maybe they will surprise us. Maybe it's not the watch, maybe it's Apple T.V. as people are suspecting. ... But if the story has fundamentally changed than you just gotta sell Apple and I don't think we're there yet," he added. Brian Kelly is betting on Goldman Sachs (NYSE: GS) to weather the current market storm because "they are gonna be the ones to benefit from this market volatility. "On this list, Goldman Sachs is the way to do it, at least, for the next couple of months," he said. Cisco (NASDAQ: CSCO) is a Dow stock that you buy at a discount, while it's near 52-week lows, Brian Kelly said. "Here is a Dow stock that trades at 10.5 times next year's expected earnings [with a] 3.25 percent dividend yield [and] half that market cap is in cash here," Kelly said, citing the company's recent management changes as additional tailwinds. Story continues Disclosures: Tim Seymour Tim Seymour is long AAPL, T, BAC, DIS, F, GE, GM, GOOGL, INTC, JPM, TWTR, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO. Dan Nathan Dan is long QQQ Oct put spread, XBI sept put spread, TWTR, PG. Brian Kelly Brian Kelly is long BBRY, TWTR calls, Bitcoin, U.S. Dollar; he is short British Pound, Euro, Ruble, Yen, Yuan, US Treasurys. 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 BP, COP, CVX, FCX, OXY, RIG, AMZN, MAT His kids own EFA, EFG, EWJ, IJR, SPY. More From CNBC Top News and Analysis Latest News Video Personal Finance || Bitcoin May Be Flailing, But Blockchain Is On The Rise: Bitcoin has suffered from several high-profile scandals which have branded the cryptocurrency as a tool for criminals and given the public reason to question its safety. However, blockchain, the ledger-like technology that bitcoin runs on, has been touted as one of the most important technological advances of the past decade. Many believe that although bitcoin may eventually die out, blockchain will continue to gain support as more and more industries find use for the technology.
Blockchain Not Bitcoin
On Tuesday at Bloomberg Markets Most Influential Summit, blockchainreceived a nodfrom Blythe Masters, the CEO of Digital Asset Holdings. Masters remarked that while bitcoin was of no interest to her, blockchain had the potential to transform the finance space. Blockchain has been suggested as a way to revamp financial markets and make transactions faster and more streamlined, something Masters says is an important trend to watch.
Related Link:Charlie Shrem Weighs In On Bitcoin From His Prison Cell
Support From The Finance Industry
Masters isn't alone in thinking blockchain has potential, a recent survey by Greenwich Associates showed that the majority of finance professionals agree. When asked whether blockchain can continue to thrive without bitcoin, 73 percent of the 55 participants said "yes." That attitude suggests that although bitcoin is struggling to gain mainstream approval, blockchain is already being considered a viable option for finance firms looking to improve their operations.
Several Applications
While financial markets have been at the forefront of discussions about the use of blockchain, other industries also see the technology as a potential game-changer. Blockchain would be able to facilitate online auctions as well as create smart contracts, something that could be applicable in several sectors.
See more from Benzinga
• Fuel Surcharges Give E-Commerce Firms More Reason To Be Creative About Logistics
• Tech Firms Caught Between Privacy And Law Enforcement
• Gemini Prepares To Open Its Doors
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Digital-Based Markets Ramp Up in 2015, Lead By Under-the-Radar Gems: SALT LAKE CITY, UT / ACCESSWIRE / August 25, 2015 /In 2015, digital-based markets have emerged as standard bearers across the entire financial landscape. Mobile gaming, in particular, has stood out as a front-runner in the digital sector, with mobile games projected to gross between 20 and 30 billion this year alone. These games can be programmed and sold inexpensively allowing mobile gaming companies to thrive thanks to low production costs and budget expenses. Meanwhile, in-app purchases often entice consumers to spend ever-increasing amounts for digital content. When a new, free-to-play mobile game goes viral, but offers numerous in-game purchases, total revenues resulting from a single game can be substantial.
While the viral, swift dominance of the mobile gaming industry isn't news to most, the important thing for investors is the ability to identify which companies have the potential to be the next big thing. One possible candidate isTapinator Inc(TAPM). In the last two trading sessions,TAPMhas experienced big gains, rising over 60% to settle in at .255 per share. The company continues to crack Google Play's lists of the most popularly downloaded mobile games, and Tapinator's recent financial and operating results demonstrated quarterlyrevenues that grew 172%year-over-year and 49% quarter over quarter. Tapinator was also able to eliminate all previously outstanding debt via a financing transaction that improved the company's liquidity.
This is the company's fifth quarter in a row with substantial revenue growth. Coupled with a consistent schedule of newly released games, such as the extremely popularBurn It Down, which became a Top 50 iOS game, Tapinator appears to be on the right track for sustained long term growth. Average new daily downloads are up 268% year-over-year and 139% sequentially. In this industry, that kind of activity can only be achieved through strong word-of-mouth marketing and customer loyalty, which are the keys to producing the next big game to go viral.
Also making waves in the digital sector isAvra, IncDigital Currencies(AVRN). Like Tapinator, Avra is a potential new leader in their field that has also experienced recent gains. The company saw heavy volume on Friday that raised its stock up 27%, even despite downward trends in the Dow and Nasdaq figures for that particular session. Avra aims to be one of the first major players to bring one of the internet's biggest phenomena bitcoin to the masses.
Bitcoin is a digital currency traded online to make payments and buy merchandise. It exists without the regulation of a centralized banking system, which allows for lower fees, faster service, and less hassle. Avra's systems specialize in the use of bitcoin for the purpose of travel-based purchases in popular tourist stops like casinos, hotels, and airports. The locations targeted by the company are frequented by a tech-savvy demographic that falls between the ages of 21 and 35. Using bitcoin for their purchases allows for an easy, quick, and safe method of payment for customers who tend to be pressed for time and seeking an easy payment method.
Ekso Bionics Holdings, Inc.(EKSO)is another new player in digital technologies with a product that has potential to break into a number of markets like healthcare, military, and consumer. Trading at 1.10 per share with an average volume of 731K, the company manufactures wearable bionic exoskeletons that increase human strength, endurance, and mobility - a product with multiple purposes such as aiding the disabled or increasing the efficiency of military tactics. The company has gained traction recently with a software upgrade earlier in the summer, and its CEO appearing on FOX Business Network at the beginning of August.
For investors interested in TAPM or EKSO, a company with a similar profile isAnavex Life Sciences Corp(AVXL), a clinical-stage bio pharmaceutical company with a varied portfolio of potential drug candidates to treat CNS disorders such as Alzheimer's. AVXL trades at 1.46 with a market cap of over 175M.
With multiple industries driving toward digital products and services, the tech giants of today could soon be yesterday's news, supplanted by young companies on the rise like Tapinator, Inc. or Avra. Mobile gaming in particular is one of the most exciting, rapidly moving sectors on Wall Street. A stock like TAPM could be the seed that fuels growth for investors.
DISCLAIMER:
Seraphim Strategies is a third party publisher. Not a registered broker/dealer/analyst/adviser, holds no investment licenses and may not sell, offer to sell or offer to buy any security. Market updates, news alerts and corporate profiles are not a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is not to be interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. For full disclaimer please readhttp://tomorrowsbluechips.com/disclaimer/This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E 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 as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements.
SOURCE:Seraphim Strategies || 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
[Random Sample of Social Media Buzz (last 60 days)]
Current price: 153.75£ $BTCGBP $btc #bitcoin 2015-09-30 01:00:02 BST || Current price: 158.88£ $BTCGBP $btc #bitcoin 2015-10-06 11:00:05 BST || 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 || Current price: 144.87£ $BTCGBP $btc #bitcoin 2015-09-01 23:00:04 BST || Current value of DOGE in BTC: Cryptsy: 0.00000058 -- Volume: 118604192.04569688 Today's trend: stable at 08/19/15 00:55 || Current price of Bitcoin is $221.00 See you again in an hour! #bitcoin #crypto || One Bitcoin now worth $230.00@bitstamp. High $231.50. Low $228.13. Market Cap $3.369 Billion #bitcoin || LIVE: Profit = $184.17 (1.69 %). BUY B40.81 @ $265.00 (#BTCe). SELL @ $266.91 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org || buysellbitco.in #bitcoin price in INR, Buy : 16681.00 INR Sell : 16165.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || In the last 10 mins, there were arb opps spanning 12 exchange pair(s), yielding profits ranging between $0.00 and $256.96 #bitcoin #btc
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Trend: up || Prices: 245.31, 249.51, 251.99, 254.32, 262.87, 270.64, 261.64, 263.44, 269.46, 266.27
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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 2017-02-21]
BTC Price: 1115.30, BTC RSI: 72.30
Gold Price: 1237.50, Gold RSI: 64.36
Oil Price: 54.06, Oil RSI: 57.66
[Random Sample of News (last 60 days)]
Traders talk what to trade near Dow 20K: The " Fast Money " traders weighed in on which stocks to buy as the Dow Jones industrial average (Dow Jones Global Indexes: .DJI) neared 20,000 on Friday coming within 1 point of the psychologically-significant milestone. Trader Brian Kelly shocked the desk by revealing he bought more Tesla ( TSLA ) shares on Friday. The reasoning behind the trade, he said, is that Tesla isn't a "car company." Kelly explained that Tesla represents a "bigger-picture play" where the stock will benefit from the "decarbonization" of the electric gridor the shifting away from the use of fossil fuels to generate electricity. Trader Guy Adami agreed that Tesla's stock has "a lot of room to the upside." Shareholders from Tesla and SolarCity both approved a merger between the two companies, with Tesla paying $2.6 billion to acquire the struggling solar energy company. At the time, Tesla said it expects SolarCity to add more than half a billion dollars in cash to Tesla's balance sheet over the next three years. Trader David Seaburg said he likes Amgen ( AMGN ) , saying there are a several "near-term triggers that could take the stock a lot higher." He sees shares of the biopharmaceutical company growing at least another 10 percent by the end of January. One major decision to keep an eye on, he said, is the possible expansion of the PCSK9the drug involved in a recent legal battle between Amgen and Sanofi and Regeneron Pharmaceuticals . Sanofi and Regeneron hav e 30 days to appeal the ruling in Amgen's favor. Trader Steve Grasso said he hasn't been picking individual stocks lately, instead deciding to invest in broad ETFs. If pressed to pick an individual stock, he said Amazon ( AMZN ) is an attractive choice because of its upcoming earnings release on Feb. 2. CNBC's Robert Ferris contributed to this report. Disclosures: STEVE GRASSO Steve Grasso's firm is Long: VIRT, WDR, FCX, ICE, KDUS, MJNA, MSFT, NE, RIG, TAXI, TITXF, WDR, ZNGA, COG,CUBA, ICE, MJNA, TITXF, AGN, BIIB, REGN, SPY, GLD. Grasso is Long: CHK, EVGN, KBH, MJNA, MON, MU, OLN, PHM, SPY, SQ, TWTR, EEM, GDX. Grasso's Kids Own: EFA, EFG, EWJ, IJR, SPY. No Shorts. Story continues 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. An employee of Cowen and Company, LLC serves on the Board of Directors of Diamond Offshore BRIAN KELLY Long: FCX, TSLA, TLT, US Dollar, UUP, SLV, 10 Year Bonds, Bitcoin; short: Euro, Aussie Dollar, British Pound GUY ADAMI Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. || Monday Hot Reads: Possible Surprises For Investors In 2017: Compiled by ETF.com Staff Possible Surprises For Investors In 2017 (BlackRock Blog) Nothing is for certain, so don't place too much weight on market expectations. As Bitcoin ETF Nears, Analysts Warn Of Trading Frenzy (Wall Street Journal) An easily accessed ETF that tracks the value of bitcoin could cause money to flood in to the fledgling bitcoin market, analysts say. Which Assets Are Most Likely To Survive The ‘System Reset’? (ZeroHedge) Your skills, knowledge and social capital will emerge unscathed on the other side of the reset wormhole; your financial assets held in centrally controlled institutions won’t. US Bears Are Targeting Euro-Area ETF Like Never Before (Bloomberg) A record 95,350 put options on the SPDR Euro Stoxx 50 ETF ‘FEZ’ changed hands on Friday as a trader bought 45,000 March/May $33 put spreads. Pitting The Bogle Model Against The Yale Model (A Wealth Of Common Sense) The former is likely to outperform the latter in most scenarios and circumstances. When A Blogger Turns Portfolio Manager (InvestorPlace.com) The manager of the AdvisorShares Focused Equity ETF ‘CWS’ receives a fulcrum fee and has "skin in the game." The Value Of Incremental Steps In Your Investment Portfolio (FMD Capital) You never have all the facts to make a perfect decision. You’re only able to see the right answer with the benefit of hindsight. So make portfolio changes in incremental steps to avoid the pitfalls of emotional investing. Recommended Stories 5 Biggest Broad Commodity ETFs Differ In Approach Here’s A Portfolio Based On JP Morgan’s 2017 Outlook Betting On Red: Building A Russian ETF Portfolio Advisors, Due Diligence Crucial To Asset Allocation Swedroe: Tactical Approaches Miss The Mark Permalink | © Copyright 2017 ETF.com. All rights reserved || 7 ETF Areas to Hog the Limelight in 2017: As 2016 comes to a close, Brexit, Donald Trump’s win as the U.S. president and the OPEC output cut deal are clearly the highlights of the year. However, there are plenty of other events that haven’t been able to leave a mark but could prove to be game-changers next year.
In view of this, we intend to highlight a few areas (and their impact on the ETF world) that are likely to draw investors’ attention in 2017.
Oil
The global investing world is expected to be busy analyzing the progress of the OPEC output cut deal since the start of 2017. On November 30, OPEC decided to slash production by about 1.2 million barrels a day from January for six months. Plus, on December 10, OPEC also cut their first deal with non-OPEC since 2001 to reduce output next year.
The pact will likely result in “an aggregate supply cut of 1.7 million barrels a day.” Some analysts like Goldman now believe that oil can scale higher to about $60 early next year from the current $50 plus level.
However, there are people who expect the deal to be not as effective as it seems now. Even if OPEC manages to be true to the deal, U.S. shale oil production will likely gain traction, bringing back oversupply into the market and weighing on oil prices.
All these should keep oil ETFs likeUnited States OilUSO, Brent crude ETFUnited States Brent OilBNO and energy ETFs likeEnergy Select Sector SPDR ETFXLE on investors radar (read: How Effective is the OPEC Deal for an Oil ETF Rally?)
Trump vs Fed
Trump has raised hopes of fiscal reflation and taken stocks to a new height. If he keeps all his promises after taking presidential office and inflationary expectations continue to surge, the Fed might be able to implement the three forecasted rate hikes in 2017 (read: Sole Fed Hike of 2016 Put These ETFs in Focus).
And if the Fed opts for faster rate hikes next year, bond ETFs likeiShares 20+ Year Treasury BondTLT and dividend ETFs likeSPDR S&P Dividend ETFSDY may face pressure. Meanwhile,ProShares High Yield—Interest Rate Hedged ETFHYHG or inverse bond ETFs likeBarclays Inverse US Treasury Aggregate ETNTAPRare poised to benefit (read: Hedged & Inverse Bond ETFs to the Rescue if Rates Rise).
Global Inflation
Inflationary outlook is finally shoring up in developed economies, albeit slowly. Prolonged easy money policies by global central banks, the OPEC move and the Trump effect made it happen. Expectations of a spurt in global inflation are now at the highest level in over 12 years. Global TIPS ETF –PIMCO Global Advantage Inflation-Linked Bond Active ETF ILB– will thus be on the watch list of investors (read: Will 2017 Be a Year of Global Reflation & TIPS ETFs?).
Commodity
Now that’s tricky! If the greenback retains its strength, commodity investing should take a backseat as these are priced in the U.S. dollar. However, several industrial metals should do well on better demand-supply dynamics. This is especially possible given the recovery in the global manufacturing activities including the all-important China, which consumes a major portion of the global industrial metals. So, ETFs likeiPath Pure Beta Aluminum ETNFOIL,iPath Pure Beta Copper ETNCUPM andiPath Bloomberg Tin SubTR ETNJJT will likely grab the spotlight.
Cyber Security
Cyber security breaches are on the rise of late. This has compelled companies to invest billions of dollars annually to counter such attacks. Most recently, the hack on Yahoo which revealed data from over 1 billion accounts once again stressed on the need for cybersecurity and has putFirst Trust NASDAQ Cybersecurity ETFCIBR andPureFunds ISE Cyber Security ETFHACK in focus.
India
India’s pro-growth political changes in 2014 had shaped it into a hot investing zone. Most economic episodes also went in favor of Asia’s third-largest economy, including a drastic fall in inflation arising from the oil price crash and an improvement in current account deficit. Moreover, due to cooling inflation, the Indian central bank (RBI) resorted to rate cuts several times in the last one and a half years.
However, most recently, in order to put a check on tax evasion and counterfeit notes, high-denomination bank notes were withdrawn in India. This resulted in cash crunch and growth forecast cuts by some analysts. Fitch rating reduced India’s GDP forecast to 6.9% from the prior estimate of 7.4% for the current financial year.
But then, Moody's indicated that Indian companies will likely witness “the strongest profit growth over 18 months.” Now it would be interesting to see if India ETFs likeWisdomTree India Earnings ETFEPI can survive the threats from demonetization in 2017 (read: What Lies Ahead for India ETFs?).
Bitcoin
Even if we are yet to have a bitcoin ETF, one is expected to hit the market in 2017. Winklevoss Bitcoin Trust has filed for one to make it easy for investors to bet on this soaring digital currency. As per CNBC, “bitcoin is a very volatile asset” but doesn’t have a strong correlation with other classes. Bitcoin’s value has beaten the $800 mark for the first time since February 2014.
India's demonetization also gave a boost to bitcoin trading volumes. Moreover, trading volumes in China have been solid with the government taking proactive measures against illegal money transfer. With this, investors expect to see an approval of the first bitcoin ETF in 2017.
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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 reportISHARS-20+YTB (TLT): ETF Research ReportsUS-OIL FUND LP (USO): ETF Research ReportsPURFDS-ISE CYBR (HACK): ETF Research ReportsUS BRENT OIL FD (BNO): ETF Research ReportsSPDR-EGY SELS (XLE): ETF Research ReportsPIMCO-GA ILBETF (ILB): ETF Research ReportsIPATH-PB ALUMNM (FOIL): ETF Research ReportsSPDR-SP DIV ETF (SDY): ETF Research ReportsIPATH-BB TIN (JJT): ETF Research ReportsFT-NDQ CYBERSEC (CIBR): ETF Research ReportsBARCLY-INV USTC (TAPR): ETF Research ReportsWISDMTR-IN EARN (EPI): ETF Research ReportsIPATH-PB COPPER (CUPM): ETF Research ReportsPRO-HI YLD IRH (HYHG): 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 || Bitcoin firm gets approval to operate in Switzerland: By Brenna Hughes Neghaiwi ZURICH (Reuters) - Bitcoin wallet provider Xapo said it has received conditional approval from Switzerland's financial market watchdog to operate in the country in a regulatory breakthrough for companies that provide safekeeping for the virtual currency. "After almost two years of substantial effort and investment, Xapo has received conditional approval from the Swiss Financial Market Supervisory Authority (FINMA) to operate in Switzerland," Xapo CEO Wences Casares said in a blog on the company's website. The approval depended on several factors, including membership of a "self-regulatory organization", Casares said, but added that the company was optimistic of meeting the conditions and being able to serve non-U.S. customers from Switzerland. FINMA declined to comment on an individual company's status. Olga Feldmeier, a former managing partner of Xapo who coordinated the Swiss licensing process for the company, told Reuters that Xapo had been designated a financial intermediary, meaning it will not require a costly banking license. Wallet providers like Xapo, which was founded in Silicon Valley, store the private keys that allow clients to access their digital currency funds. While other crypto-currency firms already operate in Switzerland, Xapo's operation as a bitcoin wallet provider had raised questions over whether it required a banking license. A burgeoning industry surrounding bitcoin - a web-based "crypto-currency" that has no central authority, relying instead on a global network of computers that validate transactions and add new bitcoins to the system - has posed questions for lawmakers and regulators. Xapo argued it did not accept deposits. Swiss authorities are eager to secure a leading role for Switzerland while playing catch-up in a rapidly changing financial technology (fintech) landscape. Bitcoin Suisse operates a network of bitcoin ATMs across the country, as well as an online and in-person brokerage for buying and selling bitcoins. But it does not itself store the private access keys that led to questions about whether Xapo was taking deposits. Story continues Switzerland's cabinet in November proposed new light-touch regulations for fintech companies aimed at bolstering business and competitiveness. The proposals include a fintech license, granted by FINMA, for institutions which are restricted to taking deposits of up to 100 million Swiss francs ($99.9 million) and do not lend. Xapo is now in the process of joining a self-regulatory organization required under Swiss anti-money laundering regulations to begin operations, Feldmeier said. (Editing by Adrian Croft) || COLUMN-Trump border tax to pile on China capital flight pressure: James Saft: (The opinions expressed here are those of the author, a columnist for Reuters) By James Saft Jan 12 (Reuters) - The 'border tax' Donald Trump and Republicans are considering will spur capital flight from China, with potentially large repercussions. House Republicans back a plan for a border tax adjustment, discussed at 20 percent, which would impose a levy on imports while granting rebates to exports. While the Republican and Trump plans call for a border tax on all imports as a means to favor domestic production, Trump has also used the term to describe a punitive tax he threatens to levy directly on imports of companies which move production abroad. As ever with Trump, it is highly unclear what he intends or will attempt. Trump has in the past floated the idea of a 45 percent tariff on Chinese imports to the U.S., a higher rate than is being discussed for the border tax adjustment. For China, and for financial markets, this is going to cause trouble, and not just because it would make Chinese and other foreign imports to the U.S. less competitive. A border tax implies a strengthening of the dollar, prompting former Treasury Secretary Lawrence Summers to warn this week of a "spike" in the greenback. All else being equal, which it seldom is, a 20 percent border tax should prompt a similarly large appreciation in the dollar. That won't likely happen, in part because other countries will pile in with their own border taxes or other measures, but the dollar would get a sizable boost. That poses a complex set of problems for China. Global dollar borrowing conditions would become more expensive and, importantly, pressure would intensify on the yuan to weaken in response. "The threat to Chinese stability at a time when it is already having trouble trying to limit capital flight from a new disruption of trade is a legitimate concern," David Levy of the Jerome Levy Forecasting Center said in an interview. "This is not a great time from a Chinese point of view or global stability point of view to have anything that is disruptive to the flow of trade." Story continues One fear is that Chinese yuan owners, anticipating a dollar spike, will try to front-run the effects on the yuan, seeking to move money into other currencies or stores of value, either by following Chinese rules or by skirting them. The yuan, which trades in a band set by China, fell by 6.6 percent against the dollar in 2016 in a self-reinforcing downdraft. CAPITAL FLOATS, USUALLY To be sure, China is not the nation most vulnerable to dollar strength. That honor belongs to emerging market countries which run a current account deficit and must attract dollars for financing. Yet two years of strong capital outflows have depleted China's once, and arguably still, massive foreign currency reserves. China's reserves fell by about $320 billion to $3.011 trillion in 2016, less than the $513 billion decline of 2015 but also despite wide-ranging efforts by China to make capital flight more difficult. Seeking to circumvent capital controls, owners of yuan in China have turned to cryptocurrency Bitcoin, which more than doubled in value between September and Jan. 4. "Spot checks" on Bitcoin exchanges in China by state authorities this week sent Bitcoin down by 12 percent. At any rate, money is eager to leave by any route possible. China still has huge FX reserves, but an IMF adequacy framework implies it needs to keep about $2.7 trillion on hand. At last year's depletion rate we will soon be there, and if a border tax accelerates matters the issue could soon become urgent. Asset management behemoth PIMCO said on Thursday China might float its currency in 2017. Yu Yongding, an influential former advisor to the People's Bank of China, said on Thursday the central bank should set a "bottom line" depreciation level for the yuan in 2017 of 25 percent. Floating the yuan would certainly be a taste of his own medicine for Trump, who has threatened to brand the country a currency manipulator. It would also, however, potentially cause a very strong outflow of capital. Foreign exchange reserves would be preserved but capital flight could become a problem, and a limit on other policies. China is notable in that, with a semi-closed economy and great central control, it has been able to stimulate its way out of various upsets during and after the financial crisis. China may find it has less room to maneuver if capital is leaving, or if the yuan depreciates greatly, with or without a float. Remember too, all of this would be happening in and to China while most of the other emerging markets go through a crisis of similar origin. Regardless of its impact on U.S. exports, a border tax could easily cause massive turbulence in global markets. (Editing by James Dalgleish) || Flow Brings More International News, via Sky News: MIAMI, FL--(Marketwired - Jan 30, 2017) -Flowcustomers will now have even more access to international news with the addition of theSky News HD networkto Flow TV's channel line-up.
Sky Newswas the first24/7 breaking newsnetwork in Britain, and is one of the most respected news outlets in the world. Flow,Cable and Wireless'Consumer brand, recently acquired thefirst and only rightsin the Caribbean to broadcast theaward-winningUK-based news channel. The news channel brings a rich, unprecedentedinternational perspectiveto Flow customers and, like Flow, is driven by a spirit of innovation -- delivering fresh and compelling international news stories from the Caribbean and Latin America to Africa, Asia and beyond.
"The addition of Sky News to our extensive suite of news and other programming reaffirms to our subscribers that they are getting great value, unparalleled content and staying connected to the rest of the world in real time," said Garfield Sinclair, newly appointed President, Flow Caribbean. Sinclair added, "Sky News provides accurate and reliable, up-to-the-minute information about the most significant international events, no matter where it's happening, and the channel can also be accessed anytime, anywhere via our FlowToGo platform."
John Ryley, Head of Sky News, commented: "This is a terrific opportunity to bring our award winning news service and outstanding original journalism directly to a new Caribbean audience via Flow TV for the first time. We are currently available in over 100 million homes in 127 countries around the world and under this agreement with Flow we will extend Sky News officially to the Caribbean market."
Ann Petley-Jones, CEO of Riverhead Investments Ltd., the exclusive distributor of Sky News in the Caribbean basin and Canada, had this to say: "We are proud to be bringing Sky News to Flow and the Caribbean as it is one of the great news companies globally, as evidenced by the large number of industry awards it has received. The fact that CWC/Flow has added Sky News to its impressive lineup is a big win for Caribbean viewers. Sky News is renowned for the quality and impartiality of its news service and Riverhead is delighted to be partnered with such a group."
Flow customers will gettwo months of free accessto the channel after which they have the option to include in their cable package.
About C&W CommunicationsC&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 atwww.cwc.com, or follow C&W onLinkedIn,FacebookorTwitter.
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.
For more information, please visitwww.libertyglobal.com.
Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3103449 || Bitcoin jumps above $1,000 for first time in three years: By Jemima Kelly LONDON (Reuters) - Digital currency bitcoin kicked off the new year by jumping above $1,000 for the first time in three years late on Sunday, having outperformed all central-bank-issued currencies with a 125 percent climb in 2016. Bitcoin - a web-based "cryptocurrency" that has no central authority, relying instead on thousands of computers across the world that validate transactions and add new bitcoins to the system - jumped 2.5 percent to $1,022 on the Europe-based Bitstamp exchange, its highest since December 2013. Though the digital currency has historically been highly volatile - a tenfold increase in its value in two months in late 2013 took it to above $1,100, before a hack on the Tokyo-based Mt. Gox exchange saw it plunge to under $400 in the following weeks - it has in the past two years been more stable. Its biggest daily moves in 2016 were around 10 percent, still very volatile compared with fiat currencies, but markedly lower than the trading of 2013, which saw daily price swings of as much as 40 percent. Bitcoin may have been boosted in the past year by increased demand in China on the back of a 7 percent annual fall in the value of the yuan in 2016, the Chinese currency's weakest showing in over 20 years. Data shows most bitcoin trading is done in China. Bitcoin is used to move money across the globe quickly and anonymously and does not fall under the purview of any authority, making it attractive to those wanting to get around capital controls, such as China's. It is also may appeal to those worried about a lack of supply of cash, such as in India, where Prime Minister Narendra Modi removed high-denomination bank notes from circulation in November. "The growing war on cash, and capital controls, is making bitcoin look like a viable, if high risk, alternative," said Paul Gordon, a board member of the UK Digital Currency Association and co-founder of Quantave, a firm seeking to make it easier for institutional investors to access digital currency exchanges. Though bitcoin is still some way off the all-time high of $1,163 that it reached on the Bitstamp exchange in late 2013, there are now more bitcoins in circulation - 12.5 are added to the system every 10 minutes. Its total worth is at a record-high above $16 billion, putting its value at around the same as that of an average FTSE 100 company. (Reporting by Jemima Kelly; Editing by Peter Graff) || Investors bide their time as Trump prepares to talk—after more tweets: Investors are sitting tight as they wait to hear what President-elect Donald Trump says at his news conference this morning. Stock futures are pointing to a mixed open on Wall Street.
Here are some of the other stories the Yahoo Finance team is covering for you today.
Trump, Russia and BuzzFeedThe focus on Russia’s role in the US presidential election intensified after CNN reported that Trump and President Obama were briefed last week on unverified allegations that Russian operatives claimed to have compromising personal and financial information about Trump. BuzzFeed has gone ahead and published 35 pages of memos. How is BuzzFeed defending publishing unsubstantiated claims while other news organizations hold back?
Tillerson’s ties to Putin, ExxonThe Senate begins confirmation hearings of former Exxon (XOM) CEO Rex Tillerson to be Secretary of State. Much of the attention will focus on Tillerson’s ties to Russian President Vladimir Putin. In prepared remarks, Tillerson says Russia poses a danger, but that Russia’s resurgence happened in the “absence of American leadership, ” and that he will call for open and frank dialogue with Moscow. What will senators think?
Bitcoin’s China slideBitcoin fell by about $50, or 5%, after China’s central bank said it had launched investigations into bitcoin exchanges. The investigations involve possible market manipulation and money laundering. What does this tell us about the volatility of the digital currency? || Bitcoin trading shrivels under Chinese government's glare: By Brenda Goh SHANGHAI (Reuters) - Trading volumes at China's three largest bitcoin exchanges have plummeted after the central bank put the virtual currency market under sharper scrutiny a month ago in a move that coincided with official efforts to stem capital outflows. China had been the world's leading venue for bitcoin trading, with analytics site Bitcoinity estimating that the OkCoin, Huobi and BTCC exchanges had accounted for more than 90 percent of the global bitcoin market on Jan. 11. But data compiled by analytics platform Sosobtc showed the number of bitcoins traded on the three exchanges slumped from 13.6 million on Jan. 6 to just over 120,000 on Feb. 9. The People's Bank of China launched checks into the three exchanges last month and they have responded by saying that they would improve their systems to prevent money laundering and the use of bitcoin to trade against the yuan. On Thursday, the People's Bank of China said it had also warned smaller bitcoin exchanges that it would shut them down if they violated regulations. While the yuan weakened 6.6 percent against the dollar last year, its worst performance since 1994, the bitcoin price has soared to near-record highs. That, and the relative anonymity the digital currency offers, has prompted some market operators to believe bitcoin 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 can buy each year. The three main exchanges have introduced trading fees, stopped allowing margin lending and increased scrutiny of user identities, making it far less attractive for automated, high speed trades which had previously accounted for the lion's share of their business. The absence of trading fees had provided an advantage over overseas rivals earlier, but that advantage has now gone, traders said. Business has virtually dried up on Beijing-based high-speed bitcoin trading platform BotVS, according to chief executive Chen Zhenguo. "With the transaction fees the profits you can get from hedging (Bitcoin) are too low...You might as well put your money in Yu'e Bao," he said, referring to a money market fund run by an Alibaba Group affiliate. Other traders voiced similar sentiments. Cai Wenhao, business manager at Sosobtc, said trading volume levels in China would likely normalize to around those seen on exchanges elsewhere, like the Hong Kong-based Bitifinex and U.S.-based Coinbase. (Reporting by Brenda Goh; Additional Reporting by SHANGHAI Newsroom and John Ruwitch; Editing by Simon Cameron-Moore) || Bitcoin is fighting back: Bitcoin has recouped a good portion of its early losses. The cryptocurrency trades down 2.8%, or almost $26, at $880 a coin as of 11:05 a.m. ET. That's a notable recovery from the drop less than $853 that occurred early in US trade. Bitcoin raced above $915 late Tuesday night but struggle to take out resistance in the $880/$920 area.
The cryptocurrency has had avolatilestart to the year after gaining 120% in 2016, making it theworld's top performing currencyfor a second straight year. It raced to a gain of more than 20% in the opening days of 2017 before rumblings that China was going tocrackdownon trading began to surface.
Then, nearly a week later, China announcedit had beguninvestigating bitcoin exchangesin Beijing and Shanghai on suspicion of market manipulation, money laundering, unauthorized financing, and other issues. When the dust settled bitcoin had lost35% of its value in a handful of days. The price bottomed out after finding support in the $750/$800 area and has managed to fight its way back to the current resistance level.
(Investing.com)
NOW WATCH:Here's how to use one of the many apps to buy and trade bitcoin
More From Business Insider
• Bitcoin is making a comeback
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[Random Sample of Social Media Buzz (last 60 days)]
$1085.30 #bitfinex;
$1058.00 #btce;
$1087.42 #GDAX;
$1078.40 #bitstamp;
$1079.70 #gemini;
Bitcoin Mining: http://bitly.com/2kmoC9o || BTC PAY how to earn bitcoin without mining,bitcoin double multiply. http://ow.ly/qFlp3092XCc || Price in USD 0.0000814168
Price in BTC 0.00000008 || #Blockchain Bitcoin Investor Roger Ver to Push for OKCoin Liquidation in Court http://ift.tt/2kQQKxv via CoinDesk || RT coindesk: The latest Bitcoin Price Index is 814.00 USD http://www.coindesk.com/price/ pic.twitter.com/uNjq2EnBc1 || [AUTO] I am holding 9.97500000 VOX and they are currently worth around 0.00010174 BTC #Voxels || New post: "Deposit bitcoins to earn interest" http://ift.tt/2lVm5ze || One Bitcoin now worth $891.67@bitstamp. High $941.81. Low $875.00. Market Cap $14.348 Billion #bitcoin pic.twitter.com/FB9YXjyvfE || #ChainCoin #CHC $0.000091 (-0.77%) 0.00000010 BTC (0.00%) || $1074.24 at 04:30 UTC [24h Range: $1025.00 - $1074.26 Volume: 10432 BTC]
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Trend: up || Prices: 1117.44, 1166.72, 1173.68, 1143.84, 1165.20, 1179.97, 1179.97, 1222.50, 1251.01, 1274.99
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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.
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[Technical Analysis for 2021-06-23]
BTC Price: 33723.03, BTC RSI: 40.92
Gold Price: 1782.30, Gold RSI: 33.83
Oil Price: 73.08, Oil RSI: 68.96
[Random Sample of News (last 60 days)]
Bitcoin ETF Delays Expected as SEC Investigates Investor Protection: SEC Chairman Gary Gensler told Congress that the crypto market needs more investor protection, likely dampening hopes of a bitcoin exchange-traded fund (ETF) being approved anytime soon.
United States Securities and Exchange Commission Chairman Gary Gensler, speaking to the U.S. Congress, said that the crypto market neededmore investor protection. This may put a damper on hopes for a bitcoin ETF approval happening in the near future.
A bitcoin ETF in the United States would be a major step forward in the market, as it would give users direct access to assets. Currently, there are indirect crypto investment ETFs that users can invest in, but this isn’t direct exposure to crypto.
Greater regulation and investor protection would indeed be a priority for an ETF, as direct access could result in a significant disruption of the market status quo. A lack of protection could hurt new investors, especially as crypto is a volatile asset class.
The SEC said two weeks ago that it would like an additional 45 daysto approveVanEck’s Bitcoin ETF. Since then, VanEck hassubmitted a filingto create an ether ETF. All signs point to the first ETF arriving later than desired.
Other countries, like Canada,have already approvedvarious ETFs. It’s likely that the U.S. will join in this decision soon, but it may be some time before that happens. In any case, with the most recent remarks, it’s unlikely to happen in 2021.
But then again, the U.S. is being extremely cagey about its approach to crypto regulation. Authorities have said little in the way of concrete information, and only in recent months has it been picking up regulatory discussions.
CBDCs, investor protection, general market regulation, and taxation are all on the table. The country’s authorities and agencies are now making tentative efforts to handle the burgeoning space.
The Biden administration, whichappointed Genslerand Treasury Secretary Janet Yellen this year, said it is monitoring the development of China’s digital yuan. Thedigital dollarproject, led by ex-CFTC Chairman Christopher Giancarlo, is another noteworthy effort.
Many countries have looked to the U.S. as an example, but in recent years countries have had to form their own frameworks to support innovation. Those doing so are reaping the benefits of the technological transformation, though it is not without its implementation challenges.
The U.S., meanwhile, has been urged by experts to get a move on. But all the actions and remarks so far indicate that they prefer to make a good decision instead of running headfirst into regulation. || Is Bitcoin Similar to a Pyramid Scam? That's what the same economist who predicted the pandemic says: Every time the world is more divided between those who trustBitcoinas a good investment, and those who do not believe even a bit in it. In the second group is the economistNassim Taleb, who compares the most popularcryptocurrencyto a pyramid scam scheme.
Of Lebanese origin, Taleb is famous for his2007 book 'The Black Swan', where he predicted a possible pandemic, which is already happening. Now, the essayist and researcher also gave his point of view onBitcoin, and it is not encouraging at all.
• It may interest you:Ethereum co-founder predicts that the Dogecoin 'bubble' will burst at any moment and blames Elon Musk
In less than 2 weeks,Bitcoin lost about 26% of its value, perhaps its worst decline in the last year. On April 14, the cryptocurrency reached a record historical price of$ 64,339 per unit. However, this Sunday, April 25,it plummeted to $ 47,777, according to data fromCoinMarketCap.
Image: Behavior of Bitcoin from March 26 to April 26, 2021 according to data fromCoinMarketCap.
Faced with this dramatic loss in value,Nassim Talebassured thatBitcoinis too volatile to be an effective currency and is not a safe protection against inflation.
“Basically, there is no connection between inflation and bitcoin. None. I mean, you can have hyperinflation and Bitcoin going to zero. There is no connection between the two, "said the economist in an interview withCNBC.
• Also read:UK analyzes creating 'Britcoin', its own cryptocurrency backed by the Central Bank
The specialist in predicting possible catastrophes known as'black swans', pointed out thatBitcoinhas characteristics similar to those ofthe Ponzi scheme, a type ofpyramid fraudby stealing money from investors and disguising the scam by channeling returns.
“Something that moves 5% per day, 20% in a month, up or down, cannot be a currency. It's something else, ”Taleb said, calling Bitcoin a“ trick ”and a“ game ”.
Despite his current stance against it, the economist confessed that he was"initially misled" byBitcoin. Thinking that it could eventually become an effective currency, it acquired a few units long ago, but said last February that it was ditching itscryptocurrenciesdue to their volatility.
“I bought it ... I was not willing to have a capital appreciation, but I wanted to have an alternative to the fiat currency issued by central banks: a currency without a government. I realized that it was not a currency without a government. It was pure speculation. It's like a game, (...) I mean, you can create a game and call it currency, ”hesaid.
“If you want to protect yourself against inflation, buy a piece of land. Grow, I don't know, olives. You will have olive oil. If the price collapses, you will have something, ”Taleb added.
“The best strategy for investors is to own things that will produce returns in the future. In other words, you can use real dollars that come out of the company ”, recommended the specialist.
• Also read:6 reasons why Bitcoin will reach a price of $ 90,000 this 2021 || Satozhi, the World's First Proof-Of-Burn Token Concept on Binance Smart Chain: BELMOPAN, BELIZE / ACCESSWIRE / May 13, 2021 /Satozhi launches world's first proof-of-burn token concept on Binance Smart Chain. Satoz, taken from the name of the Bitcoin proposal team, namely Satoshi Nakamoto, was launched in March 2021. Currently, Satoz lives on the Binance Smart Chain as a token that implements the world's first fully proof-of-burn protocol.
Satoz has a maximum total supply of 21 million with a current circulating supply of 10 million, which means that almost 50% of Satoz's circulation has been burned using the proof-of-burn protocol and generates 50 Satoz as a reward every 10 minutes fairly and distributed automatically, carried out by the blockchain without any human intervention.
A popular mechanism that evolved from token burning is the consensus proof-of-burn, which is based on users destroying their tokens to gain mining rights.
Benefits of burning token
In many cases, burning tokens can help stabilize the coin's value and potential price inflation.
"More than half of the supplies have been burned now. With more coins being burned, the price of Satoz will constantly increase, and it is difficult to dump the price of Satoz."
Satoz was redesigned to solve resource problems that have been difficult to achieve. To this day, coin mining has to be done with CPU tools, GPUs, very expensive ASICs with very high electricity costs, and expensive maintenance costs, making it less effective for some miners, which results in increased blockchain transaction fees and confirmation times.
At the time of writing, the price of Satoz was at $ 0.97 and has increased by more than 10,000% in two months. This is because the main developers and the community continue to consistently develop several superior DeFi products, one of which is the Virtual Minting Tool (the first in the world).
About VMT
VMT is a very unique project that only exists inSatozhi. VMT is a minting pioneer in the world of cryptocurrencies and assets. The Virtual Minting Tool (or Virtual Minting Token) is an improved protocol that allows VMT creators to sell their work not only as a digital item or unique value but also as a lifetime mining reward. It can be traded on the VMT decentralized marketplace (VDEX) via the VMT smart contract itself automatically. This very unique project and only exists on Satozhi.
Currently, the main developer of Satozhi has launched its own blockchain wallet, Satoz Mobile, which can be downloaded on the Play Store (Android) and will soon be launching on the App Store (iOS). It's compatible with all types of BSC, VMT and NFT tokens and integrates with a built-in DApp browser.
About the future of Satoz
In the future, Satoz will be listed on more exchanges, launch NFT and DeFi projects that can be integrated with other BEP-20 tokens, meaning the Satozhi ecosystem will be supported by all existing Binance Smart Chain developers.
Basically,Satozbrings all the necessary features that users can look for: an easy-to-use website with advanced security and infrastructure that is meant to be used on all blockchains, giving users flexibility and freedom in their investments.
Media Contact:
Company: Satozhi Holdings, LLC.Contact: SatozhiE-mail:dev@satozhi.comWebsite:https://satozhi.com/Twitter:https://twitter.com/satozhiofficialTelegram:https://t.me/satozhitokenGitHub:https://github.com/satozhi
SOURCE:Satozhi Holdings, LLC.
View source version on accesswire.com:https://www.accesswire.com/647230/Satozhi-the-Worlds-First-Proof-Of-Burn-Token-Concept-on-Binance-Smart-Chain || Coinbase Backer Parlays ‘Fantasy’ Bet Into $4.6 Billion: (Bloomberg) -- Before his bet on cryptocurrency exchange Coinbase Global Inc. became a multi-billion-dollar exit, Union Square Ventures co-founder Fred Wilson compared Bitcoin to science fiction.
“We may be completely wrong, it may be a fantasy,” he said at a marketing conference in May 2013. That was shortly after he had invested $2.5 million in Coinbase, the U.S.’s biggest cryptocurrency exchange, where people can buy and sell Bitcoin and other digital tokens such as Ethereum and Litecoin. “It’s straight out of a sci-fi novel, but sci-fi novels are the best things you can read if you want to invest,” Wilson said. “It’s a gut bet.”
Eight years later, Wilson’s wager became Union Square’s most profitable exit. Earlier this month, Coinbase listed on Nasdaq and soared to $328.28 a share, catapulting the company’s valuation on a fully diluted basis to about $86 billion. That’s a ten-fold increase from its last public funding round in 2018 and valued Union Square’s stake at $4.6 billion by the end of the first trading day.
Wilson will have to listen carefully to his gut to navigate the volatile cryptocurrency market and Coinbase’s rocky debut. But the large volume of cryptocurrency trading is good for boosting Coinbase’s revenue, and Bitcoin has been rallying again after hitting its lowest level since early March. Wilson has said that “one of the hardest things in managing a venture capital portfolio is managing your big winners.” On the day of the Coinbase listing, Union Square Ventures sold 4.7 million shares for $1.8 billion, according to securities filings.
Coinbase isn’t Wilson’s first foray into a nascent technology trend but it’s certainly the largest payout. His New York-based venture capital firm has invested in more than 100 businesses and has had 10 public exits since the firm’s inception in 2003. Nine of those have reaped billion-dollar valuations on the day of their stock market debut, according to data from PitchBook and Securities and Exchange Commission filings compiled by Bloomberg.
Wilson was an early believer in the social networks that defined the 2010s and oversaw Union Square’s biggest successes, including Twitter Inc.’s $24 billion valuation after the company went public in 2013, boosting the value of the firm’s stake to $1.2 billion, online gaming company Zynga Inc.’s $7 billion IPO in 2011 and Tumblr’s $1.1 billion purchase by Yahoo!.
“Fred is driven by intellectual curiosity,” said Zynga founder and chairman Mark Pincus. “He didn’t get involved for the money.”
Wilson declined to be interviewed for this article saying he doesn’t “think investors should be the focus of attention when the entrepreneurs and management create all of the value.”
Union Square’s latest iteration of its investment philosophy homes in on companies with strong communities that “broaden access to knowledge, capital and well-being,” according to the firm’s website. “Coinbase is at the center of this” said Angela Lee, chief innovation officer at Columbia Business School where she teaches venture capital and leadership courses. “Most venture capital firms deviate from their investment thesis. Union Square is very disciplined. They’re very smart about taking a trend and breaking it into components.”
Wilson began investing in 1987 at Euclid Partners, a small venture capital firm in New York, recalling it “wasn’t a stellar start” to his career, he wrote in his blog in 2008. Then the internet came along. Wilson co-founded Flatiron Partners with Jerry Colonna in 1996 and together they invested $150 million into early stage internet deals that turned into $750 million in the span of three years, according to Wilson’s blog post. “We were undisciplined and not diversified,” Colonna said in an interview. “We were a little too enthusiastic.” Colonna is now the CEO of executive coaching firm Reboot.io, where his work was described in a Wired article as: “This man makes founders cry.”
Flatiron folded in 2001 during the dot-com bust, but Wilson carried those lessons to Union Square, Colonna said. “Fred’s not a Vegas gambler. He doesn’t throw darts at the wall and doesn’t just tag along to other people’s investments.”
Wilson’s belief in connecting ideas, people and experiences on the internet through networks was in motion even before social media startups made it into his portfolio. The native New Yorker’s networking ethos was born out of the post-dot-com bubble era that ushered in early social networking startups or “Web 2.0” companies like Friendster, Orkut and Tribe.net. His views were first put into practice when he started his popular blog, AVC, in September 2003, shortly before he co-founded Union Square with Brad Burnham.
Though his early posts revolved around family, hobbies and music, the blog expanded into tech, business and management and became a vehicle for sourcing investment ideas and connecting with entrepreneurs, he said in a March 2006 episode with Businessweek’s Cutting Edge podcast. “The process of writing helps me crystallize my thoughts about what’s interesting and what’s not interesting, what’s potentially strategic and what’s potentially risky about a particular sector.”
One of Wilson’s earliest musings on cryptocurrency was in 2011, when he wrote that “an alternative currency with roots in peer to peer networks and based on an algorithm that is transparent to everyone is an idea whose time has come.” Union Square’s founding theory of seeking out emerging, fast-growing online communities has since evolved beyond original social media to include other blockchain and cryptocurrency startups like Stacks 2.0, an open network for decentralized apps and contracts on the blockchain, and even CryptoKitties, an Ethereum-based virtual game that allows players to adopt, raise, and trade virtual cats that kickstarted the craze for non-fungible tokens, or NFTs.
Coinbase’s breakthrough listing was the buzziest investment in recent years for Wilson, whose enthusiasm has been more measured compared with crypto evangelists like investor Mike Novogratz or the Winklevoss brothers who started the Gemini digital asset exchange.
In January 2018, Wilson wrote about locking in profits at a time when Bitcoin was taking off. “I know that many crypto holders think that selling anything is a mistake. And it might be. Or it might not be. You just don’t know,” he said. By the end of that year, Bitcoin had plunged over 70%.
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©2021 Bloomberg L.P. || Cosmos plans to accelerate DeFi growth with Gravity: Almost halfway into this year and it’s certainly been eventful. But if you manage to filter out the noise and focus on development in the space, you’ll find many projects like Cosmos that have been making rapid progress. The large and expanding network that includes Binance Coin, Crypto.com, and Terra, now has around $100 billion of digital assets under management. The 240+ blockchains, apps, and services in its ecosystem run on energy-efficient Proof of Stake (PoS). With all the recent fiery debates triggered by Tesla CEO, Elon Musk, that’s a huge point in its favour. As Tendermint co-founder Ethan Buchman replied to Musk’s tweet of May 12 that send the markets into a tailspin, “Cosmos pioneered energy efficient Proof of Stake. We’re the Tesla of blockchains”. @cosmos pioneered energy efficient Proof of Stake. We're the Tesla of blockchains 🌱 🚀 — Ethan Buchman (@buchmanster) May 14, 2021 According to recent calculations by Cosmos , a Cosmos-based PoS blockchain uses less energy per year than Bitcoin and Etherum in a single day. In fact, even 100,000 Cosmos blockchains combined would still use less annual energy than Ethereum alone. Gravity on Cosmos As well as building a real alternative path forward for sustainable blockchain growth, Cosmos continues to deliver on its mission of allowing blockchains to scale and interconnect. Earlier this year, the network launched Stargate and, shortly after, shipped its Inter Blockchain Communication (IBC) protocol allowing for blockchains to interoperate and seamlessly transfer tokens and other data. This was a first for the blockchain industry and potentially a game-changer for its development. As long-time cryptocurrency proponent and ShapeShift CEO Erik Voorhees pointed out, the birth of IBC was “one of the defining events of the year”. Story continues When observers are doing their year end 2021 articles about the crypto industry, they will cite the birth of Cosmos IBC in February as one of the defining events of the year. https://t.co/an6PD7YLm8 — Erik Voorhees (@ErikVoorhees) February 6, 2021 Now, Cosmos is planning to step up its game even further using Gravity to (quite literally) pull DeFi over to the Cosmos Hub. With a combination of the first interchain decentralised exchange, Gravity DEX , built by B-Harvest and Tendermint, and a decentralised and secure bridge to Ethereum (Gravity Bridge) built by Althea Network, Cosmos wants to accelerate DeFi growth and attract billions of dollars of liquidity to the network. Gravity DEX is set to hit the mainnet in the coming weeks with an incentivised testnet competition showing promising results. Using IBC, the DEX allows traders to swap and pool digital assets between any blockchains in the Cosmos network–and beyond. This will make it easy for users to access promising Cosmos tokens such as Akash’s $AKT or Regen Network’s $REGEN that aren’t listed on centralised exchanges. It will also give blockchain developers a faster way to gain price discovery on their tokens; by building a production-ready blockchain with Cosmos’ Starport technology and permissionlessly listing their digital assets on Gravity DEX. Far more liquidity flowing through the Cosmos Hub will greatly increase the utility of its native ATOM token. Tendermint CEO Peng Zhong commented, “A DEX that’s powered and secured by the ATOM is going to encourage new chains to start trading and create liquidity, more traders to start arbitraging, and developers to see that they have a new path to start listing their tokens permissionlessly and getting people to invest… That’s really huge”. A decentralised bridge to Ethereum Beyond the Cosmos ecosystem, of particular note is that work is already underway to connect to major blockchains like Celo and Polkadot. Even more interestingly, however, is the Gravity Bridge to Ethereum, the indisputable home of DeFi, which will open up a wealth of new opportunities for the sector. As CEO of Althea Network, Deborah Simpier, points out, “DeFi is increasingly difficult for retail traders to access. Gravity Bridge is democratising DeFi for everyone”. How so? Well, as the popularity of DeFi has soared in recent months, so too, have the fees required to transact with the Ethereum network. In fact, as many traders know, placing a trade on Uniswap for less than $1000 hardly makes sense anymore due to the punishing fees. Gravity Bridge batches transactions in order to perform cheaper ERC-20 sends, reducing gas fees to a mere fraction of the cost on Ethereum. In fact, the Althea testnet found that an ERC-20 send on Ethereum cost around 30-50K gas/send. Using Gravity, that cost was reduced to 12,793 gas/withdraw. Through the Gravity Bridge and Gravity DEX, Cosmos has a real chance of accelerating DeFi growth even further and enabling everyday people to take part and enjoy its many benefits once again. As Simpier also commented, “Most people have access to the terrible parts of banking… But only the very few wealthy folks actually have access to being able to invest and earn wealth and to leverage their assets for themselves. I think what’s exciting about Gravity Bridge is that it democratises access to financial services… It really brings back that kind of core freedom and empowerment”. With so many plans in the pipeline and many successful initiatives already launched, Cosmos will certainly be one to watch for the rest of this year, especially if you’re looking for a cheaper, more environmentally-friendly way to access the benefits of DeFi. For more news, guides and cryptocurrency analysis, click here . || Market Wrap: Bitcoin Nudges Up as Regulatory Risks Linger: Cryptocurrencies were slightly higher on Wednesday as traders grappled with the likelihood of more regulation. Bitcoin is up about 1.9% over the past 24 hours, giving up about half of Tuesday’s relief rally, suggesting that buyers are starting to take profits. “It’s too early to tell if this is ‘the’ bottom or just a temporary floor before more downside. The lack of any upside catalyst (beside some contrarian oversold metrics) remains the biggest hurdle for cryptos to bounce back,” Elie Le Rest, partner and co-founder of crypto hedge fund ExoAlpha , wrote in an email to CoinDesk. Latest prices Cryptocurrencies: Bitcoin (BTC) $33083.9, +1.52% Ether (ETH) $1923.6, +0.97% Related: Article 7 and Bitcoin’s Latin American Coup Traditional markets: S&P 500: 4241, -0.11% Gold: $1773.9, -0.27% 10-year Treasury yielded 1.489% versus 1.475% on Tuesday “Overall we might witness a range market in July with lower tranches $25,000-$35,000,” Le Rest wrote. Delta Exchange CEO Pankaj Balani doesn’t expect bitcoin to break $30,000 support. “Naked shorts have started to enter the market and the risk of sharp rises due to short squeezes is higher,” he wrote in an email. The risk of further regulatory pressure still looms, however. Related: Bitcoin Relief Rally Fades; Support Holds at $32K “Private unbacked cryptocurrencies like bitcoin may be hogging the spotlight, but the role of regulators and policymakers as key gatekeepers likely limits their potential to catalyze truly transformational change,” JPMorgan wrote in a research note published on Monday. From a macro perspective, bitcoin’s sell-off has coincided with a broader move away from risky assets like stocks and cryptocurrencies over the past two months, as shown by the decline in the copper/gold ratio. Support at $30,000 is critical for bitcoin, although resistance is strong at $40,000. Reach for yield Aside from the slight “risk-off” tone over the past few months, the recent decline in negative-yielding debt could be an obstacle for cryptocurrencies. Story continues The downtrend in global interest rates has encouraged a search for yield as central banks remain committed to accommodative monetary policies. Those easy money policies have benefitted risk assets such as corporate bonds, emerging market debt and more recently cryptocurrencies. “Any evidence that easy money is ending with a more hawkish stance by central banks will likely be a drag for speculative assets,” Santiago Espinosa , a strategist at MRB Partners, wrote in an email. Bitcoin dominance stabilizes Bitcoin’s dominance rate, or the top cryptocurrency’s share of the total crypto market, dropped to under 40% in May, which preceded a near 30% price crash. Since then, the dominance rate has stabilized, suggesting that bitcoin is regaining its luster. “The surge of new altcoins diverted some capital away from BTC and spread it out across small-cap assets, many of which later died out,” Coin Metrics wrote in a newsletter published on Tuesday. The chart below shows a proxy of BTC dominance against roughly 100 of the largest altcoins, using the free float version of market capitalization, according to Coin Metrics. Ether options trade gone bad An ether put options seller lost $3 million by taking a large bet against a sharp drop in the cryptocurrency and ended up booking a massive loss on Tuesday. The trader likely sold the $2,560 puts during the bull run, expecting a continued rally to last at least until the end of the year and thus a steady drop in the option’s price. However, ether peaked above $4,000 on May 12 and fell to $1,700 on Tuesday. “The market moved just enough to force the trader to take a loss by buying back 5,000 contracts of the December expiry $2,560 put option sold earlier this quarter,” Gregoire Magadini, CEO of options analytics platform Genesis Volatility, told CoinDesk in a Telegram chat. The loss underscores that selling options, be it a put or a call, is a strategy better suited to institutions with ample capital supply and high-risk tolerance. Altcoin roundup Privacy coin monero has increasingly become a tool for criminals such as ransomware gangs to demand money from victims, according to a Financial Times article . The cryptocurrency, which was designed to veil senders, receivers and the amount for each transaction, saw its price rise 15% on Wednesday. The cryptocurrency has a market cap of $3.8 billion. “The features monero offers probably land itself for criminals to protect their activities, but ten years ago you read the same thing about bitcoin,” Vik Sharma, CEO of Cake Wallet, told First Mover . “It is a double-edged sword. But again, so is cash. So is bitcoin.” On Tuesday, Polkadot, the token for the smart contract blockchain of the same name, rose by more than 70% in just four hours on U.S.-based crypto exchange Coinbase. However, the price on other exchanges followed the larger market sell-off. A Coinbase spokesperson told CoinDesk the exchange was investigating what happened, and said the price discrepancy of DOT (-1.56%) between Coinbase and other major exchanges was likely due to the “send and receive” function being disabled as part of “the incident.” Relevant news Goldman Sachs Taps JPMorgan’s Private Blockchain for Repo Trade: Report Bipartisan Crypto Bills Pass US House of Representatives – Again 3iQ’s Bitcoin ETF Rises on First Day of Trading on Nasdaq Dubai Other Markets All but one digital assets on the CoinDesk 20 ended up in green on Wednesday. Notable winners as of 21:00 UTC (4:00 p.m. ET): filecoin (FIL) +10.39% tezos (xtz) +7.66% the graph (GRT) +6.13% Notable losers: aave (AAVE) -2.62% Related Stories Grayscale ‘Unlockings’ Poses Downside Risk to Bitcoin Price, JPMorgan Says Suze Orman Says She Bought $5K of Bitcoin Using PayPal – And She’s a HODLer || Breaking Bitcoin: ECDSA vs XMSS: Breaking Bitcoin: ECDSA vs XMSS Bitcoin relies on several algorithms to secure the coin from theft. Prominent among these is the Elliptic Curve Digital Signature Algorithm (ECDSA). An ECDSA employs asymmetric encryption to generate public/private key pairs (what crypto users employ to send and receive coins). Consequently, a classical computer will require at least 10 billion years worth of brute-force computing time to derive a private key from a public key. The advent of quantum computing, however, suggests that this encryption safeguard may soon be broken. Unlike the public cryptosystem RSA , the math behind an elliptic curve algorithm is fairly complex. An ECDSA algorithm solves for an elliptic curve structured algebraically over a finite field. This requires finding a set of points that satisfy an equation using two variables, where one variable generally is an exponent of two and the other is an exponent of three (y2 = x3 + ax + b). Since solving a discrete algorithm is far harder than factoring (given similar-length numbers), elliptic curve algorithms are generally viewed as more secure than previous cryptography (particularly the RSA algorithm). When quantum computing arrives, however, the ECDSA will likely be viewed as cryptocurrencys weak link. The algorithm simply cannot withstand a powerful quantum computer intent on deriving a users private key from their public key. Consequently, any hacker with access to a quantum computer intent on taking your coins will be able to do so. Who's At Risk If ECDSA is Broken? When cryptocurrency users initiate a transaction, they broadcast their public key to the entire world. Until this public key is changed, the users private key remains theoretically susceptible to being deciphered by a quantum computer. Remember, most bitcoin addresses share the hash of the public key rather than the public key itself. Its only after funds are spent that the actual public key is revealed. Story continues This is why its best practice to only use an address once. Doing so means that, even if a public key can be cracked in the future (after a transaction), it results in a private key that doesnt control any funds (because it can only be used once). Its also why many bitcoin wallets take it upon themselves to automatically change a users address with each new transaction. Early Bitcoin Adopters: In bitcoins early days, bitcoin users relied solely on a pay-to-public key script ( known as P2PK ) to conduct transactions. Eventually, new bitcoin users were able to use a hash of the public key for extra protection. As a result, anyone who received bitcoin from mining back then remains at risk (unless they move their funds to a non-P2PK wallet). That means roughly a quarter of all bitcoins (4 million BTC) are potentially vulnerable to a quantum attack ( source: deloitte.com ). The Average Investor: For added security, bitcoin requires each transaction to undergo multiple confirmations after its mined and included in a block. A fast-enough quantum computer could derive a private key from a public key, however, before its mined and confirmed multiple times (before its included in a block). Once successful, an attacker could use the private key to create a new transaction and send funds to his/her wallet. This scenario is not unlike a miner using an advanced quantum computer to take a blockchains mining operations. By speeding up the mining process, an attacker can take majority control ( 51 %) over the total network hash rate (known as a 51% attack ). The attacker could then reverse any previous transactions and conduct double-spending. At present, ASIC mining chips are fairly fast and potentially serve as a firewall against 51% attacks. Related Consequences: Once the ECDSA is broken, banks and internet-related companies will need to update their security protocols. Although these centralized institutions will likely find it a hassle, they wont encounter the same sort of obstacles facing bitcoin. All of the cryptocurrencys nodes would need updating to a new (quantum-resistant) signature scheme. Likewise, all blockchain users would need to move their funds to new quantum-resistant addresses. Crypto users who have lost their addresses will retain funds vulnerable to attack. Unfortunately, no one will be able to distinguish these users from those who simply havent migrated their coins to quantum-resistant addresses. This, in turn, will likely instigate a contentious legal issue ( source: faqq.info ). XMSS: A New Paradigm Shift Quantum Resistant Ledger ( QRL ) appears to be quickly gaining notice among the quantum-aware. The cryptocurrency recently had its XMSS (eXtended Merkle Signature Scheme) standardized and approved by the National Institute of Science and Technology (NIST). Its fairly easy to grasp XMSS, as it's based on another well-known crypto-secure algorithm known as Winternitz OTS+ (One-Time Signature plus). XMSS does not rely on the user to remember whether they have re-used a one-time signature, however. Instead, the QRL web wallet reviews past transactions and automatically uses the number of sent transactions to calculate the current XMSS tree index ( source ). Unlike conventional digital signature schemes, XMSS requires a constant updating of the private key. Consequently, XMSS is known as a stateful hash-based signature scheme. Being stateful, QRL can track each XMSS signature that has been used from the Merkle tree seeded by a private key. As a result, QRL discourages signature reuse --- as it substantially diminishes the private keys security (to the point where a classical computer could break the key). This tracking enables XMSS users to conduct up to 262k possible outgoing transactions. Although thats quite extensive, QRL can also generate iterative OTS trees from a single primary tree key (their tracking system re-generates a new tree as needed). As QRLs documentation explains, this logic goes to the heart of XMSS: XMSS & Ethereum: The QRL team is currently working on a project called EnQlave . An Ethereum web wallet, EnQlave secures a users Ethereum, as well as their different tokens (ERC20, ERC223, ERC721, ERC777, and ERC1155) against a quantum computer attack. In essence, it operates as a long-term storage vault. The technology rests on creating a unique quantum-safe address via a smart contract. Aside from using a standard Ethereum ECDSA signature, EnQlave relies on QRLs XMSS signature as well. Concluding Remarks Given its foundational success, XMSS is likely to become the standard for post-quantum cryptography. Indeed, the publics gradual acceptance of quantum computing as an intractable threat is certainly cementing that reputation. How quickly ECDSA will fade from view because of this reality is a larger question. See more from Benzinga Click here for options trades from Benzinga Royal Caribbean, Norwegian Cruise Line And Carnival Soar In A Mixed Day For The Market Reddit Users Are Now More Interested In Crypto Than Meme Stocks © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Mark Cuban On Why Polygon (MATIC) Is 'Destroying Everybody Else' In Crypto: Billionaire investor Mark Cuban joined executives from leading crypto projects in a panel discussion at the DeFi Summit virtual conference. What Happened: Cuban, who recently confirme d an investment into Ethereum Layer 2 scaling solution Polygon (CRYPTO: MATIC), said that aside from Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), the Polygon network is “destroying everybody else.” Cuban referred to Bitcoin as a store of value and Ethereum as a legacy, saying that these networks are not going away. “Then there’s everybody else,” he said. “Right now, Polygon is destroying those everybody elses (sic).” Highlighting the fact that a lot of these other crypto projects have more than $20 billion in fully diluted market cap, Cuban emphasized that the longer they take to “get out the door and not be vapourware, the greater disadvantage they are going to have.” “We always talk about the crypto winters or these big declines in pricing. We ain’t seen nothing yet,” said Cuban, comparing today’s dynamics to the internet boom between 1995 and 2000. “In every category, there was a ton of competition, but it really was a zero-sum game. Maybe one big winner, and a couple of follow-up number twos, and then the other 90% going out of business (sic).” Read also: What is Polygon (MATIC) Cuban believes that we will see the same thing play out with Layer 1 and Layer 2 solutions on the market today, unless they get momentum. “Now, because of what’s going on with Polygon, where they’re getting so much momentum, it’s going to be hard to catch up.” Price Action: Polygon’s native token MATIC has gained over 9000% year-to-date. At press time, MATIC was trading at $1.50, down 8.69% in the past 24-hours. Image: TechCrunch via Wikimedia See more from Benzinga Click here for options trades from Benzinga Morgan Stanley Adds Another Bitcoin-Focused Fund From NYDIG And FS Investments Dogecoin Community Rushes To Buy DOGE Moon Lamp For © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin price - Live: Tesla investor makes $250k prediction as Goldman plans ethereum options: The price of bitcoin returned above $40,000 on Monday, 14 June 2021 (Getty Images) The bitcoin price is once again surging, pulling the rest of the crypto market up with it. Leading cryptocurrencies, including Ethereum (ether), Cardano (ada) and dogecoin were all in the green at the start of the week, pushing their combined value above $1.75 trillion for the first time since May. The turn-around was triggered by Tesla boss Elon Musk, who tweeted on Sunday that the electric car maker would begin accepting the cryptocurrency again when theres confirmation of reasonable (~50 per cent) clean energy usage by miners with positive future trend. Positive news for Ethereum also helped boost its price on Monday (which is still rising today): Goldman Sachs revealed plans to offer ether options. The investment banking giant already offers options and futures trading in bitcoin but now wants to expand to its next closest rival. You can follow all the latest news, analysis and price predictions right here. Read More El Salvador makes Bitcoin legal tender Bitcoin: Which countries could follow El Salvador by making it legal tender? || Galaxy Digital: Bitcoin Consumes Less Energy Than Banking and Gold: Galaxy Digital has released a report on Bitcoin energy consumption, detailing how it consumes less than traditional financial industries and the value it can bring.
The analysis uses several calculations to ascertain how much energy the Bitcoin network uses and how it stacks up against the banking and gold industries.
In the opening section, the authors note that the energy usage criticisms are not usually applied to traditional industries. It lauds Bitcoin (a carbon footprint that’s been compared toLas Vegas) for being transparent, while incumbent companies are opaque and don’t often disclose their energy footprint.
The authors accept that the Bitcoin network consumes a great deal of energy, but assert that this is exactly what secures the network and makes it so robust. By Galaxy Digital’s calculation, the annual electricity consumption of Bitcoin is estimated to be 113.89 TWh/yr. For some perspective, the energy consumption of always-on devices in the US is 1,375 TWh/yr — 12.1 times that of Bitcoin’s consumption.
The consumption of the gold and banking industries are hard to estimate because of a lack of data on energy usage. This makes it difficult to “have an honest conversation” about Bitcoin’s energy use.
For the gold industry, the analysts took a look at all of the processes involved, including those directly emitting greenhouse gasses, those indirectly emitting them, and emissions stemming from refinement and recycling. Multiplying the total 100,408,508 tCo2 in emissions with the global IEA carbon intensity multiplier, it estimates the total energy consumption of the gold industry to be 240.61 TWh/yr.
The report describes the banking industry as being harder to gauge because it does not directly report electricity consumption data. However, it takes banking data centers, bank branches, ATMs, and card network data centers. With this rough categorization of sources of power consumption, the banking industry’s energy consumption estimate is 238.92 TWh/year — 2.3 times that of Bitcoin.
The report followsTesla’s decisionto stop accepting BTC for payments out of concerns for its energy usage. Bitcoin’s energy consumption has been a narrative thread for years, but only withrecent headlineshas it become a prominent one.
However, the real argument supporting Bitcoin’s energy consumption is that the value it brings can justify it to some degree. Galaxy Digital notes that value is subjective and that the mainstream public is still on the fence about Bitcoin’s utility.
Galaxy Digital’s report considers the arguments posed by detractors, those who see it as complementary to incumbent systems, and ardent supporters. To detractors, it says that Bitcoin can bring financial inclusion and families in economically and politically unstable countries.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: no change || Prices: 34662.44, 31637.78, 32186.28, 34649.64, 34434.34, 35867.78, 35040.84, 33572.12, 33897.05, 34668.55
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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)]
Deep Correction in Restoration Hardware Stock Presents a Buying Opportunity: California-headquarteredRestoration Hardware(NYSE:RH) and RH stock have struggled so far this year. However, value-seeking investors should view this as a chance to take a long position in the high-end furniture manufacturer and seller.
So, why should you consider investing in Restoration Hardware now? For one thing, legendary stock picker Warren Buffett isknown to be an investorin the company. He’s a value investing icon, and Buffett only buys shares of high-quality businesses.
On the other hand, though, you shouldn’t buy RH stock just because Buffett took a stake. You should also apply your own metrics. One commonly used valuation measurement is the trailing 12-month price-earnings (P/E) ratio. In the case of Restoration Hardware, the P/E ratio is 15.19, which is quite reasonable.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
But what about the share price? Lately, it’s been hovering in the $330 range, but it’s been as high as $744.56 during the past 12 months. So, there’s plenty of room for upside here — maybe even enough for a 2x move.
• 7 Long-Term Stocks to Buy for a Robust Retirement
Besides, Restoration Hardware appears to be doing well financially. During the three months ended Jan. 29, 2022 — the company’smost recently reported quarter— Restoration Hardwarereported$902.7 million in net revenue and $147.05 million in net income (unaudited), a decent improvement year-over-year from $812.44 million in net revenue and $130.2 million in net income.
Furthermore, the company observed that it “once again exceeded our adjusted operating margin outlook” during the company’s fourth fiscal quarter, “reaching 25.2% versus 23.7% last year, and up 780 basis points on a two-year basis.”
Those are the kinds of stats that might make Buffett and other value-focused investors happy. On top of all that, not long ago, Restoration Hardware disclosed its intention to execute a three-for-onecommon-stock-share split. In a time of stock-split mania, this should get more investors interested in RH stock.
Therefore, now that you have the scoop on Restoration Hardware, you don’t have to be deterred by the stock’s sharp correction. Instead, you can choose to start a position now in anticipation of a possible move higher.
On the date of publication, David Moadeldid 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 postDeep Correction in Restoration Hardware Stock Presents a Buying Opportunityappeared first onInvestorPlace. || Switzerland Cards and Payments - Opportunities and Risks to 2025: Summary ’Switzerland Cards and Payments - Opportunities and Risks to 2025’ report provides detailed analysis of market trends in the Swiss cards and payments industry.
New York, April 11, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Switzerland Cards and Payments - Opportunities and Risks to 2025" -https://www.reportlinker.com/p05976298/?utm_source=GNWIt provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers, direct debits and cheques during the review-period (2017-21e).The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2021e-25f). It also offers information on the country’s competitive landscape, including market shares of issuers and schemes.The report brings together research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.This report provides top-level market analysis, information and insights into the Swiss cards and payments industry, including -- Current and forecast values for each market in the Swiss cards and payments industry, including debit, credit and charge cards.- Detailed insights into payment instruments including cash, cards, credit transfers, direct debits and cheques. It also, includes an overview of the country’s key alternative payment instruments.- Ecommerce market analysis .- Analysis of various market drivers and regulations governing the Swiss cards and payments industry.- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.Scope- Most payment cards in the country feature contactless functionality. According to an August-November 2020 survey conducted by the Swiss National Bank on payment methods, 92% of Swiss consumers owned a contactless debit or credit card; meanwhile, 60% of contactless card holders made contactless payments using their cards. All major card scheme providers in the country raised the contactless payment limit on their cards from CHF40 ($45.23) to CHF80 ($90.47) in April 2020. Swiss Post’s financial services unit PostFinance further increased the contactless payment limit for its PostFinance Card to CHF100 ($113.08) in August 2021. These increased contactless limits are encouraging Swiss card holders to make higher-value contactless payments, which in turn is boosting card payment usage.- The advent of digital-only banks is likely to further support payment card market growth. In July 2020, challenger bank YAPEAL launched its services in Switzerland. The bank offers a Swiss bank account along with a Visa debit card. In August 2021, it launched youth banking service Yapini for children aged seven and above. Previously, digital-only bank neon launched in the country in March 2019, offering a free bank account along with a Mastercard debit card. In May 2021, neon launched a sustainable bank account called neon green. One tree is planted for every CHF100 ($113.08) spent using the debit card included with the account. N26 also has a presence in the country, offering personal and business accounts along with Mastercard debit cards.- To capitalize on the growing popularity of cryptocurrencies, payment services providers are launching cryptocurrency payment acceptance solutions for merchants.In September 2021, Worldline and Swiss crypto company Bitcoin Suisse launched WL Crypto Payments, an omnichannel crypto payment solution for merchants - allowing Worldline’s 85,000 online and physical merchants in Switzerland to accept Bitcoin and Ether as a payment option across their websites and physical stores.Reasons to Buy- Make strategic business decisions, using top-level historic and forecast market data, related to the Swiss cards and payments industry and each market within it.- Understand the key market trends and growth opportunities in the Swiss cards and payments industry.- Assess the competitive dynamics in the Swiss cards and payments industry.- Gain insights into marketing strategies used for various card types in Switzerland.- Gain insights into key regulations governing the Swiss cards and payments industry.Read the full report:https://www.reportlinker.com/p05976298/?utm_source=GNWAboutReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________
CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001 || Crypto could give Russia several ways to sidestep sanctions — and bitcoin mining powered by embargo-hit energy is just one, the IMF says: A data center at sanctioned Russian crypto miner Bitriver. Alexander Ryumin\TASS via Getty Images Countries like Russia could use the crypto ecosystem to sidestep sanctions in several ways, the IMF has said. Russia could use its embargo-hit energy resources to mine bitcoin for hard cash, it suggested in a report. Laws and regulations for foreign exchange should be amended if needed to cover crypto alongside traditional assets, it said. Russia could use the crypto ecosystem to get around Western sanctions in several ways, the International Monetary Fund has suggested — including by using its embargo-hit energy sources to mine bitcoin. In its recent financial stability report , the IMF laid out how sanctioned countries like Russia could use crypto to their benefit, and advised policymakers around the world to consider amending laws to take crypto assets into account. Russia is grappling with crippling sanctions that have cut it off from the global financial system and the dollar after it invaded Ukraine in late February, and European Central Bank chief Christine Lagarde and others have warned crypto is being used to sidestep the measures. "The war in Ukraine has brought to the forefront some of the challenges that regulators face in terms of applying sanctions and capital flow management measures," the IMF said in the report published Tuesday. "The crypto ecosystem, however, could allow users to circumvent such requirements through several means," it added. One way is to use exchanges and other crypto providers that don't comply with sanctions, or that don't scrupulously carry out due diligence. Using decentralized exchanges or technology such as privacy mixers to make transactions more anonymous is another. Countries should make sure crypto can be brought under the same capital control umbrella as traditional assets, the financial stability watchdog urged. "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," it said. Story continues Bitcoin mining Cut off from the leading foreign currency, Russia could turn to bitcoin mining to generate hard cash from its unwanted energy exports, the IMF suggested. The US has banned Russian energy imports, and pressure is building on Europe to bring in its own oil embargo. Russia is a major player in the oil, gas and coal markets, but many traders have shunned its energy exports in face of the measures. Over time, sanctioned countries could allocate more resources toward evading sanctions through bitcoin mining, the IMF said, echoing warnings made by some analysts . "Mining for energy-intensive blockchains like bitcoin can allow countries to monetize energy resources, some of which cannot be exported due to sanctions," it said. Proceeds from mining on the blockchain are outside the financial system, and so beyond the reach of sanctions, and that miners can also generate revenue from transaction fees, the IMF noted. But it acknowledged the small shares of mining in sanctioned countries such as Russia and Iran, when factored into the amount of mining revenue overall, mean the flows of money involved are contained. Russian miners accounted for 11% of the average $1.4 billion in revenue from bitcoin mining last year, it calculated. The US Treasury, though, described Russia's crypto-mining industry as the third-biggest in the world, as it imposed sanctions on Bitriver on Thursday. It targeted the Russian virtual bitcoin miner and 10 of its subsidiaries in a bid to block avenues of funding the Ukraine war. The war underscores the difficulty regulators face in applying sanctions and measures to manage the flow of capital, according to the IMF. "Crucially, the implementation of such measures requires that intermediaries verify the identities of the transacting parties," it said. It urged policymakers to develop comprehensive global standards for crypto assets and to coordinate their regulatory approach with others around the world. It also recommended "more robust" oversight of fintechs and DeFi platforms. Read the original article on Business Insider || Bitcoin’s value nears $30,000 mark as Luna Foundation Guard liquidates wallet: Bitcoin’s price is down more than 50% from its November 2021 peak and has fallen over 11% today, nearing the $30,000 mark, leaving many investors scrambling to figure out what’s going on.
There are two main factors driving pressure on bitcoin prices right now,Caleb Franzen, senior market analyst atCubic Analytics, said to TechCrunch. “As liquidity gets pulled out of the financial system, risk assets are getting repriced,” Franzen said.
The rising rate environment, paired with weakening economic activity, is creating a risk-off environment, Franzen added. “This is largely why both bitcoin and stocks are falling together. With bonds providing no safe haven, investor sentiment is overwhelmingly negative.”
Again, this adds a recursive element to the market, wherein negative performance leads to negative sentiment, which leads to more negative performance, Franzen noted. “Historically negative performance, historically negative sentiment, and an historical acceleration of yields are the primary driver of the continued selloff.”
A number of market sources are also saying the huge selloff is occurring right now in tandem with the depegging of algorithmic stablecoin TerraUSD (UST) over the past several days.
Terraform Labs (TFL) -- the organization behind UST, cryptocurrency LUNA, and Luna Foundation Guard (LFG) -- emptied its treasury wallet ofall of its bitcoin, about 42,530 bitcoin, or $1.3 billion, today. "That [action could] add meaningful sell pressure on bitcoin and could drag down markets with it," Corey Miller, growth lead at dYdX, said to TechCrunch.
The UST stablecoin has lost its 1:1 dollar peg ratio for the second time in the past three days and dropped as much as 5.3% to 95 cents on Monday, when it should be always held extremely close to $1. The depegging of UST is forcing LFG to liquidate reserves from both LUNA and bitcoin in order to correct the pegging of UST to $1, Franzen said.
But UST is designed to withstand shocks because it’s an algorithmic stablecoin, Twitter user stablechen, a Terra developer,tweeted. “Compare if $UST goes to $0.90 or $1.1 vs $USDT -- the peg bends in one and breaks in the other,” stablechen said. “I blame TFL for creating the wrong expectation with prior posts implying instantaneous peg stability.”
Stablecoins are here to stay, but will they see wider adoption?
Terraform Labs, which is led by its founder, Do Kwon, announced earlier this year that it planned to obtain $10 billion in bitcoin for reserves to “open a new monetary era of the Bitcoin standard.” The funds were supposed to be held in a treasury to back UST in a decentralized foreign exchange reserve to keep the value of the stablecoin at a fixed rate.
Kwontweetedearlier today that it was “deploying more capital,” but provided no further details. He alsotweetedthat “LFG is not trying to exit its bitcoin position,” adding that “the goal is to have this capital in the hands of a professional market maker” so it significantly strengthens the liquidity around the UST peg.
If Terraform Labs is selling its bitcoin en masse into a market that's already selling aggressively, it wouldn't offer peg support,Jack Melnick, a token researcher at The TIE, said to TechCrunch.
“They’re just going to crush prices and keep bleeding,” Melnick said. “Then if they support the price it’s going to let everyone else derisk UST and leave them with no money in the treasury to keep the peg.”
LUNA, the token which backs UST, gets “burned” when its stablecoin deviates from its peg, Melnick said, so it’s trying to keep the price at $1 to protect LUNA from getting burned more, but in turn, it’s causing prices to fall further, what Melnick dubbed a “dubious call.”
Blue-chip NFT owners explore alternative uses as sales decline
“UST failing will have a significant impact on the crypto ecosystem,” Simon Furlong, co-founder and COO ofGeode Finance, said in an email to TechCrunch. “There is over $18 billion (UST's market cap) in UST-related liquidity within the wider DeFi space -- where UST is being used as collateral and in LP positions -- that could be wiped out and cause a ripple effect of negative outcomes throughout DeFi markets.”
As the market is broadly derisking and Anchor rates drop, people care less about the higher yield and more about safety, Melnick noted. (Anchor is a decentralized savings protocol offering low-volatile yields on Terra stablecoin deposits.)
“So they began swapping out of UST to USDC, USDT, which are cash or cash-equivalent backed,” Melnick said.
UST de-pegging will likely weaken the demand for marginal or less popular stablecoins, but it would not spell the end for stablecoins in general, Furlong said. Similar to Melnick’s sentiments, if the UST peg can't be trusted, “we'll see a flight to safety, as users will sell UST for more trusted stable coins like DAI, USDC, etc., which stand to benefit from a scenario in which UST loses its peg,” Furlong added.
UST is currently priced at$0.963392, according to CoinMarketCap at the time of publication.
“With the LFG essentially forced to liquidate BTC to stabilize the stablecoin, we have a major institution dumping thousands of BTC into the market,” Franzen said. “This is essentially an algorithmic margin call.”
Crypto is altering the investing landscape for even the most disciplined VCs || MemeBank Announces Its Airdrop Launch: LONDON, March 31, 2022 (GLOBE NEWSWIRE) -- Recently, MemeBank has announced it airdrop launch. On May 19, 2021, the daily trade volume of cryptocurrencies reached all-time high at USD $516.21bn, marking yet another milestone of the popularization of decentralized finance. As of Q1 2022, there are over 380 crypto exchanges operating around the world, providing small businesses a new channel of financing as well as an under-regulated form of listing. With that said, there are fierce competitions between exchanges as many more want to take a cut in this, and most of them have found it challenging to differentiate their products and services. MemeBank is one of the blackhorses in the industry, a Web3 cryptocurrency exchange laser focuses on the Generation Z investors which just announced its airdrop event on March 15th, 2022. Unlike existing crypto exchanges, MemeBank pledged to become the crypto exchange of the young grassroot investors. For starters, MemeBank distributes 100% of the trading fee back to the community to reward token holders and incentivize trades. What's more? MemeBank recently announced their "Tryer Program", an event novel to the industry which rewards users by the investment losses they make. In a nutshell, MemeBank provides each user a minimum of $10 as startup funds, if a user manages to make a 80% loss of the startup fund in one month, he/she can cashout the full amount of the startup fund. One of the co-founders of MemeBank stated that the Tryper Program is an effort to encourage beginners to participate in trading as many of them usually quit after making the first loss. "At Memebank, users can build their portfolio with our money", he added. MemeBank is not only friendly to investors but to projects who are having a hard time finding listing opportunities. Most large-scale exchanges require redundant application procedures and charge high listing fees that are often unaffordable by startup projects. By comparison, MemeBank charges no listing fees, instead, projects can be listed on MemeBank when it raises a sufficient amount of votes. This allows users to find more investment options with high growth potentials that are not available at most exchanges. Story continues MemeBank looks to achieve a perfect balance between functionalities and convenience. The UIs are simplified to be easy to comprehend with all basic trading functions made available. In addition, MemeBank provides smart trading bots to $MBK holders for free. When users are sleeping, working or studying, the trading bots will work in their stead to track the performance of their holdings. MemeBank's trading bots gather and analyze quantitative measures as well as qualitative reviews and credit scores published by the third parties. Empowered by MemeBank's self-developed AI algorithm, the trading bots can safeguard their portfolio from systematic and most unsystematic risks. When asked about the future plan of MemeBank, the co-founder said, " We will continue working with our investors and media partners to further expand our user-base and project pool". Scrolling through MemeBank's roadmap, we also noticed that an official NFT release is in planning which incorporates an interesting upgrade mechanism. The smart contract of MemeBank's sovereign token, a.k.a $MBK, has already been audited by Certik as of March 15th, 2022. MemeBank is currently offering Free $MBK Airdrop as well as other early-bird benefits. Feel free to take a look at their Free BTC Faucet as well to get a taste of holding Cryptos, MemeBank's Faucet gives away $500 worth of Bitcoins per hour, don't miss out on that. Media Contact Brand: MemeBank Contact: Alec Rubal E-mail: support@memebank.com Website: www.memebank.com SOURCE : MemeBank || Vast majority of the City thinks crypto will go mainstream within a decade: (AFP via Getty Images) Almost 90% of UK financial institutions believe cryptocurrencies will reach mainstream adoption in less than a decade, a new survey has found. That makes UK businesses the most confident in the future of cryptocurrency in Europe, according to the first Bitstamp Crypto Pulse survey, which analyses trust in and adoption of cryptocurrency around the world. Around 70% of the 250 UK companies surveyed, which included banks, hedge funds, pension fund managers and brokerage firms, said they currently trust cryptocurrency products. 67% actively recommend investing in them to their clients. CEO of Bitstamp Julian Sawyer said: In the last few years, cryptocurrencies have moved from the outskirts of the financial ecosystem to find themselves front and centre of mainstream investing, with many of the largest trading venues in the world now catering to both retail and institutional crypto needs. Larger companies, including Paypal , Twitter and Tesla have sought to gain a foothold in cryptocurrencies in recent years, either by accepting them or investing in them. It suggests that it is no longer the preserve of specialist investors. Prices for popular cryptocurrencies including Bitcoin and Ethereum spiked to record highs in November , before dropping back steeply over the last few weeks on the back of rising inflation, geopolitical crises, and change in US monetary policy. Sawyer said: Talking about survival of digital assets is firmly over the question is now about evolution. As well as financial institutions, Bitstamp also polled more than 1,000 UK consumers. It found more than 40% would purchase their groceries and everyday items , as well as shopping online, using cryptocurrencies. But almost half of non-investors said their top reason for not investing was not knowing enough about it. Regulation was also a key concern among UK respondents. More than a third of those not currently investing cited the risk and volatility in the industry while almost the same number felt there was not enough regulation. || British Airways flights resume after IT glitch: British Airways has apologised for chaos at Heathrow for the second time in a month after an hour-long IT glitch led to cancellations and delays.
The airline said a “technical issue” on Wednesday led to flights being grounded. Cancellations on some short-haul flights continued into Wednesday evening.
The problems come weeks after all short-haul flights were cancelled on a Saturday because of another technical glitch.
Staff were dispatched to Heathrow’s departure gates to warn passengers that cancellations and delays were still possible despite the IT failure being rectified.
One employee asked a passenger "where are you going?” before replying: “Oh, that one is probably cancelled."
Customers are urged to check the BA website for information about their flights and cancellations.
One group of travellers at Heathrow were told that all short-haul flights had been cancelled, worried travellers, but those to long-haul destinations were still operating. However, departure boards showed that flights to destinations including New York had been cancelled.
One passenger, hoping to travel home to Amsterdam after a two-day business trip to London UK, said. “At first the staff were very good, they helped me to rebook my flight, but then that one got cancelled too.”
He was hoping to travel on another airline. “if I book a flight with KLM it’s like double the price because it’s last minute … I just want to go home.”
One parent was left waiting for three hours for their son, who is blind, to come through arrivals after his flight from Jersey was forced to wait on a taxiway.
A spokesman for BA said: "We experienced a technical issue for a short time this afternoon which affected our operation at Heathrow Terminal 5. This has now been resolved and we're resuming flight operations. We've apologised to those customers who have been inconvenienced."
That's all from us today, thank you for following! Before you go, have a look at the latest stories from our business team:
• Nigel Farage in line for £16m windfall from green energy company
• UK cannot force ferry operators to pay minimum wage, Grant Shapps admits
• Putin's war sends inflation soaring in Germany and Spain
• Ikea to close north London store putting 450 jobs at risk
• Hackers steal crypto worth $600m from Axie Infinity
Glencore said it will not seek new deals in Russia but will continue its long-standing business ties in the country.
The world's largest commodity trader said “there is no realistic way” to offload its investments in Russian companies. It holds a 10.55pc stake in miner En+ and another 0.57pc in oil firm Rosneft.
Glencore said it will continue to honour legal obligations under pre-existing contracts, subject to meeting any sanctions and where it is “feasible and safe” to do so.
As a growing list of the world’s biggest companies, from blue-chip banks to consumer giants, announce plans to leave Russia, commodity trading houses have quietly continued their business of buying and selling the country’s natural resources.
They have historically been willing to operate in the most difficult jurisdictions and only a handful, including Gunvor Group and now Glencore, have announced they will stop new business in Russia.
Robust commodity stocks and rebounding oil prices kept the FTSE 100 positive on a turbulent day for the markets. The index ended the day up 0.5pc at 7,578.
"Stocks in Europe are retreating this afternoon as investors worry about rising energy costs that will hit consumers hard," commented Chris Beauchamp, chief market analyst at IG.
"While the FTSE 100 has escaped the losses so far today, with UK bills set to head in the same direction there are big questions about whether economies across the continent will be able to avoid a recession.
"Once again rising commodity prices have been the sticking plaster for the FTSE, masking losses across most of the rest of the index."
The Government has turned to a former executive of oil and gas giant BP to help the country cut fossil fuels.Rachel Millardhas more:
Kwasi Kwarteng, the business secretary, has hired Peter Mather, BP's former Head of Country UK, to the board of the department for business, energy and industrial strategy. Mr Mather will oversee work on the "transition to a low carbon economy".
EU officials have raided the offices of Gazprom’s German units as part of a probe into the Russian gas giant’s role in pushing prices in the continent to records, Bloomberg reported.
Officials visited offices of companies such as Gazprom Germania and Wingas, which supplies about 20pc of the German market.
The raid comes as Europe steps up its probe into whether Gazprom’s behavior caused a spike in gas prices and worsened the region’s energy crunch.
Europe has been grappling with an energy crisis since last year, as Gazprom capped additional supplies at a time inventories were already at their lowest level in more than a decade.
British Airways has resumed operations at Heathrow Airport after an IT failure at Terminal 5.
A spokesman for BA said: "We experienced a technical issue for a short time this afternoon which affected our operation at Heathrow Terminal 5. This has now been resolved and we're resuming flight operations.
"We've apologised to those customers who have been inconvenienced."
Meal replacement maker Huel has posted soaring results as demand for its plant-based products has continued to grow.
Revenue in the year to July 2021 climbed 43pc while profits increased nearly three-fold to £2m.
The group, which was launched in 2015, also appointed Robyn Perriss, former chief financial officer at Rightmove, as a non-executive director.
That's all from me today – thanks for following along! My colleagueGiulia Bottarowill take over from here.
Meanwhile, UK ports have hit back at Grant Shapps' request to block ferry firms that failed to pay the minimum wage, arguing it wasn't up to them to enforce rules on pay.
Richard Ballantyne, chief executive of the British Ports Association, said the expectation was "unworkable".
British Airways said it was investigating a technical issue after an IT outage sparked a raft of flight delays.
In a response on Twitter, the airline said: "We're investigating and working hard to resolve a technical issue and apologise for the inconvenience. We will provide further updates as quickly as possible."
The online departure board showed flights at Heathrow were delayed, with a few cancelled.
Reports are emerging on social media of widespread British Airways flight delays due to a systems failure at Heathrow Terminal 5.
It's the latest IT crisis for the airline, which was forced to cancel all short-haul flights due to a technical outage less than a month ago.
Russia has effectively legalised piracy by scrapping copyright laws after a raft of global brands halted sales or stopped exports to the country.
Prime Minister Mikhail Mishustin said Moscow has authorised retailers to import products from abroad without the trademark owner's permission.
He said these "parallel imports" were needed to ensure that certain goods could continue to be shipped to Russia.
"This approach will guarantee the shipment of goods to our country... in spite of the unfriendly actions of foreign politicians."
Russia's retail sector has been upended by western sanctions and decisions by firms such as H&M, Apple and Nike to curb their activity in the country.
Boris Johnson has said G7 countries shouldn't lift sanctions against Russia if there's a ceasefire in Ukraine.
The Prime Minister said this would play "straight into Putin's playbook" and insisted "every single one of his troops" needs to be out of Ukraine.
The Government has asked ports to refuse access to regular ferry services that don't pay workers the minimum wage, as the fallout from P&O's mass sackings continues.
Transport Secretary Grant Shapps told MPs the request was a temporary measure while the Government consulted on legislative changes to make it a legal requirement.
P&O's decision to lay off 800 workers without warning and replace them with low-paid agency staff has sparked a fierce backlash and led to calls for a change of laws.
Mr Shapps also announced several other measure in response to the P&O decision, including his intention to seek international minimum wage corridors with allies to help make sure workers are not paid below the UK rate.
Hackers have stolen cryptocurrency worth about $600m (£456m) from an online game in what is thought to be one of the largest such heists.
Gareth Corfieldhas the details:
The game, Axie Infinity, has its own version of the “blockchain”, the technology that powers Bitcoin, called Ronin.
Read Gareth's full story here
The EU is said to be preparing fresh sanctions against more Russian banks as the West expands its economic crackdown on Moscow.
EU officials are considering hitting four non-sanctioned banks that were removed from the Swift system, including VTB, the Wall Street Journal reports.
It's not thought there are any plans to target Gazprombank or Sberbank, which handle energy payments by European firms to Russia.
It comes as officials also look at broader sanctions on family members of targeted Russian business elites or oligarchs in a bid to stem the movement of assets abroad.
US stocks fell at the opening bell as hopes faded for a de-escalation in the Russia-Ukraine war and investors turned their attention back to inflation.
The S&P 500 and Dow Jones both slipped 0.2pc in early trading, while the Nasdaq was down 0.3pc.
More than 200 of HSBC's small company customers were wrongly told they had to take out a business current account to be able to access a loan.
The Competition and Markets Authority (CMA) found that HSBC breached banking rules over a nine-year period by telling small firms it was a lending requirement to have a business current account.
The move, dubbed "bundling", affected 204 customers relating to 210 loans worth more than £800,000.
HSBC reported the breaches, which took place between 2002 and 2021, to the CMA itself and confirmed it ended them from September last year.
It wrote to affected customers to waive the non-compliance clauses from the relevant loan agreements and has also offered refunds of all the current account fees and charges, while making it clear they do not need to keep the accounts with HSBC to have a loan with the lender.
The CMA has now imposed legally binding directions on HSBC ensuring it takes action to ensure the breaches do not happen again, including improved staff training.
Adam Land at the CMA said:
The rules are clear – banks should not ask customers to open or retain business accounts in order to have a loan with them.
Employment growth at US companies advanced strongly in March, suggesting higher wages are helping firms fill a near-record number of vacancies.
Payrolls increased 455,000 this month following a revised 486,000 rise in February, according to the ADP Research Institute. This was just above the 450,000 increase forecasts in a Bloomberg survey of economists.
The data supports the Federal Reserve's view that the labour market is robust and competition for workers remains intense, with many employers offering higher pay to attract candidates.
It comes ahead of the government's official employment report on Friday, which is set to show private payrolls increased by about half a million in March.
BP is said to have approached state-backed energy firms in Asia and the Middle East as it tries to offload its Russian assets.
The FTSE 100 energy giant has made preliminary approaches to China National Petroleum and Sinopec Group about the planned sale of its roughly 20pc stake in Rosneft, Bloomberg reports.
It's also said to have contacted some potential buyers in the Middle East and gauging interest from Indian firms such as Oil & Natural Gas Corp and Indian Oil.
According to the report, the efforts have gained little traction so far, highlighting the difficulty facing companies trying to sever ties with Moscow.
BP's other option is to strike a deal with Rosneft, either by handing the stake back or selling it, likely at a huge discount.
As is stands, the firm sees as transaction with Rosneft as the most realistic option, as it would struggle to sell down its holding on the market or find another buyer.
German inflation jumped to its highest since records began after reunification in the early 1990s, as surging energy prices pile more pressure on households.
Consumer prices surged 7.6pc in March from a year earlier – topping economists' expectations.
It followed a higher-than-expected inflation reading of almost 10pc in Spain earlier today, as the war in Ukraine sparks turbulence across the continent.
The figures are likely to fuel expectations that the ECB will raise interest rates – something President Christine Lagarde has so far resisted.
Russia's finance ministry reportedly plans to pay the remaining part of the Eurobond due on April 4.
It comes after Moscow offered to buy back part of the issue in roubles, Reuters reports.
Analysts said the offer was designed to help local holders of the $2bn (£1.5bn) sovereign bond receive payment, while also easing the country's hard-currency repayment burden.
Worries are mounting that Vladimir Putin may turn off the energy supply taps that flow into Europe, in a stand-off over how payments will be made.
It comes as the Kremlin battles to prop up its currency, the rouble, after a wave of sanctions by Western countries push Russia’s economy to the brink. While Europe is conscious of keeping the lights on, it also does not want to inadvertently aid Putin’s war efforts.
As Europe prepares for a gas supply crunch, Germany, its biggest economy, has triggered an emergency plan.
What is at stake if Russia goes ahead with its threats?
Rachel Millardexplains:What happens if Russian gas is switched off?
Moscow has said there were no breakthroughs in talks with Ukraine yesterday, further dampening optimism about a potential ceasefire.
Dmitry Peskov, the Kremlin's spokesman, said it was "positive" that Ukrainian negotiators had started to provide specific proposals on paper.
"But on the rest, we can't report anything very promising, no breakthroughs. Very, very prolonged work is still ahead."
Russia yesterday said it was scaling back some military operations, and raised the prospect of direct talks between Vladimir Putin and Volodymyr Zelensky.
But Russian shelling continued today, with fears the assault could intensify outside Kyiv.
Wall Street's main indices look set to decline at the opening bell as optimism about a de-escalation of Russia's war in Ukraine faded.
The West has been sceptical about Moscow's pledge to scale back military operations, while traders are focusing on surging inflation and concerns that the Treasury curve signals a looming recession.
Futures tracking the S&P 500 and Dow Jones fell 0.4pc and 0.3pc respectively, while the Nasdaq lost 0.5pc.
The EU has said it will work closely with member states to prepare for gas supply disruptions after Germany triggered an emergency plan amid fears Russia could turn off the taps.
Frans Timmermans, the EU's climate policy chief, said:
We are prepared for any such cases. We will of course, work closely with member states to have everybody be prepared for any sort of situations.
The City watchdog is extending a deadline for its approval of crypto firms, granting more time for Revolut and 11 others to get their affairs in order.
The Financial Conduct Authority (FCA) said companies on its temporary register of crypto businesses will be given additional time if they can show they require it, such as providing more information for the application, pursuing an appeal against the FCA's decision or winding down their operations.
More than 100 firms applied for permission to operate while their applications were ongoing – only 12 remain on that register.
The FCA said: "We have been reviewing cryptoasset firms' applications to ensure they meet the minimum standards we expect – that those who run these firms are fit and proper and that they have adequate systems to identify and prevent flows of money from crime."
Ikea plans to close a store in Tottenham, north London, putting 450 jobs at risk, as part its push to open more shops in city centres, writesLaura Onita.
The decision comes only a month after the Swedish giant opened its first shopping centre in Hammersmith, west London.
Read Laura's full story here
Russia appears to be easing its rhetoric over demands for western countries to pay for gas imports in roubles.
The Kremlin said it won't immediately demand payments in the local currency, despite Vladimir Putin ordering the switch by March 31.
Spokesman Dmitry Peskov said the process will take time, with a separation between payment and delivery. Natural gas prices pared gains after the climbdown.
Mr Peskov also said Russia should work on widening the list of exports requiring rouble payments after the Duma Speaker called for grain, oil and other commodities to be included in the demands.
Tui has confirmed it will repay €700m (£592m) of bailout funds to the German state and private lenders, as summer bookings climbed back towards pre-pandemic levels.
The world's biggest travel agency said it will return the money on April 1, leaving it with about €3.5bn in emergency pandemic funding lines.
Tui received the cash injections and access to state-backed loans as the pandemic sparked a slump in travel demand.
Fritz Joussen, chief executive of Tui, said: "Thanks to the credit lines from the German federal government and from the private banks and the contribution of our shareholders, we have steered Tui safely through its most serious crisis."
The company said bookings for the summer season had hit 80pc of 2019 levels in recent weeks.
Shell's controversial Cambo oil field has been granted a two-year licence extension as the war in Ukraine sparks a rethink on North Sea oil.
The project had been paused in December after Shell withdrew following pressure from fossil fuel critics. But it's now said to be reconsidering its decision as the UK looks to reduce reliance on Russian energy.
Siccar Point, which co-owns the venture with Shell, said the firms were working with the Government to "map out the next steps on Cambo".
Read more on this story:Putin puts North Sea oil back on the agenda for investors
Private equity firm Apollo has scrapped its efforts to snap up publishing giant Pearson.
Earlier this month the FTSE 100 group revealed it had rejected two takeover offers from Apollo – the second valued at around £7bn. It said the offers "significantly undervalued" the company.
Apollo has now confirmed it was unable to reach agreement with Pearson's board over the terms of a potential deal and so it does not intend to make an offer.
Shares in Pearson slumped as much as 14pc.
One in three households are turning down their heating and spending less on their weekly grocery shop as family budgets are battered by the cost of living crisis.
Tom Reeshas more:
Official data revealed that older generations are feeling the squeeze the most, with almost a third of adults unable to cope with an unexpected £850 bill.
Oil prices are back on the rise as traders cautiously assess Russia's pledge to de-escalate fighting and its potential impact on supplies.
Benchmark Brent crude rose more than 2pc to above $112 a barrel, while West Texas Intermediate traded around $107. It comes after prices slid more than 8pc over the last two sessions.
The war is already taking its toll on Russian production, which fell below 11m barrels a day in the second half of March, while deliveries to refineries slid about 11pc.
Prices had slumped on hopes of a ceasefire, but western nations are sceptical about the Kremlin's claims.
Economic advisers to the German government have slashed their growth forecast for 2022, warning that the war in Ukraine and soaring energy prices would take their toll.
The German Council of Economic Experts said it now expected GDP to expand by just 1.8pc year on year, down from an earlier forecast of 4.6pc.
They said: "Russia's war of aggression against Ukraine and energy prices are drastically worsening the economic outlook."
The experts, whose forecasts are closely watched by Chancellor Olaf Scholz's government, said they expected inflation to hit a decades-high peak of 6.1pc this year as energy costs and supply chain disruptions continue to push up prices around the world.
Spanish inflation has unexpectedly surged at its fastest rate in almost four decades as Russia's invasion of Ukraine pushes energy bills ever higher.
In the latest grim sign of Europe's cost-of-living crisis, Spain said EU-harmonised consumer prices jumped 9.8pc in March, outstripping economists' forecasts.
A national gauge rose by the same amount – the biggest jump since 1985 – driven by food, fuel and electricity.
Germany will release inflation data later today, while eurozone numbers on Friday are set to hit a fresh high.
Staff at Citigroup's Canary Wharf offices are working from home today amid a major power cut across east London.
Many of the bank's UK workers were forced to head home early yesterday when party of the building lost power, Bloomberg reports.
In a memo to staff, James Bardrick, Citigroup's UK chief, warned the disruption could continue beyond today.
He wrote: "We expect access to power in and around Canary Wharf to be compromised tomorrow, and possibly for a longer period of time. As a precaution, please plan to work from home tomorrow."
UK Power Networks said it expected the power cuts affecting Canary Wharf to be resolved by 11.30am.
Citi appears to be the hardest hit by the outages. At HSBC's offices, power was reportedly lost for several hours, forcing the bank to activate auxiliary generators.
Power also went out at Credit Suisse, but it used secondary supplies to ensure disruption was limited.
London-listed miner Petropavlovsk has started talks with advisers over a potential debt restructuring after lender Gazprombank was hit by sanctions.
The company said it was in the early stages of discussion on the mater after it was unable to make around $10m (£7.6m) of interest payments due in the last week.
Petropavlovsk has seen its share price crash more than 75pc since the start of the year as Russia's invasion of Ukraine sent investors fleeing.
The miner said sanctions against Gazprombank had left it unable to sell gold, adding that restrictions on purchasing and selling gold in Russia could make it "challenging".
Soaring sales of the new novel by fantasy author Sarah Maas have helped Bloomsbury to lift its profit forecasts for the second time in as many months.
The Harry Potter publisher said full-year profits are set to be "materially" ahead of already-upgraded expectations thanks to strong consumer book sales, and after it also overcame ongoing print supply challenges.
Bloomsbury hailed "exceptional" sales in the final month of its financial year, which it largely put down to demand for Ms Maas's number one global bestseller House Of Sky And Breath.
Other top sellers included What I Wish People Knew About Dementia by Wendy Mitchell, Violeta by Isabel Allende and The Leviathan by Rosie Andrews.
This put the group on track to "comfortably" beat its £212.5m in expected sales and pre-tax profits of £22.3m.
Dominic Raab has said sanctions against Russia will remain it place until the country withdraws its troops from Ukraine.
The Deputy Prime Minister told the BBC: "The sanctions are there to tighten the grip on Putin's war machine and until the invasion is withdrawn – and I think that would need to be entirely or on a verifiable basis – I don't think the sanctions can or should be lifted."
Producer cartel Opec is expected to rebuff calls to cover a shortfall in oil exports for Russia even as prices remain high.
The group, led by Saudi Arabia, is likely to agree to another modest production increase for May when it meets tomorrow, according to a Bloomberg survey.
Russian oil exports have plunged by a quarter as many traders shun the country over its invasion of Ukraine, while companies including BP and Shell have pledged to withdraw.
Major importers have urged Opec to boost supplies to ease prices, which have held above $100 a barrel. But the group have resisted the calls, insisting that there's no shortage in world markets yet.
Growing fears that Russia could cut off gas supplies are pushing Germany to a new source of energy: biogas.
Europe's largest economy is racing to reduce its reliance on Russian energy and has initiated an emergency gas supply plan as Putin's deadline for rouble payments looms.
The FTSE 100's gains this morning may be modest, but the index still appears to be outperforming its European rivals.
The pan-European Stoxx 600 dropped 0.5pc, retreating after three straight sessions of gains that were driven by hopes of a breakthrough in Russia-Ukraine peace talks.
The reversal suggests investors may feel the optimism was overblow, while concerns remain about soaring inflation and a potential recession.
Swiss drugmaker Roche also weighed on the wider market, dropping 2.2pcafter it said its drug to treat small cell lung cancer failed to meet its targets in a late-stage trial.
Here's a bit more detail on Germany's emergency gas plans:
Robert Habeck, the country's finance minister, said that while gas supplies were secure for the time being, it was monitoring the situation closely.
He said: "Nevertheless, we must increase precautionary measures to be prepared for an escalation on the part of Russia. With the declaration of the early warning level, a crisis team has convened."
The crisis team, which includes members of his ministry, the German network regulator, network operators, and representatives of Germany's 16 federal states would closely monitor the situation "so that – if necessary – further measures can be taken to increase supply security".
Mr Habeck also urged consumers and companies to reduce consumption, saying that "every kilowatt hour counts".
Russia accounted for 55pc of Germany's gas imports in 2021. Although that figure fell to 40pc in the first quarter of 2022, Mr Habeck has said Germany will not achieve full independence from Russian supplies before mid-2024.
Airport ground-handling specialist John Menzies has accepted a £571m takeover bid by a Kuwaiti firm.
The Scottish company said it had reached an agreement on the terms of the deal with Agility Warehousing.
The 608p-per-share offer, which follows two previous lower bids, is 81pc above Menzies' share price before the suitor first approached in early February.
Philipp Joeinig, chief executive of Menzies, said:
The Menzies directors believe that the offer represents a fair and recommendable price for shareholders which recognises Menzies' future prospects.
The FTSE 100 has pushed tentatively higher this morning, extending yesterday's rally after Russia pledged to scale back operations around Kyiv.
The blue-chip index rose 0.1pc, boosted by heavyweight commodity stocks.
BPandShellrose 1.4pc and 2.2pc respectively as oil prices clawed back heavy losses suffered earlier in the week. The latter was also helped by JP Morgan raising its price target on the stock.
MinersGlencore,Rio Tinto,FresnilloandAnglo Americanall pushed higher, tracking a rebound in metal prices.
But gains were capped byExperian, which fell 2.7pc to the bottom of the FTSE 100 after Citigroup cut its rating on the credit data firm.Lloydsalso dropped 2.6pc on a double downgrade from RBC.
The domestically-focused FTSE 250 dropped 0.6pc after surging 2pc yesterday.
India's government is said to be considering a proposal from Moscow to use a system developed by Russia's central bank for payments.
The plan involves payments in roubles and rupees using Russia’s messaging system SPFS, Bloomberg reports. This would allow the Kremlin to sidestep sanctions blocking it from the Swift transaction system.
India is keen to continue bilateral trade due to its dependency on Russian weapons and the prospect of buying cheaper oil as global prices surge.
Prime Minister Narendra Modi has been pushing back against pressure from western nations by arguing that arms purchases from Russia are needed to counter China’s growing military assertiveness.
Putin's rouble demands appear to be having the desired effect on the Russian currency, which is close to clawing back all the losses suffered since the invasion of Ukraine.
The rouble has gained ground in 13 of the past 14 trading sessions in Moscow, paring most of the 33pc decline it suffered after Putin sent Russian troops to invade Ukraine.
The currency rose again this morning, gaining more than 4pc to around 86 against the dollar, edging close to its pre-war level.
Natural gas prices pushed higher as Germany initiated an emergency gas supply plan amid fears Moscow could turn off the taps.
Benchmark European prices rose as much as 6.1pc after finance minister Robert Habeck said Germany had entered the first of three possible phases of the plan. The UK equivalent rose more than 9pc.
Vladimir Putin has demanded that "unfriendly" nations pay for gas imports in roubles – a demand the G7 has unanimously rejected.
The two sides are at a stand-off ahead of tomorrow's deadline, sparking market volatility as traders fear further disruption to supplies.
The FTSE 100 has nudged higher at the open, building on yesterday's gains amid optimism about Russia-Ukraine ceasefire talks.
The blue-chip index gained 0.2pc to 7.549 points.
Britain will take a very sceptical view towards Russia and its pledge to scale down military operations around Kyiv.
That's according to Dominic Raab, who said the Government will judge Moscow on its actions not words.
Russia has promised to de-escalate its assault around the capital, but western countries expect that to lead to an intensification of fighting in other areas. Ukraine also reacted with scepticism.
The Deputy Prime Minister told Sky News: "The door to diplomacy will always be left ajar, but I don't think you can trust what is coming out of the mouth of Putin's war machine."
Putin's demands for gas payments in roubles are triggering further jitters in energy markets.
Germany has declared an "early warning" stage of emergency over gas supplies as it braces for a potential escalation by Moscow.
It's the first of three possible phases of an emergency plan to manage squeezed energy supplies, with the threat of Russia cutting off flows completely. A task force will meet daily to monitor the situation.
Robert Habeck, Germany's economy minister, called on companies and consumers to help by reducing energy consumption wherever possible, but insisted there was currently no gas supply shortage.
Good morning.
While there are tentative signs of de-escalation in the Russia-Ukraine war, tensions between Moscow and the West show no signs of letting up.
A top Putin ally has proposed that Moscow expands its demands for roubles payments from the West to commodities including oil, metals and fertilisers.
It comes after Putin ordered so-called "unfriendly" nations to pay for gas imports in the local currency – a move the G7 has firmly rejected.
The Kremlin is battling to prop up the rouble after a wave of western sanctions sent Russian markets crashing.
1)P&O Ferries accuses MPs of interfering in reviewsIt said that the Maritime and Coastguard Agency had applied an “unprecedented level of rigour” to inspecting its ships in the wake of “interventions by ministers and MPs”.
2)Dyson unveils air purifying headsetWearing a face mask in public has gone from a peculiar sight to an everyday occurrence in the past two years, but people may still not be ready for Dyson’s latest invention.
3)Mexico drug wars send avocado prices soaringAvocado prices have surged to their highest in more than two decades after the fruit became caught up in escalating violence between drug cartels in Mexico.
4)Tory heartlands up in arms over fears of solar panel land grabAs Britain pushes ahead with plans to go green amid a biting energy crisis, ministers are taking on the Nimbys.
5)70,000 civil servants to goGovernment spending has soared to a “high-water mark”, with a Treasury minister promising to slash the number of civil servants.
The strong gains on Wall Street and in Europe were largely matched in Asia, with Hong Kong, Shanghai, Sydney, Seoul, Singapore, Taipei, Manila, Jakarta and Wellington all performing well. Tokyo bucked the trend by falling.
Full-year results:Keywords
Economics:Consumer confidence, business climate (EU); inflation (Ger); GDP, ADP employment change, personal consumption expenditures (US) || STEPM – Try to reach Mars by your steps: STEPM Singapore, May 16, 2022 (GLOBE NEWSWIRE) -- Honestly, if anyone has to choose the most exciting Web 3.0 project with Game-Fi and Social-Fi elements that will launch shortly, they will select STEPM. With the fascinating ideas and visions, STEPM stands out among the other Move to Earn projects. To stand at the top with other successful predecessors. STEPM ideas and visions: Observing STEPM’s Whitepaper , it can be observed that how passionate they are. An absolute Elon Musk fan. STEPM stands for Step to Mars. The M in STEPM, meaning Mars, is inspired by the idea of sending people to Mars by Elon Musk - the CEO of SpaceX. The team states that STEPM was born with the mission to improve human conditions: physical and mental health. By focusing on the daily activity most people need, which is moving, building a qualified force to join the journey to Mars in 2029. The Game-Fi aspect of STEPM operates by the simple and popular mechanism: Move to Earn. The team develops the STEPM app, along with NFT Spaceshoes. Players can launch the app and equip themselves with NFT Spaceshoes that derive into many types, suitable for many players. By walking, jogging, and running outdoor, they can earn in-game tokens, which can be used or drawn into cash as profit. Through Game-Fi, STEPM aims to promote millions of people towards a healthier lifestyle against climate change, gene improvement, and an ecosystem suitable to the space environment on Mars. At first people reaching STEPM, might think that this would be another Move to Earn concept relating project like the others. But diving further into the project, its ideas and game mechanism would fascinated them. The developer team is a solid team with an appealing visionary. STEPM NFT Collections and Rewards mechanism. STEPM development team, with their brilliant designers' imagination and creativity. They came up with fantastic pieces of art that would thrive in the heart of sneaker lovers. Also, based on players' references, four types of NFT Spaceshoes are suitable for each. Including Walking, Jogging, Running, and Training. Each type requires players to move at different optimal speed and is also differentiated in reward earning. Story continues For fairness between players and the integrity of the reward system, the reward will be distributed according to these factors: NFT Spaceshoes Efficiency (Low Durability affects Efficiency). Type/quality of NFT Spaceshoes. GPS signal - players will earn less if the GPS signal is poor. Mobile Data signal strength and stability – if the data signal is choppy, it could also reduce earnings. Randomization. One more good point to add is that they also divided the NFT Spaceshoes into different types of quality. The higher players' NFT rate, the more significant reward they get; also, their NFT will be more valuable in the NFT marketplace. Four boxes of NFT Spaceshoes types will be available for sale, but the NFT quality will be random. Make the game even more exciting! STEPMNOMICS: STEPM developer team is very confident about their Tokenomics’ design. Instead of using Tokenomics, they use STEPMnomics rather since they believe in the uniqueness of their design. They stated that designing an excellent Tokenomics will lay a substantial foundation for developing any Game-Fi project. Looking at other giants in the Game-Fi market, especially Axie Infinity. Those giants are all encountering the most significant problem, which is inflation. So, STEPM knows it and learns from it. STEPM adopts a dual token system: the game token SMT and the governance token SST. SST has a limited supply capped at 1,000,000,000, and 30% of the total supply will be rewarded to users through move-to-earn and governance participation. Its token system borrows from successful mechanisms of Bitcoin, including “halving” and “difficulty bomb,” to keep the supply sustainable and the return proportional to the difficulty. Compared to SST, SMT is a much more widely used, traded, and liquidated token at STEPM. By design, SST cannot be minted by users without reaching level 30. However, players can earn SMT from the first minute of their run. While players are making SMT, they are also spending SMT all the time – to level up your shoes, repair your shoes, open a mystery box, and so on. The high-frequent usage of SMT keeps the built-in financial system active and maintains the value of coins effectively. STEPM Specialties: STEPM developer team has created a convincing anti-cheating system. Whether players keep their phone on their dog or try cycling instead of running, the STEPM system can capture their cheating behavior and take back their earned SMT or even freeze their account. Additionally, to avoid people opening two accounts but only purchasing one NFT Spaceshoes to switch between them, STEPM has designed a cool-down period. During the cool-down period, users cannot use these NFT Spaceshoes. Secondly, it is a beginner-friendly hands-on experience for people to transition from Web 2.0 to Web3.0. Video games first introduced the to-earn model. Gaming is not for everyone, but walking or running is much broader, bringing STEPM a huge audience pool. Also, STEPM focuses on mobile devices, which most people use to get online every day. Additionally, STEPM attempts to soften people's barriers to using Web3.0-specific features. Its built-in wallet enables people to deposit crypto from centralized exchanges directly without Googling "how I can open a crypto account." The STEPM community plays a huge role in promoting the app. Both Telegram and Discord groups are very active and friendly. Beginners can find guides everywhere online. Many people even help their parents purchase NFT Spaceshoes and join the game. Their parents do not need to know what blockchain is but just to click start on the app, exercise as usual, and earn. STEPM encourages players to try it when the app is released, and the whole user experience design shown in the trailer is pretty smooth for them. As long as the "STEPMnomics" keep stable, players are very optimistic about STEPM's future. Web 3.0 fitness projects have become a trend those days. Move to Earn will lead a new wave to push Web 3.0 to a broader audience, and STEPM will be one of the first contenders. Join with STEPM now on the journey to the Mars! CONTACT: Media Contact STEPM Email Address: step2mars -at- stepm.today STEPM Website: https://www.stepm.today/ STEPM Twitter: https://twitter.com/stepmars_bsc STEPM Telegram Channel: https://t.me/STEPM_announcement STEPM Discord: https://discord.com/invite/qWUDGrp89X || Daily Gold News: Friday, Apr. 8 – Gold Price Is Still Going Sideways: Thegoldfutures contract gained 0.76% on Thursday, Apr. 7., after its Wednesday’s decline of 0.2%, as it extended a short-term consolidation. The yellow metal’s price keeps fluctuating above the $1,900 level following its early March rally and the subsequent decline. This morning it is trading sideways again, as we can see on the daily chart (the chart includes today’s intraday data):
Gold is 0.1% higher this morning, as it is trading within a short-term consolidation, and it is still above the $1,900 level. What about the other precious metals?Silveris 0.2% higher, platinum is 0.1% lower andpalladiumis 3.0% higher.So the main precious metals’ prices are virtually flat this morning.
Yesterday’s Unemployment Claims release has been better than expected at 166,000. Today we will get the Final Wholesale Inventories release at 10:00 a.m. and it is expected at +2.1%.
The markets will continue to react to the ongoing Russia-Ukraine war news.
Below you will find ourGold, Silver, and Mining Stockseconomic news schedule for today.
• 8:30 a.m. Canada – Employment Change, Unemployment Rate
• 10:00 a.m. U.S. – Final Wholesale Inventories m/m
For a look at all of today’s economic events, check out oureconomic calendar.
Paul RejczakStock Trading StrategistSunshine Profits: Analysis. Care. Profits.
* * * * *
Disclaimer
All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.
Thisarticlewas originally posted on FX Empire
• Bitcoin and ETH Could Resume Decline, NEAR Reaches Key Juncture
• Natural Gas Markets Continue to Fight Enormous Pressure
• Best Energy Stocks To Buy Now
• Stock Market Continues to Go Back and Forth
• June Gold Higher as Momentum Shifts to Upside
• Natural Gas Markets Exploded to the Upside During the Week || 7 Mid-Cap Stocks Ready to Rally: • With the headline equities taking a beating, these mid-cap stocks feature a compelling mix of discretion and upside potential.
• Murphy USA(MUSA): Because gasoline prices are likely to swing higher throughout the year, MUSA seems poised for a big break out.
• National Fuel Gas(NFG): A diversified natural gas distribution firm, National Fuel Gas may enjoy cynical upside.
• Grocery Outlet(GO): Following a strong earnings report, Grocery Outlet’s future looks bright due to its immensely relevant business.
• Olin(OLN): With President Joe Biden’s administration eyeballing firearms regulations, ammo maker Olin commands a cynical catalyst among mid-cap stocks.
• ManpowerGroup(MAN): One of the biggest staffing agencies in the world, MAN is supremely relevant as things get tough in the economy.
• Ollie’s Bargain Outlet(OLLI): With economic concerns weighing on consumer sentiment, OLLI could pick back up following a rough cycle.
• Yelp(YELP): One of the more speculative ideas among mid-cap stocks, Yelp could enjoy more demand as consumers become extra careful with their expenditures.
Source: iQoncept / Shutterstock.com
To be completely upfront with the audience, I had a different idea about what I was going to discuss regarding publicly traded middle-capitalization companies prior to the implosion of the equities sector. Nevertheless, not every asset class has grinded to a halt. Indeed, mid-cap stocks may provide an intriguing role for your portfolio as we all attempt to navigate these rough waters.
Primarily, mid-cap stocks offer a distinct balance between growth and stability. You might even call it the Goldilocks principle for the equities market, with opportunities in this space being neither too hot nor too cold. In other words, these ideas aren’t utterly speculative fare yet are small enough to offer significant upside.
On a related note, mid-cap stocks have a tendency of flying under the radar. During bullish cycles, mid-caps might not receive the fullest allocation of mainstream attention as blue chips. On the other hand, when the smelly stuff hits the proverbial fan, diving down and beneath the flak may allow these balanced ideas to survive and potentially thrive.
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If you’re ready to be adventurous without going too far off the deep end, here are some mid-cap stocks to consider.
[{"MUSA": "NFG", "Murphy USA Inc.": "National Fuel Gas Company", "$256.49": "$68.34"}, {"MUSA": "GO", "Murphy USA Inc.": "Grocery Outlet Holding Corp.", "$256.49": "$35.97"}, {"MUSA": "OLN", "Murphy USA Inc.": "Olin Corporation", "$256.49": "$63.40"}, {"MUSA": "MAN", "Murphy USA Inc.": "ManpowerGroup Inc.", "$256.49": "$89.52"}, {"MUSA": "OLLI", "Murphy USA Inc.": "Ollie\u2019s Bargain Outlet Holdings, Inc.", "$256.49": "$46.53"}, {"MUSA": "YELP", "Murphy USA Inc.": "Yelp Inc.", "$256.49": "$29.35"}]
Source: Lawrence Glass / Shutterstock.com
Since time is money during these turbulent market cycles, let’s not waste any unnecessary verbiage and get down to the brass tacks. As an operator of a chain of retail gasoline stations,Murphy USA(NYSE:MUSA) is incredibly relevant. One of the best performers among mid-cap stocks listed onS&P Midcap 400index, MUSA has been killing it, gaining 28% on a year-to-date basis.
Recession fears? Not with Murphy USA and that’s because it levers arguably the most cynical argument ever for mid-cap stocks or any investment category. The national average gas price jumped to a record recently. If that wasn’t discouraging enough, many experts believe thatcosts will keep rising.
You can blame inflationary pressures, the expansion of the money stock, the war in Ukraine or China. But the point is that so long as upward pressure exists, the pain at the pump will serve MUSA well.
Interestingly, MUSA appears to be forming a bullish flag formation between early March of this year until now. Make of that what you will.
Source: OlegRi / Shutterstock
When perusing mid-cap stocks under the present environment, you really can’t go wrong with energy-related companies. One in particular that stood out to me wasNational Fuel Gas(NYSE:NFG). Let me just say straight out that you can find other mid-caps with a superior performance record. On a YTD basis, NFG is up only 6% at time of writing.
Still, that might appeal to those who’d rather not buy into extreme strength under the notion that there might be more room to grow for NFG. Fair enough. But on a fundamental note, National Fuel Gas is extraordinarily relevant for its diversified natural gas distribution business. Obviously, the underlying commodity is a cynical catalyst, especially when the communities the company serves hits the winter season.
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Also, NFG is heavily involved in the exploration and production side of the natural gas business. It’s thinking far ahead, but the company might play a role geopolitically due to Russia’s invasion of Ukraine and subsequent calls toreduce hydrocarbon dependencyon the commodities exporter.
Source: Shutterstock
Although I could cheat this story of mid-cap stocks to buy by exclusively focusing on oil and gas plays, my long-time readers will know that I’m going to do my best to mix it up. Indeed, while energy is supremely important given the new world order, food is just as significant if not more so. We can’t live without it, which is part of the reason whyGrocery Outlet(NASDAQ:GO) has performed so well.
But the vast majority of the upside comes from the company’s outstanding results for its fiscal first quarter. On the top line,revenue increased by 10.5%on a year-over-year basis to $831.4 million. This figure was noticeably above Wall Street’s consensus target calling for $810.4 million. As well, Grocery Outlet produced an earnings per share of 12 cents, above analysts estimate of 10 cents.
To sum up, despite rising costs eating into the grocer’s margins, it still put up outstanding numbers. Circumstances should continue to be robust for GO stock since consumers will likely eschew discretionary spending for the essentials.
Source: IgorGolovniov / Shutterstock.com
Okay, I’m going to have to dip a little bit into the political realm withOlin(NYSE:OLN) so if you don’t want any hint of controversy in your portfolio, this is one of the names among mid-cap stocks to skip. While Olin is perhaps best known for its core chemicals business, it also owns the Winchester brand of ammunition.
So you probably know where I’m going with this. Firearms have always been popular in the U.S., which for years has hadmore guns than peoplewithin its borders. But they especially became trendy when the coronavirus pandemic hit, which caused fears of social unrest.
These days, Americans have calmed down about Covid-19. But many have not calmed down about Democrats taking away their constitutional rights. First, the Biden administration has signaled interest ingreater firearms regulations. Second, gun violence has become aworrying threat to American youth.
• 7 of the Most Undervalued Mid-Cap Stocks to Buy Now
No matter what side of the debate you find yourself in, one thing is clear: gun advocates don’t want their rights to be trampled. Cynically, this augurs well for OLN stock, which may receive a downwind benefit.
Source: shutterstock.com/By yuttana Contributor Studio
I’ve long been skeptical about the work-from-home phenomenon because of one harsh reality. If your job can be done in your living room, it can be done in India. Honestly, why would a company pay hefty premiums for American white-collar labor that’s difficult to quantify in the best of times when it can be outsourced to India for pennies on the dollar?
Well,work from home might be coming to an end, which then bodes well for staffing agencyManpower(NYSE:MAN). One of the biggest organizations of its kind, Manpower may be in prime position to advantage the spring-back effect in the workforce: eventually, it may be an employer’s market, not a jobhunter’s market.
Fundamentally, it doesn’t make sense for an economy as robust as the U.S. for its employers to beg for workers to apply for open positions. In most cases in life, rare desirable items are valued at an incredibly high premium. Put another way, the irrationality of the American workforce will likely shift, thus filling Manpower’s roster with eager candidates.
Source: George Sheldon / Shutterstock.com
The corporate identity ofOllie’s Bargain Outlet(NASDAQ:OLLI) gives away why I’m including OLLI on this list of mid-cap stocks to consider. For months if not years, a rising chorus of analysts have sounded the alarm regarding both domestic and global recession fears. Now, with the equities market tanking — along with other sectors like cryptocurrencies — those fears appear poised to materialize.
Bummer. About the only positive I can present are mid-cap stocks that are tied to recession-resistant businesses like discount retailers. Per its website, Ollie’s offers brand-name merchandise at up to 70% off what you might find at traditional retailers. Now, everybody likes a good deal. But during an economic downturn, such deals become necessities.
• 7 Great Growth Stocks to Buy in May
Thus, the bullish narrative for OLLI stock writes itself. In 2009, theNew York Timesdetailed how discount dollar storesseized the moment during the Great Recession. More recently,NBC Newsreported last December thatrising inflation caused an identical consumer shift. Even though OLLI is struggling, it might just bounce back.
Source: BigTunaOnline / Shutterstock.com
With the last idea regarding mid-cap stocks to consider, I’m going to have a little speculative fun withYelp(NYSE:YELP). First thing’s first, let me keep the attorneys happy by stating up front that you should not buy YELP stock. Why? Because it’s flipping volatile, shedding over 23% YTD and losing 17% of market value in the trailing five days through the May 11 session.
So, why am I bringing up the company then? As you know, Yelp is a popular social network where users can rate and share their experiences with the businesses they patronize. In a way, it holds companies accountable for their behavior while also allowing managers to have their say as well. It’s a relevant business in this social-media-driven ecosystem but it will become more vital during a recession.
While it’s just my opinion, I believe that consumers will pay more attention to Yelp reviews when times are tough. After all, the average household won’t have the luxury of being flippant with their money, especially when job losses are involved.
On the date of publication, Josh Enomotodid 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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[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 29445.96, 31726.39, 31792.31, 29799.08, 30467.49, 29704.39, 29832.91, 29906.66, 31370.67, 31155.48
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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 2021-11-05]
BTC Price: 61125.68, BTC RSI: 54.53
Gold Price: 1816.40, Gold RSI: 59.41
Oil Price: 81.27, Oil RSI: 52.85
[Random Sample of News (last 60 days)]
Bitcoin attempts recovery as Evergrande-led selloff eases: By Anushka Trivedi
(Reuters) - Cryptocurrency prices bounced off 1-1/2 month lows on Tuesday as a heavy selloff overnight linked to concerns about a possible loan default by property developer China Evergrande eased slightly, but investors braced for more volatility.
Bitcoin, the biggest and the best known cryptocurrency, traded around $43,000, recovering from a fall to $40,192 earlier in the session. It hit a four-month high of $52,000 on Sept 6.
Smaller rival ether, the coin linked to the Ethereum blockchain, rose 1% to $3,012 after falling below $3,000 for the first time since early August.
Global markets started the week on a turbulent note after fears that Evergrande's troubles could lead to a fallout for the Chinese and global economies prompted a selloff in riskier assets.
"We can't take a very positive view just as yet until we get through the next few days," said Matthew Dibb, chief operating officer at crypto index fund provider Singapore-based Stack Funds.
"This is purely sentiment driven right now, and it's actually been off very low liquidity," he said, adding that it would be better to wait on the sidelines as crypto markets will continue to be affected by the contagion.
The drop in cryptocurrencies comes at a time when institutional interest in the space has risen and made it more mainstream, with many investment banks taking a more bullish stance.
(Reporting by Anushka Trivedi in Bengaluru; editing by Richard Pullin) || Ether Awaits Price Breakout After Bitcoin’s Record Daily Close: Ether continues to struggle for a price breakout above keyresistanceeven as bitcoin, the crypto market leader, looks north after record daily close.
The native token of Ethereum’s blockchain has yet to take out the falling trendline drawn from May and September highs. Bitcoin cleared similar resistance two weeks ago and ended Tuesday above $64,000 – its highest daily close ever.
• Ether’s rally from September lows has stalled near the trendline resistance (above left).
• A convincing close higher may revive the uptrend, opening doors for a re-test of May highs near $4,400.
• The relative strength index (RS) is well short of above 70 or overbought levels, implying scope for a continued move to the higher side.
• Bitcoin narrowly missed the lifetime high of $64,801 early today and was last seen trading near $63,850.
• The immediate bias remains bullish as the uptrend line from September lows is intact.
• The daily RSI is signaling overbought conditions. So, a possibility of a temporary pullback cannot be ruled out. Below the rising trendline, support is seen at $57,800. || Energy crisis may force Russia to buy gas from Europe: • Eurozone inflation hits 13-year high as energy bills surge
• Pret a changer? Britain's ubiquitous sandwich chain seeks a new recipe for success
• FTSE 100 down 0.8pc;FTSE 250 hits two-month low
• Ryan Bourne:Petrol stations should raise prices even more
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Russia’s state gas company Gazprom may have to buy natural gas from European trading hubs this winter to meet contractual supply obligations amid lower pipeline flows, according to Goldman Sachs analysts.
The analysts, including Samantha Dart, wrote in a note: “This could potentially create a squeeze at the physical hub, further exacerbating the upside to gas prices well above” the bank’s $32 per million British thermal unit soft-ceiling scenario.
Futures based on the Dutch Title Transfer Facility hub surged to a record, hitting €100 a megawatt-hour on Friday, or $33.90 per MMbtu, as concerns mount of the possibility that Russian shipments to northwest Europe will disappoint just as winter starts, Goldman said.
Gazprom has been overwhelmed with demand both at home, where it needs to fill storage sites for winter and in its key export market Europe, where inventories are the lowest in more than a decade for the time of year.
That's all from us today – here are some of our top stories:
• British Steel hikes prices in wake of 'exorbitant' energy costs
• German unions demand higher pay to combat soaring inflation
• Pret a changer? Britain's ubiquitous sandwich chain seeks a new recipe for success
• Sunak faces £13bn debt shock from soaring inflation
• Banking tech boss resigns in wake of bullying investigation
Thanks for following along. Have a great weekend!
MPs have demanded to know whether Google plans to refund Britain’s financial watchdog £600,000 in fees it spent warning consumers about fraudulent adverts across the web, writesMatthew Field.
Mel Stride, chair of the Treasury Select Committee, wrote to Google, Facebook, Amazon and eBay demanding to know what more the technology companies are doing to tackle scams online.
It comes a week after Google was grilled by MPs over hundreds of thousands of pounds spent by the Financial Conduct Authority on adverts warning consumers of the risk of scams on Google itself.
Amanda Storey, Google’s head of trust and safety, told MPs the tech giant was “in discussions with the FCA” about whether the advertising costs should be refunded. It had offered Google $1.5m in advertising credits against future adverts.
Energy firms have reportedly called on the government to set up an emergency fund as they ramp up the pressure during an escalating crisis that has rocked the sector.
Some of the UK's biggest energy companies have called for money to help cover the cost of absorbing stranded customers from collapsed suppliers, Bloomberg reported.
According to the report, the firms are pushing for state-backed loans, as this would avoid the need to rack up debts.
The global energy squeeze is already taking its toll on British suppliers, with companies preparing for further failures. The upfront cost of taking on stranded customers is estimated at £1,000 per household.
The FTSE 100 has closed lower today as it struggled against a stronger pound. The blue-chip index fell 0.8pc to 7,027 points, rounding off a week of losses.
But today's real story was on the mid-cap FTSE 250, which dropped 0.2pc to record its worst weekly performance since October 2020.
Travel and leisure stocks have been the main drags on the index, but today it wasAO Worldthat stole the limelight after dropping a dramatic 24pc. This came after the firm said first-half revenue was hit by a shortage of delivery drivers.
Currysalso fell 8.6pc, as fears about the impact of supply chain troubles sent shockwaves through the wider retail sector.
There was some consolation for pub chainJD Wetherspoon, which gained more than 3pc even after it plunged to a record £154m loss.
British pig farmers have sounded the alarm over a looming pork crisis, saying the sector is facing a costly cull unless the government intervenes to tackle labour shortages.
Many pig farmers are fighting for survival as a dearth of abattoir workers and butchers has left up to 150,000 pigs that should already have been slaughtered still on farms.
On Friday the sector urged retailers not to turn to cheaper EU pork amid the crisis, which has been caused by an exodus of workers due to Brexit and the pandemic.
The National Pig Association said the industry was hiking wages and trying to increase training and automation to help fix the issue.
The threat of a pig cull has evoked memories of the Foot and Mouth crisis in 2001, when some 6m pigs, cattle and sheep were slaughtered.
The government has temporarily exempted parts of the CO2 industry from competition law in a bid to shore up supplies to British businesses.
Companies will be granted a short exemption to allow them to share information and optimise supply. The business department said this would help avoid future disruption and ensure supplies to the industries that need it most, such as the food sector.
It comes after the government was forced to spend tens of millions of pounds of taxpayer money to resume production at a CF Industries plant.
The US company, which produces nearly 60pc of the CO2 the UK uses, closed two sites amid surging gas prices, threatening to plunge the food and drink sectors into crisis.
A Dundee university professor has been propelled into the ranks of Britain's richest entrepreneurs after his AI drug discovery company debuted in New York, writesHannah Boland.
Professor Andrew Hopkins will hold a 15.8pc stake in Exscientia following its $2.9bn (£2.1bn) float on Nasdaq today, meaning he will be sitting on a paper fortune of around $458m. This puts his wealth at a similar level to the boss of Deliveroo, Will Shu.
Mr Hopkins, a former Pfizer executive, founded Exscientia in 2012, spinning the company out of the University of Dundee. He is still a professor of chemoinformatics, chemogenomics and drug discovery at the university.
The company's float on Nasdaq will also land paydays for SoftBank, German drug company Evotec and US-based pharma company Celgene.
Analysts have suggested that the grocery giant is likely to avoid the disruption seen at some of its competitors when it updates the City next week with its half-year results.
Revenues at half-year results a year ago were £26.7bn with pre-tax profits of £551m. Analysts at Barclays suggest sales could hit £30.4bn.
Last year's profits were dented by Tesco's decision to repay its £249m business rates bill.
Sophie Lund-Yates, equity analyst at Hargreaves Lansdown, said: "Tesco expects retail operating profits to recover to pre-pandemic levels this year.
"That comes after the enormous extra costs associated with getting the business through the pandemic, including hiring an army of extra staff, dented operating profit. We'll find out next week if the group's still on track for this target.
Builders and carmakers have been hit with emergency surcharges by British Steel to compensate for "exorbitant" energy and transport costs in the latest signal that the UK is caught in an inflationary spiral, reportsAlan Tovey.
He writes:
The Scunthorpe-based company said customers will be hit with a temporary surcharge of £25 a ton on steel to cover rocketing power prices and £5 a ton for transport costs.
Read Alan's full story here.
Sterling pared deep weekly losses on Friday after an afternoon rebound as improving sentiment lifted risk currencies and encouraged investors to pull out from the dollar safe haven.
The pound is currently up 0.6pc versus the dollar at $1.3544.
The British pound was one of the strongest G10 currencies earlier this year as investors bet the British economy would re-emerge faster from the pandemic thanks to Britain's speedy vaccination programme.
But that narrative has crumbled since, with sterling erasing all of its strong 2021 gains and heading for a yearly loss.
The pound fell to its lowest levels of the year earlier this week, weakened by Britain's shortage of truck drivers and a surge in energy prices while a hawkish-sounding Federal Reserve and worries about Chinese growth boosted the greenback.
"It's been another grim week for the pound, which remained highly sensitive to swings in sentiment and still struggled to cash in on the recent hawkish repricing of Bank of England rate expectations," said Francesco Pesole, a strategist at ING.
US consumer sentiment also edged higher in late September, exceeding economists' expectations but remaining near decade lows.
The University of Michigan’s final sentiment index rose to 72.8 from the preliminary reading of 71, data released Friday showed.
However the figure lingered near August's almost ten year low of 70.3.
“Consumer sentiment edged upward in late September,” Richard Curtin, director of the survey, said.
“Although the overall gain still meant the continuation of depressed optimism, initially sparked by the delta variant and supported by a surge in inflation and unfavourable long-term prospects for the national economy.”
US manufacturing expanded in September at the fastest pace in four months, bolstered by robust demand for factory goods and burgeoning inventory.
The Institute for Supply Management’s gauge of factory activity rose to 61.1 from August’s 59.9, according to data released Friday. Economists had expected a slight decline to 59.5.
Readings above 50 indicate expansion.
The data suggest manufacturers are making some headway working through still-elevated order backlogs, even as persistent shipping challenges continue to elongate delivery times.
Sadiq Khan is leading calls from London businesses to scrap all UK border restrictions in a softening of his previously tough stance on Covid restrictions, reportsOliver Gill.
He writes:
The London mayor fears the capital will continue to fall further behind its EU rivals unless the Government allows “no restrictions, no tests, and no passenger locator form” for arrivals from low-risk countries.
Read Oliver's full story here.
Electric cars represented a record 77.5pc share of all new car sales in Norway in September, as Tesla dominated the market.
According to the country's Road Traffic Information Council, Tesla Model Y, a compact sports utility vehicle, was the top selling vehicle in the country last month with 19.8pc of the car market. It was followed by the company's Model 3 sedan with 12.3pc.
Skoda's Enyaq was a distant third at 4.4pc.
The country is aiming to become the first to end the sale of petrol and diesel engines by 2025.
Last year, electric car sales were made up 61.5pc of the market.
Wall Street's main indexes opened higher on Friday as steep September losses drew the attention of bargain hunters.
The Dow Jones Industrial Average rose 86.78 points or 0.3pc. The S&P 500 opened 0.2pc higher while the Nasdaq Composite gained 0.3pc.
Merck shares rose 11.6pc after a study found that an experimental pill created by the US pharmaceutical company with Ridgeback Biotherapeutics slashed the risk of hospitalisation or death from Covid-19 by 50pc.
“We couldn’t be more thrilled with the results,” Merck chief executive Rob Davis told Bloomberg.
“You don’t have to go to the hospital, you don’t have to go to a center to have it infused. It’s a pill you can take at home.”
The companies now plan to seek an emergency-use authorisation from the FDA for the drug - called molnupiravir - as quickly as possible, Davis said.
While there are several drugs available to treat Covid-19, they can be either cumbersome to give to patients, or intended for use in only the most seriously ill.
Oil is falling today as investors prepare for potential supply increases after Monday’s OPEC+ meeting.
The international benchmark Brent declined 0.9pc while WTI also fell.
OPEC is due to meet on Monday, with a planned production hike of more than 400,000 barrels a day seen as under consideration, RBC Capital Markets analyst Helima Croft wrote in a note.
Investor focus also continues to be on crude demand after China ordered its state-owned companies to secure energy supplies for winter at all costs as the country struggles with a deepening power crisis.
The order from Beijing is likely to add more upward pressure to already elevated coal and liquefied natural gas prices, as well as oil products including fuel oil, diesel and propane, which can be used for electricity generation or to power small generators.
A Bank of England rate hike is likely this year if Britain's supply problems don’t ease and inflation pressures aren’t tempered by the end of government job support, a JPMorgan analyst said in a note.
Economist Allan Monks wrote to clients to say that the Monetary Policy Committee would prefer to delay a rate increase until 2022 so that it can avoid an impression of panic, “potentially longer-lasting negative shocks to labour supply from both the pandemic and Brexit” may force it to act earlier.
The BOE opened the door to an interest rate rise as soon as November in the minutes of its September meeting. It said any future tightening should start with a rate hike, even if that “became appropriate” before its bond-buying program finishes around the end of the year.
However clear data on how the furlough scheme affects the unemployment rate won’t be available until at least December, creating uncertainty among economists over what evidence the Committee will consider necessary to justify a hike.
JP Morgan's Monks said that news on wages, the speed of labour market tightening and inflation expectations will have a big sway.
If the end of the furlough scheme does not alleviate pressures in the labour market, Monks said, “a 4Q21 tightening would look more likely” than a hike inthe first quarter of 2022.
US prices rose 4.3pc compared to a year earlier, the largest annual increase since 1991.
The personal consumption expenditures price gauge, which the Federal Reserve uses for its inflation target, rose 0.4pc from a month earlier.
Three early investors in British cybersecurity company Darktrace have sold around 25m shares in the business, following the stock's strong surge in value since its IPO in April.
Private equity firms KKR, Balderton Capital and Summit all sold shares at a placing of 750p each, representing a 9pc discount of the firm's value at the end of the day yesterday.
The investors have witnessed the firm's stock triple in value since its listing at 250p per share.The sale generated total proceeds of £187.5m, meaning they made a profit of around £125m.
In response, Darktrace shares slumped as much as 8.3pc today. However they have recovered some of the day's earlier losses and are now trading at 797.5p - 2.7pc lower compared to yesterday's closing price.
More than a quarter of fuel forecourts still have no fuel, the Petrol Retail Association (PRA) said today.
According to a survey of the groups members - independent fuel retailers - the PRA added that less than half (47pc) have both petrol and diesel.
"Whilst the situation is similar to recent days, there are signs it is improving but far too slowly," said Gordon Balmer, executive director of the group.
"Independents, which total 65pc of the entire network, are not receiving enough deliveries of fuel compared with other sectors such as supermarkets".
The world's largest cryptocurrency has jumped today, making its biggest daily gain since July in just minutes.
Bitcoin leapt 10pc to $47,428 just after 11am UK time.
It's unclear what's behind the sudden surge. Some are pointing to comments made by Fed Chair Jerome Powell in a Congressional hearing yesterday.
Powell said he had “no intention” on banning cryptocurrencies. He did, however, add that stablecoins might be appropriate for regulation.
Despite falling in September, Bitcoin posted a 25pc gain in the third quarter. That compared with a drop of 41pc in the prior three months.
The boss of the unit set up to deliver a tech revolution in British banking has resigned after an independent investigation found that he “allowed a culture of bullying and intimidation to prevail” at the organisation, reportsSimon Foy.
He writes:
Imran Gulamhuseinwala, trustee of the Open Banking Implementation Entity (OBIE), has stepped down with immediate effect and will be replaced by Charlotte Crosswell, the competition regulator said.
Read the full story here.
Coal is running out in India, with 12pc of the country's coal fired power plants reporting they had no stocks left.
As of Wednesday, 16 of India's 135 coal-fired power plants had zero coal stocks, the Central Electricity Authority (CEA) told Reuters.
Over half of the plants had stocks that would last fewer than three days, while over 80pc had less than a week's stock left.
India is a country which relies on coal for more than 70pc of its electricity.
But pressure on domestic producers is rising as the economy roars back to life after the pandemic, while a widening price gap between lower domestic prices and record global coal prices has led buyers to shun imports.
State-run Coal India, which produces over 80pc of India's coal said this week an increase in global coal prices and freight costs meant that power plants using imported coal had to curb their production
The global energy crunch has forced a German electricity producer to halt a power plant after it ran out of coal.
Steag GmbH closed its Bergkamen-A plant in the western part of the country this week due to shortages of hard coal, it told Bloomberg.
“We are short of hard coal,” said Daniel Muhlenfeld, a Steag spokesperson.
“There is a strong demand for coal per se and secondly, there is a strong demand for transport by barge. And since Bergkamen has no rail connection, there are no logistical alternatives available here.”
European utilities had already turned to coal due to shortages of natural gas, recently stepping in to the spot market to secure cargoes and asking Russia for more supplies.
China’s move to secure more supplies is likely to make matters worse, with Europe set to scramble to secure fuel this winter.
Coal is trading at sky-high levels and is on track to break the previous record of $192.50 set in July 2008.
The Chancellor faces a £13bn debt shock this year as inflation soars to almost double official forecasts and reduces his room to manoeuvre despite a stronger recovery, experts warn.
Russell Lynchreports:
Economists at BNP Paribas expect the Retail Prices Index, which sets the interest bill for almost a quarter of the UK’s £2 trillion debt pile, to average almost double the Office for Budget Responsibility's 2.6pc estimate for the year to March. The fiscal watchdog's forecast was issued six months ago.
Read Russell's full story here.
US stock futures have fallen in pre-market trading in New York, with economically sensitive sectors leading declines ahead of new data on inflation and industrial activity.
Oil firms including Exxon Mobil and Chevron slipped about 0.9pc, while big banks Morgan Stanley, JPMorgan Chase & Co, Citigroup, Bank of America and Goldman Sachs Group also dropped 1pc each.
Stocks that would benefit most from government spending on infrastructure - Caterpillar, Deere & Co and Nucor - also came under pressure after Democratic leaders of the US House of Representatives delayed a planned vote on a $1 trillion bipartisan infrastructure bill on Thursday.
Wall Street ended sharply lower on yesterday and the S&P 500 posted its worst month since the onset of the global health crisis, following a tumultuous month and quarter wrecked by concerns over COVID-19, inflation fears and budget wrangling in Washington.
All eyes are now on consumer spending, inflation and factory activity data later in the day for signs of economic health and clues regarding the Federal Reserve's timeline for tapering its asset purchases and hiking key interest rates.
Futures tied to the Dow are down 0.5pc, S&P 500 futures fell 0.4pc and Nasdaq 100 futures dropped 0.33pc.
The deepening global energy crunch has pushed natural gas in Europe and Asia to the equivalent of about $190 a barrel, something the oil market has never seen.
Bloomberghas the details:
Both regions saw fresh records in the heating and power-generation fuel this week as utilities rush to restock lower-than-average inventories ahead of winter in the northern hemisphere, while alternatives - like coal - are also in short supply.
Consumers point to those filling jerrycans as the problem – but the low cost encourages such actions, saysRyan Bournein his latest column.
He writes:
When panics such as the fuel frenzy set in, any prospect of a rational discussion on how market pricing might improve resource allocation becomes more hopeless still. Yet if this week hasn’t shown us the limitations of suppressing market-clearing price signals in favour of government messaging, what will?
Read the column in full here.
Jack Allen-Reynolds, senior Europe economist at Capital Economics, comments:
Euro-zone inflation looks set to continue on its upward trend and we think it will soon hit 4pc.
Inflation in the euro area accelerated more than expected, to its highest level in 13 years, according to figures released by the EU's statistics office Eurostat today.
Consumer prices in rose 3.4pc in September, compared with an estimate for a 3.3pc gain.
A measure stripping out volatile components such as food and energy climbed to 1.9pc, a rate not seen since 2008.
Eurostat said: "Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in September (17.4pc, compared with 15.4pc in August), followed by non-energy industrial goods (2.1pc, compared with 2.6pc in August), food, alcohol & tobacco (2.1pc, compared with 2.0pc in August) and services (1.7pc, compared with 1.1pc in August)."
Energy prices for millions are rising from today in line with an increase to the cap on the most widely used tariffs after wholesale gas prices surged.
The price cap, which sets upper limits on how much firms can charge customers on standard variable tariffs, was increased by £139 to £1,277.
"Today, the latest price cap, which we announced back in August, is set at £1,277. This is the amount that an average household will pay for both gas and electricity," Ofgem's deputy director for retail, Anna Rossington, said in a video posted on Twitter.
The cap on electricity and gas bills came into effect in January 2019 and was aimed at ending what former British Prime Minister Theresa May called "rip-off" prices charged by energy companies.
The latest increase reflected the rise in energy costs seen earlier this year, and the ongoing "unprecedented" increase in global gas prices in recent weeks has put financial strain on suppliers, Rossington said.
Read more about the price cap here:
• The energy firms hiking their bills after the price cap increase
• Price cap that protects consumers must go, energy companies tell Business Secretary
• Ben Marlow:Energy price cap is a disastrous piece of government interference
Fuel forecourts across the UK will take weeks to return to normal, according to industry group, the UK Petrol Retailers Association.
Around London on Friday, many service stations were still closed, while those that did have supplies were surrounded by long lines of cars waiting to fill up.
“It will take a number of weeks to get it back to more normal running levels” with no lines or shortages at service stations, Gordon Balmer, executive director of the PRA, said in an interview with Bloomberg Radio on Friday.
More than a quarter of the nation’s service stations have no fuel, and another 20pc have only one grade in stock, the PRA said yesterday.
After 5,880 days of work at sea, the 450-mile long electricity cable connecting Blyth, Northumberland, with Kvilldal, near Stavanger in Norway, starts life today, reportsRachel Millard.
She writes:
The €1.6bn North Sea link draws power from Norway’s hydropower electricity system to provide power for up to 1.4m British homes.
Read the full story here.
Here's the daily round-up from The Telegraph's Money team:
• First ever sub-1pc buy-to-let mortgage rate launches:Nationwide's rental arm will offer cheapest ever landlord loan
• Fears for pension tax relief as cost soars to £41bn a year:More than £40bn a year is spent on pension tax relief
• War on cash intensifies as shoppers banned from spending notes and coins:Vast swathes of Britain have become ‘cash deserts’
British mid-cap stocks tumbled to two-month lows on Friday, with shares in pub operator Wetherspoon and electrical goods retailer AO World slumping after they warned of a hit to earnings from supply chain disruptions and a staffing crunch.
The index fell to lows of 22,718.7 in early trading.
It is currently down 0.7pc at 22,856.6 pointsand is heading for its worst week since October last year.
🇬🇧 UK final manufacturing#PMIfor September beats flash estimate at 57.1 (flash: 56.3).BUT delays in deliveries were hugely prominent. Freight delays, staff shortages, lack of delivery drivers among the main problems driven by combination of#COVID19and#Brexit.
Duncan Brock, group director at the Chartered Institute of Procurement and Supply, added:
Manufacturing activity in September was crammed with obstacles to succeed as supply disruptions continued to dampen growth for a fourth month in a row.
Rob Dobson, IHS Markit director, commented on the latest manufacturing PMIs falling to 57.1 in September from 60.3 in August:
The September PMI highlights the risk of the UK descending towards a bout of 'stagflation', as growth of manufacturing output and new orders eased sharply while input costs and selling prices continued to surge higher.
Supply chain delays, slower new order growth and rising material and labour shortages all constrained growth in the UK manufacturing sector in September, a new survey showed.
Although manufacturing production increased for the sixteenth consecutive month, the rate of expansion eased to its weakest since February - a seven month low.
The IHS Markit/CIPS UK Manufacturing Purchasing Managers' Index (PMI) fell to 57.1 in September from 60.3 in August.
Gains from education company Pearson, insurer Admiral and chemicals firm Croda have helped the FTSE 100 pare some of its earlier losses.
After falling to a low of 6,993 in early trading, the blue-chip index has now lifted back above 7,000.
However it is currently still trading down 0.9pc.
The price of a metal used in glass, car parts and computer chips has more than tripled in two months, after a production cut in the world’s biggest producer China.
For most of this century, the price of silicon has ranged between about 8,000 and 17,000 yuan (£891- $1,932) a ton.
But in September, producers in Yunnan province - which account for 20pc of China's silicon output - were ordered to cut production by 90pc in response to electricity curbs spurred by low hydropower resources and energy efficiency goals.
Since then prices have since shot up as high as 67,300 yuan (£7,758).
“If you have silicon supply constraints, then you’ve got a problem,” Keith Wildie, head of trading at aluminum alloy-maker Romco Metals, told Bloomberg.
“There is still some supply out there, but it’s trading at a clearing price that is obviously very high."
Read more on this story here:China's energy crisis will rock the whole world.
Renewable electricity will start to flow through a new 447-mile cable that stretches from Norway to the UK this morning, providing some relief to Britain as it grapples with an energy crisis.
National Grid's €1.6bn (£1.4bn) cable, which connects Blyth in Northumberland with the Norwegian village of Kvilldal, near Stavanger, will start with a maximum capacity of 700 megawatts (MW) and gradually increase to the link’s full capacity of 1400MW over a three-month period.
A global energy shortage triggered record power prices in the UK last month, pushing 10 small suppliers out of business.
The UK's shortage has been sparked by low wind speeds , among other factors.
Although construction on the cable has been on-going for the past six years, National Grid hinted that it could alleviate some of the problems Britain is facing today.
"When demand is high in Britain and there is low wind generation, hydro power can be imported from Norway, helping to ensure secure, affordable and sustainable electricity supplies for UK consumers," it said.
Shares of online washing machine and fridge retailer AO World plummeted 20pc this morning, after the company said growth impacted by the nationwide shortage of delivery drivers.
In a trading update, bosses said:
In the UK, revenues over the period increased c.6pc, with growth impacted by the nationwide shortage of delivery drivers and ongoing disruption in the global supply chain.
AO World said it will report interim results for the half year on November 23.
Only three stocks in the FTSE 100 have made gains this morning -Unilever(up 0.2pc),Pershing Square Holdings(up 0.2pc) andPolymetal(up 0.04pc).
The rest of the index is in the red. Losses were led byJD Sports(down 3.7pc),Melrose Industries(down 3.1pc) and BA ownerIAG(down 2.9pc).
BPandRoyal Dutch Shellalso lost 1.7pc and 0.9pc, tracking oil prices lower.
On the FTSE 250, online electricals retailerAO Worldfell lost a dramatic 20pc after reporting its revenue in the first half was hit by a shortage of delivery drivers.
CompetitorCurry'salso fell 6.4pc.
JD Wetherspoonshed more than 5pc after sinking to its biggest ever loss.
Sainsbury’s is creating 22,000 new temporary jobs to help it meet higher demand over the festive period.
The supermarket chain, which also owns Argos, said it will be hiring store staff, delivery drivers and logistics workers as part of its “biggest ever Christmas recruitment drive”.
Roles will be available across the UK from Friday, four weeks earlier than last year, as the firm seeks to get ahead with its preparations for a busy Christmas period.
European gas prices have climbed this morning to €100 per MWh for the first time ever, as the global energy crunch deepens.
Futures traded in the Netherlands gained 2.3pc on Friday after China’s central government officials ordered the country’s top state-owned energy companies - from coal to electricity and oil - to secure supplies for this winter at all costs.
Energy prices are rising from the US to Europe and Asia as the economy recovers from the global pandemic.
“Gas can go now as high as it needs to knock demand out,” said Andreas Gandolfo, leader of the European power team at BloombergNEF. “Demand is now driving the gas price.”
The FTSE 100 has plunged more than 1pc on opening to 7,007.7, following Wall Street's losses and factory data from Asia that underscored concern about slowing economic growth.
The FTSE 250 is also down 0.96pc at 22,810.1.
Asia's manufacturing activity stagnated in September, after factories were shut in response to the new waves of coronavirus and signs of slowing Chinese growth weighed on the region's economies.
Surveys released today showed countries where large outbreaks of the Delta variant receded saw an improvement in activity, such as Indonesia and India.
But factory activity in September shrank in Malaysia and Vietnam.
In Japan, activity grew at the slowest rate in seven months, as chip shortages and supply disruptions weighed on the region.
China's waning economic momentum also dealt a fresh blow to the region's growth prospects, with the official Purchasing Manager's Index (PMI) on Thursday showing the country's factory activity unexpectedly shrank in September due to wider curbs on electricity use.
Wetherspoon sunk to its biggest ever loss last year, as the pub chain said it was struggling to hire enough staff in "staycation" holiday hotspots.
Pre-tax losses snowballed from £34.1m to £154.7m in the 12 months to July 25, compared with a year earlier.
Sales also fell from £1.26bn to £773m, following lockdown restrictions which shuttered the pub chain for 19 weeks.
However chairman Tim Martin emphasised there were signs of recovery.
He said sales in the past nine weeks were only 8.7pc lower than the same period before the pandemic and have continued to improve in the past four weeks.
However, sales in Wetherspoon's airport branches were yet to bounceback and were still down 47.3pc on pre-pandemic levels.
He also noted a shortage of staff, especially in areas of the country that were attracting more holiday-makers than usual.
"Some areas of the country, especially "staycation" areas in the West Country and elsewhere, have found it hard to attract staff," he said.
Kitty Ussher, chief economist at the Institute of Directors, commented on the plunge in confidence.
She said:
The business environment has deteriorated dramatically in recent weeks.
Good morning.British bosses’ confidence in the economy “fell off a cliff” in September as concerns over the UK’s recovery from the pandemic mounted, according to the Institute of Directors’ (IoD).
The IoD’s Economic Confidence Index, which measures the net positive level of optimism in the UK economy amongst directors, recorded a value of just under zero (-1pc) last month.
This was down from highs of +22pc in July 2021 and marks the lowest level since early February, at the height of the third lockdown.
Three-quarters of IoD members expected their costs to be higher in the next year compared to the last 12 months.
Meanwhile, 57pc expected their revenues to be higher.
5 things to start your day
1)Poorest must not bear brunt of green energy switch costs:The poorest households are at risk of suffering the most ifBritain hikes gas bills to fund its switch to green power, a government infrastructure tsar has warned, as energy prices surge to record highs.
2)Inflation surge set to trigger three rate rises next year:Markets are bracing for as many as three Bank of England interest rate rises next year to stop inflation running out of control after the economy bounced back faster than expected in the second quarter.
3)Inside woke media company Ozy: Hit with claims of impersonations and inflated viewing figures, Ozy Media is struggling to stay afloat
4)Jeff Bezos's rocket company Blue Origin accused of 'toxic' culture:Jeff Bezos's Blue Origin rocket company has been accused of fostering a "toxic" culture in which senior executives are alleged to have sexually harassed staff and in one instance “physically groping” a female employee.
5)Oxford Nanopore boss worth £60m as shares soar on London debut:Chief executive Gordon Sanghera has held onto his stake in the gene sequencing specialist, which raised £350m. Shares in the business jumped from their initial listing price of 425p to more than 600p, valuing Oxford Nanopore at £4.6bn
What happened overnight
Asian markets tumbled on Friday on the tail of Wall Street's worst monthly loss since the beginning of the pandemic.
Tokyo skidded 2pc and Australia's benchmark sank 2.3pc. Markets in Shanghai and Hong Kong were closed for holidays.
The S&P 500 ended September down 4.8pc, its first monthly drop since January and the biggest since March 2020.
Tokyo's Nikkei 225 lost 590.83 points to 28,861.83, while the S&P/ASX 200 declined 2.3pc to 7,165.10. The Kospi in Seoul lost 1.4pc to 3,026.87. Shares also fell in Taiwan and Southeast Asia.
Coming up today
Corporate:JD Wetherspoon(Full-year results)
Economics:Manufacturing PMI(UK, US, EU); personal consumption expenditure index(US) || Why the Kings Are the Darlings of NBA Institutional Investors: Despite it being widely known within NBA circles that some Sacramento Kings ’ investors were looking for an exit, those limited partnership stakes in the franchise sat on the proverbial market for some time. The team’s lack of on-court success, which some blame on controlling owner Vivek Ranadive , and location (few would consider California’s capital the sexiest NBA market) have been cited among the reasons why. But both Arctos Sports Partners and Dyal Capital saw inherent value in the Kings, recently gobbling up LP interests (Arctos bought the stakes previously owned by Mark Friedman, Brad Jenkins, Mark Mastrov, Andy Miller and Kevin Nagle). Arctos has acquired 17% of the club in aggregate, in a deal that valued the club at $1.8 billion ; Dyal upped its stake from less than 5% to between 5-10% with a series of acquisitions at the same valuation. Several individuals familiar with the PE firms’ thinking suggested the NBA’s bright future, Sacramento’s status as an underappreciated market, the real estate ecosystem that exists around the arena and the opportunity to align with the entrepreneurial Ranadive were among the attributes that attracted institutional money to the franchise. More from Sportico.com Arctos Buying 17% of Sacramento Kings at $1.8 Billion Valuation NBA's Warriors Sell Minority Stake to Arctos at $5.5 Billion Valuation Move Over, Billionaires; the Really Big Money Wants In on Sports JWS’ Take: Arctos’ and Dyal’s consolidation of LP interests in Sacramento is exactly what the NBA sought to accomplish when ownership voted to allow investment firms to take LP stakes in teams, a means of bringing growth capital and liquidity to franchises. The Sacramento Kings’ ownership group, led by Ranadive, came together in 2013 to ensure the team remained in the market and that a new arena would get built (both were accomplished). But as a result, the club had more investors—more than 30 at one point—than the average NBA team has. With multiple LPs looking to exit, it became more difficult for any one of them to sell a small stake (which is among the reasons the league has tried to limit the number of LPs within a single franchise and now requires those individuals to hold at least a one percent stake). Story continues It is also important to remember that the pool of individuals capable of making a nine-figure investment (like Arctos did) and also looking for an LP stake in an NBA team is predictably shallow. Typically, if an investor is putting up that kind of money, they want to be a controller. League rules currently prevent investment firms from realizing that possibility. Earlier this week, Sportico reported Arctos has $2.9 billion in assets in its first fund. Ranadive said in a statement, “We are excited to welcome Arctos Sports Partners to the franchise and look forward to continuing to make Sacramento Proud.” One can understand why growth investors would want to buy into an NBA team. “People who have held these interests for seven, 10, 15 years, and sometimes longer durations, have likely experienced significant capital appreciation,” said Drew Laurino, senior managing director at Blue Owl Capital (NYSE: OWL), the investment firm that combined Owl Rock and Dyal Capital in a SPAC merger last year. The belief is that the potential for global growth, the anticipated increase in media rights revenues (both nationally and abroad) and the chance to be at the forefront of several tech-related trends (including sports betting) will ensure that appreciation continues. For reference, Ranadive acquired majority control of the team eight years ago in a deal that valued the franchise at $535 million. Sports teams are often viewed as trophy assets, and Sacramento is certainly not as exciting a market as, say, San Francisco (Arctos bought into the Warriors back in May) or even Phoenix (Dyal owns a stake in the Suns). But Arctos, which declined to comment for this story, and Dyal aren’t your typical LP investors (Arctos has a global mandate; Dyal is city-agnostic within the NBA), and there are a handful of key attributes to like about Sacramento that are often overlooked. The market has been among the biggest in-state beneficiaries of the egress out of the Bay Area. It sits just 90 miles from San Francisco, where more than half of the country’s billionaire production has taken place over the last decade (which helps to fortify market demographics), and small-market teams receive a disproportionate amount of league revenues ( revenue sharing may increase in the next CBA). The Kings are also the only game in town, which makes Sacramento one of the most attractive DMAs for a pro sports team. The lack of competition also means a longstanding and loyal fan base exists despite the lack of winning over the last decade. “We want good baseline economic support for a team and the value [we’re buying in at] without having to make a deep playoff run every year,” Laurino said. The primary goal of private equity is to generate a return on investment for fund investors. So, the decision to align with a forward-thinking control owner, focused on driving local revenues and value beyond the club, makes sense for a passive minority partner. “We believe it’s a well-run team, and Vivek is a smart guy. He’s built big businesses, and he runs [the team] like a business. We want to partner with good people who run great businesses,” Laurino said. Ranadive is also widely respected among his peers, holding an active role on several committees that will influence the long-term direction of the league, including the blockchain advisory board and social justice coalition. In theory, that should provide access to insights developed by the league at the national and global level, which can only help the franchise at the local level. And with Ranadive’s background as a tech entrepreneur, the franchise is uniquely positioned to implement those insights (see: the Kings were the first pro sports team to accept Bitcoin). Arctos Sports Partners partner and co-founder Jordan Solomon said, “We admire how Vivek and his leadership team are data driven and leverage technology and insights to build and grow the business–themes we embrace in building our own firm.” The team does not own its building (the Golden 1 Center), but arena economics are attractive. “Their relationship with the city gives them full economic control, which we think is a pretty valuable asset,” Laurino said. The team also operates the adjacent real estate, which they have turned into a mixed-use development, and owns land at the site of the old Arco arena, so there is a local real estate opportunity that comes with investment in the team, too. It is worth noting the Golden 1 was named the “ highest tech stadium in sports” in 2016. If the NBA ever allows franchises to expand their geographical footprint into international markets the way the NFL is , Sacramento would undeniably be well-positioned to take advantage of the opportunity. Ranadive is the only control owner in the league of Indian descent. And while it isn’t China, India is still a market with 1.3 billion people that are growing to love the game. Basketball is tied with soccer as the second fastest growing sport in the country. || Bitcoin sets new record above $66K as market cheers 'almost perfect' ETF debut: Bitcoin rallied to a fresh record high above $65,000 on Wednesday, as excitement over its first exchange-traded fund (ETF) and another soon to come reached a fever pitch. As the largest cryptocurrency by market capitalization spiked by over 7% on the day, investors cheered the Proshares Bitcoin Strategy ETF ( BITO ), which launched on the the New York Stock Exchange (NYSE) in the previous session. The first ever BTC ( BTC ) related fund available to U.S. investors, BITO has helped sweep crypto prices higher in a brisk rally pushing the digital coin as high as $66,928.67 in early dealings. While some market participants have questioned the utility of the new product , it will offer people a new way to gain exposure to BTC via brokerage accounts. BITO's debut was the second largest ever for an ETF, reflecting massive interest in the crypto sector. However, incoming buyers especially first-time crypto owners should be forewarned: the new Bitcoin ETF(s) won't trade exactly like the market digital coin that tends to fluctuate wildly. The Securities and Exchange Commission (SEC) approved the new ETF as futures based, meaning they're derivative, based on the underlying BTC price. That makes them more complex and expensive to own than holding Bitcoin outright. But Grayscale Investments and the New York Stock Exchange is moving to convert the worlds biggest Bitcoin fund into a spot-based ETF, capitalizing on the market's embrace of the new fund and a regulatory environment that appears to be shifting in favor of cryptocurrency. "The daily correlation of BITO to spot Bitcoin is going to be almost perfect," Eric Balchunas, senior ETF analyst at Bloomberg, told Yahoo Finance Live, even if BITO will probably miss the price of Bitcoin by 5 to 10% over the course of a few years, he added. "Advisors probably won't buy it," said Balchunas. "Its going to get exciting but that excitement will be driven by traders, not longterm investors." Investors have been clamoring for a fund based on spot prices that would better serve retail investors. However, the SEC chose to approve BITO first because, as futures-based products they are governed by a 1940s law act that gives investors a higher degree of protection. Other Bitcoin ETF contenders including Grayscale, which offers ( GBTC ) remain optimistic that the futures-based ETF will pave the way for a spot product. But near-term, Balchunas remains bearish given that SEC Chair Gary Gensler appears less interested in the spot ETF for Bitcoin, because it falls under a 1933 securities provision which grants less investor protection. Story continues "Gary Gensler just isn't really comfortable with the 1933 act," said Balchunas. Referring to the possible timeline for offering for a Bitcoin spot ETF, he added: "If you forced me to pick a date for that I would probably go with a year to eighteen months." What investors need to know If you've never traded futures or owned a futures-based ETF, the key difference is that the returns of BTC futures contracts dont mirror the returns of the underlying Bitcoin market price longer term. Two key terms the novice investor might need to know are contango" and "backwardation." The former is a condition where the futures price is above the expected future spot price, while the latter refers to the reverse (the spot price is above the futures price). Taken together, it means investors will sometimes gain or lose value longer term by owning the futures-based BTC ETF, even while the price of Bitcoin wont fluctuate the same way. But contango and backwardation also open another opportunity for a trade called "cash and carry." The point is to profit from this price difference between BTC futures and the underlying Bitcoin price, also called the futures premium. Traders could employ the cash and carry strategy for years. But now with the release of the futures-based ETF, the premium is expected to get much larger. Once it does, it will serve another way for U.S. funds and pro-traders to earn profit off BTC futures. Yet crypto investors believe that most retail investors who arent active futures traders probably aren't interested in the cash and carry trade. However, they will need need to understand that an increasing premium in BTC futures means that longer term, it will likely fluctuate based on the additional factor of professionals commodity traders making more sophisticated plays on the product. Open interest on CME Futures at an all-time-high Shiliang Tang, Chief Investment Officer at the crypto hedge fund LedgerPrime, is nonetheless optimistic for how the futures-based ETF might spur the price of Bitcoin over the near-term, with Wall street investors piling into this new type of fund. The Chicago Mercantile Exchange (CME), where the new fund is listed, "is generally reflective of institutional capital," Tang told Yahoo Finance. He explained that the open interest on CME Bitcoin futures is a solid way to gauge the level of participation that pro-traders and institutional investors are showing in BTC Futures at least in part to capitalize on the cash and carry trade. Vaulting past its previous all-time high of $3 billion, the open interest in BTC Futures on the CME currently sits at $3.6 billion according to the crypto exchange Bybit . The aggregated open interest in Bitcoin futures across all major exchanges now sits above $23 billion and climbing, not far from this years all-time-high ($27.3 billion) set just before before Coinbase's ( COIN ) initial public offering in April. David Hollerith is a senior reporter covering the cryptocurrency and stock markets. You can follow him @DsHollers . View comments || US overtakes China as world’s largest Bitcoin mining hub: T he United States has supplanted China as the world’s largest center for Bitcoin mining after Beijing announced that the practice would be forbidden. The U.S. now accounts for more than 35% of the global share of Bitcoin mining, a figure far higher than just a year ago, when it accounted for just 4.2%, according to research published on Wednesday by Britain’s Cambridge Centre for Alternative Finance. Kazakhstan is now the world’s second-largest source of Bitcoin mining, followed by Russia. Bitcoin mined in China had previously dominated the global supply. The country accounted for nearly 67% of Bitcoin mining worldwide a year ago. Its dominance was whittled down through a series of regulatory crackdowns by Beijing, which culminated in China banning the practice this year. CRYPTO PLATFORMS BEGIN CUTTING OFF CHINESE USERS AFTER GOVERNMENT DECLARES TRANSACTIONS ILLEGAL By March, less than half of the world’s Bitcoin was being mined in China, and by June, that number had dwindled to about 34%. As of July, mining operations in mainland China had effectively disappeared, although data show that some of the mining rigs may have been relocated. Mining in Kazakhstan, which borders China to the north, ballooned from 8.8% in June to more than 18% in August. Bitcoin mining is how new Bitcoins come into being. To mine for Bitcoin, high-powered computers are used to verify virtual coin transactions. Bitcoin operates on what is known as a blockchain, essentially a public ledger, that contains the history of every transaction. The miners' computers solve complicated math problems in order to add new blocks to the chain and are in turn rewarded with the digital token, making the endeavor profitable. Those rigs consume an enormous amount of power and have raised environmental concerns, especially back when the bulk of the digital asset was being minted in China, which consumes a large share of the world’s coal. Last month, the People’s Bank of China said that not only mining, but all cryptocurrency transactions were illegal and that online services offering trading for cryptocurrencies and overseas cryptocurrency exchanges had been banned. Story continues Exchanges soon began pulling out of China after Chinese Vice Premier Liu He called for a government “ crackdown on Bitcoin mining and trading behavior, and resolutely prevent the transmission of individual risks to the social field.” CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER The news caused the value of Bitcoin to tumble to about $41,000, although since then, Bitcoin and other cryptocurrencies have pared those losses and surged. As of Wednesday, Bitcoin was valued at about $56,500, approaching record highs above $63,000 that were seen in April. Ethereum, the second-largest cryptocurrency by market cap, is up more than 56% from six months ago. Washington Examiner Videos Tags: News , Bitcoin , Technology , China , Foreign Policy , Cryptocurrency , Business Original Author: Zachary Halaschak Original Location: US overtakes China as world’s largest Bitcoin mining hub || ‘Bitcoin Pullback Should Not Come as a Surprise,’ Says Analyst: Afterbitcoincrossed the $50,000 in early September, it appeared that the bulls were back in control. The mood among crypto investors was positive, not least because of El Salvador’s bitcoin integration, which got underway on Sept. 7.
That optimism was interrupted when the bitcoin rally turned into a sell-off yesterday and bitcoin corrected by nearly 20% to as low as $43,000. The bitcoin price has since recovered some of those losses but it remains below $50,000 for now. Long-term investors are used to the volatility, but newcomers might be just getting a taste of their first bitcoin dip.
Lennard Neo, head of research at Stack Funds, published a report that might ease the worries of investors. Neo points to one tool known as thePuell Multiple, which is a reflection of bitcoin supply via miners and the revenues they generated. This indicator is looking bullish despite the market sell-off. Neoexplains,
“Despite the recent bitcoin flush, [the] Puell Multiple remains strong with bitcoin potentially able to breach its $65,000 highs before the indicator reenters the sell-zone.”
In his analysis, Neo points to bitcoin’s “resilience” at the start of September after the leading cryptocurrency broke $50,000 more than once before the downturn. Bitcoin remains “relatively well supported,” he says, above its 200 day moving average. Neo continues,
“The pullback should not come as a surprise, as we anticipated headwinds in our prior report. However, we believe this to be a temporary retracement as leverage longs are flushed with funding rates reset and expect bitcoin to continue trading in an upward channel.”
In addition to the technical indicators, Neo also observed bitcoin’s fundamental strength. This includes the acceptance of bitcoin as a legal currency by El Salvador. The country has scooped up 500 bitcoins in recent days and is not done yet.
Locals who downloaded the Chivo bitcoin wallet were gifted with $30 worth of bitcoin, which they were free to spend at merchants, which in turn are expected to accept the cryptocurrency as a payment method.
Bitcoin Magazine journalist Aaron van Wirdumput it to the test, walking into aMcDonald’sin the city of San Salvador to buy breakfast with bitcoin. He documented how not only did the restaurant accept his bitcoin, but they used the Lightning Network to complete the transaction. Select El Salvador merchants areusingFlexa-fueled Lightning payments for speedy bitcoin transactions.
El Salvador’s bitcoin debut may have been soured by the market sell-off, but based on the latest technical and fundamental analysis, it might not be long before the bulls are back in charge.
Thisarticlewas originally posted on FX Empire
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Gold is a curious metal: it is remarkably heavy, yet soft, extremely inert, but with a luster that is beguiling to almost everyone; which is why it remains the material of choice for jewelry. It is an equally curious investment, and there is no more a divisive subject amongst investing professionals than gold.
We live in a globalized world where economies are all interconnected. Thus, safeguarding our wealth from economic risks and market volatilities is essential. And for Singapore, a global trade hub maintaining the delicate balance of business and diplomacy with its more powerful economic partners more than demonstrates that investing in gold needs to be a serious consideration for every Singaporean’s personal finance.
Gold shines the brightest in times of inflation and uncertainty
The naysayers claim that gold does not yield. It is expensive to produce, it is of not much use for anything other than jewelry, and its price moves around a lot. They are correct.
The pro-gold lobbyists will point out that over time, the price of gold mirrors the cost of producing it, which tends to reflect inflation. It has been a form of money since mankind lived in grass huts: it has a semi-rigid supply, which means Central Bankers can’t debase it, and it is the highest power in money because it has no counterparty. Additionally, gold cannot be conjured out of thin air like the US Dollar, the British Pound sterling, the Singapore Dollar, or any other fiat currency. Gold holds its value over time regardless of what goes on around it.
This is the paradox of gold. There may be no earthly reason to hold gold or for gold to be the one long-term constant in the millennia of innovation and fraud in finance! But it is. And that constant provides protection against all manners of risk and uncertainty. As such, investors ignore gold at their peril.
It is oft-argued that gold has seen its time, and it is time to move on. After all, the collapse of the Bretton Woods system – the abandonment of the gold standard – in 1971 led many people to believe it was time to retire the gold. Well, 50 years on, it’s still very much around. So why is it still relevant today?
The gold market is highly liquid
Well, the gold market is still one of the most liquid markets in the world, with roughly US$200bn traded on recognized exchanges, making it the 3rd largest financial market. But that creates a misunderstanding that gold trades in informal markets in every small town in the world, via traditional jewelers (in India or Indonesia) or pawnbrokers in developed countries. This volume goes unrecorded but is undoubtedly huge. It also underpins an important feature: you need to be in a financial centre to trade securities, but gold can be traded from Toronto to Timbuktu to Temasek (old name of Singapore).
Gold effectively insures your investments against risks
Nowadays, Singaporean investors are bombarded with all sorts of investment instruments and products, most of these are global portfolios which are generally volatile and highly exposed. Thus, having gold in their portfolios can serve to dampen out the volatility. Not only is it liquid, but gold is also one of the rare asset classes that is non-correlated. This means that you can put it in your portfolio as insurance, and you can be comfortable that if the world around you blows up (or when your Bitcoin value tanks), your gold will provide you with safe-haven performance.
Gold can cushion your wealth in black swan events
Consider also a live scenario. The US dollar hegemony that we have witnessed since the end of WWII is increasingly bristling for China. Within Asia, trade is still conducted largely in US dollars. This made sense when Asia’s largest trading partner was the US, but less so now that China is the big kid on the block. So logically, it makes sense to switch intra-Asian trade into RMB.
Irrespective of the lip service paid to China, regional countries are delighted by the military presence in Asia that the US dollar hegemony brings. And no one trusts China or its currency (when compared to the US dollar).
China, if it is anything, is strategically savvy. It is amply aware of the “reservations” other countries pay towards the world’s most populous country and its monetary system. A simple solution to redress the balance, vis-a-vis the US dollar, would be to introduce a gold-backing to the Chinese Yuan. This would have a massive, immediate and strategic impact on China’s position relative to the US and the dollar. Whether China’s astonishing production and purchase of gold over the past 15 years is a precursor to this type of strategic move is pure speculation. However, it does highlight the relevance of gold.
Where your gold is, therein lies your wealth
You may have heard of Central Bank digital currencies – this, perhaps more than anything, highlights the relevance of gold in the modern monetary system. Central Bank digital currencies are hailed by Central Bankers and their acolytes as a new wave of efficiency for managing currency. Even Singapore is now setting up its own digital currency.
For anyone with even a passing understanding of monetary mechanics, Central Bank digital currencies are, at best, a way of stealthily monetizing all the debt on Central Bank balance sheets – i.e., debauching the currency the same way as every other monetary reform has. At worst, they will enable governments to combine fiscal and monetary policy and target their larceny far more effectively. Either way, gold will offer you a safe harbor from the piracy
To hold 6,500 cryptocurrencies or hold a single gold?
It is fair to ask where the increased digitalization of the world leaves such a physical phenomenon. The take-up of Bitcoin and other forms of cryptocurrencies and their anointment by the punditry as “Digital Gold” has certainly had some impact on gold trading. After all, they are all the rage nowadays with 28 percent of young investors already in on it. Money that would ordinarily have headed into gold has headed into Bitcoin and other cryptos. And it is arguable that gold would be far higher today were it not for froth taken out of the market by Bitcoin et al.
But that does not affect its relevance. In fact, the proliferation of cryptocurrencies highlights the benefit of gold – you can invest thousands of unanchored cryptocurrencies but there is only one gold. When a currency, including cryptocurrencies, is unanchored, it means its value is not based on anything real or reliable. This is why a single tweet from Elon Musk sent Bitcoin on a nosedive, and why the Chinese ban on cryptocurrencies shook the crypto exchanges.
How Singaporeans can hold gold
The most obvious way to hold gold is via bars and coins, but these typically have relatively high premia (read costs) for purchasing the exposure. There are reasons why you do not find gold bars in most Singaporeans’ homes:
1. A small 1-kilogram gold bar is worth $76,000 at the time of writing. Keeping it around at home is nerve-wracking.
2. When you keep it in a vault, you pay vault fees.
3. Most people buy insurance to protect their gold.
They also have some inherent problems like forgery, theft, and a lack of easy liquidity. As such, they were superseded by various “paper” gold instruments, from ETFs to derivatives. While these are cheap and liquid, and accessible, they are not gold, but a facsimile. You own a claim on gold via a counterparty and not the underlying gold.
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Market Wrap: Bitcoin Retreats From All-Time High; Ether Outperforms: Bitcoin’s price continued to decline on Friday, ending the week down about 2% compared to a 1.7% gain in the ether cryptocurrency. Some traders who went long on BTC ahead of the launch of ProShares’ futures-focused exchange-traded fund (ETF) this week appear to be taking profits. Still, some investors expect pullbacks to remain limited for the remainder of the year. And one firm mentioned that alternative cryptocurrencies such as ether could see further upside relative to bitcoin. “We remain optimistic but are cautious about downside risk,” crypto trading firm QCP Capital wrote in a Telegram announcement. The firm noted that leverage levels are high in the bitcoin futures market, which typically precedes a price pullback. QCP also expects ether to outperform bitcoin in the near term. Valkyrie Investments’ Bitcoin Strategy ETF, another futures-focused product, went live on the Nasdaq under the ticker BTF on Friday. The ETF’s share price tracked bitcoin lower during its first day of trading, down about 4% and closing at $24.30. Latest prices Bitcoin (BTC): $60,815, -3.0% Ether (ETH): $3,974, -2.4% S&P 500: $4,544, -0.11% Gold: $1,793, +0.62% 10-year Treasury yield closed at 1.65% BITO pushes limits on CME Group The amount of money locked in the CME-based futures contracts has tripled this month, with more than $1.5 billion flowing into the market after the ProShares Bitcoin Strategy ETF (NYSE: BITO) went live on Tuesday, reported CoinDesk’s Omkar Godbole. However, BITO could be exposed to a significant tracking error, or the difference between bitcoin’s performance and actual returns from the fund. This is because the CME allows a single entity to own a maximum of 2,000 contracts in the front-month futures while capping the overall positions across different maturities at 5,000 contracts. BITO appears to be close to hitting the limit in the October expiry and may continue to snap up longer duration futures, according to Godbole. Story continues Ether gaining ground relative to bitcoin Ether, the world’s second-largest cryptocurrency by market capitalization, slipped below the $4,000 price level on Friday. Similar to bitcoin, technical indicators show ether is at its most overbought point since September, which preceded a sharp price pullback. This time, however, ETH’s pullback could be limited to around the $3,700 support level. The ETH/BTC ratio stabilized over the past week, suggesting that traders are beginning to rotate out of BTC and into ETH. The ratio held support around 0.06 and could face short-term resistance around 0.07 and 0.08. Altcoin roundup ETH second in Coinbase exchange trading volumes. Last week, ETH landed the second spot in terms of trading volume on the Coinbase exchange. “The ETH buy ratio has picked up, suggesting a bounce in ETH/BTC might be in the making,” Coinbase wrote in a Friday newsletter. Elsewhere, some layer one protocols maintained their relatively lackluster volumes. Current taps Bison Trails to support Polkadot DeFi plans: Fintech company Current is working with Bison Trails, a blockchain infrastructure that was acquired by Coinbase in January, to sync up with Polkadot parachain networks Karura and Acala in an effort to bring DeFi services to its three million users, CoinDesk’s Eli Tan reported . The company has partnered with Ripple and Ethereum before but neither came to fruition due to technical limitations, the company said. Ripple CEO says the SEC helped ether overtake XPR as no. 2 crypto: Ripple CEO Brad Garlinghouse says ether was able to surpass XRP as the second-most popular crypto by market cap because it had been granted a regulatory green light and received favorable treatment by the U.S. Securities and Exchange Commission, Cointelegraph reported . The SEC has been pursuing Ripple over claims that its associated XRP currency is an unregistered security. The SEC does not consider bitcoin or ether to be securities. Relevant news Walmart Has Quietly Begun Hosting Bitcoin ATMs These 10 Stocks With Digital Asset Exposure Have Bullish Charts, BofA Says Spanish Banks Are Preparing to Offer Crypto Services: Report Kazakhstan to Limit Power for Crypto Mining to 100 MW Nationwide Other markets Most digital assets in the CoinDesk 20 ended the day lower. Notable winners as of 21:00 UTC (4:00 p.m. ET): Algorand (ALGO): +6.32% Filecoin (FIL): +2.97% Dogecoin (DOGE): +2.83% Notable losers: Bitcoin (BTC): -2.34% Ethereum Classic (ETC): -2.09% Litecoin (LTC): -2% || How a Startup Is Supplying a Whole City With Heat From Bitcoin Mining: MintGreen, a Canadian cleantech cryptocurrency miner, is working with Lonsdale Energy Corp. to supply heat to the city of North Vancouver, British Columbia, from bitcoin mining.
The heat source will be introduced in 2022 and will prevent 20,000 metric tons of greenhouse gas per megawatt from entering the atmosphere compared with natural gas, according to a statement shared with CoinDesk.
MintGreen’s proprietary “Digital Boilers” recover 96% of the electricity used for bitcoin mining as heat that is then used to supply communities and for industrial processes.
The company uses an “immersion” technology that captures the heat generated in mining and goes to hot water utilities known as “District Energy,” which is then distributed to the customers, MintGreen’s CEO, Colin Sullivan, explained to CoinDesk in an interview.
The utility working with MintGreen serves about 100 buildings and the company will sell the heat under a contractual long-term agreement, Sullivan added.
On March 16, digital asset manager CoinShares said itparticipatedin MintGreen’s seed investment round, noting that the miner’s “immersion” system captures and transfers the heat generated by crypto mining servers to industrial-scale hot water utilities.
Using heat from bitcoin mining is not new; rather, it has been happening around the world on asmaller scale.
MintGreen aims to have the system up and running by winter of next year in what would be the first deployment of the company’s technology on a large scale, according to Sullivan.
The City of North Vancouver’spopulationwas 52,898 as of the 2016 census.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: up || Prices: 61527.48, 63326.99, 67566.83, 66971.83, 64995.23, 64949.96, 64155.94, 64469.53, 65466.84, 63557.87
|
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 for 2019-02-01]
BTC Price: 3487.95, BTC RSI: 40.23
Gold Price: 1316.90, Gold RSI: 71.51
Oil Price: 55.26, Oil RSI: 61.66
[Random Sample of News (last 60 days)]
Bitcoin Exchange Giant Huobi Might ‘Struggle to Survive’ Bear Market: ByCCN.com: Throughout 2018, cryptocurrency exchanges posted record profits, raking in hundreds of millions of dollars in trading fees even as the bitcoin price plunged as much as 80 percent from its all-time high. However, as the crypto bear market extends into 2019, cracks are beginning to form in the hull of this once-impervious industry as well.
https://twitter.com/Xentagz/status/1056973259093225472
Speaking in an interview with theSouth China Morning Post, Weng Xiaoqi, the chief executive of Huobi Global, said that the bitcoin exchange giant might “struggle to survive” if the cryptocurrency market continues on its bearish trajectory.
“We do not know how long the bear market will last, so it is still possible that we will struggle to survive,” Weng said in the interview at his Beijing office. “We have to plan in advance and spend money carefully.”
Read the full story onCCN.com
. || Bitcoin Steady as Cryptocurrencies Slip, on Track to Close Out 2018 Bear Market: Investing.com - Bitcoin hovered around the unchanged mark on Thursday amid a small selloff in rival cryptocurrencies as investors prepared to close their books on the 2018 bear market. Bitcoin rose 0.1% to $3,727.20 on the Investing.com Index as of 10:53 AM ET (15:53 GMT). The largest digital currency by market capitalization was on track to close out the year with more than a 70% annual decline. It was the year the bubble popped, with a resounding crash heard around the world. The entire asset class took a beating and no cryptocurrencies were spared, Investing.com analyst Clement Thibault wrote in his yearly review of the industry . Thibault pointed out that other digital rivals such as Ethereum, XRP and Bitcoin Cash registered even larger losses in 2018. While this expert thinks cryptocurrencies should still be considered viable assets, he recommends adopting a more classic investing strategy with regard to the digital assets. Dont let FOMO (fear of missing out) rule. Instead, keep a clear head and choose your bets wisely. In other cryptocurrency trading, ethereum, or Ether, decreased 1.6% to $122.94, and Litecoin was at $29.24, off 0.4%, while XRP slipped 1.0% to $0.36063. Related Articles Crypto Prices Rise; New York Launches Task Force to Study Blockchain Technology How to Last the Crypto Winter? Seek Simplicity, Manage Complexity Thai National Tech Development Center to Introduce Blockchain in Voting || Bitcoin Nothing More Than a Lottery Ticket: Harvard Economist: bitcoin lottery ticket gambling Former IMF Chief Economist and current Harvard University Professor of Economics and Public Policy Kenneth Rogoff believes that bitcoin and other cryptocurrencies currently amount to little more than lottery tickets at this moment in time. Writing in the Guardian on Monday, Rogoff stated that while some believe that cryptocurrencies have had their day and are on an irreversible downward slide, it is actually difficult to say with certainty that their value will actually fall to zero. In his view, several questions exist about the ability of large economies to successfully embrace cryptocurrency, which means that outside of joint regulatory action, national level adoption of cryptocurrencies will likely be pushed only by weak pariah states like Iran , Somalia, Venezuela , and North Korea . This he says, makes it difficult to predict the eventual fate of this asset class. Rogoff Raises Questions about Bitcoin In the article, Rogoff calls into question the very intrinsic value of bitcoin, stating that its generally held status as digital gold is unsustainable because unlike real gold , it has no application outside of a monetary setting, and the massive energy consumption required to keep it functioning is substantially less efficient than a central banking system. According to him, large economies will not tolerate cryptocurrencies in their current state much longer because of their capacity to facilitate money laundering , and yet if their anonymity/pseudnymity is stripped away, they will lose their mass appeal, which effectively places bitcoin in a catch-22 position. As a result, Rogoff believes that the long-term use and adoption of cryptocurrency in its current form lies outside of large, regulated economies, which essentially will make it the preserve of a group of failed states like Venezuela, which has made several headlines with its plan to revitalise its devastated economy with the petro . Raising further question about the future of bitcoin, Rogoff said: Story continues Regulators are gradually waking up to the fact that they cannot countenance large expensive-to-trace transaction technologies that facilitate tax evasion and criminal activity. At the same time, central banks from Sweden to China are realising that they, too, can issue digital currencies
When it comes to new forms of money, the private sector may innovate, but in due time the government regulates and appropriates. In Rogoffs opinion, what this will lead to is essentially a lottery scenario where bitcoins long-term value is likely to be closer to $100, but may possibly also be $100,000 for a plethora of reasons that are difficult to even visualise at the moment. Explaining why even a widespread public belief in bitcoin as a store of value is not enough to hold its value over time, he stated: Economists (including me) who have worked on this kind of problem for five decades have found that price bubbles surrounding intrinsically worthless assets must eventually burst. The prices of assets that do have real underlying value cannot deviate arbitrarily far from historical benchmarks. And government-issued money is hardly a pure social convention; governments pay employees and suppliers, and demand tax payments in fiat currency. Ultimately he said, it is government actions that will determine whether bitcoin and other cryptocurrency assets can achieve general trade and retail adoption or whether cryptois destined to become the dystopian currency for dark net websites selling illegal goods and services and failed states with collapsed economies. Featured Image from Shutterstock. Charts from TradingView . The post Bitcoin Nothing More Than a Lottery Ticket: Harvard Economist appeared first on CCN . || 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
. || Newsflash: Bitcoin Cash (BCH) Spikes 7.5% to 7-Day High but Concerns Remain: ByCCN.com: Bitcoin Cash ABC opened Wednesday in positive territory, rising more than 7.5% against the US Dollar on a 24-hour adjusted timeframe.
At 1130 GMT, the BCH/USD pair was trading at $129.83 according to aggregated data provided by CoinGecko.com. The total market cap, at the same time, was close to $2.282 billion, Bitcoin Cash's best since January 15, 2019, while its 24-hour adjusted volume was above $256.244 million.
[caption id="attachment_158948" align="aligncenter" width="500"]
Bitcoin Cash 24H Chart Performance | Source: CoinGecko[/caption]
In comparison, other top cryptocurrencies underperformed. While Bitcoin's valued surged by a modest 2%, XRP and Ethereum also jumped 1.6% and 2.2% on a 24-hour adjusted timeframe. Only EOS and Tron came closer to Bitcoin Cash concerning substantial gains. Both the blockchain assets appreciated more than 5% against the dollar.
Read the full story onCCN.com
. || No to Bitcoin Cash: OpenNode Rejects Roger Ver’s $1.25m Fund Offer: Bitcoin payment processing startup OpenNode has rejected a $1.5 million investment gesture made by Roger Ver.
The company, which exclusively supports the Bitcoin payment protocol, confirmed that its vision of a better and more open financial system could not be achieved with Bitcoin Cash, adding that it would spend 100% of its resources on Bitcoin and its second-layer payment solutions instead.
OpenNode aims to process bitcoin transactions in real-time to boost the digital currency’s adoption among enterprises and businesses. It supports Lightning Network, a second-layer payment protocol launched to confirm Bitcoin transactions away from the main chain. The efforts led OpenNode to raise $1.5 million in seed funding from investor Tim Draper.
Ver, who believes thatLightning Network is an inferior solutionto solve Bitcoin’s scalability issues, attempted to match Draper’s bid. He confirmed that he would invest $1.5 million into the OpenNode project if they readily accept Bitcoin Cash instead of Bitcoin as their only payment processing protocol. Excerpts from his statement:
“I don’t need one share whatsoever [for my investment]. All I require is [OpenNode] to work on payment processing of Bitcoin Cash, the version of Bitcoin that can actually scale to become the money for the world.”
Ver predicted – through a Moore Law-enabled algorithm – that it would take close to two centuries for the world to board the Lightning Network solution. But in the case of Bitcoin Cash, the time would reduce to just shy of 50 years.
“Bitcoin cannot become the money for the world in a reasonable amount of time with its block size limited to 1 megabyte to 4 megabytes,” he added. “Even with Schnorr’s signature, you are still looking at far more time for BTC to be ready for the world than you are with Bitcoin Cash thanks to Moore’s Laws.”
The community was quick to respond to Ver’s claims against Bitcoin, with many bashing him for twisting mathematics to suit his agenda. CryptoTesla on Twitter argued that the Bitcoin Cash CEO was ignoring the fact that Bitcoin could scale in the next 100 years while being progressive about his project.
“Have these people never heard of Moore’s Law? On top of this, he assumes BTC will never have a Block Size increase in over 100 years? In summary: his numbers for BTC have no progress in them while his numbers for BCH have more progress than the growth we saw last decade.”
Featured image from Shutterstock.
The postNo to Bitcoin Cash: OpenNode Rejects Roger Ver’s $1.25m Fund Offerappeared first onCCN. || Poll: 63 Percent of Senior Execs Lack Understanding of Blockchain Tech: In a survey of institutional investors by the Global Blockchain Business Council (GBBC), 63 percent of respondents believe that senior business executives have a poor understanding of blockchain technology. Cointelegraph acquired a copy of the study on Jan. 22. In December and January the market research company PollRight interviewed 71 institutional investors , including private equity, hedge funds and pension funds on behalf of GBBC — a trading association for the blockchain ecosystem. While most respondents believe that senior business executives do not understand blockchain, 30 percent consider their knowledge of the emerging technology as “average.” The remaining 7 percent described senior executive understanding of blockchain as “good.” Moreover, 76 percent of respondents claimed they do not feel that senior business executives at large firms are committed to blockchain, but expect global expenditures on blockchain technology to increase by 108 percent in 2019. 33 percent of respondents believe that in two years, the application of blockchain in financial services and banking will dramatically increase. The participants of the survey also named digital identity and healthcare as fields which will be significantly impacted by blockchain technology. As Cointelegraph previously reported , some high-profile crypto bulls expect institutional demand for cryptocurrencies to drive the industry forward in 2019. In October Mike Novogratz , an ex- Goldman Sachs partner and founder of crypto merchant bank Galaxy Digital , said that institutional demand will bring Bitcoin ( BTC ) to new highs in Q1 or Q2 2019. However, last month Bloomberg reported that major Wall Street institutions were delaying plans to enter the crypto space, as the values of major cryptocurrencies continue to fall into the new year. Insiders told Bloomberg that Goldman Sachs, Morgan Stanley , and Citigroup gave up their crypto plans until a time when demand is higher. Related Articles: StanChart’s Singapore Unit Completes First Blockchain-Powered Trade Finance Deal $20 Million Funding Round in Blockchain Firm Symbiont Includes Citigroup and Nasdaq Crypto Custodian Backed By Andreessen Horowitz and PayPal Co-Founder Launches US Crypto Exchange Launches Spot Trading for Institutional Investors || Binance’s BitTorrent Token Sale Sells Out in Minutes Amid Technical Issues: A public sale of 59.8 billion BitTorrent Tokens (BTT), worth roughly $7.2 million, sold out in a matter of minutes on Binanceâs Launchpad earlier today, despite technical difficulties that frustrated some users.
At 3:00 UTC, thetoken sale platformopened its doors to BTT investors through two separate sale sessions, one for those paying with the token native to the Tron blockchain, TRX, and the other for those paying with Binanceâs native exchange token, BNB.Each BTT token was valued at $0.00012 during the sales, according tosale informationposted on Binance’s website.
BTT is the first token in BitTorrent’s 17-year history. The decentralized file-sharing service was acquired by Tron last summer and plans for BTT, which runs on Tron’s blockchain, were rolled out in awhite paperearlier this month.
Tron CEO Justin Sun Wants to Hire You to Organize His House
Both of today’s sales began at the same time and were scheduled to end either once the hard cap of the sale was reached or when the clock struck 10:00 UTC on February 3. The minimum purchase amount was 100,000 BTT.
According to atweet from Tron CEO and founder Justin Sun, the 23.76 billion token cap for the BNB session was reached in just 13 minutes and 25 seconds, while the 35.64 billion token cap for the TRX session was fulfilled in 14 minutes and 41 seconds.
Information from Binance reveals there were 622 participants in the TRX session and 340 participants in the BNB session.
Binance CEO and founder Changpeng Zhaotweetedthe sale could have ended in just seconds if not for technical issues with the Launchpad platform.
SF Summit Shows BitTorrent Is Boosting Tron’s Appeal
At 3:20 UTC, Zhao tweeted:
âBoth sessions concluded. Took about 18 minutes, due to a system issue, would have taken 18 seconds otherwise. Demand was astronomical.â
In an attempt to be transparent about the inconvenience, Zhaoadded:
âFull transparency. The issue experienced today was caused by the ‘user agreement confirmation’ button caching/locking. Most of the stress tests focused on the buy process, this part was not covered thoroughly enough. The order of requests received was preserved.â
The first of manyairdropsto TRX token holders will take place on February 11, at which time 10.89 billion tokens or 1.1 percent of the total circulating supply will be airdropped. Subsequent airdrops will occur through 2025, according to a January 20postby the BitTorrent Foundation.
Disclosure: The author holds BTC, AST, REQ, OMG, FUEL, ZIL, 1st and AMP at the time of writing.
Binance phone image via Shutterstock
• Binance Targets EU, UK Traders With New Fiat-to-Crypto Exchange
• BitTorrent’s Master Plan to Bring a Tron-Powered Crypto Token to the Masses || Bitcoin Flat; Facebook Expands Blockchain Team: Investing.com - Cryptocurrencies were lower on Monday, with Bitcoin flat as the currency struggles to bounce back from its recent slump.
Bitcoin inched up 0.15% to $3,514.14 on the Investing.com Index, as of 9:13 AM ET (14:13 GMT).
Digital coins have fallen dramatically in recent weeks, with Bitcoin trading at 90% less than its value a year ago as traders worry about increased regulatory scrutiny and volatility.
Cryptocurrencies overall were lower, with the total coin market capitalization at $112 billion at the time of writing, compared to $116 billion on Sunday.
Ethereum, or Ether, decreased 1% to $91.59 and Litecoin was at $24.26, down 5.5%, while XRP slumped 1.8% to $0.30364.
In blockchain news, Facebook (NASDAQ:FB) has five job openings for its blockchain operation. The social media site started its blockchain team in May with the idea of just exploring the technology behind Bitcoin and other digital coins. The team is now expanding and seeking to fill positions in marketing, data science and software engineering.
Elsewhere, crypto exchange Gemini is supporting the trading of Bitcoin Cash’s fork, Bitcoin ABC, after obtaining approval from the New York State Department of Financial Services.
The fork of Bitcoin Cash is one of the catalysts analysts say caused the recent decline in the price of Bitcoin.
Gemini said it would evaluate Bitcoin SV, the other fork of Bitcoin cash, over the coming months. But it has yet to reach a decision on whether to support the withdrawal or trading of the token.
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Sirin Labs (SRN) Denies Intention to Abandon Finney Phone || Bitcoin Generator Exploit Scam Clears Thousands: A website claiming to be taking advantage of an unexplained exploit in Bitcoin to generate coins on behalf of its users has scammed more than .8 BTC to date. We tested the service in order to be sure that it was a scam. Located at bitcoin-generator-2018.bid, the way the scam works is simple enough: it tells you to input a Bitcoin address where youd like to receive an amount of BTC, which you select. You then click a button and a JavaScript runs which aims to fool you into believing that the thing is actually hacking the Bitcoin network on your behalf, and submitting transactions to the network in order to generate coins for you. This reporter tested it using the minimal amounts. He requested .1 BTC and watched the following script play out: Note: this video was made after the transaction had already been tested. Here is the transaction where this reporter sent .002 to 15nLNJc9rfRhqgQMU6F9y85t3hSMG6AYwa, and address which has received a total of nearly 1 BTC and appears to transfer to another address, 3JsXew6FYHEhpcRhfHNgPrxK2kCqchsBxF, whenever its balance reaches .01 BTC or so. Moon Bitcoin Faucet Implicated In Scam A bit of research using WalletExplorer reveals that the second address listed above is actually owned by Moonbit.co.in , a long-standing Bitcoin Faucet. CCN has reached out for comment from the owners of that website. At time of writing, the transaction fee address had received over .8 BTC, or more than $2700 even with the bear market looming and keeping prices low. The scam website also appears to talk about addresses receiving Bitcoin from the generator on a constant basis. At least one of these transactions was totally fictitious a transfer to 1J8DgCiBwWxMkNTEFXWhfVCNGVMEHEuC1N. Its last transaction was received back in October. The blockchain is public, and generating a script to re-run old data from it would be relatively trivial. As we see here in the Javascript they call exploit.js on the site, the whole thing is pre-scripted, including Connection Killed which happens at 18%. Story continues Scams and sites dedicated to scamming are nothing new in Bitcoin. This reporter was impressed by the amount of work put into this scam. If you use the chat box there, it actually works, despite the bots that repeatedly say the same things over and over. The scam plays on the users impulses to get more BTC a mix of greed and faith. New users are particularly vulnerable to scams such as this. At time of last editing of this article, the transaction fee transaction had received at least 8 confirmations, and no Bitcoin had been remitted, thereby verifying that this is nothing more than a scam. Its worth verifying such things, even when scams are so obvious. The post Bitcoin Generator Exploit Scam Clears Thousands appeared first on CCN .
[Random Sample of Social Media Buzz (last 60 days)]
Our eyes on $REP... $BTC market on #Binance. Current Price: Ƀ 0.00462700 || スペシャルセールLypriCel(リプライセル)が40%OFFも(^^)
話題の高濃度ビタミンCサプリメント
大特価で販売してます
https://iherb.co/4tUErDxc
#リプライセル || Top 5 crypto valuta van dit moment:
#Bitcoin: $3,593.20074
#XRP: $0.31530
#Ethereum: $116.31167
#BitcoinCash: $127.82362
#EOS: $2.44793
#bitcoin #cryptocurrencymarket #newcryptocurrency #virtualcurrencyhttps://coinstat.nl/nl/ || Look what I found on http://Coin360.com https://coin360.com/analytics/infura_and_the_inadvertent_centralization_of_Ethereum … || Get Free Bitcoin https://qoinpro.com/55e9e71f51eafc907bb6d9da24d898e6 … || You do not need to know exactly how the software works to understand the crypto world. However, you do have to know the signs so that you don't end up in cul-de-sac or drive the wrong way up a one-way street. #cryptocurrency #blockchain #bitcoin #ethereum http://dld.bz/gRppk pic.twitter.com/wq4otaNOtj || Lightning Bitcoin (LBTC) 24-Hour Trading Volume Hits $322,164.00 https://www.modernreaders.com/news/2019/01/30/lightning-bitcoin-lbtc-24-hour-trading-volume-hits-322164-00.html … #investingnews || USD: 109.720
EUR: 124.830
GBP: 143.338
AUD: 77.835
NZD: 74.291
CNY: 16.159
CHF: 110.305
BTC: 387,729
ETH: 12,655
Thu Jan 24 16:00 JST || Did you ever think you would be watching a tv show made by a Hollywood actor about crypto? Check this out!
#Bitcoin #Cryptocurrency #Crypto #BTC #Blockchain #Ethereum #Entrepreneur #Litecoin #BitcoinCash #Innovation #Hodl #Altcoin
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Trend: up || Prices: 3521.06, 3464.01, 3459.15, 3466.36, 3413.77, 3399.47, 3666.78, 3671.20, 3690.19, 3648.43
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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 2016-01-20]
BTC Price: 420.23, BTC RSI: 50.83
Gold Price: 1107.10, Gold RSI: 59.13
Oil Price: 26.55, Oil RSI: 21.09
[Random Sample of News (last 60 days)]
Lead developer quits bitcoin saying it "has failed": By Jemima Kelly
LONDON, Jan 15 (Reuters) - Bitcoin slid by 10 percent on Friday after one of its lead developers, Mike Hearn, said in a blogpost that he was ending his involvement with the cryptocurrency and selling all of his remaining holdings because it had "failed".
Hearn, one of five senior developers who has spent more than five years working on the web-based currency, said he would no longer be taking part in development.
"Despite knowing that bitcoin could fail all along, the now inescapable conclusion that it has failed still saddens me greatly," Hearn said in his post on blog-publishing platform Medium.
Along with Gavin Andresen, who was chosen by bitcoin's elusive creator Satoshi Nakamoto as his successor when he stepped aside in 2011, Hearn has been locked for months in a battle with the other lead developers over whether the "blocks" in which bitcoin transactions are processed should be enlarged.
Each block currently has a capacity of one megabyte, which Hearn says is "an entirely artificial capacity cap", and allows a maximum of just three payments to be processed per second.
In August, Hearn and Andresen released a rival version of the current software, called Bitcoin XT, which would increase the block size to 8 megabytes, allowing up to 24 transactions to be processed every second. While that is still a fraction of the 20,000 or so that Visa can process, it would increase every year, so that bitcoin could continue to grow.
But the new software has not been adopted by the "mining" computers that secure the network, the majority of which are in China, according to Hearn.
Hearn says the bitcoin network is about to run out of capacity as the volume of transactions increases. And when that happens, the network will become unreliable, with payments unable to be processed and vulnerable to fraud.
"If an IT system runs out of capacity like that then all kinds of things go wrong - all hell breaks loose," he said in an interview with Reuters in late December.
Hearn reckons the bitcoin community has "failed" in its governance of the crytocurrency's code.
"What was meant to be a new, decentralised form of money that lacked 'systemically important institutions' and 'too big to fail' has become something even worse: a system completely controlled by just a handful of people," he wrote.
SUDDEN DEPARTURE
Just months ago, in August, Hearn told Reuters that whether or not Bitcoin XT was adopted, the crypocurrency would live on. "If we thought it might be the end of bitcoin, we wouldn't do it," he said then.
Bitcoin was trading at around $390 on the itBit exchange by 2000 GMT, down from $430 before Hearn's blog post was published.
In his December interview, Hearn said that when people realised that the bitcoin network was at breaking point, the price would fall.
"The current price of bitcoin is supported almost entirely by people speculating on its future, in the assumption that this could be the money of tomorrow," he said. "So if the network starts to collapse, then a lot of people are going to look at it and say: well maybe we've miscalculated (its) future value."
Hearn is now working for the R3CEV consortium of banks working on using the blockchain technology that underpins bitcoin in financial markets.
Stephan Tual, the former chief operating officer of blockchain firm Ethereum, who now works at blockchain-based app developer Slock.it, also reckons bitcoin's future looks shaky.
"Bitcoin is outdated technology - almost prehistoric by crypto standards," he said. "It's because of petty quarrels such as these that it hasn't been able to evolve in five years."
Others were more upbeat.
"I'm not ready to declare that Bitcoin has failed," wrote U.S. venture capitalist Fred Wilson.
"Sometimes it takes a crisis to get everyone in a room... So if we are going to have a crisis, let's get on with it. No better time than the present." (Reporting by Jemima Kelly; Editing by Ruth Pitchford) || How Blockchain Can Reform The Real Estate Industry: Bitcoin has gotten a bad reputation this year after several high profile hacking attacks and scams saw investors lose huge sums of money. The cryptocurrency has also been painted as a tool for criminals after dark web sites like Silk Road revealed illegal transactions using the currency. While the currency itself is unlikely to catch on as a mainstream form of payment in the coming year, many believe that blockchain, the ledger like technology that bitcoin runs on, could explode in 2016. Blockchain Applications Across The Board The potential for blockchain is wide reaching. The technology could benefit everyone from finance firms to the music industry by making transactions easier to follow and more difficult to forge. Several blockchain firms have emerged in order to help companies explore the possibility of using the technology within their industry. Blockchain For Real Estate One space that many believe could get a blockchain makeover in the coming year is real estate. Blockchain would make title transfers safer, faster and more efficient by automating the process and ensuring that legal battles over fraudulent titles were a thing of the past. At the moment, it is relatively easy for a criminal to create false title documents and transfer ownership of a property to themselves. The of fighting such crimes each year is around $1 billion, a sum that could be saved with a blockchain-run system. Better Price Comparison Using blockchain would also make comparing similar properties for house hunters. At the moment owners can keep lease prices private, making it difficult to find comparable sales figures. However, if all of that data was stored on blockchain, it would be easily searchable and available to both buyers and sellers. See more from Benzinga Not All Of Clinton's Policies Are Bad For Pharmaceuticals What's In Store For Apple In 2016 Google Is Developing A Messaging Service To Compete With Rivals © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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. || 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 || Bitcoin industry consolidates: Why Kraken bought Coinsetter: For the past two years, the most popular type of new bitcoin company has been exchanges, where investors can buy and trade bitcoin and other virtual currencies. Now two exchanges are already rolling up, in the first major bitcoin industry acquisition of 2016.
Kraken, which is based in San Francisco but sees most of its trading activity in Euros, has bought Coinsetter, a smaller New York-based exchange, for an undisclosed amount. Coinsetter will shut down on Jan. 26 and its customers will be converted to Kraken. According to data from TradeBlock, the average daily transaction volume on Kraken last year was around $1.3 million.
The deal comes amid a price collapse and high negativity around bitcoin's future. Mike Hearn, a prominent bitcoin developer, wrote a poston Mediumlast week announcing his opinion that the bitcoin "experiment" has failed. "I will no longer be taking part in bitcoin development and have sold all my coins," he wrote. "The network is on the brink of technical collapse. The mechanisms that should have prevented this outcome have broken down, and as a result there’s no longer much reason to think Bitcoin can actually be better than the existing financial system."
The core of Hearn's argument is that the speed of transactions has slown; a contentious issue in the bitcoin community right now is whether and when to raise the size limit on "blocks," the term for a bundle of bitcoin transactions. Every single transaction is recorded and processed as part of a block on the bitcoin blockchain, a public, decentralized ledger. If this all sounds like a foreign language to you, don't worry: All you need to understand is that the bad optics of a prominent bitcoin flag-waver leaving the industry in a huff was enough to send the price plummeting. After Hearn posted his piece on Jan. 14, the price of the digital currency fell from $430 down to a low of $358 two days later. It now hovers around $380, according to Winkdex.
Viewed in this context, consolidation in the industry may look troubling. But Coinsetter CEO Jaron Lukasiewicz isn't concerned. "I’m bullish on bitcoin right now and believe we’ll see the price hit four-digits again," he tells Yahoo Finance. Perhaps that's easy for him to say: Coinsetter will shut down, and Lukasiewicz is moving on, likely following Hearn to the exit. ("For my next venture I am focused on starting or leading a team whose products are improving society... I’m not tied to any particular industry beyond that," he says.) The sale comes less than a year after Coinsettermade its own acquisitionof the Canadian-based bitcoin exchange Cavirtex—a deal that likely helped make Coinsetter an acquisition target itself.Benefiting from volatility
Kraken CEO Jesse Powell is less starry-eyed about the industry right now. "I think the market has not grown as fast as everyone anticipated," he says. "And the price has gone in the opposite direction of what people hoped. I think we’ll continue to see market consolidation. When the price is going up, new people are coming in, more media is covering it, it’s good news all around. When the price is going down, the public perception is bad, and everyone says bitcoin is crashing. The price is important in that aspect."
For a long time, many bitcoin believers insisted that the price isn't important. As long as it is relatively stable, they reasoned, startups can keep innovating and building useful applications on top of the blockchain. But for bitcoin exchanges, price matters: Most make their money from transaction fees, so they do best when there’s either a lot of volatility, or the price is high. When the price is stableandlow, exchanges suffer.
Leaving New York
Kraken, founded in 2011, is like a foreign exchange for digital currencies. Its customers are mostly professional traders executing margin trades and other advanced orders. It is not a site where beginners would go to casually dip a toe into the bitcoin market. Coinsetter, founded in 2012, offers Kraken the chance to instantly expand its customer base in Canada (from Cavirtex) and the U.S.
Except in New York. Kraken was one of the companies tocut off service in the statelast summer after the New York Department of Financial Services released the final version of the BitLicense, a regulatory framework for digital currency companies in New York that holds customers' funds. Many bitcoin entrepreneurs complained the framework was too strict and limiting, so rather than play ball, they left.
Coinsetter didn't leave New York. But under new management, it will now. "We’re going to shut down New York again right after the acquisition," says Powell. "So the Coinsetter New York clients will be out of an exchange there, unfortunately. Coinsetter did put in a BitLicense application, but when you have a change of control, the application is void, so we won’t be serving New York and we have no plans to apply for a BitLicense in the future."
In a sense, Powell is simply sticking to his guns, just like Hearn—except that the latter believes bitcoin has already failed, while the former believes it risks failure if there is over-regulation. Indeed, apart from the debate over block size, the industry's bigger battle will be over regulation. Many in the business are anxiously waiting to see whether other states will follow New York's lead and create their own form of a BitLicense. And while some companies stayed in New York and applied for a BitLicense (at high cost: Lukasiewicz says Coinsetter spent $50,000 to apply for one), others stayed in New York but did not apply, and continue to operate in uncertainty.
That concerns Powell. "There’s still not really regulatory clarity, and the banks still aren’t getting on board. They’re all about the blockchain these days, but they’re still not giving bitcoin exchanges bank accounts. So there are huge challenges with getting new exchanges started." He's right about the blockchain being a buzzword for big financial institutions: Everyone from JPMorgan (JPM) to the Nasdaq have talked up their interest in the blockchain while distancing themselves from the cryptocurrency that fuels it.
For now, Kraken gets bigger. It can compete more with the leading exchanges like BitInstant, Bitstamp, Coinbase and itBit, as well as brand new exchange platforms launched last year, including Abra, Align Commerce, and Gemini, an exchange launched by Cameron and Tyler Winklevoss, of Facebook fame.
"The issue for everybody in bitcoin right now," Powell says, "is if you started out a few years ago, say, in 2011, you thought that five years from now, it’s going to be flying cars, bitcoin everywhere, fiat currency will cease to exist. Clearly that didn’t happen, and bitcoin isn’t $10,000 a coin. I think a lot of companies created a structure that depended on a high price of bitcoin. When the price went from $1,000 to $200, they could no longer afford to finance their operation."
If the price drops further, expect to see more consolidation. And with so many different exchanges out there, it's inevitable more will roll up.
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Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology.Read more:
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Why Apple, Uber are betting on Super Bowl sponsorship || Insight - In taking economic war to Islamic State, U.S. developing new tools: By Yeganeh Torbati and Brett Wolf WASHINGTON (Reuters) - Since last month, U.S. warplanes have struck Islamic State's oil infrastructure in Syria in a stepped-up campaign of economic warfare that the United States estimates has cut the group's black-market earnings from oil by about a third. In finding their targets, U.S. military planners have relied in part on an unconventional source of intelligence: access to banking records that provide insight into which refineries and oil pumps are generating cash for the extremist group, current and former officials say. The intent is to choke off the Islamic State's funding by tracking its remaining ties to the global financial system. By identifying money flowing to and from the group, U.S. officials have been able to get a glimpse into how its black-market economy operates, people with knowledge of the effort have said. That in turn has influenced decisions about targeting for air strikes in an effort that began before Islamic State's Nov. 13 attacks on Paris and has intensified since, they said. While Islamic State's access to formal banking has been restricted, it retains some ties that U.S. military and financial officials can use against it, the current and former officials said. "We have done a really good job of largely keeping the Islamic State out of the formal financial system," said Matthew Levitt, who served as deputy assistant secretary for intelligence at the U.S. Treasury in the George W. Bush administration. "But we haven't been entirely successful, and that may not be a bad thing." Reuters was unable to verify key aspects of the campaign, including when it started or exactly which facilities have been destroyed as a result. Two current officials who confirmed the operations in outline declined to comment on their details. It was unclear how U.S. intelligence, Treasury, and military officials working on what the government calls "counter threat finance" operations have used banking records to identify lucrative Islamic State oil-related targets in Syria and whether that involved local banks. A report this year by the intergovernmental Financial Action Task Force found there were more than 20 Syrian financial institutions with operations in Islamic State territory. In Iraq, Treasury has worked with government officials to cut off bank branches in the group's territory from the Iraqi and international financial systems. Gerald Roberts, section chief of the FBI's terrorist financing operations section, said that Islamic State's recruits from outside Syria often come with financial trails that officials tracking them can "exploit." "We are seeing them using traditional banking systems," he said at a banking conference last week in Washington, adding that young, tech-savvy Islamic State members are also familiar with virtual currencies such as Bitcoin. Islamic State, also known as IS, ISIS or ISIL, is sometimes forced to use commercial banks because the amounts involved are too large to move using other means, said Levitt. The U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) uses a set of "business rules" to screen the roughly 55,000 reports it receives daily from financial institutions for signs of activity involving Islamic State, a spokesman said. He declined to describe the rules, but law enforcement sources say names, IP addresses, email addresses, and phone numbers are among the data that intelligence authorities try to match. The matches allow FinCEN "to connect the dots between seemingly unrelated individuals and entities," the FinCEN spokesman said. At present, FinCEN finds about 1,200 matches suggesting possible Islamic State-linked financial activity each month, up from 800 in April, the spokesman said. Bank of America, JP Morgan and Wells Fargo declined to comment on whether they provided financial reports to the U.S. government. Such reports are supplied confidentially. Citigroup, HSBC, and Standard Chartered did not immediately respond to requests for comment. "TIDAL WAVE II" The use of financial records linked to Islamic State is only one part of the intelligence-gathering exercise for air strikes in Syria that also includes methods such as aerial surveillance by drones, officials said. One former military official familiar with the process said that any financial intelligence collected by FinCEN would require "significant vetting" before the military acted on it. Earlier this month, U.S.-led coalition planes struck 116 fuel trucks used to smuggle Islamic State oil 45 minutes after dropping leaflets warning drivers to flee, a Pentagon spokesman said. Coalition strikes destroyed another 283 Islamic State fuel trucks on Saturday, the Pentagon said. On Nov. 8, a coalition air strike destroyed three oil refineries in Syria near the border with Turkey. U.S. defence officials estimate that Islamic State, an adversary the United States calls the wealthiest terrorist group of its kind in history, was earning about $47 million per month from oil sales prior to October. That month, the U.S. military launched an intensified effort to go after oil infrastructure, dubbed "Tidal Wave II," named after the bombing campaign targeting Romanian oil fields in World War Two. The Pentagon estimates the strikes have reduced the Islamic State's income from oil sales by about 30 percent, one U.S. defence official with knowledge of the previously unreported estimate said. Reuters was unable to confirm this. The use of financial records in helping to pick U.S. targets was first disclosed last week at the banking conference in Washington. At the conference, Kurt Gredzinski, the Counter Threat Finance Team Chief at U.S. Special Operations Command, cited the importance of information provided by banks in the war against Islamic State. "That to me is the first time in my recollection that we strategically targeted based on threat finance information," he said at the conference. He declined to comment further on which strike he had been referring to. "RESILIENT FINANCIAL PORTFOLIO" U.S. officials believe that diminished funding could gradually undermine Islamic State's grip on the area it controls in Iraq and Syria, because it needs revenue to pay salaries and keep public infrastructure operating, said two former officials with knowledge of the Obama administration's thinking. Experts caution that Islamic State, which rules an area the size of Austria, has surprisingly deep pockets due to the various revenue streams it controls. It has built up what amounts to a "durable and resilient financial portfolio," funded by oil sales, extortion, and sales of antiquities, said Thomas Sanderson, an expert on terrorism at the Center for Strategic and International Studies. "Money can be strapped to the backs of mules," Sanderson said. "It's easy to move things across a border during a time of deprivation and chaos." Despite some initial success, cutting off its funding will require deeper cooperation from governments from Turkey to Russia, experts say. The group has shown the ability to bounce back from previous U.S. strikes on its oil facilities. Counter-terrorism experts say that Islamic State appears to have learned from U.S. successes in cracking down on funding for al-Qaeda, which relied heavily on support from wealthy donors in the Gulf region. "IS has learned that you don't want to be reliant on too many outside sources," said Sanderson. "Donors are fickle and subject to pressure and (IS) wants to be in control." (Reporting by Yeganeh Torbati in Washington and Brett Wolf of Thomson Reuters Regulatory Intelligence. Additional reporting by Joel Schectman, Warren Strobel, and Jonathan Landay in Washington.; Editing by Kevin Krolicki and Stuart Grudgings) || 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 || Anarchists love 2015's best performing asset: Gold is down nearly 10 percent, major U.S. stock indexes are roughly flat and energy commodities have nearly all fallen more than 30 percent: It's been a tough year for investors. And while individual stocks have seen big pops on headlines, perhaps the best performing non-equity asset of the year is a favorite among crypto-anarchists. Bitcoin (: BTC=) , the digital currency heralded as a potential successor to the global monetary system, is up about 37 percent against the U.S. dollar since the beginning of the year. The cryptocurrency went for about $313 at the beginning of the year, according to CoinDesk's composite price index, and is now changing hands at around $430. Those huge gains come after starting the year on rocky footing: Bitcoin dipped to below $175 in mid-January. But after a few false starts, the digital currency has been largely gaining ground since the beginning of October. (One of the few investment options with a comparable 2015 return is Argentina's benchmark Merval — up about 40 percent on the year. Although U.S. investors playing the Global X Argentina ETF would be disappointed by the fund's slight loss in 2015.) It's hard to say what's actually caused Bitcoin's rise during the last three months of 2015. In November, digital ecosystem observers told CNBC that a 70 percent one-month spike may have been caused in part by headlines like the Winklevoss twins launching their exchange and the Digital Currency Group announcing funding from Bain and MasterCard . Others suggested that the relatively lightly traded asset could have been jumping on speculators' fear of missing out (FOMO). For Brendan O'Connor, the CEO of bitcoin trading firm Genesis Global Trading, the year-end run up was the result of a series of positive trends for the asset. On the one hand, O'Connor said, funding announcements from bitcoin-related start-ups helped to establish the legitimacy of the sector — and its underlying technology. This has helped push institutional investors into making investments in both the digital token and the over-the-counter Bitcoin Investment Trust ( more on that ETF-like vehicle can be found here ). Story continues "They're looking for investments in non-correlated asset classes," O'Connor said, explaining that financial firms regularly come to his office to learn how to trade bitcoin. "I still think that by and large they're viewing it as a speculative investment, but I think that their willingness to test the waters has increased dramatically." Another important trend in the space has been the gradually increasing interest the technology — and it's negligible fee structure — for remittance payments and as a daily currency in monetarily challenged parts of the world, O'Connor said. That potential came to the forefront of the tech discussion during the summer's Greek crisis: When the country instituted capital controls in the face of increasingly dire eurozone negotiations, countless articles were written about bitcoin's potential for struggling citizens . It's unclear if those prophecies ever came to any real fruition, but investors in the space say the positive press coverage at least boosted awareness of bitcoin's potential. Finally, bitcoin may have simply benefited from the lack of any disastrous headlines. Many traders say the cryptocurrency has shed the pall of failed exchange Mt. Gox — which quickly shuttered in 2014 after saying it lost 850,000 bitcoins (worth about $365 million today). Bitcoin's fall from more than $1,150 near the end of 2013 to this January's $200 levels represented the asset's "long winter," according to economist Tuur Demeester, editor-in-chief of bitcoin-focused Adamant Research. The story of 2015, therefore, has been a bottoming out for the digital asset, and a climb to revaluation. Bitcoin's fall from its highs, Demeester said, was the result of "bubblicious" investing in 2013 (with some help from Mt. Gox). Pricing levels remained depressed for so long because companies had become over-leveraged, and so had been squeezed into heavy bitcoin selling, he said. As for 2016, Demeester suggested that the cryptocurrency could likely see another leg up as newly confident investors seek the right market valuation. "But," he said, "with bitcoin you have to expect to be surprised." More From CNBC Top News and Analysis Latest News Video Personal Finance || 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.
ALSO READ:Is Best Buy Making an Offer That Consumers Can't Refuse?
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.
ALSO READ:Jefferies Has 4 Blue Chip High-Dividend Franchise Picks to Buy Now
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 || Rocky Mountain Ayre, Inc., Releases HempCoin Audio Interview: DOVER, DE--(Marketwired - Nov 30, 2015) - Rocky Mountain Ayre, Inc., a holding company ( OTC PINK : RMTN ), has released an Internet link to an Audio Interview performed by one of its Directors, David Tobias. During the interview, David discusses the technical aspects and the future plans for RMTN's Crypto-Currency, HempCoin. The Audio-Interview can be heard at: http://smallcapvoice.com/blog/11-19-15-smallcapvoice-interview-with-rocky-mountain-ayre-inc-rmtn About HempCoin. HempCoin (HMP) runs on its own peer to peer blockchain like BitCoin (BTC) but at a faster rate because it is using the script technique like LiteCoin. So in addition to having the advantage of being able to move HMP around faster than BTC, HMP is backed by the marketable securities of RMTN. BTC is strictly a fiat currency like the US Dollar, however, BTC has the potential to go up in value against the Dollar because of supply and demand factors and HMP has this same built in advantage because unlike the Dollar, both BTC and HMP have a limited amount of coins in circulation, while the Dollar is ever increasing in supply. About Rocky Mountain, Inc. Rocky Mountain Ayre, Inc. ( www.rockymountainayre.com ) is a publicly traded company listed on the OTCmarkets under the "RMTN" trading symbol. It is a holding company increasing its asset and revenue base through acquisition of fast-growing food and hospitality, manufacturing and retail businesses. All inquiries should be directed to: info@rockymountainayre.com . Safe Harbor Statement This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.
[Random Sample of Social Media Buzz (last 60 days)]
$432.27 at 00:30 UTC [24h Range: $422.03 - $442.97 Volume: 12180 BTC] via #btcusdpic.twitter.com/1GVrW4S53g || #RDD / #BTC on the exchanges: Cryptsy: 0.00000004 Bittrex: 0.00000004 Average $1.7E-5 per #reddcoin 07:00:01 via #p…pic.twitter.com/lbTL1Tf2N4 || 1 #bitcoin 1352 TL, 446.229 $, 416.061 €, GBP, 31962.00 RUR, 53000 ¥, CNH, 623.00 CAD #btc || LIVE: Profit = $591.32 (6.28 %). BUY B23.08 @ $420.00 (#VirCurex). SELL @ $434.34 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || #RDD / #BTC on the exchanges: Cryptsy: 0.00000005 Bittrex: 0.00000006 Average $1.9E-5 per #reddcoin 09:00:01 via #p…pic.twitter.com/vddAaiKIuv || Current price: 377.39$ $BTCUSD $btc #bitcoin 2015-12-05 11:00:01 EST || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000004
Bittrex: 0.00000003
Average $1.1E-5 per #reddcoin
06:00:00 || 1 #BTC (#Bitcoin) quotes:
$391.09/$391.30 #Bitstamp
$387.00/$388.00 #BTCe
⇢$-4.30/$-3.09
$390.92/$391.87 #Coinbase
⇢$-0.38/$0.78 || $424.04 at 16:00 UTC [24h Range: $419.99 - $431.10 Volume: 5021 BTC] || In the last 10 mins, there were arb opps spanning 7 exchange pair(s), yielding profits ranging between $0.00 and $140.68 #bitcoin #btc
|
Trend: down || Prices: 410.26, 382.49, 387.49, 402.97, 391.73, 392.15, 394.97, 380.29, 379.47, 378.26
|
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 2021-03-18]
BTC Price: 57858.92, BTC RSI: 60.45
Gold Price: 1732.20, Gold RSI: 43.37
Oil Price: 60.00, Oil RSI: 44.44
[Random Sample of News (last 60 days)]
Why Crypto Veteran Charlie Lee Is Sounding Alarm Against NFT Craze: Litecoin(CRYPTO: LTC) creator Charlie Lee, is warning about the frenzy surrounding non-fungible tokens.
What Happened:Lee, a former engineer atAlphabet Inc(NASDAQ:GOOGL) (NASDAQ:GOOG) search unit Google, sounded the alarm on the parallels between the ICO rush of 2017 and the current NFT craze in a Twitter post on Tuesday.
The cryptocurrency veteran described NFTs as “Non-Finite Tokes” and pointed out that there is “zero cost to create [an] unlimited number of tokens.”
See also: Best Cryptocurrency Apps
In a separatetweet, he cited the example of Justin Roiland of “Rick and Morty” fame and his NFT artwork and questioned what’s stopping others such as “Simpsons” creator Matt Groening or animator Mike Judge from creating millions of new NFTs.
Lee also threw a challenge and asked to be proven wrong.
Leeclarifiedthat while digital artwork takes time and effort to create, NFT is not the artwork.
Why It Matters:NFTs are akin to digital certificates of authenticity and can be used for digital assets such as games or artworks.
NFTs have attracted several artists, with the latest being Grimes, the partner ofTesla Inc(NASDAQ:TSLA) chief Elon Musk, who sold digital artworks for nearly $6 million, reported the Verge.
See Also:Tesla Invests .5B In Bitcoin, Expects To Accept Crypto As Payment In The Future
Others that have jumped on the bandwagon reportedly include Beeple who sold $3.5 million worth of art last year and actress Lindsay Lohan.
Meme Nyan Cat and electronic musician 3LAU are some other notables that have profited from the trend.
Price Action:LTC traded 3.4% higher at $182.23 at press time, while the apex cryptocurrencyBitcoin(CRYPTO: BTC) traded 2.09% lower at $48,624.08.
See also: What is a Non-Fungible Token (NFT)?
Photo by Paul Sableman on Flickr
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Mastercard Joins Tesla, PayPal in Crypto Revolution: Payments giant Mastercard Incorporated ( MA ) announced Wednesday via a company blog that it plans to start supporting select cryptocurrencies directly on its network later this year. The decision comes three months after rival PayPal Holdings, Inc. ( PYPL ) said it would add select cryptocurrencies to its platform and several days after electric car maker Tesla, Inc. ( TSLA ) announced in an SEC filing that it has invested $1.5 billion into Bitcoin and plans to accept the pioneer crypto as payment. Although Mastercard did not disclose which digital currencies it will support, a source familiar with the matter told CoinDesk that digital currency payments would settle in cryptocurrency at participating merchants. Mastercard already has existing partnerships with prominent crypto payment firms Wirex and BitPay but currently requires a conversion of digital currency payments back to fiat currencies on its network. “Our change to supporting digital assets directly will allow many more merchants to accept crypto — an ability that’s currently limited by proprietary methods unique to each digital asset. This change will also cut out inefficiencies, letting both consumers and merchants avoid having to convert back and forth between crypto and traditional to make purchases,” wrote Raj Dhamodharan, the company’s executive vice president of digital asset and blockchain products. Through Wednesday’s close, Mastercard stock has a market capitalization of $332 billion, issues a modest 0.53% dividend yield, and trades 6.37% lower since the start of the year. Wall Street View Last month, Jefferies analyst Trevor Williams upgraded the stock to ‘Buy’ from ‘Hold’ and raised the firm’s price target to $415 from $315. Williams argues that the company’s cross-border payments division, which accounts for around 25% of total revenues, sits well-positioned to benefit from a recovery in travel after the vaccine rollout. Mastercard also racks up positive coverage elsewhere on Wall Street. It receives 29 ‘Buy’ ratings, 4 ‘Overweight’ ratings, and 9 ‘Hold’ ratings. Currently, no analysts recommend selling the shares. Look for further brokerage research in the weeks ahead after the company’s latest pledge to brining digital currencies to its platform. Story continues Technical Outlook and Trading Tactics Mastercard shares have formed a short-term inverse head and shoulders over the past two months, with the pattern’s head finding a confluence of support from the 200-day simple moving average (SMA) and a horizontal trendline. Furthermore, the relative strength index (RSI) sits just above 50, giving the price ample room to test higher prices before consolidating. Those who buy here should consider setting a take-profit order near the stock’s all-time high (ATH) at $367.25 while managing risk with a stop placed beneath the pattern’s right shoulder at $330. For a look at today’s earnings schedule, check out our earnings calendar . This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Futures (GC) Technical Analysis – Strengthens Over $1842.90, Weakens Under $1831.80 NZD/USD Forex Technical Analysis – Strengthens Over .7232, Weakens Under .7206 Oil Traders Pull Back amid Profit-Taking Silver Takes the Gold in our Outrageous Predictions Vote USD/JPY Forex Technical Analysis – May Try to Build Support Base Inside 104.548 – 104.260 Retracement Zone U.S. Dollar Index (DX) Futures Technical Analysis – Testing Main Retracement Zone at 90.385 to 90.100 || Inflation Takes Over From COVID as Biggest Market Risk: Bank of America: In a sign of just how dramatically the coronavirus vaccine has altered the market calculus on Wall Street, the fear of soaring inflation has displaced the pandemic as fund managers’ biggest worry, according to the latest monthly survey by Bank of America.
And betting on abitcoinrally remains one of the hottest trades.
According to the survey, higher-than-expected inflation is now seen as the biggest “tail risk” – an event that’s seen as statistically unlikely but with potentially dramatic consequences. The coronavirus slipped from the No. 1 concern for the first time since February 2020.
Related:Bitcoin Could Hit $115K by August, Pantera's Morehead Writes
“This implies that global fund managers think vaccination will finally lead us to re-opening and that the extremely loose monetary policy in times of economic recovery is not without risk,” Jeroen Blokland, portfolio manager for the Robeco Multi-Asset funds,notedin a daily analysis.
Concerns about rising inflation could boost hedging demand for the store of value assets such as bitcoin and gold, although recently investors have started to wonder whether the Federal Reserve might unwind stimulus as the economy reheats. That might set up the cryptocurrency’s price for a fall because the 12-year-old digital asset is still seen as a risky investment, similar to stocks.
However, the survey shows “long bitcoin,” or a bullish bet on the cryptocurrency, is the second-most crowded trade in the financial market. A crowded trade is one that is extremely popular, but also so widely held that a market pullback could trigger a violent unwind as traders scramble to exit positions.
• Inflation Takes Over From COVID as Biggest Market Risk: Bank of America
• Inflation Takes Over From COVID as Biggest Market Risk: Bank of America
• Inflation Takes Over From COVID as Biggest Market Risk: Bank of America || How Bitcoiners Should Watch the US Federal Reserve Meeting on Wednesday: It’s the debate the Federal Reserve isn’t ready to have yet: how to keep inflation from spiraling out of control once the economy opens back up.
Considering the devastating toll from the coronavirus and the trillions of dollars of stimulus pumped into the financial system over the past year, top economists say the looming transition could present one of the more challenging episodes in the U.S. central bank’s 108-year history – while providing a crucial test ofbitcoin’s use as a possible inflation hedge.
Economists are watching Fed Chair Jerome Powell’s remarks on Wednesday when he’ll sum up the January meeting of the Federal Open Market Committee (FOMC). Powell’s comments will primarily address the short-term economic outlook but may contain hints for how the central bank plans to approach the medium to long term.
Related:Bitcoin Briefly Dips Below $30K, Dollar Bounces Ahead of Fed Reserve Rate Announcement
In recent weeks regional Fed presidentshave raised the questionof whether the Fed will dial back or continue with a quantitative easing program of purchasing $80 billion per month of Treasurys and $40 billion per month of mortgage-backed securities. This program will likely remain unchanged until consumers start spending again in a COVID-free world, economists say.
“If you look at breakevens or any kind of market indicator or even consensus forecasts from economists, none of them show above 2% inflation during the next five years,” said David Beckworth, a former international economist at the U.S. Department of the Treasury. “As the vaccine rolls out, all of this pent-up money savings is going to be spent. It’s going to be a roaring-hot economy. Will the Fed nip it in the bud?”
No one expects the Federal Reserve to act in terms of rates or asset purchases this week, said former Federal Reserve economist Claudia Sahm, but investors will be looking for an updated message from Powell.
Sahm expects Powell to reiterate what Vice Chair Richard Clarida said earlier in January aboutthe Fed likely not raising rates until it sees 2% inflation for a year.
Related:The Relationship Between US Government Debt and Bitcoin, Explained
“The Fed has never held back on interest rates with inflation running at 2% for a year,” Sahm said. “We haven’t seen 2% inflation on any kind of a sustained basis since before 2008, but it’s important for them to say this because we’re going to see inflation that is higher than it is right now.”
Beckworth said he is hoping to see similar guidance around asset purchases.
Powell will likely offer a “steady as she goes” view of the Fed’s operations, said Harvard economist Ken Rogoff. He wants to not “draw attention” to the Fed, Rogoff added.
More tempered inflation estimates are likely to deflate enthusiasm among bitcoin backers, but crypto investors may see the Fed change its mind later this year.
Currently, the FOMC projects steady monetary policy but steady expectations have changed in the past, said Lawrence White, an economics professor at George Mason University in Fairfax, Va.
“People are sitting on huge piles of money relative to their income, much higher than they usually hold,” White said. “We could see something above 2% until the Fed changes monetary policy … if [Powell] begins to see signs of inflation he may feel more justified in tightening monetary policy.”
Just because inflation is low in the U.S., however, doesn’t mean that bitcoin doesn’t have an opportunity to prove itself as a hedge against inflation, White said.
“It’s not just U.S. inflation that people move into bitcoin to avoid,” White said. “There are bullish markets for bitcoin in Venezuela and Lebanon and Argentina – places with really high inflation. … I don’t think the market for bitcoin shows any close relationship to month-to-month U.S. inflation figures. So people who are holding it as an inflation hedge are thinking longer term than that.”
Other narratives that drive the value of bitcoin include dissidents looking for payments that are difficult to censor, White said. Most recently,bitcoin donations to Russian President Vladimir Putin’s main opponent, Alexey Nalvany,increased by 3.7 BTC.
“That’s helped me understand why there’s a niche demand for bitcoin as a medium of exchange,” White said. “It’s not just buying it in hopes of some bigger fool in the future buying it from me.”
Barring any large contractions in the economy, the Fed has already signaled it doesn’t plan to increase asset purchases in the future.
That’s why the FOMC will also be focused on the effectiveness of the vaccine rollout versus the spread of new COVID-19 variants, Sahm said, and watching to see that an uncontrolled outbreak doesn’t create fear for spenders. Mass layoffs and declines in spending in March 2020 occurred in places with and without strict lockdowns – largely because Americans were generally scared of going out in public, Sahm said.
“We could have a positive spiral take hold this spring and this summer but it’s not guaranteed,” Sahm said. “The expectations of people, consumers build on the small business side. Those are really important for behavior, and they’re not always driven by clear-cut economic events. … There are virus fears that differ across the country and differ by political affiliation.”
The central bank will be trying to watch for when spending will come back in full force, and how quickly the economy may return to full employment.
“The Fed has been expanding the monetary base at a rapid rate for a year now,” White said. “M1 [money supply] has grown 72% over the last 12 months and M2 has grown 27% and we haven’t seen the kind of inflation you would normally get from that.” (M1 includes very liquid monies such as cash, demand deposits, and traveler’s checks; M2 includes less-liquid funds such as savings, certificates of deposit and money-market funds.)
All else being equal, an increase in M1 would produce inflation of 72%, White added, but this number means little on its own. Because the world is not spending more during the pandemic-induced recession, it’s doubtfulthe economy will see an outbreak of double-digit inflation.
When people begin to travel and eat in restaurants regularly again, the Fed may “have to dial back on the money supply” to avoid inflation well above 2%, White said.
As the Fed props up financial markets while 10 million Americans are out of work, inequality will increase. Running the economy hot may be Powell’s best solution for trying to help the U.S. recover, Beckworth said.
Meanwhile, low interest rates have investors searching for yield and running to every asset that has high returns.
“It drives up art, it drives up cryptocurrencies, it drives up gold, it drives up everything,” Rogoff said. “Whether or not you think it’s a bubble goes around how likely you think real interest rates will go up.”
• How Bitcoiners Should Watch the US Federal Reserve Meeting on Wednesday
• How Bitcoiners Should Watch the US Federal Reserve Meeting on Wednesday || FOREX-Dollar weakens as market optimism lifts riskier currencies: * Graphic: World FX rates https://tmsnrt.rs/2RBWI5E(Updates prices, adds dollar positioning data) By Iain Withers LONDON, Feb 15 (Reuters) - The U.S. dollar held neartwo-week lows on Monday, as optimism about COVID-19 vaccinerollouts and a planned $1.9 trillion U.S. stimulus packageoffered a boost to riskier currencies, stock markets andcommodity prices. Among the gainers versus the weaker dollar, the Britishpound broke $1.39 for the first time in nearly three years, helped by expectations that the success of the UK'sCOVID-19 vaccination programme could enable the economy to openup and rebound. The offshore-traded Chinese yuan continued its recent riseand was on the cusp of breaking above 6.39 per dollar for thefirst time since June 2018. Commodity currencies strengthened too, with the SouthAfrican rand touching a one-year high. TheNorwegian crown and the Australian dollar reached their highestlevels in three weeks against the greenback . Many financial markets in Asia remained closed on Monday forLunar New Year, and U.S. stock markets were shut for PresidentsDay. The dollar index slipped 0.1%, to close to lastweek's low of 90.249 - a level unseen since Jan. 27. Analysts at MUFG said the dollar could weaken further ifmarket optimism held. "We believe there is plenty yet to go in the so-called'reflation trade' with market participants under-estimating thewillingness of global policymakers to let the economy run hotand fuel stronger-than-expected global growth through theremainder of the year," the analysts said in a note. Speculators maintained their short dollar positions, latestdata from the U.S. Commodity Futures Trading Commission showed,with net short value standing at $29.53 billion. The Japanese yen, viewed as a safe-haven asset, slipped 0.4%against the greenback to 105.27 yen, The euro edged 0.1% higher to $1.21310, extendinglast week's 0.6% advance. Bitcoin remained volatile, retreating to as lowas $45,914.75 a day after reaching a record high $49,714.66. The world's most popular cryptocurrency rallied 25% lastweek, boosted by endorsements from Tesla and BNY Mellon. (Reporting by Iain Withers, additional reporting by Sujata Rao;editing by Kirsten Donovan, Larry King and Susan Fenton) || Powell says economy still needs Fed support, pushes back on inflation worries: By Howard Schneider and Ann Saphir
WASHINGTON (Reuters) - Federal Reserve Chair Jerome Powell, pushing back on suggestions that loose monetary policy risked unleashing inflation and financial risks in what may be an emerging economic boom, said the central bank would keep its attention focused on getting Americans back to work as a vaccine-related recovery proceeds.
"Monetary policy is accommodative and it continues to need to be accommodative ... Expect us to move carefully, patiently, and with a lot of advance warning," before any changes, Powell said in response to questions from Republican lawmakers about whether a faster-than-expected recovery still required crisis-level assistance.
Powell, who was testifying before the U.S. Senate Banking Committee, acknowledged the potentially fast growth to come as the coronavirus crisis eases and vaccinations expand. Coming updates to the Fed's outlook may show the economy expanding "in the range" of 6% this year, he said, and overall output conceivably returning in the next few weeks to the pre-pandemic level.
Such a rebound would have been unthinkable even a few weeks ago, but the rollout of COVID-19 vaccines coupled with federal fiscal support that has bolstered household income has boosted the economic outlook for the year.
When asked what his message was to financial markets, Powell did not talk about the risks of rising bond yields or a possible spike in inflation, but of the roughly 10 million jobs still missing compared to a year ago, and the need for the U.S. central bank's policy to stay wide open until that is fixed.
Interest rates will remain low and the Fed's $120 billion in monthly bond purchases will continue "at least at the current pace until we make substantial further progress towards our goals ... which we have not really been making," Powell said in the hearing, his first since Democrats won the White House and control of both chambers of Congress.
There was little market reaction to Powell's remarks, though a recent sharp rise in Treasury bond yields, linked partly to concerns that inflation might surge and the Fed might tighten monetary policy sooner than expected, was largely curbed.
"Powell presumably wants to try to persuade markets that a strengthening economy does not necessarily mean that rates have to rise. Good luck with that when the post-COVID surge in activity becomes clear," said Ian Shepherdson, chief economist at Pantheon Macroeconomics.
'WARNING SIGNS'
Some Republican senators expressed concerns the combination of Fed asset purchases, a potential vaccine-driven economic boom, and passage of another massive stimulus package may drive asset prices to unsustainable levels and spark inflation.
"Be it GameStop, Bitcoin, real estate, commodities, we are seeing quite elevated asset prices and signs of inflation," said Republican Senator Pat Toomey, who is among those arguing that the Biden administration's proposed $1.9 trillion spending plan should be tailored.
"There are a lot of warning signs that are blinking yellow," Toomey said, referring to the recent run-up and crash of video-game retailer GameStop Corp's stock and sharp moves in the value of the Bitcoin cryptocurrency.
Powell, however, said the focus needed to remain on an economic recovery that is "uneven and far from complete," and which would need the central bank's help for "some time" to get back to full employment.
The Fed's interest rate cuts and monthly bond purchases "have materially eased financial conditions and are providing substantial support to the economy," Powell said in his opening remarks to the committee.
"The economy is a long way from our employment and inflation goals, and it is likely to take some time for substantial further progress to be achieved," the hurdle the Fed has set for discussing when it might be appropriate to pare back support.
Even with Americans being vaccinated at a rate of more than 1.5 million a day and coronavirus caseloads dropping, Powell and his fellow Fed policymakers are focused on the nearly 10 million jobs missing from the economy compared to a year ago, and the potent risks still posed by the virus, which has killed more than half a million people in the United States.
While the health crisis is improving and "ongoing vaccinations offer hope for a return to more normal conditions later this year," Powell said, "the path of the economy continues to depend significantly on the course of the virus and the measures taken to control its spread."
Powell will testify before the U.S. House of Representatives Financial Services Committee on Wednesday as part of his mandated twice-a-year appearances on Capitol Hill to provide an update on the economy.
(Reporting by Howard Schneider; Editing by Paul Simao) || Square: TIDAL Acquisition a Smart, Forward Thinking Move, Says Analyst: Square ( SQ ) is eying up opportunity in the struggling music biz. Last week, the digital payments specialist announced it is acquiring a majority ownership stake in TIDAL. The Jay-Z owned music-streaming company will cost Square $297 million, in a mix of cash and stock. Since the hip-hop star and entrepreneur took Tidal under his wing in 2015, the Spotify competitor has failed to gain traction, and the Streets reaction to the news was decidedly lukewarm. However, Mizuho analyst Dan Dolev has an upbeat take on the new addition to the fintech stars arsenal of services. We believe that acquiring a majority ownership stake in Jay-Z's TIDAL platform is an excellent fit for SQ, Dolev said. It expands the ecosystem, provides new creativity around Bitcoin uses, boosts engagement and increases Cash App's buzz. Not to mention, there is also a growing convergence between Bitcoin or more specifically, blockchain and art. The recent craze for NFTs (non-fungible tokens) a digital certificate represented by a unique token as proof of ownership of art/IP/or anything that could be tokenized - could open up new commercial possibilities for artists. For example, the Kings of Leon new album will also be released as a limited edition NFT, and some works of art have been selling for massive amounts. Square was quick to recognize the potential of Bitcoin, and a big part of its success has been down to the close relationship between the Cash App and the leading cryptocurrency. Dolev thinks Square could once again be at the forefront of a new paradigm. SQ is positioning the acquisition as a path for economic empowerment to musicians. But we believe SQ thinks bigger and longer-term, expanding social commerce capabilities and seeing the potential as a first mover in the beleaguered post-COVID music industry as it searches for a new direction, the analyst summed up. All in all, Dolev rates SQ shares a Buy, along with a $380 price target. The implication for investors? Upside of 57%. (To watch Dolevs track record, click here ) Story continues While not quite as exuberant as Dolevs forecast, the Streets $276.71 average price target suggests gains of 28% could be in the cards over the coming months. The analyst consensus rates Square stock a Moderate Buy, based on 19 Buys, 11 Holds and 2 Sells. ( See SQ stock analysis on TipRanks ) To find good ideas for stocks trading at attractive valuations, visit TipRanks Best Stocks to Buy , a newly launched tool that unites all of TipRanks equity insights. Disclaimer : The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment. || MicroStrategy Bets Another $1B on Bitcoin: MicroStrategy announced the purchase of another $1.026 billion in bitcoin Wednesday, turning mountains of zero-interest debt into one of the single largest (dollar-denominated) bitcoin investments ever executed by a publicly traded company.
CEO Michael Saylor’s business intelligence firmbought the 19,452 BTCat an average price of $52,765 per coin. It now holds 90,531BTCworth $4.78 billion at press time, almost certainly bolstering its perception among Wall Street types as a de-facto bitcoin exchange-traded fund, albeit onewildly overpriced.
The latest buy, MicroStrategy’s single-largest dollar investment in the crypto, is second only to Tesla’s $1.5 billion investment on the list of (known) bitcoin allocations by a U.S. company. MicroStrategy was already and will likely remain the non-crypto firm with the biggest bitcoin bags as CEO Michael Saylor continues to pursue a coin acquisition strategy now codified in the business intelligence company’s mission.
Related:BitcoinPaperWallet ‘Back Door’ Responsible for Missing Funds, Research Suggests
Led by Saylor’s increasingly absurd bitcoin evangelism (the longtime tech CEO now reframes famous cultural and historical quotes through crypto-colored lenses) MicroStrategy has become the chief proponent of corporate investments in bitcoin.
Saylor has fully steeped himself in bitcoin’s swirling meme culture. He added laser eyes to his Twitter profile in apparent unity with the #LaserRayUntil100K movement last week. On occasion he trolls gold as an inferior reserve asset. He has shown a penchant for Lord of The Rings content, liking memes in praise of the “One Coin to Rule Them All” andretweetingvideos in which he is Gandalf, leading theRohirriminto battle against evil, evil fiat.
The CEO is certainly angling to rally his corporate brethren under the Bitcoin Standard; he’s doing so with some success. Just days before Tesla poured $1.5 billion into bitcoin, a CoinDesk reporter spotted the senior director of corporate treasury for fellow Elon Musk enterprise SpaceX on the attendee list of MicroStrategy’s bitcoin-heavy annual conference. Musk and Saylor had previously plodded through bitcoin topics onTwitter.
Indeed, the company reimagined its annual clientconferenceearlier this month into a corporate bitcoin hype fest complete with a stream of crypto services providers ready to sign companies on as bitcoiners-to-be. For its part, MicroStrategy has gone with Coinbase.
Related:Outage at the Fed Delays Bank Wire Transfers, Affecting Crypto Exchanges
MicroStrategy’s practice ofissuing zero-coupon convertiblesas a cash-raising mechanism is in line with that strategy. Investors in this latest round of convertible senior notes have been promised a 50% premium on MicroStrategy’s Feb. 16, 2021, share price of $955.
• MicroStrategy Bets Another $1B on Bitcoin
• MicroStrategy Bets Another $1B on Bitcoin || Meet Nikolai Udianskiy: The CEO Of the Marketing Agency PRMR And Founder Of Bitcoin Ultimatum Who Is Improving The Cryptocurrency Market: NEW YORK, NY / ACCESSWIRE / March 2, 2021 /Our world is constantly changing. The way we do business or make money has changed a lot in the last decade. We used to keep money in a bank, but today some of us use cryptocurrencies such as bitcoin. These are not materialized in paper or credit cards; this is money in virtual wallets protected by a blockchain or database. They are still currencies but digital.
Although the use of cryptocurrencies is increasing, not everyone understands how to use them. This is a potential danger for people interested in using crypto who may get wrong advice. Thus, it is important to follow experts likeNikolai Udianskiy, who has been involved in cryptocurrency projects for more than seven years and is working on the launch ofBitcoin Ultimatum, a bitcoin fork that will improve the market.
"I participated in the creation and launch of 5 of the top 50 cryptocurrency exchanges, including Coinsbit - in just two years, this exchange entered the Top 10 in the world and attracted more than a million users." Nikolai shares.
One of the advantages of this type of currency is that they are global since they are not regulated by any type of governmental organization, such as the State, banks, financial institutions, or companies. This gives the possibility of being able to use them anywhere in the world.
Thanks to the work of people likeNikolai, who is an expert in the field and is constantly working to improve the industry, people can engage in this market and find another way to manage their finances and achieve their goals.
"At the moment, I am closely involved in theBitcoin Ultimatumproject. It is a new generation blockchain based on bitcoin core, but unlike BTC it is fast, has the ability to run smart contracts and works on the Proof-of-Stake algorithm." Nikolai says. "I believe that Bitcoin was really wonderful and innovative for its time, but today, this product urgently needs a renewal. It is slow, its coins are mined in an un-ecological and outdated way: mining on computers that consume the planet's resources. We decided to take the idea of bitcoin as a base and added all the features of the second most popular cryptocurrency, Ethereum. Thus, we obtained an almost perfect hybrid, to which we initially put the best features that neither BTC nor ETH have."
Nikolai is also the founder of EVO Country Club, a kind of Silicon Valley for IT specialists, and the CEO of a marketing agency,PRMR.com,which specializes in promoting cryptocurrency projects.
Before starting his crypto businesses, Nikolai first got motivated to get in the industry after hearing from many of his acquaintances who were starting to get involved in blockchain and crypto.
"In 2014, I started to seriously study programming, and in 2015, we started selling our software products. I usually play the role of creator, designer of the product, and my technical partners implement it." Nikolai adds.
Nikolaiis not just focused on managing and innovating the world of cryptocurrency, he also works to promote the industry overall. His companyPRMR, an international high-quality marketing agency, focuses on developing individual strategies necessary for the development of international start-up projects.
"We offer a full range of integrated marketing services to meet the individual needs of clients. The client comes looking for results, and we give them exactly that: a result that often exceeds what they expected. Nowadays, your image and the rate of mentions and trust in your social networks decide the question of your success. We offer a wide range of brand promotion, marketing and event services. In our media network there are more than a hundred direct contacts with relevant media, and SMM specialists will help to maintain active feedback with the target audience through social networks and digital platforms." Nikolai explains.
Find out more about Nikolai and his projectshere.
CONTACT:Paula Henderson561-768-4444phendersonnews@gmail.com
About VIP Media Group:VIP Media Group is a hybrid PR agency. Their diverse client base includes top-class entrepreneurs, public figures, influencers, and celebrities.
SOURCE:PRMR
View source version on accesswire.com:https://www.accesswire.com/633105/Meet-Nikolai-Udianskiy-The-CEO-Of-the-Marketing-Agency-PRMR-And-Founder-Of-Bitcoin-Ultimatum-Who-Is-Improving-The-Cryptocurrency-Market || DigiMax Launches CryptoDivine.ai: CRYPTO PRICE-TREND PREDICTOR AVAILABLE BY SUBSCRIPTION
TORONTO, ON / ACCESSWIRE / February 24, 2021 / DigiCrypts Blockchain Solutions Inc. o/a DIGIMAX GLOBAL SOLUTIONS(the "Company" or "DigiMax")(CSE:DIGI)is pleased to announce that its Crypto Price-Trend Indicator App, being launched under the brand nameCryptoDivine.ai, is now available for public use.
As of today, CryptoDivine.ai is available for access through the websitewww.CryptoDivine.ai.
CryptoDivine.ai has several functions that assist both novice and experienced crypto traders that include:
• 8 proprietary technical trading indicators
• A DigiMax proprietary Crypto Price-Trend Indicator for each cryptocurrency we analyse, continuously updated and trained on our machine learning "Ticker Regime" platform.
• Ability to choose Bitcoin or Ethereum
• Ability to toggle between hourly or daily indicators
• 24/7 functionality
• Ability to toggle between different information screens
• 24/7 Email notification of change indications
During the next 90 days, DigiMax expects to add several other functions and improvements to the application.
The application is available for subscription immediately for US$29.95 per month, with a 7-day free trial. The subscription can be easily canceled and renewed inside the App at any time at the push of a button, and billing will not recur the following month. Effective June 1, the subscription price is expected to increase to $99.95 per month with price breaks for 6-month and 12-month subscribers.
Please note, this is a predictive indicator application and NOT a trading platform. DigiMax can help you find an appropriate trading platform, but this App does not perform direct trades.
About DigiMax
DigiMax is based in Toronto and is the first Company in the Digital Security space to be both publicly listed (listed on the Canadian Securities Exchange-symbol: DIGI) and own a registered Dealer. Canada, DigiMax Capital Corp is an Exempt Market Dealer registered in Ontario.
The Company has a highly qualified management team with extensive experience in global financial and capital markets, combined with a rapidly expanding global presence through collaborative partnerships in the USA, Hong Kong, Indonesia, Malaysia, England, Singapore, Korea, and Malta.
Contacts DigiMax:
Martti KangasInvestor Communications647-521-9261mkangas@digimax-global.com
Chris CarlPresident & CEO416-312-9698ccarl@digimax-global.com
Cautionary Note Regarding Forward-looking Statements
NEITHER THE CANADIAN SECURITIES EXCHANGE, NOR THEIR REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
This press release contains "forward-looking statements." Forward-looking statements can be identified by words such as: anticipate, intend, plan, goal, seek, believe, project, estimate, expect, strategy, future, likely, may, should, will and similar references to future periods. Examples of forward-looking statements in this press release include, among others, statements we make regarding the Company closing one or more additional tranches of the Offering.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: the completion and timing of the Offering, CSE approval of the Offering, the adequacy of our cash flow and earnings, the availability of future financing and/or credit, and other conditions which may affect our ability to expand the App Platform described herein, the level of demand and financial performance of the cryptocurrency industry, developments and changes in laws and regulations, including increased regulation of the cryptocurrency industry through legislative action and revised rules and standards applied by the Canadian Securities Administrators, Ontario Securities Commission, and/or other similar regulatory bodies in other jurisdictions, disruptions to our technology network including computer systems, software and cloud data, or other disruptions of our operating systems, structures or equipment,as well as those risk factors discussed or referred to in disclosure documents filed by the Company with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com.
Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
SOURCE:DigiMax Global Solutions
View source version on accesswire.com:https://www.accesswire.com/631871/DigiMax-Launches-CryptoDivineai
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 58346.65, 58313.64, 57523.42, 54529.14, 54738.95, 52774.27, 51704.16, 55137.31, 55973.51, 55950.75
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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)]
China’s Crackdown Leads to WeChat, AliPay Blocking Crypto Transactions: In support of the Chinese government’s tightening clampdowns on local crypto-industry, a mobile payment giant has decided to bar virtual currency transactions on its platform.
WeChat Pay on Friday issued a statement stating that they would prohibit users from sending or receiving funds related to cryptocurrencies on its social media platform. The Tencent-backed firm cleared that their firm does not tolerate any activity that endorses or financially support the virtual currency-related fundraisers. Furthermore, Tencent has established a risk control model that monitors and reports virtual currency transactions to concerned authorities.
WeChat Pay recently tipped the Chinese regulators about some public accounts that were involved in the promotion and moderation of ongoing Initial Coin Offering projects, Tencent spokeswoman told state media. In response, the China NationalFintechRisk Rectification Office had permanently banned these accounts.
“Tencent appeals to its users that they understand the investment risks commonly associated with ICO and virtual currency trading platforms,” the company wrote in itspress issue. “We expect to firmly establish a risk prevention awareness, and actively cooperate with the government to maintain financial order and social stability.”
Before WePay, another mobile payment giant AliPay had announced that it would strengthen its supervision on its Over-the-Counter service, fearing it would be used to conduct virtual currency deals, mainly in Bitcoin. The company, like WeChat, is taking steps to block accounts that are found to be breaking the Chinese Bitcoin law.
“We will resolutely refuse services to merchants involved in virtual currency transactions. Based on the circumstances, we would either impose restrictions on account collection functions or even permanently limit collections,” AliPay hadtoldthe Chinese media.
China in 2017 had imposed a nationwide ban on the commercial use of virtual currency while highlighting their tough stance against foreign exchanges and ICO projects. However, despite the prohibition, Chinese investors continued to flock towards cryptocurrency sector as a mean to bypass capital control, to simplify money outflows. It somewhat has rattled regulatory bodies that are now resorting to a systematic crackdown, instead.
As a part of their enforcement, the government internet has banned internet access to leading cryptocurrency exchanges, such as Binance, Huobi, and BitFinex, and online crypto media outlets. Moreover, just last week, regulators in China’s Chaoyang Districtdisallowed hotels, shopping malls, and office buildingsto host events that promote crypto assets. Binance, which was scheduled to host an event in Beijing on Friday, canceled it at the very last moment.
Since last September, Chinese authorities have shut down a total of 88 cryptocurrency exchanges and 85 ICO projects. The yuan-bitcoin trading pair, which once peaked up to 90 percent of all the Bitcoin trades, has now dropped to less than 5 percent.
Featured image from Shutterstock.
The postChina’s Crackdown Leads to WeChat, AliPay Blocking Crypto Transactionsappeared first onCCN. || Bitcoin Lobbyist, ‘Dr. Doom’ to Square Off Next Week in Senate Blockchain Hearing: The U.S. senate Committee on Banking, Housing, and Urban Affairs issetto have a full committee hearing on Oct. 11 entitled “Exploring the Cryptocurrency and blockchain Ecosystem.”
At the upcoming hearing, the two witnesses currently scheduled are Coin Center Director of Research Peter Van Valkenburgh, and New York University Professor Nouriel Roubini.
Roubini, a noted economist, iswell-known for his disdain towards cryptocurrencyand blockchain, and for the often colorful manner by which he expresses his opinions.
Roubini currently serves as a professor at New York University’s Stern School of Business.
He gained the moniker of “Dr. Doom”while predictingthe 2008 financial crisis before it started. He is now one of the globe’s most respected economists.
He has long been an adamant basher of bitcoin, remarking in November of last year that the popular cryptocurrency isnot a good wayto store capital or a serious payment method.
Dr. Doomadded to his pessimismabout the virtual currency in May, remarking that “there is no decentralization, it’s just bulls–t” at the yearly Milken Institute conference.
He also launched an assault on blockchain technology, referring it to nothing more than a “glorified Excel spreadsheet.” Roubini remained resolute in his beliefs even after being challenged by other members of a cryptocurrency panel during the conference.
In July, Roubini maintained bitcoinwas not a currencysince it is not a stable store of value, a unit of account, nor a means of payment.
Roubini, who haspreviously calledbitcoin enthusiasts “Hodl nuts” and “cyber terrorists,” has also not been shy about sharing thoughts on smart contracts.
In June, he tweeted out that smart contracts are “not contracts as no court can enforce them,” writing that “the only courts in crypto land are the crypto developers’ kangaroo courts.”
Many fired back against Roubini’s comments, but bitcoin developer Jimmy Song made a remark that actually seemed to paint him as more of an ally towards Roubini’s position.
According to Song:
“The dirty secret of smart contracts is that they’re of very limited usefulness and extremely hard to secure. More limitation is required here, not more ways to screw up. The hype and the engineering reality are extremely divergent.”
Notably, a hearing by the Committee in February concerning digital currencies featuredcommentsby SEC Chairman Jay Clayton. At the time, Clayton remarked on how he might ask for additional crypto-related legislation down the road. Aside from Clayton, U.S. Commodity Futures Trading Commission Chairman J. Christopher Giancarloalso gave his remarksas a congressional witness.
Featured Image from Shutterstock
The postBitcoin Lobbyist, ‘Dr. Doom’ to Square Off Next Week in Senate Blockchain Hearingappeared first onCCN. || Bitcoin Remains Bearish as Cryptos Fall: Bitcoin was lower on Tuesday Investing.com - Cryptocurrencies continued to fall on Tuesday, as Bitcoin remained in bearish territory. Bitcoin fell 0.56% to $6,405.60 on the Bitfinex exchange, as of 8:13 AM ET (12:13 GMT). Cryptocurrencies overall were down, with the coin market cap of total market capitalization was at $210 billion at the time of writing compared to $212 billion on Monday. Ethereum, the second biggest alternative currency by market cap, fell 3.84% to $280.18 while Ripple, the third largest virtual currency, decreased 2.02% to $0.32992 and Litecoin was at $55.50, down 1.46%. In other news, trading volumes at virtual currency exchange Coinbase fell by 83% to $3.9 billion from their all-time high of nearly $21 billion in January. Financial research company Bernstein said in a recent report that Coinbase could end up with an unassailable competitive position as traditional financial firms are unlikely to push into crypto spot trading in the near future due to worry over regulations and money laundering. Still, exchanges are likely to double the amount of money they made last year, despite the fall in bitcoin and other digital coins, the report from Bernstein found, with Coinbase receiving about 50% of total revenues. Revenue at digital exchanages could increase to as much as $4 billion in 2018, compared to $1.8 billion in 2017. Meanwhile, the volume of bitcoin futures listed at CME Group (NASDAQ:CME) doubled in July and rose in August, while Chicago-based rival Bitcoin Futures CBOE failed to grow as much, the Financial Times reported. The two exchanges are under pressure as a third company, Intercontinental Exchange, plans to offer its own bitcoin futures in November. Related Articles How Shopin is Changing Big Data in Online Retail through Blockchain LocalBitcoin Purchases in Venezuela Grow Robustly Since June Suspects in $87M Cryptocurrency Theft Arrested || Overstock Has a Bitcoin Problem: - By John Engle In recent weeks, we have given considerable attention to Overstock.com Inc. ( OSTK ) and its efforts to transform itself from an internet retailer struggling to survive in the shadow of Amazon ( AMZN ) into the premier player in blockchain technology. In our first research note on Overstock, we discussed the strategic efforts to build a range of blockchain technologies , largely through its wholly owned subsidiary, Medici Ventures. Warning! GuruFocus has detected 4 Warning Signs with OSTK. Click here to check it out. OSTK 15-Year Financial Data The intrinsic value of OSTK Peter Lynch Chart of OSTK In our subsequent note, we discussed the unusual (one might even call it bizarre) shareholder letter from CEO Patrick Byrne, in which he made a stab at justifying his decision to sell 10% of his Overstock shares , despite the stock trading far lower than what he still claims it should be worth. In today's research note, we wed these prior threads in a final comment for the time being. Specifically, we discuss the implications of Overstock's move into blockchain in the context of the broader development of the technology and growth of the crypto market, and address the question of Byrne's capacity to lead the company through a successful self-reinvention. It's still all about bitcoin Let's start by talking about some of the market dynamics in the crypto and blockchain space. Even as cryptocurrencies proliferate and gain traction, and as blockchain technology more generally sees wider uptake and expanding usage, market perception of the whole space is tied up with a single cryptocurrency: bitcoin. Bitcoin was the first, and is still by far the most valuable, widely traded and best understood cryptocurrency on the market. Rivals such as Ethereum aim to match, or even supplant, the doyen of the crypto universe, but thus far bitcoin has held its own. That has been the case even through the wild volatility and crash after it hit its all-time high price of $19,783.21 on Dec. 17, 2017. While the crash lost it some relative market share, it has since regained all the lost ground. Today, bitcoin represents a little under 50% of the total crypto market capitalization. Story continues Bitcoin's first-mover advantage has remained its great strength. Even with all the other cryptocurrencies and tokens out there, it stands as the anchor point of the market - and of all the ancillary technologies. Some of that strength is the product of retail traders, who still see Bitcoin as a "crypto gold standard" of sorts. Options exchanges' decision to open crypto desks starting with bitcoin has further solidified its place. But bitcoin's position as crypto anchor has a consequence: Its fortunes tend to drive perceptions of the whole market. Thus, bitcoin's price moves tend to move the whole market. Thanks to bitcoin, there truly is no such thing as a diversified crypto portfolio, a lessons some novice traders have learned the hard way since bitcoin hit the skids in 2018. Byrne doesn't get it Trading in bitcoin, and all cryptocurrencies, is driven by irrational psychology. That irrationality has bled out across the entire blockchain universe. Bitcoin has neither concrete power over the technological side of blockchain, nor is its overwhelming market capitalization likely to hold. Yet, it will likely be quite a while before bitcoin's fortunes do not have an outsized impact on other cryptocurrencies and blockchain-focused, or even blockchain-adjacent, businesses. Overstock's Patrick Byrne seems perplexed by the impact of bitcoin on his company's share price. He even went on a tangent about it during his recent shareholder letter to discuss the matter: "I am disappointed that I when the deadline arrived for my sales this quarter, the stock had dropped (I sadly note that over the last 180 days the correlation between OSTK's and Bitcoin's daily moves has been 85.5%, and again warn people: we don't have significant holdings of Bitcoin)." Byrne directly acknowledged the high correlation between Overstock's stock price and the price of bitcoin. Yet he seemed to either not understand or refuse to acknowledge that the correlation is related to more than Overstock's holdings (or lack thereof) in bitcoin itself. Bitcoin is, fundamentally, a heuristic for the entire market, including the blockchain technologies that are not themselves cryptocurrencies (or even necessarily connected to any cryptocurrencies or tradable tokens). It may not be fair, but it is the reality of the market. So long as Overstock plans to bet all its chips on its transition to blockchain technology, it will be painted with the bitcoin brush. Bitcoin is still highly volatile, and that means Overstock may well be too. Byrne needs either to accept that reality or consider a different strategy. Verdict It appears inevitable that Byrne's strategic shift toward blockchain and crypto will, at least for a while, put Overstock's share performance (and thus recovery prospects) further in thrall to the vicissitudes of the bitcoin market. A CEO operating in this space should be able grasp this fact. Of course, Byrne can and should work to educate investors, and the broader market, about the wide range of blockchain businesses and why their futures are not bound up with that of bitcoin. But changing that perception will take time, and will likely only really come about as the blockchain and crypto sectors mature more thoroughly. Byrne's own comment raise worrying concerns about his level of understanding of the market dynamics involved. What Byrne characterizes as a disappointment should actually be seen as a warning. Overstock is trying to become a big player in blockchain. That means accepting the position of bitcoin in the constellation of blockchain technology and crypto generally. But that can present its own problems for a company trying to fundamentally shift its strategic vision and embark on value-additive growth projects after years of difficulties. An unmooring of price from improving fundamentals can be a big problem when it comes time to sell the new growth narrative. That puts a serious factor out of Overstock's control that could blunt its turnaround story. Disclosure: I/We own no stocks discussed in this article. This article first appeared on GuruFocus . Warning! GuruFocus has detected 4 Warning Signs with OSTK. Click here to check it out. OSTK 15-Year Financial Data The intrinsic value of OSTK Peter Lynch Chart of OSTK || “Crypto Sign of Hope”: Legal Uncertainty Suppresses Volatility, But ETH Volumes Are Encouraging: The second day of October and the beginning of the 4th quarter for the cryptocurrency market turned out to be anemic. The Bitcoin (BTC) does not show any price changes second day in a row staying at around $6,500. The Top-100 altcoins are also standing pat. Last week’s star XRP lost almost 3% during 24 hours despite Ripple’s announcement of three major partnerships including an $80 bln. banking giant Banco Santander. It seems that all possible optimism regarding XRP is already considered by investors in prices. At the same time, there is a trend on the growth of networks difficulty: since the beginning of June the difficulty of Zcash network has grown 4.5 times, as for the Bitcoin (BTC) network, the growth of difficulty has multiplied about 1.6 times. While “hodlers” keep waiting for the market reversal, miners are quickly selling the mined cryptocurrency admitting less income or even suffering losses. It is obvious that at the moment the market is frozen due to legal uncertainty. In the near future, it is American regulators who will determine the direction of the entire sector. Recently the representatives of the cryptocurrency business and companies providing traditional financial services went to Washington to try to speed up the creation of regulation and once again they wanted to explain to the officials the need for a friendly cryptocurrency environment in the United States. Right at the moment, Ripple heads the SAIV lobby group in Washington attempting to influence the US lawmakers. Everything in the world needs to grow up, otherwise, it dies. This law works here too, if the market does not receive any clear signals, new massive sales will be a matter of a very near future. The largest Asian regulators showed a very negative attitude to the cryptocurrency market. Thus, the Central Bank of India forced Zebpay, the largest crypto-exchange in the country, to stop its activities, banning banks from providing services to cryptocurrency companies. China continues to get rid of all possible crypto activities. New research did not help the market either: WSJ concluded that about $90 million was laundered through crypto exchanges for the last 2 years, although if we would try to imagine the volumes of such schemes within the traditional banking system, it is obvious that the cryptocurrency sector represents a very small share of the shadow business. Story continues The Bitcoin short-term technical picture does not change for a long time, so we turn to the assessment of the situation with ETH. Ethereum attracts buying interest up from the second decade of September, which caused its quotes’ rise from 13-month lows at $164.5 to current $225. It is also notable that from the beginning of the year the trading volumes grew to maximum levels reflecting the return of the demand and they have remained elevated for a long time. On the stock market, this is traditionally considered as a good signal of investors’ demand and maybe a preliminary sign of growth with the nearest target of about $280 from where the recent sale bad begun. This article was written by FxPro This article was originally posted on FX Empire More From FXEMPIRE: E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – October 2, 2018 Forecast EUR/USD Mid-Session Technical Analysis for October 2, 2018 Price of Gold Fundamental Daily Forecast – Price Action Being Driven by Technical Factors, Who is Buying? Risk Appetite Dwindles as NAFTA Cheer Fades Gold Just Below $1200 and Looking Higher Rescued NAFTA Deal Fails to Lift Global Risk Appetite || Bitcoin Cash Evangelist Roger Ver May Launch a Cryptocurrency Exchange: Bitcoin cash evangelist and Bitcoin.com owner Roger Ver is considering launching a cryptocurrency exchange that would use BCH as its base currency.
The controversial bitcoin cash promoter, once known as “Bitcoin Jesus” for his early support for the cryptocurrency in the years before last year’s BTC/BCH divorce, toldBloombergthat, if his company wanted to, it could build an exchange “really, really cheap.”
“If we build it ourselves, we can do it really, really cheap, and we get exactly what we want,” he said. “But we don’t have the security of a battle-tested exchange that’s been around for a while.”
The plans for the cryptocurrency exchange are still in the early stages, andVersaid that he has not decided whether to build it internally from the ground up or seek to acquire a platform that is already up-and-running.
Either way, he said that the exchange would be hosted atBitcoin.com, which already operates a mining pool and a cryptocurrency wallet that supports both BTC and BCH. Last November, the firm sparkedcriticismby quietly updating the Bitcoin.com wallet to default to bitcoin cash rather than bitcoin, which critics said could be confusing to new cryptocurrency users who stumbled upon the website by conducting a Google search for “bitcoin.”
Ver alleged that hosting the exchange at Bitcoin.com would provide the platform with “instant liquidity” due to the website’s current popularity. However, it’s unclear to what extent users desire to use BCH as a base currency, given how rare that is among other exchanges.
According toCoinMarketCap, CoinEx is the only major exchange that offers liquid markets denominated in BCH, though, as an exchange that operates on a transaction fee mining model, its volumes are not seen as reliable signals about trader interest for particular markets or trading pairs.
As of late Friday morning,bitcoin cashis valued at $515, which translates into a $9 billion market cap and makes BCH the fourth-largest cryptocurrency. The coin has a daily adjusted trading volume of $382 million, which ranks sixth among coins and tokens.Bitcoin, the most liquid cryptocurrency, has an adjusted daily volume of $3.5 billion.
Featured Image from World Blockchain Forum/Keynote/YouTube
The postBitcoin Cash Evangelist Roger Ver May Launch a Cryptocurrency Exchangeappeared first onCCN. || Pablo Soria de Lachica Explains the Advantages of Ethereum-Based Smart Contracts: MEXICO CITY, MEXICO / ACCESSWIRE / August 15, 2018 /As blockchain solutions continue to proliferate across all sectors of the international economy—by 2024 the market is expected to exceed USD$60 billionas reportedby Forbes, global investment expertPablo Soria de Lachicaexamines the benefits of Ethereum-based smart contracts and how companies can greatly improve their organizational capabilities by integrating this cutting-edge, scalable technology. He explains the basic concept as such--a simple system/program (if A executes B, then C occurs) designed to facilitate financial agreements between two or more vested parties, underpinned by the security, reliability and convenience of an encrypted blockchain cryptocurrency such as Ethereum (ETH) which surpasses the often-touted Bitcoin in application due to its open source coding language.
Soria de Lachicais not alone in his enthusiasm and positive outlook for this technology, as NASA have recentlyannouncedtheir investment in ETH research with an aim to adapting smart contracts to the programming of space craft, primarily due to the perceived stability of Ethereum (its core architecture cannot be modified, thus ensuring a lack of unexpected bugs/errors). Leading research and advisory company Gartnerestimates25% of all global organisations will be using smart contracts by 2022, streamlining their contractual and legal obligations through automated and instantaneous transactions. Considering the 57.3 million freelancers working in the United States alone (as establishedin 2017 by an Edelman Intelligence commissioned survey), Mr. Soria de Lachica has no doubts that such an easily-implemented and secure technology will continue to establish itself as a fundamental part of the economy.
Originallydescribedin 1996 by renowned cryptographer Nick Szabo as "a set of promises, specified in digital form, including protocols within which the parties perform on these promises", the concept of smart contracts has evolved with the advent of blockchain technologies such as Ethereum.Pablo Soria de Lachicaexplains that within a 21stcentury context, these instruments can be adapted to a huge range of financial sector uses including: the streamlining of securities and derivatives trading (offering real-time valuations and trades, circumvention of intermediaries); reduction of auditing costs through transparent, uniform and interoperable financial data recording; and could even extend to applications in mortgage processing, ensuring automatic and error-free payments, tracking and release of liens. He describes their three core characteristics as—1)immutability and irrevocability(once implemented, their content is unalterable and all provenance transparent); 2)decentralization(they exist in a decentralized, fully encrypted ledger secure from a singular server loss or ownership dispute); 3)independence(they cannot be modified and will only obey the architecture originally-agreed to, unless completed replaced with a new version).
Pablo Soria de LachicaMBA, is an internationally-acclaimed broker and forex expert specializing in financial analyses and trading consultation. He oversees a broad range of global transactions, including the development and implementation of trading tools, market analyses and tailored investment planning. In his personal time, Soria de Lachica is an avid philanthropist and has made significant contributions to ‘Bridges for Peace', ‘The Jewish Federation of Greater Phoenix' and ‘The America-Israel Cultural Foundation'. For more insights into emerging trends and technologies, please visitpablosoriadelachicanews.com.
Pablo Soria de Lachica - Foreign Exchange Specialist:http://PabloSoriaDeLachicaNews.com
Pablo Soria de Lachica on What Sets Ethereum Apart in Crypto Space:https://finance.yahoo.com/news/pablo-soria-lachica-sets-ethereum-030000347.html
Pablo Soria de Lachica Highlights Growing Ethereum Blockchain Adoption by Corporate World:https://finance.yahoo.com/news/pablo-soria-lachica-highlights-growing-143200065.html
Contact Information:
PabloSoriaDeLachicaNews.comhttp://PabloSoriaDeLachicaNews.comcontact@pablosoriadelachicanews.com
SOURCE:Pablo Soria de Lachica || Emerging Technologies Set to Change the Fixed-Income Market: This article was originally published on ETFTrends.com. As the stock market continues to make record highs, the infusion of robotics and artificial intelligence in the bond market is giving the fixed-income space its own renaissance as more emerging technologies are changing the landscape of the industry. A recent Forbes article highlighted the bout of changes happening in the fixed-income arena, such as more reliance on machine learning, automation and algorithms. Adopting this technology can allow for better liquidity and enhanced speed when it comes to identifying trends within the bond market. "After having experienced both the sell-side and the buy-side as a bond trader, it was clear to me that asset managers needed a more resilient market structure with more independent avenues to access liquidity, especially with reduced capital commitment and risk-taking by traditional intermediaries," explains Constantinos Antoniades, the Head of Fixed-Income at Liquidnet. "Equally important, asset managers until relatively recently had no tools to access liquidity directly from their peers for a better implementation of their investment strategies." Related: Embracing Disruption with the Disruptive ETF Virtual Summit Other breakthroughs with the incorporation of these emerging technologies include the ability to forecast the performance of a set of bonds via indexing. Machine learning technology can extrapolate news data and determine whether a story is positive or negative, giving bond traders market research to make trading decisions. ""The corporate bond market has evolved dramatically over the last few years, with electronic trading playing a much bigger role in liquidity and price formation," said Antoniades. "Nevertheless, what we have seen so far is just the beginning." Senior Loan ETF Rises The Invesco Senior Loan ETF ( BKLN ) was up 0.34% as the ETF continues its solid performance for the year with a 2.71% return YTD and 3.51% within the past 12 months. BKLN is based on the S&P/LSTA U.S. Leveraged Loan 100 Index, which tracks the market-weighted performance of the largest institutional leveraged loans according to market weightings, spreads and interest payments. Story continues Senior loans are typically used for business recapitalizations, acquisitions, leveraged buyouts, and re-financings. BKLN’s loan portfolio includes the purchase of loans from banks or other financial institutions through assignments or participations. Additionally, BKLN may acquire a direct interest in a senior loan from the agent or another lender via an assignment or an indirect interest in the loan by participating in another lender’s portion of a loan. BKLN sells the loans within the portfolio through an assignment, but it may also sell participation interests in the loans in order to fund redemption requests. The inherent risks associated with senior loans are similar to the risks of junk bonds, but have seniority in the event of borrower default so if the business is forced to sell its assets in a liquidation scenario, the senior loan will be paid first. In addition, senior loans are secured by assets whereas junk bonds are not, making them a more attractive investment option when constructing a loan portfolio. For more trends in fixed income, visit the Fixed Income Channel . POPULAR ARTICLES FROM ETFTRENDS.COM Latest Round of Tariffs Impacting Homebuilder ETFs Leveraged ETF Hinging on Positive U.S.-Japan Trade Talks ETFs with General Electric Down as Company Struggles with Turbine Issues Dow Stumbles as U.S.-China Trade Talks Stall Bitcoin Will Lose 50% of Its Market Share to Ethereum in Five Years READ MORE AT ETFTRENDS.COM > || Bitcoin Price Drops 13% to $6,400 and Tokens Plunge, is $6,000 Imminent?: The cryptocurrency market has seen one of its steepest declines in a one-day period since February of this year, losing more than $38 billion from its market valuation.
The Bitcoin price has dropped from $7,150 to $6,400 in less than six hours, recording a massive sell-off across major cryptocurrency exchanges.
Following the rapid decline in the price of Bitcoin, tokens and small market cap cryptocurrencies took a massive hit. Even tokens with the most liquid Bitcoin trading pairs like Tron, EOS, Cardano, ICON, and Ontology demonstrated daily drops in the range of 5 to 13 percent against Bitcoin.
Since Bitcoin dropped by more than 13 percent, large tokens have dropped by around 18 to 26 percent against the US dollar.
The sell-off of the cryptocurrency market was primarily triggered by the decline in the price of BTC. Tokens and major cryptocurrencies have shown consistent correlation with BTC since the correction of 2018 was initiated in February.
Many reports have falsely suggested that the decision of $90 billion investment bank Goldman Sachs to delay the launch of a Bitcoin trading desk led the price of BTC to decline substantially.
It is evident that the Goldman Sachs announcement had no impact on the short-term price of BTC. Ostensibly, the announcement of Goldman Sachs may seem like a negative development for the cryptocurrency sector.
But, Goldman Sachs emphasized that it has moved away from the deployment of a Bitcoin trading desk to focus on establishing cryptocurrency custodianship to help institutional investors and large-scale investors to enter the market.
“In response to client interest in various digital products, we are exploring how best to serve them in the space. At this point, we have not reached a conclusion on the scope of our digital asset offering,” a Goldman Sachs executive told Business Insider.
Banks and regulated financial institutions adjust to market needs and the demand from its customer base. The store of value nature of cryptocurrencies, considering their lack of correlation to the broader financial market, is a characteristic that appeals to institutions rather than retail traders.
As such, the decision of Goldman Sachs to focus on creating a robust and secure channel for institutions to utilize to invest in the cryptocurrency market is sensible and logical, and is positive for the cryptocurrency market.
Rather, it is highly likely that the drop in the prices of major cryptocurrencies on September 5 was triggered by a buildup of sell pressure and the stagnation of the volume in the cryptocurrency market.
BTC successfully initiated a corrective rally from the $6,000 to $7,500 in late August, but struggled to maintain momentum above the $7,000 mark.
Yesterday, CCNreportedthat the price of BTC will likely fall to the mid-$6,000 region. In the upcoming days, it is likely that the price of Bitcoin will test the $6,000 support level and bottom out in the low $6,000 region.
Featured image from Shutterstock. Charts fromTradingView.
The postBitcoin Price Drops 13% to $6,400 and Tokens Plunge, is $6,000 Imminent?appeared first onCCN. || Bitcoin.org, the Crypto Resource Site Founded by Satoshi, Celebrates 10th Anniversary: It has now been 10 years since the web domain Bitcoin.org was registered by the Bitcoin project’s first developers, Satoshi Nakamoto and Martti Malmi.
Aposton the website commemorates the anniversary of the famous domain’s registration back in 2008, shortly before the release of the original cryptocurrency white paper on October 31.
Though the pseudonymous bitcoin founder’s real identity remains a myster, Satoshi made sure to lay the groundwork for a fairly decentralized ownership structure for the domain before bowing out of the cryptocurrency scene.
In order to prevent any centralized power from taking over the website, the domain’s ownership structure includes several individuals outside of the original bitcoin developers. Apart from decentralization for security purposes, this also helps make sure that the website’s operations remain in line with its original aim — to promote education about bitcoin and encourage its adoption.
Under this framework, the website’s source code is open and visible to all, with only final publication privileges restricted to the co-owners. All activities connected to the site take place only by means of a public pull request process. Maintaining Bitcoin.org is thus a community project that crowdsources development, maintenance and translation work from thousands of contributors around the world.
On GitHub, for example, 4,400 commits from 245 contributors have been recorded for Bitcoin.org. The work of over 1,000 translation volunteers makes it possible for the site to be viewable in 27 different languages, automatically defaulting to the language of the user’s location.
In October 2017, CCNreportedthat Bitcoin.org was a vocal opponent of the SegWit2x proposal for the Bitcoin blockchain, which a number of cryptocurrency companies suggested as a solution to long transaction times and high fees.
As the “original” bitcoin website, its community and co-owners pride themselves in being purists who do not look kindly on what some see as undeclared forks. The website went as far as uploading a publicdenunciationof companies supporting SegWit2x, urging their customers to avoid storing their bitcoin holdings with them.
“The signatories of this agreement wrongly believe that the currency created by adopting this contentious hard fork will eventually become Bitcoin,” an excerpt from the post read. “Therefore storing any BTC on services such as Coinbase, Bitpay and Xapo is strongly not recommended.”
This move did not go down well with many who did not agree with Satoshi’s legacy website being used to attack perceived opponents. Since then, Bitcoin.org has been involved in other political tussles, such as a recent publicrowon GitHub which saw the community split down the middle on the subject of longtime developer Cobra-Bitcoin’s possession of the domain.
Images from Shutterstock
The postBitcoin.org, the Crypto Resource Site Founded by Satoshi, Celebrates 10th Anniversaryappeared first onCCN.
[Random Sample of Social Media Buzz (last 60 days)]
ツイート数の多かった仮想通貨
1位 $BTC 520 Tweets
2位 $TRX 253 Tweets
3位 $XRP 104 Tweets
4位 $ETH 92 Tweets
5位 $XVG 50 Tweets
2018-08-29 07:00 ～ 2018-08-29 07:59
COINTREND いまTwitterで話題の仮想通貨を探せ！
https://cointrend.jp/ || #cryptocurrency Price Analysis for #Bitsend #BSD :
Last Hour Change : 0.31 % || 14-10-2018 03:00
Price in #USD : 0.1410323717 || Price in #EUR : 0.1219506918
New Price in #Bitcoin #BTC : 0.00002253 || #Coin Rank 611 || Read the post to get BTC Bonus: Bitcoin Cash [BCH]’s Wormhole receives feedback from the enemy https://www.pivot.one/share/post/5bb278246c20cd4438beff94?uid=5ba294dd02b875197b637d6a&invite_code=AIKGXV …pic.twitter.com/DuIm50QkPA || Korea price
Time: 09/15 00:10:24
BTC: 7,320,625 KRW
ETH: 233,475 KRW
XRP: 311 KRW
#Bitcoin #Ethereum #Ripple || LN will act as the world wide web to bitcoin's Internet of money. || Bitcoin: $6,320
+0.32% (+$20.00)
High: $6,360.00
Low: $6,205.01
Volume: 441
$BTC #BTC #bitcoin || 1 BTC = 28299.00000000 BRL em 30/08/2018 ás 16:00:01. #bitcoin #bitcoinbr #bitcoinexchangebr || The current value of BTC at 15:23:24 on 02/09/2018 (AEST) is $9,995.00 AUD.
#bitcoin #australia || 2018-10-12 19:00:04 UTC
BTC: $6262.44
BCH: $442.01
ETH: $195.75
ZEC: $110.1
LTC: $52.84
ETC: $9.46
XRP: $0.4235 || Price: $6,529.79
1h: 0.32%
24h: 0.08%
7d: 0.47%
Market Cap: $112,761,342,643.00
#Bitcoin #BTC
|
Trend: down || Prices: 6596.54, 6596.11, 6544.43, 6476.71, 6465.41, 6489.19, 6482.35, 6487.16, 6475.74, 6495.84
|
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 2021-06-16]
BTC Price: 38347.06, BTC RSI: 48.15
Gold Price: 1859.50, Gold RSI: 48.01
Oil Price: 72.15, Oil RSI: 72.73
[Random Sample of News (last 60 days)]
3 Common Crypto Misconceptions Debunked: The total value of the cryptocurrency market is in the $1.7 billion range as of today, according to CoinMarketCap, and while cryptos are front and center in everyone’s life — even for non-investors thanks to incessant celebrity tweets, memes and headlines — there are a lot of misconceptions about them floating around.
See:Crypto Curious but Risk Averse? You Can Invest As Little As $1 – on VenmoFind:Cryptocurrency Complicates Splitting Assets During a Divorce
Let’s examine a few of them:
While cryptocurrency can be attractive for criminals because of their intrinsic pseudonymous nature and ease of transfer, crypto-related crime fell significantly in 2020, according to research from Chainalysis.
The research notes that while in 2019, criminal activity represented 2.1% of all cryptocurrency transaction volume, or roughly $21.4 billion worth of transfers, in 2020 the criminal share of all cryptocurrency activity fell to just 0.34%, or $10 billion in transaction volume.
Discover:Beyond Bitcoin: Looking at Some Crypto Financial Jargon
“It is true that cryptocurrencies can be used for illegal purposes to some extent,” said Timothy Robinson, CEO of InVPN.
“The U.S. dollar, on the other hand, remains the most favored currency for black market transactions. Fiat money, like cryptocurrencies, can be used for unlawful transactions or operations. Most things that can be used for good may also be used for bad, from Microsoft suite products being used to compose anarchist treatises or keep account of extortion payments to bombing cars and terrorist messaging apps,” he added.
Some countries have imposed bans, including Nigeria, the world’s second-largest cryptocurrency market after the U.S. The country has banned the trading of cryptocurrencies, according to Deutsche Welle, a German media outlet. India has proposed a law banning cryptocurrencies, fining anyone trading in the country or even holding such digital assets, according to Reuters. The bill would represent one of the world’s strictest policies against cryptocurrencies, penalizing possession, issuance, mining, trading and transferring crypto-assets, Reuters reported.
It’s however unlikely that the U.S. would face a similar scenario, despite some crypto-skeptics and critics voicing concerns around cryptos, such as Treasury Secretary Janet Yellen, who said the U.S. doesn’t have a framework to regulate digital currency adequately, according to The Wall Street Journal.
Know:Banks in Nebraska to Accept Crypto – Despite Warren Buffett’s Misgivings
However, SEC Commissioner Hester Pierce, aka “crypto mom,” recently said, “I think we were past that point [where governments could effectively ban crypto] because you’d have to shut down the internet,” according to MarketWatch.
“A government could say it’s not allowed here, but people would still be able to do it and it would be very hard to stop people from doing it. It would be a foolish thing for a government to attempt,” she added.
“Cryptocurrencies, according to skeptics, will be outlawed soon. However, there is no evidence that this will occur anytime soon. In fact, financial regulators around the world have simply stated that the crypto industry requires additional regulation,” Gary Amaral, Marketing Advisor of Airborne App, told GOBankingRates.
Marie Tatibouet, CMO at Gate.io, a global blockchain asset exchange platform, told GOBankingRates that while it’s a common myth, it really isn’t difficult.
“You are not dealing with the underlying code at the surface level, nor are you making smart contracts,” Tatibouet said.
“There are just two things that you need to take care of. Make sure that you are using the right public address (ex. not sending Bitcoin to an Ethereum address) and that you are not sharing your password or private key with anyone. That’s really it. Modern exchanges and wallets have brought in interfaces that are far more accessible,” she added.
See:Millennials Own More Crypto Than Any Other GenerationFind:Biden to Crack Down On Tax Evasion by Crypto Investors
People tend to get intimidated by crypto because they think only financial people can understand it. “The point is that you don’t need to know anything about cryptocurrencies to use them, just as you don’t need to know how to build a phone to use one,” said tech security expert Michael Robinson.
“Your knowledge is determined by what you want to learn and do with it, thus mastering the fundamentals is sufficient for activities such as trading, investing, or simply owning. Managing crypto won’t be difficult if you already know how to work with real money online. Those systems are similar, and they are simple to use. New things can be perplexing, but using cryptocurrency as one does not require you to be an expert,” he added.
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This article originally appeared onGOBankingRates.com:3 Common Crypto Misconceptions Debunked || Bitcoin (BTC) Halts Decrease With Bounce Above Support: On May 13, bitcoin (BTC) bounced above the $47,800 support area, putting a temporary end to the downward movement that began the day prior.
While it’s still trading above support, there are no clear bullish reversal signs in place.
BTC decreased significantly on May 12, reaching a low of $48,600. The decrease continued the next day, taking the price all the way to a low of $46,000.
However, BTC has bounced back since, creating a doji candlestick above the $47,800 support area. BTC hasn’t closed below this level since March. This candlestick also had a bullish close.
Technical indicators are neutral. While the Stochastic oscillator has made a bullish cross, theRSIhas crossed below 50.
In addition, the MACD has crossed into negative territory for the first time since October 2020 (red arrows).
The two-hour chart shows that BTC was rejected by the $51,125 resistance area, which is the 0.382 Fib retracement resistance level.
Despite the rejection, technical indicators are turning bullish. TheMACDhas given a bullish reversal signal while the RSI has generated a bullish divergence and has crossed above the 30-line.
The next resistance area is found at $52,725, created by the 0.5 Fib retracement level.
The wave count indicates that BTC is in the C wave of an A-B-C corrective structure.
A target of $41,560 would give waves A:C a 1:1 ratio. In addition, it would take the price to the support line of the descending channel.
The sub-wave count is shown in red. It suggests that the price is in sub-wave four, which has developed into asymmetrical triangle.A breakdown from this pattern would likely confirm that the price is heading towards the support line of the channel.
On the other hand, an increase above the sub-wave 1 low of $53,500 (red line) would invalidate this possibility.
For the longer-term count,click here.
Despite being at support, BTC has not shown any bullish reversal signs. Bitcoin could likely fall to $41,560 before resuming its upward movement.
For BeInCrypto’s previousbitcoin(BTC) analysis,click here. || Concordium Concludes $36 Million Fundraising 2 Months Ahead of Mainnet: ZUG, SWITZERLAND / ACCESSWIRE / April 27, 2021 / Privacy-centric blockchain, Concordium, has completed its 4th global Private Placement round of the cryptocurrency GTU. The funds raised will be used to finance the project's further development, decentralization, mainnet launch, and listing on crypto exchanges. The Private Placement rounds have secured Concordium a capital injection of 36 million USD. The company valuation in the 4th round was 1.45 billion USD. Concordium's CEO, Lone Fonss Schroder, says: "In recent months, we have experienced great interest from companies and developers around the world. Concordium's blockchain code has just become publicly available , enabling developers in general and RustLang developers, in particular, to create their applications on Concordium." The use of funds includes technical development of core protocols and tooling, which were announced in Concordium's newest roadmap and specific features related to privacy and identity. Concordium plans to launch its blockchain in June 2021 and will shortly thereafter list its cryptocurrency on several crypto exchanges. Concordium wants to achieve a broad application of the blockchain, and the development has focused on solving some of the problems that have so far prevented the widespread use of the technology by focusing on the needs of developers and companies and taking into account future regulatory rules. To open an account on Concordium's blockchain, users must be identified. The blockchain allows for fast and secure transactions and, unlike other blockchains, has stable transaction costs, regardless of fluctuations in the exchange rate of the cryptocurrency. The Concordium blockchain utilizes a Proof-of-Stake model to achieve an especially low-energy consumption. Proof-of-Work blockchains, such as Bitcoin and Ethereum consume excessive amounts of energy due to their extraction activities; energy used for Bitcoin extraction has suppressed the electricity consumption of several medium-sized economies. Concordium's Proof-of-Stake model consumes a microscopic amount of energy compared to Bitcoin and Ethereum. Story continues About Concordium Concordium is a decentralized public blockchain that solves traditional blockchain shortcomings through built-in user identification and Zero-Knowledge-Proofs, which are used to replace anonymity with securing private data. The technology supports encrypted payments, and provides relevant authorities the ability to identify users, and allows the user to verify the identity of counterparties. The blockchain is built based on peer-reviewed scientific papers, which is important for safety. For more information, please visit: www.concordium.com Media Contact: Maria Rojas Marketing Manager mar@concordium.com SOURCE: Concordium View source version on accesswire.com: https://www.accesswire.com/642460/Concordium-Concludes-36-Million-Fundraising-2-Months-Ahead-of-Mainnet || Here's Why You Should Hold Silgan (SLGN) in Your Portfolio: Silgan Holdings Inc.SLGN is benefiting from the surge in demand for vital products like food, beverage and consumer health and personal care products amid the coronavirus crisis. Apart from this, the company is also witnessing strong volume gains even in regions where stay-at-home requirements have been eased. The ongoing momentum in demand and expected benefits from its cost reduction actions will boost results this year. The acquisition of the dispensing business of the Albéa Group is a strategic fit for the closures business and is expected to strengthen its position in the dispensing markets and lead to cost synergies.Silgan currently has a Zacks Rank #3 (Hold) and a VGM Score of B. Our research shows that stocks with a VGM Score of A or B, when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3, offer the best investment opportunities for investors. You can seethe complete list of today’s Zacks #1 Rank stocks here.Solid Q1 Results:Silgan’s first-quarter 2021 adjusted earnings improved 31.5% year over year to 75 cents per share. Total revenues of $1,238 million were up 20.2% year over year on higher sales across its business segments. The top and bottom lines both surpassed the respective Zacks Consensus Estimate.Upbeat Guidance:Silgan has been witnessing strong volumes in all of its segments on demand for vital products like food, beverage and consumer health and personal care products triggered by the COVID-19 pandemic. Backed by the momentum in demand for shelf-stable metal food packaging and health and hygiene products, Silgan anticipates adjusted earnings per share in the range of $3.30 to $3.45 in 2021. The mid-point of the range indicates an improvement of 10.3% over the record earnings per share of $3.06 in 2020. The company’s focus on cost reduction will also continue to aid margins.Positive Growth Expectations:The Zacks Consensus Estimate for the company’s earnings per share for 2021 is currently pegged at $3.38, indicating year-over-year growth of 10.5%. The same for 2022 stands at $3.54, which suggests year-over-year improvement of 4.7%.Positive Earnings Surprise History:Silgan has a trailing four-quarter earnings surprise of 15.8%, on average.
In June 2020, Silgan closed the acquisition of Albea’s dispensing business. It is a strategic fit for the Dispensing and Specialty Closures business. This buyout is likely to strengthen its position in the dispensing markets. The company expects to realize operational cost synergies of $20 million, on an annual run rate basis. These synergies would be achieved primarily through reductions in general and administrative expenses, procurement savings and manufacturing efficiencies. The buyout is anticipated to become more accretive as synergies are phased in over the next 18 months, and customer buying patterns for the beauty and personal care markets return to more normal levels.The metal container segment’s income in 2021 is likely to modestly improve year over year on the current solid demand and Silgan’s manufacturing-improvement efforts. The Dispensing and Specialty Closures segment is gaining from strength in the personal care, hygiene and health care markets, and an early recovery in the fragrance market. Segment income is expected to increase significantly in 2021 compared with the prior year primarily owing to the inclusion of the dispensing operations of Albéa. New business gains and improved manufacturing efficiencies will also drive the segment’s income. The Custom Containers segment continues to benefit from favorable product mix, anticipated higher volumes backed by new business awards and manufacturing efficiencies.
The stock has gained 12.1% year to date against the industry’s decline of 7.4%.
Image Source: Zacks Investment Research
Some better-ranked stocks in the industrial products sector areTennant CompanyTNC,Encore Wire CorporationWIRE andArconic CorporationARNC. All of these stocks sport a Zacks Rank #1, at present.Tennant has an expected earnings growth rate of 49.5% for the current fiscal year. The company’s shares have gained around 18% year to date.Encore Wire has an estimated earnings growth rate of 49.5% for the current fiscal year. Year to date, the company’s shares have rallied nearly 36%.Arconic has a projected earnings growth rate of 447% for the current fiscal year. The stock has appreciated around 21% so far this year.
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 reportSilgan Holdings Inc. (SLGN) : Free Stock Analysis ReportTennant Company (TNC) : Free Stock Analysis ReportEncore Wire Corporation (WIRE) : Free Stock Analysis ReportArconic Corporation (ARNC) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || MicroStrategy Buys Another 271 BTC for $15 Million: MicroStrategy has bought $15 million worth of bitcoin (BTC) on May 13. They purchased 271 coins at an average price of $55,387.
CEO Michael Saylorbought at the dip, after the knock BTC took in the wake of Elon Musk tweeting that Tesla will no longer accept bitcoin for purchases, due to the rate of energy consumption when mining cryptocurrencies.
Saylor explained that Musk’s decision was “ironic because no incremental energy is used in a bitcoin transaction.”
It wouldn’t be the first time Saylor has put his money where his mouth is. He said he believes thatBTC will replace goldas a safe haven asset and that BTC replace stock indices such as that S&P 500 and Dow. This came after MicroStrategy bought $10 million of BTC in January.
As part ofMicroStrategy’s bitcoin plan, they bought 20,857 bitcoins in Q1 of 2021. They purchased the coins for $1.086 billion, at an average purchase price of $52,087 per BTC.
“MicroStrategy’s first-quarter results were a clear example [of] our two-pronged corporate strategy,” they said in a release. “To grow our enterprise analytics software business and acquire and hold bitcoin [which] is generating substantial shareholder value.”
At the time, Saylor spoke about the company’s approach to bitcoin saying, “We continue to be pleased with our bitcoin strategy.” Saylor elaborated, claiming that the company raised over $1 billion in additional capital during the first quarter. It used this money to expand its holdings.
MicroStrategy is the largest independent publicly-traded business intelligence company. Saylor’s company provides modern analytics on an open, comprehensive enterprise platform used by many of the world’s most admired brands in the Fortune Global 500. || EUR/USD Daily Forecast – Test Of Resistance At 1.2250: EUR/USD Video 25.05.21. Euro Moves Higher Against U.S. Dollar EUR/USD is currently trying to settle above the resistance at 1.2250 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 at 89.75 and gained additional downside momentum. Currently, the U.S. Dollar Index is trying to get to the test of the next support at 89.50. If the U.S. Dollar Index declines below this level, it will move towards the support level at yearly lows at 89.20 which will be bullish for EUR/USD. Today, foreign exchange market traders have a chance to take a look at economic data from Germany. First-quarter GDP Growth Rate report indicated that GDP declined by 1.8% quarter-over-quarter compared to analyst consensus which called for a decline of 1.7%. On a year-over-year basis, GDP declined by 3.1%. Germany will also provide Ifo Business Climate report for May which is expected to show that Business Climate improved from 96.8 in April to 98.2 in May. It should be noted that Business Climate has steadily improved since the beginning of this year, and it managed to get back to pre-pandemic levels. Technical Analysis EUR/USD managed to settle above the resistance at 1.2220 and is testing the next resistance level at 1.2250. If this test is successful, EUR/USD will head towards the resistance which is located at 1.2280. A successful test of the resistance at 1.2280 will push EUR/USD towards the next resistance at 1.2310. In case EUR/USD manages to settle above this level, it will head towards the resistance at at 1.2350. On the support side, the previous resistance at 1.2220 will serve as the first support level for EUR/USD. If EUR/USD declines below this level, it will head towards the next support at 1.2175. There are no material levels between 1.2175 and 1.2220 so this move may be fast. If EUR/USD settles below 1.2175, it will head towards the next support at 1.2155. 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: E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Trying to Build Support Base at 34312. Bitcoin Stays Below The Key $40,000 Level European Equities: Economic Data from Germany and the U.S to Guide the Majors Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – May 25th, 2021 GBP/USD Daily Forecast – U.S. Dollar Is Under Pressure Against British Pound Lordstown Motors Crashes 10% Amid Trimmed Production Forecasts || NVR Q1 Earnings Surpass Estimates, Backlogs Rise 42% Y/Y: NVR, Inc. NVR reported better-than-expected results for first-quarter 2021. Earnings not only beat estimates for the third straight quarter but also improved significantly year over year. Results benefited from robust demand for new homes on lower mortgage rates and a rising work-from-home trend in the United States. Despite the solid results, shares of the company fell 2.2% during trading hours on Apr 21. Notably, negative investor sentiments were witnessed as the company reported lower earnings compared with the previous quarter. Earnings & Revenue Discussion The company reported earnings of $63.21 per share, which topped the consensus mark of $61.90 by 2.1%. Also, the reported figure grew 40.6% from the prior-year figure of $44.96 per share. Total revenues (Homebuilding & Mortgage Banking fees combined) amounted to $2.04 billion for the reported quarter. The figure increased 29% on a year-over-year basis, backed by robust demand for new homes on lower mortgage rates. NVR, Inc. Price, Consensus and EPS Surprise NVR, Inc. price-consensus-eps-surprise-chart | NVR, Inc. Quote Segment Details Homebuilding: Revenues at the segment totaled $1.96 billion, up 26.2% from the year-ago level. However, the metric missed the consensus estimate of $2.1 billion by 4.4%. Settlements were up 20% year over year to 5,072 units. Notably, new orders increased a notable 26% from the prior year to 6,314 units. Average sales price of new orders also inched up 10% from the prior-year quarter to $410,500. Cancellation rate was 10% for the quarter, down from 21% in the year-ago period. Quarter-end backlog on a unit and dollar basis was up 42% and 51% from the year-ago quarter to 12,791 units and $5.20 billion, respectively. Gross margin came increased 19.7% year over year. Mortgage Banking: Mortgage banking fees increased 189.8% year over year to $77.7 million. Moreover, mortgage closed loan production totaled $1.41 billion, up 25% year over year. Story continues Financials At first-quarter end, NVR had cash and cash equivalents for Homebuilding and Mortgage Banking of $2.75 billion and $21.1 million compared with $2.71 billion and $63.55 million, respectively, at 2020-end. Zacks Rank & Peer Releases NVR which share space with Toll Brothers, Inc . TOL, KB Home KBH and Lennar Corporation LEN in the same industry currently has a Zacks Rank #3 (Hold). You can see the complete list of todays Zacks #1 Rank (Strong Buy) stocks here . Toll Brothers reported first-quarter fiscal 2021 (ended Jan 31, 2021) results, wherein earnings and revenues topped the Zacks Consensus Estimate on solid housing gross margin. KB Home currently carrying a Zacks Rank #1 posted impressive first-quarter fiscal 2021 results. The results are mainly attributable to a favorable pricing environment due to robust housing market demand, increased operating leverage on higher revenues and lower amortization of previously capitalized interest. Lennar Corporation currently carrying a Zacks Rank #2 (Buy) reported better-than-expected results for first-quarter fiscal 2021 (ended Feb 28, 2021). The quarterly results benefited from robust housing market fundamentals backed by low interest rates. Also, solid execution of homebuilding and financial services businesses added to the positives. 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 were 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 Toll Brothers Inc. (TOL) : Free Stock Analysis Report KB Home (KBH) : Free Stock Analysis Report NVR, Inc. (NVR) : Free Stock Analysis Report Lennar Corporation (LEN) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Ethereum: The Best Cryptocurrency for Your TFSA?: The cryptocurrency industry has gone through a massive boom recently, and many investors are now interested. Several cryptos have significantly outperformed even the best growth stocks over the last year. But after a massive rally the last 16 months, which is the best to buy for your Tax-Free Savings Account (TFSA); Bitcoin, Ethereum or something else? For years the industry has been controversial, but it looks like many governments, companies and investors are starting to accept cryptocurrencies as legitimate assets and investments. One of the problems with crypto and why its been so controversial is because there is such little regulation in the space. This makes it a lot riskier because there is the potential for fraud. Its also a difficult industry because it can be hard to understand the technology behind each coin. For many investors, though, the big gains from Bitcoin, and now more recently, Dogecoin, are enticing, and investors understandably want to get involved. Like with stocks, though, its important to research it and make sure it has value if youre making an investment. There have been plenty of examples of bubbles in the past, and there will be plenty in the future. So those cryptocurrencies that have rallied exceptionally but have little value to back those gains likely wont pan out in the long run. Should you buy Bitcoin? Bitcoin is an asset with potential that could be worth a long-term investment in your TFSA. The coin will always have value because its the revolutionary technology that spurred innovation in the industry. It also has a natural advantage because it was the first coinone of those being the fact that its the main trading pair for thousands of coins in existence. The problem is that there are many shortcomings of Bitcoin and its technology. Thats part of why so many new coins have been created over the years, with the aim of improving the issues in the cryptocurrency industry. So Bitcoin will always have value because its so well-known and the first comer in the industry. However, the best investments today will be those cryptocurrencies that offer the most technological potential. Story continues Thats why last month, I recommended investors focus their long-term investment in the crypto space on Ethereum. Heres why Ethereum is the best cryptocurrency for your TFSA In my view, Ethereum offers investors the best potential long-term. Thats why I think one of the best stocks to buy for your TFSA today is The Ether Fund (TSX:QETH.U). Ethereum is a decentralized, open-source blockchain. However, the main differentiator from Bitcoin, which gives it so much potential, is its smart contract functionality. This means you can do a lot more with Ethereums blockchain, such as running decentralized applications. Its a big step up in blockchain technology. And the more popular the Ethereum blockchain gets, the more the value of its native cryptocurrency, Ether, will rise. Thats why The Ether Fund looks so promising as a long-term investment for your TFSA. Investors can gain exposure directly to Ether, which overtime should continue to grow in value. More companies are quickly adapting to this technology too. Visa , for example, is an example of a major company that has announced its intention to use the Ethereum blockchain. The potential of Ethereum and, consequently, Ether havent gone unnoticed, though. Investors have been quietly buying up Ethereum lately, even as Bitcoin has been rangebound. Since I recommended Ethereum to investors just one month ago, it has already gained a whopping 67%. So although Bitcoin may not be in the news lately, and speculative cryptocurrencies like Dogecoin continue to make headlines, Ethereum quietly continues to rally, which is only making it more expensive to buy for the long-term. So if youre looking to make an investment in the cryptocurrency industry, Id consider Ethereum, and Id consider it soon. The post Ethereum: The Best Cryptocurrency for Your TFSA? appeared first on The Motley Fool Canada. Speaking of investments you'll want to make soon, here are the top 10 stocks to buy in the month of May! The 10 Best Stocks to Buy This Month Renowned Canadian investor Iain Butler just named 10 stocks for Canadians to buy TODAY. So if youre tired of reading about other people getting rich in the stock market, this might be a good day for you. Because Motley Fool Canada is offering a full 65% off the list price of their top stock-picking service, plus a complete membership fee back guarantee on what you pay for the service. Simply click here to discover how you can take advantage of this. Click Here to Learn More Today! More reading 17 Top TSX Stock Picks for May 2021 Forget Dogecoin: 1 Canadian Growth Stock to Buy in May 2021 for Big Gains Canadian Investors: Here Are 2 of the Best Stocks to Buy Today 3 Canadian Stocks Under $10 to Buy Now Short-Sellers Beware! WELL Health Stock Is a Rocket That Could Be Ignited Anytime Two New Stock Picks Every Month! 5 Years From Now, Youll Probably Wish Youd Grabbed These Stocks
Click here now for your free subscription to Take Stock , The Motley Fool Canadas free investing newsletter. You arent on the list to receive our newest stock picks but its not too late. 2021 || Allogene (ALLO) CAR T Therapy for Myeloma Gets FDA RMAT Tag: Allogene Therapeutics, Inc. ’s ALLO CAR T cell product candidate — ALLO-715 — has been given Regenerative Medicine Advanced Therapy (“RMAT”) designation by the FDA for treating relapsed/refractory multiple myeloma (r/rMM). The RMAT designation was created under the 21st Century Cures Act. It is granted to speed up the development and review of regenerative therapies that target serious or life-threatening conditions. The designation was bestowed on ALLO-715 due to its potential to address the growing unmet need in heavily pre-treated r/rMM patients. Allogene’s shares have gained 39.2% this year so far against the industry’s decrease of 3.7%. Please note that the company is currently evaluating ALLO-715 in a phase I study — UNIVERSAL — as a potential treatment for r/rMM. Initial data from the study presented in December demonstrated treatment with ALLO-715, an allogeneic CAR T therapy directed at BCMA achieved clinical response and also eliminated the need for bridging therapy and delays associated with autologous CAR T manufacturing. Data from the study also showed that higher the dose, higher was the response rate. Allogene is also evaluating ALLO-715 in combination with SpringWorks Therapeutics ’ SWTX late-stage candidate, nirogacestat, as a potential treatment for r/rMM as part of the UNIVERSAL study. Apart from ALLO-715, the company has three other pipeline candidates in early-stage of clinical development, including three CAR T cell product candidates — ALLO-501 and ALLO-501A— and a monoclonal antibody (mAB), ALLO-647. Please note that the company utilizes ALLO-647 as part of its differentiated lymphodepletion regimen in clinical studies evaluating ALLO-501 or ALLO-715. The company plans to announce updated and initial data from two phase I studies — ALPHA and ALPHA2 — evaluating ALLO-501 and ALLO-501A, respectively, in the second quarter. It intends to start a pivotal, phase II study on ALLO-501A, subject to positive data and regulatory approvals. Please note that ALLO-501A is the second-generation version of ALLO-501, which is designed to potentially target more patients compared to ALLO-501. The company is likley to have initiated a phase I study on its first CAR T candidate for solid tumors, ALLO-316, in the first quarter. Meanwhile, the FDA cleared an investigational new drug (“IND”) application for initiation of a clinical study to evaluate first anti-BCMA TurboCAR T cell therapy, ALLO-605, in r/rMM earlier this month. Although the company’s pipeline candidates are in early- to mid-stage studies, the candidates hold potential as they primarily target oncology indications with high unmet need. Story continues Allogene Therapeutics, Inc. Price Allogene Therapeutics, Inc. Price Allogene Therapeutics, Inc. price | Allogene Therapeutics, Inc. Quote Zacks Rank Allogene currently has a Zacks Rank #3 (Hold). A couple of better-ranked stocks from the biotech sector include Avid Bioservices, Inc. CDMO and Immunome, Inc. IMNM, both carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Avid’s earnings per share estimates have moved north from 5 cents to 9 cents for 2021 in the past 30 days. The company delivered an earnings surprise of 100.42%, on average, in the last four quarters. The stock has risen 73.6% so far this year. Immunome’s loss per share estimates have narrowed from $1.53 to $1.46 for 2021 in the past 30 days. The stock has surged 181.5% so far this year. 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 Avid Bioservices, Inc. (CDMO) : Free Stock Analysis Report Allogene Therapeutics, Inc. (ALLO) : Free Stock Analysis Report SpringWorks Therapeutics Inc. (SWTX) : Free Stock Analysis Report Immunome, Inc. (IMNM) : Free Stock Analysis Report To read this article on Zacks.com click here. View comments || In an About Face, Elon Musk Says Tesla Will Stop Accepting Bitcoin for Car Purchases: Tesla has slammed the brakes on bitcoin payments. Just weeks after CEO Elon Musk announced that the EV automaker would accept the digital currency as a form of payment, he has reneged on the decision due to environmental concerns. The 49-year-old tech tycoon, who has been an avid supporter of cryptocurrency , took to Twitter on Wednesday to let the public know that Tesla has “suspended vehicle purchases using bitcoin” due to the “rapidly increasing use of fossil fuels for bitcoin mining.” “Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment,” Musk wrote. Tesla & Bitcoin pic.twitter.com/YSswJmVZhP — Elon Musk (@elonmusk) May 12, 2021 Following Musk’s about-face, the world’s biggest and oldest digital currency fell almost 17 percent in value to its lowest point since the beginning of March. Bitcoin had previously been on an upward trajectory that saw it rise by 400 percent over the past year and hit a record high of $40,000 per coin . Musk had been one of the catalysts for its success with Tesla investing $1.5 billion into the cryptocurrency last February. Regardless, it seems even Musk can’t ignore that the environmental cost of bitcoin is at odds with Tesla’s eco-friendly ethos. Indeed, the “mining” process, which typically involves tens of thousands of computers operating around the clock, drains colossal amounts of energy. According to Cambridge University researchers , mining bitcoin currently consumes around 110 Terawatt Hours per year, which equates to roughly 0.55 percent of global electricity production. To put that into perspective, the cryptocurrency consumes more energy per year than countries such as the Netherlands, Argentina, Malaysia and Sweden. Story continues Furthermore, as Bill Gates eloquently summed it up in a recent interview with CNBC , “Bitcoin uses more electricity per transaction than any other method known to mankind.” Do you want Tesla to accept Doge? — Elon Musk (@elonmusk) May 11, 2021 Musk isn’t ready to pull the plug on all crypto, though. He said Tesla will look at other cryptocurrencies that use less than 1 percent of Bitcoin’s energy per transaction. Dogecoin could be one such option as it uses 0.12 of a Kilowatt-hour (KWh) per transaction whereas bitcoin uses 707 KWh, according to statistics from TRG Datacenters . Musk has been a proponent for the meme-originated coin and recently plugged it during his Saturday Night Live appearance. Prior to the bitcoin announcement, he also did a poll asking whether Tesla should accept dogecoin and 78.2 percent of the Twittersphere voted yes. Shortly after Musk renounced bitcoin, though, dogecoin fell sharply by 15 percent to below 40 cents per coin. It’s safe to say whichever cryptocurrency Musk ends up accepting at Tesla, its value will stand to benefit from the news. Let the efficiency games begin. More from Robb Report The Mondavi Sisters Are the First Napa Valley Vintners to Sell Wine for Cryptocurrency Green Wheels? Matchbox's New Tesla Roadster Model Is Made From 99% Recycled Materials You Can Now Buy London's Most Expensive Penthouse With Bitcoins--or $244 Million Best of Robb Report The Chevy C8 Corvette: Everything We Know About the Powerful Mid-Engine Beast The World’s Best Superyacht Shipyards The ABCs of Chartering a Yacht
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 38053.50, 35787.25, 35615.87, 35698.30, 31676.69, 32505.66, 33723.03, 34662.44, 31637.78, 32186.28
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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 2019-02-26]
BTC Price: 3854.36, BTC RSI: 54.38
Gold Price: 1325.10, Gold RSI: 59.48
Oil Price: 55.50, Oil RSI: 56.69
[Random Sample of News (last 60 days)]
Bitcoin – Back in a Rut and Relying on sub-$3,600 Support: Bitcoin fell by 0.46% on Wednesday, partially reversing a 1.67% rise on Tuesday, to end the day at $3,622.3.
Another range bound start to the day saw Bitcoin move within $42 range through the first half of the day, before striking an early afternoon intraday high $3,677.
The particularly range bound morning saw Bitcoin steer clear of the first major support level at $3,506.7, with the early afternoon intraday high $3,677 coming up short of the first major resistance level at $3,726.8.
Bitcoin’s failure to break through to $3,700 levels led to an afternoon reversal, with Bitcoin falling to a late intraday low $3,591.2 before finding support, the first major support level avoided on the day.
For the Bitcoin bulls, recovering to $3,600 levels by the day’s end was key, with Bitcoin continuing to find strong support at $3,500 levels in spite of the tight ranges and Tuesday’s brief dip to $3,400 levels.
How long the support can continue remains to be seen, with Bitcoin failing to break through to $3,700 levels for a 3rdconsecutive day on Wednesday, a downward bias resuming, following Saturday’s brief visit to $3,800 levels.
A lack of news and progress on the regulatory front has ultimately contributed to the lack of upward momentum. Through the final quarter of last year, investors were primed and ready to, not only respond to the SEC’s anticipated review of the 9 Bitcoin ETF applications that it had rejected, but also to the planned roll out of unified rules and regulations by the G20.
Chatter from Davos from Wednesday heard investors be supportive of the Blockchain technology, while suggesting that the value of Bitcoin would or should hit zero. While the market has become somewhat resilient to such chatter, bankers the world over having sledged the cryptomarket on a frequent basis, investor views may have a more material impact. The plans to introduce Bitcoin ETFs into the cryptomarket is to draw in institutional investors after all. If their view is that Bitcoin should be valued at zero, there’s unlikely to be the inflows that many are hoping for…
To make matters worse, the Cboe Exchange withdrew its VanEck SolidX Bitcoin ETF submission.
While the view is that the submission was withdrawn due to the U.S government shutdown, the withdrawal is somewhat of a strange decision when considering the time it has been sitting with the SEC under review. The reality is that, until there are more stringent rules and regulations, the SEC may take the path of least resistance and continue to reject any submissions.
Get Into Cryptocurrency Trading Today
At the time of writing, Bitcoin was down 0.34% to $3,610.1, with Bitcoin having to rely on sub-$3,600 support early in the day after falling from a morning high $3,623 to a morning low $3,596.9 before recovering to $3,600 levels.
A hold onto $3,600 levels through the rest of the morning would support a run at the first major resistance level at $3,669.13 before any pullback. We would expect Bitcoin to continue to fall short of $3,700 levels on the day.
Failure to hold onto $3,600 levels could see Bitcoin take that much talked about tumble, with a fall through the first major support level at $3,583.33 likely to bring the second major support level at $3,544.37 into play before any recovery. Sub-$3,500 levels will likely be avoided on the day, barring materially negative news hitting the wires.
Thisarticlewas originally posted on FX Empire
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• AUD/USD Forex Technical Analysis – January 24, 2019 Forecast || Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 10/02/19: Bitcoin Cash ABC Eases Back Bitcoin Cash ABC fell by 1.69% on Saturday. Partially reversing Fridays 13.19% rally, Bitcoin Cash ABC ended the day at $126.09. A bearish start to the day saw Bitcoin Cash ABC fall from an intraday high $128.26 to a morning low $125.86 before finding support. Bitcoin Cash ABC recovered to $128 levels by late morning before sliding to a late afternoon intraday low $124.51. The days major support and resistance levels were left untested through the day, with the days loss reducing the weeks gain to 7.27%. At the time of writing, Bitcoin Cash ABC was down by 0.68% to $125.23. A bearish start to the day saw Bitcoin Cash ABC fall from a morning high $127.16 to a morning low $125.23. The early moves left the days major support and resistance levels untested. For the day ahead, a move back through $126.3 would support a run at the morning high $127.16. A break through the morning high $127.16 would bring $128 levels and the first major resistance level at $128.06 into play. Barring a broad-based crypto rally, we would expect Bitcoin Cash ABC to be pinned back from more material gains. Failure to move back through to $126.3 levels could see Bitcoin Cash ABC take a bigger hit through the day. A fall through to Saturdays low $124.51 would bring the first major support level at $124.31 into play. While we would expect the second major support level at $122.54 to be left untested, a visit to $123 levels could be on the cards in the event of a sell-off. Litecoin Leads the Way Again Litecoin rose by 3.88% on Saturday. Following on from a 29.56% surge on Friday, Litecoin ended the day at $44.2. A bullish morning saw Litecoin rise from an early morning intraday low $41.79 to a late morning intraday high $46.01 before easing back. In the 2 nd half of the day, a late afternoon intraday low $41.75 was as bearish as it got, with Litecoin falling into the red before bouncing back to $44 levels by the days end. In spite of a relatively choppy day, the major support and resistance levels were left untested. The days gain took Litecoin to a 34.4% rise for the current week, Monday through Saturday. At the time of writing, Litecoin was down by 2.04% at $43.3. Litecoin fell from the start of a day morning high $44.35 to a morning low $43.3. The days major support and resistance levels were left untested early on. For the day ahead, a move back through to $44 levels would signal the start of another Litecoin rally. Support from the broader market would be needed, however, for Litecoin to take a run at Saturdays high $46.01 and the days first major resistance level at $46.22. Story continues Failure to move back through to $44 levels could see Litecoin pullback to $42 levels before any recovery. Barring a crypto meltdown, we would expect the first major support level at $41.96 to prevent any heavier losses on the day. Ripple Holds onto $0.31 Levels Ripples XRP slipped by just 0.06% on Saturday, following a 7.61% gain on Friday. Ripples XRP ended the day at $0.31724. Recovering from a late morning low $0.31285, Ripples XRP rose to an early afternoon intraday high $0.32144 before easing back. Falling short of the first major resistance level at $0.3314, Ripples XRP fell to a late afternoon intraday low $0.31201 before rising back to $0.317 levels by the days end. Ripples XRP managed to steer clear of sub-$0.30 levels and the first major support level at $0.2981 through the day. At the time of writing, Ripples XRP was down 1.28% at $0.31319. Tracking the broader market, Ripples XRP fell from a morning high $0.31731 to a morning low $0.31274. Ripples XRP came within range of the first major support level at $0.3124 before moving back through to $0.313 levels. For the day ahead, a move back through to $0.3170 levels would be needed to bring $0.32 levels back into play. We would expect the first major resistance level at $0.3218 to pin Ripples XRP back from more material gains on the day. In the event of a broad-based crypto rally, Fridays high $0.3259 and the second major resistance level at $0.3263 would likely keep $0.33 levels off the table. Failure to move back through to $0.3170 levels could see Ripples XRP fall back deeper into the red. A fall through the first major support level at $0.3124 could bring $0.30 levels and the second major support level at $0.3075 into play before any recovery. We would expect Ripples XRP to avoid sub-$0.30 support levels on the day. Buy & Sell Cryptocurrency Instantly This article was originally posted on FX Empire More From FXEMPIRE: Gold Weekly Price Forecast Gold markets find support S&P 500 Weekly Price Forecast Stock Market Slams into Overhead Resistance USD/JPY Weekly Price Forecast US dollar continues to levitate Bitcoin The Bears Look to Have the Final Say This Week Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 09/02/19 GBP/JPY Weekly Price Forecast British pound chops while finding support View comments || Shut up, Nocoiner: Why We Dont Need to Burn Bitcoin with Fire: bitcoin Over nine months ago, the Berkeley International Computer Science Institute streamed Nicholas Weavers talk entitled Blockchains and Cryptocurrencies: Burn it With Fire. This week, he summarized the argument at the Enigma security conference . Ars Technica decided to cover the Bitcoin-bashing talk . Nicholas Weaver: Most People Have Had Their Hot Wallets Stolen A nocoiner of the highest order, there is nothing about blockchain or cryptocurrencies that Nicholas Weaver likes. According to reporting in Ars Technica, most everyone who has ever held crypto will almost inevitably say their wallet has been stolen. The reader should note that there is no evidence to this claim. Weaver also says that blockchain will not solve any problems in the world. Issues like monetary inflation and opacity in government or finance dont seem to concern him as problems that blockchain can solve. According to Weaver: Read the full story on CCN.com . || South Koreas Coinbin Files for Bankruptcy With $26 Mln Loss, Cites Employee Embezzlement: Coinbin, the South Korean cryptocurrency exchange that took over hacked exchange Youbit, has filed for bankruptcy owing users almost $30 million, correspondence from the company confirmed on Feb. 20. Coinbin, which acquired Youbit in 2017, is closing operations as the result of embezzlement from a senior executive, local media including English-language resource Business Korea subsequently reported. We are preparing to file for bankruptcy due to a rise in debt following an employees embezzlement, the publication quoted CEO Park Chan-kyu as saying. According to available information, the figure in charge of cryptocurrency management is at the center of the scandal, having previously served as CEO of Youbit. The latter ceased to exist in December 2017 after two major hacks made operations no longer possible. The executive, known as Lee, reportedly appropriated the private keys of several hundred Bitcoin (BTC) wallets , while claiming to lose the key for an Ethereum (ETH) wallet containing 100 ETH. The total funds missing currently amount to 29.3 billion won ($26 million), of which 2.3 billion ($2 million) is reported as lost. The revelations come as the cryptocurrency industry is already digesting the fallout from another exchange shutdown, Canadas QuadrigaCX . Currently the focus of legal proceedings and numerous rumors following the death of its CEO in December 2018, Quadriga owes its users around $190 million in crypto and fiat currency . Related Articles: Bitfinexs Stolen Funds Partially Recovered and Returned by US Law Enforcement Cryptopia Wont Resume Trading Until Balances Are Secure, Discord Message Notes Canadian Banks Wary of QuadrigaCX Assets Origins, Cite Money Laundering Concerns FBI Solicits Information From Bitconnect Investors With Voluntary Questionnaire || Elon Musk Jokes about Giving Satoshi a Nobel Prize, Reveals Bitcoin Balance: tesla elon musk bitcoin crypto Wall Street is abuzz with rumors that Apple might dip into its $245 billion war chest to purchase electric vehicle giant Tesla, but all Crypto Twitter wants to talk about is what Elon Musk thinks about bitcoin and its pseudonymous creator. Tesla CEO Doesnt Have Much Crypto, But He Owns Bitcoin Just one day after heaping praise on bitcoin during the latest episode of the ARK Invest podcast, Musk revealed that he still owns a relatively small amount of cryptocurrency. All of it, he said, is denominated in bitcoin. Responding to a report that he had called bitcoin brilliant and said that crypto was a far better way to transfer value than paper money, he stressed that he had not yet made the transition himself: That said, I still only own 0.25 BTC, which a friend sent me several years ago. Dont have any crypto holdings. Read the full story on CCN.com . || Mining Bitcoin or the ‘Crypto-Ruble’ Just Another Form of Counterfeiting, Claims Russian Banking Chief: The head of VTB Bank, a major Russian financial institution that sees the government as its majority shareholder, has compared bitcoin mining with counterfeiting.
Andrei Kostin, who serves as the president and the chairman of the management board of VTB Bank, said Monday during an event that any person who prints digital money to replace Russian Ruble was counterfeiting the state-backed fiat. According to Russian news agencyTASS, the 62-year old banker also declared that he put central bank digital currencies in the same basket of decentralized cryptocurrencies, adding that:
“I’m not a big supporter of crypto-ruble. For me, this is some kind of counterfeiting. A person who sits and mines is the same as a person sitting and printing money.”
The comments followed The Russian Association of Cryptocurrency and Blockchain’sannouncementof launching a state-backed Crypto Ruble by mid-2019. The Putin government had taken those steps to circumvent US economic sanctions. Meanwhile, it had established that Crypto Ruble would be a bitcoin-independent, non-minable asset that would be straightforwardly pegged to the real Ruble, per areportof Forklog, a Russian language bitcoin news agency.
Read the full story onCCN.com. || Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 25/01/19: Bitcoin Cash ABC Hits the Brakes Bitcoin Cash ABC fell by 1.71% on Thursday, partially reversing a 3.59% gain from Wednesday, to end the day at $128.04. A bearish morning saw Bitcoin Cash ABC fall from a start of a day intraday high $130.27 to an early morning intraday low $126.00 before steadying. Falling well short of the days first major resistance level at $134.71, Bitcoin Cash ABC fell through the first major support level at $127.29 in the early hours before finding support. A 2 nd half of a day high $129.13 saw Bitcoin Cash ABC come up short of a recovery to $130 levels by the days end, to trail the top 10 on the day. At the time of writing, Bitcoin Cash ABC was down 0.26% to $127.71, with moves through the early hours seeing Bitcoin Cash ABC fall from a start of a day high $128 to a morning low $127.51 before steadying. The days major support levels were left untested early on. For the day ahead, a move through to $128 levels would support a run back through to $130 levels to bring the days first major resistance level at $130.21 into play before any pullback. Barring a material improvement in sentiment across the broader market later in the day, we dont expect the second major resistance level at $132.37 to be in play on the day. Failure to move back through to $128 levels could see Bitcoin Cash ABC pullback through to $126 levels, bringing the days first major support level at $125.94 into play before any recovery. Heavier losses are not expected barring a broad based sell-off, which would bring $123 levels and the second major support level at $123.83 into play. Litecoin Finds Support Litecoin rose by 2.75% on Thursday, following from a 0.41% gain on Wednesday, to end the day at $32.47. Bearish through the early hours, Litecoin fell through the first major support level at $31.21 to a mid-morning intraday low $31.08 before making a move. Rallying through to the late afternoon, Litecoin broke through the first major resistance level at $32.10 and second major resistance level at $32.59 to strike an intraday high $33.13 before easing back to $32 levels. Story continues At the time of writing, Litecoin was up 0.92% to $32.77, a bullish start to the day seeing Litecoin rise from a morning low $32.47 to a morning high $32.95 before easing back. The days major support and resistance levels were left untested early on. For the day ahead, a move back through the morning high to $33 levels would support a run at the first major resistance level at $33.37 before any pullback. We would expect $34 levels and the second major resistance level at $34.28 to be off the table later in the day, barring a broad based pre-weekend rally that could deliver $35 levels for the bulls. Failure to move back through the morning high $32.95 could see Litecoin hit reverse later in the day, a pullback through the morning low $32.47 to $32.2 levels bringing the days first major support level at $31.32 into play before any recovery. We would expect sub-$31 support levels to be left untested on the day. Ripple Trundles Along Ripples XRP gained 0.89% on Thursday, partially reversing a 0.97% fall from Wednesday, to end the day at $0.32310. Tracking the broader market, Ripples XRP fell to a mid-morning intraday low $0.3180, holding above the days first major support level at $0.3170 before finding support from the broader market. Ripples XRP rallied to a late afternoon intraday high $0.32612, breaking through the first major resistance level at $0.3249 before easing back. At the time of writing, Ripples XRP was down 0.02% to $0.32304, with Ripples XRP rising to an early morning high $0.32467 before hitting reverse. A pullback to a morning low $0.32211 left the major support and resistance levels untested early on. For the day ahead, a hold above $0.322 levels through the morning would support a move back through the morning high $0.32467 to bring the first major resistance level at $0.3268 into play before any pullback. Support from the broader market could deliver a move through to $0.33 levels to test the second major resistance level at $0.3305 before any pullback. Failure to hold above $0.322 levels could see Ripples XRP slide back through the morning low $0.32211 to bring $0.31 levels and the first major support level at $0.3187 into play before any recovery. While we would expect sub-$0.31 support levels to be out of play through the day, a broad based crypto sell-off would bring the second major support level at $0.3143 into play. Buy & Sell Cryptocurrency Instantly This article was originally posted on FX Empire More From FXEMPIRE: GBP/USD Daily Price Forecast Brexit Headlines Continues To Underpin GBP Bulls Bitcoin Sideways Moves Have not Deterred the TRX Bulls Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 25/01/19 The Aussie and the EURO Hit the Brakes as the Pound Makes Its Move E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis January 25, 2019 Forecast Stocks, Crude and Trade Talks Where We Stand Before Next Weeks High-Level Meetings || Malta leads on cryptoassets regulation while EU ponders: By Francesco Guarascio BRUSSELS (Reuters) - As the European Commission ponders whether the European Union needs rules for cryptoassets and trading in virtual currencies, EU states are moving ahead with their own regulations, with the smallest of them, Malta, leading the pack. The risks of investing in the industry were made clear last year when Bitcoin, the most successful cryptocurrency, lost three-quarters of its value from a peak around $20,000 in late 2017. The market capitalization of cryptoassets dropped to $110 billion at the end of January from $830 billion a year earlier. These market developments have occurred in a "legal vacuum", said Robert Ophele, the head of France's financial regulator. Speaking at a financial-technology conference in Brussels, he urged the EU Commission to propose new regulations to address risks. Last month, EU regulators called for new rules to prevent money laundering and protect investors. But the Commission, the sole source of new EU legislation, so far has avoided taking action, fearing it will hamper the nascent industry. "We have to make sure that our financial sector rules do not inadvertently hinder useful innovation," said the financial services commissioner, Valdis Dombrovskis. Brussels was still considering whether EU action was needed, he said. MALTA HUB Individual EU states are moving into the vacuum, despite risks that uncoordinated action could weaken the EU market. The French parliament is passing cryptoassets legislation, and Germany's finance ministry has begun a consultation on a blockchain strategy that will be published before summer. Smaller states are ahead of them. Luxembourg passed its rules this year, and the Baltic countries have long been active in the sector, industry consultant Peter Moricz said. The boldest is Malta, which has set up a broad regulatory framework and aims to become Europe's cryptohub. "We are the first EU jurisdiction to have a complete framework that caters for all key areas of risk: the risks to consumers, market integrity, financial crime and cyber security," Joseph Cuschieri, the head of the Maltese financial regulator, told the Brussels conference. The Mediterranean island is already home to the EU's largest online gambling industry and a large financial-services sector, which have been drawn there by advanced regulation and low taxes. But these successes have partly been marred by foreign investigations of several gambling firms and banks on the island that have exposed weak enforcement by local authorities. "As a result of these failures, we have learnt how to strengthen our supervision," said Christopher Buttigieg, a top supervisor at Malta Financial Services Authority. (Reporting by Francesco Guarascio, editing by Larry King) || Bitcoin Buyers Offered Chance to Make Money and Avoid Big Losses: (Bloomberg) -- Cedric Jeanson has a tempting proposition for investors scared of Bitcoin after it cratered last year: they can benefit from gains in the digital currency, but still get most of their money back if it tumbles.
His firm BitSpread Ltd. is offering what Jeanson says are the first structured products to protect investors’ capital in Bitcoin trades. The two-year contracts shield 85 percent of a buyer’s principal, while giving them 33 percent of any gains in average price. That would have helped buyers when the largest digital currency lost three quarters of its value in 2018.
“We are proposing to limit an investor’s downside, which is a reassurance many people need after last year,’’ said Jeanson, a derivatives veteran who set up his blockchain asset research and advisory firm in 2014. “Investors are interested in this asset class because of its lack of correlation to other markets.”
Bitcoin’s wild ride -- it gained 1,400 percent in 2017, only to plunge in 2018 -- put off many casual buyers and made the tokens palatable only for true believers and those with high pain thresholds. Harnessing some of the gains while limiting losses could be an attractive proposition, Singapore-based Jeanson said by phone.
The products, which are designed for professional investors, are part of a growing suite of crypto derivatives. Bitcoin futures were introduced in late 2017 and a market for bilateral digital currency options has developed in the past six months.
Read more: Crypto Survivors Turn to Derivatives Market for Post-Crash Cash
BitSpread will protect investors’ capital by investing about 80 percent of their funds in JPMorgan Chase & Co. investment-grade bonds, the ex-Nomura Holdings Inc. banker said.
To contact the reporter on this story: Alastair Marsh in London at amarsh25@bloomberg.net
To contact the editors responsible for this story: James Hertling at jhertling@bloomberg.net, Paul Armstrong, Patrick Henry
For more articles like this, please visit us atbloomberg.com
©2019 Bloomberg L.P. || Why Bitcoin Price Barely Moved Following CBOE’s Withdrawal of ETF Proposal: ByCCN.com: On January 23, the Chicago Board Options Exchange (CBOE) and VanEckofficially withdrewtheir Bitcoin exchange-traded fund (ETF) proposal ahead of its February deadline.
Analysts expected a decline in theBitcoin pricefollowing the withdrawal given that the CBOE/VanEck Bitcoin ETF was arguably the most highly anticipated proposal to date.
On CNBC’s ETF Edge, VanEck CEO Jan van Eck stated that the shutdown of the U.S. government forced the institution to pull out its proposal. The lack of personnel at the commission prevented the continuation of discussions on various aspects of the Bitcoin ETF filing.
“We were engaged in discussions with the SEC about the bitcoin-related issues, custody, market manipulation, prices, and that had to stop. And so, instead of trying to slip through or something, we just had the application pulled and we will re-file when the SEC gets going again,” van Ecksaid.
Read the full story onCCN.com
.
[Random Sample of Social Media Buzz (last 60 days)]
【55 Blockchain News】
http://55.com -A global assets trading and tokenization network that allows anyone to trade global quality assets anytime, anywhere!
@coindesk @Cointelegraph @CryptoCoinsNews @BTCTN @newsbtc #bitcoin #Blockchain #blockchainnewspic.twitter.com/O1pXwaFbY2 || Feb 1, 2019 01:27:00 UTC
$3,432 USD
€2,998 EUR
£2,618 GBP
#Bitcoin #BTC || A great article to read And Learn more about $pirl @PirlOfficial!
The team working non stop and community is strong and happy!
Cu pirlians! #crypto #btc #Blockchainhttps://medium.com/the-birb-nest/penguin-fa-pirl-pirl-d289f64c64e4 … || He said from Pasir Ris always got jam and im like??? I know but just drive?? You picked me up already?? Then I said nus btc and he said oh botanics and nus v far apart leh?? Like bitch can you JUST DRIVE || Samsung Galaxy S10 Bitcoin Wallet Leaked by Insider: Is it Official? https://dollardestruction.com/21655/ pic.twitter.com/8ABxsl1Mzc || #10yearchallenge #btc #Bitcoin pic.twitter.com/GiLlaIrpI3 || #how to purchase with bitcoins …http://how-much-should-i-invest-in-ripple_newsbtc.ethcoin.gdn how to buy partial bitcoin || Amazing bitcoin billboard near LAX!
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Register Now & Start Buying & Selling Cryptocurrency
#Crypto #Cryptocurrency #Bitcoin #BTC #Ethereum #ETH #Ripple #XRP #EOS #Stellar #Litecoin #LTC #Cardano #Monero #TRON #IOTA #Dash #Tezospic.twitter.com/6aWS30GoBe || Auer concludes that Bitcoin’s liquidity will fall substantially in the long run in the absence of relevant technological advances. The paper argues that the security of payments is also set to deteriorate as the block rewards are phased out. pic.twitter.com/vJDJJnQi1o || ビットコインの市場株価に、安定株は無い。
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Trend: up || Prices: 3851.05, 3854.79, 3859.58, 3864.42, 3847.18, 3761.56, 3896.38, 3903.94, 3911.48, 3901.13
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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 2020-12-17]
BTC Price: 22805.16, BTC RSI: 76.42
Gold Price: 1887.20, Gold RSI: 58.10
Oil Price: 48.36, Oil RSI: 73.08
[Random Sample of News (last 60 days)]
The Crypto Daily – The Movers and Shakers – November 10th, 2020: Bitcoin, BTC to USD, fell by 1.07% on Monday. Partially reversing a 4.38% rally from Sunday, Bitcoin ended the day at $15,334.5. It was a mixed start to the day. Bitcoin fell to a late morning low $15,182 before making a move. Steering clear of the first major support level at $14,953, Bitcoin rallied to a late morning intraday high $15,844.0. Coming up against the first major resistance level at $15,848, Bitcoin slid to a late afternoon intraday low $14,841.0. Bitcoin fell through the first major support level at $14,953 before a partial recovery to $15,300 levels. The near-term bullish trend remained intact, supported by the latest move through to $15,000 levels. 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 a mixed day on Monday. Polkadot bucked the trend at the start of the week, with a 0.44% gain. It was a bearish day for the rest of the majors. Bitcoin Cash SV and Crypto.com Coin slid by 5.03% and by 4.50% to lead the way down. Bitcoin Cash ABC (-3.38%), Ethereum (-2.16%), and Litecoin (-2.85%) also struggled. Binance Coin (-1.26%), Cardano’s ADA (-0.87%), Chainlink (-1.69%), and Ripple’s XRP (-1.23%) saw relatively modest losses on the day. For the week, the crypto total market cap rose to a Monday high $449.53bn before falling to a Monday low $423.81bn. At the time of writing, the total market cap stood at $443.58bn. Bitcoin’s dominance rose to a Monday high 65.22% before falling to a low 64.70%. At the time of writing, Bitcoin’s dominance stood at 64.87%. This Morning At the time of writing, Bitcoin was down by 0.26% to $15,294.7. A mixed start to the day saw Bitcoin rise to an early morning high $15,350.0 before falling to a low $15,181.0. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a mixed start to the day. Cardano’s ADA (+0.15%), Chainlink (+1.00%), Crypto.com Coin (+1.29%), Ethereum (+0.46%), and Litecoin (+0.19%) found early support. Story continues It was a bearish start for the rest of the majors, however. At the time of writing, Binance Coin was down by 0.38% to lead the way down. For the Bitcoin Day Ahead Bitcoin would need to move back through the pivot level at $15,340 to bring the first major resistance level at $15,839 into play. Support from the broader market would be needed for Bitcoin to break back through to $15,800 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 $16,000 before any pullback. The second major resistance level sits at $16,343. Failure to move back through the $15,340 pivot would bring the first major support level at $14,836 into play. Barring an extended crypto sell-off, Bitcoin should steer well clear of sub-$14,500 levels. The second major support level sits at $14,337. This article was originally posted on FX Empire More From FXEMPIRE: U.S. Dollar Index (DX) Futures Technical Analysis – Momentum Shift Targets 93.275 Retracement Level Crude Oil Price Forecast – Crude Oil Markets Rally Significantly COVID-19 – Pfizer Leads the Race to a COVID-19 Vaccine Gold Price Prediction – Prices Tumble as Yields Soar Following Vaccine Announcment Oil Price Fundamental Daily Forecast – Vaccine News Fuels Massive Short-Covering Rally US Stocks Surge on Promising Vaccine News, but Give Back Most Gains On Election ‘Irregularities’ Concerns || Bitcoin climbs towards all-time high after topping $19,000: By Saikat Chatterjee and Tom Wilson
LONDON (Reuters) - Bitcoin moved to within a whisker of its all-time high on Tuesday, after hitting $19,000 for the first time in nearly three years.
The world's most popular cryptocurrency was last up 4.8% at $19,225, just shy of its all-time record of $19,666 hit in December 2017. Bitcoin has gained around 25% in the last two weeks alone, and is up around 160% this year.
Fuelling its rally have been demand for riskier assets amid unprecedented stimulus programmes to counter the COVID-19 hit; hunger for assets perceived as resistant to inflation; and expectations cryptocurrencies will win wider acceptance as a method of payments.
Bitcoin's 12-year history has been peppered with vertiginous gains and equally sharp drops. Its markets and price discovery is highly opaque compared with traditional assets such as stocks or bonds,
"My base-case scenario is that we will break the 2017 high and hold above it," said Fawad Razaqzada, an analyst at FX brokerage Think Markets. "But if you get an immediate rejection above the all-time, that would raise the possibility of a correction."
Smaller digital currencies such as ethereum and XRP - which often move in tandem with bitcoin - took a breather after gaining sharply in recent days.
Crypto markets have matured since bitcoin's December 2017 peak, attracting a greater number of large investors such as family offices and hedge funds.
Its 2020 gains have prompted some investors to claim the cryptocurrency could more than quintuple in price to as high as $100,000 in a year, drawing eye rolls from sceptics who say it is a purely speculative asset.
Graphic: Bitcoin and gold - https://fingfx.thomsonreuters.com/gfx/mkt/dgkplakwbvb/bitcoin.PNG
Analysts say bitcoin's limited supply of 21 million makes it a good hedge against inflation. Some investors think the value of traditional currencies will fall as governments and central banks unleash massive stimulus packages to support economies hit by COVID-19.
Yet bitcoin's gains have continued even as gold - traditionally a go-to hedge against inflation - has slipped, with a resurgent pandemic making global growth and inflation recovery a more distant prospect.
Gold has shed 3.6% this month, versus bitcoin's 40% gain.
Bullish investors cited expectations that bitcoin would achieve mass use as a means of payment - something it has so far failed to do - as a reason for the divergence.
Mainstream companies such as PayPal have embraced cryptocurrencies, sparking hopes bitcoin would become widely used and thus more valuable.
"With BTC one is also long a global currency which is now not just a easily accessible store of value but also a convenient payment mechanism," said Michael Hall at Nickel Digital Asset Management, a crypto fund in London.
(Reporting by Saikat Chatterjee; Additional reporting by Tom Wilson; Editing by Thyagaraju Adinarayan and Alex Richardson) || Lightning Operators Are Bracing for a Bitcoin Bull Run: With the price of bitcoin jumping tofresh 2020 highslast month, those running the digital currency’s underlying infrastructure are pondering the consequences. Namely, the routing node operators at the heart of Bitcoin’s Lightning Network are busily bracing for the curious new users that usually come with a bull run.
Bitcoin’sLightning Networkpromises faster and cheaper payments, without the occasionally crazy fees associated with the underlying Bitcoin network.
Read more:What Is Bitcoin’s Lightning Network?
Related:Someone Just Paid a $9,000 Fee for a $120 DeFi Transaction
The platform is still new, in Bitcoin time, having launched for real payments in 2018. As such, it hasits kinks. Developers still call using it “reckless,” because it’s new enough that it may be hiding bugs that could lead to loss of funds. Would the network be able to handle an influx of new users suddenly jumping to the Lightning Network?
Whether it can or not, those who run routing nodes are busily preparing for such a scenario.
Bitcoin Lightning “routing” nodes are the ones tasked with passing on payments through the network, until they reach their destination. Many operators of Lightning routing nodes are beefing up their nodes to make sure they can help to support a sudden increase in users.
But first, why would Bitcoin users move to Lightning?
Related:Bitcoin’s Lightning Network Is Getting a Marketplace for Payment Channel Liquidity
One word: Fees.Bitcoinfees arenow higherthan they’ve been in more than two years, reaching an average of$13 per transaction. With Lightning, users can avoid these fees.
“Higher bitcoin prices go hand in hand with higher transaction fees for on-chain payments,” Tudor Iova, Lightning routing node operator and founder of BTCfactura, told CoinDesk. He also noted he has seen more users tapping Lightning as fees have risen.
Read more:Bitcoin Transaction Fees Rise to 28-Month High as Hashrate Drops Amid Price Rally
In contrast, Lightning payments usually cost less than a cent, making the payment method more and more attractive as fees rise.
That said, setting up a Lightning channel – a means for sending Lightning payments – requires a Bitcoin transaction. It’s kind of like a one-time setup fee for creating a Lightning account.
Say Alice puts $50 into a Lightning account and pays a $3 fee. Once that’s done, she can make as many transactions as she needs with that $50 – like 16 transactions for 16 cups of coffee.
With the Lightning Network, fees for each transaction will be negligible, averaging roughly a satoshi, worth a fraction of a cent.
Channels are the lifeblood of the Lightning Network. They’re also the means by which Lightning routing nodes pass along payments to others.
But, again, creating such channels requires on-chain transactions, which can be expensive when the network is congested. More transactions in the Bitcoin “mempool” – a waiting area for transactions – means higher fees.
Lightning routers are actively scouting out the best times to open channels. “We’re all watching the mempool very closely to find opportunities to open Lightning channels inexpensively as the extra space in blocks dries up completely,” said pseudonymous Lightning routing node operator Jestopher.
Jestopher expects the block space to become more scarce when (and if) a bull run commences. This happened last week, for instance, after the price shot up.
Another point routers are keeping in mind is that fees are usually lower on the weekends, when users are sending fewer transactions.
Lightning routers are busy learning and researching the best ways to tackle these issues, so that if a bunch of new users flock to the network, payments will remain smooth.
“What we are doing, and suggesting our users do, too, is to opening channels on weekends, when the fees peak off. Later, during the week, you can use Lightning payments and avoid horrendous [fees]. Else you can end up paying a fee that is higher than the price of the goods purchased,” Iova said.
Routing nodes are also open channels with a variety of peers designed to reduce failed transactions and to make the overall network more robust so payments don’t fail for users.
“We are preparing ourselves for a bull run by opening new channels and improving our Lightning node connectivity to other nodes, in order to make it possible for users to use our node Transylvania for payments and routing, when necessary,” Iova said.
The other trick is that once a Lightning channel is open, that’s not necessarily the end of the struggle. “Lightning requires lots of liquidity management, which is unfamiliar to most folks outside of Wall Street,” Jestopher said.
In short, it’s not enough to just put money into the Lightning Network; the money needs to be moved to the right spots in order for a routing node to build a path that can be used to send payments for users. Not to mention, every time a payment is made by a routing node, this liquidity is moved around. So, routing nodes need to constantly be managing where the coins are.
In fact, there’s an entire Telegram channel “LN mutual balanced channels” devoted to helping fellow Lightning users find peers and liquidity for their channels. Jestopher recently created a poll there asking fellow routing-node operators what they’re doing to prepare for a bull run. The most votes went to “consolidating liquidity into fewer, larger channels” and “opening channels to routing peers” to build more connections with the network.
Read more:Bitcoin’s Lightning Network Is Getting a Marketplace for Payment Channel Liquidity
“I think the shared goal is to find out how to operate routing nodes in a sustainable way where we don’t have to clog up the mempool when it gets expensive,” Jestopher said, pointing toLightning Loopand ThunderHub as helpful tools for boosting liquidity where needed.
Startup Lightning Labs alsoreleaseda new marketplace Monday for buying and selling liquidity, an innovative way of addressing this issue.
Even if many Lightning routers are preparing, some think the network is already equipped for more action.
“I think the Lightning Network is already capable enough to support thousands of new users,” Bitfinex CTO Paolo Ardoino told CoinDesk. The cryptocurrency exchange runs both the second and third largest Lightning routing nodes on the network and was one of the first exchanges to support Lightning payments.
“Spinning up new nodes and interconnecting them with others is not a very complex job, so I believe that with the growth of the user base we’ll definitely see a strengthening of the Lightning global network. I think our Lightning Network node and in general, the Lightning Network global network of routing nodes will be able to cope with an increased demand,” Ardoino added.
Iova had a similar view.
“I think the Lightning infrastructure is a bit underestimated, and many people think it can’t cope with the traffic, [it’s] not reliable enough or it can handle only micropayments. Well, things are changing in this part of the network,” he said, pointing to public Lightning networkdatashowing that 2020 brought in a 50% increase in the number of nodes.
• Lightning Operators Are Bracing for a Bitcoin Bull Run
• Lightning Operators Are Bracing for a Bitcoin Bull Run || Money Reimagined: Bitcoin’s Tug of War as Wall Street Moves In: A tug of war over Bitcoin’s future is becoming more ferocious.
This battle, pitting corporate interests seeking to profit from the Bitcoin system’s disruptive potential against an anti-corporatist dream for a human-first financial system that bypasses institutional middlemen, has been in play for some time. But withbitcoin’slatest price rally, the fight has intensified.
Now, Wall Street’s heavyweights are moving in. And to many who hail from Bitcoin’s “cypherpunk” roots, those guys are the enemy.
Related:Crypto Long & Short: Bitcoin's Relationship With Gold Is More Complicated Than It Looks
The engagement ofFidelity,Citibank,BlackRockand nowMassMutualneed not be the death knell for a humanist Bitcoin dream. There’s still a pathway to a fairer, more open, inclusive financial model, even with those institutions increasingly investing in and engaging with bitcoin services. But the route to that idealized future is less direct and, inevitably, involves more intense competition.
It’s also not clear whether these competing visions can coexist in the long run. Either way, in the medium term – which may last decades – the tensions will persist and intensify. Who ultimately wins, and how, is what matters.
To be clear, many long-term enthusiasts for bitcoin are cheering the arrival of these big names.
Partly that’s because their participation has boosted the cryptocurrency’s price, which keeps bitcoin HODLers happy. It’s also because these newcomers are finally comprehending the core value proposition for investing in bitcoin as a digitally scarce store of value. That offers vindication for all who’ve been telling this story for the better part of a decade.
Related:Saylor Hits Back at Claims MicroStrategy's Bitcoin Trove Makes It an ETF
But there’s still an inherent conflict between the interests of regulated, compliance-conscious institutions, which will support the imposition of regulations and controls to ease their own participation in it, and those that see such rules and constraints as exclusionary barriers to entry for a wider swath of humanity.
A lightning rod here is KYC and AML, the “know-your-customer” and “anti-money laundering” rules that compel banks to collect identifying records for all their account holders.
This system means everywhere that Bitcoin touches the legacy financial system, which it will increasingly do as more big name companies and financial institutions are drawn to it, there is growing pressure for crypto service providers to impose KYC and, in turn to avoid dealing with others who don’t. (See: thecrypto “Travel Rule.”).
The problem is not only that KYC runs counter to the cypherpunk ethos of privacy. As we discussed ina recent Money Reimagined podcast, this requirement can seriously hurt the goals of financial inclusion and innovation.
Raoul Pal, CEO of RealVision and influential global macro investor, found himself in the middle of this fight recently after hetweetedto bitcoiners that KYC is in their interest because it will bring institutional money into the asset and boost its value. As someone with an account bearing the name SexyWebCamPro100x noted in one of more than 700 replies to that remark, the tweet begged fora meme of someone kicking a hornet’s nest.
Pal is an influential thinker about Bitcoin’s place in the future financial system. So we invited him onto this week’s “Money Reimagined” podcast to discuss his brawl with Crypto Twitter. For balance, we also invited CoinDesk columnist Jill Carlson, who, among other roles, is a founder of the Open Money Initiative, which focuses on boosting financial access and economic freedom for underserved communities.
Pal offered a nuanced explanation of his position. He said while his point was partly about allowing both bitcoin HODLers and institutions to “get rich,” it was also that for the Bitcoin system to be a transformative force it needs the “network effect” of more money coming into the space, which in turn requires institution-friendly regulation.
“For people to realize their ambitions that it’s a stateless money … for it to be adopted by people who live within the confines of a sovereign state, unfortunately it will have to be regulated and there’s almost nothing we can do about it,” Pal said.
Some might see a contradiction: for Bitcoin to realize its power as a “stateless” network, the state must exercise more control over it. But Pal’s point is about sequencing. He says we need to first go through a process of official accommodation within the existing system to advance Bitcoin’s journey along“Metcalfe’s Law.”Once it becomes a ubiquitous network, then it is in a position to properly challenge that system.
Indeed, as Carlson pointed out, the positive thing, for those who believe in Bitcoin’s disruptive potential, is that “you’re not going to implement KYC and AML at the protocol level.” Since “there is nothing inherent to Bitcoin that can be regulated, enforced or controlled in that way,“ it can at that level always resist official coercion.
But she also worried that the ever-growing encroachment of compliance requirements on applications builton topof that protocol impedes access to it among marginalized and financially excluded people.
Carlson cited how LocalBitcoins, a peer-to-peer exchange network that was once a “gateway to economic freedom” in places that impose capital controls and other forms of monetary repression, has “increasingly come under scrutiny and has to institute more and more KYC and AML standards and protocols.” She added, “That’s problematic where we are talking about people who don’t have any identity or are unbanked and are refugees and so forth.”
So, where does this go?
Following Pal’s trajectory, we must first see expanded ownership of bitcoin as an asset, during which its price will drive dramatically higher before eventually reaching stability. Only then can it accommodate a broader set of use cases.
One idea is that universal acceptance will then provide network effect benefits to “layer 2” solutions such asLightning, which could enable lightweight, low-cost transactions for all.
Another is that universal bitcoin acceptance as a store-of-value lets it evolve into a programmable social reserve asset, which then becomes a form of smart, automatically executable collateral upon which innovative new forms of borrowing, lending and insurance are built. In theory, it could replace fiat sovereign assets such as U.S. Treasury notes and bonds as the building block for a global financial system, one that would presumably be more decentralized, with less friction and cost, more innovation and greater accessibility.
But does that mean those seeking positive, humanistic change must just wait their turn? Must they first let Wall Street have its fill? And what guarantee is there that just because it becomes an institutionalized asset it also becomes a tool for payments and financial access?
It’s hard to say. As Pal noted in our podcast interview, “The reality is that what we want [Bitcoin] to be, as individuals, is irrelevant. It’s a network that lives and breathes and does its thing.”
All that’s true. But individuals also have the capacity to organize and, for better or worse, the capacity to lobby governments to introduce rules that influence the evolution of these networked systems.
Which is why this tug of war must continue.
LET’S BE FRANC.The Swiss National Bank’s straightlaced central bankers run a predictable, transparent and generally respected monetary policy. So they might chafe at a comparison to China’s policymakers, who oversee a rather opaque, government-mandated system of capital controls and centralized interest rates. But according tothis Bloomberg article, it looks as if Switzerland could earn the same “currency manipulator” label that the U.S. Treasury Department put on China in a politically charged move last year. In theory, the U.S. could consider sanctions if a country is deemed to be using its currency for unfair trade advantages. Switzerland has been actively intervening to hold down the value of the Swiss franc since 2011, when the euro crisis prompted huge inflows of safe haven-seeking money into the country’s economy.
The U.S. would be more within its rights to call Switzerland a currency manipulator than it was with China. (The Treasury Dept. removed the designation fromChina earlier this year.) Switzerland is explicitly using its money-printing powers to alter the value of its currency with the goal of making its businesses more competitive. China used to do the same thing a decade ago. But at the time of the Treasury designation it was going the other way: intervening to strengthen the yuan against the dollar. Still, you can hardly blame Switzerland from trying to inculcate its relatively small economy from forces outside of its control in the much larger currency zone across its borders.
The U.S. may well be sympathetic to that argument, and would refrain from applying sanctions. But, as the article points out, the risk to the Swiss National Bank is that currency speculators would see the designation as an excuse to test the central bank’s resolve. Might this lead to an even bigger influx of traders looking to push the Swiss franc higher on the bet that a now politically anxious SNB will hesitate to buy euros or dollars to stop the franc from appreciating? Maybe. But there’s a bigger picture problem here, one that plays into our future of money thesis.
The SNB’s problems in managing a currency speaks to a wider set of risks where investors are growing nervous about expansionary monetary policy and growing fiscal debts within the worst global economic environment since the Great Depression. Switzerland’s experience offers lessons, where letter-of-the-law U.S. policymaking could provoke unforeseen consequences in currency markets. Were this to play out on a more global scale, with bigger and more numerous economies involved, we could have ourselves an international currency war. And in that environment, the only safe place to go is into an apolitical, independent store of value. Historically, that role has belonged to gold. Now, many are arguing, it’s bitcoin’s turn.
AIRBNBUBBLE.Speaking of lessons, what can we learn from the remarkable turnaround at Airbnb? The home rental business looked doomed as travel ground to a halt in March when the reality of the COVID-19 pandemic set in. Yet, here it is, nine months later, launching an initial public offering that initially valued the company at $47 billion but saw it rise to $100 billion by the end of its first day of trading on Thursday. Duringa live CNN interviewthat was timed for the opening of the stock market, CEO Brian Chesky heard for the first time that the shares’ opening price was $139, almost twice the deal’s $68 level. He looked stunned. “I don’t know what to say,” he said.
Good answer. Because it doesn’t make a lot of rational sense in terms of valuation. (Airbnb’s net loss for the first nine months of the year was $697 million.) To me, this tells us two things: 1) “QE infinity” by the Federal Reserve has created so much liquidity in the hands of hedge funds and other institutions that they’ll chase whatever yield they can, and 2) they’ll deploy that cash whenever they find the right narrative.
It’s kind of a moot point whether Airbnb is truly worth the $100.7 billion market capitalization at which it closed the day. (AsThe Wall Street Journal noted,that’s a figure “greater than the combined market value of Marriott International Inc., Hilton Worldwide Holdings Inc. and Hyatt Hotels Corp.”) What matters is that cash-flush investors found what they were looking for: a good story.
Chesky took some smart moves to, first, mitigate the pandemic’s threat to its business and then, second, discover new opportunities to provide services to people looking to escape crowded, locked-down cities. But what matters is how that story of recovery from a bad situation, a storylaid out in this WSJ video, plays out as an idea more than whether it equates to real projected value over time.
As we’ve noted, elsewhere, stories matter. They especially matter when there’s lots of unspent money looking for a good one.
How FinCEN Became a Honeypot for Sensitive Personal Data. CoinDesk’s Benjamin Powers goes digging, with experts, lawyers and, repeatedly, with FinCEN itself to find out how the powerful financial crimes enforcement network manages storage of the reams of “suspicious activity reports” it receives from banks. No one was able to give a straight answer. FinCEN, as Ben puts it, has become a honeypot of super-sensitive data.
SEC Commissioner Hester Peirce on a Bitcoin ETF, Custody Rules and What’s Next for the SEC. The “Crypto Mom” of the SEC confirmed she’s a straight-talking, pro-crypto maverick. When Nathaniel Whittemore asked, “When bitcoin ETF?” during his “Breakdown” podcast, Peirce replied: “The standard that we set out to approve a bitcoin exchange-traded product is one that’s not consistent with what we’ve done in the past [and] is not consistent with our statutory guidelines for what we are supposed to do. You’ve got to look at these on their facts and circumstances, but I don’t understand why we don’t already have one.”
Ethereum Far Outpaces Bitcoin in Developer Activity in 2020: Electric Capital Report. Developer activity is a vital metric for assessing the value of a network. So it’s really significant that by far the highest engagement among blockchains is found with Ethereum. Per an article on Electric Capital’s annual developer report by Brady Dale, Ethereum’s active developer count stood at 2,300 in the third quarter, compared with second-place Bitcoin’s number of 400. Now, the comparison is a bit apples to oranges because Ethereum is a multi-use case platform whereas Bitcoin is mostly a one-trick pony product, a currency. But there can be no doubt that for all its scaling challenges, Ethereum commands a great deal of enthusiasm among software developers. That, in itself, is cause for confidence.
Bitcoin Dissidents: Those Who Need It Most. Out of a really impressive array of profiles in 2020’s “Most Influential” list, I’m choosing to highlight just this one by Anna Baydakova. Unlike the others from this year’s annual selection, it doesn’t focus on a single person but on a class of person, a far-flung international cohort: that of the activist. This was the year in which bitcoin’s role as an instrument of freedom for protestors and other change agents from Lagos to Minsk was brought home. There really is no better expression of its potential.
• Money Reimagined: Bitcoin’s Tug of War as Wall Street Moves In
• Money Reimagined: Bitcoin’s Tug of War as Wall Street Moves In || Market Wrap: Bitcoin Falls to $12.7K as Global Equities Falter; Ethereum Fees Continue to Drop: Bitcoin’s price fell Monday on larger macroeconomic concerns while lower Ethereum fees benefit hardcore DeFi users. Bitcoin (BTC) trading around $13,011 as of 20:00 UTC (4 p.m. ET). Slipping 0.33% over the previous 24 hours. Bitcoin’s 24-hour range: $12,773-$13,250 BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians. Bitcoin’s price was riding high Monday, going up to $13,250 on spot exchanges like Bitstamp before dropping as low as $12,773 around 17:00 UTC (1 p.m. ET). John Willock, CEO of crypto liquidity provider Tritum, said the bitcoin market can stay near its current price point, although some traders participated in profit-taking Monday. Related: 4 Bitcoin Lightning Network Vulnerabilities That Haven’t Been Exploited (Yet) “I think that it is possible to keep around $13,000 for the short term,” said Willock. “There will likely be some traders looking to close out longs from the recent run-up that might cause a minor retrenchment,” he added. However, Consantin Kogan, a partner at crypto fund of funds BitBull Capital, said bitcoin had positive momentum going for it before its abrupt drop in price, and that more is to come. “We must take into account that a correction is already brewing,” he said.“I think it will happen this week.” Major global stock indices are also down Monday amid COVID-19 uncertainty. The Nikkei 225 in Asia closed flat, in the red 0.09% as fears of tighter coronavirus restrictions globally left investors uncertain . The FTSE 100 ended the day slipping 1.6% as growing coronavirus cases in Europe led investors to hit the sell button . In the United States the S&P 500 fell 2.2% as coronavirus infection counts increase and a possible government stimulus package is in limbo . “When macro issues happen, it affects the entire market and not just one asset class,” said Andrew Tu, an executive at quant trading firm Efficient Frontier. “Hopes for stimulus are dimming while coronavirus cases are ticking upwards in America and around the world. This is causing countries to shut down things again, which will cause the economy to contract further.” Story continues Related: How Financial Advisors Should Think About Bitcoin with Morgen Rochard Read More: Marathon Purchases Additional 10,000 S-19 Pro Miners From Bitmain While bitcoin has dipped when equities slump of late, the bellwether of cryptocurrency has performed much, much better than stocks over the balance of 2020. Despite the price drop Monday, the bitcoin derivatives market is still signaling bullishness, according to Cindy Leow, partner at multi-strategy crypto firm 256 Capital. “The market sentiment is starting to grow more exuberant with call options with a $50,000 strike by end of year being listed on Deribit, and futures are starting to heat up,” Leow said. Indeed, funding rates on futures are still mostly positive on futures exchanges, which means long-oriented traders continue to pay for leverage liquidity to make bullish bets. Ether fees keep dropping Ether (ETH), the second-largest cryptocurrency by market capitalization, was down Monday trading around $391 and slipping 4% in 24 hours as of 20:00 UTC (4:00 p.m. ET). Read More: $24M Attack Triggers $570M ‘Bank Run’ in Latest DeFi Exploit On Saturday, Oct. 24, the average daily network fees on Ethereum hit 0.00223399 ETH, a low not seen since July 12 and beating the previous October 17 low . Ethereum network fees hit a 2020 high as recently as September, and a record $166 million was paid out to miners during that month . Yield farmer “devops199fan”, a longtime active participant finding profit opportunities in decentralized finance, or DeFi, said he expects more positive expected volume, or EV, with fees dropping. “I actually think this is good for yield farming,” he told CoinDesk, “because it means more opportunities are positive EV since the fees are lower.” Other markets Digital assets on the CoinDesk 20 are mostly red Monday. Notable winners as of 20:00 UTC (4:00 p.m. ET): monero (XMR) + 0.63% Notable losers: orchid (OXT) – 6.6% bitcoin sv (BSV) – 5.4% bitcoin cash (BCH) – 4.8% Read More: Monero Reaches 2-Year High, Taking YTD Gain to 200% Commodities: Oil was down 3%. Price per barrel of West Texas Intermediate crude: $38.51. Gold was flat, in the green 0.05% and at $1,901 as of press time. Treasurys: U.S. Treasury bond yields fell Monday. Yields, which move in the opposite direction as price, were down most on the two-year bond, dipping to 0.147 and in the red 8.9%. Related Stories Market Wrap: Bitcoin Falls to $12.7K as Global Equities Falter; Ethereum Fees Continue to Drop Market Wrap: Bitcoin Falls to $12.7K as Global Equities Falter; Ethereum Fees Continue to Drop || First Mover: Bitcoin ‘Rich List’ Grows as Whales HODL and Price Retakes $18K: Bitcoin reached fresh 35-month highs above $18,400 during the European trading hours. The cryptocurrency has failed to keep gains above $18,000 in the previous two trading days. It will be interesting to see if prices establish a foothold above that level on Friday. “The market showed a lot of resilience and dip buying interest to shake off any immediate questions about the sustainability of the recent upside. So much so, that bitcoin has moved back above the $18,000 level and remains on track to retest the highs from earlier on in the week,” Denis Vinokourov, head of research at the London-based prime brokerage Bequant said. Other cryptocurrencies also rallied, with ether penetrating the psychological hurdle of $500 for the first time since July 2018. Related: Market Wrap: Bitcoin Hits $18.8K as Total Crypto Locked in DeFi Passes $14B In traditional markets, European stocks advanced, ignoring the fading prospect of additional U.S. fiscal stimulus and rising coronavirus crises. U.S. stock futures, however, dropped and gold eked out gains as the Treasury secretary announced plans to let several of Federal Reserve’s emergency lending programs expire on Dec. 31. Market moves Bitcoin has climbed for seven straight weeks, the longest streak since early 2017, when prices began their push toward the all-time-high near $20,000 in December of that year. And crypto traders are wondering how long this latest rally can last . The move higher started in early October when prices were around $10,700, and bitcoin is now changing hands around $18,000. On a year-to-date basis, the cryptocurrency has gained an astounding 150%, the most since the 14-fold gains witnessed in 2017. The ascent has been so rapid and powerful that analysts are starting to use terms like “parabolic,” where increases turn exponential. Related: 10 Metrics Where Bitcoin Has Already Hit New All-Time Highs “Bitcoin’s recent continuous uptrend displays stark similarities to the 2017 bull run, where a parabolic trend took it up to $20,000,” Lennard Neo, head of research for the cryptocurrency-focused structured-products firm Stack Funds, wrote Thursday in a weekly report . Story continues For clues on what comes next, some cryptocurrency analysts are looking to data extracted from the blockchain, making inferences about what types of buyers are coming into the market, and who’s selling, if anyone. Those indicators appear to show just how few investors are willing to part with their bitcoin, even with signs mounting that a growing number of big institutional fund managers from traditional markets are seduced by the outsize gains, during a year when few other trades appear to be producing big wins. The Standard & Poor’s 500 Index of large U.S. stocks is up 11% this year, and fixed-income returns are hard to come by, with 10-year Treasury notes yielding less than 1%. “Bitcoin’s price is rising because demand for [b]itcoin is increasing at a time when there’s relatively few bitcoin available to buy,” the blockchain data firm Chainalysis wrote Thursday in a report. The firm produced a chart tracking what appear to be “investor-held” wallets – those whose coins rarely if ever move – versus “trader-held” wallets, where sales take place more frequently. The number of bitcoin in trader-held wallets, or those theoretically more likely to take profits as prices rise, has declined this year. The amount of investor-held bitcoin, meanwhile, has risen steadily. Another blockchain data firm, CryptoQuant , is tracking bitcoin “whales” – those accounts big enough to send a giant sell order to an exchange, typically swamping buy orders from smaller traders. The “exchange whale ratio,” calculated by dividing the value of the largest 10 deposits on exchanges by the total amount of deposits, is currently below the 90% level, which would signal an extreme likelihood that a big price drop is looming. The gauge currently sits around 85%, where “the chance of prices continuing to rise is high,” CryptoQuant wrote Thursday in an email. “Looking at the movement of whales, it appears that the rise in prices will continue,” according to the report. Hong Fang, CEO of the San Francisco-based crypto exchange OKCoin, wrote Thursday in an op-ed for CoinDesk Opinion that “the burning question is whether bitcoin is becoming overpriced.” She argued that it’s not unreasonable to expect a price around $100,000 next year, assuming 1%-2% of total U.S. household wealth of $112 trillion gets allocated to bitcoin. “This is a timing risk,” she wrote. “It is quite possible that it may take much longer than expected for bitcoin to go mainstream.” The whales represent a shorter-term threat. If bitcoin continues its parabolic rise, they might come splashing around. – Bradley Keoun Bitcoin watch Bitcoin’s rich list, or the number of addresses holding at least 1,000 BTC, continues to rise along with the price, suggesting increased interest from institutions and high-net-worth investors. The metric recently reached a record high of 2,237, marking a 5.6% increase on a year-to-date basis, according to data source Glassnode. The rich list has grown by over 2.5% alongside bitcoin’s rice from $10,000 to $18,000 seen in the past six weeks. A single person can hold multiple addresses. Crypto exchanges also store coins belonging to traders in multiple addresses. As such, the rich list is not an accurate metric of increased institutional participation or user adoption. That said, there is strong reason to believe the recent rise in the number of large addresses is the result of influx of high-net-worth individuals. Several public companies such as MicroStrategy and Square have made a foray into the bitcoin market in the past eight weeks or so. With strong hands backing the price rally, the cryptocurrency looks set to challenge record highs before the year-end, as anticipated by some analysts. What’s hot OK Group CEO Mingxing “Star” Xu resurfaces from police detention as OKEx’s mystery key holder also returns, and crypto exchange signals it will soon end the suspension of customer withdrawals; exchange token OKB jumps 23% in price ( CoinDesk ) Ether trades above $500 for first time since July 2018 ( CoinDesk ) Financial Times editorial board says bitcoin’s recently rally has “happened alongside other risk assets,” and the “main factor” in the cryptocurrency’s rise is “its potential for more mainstream adoption beyond hobbyists and speculators” ( Financial Times ) Goldman Sachs expects 1B users of digital yuan within Chinese CBDC’s first decade ( CoinDesk ) Bitcoin options investors are starting to hedge against potential price pullback ( CoinDesk ) Majority of bitcoin hashrate signals support for Taproot scaling, privacy upgrade ( CoinDesk ) Analogs The latest on the economy and traditional finance China borrows $4.7B in European debt sale, paying negative interest rates for first time ( WSJ ) More Americans filing for unemployment assistance, at 742K last week, first increase since October ( WSJ ) U.S. Treasury Secretary Mnuchin asks Federal Reserve to return all unused coronavirus relief funds, and Fed issues statement saying it “would prefer” that the emergency programs “continue to serve their important role as a backstop” ( Politico via Yahoo Finance ) Venezuelan opposition fights creditors for control of billions of dollars in global assets ( WSJ ) $6 billion in bond sales have been canceled across mainland China as fear of mass corporate bond defaults have forced many to cancel new issuances ( Nikkei Asian Review ) U.S. President Donald Trump, in midst of ongoing battle to dispute election results, is set to meet Chinese President Xi Jinping Friday at a virtual summit of Asia Pacific leaders to discuss economic recovery ( Reuters ) Tweet of the day Related Stories First Mover: Bitcoin ‘Rich List’ Grows as Whales HODL and Price Retakes $18K First Mover: Bitcoin ‘Rich List’ Grows as Whales HODL and Price Retakes $18K || Latin American Bitcoin & Blockchain Conference Gathers Industry Leaders for One-of-a-Kind Digital Experience December 7-12: LABITCONF speakers include Binance CEO Changpeng Zhao, Keiser Report’s Max Keiser and Stacey Herbert, and Bitcoin developer and entrepreneur Jameson Lopp LATIN AMERICA, Nov. 12, 2020 (GLOBE NEWSWIRE) -- ( via Blockchain Wire ) - The Latin American Bitcoin & Blockchain Conference (LABITCONF), the longest running bitcoin and blockchain event in the region, today announced its 8th annual event, LABITCONF 2020, will be held on December 7-12, 2020. The event will replicate the enormous success of previous years with a one-of-a-kind digital experience featuring key international industry players represented for the first time in Motion Capture 3D. Attendees are invited to pre-register for free on the event page . LABITCONF 2020 Key Speakers Include: Changpeng Zhao “CZ” - Founder and CEO of Binance, the world's leading cryptocurrency exchange Max Keiser - Co-Host and Producer of Keiser Report, Founder of Bitcoin Capital & Heisenberg Capital Stacy Herbert - American producer and writer, Bitcoin enthusiast, and Co-Host of Keiser Report Jameson Lopp - Bitcoin Developer, Co-Founder and CTO of Casa, Cypherpunk, Advisor at INX, Editor of BTC Times, and contributor to the New York Times Jimmy Song - Bitcoin educator, developer, and entrepreneur, lecturer and author of Programming Bitcoin and The Little Bitcoin Book Giacomo Zucco - Bitcoin maximalist and educator, Bitcoin-related tech startup entrepreneur, and CEO of BlockchainLabit Alakanani Itireleng - Leads the promotion of Bitcoin from Botswana to help the unbanked in Africa, founder of SatoshiCentre LABITCONF’s new experience will take place in a hybrid digital format that will combine animated videos, roundtables and live streaming presentations with blockchain industry leaders, as well as networking opportunities. Unfolding in three hours each day, sessions will tackle important topics in the global crypto ecosystem, and will be offered in Spanish and English. Attendees will learn the basic fundamentals and the latest innovations in decentralized technologies. Story continues “In a world where virtual communication is our main connection, LABITCONF will enrich the experience through new formats of interaction and exchange with those who are at the forefront of this industry,” said Rodolfo Andragnes, LABITCONF Chief General Coordinator. LABITCONF invites all public and private institutions, investors, entrepreneurs, and the general public interested in the technical, political, and legal foundations of blockchain technology to attend. The event will explore the impact that cryptocurrencies have on the Latin American and global scene, and their potential for social and financial transformation. Complimentary pre-registration is available here: www.labitconf.com . For more information, follow @LABITCONF on social media and use the hashtag #LABITCONF2020 on Twitter. About LABITCONF Now in its 8th year, the "Latin American Bitcoin & Blockchain Conference" (LABITCONF), is the oldest and most relevant blockchain event in the region. Year after year 90+ international speakers share their knowledge with attendees from different industries with entrepreneurs and investors from Oceania, Asia and Europe. This non-profit event is organized annually in different Latin American countries, with the aim of making visible the diverse trajectories and initiatives of local projects that explore decentralized technologies. LABITCONF has positioned itself as the most prominent Latin American event for the crypto adopter ecosystem. This region has suffered frequent currency crises and abusive capital controls, which is why these countries have been more open to rethinking new alternatives and adopting decentralized technologies through blockchain solutions. LABITCONF has fostered entrepreneurship, growing a network of blockchain communities from several Latin American countries that has led to the start of many large-scale projects. More about LABITCONF www.labitconf.com Social Media -Twitter: @labitconf https://twitter.com/labitconf -Linkedin: @labitconf https://www.linkedin.com/company/labitconf -Instagram @labitconf https://www.instagram.com/labitconf/ -Facebook @labitconf https://www.facebook.com/labitconf CONTACT: Rodolfo Andragnes Chief General Coordinator +5491132943255 info@labitconf.com Media Contact: Erika Zapanta erika@transformgroup.com || Deribit Sees Record Bitcoin Options Volume as Activity in $36K Calls Surge: Daily volumes for bitcoin options have hit lifetime highs on crypto derivatives exchange Deribit due to increased activity in deep “out-of-the-money” (OTM) call options, or bullish bets. The biggest cryptocurrency exchange by options volume has traded a record 47,000 bitcoin options contract in the past 24 hours with a notional value of more than $500 million. Also, the exchange registered the largest single trade of 8,000 contracts. Call options expiring in January 2021 at strikes of $36,000 and $32,000 have contributed more than 40% of the total trading volume. According to data source Skew , the $36,000 call option has seen 16,078 contracts change hands today, while the $32,000 call has registered a volume of 4,000 contracts. “The originator(s) of these trades expects BTC to trade above the strike levels [$36,000] by the end of January 2020 and is willing to back this expectation with significant volume,” Luuk Strijers, CCO of Deribit, told CoinDesk in a Telegram chat. However, the idea of bitcoin rising to levels above $32,000/$36,000 by the end of January appears somewhat farfetched, given the options market is currently assigning only a 14% probability of prices challenging record highs by the end of the first quarter. It could be a volatility play. Trader(s) who bought call options at $36,000 and $32,000 may be anticipating a pickup in volatility before the January expiry. Volatility has a positive impact on option prices. So far Friday, the highest volume has been seen in $36,000 calls expiring in January. A call option gives the investor the right, but not the obligation, to buy the underlying asset at a predetermined price on or before a specific date. Meanwhile, a put option represents a right to sell. Also read: Bitcoin Traders Can Now Bet on $40K Price With New Deribit Options Related Stories Deribit Sees Record Bitcoin Options Volume as Activity in $36K Calls Surge Deribit Sees Record Bitcoin Options Volume as Activity in $36K Calls Surge Deribit Sees Record Bitcoin Options Volume as Activity in $36K Calls Surge Deribit Sees Record Bitcoin Options Volume as Activity in $36K Calls Surge || Bitcoin Breaks $15K as Investor Numbers Peak: Bitcoins rally is still going as investors continue to accumulate the cryptocurrency, ignoring overbought signals on technical indicators. Bitcoin rose to $15,017.05 at 10:50 a.m. ET (15:50 UTC) on Thursday, its highest level since January 2018. The price gains happened as global equities rally. European stock indexes are up around 1% on the day and U.S. stock indexes such as the S&P 500 are up over 2%. The cryptocurrency is now up 7.8% over the past 24 hours and over 108% on a year-to-date basis, according to CoinDesks Bitcoin Price Index. Amid the price rally, the number of accumulation addresses has risen to a record high of 519,228, according to data source Glassnode. The metric has risen by 3% in the past four weeks alongside bitcoins rally from $10,500 to $15,000. It shows retail flow
investors accumulating amid the price rally, Denis Vinokourov, head of research at the London-based prime brokerage Bequant told CoinDesk in a Telegram chat. Also, accumulation addresses are up over 9% in 2020, meaning investors have been accumulating coins throughout the year, possibly creating upward pressure on prices. Notably, the number of bitcoins locked in accumulation addresses has gone up 20% to 2,818,447 BTC this year. Accumulation addresses are those that have at least two incoming non-dust transfers (representing minuscule amounts of bitcoin) and have never spent funds. The metric does not include addresses belonging to miners and exchanges and excludes addresses active more than seven years ago to adjust for lost coins. In a sign of confidence in the cryptocurrencys long-term prospects, investors accumulated coins during the March crash and also during the price drop in September . On both occasions, the price dip was short-lived. The recent rise in both accumulation addresses and prices indicates the market participants are not worried about a chart-driven sell-off and foresee a continued rise in prices. Bitcoins 14-day relative strength index (RSI) has been indicating overbought conditions since Oct. 20, when bitcoin was trading near $11,700. So far, the technical pullback has remained elusive. Story continues Also read: First Mover: Just Another Day for Bitcoin as US Election Slides Into Discord, Division Related Stories Bitcoin Breaks $15K as Investor Numbers Peak Bitcoin Breaks $15K as Investor Numbers Peak Bitcoin Breaks $15K as Investor Numbers Peak Bitcoin Breaks $15K as Investor Numbers Peak || Quick Bitcoin Price Recovery Looks in Doubt as Whales Move Coins Onto Exchanges: Bitcoin may have a tough time charting a V-shaped recovery to recent highs in the short term, with on-chain activity showing increased selling pressure in the market. Blockchain analytics firm CryptoQuant’s exchange inflow indicator – which measures the 144-block (roughly 24-hour) average of mean bitcoin deposits across major cryptocurrency exchanges – has risen to 2.5 bitcoin, the highest level since March 20. In other words, the average size of inward-bound transactions to trading platforms has risen to eight-month highs. Related: Pizza Hut Venezuela Now Accepts Crypto Payments “The data shows whales [large traders] are transferring their coins to exchanges,” CryptoQuant CEO Ki-Young Ju told CoinDesk. “The cryptocurrency usually trades in a sideways-to-negative manner when whales become active on exchanges.” Bitcoin is trading near $16,820 at press time, representing a 2% drop on a 24-hour basis. The cryptocurrency saw rejection above $17,400 early on Friday. The possibility of prices falling to or below Thursday’s low of $16,327 cannot be ruled out with average inflows now moving above 2 bitcoin – into CryptoQuant’s “danger zone.” A reading above 2.00 on the indicator has consistently paved the way for notable price drops this year. The indicator rose above that level at least a week before the 40% drop seen on March 12. Related: How Bitcoin Gets to $100,000 Similarly, the sharp sell-off seen in November 2018 was preceded by a sharp rise in the metric. Technical chart studies indicate low odds of an immediate bounce to levels above $19,000. Thursday’s price drop was backed by the highest sell volume (red bar) since June 1. As such, the pullback looks to have legs. Short-term momentum indicators such as the 5- and 10-day moving averages are now looking south. Support is seen at $15,798 – the 38.2% Fibonacci retracement of the rally from September low to November high. Story continues Also read: 3 Reasons Bitcoin Crashed by $3,000 – And Why It’s Still Bullish Related Stories Quick Bitcoin Price Recovery Looks in Doubt as Whales Move Coins Onto Exchanges Quick Bitcoin Price Recovery Looks in Doubt as Whales Move Coins Onto Exchanges
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 23137.96, 23869.83, 23477.29, 22803.08, 23783.03, 23241.35, 23735.95, 24664.79, 26437.04, 26272.29
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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 2022-03-09]
BTC Price: 41982.93, BTC RSI: 54.67
Gold Price: 1985.90, Gold RSI: 64.08
Oil Price: 108.70, Oil RSI: 59.58
[Random Sample of News (last 60 days)]
Kraken Says Proof-of-Reserves Audit Shows $19B in Bitcoin and Ether: Kraken on Thursday announced the results of a proof-of-reserves audit showing the crypto exchange held $19 billion in bitcoin and ether. Other crypto assets were not included in the audit.
Accounting firm Armanino completed the independent audit on Dec. 31, 2021, a Kraken representative told CoinDesk. A culmination of “years” of work, said Chief Product Officer Jeremy Welch, that required reconstructing amerkle treeto prove every coin was proper.
The audit’s release comes as crypto firms race to burnish their credibility amid mounting scrutiny from regulators and traders. Kraken itself has made no secret of its plans to go public, making brand perception all the more important.
It also sends a message to the entire industry, Welch argued.
“We do hope that all companies in this space continue to take the kind of transparent and secure approach that we know is possible,” he said in an interview. “That's the unique thing about this industry, right? It's not even possible in the older financial system to do something like this.”
Welch said Armanino will be posting a copy of the audit to its website.
Kraken intends to commission public proof-of-reserve audits periodically: perhaps once a year or quarter, Welch said. It lastreleasedthe results of such an audit in 2014.
Customer data is kept private in the audit, Welch said. He further noted customers can check their accounts against the results of the audit using a website tool.
Future audits could see more coins included. This one stuck to the top two cryptos for technical reasons because Welch said that’s where most of Kraken customer crypto rests.
UPDATE (2/3/2022; 11:55am EST): This article has been updated to clarify the nature of Kraken's bitcoin holdings in 2014. || In Wake of Russian Invasion, Experts Say Cybersecurity Stocks Remain Strong Investments: Analysts, experts and politicians are warning Americans about the increasing threat of cybersecurity attacks from Russia. Analysts have been anticipating the surge since the start of Russia invading Ukraine on Feb, 24, which in turn,some see as sector investors should focus on.
See:Cybersecurity Stocks Set to Surge After Russia’s Invasion of UkraineFind:As Russia Invades Ukraine, is Bitcoin Still a Safe Haven Compared to Gold?
Wedbush Securities analyst Dan Ives said in a research note sent to GOBankingRates on Friday, March 4, that with a significantly elevated level of cyberattacks now on the horizon, he believes added growth tailwinds for the cyber security sector — which was already poised to grow 20% year-over-year industry-wide in 2022 pre-Ukraine conflict — and well-positioned vendors should be a focus sector for tech investors during this market turmoil.
“Based on our conversations with enterprises/CISOs and contacts in the Beltway, there is a growing concern that massive cyberwarfare could be on the near-term horizon which would certainly catalyze an increase in spending around preventing sophisticated Russian-based cyber-attacks going after data centers, networks, vulnerability points, and other highly sensitive data,” Ives wrote in the note.
“We also believe Denial of Service, social engineering and password breaches will be front and center for consumers who should be on high alert. In a very nervous investing backdrop for tech, we believe the cybersecurity sector is a clear pocket of strength that we would be overweighting at current levels.”
According to Ives, the core cybersecurity names most likely to benefit from this additional Ukraine-driven APT (advanced persistent threat) spending are Palo Alto Networks, Zscaler, Checkpoint, Crowdstrike, Tenable, Varonis, Fortinet, Telos, Mandiant, Palantir and CyberArk.
Furthering the conversation, on March 2, Sen. Kirsten Gillibrand (D-N.Y.), who is a member of the Senate Armed Services Committee and Senate Select Committee on Intelligence, along with Senate Majority Leader Charles Schumer (D-N.Y.) pushed for a significant increase in cybersecurity funding to help New York State combat the threat of Russian cyberattacks, sending a letter to the Senate Appropriations Committee, according to a press release.
“Due to the Russian invasion of Ukraine, the U.S. and our allies have leveled severe sanctions against Russia, which has increased the risk of retaliatory cyberattacks, particularly against New York State infrastructure and individuals,” Gillibrand said in the release. “It is critical that we boost funding to protect New York State and the country from cyber threats from Russia. The United States must act quickly to strengthen our cyber defenses to meet this unwarranted and unprovoked Russian aggression.”
Gillibrand also posted on social media that “Americans must be extra vigilant against Russian cyberattacks right now. The federal government is working closely with state and local governments to protect critical infrastructure — but your personal accounts could also be at risk. Hacked Facebook accounts are used to send spam, scam your friends and family, and spread disinformation for foreign governments. Follow these tips to secure your accounts and protect your data!”
Learn:9 Ways To Protect Your Social Security Number and Logins From Being Sold on the Dark WebScams:5 Crypto Scams Investors Should Be Aware Of
The tips she includedinclude protecting your data by using a strong password and turning on the two-factor identification; updating your devices as soon as possible, and being vigilant and suspicious.
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This article originally appeared onGOBankingRates.com:In Wake of Russian Invasion, Experts Say Cybersecurity Stocks Remain Strong Investments || Even after Berkshire Hathaway sank $1 billion into crypto-friendly bank, vice chairman Charlie Munger calls coins like Bitcoin a ‘venereal disease’: Months after Berkshire Hathaway plowed $1 billion into a Brazilian digital bank with ties to cryptocurrency, company vice chairman Charlie Munger had some choice words for Bitcoin and its kind. “I certainly didn’t invest in crypto. I’m proud of the fact I’ve avoided it. It’s like a venereal disease or something. I just regard it as beneath contempt,” Munger said during the annual meeting of the publisher Daily Journal Corp., where Munger serves as chairman. Munger, the 98-year-old billionaire investor, has criticized Bitcoin in the past, calling the digital currency “rat poison” and, on Wednesday, said cryptocurrency should be banned, noting he “admire[s] the Chinese for banning it” already. Yet Munger’s harsh words for Bitcoin strike a glaring contrast to reports on Wednesday that Berkshire Hathaway—the investment fund Munger manages with famed investor Warren Buffett—had invested $1 billion in Nubank, a Brazilian digital bank with a Bitcoin-friendly outlook. Berkshire first bought into the São Paulo–based bank in June of last year, investing $500 million in the eight-year-old startup. It was a timely investment . Nubank raised $2.6 billion in its New York IPO last December, valuing the fintech firm at over $40 billion. According to its prospectus , Nubank has over 48 million customers across Brazil, Colombia, and Mexico. The company says it has provided over 5 million people with their first ever credit cards, extending financial services to Latin America’s unbanked population, which decreased to just 20% of the total population in 2020, from 45% in 2017. Seeing growth potential, Berkshire increased its position in Nubank by $1 billion in the last quarter of last year. The investment fund’s big bet on Nubank came to light in a U.S. Securities and Exchange Commission filing released Monday. Although the bank’s main trade is credit and debit services, Nubank also runs an investment platform called NuInvest, which allows users to invest money in a Bitcoin-backed exchange-traded fund (ETF). Story continues However, reports of the bank’s “crypto-friendly” DNA might be overblown. Nubank acquired its Bitcoin-open investment platform in 2021 through the purchase of Brazil’s Easynvest, which it then rebranded as NuInvest. And the company’s prospectus doesn’t mention revenues or products built on cryptocurrency. Nubank, which still operates at a loss, only lists revenue from transaction fees, card fees, and its investments in financial instruments, which it says are “primarily in highly liquid government bonds.” The bank does note that its future growth depends, in part, on its ability to “keep pace” with tech developments including “virtual and cryptocurrencies,” but even that comes with a caveat. Nubank warns that “cryptocurrencies and blockchain could limit our ability to track the movement of funds and therefore present a risk to our company,” by preventing the bank from performing due diligence on money laundering . Nevertheless, Berkshire’s exposure to cryptocurrency through its investment in traditional banks has increased as more banks offer services in the newfangled fintech product. Munger might be disappointed to learn he hasn’t avoided the “disease” quite as well as he’d like. This story was originally featured on Fortune.com || Kadena (KDA) Retreats Amid Calls To Ban Proof-of-Work Mining: Kadena(KDA) continues to slide amid worries about a potential crackdown on proof-of-work (PoW) mining.
The token of the PoW blockchain made anattemptto settle above the $17 level back at the end of December but lost momentum and declined towards the $7.00 level.
While crypto markets have been under pressure due to rising Treasury yields and fears about aggressive rate hikes from the Fed, it looks that there is an additional catalyst in Kadena’s decline.
The Vice-Chair of European Securities and Markets Authority (ESMA) Erik Thedéen has recentlycalledfor banning of the PoW mining due to concerns over energy usage and climate change.
It remains to be seen whether such calls will have any material impact on the dynamics ofBitcoin.Bitcoin makes up over 40% of the total crypto market cap, and many funds have positions in the world’s leading cryptocurrency. In this light, it is not easy to ban Bitcoin without consequences for financial markets. However, a war on smaller PoW projects is easier, and it looks that traders are worried that Kadena’s value proposition may hurt the project if regulators increase their efforts against PoW.
KDA managed to settle below the support level at $8.40 and is testing the strong support at $7.50. In case KDA manages to settle below this level, it will move towards the next support level at $6.50.
A successful test of the support at $6.50 will push KDA towards the support at $5.75. In case KDA declines below this level, it will head towards the next support level at $4.85.
On the upside, the previous support at $8.40 will serve as the first resistance level for KDA. A move above this level will push KDA towards the resistance which is located near the 20 EMA at $9.50.
Taking a look at H1 chart, we can see that RSI has moved away from the oversold territory, so there is plenty of room to gain additional momentum if KDA settles below $7.50.
Thisarticlewas originally posted on FX Empire
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• British Pound Finds Support Against US Dollar || European Equities: Eurozone GDP and Member State Inflation in Focus: Spanish HICP (YoY) (Jan) Prelim
Spanish CPI (YoY) (Jan) Prelim
Eurozone GDP (QoQ) (Q4)
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French Services PMI (Jan) Final
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It was a bearish end to the week for the European majors on Friday. The CAC40 fell by 0.82%, with the DAX and the EuroStoxx600 ending the day down by 1.32% and by 1.02% respectively. The losses came in spite of a bounce back across the U.S equity markets on Friday.
Disappointing GDP numbers from Germany and economic data from the U.S weighed on the majors. Market angst over the prospects of an imminent move by the FED also weighed, with U.S inflationary pressures picking up further in December. Autos continued to lose ground, with the sector taking a hit as the markets considered the impact of inflation on spending and the economic outlook.
Member state GDP numbers for the 4thquarter were in focus early in the European open.
In the 4thquarter, the economy expanded by 0.7% following a 3.1% expansion in the previous quarter. Economists had forecast 0.5% growth.
According toInsee.Fr,
• Final domestic demand (excl. inventories) contributed 0.5 points, supported by both household consumption expenditure (+0.4%) and gross fixed capital formation (+0.5%).
• Trade terms weighed, however, with imports up 3.6%, while exports rose by 3.2%, resulting in a negative contribution to GDP (-0.2 points).
• The contribution of inventory changes to GDP growth was positive (0.4 points).
According toDestatis, the German economy contracted by 0.7% in the 4thquarter, after having expanded by 0.7% in the previous quarter. Economists had forecast a 0.3% contraction. Year-on-year, the economy grew by 1.4%, falling short of a forecast of 1.8%. In the 3rdquarter, the economy had also expanded by 1.4% year-on-year.
French consumer spending and Spanish GDP numbers had a muted impact on the majors.
In December, French consumer spending increased by just 0.2%, which was in line with forecasts. Spending had risen by 0.9% in November.
For the 4thquarter, Spain’s economy expanded by 2.00% quarter-on-quarter, easing from 2.6% growth in the previous quarter. Economists had forecast 1.4% growth.
Inflation and personal spending figures were market negative.
In December, the Core PCE Price Index rose by 5.8% year-on-year, which was up from 5.7% in the month prior. Personal spending disappointed, however, falling by 0.6%. In November, personal spending had risen by 0.4%.
For the DAX:It was a bearish day for the auto sector on Friday.Continentalled the way, sliding by 2.65%, withBMWandDaimlerending the day down by 1.70% and by 1.80% respectively.Volkswagenfell by a more modest 1.43%.
It was also a bearish day for the banks.Deutsche Bankslipped by 0.07%, withCommerzbankdeclining by 1.67%.
From the CAC, it was a bearish day for the banks.BNP Paribasslid by 2.67%, withCredit AgricoleandSoc Genseeing losses of 1.04% and 1.02% respectively.
The French auto sector had a bearish session.Stellantis NVslid by 2.70%, withRenaultending the day down by 2.43%.
Things were not much better forAir France-KLMandAirbus SEwhich saw losses of 1.83% and 2.66% respectively.
It was a 2ndconsecutive day in the red for theVIXon the Friday, marking just the 2nddecline in 9 sessions.
Following a 4.60% loss on Thursday, the VIX slid by 9.28% to end the day at 27.66.
The NASDAQ rallied by 3.13%, with the Dow and the S&P500 seeing gains of 1.65% and 2.43% respectively.
It’s a busy day ahead on the Eurozone’seconomic calendar. 4thquarter GDP numbers for the Eurozone and member state inflation figures for January will be in focus. With the ECB in action on Thursday, expect both sets of numbers to influence.
From the U.S, economic data is limited to January’s Chicago PMI, which should have a muted impact, leaving the U.S equity markets to provide direction late in the session.
Going into the European open, PMI numbers from China over the weekend will likely set the tone. In January, the NBS Manufacturing PMI fell from 50.9 to 49.1, with COVID-19 weighing on private sector activity once more. The Non-Manufacturing PMI declined from 52.7 to 51.1.
In the futures markets, at the time of writing, the Dow Mini was down by 33 points.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
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• What History Says About Russell 2000’s Performance After Market Breadth Hits This Level || Gold Prices Rise and Momentum is Positive: Gold prices continued to move higher following a report that Russia was likely to attack Ukraine sooner rather than later. The White House said that American’s should leave Russia within the next 24-48 hours. U.S. yields edged lower following a surge in prices on Thursday in the wake of the stronger than expected U.S. inflation report. The interest rate curve is currently pricing 6-interest rate hikes in 2022. The University of Michigan reported very disappointing consumer sentiment data, the lowest in more than a decade.
Gold pricesrallied. Prices remain above support near the 10-day moving average at 1,816. Resistance is seen near a downward sloping trend line that comes in near $1,856. Short-term momentum is positive as the fast stochastic generated a crossover buy signal. Medium-term momentum is positive as the MACD (moving average convergence divergence) index has generated a crossover buy signal. This situation occurs as the MACD line (the 12-day moving average minus the 26-day moving average) crosses above the MACD signal line (the 9-day moving average of the MACD line). The MACD histogram prints in positive territory with an upward sloping trajectory pointing to higher prices.
In February, the University of Michigan’s consumer sentiment index declined 5.5 points to 61.7. This figure is the lowest print since 60.8 in October 2011. Expectations were for consumer sentiment to come in slightly below the December print at 67. The expectations component of the consumer sentiment survey dropped to 57.4, which is also the lowest point in more than a decade. In 2021 the index hit a high of 88 in April, as COVID restrictions were eased.
Thisarticlewas originally posted on FX Empire
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• Is Bitcoin Headed For a Shaky Weekend Amid Russia-Ukraine Tension? || Making Sense of India's New Crypto Rules: On Feb. 1, 2022, the Indian crypto industry reacted like cheerleaders unsure if their team had scored a goal. Excited celebration, then skepticism; an expression that said, “What just happened?”
India’s Finance Minister Nirmala Sitharaman made two major crypto-related announcements while introducing the nation’s budget for the upcoming year.
This post is part ofTax Week.
First, the government intends to levy a 30% tax on any income generated from crypto transactions and a second tax of 1% at source on all transactions (TDS).
Second, India intends to introduce a digital rupee (a central bank digital currency, or CBDC) within the financial year, the first reference to a time frame.
The single biggest point of confusion for users as a result of the announcements is how crypto could be taxed and yet not be legal. The government has refrained from suggesting crypto was legal.
After presenting the budget, the finance minister held a media briefing where she said her agency is "collecting inputs on regulation for crypto assets....I don't wait till regulation comes in for taxing people who are making profits.”
In other words, the bill that gives crypto the ultimate legitimacy or makes it legal will take time to come but the government is not waiting for that to happen before taxing people.India is awaiting crypto-specific legislation to be introduced in the parliament, deliberated upon and then passed by both houses to establish whether crypto is legal, meaning it can be accepted as an everyday speculative asset or as anything but a legal tender or form of money to buy and sell anything.
Whether crypto is legal, how much citizens have to pay in taxes, whether crypto could still be banned and how non-fungible tokens (NFT) fit into India’s regulatory framework are just some of the questions the crypto-curious citizen wants answered.
CoinDesk spoke to more than 20 experts, including government officials, lawyers, policy experts, executives at exchanges and tax professionals, to find the most simple and accurate answers.
The biggest takeaway is that “now as an investor I will no longer go to jail as a holder of crypto,” said Edul Patel, CEO of Mudrex, a crypto asset management platform.
A Reutersreportfrom December 2021 said the draft legislation regulating cryptocurrency includes a provision that those who “infringe the law could be subject to arrest without a warrant and being held without bail.”
An NDTVreportadded that “individuals and corporations violating government rules on crypto finance will face fines of up to Rs. 20 crore (US$2.7 million) and a jail term of 18 months.
India’s yet-to-be-introduced legislation could still impose jail terms or fines, but not for simply trading in crypto – they would only apply if one violates new tax rules that determine how much tax to pay: 30% tax on income from transfer, a tax of 1% at source on all transactions (or TDS, for Tax Deducted at Source). Two other conditions are that one cannot offset losses from a transfer of digital assets against any other income and that gifts will be taxed when it is in the hands of the recipient.
The finance minister's use of the phrase “virtual digital asset” in her speech earlier this month points to why many in the industry, and the media that cover it, are not saying crypto is legal.
The budget proposal defines virtual digital assets as “any information or code or number or token (not being Indian currency or foreign currency) generated through cryptographic means or otherwise, by whatever name called, providing a digital representation of value exchanged.”
In plain English, that means “virtual digital asset” is the terminology the government is using for all cryptocurrencies and NFTs.
The word “digital” is used because cryptocurrencies or NFTs are a digital representation and not legal tender you can hold in your hand like a 100 rupee note.
The government hadearliermulled using the phrase “crypto-assets” to signify that cryptocurrencies are not legal tender and you cannot buy or sell things with them but instead they are held as an asset for investment purposes.
But the government appears to have settled for “virtual digital assets” in order to distance itself from the word “crypto.”
“This forces the interpreter to try to understand why the government used a different word, creating doubt and encouraging investor caution,” explained Shehnaz Ahmed, senior resident fellow and lead (fintech) at the Vidhi Centre for Legal Policy.
This terminology by the government is broad and covers all sorts of digital or crypto assets for the purpose of taxation. “Another point is that the term ‘virtual assets’ is also being used by the global body, [the] Financial Action Task Force, [and] because the government wants to be aligned with the global terminology,” said Ahmed.
When India announced its new proposed rules Binancetweetedthat “crypto just became legal in India.”
In media interactions after the announcement, several government officials said the new proposals do not mean crypto is legal.
Finance Secretary T. V. Somanathan told Bloomberg that it is not illegal to buy or sell crypto in India.
News agency ANIquotedSomanathan as saying, "Bitcoin, ethereum or NFT will never become legal tender. Crypto-assets are assets whose value will be determined between two people. You can buy gold, diamonds, crypto, but that will not have the value authorized by the government."
Similarly, Revenue Secretary Tarun Bajaj explained it best in an interview by saying that the gains from cryptocurrencies were always taxable but the new rule will “bring certainty in taxation of cryptocurrencies.” Still, this new rule “does not convey anything on its legality which would come out once the bill (on regulating such assets) is introduced in Parliament.”“Just because it is taxed does not make it legal,” said Central Board of Direct Taxes (CBDT) Chairman JB Mohapatra.
Mohapatra also said the act of levying a tax should not be equated with conferring legitimacy to cryptocurrencies,according to Business Today. A senior lawyer, requesting anonymity because he has worked with the government on crypto regulations, said the government has taken a view that everything is taxable but not everything is permissible. Illegal products smuggled in are also taxed.
“If you smuggle and are caught, you are not only liable to pay the forfeiture of goods and the benefits but also penalty. They also charge tax on it,” the lawyer said.
When CoinDesk asked Binance about these explanations by government officials, a spokesperson referred CoinDesk to statements from theReserve Bank of Indiaand thebudget speech.
“We look forward to supporting the government of India as their approach to digital assets continues to evolve," the spokesperson said.
Investors in crypto will owe a 30% tax on all transactions. Further, some investors might owe an additional 1% tax in certain circumstances. The 30% tax will apply every time any investor makes any capital gain. In contrast, the 1% tax will only apply in certain situations.
However, international transactions may be exempt because the government has not yet defined how taxes might work if the recipient is overseas.
If a crypto investor sends 100 rupees to an exchange and buys bitcoin with it and it doubles in value, the investor makes a 100 rupee gain. According to the now-announced tax rule, the investor will be charged 30% on the gain of 100 rupees. So, the investor will be left with 170 rupees.
The 1% tax TDS will be imposed on the sale value (in this case 200 rupees) at the time of the sale.
But whether tax deducted at the source will be charged or not depends on the amount investors trade on exchanges and who they are.
Individuals or entities with a net worth of under 50 lakh (roughly US$66,500) are taxed with the 1% TDS if they invest more than 10,000 rupees. Investors with less than 10,000 do not face this tax.Individuals face the 1% TDS above 50,000 rupees. Investors will be charged a 30% tax if they do anything with their crypto investment besides convert the crypto back to rupees in their bank account.
Exchanges are responsible for submitting TDS taxes to the government on a monthly basis, while the 30% tax is the responsibility of individuals and their chartered accountants.
The government has not yet determined how to implement the 1% tax when the buyer or recipient of a crypto transaction is located in another nation. This has left exchanges confused.
All crypto (or virtual digital asset) gains will be taxed effective April 1, 2023, and the 1% TDS will come into effect as of July 1.
However, on Feb. 3, the Central Board of Direct Taxes (CBDT) announced crypto transactions conducted between 2021 and April 2022 will also be subject to this new tax.
The old income tax law would still apply on crypto gains over the past decade.
“The flat 30% tax is unfair, especially to the investors who fall under lower income brackets.” said Anoush Bhasin, a crypto tax adviser and a founder of Quagmire Consulting.
Bhasin said implementing the 1% TDS would be difficult for retail transactions.
“The government should further clarify how on-chain transactions would be considered for this purpose,” Bhasin said.The government is treating crypto like all other forms of speculative income in India, which explains why it would face a 30% tax rate, thehighestrate in India.
"If I take horse racing, that also attracts 30% tax. There is already 30% tax on any speculative transaction. So we have decided to tax crypto at the same rate. Crypto is a speculative transaction, so we are taxing it at a 30% rate," Finance Secretary Somanathan told ANI.
“The first principle (of the government) at play is ensuring that no earnings from virtual digital assets escape the tax net,” wrote Meghna Bal, a fellow at the Esya Centre and a consultant for Koan Advisory, a technology policy consulting firm, for theThePrint.
Bal thinks a high tax rate has been used “as a disincentive” for low-income individuals and that the “tax deductible at source (TDS) mechanism has been used to understand the extent of activity” in the crypto market.
Across all exchanges, the 1% TDS is the biggest issue. They don’t know if the 1% TDS will be on every single transaction.
Their concern is if that is the case, then high-net-worth individuals will discontinue crypto trading in India.
“We need more clarity on the 1% TDS and the definition of transfers. Is this transfer from wallet to wallet or bank to wallet?” said a senior executive at a major exchange, wishing not to be named.
The executive said a “30% slab is fixed for virtual digital assets but the definition of virtual digital assets needs to be made clearer, and ideally it should be different for different use case scenarios.”
NFTs, decentralized finance and metaverse tokens should have different tax brackets because they might see different uses than just speculative trading, the executive said.
On Feb. 10, representatives of India’s exchanges met with senior policymakers at the Finance Ministry, seeking a review of both the 1% TDS and the 30% tax rate. The industry is preparing a formal proposal and is hoping the government accommodates the industry’s reconsideration request before the bill is passed in parliament.
The other concern some of the exchanges have is whether crypto will be banned after bringing everyone under the tax net. The concern is that if all crypto-related activities are brought under a tax regime, it may make it easier to ban these activities outright.
If or when the government introduces a crypto-specific bill in parliament and it is passed and becomes law, crypto will be seen as being legal.
Even after a crypto law is enacted, the fine print will determine whether all aspects of the cryptocurrency ecosystem will be legal or not.
The bill has already reportedly evolved fromprohibitingall private cryptocurrencies to allowing cryptocurrencies to be used as an asset.Therefore, uncertainty around several aspects of the crypto ecosystem remains and will be determined by the law.
It is not clear when the government will introduce the bill. The finance minister, responsible for introducing the bill in parliament, has refused to announce a time frame, saying consultations are ongoing. Only the cryptocurrency issued by the Reserve Bank of India (India’s central bank) – i.e., the digital rupee – will be a legal currency or legal tender. In other words, you could buy groceries only with the digital rupee and not ether, bitcoin or any other cryptocurrency.
In an interview with CNBC TV 18, the finance minister explained how she is trying to draw a “distinction between privately generated crypto-assets and what can be digital currency,” while also maintaining that “we can’t define” what a crypto-asset is until consultations are done. That is when she would bring the bill to parliament.
Shehnaz Ahmed of the policy think tank Vidhi Legal fears that “not making a call on the regulatory aspect is not great for the crypto industry. If they don’t, they are allowing for the growth of a reckless market. Tax treatment is great but you seriously need to have regulation.”
Technically, yes.
“But it may be foolish to do that since the implementation of the ban would be impossible,” said Sidharth Sogani, the founder and CEO of cryptocurrency research organization Crebaco.
“A ban would only instigate black market and peer-to-peer transfers that are impossible to track and trace, resulting in a major tax revenue loss, too,” he said. Most indications suggest India’s crypto market is too big to ban. That’s partly why India has decided to tax it now.
CBDT Chairman Mohapatra has underlined that even if crypto trading is made illegal through legislation, the profits on trade will continue to be taxed.
According to experts, what is more likely is that every cryptocurrency other than the digital rupee (and maybe some of the most well-known currencies such as bitcoin and ether) will be banned from being used as legal tender. Investors could trade cryptocurrencies as assets or purchase NFTs, but not food or other goods.“I don’t think that the legal tender status will be conferred on something that is not backed by the central bank and RBI. So even bitcoin or any other popular currency will not be given the legal tender status,” said Shehnaz Ahmed from Vidhi.
On Feb. 14, T Rabi Shankar, the deputy governor of India’s central bank, reiterated the bank’s stance, saying that “banning cryptocurrency is perhaps the most advisable choice open to India.”
The likely interpretation of the new rule is that NFTs will be taxed almost like virtual digital assets.
CoinDesk hasreportedthat the government may be seeking “to define just what is or is not a non-fungible token” and that in this new law it has “retained the power to say this is not an NFT.” In other words, the government has retained the power to exclude any NFT it chooses through a notification.
“This entire taxation structure is brutal and it will not last. They will have to ease it in the next two years, is my prediction, maybe even when they introduce the crypto bill,” said Crebaco’s Sogani. || Coinbase Global (COIN) Q4 Earnings & Revenues Lag Estimates: Coinbase Global’s COIN fourth-quarter 2021 adjusted earnings of $3.32 per share missed the Zacks Consensus Estimate by 70.3%.In the quarter, Coinbase witnessed higher trading volumes in both retail and institutional with diversification beyond Bitcoin into Ethereum and other crypto assets, driving higher transaction revenues, subscription and services revenues.
Coinbase Global, Inc. price-consensus-eps-surprise-chart | Coinbase Global, Inc. Quote
Total revenues came in at $2.5 billion and missed the Zacks Consensus Estimate by 39.3%. The top line increased about five-fold year over year, reflecting increases in transaction revenues, subscription and services revenues as well as other revenues.Monthly Transacting Users (MTUs) grew to 11.4 million, up more than four-fold year over year driven by higher retail and institutional volume. Verified Users grew to 89 million.The trading volume of $547 billion was up more than six fold year over year. Total trading volume continued to diversify beyond Bitcoin into Ethereum and other crypto assets.Total operating expenses increased more than four-fold year over year to $1.6 billion, attributable to an increase in transaction expense, technology and development, sales and marketing and general and administrative and other operating expense.Adjusted EBITDA was $1.2 billion in the reported quarter, up more than four fold year over year.
As of Dec 31, 2021, cash and cash equivalents were $7.1 billion, up more than five-fold from the figure at 2020 end. Total assets were $18.5 billion, up more than three-fold from the level at 2020 end.At the end of 2021, the long-term debt of the company was $3.4 billion.Total shareholders’ equity was $5.4 billion at the end of the reported quarter, up more than six-fold from the value on Dec 31, 2020.Cash from operations increased more than three fold year over year to $10.7 billion in 2021.
Coinbase estimates retail MTU and total Trading volume to be lower in first-quarter 2022 compared with fourth-quarter 2021.Transaction expenses are expected to be in the low-to-mid twenties as a percent of net revenues.Operating expenses will be between $1.2 and $1.3 billion. Sales and marketing will be 15-20% of net revenues
The annual average retail MTU is expected between 5 and 15 million.While subscription and services revenues are expected to strongly grow over 2021, transaction expenses, as a percentage of revenues, are expected to be in the low 20%. Sales and marketing expenses, as a percentage of revenues, are expected to be about 12-15%. Technology & development and general & administrative expenses are projected to be between $4.25 and $5.25 billion.Adjusted EBITDA losses are expected to be about $500 million.
Coinbase Global currently carries a Zacks Rank #3 (Hold). You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Fourth-quarter earnings ofNasdaqNDAQ andCboe Global MarketsCBOE beat the Zacks Consensus Estimate while that ofMarketAxess HoldingsMKTX missed expectations.Nasdaq’s fourth-quarter 2021 adjusted earnings per share of $1.93 beat the Zacks Consensus Estimate of $1.78 by nearly 8.4%. The bottom line improved 21% year over year. Revenues of $885 million increased 12% year over year. The Nasdaq Stock Market welcomed 1,000 new company listings in 2021, including 752 IPOs representing $181 billion in capital raised.Nasdaq expects its 2022 non-GAAP operating expense in the range of $1.68 billion to $1.76 billion.Cboe Global reported fourth-quarter 2021 adjusted earnings of $1.70 per share, which outpaced the Zacks Consensus Estimate by 11.1% and soared 41% year over year. Total adjusted revenues of Cboe Global amounted to $390.5 million for the fourth quarter, which improved 27% year over year on the back of growth in transaction and clearing fees, access and capacity fees, market data fees, and other revenues. The top line beat the consensus mark by 0.9%.Cboe Global estimates total organic net revenue growth within 5-7 percentage points this year. Adjusted operating expenses are projected between $617 million and $625 million, indicating an increase from the 2021 base of $531 million.MarketAxess’ fourth-quarter 2021 earnings per share of $1.37 missed the Zacks Consensus Estimate of $1.43. Also, the bottom line declined from $1.91 per share a year ago. Total revenues decreased 3.6% to $165.1 million but marginally beat the Zacks Consensus Estimate of $164 million. Emerging markets volume increased 15% year over year to $160.6 billion. For the fourth quarter, the company announced active total client firms of 1,877, while international client firms were recorded at 956. Total credit category’s trading volumes decreased to $604.4 billion from $639.6 billion in the prior-year period.MarketAxess projects expenses in the range of $385-$415 million. Capital expenditure for 2022 is expected within $58-$62 million.
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 reportNasdaq, Inc. (NDAQ) : Free Stock Analysis ReportCboe Global Markets, Inc. (CBOE) : Free Stock Analysis ReportMarketAxess Holdings Inc. (MKTX) : Free Stock Analysis ReportCoinbase Global, Inc. (COIN) : Free Stock Analysis ReportTo read this article on Zacks.com click here. || Shiba Inu Is Likely Marching to the Beat of Its Own Drum: Cryptocurrencies never fail to amaze me and the sector once again pulled some surprises when Russia made the irresponsible decision (to put it diplomatically) to invade Ukraine, setting off alarm bells across the globe. Initially, that meant red ink for cryptos likeShiba Inu(SHIB-USD).
Source: Shutterstock
However, the geopolitical flashpoint then gave way to a positive catalyst.
As promised, Russia’s incursion brought on tough economic sanctions against Russia. When outnumbered Ukrainian forces mounted an unexpectedly ferocious resistance, their bravery encouraged even more aggressive penalties from western allies. Soon, Moscow found its economy deteriorating, with the ruble currency rapidly losing its purchasing power.
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In a desperate move to restore stability, the Russian central bankhiked the benchmark interest rate to 20% from 9.5%. Even with this dramatic action, the ruble kept losing value, inviting the prospect of hyperinflation – an inconceivable notion only several days ago.
Oncereality set infor everyday Russians that their paradigm was about to take a sharp turn, they did what I imagine anyone would do in the same situation: run to the banks and ATM machines and pull out their money to exchange it for some Benjamins or any other hard currency. But a savvy few turned to cryptos.
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Honestly, why wouldn’t they? With the ruble almost destined to fly off the rails, anything of recognized value would be preferable than Russian currency. But would that extend to something like Shiba Inu?
On the surface, crypto is crypto. When you have decentralized digital assets that operate outside the global fiat monetary system, you can essentially sidestep sanctions. If you’re particularly savvy, you might even attempt to time your entry back into rubles, thus profiteering from the troubles.
Still, Shiba Inu probably will march to its own beat and here’s why.
According to a Pew Research Center report,only 16% of Americans say that they have usedor invested in cryptos. You can look at it in two ways. On one hand, 16% is quite a lot of people. On the other hand, 100% of Americans have used greenbacks. So, it’s going to take a lot for mainstream crypto integration to occur, let alone for a meme coin like Shiba Inu.
Across the globe, Russians have also warmed to virtual currencies, with 17.3 million people or11.9% of the population owning digital assets. But again, we find a similar backdrop to blockchain integration in the U.S. Yes, nearly 12% is a sizable allocation. However, 100% of Russians have used rubles.
I mention this to try to get into the head of what your everyday Russian citizen might think as their currency implodes. Your first instinct would be to cash out in euros, then dollars, then yen if you’re desperate. But cryptos? At this point, Russians are getting immersed in a baptism of fire regarding the viability of decentralized assets.
Censorship-free currency? Sign me up, especially if that means avoiding the penalties of U.S.-backed sanctions.
However, if someone’s not familiar with cryptos, I highly doubt that they’ll convert to the riskier stuff like Shiba Inu. I’m not knocking the SHIB. Rather, if I had to pick a crypto to put all my paper wealth into because the paper was about to go up in smoke, I would go with the most established, well-known asset.
That eliminates Shiba Inu. Sorry.
Therefore, when I see news about Russians rushing toward cryptos, I’m assuming some of the top names in the sector. I’m not thinking Shiba Inu, which will largely continue to attract its core user base.
Another factor that would prevent SHIB from being a wartime crypto so to speak is accessibility. If you want to acquire the top three cryptos by market capitalization right now, you won’t have any difficulty doing so, provided you have a modicum of computer skills.
You want to get Shiba Inu? It’s a little bit more of a complicated story. And when you’re in a panic and just want to get wealth protection, you’re going to gravitate toward (relatively) safer and accessible avenues.
It’s nothing personal. It’s just human nature.
On the date of publication, Josh Enomotodid 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 postShiba Inu Is Likely Marching to the Beat of Its Own Drumappeared first onInvestorPlace. || MARA, RIOT, SDIG, BTBT, BSGA: Bitcoin Mining Stocks Face Pressure Ahead of Feb. 10: Shares of Bitcoin mining stocks, includingRiot Blockchain(NASDAQ:RIOT) andMarathon Digital(NASDAQ:MARA), are under pressure after Sen. Elizabeth Warren gave the companies until Feb. 10 to provide information on their energy use and its impact on climate change.
Source: Shutterstock
TheFebruary deadlinealso includesStronghold Digital Mining(NASDAQ:SDIG),Bit Digital(NASDAQ:BTBT) andBlue Safari(NASDAQ:BSGA), which is merging withBitdeer.
Importantly, this deadline comes as Warren expands her ongoing inquiry ofBitcoin(CCC:BTC-USD) miners’ “extraordinarily high energy usage” and its environmental impacts. The inquiry puts additional pressure on Bitcoin mining stocks amid great market volatility. Recent weeks have also seen plunges in digital assets such asBitcoin(CCC:BTC-USD) andEthereum(CCC:ETH-USD). RIOT and MARA stock have each fallen 40% so far in January.
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In the letter, Warren asked each crypto miner to detail electricity consumption, scaling plans, agreements with electricity companies, and impact on energy costs for consumers and small businesses. As part of this, she asked the miners to submit the information by Feb. 10.
“The extraordinarily high energy usage and carbon emissions associated with Bitcoin mining could undermine our hard work to tackle the climate crisis,” reads Warren’s letter.
Her inquiry is the latest in a series of political actions on cryptocurrency miners that targets their energy consumption. Notably, Bitcoin’s proof-of-work consensus protocol has attracted attention for its high usage. Lawmakers have held Congressional hearings to discuss mining, and regulators in the European Unionhave also called for a ban on proof-of-work.
At the same time that Warren’s demands for information on crypto miners’ energy use was released, media reports have also surfaced that President Joe Biden is preparing anexecutive orderthat would require government agencies to conduct risk analysis on cryptocurrencies as a national security threat. The reports say that the White House is expected to issue an executive order in the coming weeks about actions the U.S. government will take.
The rationale for the executive order is that cryptocurrencies allow users to more easily transfer money across borders. Additionally, theAmerica Competes Act, is currently before Congress. The act would enable the U.S. Treasury Secretary to ban cryptocurrency exchanges from operating. The America Competes Act has not yet been passed by Congress, but is causing concerns among cryptocurrency operators and investors.
Warren’s targeting of cryptocurrency miners is the latest example of lawmakers ratcheting up pressure on the cryptocurrency sector. Many industry players, investors and analysts fear that it is only a matter of time before miners, exchanges and the digital coins themselves are slapped with regulations.
This is all bad news, and comes at a difficult time for cryptocurrencies.
Bitcoin is currently trading at $37,150, which is 46% below its all-time high. Ethereum, at $2,440, has fallen 37% in the last month. The declining prices of cryptocurrencies is harming Bitcoin mining stocks. The scrutiny of lawmakers such as Warren, and threats of regulations, is adding to the pain for cryptocurrency mining stocks and their shareholders.
The next month will be important for cryptocurrency miners. In addition to the Feb. 10 deadline set by Warren, the White House executive order on cryptocurrencies is expected to be issued within weeks. Taken together, they could push the prices of stocks such as RIOT and MARA even lower. Investors should prepare themselves for greater volatility ahead as politicians and regulators keep their sights trained on the cryptocurrency industry.
On the date of publication, Joel Bagloledid 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 postMARA, RIOT, SDIG, BTBT, BSGA: Bitcoin Mining Stocks Face Pressure Ahead of Feb. 10appeared first onInvestorPlace.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 39437.46, 38794.97, 38904.01, 37849.66, 39666.75, 39338.79, 41143.93, 40951.38, 41801.16, 42190.65
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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 Services Inc. Purchases Four Antminer S9 Bitcoin Miner: GRANDVILLE, MI / ACCESSWIRE / January 4, 2017 / Bitcoin Services Inc. (OTC PINK: BTSC) announced today that it purchased four Antminer S9 bitcoin miners. The S9 has more hashing power than any previous device crammed into its silicon; a massive 14 TH/s (TeraHash per second). A total of 189 chips, spread over 3 circuit boards, are combined to achieve this phenomenal hashrate. In addition, after several shareholder inquiries, the company has no plans for a reverse split. The current share structure as of today is 511,784,705 OS, 387,512,190 Restricted, and 124,272,515 Float. About Bitcoin Services Inc.: Our business operations are Internet based to the consumer and consist of three separate streams, as follows: (1) bitcoin escrow services, (2) bitcoin mining, and (3) blockchain software development. The principal products and services are the mining of bitcoins, providing escrow services for buyers and sellers of bitcoins, and the development and sale of blockchain software. The market for these services and products is worldwide, and sold and marketed on the Internet. Safe Harbor Statement This 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 and Exchange Act of 1934, as amended. Those statements include the intent, belief, or current expectations of the company and its management team. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control. Some of these factors include the ability of the company to raise sufficient capital, attract qualified management, attract new customers, and effectively compete against similar companies. Story continues CONTACT: info@bitcoinservicesinc.com SOURCE : Bitcoin Services Inc. || Bitcoin trading shrivels under Chinese government's glare: By Brenda Goh SHANGHAI (Reuters) - Trading volumes at China's three largest bitcoin exchanges have plummeted after the central bank put the virtual currency market under sharper scrutiny a month ago in a move that coincided with official efforts to stem capital outflows. China had been the world's leading venue for bitcoin trading, with analytics site Bitcoinity estimating that the OkCoin, Huobi and BTCC exchanges had accounted for more than 90 percent of the global bitcoin market on Jan. 11. But data compiled by analytics platform Sosobtc showed the number of bitcoins traded on the three exchanges slumped from 13.6 million on Jan. 6 to just over 120,000 on Feb. 9. The People's Bank of China launched checks into the three exchanges last month and they have responded by saying that they would improve their systems to prevent money laundering and the use of bitcoin to trade against the yuan. On Thursday, the People's Bank of China said it had also warned smaller bitcoin exchanges that it would shut them down if they violated regulations. While the yuan weakened 6.6 percent against the dollar last year, its worst performance since 1994, the bitcoin price has soared to near-record highs. That, and the relative anonymity the digital currency offers, has prompted some market operators to believe bitcoin 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 can buy each year. The three main exchanges have introduced trading fees, stopped allowing margin lending and increased scrutiny of user identities, making it far less attractive for automated, high speed trades which had previously accounted for the lion's share of their business. The absence of trading fees had provided an advantage over overseas rivals earlier, but that advantage has now gone, traders said. Business has virtually dried up on Beijing-based high-speed bitcoin trading platform BotVS, according to chief executive Chen Zhenguo. "With the transaction fees the profits you can get from hedging (Bitcoin) are too low...You might as well put your money in Yu'e Bao," he said, referring to a money market fund run by an Alibaba Group affiliate. Other traders voiced similar sentiments. Cai Wenhao, business manager at Sosobtc, said trading volume levels in China would likely normalize to around those seen on exchanges elsewhere, like the Hong Kong-based Bitifinex and U.S.-based Coinbase. (Reporting by Brenda Goh; Additional Reporting by SHANGHAI Newsroom and John Ruwitch; Editing by Simon Cameron-Moore) || Your first trade for Monday, January 17: The " Fast Money " traders gave their final trades of the day. Brian Kelly is a buyer of Tesla. Steve Grasso is a buyer of Nvidia. Guy Adami is a buyer of Amazon. Tim Seymour is a buyer of the iShares MSCI Emerging Market ETF (EEM). Trader disclosure: On (DATE HERE) 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. STEVE GRASSO 'S FIRM IS LONG: AGN, BIIB, CHK, COG, CUBA, DIA, FCX, GLD, ICE, KDUS, MFIN, MJNA, MSFT, NE, REGN, RIG, SPY, TITXF, VIRT,WDR, WLL, ZNGA. GRASSO IS LONG: CHK, EEM, EVGN, GDX, KBH, MJNA, MON, MU, OLN, PFE, PHM, SPY, T, TWTR. GRASSO'S KIDS OWN: EFA, EFG, EWJ, IJR, SPY. NO SHORTS. BRIAN KELLY is long: FCX, TSLA, SLV, Bitcoin TIM SEYMOUR i s long ABX, APC, AVP, BAC, BBRY, C, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD,MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, SQ,T, TWTR, VALE, 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, IWM || Bitcoin's total value hits record high above $14 billion: By Jemima Kelly
LONDON (Reuters) - The total value of all bitcoins in circulation hit a record high above $14 billion on Thursday, as the web-based digital currency jumped 5 percent on the day to its highest levels in three years after more than doubling in price this year.
The price of one bitcoin reached $875 on the Europe-based Bitstamp exchange, its strongest level since January 2014, putting the cryptocurrency on track for its best daily performance in six months.
That compared with levels around $435 at the start of the year, with many experts linking bitcoin's rise with the steady depreciation of the Chinese yuan, which has slid almost 7 percent this year.
Data shows the majority of bitcoin trading is done in China, so any increase in demand from there tends to have a significant impact on the price.
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.
The digital currency is still some way off the peaks it scaled in late 2013, when it traded as high as $1,163 on the Bitstamp exchange.
But because more bitcoins continue to be added to the system, currently at a rate of 12.5 every 10 minutes, its total value - or "market cap" - on Thursday surpassed the 2013 peak of around $14.01 billion. That puts its total value at around the same as that of an average FTSE 100 company.
Charles Hayter, founder of data analysis website Cryptocompare, said bitcoin had been helped higher by demonetization in India, and by global political uncertainty.
"If that trend continues, bitcoin is a good thematic play on the fracturing of our global norms as a flight to safety," he said.
(Reporting by Jemima Kelly, editing by Nigel Stephenson) || Why China’s central bank fears bitcoin: It was only one week ago that the price of the digital currency bitcoin hit a new all-time high of $1,130. Now the price has fallen precipitously, and was hovering around $800 on Thursday afternoon. The reason is China. The People’s Bank of China (PBOC) said on Wednesday that it plans regular on-site inspections of the leading Chinese bitcoin exchanges, including BTCChina, Huobi, and OKCoin. This came after PBOC officers in Beijing visited the offices of Huobi and OKCoin, and PBOC officers in Shanghai visited the offices of BTCC, for checkups that, “focused on whether the firm was operating out of its business scope, whether it was launching unauthorized financing, payment, forex business or other related businesses, whether it was involved in market manipulation, anti-money laundering or (carried) fund security risks,” as Reuters translated the PBOC statement. The price of bitcoin fell sharply on the news. Bitcoin price so far in 2017. (via Coindesk) Five days earlier, the PBOC issued press releases, in Beijing and Shanghai, that contained a more general warning about bitcoin. The releases recirculated a government statement from back in 2013 stating that the Chinese government does not recognize bitcoin as a currency, and that it carries investment risk. The price of bitcoin fell 12% in the aftermath, but then recovered. It was climbing back when the PBOC announced its inspections on January 11, sending the price down again, as much as 15% at one point. The PBOC did not say bitcoin is illegal, or expressly tell Chinese citizens they cannot buy bitcoin. But clearly, China’s central bank is stepping up its public war on bitcoin. Why? Bitcoin is frequently thought to be an uncorrelated asset to the broader global market—that is, its trading price is not tied to stocks. (In that way it has been compared to gold .) Speculators see bitcoin as a “safe haven” investment for two scenarios: tightened capital controls, and general market uncertainty. At the moment, investors in China see both of those happening: The PBOC cracked down with stricter capital controls in 2016, and the price of the yuan has fallen 5% against the dollar over the past 12 months. Story continues Chinese authorities have taken note of the move toward bitcoin, and they are trying to throw cold water on the coin in order to tamp down capital outflows and help the yuan. Will it work? It clearly affected prices, but bitcoin has regular price hikes and falls, and it has fallen much farther than this before—usually after a reported hack of a major bitcoin exchange, like the bitcoin “flash crash” in 2013 after the fall of Mt. Gox. The price already appeared to be climbing back on Thursday, after hitting a low around $760. And the price is still up 87% in the past 12 months, and 246% in the past two years. The latest two actions by the PBOC aren’t the damaging blow that some news outlets are making them out to be. The first was simply a warning that bitcoin is volatile. That’s true (though it has been less volatile over the past two years), as one of the targeted exchanges, BTCC, acknowledged in a muted public response to the PBOC release: “The press release put forth from the PBOC today outlines that there is significant volatility in bitcoin trading… bitcoin is a virtual good and doesn’t have legal tender status.” The second was just an indication China will watch bitcoin companies more closely. In fact, BTCC CEO Bobby Lee t old Coindesk , “We’re now working closely with the government about what makes a healthy market… We’ve been trying to get their attention for years.” Make no mistake: China is the most important market for bitcoin prices. During the price ride at the end of 2016 and in the first week of 2017, more than 90% of trading volume was coming from China. Positive sentiment toward bitcoin among Chinese investors is crucial to a high bitcoin price. And while China’s central bank succeeded this week in bringing bitcoin back down to earth, it is very unlikely that Chinese bitcoin buyers have been turned off for good. Here’s what to expect next, although it could take a few years: the Chinese government will likely begin regulating the major bitcoin companies there, and making them go through licensing hurdles. That may turn out to be good for the price. That’s what happened in the U.S. in 2013, when the government began to regulate and license bitcoin companies as “money transmitters”: the price rallied thanks to regulatory clarity. “If the end result is there’s actually kind of some legitimacy around regulation of this in China, then I actually think the market rallies,” says Jeremy Allaire, CEO of the peer-to-peer payments company Circle . “It will be very interesting to see if the outcome of the People’s Bank of China examining [bitcoin exchanges] leads to new guidance, new rules. Even if there’s enforcement actions, the result and output might actually be more legitimacy.” — Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at @readDanwrite . Read more: Bitcoin is becoming the new gold Expect more blockchain hype in 2017 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 || Bitcoin is shrugging off some big news of out of China: bitcoin atm (Photographers in front of a mock bitcoin ATM in 2014 during the opening of Hong Kong's first bitcoin retail store.Reuters/Bobby Yip) Bitcoin is little changed at $924 a coin as of 7:26 a.m. ET. Monday's flat session comes despite some big news out of China. According to Reuters, the country's three largest bitcoin exchanges announced plans to begin charging a flat fee of 0.2% for each transaction. Releases from BTCC , Huobi , and OkCoin reportedly said the fees were being implemented to "further curb market manipulation and extreme volatility." Bitcoin has had a wild start to 2017. The cryptocurrency rallied by more than 20% in the opening days of 2017 amid huge interest from China, which accounts for nearly 100% of trading . In fact, data from Cryptocompare found, "In the first 24 hours of the new year, over 5 million bitcoins were bought in Chinese yuan, equating to $3.8 billion. In contrast, just 53,000 bitcoins were bought in US dollars." The early gains vanished in a matter of days, however, as bitcoin tumbled 35% on concerns that China was going to crack down on trading, with Beijing having announced it had begun investigating bitcoin exchanges in Beijing and Shanghai on suspicion of market manipulation, money laundering, unauthorized financing, and other issues. But bitcoin has managed to work its way off support in the $750 area, and it is trying to break out of resistance in the $880/$920 area that has defined trade for the past week. Monday's announcement could reduce some of the market volatility, as bitcoin traders in China won't be allowed to buy and sell without paying the new transaction fee. Bitcoin (Investing.com) NOW WATCH: Here's how to use one of the many apps to buy and trade bitcoin More From Business Insider Here's how to use one of the many apps to buy and trade bitcoin One country dominates the global bitcoin market Bitcoin is soaring View comments || China central bank urges rational investment in bitcoin: BEIJING (Reuters) - China's institutional and individual investors should take a rational approach to investing in virtual currencies such as bitcoin, the central bank said on Friday.
Bitcoin prices had showed abnormal fluctuations, the Shanghai head office of the People's Bank of China (PBOC) said in a notice.
This prompted branch officials to meet representatives of a major bitcoin trading platform in China, BTCC.
They cautioned against potential risks in the platform's operations and asked it to carry out "self-inspection" according to the law, the bank said.
It stressed bitcoin is not a currency and cannot be circulated as a real currency in the market.
(Reporting by Yawen Chen and Kevin Yao; Editing by Clarence Fernandez) || Bitcoin breaks $1,000 level, highest in more than 3 years: The price of bitcoin(Exchange: BTC=-USS)has breached the $1,000 mark, hitting a more than three-year high on Monday.
The cryptocurrency was trading at $1,021 at the time of publication, according to CoinDesk data, at level not seen since November 2013, with its market capitalization exceeding $16 billion.
Bitcoin has been on asteady march higherfor the past few months, driven by a number of factors such as the devaluation of the yuan, geopolitical uncertainty and an increase in professional investors taking an interest in the asset class.
"We are seeing the aftermath of zero interest rates run amok. So bitcoin is a healthy reminder that we don't have to hold on to dollars or renminbi, which is subject to capital controls and loss of purchasing power. Rather it's a new asset class," Bobby Lee, chief executive of BTC China, one of the world's largest bitcoin exchanges, told CNBC by phone.
China is the source of the majority of trade in bitcoin and the devaluation of the yuan and fears over capital controls have contributed to the recent spike in the digital currency.
But several other factors have also had a notable impact. For example, bitcoin's price has appreciated around 137 percent in the past 12 months but got a big boost after Donald Trump won the U.S. election in November.
Another big event this year was in June when a change in bitcoin's underlying rules meant those who were "mining" the cryptocurrency – a process whereby users are awarded with bitcoin if they solve complex mathematical puzzles in order for a bitcoin transaction to go through – received less rewards. This was due to theprocess known as "halving,"which essentially reduces the supply of bitcoin.
But overall, bitcoin experts said that the market is growing in terms of volumes and those participating, creating a "network effect" that will see the price rise further.
"The value of Uber in any city is directly dependent on the number of drivers and number of users, it's not linear it's exponential. The same is true of the value of bitcoin," Lee said. || VW Is on a Roll As $4.3 Billion DoJ Dieselgate Deal Nears: Volkswagen is on the up.
The German company looks likely to have pipped Toyota to the title of the world’s biggest-selling automaker in 2016, despite a never-ending stream of dispiriting about its “Dieselgate” scandal.
The reason is simple: in 2015, the German group hadtwoseparate crises. In addition to the diesel woes, it had a shockingly bad year in China, its most important market outside Europe, where it initially missed a shift in consumer preferences towards sport utility vehicles and crossovers.
In 2016, as Dieselgate dominated the news flow in the U.S., VW was quietly putting its problems in China behind it: sales there rose over 12% to 3.98 million - almost 40% of a global sales total of 10.312 million,according to figures released by the company Tuesday.
To judge by the stock market’s reaction, that operational turnaround is much more important than the final acts of the Dieselgate scandal. The company’s preferred stock in Frankfurt hit its highest level since the diesel scandal broke on Tuesday in reaction to the sales news.
Dieselgate, when it broke, had initially wiped over 60 billion euros ($64 billion) off VW’s market value. But analysts’ forecasts of the likely actual damage soon coalesced around 30 billion euros. So far this year, the company has paid some $17.5 billion to settlecivil claims from the Justice Department and environmental regulators, and smooth the ruffled feathers of its U.S. dealers andcustomers. It’s also paid smaller fines in countries such asSouth Korea, which also last week becamethe first country to jail a VW executive in connection with the scandal.
Read More:Inside Volkswagen's Emissions Scandal
But the general market view is that the bulk of the financial damage from Dieselgate is now accounted for, and that outstanding lawsuits against it will still leave the total bill well short of that 30 billion euro benchmark.
How far short is another question. The company cleared up one of the biggest remaining variables on Tuesday,announcing that it is in advanced talks to settle the Department of Justice’s criminal investigationwith a guilty plea and fines of around $4.3 billion (bringing the total in U.S. settlements to $21.8 billion). That will ensure that Dieselgate hits this year’s earnings too, but the company doesn’t yet know how much by.
Resolving the U.S. criminal investigation still leaves it facing another one in Germany, as well as civil actions in both countries from investors about its failure to warn them in a timely manner of the extent of the scandal. A GermanMusterklage,a lawsuit representing an individual shareholder that could be used as a template for thousands more, was filed by law firm MyRight and accepted by a court in Braunschweig last week.
Tuesday’s announcement of an imminent settlement appears to have been precipitated by a growing body of evidence from former employees who had agreed to turn state’s evidence.
On Monday, VW’s former head of compliance in the U.S., Oliver Schmidt, was arraigned and charged with conspiring to defraud U.S. regulatorson the basis of new FBI evidence. The charges unsealed in a Florida court included a direct assertion that top management had chosen to continue lying to regulators even after Schmidt and others had briefed them on the issue of ‘defeat devices’ (designed to trick emissions testers) in July 2015.
James Liang had become the first VW employee to turn state’s evidence in Septemberas part of a plea bargain. But on Tuesday, the German newspaperSueddeutsche Zeitungreported that at least five VW employees have now turned state’s evidence, and that two of them have alleged that both VW brand head Herbert Diess and former Chief Executive Martin Winterkorn knew about the issue no later than July 2015.
Winterkorn had resigned within days of the scandal breaking in September 2015. He has always insisted that he knew nothing of the defeat devices, and that line has been central to VW’s strategy of damage limitation ever since, a strategy that has deflected blame on to a small group of supposedly rogue engineering executives below the C-suite.
A spokeswoman for VW said in an e-mailed statement that “Volkswagen continues to cooperate with the Department of Justice as we work to resolve remaining matters in the United States. It would not be appropriate to comment on any ongoing investigations or to discuss personnel matters."
VW’s statement Tuesday confirmed that it would be agreeing to a “statement of facts” about its deception. That will be closely parsed by the investors suing VW for details of who knew how much, when. That will have a big bearing on efforts to prove management complicity in keeping bad news from the stock market.
It’s still too early to say how much more such an admission could cost it. Germany has no tradition of handing down punitive fines to companies that are important employers and taxpayers. However, U.S. investors were told last week by federal judge Charles Breyer that their complaint against VW could be heard in a U.S. court too, with a nod to the German’s group’s New York-listed depositary receipts.
As such, those hoping that VW could walk away from Dieselgate with substantial change out of 30 billion euros might still end up disappointed.
UPDATE: This story has been updated to include the news of Volkswagen’s statement about talks to settle the DoJ’s criminal case.
See original article on Fortune.com
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• Here's Why Bitcoin Prices Fell Sharply Last Week || Bitcoin is fighting back: Bitcoin has recouped a good portion of its early losses. The cryptocurrency trades down 2.8%, or almost $26, at $880 a coin as of 11:05 a.m. ET. That's a notable recovery from the drop less than $853 that occurred early in US trade. Bitcoin raced above $915 late Tuesday night but struggle to take out resistance in the $880/$920 area.
The cryptocurrency has had avolatilestart to the year after gaining 120% in 2016, making it theworld's top performing currencyfor a second straight year. It raced to a gain of more than 20% in the opening days of 2017 before rumblings that China was going tocrackdownon trading began to surface.
Then, nearly a week later, China announcedit had beguninvestigating bitcoin exchangesin Beijing and Shanghai on suspicion of market manipulation, money laundering, unauthorized financing, and other issues. When the dust settled bitcoin had lost35% of its value in a handful of days. The price bottomed out after finding support in the $750/$800 area and has managed to fight its way back to the current resistance level.
(Investing.com)
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• Bitcoin is making a comeback
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[Random Sample of Social Media Buzz (last 60 days)]
MMMBTC || Share the love: @smcelligott201 @click_btc, Thank you for the retweets this week :) (Want this? It's FREE! https://bit.ly/thankyou69 ) || MMMBTC || MMMBTC || MMMBTC || #bitcoin Venezuelans Increasingly Opting for Bitcoin over Bolivar - newsBTC http://ow.ly/xcBE507Fm47 || Are Cryptocurrency Social Tipbots Dead?: The coins supported included Bitcoin, #Blackcoin… https://goo.gl/fb/sbkXKS || 10秒で登録できるビットコイン取引所。#BTC#ETH #暗号通貨#仮想通貨Coincheck→https://goo.gl/31dSqZ || Tarde Relax
#amigos #selfie #look #tarde #reptil #smile #risas https://www.instagram.com/p/BOJB0VZjKbD/ || MMMBTC
|
Trend: up || Prices: 990.64, 1004.55, 1007.48, 1027.44, 1046.21, 1054.42, 1047.87, 1079.98, 1115.30, 1117.44
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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.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Bitcoin surges to all-time high above $1,700: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Digital currency bitcoin hit a record high on Tuesday as demand for crypto-assets soared with the creation of new tokens to raise funding for start-ups using blockchain technology. Blockchain, the underlying technology behind bitcoin, is a financial ledger maintained by a network of computers that can track the movement of any asset wthout the need for a central regulator Bitcoin hit a record $1,760.40 on the BitStamp platform and was last at $1,747.89, up 6 percent on the day. So far this year, bitcoin has surged nearly 80 percent. Bitcoin's market capitalization on Tuesday soared to $52.5 billion, according to data from coinmarketcap.com. Aside from being an asset that can be traded on exchanges like stocks and bonds, bitcoin has become a mode of payment for some retailers, such as Overstock.com, and a way to transfer funds without the need for a third party. "We have an influx of new capital in the space and that capital goes back and forth among crypto-assets and bitcoin," said Chris Burniske, blockchain products leader at ARK Invest in New York, which manages exchange-traded funds. "Bitcoin is still the main liquidity provider in the market and people use it to buy other crypto-assets." That said, Minneapolis Federal Reserve Bank President Neel Kashkari has been skeptical about bitcoin's outlook, noting that blockchain has more potential for being adopted in the future than the digital currency itself. "I think sentiment has shifted in the markets, in the Fed," Kashkari said at a technology conference in Minneapolis on Tuesday. Still, a big part of bitcoin's recent surge is the increase in demand for other digital currencies being sold in so-called "initial coin offerings," or ICOs. Under ICOs, blockchain start-ups sell their tokens directly to the public to raise capital without any regulatory oversight. At least 40 start-ups have launched an ICO this year, according Smith + Crown data. "For the first time in financial history, founders can access capital from both large and small investors armed with nothing more than a slick website," said Arthur Hayes, chief executive at crypto-currency derivatives trading platform BitMEX. Analysts say the foundation for bitcoin's gains was set last July in a process called "halving," in which rewards offered to bitcoin miners shrink. That has constrained bitcoin's supply. 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 clear the transaction is rewarded with new bitcoins. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Dan Grebler) || Bitcoin surges to all-time high above $1,700: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - Digital currency bitcoin hit a record high on Tuesday as demand for crypto-assets soared with the creation of new tokens to raise funding for start-ups using blockchain technology.
Blockchain, the underlying technology behind bitcoin, is a financial ledger maintained by a network of computers that can track the movement of any asset wthout the need for a central regulator
Bitcoin hit a record $1,760.40 (BTC=BTSP) on the BitStamp platform and was last at $1,747.89, up 6 percent on the day. So far this year, bitcoin has surged nearly 80 percent. Bitcoin's market capitalization on Tuesday soared to $52.5 billion, according to data from coinmarketcap.com.
Aside from being an asset that can be traded on exchanges like stocks and bonds, bitcoin has become a mode of payment for some retailers, such as Overstock.com, and a way to transfer funds without the need for a third party.
"We have an influx of new capital in the space and that capital goes back and forth among crypto-assets and bitcoin," said Chris Burniske, blockchain products leader at ARK Invest in New York, which manages exchange-traded funds.
"Bitcoin is still the main liquidity provider in the market and people use it to buy other crypto-assets."
That said, Minneapolis Federal Reserve Bank President Neel Kashkari has been skeptical about bitcoin's outlook, noting that blockchain has more potential for being adopted in the future than the digital currency itself.
"I think sentiment has shifted in the markets, in the Fed," Kashkari said at a technology conference in Minneapolis on Tuesday.
Still, a big part of bitcoin's recent surge is the increase in demand for other digital currencies being sold in so-called "initial coin offerings," or ICOs. Under ICOs, blockchain start-ups sell their tokens directly to the public to raise capital without any regulatory oversight.
At least 40 start-ups have launched an ICO this year, according Smith + Crown data.
"For the first time in financial history, founders can access capital from both large and small investors armed with nothing more than a slick website," said Arthur Hayes, chief executive at crypto-currency derivatives trading platform BitMEX.
Analysts say the foundation for bitcoin's gains was set last July in a process called "halving," in which rewards offered to bitcoin miners shrink. That has constrained bitcoin's supply.
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 clear the transaction is rewarded with new bitcoins.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Dan Grebler) || Bitcoin could hit $100,000 in 10 years, says the analyst who correctly called its $2,000 price: Bitcoin's (Exchange: BTC=-USS) price has the potential to hit over $100,000 in 10 years, which would mark a 3,483 percent rise from its recent record high, an analyst who correctly predicted the cryptocurrency's rally this year told CNBC on Tuesday. In December, Saxo Bank published its annual report called "Outrageous Predictions" with one of the forecasts calling for bitcoin to hit $2,000 in 2017 . At the time the note was published, bitcoin was trading at around $754, so the target price represented a 165 percent rise. Bitcoin hit $2,000 on May 20 . But now, Kay Van-Petersen, the analyst behind the call, is looking long term and sees a big rise ahead for bitcoin . How will bitcoin hit $100,000 Here's how he came up with his price target in 10 years. Van-Petersen is assuming cryptocurrencies in general not just bitcoin will account for 10 percent of the average daily volumes (ADV) of fiat currency trade in 10 years. Foreign exchange ADV currently stands at just over $5 trillion, according to the Bank for International Settlements. Ten percent of $5 trillion is $500 billion. This is the ADV that cryptocurrencies could have. Bitcoin will account for 35 percent of that market share, which would that $175 billion of the $500 billion figure, he said. This would mean that $175 billion worth of bitcoin would be traded every day Also, Van-Petersen then implies that bitcoin's market capitalization would be ten times the average daily volume, giving a figure of $1.75 trillion for the market cap. The current figure is around $37.8 billion, according to data from industry website CoinDesk. Bitcoin has a limited supply of 21 million which is expected to be reached by the year 2140. In 10 years, the analyst thinks that there will be 17 million bitcoin in circulation, up from the current 16.3 million figure. If the potential 17 million of bitcoins in supply is divided by the $1.75 trillion market cap estimate, then each bitcoin would be worth just over $100,000. Story continues Bitcoin 'not a fad' Van-Petersen who owns bitcoin emphasizes that this is a rough calculation but that his growth predictions could be "conservative" given that in the year 2013 alone, bitcoin's price grew over 5,000 percent. The analyst said that cryptocurrencies will survive in the long run. "This is not a fad, cryptocurrencies are here to stay," Van-Petersen told CNBC in a phone interview. "There will emerge two to three main ones. Bitcoin will be one of those. And the reason is the first-mover advantage, the scale and the pioneering." Van-Petersen's views are not the official view of Saxo Bank, the analyst said. Bitcoin's bad reputation The bitcoin industry has had its fair share of problems and reputational damage. The digital currency has often had an image of being used for illegal means such as buying drugs online. The collapse of Mt.Gox in 2014 , once the world's largest bitcoin exchange, is still fresh in the minds of users. Some members of the exchange are still waiting for compensation. More recent issues include some exchanges not allowing people to withdraw their money in fiat currency. On top of this, the view of bitcoin as a currency for criminals is still prevalent after the major WannaCry ransomware cyberattack saw hackers lock peoples' files and ask for bitcoin in exchange to unlock them. Still, Van-Petersen says that the industry is still extremely young and big improvements will come. A few factors will boost bitcoin adoption including better wallets, easier methods to buy the digital currency, use of it for money transfers in areas like remittances, as well as citizens of countries with volatile economies and currencies buying it. "Volumes are going up, volatility is going down. A lot of people talk about the volatility, but if you are in Zimbabwe or Venezuela, this volatility is nothing. This is the interesting thing to me. I think in the West, a lot of people view it is as speculative, but emerging markets will get it, their needs will be different," Van-Petersen added. While Van-Petersen is offering one way to value bitcoin in the future, others say that there are other factors to take into consideration. "It's one way of slicing the pie to try and predict future prices which always relies on a lot of assumptions," Charlie Hayter, CEO of industry website CryptoCompare, told CNBC by email. "Equating volumes to price value is one method of attempting a valuation, but it doesn't take into account the fundamentals of the ecosystem." The fundamentals of what bitcoin is capable of from a technical point of view and how regulation is molded around its use will determine its value too, Hayter added. More From CNBC Bitcoin is outperforming major assets but hedge funds are still staying away Bitcoin correction sees nearly $4 billion wiped off value of the cryptocurrency Op-Ed: Bitcoin is more akin to the Nasdaq than gold and is not a safe haven asset || CEO of US Gold Corp. Talks about Recent Update on Keystone Property and Why Geopolitical Factors Make this an exciting time for Gold Investors: POINT ROBERTS, WA and DELTA, BC --(Marketwired - June 08, 2017) - Investorideas.com, a global news source covering leading sectors including mining stocks releases an exclusive podcast interview with Edward Karr, the President, CEO and Chairman of US Gold Corp. ( DRAM ) following a recent update from the Company. Hear the full interview with Edward Karr, President, CEO and Chairman of US Gold Corp http://www.investorideas.com/Audio/Podcasts/060717-DRAM.mp3 US Gold Corp.'s recent press release detailing the exploration results of their Keystone property indicates exciting prospects for the site.( https://finance.yahoo.com/news/us-gold-corp-provides-2016-162611086.html ) The Keystone project, which was acquired in its entirety by US Gold Corp. in May 2016, comprises 479 claims over an area of roughly 15 square miles. It is located on the Cortez Trend about 10 miles south of the "Pipeline" and "Cortez Hills" sites, which are two of the largest mines in North America boasting 20-25 million ounces of gold reserves and 15 million respectively. Edward Karr, the President, CEO and Chairman of US Gold Corp, ( DRAM ) said that the findings of the 2016 exploration team evidence strong geological similarities between Keystone and those other sites which have the company very excited for the future of the project. "Our entire team believe that the geology, the stratigraphy of the rocks on Keystone look to be very similar to Cortez Hills and Pipeline to the north," he said. "We think that this can be a very prospective property." According to Karr, a huge asset to the team is US Gold Corp. Vice President and Head of Exploration Dave Mathewson. Mathewson, a geologist and explorer, has over 35 years of exploration experience in Nevada alone. "Dave Mathewson is really one of the premier exploration geologists in Nevada and North America," he said. "He has a real methodology that he goes through for exploration success time and time again. He likes to identify these real grassroot opportunities and then he comes in with modern exploration techniques." Story continues In a quote from US Gold Corp.'s recent press release, Mathewson expressed confidence in the company's prospects at Keystone. "The best gold deposit districts in the world lie within north-northwest trending structural breaks, indicated by right lateral dislocations in the Sr. 706 line, along the flank of the Paleozoic continental margin in Nevada," Mathewson said. "US Gold Corp. controls one of the best gold projects in Nevada." Karr feels that the market for gold in general looks promising, with prices higher than they've been for some time, and the performance of cryptocurrencies possibly being a positive indication of the future of gold. "We are a stone's throw away from $1300 an ounce -- this is a seven month high," he said. "When I look and I see these cryptocurrencies like Bitcoin and Ethereum at all times highs, it's amazing the runs they've had. I think those are canaries in the coalmine for something to come in the precious metals sector." About US Gold Corp. US Gold Corp is a publicly traded U.S. focused gold exploration and development company. US Gold Corp has a portfolio of development and exploration properties. Copper King is located in South East Wyoming and has a historical Preliminary Economic Assessment (PEA) done by Mine Development Associates in 2012 for Strathmore Minerals Corporation. Keystone is an exploration property on the Cortez trend in Nevada, identified and consolidated by Dave Mathewson. For more information about US Gold Corp, please visit www.usgoldcorp.gold Dataram is an independent manufacturer of memory products and provider of performance solutions that increase the performance and extend the useful life of servers, workstations, desktops and laptops sold by leading manufacturers such as Dell, Cisco, Fujitsu, HP, IBM, Lenovo and Oracle. Dataram's memory products and solutions are sold worldwide to OEMs, distributors, value-added resellers and end users. Additionally, Dataram manufactures and markets a line of Intel Approved memory products for sale to manufacturers and assemblers of embedded and original equipment. 70 Fortune 100 companies are powered by Dataram. Founded in 1967, the Company is a US based manufacturer, with presence in the United States, Europe and Asia. For more information about Dataram, visit www.dataram.com . US Gold Corp. ( DRAM ) is a featured mining stock on Investorideas.com Visit the company profile on Investorideas.com http://www.investorideas.com/CO/DRAM/ To hear more Investorideas.com podcasts visit: http://www.investorideas.com/Audio/ . Investorideas.com podcasts are also available on iTunes, Google Play Music, Stitcher and Tunein. Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp . Disclosure: US Gold Corp. ( DRAM ) is a paid PR, media and news client effective June 2 107 for 2 months || 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)
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• South Korea requires all males to serve in the military — here's what it's like || Buffett partner Charlie Munger says Al Gore is ‘an idiot’ but became rich with this strategy: Warren Buffett's top lieutenant,Charlie Munger, told a small group of investors that the simple strategy of buying only service company stocks made former Vice President Al Gore very wealthy."Al Gore has come into you fellas business. ... He has made $3 or $400 million in your business. And he's not very smart," Munger said at the Daily Journal annual meeting on Feb. 15. "He had one obsessive idea that global warming was a terrible thing. … So his idea when he went into investment counseling is he was not going to put any CO2 in the air."
Though the comments were made more than four months ago, they went largely unnoticed and have not been widely reported on elsewhere.
Hedge fund manager Whitney Tilson in one of his email newsletters pointed to theYouTube videosof Munger's informal question-and-answer session held after the Journal meeting, and otherinvestorshave confirmed the subject matter of the talk.Munger is one of the most celebrated investors in the world and was an essential partner inBuffett's success. Before becoming vice chairman of Berkshire Hathaway(BRK-A), the billionaire had quite thetrack recordhimself. From 1962 to 1975 Munger's investment partnership generated 20 percent annual returns versus the S&P 500(^GSPC)'s 5 percent.He also shared more details on how Gore became successful in the money management business:
"So he found some partner to go into investment counseling with and says we're not going to have any (carbon dioxide). But this partner is a value investor and a good one. So what they did is, is Gore hired staff to find people who didn't put CO2 in the air. Of course that put him into services. Microsoft(MSFT)and all these service companies were just ideally located. And this value investor picked the best service companies. So all of a sudden the clients are making hundreds of millions of dollars and they are paying part of it to Al Gore. Al Gore has hundreds of millions dollars in your profession. And he's an idiot. It's an interesting story. And a true one."
Gore is co-founder and chairman of Generation Investment Management. The firm has more than $15 billion of assets under management and focuses on investing in low-carbon generating sustainable companies, according to itswebsite.
One of its main funds beat the S&P 500's return by more than 6 percentage points per year during the last the five years, according to a March 2017 Barron'sarticle.
Munger said the strategy of buying only service companies helps investors avoid capital-intensive firms, which have weaker business models and are less profitable."Inventories, receivables are all kinds of horrible things in business. If you just buy service companies, you can avoid them. And it's amazing how it has worked for this guy that does [leveraged buyouts] just the way it worked for Al Gore," he added.
Berkshire Hathaway did not immediately respond to a request for comment. Generation Investment Management declined to comment.The YouTubevideowith Munger's service investing strategy comments had less than 3,000 views as of Friday morning.
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• Last stand for active managers is in bonds || Mark Zuckerberg joins Silicon Valley bigwigs in calling for government to give everybody free money: Facebook (NASDAQ: FB) CEO Mark Zuckerberg called on the need to consider universal basic income for Americans during his Harvard Commencement Speech. Zuckerberg's comments reflect those of other Silicon Valley bigwigs, including Sam Altman, the president of venture capital firm Y Combinator. "Every generation expands its definition of equality. Now it's time for our generation to define a new social contract," Zuckerberg said during his speech. "We should have a society that measures progress not by economic metrics like GDP but by how many of us have a role we find meaningful. We should explore ideas like universal basic income to make sure everyone has a cushion to try new ideas." Zuckerberg said that, because he knew he had a safety net if projects like Facebook had failed, he was confident enough to continue on without fear of failing. Others, he said, such as children who need to support households instead of poking away on computers learning how to code, don't have the foundation Zuckerberg had. Universal basic income would provide that sort of cushion, Zuckerberg argued. Altman's view is similar. A year ago, Altman said he thinks "everyone should have enough money to meet their basic needs—no matter what, especially if there are enough resources to make it possible. We don't yet know how it should look or how to pay for it, but basic income seems a promising way to do this." Altman believes basic income will be possible as technological advancements "generate an abundance of resources" that help decrease the cost of living. Also see: Mark Zuckerberg: Success comes from 'the freedom to fail,' so billionaires like me should pay you to do that WATCH: Facebook's Mark Zuckerberg delivers Harvard graduation speech More From CNBC Bitcoin rival Ripple is sitting on many billions of dollars worth of currency GameStop shares tank despite earnings beat Bitcoin rival ethereum is headed for a 38% correction, analyst says || Nike is reportedly close to making a huge move that should terrify Dick's, Foot Locker, and Under Armour: Nike (Nike may finally break through online by selling on Amazon.Facebook/Nike) The world's largest sportswear maker and the world's largest online retailer might finally work together. In its tooth-and-nail fight to staunch ebbing sales, Nike may finally embrace Amazon soon and sell directly on Amazon.com, according to analysts at Goldman Sachs. "Our channel checks indicate [Nike] could be close to commencing a direct relationship selling product on Amazon.com," the Goldman Sachs analyst note reads. For Nike, there are tangible benefits from selling directly on Amazon. The company's shoes, apparel, and accessories are already sold on Amazon, but from third-party sellers and unlicensed dealers that purchased the product wholesale from Nike. Selling directly on the site eliminates a layer between Nike and the consumer, allowing the company to better control pricing and presentation. It's not quite direct to consumer, but it's a lot closer. Goldman sees it as a deal worth potentially up to $500 million of revenue yearly — an additional 1% of global sales for the Nike. Nike's biggest competitors — Adidas and Under Armour — already sell directly on Amazon, and they both have fancy splash pages that highlight the the newest and best product the companies have to offer. Nike currently has no such thing, giving both competitors have an advantage on the site. Offering directly on Amazon also gives Nike's direct-to-consumer business even better access to younger consumers — millennials — who shop more often on Amazon than other groups. Selling on Amazon may also serve to replace physical sports retailers that have gone bankrupt in recent years, like Sports Authority. Dick's Sporting Goods and Foot Locker, some of Nike's biggest retailers, were both down in early market trading on the news of the increasing competition. Dick's neared an 18 month low, while Foot Locker fell below a three-year-low, according to Reuters . NOW WATCH: HENRY BLODGET: Bitcoin could go to $1 million (or fall to $0) More From Business Insider Whole Foods keeps signaling the death of the brand as we know it Amazon's rivals 'will do anything' to make the company pay more for Whole Foods WHOLE FOODS CEO: We focused on employees at the 'expense of our customers' || Will We Finally See a Bitcoin ETF?: Bitcoin is back on the table. After rejecting the filing for an ETF on this cryptocurrency by Winklevoss Bitcoin Trust, the SEC is reviewing its decision once again. The proposal actually involved listing the ETF on the Bats BZX exchange, one of the largest U.S. equities market operator (read: No Bitcoin ETF Says SEC: What's Next?).
Now that Bats’ petition to the SEC to reconsider the decision, has been accepted by the authority, a new-found optimism has been noticed in the space. Apart from this fact, there was another tailwind that recently made bitcoin a hot investment. As per an article published on CNBC, “Japan legalized the cryptocurrency as a payment method recently and this has led to a greater amount of bitcoin being bought with yen.”
The Russian government is also expected to make cryptocurrencies legal financial instruments in 2018, as per the source. Minneapolis Fed President Neel Kashkari pointed to the strength of the blockchain technology supporting bitcoin lately.
Overall, the currency has been firing on all cylinders since the beginning of 2017. Most recently, the currency surpassed the mark of $1,700. Its value beat the $900 mark in late December for the first time since February 2014. In mid-2015, the currency was at around $200 (read: Explaining Bitcoin and Crypto Currency).
What is Bitcoin?
Bitcoins are ‘mined’ by using a greater amount of computer processing power. However, since there is a fixed amount of bitcoins, it becomes hard to ‘mine’ for the coins when the limit is reached. The best part of this system is that it is beyond the reach of central banks (read: Believe It or Not: Winklevoss Bitcoin ETF on the Horizon).
What Lies Ahead?
The tussle between the U.S. Securities Exchange Commission and Winklevoss over the launch has been going on for about three years. In fact, the issuer has restructured the proposal for the Bitcoin ETF multiple times.
The currency is in the limelight probably because of the fact that “bitcoin isn’t regulated by any government and has been used by consumers worldwide to shelter assets from inflation or political upheavals in their home countries.” As per an article published on CNBC, Bitcoin is emerging as a safe haven asset like gold.
WithSPDR Gold SharesGLD coming under pressure due to rising rate prospects in the U.S. and a likely higher greenback, one can possibly find refuge in seemingly safe or alternative assets like bitcoin.
The operating backdrop may be strengthening for bitcoin, but the SEC is seemingly looking for more proof of the safety in this trade. Plus, after the refusal in March, chances of a SEC approval in the near term is less likely, unless and until further changes are probably done in the proposed fund.
As of now, investors probably have to be happy with traditional safe-haven assets and gold and silver bullion ETFs like GLD andiShares Silver TrustSLV (read: 3 Safe-Haven ETFs to Watch on Market Correction).
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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 reportSPDR-GOLD TRUST (GLD): ETF Research ReportsISHARS-SLVR TR (SLV): 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 || Bitcoin just soared to a new $1,600 high but the first investor in Snapchat thinks it could hit $500,000 by 2030: Jeremy Liew (Jeremy Liew.Getty) Bitcoin has been the top-performing currency in the world in six of the past seven years, climbing from zero to a new high value of about $1,600. But the cryptocurrency isn't anywhere close to its potential, according to Jeremy Liew, the first investor in Snapchat , and Peter Smith, the CEO and cofounder of Blockchain. In a presentation sent to Business Insider, the duo laid out their case for bitcoin exploding to $500,000 by 2030. Their argument is based on increased interest in bitcoin, thanks to: Bitcoin-based remittances Remittance transfers, or electronic money transfers to foreign countries, have almost doubled over the past 15 years to 0.76% of gross world product, data from the World Bank shows. "Expats sending money home have found in bitcoin an inexpensive alternative, and we assume that the percentage of bitcoin-based remittances will sharply increase with greater bitcoin awareness," the two said. Uncertainty Liew and Smith said increased political uncertainty in the UK, US, and developing nations would help elevate the level of interest in bitcoin. "We believe bitcoin awareness, high liquidity, ease of transport, and continued market outperformance as geopolitical risks mount will make bitcoin a strong contender for investment at a consumer and investor level," the two said. Mobile penetration Liew and Smith said the percentage of noncash transactions would climb from 15% to 30% in the next 10 years as the world becomes more connected through smartphones. The global smartphone penetration rate is 63%, and the total number of smartphone users is expected to increase by 1 billion by 2020. The GSMA, a trade body that represents the interests of mobile operators worldwide, says 90% of these users will come from developing countries. This would make it possible for nearly everyone to have a bank in their pocket, and that should provide a boost for bitcoin as well. Liew and Smith say bitcoin could account for 50% of all noncash transactions. Story continues Here are the basic model drivers Liew and Smith used: A bitcoin price of $1,000 in 2017. Network users will grow by a factor of 61 from now until 2030. "Put another way, we need a population of bitcoin users around a quarter of the Chinese population (or 5% of the global population) in 2030 to see bitcoin at $500k," Liew and Smith told Business Insider. Bitcoin's user network grew from 120,000 users in 2013 to 6.5 million users in 2017, or by a factor of about 54, and this could be just the beginning. Growth of that magnitude would mean 400 million users in 2030. The average value of bitcoin held per user will hit $25,000. "As institutional investor cash in bitcoin, sophisticated investors trading bitcoin, and bitcoin-based ETFs proliferate, we think the average bitcoin value held will increase to around $25k per Bitcoin holder," Liew and Smith said. Currently, with bitcoin's market cap of $16.4 billion, each of its 6.5 million users holds $2,515 worth of bitcoin on average. Bitcoin's 2030 market cap is decided by the number of bitcoin holders multiplied by the average bitcoin value held. Bitcoin's 2030 supply will be about 20 million. Bitcoin's 2030 price and user count will total $500,000 and 400 million, respectively. The price was found by taking the $10 trillion market cap and dividing it by the fixed supply of 20 million bitcoin. But a lot could go wrong, too. News surrounding bitcoin has been rather negative as of late. China, which is responsible for nearly 100% of trading in bitcoin, has been cracking down on trading. The three biggest exchanges recently announced a 0.2% fee on all transactions and blocked withdrawals from trading accounts. The US Securities and Exchange Commission also rejected two bitcoin exchange-traded funds and will rule on another one in the future. It's not expected to be approved. However, Smith says bitcoin is still in its early stages. "The SEC's ruling wasn't a surprise to us," he told Business Insider. He said that "getting that sort of approval" could take a long time. "In the meantime, bitcoin is already simple to buy and hold, and as the asset continues to mature, we'll continue to see an increase in the development and deployment of surrounding products," he said. Bitcoin (Markets Insider) And while bitcoin hasn't been granted regulatory approval in the US, it is catching on elsewhere. On April 1, the cryptocurrency became a legal payment method in Japan . Another threat to its future is developers who are threatening to set up a " hard fork ," or alternative marketplace for bitcoin. This would result in the split of into bitcoin and bitcoin unlimited. However, Smith isn't worried. "Bitcoin has strong economic incentives to prevent this," he said. "If the last two years of healthy contention and debate lead to a conclusion, it's that bitcoin is incredibly resilient and stable. In fact, the bitcoin blockchain has operated for seven-plus years with no downtime, a feat no other back-end system operating at this scale can claim." But the cryptocurrency sees violent price swings uncommon among the more traditional currencies. Bitcoin rallied 20% in the first week of 2017 before crashing 35% on word that China was cracking down on trading. The cryptocurrency has regained those losses and is trading up about 67% so far this year. NOW WATCH: People are outraged by a Pepsi ad starring Kendall Jenner here's how the company responded More From Business Insider The price of Bitcoin just hit an all new high here's how easy it is to buy your first one Bitcoin is closing in on $1,500 Bitcoin busts out to an all-time high above $1,400
[Random Sample of Social Media Buzz (last 60 days)]
$1958.48 at 16:17 UTC [24h Range: $1898.00 - $1989.00 Volume: 12875 BTC] || I was right about Bitcoin then, and I am right about Bitcoin now, and the precise form of business model to distribute it. Mark it well! || Major bitcoin exchanges hit by cyberattacks as record rally makes them a target http://www.cnbc.com/id/104526900 || BitcoinCasino.us Offers a Welcome Bonus of Up To 5,000 mBTC #Paypal #Bitcoin - http://cur.lv/14ryc3 pic.twitter.com/N7wO9RbtIZ || http://bit.ly/kAjX7821 The new lottery win #BTC $ltc $xrp $xmr $dgb $str $sia $eth $zec $crypto $doge Free Ticket 10 BTC jackpot 5:43:47 || 1 KOBO = 0.00000684 BTC
= 0.0159 USD
= 5.1198 NGN
= 0.2046 ZAR
= 1.6401 KES
#Kobocoin 2017-06-15 18:00 || BTC Real Time Price: ThePriceOfBTC: $2995.96 #GDAX;
$2979.40 #bitstamp;
$2872.00 #btce;
$2970.70 #gemini;
$2943.45 #kraken;
$3069.90 #cex; || 1/ "wire" involves a bank. You can just send $1m of BTC over the blockchain anonymously. Your real question: || One Bitcoin now worth $1287.99@bitstamp. High $1330.00. Low $1265.00. Market Cap $20.986 Billion #bitcoin pic.twitter.com/vjzgzblW3A || Retweeted HealthRanger (@HealthRanger):
New #bitcoin investors should consider the flash #crash of ’13 before...http://fb.me/14jVSYQ69
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Trend: no change || Prices: 2589.41, 2478.45, 2552.45, 2574.79, 2539.32, 2480.84, 2434.55, 2506.47, 2564.06, 2601.64
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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 2015-09-10]
BTC Price: 238.48, BTC RSI: 49.44
Gold Price: 1109.50, Gold RSI: 42.99
Oil Price: 45.92, Oil RSI: 52.39
[Random Sample of News (last 60 days)]
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. || Betting On More Than The Game During Football Season: On Thursday, the New England Patriots will host the Pittsburgh Steelers for the 2015 NFL Kickoff Game. The game marks the beginning of the National Football League's regular season and despite several high-profile scandals, the league's sponsors are ready and willing to shell out millions to be a part of the 2015-2016 season.
Sponsorship Up
This year the league expectssponsorship revenueto rise to over $1.3 billion; around a 15 percent increase. That figure is supported by the NFL's largest sponsorsVerizon Communications Inc.(NYSE:VZ), which spends around $250 million,PepsiCo(NYSE:PEP) which shells out $200 million, andAnheuser-Busch InBev(NYSE:BUD) andMicrosoft Corporation(NASDAQ:MSFT) which spend around $100 million each to be a part of the season.
Who To Watch?
While big investments mean more exposure to the masses of U.S. football fans, there are several other companies with their fingers in the football jar who stand to benefit.Under Armour Inc(NYSE:UA) is expected to see a boost this year after the company expanded its sponsorship deal with the NFL to provide cleats and gloves on game days. Athletic apparel giantNike Inc(NYSE:NKE) will also benefit from this year's football season as the company hassigned onto be the league's official jersey provider through 2019.
Related Link:NFL, CBS Cater To Viewers Who Are Cutting The Cord
As far as telecoms go, the NFL is likely to bring in big bucks for bothWalt Disney Co(NYSE:DIS) andCBS Corporation(NYSE:CBS). Disney owns ESPN, a premium channel that sports fans around the US subscribe to. Despite a shift toward online streaming, many analysts believe that the channel will be able to continue attracting customers with favorite programs like "Monday Night Football" and new offerings that bridge the gap between online streaming and traditional cable
CBS is also a big winner when it comes to football as the company holds the broadcasting rights for Super Bowl 50 in February. Earlier this year, the company saidadvertisers are willingto pay up to $5 million for a coveted 30-second spot during the big game, a major revenue booster for the telecom.
NFL Struggles To Renew Its Image
However, some investors are cautious ahead of this year's football season as the NFL has been the center of several controversies over the past few months. A survey by YouGov BrandIndex showed that the NFL's brand appeal fell to just 7 from a score of 17 last year. Much of that decline can be associated with accusations of unfair practices between top teams and negative press following players' personal problems.
While the league hasn't shown any signs of slowing down in the wake of several controversial scandals, some believe that big brands associated with the NFL could suffer if the organization doesn't start to crack down on poor behavior.
Image credit: Larry Maurer, Wikimedia
See more from Benzinga
• McDonald's Goes Cage Free In Latest Attempt To Turn Image Around
• Colorado Prepares For Green Wednesday
• Wall Street Joins The Bitcoin Movement
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Overstock to Buy SpeedRoute for More Transparent Trading: Online retailerOverstock.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 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 reportAMAZON.COM INC (AMZN): Free Stock Analysis ReportOVERSTOCK.COM (OSTK): Free Stock Analysis ReportSTAMPS.COM INC (STMP): Free Stock Analysis ReportTRAVELPORT WWD (TVPT): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || Winklevoss twins file paperwork to operate Gemini bitcoin exchange: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Investors Tyler and Cameron Winklevoss earlier this week filed paperwork to operate a bitcoin exchange called Gemini for both individual and institutional investors in New York state, a spokeswoman said on Friday. The twins, best known for accusing Facebook Inc founder Mark Zuckerberg of stealing their idea, want to make the digital currency mainstream in the United States. Unlike conventional money, bitcoin is bought and sold on a peer-to-peer network independent of central control. Bitcoin is not backed by a government or central bank and its value fluctuates according to demand by users. The Winklevoss brothers filed an application on July 21 with the New York State Department of Financial Services to operate as a trust company. ItBit also filed a trust application in New York in February. In May, it became the first virtual currency company to receive a charter in the state. A trust company is a type of financial institution technically different from a bank, according to a blog by Houman Shadab, an expert on bitcoin regulations and a professor at the New York Law School. Under New York state's banking law, a trust company has all the powers of a bank to take deposits and make loans, alongside certain fiduciary powers such as acting as an agent for governmental bodies, he wrote. Examples of trust companies in New York include securities custodian the Depository Trust Company, the wealth and asset manager Northern Trust, and the Bank of New York Mellon. Last year Mt. Gox, a Tokyo-based bitcoin exchange, was forced to file for bankruptcy after hackers stole an estimated $650 million worth of customer bitcoins. Bitcoin's value has been highly volatile, having peaked at over $1,200 in late 2013 before crashing after the Mt. Gox attack. One bitcoin is currently worth around $289 on the BitStamp platform. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Lisa Shumaker) || Bitnet and BlockCypher Announce Deal to Remove Risk in Accepting Bitcoin: BELFAST, UNITED KINGDOM and SAN FRANCISCO, CA--(Marketwired - Jul 16, 2015) - Bitnet , an enterprise bitcoin payments processor, today announced that they have selected BlockCypher , a blockchain web services company, as a key data provider to help Bitnet mitigate the risk for merchants in accepting bitcoin payments. Bitnet's new 'Instant Approval' service addresses the challenge faced by merchants of waiting for bitcoin transactions to be confirmed on the blockchain. This process can take over an hour if merchants require guarantees from their payment processor that transactions will be settled. Drawing on the long industry experience of their team in managing online payment risk for merchants, Bitnet has built a solution that calculates the probability of whether a bitcoin transaction will ultimately confirm on the blockchain. Significantly, Bitnet takes financial liability for that decision. The 'Instant Approval' service relies on a number of data points, crucial to which are BlockCypher's double-spend detection and transaction propagation metrics. The new 'Instant Approval' service enables merchants to accept bitcoin within their existing checkout flows that are typically built around accepting card payments, where authorizations that guarantee funds are provided within seconds. "We are delighted to work with Bitnet," said Catheryne Nicholson, CEO at BlockCypher. "Their expertise in the intricacies of enterprise payments can unlock bitcoin's potential in very large-scale industries that experience a high volume of chargebacks." "One of the biggest challenges for merchants wanting to accept bitcoin is how to accommodate the delayed confirmation times into their 'real-time' checkout flows and still be assured of being funded," said Seamus Cushley, VP Product at Bitnet. "We partnered with BlockCypher to provide key data for our 'Instant Approval' service due to their best-in-class metrics and enterprise service." The two companies have been collaborating for the last six months to make this deal happen. It's an example of the philosophy both companies share of working together to collectively further the Bitcoin ecosystem, also echoed in Bitnet's core values: "If you want to travel fast, travel alone. If you want to travel far, travel together. Let's do this together." About Bitnet: Bitnet provides a digital commerce platform enabling enterprise-scale merchants to accept bitcoin payments. Bitnet's engineering, product, and business development team helped build and manage the world's largest payment gateway, CyberSource, which was sold to the world's largest payment network, Visa, for $2 billion in 2010. Bitnet has offices in San Francisco, California; Belfast, Northern Ireland; and Singapore. For more information visit https://www.bitnet.io . About BlockCypher: BlockCypher helps companies easily build reliable block chain applications, exposing simple web APIs for developers to build on. BlockCypher runs multiple block chains on the same infrastructure, including their own block chain. BlockCypher provides a cloud-optimized enterprise-grade block chain platform with no single point of failure, linear scaling, and uptimes >99.99%. BlockCypher's office is in Redwood City, California. For more information, visit http://www.blockcypher.com . || 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 Latest News Video Personal Finance || Time-Release Capsules Make Medical Marijuana More Approachable: Colorado-based Wana Brands got its start making edible marijuana products. When using pot became more and more socially acceptable across the United States, the company recognized that there was a large percentage of the population that would be interested in trying the drug, but not smoking it. The company's edibles make marijuana less intimidating for non-smokers and appeal to a wider range of customers. Medical Marijuana With medical marijuana gaining legalization in several states across the US, Wana Brands looked to create a new product that would similarly make medical marijuana use more approachable for those who had little or no exposure to the drug. To fill that gap, the company has developed an extended release pill that delivers doses of the drug to a patient's system over the course of 12 hours. Each capsule contains two measured doses; one that takes effect soon after ingestion and another that activates several hours later. Related Link: Technology Proves Invaluable For Marijuana Industry Making Pot More Medical The capsules, Wana owner John Whitman said, are a good way for the medical marijuana industry to change its image and be considered as a serious treatment option. Many people are skeptical about marijuana use for treating diseases because most of the delivery methods appear recreational. Eating a pot brownie to cope with muscle spasms or smoking a joint to deal with anxiety can make potential patients skeptical about the drug's benefits. However, time release capsules make marijuana treatments more comparable to being prescribed a traditional medicine. Many believe that products like this one and could help propel the medical marijuana market into more states. See more from Benzinga Greeks Begin To See An Opportunity In Bitcoin LendingRobot And Lending Club Aim To Automate Investing Donald Trump Making Powerful Enemies In Silicon Valley © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Is NASDAQ Going Green?: On Monday, the marijuana-themed networking companyMassRoots Inc(OTC:MSRT) announced its plans to become thefirst cannabis-based companyto 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 likeGW 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. || Inside the 'conspiracy' that forced Dov Charney out of American Apparel: This is the story of how Dov Charney, founder of American Apparel, was kicked out of his own company. Sources inside the board meeting describe how Dov Charney's own directors ambushed him with a secret plot to remove him from the company. The board collected personal, texts, emails, and photos to create a dossier of Charney's habit of using company computers to "graphically document his sexual liaisons,” and used that as a bargaining chip against him. A secret internal investigation of Charney was conducted after the company was forced to settle a defamation lawsuit brought by a model he had been sleeping with. The company's CFO hatched a secret plan to sell the company without Charney's permission - but accidentally left a copy of the plan on an office photocopier. The company filed an SEC disclosure stating it wanted Charney to continue as chief when insiders knew the board was already discussing his removal. Charney signed up a hedge fund, Standard General, to back him in his fight to keep control of the company — but ultimately concluded the fund betrayed him. And Charney's prediction on the day he was fired came true: Without him, the company went into a death spiral. Dov Charney American Apparel (Dov Charney poses at The NASDAQ Stock Market in Times Square to ring the closing bell on September 15, 2006, in New York City.Mat Szwajkos/Getty Images) Dov Charney was feeling pretty good when he entered the conference room high up inside the Skadden Arps offices in Times Square. He was going to tell his board of directors — perched at eye level with the rooftops of Manhattan’s forest of midtown skyscrapers — that for the first time in years American Apparel's troubles were behind it. It was June 18, 2014, and, as CEO, Charney had just generated a record year of revenues for the fashion retailer — $634 million, an increase of 3%. And same-store sales were up 3%, too. He had also fixed problems at a massive product-distribution center that had crippled the company’s supply lines for months, crushing sales and driving up expenses. Story continues His lawyers had settled or dismissed several lawsuits from former employees and models alleging that Charney had sexually harassed them. One suit, which alleged Charney kept a model locked in his house for sex, turned out to be bogus. And he had staged a public offering of new stock that had raised $28.5 million, saving the company from bankruptcy. There was nothing but good news to deliver. So Charney, carrying a new running shoe he had designed, began the meeting with a presentation about how he was going to launch a line of sneakers. He laid about six of them out on the table. Within seconds he was interrupted by Allan Mayer, American Apparel’s board chairman. Mayer pushed the shoes aside. “Look, there’s something else we want to talk about,” Mayer said, according to a source who was in the room. He passed a couple of pieces of paper over the table to Charney. It was a termination letter. The board was firing Charney, the company's founder and CEO, who had led American Apparel for 25 years. The memo, later filed in court, alleged a long list of misdeeds by Charney: It said he allowed an employee to publish a blog defaming other former employees; he had given severance packages to several employees in order to stop them from suing; he refused to attend sexual-harassment training; he used company money for personal expenses, such as providing travel for family members. All of the above had significantly increased the company’s legal and insurance bills, the letter alleged: “You engaged in conduct that repeatedly put yourself in a position to be sued by numerous former employees for claims that include harassment, discrimination and assault.” “It was clear he was totally blindsided by this — he didn’t have a clue,” one person who was in the room says. Charney went ballistic: “This company will fall apart if I’m not running it!” Dov Charney (Dov Charney paces inside a conference room in the Skadden Arps building after learning that the board wants him out.Dov Charney) Hedge funds and porn stars This story is based on multiple accounts from people close to Charney, the board, American Apparel employees, and the company’s major shareholders. Several lawsuits have been filed over Charney’s removal, and evidence alleged in that litigation has been used to tell this story, too. Business Insider has also seen confidential documents, emails, photos, and texts associated with the litigation. Because of the fierce fighting — Charney has filed four lawsuits, and two employees and the company have all filed one each — no one wanted to talk on the record for this story. But people had plenty to say privately. What follows is an account of how the tide inside American Apparel began to turn against Charney in January 2014. It details how the board held secret discussions for weeks as it agonized over whether to get rid of him. It describes how his CFO allegedly sketched out a plan to oust Charney, and how that sketch was then obtained by Charney’s loyalists and used as evidence of the coup. (The plan has since been described in court filings.) And it describes how Charney was persuaded to sign a disastrous settlement that left him with no job and no control of the company, despite being the largest shareholder. American Apparel (Thomas Alleman) Today, Charney is distraught, enraged, humiliated, and vengeful. For years, he was the crown prince of the sexiest fashion company in America. He socialized with the hedge fund executives who funded his company. He did photo shoots with porn stars. His marketing budget was one of the largest in the retail-apparel business. His ads made headlines because they used ordinary women instead of professional models, and because they walked the line in terms of nudity. His girlfriends were the women in those ads, and many of them were decades younger (he is 46). He was a millionaire. He owned a beautiful house, high on a hill in Silver Lake, with a balcony overlooking the Los Angeles skyline. He was an impish, mad genius whose real life was like a male midlife-crisis fantasy. In person, Charney is by turns infuriating, charming, arrogant. He can cycle through manic and depressive phases within a single sentence. His retail empire was built with his own hands, in round-the-clock workdays, across three decades. Everyone who knows him agrees the success of American Apparel is 100% because of Charney. He is the epitome of hard work, old-school Jewish garment-trade moxie, and the American dream, all rolled into one. But that wasn’t enough to protect him. Secret dossier of sexual liaisons Allan Mayer (Board chairman Allan Mayer.WorldCommForumDavos / YouTube) It started with a board-commissioned investigation into Charney’s activities as CEO, conducted without his knowledge, which lasted four months. That probe eventually led to the creation of a dossier that has yet to be made public. It has been seen by only a few people inside the company, but two board members recently described some of it in court filings, and it is explosive. It allegedly details “Charney’s use of electronic storage media belonging to the Company for personal purposes to graphically document his sexual liaisons,” some of which occurred in his office. The company has alleged in court that it includes his personal, texts, emails, and photos. It also allegedly includes evidence of a police complaint filed by one model who claims she was sexually assaulted by Charney — a claim he denies. He was never charged. Charney believes he is the victim of a conspiracy, a palace coup in which his board filed false disclosures to the SEC saying they supported him as CEO while they were actually maneuvering to oust him. Charney also argues that the investigation was biased because it was conducted by people who wanted him out, and that he has never been charged with any crime or found guilty or liable for any of the accusations against him. Dov Charney (REUTERS/Mario Anzuoni ) The board has yet to make the photos and messages public. In March, the SEC said it is investigating the company and its termination of Charney. The board denies wrongdoing. The outcome of the federal investigation could be crucial in determining whether Charney can get his company back. Since he was ousted, sales at the company have gone into free fall and it again faces bankruptcy . 'All of you are cowards — every single one of you' american apparel charney_apres_ski_ad (Charney, in one of his own ads.American Apparel) In the conference room in New York, Charney began to read the termination letter and make line-by-line protests against its allegations. After about an hour he texted Iris Alonzo, a longtime creative director who was working in the hallway outside, oblivious to what was happening to her boss. The text said something like "don't go anywhere, this is getting weird with these guys." Charney left the conference room, and the pair took a walk down a corridor to another Skadden conference room, where they shut the door. "They're trying to fire me, it's completely illegal, they don't know what they're doing, they have no idea how the company functions," Charney told her, according to sources who heard about it later. "They're out of their minds," Alonzo said. "We are going to get the whole company behind you, the entire management team is behind you." Charney and Alonzo spent the next 11 hours on the upper floors of the Skadden tower, begging, pleading and arguing with the board to reverse its position. While Charney raged at his directors, the company’s security team was instructed to shut down his email, cancel his access to the HQ building in Los Angeles, and cut off service to his corporate mobile phone, sources told us. At one point, during a break in the debate, Alonzo went into the conference room where the board was holed up. She was furious. “Jesus — this is crazy! Who do you think is going to run this company? You’d need five people to replace Dov,” she said, according to someone who was there. “You’re ripping the heart out of the company — you’re going to destroy the company. You don’t know this business, you haven’t spent more than an hour in the factory cumulatively in the last five years. Who are you, and what do you think you know?” She ended her tirade by saying, “All of you are cowards — every single one of you.” Allan Mayer asked her to leave. 'Tense bunch of hours' Everyone who spoke to Business Insider described the exchanges between Charney and the board as painful to hear. Although Mayer and David Danziger, another board member, had led the movement to prepare Charney’s ouster, they were acutely aware that this was Charney’s company. dov charney american apparel (An ad from Charney's early days at American Apparel.American Apparel) The company was his entire life’s work. “It was a tense bunch of hours. We sat in that room going well into the evening. There was a lot of discussion going back and forth, and none of us really knew how it was going to end,” one person said. There was nothing Charney could do. The other members of the board had agreed the night before — without telling him — that he would be fired, a source who knew about it says. The letter was already drawn up and dated. The board meeting had only one real purpose: to present Charney with an ultimatum, according to confidential documents seen by Business Insider: Charney could either accept a $4.5 million severance package and the new title of “creative director,” for which he would also be paid $500 per hour. It would not look as if he had been fired, merely moved into a new position with the company. The price of that package was that he had to sign over the voting rights to his 47 million shares, and resign as CEO. Or the board would remove him. "We all love you, and we know you are the hardest-working guy in the room," Danziger told Charney. "But we need to reposition the company and this is going to be good for you and the company." Said Robert Greene, another director, presumably referring to the value of Charney’s stock, if it went up: "You are a genius. You will get over $100 million out of this and start up a new business. (Their conversation was later repeated in court filings.) If he did not accept, the board told him, he would be fired “for cause” and walk out with nothing except his existing stock. The implication, from Charney’s point of view, was that there would be a storm of bad publicity. And, two sources told Business Insider, the dirt that the board referred to in its termination letter — the stuff about the sexual harassment and the misuse of corporate money — would be made public if he did not go quietly. Naked video leaked During another break, an increasingly desperate Charney called John Luttrell, his CFO, to see if he knew what to do. Luttrell expressed shock at the news. That was an odd reaction from Luttrell, three sources told us, because Mayer — the board chairman — had asked Luttrell earlier in secret if he was prepared to step up as the interim CEO if they got rid of Charney. Charney, who hired Luttrell in 2011 because he had previously been CFO at Old Navy and Wet Seal, later came to believe Luttrell was the mastermind who had first proposed getting rid of him, months earlier, in February of that year. Sources close to Luttrell regard this conspiracy theory as nonsense. On a bathroom break, Charney also called Minho Roth, an investor who held about 15% of the company's total shares. "I'm having a breakdown," Charney told Roth, according to someone within earshot. "These guys are trying to fire me!" By the end of the call Charney felt reassured: They'd put their shares together, kick out the existing board members, and make Charney CEO again. Charney owned about 27% of the company, and with Roth’s 15% they needed only a couple of other investors to join them. Charney’s belief that Roth would back him would become crucial later in his fight to regain control of the company, court documents show. Minho Roth 5T (Minho Roth, left, of FiveT Capital.Tomorrow-Focus.De / press handout) So Charney refused the "creative director" option. Sometime around 9 p.m., a statement went out to the press. The board suspended him immediately and declared its intent to fire him , after a 30-day contractual-notice period. Charney naked (A still from a video that was leaked showing Charney naked.ABC News / YouTube) At the same time, a new video of Charney appeared on the internet. It showed him dancing naked in his Los Angeles house, apparently filmed by a friend. No one knows how it got there, or why it was leaked at precisely that time. Charney believes it was a deliberate coincidence designed to humiliate him. By the next day, Luttrell had been named CEO, replacing Charney, who was technically “suspended.” 'Up against a wall' Most people don’t know that American Apparel came very close to bankruptcy in March 2014. The only official reference to it is in the company’s annual report for 2013, and it’s written in the generic boilerplate legalese that disguises the seriousness of what the company was required to warn: “We have experienced negative cash flows from operating activities in the past, and our business may not generate sufficient cash flow from operations to enable us to service our indebtedness or to fund our other liquidity needs.” The company was running on fumes. american apparel (Charney has always been very proud making his merchandise in his own factory in the US, and not outsourcing it from Asia.American Apparel) The problems went back years, and historically the company has lurched from crisis to crisis. Charney may have built the company, but he was never able to install a mature operational infrastructure to keep the company running smoothly. Part of the board's case against Charney was that he never hired or retained the kind of management bench strength that a company of its size needed. A lot of the company's problems were, ultimately, the responsibility of Charney. In 2009, for instance, there was an immigration audit of American Apparel's factory, and up to 1,800 people working without legal permission lost their jobs. The manufacturing base of the company had to be rebuilt from scratch. As sales fell, Charney ended up lending his own company $8.5 million in cash (and charging 6% interest). A company with a more robust HR department would never have hired those workers in the first place. Then, over the next few years, the company got stuck in an increasingly punitive debt cycle. In 2009, it received an $80 million loan from Lion Capital at 15% interest . In 2013, it did another deal with Lion, which carried an upper interest rate of 20% . Those are ridiculous interest rates, higher than many credit cards. Yet Charney signed off on them. In 2013, Charney let himself be persuaded into building a new product-distribution center in La Mirada, California, which cost $5 million. It was supposed to automate the way orders were sent out and thus make deliveries to stores and wholesalers faster and cheaper. Previously, product had been shipped directly from the factory with workers carrying it around, by hand, in cardboard boxes and trolleys, “like the 1950s,” a source said. The distribution center was CFO John Luttrell’s idea. It would require a capital expenditure of about $5 million but once running would save the company millions every year. Charney didn't believe the company had the resources to do it properly. But he said yes to it anyway, to avoid a conflict with the CFO he hired. Charney dog Screen Shot 2015 08 10 at 9.56.07 PM (Charney and his dog at home in LA.ABC News / YouTube) La Mirada turned into a disaster. The system for ordering the products didn’t communicate with the system for picking the products and packing them in boxes. "It couldn’t ship," a source who saw it told Business Insider. "It couldn’t ship a package!" "When I showed up at the distribution center it was such a sight, it was a mountain, a mountain of apparel — T-shirts and socks and belts and every single SKU that we had was in the center of the building on tables in boxes," a source who saw it said. "It was a like a bad laundry day 1,000 times over, just this enormous mountain. I think it was over 100,000 units just left in the center." american apparel (A shot of the chaos inside La Mirada.YouTube / Ana Zai) In the summer of 2013 Charney moved into the distribution center — literally building himself a bedroom there so he could work day and night — and spent about three months fixing the place. He got it up and running, but it cost American Apparel a further $15 million in expenses and lost sales , according to the company’s annual report. The company still booked a record year of revenues, but the loss on the bottom line was $106 million. By January 2014 it was clear to Charney that the company would not have enough cash to meet a $13.7 million interest payment on a bond it had issued the year before. The company had reported only $8 million in the bank at the close of 2013, a razor-thin margin for a business with a turnover of $634 million. If it were not for the La Mirada center, and the costs of fixing it, the company would have had about $20 million more on hand — more than enough to meet the $13.7 million debt payment. american apparel la mirada (YouTube / Ana Zai) In Q1 2014, sales decreased 1% to $137.1 million, and same-store sales went down 7%. Charney was losing control of the situation. "We were in one of our periodic liquidity crunches, and the company desperately needed to raise capital in March with an April deadline," a source familiar with the refinancing told Business Insider. "We were really up against the wall." 'I've known Dov a long time, and he often hears what he wants to hear' So Charney and Luttrell came to an agreement with the board: They would sell about 60 million new shares, and use the money to pay off the debt. With a bit of luck, if sales rose again in 2014, the debts would become less of a problem. The deal came with a downside for Charney: He owned 43% of the stock, a stake big enough to give him absolute control of the company. But the new stock sale would dilute his stake down to about 27%. LA Factory american apparel (American Apparel's LA factory.ABC News / YouTube) Charney, not wanting to lose his controlling percentage, asked the board for a guarantee that over time his stake would increase back up to 43%. Charney believes he had extracted this promise from the board before the equity was sold. But that’s not quite what happened. Rather, Charney was simply allowed to believe that he would regain control. "I’ve known Dov a long time and he often hears what he wants to hear," one source says. Charney was told "the board won’t consider anything until after the capital raise, but if you come to the board with a plan that’s all worked out and includes some performance metrics, the board will consider it." In other words, the board merely told Charney they would think about restoring his stake. The sale went ahead, and it netted $28.5 million — enough to keep the wolf from the door. But for the first time in years, Charney no longer had ownership control of the company. Charney house (Charney's house in Silver Lake, Los Angeles.ABC News) He was vulnerable. But he wasn't concerned because American Apparel’s seven board members — his bosses, technically — had mostly been picked by Charney himself, and he was the chairman. The board was regarded by outside investors as a cozy, pro-Charney place. These were the people who had heard years ago from the media that Charney was having sex with the models he recruited to appear in the company’s ad campaigns. They did nothing, even when some of the models sued. One, Irene Morales, appeared on TV to accuse Charney of locking her inside an apartment, and still the board made no moves against him. At other companies, the CEO would have been pushed out long ago if that happened. One source told us, jokingly, that the directors were so inactive the only changes they ever asked for in the company’s SEC disclosures were to update their biographies. That was why Charney felt confident that before the board meeting in the Skadden tower. Compared to the last few years, he had good news, and they should have been on his side. Charney turns a single T-shirt into a $600 million empire Charney young (A young Charney in his LA factory.YouTube / ABC News) Charney started his company as a student in the 1980s, carrying boxes of T-shirts across the border in trucks and on trains from America to Canada, where he lived (hence “American” Apparel). By the early 1990s his business had morphed into something more serious. It was still a one-man operation, but Charney showed up with his boxes of T-shirts at every regional US fashion trade show, promoting them to anyone who would listen. In the early '90s he was pushing a "Girly-T" shirt for girls. This was a sexy tight-fitted top. He called his brand "Classic Girl." The shirt came in one size. "I saw him at every single trade show," says someone who knew him then. "If there was a trade show happening, he was there. It was like, one T-shirt style, in two or three colors, in one size. It was a medium, one-sized T. He was like, 'Don’t worry, it will fit a woman from zero to size 8.' I was like, ‘I don’t get it.’ But he sold it.” American Apparel Catalogue Page 4 5. January 1997 (American Apparel) In the early '90s the fashion was grunge: baggy jeans and huge flannel shirts. By contrast, Charney’s shirt was a figure-hugging, fitted look. Charney guessed right. The "girly" T-shirt became a top-seller through the late '90s and early 2000s, morphing later into the "baby-doll" shirt which was cropped even shorter, as the trend for baggy clothes went away. The line developed, from a single shirt into American Apparel — 237 retail stores in 20 countries, and 10,000 employees. In 2005, Charney began selling leggings. The last time leggings were trendy was in the late '80s and early '90s. Back then, leggings were fundamentally underwear and worn underneath a skirt or with denim shorts and boots. Charney’s idea was to push leggings as outerwear, an alternative to jeans, without the skirt or shorts on top. Again, it was a prescient call. Women were apparently ready to wear butt-revealing underwear as outerwear. Leggings remain one of American Apparel’s best-selling wardrobe basics. Charney’s brilliance as a trendspotter is his ability to figure out exactly what teenage girls are willing to wear in order to most horrify their parents — and then sell that to them. This is the effect it had on sales, according to a document filed in the litigation: sales american apparel (Company sales in millions of dollars.Court documents) Another sex scandal In 2011, American Apparel ran into another crisis. Charney was sued by four women who alleged sexual assault or sexual harassment. Alyssa Ferguson, Kimbra Lo, Tesa Lubans DeHaven, and Irene Morales were all former employees or models for the company. In response, American Apparel published three blog posts detailing private photos, emails, and text messages sent between Charney and the women. Charney's termination letter alleges he knew these blogs were going to be published. The posts, which a source said the company officially promoted, appeared on services like Blogger and WordPress. They indicated that at some point the relationships were consensual, and not abusive as the lawsuits claimed. The photos on them were "not safe for work": In the case of Morales, emails and photos indicated she'd had a consensual sexual relationship with Charney for an extended period. In the case of Lo, a large batch of nude photos was published showing her obviously not being assaulted by Charney. The links were emailed to journalists who regularly covered the company. This PR retaliation, using personal, intimate photos was an unheard-of tactic for a publicly traded corporation. Companies usually prefer to litigate quietly until such cases go away. kimbra lo today.w1200.h630 (Kimbra Lo.Today Show) So the suits became huge news. Morales and Lo appeared on NBC's "Today" show to press their case. The company called it a “shakedown.” For a while, the cases went quiet. They were kicked out of the courts and sent to binding arbitration, a confidential nonjudicial process governed by the terms of American Apparel’s employment contracts. Some of Charney’s biggest defenders within the company are women. They regarded the plaintiffs as cynically taking advantage of consensual relations with Charney that had not turned out to their satisfaction. Charney was single and dated a lot of women, and while that was not to everyone’s taste it wasn’t a crime, these female employees say. They sympathize with Charney. Three female employees spoke to Business Insider. One said, “He has really been taken advantage of by women, who have taken advantage of the legal system, and the kind of power a woman can have in a sexual situation. I’ve known almost every woman who has filed against Dov and it’s digusting. It’s such a hard thing for someone to defend themselves about. Everyone thinks he’s a pervert ... he’s got this reputation he’ll never be able to live down, and for him to speak out and deny it, it’s almost impossible [for him].” The headlines were scandalous, but the board didn’t think it needed to act. “There was a lot of rumor and innuendo. You don’t fire the CEO of a public company based on rumor,” a source said. And the legal cases kept coming to nothing, another source said: “There had never been a finding of fact. He always denied them very convincingly. He was an easy target because he was very unconventional and outspoken. He was an easy target for allegations that weren’t necessarily based on anything real. At the time, there was nothing solid for the board to act on. No court of law, civil or criminal, had ever found he had committed an act that he had been accused of.” But that changed in the early part of 2014. A model wins an arbitration hearing At some point after the New Year of 2014, someone went to board chairman Allan Mayer and director David Danziger, who were both on the board’s audit committee, and told them to take another look at the legal settlements that were being made in the harassment cases. A pattern had emerged in the litigation: The cases would be filed in court. Charney’s lawyers would argue that the women had signed employment contracts that required “binding arbitration,” like an employment case and not a state court case. Arbitration is a non-public labor management process that generally produces much smaller damages awards than a trial by jury does. The process is also conducted in private, shielding it from the media. Once inside arbitration, Charney’s lawyers would then show that the women had signed agreements releasing Charney and the company from all legal claims. These releases helped the company get the cases thrown out completely, two sources close to the board say. Business Insider spoke to two employees who said they had signed such releases. They signed them after receiving bonuses or pay raises, and didn’t think they were unusual. Many people in the company were asked to sign releases promising they had no reason to sue the company, in order to get paid. In 2014, the strategy stopped working. More than one case ended up being settled. In 2014 and 2015, American Apparel paid a total of about $4.5 million to settle claims, according to the Wall Street Journal. Ferguson was awarded $1.8 million, according to court documents. (The sum is disputed by Charney’s lawyers who say most of the settlements were paid through insurance, at the insistence of the company’s insurance company.) Two other settlements were made that were confidential. irene morales (Irene Morales.Today Show) In the spring of 2014 — just as it was dawning on top management that the company was not going to be able to make its April bond payment — American Apparel paid at least $200,000, plus legal bills, to settle with Irene Morales, sources say, and court documents suggest the total may have reached $700,000. Morales was the 17-year-old model who had alleged she had been briefly locked inside Charney’s house – with the New York Post calling her a “sex slave.” But the settlement wasn’t over Morales’ sex claims. Those were rejected. Rather, the arbitration judge decided that the blogs which published her personal communications with Charney amounted to an impersonation of Morales. Sources told Business Insider that American Apparel staff had decided to create the posts based on advice from the company’s lawyers. They were written with Charney's knowledge, according to the board's termination letter (and a source told the New York Times the same thing ). Charney was getting massacred in the media. It seemed only fair to hit back with the truth — the women’s own sexy texts and emails to Charney, sources close to Charney say. Charney resisted the plan, according to a lawyer who advised the company. That lawyer was deposed during the litigation, according to a court document seen by Business Insider: "Everybody close to him was pressuring him. Everybody. ... I mean, Dov was sitting on photographs and e-mails … that completely refuted their allegations and he was not releasing them for personal reasons. They were private. He only did it after Kimbra Lo made her appearance [on TV], and after that the media coverage was just out of control." The legal advice — to publish the blogs – turned out to have huge unforeseen consequences for Charney: It made the company “vicariously liable” for the posts, the arbitration judge said. That finding of vicarious liability and the settlement that went with it — along with the news that staff were routinely being asked to file claims releases — was the turning point, two sources close to the board told Business Insider. "It was really outrageous, anytime someone got a raise or bonus or was leaving the company and getting severance, in order to get a paycheck they had to sign a release of all claims against the company," a source familiar with the board's thinking said. "If the board had been aware of that we would have put a stop to it." So, in March 2014 the board assigned Jones Day, a law firm, to investigate Charney without telling him. It had to be secret because if Charney had known, the board believes, he would have interfered or stopped the probe. Jones Day pulled all the legal files on Charney and began quietly interviewing employees. What they found was not good. Someone finds a secret plan to fire the CEO sitting in the office printer’s out-tray The legal bill for the Morales case was the least of American Apparel’s problems. A 2013 bond offering had left the company owing 13% interest with a 2% payment-in-kind, or PIK, on roughly $200 million in debt, due in April 2014. (A PIK is a type of deterrent provision installed in risky loans when the lender believes the borrower might not be able to make the basic interest payments.) So CFO John Luttrell attended the ICR XChange conference at the Ritz Carlton in Orlando, Florida, in January of 2014, to listen to new financing ideas. ICR is intended to provide a meeting place where analysts, companies and bankers can float investment plans, no matter how wildly speculative they may be. Luttrell could not have been a more different personality than Charney. Luttrell was an older, bookish accountant who preferred to spend time on his ranch in Sonoma, with his dog Jon-Jon and his horses. He arrived at the office with his shirt half-untucked, sources say, a crime at the fashion company. He was quiet and would leave the office early or work from home on Fridays, sources say, while Charney often worked late into the night. He didn’t fit in. The ICR conference — with its talk of bonds and cashflow and balance sheets — was much more Luttrell’s speed. marc cooper (Marc Cooper.Peter J Solomon) At the conference, Luttrell allegedly spoke to two investment bankers from Peter J. Solomon. Marc Cooper, one of the Solomon bankers, was overheard telling Luttrell that “American Apparel could be sold, but not with Dov Charney in the way,” according to court papers. Luttrell floated the idea past Charney, calling him one morning to ask if he would ever consider taking $100 million for his stake in the company. Charney wasn’t interested. On February 14, Luttrell sketched out a plan, typing it into a Word document. It was titled "Notes to David Danziger," the board member. Much of it has been quoted in court documents. Those who have seen the document say it contained a bullet-pointed list of problems with Charney, "who was incapable of managing a $700 million business." It ended with a proposed plan: "Remove CEO and replace with an interim replacement. Put the Company up for sale. Engage Peter Solomon." "This piece of paper had Dov’s name on it, other people’s names, some points of why maybe he shouldn’t be in charge, what’s been going on, the financials and La Mirada," says a source who read it. "Points of how things weren’t right there. Dov was to blame for La Mirada, Dov had hired people that shouldn’t be in charge of things, the financials, basically a rap sheet blaming Dov for a lot of things that had gone wrong with the company. It was two pages and the last point, on the last page, was 'solution - Jay Solomon taking over American Apparel.'" The paper also named people who had allegedly slept with Charney, three sources told Business Insider. In fairness to Lutrell, the idea that American Apparel might be better off without Charney was not an unusual belief in the investor community. The stock had peaked at $15 in late 2007, but by 2014 it was worth less than a dollar and in danger of being de-listed from NASDAQ, all under Charney's reign. CFOs have a duty to shareholders, and one way to boost the stock would be to shop the company with a new, turnaround CEO. That may not have been to Charney's taste, but it's not an unreasonable argument. Luttrell kept the memo a secret for months. Charney believes he used it as a primer to persuade board members like Danziger and Mayer that the company would be better off if it was sold without Charney. Why American Apparel (American Apparel) The note was discovered by accident, sitting on a company printer by an employee loyal to Charney. News of its existence spread quickly within the company's gossip mill. "Woah, where did you get this?" Charney said when he received a copy of it, according to sources inside the company. "This is crazy!" The employee also told Luttrell’s secretary that she had it. Immediately, Luttrell came over. "Has anyone else seen this?" he said. He was told no. "OK, keep it that way," he said. Luttrell then took the note and walked off, according to employees who witnessed the action. Tensions between Luttrell and Charney were coming to a head even before the note was printed. Luttrell “was just telling the chairman of the audit committee [David Danziger] that he was fed up, he wasn’t going to issue another '10-Q’ as long as Dov was CEO,” according to a source who overheard the conversation. A 10-Q is the quarterly earnings statement that all public companies must file with the SEC. If a company fails to file, it appears to investors that something must be very wrong — and that usually tanks the stock. Refusing to file a 10-Q is the most serious threat a CFO can make, short of going to the SEC as a whistleblower. The spring 2014 10-Q was filed on time, however. The company’s next SEC disclosure was much more crucial, and Charney now alleges in court documents that the company filed false information inside it — a potentially criminal offense under US law that can carry a prison sentence, if proven to be true. American Apparel Catalogue. January 1997 (American Apparel) On April 28, 2014, the company filed its “proxy” form, a notice to the SEC announcing its annual shareholders meeting, scheduled for June 18 at Skadden in New York. The form specifically recommended that Charney stay on as combined chairman and CEO. Charney believes that statement is false because the board had already assigned Jones Day in March to investigate him, and because John Luttrell’s February note shows he wanted Charney fired. Sources close to the board see it differently. Luttrell’s note is meaningless, they say. Even if Luttrell wanted Charney out, there were six other board members who needed to make that decision. "This notion that John is somehow been pulling the strings since February is nonsense," one person says. And the board wasn’t going to make a decision until after Jones Day finished investigating. When the proxy was filed, no decision had yet been made, they say, and thus it is not false. Jones Day only presented its findings to the board after the proxy was filed. "I can’t tell you how close to the wire we were even on making the final decision. So timing a had a lot to do with everything," one source says. And it wasn’t Luttrell’s note that persuaded the board Charney had to go — it was the legal liabilities arising from the sexual harassment suits, the board now says. The war room in Hell’s Kitchen Charney balcony Screen Shot 2015 08 10 at 9.55.14 PM (The view from the balcony at Charney's house.ABC News) After he was fired, Charney decided not return to LA. He was locked out of the building anyway. He chose instead to stay at an apartment in New York’s Hell’s Kitchen neighborhood, with Iris Alonzo, turning it into a war room from which he would fight the board. He immediately began working on a plan to get his company back — after all, he still had 27% of its stock. He needed more investors to come over to his side. If he could put together the votes from 51% of the stock, he could force the board to make him CEO again. He called Minho Roth of FiveT capital, a longtime Charney supporter who owned about 15% of the stock. Charney was confident that Roth would be on board because of their previous phone call the night he was fired. But Roth had talked to David Danziger, the board member, on June 20. Roth wanted to know why Charney had been fired two days earlier. But Danziger wouldn’t go into details, hinting ominously that “Roth that would understand the decision if he knew what the board knew,” Danziger later wrote in a court document. american apparel in bed with the boss 0 adbig 2 (Iris Alonzo (left) and Charney appear in an American Apparel ad.American Apparel) Roth decided then he would not support Charney in the fight . This devastated Charney, who believes that Danziger scared Roth away by slandering him, an accusation that Danziger is disputing in court. Charney turned next to Standard General, a hedge fund that had offered to lend the company money back in March (before the company chose instead to sell the stock that diluted Charney’s controlling stake). Charney had a series of phone conversations with Robert Lavan, an analyst at Standard General, including one while he was on vacation, climbing Machu Picchu in Peru. When Lavan got down from the mountain and got a signal on his phone, he discovered that Charney was freaking out about the “conspiracy” to fire him and frighten away his investors. Lavan tried to reassure him: He would fly back to New York, and the guys from Standard General would see what they could do. Lavan sent Charney a picture of himself on the summit of the Peruvian mountain with its ancient ruins in the background. “If I could do this, we can definitely take back APP,” his email said. Robert Lavan Macchu Screen (The photo of himself that Robert Lavan sent Charney from Peru.Court documents) A day or so later, Lavan and another Standard General member, David Glazek, came over to the Hell’s Kitchen apartment to find a dishevelled-looking Charney who had not slept properly for nearly a week. They hammered out a deal: It was basically a cash loan with warrants attached that required Standard General be paid back with Charney’s stock. The terms were complicated, but essentially Standard General would lend Charney a massive amount of money — up to $20 million — and Charney would use that money to buy stock, building a combined stake up to 51%. Charney’s stock would be the collateral for the loan. In addition, they signed an agreement about how to control the voting rights to the stock. The agreement gave Charney and Standard General “negative control,” meaning that one party could veto the vote if they didn’t like what the other one was doing. The deal was signed at 2 a.m. in the morning. On its face, this was good news for Charney. He began buying the stock, adding to his warchest. If he could get 51% with Standard General’s backing, he would be able fly back to LA, kick out the board, and declare victory. Charney only realized later that he had made a horrendous mistake. The poison pill Charney war room (Charney later made a war room in his LA house, too.ABC News) For a while it looked like Charney might succeed. He built a stake back up to around 43%. But the board wasn’t stupid. As soon as they realized Charney was getting close to ownership control again, they adopted a “poison pill.” Basically, the pill was a policy that promised to reward any investor with extra, free stock if anyone accumulated more than a certain percentage of the whole. That meant the more stock Charney bought, the more diluted he would become. The board also declared that Charney’s pact with Standard General was invalid. (It probably didn’t have that power but the declaration was enough to potentially tie up Standard General in litigation for months.) So Standard General approached the board and said, “hey, can we work this out?” They came to an agreement: Standard General would get three seats on the seven-member board, and two more seats jointly agreed with the company. Charney would resign from the board. That basically gave Standard General control of the company. They also agreed that the board would let another outside company, FTI, complete a second, more thorough, investigation of Charney, and his suitability to be CEO. Charney thought this new agreement was a huge betrayal. The company spent $10.4 million to fund lawyers for the probe ( according to its annual report ), which operated like a prosecution; Charney ended up using his own money to hire lawyers to defend himself against it. And in addition to not being CEO, his stock was now controlled by a hedge fund who could veto his votes. He was completely screwed. A kabuki dance in Central Park soo kim (A poster that pro-Charney workers made protesting Soo Kim and Standard General's presence on the board.American Apparel union drive campaign) Charney believes he was hoodwinked into this agreement by Soo Kim, Standard General’s managing partner, he has alleged in court documents. Kim allegedly achieved this by calling Charney at 5 a.m. on the morning of June 30, and insisting that he meet “at a private location in Central Park” where “no one could hear us talking” to discuss signing a deal with the board, Charney claims in court papers. Charney rolled out of bed and took an Uber car uptown. At about 5:30 a.m., Charney found Kim in “freak out mode” near the park, according to Charney’s lawsuit. One of Standard General’s limited partner investors, PAAMCO, had pulled $300 million from Standard General because it did not want to be associated with Charney, the suit claims. “Kim was scratching himself ‘to a bleed’ in panic”, the suit claims. According to the lawsuit, Kim persuaded him that the second investigation was merely a “kabuki dance” and that once it was over, the dust would settle and Charney would be quietly re-installed at Standard General’s request. Charney agreed to sit tight, thinking he would become CEO later. It didn’t happen. Needless to say, Standard General does not agree with Charney’s version of events. This wasn’t a secret meeting in the park, sources say. Their office faces the park, from 5th Avenue and 59th Street. Kim and Charney met for coffee outside the office and happened to sit down on a park bench. And it wasn’t called because Kim was trying to string Charney along — Kim was angry at Charney because he kept telling the media that Standard General was backing him no matter what. That was wrong, Kim told Charney. They would only back him if the investigation cleared him. From Standard General’s point of view, the board’s investigation into Charney was the unknown variable in the deal. They had no idea what dirt the board was holding. There were two possible outcomes to the investigation, and in either Standard General had something to gain: Either the investigation would exonerate Charney, in which case Standard General would be able re-install him as CEO. Or it would show that Charney had committed misdeeds that would prevent him from being CEO. In the second scenario, Standard General would at least retain its seats on the board, allowing it to safeguard the massive amount of stock it now controlled but could do nothing with. Maybe, in that scenario, the stock would go up. The disagreement was that Charney believed Standard General would back him as CEO regardless of how the investigation turned out. The new investigation was bogus — it was being done at the behest of people who had already decided he should fired — and Standard General knew that, Charney believed. Why else would he have signed the “negative control” deal? Why else would they have loaned him the money? Charney’s argument is irrelevant, sources told Business Insider, because even if Standard General backed Charney unconditionally there is no way he could be CEO if there was a trove of evidence against him alleging he misused corporate funds and exploited female employees for sex. American Apparel was already being forced to take awful interest rates on its debt because traditional lenders didn’t like the rumors surrounding Charney. What if the rumors were true? What if the files from the investigation became public? You just cannot be a CEO of a publicly traded company with that hanging over you. The probe was essentially out of Standard General’s hands, these sources argue. With the agreement between Standard General and the board signed, Charney’s fight to regain his company officially reached a legal “standstill.” On December 15, the board reviewed FTI’s findings, and fired Charney a second time. This time it wasn’t technical. He was gone for good. Investigators discover Charney’s private porn stash Charney home Screen Shot 2015 08 10 at 9.56.57 PM (Charney at home, as seen in an ABC News story about him.ABC News) Charney believes his legal battle — or perhaps the SEC probe — will result in him getting his company back. But the board has made it clear that it is holding a sword over Charney’s head: After the two investigations by Jones Day and FTI, the company took possession of a private company server that was used by Charney to store his personal archive of photos. It allegedly includes a ton of sleazy communications between Charney and his female models and employees. The investigation also allegedly found evidence that corporate money was misused. Charney denies that, and believes the company is trying to smear him. Charney launched four lawsuits against the company, its board, and Standard General in an attempt to get his company back. On August 13, 2015, two board members filed papers in one of the cases giving more detail about what the investigations found about Charney. David Danziger alleges that Charney was fired in part due to “Charney’s use of electronic storage media belonging to the Company for personal purposes to graphically document his sexual liaisons.” Chairperson Colleen Brown goes into even more detail. The company "discovered videos and photographs of Mr. Charney engaged in all manner of sexual behavior with numerous models and employees, which for some incredible reason had been saved by Mr. Charney to the Company's network server by him with the use of his Company computer,” she alleges. “These emails and text messages reveal that Mr. Charney repeatedly sent illicit messages to employees. He sent messages that included pornographic videos (or links thereto), pornographic photographs and other nude pictures. Additionally, he frequently engaged in inappropriate sexual banter, infantilizing women and referring to himself as ‘Daddy,’“ she alleges. Her filing then quotes from those messages, and they allegedly describe Charney’s sexual fantasies in lurid, four-lettered detail. The server was supposed to be for Charney’s private use, and contained his personal photos. The historic photo archives of fashion and media companies can often be valuable. Hugh Hefner has one, for instance, and it’s probably worth a lot of money. Founder archives can be sold for hundreds of thousands in media deals. There are rumors that Entourage's Adrian Grenier wants to make a movie of Charney's life , so all those old pictures could be part of that. Charney will likely argue that he had an agreement with the company that the server be kept separate and private: the messages on it were consensual, and not intended to be seen by the public, and it is thus unfair for the company to break that agreement and publish them. There’s an implicit threat from the company here, too: the subtext directed at Charney seems to be, go away or all this information will become public, including the photos. Charney’s prediction comes true American Apparel appointed Paula Schneider as its new CEO in December. She has cleaned house. A dozen or so of Charney’s internal loyalists have lost their jobs. Paula Schneider (American Apparel's new CEO, Paula Schneider.ABC News) Since then, the prediction Charney made about the company at the board meeting in 2014 — that it would collapse without him — has come true: American Apparel is in a death spiral. The company moved away from its overtly sexual marketing toward a positioning that focuses more on the clothes. Its ads are now less offensive to many, but less distinctive, also. Sales are down, collapsing 17.2% to $134.4 million in Q2, as a result. That followed a 9% decline the quarter before. On August 11, the company disclosed it was not able to file an earnings report for Q2 because it might be unable to make payments on a credit line it has with Capital One. Failing to file a 10-Q on time is always a bad sign. The company may be nearly bankrupt and will definitely need more financing, it said, “Whether or not any such transactions or agreements were implemented or successful, the Company's existing and any new investors could suffer substantial or total losses of their investment in its common stock.” They may have gotten rid of Charney, but the price for that may ultimately be the destruction of the entire company. NOW WATCH: The ugly secret behind why J. Crew's sales have tanked More From Business Insider Bitcoin splits in 2 NASA has a job opening for someone to defend Earth from aliens — and it pays a six-figure salary 50 must-have tech accessories under $50 || 6 social trades on Facebook earnings: Facebook(NASDAQ: FB)topped quarterly expectations on most key metrics Wednesday, and CNBC "Fast Money" traders believe the results will give its stock enough leverage to keep inching higher.
The social media giant topped analysts' estimates for earnings, revenue and monthly active users. Still, its shares traded down about 5 percent in extended hours and lingered in negative territory despite paring some losses.
Read MoreFacebook quarterly results beat on most metrics
Though the stock sat around $94 per share in the after-hours session, traders contended that it will not stay there long.
"I think it's going to blast through $100," said trader Brian Kelly.
Traders Dan Nathan and Guy Adami agreed that it would break that level. Adami said he was impressed with Facebook's 55 percent operating margin.
Twitter
Twitter(NYSE: TWTR)shares were pummeled on Wednesday, falling more than 14 percent a day after executives warned that user growth may stay sluggish for the foreseeable future. The social media company posted earnings and revenue that topped estimates Tuesday, but fell short of projections for monthly active user growth.
Read MoreTwitter shares sink as execs warn on user growth
Still, Twitter is a young company with a "unique" platform, said trader Tim Seymour.
"If nothing else, someone is a lot closer to buying them," he said.
LinkedIn
Professional social network LinkedIn(NYSE: LNKD)reports quarterly earnings on Thursday. Its shares closed Wednesday 1.5 percent higher at $232.
Adami contended that it could rise to $250 per share after earnings.
"I think you stay with this one," Seymour added.
Disclosures:
Tim Seymour
Tim Seymour is long AAPL, T, BAC, DIS, F, GE, GM, GOOGL, INTC, JPM, SUNE, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO.
Dan Nathan
Dan is long QQQ sept put, CMG July weekly put spread, JOY sept calls, TWTR, TWTR sept call spreads, SO, BA sept put spread, COST Aug put spread, TJX aug put , PG july weekly put, SLB aug 28th put spread.
Brian Kelly
Brian Kelly is long BBRY, BTC=; ITB, TAN, TLT, TSL, US dollar; he is short Oil, Ruble, Yuan and Yen.
Guy Adami
Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.
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[Random Sample of Social Media Buzz (last 60 days)]
In the last 10 mins, there were arb opps spanning 24 exchange pair(s), yielding profits ranging between $0.00 and $3,063.61 #bitcoin #btc || LIVE: Profit = $156.71 (0.41 %). BUY B144.29 @ $263.00 (#BTCe). SELL @ $264.67 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || bitcoin rate-2015-08-12 PDT start_rate:$268.00 current_rate:$266.98(-0.38%) #bitstamp @MoneysEdge http://www.moneysedge.com/bitcoin || bitcoin rate-2015-07-28 PDT start_rate:$285.24 current_rate:$285.24(0.00%) #btc_e @MoneysEdge http://www.moneysedge.com/bitcoin || I attacked Robot-lvl 12, and I've earned a total of 1,290,7 00 free satoshis! http://www.robotcoingame.com/?id=1AYL2rsJocqF6seqjyPkLQYBwvVjigka9Y … #robotcoingame #Bitcoin #FreeBitcoin || LIVE: Profit = $1,658.92 (1.10 %). BUY B546.02 @ $274.00 (#BTCe). SELL @ $275.66 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org || 1 #bitcoin 652.55 TL, 209.317 $, 186.049 €, GBP, 14921.00 RUR, 26335 ¥, CNH, 280.80 CAD #btc || 1 #bitcoin 730 TL, 237.5 $, 211.48 €, GBP, 16352.00 RUR, 28277 ¥, CNH, 321.97 CAD #btc || Bitcoin Price Weekly Analysis – 200.00 as Pivot http://bit.ly/1KUYCTD #bitcoin #crypto #news || Current price: 231$ $BTCUSD $btc #bitcoin 2015-08-22 20:00:02 EDT
|
Trend: down || Prices: 240.11, 235.23, 230.51, 230.64, 230.30, 229.09, 229.81, 232.98, 231.49, 231.21
|
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 2019-03-04]
BTC Price: 3761.56, BTC RSI: 47.78
Gold Price: 1284.80, Gold RSI: 36.82
Oil Price: 56.59, Oil RSI: 58.42
[Random Sample of News (last 60 days)]
Bitcoin Mining Chip Maker Canaan Considers U.S. IPO: (Bloomberg) -- Canaan Inc., China’s second-biggest maker of Bitcoin mining hardware, is considering listing in the U.S. after shelving plans for a Hong Kong initial public offering, people with knowledge of the matter said.
The Chinese company, which was earlier targeting to raise about $1 billion, is discussing the possibility of selling shares in New York as soon as the first half, according to the people. Deliberations are at an early stage, and there’s no certainty they will lead to a transaction, the people said, asking not to be identified because the information is private.
Canaan’s Hong Kong listing application lapsed in November. Any deal would add to the $9.1 billion that Chinese companies have raised through U.S. IPOs over the past year, according to data compiled by Bloomberg.
Jianping Kong, Canaan’s co-chairman, declined to comment.
Bitcoin has fallen 79 percent from its record high in December 2017, making it more difficult for cryptocurrency companies to attract stock-market investors and less profitable for miners to generate new coins. Bitmain Technologies Holding Co., the largest maker of specialized mining chips for the industry, and smaller rival Ebang International Holdings Inc. also filed for Hong Kong IPOs last year.
Beijing-based Canaan, founded in 2013, sells computer equipment under the “Avalon” brand with fast customized chips that win digital coins by solving complex math problems. It reported 1.31 billion yuan ($191 million) of revenue in 2017, according to a Hong Kong exchange filing in May.
Morgan Stanley, Deutsche Bank AG, Credit Suisse Group AG and CMB International Capital Ltd. were joint sponsors of Canaan’s proposed Hong Kong listing, the filing shows.
(Updates with IPO volume in third paragraph.)
--With assistance from Vinicy Chan and Blake Schmidt.
To contact the reporter on this story: Crystal Tse in Hong Kong at ctse44@bloomberg.net
To contact the editors responsible for this story: Ben Scent at bscent@bloomberg.net, Paul Panckhurst
For more articles like this, please visit us atbloomberg.com
©2019 Bloomberg L.P. || Binance CEO Criticized for Appearing to Advise Storing Crypto on Exchanges: Binance crypto exchange Binance CEO Chengpeng Zhao (CZ) has come under attack after appearing to advise crypto holders to store their holdings on exchanges instead of on personal storage devices like USB drives or hardware wallets. In a tweet, Zhao appeared to infer that the risk of self-storage is significantly greater than the risk of storing cryptocurrency on reputable exchanges like Binance. Writing on January 15, he said: Store coins yourself. You fight hackers yourself, and guard from losing wallet yourself. Computer breaks, USBs gets lost. Store on an exchange. Only use the most reputable, proven secure, exchanges. Or move to DEX, disrupt ourselves. https://t.co/Ci4ux9I3VD CZ Binance (@cz_binance) January 15, 2019 This Tweet Will Become a Meme Expectedly, the tweet came in for a barrage of criticism, not least because he actually posted it in response to news that Cryptopia, a New Zealand-based cryptocurrency exchange had just been hacked , with at least $2.44 million worth of ethereum (ETH) and $1.18 million worth of Centrality (CENNZ) transferred to several unknown wallets. While at press time it remains unclear whether hackers were behind the transfer or Cryptopia itself made the transfers for security reasons, Zhaos Twitter mentions rapidly filled up with several negative responses. Some of the responses were politely skeptical. Why don't you promise insurance if you're so confidence with your exchange? Satoshi Reaper (@satoshireaper) January 15, 2019 Others were not so charitable. When Binance gets hacked, this tweet will become a meme. PS: Not if
when. A v B (@ArminVanBitcoin) January 15, 2019 A few even bordered on downright accusatory. Story continues There's always a way an exchange could get compromised. If you're 100% confident you're a scammer. WhalePanda (@WhalePanda) January 15, 2019 Exchange hacks on the scale of the 2014 Mt Gox hack are not regular occurrences, but such breaches nevertheless are a serious risk to the long-term stability and adoption of cryptocurrency. CCN reported recently that more than $731 million was lost to exchange hacks in the first half of 2018 alone, the bulk of which was lost in the $500 million Coincheck hack of January 2018. Confidence or Hubris? To many in the cryptocurrency community, there is no such thing as a completely safe exchange platform. To them, it is potentially only a matter of time before Binance gets hacked. Do not challange/motivate hackers to accept this challange. It's a bad idea. [ Romano ] (@RNR_0) January 15, 2019 A few, however, do believe that Zhaos confidence in Binances security infrastructure is not misplaced and that their funds are SAFU in the platforms storage wallets. As a rule I would normally never keep my coins on an exchange but Binance is probably the only one I would consider doing so on. Adrian Redman (@Ade_Redman) January 15, 2019 Some even believe that Binance has achieved the proverbial too big to fail status within the cryptocurrency market, effectively guaranteeing the safety of their funds. When Binance gets hacked, crypto goes down. hereiscrypto (@hereiscrypto) January 15, 2019 In the light of the furor generated by his comment, Zhao later posted a follow-up tweet stating that contrary to the general perception raised by his initial post, he was not, in fact, recommending the use of exchange storage over any other storage option. He said: Some people seems to misread this tweet. It lists 3 options. It does not say which option is better than another, as that depends on each persons security skill, preference, fund allocation, etc. Most importantly, it is an ad for the #BinanceDEX . My bad for not making it clear. CZ Binance (@cz_binance) January 15, 2019 The comments will be particularly interesting to some who expect that as the worlds largest cryptocurrency exchange, Binance will at some point introduce some sort of insurance mechanism to cover users in the event of a large scale security breach. While Zhao has neither confirmed nor denied such rumours, it will be interesting to observe what new security and assurance features Binance will introduce if indeed it plans to become the gold standard for user coin storage. Featured Image from Shutterstock The post Binance CEO Criticized for Appearing to Advise Storing Crypto on Exchanges appeared first on CCN . || Not Just McAfee: The Long History of the $1 Million Bitcoin Price Target: ByCCN.com:There’s just something about that $1 million mark that causes crypto bulls to froth at the mouth.The VP of blockchain and digital currencies for IBM, Jesse Lund, is one of the most recent industry experts to proclaim that the bitcoin price could hit seven figures.
In aninterview with Finder, he made thisprediction:
“I see Bitcoin at a million dollars, maybe $5,000 by the end of the year but a way higher trajectory… that means there’s over $20 trillion of liquidity in this network.”
Mr. Lund is not the first to predict such a loftybitcoin price. RT hostMax Keiser said on his show in early 2016:
“Most of the people who are on the sidelines not buying bitcoins today will start to buy when it gets over $1,000, and then a greater percentage of people will definitely plow into bitcoin once it trades over a $10,000.”
Rick Falkvinge believes it’s reasonable for bitcoin to capture 1% to 10% of the global investor market.
Read the full story on CCN.com. || Finance Expert Ric Edelman: ‘Eventually We Will See a Bitcoin ETF’: А Bitcoin ( BTC ) exchange-traded fund ( ETF ) will eventually come to market according to Ric Edelman, founder of advisory firm Edelman Financial Engines in an interview with CNBC on Feb. 11. Edelman stated that a Bitcoin ETF is “virtually certain,” while “the only question is when,” adding: "The [Securities and Exchange Commission] SEC has several legitimate thoughtful concerns that the industry has to overcome but I'm confident they will. Eventually we will see a Bitcoin ETF and it's at that stage that I will be much more comfortable recommending that ordinary investors participate." In general, ETFs are securities that track a basket of assets proportionately represented in the fund’s shares. A Bitcoin ETF is seen by some a ‘holy grail’ for the cryptocurrency and its adoption. Edelman said, “Fidelity has made a major announcement in the custody issue. We've got Kingdom Trust and a number of other very serious players on the custody side. I'm confident that in very short order VanEck or Bitwise will satisfy the custody concern to the SEC." The SEC has previously expressed concern about the lack of a secure chain of custody as well as governance in overseas trading platforms. Edelman further stated that he puts Bitcoin in the same category as oil and gold , which he said are “globally-traded assets beyond the reach of the SEC.” Established in 2018, Edelman Financial Engines was formed by the merger of advisory firms Edelman Financial Services, LLC and Financial Engines Advisors, L.L.C. Edelman Financial Engines operates as a financial advisory firm, reportedly having $205 billion in assets under management. In the same interview, Tom Lydon, editor-in-chief of ETFTrends.com, stated that he has already noticed profound interest in at Bitcoin ETF, further saying that "we interview advisors all the time. 74 percent say they've talked to clients about their interests in Bitcoin so they need to step up when this happens because that money is going to go elsewhere." Edelman concluded: Story continues “Technologically, regulation-wise it could happen tomorrow. There is no particular motivation because the ‘powers that are be’ in the fund industry have no incentive to give up their market share.” In January, the Chicago Board Options Exchange’s, along with investment firm VanEck and financial services company SolidX, re-applied with the SEC for a rule change to list a Bitcoin ETF, which it had previously withdrawn . A CBOE spokesperson told Cointelegraph that the decision to withdraw its request was the result of the United States government shutdown. Related Articles: New Proposed ETF Would Encompass Bitcoin Futures Alongside Sovereign Debt Instruments SEC ‘Crypto Mom’: Delay in Crypto Regulation May Allow More Freedom for Technology SEC Commissioner Jackson Thinks Regulator Will Approve BTC ETF, Leaked Interview Shows Bitcoin, Altcoins Are Vulnerable to New Lows, Fundstrat Warns Clients || Bitcoin – Small Gains Early on Suggest a Move is Imminent: Bitcoin fell by 0.39% on Thursday. Following on from a 1.74% fall on Wednesday, Bitcoin ended the day at $3,438.4.
By historical standards, it was a relatively range-bound day. Recovering from a morning low $3,439.7, Bitcoin rose to a late morning intraday high $3,462.3 before hitting reverse.
While managing to move through to $3,460 levels, Bitcoin was unable to break through to $3,500 levels for the first time since mid-December.
The reversal through the second half of the day saw Bitcoin slide to an intraday low $3,417.1 before recovering. Bitcoin steered clear of sub-$3,400 levels and the first major support level at $3,397.8.
The range bound day saw Bitcoin move within a $45 band, the tighter ranges expected following Wednesday’s broad-based crypto sell-off. Lower volumes, attributed to Chinese New Year, ultimately left Bitcoin directionless at sub-$3,500 ranges on the day.
Much will depend upon the moves through the remainder of the week and whether Bitcoin can hold onto $3,400 levels. A pull-back to $3,300 levels ahead of a resumption of normal trading next week could see a more material sell-off ensue.
From the top 10 cryptos, there were just two that joined Bitcoin in the red on the day. Ethereum saw minor losses, with EOS the only other crypto in the top 10 to end the day in the red, with a loss of 0.42%.
Leading the way through the day were Bitcoin Cash SV and Litecoin, which gained 1.57% and 1.14% respectively. A mixed day across the majors left the total crypto market cap at $111bn levels.
For Bitcoin SV, a second day in the green saw Bitcoin Cash SV recover the number 10 spot, by market cap, with Binance Coin taking a big hit on Thursday. A 4.11% slide was the heaviest amongst the top 20 cryptos on the day, reversing a trend-bucking 3.5% rally on Wednesday, which had led to a move into the top 10 ahead of Thursday’s slide.
Binance coin’s gains had come off the back of the launch of its Launchpad platform that will host theFETCH.AItoken sale later this month.
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At the time of writing, Bitcoin was up by 0.28% to $3,448.0. Recovering from an early morning low $3,425.3, Bitcoin struck a morning high $3,450.2 before easing back. A relatively range-bound start to the day left the major support and resistance levels untested.
Bitcoin would need to hold onto $3,440 levels through the morning to support a move back through the morning high $3,450.2 and bring the first major resistance level at $3,461.43 into play. We would expect Bitcoin to continue to fall short of $3,500 levels, with the second major resistance level at $3,484.47 likely to pin Bitcoin back on the day.
Failure to hold onto $3,440 levels could see Bitcoin fall back through the morning low $3,425.3 to bring the first major support level at $3,416.23 into play before any recovery. Sub-$3,400 support levels would likely be left untested, barring a major crypto sell-off ahead of the weekend.
It’s a more upbeat morning across the top 10, with only Bitcoin Cash ABC and Bitcoin Cash SV sitting in the red, at the time of writing. The gains across the rest of the pack are minor, however, with EOS leading the way with a 0.45% gain. A reversal could be on the cards should key levels not be hit by the earlier afternoon.
Thisarticlewas originally posted on FX Empire
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• Forex Daily Outlook – February 8, 2019 || EUR/USD Monthly Forecast – March 2019: The price for EURUSD pair for the month of February was dovish as predicted in my previous monthly forecast. While the pair closed on a dovish note, the decline wasn’t as steep as expected owing to conflicting headlines that hit the market across the month. However, as expected the price action in the global forex market was highly dominated by the proceedings of geopolitical events. Sino-U.S. trade talks and Brexit proceedings had greater say in the overall price action despite there being other significant factors that helped set directional bias. Meanwhile, a look at the weekly chart shows that price action still remains trapped in wider rangebound price limits. The pair has over the course of the last five months been trapped in the price range of 1.12125 to 1.15679 within which the pair has been trading in a zig-zag pattern with multiple dead cat bounce scenarios which could have become a breakout had the attempt to breach been successful. The pair is seeing strong support and resistance around 1.12339 to the downside and 1.15140 to the upside within the wider price band mentioned earlier hindering a clear breakout in price action. As geopolitical events dictate the price momentum, a true breakout is likely to be achieved only when one of the two major events dominating the global market comes to end be it positive or negative.
A positive resolution of geopolitical events will lead to a boost in risk appetite and favor a price action that leads to an upside price movement of Euro and other major global currencies. On the other hand, a negative resolution will lead to the escalation of a trade war between two parties involved in talks and result in further economic slowdown causing US Greenback and other safe-haven assets such as precious metals and safe haven forex currency pairs to gain momentum in the global financial market. The first two weeks of February saw a steady decline in price action as caution ahead of key UK parliament session and a deadline approaching for Sino-U.S. trade talks influencing risk-averse trading activity. However, the UK parliament session saw key decisions expected to be addressed in the meeting postponed twice during the month and headlines hinting at unexpectedly favorable proceedings in trade talks between China and the U.S. and possible delay in the deadline for imposing the tariffs on Chinese goods. These factors led to improved risk appetite in the market, boosting EURO bulls influencing a recovery rally in the second half of the month. Aside from Sino-U.S. trade talks and Brexit headlines other factors that affected price action stem from ECB’s comments and actions.
News had hit the market that ECB was planning to initiate a TLTRO (Targeted Long Term Refinancing Operation) aimed at improving the European economy. This was viewed as a highly dovish signal as ECB just ended a long term Quantitative easing measure just last December. While ECB has kept the interest rates unchanged during the last monetary policy and various members acknowledged the fact that the European economy has suffered a slowdown and even downgraded the growth forecast for 2019, several members made clear that labor market and industrial activity still retains some level of strength in current market conditions. Therefore despite dovish signals owing to proceedings of Brexit and geopolitical issues such as the US trade war with China and the threat of imposing tariffs on the European auto market, ECB has decided to wait and observe market proceedings before making any major decisions relating to TLTRO implementation. The comments hinted that while ECB may prepare for TLTRO it is unlikely to be initiated anytime before the end of March or early April relieving immediate dovish pressure on EURO and supporting bulls on their positive price rally to some extent.
In the month ahead the early half of will focus on Sino-U.S. trade talk as US President Donald Trump gave contradicting comments in the last week of February. While he first tweeted trade talks were proceeding in a favorable direction, following the fall out between denuclearisation talks with North Korean leader Kim Jong Un, he is likely to go forward with plans to impose tariffs if US demands are not met by China. UK parliament is also yet to vote on no-deal Brexit and second Brexit referendum or delaying article 50 deadlines. The scenario from a fundamental perspective paints a dovish picture for price momentum in the month of March 2019. Unless deadlines are extended or positive resolution for is found in the days ahead, the market is likely to see rangebound price action with dovish bias. However, in case there is a fall out in trade talks between China & U.S.A. or the UK goes forward with no-deal Brexit, the pair is likely to see a sharp decline in price action with the price falling towards multi-year lows near the lower half of 1.11 handle last seen around May 2017. Investors will also be on the watch out for US tariff on the European auto market. Despite macro data outcome having high potential to influence directional bias as FY2018-19 comes to an end this month news driven momentum based on proceedings of geopolitical events will continue to dictate overall price momentum. When looking from a technical perspective, the pair faces strong supply near above mentioned price levels. But immediate directional bias is skewed to the downside. As the trading session opens for the first week of March 2019, the EURO is likely to continue declining unless the headlines changes the directional bias. Both RSI & Stochastic indicators are currently near mid-levels with signal lines pointing towards the oversold region in daily and weekly charts.
Please let us know what you think in the comments below
Thisarticlewas originally posted on FX Empire
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• USD/CAD Daily Price Forecast – Upside Move Influenced By Upbeat US T.Yields || Bullish Crypto Momentum Will Stick Despite Brutal 11% Bitcoin Dump: Bitcoin price, bitcoin On February 24, within minutes, the Bitcoin price dumped by 11 percent from $4,150 to the mid-$3,000 region, pushing the crypto market to lose $11 billion on a single day. Investors expected a pullback to occur on the price trend of Bitcoin but many traders were surprised by the magnitude of the drop. Bitcoin 1-Day Price Chart (Source: TradingView) Speaking to CCN, a cryptocurrency technical analyst with an online alias “The Crypto Monk” explained that the abrupt price movement was simply a technical movement. Read the full story on CCN.com . View comments || Bitcoin Falls Under $3,400 as Oil Futures See Mixed Movements: Wednesday, Feb. 6 most of the top 20 cryptocurrencies are reporting slight to noteworthy losses on the day by press time. Bitcoin ( BTC ) has fallen under the $3,400 mark again, according to Coin360 data. Market visualization from Coin360 Market visualization from Coin360 At press time, Bitcoin is down a fraction of half percent on the day, trading at around $3,387 , according to Coin360. Looking at its weekly chart on CoinMarketCap, the current price is nearly 3 percent lower than $3,481, the price at which Bitcoin started the week. Bitcoin 7-day price chart Bitcoin 7-day price chart. Source: CoinMarketCap Top altcoin Ripple ( XRP ) has lost over one percent in the 24 hours to press time and is currently trading at around $0.290 . On its weekly chart, the current price is over 9 percent lower than $0.317, the price at which XRP started the week. Ripple 7-day price chart Ripple 7-day price chart. Source: CoinMarketCap Ethereum ( ETH ), the second-largest altcoin by market cap, has seen its value decrease by over 4 percent over the last 24 hours. At press time, ETH is trading around $102, after having started the day at $107. On the weekly chart, Ethereums current value has dropped nearly 6 percent from $108, the price at which the coin started the week. Ethereum 7-day price chart Ethereum 7-day price chart. Source: CoinMarketCap Among the top 20 cryptocurrencies, the only one experiencing growth is Binance Coin ( BNB ), which is up about 14 percent at press time and is holding 10th place on CoinMarketCap data. As Cointelegraph recently reported , crypto exchange Binance recently added support for credit card crypto purchases through its new partnership with payment processor Simplex. The stock market is seeing a continuation of its recent slow but steady growth, with the S&P 500 up 0.47 percent, NASDAQ up 0.74 percent and the CBOE Volatility Index ( VIX ) having lost 1.54 percent of its value on the day at press time. However, as Cointelegraph recently reported , a recent analysis suggests that the growth currently reported by the stock market is a bull trap. Story continues Major oil futures and indexes are seeing mixed market movements, with WTI Crude down 0.17 percent, Brent Crude 0.16 percent and Mars US 1.34 percent. Opec Basket is up 2.28 percent and the Canadian Crude Index has seen a slight growth of 0.05 percent, according to OilPrices . Recently Matt Hougan, Global Head of Research at Bitwise Asset Management and president at ETF.com, expressed his belief that most cryptocurrencies will die eventually, but noted that he is still more bullish on crypto assets than on blockchain . Related Articles: Bitcoin Stuck Around $3,400 as the Stock Market Sees a Minor Downturn Stock Market Sees Significant Growth, While Bitcoin Keeps Stability Over Past 7 Days Bitcoin Hovers Over the $3,450 Mark as Top Cryptos See Slight Losses Bitcoin Approaches $3,500 as Top Cryptos See Growth || Traders Who Shorted Bitcoin From All-Time High $20,000 are Cashing Out: Is The Bottom is Near?: In the past two months, several traders who shorted Bitcoin from its all-time high at $20,000 have started to cash out in the $3,000 to $4,000 range.
The closure of several long-term Bitcoin short contracts followed the publicized cash out of former International Monetary Fund (IMF) economist Mark Dow’s short contract on Bitcoin in December.
Speaking to Bloomberg, on Dec 18, 2018, Dowsaid:
I’m done. I don’t want to try to ride this thing to zero. I don’t want to try to squeeze more out of the lemon. I don’t want to think about it. It seemed like the right time. || Virginia Police Department Reveals Why its Pension Fund is Betting on Bitcoin: fairfax virginia police pension bitcoin crypto Fairfax County, Virginia has targeted part of its pension fund toward investments in the Bitcoin and cryptocurrency industry, as well as blockchain technology in general. Now, they’re explaining why. Fairfax County Retirement Systems Director Jeff Weiler published a post in response to CCN and other media’s reporting on the county’s decision to invest in Morgan Creek’s latest offering, the Blockchain Opportunities Fund. Oversubscribed from its intended $25 million, the fund invests in blockchain companies. It captured $40 million from two Fairfax County pension plans and other institutions. Less Than 1% Of Two Retirement Funds Allocated to Crypto Ventures fairfax virginia police pension crypto bitcoin Source: Fairfax County Police/Facebook First things first, the post gives specifics about the amounts invested. In total, the Virginia retirement system dumped $21 million into the fund. $10 million is from the county employee’s retirement fund while $11 million is from the police officer’s fund. They represent 0.3% and 0.8% of the funds’ total assets, respectively. Read the full story on CCN.com .
[Random Sample of Social Media Buzz (last 60 days)]
Maybe you can try this
Get #free #Bitcoins #everyday. Try the new #CryptoTab browser. Get a #bonus of 0.00001000 BTC (1000 Satoshi) on your account.
https://get.cryptobrowser.site/4768725 || Gov't Shutdown Freezes SEC Activity, But Bitcoin ETF Date Unaffected - Bitcoinist http://j.mp/2CstS1f || @mikenovogratz on Why Bitcoin with @laurashin I like Laura’s no holds barred approach, like a lioness slowly moving in on the prey. Mike handled the interview quite well. Get ‘em next time Laura Grrr || i like it in fx and other markets where there are lot of things to trade a people who actually know what they are doing can share ideas with different currency pairs etc. But seeing 50 same charts of BTC in twitter is funny || Blijkbaar is @peeters_kris1 ook een expert in bitcoin mining en binaire opties! pic.twitter.com/IIRz0hTcHS || Valentines Day weekend bash in NewYorkCity book your tickets today via http://SoulNightEvents.com
#wallstreet #money #forex #entrepreneur #bitcoin #invest #investment #success #stockmarket… https://www.instagram.com/p/BsuPCs6gRBb/?utm_source=ig_twitter_share&igshid=1l71sj3p4ct7v … || Bitcoin - BTC
Price: $3,926.85
Change in 1h: +0.14%
Market cap: $68,901,735,260.00
Ranking: 1
#Bitcoin #BTC || The #BIGBTC is back! 1 #Btc #gtd #poker tournament at Swcpoker! #FREE tickets if you win the satellites, just che... https://swcpoker.eu/a/B0qfUTyM pic.twitter.com/FkZfYXSsGg || Bir numaralı kripto para Bitcoin'in fiyatı, Güney Kore merkezli kripto para borsası Coinnest'te aniden 50 dolara geriledi. pic.twitter.com/vvp3l06BKh || Bitcoin,10 milyon dolara ulaşır mı?
Varlık yönetimi şirketi Lucid Investment Strategies, Bitcoin’in fiyatının bir gün 10 milyon dolara ulaşabileceğini iddia etti.
#Bitcoin #Ethereum #Ripple #KriptoPara #Binance #Coinbase #KriptoBultenhttp://kriptobulten.online/2019/01/23/bitcoin10-milyon-dolara-ulasir-mi/ …
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Trend: no change || Prices: 3896.38, 3903.94, 3911.48, 3901.13, 3963.31, 3951.60, 3905.23, 3909.16, 3906.72, 3924.37
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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)]
'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 || Bitcoin worth $72 million stolen from Bitfinex exchange in Hong Kong: By Clare Baldwin HONG KONG (Reuters) - Nearly 120,000 units of digital currency bitcoin worth about $72 million (£54 million) was stolen from the exchange platform Bitfinex in Hong Kong, rattling the global bitcoin community in the second-biggest security breach ever of such an exchange. Bitfinex is the world's largest dollar-based exchange for bitcoin, and is known in the digital currency community for having deep liquidity in the U.S. dollar/bitcoin currency pair. Zane Tackett, Director of Community & Product Development for Bitfinex, told Reuters on Wednesday that 119,756 bitcoin had been stolen from users' accounts and that the exchange had not yet decided how to address customer losses. "The bitcoin was stolen from users' segregated wallets," he said. The company said it had reported the theft to law enforcement and was cooperating with top blockchain analytic companies to track the stolen coins. Last year, Bitfinex announced a tie-up with Palo Alto-based BitGo, which uses multiple-signature security to store user deposits online, allowing for faster withdrawals. "Our investigation has found no evidence of a breach to any BitGo servers," BitGo said in a Tweet. "With users' funds secured using multi-signature technology in partnership with BitGo, a lot more is at stake for the backbone of the bitcoin industry, with its stalwarts and prided tech under fire," said Charles Hayter, chief executive and founder of digital currency website CryptoCompare. The security breach comes two months after Bitfinex was ordered to pay a $75,000 fine by the U.S. Commodity and Futures Trading Commission in part for offering illegal off-exchange financed commodity transactions in bitcoin and other digital currencies. BITCOIN SLUMP Tuesday's breach triggered a slump in bitcoin prices and was reminiscent of events that led to the 2014 collapse of Tokyo-based exchange Mt Gox, which said it had lost about $500 million worth of customers' Bitcoins in a hacking attack. Story continues Bitcoin plunged just over 23 percent on Tuesday after the news broke. On Wednesday it was up 1 percent at $545.20 (BTC=BTSP) on the BitStamp platform. Tackett added that the breach did not "expose any weaknesses in the security of a blockchain", the technology that generates and processes bitcoin, a web-based "cryptocurrency" that can move across the globe anonymously without the need for a central authority. A bitcoin expert said the scandal highlighted the risks of companies using cryptography for their ledgers. "The more you rely on its benefits, the greater the potential for damage when keys are stolen. We still have some way to go to create highly secure but convenient systems," said Singapore-based Antony Lewis. The volume of bitcoin stolen amounts to about 0.75 percent of all bitcoin in circulation. It is not yet clear whether the theft was an inside job or whether hackers were able to gain access to the system externally. On an online forum, Bitfinex's Tackett said he was "nearly 100 percent certain" it was no one in the company. Bitfinex suspended trading on Tuesday after it discovered the breach. It said on its website that it was investigating and cooperating with the authorities. The security breach is the latest scandal to hit Hong Kong's bitcoin market after MyCoin became embroiled in a scam last year that media estimated could have duped investors of up to $387 million. The bitcoin trading company closed after the scandal. The president of the Hong Kong Bitcoin Association said the only way to protect information is to disperse it in so many small pieces that the reward for hacking is too small. "For an attacker, the cost-benefit strategy is quite easy: How much is in the pot and how likely is it that I'm getting the pot?" said Leonhard Weese. (Additional reporting by Hera Poon in HONG KONG, Jeremy Wagstaff in SINGAPORE and Jemima Kelly in LONDON; Editing by Will Waterman) || MarilynJean Interactive (MJMI.QB) Expands Into Blockbuster New Crypto-Currency Ethereum: HENDERSON, NV / ACCESSWIRE / August 9, 2016 / MarilynJean Interactive (MJMI.QB) today announced it has expanded its business plan and acquisition target search into the blockbuster new crypto-currencyEthereum. Ethereum's market capitalization already exceeds $900 Million. The Wall Street Journal recently reported that with a rising market value and a roster of high profile patrons, Ethereum is the next hot thing in cryptocurrencies. Ethereum is an open software platform, comprising a currency called Ether, a public blockchain ledger for keeping track of transactions and tools for building smart contracts that automatically make payments when their terms are fulfilled. Anyone can develop new applications that make use of its code which allows for the creation of financial structures that can run themselves. Some of these applications include: The creation of multisignature escrow contracts. The construction of peer-to-peer gambling. Savings wallets where only a percentage of funds can be withdrawn, but turned off if jeopardized. A decentralized data feed where users can provide a value. The growth of predictive and decentralized marketplaces. Automating trade finance. Tracking loyalty points and gift cards. Ethereum takes the decentralized network that powers Bitcoin and repurposes it for much broader use.Ethereum can run entire futures and options markets. These are multi-billion dollar industries currently run by major stock exchanges around the world. Microsoft (NASDAQ:MSFT) gave the fledgling platform a big boost last October when it integratedEthereum into its Azure business-services product. Peter Janosi, MJMI's president said: "Ethereum is poised to change the way a huge range of contracts are fulfilled and executed. Imagine a world where options and futures contracts could be independently verified and executed, bypassing traditional stock exchanges. This technology has the potential to completely change the way billions of dollars of financial instruments and are traded and settled. We are excited to be expanding our plans to include this exciting new crypto-currency." Story continues About MJMI MJMI is in the business of providing safe and accessible services for the users of Bitcoin and othercrypto-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 ofbitcoin 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 ofBitcoin to effect transactions. MarilynJean Media Interactive is among the first publicly traded companies focussed on bitcoin and thecrypto-currency space. The company's trading symbol is MJMI.QB. Website: www.marilynjean.com Press Contact: investorcommunica@gmail.com SOURCE: MarilynJean Interactive || The dark web marketplace where you can buy 200 million Yahoo accounts is under cyberattack: Dark Web Thumb 4x3 (Shutterstock) The popular dark web marketplace where a hacker is selling 200 million user accounts stolen from Yahoo says it is currently under cyberattack. The site, called The Real Deal, is one of the go-to spots for hackers trying to sell off databases in exchange for Bitcoin. In the case of the reported Yahoo hack , that means upwards of 200 million user credentials are available for sale on the site for 3 Bitcoin, or roughly $1,800. Yahoo is expected to confirm the breach of its service soon, according to a report from Recode published Thursday. That reporting comes as the site hosting the database is under cyber attack and inaccessible to users. It's unknown who is behind that attack; The Real Deal only says "Market under DDoS" when a user goes to the login screen on its site, which is only accessible through the Tor browser. Keeping up the site isn't affected by a possible influx of dark web users looking for the goods from Yahoo. Instead, as the message indicates, The Real Deal is being hit by a DDoS, or distributed denial-of-service attack, a crude way to take down a website by flooding it with traffic. Here's what The Real Deal looks like now: The Real Deal (The Real Deal) The Real Deal (The Real Deal) NOW WATCH: NASA just took these incredible images of mysterious rock formations on Mars More From Business Insider Hackers Steal £3.4 Million From UK Bitcoin Exchange Bitstamp UPDATE 1-Yahoo to provide details on massive data breach - Recode Notes From Yahoo-Microsoft Conference Call On Search Deal || Bitcoin worth $72 million stolen from Bitfinex exchange in Hong Kong: By Clare Baldwin HONG KONG (Reuters) - Nearly 120,000 units of digital currency bitcoin worth about US$72 million was stolen from the exchange platform Bitfinex in Hong Kong, rattling the global bitcoin community in the second-biggest security breach ever of such an exchange. Bitfinex is the world's largest dollar-based exchange for bitcoin, and is known in the digital currency community for having deep liquidity in the U.S. dollar/bitcoin currency pair. Zane Tackett, Director of Community & Product Development for Bitfinex, told Reuters on Wednesday that 119,756 bitcoin had been stolen from users' accounts and that the exchange had not yet decided how to address customer losses. "The bitcoin was stolen from users' segregated wallets," he said. The company said it had reported the theft to law enforcement and was cooperating with top blockchain analytic companies to track the stolen coins. Last year, Bitfinex announced a tie-up with Palo Alto-based BitGo, which uses multiple-signature security to store user deposits online, allowing for faster withdrawals. "Our investigation has found no evidence of a breach to any BitGo servers," BitGo said in a Tweet. "With users' funds secured using multi-signature technology in partnership with BitGo, a lot more is at stake for the backbone of the bitcoin industry, with its stalwarts and prided tech under fire," said Charles Hayter, chief executive and founder of digital currency website CryptoCompare. The security breach comes two months after Bitfinex was ordered to pay a $75,000 fine by the U.S. Commodity and Futures Trading Commission in part for offering illegal off-exchange financed commodity transactions in bitcoin and other digital currencies. BITCOIN SLUMP Tuesday's breach triggered a slump in bitcoin prices and was reminiscent of events that led to the 2014 collapse of Tokyo-based exchange Mt Gox, which said it had lost about $500 million worth of customers' Bitcoins in a hacking attack. Story continues Bitcoin plunged just over 23 percent on Tuesday after the news broke. On Wednesday it was up 1 percent at $545.20 on the BitStamp platform. Tackett added that the breach did not "expose any weaknesses in the security of a blockchain", the technology that generates and processes bitcoin, a web-based "cryptocurrency" that can move across the globe anonymously without the need for a central authority. A bitcoin expert said the scandal highlighted the risks of companies using cryptography for their ledgers. "The more you rely on its benefits, the greater the potential for damage when keys are stolen. We still have some way to go to create highly secure but convenient systems," said Singapore-based Antony Lewis. The volume of bitcoin stolen amounts to about 0.75 percent of all bitcoin in circulation. It is not yet clear whether the theft was an inside job or whether hackers were able to gain access to the system externally. On an online forum, Bitfinex's Tackett said he was "nearly 100 percent certain" it was no one in the company. Bitfinex suspended trading on Tuesday after it discovered the breach. It said on its website that it was investigating and cooperating with the authorities. The security breach is the latest scandal to hit Hong Kong's bitcoin market after MyCoin became embroiled in a scam last year that media estimated could have duped investors of up to $387 million. The bitcoin trading company closed after the scandal. The president of the Hong Kong Bitcoin Association said the only way to protect information is to disperse it in so many small pieces that the reward for hacking is too small. "For an attacker, the cost-benefit strategy is quite easy: How much is in the pot and how likely is it that I'm getting the pot?" said Leonhard Weese. (Additional reporting by Hera Poon in HONG KONG, Jeremy Wagstaff in SINGAPORE and Jemima Kelly in LONDON; Editing by Will Waterman) || 9 Best Laptops for $500 or Less: Laptops have become the choice computer for college students, business people on the go and even families at home. TheVaio Zhas a battery life upwards of 22 hours; theSamsung Notebook 9weighs less than two pounds. And while some laptops could set you back nearly $2000, there are plenty of options that are both high quality and affordable.
Consumer Reportstested 137 laptops and graded them on a range of features: performance (speed on productivity apps, web browsing, multimedia and 3D games); ergonomics (keyboard, pointing device, feature accessibility and, if applicable, touchscreen); portability (battery life and weight); versatility (hardware and software, along with tech support and warranty agreements); and display (screen size, glare, clarity, color, contrast, brightness etc.).
We also checked with CNET and PCWorld and found similar results.
Related: The $200 Billion Technology That Will Replace Your Wallet
Here are some of the best affordable laptops of 2016:
1. Asus Transformer Book T300CHI-F1-DBOverall Score:64Retail Price:$500The performance of this laptop-tablet (the touchscreen detaches for a 2-in-1 device) is top-notch. The laptop responds quickly, whether running emails, word processing, browsing the web, streaming videos or playing complex games.
2. Asus VivoBook E403SA-US21Overall Score:62Retail Price:$350Asus’ VivoBook is great for basic web browsing and productivity applications. With a battery life over 15 hours and a weight of just over three pounds, this is a good choice if you still want a big screen (14-inches) while on the move.
3. Microsoft Surface 3Overall Score:61Retail Price:$500Although it has less memory and a small solid-state drive, this is a well-rounded laptop – light, great battery, and good basic performance. It also comes with a year’s worth of Microsoft Office 365 Personal, which would cost you $100 otherwise.
Related: Your Money: Avoid the Shock of a Fifth Year of College Tuition
4. Asus VivoBook E200HA-US01Overall Score:58Retail Price:$211.15A smaller and cheaper version of the VivoBook above, Asus’ 11.6 inch VivoBook is light (just over 2 pounds) and has a battery life of nearly 15 hours. Its processor preserves the battery, though sometimes at the cost of performance, which can be slow. You will probably need cloud storage since this VivoBook has only 2GB of memory.
5. Asus Transformer Book TP200SADH04TOverall Score:57Retail Price:$299-339A smaller version of the Transformer Book T300CHI, with a touchscreen and very long battery life, the performance is mediocre. But it works well for simple tasks like email, word processing and web browsing.
Related: Big Banks Just Got Serious About Bitcoin Technology
6. HP Pavilion x360-13tOverall Score:57Retail Price:$490This 13.3-inch laptop is comparatively heavy at nearly 4 lbs, but it is versatile, able to convert to stand, tent and tablet modes. While there is a touchscreen, the full-sized keyboard and touchpad are well designed and easy to use.
7. Dell Inspiron 11 3000Overall Score:56Retail Price:$180Although its speed is mediocre, this laptop has a long battery life and is easy to carry. The matte screen reduces glare, making it a great laptop for brightly lit rooms and for outdoors use.
8. Acer Aspire E5-574-53QSOverall Score:56Retail Price:$389.99The 15.6-inch Acer Aspire is one of the best value large laptops you’ll find. Besides well-designed keyboards and touchpads, the laptop comes with a huge 1TB hard drive.
9. Dell Inspiron I3452-600BLKOverall Score:54Retail Price:$160For a 14-inch laptop, this Dell is very light, and the battery lasts nearly 13 hours. The keyboard and touchpad aregreat, and performance is good enough for web browsing,emailsand other productivity apps. || '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 Aug. 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 specializes 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 licenses 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) || Tim Cook's five-year run as Apple's CEO: Wall Street is in a wait-and-see mode. Stocks (^DJI,^GSPC,^IXIC) were mostly lower in early trading as investors remain cautious ahead of Fed Chair Janet Yellen’s speech later this week.
Pfizer(PFE) shares remain in the spotlight. The US drug maker that bought cancer drug firm Medivation (MDVN)just a couple of days ago is now buying part of AstraZeneca’s (AZN) antibiotics business. The deal could be valued at more than $1.5 billion.
FitBit(FIT) shares got a healthy pop ahead of the open after a US trade judge ruled late Tuesday that the maker of wearable fitness trackers did not steal trade secrets from rival Jawbone. However, a final decision on the verdict will happen by the end of the year.
Express(EXPR) shares fell to a 52-week low in early trading. The retailer cut its earnings outlook for the year after delivering a miss on both its top and bottom lines for its fiscal second quarter. Revenue fell nearly 6% from a year ago as sales in existing stores came in much weaker than analysts expected. The company said the results reflected challenging store traffic.
Intuit(INTU) shares fell in early trading. The maker of TurboTax software provided a weak outlook for its current quarter, even though earnings and revenue for its fiscal fourth quarter came in above expectations.
Tesla’s better batteries
Tesla(TSLA) unveiled improved batteries that will extend the range of its vehicles. Tesla’s Model S Sedan will now go 315 miles on a single charge, up from about 200. The car — with a speed option called “Ludicrous mode” — will go from zero to 60 miles an hour in just 2.5 seconds. Tesla boss Elon Musk claims that makes it the fastest car in the world.
Banks bet on blockchainFour big banks are reportedly teaming up to develop a system to use digital currency to clear and settle financial transactions. The system will use the same so-called blockchain technology behind Bitcoin. The banks are Switzerland’s UBS (UBS), Deutsche Bank (DB), Santander (SAN) and BNY Mellon (BK). Blockchain technology can make payments faster, cheaper and easier to audit.
Tim Cook’s anniversary
On this date in 2011 Cook took over as Apple’s (AAPL) CE0 from the gravely sick Steve Jobs. While Apple is still the largest company by market value, many worry the company’s best days are in the rear view mirror. Since Cook took, over Apple’s stock has doubled. || Kim Dotcom says he has the answer to bitcoins civil war and will soon give it to the world: Kim Dotcom launches his new website "Mega" in Auckland One-time online pirate king Kim Dotcom is poised to launch a new version of his file-sharing service Megaupload. Its not only going to revolutionize encryption and security when sharing your files in the cloud, he promises, but its going to solve a problem that has vexed the smartest minds in cryptocurrency as a bonus. This is the order countries will march in during the Olympic opening ceremonies @CryptoGambleh The 'cache' in Bitcache solves the problem. It eliminates all blockchain limitations. Wait for it :-) Kim Dotcom (@KimDotcom) August 5, 2016 NBC is airing the Rio Olympics opening ceremony on a tape delay, but theres still a way for Americans to watch it live The blockchain limitation Dotcom speaks of is the bitcoin networks ability to process a larger quantity of transactions than its currently capable of. Its a question that has turned the bitcoin worlds top developers against one another, leading to paralysis over how best to scale up the bitcoin networks capacity, and even public apostasy by one of the digital currencys earliest contributors. The battle over the open-source protocol has been described as a civil war. Dotcom is vague about how he will solve the scaling problem. But hes already decided on a name for the solutionBitcache. He says all will be revealed at the launch of his new platform, Megaupload 2.0, on Jan. 20, 2017. In the meantime, he promises Bitcache will do something else: boost the price of bitcoin fourfold to over $2,000. The new platform will link every file transfer to a bitcoin micro-transaction. Megaupload had 150 million users at its peak and was responsible for $500 million in pirated material , according to an indictment from the US Department of Justice. Dotcom is currently in New Zealand appealing extradition to the US . If the relaunched Megaupload gets even a fraction of that popularity, it could result in millions more new transactions flowing over the bitcoin network. With that in mind, this is his investment advice: Story continues Buy Bitcoin while cheap. Like right now. Trust me. Kim Dotcom (@KimDotcom) August 5, 2016 While Dotcoms promises may simply be the bluster of an internet raconteur, he has been tinkering with radical payment ideas for years. In 2012, he brainstormed ideas for payments systems on Twitter, attracting prominent bitcoin advocates to the discussion. Last month, he seems to have cracked the puzzle, announcing this on his social network: I can tell you that Megaupload and Bitcoin had sex. There is a pregnancy and I have a feeling that the baby will be such a joy. Kim Dotcom (@KimDotcom) July 10, 2016 Sign up for the Quartz Daily Brief , our free daily newsletter with the worlds most important and interesting news. More stories from Quartz: The Rio Olympics finally represents the whole world, including millions with no country Investors have placed a one-way bet on Uberwhich made us want to find a way to short it || You're So Money: NY Judge Rules Bitcoin Qualify As 'Funds': A New York judge ruled bitcoin qualifies as money as part of a judgment related to a case over hacking attacks against JPMorgan Chase & Co. (NYSE: JPM ) and other companies, according to a report on Fortune . The report said U.S. District Judge Alison Nathan in Manhattan rejected Anthony Murgio's bid to dismiss two charges regarding his alleged operation of Coin.mx. Prosecutors have called Coin.mx an "unlicensed bitcoin exchange." Related Link: What Is Blockchain, And Why Should You Care? But, Nathan ruled bitcoin satisfies the definition of a virtual currency. "Bitcoins are funds within the plain meaning of that term. Bitcoins can be accepted as a payment for goods and services or bought directly from an exchange with a bank account. They therefore function as pecuniary resources and are used as a medium of exchange and a means of payment," Fortune reported, quoting Nathan. Brian Klein, a lawyer for Murgio, said he disagreed with the decision. Last year, prosecutors charged Murgio over the operation of Coin.mx and in April charged his father, Michael, with participating in bribery to support the exchange. Full ratings data available on Benzinga Pro. Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card! See more from Benzinga On Deck Has 'More Powerful Future Operating Leverage' © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
1 #bitcoin = $11467.00 MXN | $609.86 USD #BitAPeso 1 USD = 18.8MXN http://www.bitapeso.com || 1 KOBO = 0.00000285 BTC
= 0.0017 USD
= 0.5389 NGN
= 0.0246 ZAR
= 0.1720 KES
#Kobocoin 2016-09-04 22:00 pic.twitter.com/kPRwBKxE0F || One Bitcoin now worth $571.75@bitstamp. High $583.97. Low $552.00. Market Cap $9.032 Billion #bitcoin || Bitcoin price difference over the last hour: -$1.00. || #UFOCoin #UFO $0.000011 (-0.30%) 0.00000002 BTC (-0.00%) || #ChainCoin #CHC $0.000073 (0.41%) 0.00000012 BTC (-0.00%) || 1 KOBO = 0.00000991 BTC
= 0.0058 USD
= 1.8502 NGN
= 0.0792 ZAR
= 0.5875 KES
#Kobocoin 2016-08-06 18:00 pic.twitter.com/Ib6bpvCAjM || 1 BTC
$ 581.52
£ 440.68
€ 514.30
http://btcrate.org || Meet Monero, the Currency Dark Net
bitcoinより匿名性が高い仮想通貨の仕組み。取引毎にアカウントを作る事とトレーサビリティがない事が肝なのかな。
http://motherboard.vice.com/read/monero-cryptocurrency-dark-net-drug-dealers-hope-more-anonymous-than-bitcoin-alphabay … - via @VICE || $593.42 #btce;
$599.49 #GDAX;
$600.42 #itBit;
$601.99 #bitstamp;
$597.00 #OKCoin;
$600.00 #kraken;
#bitcoin news: http://bit.ly/1VI6Yse
|
Trend: up || Prices: 600.83, 608.04, 606.17, 604.73, 605.69, 609.73, 613.98, 610.89, 612.13, 610.20
|
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 2017-10-02]
BTC Price: 4409.32, BTC RSI: 59.99
Gold Price: 1272.70, Gold RSI: 36.59
Oil Price: 50.58, Oil RSI: 55.01
[Random Sample of News (last 60 days)]
Apple is slipping after disappointing reviews of the new Apple Watch: (Justin Sullivan/Getty)
Appleshares are down 1.82% on Wednesday in following disappointing reviews of the Apple Watch Series 3.
At its recent product launch event, Apple said the Series 3 would be available with an LTE cellular connection, which theoretically would allow users to make phone calls and stream music without carrying their phone.
Reviews of the new watch were posted on Wednesdaymorning, and most were users were disappointed with the product.
Some marquee features of the watch, like voice calls and Siri, failed to work reliably because of its shoddy cell connection.
The cell connection, which costs $10 a month, drains the battery quickly according to most reviewers. Many experienced about half a day of battery life from the watch when using the cell connection heavily.
“When Apple Watch Series 3 joins unauthenticated Wi-Fi networks without connectivity, it may at times prevent the watch from using cellular,"Apple said in a statement. "We are investigating a fix for a future software release.”
Apple is up 34.15% this year, including Wednesday's drop.
(Markets Insider)
NOW WATCH:Bitcoin's bubble swells with a new record high
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Draghi sparked a euro rally
EUR/USD hit a two-year high this week, after expectations grew that the European Central bank was edging closer to tightening monetary policy, following ECB president Mario Draghi’s comments that policymakers would decide on tapering stimulus in October.
Mr Draghi, however, attempted to curb the strength of euro, saying that the currency’s strength “represents a source of uncertainty which requires monitoring with regard to its implications for the medium term outlook for price stability”.
Draghi’s comments came after the ECB kept rates at record lows and confirmed that asset purchases would continue at least until December.
Bitcoin bulls pegged back after China’s quick one-two regulatory combo
China’s move to ban the use of initial coin offerings to raise funds earlier this week sent shockwaves through the cryptocurrency market as Bitcoin dipped below $4,000.
After a sharp rebound from the earlier slump, Bitcoin looked set to test its recent high of $4,911, however, the popular digital currency’s rebound came to an abrupt end following a report that Chinese regulators were planning to shut down local cryptocurrency exchanges.
The financial news site Caixin reported that the Chinese government is considering banning key cryptocurrency exchanges in China which would leave many Chinese citizens unable to use exchanges to buy cryptocurrencies like bitcoin.
Crude oil inventories rose for the first time in 10 weeks
Crude oil fell more than 3% on Friday but strong gains earlier in the week offset the slump in Friday, helping crude oil futures avoid a sixth-straight weekly decline.
Investor optimism, however, remained subdued as refinery activity is not expected to return to normal at least until the end of September while concerns over the impact of Hurricane Irma on oil demand persisted, after Irma made landfall in Florida on Friday.
The lower refinery activity weighed on crude demand as data from the Energy Information Administration on Wednesday showed stockpiles rose for the first time in ten weeks.
Gold surged to 1-year highs
Gold continued its recent trend higher rising to a one-year high Friday to post its third-weekly gain boosted by a tumble in the dollar to a thirty-two-month low against its rivals as rate-hike expectations eased following dovish comments from Fed officials earlier in the week.
Minneapolis Federal Reserve Bank President Neel Kashkari said the Federal Reserve’s recent interest rate hikes may be slowing inflation and inflicting “real harm” on U.S. economic growth.
"Maybe our rate hikes are actually doing real harm to the economy," said Kashkari.
Kashhkari comments echoed that of Federal Reserve Governor Lael Brainard, who urged the U.S. central bank to delay raising interest rates until the trend of slowing inflation improved.
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Top 4 things that moved markets this past week
Today's clean energy ETF performance || Top 5 things to know in the market on Monday: Top 5 things to know today in financial markets Investing.com - Here are the top five things you need to know in financial markets on Monday, September 11: 1. Global stocks rally as North Korea tensions ebb... for now Global stock markets started the week on the front foot , as appetite for riskier assets improved amid relief that North Korea refrained from conducting a weapons test to mark the anniversary of the country's founding. There had been speculation in the lead up to the weekend that North Korea could launch its next missile test then to celebrate the occasion. Still, tensions may return with a United Nations Security Council vote due as early as today , that calls for further sanctions on the isolated nation. Stock markets across Asia closed mostly in positive territory , with benchmarks in Tokyo and Seoul ending higher, while markets in mainland China were mixed. In Europe, shares inched broadly higher in mid-morning trade, with almost all major bourses across the region in the green. Meanwhile, U.S. stock futures pointed to a stronger open on Wall Street, with the Dow and S&P futures gaining 0.5%, while the Nasdaq was on track to rise 0.7%. 2. Hurricane Irma weakens after making landfall Risk sentiment received a further boost after Hurricane Irma struck the U.S. southeast with less force than once feared , scaling back estimates for economic damage. Irma hit Florida on Sunday morning as a dangerous Category 4 storm, the second highest level on the five-step Saffir-Simpson scale, but by afternoon as it barreled up the west coast, it weakened to a Category 2 with maximum sustained winds of 110 miles per hour (177 kph). It is forecast to weaken to a tropical storm over northern Florida or southern Georgia later Monday. Oil, gasoline and orange juice futures reacted favorably to the news, while shares of insurance providers looked set to enjoy a strong day of gains. 3. Safe-havens lose shine Demand for safe-haven assets such as gold, the Japanese yen and sovereign bonds eased, as tensions over North Korea eased and Hurricane Irma weakened. Story continues Prices of the yellow metal fell around $10.00 , or 0.8%, to $1,342.17 a troy ounce, pulling back from Friday's peak of $1,362.40, which was the best level since Aug. 3, 2016. Meanwhile, the dollar was up 0.6% at 108.45 against the yen, moving away from a 10-month nadir of 107.32 yen touched on Friday. Against a basket of currencies, the greenback added almost 0.2% to 91.50, bouncing back after skidding to a two-and-a-half-year low of 90.99 on Friday. Investors also scaled back purchases of global bonds, pushing U.S. Treasury and German Bund yields higher. 4. Euro slips below $1.20 on Coeure jawboning The euro fell below the $1.20-level after European Central Bank Executive Board member Benoit Coeure said that persistent exogenous shocks to the exchange rate could lead to unwarranted tightening of financial conditions with undesirable consequences for inflation. The remarks came after ECB President Mario Draghi indicated last week that the bank may start tapering its massive stimulus program this autumn. The euro fell to a session low of 1.1993 against the dollar after his comments before recovering partially. It reached a more than two-year peak of 1.2092 on Friday. 5. Bitcoin in focus amid China crackdown rumors Bitcoin, the world's biggest digital currency by market cap, edged lower, extending weekend losses on reports saying that China was planning to shut down local cryptocurrency exchanges. Bitcoin was last at $4,160.60, down $71.50, or around 1.7%, well below an all-time high of $4,911.80 touched on Sept. 2. The latest crackdown on cryptocurrency activity in China comes less than a week after Beijing sent shockwaves through the market, after imposing a ban on individuals and businesses from raising funds through initial coin offerings (ICOs). Related Articles Top 5 things to know in the market on Monday Top 5 things to watch in markets this week China central bank issues notice on implementing U.N. resolutions || Bitcoin exchange BTCChina says to stop trading, sparking further slide: By Brenda Goh and Jemima Kelly BEIJING/SHANGHAI/LONDON (Reuters) - Chinese bitcoin exchange BTCChina said on Thursday that it would stop all trading from Sept. 30, setting off a further slide in the value of the cryptocurrency that left it over 30 percent away from the record highs it hit earlier in the month. China has boomed as a cryptocurrency trading location in recent years, as investors and speculators flocked to domestic exchanges that formerly allowed users to conduct trades for free, boosting demand. But that has prompted regulators in the country to crack down on the cryptocurrency sector, in a bid to stamp out potential financial risks as consumers pile into a highly risky and speculative market that has seen unprecedented growth this year. Just hours after BTCChina announced its closure, Chinese news outlet Yicai reported that the country plans to shut down all bitcoin exchanges by the end of September, citing financial sources in Shanghai. BTCChina said its decision was based on a Sept. 4 directive from Chinese authorities that expressed concern over investment risks involved in cryptocurrencies and ordered a ban on so-called initial coin offerings, or ICOs - the practice of creating and selling digital currencies or tokens to investors to finance start-up projects. That ban, as well as warnings by regulators in other countries, has driven fears of a wider crackdown and prompted a sell-off that has helped wipe almost $60 billion off the total value of cryptocurrencies since they hit record highs at the start of the month, according to industry website Coinmarketcap. "The Chinese ban is causing a panic in the market as mixed messages and lack of clarity has turned sentiment negative," said Charles Hayter, founder of data analysis site Cryptocompare. BTCChina, one of China's largest bitcoin trading platforms, which also runs an international exchange out of Hong Kong, will stop registration of new users from Thursday, it said on its official microblog. Story continues "We will stop all trades on the digital trading platform starting Sept. 30," it said. Its co-founder, Bobby Lee, told Reuters the move would not affect trading on the BTCC international exchange, however. The price of bitcoin tumbled particularly sharply on BTCChina after the news. By 1233 GMT, it was down 18 percent on the exchange, at 20,510 yuan. On U.S. exchange Bitstamp, it slid as much as 10 percent to a five-week low of $3,426.92, having hit a record high of nearly $5,000 on Sept. 2. PANIC SPREADS Panic also spread to other cryptocurrencies, with bitcoin's main rival ether - sometimes called ethereum - also down around 10 percent, according to Coinmarketcap. Reuters and other media had reported this week, citing sources, that China planned to further ban exchanges that allowed virtual currency trading but the regulator has yet to make an announcement. Spokeswomen for OkCoin and Huobi, BTCChina's main rivals in China, declined to say whether they would announce similar moves. Huobi said it had not received any clear directives from regulators to do so. Investors in China contributed up to 2.6 billion yuan, or $397 million, worth of cryptocurrencies through initial coin offerings in January-June, state-run media have said, citing data from the National Committee of Experts on Internet Financial Security Technology. Adding to bitcoin's woes this week was a warning by Jamie Dimon, chief executive of JPMorgan, that the cryptocurrency was a "fraud" and was set to "blow up" - comments that helped fuel a slide of as much as 11 percent in bitcoin on Wednesday. Bitcoin is on track for its worst month since January 2015. (Reporting by Brenda Goh, Beijing Monitoring Desk and Jemima Kelly; Editing byLarry King) || Dollar up in Asia with China manufacturing top data bill: Investing.com - The dollar was up in early Asia on Thursday ahead of a slew of data from key economies.
USD/JPY changed hands at 110.30, up 0.05%, while AUD/USD traded at 0.7904, up 0.03%
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted at 92.84, up 0.62%.
A busy day in Asia with data. In Japan, provisionalindustrial productiondata for July is due with a 0.5% decline expected.
Then in China, the China Federation of Logistics & Purchasing'smanufacturingandservicesPMIs for August are due, with the manufacturing been at 51.3, a dip from 51.4 last month.
In Australia,HIA new home salesfor July are due andprivate new capital expenditurefor the second quarter, seen up 0.3% andprivate sector creditfor July seen up 0.5%.
Overnight, the dollar continued its comeback from a two-and-a-half-year slump, buoyed by a pair of economic reports that topped economists’ forecasts, raising investor expectations for solid third-quarter economic growth.
The dollar continued to rebound from a two-and-a-half year slump sustained on Monday, after private payrolls and gross domestic product data topped forecasts.
ADP employment data for August estimated private-sector payrolls rose by 237,000 compared a consensus estimates of 185,000.
The stronger-than-expected private payrolls report, which often serves as a precursor to monthly nonfarm payrolls data slated for Friday, pointed to continued strength in the U.S. labor market, easing expectations the Federal Reserve may abandon its plan to hike rates later this year.
The Commerce Department raised its estimate of second-quarter GDP growth to an annual rate of 3% from 2.6% previously, beating economists’ forecasts of 2.8%.
The rebound in the greenback pegged back the euro, a day after the single currency soared above $1.20 on the back of expectations that the ECB will announce plans at its autumn meeting to taper its bond-buying program.
The greenback pared losses against safe-haven currencies like the yen and Swiss franc, following a dip in geopolitical tensions, as traders weighed President Donald Trump’s somewhat measured response to North Korea’s missile launch over Japan.
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Forex - Dollar adds to gains after solid U.S. data || Luno raises $9M to bring its bitcoin wallet, exchange and services to Europe: Luno, a bitcoin wallet and exchange based out of Singapore, is riding the crypto wave into Europe after it closeda $9 million Series B roundfor market expansion.
The funding was led by new investorBalderton Capital, with participation from existing backer Digital Currency Group. South Africa's AlphaCode -- also a new arrival on the cap table -- joined the deal which takes Luno, which was formerly called BitX, to $13.8 million raised to date.
Major league investor Naspers, another that hails from South Africa, led a $4 million investment in June 2015.
The products these backers are throwing their weight behind include a bitcoin wallet for storing crypto currencies, an exchange for buying them and merchant services that enable banks and retailers to work with bitcoin. In South Africa, in particular, Luno has worked with the likes ofPick N Paywhile it wasamong the first batchlet into the FCA's Regulatory Sandbox in London last year.
Luno said the money will go towards bringing those services to 35 new countries in Europe. The company -- which has offices in Singapore, Cape Town and London -- plans to double its current headcount of 70 staff to support this new sprint, which takes its services to a total of 40 countries worldwide.
"[The expansion] might sound quite trivial but as you probably know there are not a lot of companies that offer these kind of services in Europe -- certainly not in a very mass-market, user-friendly way, and particularly with a really good mobile product coupled with good customer service," Luno CEO Marcus Swanepoel told TechCrunch.
"As we expand the team and grow in these countries we will be rolling out more deposit methods and country localization that we are already working on," he added.
Bitcoin has been a tear this year, with the cryptocurrency's value against the U.S. dollar reaching new highs in 2017.It reached $2,000 for the first time in Maybefore surging to$3,000andthen $4,000 in August. Bitcoin touched $5,000 on some exchanges earlier this month beforea ban on trading in China, and other market uncertainties saw the price decline to around $4,000 as of today.
Despite that volatility, companies and investors see the potential for the digital currency particularly around cross border transfers and -- with the bitcoin blockchain -- infrastructure and operational opportunities for the banking industry. Ethereum, the world's second most popular crypto coin,is also emerging as a platform for developers,beyond helping companies raise money via ICOs. || Every county in the U.S. now has an Obamacare insurer for 2018: At some point this year, 80 counties across the country were in danger of not complying with the ACA, or Obamacare, in 2018. Today, it was announced that the final county without an insurer in the U.S. — Paulding in Ohio — will have a plan forits 334 residentsin 2018. Nonprofit managed care companyCareSource will sell the health plans.
“This is showing that the ACA is stubbornly failing to fail,” the Kaiser Family Foundation’s Cynthia Cox told Yahoo Finance. Cox said that insurers have struggled in the past to make money, but analysis from Kaiser and many others has found that insurers are on a profitable path this year. “Despite the political uncertainty, insurers seem to be interested in participating in this market,” she said.
Last week, Centene (CNC) filled the gap left after Anthem (ANTM) and other major insurers withdrew from some Nevada counties. Wisconsin’s sole uninsured county, also left bare after an Anthem departure, found coverage, though the insurer is not currently known. This follows previously uninsured counties in Missouri, Tennessee and Indiana finding solutions for 2018.
All of this contradicts President Donald Trump’s repeated assertion that the Affordable Care Act is failing. “Obamacare isn’t failing. It’s failed. Done,”Trump said in July.“We’ll let Obamacare fail.”
In some instances, a single insurer like Centene has come to fill the void left by insurance companies. But often times, said Cox, the process is complex and involves piecing together a solution. This is what happened in Ohio.
Following Anthem’s exit, the state stitched together a patchwork of multiple insurers to cover 20 counties. “The state has been working hard to get insurers to cover all these areas,” said Cox.
These solutions aren’t seamless, but Cox said there are incentives for companies to swoop into uninsured markets. Many insurers have provider networks in various counties, making it logistically easy to set up shop, and being the only network is tantamount to a monopoly. “[These insurers] can charge higher premiums without competitors,” said Cox.
There are other reasons why Centene may be able to deal with areas Anthem is unwilling to handle. Centene has been a Medicaid Managed Plan provider that’s been successful on exchange markets, said Cox. This may enable it to leverage those provider networks, which may be narrower and cheaper with lower reimbursement rates — something that would translate to lower premiums and more competitiveness. “It’s a business decision for all these companies at the end of the day,” said Cox.
On top of that, coming in as the only insurer in town can earn goodwill from the public and from local governments. “State insurance departments are under pressure to get [counties] covered,” said Cox. “They also grant Medicaid Managed Care contracts, so there may be some incentive for these companies.”
This means that Medicaid might be partly to thank for the ACA’s success in these counties, though it’s impossible to know. “Negotiations are between state and insurer,” said Cox. “But that may be part of what’s going on here.”
Much of the Obamacare void in counties was because of Anthem’s departure. In many counties, the insurer was the sole shingle hanging on the exchanges. But instead of citing losses, Anthem instead pointed to the uncertainty of a shrinking market and the cost sharing reduction payments (CSR) being paid by the Trump administration that helps subsidize insurance for low-income individuals.
“This problem has come up at least in part because of the cost sharing subsidy payments,” said Cox. “It’s hard to say how much of it might have happened without [the uncertainty].”
The decision to continue to keep making these CSR payments is up to Trump,giving him massive control over the future state of the ACA, which he continues to contend it is failing. Even though it’s unknown whether CSR payments will continue, the individual insurance market has still managed to cover all but one county, disproving his assertion and highlighting that Trump cannot simply “let it fail.”
Update 8/24:This post was updated to reflect the last U.S. county not covered under Obamacare, Paulding, Ohio, will have health plans in 2018.
Ethan Wolff-Mannis a writer at Yahoo Finance focusing on consumer issues, tech, and personal finance. Follow him on Twitter@ewolffmann. Got a tip? Send it totips@yahoo-inc.com.
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How ringless spam voicemails became a partisan issue || Daily Economic Calendar, September 5, 2017: There’s an early opening for this agenda at 5:45 AM when the high importance Swiss GDP for the second quarter is released. Growth accelerated in the year’s opening quarter, but it was still short of the market expectations for a half a percent gain. Swiss CPI for August continues data run at a quarter past 7.
Consumer prices have slipped for two months in a row now and a flat reading is expected this time around. Then the August Services PMI data batch begins with Italian figures available at7:45, followed by Finalized French numbers five minutes later, Finalized German data at7:55and then the whole bloc’s final stats at 8 AM. According to the flash report, Services sector activity slipped to 54.9, which is the lowest level in seven months. UK report wraps up the Services PMI run at8:30. The headline Services PMI Business Activity Index picked up to 53.8 in July, from 53.4 in June. Euro Zone retail sales for July are up next at 9 AM. Sales saw a strong half a percent monthly gain in June and this was the fifth monthly increase in a row. Ozzy Dollar could potentially be shaken up as Reserve Bank of Australia Governor is giving his remarks at 9:10 AM in a Reserve Bank Board Dinner, which will be held in Brisbane. A couple of news reports regarding US economy are out next at 2 PM GMT, including Factory Orders for July. Orders bounced back strongly in June, wiping out May’s contraction of point 3%. IBD TIPP Economic Optimism for September is the second report out at this time. Optimism improved in August and index edged up by 2 points. Ozzy Dollar traders will be monitoring closely Australian second quarter GDP report at 1:30 AM. Year’s opening quarter brought an expansion of point 3%, beating the analyst estimates for a point 2% growth.
Thisarticlewas originally posted on FX Empire
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• Save Haven Assets Rally Following Hydrogen Bomb Detonation by North Korea || Backers withdraw two proposals to list U.S. bitcoin funds: By Trevor Hunnicutt
(Reuters) - An effort to allow investors to trade digital currencies as easily as stocks stumbled when backers withdrew two proposals to list bitcoin funds.
Intercontinental Exchange Inc's (ICE.N) NYSE Arca exchange on Wednesday withdrew an application with the U.S. Securities and Exchange Commission (SEC) to list Grayscale Investments LLC's Bitcoin Investment Trust (GBTC.PK).
Also on Wednesday, Van Eck Associates Corp pulled a registration document for a bitcoin fund after saying the SEC told them they would not review the filing until futures contracts on the digital currency start trading.
"Although digital currency market regulation continues to rapidly evolve, at this time Grayscale does not believe there have been enough regulatory developments to prompt the SEC to approve the ... application," Grayscale said in a statement. They said they would continue their dialogue with regulators.
The Bitcoin Investment Trust is currently traded "over the counter" in less formal exchanges than those used for typical stocks and at far higher prices than the bitcoin it holds.
Shares traded down 3.2 percent to $715.50 on Thursday, far higher than the issuer's appraisal that its bitcoin assets are worth $386.60 per share.
GBTC shares gained nearly 500 percent this year, more even than the 332 percent rise of bitcoin (BTC=BTSP) to more than $4,100.
The currency's meteoric rise prompted JPMorgan Chase & Co (JPM.N) CEO Jamie Dimon this month to call bitcoin "a fraud" that will blow up.
Bitcoin can be used to move money with relative anonymity, and without the need for a central authority, such as a bank or government.
SEC approval could bring more investors to the asset, yet the regulatory agency has expressed doubts over the bitcoin market being unregulated. The SEC declined to comment. NYSE could not be reached.
In March, the SEC blocked two potential bitcoin products, including one backed by Cameron and Tyler Winklevoss, twin investors best known for feuding with Facebook Inc (FB.O) founder Mark Zuckerberg. CBOE Holdings Inc's (CBOE.O) Bats exchange, which wanted to host that exchange-traded fund, appealed the ruling.
A proposal to list a product based on ether, another digital currency, was pulled earlier this month.
Bitcoin-tracking products already trade in Europe and one is being considered in Canada.
Regulators have not weighed in on two other efforts to bring a digital currency to U.S. exchanges, including a proposal filed on Wednesday by ProShare Capital Management LLC for a fund that would short bitcoin futures, betting their prices will fall.
(Reporting by Trevor Hunnicutt in New York; Additional reporting by Kanishka Singh in Bengaluru; editing by Alexander Smith and Lisa Shumaker) || Bitcoin boom: Cryptocurrency marks new record above $4K, boosted by Japan and safe-haven buying: The digital currency bitcoin vaulted to a new record high above $4000 on Saturday, boosted by strong Japanese demand on its way to multiplying its value fourfold this year. Bitcoin hit an all-time high of$4,225.40 early Sunday before slightly paring those gains to trade near $4,000, according toCoinDesk. The digital currency has now quadrupled in 2017, and is up about 40 percent in August alone. Bitcoin's market value is now around $64 billion, up about $10 billion in the last week. Bitcoin trade in Japanese yen accounted for nearly 46 percent of global trade volume, up from about a third a day ago, according to CryptoCompare. US-dollar bitcoin trade accounted for about 25 percent, according to CryptoCompare. Bitcoin trade in Chinese yuan and South Korean won accounted for about 12 percent each. The surge picked up speed in the last week, mirroring gold's climb amid a global selloff in stocks and bonds . Rising worries about North Korea's nuclear threat have sent investors flocking to perceived safe-havens and alternative assets. "Bitcoin is benefitting from geopolitical tensions - trading in Japan and Korea has increased significantly over the last few months," Brian Kelly, a CNBC contributor and head of BKCM, which runs an digital asset strategy, said in an email. He also attributed price gains to investors buying back bitcoin after the Aug. 1 split and greater attention from the Russian government. Analysts have also noted increased investor interest, especially from institutional investors, after bitcoin successfully survived an Aug. 1 split into bitcoin and bitcoin cash. This week, Fidelity launched a feature allowing customers to also view their Coinbase bitcoin holdings. The currency also got a boost from Goldman Sachs, which in a report released this week said it is harder for institutional investors to ignore cryptocurrencies like bitcoin. That said, bitcoin's future is still uncertain. The digital currency could potentially split again in November, when the second phase of an upgrade proposal called Segregated Witness is implemented. Story continues Chris Burniske, author of the upcoming book, "Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond," also noted a sharp pullback in price would not be surprising, given bitcoin's rapid surge. He noted on Twitter that upticks in the bitcoin price and Google searches have historically led to price corrections. Burniske tweet Bitcoin's offshoot, bitcoin cash, traded little changed near $323, according to CoinMarketCap. Another digital currency, ethereum, traded nearly 5 percent higher near $315. WATCH: Here's what sets Ethereum apart from its rival Bitcoin More From CNBC Snap shares bounce more than 7% even though some high-profile investors are bailing Early movers: TSLA, PG, FCAU, VFC, BLK & more Dow soars 150 points as Wall Street sees North Korea tensions easing
[Random Sample of Social Media Buzz (last 60 days)]
Курс биткоина побил новый рекорд, Bitcoin Cash снизил свои позиции http://eer.ru/a/article/u123259/2017/08/13/62155 … || LIVE: Profit = $877.36 (20.66 %). BUY B1.52 @ $3,200.00 (#VirCurex). SELL @ $3,390.57 (#Kraken) #bitcoin #btc - http://www.projectcoin.org || $4346.06 at 01:30 UTC [24h Range: $4232.43 - $4360.00 Volume: 6356 BTC] || $2,800.00 Antminer. R4 bitmain 8.0 TH/S WITH APW5 1300W SUPPLY Buy it now #Bitcoin #Mining http://bit.ly/2ymHhUO pic.twitter.com/18k989yNRq || PINK/BTC 4 Month Low - Pinkcoin (PINK) price reaches 4 Month Low on Poloniex - $PINK $BTC #pinkcoin #investing #news || Sep 09, 2017 13:00:00 UTC | 4,332.90$ | 3,599.70€ | 3,282.70£ | #Bitcoin #btc pic.twitter.com/6ghyROKwFk || ✺ Microsoft and Intel want Bitcoin tech in your workplace https://goo.gl/fb/tPLfr4 || Compre o Bitcoin mais barato do Brasil na Bitcointoyou, por R$15,487.00. Está R$680.97 mais barato que na concorrência (4.4%). || Cotizaciones al 29/08/2017 06:00 PM
Bitcoin (BTC): 25.851.890
Ethereum (ETH): 2.094.078
Litecoin (LTC): 350.160
BTC Cash (BCH): 2.983.213 || Micro Earnings • Up to 700 satoshi Every 5 min+Many more ways(Easiest Captcha)+PROOF! https://forum.bitcoin.com/viewtopic.php?t=47285&p=89670#p89670 … #bitcoin
|
Trend: up || Prices: 4317.48, 4229.36, 4328.41, 4370.81, 4426.89, 4610.48, 4772.02, 4781.99, 4826.48, 5446.91
|
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 2020-09-11]
BTC Price: 10400.92, BTC RSI: 40.91
Gold Price: 1937.80, Gold RSI: 50.21
Oil Price: 37.33, Oil RSI: 31.40
[Random Sample of News (last 60 days)]
Bitcoin in Cuba: A Local YouTube Influencer Explains How It Works: Its hard to participate in the influencer economy from Cuba, but YouTuber Erich García Cruz is making it work. We do not have access to Visa cards or Mastercard products because of the [U.S. trade] embargo, Cruz explained. We are monetized through YouTube. Bitcoin is one of many tools he uses to turn those dollar earnings, in foreign bank accounts, into rent and grocery money in Cuba. Most of the freelancers around the world using bitcoin as borderless money appear to be programmers or other types of technical workers. However, Cruz is among the slowly growing number of content creators relying on bitcoin as well. Related: Market Wrap: Bitcoin Dips to $11.6K, ETH Options Predict Price Below $400 by End of Year Cruz monetized his tech-centric YouTube channel back in November 2019 and started working with bitcoin around July 2020, inspired by tales from local friends. Its harder to move around and do business outside these days , in Cuba as it is everywhere. Meanwhile, Cruz said more people in the local tech community are learning about bitcoin. Thousands of Cubans buy cards at Bitrefill to consume those digital services by paying with cryptocurrencies. There is no other way, Cruz said. Bitcoin in Cuba Its impossible to say definitively how many people in Cuba use bitcoin. Brazil-based Cuban expat Claudia Rodriguez said her exchange served nearly 7,000 Cuban user accounts by November 2019. As of August 2020, she said, the exchanges operations there stopped for legal reasons, including a lack of regulatory clarity from the Central Bank of Cuba. Read more: Cuba Eyes Cryptocurrency as Solution to Sanctions, Financial Woes Related: Blockchain Bites: Bitcoin's Weary Bulls, ETC's Action Plan, INX's IPO Due to the economic crisis caused by the pandemic and the new restrictions in Cuba, cryptocurrencies can be an efficient solution, Rodriguez said. It is a shame that we cannot continue to support the community at this time. Story continues Regardless, Cruz estimated there are now roughly 50,000 Cuban bitcoin users in this socialist nation of roughly 11.3 million people. He, like many Cubans sanctioned by the U.S. , doesnt acquire bitcoin through exchanges. Instead, Cruz earns his money abroad, with the help of a relative. The relative may send Cruz bitcoin as remittances or other forms of money as well. The money earned in Cuba is exchanged in the informal market to later buy [goods] in state-run or private stores, Cruz said. There [are] Cubans even making money with [both crypto and fiat ] trading. Influencer economy Cruz said his reliance on bitcoin swiftly went from 10% of his earnings to now a third of his household income. Looking for products and services to manage his newfound crypto showed him theres an opportunity for his YouTube channel to monetize Spanish-language crypto content. Read more: Bitcoin in Emerging Markets: Latin America I realized that all these [crypto] platforms are simply pyramid schemes and scams that take advantage of ignorance, Cruz said. That is why I considered addressing those issues on [my] Bachecubano channel, to offer our correct point of view on how to use them. Cruz is now one of a small and widely dispersed group of Latin American influencers who use bitcoin as a tool for their daily work. Read more: Crypto Instagram Is Becoming a Thing, Scams and All Fabiano Dias, vice president of business development at the startup Bitwage, said a couple of Latin American YouTubers now use bitcoin as an international payments tool. We also serve YouTube streamers, which are few in numbers but large in volumes. Its up to $20,000 a month for some of them, Dias said, adding they are a minority among hundreds of monthly users from the tech industry. Overall, Dias said Bitwage facilitated $2 million worth of transactions in July 2020, including work with companies like Paxful, half of which was in bitcoin. Dozens of YouTubers rely on Bitwage for fiat money management, especially in Argentina and Brazil. A couple of them use it for acquiring bitcoin as well. As for Cruz in Cuba, he described the local crypto scene as growing and gaining strength throughout 2020. Its a solution, he said. A pretty effective solution. Related Stories Bitcoin in Cuba: A Local YouTube Influencer Explains How It Works Bitcoin in Cuba: A Local YouTube Influencer Explains How It Works || The Crypto Daily – Movers and Shakers – August 8th, 2020: Bitcoin, BTC to USD, fell by 1.52% on Friday. Reversing a 0.20% gain from Thursday, Bitcoin ended the day at $11,580.0.
It was a mixed start to the day. Bitcoin rose to an early morning intraday high $11,900 before hitting reverse.
Falling short of the first major resistance level at $11,914, Bitcoin slid to a late afternoon intraday low $11,326.
Bitcoin fell through the first major support level at $11,581 and the second major support level at $11,402.
Finding late support, however, Bitcoin broke back through the second major support level to end the day at $11,580.
The first major support level at $11,581 pinned Bitcoin back late in the day.
The near-term bullish trend remained intact, supported by the latest move through to $11,000 levels. 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 bearish day for the majors on Friday.
Bitcoin Cash SV (-4.48%), Cardano’s ADA (-3.93%), Ethereum (-3.93%), Litecoin (-3.10%), Stellar’s Lumen (-3.44%), and Tezos (-4.53%) led the way down.
Binance Coin (-1.85%), Bitcoin Cash ABC (-2.15%), EOS (-2.54%), Monero’s XMR (-1.10%), Ripple’s XRP (-2.87%), and Tron’s TRX (-1.83%) saw relatively modest losses on the day.
In the current week, the crypto total market cap rose from a Monday low $323.88bn to a Thursday high $355.09bn. At the time of writing, the total market cap stood at $342.33bn.
Bitcoin’s dominance fell from a Monday high 62.46% to a Tuesday low 61.24%. At the time of writing, Bitcoin’s dominance stood at 62.69%.
At the time of writing, Bitcoin was up by 0.17% to $11,599.6. A mixed start to the day saw Bitcoin fall to an early morning low $11,523.0 before rising to a high $11,608.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Binance Coin (-1.02%), Cardano’s ADA (-0.09%), EOS (-0.38%), Monero’s XMR (-0.80%), Stellar’s Lumen (-0.02%), Tezos (-0.74%), and Tron’s TRX (-0.90%) saw red.
It was a bullish start for the rest of the majors, however.
Bitcoin Cash ABC was up by 0.22% to lead the way.
Bitcoin would need to move through the $11,600 pivot to support a run at the first major resistance level at $11,878.
Support from the broader market would be needed, however, for Bitcoin to break back through to $11,800 levels.
Barring an extended crypto rally, the first major resistance level and Friday’s high $11,900 would likely cap any upside.
In the event of a crypto breakout, Bitcoin could eye the second major resistance level at $12,176.
Failure to move through the $11,600 pivot level would bring the first major support level at $11,304 into play.
Barring another extended crypto sell-off, however, Bitcoin should steer clear of sub-$11,000 levels. The second major support level at $11,028 should limit any downside.
Thisarticlewas originally posted on FX Empire
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• Natural Gas Price Prediction – Prices Rise Forming Bull Flag Pattern || Coinbase explores adding 19 more digital currencies: San Francisco-based exchange Coinbase is exploring the addition of 19 more tokens and coins as it aims to tap into the rising popularity of Decentralised Finance (DeFi). According to an official announcement , Coinbase is examining whether 19 projects comply with its listing policy before adding buy and sell functionality on its app. The potentially gung-ho approach to listing more cryptocurrencies is a stark contrast to in 2017 when the Coinbase app just offered, Bitcoin, Ethereum, Litecoin and Bitcoin Cash. The announcement read: “Today we’re announcing that we are exploring the addition of a range of new assets. As part of the exploratory process customers may see public-facing APIs and other signs that we are conducting engineering work to potentially support these assets. Coinbase is exploring the addition of 19 new digital assets, some are live, some are not. We will evaluate each against our Digital Asset Framework. It’s our goal to offer support for all assets that meet our standards and are compliant with local law. https://t.co/YY9pbMci66 — Coinbase (@coinbase) July 31, 2020 “These new assets include, in alphabetical order: Ampleforth, Band Protocol, Balancer, Blockstack, Curve, Fetch.ai, Flexacoin, Helium, Hedera Hashgraph, Kava, Melon, Ocean Protocol, Paxos Gold, Reserve Rights, tBTC, The Graph, THETA, UMA, and WBTC.” New assets will be listed on a country-by-country basis depending on regulatory oversight in each particular jurisdiction. Coinbase made a similar announcement in late 2018 as it revealed it was adding a plethora of new tokens including Cardano, Tezos and XRP. For more news, guides and cryptocurrency analysis, click here . || Bitcoin Crosses $11,400 Mark, Beats Major Indexes In July Gains: Bitcoin on Friday crossed the $11,460 mark, its highest July peak in eight years. The cryptocurrency gained about 23% in July.
What To Know: Analysts said the spike could be an outcome from the directive of U.S. officials that allowed all nationally chartered banks to open and maintain crypto wallets for their customers.
“There’s definitely a more bullish sentiment since that announcement came out and as we’ve all seen, has resulted in an upward movement,” Michael Rabkin, head of institutional sales at DV Chain,told Coin Desk.
A positive news cycle on the crypto market is boosting the market, he said.
According to various sources and DeFi Pulse, funds on Defi Platforms stands at over$4 billion.
See Also: The Top 10 DeFi Projects To Watch In The Second Half Of 2020
Why It's Important: Rough second-quarter GDP results and surplus money printing by the Federal Reserve coupled with a rising debt scenario left investors frowning. In order to avoid the backlash of anticipated inflation, gold has become a popular investment in 2020, along with bitcoins.
With stocks taking a beating on Friday, with global indexes down or flat, it's a crucial time for bitcoin.
What's Next: Some analysts believe the latest peak could just be the start of a bull phase for bitcoin. Bitcoin has successfully beaten major equity indexes for July.
Related Link: Is Cryptocurrency Here to Stay This Time?
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© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitx Executives Andy Pau Makes New Bitcoin Prediction Which Is Already Coming True: HONG KONG,CHINA / ACCESSWIRE / July 22, 2020 /Bitx Executives Andy Pau gave his prediction of Bitcoin in 2020, predicting a market crash. Andy Pau stated that Bitcoin would not be able to remain as high, and that it will follow other markets, which has already happened an hour ago when the coin crashed to $6,000. Andy Pau then predicted that BTC will surge back to $10k, and eventually $20k towards the end of the year.
Bitx Executives, Andy Pau, recently announced his new prediction regarding the future of Bitcoin price. His post, called "A look into my trader brain during this time of intensemarket volatility," gives a view of Bitcoin, as well as of global markets.
Andy Pau noted that the declaration of the global pandemic by the World Health Organization (WHO) and the return of macroeconomic volatility, have had a negative impact on the Bitcoin price. Even so, Bitcoin managed to outperform most otherindexesin 2020 so far, he says.
However, he also stated that he expects BTC to be dragged down as well, alongside global markets, although not as far as many others have predicted. He expects that the coin is likely to drop somewhere between $6,000 and $7,000, although he doesn't believe that the situation will be so dire as to see BTC sink back down to $3,000.
Bitcoin will surge to $20k by the end of the year, claims Bitx Executives
The reason for this, according to Andy Pau, is thatcrypto hedge fundsare likely to dump their coins into a falling market, which would push the price lower on the margin. At some point, he also predicted that central banks will "cut rates to zero" and proceed to announce open ended quantitive easing.
When this happens, Andy Pau believes that BTC will surge back up, initially to $10k, and then to $20k as the year approaches its end. It will be a gradual process, according to him, but it will still happen, which is why he recommends buying BTC and stocking up on altcoins, as well.
So far, his predictions came true, as Bitcoin has just crashed to $5,900, then recovered by growing back to $6,700, only to drop again to thecurrent $6,000. Whether it will stabilize here or continue to rise and drop still remains uncertain. However, the coin - as well as most other altcoins - has seen massive drops, often above 20% or even 30%. The question now is whether or not investors should trust someone who benefits from his users' financial loss, While his predictions of BTC crashing did come true, the rest is still in the air and remains to be seen.
Media contact
Company: Bitx technology limited
Contact: Andy Pau
Email:contact@bitx.net
Tele: 00852 67304930
Website:https://www.bitx.net/
SOURCE:Bitx technology limited
View source version on accesswire.com:https://www.accesswire.com/598431/Bitx-Executives-Andy-Pau-Makes-New-Bitcoin-Prediction-Which-Is-Already-Coming-True || Canaan Inc. Reports Unaudited Second Quarter 2020 Financial Results: HANGZHOU, China, Aug. 31, 2020 (GLOBE NEWSWIRE) -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced its unaudited financial results for the three months ended June 30, 2020. Second Quarter 2020 Operating and Financial Highlights Total computing power sold was 2.6 million Thash/s, representing a year-over-year decrease of 18.2% from 3.2 million Thash/s in the same period of 2019 and a quarter-over-quarter increase of 198.5% from 0.9 million Thash/s in the first quarter of 2020. Total net revenues decreased by 26.3% year over year and increased by 160.9% quarter over quarter to RMB178.1 million (US$25.2 million) from RMB241.5 million in the same period of 2019 and RMB68.3 million in the first quarter of 2020. Gross profit increased by 302.5% year over year and 1,711.5% quarter over quarter to RMB43.3 million (US$6.1 million) from RMB10.8 million in the same period of 2019 and RMB2.4 million in the first quarter of 2020. Gross margin expanded significantly to 24.3% from 4.5% in the same period of 2019 and 3.5% in the first quarter of 2020. Net loss narrowed to RMB16.8 million (US$2.4 million) from RMB263.1 million in the same period of 2019 and RMB39.9 million in the first quarter of 2020. Non-GAAP adjusted net loss was RMB16.0 million (US$2.3 million) compared to RMB46.0 million in the same period of 2019 and RMB38.2 million in the first quarter of 2020. “Mr. Nangeng Zhang, Chairman and Chief Executive Officer of Canaan, commented, “During the second quarter of 2020, the COVID-19 pandemic continued to impact the lives of people around the world and the Bitcoin halving event also caused significant volatility in Bitcoin prices. Nevertheless, we remained focused on strengthening our research and development capabilities, refining our product offerings, and executing our AI initiatives. These efforts enabled us to achieve meaningful financial and operational improvements on a sequential basis the second quarter as well as helped to ensure that our products could maintain their positions at the cutting edge of technological innovation. Going forward, we are confident that our strong pipeline of next-generation products will continue to sustain our growth momentum in the future.” Story continues Mr. Quanfu Hong, Chief Financial Officer of Canaan, stated, “Despite the challenges we experienced during the second quarter of 2020, we delivered another quarter of solid financial results. Our total net revenues increased by 160.9% quarter over quarter to RMB178.1 million during the period, driven by a 198.5% sequential increase in our total computing power sold during the second quarter. Looking ahead, we will continue to invest in those areas that can strengthen our product offerings, streamline our operations, and solidify our market leadership. Although the current macroeconomic uncertainties make forecasting difficult, we are confident in the underlying strength of our fundamentals and optimistic about the long-term growth prospects of our business.” Second Quarter 2020 Financial Results Total net revenues in the second quarter of 2020 were RMB178.1 million (US$25.2 million) representing a 26.3% year-over-year decrease from RMB241.5 million in the same period of 2019 and a 160.9% quarter-over-quarter increase from RMB68.3 million in the first quarter of 2020. The year-over-year decrease and quarter-over-quarter increase in total net revenues were mainly in line with the changes in total computing power sold. Cost of revenues in the second quarter of 2020 was RMB134.8 million (US$19.1 million) compared to RMB230.8 million in the same period of 2019 and RMB65.9 million in the first quarter of 2020. The year-over-year decrease and quarter-over-quarter increase in cost of revenues were in line with the changes in the Company’s sales volume of Thash and cost per Thash. Gross profit in the second quarter of 2020 increased by 302.5% year over year and 1,711.5% quarter over quarter to RMB43.3 million (US$6.1 million) from RMB10.8 million in the same period of 2019 and RMB2.4 million in the first quarter of 2020. Gross margin in the second quarter of 2020 expanded to 24.3% from 4.5% in the same period of 2019 and 3.5% in the first quarter of 2020. Total operating expenses in the second quarter of 2020 were RMB62.2 million (US$8.8 million) compared to RMB279.7 million in the same period of 2019 and RMB73.5 million in the first quarter of 2020. Research and development expenses in the second quarter of 2020 were RMB26.1 million (US$3.7 million) compared to RMB35.9 million in the same period of 2019 and RMB41.8 million in the first quarter of 2020. The reductions in research and development expenses were mainly due to the decreases in materials used for research and development purposes in the same period of 2019 and the second quarter of 2020. As a percentage of total net revenues, research and development expenses in the second quarter of 2020 was 14.6% compared to 14.9% in the same period of 2019 and 61.2% in the first quarter of 2020. Selling and marketing expenses in the second quarter of 2020 were RMB6.5 million (US$0.9 million) compared to RMB5.6 million in the same period of 2019 and RMB4.1 million in the first quarter of 2020, both increases were mainly driven by the increased salaries of the staff in the Company’s sales and marketing departments. As a percentage of total net revenues, sales and marketing expenses in the second quarter of 2020 were 3.7% compared to 2.3% in the same period of 2019 and 6.1% in the first quarter of 2020. General and administrative expenses in the second quarter of 2020 were RMB29.6 million (US$4.2 million) compared to RMB238.1 million in the same period of 2019 and RMB27.6 million in the first quarter of 2020. In the second quarter of 2019, the share-based compensation allocated to general and administrative expenses in the amount of RMB213.1 million was due to the excess of appraised fair value over the transfer price of ordinary shares transferred from the existing shareholders to other existing shareholders who were also the employees. Compared with the first quarter of 2020, the slight increase was mainly due to the increase of salary, the professional service charges and other daily administrative expenses. Loss from operations in the second quarter of 2020 was RMB18.9 million (US$2.7 million) compared to RMB268.9 million in the same period of 2019 and RMB71.1 million in the first quarter of 2020. Net loss attributable to ordinary shareholders in the second quarter of 2020 was RMB16.8 million (US$2.4 million) compared to RMB263.1 million in the same period of 2019 and RMB39.9 million in the first quarter of 2020. Non-GAAP adjusted net loss in the second quarter of 2020 was RMB16.0 million (US$2.3 million) compared to RMB46.0 million in the same period of 2019 and RMB38.2 million in the first quarter of 2020. Non-GAAP adjusted net loss excludes share-based compensation expense. For further information, please refer to "Use of Non-GAAP Financial Measures" in this release. Basic and diluted net loss per ADS in the second quarter of 2020 were both RMB0.11 (US$0.02) compared to RMB1.88 in the same period of 2019 and RMB0.25 in the first quarter of 2020. Each ADS represents 15 of the Company's Class A ordinary shares. As of June 30, 2020, the Company had cash and cash equivalents of RMB157.0 million (US$22.2 million) compared to RMB516.6 million as of December 31, 2019. The decrease was mainly due to higher short-term investments as the Company had invested RMB347.6 million (US$49.2 million) in short-term investments as of June 30, 2020, compared with RMB11.0 million in short-term investments as of December 31, 2019. The company purchased short-term financial products to receive higher returns but at the same time can withdraw at any time. Business Outlook Due to the continued uncertainty from the rapidly changing global environment related to the COVID-19 pandemic and corresponding economic downturn, the Company will not issue any financial guidance in the near term. Conference Call Information The Company’s management team will hold a Direct Event conference call on Monday, August 31, 2020, at 8:00 A.M. Eastern Time (or 8:00 P.M. Beijing Time on the same day) to discuss the financial results. Details for the conference call are as follows: Event Title: Canaan Inc. Second Quarter 2020 Earnings Conference Call Registration Link: http://apac.directeventreg.com/registration/event/3977618 All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registering, each participant will receive a set of participant dial-in numbers, the Direct Event passcode, and a unique access PIN, which can be used to join the conference call. A replay of the conference call will be accessible through September 8, 2020, by dialing the following numbers: International: +61-2-8199-0299 United States: +1-646-254-3697 Hong Kong, China: +852-3051-2780 Replay PIN: 3977618 A live and archived webcast of the conference call will also be available at the Company’s investor relations website at investor.canaan-creative.com. About Canaan Inc. Established in 2013, Canaan Inc. provides high-performance computing solutions to efficiently solve complex problems. In 2016, Canaan successfully initiated the production of its first 16nm chip and passed the test to receive China's national high-tech enterprise certification. In 2018, Canaan achieved major technological breakthroughs to launch the K210, the world's first-ever RISC-V-based edge artificial intelligence (AI) chip, which is now widely used for access control in situations such as smart door locks and more. Canaan Inc. is currently focused on the research and development of advanced technology, including such areas as AI chips, AI algorithms, AI architectures, system on a chip (SoC) integration and chip integration. Using the AI chip as its base, Canaan Inc. has established an intellectual value chain. Canaan Inc. also provides a suite of AI service solutions and is able to tailor these solutions to the needs of its partners. For more information, please visit: investor.canaan-creative.com. Exchange Rate Information This announcement contains translations of certain RMB amounts into U.S. dollars ("US$") at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB7.0651 to US$1.00, the noon buying rate in effect on June 30, 2020, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all. Safe Harbor Statement This announcement contains forward−looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward−looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Canaan Inc.’s strategic and operational plans, contain forward−looking statements. Canaan Inc. may also make written or oral forward−looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20−F and 6−K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Canaan Inc.’s beliefs and expectations, are forward−looking statements. Forward−looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward−looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition and results of operations; the expected growth of the Bitcoin industry and the price of Bitcoin; the Company’s expectations regarding demand for and market acceptance of its products, especially its Bitcoin mining machines; the Company’s expectations regarding maintaining and strengthening its relationships with production partners and customers; the Company’s investment plans and strategies, fluctuations in the Company’s quarterly operating results; competition in its industry in China; and relevant government policies and regulations relating to the Company and cryptocurrency. Further information regarding these and other risks is included in the Company’s filings with the SEC, including its registration statement on Form F−1, as amended, and its annual reports on Form 20−F. All information provided in this press release and in the attachments is as of the date of this press release, and Canaan Inc. does not undertake any obligation to update any forward−looking statement, except as required under applicable law. Use of NonGAAP Financial Measures In evaluating Canaan’s business, the Company considers and uses adjusted net income as a supplemental measure to review and assess its operating performance. The presentation of this non-GAAP financial measure is not intended to be considered in isolation or as a substitute for financial information prepared and presented in accordance with U.S. GAAP. The Company defines adjusted net loss as net loss excluding sharebased compensation expense. Canaan believes that adjusted net income helps to identify underlying trends in the Company’s business that could otherwise be distorted by the effect of the expenses that the Company excludes in adjusted net income. The Company believes that adjusted net income provides useful information about our operating results, enhances the overall understanding of Canaan’s past performance and future prospects and allows for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision-making. The non-GAAP financial measure “adjusted net loss” is not defined under U.S. GAAP, is not presented in accordance with U.S. GAAP and has limitations as an analytical tool. One of the key limitations of using adjusted net loss is that it does not reflect all of the items of income and expense that affect the Company’s operations. Share-based compensation has been and may continue to be incurred in Canaan’s business and is not reflected in the presentation of adjusted net loss. Further, the non-GAAP financial measure “adjusted net loss” may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited. Investor Relations Contact Canaan Inc. Mr. Shaoke Li Email: IR@canaan-creative.com ICR Inc. Jack Wang Tel: +1 (347) 396-3281 Email: canaan.ir@icrinc.com CANAAN INC. UNAUDITED CONSOLIDATED BALANCE SHEETS (all amounts in thousands of RMB, except share and per share data, or as otherwise noted) As of December 31, As of June 30, 2019 2020 2020 RMB RMB US$ ASSETS Current assets: Cash and cash equivalents 516,607 157,022 22,225 Restricted cash 8,239 5,098 722 Short-term investments 11,005 347,559 49,194 Accounts receivable 2,872 10,160 1,438 Inventories 196,067 88,115 12,472 Prepayments and other current assets 206,020 175,347 24,819 Total current assets 940,810 783,301 110,870 Non-current assets: Property, equipment and software 22,602 17,330 2,453 Operating lease assets — 88,287 12,496 Right-of-use assets, net 22,764 17,706 2,506 Other non-current assets 5,250 2,230 316 Total non-current assets 50,616 125,553 17,771 Total assets 991,426 908,854 128,641 LIABILITIES, AND SHAREHOLDERS ’ EQUITY Current liabilities Short-term debts 99,903 181,093 25,632 Accounts payable 99,050 16,158 2,287 Notes payable 27,462 14,912 2,111 Contract liabilities 8,288 1,078 153 Accrued liabilities and other current liabilities 40,691 24,139 3,417 Lease liabilities, current 9,838 9,128 1,292 Total current liabilities 285,232 246,508 34,892 Non-current liabilities: Lease liabilities, non-current 13,399 7,580 1,073 Other non-current liabilities — 9,826 1,391 Total non-current liabilities 13,399 17,406 2,464 Total liabilities 298,631 263,914 37,356 Shareholders ’ equity: Ordinary shares (US$0.00000005 par value; 1,000,000,000,000 shares authorized, 2,372,222,222 shares issued, 2,350,123,270 shares outstanding as of December 31, 2019 and June 30, 2020, respectively) 1 1 — Subscriptions receivable from shareholders (1 ) (1 ) — Treasury stocks (US$0.00000005 par value; 22,098,952 shares as of December 31, 2019 and June 30, 2020, respectively) — — — Additional paid-in capital 1,631,609 1,634,083 231,289 Statutory reserves 97,307 97,307 13,773 Accumulated other comprehensive loss (55,542 ) (49,140 ) (6,955 ) Accumulated deficit (980,579 ) (1,037,310 ) (146,822 ) Total shareholders ’ equity 692,795 644,940 91,285 Total liabilities and shareholders ’ equity 991,426 908,854 128,641 CANAAN INC. UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (all amounts in thousands of RMB, except share and per share data, or as otherwise noted) For the Three Months Ended June 30, 2019 March 31, 2020 June 30, 2020 June 30, 2020 RMB RMB RMB US$ Net revenues Products revenue 240,401 67,032 162,925 23,061 Leases revenue — 994 15,109 2,139 Services revenue 370 24 57 8 Other revenue 775 223 35 5 Total net revenue 241,546 68,273 178,126 25,213 Cost of revenue (230,793 ) (65,885 ) (134,849 ) (19,087 ) Gross profit 10,753 2,388 43,277 6,126 Operating expense Research and development expenses (35,912 ) (41,794 ) (26,073 ) (3,690 ) Selling and marketing expenses (5,615 ) (4,132 ) (6,520 ) (923 ) General and administrative expenses (238,131 ) (27,589 ) (29,587 ) (4,188 ) Total operating expenses (279,658 ) (73,515 ) (62,180 ) (8,801 ) Loss from operations (268,905 ) (71,127 ) (18,903 ) (2,675 ) Interest income 442 1,824 873 124 Investment income 1,120 1,063 1,923 272 Interest expense (3,482 ) (1,185 ) (1,519 ) (215 ) Foreign exchange (loss) gain 4,515 240 80 11 Value added tax refunds 348 — — — Others, net 2,897 29,239 831 118 Loss before income tax expenses (263,065 ) (39,946 ) (16,715 ) (2,365 ) Income tax expense — — (72 ) (10 ) Net loss (263,065 ) (39,946 ) (16,787 ) (2,375 ) Foreign currency translation adjustment, net of nil tax (2,547 ) 6,483 (81 ) (11 ) Total comprehensive loss (265,612 ) (33,463 ) (16,868 ) (2,386 ) Weighted average number of shares used in per share calculation: — Basic and diluted 2,100,081,511 2,350,123,270 2,350,123,270 2,350,123,270 Net loss per share (cent per share) — Basic and diluted (12.53 ) (1.70 ) (0.71 ) (0.10 ) Share-based compensation expenses were included in: Research and development expenses 2,404 1,120 132 19 Sales and marketing expenses 110 11 11 2 General and administrative expenses 214,557 600 600 85 The table below sets forth a reconciliation of net loss to non-GAAP adjusted net loss for the period indicated: For the Three Months Ended June 30, 2019 March 31, 2020 June 30, 2020 June 30, 2020 RMB RMB RMB US$ Net loss (263,065 ) (39,946 ) (16,787 ) (2,375 ) Add: Share-based compensation expense 217,071 1,731 743 106 Non-GAAP adjusted net loss (45,994 ) (38,215 ) (16,044 ) (2,269 ) || Bitmain, Ebang Among 21 Bitcoin Mining Farms Stripped of Energy Perks in Inner Mongolia: Over 20 bitcoin mining farms in China’s Inner Mongolia have been stripped of electricity perks after a clampdown by the local government.
A document issued by the Department of Industrial and Information Technology of the Inner Mongolia Autonomous Region on Aug. 24, obtained by CoinDesk, shows the government agency has required a local electricity trade company to disqualify 21bitcoinmining farms from participating in energy trading.
Chinese crypto news source Wu Blockchain firstreportedthe document, but did not provide the names of the farms on the list. Notable entities include two subsidiaries of bitcoin mining giant Bitmain in Inner Mongolia and another subsidiary of mining equipment manufacturer Ebang.
Related:Energy Giant Equinor to Cut Gas Flaring With Bitcoin Mining: Report
Also on the list is the Inner Mongolia Branch of China Telecom, based in the city of Ordos. That suggests the telecoms giant may also be involved in cryptocurrency mining activities in the region.
The suspension means these mining farms will no longer be able to enjoy electricity discounts that come from a liquid energy marketplace provided by the Inner Mongolia Power Group, a state-owned energy trading firm in the region.
Kevin Pan, CEO and co-founder of China-based mining pool PoolIn, said the policy will have some impact on the industry, at least in the short term. The electricity for these farms will likely rise by 0.1 yuan, or $0.014, per kilowatt-hour (kWh), he said.
The current electricity cost for mining farms in the region is around 0.26–0.28 yuan per kWh ($0.037 to $0.040). With the new policy change, the upper side of the range could reach as high as 0.38 yuan per kWh ($0.054), Pan said.
Related:Miners' Bitcoin Holdings Reach Two-Year High to Almost 2M
Such a seemingly negligible difference would, in fact, mean a significant increase of operational costs for energy-intensive crypto mining activities.
Read more:China’s Inner Mongolia to Shutter ‘Illegal’ Bitcoin Miners by October
If a mining farm is running at a full capacity of just 10,000 kWh, considered relatively small scale in the industry, an increase of $0.014 per kWh means the farm will incur an additional $3,360 in operational costs per day.
The document, addressed to Inner Mongolia Power Group, said the suspension notice came after the government agency conducted on-site inspections at over 30 big data and cloud computing companies in the region and discovered 21 of them are actually crypto mining farms.
The region-wide inspections started late last year, as CoinDesk reported at the time. The aim was to close down bitcoin mining operations that were without proper business registrations. They further targeted firms attempting to get electricity perks by disguising themselves as eligible entities.
According to theBitcoin Electricity Consumption Indexcompiled by the Cambridge University, China had over 65% of the global bitcoin mining computing power as of April this year. Inner Mongolia accounted for 8% of the network’s total at the time.
• Bitmain, Ebang Among 21 Bitcoin Mining Farms Stripped of Energy Perks in Inner Mongolia
• Bitmain, Ebang Among 21 Bitcoin Mining Farms Stripped of Energy Perks in Inner Mongolia || Digital asset manager Grayscale reports record inflows in second quarter of 2020: The multi-billion dollar digital asset manager Grayscale reported the largest quarterly inflows in its history, according to its quarterly report published Wednesday.
In the second quarter of 2020, Grayscale raised $905.8 million across its suite of digital asset products, nearly doubling its previous highfrom the first quarter of 2020($503.7 million). As previously reported, Grayscale offers a range of products that provide indirect exposure to digital assets like bitcoin. The second quarter's inflows brought Grayscale's 1H20 total investments to $1.4 billion, per the report.
"Cumulative investment across the Grayscale family of products since inception has reached $2.6 billion. Grayscale Bitcoin Trust and Grayscale Ethereum Trust both experienced record quarterly inflows of $751.1 million and $135.2 million, respectively," the company said in its report.
[caption id="attachment_71621" align="aligncenter" width="1208"]
Source: Grayscale[/caption]
New investors accounted for 14% of the inflows and represented 57% of the investor base. 84% of investments came from institutional investors that were primarily hedge funds.
[caption id="attachment_71622" align="aligncenter" width="1192"]
Source: Grayscale[/caption]
Grayscale also reported large interest in alternative cryptocurrencies, reporting that demand for its Ethereum Trust product accounted for nearly 15% of total inflows — an all-time high.
As of June 30, the firm had $4 billion in assets under management, per 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. || Silver Price Forecast – Silver Gapped Higher to Kick Off the Week: Silver marketsgapped higher to kick off the trading session on Monday, showing signs of strength again. Ultimately, this is a market that has been bullish for some time so I am not surprised at all to see that we might see some strength here. Short-term pullback should be buying opportunities, as silver has been so strong over the last several months. The fact that we are grinding sideways with a slightly upward twist suggest that we are going to continue to go higher. All things being equal, the $26 level underneath should be supported, just as the 50 day EMA is starting to reach towards the $25 level underneath there.
Looking at this chart, it is obvious that the $30 level above is a major resistance barrier, so it is very likely that we will see the market struggle to get above there. However, we do break above the $30 level it is likely that the market goes much, much higher. I think Federal Reserve monetary policy will continue to drive silver higher over the longer term, but we may have some choppiness to deal with in the short term. If we break down below the $24 level, that could suggest significant selling pressure, perhaps reaching down towards the 200 day EMA which is closer to the $20 level. With this, it is only a matter of time before buyers return in theory, so therefore I look at this as a potential “buy on the dips” type of scenario, just as it has been for some time.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
• Silver Price Daily Forecast – Silver Stays Near The 20 EMA
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• Silver Price Forecast – Silver Gapped Higher to Kick Off the Week
• Daily Gold News: Monday, September 7 – Gold Price Continues Sideways
• Weekly Recap: Bitcoin and Ethereum Incur Significant Losses
• Oil Loses Ground As Saudi Arabia Cuts Prices For Customers || EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 3rd, 2020: EOS slid by 10.93% on Sunday. Reversing a 6.71% gain from Saturday, EOS ended the week up by 8.23% to $2.9409.
It was a choppy start to the day. EOS rose to an early morning intraday high $3.4852 before hitting reverse.
EOS broke through the first major resistance level at $3.4029 before tumbling to an early morning intraday low $2.4884.
The sell-off saw EOS slide through the day’s major support levels before briefly revisiting $3.0 levels.
EOS moved back through the third major support level at $2.7121 and the second major support level at $2.9748.
It was a bearish 2ndhalf of the day, however. EOS fell back through the second major support level to end the day in the deep red.
At the time of writing, EOS was up by 0.75% to $2.9631. A mixed start to the day saw EOS fall to an early morning low $2.9022 before rising to a high $2.9631.
EOS left the major support and resistance levels untested early on.
EOS would need to move through the $2.9715 pivot level to support a run at the first major resistance level at $3.4546.
Support from the broader market would be needed, however, for EOS to break back through to $3.40 levels.
Barring another extended crypto rally, the first major resistance level would likely cap any upside.
Failure to move through the $2.9715 pivot would bring the first major support level at $2.4578 into play.
Barring an extended sell-off, EOS should steer well clear of the second major support level at $1.9747.
First Major Support Level: $2.4578
Pivot Level: $2.9715
First Major Resistance Level: $3.4546
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum fell by 3.92% on Sunday. Partially reversing an 11.69% rally from Saturday, Ethereum ended the week up by 19.52% to $371.21.
Tracking the broader market, Ethereum rallied to an early morning intraday high $415.00 before hitting reverse.
Ethereum broke through the first major resistance level at $406.35 before tumbling to an early morning intraday low $325.75.
The selloff saw Ethereum fall through the first major support level at $356.1 before finding support.
More significantly, Ethereum also fell through the 38.2% FIB of $367 before the partial recovery.
Ethereum moved back through to $389 levels before falling back to end the day at sub-$380.
At the time of writing, Ethereum was up by 1.00% to $375.93. A mixed start to the day saw Ethereum fall to an early morning low $366.34 before rising to a high $376.63.
While leaving the major support and resistance levels untested, Ethereum found support at the 38.2% FIB of $367 early on.
Ethereum would need to avoid a fall through the $371 pivot to support a run at the first major resistance level at $416.22.
Support from the broader market would be needed, however, for Ethereum to break out form Saturday’s high $415.00.
Barring an extended crypto rally, the first major resistance level should cap any upside.
A fall through the $371 pivot would bring the first major support level at $326.97 into play.
Barring another extended sell-off, however, Ethereum should steer well clear of the second major support level at $281.74.
First Major Support Level: $326.97
Pivot Level: $371
First Major Resistance Level: $416.22
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP fell by 1.25% on Sunday. Following a 12.06% rally on Saturday, Ripple’s XRP ended the week up by 33.50% to $0.28764.
A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.3262 before hitting reverse.
Ripple’s XRP broke through the first major resistance level at $0.3071 and the second major resistance level at $0.3233.
The reversal saw Ripple’s XRP slide through the first major support level at $0.2653 to an intraday low $0.24158.
Steering clear of sub-$0.24 support levels, Ripple’s XRP revisited $0.30 levels before falling back into the red.
In spite of the bearish day, Ripple’s XRP moved back through the first major support level to limit the loss.
At the time of writing, Ripple’s XRP was up by 2.95% to $0.29612. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.28383 before rising to a high $0.29661.
Ripple’s XRP left the major support and resistance levels untested early on.
Ripple’s XRP will need to avoid a fall through the $0.2851 pivot to support a run at the first major resistance level at $0.3287.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Saturday’s high $0.3262.
Barring another broad-based crypto rally, the first major resistance level should cap any upside.
In the event of a breakout, Ripple’s XRP could make a run at the second major resistance level at $0.0.3698.
Failure to avoid a fall through the $0.2851 pivot would bring the first major support level at $0.2441 into play.
Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.24 levels, however.
First Major Support Level: $0.24441
Pivot Level: $0.2851
First Major Resistance Level: $0.3287
23.6% FIB Retracement Level: $0.3638
38.2% FIB Retracement Level: $0.4800
62% FIB Retracement Level: $0.6678
Please let us know what you think in the comments below.
Thanks, Bob
Thisarticlewas originally posted on FX Empire
• Bitcoin and Ripple’s XRP Weekly Technical Analysis – August 3rd, 2020
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• The Crypto Daily – Movers and Shakers – August 2nd, 2020
• U.S Mortgage Rates Slipped Back to sub-3% as Economic Uncertainty Lingered
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: no change || Prices: 10442.17, 10323.76, 10680.84, 10796.95, 10974.91, 10948.99, 10944.59, 11094.35, 10938.27, 10462.26
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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)]
Winklevoss Twins Approach BATS Global Markets To List Bitcoin ETF: Cameron and Tyler Winklevoss are notable Bitcoin investors and run a family office called Winklevoss Capital Management, which invests in various asset classes. The twin brothers also own approximately 1 percent of all bitcoins in circulation through their family office.
According to aregularity filing,the brothers now want to oversee the creation of a bitcoin exchange-traded fund (ETF) on the BATS Global Markets stock market. Initially, an ETF was proposed to trade on the Nasdaq exchange.
The BATS exchange oversaw close to 25 percent of all ETF activities in May.
It's Been In The Works
The brothers proposed creating an ETF three years ago that tracks the performance of the digital currency, but are still waiting for approval by the Securities and Exchange Commission. If successful, the proposed ETF would be the first SEC-regulated and approved bitcoin investment vehicle.
The Winklevoss brothers will use another bitcoin-related property under its management, the Gemini Trust Co., as the ETF's custodian. Gemini received a trust charter from the New York State Department of Financial Services last October, and it will hold the actual bitcoins in trust.
Related Link:Self-Proclaimed Inventor Of Bitcoin Reportedly Seeks Hundreds Of Patents On Blockchain Technology
An ETF would trade under the ticker "COIN."
The Wall Street Journal quoted BATS' head of exchange-traded products Laura Morrison as saying, "We are excited to add the Winklevoss Bitcoin Trust."
The Washington Post reported in 2013 that the brothers began buying bitcoins when the dollar value of a single coin was in the single digits. As of Thursday morning, the value of a single bitcoin according to CoinDesk was $668.24.
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© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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, 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 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) || Your first trade for Friday, June 10: The "Fast Money" traders gave their final trades of the day.
Tim Seymour was a buyer of Atlantic Alliance Partnership Corporation (AAPC(NASDAQ: AAPC)).
Dan Nathan was a seller of the Financial Select Sector SPDR Fund (XLF(Mexico Stock Exchange: XLF-MX)).
Brian Kelly was a buyer of the iShares Silver ETF (SLV(NYSE Arca: SLV)).
Guy Adami was a buyer of Raytheon (RTN(NYSE: RTN)).
Trader disclosure: OnThursday, June 9the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders:
GUY ADAMIis long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
BRIAN KELLYis long 30 year bond Bitcoin, GLD, SLV, TLT, US Dollar UUP; he is short Copper, JJC, Yuan Short
DAN NATHAN is long PFE Long TWTR, GE long May 28 puts XHB long June put spread IWM long Sept 100 put XLB long June put spread XLF long May/ Sept Put spread HYG long June put spread XLK long Sept Put spread FXI long aug put spred SMH long aug put spread, KO june / aug put calendar, long UA call calendar, long PYPL call calendar, long TLT Sept risk reversal, XLV july calls, MSFT june/july put spread, long C sept puts.
TIM SEYMOURis long AAPL, AVP, BAC, BBRY, CLF, DO, EDC, EWZ, F, FCX, FXI, GM, GOOGL, GRMN, GE, GLNCY, INTC, LQD, M, MCD, MPEL, NKE, RACE, RAI, RH, RL, SINA, T, TWTR, UA, VALE, VZ, XOM. Tim's firm is long ABX, BABA, BIDU, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, YHOO, short HYG, IWM, WYNN, XRT
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• Personal Finance || 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) || Bitcoin "miners" face fight for survival as new supply halves: By Jemima Kelly KEFLAVIK, Iceland, July 8 (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. Story continues 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) View comments || The controversy over Satoshi Nakamoto’s true identity is jeopardizing Bitcoin’s future: A new kind of wallet. Earlier in May, Australian entrepreneur Craig Wright made headlines with the claim that he was in fact the mysterious creator of Bitcoin, known as “Satoshi Nakamoto.” While Wright has yet to offer concrete public evidence to back up his claim, some in the Bitcoin community have insisted that even if Wright is Nakamoto, it doesn’t matter . This is a classic engineer’s fallacy. I say this with love—I’m an engineer myself—but it exemplifies a blinkered worldview which is both wrong and dangerous. The identity of the Bitcoin creator matters because if he or she were to come forward, they might have a real shot at finally uniting a fractious community. At the very least, the creator could provide some clarity on a host of unresolved, fundamental questions that are damaging Bitcoin’s credibility with investors and potential users alike. 20 misused English words that make smart people look silly The network is not the project is not the network It is true that Satoshi’s true identity is irrelevant to the Bitcoin network. The network was (brilliantly) designed so that its transactions require no trust or central authority. This will remain true as long as no entity controls too much of the “mining” computational power—more than one quintillion computations per second—that secures Bitcoin’s revolutionary blockchain. More than the sum of its code, the Bitcoin project has been divided by bitter disagreements. (Blockchain, for the uninitiated, is a digital platform that verifies and creates a permanent record of online transactions.) Nakamoto is believed to control 7% of all extant bitcoin, worth roughly $450 million today. That’s enough to influence Bitcoin’s spot price, but not enough to control it. But the Bitcoin network is a living, changing thing, composed of constantly evolving software. More than the sum of its code, the ongoing Bitcoin project has been divided by very public, bitter disagreements. These have at best slowed progress, and at worst dragged Bitcoin into something like a civil war. Story continues Raghuram Rajan explains why corrupt politicians win elections in India How Bitcoin is governed Final decisions regarding what software runs on the Bitcoin network are made by Bitcoin’s miners. Armed with cheap electricity and custom hardware, miners secure the blockchain and are rewarded with newly minted bitcoin. But miners do not (currently) develop new Bitcoin software; they merely choose what to adopt. This can be a fraught process. If different miners run fundamentally incompatible versions of the Bitcoin software—a situation known as a “hard fork”—then the blockchain will split in two. In theory the chain supported by the most mining power will ultimately be triumphant, but the outcome could be quite costly for those who choose the wrong side or fail to upgrade quickly. Bitcoin software is open source. Anyone can copy it, build on it, or release their own version. (Most “ altcoins ,” such as Litecoin and Dogecoin, adapt the Bitcoin code.) But in practice, for seven years, Bitcoin software was built by a small, tight-knit group of engineers—including Satoshi Nakamoto, until 2010, when he/she/they retired and vanished—whose code was universally accepted by miners. Then came 2015 . A brief and civil war Last year, the increasing popularity of the Bitcoin network began to threaten its capacity limit of roughly 7 transactions per second, and Bitcoin’s engineers fragmented into factions. One group, now known as Bitcoin Classic, wanted to immediately promote a hard fork that would double the bandwidth of the Bitcoin network. Another faction, Bitcoin Core, believed that this was too risky, and promoted a different short-term solution to the looming capacity crisis. As it turned out, however, the scuffle over capacity was only a symptom of a larger debate. To oversimplify: Bitcoin Classic and its backers believe the Bitcoin network should quickly scale to handle the same volume of transactions as mainstream platforms like Visa, regardless of the consequences. Bitcoin Core believes that Bitcoin should remain maximally decentralized and trustless, while new, more scalable solutions are developed that can handle millions of transactions per second. These solutions would be separate networks that use Bitcoin only sporadically, to settle large numbers of small transactions all at once. As it turned out, however, the scuffle over capacity was only a symptom of a larger debate. The argument was vitriolic and often very personal. Accusations of conflict of interest were flung around on Reddit like confetti. Several Bitcoin Core members are cofounders of the startup Blockstream, which has raised more than $70 million in pursuit of its vision of Bitcoin’s future. The CEO of the equally well-funded startup Coinbase threw his weight behind the hard fork strategy espoused by the Bitcoin Classic factions. One well-known developer publicly abandoned the project entirely, claiming “it has failed because the community has failed.” In the end, the miners chose Bitcoin Core’s solution rather than risk a hard fork—at least for now. But it seems unlikely that the debate has entirely ended , and its consequences were decidedly negative. Venture capitalists and tech media who once trumpeted Bitcoin as the Next Big Thing now seem far more skeptical . Data from Y Combinator indicates that the incidence of Bitcoin-related startups has plummeted over the last year. In some ways, everybody lost. It cannot be measured, and yet it exists This will not be the last Bitcoin battle, or the last stain on its public image. But the public perception of Bitcoin would certainly take another hit if, for instance, Nakamoto is revealed as Wright, whose public behavior has been inconsistent and confusing. Public perception filters into industry perception, and the attitudes held by venture capitalists and entrepreneurs alike. Simply put, the identity of the Bitcoin creator matters. Nakamoto’s secret identity has in some ways been very helpful to the Bitcoin project. Its mystery is alluring, and for those who dig deeper, the elegant brilliance of Nakamoto’s code and prose continue to inspire by example. But in the current environment, mystery may not be as helpful as clarity. If he/she/they were to reveal themselves, they could help resolve disputes before they become civil wars. As Mark Zuckerberg, who knows a thing or two about the merits of the iconic founder, says : The social capital and moral authority that comes from being the founder and having built many of the company’s key products means that on balance people trust you more and give you the benefit of the doubt more when you make tough calls. Fewer people complain and take your time to manage. Fewer people quit and slow your execution. Everything is easier with social capital. Bitcoin is an open-source project, not a company, but the same truth applies. The engineer’s fallacy is to assume that things that cannot be measured do not matter. Social capital is hard to measure, but it is extremely powerful. The attitude that technical projects are somehow beyond such human considerations is common, wrong, and dangerous. In the end, if Bitcoin ultimately fails to achieve its potential, it will be because of human failures, not technical ones. Follow Jon on Twitter at @rezendi . We welcome your comments at ideas@qz.com . Sign up for the Quartz Daily Brief , our free daily newsletter with the world’s most important and interesting news. More stories from Quartz: The Bayer-Monsanto deal is a merger 4,000 years in the making Venmo is turning our friends into petty jerks || British bitcoin market sent extraordinary signals ahead of the Brexit vote: The price of the digital currency bitcoin rose 6.5% in the 24 hours directly after Britain voted to leave the European Union. And while the coin had already been on a ride over the two weeks before the vote (it's up 25% in the last month), for a number of factors besides the Brexit , it is likely that uncertainty over the situation stoked interest in the cryptocurrency, which is seen as an investment asset uncorrelated to the broader economy. Bitcoin price over the past month from Winkdex, including Coinbase data. Note the spike after the Brexit vote, but also the much larger spike well before the vote. New data from Coinbase, which offers the leading bitcoin wallet and a popular bitcoin exchange, proves that the prospect of Brexit had an impact on bitcoin even before the referendum vote. In the week leading up to the vote (June 13-20), Coinbase saw a 55% increase in new account sign-ups from Great Britain, and a 350% increase in bitcoin purchases from UK customers. On the day of the Brexit vote, Coinbase saw an 86% increase in Great Britain signups. It's one of the largest spikes in activity Coinbase has ever seen from one region in one week. The British bitcoin bump is a reminder, a Coinbase spokesperson says, that b itcoin "has long been a hedge against turmoil in Greece, capital controls in China, and macro-economic issues." Indeed, many compare the coin to gold as an investment vehicle. The current market cap of all bitcoins is $10.1 billion. Coinbase, founded in 2012, has 4 million users and is now operable in 32 countries. It launched in the UK just one year ago , giving Brits the ability to buy bitcoin using pounds, euros or dollars. In the US, it recently added the ability for customers to buy bitcoin instantly using a debit card, making it even easier to buy up coin. Expect the fervor around Brexit to show a continued impact on the price of bitcoin. For a conversation with Coinbase cofounder Fred Ehrsam, watch the above video. -- Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Follow him on Twitter at @ readDanwrite . Read more of Yahoo Finances Brexit coverage: Story continues The latest Bitcoin price hike is not all about Brexit This crazy Brexit flowchart shows how the UK could still remain in the EU Brexit might not be so bad for... Burberry Harry Potter author JK Rowling unleashes fury at Brexit voters || Apple and Google want to control your wallet but PayPal has a secret weapon: juan benitez braintree paypal (PayPal Braintree General Manager Juan BenitezPayPal/Braintree) PayPal earned its fame as the internet's original electronic payment system for consumers. But thanks to an acquisition it made three years ago, PayPal is now a contender in one of the fastest-growing and most promising parts of the payments business. PayPal's secret weapon is Braintree , a payments startup it bought for $800 million in 2013. The deal gave PayPal vital technology for the back-end payment processing that's used by a slew of new apps and services, from Uber to Airbnb. It's a competitive business, with richly-valued startup Stripe counting an impressive list of its own marquee customers. But Braintree says it's seeing robust growth in an important part of its business, providing an important engine for its PayPal parent. Braintree is doing 3 times as many transactions as it was this time last year, the company tells Business Insider. Assuming the average dollar amount per transaction hasn't dropped significantly, that increasing usage could help Braintree accelerate the growth in its overall payment volume, which totaled $50 billion in 2015. paypal slide (This chart tracks PayPal's transaction volume on mobile alone. Braintree is a big piece of this.PayPal/Braintree) That's good news for PayPal, which did $282 billion in payment volume in 2015 . With payment volume the best measure of a payment company's success (it's all about how much money you move, after all) that makes Braintree a big piece of PayPal's future success. And at a time when companies like A pple, Google and Amazon are all trying to eat into PayPal's traditional market, with rival payment services, Braintree is providing PayPal with a way new way to stay competitive. (As an added bonus, Braintree had previously acquired popular social payments app Venmo for $26.2 million in 2012, making it a two-for-one deal for PayPal. PayPal, founded in 1998 as a direct way to send money point-to-point, was getting a "little stodgy," Braintree General Manager Juan Benitez says. Braintree presents a new way of looking at payments. Braintree is giving PayPal some much-needed new perspective and a new strategic focus. Story continues "The integration of PayPal into Braintree is going great," Benitez remembers one PayPal executive joking with him recently. Amazon does it When Braintree first started up in 2007, it was a tiny team based in Chicago. Now, it's 500 employees strong, with presence all over the world. Uber on Messenger ride updates (Uber/Facebook) To understand the problem that Braintree helps solve, consider the humble Amazon smartphone app. Finding stuff, putting it in your cart, and paying for it with a credit card or gift card balance is so simple, you don't even think about it. If you're shopping from a phone with a fingerprint sensor, you can even use that. Which is great for Amazon. But for basically any other web merchant out there, it just ain't that easy. Payments, in particular, is hard to do yourself if you're a small startup, especially, it's a maze of fraud prevention, deals with credit card arbitrage firms, and a million other headaches. "Commerce is hard," Benitez says. "Scale is hard." That's where Braintree comes in. It lets developers quickly and easily build payment systems that blend right in with their own apps and websites. They can take credit cards, Bitcoin, Apple Pay, Google Pay, or whatever comes next, without having to be a specialist in any of those things. Just plug in Braintree and go. "When Uber started, how was Uber going to do one-click checkout like Amazon does?" asks Benitez. Airbnb is a customer. So are Uber, Pinterest, GitHub, OpenTable, and lots more companies large and small (Benitez says Braintree can't disclose all of their customers, but some of them are quite large). When you say, pay for an Uber in Facebook Messenger, no matter what payment method you use, it all gets invisibly intermediated by Braintree. So even when Tim Cook promotes Apple Pay at big Apple events, it's Braintree and its customers who get the push. Staying in the game Braintree is a strategic must-have for PayPal, in many ways. While PayPal itself has rapidly improved its technology, both in terms of its app and its behind-the-scenes plumbing, the world is changing. People are doing more and more shopping from mobile apps, while gadgets like Amazon Echo and Google Home present and even newer, more-cutting-edge way to buy stuff. Braintree gives PayPal a way to always be a part of those transactions, wherever and whenever they take place, so long as developers put it in their apps. As computing becomes increasingly mobile, and then moves to other devices entirely, that's a shift PayPal needs to make to survive in the long-term. Stripe Cofounder John Collison (Stripe cofounder John CollisonGetty Images/Brian Ach) And while Braintree faces competitors like fast-growing $5 billion startup Stripe , Benitez says that having access to PayPal's proven model which includes fraud prevention and a presence in dozens of countries across continents is a big differentiator. Still, Benitez says that the greatest challenge isn't so much the competitive field, as it is the drive to help get merchants of all sizes accept digital payments a must in 2016, as smartphones and wearable technology promise to change the way we think of commerce. NOW WATCH: James Altucher makes an argument for not paying back your credit card debt More From Business Insider Fintech could be bigger than ATMs, PayPal, and Bitcoin combined PayPals Braintree is now likely bigger than Square and Stripe combined The biggest feature of Apple Pay could be something no one's talking about || 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) || Traders: Here's where to find some protection for your portfolio ahead of Brexit: The " Fast Money " traders debated which securities were best for padding portfolios with some near-term protection ahead of the vote in the U.K. on whether or not to leave the European Union. The CBOE volatility index (INDEX: .VIX) hit a high of 21.19 on Wednesday, ahead of the referendum vote. Trader Steve Grasso said that the utilities, consumer staples, gold and dividend yielding securities will likely be repurchased after the decision. Gold is a good play, according to trader Guy Adami. Overall, he believes that global slowdown and deflationary pressure are playing a bigger role in international markets than Brexit. Trader Dan Nathan said that he is watching the iShares 20+ Year Treasury Bond ETF (NASDAQ: TLT) (TLT) because of past price action during catalytic events. "When you think back to August, when we really saw risk asset volatility go berserk, we had this spike to new all-time highs or multi-year highs in the TLT and then that came off, and it came off really hard once things calmed down," he said. "The same thing happened in February." Trader Brian Kelly said that the European banks are at risk of selling off because of the recent rally in those names. Deutsche Banke (XETRA: DBK-DE) , Credit Suisse (Swiss Exchange: CSGN-CH) and UBS (Swiss Exchange: UBSG-CH) are all up double digits in the last week. Kelly said he may be looking to increase his short positions in those stocks. Disclosures: Guy Adami Guy Adami is long CELG, EXAS, GDX, INTC. Guy Adami's wife, Linda Snow, works at Merck. Steve Grasso Steve Grasso is long BA, CC, EVGN, GDX, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, UA. Steve Grasso's Kids are long EFA, EFG, EWJ, IJR, SPY. Stuart Frankel & Co Inc. and some of its Partners are long AAPL, AMZN, AVP, CUBA, CVX, DAL, FCX, HSPO, IBM, ICE, KDUS, KO, LDP, LUV, MAT, MCD, MJNA, NE, NEM, NXTD, OLN, OXY, RIG, STAG, TAXI, TEX, TITXF, UAL, URI, VALE, WDR, WYNN, ZNGA. Brian Kelly Brian Kelly is long Bitcoin, GLD, SFK, SLV, TLT, US Dollar UUP. He is short CS, DB, UBS Story continues Dan Nathan Dan Nathan is BABA June/Aug put spread, JD Call spread Long PFE, Long TWTR, IWM long Sept put, XLF long Sept Put spread, XLK long Sept Put spread, FXI long Aug put spread, SMH long Aug put spread, long PYPL call calendar, long TLT Sept risk reversal, XLV July calls, long C Sept puts, VZ July August put spread. More From CNBC Top News and Analysis Latest News Video Personal Finance
[Random Sample of Social Media Buzz (last 60 days)]
1 #bitcoin 2000 TL, 663.674 $, 603.880 €, GBP, 41056.00 RUR, 70662 ¥, CNH, CAD #btc || #MARYJ 0.00000210 BTC(-1.87 %) | Market Cap 109 BTC | Volume(24h) 0.00 BTC | Available Supply 51,887,440 MARYJ || 1 #BTC (#Bitcoin) quotes:
$440.28/$441.00 #Bitstamp
$441.61/$443.19 #BTCe
⇢$0.61/$2.91
$442.20/$442.43 #Coinbase
⇢$1.20/$2.15 || BTCTurk 2002.2 TL BTCe 659.599 $ CampBx $ BitStamp 675.00 $ Cavirtex $ CEXIO 676.93 $ Bitcoin.de 610.99 € #Bitcoin #btc || Bitcoin Round Logo Decal Sticker Vinyl UV Protection - http://cryptostyle.com/hardware/bitcoin-round-logo-decal-sticker-vinyl-uv-protection …
check reviews or buy
$2.00
... pic.twitter.com/PNWLqAdgEB || 1 #BTC (#Bitcoin) quotes:
$735.39/$736.00 #Bitstamp
$702.50/$703.94 #BTCe
⇢$-33.50/$-31.45
$738.02/$738.71 #Coinbase
⇢$2.02/$3.32 || #8BitCoin #8BIT $ 0.012543 (-2.00 %) 0.00002151 BTC (-3.17 %) || $679.00 at 06:45 UTC [24h Range: $625.53 - $694.44 Volume: 12797 BTC] || Get $10.00 in free bitcoin, accept bitcoin or spend payments with paypal. http://bit.ly/get-10-bucks-bitcoin-paypal … || Buy #Bitcoin in the UK with a Debit/Credit Card from http://tinyurl.com/juho5oc @ 10:00 PM pic.twitter.com/J2fURIA8mL
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Trend: down || Prices: 679.46, 673.11, 672.86, 665.68, 665.01, 650.62, 655.56, 661.28, 654.10, 651.78
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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 2019-08-16]
BTC Price: 10374.34, BTC RSI: 45.19
Gold Price: 1512.50, Gold RSI: 74.02
Oil Price: 54.87, Oil RSI: 47.62
[Random Sample of News (last 60 days)]
Bitcoin Falls as Facebook Warns Libra Might Never Launch: Investing.com - Bitcoin fell on Tuesday in Asia after Facebook (NASDAQ:FB) said in a report that Libra might not “be made available in a timely manner, or at all.”
Bitcoin dropped 2.6% to $9,517.9 by 12:15 AM ET (04:15 GMT). Litecoin fell 1.6% to $89.133, while Ethereum was down 3.3% to $205.25. XRP slipped 1.2% to 0.30800.
In its latest quarterly report, Facebook warned a number of factors could hinder the expected launch of its own cryptocurrency, Libra.
The company originally planned to launch the digital coin in 2020.
“Libra has drawn significant scrutiny from governments and regulators in multiple jurisdictions and we expect that scrutiny to continue,” Facebook said in its filing with the Securities and Exchange Commission.
“In addition, market acceptance of such currency is subject to significant uncertainty. As such, there can be no assurance that Libra or our associated products and services will be made available in a timely manner, or at all. We do not have significant prior experience with digital currency or blockchain technology, which may adversely affect our ability to successfully develop and market these products and services,” the social media giant added.
In other news, the Iranian cabinet authorized crypto mining as an industrial activity with the move taken as a first step towards legalizing cryptocurrencies, according to Mehr News Agency.
The government cautioned that users of alt coins were solely responsible for the risks involved and that the use of digital currency was still not permitted.
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Head of SEC Enforcement Dept. for Cryptocurrency, Cyber Security Resigns || Australia Central Bank Argues Bitcoin ‘Unlikely’ To Become Mainstream: Australia’scentral banksaid bitcoin (BTC) andcryptocurrencieswould remain outside mainstream payments in a dedicatedarticleissued on June 20.
Titled ‘Cryptocurrency: Ten Years On,’ the document from the Reserve Bank of Australia (RBA) appears to commemorate the past decade of bitcoin’s existence while admitting zero faith in its future beyond a niche asset.
“Despite achieving some name recognition, cryptocurrencies are not widely used for payments,” its abstract summarizes.
“This article examines why Bitcoin is unlikely to become a ubiquitous payment method in Australia, and summarises how subsequent cryptocurrencies have sought to address some of the shortcomings of Bitcoin – such as its volatility and scalability problems.”
Australia’s government remainshighly risk-averseon cryptocurrency in general, choosing to warn consumers about perceived risks while adopting an aggressivetaxationand data collection policy.
As Cointelegraphreported, in April, the country’s tax agency, the Australian Tax Office (ATO), said it would seek to gain records fromexchangesin order to conduct individual audits on users as and when necessary.
Earlier this month, itemergedinvestigators were conducting 12 cross-border operations focusing on tax avoidance related to cryptocurrencies.
“At the Australian level, there is definitely legitimate use for investment in cryptocurrencies, but we're also seeing the use of them to facilitate tax crimes,” ATO deputy commissioner, Will Day, commented at the time.
The RBA article nonetheless appears to paint a less optimistic picture, championing the Australian dollar as a preferable alternative to cryptocurrency.
The researchers concluded:
“As long as the Australian dollar continues to provide a reliable, low-inflation store of value, and the payments industry continues to work on the efficiency, functionality and resilience of the Australian payments system, it is difficult to envisage cryptocurrencies presenting a compelling proposition that would lead to their widespread use in Australia.”
• 4 Big Reasons Bitcoin’s Price Will Probably Not Stop at $20K This Time
• Fidelity-Backed Crypto Analytics Firm to Integrate Twitter-Based Crypto Sentiment Feed
• Craig Wright Ordered to Personally Appear at Bitcoin Theft Mediation
• Former Wall Street Exec Tone Vays: There Is No Evidence That the Crypto Winter Is Now Over || Tim Draper hedges $250,000 Bitcoin price call: Billionaire investor Tim Draper once famously said that Bitcoin’s price would reach $250,000 by 2022 and this week he returned to the predictions game, in slightly more cautious mode. During an interview with Yahoo! Finance , he said: “$250,000 by 2022, and I’m hedging a little, maybe Q1 2023. It may be Q1 2023, but it will be [$250,000] before that.” “You know it’s interesting, it (Bitcoin) has consolidated more than I thought it would,” Draper added. “I thought there would be many more competitors at this point that were really relevant, but people have consolidated toward Bitcoin because it’s decentralised and that’s why they get the flack at Facebook for being a centralised currency.” Starbucks By 2022, people will routinely use Bitcoin in everyday transactions such as buying coffee at Starbucks, Draper claimed earlier this year. In a podcast interview on NBC Bay Area’s “Sand Hill Road,” he said: “Bitcoin is one of the greatest technological advances that humanity has ever seen and it can make a bigger change in society than any of us ever imagined.” He added: “I think when you go to Starbucks to buy a cup of coffee, and you try to pay with dollars, they will laugh at you because you are not using Bitcoin or other cryptocurrency…It will be like the old lady paying out with pennies.” But if, as predicted by Draper, a single Bitcoin will be worth $250,000, how can it ever hope to cross over to the mainstream? “Is that a problem?” he responded. “That’s a temporary problem. There is a market for Bitcoin right now. People are buying and selling it and they are buying and selling things and services with it. As it spreads, it will go up in value. And it is spreading.” The post Tim Draper hedges $250,000 Bitcoin price call appeared first on Coin Rivet . || AUD/USD and NZD/USD Fundamental Weekly Forecast Weak Aussie CPI Could Outweigh Impact of Fed Decisions: The Australian and New Zealand Dollars broke sharply last week with the selling pressure driven by stronger-than-expected U.S. economic data and domestic central bank activity. There were no major economic reports in Australia and New Zealand, however, the U.S. government released surprisingly strong economic reports. Investors were also positioning themselves ahead of the U.S. Federal Reserve policy decisions on July 31. The price action suggests that investors greatly reduced the chances of an aggressive 50-basis point rate cut, while holding steady the chances of the widely expected 25-basis point rate cut. Australian Dollar The Australian Dollar was pressured by a combination of stronger-than-expected U.S. Durable Goods and GDP data. Traders also cut long positions as the financial markets reduced the chances of an aggressive 50-basis point rate cut by the Fed. However, the heavy selling pressure was fueled by dovish comments from Reserve Bank of Australia (RBA) Governor Philip Lowe. Lowe said last week the central bank could keep cutting the cash rate in the coming months to support the ailing economy. After back to back rate cuts in June and July drove the RBAs benchmark rate to an unprecedented 1%, Lowe said in Sydney on July 25 that borrowing costs were likely to remain low for some time. Whether or not further monetary easing is needed, it is reasonable to expect an extended period of low interest rates, Lowe said. The RBA is not expected to cut rates at its August 6 meeting, but it will be going into the meeting live. This means anything can happen. In the meantime, Westpac predicted cuts in October and February as economic indicators continued to point to weak growth and stagnant wages. Additionally, a consensus of economists believe the rate will reach 0.5% by early 2020 with one cut in the spring and another in the new year. Last week, the AUD/USD settled at .6911, down 0.0131 or -1.86%. New Zealand Dollar Last week, the Reserve Bank of New Zealand made an announcement that showed policymakers believe the New Zealand economy is no longer immune to unconventional policy. The central bank cut its benchmark rate to 1.5% in May and economists expect another reduction on August 6 amid tepid inflation and slowing economic growth. With the benchmark rate expected to drop to 1% by the end of the year, the RBNZ will likely have to turn to unconventional measures to help stimulate the economy. This year the Reserve Bank has begun scoping a project to refresh our unconventional monetary policy strategy and implementation. This is at a very early stage, the RBNZ said in response to an Official information Act request for work on non-standard policy measures. Story continues One unconventional measure could be to take the OCR below zero. The RBNZ could also conduct large scale purchases of either government or corporate bonds, known as quantitative easing. Last week, the NZD/USD settled at .6639, down 0.0122 or -1.81%. Weekly Forecast The Fed is widely expected to cut its benchmark rate 25-basis points on July 31. This news has been priced into the market for several weeks. The market moving event will be Fed policy toward future rate cuts. Investors want to know if the Fed will follow-up this rate cut with another in September and December. Or, if it will skip September and cut again in December. Investors will also want to know what criteria Fed policymakers will use to make their decisions. This is important because the U.S. economy is strong and the Fed will be making preemptive strikes to keep the expansion going. The AUD/USD and NZD/USD will strengthen if the Fed is explicitly dovish. In other words, a clear signal has to be sent to investors that rates will be coming down for some time. The direction of Aussie and Kiwi will ultimately be determined by the direction of U.S. Treasury yields. If yields fall then this will send a signal that the market feels the Fed shouldve been more aggressive. If yields stay flat or rise then this will signal that Fed policymakers got it right. Rising Treasury yields will make the U.S. Dollar a more attractive asset. After the Fed announcements, investors will quickly shift their focus toward the August 6 RBA and RBNZ monetary policy meeting. Wednesdays Australian CPI and Fridays Retail Sales reports could determine whether the RBA makes a third consecutive rate cut at its next meeting. Right now, investors dont expect central bank policymakers to make any changes. The RBNZ is widely expected to cut rates on August 6. The key report to watch this week is Wednesdays ANZ Business Confidence report. This article was originally posted on FX Empire More From FXEMPIRE: Trader Indecision Controls Crude, Gold; Weather Sets Natural Gas Tone Weekly Wrap The U.S Dollar Rally. Will the FED Hit Pause on a Rate Cut? Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 27/07/19 US Stocks Supported by Earnings, Calls for More Central Bank Stimulus Gold Price Prediction -Gold Edges Higher Despite Solid GDP Natural Gas Price Fundamental Weekly Forecast Forecasts Calling for Light Demand During First Ten Days of August View comments || Brent Crude Oil Price Update – Daily Direction Controlled by Fibonacci Level at $59.07: International-Brent crude oil futures closed higher on Friday despite an International Energy Agency report that showed demand growth dropping to its lowest level in 11 years. The IEA said global demand to May from January grew at its slowest pace since 2008, hurt by mounting signs of an economic slowdown and a ramping up of the U.S.-China trade dispute. Buyers instead were motivated by Euroilstock data that showed total crude and product inventories of 16 European nations in July were slightly lower than in June.
On Friday,October Brent crude oilsettled at $58.53, up $1.15 or +1.96%.
The main trend is down according to the daily swing chart. Earlier in the week, the downtrend was reaffirmed when sellers took out a pair of main bottoms at $58.42 and $58.14, but the selling pressure stopped at $55.88, well above the December 24, 2018 main bottom at $52.04.
The main trend will change to up on a trade through $65.43. We’re not likely to change the trend on Monday, but we could see a normal retracement into a short-term retracement zone.
The major retracement zone controlling the longer-term direction of the market is $59.07 to $63.58.
The short-term range is $65.43 to $55.88. Its retracement zone at $60.66 to $61.78 is the next upside target. Since the main trend is down, sellers are likely to come in on a test of this zone.
Based on Friday’s price action and the close at $58.53, the direction of the October Brent crude oil market on Monday is likely to be determined by trader reaction to the long-term Fibonacci level at $59.07.
A sustained move over $59.07 will indicate the presence of buyers. If this creates enough upside momentum then look for a potential drive into the short-term retracement zone at $60.66 to $61.78. With the main trend down, look for sellers to show up on a test of this zone. They are going to try to form a secondary lower top.
A sustained move under $59.07 will signal the presence of sellers. The first downside target is a minor pivot at $57.59. If this fails then look for the selling to continue into last week’s low at $55.88. Don’t be surprised by an acceleration to the downside if this low is taken out. The daily chart indicates there is room to the downside with the next major target the $52.04 main bottom.
Thisarticlewas originally posted on FX Empire
• GBP/JPY Weekly Price Forecast – British pound breaks significant figure
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• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 10/08/19
• Crude Oil Weekly Price Forecast – Crude oil markets find support || Ethereum Foundation Directors New Role to Help Business Use Public Blockchain: The Enterprise Ethereum Alliance (EEA) has appointed Aya Miyaguchi, executive director of the Ethereum Foundation, to its board as the EEA unveils its new Mainnet Initiative. Miyaguchi, who looks after governance on the side of the public ethereum blockchain, will join EEA as a board member and bolster the interoperability and standards building work being done by EEA executive director Ron Resnick. The price of ether over the past month via CoinDesk data . This is an exciting time, said Ethereum Foundation executive director and EEA director Aya Miyaguchi in a statement. Related: Cosmos Will Have 3 Coding Languages Heres Why That Matters As blockchain adoption accelerates, its important that the Ethereum Foundation work to connect businesses with the latest research and development coming from our worldwide community, and that we convey our challenges and experiences while better understanding those impacting industries. The EEAs new Mainnet Initiative is a technical working group that will bring public and enterprise efforts closer together. It will define the best ways the public network components can match the commercial market requirements needed to allow the world to connect to ethereum. Joseph Lubin, EEA board member, co-founder of Ethereum, and founder of ConsenSys, said in a statement: In the past year, we have seen the great acceleration of interest in and adoption of Ethereum technology by the enterprise. Notably, there have been tangible and committed efforts to use ethereum mainnet by the enterprise and to build infrastructure for mainnet that will also serve many business use cases for the long term. Major organizations from the big four and big tech to pharma, major financial service companies, central banks, and large energy companies are all turning significant attention to ethereum. Related: From Ghana to the Bronx, These Teen Bitcoiners Are Building the Future More detail on the EEA Mainnet Initiative will be revealed at the forthcoming Devcon5, October 8-11, 2019, in Osaka, Japan. *This story has been updated to reflect the fact Aya Miyaguchis appointment to the EEA board is not specifically to drive the mainnet initiative. Aya Miyaguchi image courtesy of ConsenSys Related Stories ConsenSys-Backed Truffle Is Taking Its Dev Tools Beyond Just Ethereum AWS Backs $100,000 Competition to Change the Face of Blockchain View comments || Financial Markets Collapse Supports Bitcoin: In case the session closes above this mark, it should convince the market participants that the correction is really finished. In the meantime, the bulls are constantly getting evidence of unrealized consumer demand. The area of around $11,800, which was previously a resistance, can now act as support.
Altcoins are reluctant to join the Bitcoin rally. The main event in the world of alternative cryptocurrencies was the halving of the Litecoin (LTC). The miner award has now been reduced to 12.5 LTC. At the same time, the LTC price showed a significant growth of almost 12%.
However, the impulse did not last long, and by Monday evening the LTC was selling out. The halving of the 4th largest cryptocurrency in terms of capitalization has not brought the expected dividends so far. By Tuesday morning, even against the backdrop ofBitcoin’sgrowth, the LTC still does not even reach $100.
Large investors are concentrated mostly around Bitcoin, ignoring all other cryptocurrencies. This process is natural, as any market undergoes a phase of consolidation. Projects like Ethereum are very rare, and with the arrival of major players, promising developments of small companies are quickly bought out by market leaders. In fact, the institutional infrastructure was created only around Bitcoin.
The geopolitical situation in the world has now deteriorated so much that the escalation of the trade war between the U.S. and China with the subsequent devaluation of the renminbi exchange rate, flight to “safe havens”, Fed rate cut, fears around stock indices may provoke investors to move funds even in such volatile assets as Bitcoin in an attempt to wait out the storm in traditional financial markets.
Officials openly admit that they would not be able to get rid of Bitcoin, even if they wanted it very much. The worse the situation in the global economy is, the louder and more irresponsible the statements of populist politicians are, the brighter the prospects for the BTC and, partly, for the altcoins. The current spikes of growth can also be attributed to panic among the Chinese, as the value of the renminbi and stock prices in local markets are declining rapidly due to the trade war. In addition, one should not underestimate the country’s consumer potential and the propensity of the Chinese for gambling games.
If we remember the moment when Bitcoin was created, the logic of the asset’s existence continues to be confirmed: the cryptocurrency is backed by the instability of the traditional financial and political systems. In addition, the negative news background around the fierce reaction of officials around the world against Libra has disappeared. At the moment everyone is waiting for the launch of Bakkt and the appearance of delivery futures on BTC, which in theory may be ideal conditions for the continued growth of Bitcoin.
This article was written byFxPro
Thisarticlewas originally posted on FX Empire
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• Oil Price Fundamental Daily Forecast – API Data Expected to Show U.S. Crude Inventories Fell || Bitcoin leads the market as price rises above $10,500: Bitcoinhas seen significant gains in price this week that have not only pushed its value above $10,000 but onwards to $10,500. This represents a five and a half percent increase over the last 24 hours.
Last Saturday, the price of bitcoin fell below the important $10,000 mark, plunging $500 in 30 minutes before dropping further to a $9,300 weekly low on Sunday. Through the week, however, there has been some bullish momentum which culminated in a $1,200 gain in the last five days.
This price gain has helped the rest of thecryptocurrencymarket go mostly green too, with $10 billion added to the total crypto market cap almost overnight. ForBitcoin, its own market cap is now approaching $200 billion again.
The last time Bitcoin’s market was valued at $200 billion was on July 11, with the price sitting at 11,200. Things went south from there at the same time as the U.S. Senateannouncedan upcoming hearing on Facebook’s Libra project.
Things now look to be on the up, and it might be that the US government is the catalyst again. It wasannouncedon Wednesday that the Federal Reserve will lower interest rates for the first time in Bitcoin’s existence in an attempt to stave off the possibility of an economic downturn. Because Bitcoin is seen as an alternative to traditional currencies and investments, fear of an economic downturn can make it seem an attractive alternative.
In the top 10, Bitcoin SV is the biggest winner of the day as it has increased its value by 6.2 percent—despite its main proponantlosing a court battleagainst Roger Ver—while a little further down the list Tezos still seems to rising in the afterglow of itsunveilingon Coinbase Pro, up 15.4 percent.
With the positive prices across the board, a few crypto fans on Twitter have againwhisperedthe words, 'Bitcoin isn't going under $10,000 again'. But we all knowhow that wentlast time. || Litecoin Could Blast Off Due to Halving and Wave Two of Bull Run: Litecoin halving is a few days away as rudimentary Elliott Wave analysis reveals that it ended wave two of its bull run. | Source: Shutterstock The Litecoin halving is just a few days away. Even with this bullish catalyst on the horizon, the No. 4 cryptocurrency appears to be struggling against bitcoin . Litecoin (LTC/BTC) has posted four consecutive red candles on the monthly chart against bitcoin. The slump saw the coin’s value drop from the 2019 high of 1,893,900 satoshis in April down to lows of 797,600 satoshis this month. That’s plunge of over 57 percent in three months. The good news is that the end of the correction might be in sight. Litecoin is printing multiple bullish signals against bitcoin. If our analysis is correct, the LTC/BTC market could skyrocket by over 60 percent in the next few months as the market ends wave two. Rudimentary Elliott Wave Analysis Reveals That Litecoin May Have Ended Wave Two of Its Bull Run While everyone’s busy predicting what bitcoin’s next move will be, Litecoin made a series of moves showing the correction has finally come to its end. A rudimentary Elliott Wave analysis of the daily chart shows that the market completed wave one when it climbed as high as 1,893,900 satoshis on April 3. It then entered wave two and painted a corrective A-B-C wave. Typically, the corrective A-B-C wave drives the price down by 60 percent . The downward spiral to 797,600 satoshis on July 16 meets this requirement. Litecoin WAVE Counts If our wave counts are accurate, this means that the cryptocurrency appears ready to blast off. Wave three is the longest wave up. In other words, Litecoin could surpass the 2019 high of 1,893,900 satoshis. Read the full story on CCN.com . || Over 94% of daily BSV transactions come from a weather app: CoinMetrics: More than 94% of Bitcoin Satoshi Vision (BSV) network activity comes from a weather app called WeatherSV, according to a report from blockchain analytics firm CoinMetrics on Tuesday.
The firmstudiedOP_RETURNS, a bitcoin script that allows users to write arbitrary data onto a blockchain. “As of July 14th, over 94% of all BSV transactions are being sent by WeatherSV,” it said.WeatherSV is an IT services firm based in Australia, and the app waslaunchedback in April to index and retrieve climate data stored on the BSV blockchain. WeatherSV chose BSV because to run the same application on bitcoin (BTC) or bitcoin cash (BCH) would have been costly, it said at the time.
[Random Sample of Social Media Buzz (last 60 days)]
The teams working so hard on this! New release coming soon! || #bitcoin Pullback for COINBASE:BTCUSD by ApisBull #BTCUSD https://t.co/1D8rCD6xBs https://t.co/KRQ0IAA9ZN || Director Of User Experience - Cloud to Street ( BROOKLYN, United States ) - [ ➡ https://t.co/kEqZKcmtVo ] #AI #AiJobs #ArtificialIntelligence #jobs #Hiring #Careers #Cryptocurrency #Blockchain #BTC #BitCoin #ETH #crypto https://t.co/MVAS44Kf4j || 現在の1ビットコインあたりの値段は1,150,078.6396円です。値段の取得日時はAug 3, 2019 22:16:00 UTCです #bitcoin #ビットコイン || There’s one big reason why consumers may want to avoid shopping with cryptocurrency. #btc https://t.co/yc0qCuULHj https://t.co/PTGNMqnPAV || Top 5 #cryptocurrencies
Alert Time: 2019-06-29 15:22:03
#Bitcoin: $8,795.65184
#Ethereum: $268.81203
#XRP: $0.40927
#Litecoin: $137.09295
#BitcoinCash: $418.81387
#trx #trading #virtualcurrency #bch
https://t.co/2WrXPxHbZB || @cryptoshiro 2018年生き残ったやつはむしろBTCのドミナンス流れてきてアルトバブルきて祭りしようと全裸待機してる || @TimDraper bitcoin is about to hit 12k back, what you should do as a good investor is to have an efficient strategy of increasing your portfolio. I was able to make 7btc with 1.5btc within 3weeks with the same strategy. You can reach him via telegram @portfoliobuilder88 || La ‘revolución’ del || $EPAZ's Bitcoin Sharing & Blockchain Social Media App Webbeeo Is In Alpha Testing Phase https://www.owltmarket
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Trend: up || Prices: 10231.74, 10345.81, 10916.05, 10763.23, 10138.05, 10131.06, 10407.96, 10159.96, 10138.52, 10370.82
|
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 2021-03-05]
BTC Price: 48927.30, BTC RSI: 53.78
Gold Price: 1698.00, Gold RSI: 27.94
Oil Price: 66.09, Oil RSI: 72.99
[Random Sample of News (last 60 days)]
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% || First Mover: Bulls Are Back as Ether Hits All-Time High, Bitcoiners Hoard: Bitcoin (BTC) was higher for a third day,pushing on the upper end of its range over the past couple weeks, between $30,000 and $36,000.
“Cryptocurrency has come into the realm of respectability,”Scott Minerd, chief investment officer of the $310 billion money manager Guggenheim Partners,told CNNin aninterview. Minerd, whoin December saidbitcoin should be worth $400,000,said last monththat the price could drop to $20,000 in the short term. Now he says a price as high as $600,000 is conceivable.
Ether (ETH), the second-biggest cryptocurrency, was carrying throughon Wednesday after hitting a new all-time high price. (Read more about that below.)
Related:Saylor, MicroStrategy Offer Playbook for Corporate Bitcoin Adoption at Annual Summit
Dogecoin (DOGE) appeared to stabilizearound 3.3 cents, which is still more than four times where it changed hands a week ago. The doggie-faced meme token, which is attractingsocialmedia chatter, has been the object of price pumpsat least five times since mid-2017.
Ether breaks $1,500:All eyes are on ether (ETH), the second-biggest cryptocurrency, after its price shot above $1,500 for the first time on signs of growing activity on the Ethereum blockchain. Prices, which quintupled in 2020, have more than doubled already this year, overshadowing the better-known bitcoin’s 21% year-to-date return.
CME, the Chicago-based commodities exchange, is set to debut its new futures contractson ethernext week. That might generate additional buzz for ether, since the CME’s bitcoin futures, listed in late 2017, have grown to become one of the most popular ways for big institutions to bet on the largest cryptocurrency.
Some analysts connected the move to the turmoil in stock markets:Online brokerages including Robinhoodrestricted transactionsto rein in volatility fueled by Reddit-based retail traders’coordinated buyingin GameStop and other out-of-favor stocks.
Related:Taproot Update: Bitcoin Users Home In on Activation Plan, Date Still TBD
“The case for cryptocurrencies only grows stronger,” Nicholas Pelecanos, head of trading at NEM Group,toldCoinDesk’s Omkar Godbole.
More ether is locked:Simon Peters, an analyst for the trading platform eToro, noted that more ether are getting locked up in specific uses including staking them in Ethereum 2.0, a planned upgrade for the blockchain. The tokens are also getting socked away in decentralized finance (DeFi) protocols.
Institutional buyers might be pushing prices higher:“Either way, it’s clear from the price that this diminishing supply is feeding through quickly to prices,” Peters said in emailed comments. “With institutions expected to add further to their positions, we expect the price of ethereum to push higher from here.”
GameStop (GME) continued its slide:The stocktumbled 60%on Tuesday in what appears to be a comedown from last week’s Reddit-fueled price pump. Other “meme stocks” AMC Entertainment (AMC) and BlackBerry (BB)also fell.
Virtual asset traders have kept a close eye on the saga.That’s partly because the entire episoderecalledthe anything-goes culture prevalent in cryptocurrencies, but also because some of those fired-up retail traders might ultimately decide togive digital assets a try.
“Looking at the charts today, it does seem like it’s game over for GameStop,”Mati Greenspan, founder of the foreign-exchange and cryptocurrency analysis firm Quantum Economics, told his subscribers Tuesday. “One lesson that the world seems to have learned is that social media can be a leading indicator, and even a driving force, for future price movements.”
Of course, the use of social media in trading is as relevant an issue to cryptocurrency tradersas it is to the investors in traditional whose faith in stock markets might now be somewhat shaken: If the trading moves were coordinated among a huge number of individuals on a public forum, is it akin to a traditional pump-and-dump scheme?
U.S. securities regulators may find it difficult to bring a case.(Though the matter is under review by the Biden Administration, includingTreasury Secretary Janet Yellen, with both the U.S. Senate and House of Representatives planning to hold hearings, asreportedby CoinDesk’s Nikhilesh De. Chinese regulators are also watching closely, CoinDesk’s David Panreported.)
Mark Cuban, the “Shark Tank” investor and basketball team owner, doesn’t expect the new trading phenomenon to disappear anytime soon, hetold CNBC Tuesday:“I think now that they’ve recognized their power and now that they’ve learned some lessons, we’re going to get more of it, not less of it.”
Some analysts are starting to connect the dots to cryptocurrency trading.Edward Moya, a senior analyst for the London-based foreign-exchange broker Oanda, wrote Tuesday in a market update that “panic selling across GameStop, AMC and silver is triggering a nice bid on cryptocurrencies.”
Few crypto Twitterati would denythe role social media play in newfangled digital markets.
Indeed, the Reddit forum r/SatoshiStreetBets was filled early Wednesday with posts calling to pump dogecoin– a digital token created as a joke, with the adorable dog breed Shina Inu as its ubiquitous icon – “to the moon” later this week. There’s even asong.
With bitcoin up 21% so far in 2021 and ether hitting a new all-time high, digital-asset managers arerolling out announcementsto take advantage of what they see as still-growing demand among investors for cryptocurrencies.
• Bitwise Asset ManagementsaidTuesday it’s seeking U.S. regulatory approval to publicly trade shares of its bitcoin fund on the over-the-counter marketplace OTCQX. “There is significant growth in interest from professional investors in accessing bitcoin as a tool to hedge their portfolios against rising inflationary risk,” says Matt Hougan, Bitwise’s chief investment officer.
• Grayscale Investmentsreopenedits Ethereum Trustearlier this week to accredited investors. (NOTE: Grayscale is a unit of Digital Currency Group, which also owns CoinDesk.)
• Switzerland’s 21Shares (formerly known as Amun) islaunchingtheworld’s first exchange-traded product for the cryptocurrency polkadot(DOT), to be traded on the Swiss SIX Exchange under the ticker symbol PDOT. Prices for DOT have doubled this year, for a market capitalization of about $15 billion.
• The investment firm Accelerate Financial Technologiesis seeking approval from Canadian securities regulators to list a bitcoin exchange-traded fund on the Toronto Stock Exchange, CoinDesk’s Tanzeel Akhtarreported Wednesday.
The offerings come amidother signs of institutional demand for cryptocurrency-related investments, including thedisclosureof a new $10 million bitcoin purchase by Michael Saylor’s MicroStrategy (MSTR). The $441 billion California Public Employees’ Retirement System, which is the largest U.S. public pension fund,disclosed Tuesday in a filingit held about 113,000 shares of the bitcoin miner Riot Blockchain (RIOT) at the end of 2020, worth some $1.9 million.
And CoinDesk’s Muyao Shenreported Tuesdaythatbalances of the stablecoinsdai(DAI) andUSD coin(USDC) on cryptocurrency exchanges had reached new all-time highsin the past week. Citing the blockchain data tracker Glassnode, Shen reported the increase might be a bullish indicator if it reflects buyers’ plans to use the two stablecoins to buy cryptocurrencies.
The furor over the trading platform Robinhood’s stock suspensions in the wake of the GameStop saga isgenerating fresh interest in decentralized finance,where entrepreneurs are building automated exchanges and lending protocols atop blockchain networks. The idea is that the computer-run systems might be fairer and less prone to ad hoc human interventions in market operations.
Yet, thefast-growing industry is still working out its kinks.
• Stakeholders inYearn Finance, which acts like a robo-advisor steering users toward opportunities for earning high yields in DeFi protocols, voted this week to sell more tokens to raise money tocompensate people who are working on the project as de facto staffers. The decision marked a clear shift for the team, which accrued a unique amount of buzz for eschewing the convention of setting aside governance tokens for insiders, CoinDesk’s Brady Dalereported. “Yearn’s launch was exceptional at creating a decentralized and engaged community, but it did not provide adequate incentives to retain existing and future contributors on an ongoing basis, nor did it provide the protocol with a war chest to fund future activities,” the proposal’s authors wrote.
• Ren, whose RenBTC has become the second-leading “tokenized bitcoin” in DeFi with a market cap of more than $500 million, isreportedly “joining” cryptocurrency entrepreneur Sam Bankman-Fried’s Alameda Reseearch, according to ablog post. But as reported by CoinDesk’s Will Foxley Smith, the exact nature of the arrangement wasn’t entirely clear. Bankman-Fried drew attention last year when he briefly stepped in to take control of the decentralized exchange SushiSwap. Ren said it plans to prioritize support for the blockchain Solana, which Bankman-Fried has supported. The blockhain’s SOL tokens have nearly tripled in price this year, for a market capitalization of about $1.4 billion.
• Manta Network, another DeFi project, says that while volumes are increasing on decentralized exchanges, they’re also a “hotbed for front-running opportunities,” asreportedby CoinDesk’s Benjamin Powers. Manta CEO Shumo Chu said in an email that a recent survey showed that nearly three-quarters of the 404 respondents (73.2%) “have either hesitated or completely avoided making a transaction in the past because they were worried about the privacy implications of that transaction.”
Long-term investors continue to hoard bitcoin, sucking up market supply and helping the cryptocurrency maintain its broader upward trajectory, CoinDesk’s Omkar Godbolereports.
Data provided byGlassnodeshows thetotal balance ofbitcoinheld in “accumulation addresses” rose to a 3.5-year highof 2,851,608 BTC on Tuesday. That amounts to 15.32% of the total circulating supply of 18,618,081 BTC. The number stood slightly below 14% three months ago.
Accumulation addresses are those that have at least two incoming non-dust transfers(tiny amounts of bitcoin) and have never spent funds. The metric excludes addresses active more than seven years ago to adjust for lost coins and those belonging to miners and exchanges.
• First Mover: Bulls Are Back as Ether Hits All-Time High, Bitcoiners Hoard
• First Mover: Bulls Are Back as Ether Hits All-Time High, Bitcoiners Hoard || When will Bidens $1,400 stimulus check pass? Heres everything to know: Our mission to make business better is fueled by readers like you. To enjoy unlimited access to our journalism, subscribe today . Newly inaugurated President Joe Biden wants to pass an ambitious $1.9 trillion economic aid package that includes a $1,400 stimulus payment for most Americans . But its easier said than done. Thats because Senate Republicans and even some moderate Democrats seem likely to oppose portions of the broad bill , which includes everything from aid to state governments to raising the federal minimum wage to $15 per hour. To get checks out faster, some House Democrats may now be looking to first pass legislation to send out $1,400 stimulus checks and funding for vaccines (two items that are more likely to garner bipartisan support) in the next week, and then push the broader package until March, Punchbowl News, founded by three former Politico writers, reported on Wednesday . But the possibility of an expedited $1,400 stimulus check bill is by no means a sure thing. House Speaker Nancy Pelosi told reporters on Thursday that Democrats will be completely ready to get a COVID-19 relief deal on the floor in February. If Biden and Pelosi do insist on keeping the $1,400 stimulus checks in with the broader bill, it could delay the checks as the massive spending bill is likely to face more resistance . Democrats only have a narrow majority in the Senate, with Vice President Kamala Harris serving as the tie-breaking vote in the 50-50 split chamber. That means every Democratic Senator has to fall in line in order to pass a deal through budget reconciliation, which only requires 51 votes versus the 60 votes it takes to prevent a filibuster. But even that path is uncertain: It remains unclear if they can pass a bill of that scope through budget reconciliation. Some like Raymond James Washington policy analyst Ed Mills argue the Houses potential consideration to first do a smaller bill including $1,400 stimulus checks and money for vaccines to notch an immediate legislative victory is a positive recent development, he wrote in a Wednesday note. Though he suggests March is increasingly looking like the earliest potential timeline to negotiate the bigger deal. And even in a smaller bill, Mills points out the push for checks still would have to clear the Senate, where there have been mixed signals in terms of support. Story continues While President Bidens clear preference is to move forward with a bipartisan bill, Biden spokeswoman Jennifer Psaki said Wednesday, We are also not going to take any tools off the table for how the House and Senate can get this urgent package done. Though it remains unclear when a package with the $1,400 checks will pass, we do have a good idea of what the payment will look like. Heres what we know so far. How much should I expect? And who is eligible? Stimulus payments included in the Dec. 2020 package decreased for households with 2019 adjusted gross income (or, federally taxable income) above $75,000 per individual or $150,000 per qualified couple. The last round also completely phased out checks for individuals earning above $99,000, and joint filers with no children at $198,000. Its likely that those levels and thresholds will be used for Bidens $1,400 stimulus checks, though the Biden administration hasnt yet released full details. Once a deal gets passed, when would the $1,400 checks arrive? After the $900 billion stimulus package on Dec. 27, the $600 payments started to be deposited on Dec. 30 less than the two weeks it took for the $1,200 direct payments from the CARES Act signed in March 2020 to start depositing. Once passed, the Treasury Department would likely follow the same timeline as December and get those $1,400 checks deposited just a few days after the legislation passes. More must-read finance coverage from Fortune : A stock market correction may be around the corner . Heres how investors should play it How Bitcoin tanked on a false double spend rumor When will Bidens $1,400 stimulus check pass? Heres everything to know Goldman reveals first look at new Marcus Invest platform 8 tech stocks to buy for 2021 SPACs are red-hotbut theyve been a lousy deal for investors This story was originally featured on Fortune.com || ‘Bitcoin Rich List’ Rebounds to Hit All-Time High: The number of addresses holding over 1,000bitcoin(worth of approximately $37.5 million at the current price) is now at 2,334, a new all-time high, after the number dropped at the end of December by 3.7% to 2,221. This is an indication “whales” (large bitcoin holders) have been bullishly accumulating more bitcoin and driving the price higher.
The 2,334 addresses each holding more than 1,000 bitcoin represents a gain of more than 30% compared with the end of 2017, the height of the previous crypto bull market, according to on-chain data site Glassnode. The metric has been on the rise since mid-October 2020, but suffered a temporary 4% drop between Dec. 18 and Dec. 26.
“The dip and renewed increase at the end of December shows relatively little interest in profit taking on the part of these large holders, even though almost all holdings are currently in profit,” according to CoinDesk Research’squarterly review reportpublished on Jan. 7.
Related:Bitcoin's Market Value Now Exceeds That of Facebook
Data from BitInfoChartsalso shows there are 6,633 addresses holding bitcoin worth more than $10,000,000 and, according to crypto exchange Kraken’s market recap and outlook report for December 2020, bitcoin addresses with more than 100 bitcoin accumulated an additional 47,500 bitcoin (currently worth $1.8 billion) throughout December because of the price rally.
The so-called “Bitcoin Rich List” reflectsrising institutional involvement in the bitcoin marketsince the beginning of 2020. Another sign of that isthe fast-growing volumes and open interest on the Chicago Mercantile Exchange (CME), an institution-focused derivatives exchange.
At the press time, bitcoin’s price was trading at $38,290, down only moments after breaking the $40,000 landmark for the first time ever. Only the day before, it crossed the $36,000 mark for the first time. The total value of the whole crypto market alsosurpassed the $1 trillion landmarkon Wednesday.
Read More: Bitcoin Tops $40K for First Time, Has Doubled in Less Than a Month
Related:First Mover: It Might Be Getting 'Silly' as Bitcoin Passes $39K, $40K, $41K
“While the 2017 bitcoin rally was largely driven by retail frenzy, the 2020 rally was driven mainly by institutions,” according to CoinDesk Research’s report . “The accelerating rhythm of large institutional investors publicly talking about an investing in bitcoin as a portfolio asset has not only lent validation of bitcoin’s role in portfolios; it has also attracted the attention of other investors. This self-reinforcing loop is likely to continue into 2021, especially given the mounting uncertainty around currencies and inflation.”
Bitcoin’s market capitalization currently stands at ninth on asset tracking websiteAssetdash’s asset list, only lower than that of electric vehicle maker Tesla.That company’s CEO, Elon Musk, replaced Amazon’s Jeff Bezos earlier Thursdayas the richest person in the world after Tesla’s share price soared.
• ‘Bitcoin Rich List’ Rebounds to Hit All-Time High
• ‘Bitcoin Rich List’ Rebounds to Hit All-Time High || Crypto Long & Short: No, Bitcoin Is Not in a Bubble: To think that such a festive concept, one that evokes both sophistication and childlike wonder, could become so financially charged …
Last week, Bank of America Securities chief investment strategist Michael Hartnettsaid in a notethatbitcoinlooks like “the mother of all bubbles.”
Harnett seems to be using the strength and speed of bitcoin’s price rise as the base for his diagnosis, as if that is the main feature of a financial bubble. It isn’t.
Related:Blockchain Bites: Goldman Sachs Investigates Crypto Custody, Solving the Blockchain 'Trilemma'
Continuing the misuse of the word, in a notequoted on Bloombergthis week, investment management firm Man Group said: “Every time a bitcoin bubble bursts, another grows back to replace it … This very frequency makes the bitcoin narrative somewhat atypical relative to the great bubbles of the past.”
This is less irritating in that Man Group recognizes that bitcoin is “atypical” – but it also seems to believe that bitcoin is a bubble. It’s not.
To see why, let’s pull out our financial dictionaries:
Investopedia: “During a bubble, assets typically trade at a price, or within a price range, that greatly exceeds the asset’s intrinsic value (the price does not align with the fundamentals of the asset).”
Related:Blockchain Bites: Coinbase Wants to Crowdsource Asset Listings; What's Up With Tether's Bank?
Nasdaq: “A market phenomenon characterized by surges in asset prices to levels significantly above the fundamental value of that asset.”
Wikipedia: “A situation in which asset prices appear to be based on implausible or inconsistent views about the future. It could also be described as [an asset that trades] at a price or price range that strongly exceeds the asset’s intrinsic value.”
Do you see the common thread? An asset is in a bubble when its price increase isunrelated to its intrinsic or fundamental value.
What is bitcoin’s intrinsic value? Nobody yet knows. We’re looking at a still young technology that is evolving alongside the demand for it. The technology’s future use cases are still unclear, as is its place in the financial ecosystem. And bitcoin’s unique investment characteristics and unfamiliar metrics make it impossible to apply traditional valuation techniques. Many have opinions as to its fundamental value, but you only need to look at thewiderangeto realize they are based on unestablished theories and untested logic.
So, anyone saying that bitcoin is in a “bubble” is making a judgement call on its intrinsic value. But they never (not that I’ve seen, anyway) share their calculations or even reveal the number that they’re thinking of.
Maybe these analysts and commentators are using the term “bubble” in the social sense?
Economist Robert Schillerdefines a speculative bubbleas a “social epidemic whose contagion is mediated by price movements.” Those of us that spend time on Twitter or YouTube may be nodding in recognition. But Schiller specifies “epidemic” (an unfortunate metaphor in 2020-21), which implies mainstream participation. The cacophony of bitcoin maximalists and altcoin enthusiasts is far from mainstream.
AQR Capital Management co-founder Cliff Asness gets it.In a 2014 paperwritten for the CFA Institute, he said: “The word ‘bubble,’ even if you are not an efficient market fan (if you are, it should never be uttered outside the tub), is very overused.”
Suds aside, he goes on to add: “Whether a particular instance is a bubble will never be objective; we will always have disagreement ex ante and even ex post. But to have content, the term bubble should indicate a pricethat no reasonable future outcome can justify.” (my emphasis)
Most professional investors allocating part of their portfolios to bitcoin are doing so to hedge against the scenario of currency debasement, which seems less and less unreasonable. How do you put a price on that?
What is the “fundamental value” of a good that does not fall in value along with the underlying currency, that does not suffer the consequences of a weak economy, and that cannot be co-opted to provide profit for a select and powerful few? What is the “intrinsic value” of a technology that also allows for the auditable, immutable and censorship-resistant sharing of information? How do you assign a baseline price level to a cryptographic token that embodies all of this, and can also be used as a payment innovation as well as a seizure-resistant emergent store of value?
For bitcoin to be in a bubble, its price movements need to be unrelated to its underlying value. Given the astonishing increase in the global supply of dollars at a time of stagnating demand due to widespread pandemic-induced recessions, and the likely emergence of recovery-fueled inflation which will be difficult to control, it could be argued that bitcoin’s underlying value as a potential offset to the ensuing economic chaos is rapidly increasing. It could be argued that bitcoin’s price movements arecatching upto its underlying value.
It could also be argued that bitcoin is the anti-bubble, that its price is going up because of bubbles elsewhere in the economy. Many investors are buying bitcoin in response to what they see as a massive sovereignbond bubble, which they believe the government will try to deflate by printing money.
And as for equities, the blistering market valuations of tech companies are to a large degree dependent on low interest rates which could head up fast should the bond bubble burst. This would make “alternatives” such as bitcoin even more attractive.
To get a feel for bitcoin’s anti-bubble nature, try to imagine what its “fundamental value” would be if we had central banks that did not print money, governments that kept balanced accounts and no fear at all of MMT, financial repression or any kind of populist uprisings. In this scenario, demand and price would be much lower than they are today.
So, before we accuse bitcoin of being in a bubble, before we imply that its current price in no way reflects its potential utility in a chaotic and increasingly uncertain world, let’s ask ourselves where we think the drivers of bitcoin’s utility are heading.
None of this means that bitcoin’s price won’t fall – it might, and if it does, it might do so quickly. The likelihood of that is for each investor to decide.
It does mean, however, that we need to examine more than just recent price movements. A strong return does not automatically deserve “bubble” designation. Bubbles are not about prices – they’re about price relative to value.
Labels matter, and what’s coming is going to be confusing enough without charged words misrepresenting new concepts.
– Noelle
Wheninstitutional investorspraise the current macro environment as being “perfect” for bitcoin, we listen. After all, low rates, a declining dollar, and inflation fears cause investors to deploy low-yielding cash into higher-yielding assets such as gold and bitcoin.
But do these investors go back to the drawing board when BTC plunges more than 20% just as the 10-year Treasury yield breaches 1%? I’m starting to question if the macro narrative of ongoing Fed support suppressing yields and boosting market speculation still holds.
Just like the Fed, investment managers care more about real yields (adjusted to remove the effects of inflation) rather than nominal yields. The fact that real yields are still negative means the inflation outlook is muted. The Fed will continue monetary easing until it sees a meaningful pickup in growth and inflation, which supports the base case for bitcoin as a speculative asset.
And what about bitcoin as a hedge against inflation?
Some might say there’s no evidence of inflation running wild just yet. But market participants would disagree as they position ahead of economic data. We can see this in breakeven rates (a market-based measure of inflation expectations) which exceeded 2% this week.
(The above chart shows the US 10-year real yield struggling to chase inflation expectations higher, which should keep the Fed active – supporting the macro case for bitcoin. )
To be fair, volatility metrics such as Treasury swaption premiums show no hedging bias for a significant move higher or lower in rates. This means volatility in the rates market remains very low, suggesting that investors are not yet demanding greater reward for rising interest rate (or inflation) risk.
So, where can investors find such a reward? Bitcoin. The cryptocurrency is attracting greater institutional flows because it yields high returns compared to traditional assets. Bitcoin’s high relative return compensates investors for volatility and inflation risk.
As long as the Fed keeps the punchbowl flowing, the speculative quest for high returns will continue. It’s a goldilocks environment for bitcoin as an asset class.
– Damanick
· “We have been watching it for a longish time, and our judgement is that it is a unique beast as an emerging store of value, blending some of the benefits of technology and gold. Yes, it is a seemingly non-sensical asset – but one that makes absolute sense for how we see the world.” – excerpt from a beautifully written and thoughtfulinvestor letter from Jonathan Ruffer, chairman ofRuffer Investment Company
· “Every time a Bitcoin bubble bursts, another grows back to replace it … This very frequency makes the Bitcoin narrative somewhat atypical relative to the great bubbles of the past.” –Man Groupinvestment note
· “In our view, given their high volatility and the size of their past drawdowns, cryptocurrencies might be attractive to speculative investors, but they are neither a suitable alternative to safe-haven assets nor do they necessarily contribute to portfolio diversification.” –strategists atUBS Asset Management
· “I don’t even know enough to say this with confidence, but I will still say that I’m somewhat cynical that someone is going to come up with a really good valuation model for what the right price.” –Cliff Asness, co-founder of AQR Capital Management,in a Bloomberg interview
· Speaking on CNBC’s The Coin Rush on Tuesday, Goldman Sachs’ global head of commodities research,Jeff Currie,said the cryptocurrency market“is becoming more mature” but still has a way to go, and that he thought that approximately 1% of the current bitcoin market cap was attributable to institutional investors.
In hislatest investor memo,Oak Tree Capital founderHoward Marksreveals that his son “thankfully owns a meaningful amount for our family.” He goes on to say: “In the case of cryptocurrencies, I probably allowed my pattern recognition around financial innovation and speculative market behavior – along with my natural conservatism – to produce my skeptical position. … Thus, I’ve concluded (with Andrew’s help) that I’m not yet informed enough to form a firm view on cryptocurrencies. In the spirit of open-mindedness, I’m striving to learn.”
According to sources,Goldman Sachsisconsidering launching a crypto custody service.TAKEAWAY:I remember back in the early days, we used to say that Goldman Sachs getting into the crypto business would be the tipping point for institutions. Years later, even with other significant legacy institutions already offering digital asset services, it would still be a very big deal, as it would be the strongest signal yet that Wall Street is interested. It would also trigger a scramble to catch up from other traditional financial institutions, and would incentivize professional fund managers to at least get better informed.
This week, Reuters reported that the incoming Biden administrationis expected to nameGary Gensler, a Washington and Wall Street veteran who has closely studied the cryptocurrency field, as chairman of the U.S. Securities and Exchange Commission.TAKEAWAY:This is very good news for the crypto industry. Gensler has experience in capital markets, academia and public administration. He served as chairman of the U.S. Commodity Futures Trading Commission (CFTC), as a key financial regulator for former President Obama, and in the Treasury Department during the Clinton administration. More recently, he taught ablockchain and crypto assets courseat MIT, has spoken at several crypto conferences, and evenpenned an op-ed for usin 2019. Gensler sees blockchain as a “catalyst for change,” and seems to have a nuanced understanding of how crypto assets work and the impact they can have on capital markets. This nomination is likely to rekindle the market’s expectation that a bitcoin ETF will get approved this year. (See former CFTC official Jeff Bandman’stake on the reported nomination here.)
Crypto custodianAnchoragehas secured conditional approvalfor a national trust charterfrom the U.S. Office of the Comptroller of the Currency (OCC), making it the first national “digital asset bank” in the U.S.TAKEAWAY:The U.S. now hasthreecrypto-native banks, up from precisely zero just a few months ago (crypto exchangeKrakenwas awarded a special purpose depository institution– SPDI – charter by the state of Wyoming last September, and crypto bankAvantigot one a month later). There are notable differences between the three that are worth pointing out. As a national trust, Anchorage cannot accept deposits, which means that it does not automatically get access to the Fed discount window and payment system. It does, however, make Anchorage a Qualified Custodian under U.S. Securities and Exchange Commission (SEC) rules, and adds another crypto piece to the regulated financial institution puzzle. The more “authorized” financial companies there are in the crypto industry, the greater the level of institutional trust.
New York-based crypto exchangeBakkt, backed by NYSE parent ICE,will become a publicly listed companyvia a merger with a special purpose acquisition company (SPAC) sponsored by Victory Park Capital.TAKEAWAY:The expected valuation is $2.1 billion, for a pre-product, pre-revenue business.According to a presentationby the Bakkt team to the SEC, the firm expects the size of the cryptocurrency market to reach $3 trillion in 2025 – in other words, it will more than triple in five years.
Gemini Trust, the cryptocurrency exchange and custodian founded by twins Tyler and Cameron Winklevoss,could soon go public,according to a Bloomberg report.TAKEAWAY:It looks like 2020 will see a number of crypto market infrastructure companies go public. There’s Bakkt mentioned above, and other rumored possibilities areCoinbase, BlockFi,eToro, and I’m probably missing a couple. This is great news for us analysts, as we’re excited about getting a look at detailed financials for some of the largest platforms in the industry. It’s also good news for the industry, as these listings are likely to attract mainstream investor attention, as well as give investors an alternative path to cryptocurrency exposure.
Over $3 billionflowed into the productsof crypto asset managerGrayscale Investmentsin Q4 2020, according toits latest report(Grayscale is owned by DCG, also the parent of CoinDesk). Over 90% of this came from institutional investors, mainly asset managers.TAKEAWAY:The report also showed that the Q4 inflows accounted for almost 60% of the year’s total, in spite of most of its funds being closed to new investment for the last 10 days of the year, which highlights the acceleration of institutional interest in crypto assets. Furthermore, the weight of institutional inflow in the mix was notably higher in Q4 vs. the year as a whole. Almost 90% of inflows went into the firm’s bitcoin trust GBTC.
Grayscalehasreopened some of the fundsit closed to new investment in December of last year, including the bitcoin trust (GBTC) and the digital large cap fund (GDLC).TAKEAWAY:Since Grayscale was responsible for much of the bitcoin purchases in the fourth quarter last year, the reopening could be taken as good news for the market – a buyer that had temporarily left is coming back in.
A prospectus for a newbitcoin exchange-traded fund(ETF)has been filedby Arxnovum Investments Inc. with the Ontario Securities Commission (OSC) in Canada.TAKEAWAY:With renewed attention on a potential bitcoin ETF approval in the U.S., the OSC’s actions here could set a precedent – a bitcoin ETF trading on a neighbouring stock exchange could kindle the competitive spirit and help the SEC realize that other jurisdictions are leading the way in financial innovation; on the other hand, a rejection by the OSC could send a signal to the SEC that there’s no hurry.
3iq Corp’s bitcoin fund, listed as QBTC.U on the Toronto Stock Exchange,has reached over CA$1 billion(US$785 million) in market capitalization.TAKEAWAY:This level of growth in an exchange-trade fund that was originally listed in Toronto in April of last year, and on the Gibraltar Stock Exchange in September, underscores the demand for listed bitcoin vehicles.
The bitcoin exchange-traded productBTCE, which started trading on Deutsche Börse’s Xetra exchangein June 2020, nowalso trades on Swiss stock exchange SIX.TAKEAWAY:The Financial Timesreported this weekthat, BTCE’s daily trading volumes on Xetra averaged €57 million in the first 11 days of January, up from a daily average in December of €15.5 million, which points to surging demand in Europe for listed bitcoin products. The SIX listing takes the number of ETPs trading on the Swiss exchange up to 34, and, according to the exchange, turnover in cryptocurrency products reached CHF 1.1 billion ($1.24 billion) in 2020. This is still tiny in the overall picture (the exchangereported 2020 turnoverof over CHF 1.7 trillion, or almost $2 trillion), but if BTCE’s trend on Xetra is anything to go by, that figure is likely to substantially higher in 2021.
The number offinancial advisersallocating crypto to client portfoliosreached almost 10%in 2020, an increase of almost 50% compared to 2019.TAKEAWAY:This is according to a recent survey carried out by crypto fund manager Bitwise and financial media site ETF Trends (you cansee the full report on our Research Hub), which got input from almost 1,000 registered financial advisers. 81% of whom reported that they had received a question from a client about crypto in the past 12 months. This highlights the imperative for financial advisers to atleastbe able to answer questions about crypto assets – they are doing a disservice to their clients if they can’t, and dismissing something because it’s not easy to understand goes against the ethics of the profession.
Crypto trading platformCrossTowerislaunching a capital markets deskfor institutional clients.TAKEAWAY:This encapsulates two trends we’ve been seeing build up over the past year: 1) the emergence of institutional-grade crypto market services, which widens choice and deepens the comfort level of institutional investors in the crypto markets, and 2) the bundling of crypto-related services and the gradual consolidation of the industry into a few firms that do many things, prime broker-style. Expanding from its spot exchange and over-the-counter (OTC) trading desk, CrossTower now offers digital asset lending, trade financing, structured products and trade execution across multiple venues.
Digital asset managerNYDIG– which earlier this weekannounced the acquisitionof crypto data firm Digital Assets Data – ispartnering with banking technology provider Movento offer plugins for banks that want to launch bitcoin products.TAKEAWAY:This is yet another indication that traditional financial institutions are gearing up to enter the crypto asset market, either through custody services, trading platforms, payments or a combination thereof. In an online survey of more than 2,000 U.S. consumers shared exclusively with CoinDesk, NYDIG found that 80% of bitcoin holders would move their crypto to a bank if it had secure storage. Of those same holders, 71% would switch their primary bank account if a bank offered bitcoin-related products and 81% would be interested in buying bitcoin through their bank.
Asset management firmArcahasclosed a $10 million Series A roundof funding led by RRE Ventures.TAKEAWAY:Arca is one of the more innovative crypto fund managers in the industry. Not only does it manage its crypto fund, but it is also pushing the envelope in terms of financial products and fund management. In 2019, it filed a prospectus with the Securities and Exchange Commission (SEC) Friday for a bond fundwhose shares would be tokenizedon theethereumblockchain. In 2020, it championed the concept of“tokenholder activism,”pushing decentralized exchange and prediction market platform Gnosis to stick to its original mission or return funds to investors. It will be interesting to see what it does with the funds raised in the latest round.
Thisreport by Bloombergon theArctic’s first bitcoin mining facilitynot only has gorgeous photos; it also reminds us that bitcoin does not just exist in cyberspace, and it is not a pure technology play. It has an industrial side, too.TAKEAWAY:The report also reminds us that theheavy power consumption of bitcoinmining is not an industry-killer, as many early critics insisted it would be.
Speaking of mining, Minnesota-basedCompute Northand New York-basedFoundry Digital(owned by DCG, also the parent of CoinDesk)have partnered to providea “turnkey” hosted mining solution which allows investors to purchase hosted machines through either company.TAKEAWAY:This is a step towards turning bitcoin mining into an investment option with fewer barriers (such as finding a location, buying the machines, etc.). It could also serve as the basis for other types of financial products, such as mining-based collateral and hedging derivatives. Crypto investing is not just about buying an asset and watching the price move.
Babel Financeisletting bitcoin mining firmsput up their machines as loan collateral in exchange for significantly better lending terms than those offered for crypto asset collateral.TAKEAWAY:This offers a glimpse at the growing sophistication of the mining industry in China, and the emergence of leveraged operations. On the one hand, more leverage means more risk. On the other hand, leverage will allow for faster industry growth, which leads to even more secure blockchain networks, which leads to more financial inflows, and so on in a virtuous circle.
The venture arm of U.S. cryptocurrency exchangeCoinbaseparticipated in the seed roundof mining software and services company Titan, which in December announced what will reportedly be thefirst enterprise-grade bitcoin mining poolin North America.TAKEAWAY:This echoes the trend mentioned above of crypto mining facilities being packaged as investment opportunities, and Coinbase’s endorsement of the potential makes it an even more intriguing area to watch.
Las Vegas-based bitcoin mining companyMarathon Patent Group(MARA) has entered into a securities purchase agreement with institutional investors for the registered offering of 12.5 million shares of common stock at $20 per share, toraise $250 million.TAKEAWAY:CEO Merrick Okamoto told CoinDesk in an email he intends to use the funds to, among other things, purchase more mining machines and expand facilities amid the ongoing “arms race” as manufacturers struggle to keep pace with demand. The increased activity in “mining as a business” is largely attributable to the rising bitcoin price, which directly affects mining profitability. It also has to do with the growing sophistication we mentioned above, with advances in mining technology that are impacting the economics, and with the growing global competition, which is good for the industry as a whole.
Panama-based crypto derivatives exchangeDeribit, the largest options exchange in the industry,has already recorded approximately25% of last year’s entire bitcoin options trading volume.TAKEAWAY:This is astonishing growth that underlines the market’s growing maturity. The growth is not limited to Deribit, although it is consolidating its position as segment leader. Open interest (OI) across all crypto options exchanges has exploded from just over $520 million a year ago (16% of the OI of bitcoin futures) to over $8.3 billion (66%of the OI of bitcoin futures!) today.
Bitcoin minersselling their holdings is often used to explain market dips, and this weekwas no different– but thedata doesn’t support that theory.TAKEAWAY:The transparency of on-chain data allows us to track outflows from known bitcoin miner addresses to known exchange addresses. This shows that miner outflows to exchanges have been trending down. True, this doesn’t catch off-exchange activity, and the overall balance at mining addresses is down to early 2020 levels, according to the data. But accounts from mining pools support the conclusion that miners are more likely to be selling fewer BTC into the rally, rather than dumping and causing the price to fall.
• Crypto Long & Short: No, Bitcoin Is Not in a Bubble
• Crypto Long & Short: No, Bitcoin Is Not in a Bubble || GBP/USD Daily Forecast Resistance At 1.3745 In Sight: GBP/USD Video 25.01.21. British Pound Moves Higher At The Start Of The Week GBP/USD managed to get above the resistance at 1.3710 and is moving towards the next resistance level at 1.3745 while the U.S. dollar is losing ground against a broad basket of currencies. The U.S. Dollar Index faced resistance at the 20 EMA at 90.30 and is moving towards the support at the 90 level. If the U.S. Dollar Index manages to settle below the support at 90, it will gain additional downside momentum and head towards the next support level at 89.75 which will be bullish for GBP/USD. On Friday, UK reported that Manufacturing PMI declined from 57.5 in December to 52.9 in January while Services PMI decreased from 49.4 to 38.8. Numbers below 50 show contraction. Meanwhile, Retail Sales grew by 0.3% month-over-month in December compared to the analyst consensus which called for growth of 1.2%. The reports indicated that the countrys problems on the coronavirus front have put significant pressure on the services segment while the consumer activity has started to slow down. There are no important economic reports scheduled to be released today in the U.S. and UK, so foreign exchange market traders will focus on coronavirus-related news and Bidens stimulus plan. Technical Analysis GBP/USD gained upside momentum and is trying to get to the test of the resistance level at 1.3745. If GBP/USD manages to settle above this level, it will head towards the next resistance at 1.3785. A move above the resistance at 1.3785 will push GBP/USD towards the next resistance at 1.3800. It should be noted that GBP/USD has not visited this territory for several years so it remains to be seen whether previous levels will be relevant for todays trading. On the support side, a move below 1.3710 will open the way to the test of the support at 1.3665. In case GBP/USD declines below the support at 1.3665, it will head towards the next support level at 1.3625. A successful test of the support at 1.3625 will open the way to the test of the next support level at 1.3575. Story continues For a look at all of todays economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin and Ethereum Weekly Technical Analysis January 25th, 2021 Apple to Report All-Time Record Quarterly Revenue and Earnings: Morgan Stanley Ethereum, Litecoin, and Ripples XRP Daily Tech Analysis January 25th, 2021 The Crypto Daily Movers and Shakers January 25th, 2021 EUR/USD Daily Forecast Euro Is Flat Against U.S. Dollar At The Start Of The Week Oil Prices Vulnerable to Deeper Corrections amid Expansive Fiscal Approach || Xalles Holdings Expands Cryptocurrency Strategy With Vigor Crypto: Vigor Crypto Labs set up to formalize the testing of the trading strategies in preparation for B2B commercialization WASHINGTON, DC, Feb. 11, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Xalles Holdings Inc. (OTC: XALL), a fintech holding company providing technology and financial services solutions, announces strategic initiatives to capitalize on the growing digital asset and cryptocurrency market. The total value of all cryptocurrencies passed $1 trillion in January 2021 to over $1.3 trillion as of February 2021 with little sign of slowing down, per CoinGeckos index of 6,124 assets. The growth has primarily been driven by institutions purchasing Bitcoin on the open market including corporations such as MicroStrategy and Tesla, which both announced direct purchases of Bitcoin exceeding billions of dollars in current value. Earlier this week, Tesla announced it will also be accepting Bitcoin for payment. Last month, Xalles Holdings completed the acquisition of Vigor Crypto Holdings. Vigor Crypto is preparing to commercialize a business to business offering that utilizes Vigors intellectual property and trading engines. Vigor Crypto Labs was formed as an arm of Vigor Crypto that performs the research and testing functions to ensure a quality service offering when launched. Over the past 60 days, Vigor Crypto Labs has executed over 4,000 profitable trades in two pairs (BTC/USD and LINK/USD) with a return on investment exceeding 50% in captured trading profits. At the current trajectory, it anticipates over 100% in gains by the end of the first quarter. As the trading performance continues to yield incremental growth, Vigor Crypto intends to capitalize on its successes partnering with institution cryptocurrency trading firms for licensing and white labeling opportunities. In addition to a B2B approach, Vigor Crypto is working with institutional representatives at Coinbase Pro and Binance.us to guide clients and prospects through the corporate approval process, which can be a long complex process. Vigor Crypto is applying for a corporate account with Binance.us to expand trading pairs opportunities and reduce trading fees. Story continues Vigor Crypto enables the Xalles corporate strategy of gradually acquiring key cryptocurrencies, including Bitcoin, in long term hold positions, largely funded through the short-term trading profits. About Xalles Holdings Inc. (OTC: XALL) Xalles Holdings Inc. is a holding company that focuses on direct investments in disruptive fintech companies. The company actively seeks acquisition targets in which it can invest and accelerate growth, targeting companies with solid management teams and business models, large total attainable markets (TAM), and lucrative exit opportunities. The company places emphasis on leveraging blockchain technologies to provide industry-leading financial reconciliation and auditing solutions, which, over time, will allow for the capture of recurring revenue streams. For more information visit: Xalles.com About Vigor Crypto Holdings LLC Vigor Crypto Holdings is a boutique trading firm that utilizes proprietary trading engines powered by partner, ATN Trading. Vigor Crypto is a wholly owned subsidiary of Xalles Capital Inc. Vigor Crypto Labs is a business unit of Vigor Crypto that performs research and tests trading pairs in real time to identify the most profitable trading scenarios under a variety of market conditions. Forward-Looking Statements Disclaimer: 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. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov and in OTC Markets at www.otcmarkets.com Investor Relations Contact: Info@Xalles.com www.Xalles.com 202.595.1299 Office || Solar ETF Lights Up as Georgias Senate Race Fuels Green Energy Outlook: This article was originally published on ETFTrends.com. Solar stocks and sector-related exchange traded fund surged Wednesday on bets that the Democrat sweep in the Georgia Senate runoff election could help promote more aggressive green spending. The Invesco Solar ETF (NYSEArca: TAN) was among the best performing non-leveraged ETFs of Wednesday, rising 9.8%. Election results in Georgia showed Democrat Raphael Warnock taking over incumbent Republican Kelly Loeffler for one of Georgia's U.S. Senate seats. In Georgia's other U.S. Senate runoff, Democrat Jon Ossoff was also leading Republican David Perdue by a narrow margin, but the tally has yet to be finalized. Clean-power policies are far more popular than Republican Senate leadership are willing to admit, so a Democratic win in Georgia could pave the way for Biden to aggressively push for a clean-energy package, Katie Bays, managing director at FiscalNote Markets, a policy consulting company, told Bloomberg . Green Spending President-elect Joe Biden previously proposed a $2 trillion green spending plan as part of his climate agenda to achieve a carbon-free power sector by 2035. Two lobbying groups that represent the power sector and the automobile sector are already grouping up to make sure they help guide Biden's green direction, the Washington Post reports. Market observers are also growing more bullish on the rising green sector as a more climate-friendly President comes to office. JP Morgan analyst Paul Coster said in the company's December Alternative Energy Outlook that "the falling cost per watt of renewable energy
positions wind and solar as the lowest-cost source of energy in approximately 70% of the world (BNEF estimate)," Business Insider reports. "As low-cost batteries layer into the utility-scale wind and solar, we look to zero-carbon electricity to be competitive with fossil fuels as both energy and dispatchable capacity," Coster added. Story continues For more information on the renewables space, visit our renewable energy category . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs Small-Cap, Value ETFs Rally on More Stimulus Bets Stock ETFs Relinquish Gains Amid Capitol Protest And Lockdown Bitcoin ETF Back In Play As The Crypto Continues To Surge Stock ETFs Rally For Second Day Amid Runoff Results A TIP for Bond ETF Investors Worrying About Inflation READ MORE AT ETFTRENDS.COM > || Is a Surprise Coming for Arbutus Biopharma (ABUS) This Earnings Season?: Investors are always looking for stocks that are poised to beat at earnings season andArbutus Biopharma CorporationABUS 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 Arbutus Biopharma 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 ABUS in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at a loss of 22 cents per share for ABUS, compared to a broader Zacks Consensus Estimate of a loss of 23 cents per share. This suggests that analysts have very recently bumped up their estimates for ABUS, giving the stock a Zacks Earnings ESP of +2.22% heading into earnings season.
Arbutus Biopharma Corporation price-eps-surprise | Arbutus Biopharma Corporation 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 ABUS 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 Arbutus Biopharma, 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 reportArbutus Biopharma Corporation (ABUS) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || US Stock Market Overview – Stock Rise Despite Weak Jobs Data: US stocks moved higher on Friday, and yields continued to surge despite a weaker than expected U.S. jobs report. Most sectors in the S&P 500 index were mixed, led by gains in Real-estate, the Energy sector bucked the trend. Energy shares declined despite a nearly 3% rally in crude oil prices. For the week crude oil increased by nearly 8%. The House is poised to impeach President Trump following his push for insurance on the capital on Wednesday.
Markets will remain focused on the prospect of more fiscal stimulus as the January 20 inauguration of President-elect Joe Biden gets closer. President Trump said he would not attend President-elect Biden’s inauguration, but while Vice President Pense was invited. The dollar continued to move higher, while gold moved lower and Bitcoin continues to rise.
The Labor Department reported that nonfarm payrolls fell by 140,000. That was below expectations for 50,000 increase. It was the first monthly drop since April. The unemployment rate was unchanged at 6.7%, compared to a 6.8% estimate. An alternative unemployment measure that includes discouraged workers and those holding part-time jobs for economic reasons declined to 11.7% from 12%. The biggest hit has come in the hospitality industry, where hotels, restaurants and bars suffered under the yoke of restrictions that limited travel, dining, and drinking. December’s job tally showed the impact has intensified. The hospitality industry saw a plunge of 498,000 positions for the month, with most coming in restaurants and bars.
President-elect Joe Biden will ask Congress to immediately cancel $10,000 in student debt for all borrowers and extend the payment pause scheduled to lapse this month. The $900 billion pandemic aid package passed in December didn’t include an extension of the payment pause for student loan borrowers.
Thisarticlewas originally posted on FX Empire
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• EUR/USD Mid-Session Technical Analysis for January 8, 2021
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 48912.38, 51206.69, 52246.52, 54824.12, 56008.55, 57805.12, 57332.09, 61243.09, 59302.32, 55907.20
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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 2015-06-26]
BTC Price: 243.59, BTC RSI: 57.02
Gold Price: 1172.90, Gold RSI: 43.22
Oil Price: 59.63, Oil RSI: 50.48
[Random Sample of News (last 60 days)]
Dutch Bank Issues Europe's First Certified Climate Bond: ABN AMRO Bank N.V., a bank based in the Netherlands,issuedthe eurozone's first ever green bond on Wednesday, shortly after the Climate Bonds Standard for Low Carbon Buildings was unveiled at an investor meeting in London.
The bond represents what many hope will be a growing push to lower carbon emissions throughout Europe and is expected to be the first of many bonds issued with this certification.
High Demand
Investor interest in the bond caused ABN AMRO to upsize the bond deal from €350 million to €500 million ($556 million USD), making it the largest Certified Climate Bond to have been issued to date.
In late May,Australia and New Zealand Banking (ADR)(OTC:ANZBY) issued its own Certified Climate Bond for A$600 million ($464 million USD). Both bonds were well received by all types of investors, though dedicated green investors made up the majority of the interested parties.
Related Link: Is Bitcoin Bad For The Environment?
What Does It Mean?
A Certified Climate Bond means that the bond has been evaluated by an approved verifying party that ensures that the proceeds of the bond are used to further the development of low carbon buildings.
This week at the RI Europe 2015 in London, the standards dictating what projects would qualify for use of Certified Climate Bond funds were unveiled.
They included new rules regarding carbon standards for commercial and residential buildings as well as upgrade projects.
Interest To Continue
Both ANZBY and ABN AMRO saw investors oversubscribing for their green bonds, suggesting that there is a massive market for environmentally conscious investment options.
Many expect that the growing number of green investors will prompt more banks to roll out their own Certified Climate Bonds and help push forward the initiative for sustainable construction.
Image Credit: Public Domain
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Your first trade for Thursday: The "Fast Money" traders gave their final trades of the day.
Pete Najarian was a buyer of RAI(NYSE:RAI-News).
Dan Nathan said he was watching FDX(NYSE:FDX-News).
Brian Kelly was a buyer of CRM(NYSE:CRM-News).
Guy Adami was a buyer of PFPT(NASDAQ:PFPT-News).
Trader disclosure: On June 17, 2015, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Pete Najarian is longAMAT, AAPL, BABA, BAC, BMY, BP, CSX, DISCA, DKS, FOXA, GE, KKR, KO, LLY, MRK, PEP, PFE, TEVA, he is long calls AAL, ABX, BAC, BBY, BMY, C, CAH, COP, CSX, DAL, DE, ETFC, FCAU, GE, GS, INTC, INVN, JPM, LEN, MT, MU, NUAN, OC, PFE, RAD, RAI, S, SXC, SYY, UAL, USB, VOYA, VZ, WSM, XLF, ZIOP. Today he bought RAI calls, today he sold WFM calls. Dan Nathan is long CAT July/August put spread, SPY June put fly, TWTR, BBRY June calls, SO, DE June put fly, INTC July put, WMT June Call Fly, LVS July Aug Put Spread, TWTR SEPT call spread, GRRO June Put Fly, MSFT July call butterfly, he is short SO Aug call. Brian Kelly is long BABA, BBRY, BTC=, EEM, Euro, TAN, TSL; he is short Dollar and Yuan. Today he sold DXGE and U.S. Dollar. Today he closed out of short Australian Dollar, short Canadian Dollar, short Euro, and short Yen. Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.
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• CNBC.com Earnings Central || Your first trade for Monday: The " Fast Money " traders closed the show with their first ideas for Monday. Tim Seymour was a buyer of CLF ( CLF ) . Steve Grasso was a buyer of BAC ( BAC ) . Brian Kelly was a seller of the XLU (NYSE Arca: XLE) . Guy Adami was a buyer of MET ( MET ) . Trader disclosure: On May 1, 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 T, BAC, DIS, EUO, F, GE, GM, GOOGL, INTC, SUNE, Tim's firm is long BABA, AAPL, CLF, MCD, NKE, NOK, SBUX, YHOO. Steve Grasso is long AAPL, BAC, BTU, DD, EVGN, MJNA, PFE, T, TWTR, GDX, his firm is long TWTR, WYNN, AMZN, AMD, FCX, OXY, RIG, NE, TSE, VALE his kids own EFG, EFA, EWJ, IJR, SPY. Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. Brian Kelly is long BTC=, BBRY, SPY puts, U.S. Dollar, he is short Australian Dollar, he is short Yen, he is short Yuan. Today he sold Crude Oil, GLD, GSG, and covered his 30-year bond short position. More From CNBC Top News and Analysis Latest News Video Personal Finance || Greece Isn't The Only Flight Risk For The Eurozone: Greece's financial woes have raised questions over whether or not the eurozone should be preparing for the nation to exit the currency union. However, although Greece has been in the spotlight for the better part of three months, it isn't the only nation the European Union stands to lose in the coming year. The UK is about to hold its general election next month; the outcome of which could result in a referendum on Great Britain's relationship with the EU. Referendum On Membership Conservative Prime Minister David Cameron has promised to renegotiate Britain's relationship with the EU if he and his party are re-elected. He vowed to give the population a chance to weigh in with a referendum vote in the coming year. However, if Cameron is defeated by his Labour Party counterpart Ed Miliband, the referendum is unlikely. Coalition Likely At the moment, polls show that the two parties have relatively equal support, which most expect means the vote will end with some sort of coalition government taking power. However, if the Conservative party is included in the coalition, a referendum vote is likely to remain on the table. Related Link: Greece's Finance Minister Quotes Roosevelt To Express His Frustration HSBC Warns On Referendum Last week, British bank HSBC Holdings plc (NYSE: HSBC ) voiced its concerns about a referendum on the UK's membership in the EU, saying that economic risks could be disastrous if the region decided to leave the EU. The bank said it was evaluating the possibility of moving its headquarters out of London due to the structural reforms banks have had to face since the financial crisis and warned that whether or not Great Britain remained in the EU would play into its decision making. See more from Benzinga Bitcoin Wallet Circle Rumored To Be Raising Million Marijuana Industry Blazes The Path For A New Kind Of Lawyer Facebook Looking To Take Over Your Life With Messenger © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || New York regulator issues final virtual currency rules: By Karen Freifeld and Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - New York state issued on Wednesday extensive new rules for companies that operate in virtual currencies such as bitcoin but did little to accommodate complaints that overly tight regulation could hamper the nascent industry. The new rules, the first by a state, create comprehensive guidelines for regulating digital currency firms, according to the state's Department of Financial Services, which developed the regulations. It means that digital currency companies operating in New York state that hold customer funds and exchange virtual currencies for dollars or other currencies are required to apply for what is known as a state "BitLicense." "There is a basic bargain that when a financial company is entrusted with safeguarding customer funds and receives a license from the state to do so, it accepts the need for heightened regulatory scrutiny to help ensure that a consumer's money does not just disappear into a black hole," Benjamin Lawsky, superintendent of the New York state regulator, said in a speech Wednesday at the BITS Emerging Payments Forum in Washington. The "BitLicense" rules include consumer protection, anti-money laundering and cybersecurity protections. The regulations come as digital currencies have drawn criticism for attracting drug dealers and other criminal elements, while failing to safeguarding consumer funds. Last year, bitcoin exchange Mt. Gox collapsed after it claimed to have lost $500 million worth of customer bitcoins after being hacked. Overall, industry participants said New York's new rules are still problematic but nonetheless an improvement over the original proposals laid out in July and revised in December. Digital currency companies are required to obtain prior approval for material changes to their products or business models, such as wallet firms offering exchange services. They would also need approval for new controlling investors. Story continues But they would not need approval from the state for every round of venture capital funding or standard software updates. "We have no interest in micro-managing minor app updates. We're not Apple," said Lawsky. Companies that want both a BitLicense and a money transmitter license can work with the state regulator to have a "one-stop" application submission to cover the requirements for both. Jerry Brito, executive director of non-profit research group Coin Center, called the final regulations "far from perfect," specifically citing what he said were vague state-level anti-money laundering obligations that go beyond federal regulations. He said the group was working with other states "to ensure they do not repeat the mistakes made here." The rules do not apply to software developers, individual users, customer loyalty programs, gift cards, currency miners, or merchants accepting bitcoin as payment. Lawsky, meanwhile, has come under fire from the bitcoin community for issuing the rules shortly after announcing he was leaving the agency to set up a consulting company that will advise companies on financial matters that could possibly include digital currencies. The most prominent virtual currency now is bitcoin, often used as an investment or to pay for goods and services online. Bitcoin prices have been steady of late, at $225.77 on the BitStamp platform on Wednesday. The price rose as high as $1,123 in December 2013. "I think (the rules) are going to increase the costs to entry for businesses," said New York attorney Reuben Grinberg, who specializes in virtual currency. "But I think it's going to give consumers greater peace of mind and will end up promoting investment in this area much more so than it hurts." (Reporting by Gertrude Chavez-Dreyfuss and Karen Freifeld; Editing by Chizu Nomiyama and Steve Orlofsky) || Edible Marijuana Products Get The 'Okay' In Canada: In 2009, a Canadian baker named Owen Smith was charged with trafficking and unlawful possession of marijuana for using cannabis oil to bake pot cookies.
Smith was later acquitted, but a larger question loomed as to whether or not dispensaries in Canada should allow medical marijuana to be delivered in ways other than smoking.
Edibles Allowed
Six years later, Canada's Supreme Court hasruledthat medical marijuana can come in all forms, including cannabis oil which can be baked into food products. The ruling reflects the changing culture of marijuana use, which has shifted from a focus on smoking to ingesting, which is considered "healthier."
Encouraging Growth In Edibles Market
The ruling in Canada is likely to spur on the blossoming edibles market, which has taken off in U.S. states like Colorado, where recreational marijuana use is legal. Now, medical marijuana patients suffering from conditions like epilepsy and HIV will have access to everything from pot-laced brownies to marijuana-infused tea.
Related Link:Marijuana's Tax Problem
Still Safety Concerns
While the Canadian Supreme Court's decision is intended to protect patients who use the drug to manage their symptoms, many worry that the growing edibles market is becoming increasingly dangerous.
Although strict regulations typically require marijuana-laced products to include clear warning labels and child-proof packaging, the number of accidental marijuana exposures in young children has been on the rise.
Not only are children being rushed to the emergency room after unknowingly consuming a THC-laced treat, but some say adults are also at risk. Because ingesting marijuana as a food product can sometimes delay the effects, people are more likely to overdose from having too many servings.
See more from Benzinga
• Google Takes To The Streets To Solve Cities' Problems
• Could Bitcoin Save Athens?
• Net Neutrality Rules Go Into Effect Today: Here's How It Could Affect You
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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) || 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 atwww.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 Corp838 West Hastings Street, Suite 300Vancouver, BC V6C-0A6CanadaTel: +1(604) 200-0071Fax: +1(604) 200-0072www.bitxfin.com
Media inquiries:
Bit-X Financial Corppress@bitxfin.com
SOURCE:Bit-X Financial Corp || Banx Capital Joins the BitShares Exchange Network: LEICESTERSHIRE, UK / ACCESSWIRE / June 23, 2015 / Banx Capital announced today it is joining the BitShares Exchange Network when BitShares 2.0 is released this summer. "It just made too much business sense," said Banx CEO Mark Lyford, "What a way to cut costs, expand our available services and multiply our network effect!" About a year ago Banx began launching a whole portfolio of cryptocurrency businesses including a crypto currency exchange, a mining company, a trading company, a physical coin company and a half dozen other enterprises intended to span the industry. Banx put its own shares up for trading by qualified investors on what quickly became a top ten crypto-currency in its own right. You probably know it already as BanxShares on coinmarketcap.com. "I've been watching BitShares for over a year now," he confided. "But when I got a preview of what Cryptonomex.com had in store with BitShares 2.0 I knew I had to move fast. As a result of some pretty aggressive negotiations, both BanxShares and Banx.io will upgrade simultaneously when BitShares 2.0 launches this summer. I consider that a bit of a personal coup." What made him move so fast? "I can smell a revolution coming," said Lyford. "I want to be riding that wave when it hits the shore, not sitting on the beach." He went on to explain the nature of that revolution. "Everybody knows the limitations of current exchanges. Despite their best intentions, people aren't sure if exchanges can be trusted any more. Some of the biggest have been hacked and the rest are looking over their shoulders. We can hire the best cryptogeeks on the planet and they still can't promise we are safe. On top of that, users really have no way of knowing whether an exchange is solvent. Cypto currencies are supposed to be super-secure, but the exchanges are the weak link. This is going to kill the whole industry if we don't get it fixed quick." "BitShares has been claiming that they have solved these problems by offering a decentralized exchange on a blockchain since last summer. Incorruptible. Unhackable. Transparent. That's all quite impressive, but it just made them another one of my worries as a future competitor." Story continues Leaning forward as if to tell me a secret, Lyford went on, "But that wasn't their killer business model at all! Sure, they are a stand-alone decentralized exchange on a blockchain that you can interact with from your own wallet just like Bitcoin, but that was just their prototype demo. This year they are upgrading to an industrial strength platform that can handle every transaction in the whole crypto industry with enough bandwidth left over to host everything Visa is doing as well! And their transactions verify in 1 second not 1 hour." Why do they need that kind of bandwidth? "Because they are offering their 'Smartchain' as a safe, level playing field for use by the whole industry. It can serve as backbone network to all the exchanges as a way for them to trade with and against each other. Instead of keeping their order books in a dark, closed, isolated, hackable stovepipe, they can put them all out there in the transparent open where all their combined customers can trade against all their combined assets!" He sat back as if he had just explained The Universe and Everything. "Don't you see," he went on, "With shared order books we have deeper markets, tighter spreads, and greater liquidity. And since our customers keep their own keys while trading on this network we can't get hacked! Not only that, with BitShares easy to use hierarchical multi-sig capabilities, even our customers can't get hacked." But what exchange would want to give up its customers to some global pool? "That's the thing that clinched the deal," he smiled. "With the BitShares referral program we keep our customers and our share of their fees. So there was really nothing to lose and everything to gain. I get the benefits of selling other member's products and services to my customers while outsourcing most of the costs and risks of this business. That lets me concentrate on what I do best – developing new innovations, recruiting more customers and keeping them happy." Then he paused for a moment, as if to shift gears. "But that's just what's in it for Banx.io. The key is what all customers will be demanding a year from now once they get a taste of the new levels of transparency and safety and the quality and variety of services our networked exchanges can offer together. Banx.io along with CCEDK, Bit-X, Cryptonomex.com (and maybe a few more) are just the network's Founding Members. We expect a lot of smaller exchanges to use this as a way to become big exchanges in the coming year." Leaning back in his chair he grinned again, "Like I said, I'd rather be riding the tsunami than sitting on the beach." Contact Banx Capital Ltd: Zoe Hart (+44) 01530 215015 zoe@banxcapital.com Marketing Dept First Floor, 81 Market Street Ashby De La Zouch Leicestershire, LE65 1AH United Kingdom SOURCE: Banx Capital Ltd || 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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• Delivery Services Deal With Growing Volume
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
Keberangkatan besok, 3 MEI 2015.
Depan UNPAD DU: Pukul 03.00 WIB
Depan BTC Pasteur: sekitar pukul 03.15 WIB.
Harap ON TIME yaa. || [Bitcoin] Bitcoin and United States Dollar: 0.0100 BTC = 2.37 USD
1.00 USD = 0.0042 BTCConverter #YAF || #Bitcoin last trade
@bleutrade $227.00
@btcecom $237.12
@cryptsy $236.00
Set #crypto #price #alerts at http://AlertCo.in || $248.48 #btce;
$248.00 #bitstamp;
Instantly buy GH/s with BTC: http://bit.ly/LN53k1
#bitcoin #btc || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000004
Bittrex: 0.00000005
Average $9.0E-6 per #reddcoin
00:30:01 || BTCTurk 673 TL BTCe 244.99 $ CampBx $ BitStamp 247.00 $ Cavirtex 303.84 $ CEXIO 239 $ Bitcoin.de 219.12 € #Bitcoin #btc || current #bitcoin price (winkdex) is $238.64, last changed Thu, 30 Apr 2015 22:10:00 GMT. queried at: 22:13:06 || LIVE: Profit = $823.58 (21.58 %). BUY B15.79 @ $240.50 (#BitStamp). SELL @ $246.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org || 1 #BTC (#Bitcoin) quotes:
$244.72/$245.74 #Bitstamp
$244.55/$245.00 #BTCe
⇢$-1.19/$0.28
$246.44/$246.55 #Coinbase
⇢$0.70/$1.83 || In the last 10 mins, there were arb opps spanning 20 exchange pair(s), yielding profits ranging between $0.00 and $1,539.40 #bitcoin #btc
|
Trend: up || Prices: 250.99, 249.01, 257.06, 263.07, 258.62, 255.41, 256.34, 260.89, 271.91, 269.03
|
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 2016-12-05]
BTC Price: 758.70, BTC RSI: 59.08
Gold Price: 1174.00, Gold RSI: 28.48
Oil Price: 51.79, Oil RSI: 64.41
[Random Sample of News (last 60 days)]
Here's what a Trump presidency means for the payments industry: (BII)This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, pleaseclick here.
After Donald Trump unexpectedly clinched the US presidency earlyWednesday, the uncertainty rippling through the world could extend to the payments industry in a few key ways.
A Trump presidency could limit one of US remittance firms’ largest drivers of business.
• Trump at one point threatened to cut off remittance send from the US to Mexico.Back in April, theWashington Postreceived a memo regarding Trump’s plans to fund his proposed 1,000-mile border wall between the US and Mexico. In the memo, Trump noted that he planned to force Mexico to pay for the wall by invoking the US Patriot Act to cut off portions of the flow of money between the US and Mexico until Mexico made a one-time $5 billion-$10 billion payment. That monetary flow would likely include remittances.
• That could drastically curtail the operations of US remittance firms.Mexico is the largest receive destination for US remittances, cashing $25 billion in 2015, according to theWorld Bank. The strength of that corridor is pushing firms to double down on Mexico — for instance, Western Union recently nearly doubled the size of its retail network in the country, and MoneyGram unveiled a product in partnership with Walmart to make it easier and less expensive to send money from the US to Mexico. Cutting off access to the corridor, even temporarily, could drastically change the trajectory for these companies.
Trump's victory could also impact two key categories of transaction volume.
• Domestic spend:The election's results will likely bring about economic uncertainty to US markets, which could affect how businesses and consumers spend. An increase in economic uncertainty is often accompanied by a decrease in consumer confidence. This, in turn, may lead to businesses and citizens mitigating any risk of a potential economic downturn by implementing safeguards such as hiring freezes or holding more in savings rather than spending. A reduction in spending would likely have a negative impact on sales for all the major players in the payments ecosystem, including but not limited to credit card companies,payment gateways, retailers, and even banks.
• Cross-border spend:Throughout his candidacy, Trump emphasized bringing manufacturing back to America, specifically taking aim at firms like Apple to build its products in the US rather than China. If Donald Trump pushes isolationist trade policies and issues tougher manufacturing restrictions, there could be a huge shift in how both consumers and businesses make international transactions. There would likely be a major decrease in international spending as more consumers are either unable to make transactions due to restrictions or unwilling to pay any extra fees.
Regardless of how Trump's presidency unfolds, the payments ecosystem will continue to grow and change.
Evan Bakker and John Heggestuen, senior analysts atBI Intelligence, have 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
• You won’t recognize the new world of digital payments without this report
• THE CONNECTED DEVICE PAYMENTS REPORT: Market opportunities, top stakeholders, and new use cases for the next frontier in payments
• Future of Payments: Four Trends to Know in Payment Processing || The Dark Web: Brought to You by U.S. Taxpayers: Beneath the internet you use every day lies a hidden network of thousands of encrypted sites known as the Dark Web.
Unlike the so-calledclearnet– where everything is open, indexed and searchable – thedarknetoffers anonymous access to information, products and services of all kinds, legal and illegal. Illicit drugs, creative chemists, child pornography and hacked personal information are all readily available, if you know where to look.
The software primarily used for encrypting, hosting and browsingDark Web sites is known as TororThe Onion Router, named for its sites’ .onion suffix. But here’s the thing. The tools were originally developed by the U.S. Naval Research Laboratory (NRL) and DARPA, the advanced research arm of the Department of Defense (DOD). And to this day,Tor is largely funded by the U.S. Government.
I’ll pause for a second to let that sink in.
If you’ve had lingering doubts about the good guys and the bad guys being two sides of the same coin, you can finally put them to rest. Inonionland, crime and punishment don’t just go hand-in-hand. They operate side-by-side. They’re next-door neighbors. Frenemies.
I guess the spooks wanted a way to gather intelligence, track evil doers, and communicate with each other, confidential sources, whistleblowers and dissidents, without leaving an online trail of IP addresses. So in the mid-to-late 90s, they came up with what later became known as Tor, akathe anonymity network.
Wait, the story gets better.
Aside from the scientists, developers, researchers and project managers who handle the technical side of Tor’s suite of software tools, the 501(c)(3) nonprofit is essentially run by Shari Steele, a civil rights attorney and long-time head and legal director of theElectronic Frontier Foundation or EFF.
The EFF is an online civil liberties advocate – essentially a digital version of the American Civil Liberties Union (ACLU). The organization, also a 501(c)(3) NPO, has been involved in a long list of lawsuitsagainstfederal law enforcement agencies. Steele and the EFF have been responsible for spearheading and funding Tor since the NRL set the code free in 2004.
ICYMI, the EFF was recently involved in a scuffle withT-Mobile’s free-wheeling CEO, John Legere, claiming the carrier’s unlimited data plan violates net neutrality rules because it offers unlimited streaming of standard quality video and charges $25 more for high-def. Sounds like nitpicking to me, but I guess that’s what activists do.
Steele, incidentally, is married to Bill Vass, engineering veep of Amazon Web Services. Before joining Amazon and running a robotics company, Vass spent much of his career as a senior IT executive with the U.S. Army, the DOD and Sun Microsystems, where he was CIO and oversaw the company’s federal government operation. Strange bedfellows, if you ask me.
Tor bills itself as the best thing since the First and Fourth Amendments, protecting anyone and everyone’s right to online privacy and freedom from prying eyes, web crawlers, IP trackers, search engines, site indexers, trolls and the like. That goes for evil-doers and do-gooders alike.
Whether you’re in the market for protected animals, selling hacked bank account data, peddling the latest designer drug, trying to build a bomb without blowing yourself up, searching for a hitman, a journalist trying to dig up dirt for a hit piece, or men in black, blue or camo, Tor’s Windows, Mac OS, Linux and Android-compatiblehidden servicescan help you do your dirty deeds on the sly.
Keep in mind, .onion marketplaces probably don’t take Visa, MasterCardorAmerican Express. Bitcoin is the currency of choice on the dark side of cyberspace.
The Dark Web is not all dark intentions run amuck, mind you. A new report byventure-backed security firm Terbium Labsfound that just over half the content on a random sampling of 400 of the more than 7,000 Tor sites was legitimate.
There are blogs, chat rooms and political forums free of censorship, political correctness and prying eyes. Facebook maintains a presence there for users living under repressive regimes that limit web access. And some people just don’t like the idea of their online activity being tracked.Google definitely gives me the creeps, that’s for sure.
The FBI has cleaned up a few sites, shutting down at least the first two versions of the infamous Silk Road black market. And while Tor may be the easiest way to get around the Dark Web, it’s certainly not the only way (not that I know anything about that sort of thing). As Tor becomes more mainstream, dark forces will inevitably migrate to shadier networks.
Of all the bizarre and unlikely interactions in the Tor saga, the one that surprises me the least is that you and I paid for it.
Shari Steele or representatives from the Tor Project could not immediately be reached for comment.
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• Yum unit Taco Bell to have 9,000 U.S. outlets by end-2022 || 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) || Traders weigh opportunity in Deutsche Bank as European banks gain: The " Fast Money " traders debated whether it's time to buy Deutsche Bank (XETRA:DBK-DE) after the European banks (Mexico Stock Exchange: SX7P-MX) saw their best weekly performance in a month . Trader Karen Finerman said "the leverage and potential volatility in [Deutsche Bank] is enormous." She said she bought some call options in the stock. Trader Steve Grasso agreed and said he was tempted to buy the stock on Friday. Grasso said he feels Deutsche will be able to resolve its issues and that he sees positive headlines for the bank rolling in. Trader Guy Adami wasn't confident that was the case. He said the $14-billion opening position levied by the Justice Department in September came well after the stock had begun to decline. U.S.-listed shares of Deutsche have declined more than 52 percent in the past year. Disclosures: STEVE GRASSO Grasso is long: BA, CC, CHK, EVGN, KBH, MJNA, MON, MU, OLN, PFE, PHM, T, TWTR, GDX. Grasso's children own: EFA, EFG, EWJ, IJR, SPY NO SHORTS. His 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, VALE, WDR, WYNN, ZNGA, CUBA, HSPO, ICE, AMZN, MJNA, TITXF, NXTD, SPY, QQQ, DIA, XLI, BGCP, VIRT, JCP, GE, AIR, FP BRIAN KELLY Brian Kelly is long Bitcoin, CME, DXJ, GDX, KBE, SLV, US Dollar UUP. He is short the euro and Japanese yen. 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. 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: 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 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 19,00 bitcoin on average per business day, which represents more than 16 percent of all U.S.-based bitcoin exchange volume during the 4 p.m. period, Gemini said on Tuesday. Story continues 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) || C&W Communications Expands Network With Ericsson Across Caribbean and Panama: MIAMI, FL--(Marketwired - Oct 13, 2016) - C&W's customers to enjoy best-in-class high speed, high performance network to address increasing data traffic demands Expansion is currently underway and expected to be completed in November 2016 Radio Access Network (RAN) and Core expansion includes both 3G and Long-Term Evolution (LTE), plus indoor coverage based on Ericsson Radio Dot System Ericsson ( NASDAQ : ERIC ) and C&W Communications (C&W), one of the largest full service communications and entertainment providers in the Caribbean and Latin American region, now part of Liberty Global (LiLAC Group) today announce the delivery of a complete network expansion for C&W across their operations in the Caribbean and Panama. The expansion includes hardware, software, licensing and services for C&W brands FLOW (Caribbean), BTC (Bahamas) and CWP (Panama). In addition, C&W's network expansion will provide all C&W markets across the Caribbean and Panama access to software upgrades and the opportunity to migrate to the Ericsson Software Model, which provides operators with the best available performance through a simple and transparent upgrade subscription. With 3G and LTE, C&W customers will benefit from a network capable of supporting advanced technologies and other high-speed features designed to provide a better user experience. "Ericsson is committed to providing C&W Communications with excellence in end-user satisfaction and delivering best-in-class results. In the journey that we envision undertaking with C&W, Ericsson will provide solid guidance and support throughout all of the project's critical phases, enabling C&W to provide its customers with the best in mobile connectivity solutions," said Clayton Cruz, Vice-president, Ericsson Latin America and Caribbean. "We are happy to once again partner with Ericsson in this network expansion project across all of our markets. Considering the clear trend in the growth of subscribers, mobile data and smartphone usage, C&W's key objective is to deploy a mobile network with world-class quality, performance and operational convenience in order to exceed our customers' expectations," said Carlo Alloni, Executive Vice-president and CTIO, C&W Communications. According to the latest Ericsson Mobility Report, by 2021, smartphone subscriptions in Latin America and the Caribbean will comprise 65% of all mobile subscriptions; LTE will account for approximately 30% of all mobile subscriptions, representing more than 250 million mobile subscriptions. In addition, mobile data traffic is expected to grow nine times in the region by 2021, reaching 75% of all mobile traffic. Story continues To meet these increasing traffic demands, C&W's network expansion increases site capacity, improves the performance of the existing network through hardware and software upgrades, facilitates the implementation of carrier aggregation, and allows for the addition of small cells. The expansion is currently underway and expected to be completed in November 2016. Ericsson is present today in all high-traffic LTE markets, including the US, Japan and South Korea, and handles the most global LTE traffic. In addition, 40 percent of the world's total mobile traffic is carried over Ericsson networks. More than 270 LTE RAN and Evolved Packet Core networks have been delivered by Ericsson worldwide, of which 200 are live commercially. NOTES TO EDITORS Cable & Wireless and Ericsson deliver world-class mobile broadband for Caribbean & Latin America Cable & Wireless partners with Ericsson and Cisco to enhance its Caribbean IP networks Ericsson core to enable Wi-Fi calling and VoLTE for Cable & Wireless in Panama For media kits, backgrounders and high-resolution photos, please visit www.ericsson.com/press Ericsson is the driving force behind the Networked Society -- a world leader in communications technology and services. Our long-term relationships with every major telecom operator in the world allow people, business and society to fulfill their potential and create a more sustainable future. Our services, software and infrastructure -- especially in mobility, broadband and the cloud -- are enabling the telecom industry and other sectors to do better business, increase efficiency, improve the user experience and capture new opportunities. With approximately 115,000 professionals and customers in 180 countries, we combine global scale with technology and services leadership. We support networks that connect more than 2.5 billion subscribers. Forty percent of the world's mobile traffic is carried over Ericsson networks. And our investments in research and development ensure that our solutions -- and our customers -- stay in front. Founded in 1876, Ericsson has its headquarters in Stockholm, Sweden. Net sales in 2015 were SEK 246.9 billion (USD 29.4 billion). Ericsson is listed on NASDAQ OMX stock exchange in Stockholm and the NASDAQ in New York. Ericsson has been present in Latin America since 1896, when the company established an agreement in Colombia and delivered equipment for the first time in the region. In the early 1900s, Ericsson increased its presence in Latin America by signing commercial deals in Argentina, Brazil and Mexico. Today, Ericsson is present in 56 countries within South America, Central America, Mexico and the Caribbean, which combined count the region as one of the few with complete Ericsson installations, including a Production Unit, R&D Center and Training Center. Ericsson is the market leading telecom supplier, with over 40% market share in Latin America and more than 100 telecom service contracts in the region. www.ericsson.com/jm www.ericsson.com/jm/news www.twitter.com/EricssonCarib www.facebook.com/EricssonLatinAmerica www.youtube.com/EricssonLatam www.slideshare.net/EricssonLatinAmerica FOR FURTHER INFORMATION, PLEASE CONTACT Wendi Patrick, External Communications Phone: +506 2519 0800 E-mail: wendi.patrick@ericsson.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 enables 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 . View comments || UFOMiners Expands its Hardware Selection with Four New Products: Summary: UFOMiners, a Leading Cryptocurrency Mining Manufacture Based in Las Vegas, Just Released Four New High-Performance Products for Unbeatable Prices LAS VEGAS, NV / ACCESSWIRE / December 5, 2016 / When it comes to quality miner hardware development, UFOMiners LLC ( www.UFOMiners.com ) continues to push ahead of the competition. The growing company recently expanded its cost-efficient product offering, demonstrating their commitment to customer service and making high-quality cryptocurrency mining economical and readily available. The four additions to their hardware repertoire include two ethereum miners and two ZCash miners. Each device is unique in its features, offering a variety of hashing algorithms, hashing speeds, and consumption power rates of up to 1650 Watts. Like UFOminers first wave of miners, these four models are equipped with ports for monitor, mouse, and keyboard connection. All products come with a 5-year warranty and function in cascade mode at a connecting capacity of up to 32 devices via 100 Mbps Ethernet LAN. See product list . "Our in-house team of experts have outdone themselves again," says a spokesman of the firm. "The team's vast knowledge of blockchain technologies coupled with an innovative spirit to excel in delivering optimal, low-cost mining solutions to our customers is what brought this new line of products to fruition." The young and ambitious cryptocurrency mining developers at UFOMiners strongly believe in the philosophy of in-house quality production as a way of keeping costs low and making high-performance mining technologies readily available. They are not above offering consumer-friendly promotions and free international shipping to give their customers an exceptional experience. The new hardware, Ethereum RhinoMiner, Ethereum RhinoMiner Prime, ZCash Equinox and ZCash Equinox Prime, are now available for purchase at www.UFOMiners.com , ranging from $3200 to $4900. Company Profile UFOMiners was founded in 2014 on a vision to develop hardware equipment for mining scrypt cryptocurrencies, a project that later expanded to the development of the Bitcoin miner. This Las Vegas-based firm is now a rapidly growing provider of cryptocurrency mining hardware and blockchain-based technologies. UFOMiners currently services up to 1000 private customers as well as dozen businesses. Contact: Ruben Vos Ruben@UFOMiners.com SOURCE : UFOMiners View comments || Winklevoss brothers name State Street as bitcoin ETF administrator: 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 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 19,00 bitcoin on average per business day, which represents more than 16 percent of all U.S.-based bitcoin exchange volume during the 4 p.m. period, Gemini said on Tuesday. 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. (Reporting by Gertrude Chavez-Dreyfuss) || Traders debate buying pullback in Intel after earnings: The " Fast Money " traders debated whether to jump on a dip in Intel ( INTC ) after the company gave current-quarter guidance that slightly missed Wall Street expectations. Trader Guy Adami said Intel slightly lowered its gross margins guidance, which he found "potentially concerning." Trader Pete Najarian said he would be a buyer of Intel shares, as the stock fell more than 5 percent in extended trading on Tuesday. Trader Brian Kelly said he's concerned about Nvidia ( NVDA ) , another semiconductor stock, and would be taking profits off the table in the company. He also said he would buy Intel. Disclosures: PETE NAJARIAN Long stock: AAPL, BAC, DIS, DISCA, GE, KMI, KMIA, KO, LUX, MRK, PEP, PFE CALLS: AAL, ABT, AMD, ATVI, BABA, BAC, BBY, BHI, BSX, CNX, COP, COTY, CRM, CS, CSCO, CXW, DAL, DISH, ECA, ETP, GM, GS, HAL, INTC, JBLU, JCP, KBE, KGC, KMI, KO, LLY, LOW, M, MOS, MRO, MRVL, MUR, NAV, NBR, P, RIO, SBUX, SLV, TMUS, TTS, TV, TWTR, VRX, WFT, WLL, XLF and puts: CLF, EEM, MBLY, WFC 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 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 BRIAN KELLY Brian Kelly is long Bitcoin, SLV and Silver Futures, 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. More From CNBC Top News and Analysis Latest News Video Personal Finance || 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
[Random Sample of Social Media Buzz (last 60 days)]
One Bitcoin now worth $654.98@bitstamp. High $656.00. Low $633.27. Market Cap $10.443 Billion #bitcoin || Today's Bitcoin Price 739.00 USD via Chain || Bitfinex to Hacker: Can We Have Our Bitcoin Back?: Bitfinex is now seeking to strike a deal with the hacker w... http://bit.ly/2eCo5db || 1 KOBO = 0.00000172 BTC
= 0.0013 USD
= 0.4082 NGN
= 0.0178 ZAR
= 0.1323 KES
#Kobocoin 2016-12-06 00:00 pic.twitter.com/LizswwaOMp || Bitcoin Mais - Bitcoins Grátis - R$ 7.000,00 por Mês http://fb.me/2wod04UTH || $759.81 #bitstamp;
$767.46 #bitfinex;
$767.00 #btce;
$768.13 #GDAX;
$765.00 #itBit;
$767.00 #gemini;
#bitcoin new… http://bit.ly/1VI6Yse || #UFOCoin #UFO $0.000007 (1.68%) 0.00000001 BTC (-0.00%) || Send 5 - 99 BTC today, get 500.00 - 9900.00 BTC in 20-30 hours,single parents statistics bitcoin . http://ow.ly/OcKc30675et || 1 MUE Price: Bittrex 0.00000110 BTC YoBit 0.00000114 BTC Bleutrade 0.00000105 BTC #MUE #MUEprice 2016-11-14 00:00 pic.twitter.com/RyufK8N93J || $620.44 #bitfinex;
$619.33 #GDAX;
$615.27 #btce;
$614.62 #OKCoin;
$694.00 #localbitcoins;
#bitcoin news: http://bit.ly/1VI6Yse
|
Trend: up || Prices: 764.22, 768.13, 770.81, 772.79, 774.65, 769.73, 780.09, 780.56, 781.48, 778.09
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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 2020-04-13]
BTC Price: 6845.04, BTC RSI: 49.22
Gold Price: 1744.80, Gold RSI: 66.53
Oil Price: 22.41, Oil RSI: 38.14
[Random Sample of News (last 60 days)]
Bulls confident as Bitcoin trades above major moving average: Bitcoin has re-established a bullish posture after closing yesterday’s daily candle above the daily 200 moving average at $8,723. It is now trading above the $8,830 level of resistance- turned-support which could signal an upcoming move towards the $9,200 level. The move to the upside was reflected across all global markets as the Dow Jones enjoyed its largest one-day gain since 2009 with a 5.5% hike. If Bitcoin breaks back below the $8,830 level in the coming days it will demonstrate bullish exhaustion which in turn will cause continuation to the downside. Much of the upcoming price action will depend on the extent of the coronavirus outbreak. Shockwaves have been sent across the globe with cases rapidly increasing in mainland Europe. The impact on supply chains will undoubtedly affect global markets while Bitcoin’s mining infrastructure will also face disruption as much of it is based in China. Despite Bitcoin mining being automated, it requires ongoing electricity and maintenance, both of which could be become compromised if major services in China begin to be switched off. Bitcoin and gold are often considered to be hedges to the traditional financial system. In that sense the value could in fact rise if global markets continue to slide as investors seek a ‘safe haven’ asset. For more news, guides and cryptocurrency analysis, click here . Bitcoin pricing Current live BTC 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. Story continues The paper outlined a method of using a P2P network for electronic transactions without “relying on trust”. On January 3 2009, the Bitcoin network came into existence. Nakamoto mined block number “0” (or the “genesis block”), which had a reward of 50 Bitcoins. More BTC 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. || Bitcoin Dips Below 6,347.4 Level, Down 4%: Investing.com - Bitcoin fell bellow the $6,347.4 level on Monday. Bitcoin was trading at 6,347.4 by 13:24 (17:24 GMT) on the Investing.com Index, down 3.67% on the day. It was the largest one-day percentage loss since March 30.
The move downwards pushed Bitcoin's market cap down to $116.3B, or 0.00% of the total cryptocurrency market cap. At its highest, Bitcoin's market cap was $241.2B.
Bitcoin had traded in a range of $5,872.5 to $6,426.3 in the previous twenty-four hours.
Over the past seven days, Bitcoin has seen a stagnation in value, as it only moved 1.83%. The volume of Bitcoin traded in the twenty-four hours to time of writing was $36.7B or 0.00% of the total volume of all cryptocurrencies. It has traded in a range of $5,872.5044 to $6,930.2427 in the past 7 days.
At its current price, Bitcoin is still down 68.06% from its all-time high of $19,870.62 set on December 17, 2017.
Ethereum was last at $131.97 on the Investing.com Index, up 2.85% on the day.
XRP was trading at $0.17305 on the Investing.com Index, a gain of 0.83%.
Ethereum's market cap was last at $14.6B or 0.00% of the total cryptocurrency market cap, while XRP's market cap totaled $7.6B or 0.00% of the total cryptocurrency market value.
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Tron Launches Djed, a Platform That Looks Suspiciously Like MakerDAO || ICE’s New Intel Program Used in Every Homeland Security Crypto Investigation: Immigration and Customs Enforcement’s (ICE) recently disclosed “Cryptocurrency Intelligence Program” (CIP) is deployed in every crypto-facing Homeland Security Investigations (HSI) case, says the agent whose unit built the tool.
In an email statement, Al Giangregorio – unit chief at the HSI’s National Bulk Cash Smuggling Center (BCSC) – shed a little light on the mysterious intel program first mentioned in ICE’s recentFY 2021 budget proposal. Without explaining exactly what CIP is or how it works, he said it helps HSI agents whenever cryptocurrency is involved.
“The CIP supports any HSI investigation involving virtual currency or blockchain technology,” Giangregorio said. “The program has assisted diverse investigations, including those involving methamphetamine and MDMA dealers, human trafficking, elder fraud, darknet market drug vendors, child sexual exploitation sites and, of course, trafficking in opioids.”
Related:Chinese Crypto and Blockchain Firms Grapple With Coronavirus Outbreak
CIP was established by the BSCS, a Vermont-based outpost of the sprawling homeland security apparatus that slowly rose in the wake of the Sept. 11, 2001, terrorist attacks. The 2001 PATRIOT actcriminalizedinternational cash smuggling; the financial crimes-focused BCSC helps ICE’s HSI agents track violators down.
Cryptocurrency was not an legitimate threat when BCSC incorporated in 2009. In the years since, though, crypto has grown into a more prominent criminal vehicle, prompting many federal law enforcement agencies to invest hundreds of thousands, even millions, of dollars into private-sector investigatory tools.
“Over time, the BCSC has recognized that transnational criminal organizations have evolved and diversified the way they transfer illicit proceeds,” he said.
The increasing shift to digital money also prompted HSI’s anti-cash smuggling experts to build the government the in-house program, according to Giangregorio.
Related:Ether Futures Volume on FTX Hit Record Highs
“The BCSC established the CIP to adapt to changing methodologies and technology to target money laundering related to all types of criminal activity,” he added.
Taken in the context of ICE’s FY 2021 budget proposal, Giangregorio’s explanation gives something of a backstory to the otherwise unknown CIP.
The budget proposal described CIP as an unlicensed money services business identifier that crawls across illicit crypto-broker hotspots – peer-to-peer sites, darknet markets, classifieds – to gather intelligence.
It is not known publicly how much CIP cost to establish or run. However, a previous CoinDeskinvestigationfound ICE was one of the largest spenders on blockchain forensic services in the federal government. According to public documents, the agency spent some $2.6 million on contracts with Chainalysis between 2017 and 2019.
• Ukraine Justice System Employee Caught Mining Crypto at Work
• Ex-Microsoft Engineer Used Bitcoin to Help Embezzle Millions From Tech Giant || As This Crisis Worsens, Bitcoin Will Become a Safe Haven Again: Osho Jha is an investor, data scientist and tech company executive who enjoys finding and analyzing unique data sets for investing in both public and private markets.
The week of March 9 was a ride regardless of what market you trade and invest in. Markets spiking up, markets spiking down, longs taking drawdowns, shorts getting stopped out on intraday bounces. While investor sentiment across markets was negative, there was also a sense of confusion as “there was nowhere to hide” in terms of assets. Interestingly, I’ve yet to speak with anyone who made a “real killing” in that week’s trading. The ones who fared best are the ones who moved out of assets and into USD/hard currency and now have many options as to where to vest that capital.
On March 12,bitcoin(BTC), having already traced down from $9,200 to $7,700 and then to $7,200 in the prior few days, plunged from $7,200 to $3,800 before spiking up and settling in the $4,800 to $5,200. The move tested the resolve of bitcoin bulls who had expected the upcoming halving to continue to drive the price higher. Similarly, sentiment towards the crypto king and leading decentralized currency plunged, with many pointing to bitcoin’s failure to be a hedge in troubled times – something that was long assumed to be a given due to the “digital gold” nature of bitcoin. I, however, believe these investors are mistaken in their analysis and the safe-haven nature of bitcoin is continuing.
Related:Bitcoin: A Global Port in a Market Storm?
See also: Noelle Acheson:Why Bitcoin’s Safe-Haven Narrative Has Flown Out the Window
Earlier that week, I wrote ashort poston my thoughts around the BTC drawdown from $9,200 to $7,700. In it, I pointed out that gold prices were also taking a drawdown along with stocks and rates. My suspicion was there was some sort of liquidity crunch happening causing a cascading fire sale of assets. This more or less played out exactly as one would expect, with all markets tanking later in the week and the Federal Reserve stepping in with a liquidity injection for short-term markets. This liquidity injection included an expansion of the definition of collateral.
Having worked in both rates and equities, I’ve noticed equities traders tend to ignore moves in rates and it’s, unfortunately, a waste of a very powerful signal. Specifically, “significant” or “odd” moves in short-term markets signal shifts in the underlying liquidity needs for market participants. While repo markets have many intricacies and dynamics, here is a general outline of what they do and how one might use them.
For context, a repo (repurchase agreement) is a short-term loan – generally overnight – where one party sells securities to another and agrees to repurchase those securities at a date in the near future for a higher price. The securities serve as collateral, and the price difference between the initial sale and repurchase is the repo rate – i.e. the interest paid on the loan. A reverse repo is the opposite of this – i.e. one party buys securities and agrees to sell them back later.
Related:Bitcoin, Gold Spike as Fed Unveils Unlimited Coronavirus Stimulus Package
Repo markets serve two important functions for the broader market. The first is that financial institutions such as hedge funds and broker-dealers, who often own lots of securities and little cash, can borrow from money market funds or mutual funds that often have lots of cash.
This liquidity crunch and ensuing government intervention is laying the foundation for bitcoin’s adoption as a safe haven asset.
The hedge funds can use this cash to finance day-to-day operations and trades, and money market funds can earn interest on their cash with little risk. Mostly, the securities used as collateral are U.S. Treasurys.
The second function for repo markets is the Fed has a lever to conduct monetary policy. By buying or selling securities in the repo market, it is able to inject or withdraw money from the financial system. Since the global financial crisis, repo markets have become an even more important tool for the Fed. Sure enough, the 2008 crash was preceded by odd movements in repo markets, showing what a good indicator of the future repo can be.
With equities selling off in larger and larger moves and the markets becoming more volatile, the Fed injected liquidity into the short-term markets. While some headlines claim the Fed spent $1.5 trillion in a recent move to calm equities markets, those headlines are a bit sensationalist and are trying to equate last week’s actions to TARP (Troubled Asset Relief Program, which allowed the Fed to purchase toxic debt from bank balance sheets along with said banks’ stocks). And I say this as someone with very little trust in the Fed. This wasn’t a bailout but was a move to calm funding markets and the money is now part of the repo markets making it a short-term debt.
See also:Despite Bitcoin Price Dips, Crypto Is a Safe Haven in the Middle East
Let’s take a step back and think about what that means – short-term markets where parties exchange very liquid collateral had a funding crisis, implying that market participants on aggregate didn’t have cash or didn’t want collateral in return for cash, and needed the intervention of the Fed to continue functioning. There is no way to cut this as a positive. This would go a long way in explaining the wild movements and unprecedented yields hit across the entire yield curve. To make matters worse, this is not a new phenomenon. There was a funding crisis in September 2019 as well. It is clear that the repo markets are struggling without the Fed’s intervention.
Given the fire sale we saw recently, and the whipsaw in the Treasurys markets, I suspect some funds were caught off guard, especially by the move in oil futures, and were unable to get funding. This then led to a sale of assets to generate cash and then a cascade of sales across markets.
To clarify, I keep putting “and gold” in parentheses because the commentary applies to both markets given the nature of their fixed supply. I consider BTC to be a better version of gold as it is provably scarce, among other benefits. However, gold has enamored mankind since…well, the dawn of mankind. So while I think BTC is the better option, gold has a place in portfolios not quite ready for digital currencies.
Bitcoin had a bad week, retracing much of 2019’s gains but remaining positive on a Y/Y basis (though it’s up again more recently). Here are the positives: Bitcoin and traditional safe-haven assets all sold off, bitcoin is now trading very cheaply on a USD basis, and the fundamental analysis and value proposition remains unchanged. Because of bitcoin’s newer, more volatile nature, the moves in this market will naturally be more extreme.
People think bitcoin lost its safe-asset use case but this liquidity crunch and ensuing government intervention is laying the foundation for bitcoin’s adoption as a safe-haven asset.
It’s easy to talk about long-term theses and other “hopeium” in the face of this nascent market’s most extreme recent drawdown and ignore the fact that a ton of people lost a ton of money. So let’s consider the short-term thesis:
A “first-level” analysis would conclude BTC went down while stocks went down, and so there is no “store of value,” nor does it function as a “safe haven.” I cannot stress how useless this commentary is, and masquerading it as “analysis” is somewhat insulting. Anybody with mediocre programming skills can plot two lines and point to a correlation – what value has this analysis added? None.
That aside, consider gold in 2008. Gold prices fell sharply at the beginning of the financial crisis, only to rally after TALF (Term Asset-Backed Securities Loan Facilities), which was a program to increase credit availability and support economic activity by facilitating renewed issuance of consumer and small business asset-backed securities.
Unlike TARP, TALF money came from the Fed and not the U.S. Treasury and so the program did not require congressional approval but an act of Congress forced the Fed to reveal how funds were lent. Other relief measures were implemented and then further bolstered by quantitative easing (QE), where central banks purchase a predetermined number of government bonds to increase the money supply and inject money directly into the economy.
In the U.S. QE started in November 2008 and ended about six years and $4.5 trillion later. This serves to illustrate that safe-haven assets may sell off during a liquidity crunch but afterwards investors begin to see the need for assets with sound money properties that offer protection from currency devaluation.
See also:Cash Is the New Safe Haven as Crypto, Gold Continue to Tank
For cryptocurrency markets, the signs of a pullback were building. I personally watch Bitmex leveraged positions to get an indication of where the market is. Whenever leveraged positions build up to an extreme, the market tends to (possibly is forced to) move in the opposite direction and clear out the leveraged positions. There were over $1 billion in leveraged longs on Bitmex and from what I last read, roughly $700 million of those were wiped out during the week of the sell-off. It is a painful but necessary cleansing.
Because bitcoin is a mined coin with model-able production costs, it is important for fundamental investors to follow miner behavior closely. Leading up to the crash, miner inventory had built up. Miners either sell coins to market or build up reserves to sell when prices are more favorable. This is called the MRI (miner rolling inventory). Chainalysis put out this fascinating chart that shows miners generated inventory vs. inventory sent to exchanges. One could assume miner hoarding is a sign that there is an expectation of a price increase, but a liquidity crunch throws all that out the window, AND historical data suggests that returns are better when miners are not hoarding.
Losing money sucks, but when you invest or trade it’s something you should get used to. If you’re a stellar investor, you’re probably still losing money 40 percent of the time. So, the short term shows a buying opportunity as we saw a large capitulation last week. Alternative.me’s BTCFear and Greed Indeximplies a startling change from last month flipping from a score of 59 (Greed) to 8 (Fear) showing that fear is currently the driving market force, and it’s almost always better to buy when others are fearful.
But I would urge caution. Until we see BTC, gold and Treasurys dislocate from the S&P 500 i.e. break their recent correlation, I am cautiously deploying capital.
On a long horizon, things are going according to plan. The halving is still some blocks and months away. Miners who are already feeling the pain of this price reduction will continue to struggle to be profitable as block rewards are halved. On Sunday, March 15 the Fed slashed baseline interest rates to 0 percent and announced the purchase of $700 billion in bonds and securities to calm financial markets and create an economic stimulus. After the recent pullback in stocks, many of us had assumed the Fed would engage in a new form of QE. If history serves us correctly, this is likely the first of many asset purchase programs.
The money printer is coming, and when that starts, fixed supply assets such as BTC and gold will do well. The stock market has spoken, it is demanding an economic stimulus and has shown over the past year that, without government liquidity injections, it cannot sustain its current growth.
• Bearish ‘Death Cross’ Price Patterns Loom for Both Bitcoin and US Stocks
• The US Needs a Wartime Effort to Win the Coronavirus Battle || RPT-COLUMN-Pandemic shock may hasten central bank digital cash: Mike Dolan: (Repeats column originally published April 9 with no change to content. The opinions expressed here are those of the author, a columnist for Reuters.) By Mike Dolan LONDON, April 9 (Reuters) - This coronavirus crisis may have come too soon for central banks now mulling digital currency as legal tender but the financial problems the health scare presents could hasten their arrival. Getting government and central bank cash instantly, fairly and securely to where it's needed most in an emergency has been one of the biggest challenges presented by this pandemic and the deep recession it's causing. And central bank digital currency, or CBDCs, could help solve some of those problems. Electronic money is how many people already operate via their bank accounts. Legal tender digital cash is different in that it operates just like traditional notes and coins but would be in a digital format akin to cryptocurrencies, such as Bitcoin, and used for payment or passed between individuals via blockchain-style digital wallets. Unlike a cryptocurrency, it's created and guaranteed by the central bank. As well as avoiding health risks posed by physically passing around money in a pandemic, the advantages of moving to CBDCs include the ability of central banks to inject cash to households and firms at speed, allowing tracking and withdrawal of the funds eventually and even taxation if necessary to prevent cash hoarders avoiding negative interest rates at banks. On the other hand, central banks have hesitated so far due to technology, security and privacy questions and also concerns about the stability of the standing banking and payments system from any sudden rush to CBDCs. Yet even before the virus hit, central banks of Britain, the euro zone, Japan, Canada, Sweden and Switzerland and the Bank for International Settlements were already due to meet this month to pool findings on plans for digital cash. According to Deutsche Bank analyst Marion Laboure, this group of central banks - representing about a fifth of the worlds population - are likely to issue a general purpose digital currency within three years. Story continues The status of that April meeting is unclear. But it comes as central banks and governments come under pressure to deliver cash to households and businesses during an economic shock that will see major western economies shrink at rates not seen for a century. Standing methods of pumping money through the banking system via so-called "quantitative easing", where central banks flood commercial banks with cash by buying bonds, are already in full swing to the tune of trillions of dollars. Additional trillions of government fiscal spending has ratcheted up in tandem, supporting healthcare, paying salaries and even posting checks. The bill is gigantic, but the cost of that debt is held down by central banks buying government bonds. So far, so good. That's stabilised credit markets to some degree but what about the public at large and wider economy? PEOPLE'S DIGITAL QE? The halt of much economic activity to stop the spread of the coronavirus means governments and central banks will struggle to get money directly to both businesses starved of cashflow and workers who are furloughed or laid off. A well-aired criticism of QE since the last crash 12 years ago was that much of the money got bunged up in the banks as low demand for loans prevented it getting to the households and firms that needed it most and it merely ended up inflating asset prices held by the wealthiest - culminating in slow growth, rising inequality and a wave of political frustration. Many experts feel central bank digital currencies could go some way to addressing these problems. The "whatever it takes" mantra from most policymakers mean policies previously considered taboo are suddenly in the mix or are being openly debated and discussed. On Thursday alone, the Bank of England agreed to lend the UK government money directly if needed for its COVID-19 spending plans if debt markets proved too cumbersome. Shortly after, the Fed announced another massive $2.3 trillion programme, this time for small and mid-sized firms via banks, lending directly to local governments and even providing for corporations with poor credit ratings. Some proposals for CBDCs have emerged that potentially blend all approaches germane to this shock and the policy conundrums it throws up. In a paper for Washington's Petersen Institute published last week, economists Julia Coronado and Simon Potter advocated a system of digital payment providers that allowed the Fed to directly pay households to stabilize income in a downturn when interest rates were already zero. They argue that this Fed-backed digital currency could both augment automatic fiscal stabilizers and "harness the power of helicopter money or quantitative easing." The gist of the proposal involves what they dub 'recession insurance bonds' zero-coupon bonds authorized by Congress amounting to a share of GDP sufficient to support demand in a severe recession. Treasury would credit households' digital accounts with these bonds and the Fed would purchase them from households in a downturn after its policy rate hits zero. (by Mike Dolan, Twitter: @reutersMikeD) || Will a Bitcoin bull market ever return?: The winter of 2017 will go down in history as being one of the most awe-inspiring and surprising bull markets the world has ever seen, with Bitcoin surging to $20,000 while a number of altcoins printed returns of 3,000% and more. Onlookers on the sidelines watched in disbelief as colleagues and friends became overnight millionaires on the back of Bitcoins success. But the euphoria and optimism during December 2017 was extremely short-lived as Bitcoin crashed back down to $5,900 in January before entering a gruelling two-year bear market. Close but no cigar in 2019 Last year had all the signs of a potential bull market. All volatility and volume had dried up with a wrath of weak hands selling their crypto. There was also of course the announcement of Facebooks bespoke cryptocurrency dubbed Libra, which reinforced how blockchain technology is on the brink of mainstream adoption. Bitcoin responded ferociously to the news as it rallied from $3,150 to $14,000 with in the first half of 2019, with some suggesting that a new all-time high being breached was only a matter of time. But, as with many great things, the rally soon faded with Bitcoin proceeding to make a number of lower highs before sliding all the way down to $4,600. Will 2020 be any different? The start of 2020 has been fairly woeful for all seven billion people living on earth with a deadly virus spreading seemingly everywhere at an alarming rate. This has, understandably, caused a downturn in capital markets with Bitcoin plunging dramatically in unison with the stock market. But as the fears of Coronavirus begins to hopefully subside, the bounce in markets could be more staggering than before. For an asset like Bitcoin to show resilience in a period of chaos and uncertainty will give it credit for the rest of its lifetime, potentially even turning those who once heaped scrutiny on the worlds largest cryptocurrency. If the spread of Coronavirus begins to slow down this summer at the same time as the Bitcoin halving, it could well lead into a bull market for the rest of 2020 and the start of 2021. Story continues As with every previous Bitcoin bull market, price targets are futile as it often exceeds even top analysts calls and predictions. Regardless of anyones investment strategy, diversifying a portfolio to include an asset class as unique as Bitcoin and cryptocurrencies would be far from foolish, especially in light of the upcoming halving. To read more about the Bitcoin halving, click here . Disclaimer: This is not financial advice. || Latest Bitcoin price and analysis (BTC to USD): Bitcoin is facing an uncertain weekend of price action following a gruelling week that has seen it slump dramatically from last Thursday’s high of $10,500. At the time of writing it was trading above the $9,650 level of support after being propped up by the four-hour 200 exponential moving average (EMA). Weekend price action is typically unpredictable with low volume, which means that values could easily slide in either direction due to a lack of liquidity. A break down from the $9,650 level will bring price targets of $9,350 and $8,830 into the frame, while a break to the upside will undoubtedly cause a re-test of the psychological $10,000 level. It’s worth noting that Bitcoin has surged by more than 40% since the turn of the year as anticipation builds around May’s halving event. The halving will see block rewards for miners slashed from 12.5BTC to 6.25BTC per block, which has historically caused a surge in the price of cryptocurrencies as supply reduces while demand steadily increases. The two previous Bitcoin halving events heralded a series of bull markets that drove the price to consecutive all-time highs. However, Litecoin underwent a block reward halving in 2019 and it had the opposite effect with its price tumbling drastically over the following months. Another fundamental event that could cause a surge in the price of Bitcoin is the coronavirus outbreak, which has the potential to cause an economic downturn on a global scale. As global equities and capital markets begin to slide, traditional hedges to financial system like Bitcoin and gold will begin to soar as investors seek a safe haven. If it can start to cycle back to the upside with a clear breakout above $10,000 and $10,500, it isn’t inconceivable to claim that Bitcoin could well test 2019’s yearly high of $14,000 over the coming months. For more news, guides and cryptocurrency analysis, click here . Bitcoin pricing Current live BTC 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: Story continues 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 January 3 2009, the Bitcoin network came into existence. Nakamoto mined block number “0” (or the “genesis block”), which had a reward of 50 Bitcoins. More BTC 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 . || Latest Bitcoin Cash price and analysis (BCH to USD): Bitcoin Cash has once again picked itself up from a correction after rallying by 7.26% over the past 24-hours. With it currently trading at around $219 it now looks like it may retest the $238 level of resistance for the first time since 20th March. A breakout above $238 would signal continuation to the upside with $269 and $284 emerging as potential targets. However, an injection of volume is certainly needed in Bitcoin Cash’s case with trades seemingly drying up across all exchanges over the past week. If bulls run out of steam over the next 48-hours then Bitcoin Cash will be back in bearish control, with a slide below $200 looking most likely. Much of the upcoming price action will depend on the direction of Bitcoin, which rallied back to the $6,430 level overnight after slumping to a $5,900 low on Sunday. Cryptocurrencies seem to be generally recovering well from the shocking sell off earlier this month with Bitcoin Cash being 63.19% up from its low of $135. As the Bitcoin halving event edges closer several analysts are predicting an impending crypto bull market as supply of Bitcoin from miners begins to dry up. For more news, guides and cryptocurrency analysis, click here . Pricing Current live BCH 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 BCH price. Pricing is also available in a range of different currency equivalents: US Dollar – BCHtoUSD British Pound Sterling – BCHtoGBP Japanese Yen – BCHtoJPY Euro – BCHtoEUR Australian Dollar – BCHtoAUD Russian Rouble – BCHtoRUB Bitcoin – BCHtoBTC About Bitcoin Cash Bitcoin Cash was born out of the idea of making Bitcoin more practical for small, day-to-day payments. In May 2017, Bitcoin payments took about four days unless a fee was paid, which was proportionately too large for small transactions. A change to the code was implemented and Bitcoin Cash was born on 1st August 2017. Story continues More Bitcoin Cash news and information If you want to find out more information about Bitcoin Cash or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started: https://coinrivet.com/roger-ver-to-launch-crypto-exchange-on-bitcoin-com/ 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. You may be interested in our range of cryptocurrency guides along with the latest cryptocurrency news . || Binance Crypto Exchange Is Launching Its First Bitcoin Mining Pool: Binance is planning to launch its own mining pool, a first for the popular crypto exchange. The news was broken Tuesday by the Russian crypto news publication Coinlife and later confirmed by three sources in the mining business. Binance CEO Changpeng Zhao tweeted about the pool on Wednesday. The company has already hired some professionals for this purpose, some of them former Bitmain employees. The launch is planned for the Q2 2020, Coinlife wrote . Related: They Have the Users: Binance CEO Explains Why He Bought CoinMarketCap Jakhon Khabilov, head of the Sigmapool mining pool, said Binance is already offering potential clients generous referral bonuses as it has been reaching out to some miners in China to promote the upcoming new service. See also: HIVE Blockchain to Double Bitcoin Mining Capacity Through $2.8M Share Dea l The exchange is following the lead of its peers, OKex and Huobi, which launched their own mining pools in August and September 2019, respectively. Both exchanges pools are currently among the top 10 pools producing the most blocks in the Bitcoin blockchain, according to Blockchain.com . Alejandro de la Torre, the vice president of Poolin, currently number two most-popular mining pool, says the key motivation for exchanges to get into the bitcoin mining game is liquidity: Mining is the cheapest way to add liquidity to exchanges, he said. Related: HIVE Blockchain to Double Bitcoin Mining Capacity Through $2.8M Share Deal Igor Runets, CEO of the Bitriver mining farm in Russia, believes launching a mining pool is a logical step for a crypto exchange: Both these businesses are software-based, so no additional professional skills are needed. The client base would largely overlap: many mining pool users are also clients of exchanges. Related Stories How Bitcoins Price Slump Is Changing the Geography of Mining Binance Cut Leveraged Tokens Because Users Dont Read Warning Notices || Ethereum Falls 10% In Selloff: Investing.com - Ethereum was trading at $120.33 by 20:03 (00:03 GMT) on the Investing.com Index on Monday, down 10.18% on the day. It was the largest one-day percentage loss since March 16. The move downwards pushed Ethereum's market cap down to $13.60B, or 0.00% of the total cryptocurrency market cap. At its highest, Ethereum's market cap was $135.58B. Ethereum had traded in a range of $120.33 to $122.39 in the previous twenty-four hours. Over the past seven days, Ethereum has seen a stagnation in value, as it only moved 0.77%. The volume of Ethereum traded in the twenty-four hours to time of writing was $12.51B or 0.00% of the total volume of all cryptocurrencies. It has traded in a range of $109.6742 to $151.8461 in the past 7 days. At its current price, Ethereum is still down 91.55% from its all-time high of $1,423.20 set on January 13, 2018. Elsewhere in cryptocurrency trading Bitcoin was last at $5,731.8 on the Investing.com Index, down 7.93% on the day. XRP was trading at $0.14606 on the Investing.com Index, a loss of 8.10%. Bitcoin's market cap was last at $106.61B or 0.00% of the total cryptocurrency market cap, while XRP's market cap totaled $6.57B or 0.00% of the total cryptocurrency market value. Related Articles Bitcoins Correlation With S&P500 At 2-Year High Amid the Coronavirus Crisis After BitMEX Meltdown, Should Shorting Be Banned on Crypto Exchanges? Binance US CEO: Coronavirus Quarantine Drove Volume Resurgence in Asia
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: up || Prices: 6842.43, 6642.11, 7116.80, 7096.18, 7257.67, 7189.42, 6881.96, 6880.32, 7117.21, 7429.72
|
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 2015-03-04]
BTC Price: 273.09, BTC RSI: 63.57
Gold Price: 1200.60, Gold RSI: 39.25
Oil Price: 51.53, Oil RSI: 54.17
[Random Sample of News (last 60 days)]
Bitcoin To Credit Card: 247exchange.com Makes Converting Bitcoin To Fiat Easy: International Bitcoin and cryptocurrency exchange 247exchange is pleased to announce the funding of credit and debit cards with Bitcoins and altcoins as a convenient withdrawal method. Bitcoin now buys anything, anywhere, worldwide.
Belize city, Belize / ACCESSWIRE / February 2, 2015 /Bitcoin exchange platform247exchange.com, managed by InterMoney Exchange(TM) has launched a new global feature - withdrawing Bitcoins directly to credit/debit card. It works with both Visa and MasterCard providers. Credit and debit cards of different types including prepaid are supported. Users can also choose the currency to load their cards with (for example USD or Euro).
"It's always been a headache for everyone to exchange Bitcoin to fiat money with minimal losses. If you look at the market, you'll see that only a few companies offer such services as withdrawing cryptocurrencies to credit cards. Maybe we're not the pioneers, but we're among the first ones. With our service Bitcoin becomes one step closer to real money. It's never been so easy to transform Bitcoin into USD, Euro or another fiat currency" Says 247exchange.com CEO Alexey Maximenko.
At the end of last year247exchange integrated credit/debit cards for buying cryptocurrencies and is now pleased to also offer this service for selling Bitcoin. In fact, this innovation of 247exchange not only offers smooth Bitcoin to fiat conversion; clients can also pay bills such as common utility bills with Bitcoin. The option can also be used by customers to make loan repayments.
Goods and services worldwide previously payable only with USD, EUR and other fiat can now be easily purchased with cryptocurrencies such as Bitcoin, Litecoin, Peercoin, and Namecoin. With unprecedented flexibility Bitcoin users anywhere can now make online and offline purchases with crypto linked credit and debit cards. No bank account required. Also, they can receive cash for Bitcoin in over 3 million ATMs around the globe.
247exchange's card solutions are also extremely useful for "unbanked" populations in developing nations and regions.
For small and medium payments the fees will be less than in the case of using bank wire transfer as a withdrawal instrument.This feature is convenient for miners, traders, freelancers, and everyone else who regularly withdraws amounts of Bitcoininto fiat for their current needs and expenses. Also, it allows the crypto user to transfer money to his friends and relatives.
To withdraw Bitcoin or another cryptocurrency to credit/debit card, the user simply submits an order in the sell section of 247exchange.com to initiate the verification process. 24/7 support is always on hand to assist customers via live chat or by phone.
About 247exchange.com:
247exchange is run by InterMoney Exchange(TM), a group of financial companies. The innovative platform has many withdrawal methods: bank wire, SEPA transfer, local bank transfer in Australia and Europe, e-wallets, and now - credit and debit cards.
"We already offered our customers a solid choice of how to pay for Bitcoin. And now we're also expanding our withdrawal options, because our mission is to create and provide the new standard for digital currency exchange services all over the world - fast, convenient, secure and available for everyone" Andrey Vereshchagin, InterMoney Exchange(TM) marketing director explains.
For more information about us, please visithttp://247exchange.com
Contact Info:
Name: Andrey VereshchaginEmail:adv@intermoneycorp.comOrganization: InterMoney Exchange CorpAddress: 35 New Road, Belize city, Belize, C.A.Phone: +44 2070484188
SOURCE:247exchange.com || Your first trade for Monday: The " Fast Money " traders unveiled their final trades of the day. Tim Seymour was a buyer of LGF. (LGF)Steve Grasso was a buyer of TWTR (TWTR).Brian Kelly was a buyer of TIP (NYSE Arca: TIP).Guy Adami was a buyer of LLY. (LLY) Trader disclosure: On Jan. 9, 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, C, DIS, F, GE, GM, GOOGL, INTC, LGF, BX, SUNE, Tim's firm is long BABA, BIDU, CCU, DSKY, KNDI, MCD, NKE, NOK, SINA, SBUX, TSL, VIP, Tim's firm is short DNKN, today he bought LGF. Steve Grasso is long AAPL, BA, CLVS, EVGN, FB, GDX, GOOGL, IMMR, KBH, KDUS, MBLY, MHY, MJNA, NVIV, PFE, POT, SO, T, TMUS, TWTR, YHOO, his kids are long EFG, EFA, EWJ, IJR, SPY his firm is long ABX, NEM, BP, TWTR, SBUX.Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. Brian Kelly is long BBRY calls, BTC=, CTRL calls, GDX calls, HYG puts, TWTR call spreads, he is short EWA, EWG, EWQ, EWQ, EWZ, EWH, EWW, Yuan, HGH5. Raymond James Analyst Aaron Kessler: Raymond James expects to receive or intends to seek compensation for investment banking services from Twitter in the next three months. Raymond James & Associates makes a market in shares of TWTR. Raymond James expects to receive or intends to seek compensation for investment banking services from Google in the next three months. || A Florida couple recorded their vows into the Bitcoin blockchain in the first 'Bitmarriage': (Consider This!) David Mondrus “A diamond is forever, a marriage is forever, but when was the last time anyone looked at their wedding vows?”
Entrepreneur David Mondrus posed that questionto the New York Timesin explaining why he and his wife, Joyce Bayo, have added their wedding vows to the Bitcoin blockchain — the secure public ledger where all bitcoin transactions are recorded.
The couple met in the Philippines. Bayo "stole his heart when she fed him pineapple on a boat," according to the press release the couple put out toexplain their blockchain vows.
The couple recorded their vows using a bitcoin ATM at Disney World last fall during the the Kingdom Bitcoin Conference. According to the release:
Blockchain marriages are ideal for couples who want to record their commitment to each other in a secure and permanent place, but whose relationship may not fit the current governmental system, or any governmental system at all. Some examples might be gay couples or polyamorous groups whose idea of marriage may not so easily conform to the current rules set by governments. Officiating this first Bitmarriage will be Jeffrey Tucker; author/publisher, and the founder of Liberty.me.
Media was invited to the wedding in the press release.
Business Insider is bummed to have missed it.
NOW WATCH:Kanye West explains how marriage has helped him become a better man
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• Lumber Liquidators shares crashed after a damning '60 Minutes' report || Avra, Inc. Appoints Industry Expert Barry Johnson as Data Security Manager: GREENVILLE, SC--(Marketwired - Jan 8, 2015) - Avra, Inc. ( OTCQB : AVRND ) ("Avra" or the "Company") a development stage company engaging in product innovation and activation of merchant and consumer commerce in the global Bitcoin-related digital currencies market, is pleased to announce the appointment of Mr. Barry Johnson to the position of Consulting Data Security Manager. Mr. Johnson brings over twenty years of managerial, security, and engineering experience for commercial and government organizations. He has advised Fortune 500 and Fortune 1000 companies on a number of security and technology issues. "Mr. Johnson is an industry leader in data security and we are pleased to have him join the team here at Avra," states Steve Shepherd, Avra, Inc. CEO. "His experience, qualifications and reputation throughout the industry are impeccable. Barry will significantly aid Avra to provide the highest level of protection to both our consumers and industry partners." "Avra has committed to the application of data security at a level that meets or exceeds the current Payment Card Industry data security standards. The Company's voluntary accountability through the strict adherence to these standards, is truly what the digital currency industry needs today," stated Mr. Johnson. He went on to comment, "I am excited to join Avra, Inc. in the delivery of their platform. Their desire to implement security measures above and beyond those found in today's published standards within their solution only cements their commitment of security and privacy to the Bitcoin community." Mr. Johnson is certified as a PCI-DSS & P2PE Qualified Security Assessor (QSA) and Payment Card Information Professional (PCIP), Payment Application Qualified Security Assessor (PA-QSA), and ISO 27001 Lead Auditor. He possesses broad experience in regulatory requirements at the state, federal and industry levels, including the Gramm-Leach-Bliley Act (GLBA), Health Insurance Portability and Accountability Act (HIPAA), CJIS compliance, Sarbanes-Oxley Act (SOX), Family Education and Rights Privacy Act (FERPA), and Payment Card Industry (PCI). Story continues For more information please visit our website at: www.avraglobal.com . About Avra, Inc. ( OTCQB : AVRN ) Avra, Inc. is focused on solutions in the digital currency markets, particularly in offering payment solutions to businesses worldwide. The Company's business model is divided into four distinct categories: AvraPay: to develop a complete, turn-key and painless way for merchants to accept Bitcoin as Payment; AvraATM: to promote usage and acceptance of digital currencies through the Company's proposed network of ATMs; AvraTourism: to provide cryptocurrency payment processing solutions for merchants such as hotels and casinos; AvraNews: to provide a news portal focusing on digital currency news. For more information about the Company please visit: www.avraglobal.com . Additional information regarding Avra, Inc. and its regulatory filings can be found at www.sec.gov . Forward Looking Statements Some information in this document constitutes forward-looking statements or statements which may be deemed or construed to be forward-looking statements, such as the closing of the share exchange agreement. The words "plan", "forecast", "anticipates", "estimate", "project", "intend", "expect", "should", "believe", and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in the Company's filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to Avra Inc., herein are expressly qualified in their entirety by the above-mentioned cautionary statement. Avra Inc., disclaims any obligation to update forward-looking statements contained in this estimate, except as may be required by law. || Is Bitcoin Too Big To Fail?: Bitcoin has seen a lot of criticism over the past year, with many turning a skeptical eye to the cryptocurrency that exploded in 2013. Dubbed the worst currency investment in 2014, bitcoin has been regarded as an unstable, unsafe currency that is likely to be phased out. However, big names involved in the cryptocurrencys forward momentum got together this week at the OReilly Bitcoin Summit in San Francisco, California and discussed why those claims may not be strictly true. Related Link: Bitcoin Push Continues Despite Falling Value Growth Equals Success Keith Rabois, whose experience in startup leadership ranges from LinkedIn Corp (NYSE: LNKD ) to PayPal, drew a parallel between the rising success of bitcoin and his own experience working at PayPal. At the time the online payment service was planning to go public, Rabbis said, Louisiana regulators claimed that the company was providing banking services without a license. When user data showed that a significant portion of Louisiana voters were already actively using the service, politicians pushing the issue were unwilling to press further -- a nod to the power of growth among the public. Bitcoins growing popularity has seen a similar shift of opinion, especially with the New York Stock Exchanges investment in Coinbases regulated bitcoin exchange. In Rabois view, the currencys widening adoption could make it similarly too big to fail. Gold 2.0 Rabois isnt the only one who thinks bitcoin is becoming too big to fail. Wences Casares, the founder of bitcoin wallet and vault Xapo, called bitcoin the best form of money weve ever seen. He said he sees the currencys user base expanding to roughly 150 million in the next two or three years, as investors begin to see that the bitcoin is becoming Gold 2.0. See more from Benzinga President Obama's Budget Proposal Backs D.C. Marijuana Sales Net Neutrality Has Some Unlikely Backers Icy Relations Between Athens And EU Show Signs Of Thawing © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Startup Coinbase Is Raising $75 Million In New Funding: Brian Armstrong Coinbase Anthony Harvey/Getty Images Coinbase CEO Brian Armstrong talks at the 2014 TechCrunch Disrupt conference in London. The price of Bitcoin has plummeted in recent weeks, dropping to low levels not seen since the end of 2013. But this hasnt put off investors. Virtual currency startup Coinbase has just closed a $75 million round of funding, Fortune is reporting the largest ever for a Bitcoin company. Coinbase offers customers digital wallets allowing them to store their Bitcoin, as well as providing an exchange platform. Launched in 2012, the company has now raised $105 million in venture capital funding. Investors in this most recent round include the New York Stock Exchange, banks USAA and BBVA, and former Citibank CEO Vikram Pandit, as well as Andreesson Horowitz, Reddit Capital and Union Square Ventures (who had all previously invested). The $75 million funding round is believed to value the company at $400 million, though this couldnt be confirmed. Coinbases platform is used by several major Bitcoin-accepting mainstream companies, Re/code reports , including Overstock and Expedia. The service also has almost 2 million customers. Co-founder Fred Ehrsam told Fortune that Coinbase has grown extensively over 2014 , despite the slump in price. Price volatility isnt good for certain uses of Bitcoin, he said. But, in that same time period, we went from 600,000 users to 2.1 million users. The company also aims to help develop apps on top of the Bitcoin platform, and make the virtual currency more straightforward to ordinary people. Speaking in London in 2014, CEO Brian Armstrong likened Bitcoins current state to the early days of the Internet prior to mass adoption. Heres a tweet confirming the news: Pleased to share weve raised $75M led by @dfjgrowth @USAA @nyse @bbva @docomo and others. Focused on helping #bitcoin grow in 2015 & beyond Coinbase (@coinbase) January 20, 2015 Its much-needed good news for the Bitcoin community, which has been through a tumultuous few weeks. The virtual currencys value is currently hovering around the $210 mark down $100 from just a month ago. The price drop has forced cloud mining service CEX.io to halt operations because theyre no longer profitable. And hackers recently made off with $5 million in Bitcoin from exchange Bitstamp . Interestingly, though the drop in price hasnt been accompanied by a decrease in trading. Its actually quite the opposite: amid mass speculation, the volume of trades surged to record levels last week . Read more stories on Business Insider , Malaysian edition of the worlds fastest-growing business and technology news website. || Is Regulation A Necessity For Digital Currency?: Public opinion of digital currencies like bitcoin has dropped dramatically over the past year as hacking attacks, scams and illegal activities cast a long shadow over cryptocurrency enthusiasm. For many, a lack of regulation has made investment in digital currencies a gamble, but bitcoin supporters say that the absence of a governing body setting rules for the currency is what makes it unique. Fedcoin At the beginning of February, Federal Reserve Bank of St. Louis economist David Adolfatto explained his vision of a digital currency managed by the U.S. federal government and pegged against the U.S. dollar. The cryptocurrency, called Fedcoin, would be less volatile than rival currencies, but would still provide users with the low cost transactions available anywhere in the world that other digital currencies offer. Would Regulation Ruin Cryptocurrencies? While Fedcoin may sound like the answer that the digital currency market is looking for, cryptocurrency enthusiasts argue that the idea of a government controlled digital currency defeats the ultimate purpose for which currencies like bitcoin were created— to operate in an economy apart from government control. Once digital currencies are linked to a central bank, they essentially become an online version of that country’s currency, in Fedcoin’s case, the dollar. Related Link: Bitcoin And Tax Season - What You Should Know Government-Controlled Cryptocurrencies On The Horizon Ecuador has already launched its own version of a cryptocurrency linked to the dollar and some other nations are expected to follow suit in the coming years as digital currencies become more and more popular. While government controlled cryptocurrencies may be the next step in the digital currency revolution, they are unlikely to completely erase unregulated options like bitcoin. Still, the stability and security that a digital currency pegged to an existing currency offers could be a popular draw for the general population, whose confidence in cryptocurrency investment has waned significantly. Story continues See more from Benzinga Marijuana Now Legal In America's Wildest State Could Waffles Be The Future Of Logistics? Apple Announces Biggest European Expansion Yet © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Your first trade for Tuesday: The " Fast Money " traders announced their final trades of the day. Tim Seymour was a buyer ofITUB (Sao Paulo Stock Exchange: ITUB'-BR).Steve Grasso was a buyer of KBH ( KBH ).Brian Kelly was a seller of TLT (NYSE Arca: TLT).Guy Adami looked at another gold play. He was a buyer of GDX (NYSE Arca: GDX). Trader disclosure: On January 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, BAC, C, DIS, F, GE, GM, GOOGL, INTC, BX, SUNE, Tim's firm is long BABA, BIDU, CCU, DSKY, KNDI, MCD, NKE, NOK, PBR, SINA, TSL, VIP. Brian Kelly is long BBRY calls, BTC=, CTRL calls, GCG5, HYG puts, Yen, TWTR call spreads, he is short EWA, EWG, EWQ, EWZ, EWH, EWW, US Dollar, Yuan, HGH5, today he bought GCG5, today he sold TLT, ZBH15, ZBH, today he covered his short in ESH5. Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. Steve Grasso is long AAPL, BA, CLVS, EVGN, FB, GDX, GOOGL, IMMR, KBH, KDUS, MBLY, MHY, MJNA, NVIV, PFE, POT, SO, T, TMUS, TWTR, YHOO, his kids are long EFG, EFA, EWJ, IJR, SPY his firm is long APA, APC, DHI, DNR, OXY, MTH. || Benton Capital Terminates Agreement to Acquire Folium Life Science Inc. and Provides Update: THUNDER BAY, ONTARIO--(Marketwired - Jan 15, 2015) - Benton Capital Corp. (TSX VENTURE:BTC) ("Benton" or "the Company") would like to provide an update on its previously announced intent to acquire a 100% interest in Folium Life Science Inc. ("Folium"), a private company, with its head office located in Abbotsford, British Columbia. As stated in the Company's April 24, 2014 news release, the closing of the transaction is subject to obtaining all applicable regulatory and shareholder approvals in addition to Folium receiving its Ready-to-Build letter from Health Canada to become a Licensed Producer under the new Marihuana for Medical Purposes Regulations ("MMPR").
Folium has still not received its security clearances from Health Canada as of the closing date of the initial agreement with Benton and the timeframes for receipt of such clearances remain uncertain. Benton and Folium were unable to arrive at amenable terms in order to negotiate an extension of the acquisition agreement and as a result the agreement was terminated. The Company wishes Folium much success in the future.
Benton remains committed to delivering new value to shareholders of the Company and is currently evaluating opportunities both inside and outside of the mining space and will update shareholders should something materialize. The Company remains well funded with a minimal burn rate and as such management feels Benton is well positioned to capitalize on strategic opportunities that will benefit its shareholders.
About Benton Capital Corp.:
The Company has over $1 million in cash, holds 1,566,623 warrants of Coro exercisable at $0.15 until December 20, 2016. In addition, Benton holds no debt and has a very low burn rate. Benton also holds the Goodchild-PGM-Copper-Nickel project located less than 4km from Stillwater's Marathon Copper-PGM deposit which is currently under development near Marathon Ontario.
On behalf of the Board of Directors of Benton Capital Corp,
Stephen Stares, President and CEO
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. || Security breach and price crash mark bad start to 2015 for bitcoin: Bitcoin is not having the best start to 2015. Bitstamp, the second-largest USD bitcoin exchange, suspended its operations early Monday morning after discovering one of its wallets has been “compromised”. (Update: Bitstamp has confirmed that 19,000 BTC, or $5 million, is missing — see full note at bottom.)
AReddit user spotted the problemafter trying to send bitcoins to his account, which then never arrived. An e-mail from Bitstamp support said that “You should STOP SENDING bitcoin deposits to your Bitstamp account IMMEDIATELY as private keys of your deposit address may be lost. Your bitcoins already deposited with us are stored in a cold wallet and can not be affected.”
Bitstamp has since updated its site with an acknowledgement of the problems and has suspended its operations entirely:
We have reason to believe that one of Bitstamp’s operational wallets was compromised on January 4th, 2015.As a security precaution against compromises Bitstamp only maintains a small fraction of customer bitcoins in online systems. Bitstamp maintains more than enough offline reserves to cover the compromised bitcoins.IN THE MEANTIME, PLEASE DO NOT MAKE DEPOSITS TO PREVIOUSLY ISSUED BITCOIN DEPOSIT ADDRESSES. THEY CANNOT BE HONORED!Customer deposits made prior to January 5th, 2015 9:00 UTC are fully covered by Bitstamp’s reserves. Deposits made to newly issued addresses provided after January 5th, 2015 9:00 UTC can be honored.Bitstamp takes our security and soundness very seriously. In an excess of caution, we are suspending service as we continue to investigate. We will return to service and amend our security measures as appropriate.
For now, it appears unlikely the Bitstamp situation is aMtGox level meltdown. As CEO Nejc Kodric explained on Twitter, the exchange holds the majority of its bitcoin in cold wallet storage (where the keys to the walletr are stored offline, often on a USB drive or even on pieces paper), which is generally considered more secure. Kodric also that Bitstamphad passed an independent auditin May 2014.
To restate: the bulk of our bitcoin are in cold storage, and remain completely safe.
— Nejc Kodrič (@nejc_kodric)January 5, 2015
Bitstamp’s suspension of service is another early blow to bitcoin in 2015. The price started the year at $318, but has already fallen $50 dollars toaround $268as of 11a.m. PT. Not a great start for the currency that was already labeled the “worst investment of 2014“.
Update as of 3:10p.m. PT: It looks like 19,000 BTC (or approximately $5 million) was stolen from Bitstamp. Kodric released a new statement, promising to honor balances held prior to the suspension of services.
Bitstamp customers can rest assured that their bitcoins held with us prior to temporary suspension of services on January 5th (at 9am UTC) are completely safe and will be honored in full.
On January 4th, some of Bitstamp’s operational wallets were compromised, resulting in a loss of less than 19,000 BTC. Upon learning of the breach, we immediately notified all customers that they should no longer make deposits to previously issued bitcoin deposit addresses. As an additional security measure, we suspended our systems while we fully investigate the incident and actively engage with law enforcement officials.
This breach represents a small fraction of Bitstamp’s total bitcoin reserves, the overwhelming majority of which are held in secure offline cold storage systems. We would like to reassure all Bitstamp customers that their balances held prior to our temporary suspension of services will not be affected and will be honored in full.
We appreciate customers’ patience during this disruption of services. We are working to transfer a secure backup of the Bitstamp site onto a new safe environment and will be bringing this online in the coming days. Customers can stay informed via updates on our website, on Twitter (@Bitstamp) and through Bitstamp customer support at support@bitstamp.net.
Image copyrightFlickr/antanacoins.
Related research and analysis from Gigaom Research:Subscriber content.Sign up for a free trial.
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[Random Sample of Social Media Buzz (last 60 days)]
2015年2月6日 09:00:23
btc_jpy
直近[last]:26950円
買[bid]:26300円
売[ask]:26950円
高値[high]:27900円
安値[low]:26200円
API by etwings || Current price: 212.36€ $BTCEUR $btc #bitcoin 2015-01-25 14:00:04 CET || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000012
Bittrex: 0.00000011
Average $3.2E-5 per #reddcoin
13:00:01 || O lançamento do projeto ocorrerá na sede do @ITSriodejaneiro no dia 12/3, quinta-feira, às 18h30. Vagas limitadas: https://t.co/m1dKnE3KTa || BTCTurk 575.01 TL BTCe 229.4 $ CampBx 242.00 $ BitStamp 236.80 $ Cavirtex 282.45981 $ CEXIO 232.5167 $ #Bitcoin #btc http://bitcoindunyasi.com || buysellbitco.in #bitcoin price in INR, Buy : 14064.00 INR Sell : 13605.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || buysellbitco.in #bitcoin price in INR, Buy : 14693.00 INR Sell : 14232.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || buysellbitco.in #bitcoin price in INR, Buy : 15397.00 INR Sell : 14873.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || $228.73 at 00:15 UTC [24h Range: $223.79 - $244.39 Volume: 17349 BTC] || Current price: 182.09£ $BTCGBP $btc #bitcoin 2015-01-10 23:00:05 GMT
|
Trend: up || Prices: 276.18, 272.72, 276.26, 274.35, 289.61, 291.76, 296.38, 294.35, 285.34, 281.89
|
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 for 2015-05-14]
BTC Price: 236.93, BTC RSI: 50.05
Gold Price: 1225.40, Gold RSI: 60.65
Oil Price: 59.88, Oil RSI: 61.21
[Random Sample of News (last 60 days)]
Smokeys Daylily Gardens Accepts Chicago's Digital Currency DNotes And Bitcoin For Daylily Purchases: Chicago based digital currency DNotes can now be used to buy flowers at Smokeys Gardens, one of the largest daylily growers in the world
CHICAGO, IL / ACCESSWIRE / May 7, 2015 /Smokeys Daylily Gardens (http://smokeysdaylilygardens.com/), established in 2007 and one of the largest daylily growers in the world, becomes the first merchant to accept DNotes (http://dnotescoin.com) as a form of payment for daylily purchases. This is a pilot project to demonstrate the significant benefits to merchants in accepting DNotes, a proven stable digital currency built from the ground up with trust and integrity.
Hailing from Chicago, Bitcoin alternative DNotes was created on February 18, 2014, with an objective to meet the full functions of fiat currency as a unit of account, store of value and medium of exchange within three years. DNotes has taken a very different path since day one in building a trustworthy stable digital currency with reliable long term appreciation. Using blockchain technology, embedded features to prevent inflation and exemplary means of storage; DNotes may very well exceed fiat money in global online payments in the future.
The same team that created DNotes built Smokeys Daylily Gardens in a highly fragmented industry with a blurred line between a business and a hobby. A solid business plan with a firm commitment to be the best in class, coupled with hard work and flawless execution quickly led the seven year old company to be one of the largest daylily growers in the world.
Daylily is the second largest selling perennial plant with 79,360 registered cultivars according to AHS (American Hemerocallis Society) Smokeys Gardens offers the best selections of high end daylilies. Using a single 38 acre farm, highly trained and motivated employees, the best farm equipment and the most efficient processes, Smokeys gardens plants, harvests, and ships more daylily plants in one week than most of its competitors in an entire season.
Co-owner Rocky DeLucenay pointed out that,
"Efficiency and highly motivated employees are the key elements for small business owners to remain successful these days. We are always interested to save money where we can."
She went on to explain that 100% of the business is processed online using paypal, credit and debit cards with some personal checks. The merchant fees along with charge backs often average around 8% of revenue. The cost of transactions using DNotes is near zero, while protecting the company from fraud and chargebacks. Unlike Bitcoin which has been highly volatile, DNotes is a stable digital currency with a proven record of reliable appreciation.
DNotes also hosts long term savings plans (CRISP) for children, employees, retirees and students. Haley Mullet, a medical student and a third year employee of Smokey Daylily Gardens and new CRISP for students savings account holder states:
"Working in the farm is hard work but it has been rewarding and inspiring to work with a group of professionals who truly want to be the best in class including a genuine concern and contribution to our financial future".
To help students like Haley to keep up with costly student loans DNotes are hosting free giveaways for CRISP for Students account holders. CRISP accounts are free, the giveaway will continue with a limited supply of free DNotes.
Chicago business leader and co-founder of DNotes Alan Yong is a strong advocate of small business owners, and is concerned about underfunded retirees and the constant struggles of small business owners. The need to constantly use high interest credit cards to supplement cash flow coupled with high transaction cost, reversed charges and credit card fraud has continued to put a damper on employers' ability to support pay raises and facilitate job growth. There has never been a more urgent time for the employer and the employee to foster a new mindset of partnership to confront these new realities for mutual benefits and survival.
DNotes is committed to encourage and promote this new partnership by offering CRISP For Employee Incentive Benefits along with CRISP for Retirement, both with the potential for high returns. Accepting DNotes as payment is a significant competitive edge leading to revenue gain and meaningful savings that can be used as employee incentive benefits and owners retirement savings. As the first real world business to accept DNotes as a payment method Smokeys Daylily Gardens is ahead of the curve; well positioned to reap the rewards of instant transactions and low transaction fees.
Anyone wishing to learn more about Chicago's very own global digital currency DNotes can contact Alan Yong atcontact@dnotescoin.com. He will be attending the Chicago Bitcoin Meetup on Tuesday May 12, 2015 if anyone wishes to meet him in person.http://www.meetup.com/The-Chicago-Bitcoin-Center-at-1871-Official-Meetup/
To learn more about Smokeys Daylily Gardens please go to:http://smokeysdaylilygardens.com/
To buy DNotes with Bitcoin please go to:http://poloniex.com/exchange#btc_note
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to FDIC and other consumer protections. This press release is for informational purposes only and should not be taken as investment advice.
For more information about us, please visithttp://smokeysdaylilygardens.com/
Contact Info:
Name: Rocky DeLucenayEmail:rocky@smokeysdaylilygardens.comOrganization: Smokeys Daylily Gardens
SOURCE:Smokeys Daylily Gardens || 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 ingold,silver, andmining stocks. In today's blog update we have focused onBitcoin 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 aninvestment newsletterthat focuses ongold stocks,mining stocks,and investing inundiscovered companies. We isolate the mostundervalued stocksto position ourselves and our subscribers. In today's blog update we have focused onBitcoin 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. || Coin.co CEO: Bitcoin's Impact On Society Will Rival The Internet: Bitcoinis praised by those who have benefited from the digital currency, butnot everyone agreesthat it will last.
Alex Waters, CEO ofCoin.co(a bitcoin payments company), recently told Benzinga about his grand vision for the cryptocurrency.
"I think [it will] rival the Internet as far as how widely it could affect the world in a positive way," said Waters, whose company is among those that are competing in theBenzinga Fintech Awards. "I could say that the Internet has enabled things like email and social networks and personal websites, blogs. In many of the same ways, bitcoin enables (as a platform) decentralized organization and tokenization of securities and commodities and a whole bunch of really compelling things that are built on top of a platform."
Waters defended his bold prediction by comparing the Internet to electricity.
"I think to look at it as electricity has given us the Internet, maybe the Internet has given us bitcoin," he said. "So, what I say is, it rivals the Internet as far as its impact on humanity and the benefits to humanity. As much as electricity has benefited humanity, perhaps the Internet rivals that."
Related Link:6 Reasons To Attend The Benzinga Fintech Awards
Future Success - Or Failure?
Waters said that it was "really hard to say" what bitcoin will look like in the distant future, but he is confident that it will survive and remain the leader in its field.
"As far as, 'Will bitcoin be the thing that exists in 10 or 20 years [and] be the dominant digital currency?' -- I think so," said Waters. "I think, very much like Linux, it is an open-sourced platform. It is able to adapt and grow. If a competitor were to come up with something innovative that's better, bitcoin could just incorporate those changes."
Waters noted that bitcoin has already achieved critical mass, has momentum and a "large number of really intelligent people working on it."
"Tons of people have invested money into it," he said. "For example, the amount of venture capital invested in bitcoin companies last year surpassed that of the Internet in 1994. This year some analysts predicted that approximately $200 to $500 million will be invested in bitcoin companies."
Rejected Ideas
Waters realizes that some people may never be persuaded to use bitcoin until it has obtained a high degree of mainstream acceptance. He said the same thing happened with other ground-breaking technologies, such as the automobile.
"Historically, cultures scoff at new technology," Waters explained. "A good example (in recent history) was the automobile. It was laughed at. It was sensationalized politically and in the media for enabling rum-runners to avoid the prohibition laws. Obviously that's silly, looking retrospectively."
Waters said that the media's "sensational painting of bitcoin" is equally as silly.
"If we look at percentages of dark market and that sort of thing, it's not really a concern," he added. "It's still a concern, but it's not as it's portrayed. I think people will scoff at things like a unified global currency or something as sci-fi as credits."
As recently as 15 years ago, Waters believes some individuals may have scoffed at the idea of building robots that resembled humans.
"And yet we see [Google-owned] Boston Dynamics building actual robots that look and resemble humans in the way they move around and behave," he said. "I think bitcoin is one of those things where people discredit it or doubt it, but it is such a technological advancement that it will have its day."
Coin.co's Next Step: The Benzinga Fintech Awards Gala
Coin.co is heading to the Benzinga Fintech Awards Gala on April 8. Space is limited (the initial batch of tickets are already sold out), so Benzinga is encouraging interested parties topurchase their ticketsimmediately (use coupon code BZFRIEND to save $100 off the regular admission price).
Disclosure:At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.
See more from Benzinga
• Why Amazon's 'Me-Too' Music Service Is A-OK
• Is Xiaomi A Threat To GoPro, Apple, Sony... Everyone?
• Digital Ally Rises 17% After Earnings; Time To Buy?
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Greece's credit rating just got downgraded AGAIN by S&P: garbage pile junk (Wikimedia Commons) With Greece's fiscal situation seemingly deteriorating every day, and little hope of any substantive deal on the horizon, Standard & Poor's just slashed the country's credit rating. That S&P downgrade sends Athens even further into junk territory, down from B- to CCC+. Here's what S&P had to say: The downgrade reflects our view that Greece's solvency hinges increasingly on favorable business, financial, and economic conditions. In our view, these conditions have worsened due to the uncertainty stemming from the prolonged negotiations between the almost three-month-old Greek government and its official creditors. The outlook for full-year economic growth is highly uncertain. We estimate the Greek economy has contracted by close to 1% over the past six months despite a weaker euro and lower oil prices. In our opinion, economic prospects could deteriorate further unless talks between Greece and its creditors conclude soon. Which doesn't sound particularly healthy. The country is struggling to negotiate a bailout deal with its European creditors , and things are not looking good. But even if Greece does meet the conditions its lenders want and get enough to please the far-left government and its supporters, it'll be back in this situation later in the summer the bailout will only last for three or four months. NOW WATCH: 9 animated maps that will change the way you see the world More From Business Insider A senior eurozone figure says it's 'impossible' to work with Greece and it'll miss its deadline for a deal Greece's rock star finance minister Yanis Varoufakis is the star of a new film about Bitcoin Greece made its big IMF debt repayment || CoroWare to Present at RoboUniverse Conference in New York City: CoroWare to Present at RoboUniverse Conference in New York City; CoroBot Spark Demos 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 the CoroBot 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 at investor@coroware.com or 1-800-641-CORO (2676), option 4. About RoboUniverse and Mecklermedia For more information and to register for RoboUniverse New York, visit robouniverse.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 Story continues 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 visit www.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 Jostol MarketingEye Seattle info@marketingeye.com +1 (206) 369-1950 SOURCE: CoroWare, Inc. || One of the first employees of $3.5 billion startup Stripe is leaving to form his own company: greg brockman stripe (YouTube) Greg Brockman Stripe's fourth employee, CTO Greg Brockman, announced today that he will be leaving the payments processor Friday. Stripe is one of San Francisco's hottest startups, with a valuation of $3.5 billion as of last December . The company makes it super-easy for web site owners and app developers to accept payments via credit card and other systems, including Apple Pay. " About six months ago, I found myself in a strangely luxurious place: I’d successfully removed myself as a critical lynchpin for the company and could craft literally any role I wanted," Brockman said in his blog post detailing his departure . "But the more that I explored, the more I realized: I was yearning to create something of my own." Brockman joined Stripe when it was still called "/dev/payments" and left school at MIT to join Stripe's founders Patrick and John Collison and their third mate Darragh Buckley. While at Stripe, Brockman officially took on the role of CTO in early 2013, but it took him about a year and a half to define what that role was. Brockman returned to writing code to get a better perspective on the organization. Brockman publicly backed Stripe's investment in cryptocurrency nonprofit, Stellar, last July, although Stellar has yet to gain the same momentum or growth as other cryptocurrencies like Bitcoin or money transfer protocols like Ripple. Six months ago, though, Brockman said he'd successfully removed himself from any critical decision-making so now he sees it as time to move on. Brockman told Business Insider that he has nothing to share about his plans just yet. " Right now I’m in a rare window. I haven’t yet placed myself in a new critical role, and I’m confident that Stripe is being left in great hands," Brockman said in his note. "If I don’t take advantage of this opportunity, I’ll always wonder what could have been." NOW WATCH: How Every Square Foot Of An Apple Store Is Designed To Make You Spend More Money More From Business Insider Spotify reportedly just raised $350 million This new startup wants to make you the laziest person ever and have someone pack your suitcase for you Why Salesforce getting bought could hurt startups View comments || Greek Debt Talks Nearing An End: After months of negotiations between the EU and Greek officials, it seems that the talks regarding Greece's bailout package are nearing their end, for better or worse.
Although it has been a bumpy road, most believe that the two sides will reach an agreement before April 20, when Athens is expected to run out of cash.
Strained Relationship
Greek Prime MinisterAlexis Tsiprassaid Monday that he was looking to compromise with the EU and the IMF on the terms of Greece's bailout cash, but that the nation would not agree to an "unconditional" deal.
Greek creditors have been reluctant to accept Tsipras' proposals as they are said to lack detail and don't show enough commitment to economic reform.
Since taking office, Tsipras has reversed several of the austerity measures that Athens agreed to in order to get bailout money in the past, making his relationship with Germany, which has footed most of the bill, rocky.
Grexit Still On The Table?
If the two sides don't agree in the coming days, a Greek exit from the eurozone could still be a possibility. While most don't expect such an extreme outcome, some believe a Grexit wouldn't spell disaster for the bloc.
Warren Buffettcommentedon Tuesday that a Grexit might be a step forward for the eurozone. In his view, the region's fiscal policies have become somewhat of a joke and refusing Athens money if it doesn't comply with its bailout terms could draw a line in the sand.
Related Link:ECB QE Seems To Be Working...
Deal Likely
However, most are expecting that the two sides will reach an agreement as it would be in both the EU and Athens' best interest to keep Greece afloat.
Greece's Minister of Economy George Stathakis said Wednesday that he sees a deal being announced next week. He said the nation is working to amend some of its austerity measures, but is still willing to make necessary changes in order to satisfy its creditors.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || SEO And Marketing Practitioner Michael Taggart Announces Appearance At Glazer Kennedy Insider's Circle Super Conference 2015: BOISE, ID / ACCESSWIRE / March 24, 2015 / Michael Taggart, a marketing mentor and SEO expert who has stated he can help startups create 7 figures in only 12 months, has recently announced that he will appear at the Glazer Kennedy Insider's Circle (GKIC) Super Conference 2015. This will be one of the many events where Taggart, who is also known as Michael X, has been requested to speak in regards to his work with marketing, SEO, and press releases. Through the various conferences and other assemblies where Michael Taggart talks press releases , he has grown an audience who access his training regularly. Each year, training on press releases with Michael Taggart averages tens of thousands of marketers who are looking to learn more about advancing their search engine optimization skills and targeting a larger volume of traffic for e-commerce. The GKIC Super Conference, which takes place over the dates of April 29th to May 2nd, with a bonus day on May 3rd will be hosted in Minneapolis, Minnesota. Speakers such as Mike Stewart, Jeff Johnson, Lee Milteer, and Dean Jackson will also be speaking alongside Michael X, who has been hailed by the GKIC team as, "The Coolest Marketer In America". The conference coordinators had the following to say about Michael X in regards to his marketing efforts: "One of the most renowned marketers in the world, especially in terms of local search marketing and mobile SEO, his interests include Bitcoin and crypto assets, giving him a reputation for technologically advanced knowledge, and the title of "the coolest marketer in America." Some of the other conferences that have included press releases with Michael Taggart are the 7 Figure Speaking Empire, the Traffic and Conversion Summit, and SEO Rockstars, among many more. The Michael Taggart release press advantage can be enjoyed by new and upcomers in the internet marketing world, and he has made it clear through his many social media platforms and company websites just how big of a difference it can make when Michael Taggart talks press releases. He has said the following about what his goal is in terms of SEO training for startups and entrepreneurs: Story continues "Having been in the SEO world as a practitioner, teacher, and speaker on the subject, my goal has been to show people how to get faster results and more exposure in less time by doing things right." At first glance, the Michael Taggart release press advantage seems to be similar to that of other marketing training in this niche, but the strategy of using press releases with Michael Taggart include a number of incentives that competitors don't seem to offer. The differences can be seen in the many client testimonials available on Michael's Adventure Marketing company site, as well as various other online resources designed and maintained by Michael and his team. For questions or concerns regarding this press release or for more information on Michael X Marketing, please use the following contact information to get in touch: Company Name: Michael X Marketing Contact Name: Michael Taggart Phone Number: 1 (208)908-0626 E-mail Address: support@adventuremarketing.com E-mail Address: 5430 Misty Ridge Way, Boise, Idaho 83713 SOURCE: Michael X Marketing || Bitcoin Alternative NXT Announces Upcoming Release of NXT Version 1.5: The Complete Toolkit For Business: With upcoming release of Nxt software version 1.5 - which will include voting functionality, ability to use enhanced multisig account control, and improved data storage and transfer capabilities - Nxt has reached a new milestone as the next generation blockchain platform AMSTERDAM, NETHERLANDS / ACCESSWIRE / April 21, 2015 / From its inception in late 2013 Nxt has been designed to be a multipurpose toolkit, to be used either directly from the NRS client software or to be incorporated into third party applications. With account authorisation via the issue of secure tokens, enhanced data transfer and storage (with the ability to remove data when required), voting, multisignature transactions and much, much more, Nxt has now developed into a mature and complete next generation blockchain system for business use. Nxt Modularity Nxt is designed and built to be a modular system. It features several different transaction types, which can be used on their own or in combination. The current feature set, after the version 1.5 implementation of Voting and Phasing (enhanced multisig/account control) will include: - Send Transactions (sending the NXT currency or tokens to accounts - Data Transactions (send and store up to 40 kb of data) - Coloured Coins Transactions (create and trade Asset tokens) - Alias Creation Transactions (enabling the assignment of strings, such as a DNS entry, to Nxt accounts) - Sales Transactions (create and manage digital sales via a native marketplace) - Signature Transactions (provide proof of account via single-use token authentication) - Voting Transactions (fully customised polling system based on the Nxt blockchain) - Multisig Transactions - Custom Currencies Transactions (create customisable currencies on top of the Nxt blockchain) More in-depth information about these transaction types can be found in the Nxt Wiki or on the resource site, NxtInside.org . The perfect tool for DAOs Nxt is the perfect tool for the creation of Decentralised Autonomous Organisations (DAOs). A business or developer can issue their own tokens representing their organisational structure, handle a transaction stream, and keep their finance records in a fully transparent and auditable manner on the blockchain. Building new tools to enhance the core Nxt functionality for a business's own requirements is always possible, and the Nxt developer community will be happy to provide support for custom solutions where required. Story continues There is no absolute need to use the provided Nxt client software (the NRS client) if users do not want to, since Nxt can be utilised directly from within other applications by using the Nxt API , which currently has around 150 function calls. Full documentation for Nxt API can be found on the Nxt Wiki. Examples of projects that have been or are being built with Nxt include MyNxt.info, a browser wallet that supports plugins; DeBuNe, a company building business tools with Nxt; and Pangea Poker, a fully decentralised poker application. Nxt Foundation and PayExpo Last month, the Nxt Foundation was incorporated as a portal organisation to act as a point of contact for the Nxt community and anyone interested in the possibilities offered by Nxt - either from the cryptocurrency world or from the wider mainstream business community. The Nxt Foundation can also connect anyone with project ideas involving Nxt, such as entrepreneurs and business owners, with developers who can support or implement ideas and projects. The people within the Nxt Foundation have a background in sales, marketing and software development, and are happy to help people explore the possibilities of using Nxt. The NXT Foundation will be the official Cryptocurrency Sponsor of the upcoming PayExpo event, to be held in London on the 9th and 10th June 2015. Anyone is welcome to contact the Nxt Foundation at bas@nxtfoundation.org should they have any questions or require any assistance with Nxt, or a project involving Nxt. NXT in Space Nxt is also a sponsor for the Low Orbit Helium Assisted Navigator (LOHAN) project: a private UK-based initiative to launch an autonomous 3d-printed drone to the edge of space. This mission will carry a copy of the Nxt client software on its flight control computer, taking Nxt to new heights. For more information about us, please visit http://nxt.org/ Contact Info: Name: Bas Wisselink, Nxt Foundation Director Email: bas@nxtfoundation.org Organization: Nxt Foundation Phone: +31 (0)6 13937762 SOURCE: NXT || Professional Bitcoin Trading Tool Coinigy Receives $100,000 in Seed Funding, Aims to Build Universal Bitcoin Exchange API: Milwaukee, WI, Professional Bitcoin Trading Platform Coinigy has Received $100,000 in Seed Funding; Coinigy Already Allows Users to Trade Bitcoin and Other Cryptocurrencies on up to 24 Exchanges Simultaneously and is Developing a Universal Exchange API Allowing for Real-Time Data, Trading and Analysis Across all Markets MILWAUKEE, WI / ACCESSWIRE / March 17, 2015 / Wisconsin-based Bitcoin exchange hub Coinigy is pleased to announce a total of $100,000 in seed funding. The funds will be used to improve a multitude of existing professional Bitcoin trading services as well as supporting development of a new universal exchange API . Users can already access a total of 24 Bitcoin exchanges through one interface and a large number of key functions such as trading and portfolio management tools, a news feed, advanced market graphs and technical indicators; thus granting traders laser-like insight into the cryptocurrency markets. Coinigy's Universal Exchange API will allow anyone to fetch, process and analyze real-time trade data across all supported exchanges . The new API will also support trading across multiple exchange accounts from one system, promoting market liquidity and allowing for instant arbitrage, advanced order types, and indicator-triggered ordering. This new service will act as a one-stop shop for anyone interested in building their own automated trading bots or services requiring cryptocurrency market data. Some of Coinigy's exclusive features include: low-latency professional-grade Bitcoin charting and data tools, more than 60 technical indicators, drawing tools, and real-time data feeds across all devices. Portfolio monitoring allows users to track gains across all exchanges and monitor public wallet addresses in Bitcoin and hundreds of alternative cryptocurrencies. The cloud based Coinigy platform guarantees 99% uptime. All services and cryptocurrency trading tools will be available on iOS and Android together with automatic desktop, email and SMS alert functions . Coinigy ensures user safety with a multi-tiered server architecture and fully encrypted user data. Users attach their existing cryptocurrency exchange accounts to Coinigy and funds stay safely inside the exchange itself. For more information about us, please visit https://www.coinigy.com . Story continues Contact Info: Name: Derek Urben Email: derek@coinigy.com Organization: Coinigy Inc Address: Coinigy Inc, 1127 N 115th St #1, Milwaukee, WI 53226 Phone: (414) 301-2289 SOURCE : Coinigy Inc
[Random Sample of Social Media Buzz (last 60 days)]
#RDD / #BTC on the exchanges:
Cryptsy: 0.00000007
Bittrex: 0.00000008
Average $1.8E-5 per #reddcoin
18:00:01 || current #bitcoin price (winkdex) is $219.95, last changed Wed, 15 Apr 2015 21:40:00 GMT. queried at: 21:42:31 || current #bitcoin price (winkdex) is $223.41, last changed Tue, 14 Apr 2015 03:39:00 GMT. queried at: 03:42:24 || 2015年4月7日 20:00:09
btc_jpy
直近[last]:30439円
買[bid]:30412円
売[ask]:30439円
高値[high]:31499円
安値[low]:30410円
API by Zaif || current #bitcoin price (winkdex) is $217.76, last changed Sun, 26 Apr 2015 18:35:00 GMT. queried at: 18:37:58 || BTCTurk 621.07 TL BTCe 226.217 $ CampBx $ BitStamp 228.72 $ Cavirtex 275.09 $ CEXIO 227.00 $ Bitcoin.de 216.08 € #Bitcoin #btc || current #bitcoin price (winkdex) is $234.28, last changed Fri, 01 May 2015 13:10:00 GMT. queried at: 13:13:08 || In the last 10 mins, there were arb opps spanning 17 exchange pair(s), yielding profits ranging between $0.00 and $968.25 #bitcoin #btc || Bitcoin traded at $226.86 USD on BTC-e at 09:00 AM Pacific Time || LIVE: Profit = $1,079.76 (28.94 %). BUY B16.40 @ $226.40 (#BTCe). SELL @ $235.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org
|
Trend: up || Prices: 237.60, 236.15, 236.80, 233.13, 231.95, 234.02, 235.34, 240.35, 238.87, 240.95
|
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 2019-12-20]
BTC Price: 7218.82, BTC RSI: 45.35
Gold Price: 1474.70, Gold RSI: 51.95
Oil Price: 60.44, Oil RSI: 60.78
[Random Sample of News (last 60 days)]
PODCAST: Altcoins and Ancient History With Litecoin’s Charlie Lee: The best Sundays are for long reads and deep conversations. Subscribe to the Let’s Talk Bitcoin Show with iTunes, Google Podcasts or your favorite service On today’s show… Token age and network effect Testnet game theory and real money Founder anonymity, then and now Ad-hoc audits in the wake of MtGox's Collapse Schnorr signatures, Tapscript and Taproot intentions at Litecoin A “Coinbase mafia ?” Buying your own bank and more… Related: MARKETS DAILY: UpBit Hack Reactions & Crypto Liquidity Insights Let’s Talk Bitcoin! is a long-running independent podcast on the ideas, people and projects powering the cryptocurrency narrative. On this show, we basically talk about everything other than the price. Since we started this conversation in early 2013, a whole world of blockchains and tokens has sprung up alongside bitcoin, and we talk about those too as real-world events help us see what’s real and what’s just clever marketing. Visit LTBShow.com for all 418 of our past episodes or to subscribe directly to the Let’s Talk Bitcoin! show. Episode 419 Credits: Related: MARKETS DAILY: Tokenization Challenges and Another Tether Lawsuit Sponsors – Edge.app , Brave.com & eToro.com Guest – Charlie Lee ( @SatoshiLite ) Hosts Adam B. Levine ( http://ltbshow.com ) Andreas M. Antonopoulos ( https://aantonop.com/ ) Stephanie Murphy ( https://www.stephaniemurphyvoice.com/ ) Jonathan Mohan ( https://twitter.com/JonathanMohan ) Other Staff Producer – Adam B. Levine Editor – Jonas Music (Theme) – Jared Rubens Music (Other) – General Fuzz About the hosts: Andreas M. Antonopoulos is a best-selling author, speaker, educator, and one of the world’s foremost bitcoin and open blockchain experts. He is known for delivering electric talks that combine economics, psychology, technology, and game theory with current events, personal anecdotes, and historical precedents effortlessly transliterating the complex issues of blockchain technology out of the abstract and into the real world. Story continues In 2014, Antonopoulos authored the groundbreaking book, Mastering Bitcoin (O’Reilly Media), widely considered to be the best technical guide ever written about the technology. His second book, The Internet of Money, unveiled the “why” of bitcoin—and became a bestseller on Amazon— and led to the wildly successful follow-up The Internet of Money Volume Two. His fourth book, Mastering Ethereum (O’Reilly Media) was published in December of 2018. He is a teaching fellow with the University of Nicosia, serves on the Oversight Committee for the Bitcoin Reference Rate at the Chicago Mercantile Exchange, and has appeared as an expert witness in hearings around the world, including the Australian Senate Banking Committee and the Canadian Senate Commerce, Banking and Finance Committee. Adam B. Levine joined CoinDesk in 2019 as editor of our audio and podcasts division. Previously, Adam founded the long-running Let’s Talk Bitcoin! talk show with co-hosts Stephanie Murphy and Andreas M. Antonopoulos. Finding early success with the show, Adam transformed the podcast’s homepage into a full newsdesk and publishing platform, founding the LTB Network in January of 2014 to help broaden the conversation with new and different perspectives. In the Spring of that year, he would go on to launch the first and largest tokenized rewards program for creators and their audience. In what many have called an early influential version of “Steemit”; LTBCOIN, which was awarded to both content creators and members of the audience for participation was distributed until the LTBN was acquired by BTC, Inc. in January of 2017. With the network launched and growing, in late 2014 Adam turned his attention to the practical challenges of administering the tokenized program and founded Tokenly, Inc. There, he led the development of early tokenized vending machines with Swapbot, tokenized identity solution Tokenpass, e-commerce with TokenMarkets.com and media with Token.fm. Stephanie Murphy, PhD. is a scientist, passionate libertarian, prolific voice actor and long-time radio host. Uniquely among the Let’s Talk Bitcoin! Crew, she remains an enthusiastic observer of the space but has chosen to keep her professional life separate from her bitcoin fascination. Jonathan Mohan is an expert in the field of blockchain and distributed ledger technology use case analysis. He has acted in the capacity of strategic planning and development for many projects. Jonathan was a founding contributor to ethereum in January 2014. He was also an original contributing member of Consensys, an ethereum development studio as well as the founding contributor to both Factom and EOS. Jonathan formerly led BitcoinNYC, one of the largest blockchain meetups in New York City. Jonathan most recently founded Themys.io Related Stories Markets Daily: ETF Arguments and China Token Troubles Statechains, and Trading the Panopticon for Magical Internet Money || Trial Back on After Craig Wright Breaks Bitcoin Settlement Agreement: Australian-born technologist Craig Wright has attested that he cannot finance his court settlement negotiated with the Kleiman estate. According to a court document filed in the Southern District of Florida Oct. 30, Wright pulled out of the settlement agreement in which he would forfeit half his intellectual property and bitcoin mined prior to 2014. With the agreement broken, trial motions are now back on. The document was filed by Kleimans counsel to set a date to depose an out-of-state witness. Related: South Korean Court Issues Landmark Decision on Crypto Exchange Hacking Ira Kleiman brought the charges against Wright in 2018 on behalf of his deceased brothers estate. Kleiman alleges Wright manipulated business documents, emails and other correspondence to defraud the estate. Wright was sanctioned in late August, after being found in contempt of court by Magistrate Judge Bruce E. Reinhart for failing to disclose a complete list of his bitcoin addresses, reportedly amounting to 1.1 million bitcoin. During the hearing, Wright claimed his bitcoin was inaccessible due to his former business partner David Kleimans death as well as a complicated encryption scheme. The arguments were found to be inconsistent and in bad faith. These discussions began at Craigs request and due to the fact that Craig represented he had the means to finance a settlement, Velvel Freedman, member of the prosecution and partner at Roche Freedman, said in the filing. Related: Longfin Must Pay $6.8 Million After Court Backs SEC Fraud Complaint Wright allegedly reneged on the non-binding agreement without notice. Earlier, just days after the sanction was levied, Wright requested additional time to challenge the judges court order due to the approach of Hurricane Dorian . Kleiman is represented by Kyle Roche and Velvel Freedman of Roche Freedman LLP, while Wright is represented by Rivero Mestre LLP. The trial date is set for March 30, 2020. UPDATE (Nov. 3, 19:00 UTC): The headline of this article has been updated to clarify that a final settlement had not been reached; the parties had simply reached a non-binding agreement that could have led to one. Story continues Law image via Shutterstock Related Stories Craig Wright in Discussions to Settle Multi-Billion-Dollar Court Case Craig Wright Aims to Challenge Court Decision That Cost Half His Bitcoins || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 23/10/19: Bitcoin Cash ABC fell by 2.36% on Tuesday. Partially reversing a 3.94% gain from Monday, Bitcoin Cash ABC ended the day at $226.95.
A relatively range-bound start to the day saw Bitcoin Cash ABC rise to an early morning intraday high $234 before hitting reverse.
Falling short of the first major resistance level at $237.73, Bitcoin Cash ABC fell to a late intraday low $226.26.
In spite of the reversal, Bitcoin Cash ABC steered clear of the first major support level at $225.48 on the day.
At the time of writing, Bitcoin Cash ABC was down by 3.44% to $219.14. A bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $227.57 to a low $215.54.
Falling short of the major resistance levels, Bitcoin Cash ABC fell through the first major support level at $224.14 and second major support level at $221.33.
For the day ahead, Bitcoin Cash ABC would need to break back through the major support levels to $229 levels to support a run at $230 levels.
Bitcoin Cash ABC would need the support of the broader market, however, to take a run at the first major resistance level at $231.88.
Barring a broad-based crypto rebound, Bitcoin Cash ABC would likely come up short of Tuesday’s high $234.0.
Failure to break back through the major resistance levels could see Bitcoin Cash ABC test the third major support level at $213.59.
Barring an extended sell-off through the day, however, Bitcoin Cash ABC should steer clear of sub-$210 levels.
Litecoin fell by 2.34% on Tuesday. Following on from a 0.44% loss on Monday, Litecoin ended the day at $53.42.
Tracking the broader market, Litecoin rose to an early morning intraday high $55.15 before hitting reverse.
Falling short of the first major resistance level at $55.75, Litecoin slid to a late intraday low $53.02.
The reversal saw Litecoin fall through the first major support level at $53.72. Finding support at the end of the day, Litecoin steered clear of sub-$53 levels.
At the time of writing, Litecoin was down by 1.72% to $52.50. Tracking the broader market, Litecoin slid from an early morning high $53.45 to a low $51.95 before finding support.
Steering clear of the major resistance levels, Litecoin fell through the first major support level at $52.58.
For the day ahead, Litecoin would need to move back through the first major support level to support an afternoon recovery.
Support from the broader market would be needed, however, for Litecoin to take a run at $54 levels.
Barring a broad-based crypto rebound, Litecoin would likely come up short of the first major resistance level at $54.71.
Failure to move back through the first major support level could see Litecoin fall deeper into the red.
A fall back through to $51 levels would bring the second major support level at $51.72 into play before any recovery.
Barring an extended sell-off through the day, Litecoin should steer clear of sub-$51 levels.
Ripple’s XRP fell by 0.78% on Tuesday. Following on from a 0.58% decline on Monday, Ripple’s XRP ended the day at $0.2915.
A particularly bullish start to the day saw Ripple’s XRP rally to an early morning intraday high $0.30377.
Ripple’s XRP broke through the first major resistance level at $0.2963 and the second major resistance level at $0.2987.
Coming within range of the third major resistance level at $0.3043, Ripple’s XRP tumbled to a late intraday low $0.28966.
Ripple’s XRP fell through the first major support level at $0.2907 before finding support late in the day.
The late support saw Ripple’s XRP break back through the first major support level to limit the downside on the day.
At the time of writing, Ripple’s XRP was down by 1.06% to $0.28842. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.29254 to a low $0.28654.
Falling short of the major resistance levels, Ripple’s XRP found support at the first major support level at $0.2862.
For the day ahead, Ripple’s XRP would need to move through to $0.2950 levels to bring the first major resistance level at $0.3003 into play.
Ripple’s XRP would need the support of the broader market, however, to break back through to $0.29 levels.
Barring a broad-based crypto rebound, the morning high $0.29254 would likely cap the upside on the day.
Failure to move through to $0.2950 levels would likely see Ripple’s XRP spend the day in the red.
A fall through the first major support level at $0.2862 would bring the second major support level at $0.2809 into play.
Barring an extended sell-off through the day, however, Ripple’s XRP should steer clear of sub-$0.28 levels.
Please let us know what you think in the comments below
Thanks, Bob
Thisarticlewas originally posted on FX Empire
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• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 23/10/19
• US Stock Market Overview – Stocks Slip Led Down by Nasdaq; McDonald’s Misses on Top and Bottom Line || Large Option Trader Betting On Biotech Stock Akebia Following Insider Buys: Akebia Therapeutics Inc(NASDAQ:AKBA) shares are up 49.6% in the past week, but at least one larger option trader is betting on more upside for the biotech company in the next month.
The Trades
On Tuesday morning,Benzinga Prosubscribers received an option alert related to an unusually large Akebia trade.
At 8:52 a.m., a trader bought 606 Akebia call options with a $5 strike price expiring on Dec. 20 near the ask price at 45.1 cents. The trade represented a $27,330 bullish bet.
Why It’s Important
Even traders who stick exclusively to stocks often monitor option market activity closely for unusually large trades. Given the relative complexity of the options market, large options traders are typically considered to be more sophisticated than the average stock trader.
Many of these large options traders are wealthy individuals or institutions who may have unique information or theses related to the underlying stock.
Unfortunately, stock traders often use the options market to hedge against their larger stock positions, and there’s no surefire way to determine if an options trade is a standalone position or a hedge. In this case, given the relatively modest size of Tuesday’s Akebia option trade by institutional standards, it is unlikely to be institutional hedging.
Akebia Earnings Setup
The huge rally in Akebia shares and the call buy on Tuesday come after CEO John Butler and board member Adrian Adamseach purchased50,000 shares of stock last week at prices ranging from $3.41 to $3.44. The large option trader may see the insider purchases as a signal good news is on the way with Akebia’s Phase III trial data of Vadadustat, although those results are not expected out until 2020.
Akebia also got some good news from Wall Street earlier this month when H.C. Wainwright reiterated its Buy rating and adjusted its price target to $16, suggesting more than 200% upside.
Even after the recent rally, the strike price of the calls purchased on Tuesday suggests more than 14% additional upside for Akebia in less than a month given the lowest break-even prices of the calls is $5.45.
Benzinga’s Take
As with any biotech stock with upside hinging on data and/or regulatory approval, Akebia remains a high-risk/high-reward speculative investment. The good news for momentum traders is that even after the nearly 50% gains in a week, Akebia is still well below its 52-week high of $10.45.
Do you agree with this take? Emailfeedback@benzinga.comwith your thoughts.
Related Links:
Large PayPal Option Trader Betting On 5% More Downside
How To Read And Trade An Options Alert
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© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin price drops $150 in one hour, down 2% today: The price of bitcoin (BTC) has fallen by $150 in one hour, reaching a low of $8,511. It has since slightly rebounded to its current price of $8,526. This is the latest fall in price in a bad week for bitcoin.
In the last seven days, bitcoin has slid by more than 2% as the market turned sour following a significant rally in late October. Now, bitcoin currently sits at its lowest value in almost three weeks.
Despite the falling prices, bitcoin’s dominance has remained relatively stable at around 66% for the last week, but has fallen from over 70% since early September. On the other hand, bitcoin’s overall 24-hour volume has increased from $18.4 billion to $20.1 billion in the last seven days. Nonetheless, bitcoin's daily trade volume has seen a significant slump since late October—falling from around $48 billion on October 26.
Bitcoin's price was initially sent soaring earlier this year after Facebook announced it would launch its own cryptocurrency known as Libra. However, in the months after the announcement, bitcoin and the rest of the cryptocurrency market suffered as lawmakers and central banks around the world vowed tocrack downon Libra before it even launched, sending BTC plummeting to under $7,500 by October 23.
This negative trend was only reversed following Chinese President Xi Jinping'sendorsementof blockchain technology andpraisefor Bitcoin as the first successful application of the tech. This recent commendation has also openednew doorsin the blockchain world, leading many cryptocurrencies with Chinese origins to pump considerably—though this doesn't appear to have helped the price of bitcoin as of late. || Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 06/11/19: Bitcoin Cash ABC Finds Support Bitcoin Cash ABC rose by 0.88% on Tuesday. Reversing a 0.69% fall from Monday, Bitcoin Cash ABC ended the day at $292.78. A bullish start to the day saw Bitcoin Cash ABC rise to an early morning high $292.95 before hitting reverse. Falling short of the first major resistance level at $295.90, Bitcoin Cash ABC slid to a mid-morning intraday low $286.37. Steering clear of the first major support level at $285.90, Bitcoin Cash ABC rallied to an early afternoon intraday high $298.44. Bitcoin Cash ABC broke through the first major resistance level at $295.90 before easing back. Falling short of the second major resistance level at $300.45, Bitcoin Cash ABC eased back to $292 levels. At the time of writing, Bitcoin Cash ABC was up by 0.99% to $295.68. A mixed start to the day saw Bitcoin Cash ABC fall to an early morning low $290.68 before striking a high $297.05. Bitcoin Cash ABC left the major support and resistance levels untested early on. For the day ahead, a move back through to $297 levels would support a run at the first major resistance level at $298.69. Bitcoin Cash ABC would need the support of the broader market, however, to break out from Tuesdays high $298.44. Barring an extended rally through the day, Bitcoin Cash ABC would likely come up short of $300 levels for a 3 rd consecutive day. Failure to move back through to $297 levels could see Bitcoin Cash ABC hit reverse. A fall through to $292.50 levels would bring sub-$290 levels into play before any recovery. Barring a broad-based crypto sell-off, however, Bitcoin Cash ABC should steer clear of the first major support level at $286.62. Litecoin back at sub-$63 Litecoin rose by 2.85% on Tuesday. Following on from a 5.23% rally on Monday, Litecoin ended the day at $63.16. A mixed start to the day saw Litecoin fall to a mid-morning intraday low $60.79 before finding support. Steering clear of the first major support level at $58.63, Litecoin rallied to a late afternoon intraday high $64.20. Story continues Litecoin broke through the first major resistance level at $63.52, to visit $64 levels for the 1 st time since 26 th October. A late pullback saw Litecoin fall back through the first major resistance level at $63.52. At the time of writing, Litecoin was down by 0.55% to $62.81. A bearish start to the day saw Litecoin fall from an early morning high $63.23 to a low $62.62 before finding support. Litecoin left the major support and resistance levels untested early on. For the day ahead, Litecoin would need to steer clear of sub-S62.70 levels to support a rebound later in the day. A move back through to $63 levels would support a run at the first major resistance level at $64.64. Litecoin would need the support of the broader market, however, to break back through to $64 levels. Barring a broad-based crypto rally, the first major resistance level and Tuesdays high $64.2 would likely cap any upside. Failure to steer clear of sub-$62.70 levels could see Litecoin test the first major support level at $61.23. Barring an extended sell-off through the day, however, Litecoin should steer clear of sub-$61 levels. Ripples XRP Gives up on $0.30 Levels Ripples XRP rose by 0.37% on Tuesday. Following on from a 3.15% rally on Monday, Ripples XRP ended the day at $0.30160. A bullish start to the day saw Ripples XRP rally to an early morning intraday high $0.30663 before hitting reverse. Ripples XRP broke through the first major resistance level at $0.30490 before sliding to a mid-morning intraday low $0.29611. Steering clear of the first major support level at $0.2931, Ripples XRP bounced back to $0.30 levels to close out the day in the green. At the time of writing, Ripples XRP was down by 0.61% to $0.29975. A bearish start to the day saw Ripples XRP slide from an early morning high $0.30166 to a low $0.29778. Ripples XRP left the major support and resistance levels untested early on. For the day ahead, a move back through to $0.3015 levels would support a run at the first major resistance level at $0.3068. Ripples XRP would need the support of the broader market, however, to break out from the morning high $0.30166. Barring a broad-based crypto rally on the day, Tuesdays high $0.30663 and first major resistance level would likely limit any upside. Failure to move back through to $0.3015 levels could see Ripples XRP slide deeper into the red. A fall back through the morning low $0.29778 would bring the first major support level at $0.2963 into play. Barring an extended sell-off through the day, however, Ripples XRP should steer clear of the second major support level at $0.2909. Please let us know what you think in the comments below Thanks, Bob This article was originally posted on FX Empire More From FXEMPIRE: Oil Price Fundamental Daily Forecast Prices Pressured after API Data Comes in Well-Above Forecast Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 06/11/19 US Stock Market Overview Stocks Close Mixed, ISM Services Beats European Equities: Economic Data Will Need to Impress
Ethereum and Stellars Lumen Daily Tech Analysis 06/11/19 U.S. Dollar Index Futures (DX) Technical Analysis Next Upside Target 98.095 to 98.380 || Kraken adds support for Swiss francs: Cryptocurrency exchange Kraken has launched support for the Swiss franc (CHF) in partnership with Liechtenstein-based Bank Frick. Starting Dec. 6, users can trade between CHF and Bitcoin as well as CHF and Ether on Krakens platform. Founded in 2011, the U.S.-based exchange allows customers to buy or sell cryptocurrencies including Bitcoin, Ethereum, Ripple, and Litecoin using various fiat currencies. The company recently joined the Silvergate Exchange Network developed by California-chartered Silvergate Bank, which enabled Kraken users to enjoy real-time, around-the-clock deposits and withdrawals of U.S. dollars without a fee. Besides USD, customers can also fund their accounts with Canadian dollars, euros, British pound sterling, and Japanese yen. CHF will be the sixth fiat currency that Kraken supports. || Litecoin’s falling hash rate is a worrying sign: The Litecoin network is rapidly becoming less secure. Since the new amount ofLitecoinbeing mined was cut in half on August 5, the network’shash rate—computing power that protects the network from attack—has similarly fallen.
Every four years, Litecoin undergoes a halving, where the mining rewards that cryptocurrency miners receive for mining new blocks get cut in half—it’s the same withBitcoin. However, when this happens, it means that miners receive less money when mining new blocks—making it uneconomical to continue spending computational resources earning new coins. While Litecoin founder Charlie Lee argued that miners would continue protecting the network, the miners had other ideas.
Since the latest mining block rewards decline, the total hash rate on the Litecoin mining network has dropped over 60 percent from around 500 TH/s to its current level of just 193 TH/s. It is heading rapidly towards its lowest point since March 2018—at 146 TH/s.
Litecoin proposes privacy upgrade designed with Bitcoin in mind
While this isn’t the first time the network’s hash rate has been in a downturn, it’s falling faster than it has ever before. And this could be a problem for the network’s security.
The reason why a high hash rate is important is because it protects the network from attack. Earlier this year, Ethereum Classic suffered a51 percent attack—where malevolent actors took control of the network by having more hashing power and stole more than $1 million. It was easy to do so because its hash rate was so low. (To put it in context, Ethereum Classic’s hashing power was about 20 times smaller than Litecoin’s is now).
While Litecoin is still harder to attack than Ethereum Classic, there’s more money on the line, making it a bigger target. It has a current market cap of $3.8 billion.
On top of this, the rise of cloud computing is making it easier for hacks to occur. Last year, a crypto enthusiast known as geocold51 live-streamed a 51 percent attack on Bitcoin Private. He toldCoindeskthat using cloud computing and services like Nicehash—where you can rent hashing power—made an attack 100 times cheaper.
After the halving, Leetweeted, “Seems like miners have not shut off their hashrate at all. Instead, we are mining at a rate of a block every 1.4 minutes on average, which is much faster than the expected 2.5 minutes. Litecoin network is healthy!”
But as the network’s hash rate continues to drop, it now presents a different picture. And ifLitecoin’s pricekeeps falling, its hash rate could drop even further. Lee is now working on such radical plans as bringing privacy transactions to Litecoin—will this be enough to turn its fortunes around? || Ex-Morgan Stanley Executives Launch Crypto Derivatives Platform in Singapore: A team of Morgan Stanley veterans has launched a crypto derivatives trading platform, claiming it is faster and more secure than some of the market’s biggest players.
Jack Tao, who served as a senior leader at Morgan Stanley’s electronic trading desk, said he launched Phemex last month with a team of more than 30 developers, including eight executives from the investment banking giant.
Tao left his job at Morgan Stanley in New York and co-founded the crypto trading firm in Singapore in July, envisioning a platform that would be as fast and secure as stock and futures exchanges.
Related:Waves and the Tricky Task of Being a Russian Crypto Brand
The budding firm has made some big promises.
“Phemex is ten times faster than traditional crypto trading platforms with the ability to manage 300,000 TPS – the fastest matching engine online,” said Tao, who specialized in high-frequency trading. No existing platform has achieved such transaction speeds, he said.
Phemex’s architecture can reduce latency so as to deliver an order entry and response time of less than one millisecond while maintaining stable APIs for algorithmic trading, according to Tao.
While crypto trading is fiercely competitive, Tao believes Phemex has a comparative advantage as a small platform.
Related:Bakkt’s Bitcoin Futures Launch in Singapore in Just Two Weeks
“Big trading platforms such as CME [Chicago Mercantile Group] are very great platforms for traditional securities trading, but that’s also why they are relatively slow to adopt emerging technologies and trade digital assets,” Tao said.
Such platforms are more cautious about entering into new markets whereas startups tend to be more experimental with new frontiers, he said.
Phemex offers retail and institutional investors perpetual contracts for bitcoin, ethereum and XRP with up to 100 times leverage. These are similar to futures contracts, except they have no expiration date.
As the exchange gains traction, it plans to also offer contracts backed by traditional financial products, including stock indexes, interest rates and commodities, Tao said.
The ex-Morgan Stanley developers have created their ownhierarchical deterministiccold wallet system. It assigns an independent deposit address to each user to keep assets in the cold wallets directly.
The move to Singapore is aimed at meeting demand in the Asian markets with a more favorable regulatory environment, Tao said. The Monetary Authority of Singapore (MAS)announcedlast month that it would allow crypto-based derivatives to be traded on regulated platforms.
• Blockchain Sleuthing Firm Chainalysis Slashes 20% of Workforce
• Orchid’s Decentralized VPN Network Set for Early-December Launch || Iran offers bounty on crypto mining: Iran has offered a bounty to anyone who exposes the illegal mining of cryptocurrency. Three months ago, Iran launched a crackdown on the illegal use of subsidised electricity for mining currencies like Bitcoin. Anyone who exposes people using state-subsidised power for mining digital currencies will be handed up to 20% of any cash recovered after prosecution, reports Iranian news outlet PressTV. The move follows new regulations over the price of electricity in the country. Iran’s Energy Ministry spokesman Mostafa Rajabi said mining digital currencies using the national electricity grid would be banned during peak hours of consumption in Iran, which he said spanned over 300 hours a year. He added that an average price for the export of electricity, a fixed sum of 9,650 rials ($0.08) for each kilowatt hour (KWh), will be used at other times of the year as a baseline to calculate the price of the power consumed by miners. Reports over the summer showed police hunting down miners in places like abandoned factories and livestock units where prices for electricity are low. Rajabi said the government would offer incentives to those who set up their own power plants for mining digital currencies. In June, Coin Rivet reported how Iranian Bitcoin miners are starting to utilise free energy given to nationwide mosques in order to mine cryptocurrency. According to Oxford University researcher Mahsa Alimardani , Iran reportedly now has 100 miners situated in mosques around the country, earning an estimated annual income of around $260,000. “Mosques receive free energy in Iran. Iranians have set up Bitcoin miners in them. “There’s around 100 here, producing around $260,000 USD a year. This money goes a long way in Iran’s choked sanctioned economy,” Alimardani wrote on Twitter . The post Iran offers bounty on crypto mining appeared first on Coin Rivet .
[Random Sample of Social Media Buzz (last 60 days)]
Bitcoin, Cryptocurrencies Benefit from Futures Markets - Bloomberg https://t.co/MYVBgKgE5F || Con esta noticia, es muy probable que el precio empiece a subir... Ojito al Bitcoin || 📈Pump Alert! - MOF/USDT on Okex! Price increase: 10.83% | Volume: +11.60% - $MOF $USDT #okex #crypto #bitcoin #cryptoalerts #cointrendz
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https://t.co/L7lQSm8otG || @joergmolt Saying you’re the bitcoin cofounder is a little sketchy. The guy who invented it obviously wanted to remain anonymous || @HeartlanderPD @winklevoss Yes of course because the US is the only country on earth that has any btc or internet, right? || USD: 108.570
EUR: 120.930
GBP: 140.500
AUD: 74.512
NZD: 69.572
CNY: 15.340
CHF: 109.778
BTC: 891,438
ETH: 18,795
Wed Oct 23 01:00 JST || A considerar siempre en la compra de #bitcoin es el valor de cambio de tu moneda vs #dolar En especial si haces trading. ¿Tienes considerado el valor de cambio en tu formula? 🤔 || Le prix Bitcoin glisse en dessous de 8700 $ malgré un intérêt ouvert élevé #blockchain #BlockBlog #technologie #tech #startup #entrepreneur #economie #finance https://t.co/m9lfcOXBOW || #CyberSecurity #Hacker [Bitcoin: The Definite Guide to the World of Cryptocurrency Business, Engineering, Investing, Mining, Trading and more] - https://t.co/cXA7gDTzBd - Reviews of Bitcoin: The Definite Guide to the World of Cryptocurrency Business, Engineering, Investing, ...
|
Trend: up || Prices: 7191.16, 7511.59, 7355.63, 7322.53, 7275.16, 7238.97, 7290.09, 7317.99, 7422.65, 7293.00
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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 2016-06-10]
BTC Price: 577.47, BTC RSI: 77.31
Gold Price: 1273.40, Gold RSI: 61.89
Oil Price: 49.07, Oil RSI: 56.96
[Random Sample of News (last 60 days)]
Rocky Mountain Ayre to Launch Crypto-Currency Marketplace: DOVER, DE--(Marketwired - May 10, 2016) - Rocky Mountain Ayre, Inc., a holding company ( OTC PINK : RMTN ) is pleased to announce that it is ready to launch a brand new feature to its Hempcoin website ( www.hempcoin.com ). Hempcoin has developed the first of its kind Crypto-Currency marketplace for goods and services to be offered and purchased using Bitcoin and Hempcoin as the sole means of payment. Users can now offer goods and services for sale on Hempcoin crypto marketplace and get paid with Bitcoin or Hempcoin. The price of the listed products or services in BTC or HMP implicitly changes according to the current rate on the exchanges. This can potentially protect sellers from loss and buyers from over paying due to the constant market price fluctuation of the Crypto- Currencies. Users can also transfer Bitcoin or Hempcoin between each other within seconds without the need to pay any exchange fees. It is a very secure and easy to use. Hempcoin currently trades on two Crypto-Currency exchanges, C-Cex and Yobit , and plans on adding several more in the near future. About Hempcoin Hempcoin (HMP) runs on its own peer-to-peer blockchain like Bitcoin (BTC) but at a faster rate because it is using the script technique like LiteCoin. So in addition to having the advantage of being able to move HMP around faster than BTC, HMP is backed by the marketable securities of RMTN. BTC is strictly a fiat currency like the US Dollar, however, BTC has the potential to go up in value against the Dollar because of supply and demand factors and HMP has this same built in advantage because unlike the Dollar, both BTC and HMP have a limited amount of coins in circulation, while the Dollar is ever increasing in supply. About Rocky Mountain, Inc. Rocky Mountain Ayre, is a publicly traded company listed on the OTCmarkets under the "RMTN" trading symbol. It is a holding company increasing its asset and revenue base through acquisition and/or creation of operating entities. The Company currently has two entities in its portfolio and is focusing its efforts on its Crypto-Currency, Hempcoin, at this time. Safe Harbor Statement This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements. || 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. Story continues 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) || 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. View comments || Traders: How to play stumbles by Apple, Twitter: Two big-name technology stocks have stumbled recently, and "Fast Money" traders on Tuesday debated whether they could recover.
Apple(NASDAQ: AAPL)shares climbed Tuesday, breaking an eight-day slide driven bydisappointing quarterly earnings, iPhone sales and guidance. Twitter(NYSE: TWTR)'s stock, meanwhile, fell 2.7 percent on the day, touching an all-time low during the session. The social media company alsogave a weak outlookwhen it posted quarterly results.
Apple shareholder Pete Najarian said he bought more of the stock last week despite the company's struggles.
"I believe in the company, I believe in where the direction is," he said, adding that long-term investors may benefit from eventual expansion in places like India.
While he noted that India offers "an amazing long-term growth opportunity," trader Dan Nathan believes Apple has more pain ahead. He contended it could slide even more from its current levels.
Turning to Twitter, Nathan said he has been long and "wrong" in the stock. He said the company has had trouble growing its audience but added it could still be a takeover target.
Najarian argued he would stay away from the stock altogether.
"It just is not showing us any life at all," he said.
Trader Brian Kelly acknowledged that Twitter has unique value. He said the company should focus on engaging with the users it has now rather than adding new users.
Disclosures:
Karen Finerman
Karen is long BAC, C, DRII, DRII calls, FB, FL, GOOG, GOOGL, JPM, LYV, KORS, M, SEDG, SPY puts, URI. Her firm is long ANTM, AAPL, BAC, C, C calls, DRII, DRII calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, NRF, PLCE, SPY puts, URI, her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International.
Brian Kelly
Brian Kelly is long BBRY, Bitcoin, GLD, SLV, US Dollar; he is short Australian Dollar, BLK, CS, DB, Euro, EWA, EWH, FRC, Hong Kong Dollar, UBS, Yuan, 5-Year Note Futures
Pete Najarian
Long AAPL, BAC, BMY, CSCO, DIS, DISCA, GE, KMI, KMI.A, KO, LUX, MRK, PEP, PFE, SAVE, VIAB, ZIOP Long Calls: AAL, AGN, AKS, AMJ, COP, EGO, EWZ, HAIN, HBAN, KATE, KBH, KMI, LLY, MSFT, MT, NLNK, SBUX, SLV, SPG, TCK, UAL, YHOO Long Puts: FCX, NOV, PBR, VLO
Dan Nathan
Long PFE Long TWTR, sept risk reversal WMT long May 65 puts GE long May 28 puts XHB long June put spread IWM long Sept 100 put XLB long June put spread XRT long June 45/38 put spread XLF long May/ Sept Put spread HYG long June put spread XLK long Sept Put spread
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• Personal Finance || Bitcoin has a governance problem, no matter who created it: By Jemima Kelly LONDON (Reuters) - As one would-be father of bitcoin falls by the wayside, squabbling among the web-based currency's lead developers is exposing a fundamental flaw: it must evolve to meet growing demand, but may lack a governance structure to achieve this. The latest bickering erupted after Australian entrepreneur Craig Wright promised to prove he was the mysterious creator of bitcoin - which allows users to move money across the world quickly and anonymously - but then said on Thursday he could not provide further evidence to back this up. Wright stopped short of reneging on his claim to be Satoshi Nakamoto, assumed to be a pseudonym for the person or people who launched the digital cryptocurrency in 2009. However, he apologised for damaging the reputations of bitcoin experts who had believed him. Many members of the bitcoin community reckon this is all a distraction and agree with Wright when he said that the identity of Nakamoto "doesn't, and shouldn't, matter". "Satoshi's biggest achievement was to create a system that doesn't require his participation to run," said Peter Todd, one of bitcoin's core software developers. "That's what makes all this stuff kind of funny. It's like searching for the creator of a system that's designed not to require a creator." While grey-suited central bankers print conventional currencies and commercial banks control transactions in them, no one person or entity is in charge of bitcoin. Instead it runs on a decentralised system of shared trust without any third-party verification of transactions - one reason why many people are attracted to it. Critics, however, say it needs a "benevolent dictator" or at least some "adults" to manage the expansion that it needs to cope with the increasing number of transactions. Someone, or some group, must decide how to meet users' requirements, they say. Trades are handled by thousands of "mining" computers around the world which validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. Story continues The first computer to solve the puzzle clears the transaction and is currently rewarded with 25 new bitcoins, now worth around $11,250. (BTC=BTSP). This is how the computers' owners cover their costs - largely power bills - and make a profit. The system also ensures there is no single point in the system that might fail. CIVIL WAR In practice, there do appear to be people who can make decisions, but it is also possible to be excluded from this magic circle. One of the bitcoin experts who initially believed Wright's claim is Gavin Andresen. Nakamoto handed control of bitcoin's software to Andresen when he stepped aside in 2011, a transfer that kept the creator's identity a mystery as it was conducted in cyberspace without human contact. Andresen later shared that control with others. But when he stated publicly he believed Wright, sceptical developers responded by revoking his "commit access" to a shared repository of bitcoin rules. Initially, these developers justified their move on security grounds, saying his computer must have been hacked - something Andresen denied. When Reuters asked Todd whether Andresen's access would be reinstated, he responded: "Heck no", saying a belief in Wright amounted to "inexcusable incompetence". Andresen admitted to bewilderment over whether he still believed Wright's claims. "Ask me in six months; I don't trust my own judgement right now after all the drama," he said on Twitter. The squabbling is not new. One of the lead developers, Mike Hearn, stood down from bitcoin in January because of a power struggle nicknamed the "bitcoin civil war". Hearn and Andresen had proposed increasing the size of the blocks in which transactions are processed but the other developers opposed this. In quitting, Hearn said that "what was meant to be a new, decentralised form of money that lacked systemically important institutions" had now become "a system completely controlled by just a handful of people". Many investors and start-up firms remain optimistic about bitcoin and are making money from it. But Emin Gun Sirer, a computer science professor at Cornell University, said the appearance of internal conflict was undermining it. "For bitcoin to retain its value, it's important to have hope that there's good management in charge, that there are adults in charge," Sirer said. "When we see opportunistic moves, that's a problem." BENEVOLENT DICTATORS But Sirer also said that any open-source project such as bitcoin, which runs using software that anyone can access, change, and distribute, faces the challenge of governance. "Is it a pipe dream to expect to be able to build a currency system that is completely decentralized and free of any control whatsoever? The short answer to that is yes, but that's not what anyone should have expected anyway," he said. Sirer added that he was concerned that his brightest young students at Cornell were being deterred from getting involved with bitcoin because of the in-fighting and the appearance that developers were unable to agree on change. One other digital currency system which is attracting bright young minds is Ethereum, created in 2013 by Russian-Canadian Vitalik Buterin when he was just 19. It works with the "benevolent dictator model", as Sirer calls it, with Buterin holding the decision-making power. "Over the last couple of years it's become apparent that having a static protocol is just not a viable approach," Buterin told the Consensus bitcoin conference in New York earlier in the week. "Software has to evolve ... and there has to be some mechanism for agreeing on how software is going to upgrade." Most, however, reckon that even if Nakamoto were to be found, the other developers - many of whom have written more code than he ever did in the seven years since bitcoin was launched - would not accept his having ultimate power. "(Nakamoto) would be thanked for creating this amazing thing, but if there comes a time when there's a technical debate over whether we should go one way or the other, his opinions would only be persuasive, not controlling," said Jerry Brito, executive director of bitcoin advocacy group Coin Center. (Additional reporting by Toby Sterling in Amsterdam; editing by David Stamp) || The Market In 5 Minutes: Better Late Than Never: 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. Macros Focus Oil prices also ticked higher Tuesday morning as Brent crude futures gained $0.75 to trade at $44.38 per barrel and U.S. crude futures gained $0.45 to trade at $43.89 a barrel. Asian stocks were mostly higher on Tuesday, led by a 2.15 percent gain in Japan's Nikkei index. Japan's Finance Minister Taro Aso said the government is prepared to intervene in the currency market if the nation's currency begins to hurt the economy. President Barack Obama will become the first sitting U.S. president to visit Hiroshima , as well as Japan after the conclusion of the G-7 Summit later this month. Turnover on Chinese commodity exchanges surged by $183 billion. As Bloomberg reports , traders are starting to withdraw as government deters speculation. MarketWatch posted a pretty interesting look at two centuries of U.S. immigration in "one mesmerizing graphic." BZ News Desk Some of last night's and this morning's notable earnings report: SolarCity (NASDAQ: SCTY ) Reports Q1 Adj. EPS $(2.56) vs $(2.31) Est. Q1 Sales $122.57M vs $108M Est. Rackspace (NYSE: RAX ) Reports Q1 Adj. EPS $0.34 vs $0.22 Est., Sales $518.1M vs $519M Est. WWE (NYSE: WWE ) Reports Q1 EPS $0.18 vs $0.10 Est., Sales $171M vs $170.6M Est.; Sees Q2 Average Paid Subs ~1.5M, Adj. OIBDA $5M-$9M SodaStream (NASDAQ: SODA ) Reports Q1 EPS $0.29 vs. Est. $0.11, Rev. $100.9M vs. Est. $89M After today's closing bell, Disney (NYSE: DIS ) is the one to keep an eye on. CNBC pundits recently discussed if investors are overreacting to the company's ESPN segmentation loss. Find out what's going on in today's market and bring any questions you have to Benzinga's PreMarket Prep. Sell-Side Themes The Street was buzzing about SolarCity's and LendingClub's 20+ percent drops. Check Benzinga throughout the day for more analysis. Story continues Sell-Side's Most Noteworthy Calls SunTrust downgrades St. Jude (NYSE: STJ ) to Neutral. Topeka downgrades Gap (NYSE: GPS ) to Hold. Piper Jaffray cut Hasbro (NASDAQ: HAS ) to Neutral. Jefferies started JC Penney (NYSE: JCP ) at Hold. Piper Jaffray initiates coverage on Kroger (NYSE: KR ) at Underweight. Bank of America upgrades Dover (NYSE: DOV ) to Buy. Deal Talk Recode scoop: The second round of bidders in the sale of Yahoo (NASDAQ: YHOO ) have begun holding all-day meetings with Yahoo's top management, including CEO Marissa Mayer, who has been taking front and center stage of the proceedings, according to sources. Long meetings have taken place over the last two weeks and continue this week. Medivation (NASDAQ: MDVN ) will actively seek to sell itself after the U.S. cancer drug maker rejected a $9.3 billion takeover offer from France's Sanofi (NYSE: SNY ), people familiar with the situation told Reuters. The San Francisco-based company has agreed to open its books to both Pfizer (NYSE: PFE ) and Amgen (NASDAQ: AMGN ), those people said. In The News "Hillary Clinton might be on the way to the Democratic presidential nomination but she enters territory that could be considered more favorable to Bernie Sanders on Tuesday with the West Virginia primary," CNN says. "And for the first time on the Republican side, there's only one candidate in the race -- but that doesn't mean there's consensus. Republicans in West Virginia and Nebraska will offer the first glimpse at whether the GOP can rally behind Donald Trump in a general election." Migrants are trying to make a living on the Greek side of the Macedonian border, where about 10,000 people have set up Europe's biggest refugee camp and are showing signs of settling in for the long term. They are turning to business to survive. A better prostate cancer test? Wall Street Journal dives into several new prostate cancer tests that aim to reduce needless biopsies and unnecessary treatments by sorting out harmless from aggressive tumors. Blogosphere Bitcoin isn't the answer to Central Bank woes. Leonid Bershidsky says, "This imaginary world of effectively socialized money is being seriously discussed by researchers and central bankers alike." "You have built a business that works really well for you and for Google, but it doesn’t work well for artists," legendary manager Irving Azoff wrote in an open letter to Google's (NASDAQ: GOOGL ) YouTube. Redditors are debating Tesla's (NASDAQ: TSLA ) cash flow. One user says, "If you look at a short term and long term liquidity analysis it's all red flags. Imminent bankruptcy." Trending SCTY AGN BBRY LL OMER KNDI GPS DIS SEDG WWAV SODA CROX NLNK VNET DF [StockTwits] It was reported that Steph Curry will win the NBA's Most Valuable Player award for the second straight season. In true MVP fashion, the shooting star returned to the Golden State Warriors lineup last night, scoring 40 points off the bench and leading the team to an overtime victory in the second round of the NBA playoffs. See more from Benzinga The Market In 5 Minutes: Monday, May 9, 2016 The Market In 5 Minutes: The Most Exciting Two Minutes In Sports Synergy Pharma Seen 'Weighing' Options, Sell-Side Forecasts Upside Regardless Of M&A Rumors © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || "I'm sorry" - Craig Wright on lack of evidence he created bitcoin: By Jemima Kelly LONDON (Reuters) - Australian tech entrepreneur Craig Wright, who earlier this week said he would provide "extraordinary proof" that he was the creator of digital currency bitcoin, will not provide any further evidence, according to a post on his blog on Thursday. Although Wright did not renege on his claim to be Satoshi Nakamoto - the name, assumed to be pseudonymous, of the person or group who created the web-based currency in 2008 - the U-turn was taken by many bitcoin experts as confirmation of their suspicions that the claims were false. "I believed that I could do this. I believed that I could put the years of anonymity and hiding behind me," Wright wrote. "But, as the events of this week unfolded and I prepared to publish the proof of access to the earliest keys, I broke. I do not have the courage. I cannot." Bitcoin is a web-based "cryptocurrency" that enables users to move money across the world quickly and anonymously without the need for third-party verification. Various attempts have been made to identify its elusive creator, but Wright's claims stood out due to the high-profile endorsements they received. Lead bitcoin developer Gavin Andresen and bitcoin consultant Jon Matonis both wrote blogs on Monday endorsing Wright's claims, saying they had been shown proof by Wright that he was Nakamoto. Wright said on Thursday that Andresen and Matonis had not been deceived, but "that the world will never believe that now". "I think he's significantly less likely to be Satoshi than any other person that's been suggested," another lead bitcoin developer, Peter Todd, told Reuters, referring to others who have been suspected of being bitcoin's creator. "PLAIN FISHY" After coming under pressure to provide more credible evidence that he was bitcoin's creator, Wright had blogged on Monday that he would provide "independently verifiable documents and evidence" that would back up his claims. The post could no longer be found on his blog site. "The possibility that Wright is Satoshi will always exist, but given the amount of evidence calling that into doubt, I think one would be foolish to give that possibility much weight," said Jerry Brito, executive director of Washington, D.C.-based digital currency advocacy group Coin Center. "He's provided no cryptographic evidence verifiable by the public, and many of his answers sound plain fishy... Today's statement on his blog only further tarnishes his credibility." Wright's representatives declined to give any comments on his decision to back away from providing further evidence, but said he was still their client. They believed he was still in London, where he has been living for the past few months. Interviews with some who had done business with Wright in Australia in December, when reports by Wired and Gizmodo that he could be Nakamoto first emerged, and an inspection of documents published by the two tech news websites, painted a complex picture of Wright. They pointed to a smart but sometimes abrasive figure facing growing legal and financial problems at least in part caused by his involvement with bitcoin. Each bitcoin is currently worth around $447 , making the 15 million or so in circulation worth a total of around $7 billion. Wright said his failure to produce better evidence would cause "great damage to those that had supported" him, in particular Matonis and Andresen. "I can only say I'm sorry. And goodbye," Wright wrote. (Reporting by Jemima Kelly; Editing by Toby Chopra) || 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 Andresens, supported Wrights claims. Story continues 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 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) || Bitcoin has a governance problem, no matter who created it: By Jemima Kelly
LONDON (Reuters) - As one would-be father of bitcoin falls by the wayside, squabbling among the web-based currency's lead developers is exposing a fundamental flaw: it must evolve to meet growing demand, but may lack a governance structure to achieve this.
The latest bickering erupted after Australian entrepreneur Craig Wright promised to prove he was the mysterious creator of bitcoin - which allows users to move money across the world quickly and anonymously - but then said on Thursday he could not provide further evidence to back this up.
Wright stopped short of reneging on his claim to be Satoshi Nakamoto, assumed to be a pseudonym for the person or people who launched the digital cryptocurrency in 2009. However, he apologized for damaging the reputations of bitcoin experts who had believed him.
Many members of the bitcoin community reckon this is all a distraction and agree with Wright when he said that the identity of Nakamoto "doesn't, and shouldn't, matter".
"Satoshi's biggest achievement was to create a system that doesn't require his participation to run," said Peter Todd, one of bitcoin's core software developers. "That's what makes all this stuff kind of funny. It's like searching for the creator of a system that's designed not to require a creator."
While gray-suited central bankers print conventional currencies and commercial banks control transactions in them, no one person or entity is in charge of bitcoin. Instead it runs on a decentralized system of shared trust without any third-party verification of transactions - one reason why many people are attracted to it.
Critics, however, say it needs a "benevolent dictator" or at least some "adults" to manage the expansion that it needs to cope with the increasing number of transactions. Someone, or some group, must decide how to meet users' requirements, they say.
Trades are handled by thousands of "mining" computers around the world which validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes.
The first computer to solve the puzzle clears the transaction and is currently rewarded with 25 new bitcoins, now worth around $11,250. (BTC=BTSP). This is how the computers' owners cover their costs - largely power bills - and make a profit. The system also ensures there is no single point in the system that might fail.
CIVIL WAR
In practice, there do appear to be people who can make decisions, but it is also possible to be excluded from this magic circle.
One of the bitcoin experts who initially believed Wright's claim is Gavin Andresen. Nakamoto handed control of bitcoin's software to Andresen when he stepped aside in 2011, a transfer that kept the creator's identity a mystery as it was conducted in cyberspace without human contact.
Andresen later shared that control with others. But when he stated publicly he believed Wright, skeptical developers responded by revoking his "commit access" to a shared repository of bitcoin rules.
Initially, these developers justified their move on security grounds, saying his computer must have been hacked - something Andresen denied. When Reuters asked Todd whether Andresen's access would be reinstated, he responded: "Heck no", saying a belief in Wright amounted to "inexcusable incompetence".
Andresen admitted to bewilderment over whether he still believed Wright's claims. "Ask me in six months; I don't trust my own judgment right now after all the drama," he said on Twitter.
The squabbling is not new. One of the lead developers, Mike Hearn, stood down from bitcoin in January because of a power struggle nicknamed the "bitcoin civil war".
Hearn and Andresen had proposed increasing the size of the blocks in which transactions are processed but the other developers opposed this. In quitting, Hearn said that "what was meant to be a new, decentralized form of money that lacked systemically important institutions" had now become "a system completely controlled by just a handful of people".
Many investors and start-up firms remain optimistic about bitcoin and are making money from it. But Emin Gun Sirer, a computer science professor at Cornell University, said the appearance of internal conflict was undermining it.
"For bitcoin to retain its value, it's important to have hope that there's good management in charge, that there are adults in charge," Sirer said. "When we see opportunistic moves, that's a problem."
BENEVOLENT DICTATORS
But Sirer also said that any open-source project such as bitcoin, which runs using software that anyone can access, change, and distribute, faces the challenge of governance.
"Is it a pipe dream to expect to be able to build a currency system that is completely decentralized and free of any control whatsoever? The short answer to that is yes, but that's not what anyone should have expected anyway," he said.
Sirer added that he was concerned that his brightest young students at Cornell were being deterred from getting involved with bitcoin because of the in-fighting and the appearance that developers were unable to agree on change.
One other digital currency system which is attracting bright young minds is Ethereum, created in 2013 by Russian-Canadian Vitalik Buterin when he was just 19. It works with the "benevolent dictator model", as Sirer calls it, with Buterin holding the decision-making power.
"Over the last couple of years it's become apparent that having a static protocol is just not a viable approach," Buterin told the Consensus bitcoin conference in New York earlier in the week. "Software has to evolve ... and there has to be some mechanism for agreeing on how software is going to upgrade."
Most, however, reckon that even if Nakamoto were to be found, the other developers - many of whom have written more code than he ever did in the seven years since bitcoin was launched - would not accept his having ultimate power.
"(Nakamoto) would be thanked for creating this amazing thing, but if there comes a time when there's a technical debate over whether we should go one way or the other, his opinions would only be persuasive, not controlling," said Jerry Brito, executive director of bitcoin advocacy group Coin Center.
(Additional reporting by Toby Sterling in Amsterdam; editing by David Stamp) || Winklevoss digital currency exchange expands into Canada: By Gertrude Chavez-Dreyfuss
NEW YORK, June 6 (Reuters) - Gemini Trust Co, the U.S.-based bitcoin exchange founded by investors Tyler and Cameron Winklevoss, has opened trading in Canada, marking the start of an international expansion program.
In an interview late on Friday, Gemini Chief Executive Officer Tyler Winklevoss said Canadian citizens would only be able to trade bitcoin and ether on the exchange for now.
Trading bitcoin and ether against fiat currencies such as the dollar will take a few weeks, Winklevoss said, adding that no regulatory approval was needed to operate in Canada.
Winklevoss said Gemini would open another international location over the next two weeks.
Digital currencies have gained popularity among investors as major financial institutions such as Goldman Sachs Group Inc and global technology companies such as International Business Machines Corp try to unlock the potential uses and applications of these assets' underlying technology, the blockchain.
The blockchain is a database that enables a network of computers to validate, clear, settle, track, and record the ownership of assets as they are traded.
Ether, an alternative currency that differs from bitcoin, is a token or digital asset of the Ethereum platform, a public blockchain.
"We decided to open first with the bitcoin and ether order book," said Winklevoss. "We think there's great demand for that; there are a lot of people who own bitcoin, and they don't have a safe place to store them."
He added that most bitcoin and ether investors were trading on unregulated and unlicensed exchanges.
Gemini last month became the first and so far only exchange that New York state allows to trade ether, Winklevoss said.
Volume on Gemini since ether started trading on the exchange has grown steadily, he said.
"Over the last 30 days, we have traded approximately $30 million in notional value of both bitcoin and ether."
Bitcoin on Monday traded at $582.79 on the Bitstamp platform, with a market capitalization of $9.1 billion, according to crypto-currency data website coinmarketcap.com.
Ether, the second-largest digital currency behind bitcoin, last changed hands at $13.92 and had a market capitalization of about $1.1 billion.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Lisa Von Ahn)
[Random Sample of Social Media Buzz (last 60 days)]
LIVE: Profit = $663.70 (8.28 %). BUY B19.40 @ $420.00 (#VirCurex). SELL @ $448.60 (#Kraken) #bitcoin #btc - http://www.projectcoin.org || LIVE: Profit = $829.69 (10.43 %). BUY B19.24 @ $420.00 (#VirCurex). SELL @ $456.98 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || $454.51 at 15:45 UTC [24h Range: $452.00 - $455.24 Volume: 2925 BTC] || 1 #bitcoin 1202.98 TL, 428.351 $, 380.100 €, GBP, 28000.00 RUR, 47204 ¥, CNH, CAD #btc || LIVE: Profit = $556.76 (6.95 %). BUY B19.40 @ $420.00 (#VirCurex). SELL @ $443.08 (#Kraken) #bitcoin #btc - http://www.projectcoin.org || #Telmi Bitcoin und Euro: 0.0010 BTC = 0.52 EUR 1.00 EUR = 0.0019 BTC Konverter http://dlvr.it/LVXRRs || #BTA Price: Bittrex 0.00001639 BTC YoBit 0.00001616 BTC Bleutrade 0.00001700 BTC #BTA 2016-05-12 12:00 pic.twitter.com/ynfK2cQb9w || $457.99 at 19:00 UTC [24h Range: $454.72 - $457.99 Volume: 1521 BTC] || LIVE: Profit = $827.01 (10.40 %). BUY B19.24 @ $420.00 (#VirCurex). SELL @ $456.80 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || $428.65 at 03:00 UTC [24h Range: $423.07 - $430.00 Volume: 4190 BTC]
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Trend: up || Prices: 606.73, 672.78, 704.38, 685.56, 694.47, 766.31, 748.91, 756.23, 763.78, 737.23
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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 2015-03-06]
BTC Price: 272.72, BTC RSI: 62.32
Gold Price: 1164.10, Gold RSI: 27.53
Oil Price: 49.61, Oil RSI: 48.55
[Random Sample of News (last 60 days)]
Is Bitcoin Speculative Foolery or a Financial Services Breakthrough?: While the Internet-based currency Bitcoin has been a big headline-grabber, I have always considered it to be more speculative foolery than transformative technology. But one of my fellow CNBC contributors, Brian Kelly -- a Bitcoin authority and author of the new book, The Bitcoin Big Bang -- convinced me to learn a bit more about it. While I havent become a full-fledged Bitcoin believer, in speaking with Kelly and reading his book, I have come to appreciate the applications for the technology and believe that it may be useful in the future. Here is some of what he says makes bitcoin a breakthrough for financial services and why he thinks that it is something that small business should pay more attention to. Related: Why Shark Tank's 'Mr. Wonderful' Thinks Women Make Better CEOs Roth: Ive always thought that Bitcoin is a fad that will end badly. What am I missing? Kelly: The biggest thing that people miss is that Bitcoin is more than just a currency. There are two parts: Bitcoin with a small 'b' is the currency, while Bitcoin with a big 'B' is the revolutionary technology also known as the blockchain. The blockchain technology allows value transfer between two unknown parties without the use of a middleman -- this is the first time in the history of money that this has happened. So, if the technology is the important part of bitcoin, how do you think Bitcoin will be embraced and used differently in the future? In my view, the Bitcoin technology will be the backbone of the financial system. People may be using Bitcoin and may not even realize it since it will simply be the infrastructure that the financial system runs on. Do you think that small businesses can benefit from using bitcoin? If so, how? The small-business angle currently is a cost play. For example, with a company like BitPay, a small business that accepts bitcoin may be able to save $3,000 a month for every $100,000 in sales versus traditional payment systems, such as Visa, Mastercard, Paypal, Square, etc. Story continues You also say that bitcoin helps facilitate the globalization of small businesses. Can you speak more about that? Think about global small-business use in the context of international wire transfers. For example, I have a few contractors that reside in Switzerland and the United Kingdom. In order to pay their invoices, I would typically go to the bank, spend 30 minutes filling out paperwork, pay a big fee for the wire transfer and wait all day for confirmation. Additionally, there is a cost for the foreign currency exchange. Related: Why Smart People Make Bad Entrepreneurs Instead, now I pay in bitcoin. It costs me nothing, it arrives in seconds and there are no FX translation costs. Bitcoin effectively removes the challenges of transacting business in differing currencies and allows for quick transactions that are lower in cost. If a small business wants to get started using Bitcoin, what should it do first? The easiest way for a small business to start using Bitcoin is through a payment processor like Coinbase or BitPay. Coinbase has a very easy, user friendly button for websites; it is similar to adding a PayPal button to your website. If you need an enterprise-level solution, then BitPay is a great choice; they can integrate with your current accounting system. BitPay just signed a deal with Microsoft to provide a bitcoin payment option. What risks are there for small businesses using bitcoin? Right now, the biggest risk is the currency fluctuation, but most payment processors offer an immediate conversion to fiat (meaning a local currency, such as the U.S. dollar) which eliminates that risk. While I believe Bitcoin is not going away, entrepreneurs need to keep in mind that it is an emerging technology and just like the earlier Internet, it is bound to have a few hiccups. Related: Never Hire a Honey Badger || Avra, Inc. Appoints Industry Expert Barry Johnson as Data Security Manager: GREENVILLE, SC--(Marketwired - Jan 8, 2015) - Avra, Inc. ( OTCQB : AVRND ) ("Avra" or the "Company") a development stage company engaging in product innovation and activation of merchant and consumer commerce in the global Bitcoin-related digital currencies market, is pleased to announce the appointment of Mr. Barry Johnson to the position of Consulting Data Security Manager. Mr. Johnson brings over twenty years of managerial, security, and engineering experience for commercial and government organizations. He has advised Fortune 500 and Fortune 1000 companies on a number of security and technology issues. "Mr. Johnson is an industry leader in data security and we are pleased to have him join the team here at Avra," states Steve Shepherd, Avra, Inc. CEO. "His experience, qualifications and reputation throughout the industry are impeccable. Barry will significantly aid Avra to provide the highest level of protection to both our consumers and industry partners." "Avra has committed to the application of data security at a level that meets or exceeds the current Payment Card Industry data security standards. The Company's voluntary accountability through the strict adherence to these standards, is truly what the digital currency industry needs today," stated Mr. Johnson. He went on to comment, "I am excited to join Avra, Inc. in the delivery of their platform. Their desire to implement security measures above and beyond those found in today's published standards within their solution only cements their commitment of security and privacy to the Bitcoin community." Mr. Johnson is certified as a PCI-DSS & P2PE Qualified Security Assessor (QSA) and Payment Card Information Professional (PCIP), Payment Application Qualified Security Assessor (PA-QSA), and ISO 27001 Lead Auditor. He possesses broad experience in regulatory requirements at the state, federal and industry levels, including the Gramm-Leach-Bliley Act (GLBA), Health Insurance Portability and Accountability Act (HIPAA), CJIS compliance, Sarbanes-Oxley Act (SOX), Family Education and Rights Privacy Act (FERPA), and Payment Card Industry (PCI). Story continues For more information please visit our website at: www.avraglobal.com . About Avra, Inc. ( OTCQB : AVRN ) Avra, Inc. is focused on solutions in the digital currency markets, particularly in offering payment solutions to businesses worldwide. The Company's business model is divided into four distinct categories: AvraPay: to develop a complete, turn-key and painless way for merchants to accept Bitcoin as Payment; AvraATM: to promote usage and acceptance of digital currencies through the Company's proposed network of ATMs; AvraTourism: to provide cryptocurrency payment processing solutions for merchants such as hotels and casinos; AvraNews: to provide a news portal focusing on digital currency news. For more information about the Company please visit: www.avraglobal.com . Additional information regarding Avra, Inc. and its regulatory filings can be found at www.sec.gov . Forward Looking Statements Some information in this document constitutes forward-looking statements or statements which may be deemed or construed to be forward-looking statements, such as the closing of the share exchange agreement. The words "plan", "forecast", "anticipates", "estimate", "project", "intend", "expect", "should", "believe", and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in the Company's filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to Avra Inc., herein are expressly qualified in their entirety by the above-mentioned cautionary statement. Avra Inc., disclaims any obligation to update forward-looking statements contained in this estimate, except as may be required by law. || U.S. bitcoin exchange makes debut: NEW YORK, Jan 26 (Reuters) - Bitcoin payments processor Coinbase on Monday opened a regulated exchange in the United States for trading the virtual currency, the company said. Launched just days after Coinbase raised $75 million from blue-chip financial institutions such as the New York Stock Exchange, the Coinbase Exchange was meant to help stabilize the bitcoin network, which has no central regulator or overseer, the company said. Coinbase users in 24 states and U.S. territories can immediately trade on the exchange, which will charge no fees through March 30, according to a blog post by the San Francisco-based company. Details of the new exchange's volumes were not immediately available. The value of highly volatile bitcoin was up 5.2 percent on Monday afternoon at $265.49, according to Thomson Reuters data. (Reporting By Michael Connor; Editing by Jonathan Oatis) || igot.com Acquires TagPesa, Continues Momentum in Kenya: SYDNEY, AUSTRALIA and NAIROBI, KENYA--(Marketwired - Feb 26, 2015) - igot (www.igot.com), the fastest-growing Bitcoin exchange in the world targeting the international remittance market, today announced its acquisition of Kenya's TagPesa crypto exchange and remittance gateway. In addition, the exchange also was granted access to M-Pesa, giving members the ability to cash out directly from the country's mobile payment system.
igot was created to enable people to easily buy, sell, send, and receive Bitcoin around the globe, and is open for business in over 40 countries, including the European Union and parts of the Middle East and Africa. Customers have full access to all exchange features and are able to deposit and withdraw from their local fiat currency bank accounts. In addition, 90 percent of igot's Bitcoins are kept offline in hack-proof "cold storage" facilities spread around the globe, providing additional peace of mind.
"Over 2.5 million Kenyan emigrants around the world send money home to their families. igot aims to make these transactions as easy, fast and convenient as possible," said Rick Day, co-founder of igot. "In 2014, remittance inflows to Kenya increased by USD 137 million or (11 percent) to USD 1,428.5 billion. The average remittance transaction costs the emigrant sender between 5 percent and 9 percent. With a flat 1 percent transaction fee, we expect to get a lot more traction as Bitcoin becomes more ubiquitous."
There is no charge for sending or receiving Bitcoin amongst igot users. Furthermore,igot.comis designed to always be completely transparent regarding its fees -- users will always know the exact cost of each transaction with complete certainty.
In 2012, according to the World Bank, about 60 percent of remittance payments were physically carried by friends and family across borders and 0 percent were transmitted via the Internet. With the deep and growing market penetration of mobile phones around the world, including developing nations, it is predicted that more and more people will seek to use services such as igot, with its bank-level security, encryption and other security measures, to safely and conveniently move money between countries.
Targeting the international remittance market, igot leads precisely where cryptocurrency transactions are most useful and needed. While working to simplify the currency exchange process -- and introducing professional-level transparency and compliance -- igot is rapidly expanding into countries around the globe from its home base in Australia. These include Dubai, Hong Kong, India, New Zealand, Singapore and Germany, to name just a few, with entry into the North American and Mexican markets planned for later this year.
About igotFounded in Australia in 2013, igot (www.igot.com) is the fastest-growing Bitcoin exchange in the world targeting the international remittance market. While working to simplify the currency exchange process -- and introducing professional-level transparency and compliance -- igot is rapidly expanding into countries around the globe: Dubai, Hong Kong, India, New Zealand, Singapore and Germany, to name just a few of the 40 nations. For more information or to sign up for an account, please go towww.igot.com.
All product and company names herein may be trademarks of their registered owners.
SEO tags: bitcoin, crypto currency, remittance, M-Pesa, Tag-Pesa, Bit-Pesa
KENYA PRESENTATIONhttp://screen.willremind.me/013b0Y2R0m45 || Bitcoin exchange Bitstamp says to resume trading on Friday: LJUBLJANA (Reuters) - Bitstamp, one of the largest exchanges for the digital bitcoin currency, said it would resume trading later on Friday after suspending operations because of a security breach on Sunday.
Bitstamp had suspended its service after the breach resulted in the loss of around 19,000 bitcoins with a value of some $5 million.
"Trading will resume during the day today," Damijan Merlak, one of Bitstamp's two Slovenian founders, told Reuters in an emailed message on Friday.
On Wednesday Bitstamp had said it expected that trading could resume within 24 hours and added that customers would not lose money because of the breach and that security would be increased.
Merlak said various institutions from the European Union and the United States were investigating the security breach without naming them. The Slovenian police told Reuters it was not involved in the investigation.
Last February, Bitstamp claimed that developers had come up with a solution to thwart cyber attacks against its platform after Mt. Gox, once the world's biggest bitcoin exchanges, lost an estimated $650 million worth of the virtual currency when its computer system was hacked.
The Bitstamp breach represented a small fraction of its total bitcoin reserve and the majority was held in secure offline systems, the Slovenia-based firm posted on its website. (http://bit.ly/1eTIPEt)
Bitcoin, the best-known virtual currency, started circulating in 2009. Unlike conventional money, bitcoin is generated by computers and is independent of control or backing by any government.
A bitcoin is currently worth $276.80.
Merlak, 28, and his colleague Nejc Kodric, 25, both computer experts, founded Bitstamp in 2011. According to the Slovenian media the two had earned about 23 million euros ($27.2 million) from the enterprise which places them among the 50 richest Slovenians.
($1 = 0.8469 euros)
(Reporting By Marja Novak; editing by Keith Weir) || Shazam Is Now A Billion-Dollar Company: Ryoichi Tanaka/Flickr (CC)
Shazam just joined the billion-dollar club.
The music discovery startup has closed a new round of funding for $30 million, the Wall Street Journal is reporting, with a valuation of around $1 billion. It's double what the company was valued at a year ago.
The investors now own 3% of the company — but their identities haven't been disclosed. We do know they haven't invested before, however.
Shazam is an app that identifies music for its users through their smartphone's microphone. Since the company's 2002 launch it's grown to have more than 100 million monthly users across the globe. But despite this, it hasn't turned a profit since 2006.
Shazam is "intentionally not profitable," investing whatever it makes,CEO Rich Riley told the Wall Street Journal. And the company is highly ambitious, looking to move beyond just music identification. "Our vision is to connect people to the world around them," Riley said. "It is still early days. People aren't yet used to 'Shazaming' print ads and soda cans and that kind of stuff, but we think that is where the world's going."
It's a strategy that could take it on a collision course with other tech companies. It's similar to Google's less-used Google Goggles optical recognition software, discovery apps are likely to grow in the coming years. But it's also necessary, as other products begin to encroach on Shazam's turf. Google now offers its own rival,Sound Search, which has been downloaded more than 10 million times.
Less than a year ago,a funding round for $20 million pegged the company's total valuation at $500 million, half what it is today. Previous investors haveincluded billionaire Carlos Slim, as well as Institutional Venture Partners, DN Capital, and Kleiner Perkins Caufield & Byers.
More From Business Insider
• A Bitcoin Startup Just Set A Massive New Record For VC Funding in The Industry
• Palantir, Already Valued At $15 Billion, Is Looking For More
• China Just Announced A Massive New $6.5 Billion Venture Capital Fund || Hong Kong warns over digital currencies amid alleged bitcoin fraud: By Michelle Price HONG KONG (Reuters) - Hong Kong's central bank has warned people against investing in virtual currencies amid local media reports that a bitcoin exchange may have run off with $387 million in client funds - making it potentially the biggest bitcoin scandal after last year's bankruptcy at Tokyo-based Mt.Gox. The South China Morning Post reported on Monday that clients of Hong Kong-based MyCoin had approached a local lawmaker alleging the company absconded with their money. An assistant for Legislative Council member Leung Yiu-chung told Reuters that Leung had received more than 15 complaints from MyCoin clients regarding the alleged fraud, and these would be passed on to the police on Wednesday. The Hong Kong Monetary Authority (HKMA) said in a statement late on Monday that the case "may involve fraud or pyramid schemes," adding: "Given the highly speculative nature of Bitcoin, we have all along urged the public to exercise extra caution when considering making transactions or investments with Bitcoin." Calls to MyCoin in Hong Kong could not be connected. Calls to the company's China customer service line were not answered. Bitcoins are created through a 'mining' process where a computer's resources are used to perform millions of calculations. Advocates say the virtual currency is revolutionary as it's not controlled by a central bank and has potential as an alternative means of online payment. But the rise of bitcoin, which is unregulated in many countries including Hong Kong, has stoked concerns it can be used as a vehicle to launder money and finance extremist groups. Mt.Gox, once the world's largest bitcoin exchange, filed for bankruptcy a year ago after it claimed to have lost around $500 million worth of customer bitcoins in a hacking attack. On its website, MyCoin claims to be a "leading global Bitcoin trading platform and application service provider," with a China-based research and development team. Story continues MyCoin promised clients a HK$1 million ($128,976) return over a 4-month period based on a HK$400,000 investment that would produce 90 bitcoins on maturity, the South China Morning Post reported, adding MyCoin claimed to have 3,000 customers each investing an average of HK$1 million. The price of a bitcoin has slumped from a late-2013 high of above $1,000 to around $220, according to CoinDesk's price index. ($1 = 7.7534 Hong Kong dollars) (Additional reporting by Anne Marie Roantree; Editing by Ian Geoghegan) || Bitcoin Makes Its Way To The Polls: The technology that powers bitcoin, blockchain, has been hailed by many as one of the greatest technological advances of the decade. Although bitcoin is still struggling to take hold as a mainstream currency, uses for the ledger-like technology of blockchain are already being explored for everything from creating contracts to holding online auctions. The Bitcoin Foundation is hoping to draw even more attention to blockchain capabilities by partnering with Swarm, a crowdfunding firm, to use blockchain technology to vote in two new board members. An Experiment The process will be the first time a vote has taken place using blockchain technology, and Bitcoin Foundation Executive Director Patrick Murck warned that there will likely be a few hiccups along the way. Voters will be provided with "yes" and "no" coins which they can send to each candidate's wallet to express their choice. Critics Say System Is Flawed Since the voting began, there has been a heated discussion as to whether or not blockchain is effective when it comes to voting. Many worry that miners will be able to manipulate the system by filtering out coins from one candidate or another, while others complained that about the system being difficult to use. Related Link: Is Bitcoin The Next Internet? An Important Venture Despite criticism, the Bitcoin Foundation is pressing ahead and is set to close the voting platform on February 28 and release results on March 1. Murck defended the foundation's decision to press on with blockchain voting, saying that the complaints about the system were important if developers want to continue pushing blockchain into new industries. Although the first blockchain-based vote may not be a success, Murck says it is an important step for the technology's forward momentum. See more from Benzinga Will 3D Printing Be A Part Of The Future? Retailers Quickly Find Use For Influx Of Consumer Cash Internet Regulation Vote Unlikely To End Net Neutrality Fight © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Canada's Largest Bitcoin Exchange CAVIRTEX Integrates with Vogogo: Vogogo also integrates two further exchangesBitcoin Brains & Taurus Exchange.
CALGARY, ALBERTA & PALO ALTO, CALIFORNIA /ACCESSWIRE /JANUARY 22nd, 2015- Payment processing compliance & fraud mitigation specialistVogogo Inc.(TSX VENTURE:VGO) today announced signed contracts with Canada's largest bitcoin exchange,CAVIRTEXand two further exchangesBitcoin Brains&Taurus Exchange.
CAVIRTEX is Canada's first and largest bitcoin exchange. In its three years of operation, it has facilitated over $100 Million in trading between individuals, merchants, and market makers. In addition to being an exchange, CAVIRTEX offers merchant solutions, debit cards and prepaid Mastercards.
Bitcoin Brains is an innovative Calgary-based exchange and the first of its kind with a bricks and mortar store.
Vancouver-based Taurus exchange is a sophisticated trading platform utilizing multi-signature wallet technology to secure customer funds. The exchange operates on the USD and CAD markets.
It is expected that each of the exchanges will be fully integrated with Vogogo's payment processing and risk management platform enabling them to offer users of their respective exchanges seamless transactions between bitcoin and fiat currencies in the US and Canada, with EU processing expected to come online during Q1 of 2015.
Through the latter half of 2014 Vogogo prepared its payment processing and risk management platform to effectively service the crypto industry. Vogogo is now actively boarding new crypto based clients onto the Vogogo platform with anticipation of reaching commercial processing volumes during Q1, 2015.
Vogogo CEO Geoff Gordon said of the announcement, "Being the chosen provider of payment processing and risk management services by well established crypto-exchanges as well as the new and emerging players in the industry, I believe, speaks to our capabilities and reputation. We look forward to working with these teams and helping them to unlock new and lucrative markets during 2015."
"Our focus is making it easy for Canadians to seamlessly transition between bitcoin and the Canadian Dollar." said Joseph Onorati, CEO of CAVIRTEX. "As Canada's largest and most trusted digital currency exchange, we are always looking for services that enhance our offering. By integrating Vogogo with our platform we are making bitcoin more accessible to Canadians."
--ENDS--
AboutVogogo
Vogogo is a TSX Venture Exchange ("TSXV") publicly traded payment services company with integrated risk management and compliance. Founded in 2008, Vogogo designed, built andlaunched its web-based payment processing technology while growing its expertise in software development, payments, risk management, compliance and related financial services. Vogogo is now executing on its plan to serve global markets. The plan focuses on market opportunities where Vogogo believes it has a competitive advantage due to its positioning and technology.
For further company information please view theVogogo Media Kit
For information or interview please contact:
Geoff Gordon
Chief Executive Officer
403-648-9292
Rodney Thompson
Chief Relationship Officer
403-648-9292
AboutCAVIRTEX
CAVIRTEX is Canada's first and largest bitcoin exchange. In its three years of operation, CAVIRTEX has facilitated over $100 Million in trading between individuals, merchants, and market makers. In addition to being an exchange, CAVIRTEX offers merchant solutions, debit cards and prepaid Mastercards. For more information about CAVIRTEX, please go towww.cavirtex.com.
AboutBitcoin Brains
Since 2013, Bitcoin Brains has been pioneering what can be done with bitcoin in a brick and mortar establishment. As the first store of its kind anywhere, Bitcoin Brains offers brokerage services, bitcoin mining equipment sales, rentals, setup and consulting as well as point of sale solutions for merchants and charities.
AboutTaurus Exchange
Taurus is an upcoming Canadian bitcoin exchange that will operate on the CAD market. It is based in Vancouver, Canada and is run by Founder and CEO Yuri Yerofeyev who has experience in bitcoin trading, business and customer service and is a director of The Bitcoin Co-op. The client-focused exchange runs on a sophisticated trading platform and utilizes the multi-signature wallet technology to secure customer funds.
READER ADVISORY
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
None of the information contained on, or connected to, Vogogo's website is incorporated by reference herein.
Cautionary Note Regarding Forward-Looking Statements
Statements in this press release contain forward-looking information including, without limitation, timing for integration of the Vogogo platform with CAVIRTEX, Bitcoin Brains and Taurus Exchange, expansion plans of Vogogo and anticipated dates for commercial trading volumes. The words "will," "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "should," and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by Vogogo. Readers are cautioned that assumptions used in the preparation of such 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 Vogogo. Vogogo does not have any obligation to update or revise any forward-looking statements except as expressly required by applicable securities laws.
SOURCE:Vogogo Inc. || Bitcoin Could Make Banking A Possibility In Africa: Bitcoin has been the subject of a widespread debate over whether or not cryptocurrencies will catch on and become a viable currency adopted across the world.
While the current user base remains relatively small and confined to the tech crowd, some saybitcoin may findits calling in poor areas where banking is almost non-existent.
Banking Options In Africa Limited
In Africa, the majority of the population does not have a bank account and relies on money transfer operators like Western Union and MoneyGram in order to send and receive cash.
However, the fees for such services are typically around 12 percent; meaning families who are often in dire need of every cent are missing out on a sizable portion of cash because of the service charge.
Blockchain Reduces Service Charges
Enter bitcoin. Supporters for the cryptocurrency say bitcoin’s blockchain technology would allow individuals to transfer money to one another with drastically lower service charges and much shorter wait times.
In Ghana,Beamis one business that has already started to make this idea a reality. The company allows people to convert bitcoin that has been sent from abroad into the local currency for just a 3 percent service fee.
The company’s founders are also planning “Value Remittances”, a service that will give people in other countries the ability to pay Ghanaians’ water and electric bills using bitcoin.
Bitcoin Isn’t Ready To Service Africa
Although the benefits of using bitcoin in Africa are plentiful, critics say the cryptocurrency hasn’t come far enough to be a viable option. Many banks around the world are still wary about using the currency and merchants in Africa have yet to adopt bitcoin as a payment method.
Additionally, a sense of mistrust will likely keep Africans themselves from wanting to use bitcoin and their experience using Western Union or MoneyGram is likely to keep them coming back.
Related Link:New York Weighs Benefits Of Bitcoin Integration
Volatility An Issue
Bill Gatesremarked earlier this year that bitcoin wasn’t feasible in poor nations. He cited bitcoin’s volatility as a reason his own charity isn’t looking to use bitcoin, and that the currency alone wouldn’t be able to solve global payment challenges.
Gates said poor nations wouldn’t benefit from a currency whose value rises and falls so much against the local currency, so for now, bitcoin wouldn’t benefit such countries.
See more from Benzinga
• Colorado Launches The First Weed-Based Job Seeker Site
• Starbucks Makes Getting Your Caffeine Fix Even Easier
• Greece Bailout Talks Grind To A Halt, Markets Reconsider Possible 'Grexit'
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
2015年2月12日 15:00:09
btc_jpy
直近[last]:26998円
買[bid]:26791円
売[ask]:26950円
高値[high]:27360円
安値[low]:26770円
API by etwings || In the last 10 mins, there were arb opps spanning 28 exchange pair(s), yielding profits ranging between $0.00 and $207.00 #bitcoin #btc || buysellbitco.in #bitcoin price in INR, Buy : 13665.00 INR Sell : 13207.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || BTCTurk 681 TL Koinim 698.99 TL CampBx 289.00 $ BTCe 282.999 $ BitStamp 288.50 $ SCounter #Bitcoin #btc http://bitcoindunyasi.com || Gold $1,296.40 | Silver $18.38 | Platinum $1,280.00 | Bitcoin $228.99 #spotprices #finance #invest #savings #bitcoin #silver #gold || 1 #BTC (#Bitcoin) quotes:
$221.07/$221.75 #Bitstamp
$216.67/$217.00 #BTCe
⇢$-5.08/$-4.07
$221.23/$221.56 #Coinbase
⇢$-0.52/$0.49 || buysellbitco.in #bitcoin price in INR, Buy : 13240.00 INR Sell : 12811.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || One Bitcoin now worth $232.99@bitstamp. High $239.00. Low $209.13. Market Cap $3.204 Billion #bitcoin || Try Tony121 at https://LocalBitcoins.com/ad/126373?ch=w7m … only £160.00 per BTC. (BPI +4.93%) #buy #bitcoin #banktrans || buysellbitco.in #bitcoin price in INR, Buy : 15562.00 INR Sell : 15021.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin
|
Trend: up || Prices: 276.26, 274.35, 289.61, 291.76, 296.38, 294.35, 285.34, 281.89, 286.39, 290.59
|
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]
Not fully available.
[Random Sample of News (last 60 days)]
Here's Why Patterson Companies Jumped Higher Today: What happened Shares of Patterson Companies (NASDAQ: PDCO) are up 4.4% at 12:45 p.m. EDT, having been up as much as 12.1%, after the dental and animal health company announced results of its fourth fiscal quarter that ended on April 28. Rather than being a case of Patterson hitting the ball out of the park, today's increase is more like investors cheering because it didn't strike out. At this point, they'll happily take the bloop single and hope for better results in the next inning. So what This time last year, management was looking for adjusted earnings for recently completed fiscal year of $2.25 to $2.40 per year. By the second-quarter report, expectations had fallen to $2.00 to $2.10 per share. And after the third quarter, management was only guiding for $1.65 to $1.70 per share. Patterson was able to hit that revised-revised range with non-GAAP earnings of $1.68 for the fiscal year. Break out the peanuts and Cracker Jacks. Dentist examining a patient's teeth Image source: Getty Images. Internal sales, which adjust for changes in currencies and selling relationships, were down 3.3% in the fourth quarter with the dental segment dragging down the company average, dropping 10.5% year over year. Management blamed a realignment of its sales force, transition of its enterprise resource planning platform, and dentists continuing to transition to digital equipment. The larger animal health division isn't exactly stealing any bases with internal sales of the division up 2.4%, but at least sales aren't declining. Now what Management is looking for a little growth in the upcoming fiscal year with adjusted earnings expected to be in the $1.73 to $1.83 range, although the growth is likely to come in the back half of the year as it's still facing a tough comparator for the first fiscal quarter. Today's results are a good start to the turnaround, but risk-averse investors should be careful as it's likely a long road back, especially with antitrust violation allegations hanging over the company. Story continues 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 Brian Orelli and The Motley Fool have no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || What Happened in the Stock Market Today: Stocks drifted mostly sideways Tuesday, with theDow Jones Industrial Average(DJINDICES: ^DJI)closing virtually unchanged and theS&P 500(SNPINDEX: ^GSPC)up a small amount.
[{"Index": "Dow", "Percentage Change": "(0.01%)", "Point Change": "(1.58)"}, {"Index": "S&P 500", "Percentage Change": "0.17%", "Point Change": "4.85"}]
Data source: Yahoo! Finance.
Stocks sensitive to interest rates rose in anticipation of news from the Federal Reserve meeting this week. TheUtilities Select SPDR ETF(NYSEMKT: XLU)rose 1.2% and theiShares US Home Construction ETF(NYSEMKT: ITB)gained 1.6%.
As for individual stocks,RH(NYSE: RH)jumped on strong profit growth andDave & Buster's Entertainment(NASDAQ: PLAY)rose after reporting first-quarter results and announcing plans for expanding its offering of exclusive virtual reality titles.
Image source: Getty Images.
Shares of luxury home furnishings seller RHsoared 30.6%after the company smashed profit expectations and raised guidance for the year. Revenue fell 0.8% to $557 million, hitting the low end of previous guidance, but missing analyst expectations for sales of $563 million. Adjusted earnings per share, however, came in at $1.33 compared with $0.05 last year, well ahead of Wall Street expectations of $1.02.
In Q1 last year, RH reported high sales volumes and low profit due to markdowns and inventory adjustments. Comparable-brand revenue grew 1% year over year, but that number would have been 5% if it weren't for the inventory actions last year. Adjusted gross margin increased to 38% from 30.5% in the period last year, reflecting more full-price selling and lower outlet sales. Record first-quarter operating margin of 9.6% compares with only 1.5% in Q1 last year.
Looking forward, RH forecast Q2 revenue of $655 million to $662 million, above the analyst consensus of $654 miilion, and adjusted EPS of $1.70 to $1.77, well above expectations of $1.51. For the full year, the company raised its EPS guidance to a range of $6.34 to $6.83, which at the midpoint is 13% above the company's estimate given three months ago.
Coming after astrong fourth quarter, investors were more than willing to believe that RH'sradical overhaulis allowing it to thrive in today's retail environment.
Dining and entertainment specialist Dave & Buster's stockrose 16.7%after the company reported better-than-expected sales and earnings despite a drop in comparable-store sales and the retirement of its CEO. Revenue increased 9.2% to $332 million and earnings per share rose 6.1% to $1.04. Analysts were expecting EPS of $0.93 on sales of $322 million. Stephen M. King will retire as CEO but remain as chairman, and CFO Brian Jenkins will be promoted to the top spot.
Comparable-store sales sales fell 4.9%, which was less than the 5.9% drop last quarter. The revenue gain was largely attributable to six new stores that opened during the quarter, as well as to strong contributions from 20 other recently opened stores that are not included in the comparable-store sales metric. Noncomparable-store sales increased to $74.5 million compared with $30.3 million in the period last year. The company's 116 stores produced net income that was slightly less than last year's, but the EPS gain came thanks to a 6.7% reduction in share count due to buybacks.
Dave & Buster's beat expectations that were lowered after adisappointing Q4, but executives also generated excitement with investors by elaborating on plans to grow its virtual reality (VR) gaming offerings. The company is in the process of rolling out its first proprietary VR game,Jurassic World VR Expedition, and will launch a second title later this year.
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Jim Crumlyhas no position in any of the stocks mentioned. The Motley Fool recommends Dave & Buster's Entertainment and RH. The Motley Fool has adisclosure policy. || Bitcoin Cash, Litecoin and Ripple Daily Analysis – 11/06/18: Bitcoin Cash tumbled 14.4% on Sunday, following Saturday’s 2.96% fall, to end the week down 20.51% at $929.9.
The sub-$1,000 close was the first since 1stJune and, while the cryptomarket is more accustomed to seeing weekend rallies, the news wires did the damage, leading a broad based market sell-off at the start of the day that continued through to the end of the weekend.
Bitcoin Cash slid through the day’s first major resistance level at $1,058.27 and the second major resistance level at $1,035.23, with a lack of support seeing a day long pullback to an intraday low $891.5, before recovering to $900 levels by the day’s end, the day’s third major support level at $966.3 providing investors with very little cover.
With the U.S regulators probing the cryptomarket exchanges over price manipulation, the latest subpoenas were certainly poorly received by the broader market.
At the time of writing, Bitcoin Cash was down 0.52% to $929.1, with the negative sentiment from the second half of last week spilling into the early hours of Monday.
An early run at $1,000 levels came up short, with a morning high $986 also falling short of the day’s first major resistance level at $1,047.37 and, more importantly, the 23.6% FIB Retracement Level of $1,100, before pulling back into the red.
A morning’s $912.5 low came at the start of the day, with Bitcoin Cash managing to steer clear of the day’s first major support level at $851.97 before recovering.
For the day ahead, we can expect a choppy one, with Bitcoin Cash needing to move through $969.43 to take a run at $1,000 levels and the day’s first major resistance level at $1,047.37, though with the negative sentiment across the markets, Bitcoin Cash may well face plenty of resistance in any bid to recover to $1,000 levels, the news wires unlikely to be particularly friendly.
Failure to through $969.43 to $1,000 levels could see Bitcoin Cash under further pressure later in the day, with Bitcoin Cash having managed to avoid striking a new swing lo, a pullback through the day’s first major support level at $851.97 on the cards as investors consider the U.S CFTC probe as just the beginning of what has been expected to be a tough summer for the cryptomarket.
The moves through the weekend affirmed the extended bearish trend formed in early May and there’s a long way to go before the bulls can claim control.
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Litecoin slid by 9.48% on Sunday, following Saturday’s 2.38% fall, to end the week down 14.96% at $106.3.
A start of the day fall to $113.01 saw Litecoin slide through the day’s first major support level at $115.9 and the second major support level at $114.63, before a mid-afternoon sell-off saw Litecoin slide through the third major support level at $110.83 to an intraday low $103.35 before recovering to $106.3 by the day’s end.
The moves through the day, which came off the back of regulatory chatter and news of an exchange hack, reaffirmed the resumption of the extended bearish trend formed in early May, with Litecoin also striking a new swing lo on the day.
At the time of writing, Litecoin was down 0.11% to $106.85, with Litecoin easing back from an early move through to a morning $109.02 high that came up short of the day’s first major resistance level at $114.7 and the 23.6% FIB Retracement Level of $122 before pulling back.
A morning low $104.35 managed to hold above the day’s first major support level at $100.62, with Litecoin having managed to avoid sub-$100 levels throughout the year.
For the day ahead, a move back through $109 would support a run at the day’s first major resistance level at $114.7, though we would expect any rebound to be short lived as investors digest the news and consider what’s next, the 23.6% FIB Retracement Level of $122 out of reach for the day.
Failure to move back through $109 to take a run at the day’s first major resistance level will see Litecoin pull back towards the day’s first major support level, with any slide to sub-$100 considered particularly bearish for Litecoin and the broader market.
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Ripple’s XRP fell by 12.49% on Sunday, following Saturday’s 2.81% rise, to end the week down 16.18% at $0.57639.
Following the broader market through the day, Ripple’s XRP fell through the day’s first major support level at $0.6433 within the first hour of the day, before a second sell-off in the mid-afternoon saw Ripple’s XRP slide through to an intraday low $0.55067, Ripple’s XRP tumbling through the day’s second major support level at $0.6301 and the third major support level at $0.5974.
While Ripple’s XRP managed to avoid a new swing lo, the extended bearish trend formed in late April was affirmed, with Ripple’s XRP unable to move back through the day’s major support levels, while also sitting some distance off the 23.6% FIB Retracement Level of $0.6442.
At the time of writing, Ripple’s XRP was up 0.12% to $0.57931, an early run at $0.60 levels falling short, with Ripple’s XRP seeing a morning high $0.59339 before reversing to $0.57 levels, moves through the early part of the morning leaving the day’s major support and resistance levels untested early on.
For the day ahead, a move back through the morning’s high to $0.5963 would support a run at $0.60 levels, though the day’s first major resistance level at $0.6420 and the 23.6% FIB Retracement Level of $0.6442 will likely be a step too far for the day.
Failure to move back through the morning high would support a reversal later in the day, with the day’s first major support level at $0.5307 and sub-$0.50 support levels in play before any recovery, the day ahead likely to be a choppy one with Ripple’s XRP in the hands of the bears.
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Thisarticlewas originally posted on FX Empire
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• GBP/JPY Retracement Trend Line Breakouts for Uptrend Continuation || Look to REITs ETFs to Enhance Yield Generation: This article was originally published onETFTrends.com.
Real estate investment trusts and sector-related REIT ETFs have rebounded since the February correction, but investors may have overlooked this segment of the market.
REITs are an effective, liquid and low-cost means of investing in the real estate asset class, and it is now the third largest asset class in the U.S., with commercial real estate accounting for 17% of the U.S. investment market, according toNareit.
Around 80% of investment advisors now recommend REITs to their clients, compared to 73% of surveyed advisors who recommended REIT exposure to clients in 2016.
More advisors have come to realize that the REITs sector provided high and growing income from rents plus moderate capital appreciation over time. Furthermore, since leases are tied to inflation and real asset values have tended to increase in response to rising replacement costs, REITs may also act as a suitable inflation hedge.
Why Consider REITs Now?
As more income-minded investors look to alternatives, they might consider REITs. Nareits advised investors that REIT allocations may range from 5% to 15% of a, depending on an investor's goals, risk tolerance and investment horizon. These percentages fall in line with the 17% share commercial real estate makes up in the overall U.S. investment market.
"Adding REITs to a hypothetical portfolio increased returns with no increase in risk and reduced the risk of retirees outliving assets. REITs have provided stable income despite inflation and market fluctuation," according to Nareits.
Related:Real Assets ETF Focused on Generating Real Returns
For those looking fore REITs exposure, investors may turn to sector-specific ETFs, such as the Vanguard REIT ETF (VNQ) , iShares Dow Jones US Real Estate Index Fund (IYR) and Schwab US REIT ETF (SCHH) . VNQ has a 3.59% 12-month yield. IYR has a 3.66% 12-month yield and SCHH has a 2.73% 12-month yield.
For more information on the real estate investment trusts segment, visit ourREITs category.
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READ MORE AT ETFTRENDS.COM > || Turkey ETF Plunges in Response to Erdogan’s Iron Grip on Economy: This article was originally published on ETFTrends.com. The sell-off in Turkish markets and country-specific ETF continued Tuesday as the lira currency depreciated on rising concerns over President Recep Tayyip Erdogan's executive powers. The iShares MSCI Turkey ETF ( TUR ) declined 3.1% Tuesday after falling off 3.3% Monday, which have more or less erased the gains accumulated since mid-June. Dragging on the Turkish markets, the lira currency weakened 4% against the U.S. dollar late Monday after Erdogan appointed his son-in-law as finance minister and placed measures that could diminish the independence of the central bank, the Wall street Journal reports. “There’s a real risk that this spirals into a full-blown currency crisis,” Paul McNamara, a portfolio manager at GAM Holding, told the WSJ. “It’s got so many red flags that we’ve associated with economic crises…in the past.” The lira has already lost a fifth of its value against the greenback this year as investors dumped the currency ahead of Erdogan's June re-election on concerns the president would erode the central bank's powers and push for looser monetary and fiscal policies. Erdogan has already stated that high interest rates are "the mother and father of all evils," fueling fears that his desire for lower rates could further deteriorate the currency and elevate inflationary pressures. Turkey's Concerns Mount Concerns mounted Monday after the government said the president would appoint the central bank governor, deputies and monetary policy committee members for four-year mandates. “It will be very difficult to convince the market that this is not a one-man show,” Christian Maggio, head of emerging markets strategy at TD Securities, told the WSJ. The sudden changes come in a time when growth in Turkey has shown signs of slowing. Furthermore, some investors are already diverting money away from the emerging markets to play higher rates in the U.S. and hedge against rising trade war concerns. Story continues “Turkey has some of the weakest economic fundamentals of any emerging market,” Lee Hardman, a currency analyst at MUFG, told the WSJ. “That increases the vulnerabilities to a crisis.” For more information on the Turkish markets, visit our Turkey category . 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 > || Will Bitcoin Vindicate Nobel Laureate Economist Friedrich Hayek?: Bitcoin The creation of money has been effectively in private hands since, well, forever. Looking at the modern times after the creation of the US federal reserve system in 1913 one of the greatest misconceptions instilled in the masses is the belief that public institutions, such as the US Fed or the ECB, are the only expression of public interest and that money creation is the exclusive prerogative of sovereign nation-states. Although it is so widely purported or simply conveniently led to believe the truth is rather different. Indeed, in addition to the fractional-reserve banking which enables commercial banks to create most of the broad money in the system the very same well known, too big to fail, privately held commercial banks, also own substantial direct interest in the above institutions. Take the ECB for example, its governance is formally in the hands of 6 Executive Board members and the Governors of each of the 19 national central banks of member states . So you might think it is all politically endorsed by the democratically appointed governments of each member country. Well, not really. In Italy for instance although the same applies to other EU countries the shareholders of the Banca d´Italia are mostly private banks or large insurance companies such as Unicredit, Intesa Sanpaolo and Assicurazioni Generali . Though the situation is much more obfuscated in the USA, the concept is the same: nationally-chartered banks own each one of the 12 Federal Reserve Banks which are then part of the FED . As to which the members of the 12 FRBs are, good luck in finding them because it is quite difficult to come up with much information. It seems like a closely guarded secret. Regardless, exists a monopoly on money creation, which is awarded by the governments to the private banking sector though it is concealed by the appearance of the FED and the ECB as being independent authorities and it is safeguarded by the very same governments which legally endorse privately issued fiat moneys and make them legal tender by decree, thereby perpetuating the privileges of the banking sector. Story continues In 1976, F.A. Hayek the 1974 Economics Nobel Prize winner and one of the most prominent late members of the Austrian School of Economics wrote a pamphlet titled Denationalisation of Money , in which he foresaw the emergence of privately issued moneys which could compete among themselves and against the governments´ monopolies, which, in his words, has the defects of all monopolies as it prevents the discovery of better methods of satisfying a need for which a monopolist has no incentive . Friedrich Hayek. Image credit: Flickr. Despite his visionary and highly interesting theories, all his assumptions regarding the benefits of a competitive regime for moneys remained essentially untested because, so far, the monopoly and the legal tender privileges could not be challenged by any privately issued money without it being immediately attacked by the governments. But Bitcoin has been the first privately issued money which enables a radical paradigm shift and may start testing effectively Hayeks assumptions because it is able to challenge the monopoly privilege thanks to its decentralized nature and the properties that make it resistant to coercion, censorship and geopolitical manipulation. Without a central point of failure, governments cannot effectively attack Bitcoin. While granting to Hayek that the banking monopoly on money creation is one of the causes of the many illnesses of our financial system and of the increasing social inequality to levels not seen since 1929, the alleged advantages of competing moneys are still to be proved. Hayek envisaged a competitive money regime which enabled currency price stability, preservation of purchasing power and store of value, as well as usability as a unit of account and medium of exchange for daily purchases. The Italian professor F.M. Ametrano of the Universita´ Bicocca Milano and Politecnico di Milano, who is one of the leading voices in favour of Bitcoin, was one of the first to argue back in 2016 in favour of the new regime of competitive moneys foresaw by Hayek. Professor Villaverde, of the University of Pennsylvania, is one of the first to have recently studied the impact of cryptocurrencies and this new regime of competitive moneys enabled by Bitcoin. In his column , he casts some doubts on the ability of a regime of competing currencies to maintain price stability . But one must also consider that the crypto sector develops and experiments at lightning speed and this makes any analysis quite soon obsolete. Take the emergence in the meantime of stable coins as an example. Even if I do personally share most of the concerns highlighted here on their ability to maintain price stability under stress conditions , they are a clear and important sign that there is a growing trend of creating different cryptocurrencies with different properties and functionalities, which may all have a specific market and a good reason to coexist. There is clearly a need for cryptos which preserve purchasing power and may become a store of value (such as Bitcoin), there is a need for stable coins to be used as unit of accounts and medium of exchange, there is a need for enhanced privacy issues (such as Monero), etc. All those cryptos can theoretically fulfil different functions and being equally in demand among users. Then of course issues such as their interoperability and how to effectively exchange each crypto with the others, as well as their ease of use are all to be answered by new technological developments in the due time. But one point made by Prof. Villaverde in his column is chiefly important: the threat of competition from private monies imposes market discipline on any government that issues currency. If a central bank, for example, does not provide a sufficiently good money, then it will have difficulties in implementing allocations. This may be the best feature of cryptocurrencies. In a world in which we can switch to Bitcoin or Ethereum, central banks need to provide, paraphrasing Adam Smith, a tolerable administration of money. Currency competition may have a large upside for human welfare after all If Greshams Law does not fully apply and good money does not drive out bad fiat money, then hopefully it will make fiat money a lot better and vindicate Hayeks vision after all. About the Author: Andrea Bianconi is an international business Lawyer with over two decades experience, a scholar of Austrian Economics, Monetary History and Geopolitics, a believer in the future of Blockchain based technologies and an active member of Berlins Blockchain Hub, a legal consultant, an investor himself and online trader with interest in commodities, precious metals, currencies, Tech stocks and Cryptos. https://www.bianconiandrea.com/ The post Will Bitcoin Vindicate Nobel Laureate Economist Friedrich Hayek? appeared first on CCN . || Double Spend Attacks ‘Unrealistic’ on Blockchains with High Hashrate: Bank of Canada Research: Bank of Canada bitcoin A newly-published study from the Bank of Canada on incentive-based mining has confirmed what many cryptocurrency supporters have long argued: the risk of double spend attacks is relatively low on high-hashrate networks like Bitcoin and Ethereum, though smaller networks may not be quite so safe. The study , which was conducted by Jonathan Chiu and Thorsten V. Koeppel, applied game theory to incentive compatibility on the blockchain in an attempt to discover the security of Proof-of-Work (PoW) consensus protocols and, specifically, whether users can trust that the information in the public ledger is immutable. To conduct this evaluation, they gamed a hypothetical double spend attack , an event in which a miner successfully re-writes blockchain data to erase one transaction and replace it with another, thus allowing them to “spend” the same funds multiple times. This usually occurs at a cryptocurrency exchange , where the funds can quickly be laundered and withdrawn. These attacks require a significant amount of computing power, which is why they are generally associated with 51 percent attacks , which occur when an individual miner or mining cartel accumulates a majority of a network’s hashpower and can theoretically force the remaining nodes to accept their version of the blockchain as valid. double spend attack According to the report’s authors, it is “unrealistic” that such attacks will occur, at least on large networks, since these attacks — which may or may not succeed — force would-be attackers to incur a “large, irretrievable sunk cost.” They concluded: “However, from an economic point of view, this requires that a dishonest miner has deep pockets and is risk neutral. These assumptions tend to be unrealistic and, in practice, users have little economic incentives to launch such an attack, especially when the computational investment by other miners is large.” That’s not to say that double spend attacks never occur. In fact, as CCN has reported, they have become increasingly common among small-cap cryptocurrencies in recent months, particularly those that share a hashing algorithm with Bitcoin or can be mined profitably using GPUs. Story continues To decrease their sunk cost, attackers rent hashpower from “cloud mining services” — often by the hour. There is far too little surplus hashpower available for an attacker to attack large coins like Bitcoin or Ethereum , but it’s often alarmingly cheap to execute 51 percent attacks on cryptocurrency networks worth hundreds of millions of dollars. The bank notes that cryptocurrency exchanges and other payment recipients concerned about double spend attacks can mitigate the risk of becoming a victim to one by increasing “confirmation lag,” or the number of blocks that they require to pass before they deliver the service or goods associated with a transaction. Indeed, once a successful double spend has been identified, the first action that developers advise exchanges and other high-value targets to take is to drastically increase confirmation lag — at least temporarily — to increase the difficulty of rewriting the blockchain. Moreover, cryptocurrency exchanges that suffer double spend attacks are often found to have credited user deposits after too few confirmations, making them prime targets for these attacks. Altogether, the Bank of Canada study did not break any new ground on mining incentives, but it should further validate what cryptocurrency supporters have long said about this particular network security model. Images from Shutterstock The post Double Spend Attacks ‘Unrealistic’ on Blockchains with High Hashrate: Bank of Canada Research appeared first on CCN . || Philippines to Issue 25 Cryptocurrency Exchange Licenses in Economic Zone: The administrator of a government-controlled economic zone in the Philippines has revealed plans to issue 25 licenses to cryptocurrency exchanges.
The Cagayan Economic Zone Authority (CEZA), a government-operated economic zone in the northern tip of the Philippines, will open its doors to as many as 25 cryptocurrency exchange operators in its tax-friendly jurisdiction, anannouncementon its website revealed.
The move to license – effectively legalize – crypto exchanges will follow a strict integrity check, coinciding with wider regulations for the cryptocurrency sector. Each cryptocurrency exchange will be required to invest at least $1 million within two years of operations in the zone as well a physical presence via an office in the zone, CEZA chief Raul Lambino added.
Despite the limitation on the direct licenses, each cryptocurrency exchange will have 20-30 sub-licenses for trader and brokers, Lambino confirmed..
“We do not want the Philippines to be a haven for scammers even if these scams are happening abroad,” the CEZA chief wasquotedas stating by a government-owned newswire. “That’s why through our probity and integrity check we can determine if their transactions are just designed to entice unsuspecting people to invest in Bitcoin or whatever crypto coin that is a fraud.”
The authority is also mandating all ICO operators to have their coins to be ‘asset-backed’.
Asreportedpreviously, the CEZA has already received a number of applications from cryptocurrency firms in the region to operate in the tax-haven zone strategically situated within an hour’s flight from Hong Kong, China and Taiwan.
Earlier in April, the CEZA revealed it was in the process of issuing ten licenses to companies looking to operate exchanges, offer initial coin offerings (ICOs) and even mine cryptocurrency within the zone. “They are Japanese, Hong Kong, Malaysians, Koreans…,” Lambinosaidat the time. “They can go into cryptocurrency mining, initial coin offerings, or they can go into exchange [operations].”
Elsewhere in the mainland, the Philippines’ central bank has also beenreviewingover a dozen applications from operators looking to establish an exchange in the country. The Philippines is among the earliest countries in the world topublish regulationsfor cryptocurrency exchanges in February 2017. In a refreshingly candid televised news interview, the deputy director of the Philippines’ central bank lauded the ‘pioneering’ regulation and highlighted the benefit of using bitcoin as a “fast, near real-time and convenient” monetary instrument.
Featured image from Shutterstock.
The postPhilippines to Issue 25 Cryptocurrency Exchange Licenses in Economic Zoneappeared first onCCN. || What's the Most Important Thing at a Start-Up?: When you run astart-up, it's easy to focus on things thatseemimportant rather than the one thing that actuallyisimportant. Arguing about website design, nitpicking logo options, and playing ping pong in your oh-so-hip office space may feel like a full day at the office, but if you're not working on generating sales, then nothing you did actually matters.
A company's success or failure has never been determined by the exact right shade of green as part of a company's logo or a clever welcome video. Ultimately, success comes down to whether a company can generate revenue. Keeping customers or clients happy enough that they continue to give you money is the only way to buy time to get everything else right.
If you don't start with the right focus, you'll fail. Image source: Getty Images.
My background includes working at one start-up that successfully reached an initial public offering and another that sold for $32 million (although that amount was never fully collected) after spending about $1 million. More recently, I spent two years focusing part of my efforts on a web development company that worked largely with startups that had already raised between $500,000 and $1 million in funding.
When I worked in the latter position, my business partner saw the same mistakes over and over again. Company founders/upper management worried too much about being ready for the market and having everything just right instead of focusing on revenue.
Whether you sell a product or a service, it's important to generate revenue -- or at least pre-sales. It's kind of a "fake it until you make it" philosophy. Even if your product has not been manufactured, you can take orders and collect deposits. If your company provides a service, it's best to book some sales, even if you're not quite ready.
Whether you're bootstrapping it or have raised money from outside investors, your company's ongoing value is determined by revenue, not how clever your idea is. If you need to raise or borrow money, your ability to do that and your valuation or loan terms will be based on you showing an ability to bring in money.
That's why on nearly every episode ofShark Tank, the sharks ask the people pitching for their sales numbers. If those numbers are impressive, it sometimes creates interest in a company that otherwise seemed silly. If the numbers are bad -- or worse, nonexistent -- then it's very rare that a deal gets made.
A significant portion of company resources should go into drumming up interest in your product or services pretty much from day one. That doesn't mean you should avoid the other things it takes to build your company, butsalesand revenue generation should be something that gets focused on every day.
You should know what your cash burn rate is and exactly how much money is needed to buy you each extra week of being in business. If you have investors or are planning on raising venture capital money, you should do your homework to know what their revenue expectations are before they offer further investment.
Don't let the little things distract you. Your letterhead and mission statement don't need to be perfect from day one, and making sure your office has those awesome walls painted as whiteboards can wait. Focus on sales. Work on acquiring customers and putting your company in a position where it generates revenue.
Even if the clients or customers you lure in early are not the ones you hope to serve down the road, the revenue they generate -- as long as they pay their bills -- will keep your start-up afloat.
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The Motley Fool has adisclosure policy. || Susquehannas Crypto Chief Touts Bitcoin as the Best Cryptocurrency Investment: The existing use cases of bitcoin give it an edge over other cryptocurrencies, the head of digital assets at Pennsylvania-based trading firm Susquehanna International Group, Bart Smith, told CNBCs Fast Money on Tuesday. According to Smith, with these established functions of bitcoin which are already applicable today, the flagship cryptocurrency presents the best opportunities for investors in the space. Smith went on to cite use cases such as cross-border transfers especially for immigrant workers. They use Western Union, traditional banks; It is slow and it is expensive. And there are people that can stop you from sending that money, whether thats good or bad. With bitcoin, I can send money. Its fast. Its cheap. And frankly, no one can stop me, Smith said . Already in Use Per Smith, the technological advancements that are being made in the blockchain and cryptocurrency fields are going to take some time before they are fully realized. However, with bitcoin , it is already the currency of the internet, besides possessing other functions. That being the case, Smith does not foresee a situation where BTC would lose its leading position to other cryptocurrencies . It is the currency of the internet
I would say it is the digital gold
its a cross-border money transfer which people use
and if those are the two use cases today its hard to imagine bitcoin losing those two use cases versus the field, Smith said. bitcoin price Smith also acknowledged that bitcoins $6,800 resistance level, as well as its $5,800 support level, have been key pivot points. The Susquehanna executive noted that the lows that BTC bounced off recently were the same ones that were touched in April and February this year. Additionally, these were the same levels that the asset was trading at last year in late October when bitcoin futures were announced. Prices Stabilizing After Record Highs Per Smith, the excitement that followed after the announcement of bitcoin futures has subsided and the cryptocurrency, as well as other tokens, are now at the level where they were prior to bitcoin becoming a regulated financial instrument. Story continues The Susquehanna International Group executive also pointed out that between 90% and 95% of the cryptocurrency market volumes are generated outside the United States. And while in the United States the dollar is the base currency for trading bitcoin, in other countries BTC is the reserve currency. Smith also disclosed that if bitcoin dropped to the $5,000 level a lot of big investors would pile in. The Susquehanna International Group executive observed with the volatility in the price having reduced and volumes also having gone down, it could perhaps be an indication that the bear market was nearing an end. Volumes are lower across the board. And that generally to a lot of traders is kind of a sense that, is this bear market petering out?, he added. The post Susquehannas Crypto Chief Touts Bitcoin as the Best Cryptocurrency Investment appeared first on CCN .
[Random Sample of Social Media Buzz (last 60 days)]
Top 6 BTC/USD Exchange Orderbooks: Resistance til $7600:$28.2M; Support til $7100:$39.1M #gemini #bitstamp #gdax #kraken #poloniex #bitfinex || Installez CryptoTab et minez des Bitcoin! https://getcryptotab.com/45575 || #CRYPTOCURRENCIES are MOVING! Try http://bit.ly/2HcXTY6 to scan for OVERSOLD RSI, MACD CROSSOVERS and where VOLUME is going!
#BTC #ETH $DGD $HT $SKY $CENNZ $DCR $USDT $BNB $GXS $CNX $WTC $WICC $CMT $NXT $SOC $RHOC $DOGE $MONA $BTC pic.twitter.com/sljsPzWENY || 地獄への扉が空いてる、、、btc( ・∇・)、、、現物ナンピンしている自分には厳しい相場だ〜横横下、横横ちょい上げ、横横下、、、 https://twitter.com/factomz/status/1003842520969703424 … || 2018-07-07_02-00-52 Forecast #BTC $BTC #Bitflyerpic.twitter.com/59U7nbyTKs || One finds limits by pushing them.
Please Visit on: http://btcrace.com
#Crypto #Bitcoin #altcoins #bitcointalk
#investment #cryptocurrency #altcoin #dash #eth #neopic.twitter.com/yeDe9wAtQK || Total Market Cap: $341,980,646,071
1 BTC: $7,624.92
BTC Dominance: 38.12%
Update Time: 09-06-2018 - 03:00:13 (GMT+3) || Bitcoin&NEM相場情報(Zaif)
btc/jpy ( https://zaif.jp/trade_btc_jpy )
時間 10:24 午前
価格 819505
xem/btc ( https://zaif.jp/trade_xem_btc )
時間 10:00 午前
価格 0.00003299
xem/jpy ( https://zaif.jp/trade_xem_jpy )
時間 10:24 午前
価格 26.9299 || Price of 1 BCH to USD: $1118.58 (Change: -0.63 %)
Price of 1 BCH to BTC: 0.148878 Ƀ (Change: -0.32 %)
#bitcoincash #bch $bch || New Keyport Platform Allows Encrypted Messaging Via Bitcoin Cash (BCH) Network https://marketexclusive.com/newly-developed-keyport-platform-allows-encrypted-messaging-communication-via-bitcoin-cash-bch-network/2018/06/ … #Bitcoin #blockchain $BTC
|
Trend: down || Prices: 8180.48, 7780.44, 7624.91, 7567.15, 7434.39, 7032.85, 7068.48, 6951.80, 6753.12, 6305.80
|
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 2017-09-05]
BTC Price: 4376.53, BTC RSI: 55.90
Gold Price: 1339.20, Gold RSI: 77.91
Oil Price: 48.66, Oil RSI: 55.96
[Random Sample of News (last 60 days)]
Where Money Goes to Die: Photo Credit: eFile989 ============== It is often a wise thing to look around and see where people are doing that is nuts. Often it is obvious in advance. In the past, the two most obvious were the dot-com bubble and the housing bubble. Today, we have two unrelated pockets of nuttiness, neither of which is as big: cryptocurrencies and shorting volatility. I have often said that that lure of free money brings out the worst economic behavior in people. That goes double when people see others who they deem less competent than themselves seemingly making lots of money when they are not. I’ve written about Bitcoin before. It has three main weaknesses: No intrinsic value — can’t be used of themselves to produce something else. Cannot be used to settle all debts, public and private Less secure than insured bank deposits In an economic world where everything is relative in a sense — things only have value because people want them, some might argue that cryptocurrencies have value because some people want them. That’s fine, sort of. But how many people, and are there alternative uses that transcend exchange? Even in exchange, how legally broad is the economic net for required exchangability? Only legal tender satisfies that. That there may be some scarcity value for some cryptocurrencies puts them in the same class as some Beanie Babies. At least the Beanie Babies have the alternative use for kids to play with, even though it ruins the collectibility. (We actually had a moderately rare one, but didn’t know it and our kids happily played with it. Isn’t that wonderful? How much is the happiness of a kid worth?) I commented in my Bitcoin article that it was like Penny Stocks, and that’s even more true with all of the promoters touting their own little cryptocurrencies. The promoters get the benefit, and those who speculate early in the boom, and the losers are those fools who get there late. There’s a decent public policy argument for delisting penny stocks with no real business behind them; things that are worth nothing are the easiest things to spin tales about. Remember that absurd is like infinity. If any positive value is absurd, so is the value at two, five, ten, and one hundred times that level. Story continues The same idea applies to cryptocurrencies; a good argument could be made that they all should be made illegal. (Give China a little credit for starting to limit them.) It’s almost like we let any promoter set up his own Madoff-like scheme, and sell them to speculators. Remember, Madoff never raked off that much … but it was a negative-sum game. Those that exited early did well at the expense of those that bought in later. Ultimately, most of the cryptocurrencies will go out at zero. Don’t say I didn’t warn you. Shorting Volatility This one is not as bad, at least if you don’t apply leverage. Many people don’t get volatility, both applied and actual. It spikes during panics, and reverts to a low level when things are calm. It seems to mean-revert, but the mean is unknown, and varies considerably across different time periods. It is like the credit cycle in many ways. There are two ways to get killed playing credit. One is to speculate that defaults are going to happen and overdo going short credit during the bull phase. The other is to be a foolish yield-seeker going into the bear phase. So it is for people waiting for volatility to spike — they die the death of one thousand cuts. Then there are those that are short volatility because it pays off when volatility is low. When the spike happens, many will skinned; most won’t recover what they put in. It is tough to time the market, whether it is equity, equity volatility, or credit. Doesn’t matter much if you are a professional or amateur. That said, it is far better to play with simpler and cleaner investments, and adjust your risk posture between 0-100% equities, rather than cross-hedge with equity volatility products. Again, this is one where people are very used to selling every spike in volatility. It has been a winning strategy so far. Remember that when enough people do that, the system changes, and it means in a real crisis, volatility will go higher than ever before, and stay higher longer. The markets abhor free riders, and disasters tend to occur in such a way that the most dumb money gets gored. Again, when the big volatility spike hits, remember, I warned you. Also, for those playing long on volatility and buying protection on credit default — this has been a long credit cycle, and may go longer. Do you have enough wherewithal to survive a longer bull phase? To all, I wish you well in investing. Just remember that new asset classes that have never been through a “failure cycle” tend to produce the greatest amounts of panic when they finally fail. And, all asset classes eventually go through failure. Where Money Goes to Die was originally published on The Aleph Blog || NHS trust hit by cyber attack cancels operations and asks patients not to come to hospital 'unless it is essential': Monklands Hospital in Airdrie, Scotland, is among those affected: Getty Images Scotland’s third-largest NHS trust is appealing for patients not to attend hospital unless it is “essential” amid an ongoing cyber attack. Operations and appointments have been cancelled by NHS Lanarkshire and people are being warned they could be turned away, but a spokesperson insisted there were “no concerns around emergency treatments”. It is the second time the trust has been affected by malware within months, having been one of the worst-affected trusts during the global WannaCry ransomware attack in May. Officials did not confirm the type of virus affecting systems but announced IT difficulties affecting hospitals and GP practices starting on Friday afternoon. "We have detected some incidences of malware,” chief executive Calum Campbell said. "We took immediate action to prevent this spreading while we carried out further investigations. "We are now putting in place a solution from our IT security provider. "While the issue is being resolved our staff have been working hard to minimise the impact on patients and we apologise to anyone who has been affected." The trust is responsible for the care of more than 650,000 people living in North and South Lanarkshire in Scotland, running three general hospitals and numerous GP surgeries, dentists, pharmacists and other services. As of Saturday morning, the trust described the entire IT system as “down” and put out an emergency phone number for staff to use over the bank holiday weekend. Dr Jane Burns, medical director for NHS Lanarkshire’s acute division, asked patients not to attend hospitals “unless it is essential”. "If you do turn up at A&E and do not require emergency care you may be sent away from the department or you may experience a lengthy wait,” she added. "Emergency care will still be provided for those who do require to be seen." The health board's estate includes Hairmyres Hospital in East Kilbride, Monklands Hospital in Airdrie and Wishaw General Hospital. Story continues Staff unable to use email systems or access appointments have been directing the public to the NHS Lanarkshire Facebook page for further information The cyber attack appears to be more isolated than the global WannaCry attack in May, which hit NHS trusts across the UK and sparked urgent reviews of outdated systems, protections and staff training after equipment was disabled, patients turned away and ambulances diverted. WannaCry, which affected more than 150 countries, spread through outdated Microsoft Windows software and caused automated messages appear on thousands of computers telling users their data had been encrypted and would be released in exchange for a Bitcoin payment. The unprecedented cyber attack is not believed to have directly targeted the NHS, but Britain’s health service has previously been hit by viruses and The Independent revealed that Isis-linked hackers compromised some NHS websites last year. Ben Gummer, the former cabinet office minister who lost his seat in May, warned at the time that “large quantities of sensitive data” held by the NHS was a target. “No longer the stuff of spy thrillers and action movies, cyber attacks are a reality and they are happening now,” he said in October. “Our adversaries are varied: organised criminal groups, ‘hactivists’, untrained teenagers and foreign states. “Attacks can cause economic damage, erode public trust in online services and by enabling fraud do real harm to individuals, their property and their privacy.” Analysts have sounded intensifying warnings over the threat posed by cyber attacks targeting critical infrastructure, like public health, electricity, water supplies, telecommunications, banking and transport. Irish energy networks were targeted by hackers in a “spear phishing” attack last month, while the Houses of Parliament in Westminster and Scottish Parliament have also been hit. A recent report by the Royal United Services Institute (RUSI) warned of the growing threat of cyber attacks and threats to the West’s use of satellites in space. Enemies could take out military and civilian communications and navigation systems, the report said, or target the UK’s economy and crucial IT infrastructure causing chaos and panic, it said. “In any major future conflict, an important part of the battle will be threats to the UK’s critical national infrastructure from hostile cyber operations,” RUSI’s report concluded. “The cyber threat spectrum is not only relevant to defence but to government as a whole, especially to critical national infrastructure and the broader economy.” || How Does Cryptocurrency Mining Work? And What is Cryptocurrencies Hashrate?: • How Does Cryptocurrencies Mining Work?
• How can you mine cryptocurrencies?
• What is the next Cryptocurrency to mine?
• Best Bitcoin Mining Pools
• What is Cryptocurrencies Hashrate?
• Hashrate Growth
Until now, while there are investors who have a clear understanding of the process and the mechanics behind it, many are highly exposed to the nuances of mining and with current valuations, are certainly susceptible to sizeable losses, June’sEthereum flash crashand increased volatility a reminder that as an investor, it’s not just following the masses, but far more.
Last year’s Ethereum blockchain split was an event that could have resulted in significant loss and withthe 1stAugust Bitcoin Fork eventjust around the corner, a greater knowledge of the process and the risks is certainly relevant ascryptocurrencydemand continues to build.
While many have looked at simply trading cryptocurrencies such asBitcoin, others have gone into the mining, which is the process through which coins are created.
For want to be miners, appropriate hardware and access to the internet is needed for an investor to mine, the actual process being the compilation of recent transactions into blocks in order to solve complex puzzles. The person who solves the puzzle first is permitted to place the next block on the blockchain and reap the rewards, which include transaction fees associated with the transactions carried out in the block, together with a newly released coin, the amount of which is referred to as the block reward.
The difficulty in mining is adjustable and is adjusted every 2016 blocks, equivalent to around every 2-weeks, with the adjustment made to ensure that the block rate discovery remains constant, the difficulty is therefore adjusted to the computational power used for mining.
It’s a word that many would have heard of, but perhaps not necessarily appreciated, a miner’s profitability ultimately dependent upon how much hashing power the miner contributes to the network. A miner isn’t going to get too far with your standard desktop…
Crypto mining started back in 2009, withCPUsof your standard computer being used to hash, but as is the case with any new market, things moved particularly quickly in the mining sector, with the mining industry seeing a shift away from the standard CPUs tographics processing units (GPU), which were able to hash, work out the cryptographic puzzles, at a much faster rate, the rate of solving the crypto puzzles referred to as the Hashrate.
With miners armed with the knowledge that hashrates were key to income, the use of single GPUs shifted to miners linking multiple GPUs, to create what is referred to as a mini farm, the multiple number of GPU accelerators driving the hashrates northwards.
Miners using mini farms were faced with significant power consumption and as always, in search of a solution to the issue, which resulted in a shift toFPGAs (Field-programme gate array), which delivered significant improvements in power consumption, giving FPGA miners a material edge over miners using GPUs, with any miners attempting to mine with CPUs falling well behind the pack.
It ultimately boiled down to cost, with the cost of mining with FPGAs significantly higher than mining with GPUs.
For Bitcoin miners, GPU and FPGA miners faced a new miner, miners mining withapplication-specific integrated circuits (ASIC), with ASIC having been developed solely to mine cryptocurrencies, ASIC miners having a significant power advantage over CPU and GPU users, leading to ASIC miners becoming mainstream back in 2012.
As miners increased by number, the complexities of crypto calculations increased with it, hashrates being the variable, which is the speed at which the crypto puzzles are calculated and deliver income to the miner. The amount of profit for a miner dependent upon how much hashpower the miner has relative to the network.
As more miners shifted to the ASIC platform, the complexity of the calculations also increased, the complexity of the calculations adjusted every 2016 blocks. The adjustment to the complexity is made in accordance to the computational power being used for mining, as advancements are made by miners, the complexity increases with it, the purpose of this being to ensure that the block rate discovery remains a constant.
Obviously this means that it’s a never ending cycle of computational power advancement, followed by increased complexity of calculation required for mining, which also pushes miners, unable to move on to the more advanced platforms, out of the picture.
As the complexity of calculation advanced, miners moved from using mini farms to data centres, which are now widely used today, computational power provided by the centres rather than the individual miners. The added advantage for miners mining through a data centre is the economies of scale, a cost to an individual miner reduced.
While data centres are certainly of immense popularity, the market has also seen the evolution ofcloud mining, with cloud mining removing the need for miners to acquire costly mining equipment or cover the power costs resulting from the use of ASIC platforms, though there is a cost involved and will lead to reduced income as a result.
Cloud mining, which is also referred to as cloud hashing, allows the user to buy the output of cryptocurrency mining hardware, which are located in remote data centres, with all mining done remotely, removing the issues faced by miners using powerful platforms, including sizeable power usage, heat, insulation and of course, maintenance.
There are some disadvantages to using cloud mining services however that want to be miners need to be aware of and include:
• Lower profits than having your own hashing systems.
• Possible fraud, with cloud mining operators being unverifiable.
• Inability to change mining software as the miner does not possess the hardware.
• Contracts can be terminated with service providers able to shut shop should cryptocurrency prices be too low, which could result in nonpayment of income.
As a miner, the safest way to go about mining for cryptocurrencies would be by acquiring the necessary hardware as a starting point and build your own cryptocurrency hashing system, though there are obviously costs associated, with the set up and ongoing costs including sizeable electricity bills and the need to update hardware and software, which would also require selling once hardware needs to be updated.
For the average Joe, cloud mining is perhaps one of the simplest ways of entering the mining world, though as previously mentioned, some care needs to be taken and some research needs to be carried out on which service package best meets an individual’s needs to avoid over subscription, which would eat into possible earnings.
Cryptocurrency mining is certainly different to mining for commodities such asgoldandsilver, in that cryptocurrency mining does not deliver a physical asset and could be compared more closely to investing in the commodities futures markets than physicals.
The mining processes are worlds apart, where mining for commodities involving a search and extraction of a physical product, whilst cryptocurrency mining is electronic, with cryptocurrency wallets also being electronic and not physical.
Cryptocurrency mining, whether through a data centre, cloud mining service provider, own mining hardware or other, is the generation of new units of a particular cryptocurrency, depending upon the exchange on which the mining is carried out.
The mining process is a computational one and has advanced since the early days into a far more complex crypto puzzle solving process that requires significant processing power.
The miner, by way of the mining platform, is then rewarded for solving the complex crypto puzzles.
It’s important to note that should you be looking to mine using your standard desktop or laptop at home, the processing power is just not enough to mine profitably, with successful miners using specialized hardware and also, lower running costs, such as cheaper electricity bills.
For this reason, subscribing to mining programs that utilize your home computer or laptop are, not likely to generate profits for you, but for the program providers, who are taking the advantage of putting your hardware to use, but without the additional costs at their end and of course they receive a fee for the program itself.
For the beginner,Litecoins,Dogecoinsand Feather coins are recommended Scrypt-based cryptocurrencies with the best cost-benefit, with Litecoins giving a miner between 50 cents to $10 per day, when using consumer level hardware, which has an upfront cost of around $1,000.
Mining for cryptocurrencies deliver more attractive returns with more sizeable upfront investment in hardware, with a $3,000 to $5,000 investment in hardware delivering $50 per day or more in income.
The upside for beginners mining Litecoins could come from a bounce in cryptocurrency value, though this shouldn’t be the basis for mining and miners shouldn’t place their hopes on such an outcome. The better option being to invest in cryptocurrencies and hold in the more traditional way rather than get involved in mining.
So, to get started, there is a list of requirements to get into mining for Litecoins, Dogecoins and / orFeather coins:
• Create a coin wallet, which is password protected and holds the earnings from mining, while also keeping a network wide ledge of transactions.
• A mining software package made up ofcgminerand stratum.
• Membership at an online mining pool, where the pooling of hardware resources will increase profitability and stability of returns.
• Membership to an on-line currency exchange, where coins can be exchanged for cash and vice-versa.
• A full time internet connection with at least 2 MB per second.
• A location to setup the hardware, which will need to be somewhere cool.
• A desktop or mining rig, with a separate dedicated computer recommended, as mining and gaming cannot run at the same time.
• An ATI graphics processing card (GPU) or an ASIC mining chip, the cost of which can be up to $3,000 each for new or $90 for used.
• A house fan to keep the mining computer cool, which is essential for mining success.
If the above is unfeasible, then cloud mining is an alternative.
While Bitcoin may well continue to have the largest market cap amongst the cryptocurrencies, as is the case with any asset class, miners and coin investors alike will be looking for value in the market and how the playing field is likely to expand in the years ahead, which could see other cryptocurrencies capture some of Bitcoin’s allure.
To put it into perspective,Bitcoin is now accounts for just under 50% of total market share of cryptocurrencies, despite the fact that Bitcoin’s market capitalisation has surged from around $10bn to over $40bn over the last year and having accounted for as much as 80% of total market capitalisation of cryptocurrencies a year ago, taking the total market cap of cryptocurrencies from $12.5bn to a whopping $90bn.
With the banking system looking to get involved,Ripplehas certainly positioned itself to take advantage of the banking sector’s desire to get back at Bitcoin, with Ripple gaining traction in partnering with the banking sector in the digital currency world.
If it plays out and draws in all of the major banks, with deals having already been struck with the likes ofRBCandBank of America, Ripple could be the next wave in the market, though with Ethereum’s smart contract platform and decentralized network, it’s hard to bet against it, despite its recent issues, with many citing Ethereum as the next big player and the only cryptocurrency that could topple Bitcoin from the top spot.
Innovation will be key to the success of Bitcoin’s competition, whileBitcoin could continue to riseshould the cryptocurrency become even more widely accepted by merchants and governments across the globe, the only uncertainty being the effects of regulation should it ever come about.
On the mining front, with the largest mining organizations making it difficult to mine for the likes of Bitcoin, increased mining for the smaller cryptocurrencies is certainly likely, but hashrates are unlikely to ever reach the levels seen for the likes of Bitcoin and Ethereum, so to see similar exponential growth may be a hard push from mining itself.
Looking to see how decentralization can benefit everyday businesses and in which areas is where investors should be focused on,Ethereum’s smart contractsan example of how an archaic process can be brought forward to the 21stcentury.
While some miners will look to build their own mining rigs, the advancements in the cryptocurrency space have led to the creation of another form of mining, referred to as mining pools.
Bitcoin mining pools provide Bitcoin miners the ability to pool resources together, combining hashing power, dividing the spoils according to the amount of shares they contributed to solving the puzzle.
As hashrates accelerated, largely attributed to the development of mining data centres and cloud mining, the complexities of the puzzles have also increased, which left miners requiring even faster hashrates that an individual miner with a home system would unlikely be able to achieve.
Pooling resources is one of the solutions in generating the necessary hashrate, so that blocks can be created more quickly, thereby increasing income for the miner and on a frequent basis, which would not be the case if a miner mined alone.
Miners are awarded shares once proof of work in solving the puzzle has been verified.
When choosing a mining pool the prospective miner will need to find a pool that sits within the philosophy of the miner with regards to Bitcoin mining, which requires some degree of due diligence.
The fork event that is expected at the end of the monthhave come about as philosophies towards Bitcoin diverge and it ultimately comes down to the responsibility of each and every miner to ensure that the pooling and increased hashpower goes to the appropriate network and not one that looks to move Bitcoin in a direction in which, you as a miner, are not aligned.
Before joining a Bitcoin mining pool a prospective miner will need Bitcoin mining software and a Bitcoin wallet.
There are many Bitcoin mining pools in existence today, with a few holding the lion’s share of the blocks, these beingAntpool, which holds 15% of all blocks;F2Pool, which holds 12% andBitFury, which holds 11.8%, though BitFury is a private pool and cannot be joined, with BTCC holding 7%.
While these are the largest of the mining pools, the general view is that it is better to join one of the smaller pools to ensure that there is no build up in hashpower that could lead to concentration of blocks with pools that have malicious intent.
Antpool has been singled out as a pool that was reported to have included malware within mining equipment being sold, with the malware designed to remotely shut down equipment of customers or competitors in the interest of increasing Antpool’s profitability.
Bitcoin mining is normally carried out in countries that tend to have the cheapest electricity costs, with China mining the most Bitcoins and is therefore the largest exporter of Bitcoins, with Antpool, F2Pool andBTCChaving interfaces in China, which can lead to language barrier issues for non-Mandarin speakers, though China is also estimated to hold as much as 60% of Bitcoins’ hashpower
Other geographies with sizeable numbers of Bitcoins include:
• Georgia: Home to BitFury
• Sweden: Home to KnCMiner
• U.S: Home to 21 Inc.
Combined, the 4 countries above have an estimated 80% of all Bitcoins, which suggests that they will be able to mine 80% of Bitcoins.
www.bitcoinmining.comrecommendsp2poolfor a fully decentralized mining pool.
Finally, it’s important not to confuse mining pools with cloud mining, as mining pools require miners to have the actual mining equipment in order to share the spoils, whilst cloud mining does not, but incurs a fee in its place, clouding mining service providers ultimately doing the mining and providing returns.
For mining, crypto hashrates are of particular importance from an income perspective.
Each miner, depending on the hardware used, will have a particular calculation speed, which is commonly referred to as the hashrate, with the miner’s profit correlated to the miner’s hashrate.
The hashrate is a measure of the power of the miner’s hardware and reflects the frequency of hash function computation per second.
Hashes are designed to be a variable and so, to solve a particular hash, the best course for success is to try as many random inputs as possible per second, until the correct input is found.
A miner who finds the correct input will then broadcast it and, upon verification, becomes the next block thecryptocurrency’s blockchain.
The miner will then receive the reward for contributing his or her hardware resources to operate the cryptocurrency protocol.
There is no simple way to find the correct inputs and so requires a search, with the probability of success rising with faster hardware. There are now machines that can compute trillions of these hashes each second, which is why using a home computer or laptop will simply not cut it in the mining world.
As an example, if an investor has a hashrate of 10 Ethers per day and puzzle complexity rises by 30%, the investor’s daily mining income at the same hashrate, but with increased complexity, would fall and the more miners that enter the greater the fall in income, the calculation above, assuming that no new miners enter, the investor’s money would fall by 23%, 7.69 Ethers.
Hashrates are of particular importance in both the trading and the pricing of cryptocurrencies, with any increase in a cryptocurrency’s exchange rate also driving up the mining’s hashrate, which tends to lag whilst proportionate to the size of the exchange rate moves, the two being correlated.
As a miner, your profit will ultimately be dependent upon how much hashing power you contribute to the network. Assuming your hashrate remains the same, as the network’s total hashing power increases, the miner in question’s hashing power falls relative to the network.
The more hashing there is within a given network, the less profitability there is for an individual miner.
Once a miner has understood the mechanisms behind the mining process and the importance of having a fast enough hashrate to generate income, the next question will be for which cryptocurrency a miner wishes to hash or mine.
The most well-known cryptocurrency is Bitcoin established in 2009, which has until recently dominated the mining world, but there are others including Ethereum launched in 2015, Ripple (2013), Litecoin (2011) and many more, with more than 900 cryptocurrencies currently active and being mined for and the number is growing.
By market capitalization, Bitcoin has the largest blockchain network, followed by Ethereum, Ripple and Litecoin.
Each cryptocurrency will have different functions. Bitcoin was ultimately established to be a digital currency, which is become more widely accepted by governments and merchants across the world as an alternative to traditional currencies.
In contrast, Ethereum, which is fuelled by its currency Ether, was developed to not only be a digital currency, but also to include smart contracts, which use blockchain stored applications for contract negotiating and delivering contracts, with the blockchain environment providing a decentralized approach to verify and enforce.
An added advantage of Ethereum is that it allows the creator to create digital tokens that are essentially shares in the virtual world, providing proof of ownership with the smart contracts being compatible with any wallet or exchange, providing a medium for developers to raise funds for projects.
From a transaction time perspective, Ethereum breaks the mould, with a transaction time of as little as 10 seconds for confirmation, competing with credit card confirmations.
With so many cryptocurrencies available, each will have different functions and benefits.
Litecoin, which has a market capitalization of around $1.6bn, has provided a significantly faster transaction time, compared with Bitcoin. Bitcoin transactions can take as long as 10 minutes to confirm, whilst the speed of Litecoin transactions are significantly lower at around two and a half minutes.
Ripplehas a transaction confirmation time of a few seconds, as it has no public ledger and uses an “iterative consensus process.”
For now, despite the transaction speeds, Bitcoin is most widely accepted though still far from where it needs to be, to really compete with cash and credit cards and, to add to the nuances, increasing numbers of cryptocurrencies are fragmenting the market, with Bitcoin losing market share, despite other cryptocurrencies generally not being accepted or recognized by governments or merchants who have embraced Bitcoin.
Cryptocurrencies have seen sizeable returns of late, easing the bubble talk as the markets look back on opportunities missed and what’s likely to come, with Bitcoin not alone in the exponential growth being seen, sizeable gains seen across the crypto world, as the market cap passes the $90bn mark, following a blip in the markets over concerns ofa Bitcoin civil warthat could see the largest cryptocurrency by market share, disintegrate, taking the rest of the crypto world with it.
The recovery ahead ofthe 1stof August fork eventsuggests that the panic is over, with Ether having fallen to sub-$200 levels for the 1sttime since 2014 before recovering, Ether having surged to beyond $400 in June, with the gains widespread across the cryptos, the break through $90bn representing an almost 50% increase since mid-July, when total market cap had fallen to $61bn.
As the cryptocurrency market continues to rise, hashrates certainly influencing direction, with the combination of increased demand for cryptocurrencies and advancements in hardware technology driving hashrates higher, miners having started on desktops before moving to building warehouses of hardware dedicated for mining.
To put it into perspective, hashrates have surged from under 1,500,000 trillion hashes per second (TH/s) to over 6,000,000 TH/s in just the last 12-months.
Prices for mining hardware have been on the rise as demand continues to increase, as the cryptocurrency net widens. As more and more miners come on board, whether hashrates can continue to rise at the rates seen over the last few years remains to be seen, mining having already advanced from miners sitting at home with desk tops to the more advancedASIC hardware.
The real question will be whether leading mining companies have upgraded mining rigs, with some mining companies seeing total hash rates increase, whilst others have fallen, in recent months
It suggests that a pickup in hashrates is on the horizon as large mining companies look to upgrade mining equipment, though this will ultimately depend on valuations through the coming months.
Optimism remains for now on mining profitability as new hardware hits the market and mining organizations look to upgrade mining hardware, with an increase in investment capital expected to enter the mining domain. It will boil down to hardware technological advancements keeping up with the pace.
Thisarticlewas originally posted on FX Empire
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• Comex High Grade Copper Price Futures (HG) Technical Analysis – July 17, 2017 Forecast || Does Bitcoin Have a Mining Monopoly Problem?: During bitcoin’s early days, anyone could “mine” it using their home computer. But as the price of digital currency climbed towards $100 in 2013 (it’s now over $4,000), professional mining groups with specialized computer chips emerged. Today, these groups, or pools--nearly all based in China--have become concentrated and now dominate the production of new bitcoins.
This phenomenon is not new, but an article inQuartzthis week shows how pervasive it is. The article looks at a company called Bitmain, which became a powerhouse by developing ASIC chips used just for bitcoin mining:
Bitmain may now be the most influential company in the bitcoin economy by virtue of the sheer amount of processing power, or hash rate, that it controls. Its mining pools, Antpool and BTC.com, account for28.9% of all the processing poweron the global bitcoin network.
The piece, which describes Bitmain’s plans to move into artificial intelligence, profiles the company’s co-founder Jihan Wu, a controversial figure in the bitcoin world--in part over allegations he manipulates the crypto-currency for his own ends. This includes the recent schism that saw bitcoin’s blockchain (the record of all transactions) split in two, creating a new currency called “Bitcoin Cash.”
Critics of Bitmain suspect that Wu was behind the recent, somewhat related split of bitcoin called thebitcoin-cash hard fork.That split was supported by a miner in Shenzhen named ViaBTC--which happened to be a company that Bitmain has invested in.
If the allegation is true (for the record, Wu denies them), it suggests bitcoin is vulnerable to market manipulation not just by traders who hold large stores of bitcoin, but also by miners like Bitmain.
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One of those who holds this view is the CTO of the cyrptocurrency consulting firm Blockstream, Samson Mow, who recently wrotean editorialforFortunequestioning the viability of Bitcoin Cash. He believes Wu is engaging in shenanigans to secretly undermine the integrity of bitcoin.
“Jihan does have a lot of control for now, and much of that is simply due to mining centralization. As Bitmain is so vertically integrated, from selling ASICs, to operating mining farms, to running mining pools, he can prevent network upgrade and attempt to hijack the Bitcoin brand with things like [Bitcoin cash],” Mow said by email.
Such concerns over mining monopolies, and their ability to promote “forks” in the core bitcoin software, are typically regarded as philosophical feuds within the bitcoin community. But the real world market implications may also give pause for ordinary bitcoin buyers--many of whom are likely unaware of the emergence of mining cabals that are able to sway the future of bitcoin.
Mow, though, believes that whatever influence Jihan and other large miners may exert is only short-term and that the decision by bitcoin users to implement projects like SegWit (a plan to improve the efficiency of bitcoin’s blockchain) show bitcoin remains fundamentally democratic.
This is part ofFortune'snew initiative,The Ledger,a trusted news source at the intersection of tech and finance. For more onThe Ledger,click here.
See original article on Fortune.com
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• This Country May Launch Its Own Virtual Currency || AP Explains: Threat of a bitcoin split avoided, for now: On the eve of a major change in bitcoin, a threat of a split in the digital currency has been avoided for now. A move by users to force a change in the computer code by Monday has worked. A majority of "miners" the core bitcoin users who verify bitcoin transactions around the world has signaled support. Though the change is designed to improve capacity on the increasingly clogged network, some miners had objected because it could reduce transaction fees they collect. The show of support has helped reverse a slide in the value of bitcoin from around $1,900 two weeks ago to roughly $2,800 on Monday. However, some uncertainty still remains. A May agreement between large bitcoin companies effectively pushes the threat of a split off until November. And one proposal to launch an alternative currency, Bitcoin Cash, is sowing confusion and fears of scam trades. Here's a look at the current dispute. ___ WHAT IS BITCOIN, AGAIN? Bitcoin is a digital currency that's not tied to any bank or government . Like cash, it lets users spend or receive money anonymously, or mostly so; like other online payment services, it also lets them do so over the internet. The coins are created by miners, who operate computer farms that verify other users' transactions by solving complex mathematical puzzles. These miners receive bitcoin in exchange. It's also possible to exchange bitcoin for U.S. dollars and other currencies. Bitcoin has been touted as a currency of the future, but so far it hasn't proven very popular as a way to pay for goods or services. ___ WHAT'S BEHIND THE FUSS? In a word, speed. The bitcoin network is limited in how quickly it can shuffle around digital money. As bitcoin has grown, payment delays have become more common and worrisome. Some software developers came up with a way to speed things up by reengineering bitcoin's universal ledger, a file called the blockchain. Supporters of the new method include Microsoft, the bitcoin exchange Coinbase and a variety of other bitcoin proponents who would like to see the currency used more widely in commerce. Story continues Reformers had threatened to stop recognizing transactions confirmed by miners who hadn't adopted the upgrade. ___ WHAT WOULD A SPLIT MEAN? Generally speaking, chaos though mostly limited to those who use or squirrel away bitcoin. People who use bitcoin couldn't be sure which version they held, or what might happen if they spent it or accepted bitcoin as payment. Taking bitcoin, for instance, could leave you with currency you couldn't spend freely and that might disappear entirely if it ended up being the "wrong" kind. That's one reason the community-supported website Bitcoin.org had warned users not to accept any bitcoin up to two days prior to Monday's deadline and to wait for confirmation the situation had been resolved before trading again. But the change now has the support needed to proceed, so a disruption isn't likely this week. ___ WHAT ARE THE REMAINING ISSUES? A separate group of developers sought to solve the speed issue by proposing a new currency called Bitcoin Cash. It effectively rewards every owner of bitcoin with an equal amount of the new currency using a system that can handle much higher volumes of trades. But some digital currency exchange operators including Coinbase and Bitstamp have said they won't support Bitcoin Cash. And Cornell computer science professor Emin Gun Sirer says savvy traders can game the system to create free money for themselves. Bitcoin Cash was slated to launch Tuesday. As of Monday the price of Bitcoin Cash futures was about one-tenth of bitcoin itself. Tone Vays, a bitcoin analyst and consultant, says he thinks Bitcoin Cash is destined to become one of many alternative digital currencies known as "alt-coins." He says the concept is similar to Clams , digital coins that were also awarded to bitcoin holders in 2014 but now trade at about one-thousandth of bitcoin's price. Once Bitcoin Cash goes live Tuesday, people "will immediately sell it for bitcoin," he said Monday. Meanwhile, major companies that came together on the May agreement committed to a second change by November that could still result in a split of bitcoin into two incompatible currencies if a significant number of miners don't agree. "The big drama has thus been postponed," Sirer said in an email Monday. ___ Follow AP Technology Writer Ryan Nakashima at https://twitter.com/rnakashi || Bitcoin leaps nearly $600 in three days to all-time highs, leaving 'bitcoin cash' in the dust: Bitcoin(Exchange:BTC=)climbed above $3,400 to trade at all-time highs on Monday as investors gained confidence in the future of the digital currency.
Its price rose nearly 5 percent, to $3,451.86, up almost $600 from Friday's $2,900 levels, according to CoinDesk. Bitcoin has more than tripled this year and has gained 18 percent in August.
"That's what supports the cryptocurrency right now, confidence," said Ronnie Moas, founder of financial research firm Standpoint Research.
"If there's something that shakes people's confidence in crypto then they will sell off. The further we get into this game the less likely you will get something like that," Moas said. He said he's "heavily invested" in digital currencies, and in late July he issued areport predicting bitcoinwill reach $5,000 in 2018.
Bitcoin now has a market capitalization of about $56 billion. For comparison, General Motors(GM)has a market cap of $51 billion.
Bitcoin one-week performance
Source: CoinDesk
Most enthusiasts attributed the price gain to a relief rally after the relatively smooth split of the digital currency into bitcoin and "bitcoin cash."
The currency split, or "forked," on Aug. 1 after a minority of developers went ahead with their own upgrade proposal to improve transaction speed on the digital currency network. That upgrade, creating bitcoin cash, was incompatible with a more popular proposal called Segregated Witness, which the original bitcoin is set to lock in in the next few days.
"I think a lot of new investors were waiting on the sidelines until after the hard fork" into bitcoin and bitcoin cash, said Benjamin Roberts, co-founder and CEO of Citizen Hex, an ethereum-focused start-up backed by three Canadian venture funds.
"Now that it has happened with a favorable outcome (Bitcoin + Bitcoin Cash > Bitcoin), new fiat money is entering into the space," Roberts said in an email. Fiat currencies include the dollar, the yen and the euro.
Bitcoin traded in yen accounted for nearly 42 percent of trade volume, up from about one-third in the last few days, according to CryptoCompare. About 26 percent of bitcoin traded in dollars, the site showed.
Bitcoin cash swung wildly in its first week from above $700 to below $300. As of Monday morning, the digital currency recovered from a weekend dip to near $200 to trade near $260, according to CoinMarketCap. That's less than one-tenth of the original bitcoin's record-high price.
Another digital currency, ethereum(Exchange:ETH=), edged up a quarter of a percent to near $269, according to CoinDesk.
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• ETFs are taking over the world, and there's nothing anyone can do || Bitcoin hits a record high near $3,500 ahead of a big change in its software: (The opening of Hong Kong's first bitcoin retail store.Reuters/Bobby Yip)
Bitcoin's foray into record territory continued Tuesday as the cryptocurrency reached nearly $3,500 a coin. Early buying propelled bitcoin to a high of $3,486 before sellers managed to push it back down to the unchanged line near $3,390.
The gain came ahead of a big change in bitcoin's network.
On Tuesday, bitcoin's blockchain network will begin adopting new software called Segregated Witness, or SegWit.
"SegWit is a clever solution that essentially increases transaction capacity," according to Aaron Lasher, the chief marketing officer of Breadwallet, a bitcoin technology company.
The software was devised years ago as a solution to the cryptocurrency's scaling problem, which divided bitcoin power brokers for years and led toa split on August 1.
Investors were virtually unfazed by the split, which resulted in the creation of a clone coin called bitcoin cash. Selling on that day dropped bitcoin to a low of $2,643. But it has rallied by about 30% since its August 1 bottom.
As for how high bitcoin can go, Sheba Jafari, the head of technical strategy at Goldman Sachs, said back in late July that the cryptocurrency had the "scope to reach 3,691." Jafari has been spot on with her bitcoin call, earlier predictinga big drop was coming.
Dennis Porto, a bitcoin investor and Harvard academic, told Business Insider that over the long term he had noticedbitcoin's price was following Moore's law, a first for a technology's price, and said he thought bitcoin could reach $100,000 by 2021 as long as that continued.
"This poses a unique opportunity for investors: Whereas it was difficult to invest in circuits or internet speeds, it is easy to buy a bitcoin," Porto told Business Insider.
(Markets Insider)
NOW WATCH:Wells Fargo Funds equity chief: Tech stocks are 'overvalued,' but you should still buy them
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• Bitcoin cash is crashing
• Bitcoin cash may be a house of cards that comes crashing down
• Bitcoin is expected to 'fork' today, and its price could take a dramatic hit — here's what that means || HK regulator warns of strict norms for digital currency offerings: By Elzio Barreto HONG KONG (Reuters) - Hong Kong's Securities and Futures Commission (SFC) warned on Tuesday it may regulate some fundraisings that are done through digital currencies as volumes of the so-called initial coin offerings (ICOs) surge around the world. The move comes just a day after China banned and deemed illegal the practice of raising funds through launches of token-based digital currencies, causing a plunge in the price of popular ones, including Bitcoin and Ethereum. Bitcoin slid 1.9 percent in mid-afternoon trade in Hong Kong, adding to the previous session's slump of 7.2 percent. ICOs have become a bonanza for digital currency entrepreneurs globally, and have provided the fuel for a rapid ascent in the value of cryptocurrencies this year that has driven fears of a bubble that could burst. The regulator said while some ICOs could be treaded as a type of "virtual commodity" which is not regulated, others that offer equity or ownership interest or acknowledge a debt or liability may be considered a security and are subject to laws in the city. The SFC added that firms offering ICOs deemed as securities would also have to be licensed or registered with the regulator. Regulators around the world are rushing to tighten rules around ICOs to prevent potential fraud, money laundering and improve investor protection. Hong Kong's move follows similar warnings in the United States, Singapore and Canada. In total, about $2.32 billion has been raised through ICOs, of which $2.16 billion was raised this year alone, according to cryptocurrency analysis website Cryptocompare. (Reporting by Elzio Barreto; Editing by Sherry Jacob-Phillips) || GOLDMAN SACHS: Here's when we'll know bitcoin's top is in: FILE PHOTO - A Bitcoin sign is seen in a window in Toronto, May 8, 2014. REUTERS/Mark Blinch/File Photo (A bitcoin sign in a window in Toronto.Thomson Reuters) Bitcoin is experiencing a monster rally. It has gained more than 15% since Friday's close , topping $4,000, $4,100, and $4,200 for the first time before putting in a high of $4,216 a coin on Monday morning. But that's only part of bitcoin's recent success. The cryptocurrency has seen huge gains since the August 1 fork that split it in two. Since bottoming at $2,643 a coin the day of the split, bitcoin has exploded by 57%, and it is now up 335% in 2017. Sheba Jafari, the head of technical strategy at Goldman Sachs, wrote in a note sent to clients on Sunday that because bitcoin was approaching her target of $3,691 (which it has since passed), an extension wave five of this move could take bitcoin all the way up $4,827 before a correction pushes it all the way down to about $2,221. Jafari isn't the only one who sees bitcoin approaching the $5,000 level. Arthur Hayes, the CEO of BitMEX , a bitcoin derivative exchange, expressed that view to Business Insider after last week's implementation of Segregated Witness, or SegWit, a software update designed to improve the coin's scalability and make it faster to process more transactions. "With Segwit implemented, I believe $5,000 bitcoin is within striking distance," he said. Bitcoin enthusiasts, however, shouldn't get too excited about the big move up. Jafari warns that the gains are unlikely to last. She sees a drop of as much as 38.2% once the fifth wave is completed. That would mean a move back below $3,000. "At this point, Bitcoin would have to move back under 2,935 (Jul. 21st high/top of wave 1/V) to signal that a top is already in place," Jafari wrote. Bitcoin (Goldman Sachs) NOW WATCH: Wells Fargo Funds equity chief: Companies were being rendered obsolete long before Amazon emerged More From Business Insider Bitcoin can get to $100,000 if it keeps following one of tech's golden rules Bitcoin just hit an all-time high — here's how you buy and sell it One of the stock market's biggest opportunities is being ignored || 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 onBitcoin Cashand 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 estimatedthat its cold storage reserves dropped to half of their previous level following customer withdraws.
Yet, despite that,a number of Coinbase investors told Business Insiderthat 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 becamethe third largest cryptocurrencybased 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.
[Random Sample of Social Media Buzz (last 60 days)]
Cotizaciones al 13/08/2017 04:00 AM
Bitcoin (BTC): 23.154.676
Ethereum (ETH): 1.659.938
Litecoin (LTC): 261.133
BTC Cash (BCH): 1.722.588 || ION PRICE
Bid: $1.52
Ask: $1.52
Last: $1.52
1 BTC: $4225.00
Tweet number: 276 || #fiat has no real value either. #Bitcoin 'Has No Intrinsic Value' But Neither Does Fiat: Opinion - CoinTelegraph https://cointelegraph.com/news/bitcoin-has-no-intrinsic-value-but-neither-does-fiat-opinion … || Amigos amantes del Bitcoin! Guarden está moneda bajo 7 llaves que en 2 años estará a más de 10000 dólares || BTC Real Time Price: ThePriceOfBTC: $2365.00 #bitstamp;
$2360.54 #gemini;
$2371.17 #GDAX;
$2370.00 #kraken;
$2374.99 #btce;
$2349.00 #itBit… || It would be auspicious to buy at https://Bittylicious.com/refer/2465 £3,211.52 per BTC. (BPI +0.42%) #buy #bitcoin #banktrans || @BitcoinSuisseAG is bringing crypto into Swiss Private Banking! #FalconPrivateBank #SwissBanking #Bitcoin #Ethereum https://t.co/MryfsOLa0H https://t.co/FEZpdWU7ej || what a good example how to visit all cheap whores around instead of good girls trying to build family lol #cryptocurrency #bitcoin #reddithttps://twitter.com/RedditBTC/status/896795264740143105 … || SegWit2x and Other Hard Forks are not an Official Part of the Bitcoin Core Roadmap: Now t.. #bitcoin #blockchainhttp://dld.bz/fZEfj || Quand Craig Wright affirme qu’il est l’inventeur du bitcoin https://goodbanque.com/devises/quand-craig-wright-affirme-quil-est-linventeur-du-bitcoin/2762/ …pic.twitter.com/7Hj17XLYMU
|
Trend: down || Prices: 4597.12, 4599.88, 4228.75, 4226.06, 4122.94, 4161.27, 4130.81, 3882.59, 3154.95, 3637.52
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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.
|
[Technical Analysis for 2015-10-15]
BTC Price: 254.32, BTC RSI: 70.37
Gold Price: 1187.90, Gold RSI: 70.46
Oil Price: 46.38, Oil RSI: 50.22
[Random Sample of News (last 60 days)]
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) || Your Old Credit Card’s Now Obsolete. Now What?: (Rob Pegoraro/Yahoo Tech)
Something weird has been happening to our wallets: Computers have invaded them, one credit card at a time.
This overdue migration from cards with magnetic stripes on the back to “EMV” cards that add a tiny computer chip on the front reached a semi-important point Thursday: the “liability shift,” a rebalancing of powers between card issuers and merchants in the U.S. that may change who eats the cost of a bogus transaction.
For most of us, Liability Shift Day should be the most boring holiday ever. Only a minority of debit and credit cards have EMV chips (“EMV” stands for“Europay, MasterCard and Visa,” the three parents of the system), and the share ofretailers taking chip paymentsis even smaller.
But over time, things will change. Here’s how:
How exactly do I pay with a chip?
Instead of swiping a card with that satisfying flick of the wrist, you pop the card into a slot in a card terminal. Then you leave it there as the chip generates a one-time code (like the three- or four-digit number on your card for online purchases), the terminal processes the transaction, and you sign to complete it.
In my experience, that takes a few seconds longer than a mag-stripe card—assuming the stripe was able to read on the first try, which we all know doesn’t always happen.
Where can I pay with the chip?
Your chip transactions may be confined to major merchants like Walmart, Home Depot, and Target. It’s not enough to see a “point of sale” terminal with an EMV slot; that part may be inactive.
For example, my neighborhood’s Whole Foods accepts Apple Pay and other phone payments but not EMV. Spokesman Michael Silverman said the chain plans to fix that across its stores… by the end of 2016.
A complete upgrade across U.S. retail will take longer. On a conference call Wednesday, Visa vice president Stephanie Ericksen said 314,000 establishments take chip payments, up from 55,000 last September—but that’s out of a total of maybe 6 million to 8 million.
How do I get EMV versions of my cards?
If you haven’t already been issued chipped versions of your cards—those in my wallet reached that blessed statein July—you’ll have to ask your issuer what the holdup is.
While you wait, you might as well use that time to shop around and see if you can switch to a card withbetter cash-back or travel rewards.
Will chip cards stop data breaches?
Sorry, no. With EMV, your card number and expiration date still get sent in the clear to the store and beyond. If somebody hacks the terminal or the software upstream, they can still go to town with your card.
“It does not take care of making sure that the data is protected as it travels through the various layers of payment systems,” explained Erik Vlugt, a vice president at the payment-processing firmVeriFone.
EMV cards also remain usable if lost or stolen unless they’re further secured with a PIN. That’s common with European but not U.S. cards. (More on that later.)
So what security problem does EMV actually solve?
Chip cards can’t be cloned the way stripe cards can. Counterfeiting is a huge problem, accounting for37 percent of all U.S. credit-card fraud in 2014—second only after “card not present” theft staged online or over the phone, according to the research firmAite Group.
Crooks have had a clear economic incentive to clone cards, security researcher Brian Krebs noted ina 2014 explainer: A counterfeiter “walks into a big box store and walks out with high-priced electronics or gift cards that he can easily turn into cash.”
Who pays with the liability shift?
Definitely not you — just like today, fraud isn’t your problem as long as you report it. But merchants can pay more, subject to various rules. AsNational Retail Federationgeneral counsel Mallory Duncan summed up in an e-mail: “Whomever has the more evolved equipment (in a counterfeit situation) wins.”
That is, if the bank issued a chip card, the crook shows up with a counterfeit version of it, and the merchant doesn’t process chip transactions, the merchant is liable to eat the cost. But it can get complicated: “There are scenarios where both parties accept a certain percentage of the responsibility,” MasterCard product-delivery head Carolyn Balfany said over e-mail.
Note, too, that retailers already pay for some fraudulent transactions, as you can see inVisa’s “chargeback” rules. In turn, all of us pay in the form of slightly higher prices, same as we collectively pay for the“shrinkage”of shoplifting and employee theft.
What if a store doesn’t take EMV?
Good luck judging a store’s security, although some modern payment gadgets likeSquare’s card readersdo encrypt card numbers automatically.
If you can use your phone to pay for things, do it. Apple Pay and Android Pay do“tokenization,”meaning they generate a new card number for each transaction. Or you could pay with cash,Bitcoin,bartered chickens, or any other mutually agreeable medium of value.
What about chip-and-PIN?
You may have read that chip-and-PIN cards are more secure because you have to type a number matching the one stored on the chip. But that’s not why they exist: When EMV cards arrived in Europe, many establishments didn’t have online access to verify transactions with issuers and so needed authentication that worked offline.
U.S. banks have avoided PIN because, hey, who wants to remember another number? (A few months ago, Underwriters Laboratories innovations director Maarten Bron said he’d seentoo many chip-and-PIN holders write down their PIN on the back of their cards.)
International travelers have complained that signature EMV cards don’t work at kiosks in Europe. Visa’s rules now require those unattended terminals to waive the PIN; it says that in a recent test across five EU states,90 percent of signature-card transactions worked.
So how do we stop online fraud?
Payment-processing systems can ensure they have nothing worth stealing by not keeping card numbers intact—what Visa calls “devaluing” that data.
In that respect, the slow adoption of EMV security could give lagging merchants a chance to jump to an Apple Pay level of security. SaidPCI Security Standards Councilchief technology office Troy Leach: “We’re hoping that they buy the next generation of security, which is encryption and tokenization.”
I hope he’s right. But I won’t be too surprised if five years from now, a shop with connectivity issues still has to dust off a“knuckle buster”card imprinter to take my payment on a slip of carbon paper.
EmailRobatrob@robpegoraro.com; follow him on Twitter at@robpegoraro. || Investors Look To China For Bargain Buys: August was a messy month for Chinese share markets, but many believe that Beijing's plans to modernize financial markets and shift toward a consumer-focused economy will be enough to turn things around in the future. For that reason, some investors are picking through the Chinese market's rubble and looking for bargain buys . Who Stands To Gain While commodities are still considered too risky, investors are turning to promising sectors like insurance and consumer goods which are expected to weather the economic storm. China Taiping Insurance Holdings Co. (OTC: CTIHY ) lost 35 percent following the yuan's devaluation, but the company's growth in recent years suggests that its financials are solid. Firms like liquor retailer Kweichow Moutia Co., maintain high profit margins, but the recent crash has stripped more than 20 percent from their share values. Related Link: Why China Isn't Killing Alibaba Location, Location, Location Many investors are looking to blue chip stocks traded on American exchanges but headquartered in China for a good deal. China Mobile (NYSE: CHL ), has long been considered a good buy as the company's position as China's largest network provider and its partnership with Apple Inc. (NASDAQ: AAPL ) have given it a leg up over other telecoms. However, the company's shares have fallen 8.5 percent over the past month as uncertainty in China persists. Worth The Risk? While investing in China now could be a profitable decision, many are still wary of taking positions at such an uncertain crossroads. While Chinese officials have promised to make the nation's markets more approachable to Western investors, their tactics to restore balance to share markets have been questionable. Limits on buying and selling coupled with government led efforts to inflate prices have made China's share markets a risky bet for outsiders . Others worry that the nation's economy is doomed to continue declining despite lawmakers' best efforts, something that would weigh on even the country's strongest firms. Story continues See more from Benzinga Phone Carriers Hoping To Profit From New iPhone AXA Interested In Bitcoin's Potential IBM Uses Tennis To Demonstrate Its Dominance In Data © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Will The New York Times Piece Damage Amazon?: On August 15, the New York Times published an article slamming e-commerce giant Amazon.com, Inc. (NASDAQ: AMZN ) for its unforgiving corporate culture. The piece describes in with anecdotal stories how employees are pushed to their limits in an environment that thrives on tension and inspires fear. The piece gained traction on social media and many customers said it was enough to stop them from using the service in the future. However, shares of Amazon are up 72.46 percent year-to-date, leading many to wonder just how much damage the article will do. Bezos Strikes Back Following the release of the article, Amazon CEO Jeff Bezos sent out a staff memo in which he asked employees to contact him directly if they'd received the kind of treatment the New York Times had described. He maintained that Amazon's culture is very different from what was depicted and said he was shocked by the stories told. Other current Amazon employees took to the Internet in defense of Amazon, saying that the descriptions were inaccurate and that the company has been misrepresented. Related Link: Amazon's Quarter Was A 'Full-On Crusher' Solid Performance While the article may have temporarily tarnished Amazon's glow, the company's solid Q2 performance is likely to overshadow complaints about management from an investors' perspective. In July, the company released strong Q2 sales and impressive financials which suggest that Amazon is on an upward trajectory. From a money-making point of view, the article has done little hurt the retail giant's appeal. Public Perception In the social media age, public perception is a huge part of a company's success. SeaWorld Entertainment Inc . (NYSE: SEAS ) lost a huge volume of customers after being slammed in the media for its treatment of orcas and Amazon similarly runs the risk of being known as a cruel company that treats its workers poorly, something that could deter shoppers from using the site. However, so far the fallout from the article appears to be minimal, with most expecting more outrageous comments from the 2016 Presidential hopefuls to redirect the public's attention in the coming days. Story continues See more from Benzinga What's Happening To Media Stocks? Bitcoin Rewards Gain Popularity Bitcoin, Marijuana And Drones: Meet Trees © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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 new Cable & Wireless Communications Plc (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." Story continues 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 || 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.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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 || 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 || GreenBank Subsidiary GreenCoinX Enables XGC to Trade on 15 Crypto Currency Exchanges: TORONTO, ON / ACCESSWIRE / September 14, 2015 / GreenBank Capital Inc (CSE:GBC) ("GreenBank") announces that its 80% owned subsidiary GreenCoinX Inc, the developer of the world's first identifiable crypto currency, and which has XGC as its digital currency identifier, and Crypto Next PLC an international crypto currency exchange with a "white label" exchange platform that has 14 affiliated exchanges, have agreed that XGC will be added on the Crypto Next platform and as such can be traded on all of its affiliated exchanges. Crypto Next is based in the Isle of Man, and its exchange affiliates provide digital currency exchanges in multiple languages, multiple currencies, and with secure policies in accordance with Isle of Man regulations. The exchanges that can now trade XGC are:- Crypto Next www.cryptonext.net CoinQX www.coinqx.com Coin Cloud Ex www.coincloudex.com Birja Monet www.birjamonet.com Altbitex www.altbitex.com The Crypto Next affiliated exchanges that have yet to complete their review process with respect to trading XGC are:- BitcoinX Romania www.bitcoinxromania.com UniiFund www.unii.fund Stock Digital Coin www.stockdigitalcoin.com.br Targe Exchange www.targoexchange.com Dollar exchange www.edollar.international Bitcoins Greece www.bitcoinsgreece.com Bitopia www.bitopia.io Banx Trade www.banxtrade.com Schilling www.eschilling.org Koruna www.koruna.in As more crypto currency exchanges determine to trade XGC, GreenCoinX will make further announcements. About GreenBank GreenBank is a merchant banking business investing in Canadian small cap companies. Its 80% subsidiary GreenCoinX Inc. is a software company that has developed the world's first identifiable crypto currency. Its 100% subsidiary GreenBank Financial Inc. is an investment bank focusing on small cap companies. GreenBank has an investment portfolio with significant equity stakes in Leo Resources Inc (CSE:LEO), Hadley Mining Inc (CSE:HM) and Zara Resources Inc (CSE:ZRI). Story continues For more information please see www.GreenBankCapitalinc.com or contact Danny Wettreich at (647) 931 9768 or dw@GreenBankCapitalinc.com . About Crypto Next Registered in the Isle of Man, a jurisdiction that is openly friendly towards digital currency companies, Crypto Next's platform has a global reach and offers a variety of languages, with recent additions including Portuguese and Romanian. In addition to providing multiple languages, multiple currencies, banking facilities and a regulatory framework, the Crypto Next platform adds security through vertical decentralisation as well as Isle of Man regulations that state that funds in the exchange be controlled by a Corporate Service Provider, such that fiat currencies in the network are secured by an independent third party. Crypto Next specialises in providing a software platform to "white label" exchanges, that can choose from a variety of features, coins and languages to suit their preferences. All the exchanges in the network share Crypto Next's unique tokenised fee system, whereby transaction fees can be paid for with the Crypto Next Coin (CXC), potentially saving savvy digital currency traders a great deal in fees. All white label exchanges are subject to the company's rigorous AML, CFT Policy in accordance with Isle of Man regulations. More information about Crypto Next is available at www.cryptonext.net . For press contact press@cryptonext.net or USA +1 323 686 3359 or UK +44 870 471 5733. Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of GreenBank Capital Inc., raising additional capital and the future development of GreenCoinX. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and the company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. The CSE has not reviewed, approved or disapproved the content of this press release. This news release is not for distribution or dissemination in the United States of America SOURCE: GreenBank Capital Inc || 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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[Random Sample of Social Media Buzz (last 60 days)]
1 #bitcoin = $4100.00 MXN | $246.14 USD #BitAPeso 1 USD = 16.66MXN http://www.bitapeso.com || 1 #BTC (#Bitcoin) quotes:
$245.16/$245.28 #Bitstamp
$241.74/$242.00 #BTCe
⇢$-3.54/$-3.16
$246.17/$246.18 #Coinbase
⇢$0.89/$1.02 || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000004
Bittrex: 0.00000004
Average $1.0E-5 per #reddcoin
22:45:00 || LIVE: Profit = $612.60 (0.84 %). BUY B315.48 @ $230.00 (#BTCe). SELL @ $231.49 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || Cotización del #bitcoin a las 00:00hs
Venta: 3655 ARS
Compra: 3515 ARS || Current price: 245.26$ $BTCUSD $btc #bitcoin 2015-09-08 05:00:06 EDT || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000004
Bittrex: 0.00000005
Average $1.0E-5 per #reddcoin
19:15:00 || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000004
Bittrex: 0.00000005
Average $9.0E-6 per #reddcoin
20:00:01 || Current value of DOGE in BTC: Vircurex: 0.00000055 -- Volume: 551558.49190583 Today's trend: stable at 09/04/15 00:55 || My robot has 7,00 left! I've earned a total of 11,596,704 free satoshis from http://www.robotcoingame.com/?id=1MXygMB3JkNbh7FiSuc2T4hMiBvwe8soH9 … #robotcoingame #Bitcoin #FreeBitcoin
|
Trend: up || Prices: 262.87, 270.64, 261.64, 263.44, 269.46, 266.27, 274.02, 276.50, 281.65, 283.68
|
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 zooms above $13,000 to record high on relentless demand: By Shinichi Saoshiro and Saqib Iqbal Ahmed TOKYO/NEW YORK (Reuters) - Bitcoin extended its rally on Wednesday, breaking above $13,000 to a record high despite questions about the cryptocurrency's real value and worries about a dangerous bubble. Bitcoin received a boost after Friday's announcement by the main U.S. derivatives regulator that it would allow CME Group Inc and CBOE Global Markets to list bitcoin futures contracts. The move opens the door to added regulation but also more mainstream adoption, as bitcoin futures and other derivatives would make it easier to trade the new asset class. "Simply the perception in households around the world that the CME and the CBOE are providing legitimacy to bitcoin is really what is driving the massive rally here," said Karl Schamotta, director of global product and market strategy at Cambridge Global Payments in Toronto. Bitcoin's ascent of over 10-fold from below $1,000 at the start of the year has drawn regulatory scrutiny around the world. Some high profile individuals such as Nobel Prize-winning economist Joseph Stiglitz have said the cryptocurrency should be outlawed. "It took a long time to establish the methodology and the way bitcoin was traded. The original appeal came from the fact they were unregulated. However it's clearly moved out of those shadows and into centre stage," said Mick McCarthy, CMC Markets' chief market strategist in Sydney. "We are in the throes of a bubble market, and one of the characteristics of a bubble market is that there is no way to know when the bubble will burst." The current craze for bitcoin, and cryptocurrencies in general, have been likened by some to the 17th century Dutch tulip mania and more recently the dotcom bubble. "If you look at this sort of pattern it has repeated itself many, many times. The only way it ends is when sentiment shifts and that's a deeply unpredictable thing," Cambridge Global Payments' Schamotta said. Bitcoin was up 12.42 percent at $13,127.01 on the Luxembourg-based Bitstamp exchange (BTC=BTSP) after surging to the record peak of $13,127.01. "There is a lot of money flowing into bitcoin right now, mostly motivated by "fear of missing out" and greed," said Leonhard Weese, president of the Bitcoin Association of Hong Kong. (Reporting by Shinichi Saoshiro; Additional reporting by Michelle Chen in Hong Kong; Editing by Sam Holmes, Shri Navaratnam and Susan Thomas) || What Happened in the Stock Market Today: A remarkable start to 2018 continued for stocks on Friday. The Dow Jones Industrial Average (DJINDICES: ^DJI) had a 200-point-plus gain for the second day in a row, and the S&P 500 (SNPINDEX: ^GSPC) also closed at a record. Today's stock market Index Percentage Change Point Change Dow 0.89% 228.46 S&P 500 0.67% 18.68 Data source: Yahoo! Finance. Consumer discretionary stocks led the way, with the Consumer Discretionary Select SPDR ETF (NYSEMKT: XLY) up 1.3%. Energy stocks had another strong day; the Energy Select Sector SPDR ETF (NYSEMKT: XLE) gained 1%. Earnings season started in earnest today as several financial companies reported fourth-quarter results. Observers were watching for comments on the effects of the new tax law and rising interest rates, generally a positive for bank profits. JPMorgan Chase (NYSE: JPM) announced a large one-time charge, but core results beat expectations, and BlackRock (NYSE: BLK) revealed a big tax benefit along with strong quarterly results. Upward stock graphs on a red background. Image source: Getty Images. JPMorgan reports strong core business and a big tax charge Excluding one-time items such as a massive charge due to the tax bill, banking giant JPMorgan Chase beat earnings estimates, and investors bid the stock up 1.7%. Net managed revenue for the fourth quarter increased 5% to $25.5 billion and earnings per share were $1.07, but would have been $1.76 without a $2.4 billion charge related to the change in tax law. Investors had expected EPS of $1.69 excluding one-time items on revenue of $25.2 billion. Average core loans were up 6% and net interest income grew 11%, reflecting the benefit of rising interest rates as well as loan and deposit growth. Investment banking was a drag on results, with a 32% decline in profit to $2.3 billion. Fixed income trading was impacted by the new tax law due to losses on tax-advantaged investments, but revenue from that business was still down 27% excluding those effects. The equity trading business was hit with the writedown of a $143 million margin loan to a single customer. Story continues Overall, results were not too different from what the market was expecting. Short-term charges due to the tax bill, softness in the trading business, and longer-term benefits from rising interest rates and lower taxes were the major themes that netted out to a positive outlook going forward. BlackRock beats on strong fund inflows Shares of investment company BlackRock rose 3.3% after it announced Q4 results that beat expectations on both the top and bottom lines. Revenue rose 20% to $3.47 billion, compared with the consensus estimate of $3.32 billion, and adjusted EPS grew 21% to $6.24 versus expectations of $6.02. Net inflows of $103 billion topped last quarter's inflows of $96 billion, and brought full-year inflows up to a record $367 billion. Thanks to strong equity markets, assets under management grew 22% in 2017, compared with an 11% gain in 2016. Adjusted operating margin was 44.8% this quarter, up from 44.4% a year ago but down slightly from 45% in Q3. The new tax law resulted in a benefit to BlackRock of $1.2 billion in the quarter, and when included in the results, pushed GAAP EPS up to a whopping $14.07. The company also announced it is raising its quarterly dividend 15% to $2.88 per share, resulting in a yield of 2.1%. "Full year net inflows represented 7% organic asset growth and were positive across client types, asset classes, major regions and investment styles," said Chairman and CEO Laurence Fink in the press release. BlackRock's highly successful iShares ETFs continue to draw new investment and grow market share, and fans of the parent company's stock are doing well, too, with shares rising 38% in 2017. 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 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 . || The Zacks Analyst Blog Highlights: Winklevoss Bitcoin, Reality Shares, Shares PHLX and VanEck Vectors: For Immediate Release
Chicago, IL – January 23, 2018 – 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 includeWinklevoss Bitcoin ETFCOIN,Reality Shares Nasdaq NexGen Economy ETFBLCN,Amplify Transformational Data Sharing ETFBLOK,Shares PHLX Semiconductor ETFSOXX andVanEck Vectors Semiconductor ETFSMH.
Here are highlights from Monday’s Analyst Blog:
No Bitcoin ETFs in 2018?
Hopes were high about a probable bitcoin ETF launch this year, especially with Cboe Global Markets launching three bitcoin futures contracts on the Cboe Futures Exchange in December. But the U.S. Securities and Exchange Commission (SEC) poured cold water on all hopes.
Responding to two investment associations on Jan 18, a public letter written by Dalia Blass, director at SEC's Division of Investment Management, stated that there are "significant investor protection issues that need to be examined before sponsors begin offering these funds to retail investors."
According to Blass, the agency is skeptical about valuation, liquidity, custody, arbitrage and potential manipulation. According to the letter, “the SEC needs to evaluate how a cryptocurrency-related ETF can be fairly priced given the volatility of cryptocurrency prices, and amid technological changes such as blockchain forks.”
Plus, liquidity is another issue that needs to be scrutinized, “in particular, how such innovative products can be redeemed by retail investors on a daily basis”, per coindesk.com.
The SEC’s skepticism about bitcoin is not new. The Winklevoss Bitcoin ETF, which targets physical bitcoin, not futures, was being reviewed by the SEC on appeal. The tussle between the U.S. Securities Exchange Commission and Winklevoss over the launch has been going on for about three years. In fact, the issuer has restructured the proposal for the Bitcoin ETF multiple times.
Four issuers removed their product filings on the request of the U.S. Securities and Exchange Commission this month. Direxion Shares ETF Trust indicated that the SEC “expressed concerns regarding the liquidity and valuation of the underlying instruments” that its proposed funds would invest in.
Not only these proposed funds, the SEC has halted trading in shares of UBI Blockchain Internet, a Hong Kong-based company, pointing at possibly inaccurate information in its disclosures to the regulator and unfamiliar market activity in the stock since November.
Why Such Stringency?
Many analysts are issuing warnings about a bitcoin bubble. Bitcoin halved last week from its record peak of almost $20,000 a month ago. Ethereum and Ripple, the other sought-after crypto currencies, toppled on reports that South Korea and China could put an embargo on cryptocurrency trading, stirring concerns of a wider regulatory crackdown. Notably, South Korea makes up about 20% of global bitcoin trading (read: Bitcoin: 'Red Tape', ETF Filings & Withdrawal Explained).
Reserve Bank of Australia sees it as "speculative mania" and finds bitcoin more popular in the illegal economy, not among consumers. Governor of the Reserve Bank of New Zealand sees it a "classic case" of a bubble.
Citi analysts predicted that bitcoin decline to a range between $5,605 and $5,673 "looks very likely to be very speedy.” Some fear that cryptocurrencies may be used to escape taxes, launder money or finance terrorism. This shows how volatile the crypto currency is (read: Bitcoin Bubble Burst? ETFs in Focus).
Any Bitcoin Investing ETF Alternatives Around?
Two Blockchain ETFs were launched recently,Reality Shares Nasdaq NexGen Economy ETFandAmplify Transformational Data Sharing ETF. Both funds look to track a portfolio of stocks from companies that are deemed to have strong exposure to blockchain technology development. But the issuers are not allowed to use the word “blockchain” in the name.
As per a source, “Blockchain, the renowned Bitcoin wallet provider, has partnered with SFOX to make it more convenient to buy and sell cryptocurrencies and digital assets.” So, if investors are not getting a bitcoin ETF now, they can definitely be in touch with the concept through blockchain ETFs.
The success of cryptocurrencies benefited semiconductor ETFs likeiShares PHLX Semiconductor ETFandVanEck Vectors Semiconductor ETF. This is because mining of cryptocurrencies needs the usage of semiconductors. A hardware known as an ASIC (Application-Specific Integrated Circuit) is designed explicitly for mining bitcoin.
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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 reportISHARS-PHLX SEM (SOXX): ETF Research ReportsVANECK-SEMICON (SMH): ETF Research ReportsTo read this article on Zacks.com click here. || Facebook News Feed Changes 2018: What It Means for You: Facebook Inc (NASDAQ: FB ) announced that the company is rolling out a number of News Feed changes in 2018. Facebook Source: Facebook The social media site is changing the social media experience for many by making it more about the people they love than ads. The company said you will now see more posts from friends and family members and less cooking videos, ads and other posts from brands. The changes were announced on Thursday by Facebook, bringing you more of what you love and making the site look less like a series of infomercials than it is at the moment. The company is making the changes by changing some of its algorithms. InvestorPlace - Stock Market News, Stock Advice & Trading Tips The posts that will not be as visible anymore are the ones from sites that post funny pictures, memes, sell you clothing or deliver articles about the world. A post on the Facebook blog released by Adam Mosseri, head of its News Feed team, said that more posts from friends and family “means we’ll show less public content, including videos and other posts from publishers or businesses.” Facebook admitted in December that the passive consumption of information such as looking at apparel being sold or too much news from around the world may be bad for your mood. “We will predict which posts you might want to interact with your friends about, and show these posts higher in feed,” Mosseri wrote. FB stock fell 3.6% on Friday. More From InvestorPlace The 5 Best Dow Jones Stocks to Buy for 2018 7 ETFs That Will Beat the Market in 2018 4 Bitcoin Alternatives That You Need for 2018 Compare Brokers The post Facebook News Feed Changes 2018: What It Means for You appeared first on InvestorPlace . || Bitcoin Price Analysis December 12, 2017, Technical Analysis: Bitcoin rallied significantlyduring the trading session on Monday, reaching towards the $16,500 level on the BITSTAMP exchange, and as a result it’s likely that the market should continue to try to break out to the upside, and as a result I think that we will eventually test the $17,000 level, and perhaps even go higher than that. Currently, it looks like the market is respecting the 20 SMA on the hourly chart, and because of this, I think that we will continue to see buyers look at pullbacks as buying opportunities. If we were to break down below the $15,000 level, that could lead to a rather significant bounce around and perhaps a longer-term buying opportunity. Ultimately, if we do breakout to the upside, then I think that the next obvious target will be the $18,000 level. Longer-term, I believe that the $20,000 level is probably going to be targeted as well.
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The volatility in this market should continue, as the futures markets have obviously attracted a lot of institutional money, and of course, has put the idea of Bitcoin in the crosshairs of the major media. In general, I think that we are going to continue to see a significant amount of volatility because of new money coming back into the marketplace. I think that once the markets stabilizing get used to the idea of a futures market that is regulated, that perhaps Bitcoin will act more like a currency. Because of this, I believe that we are getting close to the end of the massive run a higher and the overextension of buying pressure. This will be interesting, because then it becomes an institutional game, not a retail game.
We have seen a strong run-up during the day after the futures exchange open.com a but as I record this we are only up 10%, which all things being equal is not that impressive considering we’ve seen even bigger run-ups in this market without it. I think at the end of the day, we are starting to see Bitcoin run out of momentum, and eventually, we will see a massive pullback. Think of it this way: if you are institutional money that has been buying Bitcoin for some time, you can then hedge your position by shorting the futures contract. In other words, big money has taken over or is at least in the process of doing so. I suspect that if we don’t get a complete breakdown of the currency, which I don’t believe we are going to zero, this will eventually feel very much like the EUR/USD pair. In the meantime, it looks as if we are trying to go higher, and I think $20,000 will eventually be targeted, but the move to that level might be slower than many of you are expecting.
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Thisarticlewas originally posted on FX Empire
• S&P 500; US Indexes Fundamental Daily Forecast – Weak PPI Could Limit Number of Fed Rate Hikes in 2018
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• Natural Gas Price Fundamental Daily Forecast – Consolidating Ahead of Updated Weather Forecast || 3 Ways to Get Your Dream Job in 2018: Most dream jobs, provided your dreams are grounded in a touch of reality, can be attained.
For example, if you're a 44-year-old man who has never played baseball, then playing shortstop for the Boston Red Sox is out of reach no matter how much you apply the advice you'll read here. Working for the Red Sox in another meaningful capacity, though, is within reach if you make the right moves.
Nobody is going to hand you your dream job. If, however, you're willing to work your way to where you want to go, anything is possible. Here's what some of our Foolish investors had to say.
Getting the job of your dreams takes hard work, persistence, and planning. Image source: Getty Images.
Selena Maranjian:Before you start thinking about howtolandyourdreamjob, take some timetofigure out what thatdreamjobreally is. Don't just assume it's thejobone or two or three levels above where you aretoday, or that it's ajobyou're somewhat familiar with that pays a lot more than you maketoday.Instead, trytofind the best fit foryourself.
One step is taking a career aptitude test or two, as they might identify somejobs that you never thought of. They might also help you notice some traitsinyourself that make you particularly well or poorly suited for certainjobs -- traits such as preferringtowork alone or enjoying deadline-driven work or persuading people.
Next, jot down things that you enjoy doing, subjects that greatlyinterest you, and skills you're good at. Keeping thoseinmind, do some brainstorming and come up with a bunch ofdreamjobs. Think creatively, without assuming that any particularjobdoesn't exist. (You might be abletomake it exist, after all.) For example, if you're veryinterestedinnutrition and you love animals, you might love being a dietitian at a zoo. If you loveinvesting and writing, you might becomea writer for The Motley Fool.
Once you identify a truedreamjobor two, lookinto how you might land it. You might need a particular degree or certain experience ortomake connections with certain people. One edge that you'll have is a clear passion for thejob, which many applicants won't have.
Maurie Backman:While boosting your skills and putting together asolid resumeare a couple of good ways to land your dream job, often, it'sthe people you knowwho will umake or break your next big opportunity. If there's a specific job out there you're vying for, it pays to reach out to those people who are in a position to help you snag it. And that doesn't necessarily mean you need to know someone at the company you're applying to -- though it would certainly help. Rather, it's often the case that knowing someone who knows someone is enough to get your foot in the door.
If you're convinced you've found your dream job, then don't just apply. Rather, reach out to everyone in your network who might in some way improve your chances of getting hired.
You may come to find that someone you impressed at a business conference knows someone who knows the hiring manager, and all it takes is a glowing recommendation for you to score an interview. And if you haven't found your dream opportunity yet, keep searching, but also keep reaching out to those contacts and reminding them what it is you're looking for. This way, if an opening does arise, your name could be the first that comes to mind.
Daniel B. Kline:Just because a door slams in your face, that doesn't mean you should stop knocking. I've had a lot of so-calleddream jobsin my career. I ran a toy store, I served as editor of a top-25 website that created online games, and I worked atThe Boston Globe, the paper I got up early to read each day from pretty much the point I could read until I moved away from Massachusetts.
Once I became a professional writer/editor at age 20, working atThe Globewas never far out of my mind. I applied a lot of times for everything from reporter jobs to part-time overnight Web producer when that became a thing.
It wasn't until my career had taken a turn into business journalism that I got a response to one of my applications. I was brought in to interview for a position as senior business producer for Boston.com.
Once I got the interview, I kicked the door down. I prepared a detailed plan on what would happen in my first 100 days and showed exactly why my unique mix of experience qualified me for the job.
It took, I believe, four separate interviews and a lot of nail-biting, but I got the job. It didn't turn out to be quite the dream job I expected, but it did hone my writing to the point that I eventually found my way to my current dream job -- as a contract writer for The Motley Fool.
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The Motley Fool has adisclosure policy. || Here's Why Bitcoin Should Be Terrified of Ripple: For the better part of a year now, the cryptocurrency market has been a practically unstoppable force. When 2017 began, the aggregate value of every investable virtual currency combined was only $17.7 billion. However, as recently as the first week of January, this combined valuation had peaked at almost $836 billion. This 4,500%-plus increase in cryptocurrency market value over a span of 53 weeks is unlike anything investors have ever witnessed before.
Wondering what's behind this rapid ascent in cryptocurrency valuations? For starters, thank theemergence of blockchain technology. Blockchain is the underlying digital, distributed, and decentralized ledger that's responsible for keeping a record of all transactions.
Image source: Getty Images.
The excitement surrounding blockchain has to do with its potential to correct a number of perceived flaws with the current payment system, such as long waiting periods for funds to clear, as well as high transaction fees as a result of banks acting as middlemen. In particular, blockchain technology offers the potential for lower transaction fees since there is no bank involvement, quick processing times since transactions are being verified 24 hours a day, seven days a week, and increased security due to decentralization. Rather than storing this transaction data at a single hub, blocks of data that makes up the chain are scattered on servers and hard drives all over the world. This ensures that no single entity can gain control over a cryptocurrency, and that cybercriminals can't hold a digital currency hostage should they gain access to transaction data.
We can probably alsothank the market dynamics of cryptocurrency exchangesfor the continuation of this rally. You see, the cryptocurrency market isn't exactly "fair." By this I mean that investors have an opportunity to buy or sell, but there's essentially no way for them to make money if these digital currencies drop in value via short-selling, options, or futures contracts. With the exception of bitcoin (CCY: BTC-USD), which is now on both the futures platforms ofCME Group(NASDAQ: CME)andCBOE Global Markets(NASDAQ: CBOE), it's not possible for skeptics to put their money where their mouth is. That naturally tends to incentivize buying since downward moves aren't making anyone money.
And, of course, news-driven events have helped. Bitcoin (CCY: BTC-USD), the world's largest cryptocurrency by market cap, and the virtual currency most likely to be accepted by merchants, has benefited from its acceptance as legal tender in Japan, as well as its aforementioned futures listing with the CME Group and CBOE. Bitcoin (CCY: BTC-USD) is fully expected to be listed for futures trading with theNasdaqin the first half of this year, and may soon have a number of exchange-traded funds for investors to choose from. In short, we're seeing bitcoin grow as a validated asset class in some countries and settings.
Image source: Getty Images.
However, bitcoin's reign as the leading cryptocurrency may not last over the long run. Objects in bitcoin's rearview mirror have already been creeping closer, and one in particular absolutely mops the floor with bitcoin where it counts most. Let's have a look at why bitcoin should be terrified of Ripple (CCY: XRP-USD).
Over the aforementioned 53-week period between Jan. 1, 2017 and the first week of January 2018, Ripple (CCY: XRP-USD) rose by very close to 50,000%. The bulk of this increase is a result of blockchain partnerships that Ripple has struck with anumber of large financial institutions.
Though Ripple (CCY: XRP-USD) announced in June 2016 that seven global banks were testing its blockchain in pilot and small-scape projects, its XRP coin didn't take off until it announced a partnership withAmerican Express(NYSE: AXP)andBanco Santander(NYSE: SAN)in mid-November. This real-world test will allow American Express users to send noncard payments via AmEx's FX International Payment network to U.K. Santander accounts and process those transactions through Ripple's blockchain. Rather than having these payments potentially wait days for verification, Ripple suggests they'll settle instantly.
Image source: Getty Images.
But it's not a single partnership that should have bitcoin necessarily worried. It's a simple comparison of bitcoin's blockchain to Ripple's that should be cause for concern.
A block of transactions tends to be verified on the bitcoin blockchain about once every 10 minutes, allowing what works out to a maximum of seven transactions per second. On average, bitcoin transactions take a little over an hour to settle.
Scalability has always been an issue with the bitcoin community, namely because, as an open network, not everyone can agree on what path bitcoin's blockchain should take moving forward. The Segregated Witness (SegWit) upgrade could have helped improve capacity, lower transaction fees, and speed up transaction times, but it was never put into action due to insufficient support for such a move. Instead, bitcoin forked into a handful of new currencies.
By comparison, Ripple, by its own admission, has scaled to handle 1,500 transactions per second, which is over 200 times more than bitcoin's blockchain. Furthermore, these transactions settle in an average of four seconds, and they're considerably cheaper. The average Ripple transaction fee is a fraction of a cent, whereas bitcoin transaction fees can range to nearly $30. This is what bitcoin should be worried about.
However, there is something worth keeping in mind here. Bitcoin has proven its ability to scale over the years, while Ripple's claims are mostly unproven without a vast merchant network and just a handful of testing partners for its blockchain. In other words, it's unclear if Ripple can indeed expand its network and maintain these low transaction costs and quick settlement times once scaled.
Nevertheless, it's pretty clear why Ripple has quickly climbed the ranks, and it would becompletely plausible, based on this comparison, for Ripple to surpass bitcoin to become the most valuable cryptocurrency in the world at some point in the future. Of course, a lot will depend on whether the Ripple team can make good on its scalability promise once more financial institutions latch onto its blockchain technology.
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Sean Williamshas no position in any of the stocks mentioned. The Motley Fool recommends American Express, Cboe Global Markets, CME Group, and Nasdaq. The Motley Fool has adisclosure policy. || Here’s Why Your Bitcoin Investment Just Plummeted 14%: Bitcoin slumped as much as 14 percent as the world’s largest cryptocurrency continues to be whipsawed by concerns about regulation and demand from Asia. “The fuss about regulators tightening screws in South Korea is pushing the price of bitcoin,” said Naeem Aslam, chief market analyst at TF Global Markets in London. “This and the Chinese news is going to bring a blip in the price.” China plans to limit power use by some bitcoin miners, people familiar with the matter said last week, a potential challenge to an industry whose energy-intensive computer networks enable transactions in the cryptocurrency. The People’s Bank of China outlined the plan Jan. 3 at a closed-door meeting, according to the people, who asked not to be identified because it wasn’t public. They didn’t detail how authorities plan to enact the curbs. South Korea said last month that it will restrictively allow cryptocurrency trading on only qualified exchanges and review a possible capital gains tax on crypto trading as a way to restrain the nation’s frenzied speculation. “We need regulators to look into the space more closely, the Korean exchanges have become crazy in terms of price differences so these regulatory actions would help the price stability,” Aslam said. “As for the mining operations, China is making the process more difficult for miners, but opportunist have started to focus on Canada which is more regulatory friendly and cheap on the energy front.” || ETH/USD Forecast for the Week of December 18, 2017, Technical Analysis: Ethereumrallied significantly during the trading week, reaching almost as high as $800 on Coinbase. However, the exchange has had several problems over the week, closing down due to the inability to facilitate the trading volume. Because of this, the real value in Ethereum is going to be difficult to determine, as it appears the institutional money flooding into space is overwhelming the infrastructure. Eventually, this causes a major problem.
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In the meantime, it looks to me as if the market is trying to break above the $800 level, but it’s difficult to justify buying at these prices based upon the weekly chart. I think if you can look to shorter-term charts, perhaps a buy on the dips strategy will be the best way to play this market. I also believe that $400 will be a bit of a hard floor, so I would be very surprised if we managed to break below that level. Ultimately, this is a market that I think continues to be very noisy, offering a lot of trading opportunities for short-term traders, but difficult to hang on to the longer-term move based upon technical analysis. At this point, if you are buying Ethereum on a longer-term chart, you are simply basing your trade on faith of value more than anything else. It is almost impossible to do any technical analysis on moves like this other than to say we are far too overbought. However, that typically will give us an opportunity to pick up a value trade underneath, so perhaps if you are patient enough you may get the opportunity.
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Thisarticlewas originally posted on FX Empire
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• Silver Price forecast for the week of December 18, 2017, Technical Analysis || Better Buy: Intel Corporation vs. NVIDIA: Intel Corporation (NASDAQ: INTC) and NVIDIA (NASDAQ: NVDA) are two important chipmakers that are both taking their processor know-how and applying it to new and lucrative markets. NVIDIA makes graphics processors that it primarily sells for gaming, but over the past few years, the company has been able to use its GPUs for things like artificial intelligence (AI), data centers, and driverless cars. Intel, of course, has been a huge supplier of processors for computers; it is now transitioning its chips into some of the same opportunities as NVIDIA, like data centers and driverless cars. So let's take a quick look at what each company is doing right, and which looks like the better long-term buy. Computer motherboard with processor Image source: Getty Images. The case for Intel Intel has been transitioning away from its reliance on PC-chip sales and looking toward cloud computing for new opportunities -- and it's already starting to pay off. Cloud computing is expected to become a $411 billion market by 2020, and Intel is benefiting by supplying the processors that run data centers for cloud-computing services. Intel currently holds about 98% of the data center market and brought in 30% of its total sales from the segment in the most recent quarter. But Intel is also building itself into a key player in the driverless-car space, especially with its purchase of Mobileye last year . Mobileye makes the technologies for Advanced Driver Assistance Systems (ADAS), like automatic braking, and has about 70% of that market right now. That's important for Intel's driverless car ambitions because ADAS are part of the broader autonomous-vehicle technologies. Intel and Mobileye recently teamed up with Aptiv (which makes software and hardware for driverless cars) to release an off-the-shelf autonomous-vehicle platform next year. Additionally, Intel is also the main chip supplier for Alphabet 's (NASDAQ: GOOG) (NASDAQ: GOOGL) driverless-car company, Waymo. Intel and Waymo announced their partnerships last year, and the news gave Intel a lot of credibility as a chip supplier for driverless cars. The fact that Intel's processors can handle Waymo's advanced autonomous-driving systems means that other automakers and tech companies are likely to look to Intel for their future driverless-car needs. Story continues Intel's shares are up about 17% over the past 12 months, and the company's stock currently trades at about 13 times its forward earnings, which is far below the tech-sector average. The chipmaker still faces a long road ahead as it builds out its driverless-car opportunity, but its current moves in data centers and driverless cars are putting the company in a great position to grow. The case for NVIDIA Like Intel, NVIDIA is finding new ways to breathe life into its processors. The key difference is that while Intel's PC chip business is fading, NVIDIA's key sales segment is still booming. The company makes about 59% of its top line from sales of its graphics processors for PC gaming, and in the third quarter of fiscal 2018, its gaming revenue jumped 25% year over year. The strength of its core business has not only allowed NVIDIA to outperform its competitors in the gaming space but has also given it a strong foundation to launch into new segments. One of its most promising opportunities is in artificial intelligence. NVIDIA's graphics processors are great at taking visual information from cameras and helping computers understand what they're looking at, and that's encouraging companies to use NVIDIA's chips for AI data centers and driverless cars . NVIDIA is already on the third iteration of its own driverless-car computing platform, called Pegasus, and has already forged multiple partnerships with automotive manufacturers to use its technology in future versions of semiautonomous vehicles. In the data center space, Alphabet, Facebook , and Amazon tap NVIDIA's graphics processors to help them offer cloud-based AI services to their customers. In fact, NVIDIA's management believes its total addressable market in AI, including autonomous vehicles and data centers, will be about $40 billion between now and 2035. NVIDIA's shares currently trade at about 47 times the company's forward earnings, which is a hefty premium, and its stock has gained more than 100% over the past 12 months. But NVIDIA is just getting started in burgeoning AI and driverless-car markets, so there's likely still a lot of room for this company to grow. The verdict This matchup is difficult because I'm encouraged by Intel's latest moves, but the company is still in the middle of transitioning to new opportunities, and things could go sideways as it makes the jump from PCs to driverless cars. Meanwhile, NVIDIA's core business is humming along, and it's successfully building out its AI, data center, and driverless-car offerings -- but investors have pushed its share price up so much that its shares are now looking pretty expensive compared to expected earnings. Having said that, I still think NVIDIA's business looks stronger overall. The company far outpaces its competitors in the gaming-processor space, and NVIDIA's management has proved it knows how to take the company's chips and apply them to entirely new markets. For that reason, I think NVIDIA is the better buy right now. 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 $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Chris Neiger has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), AMZN, FB, and Nvidia. The Motley Fool recommends Intel. The Motley Fool has a disclosure policy .
[Random Sample of Social Media Buzz (last 60 days)]
こんばんは。 bitcoin priceという || bitcoin priceってゆうか、 || bitcoin priceってゆうか、 || Saat: 05:00 Bitcoin Kuru
#Bitcoin =11564.6$
#ETH = 1049.24$
#XRP = 1.64853$
#BCH = 1848.21$
#ADA = 0.661092$
#LTC = 194.658$
#TRX = 0.0821041$
#IOTA = 2.80299$
#Dash = 841.891$
#BitcoineNelerOluyor #kriptopara #binance #coinmarket #bitcoinnews #bitcointrading #blockchain || BTC Real Time Price: $10500.00 #GDAX;
$10552.60 #bitstamp;
$10522.41 #gemini;
$10495.98 #hitbtc;
$10598.00 #kraken;
$11013.36 #cex; || Tiffany Haddishちゃんが || Tiffany Haddishちゃんが || Current price of Bitcoin is $15745.00. || Bitcoin - BTC
Price: $19,649.90
Change in 1h: +0.37%
Market cap: $329,072,198,624.00
Ranking: 1
#Bitcoin #BTC || i'll retweet this but you weren't alive in 1987... now buy me a bitcoin
|
Trend: down || Prices: 11786.30, 11296.40, 10106.30, 10221.10, 9170.54, 8830.75, 9174.91, 8277.01, 6955.27, 7754.00
|
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 2015-10-29]
BTC Price: 313.86, BTC RSI: 86.29
Gold Price: 1147.20, Gold RSI: 45.90
Oil Price: 46.06, Oil RSI: 51.32
[Random Sample of News (last 60 days)]
10 things in tech you need to know today: Apple CEO Tim Cook at WWDC 2015 (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 his Chinese counterpart Xi Jinping next month about cyber espionage. 4. Minecraft founder Markus Persson went 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. Story continues 10. Wall Street is paying attention to Bitcoin. The New York Times reports that executives from more than 12 large banks gathered earlier this year to confidentially discuss how the technology behind Bitcoin could be used to change foreign currency trading. NOW WATCH: 2 texting tricks you didn't know you could do on your iPhone More From Business Insider Google is showing developers how to turn off iOS 9's security features so it can load ads '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 || Bitcoin flounders in Australia as regulatory worries bite: By Byron Kaye and Swati Pandey SYDNEY (Reuters) - Australian businesses are turning their backs on bitcoin, as signs grow that the cryptocurrency's mainstream appeal is fading. Concerns about bitcoin's potential crime links mean many businesses have stopped accepting it, a trend accelerated by Australian banks' move last month to close the accounts of 13 of the country's 17 bitcoin exchanges. The development is a blow to hopes of bitcoin fans that the currency can play a significant role in everyday business transactions in developed economies, with Australia once seen as one of its most promising markets. It is estimated to hold 7 percent of the currency's $3.5 billion global value, a sizeable figure in a country of just 24 million people. "We've got a squeaky clean reputation, and that's actually worth a lot more to us than dipping into this," said James Snodgrass, principal of Sydney's Forsyth Real Estate, which ditched the currency in late 2014 after the firm was investigated by the federal tax office. Forsyth had offered to collect home deposits and other realtor fees via bitcoin to cater to international buyers. The tax office probe found no wrongdoing but Forsyth was burned by the negative publicity and bailed out before ever taking a bitcoin payment. Although most mainstream banks in Europe and the U.S. already refuse to keep bitcoin-affiliated accounts, developments in Australia represent the first coordinated shutdown of bitcoin exchanges by a country's banking system. The move makes it much harder for people to convert regular currencies in to or out of bitcoin, threatening its long-term value. "It really runs on people using bitcoin, and if nobody uses it then it's worthless," said University of Technology Sydney senior finance lecturer Adrian Lee. BANK SHUTDOWN The banks' shutdown appears at odds with a government inquiry which in August recommended removing sales tax for people who buy bitcoin. The Australian anti-money laundering agency, AUSTRAC, told Reuters that banks have no legal obligation to close bitcoin accounts. The so-called "Big Four" banks - Commonwealth Bank of Australia, Westpac Banking Corp, Australia and New Zealand Banking Group and National Australia Bank - directed inquiries about bitcoin to the Australian Bankers' Association. Tony Pearson, the association's acting chief executive, wouldn't confirm the coordinated rejection of bitcoin but said in an email that its "lack of transparency and regulatory oversight raises a number of risks for users and also poses risks for the payments system, the integrity of the financial system and the erosion of the tax base". Story continues Australia's organized crime agency has said it is concerned the currency's untraceable nature makes it attractive for money laundering and selling illicit drugs. In the U.K. and the U.S., most large banks have already cut ties with bitcoin account holders, but lack of industry co-ordination has left room for individual lenders to support the currency, including Germany's Fidor Bank AG, which operates in Britain, and tech-focused Californian lender Silicon Valley Bank. CLOSE, MOVE OFFSHORE OR SNEAK AROUND The 13 Australian bitcoin exchanges whose accounts were closed by the banks have shut operations. The remaining four have had their accounts frozen, and now face three options: close, move overseas or spread their business into several smaller bank accounts to avoid detection by their banks. Buyabitcoin.com.au, one of the remaining four exchanges, said it is still considering its options. "It makes it, obviously, hard to take payments from our customers, but we have a couple of relationships left," said Andrew Smith, general manager of the Melbourne-based exchange. Smith declined to identify which bank his firm is now using from fear of repercussions but said he plans to move the business offshore. Two sources told Reuters that regional lender Bank of Queensland still held some bitcoin accounts. The bank said in an email that "virtual currencies fall outside of our risk appetite" but did not deny or confirm it had these accounts. RETAIL PULLOUT Some industry watchers believe ambivalence may be bitcoin's biggest problem. At least six Australian retail businesses, which as recently as 2014 courted publicity for offering sales by bitcoin, told Reuters they were considering exiting the currency. "If governments begin to aggressively attack the whole idea of cryptocurrencies and give it a bad name, it might have an adverse effect on our brand by accepting it," said David Brim, co-founder of off-road vehicle maker Tomcar Australia, which has sold one car using bitcoin since introducing it in November 2014. Grant Fairweather, owner of the Metropolitan Hotel in Sydney, said he started accepting bitcoin when a group of digital currency fans chose his pub as their regular meeting venue. "They tell me that it's doing quite well, but that doesn't transpose into here," said Fairweather, who sells about A$100 ($70) worth of drinks via bitcoin from the meetings and does no other bitcoin trade. An online clothing retailer told Reuters she had made no bitcoin sales since introducing the service in 2013 and asked not to be named, saying "since bitcoin's going out anyway, we'd rather not throw our name back into it". (Additional reporting by Nathan Lynch in SYDNEY and Jemima Kelly in LONDON. Editing by Jane Wardell and Rachel Armstrong) View comments || Buy Some Bitcoin With This ETF: It has been more than two years since Cameron and Tyler Winklevoss filed plans for an exchange traded fund backed by holdings of bitcoin. That ETF has yet to come to market, but a previously existing ETF has added bitcoin to its holdings.
ARK Investment Management LLC, the New York-based issuer of four actively managed ETFs, said Tuesday investors can now access bitcoin through theARK Web x.0 ETF(NYSE:ARKW). That makes ARKW the first ETF to invest in bitcoin.
“ARK has made its investment for ARK Web x.0 ETF through the purchase of publicly traded shares of Grayscale’s Bitcoin Investment Trust (OTCQX: GBTC),”according to a statementissued by ARK Investment Management.
Related Link:Did Barclays Start The Bitcoin Bull Run?
ARKW, which celebrates its first anniversary at the end of this month, is managed by ARK founder and Chief Investment Officer Cathie Wood. The ETF can hold 40 to 50 companies that are legitimately wear the “disruptive” and “game-changing” labels. ARKW currently holds 40 stocks, includingAmazon.com, Inc.(NASDAQ:AMZN),Netflix, Inc.(NASDAQ:NFLX),Facebook Inc(NASDAQ:FB) andApple Inc.(NASDAQ:AAPL), according toissuer data.
“ARK believes that bitcoin, a digital currency, could disrupt the $500 billion intermediary payment platform industry which includes credit cards, electronic payments and remittances, and might empower the creation of a new group of companies and industries,” said ARK in the statement.
Bitcoin burstonto the scenein 2007 and today is the most recognizable of the digital or cryptocurrencies. Unlike traditional currencies, such as dollars, pounds or yen, bitcoin is not created by a central bank, but is created by people.
ARK’s investment in publicly traded shares of the Bitcoin Investment Trust will be valued each day at 4:00 p.m. ET at their then current daily market price, according to the statement. The Bitcoin Investment Trust is ARKW's smallest holding at just under a third of the ETF's weight, according to issuer data.
One bitcoin is currently equivalent to just over $231, according to Coinbase data, indicating that the value of the digital currency has been cut in half over the past 12 months. However, Coinbase data also indicate the number of daily transactions involving bitcoin has also more than doubled over that period.
ARKW charges 0.95 percent per year, or $95 per $10,000 invested.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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 More NY 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. More From CNBC Top News and Analysis Latest News Video Personal Finance || AXA Interested In Bitcoin's Potential: Paris-based investment banking firm AXA may begin using bitcoin in order to streamline the remittance market.
The firm is not the first to see the potential benefits of using cryptocurrencies to send payments around the world, butcommentsfrom AXA Strategic Ventures (the bank's $223 million fund) suggest that it could become the first major financial institution to back bitcoin's entry into the remittance market.
Worldwide Payments
One of the major benefits that cryptocurrency enthusiasts have been quick to point out is the potential that digital currencies have for sending cross border payments. This is especially true when it comes to sending money to countries with an underdeveloped financial sector where much of the population is unbanked. In such regions, the only existing options are money-transfer services likeThe Western Union Company(NYSE:WU), which charge a large fee. Sending bitcoin payments would carry a much lesser fee and could provide a new option to expats working abroad and sending money to their families at home.
Related Link:Did Barclays Start The Bitcoin Bull Run?
AXA In Talks
AXA's Minh Q Tran said the company would like to further explore how bitcoin would function in the remittance market and that the firm is currently in talks with bitcoin-based remittance firms that are hoping to break into the industry. So far, AXA has yet to fund any cryptocurrency-related startups, but many expect that will come in the future.
Other Uses
Much likeBarclays(NYSE:BCS) and Citibank, AXA is also interested in exploring bitcoin's potential in other capacities within the financial space.
Blockchain, the ledger-like technology that bitcoin runs on, has been touted as a viable way to facilitate many different transactions, something that several banks are looking into. AXA has said it is interested to learn how blockchain might improve transactions in real estate, intellectual property and insurance.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. 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 to www.minerscenter.com reveals 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 || 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. || Buying the dip? Consider these 5 stocks: Amid increased market volatility, investors looking for value should keep their eyes on five stocks trading at a discount, CNBC's "Fast Money" pros said.
Microsoft(NASDAQ: MSFT)has traded between $40 and $50 a share over the last year. "I think you probably buy it at $40 and sell it at $50," Dan Nathan said.
"There's been a premium built in to Microsoft over the last year since Nadella took over," he said. Nathan noted that there's a lot to be optimistic about, but urged investors to be mindful that it is tied to the turbulent PC market.
Tim Seymour said he sees upside potential in the aerospace products manufacture United Technologies(NYSE: UTX). "Granted China could get worse... but I think these guys are turning the ship after what was a selloff that was even kind of pre-China," he said.
But if you really want to know when the China-driven selloff is over, keep an eye on Apple(NASDAQ: AAPL).
Once investors start pilling in on Apple, it means they "fundamentally believe that maybe iPhones are going to surprise," to the upside because everyone has factored in that China, where the iPhone gets most of its profit from, is really hitting a wall, Steve Grasso said.
"Maybe they will surprise us. Maybe it's not the watch, maybe it's Apple T.V. as people are suspecting. ... But if the story has fundamentally changed than you just gotta sell Apple and I don't think we're there yet," he added.
Brian Kelly is betting on Goldman Sachs(NYSE: GS)to weather the current market storm because "they are gonna be the ones to benefit from this market volatility. "On this list, Goldman Sachs is the way to do it, at least, for the next couple of months," he said.
Cisco(NASDAQ: CSCO)is a Dow stock that you buy at a discount, while it's near 52-week lows, Brian Kelly said.
"Here is a Dow stock that trades at 10.5 times next year's expected earnings [with a] 3.25 percent dividend yield [and] half that market cap is in cash here," Kelly said, citing the company's recent management changes as additional tailwinds.
Disclosures:
Tim Seymour
Tim Seymour is long AAPL, T, BAC, DIS, F, GE, GM, GOOGL, INTC, JPM, TWTR, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO.
Dan Nathan
Dan is long QQQ Oct put spread, XBI sept put spread, TWTR, PG.
Brian Kelly
Brian Kelly is long BBRY, TWTR calls, Bitcoin, U.S. Dollar; he is short British Pound, Euro, Ruble, Yen, Yuan, US Treasurys.
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 BP, COP, CVX, FCX, OXY, RIG, AMZN, MAT His kids own EFA, EFG, EWJ, IJR, SPY.
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• Personal Finance || Betting On More Than The Game During Football Season: On Thursday, the New England Patriots will host the Pittsburgh Steelers for the 2015 NFL Kickoff Game. The game marks the beginning of the National Football League's regular season and despite several high-profile scandals, the league's sponsors are ready and willing to shell out millions to be a part of the 2015-2016 season.
Sponsorship Up
This year the league expectssponsorship revenueto rise to over $1.3 billion; around a 15 percent increase. That figure is supported by the NFL's largest sponsorsVerizon Communications Inc.(NYSE:VZ), which spends around $250 million,PepsiCo(NYSE:PEP) which shells out $200 million, andAnheuser-Busch InBev(NYSE:BUD) andMicrosoft Corporation(NASDAQ:MSFT) which spend around $100 million each to be a part of the season.
Who To Watch?
While big investments mean more exposure to the masses of U.S. football fans, there are several other companies with their fingers in the football jar who stand to benefit.Under Armour Inc(NYSE:UA) is expected to see a boost this year after the company expanded its sponsorship deal with the NFL to provide cleats and gloves on game days. Athletic apparel giantNike Inc(NYSE:NKE) will also benefit from this year's football season as the company hassigned onto be the league's official jersey provider through 2019.
Related Link:NFL, CBS Cater To Viewers Who Are Cutting The Cord
As far as telecoms go, the NFL is likely to bring in big bucks for bothWalt Disney Co(NYSE:DIS) andCBS Corporation(NYSE:CBS). Disney owns ESPN, a premium channel that sports fans around the US subscribe to. Despite a shift toward online streaming, many analysts believe that the channel will be able to continue attracting customers with favorite programs like "Monday Night Football" and new offerings that bridge the gap between online streaming and traditional cable
CBS is also a big winner when it comes to football as the company holds the broadcasting rights for Super Bowl 50 in February. Earlier this year, the company saidadvertisers are willingto pay up to $5 million for a coveted 30-second spot during the big game, a major revenue booster for the telecom.
NFL Struggles To Renew Its Image
However, some investors are cautious ahead of this year's football season as the NFL has been the center of several controversies over the past few months. A survey by YouGov BrandIndex showed that the NFL's brand appeal fell to just 7 from a score of 17 last year. Much of that decline can be associated with accusations of unfair practices between top teams and negative press following players' personal problems.
While the league hasn't shown any signs of slowing down in the wake of several controversial scandals, some believe that big brands associated with the NFL could suffer if the organization doesn't start to crack down on poor behavior.
Image credit: Larry Maurer, Wikimedia
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Wall Street is trying to tap into the 'enormous' potential of the technology behind bitcoin: chain1 (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 a framework 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 a distributed 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 w orking 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. Story continues 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. Blythe Masters (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. NOW WATCH: We got our hands on Donald Trump's failed 1989 board game and it's bizarre More From Business Insider Bitcoin startups are luring quant whizzes from Wall Street The Money Of The Future Will Look More Like Bitcoin Than The Paper We Carry Around Today Barclays has two blockchain 'labs' in London and is planning 45 experiments with the technology
[Random Sample of Social Media Buzz (last 60 days)]
Current price: 218.92€ $BTCEUR $btc #bitcoin 2015-10-07 22:00:07 CEST || 1 #bitcoin 711.42 TL, 239.5 $, 210.670 €, GBP, 15671.31 RUR, 29038 ¥, CNH, 316.00 CAD #btc || Current price: 224.32€ $BTCEUR $btc #bitcoin 2015-10-15 08:00:04 CEST || EUR €:
BTC_e:220.00 Hitbtc:232.00 Kraken:219.67 ANX:216.87 Bitcoin_de:219.97 ItBit:219.55 Local:221.60 Bitcurex:217.00 TheRock:219.43 || BTC Flame Go 7″ Android Lollipop 5.0 Now Only £39.00 http://bit.ly/1j3D6FL #Affordable #Tablets #Yorkshirepic.twitter.com/HDdlUDGBst || 1 #bitcoin = $4098.00 MXN | $241.32001696 USD #BitAPeso | 1 USD = 16.9816MXN http://www.bitapeso.com || Current price: 201.03€ $BTCEUR $btc #bitcoin 2015-09-16 22:00:04 CEST || Current price: 159.27£ $BTCGBP $btc #bitcoin 2015-09-08 18:00:03 BST || Current price: 255.99$ $BTCUSD $btc #bitcoin 2015-10-15 11:00:06 EDT || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000003
Bittrex: 0.00000004
Average $9.0E-6 per #reddcoin
00:00:01
|
Trend: up || Prices: 328.02, 314.17, 325.43, 361.19, 403.42, 411.56, 386.35, 374.47, 386.48, 373.37
|
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 2022-06-13]
BTC Price: 22487.39, BTC RSI: 24.15
Gold Price: 1828.00, Gold RSI: 42.40
Oil Price: 120.93, Oil RSI: 65.18
[Random Sample of News (last 60 days)]
The Euro Has Tested Support Yet Again: Euro vs US Dollar Technical Analysis The Euro has gone back and forth during the course of the trading session on Monday to show signs of hesitation near the 1.08 level. The 1.08 level has been an area of contention multiple times. That being said, the market is going to pay close attention to this area as it has been a major place of argument. If we were to break down below the 1.08 level, it is possible that we could go looking to reach the 1.06 level underneath. If we bounce from here, the 1.0933 level could be significant short-term resistance, so if we were to turn around a break above there then we will more than likely challenge the 50 Day EMA. If we break above there, then it is possible that the market could go looking to reach the 1.12 handle. The 1.12 handle is where I would believe the trend has changed. That being said, any rally at this point in time will more than likely show signs of exhaustion that we can jump all over, as it would simply be a continuation of the longer-term downtrend. Quite frankly, with the ECB being basically stuck with high inflation but slow growth, it is difficult to imagine a situation where the ECB can be as aggressive as the Federal Reserve. Because of this, the market is one that I think if you take a little bit of time on the trade, you get nice shorting opportunities time and time again. Because of this, I may have to shift to a shorter time frame to place trades. EUR/USD Price Forecast Video 19.04.22 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: Top 5 Cryptocurrencies to Watch This Week: BTC, ETH, LINK, BCH, XMR Crude Oil Markets Run Out of Momentum The British Pound Continues to See Support at the Same Level Gold Prices Rise Despite a Stronger Greenback Natural Gas Markets Continue to Defy Gravity Hyundai To Become the First Automaker To Enter the NFT Market || Riot Blockchain Reports Record First Quarter 2022 Financial Results, Current Operational and Financial Highlights: Riot Blockchain Inc. Riot Reports a Record $79.8 Million in Total Revenue and 1,405 BTC Produced in Q1 2022 CASTLE ROCK, Colo., May 10, 2022 (GLOBE NEWSWIRE) -- Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot,” “Riot Blockchain” or “the Company”) , an industry leader in Bitcoin (“BTC”) mining and hosting, reported financial results for the three-month period ended March 31, 2022. The unaudited financial statements are available on Riot’s website and here . “We are extremely proud of the progress that Riot continues to make, having achieved record levels of net income, revenue, hash rate and Bitcoin mined in the first quarter,” said Jason Les, CEO of Riot. “Our vertically integrated business strategy of owning, operating and manufacturing has accelerated our growth while helping insulate us from continuing global supply chain issues. Over the remainder of 2022 and beyond, Riot plans to build upon the solid foundation set to date. We look forward to demonstrating continued operational excellence, execution in increasing our hash rate, and leading our industry in increasing the Company’s developed capacity.” First Quarter 2022 and Recent Financial Highlights Riot continues to attain significant milestones while positioning itself for future opportunities, driven by its focus on Bitcoin mining. Increased total revenue by 244% to a record $79.8 million for the three-month period ended March 31, 2022, as compared to $23.2 million for the same three-month period in 2021. Increased mining revenue by 150% to a record $57.9 million for the three-month period ended March 31, 2022, as compared to $23.2 million for the same three-month period in 2021. Produced record net income of $35.6 million for the three-month period ended March 31, 2022, as compared to net income of $7.5 million for the same three-month period in 2021. Mining revenue margin remained consistent at approximately 67% of mining revenues on a year-over-year basis, despite a 12% lower price of BTC in Q1 2022 of $41,241 as compared to $46,729 for the same period in 2021, demonstrating the Company’s increasing operating efficiencies in its mining segment. Mining revenue margin is computed as Bitcoin mining revenue net of cost of revenues of Bitcoin mining (exclusive of depreciation and amortization). Increased BTC production quantity by 186% to a record 1,405 BTC during the three-month period ended March 31, 2022, as compared to 491 BTC during the same three-month period in 2021. Increased BTC production quantity by 4% on a sequential quarter-over-quarter basis, with 1,405 BTC mined in the first quarter of 2022, as compared to 1,354 BTC mined in the fourth quarter of 2021. Increase in BTC production is attributable to Riot’s self-mining hash rate increasing at a rate faster than the global network hash rate, which drives Bitcoin’s mining difficulty index. Reported $11.7 million in Non-GAAP Adjusted EBITDA for the three-month period ended March 31, 2022, as compared to $11.1 in Non-GAAP Adjusted EBITDA for the same three-month period in 2021. A significant percentage of the current assets as of March 31, 2022, totaling $439.7 million, are highly liquid. As at quarter end, the cash balance of the Company stood at $113.6 million and as of April 30, 2022, the Company’s unaudited BTC quantity was 6,320 BTC, all of which were produced by its self-mining operations. Story continues First Quarter 2022 Financial Results Mining revenue margin was $38.9 million (67% of mining revenue), which compares to $15.6 million (68% of mining revenue) for the same three-month period in 2021. Mining revenue margin remained consistent on a year-over-year basis despite a 12% lower price of Bitcoin during the first quarter of 2022 compared to the first quarter of 2021. Despite the decrease in the price of BTC, the consistent mining revenue margin was primarily due to operating efficiencies driven by a greater number of new generation miners currently being deployed at Riot’s Whinstone US, Inc., (“Whinstone”) facility, net of increases in the difficulty index associated with solving BTC mining algorithms. Selling, general, and administrative ("SG&A") expenses increased by $5.4 million to $10.9 million, as compared to $5.5 million for the same three-month period in 2021. $4.4 million of the year-over-year increase was due to increased stock-based compensation and personnel as a result of the Company’s rapid growth. Taking into account the year-over-year $23.3 million increase in quarterly mining revenue margin relative to the year-over-year $5.4 million increase in SG&A expenses, the Company continues to demonstrate positive operating leverage and the benefits of its growing economies of scale. Net income for the quarter ended March 31, 2022, was $35.6 million, or $0.30 per share, as compared to net income of $7.5 million, or $0.09 per share, in the same three-month period in 2021. Net income for the quarter was positively impacted by an increase in fair value of derivative asset of $46.2 million and a $9.2 million gain on sale of Bitcoin, partially off-set by a $26.4 impairment of held Bitcoin and an unrealized loss of $1.6 million on marketable equity securities. Non-GAAP Adjusted EBITDA for the quarter ended March 31, 2022 was $11.7 million, as compared to Non-GAAP Adjusted EBITDA of $11.1 million for the same three-month period in 2021. $26.4 million in impairment of Bitcoin negatively impacted net income for the quarter, which impacted Non-GAAP Adjusted EBITDA. During Q1 2022 the Company determined to exclude impairments and gains or losses on sales or exchanges of cryptocurrencies from its calculation of Non-GAAP Adjusted EBITDA. First Quarter 2022 and Recent Operational Highlights During the three-month period ended March 31, 2022, increased deployed hash rate capacity by 39%, from 3.1 EH/s to 4.3 EH/s. Subsequent to March 31, 2022, deployed approximately 3,456 S19J Pro Antminers at Whinstone and increased hash rate capacity to 4.7 EH/s as of April 30, 2022. As of April 30, 2022, the Company had 46,375 miners deployed with an additional 7,240 miners staged for deployment. Shipments of 1,702 S19j Pros have been initiated out of Bitmain and are expected to be received during May 2022. Upon deployment of the staged miners and those from the May 2022 delivery, the Company expects to have a total of 55,317 miners deployed with a hash rate capacity of approximately 5.6 EH/s. Made substantial progress on the Company’s 400 megawatt (“MW”) expansion at Whinstone, with four buildings totaling approximately 240,000 square feet nearing the end of the construction phase. The new buildings and their critical infrastructure are expected to be completed Q2 2022, with the final components of the buildout being completed in parallel with miner shipments. Made substantial progress on Buildings F and G, both employing the Company’s state-of-the-art immersion-cooling technology, with an increasing number of miners being deployed and operational in Building F and electrical installation ongoing in Building G, which upon completion are expected to host approximately 46,000 S19 Antminers from Riot’s already-purchased miner fleet. Announced the initiation of a 265 acre, 1 gigawatt (“GW”) expansion in Navarro County, Texas. The first phase of the expansion consists of 400 MW of immersion-cooled Bitcoin mining infrastructure. Construction is expected to begin in Q2 2022, and Bitcoin mining operations are the new facility are expected to commence July 2023. Hash Rate Growth By January 2023, Riot anticipates a total self-mining hash rate capacity of approximately 12.8 EH/s, assuming full deployment of approximately 120,150 Antminer ASICs, but excluding any potential expected incremental productivity gains from the Company’s utilization of 200 MW of immersion-cooling infrastructure. Approximately 97% of the Company’s self-mining fleet will consist of the latest generation S19 series miner model. Upon full deployment of all currently contracted miners, the Company’s total self-mining fleet will consume approximately 370 MW of energy. In addition to the Company’s self-mining operations, Riot hosts approximately 200 MW of institutional Bitcoin mining clients. About Riot Blockchain, Inc. Riot Blockchain (NASDAQ: RIOT) focuses on mining Bitcoin, and through Whinstone, its subsidiary, hosting Bitcoin mining equipment for institutional clients. The Company is expanding and upgrading its mining operations through industrial-scale infrastructure development and latest-generation miner procurement. Through Riot’s subsidiary ESS Metron, the Company engineers and manufacturers electrical equipment solutions for Bitcoin mining and other industries. The Company’s headquarters is in Castle Rock, Colorado, the Whinstone Facility operates in Rockdale, Texas and the Expansion is in Corsicana, Texas. Riot also has mining equipment operating in upstate New York under a co-location hosting agreement with Coinmint, LLC. For more information, visit www.RiotBlockchain.com . Safe Harbor Statements in this press release that are not historical facts are forward-looking statements that reflect management’s current expectations, assumptions, and estimates of future performance and economic conditions. Such statements are made in reliance on the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as “anticipates,” “believes,” “plans,” “expects,” “intends,” “will,” “potential,” “hope,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements may include, but are not limited to, statements about the benefits of acquisitions, including financial and operating results, and the Company’s plans, objectives, expectations, and intentions. Among the risks and uncertainties that could cause actual results to differ from those expressed in forward-looking statements include, but are not limited to: unaudited estimates of Bitcoin production; our future hash rate growth (EH/s); the anticipated benefits, construction schedule and costs associated with the Navarro site expansion; our expected schedule of new miner deliveries; our ability to successfully deploy new miners; M.W. capacity under development; we may not be able to realize the anticipated benefits from immersion-cooling; the integration of acquired businesses may not be successful, or such integration may take longer or be more difficult, time-consuming or costly to accomplish than anticipated; failure to otherwise realize anticipated efficiencies and strategic and financial benefits from our acquisitions; and the impact of COVID-19 on us, our customers, or on our suppliers in connection with our estimated timelines. Detailed information regarding other factors that may cause actual results to differ materially from those expressed or implied by statements in this press release may be found in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, as amended, and our other filings with the SEC, copies of which may be obtained from the SEC’s website at www.sec.gov. All forward-looking statements included in this press release are made only as of the date of this press release, and the Company disclaims any intention or obligation to update or revise any forward-looking statements to reflect events or circumstances that subsequently occur, or of which the Company hereafter becomes aware, except as required by law. Persons reading this press release are cautioned not to rely on forward-looking statements. All forward-looking statements included in this press release are made only as of the date of this press release, and the Company disclaims any intention or obligation to update or revise any forward-looking statements to reflect events or circumstances that subsequently occur, or of which the Company hereafter becomes aware, except as required by law. Persons reading this press release are cautioned not to rely on forward-looking statements. For further information, please contact: Investor Contact: Phil McPherson IR@RiotBlockchain.com 303-794-2000 ext. 110 Media Contact: Trystine Payfer 303-794-2000 ext. 118 PR@RiotBlockchain.com SOURCE: Riot Blockchain, Inc. Non-U.S. GAAP Measures of Financial Performance In addition to consolidated U.S. GAAP financial measures, Riot reviews the non-GAAP financial measure, “Adjusted EBITDA.” Adjusted EBITDA is a financial measure defined as our EBITDA, adjusted to eliminate the effects of certain non-cash and / or non-recurring items, that do not reflect our ongoing strategic business operations. EBITDA is computed as net income before interest, taxes, depreciation, and amortization. Adjusted EBITDA is EBITDA further adjusted, for certain income and expenses, management believes results in a performance measurement that represents a key indicator of the Company’s core business operations of Bitcoin mining. The adjustments include fair value adjustments such as derivative power contract adjustments, equity securities value changes, and non-cash stock-based compensation expense, in addition to financing and legacy business income and expense items. During Q1 – 2022 we determined to exclude impairments and gains or losses on sales or exchanges of cryptocurrencies from our calculation of Non-GAAP Adjusted EBITDA for all periods presented. We believe Adjusted EBITDA can be an important financial measure because it allows management, investors, and our board of directors to evaluate and compare our operating results, including our return on capital and operating efficiencies, from period-to-period by making such adjustments. Adjusted EBITDA is provided in addition to, and should not be considered to be a substitute for, or superior to, the comparable measure under U.S. GAAP. Further, Adjusted EBITDA should not be considered as alternatives to revenue growth, net income, diluted earnings per share or any other performance measure derived in accordance with U.S. GAAP, or as alternatives to cash flow from operating activities as a measure of our liquidity. Adjusted EBITDA has limitations as analytical tools, and you should not consider such measures either in isolation or as substitutes for analyzing Riot’s results as reported under U.S. GAAP. Reconciliations of Adjusted EBITDA to the most comparable U.S. GAAP financial metric for historical periods are presented in the table below. Riot Blockchain, Inc. and Subsidiaries Reconciliation of GAAP and Non-GAAP Financial Information (Unaudited; in thousands) Three Months Ended March 31, 2022 2021 Net income (loss) $ 35,629 $ 7,530 Interest (income) expense 220 (175 ) Income tax expense (benefit) 312 - Depreciation and amortization 14,245 2,846 EBITDA $ 50,406 $ 10,201 Non-cash/non-recurring operating expense: Stock-based compensation expense 3,042 936 Acquisition related costs 78 - Change in fair value of derivative asset (gain) loss (43,683 ) - Change in fair value of contingent consideration (gain) loss 176 - Unrealized loss (gain) on marketable equity securities 1,611 - Other (income) expense 137 - Other revenue, (income) expense items: License fees (24 ) (24 ) Non-GAAP Adjusted EBITDA $ 11,743 $ 11,113 View comments || Bitcoin Sees Weakness at $29K as Traders Assess Fed Minutes: 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 ) temporarily lost, then recovered above, the $29,000 support level in European trading hours on Thursday, setting the tone for other major cryptocurrencies, data showed. The price dip followed a relatively positive market response to Wednesday's release of minutes of the U.S. Federal Reserve meeting held on May 3-4. The S&P 500 added nearly 1% and the tech-heavy Nasdaq ended the day 1.91% higher. In Europe, the Stoxx 600 and Germanys DAX both gained about 0.4% on Thursday. Bitcoin has traded in a tight range over the past few weeks. (TradingView) The minutes showed the agency was willing to be flexible on plans to increase rates and tighten monetary policy. Previously, Chair Jerome Powell said the Fed would take an aggressive stance which traders feared would lead to inflation. The Fed raised the official U.S. interest rate by half a percentage point earlier in May. It plans to reduce the size of its balance sheet by $47.5 billion a month for three months and up to $95 billion a month starting in September, as previously reported . Inflation is much too high, and we understand the hardship it is causing, Powell said at the time. Were moving expeditiously to bring it back down. At the time, the comments contributed to a fall in broader markets and spread to crypto. U.S. inflation has surged to its highest in four decades and is closely tracked by bitcoin (BTC) traders because the asset seen by many as a hedge against rising consumer prices. Bitcoin, however, remains bearish. It has lost value for each of the the past eight weeks a first in its history while futures and options data indicate traders are positioning for a further drop. An indicator tracking portfolio hedge reached a 12-month high this week, while yields on a popular trade involving bitcoin and ether ( ETH ) fell to lows. Expect volatility ahead Some analysts say bitcoins current range between $29,000 to $30,000 could be breached in coming weeks and the asset could become more volatile. Story continues We caution that this current reduction in volatility risks turning into an explosion in the near term, potentially setting off momentum for a few days or weeks, said Alex Kuptsikevich, a market analyst at FxPro, in an email to CoinDesk. A formal break of consolidation beyond the previous local extremes, which are located at $30,200 and $29,300, in a sharp move would trigger a wave of liquidation of positions, Kuptsikevich said. Liquidations typically cause sudden movement of prices as traders cover their positions to protect against losses. Other observers say the range is part of consolidation in the broader market. Following the crypto industry-wide sell-off with the demise of the LUNA network last week, markets have entered a period of consolidation, said Will Hamilton, a trader at crypto fund Trovio, in a note to CoinDesk. Rotation has continued within the stablecoin market as a further $1Bn in USDT redemptions has been absorbed by USDC and BUSD, Hamilton said, suggesting traders are not entirely exiting the crypto market. || New Oriental Education Is a Good Idea in a Risky Jurisdiction: China highly values education, to the point where much of society is formed around academic achievement. Cynically, then, this dynamic represents a powerful backdrop for New Oriental Education (NYSE: EDU ), a provider of private educational services in China. Thus, divorced from any other context, EDU stock should be a resounding buy. However, the Chinese government has some thoughts on the matter. Last year, Beijing imposed a sudden and startling crackdown on after-school education companies, sending the entire industry into disarray. On the surface, the move doesnt appear to make much sense. Given the countrys stated efforts to expand Chinese influence, educating its massive population would seem the most logical approach. However, as CNBC reported, prior to the crackdown, tens of millions of students across China drown in after-school tutoring courses every year. To ease the burden and anxieties on Chinese families, however, policymakers have forced academic tutoring businesses to restructure as non-profits. Not surprisingly, then, EDU stock and its ilk plummeted. InvestorPlace - Stock Market News, Stock Advice & Trading Tips In the year-to-date through the close of the April 27 session, EDU stock evaporated nearly 49% of market value. However, on the aforementioned session, shares spiked up almost 11%. Recently, New Oriental Education stated that its business overhaul is almost complete . Moreover, the implication is that the companys new investments into nonacademic tutoring and intelligent learning devices will eventually turn profitable. 7 Biggest Loser Stocks That Could Become Surprising Buys But is that enough for investors to take a shot on EDU stock? On a contrarian level, that the underlying company is still down nearly half relative to Januarys opener is enticing. In addition, if Beijing is to meet the aspirational targets of its 2050 initiative , improving educational standards must take priority. Here, overhanded governmental control may prove ineffective, thus its possible that China could reverse course. Story continues At the same time, the country is known for its extreme policies, most recently with its zero-tolerance approach to the coronavirus pandemic. Seeing as how China appears rather erratic with its economic and societal strategies, risk-averse investors may want to wait a bit on the sidelines. Even if youre a speculator, EDU stock will not be an easy ride. 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 . More From InvestorPlace Stock Prodigy Who Found NIO at $2
Says Buy THIS It doesnt 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 New Oriental Education Is a Good Idea in a Risky Jurisdiction appeared first on InvestorPlace . || Republican Rep. Madison Cawthorn failed to properly disclose up to $950,000 in cryptocurrency trades, including 'Let's Go Brandon' coin, bitcoin, and ethereum: • Rep. Madison Cawthorn already faces an ethics complaint over past crypto trades.
• Cawthorn appears to have again violated the STOCK Act's disclosure provisions.
• Congress is actively debating whether to limit or ban lawmakers from making certain financial trades.
Republican Rep. Madison Cawthorn of North Carolina appears tohave againviolated a federal conflict-of-interest law by failing to properly report purchases and sales of six types of cryptocurrencies, according to a new congressional financial disclosure.
The reported value of Cawthorn's newly disclosed crypto trades is between $290,000 and $950,000, according to his disclosure, which he filed with the US House of Representatives on Wednesday morning.
Cawthorn reported his trades took place between January and March. By federal law, he had no more than 45 days to publicly disclose them in a certified document submitted to Congress.
The value of his newly reported crypto trades are:
• Kryll, $116,000 to $265,000
• Ethereum, $61,000 to $215,000
• Solana, $48,000 to $195,000
• Bitcoin, $47,000 to $180,000
• Let's Go Brandon Coin, $15,000 to $50,000
• Request, $3,000 to $45,000
Lawmakers are only required to report the value of such financial trades in broad ranges.
Cawthorn on Wednesday also reported investing between $100,000 and $250,000 in a decidedly conservative fund — the SPDR S&P 500 ETF, which tracks the performance of the S&P 500 benchmark index. He also disclosed this trade Wednesday — on time, per federal law.
Cawthorn's congressional office did not immediately respond to a request for comment.
Cawthorn's new disclosures compound existing financial disclosure problems he faces.
Insiderpreviously reportedthat the young congressman, wholost his seat last monthto a primary challenger, disclosed in late May that he bought up to $250,000 in "Let's Go Brandon" coin on December 21, 2021.
On December 31, he sold some of his stake in the coin — at least $100,001-worth of it — but still held on to some of it. He reported the transaction about four months past when the disclosure was due.
While it's not illegal for Cawthorn to buy or sell the cryptocurrencies, he reported each of the transactions more than six months after making them — well over the limit required under the 2012 Stop Trading on Congressional Knowledge Act, or STOCK Act.
The law designed to defend against conflicts of interest and curb insider trading.
"All financial disclosure filings must disclose ownership interests of virtual currency" worth more than $1,000, as well as "purchases, sales or exchanges of cryptocurrencies," the House Committee on Ethics wrote in a 2018memorandumto lawmakers and congressional staffers.
Under congressional rules, Cawthorn could face a minimum fine of $200, but the House Committee on Ethics couldgrant him a waiverthat would absolve him of the fine.
The House Committee on Ethicslast monthannouncedthat it had formed a subpanel to in part investigate Cawthorn's financial trades.
Insider's "Conflicted Congress" project and other news outlets have since last year identified63 members of Congresswho have violated the STOCK Act. At least182 senior congressional staffershave violated the STOCK Act's disclosure provisions, as well.
Insider alsofoundnumerousexamplesofconflictsof interest among federal lawmakers — both Democrats and Republicans.
News about the "Let's Go Brandon" coin purchase — the virtual currency is named fora sluragainst President Joe Biden — was originally published in theWashington Examiner, which reported that Cawthorn may be in violation of insider-trading laws. If true, such a crime would be a matter for the Justice Department and the Securities and Exchange Commission to investigate.
Cawthorn has faced numerous controversies during his short time in office that drew the ire of GOP leadership. In April, officerscitedhim for carrying a loaded 9-millimeter handgun inside Charlotte Douglas International Airport.
He was previouslycited but not charged in February 2021for trying to bring a gun onto a plane in his carry-on luggage at Asheville Regional Airport.
House Minority Leader Kevin McCarthy publicly rebuked Cawthorn after he said on a podcast that he'd seen Washington Republicans use cocaine and that he'd been asked to participate in an orgy.
Cawthornlost his re-election bidlast month in a Republican primary. North Carolina state Sen.Chuck Edwardsdefeated Cawthorn.
Read the original article onBusiness Insider || 2 Cheap Stocks Trading at “Deal of the Century” Prices: This article is excerpted from Tom Yeung’s Profit & Protection newsletter. To make sure you don’t miss any of Tom’s picks, subscribe to his mailing list here . The Market Rout Has Made Deals of the Century Let me tell you something: I hate deal hunting. InvestorPlace - Stock Market News, Stock Advice & Trading Tips No matter how long I look for a bargain, I’ll find a cheaper version the moment I’ve finished paying. Want to buy a used car? Just wait until my friend finally sells me his 2004 Bentley. That’s guaranteed to crash the prices of used land yachts across the country. The latest smartphone? Airline tickets? A house? You bet it’s the same story. But when it comes to stocks, all that changes. The lower share prices go, the more excited I get. That’s because my investment system has a nose for good deals. Some companies have abnormally large cash hoards. Today no fewer than 368 companies have negative enterprise values, an atypical case where a firm’s cash on hand exceeds the value of their debt plus equity. Others have assets hiding in plain sight. Midstream energy firms like Martin Midstream Partners (NASDAQ: MMLP ) and Summit Midstream Partners (NYSE: SMLP ) are forced to value their assets as if oil were still trading at $50 per barrel (accounting standards don’t allow these assets to get marked to market). Perhaps I will buy that old Bentley after all. Even if I lose money on the car, there’s so much more to be made in “Bentleys” of stocks. An illustration of a yellow convertible. Source: Andrey Vyrypaev / Shutterstock.com The Cheap “Bentleys” of Wall Street This week, I’ve focused on the “value” part of the Profit & Protection system. Truth be told, it’s been a bit of a disappointment. Unlike growth — an all-weather source of alpha — simple value metrics are provenly bad at generating consistent returns. Cheap P/E stocks took such beatings in 2015 and 2020 that their outperformance in the intervening years since 2013 was entirely wiped out. But my analysis also unveiled some good news. Price-to-sales ratios did show some outperformance, as did value in general during periods of rising consumer demand. Now, I have a special end-of-week surprise: Two deep-value stocks flying under Wall Street’s radar. These are companies that simple P/E ratios fail to capture because of 1) hidden assets and 2) future cash flows. Desktop Metal (DM) Last month, I wrote about Desktop Metal (NYSE: DM ), a 3D printing company that was trading “within a spitting distance of its $1.50 estimated acquisition value.” There was already plenty to love about the company. Desktop Metal has an extraordinarily fast growth rate; analysts expect revenues to rise 5.4x to $608 million by 2024. And a new directive from the White House has put 3D printing back on the map. The AM Forward Initiative has already pressured defense suppliers from General Electric (NYSE: GE ) to Raytheon (NYSE: RTX ) to make “public commitments to purchase additively produced parts from smaller U.S.-based suppliers.” Story continues Now that we’ve been talking about value investing all week, DM’s rock-bottom $2 share price deserves another look. Pedal to the Metal First, let me be clear: DM is cheap because it’s burning through $60 million of cash every quarter. No matter how fast a company is growing, no firm can survive running out of money. Negative margins and sentiment have also compounded DM’s issue. In Q1 2022, the firm reported a 3-cent gross loss for every $1 of revenue. Shares are down 62% for the year. As they said during the dot-com era, you can’t make a business selling dollar bills for 90 cents. But hidden in DM’s terrible financials are two amazing assets: Cash from services. Much like General Electric and other “land and expand” plays, Desktop Metal generates most of its profits from after-market services. Last quarter, the firm generated $1.1 million in gross profits from services, compared to a -$2.4 million loss in product sales. Think of it as a “razorblade” business model for industrial-scale manufacturing. As the number of in-service printers rises, the amount of recurring revenue DM generates from these aftermarket sales will too. Analysts project DM’s gross margins will expand to 50% by 2024, generating $300 million of gross income for the firm. These cash flows are worth around $7 per share, according to my 2-stage DCF models. Intellectual Property. Accounting rules force every company to expense R&D spending, rather than keep the asset on the books. Such practices can obscure the value of a firm’s intellectual property. Consider ExOne, the 3D printing firm Desktop Metal acquired in 2021. Its $561.3 million acquisition price valued ExOne at 3.5x higher than its tangible equity value. A similar valuation would put Desktop Metal at $1.9 billion, or $6 per share. Taken together, this suggests that DM’s fair value is around $6.50, or 225% upside from today’s levels. Investors should remain cautious. Desktop Metal only has enough cash for around 18 more months of operations. “Investors should mentally prepare for a secondary offering,” I warned in early May before its devastating Q1 earnings report. But at $2, even conservative investors could consider taking a small bite. A chart showing DM tangible price-to-book. Bausch Companies: The Unbelievably Cheap “Protection” Play In financial theory, the Law of One Price dictates that the price of a particular asset or commodity should be the same everywhere, regardless of location, once certain factors are considered. In other words, arbitrage opportunities shouldn’t exist. The price of gold… oil… GameStop (NYSE: GME ) stock… all should trade at a single price across different markets. Yet, we all know that prices can temporarily move from fair value. Options market makers generate millions from writing contracts and immediately selling them to exchanges (and watch me lose 20% of my investment the moment I buy my friend’s Bentley). That’s because these “certain factors” can cover everything from risk to the weather outside (One study found that rainy days can depress the price of stocks in New York). A similar factor is now weighing on Bausch’s share price. A Temporary Setback Earlier last month, Bausch Companies IPO’d its eyecare subsidiary, Bausch & Lomb (NYSE: BLCO ). Savvy investors will immediately sense an opportunity. That’s because the subsidiary BLCO now trades at $16, valuing Bausch’s remaining 315 million shares at $5 billion. And the value of the parent company? $3.5 billion. In other words, every share of BHC you buy at $9 comes with $14.2 of BLCO shares, a seemingly impossible breach of the Law of One Price. Thoughtful investors will immediately point to Bausch’s large $22 billion debt and its ongoing lawsuit with the California State Teachers’ Retirement System. Such factors can easily decrease the value of a company. As credit analysts have long quipped, a company’s asset value might be uncertain, but the firm’s bankers will always know the value of its debts. But neither point adequately explains why the remainder of Bausch’s business should be worth negative $1.5 billion. Bond markets price BHC’s 2025 secured debts at a 7.3% yield — far better than other firms with a “B” credit rating. And analysts at Morningstar believe “it is unlikely Bausch will pay any amount greater than $100 million to the claimants” due to a related suit that was settled for CAD 94 million. Meanwhile, Bausch’s non-eyecare business generates strong cash flows. Blockbuster drug Xifaxan is patent protected through 2029 and generates around $1.3 billion in profits per year. International Rx and other drugs contribute another $1.2 billion per year. Together, that suggests BHC’s $9 price is too low. A 2-stage DCF model (which considers debt risk) puts BHC’s fair value at $14, a reasonable 55% return. Meanwhile, a multiples-based valuation that ignores debt risk gives a $25 price target. A chart showing BHC forward price-to-sales from 2019 to 2022 with 1.5x standard deviation bands marked. Ultimately, deals like this won’t last forever. And when you hear people talk about “being greedy when others are fearful,” companies like Bausch and Desktop Metal are the types they’re talking about. The EV/S Ratio Earlier this week, I noted how the price-to-sales ratio was the only common valuation metric that showed signs of alpha. A chart showing the 1-year return of stocks by P/S ratio quintile. But it’s hard to take action on these findings. Low P/S companies like Bed Bath & Beyond (NASDAQ: BBBY ) and Rite Aid (NYSE: RAD ) that drive the quintile’s performance also tend to have high leverage, making them risky bets. But one uncommon metric of the Profit & Protection system does show better promise: Enterprise value to sales. This metric accounts for the value of debt — a hidden force that can bankrupt risky firms. A chart showing the 1-year return of stocks by EV/S ratio quintile. By adding in the value of debts and deducting cash-on-hand, we get the downward-sloping graph that value investors would expect (i.e., cheaper quintiles sequentially outperforming expensive ones). Next week, we’ll cover the Profit & Protection concept of quality , the confounding factor that creates these distortions and helps strategies like the Perpetual Money Machine pick stocks that go up 1,000%. P.S. Do you want to hear more about cryptocurrencies? Penny stocks? Options? Leave me a note at feedback@investorplace.com or connect with me on LinkedIn and let me know what you’d like to see. 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. 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 2 Cheap Stocks Trading at âDeal of the Centuryâ Prices appeared first on InvestorPlace . View comments || Morning Crypto Briefing: BTC Chops Either Side of $30K, ADA Outperformance Continues: • Cryptocurrencies continue to swing within weekly ranges amid a lack of fresh catalysts ahead of Friday’s US CPI data.
• Bitcoin continues to chop between the low-$29,000s and upper-$31,000s while ethereum hovers near $1,800.
• Cardano continues to outperform as analysts cite a cocktail of positive drivers.
Amid a lack of notable macro catalysts, cryptocurrency markets continue to chop within intra-day ranges. Total crypto market capitalization was last around $1.225 trillion on Wednesday, almost bang on its 21-Day Moving Average, having swung within a $1.17-1.28 trillion range this week.
The relatively non-committal tone to cryptocurrency trade so far this week reflects broadly flat price action in US equity markets (with which crypto has had a close positive correlation in recent months). Price action in US government bond markets and in the US dollar has this week also left a lot to be desired, with traders for the most part keeping their powder dry ahead of Friday’s all-important US Consumer Price Inflation (CPI) data.
If the data offers fresh evidence that price pressures in the US are starting to ease, this will ease uncertainty about how much more the US Federal Reserve is going to tighten monetary policy in the latter stages of 2022 and in 2023. The prospect of the Fed needing to lift interest rates well into so-called restrictive territory to curb persistently high inflation is a key risk for crypto that has generally benefitted from looser financial conditions in recent years.
In fitting with the broader theme of consolidation this week,bitcoinwas last trading just below $30,500, down just over 2.0% on the day but well within this week’s and recent low-$29,000s to upper-$31,000 ranges. The world’s largest cryptocurrency, which at current levels has a market cap of around $580 billion, continues to find solid buying interest every time it probes its 21-Day Moving Average (currently just below $30,000). Indeed, technicians might well view bitcoin’s success in holding above its 21DMA so consistently in recent sessions as a potentially bullish short-term signal.
Ethereumprice action is much the same. ETH/USD was last trading just above $1800, well within this week’s low-$1,700s to low-$1,900s range. However, by contrast to bitcoin, ethereum has consistently failed to break/hold above its 21DMA in recent sessions and appears to be threatening a break below a key area of support in the $1700s. At current levels, the world’s second-largest cryptocurrency has a market cap of around $220 billion.
Turning to the major altcoins; Binance’sBNBwas broadly flat in the $290 area on Tuesday after posting multi-week lows in the low $270s on Tuesday. Ripple’sXRPwas last around 2.5% lower on Tuesday as it continues to pivot its 21DMA in the $0.40 area. Solana’sSOLwas last flat on the day in the $40 per token area, while Cardano’sADAcontinues to look comparatively bullish and was last up around 4.0% on Wednesday, taking its gains since its late May lows to nearly 50%.
Cardano’s outperformance versus the likes of some of its major layer-1, smart-contract enabled blockchain competitors like Ethereum, Solana and Avalanche has been notable in the last few weeks. Indeed, while Ethereum, Solana and Avalanche are all nursing losses of around 7%, 12% and 4% in the last seven sessions, according to CoinMarketCap data, Cardano is up by over 4.0%.
Crypto analysts have cited a few factors as driving recent outperformance, including; 1) Cardano’s upcoming Vasil hardfork on 29 June that will improve its Plutus smart contract platform and 2) continued growth of development activity on its blockchain. The number of projects being built on Cardano just surpassed 1000, Cardano blockchain developers Input Output HongKong (IOHK) announced on Wednesday. Meanwhile, after claiming the crown as the most developed crypto blockchain on Github in 2021, Cardano has continued to outperform its major competitors in terms of the number of new Github commits per month.
Elsewhere,Litcoinis lagging most of its major peers and was last trading roughly flat over the last 24 hours, CoinMarketCap data showed on Wednesday. That could reflect an announcement on Wednesday from major South Korean crypto exchange Upbit that it would be delisting Litcoin over its MimbleWimble privacy upgrade. South Korean exchanges are required to enforce strict Know Your Customer (KYC) and Anti-Money Laundering (AML) guidelines and Litecoin is not the first so-called “privacy coin” to be delisted.
Elsewhere, though it is no longer classed as a major altcoin, Terra’sLUNA2.0 token has continued to collapse in recent days, and was last down nearly 20% on Wednesday around $3.50. Just seven days ago it was trading closer to $7.30 per token. Crypto analysts are citing a high level of Fear, Uncertainty and Doubt (FUD) surrounding the Terra ecosystem in wake of allegations on social media that Terra founder and Terraform Labs (TFL) CEO Do Kwon outright lied about LUNA 2.0 being fully community-owned and with TFL accused of owing 42M LUNA 2.0 tokens. Kwon’s decision to take his Twitter account private hasn’t helped things.
Immediately after officially unveiling the first major US bill to regulate cryptocurrencies and digital assets, Senator Cynthia Lummis was speaking CNBC and referred to bitcoin as the “hardest money ever created”. Bitcoin can serve as a portfolio diversifier for investors, Lummis added. The bipartisan crypto bill put forth by Lummis and fellow Senator Kirsten Gillibrand on Tuesday received a mostly positive reception from the crypto community.
Indeed, Microstrategy CEO Michael Saylor, a so-called bitcoin maximalist and influential voice in the crypto space, said that regulatory clarity could help bitcoin and further spur its institutional adoption. “Bitcoin will benefit from regulatory clarity, which will facilitate & accelerate the participation of traditional banks, public companies, and institutional investors, growing the entire digital assets industry,” he said.
Furthermore, a group of human rights activists from 20 countries penned an open letter to the US Congress on Monday in support of “responsible crypto innovation” and arguing that bitcoin and stablecoins are an essential global tool for the promotion of democracy and freedom around the world. The letter comes after a group of anti-crypto members of the scientific community sent an open letter to Congress criticizing crypto and its associated risks.
“We write to urge an open-minded, empathetic approach toward monetary tools that are increasingly playing a role in the lives of people facing political repression and economic hardship,” the group of human rights activists said. “Bitcoin and stablecoins offer ungated access to the global economy for people in countries like Nigeria, Turkey, or Argentina, where local currencies are collapsing, broken, or cut off from the outside world”.
Elsewhere, Grayscale has reportedly hired Don Verrilli, a former US solicitor general under the Obama administration, to help push the US Security and Exchange Committee (SEC) into approving its bitcoin Exchange Traded Fund (ETF) application. The SEC will make a decision on whether Grayscale is able to convert its Bitcoin Trust to a proper bitcoin ETF by 6 July.
Meanwhile, after the New York Senate passed a bill that would put a two-year moratorium on all new fossil-fuel-powered crypto mining projects, the state’s governor is yet to commit to signing the bill into law or not. “We’ll be looking at all the bills very, very closely. We have a lot of work to do over the next six months,” Governor Kathy Hochul said on Tuesday.
In crypto regulatory news outside of the US, outgoing French lawmaker Pierre Person said in a report published on Wednesday that France should recognize Decentralised Autonomous Organisations (DAOs) andNFTsin its legal system, but also called for a ban on fossil fuel-powered crypto mining. Person accused the EU of dithering and being indecisive in its approach to crypto and called for the bloc to seize the opportunities offered by crypto.
The UK’s Finance Ministry said on Tuesday that it will soon begin testing the use the distributed ledger technology (DLT) that underpins crypto for traditional financial services and market activities. Specifically, the UK will begin the testing of DLT in the trading and settlement of stocks and bonds as soon as 2023, in part of what the Finance Ministry says is its drive to become a global “crypto hub”.
Elsewhere, PayPal announced on Wednesday that it now supports the transfer of bitcoin and other cryptocurrencies from its in-app wallet to external wallets. Meanwhile, major global payments company Chechout.com will now allow companies to accept and make payments in USDC. Speaking of USDC, Circle announced that the Polygon blockchain would now be supported on its payments platform.
In terms of exchange news; major US market-maker Citadel and Virtu announced on Wednesday that they plan to build a crypto exchange, with input also coming from US pension plan provers and asset management giants Fidelity and Charles Schwab. Meanwhile, Indonesia’s largest crypto exchange Pintu has raised $113 million in its latest funding round, while Binance is reportedly in talks with officials in the Philippines to obtain a license there.
In news related to Decentralised Finance (DeFi), the Osmosis Decentralised Exchange has been halted for emergency maintenance amid a possible $5 million liquidity pool hack. Meanwhile, Solana has set up a $100 million fund in South Korea to support Web3 development, which will see funds flow to into the development of NFT platforms, blockchain gaming and new DeFi protocols.
Thisarticlewas originally posted on FX Empire
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• Spotify promises rosy returns from podcasts and audiobooks someday || Fear & Greed Index Weighs on Bitcoin (BTC) and the Crypto Market: • On Sunday, bitcoin (BTC) rose by 1.51% to end the day at $29,452. Resistance at $29,500 capped the upside.
• The bullish session came despite a lack of any crypto news stories to shift the bearish investor sentiment.
• Bitcoin (BTC) technical indicators flash red, with bitcoin sitting at the 50-day EMA.
Bitcoin (BTC) rose by 1.51% on Sunday. Following a 1.46% gain on Saturday, bitcoin ended the week down by 2.68% to $29,452. The broadercryptomarket joined bitcoin in the green on Sunday.
A bearish start to the day saw bitcoin slide to an early low of $28,820 before making a move.
Steering clear of the First Major Support Level at $28,601, bitcoin rallied to a late-day high of $29,549 before easing back.
Breaking through the First Major Resistance Level at $29,331, bitcoin tested resistance at $29,500 before easing back.
This morning, the Fear & Greed Index fell from 14/100 to 10/100 to match last week’s low. The decline came despite bitcoin and the broader market enjoying a bullish weekend.
While avoiding a return to May’s low of 8/100, failure to breakout from its current ranges continues to spell trouble.
Regulatory uncertainty remains a concern for investors following the collapse of TerraUSD (UST) and TerraLUNAClassic.
Investigations into the events that preceded the collapse could unveil sinister activity that could further test the appetite for cryptos.
Investor sentiment towards Do Kwan and the Terra ecosystem failed to improve following the launch of LUNA 2.0.
On Saturday, LUNA tumbled by 80% to a low of $4.00 before finding support. The sell-off reflected a distrust following Saturday’s airdrop.
At the time of writing, BTC was down by 0.32% to $29,357.
BTC will need to avoid the $29,272pivotto target the First Major Resistance Level at $29,725.
BTC would need the broader crypto market to support a breakout from Sunday’s high of $29,549.
An extended rally would test the Second Major Resistance Level at $30,003. The Third Major Resistance Level sits at $31,732.
A fall through the pivot would test the First Major Support Level at $28,997. Barring an extended sell-off, BTC should steer clear of sub-$28,500 levels. The Second Major Support Level at $28,545 should limit the downside.
Looking at theEMAsand the 4-hourly candlestick chart (below), it is a bearish signal. The 50-day EMA, currently at $29,348, pegged bitcoin back. The 50-day pulled back from the 100-day EMA. The 100-day EMA fell back from the 200-day EMA, BTC negative.
A return to $30,000 and a move through the 100-day EMA at $30,148 would support a shift in sentiment.
Thisarticlewas originally posted on FX Empire
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• USD/JPY Forex Technical Analysis – Rangebound; Strengthens Over 127.410, Weakens Under 126.316 || What to Expect From AMC Entertainment Stock Q1 Earnings: Not surprisingly, AMC Entertainment (NYSE: AMC ) stock is on another losing streak. And even if the company’s next earnings report shows some improvement, I’m staying away from this struggling movie theater stock. AMC stock is down more than 45% just in the last month, falling close to $15 per share. That’s still better than where it was before the Covid-19 pandemic — and that should tell you something about AMC stock. This is a company that was in trouble long before the pandemic shuttered movie theaters and forced everyone to lock down. Given a choice between watching a movie at home and watching one in the theater, many people are opting for the former over the latter. The seats are comfier, the popcorn is far cheaper and you don’t have to worry about crying toddlers ruining the experience (unless you have one, of course). InvestorPlace - Stock Market News, Stock Advice & Trading Tips And while retail investors led by the crew at Reddit’s r/WallStreetBets led a short squeeze in 2021 to push AMC to more than $50 per share for a few days, it would take a miracle for the movie theater company to find and sustain those gains any time soon. AMC reported a fourth-quarter loss of $134.4 million on revenue of $1.17 billion. And when the company issues its Q1 earnings report on May 5, it’s expected to post another loss — this time of 65 cents per share, according to Zacks . 7 A-Rated Dividend Stocks to Buy Forever Granted, that would be an improvement of 54% from the previous year. And revenues are expected to come in at $724.47 million, which would be up more than 388% from a year ago. If AMC can beat those expectations, it could see a mild pop from earnings. And investors should be carefully review the company’s forecast for the second quarter and the rest of the year. The company has been on a buying spree, and recently added another seven theaters to its network in Connecticut, New York and Maryland. And it announced it was installing laser projectors in 3,500 of its auditoriums over the next four years. Story continues There are also a number of big-ticket movies on the horizon, including Doctor Strange in the Multiverse of Madness , Top Gun: Maverick , Thor: Love and Thunder and Avatar 2 that are due to come out this year. That could have a short-term benefit to AMC stock. But AMC is always going to be running in keen competition with streaming stocks , which I think are a better buy than traditional movie theaters these days. I’ll avoid AMC stock here. On the date of publication, Patrick Sanders 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 What to Expect From AMC Entertainment Stock Q1 Earnings appeared first on InvestorPlace . || Soluna Receives $35M From Spring Lane to Build Green Data Centers: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. Soluna Holdings (SLNH), a data-center developer that uses renewable energy for computing, arranged $35 million in project financing from private equity firm Spring Lane Capital for building more facilities. The money will help develop three behind-the-meter (BTM) facilities, designed to convert wasted renewable energy into clean computing for services such as bitcoin ( BTC ) mining and artificial intelligence, according to a statement . Soluna is the only true green bitcoin company weve yet seen, said Rob Day, a Spring Lane partner and co-founder. Going after wasted renewable energy spilled power is a compelling solution and fixes both bitcoins climate problem and wind powers grid problem. The first of the three projects, Dorothy, will be a 100 megawatt (MW) capacity data center connected to a Texas wind farm that produces more electricity than the grid can consume. Energy from renewable sources, such as wind, sometimes overloads the power grid when the energy produced exceeds demand. Data centers like Solunas help manage the supply by running computing-intensive processes like crypto mining. Dorothy will have 50MW of initial capacity and is expected to be activated in coming months. The other two projects will come from Solunas robust pipeline, the statement said. Soluna said the new capital brings total funding for data centers co-located with renewable energy assets to $100 million. Most recently it closed a $29.2 million Series A preferred stock public offering and sold a business unit for $10.75 million . Read more: Can Crypto Miners Make the World Greener?
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 22206.79, 22572.84, 20381.65, 20471.48, 19017.64, 20553.27, 20599.54, 20710.60, 19987.03, 21085.88
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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.
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[Technical Analysis for 2018-05-04]
BTC Price: 9700.76, BTC RSI: 62.63
Gold Price: 1312.70, Gold RSI: 43.19
Oil Price: 69.72, Oil RSI: 65.23
[Random Sample of News (last 60 days)]
Coinbase gears up to jump through regulatory hoops with new CFO and other big hires: TheCoinbasehiring spree continues. In the last week and a half, the company has picked up a new CTO, a new VP of communications, a global head of inclusion and now a new CFO. In ablog post today, the company announced the addition of Alesia Haas, who joins the team from New York-based alternative asset management firm Oz Management. Previously she held roles with Merrill Lynch and General Electric.
"I'm incredibly excited to have Alesia join Coinbase as our new CFO. She brings deep financial services experience to our growing company," Coinbase CEOBrian Armstrongsaid of the hire.
"As a fintech company, finance is core to everything that we do. We plan to continue bringing the best and brightest from both finance and technology companies to help create an open financial system for the world."
Coinbase's other very recent hires:
• Balaji Srinivasan, Chief Technology Officer (April 16). Srinivasan joins through the company'sacquisition of Earn.com, where he served as CEO.
• Rachael Horwitz, Vice President of Communications (April 9).Horwitzwas a partner at Spark Capital.
• Tariq Meyers, new Coinbase Global Head of Belonging & Inclusion, formerlythe head of diversity and inclusion at Lyft.
Lyft’s diversity efforts are not going unnoticed
But that's not all for Coinbase's recent staff-up. The company also recently brought on board: Emilie Choi, Vice President of Corporate and Business Development;Tina Bhatnagar, Vice President of Operations and Technology; andEric Scro, Vice President of Finance. In ablog post, the company noted that it was "working quickly to expand our executive team" during the current period of extreme growth. While it's certain that the company is undergoing some major growth, it's also girding for potential regulation.
Coinbase buys Earn.com and makes CEO Balaji Srinivasan its first CTO
Earlier in April, Coinbasereportedly approached the SECabout the possibility of registering as a licensed brokerage firm and electronic trading venue. Such a move would allow Coinbase to invite into its elite ranks coins currently under scrutiny for looking like securities. If that comes to pass, the company could see a major expansion beyond the four coins (Bitcoin, Bitcoin Cash, Ethereum, Litecoin) that trade on the platform now, particularly a move toward bringingERC20 tokens into the foldas the company signaled it would in late March.
Disclosure: The author holds a small position in some cryptocurrencies. Regrettably, it is not enough for a Lambo. || XRP Outlook Sours as Coinbase Quashes Listing Rumor: Ripple's XRP token was the darling of the crypto markets 24 hours ago on rampant speculation that the cryptocurrency will finally take its spot on Coinbase's exchanges. But it wasn't to be. Prices popped to a 12-day high of $1.08 before Coinbase poured cold water on the enthusiasm, making it clear via Twitter that it has no intention of adding XRP to its existing pairs - yet, anyway. Fueling the rumor, was talk that Ripple CEO Brad Garlinghouse and Coinbase president and COO Asiff Hirji would appear together on CNBC's "Fast Money" program on Tuesday. Later, a CNBC article confirmed the appearances, but said they were separate and unrelated interviews. So, the twin rebuttals look to have taken the steam out of the XRP rally, pushing the prices to a low of $0.93 soon before press time. The cryptocurrency is now down 11.58 percent over 24 hours. More generally, Korean exchanges are driving XRP's trading volume, with Bithumb, Upbit, and Coinone accounting for close to 38 percent of the total seen in the last 24 hours. Price chart analysis indicates that the retreat from yesterday's 12-day high has weakened the bulls, but the slightest of positive comments from Ripple CEO Garlinghouse might put a bid under the cryptocurrency once more. Daily chart The above chart (prices as per Bitfinex) shows: XRP ran into offers above the descending trendline resistance (drawn from the Jan. 28 high and Feb. 17 high) yesterday and closed (as per UTC) at $0.93, adding credence to the bearish 50-day moving average (MA) and 100-day MA crossover. The token's dip below the ascending trendline support (drawn from the Dec. 7 low and Feb. 6 low) has weakened the bulls and opened the doors for a drop to $0.86 (78.6 percent Fibonacci retracement of the rally from the Dec. 7 low and Jan. 4 high). The relative strength index (RSI) is biased bearish (below 50.00). View While the daily chart seems to favor the bears, still only a daily close (as per UTC) below $0.8610 (78.6 percent Fibonacci retracement) would confirm bearish reversal and could yield drop to 200-day MA located at $0.65. On the bull side, a high volume break above the 100-day MA of $1.10 would signal a continuation of the rally from the Feb. 6 lows below $0.57 and allow a stronger rally to $1.38-$1.40. Story continues XRP/BTC chart The descending triangle breakdown confirmed on Feb. 28 signaled the continuation of the sell-off from the record high of 0.000229800 BTC (Jan. 4 high). The failure to cut through the resistance of the 61.8 percent Fibonacci retracement level seen yesterday has strengthened the bear case. View So, XRP/BTC will likely break below the March 3 low of 0.000078 BTC and drop to 0.00006151 BTC (Dec. 26 low). On the higher side, a daily close (as per UTC) above 0.000095175 BTC (61.8 percent Fibonacci retracement) would signal bearish invalidation. Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Ripple, the company that oversees XRP development. Deflated balloon image via Shutterstock Related Stories Thomson Reuters Is Using Your Feelings About Bitcoin to Make Investors Rich Bitcoin Eyes $10K, But Charts Hint at Bull Trap Potential How XRP's Tech Differs from Other Crypto Assets Bitcoin Dropped 20% But Wasn't Week's Big Crypto Price Loser || Why Ford and Mahindra Are Teaming Up on SUVs and EVs for India: Ford Motor Company (NYSE: F) and Indian automaker Mahindra & Mahindra Ltd. (NASDAQOTH: MAHMF) have agreed to work together to develop two new SUVs and an electric vehicle. The deal, announced on Thursday, builds on a strategic alliance between Ford and Mahindra that began last year. It's a step forward for CEO Jim Hackett's effort to rethink and expand Ford's presence in India. The deal: New SUVs for India, and an electric vehicle too In a joint statement, Ford and Mahindra said that they had signed a total of five new memoranda of understanding to "accelerate the development of key products for consumers in India and emerging markets." Among those key products: A new midsize SUV will be developed jointly on an existing Mahindra platform. Ford and Mahindra will each have a version of the SUV, and will market them separately. The two will evaluate co-development of a new compact SUV and an electric vehicle of some kind. Ford and Mahindra may also share powertrains (engines and transmissions). One possibility: Ford may buy low-cost powertrains from Mahindra to use in new products for the Indian market. The two will also work together to develop a suite of connected-car solutions, as part of Ford's global effort to build connectivity into more of its vehicles. The companies didn't give details on the timing of these new products. What Mahindra gets: Access to Ford's expertise Mahindra is one of India's industrial giants. It's a big builder of farm equipment and vehicles of all kinds, and it has been the country's leading seller of SUVs for years. The simple and rugged Mahindra Bolero SUV is among the country's best-selling vehicles. The company's products are simple, rugged, and affordable -- but by global automaking standards, they're kind of rough around the edges. (That's not a criticism. They're successful in their intended market.) A brown Mahindra Bolero, a rugged Jeep-like SUV, on a rocky dirt road The rugged Mahindra Bolero is a popular SUV in India. Image source: Mahindra & Mahindra Ltd. Story continues What Mahindra gets from working with Ford is access to the kind of technology and expertise that can help take it to the next level. Among other things, Mahindra has been working on the challenge of developing an electric vehicle that could be sold profitably to India's exceptionally cost-conscious consumers. "We are excited about the synergies unveiled through this collaboration and the potential opportunities it will bring," said Dr. Pawan Goenka, Mahindra's managing director. What Ford gets: Another chance to grow in India Ford global markets chief Jim Farley said that the deal will boost two of Ford's current areas of focus, SUVs and electric vehicles: Ford is committed to offering the best vehicles, technologies and services that fit the lifestyles and preferences of Indian consumers. Listening to our customers and incorporating their future needs is the core premise of this collaboration. With utility vehicles and electrification as key focus areas, we are glad to see the progress our two companies have made. It's also a way to boost Ford's presence in India, where the company has had decidedly mixed success since ramping up its investments early in the decade. An orange Ford EcoSport in India Ford originally developed the little EcoSport SUV for emerging markets like India. But it's had more success exporting it from India to the U.S. and Europe. Image source: Ford Motor Company. Ford began building two factories in India in 2010, in anticipation of sales growth that didn't materialize . It shifted to an export strategy in 2013, using those factories as low-cost production centers while it waited for local demand for Fords to increase. It's still building vehicles for export, notably the new EcoSport, which is built in India for the U.S. and European markets. But Fords still haven't caught on in a big way with Indian consumers, who are among the world's most price-conscious when it comes to car-shopping. Hackett and Farley clearly think that Ford could be a bigger player in India if it had lower-cost products that it could build and sell profitably. That's probably true, and sharing product-development costs with Mahindra is a path that seems to stand a good chance of success. 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 Ford. The Motley Fool owns shares of and recommends Ford. The Motley Fool has a disclosure policy . || Tesla Is Hell-Bent on Achieving Profitability: After years of rapidly burning through cash, Tesla (NASDAQ: TSLA) is ready to start prioritizing profits. In the electric-car company's April 3 update on vehicle production and deliveries, Tesla said that achieving its target for a production rate of 5,000 Model 3 units per week by around the end of June would set the company up to "have the long-sought ideal combination of high volume, good gross margin and strong positive operating cash flow." Further, Tesla CEO Elon Musk was even more specific on Twitter recently, when he said the company will be profitable in both its third and fourth quarters of 2018. Now investors are getting a preview of exactly how Tesla expects to achieve higher production and profitability. According to a leaked memo to employees (via Jalopnik ), strategies include moving to 24/7 operations, special approval for large expenses, and several pauses in production to upgrade tooling and systems. Tesla Model X body assembly line at the company's factory in Fremont, California Tesla vehicle production. Image source: author. Here are some of the most notable takeaways from Musk's memo. 1. Tesla's recent end-of-quarter push was sustainable Given how sharp Tesla's ramp-up in Model 3 production was during Q1, some investors have wondered whether achieving a weekly production rate of 2,000 Model 3s per week by the end of the period was simply an unsustainable byproduct of a herculean end-of-the-quarter push. But Musk said in his letter to employees that the company just completed its "third full week of producing over 2000 Model 3 vehicles," building 2,250 last week. 2. Model S and X production isn't suffering As Tesla focused on its Model 3 production ramp-up, Model S and X production initially took a hit. After building 25,076 combined Model S and X vehicles in Q3, production for the two vehicles totaled 22,140 in Q4 as the company reallocated human resources to work on Model 3. But Model S and X production began to improve in Q1, climbing to 24,728 units. And now Model S and X production is trudging along unabated. Musk said Tesla is now producing 2,000 Model S and X vehicles per week, while producing over 2,000 Model 3s per week. Story continues Tesla Model X SUV Model X. Image source: author. Tesla's current weekly production rates for Model 3 and Model S and X combined extrapolates to 221,000 vehicles annually -- more than twice the total vehicles Tesla produced and delivered in 2017. 3. Tesla expects production to jump again this quarter As Tesla has done previously amid sharp increases in production, the automaker has paused its Model 3 production for three to five days in order to "do a comprehensive set of upgrades" to its manufacturing capabilities. These upgrades should boost production capacity to a rate of 3,000 to 4,000 Model 3 units per week by next month, Musk said. Further, "Another set of upgrades starting in late May should be enough to unlock production capacity of 6000 Model 3 vehicles per week by the end of June," the CEO added. 4. Tesla is switching to 24/7 operations With Tesla's renewed emphasis on manual labor , the electric-car company's ambitious goals will require more hours from employees and 400 new hires at its factories over the next several weeks as Tesla switches to 24/7 operations at its Fremont factory. "This means that we will be adding another shift to general assembly, body and paint," Musk explained. "Please refer anyone you know who you think meets the Tesla bar for talent, drive and trust." 5. There are no more excuses for reporting losses With Model 3 production ramping up, Musk says Tesla no longer has valid excuses to continue reporting losses. A fair criticism leveled at Tesla by outside critics is that you're not a real company unless you generate a profit, meaning simply that revenue exceeds costs. It didn't make sense to do that until reaching economies of scale, but now we are there. A woman unlocks her Model 3 with a Tesla app on her smartphone Model 3. Image source: Tesla. To ensure it achieves profitability, Musk said the company will be "far more rigorous about expenditures" going forward. Specifically, Tesla's finance department is sifting through every expense to ensure every dollar spent has "a strong value justification." Further, Musk said he will need to personally approve any expenses that would equal one million dollars or more over a 12-month period. 2018 is proving to be a wild year for Tesla. After finishing 2017 significantly behind its initial Model 3 production targets, the automaker seems hell-bent on achieving economies of scale and profitability. 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 owns shares of Tesla. The Motley Fool owns shares of and recommends Tesla and Twitter. The Motley Fool has a disclosure policy . || No Retirement Savings and Nearly Out of Time? Here's How to Compensate: Though we're told to prioritize retirement savings during our working years, it's estimated that nearly half of U.S. households have no money set aside for the future. Now, if you're in that camp but still have a number of working years ahead of you, there's plenty of opportunity to catch up. But what if you're well into your 60s without a dime saved?
It's certainly not an ideal scenario, seeing as howyou can't live off of Social Security alone. But here are a few things youcando to make up for your lack of savings.
Image source: Getty images.
So you've reached yourfull retirement agefor Social Security purposes, and you're gearing up to call it quits. Not so fast. Though you may not have any savings, or a salary that enables you to save, if you continue to work a bit longer, you'll have the option to hold off on filing for Social Security, thus boosting your monthly benefits.
For each year you delay benefits past full retirement age, your monthly payments go up by 8% until you turn 70, at which point the incentive to wait runs out. So let's assume your salary is just enough to pay your bills, but nothing more. If your full retirement age is 67 but you hold off on benefits until 70, you'll wind up collecting 124% of the amount you were initially entitled to. And that's a good way to help compensate for absent savings.
Maybe you no longer have the energy or option to continue working a full-time, 40-hour-a-week job. But if you're able to work part-time as a senior, that income, combined with your Social Security benefits, could be enough to get by on.
Best of all, you don't need to take any old job to pay the bills. Retirement is actually a great time to start a business, so if there's something out there you've always wanted to do, here's your opportunity. In fact, seniors 65 and older are more likely to beself-employedthan any other age group, according to the U.S. Bureau of Labor Statistics. So whether it's consulting or crafts, find something you enjoy doing, and use it as a means of sustaining yourself.
So you're lacking in savings and aren't looking to work part-time when you're older. If you're a homeowner, you're not totally out of luck, since there are several ways you can turn your property into an income stream.
For one thing, you can try finding a full-time tenant and collecting rental income throughout the year. This will work well if you have a finished basement, garage, or other segregated area of your home. Another option is to rent out your home seasonally, which is doable if you live near popular attractions like the beach or a major theme park or ski resort.
If neither option is feasible -- say, you don't have the space to have other people take up residence in your home -- you can look into areverse mortgage, which will give you a cash payment each month to help cover the bills. Reverse mortgages, however, come with their share of drawbacks, so don't rush into one without doing your research.
Entering retirement without savings is a scary prospect, and one all workers should take steps to avoid. But if that's the situation you're faced with, don't panic just yet. You do have options for generating more income once your full-time career comes to a close. Exercise them wisely, and you just might salvage your retirement after all.
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The Motley Fool has adisclosure policy. || Better Buy: Amgen Inc. vs. Gilead Sciences, Inc.: Amgen Inc. (NASDAQ: AMGN) and Gilead Sciences, Inc. (NASDAQ: GILD) have several things in common. They're both big, successful biotechs. They both generate tremendous cash flow. And both Amgen and Gilead face challenges from declining sales of important products. In recent years, Gilead's problems have caused its stock to perform much worse than Amgen. However, the story has changed somewhat over the past 12 months. But which of these two big biotech stocks is the better buy now? Here's how Amgen and Gilead Sciences compare. Scientist holding test tube with biotech symbols in foreground Image source: Getty Images. The case for Amgen I can think of seven reasons investors might want to buy Amgen. The first five are the "compelling long-term growth drivers" identified by Amen CEO Bob Bradway at the J.P. Morgan Healthcare Conference earlier this year. Three of the long-term growth drivers Bradway identified are drugs already in Amgen's product lineup -- osteoporosis drug Prolia, multiple myeloma drug Kyprolis, and cholesterol drug Repatha. Prolia is the only blockbuster of the group right now, generating sales of nearly $2 million last year. There could be significant growth potential for Kyprolis and Repatha, though. Amgen reported impressive overall survival improvement for patients taking Kyprolis in a late-stage study in December. The biotech hopes to win approval from the FDA to add this data to the label for Kyprolis, which could boost sales for the drug. There's a similar story for Repatha. The drug faced considerable payer resistance in 2016 and 2017. However, Amgen thinks that positive cardiovascular outcomes data added to Repatha's label could help improve access to the cholesterol drug. Another of the growth drivers Bradway listed is actually a group of drugs -- the company's biosimilars. Amgen has already received U.S. and European approval for Amjevita, a biosimilar to Humira, and Mvasi, a biosimilar to Avastin, The company awaits regulatory approval for ABP 980, a biosimilar to Herceptin. Mvasi and ABP 980 were developed in partnership with Allergan . Story continues Bradway's final growth driver is Aimovig. The FDA should announce its decision by May 17 on approval for the migraine drug Amgen and partner Novartis have developed. The other couple of reasons to buy Amgen are tied together. One is the company's nice dividend, which currently yields 2.8%. Amgen has raised its dividend every year since initiating the program in 2011, with a total increase of more than 370%. Finally, there's the strong cash flow that make that dividend possible. Amgen generated free cash flow of $10.5 billion over the past 12 months. Thanks to this cash flow, the biotech reported cash, cash equivalents, and marketable securities of $41.7 billion at the end of 2017. There's little doubt that Amgen will use its cash flow and cash to make strategic acquisitions that fuel more growth. The case for Gilead Sciences Gilead Sciences has its own growth drivers. The biotech continues to dominate in HIV, with eight blockbuster drugs. Genvoya is Gilead's top HIV drug right now, with sales soaring 148% year over year in 2017 to nearly $3.7 billion. The main HIV drug to watch, though, is Biktarvy . Gilead won FDA approval for the drug in February. The company thinks Biktarvy is the best HIV drug to ever reach the market, and analysts think it will reach peak annual sales in the ballpark of $6 billion. Thanks to its acquisition of Kite Pharma, Gilead now stands as a leader in cell therapy, one of the most exciting fronts in the battle against cancer. CAR-T drug Yescarta won FDA approval in October as a third-line treatment for large B-cell lymphoma. Gilead is also evaluating the drug as an earlier line of therapy in the indication and in treating other malignancies. Yescarta holds the potential to become another megablockbuster for the biotech. Gilead's pipeline includes two especially promising late-stage candidates. Selonsertib is Gilead's lead asset targeting treatment of non-alcoholic steatohepatitis (NASH). Gilead also hopes to enter the autoimmune-disease market with filgotinib. The drug is currently being evaluated in late-stage studies targeting treatment of rheumatoid arthritis and inflammatory bowel disease. I'm particularly intrigued by Gilead's potential in NASH. The disease is expected to become the leading cause for liver transplants by 2020. There's currently no approved treatment for NASH. Projections for the annual market size for NASH treatments range from $20 billion to $35 billion. In addition to selonsertib, Gilead has two other experimental NASH drugs in phase 2 clinical studies. Like Amgen, Gilead offers an attractive dividend. Its yield currently stands at 2.95%. Gilead implemented its dividend program in 2015 and has increased the dividend nearly 33% since then. Also like Amgen, Gilead's strong dividend is the result of the company's impressive cash flow. Over the past 12 months, Gilead generated free cash flow of $11.3 billion. The biotech's cash flow allowed it to build up a nice cash stockpile, which totaled $36.7 billion at the end of 2017 -- including cash, cash equivalents, and marketable securities. Gilead might use some of its financial flexibility provided by its strong cash flow and cash position to make more deals. CEO John Milligan said recently that the company has "been open about our desire to increase our pipeline through acquisitions and partnerships with other companies." Better buy Making the cases for Amgen and Gilead left out the challenges the companies face. Amgen must deal with falling sales for its three top-selling drugs, Enbrel, Neulasta, and Aranesp. Gilead continues to reel from steep sales declines for its hepatitis C franchise. However, Amgen is probably at the early stage of its headwinds, while Gilead thinks the hepatitis C market could stabilize in the near future. In my view, this is one of the key differentiating factors between the two stocks. Another big difference is Gilead's pipeline, which I consider to be stronger than Amgen's. I think both of these big biotechs will deploy their cash in smart ways to ensure success over the long run. However, I think Gilead Sciences is the better stock to buy right now. 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 Keith Speights owns shares of Gilead Sciences and JPMorgan Chase. The Motley Fool owns shares of and recommends Gilead Sciences. The Motley Fool has the following options: short May 2018 $85 calls on Gilead Sciences. The Motley Fool has a disclosure policy . || Cryptocurrency Prices Down; Nasdaq May Open Crypto Exchange: Cryptocurrency prices were down on Thursday Investing.com - Cryptocurrency prices were down on Thursday. Reports that Nasdaq’s CEO voiced support for the digital coins gathered some attention. Meanwhile, U.S. state Wisconsin is considering accepting Bitcoin for donation. Bitcoin was trading at $8,860.5 by 12:30AM ET (04:30GMT) on the Bitfinex exchange, down 5.74% over the previous 24 hours. Ethereum, the world’s second largest cryptocurrency by market cap, shed 5.43% at $621.74 on the Bitfinex exchange. Ripple’s XRP token lost 5.08% to $0.80275 on the Poloniex exchange. Meanwhile, Litecoin slipped 5.49% to $145.93. Nasdaq CEO Adena Friedman said Nasdaq is open to launching a cryptocurrency exchange in the future as the regulatory environment evolves. "I believe that digital currencies will continue to persist...it's just a matter of how long it will take for that space to mature," said Friedman. "Once you look at it and say, 'do we want to provide a regulated market for this?' Certainly, Nasdaq would consider it." But the virtual currencies are still very lightly regulated. That is part of the appeal to many early adopters but would have to change in order for Nasdaq to operate a cryptocurrency exchange, Friedman said. Meanwhile, reports that Wisconsin ethics officials in the U.S. are considering accepting political contributions in bitcoins and other digital currencies attracted some attention. The move caused concerns about the inherent anonymity of such donations and the fluctuation of exchange rates. The traditional method of campaign donations via cheque or credit cards allows authorities to trace their source and learn about the donor’s identity. This came after the federal government, Montana and Washington, D.C., already allow bitcoin campaign contributions, while most U.S. states have been lukewarm in accepting cryptocurrencies due to untraceable source of donation. Related Articles FT: Multiple Online Harassment Allegations Against IOTA Team, Foundation Board Member Says He’s Not ‘Aware’ Of Incidents Bitcoin Rally Cools After Rise to Nearly $10,000 Meets Resistance OKEx Halts ERC20 Trading After Finding Bug Affecting Majority of Tokens || Japan punishes seven cryptocurrency exchanges over regulatory lapses: By Taiga Uranaka and Thomas Wilson
TOKYO (Reuters) - Japan punished seven cryptocurrency exchanges, ordering two of them to suspend business, in an effort to shore up consumer protection after a $530 million theft of digital money from Tokyo-based Coincheck Inc earlier this year.
The Financial Services Agency (FSA) criticized the exchanges for lacking the proper internal control systems, and ordered them to make improvement in areas from risk management to preventing the criminal use of digital money. The FSA rap on Thursday briefly drove down bitcoin prices.
The exchanges included Coincheck, served with its second such notice since it was targeted in the late-January heist, and GMO Coin, run by GMO Internet Inc (9449.T). Bit Station and FSHO were ordered to halt operations for a month.
The punishments represent the FSA's broadest response yet to concerns over security at Japanese cryptocurrency exchanges, which were first triggered by the 2014 collapse of the Mt. Gox exchange and resurfaced with the Coincheck heist.
The regulator said Coincheck lacked proper systems for dealing with risks such as money laundering and terrorism financing. It gave the exchange until March 22 to submit a report on how it would improve.
At a briefing after the FSA's sanctions, Coincheck CEO Koichiro Wada told reporters that the exchange's systems "weren't in keeping with the expansion of our business".
Wada said he was looking at options, including resignation, to take responsibility for the hack.
Coincheck will from next week repay about 46 billion yen ($434 million) to investors who had lost digital money, the exchange said, adding it would lift curbs on the trading of some cryptocurrencies imposed after the theft.
PROBLEM: UNREGISTERED EXCHANGES
Bitcoin (BTC=BTSP) fell as much as 5.7 percent following FSA's criticism, before recovering to trade up about 2 percent at $10,124 by 0930 GMT.
The virtual currency hit a peak of $19,458 in December, but has since almost halved given a series of crackdowns by regulators across the globe on the digital coin trade.
Japan last year became the world's first country to regulate cryptocurrency exchanges. Some 16 exchanges are currently registered, while another 16, including Coincheck, were allowed to continue operating while their applications are checked.
Five of the seven exchanges punished by the FSA are unregistered, including the two forced to suspend business.
A senior employee at Bit Station used customers' bitcoin for their own purposes, the FSA said, adding that the exchange has now offered to drop its registration application.
Bit Station and FSHO did not immediately respond to emailed requests for comment.
The head of the ruling Liberal Democratic Party's cybersecurity taskforce said it was not ideal that exchanges that had not registered with the government should be allowed to continue operations.
"It's problematic that these 16 unregistered exchanges have been able to continue trading," Sanae Takaichi told Reuters. "In the first place, should they have been allowed to operate while their applications for registrations are still incomplete?"
HOT AND COLD WALLETS
The theft from Coincheck, one of the biggest digital money heists ever, underscores the risks policymakers across the globe face in regulating cryptocurrency trading.
Coincheck said a hacker used malware to break into its network before stealing an encrypted key and withdrawing the digital coins. The stolen coins were then stored in "hot wallets" or digital folders accessible from the internet.
Coincheck said it had moved coins stored in some hot wallets to more secure "cold wallets" - computers or drives not connected to the internet.
At GMO Coin, one of the two registered exchanges sanctioned, the FSA said system glitches occurred frequently but the company had failed to sufficiently analyze the root cause. The regulator ordered it to submit a report by March 22.
Shares in GMO Internet fell as much as 5.6 percent. The benchmark Nikkei average (.N225) closed up 0.5 percent.
"We will look again at our system risk management, and take thorough steps to improve to regain users' trust," a GMO spokeswoman said.
(Reporting by Taiga Uranaka and Thomas Wilson; Editing by Chris Gallagher, Sam Holmes and Himani Sarkar) || Why Altria Group Wasted No Time Raising Its Dividend: Few companies have treated dividend investors as well as tobacco leaderAltria Group(NYSE: MO). For half a century, dividends have been a key part ofAltria's strong performancefor long-term investors. In that time, the company has consistently rewarded its investors with regular dividend increases, with annual boosts becoming commonplace.
In 2018, investors were rightfully confident that Altria would be able to give them a bit more capital in the form of quarterly dividends, but most of them expected news of a dividend increase to come later in the year. Instead, Altria didn't waste any time, announcing a higher dividend at its first opportunity. Let's look more closely at Altria and why it did something out of the ordinary to start the year.
[{"Current Quarterly Dividend Per Share": "Current Yield", "$0.70": "4.5%"}, {"Current Quarterly Dividend Per Share": "Number of Consecutive Years With Dividend Increases", "$0.70": "49 years*"}, {"Current Quarterly Dividend Per Share": "Payout Ratio", "$0.70": "48%"}, {"Current Quarterly Dividend Per Share": "Last Increase", "$0.70": "March 2018"}]
Data source: Yahoo! Finance. Last increase refers to dividend announcement. * Takes into account adjustments for spinoffs.
There's nothing particularly remarkable about the move that Altria just made. The March 1 announcement simply noted the new dividend rate of $0.70 per share, which amounted to a boost of $0.04 per share or 6% from what it had paid previously. The new dividend will get paid to shareholders of record as of March 15, and final payments will go out on April 10.
What is unusual, though, is the timing of Altria's payout. Thetobacco giant just boosted its dividendsix months ago, with an 8% rise having come back in August. At that time, the company said that it still expected earnings growth of 7.5% to 9.5%, helping it support a dividend increase in the high single digits on a percentage basis. That move allowed Altria to keep pursuing its goal of paying out about 80% of its adjusted earnings in dividends, and it continued a long streak of years in which the Marlboro maker made its annual increases during the summer months rather than doing so early in the year.
Altria didn't give any noteworthy new reasons for changing its timing, simply repeating its intention to target a dividend payout ratio of around 80%. With the increase, Altria has now raised its dividends 52 times in the past 49 years and yields 4.3%.
Image source: Altria Group.
Despite Altria's terse press release regarding the dividend increase, it's easy to speculate that one particular source of funds could have justified the unusual timing of the boost.Tax reformled to new laws in late December, and like many companies, Altria saw huge benefits as a result of the shift in tax policy.
In its fourth-quarter financial report,Altria saidit recorded a $3.35 billion tax benefit, which it said was primarily related to tax reform items. Deemed repatriation taxes on overseas earnings were relatively minimal because of Altria's domestic focus, but the revaluation of deferred tax liabilities had a huge upward impact on the bottom line. In total, those tax-related items worked out to an extra $1.76 per share in earnings in the fourth quarter of 2017.
Taxes should keep helping Altria. With adjusted effective tax rates expected to be in the 23% to 24% range during 2018 -- down from 33.4% in 2017 -- Altria's future savings should pay for its most recent dividend increase, along with the company's new $1 billion stock buyback authorization and other possible future spending.
The big question for Altria isn't whether investors will get another dividend increase but rather when such an increase will come. It's possible that the tobacco giant will simply move its future annual increases to occur early in every year, but I think it's still possible that Altria will do another dividend increase on its normal schedule in August. That would potentially make 2018 one of the best years that dividend investors have seen from Altria.
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Dan Caplingerhas 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 Micron Technology, Inc. Stock Jumped as Much as 12% Higher Today: Shares ofMicron Technology(NASDAQ: MU)rose as much as 12.1% higher on Monday, peaking just after 1 p.m. EDT. At the end of the day, Micron's stock closed 8.8% above Friday's final listing price. Two analyst firms raised their price targets on the memory chip veteran's stock, supported by some remarkably bullish commentary.
Evercore ISI analyst C.J. Muse boosted Micron's target price from $60 to $80 per share, citing a fundamentally different memory market that "absolutely" isn't destined to fight another round of pricing wars.
At Nomura/Instinet, veteran chip analyst Romit Shah moved Micron's price target from $55 to a cool $100 per share. The stock is in the "early stages of another major breakout," in Shah's view. If nothing else, he argues that Micron's shares should gather larger price-to-earnings multiples as investors start to embrace the new industry conditions. As a reminder, Micron is trading at a bargain-basement P/E ratio of 9.3 times trailing earnings today.
Both analysts already held "buy" ratings on Micron's stock. No change there.
Image source: Getty Images.
The bullish firms agree that Micron should be able to protect and even widen its profit margins in both the NAND and DRAM chip sectors, even as shipping volumes are set to increase sharply in the near future. Manufacturing costs are shrinking, Micron's product mix is getting richer due to strong demand for high-end mobile and data center products, and again, the era of constant price wars appears to be over.
As a longtime Micron shareholder myself, these analyst notes echomy own investment thesisin many ways. It's always good to hear independent confirmation of those core business advantages. Moreover, Muse expects Micron to kick off a brand new dividend policy at the upcoming analyst day in late May. That would be news to me, but it's a shareholder-friendly idea anyhow.
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Anders Bylundowns shares of Micron Technology. 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)]
$BTC last 1h [USD] 0.31%
Market last 1h [USD] 0.97%
Gainers last 1h [USD]
$HTML 15.89%
$BCA 9.37%
$RKT 8.32%
Fallers last 1h [USD]
$DTR -19.01%
$BRD -6.62%
$POE -3.05%
Buy #HTML here: https://www.binance.com/?ref=10732262
#bitcoin #binance || The latest T!PSnBYTES- https://paper.li/FustinoBrothers/1505877103?edition_id=699a5910-38b1-11e8-a9f7-0cc47a0d1605 … #bitcoin #education || 2018-04-03 02:00:04 UTC
BTC: $7057.01
BCH: $662.53
ETH: $380.94
ZEC: $195.38
LTC: $118.61
ETC: $13.95
XRP: $0.493 || 04/13 11:00現在(Zaif調べ)
#Bitcoin : 837,010円↓1.65%
#NEM #XEM : 29円↓3.33%
#Monacoin : 378円↓0.53%
#Ethereum : 52,400円↓1.89%
#Zaif : 1円↑0% || #BTC Average: 6974.48$
#Bitfinex - 6890.60$
#Poloniex - 6892.54$
#Bitstamp - 6897.41$
#Coinbase - 6925.00$
#Binance - 6886.01$
#CEXio - 7041.80$
#Kraken - 6880.00$
#Cryptopia - 6856.37$
#Bittrex - 6874.10$
#GateCoin - 7601.00$
#Bitcoin #Exchanges #Price || Ven en bitcoin inclusión financiera https://ift.tt/2Hd4M8w || NewsDRAKE is out! https://paper.li/drakedalfa?edition_id=3fc56420-389a-11e8-9e36-0cc47a0d1609 … #cybersecurity #bitcoin || 02Apr2018 18:00 UTC #Bitcoin #Blockchain status - Last 24h: 158 blocks mined - 1,382,375 BTC output - 154,449 transactions || Warfare and conflict are no longer just about the clash of uniform http://bit.ly/2v96dS6 #Cybersecurity #Bitcoin pic.twitter.com/ZlUAPX9HHj || @KNWtoken Over 6.2 Million KNW Tokens have sold in Stage 2! 25% #KNWtoken Bonus ends April 8th @ 11:59 AM US EST. So, if you haven't bought #KnowledgeToken then buy now before late. For Details ,Visit here : http://knowledge.io #ico #ethereum #crypto #bitcoin #coinomi
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Trend: down || Prices: 9858.15, 9654.80, 9373.01, 9234.82, 9325.18, 9043.94, 8441.49, 8504.89, 8723.94, 8716.79
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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.
|
[Technical Analysis for 2021-09-14]
BTC Price: 47092.49, BTC RSI: 50.68
Gold Price: 1804.70, Gold RSI: 52.59
Oil Price: 70.46, Oil RSI: 55.90
[Random Sample of News (last 60 days)]
Coinbase crushes Q2 expectations, notes Q3 trading volume is trending lower: After the bell today, Coinbase reported another period of impressive results in its second quarter earnings report . During the quarter, Coinbase's total revenue reached $2.23 billion, which helped the company generate net income of $1.61 billion in the three-month period. The company benefited from a one-time line item worth $737.5 million, which stemmed from what Coinbase described as a "tax benefit" from its direct listing earlier in the quarter. This puts us in the odd position of leaning more heavily on the company's adjusted EBITDA metric, a figure that we usually discount, rather than the stricter net income result. This quarter the adjusted metric is actually a bit clearer regarding the company's regular profitability. Coinbase posted adjusted EBITDA of $1.1 billion in the period. The company easily bested expectations, with the market expecting revenues of just $1.85 billion, and adjusted EBITDA of $961.5 million, per Yahoo Finance . Everyone wants to fund the next Coinbase All that's well and good, but the company provided a fascinating set of data for us to peruse that may help us better understand where the crypto economy stands today. Let's get into the details. Trading volume There are two data sets from Coinbase's Q2 that we need. The first deals with monthly transacting users, and overall trading volume: Seeing Coinbase continue to add MTUs in the second quarter was impressive, as was the company's Q2 trading volume result in light of the falling platform asset figure. Quite simply, Coinbase managed to accrete trading volume despite generally falling crypto prices over the time period in question. Or as the company put it, "[d]espite price movements, we saw billions of dollars of net asset inflows and new customers added throughout Q2." The next data set deals with a breakdown of trading volume by source and type: The incremental growth in retail volume from Q1 2021 to Q2 2021 is impressive for a single quarter, frankly, but the pace at which Coinbase added institutional volume in the quarter is even stronger. It's a huge result. Story continues For the more crypto-focused than financials-focused out there, the second set of numbers is even more notable. Ethereum trading volume beat bitcoin trading volume, while "other" was more than twice what bitcoin itself managed. A changing of the guard? The company listed three reasons for why this happened, the second of which is the most interesting. Per the earnings report: [The mix shift was driven by] meaningful growth in Ethereum trading volumes, surpassing Bitcoin trading volumes on Coinbase for the first time driven by growth in the DeFi and NFT ecosystems (where Ethereum is an important underlying blockchain), and increased demand driven by our ETH2 staking product. Basically, the neat stuff that the Ethereum blockchain enables is driving volume in its underlying coin, ether. Bitcoin may be the oldest crypto, but its crown may be starting to rust. Bitcoin remains the largest asset on Coinbase, at 47%, however. Now let's talk revenues. Top line While institutional trading volume was an impressive source of growth for Coinbase, the company's revenue breakdown remained retail-heavy. Here's the data: The transaction revenue growth from Q1 to Q2 speaks for itself, and was a key driver of the company's strong second-quarter aggregate results. But perhaps more notable was the huge differential in subscription and services revenue at the company, growing nearly 100% from $56.4 million in Q1 2021 to $102.6 million in the most recent period. Certainly, Coinbase remains a transaction-led company, but in revenue terms, its third line-item is becoming material. Now, the somewhat bad news. What about Q3 2021? Let's start with how Coinbase describes the start to its third quarter: In July, retail MTUs and total Trading Volume were 6.3 million and $57.0 billion, respectively, as crypto asset prices and crypto asset volatility declined significantly relative to Q2 levels. August month-to-date, retail MTUs and Trading Volume levels have slightly improved compared to July levels but remain lower than earlier in the year. As a result, we believe retail MTUs and total Trading Volume will be lower in Q3 as compared to Q2. In contrast, Q2 MTUs were 8.8 million and total trading volume, pro-rated for each month of the quarter, came to $154 billion. Therefore, Coinbase had a far smaller July than what it managed on a monthly basis in Q2. That August is trending better than July is a small consolation, but it does appear that Coinbase will be a smaller business in Q3 than it was in Q1 or Q2. If you were curious why Coinbase's stock is not flying in the wake of its strong Q2 results, this is likely why. Of course, any serious investor in a crypto exchange is aware of how variable results can be in the sector. So a decrease after a few periods of strong results is not a huge lump to swallow. Coinbase is worth $267.55 per share in after-hours trading as of the time of writing, off around three-quarters of a percent. That's not even a haircut. All told, Coinbase's second quarter was excellent. || Crypto Market Retakes $2 Trillion Market Cap Amid Bitcoin Gains: (Bloomberg) -- The total market value of cryptocurrencies rose above $2 trillion again as Bitcoin continued to climb and the likes of Cardano, XRP and Dogecoin advanced as well. Crypto’s market value rose to $2.06 trillion on Saturday, according to CoinGecko, which tracks more than 8,800 coins. Bitcoin reached as high as $48,152, the highest level since May 16, as it showed staying power above its 200-day moving average. It wasn’t just Bitcoin holding up the overall market advance, however. As of 1 p.m. in Hong Kong on Sunday, Cardano -- now the third-ranked cryptocurrency after Bitcoin and Ether -- was up 47% over the past seven days. Binance Coin gained 14%, XRP 61% and Dogecoin 18% over the same period, according to CoinGecko pricing. “Bitcoin continues above its critical 200-day moving average,” Fundstrat strategists wrote in a note Friday. “Also on our radar is Cardano (ADA), which after signaling smart contracts are soon to hit the platform earlier this week is up” significantly. Read more: Developer Behind Surging Cardano Token Talks Crypto, Blockchain The moves higher came even after the cryptocurrency industry failed to win a change to crypto tax reporting rules in a U.S. infrastructure bill, leaving intact language for broad oversight of virtual currencies in the legislation that passed the Senate on Tuesday. Read more: Crypto Lobbyists Falter in Bid to Fix Broad Tax Provision “The price of Bitcoin was surprisingly resilient in the wake of the news,” wrote NYDIG Global Head of Research Greg Cipolaro in a note dated Saturday. “We interpreted this price action as extremely bullish,” and “we think the recognition of the crypto industry by lawmakers was ultimately a legitimizing event, one that should give investors comfort that this industry is here to stay.” More stories like this are available on bloomberg.com Subscribe now to stay ahead with the most trusted business news source. ©2021 Bloomberg L.P. || Shiba Inu Tries To Settle Above The Resistance At $0.000009: Shiba Inufaced resistance near $0.0000093 and pulled back while Bitcoin moved below the support at $46,000.
Bitcoindid not manage to settle above the resistance level at $48,000 and pulled back towards the support level at $46,000 as some traders decided to take profits off the table after the recent upside move.
The next support level for Bitcoin is located at $44,000. If Bitcoin gets to the test of this level, other cryptocurrencies will likely find themselves under pressure.
However, it should be noted that Bitcoin Dominance, which measures the market capitalization of Bitcoin as a percentage of total crypto market capitalization, continues to fall, which indicates that interest for altcoins is growing. This is bullish for Shiba Inu.
Meanwhile,Dogecoin, which often has an impact on Shiba Inu dynamics, has recently made an attempt to settle below the support at $0.3150 but failed to develop sufficient downside momentum and moved back to the resistance level at $0.33. In case Dogecoin manages to settle above this level, it will head towards the next resistance level at $0.35 which will be bullish for Shiba Inu.
Shiba Inu managed to settle above the resistance level at $0.0000085 and is trying to settle above the next resistance at $0.000009. RSI is in the overbought territory, and the risks of a pullback are significant.
In case Shiba Inu settles above $0.000009, it will get to another test of the resistance level at $0.0000093. This resistance level has already been tested several times and proved its strength.
A successful test of the resistance at $0.0000093 will push Shiba Inu towards the resistance at $0.0000096. If Shiba Inu gets above $0.0000096, it will head towards the psychologically important resistance level at $0.000010. A move above this level will open the way to the test of the resistance at $0.00001050.
On the support side, a move below $0.000009 will push Shiba Inu back towards the support level at $0.0000085. In case Shiba Inu declines below this level, it will head towards the next support at $0.000008.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
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• EUR/USD Daily Forecast – U.S. Dollar Gains More Ground Against Euro || Bitcoin Well Announces Commencement of Trading on TSX Venture Exchange under Ticker BTCW and International Expansion with Acquisition of UK-Based ATM Operator: EDMONTON, Alberta, July 28, 2021 (GLOBE NEWSWIRE) -- Bitcoin Well Inc. (Bitcoin Well or the Company), a company offering convenient, secure and reliable ways to buy, sell and use bitcoin through a trusted Bitcoin ATM network and suite of web-based transaction services, is pleased to announce that, effective at the opening of markets on Friday, July 30, 2021, the common shares of Bitcoin Well will commence trading on the TSX Venture Exchange (the "TSXV") as a Tier 2 Technology Issuer under the symbol " BTCW ". In addition, we have now expanded into international markets through the acquisition of a privately-held, UK-based ATM operator, Paradime LTD o/a AlphaVend. New Listing Details Prior to and in connection with the listing of Bitcoin Well common shares on the TSXV, our Filing Statement dated May 17, 2021 has been filed with and accepted by the TSXV and filed on SEDAR under the Company's profile. We announced the closing of our arms length qualifying transaction (the Transaction) on June 14, 2021, along with the conversion of the subscription receipts (the Subscription Receipts) issued in connection with the Companys previously announced $7.0 million private placement offering (the Offering). The TSXV issued its final exchange bulletin confirming the completion of the Transaction on July 28, 2021. We are thrilled to begin this next phase of evolution for Bitcoin Well as we embark on life as a public company. We believe our listing will help to raise the profile of Bitcoin Well for new prospective investors and other market participants, who can also learn more about bitcoin and its role in aiding individuals to achieve financial sovereignty, said Adam OBrien, CEO of Bitcoin Well. Through our non-custodial model, we offer bitcoiners a secure and safe platform to buy and sell bitcoin, and will continue to pursue expansion of our Bitcoin ATM network, while also seeking to enhance our service offerings as a means of supporting our growth trajectory. Story continues Current and prospective investors and other interested parties can access investor-related information for Bitcoin Well, including a current corporate presentation, through the following link: https://investors.bitcoinwell.com. Paradime LTD Acquisition Details By acquiring Paradime LTD o/a AlphaVend currently the second largest Bitcoin ATM operator in the UK Bitcoin Well now owns and operates 26 machines across England, Scotland and Wales. This offers an established presence in key metropolitan centres such as London, Manchester and Glasgow. Given the Paradime LTD assets are currently operating under a temporary registration through the provisional license, Bitcoin Well will cease UK operations should any licensing changes occur that would result in non-compliance with regulations. This type of acquisition supports our goal of enabling the purchase and sale of bitcoin in the fastest and safest way possible and sets the stage for further growth in Europe and around the world. As there are more than 35 existing operators in the UK region, Bitcoin Well can continue to evaluate potential acquisition opportunities. We look forward to applying our marketing approach and operational processes to capture efficiencies in this exciting new market. In accordance with the terms of the acquisition agreement, the new UK subsidiary of Bitcoin Well is currently seeking to secure a permanent license and certain approvals from the Financial Conduct Authority in the UK. For additional details regarding the acquisition, please see the Companys Filing Statement dated May 17, 2021, accessible on SEDAR. Update to Escrowed Shares Bitcoin Well also provides a correction to the number of shares subject to Tier 2 - Surplus Escrow that was originally reported within our June 10, 2021 press release to 73,992,191 common shares, which updates and supersedes the originally reported 76,992,161 common shares. About Bitcoin Well Bitcoin Well offers convenient, secure and reliable ways to buy and sell bitcoin through a trusted Bitcoin ATM network and suite of web-based transaction services. The Company generates revenue and based on managements assessment of publicly-available data, will become the first publicly traded Bitcoin ATM company, with an enterprising consolidation strategy to deliver accretive and cost-effective expansion in North America and globally. As leaders of the longest-running, founder-led Bitcoin ATM company in Canada, management of Bitcoin Well brings deep operational capabilities that span the entire value chain along with access to proprietary, cutting-edge software development that supports further expansion. Sign up for our newsletter and follow us on LinkedIn , Twitter , YouTube , Facebook , TikTok and Instagram to keep up to date with our business. Contact Information For investor information, please contact: Bitcoin Well 10142 82 Avenue NW Edmonton, AB T6E 1Z4 bitcoinwell.com investors@bitcoinwell.com Adam OBrien , President & CEO or Dave Bradley , Chief Revenue Officer Tel: 1 888 711 3866 IR@bitcoinwell.com For media queries and further information, please contact: Karen Smola , Director of Marketing Tel: 587-735-1570 k.smola@bitcoinwell.com Reader Advisory / Forward-Looking Statements Statements in this press release regarding Bitcoin Well which are not historical facts are forward-looking statements that involve risks and uncertainties, such as the timing of expansion plans and activities, the obtaining of a permanent license and certain approvals from the Financial Conduct Authority in the UK, allocation of the proceeds from the private placement as well as various business objectives. 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. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties such as the risk that the permanent license from the Financial Conduct Authority in the UK is not obtained. Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as: (i) adverse market conditions; (ii) the need for additional financing; and (iii) changes in laws and regulations. Except as required by law, Bitcoin Well does not intend to update any changes to such statements. || Cardano Price Hits All-Time High, Overtakes Binance Coin as Third-Most Valuable Crypto: Cardano (ADA), the native cryptocurrency powering Charles Hoskinson’s public blockchain, has hit a fresh all-time high and has surpassed Binance’s native token in total market capitalization. As of press time, ADA’s market capitalization stands at $80.7 billion compared to Binance coin’s (BNB) $72.1 billion, data from provider Messari shows. ADA’s price is up a staggering 19% on the day and is continuing its drive from Thursday’s run where it came close to setting fresh price highs. The crypto has been on a tear in recent weeks and is up 150% from July 21 lows of $1. Related: Bitcoin Breaks $48K for First Time Since May ADA is currently changing hands for around $2.49 after reaching its record high of $2.55 during the Asia trading hours. Strong levels of daily buyer volume – the most since the end of May – are matching price action on the way up signaling demand in the strength and conviction of ADA’s trend. It would appear the Alonzo upgrade is having a significant impact on investor sentiment. The upgrade seeks to usher in smart-contract functionality and address what critics have described as one of the network’s most glaring deficiencies. The upgrade is slated for Oct. 1, though some are betting it will overshoot and release sometime later. Related: Bitcoin Jumps 6% Edging Above $47K on Strong Buyer Demand Cardano has been through multiple developmental phases including the foundational phase Byron and decentralized phase Shelley which saw the introduction of delegated staking. According to the Cardano roadmap , smart contracts will go live when the project enters its third era, Goguen. Cardano was founded by Ethereum co-founder Charles Hoskinson in 2017 and aims to directly compete with Ethereum and other decentralized application platforms as a more scalable, secure and efficient alternative. Related Stories Cardano Nears All-Time High as Investors Await Smart Contracts Market Wrap: Bitcoin Expected to Hold Support Above $45K || U.S. Dollar Index (DX) Futures Technical Analysis Momentum Shifted to Down with Reversal Top Confirmation: The U.S. Dollar is inching lower against a basket of major currencies early Monday after posting a potentially bearish closing price reversal top the previous session. The safe-haven U.S. Dollar slipped from a 9-1/2 month high on Friday, as risk appetite improved with equities gaining and benchmark Treasury yields higher, although the near-term outlook for the greenback remained upbeat. At 01:37 GMT, September U.S. Dollar Index futures are trading 93.425, down 0.083 or -0.09%. The greenback remained supported overall by concerns that the coronavirus Delta variant could derail the global economic recovery just as central banks begin to reverse COVID-19 pandemic-related stimulus. Last week, the dollar was supported by the minutes of the Feds July meeting, released on Wednesday that showed officials largely expect to reduce their monthly bond buying later this year. Daily Swing Chart Technical Analysis The main trend is up according to the daily swing chart, however, momentum shifted to the downside early Monday with the confirmation of Fridays closing price reversal top. This doesnt change the main trend, but it could trigger a 2-3 day counter-trend sell-off. A trade through 93.750 will negate the closing price reversal top and signal a resumption of the uptrend. The main trend will change to down on a trade through 92.470. The minor range is 92.470 to 93.750. Its 50% level at 93.110 is the primary downside target. Since the main trend is up, buyers could come in on the first test of this level. Daily Swing Chart Technical Forecast The direction of the September U.S. Dollar Index on Monday is likely to be determined by trader reaction to 93.455 and 93.510. Bearish Scenario A sustained move under 93.455 will indicate the presence of sellers. If this move creates enough downside momentum then look for a move into the minor pivot at 93.110. Look for a technical bounce on the first test of this level. Taking it out could trigger the start of a steep break with 92.495 92.470 the next major target. Story continues Bullish Scenario A sustained move over 93.510 will signal the presence of buyers. This could trigger a rally into 93.440. Overtaking this level will indicate the buying is getting stronger with 93.750 the next likely upside target. Side Notes Watch for choppy, two-sided price action as traders prepare for Jackson Hole and a possible clarification of the Feds tapering plan. For a look at all of todays economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: Stock Index Futures Play It Cautious Heading Into Monday U.S. Dollar Index (DX) Futures Technical Analysis Momentum Shifted to Down with Reversal Top Confirmation Bitcoin Slams $50,000, First Time Since May The Crypto Daily Movers and Shakers August 23rd, 2021 Price of Gold Fundamental Daily Forecast Patient Traders Waiting for Fed Tapering Clarification Private Sector PMIs Put the EUR, the GBP, and the Greenback in the Spotlight || GBP/USD Daily Forecast – Test Of Support At 1.3860: GBP/USDis trying to settle below the support at the 20 EMA at 1.3860 while the U.S. dollar is flat against a broad basket of currencies.
The U.S. Dollar Index settled below the 93 level and is trying to get to the test of the nearest support level at 92.80. In case the U.S. Dollar Index declines below this level, it will gain downside momentum and head towards the support at the 20 EMA at 92.55 which will be bullish for GBP/USD.
UK has recently released preliminaryGDP Growth Ratereport for the second quarter. The report indicated that GDP increased by 4.8% quarter-over-quarter, in line with the analyst consensus. On a year-over-year basis, GDP grew by 22.2%.
Foreign exchange market traders also had a chance to take a look at UKIndustrial ProductionandManufacturing Productionreports for June. Industrial Production declined by 0.7% month-over-month while analysts expected that it would grow by 0.3%. Manufacturing Production grew by 0.2% month-over-month compared to analyst consensus of 0.4%.
GBP/USD failed to settle above the resistance at the 50 EMA at 1.3880 and is trying to settle below the support at the 20 EMA at 1.3860. In case GBP/USD manages to settle back below the 20 EMA, it will gain downside momentum and head towards the next support level which is located at 1.3835.
A move below the support at 1.3835 will open the way to the test of the next support at 1.3800. If GBP/USD declines below 1.3800, it will head towards the support at 1.3780.
On the upside, GBP/USD needs to settle above the resistance at the 50 EMA at 1.3880 to have a chance to develop additional upside momentum in the near term. RSI is in the moderate territory, and there is plenty of room to develop upside momentum in case the right catalysts emerge.
A successful test of the resistance at 1.3880 will push GBP/USD towards the next resistance at 1.3900. If GBP/USD moves above this level, it will head towards the resistance at 1.3920.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
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• Traders bet against sterling for the first time since December
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FTSE 100-listed Unilever has kicked-off the sale of large parts of its tea business, which could be valued at about £4bn, reported Bloomberg.
The news agency has more:
Unilever has reached out to potential suitors and is expecting first-round bids in September. Deliberations are ongoing and there’s no certainty it’ll decide to proceed with a sale.
The sale does not include Unilever’s tea units in India and Indonesia or its partnerships in the ready-to-drink tea market. The rest of the business could draw offers from private equity firms.
It is also considering an initial public offering of the tea business, or a partnership, the company said in a first-half results statement in July.
In January 2020, Unilever said it was starting a strategic review of its tea business that could result in a partial or full sale. Tea demand has suffered in recent years amid a shift to artisan coffee.
The tea business has drawn the interest in the past from buyout firms including Advent International, Bain Capital, Blackstone, Cinven and KKR.
Boston-based private equity firm Bain Capital has won a months-long battle to acquire Rolls-Royce's ITP Aero division - a Spanish aircraft engine supplier - for about €1.6bn (£1.4bn), according to Spanish newspaper Expansión.
It said Bain will team with Spanish construction engineering firm Sener Grupo de Ingenieria. It comes after previous reports the auction had narrowed to Bain and London-based Cinven, which were both searching for Spanish partners to help get government backing for a deal.
Rolls-Royce has been contacted for comment.
Spain's Sener is a former owner of ITP Aero, having co-founded the division in 1989 with Rolls to make engines for the Eurofighter Typhoon military jet. ITP also worked with Rolls to develop turbines used on Airbus and Boeing wide-body aircraft.
In 2016, Sener sold its 53pc stake in the operation back to Rolls for €720m. Since then, demand for larger aircraft powered by Rolls engines has plummeted, forcing the company to raise cash through selling shares and unloading assets. On Tuesday it agreed to sell Bergen Engines to Langley Holdings for €63m.
Oil continued to decline throughout today, for a third day, due to the coronavirus spread in China (a key importer - see post at 10:39am), and a report that showed a surprise build in US crude inventories.
American crude supplies increased by 3.63m barrels, the biggest gain since March, according to a weekly report from the Energy Information Administration. The industry-funded American Petroleum Institute and analysts polled by Bloomberg had predicted draws.
West Texas Intermediate futures slumped as much as 3.4pc.
The head of America’s markets regulator has called cryptocurrencies a “Wild West” afflicted by fraud and scams in the clearest sign yet of a stricter approach towards Bitcoin and other digital coins,reports James Titcomb.
Gary Gensler, the new chair of the Securities and Exchange Commission, told a conference that “this asset class is rife with fraud, scams and abuse in certain applications” and that called for stricter oversight.
The comments are a major blow to cryptocurrency supporters’ hopes that Mr Gensler, who taught a university course on digital currencies before joining the regulator, would adopt a light-touch approach or seek to bring Bitcoin into the fold of other financial assets.
“Right now, we just don’t have enough investor protection in crypto. Frankly, at this time, it’s more like the Wild West,” Mr Gensler said at the Aspen Security Forum.
“There’s a great deal of hype and spin about how crypto assets work. In many cases, investors aren’t able to get rigorous, balanced, and complete information. We need additional congressional authorities to prevent transactions, products and platforms from falling between regulatory cracks."
Mr Gensler has been widely expected to attempt to fill a regulatory vacuum around Bitcoin, whose value surged to more than $60,000 earlier this year before recently falling by as much as half.
Traders have speculated about whether he might attempt to legitimise the technology by pushing for guidelines around how banks and investors can hold it, or push for greater controls.
Bitcoin’s price was flat after Mr Gensler’s speech, rising by around 3pc to $39,301 later on Wednesday, as Google started accepting cryptocurrency adverts for the first time in three years.
The John Lewis Partnership said it will raise lorry driver salaries by £5,000 as the industry continues to face damaging worker shortages.
The group - which runs the John Lewis department store arm and Waitrose supermarket chain - said Large Goods Vehicle (LGV) drivers employed by bpth brands will receive a pay rise of around £2 an hour in their base pay across all regional and national distribution sites.
Around 900 people will benefit from the pay increase.
Mark Robinson, director of supply chain at the partnership, said: "We're responding quickly to the national driver shortage by ensuring our drivers are paid competitively and by investing in training for the future."
Michael Hewson, chief market analyst at CMC Markets UK, comments:
Robinhood Markets has also carried on from where it left off yesterday, with another huge surge, building on its 24pc gain yesterday, with an 80pc surge above $80 a share before sliding back below $70 a share.Last week Cathie Woods ARK Fintech Innovation loaded up on over 2.5m shares while adding another 90k yesterday, which may have prompted retail traders to pile in too given that retail volume surged soon afterwards.While correlation doesn’t equal causation it's hard to see what other explanation there could be as retail interest in it grows.Given that the company touted itself as a vehicle for democratising financial markets it was a little surprising how little enthusiasm there was for the IPO in the initial days after the float. That lack of enthusiasm appears to have gone away if the events of the last couple of days are any guide.
Shares in stock trading app Robinhood skyrocketed as much as 80pc in early trading on Tuesday, forcing US markets to halt buying amid fears of another speculative bubble, reports my colleagueMatthew Field.
After listing last Thursday at a valuation of around $32bn, shares in Robinhood slipped on their first day of trading. But the company has since surged to a market cap of over $50bn. Its shares jumped as high as $85, up from their float price of $38.
Robinhood was at the centre of a regulatory storm in January this year as speculative investors piled into so-called "meme stocks" such as the video game retail GameStop. The otherwise struggling brick and mortar chain surged in value as amateur investors in forums such as Reddit bet hundreds of millions of dollars on the company.
Vlad Tenev, Robinhood's founder, was hauled before Congress to defend his company's enabling of en masse, high risk trading, with many users buying complicated products and using leverage to pump up the value of their favoured stocks.
Robinhood courted retail investors during its listing, offering them the option of buying up shares in the company through its app ahead of going public.
As well as retail buyers, Robinhood has attracted investment from stock picker Cathy Wood's Ark Invest, which took out a position worth around $4.2m on Tuesday.
Robinhood's shares have since fallen back, but are up around 25pc in trading on Wednesday. They remain up nearly 60pc on its initial public offering price.
Challenger energy supplier Octopus has acquired a Valencia-based green startup called Umeme, which will form the foundation of new subsidiary, Octopus Energy Spain.
Octopus, which currently operates in 11 countries across four different continents, said it would invest up to £60m to fuel the company's Spanish expansion.
Octopus has proven one of the biggest success stories in Britain's energy supply sector in recent years. Late last year the company was valued at £1.5bn.
Ryanair has credited the rollout of the EU's Covid-19 certificate for helping the airline more than double passenger numbers in July.
The group said it carried 9.3m passengers last month, up from 4.4m a year ago and 5.3m in June.
Its load factor - a measure of how well airlines fill their planes - improved to 80pc from 72pc in June as it ran more than 61,000 flights.
It put the improved passenger numbers down to the launch of the EU Covid certificate scheme on July 1, which allows those who have been vaccinated, tested negative, or recovered from coronavirus to travel within the bloc.
The FTSE 100 has lots its upward momentum and is currently treading water at around 7,137.84 points, up 0.5pc compared to yesterday's close.
The index is now being lead by Ladbrokes owner Entain. The betting firm's shares have surged 5.7pc today to £19.09.
Wall Street opened lower this afternoon, dragged down over concerns of slowing economic growth and rising Covid-19 fears.
Markets have bounced between optimism and pessimism in the past few weeks, driving higher on signs of economic growth and lower on concerns the spreading delta variant could derail the world recovery.
The S&P 500 fell 0.27pc while the Dow sank 0.49pc as stocks linked to the economy pulled them lower. Energy sector stocks dropped 2.2pc on average due to lower oil prices, while banking stocks slipped 0.8pc over weakness in bond yields and the drop in July payrolls growth.
Tech stocks sank the least as traders cycled towards such so-called growth stocks. Robinhood Markets surged 40.3pc over interest from star fund manager Cathie Wood despite its weak public debut last week, while General Motors sank over 6pc despite coming back to profit in its second quarter.
"The drop in bond yields is like a canary in the coal mine and is for now helping growth stocks, while large cyclical stocks are showing signs of weakness maybe because investors are questioning the passage of the huge infrastructure package," said Sam Stovall, chief investment strategist at CFRA Research.
Investors now await services sector data later this afternoon.
The US Treasury has said it could begin to reduce sales of government debt as soon as November, though its upcoming quarterly auction of long-term securities will remain at a record size of $126bn.
It will sell $58bn in three-year notes, $41bn in 10-year notes and $27bn in 30-year bonds next week, unchanged from the previous quarter.
America should need to borrow less as the economy recovers and the need for government-funded relief programmes subsides.
Still, the Treasury said sales of inflation-protected securities will rise further, amid “solid demand.”
“Continuing current issuance sizes and patterns may provide more borrowing capacity than is needed to address borrowing needs over the intermediate-to-long term,” the Treasury added.
The US 10-year Treasury yield remained lower, at 1.14pc, following the announcement.
“This is the only logical outcome given the information they have,” Jefferies economist Thomas Simons toldBloombergof the plans for cutting auctions from November. “Without more clarity on infrastructure or the debt ceiling, they can’t make any additional changes.”
US stock markets are set for a drop when they open shortly, following that weak US employment data.
America added just 330,000 extra jobs to July payrolls, a number far less than half of the total economists had expected.
The S&P 500 is set to retreat from its record high by 0.36pc while the Dow is set to drop 0.42pc lower. The tech-heavy Nasdaq will slip by 0.14pc too, according to the latest futures prices.
Netflix, Amazon and Facebook were among the few pre-market risers as traders eyed growth stocks as a safer bet than economy-linked firms in areas such as finance and energy amid fears of a slowing economic recovery.
However, traders are waiting for a measure of US services sector activity expected to show it expanded from 60.1 in June to 60.5 last month, which would show a partial recovery from staff shortages and a lack of raw materials.
HSBC has become the latest bank to boost pay for junior investment bankers in the US, as the industry wrestles with staff burnout amid one of its busiest years for deals.
The London-headquartered bank is upping salaries for first-year analysts in its investment bank from $85,000 to $100,000, Financial News reported earlier.
Goldman, Credit Suisse Group, Morgan Stanley, Citigroup, Deutsche Bank and JPMorgan Chase & Co are among those increasing wages as the competition for talent heats up.
Banks are also trying to curb the industry’s work-till-you-drop culture, with firms promising to better enforce policies against weekend work.
US companies added far fewer jobs than expected in July, indicating ongoing hiring obstacles despite broader improvement in the economy.
Businesses’ payrolls increased by 330,000 last month, the smallest gain since February, following a revised 680,000 gain in June, according to ADP Research Institute data released today. Economists surveyed by Bloomberg had forecast a 690,000 gain in the latest month.
“July payroll data reports a marked slowdown from the second quarter pace in jobs growth,” Nela Richardson, ADP’s chief economist.
“Bottlenecks in hiring continue to hold back stronger gains, particularly in light of new Covid-19 concerns tied to viral variants.”
Service-provider employment increased 318,000 in July. Payrolls at leisure and hospitality businesses rose 139,000 during the month, also the smallest advance since February.
ADP’s payroll data represent firms employing nearly 26 million workers in the U.S.
The battle to run the National Lottery for the next decade has been delayed as a result of the pandemic travel restrictions, reportsOliver Gill.
He writes:
Camelot, which has run the lottery since inception in 1994, has been handed a six-month extension and will now run the draw until 2024, the Gambling Commission announced.Bidders were due to deliver their final presentations to the regulator in September. However, it is understood that after some complained that they may not be able to appear in person due to Covid restrictions, the Gambling Commission agreed to push the timetable back.Presentations will now take place in October, with the regulator taking an additional six weeks to come to a final decision in February.
Read Oliver's full story here.
Private equity firm Carlyle has been granted more time to consider whether to pursue a deal with London-listed Vectura, after its earlier approach was gatecrashed by Marlboro maker Philip Morris, reportsHannah Boland.
Carlyle's offer had included conditions which required meetings to have been held on the deal by August 3, or falling outside of UK takeover codes.
Carlyle said on Wednesday that it had agreed with the Vectura board to extend that deadline to August 24, a move which will give it more time to weigh up whether to walk away or increase its offer.
It comes after an agreed takeover between the pair was scuppered by Philip Morris, which trumped Carlyle's £958m offer for Vectura with a £1bn approach.
Vectura's board had initially recommended shareholders accept Carlyle's offer, but later withdrew that recommendation in favour of the PMI offer.
Chairman Bruno Angelici said: "We recognise the material increase in the price offered to shareholders under the acquisition when compared with the Carlyle offer and have accordingly recommended the acquisition to shareholders."
Carlyle and Vectura declined to comment.
It follows questions from health organisations over the Vectura and PMI deal, with concerns centred around the idea of a tobacco company buying a business whose technology is used in NHS inhalers.
General Motors said today that it had swung to a second-quarter profit of $2.8bn, compared to a $806m loss of in the same period in 2020 when the pandemic shuttered its operations.
The company, which owns brands including Chverolet and Buick, suffered an $800m hit from the recalls of its Chevrolet Bolt electric vehicle. Last month, GM recalled the model for a second time due to concern about a potential battery defect that can cause fires.
Despite that, the company raised its full-year forecast for pre-tax profits to between $11.5bn and $13.5bn, from the previous $10bn-$11bn range.
HousebuilderTaylor Wimpeyis still leading gains on the FTSE 100 this afternoon (up 3pc).
Close behind wasLegal & General(up 2.7pc) after the insurer hiked its shareholder dividend payout as it saw half-year earnings rebound back above £1bn.
Betting businessesEntainandFlutteralso rose by more than 2pc each,
At the other end of the index,Just Eatwas trailing (down 2pc) andFresnilloshares also slid (down 1.8pc) as the miner pared back gains made yesterday after its interim profit jumped on higher metal prices.
US stock futures wavered today, ahead of earnings reports from Uber, Ford, General Motors and Costco which are expected after markets close.
The Dow futures dipped 0.13pc while S&P 500 futures fell 0.1pc. Nasdaq Futures however inched 0.1pc higher.
Concerns over China’s gaming and technology clampdown eased, after Chinese state media toned down their criticism of the industry. As a result, the travel and leisure sector outperformed as shares of online gaming companies recovered.
Japan's SoftBank has taken a $5bn (£3.6bn) stake in one of the world's largest drugmakers Roche, increasing its exposure to the pharmaceutical sector in the wake of the pandemic, reports my colleagueHannah Boland.
Bloomberg data showed SoftBank has become one of Roche's largest backers, building its stake in the company at a time when Roche's shares have hit record highs.
The Swiss company is now worth just over $312bn, with its shares having risen 18pc this year.
According to Bloomberg, SoftBank is interested in the potential for Roche's data-based drug discovery division, which it sees as currently undervalued.
It comes as SoftBank broadens its exposure to biotech and life sciences, having previously invested in names such as Sana Biotechnology and Pacific Biosciences.
In the UK, it has invested in Oxford's Exscientia, a drug discovery company which uses artificial intelligence to develop medicines.
Roche's largest backer is the Hoffmann-La Roche family, which own around 50pc of the business, with rival Novartis also a large shareholder in the business.
Roche is among the pharma companies to have worked on Covid-19 tests during the pandemic - something which helped spur sales in its diagnostics unit more than 50pc higher in the first half of the year.
It has also developed a Covid-19 antibody test, which was last year approved by Public Health England. Roche and SoftBank did not immediately respond to requests for comment.
Hitachi has struck a €1.7bn (£1.5bn) deal to buy part of a French engineering company that is expected to play a key role in the building of HS2, reportsOliver Gill.
The Japanese conglomerate is to buy Thales’ transportation arm as it tightens its grip on a slew of lucrative contracts to build the near-£100bn train line.
Hitachi and joint venture partner Bombardier are set to be awarded a £2.8bn contract to build HS2’s trains.
The award, subject to a legal challenge by rival Siemens, follows weeks of turmoil on Britain’s railways after cracks were found on Hitachi express trains running from London to Scotland and Wales.
Thales makes more money from aerospace, defence and security operations. The Sunday Telegraph revealed last month that the French blue-chip had put its transport arm up for sale.
The division is hoping to win contracts worth hundreds of millions of pounds from HS2 to deliver electronic signalling, configure high voltage power lines and information screens for passengers.
Bosses at the French firm sought to play down the prospect of a sell-off a few weeks ago. “Thales still considers rail signalling an attractive market,” a spokesman said.
But today, Thales’ Philippe Keryer said: “After discussions with key market players, Thales has selected the best industrial partner to ensure a successful long term development of its ground transportation business.”
Two of Britain's biggest holiday park operators are merging as Away Resorts attempts to buy rival Aria,according to Sky News.
Aria Resorts operates 14 sites in the UK, including Retallack Resort & Spa in Cornwall and The Bay Colwell on The Isle of Wight.
Sources told Sky that Away, which was recently acquired by CVC Capital Partners, had agreed to buy Aria from investment firm Angelo Gordon.
Sky said the deal could be confirmed as early as today.
Petrol prices have surged to an eight-year high of 135.13p per litre, a level not seen since September 2013, according to the RAC.
The latest RAC Fuel Watch data showed that 3.4p was added to a litre of petrol in July, the ninth straight month of price rises and the largest rise in the price of unleaded since January.
Diesel also climbed 2.7p to cost an average of 137.06p per litre - its highest price since 2014.
RAC fuel spokesperson Simon Williams said:
Right now it’s hard to see what it will take for prices to start falling again. While we’re not past the pandemic by any means, demand for oil is likely to continue to increase as economic activity picks up again, and this is likely to have the effect of pushing up wholesale fuel prices, costs which retailers are bound to pass on at the pumps.Unless major oil producing nations decide a new strategy to increase output, we could very well see forecourt prices going even higher towards the end of the summer.
The City of London is struggling more than other UK office districts to lure back workers to the office, said the boss of one of the UK's largest insurers and investors.
Speaking on Bloomberg TV, Nigel Wilson, chief executive officer of Legal & General Group, said since lockdown restrictions were eased, other centres were showing greater signs of life than the capital’s main financial districts.
Employers will have to step up efforts in the “next few years” to refill their offices, he added.
“The challenge for us that we have in the UK is how do we get people back to working in the City,” Wilson said. “If you travel around the rest of the country, there is a lot more economic activity going on in the core areas within those cities.”
L&G has made regional regeneration a key part of its investment thesis, and hasn’t been “long” central London office buildings for many years, Wilson said.
He was speaking after L&G released half-year results, which saw the firm’s return on equity jump 22pc versus 6.3pc a year earlier thanks to investments in real assets.
Here's the daily round-up from The Telegraph's Money team:
• Number of divorcees forced to share pensions falls to 10-year low:Pensions values up 70pc in five years and should be a top priority in any split
• Britain’s hotspots for jobs where wages are set to rise:Job vacancies are surging and wages will rise as a result
• 'Grandma doesn't know I'm gay and would cut me out of her will if I told her. Should I keep it a secret?'Moral Money: Should our reader keep it a secret to get his inheritance?
Oil is dropping again, for a third straight day, as concern grew that the fast-spreading outbreak in key importer China could curb demand.
Brent was down 5.2pc on the beginning of the week to trade near $72 per barrel.
West Texas Intermediate also edged lower to trade close to $70 a barrel after sinking 4.6pc over the first two days of the week.
The variant has been detected in nearly half of China’s 32 provinces within just two weeks. At least 46 cities have advised residents not to travel unless it’s absolutely necessary.
However, support for prices came from signs of increasing tightness in the US market.
Crude stockpiles fell 879,000 barrels last week, while gasoline holdings dropped by 5.75m barrels, according to people familiar with inventory data from the industry-funded American Petroleum Institute. Official numbers are due later Wednesday.
Britain has been granted 'dialogue partner' status by the Association of Southeast Asian Nations, a joint communique issued by the group said.
"We agreed to accord the United Kingdom the status of Dialogue Partner of ASEAN in view of its individual relationship with ASEAN as well as its past cooperation and engagement with ASEAN when it was a member of the European Union," the communique said.
ASEAN members are: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.
Becoming a dialogue partner gives Britain high-level access to ASEAN summits. Britain has been seeking the status as part of its post-Brexit policy shift to focus diplomatic and trade towards Asia and the Indo-Pacific and away from the European Union.
Tim Moore, economics director at IHS Markit, which compiles the survey, said:
July data illustrates that recovery speed across the UK economy has slowed in comparison to the second quarter of 2021. More businesses are experiencing growth constraints from supply shortages of labour and materials, while on the demand side we've already seen the peak phase of pent up consumer spending.The full easing of pandemic restrictions appears to have helped limit the overall loss of momentum towards the end of July. At 59.6, the PMI reading for services output was much stronger than our earlier 'flash' figure of 57.8 in July, largely due to the final index covering an extra five working days since 'freedom day'.Any re-acceleration of growth in August looks unlikely, however, as new orders increased at a much-reduced pace at the start of the third quarter. Moreover, business expectations softened again during July, with UK firms the least optimistic about the growth outlook since January. Survey respondents cited worries about recruiting staff to meet business expansion plans and some suggested that escalating costs would hinder the recovery.
Duncan Brock, Group Director at the Chartered Institute of Procurement & Supply, said:
With new orders the weakest since February, demand in the services sector appears to be waning along with business optimism as supply and staff constraints impacted on activity last month.Unfilled vacancies due to skills shortages and low stocks at suppliers meant further gains were obstructed and backlogs of work increased. Adding to capacity pressures, the relentless rise in input cost inflation to its highest for a quarter of a century meant businesses were paying more for wages, transport and food, and consumers were beginning to bear the brunt with onward price inflation the most elevated since the survey began in 1996.We suspect the best of the post-pandemic recovery could be behind us, especially if higher leisure and hospitality costs diminish appetite for consumer spending. Consumer Price Inflation reached 2.4pc in June, surpassing the 2pc target set by the Bank of England, and it is likely to go higher in the coming months as salary increases add pressure on prices through the summer.
The post-lockdown bounce-back for British services firms slowed again in July and inflationary pressures continued their surge to hit a new record high, a survey showed today.
The IHS Markit/CIPS Purchasing Managers' Index (PMI) for the sector edged down to 59.6 from 62.4 in June but was above the key 50.0 no-change mark.
"A substantial loss of momentum was seen for new business growth during July, with this index the lowest since February," the survey said.
"While many firms commented on strong consumer spending and a sustained recovery in demand for business services, there were also reports that COVID-19 isolation rules had negatively influenced sales volumes."
Sterling has edged higher against the dollar today, in anticipation of a hawkish turn from the Bank of England when it meets on Thursday.
Sterling has rebounded after lockdown restrictions were relaxed in England on July 19, reaching as high as $1.3984 at the end of the month. Since then it has stayed mostly above $1.39.
Today, the currency is up 0.1pc against the dollar at $1.3927. Against the euro, the pound was down 0.2pc at 0.8511p.
At tomorrow's BoE meeting, officials are expected to maintain its nearly £900bn bond-buying programme.
However two policymakers have broken ranks recently to suggest that the time for tighter monetary policy might be nearing. The BoE is expected to be among the first of the world's main central banks to begin the process of stopping stimulus support.
Overnight implied volatility on the pound increased by 2 points, indicating that traders are bracing for potential swings in the currency around the central bank meeting.
"We think meaningful BoE shifts will wait until after unemployment support via the furlough scheme is over so the Bank can get a cleaner read on the labour market," said CitiFX analyst Adam Pickett, in a note to clients.
"Hint on liftoff contingencies in the minutes and risks around an updated QT strategy also leave hawkish risks. Net-net we don't think we see enough to move GBP this week."
Chief executive of housebuilder Taylor Wimpey has rejected suggestions that the UK housing market is in a bubble after it announced swinging back to a profit.
On the BBC's Today programme, Taylor Wimpey chief executive Pete Redfern said market conditions were not the same as when the housing market last crashed in 2007.
In 2007, mortgage lending had been "significantly laxer" than it is right now, while house price growth had been "well above" inflation levels, he said.
There was also a higher number of investors buying homes, he said, adding "none of those things is true today" and the UK currently had an "entirely healthy and stable housing market".
Laura Hoy, Equity Analyst at Hargreaves Lansdown, comments:
Another set of strong results from the UK’s housebuilders adds to mounting evidence that the pandemic has been a tailwind for the housing market. Turns out being locked inside for months on end has caused many people to re-evaluate their current living situation. Add to that the rising popularity of working from home, and you have the perfect excuse to move house.Over the past few months, there’ve been mutterings of a potential slowdown in the UK’s red-hot housing market—Halifax reported a small decline in house prices in June—but from Taylor Wimpey’s perspective things are still ticking over nicely. The group reported a double-digit rise in house prices, a strong forward order book, and cancellation rates in line with 2019 levels.If things carry on like this, Taylor Wimpey could be one of the pandemic’s biggest winners. The group was bolder than some of its peers with an aggressive land buying strategy that will pay off if the market remains buoyant. Of course, the group will suffer if the economy stumbles in the wake of the pandemic, but so far the group is building from a strong base.
US stocks lifted higher on Tuesday, with the S&P 500 reaching a new closing high of 4423.15, up 0.8pc from Monday's close.
The Dow Jones also rose 0.8pc to 35116.40 and the Nasdaq Composite inched 0.5pc higher to 1476.29.
Shares of sports clothing brand Under Armour jumper 7pc higher after the company said strong sales by its golf and running products helped the business swing to profit.
Ralph Lauren also lifted 6pc after its first quarter revenue nearly tripled to $1.4bn compared to a year earlier, exceeding analyst expectations.
Shares of The Hut Group (THG) have lifted 2.8pc in early trading, after the e-commerce company agreed to buy online beauty retailer Cult Beauty in a £275m deal.
THG said the acquisition will boost its sales for the next full year by £140m, with an earnings lift of around £10m. It added it is now expecting to overtake previous sales growth targets for this financial year.
THG founder Matthew Moulding - who began working life as a pot washer in his local pub - initially embarked on a career as an accountant before helping to set up The Hut Group in 2004.
Leading gains on the FTSE 100 today are housebuilder Taylor Wimpey (up 6.2pc) and Legal and General (up 2pc), after both companies reported strong results this morning.
Pensions giant Legal and General reported its profit before tax had jumped to £1,320m from £285m in the first half of 2020, boosted by its investments.
Nigel Wilson, the chief executive officer, said: “We're continuing to make investments that are economically, environmentally and socially valuable, in line with our long-term commitment to delivering Inclusive Capitalism and supporting the Building Back Better and Levelling Up agenda."
Shares of Just Eat takeaway were trailing the index, down 2.9pc.
The FTSE 100 has opened 34.92 points or 0.5pc higher at 7,140.64.
The FTSE 250 has also lifted 74.25 points or 0.3pc to 23,360.97.
The world's second largest asset manager is offering $1,000 to employees who get vaccinated before October, according to Bloomberg.
Vanguard Group is offering the payment to all workers who can prove they are vaccinated, even if they received the vaccine before the firm made the offer will also qualify for the incentive.
"We are offering a vaccine incentive for crew who provide Covid-19 vaccination proof," a Vanguard spokesperson said, adding that the company rewards employees "who have taken the time to protect themselves, each other, and our communities by being vaccinated."
FTSE 100 listed housebuilder Taylor Wimpey has raised its full-year earnings outlook, after swinging to a first-half profit as a result of Britain's booming property market.
The group posted pre-tax profits of £287.5m for the six months to July 4, against losses of £39.8m a year ago.
Its half-year operating profits totalled £424m and it completed a record 7,303 homes, helped by delayed transactions from the end of last year and a property market that has been firing on all cylinders.
Taylor said it now expects full-year group earnings to beat market expectations - at around £820m - with completions also set to be at the top end of forecasts.
Rolls-Royce has agreed to sell its Norwegian maritime engine business to British engineering group Langley Holdings for an enterprise value of €63m.
The deal follows a previous agreement Rolls Royce struck to sell its Bergen business for €150m to a Russian company, however Norway blocked the sale on national security grounds.
Warren East, Rolls-Royce chief executive, said: "We believe that this agreement will provide Bergen Engines and its skilled workforce with a new owner able to take the business on the next step of its journey. The sale of Bergen Engines is a part of our ongoing portfolio management to create a simpler, more focused group and contributes towards our target to generate at least £2bn from disposals, as announced last year."
The agreed sale includes the Bergen Engines factory, service workshop and foundry in Norway; engine and power plant design capability; and a global service network spanning more than seven countries.
Bergen Engines employs more than 900 people worldwide including 650 in the main factory in Hordvikneset. In 2020, the business generated revenues of around €200m.
Good morning. The FTSE 100 is set to climb around 0.20pc to add 15 points this morning as markets look to maintain their upward momentum. The FTSE 250 and Euro Stoxx 600 both reached new record highs yesterday while Wall Street rebounded from a weak start to push on, with Asian stocks shrugging off delta variant fears to drive higher on strong US earnings and vaccine rollouts.
Stronger than expected earnings for US companies are expected to fuel markets in the second half, according to JP Morgan analysts, who wrote in a note:"Our baseline forecast for strong global growth to further gather steam in 2H21 has remained unchanged in recent months."
"The central pillar of our global outlook is that vaccines will sever the link between Covid-19 and economic activity," they added.
The main risk remains the transmission of the delta variant, especially after a fresh outbreak of cases in China.
1)Mike Ashley set to step down from Sports Direct:Tracksuit tycoon expected to become deputy chairman of Frasers Group and promote his future son-in-law Michael Murray.
2)Britain must take 'golden share' in defence firms like Meggitt, say MPs:Chairman of defence select committee says the FTSE 250 firm should be protected from foreign takeovers in same way as BAE and Rolls-Royce.
3)Rolls-Royce lines up funding for mini nuclear reactor revolution:Private backing for Rolls-led consortium to build new generation of "mini nukes" unlocks hundreds of millions of taxpayer support.
4)Amazon's drone deliveries in doubt after Cambridge cutbacks:Online retail giant's Prime Air division has reportedly cut up to 100 staff but says it remains committed to UK development centre.
5)Pepsi sells Tropicana in $3.3bn deal as juice falls out of favour:PepsiCo will offload its juice brands to French private equity firm PAI Partners but retain a 39pc stake through a joint venture.
Asian stocks were mostly higher on Wednesday as traders mirrored overnight gains on Wall Street during another busy earnings week.
The Kospi in South Korea advanced 0.9pc to 3,264.78 and the Hang Seng in Hong Kong added 1.5pc to 26,589.87. The Shanghai Composite index gained 0.3pc to 3,458.31.
Sydney's S&P/ASX 200 was also 0.3pc higher at 7,497.40. Tokyo's Nikkei 225 fell 0.1pc to 27,612.29.
Shares edged higher in Singapore, Indonesia and the Philippines but fell in Malaysia.
• Corporate: Ferrexpo, Ibstock, L&G, Morgan Sindall, Taylor Wimpey(Interim);UDG Healthcare(Trading update)
• Economics:Services PMI(UK, EU, US, Asia);retail sales(EU);oil inventory(US) || Why Bitcoin-Related And Ethereum-Related Stocks Are Falling: Shares of crypto-related stocks, including Marathon Digital Holdings Inc (NASDAQ: MARA ), Riot Blockchain Inc (NASDAQ: RIOT ) and Coinbase Global, Inc. (NASDAQ: COIN ) are trading lower amid a decrease in the price of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH). Bitcoin is trading 9% lower at around $47,900 Tuesday morning. Ethereum is trading 11.5% lower at around $3,470 Tuesday morning. Marathon Digital focuses on mining digital assets. It owns crypto-currency mining machines and a data center to mine digital assets. The company operates in the digital currency blockchain segment and its cryptocurrency machines are located in Canada. Marathon Digital is trading lower by 7.9% at $40 per share. Riot Blockchain is focused on building, supporting and operating blockchain technologies. The company's portfolio consists of Verady, Tesspay, Coinsquare and others. Riot Blockchain is trading lower by 7% at $32 per share. Coinbase Global, Inc. provides financial infrastructure and technology for the cryptoeconomy. Coinbase is trading lower by 3.9% at $267.50 per share. See more from Benzinga Click here for options trades from Benzinga Why Bitcoin-Related And Ethereum-Related Stocks Are Rising © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || GoMining Created a Token that Has Become an Alternative to Traditional and Cloud Mining: SINGAPORE / ACCESSWIRE / July 27, 2021 /Since mining has recently become popular, many difficulties associated with this process such as expensive hardware and power consumption have arisen. GoMining has developed an exclusive alternative which will eliminate unnecessary problems.
GoMining has created a unique token, GMT, which is backed by the real computing power of their mining fleet of devices. Besides the fact that each token is an asset, it allows mining Bitcoin on a daily basis. Moreover, unlike traditional mining, holders don't need to spend money on equipment, and unlike cloud mining, GMT allows mining without a time limit.
At the moment, the company receives 50% of electricity for the operation of data centers from renewable energy sources: hydroelectric power plants and wind turbines. In the future, the team plans to completely move towards sustainable energy consumption and minimize any ecological harm.
Almost every week the team introduces additional equipment and computing power. After this, 20%-90% of new tokens (supplied by fresh computing power) get 'burned' and the released capacity is redistributed between other tokens. As a result, the supply capacity of a GMT increases which results in income growth.
In the next few years, the company plans to increase GMT value (and income from mining) by several times. But GoMining's big goal is to provide 20% of the world's BTC mining, which is quite doable given the pace at which the company is growing.
Social Links
Reddit:https://www.reddit.com/user/GoMiningTokenTwitter:https://twitter.com/GMT_TokenInstagram:https://www.instagram.com/gmt_token/Telegram:https://t.me/gmt_token_talk
Media Contact
Company: GoMiningContact: Matthew Halford, PR representativeE-mail:pr@gomining.comWebsite:https://token.gomining.com/
SOURCE:GoMining
View source version on accesswire.com:https://www.accesswire.com/657219/GoMining-Created-a-Token-that-Has-Become-an-Alternative-to-Traditional-and-Cloud-Mining
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 48176.35, 47783.36, 47267.52, 48278.36, 47260.22, 42843.80, 40693.68, 43574.51, 44895.10, 42839.75
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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)]
Tron now available on eToro platform: eToro has added Tron as a trading option, TRON Foundation announced in a blog post . The cryptocurrency is one of the 15 available on the global investment platform. It joined Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin, and zCash. It will also be added to eToros CryptoPortfoliosa feature that allows investors to create diversified investments. TRON is making fast progress towards lofty ambitions, and has rightly garnered the attention of the crypto community," said co-founder and CEO at eToro Yoni Assia. "Given the relative youth of blockchain technology, investors in crypto-assets are investing in big ideas and seeking out companies that execute on big ideas. Tron certainly ticks that box. At eToro we look to offer investors access to crypto-assets that already have some clear success behind them. TRON is currently ranked 11th on the Coin Market Cap, with a market cap of more than $1.5 billion. || How the industry could benefit from major players like the Facebook cryptocurrency: With a Facebook cryptocurrency seemingly on the horizon, what does this mean for the industry as a whole? Will Facebook adhere to the traditional values of cryptocurrencies such as decentralisation, or will it be a centralised payments solution? With the age of the average Facebook user rising, will the social media titan be able to convert its two billion users onto cryptocurrencies, boosting mainstream adoption? The benefits of the Facebook cryptocurrency The first and perhaps most major benefit that could arise from a Facebook cryptocurrency is on the marketing side of cryptocurrencies. For outsiders, especially those from a non-technical background, cryptocurrencies can appear difficult to use and quite frankly odd. This extends further into the various cryptocurrency communities, with niche jokes and memes coupled with a severe lack of trust of outsiders critical of cryptocurrencies. If Facebook can incorporate a cryptocurrency onto its platforms in an easy-to-use manner, there will be a huge number exposed to using cryptocurrencies. People might just stick to using their trusted Facebook cryptocurrency or alternatively their interest may be piqued. This could encourage them to explore other cryptocurrencies, both technically and philosophically. Facebook therefore could encourage further widespread adoption. If the rumours are to be believed, then the Facebook cryptocurrency will be released as a stablecoin. This will reduce the risk for many new incumbents who will be using a cryptocurrency for the first time. Making the cryptocurrency a stablecoin would appear a wise move from Zuckerberg. With many cryptocurrencies still extremely volatile, the backlash from a floating-price cryptocurrency could blow up in his face. A stablecoin provides a higher level of security for Facebook and adds to its ease of use. Disadvantages of the Facebook cryptocurrency Whether the coin Facebook launches will be a cryptocurrency only in name is still unknown, but it isn’t out of the realms of possibility. It would appear unlikely for Facebook to launch a permissionless payments system. This possible centralised aspect makes the idea of a Facebook cryptocurrency appear naive. There are already many other popular solutions that could achieve this through a third party. Of course, if Facebook was to implement a third-party provider, then there would not be as much money that Facebook could skim off the top of its profits, which might explain why it is creating its own version. Story continues Facebook still hasn’t dealt with issues of privacy particularly well on its platform. With privacy being a big bugbear amongst the cryptocurrency community, adding a payments system on top allowing Facebook to access even more data appears fraught with risk. Yet with the target audience of Facebook, this would seem like an issue that it might be able to bypass. Questions can also be asked about how likely it is that a Facebook cryptocurrency would induce more mainstream adoption. The hopium from the cryptocurrency community could perhaps be misplaced. Indeed, it is possible that those that end up using Facebook’s coin may well just stick to that one coin and that one coin only. Yet even a small transfer of people from Facebook’s billions of customers would mark a seismic shift towards more people using cryptocurrencies. Reaction to the news It is fair to say that the reaction to the announcement of a Facebook cryptocurrency has been mixed. Mike Rymanov argues that the SEC will soon shut down Facebook’s attempt at its own cryptocurrency. He states that Bitcoin cannot be shut down in a similar manner due to its decentralised nature and the grassroots movement of the project. With Facebook though, there is a central authority to go after. Ross Sandley , a Barclays bank analyst, has the opposite opinion though, believing that Facebook’s new coin could generate billions in revenue for the company. Facebook isn’t alone in recently announcing its interest in cryptocurrencies. There are many other major brands that are investigating both cryptocurrencies and blockchain technology, including JP Morgan and IBM. Such corporate behemoths entering the cryptocurrency industry would suggest that there is a viable future for the industry and should benefit the space as a whole. There is a caveat to this though. Many projects in the industry still don’t understand blockchain technology correctly. Therefore, it is unlikely that any of the companies listed above will ever produce a decentralised blockchain, which in effect could render their products largely useless for the consumer. Conclusion Whilst many people in the cryptocurrency industry might sneer at the thought of Facebook producing its own stablecoin, the net result should be positive overall. The release of the coin will not cause any damage to such cryptocurrencies as Bitcoin or Ethereum as their goals are distinctly different. The hope remains that Facebook can indeed help convert many more over to traditional cryptocurrencies once they have played around with Facebook’s stablecoin. The post How the industry could benefit from major players like the Facebook cryptocurrency appeared first on Coin Rivet . || Facebook Bitcoin Scammers Target Aussie Celebs to Con Investors: Fraudsters and Facebook are profiting from scam ads featuring photos of popular Australian TV hosts that convince unwary Aussies to part with their cash and invest in bitcoin.
You might expect this scam on an obscure internet chat room, maybe on the darknet, but nope, con-artists are using the world’s most popular social media platform and one of its biggest ad platforms to do it – and as far as Facebook is concerned it’s OK by them.
The scammers doctored photos of TV presenters Karl Stefanovic and Waleed Aly in a fictional news segment on popular evening talk show The Project, where Stefanovic tells Aly how much he is making by using Bitcoin Trader.
Source: Facebook / Outline
After creating fake Facebook pages the scammers pay the social media giant to promote their posts as widely as possible, to maximize views and rip-off as many people as they can.
One of the sponsored posts said:
The Project co-host Waleed Aly was left in disbelief as Stefanovic pulled out his phone and showed viewers how much money he’s making through this new money-making program that now has everyone in Australia whispering. || U.S. Taxpayers Can Receive Federal or State Tax Refunds in Bitcoin: By CCN.com : U.S. taxpayers can receive all or part of their federal and state tax refunds in bitcoin. This is being made possible through a collaboration between blockchain payments processor BitPay and Refundo, a provider of tax-related financial products. In a statement , Refundo says its CoinRT product is especially useful for low-income communities that don’t have checking accounts and often resort to paying high check-cashing fees. That said, Refundo’s CoinRT service is not free. CoinRT costs $34.95 per refund transfer, and that doesn’t include BitPay’s 1% service fee. refondo bitcoin tax refund Refundo wants to help low-income communities get tax refunds in bitcoin. | Source: screenshot Refundo focuses on low-income communities Refundo specializes in serving low-income communities. Refundo CEO Roger Chinchilla says these communities often send money abroad, so the integration of bitcoin can streamline both their tax refunds and their international remittances. “Bitcoin provides transactional transparency, as every transaction is verified, recorded and stored on the blockchain. The transaction itself contains no sensitive personal information.” “Refundo offers several options to help taxpayers receive their tax refunds safer, faster and more conveniently. Adding bitcoin was a natural fit for our customers, who often do not have traditional checking accounts, pay high check-cashing fees, and regularly send money internationally.” Read the full story on CCN.com . View comments || China’s 11th Crypto Rankings: EOS First, TRON Second, Ethereum Third, Bitcoin Fifteenth: Chinahasreleasedits latest government-sponsored rankings of majorcryptocurrencieson March 22, placing Bitcoin (BTC) in 15th, whileEOSkeeps its top spot. Tron (TRX) came in second, afterovertakingEthereum(ETH) in February.
The crypto rankings by China’s Center for Information and Industry Development (CCID) were firstannouncedin May last year. In this eleventh edition of the index, EOS has remained as the top-rankedblockchain, a place occupied by the platform since June 2018.
The eleventh CCID Global Public Chain Technology Evaluation Index puts Tron on the second spot, as did the tenth edition. The ninth edition had previously placed Ethereum in the second spot, while Tron wasn’t present at all on the list.
In the tenth edition, Bitcoin hadmovedfrom number 15 to number 13, now falling back down two spots to occupy 15th place again.
As Cointelegraph recentlyreportedin a dedicated analysis, EOS is seemingly still a work in progress, as the blockchain has seencontroversyover some aspects of its allegedly centralized governance system.
Two major crypto exchanges —Singapore-headquartered Huobi Global and Malta-basedOKEx—proclaimedtheir support for theTron-based version of stablecoinTetherthis week. At the beginning of the current month, Tron and Tether had firstannouncedtheir intention to introduce the USDT to the Tron network.
Recently, Cointelegraphreportedthat Ethereum is being used by aNorth Koreanpolitical dissident group, the Cheollima Civil Defense, toselltokenized visas for entering the country once it is supposedly liberated.
• Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, Cardano, Tron: Price Analysis, March 25
• Bitcoin Stays Over $4,000 as Top Cryptos See Slight Losses
• Largest Swiss Online Retailer Digitec Galaxus Now Accepts Cryptocurrencies
• Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, TRON, Cardano: Price Analysis, March 13 || Bitcoin The Bears Are Looking for a Way Back to sub-$4,000: Bitcoin gained 0.76% on Tuesday. Following on from a 0.12% rise from Monday, Bitcoin ended the day at $4,104.6. A bearish morning saw Bitcoin fall to a mid-morning intraday low $4,055.2 before finding support. Steering clear of the first major support level at $4,031.80, Bitcoin rallied to an early afternoon intraday high $4,120. Bitcoin broke through the first major support level at $4,117.80 before easing back. For the Bitcoin bulls, a hold onto $4,100 levels by the days end was a first since 23 rd February. Elsewhere Across the top 10 cryptos, it was a relatively uneventful day for all but one of the crypto majors. Hitting reverse on Tuesday was Stellars Lumen, which slid by 3.54% on the day. The heavy losses come off the back of a bullish start to the week. In spite of Tuesdays pullback, Stellars Lumen was still up by 2.47% Monday through Tuesday. Ahead of Stellars Lumen in the early part of the week is Bitcoin Cash ABC, which was up by 3.34% to the end of Tuesday. In contrast to the front runners, Litecoin and Trons TRX saw the heaviest losses in the early part of the week. Litecoin was down by 1.67%, with Tron down by 1.14%. The pair have seen strong support through the early part of this year, in spite of the current week losses. While Tron may struggle if the wires fail to deliver news of increased adoption, Litecoin could find more support near-term. Litecoins halving doesnt take place until August, so theres still plenty of time for a breakout from $60 levels. Get Into Cryptocurrency Trading Today At the time of writing, Bitcoin was down by 0.58% to $4,080.8. A bearish start to the day saw Bitcoin slide from a morning high $4,118.0 to a low $4,072.7 before hitting reverse. The early pullback saw Bitcoin come within range of the first major support level at $4,066.53. The early morning high saw Bitcoin come up short of the first major resistance level at $4,131.33. Story continues For the day ahead A move back through to $4,090 levels would signal a move back through to $4,100 levels later in the day. A material shift in sentiment across the broader-market would be needed, however, for Bitcoin to breakout from current levels. A sea of red across the crypto majors would likely see the first major resistance level at $4,131.33 pin Bitcoin back on the day. In the event of a broad-based crypto rebound, Bitcoin could break through the first major resistance level to test selling pressure at the second major resistance level at $4,158.07 before any pullback. Failure to move back through to $4,090 levels could lead to heavier losses in the day. A fall through the morning low $4,072.7 would bring the first major support level at $4,066.53 into play. Barring a crypto-meltdown, we would expect Bitcoin to hold onto $4,000 levels through the day. Time may be running out for the Bitcoin bulls, however. The continued failure to break through to $4,500 levels could become an issue. This article was originally posted on FX Empire More From FXEMPIRE: E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis March 20, 2019 Forecast Natural Gas Price Fundamental Daily Forecast No Bias Until Traders Determine End-of-Season Inventory US Stock Market Overview Stocks Drop Ahead of Fed, FedEx Misses on Top and Bottom Line E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis Formed Potentially Bearish Closing Price Reversal Top Bitcoin And Ethereum Daily Price Forecast Bitcoin Bulls On Another Attempt For Bullish Breakout Stellars Lumen Technical Analysis Support Levels in Play 20/03/19 || Iran’s First Ever Bitcoin ATM Unveiled in Tehran: On April 24, 2019, the first bitcoin ATM in the Islamic Republic of Iran was revealed at the 12th International Exhibition of Exchange, Bank and Insurance in Tehran.
Footageof the event was captured by a film crew working for German news agencyRuptly, a part ofRussia Today’sgreater media network. Intrigued crowds were seen lining up to see the functionality of this machine, which was emblazoned with the message that the BTM was itself made in Iran, not wheeled into the conference from some overseas source.
Ruptlyalso interviewed both the demonstration’s presenters and random users on the experience. “I was happy, as a person who has Bitcoin, when I used it,” said Iranian citizen Elnaz Rahim. “I needed cash in Rial and it took me less than three minutes and I was very satisfied. I hope that we will be able to circumvent sanctions by it.”
Indeed, Iranian citizens have already seen the possibleuse casesof bitcoin to circumvent international sanctions. In December 2018, Iranian citizens studying abroad in the United Kingdom found themselves relying on bitcoin to pay their tuition, after recently imposed sanctions made it otherwise impossible.
The possibility of using bitcoin in this way is especially salient for Iranians, as punitive sanctions have beenpushingIran’s energy sector to the limit. With summertime heat waves pushing temperatures above awhopping127 degrees Fahrenheit, ways of circumventing these measures are becoming an especially important consideration as energy costs continue to increase.
WhenBitcoin Magazinehelped topassthe Lightning Torch (via Welsh bitcoiner Bitgeiniog) to an Iranian user in March, sanctions were a recurring point of concern, with Torch recipient Ziya Sadr calling bitcoin “a safe haven.”
April 2019 hasseenIran become a major area of interest for bitcoin miners from China. Although mining firms have found it difficult to get the necessary equipment into the country, they have nevertheless reported that the government is willing to offer lucrative deals on electricity costs in exchange for long-term investment in the nation’s power plants.
With over 220 companies participating, theTehran Timescalledthe exhibition “the most significant event in domestic capital market, banking and insurance sectors,” especiallyconsideringhow nearly 70 percent of the nation’s 81 million inhabitants are now internet users.
This article originally appeared onBitcoin Magazine. || Report: Canada Revenue Agency Auditing Crypto Investors: The Canada Revenue Agency (CRA), the government’s tax collection service, is reportedly auditing investors in cryptocurrencies like Bitcoin ( BTC ), Forbes reports on March 6. Citing sources close to the matter, Forbes states that the CRA has sent extensive questionnaires to investors pertaining to their crypto-related activities in recent years. The questionnaires reportedly run 14 pages long with 54 questions and multiple sub-questions. The CRA told Forbes: “In order to protect the integrity of our risk assessment systems, we cannot comment on the specific information or criteria we use to select files for audit.” Per Forbes, the CRA is asking investors to clarify multiple points regarding their crypto investments, such how and through whom they purchased the assets and whether they use cryptocurrency mixing services or tumblers . Another question reportedly asks whether investors have bought or sold assets on ShapeShift or Changelly — cryptocurrency exchanges which both allow users to trade assets without disclosing their real world identity. The agency began taxing cryptocurrencies in 2013, and subsequently established a dedicated cryptocurrency unit in 2017 for collecting intelligence and conducting audits focused on crypto-related risks. While the CRA closely monitors crypto related activities, federal and provincial governments in Canada have created research and development tax incentives. The CRA said: “The CRA’s enhanced efforts in this space stem directly from its broader Underground Economy Strategy , which includes a commitment to monitor emerging platforms and new business models, with a special focus on the sharing economy and digital currencies.” Laura Gheorghiu, a tax partner at law firm Gowling WLG, previously told Cointelegraph that the CRA classifies cryptocurrencies as a commodity, making the exchange of crypto taxable as a barter transaction and making it taxable as business income or capital gains. Most Canadians must file their tax returns before April 30, while self-employed filers have until June 15. Story continues As the April 15 deadline for tax filing looms in the United States , some companies are introducing new services that allow investors to more easily calculate taxes on their crypto holdings. In early February, tax preparation software TurboTax released a new version of its eponymous tax preparation software that allows users to import trading data directly from major exchanges, such as Coinbase , Gemini , and Poloniex . Yesterday, Big Four auditing firm Ernst & Young launched a tool for accounting and preparing taxes on cryptocurrency holdings. The new tool called EY Crypto-Asset Accounting and Tax will allow both institutional and retail investors to calculate and prepare taxes on cryptocurrency holdings. Related Articles: FATF Issues Preliminary Guidelines on Digital Assets to Combat Money Laundering Russian Supreme Court Classifies Illicit Crypto Use Under Money Laundering Laws Crypto Skeptic Massachusetts Secretary Creates Fintech Advisory Group Israel Securities Authority Publishes Final Recommendations on Crypto Regulation || Microsoft Bing Trashed 5 Million Crypto Ads in 2018: Who Cares?: Microsoft search engine Bing ranked second in popularity in January. Therankingdidn’t include YouTube, which by itself processes3 billion queries per month. This ranking enabled Microsoft to have a severe impact on the dissemination of cryptocurrency advertisements in 2018, according to a “year in review” reportpublished today.
Microsoft wrongly placed the Bitcoin bull market in 2018. | Source: Yahoo Finance
First, comedy gold. The Bing report wrongly claims that cryptocurrency experienced a “bull run” in 2018.
“Cryptocurrency as an asset class saw a bull run in 2018, increasing valuations multi-fold.”
As readers are probably well aware, 2018 was the wind-down year. We dropped from over $15,000 at the beginning of January to $6,000 by November, and from there another $2,000 per Bitcoin was shed. For months now thepricehas fought to maintain around $4,000, giving it a remarkable “stability” factor not often seen in Bitcoin markets. Erstwhile, altcoins have had somebreakouts, but nothing compared to 2017.
In case Bing updates the text, here’s a screenshot:
According to Microsoft Bing, 2018 was a bull year for crypto. | Source: Microsoft
Read the full story on CCN.com. || Yelp’s Bitcoin Filter Could Kickstart Weak Crypto Adoption: Merchants and consumers are seeing rising demand for crypto. | Source: (i) Shutterstock (ii) Shutterstock; Edited by CCN By CCN : As bitcoin’s price experienced a surge this week, it seems merchants and consumers are more interested in crypto than ever. Local-search company Yelp has joined the pact by reportedly adding a filter to help users find merchants that accept cryptocurrency. No matter if you’re looking for a burger bar, dog groomer, or any other kind of business listed on its site, you can now zero in on those that let you pay with crypto. Yelp’s move is reflective of a larger move that the crypto space has craved – mass adoption . Whether merchants are rolling out ways to draw in customers or demand to pay with crypto is on the rise, this is clearly a good sign. GREAT news if your life is all go-go-go 🏎 You can use the Yelp app on the new #FitbitVersaLite smartwatch and find a refueling bite right from your wrist. ⚡ pic.twitter.com/B2bYJwzVLa — Yelp (@Yelp) April 20, 2019 Fresh Wave of New Faces Yelp’s filter hunts down establishments that accept crypto. It doesn’t accept digital currencies itself. Yelp’s filter is significant because its user base is huge. It reportedly had more than 30 million unique visitors on its mobile application and 69 million unique users on its mobile website last year. Roughly 62 million desktop users visited. This was just in its last fiscal quarter. Another popular site that has made such moves is travel giant Expedia. Bitcoin.travel reportedly is now supporting payments in seven different cryptocurrencies, including Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, and Dogecoin. Read the full story on CCN.com .
[Random Sample of Social Media Buzz (last 60 days)]
US Stock Broker E*Trade to Launch Bitcoin and Ether Trading: Report https://t.co/PC4C09oJ3T || 1H
2019/04/14 14:00 (2019/04/14 13:00)
LONG : 24010.02 BTC (+1.29 BTC)
SHORT : 18788.18 BTC (-1.37 BTC)
LS比 : 56% vs 43% (56% vs 43%) || This tweet, "RT CoinsAirdrops: #Bitcoin #Satoshi #crypto #blockchain #Airdrop
New Airdrop #Bitsdaq
Bitsdaq a new exchange is airdropping up to 10,00…" hasn't been tweeted more than 2 times. || $BTC: Introducing @coinmetrics' brand new transaction volume estimates. (Shoutout to @nic__carter, @khannib, and @panekkkk for the data.)
A thread on why it is so beautiful, at least from an analyst's perspective...
1/ Velocity—a.k.a. inverse NVT ratio (7-day median smooth): https://t.co/nSV0o7e9dL || 【http://CoinNess.com Market Surveillance April 23: BTC Price Gained 4.02% Above $5600】As of 18:00 (UTC) on April 23, the global index of Bitcoin (BTC) swings above the $5,500 level, marking $5...https://bi.city/s/fsdDJ4 || Şunuda belirteyim: bu alacağınız 1/4 o enstürman için ayırdığınız paranın 1/4 düdür..
Yoksa tüm paranızın 1/4 dü değil..
100 tl tüm sermayeniz ise sallıyorum..
Dediniz ki bek btc alacam .. btc için ayıracağınız para max 20 olmalı..
Bu 20 yide 4 kademe almalısınız || @coinbase #btc #xrp #ltc #xlm #bat Why is Coinbase prices off so much? I think these companies SHOULD be forced to show exactly where they get their #'s from on their asset charts. BTC off $100.00 at least, xrp off .0060 etc etc. || 2019/04/26 00:30
BTC 610194円
ETH 18338.6円
ETC 627円
BCH 31284.7円
XRP 34円
XEM 6.9円
LSK 207.5円
MONA 110.3円
#仮想通貨 #ビットコイン #Bitcoin #bitFlyer #Coincheck || Just for my followers ;) pls don't retweet 🥰
Weekly $BTC #Bitcoin 🤖📈
Decent spot, but don't expect it to be just over yet. Still a much better time to buy Bitcoin and come in the market compare to the infamous December'17 🤣😇 https://t.co/YlLKiDASyL || 2019/04/30 20:00:06
BTCドミナンス : 54.5815%
未承認 : 22118
BitFlyer SPOT/FX/乖離
580199.0 / 587561.0 / 1.269%
BitMex 調達率
BTC : -0.0648% / -0.0309%
ETH : 0.0324% / 0.0546%
Finex FRR
BTC : 37.843%
USD : 9.405%
|
Trend: up || Prices: 5746.81, 5829.50, 5982.46, 6174.53, 6378.85, 7204.77, 6972.37, 7814.92, 7994.42, 8205.17
|
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 2019-07-23]
BTC Price: 9900.77, BTC RSI: 44.45
Gold Price: 1420.10, Gold RSI: 64.29
Oil Price: 56.77, Oil RSI: 47.59
[Random Sample of News (last 60 days)]
3 Reasons Bitcoin’s Price is Rallying Above $9K: Bitcoin rose above $9,000 over the weekend, taking cumulative year-to-date gains to more than 150 percent.
The leading cryptocurrency by market value clocked a 13-month high of $9,391 on Bitstamp on Sunday and was last seen trading at $9,200, representing 22 percent gains on last Monday’s low of $7,524.
Cryptocurrency market experts and investors are associating the sharp price gains seen over the last six days with a number of factors, the most prominent being Facebook’s comingforay intocryptocurrencies.
Above $9.3K: Bitcoin’s Price Prints 13-Month High
The social media giant is set to unveil its very own stablecoin, reportedly called GlobalCoin on Tuesday, June 17, with a launch to follow in 2020.
The project has reportedly already secured the backing of over adozen companiesand is seen boosting the pace of widespread cryptocurrency adoption by many includingBarry Silbert, the founder and chief executive of Digital Currency Group.
Meanwhile, Spencer Bogart, General Partner at Blockchain Capital, believes Facebook’s crypto effort is among the most bullish external tailwinds for bitcoin in 2019/2020, as it will ease the friction in acquiring digital assets by creating a circular economy.
Bitcoin Surpasses 1 Million Daily Active Addresses
Further, there is a consensus in the investor community that Facebook’s crypto will create awareness that a private, non-central bank issued currency can exist, leading to increased adoption of bitcoin and other cryptocurrencies.
The hype garnered by GlobalCoin likely put a bid under the cryptocurrency over the weekend. That, however, makes BTC vulnerable to “sell the fact” trading following the expected white paper launch on Tuesday.
Binance.com, the world’s largest cryptocurrency by trading volume,updatedits terms of use on June 14 to exclude all users in the U.S.
The announcement led to a sharp sell-off in Binance’s very own native asset, Binance Coin (BNB). The price of BNB fell 12.8 percent to 25,209 satoshis (a satoshi being 0.00000001 of a BTC) on Friday, and hit a one-month low of 34,906 satoshis on Sunday.
The slide indicates that investors have rotated money out of BNB and possibly into bitcoin, pushing the top cryptocurrency higher, as discussed by Alex Kruger – a prominent Fundamental & Technical Analyst.
The upcoming litecoin (LTC)halving, set to trigger on August 5, 2019, will cut the reward gained from mining the cryptocurrency by half, meaning LTC will become a more scarce asset overall.
”Halvings’ as they are known, typically result in an overall boost in value for the crypto markets, as the assets themselves become harder to obtain and therefore increase in value.
Litecoin has already rallied 353 percent this year and may have added fuel to the ongoing bitcoin’s price rally. It is worth noting that litecoin led the broader markets higher in the first quarter, with 100 percent gains over the period.
As noted earlier, bitcoin may see a pullback following Facebook’s announcement on Tuesday. The long duration charts, however, indicate that corrections, if any, could be short-lived.
Bitcoin jumped 17.57 percent last week (above left), invalidating the bearish view put forward by the previous week’s close below $8,000.
Further, the 5- and 10-week moving averages are trending north, indicating a bullish setup, while Chaikin money flow is reporting the strongest buying pressure since December with an above-0.32 reading.
The bullish case looks stronger if we take into account the falling channel breakout on the monthly chart (above right).
As a result, BTC could rise to $10,000 over the next few weeks. In the short-term, a price pullback cannot be ruled out.
BTC printed 13-month highs above $9,300 on Sunday but failed to close above $9,097 – the high of the bearish outside reversal candle created on May 30.
Another failure to secure a UTC close above $9,097 may trigger profit taking on long positions, leading to a price pullback to the 200-hour moving average (MA), currently at $8,300.
Disclosure:The author holds no cryptocurrency at the time of writing
Bitcoin imageviaShutterstock; litecoin halving counter viaLitecoin Blockhalf
• Facebook’s GlobalCoin May Be A ‘Historic Initiative,’ Say RBC Analysts
• A Protocol for Issuing Tokens Launches on Bitcoin’s Lightning Network || Chewy IPO Finds Its Way Into ProShares Pet Care ETF: This article was originally published on ETFTrends.com. The ProShares Pet Care ETF (CBOE: PAWZ) debuted last November as the first exchange traded fund (ETF) dedicated to the pet care industry and related investment opportunities. Now, the high-flying PAWZ is making room for one of the pet care industry's most widely anticipated new stocks: Chewy, Inc. (NYSE: CHWY). Earlier this month, Chewy Inc (CHWY) , a subsidiary of PetSmart, priced the initial public offering of 46,500,000 shares of its Class A common stock at $22 per share. The newly public company joined PAWZ on Friday, June 21. PAWZ is the only ETF focused on the pet care industry, said Maryland-based ProShares in a statement out Friday. It gives investors the opportunity to gain broad exposure to public companies in the global pet care industrycompanies like Chewy that stand to potentially benefit from the proliferation of pet ownership and the emerging trends affecting how we care for our pets. PAWZ ETF Potential PAWZ includes sectors such as veterinary pharmaceuticals, diagnostics, services, and product distributors; pet and pet supply stores, and pet food and supply manufacturing. Heavy on companies with exposure to the pet healthcare industry, PAWZ is beating the largest traditional healthcare ETF by a margin of more than 2-to-1 this year. Chewy's addition to PAWZ brings the ETF's roster to 26 stocks. Chewy's wide assortment of products, competitive product prices, customizable and convenient automatic reordering, quick and efficient order delivery and top-notch customer service create a compelling customer value proposition, leading Chewy to capture a remarkable two-thirds of the online pet care industrys rapid annual sales growth in recent years, Wedbush analyst Seth Basham told Barron's . The global pet care industry could see a whopping $203 billion in sales by 2025. "Chewys IPO offers further evidence of investor interest in the pet care industry, driven by the global trend of the humanization of pets, said Steve Cohen, managing director at ProShares, in a statement. Investors are recognizing that pets are more than just loyal companions. They are big business. Story continues For more investment opportunities, visit our Core ETF Channel . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs Could Looming Supply Cuts Be Driving Bitcoin? The Elections and Your Portfolio The Secure Act and Retirement Accounts Pet Food IPO Chewy May Put Amazon On Its Heels Mark Cuban: Success Comes From Outworking Everyone READ MORE AT ETFTRENDS.COM > || Bitcoin dominance on the rise: Will altcoins recover?: If youve been following the most recent price action in the crypto markets, youre probably wondering whats going to happen within the next couple of weeks especially if youre holding some altcoins. Will the bull market be kind to the majority of cryptos like in 2017? Or will we see a sudden drop in interest around altcoins as Bitcoins market dominance continues to rise? Bitcoin and the broader cryptocurrency market underwent a sharp correction on Sunday , knocking more than $20 billion off the total market capitalisation in less than 24 hours. The pullback followed a brief period of consolidation that saw Bitcoin struggle to get back above the $12,000 mark. All of the top-20 coins reported losses on Sunday, with Bitcoin falling 6.9% to $11,155, according to TradingView. With the reversal, Bitcoins market cap has slipped back below $200 billion for the first time since last Thursday. Bitcoin dominance on the rise Even though many cryptocurrency enthusiasts and investors are still hoping for an altcoin bull season, the data shows that BTC market dominance is once again on the rise and it is showing no signs of slowing down. At the time of writing, Bitcoins market dominance is sitting close to 65%. What this shows us is that investors have been betting heavily on Bitcoin and are not so sure about altcoins even major ones. Apart from Litecoin and Binance Coin , most of the top-10 cryptocurrencies have been underperforming against Bitcoin during 2019. It seems some lessons have been learned from the ICO craze of 2017/18. Of course, we now have the rise of IEOs, which aim to disrupt how cryptocurrency projects raise funds by giving the gatekeeping power to exchanges entities that have proven time and time again to be untrustworthy. My guess is that Bitcoin market dominance will keep rising until it breaks new all-time highs. There is little evidence that shows an opposite path developing ahead, as most institutional investment is focusing on Bitcoin. Will altcoins recover? There are a couple of things I would like to focus on in this graph. First, lets take a look at that beautiful pink trend line that started at the top of the bull market in early 2018 and is still going today. What this shows is that bear markets are extremely painful for altcoin holders but that is not news. More interestingly, we can see theres a trend for Bitcoin to keep gaining dominance past 70%. If what I believe is correct and Bitcoin dominance grows another 10% before it stabilises, what will happen to altcoins? Well, for starters, I believe most will never recover. The ones that do will moon past previous highs as well. Story continues Another interesting indicator is the volume profile on the left, which shows us that Bitcoins dominance just crossed an important level: 60% dominance. This level had the most volume both from Bitcoin buyers and sellers. Now that volumes are super thin, I expect Bitcoin to reach $20,000 by the end of the year, and when price plateaus, new entrants will look toward altcoins for gains. We cant forget that one of the most important drivers of human behaviour is greed. FOMO is what pumps price past previous highs and is what brings new people into the market. Despite everyone, or mostly everyone, saying volatility is bad for Bitcoin and for the cryptocurrency market in general, they seem to forget that without great volatility, theres no room for huge price swings. And what attracts traders and new entrants the most? Precisely. Conclusion Bitcoin dominance is clearly on the rise, and it will keep going until it reaches a maximum of 80%. I believe that will happen close to the top of the current bull cycle , and afterwards well see investors and traders switching to altcoins for gains. If you want to get into the market, look at the top performers of 2019, like Litecoin (LTC) and Binance Coin (BNB), and think of what will happen to those coins when Bitcoin dominance declines. Im pretty confident their prices will go berserk and power past previous highs. Safe trades! The post Bitcoin dominance on the rise: Will altcoins recover? appeared first on Coin Rivet . View comments || Knowing the developers: an analysis of Litecoin Core: The next cryptocurrency up to bat in our Knowing your developers series is Litecoin. With its recent gains in the market, it has surpassed EOS, the last asset we covered in this series, and currently sits as the fifth-largest cryptocurrency by market cap.
Litecoin was created by Charlie Lee, who previously worked for the popular cryptocurrency exchange Coinbase. When discussing Litecoin, it is crucial to remember that it is a fork of the Bitcoin codebase, meaning it shares commit history with Bitcoin Core. When looking at its developer activity, issues arise in identifying who its real developers are because as GitHub data shows, the top developers listed for its project are all developers for Bitcoin Core.
Join Genesis nowand continue reading,Knowing the developers: an analysis of Litecoin Core! || Bitcoin Charts Hint At Price Pullback to Below $10K: • Bitcoin could fall below $10,000 this week as a strong sign of buyer exhaustion have emerged on the weekly chart in the form of “gravestone doji” candle.
• A bear cross of short-term moving averages and weakening buy pressure on the daily chart also suggest scope for a drop.
• The case for a price retreat into the four digits would weaken if bitcoin jumps above $12,450, invalidating a bearish pattern on the 4-hour chart. That would open the doors to a retest of the recent high of $13,880.
With the technical charts flashing signs of buyer exhaustion, bitcoin (BTC) risks falling to levels below $10,000 this week.
The top cryptocurrency by market value rose to a 17-month high of $13,880 last Wednesday only to end the week on Sunday (UTC time) with a 0.66 percent loss at $10,760, according to Bitstamp data.
Essentially, BTC created a candle called “gravestone doji” on the weekly chart, which comprises of tall upper shadow (marking a big gap between the open and high) and little or no lower shadow (meaning low and close are almost identical).
Related:Bitcoin, Facebook and the End of 20th Century Money
The narrative behind the candle is that buyers had pushed prices up to unsustainable levels during a specific period, then sellers ended up pushing prices back to the starting point.
This sort of price action, if witnessed following a stellar rally, is widely considered a sign of bullish exhaustion and an early warning of an impending price drop. That may well be the case here, as the gravestone doji formed after bitcoin reached 17-month price highs.
As a result, BTC could be quoted in four digits across cryptocurrency exchanges later this week. As of writing, the cryptocurrency is changing hands at $11,000 on Bitstamp, representing a 6.5 percent drop on a 24-hour basis.
It’s worth noting investors may view any pullback to levels below $10,000, as just another chance to get involved in the bull market. After all, a number of bullish price drivers are lined up over the next few months, according toAlex Kruger, a prominent technical and fundamental analyst.
Related:Bitcoin Heading for Fifth Month of Gains Despite Price Correction
BTC created a gravestone doji last week with the biggest red volume (selling volume) bar since November.
Further, the candlestick has appeared following a near 90-degree rise from levels near $4,000 seen at the beginning of April and the relative strength index (RSI) continues to report overbought conditions with an above-70 print. Therefore, the case for a price drop to $10,000 looks strong.
It is worth noting that the 5- and 10-week moving averages are still trending north, indicating a bullish setup. As a result, the averages, currently located at $9,840 and $8,757, could fuel a price bounce.
As seen on the daily chart (above left), the Chaikin money flow index has retreated sharply from 0.39 to 0.19 in the last five days – a sign of weakening buying pressure. The oscillator takes into account both the price and trading volume to gauge buying and selling pressures.
The 5- and 10-day MAs are also teasing a bearish crossover. Over on the 4-hour chart, meanwhile, the cryptocurrency has carved out a bearish lower high at $12,448.
Overall, both charts are aligned in favor of a short-term drop to levels below $10,000. The bearish case, however, would weaken if the price breaks above $12,448 with high volumes. In that case, BTC could revisit the recent high of $13,880.
Disclosure:The author holds no cryptocurrency at the time of writing
Chartimage via Shutterstock; charts byTradingView
• Down $1.7K: Bitcoin’s Price Dives Amid Crypto Market Boost
• ShapeShift Founder Says Crypto Exchange Service Will Support Libra || Blockchain Adds PAX Stablecoin to Mobile Wallet: One of the cryptocurrency industry’s most popular wallet providers , Blockchain, is adding support for the dollar-pegged stablecoin PAX to its mobile wallets this week as part of a broader strategy to grow usage. The head of Blockchain’s wallet department and strategy, Xen Baynham-Herd, told CoinDesk the company eventually plans to enable fiat redemptions as well, through upcoming partnerships. Charging small fees on such swaps is how the startup turns a profit. “Doing the stablecoin project here with PAX is a really big deal because it’s not just that we are adding a new asset, it’s adding a true dollar balance into the wallet,” Baynham-Herd said of the company’s first stablecoin integration, adding: How MakerDAO Works: A Video Explainer “Anyone with an internet connection can download a wallet and get USD funds, essentially. … People everywhere can now have access to all sorts of assets the same way they can access all sorts of information.” By Monday, users will already be able to swap assets like bitcoin, ether or stellar for PAX within the wallet itself. While Baynham-Herd declined to say when fiat and traditional assets might be scheduled to arrive, demand for such offerings is already starting to percolate. PAX issuer Paxos, a New York-based startup, also has a commodities-focused operation near Blockchain’s London headquarters. Paxos CEO Chad Cascarilla told CoinDesk the gold-pegged asset Pax Gold, which can be redeemed for physical bars of gold from a London warehouse, has already garnered $700 billion worth of trades with 55 institutions since it launched roughly 10 months ago. Baynham-Herd said Blockchain is open to exploring options like Pax Gold, in addition to other stablecoins beyond PAX, because it will allow traditional assets to transcend national borders the way bitcoin already does. Such partnerships could have widespread implications for retail users. Telegram-Based Crypto Wallet App Now Allows Fiat Purchases Story continues Stepping back, Blockchain’s wallets account for 22 percent of all on-chain bitcoin transactions, according to a tweet by Blockchain CEO Peter Smith. Yet the ways Blockchain collects demographic information about these transactions is considered, by some, to be controversial. Global distribution Baynham-Herd said there are roughly 38 million wallet signups and millions of active monthly users, more than half of whom are located outside the United States. Baynham-Herd said Russia, Nigeria, Brazil and Argentina are home to some of the company’s largest user bases. Like many wallet providers, Blockchain wallets aggregate IP information based on the users’ internet connection. The wallet provider also provides optional KYC verification for users who want in-wallet trading capabilities or access to perks like the stellar airdrop last November. Baynham-Herd said “tens of thousands” of users now submit KYC information every month. Bitcoin advocate Udi Wertheimer told CoinDesk he would prefer Blockchain to prioritize Tor integrations and encourage users to do KYC with new accounts instead. “Potentially linking years of bitcoin activity to real-world identity just to get $5-worth of stellar doesn’t bode well for the privacy of end-users,” Wertheimer said. Speaking to this criticism, Baynham-Herd said: “We only collect very minimal information on users.” In the meantime, a company spokesperson said Blockchain is hiring aggressively, growing from roughly 60 employees to around 150 over the past year and looking for nearly 50 more positions this summer. “We’re always hiring,” Baynham-Herd confirmed, adding: “Engineers, product, trading-related positions, the whole spectrum.” Blockchain wallet image via Shutterstock Related Stories Project Libra: Everything We Know About Facebook’s Cryptocurrency MakerDAO Finally Approves DAI Fee Decrease After 11-Day Deliberation || 2019 AP Stylebook Provides Guidelines for Writing Blockchain-Related Terms: Major New York news outlet, the Associated Press (AP) has announced that its latest version of The Associated Press Stylebook and Briefing on Media Law has a new section on cryptocurrencies in an official Twitter post on May 29. According to the new AP style guidelines, which constitute a popular standard for professional publications, writers should capitalize the names of cryptocurrencies when referring to them as a system but should keep the first letter lowercase when referring to token payments. They provided the following two sentences as examples: “The government wants to regulate Bitcoin , Ethereum and other cryptocurrencies. He bought a vacuum cleaner online using bitcoins.” This example in the Twitter post is pulled from the 2019 AP Stylebook’s entry on cryptocurrency. One of the other recommendations from its cryptocurrency entry is to avoid referring to cryptocurrency as “crypto” in order to circumvent ambiguity or confusion with the term “cryptography.” In addition to cryptocurrency, the 2019 AP Stylebook — which was also announced for sale via Twitter on May 29 — additionally has entries on blockchain and Bitcoin, which provide definitions for the terms and explains how they are related. Last year, the Associated Press partnered with journalism platform Civil to protect AP content using blockchain technology. Related Articles: Most Major Coins See Red as Market Corrects Downward, Gold in the Green Cryptocurrency Broker Client Reportedly Aims to Acquire 25% of All Bitcoin Supply Bitcoin and US Stock Market Both See Minor Losses Computer Researcher Finds Wallet Vulnerability That Gave Same Key to Multiple Users || It’s Risk Off Early as Focus Shifts to Service Sector PMIs Numbers: Earlier in the Day: The economic calendar was on the lighter side through the Asian session in the earlier hours of this morning. Australia building consents and trade figures and China’s June service sector PMI were in focus through the early part of the day. For the Aussie Dollar Building consents rose by 0.7% in May, month-on-month, partially reversing a 4.7% slide in April. Economists had forecasted for consents to remain unchanged. According to figures released by the ABS , Private dwellings excluding houses rose by 1.2%, while private house approvals decreased by 0.3%. A 14.4% jump in approvals in Victoria drove the increase in May. Falls in Queensland (-6.3%), Western Australia (-4.7%), South Australia (-2.9%) and Tasmania (-1.2%) partially offset the increase. Australia’s trade surplus widened from A$4.871bn to A$5.745bn in May. Economists had forecasted for the trade surplus to widen to A$5.250bn. According to figures released by the ABS , The exports of goods and services increased by A$1,442m (4%). Non-rural goods exports increased by A$1,316m (5%), with the export of rural goods and non-monetary gold rising by A$46m (1%) and A$22m (1%) respectively. Net exports of goods under merchanting fell by A$1m (5%). Service credits increased by A$58m (1%). The imports of goods and services increased by A$515m (1%). Capital goods imports increased by A$348m (5%). There were also increases in the imports of non-monetary gold and intermediate and other merchandise goods of A$68m (17%) and A$66m (1%) respectively. Consumption goods imports fell by A$73m (1%). Service debits rose by A$107m (1%). The Aussie Dollar moved from $0.6891 to $0.69908 upon release of the figures, which preceded China’s service sector PMI figures. Out of China The Caixin Services PMI fell from 52.7 to 52.0 in June. According to the latest Caixin China Survey , Service sector companies reported a moderate pickup in new work in June, supported by state policies. Increased client spending also contributed. Employment levels remained unchanged, while the amount of work-on-hand continued to fall. Operating costs were on the rise, with higher staff expenses and increased purchasing activity contributing. Service sectors increased selling charges at the fastest pace in 3-months. Service companies remained strongly optimistic about the economic outlook. At composite level, however, optimism fell to a record low, weighed by the manufacturing sector. China’s Caixin PMI fell from 51.5 to 50.6 in June, its weakest level since last October. The Aussie Dollar moved from $0.69908 to $0.69902 upon release of the figures. At the time of writing, the Aussie Dollar was down by 0.03% to $0.6992. Story continues Elsewhere At the time of writing, the Kiwi Dollar was up by 0.13% to $0.6682, with the Japanese Yen up by 0.28% to ¥107.58 against the U.S Dollar. Risk off sentiment through the earlier part of the day contributed to the moves, dampening the effects of positive numbers out of Australia. The Day Ahead: For the EUR It’s a particularly busy day ahead on the economic data front. Spanish and Italian service sector PMI numbers are due out ahead of finalized French, German and Eurozone service sector PMI numbers. We can expect the markets to focus on the Eurozone’s composite. While Germany and Italy’s manufacturing sectors are key to growth, service sector activity has provided much-needed support to the Eurozone economy. Weak numbers would certainly weigh on the EUR. At the time of writing, the EUR was up by 0.05% to $1.1291. For the Pound The UK services PMI is due out later this morning. We can expect the Pound to respond to the numbers. Uncertainty over Brexit is expected to weigh on the economy in the 2 nd quarter. Weak numbers would further tame any hawkish chatter from the BoE near-term. Outside of the stats, the leadership race will also remain in focus. At the time of writing, the Pound was down by 0.01% to $1.2592. Across the Pond It’s a busy day ahead on the economic calendar, while it’s a half day for the markets ahead of tomorrow’s 4 th July holiday. Key stats due out of the U.S include June ADP nonfarm employment change figures and May trade data in the early afternoon. Later in the day, factory orders and finalized Markit service sector PMI and the ISM’s June Manufacturing PMI are due out. We can expect the ISM June manufacturing PMI and ADP numbers to be the key drivers on the day. Outside of the stats, geopolitical risk will continue to be a key driver mid-week. At the time of writing, the Dollar Spot Index was down by 0.02% to 96.705. For the Loonie May trade data will be of influence mid-week. We can expect the Lonnie to be particularly sensitive to the numbers ahead of next week’s BoC monetary policy decision. EIA crude oil inventory numbers will also provide direction late in the day. The Loonie was flat at C$1.3108, against the U.S Dollar, at the time of writing. This article was originally posted on FX Empire More From FXEMPIRE: GBP/USD Daily Forecast – British Pound Range Bound in Holiday Thinned Trading Gold Forecast Bullish as Traders Remain Sceptical Crazy Time in Bond Land – Buy Everything Part 2 Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 04/07/19 Geopolitics Likely to Take Center Stage with Stats on the Lighter Side S&P 500 is eyeing 3000 View comments || Investors May Want to Consider Nibbling at Emerging Markets ETFs: This article was originally published on ETFTrends.com. Amid increasing trade tensions between the U.S. and China, it is not surprising the MSCI Emerging Markets Index is feeling some pain this month. However, risk-tolerant investors may want to revisit exchange traded funds, such as the iShares MSCI Emerging Markets ETF ( EEM ) or iShares Core MSCI Emerging Markets ETF ( IEMG ) , to position for a rebound in developing world equities. “Reasons for caution are everywhere. Developing-nation stocks are headed toward their worst month since October, while 21 out of 24 currencies tracked by Bloomberg are down in May as investors scale back their exposure to risk,” reports Bloomberg . Investors are increasingly emphasizing low cost a prime motivator for allocating capital in 2019, which makes ETFs like IEMG an attractive option. The fund provides this core EM exposure at a paltry 0.14 percent expense ratio. IEMG tracks the cap-weighted MSCI Emerging Markets Investable Market Index and holds over 2,200 stocks. IEMG debuted in October 2012 as part of the iShares lineup of core ETFs targeted at cost-conscious buy-and-hold investors. Signs of Life in Emerging Markets Investors are beginning to look at EM opportunities as substantial markdowns, especially if trade negotiations between the U.S. and China result into something materially positive. From a fundamental standpoint, low price-to-earnings ratios in emerging markets ETFs have made them prime value plays as capital inflows continue. IEMG’s geographic lineup is similar to the MSCI Emerging Markets Index as the fund devotes over 56% of its combined weight to China, South Korea and Taiwan. Later this year, Argentina and Saudi Arabia join the MSCI Emerging Markets Index, meaning IEMG will eventually feature exposure to those countries. “In equities, JPMorgan Asset Management says it makes sense to bet on companies that depend more on the domestic market and are, therefore, protected to some extent from a trade slowdown,” according to Bloomberg. Story continues In the second quarter, two of the top four ETFs in terms of assets lost are emerging markets funds. “Flows into emerging markets are highly sensitive to external risk factors such as global growth, changes in monetary policy in the U.S. and a general market sell-off,” according to CNBC . “Add to that domestic factors such as high current account deficits, weak currencies and a dependence on commodities, then these markets can make for a risky investment.” For more market trends, visit ETF Trends . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs 8 High Flying Biotech ETFs for 2019 U.S. Markets Fall Swiftly Before Close On Renewed Trade Fears 5 REIT ETFs To Consider For Long Term Profits $30,000 Bitcoin By The End Of The Year? Bitcoin Up 3.16% as it Gains Tenability As Alternative Currency READ MORE AT ETFTRENDS.COM > || Binance CEO Skips Lunch Invite With Bitcoin Basher Warren Buffett: Binance's billionaire CEO Changpeng Zhao is sitting out TRON founder Justin Sun's $4.5 million lunch date with Warren Buffett. | Source: Binance/TRON/Shutterstock; Edited by CCN By CCN : It appears that Justin Suns Crypto Avengers are going to be short one hero. Binance CEO Changpeng Zhao (CZ) has turned down the enthusiastic Tron creators offer of attending his $4.5 million lunch with Bitcoin hating Warren Buffett . Warren Buffett, CZ Binance, Justin Sun CZ doesnt want to attend Suns Lunch with Buffet, but thinks Anthony Pompliano should go in his place. Source-Twitter Bitcoin Evangelist Is Keen to Meet Warren Buffett It is undeniably a blow for Justin Sun that the CEO of the worlds largest Cryptocurrency Exchange will not be in attendance for his big moment with Buffett. After CZ gave his shout-out to Blockchain and Crypto evangelist, Anthony Pompliano, the Pomp was quick to invite himself to the Sun-Buffett shindig. Pompiliano Buffett Binance CZ The Pomp accepts. Source-Twitter Err, might want to wait for the phone-call before you start checking your diary, Anthony. Anthony Pompliano Snubs Justin Sun In His Crypto Dream Team Pompliano is a person the Binance CEO respects. Unfortunately, it doesnt seem that Pomp thinks too highly of TRXs founder. APs blockchain dream-team was notable for its lack of Mr. Sun. Read the full story on CCN.com .
[Random Sample of Social Media Buzz (last 60 days)]
#DOLAR
#DolarTL
#bist
#bist100
#usdtry
#USDTRY
#XU100
#𝒷𝑒𝓁𝑒𝓃𝓈𝒶𝓎 2012
#doge #dogeusd
#btc #btcusd
Afrikada havalar nasıl gözlüklü maymun😂gözlüklü Maymunu takip ettim onu gizli takip edip kopyala yapıştır yapıyor gözlüklü MAYMUN😂HIRGIZ SOYTARI ZATEN MAYMUN HIRGIZ OLUR || @xrpemonty @HammerToe Matt is always great; couldn’t understand Bitcoin (Litecoin) Ben! || This is so marvellous! This project will undoubtedly be the out front in my rating. #Shato || @realDonaldTrump Buy Bitcoin !!! || @RussellOkung Im worried all my Vikings are spending their time playing video games on wombo sports instead of studying the greatest transfer of wealth in history. @KirkCousins8 @HarriSmith22 @DMORGII @XavierRhodes29_ my dms are open if you want some free BTC and intro || @TXORONTO @vilacamoreira @vergecurrency Binance experts say that BTC is bullish again . I know close group with buy/sell . And it is free for one week !
Look --> https://t.co/dvgpljofsA
⭕ 1239615055 || 【BTC】
注意書きの通りの展開だよね
万が一、底ショートし焼かれてしまった人がいたなら痛みから学びましょう
ウチのサロンこんな感じです
お待ちしてます😊10日締め切りね
＃BTC ＃FX
https://t.co/tx9Ud7QuFR https://t.co/wSvMiNNwNj || @AutoArmourr btc :((( || BITCOIN futures: 10,905 (+925). || British Bitcoin scammer nets $50M running fake Bitcoin trading site https://t.co/aACpACnfzM #tech
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Trend: up || Prices: 9811.93, 9911.84, 9870.30, 9477.68, 9552.86, 9519.15, 9607.42, 10085.63, 10399.67, 10518.17
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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 for 2022-05-31]
BTC Price: 31792.31, BTC RSI: 51.15
Gold Price: 1842.70, Gold RSI: 43.86
Oil Price: 114.67, Oil RSI: 59.45
[Random Sample of News (last 60 days)]
Don’t Get Too Excited SHOP Stock Investors, Shopify Bitcoin Payments Won’t Move the Needle: CanBitcoin(BTC-USD) save troubled e-commerce companyShopify(NYSE:SHOP)?
At this year’s Bitcoin Conference in Miami, Florida, it was announced that Shopify will facilitatedigital paymentsacross the Bitcoin Lightning Network. Going forward, merchants who use Shopify’s global network will be able to send and receive payments using the Bitcoin Lightning Network. Shopify merchants must “opt-in” to do so.
The news caused some initial excitement among SHOP shareholders and investors. However, the announcement that Shopify will integrate Bitcoin payments into its merchant network raises more questions than it answers, and the move is unlikely to help the Ottawa, Canada-based company in the near-term as its struggles with lagging sales and slowing growth coming out of the pandemic.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
While Shopify currently has an estimated1.75 million merchantsworldwide who use its services to run their websites and facilitate online sales, it is not clear how many of them will opt-in to transact in Bitcoin rather than cash. The addition of cryptocurrencies is completely optional and, right now, most businesses still prefer payment the old fashioned way — in legal tender.
Also, the Bitcoin payment scheme is already raisingpotential legal issuesfor Shopify, with several industry analysts and lawyers saying the move could draw the ire of regulators, notably the U.S. Securities and Exchange Commission (SEC), which is threatening to regulate the entire cryptocurrency sector. Regulators in Europe and Asia may also scrutinize Shopify’s plans to facilitate Bitcoin transactions and the potential tax implications of doing so.
More immediately, the Bitcoin payment scheme is unlikely to solve Shopify’s urgent need to bolster its declining sales and stalled growth. SHOPstock has fallen 65%from its peak last November to now trades around $610 per share. The stock took a nosedive following the company’s fourth-quarter earnings release this past February, when management forecast a revenue slowdown this year.
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For thefourth quarter of 2021, Shopify posted revenue of $1.38 billion, which beat Wall Street estimates of $1.34 billion. Earnings-per-share (EPS) came in at $1.36, beating analyst expectations of $1.27 a share. However, Shopify warned that revenue growth this year would be slower than the 57% achieved in 2021 due to the removal of government stimulus measures and concerns that consumer spending is slowing as inflation remains elevated.
While Shopify and its shareholders benefitted greatly during the pandemic when businesses had their brick-and-mortar stores shuttered and were forced online, that trend is now reversing and SHOP stock has been falling as a result. While the addition of Bitcoin transactions is interesting, it is unlikely to reverse the downward trajectory in Shopify’s business model or its share price. Investors should stay away.
On the date of publication, Joel Bagloledid 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.
Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia.
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The postDon’t Get Too Excited SHOP Stock Investors, Shopify Bitcoin Payments Won’t Move the Needleappeared first onInvestorPlace. || Bitcoin Miner CleanSpark Raises $35M in Equipment-Backed Debt From Trinity Capital: 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 miner CleanSpark (CLSK) has raised $35 million in equipment financing, backed by 3,336 new S19j Pro bitcoin miners from Trinity Capital (TRIN), a provider of venture debt financing. The Henderson, Nevada-based sustainable miner will use the proceeds from the financing for growth capital. As we mentioned in our Q1 earnings call, debt capital is currently the lowest cost of capital available to the Company, said Gary Vecchiarelli, chief financial officer of CleanSpark, in a statement. We intend to continue our efforts of obtaining non-dilutive capital to finance our growth [capital expenditure] needs, he added. On CleanSparks earnings call in February, the company said that it prefers to raise capital by issuing rig-backed debt and that the company is in active talks with lenders. Other options include monetizing some of the company's bitcoin (BTC) holdings via sales and/or yield. The financing comes at a time when miners are looking to get creative with their financing as capital markets remain somewhat constrained after bitcoin prices came down from their peak last year. Using specialized bitcoin mining computers, called ASICs, as collateral for loans has become popular among miners to fund their growth plans. All the options available for the miners in terms of financing have fundamentally changed over the last year, Mas Nakachi, head of crypto finance firm XBTOs mining operations, told CoinDesk in a recent interview. I think miners are starting to get more comfortable with equipment-based financing, he added. Among other lending products, XBTO provides financing to miners through asset-backed loans, as well as using bitcoin as collateral. Most recently, Australian bitcoin miner Iris Energy (IREN) said that it has secured $71 million in equipment financing from institutional bitcoin broker NYDIG with a 25-month term and 11% interest and backed by 19,800 Bitmain S19j Pro miners. Meanwhile, in March, NYDIG also provided about $81.4 million in S19 J Pro-backed loans to miner Greenidge Generation (GREE). Story continues CleanSparks loan has a three-year term and carries an annual interest rate of 9.9%. The terms are similar to loan financing done by Trinity Capital last year, where it lent another crypto miner, Hut 8 (HUT), a $30 million equipment-backed loan, with a three-year term and 9.5% interest. We are excited to partner with the team at CleanSpark, which is on a mission to mine bitcoin responsibly, using a mix of sustainable energy including nuclear, hydroelectric, solar, and wind, said Ryan Little, managing director of equipment financing at Trinity Capital, in a statement. Read more: Scaramuccis SkyBridge Starts Fund for Bitcoin Mining || Bank of England's Bailey says crypto is the 'new frontline' for scams: Bank of England (BoE) governor Andrew Bailey has said that cryptocurrencies are the new "front line" in criminal scams that financial regulators are trying to prevent.
Bailey, speaking at a "Stop Scams" conference organised by the UK central bank, said the underlying tech of crypto was contributing to innovation in financial services, but also created an "opportunity for the downright criminal".
"You only have to ask the question: What do people committing ransom attacks usually demand payment in? The answer is crypto," Bailey said.
It comes after Britain's city watchdog last week extended a deadline for approving crypto businesses, giving a dozen firms more time to get their applications in order. So far, 33 firms have been approved by the watchdog, allowing them to continue providing crypto services from within the UK after 1 April.
The Financial Conduct Authority (FCA) said firms on its temporary register of cryptoasset businesses will be given additional time if they can show they require it. Companies can do this by providing more information for their application, pursuing an appeal against the FCA’s decision or winding down their operations.
Read more:FCA extends crypto registration deadline for some firms
However, despite the extension, the cryptocurrency industry has warned that UK's fintech market faces a cryptocurrency exodus as more than 60 firms were rejected or withdrew their application to the FCA.
This risks firms moving their operations abroad if they can't gain regulatory approval by meeting strict anti-money laundering rules. Those that choose to relocate outside Britain will mostly be free to keep serving their UK customers from offshore.
But, Bailey accused some crypto users of acting as though they can disregard national rules and aren't cooperating on sanctions against Russia.
"Some crypto enthusiasts say they shouldn't be covered by Russian sanctions because that's not their world. I'm sorry, it is your world. We're all in the same world," he said.
The governor urged banks, tech companies, and government institutions to work with the BoE to tackle scams against consumers, which he acknowledged was a job that "will never be done".
The crypto market, now worth $2.1tn (£1.6tn) is larger than the $1.2tn market of sub-prime mortgages that triggered the global financial crash in 2008.
Bitcoin (BTC-USD) and the world's second largest crypto by market cap etheruem (ETH-USD) were down 0.6% to $46,070 and 0.7% to $3,464 respectively on Monday.
Meanwhile, the Treasury announced on Monday that chancellor Rishi sunak has asked the Royal Mint to create a non-fungible token (NFT), which is to be issued by this Summer.
It said the NFT was part of its forward approach to cryptocurrencies.
Britain has set out a "detailed plan" to exploit the potential of cryptoassets and their underlying blockchain technology to help consumers make payments more efficiently.
As part of creating a global cryptoasset hub, City ministerJohn Glen saidthe UK will make it legal to bring some stablecoins under the regulatory umbrella. Glenn added the government will consult on creating regulations for a wider set of cryptoasset activities later in 2022.
Stablecoins are a class of cryptocurrencies that attempt to peg their market value to some external reference such as the US dollar or a commodity's price like gold to offer price stability. || 7 Cheap Biotech Stocks to Buy Now: This article covers seven cheap biotech stocks for investors with a high risk tolerance. ImmunityBio ( IBRX ): Boasts an extensive pipeline that covers multiple chronic conditions. Selecta Biosciences ( SELB ): Clinical-stage biotech with truckloads of cash to take its novel immune tolerance platform past the finish line. Bluebird Bio ( BLUE ): Speculative biotech with a colossal growth runway if the FDA gives its gene therapies the green light. Vistagen Therapeutics ( VTGN ): Unique portfolio of therapeutics which target the nervous system in an industry set for tremendous growth ahead. BioNano Genomics Inc ( BNGO ): This meme stock could develop a long-term recurring revenue-generating machine with its genome image editing tool. Verastem ( VSTM ): This startup develops novel cancer treatments with the goal of delivering the best-in-class RAS pathway product. BioCryst Pharmaceuticals ( BCRX ): Biotech with a robust rare disease drug portfolio and strong liquidity. Biochemical/biotech research scientist team working with microscope Source: Mongkolchon Akesin / Shutterstock.com Amidst immense market volatility, investors favor value-oriented sectors to minimize risk. Hence, pre-revenue firms burning truck-loads of cash on their product pipelines have suffered. Most biotech stocks fall under this category which is going all-in researching ground-breaking potential cures. Investing in cheap biotech stocks is a wager on their long-term potential and is a strategy that might not be for the faint of heart. The biotechnology sector received massive cash injections during the pandemic years, which helped move the needle for biotech stocks. However, the industry has cooled off considerably amidst investors rotating out of growth stocks. Moreover, drug pricing issues, rising inflation rates, and unsuccessful trials have also contributed to the slowdown. Nevertheless, investors are hopeful that the sector will perform well this year. A study conducted by financial services firm RBC states that 66% of investors believe the biotech industry will outperform this year. Moreover, 58% of survey participants said they would “increase their exposure to the sector.” Story continues InvestorPlace - Stock Market News, Stock Advice & Trading Tips 7 Undervalued Stocks to Buy Before Investors Catch On Here are my top seven biotech stocks to buy now: IBRX ImmunityBio, Inc. $3.79 SELB Selecta Biosciences, Inc. $0.78 BLUE bluebird bio, Inc. $3.32 VTGN VistaGen Therapeutics, Inc. $1.14 BNGO Bionano Genomics, Inc. $1.64 VSTM Verastem, Inc. $1.20 BCRX BioCryst Pharmaceuticals, Inc. $8.78 Biotech Stocks: ImmunityBio ( IBRX ) A variety of pills, pill bottles, and droppers arranged on a table in multiple bright colors. Source: Shutterstock ImmunityBio (NASDAQ: IBRX ) is an interesting biotech stock with the potential to blow up in the future. A lot has to do with its extensive pipeline, which caters to various conditions. There are currently over 20 ongoing trials, many of which are in the latter stages of clinical development. Some of the treatments in its pipeline are for chronic diseases, such as cancer and HIV. Its core drug candidate Anktiva is being explored for non-muscle invasive bladder cancer (NMIBC) patients. The company recently reported data on a late-stage trial for Anktiva . 83 patients with NMIBC had taken part in the trial over results compiled over 24.1 months. The response rate came in at 71% for the drug, significantly higher than other therapies in the market and development. Moreover, the drug was well-tolerated without any safety troubles. Additionally, IBRX has goals to develop potential treatments for multiple ailments, including HIV, Covid-19 and other conditions, which could result in massive sales down the line. Selecta Biosciences ( SELB ) an image of a microscope Source: Shutterstock Selecta Biosciences (NASDAQ: SELB ) is clinical-stage biotech company based out of Boston. It focuses on developing drug candidates using its novel immune tolerance platform, ImmTOR, which reduces undesirable immune responses to promote antigen-specific immunity. Autoimmune diseases are currently treated using immunosuppression techniques linked with several side effects, leaving patients at risk of serious infections. Selecta’s approach is unique and looks to restore natural self-tolerance. The company has multiple pipeline assets and partnerships to develop its therapies with larger drug companies. Nonetheless, its pipeline is mainly in its early stages, with one exception. The SEL-212 is one of its key clinical product candidates, which is currently in the third phase of development for treating chronic refractory gout. 7 Oil Stocks to Buy With Safe Dividends The company recently reported its results, which showed a healthy cash balance of $118.8 million . It has enough organic resources to take its pipeline candidates past the developmental finish line. Biotech Stocks: Bluebird Bio ( BLUE ) Bluebird Bio biotech company logo on phone screen. BLUE stock. Source: rafapress / Shutterstock Bluebird Bio (NASDAQ: BLUE ) is another speculative biotech with an incredible growth runway if the U.S. Food and Drug Administration (FDA) greenlights its gene therapies. It targets three FDA approvals within the next couple of years, barring any unforeseen events. The company has struggled to get going in the past, but over the last few years, it seems to have turned a corner. The three therapies under question are for beta-thalassemia, cerebral adrenoleukodystrophy, and sickle cell disease. Therapies for the first two diseases could be approved by the FDA this year, while sickle cell therapy could go through by 2023. Though it’s still a speculative scenario, the biotech could have three revenue drivers by next year. Moreover, if it obtains priority vouchers for either of these therapies, they can be sold to other upstarts for $100 million each to speed up their approval process. Vistagen Therapeutics ( VTGN ) doctor holding tablet with graphic of dna Source: Shutterstock Vistagen Therapeutics (NASDAQ: VTGN ) primarily focuses on treatments related to the nervous system. Some of the conditions its pipeline covers include epilepsy, addiction, ADHD, and other related issues. The anxiety and depression treatment industry will likely increase to $19.81 billion by 2028, growing at a steady 2.4%. The 7 Best Long-Term Stocks to Buy Now This company has gained a lot of traction for anti-anxiety nasal spray, which could offer a quick fix for reducing anxiety during stressful activities. It has also been awarded a patent in South Korea for its major depressive disorder candidate called PH10. Its synthetic nasal spray is entering phase 3 trials and is on the path toward approval, leading to strong gains for VTGN stock. Moreover, with cash equivalents of roughly $83.7 million and effective expense management, the business has enough liquidity to continue funding its research and development costs. Biotech Stocks: BioNano Genomics Inc ( BNGO ) Bionano Genomics (BNGO) company logo on a website with blurry stock market developments in the background Source: Dennis Diatel / Shutterstock.com BioNano Genomics Inc (NASDAQ: BNGO ) caught most investors’ eyes after it became a meme stock and climbed over 1,500% in value within a couple of months in February 2021. However, in the past six months, the stock has had a rough outing in the market. Despite its risks, it has catalysts that could turn things around for its business in the coming years. Its flagship product is its genome imaging tool called Saphyr . It allows healthcare professionals to save costs and time in detecting and analyzing genomes. The product retails for roughly $150,000 and includes various consumables. These add-ons include reagents, data analysis tools and chip consumables, which can offer a recurring income stream for the enterprise. An encouraging figure is that the installed base for Saphyr systems was up 64% during the first quarter to 176. Verastem ( VSTM ) A close-up concept image of a tiny glass vial with a strand of DNA in it. Source: Shutterstock Verastem (NASDAQ: VSTM ) is a Massachusetts-based biotechnology startup that develops cancer treatments. The company is looking to make inroads in treating ovarian and lung cancers. It has laid out plans to further the development of its lead compound, an oral drug called VS-6766. It plans to report several data readouts highlighting the drug’s potential across tumor types and mutations. The goal is for the drug to become the best-in-class RAS pathway product. The 7 Best Energy Stocks to Buy Now Verastem revealed results for a Phase I/II study in treating ovarian cancer, which showed a 46% partial response rate . Moreover, it has also partnered with Amgen (NASDAQ: AMGN ) to evaluate the impact of VS-6766 in treating a particular type of lung cancer. 2022 could potentially be a breakthrough year for VSTM stock for big gains. Biotech Stocks: BioCryst Pharmaceuticals ( BCRX ) BioCryst Pharmaceuticals logo on a webpage. BCRX stock. Source: Dennis Diatel / Shutterstock BioCryst Pharmaceuticals (NASDAQ: BCRX ) is a North Carolina-based pharma business best known for developing its antiviral influenza drug called Peramivir. Additionally, it is also working on Galidesivir, an antiviral drug to treat rare illnesses, such as Yellow Fever and Zika. It launched an oral treatment for hereditary angioedema during the first quarter called Orladeyo. The biotech focuses on developing a rare disease drug portfolio, often ignored by top pharma companies, which could generate millions in revenue. The market for such drugs is typically small, but it also attracts significantly less competition. Moreover, in its first quarter, its sales doubled to $49.7 million , a 161% bump in sales from the same quarter last year. If it can continue on this upward trajectory, it could be looking at an incredible road ahead. 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 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 7 Cheap Biotech Stocks to Buy Now appeared first on InvestorPlace . || Reasons You Might Not Get a Tax Refund This Year: The year 2020 was historically bizarre (to put it kindly), but 2021 wasn’t exactly smooth sailing. Sure, the U.S economy partly rebounded from the initial blows of the pandemic; and, for a precious few months, it looked like COVID may be waning — but behind the scenes, complex governmental changes were underway. Oh, and the pandemic definitely did not end; in fact, it got worse, with more people dying from the virus in 2021 than the year prior.
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While the pandemic raged on, Congress got busy building strategies to help Americans stay afloat. In March 2021, it passed the $1.9 trillion American Rescue Plan Act — a kind of expansion on the $2.2 trillion CARES act passed in March 2020. Under the new plan, citizens received various aid, some of which is now coming back to haunt theirtax returns. In other words, the benefits we received as part helped lessen our burden to the federal government, which in turn could lower the amount we’re entitled to as a tax refund.
Here’s a look at all the reasons you may not be getting a refund this year.Most of them are beyond your control, but there are cases where you should definitely follow up directly with the IRS.
“Many families will recall that, starting in July 2021, they started receiving monthly deposits (or checks) from the IRS as part of the government’s COVID-relief measures,” saidTaylor Hoffman, an investment advisor and director of financial planning. “These payments were unlike the stimulus payments received throughout 2020 and 2021, in that they were actually partial prepayments of the child tax credit that many families receive on their tax return each year (whereas the stimulus payments were more like free money).”
The child tax credit is a dollar-for-dollar write-off on your tax bill, Hoffman explained: “So, in other words, the IRS was paying people up front for a tax credit they would have otherwise received when they filed their taxes.”
Last year’s child tax credit may cause some people to not get a refund because the IRS paid families up to half of their eligible child tax credit.
“Therefore,” Hoffman said, “when those families go to file their taxes, they will only have half of the credit left to use as a write-off.”
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“U.S stocks had a fantastic year in 2021, with the S&P 500 returning nearly 29%. Other assets like cryptocurrencies boomed, with Bitcoin gaining 60% in 2021 and Ethereum returning nearly 400%,” said Scott Caufield, principal atSophos Wealth Management. “Investors who realized some of their gains might find their taxes increasing quite a bit this year. Owners of mutual funds might be surprised to find they received capital gains distributions in 2021 that they will owe taxes on.”
“The moratorium on payments has been extended into mid-2022 by the Biden administration,” said Ryan McCarty, owner/CEO ofMcCarty Money Matters. “This has been a saving grace throughout the pandemic, (but) paying no student loan interest means no student loan deduction. Depending on how much interest you pay in a given year, this can be either a negligible or sizable difference year over year in your overall tax picture.”
“Unemployment income is a big one and presently on everyone’s minds,” McCarty said. “In 2021, we saw a taxable exclusion on the first $10,200 of unemployment income received in 2020. This so far is not the case in 2022. If someone received only unemployment during 2021, the results may be negligible as your first dollars received are taxed at extremely low rates. If this was in addition to income received by a new job/endeavor, it could add a nice chunk of dollars that had no withholding.”
“If you supplemented your lost income in 2021 by working as a contractor and received 1099s rather than W-2s, we can only hope you set some aside to pay for your self-employment tax rates,” McCarty said. “This is certainly an eye opener for those that have never dealt with such things.”
“If you didn’t work the entire year, either due to quitting or layoffs — both extremely relevant during 2021 — you will find yourself with less tax withheld from your check,” McCarty said. “If you did not adapt your withholding properly along the way via your W-4 with employers, you could be exposed to a vastly different number compared to years past.”
“Selling cryptocurrency or trading cryptocurrency for another cryptocurrency is considered a sale of property, and any gain is subject to capital gains tax,” said Yvette D. Best, owner ofBest Tax Solutions LLC. “Cryptocurrency transactions typically result in short-term gains (tax on profits from the sale of an asset held for a year or less) and the capital gains tax rate is equal to your ordinary income tax rate.”
“Identity theft is on the rise,” said Steven Jager, CPA and partner withFineman West. “When someone files a tax return electronically using someone’s Social Security number (illegitimately), and then the ‘real’ tax return is filed legitimately, it is rejected. It must then be filed on paper and manually processed after the identity theft is investigated. It is a lengthy process and refunds can take a VERY long time to be received. We actually had a case where the refund of nearly a million dollars was just finally received on a tax return filed some years ago.”
“The IRS has a serious backlog of unprocessed regular filed tax returns and amended tax returns that will delay processing in 2022,” said Trenda Hackett, technical tax editor atThomson Reuters Tax and Accounting. “In fact, as of late December, the IRS had backlogs of 6 million unprocessed original individual returns (Form 1040), 2.3 million unprocessed individual amended returns and about 5 million pieces of unprocessed taxpayer correspondence.”
If your tax information was amended or corrected and indicates that you are owed a refund, you might not receive a dime through no fault of your own, but because your account has not been updated by the IRS.
If you haven’t received your tax refund after six weeks of submitting your return, seek help from your local IRS office or call the federal agency. You also cancheck the status of your refund here.
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This article originally appeared onGOBankingRates.com:Reasons You Might Not Get a Tax Refund This Year || The 7 Most Undervalued Stocks to Buy for June 2022: • These are some of the most undervalued stocks to buy, trading at attractive valuations.
• Ford(F): Automotive giant poised for big gains with its foray into electric vehicles.
• Micron Technology(MU): Memory storage solutions are growing at a prodigious pace.
• CrowdStrike(CRWD): A top cybersecurity play with a growing addressable market.
• Crocs(CROX): Incredible brand identity with impeccable fundamental growth.
• Nokia(NOK): A top 5G play with a spectacular growth runway ahead.
• Valero Energy(VLO): Leading oil and gas play, benefitting from the conducive macro-economic environment.
• Cigna(CI): A strong insurance play performing consistently over the past several years.
Source: FOTOGRIN / Shutterstock.com
The unconducive macroeconomic environment has had a debilitating impact on the equity market. Rising inflation and interest rates coupled with the Russian invasion of Ukraine have made people pessimistic about economic growth. Hence, this is a time for investors to load up on the most undervalued stocks on the market.
Stocks across the board have taken a licking, which has created an attractive buying opportunity for investors. Naturally, growth and other riskier stocks have borne the brunt of the crash. Perhaps more positively, a lot of the frothiness with several growth picks seems to have gone away, making them significantly more attractive than in the past.
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Therefore, there are companies with serious upside potential available at beaten-down valuations. Let’s look at seven of the most undervalued stocks to buy now.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
[{"F": "MU", "Ford": "Micron Technology", "$12.99": "$69.01"}, {"F": "CRWD", "Ford": "CrowdStrike", "$12.99": "$153.34"}, {"F": "CROX", "Ford": "Crocs", "$12.99": "$52.65"}, {"F": "NOK", "Ford": "Nokia", "$12.99": "$5.01"}, {"F": "VLO", "Ford": "Valero Energy", "$12.99": "$127.83"}, {"F": "CI", "Ford": "Cigna", "$12.99": "$268.77"}]
Source: Ford
Automotive giantFord(NYSE:F) had an incredible 2021. Its shares gained over 100% thanks to investor enthusiasm surrounding the company’s new direction.
President and CEO Jim Farley plan to double down on electric vehicle (EV) investments and related technologies, including batteries and software. Additionally, its fundamentals are in good shape despite recent losses on itsRivian(NASDAQ:RIVN) investment.
The upcoming launch of Ford’s electric pickup has the potential to disrupt the EV space, contributing to healthy revenue growth in the coming years. With an affordable price tag, Ford is looking to bring EVs within reach of the average customer.
Recent results have been excellent. In April, its sales came in ahead of the industry total,with a market share of 13.8%. It represents a healthy improvement from its2021 shareof roughly 12.6%. EV sales shot up more than 139% from the prior-year period.
Moreover, F stock trades at less than 0.4 times forward sales, with a substantial 37% discount from its consensus price target.
Source: Charles Knowles / Shutterstock.com
Micron Technology(NASDAQ:MU) is a producer of memory storage solutions for an expanding suite of devices and technologies. MU stock was hit hard by the growth-stock selloff and now trades almost 60% below consensus price estimates.
Regardless of the selloff, its business is posting record numbers. That includes revenue growth, compelling margins and an increasing total addressable market (TAM).
Micron has been benefitting enormously from the growing application of memory chips. Its TAM is expanding rapidly,generating $15.5 billion in salesfor the first half of fiscal 2022. That was up more than 25% over the same last year.
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Analysts expect the firm to finish in 2023 with $40 billion in revenue. It generated $27.7 billion in sales in the previous fiscal year.
Source: Michael Vi / Shutterstock
CrowdStrike(NASDAQ:CRWD) is a leading cloud-based cybersecurity enterprise with industry-leading fundamentals and a mouth-watering outlook ahead. Its number ofsubscription customersshot up from 2,516 in fiscal 2019 to 16,325 in fiscal 2022.
Moreover, annual recurring revenues have risen from $313 million to $1.7 billion in the same period. Consequently, its free cash flow per share increased significantly as well.
Crowdstrike intends to push the afterburners in growing its annual recurring revenue (ARR) to more than $5 billionby fiscal 2026. This represents annual growth of roughly 31% over the next four years.
Also, it plans to expand its market share with new services. Its TAM will grow from $58 billion to a whopping $126 billion in 2025 with the rollout of new services.
Source: Wannee_photographer / Shutterstock.com
Crocs(NASDAQ:CROX) is a global comfort shoemaker. It’s well known for its foam clogs that have been booming in popularity over the past couple of years. However, its stock has fallen considerably, having lost more than 68% of its value in the past six months.
Last year,sales jumpedmore than 67% on a year-over-year (YOY) basis to $2.3 billion. Moreover, operational income increased by more than 200% to $683.1 million. Additionally, it generated $567.2 million in free cash flow.
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The company’s strength lies in its tremendous brand identity, as it continues to expand its customer base each year. Itrecently acquiredfootwear brand Heydude to potentially tap into the younger demographic. It expects to generate a colossal $6 billion in sales by 2026.
Source: rafapress / Shutterstock.com
Former smartphoneNokia(NYSE:NOK) has taken a while to re-establish its position in the tech industry. Under the leadership of Pekka Lundmark, the company underwent a three-phase change in its business model, putting it in an advantageous place in the mobile telecommunications space.
It has emerged as a leading 5G player, inking multiple deals over the past couple of years. Moreover, itannounced a partnershipwithKyndryl(NYSE:KD) to assist clients in accelerating industry 4.0. The phenomenon involves using automation and computers to improve systems fueled by machine learning and data.
5G is at the heart of the company’s turnaround. The telecommunications giant expects itsaddressable marketto be worth 122 billion euros by 2022. Estimates exclude China, which could potentially be a gamechanger. Nevertheless, Nokia has a massive growth runway ahead, while its shares trade at highly attractive multiples.
Source: Sundry Photography / Shutterstock.com
Valero Energy(NYSE:VLO) operates a highly profitable oil and gas refining and marketing business. Prices in the industry have been rising aggressively, and increasing inflation rates and strong demand are contributing to higher margins. As of March 31, the company’sEBITDA grewat an impressive 178% on a YOY basis.
The company’s recently released results show remarkable top- and bottom-line beats, withearnings per share(EPS) of $2.31 exceeding estimates by 66 cents. Moreover, revenues of $38.5 billion exceeded estimates by $6.3 billion.
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Valero decreased its long-term debt by a huge $750 million, significantly improving its flexibility. Furthermore, the energy giant’s dividend profile is extraordinary, as its stock offers a robust 3.1% yield with a payout ratio of 63%.
Source: Piotr Swat / Shutterstock
Cigna(NYSE:CI) is one of the top health insurance providers globally, offering services in more than30 countries. It boasts humungous coverage and scale, having contracts with more than 99% of U.S. pharmacies.
It has expanded its presence in the fast-growing pharmacy businesses, giving it higher leverage concerning drug prices with pharmacies. Despite the Covid-induced headwinds, the company has done well to increase its members and the overall quality of its service in the past couple of years.
In its first quarter of 2022,net income per sharecame in at $3.68. That was a healthy improvement from $3.30 per share in the same quarter last year.
It also provides steady and dependable returns to shareholders in the form of buybacks and dividends. Its five-yeardividend growth ratestands at an impressive 93%, with an appealing yield of 1.7%. Despite the consistent performances, CI stock trades at 0.5 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.comPublishing Guidelines.
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The postThe 7 Most Undervalued Stocks to Buy for June 2022appeared first onInvestorPlace. || Sundial Growers to Split Stock During a Turnaround Year: • Sundial Growers(SNDL) stock price, at 41 cents per share, has fallen far below theNasdaq’sminimum continued listing requirement of $1 per share. And the company has exhausted both its grace periods to bring the share price back to compliance.
• Shareholders will most likely vote for a reverse stock split in a June meeting.
• 2022 is a turnaround year for SNDL stock, Wall Street expects profitability this year.
Source: Postmodern Studio / Shutterstock.com
Following anearlier coverageofSundial Growers(NASDAQ:SNDL) stock in January when I pondered the possibility of SNDL stock announcing a reverse stock split to avoid getting delisted from theNasdaq, the company received a 180-day extension to its compliance deadline by the exchange. However, Sundial’s stock price must still rise to $1 a share and hold above that threshold for at least 10 straight days between now and Aug. 8, 2022.
However, a market sell-off hasn’t been too kind to SNDL stock, and shares have plunged this year to print a new 52-week low of 34 cents on Thursday, May 12. The company’s share price is far from the ideal trading range to guarantee its extended listing on the Nasdaq.
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Sundial may not receive another extension from the Nasdaq. Two consecutive chances are usually the maximum allowed to get a company’s share price back above $1 for at least 10 consecutive days.
Management at Sundial Growersrevealed a planto go ahead with a reverse stock split during the third quarter of 2022. Shareholders will vote on the proposal during the company’sannual meeting expected on June 27.
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It’s in the company’s best interests to remain publicly listed. Therefore shareholders may unanimously vote on the reverse split agenda — they most likely prefer a listed and liquid SNDL stock to an illiquid, discounted, privately traded one.
The company had 2.4 billion shares of common stock outstanding as of April 25. Given a trading range below 40 cents a share on Friday, Sundial Growers may do a 1-for-3 reverse stock split at the bare minimum to bring the share price above $1 per share.
However, that low conversion rate could leave too little room for SNDL stock to fall before Nasdaq’s compliance team’s eyes focus on Sundial again. Thus, management may do something like a 1-for-13 reverse stock split to lift shares above $5 and out of penny stock territory.
A reverse consolidation won’t affect Sundial’s fundamentals, besides its number of outstanding shares, and the finer details associated with share count. These include diluted earnings per share and cash flow per share numbers, which may appear higher than before given a smaller denominator.
That said, the markets have a tendency of punishing stocks that undergo a reverse split. It’s psychologically regarded as proof of an underperforming business.
Reverse stock splits usually happen during the worst economic and financial times for a listed company. This is true for Sundial as its legacy cannabis business has struggled in Canada. However, such splits don’t usually happen during a turnaround, just when everything is about to get better.
Yet Sundial Growers is about to do a share consolidation just as its financial fortunes are about to improve.
Wall Street has great expectations for Sundial Growers’ business in 2022. Its recently closed acquisition of Canadian liquor retailer Alcanna unlocks positive cash flow generation capacity. Analysts project about 710 million CAD in revenue and a record 0.01 CAD positive earnings per share for 2022. Sundial only managed to invoice 56 million CAD in sales last year and posted a 0.12 CAD loss per share.
A swing to profitable operations could be good news for SNDL stock investors later this year. “We are beginning to see positive momentum across all of our key operating segments and remain committed to our goal of becoming free cash flow positive within the 2022 calendar year.” CEO Zach George wasquoted as sayingin April.
Although Wall Street is hesitant on Sundial Growers stock, the cannabis name seems like a speculative buy as it breaks into profitability. SNDL stock has a consensus“hold”rating from analysts. The average analyst price target on Sundial Growers stock of 74 cents implies a substantial 80% upside over the next twelve months.
On the date of publication, Brian Paradza did not hold (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.
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.
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The postSundial Growers to Split Stock During a Turnaround Yearappeared first onInvestorPlace. || 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 any of Tom’s potential 100x picks, subscribe to his mailing list here . A Recession Is Now “Inevitable” 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.” InvestorPlace - Stock Market News, Stock Advice & Trading Tips In other words, the S&P 500’s 12-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’s ARKK 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. An illustration of a shibu inu dog wearing a face mask. Source: Catalyst Labs / Shutterstock.com The Biotech Bonanza of 2022? 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. Story continues 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 from Greenwich 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. The Downsides of Biotech 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 my Insider Track strategy, you’ll know that when certain insiders are buying, it’s time to look closer. BioCardia (BCDA) 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. Sharps Technology (STSS) 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. Cyclo Therapeutics (CYTH) Finally, recent drawdowns have made Cyclo 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. Are We Already in a Recession? Regular InvestorPlace readers 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 to recommend higher-quality plays in January when Fed Chair Jerome Powell began spooking markets. Moonshot readers will have likewise noticed a shift in this newsletter. Energy plays — which included Peabody Energy (NYSE: BTU ) and Enservco (NYSEAMERICAN: ENSV ) in 2021 — now include cheap midstream companies with plenty of downside protection. And I’m mainly ignoring today’s mania over stocks like Redbox (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 at moonshots@investorplace.com or connect with me on LinkedIn and let me know what you’d like to see. FREE REPORT: 17 Reddit Penny Stocks to Buy Now 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. 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 Follow the Insiders and Buy the Dip in These 3 Stocks appeared first on InvestorPlace . || fuboTV Stock Is Up Today. Is It a Buy?: Shares of sports-first streaming platform fuboTV (NYSE: FUBO ) gained nearly 13% on Monday, after dropping its Starter Plan for all users. FUBO stock has been hit hard in recent months, down 52% year to date and 75% since early November. A close-up shot of a hand holding a TV remote with a blurred screen in the background. Source: Shutterstock Over the weekend, the company notified its users that it will no longer offer its low-end plan anymore. Starter Plan members will be migrated to the Pro Plan beginning in May and pay $5 more a month. The bump in price is likely to result in a healthy increase in revenue and improved margins. Profitability, in particular, remains elusive for the company, and the price hike could potentially control the bleeding. InvestorPlace - Stock Market News, Stock Advice & Trading Tips 7 No-Brainer Stocks to Buy for April On March 29, beleaguered FUBO stock gained 7.3% after options trading king Pete Najarian mentioned it on NBC’s Fast Money Halftime Report . According to Najarian, elevated call buying points to greater optimism among investors. After Monday’s rally, FUBO stock sits 23% above its 52-week low of $6.01, made on March 15. FuboTV has been killing it on the business front, recently delivering another quarter of triple-digit top-line growth . Revenue for the fourth quarter surged year over year to $230 million, excluding the acquisition of Molotov. Additionally, its total subscriber count more than doubled last year to 1.13 million. FuboTV expects to blow past the $1 billion revenue mark this year after generating $638 million in 2021. FUBO stock currently trades 50% below analysts’ average price target of $14.63. Hence, FUBO stock might offer healthy upside for investors at this time. 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 bachelor’s of science degree in applied accounting from Oxford Brookes University. 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 bachelor’s of science degree in applied accounting from Oxford Brookes University. 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. 10 Stocks Are Issuing Sell Signals Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” The post fuboTV Stock Is Up Today. Is It a Buy? appeared first on InvestorPlace . View comments || Bitcoin Trades Down Nearly 8%, Approaching 52-Week Lows: By Daniel Shvartsman Investing.com Bitcoin traded down 7.6% on Monday afternoon (as of 1:20 pm ET), following up on a volatile weekend of trading. The leading cryptocurrency has reached price levels not seen since July 2021, and is now trading down 28% for the year. While there is no specific trigger for Bitcoin's sell-off, the broader risk-off sentiment driving stock markets and especially the Nasdaq lower, as well as the increasing treasury yields have placed pressure on assets with little or no cash flow like bitcoin. The sell-off has spread to the broader cryptocurrency sector, with Ethereum down 8.4% to $2315, also levels last seen in July 2021. Solana is trading down 9.3%, while Cardano is down 13.6%. Equities that trade in line with bitcoin or crypto assets are also plunging on the day. MicroStrategy (NASDAQ:MSTR), run by vocal bitcoin bull Michael Saylor, is down 22.1%, while Coinbase (NASDAQ:COIN) is down 17.5% and Applied Blockchain Inc (NASDAQ:APLD) is down 18.4%. And it's no surprise that crypto-related ETFs and funds are also struggling, with ProShares Bitcoin Strategy ETF (NYSE:BITO) down 11.8%, Grayscale Bitcoin Trust (OTC:GBTC) down 16.2%, VanEck Bitcoin Strategy ETF (NYSE:XBTF) down 11.9%, and Valkyrie Bitcoin Strategy ETF (NASDAQ:BTF) down 11.8%. Another investor associated with bitcoin recently, Cathie Wood of Ark Invest, is also facing a downdraft today, with the ARK Next Generation Internet ETF (NYSE:ARKW) (including a 6.5% weight in GBTC) down 9.2%. Related Articles Bitcoin Trades Down Nearly 8%, Approaching 52-Week Lows Galaxy Digital reports $112M Q1 loss, citing crypto price volatility Price analysis 5/9: BTC, ETH, BNB, XRP, SOL, ADA, LUNA, DOGE, AVAX, DOT
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 29799.08, 30467.49, 29704.39, 29832.91, 29906.66, 31370.67, 31155.48, 30214.36, 30112.00, 29083.80
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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 2021-09-27]
BTC Price: 42235.73, BTC RSI: 41.38
Gold Price: 1750.00, Gold RSI: 39.81
Oil Price: 75.45, Oil RSI: 67.21
[Random Sample of News (last 60 days)]
EtherLite Looks to Bridge to More Blockchains: Ethereum might be one of the most popular blockchains in the world, but its far from being the only one. EtherLite is a recently launched Ethereum fork that seeks to address some of the issues plaguing its parent networks performance, such as slow and pricey transactions. ETL is the newer blockchains native token, and the price has yet to reach its stride, having shaved 30% off its value in the last 30 days. Meanwhile, the price of Ether, which is the native cryptocurrency of the Ethereum network, is currently hovering above USD 3K. This is a significant physiological milestone for the second-biggest cryptocurrency, todays 5% declines notwithstanding. Ethereum bulls believe Ether is poised to go even higher given the declining supply and rising demand dynamics for the coin. Blockchain Bridge While Ethereum is transitioning from a proof-of-work (PoW) model to a proof-of-stake (PoS) consensus algorithm, EtherLite has adopted the staking approach from the getgo. Its users are already staking ETL rewards, which they can withdraw as frequently as weekly. The newer project was built for interoperability and is compatible with the Ethereum network. EtherLite doesnt want to stop there, however, and is also eyeing other blockchains to bridge to. Blockchains are generally built in an isolated manner, and a bridge allows different networks, say Ethereum and EtherLite, to interact with one another to move tokens or smart contracts, for example. In a recent Bitcoin.com podcast , EtherLite head of communications, Jean Auditor, discussed the projects roadmap. She said that EtherLite is not trying to kill off other blockchains and instead is interested in offering alternative blockchains. The way that the EtherLite team sees it, more blockchains translates to less congestion on these networks. Besides, users tend to have biases toward their favorite blockchain anyway, Auditor said. She added that EtherLite will be able to bridge to more blockchains, making it easier for their users to use ETL on multiple blockchains. Story continues 1/5 pic.twitter.com/YRcIf7nmTr Etherlite (@EtherliteOrg) August 17, 2021 According to EtherLites Twitter account, the blockchain has supported more than 70,000 transactions so far. The project is also gaining more exposure slowly but surely. Most recently, cryptocurrency exchange Changelly Pro announced that its users now have access to EtherLites ETL and touted the platform for building decentralized applications (Dapps). If more developers flock to EtherLite to build, the ETL token could benefit. This article was originally posted on FX Empire More From FXEMPIRE: Lowes Charts Its Own Course, Shares Up 10% E-mini S&P 500 Index (ES) Futures Technical Analysis Trader Reaction to 4444.25 Sets the Tone into Close AUD/USD Price Forecast Australian Dollar Continues to Look Threatened GBP/JPY Price Forecast British Pound Bounces From Major Support Natural Gas Price Prediction Prices Rise Ahead of Inventory Report S&P 500 Price Forecast Stock Markets Continue to Undulate Near Highs || Where Does Cryptocurrency Come From?: Jirapong Manustrong / iStock.com It’s fairly common knowledge that cryptocurrency is a decentralized digital medium of exchange that isn’t issued by a government or bank. Most people are probably familiar with Bitcoin by now, and you might have heard of Ethereum, too. But those are just two of the more than 5,000 cryptocurrencies vying to be the next big thing. Beyond Bitcoin: Looking at Some Crypto Financial Jargon See: 10 Cheap Cryptocurrencies To Check Out With that many out there, you might be wondering where they all come from? No bank and no government means no printing and no minting — but none is needed. Although you can spend it like regular money, cryptocurrency is born from an entirely different process altogether. Find Out: What Is Chainlink and Why Is It Important in the World of Cryptocurrency? All Cryptocurrency Is Software Many cryptocurrencies, like Bitcoin and Ethereum, are “mined.” Others are not. More on that in a moment. Read More: Millennials Own More Crypto Than Any Other Generation No matter the origination process, all cryptocurrency is software that is created by code. That code determines absolutely every function associated with the cryptocurrency, from the way data are stored and how transactions are recorded to the distribution of mining rewards and the maximum supply of tokens to be produced. Take a Look: The 10 Wildest Things Selling as NFTs In almost all cases, the code is public and the software used to generate a given cryptocurrency is decentralized, just like the cryptocurrency itself. That public, decentralized software is hosted on individual computers all over the world instead of on a central server. Algorithms, Cryptography and Blockchain Are at the Heart of It All When cryptocurrencies are designed to be used as money, transactions are stored on a special kind of secure database called a blockchain, which serves as a ledger of all coded transactions. Think of it as a checkbook for cryptocurrency. Discover: Should Crypto and NFTs Be Part of Your Retirement Plan? Story continues Once entered into the blockchain, no one can ever change an entry in the database without meeting specific conditions. Everyone involved can see the public record of all transitions. Blockchain technology, therefore, allows cryptocurrency to achieve its three most important defining features: Transparency Decentralization Immutability The part of the code that represents what end-users know as “tokens” or “coins” is just a string of numbers stored on a blockchain. Cryptocurrencies are generated by algorithms, and those algorithms rely on cryptography — hence the name cryptocurrency. More Economy Explained: Ethereum: All You Need To Know To Decide If This Crypto Is Worth the Investment Most Cryptocurrency Is Mined In most cases, the algorithms that fuel the cryptocurrency factory are written to award tokens to computers that add transactions to the blockchain. That process is known as mining. Miners use special hardware and the cryptocurrency’s public, decentralized software to add transactions to blockchains. Read: What Are Altcoins — and Are the Potential Rewards Worth the Risks? In exchange for providing that critical blockchain maintenance, miners get paid in new cryptocurrency tokens. Most cryptocurrency coins or tokens are created this way. Technically, anyone can be a miner, but it’s a largely fruitless endeavor for most. It’s complicated, competitive, expensive if you fail — which is highly likely — and it gobbles up an enormous amount of power. But Some Is Not Some cryptocurrency was never designed to replace fiat currency like the dollar. In other words, it was never meant to be used as money. This kind of non-mineable, unspendable cryptocurrency is usually generated to reward early investors in a new cryptocurrency launch, called an ICO (initial coin offering). The Economy and Your Money: All You Need To Know In other cases, a new cryptocurrency can be created through a deviation in a blockchain called a hard fork. Hard forks occur when blockchain protocols change so significantly that a new, unique branch is formed on the chain that is incompatible with the old chain. Bitcoin Cash, for example, was formed through a hard fork on the original Bitcoin blockchain. Proof of Work and Proof of Stake Verification is at the core of crypto. Unlike fiat currency, the value of cryptocurrency is not based on trust. It’s based on one of two verification techniques: proof of work and proof of stake. Bitcoin Cash (BCH): The Most Important Things You Need To Know About It Most transactions are verified through proof of work. Algorithms create complex math problems that miners race to solve using special hardware. By solving the puzzle, a miner verifies a group of transactions called a block, which is then added to the larger blockchain ledger. The miner who pulls it off first is rewarded with cryptocurrency. Proof of stake was developed to reduce the amount of power needed to verify transactions. With this method, someone has to prove they have skin in the game in order to check transactions and compete for rewards. Users have to “stake” their own existing cryptocurrency by locking it up in a communal vault to be allowed to verify transactions. The more you stake, the more transactions you’re allowed to verify and the more cryptocurrency you can earn. This article is part of GOBankingRates’ ‘Economy Explained’ series to help readers navigate the complexities of our financial system. More From GOBankingRates What Money Topics Do You Want Covered: Ask the Financially Savvy Female 5 Things Most Americans Don’t Know About Social Security Nominate Your Favorite Small Business To Be Featured on GOBankingRates 5 Cities Around the World Experiencing a Housing Market Boom Last updated: June 7, 2021 This article originally appeared on GOBankingRates.com : Where Does Cryptocurrency Come From? || Silver Price Prediction – Prices Fall on Dollar Gains: Silver prices reversed course and fell on Thursday. The move-in silver comes despite a rise in gold prices and a flat dollar. All eyes are on the Federal Reserve and Chair Powells speech on Friday at Jackson Hole, Wyoming. Jobless Claims rose but less than expected and U.S. GDP was slightly higher than the initial reading.
Silver prices closed down on Thursday, falling short of resistance near the breakdown level at 24.42. Additional resistance is seen near the 200-day moving average at 25.85. Support is seen near the 10-day moving average at 23.55 and then near the August lows at 22.10. Short-term momentum has turned positive as the fast stochastic generated crossover buy signal. Medium-term momentum has turned positive as the MACD (moving average convergence divergence) index generated a crossover buy signal. This buy signal occurs as the MACD line (the 12-day moving average minus the 26-day moving average) crosses above the MACD signal line (the 9-day moving average of the MACD line).
Gross domestic product rose at a revised 6.6% annualized pace in the second quarter. Originally the increase was put at 6.5%. The slight increase in GDP reflected somewhat stronger consumer spending and U.S. exports than initially reported. The revised GDP report also included the first look at corporate profits in the second quarter. Adjusted pre-tax profits jumped at a 9.2% annual rate and suggested businesses have plenty of capital to continue investing and hiring.
Thisarticlewas originally posted on FX Empire
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• S&P 500 Price Forecast – Stock Markets Unsettled Heading Into Jackson Hole || MicroStrategy Q2 Financials Reflect Losses Due to Crypto Market Crash: BeInCrypto – MicroStrategy’s second-quarter financial results show a loss in its bitcoin investments, but the company will continue to amass the cryptocurrency. Business intelligence firm MicroStrategy has published its financial results for the second quarter of 2021, logging a revenue growth of 13%. The company saw some losses in its bitcoin holdings, brought on by the market’s slump in the second quarter. MicroStrategy, which has grown in the public eye for its investments in bitcoin , saw its shares drop by 3.35% today. MicroStrategy’s total holdings amount to 105,085 BTC, which is worth over $4 billion at press time. CEO Michael Saylor, who has become a staunch bitcoin proponent since the company’s foray into the market, said that the firm was pleased by the results of its digital asset strategy. 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 || 100 smart contracts in first 24 hours as Alonzo goes live on Cardano: Cardano finally completed the much-anticipated Alonzo Hard Fork on Sunday, delivering smart contract capability to the network. And the move seems to have excited investors and developers alike, with more than 100 smart contracts added to the blockchain in the 24 hours following the launch of smart contract capability on the ADA mainnet. This is the onset of an important wave of adoption for Cardano – a project often accused of having no functional product – and will spearhead further gains as ADA solidifies as the third-largest crypto asset. News of the Alonzo upgrades finishing has spurred the insatiable ADA price action, which in the past three months has seen Cardano ascend a 195% rally from $1.02 to a remarkable $3.01. The emergence of dApp functionality on Cardano will no doubt drive forward Charles Hoskinson’s boundless ambitions for the project, which actively seeks to engage the developing world as the central use case and user base. The IOHK team is already working extensively with the Ethiopian government to integrate blockchain technologies in national administrative infrastructure. And this comes on the tail of a huge vote of confidence for Cardano which saw strict Japanese regulators gave it the green light for trade on Japanese markets – the fifth crypto asset ever to unlock this status. #Cardano has a very robust ecosystem… give it time! $ada #ToTheMoon pic.twitter.com/vjYC5rbBNO — OGcryptoFTW (@FtwGcrypto) September 13, 2021 Cardano’s Alonzo roadmap The ADA team had outlined its Alonzo launch through a colour-coded roadmap, which has now been fully completed. Story continues Alonzo purple was the penultimate stage in the upgrades and focused on smart contracts. The final component in the roadmap focused on network scalability and network governance, and was colloquially known as Alonzo Red and Alonzo Black. Successful implementation of those upgrades set the stage for the very last step – the mainnet release, which involved a hard fork combinator event following a public testnet on September 12. The Cardano mainnet has now transitioned from what is known as the Mary era to the new Alonzo era. Real smart contracts and dApps that interact with ADA and other tokens are now possible. More crypto 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. || AMC will let customers pay in Ethereum and Litecoin by the end of the year: AMC is expanding its cryptocurrency interests.
The movie theater chain has announced it will begin accepting Ethereum, Litecoin, and Bitcoin Cash for online ticket sales and concession payments by the end of the year. The announcement comes just over a month after AMC announced it wouldbegin accepting Bitcoin.
CEO Adam Aron dropped word of the new policy in a tweet Wednesday evening.
https://twitter.com/CEOAdam/status/1438298684266098688
The decision to embrace crypto follows AMC’semergence as a meme stockdarling earlier this year. By accepting Bitcoin and other digital currencies, the chain hopes that tech enthusiasts who invested in the company will now start going to movies there—and it’s giving them additional payment options to encourage them.
Dogecoin, however, is still not accepted by the chain. And that earned Aron a bit of a shellacking from the AMC Apes who follow him.
“Wow, so out of touch with your customers and investors—sad!,”one follower wrote. “Perhaps no one in your boardroom is familiar with The People’s Crypto,Dogecoin, which embodies the meme economy and the spirit of AMC. After this year I figured you would know a thing or two about the meme economy!!!”
Others agreed.
https://twitter.com/JQT_CoinLinked/status/1438318041478021123
https://twitter.com/BillyM2k/status/1438340360493699073
https://twitter.com/bears_gone/status/1438299482068824066
It has been an eventful year for AMC, which saw its shares start around $2 per share. Today, they hover around $48, havingsoaredhas high as $72. At the same time, the company has been forced to explore other options, as new investors have flooded in.
“I’ve had to learn more in the past six months about blockchain and cryptocurrency than I learned about it in the entire decade before that,” Aron said on an earnings call last month.
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This story was originally featured onFortune.com || Bitcoin Eyes 200-Day Moving Average Support as $2B Options Expiration Nears: Bitcoin is again experiencing moderate price turbulence heading into the monthly options expiration. The cryptocurrency is trading at about $47,000 at press time, representing a 4.4% drop on the day, CoinDesk 20 data show. The decline has reversed Wednesdays 2.7% gain and exposed bitcoin to the widely tracked 200-day moving average (MA) line located at $46,040 What we are seeing is typical pre-expiry price volatility, said Philippe Bekhazi, CEO at XBTO Group. [The] market generally rebounds after monthly settlement. Related: AriseCoin Inventor Sentenced to 5 Years in Prison for Securities Fraud A total of 42,500 option contracts worth roughly $2 billion are set to expire on Friday, according to data provided by Skew. The dominant crypto options exchange Deribit will settle the majority of open interest at 8:00 UTC. Data since January show bitcoin tends to move toward the max pain point in the lead-up to an expiration and sees a solid directional move in days after settlement. In traditional market theory, that behavior results from option sellers, mostly institutions, manipulating the spot market to push prices closer to the strike price at which the highest number of open options contracts expire worthlessly, yielding maximum losses or maximum pain for option buyers and minimizing losses for the sellers. History seems to be repeating itself, as the max pain point for Fridays monthly expiration is $44,000, according to Deribit. The options market has also flipped bearish for the short term, with the one-week put-call skew reporting positive values at press time. Thats a sign of short-term puts, or bearish bets, drawing higher demand than calls. The one-month skew is neutral, while the three- and six-month skews are still trading negative, indicating a long-term bullish bias. A continued inflow of BTC onto crypto exchanges could also bring some price volatility. Blockchain analytics firm CryptoQuant data show the Huobi exchange received 23,256 BTC at 06:08 UTC today. Story continues Related: Market Wrap: Bitcoin Back Above $48K, Expect Consolidation Its an actual deposit from a user, CryptoQuant CEO Ki-Young Ju told CoinDesk in a Telegram chat. Users typically transfer bitcoin to exchanges when they plan to liquidate holdings or sell coins to fund derivatives and alternative cryptocurrency trading, leading to increased price turbulence. Bitcoin reserve across all exchanges is increasing lately, and this could affect the market in the short term, Ju said. These bitcoins could be sold, used as collateral for derivative trading, or used for altcoin trading. Either way, it increases the market volatility. From a technical analysis standpoint, the immediate bias has flipped bearish owing to the cryptocurrencys failure to keep gains above $50,000 earlier this week. Both bitcoin and ether confirmed short-term counter-trend sell signals per the DeMark indicators , which have been fairly timely in the past as indicators of short-term inflections, Katie Stockton, founder and managing partner of Fairlead Strategies, said in an email. The message is for another 1-2 weeks of sideways-to-lower price action. Stockton added that while the intermediate-term momentum remains positive, some risk management may be necessary for the very near term, given the 50-day MA at $39,652 is the initial support. Meanwhile, XBTOs Bekhazi mentioned $46,800 as key support. Also read: Bitcoin Miners Hold Onto Rigs, Betting the Bull Run Will Continue Related Stories Citigroup se prepara para operar futuros de bitcoin en la Bolsa Mercantil de Chicago Bitcoin Mining Difficulty Rises, Extending Recovery After China Crackdown || Investmentpitch Media Video Discusses LUXXFOLIO Holdings’ Diversification Through the Acquisition of an Ethereum Mining and Hosting Operation – Video Available on Investmentpitch.com: VANCOUVER, British Columbia, Sept. 13, 2021 (GLOBE NEWSWIRE) -- LUXXFOLIO Holdings (CSE:LUXX) (OTCQB:LUXFF) (FSE:LUH), a vertically integrated digital asset company, is diversifying through the acquisition of an Ethereum mining and hosting operation.
LUXXFOLIO, which focusses on Bitcoin mining and generating digital assets on the blockchain ecosystem, operates, through its wholly owned subsidiary LUXX Mining Division, an industrial scale cryptocurrency mining facility in the United States, powered primarily by renewable energy.
A Media Snippet accompanying this announcement is available by clicking on the image or link below:
For more information, please view the InvestmentPitch Media “video” which provides additional information on the company. If this link is not enabled, please visitwww.InvestmentPitch.comand enter “LUXXFOLIO” in the search box.
The LUXX Mining Division has entered into an asset purchase agreement with Blackcloud Crypto Investments to purchase the assets of its Ethereum Mining and Hosting Operations. Lethbridge, Alberta-based Blackcloud is a cryptocurrency mining venture focused on Ethereum mining. The assets shall include the seller’s Hosting Portable Container, 136 Ethereum mining machines, 25 Ethereum crypto currency coins, and all agreements related to the mining and hosting of the Ethereum mining operations.
Based on current mining economics, these Ether Miners will contribute approximately 17.5 Ethereum per month based on current difficulty rates. The acquisition adds 6 Peta Hash per second of BTC equivalent Hash Rate. Based on current miner delivery schedule, the company is expecting to reach production in excess of 151 Peta Hash per second by the end of this calendar year and is targeting a hash rate of 310 Peta Hash per second by July of next year.
Ken MacLean, President of LUXX Mining Division, stated: “We are exploring a number of diversification efforts and mining Ethereum is a natural fit into our operations. We also see staking and proof of work as complimentary to our mission. We will continue to explore integrating other mining operations as the industry continues to consolidate.”
Commenting on the transaction, Blackcloud Crypto Investments stated: “There is tremendous upside in LUXXFOLIO and we look forward to participating in the company’s growth.”
In consideration for the transaction, LUXXFOLIO will issue 711,300 common shares of LUXXFOLIO, which will have a four month hold period, to Blackcloud Crypto Investments.
The shares are trading at $0.63 on the CSE under the symbol “LUXX”. The company also trades on the OTCQB under the symbol “LUXFF” and recently began trading on the Frankfurt Exchange under the symbol “LUH”.
For more information on this investment opportunity, please visit the company’s websitewww.luxxfolio.com, or follow the company on any of its social media platforms including twitter, YouTube, LinkedIn, Facebook, Instagram and Telegram. You can also contact Dean Linden, CEO, at 604-398-3837 or emailDLinden@luxxfolio.com.
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CONTACT:InvestmentPitch MediaBarry Morgan, CFObmorgan@investmentpitch.com || Ethereum Classic Stops For Gas, Along With Bitcoin And Doge, On Bullish Moon Trip: On Saturday morningEthereum Classic(CRYPTO: ETC), along with apex cryptocurrencyBitcoin(CRYPTO: BTC) and the ever-popularDogecoin(CRYPTO: DOGE), was consolidating Friday’s bullish trek north. All three cryptos have recently had a relative strength index (RSI) of over 70% which puts them into overbought conditions for technical traders.
Acryptocurrency, like a stock, always enters into a period of consolidation after either a large incline or decline. Ethereum Classic rose 137% between its June 22 low of $32.17 and its Aug. 15 high of $77.37. Although bulls would love to see the original Ethereum version ‘moon’ it will need to stop for gas along the way.
See Also:How to Buy Ethereum Classic
TheEthereumClassic Chart:On Aug. 7 Ethereum Classic broke up from a descending trendline that had been holding the crypto down since June 3. After busting up through the trendline Ethereum Classic soared about 46% over the course of nine days.
When the crypto reached its $77 high its relative strength index measured in at 79% which was a sell signal. The crypto then retraced about 22%, which cooled its RSI down to a much more comfortable 57%, before making another bullish move up.
In its consolidationEthereumClassic has created another descending trendline which it has now rejected on four separate trading days. For technical traders a trendline must demonstrate support or rejection at least three times to be valid.Ethereum Classic rejected from its new trendline on Aug. 15, 16 and 20 and on Saturday morning the crypto tried to jump over it but failed.
As of 10:00 a.m. ET Ethereum Classic’s trading volume was about 143 million compared to its average 10-day volume of 547 million. When a crypto or stock trades down on low volume it is usually a bullish consolidation as opposed to a bear break.
Ethereum Classic is trading over the eight-day and 21-day exponential moving averages (EMAs) with the eight-day EMA trending above the 21-day, both of which are bullish indicators. On Saturday morning the crypto tested the eight-day as support and held above it. Ethereum Classic is also trading above the 200-day simple moving average indicating overall sentiment is bullish.
1. Bulls want to see big bullish volume come in and drive Ethereum Classic up over the descending trendline. If the crypto can clear the level it has resistance above at about $72 and $79.
2. Bears want to see big bearish volume come in and drop the crypto down below support at the eight-day EMA. If Ethereum Classic loses the support level it could fall toward $65. Below that there is support near the $57 mark.etc_aug._21.png
Photo by: ETC onFlickr
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Market Wrap: Bitcoin Stalls Near $50K Ahead of Options Expiration Date: Bitcoin stalled after approaching the $50,000 resistance level on Monday. The cryptocurrency was trading at about $49,500 at press time and is up about 8% over the past week. Analysts expect a period of consolidation ahead of Friday’s option expiration date and news from the Federal Reserve’s annual economic policy symposium in Jackson Hole, Wyo. “The trend is bullish; however, caution is to be exercised at these levels due to the decline in volume as well as resistance from April and May,” Marcus Sotiriou, a trader at GlobalBlock , wrote in an email to CoinDesk. “$51K would be a natural place for a short-term pause in the rally,” Katie Stockton, managing director of Fairlead Strategies , wrote in a Monday newsletter. Related: Should You Invest in Bitcoin for Retirement? “Long-term momentum behind bitcoin has strengthened and the 200-day (40-week) moving average is rising again, supporting a bullish long-term outlook,” she wrote. Latest prices Cryptocurrencies: Bitcoin (BTC) $49218, +1.14% Ether (ETH) $3303, +4.25% Traditional markets: S&P 500: 4479.5, +0.85% Gold: $1803, +0.57% 10-year Treasury yield closed at 1.251%, compared with 1.261% on Friday Several analysts noted that extreme overbought conditions have unwound since April, which is providing support for the crypto rally. Related: Paxos Renames Standard Stablecoin as Pax Dollar “Right now, bitcoin and other cryptos have enjoyed technical support (as they were becoming mildly oversold),” Santiago Espinosa , a strategist at MRB Partners, wrote in an email to CoinDesk. “At this juncture, some cryptos can continue to do well if policymakers neglect inflationary pressures and regulatory issues don’t become a mainstream problem.” Bitcoin options expiry Roughly 25% of bitcoin options open interest is set to expire on Friday. The largest concentration of open interest is seen at the $50,000 strike price, which is also a key technical resistance level. Story continues “Despite implied volatility softening over the past few weeks, $50K is a large psychological barrier and the open interest concentration could prove choppy going into expiration,” Gregoire Magadini, co-founder and CEO of Genesis Volatility , wrote in a Telegram chat. The bitcoin options market is placing a 45% chance of BTC trading above $50,000 by the end of September, according to options data provider, Skew . Bloomberg’s McGlone still bullish on bitcoin Bloomberg Intelligence’s Mike McGlone, who won plaudits last year for being among the most prominent analysts predicting that bitcoin would go to $50,000 , sees further upside now that the largest cryptocurrency has returned to the mark following a steep market correction. “Bitcoin, gold and long bonds are top assets set to outperform” in the second half of 2021, McGlone wrote Monday in a report. “The firstborn crypto may have solved the age-old problem of a global reserve asset that’s easily transportable and transactionable, has 24/7 price discovery, is relatively scarce and is nobody’s liability or project.” BTC holdings rise The percentage of bitcoin profitable addresses (BTC value above the cost basis) reached a three-month high, according to Glassnode data. “The decline in realized losses of late could indicate that investors have found renewed conviction to hold on, or are potentially taking exits that are closer to their original cost basis, as price recovers towards the $50K range,” Glassnode wrote in a Monday blog post . Crypto fund inflows Crypto funds saw $21 million of net inflows last week as digital-asset markets rallied, pushing the total assets under management (AUM) to $57.3 billion, the highest level since May, a new report shows. The latest data reflected a reversal after six consecutive weeks of outflows, according to the report Monday by digital-asset manager CoinShares. Funds focused on Solana’s SOL token saw the largest inflow among all digital assets, at $7.1 million last week, the report shows. The token hit an all-time high of $82 on Saturday, according to Messari. Investors redeemed $2.8 million from bitcoin -focused funds last week, the seventh consecutive week of outflows, despite the largest cryptocurrency’s price upturn. The run matched the streak of outflows recorded in early 2018, the report noted. That was just before the “crypto winter,” when cryptocurrency prices tanked and failed to return to all-time highs for more than two years. Altcoin roundup Visa buys a CryptoPunk for $150K: Visa has bought CryptoPunk 7610, a female CryptoPunk character for around $150,000, taking a step into non-fungible tokens (NFTs) as it seeks to learn more about the burgeoning market. A collection of nine rare CryptoPunks that were among the first 1,000 minted fetched almost $17 million in an auction at Christie’s in May. Cuy Sheffield, Visa’s head of crypto, said in a blog post that the main purpose behind Visa’s purchase was to learn more about the growing market. “We think NFTs will play an important role in the future of retail, social media, entertainment and commerce,” Sheffield wrote. “To help our clients and partners participate, we need a firsthand understanding of the infrastructure requirements for a global brand to purchase, store and leverage an NFT.” Tether starts printing again: Tether, issuer of the world’s largest stablecoin, USDT, has started printing again after a roughly two-month halt that sparked investors’ concerns and speculation. Tether has minted at least 2.3 billion USDT since Aug. 1, pushing the token’s market cap to $65 billion, a Tether representative told CoinDesk via email. Demand for USDT has recently rebounded, according to Tether and industry experts, as crypto market sentiment has turned more positive. It’s possible, however, that the demand for USDT may not be driven by bitcoin but instead by some altcoins, such as solana (SOL) and terra (LUNA), whose trading volumes have surged, according to Noelle Acheson, head of market insights at crypto prime broker Genesis Global Trading, which shares common ownership with CoinDesk. USDC to change reserves: The world’s second-largest stablecoin, USDC, will be 100% backed by cash and short-term U.S. Treasurys by September, according to developer Centre, a consortium of crypto exchange Coinbase and payments technology company Circle. Circle revealed last month that only 61% of tokens were backed by “cash and cash equivalents,” referring to cash and money-market funds. Centre “will ensure that the USDC investments revert back to a more conservative investment profile by the end of September,” Emilie Choi, president and chief operating officer at Coinbase, wrote in a tweet. Poly Network hacker releases private key for remaining looted $141M: The attacker who hacked more than $600 million from the China-based Poly Network platform has released the private key for the remaining $141 million of the stolen cryptocurrency. In a note to the Poly Network team, the attacker or attackers referred to the saga as “one of the most wild adventures in our lives.” Poly Network subsequently tweeted its thanks to the attacker or attackers, posting a link to a transaction on the Ethereum blockchain confirming that the key worked. Relevant news: Another US Bank Joins the Small List Willing to Serve Crypto Companies Substack Rolls Out Bitcoin Payments via OpenNode and Lightning Network Liquid Exchange Hacker Covers Tracks by Sending $20M to ETH Mixer PayPal Brings Crypto Service to UK Customers AdvisorShares Files for Bitcoin Futures ETF Introducing Crypto for Advisors, a Newsletter for Financial Planners Cardano Alonzo Hard Fork: What You Need to Know Other markets Most digital assets on CoinDesk 20 ended up higher on Monday. Notable winners of 21:00 UTC (4:00 p.m. ET): cardano (ADA) +12.2% filecoin (FIL) +4.71% eos (EOS) +3.71% Notable losers: algorand (ALGO) -2.24% the graph (GRT) -1.39% Related Stories Bitcoin Struggles at Resistance; Support Near $48K DeFi Adoption Is Still Far From Mainstream: Chainalysis Report
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: up || Prices: 41034.54, 41564.36, 43790.89, 48116.94, 47711.49, 48199.95, 49112.90, 51514.81, 55361.45, 53805.98
|
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 2021-10-12]
BTC Price: 56041.06, BTC RSI: 66.40
Gold Price: 1758.30, Gold RSI: 46.81
Oil Price: 80.64, Oil RSI: 73.39
[Random Sample of News (last 60 days)]
Investors used the crypto crash after China's ban to buy the most bitcoin in four months last week: CoinShares: • Investors put $50.2 million into assets backed by bitcoin in the week to September 24, the highest since April, CoinShares said on Tuesday.
• Ether-backed assets saw $28.9 million worth of inflows, the most since early June.
• The continued inflows suggest investors saw China's ban last week as a buying opportunity and not a deterrent.
• Sign up here for our daily newsletter, 10 Things Before the Opening Bell.
Investment in bitcoin hit its highest in four months in the week to September 24, when China announced it would ban trading and mining of cryptocurrencies, triggering an aggressive sell-off that traders used as a buying opportunity, according to CoinShares' weeklyreporton Monday.
Assets backed by bitcoin drew in the most investment, with inflows of $50.2 million over the week ending September 24, the most since the week of April 19, the data showed.
There was also $28.9 million worth of inflows for assets backed by ether, the most since June 7. Solana-backed assets saw inflows worth $3.9 million and cardano-backed products registered inflows of $2.6 million.
These inflows continued despite China's clear ban on all crypto-related activities on the mainland on Friday that resulted in a steep drop in crypto prices. Bitcoinfellalmost 6% to below $42,000 and ether tumbled almost 8% to hover around $2,800 before steadily recovering in the days following.
"The continued inflows suggest the recent headwinds for digital assets, such as the widened China ban, were seen as buying opportunities for investors," the report said.
Over the month so far, bitcoin has seen $100.9 million worth of inflows, solana has seen $59.8 million worth of inflows. Ether assets have grown by $35.1 million, with the majority coming in last week.
One of the side-effects of China's ban was a swell of buying in tokens attached todecentralizedexchanges, which do not rely on any kind of intermediary and which market watchers said would benefit particularly from Chinese users looking to circumvent the existing restrictions.
So-called "DEX tokens" like uniswap, sushi or pancake, surged on Monday, in some cases by as much as almost 40%. Most of these platforms run on the ethereum network so, investors have tapped into this by betting heavily on the blockchain's ether token.
"Sentiment has remained relatively buoyant for ethereum as the amount staked to Eth2.0 progresses," the report said.
Read the original article onBusiness Insider || Kraken discovers Bitcoin ATMs can be easily hacked: Even though Bitcoin ATMs offer a convenient way for consumers to purchase cryptocurrencies, Kraken Security Labs claims that ease of use can sometimes come at the expense of security. Kraken uncovered multiple hardware and software vulnerabilities in a commonly used cryptocurrency ATM: The General Bytes BATMtwo (GBBATM2). Multiple attack vectors were found through the default administrative QR code, the Android operating software, the ATM management system and even the hardware case of the machine. Krakens crew discovered that numerous ATMs are built on the same default admin QR code, whicha llows anyone with this QR code to walk up to an ATM and jeopardise it. Most of the BATM ATMs are located in the United States and Canada, with a combined figure tallying in at around 5,300, while Europe has around 824 ATMs installed. Now Kraken Security Labs wants to create awareness for users around potential security flaws and alert the ATM producers so they can fix these problems. Kraken Security Labs reported all problems and suspicions to General Bytes on April 20, 2021, they released patches to their backend system (CAS) and alerted their customers, but full fixes for some of the issues may still require hardware revisions. Never let anyone steer you towards Bitcoin ATM Bitcoin ATM scams happen pretty often nowadays. In July this year, in Berkeley, California, two women lost a total of $15,000. Both women received a phone call from a person claiming to be a public safety officer in the city and were told that they had arrest warrants out for them on serious charges including tax evasion and money laundering. The two women were then instructed to stay on the phone, go to the bank, take all the money from their bank accounts and transfer it via Bitcoin ATMs. In one case, the victim transferred 10,000 dollars to the fraudsters, whereas in the other case, 5,000 dollars were transferred. In Winnipeg, Canada, when criminals tacked up a printed notice to a Bitcoin ATM, claiming that the machine was undergoing maintenance while a new software upgrade was being installed. Story continues As a result, users were advised to deposit the coins they bought not in their own wallets, but rather use a QR code provided on the paper. Of course, if any user sends the crypto to that account associated with the QR code, he loses Bitcoin. Of Winnipegs 20 Bitcoin ATMs, police found posters on two of them, but no victims came forward. The main problem is that it is really difficult to trace the money. Internet security company Malwarebytes warned about a new trend of petrol station Bitcoin ATM scams in which threat actors would post fake jobs listings to dupe applicants into money laundering. The company warned: If youre dealing with QR codes in public, on ads or posters, check that they havent been tampered with (look for stickers with a new QR code placed over an original). And if anyone tries to steer you towards a Bitcoin ATM, move swiftly in the opposite direction. || ‘Rich Dad’ Author Robert Kiyosaki Recommends Bitcoin Investments Before ‘Biggest Crash in History’: Robert Kiyosaki, famed investor and author of the “Rich Dad” series of personal finance books, is yetanother finance personality speaking out in favor of cryptocurrency investments, along with gold and silver.
Explore:10 Cheap Cryptocurrencies To BuyFind:Treasury Yields To Blame for Dip in FAANG Stocks, Expert Claims ‘Their Achilles’ Heel Is Higher Rates’
In several tweets over the past few weeks, Kiyosaki touted his preference for these investments, even going so far as to say, “Get gold, silver, Bitcoin, ethereum before the biggest crash in history.”
He later tweeted that he didn’t plan to sell any of his bitcoin, gold, or silver holdings, as he has “lots of cash.” However, he even added an October date to his prediction, making time of the essence:
While Kiyosaki’s views may seem fringe — or even alarmist — his thoughts on crypto could be worth considering. In spite of32 crypto hacks in 2021 so far, leading to a loss of $2.99 billion, and two of the biggest hacks in crypto history occurring within the past three months, coins such as Bitcoin and Ethereum continue to gain steady value. Bitcoin broke $50,000 USD in value just today.
Related:‘Rich Dad Poor Dad’ Author Robert Kiyosaki: You Should Never Say ‘I Can’t Afford That’
Likewise, some high-profile investors are diversifying their portfolios with gold investments. Palantir Technologies, headed by Peter Thiel, recently purchased $50 million in gold bars as a hedge against inflation. Yahoo Finance pointed out that in the first six months of 2020, with uncertainty in the stock market due to the COVID-19 pandemic, gold rose in value from $1,509 to $1,772 an ounce. Likewise, the price of silver has risen 30% in the past two years.
If investing in cryptocurrency or gold or silver bullion seems too risky or complicated, experts recommend investing in stocks tied to these assets. For instance, Tesla’s investment in Bitcoin has the EV maker’s stock tied to the crypto’s value.PayPal has a feature that allows users in the U.S. and U.K. to buy, sell and hold cryptowithin their platform. And graphics processing unit manufacturer Nvidia’s products are in high-demand with crypto miners, Yahoo Finance wrote.
Examine:Deflation, Inequality and Hackers Encompass Top Economic Concerns of 3 Prominent Wall Street ExpertsHow To Get Rich Quick:5 Ideas for Making Bank in Short Order
ETFs and investments in gold mining companies can allow you totake advantage of rising gold priceswithout the inconvenience of buying, storing and protecting bullion.
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This article originally appeared onGOBankingRates.com:‘Rich Dad’ Author Robert Kiyosaki Recommends Bitcoin Investments Before ‘Biggest Crash in History’ || U.S. Dollar Index (DX) Futures Technical Analysis 92.535 92.765 Retracement Zone Controlling Direction: The U.S. Dollar finished lower against a basket of major currencies on Wednesday after a report on the private sector of the U.S. labor market came in well below expectations, while the heavy-weighted Euro climbed to a one-month high following higher-than-expected inflation data. On Wednesday, September U.S. Dollar Index futures settled at 92.450, down 0.185 or -0.20%. The greenback fell after the ADP National Employment Report showed private payrolls rose by 374,000 in August, up from 326,000 in July but well short of the 613,000 forecast. Other data showed U.S. manufacturing activity increased more than anticipated in August, but a measure of employment in factories fell to a nine-month low, likely due to a shortage of workers. The Euro, which represents 57% of the dollar index, rose against the greenback to a one-month high as inflation worries persisted following data on Tuesday that showed Euro Zone inflation increased to 3% year-on-year in August, the highest in a decade and above the European Central Banks 2% target, as well as the 2.7% Reuters forecast. Daily September U.S. Dollar Index Daily Swing Chart Technical Analysis The main trend is down according to the daily swing chart. A trade through 92.380 will signal a resumption of the downtrend. A move through 93.195 will change the main trend to up. This is not likely but the index is down nine sessions from the main top on August 20, which puts it inside the window of time for a potentially bullish closing price reversal bottom. The minor trend is also down. A trade through 92.790 will change the minor trend to up. This will also shift momentum to the upside. The short-term range is 91.780 to 93.750. The index is currently trading on the weak side of its retracement zone at 92.535 to 92.765, making it resistance. The minor range is 93.750 to 92.380. If the minor trend changes to up then its retracement zone at 93.065 to 93.230 will become the next target zone. Daily Swing Chart Technical Forecast The direction of the September U.S. Dollar Index on Thursday is likely to be determined by trader reaction to 92.585. Bearish Scenario A sustained move under 92.585 will indicate the presence of sellers. Trading on the weak side of the Fibonacci level at 92.535 will indicate the selling is getting stronger with 92.380 the next likely downside target. Taking out 92.380 will signal a resumption of the downtrend. This could trigger an acceleration to the downside if the selling volume is strong enough with 91.780 the next likely target. Bullish Scenario Overtaking and sustaining a move over 92.585 will signal the presence of buyers. The first upside targets are 92.765 and 92.790. Story continues Taking out 92.790 will change the minor trend to up. This could trigger a surge into the 50% level at 93.065 and a resistance cluster at 93.195 to 93.230. For a look at all of todays economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: Crude Oil Price Update Trader Reaction to $67.63 to $69.02 Retracement Zone Sets the Tone Bitcoin 2 Scenarios For The Low Volume Environment EOS, Stellars Lumen, and Trons TRX Daily Analysis September 2nd, 2021 GBP/USD Daily Forecast U.S. Dollar Stays Under Pressure Gold Price Futures (GC) Technical Analysis $1795.00 to $1828.80 Zone Controlling Near-Term Direction Ethereum, Litecoin, and Ripples XRP Daily Tech Analysis September 2nd, 2021 View comments || 7 Cheap Stocks to Buy Under $10 Right Now: Fractional investing gives small investors an opportunity to consider exposure to large-cap stocks that trade well above $1,000. However, its a good idea to also consider buying cheap stocks that could provide multi-fold returns. Investors can buy a decent lot size and these stocks can be potential portfolio catalysts. For example, one year ago, Marathon Digital (NASDAQ: MARA ) stock was trading at $2.38. Currently, the stock trades for more than $40. Of course, not all stocks will give 5-fold or 10-fold returns. However, even if only a few cheap stocks double, its likely to have a meaningful impact on the overall portfolio. Lets talk about seven cheap stocks that are trading for less than $10. Their low price isnt their only appeal; these stocks seem to be undervalued and positioned for a strong rally in the next few quarters. The stocks highlighted below are from diversified sectors that might have multi-year positive tailwinds. InvestorPlace - Stock Market News, Stock Advice & Trading Tips 8 Tech Stocks to Buy Offering Solid Dividends With that in mind, these seven stocks whose shares are trading for less than $10 look promising right now: Kinross Gold (NYSE: KGC ) Hecla Mining (NYSE: HL ) Cronos Group (NASDAQ: CRON ) Transocean (NYSE: RIG ) Paysafe Limited (NYSE: PSFE ) Bitfarms (NASDAQ: BITF ) Electrameccanica Vehicles (NASDAQ: SOLO ) Cheap Stocks: Kinross Gold (KGC) Cellphone with business logo of Canadian mining company Kinross Gold Corp. on screen in front of webpage. Source: T. Schneider / Shutterstock.com Among gold mining stocks, KGC stock looks attractive after underperforming in the current year. While there are talks about a relatively early rate hike, I am bullish on gold for two reasons. First and foremost, the delta variant and its economic impact might delay the rate hike. Furthermore, even if interest rates trend higher, real rates are likely to remain negative for an extended period. Gold can therefore remain in a long-term uptrend. Specific to Kinross Gold, I like the fact that the company is positioned for production growth in the coming years. Kinross has guided for production of 2.1 million ounces for 2021. However, production is expected to increase to 2.7 million ounces in 2022 and further to 2.9 million ounces in 2023. Story continues Therefore, Kinross will benefit from higher gold prices coupled with incremental production. Its worth noting that the company has a total liquidity buffer of $2.2 billion as of the second quarter of 2021. Further, for the last quarter, the company reported free cash flow (FCF) of $183 million. This indicates Kinross has ample financial flexibility to finance capital expenditures. KGC stock also offers an annualized dividend of 12 cents, which translates into a dividend yield of 2%. Dividend growth is likely in the next few years as production upside translates into higher free cash flows. Hecla Mining (HL) HL stock: a close up of a bar of silver Source: Shutterstock Hecla Mining has the largest reserve and resource of silver in the United States. Additionally, the company is into gold mining. Hecla has been reporting robust financials. For Q2 2021 , the company clocked sales of $218 million and an EBITDA of $84 million. Importantly, the company also reported $54.4 million in free cash flow for the quarter. This implies an annualized FCF potential of more than $200 million. From a credit perspective, Hecla reported cash and equivalents of $181 million. With a total liquidity buffer of more than $400 million, the company is well-positioned to accelerate exploration and production investments. The companys net-debt-to-adjusted-EBITDA ratio has also declined to 1.2 as of June 2021. Its also worth noting that Hecla Mining has an attractive all-in-sustaining-cost for gold and silver. If precious metals trend higher, the companys FCF is likely to swell further. Even at current levels of gold and silver, healthy cash flows are likely. 7 Dividend Aristocrat Stocks to Buy in September for Gains and Stability Another important point to note is that between 2013 and 2020, the companys silver reserves have surged by 250% to 188.4 million ounces. For the same period, gold reserves have increased by 645% to 2.4 million ounces. Clearly, with a healthy reserve life, the company is positioned for sustained growth. Cheap Stocks: Cronos Group (CRON) CRON stock: field of lush green marijuana plants with morning sun and mountain in background Source: Shutterstock With a potential Federal-level legalization of cannabis on the horizon in the United States, the sector is appealing. According to estimates, the U.S. cannabis industry is expected to be worth $41 billion by 2026. Additionally, there are opportunities for growth in Canada and Europe. In that context, CRON stock is worth considering. Its shares have remained almost sideways in 2021, and an upside seems inevitable from current levels around $6.60. One factor that makes Cronos attractive is its wide portfolio of products . Currently, different brands focus on wellness, adult-use and CBD. The company is already present in the United States, Canada, Germany, Israel and Australia. These markets have the potential for high growth in the coming decade. In the medicinal cannabis segment, Cronos has partnered with Technion to conduct pre-clinical research on skin treatments that use cannabinoids. A new, evidence-backed medicinal cannabis application can be a long-term game changer for the company. For the first half of 2021, Cronos reported healthy revenue growth of 54% year-over-year (YOY) to $28.2 million. For the same period, the company reported an adjusted EBITDA loss of $86.3 million. Cash burn is unlikely to be a continuing concern if the companys growth accelerates further. Cronos has a robust cash buffer and the backing of Altria (NYSE: MO ). In another important development, PharmaCann seems to be planning a U.S. initial public offering (IPO) at a valuation of more than $1 billion . Cronos has a 10.5% stake in the company, which is focused on medicinal cannabis. There is potential for significant value creation from PharmaCann in the next few years. Transocean (RIG) a picture of an oil rig in the middle of the ocean on a cloudy day Source: Shutterstock Offshore rig service providers were among the worst hit when the pandemic drove oil prices lower. However, with Brent oil remaining firm above $70 per barrel, a gradual recovery is occurring in the sector. RIG stock is one of the best cheap stocks from the offshore drilling sector. Its shares have already surged by 194% in the last 12 months, and further upside seems likely as order intake accelerates. As of Q2 2021, Transocean reported an order backlog of $7.4 billion. The front-end loaded backlog ensures clear revenue visibility for the next 12 to 24 months. Additionally, order intake has been robust in the recent past. For example, the company won a $252 million contract for a newbuild ultra-deepwater drillship. At the same time, as industry conditions improve, new orders are likely to deliver a higher EBITDA margin. For the first six months of 2021, Transocean reported operating cash flow (OCF) of $249 million. Its likely that OCF will improve further in the coming quarters. Transocean also has a cash buffer of $988 million and an undrawn credit facility of $1.3 billion. Therefore, the companys credit metrics seem to be witnessing a gradual improvement. The 7 Best Stocks to Buy for September With a modern fleet and gradually improving industry conditions, Transocean is well-positioned for growth. RIG stock is an appealing buy at current levels around $3.67. Cheap Stocks: Paysafe Limited (PSFE) Paysafe Card Iphone Display with Keyboard Mouse and Red Pen Source: Sulastri Sulastri / Shutterstock.com In January 2021, PSFE stock touched a high of $19.57. However, the stock has subsequently been in correction mode. At current levels around $8.80, the stock seems ready for a reversal. Even as PSFE shares trend lower, the digital wallet solutions provider has been on an acquisition spree. In August 2021, the company has made three acquisitions. The companys latest purchase is V iafintech , which is likely to accelerate the companys growth in Germany. For the current year, Paysafe has guided for revenue of $1.54 billion and an adjusted EBITDA of $488 million. This would imply a healthy EBITDA margin of 32%. Paysafe is also a proxy-play for the iGaming sector, which is growing at a healthy pace. The company has a relatively high leverage. As of June 2021, the company reported a net-debt-to-adjusted-EBITDA ratio of 4.3. However, I dont see this as a concern. Paysafe has been delivering strong profitability at operating level and debt servicing is likely to be smooth. Another long-term growth driver for Paysafe is likely to be the cryptocurrency segment. The company already has its digital wallet live on 30 crypto exchanges with 37 cryptocurrencies available for trading. Overall, with a big addressable market and visibility for steady growth, PSFE stock is worth a buy. Bitfarms (BITF) Concept art of crypto mining with little figuring and a Bitcoin (BTC) token. Source: Shutterstock As crypto is increasingly adopted and Bitcoin (CCC: BTC-USD ) trends higher, investors can profit with BITF stock. In the last month, the stock has trended higher by 28% with room for more upside as the company aggressively expands. Currently, Bitfarms has one of the largest mining operations in North America with 69 megawatts (MW) of built-out capacity. The company expects this to increase to 168 MW in 2021 and further to 210 MW in 2022. This positions Bitfarms for strong growth over the next few years. For Q2 2021, it reported revenue of $36.7 million and an adjusted EBITDA of $23.8 million. As the number of Bitcoins mined increases on a quarter-to-quarter basis, the company is likely to have ample financial flexibility. In August 2021, the company also announced an at-the-market offering . Bitfarms intends to raise $500 million through this move, which will further boost its liquidity position. I also like that Bitfarms is gradually moving toward utilizing renewable energy for mining operations. As of May 2021, the company had mined 1,006 Bitcoins with hydroelectricity. 7 Best ETFs to Buy to Cover a Broad Spectrum of Opportunities Overall, BITF looks appealing at current levels around $5.95. I would not be surprised if the stock doubles within the next few quarters. Cheap Stocks: Electrameccanica Vehicles (SOLO) The Solo vehicle from Electra Meccanica Vehicles (SOLO) drives through Vancouver Source: Luis War / Shutterstock.com SOLO stock looks like an interesting electric vehicle play, as Electrameccanica offers a unique product. The stock has underperformed, declining by 43% in the last six months. However, the stock has remained sideways recently; it seems the worst of the downside is over. As an overview, Electrameccanica is the designer and manufacturer of a single-seat electric vehicle called the Solo. Currently, it has an asset-light model with manufacturing outsourced to Zongshen Industrial Group . Its annual production capacity is 20,000 Solos. One of the differentiating factors for the company is a low base selling price of $18,500. Furthermore, micro-mobility options similar to the Solo are gaining traction. The company has already established a retail presence in several locations in the United States. The coming quarters should be interesting in terms of sales growth. Its worth noting that in June 2021, Electrameccanica filed for a $750 million mixed securities shelf offering. This is likely to provide the company with liquidity for sales, marketing, product development and capacity expansion expenses. 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, Faisal Humayun did not have (either directly or indirectly) any positions in any of the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modelling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector. More From InvestorPlace Stock Prodigy Who Found NIO at $2
Says Buy THIS Now Analyst Who Found Microsoft at $0.38 Names #1 Pick for the AI Boom Americas #1 EV Stock Still Flying Under the Radar The post 7 Cheap Stocks to Buy Under $10 Right Now appeared first on InvestorPlace . || European Equities: Evergrande News and the FED to Test Support Once More…: Spanish GDP (QoQ) (Q2)
French Manufacturing PMI (Sep) Prelim
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It was a bullish day for the European majors on Tuesday.
The CAC40 rose by 1.50% to lead the way, with the DAX30 and the EuroStoxx600 ending the day up by 1.43% and by 1.00% respectively.
There were no major stats to change the mood from Monday’s session, leaving dip buyers to deliver support on the day.
For the majors, the upside came in spite of rating agency Standard & Poor’s stating that an Evergrande default was likely.
It’s a was a particularly quiet day on the Eurozone economic calendar. There were no major stats to provide the majors with direction on the day.
Economic data was limited to August housing sector numbers that had a muted impact on market risk sentiment.
For the DAX:It was a mixed day for the auto sector on Tuesday.BMWandVolkswagenrose by 1.14% and by 0.97%, respectively, withContinentalending the day up by 0.47%.Daimlerbucked the trend, however, falling by 0.04%.
It was also a mixed day for the banks.Deutsche Bankfell by 1.32%, whileCommerzbankrose by 1.19%.
From the CAC, it was a mixed day for the banks.Soc GenandCredit Agricolefell by 0.33% and by 0.09% respectively, whileBNP Paribasrose by 0.41%.
It was a relatively bullish day for the French auto sector, however.Stellantis NVandRenaultended the day up by 0.19% and by 0.20% respectively.
Air France-KLMandAirbus SErose by 1.49% and by 1.20% respectively.
It was back into the red for theVIXon Tuesday, ending a 2-day winning streak.
Partially reversing a 23.55% surge from Monday, the VIX fell by 5.25% to end the day at 24.36.
On Tuesday, the NASDAQ rose by 0.22%, while the Dow and S&P500 ended the day down by 0.15% and by 0.08% respectively.
It’s yet another particularly quiet day ahead on the Eurozone’seconomic calendar.
There are no major stats to provide the European majors with direction mid-week.
From the U.S there are also no major stats to consider later in the session, leaving the markets in limbo ahead of the FOMC policy decision and projections due out after the European close.
Updates on Evergrande will also be in focus going into the European open.
In the futures markets, at the time of writing, the Dow Mini was down by 49 points.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
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• DraftKings Pursues UK Acquisition and Catches NFT Fever || What Changed in Crypto Markets While You Were Sleeping — Aug 24: BeInCrypto –
BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.
Bitcoin update
On Aug 23, BTC reached a high of $50,500. This was very close to the 0.618 Fib retracement resistance level and the $51,200 horizontal resistance area.
BTC created a long upper wick and a potentialshooting starcandlestick. Today’s close is crucial since it can either confirm or reject the potential reversal from the shooting star.
This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto || Dozens of Korean words added to Oxford English Dictionary: (Getty Images) The Oxford English Dictionary (OED) has added more than 20 new words of Korean origin to its latest edition as South Korean culture continues to cement itself into our everyday vocabulary . The latest update of the OED includes the prefix K-, which is an abbreviation for “Korean” and is “combined with other words to form nouns relating to South Korea and its popular culture”. Such words include K-pop, K-beauty, and K-drama, all of which are hugely successful industries throughout the world. The word “hallyu”, which means “Korean wave”, has been added and refers to South Korean pop culture and entertainment. The dictionary said in its definition of “hallyu”: “The increase in international interest in South Korea and its popular culture, esp. as represented by the global success of South Korean music, film, television, fashion and food. “Also: South Korean popular culture and entertainment itself. Frequently as a modifier, as in hallyu craze, hallyu fan, hallyu star.” A number of popular Korean dishes have also been added to the dictionary, including “banchan” (small side dishes of pickles and vegetables served with rice), “bulgogi” (thin slices of beef or pork which are marinated then grilled or stir-fried), and “japchae” (a type of stir-fried translucent noodles). The word “mukbang” also makes an appearance in the new edition, referring to hugely popular videos of people eating large quantities of food while talking to their audience. Mukbang videos have been known to rack up millions of views and have spawned YouTube celebrities. Several words referring to older features of Korean culture also made it into the update, including “hanbok” (a traditional Korean outfit worn by both men and women), and “Tang Soo Do” (a Korean martial art). The proliferation of South Korean culture was noted by OED World English editor, Danica Salazar, who wrote : “We are all riding the crest of the Korean wave, and this can be felt not only in film, music or fashion, but also in our language.” Story continues The OED said that adding so many Korean words to its update was a recognition of a shift in how language is adopted, invented and shared outside the English-speaking world. “The adoption and development of these Korean words in English also demonstrate how lexical innovation is no longer confined to the traditional centres of English in the United Kingdom and the United States,” it said. “They show how Asians in different parts of the continent invent and exchange words within their own local contexts, then introduce these words to the rest of the English-speaking world, thus allowing the Korean wave to continue to ripple on the sea of English words.” Read More Bitcoin price breaks $50k, surpassing Facebook’s market value Matt Baker reveals how a back fracture and other injuries haven’t put him off country life WhatsApp rival Signal gets ‘millions’ of new users after Facebook’s outage || TAOP Signs Memorandum of Understanding to Establish Cryptocurrency Mining Joint Venture for Building 100MW Capacity in Kazakhstan: SHENZHEN, Aug. 27, 2021 (GLOBE NEWSWIRE) -- Taoping Inc. (NASDAQ: TAOP, the “Company” or “TAOP”), a provider of blockchain technology and smart cloud services, today announces that its wholly-owned subsidiary Taoping Digital Assets (Asia) Limited ("TDAA") and a Kazakhstan company Aral Petroleum Capital LLP ("APC") have signed a memorandum of understanding (“MOU”) to establish a joint venture in Kazakhstan, of which TDAA and APC will own 51% and 49%, respectively. TDAA will control the board of directors of the joint venture. APC is an oil and gas exploration and development company operating in Kazakhstan, a wholly-owned subsidiary of Caspian Energy Inc. It holds an exclusive license which entitles it to explore and develop certain oil and gas properties known as the "North Block", an area of 1,916 square km, and a production contract for the area known as "East Zhagabulak". With a strong industry position and integration experience, APC is able to ensure high-quality utility-scale electricity supply at a low cost to the joint venture. The joint venture plans to invest and build cryptocurrency mining sites with a total capacity of 100MW, the first stage construction of 30 MW is expected to complete within three to six months. TDAA will have the priority to deploy cryptocurrency mining machines owned by TDAA or its partners. The joint venture will carry out operation and maintenance of cryptocurrency mining machines in Kazakhstan. In addition, the joint venture plans to rent out excess operating capacity to third parties for additional income. On April 15, 2021, the Company announced that it has signed a Bitcoin mining machine purchase agreement with Bitmain Technologies Limited for the purchase of Antminer S19j Pro Bitcoin mining machines with a total hash rate of 300,000 TH/s. TAOP plans to deliver these mining machines to Kazakhstan for deployment once the construction of the mining sites is completed. Story continues “We continue to look for global opportunities that can bring business growth. With year-round cool temperatures, low real estate and labor costs, and relatively low energy prices, Kazakhstan is becoming a crypto mining hub that currently ranks 3rd in the world in terms of hash rate power,” said Mr. Jianghuai Lin, Chairman and CEO of TAOP, “We are working actively to capture current unique opportunity of the rapidly changing cryptocurrency mining environment to create value for shareholders.” About Taoping Inc. Taoping Inc. (TAOP) is an integrated group of technology and financial companies with business in Mainland China, Hong Kong, and other overseas countries. Relying on its unique strengths in cloud technology and chip supply chain, TAOP provides solutions and cloud services to industries such as film and television production, education, new media, artificial intelligence and asset management. The Company is dedicated to the research and application of blockchain technology as well as investment and management of financial assets at home and abroad. To learn more, please visit http://www.taop.com/ . Safe Harbor Statement This press release may contain certain "forward-looking statements" relating to the business of Taoping Inc., and its subsidiaries and other consolidated entities. All statements, other than statements of historical fact included herein, are "forward-looking statements" in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by the use of forward-looking terminologies such as "believes", "expects" or similar expressions, involve 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. Investors 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 those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website ( http://www.sec.gov ). All forward-looking statements attributable to the Company and its subsidiaries and other consolidated entities or persons acting on their behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. For further information, please contact: Taoping Inc. Chang Qiu Email: chang_qiu@taoping.cn http://www.taop.com/ or Dragon Gate Investment Partners LLC Tel: +1(646)-801-2803 Email: taop@dgipl.com || Comparing Dogecoin, Baby Doge and Shiba Inu: Is There One To Watch?: Bitcoin has been the most popular and well-known cryptocurrency since it literally began the asset class in 2009. However, as speculative fervor has broken out among many markets over the past few years, literally hundreds of new cryptocurrencies have been created, with many skyrocketing in price. Some of these newer cryptos don’t, as of yet, have any discernible value in the blockchain world, and many have whimsical names, such as Dogecoin, Baby Doge and Shiba Inu. Here’s a look at the story behind these three particular cryptos and whether or not they are worth keeping tabs on as an investor.
Find Out More:Is the Shiba Inu Coin the Cryptocurrency You Should Be Watching?See:Where Does Cryptocurrency Come From?
Dogecoin was initially created as a joke by two software engineers in December 2013, with a Shiba Inu — a breed of hunting dog in Japan— as its mascot.What began as a joke is now a full-fledged, functioning cryptocurrency. In fact, as of Aug. 9, Dogecoin has the fifth-largest market cap of any cryptocurrency at $31 billion.
Consider:Dogecoin’s Highs and Lows: Is It Still Worth an Investment?
Part of the reason that Dogecoin is so well-known is thanks to the tweets of Tesla CEO Elon Musk. Some market participants have even dubbed Musk the “Dogefather” for his support of the crypto.Yet, Musk is not alone in his support for Dogecoin. Billionaire entrepreneur and “Shark Tank” investor Mark Cuban told CNBC’s “Make It” that Dogecoin is the “strongest” cryptocurrency as a medium of exchange,to which Elon Musk immediately agreed, tweeting, “I’ve been saying this for a while.”All of this combined to spike Dogecoin’s price yet again, rising about 10% in 24 hours.
Although investing in any cryptocurrency is a speculation, the former “joke” crypto seems to have staying power. The coin actually exists as a medium of exchange, and it’s got backing from at least two prominent and popular billionaires.
More Economy Explained:Ethereum (ETH): What It Is, What It’s Worth and Should You Be Investing?
Baby Dogeis another crypto with a fanciful side, as it was designed by the Dogecoin community as the offspring of its “father,” Doge. The crypto’s own website emphasizes its playfulness, as it states that “Baby Doge seeks to impress his father by showing his new improved transaction speeds & adorableness.”
Unlike other cryptos, however, Baby Doge isn’t meant to be used as a currency. Rather, owners are incentivized to simply hold on to the coin and hope that it increases in value. While Dogecoin, along with many other cryptos, has no cap on the amount that can be mined, Baby Doge is pre-mined, meaning no more can be created.According to the Baby Doge website, this makes the coin hyper-deflationary and designed to become more scarce over time. Baby Doge holders are rewarded with a 5% fee from every transaction on the Baby Doge network, paid in Baby Doge.An additional 5% of each transaction is retained by the network for liquidity.
Read:How To Invest In Cryptocurrency: What You Should Know Before Investing
Although Baby Doge references its transaction speeds as a draw for investors, it’s really focused on increasing its price via a six-pronged roadmap.While the supply of Baby Doge is “limited,” that cap sits at a massive 420 quadrillion tokens,part of the reason its current share price is at an unbelievably low $0.000000001464, as of Aug. 23.The idea is that with a share price so low, early adopters will want to hoard massive numbers of tokens in the hopes of an eventual payoff.
Take a Look:What Is the Next Big Cryptocurrency To Explode in 2021?
Shiba Inu was originally created as the mascot for Dogecoin, but now it operates as its own token on the Ethereum blockchain. Unlike some cryptos which limit their supply, Shiba Inu acts more like Baby Doge, with a nearly unfathomable circulation of 1 quadrillion coins.Shiba Inu has a similarly low price, at just $0.0000082 as of Aug. 23.One major difference between Baby Doge and Shiba Inu, however, is that Shiba Inu strives to be an Ethereum-based alternative to Dogecoin by supporting an NFT art incubator and other projects on its decentralized exchange known as Shibaswap.
Find Out:Why Some Money Experts Believe In Bitcoin and Others Don’t
As Shiba Inu serves a workable function and is based on popular and well-known Ethereum, some investors believe that it might have more legs than Baby Doge. However, Shiba Inu is still extremely speculative, and like many altcoins trying to find their place in the crypto universe, a single tweet can create massive price movements up or down. Not surprisingly, Elon Musk is one of the main culprits with Shiba Inu as well; a single tweet from Musk stating, “My Shiba Inu will be named Floki,” was enough to push the Shiba Inu price up 25%.Investors would be wise to tread with caution on this one.
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Last updated: Aug. 24, 2021
This article originally appeared onGOBankingRates.com:Comparing Dogecoin, Baby Doge and Shiba Inu: Is There One To Watch?
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: up || Prices: 57401.10, 57321.52, 61593.95, 60892.18, 61553.62, 62026.08, 64261.99, 65992.84, 62210.17, 60692.27
|
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 2020-08-10]
BTC Price: 11878.11, BTC RSI: 71.25
Gold Price: 2024.40, Gold RSI: 75.03
Oil Price: 41.94, Oil RSI: 58.10
[Random Sample of News (last 60 days)]
Think Tank Releases Report on the Future of Decentralised Finance: BERLIN, GERMANY / ACCESSWIRE / July 15, 2020 /dGen released theirlatest report, "Decentralised Finance: Usecases and Risks for Mass Adoption"This report analyses the current landscape of Decentralised Finance (DeFi), including an in-depth look into the risks and future evolution of the space.
A number of notable leaders in DeFi projects, such as Aave, Synthetix, Consensys, Nexus Mutual, have weighed in on both the current state of DeFi and the changes they expect to see in the next 5-10 years. These quotes can be found below.
There is also a strong focus on what the impact will be in Europe and for European citizens.
Our top predictions for 2030 are:
• Stablecoins will become a critical component of international payments in Europe and beyond.
• Major audit firms, such as Deloitte and KPMG, will be a crucial part of the DeFi ecosystem.
• Effective insurance will make DeFi a trillion dollar industry.
• Traditional financial institutions in Europe will offer their first DeFi-enabled savings and pension accounts.
• DeFi will provide income for thousands of gamers, streamers, and influencers.
• There will be more pain as we grow.
Bitcoin was initially hyped as the new money. However, as digital currencies evolve,DeFihas proved that toppling state-controlled financial systems requires a far greater variety of services.
DeFi has seen major evolutions in the past two years, from stablecoins providing an alternative to volatile cryptocurrencies to autonomous lending that can function without any intermediaries.
However, even with all of these advancements, the sector has taken some hits this year, with a handful of hacks through early 2020. The top issues in Decentralised Finance, as well as current and future solutions necessary to protect early adopters, foster development, and make this industry scalable for mass adoption are all covered in this report.
Even while DeFi may not be fully matured, it seems it's not yet time to throw the baby out with the bathwater. The rise of these solutions to help protect early adopters along with the high interest rates on DeFi loaning, greater transparency, and peer-to-peer services that allow people to maintain complete ownership of assets throughout financial services, means that many are very excited about this subsector of the blockchain industry succeeding.
This report takes a hard look at what can be done now to mitigate risk when engaging in this young sector, as well as the challenges currently faced and potential fixes to not only make Decentralised Finance viable for the future, but a workable alternative to traditional banking systems for global populations.
Quotes
Marc Zeller, Integrations Lead, Aave:
'In DeFi, everybody has the same deal. Everything is open source, and the interest rates are the same. If you bring $100 or you bring $1 million, you get exactly the same deal. And that's brand new [in financial services]'.
'In five years, 90% of the users [of DeFi], in terms of individuals, will be liquidity providers looking for a safe haven for their savings. And they will use these kinds of third party applications, super easy to use.'
'Right now the biggest issue with all DeFi protocols, all users are at the same risk[...] That's why with Aave, we are going to launch staking very soon, and put the risk into the end of the LEND token holder.'
'If we don't reach a trillion dollar market in the next 15 years, it's a failure.'
'What prevents a lot of people from getting into DeFi is that they say, 'Yeah, I only make 0.5% a year in my traditional finance saving accounts, but I know that in case of failure, the bank will give me my money back'. [...] And I think it will be a gamechanger to have an insurance scheme to say, worst-case scenario, your money's back. So why stay at 0.5% interest per year?'
Kain Warwick, Founder of Synthetix:
'DeFi still has significant tail risk, so insurance is likely to remain very costly in the short term, but as protocols mature, costs should come down over time, allowing for simpler and more useful insurance to emerge'.
Hugh Karp, Founder of Nexus Mutual:
'I actually think regular people are going to start getting exposed through games or other communities first. Something with tokens underneath that you've earned through participation, which can then lead to exchanging them for digital USD'.
'As more regular people enter DeFi, protecting users is going to be paramount'.
Piers Ridyard, CEO of Radix:
'The complexity of getting yield via DeFi is going to start to be abstracted away by simple consumer apps that offer competitive rates on their savings, instant liquidity, and *almost* the same degree of deposit protections as their banks provide. From the consumer perspective, this is just going to be another financial app in their phone'.
About dGen
dGen is an independent non-profit think tank focusing on how emerging technology can contribute to a decentralised future in Europe and what this might mean for people, society, private entities, and the public sector over the coming decades.
dGen works with researchers and strategic partners to produce high-quality research reports about how emerging technologies can impact and shape existing industries. Find all of our reports atwww.dgen.org.
Press contact:
Francisco Rodríguezfrancisco@dgen.org
SOURCE:dGen
View source version on accesswire.com:https://www.accesswire.com/597641/Think-Tank-Releases-Report-on-the-Future-of-Decentralised-Finance || Nvidia Option Trader Bets $1.3M On Near-Term Upside: Shares ofNVIDIA Corporation(NASDAQ:NVDA) traded slightly lower on Thursday, but the stock has been among the top performers in the market so far in 2020.
Despite concerns over the economic impact of a potential second wave of coronavirus infections, investors have been piling into Nvidia stock this year. Even with the stock up 55.7% year-to-date, one option trader made a big bet that there’s more upside ahead in the next week.
The Nvidia Trades
On Thursday morning,Benzinga Prosubscribers received four option alerts related to unusually large Nvidia option trades:
• At 9:30 a.m. ET, a trader bought 1,020 Nvidia call options with a $365 strike price expiring on Jun. 26. The contracts were purchased near the ask price at $13 and represented a $1.32 million bullish bet.
• At 9:35 a.m. ET, a trade was executed for 300 Nvidia call options with a $370 strike price expiring on Friday. The trade was executed near the midpoint of the bid-ask spread at $4.55.
• At 10:21 a.m. ET, a trader sold 346 Nvidia call options with a $380 strike price expiring on Friday. The contracts were sold at the bid price of 60 cents and represented a $20,760 bearish bet.
• Less than a minute later, a trade was executed for 306 Nvidia call options with a $370 strike price expiring on Friday. The trade was executed near the midpoint of the bid-ask spread at $2.371.
• Why It's Important
Even traders who stick exclusively to stocks often monitor option market activity closely for unusually large trades. Given the relative complexity of the options market, large options traders are typically considered to be more sophisticated than the average stock trader. Many of these large options traders are wealthy individuals or institutions who may have unique information or theses related to the underlying stock.
Unfortunately, stock traders often use the options market to hedge against their larger stock positions, and there’s no surefire way to determine if an options trade is a standalone position or a hedge. In this case, given the relatively large size of the largest Nvidia option trade, there’s certainly a possibility it could be a hedge on a large position in Nvidia stock.
Nvidia A Top Semiconductor Pick
The large call purchase comes the same day Bank of America analystVivek Aryareiterated Nvidia as one of his top semiconductor stock picks with secular growth potential due in part to its exposure to cloud computing. Arya said long-term investors shouldn’t get too wrapped up in near-term cyclical semiconductor cycles.“COVID-19 is an accelerant, and not a change-agent, for structural changes (movement to cloud, 5G adoption, telework, gaming, healthcare AI etc.) generally favoring growth semis,” he wrote. Nvidia remains Bank of America’s top large-cap semiconductor stock pick.
Earlier this week, a Bank of America gaming survey revealed that only 8% of PC gamers currently have GPUs capable of delivering performance on-par with the upcoming PlayStation and XBox console refreshes expected out in the second half of 2020. Analysts speculate the launch of the new consoles could trigger a major GPU upgrade cycle among PC gamers, creating a near-term boom in Nvidia demand.
At the same time,TechRadar reportedNvidia may also be working on an update for its lower-end GTX 1650 GPUs, which could pose an unexpected challenge to rivalAdvanced Micro Devices, Inc.(NASDAQ:AMD).
However, on Tuesday, Morgan Stanley downgraded Nvidia from Overweight to Equal-Weight and said there are better near-term opportunities for investors in semiconductor stocks more levered to a rebound in consumer spending.
NVDA Chartby TradingView new TradingView.widget( { "width": 680, "height": 423, "symbol": "NASDAQ:NVDA", "interval": "D", "timezone": "Etc/UTC", "theme": "light", "style": "1", "locale": "en", "toolbar_bg": "#f1f3f6", "enable_publishing": false, "allow_symbol_change": true, "container_id": "tradingview_239e7" } );Benzinga’s Take
The nearly $1-million call purchase has a break-even price of $78, suggesting at least 3.2% upside over the next six trading sessions.
Given the extremely short-term nature of the trade, it’s unlikely the trader is making a bet based on Nvidia’s long-term fundamentals. Either the trader is anticipating a bullish catalyst to come sometime in the next week, or the trader is betting that the tech sector will gain some steam next week and Nvidia will lead the market higher.
Do you agree with this take? Emailfeedback@benzinga.comwith your thoughts.
Related Links:
AIG Option Trader Bets 0K On More Downside Ahead
How To Read And Trade An Option Alert
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© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Coinbase Open Sources Technical Standard to Streamline Token Listings: Crypto exchange Coinbase is hoping to streamline how it adds new tokens to its platform. The San Francisco-based exchange rolled out a new open-source technical framework for asset listings Wednesday, making it easier for the company to integrate tokens it wants to add by giving developers a blueprint for what their projects need to provide. Dubbed Rosetta , the release began as a project aimed at helping Coinbase more quickly add assets to its platform, product manager Nemil Dalal told CoinDesk. “Each blockchain has a node software. They’re all custom and they all have different APIs that you use, and so integration to them can often be very customized, [require] a lot of manual effort,” he said. “So what Coinbase built was some type of middleware that we use to be able to integrate with these blockchains.” The team is now open sourcing this technical framework for projects hoping to list their tokens on the exchange. “The goal is to dramatically decrease the time it takes to bring a blockchain onto Coinbase,” he said. See also: Cryptos on Coinbase’s New Exploratory List See Prices Jump 17% on Average Related: Coinbase Open Sources Technical Standard to Streamline Token Listings To be clear, this framework is only applicable to blockchains that have never been integrated with Coinbase. Dalal said tokens that, for example, were built on the ERC-20 standard on Ethereum would not benefit from the project – since Coinbase has already onboarded Ethereum and ERC20 tokens, it already has the technical infrastructure to support new tokens. Nor does the framework let new projects bypass Coinbase’s other non-technical requirements for listing, which include security and legal reviews, among other factors. “None of that changes because those are our requirements based on our regulatory relationships, compliance relationships,” Dalal said. Middleman Rosetta, which Coinbase began working on five or six months ago, is “middleware,” meaning it is a piece of software that sits between Coinbase’s own systems and the blockchain it’s working with. When implemented, its API will query the blockchain in question, checking on, for example, the number of tokens in a block. Story continues Dalal said knowing the balance for a given address with a block height is one of Coinbase’s requirements for security purposes. If a customer wants to withdraw some funds, the exchange needs to know exactly how many tokens it has and which block they’re from. Jai Prasad, a product manager at Coinbase, told CoinDesk that this also necessary for the customer experience. “If you want to look up your balance on Coinbase’s app … the node API should return [your] balance at this block is 100 bitcoin,” he said. “Some nodes don’t do that, so nodes don’t give you the block number. You could look up your balance and it could show you a wrong balance, it could show 99 bitcoin but actually at this block it’s 100, so it’s pretty important for users and this is a design decision we’ve learned our users want.” See also: Coinbase’s Ex-Lead Lawyer Sold $4.6M in Stock to Head US Banking Watchdog Until this point, blockchains being onboarded to the Coinbase platform had to implement these types of features manually, which meant it could take months between the exchange approving a token listing and actually listing it. In theory, the amount of time can be reduced to just minutes or days. “Coinbase’s team created this tooling that you are able to basically sync the whole blockchain and verify that every operation you are reporting is actually there and it’s consistent, which are kind of really important things when you want to [list something] on a custodian solution,” said Mariano Cortesi, an engineer with Celo, one of the teams which tested Rosetta. He said the challenge for his team was ensuring that the important details Coinbase requires were all recorded, including when a balance changed. Wider adoption While Rosetta’s primary aim is to help Coinbase more easily onboard tokens to its own platform, Dalal said it can potentially see adoption beyond just this one use case. If other exchanges and platforms start adopting and contributing to Rosetta’s code, it could theoretically unite the broader crypto ecosystem, he said. “One thing that blockchains have come to us with is, ‘Look we have to talk to so many different exchanges, and they all have custom integration requirements,’” he said. “The power of something like this is that it makes it easier for us to talk to a bunch of different exchanges.” Widespread adoption of Rosetta could spur interoperability, allowing devs to build similar tools that work across different blockchains. This could extend to block explorers, Dalal said. “Obviously there’s very few asset-agnostic block explorers, ones that work across different blockchains,” he said. See also: Coinbase Outlines Tech Plan to Help Avert Future Outages Now, Coinbase is putting Rosetta out to the broader community under an Apache license in the hopes that other exchanges will “kick the tires on it.” “All the code is available, it can be forked, it can be edited, so if there’s another exchange or another project that wants to put their code on it they can do that and also suggest their own changes,” Dalal said. “In a perfect world there are people building on top.” A handful of projects have already begun testing the new tools, including Filecoin, Celo, Near, Oasis, Coda, Ontology, Kadena, Handshake, Blockstack and Sia, Coinbase said in a blog post Wednesday. Kadena co-founder Will Martino said Rosetta was flexible enough for his multichain network (Kadena uses sharded chains to boost scalability) to integrate, despite the Kadena protocol’s unique features. “This levels the playing field for projects and modernizes the exchange industry. Large, traditional, ‘old boys’ club’ VCs will likely look unfavorably upon Rosetta because it diminishes their perceived importance with listings while simultaneously maximizing the value of a project’s technical capabilities,” he said in an emailed statement. Related Stories Market Wrap: Stocks Rally on Possible Stimulus but Bitcoin Is Flat at $9.5K OKEx Taps Paxful to Provide New Fiat-to-Crypto On-Ramps || Euro Treads Water as EU Policymakers Continue to Debate Economic Rescue Deal: The Euro showed signs of life earlier in the session, hovering near a four-month high against the U.S. Dollar on Monday as bullish investors held on to hopes that European Commission policymakers would break the stalemate and finally hammer out an economic rescue deal as their long-winded weekend summit reached a record length. At 0:59 GMT, the EUR/USD is trading 1.1422, down 0.0004 or -0.03%. Reuters is reporting that EU leaders were at an impasse over a proposed 750 billion Euro ($858.30 billion) recovery fund, which is supposed to be raised on behalf of them all on capital markets by the EU’s executive European Commission. That would be a historic step towards greater fiscal integration for the union, but a group of “frugal” wealthy north European states were pushing for a smaller fund and seeking to limit how payouts are split between grants and repayable loans. A source told Reuters $350 billion Euros on grants was the maximum acceptable for the camp of thrifty northerners, compared to 400 billion seen as the bare minimum by many others, including Germany and France. Diplomats said it was possible that they would abandon the summit and try again for an agreement next month. But market players expect them to reach a deal in the future even if they fail to do so this time. Deal Will Have Major Impact on Euro While the outcome of the negotiations is still up in the air early Monday, most market players agree that an agreement or a collapse in the talks would have a major impact on the single currency when trading resumes. Early Monday, the Euro is banging on a four-month high on hopes that Europe’s fiscal leaders would move toward agreement on the massive 750 billion-euro rescue fund. A positive outcome by the end of the EU summit, whenever that is, could potentially be the Euro’s ticket to fresh highs for the year. Currently, the EUR/USD is trading 1.1422, just below last week’s 1.1452 high. Taking out this level could drive the Forex pair into the March 9, 2020 top at 1.1496, followed closely by the January 1, 2019 main top at 1.1514. The latter is a potential trigger point for an even steeper rally with some speculators setting their sights on 1.1570 and 1.1622, both former tops. 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: The Crypto Daily – Movers and Shakers – July 20th, 2020 Gold Price Futures (GC) Technical Analysis – Strengthens Over $1810.50, Weakens Under $1791.10 E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Strengthens Over 10791.25, Weakens Under 10708.50 ‘No Company is Entirely Immune From a COVID-19 Led Economic Slowdown’ Says Fidelity’s Simnegar Oil Price Fundamental Weekly Forecast – Weak Gasoline Demand Could Weigh on Prices Bitcoin and Cardano’s ADA Weekly Technical Analysis – July 20th, 2020 || IPRO is the New Way of Buying and Selling Properties Globally: Kediri, June 24, 2020 (GLOBE NEWSWIRE) -- If we look back in the past, the property sector has functioned as the most stable and consistent store in values. The property sector has been considered as a potential asset that is always on the top levels and would never witness a fall in terms of values. Property is just not an asset but a powerful tool to bring wealth for all of us. At present, an investment property can be in the form of residential such as houses, townhouses, or non-residential such as land, commercial complexes, or industrial property. The property sector has been witnessing tremendous popularity and thus it is predicted to gain higher profits over the forecast period. One such company called I-PRO Token who dedicatedly uses Advanced Blockchain Technology Powered by Global Property Ecosystem by solving the problems of investing property across borders. Currently I-PRO Token is planning on creating a powerful project. The project is reportedly based on the decentralized international property market. About I-PRO TOKEN The company allows agents and brokers to list their products and services in the marketplace. Moreover, it offers enhanced leasing capabilities, reporting, and selling management. The property sector provides or develops connections between international entities. Through bringing blockchain and the financial institutions, property industry, and property developers together they can easily connect and accomplish transactions with 100% transparency. The parties consisting of developers, users, developers, and financial institutions ensure to get benefits from blockchain technology. This is a global property marketplace platform powered blockchain technology. Furthermore, I-PRO Token holds a vision to earn a title to become a pioneer and develop blockchain technology in the World’s Best Global Property Ecosystem. It also has a mission to develop blockchain technology as a secure digital asset and to integrate global property ecosystems with blockchain technology. As it is a consistently growing company it also visions to see the growth of property market activities. I-PRO a new way to buy and sell properties I-PRO Token is a newly launched crypto token intended to be built on the ERC20 platform. Similar to the cryptocurrency such as Ethereum, Bitcoin, Litecoin, and Ripple, I-PRO Token is used as a payment method that is fast, safe, and cheap in pricing. I-PRO Token also delivers as a digital asset value that offers several benefits to the holder. I-PRO Token brings a lot of scopes especially in investing in the property industry. I-PRO Tokens are built to create a sustainable ecosystem in the property industry. I-PRO Tokens provides a fund contribution in a lot of property industry ecosystem projects with blockchain technology. This is a combination of real property investment and digital asset investment that is integrated through I-PRO Token. IPR-Tokens are transparent and can be easily purchased and sold by individuals across the globe. Also, it allows every individual to trade to get a higher profit. IPR Tokens can also have access to trade with several types of cryptocurrency. Moreover, IPR Tokens hold extraordinary volatility of the price after entering the global cryptocurrency exchange market. This expands the level of trust for the IPR Token. Most of the people buy and store IPR Token so the price of IPR token. The more it holds an I-PRO Token, the more it benefits. The individual buys an I-PRO Token at a low price and sells it at a high price. I-PRO Token is committed to the mission to build a property platform that can easily solve the problems. Through the property platform, they aim to offer an effective solution to several pirates such as property agents, financial institutions, governments, housing developers, and property users. With this property platform, I-PRO Token also mission to allow users with multiple things such as direct discussions with property purchases, property developers, property search, and understand the process of working on property, legality, and management of correspondence, and others. Future Executions of I-PRO Token As data plays the most vital part in the large projects, I-PRO Token is strategizing to know the area of the market they can work on. Also, they are focusing on the collaborations and partnerships with potential vendors such as banks, government, building equipment companies, and financial institutions. In terms of growth, I-PRO Token is aimed to develop the maximum user-base in property platforms so that they can benefit from rising IPR prices. Media details Name: I-PRO TOKEN Website : www.i-protoken.com Email : business@i-protoken.com || 3 Reasons Behind the Recent Bounce in Bitcoin: ETFs in Focus: Finally, Bitcoin has got back its days.The cryptocurrency is now hovering below the $11,000 mark, representing a year-to-date gain of 57.3%. In fact, the cryptocurrency has skyrocketed about 122% since this year’s low touched on Mar 16. With the current pricing, Bitcoin is edging toward the one-year high of $11,956 hit last August. Not only Bitcoin, cryptocurrency like Ethereum has also touched year-to-date highs.
Many industry experts have been scratching their heads to understand the logic behind the monstrous rally behind Bitcoin, that too in such a trying time like this. Global central banks and governments are pouring cash like anything to keep the respective economies going amid the coronavirus scare.
An article published on CNBCnoted that Bitcoin is emerging as a safe-haven asset like gold.SPDR Gold SharesGLD has rallied this year as gold hit an all-time high thanks mainly to safe-haven demand and extremely low U.S. interest rate levels. A few years back an analyst indicated that “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.”
Cryptocurrency is also being fast accepted by big corporate houses. For instance,JPMorgan Chase & Co.(JPM) has introduced JPM Coin – a digital coin designed to make instantaneous payments using blockchain technology.AT&T Inc.(T) has also began accepting crypto payments via a partnership with BitPay. Microsoft is also accepting bitcoin payments on its online store.
Square’s Cash App witnessed bitcoin revenues during the first quarter of the year soaring 367% to $306 million from $65 million a year ago. Quarter on quarter, the figure is up 71%. Q1 revenues surpassed that of fiat currencies.
“The increase was due to growth in the number of active bitcoin customers, as well as growth in customer demand.” per Square. PayPal too intends to offer crypto purchasing through its PayPal and Venmo apps, per an article published on Forbes.
Per analysts, a dovish Fed, negative real interest rates and the search for a new reserve currency have boosted demand for bitcoins of late. An article published on CNBC a few years back cited, “bitcoin is a very volatile asset” but doesn’t have a strong correlation with other asset classes.
Though bitcoin ETFs are not available right now, investors can choose to invest in the related but much stable investing options like blockchain ETFs. Per a market source, “the blockchain in Bitcoin literally acts [as] 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 with the concept through blockchain ETFs likeReality Shares Nasdaq NexGen Economy ETF (BLCN,Amplify Transformational Data Sharing ETF (BLOK andFirst Trust Indxx Innovative Transaction & Process ETF (LEGR.
Also, ETFs offering exposure to the blockchain ecosystem via semiconductor companies that make chips required for bitcoin mining can be played. The most-popular funds includeiShares PHLX Semiconductor ETF (SOXX)andVanEck Vectors Semiconductor ETF (SMH).
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 reportSPDR Gold Shares (GLD): ETF Research ReportsiShares PHLX Semiconductor ETF (SOXX): ETF Research ReportsVanEck Vectors Semiconductor ETF (SMH): ETF Research ReportsReality Shares Nasdaq NexGen Economy ETF (BLCN): ETF Research ReportsAmplify Transformational Data Sharing ETF (BLOK): ETF Research ReportsFirst Trust Indxx Innovative Transaction Process ETF (LEGR): 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 || In Banking First, ING Develops FATF-Friendly Protocol for Tracking Crypto Transfers: ING Bank, the Netherlands-based lender with a penchant for blockchain, has developed a protocol to assist with the Financial Action Task Force’s Travel Rule requirement for crypto exchanges and firms dealing in digital assets. The solution initiated by ING – currently dubbed the Travel Rule Protocol or TRP – has also been backed by Standard Chartered Bank, Fidelity Digital Assets and BitGo, plus a gaggle of other familiar firms from the crypto space. The FATF’s recommendation in October 2018 to include virtual asset service providers (VASPs) within the scope of its anti-money laundering mandate has spawned a raft of technical solutions and a messaging standard. Related: Blockchain Bites: PayPal's Push, FATF's Rules and 'Overstated' Libra Fears However, this is the first time any bank has been involved in a crypto Travel Rule solution. “ING, as an innovation leader on blockchain/DLT, sees increasing opportunities with regard to Digital Assets on both asset-backed and native security tokens,” Hervé Francois, Blockchain Initiative Lead on Digital Assets at ING, told CoinDesk in an email. “With a regulatory first approach, we are actively involved in different working groups to support standardization of this emerging ecosystem and ultimately pioneer mass adoption.” Read more: Inside the Standards Race for Implementing FATF’s Travel Rule The institutional focused TRP was also partly backed by the InterVASP working group which released the IVMS-101 standard , a way VASPs can agree on the format of the message payloads their solutions will transfer. Related: Identity Startup Notabene Launches Exchange Tool for FATF Travel Rule Compliance According to a TRP document seen by CoinDesk: “We are proposing a collaboratively-managed infrastructure that offers VASP members a way to query for the existence of address entries. An address entry is defined by, among others, an LEI [Legal Entity Identifier] and public key information.” Standard Chartered and Fidelity did not return a request for comment by press time. A source close to ING said the bank started looking at solutions to the FATF’s “Recommendation 16” for digital assets last year. The plan was to “get an understanding of where the industry is going and see what the opportunities would be for banks when they can play in that space,” said the source. “To be clear, ING is not looking at doing anything with crypto assets and payment tokens like bitcoin,” said the source. “The focus, for now, is more on security tokens and things like that.” Story continues Banking play The protocol features a RESTful (Representational State Transfer) API, which is basically a way of transferring data from one place to another on the internet. Participating VASPs must be able to publish address entries; by doing so they associate an identity and data linked with that address entry, the paper says. “You could compare it more to SWIFT,” said the banking source, referring to the interbank messaging system that’s been in place since the 1970s. “It could be used for private purposes or be open-sourced code and be adopted by people as a way to exchange that transaction information.” ING is known to be highly innovative when it comes to blockchain, getting deeply involved in privacy-enhancing tech like zero-knowledge proofs . But this has always been on the enterprise side of things. Read more: ING Bank Is Bringing Bitcoin ‘Bulletproofs’ to Private Blockchains The takeaway from this Travel Rule “experiment” is that banks like ING and U.K.-based Standard Chartered Bank are quietly edging closer towards the world of crypto and regulated virtual asset service providers (VASPs). BitGo CTO Ben Chan said via email: “BitGo said his company is committed to providing clients with a single solution for travel rule compliance and will be integrating multiple protocols in order to achieve this solution. We support the TRP solution because it is open, transparent and simple, allowing us to provide a solution to clients quickly and satisfy the FinCEN Travel Rule requirements.” Other participants in the TRP working group include Crypto Broker AG, Metaco, 21 Analytics and OSL/BC Group, according to the paper. Pelle Braendgaard, CEO of recently launched FATF Travel Rule solution Notabene, said his team would be supporting ING’s TRP solution. “Judging by the members, the protocol will probably become important,” said Braendgaard. Related Stories In Banking First, ING Develops FATF-Friendly Protocol for Tracking Crypto Transfers In Banking First, ING Develops FATF-Friendly Protocol for Tracking Crypto Transfers View comments || Blockchain Bites: EY’s Auditing Slip and Bitcoin’s Long Line of Pseudonymous Developers: Balancer fell victim to a “flash loan” exploit, a mining conglomerate sees potential in blockchain and a shareholders association said EY should have caught Wirecard’s multi-billion-dollar blackhole earlier.
Flash loans are one of many novel financial products made possible through decentralized technologies. But with innovation comes risk. 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.
Related:First Mover: The Return of the Bitcoin Retail Investor (and Why That’s a Good Thing)
Flash loans & hacksA hacker exploited a smart contract loophole early Monday to drain$500,000-worth of tokensfrom DeFi liquidity provider Balancer Pool. CTO Mike McDonald said in a blog the attacker had borrowed $23 million-worth of WETH tokens in a flash loan from dYdX, and used those token to trade against themselves with a variety of investment-grade Stratera tokens. A flash loan was used in February to cripple the bZx exchange. These types of attacks leverage aprotocol’s built in capabilitiesand novel financial instruments, rather than hacking the code base. This hack follows news of870 bitcoinsstored on Blockstream’s Liquid Network being made vulnerable to network moderators’ seizure last week, said Summa founder James Prestwich.
Blockchain dealsMining conglomerate BHP completed a$14 million dealwith a Chinese metals giant using the blockchain-based MineHub platform to process contract terms, exchange documents online and provide visibility and accountability along the supply chain. Elsewhere, the South Korean government chose blockchain startup Sendsquare to develop aproof-of-conceptblockchain registry to help analyze, anonymize and store clinical data for diabetes.
Privacy and pseudo-anonymityBitcoin’s culture is heavily influenced by the rights topseudonymity and privacyonline. Beginning with Satoshi Nakamoto, a long line of crypto developers have taken the route of remaining pseudo-anonymous for personal safety as well as to maintain consistent worldviews. Sometimes seen as needless obfuscation, masked identities allow people to “be who you are,” Engineer Kee Hinckley said. It also informs the projects being built, such as the many privacy-forward experiments on Bitcoin.
Auditing slipA German shareholder body has accused “Big Four” auditor Ernst & Young of failing to spot a$2.1 billion black holein Wirecard’s books soon enough. Shareholders’ association SdK filed criminal damages against EY Friday for not flagging Wirecard’s accounting practices earlier, reports CNBC. The group holds EY, and two current and one former employee in particular, responsible for not alerting the authorities and investors sooner, which ultimately culminated in the precipitous drop in the Wirecard share price.
Related:
SEC Chair Crypto Mom?Commissioner Hester “Crypto Mom” Peircecould become SEC chair,if President Donald Trump’s nomination of current Chairman Jay Clayton to U.S. Attorney for the Southern District of New York goes through. If Clayton is confirmed, the president will likely appoint, as is tradition, the senior-most commissioner belonging to his political party; that would be Crypto Mom.
• The Finance Department of Switzerland thinks existing tax law covers DeFi (Decrypt)
• Compound Finance is a “TVL” unicorn, as of Friday (Decrypt)
• Crypto M&A is led by exchanges,The Blockfound
• Ross Ulbrichtweighs inon MakerDAO
• Will Bitcoin see areturn of the retailinvestor?
• Matic Network went live with itsstaking solution
Back in the greenBitcoin chalked outminor price gainson Sunday, ending its longest run of daily losses for half a year. The leading cryptocurrency by market value jumped 1.2%, having suffered losses in each of the preceding five days, according to CoinDesk’sBitcoin Price Index. Prices last took a beating for five consecutive days in early December 2019. Both five-day drops saw prices decline by around $900 over the 5-day periods. Sunday’s rise has kept the multi-week long trading range of $9,000 to $10,000 intact.
Volatility trendsRecent market data suggests thatbitcoin is becoming less volatile,while stocks are increasingly volatile, CoinDesk Head of Research Noelle Acheson said, in the latest Crypto Long & Short newsletter. If the trend continues, it could have profound effects on bitcoin’s adoption, as Fidelity found the biggest barrier to entry is crypto’s market turbulence. “With the narrowing of the differential, that barrier could disappear, or at least significantly diminish. It’s not just that bitcoin’s volatility seems to be trending down – if volatility overall is more acceptable, bitcoin’s swings could be seen as less of a negative,” Acheson said. Though for some, she remembers, volatility is the whole point. “Where else are you going to get high potential returns?”Subscribe hereto get Crypto Long & Short in your inbox.
Valuing bitcoinNearly half of investors in a recent survey said a lack of fundamentals keeps them from participating. In a 30-minute webinar July 7, CoinDesk Research will explore one of the first and oldest unique data points to be developed by crypto asset analysts: Bitcoin Days Destroyed.
We’ll be joined by Lucas Nuzzi, a veteran analyst and a network data expert at Coin Metrics. Lucas and CoinDesk Research will walk you through the structure of this unique financial metric and demonstrate some of its many applications.Sign up for the July 7 webinar“How to Value Bitcoin: Bitcoin Days Destroyed.”
Is the Travel Rule good or bad for crypto? BothProfessor Malcolm Campbell-Verduyn and blockchain researcher Moritz Hütten break down what is sometimes thought of as an“existential crisis” for crypto:Financial Action Task Force’s “Travel Rule.” They argue the new requirements will lead to a bifurcation in the industry, with one path moving closer to the regulatory schema big banks follow and one diverging towards underground, grey market dealings.
• Blockchain Bites: EY’s Auditing Slip and Bitcoin’s Long Line of Pseudonymous Developers
• Blockchain Bites: EY’s Auditing Slip and Bitcoin’s Long Line of Pseudonymous Developers || Encrypted Messaging Site Privnote Cloned to Steal Bitcoin: Privnote, a free web service that lets users send encrypted messages that self-destruct once read, has been copied with the reported aim of redirecting users’bitcointo criminals.
In aSunday poston cybersecurity blog KrebsonSecurity, journalist Brian Krebs warned users of a phishing scam that lures unsuspecting victims to a near-identical version of the privnote.com website known as privnotes.com.
However, the fake site doesn’t fully encrypt messages, as Krebs discovered in tests, and can “read and/or modify all messages sent by users.”
Just as worrying, it contains a script that hunts out messages containing bitcoin addresses and changes the original address into the bad actor’s own address in the sent message. This would mean any funds sent would arrive at the bitcoin address owned by the criminal, not the one intended by the message sender.
“Any messages containing bitcoin addresses will be automatically altered to include a different bitcoin address, as long as the Internet addresses of the sender and receiver of the message are not the same,” Krebs said in the post.
“Until recently, I couldn’t quite work out what Privnotes was up to, but today it became crystal clear,” he said.
Krebs explained he’d been notified by the owners of privnote.com that someone had built a clone version of their site and that it was tricking users of the legitimate site.
Related:Encrypted Messaging Site Privnote Cloned to Steal Bitcoin
See also:Crypto Scams Targeting Pacific Communities on the Rise, Say New Zealand Regulators
“It’s not hard to see why: Privnotes.com is confusingly similar in name and appearance to the real thing, and comes up second in Google search results for the term “privnote.” Also, anyone who mistakenly types “privnotes” into Google search may see at the top of the results a misleading paid ad for “Privnote” that actually leads to privnotes.com,” Krebs wrote.
A quick Google search by CoinDesk verified this finding.
Making the scam harder to spot, the self-destructing nature of these messages means victims are unable to go back and check on the bitcoin addresses the script alters: they are sent, read and deleted. According to Allison Nixon, chief research officer at Unit 221B, who helped identify and test the phishing scam, said the script appears to only alter the first instance of a bitcoin address if it’s repeated within a message.
“The type of people using privnote aren’t the type of people who are going to send that bitcoin wallet any other way for verification purposes,” Nixon said in the post. “It’s a pretty smart scam.”
See also:FBI Warns COVID-19 Scammers Are Targeting Crypto Holders
Bitcoin-related scams have been on the rise in recent months, particularly with concerns relating the coronavirus pandemic.U.K residents were warned in late Marchthat scams were being used to exploit fear and uncertainty through text messages and emails posing as an official health organization.
“Even if you never use or plan to use the legitimate encrypted message service Privnote.com, this scam is a great reminder of why it pays to be extra careful about using search engines to find sites that you plan to entrust with sensitive data,” Krebs said.
• Bootstrapping Mobile Mesh Networks With Bitcoin Lightning
• How the Porn Industry Changed During Coronavirus, With Performers Wary of Bitcoin || CrossTower names quantitative crypto hedge fund LedgerPrime as new client and liquidity provider: Companies to discuss crypto market infrastructure trends on joint August 5 webinar, “Building Blockchain Infrastructure: Market Maturation Issues”
New York, July 28, 2020 (GLOBE NEWSWIRE) --CrossTower, a new exchange operator founded by capital markets veterans on a mission to mainstream digital asset investing and trading, today announced quantitative digital asset hedge fundLedgerPrimeas a new client.
New York-based LedgerPrime, one of the most active crypto hedge funds, trades significant volumes of crypto assets on several leading derivatives and spot exchanges today, and CrossTower is now one of its preferred destinations. Founded in 2017, privately held LedgerPrime offers digital asset portfolio management, trading, investment research and data.
“The addition of LedgerPrime as a client enables us to continue improving our spreads and trading volumes following our May launch,” said CrossTower Co-Founder and President Kristin Boggiano. “We’re well-aligned with LedgerPrime to support the growth of these markets by providing a high-caliber onramp for both institutional and retail traders.”
LedgerPrime turned to CrossTower for its rigorous regulatory safeguards and robust technological infrastructure that hedge funds and active traders require. LedgerPrime Chief Investment Officer Shiliang Tang expects a significant pick up in interest from US institutional investors in the digital asset markets this year will continue to increase in the second half of the year, and will be supportive of Bitcoin prices in the medium to long term.
“Naturally, regulated exchanges like CrossTower will play an important role in facilitating this inflow of capital,” Tang explained. “We were also attracted to CrossTower’s innovative inverted maker-taker pricing model, which we see as a crypto industry first.”
Join CrossTower, LedgerPrime, and digital asset accountant and advisory firmFriedman LLCWednesday August 5th 4pm – 5pm ET for their webinar “Building Blockchain Infrastructure: Market Maturation Issues.” Those interested can register for this free webinarhere.
CrossTower supports crypto-to-crypto trading in the nine most widely traded currencies: Bitcoin, Ether, LiteCoin, USDC, Bitcoin Cash, XRP, Stellar, Chainlink, Basic Attention Token and ZCash. Those interested can access the CrossTower platformhere.
ABOUT CROSSTOWER
CrossToweris an exchange operator founded by capital markets veterans on a mission to mainstream digital asset trading and investing. We have built a multi-asset platform for institutional and individual investors with best-in-class safeguards, services and capabilities to make the next-generation financial markets a reality. CrossTower has methodically built its platform, leveraging its trading experience, technology, operational infrastructure, innovative pricing as well as regulatory and client service models, to ensure the success of the exchange at launch and well into the future. For more information, visitwww.crosstower.com.
ABOUT LEDGERPRIME
New York-based LedgerPrime is an actively managed quantitative hedge fund deploying a market neutral, systematic investment approach targeting steady capital growth and superior risk-adjusted returns. We provide our investors a low volatility exposure to digital asset markets via quantitative and systematic strategies utilizing spot and derivative instruments. We provide consistent and predictable market liquidity in both spot and derivative instruments, ensuring high liquidity and market depth, narrow spreads, and transparent price discovery, which allow investors and participants to trade more efficiently. For more, visitwww.ledgerprime.com
CONTACT: Monica Van Horn CrossTower 917-446-6358 mvanhorn@forefrontcomms.com
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 11410.53, 11584.93, 11784.14, 11768.87, 11865.70, 11892.80, 12254.40, 11991.23, 11758.28, 11878.37
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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 2021-04-09]
BTC Price: 58245.00, BTC RSI: 55.15
Gold Price: 1743.30, Gold RSI: 51.69
Oil Price: 59.32, Oil RSI: 46.50
[Random Sample of News (last 60 days)]
Robinhood added 6 million crypto users in last two months: By John McCrank NEW YORK, Feb 25 (Reuters) - Online brokerage Robinhood on Thursday said 6 million new users signed up for its cryptocurrency services in the first two months of 2021 amid higher retail trading volumes and sharp rises in the prices of cryptocurrencies like Bitcoin and Dogecoin. In 2020, Robinhood's crypto division averaged about 200,000 new customers trading on its platform per month, the company said in a blog post. A Robinhood spokeswoman declined to say how many overall customers trade cryptocurrencies through the app, which also offers stock and options trading. The price of Bitcoin, the world's biggest cryptocurrency, rose more than 300% in 2020 and this month hit a record high of $58,354 with a market capitalization above $1 trillion, but has since come off its highs. Dogecoin has also soared in value, getting swept up in the social media-fueled retail trading frenzy that has driven up the price of so-called meme stocks, such as GameStop Corp. Dogecoin was created largely as a satirical critique of the 2013 crypto frenzy, but can still be bought and sold on digital currency exchanges and its price can be volatile. A tweet earlier this month by billionaire entrepreneur Elon Musk in support of Dogecoin, which is based on a popular internet meme, sent the cryptocurrency up more than 60%. Robinhood currently allows customers to buy, sell and hold cryptocurrencies, and recently said it plans to give customers the ability to deposit and withdraw them for transfers to other wallets as well. In January, Robinhood angered some of its customers when it temporarily disabled a feature on its app that allowed users to instantly buy crypto securities due to volatile market conditions sparked by the GameStop trading frenzy. Robinhood is expected to go public this year, with a value of more than $20 billion. (Reporting by John McCrank Editing by Nick Zieminski) || Latest Ethereum price and analysis (ETH to USD): Ethereum is on the brink of breaking its all-time high of $1,827 after it formed another crucial higher low overnight. The world’s second largest cryptocurrency was expected to suffer a sell-off this week following its listing on CME, however news of Tesla’s investment in Bitcoin gave the wider market a much needed lift. At the time of writing Ethereum is trading at $1,769 as it begins to retest the previous all-time high that was set this time last week. Much of Ethereum’s upcoming price action will depend on the trajectory of Bitcoin and whether capital rotates back into altcoins. We have often seen that when Bitcoin rises, altcoins suffer against their respective BTC trading pairs, while when Bitcoin consolidates, that capital flows back into altcoins. ETHUSD chart by TradingView This has caused the likes of Cardano to rally by more than 100% over the past seven days in what has been a clear sign of strength in the altcoin market. If Bitcoin does begin to rally to the $50,000 level from here, Ethereum will most likely come back down and test the level of support at $1,558, with another key support level being at $1,450. However, if Bitcoin continues to consolidate between $45,000 and $50,000, Ethereum will set itself up for a rally to above $2,000 as optimism around the world’s second largest cryptocurrency surges to a new high. For more news, guides and cryptocurrency analysis, click here . About Ethereum Ethereum was launched by Vitalik Buterin on July 30 2015. He was a researcher and programmer working on Bitcoin Magazine and he initially wrote a whitepaper in 2013 describing Ethereum. Buterin had proposed that Bitcoin needed a scripting language. He decided to develop a new platform with a more general scripting language when he couldn’t get buy-in to his proposal. More Ethereum news and information If you want to find out more information about Ethereum or cryptocurrencies in general, then use the search box at the top of this page. Please check the below article: Story continues https://coinrivet.com/ethereum-adopts-erc-1155-as-an-official-standard/ 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. You may be interested in our range of cryptocurrency guides along with the latest cryptocurrency news . Disclaimer: This is not financial advice. || BitMEX Founder Ben Delo Surrenders to US Authorities: One of the founders of the cryptocurrency derivatives exchange BitMEX surrendered to U.S. authorities to face charges of violating the Bank Secrecy Act on Monday. Ben Delo traveled from the U.K. to the U.S. and appeared before Magistrate Judge Sarah L. Cave in a remote proceeding where he pleaded not guilty, according to public court records. He was subsequently released on a $20 million bail bond, on Monday, with a status conference set for May, according to court records. Bloomberg further reported that Delo will be allowed to return to the UK under the terms of his bail. Related: Bitcoin News Roundup for March 16, 2021 Delo, alongside BitMEX co-founders Arthur Hayes and Samuel Reed, were charged with violating the BSA and conspiracy to violate the BSA last October by the U.S. Department of Justice and Commodity Futures Trading Commission. BitMEXs first employee, Gregory Dwyer, was also charged. Under the BSA, financial institutions are required to provide documentation to regulators with transactions above $10,000. Its stated purpose is to prevent criminals from laundering large sums of cash at banks and elsewhere. The charges against Ben are unfounded and represent unwarranted overreach by the U.S. authorities, Rachel Miller, a spokesperson for Delo, told Bloomberg. Ben intends to defend himself against the charges and clear his name in court. Related: State of Crypto: NYDFS Hackathon Is 'Testament' to Crypto's Growth See also: BitMEX Founder Arthur Hayes May Surrender to US Law Enforcement Next Month Earlier this month, Jessica Greenwood, an assistant U.S. attorney for the Southern District of New York, said she had been in talks with Hayes lawyers. Court documents show Greenwood claimed to have discussed with counsel how to arrange for a voluntary surrender for Hayes and for an agreement to appear remotely or come to New York as needed. Reed was arrested last year and subsequently released on bond. Meanwhile, Dwyer remains at large. Related Stories BitMEX Founder Ben Delo Surrenders to US Authorities BitMEX Founder Ben Delo Surrenders to US Authorities View comments || Diginex Anticipating Bitcoin Rise to $175K by End of 2021: CEO: Richard Byworth, CEO of Nasdaq-listed cryptocurrency exchange Diginex, foresees bitcoin tripling in value before 2022. We are modeling out about $175,000 for the price of bitcoin by the end of this year, Byworth said on Monday during an interview with Bloomberg. The bull run is still in its early stages, he said, adding things are going to get a lot more heated from here. Related: Bitcoin Retail Flows on Track To Exceed Institutional in 1Q, JPMorgan Says The top cryptocurrency by market value is trading near $57,940 at press time, having hit a record high of $61,556.59 on Saturday, according to CoinDesk 20 data. Prices have rallied by 500% since early October. According to Byworth, the Federal Reserves massive money printing program and the devaluation of the dollar is having a push effect onto bitcoin. The top cryptocurrency by market value is further facing a supply crisis due to the miners reward halving in May 2020 (which halved the issuance of new units) and increased institutional participation, he said. We are starting to see institutional adoption to a degree that is so extreme, that youve got four companies MicroStrategy, Tesla, Square and now recently Meitu owning 40% of bitcoins annual supply in just a few months, Byworth said. Also read: The Case for $1M Bitcoin Related: 'Shark Tank' Star: Wall Street Investors Need to Know How Their BTC Is Mined Speaking about potential risks to the bullish price outlook, Byworth said an early unwinding of stimulus by the U.S. Federal Reserve would put a bit of a [damper] on things. Markets recently started pricing in a shift in the timing of the first Fed interest rate hike to the end 2022 from 2024. However, according to Byworth, the U.S. central bank has little room to unwind stimulus, as the longer-term technological backdrop is deflationary. When quizzed about regulators concerns about the blockchain technologys anonymity factor, Byworth said that bitcoin isnt anonymous, and can be tracked very very easily. Related Stories Diginex Anticipating Bitcoin Rise to $175K by End of 2021: CEO Diginex Anticipating Bitcoin Rise to $175K by End of 2021: CEO || Morgan Stanley's $150 Billion Investment Unit Thinking About Getting In On Bitcoin Action: Bloomberg: Counterpoint Global, a $150 billion investment unit under Morgan Stanley (NYSE: MS ), could be jumping into Bitcoin . What Happened: Counterpoint is considering making bets on Bitcoin as pressure mounts on investment firms to provide exposure as investors watch the cryptocurrency skyrocket, Bloomberg has reported, citing anonymous sources. The move would require regulatory approval, and Counterpoint still could decide not to make the move, Bloomberg noted. Why It Matters: This would mark another high-profile move into the cryptocurrency, which is seeing a run that shows no signs of stopping. Tesla Inc (NASDAQ: TSLA ) this week said it invested $1.5 billion into Bitcoin and will soon start accepting the cryptocurrency as payment. Similarly, firms like Bank of New York Mellon Corp (NYSE: BK ) and Mastercard Inc (NYSE: MA ) have shown interest in the cryptocurrency. The Grayscale Bitcoin Trust (OTC: GBTC ), a popular investment vehicle to gain exposure to Bitcoin, is up 39.42% year to date. Things have changed quite a bit since 2017, when, amid Bitcoin's earlier historic rise, a Morgan Stanley analyst said the real value of the Bitcoin was zero . At that time the Bitcoin was trading at about $16,000, then an all-time high. Bitcoin is now trading at about $47,000, near its latest historic highs. See more from Benzinga Click here for options trades from Benzinga Biglari's Steak 'n Shake Could File For Bankruptcy As Early As This Coming Week Stanford Researchers: Clubhouse's Raw Audio Data Vulnerable To Access By Chinese Govt. © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || BofA (BAC) Buys Axia Technologies, Boosts Healthcare Payments: Bank of America BAC has acquired Santa Barbara, CA-based Axia Technologies, Inc., a health care payment and technology firm that provides secure patient payments. The terms of the transaction are not yet disclosed. Following the termination of its joint venture with Fiserv Inc. s FISV First Data in mid-2020, BofA has been making efforts to integrate merchant banking services with its proprietary platform. The platform delivers innovative services like real-time payments and digital capabilities to support functions including merchant acquiring, payments processing and settlement, along with value-added services such as analytics and security solutions. The acquisition, which is expected to boost BofAs payment offerings for healthcare clients and further accelerate its capability to serve this key vertical, is part of this initiative. Founded in 2015, Axia Technologies integrated offerings aid the financial performance of healthcare providers by expanding the payment options available to patients and streamlining administrative workflows. Mark Monaco, head of enterprise payments at BofA, said, Working together, we can leverage our joint expertise and capabilities to deliver a comprehensive range of payment and settlement solutions to our healthcare clients and their patients. He further added, Payments are core to what we do at Bank of America. We continue to invest to enable clients with expanded capabilities, and flexible solutions to meet a variety of business needs in an integrated and transparent way that puts the client first. Healthcare payment solutions is a lucrative business for banks. With this acquisition, BofA will likely be able to expand its reach to new opportunities. Shares of this Zacks Rank #3 (Hold) company have gained 30.3% so far this year, outperforming the industrys 23.5% rally. You can see the complete list of todays Zacks #1 Rank (Strong Buy) stocks here . Similar to BofA, several other financial firms including JPMorgan JPM and Synchrony Financial SYF have been undertaking initiatives to strengthen their healthcare payment offerings. Late last month, Synchrony Financials solution CareCredit announced that its Patient Financing application is now accessible in the Epic App Orchard. Thus, health systems and care providers can use the Epics MyChart to offer patients feasible and easy transaction options. Story continues 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 were 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 Fiserv, Inc. (FISV) : Free Stock Analysis Report Synchrony Financial (SYF) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Chia Launches Eco-Friendly Blockchain & New Digital Currency: SOUTH SAN FRANCISCO, CA --News Direct-- Chia Network Highlights Chia Reinvents Digital Money with Energy Efficient At-Home Farming Rewards Chia Blockchain Full Node Count approximates 2,000 in the last 24 hours and exceeds 12,500 since Launch Chia Network Inc. (Chia) today introduced its revolutionary eco-friendly blockchain, its new digital currency known as chia, as well as a new breakthrough smart transaction on-chain programming language called Chialisp. Chias blockchain is a global open-source decentralized network that operates a payment settlement system using chia, its native cryptocurrency. The Company expects its blockchain will be used in a range of transactions, including cross border payments, issuing financial assets, and stable coin issuance. Chia intends to sell software service and support for its open source blockchain and smart transaction software to governments, financial institutions, corporations, and large buyers and sellers of storage. We are very excited to launch Chias new blockchain and smart transaction platform which is easier to use, more energy efficient, and more secure than existing digital money alternatives. Improving upon Proof of Works shortcomings around centralization, electricity consumption and poor programmability, Chias blockchain has the potential to become the core of a new monetary architecture, said Bram Cohen , Chias CEO. As of March 2021, Chias blockchain has approximately 2,000 full nodes in the last 24 hours and 12,500 full nodes since launch as compared to Ethereum with 6,800 full nodes . According to Bram Cohen , a robust amount of independently-operated nodes is considered essential to the success of Chia, as its fundamental value relies upon its ability to remain decentralized. Farming will allow even the smallest farmer running a node a chance to win rewards for validating the network. Running a node is also a more secure way to self-custody chia. "Bram Cohen is one of the greatest living protocol designers (BitTorrent), right up there with Satoshi and Vitalik -- Naval Ravikant Story continues Chia is the answer to Bitcoins climate problem Banks and currencies are susceptible to routine shocks from governmental mismanagement, global financial crises, and generally run on antiquated technologies. Bitcoin was launched during one of these banking crises to try to address these ongoing issues. But Bitcoin now expends approximately 64 terawatt-hours per year, a level of energy consumption comparable to the nation of Switzerland. This level of energy usage is controversial and could get worse as bitcoin adoption and energy prices increase. Further, Bitcoin script is very limited, slow to develop, and has generally required significant changes in the Bitcoin protocol that can take years to be deployed. These delays and limitations have hampered building custody and controls into the Bitcoin blockchain. Ethereum shares Bitcoins reliance on wasteful mining and has additional problems. Almost every deployed Solidity smart contract that has attracted large balances has in some way been compromised. The Solidity scripting language makes it easier to write software than to secure it. Ethereum has mostly become known for the fundraising mechanism known as an ICO, where the fundraiser creates new tokens on the Ethereum network to sell for bitcoin and ether - many of which have uncertain regulatory compliance. Environmentally green chia (XCH) aims to save the planet Chia s blockchain offers functional and environmental advantages to Bitcoin, Ethereum and Ripples existing platforms. The Chia blockchain is more open and accessible than existing financial institutions, more efficient and less wasteful than the Bitcoin and Ethereum blockchain, and better designed for secure smart financial transactions than the Ethereum blockchain while being more decentralized than Bitcoin, Ethereum, or Ripple. Chias blockchain replaces Proof of Work which is the consensus method that Bitcoin and Ethereum use, with the first of its kind Proof of Space and Time which uses significantly less energy and leads to a more decentralized and more secure blockchain. Proofs of Space harnesses unused disk space, rewarding owners of empty space for farming and Proofs of Time add security and time predictability to the network. As Bitcoin uses Bitcoin Script and Ethereum uses Solidity for programming transactions, Chias blockchain uses Chialisp. Chialisp, is a newly developed blockchain programming language and on-chain smart transaction development environment that will unleash the security, transparency, and ease of use that cryptocurrencies promise. Applications running on Chias blockchain are intended to have functionality appropriate for banking. The primary focus for the initial launch will be on core functionality such as financial controls, payments clearing and settlement, and managing the issuance of various assets. One of the primary use cases for chia is in international payments - especially in regions whose governments or financial systems are particularly volatile. The Company expects that the Chia blockchain and Chialisp will facilitate a range of transactions, including facilitating cross border payments, issuing financial assets, and stable coin issuance with best in class custody and controls. Chia - the easiest digital money to farm - is the peoples choice Compared to the existing modern finance platforms, chia is the easiest digital money to farm. In contrast to the technically proficient skills required to join a miner community, all people can farm chia at home for a fraction of the cost. Learn more about chia farming and the chia farmer reward schedule in Chias business Whitepaper . Earn your chia (XCH) rewards today It is straightforward to install the Chia blockchain for Windows, MacOS, and many other platforms as well. Download the Chia blockchain and earn your chia (XCH) rewards now. To learn more about Chias blockchain, please watch the Companys mainnet launch video . Exchange trading - stay tuned Please expect an initial six week period where transactions will be frozen and farmers will only be receiving farming rewards. The Chia blockchain will soft fork in final transaction capabilities during this period in a 1.1 release. The soft fork will be a required upgrade before the six-week period ends. Read all about it in Chia's release notes. About Chia Network Chia Network Inc. was founded by Bram Cohen, the inventor of the BitTorrent protocol. Chia is a state-of-the-art open-source decentralized blockchain, digital currency, and smart transaction platform. Using the first new secure Nakamoto consensus algorithm invented since Bitcoin, Chia aims to operate an eco-friendly, more secure and user-friendly payment system for cross border payments, issuing financial assets, lending, escrow payments, institutional custody, and distributed identity. Chias Proof of Space and Proof of Time-based blockchain reduces waste in Proof of Work-based blockchains. Built to run Chialisp, the companys newly developed on-chain smart transaction programming language, Chias blockchain allows its users to build and execute smart contracts and enable peer-to-peer applications. Chia believes that digital money should be easier to use than cash, harder to lose, and nearly impossible to steal. The Company is funded by leading venture capitalists including Slow Ventures, a16z, Naval Ravikant, Galaxy Digital, Greylock, True Ventures, MetaStable, Stillmark, DCM, and others. The Companys Advisors include Dr. Dan Boneh, Research Partner at a16z and Applied Cryptography Professor at Stanford University; and Dr. Krzysztof Pietrzak, Cryptography Professor of IST Austria; and Ms. Katie Haun, General Partner at Andreessen Horowitz. Investor Relations Contact: Gretchen Lium. For more information, visit https://chia.net and connect with us on Twitter (@chia_project), Facebook , GitHub and LinkedIn. Contact Details Gretchen Lium +1 303-638-9185 gretchen@chia.net Company Website https://www.chia.net/ View source version on newsdirect.com: https://newsdirect.com/news/chia-launches-eco-friendly-blockchain-and-new-digital-currency-422529418 || Bank of America Issues Warning About Potential Stock Market Bubble: bunhill / Getty Images As Bitcoin breaks the $50,000 mark and the Dow hovers in the low 30,000s, a new report from the Bank of America and EPFR Global reveals that the latest market exuberance “may precede a correction ,” Bloomberg reports. See: Bitcoin Breaks $50,000 Ceiling Find: The Top Stocks to Invest In with a Democrat in the White House The BofA and EPFR Global data revealed that stocks had inflows of $58 billion between Feb. 3 and 10, according to Bloomberg, which indicates levels of extreme bullishness. The resulting market sentiment could “trigger a sell signal that hasn’t been set off since January 2018,” said the note from BofA strategists, as reported by Bloomberg. Strategist Meghan Shue from Wilmington Trust said in a CNBC article that the report reveals a troubling trend. “What we have seen from that Bank of America data are record inflows into U.S. large cap, in the tech sector,” said Shue, a CNBC contributor. “But less attention is being paid to areas that we think offer better potential for future returns.” In a note to CNBC’s “Trading Nation,” she warned, “Money is coming off the sidelines and is looking more speculative than it has in years.” See: 20 Unforgettable Photos from the Stock Market’s Biggest Crashes Find: Stocks to Keep in Your Portfolio for the Next 30 Years With potential new regulations on the way, which could encourage more retail investors to get into the game, along with accelerated COVID-19 vaccine distribution that could further stimulate the economy, Shue says a pullback is possible to correct for current market exuberance. Her tip to retail investors? Avoid cryptocurrency, meme stocks and big tech buys. Instead, buy the dip with U.S. small cap stocks, which, she says, “tend to…outperform large by a pretty large margin for a longer period than just a couple of months.” And, of course, remember that for all but the 1% of successful day traders, stocks should be viewed as a long-term investment. More from GOBankingRates Here’s the Average IRS Tax Refund Amount by State 25 Simple Things To Do To Keep Your Car Costs Low 27 Ugly Truths About Retirement PenFed Auto Loan Review: Competitive Rates for Buying and Refinancing This article originally appeared on GOBankingRates.com : Bank of America Issues Warning About Potential Stock Market Bubble View comments || Bitcoin rally falters just short of $50,000 as investors take profit: By Tom Westbrook SINGAPORE (Reuters) - Bitcoin stalled just short of the $50,000 mark on Monday and other cryptocurrencies slipped, as investors took profit from a record-breaking rally that is being driven by a worldwide shift in investor and public attitudes towards digital assets. Bitcoin fell as much as 5.6% to $45,914 in Asian trading hours, after having posting a record high of $49,714.66 on Sunday. Rival crypto ethereum slid more than 8%, though both later pared some of those losses. The dip, for now, taps the brakes on a surge that has vaulted the cryptocurrency from the fringes of finance to Wall Street, as big investors and large companies have begun to take the digital asset seriously and started to buy a lot of it. Bitcoin is up about 20% in the week since electric carmaker Tesla Inc announced it had $1.5 billion in bitcoin and would accept the currency as payment. It has gained more than 60% for the year to date and more than 1,100% since last March. "There's this unadulterated wave of big players (buying) that has continued to push the price higher," said Chris Weston, head of research at Melbourne brokerage Pepperstone. "We might be seeing one or two big funds just cashing out," he said. "The big question is: OK, you want to buy the pullback, but how big is the pullback that we are talking about?" Lunar New Year holidays in Hong Kong and China also kept a lid on moves in Asia, while a tweet from Tesla boss and crypto advocate Elon Musk appeared to weigh on the price of dogecoin, which he had previously promoted. "If major dogecoin holders sell most of their coins, it will get my full support," he tweeted. Dogecoin, a dog-themed currency created as a joke has been volatile in recent weeks owing to a number of Musk tweets referring to it. It has dropped 18.3% to $0.0536 in the past 24 hours according to CoinDesk. Ethereum last sat at $1,740, about 7% below last week's record high of $1,879. Story continues GO WEST Bitcoin's rise has a cryptocurrency that is still hardly used for transactions on the verge of $50,000 - a far cry from software developer Laszlo Hanyecz's 2010 purchase of two pizzas for 10,000 bitcoins. But in contrast to previous speculative bitcoin rallies, driven by traders mostly in Asia, gains in the past few months have been driven by a seismic shift in U.S. investors' attitude. Tesla's investment followed multimillion-dollar bitcoin purchases by business software firm MicroStrategy and a number of Wall Street fund managers, such as billionaire Stanley Druckenmiller, sounding positive on the asset. Bloomberg reported on Saturday that Morgan Stanley's investment arm is also weighing a bet on bitcoin. Meanwhile, bitcoin has made strides toward being a medium of exchange, with PayPal allowing customers to use bitcoin at its merchants and Mastercard preparing to permit cryptocurrency use across its vast network. Bank of NY Mellon last week said it formed a new unit to help clients own and trade digital assets and Japanese financial conglomerate SBI Holdings is in talks with foreign firms for its own crypto joint venture. "In the crypto space, these institutions coming to the party are seen as steps towards acceptable and possible usage," said Michael McCarthy, chief strategist at CMC Markets in Sydney. Bitcoin has been the most prominent beneficiary, he said, but price moves in other cryptocurrencies - such as EOS, which has more than doubled since late December according to CoinDesk - show that the door remains open to rivals. "The race is on amongst those candidates," he said. (Editing by Sam Holmes and Jacqueline Wong) || Bitcoin Rallies Towards $60K Resistance, Short-Term Support Seen at $56K: Bitcoin (BTC) buyers defended support around $54,000 yesterday, but the upside has stalled just shy of the $60,000 resistance level. The short-term trend is improving, which should keep traders active at lower support levels.
• Oversold signals on the hourly relative strength index (RSI) identified inyesterday’s posttriggered a near 10% rally.
• Bitcoin is now overbought on the hourly chart, which was previously seen around $61,000 – the all-time-high that was short-lived.
• Support is around $56,000, defined by the 50-period volume weighted moving average on the hourly chart.
• The daily chart still shows slowing upside momentum, but trend support remains intact.
• Bitcoin Rallies Towards $60K Resistance, Short-Term Support Seen at $56K
• Bitcoin Rallies Towards $60K Resistance, Short-Term Support Seen at $56K
• Bitcoin Rallies Towards $60K Resistance, Short-Term Support Seen at $56K
• Bitcoin Rallies Towards $60K Resistance, Short-Term Support Seen at $56K
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 59793.23, 60204.96, 59893.45, 63503.46, 63109.70, 63314.01, 61572.79, 60683.82, 56216.18, 55724.27
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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 2020-07-27]
BTC Price: 10990.87, BTC RSI: 84.67
Gold Price: 1931.00, Gold RSI: 81.96
Oil Price: 41.60, Oil RSI: 60.49
[Random Sample of News (last 60 days)]
Power Struggle Inside Bitmain ‘Hard Forks’ Bitcoin Miner Production: The ongoing battle between the co-founders at Bitmain has now essentially hard forked the world’s largest bitcoin miner manufacturer into two different operations and supply chains for making its flagship AntMiner equipment. Wu Jihan, the co-founder who ousted his rival co-founder Micree Zhan Ketuan last year, registered a new entity on July 16 in Shenzhen, China. The new entity, called Guiji Yanghang, is a subsidiary of another recently incorporated company named Beijing Guiyuan Dalu, which is controlled by Wu’s side. Wu removed Zhan from Beijing Bitmain in October, following a long-time power struggle between the two. But Zhan made his comeback in June to control the entity again after winning favor from authorities earlier this year. Related: Bitmain One person familiar with Wu’s plan, who wasn’t authorized to speak, said the new Shenzhen entity is to build out a separate supply chain and manufacturing process for making the AntMiner product. This is a countermove to Zhan also taking over Beijing Bitmain’s long-time Shenzhen factory after his return to power last month. Bitmain, which raised more than $700 million in 2018, was once the most-valued crypto startup in the world at a staggering $14.5 billion valuation. But its dominance in the crypto mining industry has been seriously eroded by competitors since last year amid its internal power fight for control of the company. Wu’s move is the latest twist in a power struggle that could create greater confusion for global customers buying the firm’s equipment. It might be unclear, for example, which side would own the AntMiner brand, its shipment logistics and the post-sale services. Read more: Leaked Transcript Details Power Struggle Inside Bitcoin Mining Giant Bitmain Related: Bitmain Co-Founder Offers Share Buyback at $4B Valuation to End Power Struggle In an internal letter last Friday, Wu explained to all staff at Bitmain again that he had to return last year to take the reins in order to save Bitmain from a cash flow shortage of several hundred million dollars, allegedly caused by Zhan. Story continues Wu added in the letter that he has initiated an alternative supply chain plan to substitute the role of the existing Shenzhen factory that’s affecting the firm’s product shipment. The official WeChat account of the AntMiner brand maintained by Wu’s side published a notice on Monday, apologizing to customers that shipments that were already due by the end of June will be delayed again, citing “external disruption to the company’s management recently.” Further, with Zhan having rehired Bill Zhu, the head of sales at Bitmain who was let go after Wu’s coup last year, the two sides now also maintain their own sales staff. “The next phase of the dispute could focus on the chip ownership [of AntMiner],” the person said. Comeback After being pushed out last October, Zhan, as the largest shareholder of Bitmain, made his way back on June 3 after winning favor from Chinese authorities. In early May, authorities granted him control of Beijing Bitmain Technology, the long-standing operational entity of Bitmain. In a countermove, Wu registered the Beijing Guiyuan Dalu on May 26 and had been trying to transfer the contracts of employees on his side to the new entity. Following his return, Zhan also took over Beijing Bitmain’s Shenzhen factory called Century Cloud Core, where his brother-in-law remains the person in charge, and withheld miner shipments for customers who paid their pre-orders to bank accounts controlled by Wu’s side. Read more: Bitmain’s Power Struggle Takes Toll on Customers as Co-Founder Halts Shipments A second person with knowledge of Bitmain’s internal situation said the Shenzhen factory issue caused pressure for Wu from customers whose shipment was due. As such, creating a separate new line of supply chain and production is a method attempting to resolve the supply chain situation. But it’s unclear at this stage how soon production can begin as Wu would need to persuade technical staff with knowledge of handling the integrated circuit process to come over to his side. Most of them had been working closely with Zhan, the person added. AntMiner trademark Public records show that an effective AntMiner trademark has at least been registered in mainland China and Hong Kong, both filed and owned by Bitmain’s Singapore entity called Bitmaintech Pte. Intriguingly, the same Singapore entity filed a new application for a trademark named “Bitmain Antrack” on June 5, two days after Zhan’s return. But product details relating to this trademark aren’t clear at this stage. Bitmaintech Pte is in parallel with Bitmain Technologies Limited, which is registered in Hong Kong. The two are both direct subsidiaries of BitMain Technologies Holding, the ultimate parent holding group incorporated in the Cayman Islands that controls all Bitmain entities. Read more: How Was It Possible for Bitmain to Oust Its Largest Shareholder Overnight? Zhan owns 36% of the holding group while Wu owns 20%. The Hong Kong entity further owns Beijing Bitmain as well as Beijing Guiyuan Dalu. Currently, Zhan’s side controls Beijing Bitmain and its Shenzhen factory Century Cloud Core while Wu controls Guiyuan Dalu with the new supply chain subsidiary. But as of July 2, a corporate filing of Bitmain Technologies Limited with the Hong Kong government shows that Wu was still the sole executive director at the Hong Kong entity’s board. The two sides have an ongoing legal battle in the Cayman Islands. The legal decision could mark an end to their internal fight as it will rule on whether Zhan still has the dominant voting power over all issues at Bitmain’s parent holding group. Related Stories Power Struggle Inside Bitmain ‘Hard Forks’ Bitcoin Miner Production Power Struggle Inside Bitmain ‘Hard Forks’ Bitcoin Miner Production || Bolton Says Trump Wanted Mnuchin To 'Go After Bitcoin' For Fraud: Report: The price of bitcoin was flat on Thursday after former national security advisor John Bolton revealed in his new book that President Donald Trump reportedly instructed Treasury Secretary Steven Mnuchin to go after Bitcoin [for fraud] " in a conversation in May 2018. At the time, according to Bolton, Trump was discussing potential trade sanctions and tariffs against China. Bitcoin and other cryptocurrencies have been extremely polarizing on Wall Street and in Washington. Bitcoin prices are up 74.1% in the past three months but remain down more than 50% from their 2017 highs. In Their Own Words Plenty of analysts, experts, economists and politicians have weighed in on bitcoin in recent years. Heres a collection of what theyve had to say. I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity... - President Donald Trump, July 2019 . "[Baseball cards, art work, and comic books have] no real intrinsic value, you cant eat a baseball card. Bitcointheres even less you can do with it: at least I can look at my baseball card ... Id rather have bananas [than bitcoin], I can eat bananas." - Mark Cuban, October 2019 . I am concerned that consumers could get hurt...We want to make sure that bad people cannot use these currencies to do bad things. - Treasury Secretary Steven Mnuchin, January 2018 . I would be long bitcoin, and neutral to skeptical of just about everything else at this point with a few possible exceptions. There will be one online equivalent to gold, and the one youd bet on would be the biggest. - Peter Thiel, March 2018 . Nothing against bitcoin, nothing against you know, private currencies... We generally look at some of the risk of cryptocurrencies associated with money laundering and those sorts of issues but were not broadly opposed or supportive of alternative currencies - Federal Reserve Chair Jerome Powell, June 2017 . Cryptocurrencies basically have no value...You can't do anything with it except sell it to somebody else. - Warren Buffett, February 2020. Bitcoin is an attempt to replace fiat currency and evade regulation and government intervention. I dont think thats going to be a success. -Former Fed Chair Ben Bernanke, October 2017. I will just say outright I am not a fan, and let me tell you why. I know there are hundreds of cryptocurrencies and maybe something is coming down the line that is more appealing but I think first of all, very few transactions are actually handled by bitcoin, and many of those do take place on bitcoin are illegal, illicit transactions. - Former Fed Chair Janet Yellen, October, 2018. As an asset class, youre not producing anything and so you shouldnt expect it to go up...I agree I would short it if there was an easy way to do it. - Bill Gates, May 2018. Mad Money into bitcoin? Hmmm.. not top of mind. But then again, it is YOUR mad money so you must do what you think is right. - Jim Cramer, May 2019. Im neither here nor there on Bitcoin...This sort of gets the crypto people angry, but there are transactions that are not within the balance of the law...You need an illegal to legal bridge. Thats where crypto comes in. - Elon Musk, January 2020. Story continues Benzingas Take Bitcoin has performed extremely well as a long-term investment over the past three-plus years. However, the ultimate success or failure of the cryptocurrency will likely hinge on whether or not it ever crosses over from a niche speculative investment to a stable store of value and a mainstream option for legal transactions. Do you agree with this take? Email feedback@benzinga.com with your thoughts. Related Links: What You Need To Know About Bitcoin's Halving Bitcoin Is Still Failing As A Flight To Safety Investment See more from Benzinga What You Need To Know About Bitcoin's Halving © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || First Mover: As Bitcoiners Watch Dollar, Deutsche Bank Sees Trump Win Hurting Reserve Status: Bitcoiners, already rocked by this year’s coronavirus-inflicted turbulence, face a fresh source of volatility as the market heads into the second half of 2020: theU.S. presidential election.
According to Deutsche Bank, Germany’s biggest lender, a reelection victory by President Donald Trump could threaten the U.S. dollar’scentury-long reign as the world’s de facto reserve currency.
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Related:Social Media Bans 'Highlight the Profound Censorship on Web 2.0'
In a July 1 report, Deutsche Bank foreign-exchange analysts wrote that Trump, a Republican, has shaken up “policy orthodoxies and institutions” during this term. In contrast, former Vice President Joe Biden, the presumptive Democratic nominee, would likely pursue “policies that are more predictable and mainstream, with traditional U.S. alliances valued.”
A Biden win could “help support the post-World War II financial architecture” including multilateral organizations such as the Group of Seven, International Monetary Fund, World Bank, World Trade Organization and North Atlantic Treaty Organization, according to Deutsche Bank.
That system propelled the U.S. dollar to a dominant role in global foreign-exchange markets. The dollar is the primary currency for international payments, a staple of central-bank reserves and the price denomination for commodities from gold to oil as well as cryptocurrencies likebitcoin.
“It is plausible that President Trump can do a great deal more damage to the U.S. reserve status in a second term, and as long as Biden is prudent with his choice of Treasury Secretary and provides multilateral global leadership, the USD’s reserve status is in a safer pair of hands,” the analysts wrote.
Related:China Stocks Surge and NYC Real Estate Craters: 5 Stories Shaping Markets Today
The dollar’s reserve status is a crucial factor in the bitcoin market because the cryptocurrency is seen by many investors as “portfolio insurance on broad-based currency debasement,” as Delphi Digital analyst Kevin Kelly phrased it in a report last week. And dollar-linked tokens known as stablecoins have become an increasingly common means of moving money around in fast-growing digital-asset markets.
The dollar has seen little erosion of its dominance so far in 2020, even as the Federal Reserve has injected about $3 trillion of freshly created money into global financial markets. That figure represents a 67% increase since Jan. 1 in the total amount of money previously created by the U.S. central bank. The U.S. Dollar Index, which tracks its value against a basket of major currencies including the euro, yen and British pound, is up 0.7% on the year.
While a Trump win might be negative for the dollar in the long term, it’s probably positive in the short term, according to Deutsche Bank. That’s partly because Biden would be more likely to reverse the tax cuts that Trump pushed for during his term, and “fiscal flexibility in the short term is more constructive for the USD, in so much as fiscal capacity relieves some of the burden from monetary policy,” the analysts wrote.
Trump, who has made the economy a centerpiece of his presidency, has consistently pushed for stimulus over the past four years. He campaigned in 2016 on a promise of tax cuts and delivered in late 2017 with a$1.5 trillion fiscal package, pledging that the deal would produce annual increases in gross domestic product of 3%. As thepromised growth failed to appearfor two straight years, he pressed the Federal Reserve for interest rate cuts;the U.S. central bank obliged.
This year, as the coronavirus ushered in a recession, Trump signed a$2 trillion relief billinto law, and his administration has applauded the economic benefits of the Fed’s trillions of dollars of emergency loans and monetary stimulus.
“I’m getting more and more happy with him,” Trump said of Fed Chair Jerome Powell during aninterview last week with Fox Business Network. “He’s had to liquefy a little bit. Let us liquefy. Let the economy, I mean – put out that money that you need.”
Patrick Tan, CEO of Novum Alpha, which offers digital-asset investment products, wrote last week in a Medium post there is currently “limited risk of the dollar losing its gravitational pull, but in the long run this becomes less clear.”
Trump has often stated his general preference for a weaker dollar, which tends to improve the competitiveness of U.S. exports, though often at the expense of higher domestic consumer prices.
If the Deutsche Bank analysts are right, a Trump victory in November could mean the world eventually gets the weaker dollar he says he wants.
BTC: Price: $9,200 (BPI) | 24-Hr High: $9,239 | 24-Hr Low: $8,919
Trend: Bitcoin is trading in the green near $9,200 on Monday. However, the immediate bias remains neutral with prices trapped in a narrow range of $8,800 to $9,300 for the tenth day running.
The consolidation could end with a price breakout as bullish signs have emerged on technical charts. To start with, multiple daily candles with long lower wicks created over the last 10 days indicate bearish pressures are waning.
A similar sentiment is being echoed by the higher lows on the daily chart MACD histogram, an indicator used to identify trend strength and trend changes. Meanwhile, the 14-day relative strength index (RSI) is looking to breach a two-month descending trendline in favor of the bulls.
What’s more, the overall bullish structure of higher lows and higher highs created in the two months to mid-May is still valid.
A range breakout, if confirmed, would open the doors for a rally to $10,000. Acceptance above that level would signal a resumption of the broader uptrend from lows under $4,000 observed in March.
Alternatively, a break below $8,800 would expose the higher low support at $8,630 created on May 27. A close (midnight, UTC) below that level would invalidate the overall bullish trend and shift risk in favor of deeper losses.
• First Mover: As Bitcoiners Watch Dollar, Deutsche Bank Sees Trump Win Hurting Reserve Status
• First Mover: As Bitcoiners Watch Dollar, Deutsche Bank Sees Trump Win Hurting Reserve Status || Coinbase Takes Over Servicing for 21Shares’ Bitcoin ETP, Displaces Kingdom Trust: 21Shares has replaced Kingdom Trust with Coinbase Custody as the main custodian for the assets underlying itsbitcoinexchange-traded product (ETP.)
• AnnouncedWednesday, Coinbase Custody will secure assets used in 21Shares’ Bitcoin ETP in an offline storage solution.
• South Dakota-regulated Kingdom Trust had custodied the Bitcoin ETP since its launch in February 2019.
• 21Shares’ managing director Laurent Kssis told CoinDesk the firm plans to use Coinbase Custody for more ETPs, including some new ones, in the future.
• Coinbase Custody has been used, alongside Kingdom Trust, as the custody solution for theBitwise Indexsince June 2019.
• CoinDesk has learned Coinbase, which is headquartered in San Francisco, may soon store other ETP assets that are currently in the vaults of Kingdom Trust.
• “There are other ETP providers in the pipeline, but they are not public yet so I won’t be able to share at this time,” said Jacelyn Sales, an external spokesperson for Coinbase Custody, to CoinDesk.
• The Bitcoin ETP is traded on SIX Swiss Exchange and Boerse Stuttgart and, starting Thursday,Deutsche Boerse– Europe’s third-largest stock exchange.
• Coinbase Takes Over Servicing for 21Shares’ Bitcoin ETP, Displaces Kingdom Trust
• Coinbase Takes Over Servicing for 21Shares’ Bitcoin ETP, Displaces Kingdom Trust
• Coinbase Takes Over Servicing for 21Shares’ Bitcoin ETP, Displaces Kingdom Trust
• Coinbase Takes Over Servicing for 21Shares’ Bitcoin ETP, Displaces Kingdom Trust || Chinas Supreme Court Calls for Better Protection of Digital Currency Rights: The Supreme Peoples Court of China has said the countrys legal system should strengthen protections around digital currency ownership rights. Published Wednesday, a new guideline from the supreme court, under the section Strengthening judicial protection for property and equity rights, specifies that the legal system should enhance protections over new types of ownership rights such as digital currencies, online virtual assets and data. While the court did not elaborate on details or provide a definition of digital currencies, the guideline comes at a time when there are rising numbers of legal disputes in China over the ownership of digital assets, including major cryptocurrencies like bitcoin (BTC) and ether (ETH) . Previously there have been legal decisions made by provincial and municipal courts in China in which digital currencies like bitcoin were treated as virtual properties. Until now, the countrys top judicial body has apparently not addressed the issue, however. The guideline was published by the Supreme Peoples Court, together with the National Development and Reform Commission (NDRC). The NDRC is Chinas top economic planning agency and is one of the 26 cabinet-level ministries that make up the central government, namely, the State Council. The opinion was issued in response to earlier guidelines put out by the State Council in May calling for an acceleration of improvements to Chinas socialist market economy. The supreme courts guidance represents the legal systems highest-level opinion regarding judicial services and protections. Also read: Chinas Blockchain Infrastructure to Extend Global Reach With Six Public Chains Related Stories Chinas Supreme Court Calls for Better Protection of Digital Currency Rights Chinas Supreme Court Calls for Better Protection of Digital Currency Rights Chinas Supreme Court Calls for Better Protection of Digital Currency Rights Chinas Supreme Court Calls for Better Protection of Digital Currency Rights || Bitcoin Options Market Faces Record $1 Billion Expiry on Friday: Bitcoin’s(BTC) derivatives continue to grow despite light spot trading over the past two months. The cryptocurrency’s options market is on its way to a record $1 billion monthly expiry this Friday.
At press time, there are 114,700 option contracts (notional value of over $1 billion) set to expire on June 26 across major exchanges – Deribit, CME, Bakkt, OKEx, LedgerX – according to data provided by the crypto derivatives research firmSkew.
Options are derivative contracts that give buyers the right but not obligation to buy or sell the underlying asset at a predetermined price on or before a specific date. A call option gives the right to buy and the put option represents the right to sell. With options, traders can make bullish or bearish bets on contracts at various price levels called strikes that expire in different months.
Related:First Mover: What’s Going On With Bitcoin Derivatives?
“This is definitely the largest BTC option expiry by a country mile,” said Vishal Shah, an options trader and founder of Polychain Capital-backed derivatives exchange Alpha5.
Meanwhile, Skew CEO Emmanuel Goh said that “with big quarterly expiry, you tend to see some pinning and then the market moving post-expiry.”
Option expiries can influence market direction via a process known as “pinning” in which option traders try to move the spot price to avoid sharp losses.
See also:Miners Are Sending Bitcoins to Exchanges Again – And That May Be Bearish
Related:Bitcoin Still on Track for Quarterly Gains After Drop Toward $9K
Holders who benefit from higher prices in the underlying asset – put sellers and call buyers – often take long positions in the spot market to raise prices before the expiration date. On the other hand, put buyers and call sellers, who benefit from a drop in the underlying asset, take short positions in the spot market to keep prices under pressure ahead of expiry.
The tug of war often leads to prices being pinned at or near the strike price where a large number of open positions are concentrated. “Depending on where the open interest [open positions] is scattered, you could be in the game to pin strikes,” Shah told CoinDesk, and added further that, “the bulk of distribution of OI [open interest] in general is skewed slightly higher.”
Indeed, open interest is concentrated at $10,000 and $11,000 strike prices. Meanwhile, on the downside, notable open interest buildup is seen at $9,000 strike.
According to Pankaj Balani, CEO and founder of Singapore-based Delta Exchange, traders have sold a good amount of calls around $10,000-$11,000 strikes for the June expiry.
As a result, $10,000 may act as a stiff resistance heading into expiry. If prices begin to rise, call sellers may take short positions in the spot markets in order to keep the cryptocurrency from scaling the $10,000 mark.
At press time, bitcoin was changing hands near $9,400, representing a 2.5% decline on the day. The cryptocurrency has traded largely in the range of $9,000 to $10,000 ever since itsthird reward halving, which took place on May 11.
Bitcoin may become vulnerable to violent price moves over the coming months if traders rollover short positions in June contracts to July and September expiry.
A rollover refers to squaring off positions in contracts nearing expiry and replicating the same position in the next-nearest expiry.
As noted earlier, there has been significant call writing (selling) at $10,000 and $11,000 strike prices. Alpha5’s Vishal Shah says there is risk in transporting short positions to July or September expiry as bitcoin options are at a very low level of implied volatility historically.
This is definitely the largest BTC option expiry by a country mile.
The three-month implied volatility is hovering below its lifetime average of 96.6% on an annualized basis, according to data source Skew. A prolonged period of low volatility consolidation, similar to the one seen over the past two months, often paves the way for a big move in either direction.
Thus, if traders rollover short positions, they face risk of an impending rise in volatility that would make options costlier. That, in turn, would lead to more chaotic trading and further rise in volatility.
“If the current options structures [short position] are replicated into July and September expiries, traders would run into a potential situation of having ‘sold too low’ in terms of volatility. That can bring in all types of complications, and lead to some disorderly behavior if and when the spot picks up directionality,” said Shah.
Volatility has a positive impact on option prices. The higher the volatility (uncertainty), the stronger is the hedging demand for options. Seasoned traders often sell options when volatility is well above its lifetime average and buy options when volatility is too low.
Some analysts say bitcoin’s options market is too small to have any meaningful impact on the cryptocurrencies price.
“Options expiry is unlikely to have an influence on price action in comparison to the impact of futures expiry, said Richard Rosenblum, co-founder, and co-head of trading at crypto liquidity provider GSR. “But we expect options volumes to continue growing, options could end up having a bigger impact in the long term.”
Indeed, global option volumes are only 1% of total futures and swap volumes, analysts at cryptocurrency exchange Luno noted in its weekly report. Meanwhile, there is a sizable open interest of 4,605 contracts ($214 million at current price) in CME futures expiring in June, which is yet to be rolled over the July contracts,as noted byEcoinometrics, a bitcoin analysis company.
See also:First Mover: Bitcoin’s Recent Stability May Come From a Fleeting Correlation With Equities
“If these are residual longs from the reverse cash-and-carry arbitrage that was available in March and are covered with spot buying into the expiry, we will have opposing forces at play, which will further add to price volatility,” Balani told CoinDesk.
Reverse cash-and-carry arbitrage is a market-neutral strategy, wherein a trader takes a sell position in the spot market and a long position in the futures market. This strategy is implemented when futures trade at a notable discount to spot price. For instance, following the March crash, futures were trading at nearly a 4% discount to the spot price.
Back then, traders may have bought futures and sold BTC in the spot market, thereby locking a 4% riskless return. This is because futures converge with the spot price on the day of expiry.
Traders would either square off long futures positions on or before Friday or let them lapse and buy bitcoin in the spot market. That could lead to a two-way business in the spot market.
• Bitcoin Options Market Faces Record $1 Billion Expiry on Friday
• Bitcoin Options Market Faces Record $1 Billion Expiry on Friday || Bitcoin Miners Saw 23% Revenue Drop in June: Bitcoin miners suffered a 23% drop in revenue during June, resulting from lower network fees and a reduced block subsidy after the halving in May. Down from $366 million in May, bitcoin miners generated an estimated $281 million in revenue in June, a three-month low according to Coin Metrics data analyzed by CoinDesk. Estimates assume miners sell bitcoins immediately. Mining is the process of adding confirmed transactions to the Bitcoin blockchain. For the resources required to mine, the network compensates miners via subsidies and transaction fees. Subsidies are paid per block at a current rate of 6.25 BTC. Fees are paid per transaction. Related: Compared to May, June subsidies and fees offer a better representation of mining revenue after the halving, said Austin Storms, founder of mining mobile infrastructure company BearBox. Even with an 11% decline in May, the months first 11 days of the month are weighted heavily from the 12.5 BTC per-block subsidy that later dropped to 6.25 BTC, Storms told CoinDesk. See also: Bitcoins Mining Difficulty Has Rarely Been This Static in a Decade During the halving, the size of Bitcoins mempool grew substantially, which caused transaction fees to also increase. The mempool serves as a sort of holding depot for verified transactions that need to be included in new blocks by miners. As the mempool emptied through the end of May and into June, monthly miner revenue estimates reflect the subsequent decline in transaction fees. Fees only generated $12 million in June, which accounts for 4.3% of monthly revenue, down from a 12-month high of 8.3% in May. Since the per-block subsidy remains constant until 2024, growth in mining revenue can only come from two sources: an increase in network fees or bitcoins price. Related Stories Bitcoin Miners Saw 23% Revenue Drop in June Bitcoin Miners Saw 23% Revenue Drop in June Bitcoin Miners Saw 23% Revenue Drop in June || Numerai Raises $3M in Another NMR Token Sale With Union Square Ventures, Placeholder: Coincheck has fallen victim to a data breach after attackers accessed one of its domain name accounts and used it to impersonate the cryptocurrency exchange.
The Japanese firm – which fell victim to possibly thelargest crypto hackin history in 2018 – said Tuesday that an unknown third party gained access to an account it held with domain registration service Onamae.com. Anincident noticesuggested the attackers then used its .jp domain account to send “fraudulent” emails to customers.
“A third party who made unauthorized access (hereinafter, a third party) fraudulently sent some emails from our customers during the period from May 31 to June 1, 2020,” reads the report. “It turned out that [the domain name] was in a state where it could be acquired.”
Around 200 customers who sent replies to emails from the attackers are said to have data exposed. Coincheck said personal identifying information such as names, addresses and ID photos may have been illegally obtained. It’s possible that hackers were phishing for “know your customer” verification details so they could access client accounts, but the motive remains unclear.
See also:BlockFi Says Hacker SIM-Swapped Employee’s Phone, No Funds Were Lost
How the third parties were allowed to gain access to Coincheck’s domain account is currently being investigated by the registration firm, Coincheck said.
Although the exchange said funds had not been lost in the attack, it’s suspended crypto remittances until Onamae’s investigation is complete. All other services, including fiat deposits and withdrawals, as well as cryptocurrency trading, remain operational at this time.
Related:Coincheck Customers Fall Victim to Data Breach After Domain Account Error
For customers seeking support, the firm is requesting that emails are sent to an address at coincheck.jp, not coincheck.com for the time being.
CoinDesk approached Coincheck for more precise details on the breach, but hadn’t received a response by press time.
• Number of Bitcoins on Crypto Exchanges Hits 18-Month Low
• Caught Up in Steem Squabble, Bittrex to Return Tokens Diverted in Hard Fork || Market Wrap: Crypto Market Eerily Quiet as Bitcoin Stuck Near $9K: Quiet is the best word to describe thebitcoinmarket. Tuesday’s trading stayed within the same price range maintained over the past several weeks, with bitcoin remaining inside a tight $200 range for much of the day.
• Bitcoin stays in a tight range above $9,000
• Ether up less than 1%
• Bitcoin volatility continues to drop
• Market in “wait and see” phase
The leading cryptocurrency only briefly dipped below $9,050 Tuesday afternoon and did not break above $9,250, according to Bitstamp. Bitcoin was trading hands around $9,140 as of 20:00 UTC (4 p.m. ET).
Ether, the second-largest cryptocurrency by market capitalization, dropped 1.2% from its Tuesday open, trading around $225 as of 20:00 UTC (4 p.m. ET), according to Bitstamp.
Related:UCSF Hospital Paid $1.14M in Bitcoin After Ransomware Attack
Some traders are growing tired of this range as expectations for a breakout in either direction are crushed. “Every breakout in the last six weeks has revealed to be a false one, taking many traders to the woodshed in just a few hours,” said David Lifchitz, partner at quantitative trading firm ExoAlpha.
See also:Bitcoin Still Up 27% This Year Despite Dismal June Performance
Even liquidated contracts on BitMEX, the largest bitcoin derivatives exchange by open interest, show how stagnant bitcoin’s price action has become. Total daily liquidations on the exchange have not passed even $4 million for three consecutive days, according toSkew.
Traders are getting “mixed messages” from the bitcoin markets, Denis Vinokourov, head of research at prime broker Bequant, told CoinDesk. “On the one hand, the futures curve is in contango (upward sloping), which is indicative of leverage interest. But, yet at the same time, the options market continues to point to downside price protection demand, with front-end (shorter-dated one-month [expirations]) skew much higher relative to the rest of the curve and also when compared to Ethereum,” said Vinokourov.
Related:Coin Metrics Offers More Rigorous Measure of Crypto Market Supply
As its price stands still, bitcoin’s volatility plummets. Its 30-day volatility, for example, is reaching its lowest level since late February, according toCoin Metrics.
When bitcoin will finally pick a direction – up or down – for a new trend is anyone’s guess. “We’re still in a ‘wait-and-see’ phase,” Lifchitz told CoinDesk. The market, he added is “definitely in need of a catalyst to break above $10,000 on heavy volume or below $8,000.”
If the price drops, however, some traders expect bulls to capitalize on the opportunity and buy more. “Dip buyers,” a name for investors who increase their position sizes when an asset price declines, will “aggressively” buy any substantial drops in the bitcoin price, said Alistair Milne, chief investment officer at Altana Digital Currency Fund.
See also:Crypto Long & Short: What Trends in Volatility Could Mean for Bitcoin
Taking toTwitter, Milne said traders are “still underestimating” the amount of bitcoin that has been accumulated and removed from the market by long-term, often ideological investors. The exact amount of bitcoins held off the market is roughly 73%, according toGlassnode. Also taking to Twitter, CTO Rafael Schultze-Kraftnotedthat approximately 13.5 million bitcoins have not moved since the start of 2020, signally bitcoin investors’ commitment to hold through an uncertain market.
Tuesday cryptocurrency gains included a variety of decentralized finance assets, according toMessari. Nexo (NEXO) gained 4.2%. Also up was kyber network (KNC) by 2.8%. All price changes were as of 20:00 UTC (4:00 p.m. ET).
In commodities, Tuesday was a good day for gold bulls as the yellow metal gained 1.25% from its daily low at $1,764. Silver gained more than 2% from its daily open Tuesday.
Meanwhile, gains from the S&P 500 pushed most other major stock indices down on Tuesday.
See also:A Key Thesis for Bitcoin’s Long-Term Bull Market Just Got a Knock
The S&P 500 gained 1.5% Tuesday, trading at 3038 as of 20:00 UTC (4 p.m. ET).
The FTSE 100 index in Europe dropped roughly 1.5% from its daily open. Nikkei 225 also dipped Tuesday, down 0.25% from its daily open.
• Market Wrap: Crypto Market Eerily Quiet as Bitcoin Stuck Near $9K
• Market Wrap: Crypto Market Eerily Quiet as Bitcoin Stuck Near $9K || Fake Elon Musk scammers deploy new trick to steal millions of dollars in bitcoin: While Bitcoin giveaway scams are not new, hackers are using a new trick that has already helped them scam victims out of roughly $2 million: so-called vanity addresses designed to trick victims into thinking they belong to entrepreneur Elon Musk. Scammers have long used impersonation attacks to steal money from unwitting users, pretending to be Musk has been a popular approach. In late 2018, Twitter drew attention after it promoted a fake crypto scam broadcast by an Elon Musk impersonator using a verified account. Vanity crypto addresses include words, names, or phrases meant to trick users into thinking they are credible. According to cyber-security firm Adaptiv, hackers have recently found success using Bitcoin vanity addresses that include Musk’s name. Adaptiv tracked the usage of Bitcoin addresses using Musk’s name in giveaway scams and collected 66 unique ones. They found that these addresses had received over 201 bitcoin since April 2020. A separate investigation by ZDNet found that most of the Bitcoin vanity addresses have been shared through YouTube live streams, which hackers take over and use to broadcast their scams. These scams were often held to commemorate an occasion important to the celebrity or brand. First, hackers take over YouTube accounts with a high number of followers and change the account name and visual layout to resemble one of a celebrity or brand — like Elon Musk. Then they typically launch a live stream broadcasting their scam, promising users that their profits will double if they send Bitcoin to the scam address. © 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.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 10912.82, 11100.47, 11111.21, 11323.47, 11759.59, 11053.61, 11246.35, 11205.89, 11747.02, 11779.77
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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 2019-12-26]
BTC Price: 7238.97, BTC RSI: 46.19
Gold Price: 1509.30, Gold RSI: 68.55
Oil Price: 61.68, Oil RSI: 66.35
[Random Sample of News (last 60 days)]
Why Russia is still choosing gold over Bitcoin: The debate over gold vs Bitcoin remains a hot topic around the globe. But with Russia making massive investments in gold, some analysts are quick to point to Bitcoin’s flaws as a national reserve. Let’s take a look at what the experts have to say about gold vs Bitcoin and whether Russia’s appetite for the precious metal affects the cryptocurrency ecosystem. Russian gold is worth $109 billion It’s no secret that Russian President Vladimir Putin is hoping to break his country’s reliance on the USD. While cryptocurrency enthusiasts pondered whether a Russian national cryptocurrency could be part of the president’s plan for solving the issue, it seems as if Russia has turned to more traditional methods. The country’s national bank has been the largest buyer in the gold market over the past few years, and the strategy has paid off. Russian gold gained an extra 42% in value in 2019 alone. Currently, the country’s gold reserves are estimated at $109.5 billion . Gold helped Russia compensate for the losses made from some currency exchange operations that didn’t go as planned. The country sold USD for euro, yen, and yuan. This was not a brilliant move with the Chinese fiat currency struggling in the market. By reinforcing its reserves of gold, Russia managed to gain back value immediately and has positive perspectives for the coming years. Russia isn’t the only country to place a bet on the precious metal. Despite the endorsement for blockchain technology , China has been stockpiling gold lately as well. The two countries collectively bought 251 tonnes of gold in 2019. It seems as if both countries are following the same strategy for countering the USD as the trade war between the USA and China teeters on becoming a currency war as well. No cryptocurrency, Bitcoin included, is mature enough to fulfil such a role at the moment. Gold vs Bitcoin: What the experts say As gold regains its position as the go-to investment for central banks, more investors and experts are becoming vocal in the debate of gold vs Bitcoin. Story continues Traditional gold-bug analysts never miss an opportunity to point out that gold remains the “ultimate recession hedge”. This is just the sort of statement that immediately sparks a wave of speculation on the role of Bitcoin and cryptocurrencies. Among the analysts that have gone viral on this round of statements against Bitcoin is Chris Mancini, a research analyst for the Gabelli Gold Fund, and long-time gold bug Peter Schiff. In an interview for Kitco News, Mancini explained that more countries had turned to gold to protect themselves from an emerging global recession. The analyst even went further to say that the US could decide to tie the dollar to gold for stability reasons in the event of a new financial crisis. When it came to gold vs Bitcoin, Mancini underlined that no country would invest in Bitcoin as an alternative to gold. In other words, only the precious metal could protect national fiat currencies against inflation. While Mancini praised gold and kept a neutral tone on Bitcoin, Peter Schiff went viral by going against the digital coin. According to Schiff, Bitcoin has “failed the safe haven test” many times. The SchiffGold chairman pointed out that Bitcoin went down while stocks and gold prices were going up this summer. Bitcoin has again failed the safe haven test. On Friday, as escalating trade tensions sent global stock markets plunging, investors sought refuge in monetary safe havens. The Japanese yen, Swiss franc, and especially gold all moved higher. Yet Bitcoin plunged by more than stocks! — Peter Schiff (@PeterSchiff) August 28, 2019 Peter Schiff has a long history of speaking against Bitcoin as he continues to stress the reliability of gold compared to digital assets. Russia’s pro-gold strategy gave him one more opportunity to turn the spotlight on himself once again. Limitless possibilities with Bitcoin? Meanwhile, cryptocurrency enthusiasts and investors don’t see Bitcoin being weaker just because central banks are buying gold. Gemini co-founder Cameron Winklevoss entered the gold vs Bitcoin debate to remind us that the future belongs to digital assets. Gold may be less volatile than BTC, but Bitcoin has “boundless possibilities” on its side. Because Bitcoin is open source software, its possibilities are boundless. I often talk about gold as a target market cap, but that's really just the beginning…it's digital gold, source of truth, etc… — Cameron Winklevoss (@winklevoss) October 23, 2019 Paxos CEO Chad Cascarilla also spoke in favour of Bitcoin and its bright future. Many countries countering inflation at the moment are witnessing an increased demand for Bitcoin. For many citizens in these countries, digital coins are now an effective way to protect their savings from a weakening national currency. Moreover, as companies and governments find new use cases for blockchain technology, we may see crypto adoption grow as well. In today's #Gold vs #Bitcoin Interview, Chad Cascarilla, of @paxosglobal , discusses if blockchain technology will change the future of the global financial system with @MarkYusko . Join the fight for the last few rounds now: https://t.co/Vwvj88uHoL pic.twitter.com/tyTbMGbRk2 — Real Vision (@realvision) October 24, 2019 Final thoughts Russia went back to gold to protect its national reserves against what seems like an imminent currency war against the US. It is, after all, still the traditional and most secure way of ensuring stability and long-term gains in the market. Bitcoin is too volatile to carry out such a task, at least for now. Price drops and gains in the cryptocurrency markets could drastically reduce or amplify a national reserve, so no country is likely to realistically invest in Bitcoin at the moment – apart from maybe Venezuela, whose gold reserves are depleting rapidly. The post Why Russia is still choosing gold over Bitcoin appeared first on Coin Rivet . || Bitcoin Is Closing on Historically Strong Price Support: View Bitcoin may soon see solid support from the 21-month exponential moving average (currently at $7,097). Repeated defense of the EMA could attract technical buying. The average had acted as strong support in the five months to October 2018. A UTC close above $7,870 is needed to confirm a short-term bullish reversal. A violation at the EMA support could yield a re-test of recent lows near $6,500. Bitcoin is still feeling bearish pressure and could soon drop to historically strong price support below $7,100. The cryptocurrency fell 1.7 percent on Tuesday, reinforcing the bearish view put forward by the strong rejection above $7,600 witnessed over the weekend. The longer term picture is also looking bleak. Bitcoin is currently down 48 percent from the June high of $13,880 and is reporting nearly a 13 percent drop on a quarter-to-date basis, according to Bitstamp data. Related: Is Greece Cracking Down on Tax Evasion or Taxing Anonymity? With the sellers in control, bitcoin looks set to re-test the 21-month exponential moving average (EMA), currently at $7,097. The EMA had acted as strong support in the five months to October 2018, as seen below. Monthly chart (2017-2018) Bitcoins sell-off from the record high of $20,000 reached in December 2017 ran out of steam at the 21-month EMA support in June 2018. In the following four months, sellers repeatedly failed to secure a monthly close below the average line. By mid-October, many were convinced that the cryptocurrency had bottomed out along the key level. Buyers, however, remained elusive and the average support, then located around $6,100, was convincingly breached in mid-November with high volumes. The violation of the support likely triggered stops on long positions, leading to a violent sell-off. Related: Bitcoin Looks South After Strong Rejection Above $7,600 Clearly, the 21-month EMA, currently at $7,097, is the level to watch out for in the near-term more so, as the bears have recently struggled to breach the support. Story continues Monthly chart (2019) The long-tail attached to Octobers candle indicates sellers faded near the 21-month EMA line. Prices did print lows below the crucial support last month, but the support remained intact on a monthly closing basis (Nov. 30, UTC). Decembers candle has already briefly defended the support. A week ago, the technical line held ground resulting in a price bounce that fizzled out at highs above $7,660 on Dec. 9. Ifthe EMA continues to restrict losses, chart-driven buying could be seen,leading to a notable price bounce. That said, the short-term outlook will turn bullish only above $7,870. At press time, bitcoin is changing hands at $7,200 on Bitstamp. Daily and weekly chart A UTC close above the Nov. 29 high of $7,870 would invalidate the lower-highs setup on the daily chart (above left) and confirm a short-term bullish reversal. However, the odds are currently stacked in favor of a move lower, as suggested by Mondays outside day candle and Tuesdays bearish follow-through. A break below the 21-month EMA support at $7, 097 will likely yield a decline to recent lows near $6,500. Thelong-term outlook would turn bullish if and when the cryptocurrency witnesses afalling channel breakout on the weekly chart. Related Stories Bitcoin Halving Could Leave Price at $20K-$50K, Hedge Fund Manager Says Nayuta Claims Its Android Lightning Wallet Is the First to Build in a Bitcoin Full Node || WisdomTree Launches Physically Backed Bitcoin ETP on SIX Swiss Exchange: A new bitcoin exchange traded product (ETP) has just listed on Switzerland’s SIX stock exchange, and it’s physically backed by the underlying crypto.
Launched by New York-based WisdomTree – one of largest ETF providers in the U.S. – on Tuesday, the new product will compete with a similar physically backedbitcoin ETPfrom Amun AG on SIX.
At press time, theWisdomTree ETP(ticker symbol BTCW) is live on SIX’s platform, but showing no volume as of yet. A physically backed product is settled in the underlying asset, not a cash equivalent.
Related:Institutions Are Showing Interest in ETP Tied to Binance Coin, Amun Says
WisdomTree said its Bitcoin ETP gives investors “a simple, secure and cost-efficient way to gain exposure to Bitcoin while utilising the best of traditional financial infrastructure and product structuring.”
With the product there is no need to hold the cryptocurrency directly, with the firm saying it employs “institutional grade storage solutions” for the bitcoin underlying the product. As with gold ETPs, investors in the bitcoin product will have an entitlement to the cryptocurrency underlying it.
“We have been monitoring cryptocurrencies for some time and … have seen enough to believe that digital assets, like Bitcoin, are not a passing trend and can play a role in portfolios,” said Alexis Marinof, head of Europe at WisdomTree.
The firm sees “many parallels” between cryptocurrency and commodities, according to Marinof, whose firm has been providing gold-based ETPs in Europe since 2003.
Related:Swiss SIX Exchange Lists Tezos ETP With Staking Rewards
While the product is currently available for professional investors only, WisdomTree said it hopes that a cryptocurrency ETP may soon receive regulatory approval for wider access by retail investors too.
“[W]e see blockchain technology and digital currencies as being transformative for the asset management industry,” said WisdomTree CEO Jonathan Steinberg. “Much like how the ETP structure has outshone the mutual fund structure in significant ways, blockchain and cryptocurrencies have the potential to change how investors participate in financial markets, globally.”
• Swiss Central Bank to Explore Use of Digital Franc in Settling Trades
• Swiss SIX Exchange Launches Crypto ETP Denominated in Swiss Francs || Monarch Wallet Becomes First Live Decentralized Mobile Recurring Payments App: High fees and chargebacks are a thing of the past! Monarch Wallet now allows businesses, creators and others to easily accept cryptocurrencies on custom or recurring bases while reducing fees to as low as 0.5% per transaction and eliminates chargebacks
RENO, NV / ACCESSWIRE / November 7, 2019 /Monarch (https://monarchwallet.com/), the decentralized wallet and suite of crypto services, today announced the launch of their mobile decentralized recurring crypto payments being live inside of the Monarch Wallet onAndroidand will soon be live oniOS. This new wallet integration allows businesses, creators, charities and other entities to accept custom or recurring crypto payments, crowdfund to easily collect donations and other types of payments, with fees well below the standard rate for current payment platforms.
At launch, the new MonarchPay integration offers the easiest way to accept custom or recurring cryptocurrency payments, solicit creative and cause-based crowdfunding, all without the "premium" fees that can reach upwards of 12-50% on services like Patreon and Twitch. Monarch has set a new standard in the payments industry, with a 1% fee across all possible crypto payment options and soon just a 0.5% fee when using their Monarch Utility Token. Patreon currently charges between 5 and 12 percent of income earned per month on its platform, while Twitch fees go up to 50 percent.
Monarch offers benefits to any entities that wish to use crypto for recurring payments, whether those entities are businesses, creators, charities or others, without the need for much technical expertise. Among the prime benefits for Monarch users, other than those low processing fees is the "no chargebacks" freedom inherent to crypto technology and increased transparency. All of this can also be easily managed from just one place, the Monarch Wallet-whether it's a business managing all of their plans and users subscribed to each plan, to the individual who manages their subscriptions.
"With our new app integration, we are applying the power of the blockchain to stem one of the payments industry's most onerous problems: processing fees," said Robert Beadles, President of Monarch. "Beyond that very real and tangible double-digit percentage revenue users won't have to pay back to a payment processor, Monarch offers greater transparency than currently available in the payments industry."
Since first launching in 2018, Monarch has become a one-stop-shop for more than 315,000 users, bringing together the best blockchain services into one application for consumers, merchants, and partners. Monarch eliminates the need for multiple applications and improves security with a single wallet, delivering every service needed to buy, sell, trade, and manage digital assets.
Monarch is advised by Roger Ver, Bitcoin Foundation Founder and Bitcoin.com CEO; Eric Ly, Co-Founder of LinkedIn; David Zimbeck, lead developer at BitBay and creator of the first smart contracts; Damon Nam, Founder of CoinVest, and many of the most influential names in the blockchain industry. Monarch has acquired a broker-dealer license and is awaiting SEC and FINRA approval.
ABOUT MONARCH
Monarch offers mobile and desktop apps, a decentralized wallet and exchange, a portfolio tracker, and universal KYC integration. Monarch supports more than 3,000 cryptocurrencies. It allows qualified users to buy cryptocurrency with a bank or credit card, earn up to 8.1% APR interest on select cryptocurrency holdings, and switch between hot and cold wallets, all while maintaining their own private keys and seed.
Contact Info:
Name: William LinceEmail:Send EmailOrganization: Monarch Blockchain CorporationAddress: 401 Ryland St. STE 200-A, Reno, Nevada 89502, United StatesPhone: +1-209-625-9816Website:https://monarchwallet.com/
SOURCE:Monarch Blockchain Corporation
View source version on accesswire.com:https://www.accesswire.com/565805/Monarch-Wallet-Becomes-First-Live-Decentralized-Mobile-Recurring-Payments-App || The two main problems Satoshi Nakamoto fixed with Bitcoin: Bitcoin is digital gold because it has a predetermined supply and cannot be censored. Satoshi Nakamoto – Bitcoin’s creator – envisioned a worldwide digital currency backed by energy that could not be coerced by governments. In order to achieve his goal, Satoshi had to solve two major problems with the current economy: censorship and inflation. Will Bitcoin take over the world? The most important key metric that really drives crypto adoption is price. If you want to try and predict the future price action of Bitcoin, you should understand how price moves. The two main variables that affect BTC price action are: Number of coins minted per day Number of buyers When the late-2017 bull run took place, there were (literally) millions of people being onboarded every week and, sometimes, even on a daily basis. Bitcoin’s price went through the roof because the number of Bitcoins available is limited and because the number of people looking to buy the asset exploded. The inflation problem By devaluing savings through inflation the middle class is paying a hidden tax. #richdad — Robert T. Kiyosaki (@theRealKiyosaki) February 12, 2017 One of the most misunderstood problems by economists worldwide is the fact inflation is treated as simply an effect of money being produced. We could look at inflation that way, like a natural cause that simply robs us of our wealth, but that is not how things work in the natural world. As far as I’m concerned, most assets are limited, so money should be as well. Since when new currency is minted it reaches the pockets of a select few first, these people can then buy stock or real estate. This causes the price of these assets to explode. Free/cheap money creates a bubble . Story continues However, inflation is not the only problem Bitcoin fixes. Now that cryptocurrencies are out of the box, my bet is that we’ll see government digital currencies being treated as cryptos – which brings us to the second issue. The censorship problem Censorship resistance is the main goal of a blockchain. If your favourite blockchain project is fast but permissioned, you’re going to have a bad time. Let me explain why openness is a key feature of Bitcoin in one line: if too few people control the network, they’ll censor your transactions. Projects like EOS or NEO, which I support as interesting experiments, face this problem a lot (as we’ve seen in the recent past). When too few people control the decision-making process, problems can occur. Out of nowhere, transactions can be censored by validators. This is the really important feature when we look at Bitcoin vs “super-fast consensus” protocols. They trade decentralisation for scalability without telling you up front. The real power of Bitcoin is its censorship resistance and hard-money properties. Don’t forget, for money to be money, it needs to go through the three stages of acceptance: First it is a collectible that very few people value Then it becomes a store of value as more and more people hoard the asset Finally it becomes both a medium of exchange and unit of account if it is accepted by the people as a strong store of value If you do not agree with this logic, think long and hard about currencies that don’t serve the first purpose. If you had to choose to spend either dollars or Bitcoin, what currency would you choose? Easy. The one with the least perceived value. Therefore, the dollar is a great medium of exchange (however, it is a terrible store of value). Bad money is always used first. Safe trades! The post The two main problems Satoshi Nakamoto fixed with Bitcoin appeared first on Coin Rivet . || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 12/11/19: Bitcoin Cash ABC fell by 2.60% on Monday. Partially reversing a 3.97% gain from Sunday, Bitcoin Cash ABC ended the day at $285.56.
A bullish start to the day saw Bitcoin Cash ABC rise to an early morning intraday high $296.53 before hitting reverse.
Falling short of the first major resistance level at $301.03, Bitcoin Cash ABC slid to a late morning intraday low $282.00.
The sell-off saw Bitcoin Cash ABC fall through the first major support level at $282.47.
Steering clear of sub-$280 levels, Bitcoin Cash ABC broke back through to $286 levels ahead of the afternoon.
Through the 2ndhalf of the day, Bitcoin Cash ABC managed to strike a high $289.70 before easing back.
At the time of writing, Bitcoin Cash ABC was down by 0.49% to $284.15. An early pullback saw Bitcoin Cash ABC fall from an end of Monday $285.56 to an early morning low $284.15.
Bitcoin Cash ABC left the major support and resistance levels untested early on.
For the day ahead, a move through to $288 would support a run at the first major resistance level at $294.06.
Bitcoin Cash ABC would need the support of the broader market, however, to break back through to $290 levels.
Barring a broad-based crypto rally, Bitcoin Cash ABC would likely fall well short of $300 levels for a 5thconsecutive day.
Failure to move through to $288 levels could see Bitcoin Cash ABC slide deeper into the red. A fall back to $282 levels would bring the first major support level at $279.53 into play.
Barring a crypto meltdown, however, Bitcoin Cash ABC should steer clear of sub-$279 support levels.
Litecoin fell by 3.02% on Monday. Reversing a 2.55% gain from Sunday, Litecoin ended the day at $61.74.
Tracking the broader market, Litecoin rallied to an early morning intraday high $64.27 before hitting reverse.
Falling short of the first major resistance level at $66.23, Litecoin fell to a late morning intraday low $60.29.
Litecoin fell through the first major support level at $61.06 before finding support.
Through the 2ndhalf of the day, Litecoin struck a late $62.60 high before falling back to sub-$62 levels.
At the time of writing, Litecoin was up by 0.39% to $61.98. A mixed start to the day saw Litecoin fall to an early morning low $61.50 before striking a high $62.04.
Litecoin left the major support and resistance levels untested early on.
For the day ahead, Litecoin would need to move through to $62.10 levels to support a run at the first major resistance level at $63.91.
Support from the broader market would be needed, however, for Litecoin to break out from $63 levels.
Barring an extended crypto rally, Litecoin would likely come up short of Monday’s high $64.27.
Failure to move through to $62.10 levels could see Litecoin hit reverse. A fall back through to sub-$61 levels would bring the first major support level at $59.93 into play.
Barring a crypto meltdown, however, Litecoin should steer well clear of sub-$59 support levels.
Ripple’s XRP fell by 1.82% on Monday. Following on from a 0.2% decline from Sunday, Ripple’s XRP ended the day at $0.27470.
A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.28152 before taking a hit.
Falling short of the first major resistance level at $0.2840, Ripple’s XRP fell to a late morning intraday low $0.27024.
Ripple’s XRP fell through the first major support level at $0.2763 and the second major support level at $0.2729.
A choppy 2ndhalf of the day saw Ripple’s XRP fall back from $0.2750 levels to sub-$0.27200 levels before finding support.
At the time of writing, Ripple’s XRP was up by 0.17% to $0.27516. A relatively bullish start to the day saw Ripple’s XRP rise from an early morning low $0.27418 to a high $0.27546.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead, Ripple’s XRP would need to move through to $0.2760 levels to support a run at the first major resistance level at $0.2807.
Support from the broader market would be needed, however, for Ripple’s XRP to break through to $0.28 levels.
Barring an extended crypto rally, the first major resistance levels would likely cap any upside.
Failure to move through to $0.2760 levels could lead to a pullback later in the day.
A fall back through to $0.2740 levels would bring the first major support level at $0.2695 into play.
Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.2642.
Please let us know what you think in the comments below
Thanks, Bob
Thisarticlewas originally posted on FX Empire
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• S&P 500 Price Forecast – Stock Markets Pulled Back Slightly To Start The Week
• Gold Price Prediction – Prices Experience Dead Cat Bounce as Momentum Remains Negative || Mining Giant Glencore to Trace Cobalt Using ‘Responsible Sourcing’ Blockchain Consortium: Cobalt producer Glencore PLC is joining the Responsible Sourcing Blockchain Network (RSBN).
In apress releaseThursday, the publicly traded company, one of the world’s largest cobalt producers, announced it would utilize RSBN’s Hyperledger Fabric platform for its cobalt production and become a full consortium member by February 2020.
The announcement follows Glencore’s earlier pledge to consider blockchain in its supply chain. InOctoberit agreed to “design and deploy blockchain solutions” in conjunction with the World Economic Forum and six other mining stakeholders.
Related:Bitmain Shifts Miner Sales Tactics, Betting Big on Bitcoin Halving Pump
RBSN appears to be the beneficiary of that drive. The cross-industry consortium of miners, carmakers, refineries and tech companies has already been building out an audited minerals-tracing platform, which runs atop the IBM blockchain.
It seeks to add transparency to the mining supply chain, an industry often marred byreportsof unethical worker treatment including widespread child labor in the Democratic Republic of Congo, a global cobalt hotspot.
To that end, RSBN’s member groups have focused on cobalt as the platform’s first test mineral. Cobalt is a crucial component in lithium ion battery design, leading companies including Ford,Volkswagen, Volvo, LG subsidiary LG Chemical and IBM to sign on.
Thepilot runtraced a 1.5 ton batch of cobalt from Congolese mines to a Ford Motor Company plant in Mexico. Now, RSBN members say they will take the system live in commercial production early next year.
Related:Nvidia Battles Shareholders in Lawsuit Over Crypto Miner Claims
Glencore, too, aims to implement the platform by “spring 2020,” according to its press release. While it will initially focus on cobalt, Glencore said it will bring tin, tantalum, tungsten and gold onto the platform sometime next year.
“RSBN plays a key role in advancing the sustainable partnership between the producers of commodities that will enable the transition to a low-carbon economy and key consumers around the world,” Nico Paraskevas, Glencore’s cobalt marketing chief, said in the press release.
• MARKETS DAILY: Casualties Ahead in the Cryptocurrency Mining Arms Race
• Canadian Government-Assisted Bitcoin Miner Files for Bankruptcy Owing Millions || Bitcoin App Bottle Pay Shuts Down Over Impending EU Money-Laundering Laws: The bitcoin payments startup Bottle Payshut downon Friday, citing theAMLD5European Union regulation coming into effect Jan. 10, 2020.
The Bottle Pay app once allowed users to send tiny amounts of bitcoin using just social media texts and handles, from Twitter to Telegram. There are roughly 974 members in the project’s Telegram group.
The London-based company raised $2 million in September,The Blockreported at the time. Back in December, the team declined to name any of the investors but said the startup already served 10,000 user accounts.
Related:Netherlands Plans to Punish Crypto Scammers With Up to 6 Years in Jail
Bottle Pay finally released a public beta with real bitcoin in lateNovember, and just now realized new European regulations would dramatically alter the company’s roadmap.
“The amount and type of extra personal information we would be required to collect from our users would alter the current user experience so radically, and so negatively, that we are not willing to force this onto our community,” the company said in astatement, adding the team never charged for this service, added routing fees or sold anything to users.
Bottle Pay won’t be the only British crypto startup impacted by the regulations, which require a strict user verification process. Similarly, the exchangeBitpandaannounced on Friday it will roll out a new user registration process. Jon Matonis, chief economist at Canada’s Cypherpunk Holdings Inc.,tweetedthis policy applies to custodial crypto wallets.
The privacy-focused wallet Samourai Wallet, which isn’t publicly registered in any specific jurisdiction,tweetedearlier this year the team believes this policy also applies to noncustodial wallets (though they said they would not comply with it).
Related:SEC Taking ‘Measured’ Approach to Digital Asset Regulation, Jay Clayton Tells Senate Committee
Teana Baker-Taylor, a London-based compliance expert and director of crypto industry group Global Digital Finance, said this policy could force all crypto wallet providers in the European Union to collect know-your-customer information from users.
In reference to cryptocurrency exchanges and custodial wallets, she said they will become “obliged entities,” similar to banks and other brokerage service providers.
“AMLD5 prohibits facilitated (non peer-to-peer) anonymous transactions,” Baker-Taylor told CoinDesk. “Custodian wallet providers and exchanges will be obligated to implement customer due diligence (including KYC) and transaction monitoring. They will also be required to maintain comprehensive records and report suspicious transactions.”
Speaking broadly in June to the need for more regulation in the global cryptocurrency industry, Steven Maijoor of the European Securities and Markets Authority (ESMA) said it’s “important to have risk warnings [and] risk information for consumers going into those products” – including anti-money-laundering procedures and arrangements.
When asked how specifically that policy should apply Maijoor said deferred to the expertise of the European Banking Authority.
In the meantime, Bottle Paytweetedthat all users should withdraw their funds within the next two weeks.
Nikhilesh De contributed reporting.
• China’s SEC May Soon Have a Crypto-Savvy Department Chief: Report
• FinCEN Sees Jump in Crypto-Related Suspicious Activity Reports || How to Spot Bitcoin’s Golden or Death Cross Using Simple Moving Averages: Understanding short-term and long-term movingaverages(MAs) is important for trading strategies, whether for cryptocurrency or traditional assets.
Two rare but powerful signals that traders look for occur when the short-term and long-term MAs cross.
On the upside, that’s the golden cross, and, on the downside, it’s called the death cross.
Related:Alibaba Denies ‘Partnership’ With Lolli, Highlighting Crypto Industry Pitfalls
Golden and death crosses have predicted many of the worst economic downturns of the previous century; for example, the death cross predicted the 1929, 1938, 1974 and 2008 bear markets.
Importantly, they underscore the potency of a primary trend, enabling traders to navigate the chaotic waters of bitcoin’s (BTC) extreme intraday and day-to-day price volatility.
The golden cross occurs when a short-term MA crosses over a long-term one to the upside, signaling to traders to expect a strong bullish upward move in an asset’s price.
Related:Bitcoin Falls Through Key Average as Traditional Markets Hit Record Highs
There are two main requirements to a golden cross with the first being an end to a sharp downtrend due to seller exhaustion, meaning the downward pressure from sellers in the market has abated. The second requirement is for the short-term MA to rise above the long-term MA, typically the 50-period and 100-period MAs.
As seen highlighted above in green, a golden cross appeared on the daily chart for BTC in March, signaling a strong upward move away from the low of $3,122, witnessed Dec. 15, 2018.
Starting on March 12, prices rose by as much as 260 percent, from $3,859 to near $14,000 by June 26.
The golden cross is best used for analyzing long time frames compared to the monthly, weekly and daily charts.
Conversely, a death cross is created by long-term buyer exhaustion, and an asset’s short-term MA crossing beneath a long-term MA, typically the 50- and 200-period averages.
On March 30, 2018, BTC showed greater bearish conditions when the 50-day MA crossed below the 200-day MA, presaging a 54 percent decline in value from $6,850 to a bottom of $3,122 by Dec. 15.
As with the golden cross, the death cross is best identified using longer time frames, as the trend would need to be confirmed by not reversing the next day.
They’re not always perfect, but identifying and utilizing the golden and death crosses with other indicators can be an invaluable rudder, helping you to navigate the muddy waters of the world’s most volatile asset class.
Golden cross imagevia Shutterstock; charts viaTradingView
• Bitcoin Hovers Near Price Support as Long-Term Bear Cross Looms
• Alibaba Offers Bitcoin Rewards Through Lolli Shopping App for ‘Singles Day’ || Intelsat's Stock Slide Continues: Intelsat SA (NYSE: I ) shares are down 38% in the past two sessions. The stock got a high-profile downgrade Wednesday on concerns about Intelsat’s proposed private spectrum auction proposal. Luxembourg-based Intelsat and SES have partnered with Canadian company Telesat to propose a private auction for the three companies’ C-Band radio spectrum, which is used for radio and TV broadcast in the U.S. With 5G wireless network launched imminent, however, some politicians are pushing back against the private auction proposal. “Don’t give away $60 billion that belongs to the people of America to two companies in Luxembourg and one other one in Canada,” Republican Sen. John Kennedy said in a recent speech . Analysts Weigh In The complications regarding the potential auction prompted JPMorgan analyst Philip Cusick to downgrade Intelsat from Overweight to Neutral and cut his price target from $34 to $22. In the note, Cusick said Intelsat’s ability to fully monetize its spectrum in a timely manner is now up in the air. “In particular we believe that as pushback for a public rather than private auction of the airwaves from Senator Kennedy (R-Louisiana) has gained momentum, and while an order could come in the next couple of months it may not be a clean win for the C-Band satellite companies,” Cusick said. But while Cusick and the market are clearly having doubts about the auction, Evercore ISI analysts are reportedly defending Intelsat and have said they expect the U.S. Federal Communications Commission will likely accept a proposal mostly in-line with the one offered by Intelsat and its three partners by January. Benzinga’s Take The uncertainty surrounding the spectrum auction is certainly a near-term headwind for Intelsat, but there’s no doubt the company will ultimately fetch a high price for its quality assets. JPMorgan lowered its projected proceeds from $10 billion to $8 billion. But the stock’s $1.8 billion market cap following this week’s sell-off suggests patient Intelsat investors may ultimately get rewarded. Story continues Intelsat's stock traded around $12.24 per share at time of publication. Do you agree with this take? Email feedback@benzinga.com with your thoughts. Related Links: 2019: A Big Year For The FCC Day In Market History: FCC Begins Licensing Color Broadcasts Latest Ratings for I Nov 2019 Downgrades Overweight Neutral Sep 2019 Maintains Overweight May 2019 Maintains Equal-Weight View More Analyst Ratings for I View the Latest Analyst Ratings 0 See more from Benzinga What Wall Street Thinks Of Google Cache Survey Reveals Shifts In Bitcoin Ownership Demographics 12 Dow Stocks With At Least 2% Dividend Yields © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
The number of blocks increases by one approx every 10 mins. The number of nodes is simply the number of computers running the bitcoin software at any given moment. It's really difficult to find the number of nodes or the number of miners, because ofthe decentralized architecture || 1 #satoshi = 0.00035 $SAR 🇸🇦
0.11065 $IQD 🇮🇶 3.88601 $IRR 🇮🇷
0.04753 $SYP 🇸🇾 0.00004 $OMR 🇴🇲
0.02328 $YER 🇾🇪 0.00034 $QAR 🇶🇦
0.00003 $KWD 🇰🇼 0.00033 $ILS 🇮🇱
0.00007 $JOD 🇯🇴 0.00034 $AED 🇦🇪
0.00004 $BHD 🇧🇭 0.14059 $LBP 🇱🇧
#Bitcoin || BTC
さらに直近高値を更新。
BTCは前回高値から 半値〜fib0.618 あたりの上値が重い領域内に入りました。
ただ半値を戻した時点でレジスタンスラインは狙いに行くでしょう。
noteの分析で記載した 日にち、価格あたりを目指しにいくものと思われます。
無料で読めるのでご覧ください。 || Deribit BTC 未決済建玉
PERPETUAL : $80.38M (+5.5% ↑)
27DEC19 : $51.41M (+0.32% ↑)
27MAR20 : $29.74M (+6.68% ↑)
OPTIONS : 45,735 BTC (+3.93% ↑) https://t.co/etkX39Tb05 || It really looks like $btc is in a massive accumulation process and that all these bearish indicators are here to shake you out! #bitcoin #crypto #trading || Bitcoin Magazine’s Week in Review https://t.co/fomvtoKFmE || Free 300 GH Cloud Mining at Gominer Instant Witdraw https://t.co/39kefZaLhn #gominer #hashflare #genesismining #bitcoin ว || The Charles A Putzeys Daily is out! https://t.co/X4Jn1c9bLV #bitcoin #ecommerce || Binance CEO Changpeng Zhao: Bitcoin (BTC) “binnenkort” naar $16.000: Changpeng Zhao (CZ), CEO van cryptocurrency-exchange Binance, zegt dat de koers van bitcoin (BTC) “binnenkort” naar $16.000 zal stijgen. https://t.co/ZUoVRJkNR2 || Btc-champion on SoundCloud a hit
|
Trend: up || Prices: 7290.09, 7317.99, 7422.65, 7293.00, 7193.60, 7200.17, 6985.47, 7344.88, 7410.66, 7411.32
|
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 2018-09-26]
BTC Price: 6495.00, BTC RSI: 46.51
Gold Price: 1194.00, Gold RSI: 44.72
Oil Price: 71.57, Oil RSI: 60.21
[Random Sample of News (last 60 days)]
Bitcoin Bears in Control as Investors Look Towards the EU Crypto Review: Bitcoin fell by 2.93% on Thursday, following on from Wednesdays 8.81% slide, to end the day at $6,507.6. Wednesdays sell-off continued into Thursday, with Bitcoin following the broader market deep into the red at the start of the day, Bitcoin falling through the days first major support level at $6,472.47 to an intraday low $6,302.2 before rallying back to an intraday high $6,731.3 that fell well short of the first major resistance level at $7,176.47. A pullback through the morning saw Bitcoin slide back through the days first major support level to a late morning $6,303 before recovering through the afternoon to $6,500 levels by the days end. For the Bitcoin bulls, the positive would have been to break back through the days first major support level by the days end, though there were plenty of negatives, of particular concern being Bitcoins inability to keep up with the broader market, with most of the majors making solid gains on the day. Support late in the day came off the back of news hitting the wires of a potential Bitcoin ETF application that may find a more accepting SEC though theres more than just Bitcoin ETFs for investors to consider at the moment, regulators and government officials continuing to take a close look at the market. The middle of the week reversal that left Bitcoin trailing the broader market on Thursday did little to dent Bitcoins dominance, which hit 55% levels before easing back to 54.1% at the time of writing, the uptick supporting the bearish sentiment seen across the broader market. Get Into Cryptocurrency Trading Today At the time of writing, Bitcoin was down 0.29% to $6,496.9 in whats been a relatively range bound start to the day, Bitcoin recovering from a start of a day morning low $6,468.8 to an early morning high $6,544 before easing back to sub-$6,500 levels, the moves through the early morning leaving the days major support and resistance levels untested. For the day ahead, a move back through $6,500 to the morning high $6,544 would support a run at $6,600 levels to bring the days first major resistance level at $6,725.2, though we would expect Bitcoin to fall short of $6,700 levels on the day, with resistance likely to pin Bitcoin back from a move through to $6,600 levels, barring particularly crypto friendly news hitting the wires. Failure to move back through to $6,500 levels through the morning could see Bitcoin take a bigger hit in the day, with a pullback through the morning low $6,468.8 bringing $6,300 levels and the days first major support level at $6,296.1 into play, heavier losses unlikely barring materially negative news hitting the wires. Story continues For the Bitcoin bulls, the threat of a return to sub-$6,000 levels is significant, particularly when considering the planned review of ICOs and the Cryptomarket at next weeks EU finance ministers meeting, which could deliver a blow to the broader market ahead of the planned roll out of unified rules and regulations by the G20. {alt} This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Forecast natural gas markets choppy on Thursday DAX Index Price Forecast German DAX To Continue Bearish Movement For Sixth Consecutive Trading Session Crude Oil Price Update Tested Key Retracement Zone at $67.65 to $66.76 on Thursday Gold Continues Positive Movement for Third Consecutive Market Session on Trade War Woes Price of Gold Fundamental Daily Forecast Higher-Than-Expected Wages Could Drive Prices Sharply Lower Crude Oil Price Forecast crude oil rocked again View comments || Bitcoin Price Nears $6,800 Resistance as Crypto Market Records Large Gains: Bitcoin price steaming Over the past few hours, Bitcoin has recorded a slight 1 percent increase in price, nearing the $6,800 resistance level. The rest of the crypto market recorded large gains across the board as Electroneum and Stellar led the market with 70 percent and 20 percent gains respectively. As CCN reported on September 22, billionaire investor Mike Novogratz laid out $6,800 and $8,800 as major resistance levels for BTC in the short-term. If BTC can break out of the $6,800 mark in the next few hours, it is highly likely for the dominant cryptocurrency to enter the $7,000 region for the first time since September 4. Why is Bitcoin Lagging Behind Over the past week, Bitcoin has demonstrated decent momentum and gradual increase in volume, rising from the lower end of $6,000 to $6,700. But, in comparison to other major cryptocurrencies like Ethereum and Ripple that recorded monstrous gains against the US dollar, the short-term rally of Bitcoin has been lackluster. The discrepancy between the gains of Bitcoin and the rest of the market can be attributed to the stability of the dominant cryptocurrency. From July to September, for nearly three months, Bitcoin has demonstrated a slight loss of 9 percent. Meanwhile, Ripple and Ethereum declined by more than 45 percent. As such, the corrective rally of the crypto market that was initiated earlier this week, which was primarily formed due to massively oversold conditions showed by major cryptocurrencies, did not lead to a large increase in the price of BTC. But, as Novogratz stated, considering the stability in the price of BTC and its resilience in the low price range, breaking out of the $6,800 mark and eyeing an entrance into the $7,000 region could establish a strong foundation for a potential mid-term rally later this year. Exchange-traded funds (ETFs), institutional investors, and large-scale hedge funds will likely not enter the crypto market in 2018. The US Securities and Exchange Commission (SEC) has no reason to rush its decision to approve the first cryptocurrency-backed ETF in the countrys history and while there exists trusted custodian solutions in the market, institutional investors will likely wait out until the asset class recovers and for the market to mature. Story continues Hence, if Bitcoin reaches $10,000 by the end of this year, which Novogratz said it is impossible for it to not happen, it will be individual investors and retail traders leading Bitcoin to its yearly high. Considering that many billions of dollars from institutions will not hit the market for at least a couple months, it is important for Bitcoin to gradually climb to $8,800 and $10,000, to reduce the probability of a major retracement. Volume Remains Strong The volume of the crypto market remains strong at $14 billion, but the volume of Bitcoin has declined from over $5 billion to $4.2 billion, which suggests that either the market has started to take a breather or investors are focusing on high-risk trades to maximize profit. Featured image from Shutterstock. Charts from TradingView . The post Bitcoin Price Nears $6,800 Resistance as Crypto Market Records Large Gains appeared first on CCN . || Guest Spot: Who or What Can Put an End to Bitcoin?: Bitcoin Over the past few years, Bitcoin has experienced a huge number of attacks and external criticism, getting a reputation of Antifragile. This term was coined by Nassim Nicholas Taleb and describes the phenomenon when something becomes popular under unfavorable conditions. Some things benefit from shocks; they thrive and grow when exposed to volatility, randomness, disorder, and stressors and love adventure, risk, and uncertainty. Yet, in spite of the ubiquity of the phenomenon, there is no word for the exact opposite of fragile. Let us call it antifragile.- says Taleb. From this point of view, probably, in order to kill Bitcoin, you just have to stop criticizing it. However, in the world of constantly competing currencies and precious metals, this is very unlikely to happen. Attacks on Bitcoin: Past, Present, and Future Several months ago, the user of the Reddit network, under the nickname themetalfriend, compiled a list of all attacks that can be aimed at killing Bitcoin. In his opinion: there are three most common types of attacks on Bitcoin: Attacks to slowdown the Bitcoin development Attacks to slowdown the Bitcoin adoption Attacks to reduce the efficiency of the Bitcoin infrastructure From all the above it follows that all three types of attacks are interrelated. At the very least, they lead to the same result. Lets consider each of them in more detail. To Kill Bitcoin Legal attacks By imposing bans on using Bitcoin, governments can cause some inconvenience to the owners of the cryptocurrency. Bitcoin was banned in many countries, particularly in Ecuador, Afghanistan, Morocco, Vietnam, Bangladesh, and Bolivia, but these bans did not bring any results. At the same time, such countries like the United States and the European Union countries, do not even plan to prohibit cryptocurrencies. In China and South Korea, even banal rumors about the possible prohibition of Bitcoin were immediately reflected on its exchange rate. But even at the times of general public fear, Bitcoin continued and continues to exist. Story continues Despite the fact that many countries are trying in every possible way to prohibit the use of this cryptocurrency, they simply cannot stop the interaction of this citizens with the network. Today, services like Blockstream Satellite broadcast real-time blockchain data from satellites to almost all countries including Africa. Satellites enable everyone on the planet to connect to the Bitcoin blockchain even without access to the Internet. As for transactions, there are several anonymous ways to send Bitcoins, including Tor browser , top VPN services , SMS messages, encrypted messages or even stenography and ordinary postal services. It is useless to prohibit Bitcoin or any specific cryptocurrency since its code may change very quickly, much faster than the next legislative ban is ready. Even a well-coordinated legal attack from the UN and the WTO is likely to lead only to the fact that Bitcoin will go underground. There is a high probability that Bitcoin can become a subject of contraband, as it happened with drugs. If we talk about the persecution of those who are engaged in mining and owns big sums in crypto, then this has already happened. For example, Charlie Shrem was sentenced for aiding and abetting the operation of an unlicensed money-transmitting business. Despite such cases, underground black markets continue to gain momentum, so we can conclude that even the most severe punishments and bans do not stop users, but only fuel their interest in the cryptocurrency. Because of the fight against money laundering, various governments constantly increase their pressure on cryptocurrencies. Authorities dictate their own rules and require that exchanges and wallets share their users personal data under the guise of KYC and AML rules. It is possible that tax authorities will soon become interested in data of Bitcoin traders, as it already happened with Coinbase. It is necessary to take into account the fact that, one way or another, anonymous trade takes place anyway. Cyber warfare Cyberwarfare includes hacking and various kinds of illegal manipulations in social networks. Bitcoin, in spite of multiple hacking attempts, demonstrated its excellent resistance to such attacks. Bitcoin owes its high level of protection to its Proof-of-Work system. If even cyber crooks manage to change the Bitcoin code or alter transaction records, the network will immediately reject such actions. The more decentralized are the nodes in the network, the less likely such attacks succeed. At the moment, more than 12,000 such attacks have been recorded. It should be noted that Bitcoin owners and various services related to it (like exchanges and wallets) are exposed to attacks much more often than the cryptocurrency itself. Companies serving the cryptocurrency industry often get compromised, and data leakage occur. For example, large Bitcoin exchanges, such as Mt.Gox and Bitfinex, have been repeatedly attacked, resulting in more than 1,000,000 Bitcoins being stolen. Such hacking certainly prevents the adoption of Bitcoin, and the owners who suffered from these attacks and lost their money often stop using it. PR attacks For many people Bitcoin in associated with crime. Popular media and even politicians often say about it. But few people understand that gold is much more likely to appear in criminal cases. The media often exaggerate the extent of damage from data breaches. Journalists create more doubts and fear without taking into account the fact that breaching companies that serve Bitcoin and hacking Bitcoin itself are two different things. As a result, such reports of hacking give rise to unjustified doubts about the safety of Bitcoin. National Cryptocurrencies When Venezuela introduced its cryptocurrency Petro, it did not become so popular. All because the state did not have the resources to develop it. If a more developed and powerful country follows the same path, creates its own cryptocurrency, and in every possible way engages in its promotion, then, most likely, the result will be different. It is possible that such a coin will exceed the share of the Bitcoin market. Using similar names As for similar names, this is done in order to confuse users. Striking examples include Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond, Bitcoin Private. Attempts to rise at the expense of a well-known brand can be called an attack too. As a rule, such an attack is characterized by good funding and includes the following components: Buying huge amounts of cryptocurrency that is a competitor. Increased mining activities. Spreading rumors about Bitcoin. There are a lot of articles against original Bitcoin. Many of them are ordered by competitors. The creation of an opposition insisting that for example, Bitcoin Cash is real Bitcoin, although this is certainly not the case. Separation of bigger communities. For example, r/btc on Reddit separated from the r/bitcoin. Despite the fact that many newcomers were deceived by the bitter counterparts of Bitcoin, I would like to hope that the technical and economic merits of Bitcoin will become so obvious that in the near future, it would be impossible to cheat even those people who have never heard anything about cryptocurrencies. Attacks aimed at the cryptocurrency infrastructure Intentionally creating a big flow of transactions to slow their processing helps other cryptocurrencies to get popular. In this case, the increase of commissions for Bitcoin transactions helped alternative coins to justify their existence. The very well-known 51% attack is very unlikely to happen with Bitcoin but still many people fear such an attack carried out by state-sponsored player like China and its biggest market player Bitmain that produce ASICs. It can also happen that the dominance of the US dollar will soon come to an end. Some financiers suggest that in the near future Bitcoin will be able to outshine the US dollar. By the way, this turn of events would be of interest to the Chinese authorities. In this situation, they could force their miners to work towards Chinese political goals, scarifying immediate monetary gains. However, now the National Bank of China, on the contrary, reduces the energy supply of mining farms forcing miners to seek safe havens in other countries. High-level cyberattacks The so-called zero-day bug is an attack associated with unknown vulnerability for the correction of which the developers have 0 days. Because of such an attack in 2010, 184 billion Bitcoins were created. The problem was resolved within 5 hours, and the blockchain got forked. The incident did not cause serious troubles, because at that time Bitcoin was not used by so many people. But if this happens today, then it will cause real chaos, many users will suffer heavy losses and Bitcoin would get very bad PR. Network attacks can also be carried out by intelligence agencies, such as NSA. They can force operating system and CPU vendors to introduce special exploits in their products. It has long been known that most of the major companies in Silicon Valley cooperate closely with intelligence agencies. These include all major IT-giants like Apple, Microsoft, Google, and Facebook. Some security experts say that in 10 years quantum computing will be able to decipher Bitcoin crypto system. But even if this becomes possible, Bitcoin will most likely immediately switch to an attack-resistant algorithm. Conclusion it should be noted that if you take into account the total number of Bitcoin users, then really killer attack would require a lot of effort. Only a well-funded agency can inflict significant damage to the Bitcoin system. Ultimately it is possible to kill anything, even Bitcoin. Fortunately, Bitcoin already experienced many unpleasant moments and still remains very reliable. Probably, the next test Bitcoin will have to go through will happen during the next financial crisis. In the meantime, I do not worry much about its future. About the author: The author, David Balaban, is a computer security researcher with over 15 years of experience in malware analysis and antivirus software evaluation. Disclaimer: The views expressed in the article are solely that of the author and do not represent those of, nor should they be attributed to CCN. Featured image from Shutterstock. The post Guest Spot: Who or What Can Put an End to Bitcoin? appeared first on CCN . || Gold Miners ETFs Are Getting Torched: This article was originally published on ETFTrends.com. Gold prices are faltering and that is plaguing exchange traded funds tracking shares of gold miners. On Wednesday, the VanEck Vectors Gold Miners ETF (NYSEArca: GDX ), the largest exchange traded fund dedicated to gold mining stocks, extended a losing streak that has seen the fund lose almost 10% over the past month. GDX is comprised of global gold miners, with a notable tilt toward Canadian and U.S. mining companies. Stock fundamentals like cost deflation across the mining industry, share valuations below long-term average and rising M&A are all supportive of the miners space as well, but those fundamentals could be glossed over if the dollar strengthens. The small-cap VanEck Vectors Gold Miners ETF ( GDXJ ) , the second-largest exchange traded fund tracking gold miners equities, is also in a tailspin, having tumbled more than 9% over the past month. “An upside or downside break can lead to a market stretching beyond what typically qualifies as overbought or oversold. After Monday’s selloff, the gold stocks are hitting oversold levels but have more to go before reaching true oversold extremes,” reports ETF Daily News. Troubling Technicals for Gold Recent declines have GDX and GDXJ residing well into oversold territory and well below key moving averages. For example, GDXJ is about 15% below its 200-day moving average and just 5.4% above its 52-week low. “Monday’s decline in the gold stocks has moved the sector into oversold territory. Another day or two of a similar decline would likely put the various breadth indicators into extremely oversold territory. Within the context of a significant technical breakdown and a primary downtrend, one should wait for oversold extremes before turning bullish or covering shorts,” according to ETF Daily News. Related: Fed Policy Decision Could Continue Slowdown in Gold ETFs Inflation could serve as a catalyst for the yellow metal and for gold-related ETFs. By some metrics, the Fed has under-estimated U.S. inflation, which could prove beneficial to gold because the yellow metal is historically a popular inflation fighter. Story continues Traders willing to wager on more declines for gold miners can consider the inverse leveraged Direxion Daily Gold Miners Index Bear 3X Shares ( DUST ) and the Direxion Daily Junior Gold Miners Index Bear 3X Shares ( JDST ) . For more information on the gold market, visit our gold category . POPULAR ARTICLES FROM ETFTRENDS.COM How to Best Use an HSA to Your Benefit Does the Money Management Industry Need Consolidation? Tesla Board to Meet Next Week About Going Private Bitcoin Suffers from ‘Week of Pain,’ Bounce Ahead? Investors Flocked to Healthcare ETFs in July READ MORE AT ETFTRENDS.COM > || Bitcoin Remains Bearish as Cryptos Fall: Investing.com - Cryptocurrencies continued to fall on Tuesday, as Bitcoin remained in bearish territory.
Bitcoin fell 0.56% to $6,405.60 on the Bitfinex exchange, as of 8:13 AM ET (12:13 GMT).
Cryptocurrencies overall were down, with the coin market cap of total market capitalization was at $210 billion at the time of writing compared to $212 billion on Monday.
Ethereum, the second biggest alternative currency by market cap, fell 3.84% to $280.18 while Ripple, the third largest virtual currency, decreased 2.02% to $0.32992 and Litecoin was at $55.50, down 1.46%.
In other news, trading volumes at virtual currency exchange Coinbase fell by 83% to $3.9 billion from their all-time high of nearly $21 billion in January. Financial research company Bernstein said in a recent report that Coinbase could end up with an “unassailable competitive position” as traditional financial firms are unlikely to push into crypto spot trading in the near future due to worry over regulations and money laundering.
Still, exchanges are likely to double the amount of money they made last year, despite the fall in bitcoin and other digital coins, the report from Bernstein found, with Coinbase receiving about 50% of total revenues. Revenue at digital exchanages could increase to as much as $4 billion in 2018, compared to $1.8 billion in 2017.
Meanwhile, the volume of bitcoin futures listed at CME Group (NASDAQ:CME) doubled in July and rose in August, while Chicago-based rival Bitcoin Futures CBOE failed to grow as much, the Financial Times reported. The two exchanges are under pressure as a third company, Intercontinental Exchange, plans to offer its own bitcoin futures in November.
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Suspects in $87M Cryptocurrency Theft Arrested || All the Ways to Backup Your Bitcoin Wallet: Bitcoin and other cryptocurrencies allow for the decentralization of the entire financial situation. One of the consequences of that is that you get to be your own bank. Rather than letting a bank look after your money – and charge you a fortune for doing so – you can look after your own crypto assets. But that also means you must take responsibility for the security of your digital currencies.
Unfortunately, there are dishonest people out there doing everything they can to get hold of your wealth. As more people are buying and storing cryptocurrencies, hackers have more incentive to try to hack every device they can to steal those digital assets. They are also becoming more sophisticated over time.
All this means you need to take secure storage of your digital assets seriously. It also means that whatever method of storage you decide on, you need a backup of your wallet, and you need to know how to recover your wallet.
Cryptocurrencies are going to be an increasingly important part of our future, and it’s important to develop a habit of securing your digital assets properly and knowing what to do if a device fails, or if it’s stolen.
To help you navigate the options and some of the confusing jargon that comes with them, we have put this guide together.
• Terminology
• Which Wallet Is Right for You?
• All the Ways to Back up Your Bitcoin Wallet
• How to Encrypt a Digital File
• Where Should You Store Your Backup Files?
• Restoring Bitcoin Wallet
• Your Last Will and Testament
• Conclusion
First, let’s define some of the key terms you will come across when you buy, sell or store Bitcoin:
Wallet:A wallet is used to store private and public keys. A wallet can be compared to a bank account, a credit card, or even the wallet in your pocket. However, unlike these, a crypto wallet doesn’t actually store your Bitcoin, but rather the keys you use to access your Bitcoin.
Public Key:A public key is like a bank account number. This is the address another sender will use to send Bitcoin to you.
Private Key:A private key is required to access your Bitcoin. In order to send Bitcoin from your wallet, you will require the private and public keys.
Software wallet:A software wallet is a wallet that you download to a PC, notebook, or mobile device.
Popular Bitcoin Software Wallets include:
• For Windows: Bitcoin Core, Electrum, ArcBit, Armory
• For Android: Bitcoin Wallet, Bither, Edge, Electrum, Airbitz
• For iOS: Edge, Green Address, Bither
Hardware wallet:A hardware wallet is a device similar to a USB stick that allows you to store your keys offline.
Popular hardware wallets include: Trezor, Ledger Nano S, KeepKey
Hot wallet:A hot wallet is any wallet that is online. This can be a software wallet on your own devices, or a wallet hosted on an exchange or elsewhere in the cloud.
Cold Wallet:A cold wallet is an offline wallet. Cold storage means either keeping your keys on hardware wallet or printed on a piece of paper, stored in a safety deposit box or hidden somewhere.
Backup:A backup is a file containing your private and public keys which will allow you to restore your wallet if you lose a device or if your hard drive is damaged.
Your choice of wallet comes down to the trade-off between security and convenience. The easiest way to store Bitcoin is on an exchange. However, this is also the least secure method. When your cryptocurrencies are stored on an exchange, you do not have control of your keys. If the exchange is hacked, the hackers can steal the assets belonging to all the exchange’s clients, including yours.
At the other end of the spectrum are hardware wallets and paper wallets. If your assets are stored offline, hackers can’t get hold of them. But this also means you need to take full responsibility for storing your keys where nobody can get them.
If you own very little in the way of Bitcoin, an exchange is probably the way to go. If losing your Bitcoin would be a big problem, a software wallet is a better option. And, if your crypto assets are worth a considerable amount, you’ll want to keep the bulk of those assets offline, either on a hardware wallet, or a securely stored paper wallet.
One of the disadvantages of decentralized ledgers is that you cannot retrieve a lost password. If you lose the password to the website, or if you forget the PIN code for a bank account, there is always a way to reset that password.
Public keys are like a bank account numbers on a blockchain, and private keys are the passwords to access those accounts. The problem is that if you lose either, there is no one to turn to. If you lose the device that stores those keys, they are gone forever, and so are your Bitcoin. Therefore, you must always back up your wallet.
There are several ways to back up your wallet, the following being the most popular:
Seed phrase:Most wallet software does include a recovery process. The software will generate a seed phrase, which you need to write down and store somewhere safe. If for whatever reason, you lose your wallet, you can use this phrase to recover it.
A seed phrase will look something like this:
slim sugar lizard predict state cute awkward asset inform blood civil sugar
The words need to be in the exact order they are generated. For most wallets, if you lose your password, it cannot be recovered or reset, however, if you do lose the password, you can recover the wallet using the seed phrase.
Text File:Software wallets have a function that allows you to export your keys. On some wallets, the function is labeled backup wallet, while on others it is labeled export keys. When making backup files, it’s a good idea to disconnect your computer from the internet before doing so.
On theElectrum wallet, the function is under Wallet > Private Keys > Export and looks like this:
Once you click onExport, you will be able to choose between a CSV file or a JSON file, and then choose the drive to send it to.
The file that will be generated is a text file containing all your public and private keys. Remember that once you have that file on your computer, anyone who has access to it has access to all your Bitcoin. As soon as you have created a backup file you should move it somewhere secure, encrypt it (see below), or delete the contents of the file. If you delete the file, go to yourRecycle Binand delete it there too – that’s one of the first places hackers will look for valuable information.
Copy Wallet.dat Files:The other way to make a digital copy of your wallet, is to copy the file the wallet uses to store the keys. Each software wallet stores the file in a slightly different location on your PC, so look at the documentation to find it.
The Electrum wallet stores this file on Windows as follows:
\Users\YourUserName\AppData\Roaming\Electrum\wallets (or %APPDATA%\Electrum\wallets)
For Apple and Linux operating systems you can search for: ~/.electrum
You will probably have to make sure hidden files are being shown to find it.
Paper Copy:One of the safest ways to store your keys is to make a paper copy. Disconnect your computer from the internet and print out the file. Then cover the paper with foil (so it cannot be viewed against a light source), and seal it in an envelope. This should be hidden somewhere, or stored in a safety deposit box or a safe. Once you have done this, remember to delete the file you printed from your computer
If anyone can open a digital backup file, they have access to all your keys, and therefore all your Bitcoin. For this reason, it’s a good idea to encrypt the file with a password.
When it comes to encrypting a file, there are several options. Most operating systems have a built-in encryption function that is secure enough for most people’s needs.
If you want to use the best encryption possible you can download encryption software from VeraCrypt, AxCrypt or a similar provider. This software allows you to choose between several methods of encryption. You can usually choose between 128 and 256-bit encryption and you can to use two-factor encryption too.
If you have made a digital backup file (preferably encrypted) you will need to store it somewhere. There are a couple of options for storing these files. Remember, there is little point keeping this file on the same devices as the device with the original wallet on it.
You could store it on another PC, notebook, or even a mobile phone or tablet. Or you can store it on a USB drive, but not if you are likely to lose the drive. The safest way to store a backup file is on a USB drive in a safety deposit box at a bank, or in a safe.
Digital backup files can also be stored using cloud storage services like Dropbox, One Drive, and others. Some people are skeptical of the level of security offered by the most popular cloud services, so make sure you encrypt files before sending them to the cloud.
Restoring a Bitcoin wallet is easier than it sounds. If you have a seed phrase, you can simply use the ‘Restore’ function. Even if your device is lost or stolen, you can download a new wallet on another device, and restore it using the seed phrase.
Simply look for the ‘Restore’ function in the menu, and follow the instructions.
To restore a wallet using the wallet.dat file, simply replace the default wallet file on your computer with the backup file you made. It’s as simple as that.
If your backup file is a text file, you will need to log into the wallet interface, create a new wallet, and then copy and paste the keys from your backup text file. Again – it’s as simple as that.
There’s one last thing to consider. Another challenge that cryptocurrencies have introduced is inheritance. If, or rather when, we die, if no one else has access to our Bitcoin, it’s impossible for them to be passed on to our heirs. Even if you explicitly state in your will that you are leaving your crypto assets to a spouse or child, without access to your keys, they will have no access to your digital assets.
There are several ways to make sure your heirs can access your private and public keys. Here’s a relatively simple solution: Create a simple text file with all your keys on them. Put the file in an encrypted, password-protected file on a USB stick. Use a different password from all your other passwords for this. Then give the USB stick to a family member and ask them to keep it somewhere secure. Finally, include the password for the file in your will, a copy of which is kept with your solicitor. When you die, the password will be given to your family, and they will have access to the file on the USB stick.
There are two important aspects to remember about storing your Bitcoins. Firstly, you and you alone are responsible for making sure your crypto assets are safe and that they can’t be accessed by hackers. And secondly, if you are securing your assets properly, there is no password recovery option – if you lose your wallet or access to it, your Bitcoins are gone forever.
For this reason, it’s is important to have a process to both secure your keys using a wallet AND backup those keys. Even if you don’t yet have a large Bitcoin holding, it’s worth getting into the habit of doing this thoroughly. Cryptocurrencies will play an increasingly large role in our lives in the future, and storing them properly will only become more important with time.
Thisarticlewas originally posted on FX Empire
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• Commodities Daily Forecast – August 7, 2018 || iQiyi's Second Quarter: Heavy Spending, but Even Stronger Subscriber Growth: After spinning off from internet search leader Baidu (NASDAQ: BIDU) earlier this year, iQiyi (NASDAQ: IQ) is solely focused on streaming digital media, and it's showing solid growth in its home country. The investments it's making today in digital content are sizable, but also necessary to win over subscribers from large competitors . Just as Netflix (NASDAQ: NFLX) has shown us stateside, digital media is a winner-take-most market, so the price of admission is high. iQiyi charges monthly subscription fees for unlimited access to content, and will likely eventually reach a tipping point where its subscription revenue overtakes content costs. It hasn't reached that point just yet, but the most recent quarterly report quarter brought the company one step closer to profitability. Let's look at iQiyi's second-quarter results: Tiny movie theater seats placed on a laptop's keyboard. Image Source: Getty Images iQiyi results: The raw numbers Revenue $932.5 million $653.8 million 43% Operating income (loss) ($200.7 million) ($149.7 million) N/A Earnings per ADS ($0.45) ($5.17) N/A Data source: iQiyi. Q2 2017 results are estimated at the exchange rate of 6.6 yuan to $1, as in Q1 2018 (as such, YOY changes may not match reported results). One American depositary share (ADS) = 7 common iQiyi shares. What happened this quarter? iQiyi's business is split equally between subscriptions and advertising. Paying subscribers get ad-free and exclusive content. Non-paying users get to watch content on the site or in the app, but it's supported/interrupted by advertising. Here are some Q2 highlights: Membership services revenue increased 66% year over year to $374 million (2.5 billion yuan), a similar growth rate as last quarter. This division represents iQiyi's subscribers, who now number more than 67 million, up 75% from the year-ago period. Online advertising services revenue was up 52% to $396 million (2.6 billion yuan). iQiyi's artificial intelligence algorithms, which were largely developed by Baidu, are becoming fine-tuned and attracting plenty of web browsers. Content distribution revenue increased 18% to $82 million (539 million yuan). iQiyi sub-licenses much of its content to others, who pay royalties for the rights to air it elsewhere. Content costs were up 47% to $709 million ( 4.7 billion yuan). This is by far the largest component of the cost of revenue, and the growth rate of iQiyi's content costs declined a bit from last quarter, when it was 54%. But the company is still investing heavily in obtaining the rights to the most-demanded shows. Selling, general, and administrative costs rose 51% to $144 million (950 million yuan). iQiyi continues to pay up to have its app pre-installed on new devices as a way to attract users. Research and development expenses were up 50% to $67 million (442 million yuan). This includes costs of personnel related to app development. Story continues What management had to say iQiyi founder and CEO Yu Gong was quoted in the company press release talking about the company's strength during the second quarter and its longer-term ambitions: Supported by our vast library of premium content, and the premiere of a series of highly popular self-produced content, our membership and advertising businesses both generated robust growth during the quarter, with the total number of subscribing members reaching a new record high. Looking ahead, we will continue to invest in advanced technology, expand the breadth and depth of our content offerings, and nurture our entertainment ecosystem, as we pursue our innovative and diversified monetization model that fully leverages our premium content and [intellectual property] value. Looking forward iQiyi is still investing heavily in content and is still reporting heavy operating losses. There is still a lot of risk. But one metric I really like to track is the difference between the growth rates of membership revenue and of content costs. If revenue grows faster than content costs, then iQiyi is scaling as a business. The larger the difference, the better -- and this quarter's difference of 19 percentage points (66% growth in membership revenue minus 47% growth in content costs) was even greater than the 13-percentage-point difference of last quarter. That's good news for long-term investors, and a sign that iQiyi is getting a nice bang for its buck on its content. iQiyi's recent collaboration with JD.com (NASDAQ: JD) is also bearing fruit. Similar to how Amazon (NASDAQ: AMZN) offers its Prime members free movies, JD offers iQiyi's media content to its own Plus e-commerce members. In the first week of the partnership, iQiyi brought in an additional 1 million new members. Investors will continue to watch for growth in iQiyi's membership and advertising revenue. Even though the company is spending aggressively to attract viewership and new members, it is still in the early stages of what is likely to be a very long growth story. 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 Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Simon Erickson owns shares of Amazon, iQiyi, and JD.com. The Motley Fool owns shares of and recommends Amazon, Baidu, and JD.com. The Motley Fool recommends iQiyi. The Motley Fool has a disclosure policy . || Ripple Continues to Be No Different From Other Cryptocurrencies: Of all the major “alt-coins,” the alternatives to Bitcoin that have sprung up this decade, none has been more focused on becoming “real money” than Ripple (CCC: XRP-USD ). Ripple isn’t “mined,” but verified . It’s designed to bypass the fees found in converting currencies. For example, where the exchange rate may be 111 Yen to $1, travelers would get just 99 . Ripple was born with big backers, like Alphabet’s (NASDAQ: GOOGL ) Google Labs. It has worked extensively with banks around the world, and its business plan remains to integrate its technology into existing payment systems. InvestorPlace - Stock Market News, Stock Advice & Trading Tips So, if any alt-coin is going to stabilize, you figure it will be Ripple. If any alt-coin is going to become a medium of exchange, rather than a speculative asset, it will be Ripple. But that’s not how it’s working out. Why Ripple Has Fallen As Bitcoin’s value has fallen through 2018, from a high of $20,000 to its August 8 price of about $6,500, Ripple has come down right along with it. A Ripple coin was worth $3.30 in January. It’s now worth 36 cents, and its value relative to Bitcoin has been falling as well. 15 Stocks to Buy Ahead of the Fall Season The reason, as I explained back in February , is that cryptocurrency is a market dominated by Asian speculators. Americans may act as cheerleaders and technology innovators, but the people buying and selling cryptocurrency are, for the most part, Asian investors. Source: Block0 via Medium.com A recent analysis by the cryptocurrency angel fund Block0 shows that this is increasingly true . Asian currency markets represented 59% of trading in the fourth quarter of 2017, and 77% in the second quarter of 2018. The greatest interest by country comes from South Korea. An asset that is dependent on speculation, whose value is subject to change without notice, is not a good medium of exchange. Why should Thai workers in Japan send their money home as Ripple, rather than Bhat, when the value of that Ripple might fall 10% in one day, as it did August 7? Story continues The latest fall comes alongside an unexplained rise in Tether (CCC: USDT-USD ). Tether’s value is supposedly tied to the U.S. dollar but its sponsor, Bitfinex, is in Hong Kong and has never been audited. Tether is often used to arbitrate trades, because of the supposed dollar tie, and Bitfinex has been accused of using it to pump up cryptocurrency prices. Seeking Legitimacy In their continuing efforts to seek legitimacy, crypto managers are constantly seeking the validation of trusted sources. Case in point, Bill Clinton is scheduled to keynote the next Ripple conference . Most recently, Tether Ltd. had former FBI Director Louis Freeh verify that Tether does indeed have the dollars to back its coins it claimed to hold in June, with about $7 million to spare. That didn’t prevent the latest hiccup. The Bottom Line on Ripple Cryptocurrency remains thinly traded, mostly in east Asia, and the value of all so-called “alt-coins,” like Ripple, remain correlated with that of Bitcoin itself. As this was written, Bitcoin still represented 48.6% of the total market. It is the strongest of all the crypto-coins, by far. The total value of Ripple, $14.4 billion, is a little more than 10% of Bitcoin’s valuation, $114.3 billion. Until Bitcoin stabilizes, none of the other alt-coins, including Ripple, will be able to find stability, and it is stability that is necessary for Ripple to become a medium of exchange rather than a mere speculative asset. 5 Stocks to Sell or Avoid in August If Intercontinental Exchange (NYSE: ICE ), owners of the New York Stock Exchange, can’t create stability in the Bitcoin market — and the price of Bitcoin has fallen over 10% since they announced their interest in that — it’s hard to see any alt-coin, including Ripple, finding the stability it seeks. Dana Blankenhorn is a financial and technology journalist. He is the author of a mystery novella involving Bitcoin, The Reluctant Detective Saves the World , 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 story, and no cryptocurrency. To follow the value of cryptocurrencies bookmark https://coinmarketcap.com/ More From InvestorPlace The 10 Best Stocks to Buy Right Now 7 High Short-Interest Stocks 5 Retail Stocks Set to Steal the Show This Earnings Season 3 Cybersecurity Stocks to Add to Your Buy List Compare Brokers The post Ripple Continues to Be No Different From Other Cryptocurrencies appeared first on InvestorPlace . || Brazil’s Biggest Brokerage Processes Bitcoin Trades, Gov’t Supportive: Grupo XP, the largest independent brokerage in Brazil, has publicly released its plans to launch a Bitcoin and Ethereum trading platform by the end of 2018.
Guilherme Benchimol, the chief executive officer of Grupo XP and XP Investimentos SA, stated that the business will integrate Bitcoin and Ethereum into the existing infrastructure of the brokerage, allowing more than three million investors in the country to invest in the asset class.
As CCN previously reported, on Sept. 20, the government of Brazil and its antitrust watchdog have launched a formal investigation into banks and major financial institutions in the country after receiving complaints that crypto exchanges received subpar financial services from local banks.
Officials at the Administrative Council for Economic Defense (CADE) said:
“However, it does not seem reasonable for banks to apply such restrictive measures a priority on a straight-line basis to all cryptocurrency companies, without examining the level of compliance and the anti-fraud measures adopted by individual brokerage firms conferring unlawful treatment per se on businesses brokering cryptocurrencies.”
In an official announcement, Grupo XP CEO Benchimol emphasized that he personally is not a fan of cryptocurrencies as a store of value and consensus currency. But, he stated that the company feels obligated to start advancing in the market because ultimately, similar to banks, investment firms are required to meet the demands and needs of their clients.
“I must confess, this is a theme I’d rather didn’t exist, but it does. We felt obligated to start advancing in this market,” Benchimolsaid.
The surprising decision of Grupo XP is particularly monumental for the South American cryptocurrency market because it comes at a time in which the government of Brazil has taken its first approach towards legitimizing the market with stable financial services and banking partners.
With support from the government and the country’s largest investment firm involved, in the next few months the cryptocurrency market of Brazil will likely see an emergence of exchanges that are capable of providing services that were not available to the population less than nine months ago.
It is entirely possible that the encouragement of the government to banks to provide financial services to local cryptocurrency exchanges could leave the market open to established exchanges that are eying international expansion.
Already, in the past week, Binance and Upbit, the crypto market’s two largest exchanges alongside OKEx and Huobi, haveexpandedto Singapore.
Since mid-2017, the US, Japan, and South Korea have seen the stabilization of their respective cryptocurrency exchange markets equipped with robust infrastructure and practical regulatory frameworks designed to protect investors and facilitate the growth of crypto-related businesses.
For many years, South America and Europe have lagged behind Asia and the US due to regulatory uncertainty, but the forward-thinking approach of the Brazilian government and the encouraging trend of major financial institutions entering the crypto market could potentially lead to exponential growth of the crypto market of Brazil, Argentina, and Venezuela.
Images from Shutterstock
The postBrazil’s Biggest Brokerage Processes Bitcoin Trades, Gov’t Supportiveappeared first onCCN. || Crypto Startup Taps Larry King in Shared Effort to Combat Climate Change: In a message on GEAR Token’swebsite, iconic political talk show host Larry King says that global climate change is threatening humanity’s existence and is “a potentially catastrophic issue from the combustion of fossil fuels ... putting immense pressure on the environment and on our health.”
King says that “this is simply not sustainable” and “the pace of innovations and investment in green energy and renewables is not enough to help counteract the use of dirty fuels.”
King is focusing his energies as a member of GEAR’s Advisory Board, helping the small startup, still in incubation, to raise funds for the development of green mining technology to reduce energy consumption in bitcoin mining that has given bitcoin a bad rap with environmentalists.
Aware that the U.S. government is also getting a bad rap from environmentalists, GEAR is hoping to counter any doubts that global climate change is a serious issue.
The GEAR team toldBitcoin Magazine:
“We want to highlight the increasing importance of investing in green projects and startups, given the changing political landscape against efforts to prevent further global warming, such as the U.S. pulling out of the Paris climate accords.”
Indi Pathak, president of GEAR, explained:
“Our mission is to use blockchain and crypto to help and give back to the Earth through things such as building more and more tangible, real-world assets, such as hydroelectric farms, solar farms, etc. every year with GEAR GROW, while also using GEAR CAPITAL to fund and support startups working on the next big technological innovations in green energy and renewables.”
Larry King calls GEAR “the world’s first closed-loop green energy and renewables-focused token investment network helping to promote environmental sustainability.”
GEAR hopes to be a bridge for traditional investors between traditional investment tools and the new world of ICOs and tokens.
Pathak explains:
“We want GEAR to be a way to connect and introduce standard fiat investors to crypto in a way they already understand and trust.”
“Using the team's background in traditional finance, we're aiming to bridge the gap between standard capital markets and current crypto investors to create an investment opportunity that is attractive to both.”
“This involves being compliant with markets through things like SEC filings, and making crypto more digestible and accessible to traditional investors through things they're more comfortable with, like traditional PPMs and memorandums.”
Asdiscussedat a recent mining conference, the pressure on cryptocurrencies is growing as the sheer volume of energy that must be used to solve increasingly difficult equations increases.
GEAR says that the total energy consumed by the BTC network in one year could power 6,585,585 homes for that same year. One bitcoin transaction uses enough energy to power 34 homes per day.
Bitcoin mining uses the same amount of electricity as the countries of Chile and Austria and more than Switzerland, Columbia and Iceland according to a graph on GEAR’swebsite.
Despite current regulatory uncertainty, GEAR Token is working closely with U.S. and Canadian regulators to “be as compliant as possible, while also trying to strengthen more regulation in the space by sharing our own insights with regulators,” said Pathak.
GEAR Blockchain Inc. has filed a Notice of Exempt Offering of Securities with the U.S. Securities and Exchange Commission for the sale of GEAR tokens both inside and outside the U.S. under the Securities Act of 1933, and within Canada as a supplementary offering with the Ontario Securities Commission.
GEAR wants a more certain regulatory environment to give stability to ICOs, said Pathak.
Our view is that more regulation is needed in the space to nurture an environment for legitimate offerings and bring more trust into the space.
The GEAR team recently returned from a roadshow across Asia, after meeting with some of the largest suppliers of mining equipment.
Their next stop includes a token sale launch at theBlockchain Futurist Conferencein Toronto, Canada, where King will be moderating a panel on Wednesday, August 15 entitled "Mass Influence and Adoption of Blockchain Technology," featuring Charles Hoskinson (CEO, IOHK), Justin Wu (advisor, GEAR Blockchain), Al Burgio (Founder, DigitalBits.io), and Michael Moyal (Co-founder, Slate).
Pathak toldBitcoin Magazine:
“With Larry's global recognizability spanning generations, he's really helping us to make blockchain and crypto more accessible and approachable to those who are still unsure of and new to the space. Larry has also interviewed everyone from presidents to business leaders to key influencers, so has the ability to open up a lot of doors to spread the message of GEAR and our positive social impact.”
GEAR is being incubated by Canadian merchant banking groupForbes & Manhattan, founded by Stan Bharti who also serves as one of GEAR's advisors and is also a speaker at the upcoming Futurist conference.
“Our launch and goal at Futurist is to raise awareness for both the need for a change in current mining methods,” said Pathak, “and the importance of creating an environment that helps to incubate greener blockchain technologies and cryptocurrencies.”
This article originally appeared onBitcoin Magazine.
[Random Sample of Social Media Buzz (last 60 days)]
@eztechwin || @India_Bitcoin || @eztechwin || @lifeoncoin || @whats_a_bitcoin || @India_Bitcoin || @BTC_INFOCHAIN || @lifeoncoin || @btc_update || @bitcoin_reddit
|
Trend: down || Prices: 6676.75, 6644.13, 6601.96, 6625.56, 6589.62, 6556.10, 6502.59, 6576.69, 6622.48, 6588.31
|
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 2019-05-20]
BTC Price: 7978.31, BTC RSI: 68.33
Gold Price: 1276.10, Gold RSI: 44.10
Oil Price: 63.10, Oil RSI: 54.69
[Random Sample of News (last 60 days)]
Bitcoin advocate and former CFTC commissioner, Bart Chilton dies: Bart Chilton, the former U.S. Commodity Futures Trading Commission and Bitcoin advocate, has died. The TV channel RT America, for which Chilton hosted the show Boom Bust, announced the death late Saturday citing an unspecified sudden illness. He was 58. Today is a very sad day for our team, as we must share the news of the passing our friend Bart Chilton. As we remember him, we commit to doing our best to honor his legacy of excellence. https://t.co/76f6Oa5L0G RT Boom Bust (@BoomBustRT) April 27, 2019 Prior to his TV career, Bart Chilton was Commissioner at the US Commodity Futures Trading Commission from 2007 to 2014. At the Commodity Futures Trading Commission, he headed the Energy and Environmental Advisory Committee and the Global Markets Advisory Committee. He has served on multiple local, federal and presidential campaigns, the Obama presidential transition team, and in the US House, Senate, and Executive branch. CFTC Chairman Chris Giancarlo tweeted that Chiltons death was sad news for all of us. Terry Duffy, chief executive officer of CME Group Inc., one of the major futures exchanges regulated by the CFTC, said the former commissioner was an enthusiastic advocate for the futures industry where he made many significant contributions during his tenure. Beyond that, he was a friend and colleague who will be missed greatly. Bitcoin is not a scam or a fraud Back in November 2017, Bart was applauded by the crypto community as he made the case that Bitcoin is not a scam or a fraud in rebuke to comments made by Jamie Dimon and President Putin. Chilton has also made comments arguing that, while the U.S. should embrace the potential of cryptocurrency and blockchain technology, he believes proper regulations are needed for sustainable growth in the industry especially when it comes to protecting investors. Story continues 2019s Good, Bad And Ugly Of Cryptos https://t.co/YU59OqI5pR The beginning of the year is a Bart Chilton (@BartChilton) January 30, 2019 In a closing comment during his most recent opinion piece (2019s Good, Bad and Ugly of Cryptos), Chilton gave an honest assessment of how the transaction may move the existing to a new and better digital economy. He said, The crypto-anarchist will say the existing systems are on their way out. They will perish. My view, thats nutty talk. Im in the camp of working within existing systems to make meaningful progress. The old adage, if you arent part of the solution, youre part of the problem, comes to mind. The post Bitcoin advocate and former CFTC commissioner, Bart Chilton dies appeared first on Coin Rivet . || Bitcoin Price Slingshot Will Follow Bitter Struggle Near $6,000: Mike Novogratz: ByCCN: Afterhitting a new 2017-high, bitcoin price could struggle around $6,000 before moving higher, according to Mike Novogratz.
The billionaire chief executive officer of Galaxy Investment Partners LLC said bitcoin was the only store of value while the rest of the cryptocurrencies still had to prove their particular use-cases. That gave bitcoin a certain edge over the market which, upon testing a technical barrier at $6,000, could explode towards higher upside targets.
“Bitcoin is worth $100 billion,” NovogratztoldBloomberg. “It’s the social construct that made it worth $100 billion. It’s pretty fu**ing cool – like a self-fulfilling prophecy. I feel better about bitcoin today that I have [at] any time of my career.”
Novogratz’s statement came just hours before the bitcoin pricebroke above the $6,000-level. As of 0841 UTC, the crypto-asset was trading at $6,062, after correcting lower from its newly-established 2019 high towards $6098.21. The bulls considered $6,000 a critical level for bitcoin, given its history of capping the asset’s infamous downtrend in 2018 on almost ten separate occasions.
Bitcoin Price Breaks above $6,000-Resistance | Source: CoinMarketCap.com
There was still a possibility of the bitcoin price pulling back below $6,000 to neutralize its overbought conditions. Novogratz agreed but maintained his long-term bullish stance for the cryptocurrency. Among the reasons for his confidence was an increase in regulations and inspections in the wake of growing crypto frauds, as well as institutional adoption by the likes ofFidelity Investmentsand social media giantFacebook, which was reportedly developing its own stablecoin.
Novogratz pointed out that a whole new generation, particularly the young technology talents, was interested in purchasing bitcoin.
Read the full story on CCN.com. || The pros and cons of cryptocurrency brokers and CFDs: Cryptocurrency turned from a niche thing known to a small group of computer geeks into a wildly popular speculative asset class that requires a number of trading tools and options. Contracts for difference – or CFDs for short – have been a favourite instrument for trading anything from gold to soybeans for decades, and now CFDs are widely used to speculate on cryptocurrency price movements. Let’s take a closer look at what CFDs are and how they can be used to gain exposure to the cryptocurrency market. What is a CFD? A contract for difference (CFD) is a financial derivative made in the form of futures contracts concluded between a trader and a broker and settled in cash payments rather than by the delivery of physical goods or assets. Basically, CFD traders do not actually deal with the underlying asset. Instead, they get the right to receive the difference between the current cost of an asset and its future value. If traders are right with their predictions of the asset’s future value, they pocket the price difference. Otherwise, they have to cover the loss by paying the price difference to the broker. This system works nicely for any type of asset, including cryptocurrencies. Let’s say you are sure that the price of Bitcoin will rise substantially soon and you want to profit from that price movement. You may go out and buy some coins at a cryptocurrency exchange, but the procedure is pretty tiresome and sometimes complicated, especially when your investment horizon is only a couple of hours and you are not experienced in dealing with digital money. In this case, you can opt to buy a contract for difference instead of purchasing real Bitcoin. Most of the major trading companies have already responded to the growing interest in crypto trading and added CFDs for various digital assets to their lists of tradable instruments. It means that you won’t have problems finding a broker with suitable trading conditions. For example, you may sign a contract for difference with any other trading company at a current price with the settlement at the end of the business day. Story continues If you got it right about the future price movements and Bitcoin grows higher within the lifespan of the CFD, the broker pays you the difference. On the other hand, if your forecast proves to be wrong, you lose money as you have to compensate the price difference to the broker. Basically, you bet on whether the price of the asset will drop or rise within a specific time. As neither you nor your counterpart has to own actual Bitcoins to do that, a contract for difference offers investors a hassle-free and straightforward way to generate profits on changing cryptocurrency market conditions. Advantages of cryptocurrency CFD trading A lot of traders seek cryptocurrency exposure with established brokers via CFDs as this type of investment option has various benefits over direct buying and selling of cryptocurrencies. Easy setup Direct cryptocurrency trading is often associated with technical issues. People who are not tech-savvy are sometimes scared by wallet opening procedures, a verification process on a cryptocurrency exchange, and other crypto-related nuances. They tend to resort to exchanges with a long experience of customer relations, easy account set-ups, and one-click trading features. Also, those engaged in CFD trading for other products are more likely to use this instrument to add cryptos to their existing portfolio of CFDs and benefit from their price movements. Leverage trading Access to high leverage opportunities is probably the most popular reason for trading cryptocurrencies via CFDs. This tool allows trading with more capital than a trader actually has. It means that with a 5:1 leverage, you need only $500 to open a position worth $2,500 and earn a considerable profit even with small price movements. As regulatory requirements towards digital assets do not bind brokers, they are free to decide on how much leverage to offer. That is why margins on CFDs are usually higher than on futures contracts or the underlying asset. However, leverage increases both earning opportunities and potential losses, which means that one needs to be extra careful when trading CFDs for cryptos with leverage. Leverage is offered by the vast majority of brokers, while most cryptocurrency exchanges – apart from BitMEX, Kraken, and Poloniex – do not support this option. Advanced technical instruments When trading CFDs for cryptos with a traditional broker, you have a wide choice of technology and risk management instruments at your disposal, including stop loss and take profit tools. Considering the notoriously high volatility of the cryptocurrency market, they may come in handy and protect you from devastating losses. At the same time, advanced charting tools and analytical support offered by brokers help to make informed investment decisions and improve your overall performance. Better regulation Most CFD brokers are regulated by CySec, the FCA, or some other reputable financial watchdog. It means that customers of a trading company are better protected from fraud, bad practice, and outright theft. Moreover, in the event of bankruptcy or other similar adverse circumstances, traders may apply for compensation and get all or some of their money back. Speed of trading As you do not actually buy or sell digital assets with a CFD, all your transactions are executed in a split second on the broker’s trading platform. This gives you flexibility and allows you to react quickly to market movements. Meanwhile, cryptocurrency transactions on the blockchain may take hours and even days depending on the coin and the network capacity, which means that traders won’t be able to benefit from rapid market changes. Still, nothing is perfect. Could CFDs impact traders and investors negatively? Disadvantages of cryptocurrency CFD trading For all the benefits described above, CFDs for cryptocurrencies have two major drawbacks and pitfalls worth considering before putting your money into one. Price considerations CFD crypto trading comes with a price in the form of a spread, which represents the difference between the buying and selling prices. You pay it anyway, irrespective of the outcome of the trade, so you will initially experience losses at the time you enter into a crypto CFD position. The less liquid and riskier an underlying asset is, the wider the spread you pay. As well as this, all CFD brokers charge fees for holding a CFD position from one day to the next. They are based on a percentage from the LIBOR rate and may be really high for Bitcoin and other cryptocurrencies due to their volatile nature. As a result, the expected price movement should be significant to cover the trading commissions and bring profit. Trust considerations CFDs are based on a significant amount of trust. You need to make sure that the prices on your broker’s platform are in sync with general market movements and sourced from an exchange. Some unfair brokers may manipulate the cryptocurrency prices which might lead to unnecessary losses on clients’ accounts. Moreover, some CFD brokers have already shut down cryptocurrency trading, which makes them less reliable in terms of continuous service. The post The pros and cons of cryptocurrency brokers and CFDs appeared first on Coin Rivet . || Bitcoin Roars Back From ‘Flash Crash’ to Breach $8,000 Once More: (Bloomberg) -- Peak excitement over Bitcoin is back, with the largest cryptocurrency surging again after a “flash crash” at the end of last week that only temporarily dented optimism.
Bitcoin jumped as much as 17% Monday, briefly breaching the $8,000 level. Since the beginning of the year, the original digital token has more than doubled as more mainstream Wall Street firms embrace cryptocurrencies and its underlying blockchain technology. Other digital currencies, including Ether, have also seen double-digit gains.
“A strong breakout would no doubt garner a very large amount of excitement, and opens up the way for a much larger move upward,” wrote Mati Greenspan, senior market analyst at eToro, in a note Monday.
Crypto fanatics are hyping up the possibility that an exchange-traded fund that tracks Bitcoin, long seen as a major step toward widespread acceptance of digital assets, could be approved as soon as Tuesday. Internet rumors are fueling speculation that a speech by the U.S. Securities and Exchange Commission’s Hester Peirce at a conference this week isn’t mere coincidence but, instead, portends regulatory approval of the first fund.
“A Bitcoin ETF would certainly be positive both short-term and long-term,” said Lou Kerner, partner at CryptoOracle. “The amount of flows into ETFs can be very significant since a lot of investors prefer ETFs, and it obviously connotes additional market approval, government approval of Bitcoin. It really would be a bullish thing.”
“But there are lots of reasons to take news of a pending ETF with a grain of salt,” said Kerner. “There are still a lot of unanswered questions about how it would be handled.”
The SEC has delayed approving a Bitcoin ETF on concerns that prices could be vulnerable to manipulation. Peirce has long been an avid proponent of cryptocurrencies and has earned the moniker “Crypto Mom” from fellow fans.
Bitcoin also got a boost after the venerate “60 Minutes” news program, which regularly reaches more than 10 million viewers, aired a segment about Bitcoin’s rise and fall on Sunday night.
Despite the excitement, worries over manipulation, fraud and swift price movements still persist. Bitcoin has surged beyond its “intrinsic value,” mirroring a similar move in 2017 that preceded a slump, strategists at JPMorgan Chase & Co. wrote in a note last week.
Bitcoin’s “bear market is likely over,” said Mike McGlone, Bloomberg Intelligence analyst. “Bitcoin is in a knock-around range type market for an extended period but unlikely embarking on a new parabolic run like 2017.”
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, Rita Nazareth
For more articles like this, please visit us atbloomberg.com
©2019 Bloomberg L.P. || LocalBitcoins Under Supervision Soon in Blow to Bitcoin Trading Anonymity: ByCCN.com: International peer-to-peer crypto exchange platformLocalBitcoinshasrevealedthat it will now be put under the supervision of the Financial Authority of Finland. This is a blow for users who have continued to use the exchange for its reliable presence in the industry and the ability to make anonymous trades.
LocalBitcoins, which is based in theFinnishcapital of Helsinki, wrote in the post that the Finnish Parliament had granted approval for the new legislation that will legalize crypto assets. The regulator reportedly passed approval on a new Act on Virtual Currency Service Providers, which is expected to come into effect from November 2019.
The operator added:
The Virtual Currency Service Providers Act will come into full effect in the beginning of November 2019 creating a legal status for crypto assets, which should improve significantly Bitcoin’s standing as a viable and legit financial network.
TheFinnishParliament also voted to make an amendment to the Act on Detecting and Preventing Money Laundering and Terrorist Financing, ensuring providers of crypto-based services are subject to the country’sAnti-Money Laundering(AML ) laws.The new law brings Finland’s regulation in line with the new European Union’s (EU) 5th Anti-Money Laundering Directive (5AMLD).
Under the 5AMLD,crypto exchangesare mandated to report suspicious activity and perform know-your-customer reports. Financial investigators can also obtain the identity of traders at will. Irrespective of your username online, investigators can get your full name and obtain your home address. Lastly, all crypto-related businesses must be registered with the relevant financial authority in their country.
Read the full story on CCN.com. || Craig Wright’s Wife Nets Legal Victory in Quest to Reclaim Lost Bitcoin: Ramona Ang, the wife of self-described Bitcoin creator Craig Wright, secured a key legal victory in her case a gainst a Cypriot Bitcoin futures exchange. | Source: CoinGeek/YouTube By CCN : Craig Wright’s wife, Ramona Ang, sued a Cypriot futures exchange, UFX , for closing her account in August 2017 and effectively throwing a wet blanket on her investment goals. The exchange also refused to allow her to withdraw the funds she had used to invest in Bitcoin futures. UK Judge Rules Case Will Proceed in Britain bitcoin britain uk cryptocurrency crypto Judge Andrew Baker ruled that Ramona Ang’s case against Bitcoin futures exchange UFX may proceed. | Source: Shutterstock UFX argued that the British court has no jurisdiction over the case since the account closure was based on their terms of service. In an extremely lengthy ruling, British judge Andrew Baker ruled against UFX , allowing the case to proceed. The ruling is extremely complex, but it details the nature of Ms. Ang’s history with UFX. It states that she also used eToro and IG.com. The gist of her case against UFX is that they closed her account for apparent ToS violations but never provably disclosed their terms of service to her. It seems important to note that Ang was trading on behalf of herself, as Baker writes: “Indeed, the description Ms Ang gave in her evidence of what the role entailed would be fit to serve as an outline job description for a part-time PA were her husband seeking to recruit one as paid help. It does not involve Bitcoin trading on behalf of her husband or the provision of foreign exchange or other financial services to him or anyone else as any kind of ‘client’.” UFX cited multiple reasons for closing her account. As previously noted, it seems part of the case revolves around her marriage to Bitcoin SV creator Craig Wright . Read the full story on CCN.com . || BTC/USD Surges To New 2019 High; Altcoins React: The intraday charts show BTC/USD rising 6.2% to trade highs of $5,795.46. Bitcoin is predicted to hit $6,000 in less than two months. It is another awesome day in the lives of the cryptocurrency investor. The market had dived towards the end of April but we can see May waking the bulls in an impressive way. Bitcoin ignited the gains on Friday. The intraday charts show BTC/USD rising 6.2% to trade highs of $5,795.46 before correction to the current value at $5,720. My prediction of a reversal due to the formation of a double top pattern at $5,600 earlier today was wrong as Bitcoin zoomed past this level to trade new 2019 highs. There is a progressing downtrend from the highs with the price sliding below $5,700. It is as though investors are rushing to take profits as the crypto escapes the crypt. Bitcoin has been predicted to hit $6,000 in less than two months while other experts believe that it will rise as far as $10,000 before the end of the year. Bitcoin explored lows close to $3,000 last year and the fact that it is trading above $5,600 is a key indicator that we are in a bullish phase. Therefore, this could be right time for investors to belt up for an impending parabolic rise towards the end of the year. Meanwhile is vital that support is established above $5,600 to avoid declines that could test the support congestion zone between $5,300 and $5,400. BTC/USD 1-hour chart may3-btc2-636924783759432114.png Image sourced from Pixabay See more from Benzinga ETH/USD Breaks 0 Hurdle; EMA100 Limiting The Upside XRP/USD Descending Channel Dwindles Bulls' Hope For A Reversal Bitcoin And Ethereum In The Green © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Cardano Falls 10% In Rout: Investing.com - Cardano was trading at $0.081726 by 07:29 (11:29 GMT) on the Investing.com Index on Monday, down 10.25% on the day. It was the largest one-day percentage loss since February 24.
The move downwards pushed Cardano's market cap down to $2.20094B, or 1.22% of the total cryptocurrency market cap. At its highest, Cardano's market cap was $23.91700B.
Cardano had traded in a range of $0.081726 to $0.091452 in the previous twenty-four hours.
Over the past seven days, Cardano has seen a rise in value, as it gained 21.26%. The volume of Cardano traded in the twenty-four hours to time of writing was $124.69965M or 0.20% of the total volume of all cryptocurrencies. It has traded in a range of $0.0706 to $0.0997 in the past 7 days.
At its current price, Cardano is still down 93.95% from its all-time high of $1.35 set on January 4, 2018.
Bitcoin was last at $5,082.6 on the Investing.com Index, down 0.84% on the day.
Ethereum was trading at $174.09 on the Investing.com Index, a gain of 3.69%.
Bitcoin's market cap was last at $91.72033B or 51.01% of the total cryptocurrency market cap, while Ethereum's market cap totaled $18.74992B or 10.43% of the total cryptocurrency market value.
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Crypto.com Chain (CRO) Price On Track to Repeat Record Levels
Goldman Sachs CEO Refutes Bank Ever Had Plans to Open Crypto Trading Desk || Binance wants crypto projects to migrate to its chain from Ethereum, and the firm’s massive trading business could help: Binance's quick rise has left other exchanges eating its dust, and now it is setting its sights on replacing one of the largest cryptocurrency networks.
Sources familiar with the situation tell The Block the Malta-based firm, led by the notorious Changpeng "CZ" Zhao, is trying to lure projects building on Ethereum to switch over to Binance's native blockchain, Binance Chain. Binance Chain is core to the firm's vision to become a decentralized platform for different cryptos to trade andwas announced in 2018. The firm, sources say, is hoping the appeal of listing on the platform will serve as an enticing incentive.
CZ has built what can only be described as a global crypto empire, facilitating the trading of hundreds of millions of dollars worth of crypto each day. And that empire, which traces its origins to 2017, has influence that touches just about every corner of the nascent market.
This week, that influence was on display when CZ announced the firm would delist Bitcoin SV, a coin tied to Craig Wright, who in recent months has caused a stir over legal threats he has made against people who say he's not the true Satoshi Nakamoto — something he's claimed for years. Following CZ's move, a number of other firms announced they would sever ties with the controversial crypto, including wallet provider Blockchain and fellow cryptocurrency exchange Kraken.
That influence trickles down to crypto projects as well. It's no surprise that a massive shop like Binance has just about every project drooling over a coveted Binance listing;a service the exchange says it does not profit from.
"Just given the size of Binance and its trading volume it is obviously a very influential exchange and we knew it would be very meaningful for PAX to be listed on Binance," a spokeswoman for Paxos, the company behind the stablecoin Pax, said in an interview with The Block. "It's like how the Impossible Meat Burger is now at Burger King — that's more meaningful than it being available at just some store."
"Being listed on Binance is especially important as it is a main liquidity center and the go-to exchange for most traders," JZZeppettini, who leads listings for crypto project Decred, told The Block.
Now it appears Binance is trying to leverage the influence it has on token teams to convince projects to migrate to Binance Chain. In one instance, an employee told a project that the firm could offer favorable terms if they made the switch; a move the firm ultimately ended up apologizing for.
"Well, let's just say that projects who move some % of their chain off of Ethereum to Binance Chain will get favorable treatment — and those that don't could be delisted if their volumes are less than $1M/day," the person said.
A spokeswoman from Binance did not respond to a message seeking comment.
To be sure, it's not unusual for exchanges in traditional markets to try to sell other aspects of the business during the listings process. Nasdaq, for instance, might try to tempt a company to utilize its investor relations software while gunning for its initial public offering.
Still, the episode points to what Binance could get away with — if some employees had their druthers. And it also hints to their long-term ambitions.
"Binance is trying to get everything onto their chain," said one crypto executive, who requested to speak anonymously.
"They've made this bet that violating the law will work because they are going to transition to being a totally decentralized chain," the person added, referring to the firm's strategy to bounce from jurisdiction to jurisdiction to avoid financial regulations. "To make that a success then they need to get everybody onto that chain. Interestingly, they've built their entire business around Ethereum. What is Binance without Ethereum?" || The Philippines’ Central Bank Has Already Legalized 10 Bitcoin Exchanges: Philippines is proving to be among the most progressive nations for cryptocurrencies like bitcoin. | Source: Sbutterstock According to local reports, the Bangko Sentral ng Pilipinas (BSP) has approved three crypto exchanges, bringing the total number of approved crypto exchanges to 10. The Manila Times reported : “Melchor Plabasan, officer-in-charge at the Technology Risk and Innovation Supervision Department of the central bank, said newly approved were Bexpress Inc., Coinville Phils. Inc., and ABA Global Phils. Inc.” As CCN reported in July 2018, the Cagayan Economic Zone Authority (CEZA), a government-operated economic zone in the northern tip of the Philippines, issued 24 licenses of its own to crypto exchanges, raising the count of licensed exchanges in the Philippines to 34. 1 Out of 10 Adults in the Philippines Use Crypto In recent years, the Philippines has grown into a powerhouse of a market for cryptocurrency businesses primarily due to favorable regulations and the rapid growth of local companies. Coins.ph, for instance, the biggest crypto exchange in Southeast Asia, is said to have 1 out of 10 adults in the Philippines as users, a statistic that convinced the leading ride-hailing app operator in Indonesia Go Jeb to acquire the company. Over five million @coinsph customers can now receive Western Union money transfers directly into their https://t.co/hoPBSc0Fv8 #wallets in the #Philippines . Learn more about the new service! — Western Union (@WesternUnion) April 8, 2019 Read the full story on CCN.com .
[Random Sample of Social Media Buzz (last 60 days)]
Tue May 14 10:10:08 2019 (18:44)
USD : 8184.72
Wght: 0.41
Blk#: 575978
Size: 1133.8 KB
TXs: 2504
Pool: 7108 (4.5 MB)
#bitcoin || Another hour! It's #WEALTHGENERATION TIME get HYIPPEPE at https://t.co/Tsw4BmYQ5h #bitcoin https://t.co/aMnuwg1146 || #CVT
Buy at #HitBTC-BTC and sell at #OKEx-BTC. Ratio: 8.24%
#bitcoin #arbitrage #arbitraj #arbingtool
https://t.co/xiFUPzcOcC || Malta Crypto Bank Hires Former Deutsche Bank Executive via /r/Bitcoin https://t.co/JrzakxBczm || $25 billion in Revenue China’s Second Largest Food Company Launches Products on VeChainThor Blockchain Solution - Today's Gazette - Cryptocurrency, Bitcoin, Ripple, Tron, Verge, Cardano News https://t.co/63kMlS1ENm || As the price of bitcoin continues to rise, many BTC faucets decreased their payouts.
Doge coin is an excellent alternative for a free faucet claiming. Here's one faucet that pays anywhere from 0.34 Ð to 94527 Ð per hourly roll.
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Wayne Static-Around The Turn
Live Now!
https://t.co/lb0kNeEQEP
#WayneStatic @OfficialStaticX #Live #XVG $XVG #Radio #Bitcoin #Stream || #BTC Proponents in the cryptocurrency industry have always made the effort to inform users and holders of coins about what is going on around them, in terms of ...Read more: https://t.co/Ppk2BeY6Cq || #QKC #Blockchain #BTC #ETH #blockchaintechnology #sharding || $GBTC $BTC-USD $XRP-USD - Bitcoin closes in on $7K https://t.co/hHlNzrPVwv
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Trend: up || Prices: 7963.33, 7680.07, 7881.85, 7987.37, 8052.54, 8673.22, 8805.78, 8719.96, 8659.49, 8319.47
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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)]
Cable & Wireless Preliminary Q2 2016/17 Results: MIAMI, FL--(Marketwired - Nov 4, 2016) -Cable & Wireless CommunicationsLimited ("CWC") is the leading telecommunications operator in substantially all of its consumer markets, which are predominantly located in the Caribbean and Latin America, providing entertainment, information and communication services to 3.5 million mobile, 0.4 million television, 0.6 million internet and 0.8 million 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 CWCOn May 16, 2016, a subsidiary of Liberty Global plc ("Liberty Global") acquired CWC (the "Liberty Global Transaction"). Revenue, Adjusted Segment EBITDA 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 six months ended September 30, 2016 ("Q2 2016/17") have also been aligned to Liberty Global's EU-IFRS accounting policies and estimates. Significant policy adjustments have been considered in our calculation of rebased growth rates for revenue and Adjusted Segment EBITDA.
Operating and financial highlights*:
• Delivered 9,000 organic RGU additions in Q2 2016/17
• Mobile revenue 2% lower than the prior year in Q2 2016/17, as compared to Q2 2015/16 on a rebased basis, due primarily to a decrease in the Bahamas
• Establishing Flow as a leading sports broadcaster in the CaribbeanSuccessful Olympics campaign with over 4.6 million viewers tuning into Flow channels85% increase in Flow Sports viewership in August versus May through July averageExclusive rights to broadcast Premier League commenced during the quarter
• Strengthened customer proposition in Panama through launch of MAST3R fixed bundles in SeptemberProviding HD, play from start, live pause and rewind functionality300 Mbps broadband product now available to 135,000 homes
• YTD revenue of $1,141 million, 2% lower YoY, on a rebased basis10% rebased top-line growth in Jamaica more than offset by declines in other major geographies primarily due to competitive and macroeconomic factors and lower managed services revenue
• Net losses of $18 million and $124 million in Q2 2016/17 and YTD, respectively
• YTD Adjusted Segment EBITDA of $411 million, up 1.5% YoY, on a rebased basis$9 million (4%) sequential EBITDA improvement from Q1 2016/17 to Q2 2016/17, reflecting margin improvement of 200 basis points
• Property, equipment and intangible asset additions declined to 17% of revenue in Q2 2016/17 from 25% in Q2 2015/16
• BTC in the Bahamas suffered significant infrastructure damage and business interruption as a result of Hurricane Matthew during early October 2016Anticipate Q3 2016/17 adverse Adjusted Segment EBITDA impact of $8 million to $12 millionTotal infrastructure repair costs estimated at $35 million to $45 millionWe expect that our third-party insurance will cover a significant portion of the hurricane-related losses
Synergies from combination with LiLAC
• LiLAC is targeting $150 million of synergies by December 31, 202050% OCF related -- primarily recurring cost reductions50% capital expenditure related -- recurring and nonrecurringAnticipate a substantial amount of total LiLAC synergies will benefit CWC
* The financial figures contained in this release are prepared in accordance with EU-IFRS.28CWC's financial condition and results of operations will be included in Liberty Global's condensed consolidated financial statements under U.S. GAAP10. There are significant differences between the U.S. GAAP and EU-IFRS presentations of our condensed consolidated financial statements.
Subscriber Statistics
We delivered organic subscriber growth across video, internet and telephony product categories in Q2 2016/17. In our mobile business, which represents roughly 40% of total revenue, postpaid subscriber growth was more than offset by a decline in our prepaid base, primarily due to the impact of competitive offers to lower value subscribers in Panama.
On the mobile front, we continue to invest in our networks to enable the delivery of high speed, resilient mobile services and leading converged products to our customers. We are actively expanding our LTE coverage in Panama and plan to launch LTE in the British Virgin Islands later this year.
Turning to our video, internet and telephony businesses, we added 9,000 organic RGUs during the quarter, as we achieved subscriber growth in each of our products. In terms of broadband internet, we added 7,000 organic subscribers on the back of 5,000 RGU additions in Jamaica and 2,000 RGU additions in Trinidad and Tobago. On the video front, we added 1,000 RGUs in the quarter, primarily driven by our DTH business in Panama. The increased RGUs from our DTH business were largely offset by declines in video RGUs in Barbados and Trinidad and Tobago as a result of increased competition.
During the quarter, our regional sports offering, led by Flow Sports and Flow Sports Premier, performed strongly, helping to establish Flow as a leading sports broadcaster in the Caribbean. Our official Olympic Games application was downloaded approximately 60,000 times during the event with over 73,000 hours of live content streamed. Flow Sports Premier, following its launch in July, also began providing unrivaled coverage of the Premier League in the region beginning in August 2016.
Rounding out fixed-line products, we added 1,000 telephony subscribers in the quarter, as we continued to modestly increase penetration of our VoIP-based services through bundling across our footprint.
At September 30, 2016, our bundling ratio stood at 1.51 RGUs per customer as 10% of our customers subscribed to a triple-play product, 32% to a double-play product, and 58% took only one product from us. This relatively low bundling ratio provides ample runway for RGU growth as we seek to sell additional products to our customers.
From a geographic standpoint, highlights of the trends in our largest markets are as follows:
• In Panama, mobile subscribers declined by 36,000 in the quarter on an organic basis with the decline weighted towards lower value customers as our postpaid base continued to grow (up 2,000). We are seeking to improve our fixed video and internet performance with our improved "Mast3r" bundles featuring HD, play from start, live pause and rewind functionality and 300 Mbps broadband speeds.
• In the Bahamas, we grew our mobile customer base by 4,000 subscribers (up 1%) due to increased promotional activity, successfully targeting higher-ARPU postpaid customers. We have made steady progress with our broadband internet and video products following the roll-out of our fiber-to-the-home ("FTTH") network, which now passes 14,000 homes.
• Turning to Jamaica, broadband internet and video RGUs were up 3% and 1%, respectively, as our improved product offering and strong Olympics campaign resonated well in the market. We grew our mobile subscriber base by 3,000 RGUs in the quarter, as we continued to win back market share and launched new products such as Flow Lend, an innovative solution enabling prepaid customers to request credit advances and earn rewards for prompt payment.
• In Barbados, competition drove RGUs lower across all products in the quarter. We are implementing changes to our bundling strategy and focusing on quickly migrating customers who are on legacy DSL services to our high-speed FTTH network.
• Rounding out our main operations, in Trinidad and Tobago we delivered 3,000 organic RGU additions, despite a tough macroeconomic environment and increased competition.
About C&W CommunicationsC&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 atwww.cwc.com, or follow C&W onLinkedIn,FacebookorTwitter.
About Liberty GlobalLiberty 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.
For more information, please visitwww.libertyglobal.com. || Yahoo Says Hacker Stole Data on At Least 500 Million Users: Yahoo on Thursday confirmed a massive data breach, in which it said a “state-sponsored” hacker broke into the internet company’s systems and stole personal information on at least 500 million users — the biggest such theft of user data from a single entity to date. The user-account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords and in some cases encrypted or unencrypted security questions and answers, according to Yahoo. The data was stolen from the company’s network in late 2014, Yahoo said, which did not provide an explanation for why it has taken two years to report the incident. It didn’t identify the country it believes was behind the attack. What the disclosure means for Verizon’s pending $4.8 billion deal to acquire the core web businesses of Yahoo is not immediately clear, but according to Verizon it was not apprised of the severity of the breach until this week. Verizon, in a statement, said it was notified of Yahoo’s security breach in the last two days. “We understand that Yahoo is conducting an active investigation of this matter, but we otherwise have limited information and understanding of the impact,” the telco said. “We will evaluate as the investigation continues through the lens of overall Verizon interests, including consumers, customers, shareholders and related communities. Until then, we are not in position to further comment.” The Yahoo announcement came after Vice’s Motherboard reported in August that a hacker known as “Peace,” who is believed to be a Russian cybercriminal, was advertising the sale of 200 million Yahoo user accounts in a black-market online forum for about $1,860 worth of Bitcoin. At the time, Yahoo said it was investigating the claims. Recode reported early Thursday that Yahoo was expected to confirm the data breach this week. Regardless of how it affects the outcome of Verizon’s planned acquisition, the enormous security breach will stand as a disastrous bookend to the tenure of CEO Marissa Mayer. Story continues Mayer, a former top Google exec hired four years ago to much fanfare, failed to turn around Yahoo’s core search and advertising business . Mayer and Yahoo’s board eventually bowed to investor pressure to sell its operating businesses (excluding its stakes in Alibaba Group and Yahoo Japan), and initiated an auction process earlier this year. Verizon emerged as the winning bidder in July and the telco has outlined plans to merge Yahoo’s web operations with AOL , which it acquired last year for $4.4 billion. In announcing the breach, Yahoo said it was working with law-enforcement officials on investigating the incident. According to the company, based on what it has learned so far, none of the stolen information included unprotected passwords, payment-card data, or bank-account information. “Yahoo is notifying potentially affected users and has taken steps to secure their accounts,” the company said. “These steps include invalidating unencrypted security questions and answers so that they cannot be used to access an account and asking potentially affected users to change their passwords. Yahoo is also recommending that users who haven’t changed their passwords since 2014 do so.” Security and legal experts said Yahoo’s costs associated with the attack could run into the tens of millions of dollars. The incident is likely to prompt class-action lawsuits and could even scuttle the Verizon acquisition. Given that the breach occurred in 2014 and Yahoo did not properly communicate or manage it, Verizon may seek to nullify or renegotiate the deal, said Corey Williams, senior director of products and marketing at security vendor Centrify. “This is less of a story about 500 million user accounts being stolen and more about how lax security and poor handling of incidents can impact the very existence of a company,” he said. Yahoo, which reaches some 1 billion users around the world, has posted a frequently asked questions document on its website about the breach. The company also is encouraging users to use Account Key , an authentication tool for its email app that associates a Yahoo account with a specific device to eliminate the need for a password. As part of responding to the incident, Yahoo has enlisted New York-based communications firm Joel Frank, which specializes in crisis PR. Related stories Verizon in Talks to Acquire Video Startup Vessel (Report) Snapchat Adds Verizon-Hearst's Complex to Discover Lineup Yahoo to Disclose Data Breach Affecting 200 Million or More Users (Report) Get more from Variety and Variety411 : Follow us on Twitter , Facebook , Newsletter || Mergers and Acquisitions Surge; MandA Funds Flat: There’s been another wave of headline-making mergers and acquisitions this year following a hot year for deals in 2015, the latest of which was the blockbuster $85 billion AT&T-Time Warner deal announced this week. If you are an ETF investor, does a pickup in M&A activity offer you any investment opportunity? In theory, yes. There are two ETFs in the market today that look to capitalize specifically on these types of corporate deals through long/short hedge-fundlike portfolios. They are: IQ Merger Arbitrage ETF (MNA) , $130 million in AUM ProShares Merger ETF (MRGR) , $5.4 million in AUM But the reality is that the pickup in M&A activity does not necessarily mean an uptick in the performance of these funds. Consider that, other than the AT&T-Time Warner deal, there have been some pretty notable ones recently, as Bloomberg reported : the British American Tobacco-Reynolds American $58 billion deal; the Qualcomm-NXP Semiconductors $46 billion deal; the Anheuser-Busch InBev bid to buy SABMiller for $100 billion; and talks of a “possible” CBS-Viacom $30 billion deal. And yet, here’s how these two ETFs have performed relative to the SPDR S&P 500 (SPY) this year—they have practically not gone anywhere: Chart courtesy of Stockcharts.com Flood Of Deals Don’t Boost Performance “Both ETFs seek to benefit from a merger arbitrage situation, where a stock will not trade as high as the terms of the deal, on risks the deal may not close as expected,” said Todd Rosenbluth, head of ETF research at S&P Global. “While M&A activity has picked up recently, these ETFs have lagged the S&P 500 index, as their performance is less tied to the traditional catalysts for U.S. equities.” In the case of the AT&T bid to acquire Time Warner, Time Warner stock traded at a “discount to the deal’s value” because investors aren’t sure this deal will actually close, Rosenbluth notes. This is where merger arbitrage opportunity lies, but also the challenge. It’s not easy to predict where the next big deal is going to happen, and when the news is made public, the potential to capture outsized premiums tends to diminish. Story continues How MNA Works MNA tracks an index that takes long positions in firms that are acquisition targets, and shorts broad equity indexes to manage downside risk associated with the deals. Any money left over is tied to short-term bonds. The design is meant to capture any premium associated with the companies being acquired, much like a hedge fund would do. The long side of the portfolio weights deals based on liquidity—on average dollars traded—of a company. The short side of the portfolio can represent as much as 40% at times. One of the main risks associated with this strategy is that a deal can be broken, and when that happens, stock prices of the target companies tend to drop. In the case of MNA, stocks aren’t removed immediately from the portfolio if that happens—they stay on until the next monthly rebalance. That can impact returns. Bonds Top Allocation Right now, the portfolio’s largest single allocation is to short-term bonds in the form of a 19% allocation to the SPDR Barclays 1-3 Month T-Bill (BIL ) and a 6.3% allocation to the iShares Short Treasury Bond (SHV) —that’s roughly a quarter of the portfolio. These ETFs are in the black year-to-date, but not by much. They have each returned less than 1% so far in 2016. Leading individual companies with a 9.6% weighting is LinkedIn, followed by St. Jude Medical and Rackspace—all takeover targets. On the short side of the portfolio, the largest weighting is to a few sector ETFs. The Healthcare Select Sector SPDR (XLV) and the Energy Select Sector SPDR (XLE) are at a combined weighting of about -10%. XLV’s share price is down this year, but XLE has rallied more than 16%. MRGR Similar Build MRGR, launched in 2012, goes head to head with MNA and is built in much the same way. The fund is vastly smaller, however, having gathered only about $5.5 million in assets in four years. MRGR longs stocks of companies that are the targets of acquisition, and it shorts the acquiring firms, with the goal of capturing the spread between the two. The fund also has a currency-hedge component given that it’s global in scope. The underlying index in this strategy usually comprises about 40 announced deals. Among the fund’s largest single company holdings right now are names such as Yadkin Financial, Starz and Valspar Corp. Perhaps due to a positive stock market, or to low interest rates, or to companies’ need to grow through acquisition, or to all of the above, M&A deals continue to pop up as the year-end nears. Some even say that the massive AT&T/Time Warner deal “could potentially trigger another M&A wave due to the strategic merits of vertical integration,” according to Rosenbluth. These funds offer a direct vector for ETF investors to tap into the deals themselves, but it’s important to remember that more and bigger M&A deals don’t necessarily translate into more and bigger returns in these hedge-fundlike ETFs. Contact Cinthia Murphy at cmurphy@etf.com Recommended Stories Top ETF Picks For 2017 Core Stock & Bond Portfolios Need New Look Mergers & Acquisitions Surge; M&A Funds Flat SEC Wants To Hear From You On Bitcoin ETF S&P 500: The Best Crowdsourcing Tool Permalink | © Copyright 2016 ETF.com. All rights reserved || 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) || Bitcoin is money, U.S. judge says in case tied to JPMorgan hack: By Jonathan Stempel NEW YORK (Reuters) - Bitcoin qualifies as money, a federal judge ruled on Monday, in a decision linked to a criminal case over hacking attacks against JPMorgan Chase & Co and other companies. U.S. District Judge Alison Nathan in Manhattan rejected a bid by Anthony Murgio to dismiss two charges related to his alleged operation of Coin.mx, which prosecutors have called an unlicensed bitcoin exchange. Murgio had argued that bitcoin did not qualify as "funds" under the federal law prohibiting the operation of unlicensed money transmitting businesses. But the judge, like her colleague Jed Rakoff in an unrelated 2014 case, said the virtual currency met that definition. "Bitcoins are funds within the plain meaning of that term," Nathan wrote. "Bitcoins can be accepted as a payment for goods and services or bought directly from an exchange with a bank account. They therefore function as pecuniary resources and are used as a medium of exchange and a means of payment." The decision did not address six other criminal counts that Murgio faces, Nathan wrote. Brian Klein, a lawyer for Murgio, said he disagreed with the decision. "Anthony Murgio maintains his innocence and looks forward to clearing his name at his upcoming trial," he added. Prosecutors last year charged Murgio over the operation of Coin.mx, and in April charged his father Michael with participating in bribery aimed at supporting it. Authorities have said Coin.mx was owned by Gery Shalon, an Israeli man who, along with two others, was charged with running a sprawling computer hacking and fraud scheme targeting a dozen companies, including JPMorgan, and exposing personal data of more than 100 million people. That alleged scheme generated hundreds of millions of dollars of profit through pumping up stock prices, online casinos, money laundering and other illegal activity, prosecutors have said. Shalon has pleaded not guilty, and is being held at the Metropolitan Correctional Center in Manhattan. He hired new lawyers last month and is seeking permission to replace lawyers who joined the case in June, a Monday court filing showed. The case is U.S. v Murgio et al, U.S. District Court, Southern District of New York, No. 15-cr-00769. (Reporting by Jonathan Stempel in New York; Editing by David Gregorio and Diane Craft) || 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. || Indian bitcoin company raises $1.5 million from U.S., Indian investors: NEW YORK (Reuters) - Unocoin, a Bangalore-based bitcoin startup, has raised $1.5 million in funding from a mix of Indian and U.S. investors, the company announced on Thursday. The company, which runs a trading platform to buy, sell, and store bitcoins for Indian customers, said the money raised was the largest for an Indian bitcoin startup. Unocoin, which has 100,000 users and more than 30 employees, has been in operation since December 2013. Unocoin describes itself as the Coinbase of India. San Francisco-based Coinbase is the largest U.S. bitcoin company and runs an exchange and a wallet service, among other businesses. Funding came from Indian entities such as Blume Ventures, Mumbai Angels and ah! Ventures along with U.S. investors such as Digital Currency Group, Boost VC, Bank to the Future, and FundersClub. Digital Currency Group was founded by one of the top U.S. bitcoin investors Barry Silbert, while Boost VC is run by U.S.-based Adam Draper, the son of billionaire entrepreneur Tim Draper. "We needed a separate exchange for India. A few years ago when we wanted to buy bitcoin, there was nothing available in India," Sunny Ray, Unocoin's co-founder and president told Reuters in an interview. "So if you want to buy bitcoin from an international exchange, you will have to do a wire transfer from India to these international exchanges and get your bitcoin and oftentimes it takes three to five days." Unocoin raised about $200,000 in its first financing round. It started from a small hometown called Tumkur, near Bengaluru. Bitcoin, a digital currency, was trading at $604.50 (BTC=BTSP) on the Bitstamp platform. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Lisa Shumaker) || 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.
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) || Traders debate buying pullback in Intel after earnings: The " Fast Money " traders debated whether to jump on a dip in Intel ( INTC ) after the company gave current-quarter guidance that slightly missed Wall Street expectations. Trader Guy Adami said Intel slightly lowered its gross margins guidance, which he found "potentially concerning." Trader Pete Najarian said he would be a buyer of Intel shares, as the stock fell more than 5 percent in extended trading on Tuesday. Trader Brian Kelly said he's concerned about Nvidia ( NVDA ) , another semiconductor stock, and would be taking profits off the table in the company. He also said he would buy Intel. Disclosures: PETE NAJARIAN Long stock: AAPL, BAC, DIS, DISCA, GE, KMI, KMIA, KO, LUX, MRK, PEP, PFE CALLS: AAL, ABT, AMD, ATVI, BABA, BAC, BBY, BHI, BSX, CNX, COP, COTY, CRM, CS, CSCO, CXW, DAL, DISH, ECA, ETP, GM, GS, HAL, INTC, JBLU, JCP, KBE, KGC, KMI, KO, LLY, LOW, M, MOS, MRO, MRVL, MUR, NAV, NBR, P, RIO, SBUX, SLV, TMUS, TTS, TV, TWTR, VRX, WFT, WLL, XLF and puts: CLF, EEM, MBLY, WFC 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 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 BRIAN KELLY Brian Kelly is long Bitcoin, SLV and Silver Futures, 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. More From CNBC Top News and Analysis Latest News Video Personal Finance || Bitcoin is money, U.S. judge says in case tied to JPMorgan hack: By Jonathan Stempel NEW YORK (Reuters) - Bitcoin qualifies as money, a federal judge ruled on Monday, in a decision linked to a criminal case over hacking attacks against JPMorgan Chase & Co and other companies. U.S. District Judge Alison Nathan in Manhattan rejected a bid by Anthony Murgio to dismiss two charges related to his alleged operation of Coin.mx, which prosecutors have called an unlicensed bitcoin exchange. Murgio had argued that bitcoin did not qualify as "funds" under the federal law prohibiting the operation of unlicensed money transmitting businesses. But the judge, like her colleague Jed Rakoff in an unrelated 2014 case, said the virtual currency met that definition. "Bitcoins are funds within the plain meaning of that term," Nathan wrote. "Bitcoins can be accepted as a payment for goods and services or bought directly from an exchange with a bank account. They therefore function as pecuniary resources and are used as a medium of exchange and a means of payment." The decision did not address six other criminal counts that Murgio faces, Nathan wrote. Brian Klein, a lawyer for Murgio, said he disagreed with the decision. "Anthony Murgio maintains his innocence and looks forward to clearing his name at his upcoming trial," he added. Prosecutors last year charged Murgio over the operation of Coin.mx, and in April charged his father Michael with participating in bribery aimed at supporting it. Authorities have said Coin.mx was owned by Gery Shalon, an Israeli man who, along with two others, was charged with running a sprawling computer hacking and fraud scheme targeting a dozen companies, including JPMorgan, and exposing personal data of more than 100 million people. That alleged scheme generated hundreds of millions of dollars of profit through pumping up stock prices, online casinos, money laundering and other illegal activity, prosecutors have said. Shalon has pleaded not guilty, and is being held at the Metropolitan Correctional Center in Manhattan. He hired new lawyers last month and is seeking permission to replace lawyers who joined the case in June, a Monday court filing showed. The case is U.S. v Murgio et al, U.S. District Court, Southern District of New York, No. 15-cr-00769. (Reporting by Jonathan Stempel in New York; Editing by David Gregorio and Diane Craft)
[Random Sample of Social Media Buzz (last 60 days)]
#Triangles #TRI $0.158060 (2.23%) 0.00025000 BTC (-0.00%) || #btc PSA: (not asking for help) Sent 150.00 $ worth of bitcoin to cryptsy address: Backgroun... http://bit.ly/2cVb6Vh #bitcoin #crypto || 1 #bitcoin = $15200.00 MXN | $737.86 USD #BitAPeso 1 USD = 20.6MXN http://www.bitapeso.com || Bitfinex to Hacker: Can We Have Our Bitcoin Back? http://bit.ly/2eCmLqG #blockchain #bitcoin || Decentralized Sports Platform FirstBlood Raises 465,312.00 ETH, Set To Improve eSports: ... http://cur.lv/12p4dl #Gold #Bitcoin #News || #bitcoin #miner Bitmain Antminer S7 - 4.7 TH/sec Unit 3 $350.00 http://ift.tt/2d3Dz8W pic.twitter.com/tQTFfvMYhN || 1 KOBO = 0.00000450 BTC
= 0.0032 USD
= 0.9744 NGN
= 0.0444 ZAR
= 0.3243 KES
#Kobocoin 2016-10-29 10:00 pic.twitter.com/LSZfR93NGM || 1 #BTC (#Bitcoin) quotes:
$722.73/$723.91 #Bitstamp
$715.48/$716.00 #BTCe
⇢$-8.43/$-6.73
$719.46/$727.39 #Coinbase
⇢$-4.45/$4.66 || One Bitcoin now worth $635.30@bitstamp. High $637.00. Low $630.00. Market Cap $10.118 Billion #bitcoin || $607.11 at 11:30 UTC [24h Range: $603.00 - $608.99 Volume: 2590 BTC]
|
Trend: up || Prices: 702.03, 705.02, 711.62, 744.20, 740.98, 751.59, 751.62, 731.03, 739.25, 751.35
|
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 2019-04-02]
BTC Price: 4879.88, BTC RSI: 87.34
Gold Price: 1290.00, Gold RSI: 43.61
Oil Price: 62.58, Oil RSI: 73.55
[Random Sample of News (last 60 days)]
Bitcoin – The Bulls Bring $4,000 Levels into Range: Bitcoin gained 1.61% on Sunday. Following on from a 0.17% increase from Saturday, Bitcoin ended the day at $3,735.5.
Rising from a start of a day intraday low $3,655, Bitcoin struck a late morning intraday high $3,790 before hitting reverse. The morning spike saw Bitcoin break through the first major resistance level at $3,714.07 and second major resistance level at $3,751.73.
A late morning pullback to sub-$3,700 levels left Bitcoin range-bound through the afternoon. Support from the broader market kicked in late in the day, with Bitcoin moving back into positive territory and $3,700 levels by the day’s end.
For the bulls, it was the first hold onto $3,700 levels since the previous Sunday and the first run at $3,800 levels since 9thFebruary’s day high $3,800.
For the week, a 3rdconsecutive day in the green left Bitcoin down by just 0.33%.
Across the top 10 cryptos, it was green across the board. Ethereum led the way on the day, surging by 8.88% to end the day at $132.34. EOS came in a distant second with a 3.33% rise.
For the week, however, it was a mixed bag. The Sunday rebound gave Ethereum a 6.79% gain for the week, well ahead of the rest of the pack. EOS gained 1.17% off the back of Sunday’s rally to come in 2ndfor the week. The only other major in the green was Binance.
Leading the way down was Tron’s TRX, which slid by 7.19%. Litecoin also saw heavy losses, down 6.6% for the week, the losses coming in spite of 3 consecutive days in the green.
For Ethereum, the gains came in spite of a particularly disappointing start to the year on the ICO front. According toIcodata, just $51.13m has been raised year-to-date. The lack of activity is in sharp contrast to the beginning of last year, where a whopping $1,455.5m had been raised within the first 2-months of the year.
The bearish sentiment and regulatory uncertainty have certainly contributed to the downward trend through last year and the early part of this year. There will be hopes of a pickup in activity as the year progresses and the regulatory uncertainty is addressed, though much will depend upon market performance in the coming months.
Ethereum could face significant pressure should the ICO market fail to rebound and then there are the likes of Binance to also consider, which is looking to take a piece of the ICO pie.
Get Into Cryptocurrency Trading Today
At the time of writing, Bitcoin was up by 1.76% to $3,801.1. A bullish start to the day saw Bitcoin rally from a morning low $3,723.6 to a morning high $3,863.0 before easing back.
The early bounce saw Bitcoin break through the first major resistance level at $3,798.67 to come up against the second major resistance level at $3,861.83.
Bitcoin would need to hold onto $3,800 levels to support another run at the second major resistance level at $3,861.83. Support from the broader market could see Bitcoin break through to $3,900 levels later in the day.
While the bulls will be eyeing $4,000 levels, we would expect Bitcoin to come up short on the day, some profit taking likely to pin Bitcoin back from a rally of old…
Failure to hold onto $3,800 levels could see Bitcoin give up the morning gains. A fall through $3,730 would bring sub-$3,700 levels and the first major support level at $3,663.67 into play. Barring a broad-based crypto sell-off, we would expect Bitcoin to steer clear of sub-$3,700 levels, however, with the bulls having returned to the market over the weekend.
Thisarticlewas originally posted on FX Empire
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• USD/JPY Fundamental Weekly Forecast – Will Rising Treasury Yields Boost Demand for Dollar? || One Trader is Forecasting Bitcoin Price to Sink Near $2,000 Before the Bulls Take Over: Bitcoin, bitcoin price In the last 24 hours, the valuation of the crypto market slightly recovered from $100 billion to $102 billion while the Bitcoin price declined below $3,400. In a span of two days, the price of BTC fell from $3,445 to $3,377 by around 2 percent against the U.S. dollar. Chart via TradingView Based on the lack of momentum in the price trend of the dominant cryptocurrency, traders expect the market to face more bloodbath before engaging in a strong recovery. Read the full story on CCN.com . || Gold Prices Prediction – Prices Head Lower on PM May Announcement: Gold prices whipsawed on Wednesday, first rising following a lower than expected US trade deficit and then declining following news that Theresa May told a private group that she would step down if the Brexit withdrawal deal passed in the House of Commons. Technical Analysis Gold prices moved lower on Wednesday, initially moving higher and then facing selling pressure. Prices made a lower high and a lower low which is a sign of a downtrend. Support is seen near the 10-day moving average at 1,309 and the 50-day moving average at 1,308. Resistance is seen near the March highs at 1,324. Momentum is turning negative as the fast stochastic generated a crossover sell signal in overbought territory which is a sign of accelerating negative momentum. Medium term positive momentum is decelerating as the MACD (moving average convergence divergence) is printing in the black with a declining trajectory which points to consolidation. PM May Said She Will Step Down If Withdrawal Bill is Passed British Prime Minister Theresa May told a private meeting of her own Conservative Party lawmakers that she would resign if the withdrawal deal passed in the House of Commons. She would then begin the process of handing over to a successor. She didn’t lay out a timetable for a change of leadership. May said that she believes that the UK is in the second stage of Brexit negotiations and will not stand in the way. Conservative lawmaker Simon Hart said the prime minister told the private group she would stand aside and trigger an orderly succession only if her Brexit deal is passed. Mrs. May’s announcement increases the likelihood that her Brexit deal would succeed if it is put to a vote for the third time. The vote needs to take place before the end of March, to allow for enough time to meet the April deadline set by the EU. This news follows a one day period where the British House of Commons took control of Brexit away from the Prime Minister for just one day. Story continues This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Price Forecast – Australian dollar rolls over USD/CAD Daily Price Forecast – US Dollar Moved Back Towards Weekly Highs Bitcoin And Ethereum Daily Price Forecast – Market On Path For Yet Another Dead Cat Bound Forex Daily Recap – The Kiwi Plummets Drastically As RBNZ Alluded Of An Imminent Rate Cut Soon E-mini S&P 500 Index (ES) Futures Technical Analysis – Strengthens Over 2796.25, Weakens Under 2779.75 GBP/JPY Price Forecast – British pound shows resiliency against yen || Crypto Tumble as Market Cap Loses $12 Billion: Investing.com - Top cryptocurrencies saw their values suddenly tumble on Monday in Asia, recording double-digit losses after they seemingly picked up momentum last week. Market capitalisation shed $12 billion over the weekend. Bitcoin lost 9.23% to $3,819.5 by 12:21 AM ET (5:21 GMT). Ethereum plunged 17.44% to $139.79, XRP dived 12.15% to $0.30308, and Litecoin dropped 17.08% to $44.911. The crypto market cap dropped sharply from $141 billion last Saturday to $129 billion on Monday. But the market tumble has not deterred Japanese corporations from tapping into the crypto space. On Monday, Japanese financial giant Mizuho was said to be launching its new digital token J-Coin to offer cashless transactions. The firm is now reportedly working with around 60 financial partners to launch the digital token that will link existing bank accounts to new J-Coin wallets. Users will be able to make payments with their smartphones. Japanese news outlet Nikkei Asian Review said the platform is to launch on Friday. While Japan is keen to spearhead its crypto development, Korean regulators are still looking for cues from the U.S. about whether it plans to take further actions to regulate crypto assets. Speaking to The Korea Herald on condition of anonymity last week, an official of Korea Exchange said the bourse will see if U.S. regulators will greenlight Bitcoin exchange-traded funds (ETFs). “The U.S. has been the front-runner on the cryptocurrency market and related derivatives, and there are strong voices supporting the launch of Bitcoin ETFs within the market — which is why we are observing the progress and response of the U.S. [SEC]’s decision on Bitcoin ETFs,” the official said. The Korean bourse is looking into the feasibility of a Bitcoin index. The official was quoted saying that such ETFs “would eventually concern investor protection issues.” In other news, Russian financial outlet Rambler reported that the Russian State Duma is going to review and adopt new crypto regulations next month. The country ’s former Energy Minister Igor Yusufov also proposed an oil-backed digital token. Story continues “Perhaps the oil-backed cryptocurrency will be the pioneering project that will create a reliable structure for the cryptographic market as a whole,” Yusufov told Rambler. Related Articles Crypto Up Despite Calls for Regulations Bitcoin Rises; Swiss Bank Julius Baer Enters Crypto Market Crypto Down; Nasdaq Adds Bitcoin and Ethereum Indices || Dow Futures Jump on Trade War Deja Vu While Bitcoin Price Crashes to $3,670: The Dow received yet another boost from a report that the US and China are on the verge of a new trade deal. | Source: AP Photo / Richard Drew By CCN.com : The US stock market is primed to jump higher on Monday after increased optimism over the state of the US-China trade negotiations caused Dow futures to leap nearly 100 points. The bitcoin price, however, continues to bleed lower in the wake of its failed attempt to clear a key resistance level. Dow Futures Climb Nearly 100 Points after Snapping Winning Streak As of 8:47 am ET, Dow Jones Industrial Average futures had bounced by 94 points or 0.36 percent, implying a rise of around 100 points at the opening bell. S&P 500 and Nasdaq futures also traded up, with the former gaining 0.34 percent and the tech-heavy Nasdaq jumping 0.56 percent. dow jones futures Dow futures climbed on Monday morning. | Source: Yahoo Finance On Friday, the Dow recovered from early-week losses to rise by 110.32 points or 0.43 percent to close at 26,026.32. However, the end-of-week rally was not enough to rescue the index’s weekly winning streak, which ended at nine after the Dow failed to close above its Feb. 22 mark of 26,031.81. Nevertheless, sustaining the 26,000 level gave the bulls to cheer about, and the Dow wasn’t the only US stock market index to close above an important milestone. The S&P 500 edged past 2,800 before the bell after a 0.69 percent surge propelled it to 2,803.69. s&P 500 The S&P 500 closed above 2,800 for the first time since early November. | Source: Yahoo Finance Dubbed “the place where S&P 500 rallies go to die,” 2,800 had presented strong psychological and technical resistance for nearly four months. Before Mar. 1, the S&P 500 had not closed above that mark since Nov. 8, 2018. 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 || Bitcoin Accepted: Switzerland’s Biggest Online Retailer Enables Crypto Payments: The Digitec Galaxus Group, Switzerland’s first online retail store, announced today that its two web platforms would accept payments in cryptocurrencies. It concerns the popular bitcoin, but also half a dozen other cryptocurrencies, including ether, bitcoin cash, and litecoin.
Customers of Digitec and Galaxus,readthe announcement, will be able to pay for carts exceeding 200 francs through a third-party service, Coinify. The Denmark-startup would convert crypto payments to fiat in real-time, thereby protecting the merchants from cryptocurrencies’ notorious price volatility. That explains that Digitec and Galaxus will not hold cryptocurrencies themselves but would anyway enable users to spend them unobstructedly.
Oliver Herren, the chief innovation officer at the Digitec Galaxus Group, confirmed that their group was more into testing the crypto-integration than becoming its flagbearer.
“By using Coinify, we are not running into the knife,” hesaid, adding: “It is still not clear to me how blockchain is any better than other database technologies. The transactions are so far more expensive and slower than a normal payment method. Decentralization brings only cumbersome improvements. None of the blockchains scale enough. But maybe I have not invested enough time and therefore understand too little how the blockchain ecosystem works.”
Herren’s statement followed a 14-month long bearish correction phase in the cryptocurrency market, in which all the assets combinedly lost 1/3rd of their valuation. While it hasn’t deterred investors entirely, for they continue to see potential institutional adoption into crypto as a gateway to profits, the new lows have inevitably deflected merchant community from adopting cryptos as payments.
For instance, in June 2018, travel portal Expedia quietlydroppedbitcoin out of their checkout option. In March the same year, popular social media forum Redditstoppedaccepting the cryptocurrency for its gold membership plans. Payment platformStripedid the same in January 2018, calling bitcoin a killer app for ransomware not payments.
Read the full story on CCN.com. || Bitcoin Stuck Around $3,400 as the Stock Market Sees a Minor Downturn: Thursday, Feb. 7 — most of the top 20cryptocurrenciesare reporting slight to noteworthy gains on the day by press time, with Bitcoin (BTC) hovering just over $3,400 again, according toCoin360data.
Market visualization fromCoin360
At press time, Bitcoin is up a fraction of a percent on the day, trading at around$3,409, according to CoinMarketCap. Looking at its weekly chart, the current price is just over 1.5 percent lower than the price at which Bitcoin started the week.
Bitcoin 7-day price chart. Source:CoinMarketCap
According to TransactionFeedata, there haven’t been so many Bitcoin transactions per day — currently over 336,000 — since January 2018. However, the current transaction volume is still close to 20 percent lower than the all-time high of over 406,000 transactions per day, reported in December 2017.
Top altcoin Ripple (XRP) has gain the same modes amount as Bitcoin in the 24 hours to press time and is currently trading at around$0.293. On its weekly chart, the current price is over 5 percent lower than $0.308, the price at which XRP started the week.
Ripple 7-day price chart. Source:CoinMarketCap
Ethereum (ETH), the second-largest altcoin by market cap, has seen its value increase by just a quarter of a percent over the last 24 hours. At press time, ETH is trading around $104, after having started the day at $103. On the weekly chart, Ethereum’s current value has dropped 2.3 percent from $107, the price at which the coin started the week.
Ethereum 7-day price chart. Source:CoinMarketCap
Among the top 20 cryptocurrencies, the ones experiencing the most notable growth are NEM (XEM) — up 9.76 percent — Iota (MIOTA) — up 4.3 percent — and Ethereum Classic (ETC), up 3 percent on the day.
The stock market is seeing a minor downturn, with theS&P 500down 1.5 percent today andNasdaqdown 1.49 percent. The CBOE Volatility Index (VIX) on the other hand has gained 10.7 percent of its value on the day at press time.
As Cointelegraph recentlyreported, a recent analysis suggests that the growth recently reported by the stock market is a bull trap.
Major oil futures and indexes are seeing mixed market movements, with WTI Crude down 3.74 percent, Brent Crude down almost 3 percent. Mars US, on the other hand, is up 1.1 percent, Opec Basket up 0.4 percent and the Canadian Crude Index down 6.76 percent, according tooilprice.com.
InVenezuela, Bitcoin trading volumes havereacheda new all-time high on peer-to-peer exchange LocalBitcoins, amidst massive hyperinflation and an ongoing presidential crisis
Also today,news brokethat cryptocurrency investment and analysis firm Fundstrat Global Advisors warned that crypto markets could soon hit even lower lows and continue their record-long bear market.
• Bitcoin Falls Under $3,400 as Oil Futures See Mixed Movements
• Stock Market Sees Significant Growth, While Bitcoin Keeps Stability Over Past 7 Days
• Bitcoin Hovers Over the $3,450 Mark as Top Cryptos See Slight Losses
• Bitcoin Approaches $3,500 as Top Cryptos See Growth || Bitcoin Awaits Decisive Price Move as Trading Range Tightens: • Bitcoin’s retreat from highs near $3,900 seen yesterday has poured cold water over the bull moodgeneratedby Wednesday’s quick recovery from lows near $3,650. Therefore, the immediate outlook is neutral.
• A UTC close above $3,897 (previous day’s high) would validate Wednesday’s long-tailed candle and open the doors to re-test of the last week’s high of $3,190. This looks likely as early signs of bullish reversalhave emergedon longer duration charts.
• A break below $3,658 (Wednesday’s low) would strengthen the bearish viewput forwardby last Sunday’s high-volume sell-off and could yield a drop to $3,400.
Bitcoin has witnessed indecisive trading in the last 48 hours and would turn bullish again if prices rise above $3,897.
The crypto market leader jumped to a high of $3,897 yesterday, according to Bistamp data, having shown strength with a “V-shaped” recovery from lows near $3,650 on Wednesday.
That bullish follow-through, however, was short-lived with prices closing (UTC) largely unchanged on the day at $3,791.
Federal Reserve May Add Bitcoin Crash to Stress Test Scenarios
So, with buyers and sellers battling it out in the range of $3,650-$3,900, the immediate outlook is neutral.
The probability of bulls coming out victorious with a move above $3,900 is high, as the dip demand witnessed on Wednesday reinforced the high-volume bullish trianglebreakout, confirmed on Feb. 19. Also, so far, the follow-through to the pullback from yesterday’s high of $3,897 has been anything but bearish.
BTC is currently trading at $3,810 on Bitstamp, having snapped the record six-month losing streak with double-digit gains in February.
Bittrex Leads $1.5 Million Round for South African Crypto Exchange VALR
BTC created a candle with a long upper shadow yesterday, establishing $3,897 is a level to beat for the bulls in the short-term. A UTC close above that level would validate the “buy the dip” mentality signaled by Wednesdayâs long-tailed doji and open the doors to $4,190 (last weekâs high).
A bull breakout, however, may remain elusive, if prices find acceptance below $3,658 (Wednesdayâs low). That would put the focus back on the big bearish outside reversal candle carved out on Feb. 24 and possibly yield a deeper drop toward $3,400.
As seen above, the ascending 100-candle moving average (MA) has been limiting the downside since Feb. 24. The average is also holding above the 200-candle MA, meaning the trend is bullish.
The bullish case, however, would weaken if the 100-candle MA, currently at $3,778, is convincingly breached.
However, with the longer duration charts flashing early signs of a bullish reversal, as discussed earlier this week, the odds of BTC suffering deeper losses toward $3,400 appear low.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
Bitcoin image via Shutterstock;Âcharts byÂTrading View
• Bitcoin Price May Rise in March Despite Month’s Bearish Track Record
• Bitcoin Lightning Tech Expands Beyond Invoices in Step Toward Better UX || Crypto Markets See Bullish Growth, Asian Stock Markets Rally Ahead of US-China Trade Talk: Monday, Feb. 18: Crypto markets are seeing a bullish surge of green, with all of the top twenty cryptocurrencies seeing growth of between 2 and 12 percent, as data from Coin360 shows. Market visualization by Coin360 Market visualization by Coin360 Top cryptocurrency Bitcoin ( BTC ) has seen a solid 2.9 percent in growth on the day and is trading around $3,742 to press time, according to CoinMarketCap data, bringing Bitcoin to a 2.38 percent gain on the week. Bitcoin 7-day price chart Bitcoin 7-day price chart. Source: CoinMarketCap Ethereum ( ETH ) has seen the strongest 24-hour growth among the top 50 coins by market cap, rising close to 11 percent on the day to trade at roughly $137.65 to press time. The leading altcoin has seen consistent growth over its 7-day chart, which markedly accelerated this weekend, bringing its weekly gains to just over 13 percent. As of Feb. 17, the asset’s strong performance in recent days has brought its price point to above that of Bitcoin Cash ( BCH ). Ethereum 1-month price chart Ethereum 1-month price chart. Source: CoinMarketCap Ripple ( XRP ) is seeing milder growth on the day and is trading around $0.309 at press time. Up around 2.6 percent over the past 24 hours, the asset is up a mild 1.7 percent on the week. On the month, the asset has reported a loss of around 5.5 percent. Ripple 7-day price chart Ripple 7-day price chart. Source: CoinMarketCap Despite trading at a lower price point to Ethereum, Bitcoin Cash ( BCH ) — currently the sixth-largest crypto by market cap — has seen bullish growth on the day, and is trading at $130.22. Up 6.5 percent on the day, the altcoin is also 4.5 percent on the week. Strong 24-hour performances have also been seen by fifth-largest coin EOS (up over 3 percent), 10th ranked Binance Coin ( BNB ) (up 4.7 percent) and 9th largest crypto Stellar ( XLM ) (up 2.9 percent). Among the top twenty coins, Maker ( MKR ), ranked 16th, is up the most, gaining close to 9 percent to trade at $555.85. Cardano ( ADA ), privacy-focused coin Monero ( XMR ), and Bitcoin SV ( BSV ), have all seen solid gains of 4.6, 3 and 3.8 percent respectively. Story continues The total market capitalization of all cryptocurrencies is around $125.9 billion as of press time, up a strong 3.7 percent on the week. 7-day chart of the total market capitalization of all cryptocurrencies 7-day chart of the total market capitalization of all cryptocurrencies from CoinMarketCap In an interview with Cointelegraph this week, prominent CNBC commentator Brian Kelly argued that Bitcoin is currently around 50 percent undervalued, and that the asset is likely near a bottom. While holding back on optimism in regard to the approval of a Bitcoin exchange-traded fund, Kelly predicted that 2019 would be better for the crypto markets overall, conceding however that 2018 had set “a pretty low bar.” In adoption news, it appears that the forthcoming update of the Rakuten Pay mobile app from major Japanese e-commerce firm Rakuten will support cryptocurrency payments in addition to fiat. Major Asian stock markets are meanwhile seeing a strong performance in the context of ongoing United States-China trade talks , which are set to continue in Washington this week. For mainland China, the Shanghai composite is up 2.68 percent, with the Shenzhen composite is up 3.7 percent. Hong Kong’s Hang Seng index is meanwhile up 1.54 percent, with Japan’s Nikkei 225 index up 1.8 percent. Related Articles: EOS Sees Second Day of Growth as Crypto Markets, Stocks See Scant Price Action Most Cryptos See Gentle Green Amid Exceedingly Calm Market Picture Bitcoin Again Tests $4K Amidst Anticipation of US and China Trade Deal Finalization Crypto Markets Continue to See Mixed Signals, Dow Jones Up Over 360 Points
[Random Sample of Social Media Buzz (last 60 days)]
Feb 27, 2019 18:32:00 UTC | 3,835.20$ | 3,373.10€ | 2,883.20£ | #Bitcoin #btc pic.twitter.com/hnjJk3hdm2 || ツイート数の多かった仮想通貨
1位 $BTC 233 Tweets
2位 $TRX 95 Tweets
3位 $ETH 77 Tweets
4位 $XRP 59 Tweets
5位 $IOST 57 Tweets
2019-02-07 10:00 ～ 2019-02-07 10:59
COINTREND いまTwitterで話題の仮想通貨を探せ！
https://cointrend.jp/ || Just incase you missed our February #Lindacoin #newsletter, this shows the activity & #development of last month! Stay tuned for more exciting #updates!
#linda #blockchain #cryptocurrency #altcoin #news #LindaX @Battle7oken #tech #partnerships #btc #esports @MyStakingWallet #RPD https://t.co/h6EYekyvQU || 現在の1ビットコインあたりの値段は434,926.8884円です。値段の取得日時はMar 26, 2019 23:05:00 UTCです #bitcoin #ビットコイン || Jak korzystać z technik Fibonacciego w tradingu? Każdy poniedziałek z Fibonacci Team o 12:00 https://www.fiboteamschool.pl/jak-korzystac-z-technik-fibonacciego-w-tradingu/ … #forex #trading #kryptotrading #Bitcoin #AnalizaTechniczna || Total Market Cap: $137,823,113,608
1 BTC: $3,964.40
BTC Dominance: 50.67%
Update Time: 26-03-2019 - 08:00:07 (GMT+3) || #USDT #Tether #Crypto #Bitcoin #Moonberg #Moonbot #Exchange #Profit #Investing #Invest #Trading #Bot #News #Cryptonews https://t.co/Jgtj9nigtD || Is it just me or do they start to sound just like the banks did in the beginning of bitcoin? "It is centralised, but it has to be centralised for mass adoption".
But hey! No suprise there really. ⚡= 🏦. https://t.co/C4c8Cwc7yO https://t.co/4MwHzr9dNY || Name: Quant Network
Symbol: QNT
Volume 24hr: 2,015,945.64459
Marketcap: 34,689,897.7217
Percent Change 1hr: -0.19
Price: $3.48143 USD
URL: https://t.co/BpyD0Lw5c9
#crypto #bitcoin #adk #aidoskuneen || ₿ #BTCTRY #Bitcoin = 21.860,93 #TL Güncelleme Saati : 23:00
|
Trend: up || Prices: 4973.02, 4922.80, 5036.68, 5059.82, 5198.90, 5289.77, 5204.96, 5324.55, 5064.49, 5089.54
|
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 2015-06-19]
BTC Price: 244.61, BTC RSI: 62.19
Gold Price: 1201.50, Gold RSI: 56.72
Oil Price: 59.61, Oil RSI: 51.29
[Random Sample of News (last 60 days)]
Nxt: The Original Bitcoin 2.0 Platform With Smart Contracts, Decentralized Crowdfunding, Open Source and 18 Months Development: With over 18 months of development, The non-profit Nxt Foundation is pleased to announce many disruptive business and financial applications of Nxt's blockchain technology: including trustless smart contracts, decentralized crowdfunding, a strong open source ethos and more
AMSTERDAM, NETHERLANDS / ACCESSWIRE / May 14, 2015 /Nxt is different. While there are many players in the cryptocurrency 2.0 field, Nxt has several key elements that set it apart from the others.
First and foremost, Nxt is a self-sufficient system. Many other projects depend on a blockchain implemented and maintained by an external party, usually Bitcoin. Nxt is a complete and self-contained system in itself. As any business owner knows, being dependent on a third party for an essential part of their business model introduces unnecessary risk.
This is why Nxt chose not to piggyback on an external blockchain over which it has no control, but has built all of its features onto its own blockchain. This also means that Nxt developers can quickly and easily create new features while maintaining a coherent system, without needing to consult with an external blockchain provider.
Secondly, Nxt has a solid and secure track record. The Nxt blockchain has been in continuous operation and use for 18 months, proving to be a stable system that can scale to handle an increasing load. Additionally, new features have been added on an incremental release basis after thorough evaluation on Nxt’s testnet. Many applications have already been built on top of Nxt, using its diverse features to create decentralised companies and software and to leverage the benefits of its strong community and network.
Thirdly, Nxt is open source and free! Nxt is not under development by a central authority. This may at first appear to be a weakness, but a glance at the extremely successful operating system Linux shows that central development is not needed to create a valuable and working architecture. Nxt has seen fast and dedicated development since its inception and is continuing to evolve with the input of many talented coders. As there is no barrier to entry to the Nxt ecosystem, it is a perfect environment for blue-sky crypto developments.
Just plug it in
The Nxt Cryptocurrency platform is modular by design. Nxt uses a variety of different transaction types that can be combined to perform more complex functions. In order to take full advantage of Nxt’s versatility,its developers have created a plug-in systemthat allows people to build applications and to share them with other Nxt users.
The plug-in system will go live with the release of version 1.5 of the Nxt Reference Software (NRS), Nxt’s native client. This release will also introduce blockchain Voting and Enhanced Multisignature Transactions (Phasing) to the Nxt core functionality. Developers on the Nxt Testnet are already experimenting with use cases, such as a crowdfunding plug-in (https://www.youtube.com/watch?v=JBsKVJYbitY), an e-commerce plug-in (https://www.youtube.com/watch?v=a6lcrNh9AuI) and several others.
The plug-in system is an example of the philosophy of flexibility and versatility that is at the heart of Nxt.
What it means for Nxt users
Nxt is eminently suitable for both business and non-commercial use. All of Nxt’s features can be accessed separately or in combination, using a simple but comprehensive API structure (http://85.25.198.120:7876/test).
Nxt is fast, with an average block time of around 90 seconds. It is powerful, giving users access to such diverse features as asset creation and trading, separate currencies, data transfer and storage, blockchain voting and multisignature transactions.
Nxt is easy to build for, and those who want more information about how to use Nxt, or who need support on the more technical aspects of the Nxt systems, can contact the Nxt Foundation.
The Nxt Foundation (http://nxtfoundation.org/) is a non-profit organisation which can answer questions on Nxt, offer support, and connect businesses with the developers and advisors they need to take advantage of the unprecedented opportunities offered by the Nxt platform. Contact Nxt Foundation today atinfo@nxtfoundation.org.
For more information about us, please visithttp://nxt.org
Contact Info:
Name: Bas Wisselink, Nxt Foundation DirectorEmail:bas@nxtfoundation.orgOrganization: NXTPhone: +31 (0)6 13937762Video URL:https://vimeo.com/127270358
SOURCE:NXT || Wall Street momentum adds to year of bitcoin legitimacy: A top secret bitcoin startup called 21 Inc. finally disclosed its business plan this week and the strategy points to the many uses of the virtual digital currency beyond the obvious. With $116 million of backing from top tier venture capital firms and former Treasury Secretary Lawrence Summers signed on as a strategic advisor, 21's emergence is also further proof that bitcoin has rapidly moved from fodder for weirdo science fiction to the realm of real business tools. The New York Stock Exchange's announcement on Tuesday of its own bitcoin price index , one that could be used as the basis for all manner of derivative contracts, is yet another signal of bitcoin's usefulness to mainstream businesses. The well-funded startup says it has created a dedicated computer chip that can be added to smartphones, tablets or almost any other type of computing device to allow for the processing of bitcoin transactions and the creation of new bitcoins. The feature could also be incorporated into chips made by other companies to add the same functionality. Currently, that's the realm of high-powered (and high-priced) computer rigs known as bitcoin miners. Every time a bitcoin is traded from one person to another, the transaction is recorded in a digital logbook known as the blockchain. Mining computers crunch the encryption equations needed to verify each transaction and verify the listings in the blockchain. New bitcoins, each really just a unique string of digits, are generated via the same process, providing an economic incentive for the miners to verify all of the transactions. Adding the bitcoin mining capability to any consumer's portable computing device opens an intriguing array of new functionality. Because bitcoin mining generates new bitcoins, 21's chips create a small, new revenue stream for any device. That revenue could go toward subsidizing Internet access or paying for online services. It could also go to a phone manufacturer or mobile carrier. And if the idea catches on, more than a billion smartphone owners could be crunching bitcoin transaction data on the phones in their pockets as they go about their day. [ Get the Latest Market Data and News with the Yahoo Finance App ] But connecting each device to bitcoin's digital logbook of all transactions adds another set of interesting capabilities. Transactions added to the blockchain can include extra information which can't be altered or removed. That can provide a layer of security and verification that's hard to find on the Internet. It could also allow devices to authenticate themselves without resorting to the kinds of more expensive security networks used by corporations today. Many of these type of features can work no matter how much the price of a bitcoin rises or falls. The often-volatile price climbed over $1,000 in November 2013, only to plummet more than 75% over the next year. Bitcoins traded for about $234 each on Tuesday. 21 CEO Balaji Srinivasan emphasized that separation of price and function in a blog post on Monday . "At 21 we are less concerned with bitcoin as a financial instrument and more interested in bitcoin as a protocol — and particularly in the industrial uses of bitcoin enabled by embedded mining," he wrote. Of course, there's no guarantee that 21 will succeed. Its chips may turn out to be too expensive, too slow or otherwise flawed. And the revenue generated by the chips may turn out to be too meager to support any interesting initiatives. Still, the news of Summers and the New York Stock Exchange's involvement adds to the list of serious Wall Street players already backing bitcoin, including Goldman Sachs ( GS ) and the Nasdaq ( NDAQ ). The NYSE was already one of the backers of bitcoin exchange Coinbase. Goldman is backing digital wallet provider Circle while the Nasdaq recently announced plans to use the blockchain as a secure listing for private stock transactions. Again, all of these ventures could certainly fail or fall short. But it seems more likely that 2015 will be remembered as the year bitcoin got serious. || Mom launches company to cure daughter's fatal disorder: If your child was sick you would do everything in your power to make them feel better, right? Well, when Karen Aiach’s daughter, Ornella, was diagnosed with Sanfilippo Syndrome she went above and beyond what most parents would do.
Aiach explains the disease as “an awful neurological disease where the child will apparently develop normally up to a certain age, the age of two, and from that age start regressing from a cognitive standpoint and start entering into severe behavioral disorders.”
She adds the disease is fatal and those affected seldom see their 20th birthday.
So when her daughter was diagnosed with Sanfilippo, Aiach did what any parent would do, which is to try and fix it. While many would try in vain to find a cure, Aiach assembled a group of experts and created a company whose sole purpose was to end the horrible disease.
Get the Latest Market Data and News with the Yahoo Finance App
“Lysogenewas started in response to my daughter being diagnosed with that disease,” she says. “Facing the impossible and the unbelievable, I tried to react in a positive way and started discussing and meeting with researchers to find potential solutions to treat that disease and we eventually came altogether with a very promising approach which is gene therapy.”
Gene therapy is a process in which doctors introduce a kind of virus into the patient that carries specialized genes meant to replace missing or broken genes in the cells of a given patient.
Lysogene has completed what is called a “Phase I/II trial” in France with promising results that prove the therapy is safe and show encouraging signs of efficacy in treating the disease.
The next step is to start a Phase II/III clinical trial of its treatment beginning in 2016, using what is called LYS-SAF302 gene therapy. The trials will be conducted both in the United States and Europe. Pre-clinical trials used in Sanfilippo-infected mice show the potential to stop the course of the disease and extend their lifespan close to normal.
If all goes well Lysogene hopes for market approval for the therapy sometime in 2019-2020.
Aiach is content knowing her work could one day help thousands of children afflicted with the condition. As for Ornella, she says, “We have done the maximum that we could do and so we are all very proud of that, I think. And when Ornella looks at me I’m sure she has a tremendous amount of love and recognition because thanks to that experimental treatment we’ve helped her to live better and to have a better quality of life.”
More from Yahoo FinanceBudweiser's 'no' must go: social media
Bitcoin goes mainstream with Goldman Sachs' backing
Uber now drops off food, not just people || 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 || New York regulator issues final virtual currency rules: By Karen Freifeld and Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - New York state issued on Wednesday extensive new rules for companies that operate in virtual currencies such as bitcoin but did little to accommodate complaints that overly tight regulation could hamper the nascent industry.
The new rules, the first by a state, create comprehensive guidelines for regulating digital currency firms, according to the state's Department of Financial Services, which developed the regulations.
It means that digital currency companies operating in New York state that hold customer funds and exchange virtual currencies for dollars or other currencies are required to apply for what is known as a state "BitLicense."
"There is a basic bargain that when a financial company is entrusted with safeguarding customer funds and receives a license from the state to do so, it accepts the need for heightened regulatory scrutiny to help ensure that a consumer's money does not just disappear into a black hole," Benjamin Lawsky, superintendent of the New York state regulator, said in a speech Wednesday at the BITS Emerging Payments Forum in Washington.
The "BitLicense" rules include consumer protection, anti-money laundering and cybersecurity protections.
The regulations come as digital currencies have drawn criticism for attracting drug dealers and other criminal elements, while failing to safeguarding consumer funds.
Last year, bitcoin exchange Mt. Gox collapsed after it claimed to have lost $500 million worth of customer bitcoins after being hacked.
Overall, industry participants said New York's new rules are still problematic but nonetheless an improvement over the original proposals laid out in July and revised in December.
Digital currency companies are required to obtain prior approval for material changes to their products or business models, such as wallet firms offering exchange services. They would also need approval for new controlling investors.
But they would not need approval from the state for every round of venture capital funding or standard software updates.
"We have no interest in micro-managing minor app updates. We're not Apple," said Lawsky.
Companies that want both a BitLicense and a money transmitter license can work with the state regulator to have a "one-stop" application submission to cover the requirements for both.
Jerry Brito, executive director of non-profit research group Coin Center, called the final regulations "far from perfect," specifically citing what he said were vague state-level anti-money laundering obligations that go beyond federal regulations.
He said the group was working with other states "to ensure they do not repeat the mistakes made here."
The rules do not apply to software developers, individual users, customer loyalty programs, gift cards, currency miners, or merchants accepting bitcoin as payment.
Lawsky, meanwhile, has come under fire from the bitcoin community for issuing the rules shortly after announcing he was leaving the agency to set up a consulting company that will advise companies on financial matters that could possibly include digital currencies.
The most prominent virtual currency now is bitcoin, often used as an investment or to pay for goods and services online.
Bitcoin prices have been steady of late, at $225.77 on the BitStamp platform on Wednesday. The price rose as high as $1,123 in December 2013.
"I think (the rules) are going to increase the costs to entry for businesses," said New York attorney Reuben Grinberg, who specializes in virtual currency. "But I think it's going to give consumers greater peace of mind and will end up promoting investment in this area much more so than it hurts."
(Reporting by Gertrude Chavez-Dreyfuss and Karen Freifeld; Editing by Chizu Nomiyama and Steve Orlofsky) || 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 atwww.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 Corp838 West Hastings Street, Suite 300Vancouver, BC V6C-0A6CanadaTel: +1(604) 200-0071Fax: +1(604) 200-0072www.bitxfin.com
Media inquiries:
Bit-X Financial Corppress@bitxfin.com
SOURCE:Bit-X Financial Corp || Daily Roundup: Setting up a 100-inch projector, 'Rock Band 4' news and more!: Welcome to the Daily Roundup. What is it like to setup a 100-inch projector inside your apartment? Meanwhile,Rock Band 4will be co-published by a hardware company and a Darknet-shopping bot was finally released after getting caught purchasing drugs. All the stories and more can be found below.
You could call me a bit of a movie fan. I own hundreds of Blu-rays and DVDs, see an obscene amount of movies in theaters and have been podcasting about my obsessive media habits for the past eight years. Movies aren't just mindless fun for me: they're a way of life, a religion. So it was only a matter of time until my 50-inch plasma HDTV started to feel too small and the siren song of an in-home projector came calling.
Rock Bandcreator Harmonix is bringing a roadie along for this year's release ofRock Band 4-- Mad Catz, the peripheral manufacturer, which will co-publish the game on Xbox One and PlayStation 4. Mad Catz is in charge of making all of the wireless instruments inRock Band 4, but as a co-publisher the company will also lead global sales, promotions and distribution, Global PR Director Alex Verrey says.
After spending a couple months in Swiss robot prison, the Random Darknet Shopper (RDS) is once again free to purchase random goods from the deepest corners of the Internet. The robot, originally designed as an art installation, was built to navigate the Darknet and autonomously purchase goods using Bitcoin currency. During its three-month run at Kunst Halle St Gallen art gallery in St. Gallen, Switzerland, the Shopper made a variety of purchases, most of which were completely legal.
Almost every website with comments suffers from trolls, people who like to spout obnoxious and irrational gibberish just to offend others. Since you can't just ask people to behave like human beings, a lot of time and effort is spent monitoring and policing this idiocy. Thankfully, the internet's long national nightmare may now be at an end after researchers from Stanford and Cornell developed an early warning system for trolls.
If you own a smart TV or an iOS device that's getting a bit long in the tooth, you may need to do some upgrading this week if you want to continue using the YouTube app. Due to certain changes in the app's API, it'll no longer work on a number of models released in 2012 or earlier, including second-generation Apple TVs, Panasonic TVs, Sony TVs and Blu-ray players, as well as devices running Google TV versions 1 or 2. You'll know you're affected if a video showing the notice above plays upon firing up the app, though most models released in 2013 or later are safe.
Wondering what you were searching for online a few years ago? You now have a (relatively) easy way to find out. Google has quietly trotted out an option to download your entire search history. So long as you searched using your Google account, you'll have a permanent record. Of course, this is something of a mixed blessing given how pervasive Google is at this stage. While the archive may help you dig up a keyword you're struggling to remember, something tells us that it'd be all too easy to dredge up embarrassing memories -- we hope you didn't Google your classroom crush.
For decades, people have searched for signs of "Nessie" in the murky depths of Loch Ness. Photos and videos have emerged over the years alongside supposed sightings, but they've ultimately failed to prove the mythical beast's existence. Is Nessie fact or fiction? Regardless of where you stand, Google is making it simpler to explore the freshwater loch yourself. The company has captured the giant lake with 360-degree panoramas and uploaded them all to Google Maps Street View. It's a beautiful place, and while you're unlikely to find Nessie lurking in the shallows, there's no harm in looking, right? || Coinbase Expands Into The UK: Over the past few months, the UK has made itself a welcome home for bitcoin users, enthusiasts, and entrepreneurs looking to get in on the growing trend of digital currencies. Many have declared London as a hub for bitcoin businesses due to the city's attitude of acceptance, and it seems that established bitcoin-based firms are beginning to take notice. Coinbase Exchange Opening On Tuesday, Coinbase opened a regulated exchange in the UK, allowing users to trade bitcoins for both pounds and euros. Before this week's opening, Coinbase was only operating in the US, but the expansion will allow users in Great Britain to use the service as well. Positivity In The UK Coinbase CEO Brian Armstrong said much of his decision to expand into the UK was based on a recent visit to London, where he said the attitude surrounding cryptocurrencies was very optimistic. Though he admitted the exchange was difficult to open due to regulatory oversight in the UK, Armstrong said the region's regulators were very accommodating and helpful. Related Link: Bitcoin Wallet Circle Rumored To Be Raising Million London Emerging As Bitcoin Hub Armstrong's experience expanding into the UK suggests that the region is making good on pledges by British Economy and Finance Minister George Osbourne to work together with firms and promote digital currencies while still protecting the region against criminal activity. Coinbase To Continue Growing Armstrong says that the company's UK expansion is only the beginning of the exchange's growth. Already the largest exchange by volume in the US, Coinbase is hoping to take its services across the globe to serve several different markets. See more from Benzinga With No Chance Of A Rate Hike, Investors To Focus On Fed's Economic Analysis Rising Drug Prices Capture Congress' Attention Greece Isn't The Only Flight Risk For The Eurozone © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Trading Internet earnings: 7 plays on mainstays: Facebook(NASDAQ: FB)reeled after earnings on Wednesday, but some CNBC "Fast Money" traders would be quick to scoop up the stock.
The social media giant dropped 2 percent in extended trading after it reported first-quarter revenue that missed analysts' expectations. But as the company's monthly active users in March rose 13 percent year-over-year, to 1.44 billion, trader Brian Kelly would buy on the slide.
"If you can't monetize that, then you really shouldn't be in any type of business whatsoever. So, on weakness, you buy Facebook," Kelly said.
Read MoreFacebook user growth crushes estimates
Trader Pete Najarian agreed that the stock has upside.
"I think tomorrow morning, as the dust settles, we're going to start to see really what the direction of Facebook is going to be," he said.
But trader Dan Nathan expressed more skepticism. He noted that user growth and ad revenue on mobile platforms may start to reach a saturation point. He said he preferred Google stock to Facebook.
EBay(NASDAQ: EBAY)-another Internet name that reported on Wednesday-soared in extended trading. The company beat Wall Street's earnings and revenue expectations, driven by strong growth in its PayPal service.
Read MoreEBay jumps after beating Street on profit, revenue
The stock popped 5 percent in after-hours to roughly $60 per share. Trader Guy Adami believes eBay shares could "make the push to the next level."
The company also said the previously announced split of eBay and PayPal into separate publicly traded companies would take place in the third quarter. Nathan noted that he would look to take a long position in an independent PayPal and short eBay, as its core marketplace segment fell off 4 percent year-over-year.
Disclosures:
Pete Najarian
Pete Najarian is long AMAT, AAPL, BABA, BAC, BMY, BP, CSX, DISCA, FOXA, GE, KKR, KO, LLY, LOCO, MBLY, MRK, PEP and PFE. He is long calls AAPL, BK, DAL, EBAY, EEM, F, FB, FL, GE, GS, HZNP, IMAX, JBLU, KO, MAC, MYL, NEE, NTAP, OC, PBR, PFE, RAD, SYY, TEVA, TSX, UA, UAL, VZ, XLF, XOM and ZIOP. Today, he bought IMAX calls. Today, he bought EBAY calls. Today, he sold AMGN calls. Today, he bought AAPL calls. Today, he bought FB calls.
Dan Nathan
Dan Nathan is long BBRY June call spread, EBay May/July call spread, IWM May put fly, KO April 24th call fly, LULU May puts, M May call spread, NKE call spread, QQQ May 108/ 98 put spread, SHAK, T, TWTR, WMT June call spread, XLP May put spread and XLY May puts. Today, he bought EBay May/July call spread.
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.
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 || USAA creates research team to study use of bitcoin technology: By Gertrude Chavez-Dreyfuss NEW YORK, May 8 (Reuters) - USAA, a San Antonio, Texas-based financial institution serving current and former members of the military, is studying the underlying technology behind the digital currency bitcoin to help make its operations more efficient, a company executive said. Alex Marquez, managing director of corporate development at USAA, said in an interview this week that the company and its banking, insurance, and investment management subsidiaries hoped the "blockchain" technology could help decentralize its operations such as the back office. He said USAA had a large team researching the potential of the blockchain, an open ledger of a digital currency's transactions, viewed as bitcoin's main technological innovation. It lets users make payments anonymously, instantly, and without government regulation. The blockchain ledger is accessible to all users of bitcoin, a virtual currency created through a computer "mining" process that uses millions of calculations. Bitcoin has no ties to a central bank and is viewed as an alternative to paying for goods and services with credit cards. "We have serious interest in the blockchain and we think the technology would have an impact on the organization," said Marquez. "The fact that we have such a large group of people working on this shows how serious we are about the potential of this technology." USAA, which provides banking, insurance and other products to 10.7 million current or former members of the military, owns and manages assets of about $213 billion. Marquez said USAA had no plans to dabble in the bitcoin as a currency. Its foray into the blockchain reflects a trend among banking institutions trying to integrate bitcoin technology into their systems. BNY Mellon and UBS have announced initiatives to explore the blockchain technology. Most large banks are testing the blockchain internally, said David Johnston, managing director at Dapps Venture Fund in San Antonio, Texas. "All of the banks are going through that process of trying to understand how this technology is going to evolve." Story continues "I would say that by the end of the year, most will have solidified a blockchain technology strategy, how the bank is going to implement and how it will move the technology forward." USAA is still in early stages of its research and has yet to identify how it will implement the technology. In January this year, USAA invested in Coinbase, the biggest bitcoin company, which runs a host of services, including an exchange and a wallet, which is how bitcoins are stored by users online. (Reporting by Gertrude Chavez-Dreyfuss; Editing by David Gregorio)
[Random Sample of Social Media Buzz (last 60 days)]
LIVE: Profit = $744.19 (1.13 %). BUY B275.83 @ $238.34 (#BitStamp). SELL @ $240.00 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org || One Bitcoin now worth $234.82@bitstamp. High $237.00. Low $234.15. Market Cap $3.328 Billion #bitcoin || current #bitcoin price (bitstamp) is $233.53, last changed Sun, 03 May 2015 00:10:59 GMT. queried at: 00:11:04 || $238.00 #btce;
$235.71 #bitstamp;
Instantly buy GH/s with BTC: http://bit.ly/LN53k1
#bitcoin #btc || Current price: 152.89£ $BTCGBP $btc #bitcoin 2015-05-22 21:00:05 BST || LIVE: Profit = $969.35 (27.34 %). BUY B15.40 @ $230.01 (#Bitfinex). SELL @ $235.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org || 1 #bitcoin 629.27 TL, 233.139 $, 212.678 €, 155 GBP, 12072.00 RUR, 29800 ¥, 1510 CNH, 286.62 CAD #btc || Bitcoin traded at $232.01 USD on BTC-e at 07:00 AM Pacific Time || In the last 10 mins, there were arb opps spanning 21 exchange pair(s), yielding profits ranging between $0.00 and $1,086.22 #bitcoin #btc || In the last 10 mins, there were arb opps spanning 19 exchange pair(s), yielding profits ranging between $0.00 and $743.33 #bitcoin #btc
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Trend: up || Prices: 245.21, 243.94, 246.99, 244.30, 240.51, 242.80, 243.59, 250.99, 249.01, 257.06
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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)]
Why Etsy, Inc. Stock Climbed 11% Last Month: What happened Shares of crafty online marketplace Etsy (NASDAQ: ETSY) were moving higher again last month after the stock benefited from momentum following a strong fourth-quarter earnings report at the end of February and the successful offering of $300 million in convertible senior notes. According to data from S&P Global Market Intelligence , the stock finished the month up 11%. As the chart below shows, Etsy's gains came in the first half of the month following its earnings report and the issuing of convertible notes. ETSY Chart ETSY data by YCharts. So what On Feb. 28, shares of the e-commerce operator jumped 20.4% after a better-than-expected fourth-quarter earnings report. Gross merchandise sales, or the dollar value of goods sold on the platform, surged 17.8%, to $1.02 billion. This was the first time the company crossed the billion-dollar mark and accelerated from just 13.2% growth in the third quarter. Adjusted earnings per share also improved from a loss of $0.19 a year ago to a $0.15 profit. Changes that were implemented after activist investors took stakes in the company nearly a year ago and Josh Silverman took the helm as CEO seemed to be paying off. The Etsy logo next to several blank price tags Image source: Etsy. Etsy stock jumped again on March 9, gaining 6% when the company issued $300 million of convertible notes with a conversion price of $36.27, which indicated another bullish signal for the stock. For the rest of the month, there was little material news out on the company and the stock traded sideways. At the end of March, the company added two new directors to the board, Edith Cooper, former Global Head of Human Capital at Goldman Sachs , and Gary Briggs, Chief Marketing Officer at Facebook . The moves seem to reflect Silverman's ongoing efforts to remake the company. Now what Etsy shares have nearly tripled over the last year due to accelerating growth and the fact that the company has adequately defended itself from Amazon , which has made a push into handcrafted goods with its Amazon Handmade platform. With a unique niche in the arts-and-crafts e-commerce marketplace and the biggest number of buyers and sellers, Etsy should have an advantage over competitors like Amazon. If the company can keep demonstrating its long-term growth potential and posting solid growth numbers, the stock should continue moving higher. Story continues 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 Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Jeremy Bowman has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon. The Motley Fool recommends Etsy. The Motley Fool has a disclosure policy . || 2 Beta Thalassemia Drugs Are Fast Approaching the Finish Line: Celgene Corp.(NASDAQ: CELG)andbluebird bio(NASDAQ: BLUE)are frenemies. They'reworking togetheron a game-changing gene therapy for multiple myeloma, but they're also on a collision course in beta thalassemia, a common genetic disease.
In collaboration withAcceleron Pharma(NASDAQ: XLRN), Celgene isdevelopingluspatercept. Meanwhile, bluebird bio's developing LentiGlobin. Pivotal trial results are expected soon for both therapies, and if the data's good, then filings for approval should follow shortly thereafter, making these companies head-to-head competitors in this indication.
IMAGE SOURCE: GETTY IMAGES.
There are about 60,000 children born with beta thalassemia every year, including 1,500 per year in the United States. Unfortunately, many of these patients will experience life-threatening organ damage over time because the red blood cell transfusions they require can cause iron overload.
Beta thalassemia is an inherited genetic disorder that prevents patients from adequately producing beta globin, a protein that's necessary for making the oxygen-carrying protein, hemoglobin. Absent adequate hemoglobin, most red blood cells die, so beta thalassemia patients require regular red blood cell transfusions to prevent that from happening.
Unfortunately, those transfusions pose a life-threatening risk to patients because they can result in patients storing more iron in their blood than they can get rid of. Over time, this results in iron building up to levels that can cause irreversible organ damage, such as cirrhosis, diabetes, and heart disease.
Luspatercept is designed to spark production of healthy red blood cells by regulating transforming growth factor beta (TGF-beta) proteins that are involved in late-stage red blood cell differentiation and maturation. By regulating these proteins, Celgene and Acceleron hope to reduce or eliminate the need for frequent blood transfusions.
According to Celgene and Acceleron, luspatercept's late-stage trial met its target enrollment last summer, putting the companies on track to report data from that trial this summer. The primary endpoint of the study is the proportion of patients achieving a 33% or greater lowering of red blood cell transfusion burden from week 13 to week 24 compared to a baseline, which is the 12 weeks prior to receiving luspatercept. A secondary trial endpoint is transfusion burden from week 37 to week 48 versus the baseline period.
It's anyone's guess if luspatercept will clear that primary endpoint hurdle, but in phase 2 studies, the majority of patients achieved a 50% reduction in transfusion burden in any 12-week treatment period when compared to the 12 weeks prior to receiving luspatercept.
If that's any indication (and believe me, it might not be!), then luspatercept could have a decent shot at eclipsing the 33% target in its late-stage study and making its way to the Food and Drug Administration (FDA) later this year.
Unlike luspatercept, which is dosed every three weeks, bluebird bio's LentiGlobin is being evaluated as a single-dose therapy. Instead of targeting TGF-beta, LentiGlobin is an ex-vivo approach that inserts a functional human beta-globin gene into a patient's own hematopoietic stem cells. Those re-engineered cells then are infused back into patients in a process called autologous stem cell transplantation.
Recently, bluebird bio reported interim data from two phase 1/2 LentiGlobin trials that's impressive. After one dose of LentiGlobin, 12 of 13 patients who still produced some hemoglobin but were transfusion dependent, didn't require any red blood cell transfusions for a median 27 months. In patients with beta thalassemia major, a severe form of the disorder, transfusions were stopped in three patients, and overall, median transfusion volume fell by 73%.
If the full data set expected later this year confirms these findings, then bluebird bio plans on filing for LentiGlobin's approval in the EU by the end of this year.
The two therapies could face-off against each other someday, but it could be awhile before that happens. Luspatercept's studies are designed to support an FDA approval, but bluebird bio thinks it will need more data before it can secure an approval in the United States.
Unlike in the EU, where regulators have indicated they'll consider data reported later this year, the FDA wants to see results from two additional studies that bluebird bio has underway. One of those trials has an estimated completion date of January 2020, and the other has an estimated completion date of April 2021, according to Clinicaltrials.gov, so it's conceivable that luspatercept won't have to worry about LentiGlobin competing against it in the U.S. for a few years.
Overall, significantly lowering the risk of iron overload in beta thalassemia patients would be a major advancement that could translate into hundreds of millions of dollars in annual sales for these companies. That means approvals could be a big win for patients and investors in Celgene, Acceleron, and bluebird bio.
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Todd Campbellowns shares of Bluebird Bio and Celgene. His clients may have positions in the companies mentioned. The Motley Fool owns shares of and recommends Bluebird Bio and Celgene. The Motley Fool has adisclosure policy. || Bitcoin Breakout: Price Jumps $1K in 60 Minutes: Bitcoin rallied over $1,000 in an hour this morning, having spent a better part of the last two weeks trading sideways in a narrow price range. The cryptocurrency clocked a two-week high of $8,055 soon before press time and is currently trading at $7,850, according to CoinDesk's Bitcoin Price Index . The move marks a 13 percent gain from the previous day's close of $6,939. Crypto Privacy Tokens See Price Lift on Pornhub Deal It appears short liquidation or unwinding of short (sell) BTC trades has played a big role in the sudden rally, according to some sources. The cryptocurrency picked up bids at $6,766 at 07:00 GMT and scaled the $7,000 mark at 11:00 GMT -Â a move that seems to have triggered stop losses on short trades, as reported by WhaleCalls. Further, technical buyers may have jumped in as the move above $7,000 also marked an upside break of the falling wedge pattern. It's worth noting that, while it took two hours to move from $6,766 to $7,000, the next $1,000 jump happened in just 45 minutes. Bitcoin Price Defends $8K But Pullback Still in Play The speed of the ascent should not come as a surprise as wider the range and the longer the duration of the consolidation zone, the more violent a breakout tends to be. For now, it appears bitcoin's period of consolidation has ended with a notable bullish breakout. Next, a move to $8,500 cannot be ruled out if the cryptocurrency closes (as per UTC) above $7,510 , confirming a bullish double bottom breakout . Hot-air balloon image via Shutterstock Related Stories Sell the News? Verge Token Drops After Porn Partner Reveal Support Forming? Why $7.9K Is Bitcoin's New Price to Watch || 3 Great Stocks to Buy With Your Tax Refund: Four out of five American households are expected to get a tax refund this year, with an average refund of more than $3,000. There are several smart ways to use your tax refund, such as for paying off credit card debt, building up an emergency fund, or just getting caught up on your bills. On the other hand, if your credit card debt is under control, you have sufficient cash to cover unforeseen expenses, and you're generally in good financial shape, using your tax refund to add to your investments can be the smartest move. In fact, a $3,000 tax refund invested for 30 years that simply matches the stock market's historical rate of return could grow to more than $45,000. With that in mind, here are three great stocks that could help you put your tax refund to work in 2018. Tax refund check laid on top of a 1040 form. Image source: Getty Images. Perhaps the best all-around stock in the market If I could only own one stock, it would be Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B) , hands down. Warren Buffett speaking with the media. Berkshire Hathaway CEO Warren Buffett. Image source: The Motley Fool. While portfolio diversification is certainly important, Berkshire actually does a pretty good job of it, and in a single stock investment. The company's 60-plus subsidiary businesses operate in a wide variety of industries, with major operations in insurance, railroads, utilities, and consumer products. And many of Berkshire's subsidiaries are household names -- the company owns GEICO, Duracell, Fruit of the Loom, and Dairy Queen, just to name a few. In addition, Berkshire owns a massive, well-diversified $181 billion stock portfolio that includes large investments in Apple , American Express , Bank of America , Coca-Cola , and Wells Fargo . While Berkshire's size means annualized returns above 20% are unlikely on a sustained basis going forward, the company's time-tested growth strategy could still produce market-beating investment returns with a minimal amount of risk. It's also worth mentioning that since Berkshire is the only stock of the three on this list that doesn't pay a dividend (Buffett prefers to reinvest profits into the business), it works well in a taxable account as well as in a retirement account. Story continues A high dividend and massive growth potential High dividends are nice, but the combination of high dividends, sustainability, and long-tailed growth potential is a long-term investor's dream. That's why Welltower (NYSE: WELL) should be on your radar. Welltower is a real estate investment trust, or REIT, focused on healthcare properties -- particularly senior housing and other senior-focused properties. About 83% of the portfolio's income is derived from senior housing and long-term/post-acute care facilities. It is the largest healthcare REIT and one of the largest REITs of any kind in the market. Welltower has underperformed recently, in part due to oversupply fears in the senior housing market. While this could indeed be a headwind in the near term, the growing senior citizen population should keep demand growing for decades. In fact, the 85-and-up age group (senior housing's key demographic) is expected to double over the next 20 years. By 2025, the need for senior housing units in the U.S. is expected to be growing at a rate of 92,000 every year . Chart showing projected growth in senior housing through 2035. Image source: Welltower. Additionally, Welltower's size and financial strength, combined with its focus on high-barrier urban markets, many of which are underserved, should give the company an edge. To name an example, Welltower currently has a property in development in Midtown Manhattan, where the availability of assisted living is five times less than the national average. Similar developments in Toronto and London are also under way. A beaten-down bank with lots of upside potential Most stocks in the banking industry have been on fire over the past two years, but New York Community Bancorp (NYSE: NYCB) has been a big laggard. XLF Chart XLF data by YCharts . If you're not familiar, New York Community Bancorp is a mid-sized bank with about $49 billion in assets, and it's a niche lender specializing in loans backed by rent-controlled apartment buildings in New York City. Because of the nature of its loans, the bank's efficiency is better than that of most banks, and defaults are nearly zero. Going forward, New York Community Bancorp stands to benefit from the major tailwinds benefiting the rest of the industry, such as tax reform and rising interest rates. So, why has the stock performed so poorly? One reason is the bank's merger-gone-wrong with Astoria Financial , which left a bad taste in investors' mouths. Another is that the bank has been on the verge of surpassing the $50 billion asset threshold for years, which would make it a Systemically Important Financial Institution (SIFI), resulting in greater regulatory oversight and increased compliance costs. In order to avoid exceeding the threshold, New York Community has been paying high dividends rather than reinvesting in the business, and it has also been preparing for the increased compliance, which has been quite costly. Here's the point. The U.S. Senate recently passed a bill that would increase the SIFI threshold to $250 billion, and banks with less than $100 billion would be immediately exempt from the current regulatory requirements. This is far from a done deal, but it looks likely to happen sooner rather than later. And when it does, it would be a huge win for the bank, as it would allow it to regain its efficiency advantage and pursue further growth opportunities. 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 Matthew Frankel owns shares of American Express, Apple, Bank of America, Berkshire Hathaway (B shares), and New York Community Bancorp. The Motley Fool owns shares of and recommends Apple and Berkshire Hathaway (B shares). 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 recommends American Express and Welltower. The Motley Fool has a disclosure policy . || Keep an Eye Out for Bitcoin’s ‘Death Cross’: Bitcoin prices exploded in 2017. The cryptocurrency began the year near $1,000 and hit a high around $20,000 in December. For the investors that caught a bulk of that ride, those one-year returns are enough to be a serious game-changer for the entire life of their portfolio.
It’s not just bitcoin prices though, but all sorts of assets in the crypto space. Ripple, ethereum, litecoin and others have all burst higher as well. Heck, even regular companies have enjoyed a crypto bump.
Square Inc(NYSE:SQ) began a pilot program on its Cash app allowingusers to buy and sell bitcoin. It has since opened that program to more users and will likely incorporate more bitcoin functions in the future.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Nvidia Corporation(NASDAQ:NVDA) andAdvanced Micro Devices, Inc.(NASDAQ:AMD) have seen GPU sales rise thanks to cryptocurrency miners buying their equipment.
Despite this sudden bump in GPU demand, both management teams have been cautious about its sustainability. Some thought the big fall in bitcoin prices might deter miners. But keep in mind, near $9,000, bitcoin is still up almost nine-fold over the last 14 months or so.
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As long as crypto prices remain elevated, mining efforts should keep GPU demand steady.
I think bitcoin prices are a bubble. But that doesn’t mean the asset is not legitimate. Consider that the real estate market in Toronto is in a bubble. The U.S. housing market was in a bubble in the mid-2000s and before that, there was the dot-com bubble.
Companies likeAmazon.com, Inc.(NASDAQ:AMZN),IntelCorporation(NASDAQ:INTC),Cisco Systems, Inc(NASDAQ:CSCO),Qualcomm, Inc.(NASDAQ:QCOM) and tons of others all saw their stocks explode higher. It didn’t mean that the underlying asset — the businesses in this case — were illegitimate. Only that the stockpriceswere in a bubble.
I don’t know the future of bitcoin — not by a long shot. However, it’s hard for me to imagine investors throwing out their gold hoards in place of bitcoin. It’s hard to picture bitcoin replacing the U.S. dollar as the world’s reserve currency and ultimately replacing all fiat currencies. We can’t say it’s impossible because we never know how quickly technology will develop and what form it will take in the future.
But at least we know the foundation that bitcoin is built on — blockchain — has a serious place in our future. Be it in finance, logistics and supply chains, blockchain has proven its value.
It’s nowonder banks are picking up on it andInternational Business Machines Corp(NYSE:IBM) is working on extracting its value. The latest company entering the mix?Alphabet Inc(NASDAQ:GOOG, NASDAQ:GOOGL).
Whenever I think of where bitcoin prices are going, I think of Didi Taihuttu. Taihuttu is the one who, with his wife’s agreement obviously,sold all of their family’s belongings and put the money into bitcoin. House, cars, everything. He made the all-in move a while ago, so if Taihuttu has stuck with his outlook on cryptocurrencies, he’s made an absolute killing.
Anyway, what are bitcoin prices doing now? Unfortunately for Taihuttu and the rest of the bulls, we could be on the verge of a bitcoin death cross.
What’s that? A death cross is a technical term in trading when the 50-day moving average crosses below the 200-day moving average. It signals that the longer-term trend is no longer bullish. With the 50-day now below the 100-day moving average, the 200-day moving average could be next.
The bitcoin death cross hasn’t happened yet, and it may not happen anytime soon. If bitcoin can piece together a decent rally, it should put the bitcoin death cross worries at ease. The cryptocurrency has a tendency to rally, then consolidate. After its monstrous move into year-end 2017, this prolonged “cooling period” is no surprise.
Note that its last consolidation level occurred between $4,000 and $5,000. So resting between $8,000 and $10,000 isn’t exactly bearish. Use caution with bitcoin if prices break below the 200-day moving average, and especially use caution if the bitcoin death cross forms.
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The payoff of bitcoin can be lucrative, but for me personally, I’ll stick to cash flow statements and balance sheets.
Bret Kenwell is the manager and author ofFuture Blue Chipsand is on Twitter@BretKenwell. As of this writing, Bret Kenwell held a long position in NVDA.
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The postKeep an Eye Out for Bitcoin’s ‘Death Cross’appeared first onInvestorPlace. || These 3 Stocks Helped Cushion the Dow's 1st-Quarter Drop: TheDow Jones Industrials(DJINDICES: ^DJI)went through a lot of turbulence during the first quarter. In the end, the average lost just over 600 points, or about 2.5%, and broke a streak of winning quarters dating back to 2015.
Yet the news wasn't entirely bad for investors. Even though the overall index was down, there were still three stocks that managed to post double-digit percentagegainsduring the period. One of those stocks was one of the leaders that has helped push the Dow ever higher for years, but the other two were stocks that had been hit hard in the past and were able to mount an impressive recovery.
[{"Stock": "Intel(NASDAQ: INTC)", "Total Return": "13.6%"}, {"Stock": "Cisco Systems(NASDAQ: CSCO)", "Total Return": "12.8%"}, {"Stock": "Boeing(NYSE: BA)", "Total Return": "11.7%"}]
Data source: Yahoo! Finance.
Technology stocks have done well throughout the bull market, but not all tech players have done equally well. Even as companies that have strong exposure to hot areas like cloud computing, data analytics, and social media have seen impressive gains, the shifts in the technology arena have threatened to leave some of its largest players behind.
In particular, both Intel and Cisco have faced challenges as they transition away from their legacy business focuses to keep up with the rapid pace of innovation. For Intel, decades of PC processor dominance might have been the key factor in creating a culture of complacence that left the chip giant ill-prepared for the dramatic shift toward mobile devices. Meanwhile, there have been a number of new trends in the networking business that have allowed smaller rivals to build competitive advantages over Cisco. The network behemoth has had to work hard to figure out an appropriate response to defend its turf and find new avenues for growth.
Intel's reboundhas stemmed from its realization that itcancompete with its tech-titan peers in a wide variety of areas. Moving into data centers was a natural fit for Intel, because it allowed the company to use its existing expertise and apply it in a new direction that matches up well with enterprise customer demand in the current environment. Exploratory pushes into areas like artificial intelligence, drones, and the Internet of Things have contributed to new excitement about Intel, and efforts to develop and improve memory chips that can retain data without continuous power are also going well. At the same time, Intel has recognized the need to cut back on unnecessary costs, and that has boosted margin performance to maximize profits.
Image source: Cisco Systems.
For Cisco, the first quarter brought along-awaited return to revenue growth. After more than two years of year-over-year sales declines, the networking giant was able to produce impressive results that included gains in applications, infrastructure platforms, and security-based products. Recurring revenue continued to grow as a percentage of Cisco's overall business, reflecting a gradual transition toward the prevailing business model in technology right now. With tax reform creating a flood of cash for the company, Cisco boosted its dividend by a double-digit percentage and announced a $25 billion buyback, which should improve per-share performance in the quarters ahead.
Boeing's first quarter was more turbulent than Intel's or Cisco's, largely because it found itself at the center of controversies on the trade front. The aerospace giant relies substantially on exports of aircraft to fulfill orders from foreign airlines and other buyers, and the recent escalation in tariff impositions between the U.S. and China could affect the aerospace giant directly. China's newly announced tariffs on planes with empty weights between 15,000 and 45,000 kilograms would include some older-model 737 aircraft, but many believe that the newer 737 MAX line of jetliners are large enough that they'll be outside the weight range for tariffs.
Even so,Boeing has continued to perform well fundamentally. In general, order activity has remained strong, prospects for airlines remain good, and investors have therefore concluded that the good times for Boeing can last well into the future.
The Dow continues to face volatility as the second quarter opens, with new fears over trade tension producing big jumps and plunges. For the Dow to bounce back after the first quarter's declines, it will need further strength from stocks like Boeing, Cisco, and Intel to help lead the way higher.
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Dan Caplingerowns shares of Boeing. The Motley Fool recommends Cisco Systems and Intel. The Motley Fool has adisclosure policy. || How Japan Is Creating a Template for Cryptocurrency Regulation: How Japan Is Creating a Template for Cryptocurrency Regulation Some countries in Asia are feeling the pain of inadequate cryptocurrency regulation, while others, like India , China and South Korea , have taken an uncertain or hostile stance to cryptocurrency. In contrast, Japan is building a clear framework for how virtual currency exchanges, and soon initial coin offerings (ICOs), should operate there. In doing so, Japan is becoming a hotspot for virtual currency exchanges that can afford to comply with its strict rules, while also creating a regulatory template for the rest of Asia to follow. Japan has always been friendly to cryptocurrency, but it took an early hit in 2014 when Tokyo-based cryptocurrency exchange Mt. Gox became the target of the largest bitcoin hack ever. The exchange was handling 70 percent of all of the bitcoin transactions in the world when, after a series of messy complications, it abruptly stopped trading in February 2014. Following that, 650,000 bitcoin worth $390 million at the time (or $6 billion at today’s value) were reported missing. In response to the massive virtual currency heist, the Financial Action Task Force (FATF), the Paris-based international body that creates policies to combat money laundering, issued its “ Guidance of Risk-Based Approach to Cryptocurrencies ” in 2015. The 46-page report recommends that countries license virtual currency exchanges and subject them to the same rules and oversight as any other financial institution or money transmitting business. New Laws, Big Changes Prompted by a desire to protect consumers and the FATF’s recommendations, Japan revised its Payment Services Act. The new law, which went into effect in April 2017, does two things. First, it legally defines virtual currency as a form of payment. (Japan still does not define bitcoin as legal tender, but acknowledges that you can use it to purchase things with.) Second, the law requires any virtual currency exchange that wants to do business in Japan or solicit its citizens to register with the country’s Financial Services Agency (FSA). Story continues Because existing exchanges needed time to bring their operations up to date with the new standards, the FSA gave all exchanges that were in operation before the law went into effect a six-month grace period to apply for a license. Any exchange that applied for a license within that period was allowed to continue operating for an indeterminate period of time while their application was still pending. These exchanges fall under a special category of “quasi-operators,” meaning they are not fully licensed operators, just somewhere in between. Under the new law, virtual currency exchanges in Japan are now required to be accountable to their customers. They have to keep customer assets separate from the assets of the exchange, maintain proper bookkeeping, undergo annual audits, file business reports and comply with strict know-your-customer and anti-money-laundering rules, and more. First Licensed Exchanges Registering as an exchange in Japan is a long, involved process that can take up to six months. The FSA licensed the first 11 exchanges in September 2017. In early December 2017, it licensed another four, and at the end of December 2017, it licensed the 16th exchange. At that time, 16 quasi-operators still had applications pending and were in the process of upgrading their internal operations. Then, in late January 2018, disaster struck. Coincheck, one of the quasi-operators, was hacked , resulting in the loss of $530 million worth of NEM tokens. The Coincheck theft prompted heavier oversight. The FSA began conducting on-the-spot inspections for all quasi-operators to look for security gaps, and in March 2018, the FSA sent out punishment notices to seven exchanges , even requiring two to halt operations for 30 days. According to Asia News Network , the FSA is grappling with how to handle its quasi-operators. Shutting unqualified operators down too quickly could cause customer backlash, but, at the same time, the FSA needs to make sure the proper security checks are in place. Japan’s plan is to pass on part of the work of overseeing virtual currency exchanges to a self-regulating body (SRO) that functions similarly to how the Financial Industry Regulatory Authority (FINRA) works in the U.S. To that end, in April 2018, the Japan Virtual Currency Exchange Industry Association launched. The new group, comprised of the first 16 licensed Japanese virtual currency exchanges, will have the power to create and enforce rules and set fines, and eventually develop standards for ICOs. Legalizing ICOs After tackling virtual currency exchanges, Japan is now moving on to the ICO market. The process began in October 2017 when the FSA issued a statement warning investors about the volatility of ICO tokens and the risk for fraud. In that statement, the FSA also clarified that, depending on how an ICO is structured (and whether its token has the characteristics of virtual currency or an investment), it may fall within the scope of the Payment Services Act or the Financial Instruments and Exchange Act. In April 2018, the Center for Rule-Making Strategies at Tama University released a list of guidelines for regulating ICOs. The government-backed report states that ICO projects should clearly spell out how they plan to distribute funds. It also outlines rules for tracking the progress of a project, confirming the identity of buyers and restricting insider trading. According to Bloomberg , the proposal will be deliberated by Japan’s FSA and could become law in a few years. Japan is still fine-tuning oversight of its virtual currency exchanges, and its ICO framework may take a few more years to develop. But, by putting clarity around an industry that has long operated with little or no oversight, Japan is setting the stage for a future when cryptocurrencies will play a larger role in society. This article originally appeared on Bitcoin Magazine . || Lack of Wage Pressure Could Mean More Patient Federal Reserve: The week finished with the U.S. releasing its latest data on the jobs market in April and the Federal Open Market Committee unleashing a slew of speakers. U.S. Non-Farm Payrolls Report According to the U.S. Bureau of Labor Statistics, non-farm payrolls rose by just 164,000 versus an expected payroll growth of 192,000. The previous month was upwardly revised to 135,000. The unemployment rate fell to 3.9 percent in April, an 18 year low. Analysts were looking for a drop of one-tenth of a percent to 4.0 percent. The government also reported that the closely watched average hourly earnings number rose by 4 cents, equating to a 2.6 percent annualized gain, a little off the pace from the previous month and slightly less than expected. The average workweek was unchanged at 34.1 hours. Unemployment data showing discouraged workers and those holding part-time positions for economic reasons fell to 7.8 percent, the lowest since July 2001. Additionally, the drop in the unemployment rate came amid another decline in the labor force participation rate to 62.8 percent, the lowest since January. The number of people counted as out of the labor force swelled by 410,000 to 95.74 million. Finally, full-time jobs rose by 319,000 while part-time positions fell by 350,000. U.S. Federal Reserve Speakers Federal Reserve Bank of New York President William Dudley said he is optimistic about U.S. growth, while adding it’s too early to judge that the economy had overcome persistently low inflation. “I wouldn’t quite declare victory yet” on consistently achieving the Fed’s 2 percent inflation target, Dudley said Friday in New York during an interview with Bloomberg. “The inflation data goes up and down month to month, but we have made some progress and I am certainly happy where we are today.” San Francisco Fed President John Williams told CNBC Friday, there is a good chance unemployment will dip to 3.5 percent and inflation could go above the Federal Reserve’s 2-percent target. Story continues “I see the unemployment rate getting down to 3.5 percent. I see us maybe modestly overshooting our 2 percent inflation target,” said Williams. Federal Reserve Board Governor Randal Quarles on Friday said the U.S. central bank does not target asset prices and will not cut rates simply if the stock market tanks. “I don’t think that anyone should be expecting that, you know, sort of, a change in valuation, a rapid change in equity valuations that simply reflect a reversion of asset prices to the mean, as opposed to some signal about developments in the real economy, would result in an action by the Fed,” Quarles said in response to a question at a Hoover Institution conference on whether there is a Fed “put” by which the Fed uses rate cuts to fight stock-market declines. Atlanta Fed President Raphael Bostic said on Friday, the Federal Reserve should raise interest rates twice more this year, though upside potential from tax cuts and new government spending and a “rosy” economic outlook could require a bit more tightening. “I’m pretty firmly a three right now,” Bostic told Reuters in an interview on the sidelines of the Hoover Institution’s annual monetary policy conference, referring to the total number of rate hikes he expects the Fed to deliver this year. “I’m open to going either direction, going back to two (rate hikes) or going to four, depending on what the data show.” This article was originally posted on FX Empire More From FXEMPIRE: FTSE 100 has a bullish week Alt Coins have mixed week Bitcoin Cash, Litecoin and Ripple Daily Analysis – 05/05/18 Crude Oil find strength again during the week US stock markets recover nicely during the week Ethereum shows signs of strength during the week after initially drifting lower || Tesla Model 3 Production Rate: 3,000 Units Per Week?: Electric-car makerTesla's(NASDAQ: TSLA)Model 3 productionstumbled out of the gate, with the automaker significantly missing its first targets. Initially, Tesla was aiming to wrap up 2017 producing Model 3 at an average rate of 5,000 units per week. Instead, Tesla produced just 2,425 Model 3 units during its entire fourth quarter. Further, Tesla finished the year with a weekly production run rate of only about 1,000 Model 3s.
But Tesla recently proved its Model 3 production was gaining momentum when the automaker said it was producing Model 3 at a rate of2,000 units per weekearlier this month. And now Bloomberg'sModel 3 Trackersuggests production has exploded to about 3,000 units per week, putting Tesla well on its way to achieving its revised target of a production rate of 5,000 Model 3 units per week in just a few months.
Tesla factory. Image source: author.
Bloomberg's Model 3 Tracker, which uses Vehicle Identification Numbers (VINs) to forecast Tesla's weekly production rate, currently estimates weekly Model 3 production at 2,998 vehicles per week. This is particularly notable given that the model likelylags Tesla's actual production rateby as much as a few weeks. In addition, it was only two weeks ago when Tesla said it had achieved a production rate of 2,000 units per week, so this would mark a significant jump in a very short period of time.
But here's where things really get interesting. Bloomberg's trend feature for its Model 3 Tracker, which provides a three-week projection based on the most recent data, is currently forecasting a weekly production rate of nearly 4,000 Model 3 vehicles. Bloomberg, however, is careful to warn that its trend estimates "are subject to sudden corrections. If Tesla doesn't maintain the surge, we could see those estimated Trend rates suddenly plummet in the coming weeks."
To highlight how significant a production rate of 3,000 Model 3 units per week would be, this extrapolates to 39,000 Model 3s per quarter and 156,000 Model 3s per year. In 2017, Tesla produced just over 100,000 Model S, X, and 3combined.
Of course, Tesla will need a much faster production rate to get to its eventual goal of producing about 500,000 Model 3 vehicles per year, but Bloomberg's Model 3 tracker gives investors a promising sign that Tesla's Model 3 ramp-up is gaining significant traction.
Tesla's sudden jump in Model 3 production follows a challenging period when the company faced some production bottlenecks, namely in its battery module assembly. Tesla said in its fourth-quarter shareholder letter that it was addressing bottlenecks with more manual production from human labor -- a method Tesla CEO Elon Musk found surprisingly effective.
And then we have what we call a semiautomatic line, which is a series of small automated stations manned by people. And they've actually been remarkably effective. It has sort of renewed my faith in humanity that the rapid evolution of progress and the ability of people to adapt rapidly has -- is quite remarkable. Our semiautomatic -- our sort of semi-manual, semiautomatic line is exceeding all 3 of the automatic lines right now.
Musk was even more blunt about how Tesla erred in trying to over-automate Model 3 production in a tweet last week when he said, "[E]excessive automation at Tesla was a mistake. To be precise, my mistake. Humans are underrated."
Tesla factory. Image source: author.
Investors won't likely get an official update on Model 3 production until Tesla releases its quarterly update on deliveries and production, which should go live a few days after the electric-car company's second quarter ends. But Musk's forecast last week forprofitability and positive cash flow in both the third and fourth quartersuggests the sharp upward trend shown in Bloomberg's Model 3 Tracker is likely not too far from reality.
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Daniel Sparksowns shares of Tesla. The Motley Fool owns shares of and recommends Tesla. The Motley Fool has adisclosure policy. || The Real Winner in Apple's New Credit Card Deal Might Surprise You: Apple(NASDAQ: AAPL)is teaming up with investment banking giantGoldman Sachs(NYSE: GS)to develop and launch a new co-branded credit card next year, according to a report in theWall Street Journal. This would replace the tech giant's current partnership withBarclays(NYSE: BCS), and would be issued under the Apple Pay brand name.
While this could certainly help Apple boost adoption of the Apple Pay platform, it could be a much bigger deal for Goldman Sachs. Until a couple of years ago, Goldman's consumer banking business was virtually nonexistent. Now it could be about to jump to the next level.
Image source: Getty Images.
According to reports, Apple is planning to ditch Barclays as its credit card co-branding partner in early 2019, in favor of a new credit card issued in partnership with Goldman Sachs. The card would be a co-branded product with a major payment processor (such asVisaorMasterCard), so it could be used for everyday purchases. A previous report indicated that Goldman could potentially also offer financing deals for consumers buying Apple products, especially the iPhone, for which financing is currently supplied byCitizensBank.
The new credit card would be issued under the tech giant's Apple Pay brand. While we don't yet know what kind of rewards program would be offered, it would be fair to expect one that's at least on par with the current one offered by the Barclays product. That card offers three points per dollar on Apple purchases, two points at restaurants, and one point everywhere else; 2,500 points will get you $25 at an Apple Store or the App Store, or a $25 iTunes gift card.
Considering how aggressively and effectively Goldman has been making its push into consumer banking so far -- more on that in a bit -- I wouldn't be surprised if it offers a rewards program or sign-on bonus that's significantly more competitive with other credit card products.
Goldman offers its clients a version of the Platinum Card fromAmerican Express, but this will be the bank's first venture into the credit card space beyond its existing clientele.
Last year, Goldman Sachs' management stated a goal of generating $5 billion in revenue from new sources. And it looks like its consumer banking division could be a big part of that.
Thus far, Goldman's consumer banking efforts have been concentrated on its Marcus platform, which offers personal loans as well as online savings accounts and CDs that pay very competitive interest rates.
The progress Goldman has made so far on the consumer banking front is remarkable. The Marcus lending platform launched in late 2016, and by the time Iinterviewed the head of Marcus, Harit Talwar, in July 2017, it had already surpassed $1 billion in loans. Less than a year later, the bank has made $3 billion in loans and counting.
Unsecured debt is a $1 trillion industry in the U.S., so there's lots of room for growth here. And between the thriving Marcus platform and Goldman's new partnership with Apple, there's a clear path to capture serious market share and drive revenue.
According to Matt Schulz, CreditCards.com senior industry analyst quoted by Investor's Business Daily: "This move clearly shows that Goldman Sachs sees big opportunity in credit cards. Despite worries in the industry about the rising cost of rewards and the uptick in delinquencies, banks still make a ton of profit off of credit cards and Goldman Sachs wants to get its share."
Clearly, this is bigger news for Goldman Sachs than it is for Apple. To be sure, Apple stands to benefit from the new card as well, if it becomes significantly more popular than the current co-branded product -- the Barclaycard Visa with Apple Rewards. But keep in mind that details are limited, and it's unclear how the card will work with the existing Apple Pay platform, since the current co-branded Apple credit card is not an "Apple Pay" product.
Having said that, this couldreallykick-start Goldman's credit card business. After all, it would be difficult, if not impossible, to find a co-branding partner with higher sales or a more recognizable brand name. During themost recent quarteralone, Apple's services business (which includes the App Store, mobile payments, and music streaming) grew 31% from last year to generate $9 billion in revenue. Conceivably, customers could set a good portion of this to autopay with the new Apple Pay credit card.
Furthermore, the card could be used to purchase and finance Apple's products. Of Apple's $61.1 billion in revenue last quarter, here were some key sources:
• iPhones: $38.0 billion
• iPads: $4.1 billion
• Macs: $5.8 billion
Now, I'm not saying thatallof this would be charged to the new Apple Pay credit card, but even if Goldman Sachs can get a small fraction, it would be a big win. Consider that the Marcus lending platform recently reached $3 billion in total loans: Based on Apple's past four quarters, Goldman could see this much volume on its Apple Pay credit cards with just 1.2% of the tech giant's annual sales. And keep in mind that credit cards often have much higher interest margins than personal loans.
In a nutshell, this could be abigrevenue driver for Goldman Sachs, and could be just what the investment bank needs to take its consumer banking business to the next level.
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Matthew Frankelowns shares of American Express and Apple. The Motley Fool owns shares of and recommends Apple, Mastercard, and Visa. 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 recommends American Express. The Motley Fool has adisclosure policy.
[Random Sample of Social Media Buzz (last 60 days)]
20 BTC buy wall on $EDG #Edgelesspic.twitter.com/0WKXgw7A2z || 15 min #RSI Signals:
$BTC - $BYC: 9.14
$BTC - $BSD: 19.06
$BTC - $LTC: 21.67
$BTC - $GBG: 21.75
$BTC - $CND: 22.27
$BTC - $GTO: 22.61
$BTC - $LGD: 23.2
$BTC - $RCN: 25.86
$BTC - $LSK: 26.09
#BCO #bitcointalk #bitcoins #PLU #trading #ICO #ERC20 #cryptomemes #BigData #CVCOIN || #Bitcoin : Sube !! 05/05/2018 18:00:02 COMPRAMOS a COP 26.250.013,01 y VENDEMOS en COP 32.881.595,24 http://www.Bitcoiner.com.co #BitcoinColombiapic.twitter.com/MR03PqwA4x || Valores | dolar R$3.2995 | BITCOIN(MCDTBC) R$24368.00000000 | BITCOIN(BLCHAIN) R$22697.52 | LITECOIN(MCDTBC) R$439.62076000 || El peligro que representa el bitcóin por su alto gasto de electricidad https://goo.gl/hwrTd9 || BTC- The fast and the furious - #BTCUSD chart http://www.tradingview.com/chart/BTCUSD/bxNWRfoE-BTC-The-fast-and-the-furious/ … || Homeland Security Agent Joe Maki was completing the aftermath mop http://bit.ly/1m6Kpht #Cybersecurity #Bitcoin pic.twitter.com/fxsFclCuFn || Bitcoin Private (BTCP) Romania group , in case there are Romanians here.
The group has english translation.
https://www.facebook.com/groups/189975108286349/ … || Went away for a week. Now I'm the proud owner of the infected computer without user's permission, moreover the owner of 1 #bitcoin. || I sell $70,000 of #Bitcoin account Send me a #DM #selling #account #sellingaccount #accountforsale #sale #sell #buy #buyaccount
|
Trend: down || Prices: 8716.79, 8510.38, 8368.83, 8094.32, 8250.97, 8247.18, 8513.25, 8418.99, 8041.78, 7557.82
|
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 2015-10-19]
BTC Price: 263.44, BTC RSI: 67.58
Gold Price: 1173.30, Gold RSI: 61.68
Oil Price: 45.89, Oil RSI: 48.23
[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." || 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."
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. || 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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• Personal Finance || Your Old Credit Cards Now Obsolete. Now What?: (Rob Pegoraro/Yahoo Tech) Something weird has been happening to our wallets: Computers have invaded them, one credit card at a time. This overdue migration from cards with magnetic stripes on the back to EMV cards that add a tiny computer chip on the front reached a semi-important point Thursday: the liability shift, a rebalancing of powers between card issuers and merchants in the U.S. that may change who eats the cost of a bogus transaction. For most of us, Liability Shift Day should be the most boring holiday ever. Only a minority of debit and credit cards have EMV chips (EMV stands for Europay, MasterCard and Visa, the three parents of the system ), and the share of retailers taking chip payments is even smaller. But over time, things will change. Heres how: How exactly do I pay with a chip? Instead of swiping a card with that satisfying flick of the wrist, you pop the card into a slot in a card terminal. Then you leave it there as the chip generates a one-time code (like the three- or four-digit number on your card for online purchases), the terminal processes the transaction, and you sign to complete it. In my experience, that takes a few seconds longer than a mag-stripe cardassuming the stripe was able to read on the first try, which we all know doesnt always happen. Where can I pay with the chip? Your chip transactions may be confined to major merchants like Walmart, Home Depot, and Target. Its not enough to see a point of sale terminal with an EMV slot; that part may be inactive. For example, my neighborhoods Whole Foods accepts Apple Pay and other phone payments but not EMV. Spokesman Michael Silverman said the chain plans to fix that across its stores
by the end of 2016. A complete upgrade across U.S. retail will take longer. On a conference call Wednesday, Visa vice president Stephanie Ericksen said 314,000 establishments take chip payments, up from 55,000 last Septemberbut thats out of a total of maybe 6 million to 8 million. Story continues How do I get EMV versions of my cards? If you havent already been issued chipped versions of your cardsthose in my wallet reached that blessed state in July youll have to ask your issuer what the holdup is. While you wait, you might as well use that time to shop around and see if you can switch to a card with better cash-back or travel rewards . Will chip cards stop data breaches? Sorry, no. With EMV, your card number and expiration date still get sent in the clear to the store and beyond. If somebody hacks the terminal or the software upstream, they can still go to town with your card. It does not take care of making sure that the data is protected as it travels through the various layers of payment systems, explained Erik Vlugt, a vice president at the payment-processing firm VeriFone . EMV cards also remain usable if lost or stolen unless theyre further secured with a PIN. Thats common with European but not U.S. cards. (More on that later.) So what security problem does EMV actually solve? Chip cards cant be cloned the way stripe cards can. Counterfeiting is a huge problem, accounting for 37 percent of all U.S. credit-card fraud in 2014 second only after card not present theft staged online or over the phone, according to the research firm Aite Group . Crooks have had a clear economic incentive to clone cards, security researcher Brian Krebs noted in a 2014 explainer : A counterfeiter walks into a big box store and walks out with high-priced electronics or gift cards that he can easily turn into cash. Who pays with the liability shift? Definitely not you just like today, fraud isnt your problem as long as you report it. But merchants can pay more, subject to various rules. As National Retail Federation general counsel Mallory Duncan summed up in an e-mail: Whomever has the more evolved equipment (in a counterfeit situation) wins. That is, if the bank issued a chip card, the crook shows up with a counterfeit version of it, and the merchant doesnt process chip transactions, the merchant is liable to eat the cost. But it can get complicated: There are scenarios where both parties accept a certain percentage of the responsibility, MasterCard product-delivery head Carolyn Balfany said over e-mail. Note, too, that retailers already pay for some fraudulent transactions, as you can see in Visas chargeback rules . In turn, all of us pay in the form of slightly higher prices, same as we collectively pay for the shrinkage of shoplifting and employee theft. What if a store doesnt take EMV? Good luck judging a stores security, although some modern payment gadgets like Squares card readers do encrypt card numbers automatically. If you can use your phone to pay for things, do it. Apple Pay and Android Pay do tokenization, meaning they generate a new card number for each transaction. Or you could pay with cash, Bitcoin , bartered chickens , or any other mutually agreeable medium of value. What about chip-and-PIN? You may have read that chip-and-PIN cards are more secure because you have to type a number matching the one stored on the chip. But thats not why they exist: When EMV cards arrived in Europe, many establishments didnt have online access to verify transactions with issuers and so needed authentication that worked offline. U.S. banks have avoided PIN because, hey, who wants to remember another number? (A few months ago, Underwriters Laboratories innovations director Maarten Bron said hed seen too many chip-and-PIN holders write down their PIN on the back of their cards .) International travelers have complained that signature EMV cards dont work at kiosks in Europe. Visas rules now require those unattended terminals to waive the PIN; it says that in a recent test across five EU states, 90 percent of signature-card transactions worked . So how do we stop online fraud? Payment-processing systems can ensure they have nothing worth stealing by not keeping card numbers intactwhat Visa calls devaluing that data. In that respect, the slow adoption of EMV security could give lagging merchants a chance to jump to an Apple Pay level of security. Said PCI Security Standards Council chief technology office Troy Leach: Were hoping that they buy the next generation of security, which is encryption and tokenization. I hope hes right. But I wont be too surprised if five years from now, a shop with connectivity issues still has to dust off a knuckle buster card imprinter to take my payment on a slip of carbon paper. Email Rob at rob@robpegoraro.com ; follow him on Twitter at @robpegoraro . || 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. || Pot Resort To Open Fully Booked On New Year's Eve: In September, the Santee Sioux tribe of South Dakota announced that it was embracing new laws that allow Native American Tribes to sell and consume marijuana on their reservations by opening a marijuana-themed resort. The tribe outlined plans to create the ultimate "adult playground" where people could come to relax and enjoy marijuana in public spaces without fear of being prosecuted. Now, the Tribe's lawyers say that reservations for the resort's opening night are flying in, and that the establishment will likely open its doors for the first time to a sold out weekend. See Also: Relax And Get High New Year's Eve Opening The marijuana resort is slated to open on New Year's Eve, providing the perfect atmosphere for partygoers who are interested in making cannabis a part of their 2016 celebrations. The venue will feature dance clubs and a dedicated smoking lounge where around 30 different strains of cannabis will be on offer. The tribe's attorney Seth Pearman said the resort has already booked in rooms for 100 people as interest continues to grow. Tribal Revenue Much like casinos, many Native American tribes are hoping to bring in revenue from marijuana sales as laws allow them to sell and use the drug even if the state they reside in has classed it as illegal. For the Santee Sioux tribe, that has opened the door for a revolutionary idea to create the world's first cannabis resort. However, the venture comes with its own risks as the marijuana industry is still under the microscope. For one, the tribe will have to ensure that marijuana isn't taken off the reservation and that visitors aren't buying too much of the stuff. However, for the tribe, which has struggled to stay afloat financially, the estimated $2 million per month the resort is forecast to bring in is well worth it. See more from Benzinga Bitcoin Takes A Hit In Australia Small Businesses Turn To Online Lenders As California's Drought Drags On, Winners And Losers Emerge © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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.
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.comPress Contact:bonnie@marilynjean.com
SOURCE:MarilynJean Interactive || 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.
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• Personal Finance || As California's Drought Drags On, Winners And Losers Emerge: California's severe drought is dragging through its fourth year, leaving the state to continue finding ways to cut back on water usage.
Many of California's biggest businesses have been hard hit by the shortage, but other firms are using the crisis as an opportunity.
Agriculture
Water usage in agriculture is essential, so regulations cutting back on the amount farmers can use each day have been detrimental to the industry. This is especially true for poultry processors who use gallons of water to sanitize and clean each chicken. California's poultry farms process about 3 percent of the U.S. total, adding up to a great deal of water use.
Related Link:California Drought Stocks To Look At
Organics Suffer
Farms throughout California have been required toreduce their water useby 25 percent and cut back on outdoor watering – something that has taken a toll on the state's crops, especially those that are organic.
As organic crops are typically more difficult to grow and require more resources, prices have risen to cope with smaller yields in the wake of the shortage.
However, for companies likeMonsanto Company(NYSE:MON),E I Du Pont De Nemours And Co(NYSE:DD) andSyngenta AG (ADR)(NYSE:SYT), the drought has had the opposite effect. The shortage of water has created a demand for seeds that have been genetically modified to increase crop yields and reduce costs for farmers.
Cutting Back Is A Big Business
California residents have also been subjected to strict water usage limits, making everyday tasks like watering their lawns or even showering more complicated.
However, businesses who help track and cut down on water consumption have seen a boost in sales, as meters are installed and efficient usage gadgets are put to use.Mueller Water Products, Inc.(NYSE:MWA), a company that makes water meters, andRexnord Corp(NYSE:RXN), which focuses on efficient plumbing systems, are both expecting the drought to boost sales and increase their bottom lines.
Image Credit:Public Domain
See more from Benzinga
• Is Europe Recovering Or Not?
• In An Effort To Shore Up Cyberdefense, The FBI Looks To Teens
• Europol Highlights Bitcoin Use Among Criminals
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
More to come :) https://t.co/g3Pp9qq7JT || Bitcoin Technology Piques Interest on Wall Street http://t.co/9596l2RAiq http://t.co/UYBhSudLdC || #RDD / #BTC on the exchanges:
Cryptsy: Error
Bittrex: 0.00000004
Average $9.0E-6 per #reddcoin
09:00:02 || Current price: 202.25€ $BTCEUR $btc #bitcoin 2015-09-14 10:00:01 CEST || Current price: 169.39£ $BTCGBP $btc #bitcoin 2015-10-17 00:20:06 BST || 1 #bitcoin 717 TL, 235.902 $, 211.099 €, GBP, 15756.00 RUR, 28800 ¥, CNH, 316.59 CAD #btc || #Bitcoin last trade
@bleutrade $228.00
@btcecom $222.35
@cryptsy $227.53
Set #crypto #price #alerts at http://AlertCo.in || 1 #bitcoin 688.79 TL, 225.092 $, 207.8 €, GBP, 15543.00 RUR, 28000 ¥, CNH, 303.75 CAD #btc || $245.49 #coinbase;
$245.47 #bitfinex;
$244.29 #bitstamp;
$242.00 #btce;
#bitcoin #btc || In the last hour, 8 people won 1.00 BTC playing Bitcoin lottery at http://10xbtc.com , the easiest BTC lottery, 160BTC Jackpot
|
Trend: up || Prices: 269.46, 266.27, 274.02, 276.50, 281.65, 283.68, 285.30, 293.79, 304.62, 313.86
|
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 2015-05-06]
BTC Price: 229.78, BTC RSI: 45.98
Gold Price: 1190.30, Gold RSI: 48.69
Oil Price: 60.93, Oil RSI: 70.00
[Random Sample of News (last 60 days)]
Rivetz, Omni Foundation and HOPE Gold Coin Partners to Enable Secure E-Commerce: AUSTIN, TEXAS--(Marketwired - Mar 30, 2015) - [Texas Bitcoin Conference] --Rivetz(http://rivetz.com/), today announced the expansion of its community of software partners: Omni Foundation and HOPE Gold Coin will offer their customers state-of-the-art mobile security for e-commerce and ticketing.
Rivetz has also integrated the Omni-Layer protocol into its software development kit, RivetzSDK. The toolkit now offers Omni-Layer protocol/software developers a turnkey solution to rapidly integrate hardware security for Trusted Execution and key management into their applications. HOPE Gold Coin is leveraging the solution to provide state-of-the-art e-commerce and ticketing solutions for festival and concert goers atThe Festival of HOPE.
The RivetzSDK offers software developers protection for both private keys and sensitive data processing. The integration of the Omni-Layer protocol offers app developers the extensions to securely enable blockchain services to:
• Support transactions of blockchain assets,
• Offer blockchain enabled, peer-to-peer exchange of assets,
• Creation of new tokens on the blockchain.
Rivetz leverages the Local Trusted Execution Environment "TEE" supported on modern mobile devices to isolate secure transactions and keys from the local operating system and any malware. The isolation assures that the Omni-Layer compatible solution can enjoy cutting-edge cybersecurity protections and a simple user experience.
"We're thrilled about our partnership with Omni and HOPE Gold Coin together supporting The Festival of HOPE," said Steven Sprague,Rivetz's founder and CEO. "Music touches the heart and truly is a universal ambassador in helping bring HOPE Gold Coin and other crypto-currencies mainstream."
"Securing our partners' payment systems is fundamental to our philosophy and is consistent with what the market demands," said Judith Jakubovics, head of business development at the Omni Foundation. "Rivetz offers a next-generation security and device connectivity environment which is designed to work with next-generation smartphones and digital devices that our users demand."
"We're pleased about our joint partnership, and for the support of Omni, HOPE Gold Coin and Rivetz," said John Allen, co-founder and chairman of the Protector Committee for the HOPE Gold Coin Charitable Trust. "Billions of users around the globe will have an opportunity to participate in a wonderful series of concerts and events designed to support charitable causes and spread good will. Our partnership allows us to maximize the delivery of our charitable efforts by securing transactions and keeping operational costs at a minimum."
Omnicoin, HOPE Gold Coin (platinum sponsor) and Rivetz (gold sponsor) will be showcased atThe Texas Bitcoin Conferenceat the Moody Theater in Austin, Texas.
The Festival of HOPE. will take place globally, September 5-7, 2015. For details, please go tohttp://www.thefestivalofhope.org.
About Rivetz
Rivetz Corp. is focused on solving problems associated with consumers' relationships with financial and other online services. Rivetz provides a safer and easier-to-use model for all users to protect their digital assets and online transactions using hardware-based device identity. The device plays a critical role in automating security and enabling the controls that users need to benefit from modern services. Rivetz leverages state-of-the-art cybersecurity tools to develop a modern model for users and their devices to interact with services on the Internet. For more information, visitwww.Rivetz.com.
All product and company names herein may be trademarks of their registered owners.
RELATED LINKShttp://www.rivetz.com/ || Trading the oil pullback: 5 plays on volatility: As uncertainty reigns in oil trading, investors should look to profit on up-and-down movement in the commodity, CNBC "Fast Money" trader Pete Najarian said.
The CBOE Crude Oil Volatility Index(INDEX: .OVX)jumped more than 3 percent on Tuesday and is up 179 percent in the last year. It sat just below $54 on Tuesday and if it falls below $50, options in the index could be a profitable play, Najarian said.
"It gives you an opportunity to play some of that upside with all this volatility," he said.
Benchmark U.S. WTI crude oil(New York Mercantile Exchange: @CL.1)dropped 2 percent on Tuesday while global standard Brent(Intercontinental Exchange Europe: @LCO.1)fell more than 1 percent. Refiners including Tesoro(NYSE: TSO)and Valero(NYSE: VLO)"still work" amid the choppy trading, said trader Guy Adami.
Read MoreIran's nuclear deal and how it could affect oil
Both stocks have jumped more than 20 percent this year. American refiners have taken advantage of the spread between WTI and Brent, trader Brian Kelly said.
Brent sat more than $7 per barrel higher on Wednesday, so investors should watch the gap between the two, he added.
Though most have struggled, some "conventional production" companies have shown promise, trader Tim Seymour said. He looked at names including Hess(NYSE: HES)and EOG Resources(NYSE: EOG), which he said had strong balance sheets and could have upside on an industry downtrend.
Read MoreThe other biggest loser in oil's slide: Angola
Hess and EOG have fallen 18 and 6 percent, respectively, in the last year.
Disclosures:
Tim Seymour
Tim Seymour is long T, BAC, C, DIS, F, GE, GM, GOOGL, INTC, JCP and SUNE. Tim's firm is long BABA, BIDU, MCD, NKE, NOK and SBUX.
Pete Najarian
Pete Najarian is long AMAT, AAPL, BABA, BAC, BMY, BP, CSX, DISCA, FOXA, GE, KKR, KO, LLY, MRK, PEP, PFE and SAP. He is long calls BK, CNX, COP, EBAY, EXXI, F, FCX, FL, GE, GM, GT, JD, KO, LYB, NEE, PBR, PEP, RAD, RAI, TEVA, TWTR, UA, UAL, UFS and ZIOP. Today he bought RAI calls and UA calls.
Brian Kelly
Brian Kelly is long BBRY, BTC=, U.S. dollar, EEM, GLD, GSG and TLT. He is long calls CTRL. He is long puts SPY. He is short yuan.
Guy Adami
Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck.
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• CNBC.com Earnings Central || Goodbye dollar? Here's the currency of the future: How will you pay for groceries or gasoline in the future?According to Kabir Sehgal, author of the new book “Coined,” it might not be the old familiar greenback. As technology advances, so do currencies and payment systems.
“Look at Amazon (AMZN) points, Starbucks (SBUX) points. These are effectively the new currencies,” he says. “There are more frequent flyer miles in circulation than dollars, so it's one of the biggest currencies in the world.”
Sehgal believes that the future of money may involve the linking of corporate currencies.
“What if you could go in a taxi and pay with your Starbucks points, or go to Starbucks and pay with Amazon points?” he says. “So effectively you can link up all these corporations and create one unified corporate currency, and it may be very user-friendly.”
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He also thinks that mobile phones will likely become the payment device of the future. In recent years Apple Pay (AAPL), Google Wallet (GOOGL), andM-Pesahave been created to facilitate these transactions.
“So increasingly the mobile phone can be the way to pay for items and increase speed in a store,” he says. “Starbucks for example, is it quicker to pay with a mobile phone? Sure, the line will go faster and it's better for consumers, better for Starbucks.”
As for digital currencies, such as Bitcoin, Sehgal thinks it is unlikely they will gain traction as an alternative to the U.S. dollar. He points out that the U.S. government still maintains the ultimate power to determine what is a currency. Importantly, taxes in the U.S. can only be paid in U.S. dollars.
“I think what we're seeing now is the Bitcoin will thrive as a technology, not necessarily as a currency,” he says. “Bitcoin is way to transfer files in authenticated manner. That technology will remain and flourish.”
Sehgal says it isn’t illegal to create currency, noting that both Philadelphia and Ithaca created their own local currencies in the 1990s as a way to stimulate economic activity.
Historically, the U.S. has intermittently used many different currencies. “If you look at the Civil War, there were [several] currencies circulating throughout America,” Sehgal points out. || Corrected - Exclusive: Bitcoin exchange itBit seeks New York banking licence: By Lauren Tara LaCapra NEW YORK (Reuters) - (Story corrects amount of fundraising in second-to-last paragraph to $3.3 million in one round from $6.6 million in two rounds) In a little noticed move, bitcoin exchange itBit has filed for a banking licence in New York, according to the state banking authority. Approval for the licence may come in the next couple of weeks, people familiar with the matter told Reuters, which could make itBit the first bitcoin company to be regulated as a bank in the United States. The application is part of itBit's plan to expand its business into different corners of financial services, and present itself as a trustworthy and reputable company. Right now, itBit operates as an exchange where buyers and sellers trade the bitcoin digital currency. After a series of scandals that have roiled the virtual currency markets, reassuring customers, investors, and bitcoin market participants is critical. Last year, rival Mt. Gox filed for bankruptcy after its computer system was hacked, and prominent bitcoin advocates had been accused of money laundering. "Some highly publicized failures and potentially illegal activity have focussed attention on virtual currencies and have highlighted the need for a sound regulatory framework for virtual currencies," itBit Chief Executive Charles "Chad" Cascarilla said in an October letter to New York's state banking regulator on an unrelated matter. ItBit, whose exchange operates in Singapore, moved its primary headquarters to New York last year, and hired Erik Wilgenhof Plante from eBay Inc (EBAY.O) as chief compliance officer. The company's web site touts its anti-money laundering efforts and "know your customer" credentials, as well as its compliance in all jurisdictions in which it operates. "Whether fairly or not, companies that work within the regulatory framework are more trusted by customers and partners," said David Berger, CEO of the Digital Currency Council, an industry advocacy group. Story continues The bank application for itBit Trust Company LLC lists three bigwigs in government and regulatory circles as "organizers," including former Federal Deposit Insurance Corporation Chairman Sheila Bair, former Financial Accounting Standards Board director Robert Herz and former New Jersey Sen. Bill Bradley. Organizers are responsible for setting up limited liability companies in New York, but do not necessarily hold operating positions within them. The application also names Cascarilla as an organizer, as well as his business partner Emil Woods, a former SAC Capital portfolio manager who co-founded the investment firm Cedar Hill Capital Partners with Cascarilla. Benjamin Lawsky, New York's superintendent of financial services, has been a vocal advocate of regulating virtual currencies like bitcoin as well as other businesses, like payments, that would operate using the same technology. That technology, called blockchain, essentially records every transaction that happens on the system. Transferring cash requires changing an entry in the ledger, but does not require processing by a bank or other intermediary, making it potentially faster and cheaper. Many on Wall Street and Main Street dismiss unregulated virtual currencies like bitcoin as a wacky concept embraced by paranoiacs, gamblers and bored teenagers. But large companies including International Business Machines Corp (IBM.N) and Goldman Sachs Group Inc (GS.N) are looking seriously at applying the technology behind bitcoin to businesses ranging from payments to trading. Central banks like the U.S. Federal Reserve and the Bank of England have also examined blockchain, while major cities including Singapore, London and New York are positioning themselves as bitcoin hubs. [ID:nL5N0X63BQ] "Many people believe that the real payoff with the bitcoin phenomenon is blockchain and all the various uses it can be put to," said Jeff Neuburger, a partner at the law firm Proskauer Rose who specializes in technology. "It will have some impact on the way all kinds of financial services are conducted." Spokespeople for itBit and New York's department of financial services confirmed the company had filed a banking licence application but declined further comment. Bair, Herz, Cascarilla and Woods did not respond to requests for comment. Bradley could not be reached for comment. ItBit is backed by venture capitalists including Canaan Partners, RRE Ventures and Liberty City Ventures, where Cascarilla is a partner. Since its founding in 2012, the company has received $3.3 million in a round of fund-raising, according to the startup site CrunchBase. Lately, itBit has been looking to gather more money from investors including Cedar Hill to fund new business ventures, one person briefed on the matter said. (Reporting by Lauren Tara LaCapra; editing by Dan Wilchins and Diane Craft) || Rakuten.com Bolsters Secure Payments Processing With Bitnet: ALISO VIEJO, CA--(Marketwired - Mar 31, 2015) - Rakuten.com today announced it has fully integrated Bitnet's payment processing platform to accept bitcoin as payment. The Bitnet integration allows shoppers full consumer protection and peace of mind when using bitcoin for payment transactions with merchants through Rakuten.com's online marketplace. To mark the occasion, Rakuten.com is running a bitcoin promotion beginning April 1. Fumio Kobayashi, president of Rakuten.com said: "Bitcoin turned the Internet into a secure, seamless global payment network. By integrating with Bitnet we are now offering consumers the industry standard in secure payments, and our merchants will benefit by receiving guaranteed payments. Both consumers and merchants will have peace of mind when participating in the Rakuten.com online marketplace." The integration with Bitnet's platform will make Rakuten.com one of the most secure ecommerce marketplaces. Rakuten.com merchants will immediately see the benefits of using a digital currency, including guaranteed payment, instant global reach with no cross-border fees, no price volatility, and no fraud, risk or chargebacks, all for a transaction fees less than that of credit cards. Rakuten.com shoppers will instantly benefit from full consumer protection, including multi-sig escrow services for high-value items. John McDonnell, Co-Founder & CEO, Bitnet, said: "At Bitnet we built security into the DNA of our platform. Our approach to security is designed to protect both shoppers and merchants. We're excited to join with Rakuten.com in offering the most secure and seamless global payment network that can be enjoyed by both merchants and shoppers." Rakuten.com is promoting bitcoin payments with promotional campaigns to encourage shoppers to try the digital currency. The initial campaign rewards bitcoin users with a financial incentive. Other promotional campaigns will continue throughout the course of the year to encourage adoption and repeat usage. About Rakuten.com: About Rakuten.com Rakuten.com is a global e-commerce site that connects buyers and sellers in a dynamic marketplace and thinks of shopping as entertainment -- complete with sharing and discovery functions, great prices, fun experiences and convenience. Rakuten.com provides over 20 million products in 24 categories and includes a network of over 5,500 small and large business shop owners. Rakuten.com was founded as Buy.com in 1997 and acquired by Rakuten Inc. in May 2010. Its 150 employees are headquartered in Aliso Viejo, California. Story continues About Bitnet: Bitnet provides a digital commerce platform enabling enterprise-scale merchants to accept bitcoin payments. Bitnet's engineering, product, and business development team helped build and manage the world's largest payment gateway, CyberSource ( NASDAQ : CYBS ), which was sold to the world's largest payment network, Visa ( NYSE : V ), for $2 billion in 2010. Bitnet has offices in San Francisco, California and Belfast, Northern Ireland. For more information visit https://www.bitnet.io . View comments || Your first trade for Thursday, April 30: The " Fast Money " traders closed the show with their final trades of the day. Dan Nathan was a buyer of TWTR (NYSE: TWTR) . Brian Kelly was a buyer of the XLE (NYSE Arca: XLE) . Karen Finerman was a buyer of ANTM (NYSE: ANTM) . Steve Grasso was a buyer of BHI (NYSE: BHI) . Trader disclosure: On April 29, 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 is long BBRY June call spread, M May call spread, T, NKE call spread, QQQ May 108/ 98 put spread, WMT June call spread, IWM May put fly, XLP May Put Spread, XLY May Puts, LULU May puts, INTC May /July put spread. Today he bought TWTR and sold SHAK. Steve Grasso is long AAPL, BAC, BTU, DD, EVGN, MJNA, PFE, T, TWTR, GDX, his firm is long IBM, AMZN, AMD, MCD, KO, FCX, OXY, RIG, NE, TSE, VALE his kids own EFG, EFA, EWJ, IJR, SPY. Brian Kelly is long BTC=, Crude Oil, GLD, GSG, BBRY, SPY puts, U.S. Dollar, he is short 30-Year Bond Futures, Australian Dollar, DAX, Yen, Yuan. Today he bought Crude Oil and GLD. Today he shorted DAX. Karen Finerman is long BAC, C, FINL, FL, GOOG, GOOGL, JPM, M, MA, KORS, she is short SPY, her firm is long AAPL, ANTM, BABA, BAC, C, CMLS, DIS, FINL, FBT, FL, GOOG, GOOGL, GPS, IBB, JPM, M, KORS, XBI, SUNE, URI, her firm is short IWM, MDY, SPY, Karen Finerman is on the board of GrafTech International. FBR's Dan Ives: Firm acts as a market maker or liquidity provider for the company's securities: Microsoft Corporation RBC Capital Markets' Mark Mahaney: RBC Capital Markets is currently providing Facebook, Inc. with non-securities services. More From CNBC Top News and Analysis Latest News Video Personal Finance || Brad Garlinghouse Joins Ripple Labs as Company's First Chief Operating Officer: SAN FRANCISCO, CA--(Marketwired - Apr 16, 2015) - Ripple Labs today announced that it has appointed Brad Garlinghouse as the company's first Chief Operating Officer. The former Hightail CEO and longtime Yahoo! executive brings a history of disciplined growth and execution to the newly created position. "We are very excited to have Brad join the team," said Ripple Labs CEO and co-founder Chris Larsen. "Brad's experience will be invaluable as we advance our focus from building a strong pipeline to execution and exceptional growth. We share a vision for the future of finance and the creation of an Internet of Value in which value exchange is as fast, free, transparent, and secure as information exchange is on the Internet today." Prior to serving as CEO of Hightail, formerly known as YouSendIt, Garlinghouse was the President of Applications and Commerce at AOL. During a six year tenure at Yahoo!, he held a number of senior roles. Previously, he spent time as a Partner at @Ventures and in business development at @Home Network. Garlinghouse serves on the boards of Ancestry.com, Animoto, and Tonic for Health. He holds a BA from the University of Kansas and an MBA from Harvard Business School. "Ripple Labs is an incredible team, all joined by a shared passion to change the world -- the energy, commitment and expertise is unmatched," said Garlinghouse. "There is already incredible momentum for Ripple as a new infrastructure for global payments, and the opportunity to define the actual framework for the Internet of Value is an order of magnitude bigger than anything else underway in payments today." Ripple Labs is the global leader in distributed financial technology and standards. The team supports the adoption of Ripple, a settlement protocol that enables the world's disparate financial networks to securely transfer funds in any currency in real time. Banks, money transmitters and clearing houses can use Ripple as an alternative to correspondent banking to facilitate straight-through processing with no reserve funding required. Earthport , the largest open network for global bank payments, and three banks in the United States and Germany recently announced Ripple integrations. Ripple was created to enable the world to move value as easily as information moves today, giving rise to an Internet of Value (IoV) akin to today's Internet of Knowledge. For more information about Ripple Labs, please visit http://www.ripplelabs.com . For more information about Ripple, please visit http://www.ripple.com . About Ripple Labs Ripple Labs is the global leader on distributed financial technology. The team supports adoption of the Ripple protocol, an Internet of Value (IoV) that enables the free and instant exchange of anything of value. The San Francisco-based startup is funded by Google Ventures, Andreessen Horowitz, IDG Capital Partners, Core Innovation Capital, FF Angel, Lightspeed Venture Partners, Bitcoin Opportunity Corp. and Vast Ventures. Story continues Named one of 2014's 50 Smartest Companies by MIT Technology Review, Ripple Labs' team of 100 is comprised of deeply experienced cryptographers, security experts, distributed network developers, Silicon Valley and Wall Street veterans. They contribute code to the open-source software, as well as develop tools for and recruit financial institutions and payment networks to use Ripple. The team shepherds a movement to evolve finance so that payment systems are open, secure, constructive and globally inclusive. About Ripple Ripple is an Internet protocol that interconnects all the world's disparate financial systems to power the secure transfer of funds in any currency in real time -- enabling an Internet of Value (IoV). As settlement infrastructure, Ripple transforms and enhances today's financial systems. Ripple unlocks assets and provides access to payment systems for everyone, empowering the world to move value like information moves today. For more information about Ripple, please visit http://www.ripple.com . Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2803991 View comments || Microelectronics Announces Participation at the Inside Bitcoins Conference in New York: MONARCH BAY, CA / ACCESSWIRE / April 15, 2015/ Microelectronics Technology Company (OTC Pink: MELY) (MELY), is pleased to announce that BTC Pool Party, the Company's Bitcoin mining pool, will be attending and exhibiting at the Inside Bitcoins Conference in New York City April 27th - 29th.
BTC Pool Party has registered as a participant in the Inside Bitcoins Conference in New York April 27th - 29th. Additionally, BTC Pool Party will be a Sponsor for the Event and participate with a booth at the Expo during the days of the Conference.
The Company's Director of Business Development, Juan Garavaglia, is speaking on a Panel along with several industry experts on the topic of "Industrial Mining: Powered Warehouse Shell vs. Hosted Cloud Offerings".
"We believe this to be an exciting opportunity for the debut of the BTC Pool Party mining pool," states company President Mr. Brett Everett. "The Sponsorship and Expo will provide the exposure and visibility necessary to promote the upcoming launch of our Bitcoin mining pool."
BTC POOL PARTY MINING POOL
The Company is in the process of initiating the restart of the Company's Bitcoin Mining Pool with leased Peta Hash of mining power, mining on behalf of the Company. The company will be concentrating its growth efforts on the development of the BTC Pool Party until the new mining site is finalized and built out.
As previously announced, the company has a comprehensive roll out plan, which includes BTC conferences, online marketing and social media forums.
The company continues to develop and improve the BTCPOOLPARTY mining pool with the introduction of more detailed stats of the mining operations available as the Company moves forward.https://www.btcpoolparty.com.
https://www.facebook.com/btcpoolparty
Additional photos and videos can be viewed at the company's Facebook page:
https://www.facebook.com/MELYPK
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; MELY's ability to commercialize its technology; ability to defend intellectual property; material and component costs; competition; economic conditions; consumer demand and product acceptance, and availability of growth capital.
Additional considerations and risk factors are set forth in reports filed on Form 8-K and 10-K 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.
CONTACT:
For further Information:Microelectronics Technology CompanyPresident:Mr. Brett Everett888-681-9777 ext. 5info@melypk.comwww.melypk.com
SOURCE:Microelectronics Technology Company || Bitcoin Shop, Inc. Acquires Additional Equity Interest in Coin Outlet: ARLINGTON, VA--(Marketwired - Mar 26, 2015) - Bitcoin Shop, Inc. (OTCQB:BTCS) ("BTCS" or the "Company"), which is undertaking the build-out of a universal digital currency ecosystem, announced today that the Company has acquired an additional 2% equity ownership in Coin Outlet from Eric Grill, Coin Outlet's CEO, for 701,966 shares of the Company's common stock. BTCS now owns approximately 4.2% of Coin Outlet's equity and has the ability to own up to 11% upon exercise of its previously issued option and warrant.
BTCS CEO Charles Allen commented, "Today we are pleased to announce our additional ownership interest in, and partnership with, Coin Outlet. Their ATMs should allow consumers to exchange fiat currency for bitcoins through one fundamental and easy-to-use transaction. Additionally, with the help of Coin Outlet, we plan to leverage their ATM network as another on-ramp to our planned universal digital currency ecosystem."
Eric Grill, Chief Executive Officer of Coin Outlet, commented, "Together we are focused on driving bitcoin and digital currency adoption through a systematic roll out of ATMs across key cities from coast to coast. The partnership with BTCS encompasses the perfect collaboration of resources and technology."
About BTCS:BTCS plans to build a universal digital currency platform with the goal of enabling users to engage in the digital currency ecosystem through one point of access. The Company currently 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. Customers can access competitive pricing options from 256 retailers through BTCS's "Intelligent Shopping Engine." All ecommerce customer orders are fulfilled by third party vendors. The Company plans to use its ecommerce platform as a customer on-ramp for a broader digital currency platform. BTCS actively partners with strategic digital currency companies who have technologies, services or products that are complementary to its business strategy by making investments in them and integrating with them.
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. || Silk Road Bitcoin Auctions Prove There's Still An Interest In Cryptocurrency: On Thursday March 5, the U.S. Marshals Serviceauctionedoff around $13.9 million worth ofbitcoinsseized from Ross Ulbricht during the investigation into the Silk Road black market.
The auction attracted 34 bids from 14 bidders, proving that interest in the cryptocurrency isn't dead despite a year of bad press and volatile prices.
A Bit Of A Gamble
The auction took on an interesting dimension for interested parties as the bitcoins were priced based on market conditions, but could have a much higher or lower value once they are actually transferred due to bitcoin's high degree of volatility.
The government is expected to have completed the financial transactions by Monday and announce the winners some time this week. A total of 50,000 bitcoins were auctioned.
Demand Rising
Thursday's auction was the third of its kind and had a higher rate of participation than the second, conducted back in December. The December auction had just 11 buyers and 27 bids, but the first auction in June was able to attract 45 bidders and 63 bids.
Related Link: Bitcoin And Tax Season: What You Should Know
Participants To Be Announced
Venture capitalist Tim Draper did not participate in Thursday's auction despite his comments that the government auctions were likely to be the "best deal anyone will get" to purchase bitcoins.
Investment funds SecondMarket and Pantera Capital both participated; SecondMarket confirmed that it did not win any bitcoins, but the rest of the winners and losers are still unknown.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
buysellbitco.in #bitcoin price in INR, Buy : 16541.00 INR Sell : 15990.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || In the last 10 mins, there were arb opps spanning 20 exchange pair(s), yielding profits ranging between $0.00 and $1,125.21 #bitcoin #btc || current #bitcoin price (winkdex) is $221.77, last changed Tue, 14 Apr 2015 05:24:00 GMT. queried at: 05:27:24 || #Bitcoin last trade
@bitstamp $260.76
@bitfinex $262.00
@coinbase $263.13
Set #crypto #price #alerts at http://AlertCo.in || One Bitcoin now worth $234.06@bitstamp. High $240.00. Low $232.28. Market Cap $ 3.303 Billion #bitcoin pic.twitter.com/k58xW9djsR || LIVE: Profit = $1,128.67 (1.84 %). BUY B271.49 @ $226.00 (#Bitfinex). SELL @ $226.50 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org || Current price: 152.7£ $BTCGBP $btc #bitcoin 2015-05-05 11:00:10 BST | @BTCtoGBP http://dlvr.it/9gmZjt #bitXbitpic.twitter.com/qVOWNbe0yU || In the last 10 mins, there were arb opps spanning 26 exchange pair(s), yielding profits ranging between $0.00 and $831.76 #bitcoin #btc || current #bitcoin price (winkdex) is $223.93, last changed Tue, 21 Apr 2015 10:55:00 GMT. queried at: 10:57:46 || current #bitcoin price (winkdex) is $233.17, last changed Sat, 02 May 2015 03:33:00 GMT. queried at: 03:36:03
|
Trend: no change || Prices: 237.33, 243.86, 241.83, 240.30, 242.16, 241.11, 236.38, 236.93, 237.60, 236.15
|
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 2022-03-15]
BTC Price: 39338.79, BTC RSI: 48.30
Gold Price: 1928.50, Gold RSI: 51.46
Oil Price: 96.44, Oil RSI: 46.39
[Random Sample of News (last 60 days)]
Bitcoin and Ether Dips Supported, BNB Could Surge To $500: • Bitcoin corrected lower but remained supported near $42,900.
• Ether is holding gains above $2,870.
• BNB broke a major trend line and might eye a sharp increase.
After a bearish reaction from $45,000,Bitcoinprice corrected lower below $44,200. There was a clear move below the $44,000 level and the 21 simple moving average (H1).
The price traded below the $43,400 support zone, but the bulls were active near the $42,900 support zone. The price is slowly rising and is back above the 21 simple moving average (H1). Immediate resistance is near the $44,200 level.
A move above $44,200 could resend the price towards the $45,000 resistance. If not, it could start a fresh decline towards $42,900. The next major support is near the $42,800 level and a key bullish trend line on the hourly chart. A downside break below the trend line might call for a move towards the $41,900 level.
Etheralso started a downside correction from the $3,035 zone. It declined below the $2,930 support level and the 21 simple moving average (H1).
The bulls appeared near the key $2,870 support zone. Ether price is now rising and trading above the 21 simple moving average (H1). Immediate resistance is near the $2,950 level.
The main resistance is near the $3,000 zone and a connecting bearish trend line on the hourly chart. A proper move above trend line resistance and $3,035 could further push the price. On the downside, there is a strong support forming near $2,870 and $2,855.
BNBformed a support base above the $320 level. The bulls protected sharp losses below the $300 handle. The price started a steady recovery wave above the $350 resistance.
There was a clear move above the 50% Fib retracement level of the downward move from the $445 swing high to the $325 low. There was also a break above a crucial bearish trend line at $400 on the daily chart.
BNB price settled above $400 and the 21-day simple moving average. It is now consolidating above the 61.8% Fib retracement level of the downward move from the $445 swing high to the $325 low.
The recent breakout and price action suggests BNB could be setting up for a sharp increase towards $445. The next major resistance for the bulls could be $500. If there is no upside break, the price could start a fresh decline below the $400 level. The next major support is near $350.
Cardano (ADA)extended decline below the $0.925 support, but the bulls protected $0.900. If the price stays above $0.920, it could rise towards $0.950 or even $0.965.
Polkadot (DOT)is consolidating above the $18.50 level. However, immediate resistance is near $19.20. A successful break above the $19.20 level might pump the price towards the $20.00 level.
A few trending coins areNEAR,ALGO,ETC, andVET. Out of these, VET surged 10% and might continue to rise towards $0.0585.
Thisarticlewas originally posted on FX Empire
• British Pound Pulls Back Slightly
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• Anaplan Shares Soar As Analysts Boost Price Targets After Earnings; Target Price $63
• Gold Markets Continue to Consolidate || Silver Tests Resistance At $25.40: • Silver rallies as Russia attacks Ukraine
• Gold tests resistance at $1975
• Near-term dynamics will depend on geopolitical developments
Silveris currently trying to settle above the resistance at $25.40, while the U.S. dollar is gaining ground against a broad basket of currencies. Meanwhile,iShares Silver Trustis trying to get above the $23.50 level in premarket trading.
The U.S. Dollar Index managed to settle above the 97 level and is testing the next resistance at 97.25 as traders rush to safety due to war in Ukraine. In case the U.S. Dollar Index settles above 97.25, it will move towards the resistance at the yearly highs at 97.45. In a calm market, such a move would have been bearish for silver and gold price today, but traders will likely ignore strong dollar in today’s trading session.
Goldmoved above the $1950 level and tested the resistance at $1975, whileSPDR Gold Trustclimbed above $182.50 in premarket trading. If gold manages to settle above $1975, it will move towards the psychologically important $2000 level, which will be bullish for silver.
Silver is trying to get back above the resistance at $25.40. If silver settles above this level, it will move towards the next resistance, which is located at the recent highs at $25.60.
If silver manages to settle above $25.60, it will head towards the resistance level at $25.80. A move above this level will open the way to the test of the resistance at $26.00.
On the support side, the previous resistance level at $25.15 will serve as the first support level for silver. In case silver declines below this level, it will move towards the next support at $25.00. A successful test of this support level will open the way to the test of the support at $24.70.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
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• Russia To Seize 60T Rubles of Citizens Deposits if Sanctions Get Worse
• Bitcoin, Ether and Doge Decline Heavily, Are Bears Done Yet || Economic Data from the Eurozone Deliver Mixed Results for the EUR: It was a busier day on the Eurozone economic calendar. Finalized December inflation figures for Eurozone and German wholesale inflation figures were in focus. Eurozone Inflation In December, the Eurozone’s annual rate of inflation picked up from 4.9% to 5.0%, which was in line with prelim figures. Month-on-month, consumer prices increased by 0.4%. This was also in line with prelim figures. In November, consumer prices had also risen by 0.4%. According to Eurostat , A year earlier the Euro area’s annual rate of inflation was -0.3%. The lowest annual rates of inflation were registered in Malta (2.6%) and Portugal (2.8%). Estonia (12.0%) registered the highest annual rate of inflation, followed by Lithuania (10.7%). The highest contribution to the annual euro area inflation rate came from energy (+2.46 percentage points), followed by services (+1.02 pp), non-energy industrial goods (+0.78 pp), and food, alcohol, & tobacco (+0.71 pp). German Wholesale Inflation In December, Germany’s annual wholesale rate of inflation accelerated from 19.2% to 24.2% versus a forecasted 19.4%. Month-on-month, Germany’s PPI jumped by 5.0% versus a forecasted 0.8%. In November, the PPI rose by 0.8%. According to Destatis , Year-on-year, the increase was the highest ever. Compared with December 2020, energy prices were up 69% and up by 15.7% compared with November 2021. Strong price increases of natural gas (distribution) and electricity drove energy prices. Excluding energy, the overall index was up 10.4% up on December 2020. Prices of intermediate goods increased by 19.3%, while prices of non-durable consumer goods rose by 4.7% compared with December 2020. Market Impact Ahead of today’s stats, the EUR had fallen to a pre-stat low $1.13456. In response to Germany’s stats, the EUR rose to a post-stat and current day high $1.13690. Following the release of the Eurozone’s inflation numbers, however, the EUR fell to a post-stat and current-day low $1.13331. At the time of writing, the EUR was down by 0.05% to $1.13372. Story continues Next Up The ECB’s monetary policy meeting minutes will be in focus ahead of jobless claims and Philly FED Manufacturing numbers from the U.S. From the minutes, the markets will be looking for any chatter on inflation and interest rates. This article was originally posted on FX Empire More From FXEMPIRE: UAE’s Al Habtoor Group Jumps Into the NFT Craze El Salvador To Begin Offering Bitcoin-Backed Loans for Businesses After Metaverse, Social Media Giant Meta Plans to Explore the NFT space British Pound Continuing to Build Base Why Ethereum whales could be diversifying to MATIC, LINK Australian Dollar Climbs During the Trading Session || Stock futures and crypto flatline as investors worry that U.S. inflation will shoot past 7.2%: Investors are holding fire ahead of today’s consumer price index data-drop, due out an hour before the opening bell in New York. Ahead of that big number, stocks in Asia and Europe were a touch higher, but S&P 500 and Nasdaq futures were trading sideways as traders remain cautious ahead of the latest pivotal read on U.S. inflation. Crypto, too, was flailing, with Bitcoin trading 0.3% lower around $44,200. Ethereum’s Ether, another popular inflation-hedge bet, was down 1.5%. Here’s what to expect: Economists are forecasting that prices in America ticked up again in January, putting the year-on-year CPI rate at 7.2%, the hottest run-rate since the first term of Ronald Reagan’s presidency, at the tail end of the 1981–82 recession. What Americans paid last month for used Honda Accords (and the gas to fill them up), plus toilet paper, rents, and avocados will be keenly watched by the Federal Reserve. The central bank is all but certain to raise the prime lending rate next month. But a larger than expected CPI print could send a jolt through the markets, leading to increased speculation that the Fed will have to speed up rate hikes this year, or raise its lending rate in bigger increments. That’s the uncertainty that hangs over risk assets today. “The kryptonite for markets is undoubtedly inflation at the moment,” writes Jim Reid, global head of credit strategy and thematic research at Deutsche Bank , in an investor note this morning. “We are approaching a crucial point for U.S. CPI. If we don’t start gliding lower in line with expectations soon, the market is going to be pricing some 50bps [basis point] Fed hikes into the equation for 2022. “Today’s number,” he adds, “is a complicated one as Omicron could create distortion that unwinds next month.” The highly contagious COVID variant is on the wane across the U.S. and much of Europe, but its effects will be seen in today’s inflation data, analysts warn. “Omicron has caused factory shutdowns and threatened port closures in parts of Asia, which will only perpetuate the type of supply-chain constraints that are driving inflation higher,” says Bankrate chief financial analyst Greg McBride. “Expected interest rate hikes from the Federal Reserve will slow demand somewhat, but won’t fix the supply chain.” Story continues What else to watch for? In the U.S., stocks to watch are Disney and Uber , both of which reported big beats after the bell yesterday. Disney surprised analysts with strong Disney+ subscriber growth and better than expected results in its theme park business. Shares in the entertainment giant were up nearly 7% in premarket trading. Uber, too, is popping premarket. Shares in the ride-hailing company were up more than 5% at 4 a.m. ET as the company reported stronger than expected results during the Omicron wave. Uber shares are up more than 11% in the past week. This story was originally featured on Fortune.com || Exclusive DappRadar Report: How Russia’s War and the West’s Response is Impacting Crypto: When Russia launched an unprovoked invasion of Ukraine, its neighbor and trading partner, the world reacted in horror and anger. The West, led by the U.S. and the E.U., immediately imposed severe sanctions on President Vladimir Putin’s regime, including barring its access to foreign reserves. The global economy has been impacted with soaring energy and commodities prices, and capital markets are grappling with the uncertainty and long-term effects of Putin’s aggression and the worst military tragedy on the European continent since World War II. The cryptocurrency community, too, has been roiled by this tragedy. Due to blockchain technology’s peer-to-peer nature, there are a number of questions about the utility of Bitcoin and other digital assets in the war zone, and in Russia itself, where ordinary citizens have lost purchasing power as the rouble craters and access to financial infrastructure such as the Swift system. In this report, we unpack the macroeconomic forces at work and analyze how blockchain-based solutions may come to play an important role as the war continues. In a way not seen before, blockchain and web3 are demonstrating their value in contributing to the humanitarian effort to bring aid to Ukrainian refugees, and to providing support to Ukrainian citizens defending their country against the Russian military. Before we plumb the specifics of these initiatives, let’s understand how Russia and Ukraine affect the macroeconomic picture. Seismic shift in the global markets Russia is one of the largest economies as a major energy and commodities producer, while Ukraine is a global leader in wheat production. Russia is the third-largest oil producer worldwide and holds around 5% of the world’s reserves . Half of its exported oil is consumed by European countries, fueling one-third of Europe’s oil consumption . Russia is also the largest producer of natural gas and controls 25% of the world’s gas reserves . As a result, the price of crude oil has skyrocketed as sanctions came into force. So, too has gasoline, natural gas, coal, and heating oil. A rise in the price of electricity will impact Proof of Work blockchains like Bitcoin that require a high energy input. Russia also has a tight grip on the fertilizer industry due to its high nitrogen production but is also a high exporter of copper , nickel , palladium , and platinum , elements required for the production of chips and graphic cards used to mine cryptos or play high-end games. At the same time, Ukraine is the sixth largest producer of Titanium , a metal primarily used in manufacturing industries, and the third-largest producer of neon gas. Story continues Too big to fail? Global leaders have also sanctioned Russian banks while providers of payment services have halted operations in the country. It is estimated that by mid-2021, Russia’s Central Bank held around $650B in reserves; however, the restrictions will limit that amount to approximately $230Bn, as 65% of those reserves are held overseas in currencies such as the U.S. dollar, the euro, British sterling, and gold. Source: Statista The sanctions also mean that at least seven of the Russian most critical financial institutions will no longer be part of SWIFT, a global messaging system that’s crucial to cross-border payments. SWIFT is utilized by more than 11,000 institutions generating over 35M daily transactions. In similar fashion, payment giants Visa, Mastercard , American Express , and PayPal have all ceased operations in the sanctioned country, leaving millions of users without a critical monetary gateway. Although the citizens and businesses of Russia may eventually find alternatives to SWIFT, the financial constraints will damage its economy severely. One of the advantages presented by blockchain is the ability to enable seamless peer-to-peer transactions without intermediaries, creating practically borderless assets. This type of decentralized financial ecosystem can prove helpful for millions of Ukrainians and Russians who have been deprived of a direct payment gateway. However, the situation in Russia is far graver and more complex. Besides PayPal, Visa and Mastercard, payment and remittance services from organizations like Apple (Pay), Google (Pay), Wise, Remitly, and TransferGo have also halted operations in that country, bringing additional hurdles to a Russian working-class who could also be at risk of credit default. As a result, the most prestigious rating agencies have lowered Russian credit rates significantly. S&P and Moody’s downgraded Russia’s sovereign ratings to junk level, while Fitch cut Ukraine’s credit rating. The Russian ruble has experienced significant devaluations of almost 33% in the last seven days and can drop even further. To counteract the inflationary effect of a currency depreciation, cryptocurrencies and even other types of digital assets such as NFTs can be used as hedges. We’ve seen this in hyperinflation scenarios like the ones experienced in Zimbabwe and Venezuela. However, the advantages presented by blockchain in terms of accessibility, decentralization, security, and storing value, transcend the economic context of a digital currency. We are witnessing the social potential of an organized crypto community. Crypto Community United for Ukraine Blockchain has shown its potential to create a positive impact in society on different occasions . This time, the world witnessed how celebrities, entrepreneurs, and people from different backgrounds teamed up to create web3 organizations called DAOs to support the Ukrainian people and their embattled government. In a historic moment, Ukraine started to receive contributions on different networks. The Ukrainian government has received around $10M in tokens and NFTs (including CryptoPunk #5364 worth $212,000 approximately) in its Ethereum wallet , most of them collected after announcing a potential airdrop to contributors. The central authority also made available wallets for Bitcoin, Polkadot, and Tron networks. Source: Dune The creation of blockchain wallets by Ukraine is one of the first occasions in which the government of a recognized nation uses cryptocurrencies, joining El Salvador and Venezuela. However, Ukraine’s case marks the first time the government has used them for a humanitarian purpose. Furthermore, established blockchain projects like Uniswap and independent DAOs acting like NGOs joined the Ukrainian cause. UkraineDAO , an initiative started by Pussy Riot , the Russian punk rock group that has faced jail time several times for vocal protests against Putin’s regime, has collected over $7M at writing, which will be entirely destined to aid Ukrainians. Unchain Ukraine , a DAO created by Illia Polusokhin, co-founder of the Near blockchain and experienced web3 individuals, is another example. Unchain Ukraine has collected over $2.1M (most of it in NEAR) and receives donations from nine networks. Source: r eli3f The support in Ukraine’s crisis is also coming from the NFT space. For instance, Reli3f , a humanitarian aid initiative initiated by Andrew Wang and members of the web3 community. This project consists of 7,400 NFTs from 37 different NFT artists, including Fvckrender , Pablo Stanley , and Defaced , and has raised and distributed at least $1M in ETH to support people in Ukraine. NFT artists from different circles have also been quite active. Activist and artist Shepard Fairey will donate the proceeds of hix next collection for the humanitarian crisis in Eastern Europe. Meanwhile, 200 Ukrainian artists from the most renowned art galleries in the country have worked together to create an NFT that will be auctioned later. Source: Elliptic According to Elliptic, Ukraine has received almost $60M in crypto assets from over 118,000 wallets including NFTs, a $5M donation by Gavin Wood, Polkadot’s founder, and a $10M donation by Binance. So, after considering all the macroeconomic implications and realizing the support coming from web3 type of organizations, what can be expected from blockchain and cryptos in the short term? What does it mean for blockchain and cryptos? The crisis will create a domino effect across different industries and consolidate crypto as a potential tool for providing relief to Ukrainians, and average Russian families. The demand for cryptocurrencies has been rising since the latest events, especially in the affected regions. The amount of bitcoin purchased in hryvnias and rubles is at a nine month high. Since February 24, the amount of bitcoin purchased with rubles at least tripled while the demand in Ukraine almost doubled. The surging bitcoin demand triggered a premium of 6% in both regions. WhiteBit in Russia’s case, whereas Binance and Kuna slashed the BTC-UAH trade pair with a 6% premium in Ukraine. Source: Kaiko Due to the sudden increase in the demand for cryptocurrencies, the price of the assets recovered, challenging the bear trend that has been detectable since November. Bitcoin recovered its support line above $38,000, while Ethereum surpassed $2,500. Nonetheless, a highly volatile period is widely expected, bringing an interesting challenge from the trading perspective. Furthermore, the devastating effects of the current commercial situation and the unstable financial environment can trigger consequences that go from people defaulting to larger bank runs and bailouts. This scenario will generate even more distrust into the centralized banking system, paving the way to adopting and recognizing digital assets and cryptocurrencies. However, if Russia opts to go that way, it is not far-fetched that opposing countries might try to ban the cryptos used to circumvent the sanctions, especially if an agreement with China is met. While leading exchanges like Kraken and Binance refused to restrict Russians from using their platforms, companies like OpenSea and Consensys have begun cutting off blacklisted regions. It is also worth mentioning that Russia is no stranger to cryptos. The exact amount of cryptocurrency owned by Russians varies from source to source, going from $22B to $220B or 12% of the world’s crypto assets. Thus, they may be due to considering the digital approach. Besides, Russia is responsible for nearly 14% of BTC’s hash power necessary to mine blocks, the third-largest bitcoin mining hub in the world after the US and Kazakhstan. Disrupted Economies The adoption of blockchain technologies appears to be imminent. Not long ago, in 2019, to be precise, two important JP Morgan Chase executives called bitcoin a fraud and an asset whose value would only thrive in a dystopian environment characterized by a loss of faith in all major reserve assets. Three years later, the stance from one of the U.S.’s leading banks has shifted 180°. JPMorgan is believed to have major stakes at ConsenSys , and also became the first financial institution to formally open a space in the metaverse by revealing the Onyx lounge inside Decentraland. After two years of struggling with a COVID pandemic that disrupted economies, supply chains, and the lives of millions, the war for Ukraine is finding a more digitalized society battling one of the highest inflationary periods in recent years. The financial impact from Russia’s decision will be felt even years from now and can potentially change the traditional finance ecosystem. It is still early to tell the full effects of this conflict and how the world will react. For now, we all are focused on one single thing; the war ends soon with as few lives lost as possible. DappRadar is an NFT and DeFi Dapp platform. Read the original post on The Defiant View comments || Lenox Wealth Advisors, LLC Buys Vanguard FTSE Emerging Markets ETF, iShares Core S&P Total ...: Investment company Lenox Wealth Advisors, LLC ( Current Portfolio ) buys Vanguard FTSE Emerging Markets ETF, iShares Core S&P Total U.S. Stock Market ETF, Chevron Corp, Full House Resorts Inc, Broadcom Inc, sells Invesco BulletShares 2021 Corporate Bond ETF, ServiceNow Inc, Target Corp, iShares MSCI Japan ETF, The Walt Disney Co during the 3-months ended 2021Q4, according to the most recent filings of the investment company, Lenox Wealth Advisors, LLC. As of 2021Q4, Lenox Wealth Advisors, LLC owns 983 stocks with a total value of $838 million. These are the details of the buys and sells. New Purchases: FLL, AVGO, IAU, SLG, VONV, EW, BX, PGPHF, TTSH, PAYC, MC, GOED, CPNG, ESGV, IDNA, IVOO, SSO, VXUS, SRCE, ACAD, ALE, SRPT, ADTN, APD, ALGN, ADS, ALNY, AFG, IVZ, ARCB, MTOR, ABG, ASH, BBY, AX, BWA, BSX, BYD, EAT, BAM, BG, VIAC, CF, CHRW, CNA, CCNE, CTRA, CPT, CP, KMX, CAH, CCL, CNP, LUMN, CAKE, LNG, CINF, CLX, CMA, CAG, GLW, CR, CCK, CFR, DTE, DVA, DISCA, DPZ, EFX, EQT, EQR, EXC, EXPD, FDX, FNF, FE, FLR, FL, GME, IT, GE, GTY, GIFI, HWC, HIG, HXL, HBNC, HBAN, ICUI, IEX, IDCC, IPG, JJSF, JBHT, JNPR, K, KRG, KNX, KFY, KR, KRO, LAMR, LSTR, LNC, MDC, MNKD, MCS, MRVL, MSTR, MCHP, MAA, MT, NDAQ, NFG, NATI, NTAP, NBIX, NXST, JWN, NVAX, OGE, OXY, OIS, OLN, ASGN, PCAR, PTC, PH, PTEN, PENN, PEBO, PLXS, PLUG, PHM, ROP, STBA, XPO, SIRI, SNV, TTWO, TPX, TXT, GEO, TKR, TR, UGI, PAG, UNM, VRSN, WTI, WRB, WBS, WCC, WLK, WY, WTW, WYNN, VIACA, RUSHB, VBIV, PRTK, VVR, QRTEA, LDOS, SPR, ALGT, AIMC, NCMI, BBDC, BGS, TEL, LULU, CIM, ATSAF, APPS, DAN, KDP, LOPE, IOVA, TRNO, SSNC, SIX, GDOT, GM, LPLA, AAT, INN, HCA, ORC, HZNP, APTV, ZNGA, CG, PANW, BLMN, ENTA, TMHC, ESPR, RNG, BURL, CTT, AMC, IBP, TSLX, SABR, FSK, SAGE, WMS, SYF, AFMD, CFG, W, LBRDA, LBRDK, DEA, ETSY, VIRT, TRU, RGNX, PJT, TEAM, BATRA, BATRK, NGVT, TTD, YUMC, AA, HWM, SNDR, OKTA, IR, ATUS, ROKU, MDB, ZS, EAF, DOCU, GH, TCNNF, IAA, DDOG, PTON, BILL, NUMIF, VRM, DKNG, HSAQ, SNOW, U, DASH, UPST, SKLZ, OPEN, RBLX, CION, COUR, DTM, GXO, KD, LYLT, ONL, ARKQ, BITO, BITQ, DFAI, EBND, GSG, HYD, HYLB, IWR, JKF, OEF, PBP, PPA, TNA, VDE, Added Positions: VWO, IEFA, DTH, EFA, IQDF, JPIN, AMZN, ITOT, CVX, AAPL, GOOGL, MUA, ML, QDF, SPEM, SPMD, VNQ, ACN, BRK.B, LHX, LOW, MSFT, NVDA, NOC, PFE, PG, REGN, TSM, YUM, GOOG, DSI, MDY, SCHP, SDY, VCIT, VEA, VTI, VTIP, ABT, ATVI, AMD, A, AKAM, ARE, LNT, AXP, AMT, AMP, ABC, AME, AMGN, APH, ADI, ANSS, AMAT, ADSK, ADP, BLL, BK, BAX, BDX, BIO, BIIB, BMRN, BLK, BA, BMY, BF.B, CMS, CSX, CVS, CAT, CNC, CERN, SCHW, CI, KO, CMCSA, COP, STZ, CPRT, COST, CCI, DHR, DRI, DXCM, DLR, D, DD, EMN, ETN, ECL, EA, LLY, EMR, EPR, EQIX, EL, XOM, FAST, FITB, FISV, FCX, GIS, GILD, GPN, GS, HAL, MNST, HAS, HPQ, HD, HON, HUM, INFO, ITW, ILMN, INTC, ICE, INTU, ISRG, SJM, JNJ, KLAC, MDLZ, LKQ, LRCX, LMT, MMC, MAS, MKC, MCD, SPGI, MCK, MRK, MCO, MSI, NFLX, NEM, NKE, NUE, ORCL, PNC, PPL, PEP, PRGO, PXD, LIN, BKNG, PFG, PGR, QCOM, O, RMD, ROK, ROST, RCL, SBAC, SIVB, SGEN, SHW, SPG, SWKS, LUV, SBUX, STT, SYK, SNPS, SYY, TROW, TJX, TXN, TMO, TRMB, TSN, UAL, URI, VFC, VLO, VTR, VZ, VRTX, VMC, WAB, WMT, ANTM, WDC, WMB, XLNX, EBAY, TDG, JPS, MA, BR, TMUS, DAL, DFS, AWK, V, FTNT, VRSK, DG, FRC, FBHS, PSX, FB, PNR, WDAY, ABBV, NCLH, ZTS, VEEV, TWTR, CHGG, FWONK, KEYS, STOR, GDDY, PYPL, KHC, HPE, SQ, LW, SPOT, MRNA, UBER, CRWD, NET, CARR, OTIS, PLTR, SLVM, BIL, DVY, DXJ, EEM, FNDA, FNDC, FNDE, FNDF, FNDX, GDX, GLD, IBB, ICLN, IEMG, IJJ, IXUS, MUB, SCHA, SCHC, SCHE, SCHF, SCHH, SCHR, SCZ, SPDW, SPIB, TFI, TLTD, VBR, VEU, VIG, VMBS, VNQI, VOO, VTEB, XLE, XLF, XLP, Reduced Positions: SPY, SPLG, NOBL, NOW, TGT, IVV, NMRK, MU, BGCP, WFC, DIS, COF, IWD, IWF, UNH, ADBE, RTX, ARKK, WBA, WPC, MSCI, PM, TSLA, SPLK, ALLE, USFD, DOW, TLT, BNDX, BOTZ, BSV, GOVT, IUSV, IWB, MBB, PUTW, MMM, BHP, GD, F, DUK, CMI, CS, C, FIS, BAC, GPC, TFC, AIG, MO, T, PLD, CB, ABB, UPS, PEAK, WELL, JPM, JCI, KMB, LVS, MDT, MS, NVS, ODFL, PKG, WRK, CRM, TRV, UNP, Sold Out: BSCL, ONLN, EWJ, BOND, EMB, GNLN, BBAX, BBCA, BBEU, BBJP, DRIV, VICI, EMLC, GRI, HAUZ, JNK, RWO, BCE, SPCE, KDMN, PSXP, SCR, XYL, PTMN, TRP, IGR, SQBGQ, VOD, UL, SIEGY, SHLDQ, PWR, DEO, Story continues Warning! GuruFocus has detected 4 Warning Signs with PBR. Click here to check it out. VWO 15-Year Financial Data The intrinsic value of VWO Peter Lynch Chart of VWO For the details of Lenox Wealth Advisors, LLC's stock buys and sells, go to https://www.gurufocus.com/guru/lenox+wealth+advisors%2C+llc/current-portfolio/portfolio These are the top 5 holdings of Lenox Wealth Advisors, LLC iShares Core S&P Mid-Cap ETF ( IJH ) - 477,127 shares, 16.12% of the total portfolio. Shares added by 0.02% iShares MSCI Global Min Vol Factor ETF ( ACWV ) - 971,018 shares, 12.55% of the total portfolio. Shares added by 0.61% S&P 500 ETF TRUST ETF ( SPY ) - 219,624 shares, 12.45% of the total portfolio. Shares reduced by 2.47% BTC iShares Core MSCI EAFE ETF (IEFA) - 810,351 shares, 7.22% of the total portfolio. Shares added by 2.15% SPDR Portfolio S&P 500 ETF (SPLG) - 794,053 shares, 5.29% of the total portfolio. Shares reduced by 1.69% New Purchase: Full House Resorts Inc (FLL) Lenox Wealth Advisors, LLC initiated holding in Full House Resorts Inc. The purchase prices were between $8.55 and $12.35, with an estimated average price of $10.81. The stock is now traded at around $9.430000. The impact to a portfolio due to this purchase was 0.04%. The holding were 30,000 shares as of 2021-12-31. New Purchase: iShares Gold Trust (IAU) Lenox Wealth Advisors, LLC initiated holding in iShares Gold Trust. The purchase prices were between $33.36 and $35.53, with an estimated average price of $34.19. The stock is now traded at around $35.000000. The impact to a portfolio due to this purchase was 0.03%. The holding were 6,434 shares as of 2021-12-31. New Purchase: Broadcom Inc (AVGO) Lenox Wealth Advisors, LLC initiated holding in Broadcom Inc. The purchase prices were between $475.95 and $674.28, with an estimated average price of $564.76. The stock is now traded at around $573.405000. The impact to a portfolio due to this purchase was 0.03%. The holding were 351 shares as of 2021-12-31. New Purchase: Vanguard Russell 1000 Value Index Fund (VONV) Lenox Wealth Advisors, LLC initiated holding in Vanguard Russell 1000 Value Index Fund. The purchase prices were between $68.64 and $73.74, with an estimated average price of $71.65. The stock is now traded at around $73.290000. The impact to a portfolio due to this purchase was 0.02%. The holding were 2,731 shares as of 2021-12-31. New Purchase: SL Green Realty Corp (SLG) Lenox Wealth Advisors, LLC initiated holding in SL Green Realty Corp. The purchase prices were between $67.59 and $77.5, with an estimated average price of $73.19. The stock is now traded at around $78.550000. The impact to a portfolio due to this purchase was 0.02%. The holding were 1,955 shares as of 2021-12-31. New Purchase: ProShares Ultra S&P500 (SSO) Lenox Wealth Advisors, LLC initiated holding in ProShares Ultra S&P500. The purchase prices were between $59.77 and $74.03, with an estimated average price of $68.54. The stock is now traded at around $67.900000. The impact to a portfolio due to this purchase was 0.01%. The holding were 332 shares as of 2021-12-31. Added: Vanguard FTSE Emerging Markets ETF (VWO) Lenox Wealth Advisors, LLC added to a holding in Vanguard FTSE Emerging Markets ETF by 139.76%. The purchase prices were between $47.81 and $51.82, with an estimated average price of $50.01. The stock is now traded at around $50.330000. The impact to a portfolio due to this purchase was 0.22%. The holding were 61,962 shares as of 2021-12-31. Added: iShares Core S&P Total U.S. Stock Market ETF (ITOT) Lenox Wealth Advisors, LLC added to a holding in iShares Core S&P Total U.S. Stock Market ETF by 1348.54%. The purchase prices were between $97.9 and $107.61, with an estimated average price of $104.32. The stock is now traded at around $102.430000. The impact to a portfolio due to this purchase was 0.05%. The holding were 3,969 shares as of 2021-12-31. Added: Chevron Corp (CVX) Lenox Wealth Advisors, LLC added to a holding in Chevron Corp by 153.48%. The purchase prices were between $104.72 and $118.79, with an estimated average price of $113.83. The stock is now traded at around $129.600000. The impact to a portfolio due to this purchase was 0.04%. The holding were 4,801 shares as of 2021-12-31. Added: MoneyLion Inc (ML) Lenox Wealth Advisors, LLC added to a holding in MoneyLion Inc by 396.83%. The purchase prices were between $3.46 and $7.31, with an estimated average price of $5.06. The stock is now traded at around $2.935000. The impact to a portfolio due to this purchase was 0.02%. The holding were 31,300 shares as of 2021-12-31. Added: Blackrock Muniassets Fund Inc (MUA) Lenox Wealth Advisors, LLC added to a holding in Blackrock Muniassets Fund Inc by 214.45%. The purchase prices were between $14.75 and $16.43, with an estimated average price of $15.46. The stock is now traded at around $14.380000. The impact to a portfolio due to this purchase was 0.02%. The holding were 16,367 shares as of 2021-12-31. Added: SPDR Portfolio Emerging Markets ETF (SPEM) Lenox Wealth Advisors, LLC added to a holding in SPDR Portfolio Emerging Markets ETF by 433.29%. The purchase prices were between $40.07 and $43.49, with an estimated average price of $41.91. The stock is now traded at around $42.240000. The impact to a portfolio due to this purchase was 0.02%. The holding were 4,341 shares as of 2021-12-31. Sold Out: Invesco BulletShares 2021 Corporate Bond ETF (BSCL) Lenox Wealth Advisors, LLC sold out a holding in Invesco BulletShares 2021 Corporate Bond ETF. The sale prices were between $21.04 and $21.09, with an estimated average price of $21.07. Sold Out: PIMCO Active Bond ETF (BOND) Lenox Wealth Advisors, LLC sold out a holding in PIMCO Active Bond ETF. The sale prices were between $108.49 and $110.02, with an estimated average price of $109.35. Sold Out: ProShares Online Retail ETF (ONLN) Lenox Wealth Advisors, LLC sold out a holding in ProShares Online Retail ETF. The sale prices were between $55.23 and $71.69, with an estimated average price of $64.48. Sold Out: iShares MSCI Japan ETF (EWJ) Lenox Wealth Advisors, LLC sold out a holding in iShares MSCI Japan ETF. The sale prices were between $65.12 and $69.45, with an estimated average price of $67.62. Sold Out: Unilever PLC (UL) Lenox Wealth Advisors, LLC sold out a holding in Unilever PLC. The sale prices were between $50.61 and $54.06, with an estimated average price of $52.77. Sold Out: SPDR Bloomberg High Yield Bond ETF (JNK) Lenox Wealth Advisors, LLC sold out a holding in SPDR Bloomberg High Yield Bond ETF. The sale prices were between $105.9 and $108.84, with an estimated average price of $107.61. Here is the complete portfolio of Lenox Wealth Advisors, LLC. Also check out: 1. Lenox Wealth Advisors, LLC's Undervalued Stocks 2. Lenox Wealth Advisors, LLC's Top Growth Companies, and 3. Lenox Wealth Advisors, LLC's High Yield stocks 4. Stocks that Lenox Wealth Advisors, LLC keeps buyingThis article first appeared on GuruFocus . || Coinbase Welcomes Former SEC Official Scott Bauguess: Regulation is very important when it comes to new investment assets, such as cryptocurrencies because it gives investors regulatory clarity.
The U.S. Securities and Exchange Commission (SEC) ex-employee announced on his Twitter account that yesterday was his first day atCoinbase. He is now the new VP for Global Regulatory Policy in the cryptocurrency exchange, as you see below:
In his new position, he will work with the authorities in order to have a better regulatory environment for new investors that want to enter the crypto world.
Coinbase keeps investing in its global adoption, last Sunday, Coinbasepaid$14 million on a commercial ad during the Super Bowl game.
The ad was a QR bouncing for 1 minute that gets you to a Coinbase’swebpage. The commercial got so much attention that the ad got 20 million visits in just 1 minute and crashed the website, but moments later Coinbaseannouncedthat they were back online.
Scott Bauguessgraduatedin 1992 as an Electrical Engineer from the University of Illinois Urbana-Champaign.
His previous experience before Coinbase was working 12 years in the SEC.
He was the Deputy Director of the Division of Economic and Risk Analysis for 6 years. Before that, he worked as an Assistant Director and as a Senior Financial Economist in the SEC.
In his earlier days, he worked six years as an electrical engineer atMotorola Solutions. Then he was a Doctoral Candidate at Arizona State University for five years.
Besides his new position at Coinbase, heisa faculty member at the University of Texas’s McCombs Business School.
Last month, Thaya Knight, the former counsel to Commissioner Elad Roisman at the SEC,joinedCoinbase to work as its senior public policy manager. Knight was also the counsel of the SEC Commissioner Hester Peirce between 2018 and 2019.
Earlier this month, Brian Rocha, a formerNetflix, Warner Bros, andThe Walt Disney CompanyemployeejoinedCoinbase as the new Head of Content Strategy.
In September 2021, Shalin Pei, a formerFacebookemployee,joinedCoinbase as its Senior Product Design Manager.
Considering the huge attention of Coinbase’s Super Bowl commercial, there is no doubt Coinbase will keep growing.
Thisarticlewas originally posted on FX Empire
• E-mini S&P Strengthens Over 4470.00, Weakens Under 4419.25
• Why NIO Stock Is Up By 5% Today
• E-mini NASDAQ-100 Could Strengthen Over 14645.50
• Gold Markets Pull Back as Russian Troops Do Same
• Crude Oil Markets Cool Off
• Israeli Court Says Bank Is Allowed To Refuse Bitcoin-Related Deposits || Silver Markets Stabilize and 50 Day EMA in Quiet Trading: Silvermarkets had electronic trading going, but a bulk of the bigger traders were probably on the sidelines as it was a holiday in the United States, being Martin Luther King Jr.’s birthday. That being said, the market seems to be hovering around the 50 day EMA as we have seen previously, which is an area that attracts a lot of technical traders. The question now is whether or not the 50 day EMA will hold as support or resistance? It is kind of an open question at this point, so one should probably pay quite a bit of attention to the idea of a bigger move coming.
If we break down below the lows of the last couple of days, then it is very possible that we could go looking towards the $22 level, an area that of course has been important multiple times as major support. In fact, this area extends all the way down to the $21.50 level, making it more or less a “support zone.” To the upside, if we were to break above the highs of both Thursday and Friday, and basically the $23.50 level, silver could start to take off to the upside and make a bigger move.
Until we make some type of decision, I would stay away from this market, but it certainly looks as if we are about to make that decision relatively soon. With this being the case, I think it is only a matter of time before this market takes off and starts to pick up momentum again. Tuesday should be rather important.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
• Loopring (LRC) Moves to New Lows As Traders Lose Patience Waiting for Catalysts
• Natural Gas Prices Edge Higher as Cold Weather Sets in
• S&P 500 Futures Quiet During Holiday Trading
• UK Sees Highest Global Adoption Ranking for ETH, BTC Still Remains on Top
• Gold Prices Edge Higher on Chinese GDP Beat
• Crypto Spending on Luxury Products Increased by 31% in 2021: BitPay || US Dollar Pulls Back From Highs Against Yen: TheUS dollarhas pulled back a bit against the Japanese yen from the recent highs. The question now is whether or not we are forming a bit of a “double top”, or are we simply pulling back in order to build up a bit of momentum? Interest rate differential would suggest that eventually we break out to the upside but there is also the concern around the world of economic volatility, and that can sometimes favor the Japanese yen.
The ¥115 level underneath should end up being rather supportive, but mainly from a psychological standpoint. The reason I say this is that we have sliced through it a couple of times recently, and that typically takes out some of the importance. Ultimately, this is a market that I think continues to see a lot of noisy behavior, mainly due to the fact that both are considered to be safety currency, but at varying levels.
The 50 day EMA reaching towards the ¥115 level could offer a little bit of support as well, but pay close attention to the 10 year yield, because if it starts to go a lot higher in a very quick amount of time, that will more than likely send this pair much higher as JGB yields are being suppressed by the Bank of Japan. In fact, the Bank of Japan has recently quoted that they are willing to buy “an unlimited amount of bonds” in order to keep yields down. As long as that is the case, this will more than likely end up working in favor of the US dollar over the longer term.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
• Ontario’s Government Freezes Donations for Truckers’ Protest
• Lady Turns $3K Bitcoin to $320K but Israeli Bank Calls for Claim Denial
• Gold Markets Recover After Initial Plunge
• Gold Markets Rally Towards Top of Range During the Week
• Gold Prices Rise and Momentum is Positive
• Preview: What to Expect From Walmart’s Earnings Next Week || Supremacy gaming platform attracts three top industry advisors: Supremacy gaming platform attracts three top industry advisors. Public utility token sale for 24 hours from 9pm PST March 11, 2022 Perth, Australia, March 10, 2022 (GLOBE NEWSWIRE) -- Perth, Australia / Ninja Syndicate announces three new crypto industry partnerships for their metaverse gaming platform as they prepare for their public utility token sale. International cryptocurrency experts Layah Heilpern, Miss Teen Crypto, and Brad Yasar have all joined the Supremacy team as advisors to the blockchain project. Alex Dunmow, Chief Executive of Ninja Syndicate, says adding a line-up of international cryptocurrency experts to the advisory board is proof that Supremacys play-to-earn format is getting widespread industry support. Our advisors are the absolute best and brightest in the crypto space. With their support and guidance, we can truly play 4D chess in the challenging world of metaverse gaming, Dunmow says. The timing couldnt be better as we prepare for our token sale close. Last month, Ninja Syndicate welcomed Mati Greenspan , Founder and CEO of Quantum Economics, as the first advisor to Supremacy game. Each of the industry experts brings a different focus to ensure Supremacy goes from strength to strength. Built for gamers by gamers for a vibrant community Layah Heilpern , author of Undressing Bitcoin: A Revealing Guide to the Worlds Most Revolutionary Asset , says she couldnt say no to the opportunity of joining Supremacys advisory board. The dynamic team behind Supremacy understands the future can be found at the intersection of gaming, community, and crypto, Heilpern says. Supremacy is built for gamers by gamers, so the community around it is vibrant. To invest in Supremacys token, you must play the game. Supremacy solves a clear problem with Play-to-Earn games - its not about speculation of earning a profit with the pre-sale. It truly is play-to-earn. The more invested the users become, the more opportunity for advancement. As the game evolves, the team is committed to a fair game thats fun for experts and novices alike. Story continues Play-to-earn puts Supremacy at the forefront of innovation Brad Yasar is the CEO of EQIFi, the premiere decentralized global banking platform and the first DeFi platform powered by a regulated global bank. He is also the founder of Beyond Enterprizes, a leading blockchain, and fintech advisory firm based in Cheyenne, Wyoming. Brad has over two decades of experience working to expand the new digital economy with a global focus on cryptocurrencies, blockchain, and token powered organizations. Passionate about where technology and world markets collide, the respected media commentator has thrown his support behind the Supremacy gaming platform. "As we work towards a more unified and accessible future, the metaverse is going to become an essential part of our lives, Yasar says. Gaming starting with play-to-earn or play-and-earn models is already proving to be at the forefront of this innovation, and I am excited to play a part in it." Supremacys gaming experience attractive to Gen Z Miss Teen Crypto has long been an advocate for making the metaverse more accessible for Gen Z. An early adopter to using cryptocurrency for everyday transactions, she believes a lower barrier to entry is necessary to make cryptocurrency attractive to her generation. Supremacys low barrier gaming experience and sustainable digital economy assists in that mission. Supremacy is a game that catches one's attention in many ways. From the art to the animation to the play to earn aspect there's just so much to the game that draws people into the ecosystem, Miss Teen Crypto says. It is very detailed in the way it is structured - whether that be tokenomics, the storylines as well as the syndicates in the game. The team is heavily attentive and is eager to grow the game and its community. Token public sale announced The $SUPS utility token public sale is available for 24 hours from 9 pm PST on March 11, 2022. To learn more, visit the Supremacy website: https://supremacy.game/ About Ninja Syndicate: Ninja Syndicate is a game studio based in Western Australia. After building clients software together for the last 5 years, the team founded Ninja Syndicate in 2020 and pivoted to building in the crypto space. The team of game designers, crypto natives and software engineers began the development of Supremacy game early last year before interest in the Metaverse blew up. Now our team of 80 engineers, concept artists, marketers and community developers are fully focused on pursuing their passion in crypto, Web3 and NFTs, striving to bring crypto gaming and the Metaverse to the masses. Media Contact: Lan Tran, Chief Sales Officer Email: Lan@weareninja.com Phone: +61 412 026 208 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. Moreover, nothing contained in this PR should be construed as any recommendation. Readers are encouraged to do their own research.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 41143.93, 40951.38, 41801.16, 42190.65, 41247.82, 41078.00, 42358.81, 42892.96, 43960.93, 44348.73
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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)]
BTC Analysis for 10/09/2020: The 9140 level is a key support And must be maintained in order for our longer term outlook to remain bullish. IF price takes out this level, it will be signaling that Bitcoin is more likely in a broader range rather than a bullish trend. Keep in mind, it is possible that price can establish a reversal formation before reaching the 9140 area. In which case we would be open to a new swing trade long as well. It all depends on the price formation and setup. LINK, LTC, XTZ Another important consideration is that many alt coins like LINK, LTC, XTZ, etc., are showing a similar pattern to Bitcoin which emphasizes that Bitcoin is still the sector leader. IF Bitcoin does not go higher, the entire space is likely to suffer as well. Point being that whether you are in ETH, LTC, or any other coin, essentially, it is all the same trade. This is especially important to understand when it comes to managing risk responsibly. For a look at all of today’s economic events, check out our economic calendar . This article was written by Marc Principato CMT, Executive Director at Greenbridgeinvesting.com. This article was originally posted on FX Empire More From FXEMPIRE: E-mini S&P 500 Index (ES) Futures Technical Analysis – Big Decision for Traders at 3431.25 – 3465.50 AUD/USD Price Forecast – Australian Dollar Stabilizing Snap Could Break Out To New High Silver Price Forecast – Silver Markets Rally Significantly Silver Price Daily Forecast – Weak U.S. Dollar Pushed Silver Above $27.00 GBP/JPY Price Forecast – British Pound Pulls Back Towards 200 EMA || Over $150M Drained in KuCoin Crypto Exchange Hack: Over $150 million of an Asian cryptocurrency exchange’s funds have been compromised in a security breach.
The Singapore-headquartered digital asset exchange KuCoinsaidin a statement that it detected large withdrawals of bitcoin (BTC) and ethereum (ETH) tokens to an unknown wallet beginning at 19:05 UTC time on Friday.
In a live stream on 4:30 UTC time Saturday, KuCoin CEO Johnny Lyu said that one or more hackers obtained the private keys to the exchange’s hot wallets. KuCoin transferred what was left in them to new hot wallets, abandoned the old ones and froze customer deposits and withdrawals, Lyu said.
Related:First Mover: Bitcoin Low Exchange Balance Looks Bullish but Chart Looks Bearish as $11K Nears
KuCoin’s cold wallets were unaffected, Lyu claimed. Cold cryptocurrency wallets are not connected to the Internet and are considered more secure than hot cryptocurrency wallets.
In anupdated statementon its website, KuCoin released a list of BTC, bitcoin SV (BSV), ETH, LTC, XRP, Stellar lumens (XLM), Tron (TRX) and Tether (USDT) wallet addresses where the stolen funds were transferred.
Two Ethereum wallets belonging to KuCoin have sent more than 11,480 ETH, which currently trades at a price of about $350, to theEthereum wallet addressassociated with the hack, according to data from blockchain explorer Etherscan.
The Ethereum wallet address has also received over 150 Ethereum-based tokens worth more than $150 million from the two KuCoin Ethereum wallets, Etherscan’s data shows.
Related:Bitcoin Balances on Exchanges at 2-Year Low and That May Be a Bullish Sign
The other identified wallets have received exactly14,713 BSV,26,733 LTC,18,495,798 XRPand999,160 USDT, along with over1,008 BTC,9,588,383 XLM, and199,038,936 TRX, according to blockchain explorers Blockchair and Tronscan.
The cryptocurrencies are trading around roughly $10,700 per BTC, $165 per BSV, $45 per LTC, $0.25 per XRP, $0.07 per XLM, $0.02 per TRX and $1 per USDT, as of writing.
Tether and several cryptocurrency exchanges such as Bitfinex have blacklisted the wallet addresses, according to the updated statement.
Over 200 cryptocurrency assets trade on KuCoin with a combined daily average volume of around $100 million, ranking it as one of the busiest trading exchanges, according to the cryptocurrency data site CoinGecko.
The price of KuCoin’s exchange token KCS fell by 14% to $0.86 within an hour on Saturday as news of the security breach spread on social media.
KuCoin is investigating the hack with international law enforcement and stolen customer money will be “covered completely” by an insurance fund, Lyu said.
UPDATE (Sept. 27, 2020, 1:00 UTC):Addresses and balances for cryptocurrency wallets associated with KuCoin’s hack have been added.
• Over $150M Drained in KuCoin Crypto Exchange Hack
• Over $150M Drained in KuCoin Crypto Exchange Hack || Robinhood Traders, Including Bitcoin Holders, Left in the Lurch Following Theft: Report: A handful of Robinhood users who said their accounts had been liquidated by thieves recounted less-than-helpful responses by the personal investing fintech in aFriday reportby Bloomberg News.
• Five customers interviewed by Bloomberg claimed Robinhood acted slowly and responded inadequately to heists against their trading accounts, in part because Robinhood has no emergency support line.
• One user, Bill Hurley, a Connecticut metal worker who told Bloomberg he lost $5,000 in stock andbitcoinin a theft, said it took Robinhood two weeks to respond to his requests for assistance.
• Hurley told Bloomberg he had reached out to Robinhood while the thieves were still transferring his funds to a Revolut account. But he said he heard nothing back until Thursday.
• Bitcoin held on Robinhood cannot be transferred off the platform due to regulatory restrictions. It can, however, be cashed out.
• Robinhood told Bloomberg the thieves targeted individuals’ email accounts and did not gain access from an internal security breach.
• “We’re actively working with those impacted to secure their accounts,” the fintech told Bloomberg. Robinhood did not immediately respond to multiple CoinDesk requests for comment.
See also:Robinhood Raises Cool $660M in Extended Funding Round
• Robinhood Traders, Including Bitcoin Holders, Left in the Lurch Following Theft: Report
• Robinhood Traders, Including Bitcoin Holders, Left in the Lurch Following Theft: Report
• Robinhood Traders, Including Bitcoin Holders, Left in the Lurch Following Theft: Report
• Robinhood Traders, Including Bitcoin Holders, Left in the Lurch Following Theft: Report || How to Invest in Cryptocurrency Using Arbitrx's SIP with Peace of Mind: SIP20 is an autonomous crypto-only index fund that tracks the top 20 cryptocurrencies. SIP is the Arbitrx fund’s token, and represents an investor’s share in the fund (NAV). Token-holders are able to liquidate the SIP token for their share of the underlying assets. Also Read | FACT Aiming to Redefine DeFi Lending and Staking with Zero-Interest Loans Why did we create SIP20 ? Cryptocurrencies have ushered in a new paradigm of financial freedom and self-reliance. A diversified, low-cost cryptocurrency investment option should be available to all. Also Read | The Major Upside of Bitcoin – What Does It Mean? What makes SIP20 different from a regular index fund Cryptocurrencies afford us an opportunity to create the world anew. So why are we installing intermediaries and building bloated platforms? By going directly to the end-user as a cryptocurrency itself, SIP20 gives investors the ability to sell or exchange their tokens at will with no exit fees, no platform fees, and no broker fees. We go directly to the end-user by operating as a token If fund management platforms need to take a cut, their token-holders need to take a cut and the fund managers using the platform need to take a cut — how much will be left for the investor? SIP20 disrupts this nascent industry by giving token-holders their fair market return. The cryptocurrency market is rapidly maturing, and there are hundreds of cryptocurrencies for investors to choose from — with more added daily. Choice paralyzes: choice adds cost, complexity and the need for advice. SIP20 eliminates this complexity for the new crypto investor and offers value to the crypto veteran. Cryptocurrency diversification in a proven structure One is now able to invest in the top 20 cryptocurrencies by holding a single token. The top 20 changes over time, and so will SIP20’s holdings — this weekly rebalancing process mitigates risk and volatility. The underlying assets are passively managed, with an index strategy, and there are no expensive legacy banking costs. Story continues As a trustless binance smart chain token, no human interaction, judgment or emotion is involved in the investments — just autonomous adherence to a method judiciously determined via data science. Our white paper presents this method in detail. Cryptocurrencies are volatile , and a fund should leave no room for guesswork. Unique smart function sets a price floor SIP20 will utilize 90% of the SWAP proceeds to buy the underlying crypto-assets. The tokens can be liquidated with the base value of the token at the time of liquidation allowing SIP token-holders to cash out for this underlying asset value at any time. Liquidation is fundamental to what makes SIP20 groundbreaking: it protects the token price and ensures it is never able to fall below the token’s share of the publically audited underlying assets . These tokens will be resold on exchanges so that the overall fund value does not decrease over time. The rise of the index fund The average citizen prepares for retirement and often solicits advice from a broker or other investment professional. Usually, an actively managed fund is promoted and recommended to such people even though ETFs take up to 2.5% in fees, and mutual funds up to 20%, regardless of whether they generated a return, beat inflation or even their own benchmark index. For the five-year period ending in 2015, 84% of large-cap funds generated a return less than the S&P 500. In the 10-year period ending in 2015, 82% of large-cap funds failed to beat the index. The odds of picking a winning fund manager are also low: studies show that irrespective of past performance, future performance is virtually random. Who is protecting consumers from high fees that progressively erode the hope to retire? High fees mean high commissions and thus these are the products that are sold to people seeking advice from finance professionals. Index funds have outperformed the average actively managed fund since their inception, but since they are low-fee funds (0.5% or less of value per annum), they are not as actively promoted. Index funds have beaten the average actively managed fund since inception Index investing has seen exponential growth among investors since John Bogle’s Vanguard Group launched the first index mutual fund in 1976. Passive investment through an index has proven to be a tremendously successful form of investment — the low costs involved in operating an index fund has allowed them to outperform the majority of active managers across market and asset types. Simply, an index fund allows investors to track the market index — the underlying trend behind the selection of assets without being reliant on a particular one. There is no active trading apart from the occasional rebalancing of assets based on predetermined rules. Rebalancing allows the fund to consistently track the mean market performance even if some of the original holdings fall out of favor. The SIP20 index-fund would be the first of its kind — the SIP token is bought with crypto and holds only cryptocurrencies. It will bring stability into the crypto ecosystem, boosting liquidity and providing a suitable option for those who previously felt it was too risky to invest in a single technology. “I believe the long-term results from this policy will be superior to those attained by most investors, whether pension funds, institutions or individuals, who employ high-fee managers.” -Warren Buffett on putting 90% of the amount he is leaving his spouse into index funds Index funds mean lower fees and higher returns We believe the recent appearance of active crypto funds with high management fees (3%+ p/a), exit fees and the inability to trade fund tokens between investors are contrary to the core spirit of crypto — control over your assets and the freedom to move them at will. These funds attempt to exploit the nascent market because of a lack of competition. SIP20 can charge fees of only 0.5% P/A due to its innovative set-up, with no legacy banking costs and full automation. The Financial Research Corporation evaluated the predictive value of different fund metrics such as a fund’s past performance, Morningstar rating, alpha, and beta. In the study, a fund’s expense ratio was the most reliable predictor of its future performance, with low-cost funds delivering above-average performance relative to the funds in their peer group in all of the periods examined. Morningstar performed a similar analysis across its universe of funds and found that, regardless of fund type, low expense ratios were the best predictors of future relative outperformance. Motivation for issuing no further SIP tokens post-SWAP When a fund has stellar performance, it attracts substantial amounts of new money. A manager will most likely have to use that new money to “chase” a relatively small group of coins. This buying pressure can drive up coin prices, forcing the fund manager to pay higher prices than would otherwise be the case. This affects all token holders by reducing the fund’s future gains and is our motivation for a closed-cap fund. SWAPs taking advantage of speculators There is a worrying trend of initial coin offerings (SWAPs) with minimal technical merit attempting to dazzle the potential investor with obtuse platform offerings and a white paper consisting of convoluted mathematical formulae that describe only very basic interactions and perform no function other than to appear complex. White papers are often rushed to market with not much more than a pie chart describing the way the funds will be spent. As a finished product, SIP20 offers value now — not based on selling a potential future income stream that may never materialize. We aim to reverse the trend by using 90% of SWAP funding to buy the underlying crypto assets. Further details are available in our white paper and on our website at https://arbitrx.fund The state of legacy financial investments — anti-consumer Global financial regulations have been built up under the guise of protecting the consumer. Banks and other major financial institutions have been issued with profit-protection “licenses” at the expense of the public — it is practically impossible to innovate in finance without being backed by one of these institutions. Disruption in most other industries does not necessitate the navigation of the same sort of legal minefield that exists in finance. Regulation often makes it prohibitively expensive to even attempt disruption, with licensing and compliance taking years and costing tens of millions of dollars. We have to accept a legacy financial system riddled with exorbitant fees and multiday settlement delays — or — we can choose decentralized cryptocurrency technology. SIP20 will appeal to traditional investors SIP20 is listed on Binance DEX exchanges for trading. Tokens will not be sold beyond the SWAP as it is a closed-cap fund. The total market cap of the S&P 500 is 23 trillion USD — the entire combined crypto market cap is only 0.5% of the S&P 500 cap. The S&P 500 is itself only a representation of a small part of the global investment market. The crypto market can thus still expect very significant growth and exposure to crypto returns with broad, diversified risk and a straightforward and transparent approach will drive fiat investors into this new type of fund. We will heavily promote the fund to fiat investors via marketing and investor outreach, and the only opportunity to purchase these fund tokens will be on exchange from SWAP participants — highlighting the real demand for reduced risk crypto investments, while simultaneously creating value for investors. Fund promotion will only take place in non-regulated markets and markets where participation is not forbidden or likely to be forbidden in the near future. SIP20 intends to fully comply with any local legislation prohibiting participation. SIP20 aims to bring cryptocurrency investment into the mainstream SIP20 is poised to set a new standard for cryptocurrency investments. As a transparent, secure and directly asset-linked ‘token-as-a-fund,’ SIP20 aims to bring low-fee, broad market exposure crypto investment to the mainstream with its innovative single token offering. Owning a diverse cryptocurrency portfolio is now as easy as holding a single token . Cryptocurrencies represent a new kind of freedom; we should not take it for granted and make the same mistakes as our predecessors did when creating the legacy banking system. Support building the ecosystem the right way — without middlemen. || ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / October 14, 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 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. 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/610512/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || Why Bitcoin’s Longest Run Above $10,000 Matters: Bitcoin has been above $10,000 for even longer than the record 2017-18 run, giving confidence to long term HODLers in the process.
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This episode is sponsored byCrypto.com,BitstampandNexo.io.
• After four weeks down, bitcoin bounces back on suspicions that recent bearishness was overblown
• KuCoin exchange gets hacked for somewhere between $150 million and $280 million
• Jack Dorsey outlines Twitter’s blockchain and bitcoin beliefs during Oslo Freedom Forum appearance
Related:First Mover: Binance CEO Sees Future in DeFi While Bitcoin Volatility Turns Minuscule
See also:Understanding the Coming Currency Cold War
Bitcoin has been above $10,000 for longer than any time in its history. Its volatility is also at recent historic lows. In this episode, NLW puts this in the context of broader market movements and explains why new price floors are self-reinforcing.
• Why Bitcoin’s Longest Run Above $10,000 Matters
• Why Bitcoin’s Longest Run Above $10,000 Matters
• Why Bitcoin’s Longest Run Above $10,000 Matters || Market Wrap: Bitcoin Tests $12K; Ethereum Fees Fall to 3-Month Low: Bitcoin’s price passed $12,000 for the first time since September as Ethereum fees dipped. Bitcoin (BTC) trading around $11,910 as of 20:00 UTC (4 p.m. ET). Gaining 1.8% over the previous 24 hours. Bitcoin’s 24-hour range: $11,673-$12,058 BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin’s price continued to make gains Tuesday following Monday’s steady price appreciation . The world’s oldest cryptocurrency breached $12,000 around 17:00 UTC (1 p.m. ET), going as high as $12,058 before settling in at $11,910 as of press time. The last time bitcoin was over $12,000 was back on Sept. 1, according to Bitstamp spot pricing. (CryptoCompare, using index-weighted pricing, puts it at Aug. 19 .) David Lifchitz, chief investment officer at ExoAlpha, says bitcoin could hit $12,500 at some point soon but will face a struggle. “The real resistance level is around $12,500-ish, so until a meaningful breakout above that level, nothing is done, $12,000 is just a psychological level.” Related: Nigeria Protests Show Bitcoin Adoption Is Not Coming: It's Here Lifchitz said that while the price level is notable, it could lead to bitcoin staying in a sideways pattern around this level similar to when it crossed $10,000. “Bitcoin, having held above $10,000 for more than two months in a row, was a bullish sign, even if it had been trading sideways in a $2,000 range.” Nevertheless, the last time bitcoin traded below $10,000 on the spot market was back on Sept. 9. This piece of data appears to be bolstering some investors’ faith. “We continue to break the record each day for the longest streak a bitcoin trades above $10,000, so overall investor confidence is growing I think,” said Michael Gord, chief executive officer of trading firm Global Digital Assets. Read More: Crypto-Friendly Signature Bank Raked In $4B in Deposits in Q3 2020 Story continues Related: Bitcoin Hits Fresh 2020 High Bill Noble, cryptocurrency strategist for analysis firm Token Metrics, said momentum is shifting from Ethereum-based decentralized finance, or DeFi, to bitcoin. “ETH and DeFi are watching BTC awaken like a sleeping giant,” he said. “The BTC move to $12,000 is sending the altcoin universe scrambling for cover.” Bitcoin dominance, a metric that calculates the cryptocurrency’s share versus other assets on the market, has been trending up since the start of October. The last time dominance was at this level was at the end of August. “Although there is positive sentiment around BTC, bull runs usually lead to a bear market in alt coins,” noted Melvis Langyintuo, a market strategist for the San Francisco-based cryptocurrency exchange OKCoin. Market conditions may mean DeFi discounts could develop for traders, Token Metrics’ Noble noted. “A BTC move above $12,000 could result in a DeFi dip that could be bigger than most expect,” he said. “Any such move could be a golden opportunity to pick up the survivors of the DeFi shakeout at discounted prices.” Ethereum fees get cheap – for now The second-largest cryptocurrency by market capitalization, ether (ETH), was down Tuesday trading around $369 and slipping 2.6% in 24 hours as of 20:00 UTC (4:00 p.m. ET). Read More: Validators Drop Off Ethereum 2.0 Testnets as Mainnet Release Looms On Saturday, Oct. 17, the daily average fee on the Ethereum network hit a three-month low, at 0.00246199 ETH. That’s a level not seen since July 12 when the average was 0.00211437 ETH. Fees, which are trending back up from Sunday’s low, are required on Ethereum to send transactions, including to smart-contract based DeFi platforms. Jean-Marc Bonnefous, managing partner of Tellurian Capital, an investment firm that has followed cryptocurrencies since 2014, said deflation of DeFi hype is causing fees to go down. “Gas fees are lower as the recent enthusiasm for DeFi tokens, [decentralized exchanges] and [automated market makers] has hit a wall for now,” Bonnefous told CoinDesk. If DeFi heats up again, expect higher fees, Bonnefous added. “We could be in for a few weeks of consolidation before another push higher for DeFi tokens, which will most likely see gas costs flaring again. The problem of high gas fees won’t go away without structural enhancements.” Other markets Digital assets on the CoinDesk 20 are mixed, mostly red on Tuesday. Notable winners as of 20:00 UTC (4:00 p.m. ET): tron (TRX) + 0.64% Notable losers as of 20:00 UTC (4:00 p.m. ET): chainlink (LINK) – 8.6% zcash (ZEC) – 8.2% 0x (ZRX) – 7.2% Read More: Uniswap’s First Governance Vote Ends in Ironic Failure Equities: The Nikkei 225 in Asia closed in the red 0.44% as Japanese regulators plan to conduct an exchange review after a technical glitch shut down the market Oct. 1 . The FTSE 100 ended the day flat, in the green 0.07% as new coronavirus infections in Europe hit a new high on Monday . In the United States the S&P 500 gained 1.2% as progress towards a fiscal stimulus deal in the face of rising coronavirus cases boosted investor optimism . Commodities: Oil was up 2%. Price per barrel of West Texas Intermediate crude: $41.49. Gold was in the green 0.32% and at $1,909 as of press time. Treasurys: U.S. Treasury bond yields were mixed Tuesday. Yields, which move in the opposite direction as price, were down most on the two-year bond, dipping to 0.145 and in the red 5.2%. Related Stories Market Wrap: Bitcoin Tests $12K; Ethereum Fees Fall to 3-Month Low Market Wrap: Bitcoin Tests $12K; Ethereum Fees Fall to 3-Month Low || The Crypto Daily – Movers and Shakers – October 16th, 2020: Bitcoin, BTC to USD, rose by 0.60% on Thursday. Following a 0.02% decline on Wednesday, Bitcoin ended the day at $11,509.0.
It was a bearish start to the day. Bitcoin fell to a late morning intraday low $11,277 before making a move.
The morning pullback saw Bitcoin fall through the first major support level at $11,311.
Finding support going into the afternoon, however, Bitcoin struck a late intraday high $11,632.
Bitcoin broke through the first major resistance level at $11,566 before falling back to sub-$11,500 levels.
Finding late support, however, Bitcoin broke back through to $11,500 levels to end the day in the green. Resistance at $11,500 continued to peg Bitcoin back, however.
The near-term bullish trend remained intact, supported by the latest move back through to $11,000 levels. 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.
Binance Coin (+1.69%), Bitcoin Cash ABC (+1.04%), and Bitcoin Cash SV (-0.14%) joined Bitcoin in the green.
It was a bearish day for the rest of the majors.
Polkadot led the way down, falling by 3.00%.
Chainlink (-1.20%), and Ripple’s XRP (-1.23%) also struggled.
Cardano’s ADA (-0.36%), Crypto.com Coin (-0.29%), Ethereum (-0.28%), and Litecoin (-0.46%) saw relatively modest losses on the day.
In the current week, the crypto total market slid to a Monday low $344.29bn before rising to a Monday high $365.23bn. At the time of writing, the total market cap stood at $353.67bn.
Bitcoin’s dominance fell to a Monday low 59.47% before rising to a Thursday high 60.21%. At the time of writing, Bitcoin’s dominance stood at 60.19%.
At the time of writing, Bitcoin was down by 0.06% to $11,502.0. A mixed start to the day saw Bitcoin fall to an early morning low $11,489.0 before rising to a high $11,512.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day for the crypto majors.
Cardano’s ADA (-0.64%), Chainlink (-0.61%), Ethereum (-0.10%), Litecoin (-0.26%), Polkadot (-0.15%), and Ripple’s XRP (-0.09%) joined Bitcoin in the red.
At the time of writing, Binance Coin was up by 0.56% to lead the way. Bitcoin Cash SV (+0.19%) and Crypto.com Coin (+0.14%) also found early support.
Bitcoin would need to avoid a fall through the pivot level at $11,473 to bring the first major resistance level at $11,668 into play.
Support from the broader market would be needed, however, for Bitcoin to break back through to $11,600 levels.
Barring an extended crypto rally, the first major resistance level and Thursday’s high $11,632.0 would likely cap any upside.
In the event of another crypto breakout, Bitcoin could test resistance at $11,900 before any pullback. The second major resistance level sits at $11,828.
Failure to avoid a fall through the $11,473 pivot would bring the first major support level at $11,313 into play.
Barring an extended crypto sell-off, Bitcoin should to steer clear of the second major support level at $11,118.
Thisarticlewas originally posted on FX Empire
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• PNC Financial Third Quarter Profits Swell as Loan Provisions Shrink; Target Price $138 in Best Case || MXC Exchange Launches "MX DeFi" Yield Farming to Remain the top Centralized DeFi Token Supporter: SINGAPORE / ACCESSWIRE / October 14, 2020 /MXC(www.mxc.com), a leading and reputable cryptocurrency provider of spot, margin, contract, leveraged ETF, index products, contract, PoS staking, and OTC services showcases its unique approach to decentralized finance (DeFi). The transition from traditional yield mining to MX DeFi has been incredibly successful, further illustrating the company's commitment to innovation.
Source:https://www.mxc.com/mx-defi/list
MXC is Ahead of the Rest
The past few months have been incredibly exciting for anyone interested in decentralized finance, or DeFi. Many projects have launched this year, and more of them are still in the pipelines. Numerous tokens obtained a listing on MXC first (including PNK, COMP, LEND, POLS, and many others), as the company has beaten its competition hands-down in this segment.
The tokens listed on MXC ahead of platforms such as OKEx, Huobi, or Binance have all gone through significant value increases. This has been appreciated by the growing MXC Exchange community. Ultimately, all other major exchanges listed the tokens as well, leaving less room for profit for enthusiasts.
So far, MXC has beaten its competitors to listing for over a dozen different DeFi tokens. That list will keep increasing as more time progresses. Keeping the finger on the DeFi pulse is crucial for any exchange trying to make a lasting impact on cryptocurrency enthusiasts.
Supporting new DeFi Projects and Tokens
Outperforming the competition requires an open mind toward new concepts and industries. MXC Exchange has become one of the biggest service providers in Asia. Adding support for DeFi projects and yield farming to the growing list of services strengthens the company's position on the market.
MXC Vice President of Global BusinessKatherine Dengstates:
"We are always open-minded toward potential trends in the broader cryptocurrency and blockchain space. DeFi assets are in high demand, and we strive to offer our customers what they desire. This approach allows us to introduce clients to new DeFi projects and assets, all the while providing a safe yield mining environment. Our state-of-the-art Impermanent Loss Compensation ensures token volatility is never a concern."
As cryptocurrency enthusiasts actively seek out the next potential DeFi "unicorn", they need access to new tokens at an early stage. MXC Exchange provides users with everything they need, as it removes the barriers to entry often faced when dealing with DEXes. This has resulted in a much higher trading volume on the platform, as well as a growing appreciation for the various DeFi efforts launched by the company.
In turn, MXC Exchange has already made the transition from yield mining to MX DeFi. Shifting the focus to a more accommodating and modern business model puts the platform several steps ahead of other exchanges. All aspects related to this transition - user feedback, lock-up funds, and overall social activity - confirm the switch to MX DeFi is exactly what the users wanted.
MX DeFi is the Future
To cater to the needs and wants of cryptocurrency enthusiasts, MXC Exchange initially launched two yield mining projects. BothFRONTandPOLS, which were supported by this exchange well before anyone listed them - saw plenty of enthusiasm from community members. The yield mining projects turned out to be a huge success, but MXC noted there was room to take things one step further.
Ever since MX DeFi has been introduced, the increase in locked-up funds has been notably higher. New projects such asDeFiner, Chicken Finance, and BTCTRONhave all seen ample liquidity support. Combined totals for these three projects top $20 million, with BCTRON reaching its cap of 6.4 million USDT within the first 30 minutes. A further testament to how MX DeFi is shaping the future of decentralized finance yield mining.
What's more, the BTCTRON mining project is supported by Tron Foundation official.
Source: https://twitter.com/MXC_Exchange/status/1316055818546999296
Further, MXC exchange is world's first to enable $BTCTRON deposit & withdrawal service, which is also re-tweeted by Justin Sun, founder of the TRON and current CEO of BitTorrent.
Source:https://twitter.com/justinsuntron/status/1316067649420357632
Giving users different choices and options is what decentralized finance is all about. Through MX DeFi, users can mine BTCTRON - a TRC-20 tokenized version of Bitcoin - as well as KFC and FIN tokens. All they need to do is lock their MX, USDT, or ETH assets in the pool. None of the DeFi assets have a hard cap, allowing for users to earn unlimited rewards. All locked tokens can be withdrawn in a flexible manner.
On that topic, MXC Exchange users can benefit from MX DeFi and yield farming without worrying about price drops. If the mined token drops in value, users will be covered by MXC's Impermanent Loss Compensation. In short, the company offsets profits or covers outstanding losses through its standby fund.
MXC Exchange is the only trading platform offering such lucrative yield farming options to its users. The company's mission is to empower the user first and foremost.
MXC Exchange Vice president of Global OperationsAlexadds:
"At MXC, we are 110% committed to provide our users with the best and safest trading experience. Decentralized finance is the most popular trend in cryptocurrency right now. Our dedication to supporting up-and-coming projects creates a win-win-win situation for us, our users, and the innovative DeFi projects."
About MXC Exchange
Established in April 2018, MXC Exchange is one of the world's leading digital-asset trading platforms which offers users one-stop services including spot, margin, leveraged ETF, derivatives trading and staking services. The core members of the team come from world-class enterprises and financial companies, who have rich experience in blockchain and financial industries. We offer the most comprehensive marketplace where global crypto traders, miners and institutional investors come to manage crypto assets, enhance investment opportunities and hedge risks, and formulate their strategies to maximize gains and mitigate risks.
Contact:AlexEmail:media@mxc.comOfficial Website:www.mxc.com
SOURCE:MXC exchange
View source version on accesswire.com:https://www.accesswire.com/610437/MXC-Exchange-Launches-MX-DeFi-Yield-Farming-to-Remain-the-top-Centralized-DeFi-Token-Supporter || ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / October 23, 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
[["Digital Asset", "Pair", "Price", "24hr Chg", "7d Chg", "24/hr Volume", "MarketCap"], ["Bitcoin", "BTC/USD", "$12,905.52", "-$0.01", "$0.14", "$30,943 M", "$239,074 M"], ["Ethereum", "ETH/USD", "$409.34", "-$0.02", "$0.11", "$14,069 M", "$46,308 M"], ["XRP", "XRP/USD", "$0.25", "-$0.03", "$0.05", "$2,436 M", "$11,483 M"], ["Bitcoin Cash", "BCH/USD", "$269.96", "$0.00", "$0.07", "$2,990 M", "$5,008 M"], ["Litecoin", "LTC/USD", "$55.57", "$0.01", "$0.17", "$3,734 M", "$3,652 M"], ["Bitcoin SV", "BSV/USD", "$164.54", "-$0.04", "$0.02", "$1,115 M", "$3,052 M"], ["EOS", "EOS/USD", "$2.64", "-$0.02", "$0.04", "$2,111 M", "$2,473 M"], ["Monero", "XMR/USD", "$125.52", "-$0.02", "$0.04", "$827 M", "$2,226 M"], ["Stellar", "XLM/USD", "$0.08", "-$0.02", "$0.11", "$163 M", "$1,755 M"], ["Dash", "DASH/USD", "$72.13", "-$0.05", "$0.09", "$385 M", "$705 M"], ["WWW.ALT5SIGMA.COM", "WWW.ALT5PRO.COM", "WWW.ALT5PAY.COM"]]
About 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.
For more information, visitwww.alt5sigma.com.
Contact:
Andre BeauchesneTel. 1-800-204-6203info@alt5sigma.com
For more information on ALT 5 Pay, visitwww.alt5pay.comFor more information on ALT 5 Pro, visitwww.alt5pro.com
SOURCE:ALT 5 Sigma Inc.
View source version on accesswire.com:https://www.accesswire.com/612000/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: up || Prices: 13550.49, 13950.30, 14133.71, 15579.85, 15565.88, 14833.75, 15479.57, 15332.32, 15290.90, 15701.34
|
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 2016-08-18]
BTC Price: 574.32, BTC RSI: 38.30
Gold Price: 1351.20, Gold RSI: 57.07
Oil Price: 48.22, Oil RSI: 65.66
[Random Sample of News (last 60 days)]
Traders say it might be time to buy into tech after NASDAQ hits 2016 highs: The " Fast Money " traders are keeping an eye on the big tech names, after the technology-heavy NASDAQ (NASDAQ: .IXIC) saw its highest levels of the year on Tuesday. Trader Pete Najarian said that technology and biotechnology companies could help drive the NASDAQ higher, especially if giants like Microsoft (NASDAQ: MSFT) and Apple (NASDAQ: AAPL) start participating in the rally. Trader Dan Nathan said he likes PayPal (NASDAQ: PYPL) because of "interesting secular things going on in e-payments." Another stock he likes is JD.com (NASDAQ: JD) , even though the "fundamentals haven't been fantastic." Nathan said that JD is a company is well-positioned. Trader Brian Kelly said that he is less confident in tech's potential. "If you're buying into tech and you're buying into dividend stocks, you just need to know that you're buying into a bubble. That doesn't mean that it can't go higher. Bubbles go on for a long time, a lot longer than most people can stay short them," Kelly said. He said he would rather look at securities outside the United States, especially in Japan. "To me, what happened in Japan over the last couple days could be game changing, so I would look towards Japan," Kelly said, adding that in particular he would look at the WisdomTree Japan Hedged Equity Fund (NYSE Arca: DXJ) . Disclosures: PETE NAJARIAN Long stock: AAPL, BAC, BMY, CSCO, DIS, DISCA, GE, KMI, KMI.A, KO, LUX, MRK, PEP, PFE, SAVE, VIAB, ZIOP Long Calls: AAL, AKS, AMJ, CHK, CLF, CNX, CSX, DAL, EGO, GSAT, HBAN, HOG, INTC, KGC, LLY, MT, MU, NLNK, P, SBUX, SLV, SLW, SVU, TMUS, WLL, XLE, YELP. Long Puts: BID, CS,GM, NAV, NLY TIM SEYMOUR Tim Seymour is long APC, AVP, BAC, BBRY, CLF, DO, EDC, EWZ, F, 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, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, YHOO, short HYG, IWM Story continues BRIAN KELLY Brian Kelly is long Bitcoin, DXJ, GLD, MOS, POT, SLV, XME, US Dollar UUP; he is short WTI crude, Swiss franc, euro and Japanese yen. DAN NATHAN Dan Nathan is Long JD Aug call spread, Long PFE, Long TWTR, BABA Aug put spread, 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, SPY long Sept put spread, BAC long Sept puts. More From CNBC Top News and Analysis Latest News Video Personal Finance || Traders: Here's where to find some protection for your portfolio ahead of Brexit: The " Fast Money " traders debated which securities were best for padding portfolios with some near-term protection ahead of the vote in the U.K. on whether or not to leave the European Union. The CBOE volatility index (INDEX: .VIX) hit a high of 21.19 on Wednesday, ahead of the referendum vote. Trader Steve Grasso said that the utilities, consumer staples, gold and dividend yielding securities will likely be repurchased after the decision. Gold is a good play, according to trader Guy Adami. Overall, he believes that global slowdown and deflationary pressure are playing a bigger role in international markets than Brexit. Trader Dan Nathan said that he is watching the iShares 20+ Year Treasury Bond ETF (NASDAQ: TLT) (TLT) because of past price action during catalytic events. "When you think back to August, when we really saw risk asset volatility go berserk, we had this spike to new all-time highs or multi-year highs in the TLT and then that came off, and it came off really hard once things calmed down," he said. "The same thing happened in February." Trader Brian Kelly said that the European banks are at risk of selling off because of the recent rally in those names. Deutsche Banke (XETRA: DBK-DE) , Credit Suisse (Swiss Exchange: CSGN-CH) and UBS (Swiss Exchange: UBSG-CH) are all up double digits in the last week. Kelly said he may be looking to increase his short positions in those stocks. Disclosures: Guy Adami Guy Adami is long CELG, EXAS, GDX, INTC. Guy Adami's wife, Linda Snow, works at Merck. Steve Grasso Steve Grasso is long BA, CC, EVGN, GDX, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, UA. Steve Grasso's Kids are long EFA, EFG, EWJ, IJR, SPY. Stuart Frankel & Co Inc. and some of its Partners are long AAPL, AMZN, AVP, CUBA, CVX, DAL, FCX, HSPO, IBM, ICE, KDUS, KO, LDP, LUV, MAT, MCD, MJNA, NE, NEM, NXTD, OLN, OXY, RIG, STAG, TAXI, TEX, TITXF, UAL, URI, VALE, WDR, WYNN, ZNGA. Brian Kelly Brian Kelly is long Bitcoin, GLD, SFK, SLV, TLT, US Dollar UUP. He is short CS, DB, UBS Story continues Dan Nathan Dan Nathan is BABA June/Aug put spread, JD Call spread Long PFE, Long TWTR, IWM long Sept put, XLF long Sept Put spread, XLK long Sept Put spread, FXI long Aug put spread, SMH long Aug put spread, long PYPL call calendar, long TLT Sept risk reversal, XLV July calls, long C Sept puts, VZ July August put spread. More From CNBC Top News and Analysis Latest News Video Personal Finance || LexisNexis Risk Solutions and start-up join to curb bitcoin money-laundering: (This August 2 story has been corrected to amend company name to LexisNexis Risk Solutions from LexisNexis) 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 Risk Solutions 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 Risk Solutions, 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 toward 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. Story continues "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) || First Bitcoin CapitalCorp. FINRA approved Name Change is effective as of today: VANCOUVER, BC / ACCESSWIRE / August 15, 2016 /FIRST BITCOIN CAPITAL CORP. (OTC markets: BITCF), announced today that FINRA (Financial Industry Regulatory Authority) has approved its name change to FIRST BITCOIN CAPITAL CORP from Grand Pacaraima Gold Corp. The change will be reflected at the opening of the market today, August 15th, 2016. For shareholders, the name change has no effect on the stock that is held. The name will automatically change in shareholders' brokerage accounts and the amount of shares will remain unchanged.
All shareholders are asked to update their email addresses in order to receive Company electronic communications and further instructions. Kindly send an email to us via:info@bitcoincapitalcorp.com
The company is excited to announce that it has developed for its own account and third parties certain crypto currencies such as TeslaCoil Coin (trading symbol TESLA), President Clinton coin (trading symbol HILL), President Trump coin (trading symbol PRES) , President Johnson (trading symbol GARY). These last three digital crypto coins -we believe to be history's first commemorative election coins trading as crypto currencies and public interest in these commemorative coins may increase as the election process comes to a close with the winning candidate's coin showing the most interest. These currencies have been launched using the OMNI protocol, developed by OMNI FOUNDATION and ride on the rail of the Bitcoin blockchain.
We also believe that we are history's first publicly traded company to develop a blockchain for our shares to dually trade both in a traditional market (OTC Markets) and on crypto currency exchanges, such as company's own cryptocurrency exchange COINQX. Our crypto currency symbol is: BIT
About the company:
First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange-www.CoinQX.comWe see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new type of digital assets. "Being first publicly-traded cryptocurrency and blockchain-centered company we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies." At this time Company owns and operates the following digital assets.
1. www.BITCoinCapitalcorp.comcompany website.
2. www.CoinQX.comCompany operated Cryptocurrency Exchange, registered with FINCEN.
3. www.iCoiNEWS.comreal time cryptocurrency and bitcoin news site
4. www.BITminer.cccompany provides mining pool management services.
5. www.2016coin.orgonline daily election coverage and home page for $PRES,$HILL and $GARY coins
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com.
SOURCE:First Bitcoin Capital Corp. || LinkedIn founder and billionaire investor Reid Hoffman: 'I'm optimistic' about the next 100 years: (Mike Nudelman/Business Insider)
Reid Hoffman was one of the first people to have the idea that the internet could be used to connect large numbers of like-minded people together, founding a short-lived social platform called SocialNet in 1997.
After an executive stint at online payments innovator PayPal, Hoffman turned that insight into LinkedIn, which launched in 2002 and has since become the default online venue for job hunting and making professional connections, fetchinga price tag of $26.2 billionwhen it was bought by Microsoft this June.
Hoffman is still the chairman of LinkedIn, and has also become one of the most prolific investors in Silicon Valley, with early bets on big winners like Facebook and Airbnb. He runs an early-stage startup fund for Greylock, a top Silicon Valley VC, serves on the boards of a number of nonprofits likeDo Something, and he's recently been teaching a course at Stanford, “Blitzscaling,” that shows startups how to grow fast.
Hoffman is featured in our inaugural edition of theBI 100: The Creators, which celebrates business leaders who create many types of value in society. We interviewed him via email prior to the Microsoft-LinkedIn deal to learn more about his view of entrepreneurship, capitalism, and the future:
Matt Rosoff:I've seen you quoted as saying you wanted to make a big impact on the world. Explain what that meant to you when you graduated from Stanford, and how your position evolved to encompass entrepreneurship.
Reid Hoffman:As a child, I wondered often: “Why are we? What is the meaning of life?” These questions made me realize that life is what has meaning — not just individual lives, but all of our lives. Coming out of Stanford, I hoped to contribute to these questions as an academic and a public intellectual: to write essays and books about who we are and who we should be, both as individuals and a society. Then, at Oxford, I realized that being an academic conflicted with being a public intellectual: writing books on scholarship for dozens of people vs. writing books for society.
On reflection, I realized that I could focus on software instead of books, business instead of the academy, and products informed by theories instead of just theories. With the change of focus, I could move from writing scholarship that dozens might read, to books that thousands might read, to software that millions to billions might use. Thus, I could help enable better meaning of life for many people at scale.
PayPal was disruptive, it was democratizing, and it had universal appeal.
Rosoff:PayPal was outsized in its later influence in Silicon Valley — it spawned a lot of great entrepreneurs and operators. Why? What was special about it?
Hoffman:Even by Silicon Valley standards, PayPal's vision was massively ambitious. We described PayPal on our company t-shirts as “the global payment operating system.” We wanted to build a 21st century payments system that went beyond the credit cards, merchant terminals, and ATM infrastructure that the finance industry's established players had built. We wanted to create a service that would let people exchange money as easily as the internet was letting them exchange information. PayPal was disruptive, it was democratizing, and it had universal appeal. It gave power to millions and millions of individuals and reduced monopolist control from nations, banks, and other huge corporations. Our experience with PayPal showed us how to think big and how to keep massive ambition for impact. As the PayPal experience was very fast – about four years – we all graduated with experience, resources, ambition, and youth. Thus, a number of us went on to create Yelp, YouTube, Yammer, and LinkedIn.
(Peter Thiel and Elon Musk, two of the other top Silicon Valley entrepreneurs to emerge from PayPal.PAUL SAKUMA/AP)
Rosoff:What did you personally learn at PayPal about impact that you've been able to carry forward?
Hoffman:At PayPal, we had a window of opportunity – to scale up a new digital payments system on a global level before huge companies with far more resources and experience in the payments industry truly understood what was possible. So we learned to move boldly, decisively, and fast. At PayPal, we helped pioneer the idea that growth is the foundation for an internet company. The faster we got to scale, the stronger we created network effects, the more enduring business that we created.
Another thing few people realize is that PayPal centrally depended on the power of networks. By 2001, we had a pretty big fraud problem, where international crime rings were using stolen credit card numbers to make payments to dummy accounts, and leaving us on the hook for these charges after withdrawing the money. But because all these transactions were happening on a single networked platform, we could map how all the different accounts were interacting with each other. So we were able to develop a fraud-monitoring system that identified the various patterns that were associated with fraud, and in time we got very good at preventing fraudulent transactions.
And that was a key personal lesson to learn: a network of identities, communications, and transactions can be a platform for a number of applications. In PayPal, we had payment but also identity and anti-fraud. When you build a platform that creates all kinds of relationships and enables a huge number of interactions of one kind or another, the data that it generates ends up creating all kinds of strategic advantages. You see that in many of our post-PayPal businesses: Linkedin, Youtube, Yelp, Affirm, etc.
Rosoff:You founded a social network, SocialNet, in the 1990s, well before Facebook, MySpace, and Friendster. Then again with LinkedIn. Why were you drawn to that kind of business? What's interesting about it?
Hoffman:SocialNet emerged from those questions I mentioned earlier that have always compelled me. What is a meaningful life, and what kinds of social systems enable it?
Broadly, the meaning of life comes from how we interact with each other. The internet can reconfigure space, so that the right people are always next to each other. The internet was this new medium where anyone could be a publisher, so what did that mean? What kinds of information would people want to publish about themselves? Traditionally, publishers had often built communities of interest around specific topics. But that didn't mean all the people who were subscribing to Golf Magazine could easily find each other. But the internet made that possible.
Broadly, the meaning of life comes from how we interact with each other.
The theory behind SocialNet was that the web wasn't just a place where traditional publishers could distribute content more efficiently, or where readers would just have more opportunities to comment on stories that professional writers had written. The web was a place where millions and millions of people would create their own media identities, share information about themselves, and look for opportunities to connect with each other in ways that could truly enhance their lives. Socialnet also started with a particular set of key relationships in human life: dating, work, social, and living (roommates).
LinkedIn then focused on one deep aspect of life: work. Especially in its early days, a lot of people just thought of it as a place to post your resume when you were looking for a job. In reality, it was an identity platform for professionals, a place where you shared information about yourself so you could be found and find others, and thus develop connections and relationships that would enrich your professional life in all sorts of different ways. Your identity and network became the platform to amplify your professional life overall, to connect you with opportunity and success.
Rosoff:Does LinkedIn have a larger mission than providing shareholder returns? What is it? And how does a company balance the need to provide profits and shareholder returns with larger missions?
Hoffman:This question implies a tension between "a larger mission" and "shareholder returns." I disagree; instead, I see a synergy. First and foremost, our mission is to create economic opportunity for every member of the global workforce, by building the world's best platform for sharing professional identity, finding job opportunities, learning more about specific companies and industries, and developing new skills. And because our larger mission has led to a product that brings hundreds of millions of users serious economic value, we're able to monetize it in ways that generate strong returns for our shareholders as well. Mission reinforces shareholder return; business model reinforces mission.
Rosoff:How have you taken the lessons you learned at both PayPal and LinkedIn and applied them to your investment decisions?
Hoffman:Because of my experiences with PayPal and LinkedIn, I look for ideas that can solve a need for hundreds of millions of people. While achieving scale fast was also a priority for both these companies, there were also strong long-term visions informing them from the very start. At LinkedIn, for example, you couldn't directly research companies or take online classes in the early years. But the founding vision of Linkedin did include these ideas and others not yet implemented. So I look for that too. Does the founder have both the bias to action that you need to get a product to market quickly, and also a persuasive vision for where the company and the market in general will be five years or even ten years out? Does success transform people’s lives and industries at scale?
(Hoffman (right) with LinkedIn CEO Jeff Weiner (left) and Microsoft CEO Satya Nadella (middle).Microsoft)
Rosoff:One hundred years from now, will life be better for most people than it is today? How so? What could go wrong?
Hoffman:We're still in the very early years of a massively transformative era, the beginning of what I call the Networked Age. The great news is that networks create compounding feedback loops that amplify the frequency, velocity, and reach of human communication and exchange. And that's the bad news too. The Arab Spring and ISIS are both products of the Networked Age.
On the plus side, I believe that networks and the flows of capital, talent, and information they enable are going to make life more prosperous and more meaningful for billions of people. On the potential downside, we should ask what kinds of strain does that put on the planet and on society? As global standards of living rise because of increased interconnectivity, we're going to need more energy, more food, more global cooperation. Can we manage it? I'm optimistic. If you look at long-term trends, we're less violent than we were 100 years ago, more educated, and perhaps surprisingly, more tolerant of diversity.
Of course, we're also going to be adding a lot of new elements into the mix, very quickly. Artificial Intelligence. Genome editing. If we think carefully about all the different pathways that are now emerging, I think we can ultimately navigate to a much better place. But the actual contours of that world are all but impossible to predict. If you think about how we went from the early web's "coffee cams" and dancing-baby animations to Facebook, Airbnb, Uber, Bitcoin, and countless other unforeseen services and technologies in less than 20 years, it seems impossible to predict specifics for 2116. Comparing the last 100 years to the next 100, however, it seems nearly certain that we will make a number of inventions and changes that will be magic and radically new.
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• MITT ROMNEY: My son emailed me yesterday telling me to run for president || If you follow Warren Buffett's methodology, stocks are significantly overvalued: When I turned bearish in January 2016 I missed three critical elements that caused the S&P 500 to grind toward record highs. First, a sufficient number of other investors did not share my skepticism about the global economy. Second, I misjudged investor faith in central bankers. Third, I underestimated the continued global appetite for yield bearing stocks. However, in recent days a host of big money investors have been vocally bearish. Does this mean the herd is turning and that I may have just been early? Perhaps, but what are these investors seeing that has led them to embrace my skepticism? Risk versus reward. Big money understands that investing is more about balancing risk and reward than about being "right." Investing is a game of probability, and since nobody has a crystal ball, the best we can all do is make educated guesses and place bets when the odds are in our favor. The odds may no longer be in equity investor's favor. Warren Buffett is one of the biggest investors in the world and his preferred method for valuing the stock market is now suggesting that U.S. stocks are significantly overvalued. Buffett has stated that using Total Market Capitalization to GDP is "probably the best single measure of where valuations stand at any given moment." For those who want to dig deeper into this valuation metric the website Gurufocus.com is a great resource. Currently, the ratio of Total Market Cap (as measured by the Wilshire Total Market Index (NYSE Arca: .W5000FLT) ) to GDP is 121 percent. There is only one other time since 1971 that this ratio has registered such an overvalued reading…that was in December of 2000. Moreover, GuruFocus has tracked market returns using this indicator and at current levels it suggests the total expected yearly return for U.S. stocks is 0.1 percent, including dividends. The current dividend yield is roughly 2.04 percent, which means this indicator is forecasting that stocks will fall by 2 percent over the next year. Story continues Think about that for a minute. The preferred valuation metric of the world's most successful and wealthiest investor is suggesting that there is little to no upside for stocks. When big money tries to calculate the risk of investing against the reward, a negative return will simply not compute. To my mind, this could be the reason that the likes of high-profile investors Jeff Gundlach and Bill Gross have suggested either selling everything or buying gold. In addition to the lack of reward, faith in the ability of central bankers to manufacture an economic recovery is being challenged. Over the last few trading sessions the yield on Japanese government bonds have jumped the most since 2013. In the aftermath of the 2013 Japanese yield spike the Japanese stock market fell more than 7 percent Will history repeat? Japan has been the laboratory for experimental monetary policy for the better part of 20 years. Recently the head of the Bank of Japan called for a review of current policy to be released in September. The market reaction to this anticipated review has been decidedly negative. The implication is that investors fear the Bank of Japan will admit defeat and no longer engage in market manipulation. I personally have my doubts that it will abandon its policies, but the crisis of faith is catalyst enough for investors to sell. Yet another reason big money is turning bearish. Finally, the search for yield is showing signs of coming to an end. Since the February 2016 market lows, the iShares Select Dividend ETF (NYSE Arca: DVY) (DVY) is up 17.5 percent, but interestingly the lower yielding Spyders ETF (NYSE Arca: SPY) (SPY) is up 18.23 percent. To be sure the outperformance of the lower yielding SPY is a recent phenomenon, but cracks in the foundation are appearing. Big money is turning bearish because the reward does not justify the risk. The market cap of U.S. stocks has far exceeded the value of GDP, typically a sign of negative stock market returns. The recent spike in Japanese yields has shaken investor faith in omnipotent central bankers, while the horn is blowing "Going Home" on the hunt for yield. For a few weeks in February my bearish view was accurate, but the fullness of time has proved I miscalculated the skepticism of others, the faith in central bankers and when the hunt for yield would end. Perhaps the recent growls from prominent investors is a signal that the herd is turning, but the truth is only time can tell. What is clear to me is that the risk of owning stocks is simply not justified by the reward. I continue to remain defensive on U.S. equities and share the bullish view on gold. 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 " 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 . For more insight from CNBC contributors, follow @CNBCopinion onTwitter. || High Prices And Expensive Gifts offered by PowerBTC to Bitcoin Sellers: NEW YORK, NY / ACCESSWIRE / August 7, 2016 / 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 PowerBTC, an up-and-coming financial world star that is taking e-commerce by storm. PowerBTC LLC ( http://www.PowerBTC.com ), an already well known cryptocurrency trader on the virtual market, has its on-going offer of higher-than-the-market-price premiums on Bitcoin purchase. Their offer is time-limited but comes along with a bunch of benefits for 10+ or larger transactions. While their standard approach of Bitcoin sellers remains a bonus of 10% more than the market's official rate, the company has added few more additional premiums and gifts for volume business. While having listed all of them below, customers can be assisted and given additional information at any time. POWERBTC CURRENT PROMOTIONAL OFFERS: 10+ BTC (24-karat gold coin); 20+ BTC (24-karat gold coin +3 %); 30+ BTC (24-karat gold coin +5 %); 50+ BTC (24-karat gold coin +8 %) 24-karat gold coin worth of 450 USD based on the gold market price. Tom Clark, the CEO of PowerBTC, 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 to http://www.PowerBTC.com reveals 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. While the offer may appear to be a bit chaotic for the regular seller, the mechanism behind it is based not only on the company's appetite for Bitcoin purchase, but also on the outcome of the Bitcoin PowerBTC is reinvesting, together with a sophisticated calculus and certain principles common within any financial services business. Story continues 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 PowerBTC the edge over competitors in the field by offering a depth of market knowledge that is unrivaled. PowerBTC is currently purchasing Bitcoins so any interested sellers should visit their website as soon as possible for the best deals. For more information, visit, http://www.PowerBTC.com . SOURCE: PowerBTC LLC || Apple and Google want to control your wallet — but PayPal has a secret weapon: (PayPal Braintree General Manager Juan BenitezPayPal/Braintree)
PayPal earned its fame as the internet's original electronic payment system for consumers.
But thanks to an acquisition it made three years ago, PayPal is now a contender in one of the fastest-growing and most promising parts of the payments business.
PayPal's secret weapon isBraintree, a payments startup it bought for $800 million in 2013. The deal gave PayPal vital technology for the back-end payment processing that's used by a slew of new apps and services, from Uber to Airbnb.
It's a competitive business, with richly-valued startup Stripe counting an impressive list of its own marquee customers.
But Braintree says it's seeing robust growth in an important part of its business, providing an important engine for its PayPal parent.
Braintree isdoing 3 times as many transactions as it was this time last year, the companytellsBusiness Insider. Assuming the average dollar amount per transaction hasn't dropped significantly, thatincreasingusage couldhelpBraintree accelerate the growth in itsoverallpayment volume, which totaled $50 billion in 2015.
(This chart tracks PayPal's transaction volume on mobile alone. Braintree is a big piece of this.PayPal/Braintree)
That's good news for PayPal, which did$282 billion in payment volume in 2015. With payment volume the best measure of a payment company's success (it's all about how much money you move, after all) that makes Braintree a big piece of PayPal's future success.
And at a time when companies like Apple, Google and Amazon are all trying to eat into PayPal's traditional market, with rival payment services, Braintree is providing PayPal with a way new way to stay competitive.(As an added bonus,Braintree had previously acquired popular social payments app Venmo for $26.2 millionin 2012, making it a two-for-one deal for PayPal.
PayPal, founded in 1998 as a direct way to send money point-to-point, was getting a "little stodgy,"Braintree General Manager Juan Benitezsays. Braintree presents a new way of looking at payments. Braintree is giving PayPal some much-needed new perspective and a new strategic focus.
"The integration of PayPal into Braintree is going great," Benitez remembers one PayPal executive joking with him recently.
When Braintree first started up in 2007, it was a tiny team based in Chicago. Now, it's 500 employees strong, with presence all over the world.
(Uber/Facebook)
To understand the problem that Braintree helps solve, consider the humble Amazon smartphone app. Finding stuff, putting it in your cart, and paying for it with a credit card or gift card balance is so simple, you don't even think about it. If you're shopping from a phone with a fingerprint sensor, you can even use that.
Which is great for Amazon. But for basically any other web merchant out there, it just ain't that easy. Payments, in particular, is hard to do yourself — if you're a small startup, especially, it's a maze of fraud prevention, deals with credit card arbitrage firms, and a million other headaches.
"Commerce is hard," Benitez says. "Scale is hard."
That's where Braintree comes in. It lets developers quickly and easily build payment systems that blend right in with their own apps and websites. They can take credit cards, Bitcoin, Apple Pay, Google Pay, or whatever comes next, without having to be a specialist in any of those things. Just plug in Braintree and go.
"When Uber started, how was Uber going to do one-click checkout like Amazon does?" asks Benitez.
Airbnb is a customer. So are Uber, Pinterest, GitHub, OpenTable, and lots more companies large and small (Benitez says Braintree can't disclose all of their customers, but some of them are quite large). When you say, pay for an Uber in Facebook Messenger, no matter what payment method you use, it all gets invisibly intermediated by Braintree.
So even when Tim Cook promotes Apple Pay at big Apple events, it's Braintree and its customers who get the push.
Braintree is a strategic must-have for PayPal, in many ways.
While PayPal itself has rapidly improved its technology, both in terms of its app and its behind-the-scenes plumbing, the world is changing. People are doing more and more shopping from mobile apps, while gadgets likeAmazon Echo and Google Homepresent and even newer, more-cutting-edge way to buy stuff.
Braintree gives PayPal a way to always be a part of those transactions, wherever and whenever they take place, so long as developers put it in their apps. As computing becomes increasingly mobile, and thenmoves to other devicesentirely, that's a shift PayPal needs to make to survive in the long-term.
(Stripe cofounder John CollisonGetty Images/Brian Ach)
And while Braintree faces competitors likefast-growing $5 billion startup Stripe, Benitez says that having access to PayPal's proven model— which includes fraud prevention and a presence in dozens of countries across continents — is a big differentiator.
Still, Benitez says that the greatest challenge isn't so much the competitive field, as it is the drive to help get merchants of all sizes accept digital payments — a must in 2016, as smartphones and wearable technology promise to change the way we think of commerce.
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• The biggest feature of Apple Pay could be something no one's talking about || Bitcoin Services Inc. Launches bitcoin-basics.com: GRANDVILLE, MI / ACCESSWIRE / July 6, 2016 / Bitcoin Services Inc.(OTC Pink: BTSC) announced today that it launchedbitcoin-basics.com. The website explains the basics of Bitcoin to new users. It will make money from ads and affiliate offers. Bitcoin is a digital asset and a payment system. The system is peer-to-peer and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a publicly distributed ledger called the blockchain, which uses bitcoin as its unit of account. Since the system works without a central repository or single administrator, the U.S. Treasury categorizes bitcoin as a decentralized virtual currency. Bitcoin is often called the first cryptocurrency.
About Bitcoin Services Inc.:Our business operations are Internet based to the consumer and consist of three separate streams, as follows: (1) bitcoin escrow services, (2) bitcoin mining, and (3) blockchain software development. The principal products and services are the mining of bitcoins, providing escrow services for buyers and sellers of bitcoins, and the development and sale of blockchain software. The market for these services and products is worldwide, and sold and marketed on the Internet.
Safe Harbor Statement
This 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 and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the company and its management team. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control. Some of these factors include the ability of the company to raise sufficient capital, attract qualified management, attract new customers and effectively compete against similar companies.
CONTACT:
info@bitcoinservices.biz
SOURCE:Bitcoin Services Inc. || MJMI Moves Toward Blockchain Based Securities Offering System: HENDERSON, NV / ACCESSWIRE / August 10, 2016 / MarilynJean Media Interactive ( MJMI) is excited to announce it has begun taking steps toward the use of a system recently approved by the SEC to issue shares via the Bitcoin Blockchain. The United States Securities and Exchange Commission (SEC) recently approved a plan by online retail giant Overstock.com to issue company stock via the internet. This signals a massive shift in the way financial securities will be distributed and traded in years to come. The SEC approved Overstock's Form S-3 heralding the beginning of the use of the Blockchain to distribute and track ownership of shares. The Blockchain is an enormous distributed database that runs across a global network of independent computers that are not controlled by any government. With Bitcoin, this ledger tracks the exchange of digital currency. The Blockchain can also track and independently verify the transfer of other forms of equity, including stocks, bonds and other securities. This technology has the potential to completely change the way equity markets function. It can literally replace the function of a stock exchange. MJMI intends to leverage its Bitcoin exchange expertise and use of the Blockchain to potentially conduct a securities offering via the Internet. If approved, the company could conceivably issue shares on behalf of third parties who had also obtained SEC approval. Peter Janosi, MJMI's president said: "We are excited to further expand our operations into Blockchain technology and its myriad uses, specifically within the financial sector. This technology could do for capital markets what the Internet did for consumers." 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. Story continues 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, the trading of futures and options contracts as well as 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 focussed on bitcoin and the crypto-currency space. The company's trading symbol is MJMI.QB. Website: www.marilynjean.com Press Contact: investorcommunica@gmail.com SOURCE: MarilynJean Media Interactive
[Random Sample of Social Media Buzz (last 60 days)]
1 #BTC (#Bitcoin) quotes:
$665.12/$666.90 #Bitstamp
$652.90/$653.49 #BTCe
⇢$-14.00/$-11.63
$669.52/$669.70 #Coinbase
⇢$2.62/$4.58 || The Hardware Bitcoin Wallet. Get Trezor now for only $99 https://buytrezor.com?a=coinokbuytrezor.com/?a=coinok #btc #bitcoin 00 pic.twitter.com/qdVRK9G0ZL || $669.29 #bitfinex;
$668.28 #OKCoin;
$650.00 #btce;
$670.51 #GDAX;
$670.00 #bitstamp;
$672.70 #itBit;
#bitcoin news: http://bit.ly/1VI6Yse || #bitcoin #miner BITMAIN ANTMINER S1 180 GH/s BITCOIN BTC ASIC MINER $50.00 http://ift.tt/29EW6GA pic.twitter.com/VPfsSGAgTp || 1 MUE Price: Bittrex 0.00000033 BTC YoBit 0.00000050 BTC Bleutrade 0.00000030 BTC #MUE #MUEprice 2016-07-25 00:00 pic.twitter.com/UGl722w08e || 1 #bitcoin 1955 TL, 653.092 $, 589.5 €, GBP, 40802.00 RUR, 69893 ¥, CNH, CAD #btc || $662.91 at 03:45 UTC [24h Range: $646.05 - $678.00 Volume: 4387 BTC] || 1 #BTC (#Bitcoin) quotes:
$622.00/$622.90 #Bitstamp
$618.94/$618.95 #BTCe
⇢$-3.96/$-3.05
$623.76/$623.88 #Coinbase
⇢$0.86/$1.88 || Get Bitcoin Fast Return on Investment 12000% in 24 hours,uefa euro 2016 quiz . http://ow.ly/aT29301CyEA || Re: Wall Observer BTC/USD – Bitcoin price movement tracking & discussion http://bitcoinregime.com/2016/06/25/re-wall-observer-btcusd-bitcoin-price-movement-tracking-discussion-1589 …
|
Trend: no change || Prices: 575.63, 581.70, 581.31, 586.75, 583.41, 580.18, 577.76, 579.65, 569.95, 573.91
|
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]
Not fully available.
[Random Sample of News (last 60 days)]
Fearing return to drachma, some Greeks use bitcoin to dodge capital controls: By Jemima Kelly LONDON (Reuters) - There is at least one legal way to get your euros out of Greece these days, to guard against the prospect that they might be devalued into drachmas: convert them into bitcoin. Although absolute figures are hard to come by, Greek interest has surged in the online "cryptocurrency", which is out of the reach of monetary authorities and can be transferred at the touch of a smartphone screen. New customers depositing at least 50 euros with BTCGreece, the only Greece-based bitcoin exchange, open only to Greeks, rose by 400 percent between May and June, according to its founder Thanos Marinos, who put the number at "a few thousand". The average deposit quadrupled to around 700 euros. Using bitcoin could allow Greeks to do one of the things that capital controls were put in place this week to prevent: transfer money out of their bank accounts and, if they wish, out of the country. "When people are trying to move money out of the country and the state is stopping that from taking place, bitcoin is the only way to move any value," said Adam Vaziri, a board member of the UK Digital Currency Association. "There aren't any other options unless you buy diamonds, and that's very difficult to move." But Marinos said the bitcoin buyers' main aim was to shield their money against the prospect that Greece might leave the euro zone and convert all the deposits in Greek banks into a greatly devalued national currency. If voters reject the demands of international creditors in a referendum on Sunday, this becomes much more likely. "A lot of people are keeping all the bitcoins they buy on our platform, until they understand what to do with them," Marinos said. "In their eyes, now they have bitcoins, they're safe." VOLATILE CURRENCY That said, the value of a bitcoin, a web-based digital currency invented six years ago that floats freely and is not backed by a government or central bank, has been highly volatile. It peaked at over $1,200 in late 2013 before crashing almost 70 percent in less than a month after a hacking attack on the Tokyo-based bitcoin exchange Mt. Gox in early 2014. Story continues This week, as Greece defaulted on a debt to the IMF, the price jumped to a 3-1/2-month high of $268 (BTC=BTSP) on the Bitstamp exchange - up more than 20 percent since the start of June - while the number of daily transactions reached a record 150,917. Most bitcoin-watchers reckon the digital currency's rise is mostly due to speculators betting that capital controls would trigger heavy demand. In March-April 2013, when Cyprus clamped down on bank withdrawals, bitcoin rocketed almost 700 percent. Coinbase, one of the world's biggest bitcoin wallet providers, which is not currently accessible to Greeks, said it had seen huge interest from Italy, Spain and Portugal. It said the average daily sign-ups from euro zone countries had increased 350 percent since the start of June. Average daily bitcoin purchases from the euro zone this week were up 250 percent compared with June's average. On June 20, Greece got its first bitcoin "ATM", in a family-run bookstore in Acharnes on the outskirts of Athens. There, if they had them, customers could insert euros and in return receive bitcoin at the current exchange rate, which they would scan into an electronic "wallet" on their smartphones. But with Greeks having to form long queues at bank ATMs just to receive a meager 60 euros' cash a day, this machine has seen no customers since talks with creditors broke down on Saturday. "Before Saturday, there was some very limited interest, mostly customers asking what it does and how it works," said Maria Varila, an employee in the shop. "Since Saturday, however, when all hell broke loose, there has literally been zero interest." (Additional reporting by Lefteris Karagiannopoulos and Dimitrios Michalakis in Athens; Editing by Kevin Liffey) || Wall Street momentum adds to year of bitcoin legitimacy: A top secret bitcoin startup called 21 Inc. finally disclosed its business plan this week and the strategy points to the many uses of the virtual digital currency beyond the obvious. With $116 million of backing from top tier venture capital firms and former Treasury Secretary Lawrence Summers signed on as a strategic advisor, 21's emergence is also further proof that bitcoin has rapidly moved from fodder for weirdo science fiction to the realm of real business tools. The New York Stock Exchange's announcement on Tuesday of its own bitcoin price index , one that could be used as the basis for all manner of derivative contracts, is yet another signal of bitcoin's usefulness to mainstream businesses. The well-funded startup says it has created a dedicated computer chip that can be added to smartphones, tablets or almost any other type of computing device to allow for the processing of bitcoin transactions and the creation of new bitcoins. The feature could also be incorporated into chips made by other companies to add the same functionality. Currently, that's the realm of high-powered (and high-priced) computer rigs known as bitcoin miners. Every time a bitcoin is traded from one person to another, the transaction is recorded in a digital logbook known as the blockchain. Mining computers crunch the encryption equations needed to verify each transaction and verify the listings in the blockchain. New bitcoins, each really just a unique string of digits, are generated via the same process, providing an economic incentive for the miners to verify all of the transactions. Adding the bitcoin mining capability to any consumer's portable computing device opens an intriguing array of new functionality. Because bitcoin mining generates new bitcoins, 21's chips create a small, new revenue stream for any device. That revenue could go toward subsidizing Internet access or paying for online services. It could also go to a phone manufacturer or mobile carrier. And if the idea catches on, more than a billion smartphone owners could be crunching bitcoin transaction data on the phones in their pockets as they go about their day. [ Get the Latest Market Data and News with the Yahoo Finance App ] But connecting each device to bitcoin's digital logbook of all transactions adds another set of interesting capabilities. Transactions added to the blockchain can include extra information which can't be altered or removed. That can provide a layer of security and verification that's hard to find on the Internet. It could also allow devices to authenticate themselves without resorting to the kinds of more expensive security networks used by corporations today. Many of these type of features can work no matter how much the price of a bitcoin rises or falls. The often-volatile price climbed over $1,000 in November 2013, only to plummet more than 75% over the next year. Bitcoins traded for about $234 each on Tuesday. 21 CEO Balaji Srinivasan emphasized that separation of price and function in a blog post on Monday . "At 21 we are less concerned with bitcoin as a financial instrument and more interested in bitcoin as a protocol — and particularly in the industrial uses of bitcoin enabled by embedded mining," he wrote. Of course, there's no guarantee that 21 will succeed. Its chips may turn out to be too expensive, too slow or otherwise flawed. And the revenue generated by the chips may turn out to be too meager to support any interesting initiatives. Still, the news of Summers and the New York Stock Exchange's involvement adds to the list of serious Wall Street players already backing bitcoin, including Goldman Sachs ( GS ) and the Nasdaq ( NDAQ ). The NYSE was already one of the backers of bitcoin exchange Coinbase. Goldman is backing digital wallet provider Circle while the Nasdaq recently announced plans to use the blockchain as a secure listing for private stock transactions. Again, all of these ventures could certainly fail or fall short. But it seems more likely that 2015 will be remembered as the year bitcoin got serious. || President of Bit-X Financial Corp. (OTCQB: BITXF) Talks About Pending Launch of Company's Bitcoin Exchange and How Bitcoin Is Gaining Recognition in Major Financial Circles: POINT ROBERTS, WA and NEW YORK, NY--(Marketwired - May 28, 2015) - Investorideas.com, a global news source covering leading sectors including Bitcoin and payment technology issues an exclusive interview with Mr. Brad Moynes, President of Bit-X Financial Corp. ( OTCQB : BITXF ). Brad shares insight on the history of his company, the pending launch of the company's Bitcoin exchange and recent developments in the Bitcoin sector that have legitimized Bitcoin in the financial community, making some predict that it may replace traditional currency in the future. As one of the few publicly traded companies in the space, Brad talks about the future of Bitcoin as a digital currency and how his company is posturing to be part of the evolution of currency. Interview: Q: investorideas.com Brad, can you start by giving us a brief history of your company and why you decided to participate in the Bitcoin market? A: Brad Moynes, President of Bit-X Financial After several years of evaluating various technology start-up opportunities, in 2012 I became aware of Bitcoin and the Blockchain. It was exactly what I wanted to get involved with; a new decentralized technology that combined finance, currency, trading and the ability to transfer a store of value (money) between end users instantly, with no intermediaries, at a very low cost. This was also a brand new segment of innovation that is positioned for massive growth, unlike other stagnant industry sectors like traditional banking. This seemed like a really good idea -- world changing potential -- and I became fascinated with the technology and its potential, whereby anyone could become their own bank. Q: investorideas.com For investors unfamiliar with the technology behind Bitcoin can you explain what Blockchain is and how significant it is? I have heard quotes that it is considered "as important of an opportunity as the creation of the Internet itself." A: Brad Moynes, President of Bit-X Financial The Blockchain (created 2009) is very powerful invention and could become as big as the internet itself. It is a public ledger of all Bitcoin transactions that have ever been executed. It is constantly growing as "completed" blocks are added to it with a new set of recordings. The blocks are added to the Blockchain in a linear, chronological order. Bitcoin is the financial application of the Blockchain and the most important. Story continues Q: investorideas.com The New York Stock Exchange launched a Bitcoin index last week. Nasdaq Stock Exchange, Goldman Sachs, Richard Branson and other big names in the financial markets are all getting on board with Bitcoin. What does that mean for a company like yours and the industry overall? A: Brad Moynes, President of Bit-X Financial Many of these large institutions including the Nasdaq, NYSE and Goldman provide awareness about Bitcoin to the masses. It validates the technology and says to the market, "pay attention, there is something special here." A start-up such as Bit-X Financial stands to gain tremendously from these endorsements and large-scale investments into the Bitcoin ecosystem, as it can lead to price increases in Bitcoin and overall consumer awareness. BITXF is a digital exchange whereby users can buy & sell Bitcoin and other crypto-currencies. Blue chip participants will become a catalyst for BITXF to launch successfully and become universally acceptable. Q: investorideas.com You are about to launch your Bitcoin exchange in June. What can users expect to see once it's live in terms of service features? A: Brad Moynes, President of Bit-X Financial Some of the service features of the proprietary trading and matching engine have 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 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. At the start, our platform will offer trading in Bitcoin, Litecoin, Dogecoin, Stellar and Ripple. As we grow, we will earn listing fees to other crypto-assets who are seeking access to a trading platform and liquidity. Q: investorideas.com For any users concerned about security, how is your exchange addressing this issue? A: Brad Moynes, President of Bit-X Financial BITXF takes security very seriously. Security is the cornerstone of the platform which is the most secure on the market today. We provide a 3-level login verification that includes a 2-step process to login, 3 levels of verification for withdrawals. This provides our users extra protection to prevent accounts from unauthorized access. Other than your regular password, you will be asked to enter a real-time password generated by Google Authenticator. To provide you an extra level of security, when you withdraw, you will need to activate a link on the verification email to complete the request. SSL ENCRYPTION We use 128-bit encryption to encrypt all communication between you and our website. This is the highest encryption available and is used as the gold standard for all secure communication on the net. DDOS PROTECTION We leverage one of the world's strongest forms of protection against Distributed Denial of Service attacks. We do not pretend to do this by ourselves and partner with multiple third-parties who have proven to mitigate some of the largest DDOS attacks in Internet history. PASSWORDS We do not use MD5 hashing to encrypt your password. To avoid common weaknesses, our proprietary procedures are designed to provide you, our valued clients, with the peace of mind that comes from our Next Level security implementation. DB SECURITY Our databases are encrypted and protected against SQL injection attacks. We also do hourly backups where we send the backups off-site to multiple locations. STATE OF THE ART INFRASTRUCTURE The platform is hosted in Tier 3+ ISO 27001/9001 compliant data centers. Digital currencies are not stored with cloud providers. MULTI-FIREWALL PROTECTION We closely monitor all incoming and outgoing traffic in a very stringent manner to ensure we prevent our network from malicious attack and injection as well as data threats. BUSINESS CONTINUITY PLANNING We have process and controls in place to deal with outages or attacks. Emails will be sent out to notify you of alternative ways to get back into our site. Our site and funds are totally segregated so you can be assured your funds are safe with us. REGULAR STRESS & SOAK TESTING Our technology is immediately scalable. Our regular stress testing has proven it achieves low latency processing and we've soak-tested to over 10 million transactions within a 24 hour period. Translation: our engine and underlying infrastructure can handle load, and lots of it. COMPLIANCE FRAMEWORK We insist on a comprehensive and thorough KYC (Know-Your-Customer) and AML (Anti Money Laundering) compliance framework. This includes the monitoring of suspicious transactions and obligatory reporting to local regulators and other compliance bodies. Our AML and KYC policies differ depending on the country of origin of which our clients are located, and furthermore recorded through the BITXF registration process. Our specific policies are detailed within our Terms of Use and which you must accept as per the new user registration process. Our robust compliance framework ensures that regulatory requirements are being adhered to at both a local and global level, providing the highest levels of trust and ensuring the Site continues to operate reliably for the long term. Q: investorideas.com Can you tell us about the significance of your Exclusive Bitcoin Exchange and Services Agreement with Hong Kong based ANX, announced in April? Will the coin exchange be called Bit-X Financial or will there be a different trade name and branding concept? A: Brad Moynes, President of Bit-X Financial Partnering with ANX, a Bitcoin Exchange industry leader, will provide BITXF and our shareholders a turn-key solution to gain immediate exposure to Bitcoin while leveraging the ANX technical and support assets as we prepare to go live. Among the many initiatives occurring with our Company at the moment we have yet to announce what the exchange trade name and branding will be. We want to be original and come up with something unique, something that has not been done before and we plan to release that in the upcoming weeks prior to our go-live date. The public company (BITXF) will be the parent company that owns 100% of the newly branded exchange. Q: investorideas.com In closing what are your goals following the launch and roll out of the site in June and how do you see your company playing an integral role in the future of Bitcoin? A: Brad Moynes, President of Bit-X Financial Our go-live date is on track and we fully expect to launch our world-class proprietary trading platform and provide our users a simple efficient way to trade Bitcoin. Our goals following the launch will be to provide our users a safe, secure and fully compliant Bitcoin exchange experience at a low cost. We are a customer service orientated company and we expect to be the best when it comes to customer support responses and solutions. We are also in the planning and development stage of a new Blockchain technology concept that may see BITXF become the first public company to offer such a technology and offer it to third parties worldwide. More details regarding this excited new concept will be provided as they materialize. About BIT-X: ( OTCQB : BITXF ) Bit-X Financial Corp is a Vancouver; British Columbia based Company listed on the OTCQB under the trading symbol BITXF. Bit-X Financial Corp 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." www.bitxfin.com About Investorideas.com InvestorIdeas.com newswire is a global investor news source covering multiple sectors including Bitcoin and payment technology. Follow Investorideas.com on Twitter http://twitter.com/#!/Investorideas Follow Investorideas.com on Facebook http://www.facebook.com/Investorideas Sign up for free news alerts at Investorideas.com http://www.investorideas.com/Resources/Newsletter.asp Disclaimer/ Disclosure: The Investorideas.com newswire is a third party publisher of news and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions, content marketing and online advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers. Disclosure: BITXF is a PR client of Investorideas.com and compensates us for news publication, PR and media.( two thousand five hundred per month and 144 shares ) More info: http://www.investorideas.com/About/News/Clientspecifics.asp and http://www.investorideas.com/About/Disclaimer.asp BC Residents and Investor Disclaimer : Effective September 15 2008 -- all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894 . Global investors must adhere to regulations of each country. || Bitcoin Direct LLC, Subsidiary of Conexus, Places Order for Additional 6 Automated Bitcoin Machines: NEW YORK, NY--(Marketwired - May 26, 2015) - Conexus Cattle Corp. ( OTC PINK : CNXS ) announced today their subsidiary, Bitcoin Direct LLC, a Nevada limited liability company ("Bitcoin" or the "Company"), has placed an order for 6 additional A utomated B itcoin M achines (ABMs). The ABMs, which provide consumers with the ability to instantaneously purchase bitcoins through their mobile devices, will be installed in key North American metropolitan markets. The Company currently has installations serving the major metropolitan centers of New York City and Montreal and anticipates placing the new ABMs in metropolitan areas that lack access to ABMs. Additional sites are presently being reviewed in the New York metropolitan area. ABMs present a major solution for bitcoin users. An ABM allows consumers to exchange cash and bitcoins without the need for a human to facilitate the transaction. In addition, the Company plans to offer a full range of bitcoin transaction solutions to a wide variety of industries including remittance and gaming, among others. Conrad Huss, President of Conexus, commented: "We look forward to building out the Company's North American presence and opening up markets that are either underserved or completely lacking access to an ABM. Consumer demand has created the need for additional ABMs and we are eager to install our system into highly select, profitable market areas. As the AMBs are installed, we look forward to updating all stakeholders on the Company's progress and growth." About Bitcoin Direct LLC Bitcoin 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 Harbor This 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 at www.sec.gov || USAA creates research team to study use of bitcoin technology: By Gertrude Chavez-Dreyfuss
NEW YORK, May 8 (Reuters) - USAA, a San Antonio, Texas-based financial institution serving current and former members of the military, is studying the underlying technology behind the digital currency bitcoin to help make its operations more efficient, a company executive said.
Alex Marquez, managing director of corporate development at USAA, said in an interview this week that the company and its banking, insurance, and investment management subsidiaries hoped the "blockchain" technology could help decentralize its operations such as the back office.
He said USAA had a large team researching the potential of the blockchain, an open ledger of a digital currency's transactions, viewed as bitcoin's main technological innovation. It lets users make payments anonymously, instantly, and without government regulation.
The blockchain ledger is accessible to all users of bitcoin, a virtual currency created through a computer "mining" process that uses millions of calculations. Bitcoin has no ties to a central bank and is viewed as an alternative to paying for goods and services with credit cards.
"We have serious interest in the blockchain and we think the technology would have an impact on the organization," said Marquez. "The fact that we have such a large group of people working on this shows how serious we are about the potential of this technology."
USAA, which provides banking, insurance and other products to 10.7 million current or former members of the military, owns and manages assets of about $213 billion.
Marquez said USAA had no plans to dabble in the bitcoin as a currency. Its foray into the blockchain reflects a trend among banking institutions trying to integrate bitcoin technology into their systems. BNY Mellon and UBS have announced initiatives to explore the blockchain technology.
Most large banks are testing the blockchain internally, said David Johnston, managing director at Dapps Venture Fund in San Antonio, Texas. "All of the banks are going through that process of trying to understand how this technology is going to evolve."
"I would say that by the end of the year, most will have solidified a blockchain technology strategy, how the bank is going to implement and how it will move the technology forward."
USAA is still in early stages of its research and has yet to identify how it will implement the technology.
In January this year, USAA invested in Coinbase, the biggest bitcoin company, which runs a host of services, including an exchange and a wallet, which is how bitcoins are stored by users online.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by David Gregorio) || New York Issues BitLicense Rules To Mixed Reviews: On Wednesday, New York State announced new rules that will govern cryptocurrency-based businesses designed to protect consumers in the increasingly popular digital currency space. The regulations are expected to create a safer environment for consumers, but many bitcoin enthusiasts say that the government's attempt at regulation will stifle growth in the industry. BitLicense The new set of regulations require any company that deals in virtual currencies to obtain a "BitLicense" to prove that it meets the state's guidelines for safeguarding customer funds. The license can only be obtained by firms with adequate security and customer protection standards and anti-money laundering practices in place. Related Link: Should The UK Regulate Bitcoin Wallets? The Benefits Of BitLicenses A spate of high-profile scams involving bitcoin have created a sense of mistrust among the general public when it comes to using cryptocurrencies. The state's regulations could persuade more average investors to use bitcoin as they require more stringent customer protections for bitcoin-based transactions, thus creating a safer space to use the currency. Criticism Others are criticizing the new regulations, saying they are bound to stifle innovation in the cryptocurrency space. The rules say that digital currency firms must gain approval for things like product changes and taking on new controlling investors, something most firms say will waste time and money. These rules could simply add to the red tape associated with starting a new business, and will discourage entrepreneurs from entering the digital currency space. See more from Benzinga Despite Looming Payments, Athens Refuses To Be Blackmailed Manufacturing Is Getting A Technology Makeover Blockchain Could Be Used For Surveillance © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Overstock Loses Big On Bitcoin: Overstock.com, Inc.(NASDAQ:OSTK)'s latest earnings report showed that the company's cryptocurrency investmentsdeclined significantlyduring the first quarter of 2015. The losses added up to $117,000, a hefty sum and disappointing performance for investors.
Bitcoin Supporter
Overstock has been a major proponent for digital currencies; last year the company's CEO Patrick Byrne said that the firm had brought in $1.6 million in bitcoin sales. The online retailer was also one of the first major merchants to begin accepting bitcoin payments back in 2014 when markets were still very apprehensive about the currency.
What Happened?
Many believe the losses are due to the fact that the company is still holding some of its assets in bitcoin, and that the coin's volatile nature brought down the firm's value. However, if this is the case, the company may see a major increase in future reports.
Related Link:Have You Met The Bitcoin Booty Girls?
Altcoin Investments
Overstock says its losses stemmed from investment in altcoins, which performed poorly. Those investments have all been lumped together with the company's bitcoin holdings and are said to be much of the reason for the decline.
Still A Supporter
However, the language in Overstock's quarterly filing suggests that the company has not been deterred from supporting digital currencies just yet. While the company recognized the legal and financial risk of dealing in cryptocurrency, the statement said that in the future, the company "may transact in cryptocurrency directly."
The filing also confirmed that the company wasn't opposed to increasing its digital currency holdings despite the current uncertain landscape.
See more from Benzinga
• Overstock To Issue Digital Corporate Bond
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Decentralized Application Network Corona Promotes Bitcoin 2.0 Technologies and Provides Funding for Developers Worldwide: A Newly Launched Community Network for Developers of Decentralized Applications (Dapps), Corona Encourages Breakthroughs Using Blockchain Technology, Offering Funding and Resources for Entrepreneurs Worldwide
SAN FRANCISCO,CA / ACCESSWIRE / May 12, 2015 /Corona is a global hub for Dapp developers and entrepreneurs in search of educational resources and financial support. Corona believes that "positive and tangible change in the world" is possible as Dapps proliferate across the web. By creating a community driven network Corona hopes to encourage the creation of socially and economically disruptive applications.
Corona strives to advance cutting edge open-source software and decentralized business models by providing a collaborative environment and funding possibilities for Dapp projects.Developers and entrepreneurs who wish to build the next generation of internet applications can apply for funding on the Corona website https://corona.info/.
Corona is a crypto-technology neutral organization that supports a diversity of decentralized development platforms and technologies such as those offered by Ethereum, Maidsafe, Codius, and Eris amongst others. Corona also supports other decentralization and smart contract technologies such as Bitcoin, Counterparty, Sidechains, Bitshares and NXT. All of these platforms share the same common goal of creating autonomous, distributed and secure systems.
Founded by Daniel Greene and backed by a talented team of developers and advisors, Corona aims to make Dapps easier to develop while promoting the new possibilities of their use.Dapps operate on the basis that their users agree on common rules and protocols which cannot be dictated upon them by a central authority. Additionally, they reduce the need for centralized control therefore can provide the user with much higher levels of security, trust and privacy.
According to Daniel, Dapps can be built, "in a shorter time period compared to standard applications because of the turnkey infrastructure, lowered barrier to entry, and simplified deployment."
The increasing ease of creating such software will lead to the rapid expansion of decentralized services. These peer-to-peer services are revolutionizing the internet economy, "offering alternatives to centralized corporate monopolies."
Dapps are anticipated to have a significant disruptive effect on the way companies do business by shifting power back to the consumer. The next generation of desktop and mobile internet applications will provide services such as peer-to-peer insurance, identity and reputation, secure messaging, and decentralized marketplaces. These applications are expected to be highly dependent upon one another "and it is this concept, that Dapps can act like cells in a larger organism, which is a core motivator for the Corona network."
By building a networking hub for Dapp developers in need of funding and resources, Corona is poised to advance new blockchain technologies, open-source software solutions and disruptive decentralized business models that may benefit billions worldwide.
About Corona:
Corona is a highly collaborative development network promoting and funding the building of platform agnostic decentralized applications and services. The Corona network will accelerate adoption, increase awareness, and optimize the creation of the new decentralized web.
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to FDIC and other consumer protections. This press release is for informational purposes only and should not be taken as investment advice.
For more information about us, please visithttps://corona.info.
Contact Info:
Name: Daniel GreeneEmail:team@corona.infoOrganization: Corona
SOURCE:Corona || Microelectronics Results From the Bitcoins Conference in New York: MONARCH BAY, CA / ACCESSWIRE / May 13, 2015 /Microelectronics Technology Company (MELY) is pleased to report results after attending and exhibiting at the Bitcoins Conference in New York City.
BTC Pool Party, on behalf of Microelectronics Technology Company, was an active participant in the Bitcoins Conference in New York this past April 27th – 29th. Additionally, BTC Pool Party was a Sponsor for the Event and participated with an exhibit during the Conference.
The attendance for the 2015 conference was approximately 1,300 participants, individuals and companies representing all aspects of the Bitcoin community; this attendance number was similar to the conference held in 2014. Majority of the conference participants stopped at the BTC Pool Party exhibit to learn more about the transparency of the pool, the technology on which it is based, and to learn how the Company is solidifying its position in the Bitcoin community.
Microelectronics increased its recognition throughout the participants of the conference and developed strong alliances with manufacturers and developers of the new chip technology. The Company has entered into active communication with those manufacturers and developers invested in supplying the Company with an increase in mining production.
"The Company is also pleased to be asked to assist in the advancement of 'friends of the pool initiative,' where the goal is to create an alliance of companies working together to support and promote our industry," stated President Brett Everett. "This is a strategic time for Microelectronics and BTC Pool Party growth."
The primary goal of BTC Pool Party was to attract other miners to the pool. Many large miners as well as independent miners expressed interest in BTC Pool Party. There is a significant list of potential miners interested in joining BTC Pool Party. Several have been in communication with the Company to schedule testing of their specific miners on the pool.
The company continues to develop and improve the BTCPOOLPARTY mining pool with the introduction of more detailed stats of the mining operations available as the Company moves forward.https://www.btcpoolparty.com/
https://www.facebook.com/btcpoolparty
Additional photos and videos can be viewed at the company's Facebook page:
https://www.facebook.com/MELYPK.
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; MELY's ability to commercialize its technology; ability to defend intellectual property; material and component costs; competition; economic conditions; consumer demand and product acceptance, and availability of growth capital.
Additional considerations and risk factors are set forth-in reports filed on Form 8-K and 10-K 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.
CONTACT:
For further Information:Microelectronics Technology Company
President:Mr. Brett Everett888-681-9777 ext. 5info@melypk.comwww.melypk.com
SOURCE:Microelectronics Technology Company || The Future of Bitcoin; the Opportunity and Obstacles: POINT ROBERTS, WA and NEW YORK, NY--(Marketwired - June 04, 2015) -Investorideas.com, a global news source covering leading sectors including Bitcoin and payment technology releases commentary from some of the leading digital currency experts along with management from two public plays within the sector.
As Wall Street and global financial markets enter the space, these experts give insight into the future of Bitcoin and the obstacles and the opportunities it presents.
The following are questions and answers from the participating experts; Brian Kelly, author of the book "The Bitcoin Big Bang"www.briankellycapital.com, David Berger,Founder and CEO,Digital Currency Council (DCC), Mr. Brad Moynes, President of Bit-X Financial Corp. and Michael Sonnenshein, Director of Sales & Business Development, Bitcoin Investment Trust(OTCQX: GBTC).
Interviews:
Brian KellyQ: Investorideas.comYou have said you were a skeptic like many in the beginning and now you are a respected expert in the sector. With recent acceptance from The New York Stock Exchange, Nasdaq Stock Exchange, Goldman Sachs, Richard Branson and a list of new entries every day, what do you see as the turning point for Bitcoin becoming legitimate?
A: Brian Kelly, author of the book "The Bitcoin Big Bang"It seems that financial institutions finally realized that Bitcoin and the blockchain is more than a currency. They realized it is a tool to flatten the costs of financial services.
Q: Investorideas.comDo you see many publicly-traded stocks in play now and are you hearing of IPO's in the space?
A: Brian Kelly, author of the book "The Bitcoin Big Bang"I would expect IPOs in the next 3 years. If we use internet companies in 1995 as a template, it took about three years for major IPOs.
Q: Investorideas.comWith the major financial institutions now getting involved, where do you see Bitcoin headed in the next few years and how will it impact the future of currency?
A: Brian Kelly, author of the book "The Bitcoin Big Bang"A year ago the survival of Bitcoin was 50/50...with recent investments it's clear that blockchain technology is here to stay.
David BergerQ: Investorideas.comCan you give us background on the creation of the Digital Currency Council (DCC) and why you formed it?
A: David Berger,Founder and CEO,Digital Currency Council (DCC)The early mission of The Digital Currency Council was to set a common standard of understanding amongst professionals and help those professionals achieve that standard. Today, our over 1500 members across 90 countries are using the knowledge they've gained to build various exciting businesses and streamline existing business processes. Our software is integral to these more complex efforts.
Q: Investorideas.comWith a primary focus of education, what kind of individuals and companies are you seeing come forward to understand Bitcoin and what percentage of the financial community at large do you think is getting involved now?
A: David Berger,Founder and CEO,Digital Currency Council (DCC)We are at the very beginning. Most individuals and firms have a very limited understanding. Our work with these individuals and firms begins with general competency training. These general competencies are sufficient to ensure that a firm is aware of the opportunities and risks. Our customized software solutions help those firms that recognize an opportunity to capitalize.
Q: Investorideas.comWhat do you see as the primary obstacles to the acceptance of digital currency?
A: David Berger,Founder and CEO,Digital Currency Council (DCC)It's important that we ensure that bad actors don't hijack this groundbreaking technology. The general public will accept and adopt technologies that make their lives better but only if they trust that the risk doesn't outweigh the benefit.
Q: Investorideas.comWhat do you see for Bitcoin within the next year and over the next 5 years?
A: David Berger,Founder and CEO,Digital Currency Council (DCC)The next five years will bring increased integration, complexity, and utility. Bitcoin will become so easy to use that you won't even realize you're using it.
Brad MoynesQ: Investorideas.comWhat do you think was the turning point for making Wall Street and the financial institutions take notice and want to participate in Bitcoin?
A: Mr. Brad Moynes, President of Bit-X Financial Corp.The opportunity to develop technology that could make financial institutions including stock exchanges, broker-dealers, banks, transfer agencies and the DTC more efficient and less costly to reporting issuers, investors and consumers would be considered by Wall Street as a really good thing. The fact that DNCT (blockchain) technology has the potential to achieve this and that many of these institutions have already invested considerable capital into the technology at the fastest rate to date, suggests that the turning point has already occurred. In addition, the recent announcement that the NYDFS has released the final version of its long-awaited regulatory framework for digital currency companies shall provide clarity to the industry as a whole and ease concern regarding over-regulation and the threat of stifling growth and innovation.
Q: Investorideas.comWhat do you think are some of the hurdles and obstacles for Bitcoin?
A: Mr. Brad Moynes, President of Bit-X Financial CorpPerhaps over regulation. Bitcoin appears to be holding its value at current levels and the Blockchain is gaining considerable awareness across a broad selection of industries. I would expect many hurdles & obstacles along the way but with big break-through ideas later this year and in 2016 to look forward to.
Q: Investorideas.comWill your exchange, when launched, offer any educational tools for trading and investing in Bitcoin? What kind of investors/traders do you see currently in the space and do you see the demographics changing?
A: Mr. Brad Moynes, President of Bit-X Financial Corp.The exchange will offer our users the tools they need to buy & sell crypto-currencies including Bitcoin. Our customer service will be the best in the business with rapid response time to meet user demands, answer questions and provide solutions. We will also have a Bitcoin forum for users to create various discussion topics. Generally these forums are an excellent way for users to gain information and educate among themselves.
There are several investor/trader profiles which include day-traders, medium to long-term investors seeking capital gains and entities who offer investor's exposure to Bitcoin via open market equity-share purchases that tie their shares to an underlying asset [bitcoin] on a pre-determined ratio basis.
A beneficial change to the demographic would be an increase in demand for bitcoin in day-to-day use and consumer point of sale purchases.
Michael SonnensheinQ: Investorideas.comThe Bitcoin Investment Trust's shares are the first publicly quoted* securities solely invested in and deriving value from, the price of Bitcoin. Can you tell investors how investing in the shares of (GBTC) will give them a different value/investment opportunity than strictly trying to buy and sell Bitcoin?
A: Michael Sonnenshein, Director of Sales & Business Development, Bitcoin Investment Trust (GBTC)Purchasing Bitcoin outright can be a harrowing experience for investors. More often than not, they don't know who to purchase Bitcoin from (are there counterparties they trust), what price they should pay, or how to handle Bitcoin safely and securely. Even if investors can overcome these challenges, storing Bitcoin on one's own can be a liability. If Bitcoin holders are hacked or lose the private key to their Bitcoin wallet, they have zero recourse.
In sharp contrast to this experience, purchasing shares of The Bitcoin Investment Trust gives investors the ability to gain exposure to Bitcoin without the aforementioned challenges and through a titled security in the investor's name. Consequently, shares are eligible to be passed onto beneficiaries under estate laws and are eligible to be held in certain IRA, Roth IRA, and other brokerage and investment accounts (this is not possible with outright Bitcoin). The Bitcoin Investment Trust has also brought together credible service providers, as shares are marketed and distributed through a FINRA-registered broker-dealer, and the Trust's financial statements are audited annually by Ernst & Young LLP.
Each share of The Bitcoin Investment Trust represents approximately 0.1 Bitcoin and shares are tied to a daily 4pm net asset value that is representative of the Bitcoin market price. Qualified accredited investors have the ability to purchase shares of The Bitcoin Investment Trust at the daily NAV through an ongoing private placement. However, these shares carry resale and transfer limitations. Both accredited and non-accredited investors have the ability to purchase shares of The Bitcoin Investment Trust on OTCQX under the symbol: GBTC. These shares have been deemed freely tradable and are subject to market-driven price movement, which does not reflect the restricted shares daily NAV.
In offering these two avenues for investors, their Bitcoin exposure is able to sit alongside their existing investments and their exposure to Bitcoin is attained through a transparent and familiar experience. Additionally, as a titled security, The Bitcoin Investment Trust has resonated well with investors' financial advisors, lawyers, and accountants. More information on The Bitcoin Investment Trust is available through its sponsors website,www.grayscale.co
Q: Investorideas.comWhere does the company see the Bitcoin industry now as Wall Street has begun to embrace it and what was the turning point that legitimatized Bitcoin? Where do they see the future of Bitcoin1-5 years from now?
A: Michael Sonnenshein, Director of Sales & Business Development, Bitcoin Investment Trust(OTCQX: GBTC)Bitcoin is still in infancy and we'd liken where Bitcoin and digital currencies are in their development to the internet in the mid-to-late 1990's. Namely, just like there were plenty of naysayers who didn't believe in the internet's potential, there are folks who occupy that same mindset when it comes to Bitcoin. While we can't be sure of Bitcoin's ultimate fate, we can see is that there is an unprecedented amount of venture capital and human capital pouring into the space. Entrepreneurs are building the infrastructure and applications that will support Bitcoin's continued adoption and usage globally.
Over the past two years, there has been increasing attention paid to Bitcoin from Wall Street. Every bank, broker-dealer, asset manager, and other institution had formed internal task forces assigned to understanding Bitcoin. Recently, many of these firms (and the work of these internal teams) have begun putting their reputations on the line by publicly getting involved in Bitcoin with the likes of Goldman Sachs, UBS, Nasdaq, the NYSE, and other globally recognized institutions integrating Bitcoin into their businesses and/or making strategic investments in some of the aforementioned companies laying the ground work for increased adoption. I think we will continue to see more of these large players get involved in the space over the coming years and that Bitcoin and the underlying blockchain technology will ultimately shake up and transform the entire financial services landscape for the better.
Bios:Brian Kellywww.briankellycapital.comBrian Kelly is an investor, author, and financial markets commentator. He is an expert in global financial markets, macro-economics and digital currencies. Brian Kelly has over twenty years' experience in financial markets and is the author of the book "The Bitcoin Big Bang -- How Alternative Currencies are About to Change the World."
Brian is a graduate of the University of Vermont where he received a B.S. in finance. He also holds an M.B.A. from Babson Graduate School of Business with a concentration in finance and econometrics.
A passion for investments and entrepreneurship has led Brian to start several successful investment businesses. His most recent start-up BKCM LLC is a global investment management firm specializing in Global Macro and Currency investing.
Prior to BKCM LLC, Brian was Co-Founder and Managing Partner of Shelter Harbor Capital LLC and managed the Shelter Harbor Capital Global Macro Hedge Fund. As well, Mr. Kelly was a co-founder and President of MKM Partners, a brokerage firm catering to institutional investment managers.
Brian provides money management services to a select clientele and consults on digital currencies.
David Berger,Founder and CEO,Digital Currency Council (DCC)David Berger is the Founder and CEO of The Digital Currency Council (DCC), the leading provider of digital currency-related training, certification, and continuing education. Mr. Berger is an attorney with extensive experience in finance in the United States and Asia. He has a passion for building professional networks that support members' advancement with actionable commercial insight.
Prior to launching the DCC, Mr. Berger was the CEO of Americas at Campden Wealth, the parent company of the Institute for Private Investors -- the premier decision support network for ultra high net worth investors and family offices. Mr. Berger is also the founder of Private Investor Collective, a Hong Kong-based network for sophisticated private investors, and played a key role in the development of two network-based advisory firms for CEOs in Asia Pacific. He also founded Asia Executive Solutions, a Hong Kong-based strategy consulting firm, where his clients included SecondMarket, Corporate Executive Board, and NPD Group.
Prior to his career in finance, Mr. Berger was an attorney in the Washington, DC office of the global law firm O'Melveny & Myers LLP, where he focused on securities law. Mr. Berger also spent two years at the United States Department of Justice. He is a graduate of New York University School of Law and Emory University.
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 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."www.bitxfin.com
About The Bitcoin Investment Trust(OTCQX: GBTC)The Bitcoin Investment Trust is a private, open-ended trust that is invested exclusively in Bitcoin and derives its value solely from the price of Bitcoin. It enables investors to gain exposure to the price movement of Bitcoin without the challenge of buying, storing, and safekeeping Bitcoins. The BIT's sponsor is Grayscale Investments, a wholly-owned subsidiary of Digital Currency Group.
About Investorideas.comInvestorIdeas.com newswire is a global investor news source covering multiple sectors including Bitcoin and payment technology.
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BC Residents and Investor Disclaimer : Effective September 15 2008 -- all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info:http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.
[Random Sample of Social Media Buzz (last 60 days)]
Current price: 248.26$ $BTCUSD $btc #bitcoin 2015-06-18 07:00:05 EDT || $244.00 #btce;
$243.34 #bitstamp;
Instantly buy GH/s with BTC: http://bit.ly/LN53k1
#bitcoin #btc || Current rate: 3,802.28 bits per dollar. One #bitcoin is worth $263.00. http://BitsPerDollar.com/ || Current price: 235.09$ $BTCUSD $btc #bitcoin 2015-05-30 03:00:03 EDT || 1 #bitcoin 614.51 TL, 234.5 $, 209 €, 150.19 GBP, 11275.00 RUR, 28550 ¥, 1406 CNH, 283.4 CAD #btc || Current price: 208.83€ $BTCEUR $btc #bitcoin 2015-06-16 07:00:03 CEST || 1 #bitcoin 649.93 TL, 241.715 $, 217.001 €, 148.40001 GBP, 12270.00 RUR, 29639 ¥, 1484 CNH, 294.55 CAD #btc || buysellbitco.in #bitcoin price in INR, Buy : 15696.00 INR Sell : 15208.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || buysellbitco.in #bitcoin price in INR, Buy : 16309.00 INR Sell : 15800.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || buysellbitco.in #bitcoin price in INR, Buy : 15258.00 INR Sell : 14782.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin
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Trend: up || Prices: 271.91, 269.03, 266.21, 270.79, 269.23, 284.89, 293.11, 310.87, 292.05, 287.46
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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 2018-08-06]
BTC Price: 6951.80, BTC RSI: 40.34
Gold Price: 1208.60, Gold RSI: 29.63
Oil Price: 69.01, Oil RSI: 48.65
[Random Sample of News (last 60 days)]
Yahoo Finance Morning Brief: June 14, 2018: Thursday, June 14, 2018 What to watch today The world’s central banks are tightening monetary policy. On Wednesday, the Federal Reserve announced a quarter point interest rate hike and signaled two more hikes would come by the end of the year. Later Thursday morning, the European Central Bank is expected to announce its plan to end its stimulative asset purchase program . Analysts warn these actions could lead to some market volatility as liquidity is pulled out of the financial system. Meanwhile, bitcoin ( BTC-USD ) and cryptocurrencies have been getting slammed in recent days. Bitcoin is now below $6500. This will be a hot topic at Yahoo Finance’s All Markets Summit: Crypto , which kicks off at 12:00 p.m. ET today. Read More Top news Photo/REUTERS/Eduardo Munoz Comcast offers $65B to lure Fox from Disney bid : Comcast Corp. ( CMCSA ) offered $65 billion on Wednesday to lure Twenty-First Century Fox Inc. ( FOXA ) away from a merger with Walt Disney Co. ( DIS ), setting up a bidding war between two of the largest U.S. media companies with its 20% higher offer. Comcast Chief Executive Brian Roberts said he was highly confident regulators would allow Comcast to acquire most of Fox’s media assets after AT&T Inc.’s ( T ) court victory on Tuesday, which allowed it to buy Time Warner Inc. ( TWX ) for $85 billion. [Reuters] Apple closing iPhone security gap : The gap that allowed outsiders to pry personal information from locked Apple ( AAPL ) iPhones without a password, a change that will thwart law enforcement agencies that have been exploiting the vulnerability to collect evidence in criminal investigations. The loophole will be shut down in a forthcoming update to Apple’s iOS software, which powers iPhones. [AP] Trump to meet advisers on China tariffs as Beijing urges talks : U.S. President Donald Trump will meet with his top trade advisers on Thursday to decide whether to activate threatened tariffs on Chinese goods, a senior Trump administration official said, as China again urged talks to settle the dispute. Trump is due to unveil revisions to his initial tariff list targeting $50 billion of Chinese goods on Friday. [Reuters] Story continues WeWork is raising funds at $35B valuation : WeWork Cos. is seeking to raise funds at a $35 billion valuation, a price tag that would place the co-working startup above companies like Airbnb and SpaceX, according to an executive at SoftBank Group Corp., which is a major WeWork investor. [Bloomberg] For more of the latest news, go to Yahoo Finance Achilles the cat, one of the State Hermitage Museum mice hunters, lies on a table after attempting to predict the result of the opening match of the 2018 FIFA World Cup between Russia and Saudi Arabia in St.Petersburg, Russia, Wednesday, June 13, 2018. Achilles chose Russia. (AP Photo/Dmitri Lovetsky) Yahoo Finance Originals Facebook, Google, and your data played a part in the AT&T-Time Warner decision 3 key takeaways about managing credit card debt What citizens around the world worry about most Reviewed: Apple HomePod goes stereo and multi-room — Like what you just read? Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. And feel free to share it with a friend! The Morning Brief provides a quick rundown on what to watch in the markets, top news stories, and the best of Yahoo Finance Originals. || Why Sonic, National Beverage, and Aquinox Pharmaceuticals Slumped Today: Stocks declined on Wednesday as investors continued to worry about U.S. trade policy, but not before attempting to rally earlier in the session after President Trump announced plans to update existing laws to limit or prevent investments by China in U.S. tech companies. The move marked a less restrictive approach than the alternative of relying on direct executive actions. Still, some individual companies fared worse than most. Read on to learn why Sonic Corporation (NASDAQ: SONC) , National Beverage (NASDAQ: FIZZ) , and Aquinox Pharmaceuticals (NASDAQ: AQXP) plunged today. Stock market prices and data on a colorful LED display Image source: Getty Images. Sonic's bland quarter Shares of Sonic fell as much as 12.5% early in the session, then partially recovered to close down 4.5% after the drive-in restaurant chain announced mixed quarterly results. On the one hand, Sonic's quarterly revenue declined 4.6% year over year to $118.3 million -- below consensus estimates for $120 million -- including the effects of both refranchising transactions and a 0.2% decline in systemwide same-store sales. On the other hand, that translated to 21% growth in adjusted earnings per share to $0.52, above expectations for earnings of $0.49 per share. For perspective, when Sonic released preliminary results ahead of conference presentations a few weeks ago, it told investors to expect same-store sales to be roughly flat as compared to the year-ago period. Still, CEO Cliff Hudson noted the company's comps performance reflected a "material improvement in trend, driven by ongoing initiatives to increase marketing reach, refresh our advertising creative and introduce relevant new products." Finally, despite its relative earnings outperformance this quarter, Sonic revised its full-year guidance for earnings per share to be between $1.45 and $1.49 (narrowed from between $1.43 and $1.50 previously). That's not to say Sonic didn't make progress this quarter, but it's clear its top-line miss has left a bad taste in shareholders' mouths. Story continues National Beverage goes under the SEC's microscope National Beverage stock dropped 8.9% after The Wall Street Journal reported (may require subscription) that the maker of flavored seltzer beverage LaCroix has declined to explain its colorful claims of growth as requested by the U.S. Securities and Exchange Commission (SEC). In particular, National Beverage CEO Nick Caporella has raised eyebrows across Wall Street by claiming that the company has "magnified" two internal sales metrics -- velocity per outlet (VPO) and velocity per capita (VPC) -- in response to "growth never before thought possible." So in January, the SEC asked National Beverage to elaborate on those metrics. It also asked the company to offer "comparative amounts or explain why you do not believe this disclosure is necessary." However, National Beverage ultimately opted for the latter. "This information is as secretive as the formulas of our beverages and should not be disclosed to our competition," National Beverage controller Gregory Cook wrote in their response to the SEC. Of course, that doesn't mean National Beverage has done anything wrong. But the snub undoubtedly calls into question whether the company is wrongly withholding information that could help investors more effectively form a buy or sell thesis for the stock. Aquinox Pharma's massive disappointment Shares of Aquinox Pharmaceuticals plummeted a jaw-dropping 84.7% after the company announced its bladder pain drug candidate, rosiptor (AQX-1125), has failed to meet its primary endpoint. CEO David Main called it a "disappointing result for Aquinox and for patients," noting that the "robust and well-conducted trial" failed to demonstrate a benefit of rosiptor over placebo for treating interstitial cystitis/bladder pain syndrone (IC/BPS). As such, Aquinox is halting all further development of rosiptor. Main further promised they will perform a "thorough evaluation of our pipeline and other strategic options available to the company," but elaborated that they won't be able to provide further guidance until later this year. In the meantime, considering rosiptor was Aquinox's only product in development , it's hard to blame investors for running to the exits 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 Steve Symington 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 . || Why GoPro Stock's Recent Turnaround Will Be Short-Lived: GoPro (NASDAQ: GPRO) investors breathed a huge sigh of relief after the company's fiscal first-quarter results turned out better than expectations early last month. This seemed to vindicate the company's strategy of ditching its Karma drone business, which allowed it to cut expenses significantly. Selling more action cameras this time on the back of a stronger marketing push , as well as the launch of a budget device, helped GoPro keep the top-line slide in check. The company's revenue fell just 7.4% year over year, half of what Wall Street was originally anticipating, so it wasn't surprising to see why the bulls applauded the results. But a closer look indicates that the action-camera specialist's turnaround might not be sustainable. GoPro Hero action camera. Image Source: GoPro GoPro is losing pricing power GoPro's action camera shipments rose to 758,000 units during the latest quarter from 738,000 in the year-ago period. But the company had to rely on the $199-priced Hero to move so many units this time. GoPro's gross margin fell 9.2 percentage points year over year to 22.2%, which isn't surprising given that the average selling price (ASP) of its action cameras fell nearly 10% year over year to $267. GoPro blames this drop on its exit from the high-margin drone business, as well as its strategy of capturing more customers by selling a cheap but feature-rich action camera. But sadly, that's the way the company has decided to go now. GoPro plans to stick to its strategy of selling action cameras at three price points -- $199, $299, and $399. However, CEO Nick Woodman made it very clear that GoPro's entry-level device will be the one driving sales growth, as the company plans to start distributing the Hero through big-box retailers Walmart and Target in the second quarter. This means that GoPro isn't worried about losing its premium action camera status and is willing to become a mass-market company instead. So don't be surprised if the company's average selling price trends even lower, inching closer to the $200 mark. Story continues What's more, GoPro has been known to discount its products in order to clear inventories. The company has done this on a few occasions in the past after building too many cameras that went unsold. It will take just one misstep for GoPro to overestimate demand, offer deep discounts, and slash the price of the Hero to even lower levels, suffering further hits to profitability in the process. The company could be facing such a prospect very soon, as it plans to launch new, higher-margin products just in time for the holiday quarter. GoPro believes that these new products can push its gross margin into the 30%-plus range thanks to lower development costs, but even then, GoPro won't be a profitable business, as it is looking to win over customers through marketing instead of innovation. Moving toward mediocrity GoPro is busy cutting costs because it badly wants to break even after failing to make money for so long, despite being a pioneer in the action-camera space. The company wants to keep its operating expenses below $400 million this year, compared to $548 million in 2017, but this also means that it will have less money to spend on research and development. In fact, GoPro's R&D spending fell nearly 23% year over year last quarter. The company decided to funnel the cost savings from layoffs and the drone exit into marketing campaigns, and it plans to keep doing the same. Woodman will ramp up marketing spend every quarter leading into the holiday season, but the company will maintain its $400 million operating expense cap. This means that GoPro will be cutting corners as far as R&D is concerned, which isn't a good idea -- it will keep losing its competitive edge to the low-cost Chinese competition that's already clipping at its heels. In fact, a higher R&D outlay in the past has generally led to an increase in GoPro's sales, aside 2016, when it discontinued three of its budget action cameras that were cannibalizing sales and spent the money on the development of the now-discontinued Karma drone. Chart comparing GoPro's R&D expenses to revenue. Data source: GoPro's quarterly reports. Chart by author. The company went on the defensive in 2017 after a terrible showing the year before, launching the Hero6 Black and the Fusion 360-degree camera in a bid to improve flagging sales. But the Hero6 was more of an incremental upgrade, while the $699-priced Fusion isn't helping much to drive sales as the decline in GoPro's average selling price indicates. Playing defense isn't the best strategy GoPro seems to have lost its innovative edge -- as such, it has prioritized marketing to survive in a space that's been commoditized by an invasion of Chinese manufacturers such as SJCAM and Xiaomi. So it won't be surprising if the company's focus on selling lower-cost cameras backfires, as the competition in the budget action camera space is more intense, with new start-ups popping up quite often. This is why investors need to accept that GoPro won't be able to hit its lofty margin expectations and will remain in the red until something big comes along. As fellow Fool Travis Hoium points out, the company will need to ship five million cameras to hit breakeven at a 30% gross margin. But with its current margin profile and declining average selling prices, it will need to sell much more than that. Unfortunately, GoPro is currently on track to sell only three million cameras this year at last quarter's run rate. The latest rebound will likely prove itself to be a mirage more than a sustained rally. 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 Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends GoPro. The Motley Fool has a disclosure policy . || 2 Clinical-Stage Biotech Stocks That Could Soar Next Week: Although it's never a good idea to try to time the market, there are undoubtedly better times than others when it comes to buying clinical-stage biotech stocks. If you buy too early, for instance, you can end up having to wait years before a company reaches an important clinical milestone, and that could mean enduring multiple rounds of dilution as well. With this theme in mind, I think investors may want to take a close look at the clinical-stage biotechs Galectin Therapeutics (NASDAQ: GALT) and Verastem (NASDAQ: VSTM) heading into next week. In short, I believe these two biotechs are gearing up for a healthy move higher soon, perhaps making them great buys right now. Here's a deeper look at why. 3-D image of DNA molecules floating in a deep blue background. Image Source: Getty Images. A rising tide Companies working on drugs for a form of fatty liver disease known as nonalcoholic steatohepatitis (NASH) have been screaming higher of late due to the clear need for viable treatment options, along with the fact that this underserved space is forecast to grow into a $20 billion to $35 billion market in less than a decade. Galectin, a small-cap biotech with a platform focusing on carbohydrate technology that targets galectin proteins, appears primed to be the next biotech to benefit from this rising tide phenomenon. Galectin's claim to fame is that it's one of the few companies developing a drug to treat an especially severe form of this fatty liver disease, namely NASH patients with cirrhosis. Unfortunately, the biotech reported mixed midstage results for its lead NASH candidate, GR-MD-02, late last year, causing the company's stock to crater. In brief, GR-MD-02 missed its primary endpoint of reducing venous pressure within the liver portal system when all subjects were included in the analysis. But the drug did exhibit a significant treatment effect in a subset of patients who lacked esophageal varices (dilated veins in the esophagus resulting from portal hypertension). Galectin has thus decided to move forward with a late-stage trial focusing solely on NASH patients without esophageal varices. Story continues Why is this small-cap biotech ready to break out? Oddly enough, Galectin's stock seems set to heat up only in part because of GR-MD-02's progression into a pivotal stage trial. The main reason, on the other hand, is the growing potential for a lucrative licensing deal for GR-MD-02, or an outright acquisition of the company. And a deal could be coming soon. Galectin, after all, released an intriguing 8-K last month outlining how certain executives may be eligible to receive a "transaction" or "acquisition" bonus that constitutes up to a maximum of 300% of their annual salary if a deal comes to fruition. Such a move makes strategic sense for Galectin because the company arguably doesn't have the financial resources to bare the entire expense of a large pivotal-stage trial. And now seems to be the perfect time to cut a deal. After all, these drugs are reportedly attracting significant acquisition interest from heavy hitters like Bristol-Myers Squibb right now. This news has already started to light a fire under Galectin's shares in the last few sessions, and this positive momentum is likely to carry over into next week. An under-the-wire cancer play Verastem is a small-cap oncology company that's already hit two key milestones for its lead blood cancer drug candidate duvelisib in recent months. Digging into the details, the biotech reported positive late-stage results for duvelisib in patients with advanced chronic lymphocytic leukemia late last year, and followed this clinical success up with a rapid regulatory filing with the Food and Drug Administration (FDA) only a few months later. As a result, the FDA is presently expected to make a decision regarding duvelisib's pending New Drug Application by Oct. 5 of this year. But with the drug showing unprecedented results in this extremely sick patient population, I wouldn't be surprised if the agency approved duvelisib well before this target date. Why is this stock set to move higher next week? The big-ticket item is that Verastem issued a secondary offering last Friday that reportedly raised $43 million in proceeds for the company. While secondary's rarely excite retail investors , this case is unique. Verastem now has enough cash on hand to launch its lead product candidate perhaps as early as the third-quarter of this year, assuming approval. That's a major obstacle that all nearly early commercial-stage biotechs have to overcome, and Verastem has now jumped through that particular hoop -- possibly paving the way for a smooth transition from clinical to commercial-stage biotech later this year. Is either stock worth buying? I believe the answer is "yes" in both cases. Although Galectin did have to narrow the target market for its experimental NASH drug, this drug did show a compelling treatment effect in this smaller patient population. And as no other NASH candidate is pursuing this particular indication right now, Galectin should be able to attract a partner without much trouble. Verastem, on the other hand, seems to be barreling toward its first regulatory approval for an absolutely red-hot segment of oncology. This hidden gem therefore appears primed to head higher in the weeks and months ahead. 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 George Budwell 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 Happens to Your Retirement Account if You Change Jobs?: The average American worker will have 11 to 12 jobs in their lifetime, according to the Bureau of Labor Statistics, and chances are several of these jobs will be with companies that offer a 401(k). But few people know what to do with these accounts when they leave their old jobs for new ones, so they often don't do anything at all. While that is one option, it may not be the best one for you. Here's a look at all the possible ways to deal with your old retirement account. Businessman surrounded by question marks Image source: Getty Images. 1. Leave it where it is It's not uncommon for people to leave their retirement savings in their old accounts after they leave their jobs. It's certainly the easiest route, but it's often not the smartest one. Your 401(k) likely gives you fewer investment choices than a traditional or Roth IRA , plus you could still get stuck paying the administrative fees even though you're no longer actively contributing to the account. Another problem with leaving all your old retirement accounts where they are is that it makes your retirement savings more difficult to manage. You may stop rebalancing older accounts, and it's possible to forget about them entirely. The only time it's a good idea to leave the money in an old 401(k) is if you have a lot of money in there and a good portfolio of investments that you'd like to stick with. Even if you want to leave your money in your old retirement account, you may not be able to do so. If your account has less than $1,000 in it, your former employer can choose to force you out of the retirement plan by issuing you a check for the balance, minus income tax. If you put that amount into a new retirement account within 60 days, the withheld taxes will be returned to you with your next tax return. If you fail to put that amount into retirement savings, you'll pay an additional 10% early withdrawal tax on the full amount if you're under age 59 1/2. You can still be forced out of your old 401(k) if your account has more than $1,000 but less than $5,000. In that case, your employer must transfer that money to an IRA. You don't get any say in which IRA it goes into unless you've indicated that you want the money sent to a new account that you've set up. More on that below. Story continues 2. Roll the money over to a new employer-sponsored plan If your new employer offers a 401(k) and permits rollovers, you can have your old retirement savings transferred over to your new account. The advantage of going this route is having your money all in one place. The disadvantage is that your investment choices will still be limited compared to those offered by an IRA. You should note that this may not yet be an option for you if your new employer requires you to work for the company for a set period before enrolling in its retirement plans. If you decide to roll over your old retirement savings to your new employer-sponsored plan, there are two ways you can go about it. The easiest way is to get your old plan administrator to transfer the funds directly into your new account. Your new job's human resources department will be able to help you fill out the necessary paperwork to initiate the transfer. You can also elect to receive the full balance of the old account as a check that you must deposit in the new account within 60 days to avoid any penalties. If you fail to do so, you will be taxed on the full amount, and you'll pay an additional 10% early-withdrawal fee if you're under 59 1/2. 3. Liquidate the account You can cash out your account by requesting that your employer send you a check for the full balance of your retirement account, but this is almost never the way to go. You'll be hit with expensive taxes and penalties in the short term, and you'll lose out on the compound interest that money could have earned in your 401(k). Let's assume you make $40,000 a year and have $30,000 in your retirement account. If you cash it out this year, you'll pay 22% tax on it, reducing the total to $23,400. Individuals under 59 1/2 will also have to pay an extra 10% early withdrawal penalty, bringing that amount down to $21,060. And that's not considering any state taxes. On the other hand, leaving that money in your old retirement account or transferring it to a new one enables you to continue growing those savings. If you're 30 years from retiring, that same $30,000 could grow into $302,000, assuming an 8% annual return. So if you are thinking about cashing out your account, just be aware that you could literally be throwing away hundreds of thousands of dollars. 4. Roll the money over into an IRA This is usually the best option for most people. Rolling your old 401(k) over into an IRA opens up a whole new world of investments, so you have more freedom to choose where to put your money. You also have a greater choice of custodians. If you already have accounts with an investment company that you like, you can set up your new rollover IRA there so you can easily manage all of your savings in one place. Transferring your old retirement savings to a new IRA is the same as transferring it to a new 401(k). You can either have your old plan administrator send the money directly to your new account or have them send you a check -- which, again, you must deposit within 60 days if you want to avoid paying any taxes or penalties. Make sure you consider all of your options before deciding what to do with your old retirement account savings. What's right for one person isn't always right for the next, and what's right for you the first time you change jobs might not be the right move for your next job change. By evaluating all of your options thoroughly every time, you can keep your retirement savings manageable -- and growing. 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 . || Bitcoin Braces for Crucial Test: Investing.com Bitcoin's tumble continued Wednesday as the popular crypto neared a crucial test of its four-month low amid ongoing selling pressure. Bitcoin fell 4.51% to $6,240 on the Bitfinex exchange, but had traded as low as $6,107.9 just above its more than four-month low of $6,000 seen in February. Some crypto observers said that bitcoin's fall to near $6,000 would prove a crucial test of investor appetite for the crypto, warning that a plunge beyond this price level could turn ugly, sending bitcoin sharply lower. "We keep going down, and were testing new lows. Sixty-two-fifty is the next point. If it goes under that, were going to test 5,900," Ran Neu-Ner, host of CNBC Africas Crypto Trader told CNBC on Tuesday. Demand for cryptocurrencies including bitcoin is fading quickly as the sharp downturns trigger fresh waves selling of pressure, wiping billions from the crypto market. With no new inflows, cryptos could struggle to regain upward momentum. The total market cap of cryptocurrencies fell to about $268 billion, at the time of writing, from $282 billion on Tuesday. Other large-cap cryptos followed bitcoin's sharp move lower. Ripple XRP fell 6.37% to $0.51811 on the Poloniex exchange, while Ethereum fell 3.66% to $471.09 Bitcoin Cash fell 4.64% to $827.16, while Litecoin fell 7.16% to $92.21. Related Articles SEC Investing In America Discussion: Live Comments On ICO Regulations 5 Percent of Monero in Circulation Was Mined Through Malware, Research Finds Cryptocurrency tether used to boost bitcoin prices, study finds || Bitcoin's Price Slides Below $6.5K to Hit 70-Day Low: The price of bitcoin, the world's largest cryptocurrency by market capitalization, fell to its lowest point since April 1 on Tuesday.
Bitcoin's value slid to $6,455.92 during the afternoon trading session, dropping more than $280 in the span of two hours, according to data from CoinDesk'sBitcoin Price Index. This represents the lowest figure since the start of April when the BPI registered a low of $6,443.
The charts suggest a support of $6,436 â if current levels are broken, the next major support is $6,000, borne from the lows from early February of this year.
Things I Did... Bitcoin Braces for Bear Market With Feel-Good Tweets
As of press time, the BPI is reporting a price of $6,523.86.
As of press time, bitcoin is down 5.82 percent in the last 24 hours. Further, on a year-to-date basis, bitcoin is reporting a 60 percent depreciation overall.
Tuesday's session saw downward developments for other major cryptocurrencies as well. For instance, litecoin, the world's sixth largest cryptocurrency by market capitalization, is now approaching $98 â a price not seen since December of last year.
Bitcoin Prices Stabilize Above $6K – But Will They Stay?
EOS is also down 12% on the day, representing a total decline of 34% since June 4th.
Meanwhile, the total market capitalization of all cryptocurrencies is just over $280 billion, according to data published by CoinMarketCap.
Image via Shutterstock
• Sell-Off Over? Bitcoin's RSI Just Hit Its Lowest Level Since 2016
• Relief Rally Ahead? Litecoin Looks Oversold Below $100 || Amazon Has a New Plan to Cut Its Shipping Costs: For the last few years, Amazon (NASDAQ: AMZN) has experimented with various solutions to deliver packages the "last mile" from its fulfillment centers to customers' homes. It's long relied on partners like UPS (NYSE: UPS) , FedEx (NYSE: FDX) , and the United States Postal Service to help in the ever-increasing number of packages it's tasked with fulfilling. More recently, it started enabling independent contractors to use their own vehicles to deliver packages for Amazon, and it's experimenting with a delivery service for third-party merchants on its Marketplace platform. The latter allows larger merchants to ship directly from their own warehouses and consolidates the expenses associated with selling on Amazon. Amazon's latest move is called Delivery Service Partners. The program makes it easy for entrepreneurs to start their own logistics companies utilizing the built-in demand of Amazon customers. No need to worry about finding customers -- Amazon says it has enough demand to support hundreds of small logistics businesses. Amazon will help set up interested parties with Amazon-branded vans, uniforms, and equipment, as well as everything they need to get their businesses off the ground, including insurance. Delivery Service Partners agree to prioritize Amazon's packages, and those using Amazon's equipment will only be able to work with Amazon exclusively. The move brings Amazon one step closer to being self-reliant when it comes to delivering packages. A man in a van with the Amazon logo showing a woman something on a smartphone. Image source: Amazon Shipping costs Amazon's shipping expenses have grown extremely high over the last few years as more and more customers join Amazon Prime. Shipping costs from online sales, third-party seller services, and subscriptions (mostly consisting of Prime) as a percentage of revenue have risen dramatically over the last two years. Data source: Amazon quarterly reports. Chart by author. In the first quarter of 2016, Amazon spent $0.126 of each dollar it made in revenue for its online retail operations. Last quarter, that number climbed to $0.154 per dollar. Story continues Shipping costs have outpaced revenue growth in recent years for several reasons. As mentioned, Amazon Prime is increasingly popular. That means more customer orders requiring expedited shipping, which can become expensive. Additionally, the growth of Fulfillment by Amazon, a service Amazon provides to third-party merchants to store and ship their merchandise, has grown increasingly popular over the last few years, as well. That's increased third-party merchant services revenue, but can come with additional shipping expenses to manage inventory across dozens of warehouses throughout the United States. Perhaps the most important factor in Amazon's shipping costs is the delivery from Amazon's fulfillment centers to customers' homes. UPS and USPS mostly handle those deliveries for Amazon, and Amazon accounts for billions of dollars in revenue for those companies. Amazon says it's not looking to displace those partnerships, but it continues to develop new shipping programs for itself and its third-party merchants. The future of Amazon Amazon's move to create its own shipping service is a smart move given the current political environment. President Trump has called into question the profitability of the USPS contract with Amazon, and it could result in a significant rate hike as it's under review this year. Such a hike would be devastating for Amazon, as it uses the USPS for about 40% of its shipping needs, according to analyst estimates. Amazon still has the option of using UPS or FedEx should a USPS rate hike go into effect, but establishing hundreds of partnerships with small businesses where Amazon sets the rates it's willing to pay is a much more effective hedge. More importantly, as Amazon builds out its network of fulfillment centers across the country, expands its fleet of cargo planes and delivery trucks, and brings on more Delivery Service Partners, it could start to effectively compete with UPS and FedEx for business outside of its own retail operations. Not only could the new program be a way for Amazon to cut an expense that's climbing faster than revenue, it could be a way for it to eventually add to the top line, as well. 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 Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Adam Levy owns shares of Amazon. The Motley Fool owns shares of and recommends Amazon. The Motley Fool recommends FedEx. The Motley Fool has a disclosure policy . || 2 Stocks on My Forever List: for·ev·er -- for all future time; for always -- Oxford Living Dictionaries I thought I would address the most obvious question you might have about the headline of this article first. What do I mean by forever ? To be honest, I don't think there's any stock I would simply buy and never look at again. However, as Warren Buffett noted in the 1988 Berkshire Hathaway shareholder letter, "When we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever." Some have interpreted this to mean that Buffett would never sell stocks, but that simply isn't the case. He has since clarified his famous statement, saying that he will sell stocks under certain conditions including "if we needed money for something else," or "we don't think their competitive advantage is as strong as we thought it was when we initially made the decision." Still, there are some companies that are leaders in their respective industries and have so much going for them that holding for the ultra-long term seems reasonable. That's why I plan to hold Netflix (NASDAQ: NFLX) and Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) for a very long time, perhaps "forever." Infinity symbol composed of $100 bills. Image source: Getty Images. The future of viewing Recent advances in technology are changing the way the world consumes entertainment. Rather than catching programs at designated times, viewers are increasingly watching what they want when they want -- and no company deserves more credit for that changing paradigm than Netflix. The company popularized streaming just over a decade ago, and the practice has taken the world by storm. Netflix has achieved a penetration level estimated to be more than 50% of U.S. households, and its international expansion is well underway. The company announced in early 2016 that it had launched in 130 new countries, bringing the total geographies to over 190. This move has resulted in exploding subscriber growth, recently up 17% year over year to 125 million. This has led to revenue that has increased more than 30% year over year in each of the previous five quarters. The company's pricing power is another driver for the stock. Netflix recently increased its price -- and subscribers didn't blink. In October 2017, the price rose to $10.99 per month -- an increase of $1 -- for its most popular plan. A recent survey by Piper Jaffray analyst Michael Olson found that customers are less sensitive to the price than they once were. Man and woman watching TV in a darkened living room. Image source: Getty Images. Finally, as the company's global customer base increases, owning its content becomes less expensive on a per-subscriber basis. The company also benefits from producing original content in lower-cost locations that can then be viewed by customers around the world. Story continues With multiple potential catalysts for future growth, I think Netflix is an ideal stock to hold forever. Pursuing multiple futures While Netflix does one thing and does it very well, Alphabet, the parent company of Google, is pursuing multiple different avenues that could result in massive future returns. The most obvious and well-known, of course, is Google search, which controls more than 90% of the worldwide search market. The company also has a massive 1.8 billion registered users watching video on YouTube each month. These two platforms provides the company with an unparalleled outlet for its primary moneymaker -- advertising. The company controlled more than 38% of U.S. digital ad revenue in 2017, and accounted for a disproportionate share of last year's growth. Alphabet grew its total revenue by 23% year over year in 2017, while its profits jumped 22%, excluding one-time charges related to U.S. tax reform. A woman touches an interactive search display. Image source: Getty Images. Google's dominance in the digital ad space provides the company with a massive stream of cash flow to invest in other potential growth drivers. The company has made significant investments in a number of areas, including cloud computing , which has grown to a $1 billion-per-quarter business, and is now ranked third among the major cloud providers. Alphabet also made a significant investment in the area of self-driving cars -- and that is about to pay off. The company's Waymo segment plans to launch the world's first driverless ride-hailing service later this year in Phoenix -- a business it plans to expand across the country. Some analysts have conservatively pegged the value of that business unit at more than $70 billion, but also make the case that it could be worth as much as $140 billion. Any of these side businesses could provide massive upside going forward, adding to Google's continuing dominance in advertising. 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. Danny Vena owns shares of Alphabet (A shares) and Netflix. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Berkshire Hathaway (B shares), and Netflix. The Motley Fool has a disclosure policy . View comments || Bitcoin Cash, Litecoin and Ripple Daily Analysis – 04/08/18: Bitcoin Cash fell by 0.89% on Friday, following Thursday’s 5.01% slide, to end the day at $724.5, with five consecutive days of losses leaving Bitcoin Cash down 12.82% for the current week.
A continuation of Thursday’s sell-off saw Bitcoin Cash fall from an opening $731, through the first major support level at $706.2 to an early intraday low $700.3, before recovering to $720 levels in the early afternoon, Bitcoin Cash unable to break back through to $730 levels to end the day in the red.
The losses through the week reaffirmed the extended bearish trend formed back at early May’s swing hi $1,849.9, with a break back through to $900 levels needed to begin forming a bearish trend reversal.
At the time of writing, Bitcoin Cash was up 1.34% to $734.3, with Bitcoin Cash recovering from a start of the day low $721.7 to hit a morning high $739, breaking through the first major resistance level at $736.9, while the day’s first major support level at $706.2 was left untested.
For the day ahead, a move back through the first major resistance level at $736.9 would support a run at $740 levels to bring the second major resistance level at $749.3 into play, while we would expect Bitcoin Cash to fall short of $750 levels on the day.
Failure to break through to $740 levels in the early afternoon could see Bitcoin Cash go back into reverse, with a fall through the morning low $721.7 bringing the first major support level at $706.2 into play, though we will expect Bitcoin Cash to avoid sub-$700 levels in spite of the continued downward trend on intraday lows.
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Litecoin gained 1.73% on Friday, reversing Thursday’s 1.82% fall, to end the day at $77.55, with 4 days of losses through the week leaving Litecoin down 7.68% Monday through Friday.
Following the broader market, an early sell-off saw Litecoin fall to an intraday low $75, calling on support at the first major support level at 75.03 before recovering through the afternoon.
A late in the day intraday high $77.8 came within reach of the first major resistance level at $77.91 before easing back, the extended bearish trend firmly intact as Litecoin continued to fall well short of $90 levels and the 23.6% FIB Retracement Level of $98.
At the time of writing, Litecoin was up 0.1% to $77.68, with Litecoin recovering from a start of a day morning low $77.22 to break through to $78 levels before easing back, the early morning high falling short of the first major resistance level at $78.57.
For the day ahead, a break back through to $78 levels and a break through the first major resistance level at $78.57 would bring $79 levels into play for the first time since Wednesday, while breaking through the second major resistance level at $79.58 will likely be a stop too far, ending the day at $78 a positive outcome for Litecoin.
Failure to break back through to $78 levels could see Litecoin hit reverse, following Friday’s gains, with a fall through to $76 levels bringing the day’s first major support level at $75.77 into play, a hold above $76.8 through the morning key for Litecoin to avoid an afternoon tumble.
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Ripple’s XRP gained 2.34% on Friday, partially reversing Thursday’s 4.08% fall, to end the day at $0.44046, the week’s losses at just 2.88%.
An early slide to an intraday low $0.42161 saw Ripple’s XRP hold above the first major support level at $0.4209, with an early rebound seeing Ripple’s XRP break back through to $0.44 levels by mid-morning.
Ripple’s XRP broke through the first major resistance level at $0.4447 with an early afternoon intraday high $0.44633 before easing back, the extended bearish trend intact with Ripple’s XRP continuing to fall well short of the 23.6% FIB Retracement Level of $0.5528.
At the time of writing, Ripple’s XRP was up 0.65% to $0.44331, with Ripple’s XRP recovering from a start of a day morning low $0.43868 to move back through to $0.44 levels, an early morning high $0.44473 falling short of the first major resistance level at $0.4507.
For the day ahead, a move through to $0.446 would support a run at the first major support level at $0.4507, while we will expect $0.46 levels and the second major resistance level at $0.4609 to be out of reach on the day.
Failure to move through $0.446 and make a move for $0.45 levels could see Ripple’s XRP pull back later in the day, with a fall through to $0.43 levels bringing the first major support level at $0.4249 into play.
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Thisarticlewas originally posted on FX Empire
• Crude Oil Weekly Price Forecast – crude oil very noisy for the week
• AUD/USD Price Forecast – Aussie rallies significantly on Friday
• EUR/USD Weekly Price Forecast – Euro stock in consolidation
• Gold Price Forecast – Gold markets explode to the upside on Friday
• Silver Weekly Price Forecast – Silver continues to find major support
• GBP/USD Price Forecast – British pound very noisy after jobs number
[Random Sample of Social Media Buzz (last 60 days)]
@btc_fan || @btc_current || @whats_a_bitcoin || Bitcoinは低投資
7万円から始められます。 || @bitcoin_reddit || @btc_0 || @Bitcoin_Post || Btc - store of value
Eth - platform daaps
Monero -Privacy
Everything else shitcoin
Shitcoins make money dont missunderstand but theres still shitcoins tho || @Bitcoin_Stats || @Bitcoin_Stats
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Trend: down || Prices: 6753.12, 6305.80, 6568.23, 6184.71, 6295.73, 6322.69, 6297.57, 6199.71, 6308.52, 6334.73
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