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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 2019-02-05]
BTC Price: 3466.36, BTC RSI: 40.02
Gold Price: 1314.20, Gold RSI: 68.83
Oil Price: 53.66, Oil RSI: 54.92
[Random Sample of News (last 60 days)]
Bitcoin – The Bears Take Back the Reins to Deliver a Week in the Red: Bitcoin gained 0.83% on Saturday. Following on from a 0.88% rise on Friday, Bitcoin ended the day at $3,564.2.
A bearish start to the day saw Bitcoin fall to a morning low $3,502.9 before finding support to move through to a morning high $3,537.8. A lack of a market catalyst through the day saw Bitcoin fall to a late afternoon intraday low $3,498.8.
The pullback saw Bitcoin steer clear of the first major support level at $3,476.87. For the bulls, Bitcoin called on sub-$3,500 support for a 6thconsecutive day. In addition, Bitcoin managed to close out at $3,500 levels for a 4thconsecutive day.
After a move back through to $3,500 levels, a late in the day rally saw Bitcoin strike an intraday high $3,581 before easing back. The late rally saw Bitcoin break through the first major resistance level at $3,575.87.
Litecoin stole the show on Saturday. A 5.69% rally through the day continued to support the bullish outlook ahead of this August’s halving. For the rest of the top 10, Bitcoin Cash ABC gained 4.51%, with EOS up by 4.45%.
Finally, bucking the trend through the day, Tron’s TRX slipped by 0.76%. A partial reversal to a previous week 23% rally was to be expected. Pressure came from a number of the majors that are in the red for the current week.
As a result of a lack of news to provide direction for the cryptomarket, Bitcoin continues to languish at $3,500 levels. Bitcoin has now failed to break through to $3,600 levels for a 6thconsecutive day. Equally significant are more material gains made elsewhere through the start of the year. While Tron may be leading the back, Litecoin could be the February pick.
In contrast, Ripple’s XRP continues to lag the majors. Ripple’s XRP is down by 12.6%, year-to-date. While Litecoin is setting the early pace in February, Ripple’s XRP could be the dark horse should the bulls manage to take back the reins.
Get Into Cryptocurrency Trading Today
At the time of writing, Bitcoin was down 1.13% to $3,524.1. Bitcoin fell from a start of a day morning high $3,566.8 to a morning low $3,523.5 before steadying.
In spite of the pullback, Bitcoin held above the first major support level at $3,515 early on in the day.
Bitcoin will need to move through to $3,550 levels to support an afternoon recovery. Sentiment across the broader market will need to improve for Bitcoin to take a run at the first major resistance level at $3,597.2. We will expect that Bitcoin will fall short of $3,600 levels in the event of an afternoon recovery.
Failure to move through to $3,550 levels could see Bitcoin fall back deeper into the red. A fall through the morning low $3,523.5 to sub-$5,200 levels will likely bring the first major support level at $3,515 into play before any recovery.
Bitcoin will likely call on sub-$3,500 support levels before any recovery should the bears continue to control the broader market through the day.
Thisarticlewas originally posted on FX Empire
• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 02/02/19
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• Natural Gas Weekly Price Forecast – natural gas markets continue to show weakness
• Natural Gas Price Prediction – Prices Slide Through Support Despite Cold Weather || This Week’s Fed Meeting: Pressure on Powell to Sound Dovish, but Not Too Dovish: This week marks a pivotal period for U.S. Federal Reserve Policy. While the Fed is widely expected to raise it benchmark interest rates Wednesday by 25 basis points, traders are more likely to react to the comments of Fed Chairman Jerome Powell. The Bank of Japan is also expected to make an interest rate decision. It should leave its key short-term rate unchanged. The Bank of England is also expected to keep rates on hold.
Economic data releases will also be at the forefront with Australia set to release its latest data on the Employment Change and the Unemployment Rate. New Zealand Dollar traders will get the opportunity to react to the latest data on quarterly GDP. The week ends with investors paying close attention to U.S. Core Durable Goods Orders and Final GDP for the quarter.
Look for a 25 basis point rate hike from the Fed on Wednesday. As of Friday’s close, the futures market implied traders saw an 82 percent chance the U.S. central bank would increase key short-term rates by a quarter point to 2.25-2.50 percent at its policy meeting on December18-19, up from 79 percent on Thursday, according to CME Group’s FedWatch program.
Ahead of the meeting, investors are expressing concerns about the U.S. economy and whether the Fed would hike further after December. As recent as September, the Fed came out as a little too optimistic about the economy next year. At this meeting, they may come down a little on their assessment of future economic growth.
At its December meeting, theFederal Open Market Committeeis expected to tweak its economic forecast. It may also express some concerns over global growth. Fed Chairman Powell is also expected to hold a post-announcement press conference. At the briefing, he could discuss Fed officials’ concerns about the impact of trade wars and possibly financial conditions.
More importantly, the pressure is on Powell to sound dovish, but not too dovish as to raise fears about the strength of the economy. Stock market investors are hoping Powell sounds dovish enough to ease market fears that it is moving too aggressively. If he is able to pull this off then it may spark a rally in the equity markets.
Investors aren’t expecting anything new from theBank of Japan (BOJ). Look for policymakers to leave its benchmark rate unchanged at -0.1%. Japan is also scheduled to release its latest inflation data. The year-on-year rate of inflation of 1.4% hit in November is expected to remain unchanged. This will confirm the central bank’s assessment that despite years of monetary easing, it has not been able to reach its price stability target at 2%.
TheBank of England (BOE)is expected to keep interest rates unchanged at Thursday’s meeting. Policymakers are holding back on raising rates at this meeting because of recent mixed economic data and fears over Brexit.
Recent data shows the UK economy may be losing momentum so a rate hike at this time may curtail economic growth. However, there is a bright spot, strong wage figures suggest inflationary pressures are building in a labor market devoid of spare capacity. The major concern for BOE policymakers is how to handle the Brexit mess. Central bankers may have to sit on their hands until the government can strike a deal with the European Union, or leave the EU without a deal in March.
Thisarticlewas originally posted on FX Empire
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• U.S Mortgages – Rates Down Again, With More to Come IF the FED Turns || Bitcoin Price Retreats Under $3,400: Heres Why a Fall to the $2,000-Range May Be Inevitable: Bitcoin price In the last 24 hours, the Bitcoin price has dropped from $3,505 to $3,322 by more than five percent against the U.S. dollar. The abrupt decline in the Bitcoin price led the valuation of the crypto market to plunge by over $10 billion in a three-day span. Major crypto assets such as Bitcoin Cash (BCH) and EOS (EOS) recorded large losses throughout the past week and was surpassed by Tether (USDT) in market valuation. Read the full story on CCN.com . || 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 you’d 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 followingscriptplay out:
Note: this video was made after the transaction had already been tested.Here is the transactionwhere 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.
A bit of research using WalletExplorer revealsthat 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%.
Scamsand 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 user’s 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. It’s worth verifying such things, even when scams are so obvious.
The postBitcoin Generator “Exploit” Scam Clears Thousandsappeared first onCCN. || Pakistan Taps Blockchain Developed by $150B Alipay, But Forbids Bitcoin: The government ofPakistanis reportedly using a blockchain platform developed by Alibaba’sAlipay. But, cryptocurrencies likeBitcoinremain banned in the country for payments.
The initiative of the Financial Action Task Force (FATF) of Pakistan to utilize ablockchainapplication to combat money laundering demonstrates the typical “blockchain not Bitcoin” narrative pushed by central banks and large financial institutions.
Several months ago, Pakistan established a partnership with Telenor Microfinance Bank, a financial institution owned and operated byAlipay, a $150 billion fintech giant based in China that acquired a 45 percent stake in Microfinance Bank for $184.5 million.
This week, Pakistan announced the successful integration of Alipay’s blockchain remittance platform, relying on Standard Chartered Bank as the settlement bank to process cross-border remittance transactions betweenMalaysiaandPakistan.
The State Bank of Pakistan governor and president Tariq Bajwa stated that the implementation of the blockchain by the government marks a major milestone in the increase of financial inclusion in the country.
Bajwasaid:
This puts Pakistan on the map of very few countries in the world that have launched international remittance service using the blockchain technology.
However, speaking to The Express Tribune, the State Bank of Pakistan spokesman Abid Qamar said that Bitcoin and other cryptocurrencies remain prohibited by the government, raising questions on the motive behind the government’s push for blockchain technology adoption.
The government has integrated a blockchain platform developed by several companies that provide the central authority, in this case the SPB, significant control over the network. A permissioned ledger is conceptually similar to the existing systems employed by many central banks.
Hence, while the initiative of Pakistan may ostensibly seem like an open-minded approach towards fintech regulation, the government’s blanket ban on public blockchain networks in the likes of Bitcoin and Ethereum contradict the government’s current policy on the prioritization of financial inclusion.
Eric Jing, the chairman and CEO of Ant Financial, a subsidiary of Alibaba and the parent company of Alipay, said that emerging technologies can improve various areas within finance by increasing accessibility.
“The new remittance service is one of the examples of how emerging technologies can assist countries meet their digital and financial inclusion goals. We’re thrilled to be part of Pakistan’s financial inclusion efforts and we’re dedicated to exploring breakthroughs and applying them to benefit more people in more places,” said Jing.
One of the major contributing factors of limited financial accessibility in certain regions and developing countries is the presence of large-scale financial institutions and banks that set unrealistically high thresholds that create a challenging ecosystem for individuals to receive financial services.
To improve financial inclusion, the scope of individuals that are eligible for financial services has to increase but if the same banks are in charge of the development and operation of the network as seen in the dependence of Standard Chartered Bank, even with the implementation of the blockchain, it could have a minimal impact on the growth of financial inclusion.
Cryptocurrencies such as Bitcoin have the ability to provide financial freedom to individuals because it does not prevent or restrict individuals from utilizing the network. If individuals still have to through the same banks, authorities, and institutions, it remains unclear how the implementation of the blockchain could improve financial inclusion.
Featured image from Shutterstock.
The postPakistan Taps Blockchain Developed by $150B Alipay, But Forbids Bitcoinappeared first onCCN. || Echo Chamber: Craig Wright Takes Twitter Account Private to Avoid Dissidents: craig wright bitcoin sv Self-declared Bitcoin creator Craig Wright no longer wants to hear from non-followers how much he annoys them or how much they disagree with him. This became apparent after the Australian who resides in England changed the privacy settings of his Twitter account to protected status. Consequently, this not only disabled the retweeting feature but the move will prevent anyone who is not following him from viewing his tweets. Over the years Wright has demonstrated a high intolerance for criticism and he regularly reminds his Twitter followers of the ever-expanding list of things that could get them blocked. This includes begging him for money and even harmless actions like seeking opinions from him concerning altcoins: craig wright twitter The constant blocking of followers who disagree with him as well as moving his Twitter account to protected status will ensure that the only opinions that Wright gets to hear are only those he agrees with. And perhaps because of this intolerance, the number of comments on his tweets are usually in the single digits despite boasting of nearly 70,000 followers. The ‘Wright’ Way of Making Enemies But considering the number of enemies he has made in the crypto space, it is understandable why he would take such steps. Wright’s intolerance seems to have reached another level following the falling out with the Bitcoin Cash camp leading to a split which saw Bitcoin SV (“Satoshi Vision”) emerge. Just prior to the split, Wright had engaged in a war of words with the likes of Bitmain’s Jihan Wu and Bitcoin.com’s Roger Ver. At the height of the rivalry, Wu branded his nemesis Fake Satoshi, in reference to claims Wright made in 2016 that he is Satoshi Nakamoto, the creator of Bitcoin. Even Roger Ver, who had once bought into Wright’s claims, started harboring doubts last year in November as the remarks in a video he posted online showed: And Craig, if you did play a role or part in that like, thank you for that. If you did. I don’t know. I’m pretty damn skeptical at this point but truth is stranger than fiction sometimes. But I don’t think he did. That’s my opinion. If you want to prove otherwise just sign something with the genesis block. It’s that simple. Story continues Holiday Bile Even over the festive season, Wright refused to hold back and took to the microblogging platform to gleefully celebrate the supposed woes of his enemies. As virtually everyone else was spreading cheer and goodwill around the world, Wright took shots at Wu over reports that cryptocurrency mining rig manufacturer Bitmain was laying off staff . craig wright ethereum vitalik buterin That same day he also attacked Ethereum calling it a “Ponzi” while making the ridiculous claim that the co-founder of Ethereum, Vitalik Buterin, has never “really worked.” So far this year’ the prolific tweeter has already attacked the author of “Mastering Bitcoin,” Andreas Antonopoulos, saying he doesn’t understand Bitcoin and that “Nothing he tells you is right.” craig wright andreas antonopoulos twitter The year is only a few days old and one would be forgiven for assuming Wright’s major resolution was to expand his list of enemies! Craig Wright Image from YouTube/CoinGeek The post Echo Chamber: Craig Wright Takes Twitter Account Private to Avoid Dissidents appeared first on CCN . || Bitcoin Investors Still Spooked from the Thursday Meltdown: Bitcoin fell by 0.36% on Saturday, following a 0.05% gain on Friday, to end the day at $3,702. A relatively bearish start to the day saw Bitcoin fall from a morning high $3,730 to a mid-day intraday low $3,666.6, coming within range of the first major support level at $3,661.67 before moving back through to $3,700 levels. Through the 2 nd half of the day, Bitcoin called on sub-$3,700 support a number of times to avoid a pullback through to $3,500 levels, while pinned back from any run at $3,800 levels, an intraday high $3,734 coming up short of the days first major resistance level at $3,772.87 before easing back. For the Bitcoin bears, its been a fruitful week, with Bitcoin down 11.21% Monday through Saturday, 5 days in the red and Thursdays 9.07% tumble taking a bite. The sentiment has been reflected across the broader market, with the total cryptomarket cap down from a Monday high $138.76bn and a week high $138.79bn to $122.23bn by the end of the day on Saturday. Across the majors, Ethereum was amongst the biggest losers, sliding by 20% through the current week, with IOTA and Monero not far behind with losses of 19% and 18.8%, while Tron remained impressive, up by 1.2% to the end of Saturday, bucking the trend seen across the broader market. The majors are going to need more than a miracle to recoup the weeks losses, with the bearish sentiment that lingers continuing to pin Bitcoin and the majors back from a breakout from their current ranges, Tron being the only exception among the top 10 cryptos at the start of the year. Get Into Cryptocurrency Trading Today At the time of writing, Bitcoin was up by just 0.11% to $3,706.2, with Bitcoin recovering from an early morning fall to $3,674.8 to strike a morning high $3,712.9 before easing back, the days major support and resistance levels left untested early on. For the day ahead, holding onto $3,700 levels through the morning would support a move through the morning high $3,712.9 to bring the days first major resistance level at $3,735.13 into play, with the broader market needing to see upward momentum for Bitcoin to take a run at the second major resistance level at $3,768.27 before any pullback, $3,800 levels unlikely to be in play through the day. Story continues Failure to hold onto $3,700 levels through to the afternoon could see Bitcoin slide back through the morning low $3,674.8 to call on support at the first major support level at $3,667.73, with the second major support level at $3,633.47 in pay should the bears take control of the broader market later in the day, sub-$3,600 levels unlikely to be in play barring another crypto meltdown. Investors will be looking to brush off the current weeks heavy losses but, with the risk of more losses ever present, there will be some caution going into the 3 rd week of the year, few needing too much reminding of how the cryptomarket performed at the turn of the year last year
This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Jumps on Cold Risks, Crude Dumps on Slowdown Worries, Gold Steady Natural Gas Price Prediction Prices Rise to End the Week S&P 500 Weekly Price Forecast stock markets press previous important levels Silver Weekly Price Forecast Silver markets pause Bitcoin From Meltdown to Millpond U.S. Treasury Yields: Late Week Drop Attributed to Powells Warnings, Government Shutdown, Flat CPI Data || Will Bitcoin Make a Comeback in 2019, After a Rough 2018?: This article was originally published onETFTrends.com.
By David Drake viaIris.xyz
2018 was by all means a difficult year for cryptocurrencies, but the last two months have been even more challenging for the leading digital currency, Bitcoin. In November, Bitcoin traded at less than $4000, the lowest it has reached since October 2017. This price drop sent waves of panic across the market even as the prices of other cryptocurrencies plunged in a trend that lasted several weeks.
The price of Bitcoin tumbled despite the fact thatBloombergreported in a research by the Cambridge Center for Alternative Finance that in the initial three quarters of 2018, the number of verified digital currency users almost doubled.
According to the research, the number of cryptocurrency users hit the 35 million mark in 2018, up from 18 million in 2017, and 5 million in 2016. The number of cryptocurrency accounts also increased significantly to reach 139 million in 2018, up from 85 million in 2017.
Click hereto read more on Iris.
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READ MORE AT ETFTRENDS.COM > || USD/JPY Forex Technical Analysis – Strengthens Over 110.452, Weakens Under 109.445: The Dollar/Yen closed lower on Friday and for the week as investors prepared for next week’s U.S. Federal Reserve interest rate decision and monetary policy announcement. The weakness stemmed from expectations the central bank would leave interest rates unchanged and reports it was considering bringing an end to its balance sheet reduction program. Both moves are considered dovish by investors. On Friday, the USD/JPY settled at 109.545, down 0.093 or -0.08%. For the week, the Dollar/Yen closed down 0.229 or -0.21%. Earlier in the week, the Dollar/Yen rallied after the Bank of Japan cut its inflation forecasts but maintained its massive stimulus program. The BOJ also left interest rates unchanged. BOJ Governor Haruhiko Kuroda also warned of growing risks to the economy from trade protectionism and faltering global demand. Daily USD/JPY Daily Swing Chart Technical Analysis The main trend is down according to the daily swing chart. However, momentum is trending higher on the daily chart. The main trend will change to up on a trade through 113.710, while a move through 105.180 will signal a resumption of the downtrend. The main range is 113.710 to 105.180. The Forex pair has been trading inside its retracement zone at 109.445 to 110.452 the last six sessions. Clearly, this zone is controlling the near-term direction of the USD/JPY. The short-term range is 105.180 to 109.997. If there is a correction then 107.589 to 107.020 will become the primary downside target. Daily Swing Chart Technical Forecast Based on last week’s price action and close at 109.545, the direction of the USD/JPY is likely to be determined by trader reaction to the main 50% level at 109.445. Bullish Scenario A sustained move over 109.445 will indicate the presence of buyers. If this can generate enough upside momentum then look for a retest of last week’s high at 109.997. Taking out this level could extend the rally into the main Fibonacci level at 110.452. This price is a potential trigger point for an acceleration to the upside. Story continues Bearish Scenario A sustained move under 109.445 will signal the presence of sellers. The first minor target is 109.145. This could be the trigger point for an acceleration to the downside. The daily chart indicates there is plenty of room to the downside with the next major downside target coming in at 107.589 to 107.020. This article was originally posted on FX Empire More From FXEMPIRE: Gold Soars, Natural Gas Firms, Crude Oil Steadies Bitcoin – Who Will Break First, the Bulls or the Bears? Crude Oil Weekly Price Forecast – crude oil markets continue to press resistance Natural Gas Weekly Price Forecast – natural gas markets show support Gold Price Prediction – Gold Surges as the Euro Rises EUR/USD Forex Technical Analysis – Momentum Shifts to Upside with Formation of Weekly Reversal Bottom || UK Parliament Member Wants You to Pay Your Taxes with Bitcoin: A member of the British Parliament wants UK residents to be able to pay their local taxes and utility bills using bitcoin. Eddie Hughes, a conservative MP (member of Parliament) for the Walsall North constituency, said this would be a great first step toward mainstream adoption of crypto.
Hughes said it’s time for other members of Parliament to familiarize themselves with cryptocurrencies and blockchain because the revolutionary technologies and the buzz surrounding them aren’t going away,Express UKreported.
“It gets talked about a lot wherever you go in the UK, and as MPs we have a duty to understand it,” said Hughes, a self-proclaimed “crypto enthusiast with amateur knowledge.”
The 50-year-old lawmaker noted that the British charity RNLI (Royal National Lifeboat Institution) recently started accepting cryptocurrency donations.
“If we can do that, what’s to stop us being able to pay council tax and other bills with bitcoin?” Hughes asked.
Hughes’ suggestion comes two weeks after Ohio became the first US state to allow businesses topay taxes using bitcoin.
The state government has partnered with crypto payment processor BitPay to manage the payment in crypto and conversion to dollars, as CCN reported.
The idea is the brainchild of Ohio’s Republican state treasurer, Josh Mandel, a cryptocurrency fan who says bitcoin is “a legitimate form of currency.”
Mandel, an attorney, said he birthed the idea because he wants his state to become a leader in the US crypto market.
“Ohio is a place that’s embracing cryptocurrency, embracing blockchain technology, and sending the message to the rest of the country — to software developers, to entrepreneurs and others — that Ohio is open for business,”Mandel gushed.
Similarly, MP Eddie Hughes wants the UK to “plant a flag” and become a world leader in the burgeoning cryptocurrency industry.
“You’re either ahead of the curve or you’re behind the curve,” Hughes said. “Our country is in an interesting position right now. We are at a crossroads and we’re about to determine our future – one in which taking the lead in this field could prove very beneficial.”
Hughes said part of the reason why cryptocurrencies are not more widely adopted is because many people are unfamiliar with them.
“People not understanding how the transaction works is holding us back in terms of mass adoption,” he said. Hughes insists that once people understand how blockchain and crypto work, they will embrace it.
Eddie Hughes’ sense of urgency is mirrored across the pond by crypto-savvy US lawmakers.
As CCN reported, there’s a major push among some US Congressmen toposition the United Statesas a leader in the crypto industry.
Last week, Reps. Darren Soto and Ted Budd introduced two bills to prevent cryptocurrency price manipulation and enhance the United States’ position as a market leader.
In a joint statement, Soto and Budd said cryptocurrencies and blockchain have “profound potential” to bolster the economy.
“Virtual currencies and the underlying blockchain technology have a profound potential to be a driver of economic growth,” the congressmen said. “That’s why we must ensure that the United States is at the forefront.”
Soto and Budd said the laws they proposed would protect investors without hampering the “environment of innovation” that would maximize the groundbreaking potential of these technologies.
Featured Image fromWikimedia Commons
The postUK Parliament Member Wants You to Pay Your Taxes with Bitcoinappeared first onCCN.
[Random Sample of Social Media Buzz (last 60 days)]
Idk... ya got a slow poke, a Bitcoin enthusiast, and a sarcastic jack wagon.. sounds pretty dope || pic.twitter.com/zD7Ou5Who7 || ツイート数の多かった仮想通貨
1位 $TRX 431 Tweets
2位 $BTC 420 Tweets
3位 $XRP 137 Tweets
4位 $ETH 131 Tweets
5位 $ADA 51 Tweets
2019-01-10 03:00 ～ 2019-01-10 03:59
COINTREND いまTwitterで話題の仮想通貨を探せ！
https://cointrend.jp/ || ヌマちゃんが焼いた神戸牛が食べたいなぁ || Here is why #ethereum and #bitcoin will come back according to me.
@BTCTN @bitfinex @Bitcoin @RobertLe88 @rogerkver @EthereumNetw @ethereum @ethfinex @ethereum || #RT @Julez_Norton: How does a #Bitcoin Transaction work? {Infographic} #blockchain #fintech #BTC #CyberSecurity #DLT #innovation #cryptocurrency @julez_norton #infosec #disruption #Security #Crypto [via @CBinsights]pic.twitter.com/lcqzwYkb4D || 3118.4 Eur | -0.12% | Kraken | 21/01/19 21:26 #Bitcoin #Kraken #BTCEUR || New #cryptocurrency exchange by #Binance allows to trade in BTC/GBP, ETH/GBP, BTC/EUR, and ETH/EUR trading pairs.
https://ihodl.com/topnews/2019-01-16/binance-launches-fiat-crypto-exchange-europe/ … || LOVE!!KazakhstanWe hope to help, thank you.
/bitcoin 1896UwURka9J4MCbSdwfMc1pynArfWYXUf
/amazon.com Wish List http://www.amazon.com/gp/registry/wishlist/ref=nav_youraccount_wl?ie=UTF8&requiresSignIn=1 … || They don't have to be whales. If they can sell a Bitcoin or two in order to pay bills for another month, it's an option. Feed family today or buy a lambo in 5 years....
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Trend: up || Prices: 3413.77, 3399.47, 3666.78, 3671.20, 3690.19, 3648.43, 3653.53, 3632.07, 3616.88, 3620.81
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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 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:[email protected]
SOURCE:HashingSpace Corporation || Cable & Wireless Communications Scores With Exclusive Premier League Football Rights From Seasons 2016/17 to 2018/19: MIAMI, FL--(Marketwired - Oct 7, 2015) - Starting next season, the Premier League will have a new home in the Caribbean. Cable & Wireless Communications Plc (CWC) today announced that it has won the exclusive rights to broadcast live all 380 matches per season of the Premier League across 32 Caribbean countries from 2016/17 to 2018/19. Commencing in August 2016, the Premier League will be available on the Caribbean's newest sports network --Flow Sports.CWC was also awarded the mobile clip rights, allowing fans to follow the latest goals and action from the world's best football league on any mobile device.
The extensive coverage of live Premier League matches will form the centerpiece of Flow Sports' programming schedule. The network will be launched in November 2015, with content that includes coverage of international and regional football, cricket, rugby, tennis and athletics, as well as CWC's exclusive NFL and Rio 2016 Olympics coverage. Flow Sports will broadcast across the region from a new 4-K-ready, state-of-the-art facility in Trinidad, offering 24/7 sports coverage in HD.
Commenting on the exclusive rights award, John Reid, President of CWC's Consumer Division said: "We are thrilled to partner with the Premier League across the Caribbean. As the most popular league of the world's greatest sport, the Premier League will be at the heart of Flow Sports, the region's newest and largest sports network. We are excited as well to bring additional jobs, skills and investment into the Caribbean with our new Trinidad facility, truly showcasing the power of the new Cable & Wireless and our commitment to the region."
CWC's market research has shown that sports programming is a key decision driver for customers purchasing TV and broadband packages. Approximately 70% of customers identify as being 'sports fans,' with the Premier League dominating sports viewing in the Caribbean. Reid added: "As the region's leading quad play operator, we look forward to bringing Caribbean sports fans closer to the action with our innovations in mobile and online viewing. With our Flow ToGo application and access to mobile clips, fans won't miss any of the excitement that truly defines this tremendous sports asset. Flow Sports will be available in our basic subscription package, meaning more games for more fans, and instantly positioning Flow as the home of sports in the Caribbean."
Phil Bentley, Chief Executive of Cable & Wireless Communications said: "Following our merger with Columbus and our re-branding to Flow, the agreement with the Premier League is yet another example of the growing momentum building across the Caribbean, delivering significant additional revenue synergies through cross-selling and upselling, as well as improving customer loyalty. This is set to accelerate over the next few years."
Richard Scudamore, Chief Executive of the Premier League said: "We are very pleased that Cable & Wireless Communications has chosen to invest in Premier League broadcasting rights in the Caribbean.
"We look forward to welcoming them as a new partner and are sure they will do excellent job making the competition available to fans across the region."
About Cable & Wireless Communications:
Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers.
Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers.
The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity.
CWC has more than 7,000 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; TV 460k and Broadband 665k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes.
Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America.
For more information please visit:http://www.cwc.com
About the Premier League:
The Barclays Premier League is the most-watched, continuous, annual sporting event in the world. Last season 13.9 million fans attended matches with record average stadium occupancy of 95.9%. Across nine months of the year, 380 matches are viewed in 185 countries with coverage available in over 725 million households. || What to Expect from Overstock.com's (OSTK) Q3 Earnings?: Overstock.com Inc.OSTK is expected to report third-quarter 2015 results after the closing bell on Oct 22. Last quarter, the company posted a negative earnings surprise of 46.15%.
Let us see how things are shaping up for this announcement.
Factors to Consider
Overstock’s second-quarter 2015 earnings of 7 cents missed the Zacks Consensus Estimate by a significant margin while revenues of $398 million beat the consensus mark of $387 million.
Overstock, a Bitcoin supporter, hopes to reinvent the public stock market using cryptosecurities, or virtual stocks based on Bitcoin's blockchain technology. Bitcoin is a digital currency platform with no central regulating authority involved in the transactions. It is also called crypto currency because it utilizes military-grade cryptography to protect users against fraud. Bitcoin and other cryptocurencies operate on blockchain which is a distributed public ledger.
Cryptosecurities will likely bring the next major change in the stock market. With the SpeedRoute deal, Overstock will enter a new financial technology space. SpeedRoute’s infrastructure and underlying technologies will help the company to connect t0 securities trading platform with the entire U.S. equity market. This will enhance transparency and efficiency of the existing capital markets, which was the basic idea behind t0.com.
The blockchain technology allows investors and buyers to trail down their purchases and ownership of cryptosecurities, ensuring complete transparency. Moreover, the t0.com blockchain technology facilitates same-day settlement of the securities.
In June, Overstock offered its first corporate bond, worth US$25 million, as cryptosecurities to qualified institutional investors. This revolutionary development is part of the company's larger cryptofinance initiative known as Medici.
Stocks to Consider
Here are some companies, which you may consider as our model shows that they have the right combination of elements to post an earnings beat this quarter:
Here are some companies which you may consider instead, as our model shows they have the right combination of elements to post an earnings beat this quarter:
Pandora Media, Inc. P with an Earnings ESP of +50.00% and a Zacks Rank #1 (Strong Buy).
Anika Therapeutics Inc. ANIK, with an Earnings ESP of +2.94% and a Zacks Rank #1.
SkyWest Inc. SKYW, with an Earnings ESP of +4.55% and a Zacks Rank #1.
Want the latest recommendations from Zacks Investment Research? Today, you can download7 Best Stocks for the Next 30 Days.Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportSKYWEST INC (SKYW): Free Stock Analysis ReportPANDORA MEDIA (P): Free Stock Analysis ReportANIKA THERAPEUT (ANIK): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || 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 || Innovation ETFs: Real Deal Or Gimmick?: [This article previously appeared in our September 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 the iShares 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: the ARK Genomic Revolution Multi-Sector ETF (ARKG | D-36) , ARK Industrial Innovation ETF (ARKQ | D-44) , ARK Web x.0 ETF (ARKW|D-29) and ARK Innovation ETF (ARKK | D-32) . ARKK contains all three of the other ARK innovation funds. Meanwhile, the newly launched Gavekal Knowledge Leaders Developed World ETF (KLDW ) and the Gavekal 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 company and focused on energy storage. Yet at least one industry watcher said the name “innovation” is just growth with better marketing. Story continues 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’ Technology XT 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. Innovations Capture 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 the Technology 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 Spark Steven 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 the PowerShares 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 the SPDR 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, is not —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. Recommended stories Swedroe: Taxing The Yale Model ETF Options 101: 3 Ways To Go Long SPY Greg King Debuts New ETF Firm All Investors Are Long Volatility, But There’s Help Bitcoins In This ETF Not What It Seems Permalink | © Copyright "dat ETF.com. 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:[email protected]
SOURCE:MarilynJean Interactive || 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
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• Europol Highlights Bitcoin Use Among Criminals
© 2015 Benzinga.com. Benzinga does not provide investment advice. 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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• 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. || New Website Could Become The Playboy Of Pot: This week, the marijuana industry saw rapper Snoop Dogg announce a new marijuana lifestyle platform called Merry Jane. Snoop unveiled his intentions while joking about the marijuana culture and promising to feature smoking celebrities recounting their first pot experiences. While the site is likely to appeal to college students and even young adults who are a part of the marijuana culture that Snoop Dogg represents, it will do little to draw in thousands of other users like the elderly, working professionals and athletes. Civilized Pot Enter Civilized . On Tuesday, startup Saint Johns Revolution Strategy launched a new website called Civilized which targets marijuana's "high brow" users. The company's founder and publisher Derek Riedle said that the site's style is designed to appeal to the underserved pot market-- working professionals who aren't defined by marijuana usage, but enjoy its effects to relax or be creative. Related Link: Is Snoop Dogg's Marijuana Platform Good For The Industry? Transforming Pot Perceptions The site includes pertinent topics relating to marijuana, but also encompasses broader lifestyle topics. Riedle wants the site to attract people based on their other interests as well, so it will include topics that may appeal to business people, teachers and athletes who happen to smoke marijuana in their free time. While marijuana-related sites are a dime-a-dozen at the moment, Civilized is hoping to appeal to an undeserved part of the marijuana movement. Some have likened the company's mission to that of Playboy, saying it takes something considered taboo or indecent and normalizes it. Funding So far, Civilized has gained the backing of 14 angel investors and is expected to continue growing once the content is monetized. At the moment, the stories are free, but Riedle is planning to support the site through advertising in the future. See more from Benzinga Bank Of America Prepares For Bitcoin Revolution European Investments, Greek Bonds Beginning To Look More Attractive U.S. Firms Brace For EU Ruling That Could Change The Way They Do Business © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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)
[Random Sample of Social Media Buzz (last 60 days)]
1 #BTC (#Bitcoin) quotes:
$239.50/$239.66 #Bitstamp
$235.40/$236.00 #BTCe
⇢$-4.26/$-3.50
$239.69/$239.71 #Coinbase
⇢$0.03/$0.21 || 1 #bitcoin 681 TL, 225.223 $, 201.93 €, GBP, 14930.00 RUR, 28100 ¥, CNH, 300.85 CAD #btc || $229.00 #bitstamp;
$225.40 #btce;
Instantly buy GH/s with BTC: http://bit.ly/LN53k1
#bitcoin #btc || Current price: 202.78€ $BTCEUR $btc #bitcoin 2015-09-03 14:00:03 CEST || Current price: 150.71£ $BTCGBP $btc #bitcoin 2015-09-27 22:00:04 BST || [Bitcoin] Bitcoin and United States Dollar: 0.0100 BTC = 2.40 USD
1.00 USD = 0.0042 BTCConverter #YAF || Current price: 234.22€ $BTCEUR $btc #bitcoin 2015-10-20 14:00:16 CEST || I got a 1000 Reward from @crazyhits_ > http://faucetrank.com/faucet/[email protected] … #bitcoin #bitcoinnews #cryptocurrency #btc #bitnews #free 00.00 || $228.00 #bitstamp;
$224.00 #btce;
Instantly buy GH/s with BTC: http://bit.ly/LN53k1
#bitcoin #btc || 18:01
Bitstamp: 240.00 USD [bajista]
BTC: 3,724.80 ARS [+0.09% 24hs]
Dolar Blue: 15.52 ARS [cronista]
http://coinmonitor.info
|
Trend: up || Prices: 285.30, 293.79, 304.62, 313.86, 328.02, 314.17, 325.43, 361.19, 403.42, 411.56
|
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)]
Is Starbucks Stock a Buy Below $50?: Shares of Starbucks (NASDAQ: SBUX) fell below the $50 mark on Wednesday afternoon, heading even lower on Thursday morning after announcing that its CFO was leaving the company. If you can't recall the last time Starbucks traded this low, you're not alone. You have to go back three summers -- to August 2015 -- to find the last time the stock traded lower. There are plenty of reasons for Starbucks falling out of favor with investors, but it all boils down to slowing growth prompting concerns about the concept's near-term popularity. The barista baron has disappointed the market with back-to-back quarters of 2% growth in global comps, but last week it warned that comparable-store sales will rise a mere 1% in its fiscal third quarter. The chain is underperforming its long-term goal of 3% to 5% growth in comps as well as the 3% forecast for the current quarter that it was targeting two months ago. Starbucks blames sluggish sales of its signature Frappuccino beverages on health and wellness trends. Analysts blame cutthroat competition. With Starbucks stock now at its lowest level in nearly three years, the real question for investors is if the chain is in a long-term slump or if this is a great buying opportunity. A Starbucks on a Royal Caribbean cruise ship. Image source: Starbucks. Filling up the cup Starbucks can't seem to catch a break. A few analysts slashed their price targets on the stock last week. Andy Barish at Jefferies argues that Starbucks hosing down its guidance suggests that the days of the chain as a reliable growth darling may be over. He remains bullish based on the current valuation, but he feels that Starbucks is transitioning into a choppier growth investment. Sara Senatore at Bernstein feels that growth is slowing as consumers realize that Starbucks is charging more for brewed coffee -- roughly 38% more -- than its quick-service competitors. With coffee commodity prices near historical lows, it won't give Starbucks much in pricing leverage when bean prices inevitably head higher. Story continues Even boosting its dividend by 20% last week was met with notable resistance. Moody's would go on to downgrade the chain's senior unsecured ratings in light of Starbucks beefing up its efforts to return more money to its stakeholders. The credit-rating agency would go on to stick with its earlier rating on Starbucks' short-term commercial paper, but Moody's outlook is negative. Then we get to the mighty Frappuccino. Starbucks revealed last week that sales of the frosty beverages have declined 3% so far this fiscal year. It points to consumer concerns about the high sugar and calories in the drinks. Starbucks says it's an industry issue, but it can't help that burger joints and doughnut shops have been blending up ice and coffee at much lower price points than Starbucks in recent years. Starbucks isn't letting pride get in the way of its operational hiccups. It stunned investors last week in announcing that it's ramping up the number of annual store closures . It's not a good look -- just like seeing its CFO step down -- but the valuation is perhaps too tempting to pass up here. The stock has obviously lagged the market over the past three years, but it's still growing on both ends of its income statement. Thursday's decline is pushing the stock to trade below 20 times this fiscal year's projected profit. When's the last time that Starbucks was trading at a P/E in the high teens? The cascading shares and rising dividend now find its yield at a hearty 2.5%. The shareholder baton is shifting from the hands of growth investors to those seeking income, value, and turnaround situations. This may not be a bad thing in light of its slump. Starbucks drinks may not be cheap, but it's stock is at the moment. 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 Rick Munarriz has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Starbucks. The Motley Fool has a disclosure policy . || Dead Cat Bounce? Bitcoin Charts Show This Rally Could Be Different: Bitcoin is building on Friday's sharp recovery from lows below $5,800, indicating the corrective rally has more substance than what many presumed to be another "dead cat bounce."
Overall, the premier cryptocurrency jumped to $6,661.76 at 13:00 UTC, a 6.37 percent increase from the day's low of $6,262.28, and was last seen trading at $6,613, according to the CoinDesk Bitcoin Price Index (BPI).
The broader market followed suit, as it usually does when bitcoin (BTC) flexes its muscles. Currently, the total value of all cryptocurrencies stands at $270 billion, having jumped $14 billion in the in the morning hours, according to CoinMarketCap.
For Litecoin's Price, This Week's Close Could Be Pivotal
Looking ahead, the broader market may remain solidly bid as the world's largest cryptocurrency by market capitalization looks set to test the $7,000 mark, courtesy of a bullish continuation price pattern, as seen in the charts below.
Having faced rejection at flag resistance in Asian hours, the cryptocurrency was expected to revisit flag support. However, BTC unexpectedly picked up a bid at $6,275, setting stage for a big move on the higher side.
The subsequent bull flag breakout, as seen in the chart above, signaled a resumption of the rally from Friday's low below $5,800, temporarily silencing the "dead cat" critics. Price action now sets scope to $7,065 (target as per the measured height method, i.e. pole height added to breakout price).
Self-Proclaimed Satoshi Says Bitcoin Book in the Works
What's more, the bullish breakout is accompanied by a rise in volume. So, the gains look sustainable.
BTC cleared the falling wedge resistance on Friday, signaling a short-term bear-to-bull trend change.
Further, a bullish follow-through to Sunday's inside bar, as seen today, only validates Friday's falling wedge breakout and indicates better times ahead for BTC.
• The high volume bull flag breakout seen in the hourly chart has likely put bitcoin on the path to $7,000, proving Friday's rally to be the beginning of something more substantial than initially thought.
• Acceptance below $6,275 (weekly low) would abort the short-term bullish view.
Bitcoin price imagevia Shutterstock
• Back Above $6K: Bitcoin's Bull Reversal Is a Work in Progress
• Crypto Startups Don't Need Sandboxes, They Need Greenhouses || 3 Reasons TJX Companies Stock Could Rise: People love to find a good deal, whether they're shopping online or at a physical store. And that simple but powerful motivation helps explain howTJX Companies(NYSE: TJX)has managed an impressive streak of unbroken sales and profit growth in the last decade.
The off-price retailer is succeeding today despite big challenges impacting the broader retailing industry. Yet investors might not be fully accounting for its healthy business trends. Below, we'll look at a few ways that these metrics might send the stock higher in the coming quarters.
Image source: Getty Images.
Here's how CEO Ernie Herrman recently summed up the retailer's key competitive advantage ina conference call with investors: "The depth and breadth of our off-price knowledge in the U.S. and internationally is unmatched and extremely difficult to replicate."
There's plenty of data to back up that boast. After all, TJX Companies just marked its 15th straight quarter of rising customer traffic. And its 3% increase in comparable-store sales, or sales at existing locations, kept it on pace to achieve its 23rd consecutive year of growth in 2018.
TJX Companies tends to hold up well during times of market disruption like these, and that's another reason to believe it can keep capturing market share from rivals. When full-price retailers focus on reducing their sales footprints, there are more opportunities for merchandise buyers to step in and secure deals.
Meanwhile, TJX Companies is flexible about the products it can offer across its apparel and home furnishings stores. And its huge revenue base, which recently passed $35 billion of annual sales compared to $14 billion forRoss Stores, amplifies that scale advantage.
TJX has more than 4,100 stores, with 71 added in the first quarter. And even as many peers -- especially in the full-price department store segment -- are closing locations, TJX Companies sees a long runway for growth ahead.
Its appeal to young shoppers, flexible store format, and quickly changing product assortments are a few of the reasons that management thinks there is stability in the market for its mix of name brands at compelling discounts. That's why, over the long term, TJX Companies expects to operate over 6,000 stores across its four divisions of TJ Maxx, HomeGoods, TJX Canada, and TJX International, up from 4,100 shops today.
Like most of its peers, TJX Companies' profits are being hurt by rising costs in two key areas: labor and investments into the digital sales channel. However, the company's strong cash flow, which has been at least $3 billion in each of the last three fiscal years, provides ample room to fund these investments without threatening the company's dividend or share buybacks. That dividend recently jumped 25% and has been raised in each of the last 22 consecutive fiscal years. With just three more increases, TJX Companies willqualify for membershipin the exclusive Dividend Aristocrat club.
The retailer keeps very little debt on its books, and this strong capital position allows TJX Companies to make opportunistic inventory purchases while supporting healthy cash returns to shareholders. That financial outlook is even brighter thanks to the cash flow benefits set to come from recent tax law changes.
In fact, the retailer is planning to roughly double its share buyback spending to as much as $3 billion this year. Those purchases should lift per-share earnings by reducing the outstanding share count. They might contribute to a rising share price, too -- especially if the business extends its long streak of market-beating sales growth into 2019 and beyond.
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Demitrios Kalogeropouloshas 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. || ETFs Slip as Federal Reserve Hikes Interest Rate: This article was originally published on ETFTrends.com. Stock and bond ETFs slipped on Wednesday as the Federal Reserve announced another moderate rate hike and stated its intent to raise rates two more times later this year. Following the Fed's announcement mid-Wednesday to raise interest rates 25 basis points, effectively raising the federal funds rate from 1.75% to 2%, the iShares 7-10 Year Treasury Bond ETF ( IEF ) dipped 0.2% and the iShares 20+ Year Treasury Bond ETF ( TLT ) fell 0.3%, which wasn't a surprise as older debt with lower yields become less attractive in a higher rate environment. The Invesco DB U.S. Dollar Index Bullish Fund (NYSEArca: UUP) , which tracks dollar movements against a basket of developed currencies, strengthened 0.2% in response to the tightening monetary policy. Meanwhile, the U.S. equity market slipped into the red, with the SPDR S&P 500 ETF ( SPY ) down 0.2%, on the prospects of slower growth with a higher rate environment ahead. Four Rate Hikes for 2018 The Federal Reserve announced its second rate hike this year and upgraded their forecast to four total increases in 2018 as unemployment dips to 18-year lows and inflation rises above its target, reports Craig Torres for Bloomberg. The committee expects that further gradual increases in the target range for the federal funds rate will be consistent with sustained expansion of economic activity, strong labor market conditions, and inflation near the committees symmetric 2 percent objective over the medium term, according to its statement following a meeting in Washington. The Fed said the economy is growing at "solid" pace and risks remain "roughly balanced." The language modification indicated that Fed officials are becoming increasingly confident in the state of the U.S. economic strength. Additionally, risks to the economic outlook were considered "roughly balanced," which mirrors how it painted economic risks in previous statements. The language also shows the Fed holds a good view of the U.S. economy and indicates officials anticipate stronger growth in line with the risk of seeing potentially weaker growth. Story continues Economic activity has been rising at a solid rate, the FOMC said in its statement. Recent data suggest that growth of household spending has picked up, while business fixed investment has continued to grow strongly. For more information on the markets, visit our current affairs category . POPULAR ARTICLES FROM ETFTRENDS.COM How to Bet on Upside for Hot Tech ETFs Tom Lydon Featured on Capital Allocators With Ted Seides Podcast Bitcoin: More Speculators, Fewer Investors 5 Ways to Improve Your Financial Decisions 6 Hacks to Automate Your Financial Life READ MORE AT ETFTRENDS.COM > || How Warren Buffett Decides If He’s Interested in a Business: Over the past few years,Berkshire Hathaway(NYSE: BRK-A)(NYSE: BRK-B)has accumulated quite a bit of cash on its balance sheet. At the end of the first quarter of 2018, Berkshire reported a total of$108.6 billionin cash -- far more than the $30 billion CEO Warren Buffett recently said he would prefer.
This leaves almost $80 billion in excess capital, and Buffett has said that he's having a tough time finding companies to acquire, which is by far his preferred way to use Berkshire's money. This raises the question, "What is Warren Buffett looking for?" While some of Berkshire's acquisition-evaluation process is a trade secret, we do have a pretty good idea of how Buffett determines what businesses he's interested in.
Image source: The Motley Fool.
In Berkshire Hathaway's 2017 annual report, there's a list of six basic criteria that the company looks for in potential acquisition targets. And they need to meet all six.
1. It must be a large business, which Berkshire defines as at least $75 million in pre-tax earnings. The exception is if the company will fit into one of Berkshire's existing businesses. In other words, Berkshire could consider a small insurance operation if it fits nicely into one of its existinginsurance businesses.
2. The company's earning power must be consistent. Berkshire doesn't care about a company's future projections -- the past must be impressive.
3. Good returns on equity with little or no debt. Buffett hates excessive debt and insists that Berkshire have billions of dollars in positive net cash at all times, so it makes sense that he wouldn't want to acquire a business that reduced the company's net cash position.
4. A management team must be in place. It's tough to emphasize how highly Buffett values good management. Berkshire loves acquiring companies that are already being run by great managers and bringing those managers along with the acquisition.
5. A simple business. Buffett wants to be able to clearly understand the businesses he owns. If you look at Berkshire's subsidiaries and its stock holdings, you can easily sum up what most of them do in a sentence. Even the most high-tech companies have fairly straightforward businesses.
6. An offering price. Buffett doesn't want to negotiate or entertain an acquisition opportunity if he doesn't know how much the business owners want for their company.
The annual report goes on to say that the larger the company is, the greater Berkshire's interest will be, mentioning a target acquisition range of $5 billion to $20 billion. Berkshire has become a massive company with a market cap of nearly $500 billion, and small acquisitions just don't do much to move the needle.
One thing that may surprise shareholders is that Buffett doesn't do very much research to determine whether he's interested in a particular acquisition or not. In fact, Buffett says that it takes a very brief time for Berkshire's management to determine whether it has any interest in pursuing an opportunity.
As Buffett said at Berkshire's 1997 annual meeting, "We really can tell you in five minutes whether we're interested in something."
Buffett went on to say that he and Vice Chairman Charlie Munger are generally familiar with every American company that is large enough to meet its acquisition criteria, so it comes down to running each business through a few basic filters. While Buffett obviously doesn't reveal his entire investment decision process, some of these filters are undoubtedly the acquisition criteria listed in the previous section.
Most of all, Buffett looks at the economic fundamentals of the business. Speaking about Berkshire's 1996 acquisition of aviation training company FlightSafety, Buffett said that "before the purchase, and even for some time after ... I had never set foot on [one of their training centers], never been to their headquarters, we never looked at a lease ..."
This may be surprising considering Buffett had committed to spend $1.5 billion (which at the time was in Berkshire's acceptable size range), but that's just not part of Buffett's process. As he puts it:
We don't do all of those things, and to date that's never cost us a penny. What costs us money is when we mis-assess the fundamental economic characteristics of the business, but that is something we would not learn by doing what people would generally call due diligence ... That isn't what makes a deal a good deal or bad deal.
In other words, Buffett doesn't necessarily care about the underlying details of a business when deciding if he's interested. He just cares about whether it's a good business economically, and if Berkshire is getting a fair price.
After hearing that, you may think that there could be hundreds of potential acquisition targets Berkshire could pursue. And as far as the six criteria are concerned, you'd be right.
The major roadblock in recent years has been therequirement of a "fair price."The stock market has gone up dramatically over the past few years, and the surge in private equity interest has pushed business valuations up to nosebleed levels. And Buffett has simply not been able to find any business whose price was compelling enough to pursue.
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Matthew Frankelowns shares of Berkshire Hathaway (B shares). The Motley Fool owns shares of and recommends Berkshire Hathaway (B shares). The Motley Fool has adisclosure policy. || USD/JPY Fundamental Daily Forecast – Yen Boosted by Flight-to-Safety Buying Over Italy Woes: The Dollar/Yen spiked higher early Monday on hopes a U.S.-North Korean summit was back on track, but the low volume because of the U.S. bank holiday, likely limited gains. The USD/JPY settled on Monday at 109.418, up 0.033 or +0.03%. Daily USD/JPY More North Korean Sanctions in the Works? While U.S. and North Korean delegates scrambled to put the meeting back on track, The Wall Street Journal reported on Monday that the U.S. is prepared to unveil tough new sanctions on North Korea as soon as Tuesday, but could hold off as the countries try to revive the meeting, tentatively scheduled for June 12. The Wall Street Journal, citing two administration officials, said the Treasury Department had assembled sanctions that would take aim at about three-dozen targets, including Russian and Chinese entities. Political Turmoil Driving Safe Haven Demand The Dollar/Yen is trading lower early Tuesday. Traders are likely reacting to the political turmoil in Italy and concerns over North Korea. At 0229 GMT, the USD/JPY is at 108.995, down 0.423 or -0.39%. Short-term interest rates in Italy are soaring and the bond market is on the brink of massive liquidation according to some experts. Investors are also taking a grim view of Italy seemingly heading towards another election. According to CNBC, Italian bond have witnessed one of their worst trading weeks since the Euro Zone sovereign debt crisis, with many traders getting a stark reminder of the volatility that once characterized markets in the region. On Friday, two-year Italian bond yields rose 35 basis points in one-day – almost equivalent to the entire range of the year for U.S. 10-year Treasurys. This was the weakest session in five years and continued a month that’s seen these yields rise 70 basis points in total. The spike in yields has investors concerned enough to seek safety in the Japanese Yen. Investors are concerned about lending to Italy’s government. Investors could continue to move money into the Yen especially since foreign investors own about 37 percent of the outstanding Italian bonds. Story continues The USD/JPY could drop even further this week if the rating services decide to downgrade Italian bonds. This article was originally posted on FX Empire More From FXEMPIRE: European Politics Slams the EUR, with Trump to Drive the USD Bitcoin Cash, Litecoin and Ripple Daily Analysis – 29/05/18 Dow Jones 30 and NASDAQ 100 CFD markets quiet during holiday Ethereum falls again on Monday Alt coins fall yet again on Monday DAX continues to chop around during Monday session || 3 Energy Mergers That Need to Happen: There have been several notable deals in the energy midstream sector this year. In February,NuStar Energyagreedto buy its parent,NuStar Energy Holdings. Not more than a month later,Tallgrass Energysealed a dealto buyTallgrass Energy Partners. Meanwhile, last month, there was awave of mergers in the sectorasWilliams Companies(NYSE: WMB)agreed to acquireWilliams Partners, while bothCheniere EnergyandEnbridge(NYSE: ENB)offered to buy out their publicly traded affiliates. Those deals make it increasingly likely that the rest of the industry will fall in line by announcing similar deals where affiliated midstream companies combine into one single entity. Here are three deals that should happen next.
On the company'sfirst-quarter conference call, the management team ofEnergy Transfer Equity(NYSE: ETE)andEnergy Transfer Partners(NYSE: ETP)let investors know they're working on a transaction to simplify their corporate structure. CEO Kelcy Warren stated that the deal would "most certainly be a structure whereby ETE acquires ETP." That's because they've "looked at every scenario possible to us," according to Warren and "don't see any mathematical scenario that makes any sense other than that one."
Image source: Getty Images.
Those comments make it abundantly clear that Energy Transfer Equity plans to announce a simplification transaction sooner rather than later. The holdup is that the combined company needs to get its leverage ratio down so that it receives an investment-grade credit rating. That should happen naturally over the next few quarters as the $10 billion of expansion projects Energy Transfer Partners has under construction start generating earnings, which would boost that side of the leverage equation. Once the companies get the all-clear from credit rating agencies that they're safely within investment-grade territory, they'll likely announce this deal.
For years, Canadian pipeline giantTransCanada(NYSE: TRP)has used itsmaster limited partnership(MLP)TC Pipelines(NYSE: TCP)as a source of capital by dropping down assets to that entity in exchange for cash. However, a regulatorypolicy change earlier in the yearhit TC Pipelines hard, which caused the MLP toslash its distribution to investors. These changes have weighed heavily on the MLP's valuation and access to capital. Because of that,TransCanada no longer believesit can use TC Pipelines as a viable funding option.
That leaves TransCanada with only one alternative: Join fellow Canadian pipeline giant Enbridge in buying out its MLP. That would not only reverse the impact of the policy change on the cash flows of the pipelines owned by the MLP, but simplify TransCanada's corporate structure. While TransCanada might wait for the dust to settle on Enbridge's consolidation before announcing a deal for its MLP, it seems like only a matter of time before the company makes this move.
Two years ago,Plains All American Pipeline(NYSE: PAA)andPlains GP Holdings(NYSE: PAGP)took a step to simplify their corporate structure by eliminating the costlyincentive distribution rights(IDRs) that Plains All American paid to Plains GP. In exchange, Plains GP acquired a 34.8% stake in the MLP. While that deal was certainly a step in the right direction, the companies could eventually take the next logical progression by combining into one entity.
That's the path bothWilliams Companiesand Enbridge have taken over the past year. The pipeline giants initially eliminated the IDRs paid by their MLPs in exchange for a larger stake in those entities before making offers this year to combine into a single company. It's a blueprint that makes sense for Plains to follow, because it would have similar benefits by reducing the combined company's cost of capital, which would make it cheaper to secure funding to finance future expansion projects. While Plains hasn't hinted that it's considering this move, the company still might announce it by early next year, which is when Plains expects to achieve its leverage target and announce plans for distribution growth going forward.
The reason so many midstream companies are combining is that these deals will make them stronger by reducing costs and increasing their access to capital, which should enable them to make more money for investors in the coming years. That's why we'll likely see more deals announced in the coming months as additional companies realize the benefits of simplifying. As those deals happen, it should make the midstream sector a better place for investors.
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Matthew DiLalloowns shares of Enbridge. The Motley Fool owns shares of Enbridge. The Motley Fool has adisclosure policy. || FireEye Stock Upgraded: What You Need to Know: Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope... Stock market analysts like to say that the " market is forward-looking ," and that what a stock has done in the past isn't always as important as what it's going to do in the future. Investors in FireEye (NASDAQ: FEYE) had better hope they're right about that. Since its IPO in 2013 , FireEye has taken investors on a wild ride, more than doubling in the six months after going public, only to plunge below its IPO price three months later. At a recent share price below $16, this internet security specialist still trades 20% below its $20 IPO price of three years ago, a fact due in no small part to the company's failure to ever earn a GAAP profit -- or generate a full year's worth of positive free cash flow. But Piper Jaffray thinks all this is about to change. Hooded figure typing on laptop Image source: Getty Images. Upgrading FireEye stock Piper Jaffray believes that after five long years of booking little but losses, FireEye stock is poised to deliver "positive operating income and free cash flow starting in 3Q18." FireEye specializes in cyberattacks -- more specifically, in preventing them when possible, detecting them when not, and then proceeding to "remediate" the damage. This should be a good business to be in, here in our era of cyberhacking and internet espionage. However, FireEye's sales growth stalled out last year, rising just 5% in comparison to 2016 numbers -- a big letdown from the 15% sales growth enjoyed in 2016, and the 46% growth achieved in 2015. Last quarter, however, CEO Kevin Mandia advised investors that in an effort to restart growth, FireEye is updating the "pricing and packaging" of the services it offers. According to Piper Jaffray, these efforts are bearing fruit. "Our channel contacts noted that the new pricing bundles are having a positive impact on overall demand trends," explains the analyst in a note covered on StreetInsider.com (subscription required). Story continues Things are going so well, in fact, that Piper Jaffray decided to upgrade FireEye stock to overweight and assigned it a new $20 price target. Bargain shopping on the internet Can FireEye reach this goal that Piper Jaffray has set for it? One reason the analyst is optimistic is because, as Piper explains in its note, FireEye shares trade "well below the peer group average (3.2x EV/CY19E Sales vs 4.7x for the peer group)," and thus have room to grow. You'll notice that in making its comparisons, however, Piper Jaffray bases its estimations on FireEye's sales, not its profits. This is because FireEye doesn't actually have any profits on which to value its stock. (Rather, it's racked up losses of nearly $1.9 billion over the past five years, according to data from S&P Global Market Intelligence .) Because Piper Jaffray is itself forward-looking, though, it's recommending FireEye stock based on how well the company might perform in the future. So how does that future look? Gazing into the crystal ball S&P Global has the answers for us here. According to its survey of Wall Street analysts, precious few of them expect to see FireEye turn GAAP-profitable anytime soon. Pro forma profits, on the other hand, could arrive as early as this year. (The consensus is for FireEye to earn $0.02 per share before accounting for one-time items in 2018.) Personally, I don't give a lot of weight to pro forma numbers -- but the news on the free cash flow front is just as encouraging. According to the consensus of analysts who track FireEye, the stock is likely to produce positive cash profits of $18 million this year, nearly triple that cash haul (to $53 million) in 2019, and more than double it again in 2020 (to $122 million). It will take another two years to double FCF again -- $253 million is anticipated in 2022. FireEye stock today is trading for about 12 times that final estimate for FCF production. Given that $253 million would represent 30% annual earnings growth in 2022, you might think that's an attractive price. (Piper Jaffray certainly seems to.) The problem, of course, is we're talking about hypothetical free cash flow four years out, and that FCF may or may not appear as promised -- and if you ask me, four years is a bit too far out to be investing with any confidence that the future will shape up as planned. Meanwhile, in the here and now, FireEye is still growing sales only in the double-digit range and earning no profits on those sales. In the final analysis, therefore, although I understand Piper Jaffray's bull argument in favor of FireEye, I just can't recommend the stock until the company has proven itself capable of earning the profits and generating the cash that Piper Jaffray thinks it can. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Rich Smith has no position in any of the stocks mentioned. The Motley Fool recommends FireEye. The Motley Fool has a disclosure policy . || Bitcoin is slipping after a study found signs its 2017 bull run was driven by market manipulation: Markets Insider
• Bitcoin fell 2% on Wednesday after a new academic paper concluded that bitcoin's price run to December may have been driven by manipulation.
• The University of Texas at Austin paper says the exchange Bitfinex may have used Tether, a cryptocurrency it is closely linked to, to support the price.
• Bitfinex's CEO told Business Insider: "Bitfinex nor Tether is, or has ever, engaged in any sort of market or price manipulation. Tether issuances cannot be used to prop up the price of bitcoin or any other coin/token on Bitfinex."
The price of bitcoin fell against the dollar on Wednesday after an academic paper found signs the cryptocurrency's 2017 bull run was caused by market manipulation at a major exchange — allegations denied by the CEO.
Academics at the University of Texas at Austin on Wednesdaypublished a paper analyzing whether the cryptocurrency Tether "influences Bitcoin and other cryptocurrency prices during the recent boom."
The academics concluded that the price patterns were "most consistent with the supply-based hypothesis where Tether is used to provide price support and manipulate cryptocurrency prices."
Tether is a cryptocurrency supposedly backed by the US dollar one-for-one, offering the stability of the currency but the flexibility and functionality of cryptocurrency. The cryptocurrency was created by many of the same people behind the leading cryptocurrency exchange Bitfinex. (You can read a full explanation of Tether here.)
Bitfinex CEO JL van der Velde said in an emailed statement: "Bitfinex nor Tether is, or has ever, engaged in any sort of market or price manipulation. Tether issuances cannot be used to prop up the price of Bitcoin or any other coin/token on Bitfinex."
Bitcoin rallied over 1,000% against the dollar last year, peaking at over $20,000 in December. It has since collapsed to below $7,000.
The University of Texas paper looked at the relationship between Tether and the price of bitcoin from March 2016 to March of this year, but it focused specifically on the year to March 2018. The academics concluded "Tether seems to be used both to stabilize and manipulate Bitcoin prices," with new Tether coins seemingly created and used to buy up bitcoin at times of low demand.
The prominent skeptic Bitfinex'd, an anonymous Twitter user, haslong argued that Tether has been used to manipulate the price of bitcoinby propping up demand. Bitfinex has denied this.
The New York Times first reported the paperand said the study was a strong indication of possible manipulation and would require further investigation.
Bitcoin fell 2% against the dollarshortly after the New York Times piece was published. The price has rallied slightly since then, and bitcoin was down 1.5% against the dollar as of 11:25 a.m. BST (6:25 a.m. ET).
The US Commodities and Futures Trading Commissionissued subpoenas to Bitfinex and Tether last December, according to Bloomberg.
Last month the US Justice Departmentreportedly began investigating bitcoin price manipulation, focusing specifically on spoofing — the practice of placing fake orders to drive up or down a price — and wash trading — the practice of trading with yourself to simulate volume in a market.
The professor John Griffin and his graduate student Amin Shams concluded in their paper: "Our findings suggest that market surveillance within a proper regulatory framework may be needed for cryptocurrency markets to be legitimate stores of value and a reliable medium for fair financial transactions. Additional research is necessary to further understand these markets."
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See Also:
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• A small startup is developing a tool to make money from 'insane' cryptocurrency spreads — and hedge funds are interested
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SEE ALSO:Everything you need to know about Tether, the cryptocurrency that people worry could crash bitcoin and that regulators are investigating
DON'T MISS:The Justice Department is investigating crypto market manipulation — here's why it's such a big problem || 4 Things It Doesn't Always Pay to Save Money On: We all want tosave money, and often, that boils down to being frugal with the things we buy. But while it pays to cut corners in certain areas of your life, there are some expenses that are actually worth paying a premium for. Here are a few instances where being cheap might actually cost you in the long run.
Health insurance can be a budget-busting expense, but buying a low-cost plan isn't necessarily the ticket to saving money. Quite the contrary:Premiumsanddeductiblestend to have an inverse relationship so that the less you spend on the former, the more you inevitably wind up spending on the latter. And that, in turn, could end up costing you more money over the course of a given year.
Image source: Getty Images.
Another thing to keep in mind is that costlier health insurance often translates into better coverage, which can save you money on copays and other out-of-pocket expenses. So before you opt for the plan with the lowest premium, shop around and see what different price points buy you.
When you're dealing with a basic home repair, it almost always makes sense to do it yourself rather than pay the big bucks for a contractor. But when it comes to complicated repairs, you're generally better off hiring professionals than saving a few bucks by going the DIY route. That's because the more complex the repair, the more likely you are to botch it and create an even bigger issue in the process.
And then there's your health and safety to consider. If the work in question results in an injury, you could end up on the hook for major medical bills. That's precisely what happened to us a few years back, when my husband took it upon himself to install a garage door opener in an attempt to save $100 by not using a contractor. Long story short, he wound up with a massive head wound and a $200 ER bill -- hardly worth it. The moral of the story is to think long and hard before tackling a home project or repair yourself, because if you don'treallyknow what you're doing, chances are, it'll be a costly mistake.
Buying aused carover a new one often makes sense, since vehicles lose value the second they're driven out of the lot. But buying the cheapest used car you can find could mean facing a host of costly repairs and poor gas mileage to boot.
For example, say you buy a used car for the affordable price of $5,000, only to get stuck with another $5,000 in repairs your first year in. It can happen, so if you're going to buy used, go with a certified model. These vehicles generally come with warranties that offer a degree of protection from unexpected immediate repairs, and while you'll pay a little more than you would for a non-certified used car, the benefits will often outweigh the costs.
Home appliances can be expensive, so when one of yours breaks, it's natural to want to replace it as cost-effectively as possible. But buying used is a move that could come back to bite you. Because most (though not all) big-name retailers don't sell used appliances, buying secondhand usually means going through small shops or private sellers who don't stand behind them. And if those items break the second you bring them home, you're out of luck.
Most home appliances are a long-term investment. You might buy a new washer, for instance, that lasts you a decade or longer. So rather than spend $300 on a used model that might cost you $500 in repairs over your first few years, spring for a new $700 model that comes with a multi-year warranty. Many large retails offer interest-free or low-interest payments plans for major appliances, so even if you can't afford to buy one outright, you'll generally have the option to pay it off over time if your credit is decent.
Tempting as it may be to save money as often as possible, there are certain areas where it pays to spend a bit more for peace of mind. Remember, you can always cut back on leisure or restaurant meals if you're looking to boost your savings, but don't be so quick to skimp on life's major necessities when you have the means of paying for them.
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• 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 adisclosure policy.
[Random Sample of Social Media Buzz (last 60 days)]
Block 532216
Hash: 0x...0dc9bd450da16da025ece5bf22879a4596a755a725b17c
Size: 0.07MB
Txs: 155
SegWit spends: 45%
327 in → 328 out
Out/In Ratio: 1.00
Out Value: $1,594,542 | 244 btc
Fees
Total: $47 | 0.01 btc
Highest: $4.90
Median: $0.11
Lowest: $0.02 pic.twitter.com/n6G6FU5gXK || Maxcoin Price
Price:
USD: 0.0837675
BTC: 0.00001098
RUB: 5.2018517829
CNY: 0.5368919967
http://MaxcoinProject.org
Rank: 634 || Ha! There you have it folks. From both a financial and medical perspective, trading bitcoin—especially for retirees—is a really bad idea. Thanks for the laugh @JasonMizell1 || 1 BTC = 29189.89999000 BRL em 03/06/2018 ás 04:00:07. #bitcoin #bitcoinbr #bitcoinexchangebr || Accepting bitcoin donations 12QYGifyiR83V99XkcbcBxo8WQEALPTXE5 || 1 BTC Price: Bitstamp 6388.70 USD Coinbase 6381.00 USD #btc #bitcoin 2018-06-30 05:30 pic.twitter.com/q7A20Qp5jT || 2018/06/21 08:00
#Binance 格安コイン
1位 #BCN 0.00000055 BTC(0.41円)
2位 #SC 0.00000188 BTC(1.4円)
3位 #NCASH 0.00000226 BTC(1.68円)
4位 #POE 0.00000256 BTC(1.91円)
5位 #STORM 0.00000332 BTC(2.47円)
#仮想通貨 #アルトコイン #草コイン || #LIZUN #LIMBO price
07-16 00:01(GMT)
$LIZUN
BTC:0.00003824
ETH:0.00040526
DOGE:101.0
USD:0.2
RUR:15.0
JPY(btc):27.3
JPY(eth):20.4
JPY(doge):26.6
$LIMBO
BTC :0.850
ETH :10.01
USD :5410.0
RUR :335000.0
JPY(btc) :606075.5
JPY(eth) :504604.1 || You are aware of ads with bitcoin mining software in them, right? Seems that such garbage is seeping into games. Alongside invasive anti-cheating stuff >.> || #workoutPartney How do I make bitcoin money? http://bit.ly/2Edv3C2 pic.twitter.com/fNU6acMRoX
|
Trend: down || Prices: 7711.11, 8424.27, 8181.39, 7951.58, 8165.01, 8192.15, 8218.46, 8180.48, 7780.44, 7624.91
|
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 2017-09-28]
BTC Price: 4174.73, BTC RSI: 55.15
Gold Price: 1285.50, Gold RSI: 41.55
Oil Price: 51.56, Oil RSI: 63.05
[Random Sample of News (last 60 days)]
Bitcoin price falls again on reports that China is shutting down local exchanges: China's clampdown on cryptocurrencies has reportedly taken a new direction to close down local bitcoin exchanges. Initial reports from Chinese media that the government plans to close down domestic cryptocurrency exchanges have seen the virtual coin shed more than $100 since Friday. Bloomberg and the Wall Street Journal also reported Monday that that the country is planning to shut down digital currency exchanges. Bitcoin sunk to a low of $4,241 in late trading in the U.K. Friday, and reached a low of $4,108 on Monday, according to Coindesk data . It climbed to a record high of $5,000 dollars a little over a week ago, and has shot up by nearly 350 percent since the start of the year. The latest reported crackdown follows a decision by Chinese regulators including the People's Bank of China (PBOC) to ban initial coin offerings (ICOs). ICOs are a means of raising funds by selling off new digital tokens. A crackdown on ICOs would not affect the original cryptocurrency directly, but bitcoin still dropped more than $1,000 over a period of three days . China's latest move to shut down local exchanges would mark a new direction for the country in its efforts to regulate the market.More regulation could follow An analyst told CNBC last week that China could be just one of many countries lining up to put increasing regulatory pressure on the $150 billion cryptocurrency market. "The Chinese market has been perhaps the most virulently exuberant in terms of its irrational excesses and across the world regulators are looking to gradually turn up the regulatory heat on this ICO phenomenon," Charles Hayter, CEO and founder of digital currency comparison website Crypto Compare, told CNBC via email last Tuesday.Experts also claimed the move could bring some much needed law and order to the market, by toughening up on fraud and scams. 'Nothing is ever certain'Crypto Compare's Hayter said Monday that "nothing is ever certain" when it comes to China's rhetoric on virtual cash."With China nothing is ever certain and a lot is left to be desired in terms of translation and interpretation. Rumors are that the Chinese are looking to ban bitcoin again and ring-fence their fiat yuan from the crypto world. The fears of capital outflows as well as money laundering are causing the Chinese state to ratchet the rhetoric," he said via email.He added that the latest move wouldn't affect the market too deeply, as China "isn't that important"."The recent moves against ICOs rocked the market but have left it relatively unscathed. Examples will doubtless be made the question is who and when. The crypto markets realized earlier in the year that China isn't that important as it only accounts for less than 20 percent of volumes Japan, the US and Korea to an extent are more than enough to sustain healthy volumes. Uncertainty for the time being in China whilst for the rest of the world its business as usual."'China needs to tread carefully'Chamath Palihapitiya, venture capitalist and owner of the Golden State Warriors, took to Twitter Monday to voice his own thoughts on China's cryptocurrency crackdown. The former Facebook employee warned China to "tread carefully" in dealing with bitcoin's meteoric rise. TweetThe virtual currency operates on a peer-to-peer network, allowing traders to send transactions or payments without the need for a central authority.In May, Palihapitiya said that he believed bitcoin to be "the ultimate insurance policy against autocracy, currency curbs and other forms of value destruction."TweetCryptocurrencies have seen increasing mainstream adoption, with celebrities such as Paris Hilton and Michelle Mone getting involved.Socialite and TV personality Hilton said she would be participating in an ICO last month, led by a firm called Lydian. Entrepreneur Mone launched a £250 million ($330 million) luxury property development in Dubai, and claimed it would be the first to be priced in bitcoin . China's clampdown on cryptocurrencies has reportedly taken a new direction to close down local bitcoin exchanges. Initial reports from Chinese media that the government plans to close down domestic cryptocurrency exchanges have seen the virtual coin shed more than $100 since Friday. Bloomberg and the Wall Street Journal also reported Monday that that the country is planning to shut down digital currency exchanges. Bitcoin sunk to a low of $4,241 in late trading in the U.K. Friday, and reached a low of $4,108 on Monday, according to Coindesk data . It climbed to a record high of $5,000 dollars a little over a week ago, and has shot up by nearly 350 percent since the start of the year. The latest reported crackdown follows a decision by Chinese regulators including the People's Bank of China (PBOC) to ban initial coin offerings (ICOs). ICOs are a means of raising funds by selling off new digital tokens. A crackdown on ICOs would not affect the original cryptocurrency directly, but bitcoin still dropped more than $1,000 over a period of three days . China's latest move to shut down local exchanges would mark a new direction for the country in its efforts to regulate the market. More regulation could follow An analyst told CNBC last week that China could be just one of many countries lining up to put increasing regulatory pressure on the $150 billion cryptocurrency market. "The Chinese market has been perhaps the most virulently exuberant in terms of its irrational excesses and across the world regulators are looking to gradually turn up the regulatory heat on this ICO phenomenon," Charles Hayter, CEO and founder of digital currency comparison website Crypto Compare, told CNBC via email last Tuesday. Experts also claimed the move could bring some much needed law and order to the market, by toughening up on fraud and scams. 'Nothing is ever certain' Crypto Compare's Hayter said Monday that "nothing is ever certain" when it comes to China's rhetoric on virtual cash. "With China nothing is ever certain and a lot is left to be desired in terms of translation and interpretation. Rumors are that the Chinese are looking to ban bitcoin again and ring-fence their fiat yuan from the crypto world. The fears of capital outflows as well as money laundering are causing the Chinese state to ratchet the rhetoric," he said via email. He added that the latest move wouldn't affect the market too deeply, as China "isn't that important". "The recent moves against ICOs rocked the market but have left it relatively unscathed. Examples will doubtless be made the question is who and when. The crypto markets realized earlier in the year that China isn't that important as it only accounts for less than 20 percent of volumes Japan, the US and Korea to an extent are more than enough to sustain healthy volumes. Uncertainty for the time being in China whilst for the rest of the world its business as usual." 'China needs to tread carefully' Chamath Palihapitiya, venture capitalist and owner of the Golden State Warriors, took to Twitter Monday to voice his own thoughts on China's cryptocurrency crackdown. The former Facebook employee warned China to "tread carefully" in dealing with bitcoin's meteoric rise. Tweet The virtual currency operates on a peer-to-peer network, allowing traders to send transactions or payments without the need for a central authority. In May, Palihapitiya said that he believed bitcoin to be "the ultimate insurance policy against autocracy, currency curbs and other forms of value destruction." Tweet Cryptocurrencies have seen increasing mainstream adoption, with celebrities such as Paris Hilton and Michelle Mone getting involved. Socialite and TV personality Hilton said she would be participating in an ICO last month, led by a firm called Lydian. Entrepreneur Mone launched a £250 million ($330 million) luxury property development in Dubai, and claimed it would be the first to be priced in bitcoin . More From CNBC China ICO ban will help prevent scams but could create competition, experts say Bitcoin price drops $200 after new ruling from Chinese regulators SpaceX says the worlds most powerful rocket has completed first-stage testing || Fidelity allows clients to see digital currencies on its website: By Anna Irrera NEW YORK (Reuters) - Fidelity Investments has started allowing clients to use its website to view their holdings of bitcoin and other cryptocurrencies held through digital wallet provider Coinbase, the company said on Wednesday. The initiative, previously tested with the Boston-based money manager's employees, is a rare example of an established financial services company warming up to cryptocurrencies. Starting Wednesday, most Fidelity clients will be able to authorize Coinbase, one of the largest crypto-currency exchanges in the United States, to provide the fund manager with data on their holdings. Through the experiment, the company said it aims to learn more about digital currencies, which have been proliferating since the creation of Bitcoin, the oldest and most valuable of these assets. Coinbase enables users to buy and trade Bitcoin as well as competitor virtual currencies Ethereum and Litecoin. "This is an experiment in the spirit of learning what these crypto assets are like and how our customers may want to interact with them," Hadley Stern, senior vice president and managing director at Fidelity Labs, the company's innovation unit, said in an interview. Bitcoin hit a record high on Tuesday, with one unit of bitcoin trading at above $3,400 on Coinbase. The currency's rise in value is not a driving force behind the initiative, Stern said, noting that the integration is part of Fidelity's wider efforts around cryptocurrencies and their underlying technology blockchain. Many large financial institutions around the world have been investing in blockchain over the past two years, in the hopes that it can help them slash costs and simplify some processes. Blockchain is a shared ledger of transactions maintained by a network of computers on the internet rather than a central authority. However, most established financial firms have shied away from associating themselves with bitcoin and cryptocurrencies, because the sector remains largely unregulated. Story continues Fidelity's Chief Executive Officer Abigail Johnson announced the company's intention to launch the Coinbase integration at an industry conference in May. At the time Johnson also revealed that Fidelity had been accepting bitcoin payments in its cafeteria, but said the experiment had highlighted the technology's flaws as a means of payments. "But I am still a believer – and it's no accident that I'm one of the few standing before you today from a large financial services firm that hasn't given up on digital currencies," Johnson said at the time. (This version of the story has been refiled to remove "Inc" from Fidelity Inc's name) (Reporting by Anna Irrera; Editing by David Gregorio) || Bitcoin, Bitcoin Cash and the “Wise Guys” Bubble: InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Just as each recovery and recession are different, so is each bubble preceding a crash.
Source: Shutterstock
The Internet bubble of the 1990s involved investors lying to one another about the prospects for stocks, pushed into the public market by “wise guys” in the venture capital world. There were losers, but at least we had our eyes wide open. We were warned.
The housing bubble of the last decade was about wise guys trading a lie called mortgage insurance. Those who bought the lie lost homes and fortunes. This was true even for those of us far from the bubble itself.
Popping a bubble creates financial waves. The bigger the bubble, the louder the pop, the bigger the waves. The last popping nearly took down the global economy.
Right now, we’re in what I call a wise guys bubble. Unicorns are at the heart of this bubble. Venture capitalists have convinced their investors that companies likeUberare worth what they claim they are. These values have not been tested in the public market. Those which have been went the way ofSnap Inc(NYSE:SNAP).
Bitcoin, and other cryptocurrencies, are also a part of the wise guy bubble. The programmers, market-makers, traders and boosters behind Bitcoin have convinced many people that encryption keys have real value, that they’re not only money but better than money, because they’re not manipulated by government.
• Should You Buy Bitcoin? 3 Pros, 3 Cons
But they are manipulated by Wise Guys, as we saw this past week with the fork of Bitcoin and Bitcoin Cash.
At a stroke, we are told, $6.3 billion in new value was created. If you had Bitcoins on July 31, you woke up Aug. 3 to find you had both Bitcoins — worth even more than they had been — along with an equal supply of Bitcoin Cash. One BTH for each BTC.
Unless, that is, you had your Bitcoins parked at Coinbase, the largest Bitcoin exchange.Coinbase refused to accept the fork. If you chose a Coinbase wallet the way you would a bank — because it was big and therefore safe — you’re out almost $400 for each Bitcoin you had there.
That’s not all the shenanigans going on at Bitcoin exchanges. Another such exchange, Poloniex, changed its terms of service last week, deciding that it now owned anything its customers said about it on social media. Some critics claimed it was preparing to steal their Bitcoin Cash tokensand keep that money for itself.
There is no Federal Reserve for Bitcoin, or any other cryptocurrency. It’s the way banks were before the creation of the Federal Reserve in 1913, when a “run” meant the bank was running off with the depositors’ money and those who didn’t get out immediately were just out of luck.
Since few unicorns have gone public, investors are also in the dark about the value of their holdings. CB Insights recently counted 209 unicorns witha total valuation of $730 billion, more than the value of the Moscow and Tel Aviv stock exchanges put together.
Compared with this, the $101 billion value of the cryptocurrency market is small. But taken together with unicorns, that’s nearly $850 billion — almost10 times the dollar volumeof stocks trading on the New York Stock Exchange on a given day.
• Bitcoin and Ethereum Price Surge: Are Cryptocurrencies Becoming the New Reality?
That’s also $850 billion in value that is backstopped by no central authority — value that its owners would likely have to recoup in the event of a crash by selling other assets.
When the Wise Guy bubble pops — and it will — the damage to the real economy is going to be massive.
Dana Blankenhorn is a financial and technology journalist. He is the author of the historical mystery romanceThe Reluctant Detective Saves the World, a mystery novel involving Bitcoin, available now at the Amazon Kindle store. Write him [email protected] follow him on Twitter at@danablankenhorn. As of this writing, he did not hold a position in any of the aforementioned securities. To follow the value of crypto currencies, bookmarkhttps://coinmarketcap.com/.
The postBitcoin, Bitcoin Cash and the “Wise Guys” Bubbleappeared first onInvestorPlace. || Cryptocurrency market cap nears $120B amid monster Bitcoin rally: Cryptocurrency market cap nears $120 billion Investing.com - The total value of all publicly traded cryptocurrencies climbed to an all-time high on Monday, as a monster rally erupted amid growing optimism over the future of digital currencies. The value of all cryptocurrencies in circulation was at around $117 billion in early trade, just above its previous all-time high of $116.2 billion set on June 12. Bitcoin, arguably the most popular cryptocurrency in the world, surged to a record high of $3,426, amid easing concern over the digital currency's future following last week's relatively uneventful 'hard fork' split. The cryptocurrency has now more than tripled in value for the year, taking the total value of Bitcoin in circulation to about $55 billion. Ethereum reached a market cap of roughly $25 billion, as prices rose nearly 3% to the $270-level. Ripple, with a market cap of close to $7 billion rounds up the top three largest cryptocurrencies. Meanwhile, the one-week old Bitcoin Cash rallied almost 30% to $256. The coin, which was created after Bitcoin split into two on August 1, has already amassed a market cap of $4.4 billion, ranking it as the fourth largest cryptocurrency. Related Articles Lithium processors prepare to meet demand in era of electric car Hearst invests in emerging markets streaming video provider Bitcoin hits fresh record high, Bitcoin Cash also higher || First Bitcoin Capital Demonstrates Tokens Ownership; Confirms Yesterday as Record Date for Dividend; and Provides Updates to Shareholders: TEL AVIV, ISRAEL / ACCESSWIRE / September 13, 2017 / First Bitcoin Capital Corp. (OTC PINK: BITCF) (the "Company") announced today that the record date for its crypto coin dividend remains September 12, 2017. Shareholders are to receive approximately .048 TeslaCoil Coin for each share of BITCF held on the record date. This is based on the closing price of $0.037 declared on August 2, 2017, and yesterday's closing price of each TeslaCoil Coin at $0.768797 as a 10% dividend. The Company can provide no assurances that after this dividend is paid the price per TeslaCoil Coin will continue in its current trading range once in the hands of our public shareholders due to the sporadic, low volume, historical trading record found at coinmarketcap.com. While FINRA may set an ex-dividend date for this dividend, based on the payment date, the Company can make no assurances that the regulatory agency will set or publish an ex-dividend date as this is history's first cryptocurrency dividend to public shareholders. As an additional point of information, the Company has decided that, on a periodic basis, it will publish a blockchain event or events designed to provide proof of ownership of the crypto tokens contained in the Company's four major wallets. These events consist of certain transactions conducted by the Company between or within its three primary Omni wallets and a specified transfer from its Ethereum Wallet. Because distributed ledgers such as the Bitcoin Blockchain and the Omni layer built on the blockchain are open to public inspection, the token transfers will transparently demonstrate its ownership of the crypto tokens. Only a person or entity with the private keys to these wallets can initiate any transaction or event involving these tokens. The first transfer will be for 18.18 Tesla property #50 from our first Omni Wallet located here: http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS These 18.18 will be transferred to our second Omni Wallet here: http://omnichest.info/lookupadd.aspx?address=1VuF26AgLyQ4tBoGzYTWRqtDG9zCB7QXe Story continues From this second Omni Wallet 19.19 FUEL property #189 will be sent to the first wallet. From the third Omni Wallet we will send 20.00 UAE property #193 to our first wallet: http://omnichest.info/lookupadd.aspx?address=1M18oycUdsXv4pKyLLiASREcRGzPu22MxK From our Ethereum Wallet, we will transfer 18.18 Alphabit (COIN:ABC) to a wallet we will establish under our control. Once these transfers are confirmed on the various blockchains, we will issue another press release that will allow the public to verify, through distributed ledger technology, the Company's transparent ownership of these tokens. These "proof of ownership" transactions have been designed by the Company to put to rest any questions or doubts raised by concerned shareholders. For those whom did not see the Company's news releases regarding recent events and the responses by the Company to certain recent "lawyer advertisements" by certain New York law firms, please see the following three links found on the OTC Markets New Service: http://www.otcmarkets.com/stock/BITCF/news/Swap-out-of--HILL-for--LOYAL-and--BURN-for--XOM-Completed--OTC-Trading-to-Resume-Tomorrow---FINRA-Provided-White-Paper-for-TESLACOIL-COIN-Dividend?id=169299&b=y http://www.otcmarkets.com/ajax/showNewsReleaseDocumentById.pdf?id=27170 http://www.otcmarkets.com/stock/BITCF/news/First-Bitcoin-Capital-Issues-Letter-to-New-York-Law-Firms--Demands-That-Improper-Communications-to-the-Public-and-its-Shareholders-Cease?id=169032&b=y The Company asks all potential shareholders to carefully consider the high risks involved in speculating in our common stock and to take note of the fact that all of the extensive inventory of our various altcoins, while showing significant potential, is highly speculative, and these cryptocurrencies are extremely illiquid and only trade sporadically on small, unregulated foreign cryptocurrency exchanges. 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 and in developing new types of digital tokens. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as well as crypto exchanges under the unified symbol BITCF) we want to provide our shareholders with diversified exposure to digital crypto currencies and blockchain technologies. At this time, the Company owns, controls and/or operates more than the following digital tokens 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.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 including Tokens owned and/or managed 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 at www.OTCMarkets.com . Contact us via: [email protected] or visit http://www.bitcoincapitalcorp.com . SOURCE: First Bitcoin Capital Corp. || Here's Why Semiconductor ETFs Could Continue Their Rally: An article published on MarketWatch highlighted an analysts claims that chip inventories are at multi-year highs. This along with Qualcomms litigation case related to Korea Fair Trade Commission ruling weighed on the U.S. semiconductor sector on Sep 5. VanEck Vectors Semiconductor ETF SMH, PowerShares Dynamic Semiconductors ETF PSI and iShares PHLX Semiconductor ETF SOXX lost in the range of 1.2% to 1.4% on the day. However, investors should note that this is a short-term or almost negligible blip as several positive factors are in play. Investors can very well use this dip as a buying opportunity to the broader semiconductor sector, relying on the below-mentioned factors: Upbeat Sales The Semiconductor Industry Association (SIA) recently announced that global sales of semiconductors were $33.6 billion in Jul 2017, marking a year-over-year gain of 24% and a sequential rise of 3.1%. All the key geographies registered both year-over-year and month-over-month increases in July, and the Americas market were at the forefront with year-over-year growth of 36.1% and a sequential rise of 5.4% (read: Semiconductor ETFs to Roar Higher As Q2 Earnings Unfold). Usage of Semiconductor in Cryptocurrencies Bitcoin is on a tear this year. The digital currency has now more than quadrupled in value from around $997 at the start of the year. Bitcoins are mined by using a greater amount of computer processing power. Creation and transactions in bitcoin are controlled through cryptography to keep transactions secure (read: Bitcoin Skyrockets, Race to First Cryptocurrency ETF Heats Up). Like bitcoin, Ether or etherum is also popular this year. Now, mining of cryptocurrencies needs the usage of semiconductors. A hardware known as an ASIC (Application-Specific Integrated Circuit) has been designed exclusively for mining bitcoin. This where semiconductor companies can gain traction. As per Bloomberg, there was a 10-fold rise from April to June in the Ethereum market which helped shares of Nvidia Corp. NVDA and Advanced Micro Devices Inc. AMD substantially. Barclays recently added that Nvidia is better placed than its competitors to cash in on the cryptocurrency rally. Story continues DRAM/NAND Supply/Demand Dynamics DRAM and NAND prices have improved primarily due to higher-than-expected demand for PCs. It is a really promising area for the semiconductor market. In the early phase of the year, HP Inc hinted that there may be a shortage of DRAM and Flash memory chips. Notably, NAND flash memory chips are also used in smartphones and tablets. With rising adoption of smartphones, especially in emerging markets, demand for NAND chips are self-explanatory. Value-Centric Area In any case, semiconductor is the value-centric traditional tech area that is likely to have an upper hand in an edgy investing environment. Moreover, the semiconductor space is consolidating rapidly with a number of deals announced lately. Favorable Zacks Ranks The Zacks Sector Rank is in the top 44%. While semiconductor stock Applied Materials Inc. s AMAT Zacks Industry Rank is in the top 2%, Micron Technology Inc. s MU Zacks Industry Rank is in the top 1% and NVIDIA Corp.s Zacks Industry Rank is in the top 1%. Moreover, PSI, SMH and SOXX have a Zacks Rank #1 (Strong Buy) (read: Should You Buy These Semiconductor ETFs & Stocks Now). Want key ETF info delivered straight to your inbox? Zacks free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report ISHARS-PHLX SEM (SOXX): ETF Research Reports PWRSH-DYN SEMI (PSI): ETF Research Reports VANECK-SEMICON (SMH): ETF Research Reports NVIDIA Corporation (NVDA) : Free Stock Analysis Report Micron Technology, Inc. (MU) : Free Stock Analysis Report Applied Materials, Inc. (AMAT) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research 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 || 'Bitcoin cash' potential limited, but a catalyst could be looming for it to take off, experts say: "Bitcoin cash," the cryptocurrency created as a result of a split in the bitcoin (Exchange: BTC=-USS) blockchain, may not have long-term potential, industry insiders told CNBC, but a key event down the road could give it more backing. To recap, the underlying bitcoin technology known as the blockchain underwent a "fork" , meaning it split to create a new digital currency. This happened because the community disagreed on how to increase the capacity of the blockchain, which was struggling with record-high transaction times for bitcoin. As a result of the split, "bitcoin cash" was created. And it has had a volatile start . It hit a high of just over $727 on Wednesday before more than halving to just over $310 in the space of a few hours, according to price tracking site Coinmarketcap.com. Many experts said there would likely be some short-term trading activity, but have expressed doubt over the longer-term potential of "bitcoin cash". "Over the longer term, Bcash's prospects are limited due to the relatively small size of the community maintaining its blockchain, developing its software and using the cryptocurrency," Aurelien Menant, founder and CEO of cryptocurrency exchange Gatecoin, told CNBC by email. Menant said Gatecoin would start supporting trade with "bitcoin cash". This is in contrast to Coinbase, the world's largest bitcoin exchange, which decided not to support the new cryptocurrency. In a Tweet on Tuesday, Coinbase CEO Brian Armstrong, said we "don't want to rush anything out," highlighting the uncertainty over "bitcoin cash's" future. TWEET But the continuing debate over the underlying bitcoin technology continues. The fight was over how much to increase the block size of the blockchain. To understand this, it's important to outline how transactions work. Transactions by users are gathered into "blocks" which is turned into a complex math solution. So-called miners, using high-powered computers work these solutions out to determine if the transaction is possible. Once other miners also check the puzzle is correct, the transactions are approved and the miners are rewarded in bitcoin. Story continues Increasing the block size would boost transaction speeds. Some people wanted a solution that would dramatically increase the block size from its current 1 megabyte level. But the majority of the community have decided to increase the block size to 2 megabytes. A full recap of what has happened can be found here . This 2MB increase is likely to come into effect in November, providing miners stick to their word and make the necessary software updates. If this doesn't happen, then "bitcoin cash" could get a boost. "If most miners decide that for economic reasons they prefer to mine larger blocks and commit more hashing power to Bcash, then it's likely more development work and user adoption would follow, and those conducting business with bitcoin may decide to adopt Bcash instead," Menant said. "Yet for this to happen Bcash would need to prove that its technology can match the security features and reliability of bitcoin's software," he added, striking a note of caution. More From CNBC Samsung launches a high-end dual-screened Android flip phone Microsoft is testing a feature to let you control parts of Windows 10 with your eyes Apple's China revenues fall 10% as analyst claims iPhone has 'gone out of fashion' || Gold And Bitcoin Surge On North Korea Fears (GOAU): If you’re familiar with ABC’s popular reality showShark Tank,you should already be familiar with the concept behind theSan Antonio Angel Network (SAAN).Select entrepreneurs and innovators pitch their startup ideas to accredited investors, who can choose to make early-stage investments in a potentially successful company.
I attended an SAAN meeting last week at Ferrari of San Antonio, and what struck me the most was how fluid and seamless the whole thing is. Other professionals in attendance, including lawyers and CPAs, had a similar opinion, with some of them saying it was because there wasn’t any bureaucracy or red tape to hamstring the presenters.
This is unlike the world of mutual funds, which I believe has become excessively regulated.
As I’ve said numerous times before, regulation is essential, just as referees are essential to a basketball game. No one disputes that, because otherwise there would be chaos.
Similarly, the new and very unregulated world of cryptocurrencies has grown dramatically, beyond bitcoin and ethereum. Did you know there are over 800 cryptocurrencies? These new initial coin offerings, called ICOs, are like initial public offerings (IPOs) but with little regulation or accountability. As I’ve commented before, if the refs get too powerful or too numerous, and the rules too complex, the game becomes nearly unplayable.
Cryptocurrencies Still Draw Investor Attention Following China Crackdown
Bitcoin, ethereum and other cryptocurrencies have had a meteoric year, with more than $2 billion raised in ICOs so far in 2017, according to Bloomberg. Approximately $155 billion in cryptocurrencies are in circulation around the world right now. Bitcoin by itself is at $78 billion, which is close to the $90 billion invested in all gold ETFs.
Like gold, cryptos are favored by those who have a deep distrust of fiat currency, or paper money. Money, after all, is built on trust, and the blockchain technology that bitcoin is built on top of automates trust through an electronic ledger that cannot be altered. Every transaction is anonymous and peer-to-peer. The system is entirely decentralized and democratic. No monetary authority can see who owns what and where money is flowing.
This, of course, is a huge reason why some world governments want to crack down on the Wild West of virtual currencies, especially with bitcoin surging close to $5,000 this month.
China did just that last week, putting a halt to new ICOs and crypto transactions. In response, ethereum tumbled as much as 15.8 percent last Monday, or $55 a unit. Bitcoin lost $394 a unit.
China’s decision comes a little more than a month afterthe SEC said cryptocurrencies are securitiesand therefore should probably be regulated as such. At this point, though, the implications are unclear.
What’s clear to me–after seeing firsthand how easily and quickly transactions are made–is that there’s no going back. It’s possible cryptocurrencies will one day be regulated. But I’m confident bitcoin, ethereum and some other virtual currencies offer enough value to weather such a potential roadblock.
I also believe there has to be a happy medium between the excessively regulated fund industry and the potential chaos of the cryptocurrency. This is what I witnessed at the SAAN event I mentioned, which allowed the professionals in attendance to gain information, ask questions and make informed decisions.
Gold Trading Above $1,350 an Ounce
Speaking on cryptocurrencies last week, Mark Mobius, executive chairman of Templeton Emerging Markets Group, said gold could be a beneficiary of China’s decision to clamp down on ICOs. As more governments and central banks turn their attention to virtual currencies, investors could move back into the yellow metal as a store of value.
That’s a possibility, but I think gold’s price action right now is being driven by negative real Treasury yields and fears over a potential conflict with North Korea. Adjusted for inflation, the two-year and five-year Treasuries are both currently yielding negative amounts, and the 10-year continues to fall closer to 0 percent.
As I’ve explained numerous times before, gold and real interest rates share an inverse relationship. It makes little sense to invest in an asset that’s guaranteed to cost you money–which is the case with the two-year and five-year government bond right now. Investors seeking a “safe haven” might therefore add to their weighting in gold, especially with North Korea’s Kim Jong-Un raising tensions.
The yellow metal closed above $1,350 an ounce, more than a one-year high.
Despite Efforts to Control Spending, National Debt Expected to Continue Growing: CBO
Similarly driving the gold Fear Trade are concerns over the national debt. Last week President Donald Trump sided with Congressional Democrats in raising the federal borrowing limit to allow Hurricane Harvey recovery aid to pass. An initial package of $7.85 billion for Harvey victims was agreed upon, but with total costsexpected to be as high as $190 billion–more than the combined costs of Hurricanes Katrina and Sandy–and with Hurricane Irma yet to make landfall in Florida, the federal aid amount could eventually run even higher.
Trump partially ran on reigning in government spending, which I and many others would like to see. Even so, this might not be enough to control our runaway debt. According to an August report by theCongressional Budget Office (CBO),debt will likely continue to grow as spending for large federal benefit programs–Social Security, Medicare and the like–outpaces revenue. Interest payments on the debt will only continue to accelerate as well.
Below is a chart showing national debt as a percentage of GDP going back to the founding of the U.S. Although we’ve seen periodic spikes in response to national crises, the debt could soar to unprecedented levels within the next 10 years.
Financial writer Alex Green, the Oxford Club’s chief strategist, told me during my recent interview with him that he thought out-of-control spendingposed a greater threat to our countrythan even North Korea.
I tend to agree with him, and that’s why I believe that investors should have a 10 percent allocation in gold, with 5 percent in bullion and 5 percent in gold stocks, mutual funds and ETFs.
I urge you to watch this brief video on investing opportunities in gold miners!
Watch the video!
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Gold, precious metals, and precious minerals funds may be susceptible to adverse economic, political or regulatory developments due to concentrating in a single theme. The prices of gold, precious metals, and precious minerals are subject to substantial price fluctuations over short periods of time and may be affected by unpredicted international monetary and political policies. We suggest investing no more than 5% to 10% of your portfolio in these sectors.
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If you’re familiar with ABC’s popular reality showShark Tank,you should already be familiar with the concept behind theSan Antonio Angel Network (SAAN).Select entrepreneurs and innovators pitch their startup ideas to accredited investors, who can choose to make early-stage investments in a potentially successful company.
I attended an SAAN meeting last week at Ferrari of San Antonio, and what struck me the most was how fluid and seamless the whole thing is. Other professionals in attendance, including lawyers and CPAs, had a similar opinion, with some of them saying it was because there wasn’t any bureaucracy or red tape to hamstring the presenters.
This is unlike the world of mutual funds, which I believe has become excessively regulated.
As I’ve said numerous times before, regulation is essential, just as referees are essential to a basketball game. No one disputes that, because otherwise there would be chaos.
Similarly, the new and very unregulated world of cryptocurrencies has grown dramatically, beyond bitcoin and ethereum. Did you know there are over 800 cryptocurrencies? These new initial coin offerings, called ICOs, are like initial public offerings (IPOs) but with little regulation or accountability. As I’ve commented before, if the refs get too powerful or too numerous, and the rules too complex, the game becomes nearly unplayable.
Cryptocurrencies Still Draw Investor Attention Following China Crackdown
Bitcoin, ethereum and other cryptocurrencies have had a meteoric year, with more than $2 billion raised in ICOs so far in 2017, according to Bloomberg. Approximately $155 billion in cryptocurrencies are in circulation around the world right now. Bitcoin by itself is at $78 billion, which is close to the $90 billion invested in all gold ETFs.
Like gold, cryptos are favored by those who have a deep distrust of fiat currency, or paper money. Money, after all, is built on trust, and the blockchain technology that bitcoin is built on top of automates trust through an electronic ledger that cannot be altered. Every transaction is anonymous and peer-to-peer. The system is entirely decentralized and democratic. No monetary authority can see who owns what and where money is flowing.
This, of course, is a huge reason why some world governments want to crack down on the Wild West of virtual currencies, especially with bitcoin surging close to $5,000 this month.
China did just that last week, putting a halt to new ICOs and crypto transactions. In response, ethereum tumbled as much as 15.8 percent last Monday, or $55 a unit. Bitcoin lost $394 a unit.
China’s decision comes a little more than a month afterthe SEC said cryptocurrencies are securitiesand therefore should probably be regulated as such. At this point, though, the implications are unclear.
What’s clear to me–after seeing firsthand how easily and quickly transactions are made–is that there’s no going back. It’s possible cryptocurrencies will one day be regulated. But I’m confident bitcoin, ethereum and some other virtual currencies offer enough value to weather such a potential roadblock.
I also believe there has to be a happy medium between the excessively regulated fund industry and the potential chaos of the cryptocurrency. This is what I witnessed at the SAAN event I mentioned, which allowed the professionals in attendance to gain information, ask questions and make informed decisions.
Gold Trading Above $1,350 an Ounce
Speaking on cryptocurrencies last week, Mark Mobius, executive chairman of Templeton Emerging Markets Group, said gold could be a beneficiary of China’s decision to clamp down on ICOs. As more governments and central banks turn their attention to virtual currencies, investors could move back into the yellow metal as a store of value.
That’s a possibility, but I think gold’s price action right now is being driven by negative real Treasury yields and fears over a potential conflict with North Korea. Adjusted for inflation, the two-year and five-year Treasuries are both currently yielding negative amounts, and the 10-year continues to fall closer to 0 percent.
As I’ve explained numerous times before, gold and real interest rates share an inverse relationship. It makes little sense to invest in an asset that’s guaranteed to cost you money–which is the case with the two-year and five-year government bond right now. Investors seeking a “safe haven” might therefore add to their weighting in gold, especially with North Korea’s Kim Jong-Un raising tensions.
The yellow metal closed above $1,350 an ounce, more than a one-year high.
Despite Efforts to Control Spending, National Debt Expected to Continue Growing: CBO
Similarly driving the gold Fear Trade are concerns over the national debt. Last week President Donald Trump sided with Congressional Democrats in raising the federal borrowing limit to allow Hurricane Harvey recovery aid to pass. An initial package of $7.85 billion for Harvey victims was agreed upon, but with total costsexpected to be as high as $190 billion–more than the combined costs of Hurricanes Katrina and Sandy–and with Hurricane Irma yet to make landfall in Florida, the federal aid amount could eventually run even higher.
Trump partially ran on reigning in government spending, which I and many others would like to see. Even so, this might not be enough to control our runaway debt. According to an August report by theCongressional Budget Office (CBO),debt will likely continue to grow as spending for large federal benefit programs–Social Security, Medicare and the like–outpaces revenue. Interest payments on the debt will only continue to accelerate as well.
Below is a chart showing national debt as a percentage of GDP going back to the founding of the U.S. Although we’ve seen periodic spikes in response to national crises, the debt could soar to unprecedented levels within the next 10 years.
Financial writer Alex Green, the Oxford Club’s chief strategist, told me during my recent interview with him that he thought out-of-control spendingposed a greater threat to our countrythan even North Korea.
I tend to agree with him, and that’s why I believe that investors should have a 10 percent allocation in gold, with 5 percent in bullion and 5 percent in gold stocks, mutual funds and ETFs.
I urge you to watch this brief video on investing opportunities in gold miners!
Watch the video!
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Gold, precious metals, and precious minerals funds may be susceptible to adverse economic, political or regulatory developments due to concentrating in a single theme. The prices of gold, precious metals, and precious minerals are subject to substantial price fluctuations over short periods of time and may be affected by unpredicted international monetary and political policies. We suggest investing no more than 5% to 10% of your portfolio in these sectors.
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TheU.S. Global GO GOLD and Precious Metal Miners ETF (NYSE:GOAU)was trading at $13.46 per share on Monday afternoon, down $0.27 (-1.97%). Year-to-date, GOAU has gained 11.33%, versus a 12.52% rise in the benchmark S&P 500 index during the same period.
GOAUcurrently has anETF Daily News SMART GradeofNR (Not Rated), and is unranked among 35 ETFs in thePrecious Metals ETFscategory.
Frank Holmesis the CEO and chief investment officer of U.S. Global Investors. Mr. Holmes purchased a controlling interest in U.S. Global Investors in 1989 and became the firm’s chief investment officer in 1999. In 2006, Mr. Holmes was selected mining fund manager of the year by the Mining Journal, and in 2011 he was named a U.S. Metals and Mining “TopGun” by Brendan Wood International. He is also the co-author of The Goldwatcher: Demystifying Gold Investing. More than 30,000 subscribers follow his weekly commentary in the award-winning Investor Alert newsletter which is read in over 180 countries. || Bitcoin and Ethereum Price Forecast – Bitcoin Prices Stall Ahead of $5000: Bitcoin prices continued their bullish run as they ran up just shy of the $4800 region and have since corrected a bit and trade just above the $4700 mark as of this writing and continue to look bullish in the short term. The round figure of $5000 could bring in some resistance to this leg of bullishness and we might see some consolidation and ranging and probably even some correction in the prices before the next move higher.
Get Into Bitcoin Trading Today
The prices of bitcoin have always tended to be volatile and the best way to trade the instrument is to be strong in a technical sense. Being a market that is not yet fully mature, the market has a tendency to follow the technicals like the moving averages and trend lines very strictly. Many of the traders still do not understand the fundamentals behind the prices of bitcoin and they tend to fall back upon technicals to make their trades and as long as we follow what the larger traders are doing, we will tend to do well and that is the same with bitcoin as well.
The ethereum market has tended to follow the bitcoin prices of late and this is what we have been seeing over the last 24 hours as the prices of ETH have also continued to move higher as they head towards the $400 mark. As we have been saying lately, we believe that the ETH market has a lot more potential, purely in terms of ROI and as more and more traders begin to realise this, they are likely to flock to the ETH market which should see a boost in the short and medium term.
Over the coming days, considering that the crypto market is open on the weekend also, we see a bit of coonsolidation happening in the bitcoin market as it approaches the $5000 mark and we believe that the ETH prices would continue to move up through the $400 mark.
The Best and Safest Way to Buy and Sell Bitcoins
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Thisarticlewas originally posted on FX Empire
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• Crude Oil Forecast September 1, 2017, Technical Analysis || North Korea is trying to get around sanctions by using hackers to steal bitcoin: North Korea is trying to steal bitcoin and other virtual currencies to avoid sanctions and fund Kim Jong Un's regime, according to a report. The report, published Monday by cybersecurity firm FireEye ( FEYE ), found that North Korean hackers had targeted at least three South Korean cryptocurrency exchanges with the suspected aim of stealing the digital tokens. According to FireEye, hackers used spear phishing a fraudulent method of sending emails to make them look like they were sent by someone you know and dispersed malware to obtain virtual cash illicitly. Hackers affiliated with the North Korea have previously been accused of using cyberattacks to target banks. FireEye logged suspicious activity affecting the exchanges over several months. In April, four wallets on the Seoul-based cryptocurrency exchange Yapizon were compromised, but could not be clearly linked to North Korean involvement. Later in May, the firm monitored a spear phishing attack that successfully compromised an exchange. Governments of all kinds grapple with cryptocurrency Bitcoin has surged in price and popularity this year, and reached an all-time high of $5,103 earlier this month. But the asset is highly volatile. Its value dipped more than $1,000 within three days following China's decision to ban initial coin offerings (ICOs), which allow start-ups to raise funds by selling new digital currencies. The Chinese government took a notably harsher stance on Monday, after it was widely reported local bitcoin exchanges would be shut down by authorities. This saw the price hit a low of $4,108 on Monday. On Tuesday, bitcoin recovered somewhat, and was trading at $4,342 at 1 p.m. London time, up 3.66 percent. "As bitcoin and other cryptocurrencies have increased in value in the last year, nation states are beginning to take notice," Luke McNamara, senior cyberthreat intelligence analyst at FireEye, wrote in the report. Several governments have shown increasing interest in virtual currencies as they move out of the periphery and into the mainstream. The U.S. government, for instance, has signaled that securities law could apply to ICOs . Meanwhile, Estonia has said it wants to launch its own cryptocurrency , called "estcoin," via a state-backed ICO. Australia has also proposed legislation that would bring digital currency exchange providers under the authority of its government financial intelligence agency, in an effort to clamp down on money laundering and other illicit activities. "Consequently, it should be no surprise that cryptocurrencies, as an emerging asset class, are becoming a target of interest by a regime that operates in many ways like a criminal enterprise," McNamara said. "While at present North Korea is somewhat distinctive in both their willingness to engage in financial crime and their possession of cyber espionage capabilities, the uniqueness of this combination will likely not last long-term as rising cyber powers may see similar potential. Cyber criminals may no longer be the only nefarious actors in this space." Dodging sanctions The U.N. Security Council this week approved a resolution to step up sanctions against North Korea. The country has faced increasing international trade pressure following its decision to conduct a missile test over Japan earlier this month and its detonation of what it claimed as a hydrogen bomb in an underground test. According to the FireEye report, sanctions "could be driving" North Korea's interest in cryptocurrencies. FireEye said the country could be attempting to obtain hard cash in exchange for stolen virtual coins in order to fund the regime. The value of bitcoin (Exchange:BTC=-USS) alone has climbed by 350 percent this year. The U.N.'s sanctions resolution was subsequently rejected by North Korea. WATCH: Skeptic admits bitcoin could be a legit currency More From CNBC Bitcoin has seen $15.5 billion wiped off its value in 11 days China ICO ban will help prevent scams but could create competition, experts say Bitcoin price drops $200 after new ruling from Chinese regulators
[Random Sample of Social Media Buzz (last 60 days)]
Bearish #bitcoin USD price forecast: Sell bitcoin at $4164 #BTCUSD #NorthKorea http://bit.ly/2vtOlR2 pic.twitter.com/FpkNkZd67a || Here she is in 2003 cheering on the invasion of Iraqhttps://www.aei.org/publication/the-streets-of-baghdad/ … || Чем обернется для держателей рост Bitcoin http://ift.tt/2vu73YG #биткойн #блокчейн #prizm || [The average price]
Bithumb,Coinone,Korbit
Time: 09/11 00:56:48
BTC: 4,721,333 KRW
ETH: 331,500 KRW
XRP: 236 KRW
#Bitcoin #Ethereum #Ripple || Latest price for BTC_XEM @ Poloniex is 0.00005760 [Mon Sep 18 00:51:41 2017] || SydesJokes: Arguing With A Woman #Bitcoin http://sydesjokes.blogspot.com/2012/01/arguing-with-woman.html … http://www.freebiebitcoin.com/# pic.twitter.com/4i50o7rJs2 || 08/27 05:00 Crypto currency sentiment analysis.
BTC : Positive
BCC : Neutral
ETH : Positive
ETC : Neutral
https://goo.gl/5hp6Cz #BTC || Order your secure and smart Bitcoin hardware wallet - Only 69.60 EUR https://www.ledgerwallet.com/r/4518?path=/products/ledger-nano-s … #bitcoin #btc 02:17 pic.twitter.com/eRNLCB6pIQ || Cotizaciones al 19/08/2017 05:00 PM
Bitcoin (BTC): 22.884.293
Ethereum (ETH): 1.641.401
Litecoin (LTC): 251.667
BTC Cash (BCH): 4.561.574 || BTC Real Time Price: ThePriceOfBTC: $3689.01 #bitstamp;
$3680.00 #GDAX;
$3699.90 #kraken;
$3688.00 #gemini;
$3829.99 #cex;
|
Trend: up || Prices: 4163.07, 4338.71, 4403.74, 4409.32, 4317.48, 4229.36, 4328.41, 4370.81, 4426.89, 4610.48
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2021-10-08]
BTC Price: 53967.85, BTC RSI: 66.11
Gold Price: 1756.30, Gold RSI: 45.77
Oil Price: 79.35, Oil RSI: 70.75
[Random Sample of News (last 60 days)]
Bitcoin and More Topple China’s Crypto Crackdown as They Continue Weekend Rally: DespiteChina’s crypto crackdown continuing to have consequences this weekend, the prices of cryptos rebounded after a brief slump. This morning, Bitcoin was at $43,700, up 0.4% in the past 24 hours, while Ethereum was at $3,075 up 2.45%, according to CoinMarketCap.
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Yesterday, Huobi, one of the world’s largest crypto exchanges, announced on its website that it had ceased registrations for new mainland Chinese users “to comply with local laws and regulations.” The exchange added that it will “gradually retire existing Mainland China user accounts by Dec 31, 2021, and ensure the safety of users’ assets,” as well
“We will inform users of the specific arrangements and details through official announcements, e-mails, text messages, etc. Huobi Global has always been dedicated to offering digital asset trading services and ensuring the safety of customer assets, while following all applicable laws. We apologize for any inconvenience caused and thank you for your understanding and support,” according to the announcement.
Last Friday, the People’s Bank of China reiterated its tough stance on cryptos, announcing on its website that all crypto-related activities were illegal. The announcement sent Bitcoin tumbling 5.5%, while Ether was down 8.4%, according to CoinMarketCap on Friday. In its posting, the bank added that virtual currency exchange, virtual currency trading as a central counterparty, provision of matching services for virtual currency transactions, token issuance financing and virtual currency derivative transactions are all illegal financial activities and are strictly prohibited and banned in accordance with the law.
More:Fed ‘Working Proactively’ To Issue Its Own Digital Dollar — Could It Topple Bitcoin and Other Cryptocurrencies?
The bank explained its decision by saying that in recent years, Bitcoin and other virtual currency transaction activities havedisrupted economic and financial order, “breeding money laundering, illegal fund-raising, fraud, pyramid schemes and other illegal and criminal activities, seriously endangering the safety of people’s property.”
In addition, Binance also said that account registrations using Chinese mobile phone numbers are now blocked and that the Binance app is also no longer available for download in China. “Binance takes its compliance obligations very seriously and is committed to following local regulator requirements wherever we operate,” a spokesperson told CNBC.
The sentiment is echoed by James Butterfill, investment strategist at CoinShares, who believes that the announcement doesn’t come as a surprise. Several experts, however, note that China’s clamping down will have little impact on cryptos, notably Bitcoin in the long-term.
Related:Experts Say Market Correction Is Opportunity for Young Investors To ‘Buy the Dip’
Butterfill, investment strategist at CoinShares,spoke on the matter with GOBankingRates on Friday, saying: “This has to be the 20th time or whatnot that China has supposedly banned Bitcoin. The first one was all the way back in 2017, and there have been several previously this year. Yes, there’s always something ‘different’ about the bans, but I think you get my drift here. This happens all the time and it’s never really dramatic in the larger scheme of things.”
He added that this may also relate to capital controls, with the Evergrande collapse, to prevent contagion and an exodus of capital from the country, a clampdown on Bitcoin is an easy target. “It should surprise no one that China doesn’t like Bitcoin. It is the pure antithesis of their regime of top-down centralized currency control with Orwellian surveillance features and full removal of all freedom of choice. Bitcoin is freedom money which inherently respects property rights, cannot discriminate against its users in any way, and doesn’t allow for confiscation, censorship or debasement. Obviously, the Chinese Communist Party will hate that,” Butterfill said.
Coinshares said this morning that both Ether and Bitcoin saw inflows last week, showing that the recent headwinds for digital assets, such as the widened China ban, were seen as buying opportunities for investors.
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Bitcoin saw the largest inflows of any investment product, totaling $50 million, while Ether saw $29 million in inflows, according to Coinshares data.
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Last updated: September 27, 2021
This article originally appeared onGOBankingRates.com:Bitcoin and More Topple China’s Crypto Crackdown as They Continue Weekend Rally || Bitcoin Tries To Settle Below The Support At $44,000: Bitcoinmanaged to get below the 50 EMA at $45,200 and is trying to settle below the next support level which is located at $44,000. This is an important moment for the whole crypto market as Bitcoin will have a great chance to develop additional downside momentum in case it manages to settle below the support at $44,000.
Not surprisingly, other cryptocurrencies are under pressure.Ethereumis currently trying to settle below $3,200.Dogecoinis testing the support at $0.2350, whileXRPis trying to settle below the 50 EMA near $1.05.
Bitcoin Dominance, which measures the market capitalization of Bitcoin as a percentage of total crypto market capitalization, has moved away from recent lows near 40%, but this move did not help Bitcoin as the whole crypto market is under strong pressure.
Bitcoin declined below the 50 EMA at $45,200 and is testing the next support level at $44,000. RSI is in the moderate territory, and there is plenty of room to gain additional downside momentum in case the right catalysts emerge.
If Bitcoin manages to settle below the support at $44,000, it will head towards the next support which is located near the recent lows at $42,600. A successful test of this support level will open the way to the test of the support at $41,300. In case Bitcoin declines below this level, it will move towards the psychologically important support level at $40,000.
On the upside, the previous support at the 50 EMA at $45,200 will serve as the first resistance level for Bitcoin. If Bitcoin manages to get back above this level, it will move towards the next resistance at $46,000.
A move above $46,000 will open the way to the test of the resistance at the 20 EMA at $47,000. In case Bitcoin manages to settle above the 20 EMA, it will continue its rebound and head towards the next resistance level which is located at $48,000.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
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• Morgan Stanley Cuts Boston Beer’s Target Price to $800 After Company Withdraws FY2021 Guidance || Bitcoin's October price rise suggests near-term crypto bull run amid regulation: Bitcoin and other cryptocurrencies are shooting up the charts this week, continuing their break-away pattern from the stock market over the last month. While bitcoin's (BTC-USD) volatile behavior still baffles plenty of investors, it's increasingly the safest bet as regulators worldwide signal a tightening over the crypto sector.
While the overall crypto market at times moves in lockstep with other risk-on assets, since October the asset class is showing some divergence. The S&P 500 (^GSPC) is down over the past month, but bitcoin, the largest cryptocurrency, is up more than 15%, and was trading at around $54,000 on Thursday. Ethereum (ETH-USD) and Doegcoin (DOGE-USD) have also gained more than 15% in the past week. Meanwhile, Shiba Inu coin (SHIB-USD) has risen more than 150% but is still trading well below the value of a penny.
Though 24/7 crypto markets remain in perpetual price discovery, investors tend to agree this week is bullish for BTC. Bitcoin's $1 trillion market cap and store of value – attributes that liken it to gold – are more appealing than ever for long-term holders. For larger institutional investors, its regulatory clarity makes it more attractive than many other crypto assets. Other macro indicators such as decisions coming out of the Federal Reserve could swing the market further in bitcoin's favor.
"Bitcoin is looking very technically clean, to the upside," saidChristopher Vecchio, senior strategist at DailyFX.com. While Vecchio pointed out that it's difficult to call an asset with bitcoin's level of volatility a safe haven, he said if anything, bitcoin is a leading risk indicator for technology stocks and that BTC could trade higher in the coming weeks.
Long-term holders of the asset tend to agree that bitcoin's largest players are tracking its risk-on behavior at the macro level.
“What the big money traders are watching are the SEC, the Fed, inflation, ETF regulation. That’s price-moving news,” Ben Cousens, a principal at the U.K. based venture capital firm Lakestar told Yahoo Finance.
An owner of bitcoin himself, Cousens said bitcoin's price volatility has made the last few months what those who are dyed-in-the-wool bitcoin investors call a “stackers paradise.” “Throughout this volatile period, longtime holders [of BTC] have just been accumulating. That typically results in a supply-squeeze which looks like what we’re seeing,” he said.
Bitcoin is also benefiting from an increased focus on regulation, according to a number of sources.
During a period of increasing scrutiny of the crypto sector, bitcoin – as risky as it might be – has broken out as one of the safest crypto assets in the case of a clampdown.
Speaking Wednesday before the U.S. House Committee on Financial Services, Securities and Exchange Commission Chair Gary Gensler reiterated his belief that the crypto sector needs to be more heavily regulated. Gensler said most cryptocurrencies aren't currencies but investment vehicles that should be overseen by U.S. securities law.
“It's unlikely that 5 or 6,000 forms of private currency are going to persist. Economic history tells us that's unlikely,” Gensler said in his testimony. “So a lot of these are not really currencies. They're not being used to buy a cup of coffee at Starbucks... Most of them are investment vehicles, ways to raise money for entrepreneurs in the U.S."
However, Gensler did say a handful of crypto assets “might be competing with gold or silver,” representing a “digital speculative store of value as gold is a speculative store of value over the centuries.” Gensler's statement follows precedent laid out before him by the SEC under former Chairman Jay Clayton which ruled that bitcoin and ether, the cryptocurrency that fuels the Ethereum network, aren't securities.
Looking forward, Gensler and other U.S. regulators such as the Treasury Department and Federal Reserve, seek to layout more comprehensive regulation around stablecoins at the issuer and platform level. While regulation of stablecoins may not appear to directly impact the price of bitcoin and ether, there could be knock-on effects for the broader crypto market in the near-term if stablecoins see tighter regulation.
For one, it would reduce liquidity, according to Eswar Parsad, economics professor at Cornell University and author of "The Future of Money." "Such regulations might be seen as the leading edge of a broader regulatory crackdown on cryptocurrencies and crypto assets," said Parsad.
"It will halt some trading flows, assuming people don't switch to other algorithmic [stable]coins," said Gina Pieters, assistant professor at the University of Chicago who has researched stablecoins. Most often pegged at a 1:1 ratio with the U.S. dollar, more active crypto traders often use stablecoins as a way to get in and out of other non-pegged cryptocurrencies like bitcoin during periods of high volatility.
While regulation could reduce investor exposure to stablecoins and halt trading flows, at least temporarily, bitcoin's divergence from the S&P 500 might also mean investors again see it as a safe haven.
At a $1 trillion market cap, bitcoin is most often likened to "digital gold." Gold carries a market capitalization of $10 trillion. For bitcoin to equal that size, it would need to reach $500,000.
David Hollerith covers cryptocurrency for Yahoo Finance. Follow him@dshollers.
Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,LinkedIn,YouTube, andreddit || The Morning After: The next iPhone may focus on display upgrades: As summer comes to a close, for the tech launch calendar we’re getting intonew iPhone season. Before we even know, officially, what Apple will reveal, the question I’m always asked by friends, family and readers returns: Is it worth upgrading to the new iPhone?
I don’t know yet. Hah. The rumors, however, converge on hardware changes to the iPhone screen, which will probably arrive in the same sizes we saw on the iPhone 12 series. — something noted inBloomberg’s latest report.
We might get always-on screen tech, utilizing a battery-efficient 120Hz display that should look smooth, while offering information and notifications on a lock screen without having to wake the iPhone up. Otherwise, so far at least, we expecting refinements to software-based camera features, a (predictably) faster mobile chip and perhaps stronger MagSafe magnets to keep your peripherals locked on.
We’ll have to wait and see how much the rumors get right — will Apple call it the iPhone 13?
Before all that, however, it's Samsung's day in the spotlight. Its Galaxy Unpacked event kicks off later this morning. We'll be streaming the full event, with analysis right after it wraps. It all kicks off at 9:40AM ET — join us on YouTuberight here.
-Mat Smith
Xiaomi has today announced the CyberDog, an open-source quadruped robot intended for developers to “build upon” and create applications for. Xiaomi says that this technology is good enough to enable CyberDog to follow its owner and navigate around obstacles. It is also capable of identifying posture and tracking human faces, enabling it to pick out and track individuals in a group. The path to mainstream robotics is paved with ‘dogs’ and humanoids that didn’t quite work out and for now, rather than selling this as a general-sale product, the company will produce 1,000 Cyberdogs for “Xiaomi fans, engineers and robotics enthusiasts.”Continue reading.
AMC announced that it will accept Bitcoin as payment for tickets and snacks at all US theaters by the end of 2021. Company chief Adam Aron didn't say how you'd make those payments, but he did hint that AMC was also researching other ways it could join the "burgeoning cryptocurrency universe."Continue reading.
Google is streamlining its security key family. The search giant will now only offer two editions; one with USB-A and USB-C, both of which will pack NFC to enable it to be used by most mobile devices. That should reduce any confusion that would-be purchasers had with the current lineup, where some models didn’t work contactlessly.Continue reading
If it’s not robot dogs, it’s another smartphone. The Mi Mix 4 is Xiaomi’s slimmest ceramic unibody smartphone yet, with a 6.67-inch 2,400 x 1,080 screen that hides a 20-megapixel selfie camera underneath the glass. Notably, the patch that hides the camera has the same 400ppi density as the rest of the panel, albeit with smaller pixels and transparent circuitry. In-screen cameras usually offer sub-par photos and often stand out from the rest of the smartphone screen, due to reduced pixel density. Xiaomi might have solved that issue, but we’ll have to see it in person to confirm. It’s the dawn of hidden selfie cameras, and Xiaomi and Oppo are leading the pack.Continue reading.
The New York City Police Department has spent over $159 million on surveillance systems and maintenance since 2007 without public oversight, according to newly released documents. As reported byWired, The Legal Aid Society (LAS) and the Surveillance Technology Oversight Project (STOP) obtained the documents from the NYPD, which include contracts with vendors.
The NYPD made the purchases through a Special Expenses Fund, which meant it didn't need to gain the approval of the NYC Council or other city officials before signing the contracts.Continue reading.
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Facebook caught a marketing firm paying influencers to criticize COVID-19 vaccines || Carbon-Negative Bitcoin ETF to Launch by Accelerate Financial Technologies: BeInCrypto –
Canadian ETF product provider Accelerate Financial Technologies Inc. has announced plans to debut a carbon-negative Bitcoin exchange-traded fund (ETF).
Accelerate Financial Technologies plans to launch a carbon-negative BTC exchange-traded fund will be accomplished by the act of planting trees.Accelerate saysit will plant enough trees to sufficiently offset the negative impact that cryptocurrency mining has on the environment.
Environmentally-friendly bitcoin ETF
The Calgary-based company pledged to plant around 3,500 trees for every C$1 million invented into its new carbon-negative BTC ETF.ETFs were recently approved by the Canadian government, but, not by the United States as of this writing. The company estimates that 1,000 tons of carbon dioxide will be offset for each million spent.
This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto || MicroStrategy: Michael Saylor reveals further 3,907 BTC purchase: MicroStrategy Inc, the Virginia based software company led by vocal Bitcoin maximalist CEO Michael Saylor, has invested a further $177m with a purchase of 3,907 BTC. This is the latest of a series of huge purchases made by the firm over the course of 2021. In Saylor’s twitter announcement, he revealed the firm was now holding 108,922 BTC (valued at around $2.9Bn) – with an average buy-in cost of $26,769. MicroStrategy has purchased an additional 3,907 bitcoins for ~$177 million in cash at an average price of ~$45,294 per #bitcoin . As of 8/23/21 we #hodl ~108,992 bitcoins acquired for ~$2.918 billion at an average price of ~$26,769 per bitcoin. $MSTR https://t.co/8jUlJImJbO — Michael Saylor⚡️ (@michael_saylor) August 24, 2021 The firm now holds more Bitcoin than any other publicly listed company in the world. The news, however, was not entirely unexpected with the tweet confirming Saylor has kept to his commitments to buy more Bitcoin as made in his Q2 Microstrategy earnings report . Earlier this year, Microstrategy embarked on a sequence of Bitcoin purchases. First Saylor announced a senior secured debt – followed quickly by the firm launch the world’s first BTC bond – a stunt which successfully delivered a goal-breaking $500m capital raise. The CEO then turned to equity financing in a third capital raise move which saw the firm file for a $1bn stock listing with the SEC. Saylor has the crypto community divided over his Bitcoin maximalist philosophy which rests on the idea that Bitcoin is the best preserve of wealth. Story continues The death-or-glory figure has been called by some ‘the Michael Burry of our time’, in a reference to the trader at the heart of the Big Short film. The trading premium of MicroStrategy is seen as a flag by some bearish analysts – a signal of overvaluation. The BTC accumulation exposes MicroStrategy to huge risk of insolvency if the price of BTC downturns heavily. Saylor argues that the premium is bullish and justified by the company’s ability to raise capital and debt with zero-interest as well as large-scale purchases of BTC. MicroStrategy remain active in the enterprise software space and this allows them to raise large debts. 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. || FOREX-Dollar tracks U.S. yields higher, hits one-week top ahead of ECB: * Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
By Ritvik Carvalho
LONDON, Sept 8 (Reuters) - The dollar rose to a one-week peak against peers on Wednesday, buoyed by higher Treasury yields and a weaker euro a day ahead of a European Central Bank policy decision.
The dollar index, which measures the currency against six rivals, traded 0.1% higher at 92.628 after earlier touching 92.655, a level not hit since Sept. 1.
The euro also traded 0.1% lower at $1.1831 after hitting $1.1828, its lowest since Sept. 1.
Helped by higher U.S. yields, the greenback also hit a 3-1/2 week high of 110.45 yen before retreating to 110.22 yen .
The benchmark 10-year Treasury note rose as high as 1.385% on Tuesday, its highest since mid-July and a climb of almost 6 basis points from Friday's close. Monday was a U.S. holiday.
"We've seen the dollar move in lockstep higher with U.S. yields since markets have returned from the Labor Day holiday. The focus now turns to key central bank meetings - with the ECB tomorrow and the Fed later this month," said Viraj Patel, global FX and macro strategist at Vanda Research.
"Whilst we've seen a dovish Fed reaction since Jackson Hole (and fuelled by last week's soft jobs report), the risks are that markets may be underestimating the odds of a hawkish September FOMC (Federal Open Markets Committee)."
The dollar index tumbled to its lowest levels since early August at the end of last week, when a surprisingly soft U.S. payrolls report prompted speculation the Federal Reserve will forgo announcing a taper of its stimulus at this month's policy meeting.
At the same time, strong wage growth warned of the potential for inflationary pressures to grow.
This week's dollar strength appears to be the result of a shift in investor focus to wage growth, which "suggests that the Fed may stick with its tapering plan," Ken Cheung, a strategist at Mizuho Bank in Hong Kong, wrote in a report.
"We look for further upside for the USD."
However, the surge in COVID-19 deaths in the United States could give the central bank pause. Reuters data shows that more than 20,800 people died from the virus in the past two weeks, up about two-thirds from the prior comparable period. President Joe Biden will outline a plan to tackle the highly contagious Delta variant on Thursday.
Investors will look to a speech by New York Fed President John Williams later on Wednesday for any hints on whether the labour market is still on the Fed's stated path of "substantial further progress" needed for a taper.
St. Louis Fed president James Bullard told the Financial Times that the central bank should go forward with a plan to start trimming stimulus this year despite the jobs slowdown last month.
"Risk aversion in the air alongside the move up in UST yields have helped the USD extend its post-payrolls recovery," Rodrigo Catril, a senior foreign-exchange strategist at National Australia Bank, wrote in a client note.
"Investors are wary of the ECB meeting on Thursday, anticipating a potential trim to the PEPP (Pandemic Emergency Purchase Programme) bond-buying pace."
Analysts polled by Reuters see PEPP purchases falling possibly as low as 60 billion euros a month from the current 80 billion, before a further fall early next year and the scheme's end in March.
Elsewhere, the Reserve Bank of Australia's decision on Tuesday to forge ahead with a taper of bond purchases while adding the dovish concession of extending the programme to February, helped undermine the Aussie dollar. It slipped 0.3% to $0.7366 on Wednesday, extending the previous session's 0.7% slide.
Canada's loonie was 0.2% lower at C$1.2674 per greenback after tumbling about 0.9% overnight.
Lower oil prices weighed, while investors anticipate a dovish narrative from the Bank of Canada's policy meeting later Wednesday following an unexpected economic contraction last quarter, NAB's Catril said.
Meanwhile, cryptocurrencies struggled to rebound from hefty losses overnight, when several trading platforms said they experienced performance issues, although it was not clear if these were a contributor to, or a result of, the volatility.
Bitcoin slipped 3% to around $45,300 after sinking as low as $42,900.01 on Tuesday. Earlier that day it had touched an almost four-month high of $52,956.47.
(Reporting by Ritvik Carvalho; additional reporting by Kevin Buckland in Tokyo; editing by John Stonestreet) || Japanese Brokerage Nomura Lets Users Trade Crypto Tokens For Pizza And Pasta: Report: Japanese financial services giantNomura Holdings Inc(OTCMKTS: NRSCF) is facilitating the use of blockchain-based security tokens to buy and trade luxurious Italian dishes as their value fluctuates.
What Happened:According to a report fromThe Japan Times, an affiliate of Nomura Holdings began selling these security tokens for four high-end food parcels a year from award-winning Japanese chef Masayuki Okuda.
Okuda’s curated menu includes pumpkin ravioli, corn and chicken tortellini, and asparagus pizza.
Subscriptions for the service cost 60,000 yen or a little over $540 dollars. Those that own these security tokens will be able to trade them and purchase the exclusive items on the menu beginning next year.
Nomura said it expects the market for security tokens to grow after these blockchain-based assets become more widely accepted globally.
What Else:Last year, Nomura introduced Japan’s first bond offering leveraging blockchain technology through its “ibet” platform.
The offering comprised two bonds: a digital asset bond and a digital bond. The digital asset bond was sold directly to investors by NRI, while Nomura Securities underwrote the digital bond.
“On the investor side, since return on bond investments has been limited to money in the past, having a wider range of return options may serve as an incentive for them to hold bonds for a long period,” saidHiroshi Yamadafrom Nomura’s capital markets department.
“For issuers, depending on the nature of the return, it is possible to reduce funding costs. This will encourage investors to hold bonds for a longer period of time and lead to more stable corporate bond prices in the secondary market,” he added.
Read next:Cuba Reportedly Looks Into Recognizing Crypto On National Level
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || JPMorgan Says Institutional Investors Are Replacing Gold With Bitcoin: “Bitcoin’s allure as an inflation hedge” is drawing institutional investors back to the crypto market, JPMorgan’s Nikolaos Panigirtzoglou wrote in an Oct. 6 research note to clients. “There are tentative signs that the previous shift away from gold into bitcoin seen during most of Q4 2020 and the beginning of 2021 has started reemerging in recent weeks,” he said. Bitcoin prices have surged above $50,000 recently, climbing 85% this year. The price of ether, the native currency of the Ethereum blockchain, has rose 393% year to date. Meanwhile, gold prices are hovering below $1,800 per ounce, falling 6.5% in 2021. Panigirtzoglou pointed to “the failure of gold to respond in recent weeks to heightened concerns over inflation” as a possible driver of the return to bitcoin. Gold is often seen by investors as a hedge against inflation due to the perception it protects purchasing power and the ability to provide defense during market turmoils. Read more: Institutional Investors Preferring Ether Over Bitcoin Now: JPMorgan || Ethereum: All You Need To Know To Decide If This Crypto Is Worth the Investment: BackyardProduction / iStock.com Cryptocurrencies have skyrocketed in popularity recently and this trend shows no signs of slowing. Given all the talk around these digital assets, you might be wondering whether now is the time to invest. But before pulling the trigger, its always a good idea to have an understanding of the underlying asset . Cryptocurrency is no exception and it is quite different than investing in stocks or bonds. Find Out: Where Does Cryptocurrency Come From? Binance Coin (BNB): Why Its So Interesting to the Cryptocurrency World Therefore, we will cover a popular blockchain technology called Ethereum (ETH). Like many blockchains, Ethereum has a native coin called ether. Lets take a closer look at what Ethereum is and whether you should consider investing. Read: Dogecoin: Is It a Worthwhile Investment? What Is Ethereum? Ethereum is an open-source, decentralized blockchain technology . Ethereums native coin is called ether. This coin is one of the largest cryptocurrencies by market capitalization, second only to Bitcoin (BTC). Although ether has a smaller market cap than Bitcoin, Ethereum is the most widely-used blockchain. See: What Is Chainlink and Why Is It Important in the World of Cryptocurrency? One thing that is important to understand about Ethereum is that it is not the same as Bitcoin. Whereas Bitcoins purpose is primarily to be a digital currency, Ethereum is much broader. In fact, Ethereum is an open-source operating system and computing platform. It also supports distributed applications (dApps) and smart contracts. Another key aspect of Ethereum is that it enables decentralized finance, which is an important part of how the system works. Because the system is inherently decentralized, there is not a single entity controlling it or the value of ether. More: How the IRS Taxes Cryptocurrency and the Loophole That Can Lower Your Tax Bill What Is Ethereum Worth? Like many cryptocurrencies, the price of ether has fluctuated greatly since it launched in 2015. Back then, its price was around $1 and stayed there for several months. The price reached $1,358 in January 2018, its highest price ever at the time. The price began to fall, as did the price of many cryptocurrencies; ether bottomed out at $83 in December 2018. Story continues The price has ebbed and flowed since then but has risen overall. At the beginning of April 2020, the price was around $140; and as of May 18, it is at around $3,349, according to Coindesk. Thats a pretty hefty increase in just over a year. However, its since gone down to $1,848, as of June 25. Read: Breaking Down the Basics of Cryptocurrency Should You Invest In Ethereum? If you decide to invest in ether (and therefore, in Ethereum), you should first ask yourself why you are investing. Although the price of the coin has risen substantially over the past year, it can be extremely volatile. Thus, if you buy ether simply hoping the price will rise, you may end up frustrated. On the other hand, the Etherum blockchain can be used for many different applications, said Tally Greenberg, head of business development at Allnodes. Ether is the cryptocurrency required for any transaction made on Ethereum, a blockchain network of applications. A blockchain, on the other hand, is a technology with limitless potential. It doesnt rest on Ethereum alone and can be used to make a difference in our future with or without cryptocurrencies. See: 10 Best Cryptocurrencies To Invest in for 2021 Sam Bretzmann, the owner of Blocklink , agrees with this sentiment. The difference here is that instead of investing in individual projects which may or may not make it, you can invest in the infrastructure. You can think about it like this, go back to 1999, and instead of having to try and pick which up and coming businesses will survive, you get to just pick the internet and invest in that. 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 Dont 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: May 25, 2021 This article originally appeared on GOBankingRates.com : Ethereum: All You Need To Know To Decide If This Crypto Is Worth the Investment
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 54968.22, 54771.58, 57484.79, 56041.06, 57401.10, 57321.52, 61593.95, 60892.18, 61553.62, 62026.08
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2015-06-09]
BTC Price: 229.05, BTC RSI: 46.60
Gold Price: 1177.30, Gold RSI: 42.77
Oil Price: 60.14, Oil RSI: 54.99
[Random Sample of News (last 60 days)]
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.” || Microelectronics Plans Expansion Through Reduced Electrical Expense: MONARCH BAY, CA / ACCESSWIRE / May 29, 2015 / Microelectronics Technology Company ( MELY ) announces pending planned expansion in its Bitcoin server mining operation. The Company is moving forward in the next phase of its planned expansion of its Bitcoin mining operation, as it has entered into a letter of intent to acquire electricity at the lowest price available to a bitcoin mining operation in the United States. The letter of intent outlines up to 10 Mega Watts of electrical power dedicated specifically to the needs of Microelectronics Technology Company. The electrical rate for this power averages 2 cents per kilowatt, the lowest rate in the Country. The electrical provider rates reliability of the electrical power at 99.99%. "With this amount of electrical power available to the Company we can now move forward with our expansion plans of a site designed and constructed with a bitcoin mining operation in mind," stated Brett Everett, President of the Company. "With the new chip technology coming to the market, this also increases the amount of Hash Rate the Company can run with 10 Mega Watts of electrical power, providing us with some very unique options." The timing for finalization for delivery of the contract for the power is June 16, 2015 in accordance with the terms outlined in the Letter of Intent. 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. Story continues 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 Everett 888-681-9777 ext. 5 [email protected] www.melypk.com SOURCE: Microelectronics Technology Company || 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. || Social Security Depletion Coming Sooner Than Expected: While it comes as no surprise that the health of Social Security as we currently know it is less than ideal, the publicized estimates of when Social Security funds will run out are "grossly overestimated," said Baton Investing's Jim Shahen, referencing recent Dartmouth and Harvard studies. The original prediction for SS depletion has been cited by the Social Security Administration to occur in 2033. Unfortunately, the studies present compelling evidence that the insolvency will happen long before then, with 20 years from now being an unlikely longevity expectation. The studies circulate evidence that not only are the estimates misjudged, but the implications are devastating for Americans particularly baby boomers, Gen-Xers and Millennials and the errors performed by the SSA are increasing in severity. Forecasting Errors: SSA Continues To Dig Its Own Grave According to Gary King , Albert J. Weatherhead III University Professor at Harvard and researcher on these studies, forecasting errors by the SSA have been around for years, but the prevalence of these errors and their severity has grown exponentially within the last decade and a half. In fact, 90+ percent of the numbers evaluated were found to be "overwhelmed by forecast uncertainty." Related Link: Unanticipated Life Events Cost Americans .5 Trillion In Lost Savings "We show that SSA's forecasting errors were approximately unbiased until about 2000, but then began to grow quickly, with increasingly overconfident uncertainty intervals," King stated. "Moreover, the errors all turn out to be in the same potentially dangerous direction, each making the Social Security Trust Funds look healthier than they actually are." In discussing why such dangerous oversights occur, King revealed that the "SSA's actuaries hunkered down trying hard to insulate themselves from the intense political pressures," which ultimately "led them to also miss important changes in the input data such as retirees living longer lives, and drawing more benefits." Story continues Broad Implications It is important to realize why these circulated overestimates matter. These inaccurately/incompletely calculated figures are used by the SSA's Office of the Chief Actuary to evaluate policy proposals. With less-than-ideal numbers to work with, which King and his fellow researchers have shown to be consistently used as the sole basis for policy evaluations, the assessments are misguided at best and " counterfactual " at worst. "Reliance on such forecasts led policymakers and other uses of the forecasts to conclude that the Social Security Trust Funds were on firmer financial ground than actually turned out to be the case," the initial study revealed . Related Link: 3 Retirement Tips To Consider In "The Era Of Personal Responsibility" Those Who Will Be Hit Hardest Based upon the studies' conclusions, Shahen speculated that "this news hits three groups hard: Millenials [ sic. ], Baby Boomers and Generation X." Due to the minimal funds Millennials are putting aside for retirement, the inadequate savings Baby Boomers have and the unexpected extraneous expenses (taking care of aging parents, astronomical student loans and their own separate retirement funds) Gen Xers are exposed to, these three groups are heading toward practically unavoidable financial hardship. Related Link: 4 Financial Pitfalls Fooling Millennials However, Baton's CEO Phil Ash stated that although "we've all known for some time that we won't be able to count on social security" and the new data compounds the sentiment, he said, "There are three smart things you can do to make sure you have put enough money away, protect yourself, and ensure you are prepared or retirement." According to Ash, these three steps include: 1. Knowing your specific retirement needs. "Eighty-five percent of people underestimate their retirement needs," Ash explained, couple that with the underestimates purported by the SSA and that spells significant financial trouble. 2. Using a safety and growth strategy. 3. Understanding the power of better returns. In light of this recent data, Ash concludes that "while people should be concerned about how much they're saving, the real key to retirement success and what makes hundreds of thousands or even millions of dollars of difference is in the actual return you're getting on your investments. Most advisors push the conventional wisdom that an 8 percent return is good'. The fact is it's not good enough and probably won't help you reach your goals." Therefore, invest in yourself by educating yourself, take an interest in the larger financial picture and take the steps necessary to protect your future and the future of your loved ones. Image Credit: Public Domain See more from Benzinga The Cost Of Cybercrime: .1 Trillion By 2019 There's A New Robo-Advisor In Town Bitcoin 101 © 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 MoreAfter-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.
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• Personal Finance || Coinbase opens bitcoin exchange in UK: April 28 (Reuters) - Bitcoin payment processor Coinbase opened an exchange and online wallet service in the UK on Tuesday, allowing people to convert sterling into bitcoin. Expanding to the UK will make it easier to access bitcoin in one of the financial capitals of the world, San Francisco-based Coinbase said in a blog on its website. Last month, Britain took a significant step towards becoming a global bitcoin hub as the government announced it would regulate digital currencies for the first time by applying anti-money laundering rules to exchanges. Earlier this year, Coinbase raised $75 million from several major financial institutions, including the New York Stock Exchange, USAA Bank and Spanish banking group BBVA . Aside from processing bitcoin payments, Coinbase also provides wallet services for holders of the digital currency. (Reporting by Supriya Kurane in Bengaluru; Editing by Cynthia Osterman) || 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 [email protected].
For more information about us, please visithttp://nxt.org
Contact Info:
Name: Bas Wisselink, Nxt Foundation DirectorEmail:[email protected]: NXTPhone: +31 (0)6 13937762Video URL:https://vimeo.com/127270358
SOURCE:NXT || Getting mobile with Bitcoin: This article, Getting mobile with Bitcoin , originally appeared on TechRepublic.com . If you haven't heard of Bitcoin, you might be living on another planet. It's a cryptographic-based currency which isn't actually printed or minted but exists solely in electronic (digital) form. The advantages to Bitcoin are that it is internationally-based (no currency exchange or other fees) and used, it is not subject to laws or regulation from one individual entity, and it can purchase goods or services from businesses and fellow consumers. Bitcoins can be converted into any local currency via exchange rates (at the time of this writing one bitcoin is worth $237.47 in U.S. dollars). You can even generate your own bitcoins through a process called "mining" whereby special high-speed computer systems run software to verify a set of bitcoin transactions (known as a "blockchain"). The more work these systems contribute to this effort, the more bitcoins can be earned (however there is a finite number of bitcoins that the world can generate; approximately 21 million). Bitcoins are generally stored in and utilized by an application or mobile wallet. Two such examples are Bitcoin Wallet for Android and Bither for iOS , either of which can be used to obtain, use, sell and track Bitcoins: figurea.jpg Image: Google Play The concept of Bitcoin Wallet is the same as any other mobile payment system; Bitcoins are accessed via a centralized account (not actually stored on the device per se, meaning your device isn't required nor must be powered up for someone to send you Bitcoins). The app is just a front end to manage the Bitcoins. As it enters its sixth year of existence, the Bitcoin has rolled forward with steady momentum and its popularity continues to grow. As is usually the case with technological advancements, new possibilities are also arising for those savvy enough to stay ahead of the curve. Entire industries are springing up around Bitcoin and one such example involves a merger between two companies called The Bitcoin Shop and Spondoolies-Tech. Story continues The Bitcoin Shop (aka "BTCS") provides Bitcoin (and other digital currency) transaction verification services. It's goal is to build a universal platform for digital currency to provide a single point of access for users to engage in their ecosystem. Consequently, BTCS is investing $1.5m in a transaction verification server manufacturer named Spondoolies-Tech Ltd (aka "Spondoolies"). The motivation behind the merger is to "create the world's first publicly traded company to produce Bitcoin transaction verification equipment and deploy Bitcoin mining resources." I spoke with Charles Allen, CEO of BTCS to find out more about Bitcoin and the details of the BTCS-Spondoolies merger. Scott Matteson: "How do Bitcoin mobile apps work (specifically via Bitcoin Shop's context)?" Charles Allen: "Bitcoin Shop ("BTCS") does not currently have a mobile app. However many digital companies offer iPhone and Android compatible apps most of which are bitcoin wallets or price feeds." SM: "What is the advantage of Bitcoin over traditional currency?" CA: "There are many advantages of Bitcoin compared to fiat currency. Below are some key differentiators: Highly divisible compared to fiat currencies Globally transferable - e.g. in the current system, money can be sent around the world in a matter of days via wires but this is costly for small transactions and slow in today's age. With bitcoin, for example, one can send their bitcoins from anywhere (e.g., from the Japan to the U.S.) instantly for free. Scarce - the supply of bitcoin is predetermined so inflation is factored in. Not government issued - with fiat currencies in a fractional reserve system there is a real risk that a country will make poor decisions over time and devalue their currency." SM: "What security controls are in place to protect customers and vendors/suppliers/businesses (ties into the transaction verification equipment)?" CA: "Apart from sourcing servers and building our data center, customers / suppliers / vendors are not directly involved in the BTCS' operations so I'm not sure the question is relevant to our transaction verification services operations." SM: "Can you elaborate on what to expect from the Bitcoin Shop/Spondoolies merger?" CA: "The digital currency ecosystem is similar to the Internet in 1995, i.e. very few companies are generating revenue. As a combined company, we plan to build a fully integrated transaction verification services business, which will be our revenue and profit engine (similar to Google with advertising) as we explore and develop other blockchain technologies. Spondoolies recently announced 2014 revenue of $28 million, and we believe our fully integrated mining efforts should allow us as combined company to continue to grow revenue and earnings and capture additional margin. Further BTCS has an 83,000 square foot facility to expand mining operations into." SM: "What is the future of Bitcoin?" CA: "Bitcoin - and more importantly blockchain technologies - have the ability to fundamentally change the world in the same way the Internet did. The 'genie is out of the bottle' and it is likely not going away." SM: "Why are hackers/ransomware/cyber-criminals so interested in being paid in Bitcoin?" CA: "Bitcoin is essentially digital cash, and once you have it, you own it. The downside is that every transaction is recorded on the blockchain, so identities can be associated to public addresses, meaning owners of stolen bitcoins can be found. In the long run, bitcoin is a poor means for cybercrime, as there is a public ledger of who owns what." SM: "Can you elaborate a bit more on how BTCS performs transaction verification services?" CA: "Please watch video #1 and video #2 for the best details. BTCS runs ASIC servers (see video #1) in a repurposed 83,000 square foot manufacturing facility in NC - see video #3 (it is now filled with servers, so we are working on an updated video). 93% of our equipment is currently manufactured by Spondoolies." SM: "Can you also elaborate on the Spondoolies server product and how they are specifically tailored towards transaction verifications?" CA: "Currently we do not manufacture ASIC servers. Spondoolies is one of only 4-5 companies that manufacture ASICS servers. There are many companies that run data centers with ASIC servers but very few that manufacture them. The big competitors to Spondoolies are Bitmain, Bitfury, and KNC Miner. However, all of these companies are involved in the design, manufacturing and deployment of ASIC servers. Pre-merger, BTCS is engaged in the deployment of ASIC servers and not the design and manufacturing of them, while Spondoolies is engaged in the design and manufacturing of ASIC servers and not the deployment. As a merged entity, we will be fully integrated similar to Bitmain, Bitfury, and KNC Miner and be able to capture the margin on both sides. To put this in perspective, Spondoolies achieved $28m in revenue in 2014 and many of their customers have had a tremendous return on investment (depending on when they started and their cost structure)." SM: "Can you walk me (briefly) through how a transaction involving Bitcoin via BTCS will work at present? Same question for after the merger (if different)?" CA: "The transaction verification services process is not a business-to-consumer endeavor. We simply maintain the network and are rewarded by the network for doing so. Consumers / users of bitcoin never directly engage with us." SM: "Can you tell me a little more about blockchain technology and how it applies to BTCS? CA: "Bitcoin is based on blockchain technology ( see video #2). Many technologies are being built upon Bitcoin's blockchain and we are a participant in securing the blockchain through our transaction verification services business (or often referred to as mining). In our opinion, this is the core of the technology as well as the cash cow in the business. Many bitcoin companies are "pre-revenue" and will be for years to come. To draw a parallel, Google's cash cow is advertising, hence, they have yet to pollute the elegant and simplistic search interface. Yet they experiment with all sorts of other technologies many of which fail i.e. Glass, Answers, iGoogle, etc. and some that succeed i.e. Maps, Android etc. We believe as a merged company, fully integrated mining / transaction services will be our cash cow which catapults our business to the next level and allows us to venture into other Hopefully you've found this discussion engaging and it has helped advance your understanding of the Bitcoin environment. I'd like to thank Mr. Allen for the time he spent on the topic with me. See also: 5 Bitcoin and finance startups to watch from DEMO 2014 Pay with Bitcoin: 10 of the most interesting places to spend it 10 things you should know about Bitcoin and digital currencies 10 mobile payment systems you need to know || 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 [email protected] SOURCE: Bit-X Financial Corp View comments || 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:[email protected]: Corona
SOURCE:Corona
[Random Sample of Social Media Buzz (last 60 days)]
current #bitcoin price (winkdex) is $223.4, last changed Sun, 19 Apr 2015 02:45:00 GMT. queried at: 02:47:41 || Current price: 234.55$ $BTCUSD $btc #bitcoin 2015-05-05 04:00:07 EDT || $235.92 at 17:00 UTC [24h Range: $233.01 - $236.28 Volume: 5047 BTC] || Bitcoin traded at $238.03 USD on BTC-e at 06:00 PM Pacific Time || $219.00 at 02:30 UTC [24h Range: $218.45 - $231.67 Volume: 7308 BTC] || LIVE: Profit = $1,102.15 (29.50 %). BUY B16.78 @ $221.50 (#BTCe). SELL @ $230.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org || In the last 10 mins, there were arb opps spanning 21 exchange pair(s), yielding profits ranging between $0.00 and $883.23 #bitcoin #btc || buysellbitco.in #bitcoin price in INR, Buy : 14122.00 INR Sell : 13667.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || Current price of Bitcoin is $232.00. || current #bitcoin price (winkdex) is $219.73, last changed Mon, 27 Apr 2015 13:40:00 GMT. queried at: 13:42:59
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Trend: up || Prices: 228.80, 229.71, 229.98, 232.40, 233.54, 236.82, 250.90, 249.28, 249.01, 244.61
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Investors Set Sail With Cruise-Line Investments In 2016: 2015 proved to be a lucrative year for many cruise liners, as an improving economy and low fuel prices created the perfect conditions for a rebuilding year. Industry juggernaut Carnival Corp (NYSE: CCL ) saw its shares rise 19.43 percent over the course of the year, and Barron's sees the firm climbing another 20 percent this year, a sign that the industry can expect smooth waters ahead. Safety In The Water Carnival Corp has been touted as one of the safest plays in the cruise industry, because the company is the largest operator in the world. Carnival has ships in almost every body of water on the planet, operating popular names like Carnival Cruise Lines, Princess Cruises and Costa Cruises. Not only does the company have a massive brand appeal and staying power, but Carnival also pays out the heftiest dividend with a yield of 2.2 percent. Related Link: Barron's Picks And Pans: Carnival, Pandora, American Capital And More Expanding Into China Another reason the cruise industry is set to continue gaining through 2016 is the potential for expansion in China as cruise holidays gain popularity. For investors looking to play this angle, Royal Caribbean Cruises Ltd (NYSE: RCL ) or Norwegian Cruise Line Holdings Ltd (NASDAQ: NCLH ) could be smart plays. Royal Caribbean has proven to be popular among the Chinese population and has been pushing upscale ships with luxury rooms that have brought in a great deal of interest. Norwegian is a relatively new entrant into the Chinese market, but the firm has been able to learn from its peers who have already penetrated the market and by offering customers a tailored experience different from what European or North American customers prefer. Image Credit: Public Domain See more from Benzinga 4 CEOs With A Tough Year Ahead Ledger Fights For Bitcoin's Staying Power At CES 2016 Virtual Reality In 2016 © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || The Best Gift Cards for the Geeks on Your List: (Photo: Thinkstock.com) Gift cards might be the last refuge of scoundrels who cant be bothered to put any thought into the whole buying-and-wrapping process. But they can also be handy ways to get something for people whose interests you just dont understand. So if your gift list includes someone whos obsessed with technology of one sort or another, and you have no idea what shes talking about half the time, a gift card could be the perfect solution. But not just any card: You want one thats just right for your geeky giftee. Here are some suggestions. The generalists Of course, pretty much every big-name tech brand that sells anything online including Apple , Google , Microsoft sells gift cards of its own these days. Note that Apple cards occasionally go on sale at other retailers, allowing you to buy a $100 card for, say, $80. Its worth keeping an eye out for such bargains, as they come and go quickly. (Photo: Apple.com) If your recipient isnt so brand-specific, most of the major online retailers who sell electronics offer gift cards, too: Amazon ; Best Buy ; Walmart . Tech stores Then there are the technology specialists, retailers such as Crutchfield , Newegg , TigerDirect , who sell technology products and almost nothing else. One personal favorite in this bunch: B&H Photo , which began life as (yes) a camera store in Manhattan but has morphed into a smorgasbord of digital goodies of almost every kind, from computers and their accessories to tablets, smartphones, TVs, media players, and wearables, as well as a truly remarkable range of photo and video hardware. (Photo: B&H Photo) True specialists Then there are the true specialists: sites that focus on one particular type of technology or another. The Dynamism store, for example, specializes in 3D technology (in addition to notebooks and some other general tech stuff). Thinkgeek specializes in geek culture: Shopping for someone obsessed with Star Wars , Star Trek , Doctor Who , Minecraft, Marvel Comics, Game of Thrones , or pretty much any other nerdy franchise? This is your store. Story continues (Image: Thinkgeek.com) For gamers, consider a XBox Gift Card or a Playstation Store Cash Card . Have someone on your list who you dont want to see for a while? Get a Minecraft gift card : You buy a physical card at a retailer (including Target, Best Buy, even 7-11), then redeem it online for a downloadable copy of the Minecraft game. Your recipient wont resurface for months . Finally, two honorable mentions: Skype has gift cards , which you can give to loved ones who cant seem to stay in touch. And Gyft offers perhaps the geekiest offer of all: The mobile gift-card app works with Bitcoin . Dan Miller is an editor at Yahoo. He hardly ever gives anyone a gift card. || 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 from The 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 Buzz Goldman’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 Line As 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 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 JPMORGAN CHASE (JPM): Free Stock Analysis Report BARCLAY PLC-ADR (BCS): Free Stock Analysis Report GOLDMAN SACHS (GS): Free Stock Analysis Report BANK OF AMER CP (BAC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || 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 || Ledger Fights For Bitcoin's Staying Power At CES 2016: The Consumer Electronics Show in Las Vegas is a chance for electronics and technology firms to debut their latest offerings and future prospects. Everything from self-driving cars to mind-blowing virtual reality sets have made their debut at CES, and each year the show tends to set the tone for what kind of tech will be big in the coming year.
This year, bitcoin startupLedgeris keeping the cryptocurrency in the spotlight by hosting the only bitcoin startup booth at the event.
Physical Bitcoin Storage
Ledger created a hardware wallet product in 2015 that provides customers with a safe and secure way to store and use their bitcoins. Ledger takes some of the worry out of using bitcoin by giving users a physical way to store bitcoins – a lightweight smart card. They can then use a USB to make secure payments, and the company offers a simple backup system that provides users with a microchip and pin code encrypted system in case they lose their card.
Related Link:Can The Bitcoin Foundation Last?
This year, Ledger is planning to exhibit new offerings at CES including a new technology that will strengthen the security of online authentication by reducing the reliance on passwords.
Bitcoin's Year
Ledger's presence at CES suggests that although bitcoin had a rough year in 2015, the cryptocurrency isn't dead yet. Concerns about privacy and security have increased skepticism about cryptocurrencies, making it difficult for bitcoin firms to push mainstream approval. However, many believe that as security improves and more and more vendors open up to the possibility of bitcoin transactions, the public will get on board.
Image Credit: Public Domain
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© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || YOUR MONEY-Giving to charity gears up after a crisis: By Beth Pinsker
NEW YORK, Nov 30 (Reuters) - During the first two weeks after an earthquake hit Nepal in April, Fidelity Charitable sent out 4,400 grants totaling almost $5.3 million from donors using special charitable accounts called donor-advised funds at the Boston-based nonprofit associated with Fidelity Investments. Now a few months later, the total is up to 6,000 grants totaling $7.8 million.
Within hours of something bad happening around the globe - whether its a hurricane or a humanitarian crisis like the flow of refugees from Syria - people start calling places like Fidelity Charitable, to ask where their donations would be most useful.
In the philanthropic circles, motivating folks to give can be a costly and fickle marketing exercise. Donor-advised funds, which operate like mini-foundations, help to bridge the gap.
"What we know about individuals, when it comes to disasters, is that they are highly influenced by media coverage and by the type of disaster," said Bob Ottenhoff, president and chief executive officer of the Center for Disaster Philanthropy, a nonprofit based in Washington. "That is why so much money flows immediately after there is a certain type of disaster, and it dries up after a couple of days."
Individuals gave an estimated 72 percent of the $358.38 billion donated to charity in 2014, according to Giving USA, with the rest coming from foundations and corporations.
Donor-advised funds make up a very small but growing part of that individual pie, granting $12.5 billion in 2014, up from $9.7 billion in 2013, according to the National Philanthropic Trust, which operates a donor-advised fund. And overall assets held in those accounts rose to $70 billion from $58 billion.
At Fidelity Charitable, one of the largest providers, you will need $5,000 to open a donor-advised fund. Most of those who open accounts like these have planned giving on their minds - to their alma maters, religious organizations, health concerns or local communities. But account holders at Schwab Charitable, for instance, leave about 30 percent of their assets free to fund causes that come along.
"It's hard to know how many are pulling a credit card out and donating directly rather than using their donor-advised funds," said Kim Laughton, president of Schwab Charitable . "But I think they understand they can do it quickly through the fund. They can even grant from a cellphone, which is really nice."
The advantages of giving through a donor-advised fund are that the money can be set aside and noted on tax returns, but granted later. Also, the fund groups take care of much of the paperwork involved in a donation - especially helpful for non-cash gifts like stocks or even Bitcoin, at some organizations.
Donors should note, however, that brokerage management fees do apply to the accounts, as in regular investment accounts.
While Fidelity and Schwab send out email blasts and newsletter updates to their donor bases when a major disaster occurs, they worry about creating disaster-giving fatigue. This has made some other donor-advised funds very cautious about pushing out notices.
"We wait for donors to come to us, rather than becoming an annoying dinging to them," said Eileen Heisman, president and CEO of the National Philanthropic Trust.
All the funds are especially cautious about looking beyond the immediate emotional need to help when they select charities to highlight. That is what Fidelity tried to steer with its Nepal effort, said Elaine Martyn, vice president of the private donor group at Fidelity Charitable. While the website highlighted just a few charities to start, by the time those 6,000 grants were given out, they went to hundreds of different organizations like Doctors Without Borders, Save the Children and smaller ones that focused on eye health and animal welfare, many of which will be providing long-term support for rebuilding.
"Lot of donors want to give to the first responders, then they forget about it. There's a whole other set of organizations that are good at hanging in there," added Heisman.
Ottenhoff suggests breaking up gifts into two parts, one for immediate need and one for long-term building.
"It should be a time to take a moment of reflection - what do you want to accomplish? What organization can do it?" he said.
(Editing by Lauren Young and Jonathan Oatis) || Global Arena Holding Demonstrates Continued Growth: NEW YORK, NY--(Marketwired - Dec 2, 2015) - Global Arena Holding, Inc. (OTC PINK:GAHC), (the "Company") announced today that it has released its quarterly report for the period ending September 30, 2015. During this quarter the Company's subsidiary, Global Election Services, Inc. ("GES"), continued to show strong revenue growth while the Company has taken first steps toward acquiring Blockchain Technologies Corporation.
Read the full 10Q:http://biz.yahoo.com/e/151123/gahc10-q.html
For the nine months ended September 30, 2014, the Company recognized sales revenue of approximately $619,633, contributing to total sales of $887,016. The increase in recognized revenue -- $565,646 compared to revenue for the nine months ended September 30, 2014 -- is principally due to the new business services of GES, which provides comprehensive technology-enabled election services primarily for organized labor associations. Overall however, the Company recorded a loss.
The Company CEO, John Matthews, said; "The losses in the third quarter are mainly due to the development of the Company through its subsidiaries. GES is currently the only operating company and it alone, at this time at least, cannot possibly support the current infrastructure. Higher than normal cost however, are attributed to professional fees concerning the due diligence and acquisition review of Blockchain Technologies Corporation."
Mr. Matthews continued; "Going forward, the elections company, GES, is on a pace to grow by over 50% and with the acquisition of Blockchain Technologies Corporation ("BTC"), it is our belief we will generate income from BTC's elections blockchain software, and that will give us the opportunity to increase profits further. The Company also will benefit from revenue generated from BTC when it provides technology to GES, which GES currently pays to 3rd party providers."
The Company is still in the process of completing its acquisition of Blockchain Technologies Corporation, which will bring with it several revenue producing companies and high potential patents. The losses this quarter are viewed as a temporary setback.
About Global Arena HoldingThe 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 StatementThe 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. || 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"}]
View More Analyst Ratings for AAPLView the Latest Analyst Ratings
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Record highs predicted for bitcoin in 2016 as new supply halves: By Jemima Kelly
LONDON (Reuters) - 2016 could prove to be the year that the price of bitcoin surges again. Not because of any dark-web drug-dealing or Russian ponzi scheme, but for an altogether less sensational reason - slower growth in the money supply.
Bitcoin is a web-based "cryptocurrency" used to move money around quickly and anonymously with no need for a central authority. But despite being championed by some as the digital money of the future, it is often dismissed as a currency that is too volatile to invest in.
The reason 2016 looks set to be different is that bitcoin's price is likely to be driven in large part by similar factors to a traditional fiat currency, following the age-old principles of supply and demand.
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 $11,000 (BTC=BTSP).
But when it was invented in 2008 by the mysterious "Satoshi Nakamoto", who has yet to be identified, the bitcoin program 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 2016.
Bitcoin was also designed to emulate a commodity by having a finite supply of 21 million bitcoins, which will be reached in around 125 years, up from around 15 million today. Hence, also, the use of the term "mining".
Daniel Masters, co-founder of Jersey-based Global Advisors' multi-million dollar bitcoin hedge fund, started his career as an oil trader at Shell in the mid-1980s and spent 30 years trading commodities before crossing over to bitcoin.
Now he reckons the price of bitcoin could test its 2013 highs of above $1,100 next year and then pick up speed to rise to $4,400 by the end of 2017.
That would be due to a number of factors, Masters said, including an increased acceptance of payments in bitcoin by big companies and authorities, rapidly growing interest and investment in the "blockchain" technology that underpins bitcoin transactions, and also more demand from China as its currency weakens and the economy slows.
But taken in isolation, the halving of the mining reward will increase the price of bitcoin by around 50 percent from where it is now, Masters reckons. That is despite the fact that the halving of the reward has always been inevitable - a factor that would already have been accounted for in pretty much every other market.
"If OPEC (Organization of the Petroleum Exporting Countries)came out tomorrow and said, 'in six months' time we're going to halve oil production', the oil price would instantaneously react. But the bitcoin market is still in its infancy, and I don't think that factor is discounted into the price fully," he said.
DECENTRALIZED DIGITAL ASSET
Bitcoin's price has already almost doubled in the last three months, putting it on track for its best quarter in two years. It hit $500 last month for the first time since August last year, with Chinese demand for a pyramid scheme set up by a Russian fraudster cited as a reason for the price surge.
But Bobby Lee, the chief executive of one of the leading bitcoin exchanges in China, BTCC, reckons there is scope for the cryptocurrency to go much further. He thinks the price could increase by as much as eight times in the time up to the reward halving, taking it as high as $3,500 by next summer.
"Today the worth of bitcoin is $1 per capita in the world (population)," Lee said, referring to the value of all the bitcoins in circulation, around $6.5 billion. "For such an innovative, decentralized digital asset, I say 'boy, are we undervaluing it'. But it takes a while for people to realize that."
The mining reward has already been halved once before, in November 2012, from 50 to 25 bitcoins. The stakes were much lower then, with one bitcoin worth around $12, but nevertheless the price increased by about 150 percent in the preceding seven months - roughly the time left before the next halving.
"It (the halving) dampens supply so, all other things being equal, that puts upwards pressure on price," said Jeremy Millar, partner at London-based financial technology specialists Magister Advisors, who expects demand to continue to increase.
"No one can argue with that fundamental economic principle."
(Editing by Greg Mahlich) || Mike Tyson Dives Deeper Into Bitcoin: Former boxing star Mike Tyson is deepening his interest in the bitcoin space by creating a digital bitcoin wallet that will allow users to store, purchase and sell the cryptocurrency. The wallet was developed by Bitcoin Direct in partnership with BitPay and will be one of the first wallets that allows users to buy and sell from inside the app.
Tyson's Bitcoin Projects
This is not Tyson's first foray into the bitcoin space. He partnered with Bitcoin Direct last year to launch a line of bitcoin ATMs that gave people the ability to turn cash into bitcoins at any machine's location. Now, with Tyson endorsing a wallet as well, many are wondering whether or not celebrity attention will drive mainstream usage.
The new wallet will feature Tyson's tribal face tattoo as the background image and is available for download on iOS. An Android version is expected to be released in the coming weeks.
Celebrity Appeal
Bitcoin Direct believes that Tyson's popularity around the world and across several generations makes him a good option to engage the masses,saying that his"potential to expand the Bitcoin market is dramatic." However, it remains unknown whether or not the power of celebrity will be enough to encourage new users.
Safety Still A Concern
Although celebrity endorsements often get products more notoriety, bitcoin itself has struggled with safety and security issues that some believe can't be overcome by a recognizable face. Tyson may bring more attention to the cryptocurrency community, but he may not be able to convince the public that it is trustworthy. Instead, many believe that more regulation is the real key to taking bitcoin mainstream as that would provide users with more protections.
Image credit:Eduardo Merille, Flickr
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© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
Bitstamp: $411.77/BTC - last trade of USD/BTC at https://www.bitstamp.net/ (high: 424.95, low: 400.00) #bitcoin #BTC http://bitcoinautotrade.com || LIVE: Profit = $304.41 (3.61 %). BUY B20.49 @ $420.00 (#VirCurex). SELL @ $426.83 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || $430.45 at 20:00 UTC [24h Range: $426.54 - $432.67 Volume: 5191 BTC] || In the last 10 mins, there were arb opps spanning 7 exchange pair(s), yielding profits ranging between $0.00 and $2.31 #bitcoin #btc || $325.81 at 10:00 UTC [24h Range: $324.00 - $328.94 Volume: 3193 BTC] || In the last 10 mins, there were arb opps spanning 20 exchange pair(s), yielding profits ranging between $0.00 and $640.24 #bitcoin #btc || Current price: 381.82€ $BTCEUR $btc #bitcoin 2015-12-26 15:00:04 CET || In the last 10 mins, there were arb opps spanning 17 exchange pair(s), yielding profits ranging between $0.00 and $341.39 #bitcoin #btc || BTCTurk 971.81 TL BTCe 326.663 $ CampBx $ BitStamp 331.16 $ Cavirtex 451.00 $ CEXIO $ Bitcoin.de 312.89 € #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
|
Trend: down || Prices: 448.43, 435.69, 432.37, 430.31, 364.33, 387.54, 382.30, 387.17, 380.15, 420.23
|
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)]
Bitcoin is flying after Donald Trump's victory: In May, a Juniper Research study (“Will Bitcoins Bite Back?“) predicted that the price of the digital currency bitcoin would jump if Donald Trump were elected. On Tuesday, Trump was elected, and bitcoin jumped. The currency is up nearly 3% since Tuesday night, hovering around $725.
“If Donald Trump becomes President of the US,” said Dr. Winslow Holdenin a statement with the study, “there is the very real prospect of turmoil on world markets… Bitcoin would thrive in such an environment.”
Bitcoin has in fact been on the rise all fall,not only because of the election. The price is up 19% in the last month, 23% in the last three months, and 68% in 2016. But in the next few days and perhaps months, the uncertainty after Trump’s win will likely serve as an accelerant.
Investors see bitcoin as a safe haven from fiat currencies (hence why it rises when the Chinese yuan falls), and an asset largely untied to mainstream markets. Gold typically behaves the same way, and indeed,gold shot up to $1,320 on Tuesday night as Trump closed in on the presidency, though it fell back to earth on Wednesday and is now at $1,275.
Bitcoin’s October rise has been mostly due to heightened activity in China, where the yuan is falling and the government has tightened capital controls. Bitcoin prices also spikedduring the bank shutdown in Greecelast year.
Juniper Research says the Brexit vote, back in June, is still having an impact as well: “The ongoing ramifications around Brexit are also likely to act as an additional spur for higher activity levels.”
IfBrexit helped contribute to a bitcoin bump, then Trump’s win is likely to do it, too. Many were quick to compare the surprising result of the US election to the EU referendum result. Trump, in the days before the election, told crowds that his win would be like “Brexit plus plus plus,” and nicknamed himself “Mr. Brexit.”
While Trump and bitcoin might seem to have something in common (Coin Telegraphmade the case that Trump would eventually cozy up to the coin), his campaign never accepted donations in bitcoin. Hillary Clinton’s campaign considered accepting donations in bitcoin, aleaked email thread revealed,but John Podesta was more intrigued by the digital currency Ven, writing that bitcoin suffers from a “libertarian Ayn Rand schtick.” Sen. Rand Paul and Gov. Gary Johnson were the only two presidential candidates to accept bitcoin.
It doesn’t matter now: Trump won, and bitcoin benefited without his support. The coin doesn’t need Trump to champion it in order to succeed.
The defining word of this US election is the same word that defined the Brexit vote: “uncertainty.” As the Juniper Research report noted, bitcoin’s price rose in the weeks leading up to the Brexit vote, then fell a little bit just before the vote when the outcome looked clear, then spiked when the outcome was, in fact, a big surprise. Expect the same to happen after Trump’s win.
—
Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at@readDanwrite.
Read more:
The latest bitcoin price surge isn’t just about Brexit
Here’s where big banks stand on blockchain
Why 21.co is the most exciting bitcoin company right now
Coinbase is more bullish on bitcoin than ever || 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.
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• Personal Finance || First Bitcoin Capital Corp Announces Appointment of Bitcoin Protocol Development Expert Patrick Dugan to the Company’s Board of Directors. Additional Developments Announced: VANCOUVER, B.C. / ACCESSWIRE / November 23, 2016 /First Bitcoin Capital Corp is pleased to announce that leading bitcoin protocol development expert in the crypto currency field Patrick Dugan has joined the company's Board of Directors.
A serial entrepreneur with several years of experience in blockchain, finance, ecommerce and game development, Mr. Dugan has extensive knowledge of complex securitization structures and trading strategies.
Mr. Dugan brings 9 years of trading experience, with over 3 years in cryptocurrency trading, averaging 50% annual returns. He served as a consultant on social game economics, and market making operations for exchanges.
Mr. Dugan has served for the last year and a half as operations manager for the Omni Layer Foundation (previously Mastercoin), and has been involved in the issuance of the world's first bearer bonds on the Bitcoin blockchain.
"Patrick Dugan is well known in the international crypto-currency space," the company said. "He brings a wealth of strategic experience in finance and blockchain business development. We look forward to his contributions as a member of our Board as we advance the development of the world’s first on-blockchain REIT offering."
Mrs. Dugan said he seeks to bring to First Bitcoin Capital his expertise in bitcoin and blockchain protocol and assist new or existing initiatives that plan to build upon and take advantage of the capabilities offered by the Omni Layer protocol. BITCF has thus far utilized the Omni Layer Protocol to launch 6 cryptocurrencies such as symbols, PRES, TESLA, HILL, GARY, BURN, and OTX.
Furthermore, in conjunction with BITCF expanding ownership of its common shares onto its own blockchain (BIT) and trading on foreign international cryptocurrency exchanges, the company invites its shareholders to exercise an option to convert their paper certificates into digital shares. Shareholders need only surrender their certificates with instruction to deliver those shares to the BIT wallet address they provide to the company.
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.BITCoinCapitalcorp.comcompany website.
www.CoinQX.comCryptocurrency Exchange, registered with FINCEN.
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 and $GARY $BURN coins.
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:[email protected] visithttp://www.bitcoincapitalcorp.com
SOURCE:First Bitcoin Capital Corp. || Dave Nadig's Deep Dive On New ETF Liquidity Rules: When the SEC published draft rules for mutual fund and ETF liquidity last year,I was less than complimentary. I pointed out that, for instance, virtually all corporate and high-yield bond ETFs would fail to meet the requirements on illiquid assets.
That rule issailing through(with some small changes) for mutual funds, but the press is reporting that ETFs got a pass. That’s not quite true.
Some BackgroundThe original proposal—and the current version—focused on all open-ended funds maintaining a liquidity risk management program with the intent to ensure that it could always meet shareholder redemptions in an orderly fashion.
It was a clear response—or convenient timing at least—to the shenanigans that happened to Third Avenue’s mutual fund in the summer of 2015, when it closed for redemptions because it couldn’t sell its junk bonds fast enough.
The original proposal received an enormous amount of industry commentary, and rather than publishing a revised rule for comment, the SEC simply published a final rule, which will go into effect for most funds in December 2018.
The key components of the final rule are threefold:
1. Rules that ensure a fund always have highly liquid securities to meet redemptions
2. Rules that ensure a fund doesn’t have more than 15% of its investments in illiquid investment
3. A reporting regime that has funds classify all of their positions at least monthly and report each security as belonging to one of four liquidity buckets (the two above and two in the middle)
Much of what the SEC requested was pretty noncontroversial; however, the ETF industry argued in its various comment letters that since ETFs meet redemptions generally by in-kind transfer of underlying securities, it should be exempt from large swaths of the program.
They got a small slice of what they wanted, and it will have significant implications.
What About The ETF Get-Out-of-Jail-Free Card?The SEC has defined for the first time a class of ETFs it refers to as “In-kind ETFs.” In-kind ETFs are those that use only a de minimis amount of cash in any redemption activity. The commission goes out of its way to say that it really means this: If you regularly use cash redemptions, you’re not covered here.
The second big issue is that, to qualify, you must publish your complete portfolio every single day—the same transparency standard the SEC has so far held actively managed ETFs to.
If you’re an in-kind ETF by this definition, you cansort ofavoid two components of the program: You don’t have to hold a bunch of highly liquid investments to meet redemptions, and you don’t have to classify all your portfolio holdings.
I say "sort of" because the wording of the final rule is, in my opinion, a bit different than the actual discussion of the rule in the SEC’s 400-page final rulemaking document. The actual rule simply says in-kind ETFs can consider the fact that they can redeem-out shares when drafting their liquidity risk management program. It doesn’t actually say in-kind ETFs are exempt from holding those highly liquid assets or that they don’t have to comply with the fairly onerous reporting process.
I imagine that will get cleared up and clarified, but it’s frustrating when the final rule doesn’t match the stated intent. But let’s assume that ETFs get at least a little relief there.
The Big Whammy: The 15% RuleSo what’s the big deal? The 15% illiquid cap is problematic. There’s an enormous amount of wiggle room in how to meet the assessment that a given position can be liquidated without significant impact in seven days, and all that wiggle room lands on the fund board to interpret.
The SEC discussion clearly shows that the commission understands it could be upsetting the apple cart, going so far as to say some funds will have to consider closing:
“In circumstances in which it appears unlikely that the fund will be able to reduce its illiquid investment holdings to or below 15% within a period of time commensurate with its redemption obligations, a fund’s periodic liquidity risk review could lead the fund to reconsider its continued operation as an open-end fund.”
So Who Could Get Hit Hardest Here?There are two groups that have an immediate problem. The first is ETFs that invest in less liquid securities. Funds that invest primarily in high-yield debt or bank loans may be able to argue that they can unload their whole portfolios without impact, but ultimately fund boards will have to decide how much risk they want to take in defining liberal interpretations of “illiquid.”
The second issue is large funds. Because there’s no scaling here, funds that are very large have a much higher burden than small funds. I can own 100 shares of the most illiquid microcap and probably claim correctly that I could find a buyer in week. Not so for a $100 billion fund trying to own a proportionally similar position in the same company.
This second issue is a big one, particularly for Vanguard.Vanguard’s ETFsare share classes of mutual funds. My assumption is that the root fund is what will have to make the test, not each individual share class, so it won’t get the pass on the reporting or highly liquid requirements. And Vanguard will be hit harder on the 15% illiquid cap than it would if its ETFs were in fact separate funds.
While most of Vanguard’s 70 ETFs are in highly liquid corners of the market, it’s possible that funds like theVanguard Small Cap Index Fund (VB)or theVanguard Short Term Corporate Bond Index Fund (VCSH)could face real hurdles. When I ran the volume numbers on VCSH holdings last year, I estimated that even swamping the market, it would take VCSH 16 days to trade out.
So without market impact, that’s probably a multiple—clearly a fund that probably won’t be in compliance without a pretty liberal interpretation of how the short-term corporate markets can absorb big sales.
Could Vanguard solve this problem? It would be tricky. It would need to spin the ETFs out and adopt full disclosure. That’s a lot of work to save a few funds. Then again, I’m not sure what the options are.
In the end, it does seem like ETFs dodged a BB here, if not a bullet, but the ripples from this earthquake will be felt for quite some time. I’m not suggesting we’ll see a huge raft of fund closures, but at a minimum, it’s a good year to be a lawyer advising fund boards.
At the time of writing, the author held no positions in the securities mentioned. Dave Nadig is the director of exchange-traded funds at FactSet Research Systems. You can reach him [email protected], or on Twitter @DaveNadig.
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Permalink| © Copyright 2016ETF.com.All rights reserved || PayPal is homing in on high-growth areas: PayPal Bank Chart (BII) This story was delivered to BI Intelligence " Payments Briefing " subscribers. To learn more and subscribe, please click here . PayPal posted strong results across 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 million of 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. Story continues 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 at BI Intelligence , Business Insider's premium research service, have compiled a detailed report on the payments ecosystem that drills into the industry to explain how a broad range of transactions are processed, including prepaid and store cards, as well as revealing which types of companies are in the best and worst position to capitalize on the latest industry trends. Here are some key takeaways from the report: 2016 will be a watershed year for the payments industry. Payments companies are improving security, expanding their mobile offerings, and building commerce capabilities that will give consumers a more compelling reason to make purchases using digital devices. Payments is an extremely complex industry. To understand the next big digital opportunity lies, it's critical to understand how the traditional credit- and debit-processing chain works and what roles acquirers, processors, issuing banks, card networks, independent sales organizations, gateways, and software and hardware providers play. Alternative technologies could disrupt the processing ecosystem. Devices ranging from refrigerators to smartwatches now feature payment capabilities, which will spur changes in consumer payment behaviors. Likewise, blockchain technology, the protocol that underlies Bitcoin, could one day change how consumer card payments are verified. In full, the report: Uncovers the key themes and trends affecting the payments industry in 2016 and beyond. Gives a detailed description of the stakeholders involved in a payment transaction, along with hardware and software providers. Offers diagrams and infographics explaining how card transactions are processed and which players are involved in each step. Provides charts on our latest forecasts, key company growth, survey results, and more. Analyzes the alternative technologies, including blockchain, which could further disrupt the ecosystem. To get your copy of this invaluable guide, choose one of these options: Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >> START A MEMBERSHIP Purchase the report and download it immediately from our research store. >> BUY THE REPORT The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the payments ecosystem. More From Business Insider THE MOBILE PAYMENTS REPORT: Market forecasts, consumer trends, and the barriers and benefits that will influence adoption THE CONNECTED DEVICE PAYMENTS REPORT: Market opportunities, top stakeholders, and new use cases for the next frontier in payments THE PAYMENTS INDUSTRY EXPLAINED: The trends creating new winners and losers in the card-processing ecosystem || 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. || Venezuelans are turning to bitcoin as the bolívar crumbles: Venezuelan bolivar banknotes and a U.S. dollar banknote folded as boats are seen at a fruit and vegetable store in Caracas Venezuelas currency has lost so much of its value that people have given up on counting the notesthey just weigh piles of cash . So far this year, the bolívar has lost nearly half its value compared to the dollar, while inflation has shot up as much as 15 times. Thats according to best estimates, since official data isnt available. Its brutal: Slack took out a full-page ad in the New York Times to welcome its new competitor, Microsoft When a national currency is tanking as badly as the bolívar, a stateless cryptocurrency thats gaining in value suddenly sounds pretty appealing. It looks like at least some Venezuelans are turning their bolívar into bitcoins to not only escape the spiral of devaluation in the state-issued, or fiat, currency, but to reap the profits of a bitcoin price thats been buoyant all year. Trading out of terminally weak or volatile fiat currencies for bitcoin isnt unique to Venezuela; Argentinians have been doing it for years , as the New York Times (paywall) has reported. Thinking of moving to Canada if Trump wins? Think again Trading volumes on LocalBitcoins essentially an online classifieds page for bitcoin buyers and sellers to find one anotherhave spiked in Venezuela. Trading volume has spiked recently to as high as 370 bitcoins a week, worth about $224,000 at the time. In the grand scheme of things, the bolívar-bitcoin trade is minuscule; trillions of dollars change hands on the worlds currency markets daily. Its also not an easy trade to execute, as a Venezuelan must know her way around bitcoin marketplaces and currency exchangesVenezuela has one major exchange, called Surbitcoin to cash out their bolívar. Once a Venezuelan user has bitcoin, however, she could hang onto the cryptocurrency, which might break past its highest point for the year, or hold it in US dollars or other currencies at a wallet service or on an exchange. One service, Xapo, founded by Argentinian entrepreneur Wences Casares, says its seeing a number of users in Venezuela heavily utilizing its app. Story continues Of course, caveats apply: Bitcoin exchanges and wallets are regularly hacked for billions . Xapo, incidentally, offers a vault option that involves air-gapped servers stored in secret underground locations not the worst way to wait out the bolívars downward spiral. Sign up for the Quartz Daily Brief , our free daily newsletter with the worlds most important and interesting news. More stories from Quartz: Steve Jobss worst decision was promoting Tim Cook Design has nothing to do with art: Design legend Milton Glaser dispels a universal misunderstanding || C&W Business Launches Hosted Collaboration Solution (HCS) on Demand at Cisco Live!: CANCUN, MEXICO--(Marketwired - Nov 7, 2016) -Cisco Live! --C&W Business, part ofC&W Communications(C&W), one of the largest full service communications and entertainment providers in the Caribbean and Latin America region, now owned byLiberty Global(LiLAC Group), is excited to announce the launch ofHosted Collaboration Solution (HCS) on Demand,a managed Unified Collaboration Service, atCisco Live!. Cisco Live is one of the main IT conferences in the Latin America region and is expected to draw more than 5,500 customers, experts and partners from different business segments and levels. Cisco Live! will be held from November 7-10 in Cancun, Mexico and C&W Business will be present atbooth #506showcasing live demos of its next-generation platform, HCS on Demand.
The launch of HCS on Demand, powered by Cisco, is a managed unified collaboration platform that will enable customers in 24 countries across the Caribbean and Latin America to leverage a full suite of IP-enabled collaboration tools. HCS on Demand will be hosted by C&W Business at their data centers and be delivered to customers over the Company's world-class, SIP-enabled fiber IP (terrestrial and submarine) and fault-tolerant network. This network encompasses over 42,000 kilometers (26,000 miles) of fiber across the Caribbean and Latin America and is the only MEF CE 2.0 certified network across the region, allowing C&W Business to deliver highly secure and reliable data, voice and video services efficiently to its customers.
"C&W Business HCS on Demand helps accelerate customers' day-to-day business processes, helping achieve better and faster business outcomes across the region. Customers won't have to worry about burdening their IT staff with the effort to deploy and operate their own PBX or UCC platform. Customers will only pay for what they need, with no upfront costs, making unified communications more affordable and the costs more predictable in a fixed monthly service charge per user," said Daniel Peiretti, SVP Product Development and Management, C&W Business. "Our HCS on Demand solution is secure, offers strong SLA's, and is supported by a business-class infrastructure with a certified team that uses a simplified deployment model. We will have customers up and running in no time, from anywhere, anytime and from any device," added Peiretti.
As a Cisco Master Managed Service Provider, C&W Business utilizes its highly secure and connected fabric of datacenters to deliver the most comprehensive, integrated solutions for clients. This crucial element enables clients to have a single point of contact, avoiding the challenge of managing multiple vendors. In addition, business applications and unified communication applications are hosted in the same datacenter significantly reducing latency and enhancing data security.
C&W Business HCS on Demand will offer customers:
• Voice and video communications, mobility, messaging, presence, web and video conferencing, and contact center.
• Access to cloud-based resources in a fast and easy way so customers can get up and running faster than with traditional models.
• Predictable per-user monthly costs without having to incur upfront capital expenditure investments.
• Ability to easily ramp up or down to address seasonal needs.
• Deployment of different license types to individuals across work groups or departments as required.
• Elimination of the costs and problems of equipment maintenance and software upgrades.
• Customers most likely to benefit from this solution are those with a need for enhanced remote worker integration, mobility, cost reduction, reduced travel cost, simplified user experience, accelerated decision making, improved customer service and better work-life balance for its employees.
In addition, existing Cisco collaboration customers can migrate their "on premises" solution into this cloud and maintain their investment in licensing.
Cisco Live! is the premier IT conference in Latin America -- which gathers customers, experts and partners from different industries, segments, and countries. Cisco Live! is held annually in four cities worldwide: Las Vegas, Berlin, Melbourne and Cancun. Learn more at#CiscoLiveLA
Visit C&W Business at Cisco Live!C&W Business will be an exhibitor atbooth #506duringCisco Live!,at the Moon Palace Golf & Spa Resort Cancun, Mexico. To learn about our technology-driven solutions that offer unique Cisco collaboration technologies using hosted and managed models. Meet our technology experts and join us for demo presentations on our solutions onNovember 9 from 10:30 am - 12:30 pmand onNovember 10 from 12:30 - 2:00 pmin the Cisco Powered booth.
NOTES TO EDITORSC&W Business To Offer Cisco Collaboration As A Service Over Its MPLS Networks
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. || 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. 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) || India's rupee restrictions are boosting demand for bitcoin: Indian Prime Minister Narendra Modi's decision to withdraw 500 and 1000 rupee notes from circulation has sparked interest in bitcoin among India's consumers.
Following last week's announcement thatthe notes were no longer legal tender, sales volumes for bitcoin increased on several exchanges for the digital currency, according to The Hindustan Times.
The announcement by the Indian government was an attempt to crackdown on corruption and "black money", but following the movement, internet searches for the term "buy bitcoin" increased in popularity, according to Google Trends data.
Other signs of increased interest include downloads of the smartphone app for bitcoin exchange Zebpay, which passed a threshold of 100,000 downloads.
"Queries for bitcoins have gone up by 20 percent to 30 percent in the past couple of days," Zebpay's CEO, Saurabh Agrawal, told the Hindustan Times.
As a result of the increased demand, the premium paid for rupee-denominated bitcoin has widened.
One bitcoin on the Indian exchange Unocoin is worth 55,405 rupees, or $817.97, at the time of writing. Dollar-denominated bitcoin currently costs around $709.
According to Charles Hayter, CEO and founder of Crypto Compare, the premium at the start of September was just $20, or around 3 percent.
"Bitcoin is a sanctuary in emerging markets where knee jerk policy reactions are commonplace - India's move on high value bank notes is just the latest in a string of poorly communicated & executed judgments," he told CNBC via email.
"Bitcoin was trading at a $20 dollar premium in India at the beginning of September and now is trading at a $70-100 premium to the USD rate."
One reason for the increased demand may be due to Indians who are frustrated by the government's decision and are now looking for a way to store their wealth that is (theoretically) out of Dehli's reach.
"The Indian rupee, like all other government currencies, is a fiat currency. It exists through the fiat - order - of the government," explained Jacob J, a writer for The CoinTelegraph.
"As seen in the recent instance, its existence can also be terminated through an order from the government. With the passage of time, Bitcoin's superiority as a currency is becoming more and more apparent."
India has been slow to start using digital currencies. The amount of bitcoin traded per day in India is a fraction of other countries, according to Linus Lindgren, strategic investor and advisor at BTCXIndia.
"I would estimate the average traded volume in India to be around 500btc/day, which is less than 1 percent, maybe even 0.1 percent, of global volumes," he told CNBC via email.
"We have certainly seen a larger interest than ever before in the last weeks, but in contrast to centralised systems, where money can be made worthless over night, a decentralised currency like bitcoin is opt-in, meaning that this revolution will come gradually as more and more people start seeing the benefits and switch."
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[Random Sample of Social Media Buzz (last 60 days)]
1 KOBO = 0.00000154 BTC
= 0.0011 USD
= 0.3344 NGN
= 0.0150 ZAR
= 0.1118 KES
#Kobocoin 2016-11-05 22:00 pic.twitter.com/ucA8B2RlkA || #ByteCoin #BCN $0.000050 (-4.00%) 0.00000007 BTC (-4.29%) || 1 #bitcoin = $12600.00 MXN | $665.5 USD #BitAPeso 1 USD = 18.93MXN http://www.bitapeso.com || #8BitCoin #8BIT $0.014639 (-0.05%) 0.00002293 BTC (0.00%) || Bitfinex to Hacker: Can We Have Our Bitcoin Back?: Bitfinex is now seeking to strike a deal with the hacker w... http://bit.ly/2eCmLqG || #UFOCoin #UFO $0.000007 (-0.26%) 0.00000001 BTC (-0.00%) || 26Nov2016 06:00 UTC #Bitcoin live spots - #XBTUSD @ 741.78000 $ - #XBTEUR @ 700.57650 € || 1 #BTC (#Bitcoin) quotes:
$771.20/$772.35 #Bitstamp
$766.00/$767.99 #BTCe
⇢$-6.35/$-3.21
$771.95/$779.86 #Coinbase
⇢$-0.40/$8.66 || 1 #bitcoin = $14156.00 MXN | $735.18 USD #BitAPeso 1 USD = 19.26MXN http://www.bitapeso.com || #UFOCoin #UFO $0.000007 (-0.85%) 0.00000001 BTC (-0.00%)
|
Trend: up || Prices: 769.73, 780.09, 780.56, 781.48, 778.09, 784.91, 790.83, 790.53, 792.71, 800.88
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2021-12-22]
BTC Price: 48628.51, BTC RSI: 43.99
Gold Price: 1801.60, Gold RSI: 53.13
Oil Price: 72.76, Oil RSI: 50.19
[Random Sample of News (last 60 days)]
Crypto startup MoonPay valued at $3.4 billion after latest funding round: (Reuters) - Cryptocurrency startup MoonPay has raised fresh capital from investors led by Tiger Global Management and hedge fund Coatue at a valuation of $3.4 billion, becoming the latest venture to capitalize on sky-high investor demand for rapidly growing companies in the sector. The company said on Monday it had raised $555 million in a Series A funding round that also saw participation from Blossom Capital, Thrive Capital, Paradigm and NEA. MoonPay's valuation comes as bitcoin, the largest and most popular cryptocurrency, is trading close to $60,000 per unit even though digital asset classes like it have come under global regulatory scrutiny for their potential use in money laundering. Several other companies in this space have also caught the fancy of investors this year. Crypto startup Gemini, led by internet entrepreneurs Cameron and Tyler Winklevoss, fetched a valuation of $7.1 billion last week. FTX Trading, a platform for buying and selling cryptocurrencies, was valued at $25 billion after a funding round last month. MoonPay, which is profitable, says it helps businesses transact digital assets quickly and smoothly. It also claims it had helped Bitcoin.com, a blockchain technology company, boost its revenue more than six-fold. The company said its technology for non-fungible tokens, unique crypto tokens that cannot be replicated, has also been used by NFT marketplace OpenSea. (Reporting by Mehnaz Yasmin and Niket Nishant in Bengaluru; Editing by Ramakrishnan M.) || Shiba Inu Coin Daily Tech Analysis December 3rd, 2021: Shiba Inu Coin Shiba Inu Coin fell by 4.39% on Thursday. Following a 6.99% slide on Wednesday, Shiba Inu Coin ended the day at $0.00004221. A mixed start to the day saw Shiba Inu Coin rise to an early morning intraday high $0.00004425 before hitting reverse. Falling short of the first major resistance level at $0.0000475, Shiba Inu Coin slid to an early morning intraday low $0.00004101. Shiba Inu Coin fell through the first major support level at $0.0000422 before briefly revisiting $0.000043 levels. Bearish through the latter part of the day, however, Shiba Inu Coin fell back to sub-$0.000043 levels and into the deep red. At the time of writing, Shiba Inu Coin was down by 0.66% to $0.00004193. A mixed start to the day saw Shiba Inu Coin rise to an early morning high $0.00004241 before falling to a low $0.00004193. Shiba Inu Coin left the major support and resistance levels untested early on. For the day ahead Shiba Inu Coin would need to move through the $0.0000425 pivot to bring the first major resistance level at $0.0000440 into play. Support from the broader market would be needed, however, would be needed for Shiba Inu Coin to break back through to $0.000044 levels. Barring an extended crypto rally, the first major resistance level and Thursdays high $0.0004425 would likely cap the upside In the event of an extended breakout, Shiba Inu Coin could test the second major resistance level at $0.0000457. Failure to move through the $0.0000425 pivot would bring the first major support level at $0.0000407 into play. Barring an extended sell-off, however, Shiba Inu Coin should the second major support level at $0.0000393. For the bears, a sustained fall through the 62% FIB of $0.000037 would form a near-term bearish trend. Looking at the Technical Indicators First Major Support Level: $0.0000407 Pivot Level: $0.0000425 First Major Resistance Level: $0.0000440 23.6% FIB Retracement Level: $0.00006987 38.2% FIB Retracement Level: $0.00005680 Story continues 62% FIB Retracement Level: $0.00003700 This article was originally posted on FX Empire More From FXEMPIRE: A Busy Economic Calendar Puts the EUR, Loonie, and USD in the Spotlight Natural Gas Price Prediction Prices Drop Down 25% for the Week Silver Price Prediction Prices Consolidate and Form Doji Day Asset Manager Fidelity to Launch Physical Spot Bitcoin ETF in Canada LUNA Hits New All-Time High After Terras DeFi Milestone Metaverse Land Sales on Major Blockchains Surpass $100M in a Week || 2 reasons why bitcoin's rally stalled in November and why the weakness may continue, according to JPMorgan: Bitcoin balloon. Andriy Onufriyenko Bitcoin has stumbled in November, falling as much as 12% and reversing October's strong rally. Bitcoin's price decline can continue into year-end as crypto positioning remains overbought, JPMorgan said in a note last week. These are the two reasons why the crypto rally stalled in recent weeks, according to JPMorgan. Bitcoin's 27% rally in October reversed in November, with the cryptocurrency falling as much as 12% this month amid a risk-off period for stocks and concerns of a new COVID-19 variant. But according to a November 24 note from JPMorgan , the weakness in bitcoin prices likely stems from a slowdown in fund flows into recently launched bitcoin futures ETFs. Those ETFs saw a surge in October, with the ProShares Bitcoin Strategy BITO ETF becoming the fastest ETF ever to reach $1 billion in assets under management. After that record-setting pace, inflows came to a near standstill in November, with the BITO ETF seeing its AUM edge up from $1.2 billion at the start of the month to $1.3 billion as of Friday. "What is more disappointing is that the stalling in bitcoin fund inflows in November took place as physical gold ETFs continued to bleed," JPMorgan's Nikolaos Panigirtzoglou said. Bitcoin is viewed by many as a "digital gold" alternative to physical gold, thanks to its fixed supply and the widely held investor belief that it is an inflation hedge. Another reason for the recent weakness in bitcoin's price has to do with investor positioning in the cryptocurrency hitting overbought levels, according to the note. "Our bitcoin position proxy based on CME futures had spiked in September/October to overbought levels last seen in February 2021," Panigirtzoglou explained. Those overbought levels will serve as a headwind for bitcoin going forward, JPMorgan said, which could limit upside pressure in a price rally until they moderate. When bitcoin last hit overbought levels in February, the price extended its gains through April but then experienced a multi-month drawdown of about 50%. And after bitcoin hit its most oversold levels of the year in October, the price rallied nearly 30%, highlighting the potential for big returns when traders go against the crowd. JPMorgan Read the original article on Business Insider View comments || EverGrow Coin: The Best Crypto to Buy Now Other than Bitcoin: NEWARK, DE / ACCESSWIRE / December 7, 2021 /Since its sensational launch 2 months ago,EverGrowhas had quite the ride! EverGrow ($EGC) was the first major project offering a stable, regulated currency as a regular reward for holders. Within just 2 months, EverGrow has paid over $29,000,000 in Binance-pegged USD rewards making it a true passive income king and one of the best cryptos to buy now.
Many experts and analysts have cited EverGrow to become the top-20 global crypto in 2022. This is based on the fact they are one of the most experienced teams we've seen in this field - consisting of marketing, finance, and blockchain professionals with decades of experience. Beyond that, they have arguably the most impressive roadmap of any project in this space.
A suite of utilities within an ecosystem designed to create fundamental value and pay ever increasing rewards to holders. These utilities include Crator, the world's first Crypto/FIAT payments integrated content creator platform, expected to compete directly with OnlyFans and Patreon. An NFT lending platform and marketplace, the first of its kind of the Binance Smart Chain, meaning faster, cheaper transactions than those currently out there. The team is also understood to be working with games developers on a Play2 Earn game, a sector that is currently booming.
The team also recently announced a new crypto wallet, EverGrow Wallet, which is due to be released in Q2 2022 - this will put them ahead, in terms of timeline, of any other project in this space. The EverGrow Wallet will offer full tokenomics integration, direct fiat payment, and numerous other features that no other project has managed to bring successfully into a single application.
With all these applications and utilities, 100% of profits will be used for EverGrow's revolutionary BuyBack & Burn feature. The feature buys $EGC from the open market, creating BUSD rewards for holders, and positive price action, then sends those tokens to the burn address, permanently removing them from supply. It seems the significance of these features has not quite sunk into the markets yet, but when it does it should prove to be a real gamechanger.
But as we entered the crypto-winter, which saw goliaths such as Bitcoin and Ethereum making double-digit daily losses, altcoins were dragged down significantly, and one of the coins to suffer most in this macro-bear environment wasEverGrow. It's no surprise that a new project that surged over $1 billion in market cap would suffer a big correction during such a negative trading environment, but at a current market cap of $300 million at the time of writing, EverGrow looks again like the best crypto to invest in now.
Success with just one or two of EverGrow's ground-breaking utilities should be enough to propel EverGrow Tokens to levels we've not seen before. If they hit the jackpot in multiple areas, it would not surprise us to see EverGrow hit the top 20 next year. For those looking for crypto to buy now, EverGrow may well be the number one candidate.
Buy:https://swap.evergrowcoin.com/?outputCurrency=0xC001BBe2B87079294C63EcE98BdD0a88D761434e
Social LinksTwitter -https://twitter.com/evergrowcoinEGCTelegram -https://t.me/evergrowcoinFacebook -https://www.facebook.com/evergrowcoin/
Media DetailsCompany:EverGrow CoinEmail:[email protected]:https://evergrowcoin.com
SOURCE:EverGrow Coin
View source version on accesswire.com:https://www.accesswire.com/676271/EverGrow-Coin-The-Best-Crypto-to-Buy-Now-Other-than-Bitcoin || Bidens new FCC chair may signal a return to net neutrality, but it could take a while: The Senate Commerce Committee is expected to confirm Jessica Rosenworcel to become chair of the Federal Communications Commission on Wednesday, a role she has held in an acting capacity since January. Rosenworcel, who has been a commissioner since 2012, would become the first woman to lead the agency. Rosenworcel is expected to better align the FCC with the pro-consumer ethos President Joe Biden outlined in a July executive order , which chastised corporations for consolidating their power and making Americans pay too much for broadband, cable television, and other communications services. Rosenworcels ascent, along with that of Bidens other FCC nominee, Gigi Sohn (whose hearing has yet to be scheduled), would break the 22 deadlock the FCC has been mired in since 2020 when it was left with four commissioners. I'm excited to get back to a world where we can at least call on the FCC to do things, said Evan Greer, director of internet rights group Fight for the Future. A Rosenworcel-led FCC could also signal the return of net neutrality, an Obama-era rule that Trumps FCC repealed in 2018. And its reinstatement couldnt be more welcomed by internet activists. Restoring net neutrality is the floor, said Greer. That should be a given. Passed in 2015, net neutrality essentially forces internet service providers (ISPs) like Comcast and Verizon to treat all internet traffic equally. Under net neutrality rules, ISPs cant offer fast lanes to some data, nor can they block or discriminate against other content. Net neutrality prevents ISPs from charging customers more money to access certain websites, or from changing internet speeds depending on a users location. Without net neutrality, pro-regulation advocates argue, a handful of telecommunications giants can decide who has access to their fast lanesand its not hard to imagine a future in which ISPs charge companies for that access. Although most ISPs say they would never block access to content, four major mobile providers were caught doing just that in 2019. More recently, Verizon was accused of suppressing a California county fire departments data during the height of wildfire season. Story continues In a world without net neutrality protections, I think we would very likely in the next few years see companies like Facebook and Google cut deals with telecom providers like AT&T and Verizon, to either make it so their apps don't use up any of your data, or they're prioritized in some way, Greer said. Rosenworcel has long been a vocal supporter of net neutrality. "The internet should be open and available for all. Thats what net neutrality is about," she wrote in an October 2020 statement. "Its why people from across this country rose up to voice their frustration and anger with the Federal Communications Commission when it decided to ignore their wishes and roll back net neutrality." In order to restore net neutrality, the FCC will have to renew ISPs classification as a Title II service a wonky designation that would categorize providers as a utility (like a phone network) and would open them up to stricter oversight. Unfortunately for net neutrality advocates, the process of restoring Title II could take quite a while between the legislative process and the lawsuits that are almost sure to follow. You go through a rulemaking process, and there will be the opportunity for public comment, said Harold Feld, the senior vice president of Public Knowledge, a consumer advocacy group. Net neutrality is far from Rosenworcels only priority. So far, as acting chair, she has focused much of her energy on closing the digital divide between those who have access to high-speed internet, and those who dontoften Americans in rural areas, working-class people, and people of color. This has been especially important in the COVID era, when so many people are working remotely and attending school virtually. Rosenworcel has also previously spoken at length about broadband inequity as a gender issue, writing in a July op-ed that mothers faced harrowing challenges when schools closed down for in-person learning. And in August she pushed for a $5 million fine for companies that engage in unlawful robocalls. Feld said he also expects that under Rosenworcel, the exclusive wiring deals that exist between ISPs and property managers will come under the FCCs microscope. I mean this as the ultimate compliment: Jessica Rosenworcel is the nerdiest, wonkiest person to chair the FCC, Feld said. And that's what you want for a specialized agency. More politics coverage from Fortune : Bidens vaccine mandate may be tied up in courtbut employers shouldnt wait to enforce it , say legal experts Remote workers will not have to report proof of vaccination under OSHAs new mandate New York City mayor-elect says hell take his first 3 paychecks in Bitcoin Congress passes $1 trillion infrastructure bill Ethical leadership requires 6 qualitiesand Mark Zuckerberg lacks two of them , argues a management expert from NYU This story was originally featured on Fortune.com || MicroStrategy Says It Bought 1,434 Bitcoins Since Nov. 29: MicroStrategy (Nasdaq: MSTR), the business-intelligence software company that’s taken to accumulating bitcoin, said it bought 1,434 bitcoins between Nov. 29 and Dec. 8. The company paid about $82.4 million in cash at an average price of $57,477 per bitcoin, it said in a statement. As of Dec. 8, the company held approximately 122,478 bitcoins, purchased at an average price of $29,861 per bitcoin. Bitcoin is currently trading at about $49,200, valuing the trove at approximately $6 billion. The company raised funds for the purchase by selling shares. In the third quarter, the company added almost 9,000 bitcoin to its holdings, an average of 3,000 a month. UPDATE (Dec. 9, 13:36): Adds value of holding, share sale, third-quarter purchases, current bitcoin price. || Bitcoin hit 2 milestones this week. 2 experts break down why investing in a futures-based crypto ETF isn't smarter than directly buying bitcoin.: Photo by Spencer Platt/Getty Images Bitcoin set a record high this week, after the first US futures-based crypto ETF made its debut. But the new fund may not be the smartest, or more profitable, strategy for average retail investors, according to two experts. "I think they're better just purchasing bitcoin than to play the futures game at this point," a private equity CEO said. Sign up here for our daily newsletter, 10 Things Before the Opening Bell . As the long-awaited bitcoin futures exchange-traded fund hit the market this week, investors are keen to know what this structure ultimately means for their portfolios. The ETF structure itself was one of the most significant financial innovations when it was introduced in the 1990s as a type of investment that provides access to passive, indexed funds. Bitcoin has brought in a new era of innovation, but it remains in the nascent stage. The asset set a new all-time high above $66,000 on Wednesday, a day after the ProShares Bitcoin Strategy ETF - the first of its kind - launched on the New York Stock Exchange. While this development is a substantial achievement in acknowledging the legitimacy of the asset class, it's noteworthy that within these types of ETFs, an actual bitcoin is neither bought nor sold during the execution of the trade and therefore has no direct impact on market supply. And unlike stocks or bitcoin, futures contracts come with expiration dates and investor need to "roll" their positions into the next month to avoid taking physical delivery of the underlying asset. Regardless, the institutionalization of bitcoin is ultimately a good sign for investors - at least in theory. But is a futures-based bitcoin ETF a smart strategy to implement? Maybe not, according to Eric Schiffer, CEO of private equity firm Patriarch Organization. "For the average retail investor, I think they're better just purchasing bitcoin than to play the futures game at this point," he told Insider in an interview. "They're going to want to get far more educated and leave that work to quants and some of the big funds." Story continues But there is a huge appetite among audiences for regulated financial services rooted in the world of cryptocurrencies. Schiffer, who is personally invested in crypto, said the launch of the first US bitcoin-based ETF "has raised the hormonal levels of investors in a positive way toward participating and also takes away some of this apocalyptic downside that crypto painted in the minds of those who saw it as nothing but a vicious sack of volatility." He expects more hedge funds and institutions to be willing to navigate to futures as a hedge "to benefit from the upside of the next version of the internet." Ben Johnson, Morningstar's global director of ETF research, said in a recent interview these ETFs got the go-ahead because they don't directly invest in bitcoin, but in an already established financial product. If investors choose to invest in such a fund, they would have to navigate through not only the risks of a volatile asset, but also in maintaining their exposure to the cryptocurrency. "By virtue of investing in actual bitcoin futures, what you see is that there are some issues most notably related to maintaining that exposure," he said, explaining that such funds invest in the front-month futures contract. "What can happen in the process is that if that next futures contract, or those next futures contracts, are trading at prices that are above the ones that the fund currently owns, they will be in effect systematically selling low and buying high." Johnson was referring to the structure of the futures market. When the market is in contango - where the forward price of a futures contract is higher than the spot price - investors in the ETF will essentially have to roll their positions forward at a loss, as they will sell the current contract and buy the next contract out at a premium. Backwardation, the opposite, is when the forward price of the futures contract is lower than the spot price. This approach can be particularly costly, he said. Tax implications are another factor to consider, as the traditional ETF tax advantage that investors are accustomed to is eliminated in this case. Cathie Wood seems to have a wait-and-see stance because of the potential of tax ramifications. Read the original article on Business Insider || Austria to tax crypto same as stocks and bonds: Austrian authorities say they want to apply capital gains tax to Bitcoin and other digital currencies in order to make them more accessible for investors. It would mean both cryptocurrencies and traditional bonds would be sitting on the same level, as far as investments are concerned, which would lead Bitcoin to be considered as an equity investment. The move would create a fair relationship between different investments by imposing a single capital gains tax of 27.5%. According to the official report , the main intention is to increase the populations interest in new technologies. Tghe measures would be imposed on March 1 2022, and will only apply to cryptocurrencies purchased after February 28 2021 or new assets. Previously acquired digital coins old assets will not be subject to the new tax rules. Austrias Finance Minister Gernot Blümel remarked that at the moment there is still an imbalance in terms of the regulation of cryptocurrencies compared to traditional stocks and bonds. He added that the countrys new tax framework will be the first in the EU to encompass Bitcoin and the like and ensure fair conditions for investors in different asset classes. We are the first country in the EU to create a tax framework for cryptocurrencies. In the course of the tax reform, we will take a step towards equal treatment in order to reduce distrust and prejudice against the new technologies, Blümel said. At the same time, we ensure more fairness for investors and uniform market conditions. This is an essential step in making this financial product more accessible. We are not only pioneers in Austria but also pioneers in Europe. || Bitcoin Struggles to Break $47K as Fed Meeting Looms: Bitcoin, the worlds largest cryptocurrency by market capitalization, was lower as the market prepares for this weeks Federal Reserve monetary policy meeting, where the U.S. central bank is expected to slow down its money printer. The two-day meeting, which starts Tuesday and concludes Wednesday, is expected to end with the Fed announcing plans to cut the pace of its $120 billion-a-month of asset purchases by $30 billion every month, or double the current rate of reduction . Some cryptocurrency traders and investors say the stimulus program has bolstered bitcoins allure as an inflation hedge, so a reversal of the loose-money policy might be bearish. Bitcoin, which tends to trade in tandem with traditional markets, started December around $57,000 and is now trading around the $46,600 mark. The cryptocurrency is down over 30% from its all-time high in November. Why is bitcoin down? Lennard Neo, head of research at Stack Funds, attributed the cryptocurrencys recent drop to the market uncertainty leading investors to take risk off the table. Bitcoin is seen by some investors as a risk-on asset, which generally refers to assets that have a significant degree of price volatility such as industrial metals, equities and commodities. All things being equal, tighter monetary policy would theoretically make these risk-on assets less attractive. Investors are hesitant to buy bitcoin at current levels, according to Oanda Senior Market Analyst Edward Moya. Traders may anticipate one last major push lower for the cryptocurrency, which could see it test the $40,000 level before bulls want to aggressively buy back in, he said. Laurent Kssis, a crypto exchange-traded fund (ETF) expert and director of CEC Capital, said he doesnt anticipate an imminent move upwards for the cryptocurrency based on liquidations and trading volumes. He said a break above $50,000 may happen at a much slower pace than many had hoped. The U.S. has woken up and bought on anticipated lower bitcoin prices, which has pushed the price up slightly but it is still under pressure, concluded Kssis. There appears to be a strong feeling of uncertainty over market direction, despite strong indicators across various charts, said Quantum Economics crypto analyst Jason Deane. Fear and greed Short-term sentiment and confidence levels for the cryptocurrency check out the Fear and Greed Index appear to be playing a stronger role than long-term fundamentals, such as all-time highs in active addresses and hash rate , according to Deane. The Fear and Greed Index, a tool used by some investors to gauge the market, has now signaled extreme fear for almost one month straight. Story continues Fear & Greed Index (Arcane Research) The last time the index read a prolonged fearful market sentiment was at the start of the summer in the Northern Hemisphere, when market sentiment was fearful for almost two months straight, according to Arcane Researchs weekly report. We expect the uncertainty to remain the predominant consideration for the time being until there is enough momentum to break through, said Deane. Ether, the second-largest cryptocurrency by market capitalization, is trading below $4,000 and is down 12% in the last seven days. View comments || Bitcoin, Ether Dip in ‘Bearish Asia Session’ as China Rate Cut Fails to Inspire Risk Buying: Bitcoin and ether were again trading lower in Asian hours, continuing the year-long trend of losing ground mainly when America is asleep. The decline comes as traditional markets turn a blind eye to China’s interest rate cut and remain risk averse.
At press time, bitcoin, the top cryptocurrency by market value, was trading near $46,600, representing a 0.5% drop on the day. Ether was changing hands near $3,850, down nearly 2% on the day.
Data provided by options trader Fredrick Collins shows that bitcoin and ether have consistently faced selling pressure during the Asian hours this year. Most of year-to-date gains made by bitcoin and ether, 60% and 420% respectively, have come during the American hours, represented by 8:00 a.m. to 6:00 p.m. New York time.
Both cryptocurrencies have taken a big hit in recent weeks, dragging the broader crypto market lower as the U.S. Federal Reserve and other major central banks began unwinding the liquidity-boosting stimulus to contain inflation.
Bitcoin has declined more than 30% since peaking near $69,000 on Nov. 10, with sellers dominating the market during the Asian hours – 8:00 a.m. to 6:00 p.m. Beijing time.
The trend continued on Monday despite the People’s Bank of China (PBOC) taking steps to cushion the economy from the negative impact of property market woes and renewed coronavirus concerns.
The Chinese central bank announced a cut in its one-year loan prime rate, a de facto benchmark rate since 2019, from 3.85% to 3.8%, confirming the first reduction in nearly two years.
Interest rate cuts tend to inject liquidity into the economy. Thus, perceived inflation hedges like bitcoin, gold, and asset prices, in general, typically react positively to rate cuts.
However, Asian equities are currently flashing red alongside a 1.10% drop in the futures tied to the S&P 500. Oil prices are down more than 3% and the anti-risk currencies like the Japanese yen are drawing safe-haven bids.
The market action suggests China’s rate cut is perhaps too small compared to the impending tightening by the Fed and other central banks. Last week, theFed signaledthree rate hikes in 2022 and theBank of England delivereda surprise interest rate hike.
Heightened fears of coronavirus lockdowns also appear to be overshadowing Beijing’s move to improve market sentiment. European nations are reimposing stricter measures to stem the Omicron wave and China’s COVID zero policy is threatening to disrupt the global supply chain.
Lockdowns and supply chain disruptions are inflationary, which are seen as a positive development for a perceived store of value assets. Lockdowns also weigh over economic growth.
However, with elevated global price pressures, central banks appear to have little room for higher liquidity injection to prioritize growth as they did after the first COVID wave in the first half of 2020. Back then, inflation in the U.S. stood well below the Fed’s 2% target. As of November, U.S inflation stood at a four-decade high of 6.8%.
Fed ChairmJerome Powell recently retired the word “transitory” from inflation discussions, signaling a shift in focus from employment (growth) to inflation control. The International Monetary Fund also urged the Fed to speed up policy tightening to contain inflation.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 50784.54, 50822.20, 50429.86, 50809.52, 50640.42, 47588.86, 46444.71, 47178.12, 46306.45, 47686.81
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2020-06-19]
BTC Price: 9288.02, BTC RSI: 46.30
Gold Price: 1745.90, Gold RSI: 57.33
Oil Price: 39.75, Oil RSI: 63.72
[Random Sample of News (last 60 days)]
Bitcoin miners made $412.5 million in revenue during April, new data indicates: Bitcoin miners made 8% more revenue in April as compared to March, thanks to a gradual recovery in bitcoin's price.
Bitcoin miners generated $412.5 million in revenue in April ascompared to$380.1 million in March. The figures are based on the assumption that miners sell their bitcoin holdings immediately and are drawn from the daily close price of bitcoin.
Source: Coin Metrics, CryptoCompare,The Block ResearchAsnotedby The Block's Larry Cermak in his April by-the-numbers report, the vast majority of that month's miner revenue came in the form of block reward subsidies, which at this time is at 12.5 BTC per block. That number will fall to 6.25 BTC when the subsidy ishalvedearly next week.
Transaction fees – which are paid by bitcoin network users to gain priority in transaction blocks – only accounted for about 1.5% of the total amount of revenue generated in April.
To read thefull April report, subscribe toThe Block Research.
© 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. || The Crypto Daily – Movers and Shakers -26/04/20: Bitcoin rose by 0.40% on Saturday. Following on from a 0.12% gain on Friday, Bitcoin ended the day at $7,538.5. A bearish start to the day saw Bitcoin fall to an early morning intraday low $7,450.0 before finding support. Steering clear of the first major support level at $7,414.27, Bitcoin rallied to a mid-afternoon intraday high $7,700. Breaking through the first major resistance level at $7,608.17, Bitcoin came up against the second major resistance level at $7,708.03. A late afternoon pullback saw Bitcoin fall back through the first major resistance level to sub-$7,500 and into the red. Finding late support, however, Bitcoin moved back through to $7,500 to end the day in the green. 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 another mixed day on Saturday. Tezos led the way once more, rallying by 5.21%. Binance Coin (+1.75%), Bitcoin Cash ABC (+0.67%), Cardano’s ADA (+1.46%), Ethereum (+3.46%), Ripple’s XRP (+0.38%), Stellar’s Lumen (+1.62%), and Tron’s TRX (+0.02%) also found support. Bitcoin Cash SV (-0.16%), EOS (-0.17%), Litecoin (-0.31%), and Monero’s XMR (-0.13%) bucked the trend on the day. Through the week, the crypto total market cap rose from Tuesday current week low $196.98bn to a Saturday high $220.28bn. At the time of writing, the total market cap stood at $219.55bn. While Bitcoin’s dominance continued to hover at sub-64% levels, there had been an upward trend before easing back on Saturday. At the time of writing, Bitcoin’s dominance stood at 63.6%. 24-hour trading volumes rose from sub-$120bn levels to a current week high $155.9bn on Friday. At the time of writing, 24-hr volumes stood at $124.86bn. This Morning At the time of writing, Bitcoin was up by 0.46% to $7,573.5. A bullish start to the day saw Bitcoin rise from an early morning low $7,522.3 to a high $7,573.5. Story continues Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a mixed start to the day. Bitcoin Cash ABC (+1.12%), Bitcoin Cash SV (+2.14%), Monero’s XMR (+1.34%), and Tron’s TRX (+1.16%) led the way. Binance Coin (-0.11%), Stellar’s Lumen (-0.02%), and Tezos (-1.18%) struggled early on. For the Bitcoin Day Ahead Bitcoin would need to move through to $7,600 levels to bring the first major resistance level at $7,675.67 into play. Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $7,573.5. Barring a broad-based crypto rally, the first major resistance level and Saturday’s high $7,700 would likely cap any upside. In the event of a breakout, the 38.2% FIB of $7,730 and the second major resistance level at $7,812.83 would likely come into play. Failure to move through to $7,600 levels could see Bitcoin hit reverse. A fall through to sub-$7,560 levels would bring the first major support level at $7,425.67 into play. Barring a crypto meltdown, however, Bitcoin should steer of the second major support level at $7,312.83. This article was originally posted on FX Empire More From FXEMPIRE: Crude Oil Weekly Price Forecast – Crude Oil Markets Get Hammered Again The Crypto Daily – Movers and Shakers -26/04/20 The EUR Looking Vulnerable to Further Downside Asian Shares Pressured by Plunge in Oil Prices, Japanese Exports European Equities: A Week in Review – 25/04/20 Silver Weekly Price Forecast – Silver Markets Go Back and Forth || 9 Reasons Why Bitcoin Has Never Been Stronger Going Into a Halving: From surging price and all-time-high hashrates toPaul Tudor Jonesand narrative relevance, a look at the strength ofBTCheading into next week’s halving.
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.
This episode is sponsored byErisX,The Stellar Development FoundationandGrayscale Digital Large Cap Investment Fund.
Related:Bitcoin News Roundup for May 8, 2020
The bitcoin halving is just a few days away and the growing excitement is palpable. On this episode of The Breakdown, NLW argues the excitement is also legitimate, and looks at nine reasons why bitcoin has never been stronger going into one of its every-four-year issuance reductions:
• Price
• Hashrate
• Mining competition
• Accessibility and Services
• Infrastructure
• Institutional awareness and participation
• Narrative relevance
• Perceived and real resilience
• Lindy effects
Oh, and let’s not forget: Hedge fund legend Paul Tudor Jones isreportedlyinvested in bitcoin and sees it as a hedge against “great monetary inflation.”
See also:Why the Dollar Has Never Been Stronger or More Set Up to Fail
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 May 7, 2020
• What the FATF: The Deadline for Complying With New Crypto Exchange Rules Is Coming
• Surveying the Carnage: How Real Estate, Travel and Music Are Faring During the Crisis || Enjin’s New Minecraft Plug-in Lets Players Spawn Blockchain Assets: Minecraft, one of the world’s most popular video games, has a new plug-in enabling players to place blockchain assets directly into their servers.
Built by gaming startup Enjin, EnjinCraft is an open-source blockchain plugin that enables players to spawn assets in the Minecraft Java Edition without the need to write any code.
The tool works by dropping the EnjinCraft file into a player’s server “plug-ins” folder, where they can then begin integrating and distributing blockchain assets in the form of tokens.
Related:Bitcoin News Roundup for May 28, 2020
The plug-in marks the second release by Enjin for Minecraft after it initially released DonationCraft in 2013 in collaboration with Bukkit. Now downloaded 5.1 million times, DonationCraft allows players to grow their Minecraft servers by creating a server website and donation store.
See also:Trust No Dapp: Chainlink Launches Oracle for Provable Randomness
The new offering allows server hosts to create their own localized Minecraft economies by providing their players with tangible ownership over in-game items and currencies. It also allows for players to securely trade their assets in peer-to-peer (P2P) fashion through the server or via external chat rooms and digital trading platforms like the Enjin Marketplace.
“EnjinCraft is the beginning of a new era for sandbox games. Players now have a tangible stake in their gaming worlds, and server owners can create new kinds of addictive experiences by using branded collectibles and items with scarcity and value in the digital universe,” said Enjin’s co-founder and CTO, Witek Radomski..
Related:Handshake Domains Bring in $10M as Race for Censorship-Resistant Websites Heats Up
Enjin has also released an open-source software development kit (SDK) for Java, allowing developers to implement blockchain in Java-based mobile, desktop or web apps.
See also:CryptoWars Leaves Loom Sidechain in Pivot to ‘Play-to-Earn,’ Aka Betting
The gaming-focused project has been active this year, having launched itsdevelopment platform on Ethereumin February. The launch enables potentially millions of developers to integrate crypto assets into games and apps without prior knowledge of coding for blockchain.
In April, Enjin announced it would be opening its crypto wallet to Chinese users ahead of a planned expansion into the Asian nation after it sought approval from China’s Ministry of Industry and Information Technology.
• ‘Decentralized ID at All Costs’: Adviser Quits ID2020 Over Blockchain Fixation
• Bitcoin Transaction Fees Decline as Network Congestion Eases || Ren’s new network bridges Ethereum with Bitcoin, Bitcoin Cash, and Zcash: Ren, a company developing a protocol for private transactions between blockchains, has launched its core product: a network aimed at connecting the Ethereum blockchain to other popular chains.
The new network, called RenVM, will start off by connecting Bitcoin, Bitcoin Cash and Zcash to Ethereum. The company says this will be a boost for decentralized finance (DeFi). “By removing liquidity silos that have long hindered DeFi’s growth potential, RenVM will serve as a robust and permissionless tool for all of DeFi to utilize,” it said in a statement.
Essentially, RenVM takes custody of users’ non-Ethereum assets and then mints corresponding ERC-20 tokens for those assets. The first three — called renBTC, renBCH and renZEC — are now live on the Ethereum network.
DeFi projects can use RenVM as a plug-in and add it to their existing smart contracts. This creates an interface on their own applications for users to deposit and withdraw renBTC, renBCH and renZEC. Ren says the protocol differs from similar projects like WBTC and imBTC since it does not rely on a centralized custodian.
In 2018, the project raised 35,000 ether (approximately $30.5 million at the time) in an initial coin offering. Big names including Polychain Capital, FBG and Huobi Capital participated in the round.
In a statement, Ren CTO and co-founder Loong Wang said the team also wants to support other assets, including stablecoins like Libra and China’s digital yuan.
© 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. || BitMEX parent offers $100K grant to Bitcoin Core researcher Gleb Naumenko: HDR Global Trading Limited, the operator of cryptocurrency derivatives exchange BitMEX, has awarded $100,000 to Bitcoin Core contributor and researcher Gleb Naumenko.
Naumenko told The Block that the grant would be distributed monthly over a year, so it is more like a "stable income.”
Naumenko has beenworkingon Bitcoin Core technologies since 2017, with a primary focus on security, privacy, and scalability. He recently worked for Chaincode Labs, a research and development group for bitcoin and related technologies.
Naumenko told The Block that his recent “big” projects have been “Asmap” and “time-dilation attackson the Lightning Network." He is planning tocontinue focusing onbitcoin’s security and privacy, as well as protocols on top of the bitcoin network.
Today’s offer is HDR’s second bitcoin developer grant. In March, the companyprovided$100,000 to Bitcoin Core maintainer Michael Ford. HDR also donated to the MIT Digital Currency Initiative in 2019 to assist the work of developers there, especially Bitcoin Core developers Wladimir van der Laan and Cory Fields.
© 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. || Money Reimagined: A World Where Privacy and Saving Lives Can Coexist: Defenders of Washington’s COVID-19 response say it’s unfair to compare surging U.S. death rates with the far lower numbers in countries such as South Korea or Singapore because Americans would never accept the kind of social surveillance that’s ingrained in their approach. The statement implies a depressing trade-off of deaths for privacy. Although it recorded its first COVID-19 case on the same date, the U.S. currently has, per capita, 13 times South Korea’s caseload and a shocking 33 times its deaths. It’s also a depressingly defeatist notion. The trade-off need not exist. The U.S. could and should have an effective smartphone-based “contact tracing” system that doesn’t encroach on our civil rights. For two decades, cryptographers have been highlighting the threat to privacy from our expanding online habits. They’ve also found ways around that problem, inventing encryption tools that let us share data without giving up our identities. Related: The Rise of ASICs: A Step-by-Step History of Bitcoin Mining You’re reading Money Reimagined , a weekly look at the technological, economic and social events and trends that are redefining our relationship with money and transforming the global financial system. You can subscribe to this and all of CoinDesk’s newsletters here . But just as we ignored epidemiologists and their warnings of an inevitable pandemic, we also ignored the cryptographers. Worse, perhaps, we labeled them as cranks and criminals. This must change. If Americans truly want to protect their freedoms, they must now support research and development in zero-knowledge proofs, end-to-end encryption and self-sovereign digital identity. Thankfully, the cryptocurrency explosion has fostered a boom in innovation in these fields, often resulting in side applications that are unrelated to digital tokens or blockchains. This is not a crypto fringe concept; it’s core infrastructure for the digital age. Related: China’s National Blockchain Will Change the World Story continues Here’s the challenge: To test decentralized data-gathering tools at scale, in real life, and then to deploy them widely, requires regulators and intelligence agencies to roll back roadblocks they’ve put in front of open source cryptographer communities. A change in policy is urgently needed because once we get through COVID-19, another digitizing trend will start encroaching even further into our private lives: central bank digital currency. For now, though, until it has a strategy in place that combines comprehensive COVID-19 testing with a decentralized, privacy-protecting contact-tracing regime, the U.S. faces three stark options: 1) We stay ignorant of the extent of the virus’ spread, forcing us to stay in lockdown for much longer than better-informed countries; 2) We send everyone back to work and expose millions to an extremely contagious disease whose morbidity levels are high enough to drive another overrun of our medical system; or 3) We leave our homes but submit to a regime of rigorous state and corporate surveillance. South Korea shows what’s possible with option three. Under the somewhat ironic acronym of TRUST (Transparency, Robust screening and quarantine, Unique but universally applicable testing, Strict control and Treatment), authorities employed mass drive-thru testing and then – while surveilling people with phone GPS data, security cameras and credit-card and bank records – limited the movement of those who tested positive. As Bruce Klingner of The Heritage Foundation writes, the government employed powers it gained after the 2015 MERS outbreak that gave it “warrantless access” to private information. Resistance to such invasive approaches is leading governments in the West to favor a pro-privacy approach to contact tracing – officially called “proximity tracing” in Europe. Yet, in both the U.S. and Europe, a familiar challenge has emerged: Can we trust the controlling entity to maintain users’ privacy? In a rare act of cooperation, Apple and Google teamed to build a system based on Bluetooth transmitters, a technology far less prone to mass surveillance than GPS. It’s a voluntary model that would inform people of their contacts with infected people without revealing their identity. It’s an attractive idea in principle but, setting aside its dependence on widespread voluntary participation and that it only works with Android or iOS phones, its core weakness, as CoinDesk’s Benjamin Powers reports , is users must trust Apple and Google with their data. The demands of shareholders and the Web 2.0 history of “surveillance capitalism,” the NSA’s PRISM program , the Patriot Act and Cambridge Analytica have undermined people’s willingness to trust that the powerful gatekeepers of our online lives won’t abuse our data. A new report that secretive intelligence firm Palantir has been awarded a separate COVID-19 contract will do nothing to boost that trust. Such concerns presumably led a European group called the Privacy-Preserving Proximity Tracing consortium to initially include a sub-group of academic cryptographers from the Decentralized Privacy-Preserving Proximity Tracing, or DP3T, consortium. A decentralized model for sharing data, which ideally would leave data control in the hands of users, would remove the risk of capture by a controlling entity. In theory, that would bolster public trust in the initiative and increase its data-gathering capabilities. But now it’s all falling apart. (Here again, read Benjamin Powers , whose coverage of the contact tracing debate is unparalleled.) The DP3T members are defecting from the PPPT in protest that the biggest countries are pushing for more centralized control over the data. This follows a Bloomberg interview with French Digital Minister Cedric O where he called on Apple and Google to disable a Bluetooth feature designed to protect users’ privacy. It’s as if there’s a concerted effort to block the development of truly decentralized, privacy-preserving systems. Critics will point to the untested nature of the technology and scaling challenges. Yet, in deeply poor Honduras, blockchain startup Emerge and the Inter-American Bank managed to pull such a system together in just five days . Such initiatives stem from the progress in cryptographic science that has come with the rise of open source cryptocurrency developer communities. It has produced innovations such as atomic swaps, decentralized exchange, Zk-snarks, recursive zero-knowledge proofs, ring signatures and homomorphic multiparty computation, all pointing to a future in which society gathers valuable transactional information while keeping secret the human identities behind it. Yet, mainstream corporate and government sectors show little interest publicly in testing and employing these solutions. In fact, for years governments have worked against valuable cryptographic solutions. Think of the mid-1990s criminal investigations of Phil Zimmerman – whose PGP (Pretty Good Privacy) software now protects most of the world’s email – Australia’s anti-encryption law or the FBI’s efforts to force Apple to give up user data. Whether these roadblocks are to protect corporate crony interests or government intelligence agencies, we can now see them as self-defeating. We urgently need to bring pro-privacy cryptography out of the shadows. Our way of life is at stake. A world gone mad This crisis continues to throw up strange and unforeseen phenomena. Who could have predicted a few weeks ago the U.S. Federal Reserve would directly buy corporate debt or that “Sorry, I was on mute” would become part of the daily cadence of our office meetings. In the spirit of that, we thought we’d illustrate the distortions occurring with three charts offering snapshots of different aspects of the fallout in the financial and economic realm. A picture paints a thousand words, but in true exponential effect, we think these three paint many more than three thousand – maybe 30,000? 1. When oil becomes worthless : 2. When millions of Americans are gainfully employed…until they’re not: 3. When a hacker reminds us that Decentralized Finance still has security challenges : The Global Town Hall Central Bank independence may not survive the coronavirus. So argues Bloomberg columnist Clive Crook , writing a kind of pre-obituary for a tenet of monetary policy that dates back to Federal Reserve Chairman Paul Volcker’s successful but politically difficult fight against inflation in the 1980s. The nail in the coffin, Crook argues, would be the massive public spending needed to revive the U.S. economy. If, in the future, the Fed buys Treasury bonds issued to fund that effort, can it really define it as monetary policy? Or is it more like “monetizing the debt?” USDT is invading Ethereum. In his newsletter Wednesday, Messari CEO Ryan Selkis picked up on the fact that surging stablecoin usage is swelling the total value of such transactions over Ethereum to point out the blockchain itself is being transformed by it. The daily amount traded in stable-value ERC20 tokens now surpasses that of ether – most prominently led by Tether’s USDT token. “While Ethereum is many things, the most relevant thing it is now is a globally accessible, 24/7 digital eurodollar infrastructure ,” Selkis writes. “Essentially, USDT has invaded the Ethereum blockchain without anyone’s permission, which is the explicit purpose of permissionless public blockchains.” Everyone (on my Twitter feed at least) is talking about Marc Andreessen’s “build” essay. My take: the legendary Silicon Valley developer and venture capitalist is right to lament that the U.S., despite its wealth and scientific talent, has stopped building and innovating , but I was disappointed he didn’t try to answer the bigger question: Why? Why has American democracy failed to prioritize things like bridges, buildings and medical equipment? I’ll presumptuously offer an answer: In the Web 2.0 era, our system for processing and prioritizing the information that society uses to make political and resource decisions is now controlled by a small group of giant companies funded by VCs like Andreessen. What we read and view is determined by the hidden algorithms of platforms such as Google and Facebook, which intermediate between media creators and their audiences. Those algorithms serve the interests of the platforms’ advertisers (as well as those of disinformation actors like Cambridge Analytica who’ve figured out how to exploit them). Whatever your view of “MSM,” the reality is that algorithms have more say in setting the agenda than journalists. Related Stories For Contact Tracing That Preserves Privacy, Focus on Incentives Digital Dollars Can Reduce Unemployment, Here’s How || Latest Bitcoin price and analysis (BTC to USD): Bitcoin is slowly but surely edging its way towards a major move in terms of price action as it continues to consolidate in a bullish manner beneath $10,000. It has now been consolidating within this level since the beginning of May as hype surrounding the recent Bitcoin halving continues to subside. Breaking out above $10,450 remains the key target to the upside as it has been a point of rejection on three occasions dating back to October. As previously stated in Coin Rivet’s daily analysis , breaking above the $10,450 level of resistance would indicate a change in behaviour that would be suggestive of a bull market reversal. If Bitcoin can lift itself into a bull market from here, coupled with the halving narrative and institutional investment, it could well find itself forming a new all-time high before the year is over. However, a break down in price from here would demonstrate how the asset class simply isn’t ready the topple the magnificent feat in 2017 when it defied critics by surging to $20,000. Levels of support remain at $8,830 and $7,800, although some analysts are predicting a correction to as low as $7,100 as this was the yearly open. Much of it also depends on the upcoming path of the US stock market, which has bounced back from coronavirus-induced lows to form a new all-time high. As Bitcoin is known as a hedge to the traditional financial system and fiat currencies, a period of economic downturn may be required for Bitcoin to truly come into its own. 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 Story continues 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 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 || This Market Makes No Sense: The stock market and the economy As I have always tried to make people understand, the stock market and the economy are not one and the same. Rather, there is a reason that the stock market is considered the best “leading indicator” for the economy. And, it is purely because market sentiment (the true underlying driver of the stock market) is seen in action much quicker within the stock market as relative to the fundamentals within the economy, which take time to catch up to the market action. To put it most simply, consider how long it takes you to effectuate growth in a business when sentiment turns bullish (obtaining funds, placing those funds to work in producing goods and services, marketing and selling those goods and services, earning profits, etc.) as compared to how long it takes to press the button on a computer to buy a stock. It is simply much faster to effectuate a turn in sentiment in the stock market than in the economy. And, this lag explains why the stock market always bottoms well before you see a turn in the economy. As I read in other articles of late, it is quite clear that many have missed this rally off the 2191SPX bottom and are in complete disbelief due to their lack of understanding of what I just outlined above. In fact, these are a smattering of the comments I have received from my prior two articles wherein I was calling for higher levels to be struck in the market: “This “market” is so RIGGED it’s pathetic . . . Highest unemployment in decades and the “market” roars back faster than it ever has in over EIGHTY YEARS? I feel like I’m in some parallel matrix of backwards reality” “buying in to this rally is absolute suicide.” “If you think this is over you are simply wrong” “This bear market is just getting started.” “Bulls are so incredibly delusional if they think this is over” Story continues While it is clear that most investors have reacted quite emotionally to the events of recent days, that is often the worst way to approach the market. So, let’s take a step back and review where we have been and then we can look to where we are likely going. For those that have been following my analysis closely, you would know that I was building a short position in the EEM back in January and February, as it was presenting the clearest break down pattern, along with providing us with a very low risk set-up with wonderfully defined parameters. Moreover, as I wrote regarding the SPX late last year and early in 2020, if the market was going to break down below the 3100SPX level, it would open the door to take us back down to the 2200SPX region. And, as we approached that 2200SPX region in March of this year, I highlighted to the members of ElliottWaveTrader my expectation that the SPX should bottom in the 2187SPX region, and rally back up towards the 2600-2725SPX region from there. As we now know, the SPX bottomed at 2191 (within 4 points of my targeted support), and we clearly rallied back to our original 2600-2725 target. However, as the market moved into the 2600-2725SPX target zone, the structure made it quite clear to us that this rally had not run its course. Rather, the structure was actually pointing us to the 2890SPX region, as I highlighted in my last public article as well. So, we set our sights on the 2890SPX target. The market then proceeded to rally to the 2879 level (within 11 points of my target), whereas the futures struck my target. For those that followed my analysis closely, you would know that once we struck this target region, I expected a pullback to be seen. Ideally, that pullback would hold the 2700SPX region before continuing higher. As we know today, the market proceeded to pullback from the 2890SPX target region, and bottomed at 2727SPX. Thereafter, we began a rally that has struck a high of 2955SPX (with 20 points higher seen in the futures). Now, you are either thinking to yourself that this is the luckiest guy in the world or that this is some kind of voodoo. Elliott Wave analysis But, to be honest, this is simply our Fibonacci Pinball system of Elliott Wave analysis, which provides us with these high probability targets on both the upside and downside as the market acts as a pinball through these Fibonacci extensions and retracements we track in the standard structures we see quite commonly in the market. When the market is acting in a standard manner, then it moves through these targets in an almost perfect “pinball-like” manner. However, if the market reacts in a manner outside of these standards, it provides us an early warning that something else is playing out and allows us to move into our alternative plans, which have been outlined well before the diversion from the standard occurs. So, what does our methodology suggest at this point in time? Well, when the market rallied into the 2900-2950SPX region this past week, the structure of the market told me that the risks have risen high enough for me to suggest to the members of ElliottWaveTrader that they should significantly reduce their long positioning within the 2900-2950SPX region. Allow me to explain. In the most bullish case scenario, we expected the market to rally from the 2191SPX region back up to the 3200/3300SPX region. That means that once we moved into the 2900-2950 region, we caught 70% of this rally off the March low rather safely. But, the last 30% carries with it the most risk, as I cannot be certain that the market will reach the most bullish target in my expectations. Now, this is where our Fibonacci Pinball method of Elliott Wave analysis provides us even more insight when it comes to market context. Even if the market provides us with the most bullish scenario of a rally to the 3200-3300 region, I would then expect a pullback in the market to the 2600-2800 region. So, considering we caught the rally from 2191 to 2950SX, and we will likely come back down to levels lower than that later this year, I questioned if it was really worth the risk for the remaining 30% overhead? So, as I outlined to the members of ElliottWaveTrader.net , the easy money on the long side in the market has been made as we moved into the 2900-2950SPX region. And, now the market is going to tell us in the coming two months whether it will continue higher to complete 5-waves off the 2191SPX level or not. If we do complete those 5 waves into the 3200-3300SPX region, then I am going to prepare to “buy-the-dip” into the 2600-2800SPX region. However, if the market is unable to complete this 5-wave rally structure off the 2191 low, then it will open the door to a drop to the 2060SPX region in the coming months. While I am going to leave the finer details of how I view this within the members section of ElliottWaveTrader.net , I hope I am being clear that risks have risen to the point where one has to question if they are worth the rewards on the long side of the market at this time. So, again, if you have been following my work, then not only did you catch most of the decline earlier this year, but you have now also caught the rally from the 2200 region to the 2900 region. I would say you have now likely had the best year of your career, and it is time to head to the sidelines to see how the next few week’s shake out. But, this brings me to other comments I see quite often. And, it really gives me a chuckle when I see them from fellow Seeking Alpha “contributors,” such as this one, which was posted in response to my public analysis calling for a major rally off the 2200SPX region: “You want “really silly.” That’s really silly. And anyone who cannot see that isn’t playing with all their circuit breakers on… The market is delusional, and you, rather than following the news cycle, which obviously the market is not following, are following the market.” Well, my friends, those that have been following the “news cycle,” as suggested by this other “contributor,” have been scratching their heads as the market has rallied 35% off the lows we caught back in March. And, yes, we have been following the market. Does that make the 35% we have earned on the long side a delusion? Well, I keep looking at my account and it certainly looks real. And, that last sentence penned by this “contributor” really made me scratch my head. If one realizes that the market is not following the news cycle, does it make sense to continue to follow the news cycle? Well, I guess if your goal is to prove that you are smarter than the market, you continue to follow the news cycle. But, if your goal is to maximize profits from the market, then you have to question what this person is really doing. You see, folks, markets do not work based upon news cycles and logic. Rather, markets are driven by emotion. And, unless you understand how emotion drives the market, you will be standing on the sidelines, scratching your head, and thinking the market is delusional due to your superficially correlated news cycle perspective, while others reap the profits from their more sophisticated and advanced level of understanding the market. I have said this before, and it is certainly worth repeating. Unless you understand the larger market context, then you will often be scratching your head when you see moves that defy logic. And, I have not seen any better methodology to provide market context then our Fibonacci Pinball method of Elliott Wave analysis. Does that mean we will always be right in our assessments? Absolutely not. But, our analysis is quite accurate the great majority of the time. And, if the market deviates from our primary analysis, we are able to adjust rather quickly, as that is also part of overall methodology. At the end of the day, some of you view me as crazy, some of you view me as practicing voodoo, and some of you view me as simply lucky. But, you will never be able to view me as a perma-anything. You see, those that are perma-bulls will be right most of the time because the market rises the great majority of the time. Yet, they will also get caught looking the wrong way during the periods of major draw-downs, such as what we experienced in February and March of 2020. And, those that are perma-bears are more like a broken clock. But, when they are “right,” boy do they turn loud and boisterous. And, we certainly heard from them in March, yet they have been rather quiet in April. As for me, I am perma-profit. My goal is to simply listen to the messages in market price structure, and endeavor to be on the correct side of the market for the greatest majority percentage moves the market has to offer, while balancing reasonable risk management strategies. So, to answer that “contributor’s” comment to me in my last articles, yes, I will continue to discount the news cycle and follow the market. And, while you may consider me to be “delusional” in doing so, the profits earned by me and the members of ElliottWaveTrader are clearly not a delusion. See charts illustrating our wave counts on the S&P 500. Avi Gilburt is a widely followed Elliott Wave analyst and fo under of ElliottWaveTrader.net , a live trading room featuring his analysis on the S&P 500, precious metals, oil & USD, plus a team of analysts covering a range of other markets . This article was originally posted on FX Empire More From FXEMPIRE: Price of Gold Fundamental Daily Forecast – Investors Betting on Escalation of US-China Tensions GBP/JPY Price Forecast – British Pound Reaches Bottom of Range GBP/USD Price Forecast – British Pound Pulls Back to Kickoff Week US Open – Risk, Earnings, Oil, Gold, Bitcoin AUD/USD Price Forecast – Australian Dollar Pulls Back to 50 day EMA GBP/USD Daily Forecast – Sterling Extends Losses After Failed Attempt at 200 DMA
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 9332.34, 9303.63, 9648.72, 9629.66, 9313.61, 9264.81, 9162.92, 9045.39, 9143.58, 9190.85
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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 2019-05-09]
BTC Price: 6174.53, BTC RSI: 78.40
Gold Price: 1283.50, Gold RSI: 49.66
Oil Price: 61.70, Oil RSI: 45.34
[Random Sample of News (last 60 days)]
Disaster-Proof Your Retirement Plan: We have become used to watching disasters recently, as hurricanes, floods, fires and earthquakes ravaged cities and changed lives. With every passing month, a new disaster replaces the old in the headlines. SEE ALSO: Flying Blind With Bitcoin: Should You Invest, too? Many people who did all they could to prepare still lost their homes and, in some cases, their loved ones. Others who did nothing to prepare got lucky and escaped the worst. Misfortune tends to leapfrog like that. And that can make folks complacent. Financial professionals frequently see a similar attitude as we talk to clients about potential threats to their retirement. Pre-retirees may know they need to plan, but it isn't a priority for them just yet. Today, they're still healthy, making money on their investments and seeing a steady paycheck coming in. They figure they'll batten down the hatches at some point -- but not right now. The thing is, just as with any type of disaster preparation, the sooner you address your vulnerabilities, the more secure you'll be. None of us knows exactly what will happen during a long retirement, but we do have several significant known risks we can work to eliminate or minimize. Let's take a closer look at just two of those -- market risk and health and long-term care risk -- and some solutions for trying to address them: Health and long-term care risk Sadly, your life could be long but not necessarily healthy. Regardless of how well you take care of yourself, time will take its toll. Ask any 60-year-old, and they will probably admit that they are no longer as resilient as they were at 45. If you're 65 today, there's a 52% chance you will need long-term care at some point during your life, according to the U.S. Department of Health and Human Services. An illness could quickly drain your assets and leave your surviving spouse with little to live on when you die. Today an extended health care situation can cost as much as $10,000 per month, even for home care. In my opinion, this could likely rise to $20,000 per month by the time the typical Baby Boomer is in their 80s. Medicare does not cover long-term care costs. Most retirees have no financial plans to deal with this and will be forced to spend down their assets. Story continues Several financial strategies can be used to address long-term care. Traditional long-term care insurance is an excellent approach if you are in your 40s or 50s and still healthy. The plans typically cost $3,000 to $5,000 per year to cover a married couple. If you are self-employed or a business owner, you may be able to deduct this premium, even under the new tax rules. For individuals in their 60s, or those who don't want to pay ongoing premiums, consider a single premium annuity or life insurance policy with a long-term care rider. These so-called hybrid solutions are becoming more popular with clients as the premiums are usually locked in, and the investment component is returned to your estate if you never need long-term care services. Some of these plans even offer a full return of your premium, should you change your mind down the road. Another possibility is an income-based annuity, which is usually much easier to qualify for, as far as your health goes. We recently had a client who wanted long-term care insurance for himself and his spouse. Due to existing health issues, his spouse was not eligible for a traditional long-term care policy. We were able to roll over a portion of his 401(k) on a tax-free basis to secure an annuity that will provide guaranteed income in retirement. If either he or his wife needs home health care, the income from the annuity will boost up by 50%. This is not considered long-term care insurance by regulators, but the extra funds will make a difference if either spouse ends up needing care. If not, they still have the additional income from the annuity to support their desired lifestyle. See Also: Investors: Keep Your Guard up and Be Ready for a Bear Market Market risk Financial professionals, pundits and scholars issue warnings regularly about the inevitable ups and downs of the markets, but people have short memories. This bull market has lasted so long that many have forgotten how bad a bear market can be. If you weren't in or close to retirement in 2000 or 2008, you've likely recovered all the money you lost and more. No one can predict exactly when the next market meltdown will happen. If your retirement income plan relies heavily on your investments, poor market performance early in retirement can have a devastating effect on how long your money will last. After all, you will be pulling money out of your investments to cover living costs while the market is going down. You are permanently locking in your losses, and may not recover. One of the simpler strategies to use to address this problem is the "bucket" approach. Determine your required annual expenses and if possible move four years' worth into safer investments like money-market funds, very short-term bonds or an annuity. You won't make much here, but that is not the point. Why four years? There have been a total of 11 bear markets since 1965 (where the declines were greater than 20%). The average time from market peak, to trough, to full recovery is 1,084 days, or three years. A small buffer is always a good thing, as some recoveries take a bit longer. When we experience the next market correction you will be able to weather the storm, and use these safe assets to cover expenses. Another consideration would be to limit the use of index mutual funds as you approach retirement. By definition these funds will track the market, both up and down. This is fine for a 40-year-old, but not for someone close to retirement. Because it is so publicized, the S&P 500 index is seen as relatively safe investment by many retirees. In fact, this index experienced over a 55% drawdown in the 2008/2009 financial crisis. What to do after a nine-year bull run? Favor high-quality companies and stocks, as these tend to do better in downturns and recover faster. Seek out areas that may be undervalued relative to the major U.S. indexes, such as International funds. Stick with boring companies that have been around for decades and pay consistent dividends . Also make sure to check the overall allocations in your portfolio. With nine years of stock market gains, you are likely over-exposed to the market. This could be a good time to take some gains off the table. You can do this yourself, or find an adviser to help. Sometimes, you can see trouble coming and dodge the danger. But life-changing events also can come out of nowhere. A retirement plan that deals with the significant knowable risks can help you feel confident now and into in the future. And like any good business plan, you have to review and monitor and make changes as needed along the way. See Also: The Impossible Reality of Long-Term Care Planning Kim Franke-Folstad contributed to this article. Advisory services offered through J.W. Cole Advisors Inc. (JWCA). JWCA and Arola Associates Inc. are unaffiliated entities. Comments are suppressed in compliance with industry guidelines. Click here to learn more and read more articles from the author. This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA . EDITOR'S PICKS 5 Quick Steps to Improve Your Finances in 2018 Money Aside, 5 Questions to Answer Before You Retire 4 Telltale Signs You\'re Ready to Quit the Rat Race Copyright 2018-2019 The Kiplinger Washington Editors || The Tipping Point: Kroger, Starbucks May Ignite Retail Crypto: It's no secret thatcryptocurrenciesdon't receive many plaudits in the mainstream media as reliable means ofpayment. Critics have even claimed that Bitcoin "sucks" as a payment mechanism.
Yet, despite that blinkered skepticism, cryptocurrency payments actually grew last year. Payment processor BitPayreporteda "record" $1 billion in transaction revenue in 2018, with its business-to-business (B2B) operations increasing by 255 percent compared to the previous year. Meanwhile, the use of cryptocurrencies in such economically unstable countries asVenezuelaandIndiahassurged, as people turn to the likes ofBitcoinandDashto escape from increasingly worthless national currencies.
These are all encouraging developments, and they've become more encouraging in recent months, with growing interest in crypto payments from major retailers. From Kroger toStarbucksandRakuten, big corporate names have begun flirting with Bitcoin and theLightning Networkas a payment channel, as well as with other cryptocurrencies. Their interest comes amid rising disenchantment with legacy payment systems, stoking hopes that a few more big converts to crypto payments could provide an all-important tipping point toward widespread adoption.
However, while events appear to be moving in the right direction for crypto payments, experts agree that it will take more than a few isolated use cases before the industry will see adoption on a larger scale. Added to this, payment interfaces need to be improved and made more consumer-friendly. It's only with the combination of technological effectiveness and corporate adoption that the global public will begin using crypto as money.
At the beginning of March, supermarkets giant Kroger — the17th-largest companyin theUnited States—revealed that it would stop acceptingVisa credit cards at over 250 of its stores. "Visa has been misusing its position and charging retailers excessive fees for a long time," said Kroger executive VP Mike Schlotman in a statement, with the retailing giant also explaining thatVisa’s fees were the highest of any of the credit cards it accepted.
What's interesting about this episode is that members of the crypto community quickly swooped in to make the case for Kroger to accept Lightning Network payments. OnTwitter, Morgan Creek Digital founder Anthony “Pomp” Pomplianoreached outon March 2 to the retailer's leadership team, stating that the "Morgan Creek Digital team will fly to meet them and get them hooked up with the Lightning Network nationwide." Even more interesting, Pomp followed this up on March 3 with atweetannouncing that he had just "finished up first call with someone on Kroger Digital team," and that his followers should "stay tuned" for more updates.
It's hard to say just how far Kroger will run with Pompliano's offer, yet industry figures are more or less unanimous in their views that adoption of Bitcoin payments by a giant like Kroger would be a watershed moment for the industry.
"Adoption of Lightning Network by a major retailer would definitely be a big deal for the entire crypto space," says Vilius Semenas, the chief commercial officer at crypto-payment processor CoinGate. "For bitcoin, exposure to real consumers on such a scale could only do good and pave the way toward another level of adoption."
According to Semenas, there's certainly an appetite among major retailers for a new payment network to replace legacy systems. "The card payments industry is unique in that Visa and MasterCard control the lion’s share of the consumer base," he told Cointelegraph. "At the same time, innovation adoption in this space takes a long time because the market is two-sided and needs adoption from both consumers and retailers. Retailers are naturally frustrated, because they have little-to-no ability to affect card payments, and they would probably turn to alternative payment rails if they could."
CoinGate isn't the only crypto-payment processor who suspects that such retailers as Kroger would prefer to move to more efficient and cost-effective payment systems. BitPay's director of product, Sean Rolland, also told Cointelegraph much the same thing, even if he suspects that it will be a long time before existing systems are replaced by crypto-based alternatives. "No business enjoys high fees," he said. "Legacy payment systems are not going completely away anytime soon, but retailers should always be evaluating better solutions."
Aside from Kroger, there are signs that other big players are entertaining the idea of moving to the Lightning Network and crypto payments. Most notably, Starbucks will begin accepting Bitcoin payments at its U.S. outlets by the end of 2019,accordingto industry rumors. This acceptance comes as part of an equity deal withBakkt, a cryptocurrency exchange and payments platform being launched later this year by Intercontinental Exchange (ICE), the operator of theNew York Stock Exchange(NYSE).
Back in August, the coffee giant wasrevealedas one of Bakkt's key partners, alongsideMicrosoftand consultancy BCG. According to thepress releaseannouncing Bakkt and its partnerships, Starbucks would not only be working with Bakkt to create its platform, but it would also be using the platform to accept crypto payments. In other words, even though the latest reports regarding Starbucks' imminent acceptance of Bitcoin payments are unconfirmed, the company itself had already confirmed that it will be doing this sooner or later, as explained in August by its VP of partnerships and payments, Maria Smith.
"As the flagship retailer, Starbucks will play a pivotal role in developing practical, trusted and regulated applications for consumers to convert their digital assets into US dollars for use at Starbucks," Smith said on the occasion of Bakkt's announcement. “As a leader in Mobile Pay to our more than 15 million Starbucks Rewards members, Starbucks is committed to innovation for expanding payment options for our customers."
This is precisely the arrangement that's now rumored to be launching toward the end of the year. Reports indicate Starbucks will accept Bitcoin payments at its American outlets, but it will immediately convert these to fiat, as indicated by its initial press release from August. So even though the exact launch date hasn't been confirmed, this will prove a massive boost to Bitcoin and crypto payments, and it's hard to imagine that other big companies won't follow Starbucks' lead.
Right now, there are no firm signs that other retailers as big as Starbucks or Kroger will begin accepting crypto payments anytime soon. However, there are a steady supply of slightly less high-profile companies (less high-profile in the U.S., at least) that have begun accepting such payments, or which will do so soon.
In November, Birks Group — one of Canada's largest and oldest jewellery retailers —announcedthat it had begun accepting Bitcoin at eight of its 30 stores inCanada. And in January and February, it became increasingly likely that Rakuten —Japan's largest e-commerce website — would begin accepting crypto, after itestablished a new payments subsidiaryand announced anupdate to its Rakuten Pay appthat would feature support for cryptocurrency payments.
You can still count such companies on one or two hands. However, given their size and clout, their movements into crypto payments are likely to put greater pressure on their rivals to act similarly. As BitPay’s Rolland affirms, "The more retailers that accept bitcoin, the better."
Despite this early movement in the direction of crypto payments, there are still a number of significant obstacles in the way of widespread adoption. Perhaps most difficult of all, there's the chicken and the egg problem: How can big companies adopt crypto payments if not enough consumers hold and use crypto, and how can most consumers come to hold and use crypto if not enough big companies adopt crypto payments?
Acknowledging that many retailers are looking for new payment channels, CoinGate's Vilius Semenas nonetheless warns they're not likely to adopt any channel that doesn't already boast a critical mass of users. "The problem is that there isn’t a payment system adopted widely enough by consumers," he said. "And it is virtually impossible to get consumers to effectively switch to another payment form other than cash."
This is arguably why there aren't more retailers like Kroger, Starbucks and Rakuten, since only around5 percent of Americansown at least one kind of cryptocurrency. It's also why it might be unwise to get too excited about Kroger or Starbucks providing a “tipping point” for crypto payments, since without mass ownership of cryptocurrencies, other companies aren't likely to be swayed too much by the examples these pioneers set. Again, this is a point made by Semenas, who notes that other instances of adoption haven't resulted (at least, not yet) in waves of copycat behavior:
"Whether this could become a ‘tipping point’ leading to a cascade of other merchants starting to accept bitcoin is uncertain. A few months ago, Ohio adopted bitcoin payments for taxes, for example. But it didn’t lead to other states doing the same yet. It would likely depend on the results of the experiment."
There's also the issue that systems like Lightning Network aren't quite ready yet for large-scale deployment. Lightning Network is currently in beta, so the idea that Kroger will drop such processors as Visa in favor of Bitcoin still remains a little fanciful. And as Vilius Semenas notes, many crypto-based payment channels like Lightning Network currently lack the kind of simple-to-use, streamlined interface that would lend them to massive consumer adoption:
"In an ideal world, for a retailer like Kroger, Lightning Network would be the perfect solution to accept consumer payments in a secure, cost-efficient way. Actually, it might be even the only solution that would enable worldwide payments on a scale that Visa and MasterCard currently provide. The major barriers to this would be consumer-friendly technology and convenient interfaces to transact money at the point of sale, rather than capacity constraints of the Lightning Network technology itself."
These words of caution aside, Semenas nonetheless believes that "it is most probably just a matter of time for user-friendly applications to get developed." And given that Lightning Network wasconceived as recently as 2016andlaunched in betaonly last March, it has already come a long way. There's no reason to think that it, Bitcoin and other cryptocurrencies won't go even further in the future.
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• Economic Historian Niall Ferguson: Crypto ‘Won't Turn Out to Be a Complete Delusion' || Former CFTC Chair Gary Gensler Says Crypto Market Needs Regulation in Order to Grow: Former chairman of the Commodity Futures Trading Commission ( CFTC ) Gary Gensler said that the cryptocurrency market needs regulation in order to grow, because consumers must be protected. Gensler shared his views with Cointelegraph at the Business of Blockchain event at the Massachusetts Institute of Technology on May 2. Speaking about the perspective on such services and products as custody and bitcoin ( BTC ) exchange-traded funds ( ETFs ), Gensler argued that for the market to prosper and potentially grow, investors should know that they have both investor and consumer protection embodied in the law in case of market manipulation or losing of private keys, among other issues. When asked whether a bitcoin ETF would be impactful if approved, Gensler stated “the Securities and Exchange Commission [ SEC ] is doing their work to ensure that if there is an exchange-traded fund, that the markets themselves for those exchange-traded funds and the underlying bitcoin or ethereum it’s referencing is not readily susceptible to manipulation.” According to Gensler, it is important to make sure markets are appropriately overseen and sufficiently mature, and that the chance of manipulation is small or very limited. At the MIT Bitcoin Expo 2019 in March, Gensler delivered arguments in favor of extending national level regulation over a broader spectrum of crypto trading, coordinating money laundering prevention and addressing the current regulatory and enforcement discrepancies across different states. At the same conference, SEC Commissioner Hester M. Peirce advocated for a lighter regulatory touch when possible, while affirming that security offerings must comply with the SEC’s registration requirements. Yesterday, current CFTC chairman Christopher Giancarlo said that the agency is expecting more applications to open clearinghouses, driven by increased interest in cryptocurrencies, particularly bitcoin. Related Articles: Former CFTC Exec and Crypto Advocate Bart Chilton Dies at Age 58 Bitcoin Breaks Multiple Supports to Trade Above $5,800 as All Top 20 Coins Rally Crypto Markets See Gentle Green, US Stocks Edge Lower at Opening Bell 80 Firms Including MasterCard, Coinbase Spent $42 Mln Lobbying Crypto, Fintech Issues in Q1 || Facebook crypto will ‘generate billions’ for social media titan: Facebook’s rumoured cryptocurrency will generate billions in revenue for the firm, according to a Barclays analyst. CNBC reports Barclays analyst Ross Sandler yesterday sent a note to clients outlining how Facebook introducing digital currency across Facebook, WhatsApp, and Instagram could land Mark Zuckerberg’s firm $3 billion to $19 billion by 2021. He wrote: “Merely establishing this revenue stream starts to change the story for Facebook shares in our view.” In 2010, Facebook introduced a virtual currency called ‘Facebook Credits’ which failed to catch on, but the analyst says technology has moved on significantly. Sandler added: “Based on our checks, the first version of Facebook Coin may be a single purpose coin for micro-payments and domestic P2P money transfer (in-country), very similar to the original credits from 2010 and Venmo today.” The New York Times recently reported that Facebook is talking to cryptocurrency exchanges about the possibility of listing its own cryptocurrency. ‘Facebook will fail’ Last week, the head of a securities exchange slammed Facebook’s rumoured launch of a cryptocurrency as doomed to failure. Mike Rymanov, CEO of London-based DSX, says he believes Mark Zuckerberg cannot replicate the success of Bitcoin because he cannot replicate the unique structure of the original crypto. “Contrary to popular opinion, it’s Facebook that will fail where Bitcoin has prevailed,” said the entrepreneur. “Bitcoin is doing exactly what it’s supposed to be doing: creating a grassroots movement driven by individuals.” In February, Facebook CEO Mark Zuckerberg said he is eyeing a blockchain-based log-in system for the social media platform, claiming in a Facebook Live video that it would be a more secure option. The 34-year-old billionaire said that blockchain technology could be utilised as a way for users to access, store, and manage private data. “Basically, you take your information, you store it on some decentralised system, and you have the choice of whether to log in to different places and you’re not going through an intermediary,” he said. The post Facebook crypto will ‘generate billions’ for social media titan appeared first on Coin Rivet . || Where Marijuana Mixes With Bitcoin and Blockchain: South by Southwest may be best known for its music and film festivals, but it's the tech portion of the show that attracts many investors -- like us -- to the "Silicon Hills" of Austin, Texas.
Yes, there is the predictable (but important) focus on AR, VR, AI, and self-driving technology. But as Motley Fool analysts Rex Moore and Sam Barker report in the video below, this year's SXSW also featured an industry that may surprise you with its crazy growth, and another many have largely dismissed but is something investors should be paying attention to.
The hottest thing going these days is marijuana, which was mentioned several times in Austin as the fastest-growing industry in the nation. "Cannabusiness" is attracting a lot of money and firepower, including former Speaker of the House John Boehner. He's on the board of Acreage Holdings, a U.S. company involved in cultivating, processing and dispensing the product. Boehner is hoping to lend his expertise as the industry continues its push toward national legalization -- and companies likeCoca-Cola(NYSE: KO),Diageo(NYSE: DEO),Altria(NYSE: MO),Anheuser Busch Inbev(NYSE: BUD), andBoston Beer Company(NYSE: SAM)consider their options for participating in the cannabis boom.
Meanwhile, cryptocurrency and the underlying blockchain technology have slipped back under the radar after the crypto-crash of 2018 saw bitcoin drop over 75% in value. But the industry is alive and kicking... and blockchain technology is being used today in a variety of industries, including supply chain management for healthcare and cannabis.
Finally, Rex and Sam talk about an electric-scooter invasion in America's urban areas and what this means for the future of soon-to-be-public Uber and Lyft.
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Transcript:
Rex Moore:Hi everyone, I'm Motley Fool analyst Rex Moore along with my colleague Sam Barker... and we're at one of the biggest tech shows in the country, South by Southwest. We're bringing you what we think are maybe some of the biggest takeaways.
We've got an infestation of electric scooters, we've got bitcoin and blockchain, and we even have cannabis... marijuana.
Sam, let's start with that. You've written some stories about investing in this industry, what did you see here?
Sam Barker:Yeah Rex, it's been a pretty remarkable show so far. This is the first time they've ever had a "cannabusiness" track here. Usually it's all pretty tech focused, but they kind of bucked the trend this year. One thing that really stood out for me was... I just came back from a conference with Adam Bierman, the CEO and founder of MedMen. It's an upscale cannabis dispensary in the United States.
It was really remarkable the type of growth that industry has seen just over the course of the last couple of years. They were the first cannabis company to get a ten-figure valuation. And he didn't see the impending investments from the big companies like Coca-Cola, Diagio, Altria, or some of the other alcohol companies like Anheuser-Busch and Sam Adams as a threat. Instead, he saw it as validation for the industry. He wasn't even worried about what's going on with cannabis right now. In fact, he said when we see federal legalization he thinks that this industry is going to go from being a caterpillar to a butterfly.
That was really remarkable to hear. He even had a video that company produced that was directed by Academy Award winner Spike Jones. It had actor Jesse Williams starring in it. So it kind of just shows how that has gone from normalized to kind of illegal and frowned upon, and they're trying to bring back that new normal. So that was something fascinating.
Rex:A lot of interest in that among our audience as well. Now something a little less obvious... electric scooters. This wasn't here last year. I've been here a few years in a row, and suddenly you can't walk anywhere without almost getting run down by a scooter.
But the takeaway for investors is like Uber and Lyft... you can get these scooters through those apps, and it's pretty cheap to get from Point A to Point B. Uber and Lyft... they didn't come into being saying, "We're going to take a certain percentage of taxis' business" or whatever. They've greatly expanded the market. Many more people are doing ride-sharing now than at any time else. This just kind of shows you where we're looking for urban mobility and solutions within the cities.
And then finally, an entire section devoted to bitcoin and blockchain, or cryptocurrency and blockchain I should say. Did you see anything interesting there?
Sam:Yeah, so 2017 was when we had the peak, and very soon afterwards we had the downfall of bitcoin. It spiked at over $17,000 for one coin, and then had a precipitous drop right when it became more mainstream and more people started investing in it. But the one thing that kind of lingered around bitcoin still out there and seeing some popularity among investors is the blockchain technology that is built through bitcoin.
There are so many different applications for this blockchain technology. We're seeing it in supply chain management... an example when we had just a couple of months ago we had that big outbreak of I think it was E. coli within a bunch of iceberg lettuce, and they had to take all that lettuce off the shelves. What this blockchain technology can do is instead of having to take every single thing of lettuce off the shelf, if they had a way of tracking which farm had the lettuce that caused this E. coli or a direct link to that exact strain of E. coli that was in there, they could take that lettuce off the shelf. And then suppliers and stores likeWalmartor your local grocery store, they're not going to be seeing losses from taking an entire product off the shelves. They can find which ones were the cause of it and keep the other ones on shelf.
Rex:I think my biggest takeaway is that, people by and large lost interest when the prices crashed in cryptocurrency, but there are thousands and thousands of people working in this industry and it's going to blossom into something, especially blockchain and crypto. So I think investors need to keep an eye on that if it's something that interests them.
So that's it from South by Southwest here in Austin. Thanks for joining us Sam... and Fool on, everyone!
Rex Moorehas no position in any of the stocks mentioned.Sam Barkerhas no position in any of the stocks mentioned. Rex Moore owns bitcoin tokens. Sam Barker has no position in any cryptocurrency mentioned. The Motley Fool owns shares of and recommends Boston Beer. The Motley Fool recommends Anheuser-Busch InBev NV and Diageo. The Motley Fool has no position in any cryptocurrencies mentioned. The Motley Fool has adisclosure policy. || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 06/04/19: Bitcoin Cash ABC gained 2.67% on Friday. Partially reversing a 4.26% slide from Thursday, Bitcoin Cash ABC ended the day at $294.29.
A relatively choppy day saw Bitcoin Cash ABC fall to an early morning intraday low $280.25 before making a move. Steering clear of the first major support level at $267.28, Bitcoin Cash ABC rallied to an intraday high $301.42.
The early afternoon high saw Bitcoin Cash ABC come up short of the first major resistance level at $314.71 before easing back.
The upside through the day saw Bitcoin Cash ABC move back through the 23.6% FIB of $291.
At the time of writing, Bitcoin Cash ABC was down by 1.56% to $289.7. Early moves saw Bitcoin Cash ABC fall from a morning high $295 to a low $285.74 before finding support. Whilst steering clear of the major support levels, Bitcoin Cash ABC fell through the 23.6% FIB of $291.
For the day ahead, a move back through the 23.6% FIB of $291 would support an afternoon recovery. Support from the broader market would bring $295 levels into play before any pullback. Barring a broad-based rally, we would expect Bitcoin Cash ABC to come up short of $300 levels on the day.
Failure to move back through the 23.6% FIB could see Bitcoin Cash ABC take a bigger hit in the day. A fall through the morning low $285.74 would bring the first major support level at $282.55 into play. Barring a crypto sell-off, we would expect Bitcoin Cash ABC to hold avoid sub-$280 levels on the day.
Litecoin rallied by 4.65% on Friday. Reversing a 0.7% fall from Thursday, Litecoin ended the day at $88.88.
A dip to an early morning intraday low $84.13 was the only bearish move of the day. Steering clear of the first major support level at $79.93, Litecoin rallied to an intraday high $90.4.
The breakout saw Litecoin come up against the first major resistance level at $90.40 before easing back. While steering clear of the major support and resistance levels, Litecoin managed to hold above the 38.2% FIB of $83.
At the time of writing, Litecoin was down by 1.28% to $87.74. Litecoin fell from a morning high $88.89 to a low $87.07 before steadying. Litecoin left the major support and resistance levels untested early on.
For the day ahead, a move back through to $88 levels would bring $90 levels back into play before any pullback. Barring another crypto rally, Litecoin will likely fall short of first major resistance level at $91.48. In the event of a broad-based rally, however, a move through to $95 levels could be on the cards.
Failure to move through to $88 levels could see Litecoin fall deeper into the red. A pullback through the morning low to $86 levels would bring the first major support level at $85.21 into play. Barring a crypto meltdown, however, we would expect Litecoin to hold above the 38.2% FIB of $83.
Ripple’s XRP rallied by 10.01% on Friday. Reversing a 2.82% fall from Thursday, Ripple’s XRP ended the day at $0.36635.
A bullish morning saw Ripple’s XRP rally from an intraday low $0.33303 to a mid-morning intraday high $0.38353.
Steering clear of the major support levels, Ripple’s XRP broke through the first major resistance level at $0.3472 and second major resistance level at $0.3613. The day’s third major resistance level at $0.3852 pinned Ripple’s XRP back from more material gains on the day.
Ripple’s XRP eased back to 0.36 levels and a range-bound 2ndhalf of the day.
At the time of writing, Ripple’s XRP was down by 0.94% to $0.36292. A bearish start to the day saw Ripple’s XRP fall from a morning high $0.36706 to a low $0.36177.
Ripple’s XRP steered clear of the major support and resistance levels early on.
For the day ahead, a hold above $0.3615 levels through the morning would support an afternoon recovery. A move back through to $0.3650 levels would bring $0.37 levels into play before any pullback. Support from the broader market would be needed for Ripple’s XRP to take a run at $0.38 levels, however. Barring a broad-based crypto rally, we would expect Ripple’s XRP to come up short of the first major resistance level at $0.3889.
Failure to hold above $0.3610 could see Ripple’s XRP slide back to $0.34 levels before any recovery. Barring a broad-based crypto sell-off, however, we would expect Ripple’s XRP to hold above the first major support level at $0.3384. In the event of a crypto meltdown, a return to Friday’s low $0.33303 could be on the cards.
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According to theBitcoin Cash Block Explorer, the mystery account has made more than 587,000 transactions since it became operational on April 8 of this year.
Many of the transactions are for fractional amounts of BCH and they are made with regularity, with three to four new transactions emerging per second.
Overall, the address has received $22,763.06 (80.981 BCH) at press time and has sent $21,546 (76.654 BCH), leaving it with a balance of $1,216.36 (4.327 BCH).
Over this period of the account’s creation to press time, the whole bitcoin cash blockchain has processed 1.17 million transactions — about half coming from the aforementioned wallet. The frequency of transactions could suggest that someone is attempting to drive up the number of transactions to make the network look a lot busier than it actually is, as one commentatorresponded.
Another theoryis that the miniscule transactions are being performed as a test, potentially for a game, with developers taking advantage of BCH’s low fees.
Bitcoin cash was one of the top five performingcryptocurrenciesof the past week, according to aCointelegraph analysis.
A hard fork of the altcoin isscheduledfor May 15, with a scaling and privacy code change being enforced to improve its privacy and scalability.
OneBCHis worth $287 at press time.
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• Cybercriminals Sneak in Crypto Mining Malware via Confluence Software Exploit || Western Union Partners With Crypto Wallet for Cross-Border Transfers: Western Union Crypto wallet provider Coins.ph has partnered with U.S. financial service company Western Union to enhance cross-border transfers to the Philippines. The partnership will grant over 5 million Coins.ph users access to both local and international payments transferred into their digital asset wallets. According to Coins.ph, the decision to partner with Western Union was based on its desire to ensure that people can receive cash payments from virtually every nation in the world. In an announcement, the blockchain firm said it would harness Western Union’s global reach and position as a leader in money transfers to grow their services exponentially — and hopefully its user base as well. With this partnership, Filipinos will now be able to receive international money transfers that are made from the Western Union platform directly to their Coins.ph wallets. Speaking about the partnership, Ron Hose, founder and CEO of Coins.ph, pointed out that there are millions of Filipino workers abroad who are in search of additional remittance options to help their loved ones receive money more conveniently. “There are an estimated 10 million Filipinos working or residing overseas,” he said, per the announcement. “With this collaboration, we are proud to serve their families back home with even easier access to our suite of services and maximize positive impact on communities in the country.” Coins.ph runs a Bitcoin remittance and brokerage platform with operations in the Philippines, Thailand, Malaysia and Hong Kong. Coins.ph has worked to simplify the process of trading bitcoin through convenience stores, bitcoin ATMs , wire transfers and others. Beyond its crypto purchasing facilities, the company has a mobile wallet and offers financial services like bill payment options, mobile airtime top-ups and cash remittances. The partnership is also a significant boost to Western Union’s blockchain efforts. In an interview last year, Sheri Rhodes, the CTO of Western Union, revealed that the firm was interested in blockchain technology and also confirmed that it was in partnership with Ripple Labs to test the cost and speed of sending money over a blockchain. This article originally appeared on Bitcoin Magazine . || The story of the Venezuelan petro and what the future might hold: Venezuela, a nation with the largest oil reserves in the world and which is currently ravaged by hyperinflation, is the first nation to create its own cryptocurrency, called the Venezuelan petro. Petro is an interesting name to choose. The “petrodollar” was originally used as the term for how the United States dollar became the global reserve currency. Through its partnership with the OPEC nations and with oil having to be purchased in US dollars, the USA was able to tighten its grip of hegemony on a large part of the world. Venezuela and its president Nicolas Maduro though have rarely ever been fans of the United States. Here is the story of how the Venezuelan petro came to be and what its future might hold. The beginnings of the Venezuelan petro There are a few people (such as Max Keiser) that have long argued for nation states to throw away the shackles of traditional currencies and embrace Bitcoin. Keiser even approved of the idea of the Venezuelan petro. Nations such as Iran, Russia, and Venezuela are subject to United Nations sanctions that are used as a deterrent for so-called “bad behaviour”. These sanctions can have harmful effects on the economies of these states. Unfortunately, it is the citizens that usually suffer and not those in charge. By embracing Bitcoin, an uncensorable form of money, these states could in effect get around such sanctions. Yet they have chosen not to do so as Bitcoin is not a currency that they can control themselves. Instead, there were rumours that these countries might create their own cryptocurrencies. Venezuela was the first to do so with the petro. Unfortunately, the petro was released in February 2018, just as the whole market of cryptocurrencies was beginning to retrace dramatically. According to the white paper, the petrodollar was initially going to be an Ethereum token. However, it was then launched as a NEM token instead. The cryptocurrency was also supposed to be backed by Venezuela’s oil reserves, although this again doesn’t seem to have come to fruition. Maduro has also claimed that the country will release the Venezuela Petro Gold, a coin backed by gold reserves. Story continues Currently, the petro is supposedly available on six different exchanges. It is unlikely that you will have ever heard of any of them. False promises and uncertainty Maduro has said that in 2019 the country will be selling oil for the petro. Whether any nation will want to participate in such a deal appears unlikely though. With the geopolitical tensions as they are in Venezuela with a possible regime change to replace Maduro with Juan Guiado, there is no guarantee that the petrodollar cryptocurrency is going to be around for the foreseeable future. In August, Venezuela replaced its currency the Bolivar Fuerte with the Bolivar Soberano. The new currency had a direct link to the petro cryptocurrency. Russia has been accused of helping Venezuela with its cryptocurrency project, which has led to more sanctions being placed upon them by the US. The case for cryptocurrency in Venezuela The severe economic hardship being suffered in Venezuela currently has led many citizens to become more attracted to Bitcoin. This has seen Bitcoin and cryptocurrency usage in the state increase with people turning to Bitcoin and alternatives such as Dash. For the state itself, it has large gold reserves. However, these are not stored by the state, but rather by states such as the Untied Kingdom. When Venezuela attempted to repatriate its own gold it was turned down. With Bitcoin, the country would not have these worries. Why the Venezuelan Petro is doomed to failure There are numerous reasons why the petrodollar of Venezuela will never be a success. Firstly, having a state-backed cryptocurrency is no different than having a state-backed fiat currency. There is no decentralisation – if Maduro suddenly wishes to stop petrodollar transactions or place the project in the proverbial bin, then he will do so. On top of this, having presided over the terrible economic crisis that is taking place within Venezuela right now, it begs the question – would you trust Maduro to make more of a success with a cryptocurrency? The only solution for nation states is not to create their own cryptocurrencies. They would have to use a decentralised coin already on the market such as Bitcoin – but again this is unlikely to happen. The benefits that cryptocurrencies can provide are nullified if a central authority such as a government or bank can control it. Conclusion The Venezuelan petro is unlikely to become a mainstream cryptocurrency. The control that Maduro’s government has over the cryptocurrency means that the coin is about as useful currently as the Bolivar Soberano. This coupled with the political uncertainty within the country paints a bleak picture for the experiment. Whilst other cryptocurrencies such as Bitcoin and Dash have provided useful alternatives for the Venezuelan people, the petro has been a mere sideshow and another money-grab attempt. The post The story of the Venezuelan petro and what the future might hold appeared first on Coin Rivet . || Money 2.0 Stuff: 1 in 5 Millennials prefers Bitcoin to…gold?: On surveys When it comes to building a market edge, investment funds have several tools at their disposal. High frequency trading firms invest heavily in financial data and servers, allowing them to formulate and execute profitable trades before competitors. Macro hedge funds look to synthesize both quantitative data and qualitative analysis in order to inform outlooks on the relative strength and weaknesses of a nation’s economy. Venture funds build deal flow through their sprawling networks. The common thread tying these seemingly disparate investment strategies together is the use of surveys. Perhaps the most high profile use of surveys in recent times came from the Brexit Big Short , where several hedge funds hired international polling firm, YouGov, among others, to conduct private exit-polling on the results of the UK referendum to leave the European Union. Join Genesis now and continue reading, Money 2.0 Stuff: 1 in 5 Millennials prefers Bitcoin to…gold? !
[Random Sample of Social Media Buzz (last 60 days)]
this is your #goddess Naomi aka NJ. I need some loyal #subs, #betamales and #cuckfucks in my hand right now.
I take paypal, cashapp, googlepay, circle pay, venmo and bitcoin. (theres no excuse)
I’m a spoiled brat so get over it. 🥰🖕🏽
#EbonyGoddess #ebonyfindom #ebonybrat https://t.co/bhuLuV4lWq || April 12, 2019 8:00 am
Bear Market Blues: Bitcoin Hardware Wallet Ledger Could Lay Off 10% Employees - CCN
#Bitcoin - Bitcoin #BTC
https://www.cryptocash-news.com/bear-market-blues-bitcoin-hardware-wallet-ledger-could-lay-off-10-employees-ccn/ … || $BTC : -0.25% 5096$
Top (last h):
$MXM : +3.52% 1152st
$GXC : +2.60% 25895st
$CRO : +2.48% 1411st
$HC : +1.41% 29023st
Worst (last h):
$NAS : -2.13% 27719st
$MKR : -2.00% 12169816st
$FCT : -1.87% 167579st
#cryptocurrency #blockchain || 1. #BTC: $5808.54 (-0.32%)
2. #ETH: $164.06 (-1.99%)
3. #XRP: $0.30 (-2.09%)
4. #BCH: $291.92 (-2.2%)
5. #LTC: $77.34 (-2.68%)
6. #EOS: $4.94 (-2.02%)
7. #BNB: $23.02 (-1.47%)
8. #USDT: $1.00 (-0.06%)
9. #XLM: $0.10 (-3.09%)
10. #ADA: $0.07 (-4.69%)
#blockchain #crypto #altcoin || #Doviz
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#USD : 5.4740
#EUR : 6.2152
#GBP : 7.2035
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#BTC
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#Gobaba : 25297.56
#BtcTurk : 22749.00
#Koinim : 22900.99
#Paribu : 22848.97
#Koineks : 22995.00 || How to Trade Bitcoin Options in the United States: Bitcoin options can be used by traders to bet on the price of bitcoin using leverage or to hedge their digital asset portfolio. In this guide, you will discover what bitcoin options are, why they… https://t.co/UHusCvtEEO #BMJ https://t.co/MJ0mxw5jdZ || 長期で買うなら仮想通貨のファンダメンタルが整いつつ、BTCに徐々に資金が入り始めfinexXRPBTCL：XRPUSDS値が0.8以下でBTC→XRPに流入しやすい市場環境で買うことをおすすめするフシ。今はどちらかというXRPがBTCに対してまだ買われすぎてる状態だと思うフシ。大きく資金移動したあともないフシ。 || Total Market Cap: $171,457,896,739
1 BTC: $5,280.49
BTC Dominance: 54.39%
Update Time: 28-04-2019 - 09:00:02 (GMT+3) || [http://CoinNess.com Market Surveillance April 27: BTC Is Trading Above $5250]
As of 03:00 (UTC) on April ...
https://bi.city/s/CVvgb pic.twitter.com/im5MvE5MgW || Top 5 Cryptocurrencies - Current Prices
Bitcoin $BTC: $5,250.30 +0.17%
Ethereum $ETH: $157.95 +0.20%
XRP $XRP: $0.29444698 -0.39%
EOS $EOS: $4.59 0.00%
Litecoin $LTC: $69.51 +0.24%
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Trend: up || Prices: 6378.85, 7204.77, 6972.37, 7814.92, 7994.42, 8205.17, 7884.91, 7343.90, 7271.21, 8197.69
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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 2015-11-17]
BTC Price: 335.09, BTC RSI: 52.10
Gold Price: 1068.70, Gold RSI: 24.02
Oil Price: 40.67, Oil RSI: 35.31
[Random Sample of News (last 60 days)]
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 || MarilynJean Media Interactive (OTCQB:MJMI) Today Announced Cancellation of Over 100,000,000 Convertible Preferred Shares: HENDERSON, NV / ACCESSWIRE / September 22, 2015 / MarilynJean Media Interactive ( MJMI ) today announced cancellation of over 100,000,000 convertible preferred shares representing over 35% of its fully diluted share total. As previously disclosed, on March 28, 2013, we acquired 100% of the issued and outstanding common shares of MarilynJean Media Inc.. Pursuant to that transaction, 106,651,250 Exchangeable Preferred Shares were issued. These were convertible into common shares of our Company on a one-for-one basis. On September 22, 2015 all 106,651,250 Exchangeable Preferred Shares were cancelled and returned to treasury, pursuant to Return to Treasury Agreements entered into with the holders of these shares. The shareholders agreed to cancel the shares and return them to treasury, in consideration for the issuance of promissory notes in the aggregate amount of $226,756. The promissory notes are due and payable upon our company completing a financing for gross proceeds of not less than $375,000. The cancelled shares represent 35.4% of the Company's fully diluted share total. Peter Janosi, MJMIs president said: With the cancellation of a significant portion of the Company's fully diluted share total, we believe we have dramatically increased the companys options for financing and growth. 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. Story continues 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 focussed on bitcoin and the crypto-currency space. The company's trading symbol is OTCQB:MJMI. Website: www.marilynjean.com Press Contact: [email protected] SOURCE: MarilynJean Media Interactive || Small Businesses Turn To Online Lenders: The tech sector has reached into a new industry over the past year, as more firms rush tomake loansto small businesses. Despite the U.S.'s recovery since the financial crisis, banks have been cautious about doling out small business loans.
In 2008, banks held $711 in small business loans; that figure has decreased significantly to just $599 billion as of the second quarter of 2015. For that reason, there has been a gap in the marketplace as entrepreneurs look for ways to fund their growing companies.
Lending To Well Known Firms
While small business owners might be required to make a pitch to a bank or private investor in order to secure funding, some companies are using their existing relationships with entrepreneurs in order to make loans.
Intuit Inc.(NASDAQ:INTU) together withOn Deck Capital Inc(NYSE:ONDK) havelaunched a financing productthat allows users of the firm's QuickBooks to secure small loans.
Related Link:Intuit And OnDeck To Launch 0M Small Business Lending Fund
The firm is able to use existing data from the user to determine how risky the loan would be, making it easier to deliver lower-rate loans for businesses with strong financials.
Knowledge Is Power
Other firms have created similar programs that use data gathered from customers in order to determine whether a loan is worthwhile.
Online lender Kabbage Inc. has partnered withUnited Parcel Service, Inc.(NYSE:UPS) to make loans using the firm's shipping history as a gauge of how many orders they're fulfilling.PayPal Holdings Inc(NASDAQ:PYPL) similarly uses vendors' transaction history to determine whether a loan would be high-risk.
High Interest Rates
However, such loans can be difficult for small business owners to repay. As online lenders become plentiful, many are jockeying for clients by offering more money at higher rates.
The ease of borrowing money online has also given rise to a slew of cash advance firms that are able to approve huge sums of money quickly, but charge annual percentage rates of more than 100 percent.
Image Credit: Public Domain
See more from Benzinga
• Logistics Firms Prepare For 3D Printing's Future
• The Biggest Losers From Monday's Market Meltdown
• Louis C.K. Embraces Bitcoin
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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 thatit would offer its own smartphone-based payments serviceto 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 said14 more banks had joined its payments serviceincluding 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 ruleDespite 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.
Less than 1% of transactions used Apple Payat 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 BitcoinAmid 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 transactionswas 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. || What to Expect from Overstock.com's (OSTK) Q3 Earnings?: Overstock.com Inc.OSTK is expected to report third-quarter 2015 results after the closing bell on Oct 22. Last quarter, the company posted a negative earnings surprise of 46.15%.
Let us see how things are shaping up for this announcement.
Factors to Consider
Overstock’s second-quarter 2015 earnings of 7 cents missed the Zacks Consensus Estimate by a significant margin while revenues of $398 million beat the consensus mark of $387 million.
Overstock, a Bitcoin supporter, hopes to reinvent the public stock market using cryptosecurities, or virtual stocks based on Bitcoin's blockchain technology. Bitcoin is a digital currency platform with no central regulating authority involved in the transactions. It is also called crypto currency because it utilizes military-grade cryptography to protect users against fraud. Bitcoin and other cryptocurencies operate on blockchain which is a distributed public ledger.
Cryptosecurities will likely bring the next major change in the stock market. With the SpeedRoute deal, Overstock will enter a new financial technology space. SpeedRoute’s infrastructure and underlying technologies will help the company to connect t0 securities trading platform with the entire U.S. equity market. This will enhance transparency and efficiency of the existing capital markets, which was the basic idea behind t0.com.
The blockchain technology allows investors and buyers to trail down their purchases and ownership of cryptosecurities, ensuring complete transparency. Moreover, the t0.com blockchain technology facilitates same-day settlement of the securities.
In June, Overstock offered its first corporate bond, worth US$25 million, as cryptosecurities to qualified institutional investors. This revolutionary development is part of the company's larger cryptofinance initiative known as Medici.
Stocks to Consider
Here are some companies, which you may consider as our model shows that they have the right combination of elements to post an earnings beat this quarter:
Here are some companies which you may consider instead, as our model shows they have the right combination of elements to post an earnings beat this quarter:
Pandora Media, Inc. P with an Earnings ESP of +50.00% and a Zacks Rank #1 (Strong Buy).
Anika Therapeutics Inc. ANIK, with an Earnings ESP of +2.94% and a Zacks Rank #1.
SkyWest Inc. SKYW, with an Earnings ESP of +4.55% and a Zacks Rank #1.
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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 reportSKYWEST INC (SKYW): Free Stock Analysis ReportPANDORA MEDIA (P): Free Stock Analysis ReportANIKA THERAPEUT (ANIK): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || Bitcoin spikes 70% in a month; nobody knows why: Bitcoin(:BTC=), the world's most popular digital currency, has been on a roll — but no one is really sure why.
After dipping well below $200 in January, bitcoin traded at more than $410 Tuesday afternoon before cutting some of those gains, according to the CoinDesk Bitcoin Price Index. That's about 25 percent higher than the same time last year but well below the historical high of about $1,150.
This upswing, which began about a month ago when bitcoin traded below $240, comes on the heels of a steady stream of good news for the digital asset and its associated ecosystem. But even with recent favorable regulatory rulings, press coverage and business investments, experts in the space are struggling to explain the one-month jump of more than 70 percent.
For comparison, gold(CEC:Commodities Exchange Centre: @GC.1)is down about 5 percent on the year, and slightly negative on the month.
Some have attributed the size of the recent jump toinvestors' fear of missing out (FOMO), while others such as "Fast Money" trader Brian Kelly point to ecosystem headlines like theWinklevoss twins launching their exchangeand the Digital Currency Groupannouncing fundingfrom Bain and MasterCard(MA).
But bitcoin has boasted a steady parade of media highlights and major investments from important financial firms all year, so it's not immediately obvious why this past month would mark a turning point.
Read MoreWhy financial firms are investigating bitcoin tech
Brendan O'Connor, the CEO of bitcoin trading firm Genesis Global Trading, told CNBC he has no easy answers about the price jump. Although he said rumors were flying around the community about international rings of traders teaming up to drive up the exchange rate, O'Connor was unable to confirm anything he'd heard.
For its part, Genesis Global is experiencing a "dramatic increase in activity" from renewed interest in bitcoin as a tradable asset, O'Connor said.
"When the price starts going up, people start coming out of the woodwork," he said. "We're setting new records almost on a daily basis for amount traded and number of transactions."
Read MoreBitcoin to be 6th largest reserve currency by 2030: Research
It should be noted that bitcoin is a relatively illiquid market, so its exchange rate against major world currencies has been historically volatile. Still, O'Connor said volume from the Chinese bitcoin market has been "off the charts," so there may be a genuine upswing in interest from that region.
In fact, Kelly suggested in a Tuesday note that Beijing's tightening of capital controls may have spurred some of the recent price gains.
Additionally, many in the bitcoin community insist that the daily price of the cryptocurrency is not a relevant metric, as it distracts from the world-changing potential of the technology.
Others worry that the cycle of mainstream media coverage on bitcoin's price will recreate a story they've seen before:
More From CNBC
• Top News and Analysis
• Latest News Video
• Personal Finance || 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) || PRESS DIGEST- New York Times business news - Nov 5: Nov 5 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.
- Expedia Inc said it had agreed to acquire HomeAway Inc for $3.9 billion, adding vacation rentals to its wide swath of online travel booking options. (http://nyti.ms/1MdPtXu)
- Facebook Inc on Wednesday posted another quarter of robust revenue growth - up 41 percent in the third quarter from a year earlier, to $4.5 billion - fueled by its mobile advertising business and an increase in daily users. (http://nyti.ms/1GMEMyi)
- A Senate committee has started an investigation into the large drug price increases by Turing Pharmaceuticals and three other companies such as Valeant Pharmaceuticals Inc, responding to public concern about escalating prices for critical medicines. (http://nyti.ms/1OpOV6D)
- After a long period of quiet, the price of the virtual currency Bitcoin is surging again as signs of interest from China and Wall Street have helped kick off a new speculative frenzy. (http://nyti.ms/1Sq3Uwa)
- The U.S. Federal Reserve could raise its benchmark interest rate in December as long as economic growth continues, two senior Fed officials said on Wednesday, hammering that message in repeated public remarks. (http://nyti.ms/1Wxp9Sq) (Compiled by Rishika Sadam in Bengaluru) || Bitcoin Gaining Traction At Colleges Around The World: The purpose of higher education is to provide students with the tools they need to enter their chosen profession. Real-world skills have long been an emphasis at top schools around the world, and now those skills include an in depth study on cryptocurrencies like bitcoin. As digital currencies gain momentum across the globe, universities are taking notice and adding bitcoin courses to their syllabuses in order to keep up with the quickly changing fintech landscape. Teaching In An Evolving Field American Universities like Massachusetts Institute of Technology and Duke University only recently launched bitcoin classes, but others around the world have been offering such courses for years. The University of Cumbria was the first U.K. university to offer bitcoin courses and the University of Nicosia in Cyprus was one of the first to offer a free bitcoin course in 2013 to any interested parties. Related Link: New Ruling Defines Bitcoin As A Commodity In The US Bitcoin Adoption Universities that offer bitcoin studies are creating a major stepping stone for the cryptocurrency as it expands further. Not only do the classes give the best and brightest the tools to solve real-world problems related to digital currencies, but they draw awareness to cryptocurrencies as well. Canadian McGill University and MIT both offered bitcoin giveaways to students in an effort to give the cryptocurrency more traction on campus. Others like the U.K.'s Imperial College have dedicated research to the expanding field and given students and staff the opportunity to collaborate in order to solve some of the cryptocurrency's pressing issues. Bitcoin Payments Not only are schools offering their students a chance to learn more about bitcoin, but many are accepting the cryptocurrency as payment for their studies as well. In 2013, the University of Nicosia in Cyprus was the first college in the world to accept bitcoin as a form of payment. The school announced that its students could pay for courses and other fees using the cryptocurrency, and had its first student pay in bitcoin just weeks later. Story continues See more from Benzinga As Adults Embrace Marijuana, Teens Turn Their Noses Up Here's How The Fed's Decisions Will Affect Central Bankers Around The World Pentagon Working To Overhaul Cybersecurity Protocol © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Trading Bitcoin Binary Options: Bitcoin. This may be something you wish you knew more about. You may have heard about trading Bitcoin and wondered how you could do it. It may seem unreal since it does not involve anything tangible.
A visit to the web page informs the visitor, “Bitcoin is an innovative payment network and a new kind of money.” It further notifies the public, “Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.”
Bitcoin was invented in 2008. In early 2010, each Bitcoin was worth only $0.04. Just last week, on October 29, it was reported that Bitcoin was trading above $314, near the highest since December 2014. This rise in price was thought to be related to the Fed statement that had been released the day before, but also strongly tied to China easing which appears to go straight to Bitcoin.
Today, reported Bitcoin trading at more than $410, a price jump of more than 70 percent in one month. According to an article on , after the price jump, there was a massive sell off causing the digital currency to drop by nearly $50. This article attributes the volatility to the influx of new Chinese buyers who have caused this surge “in order to bypass China’s tightened capital controls.”
As you can see from the news reports above, Bitcoin can be insanely volatile. It can move 40 percent in one day. In checking current charts, Bitcoin has rebounded and is currently trading around $470.
In order to illustrate different ways Bitcoin can be traded, let’s look at how Bitcoin was trading on October 29. Look at the chart below.
To view a larger image, click HERE.
This is a Nadex Bitcoin daily chart, which can be accessed from their trading platform. You can see that Bitcoin has surged up through 314. There was some long-term resistance at 314. The market had tested that level in January, February, June and July before breaking through on October 29. When this happens, you can usually expect that it will meet a little more resistance and then pullback.
There are a couple of different ways you can play this. You could expect it to expire below the high of the day at 319. If so, you could check out available strikes that you could sell. When you check for a contract, sometimes there may not be many contracts left, because of the surge in the market. Nadex offers bitcoin binary options with 21 strike prices for the 3:00 PM ET daily expiration, except on Fridays, which lists 15 strike levels. The interval width between each strike level is 1.5.
The next image shows the different strike prices that were available at the time. When you look for the sell strike, you see that there is a 315.5 available for around $21. Choosing this trade would allow you to make a little bit of premium if you wanted to go short.
To view a larger image, click HERE.
If you believe the market will stay above 314, you can look at buying a contract. Again, checking the strike prices, there is one available at 314 for about 65, with the profit potential of $35.
For October 29, it appears that 314 is the magic number, the resistance level right now. By knowing this information, you can have a better understanding of the expectations of the market. Here is another image taken a short time after the other image, which showed strike prices. You may notice that both the buy and sell prices have increased as has the indicative index.
To view a larger image, click HERE.
However, for this example, with the strike 314 at 70.75, it is $0.76 above the strike. There is a high expectation of the market staying above 314.
Remember, the first chart was a daily chart. For a better analysis on either of these trades, it would be wise to look at a smaller time frame chart in order to see what you could actually do. When you look at a five-minute chart, it shows how the market popped up and then promptly turned around and went down. Here is a five-minute chart:
To view a larger image, click HERE.
Further analysis using the five-minute chart shows that if there was a shark in the waters and they wanted to push the market a little farther, it is possible they could have caused the big green bar that broke through the 314 resistance. The next green bars are other traders coming in thinking there is a big rally. Take note here, all of a sudden at the short red bar, they start getting rid of their trades. Next, they dump off the rest and everybody bails. This is how it usually goes in trading. This is how you learn to follow the sharks without getting eaten by them and staying out of their way. The sharks will go in, pump up the market and then sell it off. You get your one warning shot, the short red bar, and then BAM! It is over.
With any trade, but especially one with high volatility, make sure that you define your risk when you trade. Risk management is essential to being a profitable trader. To further your trading education, visit , a service of Darrell Martin.
See more from Benzinga
• An Evening For A Scheduled News Trade With The USD/CHF
• Reports Of The Aussies Employed And Unemployed Provide After Work Trade Opportunity For US
• Record Highs Reported By Nadex For Three Consecutive Quarters
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
$393.40 at 12:45 UTC [24h Range: $364.37 - $502.00 Volume: 103890 BTC] via #btcusdpic.twitter.com/CcsogFIw5s || 1 #BTC (#Bitcoin) quotes:
$276.75/$277.48 #Bitstamp
$271.00/$271.99 #BTCe
⇢$-6.48/$-4.76
$278.40/$278.40 #Coinbase
⇢$0.92/$1.65 || In the last 10 mins, there were arb opps spanning 6 exchange pair(s), yielding profits ranging between $0.00 and $52.87 #bitcoin #btc || 1 #BTC (#Bitcoin) quotes:
$236.69/$236.70 #Bitstamp
$235.00/$235.01 #BTCe
⇢$-1.70/$-1.68
$239.33/$239.38 #Coinbase
⇢$2.63/$2.69 || #BTC is $483.00 http://bit.ly/1LfnSIe || 1 #bitcoin 929.16 TL, 302.51 $, 279 €, GBP, 19426.14 RUR, 39500 ¥, CNH, 378.00 CAD #btc || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000003
Bittrex: 0.00000003
Average $8.0E-6 per #reddcoin
00:45:01 || In the last 10 mins, there were arb opps spanning 11 exchange pair(s), yielding profits ranging between $0.00 and $2,300.32 #bitcoin #btc || One Bitcoin now worth $245.97@bitstamp. High $246.43. Low $243.00. Market Cap $ 0.000 Billion #bitcoin pic.twitter.com/a1c0lyiADX || 1 #BTC (#Bitcoin) quotes:
$237.00/$237.29 #Bitstamp
$235.96/$236.41 #BTCe
⇢$-1.33/$-0.59
$237.94/$237.99 #Coinbase
⇢$0.65/$0.99
|
Trend: up || Prices: 334.59, 326.15, 322.02, 326.93, 324.54, 323.05, 320.05, 328.21, 352.68, 358.04
|
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)]
ProShares Seeks Waiver From CME for Position Limits on New Bitcoin Futures ETF: Report: ProShares, the sponsor of the first-ever exchange-traded fund (ETF) backed by bitcoin futures, has applied for a waiver to limit the amount of bitcoin futures a buyer can purchase in the new fund, Barron’sreported.
• Starting with the November front-month contract, the Chicago Mercantile Exchange (CME) will limit the number of futures a buyer can buy in the new ETF to 4,000, dropping to 2,000 three days before expiration. As each contract represents five bitcoin, total ownership is limited to 20,000 bitcoin.
• To get around this limit, ProShares has already split its futures portfolio, with half in October and half in November.
• CEO Michael Sapir told Barron’s that if the CME doesn’t grant the waiver, ProShares could shift assets into later-dated contracts, structured notes or swaps. Barron’s also noted that ProShares’ prospectus for the ETF says the fund could also invest in equities with crypto exposure. || SEC Chair Gary Gensler Reiterates Support for Bitcoin Futures Products: This article was originally published on ETFTrends.com. SEC Chair Gary Gensler reiterated his support for Bitcoin futures-linked products in prepared remarks for the Financial Times “Future of Asset Management North America Conference” on Wednesday. Gensler had previously indicated in remarks to the Aspen Security Forum in August that the regulator might look more favorably on ETFs planning on holding Bitcoin futures contracts than products planning to directly hold bitcoin. Soon after those remarks, a number of issuers filed to launch Bitcoin futures products with the SEC. Gensler referenced the onslaught of Bitcoin futures filings in his remarks earlier this week, saying, “we’ve started to see filings under the Investment Company Act with regard to exchange-traded funds (ETFs) seeking to invest in CME-traded bitcoin futures,” going on to add, “When combined with other federal securities laws, the ‘40 Act provides significant investor protections for mutual funds and ETFs.” Gensler ended the portion of his comments related to crypto assets by saying that he was looking forward to the SEC staff’s review of filings for Bitcoin futures ETFs. Despite the long wait for a Bitcoin or Bitcoin Futures-based ETF, it has actually been a good year for investment vehicles with exposure to crypto assets. This year saw the launch of open-ended mutual funds invested in CME-traded Bitcoin futures, which have laid the groundwork for a potential Bitcoin futures ETF. The Bitcoin Strategy ProFund (BTCFX) is one such fund, and it has seen steady growth since its late-July launch, showing that investors are eager for products with exposure to Bitcoin in any form. BTCFX primarily holds Bitcoin futures contracts and aims to give investors exposure to Bitcoin through a familiar investment vehicle with multiple layers of investor protections. See Also: Why Products Holding Bitcoin Futures Are Different Than Products Holdings Bitcoin BTCFX invests specifically in “front month” futures contracts, which are the most liquid kind of futures contract, as well as the closest to the underlying asset's spot price. The fund does not hold bitcoin directly. Story continues ProFunds affiliate ProShares is one of several issuers with a Bitcoin futures ETF proposal under review at the SEC. However, the regulator has yet to announce a decision on any of the 20-odd crypto asset ETFs currently under review. For more news, information, and strategy, visit the Crypto 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 Travel ETFs Climb on Hopes of Merck’s Oral COVID-19 Drug AllianzIM Launches New Buffered Outcome ETF, SIXO Innovator Announces New Upside Caps for October and Quarterly Defined Outcome ETFs™ The October Series of Structured Outcome Strategy Pacer ETFs Has Launched Innovator Launches Six New ETFs READ MORE AT ETFTRENDS.COM > || AUD/USD Price Forecast Australian Dollar Hugging 200 Day EMA: After the Reserve Bank of Australia suggest that it was a bit more dovish than people thought, the Aussie dollar got absently hammered. At this point, we are sitting just above the 0.74 handle, which is a crucial support level based upon the action over the last several months. That being the case, the 50 day EMA is also worth paying attention to as it sits just below it. All things been equal, if we turn around and break above the 0.75 level it would be a very strong sign and should send this market much higher. AUD/USD Video 04.11.21 That being said, the Australian dollar is a little bit of an outlier right now, due to the fact that the RBA of course suggests that perhaps things are much more dovish than thought. That being said, Australia also continues to be a bit of a laggard due to the fact that it shot itself in the foot locking everybody down, so it will be interesting to see what the direction ends up being. If the US dollar strengthens overall, that would be very negative for this pair, and this would be the first place I would start buying greenbacks. On the other hand, the US dollar gets hammered, and of course the Federal Reserve meeting during the day could have some effect on that, then I think this is a market that could rip right back to the upside as commodity market certainly favor the idea of a stronger Aussie dollar. 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: Silver Price Forecast Silver Markets Get Pummeled USD/JPY Price Forecast US Dollar Continues to Consolidate Against Japanese Currency Crude Oil Price Update Downside Momentum Targets $80.04 to $79.12 CVS Could Rally Towards $100 as Covid Vaccines and Prescription Volumes Boost Earnings Miami Mayor Announces He Will Receive His Paycheck in Bitcoin (BTC) E-mini S&P 500 Index (ES) Futures Technical Analysis Close Under 4621.50 Forms Closing Price Reversal Top || Tether Settles a $1 Trillion Lawsuit Regarding Manipulation: The U.S District Judge Katherine Polk Failla, who was in charge of the case, ruled in their favour. She dismissed half the claims that the plaintiffs presented against the defendants. The remaining claims, Tether and Bitfinex, described them as meritless. Hence, they are not willing to settle with them. The Market Manipulation Saga The plaintiffs who presented the case to the court said that the accused were deceptive, market manipulative, and anti-competitive. As a result, they claimed to have lost money. In over five years, Tether issued unbacked USDT tokens. Bitfinex would later purchase cryptocurrencies on the open market to increase the price during market plunges. According to the complaint, this caused the total market capitalization of cryptocurrencies to skyrocket to $795 billion in late 2017. The plaintiffs are five crypto traders who claim they purchased cryptocurrencies at inflated prices and suffered financial losses as a result. As a class action, the suit represents anyone in the United States who inflated prices may have harmed. However, the defendants lawyers argued in a supporting memorandum that the case would fall apart. Because of the accusation, Tether printed its USDT stablecoins without any solid backing based on the allegation. There is no direct knowledge and proof of the matter. They also argued that the plaintiffs had not shown that cryptocurrency prices were indeed artificial at that time. Based on the memorandum, the court would dismiss claims of market manipulation and RICO conspiracy. The reason is that the plaintiffs cant prove they suffered a monetary loss at the defendants hands. The court would also dismiss claims of anti-competitive and monopolistic behaviour. The class action failed to demonstrate how defendants attempted to claim a dominant market position by raising prices. Lawsuit After Another In 2019, New York state Attorney General Letitia James said they were investigating Bitfinex. Tether also came into the spotlight because of the exchanges affiliation with it. The case revolved around the alleged $850 million cover-ups for a loss. It was around this time that the Tether lawyer admitted that Tether was only 74% backed. Story continues Tether was able to settle the case with New York state. Tether got barred from doing business in New York under the terms of the settlement agreement. Bitfinex and Tether did not admit wrongdoing, but the court fined them $18.5 million. The court also asked Tether to provide quarterly reserve reports for the next two years. There have since been more lawsuits, both major and minor, regarding Tether and Bitfinex. This article was originally posted on FX Empire More From FXEMPIRE: Daily Gold News: Thursday, Sep. 30 Golds Consolidation Following Yesterdays Decline Buying Bitcoins With ATMs? Kraken Says It Is Not As Secure As You Think Bitcoin Price Prediction Bulls Eye a Return to $45,000. Avoiding sub-$42,500 Will be Key
Bitcoin is Under Pressure, and the Anticipated $100K by the End of the year Looks Beyond the Reach. GBP/USD Price Forecast British Pound Attempts Recovery USD/CAD: Loonie Strengthens Despite Strong Greenback; Depreciation Risk Remains High || Ethereum Settles Over $6 Trillion In Transactions In Last 12 Months: Over $6 trillion in transactions were settled on the Ethereum (CRYPTO: ETH ) blockchain over the last year. What Happened: According to a report from crypto research platform Messari, Ethereum has settled $6.2 trillion in transactions over the last 12 months. This figure is up 369% compared to 2020, and was powered by a strong Q3 where Ethereum settled $1.5 trillion, commented Messari analyst Ryan Sean Watkins. In the past 12 months Ethereum settled $6.2 trillion in transactions. This figure is up 369% compared to 2020, and was powered by a strong Q3 where Ethereum settled $1.5 trillion. Probably nothing. pic.twitter.com/O7Kx9OgWqF Ryan Watkins (@RyanWatkins_) October 4, 2021 Ethereum is the second-largest cryptocurrency by market cap and the smart contract platform that facilitates most NFT and decentralized finance (DeFi) activity today. More than half the value of the networks settled transactions, worth $3.3 billion, can be attributed to the growth of stablecoins on Ethereum. During the same period last year, there were $888 million in stablecoins on the network. This is the kind of 4.7x that I really want to see. Prices are one thing, protocol adoption is another, commented crypto YouTuber Coin Bureau . ETH Price Action: Ethereum was trading at $3,426 Tuesday morning. The cryptocurrency has rallied by 16% over the last week and gained 43% over the last three months. Image by Zoltan Tasi on Unsplash. See more from Benzinga Click here for options trades from Benzinga Bitcoin, Ethereum Miner Hive Blockchain Reports 466% Year-Over-Year Revenue Surge Bank Of America Bullish On Bitcoin, Says Crypto Market Too Large To Ignore © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Dogecoin watch out! 'Shiba inu' token muscles into cryptocurrency top 10: By Tom Wilson and Medha Singh (Reuters) -Dogecoin, watch out! Meme-based cryptocurrency shiba inu soared more than 45% over the past 24 hours, muscling into the top-10 largest digital tokens by market capitalization. Shiba inu is a spinoff of dogecoin, itself born as a satire of a cryptocurrency frenzy in 2013, and has barely any practical use. Yet its price has rocketed around 160% this week, according to CoinMarketCap, leapfrogging dogecoin to become the No. 8 cryptocurrency, with a $42 billion capitalization. "It seems driven by fad buyers hoping to get in now and flip later to what will need to be a new series of buyers at even higher prices," said Rick Meckler, partner at Cherry Lane Investments in New Vernon, New Jersey. "This makes it closer to a collectible market than a currency market, and as such determining value with traditional analysis seems impossible." Trading in shiba inu is volatile, and by midday New York time it had given up most of the day's gains, but was still up around 7%. Bitcoin, the biggest cryptocurrency with a market cap of $1.2 trillion, was up around 4%, but below its record high from last week. Known as "shib" to a growing army of retail investors, shiba inu coins are worth a fraction of a cent. Its website calls it "a decentralised meme token that has evolved into a vibrant ecosystem". Driving the gains, analysts said, is the promise of quick gains - a key factor behind the broader explosion of cryptocurrencies during the COVID-19 pandemic. Others said crypto-specialist market makers were trading large volumes of the token. "People are always looking for 'the next Bitcoin'," said Mati Greenspan, founder of crypto analysis and advisory firm Quantum Economics. "Get rich quick is a very powerful motivator." Expectations of more mainstream acceptance was also driving gains with talk the meme-based cryptocurrency could be traded on a major retail brokerage. "Shiba has posted incredible gains on speculation that it will rival or replace the concept of dogecoin and its utility," said Chris Kline, co-founder of Bitcoin IRA. But while shiba inu has attracted new investors to the market, its lack of any real use case makes its sky-high valuation tough to justify, said Jack McDonald, CEO of PolySign, a digital asset custody solutions firm for institutional investors. "While shiba inu has made people some fortunes lately, I don't want to be holding this when the music stops," he said. (Reporting by Tom Wilson in London, Medha Singh in Bengaluru, and John McCrank in New York; Editing by Kirsten Donovan and Daniel Wallis) View comments || ISW Holdings Announces Phase 1 of 200 MW Southeastern US Cryptocurrency Mining Project Nears Completion: LAS VEGAS, Oct. 19, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- ISW Holdings, Inc. (OTC: ISWH) (ISW Holdings or the Company, transitioning to BlockQuarry, pending name change), a Nevada-based portfolio company with primary commercial-stage operations in Cryptocurrency Mining, is pleased to announce that the first phase of its Southeastern U.S. project to pair 56,000 mining rigs with 200 megawatts (MW) of power is now nearing completion, which constitutes the infrastructure build-out to deploy 20 MW of power to self-contained cryptocurrency mining Pods. Larry Sossamon, President, and Chic Blanton, Vice President of Sossamon Construction Co., Inc., commented, We are very excited to be working with the Bit5ive team, a leading pioneer in the crypto mining space, on this exciting project. We have made excellent progress as we near completion of the first phase of over 200MW of crypto mining parks in South and North Carolina. These projects represent some of the most innovative of their kind, and stand to create many new jobs and new opportunities in the area. Company management also notes that Bit5ive will begin delivering the first tranche of new mining Pods to the site over coming weeks. Even with supply chain issues, we have managed to manufacture in record time, noted Alonzo Pierce, Chair and President of ISW Holdings. We will continue to do our best to hit our schedule objectives despite difficult market conditions, and we are thrilled to start deploying our Gen4 Pods to the site as the project ramps up. We are also excited to report that engineering and planning have gotten underway on the next sites to be developed starting in early 2022. About ISW/BlockQuarry ISW/BlockQuarry Corp is quickly becoming one of the largest Mining and Hosting providers in the digital currency space in North America, as we seek to transform the financial markets of the future. Our complement of cutting-edge technologies has enhanced the Bitcoin/Cryptocurrency ecosystem, enabling our customers to take advantage of real-time cost savings. At the same time, our customers can feel confident that their digital transactions and assets are entirely secure. Our company utilizes a scalable blockchain infrastructure to convert unique identifiable assets (UIAs) into interchangeable digital assets such as Bitcoin and other fungible digital assets. We offer immediate liquidity in the form of fast, confidential transactions, as well as the issuance of assets in the traditional capital markets. Story continues Forward Looking Statements This press release may contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology including "could," "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" and the negative of these terms or other comparable terminology. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this report. Except as required by applicable law, we do not intend to update any of the forward-looking statements so as to conform these statements to actual results. Investors should refer to the risks disclosed in the Company's reports filed from time to time with OTC Markets ( www.otcmarkets.com ). Company Contact: [email protected] Public Relations EDM Media, LLC https://edm.media Corporate Communications: InvestorBrandNetwork (IBN) Los Angeles, California www.InvestorBrandNetwork.com 310.299.1717 Office [email protected] || NFL players investing in crypto is ‘only going to grow’: Agent: Conversations around bitcoin ( BTC ), ethereum ( ETH ), and other cryptocurrencies are now becoming commonplace in NFL locker rooms. With some of the league’s most notable players like Tom Brady and Aaron Rodgers joining cryptocurrency sponsorships — and even giving away free bitcoin — curiosity about crypto investing and endorsements has risen among the thousands of millionaires in the NFL ecosystem. “It's only going to grow,” Wasserman Executive Vice President of Football Doug Hendrickson told Yahoo Finance. “The more prevalent people that are talking about crypto and all that’s out there, it's going to be more in play than not going forward.” Oct 14, 2021; Tampa Bay Buccaneers quarterback Tom Brady in the tunnel against the Philadelphia Eagles at Lincoln Financial Field. Credit: Eric Hartline-USA TODAY Sports (USA TODAY USPW / reuters) Hendrickson, who has been representing NFL players since 1999, said an increasing number of players have shown an interest in where their money is being invested. The agent estimated that about 60% of NFL players have an idea of how their financial advisor is handling their money and whether it’s beating investment benchmarks like the S&P 500 ( ^GSPC ) or the Dow Jones Industrial Average ( ^DJI ). And as players see other investors come away with large returns, they have become more interested in volatile assets like cryptocurrencies. Crypto investing is 'probably not' right for most players The fact that NFL athletes are discussing investments with each other is a seismic shift in the world of these highly paid players; investments and sponsorship deals used to be a don’t ask, don't tell part of the business. “We used to have a rule in the locker room where the coach said, ‘Hey, you can't bring in business deals, you can't bring in and introduce people to financial advisors,” Pro Football Hall of Famer Terrell Davis recently told Yahoo Finance. “So they kind of nip that to where you weren't allowed to talk about money and deals in the locker room.” Davis won Super Bowls with the Denver Broncos during the 1997 and 1998 seasons and admitted he doesn’t know much about cryptocurrency outside of occasionally discussing it with friends. Story continues But these days, as video advertisements of Brady with FTX or Rodgers with Cash App circulate around social media, it’s hard for players to not hear about each other's investments, Hendrickson said. That means players in the league now are far more exposed to what their colleagues are doing with their money than when Davis finished his career in the early 2000s. Stoked to partner with @SBF_Alameda and @FTX_Official as we continue building the future of crypto. I hear we’re headed to the moon? pic.twitter.com/BdReBkNfxg — Tom Brady (@TomBrady) June 29, 2021 As investor gains are scattered over social media, these players now face a dilemma: Is the risk worth it? High-paid stars like Brady, who has amassed about $290 million in NFL contracts, can afford to lose a few million dollars in a riskier investment. Many other NFL players can’t. For now, most players are being advised to be careful with their cryptocurrency exposure. While the interest is there, the institutional adoption of cryptocurrency hasn’t yet reached a point where players are confident that it’s a safe place for their money. “NFTs, crypto, [venture capital] deals, tech deals, all these different things these players want to try to get involved with,” Hendrickson said. “And I think it comes down to: Is it right for that player?... Truthfully, for most players, it’s probably not.” Read the latest financial and business news from Yahoo Finance Follow Yahoo Finance on Twitter , Instagram , YouTube , Facebook , Flipboard , and LinkedIn || ETF Battles: AQWA Vs FIW Vs PHO: Why water funds might offer bigger growth versus technology. ETF Battles breaks down the differences between theGlobal X Clean Water ETF (AQWA), theFirst Trust Water ETF (FIW)and theInvesco Water Resources ETF (PHO).
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Permalink| © Copyright 2021ETF.com.All rights reserved || Vancouver-Based CFO Joins Ambitious Bitcoin Venture Launched by UK Entrepreneur: Vancouver, British Columbia--(Newsfile Corp. - October 7, 2021) - Mine One Blockchain Inc. announces an exciting new Bitcoin venture launched by a UK entrepreneur has appointed an experienced financier to drive forward its ambitious growth plans.
A Canadian-based company launched by UK-based businessman Alex Lineton, has ambitions of floating a Bitcoin business on the Toronto Stock Exchange after investing $500,000 in a Canadian mining venture.
Mine One Blockchain has already been successful in raising capital despite its infancy - and now hopes the appointment of Vancouver-based Mat Lee as its new CFO will ramp up their plans.
Vancouver-based Mat Lee has been appointed CFO of Mine One Blockchain Inc, a Bitcoin venture launched by UK entrepreneur Alex Lineton.
To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/8274/98935_mathew_lee_2021-5-edit.jpg
Mr. Lee is a chartered accountant with more than 13 years' experience in audit, finance, public company financial reporting and operations management.
"I'm extremely excited to be involved," said Mr. Lee. "The management team Alex is putting together is quite talented."
"I like the fact we've already had some initial success in raising capital and we have a good line of clean energy."
"It seems everyone is set on doing things correctly and by the book, which for me is very important."
Before setting up his own CFO services, specialising in the mining and technology sectors, Mr. Lee previously held the position of financial controller at a private real estate investment firm that operates two funds with combined assets under management of $140m in Canada and the US.
Prior to that, he was operations manager for Canada's largest independent investment dealer, Raymond James, also based in Vancouver, with revenues in excess of $300m and assets under administration in excess of $33 billion.
Mine One Blockchain CEO Alex Lineton said: "The reason we wanted Mat on board is because he has a fantastic reputation in the region."
"We're trying to build this company properly from the ground up. We're not trying to skim on anything."
"So to get Mat on board is a massive feather in our cap and speaks volumes about the potential of the venture, and the confidence he has in what we're building."
"He was someone we targeted from the start. Sets a precedent and a standard of what we're trying to do."
Bitcoin mining, which is growing hugely in the US, is performed by high-powered computers that solve complex computational math problems, with miners using increasingly complex machinery to speed up mining operations and 'mint' Bitcoins.
But there's a worldwide shortage of Bitcoin miners after China shut down mining operations earlier this year.
Canada - which is the world's fourth-highest producer of hydro power - currently has 8% spare hydro energy capacity.
And with Bitcoin mining demanding huge amounts of energy, Mr. Lineton has acquired spare, carbon neutral hydro capacity in Canada to run a sophisticated Bitcoin mining operation.
Mr. Lee said: "There are some companies operating across the border in Washington to gain access to cheap energy. Having said that, I don't think there are many using clean energy in this way, which is why I'm excited to be involved."
"Bitcoin can be polarising. There are some demographics who don't quite get it. But there are many who do and love it. It promotes decentralised finance. There's still a lot of education surrounding cryptocurrency, but that education should be straight forward when the time comes."
"Bitcoin will continue to grow as more businesses, customers and vendors accept it as a formal currency."
"The market price can be fairly volatile, but the general day-to-day use of Bitcoin will continue its trend for the foreseeable future."
"The structure and the low cost of operations of Mine One Blockchain will speak well to the market. I'm happy to be involved with the company and I'm looking forward to working with the team."
With two recent increases in its value jumping from the level of $29,000 on July 20 to a high of over $54,000 in October, Mr. Lineton says the combination of Canada's spare power capacity together with the growing price of Bitcoin convinced him to target Vancouver.
Contact:[email protected]
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/98935
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 57248.46, 57806.57, 57005.43, 57229.83, 56477.82, 53598.25, 49200.70, 49368.85, 50582.62, 50700.09
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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 2019-03-27]
BTC Price: 4087.07, BTC RSI: 62.05
Gold Price: 1309.90, Gold RSI: 52.74
Oil Price: 59.41, Oil RSI: 61.80
[Random Sample of News (last 60 days)]
Traders Who Shorted Bitcoin From All-Time High $20,000 are Cashing Out: Is The Bottom is Near?: Bitcoin, bitcoin price 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 Dows short contract on Bitcoin in December. Speaking to Bloomberg, on Dec 18, 2018, Dow said : Im done. I dont want to try to ride this thing to zero. I dont want to try to squeeze more out of the lemon. I dont want to think about it. It seemed like the right time. Read the full story on CCN.com . || New Platform Converts Crypto to Fiat Without Know Your Customer Requirements: CryptocurrencywalletMyEtherWallet (MEW) in collaboration with crypto finance firm Bity are releasing a platform to convertcryptocurrencyto fiat without Know Your Customer (KYC) requirements. MEW announced the news in ablog postpublished on Feb. 20.
Per the announcement, users of the MEW V5 wallet are now able to exchange up to 5,000 Swiss Francs ($4,995) worth Bitcoin (BTC) and Ethereum (ETH) to euros and Swiss francs without going through KYC requirements inside the wallet. Users can purportedly make the exchange from any part of the world.
KYC procedure enable organizations to verify the identity of their customers before or during dealing with them. Businesses can assess whether their clients are involved in illegal activities like money laundering or corruption.
To use so called “Exit-to-Fiat” option, customers have to choose the target digital and fiat currencies in the wallet dashboard. Users will further be asked to provide some personal data, including their phone number, banking details, official name of theirbankaccount, and the billing address needed for compliance purposes.
Enhanced privacy and anonymity of cryptocurrencies have always beenlinkedby the governments and regulators to illicit activities and the possibility of money laundering. Last month, the Cyberspace Administration ofChina(CAC)introducednew regulations for blockchain firms that are operating in the country.
The CAC guidelines require blockchain startups to allow authorities access to stored data, and to introduce registry procedures that would require ID card or mobile numbers from its users. Moreover, they will be obliged to oversee content and censor information that is prohibited under current Chinese law.
In April 2018, Amazon Technologies, Inc.receiveda patent for a streaming data marketplace that would permit the combining of multiple data sources, thereby enabling the real-time tracking of cryptocurrency transactions and the users involved. This would essentially lead to the de-anonymization of transactions involving Bitcoin, Ethereum or any other non-privacy cryptocurrency.
• Bitcoin Hits $4K for the Fourth Time in 2019, Stocks Jump Amid US–China Trade Talks
• Report: Major European Derivatives Exchange to Launch Cryptocurrency Futures
• Crypto Markets Show Slight Decline, as Do Dow Jones Industrial and S&P 500
• Crypto Markets Trade Sideways After Recent Gains, Stock Market Sees Green || US Stocks Recover from Lackluster Session Amid Trump’s Flexibility on Trade Deadline: The major U.S. equity indexes posted a lackluster two-sided trade on Tuesday before finishing slightly better for the session. Investors came back from the extended holiday week-end with very little guidance. This created uncertainty which encouraged investors to trim positions and book profits. Late in the session, stocks mounted a strong comeback after President Trump hinted once again he may push back a key trade deadline.
On Tuesday, the benchmarkS&P 500 Indexsettled at 2779.76, up 4.16 or +0.15%. The blue chipDow Jones Industrial Averagefinished at 25891.32, up 8.07 or +0.03% and the technology-drivenNASDAQ-100 Indexclosed at 7486.77, up 14.36 or +0.19%.
The S&P 500 Index was underpinned by a strong performance in the materials sector. The Dow Jones Industrial Average was supported by shares of Walmart which rose more than 2 percent after the company reported better-than-expected earnings before the opening bell. The retailer also reported e-commerce sales grew by 43-percent in the previous quarter. The NASDAQ Composite was boosted by more than 1 percent advances in shares of Amazon and Netflix.
Last week, the Dow and the NASDAQ finished higher for an eighth straight week, while the S&P 500 notched its seventh weekly win out of eight. Furthermore, the S&P 500 Index is also trading above its benchmark 200-day moving average. Additionally, more than 50 percent of stocks in the index are above their 200-day moving average.
Despite starting the week with renewed concerns over U.S.-China trade relations, on balance the risks remained skewed to the upside. Last week’s high level negotiations in Beijing seemed to be a positive for the markets although no major details on the progress of moving toward a trade deal were released. All Treasury Secretary Steven Mnuchin said about the talks was “So far, so good.”
Talks between the two economic powerhouses are continuing this week. Ahead of the start of new talks in Washington, Trump said that trade talks with China are going well, adding the current March deadline is not a “magical date.” According to the original deal reached in early December between the U.S. and China, both countries have until March 1 to reach a new trade agreement, or the U.S. can impose additional tariffs on Chinese products.
Essentially, just the fact that both sides are talking seems to be enough to underpin the stock market. We haven’t seen any breakthrough at the talks, but then again no side has walked away. Trump’s comments on Tuesday provided just enough support to lift some of the uncertainty at the start of the trading week.
Thisarticlewas originally posted on FX Empire
• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 20/02/19
• GBP/USD Price Forecast – British pound continues to show strength
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• Bitcoin And Ethereum Daily Price Forecast – Trade Volume Hits Multi-Month High’s Hinting at Continued Positive Price Action
• Bitcoin – Holds onto $4,000 Levels as the Bulls Search for More
• NZD/USD Forex Technical Analysis – February 20, 2019 Forecast || Darling Ingredients Inc (DAR) Q4 2018 Earnings Conference Call Transcript: Logo of jester cap with thought bubble with words 'Fool Transcripts' below it Image source: The Motley Fool. Darling Ingredients Inc (NYSE: DAR) Q4 2018 Earnings Conference Call February 28, 2019, 10:30 a.m. ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Good morning, everyone, and welcome to the Darling Ingredients Inc. conference call to discuss the company's fourth quarter and year end 2018 financial results. On the call today are Mr. Randall C. Stuewe, Chairman and Chief Executive Officer, Mr. Brad Phillips, Executive Vice President and Chief Financial Officer, Mr. John Bullock, Executive Vice President and Chief Strategy Officer, and Ms. Melissa Gaither, Vice President of Investor Relations and Global Communications. After the speakers' opening remark, there will be a question and answer period. An instruction to ask a question will be given at that time. Today's call is being recorded. I would now like to turn the call over to Melissa Gaither, Vice President of Investor Relations and Global Communications for Darling Ingredients. Ms. Gaither, please go ahead. Melissa Gaither -- Vice President of Investor Relations and Global Communications Thank you, Nicole. Good morning, everyone, and thank you for joining us to discuss Darling Ingredient's earnings results for the fourth quarter and fiscal year ended December 29, 2018. To augment management's formal presentation, please refer to the presentation section of our IR website for the earnings slide presentation. Randy Stuewe, our Chairman and CEO, will begin today's call with an overview of our fourth quarter and fiscal year operational and financial results, focusing on year-over-year comparison, and will discuss some of the trends impacting our business. Brad Phillips, Executive Vice President and Chief Financial Officer will then provide additional details about our financial results. Finally, Randy will conclude the prepared portion of the call with some general remarks about the business and the year ahead, after which we'll be happy to answer your questions. Story continues More From The Motley Fool 10 Best Stocks to Buy Today 3 Stocks That Are Absurdly Cheap Right Now 5 Warren Buffett Principles to Remember in a Volatile Stock Market The $16,728 Social Security Bonus You Cannot Afford to Miss The Must-Read Trump Quote on Social Security 10 Reasons Why I'm Selling All of My Apple Stock Please see the full disclosure of our non-US GAAP measures in both our earnings release and earnings slide presentation. Now, for the safe harbor statement. This conference call will contain forward-looking statements regarding Darling Ingredient's business opportunities and anticipated results of operations. Please bear in mind that forward-looking information is subject to many risks and uncertainties, and actual results may differ materially from what is projected. Many of these risks and uncertainties are described in Darling's annual report on the Form 10-K for the year ended December 29, 2018, in our recent press release announced yesterday, and filings with the SEC. Forward-looking statements in this conference call are based on our current expectations and beliefs, and we do not take any duty to update any of the forward-looking statements made in this conference call or otherwise. Now with that, I'll turn the call over to Randy. Randall Stuewe -- Chairman and Chief Executive Officer Thanks, Melissa. Good morning, everyone. Thanks for joining us. We carry solid momentum into 2019 as we position Darling as one of the most sustainable and green companies in the world. The fourth quarter truly showed the diversity and consistency of our global ingredients platform and the potential that Diamond Green Diesel has to supercharge Darling's future. During the year, we executed four bolt-on acquisitions and commissioned seven new and expanded plants that increased our capacity for premium sustainable ingredients. Looking to 2019 and beyond, we have eight additional facilities under construction, including four new plants, to meet the growing demand for Peptan, our specialty collagen product. You can view a list of these projects and their expected completion and timing on earnings on the earnings call slide number three. Now, for 2018, we grew our raw material volumes by 3.3% year-over-year, including growth of 1.5% during the fourth quarter. We delivered annual-adjusted EBITDA $431.4 million without the benefit of the blender's tax credit. And Diamond Green Diesel generated $65 million in partner dividends this year. Year over year, our earnings were flat, but keep in mind we sold our environmental services business early in the year; we wrote our plasma inventory in China down; FX for both the EUR and CAD were weaker, and we faced a stagnant protein market and a significantly lower fat market during the year. Overall, the team executed well. And the diversity and consistency of our platform is quite evident. Additionally, we continue to be optimistic the blender's tax credit will be reinstated during 2019. It should be noted that 2018 earnings would have been approximately $90 million higher had the BTC been in during the year. This is a combination of both Diamond Green Diesel and our fuel segment. Now, let's pivot our review to the fourth quarter segment performance. Our teams managed well through challenging pricing markets, trade disruptions, and a slow recovery from our extended downtime at Diamond Green Diesel during the third quarter. The feed segment benefited from robust raw material supplies globally but battled stagnant and deflationary finished pricing for fats and proteins, as compared to 2017. Clearly, our extended shut down at Diamond Green Diesel and ample palm oil supplies weighed on the fat markets, proteins continue to feel the trade disruptions related to China and the record slaughter volumes. Global pricing is improving across the fats and protein markets, and we feel quite confident that our future results will portray this fact. Our specialty ingredients business embedded in the feed segment continues to perform well, reporting strong margins and record volumes. Our acquisition of Triple T Wet Pet, a specialty pet food operation in Springdale, Arkansas, added to our footprint and our market share in this growing market. Also, we are excited about the progress of EnviroFlight, our joint Venture with Intrexon. This is the largest black soldier fly protein facility in the US. And phase one production commenced in the fourth quarter. And during the quarter, we also acquired a new organic fertilizer production facility in Turlock, California, which will enable us to grow our production of Nature Safe organic fertilizer. Now, our food segment, anchored by our global collagen business, rebounded nicely and posted a solid quarter. Both Rousselot South America and China reported a strong year, and 2019 looks to be off to a very good start. Peptan, our specialty collagen product, is rising to meet global demand and achieved record production levels, with further expansion within our operations in Brazil and France expected to come online during the first half of this year. Our fuel segment, which is a combination of our green energy businesses, delivered consistent earnings on strong volumes across Europe. Ecoson, our European bioenergy business, capitalized on higher volumes from phase one expansion of the digester in Denderleeuw, Belgium, and the return of our Netherlands facility to full capacity, after being curtailed for most of 2017. Rendac, our European disposal rendering business, also had a solid quarter generating strong volumes and earnings growth in the Netherlands and Belgium. Despite the absence of the blender's tax credit, our biodiesel businesses remain steady compared to last year, and they were benefiting from the lower fat prices. In the fourth quarter, Diamond Green Diesel displayed its true potential. The facility resumed production and quickly ramped up to its boilerplate capacity of 275 million gallons per year. For the quarter, we produced 73 million gallons of renewable diesel, delivering a record 110 million of EBITDA on 66 million gallons of sales. Operating margins were a $1.67 a gallon for the quarter and averaged a $1.19 for the full year. For 2019, we anticipate operate at or above nameplate capacity, and we expect full-year margins to be in the $1.25 to $1.40 per gallon range. Diamond Green Diesel continues to capitalize on the premium LCFS markets, and the JV generated partner dividends of $40 million each in the quarter. Construction on our phase three Super Diamond expansion is already under way. And when complete, it will produce an additional 400 million gallons of renewable diesel and 50 to 60 gallons of renewable naphtha. The estimated cost of the facility is around 1.1 billion. And we anticipate start-up in the latter half of 2021. On Monday, I visited the facility, and one slide 10 of our earnings call presentation, you will see the progress as we prepare the sight. Permits are pending, and we are anxiously awaiting the start of construction. Now, with respect to the BTC, we remain optimistic Congress will provide a legislative vehicle to renew and extend the BTC during 2019. As you may or may not know, the BTC is part of 28 extenders that Congress has not renewed. From all of our visits to the Hill, we can report that bipartisan discussions are under way to move this issue forward. Now, before I turn the call over to Brad, I'd like to revisit a point on the Valero Fourth Quarter Earnings Conference Call. During that call, the Credit Suisse analyst asked the value of Darling Ingredients and Valero maintaining the Diamond Green Diesel partnership. Martin Parrish, Valero's Senior Vice President of Alternative Fuels, did a great job in answering that question when he explained how integral Darling is to the partnership. I'd like to paraphrase his answer because I think it's valuable for our shareholders and analysts to keep top of mind. Martin states, "Darling is one of the largest processors of animals fats and used cooking oil in the world. In fact, Darling processes over 10% of the world's meat industry by-products annually. In doing so, we have created a raw materials supply chain to support Diamond Green Diesel that will be very hard and very expensive to recreate. And it would be complicated to maintain a stand-alone supply network without the balance of our food and feed businesses working in concert with the supply chain. Darling has unique expertise in pretreating the fats and oil feedstocks to optimize the refining process, which Valero has immense expertise in. Valero brings their unrivaled skill in engineering and operating a state of the art renewable diesel refinery as well as marketing operations that ensure the partnership maximizes its unique position to the LCFS markets around the world." Martin and I both agree that Diamond Green Diesel is truly more valuable with both companies involved, due to our combined innovation and expertise. So with that, I'd like to turn it over to Brad to give you a few financial highlights. Brad Phillips -- Executive Vice President and Chief Financial Officer Okay. Thanks, Randy. For the fourth quarter 2018, we reported consolidated net sales of $853.1 million compared $952.5 million for the comparable 2017 period. For fiscal 2018, net sales were $3.4 billion compared to $3.7 billion for fiscal 2017. These declines were primarily a factor of lower finished fat product pricing, the closing of the company's Hurlingham, Argentina, facility, the deconsolidation of the company's BestHides subsidiary during 2018, reclassed billed freight recorded in cost of sales in 2018, as compared to net sales in 2017, and the divestiture of our industrial residuals business earlier this year. We posted net income in Q4 of $40.6 million, or $0.24 per diluted share, compared to net income of $105.7 million, or $0.63 per diluted share for the 2017 fourth quarter. Fiscal 2018 net income was $101.5 million, or $0.60 per diluted share, compared to $128.5 million, or $0.77 per diluted share, for fiscal 2017. The declines of net income were primarily driven by an income tax expense of $8 million and $12 million in the fourth quarter of '18 and fiscal '18, respectively, compared to income tax benefits of $85 million and $69.2 million in the 2017 fourth quarter and fiscal 2017, respectively, due to the remeasurement of deferred tax liabilities per the US tax cuts and Jobs Act and benefits from European tax reform. Additionally, in fiscal 2018, we had debt extinguishment costs, Argentina restructuring costs, and a loss on the sale of the industrial residual sector. Substantially offsetting these declines, as reflected in our substantial increase in income before income taxes for both the fourth quarter and fiscal 2018, was a significant increase in out equity and net income of our unconsolidated subsidiary, Diamond Green Diesel, which was partially due to recording the 2017 blender's tax credit in 2018. SG&A was $76.4 million and $309.3 million for the 2018 fourth quarter and fiscal year, respectively, compared to $89.9 million and $343.5 million for the 2017 fourth quarter and fiscal year, respectively. The decrease was primarily due to lower wages and benefits, which were partially due to the closure of the Argentina collagen facility and the sale of the industrial residual sector, both in the second quarter of 2018. Interest Expense declined $2.5 million year-over-year, primarily due to a lower interest rate on the company's €515 million senior notes resulting from the May 2018 refinancing of the notes from 5.75% to 3.625%. I want to briefly mention taxes. The company reported income tax expense of $12 million for fiscal year 2018. The effective tax rate is 10.2%, which differs from the statutory rate of 21%, due primarily to the retroactive reinstatement of the biofuel tax incentive for 2017, recorded in 2018. Tax law changes in the Netherlands and changes in valuation allowances primarily related to losses that provided no tax benefit. The biofuel tax incentive expired as of the end of fiscal '17. Excluding the impact of the 2017 biofuel tax incentive and tax law changes, the effective tax rate for fiscal 2018 is 34.4%. Cash tax payments were $33.2 million in 2018, compared to $26.3 million in 2017. We are projecting the fiscal year 2019 effective tax rate to be 35% excluding the biofuel tax incentive. If the tax incentive is reenacted retroactively for fiscal year 2018, the effective tax rate is projected to be 20%. Finally, we are projecting cash taxes of approximately $40 million for fiscal 2019. Now, as for the balance sheet, working capital improved by $10.5 million in 2018 compared to 2017. And capital expenditures for 2018 totaled $322 million, compared to $274.2 million in 2017. We received $65 million in cash dividends from Diamond Green Diesel during 2018. And our total debt-to-EBITDA ratio per the bank covenants improved to 3.13 from 3.47 at the end of '17. Our liquidity remains strong with approximately $929.8 million available under our revolving credit facility. With that, I'll turn it back over to you, Randy. Randall Stuewe -- Chairman and Chief Executive Officer Hey, thanks, Brad. Overall, we are pleased with the achievements for the quarter and the year. We took several strategic actions to mitigate global macro challenges and continued to focus on opportunities to optimize our platform, strengthen our financial position, and leverage and grow our scale to capture opportunities and deliver on our world of growth strategy. Our strong free cash flow allowed us to deploy $322 million of maintenance and growth capital, with an additional $108 million of strategic acquisitions to build upon our sustainable portfolio of value-added and specialty ingredients. In 2019, we expect to invest approximately $300 million in maintenance and growth capital for several strategic projects noted in our slide deck, while maintaining capital discipline across the company. Additionally, we continue to take pride in our on-going corporate social responsibility disclosure, making significant achievements that demonstrate our commitment to drive meaningful progress toward a cleaner, safer, and sustainable environment. Towards this end, we are showing specific updates on our website, such as our latest video animation highlighting our biofuel stories at Diamond Green Diesel. If you haven't already watched the video, I encourage you to do so. Also, we continue to strengthen our corporate governance with the recent appointment of Nicole Ringenberg as a director. Nicole's appointment aligns well without governance strategy. And after a 32-year career with Monsanto, she brings unique and strategic insights related to sustainable, agricultural solutions, global operations, and with a strong emphasis on Asia, corporate finance, and advancing diversity across our workforce. We look forward to providing more updates on our on-going environment, social, and governance effort across the company. With that in summary, we're excited about the strength of our business, our future market position, and our near-term and long-term growth opportunities. So with that, let's go ahead and open it up to questions, please. Questions and Answers: Operator Thank you. We will now begin the question and answer session. To ask a question you may press * then 1 on your touchtone phone. If you're using a speakerphone, please pick up your handset before pressing the keys. To withdraw your questions, please press * then 2. Our first question comes from Heather Jones of Vertical Group. Please go ahead. Heather Jones -- Vertical Group -- Analyst Good morning, everyone. Randall Stuewe -- Chairman and Chief Executive Officer Good morning, Heather. Brad Phillips -- Executive Vice President and Chief Financial Officer Morning. Heather Jones -- Vertical Group -- Analyst I have just a couple of questions. Randy, you mentioned that global fat pricing has started to improve. And I just was wondering if you could take us through how you view the cadence of the year because, as you know, there's a number of mandate increases around the world. But palm oil production remains strong and all. So, how are you thinking about what that price curve looks throughout the year? Randall Stuewe -- Chairman and Chief Executive Officer We've had a lot of discussion around the table on that. Coming out of December into January, it felt pretty weak throughout the world. We saw some pretty big softening happen in Europe, which is usually pretty steady. But now, here in January and into February, we've seen Europe start to bounce back. The US was a main driver here. We just kinda had a hangover from that extended downtime at Diamond Green Diesel. And then, the slaughter here has been around record levels, and we expect it to remain record levels. And with cheaper feed grains and inputs, you tend to put more weight on the animals. So, at the end of the day, there's ample supplies here, but we're starting to see them move up. For the first time, we're seeing some strength on the west coast in our fats now. We're also starting to see Europe come back. Europe will be much stronger, I believe, in second quarter than first. So, I think it's a pretty strong bell curve here. If you follow the palm oil kinda reports and predictions, they're at the peak of their production, and then it starts to scale down as you go forward here. And at the end of the day, I think you're gonna produce less fat in China this year than you have in the past. And so, I think the S&D and the global balance sheet would continue to tighten as we go forward, and we'll just see what happens. So, right now, we're pretty bullish the back end of the year here. Heather Jones -- Vertical Group -- Analyst Okay. Thank you. Been thinking about the blender's tax credit. So, you expressed confidence that it gets reinstated. Let's consider a scenario where it doesn't. And given the higher advance mandate and the BOHO spread is not nearly as favorable as it was last year. Where do you think rend need to go to stimulate the kind of production we would need for those mandates? John Bullock -- Executive Vice President and Chief Strategy Officer Yeah, Heather, this is John. Overall, if we don't see the blender's tax credit come back, then you would anticipate that we would see higher-end prices develop as we go through the course of the year. How quickly that'll happen, who knows. But it certainly looks like it needs to move to a higher level to be able to set the type of production that there is demand for out there now. Heather Jones -- Vertical Group -- Analyst Okay. Thank you so much. Operator Our next question comes from Ken Zaslow of Bank of Montreal. Please go ahead. Kenneth Zaslow -- Bank of Montreal -- Analyst Hey, good morning, everyone. Randall Stuewe -- Chairman and Chief Executive Officer Good morning, Ken. Brad Phillips -- Executive Vice President and Chief Financial Officer Morning. Kenneth Zaslow -- Bank of Montreal -- Analyst With the accent -- or for the time being, the BTC, how should we think about the near-term profitability of the feed segment, yellow grease prices, used cooking oil? How do you think about that? Randall Stuewe -- Chairman and Chief Executive Officer I'm gonna talk sequentially, Ken. We saw a small -- our tonnage between Q3 and Q4 was bigger in Q4. And pricing on the fats was even lower. Proteins were pretty stagnant, if you will, out there. The west coast proteins continue to be pretty weak. And European proteins backed off quite a bit during the quarter. We're starting to see that all turn around, and I don't know that I would tie any of that to the BTC. We're seeing the animal fats move up a little bit, here in the US. And clearly, there's a spread used cooking oil's a pretty substantial premium to yellow grease or animal fats in the US. I think the world's ramping up again on biofuels around there, and I think we'll see some pretty good strength coming on here as we go forward. So, my anticipation is that the feed segment will start to show some improvement here in Q1, and more in Q2, and gonna get much stronger in Q3, Q4 for us. Kenneth Zaslow -- Bank of Montreal -- Analyst And can you just go through your capex projects and the returns that you expect to have in 2019 and 2020? How do we think about the incremental -- because it sounds like you have a lot of projects going on. And just what's the incremental profitability that we should associate? Randall Stuewe -- Chairman and Chief Executive Officer Right. In our K we released around I wanna say -- the maintenance and capex, environmental sustaining capex in the company now, with the size that we are is around 200. And there's about $100 million of growth or efficiency type of capex going in there. As always, we won't breakdown by project for competitive reasons, but we will tell you that all those projects return in the 15% to 20% return. From our perspective, we expect to see anywhere from $15 million layered on, incremental EBITDA coming forward. Kenneth Zaslow -- Bank of Montreal -- Analyst And you're a CEO who tends to really focus on returns, and it's also about shareholder value. My question -- and this is kind of out the sky. Would you ever think about separating the companies, given the different divergence of profitability, DDG on a different path, maybe, than the other? And is there a value somewhere in that? And I know that's a random question, but just a thought. Randall Stuewe -- Chairman and Chief Executive Officer No, it's always a very, very fair question. Clearly, obviously, in my comments, we wanna make sure people understand the value of the supply chain. And that's really integral to the heart of this. And as we've gone forward -- when the plant started at 137 million gallons, we all had our expectation of how much of our internally produced fat went in there. It ended up being a little bit less than we thought. But now at 275, it's ending up being a little more as we value add what I'm gonna call the lower value animal fat that we produce in our system that work well down there. And given the CI scores -- remember each facility that we have has a CI score that supports Diamond Green Diesel. So, it's critical to control not only the supply chain, the origination, the logistics, and the CI side. That's what makes Diamond Green's performance so valuable. Now, all that said, obviously, in the original documents with Valero that are out there, there is notes that said that, really, we've got a marriage here for a lot of years. And so, any type of discussion of breaking it off is probably premature for me to ever talk about. But at the same time, I'm always open-minded to ways of creating shareholder value. And trust me, I believe that the value of Diamond Green is starting to show and that our share price will start to recognize the value of it, Ken. Kenneth Zaslow -- Bank of Montreal -- Analyst I appreciate it. Thanks. Operator Our next question comes from Adam Samuelson of Goldman Sachs. Please go ahead. Scott Bernstein -- Goldman Sachs -- Analyst Yeah. Hi, this is Scott Bernstein on for Adam Samuelson. I just had a question on what you're seeing on the impact from ASF in China on the different businesses. If you fought any in the second half of 2018? And any expectations for 2019? Randall Stuewe -- Chairman and Chief Executive Officer This is Randy again. I'll give you a two-second view on ASF in China. Really, we continue to monitor it very closely. There are very, very diverse opinions on what the impact is in China today. I think it's safe to say we have seen the -- there's ample frozen supplies of pork meat as they increase their slaughter in the near term in China. And at the same time, we got a shrinking hog herd over there right now, as we know in our plasma, our blood processing plants. There's just less animals and less blood available right now. There's a strong move toward alternative meats right now. The borders continue to be somewhat challenging for moving hogs around and also for bringing in, what I'd say, non-Chinese meat into the country. So, as I started the comment saying, we don't know what we don't in China today. My gut says it's a bigger issue that's gonna take a longer time to work through than most people understand today. But, yet, the pricing of pork in China doesn't support that theory today. There is a thesis out there that says, as we know, operating a food business in China -- if you damage consumer confidence in your product, it is a long-term rebuilding of that demand. And so, there is some move away from pork, even though it was the preferred meat for many, many years, and the largest pork consumer in the world. So, at the end of the day, it feels like they continue to try to tell us -- when I say "they" being the Chinese government -- it's under control. But every day you see three more cases. We've heard numbers that range from the heard down 100 thousand head to 100 million head. And all I can tell you is is for the plasma side of the business, the supply, it's probably 15% to 20% lower right now than it was a year ago. So, time will tell. I think more concerning is the spread of the disease, as it is over in Vietnam now. It's a very difficult disease to maintain. Europe has dealt with it for many, many years and has biosecurity measures to manage it quite effectively. But at the end of the day, China has a very, very challenging problem ahead in their meat sector. Scott Bernstein -- Goldman Sachs -- Analyst Got it. Thank you. Very helpful. And my only other question would be on the food segment. I know you guys talked about collagen casings and edible fats on the slides, and I just wanted to hear if you guys have some more comments on Rousselot. And if you could talk about the -- generally for the food business in 2019? Randall Stuewe -- Chairman and Chief Executive Officer Yeah, I think I'll give you three comments. Rousselot, you see -- Rousselot clearly makes up the largest part of that segment today. The gelatin and collagen industry -- or collagen's referred to it -- seems to add a lot of head capacity in big chunks. And over the course of 2015, '16, it added quite a bit of capacity along the way, and it just had to grow into it and work through that capacity. So, we've seen margins improve around the world. We've had supply disruptions around the world with the amount of pigskin available, hide available, beef bone -- the margins seem to have normalized in that business. And then, we've also continued to grow one of our specialty product lines. And that's our factory that's coming on in Amparo, Brazil, today; and Angouleme, France, later this year; and then Ghent, Belgium, the following year; and then a second plant in Brazil later on next year too. So, at the end of the day, we feel pretty bullish about where our food segment's going. If you look at it on a performance basis, it would be down just a little bit year over year. Part of that's FX related if you normalize that. But the casings business has softened quite a bit out there. That's the natural casings business. And that's related to a lot of the Chinese discussion we already had, the number of hogs being processed into the marketplace. And then, also, we have an edible fats business. And fat prices are down about 20%. While that's a spread business, you do take a little bit of EBITDA hit there as those prices go down. So, overall Rousselot's carrying its weight. It feels pretty darn good going into '19 right now. And I think we're very proud that the food segment will have an improved performance in 2019. Scott Bernstein -- Goldman Sachs -- Analyst Great. Thanks so much. Operator Our next question comes from Tom Palmer of JPMorgan. Please go ahead. Thomas Palmer -- JPMorgan -- Analyst Good morning. Thanks for the question. Randall Stuewe -- Chairman and Chief Executive Officer Hey, Tom. Thomas Palmer -- JPMorgan -- Analyst You said at an industry conference that spot EBITDA margins for renewable diesel were running around $1.40 a gallon -- stronger for the fourth quarter. And I appreciate that diesel had declined a good amount over the course of the quarter but also wondered if there were any unique expense-related items that contributed to EBITDA this quarter? So, any hedging gains to call out? Was there an abnormally high mix of yellow grease because of the unexpected downtime in the prior quarter? Around that -- and then get a sense of what it's running at today. Randall Stuewe -- Chairman and Chief Executive Officer Yeah. No, no. Great questions, really are. And, obviously, we wanted to articulate that, so I appreciate the question. Obviously, we have a pretty long supply chain to support the facility at 275 gallons. And you do put on a lot of heating oil futures in that sense to hedge the supply chain. And as we know today, we don't get hedge accounting at that facility today. So, you get a mark-to-market. So, as we talked in the third quarter, we had hedging losses. Then, we have a return and had some hedging gains in Q4. And that'll ebb and flow up and down. As far as one supply versus another supply, not really. Pretty constant. Obviously, we try to originate to the right CI mass balance that we can do down there to meet our customers' needs. The plant has been running just excellent at capacity and above capacity. And I guess the way -- we don't want to break it down any more than to say we anticipate margins for the full year of 2019 to be between $1.25 and $1.40. And you kinda nailed it down. So, there is some gains there in Q4 for sure, from the hedging side. And, occasionally you give those back, but we'll reiterate our outlook for the full year. Thomas Palmer -- JPMorgan -- Analyst Okay. Thanks for the color there. Also, wanted to follow up on your expectations on the longer-term outlook. We have seen a few announcements regarding either construction or expansion of other renewable diesel facilities. Has your enthusiasm for the longer-term profit potential changed at all? And when you were considering the expansion for Diamond Green Diesel, had you assumed that there would be increased competition coming? Randall Stuewe -- Chairman and Chief Executive Officer Yeah, I think -- I'm gonna kinda refer everybody back to our investor day that we had last summer where we tried to lay out kind of the global, low-carbon fuel demand around the world that we see happening over the next three to five years. I think we continue to believe that we understand that and that that's real. Once again, we continue to -- you can monitor the carb website and see what kinda demand comes out of there. At the end of the day, I think it's as good a decision today as it was then, if not better today. We continue to feel very, very optimistic about its role in fulfilling low carbon fuel demand both here and abroad. And the performance of Diamond Green, as we've said, coming into last year, we thought we would average about a $1.25 a gallon without the blender's tax credit. We ended up at $1.19, not a bad thing for an extended 45 days down in higher costs. And we're giving you the same view today without the blender's tax credit. As for the competition out there, as John Bullock reminds me, it's pretty easy to put out an announcement on paper. It takes a lot of money, and time, and effort to build a plant. And we've got what I consider to be a first-mover's advantage. It's pretty significant out there right now. Now, all said, I believe someone -- that if the margins are attractive, and honey will attract flies here, and eventually, someone will commit the capital and the resources to do it. But of the four or five projects have been announce out there, I'm not sure we know that any of those are what we would call real at this time. They may be, but not at least from our eyesight. Thomas Palmer -- JPMorgan -- Analyst All right. Thank you. Operator Our next question comes from Craig Irwin of ROTH Capital Partners. Please go ahead. Craig Irwin -- ROTH Capital Partners -- Analyst Hi. Good morning and thanks for taking my question. So, Randy, this quarter your production at Diamond Green showed a really nice jump as expected, right, p more than 50% above peak production, looking backwards. Historically, you've talked about the importance of a thesis of buying more of your fats and the experience that you believe that there's a few pennies in fats prices that you've seen as a benefit, sort of the uplift of consuming your own product, $0.03 to $0.05. With this 50%-plus jump in production for Diamond Green in the quarter, do you expect that uplift to maybe increase? Is there anything that you would point to us as external observers of the market that would maybe help us have a way to quantify this increase? John Bullock -- Executive Vice President and Chief Strategy Officer This is John. I think the way to look at that is, obviously, the increased demand that comes from Diamond Green Diesel is going to ultimately have an impact on the price of the low-CI fats. And it'll have more of an impact as we get bigger, and bigger, and bigger in that segment. It's hard for me to tell you that that's gonna happen in any 30 or 60-period of time. But the trend is pretty obvious here. And I think to answer your question, the answer is pretty obvious. Of course it is. And when it does, it will impact in a positive way our core businesses. Randall Stuewe -- Chairman and Chief Executive Officer Yeah. And, Craig, this is Randy. And I'll just augment what John says. At the end of the day, we've only been running Diamond Green at the new rate now for 100, 120 days. And we basically had fat parked everywhere in the country because the extended downtime. So, at the end of the day, we're starting to see from a low-CI perspective there's a $0.03 to $0.04 a pound differential between the different feedstocks that we can support down there right now or that we process. So, it is going to have an impact on our core business, and that's when we get really excited about Super Diamond. And not only do we believe the margins can be sustained because of the global S&D in demand -- also, when you think about the waste cooking oil, the animal fat, and the distiller's corn oil business today from the ethanol administered, we've always said that number's around 13, 14 billion pounds annually in this country. And Diamond Green gonna take between 6 and 7 billion of that. So, it's kinda -- as John said in a sense -- it's kinda obvious we're gonna have a pretty good impact as we start to roll forward to the bigger plant here a few years out. Craig Irwin -- ROTH Capital Partners -- Analyst Great. Thank you for that. My second question's for Brad. So, working capital in 2018 was the sixth year where this is a positive contribution for cash flow. How do you see the potential for continuing to squeeze the balance sheet for cash in '19? Is there anything you would call? And then, should we see a similar cadence to working capital to last year where you may be consumed a little bit in the first quarter and then got it back, plus some, by the end of the year? Brad Phillips -- Executive Vice President and Chief Financial Officer Craig, yeah, you kinda nailed it there. We're gonna be targeting and working toward similar to what we achieved this past year. You're right. We've got a good five-year tail here of improvement there. And there was a lot to improve on. And there are still some areas. But we'll still see a bit. And you're right. I think you can expect it's probably a little bit more back half of the year where those stronger improvements come in. Randall Stuewe -- Chairman and Chief Executive Officer Right. And, Craig, this is Randy. I'll build on that with Brad because I think, while this year we showed a little bit of improvement, at the end of the day our volumes keep growing around the world. So, our capacity is growing pretty rapidly. Our opportunities still exist in our food segment to take some pretty significant working capital out of there. And that comes to identifying the customer demands and the products we should be making there. And I'll tell you what, I think we're getting better each year in that area. We've been able to bring our inventories down pretty significantly in the Rousselot area, and we'll continue to do more and more of that as we go forward. So, I'm even a little more optimistic than Brad is coming into '19 here. But it's also being offset by the higher volumes that we're processing around the world. Brad Phillips -- Executive Vice President and Chief Financial Officer Great. Thank you for that and congratulations on the strong performance. Operator Our next question comes from Andrew Goffe of Overbrook Management Corporation. Please go ahead. Andrew Goffe -- Overbrook Management -- Analyst Hi, guys. I was wondering how you're thinking about how the company will capitalize on the growing demand for renewable diesel in Europe, and kind of how you see how much demand could be coming from Europe within the next couple of years? Randall Stuewe -- Chairman and Chief Executive Officer Yeah, and I'll take a shot then John can help me out here a little bit on this. Obviously, we've got a very, very strong -- and we've articulated our view and strategy on the USA, and with our double downer, 675, 700 million gallon facility in the US. And you think about it, our USA production within the Darling system's about a million tons of fat. We have about half of that in Europe today. And so, at the end of the day, we're trying to figure out the correct way to value add that. And that could take a whole bunch of various forms, from building a facility in Europe, to shipping fat to the US to make diesel out of it, to just only value adding a portion of our fat stream over there. And at the end of the day, we see that about half of the world's demand for low carbon fuels will be on the North American continent. And probably about another half will around the world. And so, ultimately, as we Diamond Green Diesel to have the kind of the most efficient supply chain and logistical sight in the world, we're kinda doing that same evaluation as we look forward. And we'll be monitoring those markets to make sure that everybody has kinda the same commitment to reduction of greenhouse gases that seem to be articulated today. John, you got anything you wanna add to that? John Bullock -- Executive Vice President and Chief Strategy Officer No. I think you said it perfectly. Andrew Goffe -- Overbrook Management -- Analyst Thanks. Operator Our next question comes from Bill Baldwin of Baldwin Anthony Securities. Please go ahead. Bill Baldwin -- Baldwin Anthony Securities -- Analyst Good morning. Randall Stuewe -- Chairman and Chief Executive Officer Morning, Bill. Brad Phillips -- Executive Vice President and Chief Financial Officer Hey, Bill. Bill Baldwin -- Baldwin Anthony Securities -- Analyst Just a housekeeping item here. I was gonna ask is there anything in the revenue side of Diamond Green Diesel on the rend hat was unusual or affected the revenues in the fourth quarter? Or was rend accounting pretty straight forward? John Bullock -- Executive Vice President and Chief Strategy Officer This is John. No, there was nothing unusual. Bill Baldwin -- Baldwin Anthony Securities -- Analyst Nothing unusual. No -- OK. I didn't know you banked any or... Randall Stuewe -- Chairman and Chief Executive Officer No. There was no stockpiling of rend. John Bullock -- Executive Vice President and Chief Strategy Officer No. Bill Baldwin -- Baldwin Anthony Securities -- Analyst No stockpiling of rend. No, OK. Thank you very much. John Bullock -- Executive Vice President and Chief Strategy Officer Thanks. Operator Our next question is a follow-up from Heather Jones of Vertical Group. Please go ahead. Heather Jones -- Vertical Group -- Analyst Yes. Thanks for taking this follow-up. First, I just wanted to go back to Europe. So, I know that a number of the countries there won't bring in renewable diesel from the US, but you have a situation there where their double counting rules -- that's accelerating. Demand is accelerating, and yet, there's an issue of finding suitable feedstocks given the move away from palm, etc. So, wondering if either A.) Do you think there will be a big increase in imports of fats from the US into Europe to feed these big plants that are coming online? Or will we see maybe a loosing of their standards, the regulations, as far as importing renewable diesel from the US? John Bullock -- Executive Vice President and Chief Strategy Officer Heather, this is John. They can import biofuel into the EU. There's just a tariff associated with it that increases the cost of that. Your question on -- generally, I think what we see in this, there are several markets around the world where there're very good green premiums that are being paid for renewable fuel. And one way or another the renewable diesel is gonna find its way to the markets. What we're focused on is trying to make sure to develop the most efficient supply chains to service those markets, and in the process, utilize the fat that we produce out of our core business to maximize its value. And we continue to look at that constantly. Obviously, there are parts of Europe that are gonna be extremely attractive markets for renewable diesel. I think the general movement in Europe is away from palm oil. That doesn't mean that they will totally eliminate the use of palm oil. But that speaks very favorably for the low-CI feedstocks that we produce, the used cooking oils and the animal fats. And it's just a question of matching up the supply to the places that pay the really good green premiums. Heather Jones -- Vertical Group -- Analyst Okay. Thank you. My final question is could you speak to what do you see as the implications if there's a favorable resolution of US-China trade dispute? If we get a deal, what are the implications for Darlings business? Randall Stuewe -- Chairman and Chief Executive Officer What we see when I refer to trade disruptions in the feed segment, it's more industry related right now. We were shipping a lot of poultry meals out of the processors in the US to China, and to a degree, those had backed up the potential tariffs that were on there. So, at the end of the day, I think it helps strengthen our poultry processing side of our business. I think China obviously has an animal herd their gonna have to rebuild. And that'll take some time. And so, at the end of the day, to me, I think it should strengthen the overall green and soybean complex going forward here. And at the end of the day, that kind of spills over in various ways and helps us out. Heather Jones -- Vertical Group -- Analyst Okay. Perfect. Thank you so much. Operator This concludes our question and answer session. I would like to turn the conference back over to Randall Stuewe for any closing remarks. Randall Stuewe -- Chairman and Chief Executive Officer Thank you. So, just want to say thanks to everybody. Great questions today, and we look forward to talking to you again in May and updating you on our progress. Operator The conference has now concluded. Thank you for attending today's presentation. You may now disconnect. Duration: 56 minutes Call participants: Melissa Gaither -- Vice President of Investor Relations and Global Communications Randall Stuewe -- Chairman and Chief Executive Officer Brad Phillips -- Executive Vice President and Chief Financial Officer Heather Jones -- Vertical Group -- Analyst John Bullock -- Executive Vice President and Chief Strategy Officer Kenneth Zaslow -- Bank of Montreal -- Analyst Scott Bernstein -- Goldman Sachs -- Analyst Thomas Palmer -- JPMorgan -- Analyst Craig Irwin -- ROTH Capital Partners -- Analyst Andrew Goffe -- Overbrook Management -- Analyst Bill Baldwin -- Baldwin Anthony Securities -- Analyst More DAR analysis This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. More From The Motley Fool 10 Best Stocks to Buy Today 3 Stocks That Are Absurdly Cheap Right Now 5 Warren Buffett Principles to Remember in a Volatile Stock Market The $16,728 Social Security Bonus You Cannot Afford to Miss The Must-Read Trump Quote on Social Security 10 Reasons Why I'm Selling All of My Apple Stock Motley Fool Transcription has no position in any of the stocks mentioned. The Motley Fool recommends Darling Ingredients. The Motley Fool has a disclosure policy . || Bitcoin And Ethereum Daily Price Forecast Consolidative Action Continues For Second Consecutive Session: Consolidative price action continues in global cryptocurrency market for the second consecutive trading session. Following the recent upsurge in cryptocurrency market over the weekend, investors are waiting before making any major moved in hopes the market will see further upside action on the news and event-driven momentum and this is one major reason the price is yet to see sharp declines. Bitcoin and other legacy cryptocurrencies traded range bound across the day with 3 out of top 5 digital currencies trading with positive bias across the day. While Ethereum was one of those three which traded positive, Bitcoin saw slight downside price action. Meanwhile, todays range bound action in the cryptocurrency market received an ounce of positive fundamental support in form of rescheduled Ethereums network upgrade data. Impending Doom Approaches Crypto Market As Constantinople Deadline Has Been Preponed News hit the market that Ethereum developers had preponed the data and block number for Constantinople network from February 27 to February 25. As the deadline approached and the market is unlikely to provide any high impact updates and headlines before upgrade and investors turn cautious over the impact of the upgrade on Ethereum network history is set to repeat itself once again. Investors are expected to book profits wiping clean cryptocurrency market making sure every single penny of gains are extracted from the market. This will likely leave the price well near yearly lows as retail traders who make up most of the currency markets traders and investors are expected to flock away and not return until another such rally presents itself. However, it is clear that the current market is set to experience a major downside move which is likely to occur sooner rather than later. As of writing this article, BTCUSD pair is trading at $3630.3 down by 0.32% on the day, while ETHUSD pair is trading flat at $121.39.The next big event which is most awaited in market could either turn out to be inform of SECs approval to Bitcoin ETF or approval of NYSE parent company backed Bitcoin futures which will be available for trading in Bakkt platform and bring in the next big wave of bullish price action possibly acting as magnet to attract fund managers and investors with huge portfolio providing market with much needed long term fund flow and fundamental support. Story continues Please let us know what you think in the comments below This article was originally posted on FX Empire More From FXEMPIRE: GBP/JPY Price Forecast British pound shows resiliency against yen E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis Fib Level at 7022.25 is Trigger Point for Potential Surge into Close Gold Price Prediction Gold Trades Sideways Forming a Bull Flag Pattern Bitcoin And Ethereum Daily Price Forecast Consolidative Action Continues For Second Consecutive Session USD/JPY Price Forecast US dollar rolls over against yen Crude Oil Price Update Fib Level at $54.02 is Trigger Point for Upside Acceleration || Making the case for privacy in cryptocurrency: Confidentiality cryptocurrencies, most commonly known as “privacy coins”, enable users to have complete privacy over their transactions and addresses. In essence, privacy coins implement functionality to hide your identity when making transactions online. They also keep users’ wallets anonymous and/or hide the balances of transactions as well. When Bitcoin introduced cryptocurrencies to the world, privacy was an important underlying attribute. Of course, we know today that it’s possible to easily link IP addresses and usernames to Bitcoin and Ethereum addresses thanks to metadata. Plus, because all transactions are broadcasted publicly, users lose some privacy features there as well. There are three main aspects of privacy in the context of cryptocurrencies: The identity of the user performing an operation using the cryptocurrency The transaction data specific to the operation the user is performing The total blockchain state formed by combining the knowledge of all transactions An easier way to understand the above points is to ask the following questions: a) Do I know the identity of the user? b) Can I see the transaction details sent by other users? And c) Can I see all blockchain transaction data and identify which addresses have which amounts? By answering each of these questions, you can work out whether any given cryptocurrency is confidential and private or not. For a privacy coin to be really, really private, the answer to all of the above questions should be a big round “no”. Still, if you don’t see a need for privacy as you assume good people have nothing to hide, I would like you to consider the implications of having your financial information publicly exposed – especially when you’re just a random person with little power to protect yourself from institutions and agencies. If the role of government is to serve its population, I argue there should be a way for any citizen to be able to hide their holdings, while at the same time being able to prove what those holdings are. The best privacy coins give users this ability. Story continues So, let’s take a look at the technology behind privacy coins and the most widely-used privacy coins today. Privacy coin features It is helpful to organise approaches to privacy in cryptocurrencies by what techniques they use. There are a variety of privacy-enabling technologies in crypto with completely different working mechanics and goals. The main confidentiality technologies employed by privacy coins today are as follows. To find more information, do check out this guide on how privacy cryptocurrencies work. Layer-2 protocols like the Lightning Network, state channels, or Plasma allow small groups of users to transact among themselves “off-chain”. This means all intermediate states are stored between those users and only periodic summaries of state changes are written to the main blockchain. As a result, the intermediate states are invisible to outside observers because they never appear on the main blockchain at all. Of course, the Layer-2 protocol itself can have different levels of privacy for off-chain states among its participants, so this is more of an idea than a full-blown privacy technique. Ring signatures take inputs and outputs of different transactions and combine them into a single large transaction to obscure links between the addresses of senders and recipients. Monero is one such coin that uses ring signatures to obfuscate transaction information. TOR uses multi-layered Onion routing as a mechanism to hide users’ IP addresses. This technology is used by privacy coins such as Grin and Verge. CoinJoins is a mechanism that enables transactions from multiple senders to be batched into a single transaction, similar to ring signatures. Zero-knowledge proofs refers to data which demonstrates knowledge of a piece of information without revealing the information itself. When used correctly, this cryptographic technique can ensure both privacy of transactions and soundness of the blockchain. An example of a cryptocurrency using this technique is Zcash. Mimblewimble features confidential transactions that allow for public verification of a transaction without revealing any significant details such as amounts or addresses. This technology also uses CoinJoins and Dandelion, an improved gossip protocol network that contains increased privacy mechanics. It uses hops between nodes before publicising transactions to neighbouring nodes. Mimblewimble is the underlying technology of the Grin and Beam privacy coins. La créme de la créme The five main privacy cryptocurrencies in use today are Monero, Zcash, Dash, Verge, and Grin. A brief analysis of each, when facing the initial A, B, and C questions, can be seen below: Bitcoin Monero Zcash Dash Verge Grin Public addresses YES NO NO YES YES NO Public transaction details YES NO NO NO NO NO Blockchain a nalysis p ossible YES NO NO YES YES NO Looking at each individually, we can see that at the time of writing, Grin – the most recent Mimblewimble protocol implementation – seems to be the one with the most privacy features, which you can read more about in this guide . The case for privacy coins There are plenty of reasons why users might want to protect their financial information from third parties. The ones I believe are the most crucial are: The ability to have complete financial freedom The ability to comply with agencies chosen by the user/citizen The ability to hide assets from good and bad actors The ability to trade privately without being traced from different geographical locations The ability to bypass human laws and government-created rules There are plenty more reasons to foster the adoption of privacy-enabled cryptocurrencies, if not only because giving users privacy does not equal an increase in criminality or tax evasion. What it surely equals is a direct immediate impact on financial freedom. If you still have doubts about the need for privacy, think about it like this: What’s more important to you: to have the freedom to transact and store value privately, or the obligation to give away all your information to government agencies so that evading taxes is harder? The post Making the case for privacy in cryptocurrency appeared first on Coin Rivet . || NVIDIA buys high-performance chip-maker Mellanox for $6.9 billion: NVIDIAconfirmedthat it has purchased Israeli chip-maker Mellanox for $6.9 billion, its largest acquisition to date. The bid,rumoredfor several days, trumped a $6 billion offer made by Intel several months ago. It will reportedly help NVIDIA better compete in the server market, which accounts for about a third of its sales.
Mellanox primarily manufactures chips that power high-speed ethernet and InfiniBand networks that connect servers. Such products are used in data centers cloud and storage, as well as for high-performance supercomputers used for AI and other types of data-intensive computing.
"The emergence of AI and data science, as well as billions of simultaneous computer users, is fueling skyrocketing demand on the world's datacenters," said NVIDIA CEO Jensen Huang. "Addressing this demand will require holistic architectures that connect vast numbers of fast computing nodes over intelligent networking fabrics to form a giant datacenter-scale compute engine."
NVIDIA saw its revenue fall 22 percent last quarter thanks to the recent decline of Bitcoin mining, tepid sales of its latest GPUS and trade problems in China. The one bright spot has been AI and cloud computing, where it's products are used forautonomous vehicles,robotsandneural networks.
With the acquisition of Mellanox, NVIDIA will be able expand in those areas. The Israeli company's technology is used "in over half of the world's fastest supercomputers" along with so-called hyperscale datacenters, NVIDIA points out. It adds that workloads in those areas are growing exponentially, but CPU performance keeps slowing down because of Moore's Law.
That in turn has increased demand for products from both NVIDIA and Mellanox. "Combining our two companies comes as a natural extension of our longstanding partnership and is a great fit given our common performance-driven cultures," said Mellanox CEO Eyal Waldman.
VideoPresenter: Terrence O'BrienScript: Terrence O'BrienScript Editor: Dana WollmanCamera: Savanna De StefanoEditor: Kyle MaackProducer: Michael Morris || How Square Makes Most of Its Money: At this point, like most people in this country, you've probably encounteredSquare's(NYSE: SQ)products. The increasingly visible company provides the front-end hardware and backbone software that allows your local small business to accept payments through a mobile phone (using a Square-branded dongle) or via a tablet point-of-sale terminal.
But that's only part of the story. In mid-2017, my colleague Chris Neiger wrote a fine article exploring thevarious ways Square makes its money. With such a dynamic company, it's worth revisiting the subject almost 1 1/2 years later. Here's how things currently shape up for the ambitious payment processor.
Image source: Square
As with any payment processor -- incumbentMastercard(NYSE: MA)is a good example -- Square makes the bulk of its money by taking a small cut of every transaction made through its system. One very appealing aspect of Square's operations is that it's come up with numerous other ways to make coin. And these are becoming an increasingly important part of its business.
Among its growing list of services is Instant Deposit, in which the take from a sale can be deposited near-instantaneously into a client's bank account. The company just introduced abusiness debit card co-branded with Mastercardand is even redoubling its efforts toobtain what's effectively a banking license. Anyone for a Square five-year certificate of deposit (CD)?
Let's take a look at Square's revenue breakdown. We'll do a side-by-side comparison, placing the company's most recently reported quarter (Q3 2018) next to the raw Q2 2017 figures provided by Chris in his article:
[[], ["TOTAL REVENUE", "$882.1", "-", "$551.6", "-"], ["Transaction-based", "$655.4", "74%", "$482.1", "87%"], ["Subscription and services-based", "$166.2", "19%", "$59.2", "11%"], ["Hardware", "$17.5", "2%", "$10.3", "2%"], ["Bitcoin", "$43.0", "5%", "-", "-"]]
Sources: The Motley Fool, Square.
The most striking aspect of this is the share of that bedrock transaction-based revenue. As a percentage of the overall total, it fell dramatically to 74% in the most recent period from Q2 2017's 87%. In contrast to this decline, subscription and services-based revenue recorded an 8 percentage point gain across that span of time.
These developments show that Square is effectively building its ecosystem taller and wider and becoming a "stickier" service provider for its clients.
Another figure of note is that for bitcoin, which leaped from nothing to 5% of total revenue in Q3 2018. In the final quarter of 2017, the company gave users of its peer-to-peer solution Cash App the ability to buy bitcoin. Given the volatility of the cryptocurrency and the costs associated with brokering it, Square makes an "insignificant" loss from bitcoin.
Nevertheless, it does demonstrate that the company is actively and constantly searching for new -- and perhaps ultimately lucrative -- revenue streams.
I've always been fond of restless companies that constantly buzz around for fresh ways to make money. Historically, payment processors basically have one major way to make money that dominates their revenue list -- transaction fees. (Again, Mastercard is a towering example of this.) Although Square is still very reliant on transaction fees, it's moving away from near-total dependency on them.
What Square isn't, of course, is consistently profitable. Even casual observers of the company are aware that it only recently (Q3 2018, in fact) netted its first quarterly profit. And it wasn't much of a net, at a margin barely over 2%.
But as evidenced by how well the company's stock has done since the start of this year, that flip into the black seems to validate Square's diversification strategy. It's a sound and sensible one, and largely because of it, I'm bullish on the company's prospects.
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Eric Volkmanhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Mastercard and Square. The Motley Fool has adisclosure policy. || AUD/USD Price Forecast – Australian dollar tries to rally but fails: The Australian dollarinitially rallied during the trading session on Thursday, showing signs of bullish pressure. However, we still have a lot of drama when it comes to the US/China situation, and therefore it’s likely that this pair will struggle as the Australian dollar will continue to be held hostage to what’s going on over there, so even if we do get a move to the upside, it’s going to continue to be somewhat short-lived and my best estimation. After all, this is a market that has shown a proclivity to follow right along with the latest headlines, and of course what’s going on in the mainland as well.
The Chinese are starting to add stimulus to their economy, so if we get a bit of a boost over there it’s likely that the Australian dollar will rally due to the fact that the Australian economy is highly sensitive to exports for Chinese manufacturing. Remember, the Australian economy has a lot of mining and hard commodities involved in it, so it makes sense that if the Chinese are manufacturing more, or perhaps even picking up construction, Australian companies will benefit from that. Ultimately, this is a barometer for Sino-American relations, and of course trade flow.
The Federal Reserve has backed away from being hawkish, and that of course will have an influence on the greenback itself. Because of this, all we need is a little bit of good news coming from either Australia or China to reach to the upside. The 0.70 level underneath is the beginning of massive support, extending down to the 0.68 level. That’s an area that has offered massive support on longer-term charts. Because of this, I continue to buy dips.
Please let us know what you think in the comments below
Thisarticlewas originally posted on FX Empire
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• EUR/USD Price Forecast – Euro pulls back || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 06/02/19: Bitcoin Cash ABC fell by 0.65% on Tuesday, following a 0.02% fall on Monday. Bitcoin Cash ABC ended the day at $116.06.
An early morning intraday high $118 saw Bitcoin Cash ABC fall short of the first major resistance level at $118.48 before hitting reverse.
The reversal saw Bitcoin Cash ABC slide to a late afternoon intraday low $115.16 before recovering to $116 levels by the day’s end. The slide saw Bitcoin Cash ABC fall through the first major support level at $116.48 to call on support at the second major support level at $115.44.
At the time of writing, Bitcoin Cash ABC stood at $111.35, with a loss of 4.06% early on. A bearish start to the day saw Bitcoin Cash ABC slide from a start of a day high $116.30 to a morning low $110.34.
The sell-off saw Bitcoin Cash ABC fall through the day’s major support levels before breaking back through the third major support level at $110.73.
For the day ahead, a move back through the morning high $116.30 would support a bounce back in the 2ndhalf of the day. While a rebound would bring the first major resistance level at $117.65 into play, Tuesday’s high $118 will likely pin Bitcoin Cash ABC back from a breakout from $117 levels.
Failure to move back through the morning high will likely see Bitcoin Cash ABC languish deep in the red. A slide back through the third major support level at $110.73 could bring late January’s swing lo $105 into play before any recovery.
Litecoin rose by 0.89% on Tuesday, following on from a 2.31% rally on Monday. Litecoin ended the day at $33.95.
Recovering from a morning low $33.32, Litecoin struck a late morning high $34.15 to come within range of the first major resistance level at $34.24 before hitting reverse.
Litecoin slid to a late afternoon intraday low $33.26 before moving back into positive territory by the day’s end. The day’s major support levels were left untested.
At the time of writing, Litecoin was down by 4.59% to $32.39. Falling from a morning high $34.1, Litecoin slid through the first major support level at $33.42 and second major support level at $32.90 to a morning low $32.22.
For the day ahead, a break back through the second major support level at $32.90 to $33 levels would signal a bounce back later in the day. For Litecoin to move back into positive territory, however, a move through to $33.80 levels would be needed by the early afternoon. We would expect the day’s major resistance levels to be left untested.
Failure to break back through the second major support level could see Litecoin slide back through the morning low $32.22 and the third major support level at $32.02 to $31 levels before any recovery.
Ripple’s XRP rose by 0.64% on Tuesday. Partially reversing a 1.38% fall from Monday, Ripple’s XRP ended the day at $0.3034.
Relatively range-bound through most of the day, Ripple’s XRP slipped to an early morning intraday low $0.29918 before recovering to $0.30 levels. Ripple’s XRP called on support at the first major support level at $0.2966 to move back through to $0.30 levels.
A late afternoon rally to an intraday high 0.30604 saw Ripple’s XRP come up short of the first major resistance level at $0.3079. The only bullish move of the day left $0.31 levels off the table for a 2ndconsecutive day.
At the time of writing, Ripple’s XRP was down by 2.9% to $0.2946. Tracking the broader market in the early hours, Ripple’s XRP slid from a start of a day high $0.30462 to a morning low $0.29221.
The sell-off saw Ripple’s XRP fall through the first major support level at $0.2997 and second major support level at $0.2960 before partially recovering.
For the day ahead, a move back through the support levels to $0.3030 would signal a rebound later in the day. Sentiment across the broader market would need to materially improve, however, for Ripple’s XRP to take a run at the first major resistance level at $0.3066.
Failure to move back through the support levels by the early afternoon could see Ripple’s XRP fall back through the morning low $0.29221 to bring sub-$0.29 levels and the third major support level at $0.2892 into play before any recovery.
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Thisarticlewas originally posted on FX Empire
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[Random Sample of Social Media Buzz (last 60 days)]
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How to be a profitable bitcoin trader https://t.co/shqD8X2QJO || Bitcoin - BTC
Price: $3,633.02
Change in 1h: -0.01%
Market cap: $63,727,947,438.00
Ranking: 1
#Bitcoin #BTC || USD: 109.810
EUR: 125.640
GBP: 143.588
AUD: 79.448
NZD: 75.681
CNY: 16.275
CHF: 110.129
BTC: 374,748
ETH: 11,605
Mon Feb 04 17:00 JST
|
Trend: up || Prices: 4069.11, 4098.37, 4106.66, 4105.40, 4158.18, 4879.88, 4973.02, 4922.80, 5036.68, 5059.82
|
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 2020-09-01]
BTC Price: 11970.48, BTC RSI: 60.05
Gold Price: 1968.20, Gold RSI: 56.10
Oil Price: 42.76, Oil RSI: 56.19
[Random Sample of News (last 60 days)]
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:[email protected]
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 || The Crypto Daily – Movers and Shakers – August 9th, 2020: Bitcoin, BTC to USD, rose by 1.59% on Saturday. Reversing a 1.52% fall from Friday, Bitcoin ended the day at $11,764.
It was a mixed start to the day. Bitcoin fell to an early morning intraday low $11,523 before finding support.
Steering clear of the first major support level at $11,304, Bitcoin rose to a mid-day intraday high $11,796.
Falling short of the first major resistance level at $11,878, Bitcoin fell back to a low $11,601.
Avoiding sub-$11,600 levels, Bitcoin moved back through to $11,700 levels to deliver the upside on 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 bullish day for the majors on Saturday.
Cardano’s ADA and Tezos led the way, with gains of 5.74% and 9.84% respectively.
Binance Coin (+2.64%), Ethereum (+4.67%), Litecoin (+2.15%), and Tron’s TRX (+3.19%) also found strong support.
Bitcoin Cash ABC (+1.61%), Bitcoin Cash SV (+1.25%), EOS (+1.89%), Monero’s XMR (+1.08%), Ripple’s XRP (+0.40%), and Stellar’s Lumen (+0.97%) trailed the pack.
In the current week, the crypto total market cap rose from a Monday low $322.88bn to a Thursday high $355.09bn. At the time of writing, the total market cap stood at $349.48bn.
Bitcoin’s dominance fell to a Tuesday low 61.24% before rising to a Friday high 63.16%. At the time of writing, Bitcoin’s dominance stood at 62.15%.
At the time of writing, Bitcoin was down by 0.08% to $11,755. A mixed start to the day saw Bitcoin rise to an early morning high $11,777.1 before falling to a low $11,746.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Cardano’s ADA and Tezos led the way down, with losses of 1.23% and 1.38% respectively.
Binance Coin (-0.75%), EOS (-0.11%), Litecoin (-0.21%), Monero’s XMR and Stellar’s Lumen (-0.44%) also saw red.
Bitcoin Cash ABC (+0.80%), Bitcoin Cash SV (+0.80%), Ethereum (+0.06%), Ripple’s XRP (+0.09%), and Tron’s TRX (+0.47%) found early support.
Bitcoin would need to avoid a fall through the $11,694 pivot to support a run at the first major resistance level at $11,866.
Support from the broader market would be needed, however, for Bitcoin to break out from Saturday’s high $11,796.
Barring an extended crypto rally, the first major resistance level and Saturday’s high would likely cap any upside.
In the event of a crypto breakout, Bitcoin could eye the second major resistance level at $11,967.
A fall through the $11,694 pivot level would bring the first major support level at $11,593 into play.
Barring another extended crypto sell-off, however, Bitcoin should steer clear of sub-$11,400 support levels. The second major support level at $11,421 should limit the downside.
Thisarticlewas originally posted on FX Empire
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• EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 8th, 2020 || Carlos Ghosn’s $600K Bitcoin Escape Fee Paid via Coinbase: The son of former Renault and Nissan head and fugitive Carlos Ghosn used Coinbase to pay two men $600,000 in bitcoin to get his father out of Japan last December. U.S. prosecutors said Wednesday that Anthony Ghosn sent 63 bitcoin to Michael and Peter Taylor, a father-and-son team who smuggled Carlos Ghosn out of Japan on Dec. 30, 2019. Coinbase gave evidence to Japanese investigators this week (see below), showing a series of transactions between January and May 2020 from Ghosn’s Coinbase account to one belonging to Peter Taylor. Ghosn transferred what was then worth $500,000 of bitcoin to Taylor in seven transactions – the 63 bitcoin would now be worth $608,000. Michael Taylor, a former green beret, and Peter Taylor are currently being held by U.S. authorities on the request of Japan, which is trying to extradite them. U.S. prosecutors filed the evidence in opposition to the Taylors’ bid to be released on bail. Wednesday’s filing shows a bank account managed by Peter Taylor also received two wire transfers, totaling over $870,000, from Carlos Ghosn’s account in October 2019. Ghosn was arrested in November 2018 on allegations of false accounting and then of shifting a personal loss of $16.6 million onto Nissan’s books. Pleading innocent, Ghosn was held under house arrest for more than a year until his escape. In December, he was smuggled out of the country in a double-bass case by the Taylors, who pretended to be a band playing at a dinner party. Ghosn is now hiding out in his childhood home of Lebanon, having accused the “rigged” Japanese justice system of denying his basic human rights. See also: Wanted Wirecard Exec Said to Be Sheltered by Secret Service in Russia See the Coinbase evidence below: Related: Ukraine's Digital Ministry to Trace Suspicious Crypto Using Crystal Blockchain Software Related Stories Carlos Ghosn’s $600K Bitcoin Escape Fee Paid via Coinbase Carlos Ghosn’s $600K Bitcoin Escape Fee Paid via Coinbase Carlos Ghosn’s $600K Bitcoin Escape Fee Paid via Coinbase View comments || New York man charged with defrauding investors of more than $4.5 million in cryptocurrency scheme: A New York man was arrested Thursday on charges of scheming to defraud investors into investing more than $4.5 million in cryptocurrency assets. A criminal complaint filed on July 9 charged Jae Woo Kim, 27, with one count of wire fraud, prosecutors U.S. Attorney David L. Anderson and the Federal Bureau of Investigation Special Agent John L. Bennett said in the report . Kim appeared before the U.S. Magistrate Judge Sallie Kim on the morning of July 16 to face the charges pressed against him as a result of an investigation by the FBI. The complaint and affidavit allege that Kim portrayed himself as a cryptocurrency trader to friends and acquaintances starting in October 2017. He then allegedly sought loans for business or cryptocurrency trading purposes, per the victims. Meanwhile, he used cryptocurrencies Bitcoin (BTC) and Ether (ETH) to sponsor transactions as part of the alleged scam and transferred the assets he received in the form of cryptocurrency or U.S. dollars to gambling websites outside the country. By May 2020, Kim had persuaded three investors to finance what he called "a fairly modest operation," according to the FBI. Further, he has been trying to solicit loans from new investors since February 2020. If found guilty, Kim could receive a sentence of up to 20 years in prison and a $250,000 fine penalty. © 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. || Ethereum History in 5 Charts: Five years ago this week, the first general-purpose blockchain went live on a mainnet. Ethereum paved the way for a whole new use case for blockchain technology untethered from Bitcoin’s original vision as electronic cash.
CoinDesk marked the milestone with a specialseries of stories,live–streamedconversationsand even apop-up newsletter. These charts first appeared in the newsletter, one for each day.
Here are five charts for understanding Ethereum’s evolution.
Related:Ethereum 2.0: Closer Than Ever, Still Plenty of Work to Do
Not one year after the launch of Ethereum, a seminal event split the community in two.
So acute was the disagreement between these two subcommunities that the row resulted in the creation of a new cryptocurrency called “ethereum classic,” cloned from the original Ethereum codebase.
Ethereum classic was created July 20, 2016, after $60 million worth ofether(ETH), Ethereum’s native cryptocurrency, was stolen from users of a dapp known asThe DAO. At the time, The DAO was the only dapp of its kind where users could pool funds and vote on which projects the money would be invested in. The DAO’s vision (before it was hacked and drained of a significant chunk of its finances) was to be an investor-guided venture capital fund.
After weeks of deliberation, Ethereum developers reached a consensus that they should turn back the clock – reverse The DAO hack transactions and restore users’ lost ETH. The changes could only be implemented through a network-wide upgrade, also calleda hard fork. Those who opposed the change argued in favor of retaining the integrity of the original blockchain’s history of transactions and balances – hacked funds and all.
Related:CoinDesk Live Recap: Co-Founders Revisit Ethereum's Launch Drama
So, on July 20, 2016, when the upgrade to restore user funds was executed, the Ethereum blockchain split in two. The portion of the community that retained the original log of transactions and balances from The DAO hack and did not upgrade the software created a parallel network, Ethereum Classic.
Since the split, the Ethereum network has hard forked seven additional times, though none of these subsequent upgrades have reached the same level of controversy as “The DAO Fork” of 2016.
The first dapp on Ethereum to gain real user traction was a collectibles game known as CryptoKitties. Launched in November 2017, the “digital cats” became so popular they were covered by news outlets around the world includingThe Financial Post,BBCandThe New York Times.
At the height of their popularity, tokenized cats were trading on Ethereum for upwards of$200,000. However, the influx of users and a high volume of transactions from this one viral dapp clogged the Ethereum blockchain to unprecedented levels. A backlog of30,000 transactionshad piled up by December 2017, meaning that users would have to wait days for their transfers of ETH to be confirmed.
The developers behind CryptoKitties hastened to help stem the tide of new usersby increasing game fees. Shortly after CryptoKitties’ launch, Ethereum saw the highest total for daily transaction fees in its history, on Jan. 10, 2018. Over $4.5 million was collected in fees by Ethereum miners that day. The same month, CryptoKitties reached250,000 registered users.
In many respects, the CryptoKitties craze was the rude awakening that reminded Ethereum developers of the platform’s technical limitations. How could Ethereum become the world computer when one viral dapp was enough to overwhelm it? If the developers wanted to be serious about onboarding not thousands but millions of dapp users, they would need to come up with a concrete plan to increase throughput.
The need for Ethereum 2.0 and its expected benefits to network efficiency as well as scalability has only grown stronger since the CryptoKitties craze of 2017. The popularity of initial coin offerings (ICOs) – a way to crowdfund early stages of a cryptocurrency project – by dollar amount raised reached its peak in 2018. A total of$7.8 billionwas raised for over1,000 projectsthat year. According toICObench, over 80% of all ICOs rely on the Ethereum blockchain to create their tokens and issue them to investors.
Trends like the ICO boom of 2018 are indicative of the ways blockchain technology can be leveraged in more ways than simply peer-to-peer electronic cash. Ethereum, as the world’s first general-purpose blockchain platform, has become the central hub where dapp developers congregate to build any and all types of use cases for blockchain, be it gaming- or finance-related.
As a result, despite the technical limitations of the platform, dapp developer activity on Ethereum continues to thrive. The latest trend dominating user traffic and transaction volume on Ethereum isdecentralized finance (DeFi). The DeFi movement currently sweeping Ethereum is made up of dapps modeled after traditional financial players such as lending services, exchanges and derivatives markets. As of July 29, 2020,$3.68 billionworth of crypto assets are locked by users into various DeFi protocols.
Ethereum’s vision since its inception has always been to be “the world computer” on top of which decentralized applications (dapps) and assets of any kind can be freely created and deployed.
To this end, Ethereum developers pioneered new technology in the emerging space of blockchain called “smart contracts.” A new programming language called Solidity was invented to help code dapps on Ethereum. In order to ensure interoperability between different dapps on the network, common frameworks were developed – like the ERC-20 and ERC-721 token standards.
These innovations have blazed the trail for other general-purpose blockchain platforms to emerge since Ethereum’s birth in 2015. EOS, Stellar, Tezos and Tron are four cryptocurrencies in the top 15 by market share that also feature dapp creation and deployment. Despite the growth in the number of alternative dapp platforms, Ethereum remains the most popular general-purpose blockchainboth in terms of number of users and dapps,as shown in the chart above.
Ethereum hasn’t fulfilled its vision yet, however. Developers are convinced that the current blockchain infrastructure is wholly inadequate to handle an influx of millions, if not billions of users around the world. This was always the suspicion of the early founders of Ethereum, includingVitalik Buterin. Five years after releasing their creation into the wild, Buterin and others have worked out a roadmap called “Eth 2.0” to bring Ethereum’s development to completion. Eth 2.0’s first step is expected to launchsometime this yearor early next.
Ethereum hasn’t fulfilled its vision yet.
Developers are convinced that the current blockchain infrastructure is wholly inadequate to handle an influx of millions, if not, billions of users around the world. This was always the suspicion of the early founders of Ethereumsuch as Vitalik Buterin. Five years after releasing their creation into the wild, Buterin and others have worked out a roadmap called “Ethereum 2.0” to bring Ethereum’s development to completion and it is anticipated to launchsometime this yearor early next.
The Ethereum 2.0 roadmap is almost as ambitious as the original one which brought the first dapps into existence. While the launch of this technology is forthcoming, an important part of understanding Ethereum’s five-year history lies in studying the many iterations that Ethereum 2.0 underwent in its years of planning.
Originally, Ethereum 2.0 in 2015 was thought of as the final development phase for the project and dubbed “Serenity.” Serenity was tentatively expected to be rolled out 16 months after initial mainnet launch (which would have been November 2016). The upgrade would transition Ethereum from its reliance on a computationally intensive process for block production inherited from Bitcoin, known as “mining,” to a more energy-efficient process of validating.
To this end, developers created what is called the “difficulty bomb” to slowly but surely encourage this transition away from mining. The bomb, which was activated on March 14, 2016, increases the difficulty levels for miners to find an Ethereum block over time. This schedule at which this bomb slows block production has been delayed three times over the course of the last five years as developers re-worked plans for launching Ethereum 2.0.
The most recent delay to the difficulty bomb occurred on Jan. 2, 2020. This may be the last time the difficulty bomb is pushed back as tentative estimationsby some developerssuggest the transition to Ethereum 2.0 could begin officially sometime this year and replace the existing network by late next year.
While there is no telling what new technologies and standards of blockchain practice will be innovated as a result of Ethereum 2.0, looking back at the first five years of the network’s development does give some indication. In that time, Ethereum has undergone network-splitting upgrades, faced crippling technology bottlenecks, advanced new forms of fundraising for crypto projects and formalized a launch plan for migrating to Ethereum 2.0.
• Ethereum History in 5 Charts
• Ethereum History in 5 Charts || Twitter Accounts of Kanye West, Apple, Jeff Bezos, Barack Obama, Elon Musk and More Hacked by Bitcoin Scammers: Click here to read the full article.
UPDATED:On Wednesday evening, theTwitterSupport account said that the hacking of several high-profile accounts was a “coordinated social engineering attack by people who successfully targeted some of our employees with access to internal systems and tools.”
The account added that the investigation will continue, and “Internally, we’ve taken significant steps to limit access to internal systems and tools while our investigation is ongoing.”
Multiple high-profile accounts on Twitter were hijacked by a coordinated group of cryptocurrency scammers Wednesday, including those ofKanye West, Apple, Barack Obama, Mike Bloomberg, Joe Biden, Uber,Jeff Bezos, Elon Musk and Bill Gates.
The hackers’ tweets have since been deleted from the affected accounts. A Twitter spokesperson directed an inquiry to updates from the Twitter Support account, whichposted a messageat 5:45 p.m. ET saying, “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.”
The Twitter Support team subsequentlysaid, “You may be unable to tweet or reset your password while we review and address this incident.” Twitter had disabled verified accounts from tweeting temporarily.
The scams involved promises that users would double their money if they sent cash in the form of Bitcoin to a specific account. The hacked tweet from Bloomberg’s personal account, for example, said, “I am giving back to the community” and asked users to send $1,000 in Bitcoin to receive $2,000 back.
According toCNBC, the hackers’ message that was tweeted via Gates’ account read: “Everyone is asking me to give back, and now is the time. I am doubling all payments sent to my BTC address for the next 30 minutes. You send $1,000, I send you back $2,000.”
The hacked tweet from the @Apple account was notable because it has not sent any tweets in the nearly nine years since it was created on the platform.
Almost 300 people had been duped by the scam after the bogus tweets were posted, the New York Timesreported. A Bitcoin account that was linked to from the hacked tweets had received more $100,000 at the current exchange rate,according to Blockchain.com, although observers have noted that scammers sometimes seed their own accounts to appear legitimate.
“Tough day for us at Twitter. We all feel terrible this happened,” Twitter CEO Jack Dorseytweeted. “We’re diagnosing and will share everything we can when we have a more complete understanding of exactly what happened.”
Other Twitter accounts targeted in the coordinated attack included Kim Kardashian West, Wiz Khalifa, Warren Buffett, YouTube creator MrBeast, Wendy’s and Cash App (a mobile payment service developed Dorsey-led Square), as well as @bitcoin, @coindesk, @coinbase and @binance, TechCrunchreported.
Twitter has suffered hacking attacks before, but nothing on the scope of the July 15 barrage of hijackings. In August 2019,Dorsey’s own Twitter account was compromisedwith the hackers tweeting racial slurs and a bomb threat before the account was secured.
Twitter shares, after closing up 3.75% Wednesday, dropped more than 3% in after-hours trading in the wake of the attack. || Experts respond to landmark decision enabling US banks to offer crypto: The Office of the Comptroller of the Currency (OCC) in the United States has published a letter that gives banks the freedom to hold cryptocurrency assets on behalf of its customers. This is a huge step forwards the mass adoption of cryptocurrencies as it potentially opens the asset class up to millions of people in North America. Banks, however, may not be keen on offering common digital assets like Bitcoin and Ethereum straight away, with it being more likely that CBDCs or bespoke bank tokens like JP Morgan’s coin will be offered. Central Bank Digital Currencies have been at the centre of intense discussion over the past 12 months with the Bank of England and Banque of France beginning testing of a digital Pound and digital Euro. As expected, the news was met with both optimism and skepticism across participants in the crypto industry. For example, Dave Hodgson, Chief Investment Officer of NEM Group and Managing Director of NEM Ventures , said: “The move by the US OCC is a positive one and Brian Brooks, Acting Comptroller of the Currency, was no doubt instrumental in this decision. “While a lot of the current crypto community may not wish to custody assets with a traditional bank, it is a big step forward that Federal/National banks are now allowed to custody digital assets–as their State chartered counterparts have been able to for some time now. “At a retail level, the mass market is more comfortable with traditional banking than with private keys and crypto exchanges, so this decision should further support growing levels of adoption.” The Office of the Comptroller of the Currency (OCC) clarifies that any USA national bank can hold onto the unique cryptographic keys for a cryptocurrency, clearing the way for national banks to hold digital assets for their clients👍 https://t.co/9Xrc49VOGu pic.twitter.com/RNbeJ9Ksv2 — #JTS🌎❤️✌️ (@JTS_Global) July 23, 2020 Seamus Donoghue, VP Sales and Business Development at METACO added: “The announcement by the Office of the Comptroller of the Currency (OCC) that all nationally chartered banks can provide custody services for cryptocurrencies is the biggest news of the year in crypto markets and a complete game changer. Story continues “With the stroke of a pen, the OCC has changed the landscape for crypto custody in the US and globally. Enabling US banks to offer crypto custody is another huge step towards mainstream institutionalization and retail access to cryptocurrencies. “This change will be equally groundbreaking for incumbent crypto custodians. They have so far been able to grow their market share and offering without the pressure of competition from incumbent regulated banks. These institutions possess the extensive client networks and robust balance sheets that are so critical to provide investors comfort that the custodian has the financial strength and sustainability to keep their assets safe come what may.” For more news, guides and cryptocurrency analysis, click here . || Bitcoin is still the crypto of choice for darknet marketplaces: A survey conducted by The Block Research has found that bitcoin remains the cryptocurrency of choice for payments and withdrawals for many darknet marketplaces.
The Block's Steven Zheng found that among the 49 darknet markets surveyed, about 98% of them support bitcoin.
Monero is the second-most popular cryptocurrency — it's used by 45% of markets — with litecoin and bitcoin cash drawing support from 29% and 12% of the survey markets, respectively. The results largely mirror those gleaned duringa 2019 survey, though in that case, ETH was third-most popular at the time.
A report published earlier this year by Bitfury Crystal found that darknet entities are turning to transaction mixers — which help obscure the provenance of funds —in increasing numbers.
Read The Block Research's full reporthere.
© 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. || NFTs Are Boring; Here’s How to Make Them Fun: Andrew Thurman is a freelance writer, a business development and content consultant forChainlink Labsand an adviser toIdeaMarkets.
In the nearly 40 years since Atari launched Pong, the first commercially available video game, enthusiasts and designers have elevated the theoretical underpinnings of video games into a whole intellectual discipline. For the scholars and theorists who populate this field, “fun” is not an abstraction or a subjective ambiguity, but instead a concrete state achieved through the strategic deployment of structured game elements – and, according to them, non-fungible tokens (NFTs) are boring as dirt.
So what is fun? Raph Koster’s “A Theory of Fun for Game Design” argues that fun is ultimately rooted in cognitive psychology – specifically, our ability to learn. The human mind excels at recognizing patterns, gathering and analyzing information and using those inputs to dynamically respond to new situations. Put differently, fun games are “richly interpretable situations” – a phrase from Craig Perko, who himselflaunderedit from neuroscientists Biedermal and Vessel.
Related:Why the Decentralized Web's Development Is Unstoppable
See also:‘Make Bitcoin Fun Again’: New Lightning App Lets You Buy Pizza With BTC
This is where the NFT space falls short. Currently, many of the most popular NFTs projects use the underlying technology to create or sell collectibles. This success is derived in part because NFTs are an ideal collection vehicle – I often think about NFT developer Nate Hart’s haunting and glib motto for hisChainfacesproject:“We are ready to watch over you forever ( ͡° ͜ʖ ͡°).”
NFTs are immutable, immortal, resistant to theft, impossible to forge and come with built-in provenance tracking. Institutional interest in these benefits is evidenced by trials from art behemoths Soetheby’s and Christie’s. Additionally, there’s a half dozen or so blockchain-based marketplaces locked in healthy competition for dominance. Experiments in interactivity and usability, such as Decentraland’s Museum District, are also giving collectors a way to enjoy their pieces beyond sitting in a cold wallet.
Collecting, however, isn’t fun. Psychoanalyst Werner Muensterberger studied compulsive collectors and found their tic is a byproduct of material insecurity, childhood trauma or anxiety relating to self-actualization. Upon obtaining a new item, an appeased collector might briefly enter a “self-induced, trancelike state of mind” – until, of course, the need for a new item again creeps to the forefront of their thoughts.
Related:An Open Letter to Our Dear Bankers: Be Brave
Loonies, weirdos and the occasional prospector looking to mine liquidity premiums: This is the collecting population (myself included). The growing ecosystem and the ever-slicker user interface/user experience (UI/UX) platforms ornamenting NFT-backed art and collectibles are all heartening from a development perspective, but ultimately they won’t lead to widespread adoption. Collectors will always be on the fringe. If NFTs are going to break mainstream, they need a more popular vehicle.
See also:As Museums Go Dark, Crypto Art Finds Its Frame
One option proponents put forth are NFT-based video or card games. Like with NFTs-as-collectibles, the benefits are easy to name: NFT game items allow hobbyists to better monetize their time with tradable assets, provide access to larger player pools and markets, and enable cross-game usability through “metaverses.” Significant as these improvements over legacy game items might be, they still center on utility and value – not fun. This alone might be enough to bring the masses in, but I doubt it.
The path forward is paved by embracing a fundamental, but under-appreciated property of NFTs: their underpinning smart contract logic. Like structured game logic, smart contract logic can be used to make NFTs fun.
Consider the hybrid conservation fund and collectibles platformWildcards. Wildcards is governed by an economic policy known as a Harberger tax. Collectors buy NFTs representative of different endangered animals, and pay a small tax to maintain them (fees that are donated to conservation organizations). But anyone at any time can swipe an NFT from another collector by paying its full price.
A dynamic, gamified NFT asset that can be moved at any time. As a collector, it makes me shudder and clutch my childhood baseball cards to my chest. As a fan of games? Kinda sounds fun!
Tezos co-founder Kathleen Breitman and her team at Coase have brought similar functionality to their trading card gameEmergents, which ties popular NFT-backed cards to bonding curves, or algorithms that adjust prices based on demand.
Not all NFT projects need to introduce such elegantly designed systems to become more fun.
It’s a technological solution to the limits imposed by traditional card markets. In addition to making all cards accessible to all players, Emergents incentivizes clever strategists totheorycraftcompetitive decks from cheaper cards, which would subsequently increase their price. Similar to how DeFi has beenaptly comparedto a multi-player game, or MMO, this system would blend the game and the card market into one experience – a highly interpretable, complex and fun game-within-a-game.
Not all NFT projects need to introduce such elegantly designed systems to become more fun. One way to unlock fun experiences (and immense potential economic impact) is by incorporatingsmart-contract based randomnessto determine the distribution, appearance or attributes of an NFT.
TakeThe Six Dragons, a blockchain-based video game where players gather NFT-backed “ingredients” to forge into more powerful weapons via high-level “blockchain blacksmiths.” The new weapons’ stats, rarity, and even the slight possibility that all components are destroyed are determined by a mixture of player experience and input randomness.
See also: Michael Casey –NFTs Are Here. But Where Are They Headed?
This feature, like those offered by Wildcards and Emergents, goes beyond offering players some extra utility and the possibility of a buck by moving things on-chain. The developers of these projects have used NFTs to create entirely new game dynamics, ones which fundamentally rely on and are enably by the security and transparency of smart contract functionality.
They’re simple, but potentially revolutionary twists that elevate NFTs from static assets to fun, dynamic game elements rooted in smart contract logic.
In the introduction to his book, Koster likens the growth of video games to a toddler learning to walk: slowly, clumsily, sometimes painfully. Right now it seems like NFT adoption faces a similarly long process. Perhaps by tapping into what makes NFTs truly special – their ability to dynamically respond to human inputs via smart contracts – the space might bypass its growing pains and reach a broad audience sooner rather than later.
• NFTs Are Boring; Here’s How to Make Them Fun
• NFTs Are Boring; Here’s How to Make Them Fun || Social Media Companies Are Too Big to Fail: Jenny Leung is a blockchain and fintech attorney at Blakemore Fallon PLLC dba Ketsal. This year, 2020, is the year social media institutions became systemically important. This term, systemically important, typically describes a financial institution whose failure poses a significant threat to the economy and is thus too big to fail. Systemically important financial institutions ( SIFI ) have been subject to additional regulatory scrutiny. Related: Money Reimagined: Lets Be Privacy Scolds If certain social media institutions were to fail today, their failure would pose a significant threat to society due to their outsized influence, size, reach, societys co-dependence on them and their power to shape the interpretation of public events. These systemically important social media institutions (SISMI) have become so influential and embedded in society their failure may cause the economy to suffer. But that doesnt necessarily mean the solution is as simple as building decentralized alternatives, as some technologists have suggested , or pursuing antitrust action, as outlined in Wednesdays congressional investigation into Big Techs anti-competitive behavior. The threats go much deeper than that. See also: Michael Casey CoinDesks Twitter Hack Proved the Media Cant Rely on Web 2.0 Recent phenomena highlighted SISMIs helpful influence during the COVID-19 pandemic: the ongoing Black Lives Matter movement and the Twitter hack of July 2020 . Society now depends on SISMIs to keep businesses and influencers afloat, to support political movements, to document protests and police brutality , to livestream everything from yoga classes to conferences, to provide live tornado warnings , to break news, to propagate political rallies, to expose violent rioters , to hold police accountable and to render a verdict as to what company, product or person should be canceled . Story continues Related: Central Banks Are Privacy Providers of Last Resort During the pandemic, the reliance on SISMIs has grown as businesses shut their doors, switched to online delivery and online streaming and requested virtual donations to keep them alive. As New York City found itself paralyzed under Pause and Curfew , I found myself turning to Instagram and Facebook for updates when neither Google Maps opening hours nor Seamless were reliable. I was glued to the Citizen App for live updates as the protests marched through my neighborhood and past my doorstep. At the same time, weve seen violent crimes livestreamed, genocide incited, non-consensual harvesting of personal data for political advertising, doxing of viral subjects, financial scams and, more recently, the hacking of prominent social media accounts all through the very same platforms. Despite its growing importance, social media inclusion doesnt quite have the ring of financial inclusion. As confirmed by Twitter itself, hackers took control of 45 accounts, including those of Barack Obama, Joe Biden, Elon Musk, Kim Kardashian and Vitalik Buterin, and sent tweets that tricked followers into sending bitcoin to the hackers bitcoin address. While only 12.87 bitcoin (approximately $142,000 at press time) had been sent , the real dangers lie in the fact that (1) hackers gained site-wide admin access and tweeted publicly from prominent accounts with global reach and (2) the hackers were able to access and download potentially sensitive unencrypted direct messages. See also: Brenna Smith Last Weeks Big Twitter Hack Was Years in the Making These events highlight societys increasing dependency on mega-platforms for matters ranging from business to finance, justice and politics. We may approach a situation where a political figure has a voice across every social media platform but their opponent may have been banned on the same influential platforms, with no formal appeal process available. As Zoomers, raised on social media, begin to reach voting age, the banning or censoring of political figures and public events may become a real issue as SISMIs engage in more active censorship and control. Despite its growing importance, social media inclusion doesnt quite have the ring of financial inclusion. Bitcoin and decentralized finance applications have been gaining traction on the principle that everyone in the world deserves access to financial services. It may only be a matter of time before an unstoppable, decentralized and workable social media platform provides everyone with the ability to have a voice. What next? If social media institutions have become systemically important, governments, regulators and political leaders should recognize how tightly intertwined SISMIs have become with society and the economy and acknowledge the risks that come with this marriage. Some pundits noted the Twitter hackers could have started a war between world leaders, incited violence, manipulated the markets or created social panic. The latter actually occurred in 2013 after hackers tweeted from the account of the Associated Press, saying the White House had been hit by two explosions and that President Obama was injured, sending the U.S. stock market into freefall. We almost saw history repeat when the Twitter hackers actually hijacked Barack Obamas Twitter account earlier this month. See also: Nathaniel Whittemore No, the Twitter Hack Wasnt About Bitcoin Are we ready for a world economy dominated by SISMIs? Imagine a stock or crypto market driven by viral posts and TikTok memes , celebrities and corporate personalities , coin of the day posts or trends rooted in irrational exuberance . Once SISMIs pose a bigger threat to the economy than SIFIs (whether directly through markets or indirectly through civil unrest), it may already be too late to be cautious about their influence. While Wednesdays congressional antitrust hearing was a good start, the issue of antitrust is only one item in a growing list of problems. Whether the solution is more regulation, breaking up SISMIs , making social media decentralized or treating SISMIs like SIFIs is a conversation for another day. I simply propose we open our eyes to their economic and societal influence. Related Stories Social Media Companies Are Too Big to Fail Social Media Companies Are Too Big to Fail
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 11414.03, 10245.30, 10511.81, 10169.57, 10280.35, 10369.56, 10131.52, 10242.35, 10363.14, 10400.92
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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)]
Asian Shares Jump as Restrictions are Lifted While New COVID-19 Cases Rise in South Korea, China: The Asia-Pacific shares are trading higher early Monday as investors choose to focus on the future instead of the past. In this case, the positive outlook for the future is being fueled by optimism as more countries restart their economies. Additionally, like Wall Street on Friday, Asian investors are ignoring the worst U.S. employment data since World War II. At 02:56 GMT, Japan’s Nikkei 225 Index is trading 20466.58, up 287.49 or +1.42%. Hong Kong’s Hang Seng Index is at 24685.11, up 454.94 or +1.88% and South Korea’s KOSPI Index is trading 1948.95, up 3.13 or +0.16%. China’s Shanghai Index is trading 2904.23, up 8.88 or +0.31% and Australia’s S&P/ASX 200 Index is at 5455.60, up 64.50 or +1.20%. Hong Kong Bounces Back A week after posting its worst day in 6-weeks, Hong Kong’s Hang Seng Index is bouncing back on Monday. Last week’s selling was fueled by the release of the city’s economic growth data report that showed its biggest-ever quarterly economic contraction. First-quarter GDP dropped 8.9% compared with the same period a year earlier. Monday’s surge is being fueled by carryover buying from Friday that was fueled by Beijing further opening its financial markets to foreign investors and as talks between U.S. and Chinese trade officials lifted sentiment. Global Easing of Coronavirus Lockdowns and Restrictions Main Driver of Strength Asian Traders are not only focusing on the region, but also on the global response to the virus. Investors continue to watch for developments on the coronavirus front amid hopes of global economies reopening as social distancing measures are eased. U.K. Prime Minister Boris Johnson outlined over the weekend a “conditional plan” to slowly reopen society and the economy. Disney is also set to reopen its Disneyland theme park in Shanghai on Monday. Gains May Be Limited by New Virus Infection Headwinds Despite the early strength on Monday, the markets still face headwinds which may limit gains. South Korea warned on Sunday of a potential second wave of cases, according to Reuters. That came days after the country, praised for its rapid response to stem the spread of an initial outbreak, eased restrictions. Infections rebounded to a one-month high. Story continues Meanwhile in China, the National Health Commission (NHC) reported 17 new cases, of which 10 were locally transmitted infections and seven were imported, or attributed to travelers from overseas. New Infections also accelerated in Germany. Japan Plans Second Package to Combat Economic Impact Japan’s Nikkei 225 Index jumped early Monday after Reuters reported, citing the Nikkei newspaper, the country is set to launch a second budget to help the country tide over the economic fallout from the pandemic New measures will include aid for companies struggling to pay rent, and more subsidies for those hit by slowing sales, according to the report. This article was originally posted on FX Empire More From FXEMPIRE: Stocks Resume Rally Despite Miserable Data Bitcoin – Next Buying Opportunity NZD/USD Forex Technical Analysis – Could Accelerate to Upside Over .6176 Fed Members Not Looking for ‘Snap Back’ Economic Recovery Ahead of Powell Speech Wagers on WTI Crude Oil Reach Highest in a Year Riskier Assets Find Early Support. Chatter from Beijing and Washington Could Rock the Boat || Bitcoin Is a Big Opportunity for Investors in the Debt-Fueled Roaring Twenties: Related: Bitcoin Is a Big Opportunity for Investors in the Debt-Fueled Roaring Twenties With the destruction of the fixed income markets, the search for investable alpha has already begun Related Stories Stablecoins Are the Bridge From Central Banks to Consumer Payments To Get Serious About Decentralization, We Need to Measure It View comments || Latest Litecoin price and analysis (LTC to USD): With volatility slowly but surely creeping out of the cryptocurrency market, Litecoin has continued to consolidate in a sideways pattern above the $39.54 level of support. It has now been trading with in a 10% range for the past fortnight as it struggled to makes its way towards the psychological level of resistance at $50. As noted on Coin Rivet’s previous analysis , the daily 200 moving average is posing a key hurdle for a number of top cryptocurrencies, including Litecoin. It is currently coming in at $52.60, which means if it can breakout above $50 it could well be met with another stumbling block. The bullish narrative that is circulating among long-term Litecoin investors relates to the upcoming Bitcoin halving, which is expected to commence in 19 days . Historically when Bitcoin underwent a halving it acted as a catalyst for a series of bull markets, causing altcoins like Ethereum and Litecoin to rally significantly in the following months. The theory is that as Bitcoin’s price will surge as new supply coming onto the market gets slashed. Investors and traders will then take profits and diversify into more speculative assets, causing the notorious ‘altcoin season’ that many have been waiting for. However, the Bitcoin halving being a bullish event is far from certain this year as a result of the economic downturn the entire world is suffering. The coronavirus pandemic caused the stock market to suffer its worst slide since the 2008 financial crisis, while the likes of oil momentarily traded at a negative due to oversupply. Another decline like this would certainty have an impact on cryptocurrencies as investors attempt to liquidate assets as panic sets in. For more news, guides and cryptocurrency analysis, click here . About Litecoin Litecoin was released in October 2011 by Charlie Lee, a former Google employee. It is a fork of Bitcoin, with the main difference being a smaller block generation time. The protocol also increased the maximum number of coins and implemented a different script-based algorithm. Story continues Litecoin is one of the leading cryptocurrencies and is one of the top 10 cryptocurrencies by market capitalisation. More Litecoin news and information If you want to find out more information about LTC 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/litecoin-becomes-official-cryptocurrency-of-the-miami-dolphins/ 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 . || What You Need To Know About Bitcoin's Halving: TheGrayscale Bitcoin Trust(OTC:GBTC) was down more than 10% after bitcoin underwent a landmark event known as a “halving.”
At 3:23 p.m. Eastern on Monday, bitcoin cut in half the amount of bitcoins that are rewarded to cryptocurrency miners. These halving events are scheduled to take place roughly every four years as a way to guard against inflation.
The total number of bitcoins that will ever be available is 21 million, but the rewards bitcoin miners receive for their efforts will repeatedly halve over the years as the world’s supply approaches that cap. Monday’s halving is the third such event in bitcoin’s history.
Cryptocurrency Market Reaction
Previous halvings have resulted in mixed subsequent trading action in bitcoin.
Bitcoin prices were up 7% in the month following the first halving in 2012, but down 10% in the month following the second halving in 2016.
Bitcoin has had a big year so far in 2020. The price of bitcoin is up 23.1% so far this year to near $9,000.
While it’s unclear what kind of impact the halving will have on bitcoin prices, it will certainly make life more difficult for bitcoin miners given that it will cut their earnings power in half.
Bitcoin miners use specialized high-power computing rigs to solve complex math problems that are used to validate bitcoin transactions. The first miner to solve those problems gets paid in bitcoins. The payment dropped Monday from 12.5 BTC to 6.25 BTC.
Bitcoin Wallet Growth On The Rise
DataTrek Research co-founder Nicholas Colas recently observed that the 2.3% bitcoin wallet growth in April was the highest growth in more than six months. Colas said there are two potential explanations for the rise in wallet growth and the spike in Google search volume related to bitcoin in mid-March.
“Either ... people are getting excited about bitcoin’s ‘halving,’ when its algorithm starts reducing new issuance by half ... or ... as with our recent observation about bored, lock-downed gamblers and sport betters drifting off to day trade stocks, some percentage have also found their way into crypto currencies,” he said.
Despite bitcoin bulls’ claims that bitcoin is a flight-to-safety investment, bitcoin prices plummeted 30% from Feb. 23 to March 23, the period in which the S&P 500 dropped 32.9%.
The Grayscale Bitcoin Trust was down 10.13% at $10.29 at the time of publication Monday. Bitcoin was trading down slightly at $8,680.42.
Benzinga’s Take
Bitcoin will remain an extremely volatile, extremely high-risk investment even after the halving. Bitcoin has been a huge long-term winner for investors up to this point, but skeptics like Warren Buffett have repeatedly pointed out that cryptocurrencies like bitcoin don’t produce anything and have no intrinsic value.
Do you agree with this take? [email protected] your thoughts.
Related Links:
Bitcoin Is Still Failing As A Flight To Safety Investment
Boredom Is The Enemy? A Look At Bitcoin Since Peaking At ,000
Latest Ratings for GBTC
[{"Feb 2018": "Jul 2015", "Buckingham": "Wedbush", "Initiates Coverage On": "Initiates Coverage on", "": "", "Sell": "Outperform"}]
View More Analyst Ratings for GBTCView the Latest Analyst Ratings
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© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || First Mover: Bitcoin Catches Almighty Dollar Even During 2020’s Dash for Cash: After swinging wildly for most of this year, the price of bitcoin is now back to roughly where it started 2020 – around $7,100.
And sincebitcoinis priced in dollars, the flat year-to-date performance really just means it’s keeping pace with the U.S. currency, which has become one of the world’s most in-demand assets as the coronavirus prompts a flight by investors everywhere into cash.
You’re readingFirst Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money so you don’t have to. You cansubscribe here.
Related:Bitcoin Rallies 10% Ahead of CME April Futures Expiration
If bitcoin were a government-issued currency, it would be one of the world’s top performers – beating not only popular emerging-market tenders like the Mexican peso and South Africa’s rand, but also advanced-nation stalwarts like the euro, British pound and Canadian dollar.
“Bitcoin is behaving as a store of value much the same as king dollar is behaving as a store of value,” Paul Brodsky, partner at cryptocurrency and blockchain investment firm Pantera Capital, said in a phone interview.
Many cryptocurrency investors see bitcoin as a hedge against inflation, similar to gold. And many of those investors believe bitcoin will eventually benefit from the Fed’s trillions of dollars of emergency money injections, which could spur inflation over the long term.
But guess what bitcoiners can already cheer about? Beating the euro during a year that the International Monetary Fund predicts will see the world’s worst recession at least since the 1930s.
Related:Blockchain Bites: China’s Miners, Africa’s Venmo and Cuba’s New Exchange
“What you would expect to see going forward are hard assets, like gold and bitcoin, outperform as fiat currencies get depreciated,” said Greg Cipolaro, co-founder of cryptocurrency analysis firm Digital Asset Research.
Think about it this way: Dollars have been in such high demand from investors, businesses, governments and central banks around the world that the Federal Reserve has had to inject more than $2 trillion of new money into financial markets just to preserve stability.
There’s no real comparison, of course, between the bitcoin market and the global market for dollars: The total outstanding value of all bitcoin ever created is currently around $130 billion, less than 1/100th of the $16 trillion U.S. money supply.
But as an investment, bitcoin is beating most world currencies and breaking even with the dollar.
One of the Fed’s motivations for the massive money injections is, ultimately, just monetary policy: The U.S. central bank is trying to counteract the powerful deflationary forces of an economic contraction.
Oil, which is priced in dollars, is now trading at about $14 a barrel, down from $61 at the start of the year, based on the benchmark U.S. futures contract. That’s deflation – a classic economic reaction to falling demand.
Bitcoin, by contrast, has held its value: One unit of the cryptocurrency now buys 507 barrels of oil, about five times what it could at the start of the year.
Any currency’s ultimate value is its purchasing power. And bitcoin is holding its own against the almighty dollar.
BTC: Price: $7,081 (BPI) | 24-Hr High: $7,186 | 24-Hr Low: $6,943
Trend: Bitcoin is in the green again Thursday, after a small rally on light trading volumes.
The top cryptocurrency is currently trading near $7,100, representing a 2 percent gain on the day. The cryptocurrency continues to show no real sign of breaking from the recent narrow range between $6,500 and $7,300.
The MACD, an indicator used to judge momentum and change in trend, shows the potential for a move to the downside, courtesy of falling histogram bars hovering near the neutral 0 line.
Should a loss at the 50-day moving average occur (yellow line on chart) – currently around $6,771 – a deeper drawdown shouldn’t be ruled out. A likely area of support in such a case would be toward the bottom of the range at $6,520 – a level that has held steady since April 2.
The relative strength index (RSI) is trending bullishly, however. Should the bulls defend the 50-day average and the RSI doesn’t dip too far toward oversold, a bounce toward $7,300 is also plausible.
For now, traders will have to wait and see which direction is offered, as the all-important daily average should provide greater clarity moving forward.
It’s worth remembering theminer reward halvingis due in just 18 days, which has the potential to shake the market into action.
• Market Wrap: Oil Rebounds As Crypto Makes Gains, Especially Ether
• Blockchain Bites: Ripple Sues YouTube, Monero Hits the Box Office and Draper Wants Crypto Everywhere || Cryptocurrency experts predict bullish impact of Bitcoin halving: The largest event in the cryptocurrency calendar is almost upon us, with the Bitcoin block reward halving being just one week away, here is what the experts have to say about its perceived impact on price action. According to Simon Peters, analyst at investment platform eToro, the halving could not only see the price of bitcoin rise, as it has done following previous halvings, but it could also result in a whole new brand of crypto investors. Peters explains: “During and after the first halving in 2012, the key investors were those already involved in the asset class. The bitcoin investor base was almost exclusively made up of those in the know; blockchain scientists and data programmers as well as libertarians interested in the idea of a monetary system outside of political influence and central bank control.” He then concludes that the halving will cause an increase in retail investors leaping into the world of Bitcoin as mainstream media will begin to focus on its potentially surging price, as it did in 2017. The CEO of cryptocurrency exchange Luno is also bullish, insisting that volatility will return to the market tomorrow as much of Asia is off today. Luno’s CEO Marcus Swanepoel said: “We ended last week on a bullish note with Bitcoin pushing above $9,000 only for the price to drop over the weekend. However, this morning we have seen BTC again push above $9,000. “This second move higher in a short period of time is positive and could be the first indication that we have now started the run into the halving. Parts of Asia are again off today, but when they return tomorrow we will be just a week away from the halving so can expect to see an increase in volatility.” But as previously stated in Coin Rivet’s daily technical analysis, a bullish breakout is far from certain as it still needs to trade above $9,600 to take out the diagonal trendline dating back to December 2017. It’s also worth noting that price fell by more than 30% following the previous Bitcoin halving in 2016 before beginning to rally months later, so the effects of this year’s halving may not be as immediate as many suggest. Story continues BlockFi co-founder and CEO, Zac Prince, believes the halving is “perfectly timed” as a result of macroeconomics having shifted as a result of the coronavirus. “Bitcoin has already bounced back from its losses stemming to pandemic market reaction.” He said. “It’s increasingly being seen as a safe haven investment to diversify portfolios and as more people see the value, on top of ongoing peripheral retail pressure, we believe we will see the price rise steadily, and at times rapidly, over the next few years.” To keep up-to-date with coverage on the upcoming Bitcoin halving, click here . || Bluesky Digital Assets Corp., Provides an Update on Share Consolidation: Toronto, Ontario--(Newsfile Corp. - May 11, 2020) - Bluesky Digital Assets Corp., (CSE: BTC), (CSE: BTC.PR.A), (OTC Pink: BTCWF), ("Bluesky" or the "Corporation") announced that effective at market open on May 12 th , 2020 the Corporation's Common Shares will commence trading on the Canadian Securities Exchange on a consolidated basis of one (1) post-consolidation Common Share for every twelve (12) pre-consolidation Common Shares. As a result, the outstanding Common Share total of the Corporation will be reduced from 202,736,270 Common Shares to 16,894,689 Common Shares. Effective May 12 th , 2020, 09629B305 and CA09629B3056 will be assigned as the new CUSIP and ISIN numbers for the Corporation's post-consolidated Common Shares. As previously stated in the Corporation's May 4 th press release, a letter of transmittal (a "Letter of Transmittal") with respect to the Consolidation will be mailed to registered shareholders of the Corporation. All registered shareholders with physical certificates will be required to send their share certificates representing pre-Consolidation Common Shares along with a completed Letter of Transmittal to the Corporation's transfer agent, TSX Trust , in accordance with the instructions provided in the Letter of Transmittal. Additional copies of the Letter of Transmittal can be obtained through TSX Trust. All shareholders who submit a duly completed Letter of Transmittal along with their pre-Consolidation Common Share certificate(s) to TSX Trust will receive a post-Consolidation Common Share certificate. Shareholders who hold their Common Shares through a broker or other intermediary and do not have Common Shares registered in their name will not need to complete a Letter of Transmittal. There has been no change to the Corporation's Class - A Preferred Shares. 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 digital mining proprietary software. 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 digital currency industry. The Corporation is poised to capture value in successive phases as this industry continues to scale. For more information please visit www.blueskydigitalassets.com Story continues For further information please contact: Mr. Steve Low Investor Relations Boom Capital Markets T: (647) 620-5101 E: [email protected] Mr. Ben Gelfand CEO & Director Bluesky Digital Assets Corp. T: (416) 363-3833 E: [email protected] Mr. Frank Kordy Secretary & Director Bluesky Digital Assets Corp. T: (647) 466-4037 E: [email protected] 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 - THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/55596 || Market Wrap: Bitcoin Is Still Up 30% in 2020 After a Bumpy Week: Despite sliding in sympathy with stocks this week, bitcoin’s performance remains healthy this year, up 30% so far. Bitcoin (BTC) was trading around $9,412 as of 20:00 UTC (4 p.m. ET), gaining 2% over the previous 24 hours. At 00:00 UTC on Friday (8:00 p.m. Thursday ET), bitcoin was changing hands around $9,474 on spot exchanges such as Coinbase. The price began to decline, dipping to as low as $9,301, before picking up a bit. The price is well below the 50-day and 10-day moving averages, a bearish technical indicator. “The fight for the support pivot $9,750 eventually lost. The bears broke through the level and made a major drain,” said Konstantin Kogan, a partner at cryptocurrency fund of funds BitBull Capital. “There is a chance for another decline to $9,000” Read More: Why Bitcoin Suddenly Dropped 6% on Thursday However, despite the dip Thursday, Rupert Douglas, head of institutional sales for digital asset brokerage Koine, sees reason for optimism in the crypto markets. “Technically this is an important inflection point for bitcoin and I still believe we’re headed higher after several days of consolidation, having shaken out the weak longs,” Douglas said, referring to traders who dabbled in the crypto derivatives market this week. Related: Market Wrap: Bitcoin Is Still Up 30% in 2020 After a Bumpy Week Stocks fell Thursday, a day after Federal Reserve Chairman Jerome Powell gave a dour outlook on the economy. Bitcoin was caught up in the decline. Read More: Stocks’ Carnage Drags Bitcoin Down to $9K When prices in the bitcoin market began to fall, liquidations on BitMEX intensified the movement, squeezing out long positions. Hourly liquidations hit $45 million as of 16:00 UTC Thursday. “The correlation with stocks has been tight these last two days. Crypto is acting like a risk-on asset,” said George Clayton, managing partner of Cryptanalysis Capital . “ But all of this bitcoin volatility is still within the trend channel,” i.e., par for the course in crypto. Cryptocurrency stakeholders often scratch their heads watching the stock market. The recent fall in the S&P 500 to where it started the year may seem unhinged to them when bitcoin is up 30% this year, according to MarketWatch data . “The bullish technical picture for crypto is still intact. So is the macro picture. I cannot say the same for stocks and that confounding rally to the 2020 highs,” said Cryptanalysis’ Clayton. Other markets Digital assets on CoinDesk’s big board are mixed Friday. The second-largest cryptocurrency by market capitalization, ether (ETH), is trading around $236 and climbed 3% in 24 hours as of 20:00 UTC (4:00 p.m. ET). Story continues Read More: Why This Dev Built a ‘Centralized Ethereum’ on Top of Bitcoin’s Lightning The amount of gas, or small amounts of ether, sent on the Ethereum network to run smart-contract applications has steadily increased in 2020, a sign of increasing usage. The biggest cryptocurrency winners on the day include decred (DCR) climbing 7%, cardano (ADA) up X% and tron (TRX) in the green 3.7%. The largest loser on the day is iota (IOTA) in the red less than a percent. All price changes were as of 20:00 UTC (4:00 p.m. ET). Read More: Free Transactions Invite Systemic Attacks on Blockchains, Researchers Find In commodities, oil is flat, gaining less than a percent as a barrel of crude was priced at $36 as of press time. Gold is trading, up less than percent, trading around $1,731 for the day. The Nikkei 225 index of publicly traded companies in Japan ended trading in Asia down less than a percent on the day, dragged down by the transportation and mining sectors . The FTSE 100 index of top companies in Europe was essentially flat, up a tenth of a percent as economic data showed U.K. output dropped to 2002 levels . “Bitcoin is simply playing along right now. There’s not much else to it,” said Vishal Shah, an options trader and founder of Polychain Capital-backed derivatives platform Alpha5. In the U.S., the S&P 500 index gained 1.3%. Stocks experienced the largest losses since March for the week . U.S. Treasury bonds were mixed Friday. Yields, which move in the opposite direction as price, were up most on the 10-year, in the green 6%. Related Stories JPMorgan Analysts: Bitcoin Is Likely to Survive (as a Speculative Asset) Bootstrapping Mobile Mesh Networks With Bitcoin Lightning View comments || USD/JPY Fundamental Weekly Forecast – With Economies Reopening, Traders Will Be Watching Coronavirus Curve: The Dollar/Yen was mostly lower last week as investors turned more positive and less averse to risk amid an easing in coronavirus lockdown restrictions in several countries. Demand for the Japanese Yen increased after the Bank of Japan (BOJ) announced additional measures to support an economy battered by the virus. Meanwhile, the Fed came across as dovish in its monetary policy statement, pressuring the U.S. Dollar. Last week, the USD/JPY settled at 106.911, down 0.582 or -0.54%. Investors were encouraged early in the week to move money into riskier assets and out of the U.S. Dollar after the Australian states of Queensland and Western Australia said they would slightly ease social distancing rules this week as the number of people infected decreased on the continent. Encouraged by a fall in infection rates, Germany also has allowed on Sunday small retail stores to reopen, provided they adhere to strict distancing and hygiene rules. Now large corporations are following suit. Additionally, Italy will also ease lockdown measures from May 4. Bank of Japan The BOJ expanded its stimulus to help companies hit by the coronavirus crisis, pledging to buy unlimited amounts of bonds to keep borrowing costs low as the government tries to spend its way out of the deepening economic pain. The move puts the BOJ in line with other major central banks that have unleashed unprecedented amounts of monetary support as the health crisis stokes fears of a deep global recession. The central bank also sharply cut its economic forecast and projected inflation would fall well short of its 2% target for three more years, suggesting its near-term focus will be to battle the crisis. US Federal Reserve “The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals,” the central bank said in a statement at the end of a two-day policy meeting on Wednesday. Story continues The Fed’s statement came after data on Wednesday showed that the U.S. economy contracted in the first quarter. The Commerce Department said gross domestic product fell at a 4.8% annualized rate in the January-to-March period after expanding at a 2.1% rate in the final three months of 2019. Weekly Forecast Last week’s price action was all about demand for risk and less about interest rates. This trend is likely to continue this week. The U.S. Dollar started the week on the back foot, reflecting more risk on trading conditions. This week, traders will put more weight on the reopening of the economy along with brewing tensions between the Unites States and China. With states across the U.S. letting nonessential businesses reopen and easing stay-at-home orders in an effort to restart the economy, investors are going to refocus on the number of coronavirus cases to see if the U.S. is doing the right thing, or if they have to go back to even stronger restrictions. “The next 2-4 weeks are critical for both the economic crisis and the health crisis,” said Marc Chaikin, CEO of Chaikin Analytics. “The biggest risk to the stock market is a premature reopening of the U.S. economy. If rising COVID-19 curves reemerge and economies are shut down again the damage to the stock market’s psyche will be dramatic” If fear returns to the markets then look for investors to flock to the U.S. Dollar for protection. This should drive up the USD/JPY. This article was originally posted on FX Empire More From FXEMPIRE: U.S – China tensions, Iran, and April PMIs to Weigh on Riskier Assets Asian Shares Lower as US-China Tensions Weigh on Investor Sentiment New Month, New Trends? U.S. Dollar Index (DX) Futures Technical Analysis – Major Support Zone 99.245 to 98.130 Where are the Next Resistance and Support Levels for Bitcoin? The Crypto Daily – Movers and Shakers -04/05/20 || First Mover: Bitcoin Rally Shows Traders Don’t Care That Goldman Hates Their Asset Class: Cryptocurrency traders don’t seem to care that Goldman Sachs is such a bitcoin hater.
At least, that’s the signal markets are sending.
Bitcoinprices have surged since the Wall Street heavyweight’s money-management division declared in apresentationthis week that the cryptocurrency is “not a suitable investment for our clients,” merely a beneficiary of a “mania” worse than the infamous run on Dutch tulips in the 1600s.
Related:Crypto Long & Short: The Emergence of Prime Brokers Adds Resilience but Also Risk
You’re readingFirst Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money so you don’t have to. You cansubscribe here.
The bullish market reaction shows crypto traders largely shrugged off Goldman’s bearish commentary, doubling down on bitcoin while spewingvile condemnationsand ridicule of the analysis on Twitter.
On Thursday, bitcoin rose more than 2% to about $9,400. The price is now up 33% in 2020, versus a 6.2% decline on the year for the Standard & Poor’s 500 Index of large U.S. stocks. Goldman’s own shares are down 12%.
One cryptocurrency trader even speculated Goldman may have weighed in on bitcoin because the Wall Street firm’s clients were begging to know whether they should jump in – or put another way, if they were at risk of missing out on future rallies.
Related:Blockchain Bites: Magic’s Raise, Compound’s Distribution and Trump’s Twitter War
The global backdrop is that investors are desperately seeking ways to make money these days, with interest rates on U.S. Treasury bonds close to historic lows. Buoyant stock-market valuationsdon’t seem to reflect the economic devastationfrom the coronavirus. (A report Thursday showedmore than 40 million jobless claimshave been filed since early March.)
Bitcoin might be getting a closer look from big money managers and rich families following reports earlier this month that the legendary hedge-fund manager Paul Tudor Jones II is nowbetting on the asset. Investors also might be looking at the year-to-date returns and wondering why Goldman didn’t steer them toward bitcoin sooner.
“Goldman Sachs would not have put together this fancy presentation without demand or questions about crypto from the clients,” said Denis Vinokourov, head of research at the London-based digital-asset firm Bequant.
Patrick Lenihan, a Goldman spokesman, said the presentation “speaks for itself,” declining to comment further.
Invented just 11 years ago, bitcoin has already smeared egg on a lot of prominent naysayers’ faces. Past performance, of course, is no guarantee of future success. But thelist of casualties includes the billionaire investor Warren Buffett, who in February described the cryptocurrency as having “no value,” only to see the shares of his own conglomerate, Berkshire Hathaway, tumble 18% this year as bitcoin rose.
It goes without saying, as Goldman’s investment analysts pointed out, that bitcoin prices can be extremely volatile.
That might just be the nature of new technologies: Volatility isn’t uncommon among many small-cap tech companies whose stocks were taken public by investment bankers working for Goldman and its Wall Street competitors.
Amazon.comshares tumbled 80% amid the dot-com crash of 2000 – long before the internet-commerce giant eclipsed department stores including Sears, whichfiled for bankruptcy in 2018. Another U.S. department store chain,J.C. Penney, filed for bankruptcy protection earlier this month, as sales diminished because of coronavirus-related lockdowns.
But many big, sophisticated investors are comfortable with risk, as long as the potential rewards look attractive enough; long-term growth is the goal.
On that count, bitcoin’s market capitalization has grown 11-fold since the end of 2016 to $173.7 billion. Over the same period, Goldman’s own market cap has fallen to $69 billion from about $95 billion.
Jill Carlson, co-founder of the Open Money Initiative and an investor in early-stage startups with Slow Ventures, wrote Thursday in anop-ed for CoinDeskthat Goldman’s report contained so many flaws that “it’s not worth detailing every misconception or failed bit of logic.” According to her LinkedIn profile, she worked as a credit trader at Goldman in the early 2010s.
That representatives have not adequately articulated the “defining attributes and uses of this paradigm-shifting technology” might be a fault of the crypto industry, Carlson added.
Facebook CEO Mark Zuckerberg, addressing questions about the proposed libra stablecoin at an annual shareholder meeting on Wednesday, noted how slow the traditional financial system had been to upgrade the plumbing behind payments.
The infrastructure around payments “hasn’t been updated in a very long time,” Zuckerberg said.
The broader question might be whether Goldman risks falling behind a fast-evolving digital-asset industry that, by some accounts, aims to disrupt Wall Street and potentially displace it.
Or if the firm’s clients risk missing out on a big rally, with quick-to-pivot Wall Street eventually embracing cryptocurrencies as a promising asset class.
Those clients have certainly missed out on the rally so far this year.
BTC: Price: $9,394 (BPI) | 24-Hr High: $9,621 | 24-Hr Low: $9,008
Trend: While bitcoin has gained over 8% so far this week, it’s still lacking clear directional bias.
Prices are yet to move out of a symmetrical triangle pattern on the daily chart represented by trendlines connecting the May 10 and 25 lows, and May 7 and 18 highs.
A break above the upper end of the contracting triangle, currently at $9,780 would imply a continuation of the rally from the March low of $3,867 and could lead to a convincing move to the February high of $10,500.
On the other hand, a UTC close below the lower end of triangle at $8,782 would confirm a bullish-to-bearish trend change. That could cause more sellers to join the market, leading to a deeper price decline toward $8,000.
Both the falling wedge breakout and invalidation of a lower-highs setup confirmed earlier this week on the four-hour chart indicate scope for a rise to the triangle resistance at $9,780. Further, demand for bearish bets or put optionsis weakening, as evidenced by a recent decline in the one-month put-call skew from 22% to 6%.
On-chain activity suggests the big playersare accumulating. The number of addresses holding at least 100 BTC rose as prices dipped from $10,000 to $8,630 in the seven days to May 25, according to data provided byGlassnode. That may be a sign many investors are long-term bullish.
At press time, bitcoin is trading near $9,400, having risen from $8,800 to $9,620 in the last two days.
• Bitcoin Rally Falters as Stocks Drop Ahead of Trump’s China Speech
• Blockchain Bites: BlockTower’s Returns, Minecraft Goes Blockchain, ID2020 Shakeup
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 9303.63, 9648.72, 9629.66, 9313.61, 9264.81, 9162.92, 9045.39, 9143.58, 9190.85, 9137.99
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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 2015-08-27]
BTC Price: 224.77, BTC RSI: 37.61
Gold Price: 1122.40, Gold RSI: 48.71
Oil Price: 42.56, Oil RSI: 44.64
[Random Sample of News (last 60 days)]
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. || Could this split be the end of bitcoin?: With a market valued currently at more than $3 billion, and hundreds of millions invested in related technologies, a lot is riding on bitcoin (: BTC=) . But the digital token some say could replace government-backed currencies is facing a crisis that experts warn could potentially render it worthless. Over the weekend, two well-known bitcoin developers "forked" the technology, releasing software that will allow the community to split away from the core program. This contentious split arose over a long-running squabble between developers that started as a disagreement about the way data is packaged, and morphed into a philosophical question about the future of the technology. That very future- as CNBC predicted in July -could conceivably be threatened by the new software-called Bitcoin XT. "Contentious hard forks are bad for Bitcoin," the semi-official site Bitcoin.org's David Harding wrote in a policy post . A "hard" fork such as XT is not backwards-compatible with other versions of the software, meaning that any divergence in adoption is more difficult to reconcile. "At the very best, a contentious hard fork will leave people who chose the losing side of the fork feeling disenfranchised. At the very worst, it will make bitcoins permanently lose their value. In between are many possible outcomes, but none of them are good," the post continued. Here's the gist of the squabble: Bitcoin transactions are packaged into blocks before being recorded on bitcoin's permanent ledger. Developers disagree over what the maximum size of those blocks should be. On one hand, smaller means more security, but on the other hand bigger means that bitcoin technology can more easily scale into wider adoption and noncurrency applications. And beyond just the technical matter, the fight comes down to a more human dilemma: Who gets to decide which way the whole community, which is effectively leaderless, has to go? Story continues Mike Hearn, one of the developers behind XT, wrote in a lengthy post explaining the fork that the current limitations of the original software are blocking the growth of bitcoin and its blockchain currency. He disputed Bitcoin.org's assessment of worst-case scenarios, and said that the fork may be the best way to save the currency from becoming irrelevant. Read More The details of the debate can be found here. "There's no reason to believe a hard fork would make bitcoins permanently lose their value. On the contrary, it should increase them, as it'd prove the system is robust against poor decisions by any one group of developers," Hearn said in an email to CNBC. "By asking Bitcoin users to believe that a contentious fork can destroy the system, all they're really saying is that the community must obey the wishes of a tiny group of developers regardless of whether those wishes are bad or not." The way the XT fork works is that miners (who process transactions by solving complex math problems) can vote for whether they want to switch to the new system or stick with the core program. After Jan. 11, 2016, once 75 percent of mining power is voting for the fork, a two-week waiting period begins, and then the new rules take effect. Several polls and projections have indicated that miners may favor the primary XT change-making the maximum size for a "block" of data eight megabytes instead of one megabyte-so a fork could be in the future. Still, several core developers of the technology-who have taken over maintenance and growth of the technology from mysterious creator Satoshi Nakamoto-have come out against the change, and online discussions seem to indicate an ideological split in the community. Those core developers against the block size increase either did not respond to request for comment from CNBC or denied via a representative. But Adam Back, who developed one of the key algorithms behind bitcoin and still works with core developers, said the complaints about XT are manyfold, including worries that a 75 percent activation vote is too low, and that some of the other changes to the program are not sufficiently secure. Back said the community is actively working on finding solutions (with developer workshops scheduled) to the block size problem, and that jumping ahead of the normal review system is "a little puzzling" and "kind of disappointing." One major expert in the community wrote in a Reddit post that XT "represents a somewhat reckless approach, which in the name of advancement shatters existing structures, fragments the community and spins the ecosystem into chaos." Read More Bitcoin firm raises $116M, including Qualcomm investment Hearn, however, told CNBC he thinks that assessment is "completely wrong," and that the XT approach has been debated for month with every objection considered. After all, the development of the potentially world-changing Bitcoin technology has been largely developed without much structure, he said. "You can't shatter something that doesn't exist. Unfortunately a whole lot of people in the bitcoin community who aren't [closely] involved haven't fully realized or accepted how ad-hoc the Bitcoin Core project truly is," Hearn said, adding that "underlying contradictions and inability to make decisions" are actually the major problems that XT seeks to address. Hearn's desire to alter the decision-making process behind bitcoin would see him and XT co-developer Gavin Andresen jointly managing the technology, rather than a group of developers. Back acknowledged that the emergence of XT partially stems from resentment about other developers' ideas being shot down, but he said he believed a distributed power structure works best. "It's intentionally a decentralized process. People are worried that with $4 billion on the line someone could be blackmailed or could intentionally insert a bug," Back said. "They didn't think about the risks of being the sole maintainer of $4 billion of other people's money.... They're not thinking ahead far enough about the implications for all of this." (The total value of all existing Bitcoins was about $4 billion at the beginning of August; it's closer to $3.4 billion now.) As for concerns that his actions could spin the multibillion-dollar ecosystem into chaos, Hearn said he is in fact saving the technology. "[Andresen] and myself have said since the start that Bitcoin is a risky experiment. I'm sure everyone who invested knew that," Hearn wrote. "But if they invested, they presumably invested in the hope that Bitcoin would take off and become really mainstream. Right now, the only way to get there is via Bitcoin XT. So they should consider helping us out to ensure the outcome they would like." Investor Roger Ver- so-called "Bitcoin Jesus" -is one of several prominent voices in the community to voice his approval of the XT project. Roger Ver tweet. Additionally, a statement from all of the Chinese mining pools-which account for much of the power in the network-came out in favor of a block size increase. Still, Hearn could not say how he thought the community would swing, but underscored his contention that a vote for the core software could stymie future growth. "Well, Bitcoin will still exist no matter what happens. But obviously if there's no chance of growth and the community decides to follow the Bitcoin Core developers (without even knowing who exactly is in that group), then a whole lot of other developers and entrepreneurs will leave," Hearn said. "Because you can't build a successful business on an infrastructure with no chances of growth." All of this occurs against a background of increasing corporate and financial interest in bitcoin and its backing blockchain technology. Bitcoin runs on a blockchain that is more secure and decentralized than any of its competitors because of its large user base and its comparatively lengthy history. If those users were to splinter, then the entire enterprise could be compromised. Read More Why is it called the 'blockchain?' Hearn wrote in his explanation of the fork that there are few risks of breaking the community: If less than 75 percent votes for XT, then nothing changes, and if more than 75 percent is in favor, then the rest of the marketplace will follow suit so as not to be left behind. "We don't think the sky will fall if the chain forks. We think people on the small-blocks side of the chain will upgrade and continue on the bigger-blocks side. There will be plenty of time for them to know about the change and prepare," he wrote. Still, if a sizable minority decides to hold out against XT and its bigger blocks, then presplit bitcoins could be spent twice-violating one of the key facets of the digital currency, and potentially harming trust. Back warned that the results of the fork could be disastrous. Anti-XT programs have sprung up to corrupt the vote, so even if it appears that there's been a 75 percent majority, the community could still be split 50-50. "If you get some kind of 50-50 split," Back explained, "you have two ledgers, not accepting each other's blocks ... inconsistent ledgers and exchanges that were out hundreds of thousands, or millions, of dollars." "Nobody wants it to go there, but the Bitcoin XT thing is teetering into a dangerous situation and dynamic," he added. "The safest thing to do is to stop that dynamic well before activation." Jeff Garzik, another bitcoin core developer who has expressed support for bigger blocks, told CNBC in June that creating a contentious fork would be the "worst of all possible options." As Hearn said in his letter to the community: "So this is it. Here we are." More From CNBC Top News and Analysis Latest News Video Personal Finance || 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
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• Greece Is Bad, But China Is Much Worse
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 10 things you need to know today: (REUTERS/Eduardo Munoz)An image of Cecil the lion was projected onto the Empire State Building as part of a projection to raise awareness for endangered animals, in New York on Saturday.
Happy Monday! Here's what you need to know.
The Greek stock market is crashing.The Greek stock market reopened for the first time in five weeks, and it's ugly. The benchmarkASE index plummeted 22.8%before recovering some of its losses. Piraeus Bank and National Bank of Greece crashed the maximum 30% before being halted.
The Greek economy is crashing. Greece's economy screeched as political turmoil took over. The Markit manufacturing purchasing managers' index (PMI) reflected a record contraction,crashing to 30.2 in Julyfrom 46.9 in June. Any reading below 50 signals contraction. "Manufacturing output collapsed in July as the debt crisis came to a head," Markit's Phil Smith said. "Factories faced a record drop in new orders and were often unable to acquire the inputs they needed, particularly from abroad, as bank closures and capital restrictions badly hampered normal business activity. Demand was hit amid the heightened uncertainty surrounding Greece's future, leading both total new business and exports to contract sharply, and it remains to be seen how long it takes these to recover."
The rest of Europe is doing much better. Thecomposite eurozone manufacturing PMI signaled growth, registering at 52.4 in July, which was higher than the earlier estimate of 52.2. Germany, Spain, and Italy all grew. "The eurozone manufacturing economy showed encouraging resilience in the face of the Greek debt crisis in July," Markit's Chris Williamson noted. "The PMI held close to its June level, which had been the highest for over a year, coming in ahead of the earlier flash estimate largely on the back of stronger than previously recorded growth in Germany."
China is definitely slowing.China's official manufacturing PMI fell to 50.0 in Julyfrom 50.2 in June.China's Caixin manufacturing PMI fell to 47.8 in Julyfrom 49.4 in June; this was the weakest reading since July 2013. The numbers werejust as ugly in Taiwan, Indonesia, and South Korea.
Markets are mixed.Europe is mostly up, with Germany's DAX up 0.4%, France's CAC 40 up 0.3%, and Spain's IBEX up 0.3%. In Asia, Japan's Nikkei closed down 0.2%, Hong Kong's Hang Seng closed down 0.9%, and China's Shanghai composite tumbled 1.1%. US futures are down modestly, with Dow futures down 11 points, S&P futures down 2.2 points, and Nasdaq futures down 4.7 points.
Get ready for a ton of data. On Monday, we'll get reports on US personal income and spending (8:30 a.m. ET), manufacturing (9:45 a.m. and 10 a.m.), construction spending (10 a.m.), and auto sales (all day). This, as we kick off jobs week in America. Read our complete preview inBusiness Insider's Monday Scouting Report.
HSBC beats. "HSBC Holdings beat expectations with a 10% rise in first-half profitthanks to a strong performance in Hong Kong and said it had agreed a $5.2 billion sale of its business in Brazil," Reuters reported. "Europe's biggest bank by market value is to sell the unprofitable Brazilian arm to Banco Bradesco SA, Brazil's second-biggest private-sector bank, for a higher than expected 17.6 billion reais ($5.2 billion)."
Puerto Rico will default. "Puerto Rico will miss a payment on debt due Aug. 1, the governor's chief of staff said on Friday, an event that will be considered a default by investors as the commonwealth lurches towards what could be one of the largest US municipal debt restructurings in history," Reuters reported. "The missed payment will mark the first default by the commonwealth and shows the depth of the island's economic and cashflow problems. Puerto Rico Governor Alejandro Garcia Padilla shocked investors in June when he said the island's debt, totaling $72 billion, was unpayable and required restructuring."
Private-equity pioneer Jerome Kohlberg has died. "Jerome Kohlberg Jr., a founder of the investment firm Kohlberg Kravis Roberts & Co.and a pioneer of the leveraged buyout, died on Thursday at his home in Martha's Vineyard, Massachusetts, aged 90," Reuters reported. "Kohlberg's death was confirmed by his former partners at KKR on Saturday. His son, James, said the cause of death was cancer."
Bitcoin-exchange CEO arrested. "Mark Karpeles, the head of the collapsed MtGox Bitcoin exchange who was arrested in Tokyo, is facing fresh allegations that he misused $8.9 million in customers' deposits, Japanese media reported Sunday," AFP said. "French-born Karpeles, 30, was arrested on Saturday after a series of fraud allegations led to the Tokyo-based exchange's spectacular collapse last year and hammered the digital currency's reputation."
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• 10 things you need to know today || Block26 Leads Seed Round in Bitcoin Wallet Platform Airbitz With $450,000 Investment: LOS ANGELES, CA--(Marketwired - July 10, 2015) -Block26, the blockchain venture firm, today announced that it has invested $450,000 in Airbitz Inc., a digital wallet platform. Block26 joins Airbitz Board of Directors while leading a $1,250,000 seed round expected to close later this summer. The $450,000 infusion marks the first investment from Block26, led by Co-Founders Ni'coel Stark and Pedram Hasid, in the hot Bitcoin technology space. Airbitz was awarded first place at the 2015 Inside Bitcoin NYC startup competition and was named one of AlwaysOn OnFinance's 50 Companies to Watch in 2015.
Airbitz's decentralized and open source platform solves many of the current usability, security and privacy issues inherent in the current generation of bitcoin wallets. Airbitz is a remarkably easy-to-use and intelligently designed wallet that allows users to receive, store, or send funds with confidence. The digital wallet software is protected by ironclad and effortless security that prevents any third party from accessing user funds or data, including Airbitz itself, and features the world's first one-touch 2-factor authentication.
Available for iOS and Android, Airbitz automatically encrypts, secures and backs up user data without requiring complicated user prompts, and the decentralized server architecture ensures that Airbitz wallets are functional even if company servers are disabled. Altogether, Airbitz provides the familiar feel and functionality of mobile banking while implementing blockchain operations under the hood, reducing friction and making Bitcoin universally approachable and usable. Block26 understands that this same technology has the potential to disrupt arenas beyond digital currency.
Block26 Co-Founder and Managing Principal Ni'coel Stark said, "Block26 is making its first investment in Airbitz because not only is it the best digital wallet for consumers, it is far more than a wallet. Airbitz technology enables a multifaceted financial tool, an extraordinary implementation on edge security, and a whole new contribution to the Internet of Things. Block26 is excited to empower Airbitz solutions in revolutionizing transaction, authentication and security processes."
Airbitz is led by CEO and Co-Founder Paul Puey, a former Nvidia senior engineer and a prominent leader of Bitcoin advocacy in Southern California. The Airbitz leadership team includes CTO and Co-Founder Tim Horton, the former CTO of startup Breadcrumbs Inc.,; VP Design and Co-Founder Damian Cutillo, formerly Co-Founder at Breadcrumbs Inc.; Chief Architect and Co-Founder William Swanson, the core developer of Libbitcoin; and COO Rick "Henri" Chan, Co-Founder of AlphaPoint with 15 years experience at finance and technology firms including Robertson Stephens, Deutsche Bank and UBS Financial Services.
Airbitz CEO and Co-Founder Paul Puey said, "Airbitz is tremendously honored to have Block26 as our partner and lead investor. Their core focus on bitcoin, blockchain, and decentralized technologies is perfectly inline with the DNA of Airbitz founders. Block26 brings incredible experience in building highly tuned team dynamics and they see the value in people, companies, and industries that aren't afraid to disrupt the status quo. We look forward to building a decentralized world with their passion and support at our side."
Airbitz COO Rick "Henri" Chan added, "Block26 is more than an investor to Airbitz; they are an integral partner in our rapid development. We look forward to closely working with Block26 as partners in building a company that thrives as it grows. Block26's unique financial model allows for a flexible investment strategy that could provide Airbitz and other portfolio companies with early stage capital, with the capacity to provide bridge funding as well. For these reasons and many more, we greatly look forward to Block26 joining our Board."
For more information, visit Airbitz atwww.airbitz.coor Block26 atwww.block26.com. || BTCS Completes Name Change and Launches New Website: ARLINGTON, VA--(Marketwired - Jul 28, 2015) - BTCS Inc. ( OTCQB : BTCS ) ("BTCS" or the "Company"), formerly known as Bitcoin Shop, Inc., a blockchain technology focused company which secures the blockchain through its transaction verification services business, recently filed to change its name. The name change should be reflected in the coming weeks once it is processed by FINRA. "While our Company was initially focused solely on the digital currency space, we have since evolved our operations to position ourselves to be a leader in the much larger blockchain technology arena," stated Charles Allen, Chief Executive Officer of BTCS. "This refined strategic focus represents an exciting market opportunity, and changing our name to reflect this broader focus was an important step in our evolution." As Jemima Kelly of Reuters recently reported, "The data that can be secured by the blockchain is not restricted to bitcoin transactions. Any two parties could use it to exchange other information, including stock deals, legal contracts and property records, within minutes and with no need for a third party to verify it. Backers say it could cut out the middleman and help fight corruption, as the process by which the data is secured makes it virtually impossible to tamper with." The Company also unveiled its new corporate website ( www.btcs.com ) on Tuesday. The new site includes additionalinformation about the importance of blockchain technology and its disruptive application across a diverse array of industries. About BTCS: The blockchain is a decentralized public ledger and has the ability to fundamentally impact, on a global basis, all industries that rely on or utilize record keeping and require trust. BTCS secures the blockchain through its rapidly growing transaction verification services business and plans to build a broader ecosystem to capitalize on opportunities in this fast growing industry. BTCS continues to evaluate and build additional blockchain technology consumer solutions. BTCS also actively partners and integrates with strategic digital currency and blockchain technology companies who provide products or services that are complementary to its business strategy. For more information visit: www.btcs.com Forward-Looking Statements: Certain statements in this press release, including those related to an anticipated merger, constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its digital currency business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. || Bitcoin Payments Decline Significantly At Expedia: Expedia Inc(NASDAQ:EXPE) introduced bitcoin as a payment option about a year ago. The company hoped to reach new users and meet the growing demand for digital payments by adding a bitcoin option.
However over the past 12 months, the travel website said it has seen a significant decline in the number of payments made using bitcoin, something which could be attributed to the cryptocurrency's marked decline.
Loss Of Value
Expedia's Senior Payments Product Manger Connie Chung toldCoinDeskthat bitcoin purchases on the site have declined by 40 percent over the past year. Chung said that drop makes sense when you look at how much value bitcoin has lost over the past 12 months. When bitcoin was added to Expedia's service in June last year, it was worth more than $600. Now, the currency is trading at just over $270 following a price rally earlier in the month.
Related Link:Venture Capitalists Pouring Money Into Bitcoin
Bitcoin To Stay Put
While the decline in bitcoin payments suggests that consumers aren't as willing to use the cryptocurrency as merchants had predicted, Chung said Expedia plans to continue offering bitcoin as a payment choice for as long as there is some demand for it. She said the company's decision to incorporate bitcoin had little to do with the firm's stance on digital currencies and that it has simply been a way to meet customer needs.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Glitch Costs Miners Thousands: This weekend, bitcoin miners suffered a setback after it wasrevealedthat those running some software clients which were out of date were creating invalid blocks, or transaction records.
The glitch gave miners the impression that they had earned bitcoins for adding to blockchain, when in actuality, the invalid blocks weren't accepted.
Warning
Bitcoin.org issued awarningregarding the invalid blocks over the weekend. The notice said that an initial invalid block has been built upon by other miners, who don't fully validate their blocks. The practice, called Simple Payment Verification (SPV) mining, has caused several large mining operations to loose more than $50,000 dollars in mining income so far due to the glitch.
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To combat the problem, Bitcoin.org recommended that all miners update to the latest software to ensure that the invalid blocks are detected. The site also encouraged those using Web-based wallets to make sure they are using the most up-to-date version as well.
How Did It Happen
SPV mining means that the verification of new blocks relies on a connection to a trusted node. However, since the software was unable to detect invalid blocks, it allowed miners to continue building strings of blocks on top of an invalid one, rendering all of them worthless.
Effects?
While the effects of this glitch appear to be concentrated on mining firms, some worry that it could refuel worries about bitcoin's safety and security. The cryptocurrency already has a reputation for being unreliable and many fear that this incident will contribute to that stigma.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Pot-Friendly Candidates Emerge In 2016 Election: Marijuana will play an unprecedented role in the 2016 Presidential race as the drug has never before been regarded by the public in such a favorable light.
In previous elections, marijuana was used as a weapon and candidate after candidate denied using, or liking the drug at all. However, this year pot is expected to come up several times on the campaign train, but as an issue rather than a shameful allegation.
A Big Issue?
It remains to be seen just how important a candidate's stance on marijuana legalization will be when it comes to the election. Most candidates have been vague about their views on the drug, saying that the Obama administration's decision to let states decide for themselves whether or not marijuana should be legalized has provided a good framework to see just how a legal marijuana market will affect the United States.
Related Link:How Every Presidential Candidate Wants To Change The Economy
Pot Friendly
Candidates Ted Cruz and Rand Paul havevoiced their supportfor the marijuana market, saying that it should be each state's right to determine the laws governing marijuana. Paul also became the first candidate toturn to marijuana industry groupsfor campaign support. Others, like Chris Christie claim they will take a hardline against marijuana and reverse states' decisions to legalize the drug.
Unknown
Others, like Hillary Clinton, have taken a wishy-washy view— saying that they'd like to see how things go in Colorado and Oregon before making a firm decision or avoiding the issue all together. However, this week, Bernie Sanders appeared to be planning to take a stand on marijuana and many speculate that stand will be pro-legalization. On Tuesday, Sanders spoke out against the war on drugs and promised voters that his campaign would release his marijuana platform in a month.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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)]
On Cycle with #cyclemeter, on BTC Road Bike route, time 1:26:01, distance 20.00 miles, speed 13.49, average 13.95, ahead of best ride 1:45. || #RDD / #BTC on the exchanges:
Cryptsy: Error
Bittrex: 0.00000006
Average $1.6E-5 per #reddcoin
03:00:01 || buysellbitco.in #bitcoin price in INR, Buy : 17514.00 INR Sell : 16958.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || Current price: 239.32€ $BTCEUR $btc #bitcoin 2015-07-07 16:00:03 CEST || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000006
Bittrex: 0.00000006
Average $1.7E-5 per #reddcoin
20:00:02 || bitcoin rate-2015-07-22 PDT start_rate:$278.00 current_rate:$279.50(0.54%) #btc_q @MoneysEdge http://www.moneysedge.com/bitcoin || In the last 10 mins, there were arb opps spanning 22 exchange pair(s), yielding profits ranging between $0.00 and $723.51 #bitcoin #btc || buysellbitco.in #bitcoin price in INR, Buy : 17040.00 INR Sell : 16513.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || BTC-E LAST 264.00$ AVERAGE 264.70$ at 18:03 UTC #Bitcoin #BTCUSD || buysellbitco.in #bitcoin price in INR, Buy : 17708.00 INR Sell : 17161.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin
|
Trend: up || Prices: 231.40, 229.78, 228.76, 230.06, 228.12, 229.28, 227.18, 230.30, 235.02, 239.84
|
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]
Not fully available.
[Random Sample of News (last 60 days)]
Dollar steady as strong U.S. data supports; tax bill progress eyed: By Saqib Iqbal Ahmed NEW YORK (Reuters) - The dollar was steady against a basket of currencies on Wednesday, supported by strong U.S. third-quarter economic growth data, but uncertainty surrounding lawmakers’ efforts to pass a tax bill kept dollar bulls in check. The dollar index <.DXY>, which measures the greenback against six rival currencies, was at 93.231, little changed on the day. Congressional Republicans scrambled on Wednesday to reformulate their tax-cut bill to satisfy lawmakers worried about how much it would expand the federal deficit, as the measure moved toward a U.S. Senate floor vote later this week. The U.S. Senate will vote later Wednesday on whether to begin debate on a Republican tax bill, Senate Majority Leader Mitch McConnell told the chamber. "There is a lot on the Trump administration's plate in December and their track record is not the best," said Alfonso Esparza, senior currency analyst at OANDA in Toronto. "Until something is delivered the market is a bit hesitant." The dollar index, which slipped nearly 1 percent last week, is up 0.5 percent so far this week. "It's a little bit of an unwind of what we saw last week," said Brad Bechtel, managing director FX at Jefferies in New York. The greenback has drawn support from strong data and remarks on Tuesday by Federal Reserve chair nominee Jerome Powell signaling that the central bank is likely to raise interest rates again next month, Bechtel said. Data on Wednesday showed the U.S. economy grew faster than initially thought in the third quarter, notching its quickest pace in three years, as increases in business investment in inventories and equipment offset a moderation in consumer spending. Against the yen the dollar was 0.36 percent higher, as U.S. Treasury yields climbed after the upbeat GDP data. Bitcoin was the most eye-catching mover, and zoomed past $11,000 to hit a record high of $11,395 before pulling back to trade at $9,919.58, little changed on the day. Sterling rose to a two-month high after European Union diplomats said that Britain has moved "close" to EU demands over Brexit, although concerns that differences remain on key conditions capped the currency's gains on Wednesday. Sterling was 0.59 percent higher at $1.3415. The Canadian dollar weakened to a nearly four-week low against its U.S. counterpart as oil prices fell. (Reporting by Saqib Iqbal Ahmed; Editing by Frances Kerry and Lisa Shumaker) || Bitcoin and Ethereum Price Forecast – Prices Set Up for Major BreakThrough: The bitcoin prices continue to trade in a strong manner but as the prices get closer closer to the important and psychological mark of $10,000, we might see some of the traders and investors get jittery and try and take some profits. So, we might see some profit taking in this region which could slow down the move towards the $10,000 mark or we could see some large profit taking after that mark is breached which could lead to a correction in the prices. We will have to wait and see how long it is going to take for the bulls to overcome this sceptism and push the prices towards the coveted $10,000 mark. We had expected the prices to move towards this region towards the end of the year but it looks as though the new year might arrive a month early for the bitcoin market.
Get Into Bitcoin Trading Today
This price rise has been driven a lot by speculation and also due to the increasing adoption of blockchain and bitcoin by various industries. The central banks in many parts of the world continue to be reluctant to face the reality of the cryptocurrencies and continue to be in a denial mode which is both good and bad in a way, for the industry. But ultimately, there will come a time when the banks cannot ignore the presence of this alternate industry and during that time, we might see some regulations come into the market which will only help the market to become even more mature.
The Ethereum market also seems to be baulking as it gets closer to the $500 region and this is likely to continue for the short term. Like the BTC, the $500 mark is just another psychological mark for the growing ETH industry and we believe that it is only a matter of time before this mark is breached. We are as bullish in ETH as in BTC, if not more.
How Blockchain will change our Life, Economy and the World
Looking ahead to the rest of the day, the focus will be on whether the BTC and ETH prices can move towards $10,000 and $500 respectively and if and when they do so, we will have to see what kind of a reaction that we see from the markets for such a move.
The Best and Safest Way to Buy and Sell Bitcoins
For those who are looking to take advantage of Bitcoin and other cryptocurrencies price fluctuations,some brokersprovide traders with instant access to trade Bitcoin, Bitcoin Cash, Ethereum and other cryptocurrencies. The process is fast and easy with convenient and advanced trading platform (desktop and mobile), low spreads and instant execution.Click here for more details.
Thisarticlewas originally posted on FX Empire
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• FTSE 100 Index Price Forecast November 28, 2017, Technical Analysis || One of Wall Street's biggest bears just doubled his bitcoin forecast to $11,500: Bloomberg TV
• Tom Lee of Fundstrat has nearly doubled his forecast for bitcoin, calling for the cryptocurrency to hit $11,500 by mid-2018.
• Lee says that a recent dip in bitcoin's price wiped out weak, low-conviction holdings, clearing the path for further gains.
Well that sure escalated quickly.
Tom Lee,the managing partner and head of research atFundstrat Global Advisors, has almost doubled his forecast forbitcoin. He now expects the scorching-hot cryptocurrency to hit $11,500 by mid-2018, up from his previous estimate of $6,000 released in August.
The adjustment comes just a few weeks after Lee turned neutral on bitcoin, when it was hovering around the $7,400 level. At the time, he felt that there were simply too many "weak hands" holding the cryptocurrency with low conviction, leaving it susceptible to a sharp drop at the first sign of turbulence. In his mind, the appropriate level to start loading up on more bitcoin was around $5,500.
And sure enough, bitcoin fell last week to $5,600, which Lee says wiped out those fickle holdings and allowed him to resume his bullish view.
"This move to $5,600 cleaned up weak hands and we no longer feel caution is warranted," Lee wrote in a note to clients on Wednesday.
Further, two variables thatexplain 94% of bitcoin's historical moves— according to a statistical model developed by Lee — have rebounded, further fueling his optimism. Those variables are unique bitcoin network addresses and transaction volume per user, which, when regressed against the price of bitcoin, can provide signals suggesting possibilities for the future direction of the cryptocurrency.
Fundstrat
Lee is also optimistic about thecoming launch of bitcoin futures, which many think will increase the cryptocurrency's legitimacy, thereby expanding its potential user base. Bitcoin hit a new record on the news. Lee does warn, however, that the use of futures could further concentrate mining power.
Looking beyond bitcoin, Lee is one of the most bearish analysts on Wall Street when it comes to the stock market. He sees the benchmarkS&P 500ending 2017 at 2,475, which puts him in the bottom quartile of strategists surveyed by Bloomberg. The average price target is 2,524.
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SEE ALSO:GOLDMAN SACHS: Here's how to make a killing in the market this Black Friday || Dollar, stock futures gain on U.S. tax cut progress: By Swati Pandey SYDNEY (Reuters) - The U.S. dollar bounced to a two-week top on Monday as traders celebrated the passage of a Senate tax bill over the weekend, while stronger U.S. stock futures pointed to a merry start for Asian shares. The greenback jumped 0.7 percent (JPY=) in early Asian trade to as far as 112.98 yen, the highest since Nov. 17. It climbed 0.5 percent last week, a welcome reprieve to bulls after three straight sessions of losses. The U.S. Senate approved a tax overhaul on Saturday, moving Republicans and President Donald Trump a big step closer to their goal of slashing taxes for businesses and the rich. The move is likely to further boost corporate profits and lead to a slew of share buy-backs. U.S. stock markets have already rallied for months on hopes that Washington would provide significant tax cuts for corporations. Indeed, EMini S&P stock futures (ESc1) jumped 0.7 percent at the open on Monday, while Nikkei futures (NKc1) climbed more than 1 percent. "The chances of tax cuts being placed onto Trump's desk to sign through have increased markedly and we start this week with the process of reconciliation between both the House and Senate tax plan," said Chris Weston, Melbourne-based chief market strategist at IG. "One questions what could really derail sentiment as we head into the final month, and one that is traditionally a great breeding ground for equity appreciation." As risk-on trade gathers momentum, U.S. Treasury futures fell sharply, with the March contract slipping 14 ticks. (TYc1) Fed fund futures dipped as the market priced in the risk of faster rate hikes from the Federal Reserve, given fiscal policy was set to be eased even while the economy was running at or near full employment. The early shift reversed moves on Friday when stocks and the dollar slipped and bonds gained amid worries about a probe into Russia's involvement in the U.S. election. Stocks tanked mid-session after an ABC News report that former national adviser Michael Flynn was prepared to testify that Donald Trump instructed him to make contact with Russians during the presidential campaign. Story continues The report was soon retracted with the ABC News clarifying that Trump's directive was issued after he was elected president, not before. Elsewhere, traders will focus attention on a meeting scheduled for British Prime Minister Theresa May and EU President Jean-Claude Juncker as they on a Brexit deal. The euro (EUR=) slipped 0.2 percent, while the British pound (GBP=) edged 0.1 percent higher on media reports that a deal was near on the terms of the Brexit divorce. Bitcoin (BTC=BTSP) jumped to an all-time high of $11,800 after the U.S. derivatives regulator allowed CME Group (CME.O) and CBOE Global Markets (CBOE.O) to list bitcoin futures. The cryptocurrency was last up 2.8 percent at $11,180 on the Luxembourg-based Bitstamp exchange. In commodities, oil was down a touch with Brent crude (LCOc1) off 5 cents at $63.68 a barrel. Spot gold (XAU=) eased 0.5 percent to 1,273.67. (Reporting by Swati Pandey; Editing by Eric Meijer) || Amazon.com, Inc., Apple Inc. and Nintendo Co. Ride Huge Cyber Monday Growth: The early predictions for Cyber Monday were off the charts. Now the official numbers are in, and they confirm that this year’s Cyber Monday sales blew past last year’s record.
Source: Apple
The data also show some clear trends and surprise winners. While it’s taken a slight dip,Amazon.com, Inc.(NASDAQ:AMZN) remains just short of record highs it set on Monday, reflecting the fact that Amazon was one of the companies that did very, very well.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Here are some of the other trends and winners that became clear after Adobe Insights published its official 2017 Cyber Mondaysales data report.
As predicted, Adobe says the final tally for online shopping in the U.S. hit $6.59 billion on Cyber Monday. That is a new record, and a 16.8% increase over last year’s numbers.
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The long weekend tally also confirms Cyber Monday sales make it the biggest online shopping day in the U.S., eclipsing both Black Friday ($5.03 billion) and Thanksgiving ($2.37 billion).
Cyber Monday showed just how important smartphones and tablets have become for web access. According to Adobe Insights’ numbers, mobile traffic accounted for 47.4% of online retailer site visits. Cyber Monday sales revenue from smartphones alone was pegged at $1.59 billion, 39.2% higher than last year. Millennials are helping drive this trend, with an estimated 75% doing their shopping via smartphone.
The Adobe Insights data reveal that advertising still pays off for online retailers. And search is still a big thing: 41.7% of Cyber Monday sales began with a search, with paid search results accounting for 22.9% of online shopping sales for the day, up 8.3% compared to 2016. These results should makeAlphabet Inc(NASDAQ:GOOGL) — which still makes the vast majority of its revenue from ad sales — very happy.
A few weeks ago,Apple Inc.(NASDAQ:AAPL)announced it was delaying the releaseof its new Siri-powered HomePod smart speaker from Dec. 1 to 2018. That gave Amazon an entire additional holiday shopping season to build up its smart speaker lead. Amazon put out apress releaseyesterday that helped propel AMZN stock to that new record high.
Among the details announced were “millions of Alexa devices sold” with the Echo Dot (and Fire TV Stick) being the top-selling products across the entire site. In addition, the video screen and camera-equippedEcho Spot smart speakersold out after Cyber Monday sales.
In other words, Apple’s job to get the HomePod smart speaker into homes just got a lot more difficult.
On the plus side for Apple, though, Adobe Insights listed its AirPods wireless earbuds as one of the top-selling devices on Cyber Monday. Apple iPhones also notched a higher average transaction value than smartphones running Android: $123 to $110.
Game consoles, in general, did well in Cyber Monday sales, butNintendo Co., Ltd (ADR)(OTCMKTS:NTDOY) should be especially happy.
Despite the fact that Nintendo Switch discounts were virtually nonexistent — most retailers’ promotions centered around having the Switchin stock— the Switch was spiked out as a Cyber Monday top-seller.
Overall, the three key days of the Thanksgiving holiday online sales shattered records with double-digit growth. While Cyber Monday sales stand out as the largest online total for a single day in the U.S., Adobe Insights says the holiday shopping season to date has generated $50 billion in online revenue (up 16.8% compared to 2016).
• The Bitcoin Bubble: It’s Not Different This Time
The firm predicts that by the time the 2017 holiday shopping season wraps up, consumers will have spent over $100 billion with online retailers. More good news for Jeff Bezos & Co.
As of this writing, Brad Moon did not hold a position in any of the aforementioned securities.
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The postAmazon.com, Inc., Apple Inc. and Nintendo Co. Ride Huge Cyber Monday Growthappeared first onInvestorPlace. || Blue Apron Layoffs: 300+ Employees Get Chopped: Blue Apron Holdings Inc (NYSE: APRN ) announced that it would be cutting down its workforce by 6%. Blue Apron The food delivery service has about 5,000 workers, so a 6% cut would amount to roughly 300 workers . The move is a shock from Blue Apron, which went public a few months ago, in June. The IPO performed poorly following Amazon.com, Inc’s (NASDAQ: AMZN ) decision to acquire Whole Foods around the same time and launching a meal-delivery service through Whole Foods, which took a bite out of Blue Apron’s business. InvestorPlace - Stock Market News, Stock Advice & Trading Tips The company’s workforce reduction filing also mentioned that it plants to incur about $3.5 million in expenses in its fiscal fourth quarter. Blue Apron CEO Matt Salzberg spoke of the matter, noting that a company-wide realignment is a painful one and it was a hard decision for the Board. The company hopes to move forward by bringing in more growth and achieving profitability. “The actions that we took today flowed from the roadmapping and reprioritization exercise that we recently undertook,” Salzberg said. “As part of that work, we identified the need to reduce some roles, open others, and streamline decision making for greater accountability. Wherever possible, we sought to fill new roles with existing employees,” he added. Salzberg also mentioned that many of the workers Blue Apron parted with are talented and important individuals who simply had to be let go to cut down on costs. APRN shares fell 1.6% Thursday. More From InvestorPlace 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits 7 Stocks to Buy Before the Holidays Kroger Co Stock Has Way More Upside Than You Think The post Blue Apron Layoffs: 300+ Employees Get Chopped appeared first on InvestorPlace . || Bitcoin engineer Jameson Lopp SWATted by angry crypto fans: An engineer for BitGo , Jameson Lopp, faced down a horde of police officers with rifles at his home in Durham, North Carolina after someone sent an anonymous tip regarding a hostage situation at his home. The engineer has been vocal on Twitter about upcoming changes in the protocol. "They shut down most of my neighborhood," he said. "There were dozens of patrol units, a SWAT team, mobile command post, a fire truck, and paramedics," he said. "It was a huge waste of public resources." Lopp has been vocal in the hard fork debate and has worked at BitGo for almost three years and a Bitcoin enthusiast for five years. The 911 caller who forced the police to act told a dispatcher that he was holding is family hostage and gave Lopp's address . I asked him what he had been talking about recently and he felt most of his online comments were innocuous. He has, however, made online enemies thanks to his views. "Same old same old: Bitcoin philosophy and scaling debate arguments. A few of the more extreme cases think I'm some kind of manipulative monster," said Lopp. "The attacker never made any references to my public debates, so it's not a certainty that they were motivated by them. They may simply want to extort me, similar to what has happened to several other prominent Bitcoin folks." Lopp has appeared on many TechCrunch podcasts about Bitcoin including a new one we may launch this year. "The asymmetry here is disturbing," he said. "A single phone call can eat up tens if not hundreds of thousands of dollars in public resources just to determine whether or not a threat is real." [Image Source: Vesnaandjic/Getty Images] || Stock market preview, December 4: After an extremely busy week which saw markets take big swings both up and down, the final jobs report released in 2017 will greet investors as the biggest economic story in the week ahead. The November jobs report is due out Friday and is expected to show the second-to-last month of the year enjoyed strong payroll growth with economists forecasting nonfarm payrolls grew by 200,000 in November. The unemployment rate is also forecast to hold steady at 4.1%, a 17-year low . Elsewhere on the economic schedule, investors will get readings on the services sector and consumer sentiment. On the earnings side, things will be a bit slower with results expected from AutoZone ( AZO ), H&R Block ( HRB ), Dollar General ( DG ), and Broadcom ( BRCM ). In Washington, D.C., investors will monitor progress on tax reform after the Senate in the overnight hours on Saturday passed its version of a tax bill. The Senate and the House will now work to reconcile their bills to present a unified plan to President Donald Trump to be signed into law. Markets will also keep an eye on any new developments in the Mueller probe into Russian interference in the U.S. election after President Donald Trumps former national security advisor Michael Flynn plead guilty on Friday to lying to the FBI about his contact with Russian officials. Donald Trump (L) with his former national security advisor Michael Flynn. This news initially roiled markets , sending the Dow down by as many as 400 points on Friday, though the major averages recovered through the day and closed the week mixed as the tech-heavy Nasdaq lost ground while the Dow and S&P 500 both logged gains. Economic calendar Monday: Factory Orders, October (-0.4% expected; +1.4% previously); Durable goods orders, October (-1% expected; -1.2% previously) Tuesday: Trade balance, October (-$47.4 billion expected; -$43.5 previously); Markit U.S. services PMI, November (55.3 expected; 54.7 previously); ISM non-manufacturing PMI, November (59 expected; 60.1 previously) Wednesday: ADP private payrolls, November (+190,000 expected; +235,000 previously); Nonfarm productivity, third quarter (+3.3% expected; 3% previously) Thursday: Initial jobless claims (240,000 expected; 238,000 previously); Consumer credit balances, October (+16.35 billion expected; +$20.83 billion previously) Friday: Nonfarm payrolls, November (+200,000 expected; +261,000 previously); Unemployment rate (4.1% expected; 4.1% previously); Average hourly earnings, month-on-month (+0.3% expected; +0% previously); Average hourly earnings, year-on-year (+2.7% expected; +2.4% previously); Wholesale inventories, October (+0.2% expected; -0.4% previously); University of Michigan consumer sentiment, December (99 expected; 98.5 previously) Story continues Do corporate tax cuts work? Early Saturday, Senate Republicans passed their version of a bill to cut taxes which paves the way for President Donald Trump to sign one of his primary campaign promises into law in the coming weeks. Senate and House Republicans will now come together to reconcile the differences between their bills to find a unified path for lower corporate taxes to bring to Trumps desk. And while supporters of the bill may list a litany of reasons for why this move was needed, or why this move will be good for the economy, the Trump administration has long maintained that economic growth would be the main result of cutting taxes. And this economic growth the thinking went, would be the direct result of corporations increasing investment due to lower tax burdens. Donald Trump will be happy to speak to his supporters after the Senates move to cut taxes. Kevin Hassett, the chair of Trumps council of economic advisors, has said that American families would see $4,000 in additional wages over the next decade as a result of increased investment from corporations benefitting from lower taxes. But Joe LaVorgna, chief economist for the Americas at Nataxis, outlined in a note circulated Friday that the last several decades of evidence lends little to the idea that lower taxes boost investment in a meaningful way. LaVorgna writes that gross business investment as a share of GDP since 1960, averaging 13% over time with a standard deviation of 1.3%, meaning that there have been few major changes in the investment tendencies of American businesses. In 1986, when the Reagan administration passed its tax cut which Trump has so often said he would seek to outdo the corporate rate fell from 40% to 34%. This lower rate, however, did not shift the investment habits of corporations. In fact, investment has fallen in the roughly thirty years since this cut passed relative to the 26 years tracked by LaVorgna before this cut, though corporate taxes have been lower during that period. From 1960 to 1986, the corporate tax rate averaged 48%, and the gross investment share of GDP averaged 13.3%, LaVorgna writes. From 1987 to present, the corporate tax rate has averaged about 35%, and the gross investment share of GDP averaged 12.7%. Even if we take out 2009, when the share plunged to a record low of 9.8%, the average increases just a tenth to 12.8%. Clearly there is no correlation between the tax rate and the share of business investment in the economy. Lower corporate taxes have shown little tendency to increase corporate investment over the last sixty years. (Source: Nataxis) Skepticism towards the positive impacts that lower corporate tax rates would have across markets and the economy, however, is nothing new. Back in February we were writing about work that showed corporate profitability seen by many as the obvious beneficiary of a lower tax burden has had little correlation with the overall corporate tax rate. Now, corporate commentary during third quarter earnings season indicated there was some optimism around tax cuts passing, but few specifics were given on what companies would do if they were to see a lower U.S. corporate tax rate in the coming years. Goldman Sachs CFO Marty Chavez said on the banks earnings call that companies looking to make deals werent working around the uncertain prospects for a new tax code. But perhaps the clearest explanation of what the tax code can and cannot do for the economy came from NYU finance professor Aswath Damodaran, who told Yahoo Finance in January 2017 that the, The tax code is a bludgeon. When you change the tax code trying to make companies do the right thing, you almost always have a law of unintended consequences. Damodaran added that, tax codes have never been effective behavior modifiers. The promise of investment against the reality of investment in a lower-tax environment has so far borne that out. Myles Udland is a writer at Yahoo Finance. Follow him on Twitter @MylesUdland Read more from Myles here: Walmarts strong quarter shows why Amazon had to buy Whole Foods Foreign investors might be the key to forecasting a U.S. recession Its been 17 years since U.S. consumers felt this good about the economy TOM LEE: Bitcoin is an important asset for investors to own || A Recipe for Success — CEO Daily, Monday 27th November: Good morning,
Time Inc. is in the news this morning, having sealed a deal last night to sell itself to Meredith. Time publishesPeople,Time,Fortune,Sports Illustrated, Southern Living, Real Simple, Cooking Light, InStyle, Travel + Leisure,and more; Meredith publishesBetter Homes and Garden, Family Circle,Martha Stewart Living, andAllrecipes,among others. Time is based in New York, and caters to somewhat more affluent audiences; Meredith is based in Des Moines and specializes in reaching Middle American women.
Early reports made much—probably too much—of the involvement of the Koch brothers private equity fund in financing the deal. The announcement yesterday made clear that the Kochs will be passive investors, and will not have a say in the management of the combined company or have a seat on the combined company’s board.
The merger reflects tough times in the media business, taking a toll on both companies, but particularly on Time Inc. The merger will allow for sizable cost saving synergies between the two. It also reflects the need for scale in digital media, where publishers have had to fight the giants—FacebookandGoogle—for advertising dollars.
The deal is expected to close in the first quarter. Meredith hasn’t said what it plans to do with all of Time Inc.’s publications, but we are assuming the new owners will be quick to recognize the unmatched value ofCEO Daily.
More news below, including one about a match which may garner even more attention than that of Meredith and Time.
•Soldier to Marry Actress
His Royal Highness Price Harry of Wales is to marry Ms. Meghan Markle of Los Angeles sometime in the spring of 2018. Markle is the first American, the first actress and the first person of color to marry into the U.K. royal family but not, despite the breathless exuberance of some correspondents, the first divorcee (Eleanor of Aquitaine, the wife of Henry II, takes that honor). In contrast to Wallis Simpson, she’ll also get the title Her Royal Highness and have Duchess of Sussex thrown in for good luck. The British appear to be taking it well enough, their chief question, as per Google, being “Will we get the day off work?”People
•Black Friday Records Fall, At Least Online
Black Friday appears to have broken previous records for sales volumes, although you can pick and choose whose data you want to believe as regards the margin. Salesforce’s retail intelligence said online sales volumes grew 24% from last year, while Adobe put it at 18% for a two-day period also including Thanksgiving. Visits to brick and mortar stores fell 1.6% for those two days, according to Shoppertrak. More records are expected to fall today, Cyber Monday.Fortune
•CFPB Tussle Winds up in Court
Leandra English, who was deputy to Richard Cordray at the Consumer Financial Protection Bureau, has sued to stop President Donald Trump installing White House budget director Mick Mulvaney as acting chief. Trump had appointed Mulvaney after Cordray accelerated his departure from the bureau and tried to name English as his acting successor. Trump has vowed a thorough makeover of an agency that he sees as a needless constraint on the financial sector, but which Democrats see as a bulwark for ordinary people against abusive banking practices.Fortune
•2018 Could Be Another Good Year for the Shale Patch
OPEC and Russia are reportedly close to agreeing another extension to the deal under which nearly 2 million barrels a day of oil output are held back from world markets. Crude futures hit a two-and-a-half year high over the weekend on the prospect. OPEC is due to meet with Russia and other major oil exporters later this week to cement the agreement. The biggest risk to an extension deal appears to be the fear that higher prices will simply cede more market share to U.S. shale producers. Elsewhere, OPEC member Venezuela put its generals in charge of the state oil company PdVSA.FT, metered access
•Exit Baer CEO…Pursued by Clients?
Drama in the staid world of Swiss private banking: Boris Collardi resigned suddenly as CEO of Julius Baer Group to take a partnership at rival Pictet Group, causing Baer shares to fall 5% in early trading. Collardi turned Baer into the world’s largest listed standalone wealth management group. He’ll be succeeded by deputy CEO Bernhard Hodler.Bloomberg
•Merkel Fails Where Markle Succeeds
Angela Merkel’s Christian Democrats made overtures to the center-left Social Democratic Party to renew their “Grand Coalition,” after talks to build a three-party government with the Greens and pro-business FDP collapsed. The SPD is likely to demand the Finance Ministry and correspondingly greater clout over fiscal and economic policy than it had in the last four years, which would suggest slower tax cuts, a more hawkish policy towards Silicon Valley, and a more sympathetic ear to Emmanuel Macron’s proposals for a greater pooling of Eurozone debt and spending. However, talks aren’t likely to start till the new year, according to senior members of both parties.Der Spiegel
•China Crackdown Hits Stocks, Boosts Bitcoin
World stock markets face an awkward tension in the coming week, caught between record retail numbers that suggest the U.S. economy is in fine fettle and a surprisingly sharp crackdown on the ‘shadow banking’ sector in China that has tightened financial conditions. Asian stocks retreated sharply overnight from Friday’s highs, but the S&P 500 future is inching higher in European trading. Unsurprisingly, the Chinese crackdown is being accompanied byanother surge in Bitcoin, which looks like notching its latest $1,000 increment in record time.WSJ, subscription required
•Trouble in Paradise
Indonesia shut the airport on Bali and ordered an evacuation of residents as the Mount Agung volcano prepared to erupt. Ash clouds have already made flights into and out of the island impossible and the Disaster Mitigation Agency says lava will certainly spill over the caldera in due course. Some 59,000 tourists are reportedly trapped on the island, of which at least a quarter are Chinese.Fortune
Summaries by Geoffrey Smith; [email protected]
@geoffreytsmith || Meet Bitcoin Gold, Yet Another New Kind of Bitcoin: After bitcoin endured a split back in August,creating the new Bitcoin Cash cryptocurrency, it happened again on Tuesday. This time, the aim was to create a new coin calledBitcoin Gold.
As before, the split—known as a “fork” in the industry—has led to two currencies (the other being the classic bitcoin, or BTC), each having the same transaction history up untilthe point of separation, where they went their own ways. And as before, anyone holding bitcoin at the time of the split should get the equivalent in Bitcoin Gold, for free.
As usual, the split comes with a degree of rancor. Soon after the Bitcoin Gold fork occurred, its websitecame under a distributed denial-of-service attack
The creation of Bitcoin Cash was intended as a solution to bitcoin’s scaling problems, so what’s the deal with Bitcoin Gold? The new version has a different goal: to re-decentralize the mining of bitcoin.
While bitcoin started out as something that many people could “mine”—with their computers racing against others to be the first to verify blocks of transactions—it can these days only be mined by someone with warehouses full of specialist equipment. This leaves the profitable activity in the hands of a relatively small group of players, and the people behind Bitcoin Gold (BTG) want regular people to be able to play again.
The forked Bitcoin Gold system will therefore use a different “proof-of-work” block-verification algorithm that’s friendlier to the kinds of graphics processing units (GPUs) that regular people can buy. The code for mining Bitcoin Gold will come out in November, at which point people can start mining the new coin, and those who had regular bitcoins on Tuesday will get the equivalent in Bitcoin Gold.
That is, if their exchanges and wallet services support the new cryptocurrency. Late last week, Coinbasesaidit won’t support Bitcoin Gold for now “because its developers have not made the code available to the public for review.”
Some, such as BitBay and Coinomi, have said they’re on board with Bitcoin Gold. Others are keeping a cautious eye on developments. One wallet service, Uphold,saidit will “conduct an operational and security review of the new coin” once the code is out. “Once exchanges open to supporting BTG and the liquidity of BTG stabilizes, we will then provide updates when it will be offered for use on our platform and allocation of Bitcoin Gold to eligible members,” it said.
Time will tell as to whether Bitcoin Gold ends up being a significant player. In August, Bitcoin Cashstarted tradingnot much above $200 per coin, and at the time of writing it’s worth $327. Bitcoin itself has almost doubled in value over the same period.
That said, bitcoin took a bit of a dip following the Bitcoin Gold split, falling as low as $5,374 before recovering to $5,580 (at the time of writing). Some analystshave suggestedthis was because certain investorsbought into the systemjust before the fork, in order to get as many BTG coins as they could when the fork occurred, then sold their bitcoins afterwards.
[Random Sample of Social Media Buzz (last 60 days)]
Tiffany Haddishちゃんが || Be your own Bank, get pain interest ever day. #bitconnect is changing this #bitcoin game...… https://www.instagram.com/p/BcdlX28AlOr/ || This has to be the definition of choked #bitcoin http://metro.co.uk/2017/12/09/man-threw-away-laptop-with-bitcoin-that-is-now-worth-74-million-7145361/ … || Ripple Price Leaps 13 After Company Escrows 55 Billion XRP http://ift.tt/2jaVeDB #bitcoin #ethereum #crypto #cryptocurrency #btc #eth #bitcoincash #btch #blockchain #ripple #xrp #litecoin #ltc #ico #ether #cryptocoins || Nach Wahnsinns-Rallye beim #Bitcoin: Kippt die Stimmung jetzt? http://a.msn.com/00/de-de/BBGnXE0?ocid=st … Warum? || 16日22:00から直近2時間の #coincheck の変動率。
値上がり率1位は $LSK で2.6%、値下がり率1位は $XEM の-2.6%。
#BITCOIN $BCH $XRP $LTC $REP $ZEC $FCT $XMR $ETHpic.twitter.com/XwKSVPJv3g || こんばんは。 bitcoin priceという || こんばんは。 bitcoin priceという || I made 0.2 BTC yesterday. Join now:
http://t.me/CryptoWhalesClub …
$GAM $GAME $GUP $BAT $ION $KORE $MEME $MCO $MYST $AUR $NEOS $NMR $OMG $QRL $SWIFT $RISE $SAFEX $TRST $APX $BSD $BLOCK $GBYTE $TIME $CVC $CFI $XCP $XST $DCT $DASH $DMD $DOGE $EFL $ETH $WINGS $FAIR
ehcgdcjbigc || #Putin Tells Central Bank Not to Create Barriers to #Cryptocurrencies
|
Trend: up || Prices: 15455.40, 16936.80, 17415.40, 16408.20, 16564.00, 17706.90, 19497.40, 19140.80, 19114.20, 17776.70
|
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 2019-12-31]
BTC Price: 7193.60, BTC RSI: 44.95
Gold Price: 1519.50, Gold RSI: 72.09
Oil Price: 61.06, Oil RSI: 60.60
[Random Sample of News (last 60 days)]
Bitcoin, Ethereum & Litecoin - American Wrap: 12/30/2019: BTC/USD Price Analysis: Watch out in thin market conditions!
The chart below directly illustrates why trading Bitcoin can be dangerous at times.
The top chart shows BTC/USD prices on the Bitfinex exchange, while the bottom shows the same pair trading on Coinbase.
On the chart above there was a clear mini-crash lower with decent volume behind it. The difference can be measured in percentage on the right-hand side.
Amazingly, 7201.30 was the candle low on Bitfinex while on Coinbase the low stands at 7244.56.
Ethereum Technical Analysis: ETH/USD must break $140 for any hope of a recovery
Ethereum price is trading in the red by some 0.35% in the session on Friday.
ETH/USD price action is running at four consecutive days in the green, as the bulls look to regain control.
A big barrier of resistance can be observed at the $140 price mark.
Litecoin Technical Analysis: LTC/USD bulls have the opportunity to push for a recovery
Litecoin price is trading in minor negative territory by some 0.50% in the session on Monday.
LTC/USD is running with three consecutive sessions in the green, as the bulls push for a recovery.
The next major area of interest will likely be towards the psychological $50 mark.
Image Sourced from Pixabay
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See more from Benzinga
• Bitcoin, Ethereum & Litecoin - American Wrap: 12/17/19
• Bitcoin, Ethereum & Litecoin - American Wrap: 12/16/19
• Bitcoin, Litecoin & Ripple - American Wrap: 11/21/19
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || MARKETS DAILY: Defeating the ‘Domination’ of the US Dollar: With bitcoin seemingly back to ‘normal’, Iran and Myanmar are talking about a sanction busting ‘Muslim’ cryptocurrency. We take a moment to look at historical adoption over time, and how it might apply to national cryptocurrencies.
No time to listen?Scroll down for the full transcript
On today’s episode:
• Markets, international and industry news roundup
• Iran wants a 'muslim' cryptocurrency, andthey're not alone
• Industrial scale bitcoin miners are starting to useWall Street style hedging instruments
Related:Should the Government Have a Say in Where You Can Invest?
Transcript
Adam B. Levine:On today’s episode, Back to Normal Bitcoin, Nation-State Crypto, and Miner Hedging Strategies
Adam:It’sDecember 20, 2019, and you’re listening to Markets Daily, I’m Adam B. Levine, editor of Podcasts here At Coindesk, along with our senior markets reporter, Brad Keoun, to give you a concise daily briefing on crypto markets and some of the most important news developments in the sector over the past 24 hours.
Related:MARKETS DAILY: Bullish Bitcoin Dreams and a 2019 to Remember
Brad Keoun:Bitcoin appears to have settled back into the range where it’s traded for the past month, roughly in a range between $6500 and $7800.
This morning the price is down just a touch, on light volume, to about $7100, right in the middle of that range
As we head into the final weeks of the year, bitcoin is up 93 percent year-to-date, though traders are wondering if the price next year could rise back above that June high around $13,880
Adam:Turning to Europe, the German stock exchange owner Boerse Stuttgart Group is teaming up with Japanese financial giant SBI Group on a joint initiative to expand their digital assets businesses internationally
SBI will take a stake in the German exchange’s regulated digital assets-trading platform and also might invest in its venture-capital unit
The partnership aims to develop QUOTE “a truly global end-to-end ecosystem for digital assets, utilizing blockchain technology” UNQUOTE
In the U.S., Forbes reports that Congressman Paul Gosar, an Arizona Republican, has introduced a draft bill called the Crypto-Currency Act of 2020 to clarify regulation of digital assets
The bill would create three categories of digital assets, cryptocurrencies, crypto-commodities and crypto-securities
Brad:And in industry news, the big crypto exchange Binance has invested an undisclosed amount of money in derivatives platform FTX as part of a strategic partnership between the two firms
According to the announcement, Binance has purchased equity in FTX, but it also purchased positions in FTX’s digital token
Separately, the venture funds Dragonfly Capital and Paradigm have acquired $27.5 million worth of MakerDAO’s MKR tokens and plan to take part in the network’s governance.
Announced Thursday, the investment will fund the Maker foundation’s efforts to promote adoption in China and the broader Asia region of MakerDAO’s dai token
Dai is a dollar-pegged stablecoin that’s become an increasingly watched part of the fast-emerging emerging landscape of decentralized finance, known as DeFi, essentially distributed networks that some industry participants hope could eventually supplant banks and other big financial companies
Adam:Bloomberg reports that the big U.S. hedge fund Fortress will renew its efforts to buy creditors claims from the defunct Mt. Gox cryptocurrency exchange, offering to pay up to 70 cents on the dollar on their account value
Based in Japan, Mt. Gox was once the world’s biggest Bitcoin exchange, until it closed in early 2014 after losing hundreds of thousands of bitcoins.
Thousands of Bitcoins have since been found, which have of course increased more than 10-fold over the past five years
Brad:And finally, Reggie Fowler, an Arizona businessman who was a minority owner of the National Football League’s Minnesota Vikings, plans to plead guilty to federal allegations that he ran a shadow banking service for cryptocurrency startups
According to an indictment earlier this year, Fowler and an associate opened bank accounts at various financial institutions to store funds on behalf of cryptocurrency exchanges but told the banks they would process real-estate transactions
A hearing has been scheduled for January in New York.
SEGMENT 2 – FEATURED STORY (Muslim Cryptocurrency & History’s Guide to Fringe Adoption)
Adam:Turning to todays featured story, CoinDesk’s David Pan writes that
Iranian President Hassan Rouhani said the Muslim world needs its own cryptocurrency to fight American economic domination in international trade and cut reliance on the dollar.
“The Muslim world should be designing measures to save themselves from the domination of the United States dollar and the American financial regime,” he said at the Kuala Lumpur Summit in Malaysia on Thursday.
Iran has been hit with severe economic sanctions by the U.S. that limit how the nation’s financial institutions make investments abroad since the dollar is the most common currency in international transactions. The Iranian government has beenworkingon expanding the use of cryptocurrencies such as bitcoin to circumvent the U.S. sanctions.
Adam:While there are no functional nation state or central bank digital currencies yet, if history is any guide this is a temporary thing.
When crypto technology got its start just a little more than 10 years ago it presented a new possibility, but also new risks. The early users who gravitated to bitcoin were pretty much without exception outliers from society at large in some way. In the early days these were libertarians unhappy with the economic order of things and those who wanted to buy something they weren’t allowed to online. For both of these types of users even a very very early bitcoin offered significant advantages, which is why they used it. And while those demographics have not grown as Bitcoin has over time, they did kickstart its demographic explosion by proving what was possible, and making the opportunity obvious to those with less incentives to try something new.At the nation state level, we see a similar pattern emerging over the past few years, with the troubled Venezuelan government introducing the “Petro” as a way to bypass US sanctions, to reportedly limited deployment and certainly limited effect. Iran falls into this same bucket. It’s been said that Bitcoin doesn’t ignore borders, it transcends them as if none exist. That’s an element that’s wildly valuable to any nation finding itself on the wrong end of a US dollar reserve currency denominated financial system as it provides a distributed alternative which can’t be stopped by banks, bombs or bullets.
Beyond the economic outcasts, this last year we’ve heard of less controversial if not more important efforts like the Marshall Islands national digital currency, or perhaps most interesting of all, China’s long teased move to a digital yuan.
These moves aren’t here yet, but they are tangible, they are important, and they are coming. And if it was bitcoin’s early fringe users who led to the vibrant, global cryptocurrency ecosystem we see today, can you imagine, what’ll happen next?
Adam:And now, for today’s spotlight, we’re looking at a new derivatives market in the crypto industry – this one tailored not for bitcoin traders, but for bitcoin miners
Brad:For today’s spotlight, we’re looking at a growing practice in the cryptocurrency mining business: hedging
Earlier this week we brought you the news that Canaan, a big Chinese maker of computers for mining bitcoin and other cryptocurrencies, was seeing a big drop in its stock price, thanks partly to a sales slump in the industry but also due to price competition from the industry leader, Bitmain
Well part of the backstory there is that the big purchases of crypto-mining computers are increasingly coming from large-scale operations that can get their costs down by buying in bulk and also negotiating electricity-supply contracts at cheap wholesale rates
That’s crucial because some of these so-called mining farms consume the same amount of power as a small town or city, with the computers, known as mining rigs, working to confirm transactions on the blockchain 24 hours a day, seven days a week
As the business becomes more institutional, the finances of these operations are become more sophisticated as well, with more of an eye on risk-management
To that end, it’s becoming increasingly common for mining firms to hedge their future output,
Reuters reported earlier this month that crypto miners are now using derivatives not just to hedge price risks, but to hedge against changes in bitcoin’s hashrate, or the total amount of processing power on the network
The hashrate, which is in some ways akin to the way oil traders analyze the weekly count of drilling rigs, can be quite volatile along with the price
These derivatives work sort of like business-protection insurance, helping mining firms to avoid losses if the hashrate suddenly changes for the worse
According to a press release on Thursday, the digital-asset trading firm GSR, which says its leadership team includes former executives from the Wall Street firm Goldman Sachs and Japanese bank Nomura, says it has partnered with Interhash, which is a strategic partner of Canaan’s, to provide a customized suite of derivatives for the mining industry
The suite will include swaps, collars and more bespoke structured products, according to the press release
The cost of mining equipment and electricity are constantly in flux, says Cristian Gil, GSR’s co-founder
The unpredictability of their business models is unprecedented, so it is natural that this segment of the market is exploring ways to better hedge their risk, he says
The companies estimate that some $3B USD of Bitcoin will be mined in 2020 alone, based on current prices.
Richard Rosenblum, GSR’s co-founder, acknowledged that this hedging market in bitcoin remains small compared with traditional commodities,
But this market could grow along with the crypto industry, he says
The announcement serves as a reminder that, with bitcoin’s price volatility, quadrupling during the first half of this year and then tumbling by 50 percent, the mining business can be a dicey proposition, and it’s increasingly turning to Wall Street-style tools to manage the substantial risks
Adam:Join us again on Monday for the first of our short Holiday episodes, which we’ll be running through the 1st of the year, with full episodes resuming on January 2nd, 2020.
To make sure you never miss an episode, you can subscribe to Markets daily on Apple Podcasts, Spotify, Google Podcasts, and just about any other place you’d like to listen. If you’re enjoying the show, we really appreciate you leaving a review. And if you have any thoughts or comments, [email protected]
• ‘Stacking Sats’ vs. ‘ETH Is Money’ – The Memes That Shaped 2019
• MARKETS DAILY: Crypto Bears Circle While Hackers Rethink Their Malware Strategy || Even if a Thousand Projects Don’t Make It, Blockchain Is Still a Change Catalyst: This post is part of CoinDesk’s 2019 Year in Review, a collection of 100 op-eds, interviews and takes on the state of blockchain and the world.Gary Gensler is a professor at the MIT Sloan School of Management, Co-Director of MIT’s Fintech@CSAIL and Senior Advisor to the MIT Media Lab Digital Currency Initiative. He was formerlyChairman of the U.S. Commodity Futures Trading Commission, Under Secretary of the Treasury, and a partner at Goldman Sachs.
Gartner, an IT research and consulting firm, came up with a framework to look at the stages of adoption and market enthusiasm of emerging technologies. Though criticized by some for being unscientific, the Gartner ‘Hype Cycle’ has caught on in popular culture. Where might cryptocurrencies and blockchain technology be now in that cycle compared with emerging technologies of the past?
Measured by market valuations, cryptocurrencies have experienced several booms and busts. The Mt. Gox-led boom and bust of 2012 to 2014. The ICO boom and bust of 2017 to 2018. And more recently the tokenization and Facebook Libra led boom and, dare I say, bust of 2019.
Related:In 2019, Students Demanded Blockchain Education. In 2020, It’s Coming
Market values are but one measure and don’t necessarily equate with underlying viability of an emerging technology. While expectations have waned, might cryptocurrencies and blockchain technology still be at inflated expectations? Many minimalists would contend so. NYU economist Nouriel Roubini isn’t alone with his oft-noted doubts about cryptocurrencies.
Might the field be bouncing along the trough of disillusionment, awaiting signs of viable use cases?
Joe Lubin, founder of Ethereum and ConsenSys, thinks so, finalizingthe terms of his betwith Jimmy Song on the future viability of DApps. Song remains optimistic about the utility of bitcoin as a digitally scarce store-of-value, but remains decidedly a minimalist with regard to the viability of blockchain technology for other uses.
Through the mist of 2019’s hype of bold announcements, the crypto market’s ups and downs, and departures of hundreds of projects from the field, though, some ground-truths are evident.
• Satoshi Nakamoto – whomever she, he or they are – solved the payments riddle, how to securely move value peer-2-peer on the internet while avoiding double-spending.
• Money is but a social and economic construct.
• Regardless of cryptocurrency viability, we already live in an age of digital money.
• Append-only ledgers and multi-party consensus (a.k.a. blockchain technology) provide an alternative which can address verification and networking costs.
• Adoption rests on addressing comparative viability and value proposition of use-cases.
• Bitcoin and other cryptocurrencies have evolved into a speculative asset class.
• A new form of crowdfunding, built upon smart contracts and ICOs, raised nearly $30 billion.
• Crypto exchanges – not yet appropriately brought within public policy frameworks – have provided retail investors a direct way to trade crypto assets.
• Crypto markets have been rife with scams, fraud, hacks and manipulation.
• The potential this technology to be a catalyst for change is real.
Related:The Great Crypto Experiment Continues
This last point – crypto and blockchain technology acting as a catalyst for change – may not fulfill the heightened expectations of maximalists, but may be Nakamoto’s most enduring early contribution. This new form of private money and its underlying shared ledger technology already have been catalysts for central banks, big finance and big tech. Along with fintech innovations, crypto initiatives have spurred incumbents to update payment solutions and explore new approaches to finance and multiparty database management.
The People’ Bank of China’sDigital Currency/Electronic Payments projectand the US Federal Reserve’sFedNow℠ Servicereal time payments projects both emerged in the wake of Facebook’s Libra announcement. Facebook’s ambitious initiative to create“a new global currency, which could meet the daily financial needs of billions of people”is spurring change even in the face of themany policy challengesit raises.
To many observers, the question remains what uses will cryptocurrencies and blockchain have beyond acting as a catalyst for change? Beyond bitcoin providing a scarce digital speculative store of value, and niche applications in digital exchanges, gaming, and gambling, what applications will be sustainable for cryptocurrencies as a new form of private money? What will actually benefit from the shared multiparty ledger systems facilitated by blockchain technology?
Actual adoption of crypto or blockchain technology projects rests on addressing comparative viability and value creation propositions. Foremost:
• How will the technology’s decentralization actually benefit the use case’s economics?
• How will governance and collective action amongst multiple parties be resolved?
• What specific gaps or pain points would a native token fill compared with fiat payment system?
• What are the benefits of any P2P transfers not facilitated by traditional systems?
• What are competitors (both traditional and blockchain) doing to address purported pain points?
• What are the tradeoffs of performance, privacy, security, governance & regulation?
• How can broad adoption and user interface be realized?
Though literally thousands of projects have yet to land on broadly adopted use cases, I remain intrigued by Satoshi’s innovation’s potential to spur change – either directly or indirectly as a catalyst. The potential to lower verification and networking costs is worth pursuing, particularly to lower economic rents and data privacy costs, and promote economic inclusion. Further, shared blockchain applications might help jumpstart multiparty network solutions in fields that historically have been fragmented or resilient to change. Even in this slightly less ambitious form – acting as an innovative irritant to incumbents and traditional technologies – cryptocurrencies and blockchain technology have already prompted real change and can continue to do so.
As an informed reader of CoinDesk, what do you think? Where might you place yourself on the scale from minimalist to maximalist? Where might the Gartner team put cryptocurrencies and blockchain technology as we close out the 2020s?
• Change Won’t Happen With Chairman Clayton Around: Kristin Smith
• Lessons From the First Digital Gold Boom || Global Crypto Alliance (CALL) partners with Parachute (PAR) and gets listed on ParJar: VALLETTA, MALTA / ACCESSWIRE / December 26, 2019 /We are proud to announce that GCA and Parachute, the maker of the ParJar bot, have agreed to mutual cooperation. This will be beneficial for both parties as well as many crypto communities in an effort to make interfacing with cryptocurrencies less cumbersome and much more fun & attractive.
"The vision of Parachute is a perfect match to GCA´s vision to make crypto easily available by reading or writing on GCA´s platform GCnews.io as well as understandable for everyone. And most important to make transfers/usability as easy as sending a text message to a friend." - René-M. Bogislawski, CEO of GCA.
Both companies have begun working together to achieve this goal. The first step was to add CALL token, the first-ever ERC777, to the ParJar bot, smack dab in the mix with all major cryptocurrencies such as BTC and ETH.
Moving forward, both companies will work together building upon this fresh foundation to bring the vision of mass adoption to fruition through the world's most popular messaging apps. With the combined knowledge of both teams and a shared interest in growing together, amazing solutions for usability that the average user needs will be rendered in a very timely manner. With the ParJar bot, you can already send tokens within many Telegram groups at no cost with just a tap.
Make no mistake, this is only the beginning. Indeed, integrations with more messengers are already in the queue and with this mass adoption of crypto is right around the corner.
"With over 25k active users and growing, Parachute welcomes joining forces with Global Crypto Alliance and listing CALL token on ParJar." stated Alexander Michelsen, Co-Founder of Parachute.
About PararchuteParachute is the group that brings you ParJar, the best way to share cryptocurrency instantly and without fees. ParJar makes cryptocurrency simple, fun and social. We look forward to our continued partnership and making crypto for everyone. Check out more atwww.ParJar.ioandwww.parachutetoken.com
About Global Crypto AllianceGCA constitutes a new kind of borderless organization with experienced professionals who are specialized in decentralized business development and blockchain ecosystems. The CALL ERC777 smart contract has rendered a multi-utility token that will be leveraged both inside & outside the GCNews ecosystem, facilitate voting competitions & economical Paydays, be a rewarding mechanism for GCAcademy, offer discounted rates to projects that acknowledge how ERC20 is soon to be superseded, and with its callback function will allow GCA to expand into additional business segments such as rental applications.
https://gcalliance.io/;https://globalcryptonews.io/;https://gcsecurity.io/
Media ContactName-René-M. [email protected]://gcalliance.io/
SOURCE:Global Crypto Alliance
View source version on accesswire.com:https://www.accesswire.com/571343/Global-Crypto-Alliance-CALL-partners-with-Parachute-PAR-and-gets-listed-on-ParJar || Bitcoin Has Got Society to Think About the Nature of Money: This post is part of CoinDesk’s 2019 Year in Review, a collection of 100 op-eds, interviews and takes on the state of blockchain and the world. Daniel Gorfine is the founder of fintech advisory firm Gattaca Horizons LLC. He currently serves as an adjunct professor at the Georgetown University Law Center, and is former chief innovation officer of the U.S. Commodity Futures Trading Commission.
Sometimes I imagine the advent of bitcoin as akin to the sudden appearance of themonolithin Stanley Kubrick’s2001: A Space Odysseythat triggers curiosity, suspicion, euphoria and then ultimately evolution across a band of interested primates. Satoshi Nakamoto’s now more than 10-year-old white paper has elicited a broad range of human emotions, reactions, and responses ranging from those who believe this is all nothing more than digital smoke and mirrors, to those who argue blockchain is the biggest innovation since the development of the internet.
Regardless of your view, it is clear that bitcoin has driven society to think more broadly about the nature of money, the way we engage in economic activity, and the role of financial intermediaries and technology infrastructure in our markets. As we head into the year 2020, and wrap-up over a decade of experience with cryptocurrency, it is worth taking stock of five key market and regulatory topics that are likely to drive the crypto agenda heading into the new year.
Related:Dissidents and Activists Have a Lot to Gain From Bitcoin, if Only They Knew It
Thefirsttopic is a remnant of the global ICO mania of 2018, which catalyzed fierce debate on the definition of a security in the crypto-context. Some within the crypto community have argued that tokens will serve a utility or consumption function in powering new decentralized economic models, and therefore should not be viewed through the lens of a securities offering. Global regulators have looked through the promise to argue that in reality many pre-sales of tokens bear the hallmarks of a traditional capital raise, and, therefore, are the proper focus of securities laws.
Much of the mania over ICOs dissipated in 2019, but it remains the case that there is still existing ambiguity at the margins of when a token may be a security as compared to – or “morph” into – a decentralized utility or consumption coin. Absent (unlikely) legislation to clarify this perimeter, 2020 may be the year that the judiciary more fully applies doctrines such as the “Howey Test”in the crypto context, including in cases likeU.S. Securities and Exchange Commission v. Kik Interactive Inc.
To the extent that further clarity allows certain token projects to move forward outside of the securities law context, 2020 may also be the year that we begin to learn more about the viability, value, and economics of such projects (an area whereI have previously expressed skepticismthat we will see thousands or even hundreds of successful standalone tokens).
Asecondtopic, derivative of the first, is looking at how regulation will evolve in the U.S. to the extent that a token falls outside of the securities laws. Platforms that facilitate the trade of digital commodities are currently subject to a patchwork of state regulation that largely treats the exchange of virtual currencies as money transmission (although some states, such as New York, have tailored specific crypto-regimes). With the exception of FinCEN registration, there is no coherent federal framework that provides oversight of a digital commodity exchange (also known as the cash, spot, or underlying market). While the CFTC may have backward-looking fraud and manipulation enforcement jurisdiction, this is not a federal framework to oversee spot digital commodity trading as with securities, or futures and derivatives markets.
Related:How DeFi Goes Mainstream in 2020: Focus on Usability
The above-regulatory landscape seems to poorly serve both innovators and regulators. Digital asset market participants and innovators would benefit from a more efficient, rationalized, and mature regulatory framework that recognizes crypto-trading from a markets perspective instead of simply as money transmission. And regulators would better be able to satisfy regulatory interests – including investor protection and policing for trading manipulation – if the regulatory framework provided for direct market oversight.
2020 may be the year that policymakers at the state and federal level begin more robust consideration of a rationalized digital commodity regulatory framework.
For the above reasons, 2020 may be the year that policymakers at the state and federal level begin more robust consideration of a rationalized digital commodity regulatory framework.
At the federal level, an opt-in federal licensing option for cash-market digital commodity platforms could hold promise. At the state level, I would expect leaders to emerge in creating more streamlined, coordinated, and market-oriented licensing frameworks. These regimes would need to create properly tailored platform requirements, while leveraging appropriate market and trading oversight capabilities. The private sector, for its part, should continue to develop and deploy crypto-market surveillance and compliance tools, including through potential industry or self-regulatory bodies. All of these developments could help to enhance the integrity of underlying crypto markets.
Athirdtopic will be further exploration (and ideally clarity) around the application of the securities laws to digital assets that are deemed to be securities or that are involved in a registered offering. In other words – whether the token represents a registered or legal form of an ICO, the mere tokenization of a traditional securities offering, or the underlying basket of assets in an investment fund – how can blockchain technology or blockchain-based assets satisfy regulatory expectations and requirements?
Let’s drill down on a few examples to highlight what I mean. If we assume an asset is in fact a security, the way the security is marketed, transferred, cleared, and custodied must all satisfy securities laws. These laws, for example, impose requirements on SEC registrants toensure that customer assets are not lost, misused, or misappropriated. While this may sound straightforward, satisfying such standards poses unique challenges when the involved asset is secured with cryptographic keys, which can be lost or potentially shared with third parties.
A second related example of unique securities law considerations in the crypto context arises with respect to applications for a crypto-based ETF. TheSEC has made clearsuccessful applications will ultimately have to demonstrate how the fund can “prevent fraudulent and manipulative acts and practices.” A core challenge here derives from the regulatory framework outlined above – one which does not systemically surveil the underlying crypto-market for potential fraud and abusive trading practices.
My view is that efforts to further ensure the integrity of the underlying market – whether through application of more coherent regulatory frameworks or industry self-regulation – will be critical in enhancing requisite market integrity from a securities law perspective. CFTC oversight of evolving crypto futures markets may also advance these efforts.
Afourthtopic for 2020 will be ongoing developments around stable coins and digital fiat currency, includingthe Libra initiative, global CBDC efforts (including in China), or aU.S. hybrid model I have advocated for that recognizes a role for the government, but in partnership with private sector dynamism and ingenuity. The truth is that, despite bitcoin’s longevity, we have not yet seen the mainstream adoption and success at scale of a tokenized medium of exchange powered by decentralized blockchain rails. We know the potential benefits – including efficiency, speed, transparency, and inclusion – but we need to test the merits as compared to traditional payment rails. This testing and evolution will inevitably happen, and 2020 may prove to be a catalyzing year.
Afinaltopic moves beyond crypto as an asset and instead focuses on the many ancillary benefits that may arise from renewed focus on the technology infrastructure that underpins our broader markets and provision of financial services. I have frequently suggested that one of the positive outgrowths of the launch of bitcoin is that it has made the topic of interoperable databases and smart-contract-based automation a ‘hot’ area in the context of middle and back-office systems. Although existing infrastructure may be Scotch-taped and bubble-gummed together to serve its purpose, there is little question that new systems, which promote interoperability, data standardization, open architecture, and ready application of machine learning tools are the next generation of enterprise-level fintech. 2020 may be the year that webegin to see the value proposition of such infrastructurejustify the up-front investment cost.
It’s hard to believe it has been more than a decade since Satoshi Nakamoto released the bitcoin white paper. We still do not know who Satoshi Nakamoto is and how cryptocurrency-based innovation will evolve. But, as one of theearliest popular articles I could find on bitcoin noted back in 2010(when one bitcoin traded for 20¢): “purely as an intriguing idea that might indicate a possible future . . . Bitcoins are worth taking a look at.” Indeed, this intriguing idea promises to continue to drive our march into a 2020 cyberspace odyssey.
Happy New Year!
• In 2019, Students Demanded Blockchain Education. In 2020, It’s Coming
• Even if a Thousand Projects Don’t Make It, Blockchain Is Still a Change Catalyst || French Financial Watchdog Approves First ICO Under New ‘Visa’ Scheme: France’s Financial Markets Authority (AMF) announced Thursday it had approved an initial coin offering (ICO) for the first time. The successful recipient of the AMF “ICO visa” – a cryptocurrency fundraising platform called French-ICO – met the minimum guarantees required by law, including a white paper investors could understand, according to a statement from the regulator. ICO visas are a means to ensure sales do not bring investors undue risk. Applicants must show the AMF they have provided all relevant information about the sale, as well as the risks involved. Approval is not an endorsement for the company. Related: Alleged BTC-e Operator Alexander Vinnik to Be Extradited to France: Reports The regulator can only approve public offerings for utility tokens, and an applicant must be a registered entity in France. They must also have procedures for securing investor funds and comply with strict anti-money laundering (AML) requirements. Once approved, the ICO must take place within six months. France passed one of the most comprehensive legal frameworks for cryptocurrencies earlier this year. Known as the PACTE law, it provides companies legal certainty in return for being regulated by the AMF. That includes a guaranteed bank account, as well as the option to host a token sale in the country using the ICO visa. AMF approval further allows a company to market its sale and engage in promotional activities. Registration is optional, however. Companies can still host an unregistered ICO in France but they are not allowed to promote the sale to potential investors. Related: Blockchain of Things Pays SEC $250,000 to Settle Unregistered ICO Reuters reported in July that the watchdog was talking to three or four candidates for an ICO visa. Although the news was announced Thursday, French-ICO received its visa on Tuesday. Scheduled to begin in March, the sale is capped at €1 million ($1.1 million), according to its website . The visa runs out on June 1, 2020. Story continues The AMF has come down hard on crypto companies that have broken French law. The watchdog previously banned advertisements for cryptocurrency derivatives and, in March, blacklisted 15 cryptocurrency websites that it considered had unlawfully guaranteed high returns on investments. Related Stories Libra Lacks Clarity on ‘Opaque’ Currency Basket, Says Fed Reserve Governor Bitcoin App Bottle Pay Shuts Down Over Impending EU Money-Laundering Laws || Latest Bitcoin price and analysis (BTC to USD): Bitcoin (BTC) is currently trading at around $7,050 following a 6% decrease in price since last Monday. Over the past 24 hours, BTC is down close to 1%. BTC broke most of its support levels during a huge sell-off in November as the coin looked to be free falling. However, the world’s largest cryptocurrency found support near $6,700 and bounced back up to $7,800 before consolidating around $7,500 last week. During the weekend though, BTC took another dip that pushed price below key volume-resistance levels. Will BTC drop further soon? Let’s take a look at Bitcoin’s chart, courtesy of TradingView . At the time of writing, Bitcoin is still on a short-term bearish trend. Since price has been consolidating for the last few days, I now expect a significant price movement sometime within the week. I’m more inclined to think we’ll see a move to the downside, even though there’s a chance for a massive pump in the event fresh cash comes into the market. Since the massive bull market that took Bitcoin close to $14,000 earlier in the year, the coin has been dropping in value following a downtrend that was only broken in late October when price surprisingly broke through a number of key resistance levels (around the 200-day, 50-day, and 20-day EMAs). Bitcoin is still around 30% down from October’s high of $10,350 and close to 50% down from the yearly high in June. In addition, BTC has broken below its 200-day EMA, and all its EMAs have now crossed to the downside – another bearish signal. If the $6,700 level was to be broken, the next stop for BTC, if the volume profile is to be believed, is just above $5,000. The current Bitcoin trend History shows us that BTC is prone to huge drops between 30% and 40% during bull seasons. Therefore, I don’t advise that you fight the trend, but surf it for as long as possible. Last week , I underlined that within the next three to five weeks, we could see a major reversal after a period of serious accumulation by ‘hodlers’. We’re still in an accumulation phase and the current downtrend is proof. Story continues Volume has increased around 12% to $17 billion. This means we could be starting to enter the end of the short-term accumulation cycle and price action could either pump or dump. For the time being, as mentioned above, there’s a chance it can go either way. As long as price continues to record lower lows, that’s a bearish sign. I’m patiently waiting for a reversal signal. Will the trend reverse soon? As veteran traders and investors usually say, smart money “buys when there’s blood on the streets”. I’ve been saying for the past month that I’m waiting for major drops to make new entries. Moments like these are highly welcomed and appreciated. I strongly believe Bitcoin to be a long-term store of value, especially as traditional markets continue to show weaknesses. How can the markets continue to push higher throughout the year after the ECB’s recent rate cuts, the continuous share buybacks from huge corporations, or the inverted bond yield shoving investors away towards riskier assets? In addition, repo market activity – as in loans from central banks to commercial and investment banks – has spiked to new monthly records. That adds up to another signal of weakness for the general economy. In conclusion, investors and traders should pay attention to the overall economic panorama, as it will most likely be a major catalyst for worldwide BTC adoption. Safe trades! Current live Bitcoin pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Bitcoin price. Pricing is also available in a range of different currency equivalents: US Dollar – BTCtoUSD British Pound Sterling – BTCtoGBP Japanese Yen – BTCtoJPY Euro – BTCtoEUR Australian Dollar – BTCtoAUD Russian Rouble – BTCtoRUB About Bitcoin In August 2008, the domain name bitcoin.org was registered. On 31st October 2008, a paper was published called “Bitcoin: A Peer-to-Peer Electronic Cash System”. This was authored by Satoshi Nakamoto, the inventor of Bitcoin. To date, no one knows who this person, or people, are. The paper outlined a method of using a P2P network for electronic transactions without “relying on trust”. On 3rd January 2009, the Bitcoin network came into existence. Nakamoto mined block number “0” (or the “genesis block”), which had a reward of 50 Bitcoins. More Bitcoin news and information If you want to find out more information about Bitcoin or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started. As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not. Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. The post Latest Bitcoin price and analysis (BTC to USD) appeared first on Coin Rivet . || BRICS Nations Ponder Digital Currency to Ease Trade, Reduce USD Reliance: The BRICS association of major emerging economies has discussed developing a digital currency to ease trade in the bloc and reduce its reliance on U.S. dollars in settlement. The possibility was raised by the BRICS business council at a meeting in Brazil amid talks on the development of a new payments system between its five member nations, Russian news source RBC reported Thursday. Formed in 2006, BRICS is aimed to boost economic and political cooperation between Brazil, Russia, India, China and South Africa. Kirill Dmitriev, director general of the Russian Direct Investment Fund (RDIF) the entity that looks set to build the system told reporters after the event that the forum had mulled a single cryptocurrency for settlements between members. The decision to move forward with that part of the plan is not yet been taken. Related: Russia Wants to Be Able to Seize Cybercriminals Bitcoin Nikita Kulikov, member of the State Dumas expert council and founder of PravoRobotov Autonomous Non-Profit Organization, told RBC that, rather than being a digital form of money, the BRICS digital currency would likely be used to facilitate trade transactions. Most likely, it will be like certain obligations that can be transferred from one legal entity to another to confirm that the recipient will have claim rights, and the contractor will have obligations for a specific amount. It will not be money, we can say that it will be a paperless document flow to facilitate transactions, he said. If that turns out to be the case, the project appears more like trade finance blockchain platforms such as Marco Polo, which has recently started working with Russian firms . Indeed the use case for blockchain, or distributed ledger technology, is seen as being bright in the world of trade finance, with a number of efforts underway, including We.Trade , TradeWindow and Voltron . Such platforms reduce the traditional reams of manually prepared and distributed paperwork, allowing a realtime view into the agreement and status of a trade for all participants to see. They can also have automated settlement, powered by smart contracts, built in to fulfill trade obligations when certain conditions (such as a delivery) are met. Story continues Related: Russian Aluminum Plant Pivots to Bitcoin Mining Following US Sanctions The new payments system, which would use members national currencies, appears in part to be aimed at reducing BRICS nations reliance on the U.S. dollar, and perhaps boosting the Russian rubles role in trade. Dmitriev said BRICS has already reduced its use of USD in settlements over the last five years from 92 to 50 percent, while ruble-based transactions climbed from 3 to 14 percent. Such blockchain-based threats to the role of the dollar internationally are soon potentially to rise in scope and severity, with the apparent imminent launch of Chinas digital yuan and hints that the EU may develop its own e-euro . The Facebook-led Libra project has also raised U.S. regulators hackles , presenting as it does an alternative to USD for Facebooks billions of global users. BRICS sculpture image via Shutterstock Related Stories Binance CEO: Russia Is Our Key Market Final Russian Nuclear Scientist Sentenced Over Illicit Crypto Mining || A Bitcoin Wallet Is Orbiting the Earth at 5 Miles Per Second: CAPE CANAVERAL, FLORIDA – At exactly 12:29 EST on Thursday, a crypto wallet built by developers at SpaceChain hurtled into the stratosphere aboard a Falcon 9 rocket.
When it arrived at the International Space Station, the 1kg node – only a fraction of SpaceX CRS-19 resupply mission’s 2,600kg payload – became the first active bitcoin node on the ISS.
For SpaceChain, the launch is a step forward in its mission of building out a robust, decentralized blockchain infrastructure high above the Earth. The wallet will be beyond any country’s jurisdiction – and well above the reach of any physical hardware hacks.
Related:European Space Agency Backs Blockchain Satellite Project
SpaceChain sees its nodes as a radical new way to make crypto transactions more secure. This is the three-year-old company’s third launch and its first from American soil. The other two launches blasted off from China.
The wallet will play a small but important part in that long-term goal, said to Zee Zheng, SpaceChain’s CEO and co-founder. Once the astronauts aboard the ISS install it, the node will operate for about a year securing multi-signature transactions through the ISS data feed.
We met with Zheng over margaritas at a Mexican joint overlooking the famed Floridian Space Coast. More than half of his team had congregated in Florida to watch the launch. He was ecstatic.
This launch had been the 23-person company’s full-time focus for much of 2019 and it was a milestone they’ve been shooting for since they first proposed it 18 months ago.
Related:Bitcoin Nanosatellites Could Orbit Earth in 2016
“We put all the company’s resources into it,” said Zheng. SpaceChain declined to state how much payload space and research and development cost. They contracted through Nanoracks, whose CEO Jeffrey Manber is also a SpaceChain advisor.
It is fundamentally different from the other two nodes SpaceChain has put into orbit.
“For us, it’s kind of tricky,” said Zheng. “There’s no existing space-tested hardware available, so even to install our own software we needed to make major changes.”
Building a space wallet was one thing; making it compliant for use on the ISS was something completely different. SpaceChain’s open-source protocol had to be vetted by NASA and retrofitted for the station’s unique plug architecture, Zheng said
Zheng said that having Jeff Garzik as SpaceChain’s Chief Technical Officer helped in that regard. Garzik was one of the early bitcoin core developers and he led SpaceChain’s effort to build out the software soon to be integrated with the ISS. He’s also been thinking about blockchain in space even before SpaceChain founded, said Zheng.
“About five years ago in the bitcointalk forum, Jeff wrote an article about bitcoin in space,” said Zheng. “It’s been his dream for a while.”
This launch is a far cry from their first space project: a Raspberry Pi equipped with a Qtum node that the company launched from China’s Gobi desert in February 2018.
Their second launch, also from China, was slightly more developed. That hardware could run blockchain dapps on the SpaceChain OS and it communicated directly with the ground.
This new wallet will operate independently of SpaceChain’s past launches. It will not communicate with the previous nodes and all comms will route through the ISS feed to ground. This means the device will have a slower connection and it will take hours, not minutes for any single transaction to complete.
“We actually want to make slower,” said Zheng, who described this crawling pace as a feature, not a bug.
“We see so many crypto exchanges get hacked. And within two minutes the funds – millions of dollars – get transferred. By utilizing this channel we can not only secure transactions,” but have a chance to intercept suspicious activity, he said.
This could appeal to high-dollar clients – custodial services, exchanges, and enterprise customers, said Zheng, who are more than willing to trade a few extra hours for added peace of mind.
The node will live alongside a number of other experiments sent up to the ISS including Anheuser Busch’s study of how sugars malt in space and an experiment to test of the effects microgravity has on genetically modified super-mice.
Only a few months ago it received a 60,000 euro grant from theEuropean Space Agency. Zheng said the exposure that comes with NASA and SpaceX will help it grow to the larger mission.
But he insists SpaceChain is rocket agnostic. It’s willing to contract with any agency, anywhere, whenever the time is right. NASA and SpaceX happened to be the ideal partners for the Dec. 5 launch, just as Chinese partners were for their first two. Future launches won’t necessarily be.
“Actually, next March we’re going to use an Indian rocket,” said Zheng, referring to one of the two SpaceChain launches he says is coming in the next 18 months.
In 10 years, perhaps, SpaceChain will deploy a network of dedicated satellites that “speak to each other” and run far more blockchain infrastructure than any single ISS wallet ever could, said Zheng. Until then, Zheng said he and SpaceChain will continue to rally toward its orbital goal.
“We’re welcoming anyone to join the revolution,” he said.
Image via CoinDesk.
• Xapo Looks to Outer Space in Latest Bitcoin Security Push
• Jeff Garzik Announces Partnership to Launch Bitcoin Satellites into Space || US Stock Market Overview – Stocks Surge on Phase One Trade Deal: US stocks surged higher on Thursday, rallying following news that the Trump administration has reached a trade deal in principle with China. Most sectors were higher led by energy and financials, real estate and utilities bucked the trend. Wholesale prices came out in line with expectations. US jobless claims jumped to a fresh 2-year high. The VIX volatility index tumbled 7% back below the 14% level.
The White House and China reached a trade deal in principle with China according to sources. It appears that the Trump administration is ready to scrap the next round of tariffs on China. The Trump administration has offered to eliminate tariffs on Chinese goods set to take effect Sunday and cut some existing duties in half. It appears that China will purchase 40-billion in agricultural products compared to the 50-billion the Trump administration wanted.
US Wholesale prices were unchanged according to the Labor Department which followed last months 0.4% surge in October. On a year over year basis, the PPI gained 1.1%, matching October’s rise, which was the smallest increase since October 2016. Expectations were for PPI would rise 0.2% in November and accelerate 1.2% on a year-on-year basis. Core PPI was also unchanged last month after edging up 0.1% in October. Core PPI increased 1.3% year over year, the smallest gain since September 2016, after advancing 1.5% in October.
Jobless claims surged 49,000 to 252,000 for the week ended December 7, the highest reading since September 2017. The increase was the largest since August 2017. Claims dropped to 203,000 in the prior week, which was a seven-month low. Expectations were for claims to increase to 213,000 in the latest week. The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, rose 6,250 to 224,000 last week.
Exit polls from the UK show that the conservatives have won a majority and will likely move forward withy a Brexit. Shortly after 10 p.m. London time, a survey of thousands of people who had just left the voting booth, indicated that the Conservatives are on course to gain around 50 seats, ensuring a healthy majority. The Labour would lose 71 seats from its performance in 2017. In Scotland, the Scottish National Party is forecast to win as many as 55 seats
Thisarticlewas originally posted on FX Empire
• Bitcoin Cash ABC, EOS and Ethereum Daily Tech Analysis – 13/12/19
• US Stock Market Overview – Stocks Surge on Phase One Trade Deal
• Gold Price Forecast – Gold Markets Slam Into Resistance
• It’s Risk-On! Trade News and Exit Polls Drive the Pound and the Majors
• USD/JPY Price Forecast – US Dollar Sideways Against Japanese Yen Again
• Silver Price Forecast – Silver Markets Fell At 50 Day EMA
[Random Sample of Social Media Buzz (last 60 days)]
Top 5 #cryptocurrencies
Alert Time: 2019-11-11 23:50:02
#Bitcoin: $8,765.442
#Ethereum: $186.352
#XRP: $0.276
#BitcoinCash: $289.567
#Tether: $1.002
#instabtc #bitcoin #cryptocurrencymarket #coinbase $CNY
https://t.co/rdEr8N5koT || 6 Ways That Bitcoin Is An Energy Solution, Not An Energy Problem (Infographic) : Bitcoin CRYPTO CRYPTO NEWS - https://t.co/Cz4kRpUdI9 || @netbacker @danv9119 @BernieSanders @federalreserve It's also kinda hilarious that the people that want gold also want Bitcoin. Dude probably sank his Fiat retirement savings into FPGAs to mine Bitcoin || *available now !!!🔥🔥
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#bitcoin #wizkid #Burnaboy #RedCups #CallMyNameMV #HopeForWonho #AirPodsPro https://t.co/BnR4wVuh9i || We all are, each day you live our you existance on this earthly plain is a day closer to DEATH! So act accordingly!
I've counted now and #Bitcoin has officially died over 1867 times!! https://t.co/I3YJo3Pc7F || 😺✏ — Oh damn! I'm sorry for just checking this app now. But I bought mine at BTC at the eco friendly store beside the t… https://t.co/APuXE7vtER || Koers Bitcoin BTC EUR live. De actuele Bitcoin (BTC) koers waarde in euro is €7,874.60 met een market cap van €142.08 miljard. De Bitcoin (BTC) koers is -0.70% gedaald in de afgelopen 24 uur.
https://t.co/BeSl3vXXY5
$BTC #Crypto #Bitcoin || Cartera de bitcoin Wasabi fue valorada en USD 7,5 millones https://t.co/yTntdnkKo7 https://t.co/EeiPz3XK7I || Certified Diamond Coin || IT Field Services Technician - Murtech Consulting ( Costa Mesa, CA, USA ) - [ ➡ https://t.co/zeZ4RUIKPh ] #Robotics #AI #ArtificailIntelligence #Robots #AI #jobs #Hiring #Careers #Cryptocurrency #Blockchain #BTC https://t.co/fNihusKLYY
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Trend: up || Prices: 7200.17, 6985.47, 7344.88, 7410.66, 7411.32, 7769.22, 8163.69, 8079.86, 7879.07, 8166.55
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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.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Bitcoin drops to three-week low on profit taking: By Gertrude Chavez-Dreyfuss NEW YORK, June 15 (Reuters) - Bitcoin fell to a three-week low on Thursday as investors took profits partly in response to a bearish report from Goldman Sachs as well as concerns about a Chinese bitcoin miner's plan to undertake a "hard fork" that will result in a split in the digital currency. The virtual currency relies on "mining" computers that validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. The first to solve the puzzle and clear the transaction is rewarded with new bitcoins. Bitcoin fell as low as $2,120 on the Bitstamp on Thursday and was last down 6 percent at $2,290. On the week, the currency has fallen about 22 percent, on track for its largest weekly slide since December 2013. On Monday, bitcoin hit a record just shy of $3,000. So far this year, bitcoin remains up 137 percent. Sharp losses such as Thursday's are par for the course for an asset like bitcoin, analysts said. Over the course of its eight-year history, Bitcoin has on a daily basis risen as much as 18 percent and fallen as much as 13 percent. Greg Dwyer, business development manager at crypto-currency trading platform BitMEX, said bitcoin's decline may have started on Monday when Goldman Sachs analyst Sheba Jafari said in a report, "The balance of signals are looking broadly heavy" for bitcoin. Jafari was "wary of a near-term top ahead of $3,134, adding that investors should consider re-establishing bullish exposure between $2,330 and no lower than $1,915." Analysts also said investors were spooked by Chinese miner Bitmain's plan to undertake a "hard fork" of bitcoin if a code upgrade on the currency is activated late this summer. Under a "hard fork", Bitmain would create an entirely new version of the bitcoin blockchain, resulting in an entirely new bitcoin currency, separate from the original currency. Bitmain's move was in response to proposals that attempt to solve the bitcoin network's limitations in processing millions of daily transactions. Bitcoin's network has not kept pace with its growth and is unable to process all the transactions fast enough. "Traders are concerned with what a fork could do to their holdings and most likely now converting to fiat (government currencies) until some clarity about the scaling debate comes to light," said BitMEX's Dwyer. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Cynthia Osterman) || Why You Shouldn’t Pay the Petya Ransomware: If you were affected by the latest global cyber attack that locked businesses out of their computer systems, here’s a tip: Don’t pay the Bitcoin ransom. You’ll be sorry if you do. Beginning in Ukraine and quickly spreading to large multinational corporations ranging from Maersk to Merck , the ransomware wave has caused incredible disruption and ground operations in affected organizations to a halt. The extortionists have demanded a payment of $300 in Bitcoin in order for victims to regain access to their systems. “We guarantee that you can recover all your files safely and easily,” the ransom note reads. There’s a problem though. People who pay the Bitcoin fee associated with the attack--which security researchers have dubbed Petya, NotPetya, ExPetr, Nyetya, and other variations on that theme--should not expect to recover their files even if they do pay. So much for that guarantee. Get Data Sheet , Fortune's technology newsletter. The ransom note requests that victims, after paying, provide their Bitcoin wallet ID and another identifying detail (a unique “personal installation key,” which the attackers provide). The attackers advise affected people to send this information to a certain email address: [email protected]. As Fortune noted on Tuesday, Posteo, the email service used by the attackers quickly suspended the attackers’ account , leaving them unable to communicate with their victims and preventing them from sending along decryption keys. This means there’s no obvious way for victims to get a decryption key from the supposed extortionists, even if they do pay. Fortune’s own note to the email address bounced back, as seen in the screenshot below. Some security researchers have questioned whether this attack can even be properly categorized as ransomware. Matthieu Suiche, CEO and founder of the Dubai-based cybersecurity firm Comae, told Fortune that he believes it is more appropriately considered as “wiper” malware, meaning malicious software that intends to destroy data rather than hold it hostage. Story continues Other experts have agreed with the essence of Suiche’s analysis. “Despite its presentation as ransomware, ExPetr ultimately functions as a wiper since we have discovered that the attacker doesn’t have the ability to decrypt the files even when receiving the payment,” a spokesperson for Kaspersky Lab told Fortune in an email. Raj Samani, chief scientist at spinout McAfee, concurred. “We always recommend for ransomware victims to not pay,” he said. “In the case of WannaCry and the Petya ransom demands it’s even more advisable since the likelihood of receiving decryption keys are almost nil.” Better put that $300 toward something more useful, like replenishing the office’s IT procurement fund. See original article on Fortune.com More from Fortune.com FBI Questions U.S. Employees at Russian Cyber Firm Kaspersky Lab Secure Messaging App Telegram Concedes to Russia's Registration Request Microsoft Windows XP Spotted Aboard the U.K.'s Newest War Ship Ransomware Attacks Halts Shipping Giant Maersk in Its Tracks Ransomware Attack Strikes France's BNP Paribas || Explaining Bitcoin Investment Trust’s (GBTC) Premium Over NAV: The Bitcoin Investment Trust (OTCMKTS:GBTC) is the first publicly traded security designed to track the performance of Bitcoin, and it does so for a 2% annual fee. The trust holds a little over $230 in Bitcoin per share while trading for $450-550 per share. Shares of GBTC trade for a significant premium over the value of the Bitcoin they represent, annoying many observers.
However, the negativity surrounding GBTC's premium is based on a misunderstanding of market efficiency and should not deter investors from this excellent opportunity. Often, analysts and investors mistakenly assume a large premium is a sign of market inefficiency or irrationality when it is actually a normal and healthy part of an investment's value. This article will explain why GBTC's premium over the spot price of Bitcoin is actually a good thing.
Like most rule of thumb beliefs, the idea that a premium over NAV is bad feels intuitive. After all, you wouldn't want to buy an apple for double the price of an apple. But this surface-level example doesn't fully capture why premiums over NAV became such an anathema to the investment community.
Most investment trusts hold bonds and other income generating securities that pay a fixed amount based on their face value. If an investor buys $100 worth of 10% coupon bonds for $200 - not only is his income reduced to 5% but when the bonds mature or get called, the investor will only receive $100 when he paid $200 to buy the bond. Most of the bond's yield was just return of capital. And that 5% was in practice only 1% or 2% if not negative when considering inflation. That sounds awful - but only in perception, not reality.
Investments can only be evaluated on a risk-adjusted basis. And if abond trades for such a high premium that its yield becomes minuscule, that simply means the bond was incorrectly priced at face value and the market compensated for this through a premium that reduced its yield. Premiums and discounts to NAV are the market's way of ensuring an equilibrium between risk and reward.
The Risk Premium
GBTC's premium exists because of the significant risks averted by investing in GBTC instead of the traditional methods of transacting in Bitcoin. To be clear, GBTC's premium is not about convenience, it is about actual value. Cryptocurrency exchanges are generally not secure. Digital currencies lack central accountability or authority and there is little recourse for theft. Many of the largest exchanges have been hacked. In 2014, a Bitcoin exchange called Mt. Gox handled around 70% of global transactions beforebeing hackedfor what was worth $450 million at the time. Last year, Bitfinex was hacked for $71 million, causing users to lose 36% of their deposits.
Because of the threat of hacking, cryptocurrency users generally recommend holding Bitcoin in what is called "cold storage" - a secure offline environment where it cannot be hacked. But there is a problem here. And whenever there is a problem there is an opportunity for value to be created through a security that solves the problem. By holding Bitcoin in cold storage, an investor sacrifices liquidity - the ability to quickly buy and sell his Bitcoin. However, if the investor holds the asset online, he increases the risk of total loss from hacking. GBTC solves this dilemma.
The Bitcoin Investment Truststores its Bitcoinin "Xapo, Inc., in deep cold storage vaults. Bitcoin stored in the Xapo Vaults reside on multi signature-addresses, the private keys for which are protected by intense cryptographic, physical and process security." By storing its Bitcoin in offline cold storage, GBTC solves the problem of security without sacrificing the liquidity. By solving this problem, GBTC has created value and it is literally worth more than the liquidation price of its assets.
But it doesn't end there, GBTC provides many more advantages. For example, Coinbase, the most popular Bitcoin exchange, imposes limits on the amount of Bitcoin that can be bought at a time. On top of this, bank transfers take 3-5 days to process. Bitcoin purchases transacted through a bank account are locked-in and cannot be sold until up to a week after purchase. The price of Bitcoin can change significantly over this period, but the investor will be unable to sell or cancel the order. On the other hand, GBTC allows investors to buy and sell freely.
Conclusion
The Bitcoin Investment Trust creates value by providing a solution to the tradeoff between security and liquidity in traditional Bitcoin investments. The trust's premium over the value of its assets is a reflection of the risks investors avoid by investing in GBTC instead of actual Bitcoin. This is not simply a premium for convince, but rather a premium for safety. And as investor awareness and interest in cryptocurrency grows, GBTC's premium is likely to increase, making the security a good way to invest in Bitcoin. With all that said, Investors must also consider the possibility of a new Bitcoin-based fund or ETF reducing demand for GBTC and removing its premium.
• Bitcoin Investment Trust (GBTC): Moving Back to the Upside || Revisiting An Overlooked Precious Metals ETF: The U.S. dollar is one of this year's most disappointing developed market currencies, but that is not helping the commodities complex. Most commodities, an asset class denominated in dollars, are sagging, but some precious metals have been notable exceptions.
Among exchange-traded products, theETFS Gold Trust(NYSE:SGOL) is up 9.4 percent year to date while theETFS Physical Palladium Shares(NYSE:PALL) is up a stunning 26.9 percent. Sturdy precious metals prices are helping theETFS Precious Metals Baskets Trust(NYSE:GLTR) to a year-to-date gain of more than 8 percent.
All That Glitters ...
GLTR holds a basket of physical gold, silver, palladium and platinum.
“Given this action in Precious Metals amid the FOMC rate backdrop, we are also looking at diversified 'Precious Metal' ETPs that generally appeal to those investors and portfolio managers whom prefer 'basket' exposure to the space as opposed to betting on specifically Gold or Silver for example,” saidStreet One FinancialVice President Paul Weisbruch in a note out Wednesday.
Pondering Palladium
Although gold and silver loom large in GLTR, palladium, until this week, has been helping the ETF surge.
“The background for palladium is for good industrial demand and likely a significant market deficit this year, and on top of course you’ve got this speculative squeeze,” Mitsubishi analyst Jonathan Butler said,reported Reuters.
Palladium supply is expected to be in a deficit again this year, which could help deliver more upside for PALL and GLTR.
“Traders reported a reluctance to lend the metal, suggesting tightness in near-term supply. Chart patterns indicate that the metal is vulnerable to a sell-off from these elevated levels, however, technical analysts said,” according to Reuters.
Macro Trends, Influences
While precious metals retreated Wednesday after the Federal Reserve boosted interest rates, inflation could portend more benefits for gold and friends.
AsBenzinga reported earlier this year, “Data suggests inflation is rising, which could bode well for gold ETFs because the yellow metal is often embraced as an inflation hedge. Accounting for inflation, real U.S. interest rates are in negative territory, further increasing the potential for out-performance by gold relative to other safe-haven assets.”
Related Links:
Fed Hikes Rates Without Disrupting The Market: 'Classic Yellen'
Is Bitcoin The New Gold? Still Too Early To Say
See more from Benzinga
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• The Good And The Bad Of Oil ETFs
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 10 things you need to know before the opening bell: Brazil protests (Police officers in riot gear clashing with demonstrators during a protest against President Michel Temer and the latest corruption scandal to hit the country, in Brasilia, Brazil.Reuters/Ueslei Marcelino) Here is what you need to know. The Fed talks balance-sheet reduction . Minutes from the May Federal Open Market Committee meeting released Wednesday show the Federal Reserve plans to unwind its massive balance sheet by gradually increasing limits on the dollar amounts of Treasurys and other securities that will be allowed to run off into maturity each month. The CBO score for the GOP healthcare bill is out. The American Health Care Act would leave 23 million more Americans uninsured than projected under the Affordable Care Act and undermine protections for people with preexisting conditions, according to an updated estimate from the Congressional Budget Office. OPEC reportedly agrees to extend production cuts . OPEC ministers meeting in Vienna agreed to extend production cuts by nine months, Bloomberg says. UK GDP disappoints . The UK's economy grew at a 0.2% clip in the first quarter, according to a second estimate provided by the Office for National Statistics. That was slower than the initial reading of 0.3% growth. The Chinese yuan hits a 2-month high . Offshore yuan climbed to 6.8651 per dollar, its best since March 28. Korea's central bank turns optimistic on its economy . The Bank of Korea held its key interest rate at a record-low 1.25% and said, "The Board judges that consumption will likely continue its modest trend of growth, but that the trends of improvement in exports and investment should expand compared to the April forecasts." Bitcoin is on fire. The cryptocurrency trades up by 10.6% at $2,692 a coin. It has gained 178% in 2017. Stock markets around the world are up . China's Shanghai Composite (+1.4%) led the overnight surge, while France's CAC (+0.4%) paces the gains in Europe. The S&P 500 is set to open higher by 0.3% near 2,412. Story continues Earnings reports keep coming. Best Buy, Burlington Stores, Dollar Tree, and Sears report ahead of the opening bell, while Costco, Deckers Outdoor, and GameStop will release their quarterly results after markets close. US economic data is limited. Initial claims will be released at 8:30 a.m. ET. The US 10-year yield is unchanged at 2.25%. More From Business Insider If a nuclear bomb explodes nearby, here's why you should never, ever get in a car Fan Twitter account says Ariana Grande has offered to pay for the funerals of Manchester attack victims 10 things you need to know today || Bitcoin: Is It a Bubble or a Strong Buy?: Bitcoin, the world’s most popular cryptocurrency, has soared more than 100% in the last two months. The once-mysterious investment is now being taken very seriously by Wall Street, and many are starting to wonder whether a bitcoin bubble is about to burst.
Last week, bitcoin hit an all-time high, only to suddenly drop nearly 20% over the next two days. Just today, bitcoin moved about 5% higher. For those familiar with the digital currency, these types of swings are no surprise—it is the nature of the cryptocurrency beast (also read: Explaining Bitcoin and Crypto Currency).
But some are more hesitant to write these sharp moves off as minor blimps. TakeBloomberg’s Cory Johnson, for example. Speaking about the recent price action on bitcoin, Johnson warned about the speculative nature of the currency’s valuation.
“While the long term value of bitcoin may be in the eye of the beholder, the volatility is really in the eye of the speculator,” Johnson said.
Johnson also pointed out that, like the finite resource of golf, part of bitcoin’s current appeal is that it is designed to eventually run out. Bitcoin production is supposed to be capped at 21 million, and there are already more 16 million bitcoins in circulation.
However, as more and more people attempt to “mine” new bitcoins, the process becomes more difficult. Bitcoin is not expected to hit its cap until 2140.
Of course, some are far more bullish on bitcoin. In fact, Saxo Bank analyst Kay Van-Petersen, who accurately predicted that bitcoin would hit $2,000 this year, recently said that the cryptocurrency could be worth a staggering $100,000 in ten years.
Investors will almost certainly not find that kind of return anywhere else.
Want more stock market analysis from this author? Make sure to follow @Ryan_McQueeneyon Twitter!
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade, which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains.Click to see them right 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 reportTo read this article on Zacks.com click here.Zacks Investment Research || How Ethereum became the platform of choice for ICO’d digital assets: Jason RowleyContributor
Jason Rowley is a venture capital and technology reporter forCrunchbase News.
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For most of the history of blockchain-based currencies and assets, the story has been all about Bitcoin. At a market capitalization of around $40 billion, it remains themost valuable cryptocurrency.
But with the rise of a new ‘chain on the -- ahem -- block, namelyEthereum, and new ways to fund the development of new crypto-platforms with ICOs, the narrative is shifting somewhat to theentire cryptographic asset class.
Today, let’s take a more in-depth look at some of the historical trends in the digital currency space, paying close attention to Ethereum and its role as the platform of choice for new cryptographic assets.
In roughly the past 12 months, the number of cryptocurrencies listed onCoinMarketCap.com, a main reference site for digital asset developers and speculators alike, has increased significantly.
Below is a chart compiled from the count of cryptocurrencies listed on historic snapshots of the site’s main table starting with the first snapshoton April 28, 2013(featuring a whopping seven cryptocurrencies) and the most recent snapshotfrom June 4, 2017.
As of the June 4 snapshot, there were 809 cryptocurrencies and other digital assets listed on the main CoinMarketCap page. As of Monday, June 5, 2017, at around 6:00 PM Central time, there were 857 cryptocurrencies and assets listed on the site.
Between January 3, 2016 -- the first snapshot of 2016 -- and June 5, 2017, the number of cryptographic assets listed on CoinMarketCap grew from 551 to 857, an increase of about 56 percent in almost exactly 18 months.
As the chart shows, the pace of growth in the number of crypto-backed assets is itself growing. Based only on the listings on CoinMarketCap, 80 percent of the growth in the number of cryptographic assets over the past 18 months took place since January 1, 2017.
The open-source nature of most cryptocurrency systems means that it’s trivially easy to make copies of the software (or “fork” its code, in developer parlance), make some modifications to the protocol and release it as a new, wholly separate system.
As Bitcoin’s price began to increase rapidly in the latter half of 2013, the aspiringSatoshi Nakamotosof the world began forking various cryptocurrency protocols to establish their own coins. By 2013, most of the forks were off ofLitecoin, which is based on Scrypt.
With Bitcoin’s price spike at the end of 2013, it had become inefficient to mine Bitcoin on commodity hardware (like graphics cards) because the arms race in the Bitcoin ecosystem produceda new breed of specialized hardware.
Scrypt, at the time, was still economical to hash on graphics cards, and as Litecoin and a few other Scrypt-based currencies began to appreciate in value, wholly separate cryptocurrencies were forked off of the original protocols to rise anew. Remember the goofy, meme-basedDogecoin? That was a fork of Litecoin. And in case you’re interested in looking at the “family tree” of cryptocurrencies,MapOfCoins.comproduced some really interesting data visualizations.
The goal was to create cryptocurrencies as valuable, or at least as lucrative, in the short-run, as Bitcoin. This somewhat haphazard approach of throwing cryptocurrencies against the proverbial wall and hoping that something sticks was certainly effective at expanding the scope of blockchain-based currency systems; however, that alone doesn’t explain the appreciating value of the asset class as a whole.
If the forkable, derivative-by-design nature of cryptocurrencies explains the breadth of the ecosystem, what explains the growth in value?
Part of it is surely market speculation, and another part of it is that cryptocurrencies and other blockchain-based assets do have real-world applications today.
But another part comes from cryptocurrency entrepreneurs wising up to the fact that their little upstart protocols, in order to be valuable, needed to have an ecosystem built around them. That, of course, takes time and money.
There are two ways of approaching this. Previously, it’s been common practice for cryptocurrency developers to pre-allocate a certain amount of their new cryptocurrency to self-fund development. Once their new cryptocurrency hit an exchange, and thus had a price, this private stash of coins would then have value, enough to sell for Bitcoin or fiat, which could then sustain a project until the ecosystem of wallets and services around their cryptocurrency became self-sustaining and community-driven.
Today, though, the fundraising mechanism of choice appears to be the initial coin offering. AsAlex Wilhelmexplainedin an article for TechCrunch:
“An ICO is a fundraising tool that trades future cryptocoins in exchange for cryptocurrencies of immediate, liquid value. You give the ICO bitcoin or ethereum, and you get some of Billy’s New Super Great Coin.”
This is how Ethereum’s development was funded, by way of a pre-sale of Ether for Bitcoin in July 2014. That pre-sale -- an ICO by another name --raised some 31,591 BTC, valued at more than $18.4 million at the time.
Although the mechanics of ICOs have been in practice for several years, the name and label for initial coin offering events has only gained some currency recently. And the ICO market has really hit a hockey-stick growth trajectory.
Based on data obtained on June 2 fromthe ICO Calendar on TokenMarket.net, the total number of ICOs listed on the site increased sixfold between March and May of this year.
But what’s fueling this massive growth in ICOs? Chances are, it’s similar to what drove the massive growth in the number of cryptocurrencies in the market back in 2013.
Back then, early speculators in Bitcoin, flush with newfound crypto-fortune, plunged their money back into emerging cryptocurrencies. This was done partially for fun (see Dogecoin and other novelties) but also to chase the same kind of returns they enjoyed from Bitcoin investments.
A recent article from CryptoHustlesuggests there might be a similar mechanism at play today, but it’s not Bitcoin millionaires fueling this ICO boom/bubble. Instead, CryptoHustle explains that “[t]he ICO mania is likely due to early Ethereum adopters making serious returns after the last bull run.”
For now, that bull run has continued unabated. Last week was the first time thatEthereum’smarket capitalization reached half that of Bitcoin’s, a massive milestone for the relatively new blockchain.
What explains the price increase? Speculation and other factors are no doubt at play here too, but it’s likely the architecture behind Ethereum’s blockchain system that makes it uniquely valuable, or at least uniquely flexible and extensible.
Bitcoin is a relatively bare-bones blockchain system that requires layers of protocols to be built on top of it to make it a usable platform for utilities like smart contracts. Platforms likeCounterpartyandOmniare both built on the Bitcoin blockchain and have sprouted their own collection of digital assets and services that ride on top of them.
Ethereum, on the other hand, was launched with its own scripting language baked in, making it possible to build complex smart contracts, decentralized autonomous organizations (DAOs), decentralized autonomous apps (DApps) and even other cryptocurrencies with relative ease.
This ease of development, combined with the rising price of Ether and a desire by early stakeholders to re-invest in the Ethereum ecosystem, has made Ethereum the platform of choice for crypto-asset entrepreneurs -- at least for now.
Based on the same data extracted from TokenMarket we looked at earlier, we charted the proportional share of Ethereum-based assets versus all other assets that have either ICO’d already or soon will.
From zero percent of the monthly asset offerings less than a year ago, to more than half of all the closed or announced ICO events tracked on that page, the growth of Ethereum is impressive.
Ethereum’s flexible, extensible blockchain system makes it relatively easy for developers to build and launch their own DApps, DAOs and crypto-assets. But ease-of-use is not sufficient to explain Ethereum’s growing traction in the new digital assets space. It’s where a disproportionate amount of the money is, too.
For these final charts, we extracted the rows fromCoinMarketCap’s listing of digital assets. The table lists names, blockchain platforms, market capitalizations and prices of some 119 assets.
Although roughly a third of the assets listed were built on Ethereum, just over three-quarters of the market value of all of these assets is tied up in assets built on top of the Ethereum platform.
At the time of writing, there’s approximately $3.4 billion in market value represented by the 119 crypto-assets listed on CoinMarketCap’s digital assets page. Of that, around $2.6 billion is tied up in assets based on Ethereum.
Just the top four Ethereum-based assets --Golem,Augur,Basic Attention TokensandGnosis-- represent $1.27 billion in market value. This is roughly half of all the value attached to Ethereum-based assets and more than a third of all the market value of crypto-backed assets and tokens in general.
The value of crypto-assets listed on CoinMarketCap is divided between those built on Omni and those built on Counterparty. Ethereum is the platform of choice because it offers a blockchain platform with a built-in abstraction layer, which serves to unify the ecosystem.
Ethereum offers the tantalizing promise of one chain to rule them all, or at least one chain to act as the foundation. Ether traders, entrepreneurs and developers alike are keen to let a thousand tokens, DApps and DAOs bloom because, although each of these assets is distinct, their roots run deep and ultimately back to Ethereum. || Can Advanced Micro (AMD) Pull an Earnings Surprise in Q2?: Advanced Micro Devices Inc. AMD is set to report second-quarter 2017 results on Jul 25. Notably, the company has a mixed record of earnings surprises in the trailing four quarters, with an average positive surprise of 34.09%. In the last quarter, the company reported a loss of 7 cents per share, which was in line with the Zacks Consensus Estimate. Revenues increased 18.3% year over year to $984 million primarily driven by higher Graphics Processor Unit (GPU) sales. Additionally, revenues beat the Zacks Consensus Estimate of $983 million. AMD expects second-quarter 2017 revenues to increase 17% sequentially (+/- 3%). At mid-point this reflects 12% growth on a year-over-year basis. Further, gross margin is likely to be 33%, while non-GAAP operating expenses are estimated to be $370 million. Let’s see how things are shaping up prior to this announcement. Factors to Consider We note that the stock is up 21.7% on a year-to-date basis, which reflects bullish expectations from AMD’s expanding product portfolio (Ryzen Pro, Vega accelerator, EPYC server processor, Ryzen desktop processor). The company has also benefited from strong demand of its GPU cards, which are now increasingly used to mine cryptocurrencies like Bitcoin and Ethereum. Advanced Micro Devices, Inc. Price and EPS Surprise Advanced Micro Devices, Inc. Price and EPS Surprise | Advanced Micro Devices, Inc. Quote However, over the same time frame, the stock has underperformed the 30.8% rally of the industry it belongs to. The underperformance reflects stiff competition from NVIDIA NVDA in the GPU space and Intel in the consumer PC market. Nevertheless, AMD’s improving position in key markets – like virtual reality (VR) and augmented reality (AR), gaming and parallel processing – driven by the launch of Radeon and Ryzen chips is a key catalyst. Earnings Whispers Our proven model does not conclusively show that Advanced Micro is likely to beat earnings this quarter. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. That is not the case here, as you will see below. Zacks ESP : Advanced Micro’s Earnings ESP is 0.00%. This is because both the Most Accurate estimate and the Zacks Consensus Estimate are pegged at a loss of 3 cents per share. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. Zacks Rank : Advanced Micro carries a Zacks Rank #2, which when combined with a 0.00% ESP makes surprise prediction difficult. We caution against stocks with a Zacks Rank #4 and 5 (Sell-rated) going into the earnings announcement, especially when the company is seeing negative estimate revisions. Stocks to Consider Here are some companies you may want to consider as our model shows that these have the right combination of elements to post an earnings beat: Cypress Semiconductor CY with an Earnings ESP of +11.11% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here. . Lam Research LRCX with an Earnings ESP of +1.31% and a Zacks Rank #1. Story continues Will You Make a Fortune on the Shift to Electric Cars? Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge. With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research. It's not the one you think. See This Ticker Free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cypress Semiconductor Corporation (CY) : Free Stock Analysis Report Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Lam Research Corporation (LRCX) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research View comments || Chief of bitcoin exchange Mt. Gox denies embezzlement as trial opens: By Thomas Wilson TOKYO (Reuters) - The 32-year-old chief executive of defunct Mt. Gox pleaded not guilty on Tuesday to charges relating to the loss of hundreds of millions of dollars worth of bitcoins and cash from what was once the world's biggest bitcoin exchange. French national Mark Karpeles filed the plea in response to charges of embezzlement and data manipulation at the Tokyo District Court, according to a pool report for foreign journalists. Mt. Gox once handled 80 percent of the world's bitcoin trades but filed for bankruptcy in 2014 after losing some 850,000 bitcoins - then worth around half a billion U.S. dollars - and $28 million in cash from its bank accounts. In its bankruptcy filing, Tokyo-based Mt. Gox blamed hackers for the lost bitcoins, pointing to a software security flaw. Mt. Gox subsequently said it had found 200,000 of the missing bitcoins. Karpeles was indicted for transferring 341 million yen ($3 million) from a Mt. Gox account holding customer funds to an account in his name during September to December 2013. The prosecution also alleged Karpeles boosted the balance of an account in his name in Mt. Gox's trading system. In its opening statement to the court, Karpeles' defense team did not dispute that the transfers took place, but denied they amounted to embezzlement. Karpeles told the court he was an information technology engineer. "I swear to God that I am innocent," he said in Japanese to the three-judge panel hearing his case, according to the pool report. LICENSED EXCHANGES The collapse of Mt. Gox badly damaged the image of virtual currencies, particularly among risk-averse Japanese investors and corporations. But the bankruptcy also prompted Japan's government to decide how to treat bitcoin, and preceded a push by local regulators to license virtual currency exchanges. Japan this year became the first country to regulate exchanges at the national level, part of a government effort to exploit financial technology as a means of stimulating the economy. Story continues Interest in bitcoin among Japan's legions of individual investors - encouraged by Tokyo's recognition of the virtual currency as legal tender - has spiked in recent months. Still, institutional investors remain wary, say those running virtual currency exchanges in Tokyo. Japanese firms are also unenthusiastic: Only 4 percent of large and mid-sized firms plan to use bitcoin in the near to medium term, showed a Reuters poll last month. The value of bitcoin is highly volatile. It hit a record high of $2,980 last month. Like other virtual currencies, such as Ethereum and Ripple, bitcoin has no central authority and relies instead on thousands of computers across the world that validate transactions and add new units to the system - technology known as blockchain. Bitcoin can be traded on exchanges in the same manner as stocks and bonds. It has also become a mode of payment for some retailers, and a way to transfer funds without the need for a third party. (Reporting by Thomas Wilson; Editing by Christopher Cushing) || 6 Most Important Things in Business Now: Shares of once hot Snap Inc. (SNAP), operator of Snapchat, fell back to $17, its IPO price. Anxiety about user growth and engagement have hurt the company's ability to bring in advertising and marketing revenue. Snapchat also has several growing competitors, led by Facebook Inc.'s (FB) Instagram.
Sales at Kroger Co. (KR) fell well short of expectations and its shares dropped over 14%. There is a deep concern among shareholders that the growth of Wal-Mart Stores Inc. (WMT) and Amazon.com Inc.'s (AMZN) grocery business will make Kroger's store system difficult to support.
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Office messaging software app company Slack may raise as much as $500 million at a $5 billion valuation.
After a tremendous run up, Bitcoin valuations have collapsed. According to Bloomberg:
Bitcoin sank as much as 19 percent, putting the digital currency on pace for its worst week since January 2015, as volatility climbs following a record-setting surge in the price.
After flirting with $3,000 on Monday, the cryptocurrency has retreated to as low as $2,076.16 in intraday trading. Other digital coins are also falling. The decline coincides with a slide in technology stocks that began after a report from Goldman Sachs Group Inc. warned that low volatility in the biggest tech stocks may be blinding investors to risks like cyclicality and regulation.
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And those big tech stocks continue to sell off. Apple Inc. (AAPL), Amazon, Alphabet Inc. (GOOGL), Facebook and Microsoft Corp. (MSFT) have lost over $100 billion in combined market cap in less than two weeks.
The endless restructuring of Greek debt hit a roadblock as the International Monetary Fund, which usually participates in new loans and refinancing. said it would hesitate to take on more Greek sovereign paper. Managing Director Christine Lagarde told CNBC:
For us to engage and for us to participate financially, more needs to be clarified, defined and approved in terms of restructuring. What we believe will be needed is a deferral of interests, an extension of maturity, and a mechanism by which there is an adjustment based on growth ... this is where further discussion and negotiation is needed.
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[Random Sample of Social Media Buzz (last 60 days)]
One Bitcoin now worth $2713.48@bitstamp. High $2740.00. Low $2594.61. Market Cap $44.512 Billion #bitcoin pic.twitter.com/tky8nwa3Dm || #NowPlaying Jorge Gamboa - El nuevo rey #BTC 1PwAWAiHqKzHP82yDS1UEuZz4E6VYpHgbB || 1 Bitcoin 2.500.00 $ ise dolar gümlemez mi, Amerika batmaz mı ? || @Bitstamp YESTERDAY 1 BITCOIN = $2,255.00; TODAY, 1 #BITCOIN = $2,400.00+!!! GET STARTED #EARN #BITCOINS 3 WAYS: https://www.gladiacoin.com/BitcoinGladia pic.twitter.com/OeH98Rlld3 || $2712.79 at 04:15 UTC [24h Range: $2611.39 - $2801.00 Volume: 16752 BTC] || #Bitcoin -0.43%
Ultima: R$ 8860.20 Alta: R$ 9041.00 Baixa: R$ 8805.00
Fonte: Foxbit || One Bitcoin now worth $2044.54@bitstamp. High $2099.00. Low $1850.93. Market Cap $33.636 Billion #bitcoin || #NowPlaying Grupo Escolta - 38 En La Cintura #BTC 1PwAWAiHqKzHP82yDS1UEuZz4E6VYpHgbB || #MedievalEmpires THE GAME Give You $ FREE! Earn #Bitcoin : https://medieval-empires.online/?ref=2569 ... http://ow.ly/OYyT50caxC9 || 1 #BTC (#Bitcoin) quotes:
$2516.04/$2521.89 #Bitstamp
$2457.73/$2460.59 #BTCe
⇢$-64.16/$-55.45
$2486.00/$2513.83 #Coinbase
⇢$-35.89/$-2.21
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Trend: no change || Prices: 2730.40, 2754.86, 2576.48, 2529.45, 2671.78, 2809.01, 2726.45, 2757.18, 2875.34, 2718.26
|
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]
Not fully available.
[Random Sample of News (last 60 days)]
SEC Chair Gensler doubles down on regulating crypto as securities: Securities and Exchange Commission Chairman Gary Gensler is doubling down on his claim that most cryptocurrencies constitute securities as the administration looks to regulate digital assets.
The chairman continues to stake claim for the agency’s authority and oversight amidst a debate over which financial regulators should oversee crypto.
“Most crypto tokens involve a group of entrepreneurs raising money from the public in anticipation of profits — the hallmark of an investment contract or a security under our jurisdiction,” Gensler said in speech Wednesday on reducing risk and increasing transparency of derivatives at the International Swaps and Derivatives Association Annual Meeting. “Most crypto tokens are investment contracts under the Supreme Court’s Howey Test.”
Gensler said few cryptocurrencies are like digital gold, and therefore commodities, implying that the SEC should have greater jurisdiction over crypto instead of the Commodities Futures Trading Commission, which regulates commodities.
Senator Cynthia Lummis (R, WY), who along with Senator Kirsten Gillibrand (D, NY), is readying comprehensive legislation to regulate cryptocurrencies, believes most cryptocurrencies are commodities, which would put them under the jurisdiction of the CFTC for trading spot markets and futures markets. Though, Lummis said for crypto products that are bundled into securities, they would have the so-called Howey Test, a case law test that helps determine what's a security, which would fall under the SEC.
When it comes to derivatives, Gensler said if a derivative contract called a swap is based on a crypto asset, then it is a security-based swap and subject to SEC registration and oversight. Gensler also said derivative trading platforms — decentralized or centralized – that offer security-based swaps need to register with the Commission.
“It’s important to recognize that if the underlying asset is a security, the derivative must comply with securities regulations,” Gensler said.
The SEC charged app developer Abra nearly two years ago for selling security-based swaps to investors without registering with the SEC and for failing to transact those swaps on a registered national exchange. Gensler warned the SEC could bring more cases.
“Unfortunately, there may be more,” Gensler said. “We will continue to use all of the tools in our enforcement toolkit to ensure that investors are protected in cases like these.”
Gensler’s comments come as crypto markets have swooned with bitcoin (BTC) down more than 50% from its all-time high and a run on stablecoin TerraUSD (UST), which traded as low as 23 cents Wednesday.
Jennifer Schonberger covers cryptocurrencies and policy for Yahoo Finance. Follow her at@Jenniferisms.
• Read the latest financial and business news from Yahoo Finance
Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,LinkedIn, andYouTube || 3 Tech Stocks to Buy as Their Trends Reverse Higher: The market recovery reached two significant milestones Tuesday. First, the S&P 500 closed above its 200-day moving average, officially placing it back on the high side of all major averages. Second, the Nasdaq, which has seen serial underperformance, closed above its 50-day moving average for the first time in over three months. The technical improvements had me scanning for the best tech stocks to buy. I found many noteworthy candidates. Tech stocks have been hit the hardest in recent months, making them a challenging choice for bullish trades. Far better opportunities have beckoned in commodity-related areas like miners and oil stocks. InvestorPlace - Stock Market News, Stock Advice & Trading Tips But with the Nasdaq reclaiming the bullish side of the 50-day, bulls have officially returned, and sentiment seems to be warming to tech. Here are three popular picks that boast reversal patterns worth playing: Microsoft (NASDAQ: MSFT ) Salesforce.com (NYSE: CRM ) Advanced Micro Devices (NASDAQ: AMD ) Two of them have already broken out and completed their bottoming bids. The third is knocking on the door of its resistance break right now. Let’s take a closer look. Tech Stocks to Buy: Microsoft (MSFT) Microsoft (MSFT) stock chart with double bottom breakout Source: The thinkorswim® platform from TD Ameritrade Tech giants are awakening across the sector. But some have run too far to justify new entries. Microsoft isn’t one of them. In fact, with Tuesday’s 1.6% rally, the software giant cleared resistance at the psychologically significant $300 level. It also confirmed a double-bottom pattern while blasting through the 200-day moving average. 7 Cheap Stocks to Buy Now if You Have $100 to Spend This is the best MSFT stock has looked this year. It could certainly participate in a market pullback, but I suspect we’ll form a higher pivot low to match the higher high we just developed. To create higher odds of success, I’m going with a short put spread as my play of choice here. The Trade : Sell the 22 April $280/$275 bull put spread for 60 cents. Story continues It’s a bet that MSFT stock will be above $280 at expiration. Salesforce.com (CRM) Salesforce.com (CRM) stock chart with double bottom breakout Source: The thinkorswim® platform from TD Ameritrade As a Saas company lumped in with growth stocks, Salesforce.com has participated fully in the market’s unraveling. From peak to trough, the leading cloud company tumbled 41%. Fortunately, the past month has seen promising price action. Indeed, CRM stock has mirrored MSFT to a certain extent. Two old resistance pivots have given way, and prices just took out the 50-day moving average. Rather than sell-off aggressively like the last half a dozen bounce attempts, CRM stock has held firm. At the same time, we’ve seen a pair of booming bars on the volume study to suggest institutional accumulation. Once again, I’m favoring the higher probability route of selling puts spreads over buying calls. The Trade : Sell the April $200/$195 bull put for 60 cents. Tech Stocks to Buy: Advanced Micro Devices (AMD) Advanced Micro Devices (AMD) stock chart with bullish breakout imminent. Source: The thinkorswim® platform from TD Ameritrade Today’s final admission for tech stocks to buy is a semiconductor darling. Advanced Micro Devices stuck the landing at $100 three times and has rallied back to test its descending 50-day moving average. Last week, Nvidia (NASDAQ: NVDA ) sailed through its 50-day and fully reversed into an uptrend. I think AMD stock will follow suit. 7 Recession-Proof Stocks for Nervous Investors to Buy in 2022 The past two trading sessions saw resistance at $118, so that’s the level we need to rise above to trigger today’s idea. One benefit to the recent consolidation is it gives the stock plenty of gas in the tank for follow-through if it can breakout. Consider $133 the next stop. To offer variety to the previous two put spreads, let’s go with a more directional call spread. The Trade : Buy the May $120/$130 bull call spread for around $3.30. You’re risking $3.30 to make $6.70 if AMD sits above $130 at expiration. On the date of publication, Tyler Craig was long AMD. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . More From InvestorPlace Get in Now on Tiny $3 ‘Forever Battery’ Stock It doesn’t matter if you have $500 in savings or $5 million. Do this now. Stock Prodigy Who Found NIO at $2… Says Buy THIS Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” The post 3 Tech Stocks to Buy as Their Trends Reverse Higher appeared first on InvestorPlace . || Silver Price Prediction – Silver prices slid sharply as the dollar rises: • Silver prices fall as yields surged.
• Treasury yields climb to the highest levels since 2018.
• Oil prices tumbled amid stronger dollar and demand concerns in China.
Silverpricespull back sharply as yields and the dollar extend gains. The dollar rose against other major currencies. Benchmark yields continue to soar due to growing concerns about spiraling inflation and slower economic growth.The ten-year treasury yield rallied to 3.185% in the wake of the Fed tightening rates.
Gold prices fall as the dollar strengthens. Oil prices were weighed down by a stronger dollar and demand concerns amid China’s lockdowns. A pledge by the G7 nations to ban or phase out Russian oil followed the EU’s proposal for phased sanctions on Russian oil.
US wholesale inventories increased by 2.3% in March compared to the previous month, which was in line with economists’ expectations. Wholesale inventories increased 22% year-over-year. Inventories are a part of gross domestic product and go into the GDP calculation.
Inflation data that will be released on Wednesday will likely signal the size of the Fed’s next move.
Silver prices fell to their year-to-date low below the $22 level. A sustained break below the $22 mark will signal further downside and selling pressure for XAG/USD. Silver may test the December low near $21.40. below the $23.00 level despite the Fed’s less aggressive monetary policy.
Despite that ruling out a 75-basis point hike removed greater downside to precious metals, the Fed’s goal to reduce inflation weighs on silver prices.
Support is seen near the February 3rd low of $22.0. Resistance is seen near the 10-day moving average of 23.77. Short-term momentum is negative as the fast stochastic had a crossover sell signal.
The medium-term momentum turned negative as the histogram prints negatively with the MACD (moving average convergence divergence). The trajectory of theMACDhistogram is in negative territory, which reflects the downward trend in price movement.
Thisarticlewas originally posted on FX Empire
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• Microsoft to help cover U.S. employees’ travel costs for abortion || 7 of the Top EV Stocks from the DRIV ETF: • Tesla(TSLA): The king of EV stocks in the United States is well positioned to benefit from the sector’s growth.
• Honeywell(HON): Honeywell’s alternative to chlorofluorocarbons helps EVs keep cool in a greener way.
• General Motors(GM): GM is “on its way to an all-electric future” and has the strength to back it up.
• Ford Motor Company(F): The more to make EVs their own division shows Ford’s commitment.
• Nividia(NVDA): Chip stocks are slowing down but NVDA is trying to help drive the intelligent car revolution.
• Qualcomm(QCOM): Qualcomm remains devoted to its automotive aspirations through its driver assist system.
• Apple(AAPL): Even if the Apple Car never makes its debut, AAPL is still a strong stock to buy.
Source: nrqemi / Shutterstock.com
Much attention has been devoted toelectric vehicles(EV), how many problems they solve and how much fun they are to drive. They take a lot of engineering; research and development; and investment of time and money. And to support those cars, whole industries have sprung up. New EV stocks have arrived and some established companies have joined the EV revolution.
This is happening for many reasons, including global warming, technological advances, and the obvious disadvantages in relying on a dwindling asset — fossil fuel — to make an auto run. But whatever the reasons, the future is clear: the industry will continue to grow.
How big could this transformation be?One report, issued by PolicyAdvice.net, says there were more than 5.6 million EV’s as of last August, up 64% from 3.4 million in 2018. Very big indeed. It quotes other studies saying there were only 1 million registered EVs in the U.S. in 2018; by 2030, there will be approximately 4 million just in California.
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Another report, released by International Energy Agency in April, 2021, states that EV registrations globally were up byover 40%in 2020, but they don’t even make up 5% of new sold cars. This leaves a lotof room for growth.
This is not to say that you have to invest directly in electric car makers to benefit from this growth. Companies making computer chips, batteries, special materials, and many other items needed by EVs can get in on the action.
TheGlobal X Autonomous & Electric Vehicles ETF(NASDAQ:DRIV) give investors broad exposure to EV stocks. This should be lower-risk than only holding EV makers.
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Following, are some interesting EV stocks in DRIV; according to your risk profile, you may find some to bestocks to buy.
Source: franz12 / Shutterstock.com
Tesla(NASDAQ:TSLA) is dedicated to designing, developing and manufacturing EVs, batteries, solar roofs and panels, and other products. And as mentioned, it’s a king among EV stocks.
And no wonder. According toInsideEVs, Tesla sold themost battery EVsand plug-in electric vehicles in the world in 2020; TSLA sold 23% of the world’s purely electric EVs and 16% of the plug-in hybrids.
The company also produces storage products for homes and commercial use and is one of the largest suppliers of battery-based energystorage systems in the world. It’s well positioned to benefit from the expected growth in the market.
TSLA is expected to report earnings for Q1 2022 on April 19 and, according to Tipranks.com, the consensus forecast is $2.26 per share; last year in the same quarter the company earned 93 cents per share. That is agood number for TSLA.
Source: josefkubes / Shutterstock.com
Honeywell(NASDAQ:HON) is not often thought of as a technology company, nor among the EV stocks, but itisin the DRIV portfolio for reasons. HON has developed “Solstice” product line, which are fluorine products and are alternatives to chlorofluorocarbons; Chlorofluorocarbons are harmful and contribute to the ozone layer. HON literature states that “Those molecules are found in common products such as car and home airconditioners, aerosols and refrigerators.”
It’s a cleaner way for EVs to cool not only their drivers and passengers, but also many of thetechnological piecesneeded to make EVs run.
They state that they understand complex industrial facilities and create high-quality chemicals and materials — and have beendoing it for over 100 years. That’s a reliable company.
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TipRanks analysts currently rates HON stock as a buy with a target price of over $221 — an increase of 15% from its current price.
Source: ehrlif / Shutterstock.com
General Motors(NYSE:GM) announced that it is “on its way to anall-electric future, with a commitment to 30 new global electric vehicles by 2025.” The company claims that it is positioned to make EV’s for every style and price and is “rapidly building a competitive advantage in batteries, software, vehicle integration, manufacturing and customer experience.”
The company’s stock is reasonably priced. Morningstar shows a price/forward earnings of 5.75 and a price/earnings to growth ratio of 1.38, which is reasonable,even though its earnings will be down.
TipRanks.com states that GM will report Q1 2022 earnings on April 25, and that it will report $1.67 per share; last year’ssame quarter was $2.25.
For its long history and growing participation in the EV future, GM could be considered as a stock to buy.
Source: JuliusKielaitis / Shutterstock.com
Ford Motor Company(NYSE:F) threw itself into the center of the EV discussion when it announced earlier this year that it willdivide its business operationsinto two divisions: the internal-combustion-engine business which will be called Ford Blue; and the electric car division under the Ford Model e name. Both of these will fall under the Ford Motor Company operations umbrella.
NPR.org announced that “Ford has seen strong demand for its electric offerings, like the F-150 Lightning and Mustang Mach E.” However, the company also continues to make big profits off of its gas-powered vehicles — especially its large trucks — and doesn’t want to eliminate those just yet.
The company has committed to massively increase its electric vehicle production. Ford says it will build more than 2 million electric vehicles annually by 2026. If it accomplishes that goal, then its EV sales will encompass a full third of the company’s global output.
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TipRanks analysts have Ford rated as a buy, with upside of over 30% to their average price target of $21.
Source: rafapress / Shutterstock.com
Nividia(NASDAQ:NVDA) makes graphics processing units, which are most widely known for aiding with computer graphics. But they can do a lot more — and can be considered among the top EV stocks.
And when it comes to EVs, Nvidia is partnering with many of the biggest names in the business to make sure the future of EVs isintelligent vehicles. NVDA helps those vehicles “be completely programmable with software-driven business models.”
It can also help cars be safer and more efficient.
TipRanks.com reports that for the first quarter of 2023, theconsensus forecast earnings per share is $1.30versus the same quarter last year of 92 cents. This number is based on the ratings of 27 analysts.
The stock has been selling off recently because ofweaknessin the chip sector, however. William Stein, analyst at Truist Financial, predicts a decline in demand in the semiconductor industry. So make sure you understand broader risks in the sector before investing.
Source: photobyphm / Shutterstock.com
Qualcomm(NASDAQ:QCOM) offers its Qualcomm Snapdragon 5G Mobile Platforms that features a solution for 5G multimode devices. All of the components of their platforms work together to deliver high speeds, superior coverage, and outstandingefficiency, the company stated.
But perhaps of the most interest to anyone reading this article, Qualcomm’s Snapdragon is integrated into the workings of a number of EVs.
The company recently announced it completed its acquisition of Arriver, and believes that it will enhance its ability to ability to deliver open, fully integrated, and competitive Advanced Driver Assistance System (ADAS) solutions to automakers and Tier-1 suppliers at scale. This platform is already set to goin EVs, and with the sector expected to grown, so should demand for the ADAS.
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Qualcomm is devoted to these automotive efforts. Nakul Duggal, senior vice president and GM, automotive, Qualcomm Technologies said, “We remain committed to offering advanced solutions for all vehicle tiers and levels and with Arriver’s Driver Assistance assetsnow part of the Snapdragon Ride™ Platform.”
Source: Vytautas Kielaitis / Shutterstock.com
Apple(NASDAQ:AAPL) is very successful, and many analysts have buy ratings on the stock. This is due to the popularity of its products, its brand strength, and its management performance.
But should you buy their stock now?
If you have a long-time horizon, you understand and expect volatility, and can hold through downturns in the market, then yes. AAPL is a quality stock and it has enough product out there that its cash flow should be solid for the foreseeable future.
As for why it’s on the list and in the DRIV ETF? One prime reason could be the rumors of an Apple Car. While nothing has been confirmed yet, expectations are they Apple is working on a self-driving EV for 2025 or later.
But remember — that’s a rumor, and Apple is a mature company. The risk is that its growth may not match some other companies that you might buy.
The valuation bothers me here, also. Morningstar shows AAPL’sPEG ratiosoaring in recent years, though the current ratio has pulled back to 3.19. That’s not to say this ratio for AAPL is not unjustified. I’m just saying AAPL stock might not be a bargain here.
TipRanks.com reports that AAPL is expected to report earnings on April 27. For the second quarter period ending 2022, the consensus expected earnings per share is $1.43; the same quarter last year,the company earned $1.40.
On the date of publication, Max Isaacman 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 post7 of the Top EV Stocks from the DRIV ETFappeared first onInvestorPlace. || 7 Food Stocks to Buy as Shortages Impose Huge Pressures: General Mills (NYSE: GIS ): Several of the companys brands have a long shelf life, enabling bulk purchases. Costco (NASDAQ: COST ): Thought not exclusively a food play, the warehouse chains customers are relatively affluent. Conagra Brands (NYSE: CAG ): A consumer packaged goods firm, Conagra should benefit from demand of necessity. Mondelez International (NASDAQ: MDLZ ): A leading snacks manufacturer, everyone could use a little treat now and then. Kellogg Company (NYSE: K ): The blue-chip food company has the resources to succeed with plant-based meat. Tyson Foods (NYSE: TSN ): One of the biggest food stocks in real proteins, Tyson remains relevant despite meatless push. J. M. Smucker (NYSE: SJM ): Offering a combo of breakfast favorites and pet food, SJM covers a wide area. Just as the U.S. and the rest of the world was coming to terms with the coronavirus pandemic, massive inflation greatly impeded consumer sentiment. If that wasnt enough, Russias dangerous decision to attack neighboring Ukraine completely disrupted the modern global order, skyrocketing prices across the board. Still, if theres one solid mechanism for an investor to mitigate this crisis upon a crisis, its through food stocks. Its a terribly cynical idea but in times of turmoil and shortages, cynical investments can often be the most profitable. Whats so great about food stocks to buy? Simply, its the one sector that people cannot afford to skimp out on. Sure, the miracle of the human body means that its theoretically possible for someone to go without food for up to two months. I wouldnt try it though. Weakness will set in, preventing you from properly functioning. And starvation as you might imagine has over time a 0% survivability rate . InvestorPlace - Stock Market News, Stock Advice & Trading Tips Therefore, consumers will dump all the discretionary spending categories the nice clothes, the nights out on town, maybe even cut their streaming subscriptions down to one or two before they even think about cutting the essentials. Story continues 7 Blue-Chip Stocks With Dividends to Add to Your Buy List So, when in doubt, go with food stocks, particularly these seven, the majority of which are among the 31 stocks that make up the Invesco Dynamic Food & Beverage ETF (NYSEARCA: PBJ ). That exchange-traded fund is up 2.28% year-t0-date. GIS General Mills $67.94 COST Costco $576.47 CAG Conagra Brands $33.40 MDLZ Mondelez International $62.75 K Kellogg Company $64.07 TSN Tyson Foods $88.71 SJM J. M. Smucker Company $134.88 Food Stocks to Buy: General Mills (GIS) General Mills (GIS) Cereal Source: designs by Jack / Shutterstock.com Stocks like General Mills dont have a sell-by date. That came to mind during my February interview with CGTN America. I mentioned then the pernicious nature of inflation , which is that under a backdrop of constantly rising prices, whoever spends the money first wins and whoever saves the money loses. Under normal circumstances, it really should be the other way around, which is why inflation is problematic in more ways than one. However, such topsy-turvy thinking means that shrewd consumers can beat rising costs or at least mitigate their pain through bulk purchases. Well, for food stocks tied to perishable goods, such behaviors might not pan out favorably. However, General Mills doesnt really have that problem. Largely specializing in packaged products, GIS brands typically have a very long shelf life. But will inflation really change societal attitudes toward food stocks? According to the evidence, yes. Earlier this year, a survey revealed that a whopping 80% of consumers expect to change their shopping habits if rising costs persist. Theyre persisting, making GIS stock one of the most intriguing food stocks to buy. The share price is up 1.58% YTD. Costco (COST) A Costco Wholesale (COST) warehouse in Auburn Hills, Michigan. Source: ilzesgimene / Shutterstock.com Although Costco isnt an exclusive play among food stocks, its one of the most important at this juncture. As you know, inflation disproportionately hurts lower-income households because these folks must spend a higher portion of their earnings toward necessary goods and services that have spiked upward. In contrast, its possible that higher-income households could benefit from inflation. How could high wage earners gain from rising costs, though? While rising costs hurt everyone, wealthier individuals could redirect disposable income toward investments that can grow with the surging costs. Thus, the appreciation of their investments could mean that some folks come out ahead. Using this logic, those seeking shelter in food stocks should take a look at Costco. Per a Business Insider article, the average Costco customer is a 39-year-old Asian American woman whos married and earns $125,000 . If you really want to read between the lines, the gender pay gap suggests that Costco shopping households may earn considerably more. 7 Retail Stocks Worth a Buy Now COST stock is up 1.7% YTD as compared to a 1.46% gain in the Consumer Staples Select Sector SPDR Fund (NYSEARCA: XLP ). Costco is the second-largest holding (10.83%) in that exchange-traded funds 33-stock portfolio. Bottom line: when inflation strikes, stick with the rich. Food Stocks to Buy: Conagra Brands (CAG) Conagra (CAG) logo on a sign outside of a corporate campus Source: Jonathan Weiss / Shutterstock.com While food stocks during inflationary cycles feature a cynical air about them, Conagra Brands might particularly benefit from said cynicism. As a consumer-packaged goods firm, Conagra touches virtually every aspect of the food retail industry, from supermarkets, restaurants and service establishments. For starters, the company will likely see its revenues increase from its grocery arm. As we saw during the worst of the Covid-19 crisis, severe supply chain disruptions translated into hoarding behavior among many individuals. Were still suffering from supply chain-related challenges so more money may be spent on desirable items. Plus, people will find preparing their own food much cheaper than eating out. But even the restaurant business might see some demand increases, which leads to my second point. At first, consumers may consolidate their discretionary purchases to areas that can stack value. For example, its better to spend $100 at a restaurant than it is at a nightclub. With the former, you can at least enjoy some leftovers. CAG stock is down 4.49% so far in 2022. Mondelez (MDLZ) The Mondelez website magnified by a magnifying glass Source: Shutterstock During times of economic challenges, analysts will often cite Coca-Cola (NYSE: KO ) as a recession-resistant investment . The reason? Beyond providing a dividend and commanding healthy cash levels, Coca-Cola provides a cheap respite from the daily grind. While its obviously not the healthiest beverage, a can of the iconic sugary cola provides an immediate pick-me-up. By the same logic, Mondelez is one of the more intriguing food stocks to buy. A leading snacks manufacturer, Mondelezs brands reach more than 150 countries, delighting consumers the world over. Some of the companys most popular products include Chips Ahoy, Oreo, Ritz and Triscuit. As well, Mondelez owns the Cadbury brand of chocolate candies, very appropriate for the upcoming Easter holiday. 7 Blue-Chip Stocks With Dividends to Add to Your Buy List If theres another reason to consider MDLZ, its that chocolate may have a perceived benefit toward stress reduction . Given that inflation causes stress for everyone, this security is one of the most effective (though again cynical) food stocks available. MDLZ stock is down 3.63% YTD versus the 1.46% rise by ETF XLP. Mondelez is the eighth-largest holding (4.37%) in consumer staples equities portfolio. Food Stocks to Buy: Kellogg Company (K) Kellogg's sign on their Canada's head office building in Mississauga Source: JHVEPhoto / Shutterstock.com As with General Mills earlier, Kelloggs is an iconic company that specializes in many popular consumer packaged goods. Since inflation expectation data suggests that regular folks largely anticipate prices to continue moving higher, Kelloggs could enjoy bulk demand. After all, if prices are going to keep rising, theres really no point in saving the dollars that youre going to spend anyways on necessary goods and services. Therefore, many of Kelloggs brands could see a demand spike from this pivot in sentiment. But theres also another reason to consider K stock among your top food stock and thats the underlying companys investments in plant-based meats. Surveys suggest that young consumers are likely to be repeat purchasers of plant-based foods. . However, fake meat-only companies have suffered sizable losses probably because of the inability to scale the business. But Kelloggs has the resources to support its initiatives like Incogmeato. Over time, plant-based meats could be a massive winner, driving up K stock. Tyson Foods (TSN) Source: Shutterstock Although enthusiasm for the burgeoning fake-meat industry makes a compelling case for certain food stocks like Tyson Foods, its difficult to know for sure how the demand trajectory will play out. Primarily, the plant-based protein revolution didnt start a few years ago as the mainstream marketing machinery might suggest. As a New York Times article mentioned, the current movement has roots in the 1970s. But this begs the obvious question: if plant-based alternatives were around in some form during the 70s, how come sustainable food stocks (or at least the idea of food sustainability) didnt become popular until recently? Perhaps the taste of alternative food products just werent appetizing as they are today. Still, it does raise the concern that people will prefer the real deal, which brings us to Tyson. 7 Retail Stocks Worth a Buy Now A leading producer of animal-based proteins, Tyson probably wont earn ESG awards anytime soon. However, it will fill critical demand. In addition, a full-scale pivot toward plant-based meats wont happen overnight, if it happens at all. Therefore, TSN stock still commands relevance, for better or for worse. Food Stocks to Buy: J.M. Smucker (SJM) company sign outside smucker's headquarters SJM stock Source: JHVEPhoto / Shutterstock.com Last but definitely not least, we have J.M. Smucker (NYSE: SJM ). Well known for its breakfast favorites, Smuckers is really a multi-pronged weapon among food stocks. First, breakfast being the most important meal of the day, SJM owns several desirable brands. In addition to its namesake products, the company also owns recognizable offerings such as Jif, Knotts Berry Farm and Laura Scudders. As well, it specializes in coffee products, such as Folgers, Dunkin and Cafe Bustelo, which coffee blog Art of Barista describes as one of those rare coffee brands that have sustained consumer interest. But the real kicker for SJM is its pet food and snacks division. As you know, Americans love their pets , often treating them like human family members. Unfortunately, even Fido is hurting from inflation and global supply chain disruptions, resulting in widespread shortages of pet food . Unless circumstances become dishearteningly desperate, its likely that pet parents will simply pay up. Yeah, maybe thats the most cynical thought but it might serve SJM stock exceptionally well. 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 Get in Now on Tiny $3 Forever Battery Stock It doesnt matter if you have $500 in savings or $5 million. Do this now. Stock Prodigy Who Found NIO at $2
Says Buy THIS Early Bitcoin Millionaire Reveals His Next Big Crypto Trade On Air The post 7 Food Stocks to Buy as Shortages Impose Huge Pressures appeared first on InvestorPlace . || Mexicans Can Now Pay in Bitcoin for On-Demand Food and Goods: Key Insights: Colombian delivery app Rappi has begun accepting crypto payments in Mexico. Rappi joins Bitpay and Bitso to accept cryptos. Customers can get crypto credits through the app and redeem them later. Colombian-based food and goods on-demand delivery app Rappi, which operates throughout Latin America, is now accepting crypto payments in Mexico. Cryptos Turned to Credits Per a report on Monday, Rappi will partner with crypto services platforms Bitpay and Bitso to accept crypto payments. The delivery company did not mention the exact cryptos it is planning to accept; however, it is likely that Bitcoin is on the list. Additionally, Rappi will provide crypto credits to customers through the app, which they can redeem later. Sebastian Mejia, Co-founder & President at Rappi, said in a statement, “We are studying the crypto world with interest and believe that the future is the intersection of the crypto world with non-crypto companies. It’s a first step that will allow us to learn and continue incorporating the crypto world into Rappi.” Rappi offers delivery services in 9 Latin countries and also provides financial services in Mexico, Brazil, Chile, and Peru. The company is planning to provide digital banking in Colombia later this year. In 2021, the company launched ‘Pay with Rappi’ in Mexico, a project that allows online payments through the PayPal platform, challenging its regional rivals Mercado-Libre and Uber. Latin America Turning Crypto Curious The crypto industry has been consistent and growing in leaps and bounds, including its underlying blockchain technology, in Latin America. The trend in crypto transactions and payments has been rising in the region, mainly because it is fast and offers low transfer rates. When it comes to regulations concerning cryptocurrencies, Brazil, Venezuela, Argentina, and Chile have approved the use of cryptocurrency. Brazil and Argentina both have income tax weighed upon all cryptocurrencies. In 2014, Ecuador and Bolivia placed a ban on cryptocurrency and its circulation within their borders. The outright ban ensured that all currencies not regulated by the Government were deemed illegal. It is also interesting to note that according to stats, the region with the most crypto users in the world is Latin American countries. One main reason is the perks given by commercial and digital stores accepting crypto payments. For instance, Elektra, a Mexican conglomerate, recently announced that customers who use cryptos for payments would get a 20 percent discount on the purchase of products. Story continues This article was originally posted on FX Empire More From FXEMPIRE: Australian Dollar Recovered During Tuesday’s Session World’s Largest Courier Company, UPS Plans on Entering the Metaverse Gold Markets Pierce the Top of the Previous Daily Range The Euro Bounces Ever So Slightly E-mini S&P Could Pick Up Late Session Strength Over 4447.25 Chevron Is Up By 3%, Here Is Why View comments || Costco Still Delivers Sustainable Profits Despite the Inflationary Crisis: Costco Wholesale(NASDAQ:COST) is a leading chain of club membership stores. The company is famous for its unique business model, where it sells large numbers of items in bulk at low profit margins. By contrast, it instead makes much of its money through its yearly membership program where people pay to get to shop at Costco. This has been a winning model for COST stock, which is up 237% over the past five years.
Source: ilzesgimene / Shutterstock.com
However, there are some skeptics starting to emerge. Just since Covid-19 began, the price of COST stock surged from $300 per share to $560 today. Some analysts see that as too far, too fast. Surely, there will be slowing momentum at some point as the pandemic-driven sales roll off and things return more toward normal.
That’s a logical and sensible theory. However, there’s little actual evidence of it playing out in practice. Costco is still posting stunning double-digit sales growth numbers now two years removed from the onset of the pandemic. The predicted reopening slowdown simply hasn’t happened.
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It’s no secret that Costco has a well-trained, well-paid labor force as far as the retail sector goes. Costco’s minimum wage is$17 per hour, a figure that it just raised once again last fall. That’s the minimum here, not the average or median. The average wage, at least in 2021, was closer to $24 per hour, as per the company’s CEO.
Costco also has a variety of unique perks that are uncommon in retail. For example, it pays time-and-a-half to hourly workers for shifts on Sundays. This means that if a Costco employee normally earns $20 per hour, he or she would earn $30 per hour for their Sunday schedules. Costco also allows all its employees, even part-time ones, to have access to health benefits.
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It doesn’t stop there. Employees get free Costco memberships, discounts on Costco services, features such as Costco’s auto insurance program with free roadside assistance and so on. Combine all these perks with the $17 per hour minimum wage, and employees can make a real living at Costco as opposed to what they might find at most other retailers. Add these factors together, and Costco is one of the few retailers to regularly makeGlassdoor’s100 Best Places to Work list year in and year out.
In a normal economy, maybe this happy well-treated labor force doesn’t seem like a big deal. Nowadays, however, with labor shortages and rapidly-escalating wage spirals, many retailers are having to curtail hours or otherwise cut back due to employee shortages. Costco, however, by playing the long game and maintaining a happy workforce has now put itself in a superior position for handling this current inflationary environment.
Another big advantage for Costco is that customers know that it doesn’t play games with its product pricing. Costco has a well-known policy of charging a certain low gross profit margin, such as 15%, on goods that it sells.
In doing so, it isn’t try to nickel and dime people by selling some goods at low prices and other ones at fat markups. That is a decided shift away from the usual grocery store model, which is built around discounting some goods and then making large profits on other impulse buys. Costco has that trust that it sells things at fair prices and isn’t ever going to rip the customer off.
That’s useful in any economic climate. It’s particularly crucial now, however, as inflation is ripping through the food aisles. The price of meats, dairy products, grains, and vegetables, among other goods, have soared over the past 12 months. The price of wheat in particular has soared since the Ukrainian war began, leading to further stress on the food supply chain and thus grocery store prices.
With the prices of basic food stuffs surging 20%, 30%, and sometimes even more over the past year, consumers are getting upset and worried. It’s hard to know who is to blame. Is it monopolies such as themeat industrydriving up prices, as the Biden administration contends? Are packaged foods makers raising prices too quickly to fatten their wallets? And are grocery stores adding to their mark-ups as well?
Given all that skepticism, Costco’s transparent and trustworthy stance on product pricing is more valuable than ever. A shopper knows they’re going to get a fair deal buying at Costco. Prices may be up sharply even at Costco, but it isn’t due to corporate greed on the part of Costco’s operations.
During the pre-pandemic era, you sometimes saw analysts poking fun at Costco. If only they raised prices a little more, they could really drive up earnings. Or what if they offered compensation packages more in line with grocery store peers instead of paying so much to their workers? It was easy to imagine a leaner more efficient Costco back in 2018 or so.
However, Costco’s approach in regard to going the extra mile for both employees and customers is bearing fruit now. Costco is a rare retailer that is deeply respected by both its workforce and its customers. In times as volatile as these, that trust is worth more than most investors may realize.
Sure, COST stock is expensive on traditional valuation metrics. If you’re waiting for a bargain purchase, this isn’t the right time as far as Costco goes.
However, the company’s brand and market positioning is stronger than ever, as its sales data over the past two years has proven. And in a world increasingly struggling with inflation, labor shortages, and supply chain snags, Costco is a solid defensive play that can endure whatever geopolitical issues may come its way.
On the date of publication, Ian Bezek 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 postCostco Still Delivers Sustainable Profits Despite the Inflationary Crisisappeared first onInvestorPlace. || First Mover Americas: Bitcoin Holds $40K, Yuan Drop May Add to Risk Aversion: 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.Here’s what’s happening this morning:
• Market Moves:Sliding yuan may add to risk aversion, bringing additional selling pressure to asset prices, including bitcoin. Ether options look cheap.
• Chartist's Corner: Bitcoin's three-day chart leans bearish.
And check out theCoinDesk TVshow “First Mover,” hosted by Christine Lee, Emily Parker and Lawrence Lewitinn at 9:00 a.m. U.S. Eastern time.
• Kevin O'Leary, chairman of O'Shares ETFs and "Shark Tank" co-host
• Cheyenne Ligon, U.S. regulatory reporter, CoinDesk
• Lily Zhang, chief financial officer, Huobi
By Omkar Godbole
Bitcoin (BTC) traded flat asweakness in the Chinese yuanthreatened to add to risk-off sentiment in global financial markets.
The top cryptocurrency by market value changed hands above $40,000, having suffered a 2% drop to the psychological support on Thursday afterhawkish commentsfrom Federal Reserve Chair Jerome Powell sent stocks lower.
The yuan (CNY) fell to 6.5050 per U.S. dollar, the lowest level since July 2021 and was on the way to end the week with a 2.5% loss. That's the biggest single-week percentage decline since August 2015, according to data source TradingView.
"Check out the Chinese yuan in recent days. Weakening quickly. Lockdowns, slower GDP growth, and the currency of its nearest competitor Japan collapsing. A fast-weakening yuan is a risk-off signal," Jeroen Blokland, founder and research head at investment research platform True Insights,tweeted.
According to some observers, including Crescat Capital's portfolio manager Otavio Costa, the yuancould continueto slide as China is facing a major economic downturn and needs to severely devalue its currency.
Previous episodes of yuan devaluationinjected significant volatilityinto traditional markets. For instance, the S&P 500 fell 6.2% in August 2015, hitting a 10-month low as the yuan depreciated by 2.5%. Stocks faced similar turbulence during three months to January 2016 as the yuan's depreciation gathered pace.
Bitcoin'sstrengthening correlationto stocks makes it vulnerable to a yuan-induced shake-off on Wall Street. At press time, futures tied to the S&P 500 pointed to a negative open. The index fell nearly 1.5% on Thursday.
Historically, before 2020, bitcoin hasput ina positive performance during bouts of yuan weakness. Perhaps, Chinese investors diversified into bitcoin to hedge against fiat currency volatility. However, they may have a tough time doing so today, givenChina has banned bitcoin.
Retail interest in bitcoin is dwindling
Data from Google Trends shows search value for worldwide query bitcoin has dropped to 17, the lowest since mid-2020, having peaked above 70 a year ago.
Google Trends is a widely used tool to gauge general or retail interest in trending topics. A value of 100 represents peak retail interest often observed at market tops.
The latest low reading suggests the general population has lost interest and is no longer scanning the web for information about the top cryptocurrency.
Perhaps, retail froth has left, leaving the market in a much healthier state. Read the full story by CoinDesk's Shaurya Malwahere.
Ether options look cheap
Traders find ether options – derivative contracts offering upside and downside protection – cheap in the current low implied volatility environment.
"In my opinion, it makes sense to buy options [call and put] given volatility is low," Samneet Chepal, quantitative analyst at the digital asset investment firm LedgerPrime told CoinDesk in a Telegram chat. "The IV is quite cheap largely due to the choppy market action, which results in traders being more complacent in selling vol plus the impact of systematic selling from the DeFi option vaults." Read the full storyhere.
• Crypto Traders Find Ether Options Attractive as 'Implied Volatility' Slides
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• Retail Interest in Bitcoin is Dwindling, Google Data Suggests
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• India Needs a Single Crypto Regulator, Says Polygon Co-Founder
By Omkar Godbole
The three-day chart leans bearish, with bitcoin facing rejection at theIchimoku Cloudresistance and theMACD histogramcrossing bearish.
The trend line connecting Jan. 22 and Feb. 24 lows could offer support around $37,200. The recent high of $43,000 is the level to beat for the bulls.
Today’s newsletter was edited by Omkar Godbole and produced by Parikshit Mishra and Nelson Wang. || Zenith CEX Announces Massive Airdrop Campaign for Users: Vilnius, Lithuania--(Newsfile Corp. - March 17, 2022) - Zenith CEX by Zenith Chain, a digital peer-to-peer network intending to install a use case-specific blockchain announced a massive airdrop campaign for the users/community. Zenith team is expressing its gratitude to the community members as it prepares for the debut of the Zenith CEX. The details of the Zenith CEX launch airdrop campaign can be foundhere.
Zenith CEX
To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/8203/116824_fd566d8ab4568aea_001full.jpg
The future Zenith CEX will place a premium on security and ease of use for traders, ensuring that both new and experienced traders may benefit from the platform. Zenith CEX requires a two-factor authentication process. This method does not necessitate the use of private keys. As a result, even if a hacker gets access to a user's digital assets, they won't be able to send them. In terms of security, the Zenith CEX is very secure. The fox knot is one of the most secure knots available. Users can lock the app with their biometric fingerprints. Unless users provide permission, no one will be able to access their assets. The CEX already supports Spot, Margin, and Futures trading. The staking pools and IEO sections are also included. BTC, ETH, LTC, XRP, TRX, ATOM, BCH, ETC, BNB, and other coins are included in the test version.
The user interface is clear and easy, with terminology that even a crypto novice might understand. Zenith CEX is a secure and easy-to-use centralised exchange. Apart from the traditional spot and p2p trading, the newly launched CEX would also offer margin trading. Margin trading is available on Zenith CEX for users who want to improve their trading profits. Users will need to deposit a percentage of the total order value to get started. They can choose to sell Long or Short after they've opened the trade.
Zenith CEX: A Trading Platform for Years to Come
Zenithcex is a cutting-edge new-age crypto exchange that offers secure trading. The Zenithcex exchange is a regulated exchange platform that handles critical issues such as security, liquidity, and fiat to crypto and vice versa transactions, among others. With thezenithcex.comtrading software, trade preferred Altcoin, Bitcoin, or Ethereum. The Zenith CEX launched at 6 p.m. GMT on March 10th, 2022.
The Zenith network (ZEN-20) will be integrated into the CEX as soon as the project is launched. This week, the Zenith mainnet will be available on the Zenith CEX. The reason for this is that integration can take anything from two weeks to a month. The CEX will continue to be improved by the development team, therefore this is not the final version. After CEX is released, the team plans to release a new version (CEX with an industry-first user interface) within a month.
A staking pool will be established when the Zenith CEX becomes live. 200,000 $ZENITH is the pool's maximum allotment. This pool will allow each user to bet $ZENITH 20,000. For this pool, the minimum stake is $ZENITH 2,000. For a three-month period, stakes will be locked. Shortly after CEX is released, Zenith Chain will increase the number of validators.
A token deployer is part of Zenith's development ambitions. In less than a minute, anyone will be able to generate their own standard ZEN-20 tokens. Following the creation of the token, the owner can go to Zenith Scan's token website and upload the token code, verify the smart contract, and more. Zenith plans to launch a community token creation campaign soon. After the initial release, Zenith will continue to add capabilities to the deployer.
To know more about Zenith Chain visitwww.zenithchain.co
Twitter:https://twitter.com/zenithchain_coTelegram:https://t.me/zenithchainenglishReddit:https://www.reddit.com/r/zenithchain_co/Medium:https://medium.com/@zenithchainLinkedIn:https://www.linkedin.com/company/zenith-chainFacebook:https://www.facebook.com/groups/zenithchain/Github:https://github.com/Zenith-Chain/
Media Contact:
Contact Person: Monalisa AgbataCompany Name: Zenith Chain UABEmail:[email protected]:www.zenithchain.co
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/116824 || Science and Tech Have Long Sidelined Women and People of Color. Alondra Nelson Is Here to Fix That.: If Alondra Nelson has found the last few months head-spinning, she doesnt let on. I ask if she finds it strange to be sitting here, the round rug near her feet emblazoned with the seal of the Executive Office of the President. A little, sure, she says. Its not that shes the first Black woman to lead the White Houses Office of Science and Technology Policy in its 45-year history or, at least, its not just that. Nelson is used to being around groups of people who look different from her. She grew up in science and tech, her mother a cryptographer. Its that Nelsons a sociologist . This job shaping the United States mammoth, multi-trillion-dollar science and technology complex has been most often held by physicists. The pattern was tweaked only slightly by the last occupant of this office: a geneticist who abruptly resigned in February. Nelsons still moving in, the only decoration on the 18-foot walls of this Eisenhower Executive Office Building space a poster-size photo of the James Webb Space Telescope gifted to Nelson by NASA. When President Joe Biden took office, he promised in part to restore America's faith in science, pledging to summon science and truth to combat Covid-19 and the climate crisis, after years of neglect and politicization by Donald Trump. For the first time, Biden elevated the post of science adviser to a cabinet level job. He appointed a high-powered genomics leader, Eric Lander, and charged him with delivering on Biden's hugely ambitious cancer goals. And in less than a year, that all blew up. Lander resigned in February after a bullying and mismanagement scandal, and Bidens bold agenda slicing the cancer deathrate by half, anticipating the next pandemic, problem-solving our way out of climate change, pushing the American tech industry ahead of Chinas, and drawing more Americans into both the creation and benefits of innovation were stalled. Now the person charged with shepherding Bidens science policy is Nelson a career academic with a resume completely unlike that of Lander or his predecessors. Story continues The administration is making a bet that her academic and professional background isnt a weakness but an asset. Nelson reminds me that on Bidens first day in office, he issued an order committing his government to advancing racial equity . In some ways, says Nelson, thats the whole arc of my life, my career, a glittering one that had made her an academic superstar celebrated for challenging the binary logic, as she and two co-authors put it in a volume of essays during her grad school days, that insists that race and technology are always at odds with each other. For generations, science and tech have not spurred the same discussions about identity and racial and gender equity that other policy areas have. Now, though, as the lines between the digital world and the real world blur, the costs of ignoring these disparities are becoming clearer. With AIs discriminatory potential becoming clearer by the day and a new system of digital currency quickly going mainstream but still mostly invested in and built by white men, Nelson and supporters are hoping that right now is a moment to center questions of who innovates, and who benefits from it. Nelson is at the forefront of that push, helping to craft U.S. policy on crypto to artificial intelligence and beyond. Sitting in her office, Nelson says her time at OSTP is informed by the idea that we have to have a frank historical accounting about how decisions about the countrys use of science and technology have not always been good. And if we want to do it better, she continues, if we want to do it in a way that benefits more people and includes more people, you have to have that conversation. Nelson has been in the post of temporary director technically performing the duties of the director for 52 days when we talk. She doesnt carry the acting title that would limit her time in the spot to 210 days, plus the time any nominee would be pending before the Senate. She is, the thinking goes, likely in this job until a new nominee is confirmed, which could be a while; her predecessor was pending before the Senate for four months. That timeline uncertainty isnt the only challenge she faces. Nelsons inheriting an office thats been rocked of late by the ouster of the previous chief and public scrutiny of its ties with the tech industry. Further, the job she is taking on has been weakened from the one her predecessor held; Lander, like many before him, was both OSTP and science adviser to the president. Biden split those roles, making Nelson the current head of OSTP and making Francis Collins, a geneticist and physician, the presidents science adviser. Nelson, then, isnt considered senior White House staff, and doesnt have the direct access to Biden that would come with the adviser role. Anyone in Nelsons position might struggle to just fulfill the responsibilities of the role. But Nelsons not here as a seat-warmer or caretaker. Shes taken on the job of considering what advances in science and tech are for, and who is served by them. Nelson is not just being asked to fill the role of OSTP director. She is being asked to remake it. A moment of crisis and opportunity for OSTP Even in the best of times, the Office of Science and Technologys power is largely the soft kind. Its annual budget is $5 million, or a fifth of what Facebook spent last year on Mark Zuckerbergs personal security. But the Office a.k.a. OSTP wields the imprimatur of the White House and the ability to signal priorities for federal attention, as well as funds from the huge buckets of federal money that go to them. The office uses those tools to shape how decisions are made about science and technology from pandemics to algorithms, space governance to STEM education, air quality to cryptocurrencies and far beyond in the Oval Office, federal agencies, university research labs and Silicon Valley. Barack Obamas OSTP, for example, helped to elbow the independent Federal Communications Commission into adopting aggressive so-called net neutrality rules, leaned on federal agencies to publish data on their operations for the first time and rallied historic levels of both government and private-sector funding to jumpstart studies into the functioning of the brain. These are not the best of times. In installing Lander as his first OSTP director and Nelson as one of his deputies, Biden had promised to restore an office that had shrunk considerably during Trumps time in office. OSTP had about 135 people at its height under Obama; under Trump, that number plummeted then increased, coming to about half that by the end of his term. When Biden named Lander to the office, he also named the OSTP director to his cabinet, a first for the role, because, as Biden said of science and tech, we think its that important. Landers appointment, though, was protested by a network of women scientists , and he quit in February amid complaints of bullying and mismanagement first reported by POLITICO . I am devastated that I caused hurt, said Lander at the time. (Asked about her own relationship with Lander, Nelson, after a long pause, calls it complicated. Pressed for more, she says, Eric was, I think, ultimately forthright about the challenges that he faced as a leader, and I will let his resignation and statement speak for itself about the dynamics in the office.) Just a week and a half later, Biden named Nelson to head the office, with the White House saying that with that and other personnel moves, he had reasserted the central role of science, technology, and innovation in confronting the nations most pressing challenges. One of those personnel moves was naming someone else as his science adviser: Collins, who had only just wrapped up more than 12 years as the director of the National Institutes of Health. Collins would focus on a handful of issues, among them pushing for the creation of a new health agency called ARPA-H, helping to rev up Bidens cancer moonshot, and finding a next National Institutes of Health director. Nelson would focus on the rest of the policy portfolio, from AI ethics to STEM education. She would also work to fix the office culture to make it a model of how science should work changes that she says shed lacked the authority to make during Landers tenure. The independence would free her in other ways, too. She doesnt have to kiss up to [Lander] anymore, says Anil Dash, the CEO of software company Glitch, who served with Nelson on the board of the think tank Data & Society. Depending on who you talk to, Bidens org-chart reshuffling was either a remarkable show of faith in Nelson or a slight , undercutting her from day one. Whos in charge? one Rice University physics professor asked in the journal Science . Biden needed a collegial and adept leader of people and I think for that Alondra was absolutely the right choice, says John Holdren, who served as both OSTP director and presidential science adviser for all of Obamas eight-year term. But the further challenge that he had is that President Biden is particularly attached to initiatives in biomedicine, including his cancer moonshot work, which are not in Alondras wheelhouse. And so he solved that problem, I think, pretty creatively. Splitting the OSTP director and science adviser roles isnt prima facie a bad idea, says Tony Mills, a science policy expert at the right-leaning American Enterprise Institute. The problem, says Mills, is it wasnt what Biden had said he wanted to do, a signal of chaos at the center of his tech and science policy apparatus. They said, Heres our plan, says Mills. The plan completely fell apart, and [they said], Heres what were going to do to pick up the pieces. That said, she has key allies. Shes a fearless policymaker on how science and technology can better serve and engage everyone, says Susan Rice, Bidens domestic policy adviser. Shes just, coming out of this difficult time for OSTP
[Shes] the right combination of very smart, very accomplished, very expert in the science and technology and social policy realm, but also a warm and thoughtful and empathetic leader just a really good human being whos a good leader of people. (Six months ago, per Nelson, her office, Rices Domestic Policy Council and the National Security Council started convening meetings of a White House tech accountability working group.) There are hard limits on what Nelson can do in building new approaches to tech and science. For one, OSTP isnt a regulatory agency; it cant write rules. But there are things that can be said, Nelson says. We can assert a rights-preserving vision of what technology should do in the world. A lifelong curiosity about science, tech and inequity Alondra Nelson was born in Bethesda, Maryland, in 1968. Her parents, both military, had met at New Mexicos White Sands Missile Range, she says. (Her mother worked in a subterranean bunker, and would walk a mile to meet her father above ground.) Nelsons first handful of years were spent in Guantanamo Bay and then Naples, Italy, before making her way to San Diego. She was surrounded by science, she says candy-striping at the local naval hospital, spending weekends at the Salk Institute for Biological Studies. She found it claustrophobic. I was always more interested in the people, she says, what people do with science. Graduating from UC San Diego in 1994 magna cum laude with a degree in anthropology, she looked for a graduate program that would let her study not some far-off culture but something closer to home: the American tech scene. She found it at NYU. In New York, she quickly made a mark, and connections. Shed been struck, she says, by the narratives going around that the great thing about technology is there wont be identity, as she puts it, laughing. Is that a good thing, if no one knows youre a woman on the Internet? Maybe. Is it a good thing if no one knows youre Black? She began interrogating the idea, pushing back on the notion that race and gender wouldnt mean anything in the digital age. This was the late 90s, and people were learning to build relationships online. Nelson grabbed onto a concept circulating in the air of Afrofuturism, an aesthetic and philosophy that blends ideas about the future and technology with the history and experiences of the African diaspora. A related listserv created by Nelson attracted an eclectic mix of scholars, artists and inventors, among them the science fiction novelist Bruce Sterling, the poet Pamela Mordecai and Jelani Cobb, then a grad student studying history at Rutgers, now a widely acclaimed New Yorker writer. Shes a brilliant scholar who has bridged lots of different disciplines, says Cobb of Nelson today. Sometimes people take one idea or one question and drill deeper and deeper into that single area. Alondra has gone outward, to roam through the cultural context in which technologies and society exist. Cobb today remains a Nelson fan. I just think the world of her. PhD in American studies in hand her dissertation recounted the health activism of the 60s-era Black Panthers in 2003 Nelson joined the Yale faculty as an assistant professor, and spent a half-dozen years in New Haven before being recruited away by Columbia, first to teach, then also to serve as the dean of social science for the school. She spent a dozen years there, building a reputation as a creative scholar capable of seeing around corners. Throughout her career, she collected stories of how communities of color embraced science and technology in unexpected ways, laying claim to places much of the world told them they didnt belong. Dash, the Glitch CEO, has known Nelson for years, including serving with her on the board of the think tank Data & Society. He points to her popularization of the idea of Afrofuturism now widely reflected in pop culture see Time magazine declaring in 2019 Afrofuturism is having a moment while citing the film Black Panther and her spotting early on the salience genetic testing would come to have in Black communities. Her 2016 book, The Social Life of DNA , an ethnography of sorts that took her from Oakland, California, to the U.K., dug into Black early adopters of consumer genetic testing kits and looked at how the practice held potential as a way of reclaiming lineages hidden by slavery and becoming a tool for addressing reconciliation, perhaps in the form of reparations. Being that right for that long with that much clarity is pretty rare, says Dash. At its core, her philosophy was that focusing solely on those communities exclusion not just misread the past, but shriveled the future possibilities innovation holds for them. In 2017, she took on the presidency of the Brooklyn-based Social Science Research Council. She left in 2021 to focus on her spot on the faculty at the prestigious Institute for Advanced Study, the Princeton organization that once housed the likes of Albert Einstein and J. Robert Oppenheimer. Along the way, she was working on another book, one that would look at a semi-obscure wing of the Obama presidency she found fascinating: the White House Office of Science and Technology Policy. Nelson says she saw OSTP as the place where a compelling shift was taking place. As his administration wore on, Obama began to show a wariness of science and tech. Science allows us to communicate across the seas and fly above the clouds; to cure disease and understand the cosmos, he said on a visit to Hiroshima, Japan, deep into his second term. But those same discoveries can be turned into ever-more efficient killing machines. Says Nelson, I was very interested in the emergence in American science and technology policy of a conversation about ethics and values [coming] in an explicit way from the White House. Nelsons work on the book, rooted in the idea that Obama broke new presidential ground by centering the ethical implications of tech and science, would raise her profile in Washington, but the Biden universe already had her on their radar screen. As it became obvious that Biden would be president (Dodged a bullet, Nelson wrote in a now-deleted tweet on Election Day, adding, I didnt even know I had this phrase in my vocabulary), they looked for a place for her. President-elect Biden would craft a new role custom-built for Nelson, one she had her own hand in defining: the first ever deputy director of science and society. Nelson signed on. Shed rent an apartment in a townhouse in Logan Circle and start working under Lander. In announcing his pick of Nelson, Biden called her one of Americas leading scholars powered by a life-long curiosity about the inequities and the power dynamics that sit beneath the surface of scientific research and the technology we build. I have the ability to steer these things towards the promise When Lander resigned in February, he was soon scrubbed from the White House websites cabinet list. But there was still a problem: there were all sorts of laws and executive orders that depended on someone running OSTP. But who? To the extent that Nelson had gotten to know those in the office working in large part remotely, she was well-liked. She had a sterling CV and a reputation for collegiality. Biden, in a statement, called her elevation and Collins role a new chapter for the White House Office of Science and Technology Policy. When the idea arose of splitting Landers old job, Nelson got in contact with Collins, who was then, as she put it, off in an Airbnb somewhere enjoying his newfound freedom, Nelson recalls. Nelson knew the geneticist only by reputation. They got on the phone. Could this plan actually work? Nelson concluded that it could not only work, but be a win-win. Collins would tackle the tasks his background in public health suited him for. Nelson would focus on both her own policy portfolio and overhauling OSTPs culture. And shed set out to fill some key spots. The role of U.S. chief technology officer, created to great fanfare by Obama in 2009, has been vacant since the start of the Biden administration. The loosely defined job generally exists to help the president and senior staff figure out how to harness technology to the benefit of Americans. The search for one got a late start, says Nelson, but those in the know say that its complicated by the fact that any pick for the Senate-confirmed spot would have to give up financial ties to the tech industry. Filling up OSTP is complicated, too, by the somewhat odd way in which the office brings on new aides. The law establishing it calls on the director to tap into the resources of outside organizations agencies, universities and beyond to pay for the expertise it needs. Its a way of keeping OSTPs budget down, avoiding duplicating work and maintaining a steady flow of fresh talent from the front lines. A nice idea, perhaps, but in practice sometimes a headache, as when it became known that organizations tied to one-time Google CEO Eric Schmidt were helping to fund staffers in theory giving that tech billionaire the ability to shape policy on a national level. How often, I ask Nelson, does she talk with Schmidt? I dont know Eric Schmidt, she says. Ever have a conversation with him? She didnt think so. (Nelson herself was paid by the Institute for Advanced Study until shortly after her switch in duties. Shes now on OSTPs payroll.) Nelson is hardly limiting herself to office administration. Shes pushing policymaking motivated by, she says, the notion that emerging technologies should be built with the fundamental rights held by citizens in a democratic society as their blueprint. In March, Biden issued an executive order telling the executive branch to really start thinking about how to tackle cryptocurrencies like Bitcoin and Ethereum. Her office pushed for a handful of provisions, driven by the idea that getting the technology right helps fix failings before they can spin out of control. They came away with a set of specific duties, like exploring what it would take, technically, to create a central bank digital currency. Nelson, notably, put out her own statement highlighting cryptos possible upsides: It could, she said, be cheaper and more efficient than traditional financial instruments. It could also be more equitable, if past mistakes are avoided. She pointed out in the statement that households of color, lower-income households and disabled households are more likely to be unbanked. Digital assets could help close this gap, she wrote. But this wont happen by accident; it has to be done by design. Nelsons biggest policy push is the creation of a so-called AI bill of rights. When Nelson arrived at the White House, she would later say through a spokesperson, it became clear that there were plenty of people trained on the harms of Big Tech. She opted to go beyond beating up on Facebook and TikTok and move the conversation up one level of abstraction to establishing some sort of consensus on the rights free people can expect in a democratic society. The goal is to focus less on mopping up messes and more on fixing the machinery at the start. Going upstream, Nelson calls it. In October, Nelson and Lander began gathering public comments on how Americans are experiencing AI , and the bill of rights is due out in early May. Ive been studying marginalized communities relationships with science and technology, and have a depth of understanding that these communities dont only see peril, but also promise, says Nelson. And now at OSTP, I have the ability to steer these things towards the promise. And Nelsons time at OSTP is also beginning just as Covid-19 has made it clear that some of the biggest obstacles to medical progress are not scientific but social. In less than a year, we have the vaccine, she says. You would think, Get in arms, lets go. You needed to tell people that you understood that they might have some reservations and why they shouldnt. Its another way Nelson is transforming the office: a focus on clear, direct communication as a tool of scientific progress. What if you were doing the communications work, and [developing] a real understanding of the social seedbed that you need to create as youre creating innovation? She says, Those things have to travel on parallel tracks, so that when the technology or scientific innovation is done, people are ready to receive it. A new era for OSTP I ask if Nelson retains the early enthusiasm for technology that seemed to mark her early work, from the sense of possibility embedded in Afrofuturism to her exploration of genetic testing as a tool of empowerment. Weve learned a lot since that millenarian foam of optimism, she says. For me, particularly in this place, its, What have we learned in those 20 years about how to temper our optimism? Or, that optimism might have to have guardrails, or regulations. We cant just assume certain outcomes. The work before her leaves little time for sprucing up the place, she says, but her staff has put in a few requests on her behalf with the Smithsonians National Museum of African American History and Culture. The NASA photo is coming down. The telescope in it is named for a former head of the agency , James Webb, whos become controversial in recent years over whats seen as his role in the purging of gay and lesbian employees from the agency. Webb was a minor character on the 2016 movie Hidden Figures a film about Black female mathematicians that Nelson says so overwhelmed her mother by showing for the first time on-screen an experience akin to her own that she took to bed for the day. To replace it, Nelson will be putting up an Annie Leibovitz photo portrait of Katherine Johnson , one of the mathematicians.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 31305.11, 29862.92, 30425.86, 28720.27, 30314.33, 29200.74, 29432.23, 30323.72, 29098.91, 29655.59
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2019-01-31]
BTC Price: 3457.79, BTC RSI: 37.84
Gold Price: 1319.70, Gold RSI: 74.29
Oil Price: 53.79, Oil RSI: 57.38
[Random Sample of News (last 60 days)]
Indices Annual Market Recap – 2018: When they write the book on the stock market’s performance in 2018, I’m sure they’re going to mention that stocks turned from the greatest bull market in history into a bear market in just a matter of weeks. While this may deal with the movement in price, in my opinion, the return of volatility was the biggest news story.
Let’s face it, investors had an easy time in 2017 with optimism over the economic policies of newly elected President Donald Trump driving stock prices to all-time highs at breakneck speed. Investors seemed to be driven by a “what me worry” attitude as there seemed to be nothing in the way to stop the economy from growing.
The new year began with great optimism and ended with an extremely pessimistic outlook for 2019. Helping to boost the outlook for a better economy in 2018 was the passing of President Trump’s tax reform bill. This move put more money in the pockets of consumers and especially in the coffers of businesses.
However, lurking in the background throughout the year was the U.S. Federal Reserve. Surprisingly, however, right there in plain sight was President Trump, who has to share the responsibility with the Fed for fueling one of the most volatile stock markets in history.
While President Trump was out to grow the economy, the independent Federal Reserve was out to prevent the economy from overheating. The Federal Open Market Committee, led by Fed Chair Jerome Powell, raised its benchmark interest rate four times in 2018 in an effort to stem the evil effects of inflation.
It wasn’t like investors weren’t warned about the rate hikes in 2018. In fact, some blame the first steep break in the stock market in January/February on the central bank’s commitment to raise rates at least four times. Investors were able to overcome this event and the markets hit their all-time highs late in the year.
The rally came to a screeching halt in October when oil prices began to tumble and Fed Chair Powell turned extremely hawkish about additional rate hikes in 2019. The stock market strength continued to deteriorate the rest of year as oil prices retreated to 18-month lows. Furthermore, a split developed in the financial markets as investors began to price in the possibility of a recession in the futures, while the Fed continued to talk up the notion of future rate hikes. This split in investor sentiment is largely responsible for the heightened volatility late in year that gave us the worst Christmas Eve stock market sell-off in history, only to be followed shortly thereafter by the biggest one-day gain by the Dow in history.
For 2019, volatility is here to stay so investors are going to have to get used to it.
As far as President Trump is concerned, some blame his trade war with China as contributing to the stock market volatility. Others say it was his constant attacks on the Fed Chair Powell and Fed policy that shook up the markets. Furthermore, still others are saying that the potential for legal action against the President as well as the possibility of him getting impeached is helping to encourage investors to bail out of the markets.
We’re going to start 2019 with a partial government shutdown, which means heightened volatility at the beginning of the year. How long it lasts and who gives in to get the government started again could set the early tone in the markets for next year.
Thisarticlewas originally posted on FX Empire
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• Price of Gold Fundamental Daily Forecast – Positive News About US-China Trade May Weigh on Prices || This Bitcoin Startup Is Working on Free Speech Alternatives to Patreon: Patreon has been making the case for censorship-resistant money increasingly apparent.
The platform allows members to contribute to artists or creators that they support. These contributions are made via standard payment methods like credit cards.
Over the past few months, there has been an increase in public outcry over multiple separate instances where Patreon has removed creators from its platform. BitPatron, a Bitcoin-friendly version of the website, has recently come to the surface as a possible alternative.
One of the first well-known bans dates back to August 2018 when James Allsup, a far-right political commentator, was banned from the funding platform.
In December, a wave of media attention ensued when another alt-right activist and spokesperson, Milo Yiannopoulos, was shut down almost 24 hours after he had set up an account to fund his “magnificent 2019 comeback tour.” Patreon’sreasoningforremovingYiannopoulos’s account was due to his past association with the Proud Boys, a violent, far-right political group (whose founders werekicked off of Facebook and Twitterrecently as well).
Only a day after Yiannopoulos’s ban, British YouTuber Sargon of Akkad had his account removed forviolating Patreon’s hate speech guidelinesby making racist and hateful remarks toward minority groups.
Another notable example occurred when Patreon had to close an account against their will when Mastercard required them to remove the account of Robert Spencer, a political activist and author of several “counter-Jihad” books.
In response to Spencer’s removal and other account bans, Jordan Peterson, professor of psychology at the University of Toronto, and David Rubin, creator and host ofThe Rubin Report,announcedthey were leaving Patreon because of the way that the platform has handled these situations.
Bitcoin is a censorship-resistant currency. One of its many valuable attributes is that nobody can tellanyonewhat they can or cannot do with their bitcoin. As long as someone is able to receive bitcoin (which, by design, is very easy to do), no transaction from anywhere can be stopped.
BitPatronis a direct response to Patreon’s proclivity to censor content on the platform. It will offer a similar crowdfunding platform as its predecessor, but will allow users to support creators with bitcoin.
By using Bitcoin and Lightning as payment methods, BitPatron expects to offer lower fees than its competitor. BitPatron’s payment processing system is built on top of BTCPayServer, an open-source payment processor for Bitcoin and Lightning. According to the website, there is no minimum pledge amount, compared to Patreon’s $1 minimum. Total fees for the platform are 4 percent, much lower than Patreon’s 10 percent.
The platform’s co-founder believes that, more than just offering users a lower fee competitor to Patreon, BitPatron’s focus on bitcoin is about free speech.
“Patreon publicly admitted that Mastercard required them to remove accounts. This is where Bitcoin and BitPatron come in. Bitcoin is censorship-resistant, free-speech money, and BitPatron is taking a leading role at building a Bitcoin-based, censorship-resistant platform that gives the power back to the community where it belongs,” Vin, co-founder of BitPatron, toldBitcoin Magazine.
But BitPatron is still not a completely, “anything goes” platform yet. A spokesperson for the company toldBitcoin Magazine:“For now, we are planning to monitor and block only in extreme cases, such as illegal pornography, threats or calls for violence, or terrorism-related content.
He added that ideally, in its purest form there would be no centralized control, but there’d be some sort of decentralized algorithm to perform the necessary checks. “That's why we are considering blockchain platforms that would allow users to self-host their content and be responsible for it.
“We want to remain a platform for every voice, which is, in our opinion, a far greater task than monitoring ‘hate speech.’ We therefore need to make sure that the platform remains interesting for voices of the entire spectrum.”
BitPatron will first allow podcasters and video creators to offer exclusive content to their supporters, and it also has plans integrate with Discord groups to support chat rooms.
In the bigger picture, a platform like BitPatron could support content creators from all walks of media. It is a platform where people receive financial support from others all across the world in a seamless and instant way with a censorship-resistant currency.
According to the platform, the public beta will go live next month.
This article originally appeared onBitcoin Magazine. || Digix Stablecoin Seeks to Put Gold on the [Ethereum] Blockchain: Thestablecoinis still an evolving concept, and there have been multiple approaches to it. Dai has algorithmic methods to keep it tied to the US Dollar, while the multitude of stablecoins – USDT, PAX, GUSD, TUSD, and USDC — all simply offer a 1:1 exchange ratio. The recently-rebrandedAmpleforthoffers an elastic supply so that the holder always gets the same value out of their investment, while they may have a different number of tokens depending on the market value of the token.
Digix takes a different approach, tying the value of its DGX token to 1 gram ofgold. A small outfit run out of Singapore, Digix Global says that it will redeem tokens for physical bars of gold that they store in their vault. Redemption must take place in person, primarily for security but also due to the high cost of internationally shipping gold safely. We spoke to Kai C. Chng, the co-founder of Digix, about how it works.
First things first, even if theexchangeitself were to flounder and never take off, Digix has developed an interesting method for tracking its gold bars on the exchange. Chng told us that every bar is scrupulously scanned into the system, its receipt information stored, and it is then associated with the token issued for sale. That is, essentially when you trade or hold DGX tokens, you are actually holding certificates of ownership to gold. There is a minimum redemption requirement, but such tokens can play a key part in trader strategy nevertheless.
“We have what we call a demurrage fee, it’s almost equivalent to storage, insurance, coded in the smart contract of each bar.”
Thus, this is how the exchange makes money – by storing tokens and their associated bars with Digix, a small amount of the token is eroded to pay for the gold’s storage.
At a given time, the exchange transparently lists its wares. Users are free to inquire if they have further questions about storage and tracking. The DGX token is currently listed on a number of reputable exchanges includingEthfinex. The majority of its trades seem to happen on the decentralized markets.
At the time of the interview they only had about 1400 grams on hand, but the CEO said they would be acquiring another 5,000 units from their supplier,London Bullion Market Association. By time of writing they had acquired these and sold a number of them, their supply being just over 4,600.
For those interested in trying out Digix, there is a sale going on with the exchange. They are selling under the cost that it costs them to acquire the gold until the end of the year, in an effort to stimulate user activity. Chng explained that in a normal situation, the exchange and transaction fees eat up around .05% of the value of the gold, putting a premium on the token versus actual gold bars at spot price. But until the end of 2018, Digix will be eating these fees. “We’re sort of just absorbing the fees right now,” said Chng.
The operation may seem small when compared to exchanges that transact in digital gold likeBitcoin, but it was founded and funded with private equity and has what amounts to a sound business model, if nothing else. Chng said that three people have come toSingaporeand made redemptions, one of them in the thousands of units, and he felt that at least one of these people were just testing to see if the process really worked as advertised. They were not disappointed.
Featured Image from Shutterstock. Charts fromTradingView.
The postDigix Stablecoin Seeks to Put Gold on the [Ethereum] Blockchainappeared first onCCN. || How to Invest in Bitcoin … Before the Herd Comes Rumbling Back: Learning how to invest in bitcoin reminds me of learning how to use the internet in the ’90s. Few investments are as confusing. Stocks have been trading for more than 400 years. But cryptocurrency is barely a decade old. Questions and confusion are inevitable.
If you’re willing to put in the extra effort today, you’ll beat the masses tomorrow. I’m convinced bitcoin will only grow in scale and opportunity.The crypto revolution is just beginning.
Being on the outside means you can’t profit from it in the future.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
When you’re learning how to invest in bitcoin, I recommendbuying an extremely small amount to start. Don’t invest more than 1 or 2% of your investable assets. Keep in mind, you don’t have to buy an entire bitcoin either. You can buy as little as 0.00000001 bitcoin.
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Familiarise yourself with the process of buying, moving and storing bitcoin. It’s not like traditional online banking. Passwords are long and complicated. The terminology is new. Some wallets aren’t intuitive.
If you make a mistake, do it with a few dollars … not hundreds of dollars.
To buy your first bitcoin, you’ll need:
• A computer
• A mobile phone
• A notebook
• Identification (i.e. your passport or driver’s license)
• Proof of address (a recent utility bill with your name and address)
• A printer
• Your bank details
Remember, you’re responsible for your account when you buy bitcoin. If you forget your password or private key, you can lose everything.
If you send bitcoin to the wrong location, you can’t call up your bank and cancel your transaction either. That’s it. There are no refunds.
Make backups and hard copies of everything. Buy a physical notebook or folder and use it to store usernames and passwords.
You may look at this list and think, “this is too much like hard work.” But remember, thecrypto banking revolution is comingfirst. Then, crypto will permeate just about every industry on the planet.
To start buying bitcoin, you need an “on-ramp.”
An on-ramp is a website where you can convert traditional currency into bitcoin. People call them “exchanges.”
Gemini is one I’ve used. Creating an account on an exchange is very similar to creating an online bank account. You’ll first create a username and password. Then, you’ll provide the documentation you gathered in Step 2.
After a 1-2 day verification period, you’ll be able link a bank account with your exchange account. Deposit some fiat money. When your deposit clears, you can use it to buy bitcoin.
Beyond Gemini, there are several options:
These exchanges let you buy bitcoin, but I don’t store my bitcoin on them. They can (and do) get hacked.
Which brings us to step 4 …
After purchasing bitcoin on an exchange, transfer it to a wallet. Your bitcoin “wallet” is a single place to store, send and receive bitcoin – one that’s not owned by the exchange.
There are several types of wallets:
• Software on a mobile or desktop device
• A dedicated hardware device
• A USB stick
• A piece of paper
Some wallets are only designed for bitcoin. That means they only interact with the Bitcoin blockchain.
Other crypto assets have their own wallets. There are even wallets that support dozens of different crypto assets.
One popular hardware wallet is called Trezor. It allows you to store bitcoin offline.
Wallets like Electrum let you store bitcoin on a computer. If you want to store your bitcoin in a web-wallet, look atBlockchain.com’s wallet.
When you’re comfortable transferring bitcoin from an exchange to your wallet, go back to the exchange. Try trading bitcoin for another cryptocurrency like Ethereum. Not only will you know how to invest in bitcoin before the masses, you’ll be even further ahead of the pack.
Good investing,
Eric
As of this writing, Eric Wade was long bitcoin.
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The postHow to Invest in Bitcoin … Before the Herd Comes Rumbling Backappeared first onInvestorPlace. || Supply Shortage Could Impact Lithium ETF: This article was originally published on ETFTrends.com. Long viewed as one of the primary avenues for playing the electric vehicle boom, the Global X Lithium & Battery Tech ETF ( LIT ) , which tracks the full lithium cycle from mining and refining through battery production, is down more than 20% this year. Tighter supply in the global lithium market could impact LIT. LIT is more than eight years old and targets the Solactive Global Lithium Index. Fitch believes there are challenges to producing high-quality supply that could cause additions to fall short of expectations, even if demand for electric vehicles (EV) and other electronics requiring rechargeable batteries temporarily slows, said Fitch Ratings in a note out Thursday . Electric vehicles are in the early innings of development and there are signs that there is a lot of pent up demand among consumers whom want to embrace the technology. In 2017, electric vehicle sales represented 1.7% of all vehicle sales globally, exceeding 1 million for the first time and rising 51% year-over-year. The rate could continue to accelerate as a result of EVs becoming more economical than gas-powered cars and as a result of a pro-climate regulatory changes pushing to ban gas-powered cars. Crimped Lithium Mining Supply LIT holds 33 stocks and several of those companies are directly engaged in lithium mining. Over 58% of LIT's sector exposure is allocated to the material sector. CRU projects global supply of lithium carbonate equivalent will hit 557 kilotonnes (kt) by 2023, rising at an 18% CAGR from 2015 to 2023. This projected capacity growth is highlighted by expansion projects from all of the leading global producers, according to Fitch. While producers are looking to increase lithium output to meet rising demand, that does not mean all the projects will come online in a timely fashion. Nor does it mean producers are assured of tapping high-grade lithium. Lithium operations, particularly brine, can be difficult to bring online and require expertise and a significant learning curve to operate effectively, said Fitch. Delays in project timing are not uncommon, even among top producers, and plants can take years to fully ramp up once construction is completed. Story continues The potential for supply shortages comes against a backdrop of robust demand expectations and those expectations are in place for a multi-year period. Leading industry analysts project lithium demand to remain robust through the next several years as a result of the continued adoption of EV, with CRU projecting lithium demand to grow at a 12% CAGR through 2023 to 484kt, according to Fitch. For more information on the materials space, visit our basic materials category. POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Bitcoin: Battered & Bruised Hitting 2018 Low of $3,280 A Year-End Report Card for Industry Predictions in 2018 Forget the Mistletoe, Bring Missiles: 4 Aerospace & Defense ETFs Smart ETF Plays in a Volatile Market Environment 3 Economic Challenges George H.W. Bush Overcame During his Presidency READ MORE AT ETFTRENDS.COM > || Switzerland Merchants Charged 8% by PayPal Showing Merits of Crypto: PayPal , a leading payments processor valued at over $97 billion, charges merchants high percentage-based fees on top of a flat based fee of 2.9 percent. The high transaction fee of PayPal has led merchants to explore alternatives like crypto to minimize expenses. For most normal users on PayPal, a transaction from one user to another in the same country is charged a base fee of 2.9 percent. But, if the transaction is sent to a user in a different country, conversion rates apply, often taking the fee from 2.9 percent to over 5 percent. For merchants, the fee can exceed the range of 8 to 10 percent depending on the country a merchant or a user is based in. 8% Fee, Locking Funds For 3 Months On a cryptocurrency-related subreddit (/r/cryptocurrency), one Switzerland-based merchant shared a screenshot of a transaction covering a payment received from a buyer with seller protection. For a purchase of one deck of crypto playing cards worth 14.9 francs (CHF) which is equivalent to $15, PayPal charged a transaction fee of 1.21 franc, an 8.12 percent fee. The payment seems small due to the low price of the product, but if the merchant sells 1,000 of the crypto playing cards and generates $15,000, an 8.12 percent fee on the revenue is $1,218. Merchants often have to deal with a wide range of costs and for those dealing with physical products, merchants have to cover manufacturing costs and taxes among other expenses. An 8.12 percent fee before any other expense is deducted from the revenue places a significant burden on a merchant. On most payments platforms, a system called seller protection also locks certain payments received by merchants from time to time for three months, disallowing merchants from withdrawing the money sent by buyers for a set period of time in case the buyer wants a refund. Such a policy causes a major problem for merchants, especially for small businesses which are scaling, that need to address urgent payments and cover expenses with the revenue generated through e-commerce platforms and facilitated by PayPal. Story continues The Swiss merchant said that six payments are currently stuck for another three months without a specific reason provided by PayPal. The merchant wrote : But now I wished I never used PayPal, got a lot of money stuck for another 3 months (6 total) and they give me no reason at all. After being a customer of theirs for 6 years one day they decided nope were gonna hold your money, ban you from our service. Can Crypto Service as an Alternative? Despite the increase in the value of Bitcoin and major crypto assets over the past nine years, the cryptocurrency sector has not seen an improvement in merchant adoption at the same rate as other areas of the space. Prior to the bull run of cryptocurrencies in late 2017, it was difficult for cryptocurrency companies to convince merchants to adopt digital assets due to the lack of mainstream awareness of the asset class. As the infrastructure around digital assets strengthens and companies like ICE and Bakkt continue to build services around it, more merchants could begin to integrate cryptocurrencies as an alternative to payment processors. Already, the Switzerland-based merchant has integrated a cryptocurrency payments processor into an e-commerce website to experiment with digital assets. Featured image from Shutterstock. The post Switzerland Merchants Charged 8% by PayPal Showing Merits of Crypto appeared first on CCN . || Taproot Is Coming: What It Is, and How It Will Benefit Bitcoin: taproot.jpg Bitcoin users may, before long, be able to benefit from a trick called “Taproot.” First proposed by Bitcoin Core contributor and former Blockstream CTO Gregory Maxwell, Taproot would expand on Bitcoin’s smart contract flexibility, while offering more privacy in doing so. Even the most complex smart contracts would, on the blockchain, typically be indistinguishable from regular transactions. While a big undertaking, this is not just theory. Several of the most prolific Bitcoin Core contributors — including Pieter Wuille, Anthony Towns, Johnson Lau, Jonas Nick, Andrew Poelstra, Tim Ruffing, Rusty Russell and, indeed, Gregory Maxwell — are working on a Schnorr signature proposal that would include Taproot, all in one protocol upgrade. Here’s what Taproot is and how it works. P2SH All bitcoins are essentially “locked up” in scripts: a couple lines of code embedded in a transaction included in the blockchain, that define how the coins can be spent in the next transaction. Spending conditions usually involve providing a signature to prove ownership of the coins. But other, well-known conditions for example include timelocks (coins can only be spent after a specific block height or date) or multisig (coins can only be spent if some number of private keys out of a set of private keys provide signatures). Different conditions can be mixed and matched, to create complex types of smart contracts. An example of such a contract could be that coins can be spent if both Alice and Bob sign, or if Alice alone signs after a week has passed, or if Bob alone signs while also providing a secret number. Whichever of these three conditions is met first, is how the coins are spent. Since 2012, scripts (the conditions) are often not publicly visible at first; only the new owner of the coins knows how they can be spent. This is done with a trick called P2SH (pay to script hash), where initially only a hash of the script is included in the blockchain. This seemingly randomly scrambled number holds the coins. When the owner spends the coins, he reveals the whole script as well as the “solution” to the script at the same time. Anyone can then use the initial hash to check that the supplied script was indeed the original script locking up the coins and can immediately conclude that the requirements of the script were met. Story continues Still, when the coins are spent, it’s currently necessary to reveal all the possible conditions that could have been met — including the conditions that weren’t met. This has two main downsides. One, it’s data heavy, especially if there are many conditions. And two, it’s bad for privacy. Everyone learns all the different ways in which funds could have been spent, which can, for example, reveal what kind of wallet was used and perhaps even more. MAST MAST (Merkelized Abstract Syntax Tree) is a proposed solution that uses Merkle trees (a decades-old, compact data structure invented by cryptographer Ralph Merkle) to work around these two downsides. In short, all the different conditions under which the funds can be spent are individually hashed (as opposed to combined into a single hash) and included in a Merkle tree, which ultimately produces a single hash: the Merkle root. This Merkle root “locks up” the coins. The unique benefit is that if any of the data in the Merkle tree is revealed, the Merkle root and some additional data (called the Merkle path) can be used to verify that that specific data was included in the Merkle tree. The rest of the Merkle tree remains hashed and hidden. With MAST, this means that only the condition that is met needs to be revealed. If, in the initial example above, Alice alone spends the funds after a week, she just reveals that condition (and the Merkle path). No one learns that the money could have also been spent by Alice and Bob together, or by Bob alone if he’d added a secret number. This makes MAST more data efficient than complex P2SH smart contracts and adds privacy to boot. Yet with Schnorr, Taproot can do even better: a transaction can hide that a MAST-structure existed at all. Schnorr The Schnorr signature scheme has long been on the wishlist of many Bitcoin developers and is currently in development to be deployed as a soft fork protocol upgrade. Many cryptographers consider the Schnorr signature scheme to be the best in the field, as its mathematical properties offer a strong level of correctness, it doesn’t suffer from malleability and is relatively fast to verify. As its best-known benefit in the context of Bitcoin, Schnorr’s “linear math” allows for signature aggregation: several signatures in the same transaction can be combined into one. A similar trick could be applied to multisig transactions. Combining both public keys and signatures into “threshold public keys” and “threshold signatures,” a multisig transaction can be made indistinguishable from any regular transaction. And the signature scheme can be used in even more interesting ways. For example, it’s possible to use data to “tweak” both a private key and a public key. As a simplified example, a private key and its corresponding public key could be tweaked by multiplying both by two. The “private key x 2” and the “public key x 2” would still correspond, and the “private key x 2” could still sign messages that could be verified with the “public key x 2.” Anyone unaware that the original key pair was tweaked wouldn’t even see any difference; the tweaked keys look like any other key pair. This is what enables Taproot. Taproot Taproot is based on an interesting realization: no matter how complex, almost any MAST-construction could (or should) include a condition that allows all participants to agree on the outcome and simply sign off on a settlement transaction together. In the earlier example, if Bob knows Alice can, by herself, claim all the funds next week, he might as well cooperate with her now to sign off together. (In many typical smart contract setups he would even be penalized if he doesn’t. The complexity really just serves to keep everyone honest.) Taproot resembles MAST and always includes a condition where all participants can cooperate to spend the funds: the “cooperative close.” By utilizing Schnorr signatures, this is where it gets interesting. First off, the cooperative close would utilize Schnorr’s threshold trick to make it look like a regular transaction, from one person to another. So, the public keys of all participants are added together, resulting in the “threshold public key.” Corresponding with this threshold public key, the combination of all participants’ signatures — their “threshold signature” — allows them to spend the funds. So far so good, but spending the funds as if it were a normal transaction is the only thing they can do — no MAST-like structures yet. That’s where the other Schnorr trick comes in. All the alternative ways in which the funds can be spent — the non-cooperative outcomes — are this time combined into a different script. This script, then, is hashed and used to tweak the threshold public key. Rather than “public key x 2,” as used in the example earlier, this results in a “threshold public key x script.” (We’re still simplifying.) This “threshold public key x script” corresponds, of course, to a “threshold signature x script.” Now, if the money is spent cooperatively, all participants combine their signatures into the “threshold signature” and tweak it with the script. The resulting “threshold signature x script” allows them to spend the funds. Yet, and importantly, to the outside world, all this would still just look like a regular public key and a regular signature — a regular transaction. Only if a cooperative close proves impossible, the threshold public key can be shown for what it really is: tweaked. In this case, both the original threshold public key and the script are revealed. This proves that the “threshold public key x script” was tweaked with this specific script. So, like the hash in P2SH, the tweak proves to the world that the funds should be spendable if the alternative conditions, as specified in this script, are met. (And, like with P2SH, these conditions are of course immediately met to spend the funds.) Alternatively, instead of tweaking the threshold public key with script, the threshold public key can be tweaked with a Merkle root of a Merkle tree that includes all the different conditions under which the funds can be spent: a MAST structure. To spend the funds, then, only the spending condition that’s been met needs to be revealed. As such, Taproot offers all the benefits of MAST, while under normal circumstances no one will ever know that a regular transaction was hiding such a complex smart contract as a fallback. This is a general outline of the Taproot concept; implementation specifics may vary. For more details, read the original Taproot proposal by Gregory Maxwell or watch this presentation by Pieter Wuille. This article originally appeared on Bitcoin Magazine . || Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 07/01/19: Bitcoin Cash ABC Makes Ground Bitcoin Cash ABC gained 4.21% on Sunday, reversing a 0.68% fall from Saturday, to end the week up 1.94% to $165.24. A relatively range bound first half of a day saw Bitcoin Cash ABC fail to break through to $160 levels, while an early morning intraday low $157.00 saw Bitcoin Cash ABC hold well above the first major support level at $154.68. Tracking the broader market, a late afternoon rally kicked in, with Bitcoin Cash ABC breaking through the 38.2% FIB of $163 and first major resistance at $163.86 to an intraday high $166.52 before easing back. At the time of writing, Bitcoin Cash ABC was down 1.08% to $163.45, with a bearish start to the day seeing Bitcoin Cash ABC fall from a morning high $165.22 to a morning low $163.45, the days major support and resistance levels untested, with Bitcoin Cash ABC holding above the 38.2% FIB of $163. For the day ahead, a hold onto $163 levels through the morning would support a recovery later in the day, a move through the morning high $165.22 bringing $168 levels and the first major resistance level at $168.84 into play, Bitcoin Cash ABC needing support from the broader market to break through to $170 levels later in the day. Failure to hold onto $163 levels could see Bitcoin Cash ABC fall through to $160 levels to call on support at the first major support level at $159.32, with market sentiment across the broader market to dictate whether Bitcoin Cash ABC will fall through to Sundays $157 low. Litecoin Continues to Lead the Way Litecoin surged by 12.76% on Sunday, following on from a 7.68% rally on Saturday, to end the week up 23.2% to $38.88. Recovering from an early morning dip to an intraday low $34.06, Litecoin enjoyed another bullish day, rallying through the late morning and afternoon to an intraday high $40.12. Litecoin broke through the first major resistance level at $36.39 and second major resistance level at $38.3 to hit $40 levels for the first time since 19 th November before easing back to $38 levels late in the day. Story continues At the time of writing, Litecoin was down 0.98% to $38.50, with Litecoin pulling back from a start of a day high $39.48 to a morning low $38.15 before steadying, the days major support and resistance levels left untested early on. For the day ahead, a move back through the morning high would support a break back through to $40 levels, with a resumption of the latest rally likely to draw in side lined investors to bring the days major resistance levels into play, the first major resistance level at $41.31 the bulls primary target. Failure to move back through the morning high could see some money come off the table following a week of solid gains, with a pullback through to $37 levels bringing the first major support level at $35.25 into play before any recovery. Ripple Eyes $0.40 Levels Ripples XRP gained 4.38% on Sunday, reversing a 2.02% fall from Saturday, to end the week down 1.46% at $0.3768. An early morning intraday low $0.35442 saw Ripples XRP hold above the first major support level at $0.3481 before support from the broader market kicked in. Ripples XRP made gains through the early afternoon to hit $0.36 levels before a late afternoon bounce. The bounce saw Ripples XRP strike an intraday high $0.38498, breaking through the first major resistance level at $0.3762 before easing back to $0.37 levels late in the day, a broad based rally across the majors driving Ripples XRP through the 2 nd half of the day. At the time of writing, Ripples XRP was down 0.38% to $0.37537, with a start of a day $0.37922 high and morning low $0.37341 leaving the major support and resistance levels untested in whats been a relatively range bound start to the day. For the day ahead, a hold above $0.3730 levels through the morning would support a move back through the morning high $0.37922 to bring $0.38 levels and the first major resistance level at $0.3897 into play before any pullback, the broader crypto market needing another breakout to support a run at $0.40 levels later in the day. Failure to hold above $0.373 levels could see Ripples XRP take a bigger hit later in the day, a fall through to $0.36 levels bringing the first major support level at $0.3592 into play before any recovery, sub-$0.35 support levels unlikely to be in play barring a broad based crypto sell-off. Buy & Sell Cryptocurrency Instantly This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Fundamental Weekly Forecast Introduction of Cold into Forecast Could Bring Back Volatility USD/JPY Fundamental Weekly Forecast Sentiment Shift Should Be Supportive U.S Mortgages Rates and Applications Slide Again Natural Gas Price Futures (NG) Technical Analysis Forecast Change Should Trigger Upside Breakout GBPUSD Price Forecast British Pound To Trade With Positive Bias On US Greenbacks Weakness The Week Ahead Trade, Brexit, Central Banks and Trump in Focus || Founder of Ethereum and ConsenSys Joe Lubin Joins Board of Directors of Crypto Startup ErisX: Founder of blockchain tech company ConsenSys Joseph Lubin has been appointed to the board of directors of cryptocurrency startup ErisX. The news was revealed in an official press release published Jan. 17. Cryptocurrency exchange ErisX is a reboot of a futures market Eris Exchange, originally established in 2010. In December 2018, ErisX raised $27.5 million from Fidelity Investments and Nasdaq Ventures. In 2019, ErisX is expected to being offering both spot trading in Bitcoin ( BTC ), Ethereum ( ETH ) and Litecoin ( LTC ), and futures markets. According to today’s announcement, Lubin has joined ErisX’s board of directors along with fintech entrepreneur Cris Conde. The company highlighted Lubin’s expertise and “extensive background working in the digital asset space.” ConsenSys’ CEO further projected that “2019 is likely to be a breakthrough year for digital assets.” Cris Conde, prior to joining ErisX, was a co-founder of software company Devon Systems, which in 1987 was acquired by SunGard, a provider of software for the financial industry. Under the leadership of Conde, SunGard reportedly became one of the few software and services firms to make the Fortune 500 list. Last month, ErisX announced the appointment of veteran exchange founder Matt Trudeau as its chief strategy officer (CSO). In his new role, Trudeau will reportedly be tasked with exploring new avenues for revenue growth and driving the firm’s market structure efforts. In October, retail brokerage firm TD Ameritrade, along with investing company DRW Holdings and high-speed trader Virtu Financial announced their backing of ErisX. The parties reportedly agreed to become market makers for ErisX, which is expected to ensure a deep order book for the exchange. Related Articles: Crypto Exchange Coinbase Acquires San Francisco-Based Tech Startup Blockspring ConsenSys Joins News Industry Leaders to Invest in New WordPress Publishing Platform ABCC Exchange Partners With Tron to Become First Platform to List TRC10 Tokens Bittrex Follows Major Crypto Exchanges in Launching Over-The-Counter Trading Platform || BTCPayServer Expands Lightning Operability, Integrates Spark Wallet: BTCPayServer Decentralized payment processor BTCPayServer now offers wallet support for c-lightning users. Following its most recent update, the BitPay alternative announced support for Spark Wallet , a client for the Lightning Network's c-lightning implementation created by Bitrated founder and Blockstream contractor Nadav Ivgi. With the implementation into BTCPayServer’s dock, users can now receive c-lightning payments in a Spark Wallet that is connected to their BTCPayServer. 1.0.3.30: * Finally C-Lightning users have a decent wallet! The excellent Spark Wallet by @shesek has been integrated to BTCPay docker deploy! Update and go to "Server settings / Services / Spark wallet" to connect to it :))) * Removal of "Restricted macaroon" in LND configs — BTCPay Server (@BtcpayServer) December 12, 2018 In correspondence with Bitcoin Magazine , BTCPay developer Nicolas Dorier touted Spark Wallet as the best c-lightning client out there, calling it “a great user experience.” He had been mulling over an implementation for some time, too, and thanks to Ivgi prepping the integration for him in advance, the actual pairing of the two protocols took practically no time at all. “For the spark integration, I planned to do it a long time ago, and I talked with Nadav Ivgi several times about it … I was busy on other things, so I delayed the integration. But I started working on it when 2.0 came out one week ago. Integrating it was quite painless. It took me one or two hours. Nadav already prepared what I needed a long time ago.” Users will have the flexibility to use any of Spark’s applications. Whether using Spark’s web, desktop or mobile wallet, users can easily sync their Spark Wallet to their BTCPayServer dashboard with 1-click deployment or by scanning a QR code. Story continues This Spark implementation is the newest iteration in BTCPayServer’s suite of Lightning support. Dorier mentioned in our discussion that the platform supports Lightning Network Daemon, as well, “so that Zap wallet, Joule , or any other lightning wallet for LND can connect to it.” To date, BTCPayServer does not support Lightning Network’s other two implementations, eclair and lit. Launched in 2017, Nicolas Dorier started BTCPayServer to give cryptocurrency users a decentralized alternative to the centralized and custodial BitPay, one of the industry’s most widely adopted payment processors. A year later, the open-source project has posted impressive growth with just shy of 1,600 commits on Github, a growing list of altcoin support (which Dorier told us is “the burden of the respective [altcoin] community) and a respectable list of e-commerce plugins. On the tail-end of the announcement, BTCPayServer also launched its first website , a much needed addition to the initiative. It includes tutorials for setting up your own server, information on various implementations and other helpful documentation surrounding the project. This article originally appeared on Bitcoin Magazine .
[Random Sample of Social Media Buzz (last 60 days)]
Why a Major VC Investor Believes Bitcoin Will Overtake Market Cap of Visa at $302 Billion https://goo.gl/SUocao #Bitcoin #Cryptopic.twitter.com/hGhXdAOsUw || Top 5 Cryptocurrencies - Current Prices
Bitcoin $BTC: $3,594.83 +0.06%
XRP $XRP: $0.311100733 +0.02%
Ethereum $ETH: $115.27 +0.18%
Bitcoin Cash $BCH: $123.84 +0.03%
EOS $EOS: $2.40 +0.14% || 1 BTC = 13589.99942000 BRL em 26/01/2019 ás 20:00:01. #bitcoin #bitcoinbr #bitcoinexchangebr || Pump Alert! - VIBE/BTC on Binance! Price increase: 6.89% | Volume: +10.85% - $VIBE $BTC #binance #crypto #bitcoin #cryptoalerts #cointrendz
More on http://t.me/cointrendz pic.twitter.com/iOHD5t5VYU || NO DEPOSIT: SPIN TILL YOU WIN!
#casino #bonus #freespins #nodeposit #win #slots #tat #bitcoin. CLAIM HERE: http://ow.ly/AuWW50kaQow pic.twitter.com/tV37P8dkQF || Sign up using my invite link and we’ll both receive NGN 250.00 worth of Bitcoin when you deposit money into your Luno wallet and buy or sell Bitcoin to the value of NGN 5,000.00 (Luno exchange not included): https://www.luno.com/invite/ANZVWM || Stacking coin is great & ETH IS "THE" alt!
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http://bit.ly/Plo8sETHcasino pic.twitter.com/DDfgn5PToc || #Bitcoin’s Price Counters the #VIX https://link.medium.com/K1E5pRwDGT #news #crypto || Looking at the #btcusd order books from different exchanges you can see an awful lack of liquidity (without considering hidden orders and money outside the book). On average with $50 million you can do terrible damage to the market and manipulate it at will. #BTC pic.twitter.com/qvSguczQwQ || https://twitter.com/FixToken/status/1084318455216492544 …
#bitcoin #Ethereum #dogecoin #fixtoken #blockchain #ICO #Bounty
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Trend: up || Prices: 3487.95, 3521.06, 3464.01, 3459.15, 3466.36, 3413.77, 3399.47, 3666.78, 3671.20, 3690.19
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2016-06-23]
BTC Price: 623.98, BTC RSI: 49.49
Gold Price: 1261.20, Gold RSI: 48.76
Oil Price: 50.11, Oil RSI: 59.25
[Random Sample of News (last 60 days)]
Bitcoin has a governance problem, no matter who created it: * Bitcoin founder claims provoke fresh bitcoin bickering * System needs to evolve to handle rise in transactions * But lead developers squabble, freeze out one of their peers * System needs "adults" to make decisions - U.S. professor By Jemima Kelly LONDON, May 6 (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. Story continues 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.. 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) || Your first trade for Thursday, June 2: The "Fast Money" traders shared which plays they'd make on Thursday.
Pete Najarian was a buyer of Pandora(NYSE: P).
Karen Finerman was a buyer of Michael Kors(NYSE: KORS).
Brian Kelly was a seller of Freeport-McMoRan(NYSE: FCX).
Guy Adami was a buyer of Lululemon(NASDAQ: LULU).
Trader disclosure: On June 1, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders:Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. Karen Finerman is long BAC, C, DRII, DRII calls, FB, FL, GOOG, GOOGL, JPM, LYV, KORS, KORS, KORS puts, WIFI long call spreads, M, MA, SEDG, SPY puts, URI. Her firm is long ANTM, AAPL, BAC, C, C calls, DRII, DRII calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, KORS puts, LYV, M, MOH, PLCE, SPY puts, URI, WIFI, her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International. Brian Kelly is long Bitcoin, US Dollar; he is short Australian Dollar, Euro, Hong Kong Dollar, Yuan Short. Pete Najarian is long AAPL, BAC, BMY, CSCO, DIS, DISCA, GE, KMI, KMI.A, KO, LUX, MRK, PEP, PFE, SAVE, VIAB, ZIOP Long Calls: AAL, ABBV, AKS, AMJ, C, CSX, EGO, EWZ, GLW, GS, GSAT, HAL, HBAN, KGC, LLY, MDLZ, MSFT, MT, MU, NLNK, P, POT, SLV, SVU, TMUS, UAL, X, YHOO Long Puts: BID, FCX, NAV, SCTY, VLO.
Wolfe Research Sr. Oil & Gas Analyst Paul Sankey: No disclosures.
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• Personal Finance || 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) ' bid for SolarCity (NASDAQ: SCTY) indicates that " Elon Musk doesn'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 his short 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. Story continues 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 Top News and Analysis Latest News Video Personal Finance || 7 Questions and Answers About the Economy: Investors are hit with new headlines every day: a weak jobs report, rising gasoline prices , unconventional election politics. It can be tough to make sense of the barrage of constantly changing news and events. Here is a look at seven key questions investors need to consider now. Are dialed-down forecasts for the U.S. economy a concern? Slower economic growth is, of course, a worry. "Actually, it's the whole ball game," says Guy LeBas, chief fixed income strategist at Janney Montgomery Scott in Philadelphia. "The real story, however, is much longer term than 2016. With population growth running about one third the rate it was in the 1980s and 1990s, and productivity gains still slowing, it's likely economic growth will only average 1.6 to 1.8 percent, even in relatively good times. In this context, 2016 is actually one of those 'good times,' when the economy is neither running too hot nor too cold." [See: The 10 Best REIT ETFs on the Market .] How could Federal Reserve rate hikes impact the economy this year? The surprisingly weak May employment report, which revealed only 38,000 new jobs were added last month, pushed the odds of a Fed rate increase at this week's meeting to less than 4 percent, according to Fed funds futures markets. Analysts are now pointing to the July Fed meeting as the next potential window for an interest rate increase. "If the jobs report proves to be an outlier, and we have a decent return next month, we are more likely to see a rate hike in July. We put that at about a 50-50 chance right now," says Hank Smith, chief investment officer at Haverford Trust. Even if the Fed hikes rates once or twice this year, it won't affect lending or economic activity, and won't be that big of a deal, Smith says. "The lower-for-longer environment will continue along with sub-average growth and a low probability of recession," he says. "Those themes remain in place with or without any rate hikes." What are the positive factors for the U.S. economy in the second half? There are bright spots. Consumer spending continues to grow and housing also continues to improve, says Brad McMillan, chief investment officer for Commonwealth Financial Network. "Strong underlying trends should support continued growth in both of these areas, with wages and household formation doing well. With consumers starting to spend, despite the poor recent job trends, the possibility of an acceleration in growth is real." Story continues Another shift from last year is the weaker U.S. dollar, which can offer a positive economic boost. "The weaker dollar should be a tailwind for exports and manufacturing after it was a big headwind from 2014 through early 2016," says John Canally, vice president at LPL Financial. What could the presidential election mean for the stock market? A market can deal with good news and bad news because it can price certainty, says John Conlon, chief equity strategist at People's United Wealth Management. "It does not like uncertainty. "This election is generating more uncertainty than any other in my lifetime because the range of candidate policies is wider than it has even been," McMillan says. "Rather than a typical center-left, center-right pair of candidates, you have one candidate being pulled to the left and another committed to policies outside the normal range. Business is reacting rationally by holding off decisions until more certainty is available -- a trend which is unlikely to subside until the election, and maybe not then." Heading into the July party conventions rhetoric remains high, "which makes it too early to truly have an understanding of each candidate's impact on the economy or sectors. This could all change on a dime, though, if the election results in a unified Congress and president," Smith says. [See: 9 Ways to Harness the Growth of Latin America .] Control of Congress will be important, Canally says. "The market has lately favored divided government, and if Mrs. Clinton wins, the Democrats are likely to retake the Senate, but unless it is a landslide win for Clinton, the GOP should hold the House, maintaining a divided government." What risks does the economy face in the second half? Risks for the economy are always present and can be either known risks or those that are unforeseen, says Bill Northey, a chief investment officer with The Private Client Group of U.S. Bank based in Helena, Montana. Northey lists the top known risk as capital market dislocation following a potential U.K. vote scheduled for next week that could have it exiting the European Union. Other risks include the loss of business and/or consumer confidence due to an acrimonious election cycle, which results in spending and investment paralysis, as well as a policy error by the Federal Reserve, he says. Where do analysts see the Standard & Poor's 500 index at the end of the year? Brace for choppy, back-and-forth action in the stock market. The Private Client Group of U.S. Bank pegs the year-end price target for the S&P 500 near current levels at 2,100. "Election cycle dynamics introduce a degree of uncertainty for the markets that will likely generate more volatility and keep a lid on near-term performance. We expect the stocks to trade in a sideways range until after the election, which will remove uncertainty," Northey says. "Additionally, the focus will shift to 2017 earnings where the resumption of earnings growth can provide some buoyancy to the equity market," he says What are the best money moves for investors? This is a year in which the markets may grind to a moderate single-digit returns, Smith says. "We aren't looking for huge returns on equities so investors should position themselves defensively," he says. "We like names that are blue-chip companies with better-than-bond dividends. You can still find plenty of names that have dividends that beat the 10-year yield." Stay focused on your long-term objectives and use the current environment as a check for your appetite for risk, Conlon says. He agrees that investor expectations should be adjusted down to single-digit returns due to slow economic growth and an average market valuation that is not cheap. [Read: Bitcoin's Novelty is Spent .] Conlon likes the energy and industrial sectors right now. "The energy sector due to the recovery in oil prices and the approaching crossing of supply with demand. Industrials due to low valuations, high cash flow, and attractive dividend yields," he says. More From US News & World Report The 9 Best Investors of All Time 8 Easy Ways to Make Money 11 Stocks That Donald Trump Loves || Bitcoin has a governance problem, no matter who created it: (Repeats Friday item) * Bitcoin founder claims provoke fresh bitcoin bickering * System needs to evolve to handle rise in transactions * But lead developers squabble, freeze out one of their peers * System needs "adults" to make decisions - U.S. professor By Jemima Kelly LONDON, May 6 (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. The first computer to solve the puzzle clears the transaction and is currently rewarded with 25 new bitcoins, now worth around $11,250.. 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. Story continues 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) 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 [email protected] . 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 || Australian says he created bitcoin, but some sceptical: By Byron Kaye and Jemima Kelly SYDNEY/LONDON (Reuters) - Australian tech entrepreneur Craig Wright identified himself as the creator of controversial digital currency bitcoin on Monday but experts were divided over whether he really was the elusive person who has gone by the name of Satoshi Nakamoto until now. Uncovering Nakamoto's real identity would solve a riddle dating back to the publication of the open source software behind the cryptocurrency in 2008, before its launch a year later. Bitcoin has since become the world's most commonly used virtual currency, attracting the interest of banks, speculators, criminals and regulators. Worth a total of $7 billion at current levels, it fell more than 3 percent on Monday -- a normal intraday move for the volatile currency -- after the news, to below $440 from around $455, before recovering slightly. Some online commentators suggested bitcoin's creator could help resolve a bitter row among the currency's software developers that threatens its future. But Wright made no reference to the row in a BBC interview identifying himself as Nakamoto, and as the protocol bitcoin runs on is open-source and cannot be controlled by any one person, it is unclear whether he would be able to influence the way it develops. "I was the main part of it, other people helped me," Wright, who is now living in London, told the BBC. "Some people will believe, Some people won't, and to tell you the truth, I don't really care," he said. Many bitcoiners said Wright had not done enough to definitively prove that he was Nakamoto, who maintained his anonymity throughout his involvement with bitcoin, which he stepped away from in 2011. But Gavin Andresen, who Nakamoto chose to succeed him, published a blog post in which he described meeting Wright last month and said he is convinced beyond a reasonable doubt that the Australian is Nakamoto. Jon Matonis, a founding director of the Bitcoin Foundation now works as a bitcoin consultant, wrote a blog post on Monday which, like Andresens, supported Wrights claims. According to me, the proof is conclusive and I have no doubt that Craig Steven Wright is the person behind the Bitcoin technology, Nakamoto consensus, and the Satoshi Nakamoto name, Matonis wrote. He and Andresen also confirmed they had been responsible for their respective blog posts to Reuters directly. LEGACY Nakamoto's biggest likely legacy lies well beyond his control. The blockchain technology that underpins the currency could transform the way banks settle transactions, the way that property rights and other vital data are recorded, and provide a way for central banks to issue their own digital currencies. The BBC reported on Monday that Wright gave some technical proof demonstrating that he had access to blocks of bitcoins known to have been created by bitcoin's creator. Researchers believe Nakamoto may be holding up to one million of the more than 15 million bitcoins currently in circulation, which would make the creator worth around $440 million. In a blog post also dated Monday, Wright posted an example of a signature used by Nakamoto and an explanation of how bitcoin transactions are verified and thanked all those who had supported the project from its inception. "This incredible communitys passion and intellect and perseverance have taken my small contribution and nurtured it, enhanced it, breathed life into it," he wrote. However he did not state directly that he was Nakamoto. "Satoshi is dead," he said. "But this is only the beginning." Bitcoin expert Peter Van Valkenburgh, director of research at Washington, D.C.-based advocacy group Coin Center, said a new message cryptographically signed using the private key associated with the so-called Genesis block, the first ever "mined" would have been more convincing. The currency's "miners" are incentivised to process transactions every 10 minutes by a possible reward of bitcoins (25 currently), which is how new bitcoins are created. Wright also spoke with The Economist, but declined requests from the magazine to provide further proof that he was Nakamoto. His representatives told Reuters he would not be taking part in more media interviews for the time being. "Our conclusion is that Mr Wright could well be Mr Nakamoto, but that important questions remain," The Economist said. "Indeed, it may never be possible to establish beyond reasonable doubt who really created bitcoin. Hopes that bitcoin would become broadly used helped buoy its price to more than $1,000 in December 2013, when its market capitalisation was $13 billion compared with today's $7 billion. Wright told The Economist he would exchange bitcoin he owns slowly to avoid pushing down its price. HOME RAIDED In December, police raided Wright's Sydney home and office after Wired magazine named him as the probable creator of bitcoin and holder of hundreds of millions of dollars worth of the cryptocurrency. At the time he made no comment. The treatment of bitcoins for tax purposes in Australia has been the subject of considerable debate. The Australian Tax Office (ATO) ruled in December 2014 that cryptocurrency should be considered an asset, rather than a currency, for capital gains tax purposes. On Monday, the ATO said it had no comment while police were not immediately available for comment. If Wright is Nakamoto he "is now the leader of a movement", said Roberto Capodieci, a Singapore-based entrepreneur working on the blockchain, the technology underlying the currency. That movement ranges from libertarian enthusiasts to central banks experimenting with digital currencies, all of which pay homage in some way to Nakamoto's writings. (Additional reporting by Jeremy Wagstaff in Singapore, Matt Siegel in Sydney and Paul Sandle in London; Editing by Nick Macfie, Raju Gopalakrishnan and Philippa Fletcher) || Coin Citadel to Acquire over $700,000 in Bitcoins: LOS ANGELES, CA / ACCESSWIRE / May 16, 2016 / Coin Citadel ( CCTL ), a holding company, is closing in on acquiring over $750,000 in Bitcoins. We are diligently working on finalizing a transaction for 1,675 Bitcoins which will bring our Bitcoin assets up to 2,251 Bitcoins and closer to a value of one million dollars USD. This will be a Non-dilutive preferred stock transaction. We are extremely excited to be in the Bitcoin Industry. We feel we are in the right place at the right time. We plan to announce more details of this transaction, as well as two additional asset acquisitions, later this week. New CEO James Pulver stated, "As I said in our last press release, my job is to add value to the company, and to take advantage of opportunities like this. The more prudent acquisitions we make, and assets we have, the more valuable our company will be. With this Bitcoin asset, we will have over $1 million dollars in Bitcoins to complement our new upcoming acquisitions. With everything falling into place we feel we are moving forward in the right direction." We would also like to update shareholders, as well as working on getting the company back to a current status on OTCmarkets.com. We want to open other lines of communication with shareholders, through social media such as Twitter, and Facebook. Please be on the lookout for news, filings, and other updates coming shortly. Forward-Looking Statement: Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation. Story continues Contact: James Pulver, CEO SOURCE: Coin Citadel || We could be set for a 'brave new world' of stock trading: (Wikipedia)
Wall Street is excited about Blockchain.
Nasdaq CEO Bob Greifeld has said his companyneeds to be a "rapid applier" of the technology.Autonomous Research has called the technology a "game changer." Goldman Sachs has saidthe use of blockchain technology instock trading could result in $6 billion in industry cost savings globally.
There's no shortage of hype, but widespread implementation is still a long way away in the highly regulated financial services industry.
While the rest of Wall Street watches, the Australia Securities Exchange (ASX) is pioneering the attempt to implement blockchain technology in a large scale market.
The exchange is looking at replacing its clearing and settlement system with a blockchain solution, and will make a decision on whether to go through with the change by mid-2017.
"The securities industry is experimenting with blockchain across the post-trade market," Morgan Stanley said in a research note titled 'Blockchain - Is ASX set to shape a brave new world?'
"Within equities, the most progressed of these is the ASX-planned replacement of the central depository (CSD) with a blockchain solution. If successful, the implications could be significant across the securities value chain."
Blockchain uses computers with advanced encryption to keep track of transactions, and the use of a blockchain solution in clearing and settlement has the potential to reduce costs, save time, and cut complexity.
Goldman Sachs set out how thiscould work in a recent note.It said:
Essentially, by enforcing agreement at the time of entry, blockchain could eliminate some of the most common post-trade issues and errors, such as incorrect settlement instructions or incorrect account/order details. Today, these details are confirmed/affirmed by multiple parties (DTCC, custodians, broker/dealer, clients) and multiple times throughout the life cycle of the trade. If blockchain could be fully implemented across these parties, many of these attributes could be included in a smart contract, thus becoming a pre-trade requirement to execute an order rather than a downstream, post-trade check that requires multiple parties to agree.
The US bank said this would reduce duplications in affirming and reconciling trades, and help save the industry $6 billion globally.
There are challenges however. The size and fragmented structure of stock markets in the US and European Union could slow the adoption of blockchain technology for example, according to Morgan Stanley. There are regulatory concerns too.
This will only work on a large scale if global exchanges decide to follow suit and adopt the same standards.Without this, the market risks ending up with multiple systems with similar cost challenges as those faced today.
That means the world will be watching what happens in Australia.
"If the ASX "flicks the switch", this would increase the pace of innovation and disruption risk to the post-trade securities market,' Morgan Stanley said.
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• A hot stock-trading startup is venturing into China || Why Shares of Fintech Lenders OnDeck and Lending Club Are Getting Crushed: OnDeck might not have been ready for the major leagues. Shares of OnDeck Capital were down 34% on Tuesday, to $5.50. That caps a tumble that has left the stock off 70% since its IPO nearly a year-and-a-half ago. The source of the pain on Tuesday for the online lender was its first quarter earnings. On Monday afternoon, OnDeck said it lost nearly $13 million in Q1, up from a loss of just over $5 million a year ago. The loss was also larger than analysts were expecting. The $13 million loss is far from life-threatening, though it is concerning. OnDeck blew through $28 million in cash in the first quarter, though it still has $170 million in the bank. The bigger concern is its business model. OnDeck makes loans to small businesses. And lending has been going well. Loans rose by $100 million in the past year. Originally the thought was OnDeck and others were going to eat the lunch of the large banks which are lumbering and weighed down by regulations. Historically it has sold many of those loans off to investors. Yet, in the first quarter the percentage of loans that OnDeck offloaded to investors fell to 26% from 40% a year ago. What’s more, the profits OnDeck got from selling the loans dropped. The problem is that the fintech lenders are having more difficulty finding buyers for their loans. And investors seem to be nervous this is not just an OnDeck problem. Shares of Lending Club dropped 10% on Tuesday on fears that it will report the same problem when it discloses what it earned in the first quarter next week. Other fintech lenders have been struggling with what to do about the fact that buyers for their loans--hedge funds and other investors--appear to be drying up. Another fintech lender SoFi has started a hedge fund with its own money to invest in the loans it is making. Putting the loans in a hedge fund makes the loans effectively disappear from their books, even though Sofi still owns the risk. The arrangement has reminded some of the types of deals Bear Stearns and others set up in the run up to the financial crisis . Story continues As long as the market and regulators treat OnDeck and its rivals as tech companies none of this might be a problem. But regulators have started to hint that they are going to take a closer look at fintech companies and whether they should be regulated like banks. If regulators decide they should be, then OnDeck and others will have to meet the same capital rules that banks do, which will put a ceiling on how much they can lend, if they can’t find genuine third-party investors willing to take a good deal of that risk off of their hands. At the same time, investors no longer seem willing, like they do with other tech stocks, like say Amazon, to stick around while OnDeck continues to have losses. That doesn’t mean the stock is cheap. OnDeck’s shares, after Tuesday’s drop, have a price-to-book ratio of 1.20. J.P. Morgan Chase , by comparison, which has invested in OnDeck, has a P/B ratio of 1.05. OnDeck’s shares would drop to $4.80 if it traded at a similar multiple. But even that might be generous. Bank of America’s P/B is 0.7. If OnDeck’s shares traded at that multiple, they would sink to $3.20. If OnDeck is going to be treated more like a bank, the problem is shares will likely trade like one too. See original article on Fortune.com More from Fortune.com This Millennial CEO Thinks the Loan System for Small Businesses Is Broken The Big Flaw Few are Talking About in Fintech Barclays Is Getting Into Bitcoin With Goldman-Backed Circle Slack Users Will Be Able to Pay One Another Using This Bot Japan Looks to Kickstart 'Fintech' Revolution
[Random Sample of Social Media Buzz (last 60 days)]
1 #bitcoin está custando R$1751.72 na FoxBit. Acesse http://bit.ly/FoxBit e negocie com as menores taxas do Brasil. || LIVE: Profit = $429.88 (5.48 %). BUY B18.96 @ $420.00 (#VirCurex). SELL @ $436.99 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || Current price of Bitcoin is $537.00. || LIVE: Profit = $739.14 (9.42 %). BUY B18.96 @ $420.00 (#VirCurex). SELL @ $454.14 (#Kraken) #bitcoin #btc - http://www.projectcoin.org || BTCTurk 2408.9 TL BTCe 724.78 $ CampBx $ BitStamp 754.00 $ Cavirtex $ CEXIO 755 $ Bitcoin.de 663.81 € #Bitcoin #btc || 1 #bitcoin 2407.7 TL, 729.771 $, 675.000 €, GBP, 43700.00 RUR, 79879 ¥, CNH, CAD #btc || Goedkoopste Nederlandse aanbieder op dit moment is Clevercoin (http://www.bitcoinweb.nl/kopen-clevercoin …) - 375.00 Euro/bitcoin - http://www.bitcoinweb.nl/prijzen-bitcoins-vergelijken/ … || #TrinityCoin #TTY $ 0.000006 (0.75 %) 0.00000001 BTC (-0.00 %) || Heute, 20.06.2016 19:00, 55. Bitcoin Austria Treffen Wien, SBA Research, Favoritenstraße 16 http://www.meetup.com/Bitcoin-Austria/events/231861485 … || LIVE: Profit = $659.02 (8.23 %). BUY B19.39 @ $420.00 (#VirCurex). SELL @ $447.59 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org
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Trend: no change || Prices: 665.30, 665.12, 629.37, 655.28, 647.00, 639.89, 673.34, 676.30, 703.70, 658.66
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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 for 2017-09-26]
BTC Price: 3892.35, BTC RSI: 49.30
Gold Price: 1297.00, Gold RSI: 45.91
Oil Price: 51.88, Oil RSI: 66.91
[Random Sample of News (last 60 days)]
Mark Cuban is backing a new cryptocurrency fund months after calling bitcoin a 'bubble': (Mark Cuban speaking at the 2015 Wall Street Journal Digital Live conference.Mike Blake/Reuters)
Mark Cuban is singing a different tune when it comes to cryptocurrencies.
The tech billionaire and "Shark Tank" star is an early backer of a new cryptocurrency fund,according to CoinDesk, which reports on blockchain and cryptocurrency news.
The fund, 1confirmation, launched Tuesday, plans to invest exclusively in cryptocurrency assets, according to a filing withthe Securities and Exchange Commission. Its founder, Nick Tomaino, a principal at the $270 million Palo Alto-based investor Runa Capital, is looking to raise $20 million.
"I think Nick is one of the sharpest minds in the space, and I'm a big believer that there will be transformational apps built on blockchain," Cuban told CoinDesk.
Cuban said in a tweet last week that he was looking to jump on the bitcoin bandwagon:
Cuban's financial interest in the digital-currency world is an about-face for the billionaire, who two months ago called it a "bubble." In early June, soon after bitcoin hit what was then a near record high of $2,900 a coin, Cuban warned of a coming correction:
Cuban then turned his focus to cryptocurrencies as a whole:
Cuban's change of heart represents a pivot across Wall Street. Financial firms and institutional investors are waking up to the profit potential in cryptocurrencies as bitcoin and ether, its rival powered by the Ethereum blockchain, reach new heights — they're up more than 350% and 2,000%, respectively, since the beginning of the year.
For instance, VanEck, the New York-based money manager with $24.7 billion in assets, is seeking to launch a bitcoin exchange-traded fund, according to an August 11 SECpreliminary filing. Additionally, Goldman Sachs is telling clients that cryptocurrencies are worth their attention.
In a recent note to portfolio managers, the Goldman analystRobert Boroujerdi and his teamwrote:
"With the total value nearly $120 billion, it's getting harder for institutional investors to ignore cryptocurrencies. Whether or not you believe in the merit of investing in cryptocurrencies (you know who you are) real dollars are at work here and warrant watching especially in light of the growing world of initial coin offerings (ICOs) and fundraising that now exceeds Internet Angel and Seed investing."
ICOs, a fundraising method powered by blockchain, have raised over $1.8 billion since the beginning of the year, according to Autonomous Next, a fintech-analytics firm.
According to CoinDesk, 1confirmation "will make initial investments in the $100,000 to $500,000 range" in "legal vehicles designed to help investors pre-purchase tokens or equity prior to an ICO."
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• Bitcoin is back above $4,000 || 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)
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).
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)
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)
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)
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)
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 2017From 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>>
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-SP 500 TR (SPY): ETF Research ReportsISHRS-CORE DG (DGRO): ETF Research ReportsVANGD-DIV APPRC (VIG): ETF Research ReportsGUGG-SP5 EQ ETF (RSP): ETF Research ReportsGUGG-SP 500 PV (RPV): ETF Research ReportsPWRSH-FTSE RAFI (PRF): 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 || Microsoft is testing a feature to let you control parts of Windows 10 with your eyes: Microsoft (NASDAQ: MSFT) is testing a Windows 10 feature that allows people to control features of the operating system with their eyes. Eye Control is aimed at "empowering people with disabilities to operate an on-screen mouse, keyboard, and text-to-speech experience using only their eyes," Microsoft said in a blog post on Wednesday. Users require eye tracking hardware by Tobii in order to try out the feature. When Eye Control is launched a box appears allowing a user to choose to control the mouse, keyboard or text-to-speech feature with their eyes. When the mouse function is selected, a user has to look at what they want to click on then select, again with their eyes, what action they want to take such as a left click or right click. Typing works in a similar way. Users need to look at letters that they want to type. But Microsoft is also trialing a feature called "shape-writing" to help people type faster with their eyes. "You can form words by dwelling at the first and last character of the word, and simply glancing at letters in between. A hint of the word predicted will appear on the last key of the word," Microsoft explained. The feature is currently in the beta testing stage for the so-called Windows 10 Insider Preview Build, which is available for select users. More From CNBC 'Bitcoin cash' potential limited, but a looming catalyst could help it take off Apple's China revenues fall 10% as analyst claims iPhone has 'gone out of fashion' China's ride-sharing giant Didi Chuxing is backing Uber's biggest rival in Europe || The Day Ahead: Brexit, Bitcoin, Opec Meeting: Investing.com – Here’s a preview of the top 3 things that could rock markets tomorrow
Opec meeting gets underway
Members of the Organization of the Petroleum Exporting Countries and other major producers will meet Friday in Vienna to discuss the market impact of the production-cut agreement and progress toward rebalancing supply and demand.
The meeting comes amid growing investor optimism on a possible extension to the Opec-led agreement to cut oil output.
In May, Opec and non-Opec members agreed to extend production cuts of 1.8m barrels per day for a period of nine months until March 2018 but rising production from the U.S., Nigeria and Libya has undermined the oil cartel’s efforts to curb excess supply.
On the New York Mercantile Exchange , crude futures for November delivery fell 14 cents to settle at $50.55 a barrel.
Cryptocurrency exodus to gather pace?
Bitcoin's sharp rally from its dip below $3,000 following the Chinese ban local exchanges is nothing short of extraordinary but the digital currency has since pared its post-china ban gains, leaving many investors doubting the strength of the recovery.
In the midst of uncertainty surrounding the strength of the Bitcoin’s recovery, proponents of the popular digital currency are adamant that the China-ban is a minor setback as China’s grip on the global bitcoin exchange market pales in comparison to that of its East Asian counterpart.
Japan is the largest bitcoin exchange market with 50.75% of the global Bitcoin exchange market while the Chinese bitcoin exchange market accounts for less than 5% of global trade.
British Prime Minister Theresa May talks ‘brexit’
British Prime Minister Theresa May is expected to deliver an update on Brexit negotiations on Friday.
In the run up to Mrs May critical speech, however, negotiations between Britain’s Brexit Secretary David Davis and the EU’s negotiator Michel Barnier have since soured, with the latter urging Britain to start “negotiating seriously”.
In a further sign of souring relations between the two negotiating parties it is understood that no European Commission officials will be travelling to attend Mrs May’s speech.
The pound has managed to sidestep most of the Brexit ‘noise’, taking its cue from the Bank of England (BoE) amid growing expectations that the BoE will hike rates in November.
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Today's clean energy ETF performance || Dow Jones Hits a New Record Despite Inflation Fears: U.S. equities mostly finished lower on Thursday as the bulls cooled their heels after a multi-day push to new record highs. Hopes for a bipartisan deal on taxes dimmed slightly after President Donald Trump and Congressional Democrats differed on whether border wall funding would be part of the agreement.
In the end, theDow Jones Industrial Averagegained 0.2%, theS&P 500lost 0.1%, theNasdaq Compositelost 0.5% and theRussell 2000lost 0.1%. Treasury bonds were largely unchanged, the dollar weakened, gold gained 0.1% and oil extended its recent rally gaining 1.2%.
Click to Enlarge
Breadth was slightly positive with volume at 113% of the NYSE’s 30-day average. Utilities led the way with a 0.9% gain while consumer discretionary stocks were the laggards, down 0.5%.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
ATV makerPolaris Industries(NYSE:PII) gained 4.3% after saying its July-August sales were up double digits year-over-year on strong promotional activity.Hertz(NYSE:HTZ) fell 12.4% after being downgraded to neutral at Morgan Stanley on valuation and industry concerns.
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On the economic front, Consumer Price Inflation data beat estimates rising 0.4% from the month prior pushing the annual rate to 1.9%. Gasoline and shelter costs drove the gains with the latter rising at its quickest pace since October 2005. Societe Generale’s Omair Sharif believes the result is “exactly what Federal Reserve officials were hoping to see” as it should partially ease their concerns about a recent run of weak inflation readings dismissed as idiosyncratic (related to things like competitionbetween cellphone providers).
As a reminder, the Federal Reserve will hold a policy meeting next Wednesday where they are widely expected to start the processes of pulling back their $4.4 trillion balance sheet via a “quantitative tightening” program.
Much of the action of the past 24 hours has been outside of stocks and outside of the United States. Bitcoin was crushed, down 14.3% today to $3,319, amid a deepening regulatory crackdown in China. Chinese economic data also missed estimates by the largest amount in six months.
But the focus will soon return with the Fed on track to start the process of reversing years of bond-buying stimulus and ultra-low rates. What’s the motivation? In a word, housing. Which, along with stocks, is looking increasingly bubbly in areas like my hometown of Seattle (all thatAmazon.com, Inc.(NASDAQ:AMZN) money).
The futures market responded by pushing up the odds of a December Fed rate hike to better-than-even 51% odds (up from 41.3% on Wednesday). Higher interest rates are coming, it seems.
Check out Serge Berger’sTrade of the Dayfor Sept. 14!
To see a list of the companies reporting earnings today,click here.
For a list of this week’s economic reports due out,click here.
Tell us what you think about this article! Drop us an email [email protected],chat with us on Twitter at@InvestorPlaceorcomment on the post on Facebook. Read more about ourcomments policy here.
Anthony Mirhaydari is the founder of theEdge(ETFs) andEdge Pro(Options) investment advisory newsletters.Free two- and four-week trial offers have been extended to InvestorPlace readers.
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The postDow Jones Hits a New Record Despite Inflation Fearsappeared first onInvestorPlace. || JP Morgan strategist calls cryptocurrency markets Pyramid schemes: JPMorgan ( JPM ) strategist Marko Kolanovic has some strong words for the cryptocurrency markets that are dominating the conversation right now, using the two words no one in the investing world ever wants to see: pyramid scheme. “Cryptocurrencies cannot be reliably valued and they have significant ‘tail risk’ that could come in the form of a regulatory ban,” said Kolanovic in a note published Wednesday. “Moreover, the whole cryptocurrency market exhibits some parallels to fraudulent pyramid schemes.” Most simply, a pyramid scheme is one in which members of a sales network are incentivized financially to grow the network instead of making sales. Pyramid schemes are illegal. Literal pyramids. Pyramid schemes are often associated with door-to-door sales networks. In 2012, Bill Ackman famously made a three-hour presentation arguing that multi-level marketing firm Herbalife ( HLF ) was a pyramid scheme and would go to $0; shares of Herbalife were trading near $70 on Wednesday. In essence, Kolanovic is saying that the scarcity of bitcoin some evangelists cite as bolstering the cryptocurrency’s value actually illuminates the pyramid-like nature of the scheme. Because if it is unprofitable to mine new bitcoin, then it follows that new or prospective bitcoin buyers might ask whether they are really getting something of value in buying existing bitcoin or simply enriching the early owners who own a disproportionate amount of the asset. Additionally, the proliferation of cryptocurrencies we’ve seen of late — Kolanovic estimates the market is now about $150 billion in size — indicates that players in the space may merely be extracting value from new members (read: crypto investors) and not actually creating cryptocurrencies which are worth anything. Kolanovic writes that, in the case of bitcoin, “it is believed that an unknown person (or persons) known as ‘Satoshi Nakamoto’, before disappearing, mined the first 1-2 million coins, or ~10% of the coins that will ever exist ($4-8 billion current value). While initial mining requires a negligible effort, the benefits for subsequent participants start diminishing. Mining becomes progressively more difficult, and eventually unprofitable, marking the likely end of a scheme.” Story continues Like a pyramid scheme, then, the values accrue up the chain while the losses flow down. Kolanovic says a possible workaround would be to just create a new coin, adding that, “This can work as long as there are enough willing and uninformed buyers.” “Worse than tulip bulbs” On Tuesday, Kolanovic’s boss Jamie Dimon — CEO of the Wall Street bank — said the bitcoin craze we’ve seen this year is “worse than tulip bulbs,” a reference to the tulip mania of the 1600s. Dimon added that , “if [JPMorgan] had a trader who traded bitcoin I’d fire them in a second. For two reasons: It’s against our rules, and they’re stupid. Both are dangerous.” Critics of Dimon’s comments will note that Dimon both “doesn’t get” bitcoin and that, if bitcoin and related technologies are going to undermine the primacy of the modern banking system, he would of course dismiss it. Elsewhere on Tuesday, Bank of America Merrill Lynch’s latest fund manager survey indicated that going long bitcoin is seen as the market’s most crowded trade right now. Investment manager Patrick O’Shaughnessy also said Tuesday that after a presentation on value investing delivered to a room of investment industry pros, the first question was about bitcoin. Betting on Bitcoin is Wall Street’s most crowded trade right now. The technology that enables bitcoin Now, those steeped in the cryptocurrency space will say that the price of bitcoin — currently down 6% on Tuesday to around $3,900 but still up about 300% this year alone — is not as relevant as the blockchain technology underwriting bitcoin. A blockchain is a distributed, immutable ledger for recording data or executing smart contracts — effectively a set of characters unique to a transaction executed on the blockchain. And so the enthusiasm around bitcoin is largely an enthusiasm around our transactions moving to execution via blockchain rather than, say, through existing financial institutions. And as Kolanovic writes, “Developments arounds distributed ledgers and the concept of digital currencies are fascinating from a technological point of view. It is likely that some of these technologies will become very valuable.” Bitcoin just might not be the thing that matters. — Myles Udland is a writer at Yahoo Finance. Follow him on Twitter @MylesUdland Read more from Myles here: America’s shortage of workers is about to get ‘much worse’ The government can’t stop people from making the single-biggest investing mistake It’s never been harder to fill a job in America Berkshire’s Bank of America win is more proof you can’t invest like Buffett Two charts show why the stock market today is nothing like the tech bubble || 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.
"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) || Dow Jones Hits a New Record Despite Inflation Fears: U.S. equities mostly finished lower on Thursday as the bulls cooled their heels after a multi-day push to new record highs. Hopes for a bipartisan deal on taxes dimmed slightly after President Donald Trump and Congressional Democrats differed on whether border wall funding would be part of the agreement. In the end, the Dow Jones Industrial Average gained 0.2%, the S&P 500 lost 0.1%, the Nasdaq Composite lost 0.5% and the Russell 2000 lost 0.1%. Treasury bonds were largely unchanged, the dollar weakened, gold gained 0.1% and oil extended its recent rally gaining 1.2%. Click to Enlarge Breadth was slightly positive with volume at 113% of the NYSE’s 30-day average. Utilities led the way with a 0.9% gain while consumer discretionary stocks were the laggards, down 0.5%. InvestorPlace - Stock Market News, Stock Advice & Trading Tips ATV maker Polaris Industries (NYSE: PII ) gained 4.3% after saying its July-August sales were up double digits year-over-year on strong promotional activity. Hertz (NYSE: HTZ ) fell 12.4% after being downgraded to neutral at Morgan Stanley on valuation and industry concerns. 7 Dividend-Growing REITs That Cost Next to Nothing On the economic front, Consumer Price Inflation data beat estimates rising 0.4% from the month prior pushing the annual rate to 1.9%. Gasoline and shelter costs drove the gains with the latter rising at its quickest pace since October 2005. Societe Generale’s Omair Sharif believes the result is “exactly what Federal Reserve officials were hoping to see” as it should partially ease their concerns about a recent run of weak inflation readings dismissed as idiosyncratic (related to things like competition between cellphone providers ). As a reminder, the Federal Reserve will hold a policy meeting next Wednesday where they are widely expected to start the processes of pulling back their $4.4 trillion balance sheet via a “quantitative tightening” program. Story continues Conclusion Much of the action of the past 24 hours has been outside of stocks and outside of the United States. Bitcoin was crushed, down 14.3% today to $3,319, amid a deepening regulatory crackdown in China. Chinese economic data also missed estimates by the largest amount in six months. But the focus will soon return with the Fed on track to start the process of reversing years of bond-buying stimulus and ultra-low rates. What’s the motivation? In a word, housing. Which, along with stocks, is looking increasingly bubbly in areas like my hometown of Seattle (all that Amazon.com, Inc. (NASDAQ: AMZN ) money). The futures market responded by pushing up the odds of a December Fed rate hike to better-than-even 51% odds (up from 41.3% on Wednesday). Higher interest rates are coming, it seems. Check out Serge Berger’s Trade of the Day for Sept. 14! Today’s Trading Landscape To see a list of the companies reporting earnings today, click here . For a list of this week’s economic reports due out, click here . Tell us what you think about this article! Drop us an email at [email protected] , chat with us on Twitter at @InvestorPlace or comment on the post on Facebook . Read more about our comments policy here . Anthony Mirhaydari is the founder of the Edge (ETFs) and Edge Pro (Options) investment advisory newsletters. Free two- and four-week trial offers have been extended to InvestorPlace readers. More From InvestorPlace 3 Stocks Going Up That Should Be Going Down These Are the Only 5 Funds You’ll Ever Need 10 Products Apple Inc. (AAPL) Has Killed The post Dow Jones Hits a New Record Despite Inflation Fears appeared first on InvestorPlace . || Investors can now make trades on Yahoo Finance: It's no longer just a place to look up stock market data and company news. Yahoo Finance is now introducing trading directly via its app. With 75 million monthly active users, Yahoo Finance (our sister brand) has become a popular home for all things investing, other than investing itself. Now the group is introducing a partnership with TradeIt, which allows users to sync their brokerage portfolios so they can buy and sell stocks without leaving the app. The new feature will work for clients of Fidelity, Scottrade, E-Trade and other services. Users just have to select the "link broker accounts" tab on the app to get started. " We are trying to make sure that we’re always as effective as possible," said YF's head of product, Michael La Guardia. He said they're hoping to " provide for more value for the people that are using the app." La Guardia says that they are not planning to make any money directly off the users, but that they hope the integration will encourage people to remain active on Yahoo Finance platforms. Advertising will remain one of the primary drivers of revenue. While Yahoo Finance has long been one of the standout Yahoo brands, there's a competitive landscape for financial data. There's some overlap between its offerings and that found on Google Finance or Morningstar. But Yahoo Finance believes some of its added value comes from its news team, which provides breaking news alerts and also context behind the numbers. And the new integration will help it take on Robinhood, a popular stock-trading app. They're also moving beyond equities. You can now follow categories like values investing or keep tabs on cryptocurrencies like Ethereum and Bitcoin. " You’re going to be seeing more coming from us," said La Guardia. || Ethereum jumps 10% amid worries about bitcoin in a wild day for digital currencies: Digital currency ethereum climbed Monday to a near two-month high amid renewed uncertainty about the future of bitcoin.
Ethereum(Exchange: ETH=)traded about 10 percent higher near $330 Monday afternoon, after earlier rising 15 percent to $347.05, its highest since June 23, according to CoinMarketCap. At its session high, the site's data showed ethereum had gained 70 percent for the month and more than 4,000 percent for the year.
"I think the gains in ethereum are part of the market's reaction to the increasingly fractured bitcoin community," said Benjamin Roberts, co-founder and CEO of Citizen Hex, an ethereum-focused start-up backed by three Canadian venture funds.
Ethereum 7-day performance
Source: CoinMarketCap
Bitcoin(Exchange: BTC=-USS)traded more than 1 percent lower near $4,055.88, according to CoinDesk, well off a record high of $4,522.13 hit last Thursday. Even with the last few days' decline of about $500, bitcoin remained about 40 percent higher for August and more than quadruple in value for the year.
The decline in price came as digital currency enthusiasts have increasingly focused on the potential of an upgrade proposal called SegWit2x to split bitcoin again in November, just months after its Aug. 1 split into bitcoin and bitcoin cash.
Bitcoin cash traded 15 percent lower near $603, down more than $450 from Saturday's record high of $1,091.97, according to CoinMarketCap. The bitcoin offshoot still held gains of nearly 200 percent from a low of $210 hit on the day of the split Aug. 1.
Meanwhile, investors gained more confidence in a smooth upgrade for ethereum's network, a proposal called "Metropolis" expected in the next several weeks that should improve transaction privacy and efficiency.
Other factors contributing to ethereum's gains Monday included steady demand from South Korean investors and news that London-based online trading company IG also launched support for trading ethereum on Monday.
Trade in South Korean won accounted for about 30 percent of trading in ethereum, according to CryptoCompare. Bitcoin accounted for nearly 29 percent and the U.S. dollar about 25 percent, the site showed.
Traders were also using bitcoin to buy digital currencies such as Monero, a cryptocurrency focused on making transactions confidential and untraceable.
According to CoinMarketCap, Monero surged more than 70 percent Monday to a record high of $95.08, marking gains of nearly 140 percent for the month.
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[Random Sample of Social Media Buzz (last 60 days)]
Hey Andy li thanks for the follow! Make Bitcoin work hard for you. http://ift.tt/2v5Pxec || WTI 52.26USD +0.03
Brent 58.85USD -0.17
Bitcoin $3946.00
USD/RUB 57.64
EUR/RUB 67.93
USD/UAH 26.34
EUR/UAH 31.20
RUB/UAH 0.46
UAH/RUB 2.18 || El Precio Oficial del Bitcoin en dólares, euros, pesos y 160 monedas más http://www.preciobitcoin.net/ || LIVE: Profit = $3,002.81 (76.98 %). BUY B1.49 @ $3,100.00 (#VirCurex). SELL @ $4,600.01 (#BitKonan) #bitcoin #btc - http://www.projectcoin.org || 1 KOBO = 0.00000899 BTC
= 0.0291 USD
= 10.5051 NGN
= 0.3914 ZAR
= 3.0162 KES
#Kobocoin 2017-08-06 00:00 || $3518.08 at 16:15 UTC [24h Range: $3426.92 - $3960.00 Volume: 32076 BTC] || 2017-09-01 6:00~7:00のBitcoin市場は反落だったのかな。
変化率は-0.196%
8:00までは反騰になる?
直近の市場の平均Bitcoinの価格は521113.0円
#ビットコイン
#bitcoin
#AI || One Bitcoin now worth $4340.00@bitstamp. High $4356.05. Low $4105.00. Market Cap $71.867 Billion #bitcoin || BTCが入ってないから、アゲアゲに乗っかれず・・・(/_・)ｸﾞｽﾝ
いいんです、コンセプトがアルト運用だからっっ pic.twitter.com/Z1EUUPwu6A || 僕も無事届きました
これからもよろしくお願いします
|
Trend: up || Prices: 4200.67, 4174.73, 4163.07, 4338.71, 4403.74, 4409.32, 4317.48, 4229.36, 4328.41, 4370.81
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2021-06-30]
BTC Price: 35040.84, BTC RSI: 47.37
Gold Price: 1770.80, Gold RSI: 34.19
Oil Price: 73.47, Oil RSI: 66.14
[Random Sample of News (last 60 days)]
Arrington Capital Launches $100M Algorand Ecosystem Fund: Michael Arrington’s crypto venture-capital firm, Arrington Capital Management, is launching a $100 million fund for bets on projects building on the Algorand blockchain.
Called the Arrington Algo Growth Fund (AAGF), the fund will invest in tokens and equity, Arrington, the founder of the TechCrunch blog, told CoinDesk in a telephone interview. It is Arringtonl’s second crypto-focused fund after the flagship ArringtonXRPCapital Fund, which in Marchreported$236.7 million in assets.
Arrington Capital now has over $1 billion in assets under management, according to a press release.
Related:Sustainable Supply Chain Technology Company Circulor Closes $14M Funding Round
AAGF adds to a growing list of crypto funds now pumping over $500 million into cryptographer Slivio Micali’s proof-of-stake blockchain. The fund will help pay for investments ranging from non-fungible tokens to a partnership with Miami to use Algorand in municipal projects – all in an effort to accelerate the development of Algorand’s “ecosystem.”
“Our LPs (limited partners) include several parties who align with the Algorand vision and want to support the expanding ecosystem with new offerings,” Arrington said. “We may also bring on additional investors. Additionally, I am personally investing in the fund.”
Algorand, like other protocols, is eager to gain an edge in the lucrative decentralized finance (DeFi) arms race. Its 11 million addresses pale in comparison to sector leader Ethereum’s 157 million, but the blockchain is far more nimble, both in terms of transaction processing power and speed. Even so, Algorand lacks an established DeFi ecosystem that other chains enjoy.
However, that may start to change.Yieldly– a “no-loss lottery” (akin toPoolTogether) and Algorand’s first native DeFi application – has amassed over $11 million in total value locked (TVL) following its debut on Saturday. Keli Callaghan, Algorand’s head of marketing, said the app, which launched with backing from the Algorand community fund, is already becoming a hit.
Related:Pantera, Arrington Back $5.8M Round for Unbound’s Cross-Chain DeFi Stablecoin
But the network is also courting opportunities on the more centralized side, Callaghan said. That includes projects that will allow financial institutions to use DeFi infrastructure and provide central banks with ways to transfer digital currencies.
“Our perspective is not that one is going to overtake the other, that one’s going to win or make the other irrelevant, but they sort of converge,” she said. “We see ourselves as sort of helping with this bridge” between banks, firms and DeFi.
Arrington Capital may be best known in the cryptosphere for its XRP fund, whichlaunched in late 2017also with $100 million in capital. The firm has remained true to Ripple Labs’ embattled token even as other companies in the market flee.
“We are extremely loyal to Ripple and to XRP and we believe in that ecosystem,” Arrington said, “but it’s a multichain world.”
As for how the XRP army will react: “I’m interested in the answer to that myself – we’ll see,” he said.
• Market Wrap: Bitcoin Pops to $36.8K, Other Cryptos Higher Despite Worrying China Signals
• BlockFi in Discussions to Raise ‘Several Hundred Million’ in Latest Round: Report || BlockFi to Offer Bitcoin Mining With Blockstream Partnership: Blockchain technology provider Blockstream has announced a strategic bitcoin mining partnership with crypto asset service manager BlockFi. In an announcement on May 18, the leading distributed ledger technology company stated that it is proud to welcome another major player as a bitcoin mining partner. BlockFi has deployed miners at the Blockstream mining facility in Georgia, USA, with access to over 300MW of power capacity. The company is seeking to expand its services to the mining community and to diversify revenue streams by accumulating bitcoin on its balance sheet, the announcement added. Green energy bitcoin mining BlockFi was founded in 2017 to provide a bridge between the traditional finance world and the digital asset ecosystem by offering lending and credit services to bitcoin investors. The firm manages more than $15 billion in assets and has generated hundreds of millions in interest for clients. Blockstream is striving to expand its mining operations through strategic partnerships such as this. In March the company partnered with Galaxy Digital to host its bitcoin mining operations, in addition to a partnership with Aker to pursue alternative energy mining operations. Aker is a major player in energy infrastructure based in Norway, it is dedicated to investing in projects and companies throughout the Bitcoin ecosystem. In late March, Blockstream announced its Blockstream Mining Note (BMN), a security token that expands investor exposure to Bitcoin mining and adds security and censorship resistance to the Bitcoin network. Aside from mining, Blockstream is better known for developing the Liquid side-chain settlement network and its own implementation of the Lightning network. China influence diminishing China still controls as much as 65% of the global hash power but that influence is gradually being eroded as the state continues to crack down on financial and mining operations. Mining farms in Mongolia were all ordered to close in April and the regime is taking a heavier hand against fossil fuel-based power for mining farms on the mainland. As a result, new renewable energy-powered mining farms are springing up in the United States. Texas has become the state of choice due to its low energy costs and the fact that the majority of it is renewable. || As Cryptos Crash, Twitter is Drowning in Memes: Bitcoin and several other cryptocurrencies have been on a wild ride in the past few weeks. Just earlier this week, Bitcoin dropped to $29,000 — before bouncing back —following China’s newly announced crackdown on the crypto which triggered the shuttering of several mining sites.
See:Crypto Crash: Is It Worth Investing Now or Should You Hold Off?Find:Cryptocurrency: Breaking Down the Basics
To put this in perspective, Bitcoin, which today stands at $33,000, is down almost 50% from its high of $65,000 in April.
And the crypto market cap, which today stands at $1.32 trillion, according to CoinMarketCap, fell by nearly $230 billion between June 20 and June 22, according to Cointelegraph. It has managed to regain $76 billion in value on June 23.
These wild swings have put investors on edge, and many are taking to Twitter to talk about the #cryptocrash, whether they are buying the dip, hodlers, are just simply frustrated.
Users are feeling the stress as they are “watching crypto charts live”:
Other users say the “struggle is real”:
Some, like this user, is all for Hodlers:
Others, like Clueless Holdler, are blaming the crash on China:
Then there’s Pragya Sharda, whose Twitter profile reads “I invest in crypto and when it dips, I laugh and make memes about it. That’s how it should be like, right?” who tweeted “been a month already” about the bear market:
And finally, some “veteran Hodlers,” such as The Cryptic Poet, are enjoying the ride:
See:Bitcoin Crashes Constantly, But These Investors Won’t Sell – Why ‘HODLers’ Buy the Dip and Hang On TightFind:If You Invested $1,000 in These Cryptocurrencies a Year Ago, Here’s How Much You’d Have Now
Whether you’re a crypto novice or a veteran investor, a HODLER or a panic seller, what matters when it comes to cryptos is remembering that volatility is part of the game:one Musk tweet or one China crackdown can make all the difference in a second.
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This article originally appeared onGOBankingRates.com:As Cryptos Crash, Twitter is Drowning in Memes || UPDATE 3-Bitcoin down almost 50% from year's high: (Updates prices of bitcoin, ether)
May 23 (Reuters) - Bitcoin fell 13% on Sunday after the world's biggest and best-known cryptocurrency suffered another sell-off that left it down nearly 50% from the year's high.
Bitcoin fell to $32,601 at 1800 GMT (2 p.m. ET), losing $4,899.54 from its previous close. It hit a high for the year of $64,895.22 on April 14.
Ether, the coin linked to the ethereum blockchain network, dropped 17% to $1,905 on Sunday, losing $391.31 from its previous close.
Bitcoin markets operate 24/7, setting the stage for price swings at unpredictable hours.
"Many point to bitcoin's volatility as untenable," wrote RBC Capital Markets' Amy Wu Silverman in a research note published on Saturday. "Indeed, Bitcoin makes severe and dizzying swings."
Bitcoin had been under pressure after a series of tweets last week by billionaire Tesla Chief Executive and cryptocurrency backer Elon Musk, chiefly his reversal on Tesla accepting bitcoin as payment.
In addition, on Friday China cracked down on mining and trading of the largest cryptocurrency as part of ongoing efforts to prevent speculative and financial risks.
China's Financial Stability and Development Committee, chaired by Vice Premier Liu He, singled out bitcoin as the asset it needs to regulate more.
The statement, which came days after three Chinese industry bodies tightened a ban on banks and payment companies providing crypto-related services, was a sharp escalation of the country's push to stamp out speculation and fraud in virtual currencies.
China's latest campaign against crypto came after the U.S. Treasury Department on Thursday called for new rules that would require large cryptocurrency transfers to be reported to the Internal Revenue Service, and the Federal Reserve flagged the risks cryptocurrencies posed to financial stability.
(Reporting by Maria Ponnezhath in Bengaluru; Additional reporting by Bhargav Acharya and the Global Finance & Markets Breaking News team; Editing by Lisa Shumaker and Bill Berkrot) || Top Ranked Growth Stocks to Buy for May 11th: Here are three stocks with buy ranks and strong growth characteristics for investors to consider today, May 11th: Gildan Activewear Inc. (GIL): This manufacturer and seller of various apparel products carries a Zacks Rank #1 (Strong Buy), has witnessed the Zacks Consensus Estimate for its current year earnings increasing 25.5% over the last 60 days. Gildan Activewear, Inc. Price and Consensus Gildan Activewear, Inc. Price and Consensus Gildan Activewear, Inc. price-consensus-chart | Gildan Activewear, Inc. Quote Gildan Activewear has a PEG ratio of 0.67 compared with 3.55 for the industry. The company possesses a Growth Score of B. Gildan Activewear, Inc. PEG Ratio (TTM) Gildan Activewear, Inc. PEG Ratio (TTM) Gildan Activewear, Inc. peg-ratio-ttm | Gildan Activewear, Inc. Quote Columbia Sportswear Company (COLM): This company that designs, sources, markets, and distributes outdoor, active, and everyday lifestyle apparel, footwear, accessories, and equipment carries a Zacks Rank #1, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 6.5% over the last 60 days. Columbia Sportswear Company Price and Consensus Columbia Sportswear Company Price and Consensus Columbia Sportswear Company price-consensus-chart | Columbia Sportswear Company Quote Columbia Sportswear has a PEG ratio of 0.78, compared with 3.55 for the industry. The company possesses a Growth Score of A. Columbia Sportswear Company PEG Ratio (TTM) Columbia Sportswear Company PEG Ratio (TTM) Columbia Sportswear Company peg-ratio-ttm | Columbia Sportswear Company Quote Herc Holdings Inc. (HRI): This equipment rental supplier carries a Zacks Rank #1, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 38.6% over the last 60 days. Herc Holdings Inc. Price and Consensus Herc Holdings Inc. Price and Consensus Herc Holdings Inc. price-consensus-chart | Herc Holdings Inc. Quote Herc Holdings has a PEG ratio of 0.45, compared with 1.86 for the industry. The company possesses a Growth Score of B. Herc Holdings Inc. PEG Ratio (TTM) Herc Holdings Inc. PEG Ratio (TTM) Herc Holdings Inc. peg-ratio-ttm | Herc Holdings Inc. Quote See the full list of top ranked stocks here. Learn more about the Growth score and how it is calculated here. 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 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 Herc Holdings Inc. (HRI) : Free Stock Analysis Report Gildan Activewear, Inc. (GIL) : Free Stock Analysis Report Columbia Sportswear Company (COLM) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Ron Paul: Let Bitcoin Compete With the Dollar: Former United States Congressman and Presidential Candidate Ron Paul says that bitcoin (BTC) ought to be allowed to compete with the dollar. Ahead of attending a bitcoin conference later this week, Ron Paul made an appearance on Kitco News discussing his views about the cryptocurrency. Although more knowledgeable about precious metals, he highlighted several parallels between physical and digital gold. Ultimately, he believes cryptocurrencies ought to be able to compete with the U.S. dollar as a widely-accepted currency. Legal tender laws First, Paul mentioned a piece of legislation introduced in the U.S. Congress that would enable auditing of the Federal Reserve. He then emphasized another piece of legislation that would “get rid of legal tender laws.” It is these laws that give the Federal Reserve the exclusive domain to issue legal tender. Paul feels people should be able to use whatever currency they think has value, saying his goal is to “help legalize the competition.” However, he then stressed that the Federal Reserve would be unlikely to relinquish its monopoly on issuing currency. He noted that “governments over the centuries have been notoriously very eager to have control of the money.” Bitcoin as a currency Another suggestion Paul made apart from removing the dollar’s exclusivity as legal tender was elevating gold and bitcoin . He said that currently if you buy then sell gold or bitcoin, you are taxed on the profit. This doesn’t happen in the case of the dollar, he pointed out. “If you bought a dollar a year ago, and it went down 10%, you can’t take a loss because your dollar lost value,” he said. While acknowledging that, with foreign exchange, other currencies can compete with the dollar, this is not the case domestically. Paul then referred to an anecdote during one of his Presidential campaigns. Supporters of his designed a coin they called the “Ron Paul Dollar.” Paul claims they subsequently got in trouble for having used the term “dollar,” because “that was encroaching on the monopoly control of money.” Story continues Outlawing gold Towards the end of the interview, Paul made light of his experience with gold, comparing a feasible situation that could happen with bitcoin. He recalled the U.S. President Roosevelt, in an effort to boost the value of the dollar during the Great Depression, had made it all but infeasible to buy gold. Paul implied that this could potentially happen with bitcoin as well, if the Federal Reserve felt their monopoly was threatened. Billionaire Ray Dalio had made a similar implication earlier, saying, “Bitcoin’s greatest risk is its success.” || Riot Blockchain vs. Silvergate Capital: Which Cryptocurrency Stock Is a Better Buy?: In one expects Bitcoin prices to rise going forward, it makes sense to look at Riot Blockchain (RIOT) and Silvergate Capital (SI). Both stocks are trading at a premium but have the potential to continue gaining in price if the crypto market momentum proves to be sustainable. Let’s discuss. The cryptocurrency space has been on fire over the last 14 months. The price of Bitcoin has surged more than 1000% since March 2020, hitting a record high of more than $63,000 last month. This performance has brought Bitcoin and other crypto-based companies, such as Riot Blockchain ( RIOT ) and Silvergate Capital ( SI ), back into focus with investors. While Riot Blockchain is a Bitcoin mining company, Silvergate Capital operates as a bank holding company. So, let’s see which of the two companies is a better buy today? Riot Blockchain stock is tied to the price of Bitcoin In the first quarter, Riot Blockchain mined 491 Bitcoins, representing a 75% increase in Bitcoin production year over year. This is an important statistic to consider because Bitcoin mining in 2021 was twice as difficult. The Bitcoin network conducts a halving event every few years, and this last took place in May 2020. Here, the reward for mining a single Bitcoin is cut in half. S0, in the last year, Bitcoin miners have received just 6.25 tokens for every block they mine. Companies including Riot Blockchain also have to increase computing power constantly in order to keep pace with these halving events. The computing power is mined via a hash rate, and Riot Blockchain ended 2019 with a hash rate of 100 peta-hashes per second or PH/s. It increased its hashrate to 1,600 PH/s at the end of April and to 7,700 PH/s by the end of 2022. The amount mining companies are paid depends on the hash rate they provide to the blockchain network. So, it is clear why investors are excited about Riot’s increase in computing power; it should result in higher payouts going forward. However, not every analyst is bullish about Bitcoin. According to Citron Research, Riot Blockchain stock is worth $2,meaning it is trading at a huge premium at its current price of $33.8. The market cap of Riot Blockchain stands at $2.83 billion, which means its trading at an 11x forward price to sales multiple. However, investors should also consider that the company is forecast to increase its 2021 sales to $205 million, up from $12 million in 2020. The price of Riot Blockchain stock is directly related to the price of Bitcoin, which makes investing in this crypto-mining company a high-risk bet. Story continues The bull case for Silvergate capital A California-based bank valued at a market cap of $2.32 billion, Silvergate Capital aims to drive revenue generation by focusing on the cryptocurrency segment. Silvergate provides banking services to retail and institutional customers who want to invest or trade in Bitcoin and its peers. The company created the SEN, or Silvergate Exchange Network, where crypto traders that buy or sell currencies on exchange platforms, such as Coinbase, open an account with Silvergate. Basically, Silvergate has partnered with multiple cryptocurrency exchanges and holds the funds in a trading account. Furthermore, Silvergate does not pay customers interest on these deposits, which will benefit the company even more when interest rates rise. The SEN business vertical has experienced handsome growth. During Silvergate’s Q1 earnings call, CEO Alan Lane said, “In the first quarter, activity on the SEN continued to grow at a record pace with nearly 167,000 transactions and more than $166 billion in SEN volumes, up 84% on a sequential basis." Its average deposits from digital currency customers in Q1 rose to $6.4 billion from just $3.8 billion in Q4 of 2020. Analysts tracking the stock, expect Silvergate to increase its sales by 68% year over year to $153.7 million in 2021 and by 40% to $215 million in 2022. Further, earnings are forecast to rise by 82% in 2021 and by 40% in 2022. It indicates that Silvergate stock is trading at a forward price to sales multiple of 15x and a price to earnings multiple of 38x. The bottom-line We can see that both Riot Blockchain and Silvergate Capital are enticing bets especially if you expect Bitcoin prices to soar over the long term. However, in case the crypto markets crash, the downside for Silvergate investors will be limited compared to Riot Blockchain. Silvergate also enjoys consistent profits and ended Q1 with a bottom-line margin of 33% and with $4 billion in cash. In a nutshell, Silvergate is fundamentally strong and seems a better bet for long-term investors. NASDAQ shares were trading at $421.85 per share on Monday morning, down $0.27 (-0.06%). Year-to-date, NASDAQ has gained 13.20%, versus a % rise in the benchmark S&P 500 index during the same period. About the Author: Aditya Raghunath Aditya Raghunath is a financial journalist who writes about business, public equities, and personal finance. His work has been published on several digital platforms in the U.S. and Canada, including The Motley Fool, Finscreener, and Market Realist. More... The post Riot Blockchain vs. Silvergate Capital: Which Cryptocurrency Stock Is a Better Buy? appeared first on StockNews.com || Crypto Embracing Stock Market’s Lessons on Technological Inclusion: The financial services industry has long been a proponent of technology use. However, when it came to retail offerings, the best technology was often kept in the hands of institutional users. Eventually, slowly but surely, the internet changed everything.
From traders' method of accessing the markets to the speed of execution and charting, the late 90's and early 2000's were years of dramatic changes in stock market participation. First, inclusivity improved by an order of magnitude, leading to a dramatic rise in the number of day traders lured in by discount brokerage rates and greater accessibility.
While the playing field was still tilted in favor of financial services giants and large funds that invested heavily to maintain a technological edge, the gap gradually closed as these technologies filtered down to the retail level. Moreover, the technology itself helped improve market conditions and the accessibility of value-added services alike.
Paul Barroso, the Co-founder & CEO of Atani, remarked, “There are a lot of instances in which trading, portfolio management, technical analysis or tax reporting technology that was once limited to institutions is being filtered down to retail clients. For example, take high-frequency trading technologies (HFT), that have now gone mainstream and are leveraged for arbitrage trading. That has a net positive impact on the markets, as it increases liquidity and reduces spreads and slippage.”
Stock traders can now build their own algorithms with no coding knowledge, employ advanced technical analysis tools directly on charts, and filter and sort through trading opportunities based on pre-defined criteria. Moreover, they have access to multiple trading venues. The point is, although technology in its earlier years was the big differentiator, it has since been transformed into the great equalizer, gradually improving inclusivity while helping level a very lopsided playing field.
Money management tools are a prescient example of this progress. The rollout of services like copy-trading and robo-advisory has brought asset management and portfolio management to the public instead of solely serving the needs of high net worth individuals. Even research has been fundamentally democratized by technology. For instance, Reddit has brought us the world’s largest decentralized hedge fund and an abundance of research and analysis that was once relegated to the institutional investment domain alone.
Cryptocurrency As The Great Trading Equalizer
In many ways, cryptocurrency builds on this technological progress. At its core, the goal of the earliest cryptocurrencies was greater financial inclusivity, whether by banking the unbanked or by reducing the presence of gatekeepers that translated to higher transaction costs. (SeeBitcoin Stock Comparisonon TipRanks)
Sure, cryptocurrency trading, in particular, has a long way to go, but even now, it is progressing at a much faster pace than stock market trading. The strongest example of this point is the abundance of decentralized exchanges (DEXs) and automated-market-maker (AMM) platforms driving the DeFi revolution.
For traders, the opportunity to access a purely decentralized trading environment has numerous advantages. Besides for the fee component, the tools available have never been more sophisticated. Moreover, yield farming, staking, and lending in these decentralized environments provide more democratized opportunities for ordinary investors than at any time in history.
Even centralized crypto platforms are highly performant, and regularly expand their use of technology. Traders can now view the order book for depth, akin to the Nasdaq Level II service available to institutions and stock trading professionals for years. In addition to charting, many platforms feature embedded news options, helping more participants gain a fundamental look at the market in real-time.
Furthermore, institutional innovation is a key driver of a strong retail user experience in cryptocurrencies. Tomer Niv, the Director of Global Crypto Solutions at eToro, echoes this point, “Institutional trading technology can be divided into custody infrastructure, smart execution engines and supporting data analytics. I can say that recent improvements in all of those three categories have a direct contribution to the quality of the services that end-clients receive from retail investment platforms.”
Niv adds, “Experiences at the institutional level have positively influenced storage solutions for cryptoassets for all users, including retail...Smart execution engines provide better liquidity and access to the entire crypto market which translates to better spreads on retail platforms, and supporting data analytics enable the retail platforms to implement machine learning algorithms to optimize costs and eventually also reduce prices for the retail clients.”
Beyond these technological advances, users can implement automated strategies via API connections with their favorite exchanges. The exchanges themselves are breaking down barriers and reducing friction in their own right, even so far as automating KYC and AML practices that are still sometimes handled offline by stock market brokers.
With the rise of blockchain prediction markets alongside the accelerated use of machine learning and artificial intelligence, the industry is always exploring new and unique ways of delivering added value for crypto traders.
Although technology can be viewed as a driver of inequality, technology has proven to be the greatest equalizer in generations when it comes to trading. By largely eschewing the two-tiered structure that dominated the stock market for years, cryptocurrency is a potent force for democratization in a way that outpaces innovation in more established markets.
With a bright future ahead and development talent eager to carve out a place in this new trading paradigm, the technology revolution that started in stock trading is merely entering a new phase that will genuinely create more equal opportunities for all stakeholders and participants.
Disclosure: Reuben Jackson held no position in any of the companies mentioned in this article at the time of publication.
Disclaimer: The information contained herein is for informational purposes only. Nothing in this article should be taken as a solicitation to purchase or sell securities. || Crypto Industry Has Paid $2.5 Billion in Fines Since Bitcoin Inception: Regulators in the United States have imposed fines of $2.5 billion on the cryptocurrency industry since Bitcoin’s founding.
The Securities and Exchange Commission (SEC) is responsible for issuing a majority of these fines according toanalysisfrom Elliptic. Their penalties amounted to $1.69 billion. The Commodity Futures Trading Commission (CTFC) came in second with fines amounting to $624 million. Most companies incurred these penalties by offering unregistered securities or defrauding investors.
The majority of the penalties were paid last year, when TelegramsettledSEC charges for violating federal securities laws. As part of the settlement, Telegram agreed to return more than $1.2 billion to investors. They also paid an additional $18.5 million civil penalty. Ultimately, Telegram neither admitted to nor denied any wrongdoing.
While the CFTC has emerged as a major force imposing fines as well, local regulators are also flexing. For instance, earlier this year Tether (USDT) and crypto exchange Bitfinex reached a settlement with the New York State Attorney General. The agreement required Tether and Bitfinex to cease trading activity with New Yorkers, and pay $18.5 million in penalties.
Co-founder of Elliptic Tom Robinson notes that these fines are playing a role in helping to shape crypto regulation. He highlights the use of existing laws to limit and penalize illicit use of crypto assets, which can set precedents. “These penalties have not slowed down the crypto industry – in fact, they have helped it to grow,” Robinson said. “They provide comfort to consumers, and regulatory clarity to businesses.”
Meanwhile, Robinson expects regulators to target overseas exchanges. For instance, the Internal Revenue Service and the Department of Justice recently issuedprobesinvestigating Binance. The world’s largest cryptocurrency exchange has also come into thecrosshairsof European regulators for its stock tokens.
Robinson also emphasized how ransomware attacks are also honing regulators’ capacities to investigate exchanges. As ransoms paid out to cybercriminals are often cashed out at these exchanges, they leave an immutable digital paper trail. For example, $2.3 million was recentlyrecoveredfrom the Colonial Pipeline ransomware attack. || Asia Broadband Pursues AABBG Token Business Development in Central America As El Salvador Adopts Bitcoin As National Currency: LAS VEGAS, June 15, 2021 (GLOBE NEWSWIRE) -- via InvestorWire --Asia Broadband Inc. (OTC: AABB)(“AABB” or the “Company”) is pleased to announce that the Company is proceeding with plans to establish a presence in Central America and build a demand for the AABBG token in El Salvador. AABB will be targeting major Salvadoran retailers to engage in acceptance and processing agreements for customer purchases with AABBG.
The business development program is designed to afford substantial commission and discount incentives for retailers and customers to fulfill transactions with AABBG and facilitate circulation expansion. The creation of a Spanish version of the AABB Wallet and upcoming exchange is planned with the AABBG developer and will be initiated as soon as possible. Also, AABB expects to open a satellite office in El Salvador in the near future to serve as the Company’s Central and South American hub for AABBG business development and marketing.
El Salvador’s recent adoption of and movement toward Bitcoin as the country’s legal tender has created a cryptocurrency-focused economy and a tremendous growth opportunity for AABBG and the AABB Wallet. With a Salvadoran population of more than 6 million, approximately 70% are without bank accounts or credit cards but do have the cell phones and internet access required for digital wallet use. Additionally, there are more than 2 million Salvadorans living in the US that send approximately $5 billion USD annually to El Salvador—a figure amounting to more than 20% of the country’s GDP. These USD remittances are time consuming to send and receive and can cost up to 50% in total fees and services charges. Alternatively, the easy access, inexpensive and quick transfers of cryptocurrency through digital wallets will offer significant cost and time savings to the transacting parties and potentially provide hundreds of millions of dollars in economic benefits to El Salvador.
https://www.etftrends.com/2021/06/el-salvador-just-adopted-bitcoin-as-legal-tender-heres-why-other-countries-may-follow-suit/
About Asia Broadband
Asia Broadband Inc. (OTC: AABB) is a resource company focused on the production, supply and sale of precious and base metals, primarily to Asian markets. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate its innovative distribution process from the production and supply of precious and base metals in Mexico to client sales networks in Asia. This vertical integration approach to sales transactions is the unique strength of AABB that differentiates the Company and creates distinctive value for shareholders. The Company has recently released its freshly minted mine-to-token gold-backed cryptocurrency AABB Gold token (AABBG) and strives to become a worldwide standard of exchange that is secured and trusted with gold backing, an outstanding quality relative to other cryptocurrencies.
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Forward-Looking Statements are contained in this press release within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Asia Broadband Inc.’s (the “Company”) expected current beliefs about the Company’s business, which are subject to uncertainty and change. The operations and results of the Company could materially differ from what is expressed or implied by the statements made above when industry, regulatory, market and competitive circumstances change. Further information about these risks can be found in the annual and quarterly disclosures the Company has published on the OTC Markets website. The Company is under no obligation to update or alter its forward-looking statements as future circumstances, events and information may change.
Corporate Communications:InvestorBrandNetwork (IBN)Los Angeles, Californiawww.InvestorBrandNetwork.com310.299.1717 [email protected]
[Random Sample of Social Media Buzz (last 60 days)]
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Trend: no change || Prices: 33572.12, 33897.05, 34668.55, 35287.78, 33746.00, 34235.20, 33855.33, 32877.37, 33798.01, 33520.52
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Funko will combine its collectible figures with NFTs: Non-fungible tokens are all about taking collectibles to the digital realm, and Funko is eager to seize on that while it can. The company has bought control of the NFT startup TokenWave with an aim to combine Funko Pop vinyl figures with digital tokens using the Wax platform. Funko plans to offer an NFT each week starting at $10, and will mate the "rarest" tokens with exclusive Funko Pop figures. We wouldn't expect prices to climb to the absurd levels of the first tweet or Nyan Cat , but Funko is clearly counting on a degree of hype. The first wave of NFTs should arrive in June. Funko's choice of platforms might not thrill some. Wax (also used by Topps) is using a delegated-proof-of-stake blockchain system that's quicker and more energy-efficient than the proof-of-work approach used with Bitcoin, and more democratic than regular proof-of-stake. However, it's not as decentralized as proof-of-work and isn't necessarily as secure. Whatever you think of the choice of technology, this could be an important move that takes NFTs closer to the mainstream. Many people might be new to NFTs, but a link to Funko Pop figures could both make the tokens desirable and help illustrate their potential value (or lack of it, depending on your perspective) to a wider audience. Don't be surprised if other collectible giants follow suit. || DMG Blockchain Solutions and Argo Blockchain to Launch the First Clean Energy Bitcoin Mining Pool: VANCOUVER, British Columbia, March 26, 2021 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) (FRANKFURT: 6AX) (“DMG”), a vertically integrated blockchain and cryptocurrency technology company, and Argo Blockchain Plc (LSE: ARB) (“Argo”), a UK-based global cryptocurrency mining company, are pleased to announce Terra Pool (the “Pool”), the world’s first Bitcoin mining pool powered by clean energy. Aligning with the latest climate science, Terra Pool will work to better manage the impact of Bitcoin mining on the climate.
As founding shareholders and partners, DMG and Argo have entered into a Memorandum of Understanding to establish Terra Pool, a cooperative effort to launch a Bitcoin mining pool exclusively powered by clean energy. Initially, the Pool will consist of both DMG’s and Argo’s hashrate, which currently uses energy generated by hydroelectric resources.
Terra Pool will provide both a strong incentive and accessible platform for cryptocurrency miners to produce Bitcoin in a sustainable and climate-conscious way with the goal of significantly reducing greenhouse gas emissions over the next decade. In the near-term, Terra Pool will work with like-minded Bitcoin miners to expedite the shift from conventional power to clean energy.
About Argo Blockchain Plc
Argo Blockchain plc is a global leader in cryptocurrency mining with one of the largest and most efficient operations powered by clean energy. The Company is headquartered in London, UK and its shares are listed on the Main Market of the London Stock Exchange under the ticker: ARB and on the OTCQX Best Market in the United States under the ticker: ARBKF.
For more information on Argo Blockchain visit:www.argoblockchain.com
Contacts:
North AmericaWachsman:[email protected]: +1-212-835-2511
EuropeSalamander [email protected]: +44 7957 549 906
Emma [email protected]: +44 7727 180 873
About DMG Blockchain Solutions Inc.DMG is an environmentally friendly vertically integrated blockchain and cryptocurrency company that manages, operates, and develops end-to-end digital solutions to monetize the blockchain ecosystem. DMG’s sustainable businesses are segmented into three main divisions: data centre operations, data analytics and forensics and developing enterprise blockchains. DMG’s non-polluting data centre operations focus on earning eco-friendly revenues from block rewards and transaction fees by mining primarily bitcoin as well as providing hosting services for industrial mining clients entirely powered by renewable energy. DMG’s data analytics and forensic services provide technical expertise software products such as Blockseer Pool, Mine Manager and Walletscore, as well as working with auditors, law firms, and law enforcement organizations. DMG’s permissioned blockchain technology is focused on developing enterprise software for the supply chain management of controlled products. DMG’s strategy is to become the domain experts across the business verticals it focuses on. DMG’s environmentally committed management team includes seasoned crypto experts, forensic & financial professionals and blockchain developers with deep relationships throughout the industry and a strong ecological consciousness.
Future changes in the Bitcoin network-wide mining difficulty rate or Bitcoin hashrate may materially affect the future performance of DMG’s production of Bitcoin, and future operational results could also be materially affected by the price of Bitcoin and an increase in hashrate mining difficulty.
For more information on DMG Blockchain Solutions visit:www.dmgblockchain.com
On behalf of the Board of Directors,Daniel Reitzik, CEO & Director
For further information, please contact:
DMG Blockchain Solutions Inc.Email:[email protected]:www.dmgblockchain.com
For Media Inquiries:Jules Abraham, Head of Public RelationsCORE [email protected]
Investor Relations Contact:CORE IR 516-222-2560
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information based on current expectations. Statements about the Company’s plans for the establishment of this new Pool and related definitive agreements, expectations, benefits and outcomes of this new Pool, the planned DCMNA, plans and goals to increase petahash (PH) by self-mining in 2021 and beyond, price of bitcoin, plans and intentions, other potential transactions, acquisition of customers, product development, events, courses of action, and the potential of the Company’s technology and operations, among others, are all forward-looking information. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company’s financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products; the demand and pricing of bitcoins; security threats, including a loss/theft of DMG’s bitcoins; DMG’s relationships with its customers, distributors and business partners; the inability to add more power to DMG’s facilities; DMG’s ability to successfully define, design and release new products in a timely manner that meet customers’ needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. DMG may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements.
The securities of DMG are considered highly speculative due to the nature of DMG’s business.
Factors that could cause actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, lack of supply of equipment, power and infrastructure, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, secure equipment, and hire personnel, competition, security threats including stolen bitcoins from DMG or its customers or from this new Pool, consumer sentiment towards DMG’s products, services and blockchain technology generally, decrease in the price of Bitcoin and other cryptocurrencies, failure to develop new and innovative products, litigation, increase in operating costs, increase in equipment and labor costs, failure of other Bitcoin mining companies to join this new Pool, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by third parties in respect of the matters discussed above. || What Changed in Crypto Markets While You Were Sleeping May 5: BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep. Bitcoin update Bitcoin decreased considerably yesterday, creating a bearish engulfing candlestick. It fell from a high of $57,200 to a low of $53,046, amounting to a total decrease of 7%. Its possible that the drop occurred in order to validate the descending resistance line from which BTC broke out prior. Despite the decrease, technical indicators are still bullish. The MACD is increasing and the Stochastic oscillator is still on track to make a bullish cross. BTC Chart By TradingView Altcoin movers The total crypto market cap ballooned to an all-time high of over $2.3 trillion on May 4 but has pulled back slightly to $2.28 trillion this morning. The majority of altcoins on the market are seeing green today, but theres been a few notable developments that stand out above the rest. Dogecoin (DOGE) has claimed the #4 position away from XRP in a 40% spike to a new all-time high just short of $0.70. However, in the past 24 hours, its been Ethereum Classic (ETC) thats stolen the show. ETC is currently trading for $76.04, but it did manage to briefly clock a new all-time high price of $81.70. ETC is up 45% in the past 24 hours alone and has grown 126% in the past week. Celsius (CEL) is the days biggest loser thus far. CEL has dropped by nearly 7.5% on the day. CEL appears to be having a tough time finding support since rapidly falling from its April 9 all-time high of $7.97. Its back to trading at $5.80 today. In other crypto news Coinbase has added the largest stablecoin by market cap, Tether (USDT), to its platform, and trading functionalities are already available. A new report on the crypto mining industry indicates that the market could grow by $2.8 billion between now and 2024. Crypto venture firm Multicoin Capital has unveiled the details of a new $100 million fund to invest in decentralized finance ( DeFi ) and non-fungible token (NFT) projects. || NVIDIA Corporation's (NVDA) Shares March Higher, Can It Continue?: As of late, it has definitely been a great time to be an investor inNVIDIA CorporationNVDA. The stock has moved higher by 17.5% in the past month, while it is also above its 20-day SMA too. This combination of strong price performance and favorable technical could suggest that the stock may be on the right path.
We certainly think that this might be the case, particularly if you consider NVDA’s recent earnings estimate revision activity. From this look, the company’s future is quite favorable; as NVDA has earned itself a Zacks Rank #1 (Strong Buy), meaning that its recent run may continue for a bit longer, and that this isn’t the top for the in-focus company. You can seethe complete list of today’s Zacks #1 Rank stocks here.
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 reportNVIDIA Corporation (NVDA) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || The market for Pokemon cards is exploding. Some now sell for over $300,000: Bitcoin? That’s so last month. NFTs? Old and busted. Pokemon cards are the new hotness. One collector recently paid $311,800 for a Charizard trading card from the popular series. Others are up for sale on [hotlink]eBay[/hotlink] with prices currently ranging from $11,000 to $270,000. The recent sale was for a rare version of the card, which was certified in perfect condition by an independent rating service. All totaled the card received 124 bids. The $300,000-plus sale actually isn’t the highest price ever paid for a Pokemon card. Earlier this year, a collector paid $360,000 for a rare Blastoise card. A sealed box of first edition cards sold for $408,000 around the same time. Pokemon is celebrating its 25th anniversary this year and interest in the series is stronger than ever, fueled in part by nostalgia and in part by the Pokemon Co.’s wide footprint of products, which range from the card game to a successful partnership with [hotlink]Nintendo[/hotlink] to a popular mobile game to film and TV series. Interest in collectable cards in general has been spiking lately. Sports trading cards have seen some very high profile sales , including $4.6 million for an autographed rookie card of Dallas Mavericks star Luka Doncic and $5.2 million for a 1952 Micky Mantle card. The overall market for sports cards is now estimated to be roughly $5 billion. Both sports and collectible cards could also profit from the recent interest in NFTs as both already have digital trading card options – so adding the ability to track ownership of particular assets could make them even more valuable to collectors. YouTube star Logan Paul racked up sales of over $500,000 earlier this month on digital Pokemon cards that included his own image. This story was originally featured on Fortune.com View comments || On Coinbase’s First Earnings Call, Here’s What Analysts Are Listening For: Coinbase is getting ready for the spotlight.
The cryptocurrency exchange based in San Francisco (but not) is voluntarily reporting its first-quarter earnings Tuesday at 4:30 p.m. ET ahead of a much-anticipated public listing on Nasdaq slated forApril 14.
In advance of the COIN ticker going live, analysts are eager to discover Coinbase’s user growth numbers over the past quarter.
Related:Tendermint Acquisition Takes Aim at New Interoperable DEX for Cosmos
“We need to know what [its] assumption is about monthly active users and revenue per user,” James Friedman, senior fintech research analyst at Susquehanna International Group, told CoinDesk. “The bears will argue that this is a trading company … there are only 80 million stock brokerage accounts in the U.S. and 20% of those people trade less than once a year.”
The fourth quarter of 2020 was the first time Coinbase had as many active monthly users (2.8 million) as it did in the first quarter of 2018 (2.7 million), said Friedman. As of the close of 2020, the exchange touted43 million registered users.
Because the bulk of the company’s transactional revenue comes from retail users, the most relevant financial metric to look out for will be how many verified users have made the jump to being monthly transacting users – users who have an account versus those that are trading regularly.
Coinbase noted several times in its prospectus thatthe company’s growth correlatedwith the price ofbitcoin. According toCoinDesk Research, bitcoin had a 100% return in Q1 2020 and a market capitalization that surpassed $1 trillion for the first time in its history.
Related:South African Cryptocurrency Exchange iCE3 Goes Into Liquidation
“We’re hoping to get a better picture of how bitcoin’s price is correlated to user growth,” Arca research analyst Alex Woodard said.
With only 1,100 staffers at Coinbase, the firm’s margins are wide, even with Arca modeling a 50% increase in general administration/customer service costs in the first quarter.
“We’re [still] seeing an operating margin of 75%,” said Arca COO Michael Dershewitz.
One issue where the exchange has been tight-lipped is on future projections for the spread between institutional trading versus retail trading, Arca’s Woodard added.
Coinbase will likely address its growth in prime brokerage and other subscription services that can serve the exchange in a bear market and how it plans to grow its international customer base, which is small compared to its U.S. user count.
On the institutional side, Coinbase has confirmed that it servesMicroStrategyandOne River– with others clients such asTeslaand hedge fund giantPaul Tudor Jonesdribbling out in press reports.
Beyond Coinbase’s first-quarter earnings call, analysts will also struggle to determine what will drive the price of the Coinbase stock when it does list, Friedman said.
If a bitcoin exchange-traded fund is not approved by the time it lists, Coinbase’s stock could be seen as a proxy bitcoin ETF – similar to MicroStrategy’s stock. Therefore, the price of COIN stock could be decoupled from the business’ fundamentals.
“If looking for synthetic exposure to bitcoin, it will probably be the purest play to do it outside of [Grayscale Bitcoin Trust],” Woodward said. “This is a much purer bet on crypto than a MicroStrategy.”
• On Coinbase’s First Earnings Call, Here’s What Analysts Are Listening For
• On Coinbase’s First Earnings Call, Here’s What Analysts Are Listening For || Ampleforth Launches New FORTH Token With Instant Listing on Coinbase: Smart commodity money protocol, Ampleforth, has joined its DeFi brethren with a new governance token announcement.
Ampleforth detailed the launch of its new governance token, FORTH. It will distribute to users of the protocol through a points system for those that have made on-chain transactions with its AMPL cryptocurrency.
Theblog postexplains that the new token will provide the mechanism by which the community will vote on parameter changes to the core AMPL protocol and further decentralize it.
“Where AMPL represents an independent currency that functions as a unit of account, FORTH is the governing mechanism that oversees its evolution.”
FORTH tokens are now live. The community can claim them until April 16, 2022. Any FORTH tokens remaining undistributed one year from the launch date will be reclaimed to a community-governed DAO.
The deflationary token is modeled on theCompound finance systemto offer incentives for all network participants. There are 15 million FORTH minted at the genesis event. The initial supply will be available immediately, with future inflation set at 2% per year.
The distribution breakdown is pretty simple. 67% will go to the community, while the remaining 33% goes to early backers, the core development team, advisors, supporters, and the Ampleforth Foundation. Community allocation will be governed by a points system, scored by on-chain activity.
“This will cause those who supported the network long-term and through all market conditions to accrue the most points, and thus FORTH tokens.”
The announcement stated that more than 75,000 users would be eligible to receive the new tokens. They will also become founding members of Ampleforth’s governing body.
Ampleforth launched in 2018 to provide an elastic supply stablecoin that aims to be loosely pegged to the USD. In December 2020, the protocol branched off from Ethereum to offer multi-chain compatibility withintegration into Polkadot, Tron, and NEAR.
On April 22,Coinbase Pro announcedthat it would be listing the new FORTH tokens. Coinbase does not list the protocol’s native token, AMPL. This is possibly due to conflicts of interest with its own stablecoin, USDC.
“Please note that FORTH is a separate token from AMPL, which is not being offered for trading.”
It added that once a sufficient supply of FORTH is established on the platform, trading on FORTH/USD, FORTH/BTC, FORTH/EUR, and FORTH/GBP pairs will be enabled.
At the time of writing, AMPL was trading above its soft peg at $1.32 following a rebase. Meanwhile FORTH was hovering around $54. || Ether Hits All-Time Highs, But Kevin O’Leary Says It Will Always Be “Number 2” to Bitcoin: Meduza, one of Russia’s leading independent news organizations, called for donations in fiat,bitcoin,etherand BNB after Russian authorities labeled it a “foreign agent” last week.
The label, basically marking Meduza as an “enemy of the state,” can hurt its ability to contact sources and report news, the team said in astatement.
“They are trying to kill Meduza,” the team said in anothereditorial statement. “The Ministry of Justice deemed us a ‘foreign agent.’ As a result, we lost our advertisers. It means that our funds are running out. Right now.”
Related:Ether Hits All-Time Highs, But Kevin O’Leary Says It Will Always Be “Number 2” to Bitcoin
On April 23, the Russian Justice MinistrydesignatedMeduza as a foreign agent, which means the journalists will have to mark every article they write as published by a foreign agent. They will also have to submit detailed financial reports every quarter.
According to the editor-in-chief, Ivan Kolpakov, on Monday many advertisers pulled out. Because of the financial urgency, Meduza launched afundraiseron Thursday, asking donors to send money via a bank card payment, PayPal or crypto transfers in bitcoin, ether and BNB.
Meduza joins a small number of Russian organizations that accept donations in crypto, including one led by prominent politician Alexey Navalny as well as several human rights-related groups.
Read more:Russian Activists Use Bitcoin, and the Kremlin Doesn’t Like It
Related:Why Mastercard Is Getting Into the CBDC Space
“If people are afraid to send us money from their bank accounts, and they might well be, they can send us crypto,” Kolpakov said, adding:
“The scale of political repression in Russia [is] so large these days that people might be worried about their personal data. People who went to political rallies are gettingdeanonymizedby facial recognition systems and harassed by the police.”
Read also:Facial Recognition Tech May Be Being Used Against Russian Protestors
Kolpakov added that the list of cryptocurrencies will be expanded. For now, they chose bitcoin and ether because they are the most popular, and BNB because it has the cheapest transaction fees. The team is also thinking of issuing and selling non-fungible tokens (NFT) to raise funds, Kolpakov said.
“If it was up to me, I would take all the donations in crypto,” Kolpakov said. “We believe in crypto and blockchain, we believe it’s the future of global finance. Plus, for many years, our readers have been asking for an option to donate crypto.”
The donations have been flowing in. In the initial hours following the announcement of the fundraiser, Meduza received dozens of small donations, over0.29 BTCand3 ETHin total (or more than $23,800).
Meduza will contest the “foreign agent” status in court but the chances of winning are slim, Kolpakov said. So for now, the team is trying to buy some time and decide what to do next.
“Among other things, we’re going to see if we can live off donations,” he added.
Meduza’s troubles are part of a larger trend of recent police actions against journalists in Russia. On April 9, the policeraidedthe apartment of a prominent investigative journalist Roman Anin. On April 17, Anin’s colleague, Ekaterina Arenina, wasdetainedafter interviewing people for her story about torture in Russian prisons.
Over the past weekend, police alsodetainedseveral journalists who reported on protest rallies against the imprisonment of the politicianAlexey Navalny, who was demanding medical help while in prison. Student magazine editors were placed under house arrest last year.
In December, several individual journalists werebranded as foreign agentsby the state. Last July, former prominent defense reporter Ivan Safronov went to jail on treason charges.
Meduzais an online news outlet that provides news in Russian and English. It was founded by the core team of another Russian media outlet, Lenta.ru, in 2014, after editor-in-chief Galina Timchenko wasfiredby the owner for Lenta’s coverage of Ukraine’s 2014 revolution.
Many journalists left the publication in protest. When Timchenko and two other editors founded Meduza, some of those journalists joined the startup. The team has been operating from an office in Riga, Latvia, which is a short flight from Moscow. Core reporters are still based in Russia.
Meduza has joinedthe listof designated foreign media agents that includes Voice of America and Radio Free Europe/Radio Liberty as well as several journalists.
Meduza must now publish a notice of foreign agent status in a larger font than the main text of its articles. This week, Meduza started adding such notices at the top of every article and tweet, typing it in all capital letters on Twitter.
The law on foreign agents was passed in 2012, defining a foreign agent as an organization that is involved in political activities and receiving funding from abroad. However, there was no precise definition of political activity. Currently,75 nonprofitsin Russia, including human rights, election monitoring and educational groups, have this status.
Read more:Bitcoin Dissidents: Those Who Need It Most
In December, the law wasamendedso that individuals can also be designated foreign agents. Immediately after that, five journalists and civil rights activists weredeemed foreign agents.
“For years, Russian authorities have used the ‘foreign agents’ law to suppress independent groups,” Human Right Watchwrotein 2020.
• Bitcoin Declines, on Track for Worst Month Since January
• What an Increasingly Booming Economy Means for Bitcoin || Bitcoin and taxes: EY cryptocurrency expert details what to know: If you simply bought crypto in 2020, you probably don't owe money to Uncle Sam. But for other transactions dealing with digital currency, youmight be in for a tax billthis season, according to one expert.
"Any sale or exchange where you're trading one cryptocurrency for another is also a taxable event," Michael Meisler, EY America’s Cryptocurrency Tax Center of Excellence leader told Yahoo Finance Live (video above). "For those that mine bitcoin, for example — merely mining it and receiving an award or reward — is considered a taxable event."
While the IRS and Treasury have issued limited guidance on how cryptocurrencies are taxed, virtual currencies are considered capital assets by the IRS and should be treated as property.
Any losses or gains should be declared on your Form 1040 and are therefore taxed as capital gains or losses. Income generated from mining cryptocurrencies is also taxable and should be included in your return.
Read more: Bitcoin and cryptocurrency tax 2021: Tips and guide
On top of Form 1040, taxpayers have to declare whether they have received, sold, sent, exchanged, or otherwise acquired any financial interest in a cryptocurrency. An incorrect response to the yes or no question may get you in trouble with the IRS.
What can make your tax returns even more complicated is if you've used bitcoin as payment for goods.
"As companies are starting to accept cryptocurrency as payment for goods," Meisler noted, "just buying that asset will require that taxpayers calculate their gain or loss on the cryptocurrency that they're using."
For example, if you decide to buy a Tesla (TSLA) vehicle (the company announced that such an option would be available this year) or something else with bitcoin as a form of payment, you must convert the crypto currency into dollars by selling the asset, which is a taxable event. Additionally, the simple act of exchanging one crypto asset for another is also considered a taxable event.
The IRS has launched more initiatives to monitor the reporting of cryptocurrencies, including the recent 'Operation Hidden Treasure' that targets taxpayers who try to conceal virtual currency income from their returns.
"The blockchain that these cryptocurrencies trade on may not show the name of the individuals trading, but it shows wallets and addresses," Meisler said. "The IRS can find the people behind them if they work hard enough at it."
Denitsa is a writer for Yahoo Finance andCashay, a new personal finance website. Follow her on Twitter@denitsa_tsekova
Read more:
• Stock market highs, booming housing, and millions unemployed: A tale of two Americas amid the coronavirus pandemic
• Taxing rich Americans gains steam as Biden and states push plans
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• Read more personal finance information, news, and tips on Cashay
Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,SmartNews,LinkedIn,YouTube, andReddit. || No Ethereum Killers For a While, Says Weiss Crypto: As Ethereum (ETH) gas fees continue to escalate, there has been a migration to faster networks, but none of them have been able to “kill ETH” yet, according to Weiss Crypto. Market analysis and risk rating firm Weiss Crypto has reported that Ethereum has made a solid recovery from the fourth market correction in the current cycle. At the time of writing, ETH was trading up 4.3% on the day, topping $2,400 again and just 5.7% off its all-time high (ATH). Bitcoin (BTC), conversely, was heading in the opposite direction, dropping 3.6% on the day and trading at $53,750, 17% down from its ATH. Weiss commented: “This show of strength from the number two cryptocurrency is very assuring for this current altcoin season and is an extremely bullish sign of things to come for alternative crypto investments. We’re doubling down on our call for altcoin season now.” No ETH killers The ratings firm also asserts that there will be no “Ethereum killers” for some time, despite the emergence of a large number of rival blockchains that are faster and cheaper to use. In a tweet on April 21, Weiss stated that it was “highly skeptical” about other Layer 1 networks catching up to Ethereum: “Some say that other L1s are “catching up to ETH,” but we’re highly skeptical. It’s the same story from 2017 where wannabe $ETH killers sacrificed all semblance of decentralization to be cheaper and faster.” The firm added that many of these rivals do not hold a candle to Ethereum, and the only hope for some of these alternatives is to become a sidechain to ETH. Weiss commented that Ethereum rivaling blockchains launched or hyped during the previous cycle, such as EOS and NEO, have not lived up to their claims of being able to “kill ETH.” The largest rival to Ethereum at the moment is Binance Smart Chain (BSC) and even that began to show signs of strain under the increased demand this week. The network’s top DEX PancakeSwap commented that BSC was “overloaded,” following complaints from users regarding failed transactions and errors. Story continues According to researchers at SIMETRI , BSC could go the same way as EOS as building larger “pipes” for faster transactions doesn’t necessarily solve the scalability issues. BSC has already been questioned over its validator centralization and without storage, computing, and availability upgrades it may eventually go the way of all the Ethereum killers before it. Ethereum gets an A- Weiss currently ranks ETH overall as A-, which is what it also gives to Bitcoin. Its closes competitor in terms of ranking by the company is Cardano (ADA) which gets a B- for technology and adoption. Polkadot (DOT), which could be considered as a serious contender to rival Ethereum, comes in with a C+, according to Weiss.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 38705.98, 38402.22, 39294.20, 38436.97, 35697.61, 34616.07, 35678.13, 37332.86, 36684.93, 37575.18
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2021-11-11]
BTC Price: 64949.96, BTC RSI: 59.60
Gold Price: 1863.20, Gold RSI: 68.99
Oil Price: 81.59, Oil RSI: 52.21
[Random Sample of News (last 60 days)]
Are Cryptocurrencies Secure? Yes and No – Here’s Why: Theblockchain technologyunderlying cryptocurrencies represents a great leap forward in security, yet some crypto investors have found themselves on the receiving end of multimillion-dollar hacks, fraud and other attacks.
What explains the simultaneous security and vulnerability of thesedigital assets, and what can advisors do to help their clients who may be at risk?
This article originally appeared inCrypto for Advisors, CoinDesk’s new weekly newsletter defining crypto, digital assets and the future of finance.Sign up hereto receive it every Thursday.
We have to understand that while transactions on a blockchain can be very secure, crypto assets themselves have similar vulnerabilities to other investments and wealth management technology, said Sid Yenamandra, the CEO of Entreda, a cybersecurity services provider for wealth management firms.
“Cryptocurrencies, specifically the underlying technology, blockchain, through its distributed ledger technology and the ability to decentralize control, inherently has a certain level of security built into its technology,” said Yenamandra. “But it is not a panacea. There are still a lot of vulnerabilities that can exist today, even in a blockchain environment. The attacks that exist, that we’ve seen, vary, some are tech related, some lie on the border between cybersecurity and privacy.”
Why are blockchain transactions secure? Yenamandra said that by creating a distributed ledger that breaks actions into blocks and spreads those blocks of work across different computational systems and relying on consensus to validate transactions, blockchains are technically inherently secure – but that doesn’t mean they’re invulnerable.
In its earliest years,Bitcoinproliferated as a pseudo-anonymous mode of transactions across the internet – even underpinning illicit business across the so-called “dark web” of unsearchable websites. It’s this checkered past that keeps some advisors, like Scott Eichler, founder and principal at Standing Oak Advisors, a Newport Beach, California-based RIA, from investing in the space.
It also raises interesting regulatory questions.
“If a bitcoin or some other type of crypto is transferred between two bad actors, for a bad use, and that is in the ledger, at what point is the bitcoin allowed completely back into the fray? Also, if I can see that a drug lord had this cryptocurrency token, and now I have it, am I contributing to the problem? Am I complicit? Do I have to delete that bitcoin? Can I advise on that?” asked Eichler.
One area of vulnerability is the still-evolving regulations governing cryptocurrencies, said Katie Horvath, chief marketing office for Aunalytics, which provides data platform and management services for businesses.
“Investing in cryptocurrencies is going to be risky because of the general lack of regulation,” said Horvath. “A fraud risk is definitely there. When we look at security, the old approach was perimeter security that put all people and data within a single building and set up a firewall. Nowadays the approach is users and credentials, and managed access for devices too, because people are now working from anywhere.”
Aunalytics now mines transactional data for banks every night using artificial intelligence, and is able to recognize customers who may be at risk for cryptocurrency fraud by virtue of their demographic group and having held-away crypto assets, which allows bank wealth managers to reach out and offer those customers investment options with more risk control.
A.I. that can identify vulnerable crypto investors is not just a cool development, it may eventually become a must-have for financial advisors across the industry. Just as in any wealth management setting, the end-client, or investor, is the weakest link, said Yenamandra.
“Some of the issues we’ve seen in reality and practice are related to missing keys, because you have this key exchange mechanism between the participants in a transaction and what happens is that sometimes those keys are stolen,” said Yenamandra. “This most recently happened in the AIPAC region withBitfinex, a crypto exchange where a bunch of keys were stolen [in 2016]. That allows people to triangulate between keys and users and figure out a way to reverse engineer transactions. The loss of keys is a cyber event, and a big vulnerability.”
Another vulnerability lies in cryptocurrencies’ reliance on technology and code transference, said Yenamandra, as any code can be exploited.
But there are structural weaknesses, too, in the third-party vendors. Cryptocurrency transactions rely on servers, often domiciled in distant countries, transferring code from point to point – but blockchain infrastructure also relies on users who have access to the servers, and the individual devices and computers are also vulnerable.
“With a blockchain, there is a lot of data moving from system-to-system-to-system, which makes the inherent network vulnerable if hackers were to do denial of service attacks or disrupt but not decipher what is going on in the communication between systems,” said Yenamandra. “Disrupting these systems would cause performance challenges and take away from what the blockchain promises to deliver. There are also potential vulnerabilities in routing networks.”
Advisors should educate themselves, and pass that knowledge on to their clients in easily digestible chunks.
“Get educated onphishing attempts, because blockchain is similar to the Venmo-based model, all your transactions are public and everyone knows how you are interacting,” said Yenamandra. “People will know if you’re doing a lot of trading with bitcoin, ether or doge, which makes you vulnerable as an end user. The weakest link from a security standpoint is always the user. In the wealth management chain, it’s always the client. They may expose themselves to an attack, but from a regulatory standpoint the axe usually falls on the advisor. The same thing will happen here.”
While the urge among advisors may be to usher their clients into a separately managed crypto account or private fund, Horvath argues that many clients will prefer tohold their assets directly, and advisors must be aware of potential risks.
“A good way to deepen a client relationship is to reach out and call clients who are investing in cryptocurrencies and offer them education, help make them aware of the risks, and make sure clients know you care,” she said. “Most wealth managers are going to want to try to offer a different type of investment that might be more secure, but it won’t necessarily meet the needs or desires of the investors who are really interested in crypto.” || Why Bitcoin-Related And Ethereum-Related Stocks Are Rising Today: Cryptocurrency-related stocks, including Marathon Digital Holdings Inc (NASDAQ: MARA ), Riot Blockchain Inc (NASDAQ: RIOT ) and Coinbase Global Inc (NASDAQ: COIN ) are trading higher amid an increase in the price of Bitcoin (CRYPTO: BTC ) and Ethereum (CRYPTO: ETH ). The cryptocurrency markets are rallying ahead of Bitcoin futures ETF application rulings that are expected to come as soon as next week. Marathon Digital is focused on mining digital assets. It owns cryptocurrency mining machines and a data center to mine the digital assets. The stock was up 6.40% at $46.38 at publication time. Riot Blockchain is focused on building, supporting and operating blockchain technologies. The stock was up 8.08% at $28.21 at publication time. Coinbase is a provider of end-to-end financial infrastructure and technology for the crypto-economy. The stock was up 3.20% at $268.32 at publication time. BTC, ETH Price Action: At time of publication, Bitcoin was up 3.93% at $59,788 and Ethereum was up 0.71% at $3,804.58 over a 24-hour period. Photo: Eivind Pedersen from Pixabay . See more from Benzinga Click here for options trades from Benzinga Why Josh Brown Bought Coinbase Shares Today Why Coinbase Shares Are Rising Today © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Well Inc. Recognized as One of Canadas Top Growing Companies in the Globe and Mails Third-Annual Business Ranking: Bitcoin Well 2021 Award Bitcoin Well 2021 Award Bitcoin Well 2021 Award 2021 Report on Business 2021 Report on Business 2021 Report on Business EDMONTON, Alberta, Sept. 27, 2021 (GLOBE NEWSWIRE) -- Bitcoin Well Inc. (TSXV: BTCW) (Bitcoin Well or the Company) is pleased to announce that we have placed in the top half of recognized companies listed in the Globe and Mails 2021 Report on Business ranking of Canadas Top Growing Companies, placing number 172 out of 448 total companies. This prestigious acknowledgement of Canadas Top Growing Companies ranks Canadian businesses on their three-year revenue growth, and our spot was secured based on our three-year revenue growth totaling 254 %. It is truly an honour to be included among the upper half of Canadas Top Growing Companies for 2021. The continued year-over-year growth that Bitcoin Well has experienced is a true testament to the hard work of our team and the increasing adoption and understanding of bitcoin in Canada, said Adam OBrien, Founder and CEO of Bitcoin Well. Today, you can find us in almost every major Canadian city with nearly 200 ATMs nationwide, and a suite of easy-to-use online services that are designed to make bitcoin accessible and understood by the masses. We are also very proud that in July of 2021, we became the first publicly traded bitcoin ATM company in the world 1 , listed on the TSX Venture Exchange (TSXV). We continue to execute an accretive growth strategy with recent notable acquisitions of ATM operators including Crypto Kiosk in northern Ontario and Enterprises Equibytes in Quebec, along with bringing new technology solutions in-house through the acquisition of bitcoin focused software developer, Ghostlab. We look forward to building on this momentum in the years to come. Launched in 2019, Canadas Top Growing Companies editorial ranking aims to celebrate entrepreneurial achievement in Canada by identifying and amplifying the success of growth-minded, independent businesses in Canada. It is a voluntary program that sees companies complete an in-depth application process in order to qualify. In total, 448 companies earned a spot on this years ranking and we are very proud to have secured the 172 nd spot. The full list of 2021 winners, and accompanying editorial coverage, is published in the October issue of Report on Business magazine which is out now and available online. Story continues As we look toward the future, Canadas Top Growing Companies offer both inspiration and practical insights for other firms facing similar challenges, says James Cowan, Editor of Report on Business magazine. The entrepreneurs behind these companies are smart, tenacious and unwavering in their commitment to their goals. Any business leader seeking inspiration should look no further than the 448 businesses on this years Report on Business ranking of Canadas Top Growing Companies, says Phillip Crawley, Publisher and CEO of The Globe and Mail. Their growth helps to make Canada a better place, and we are proud to bring their stories to our readers. About The Globe and Mail The Globe and Mail is Canadas foremost news media company, leading the national discussion and causing policy change through brave and independent journalism since 1844. With award-winning coverage of business, politics and national affairs, The Globe and Mail newspaper reaches 6.4 million readers every week in print or digital formats, and Report on Business magazine reaches 2 million readers in print and digital every issue. The Globe and Mails investment in innovative data science means that as the world continues to change, so does The Globe. The Globe and Mail is owned by Woodbridge, the investment arm of the Thomson family. 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, is the first publicly traded Bitcoin ATM company in the world, 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, and Instagram to keep up to date with our business. 1 Based on managements assessment of publicly available data. Contact Information For investor information, please contact: Bitcoin Well 10142 82 Avenue NW Edmonton, AB T6E 1Z4 bitcoinwell.com Adam OBrien , President & CEO or Dave Bradley , Chief Revenue Officer Tel: 1 888 711 3866 [email protected] For media queries and further information, please contact: Karen Smola , Director of Marketing Tel: 587-735-1570 [email protected] Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ff9d09f6-fb5f-4747-a4ba-9a1f12f164ce https://www.globenewswire.com/NewsRoom/AttachmentNg/1d7d6d17-97d9-4ebc-a044-a77d7ab61a6e || ProBit Global Will Now Offer Automated DCA Services for Cryptocurrency Traders: VICTORIA, Seychelles , Nov. 11, 2021 (GLOBE NEWSWIRE) -- ProBit Global has announced its completed integration with automated DCA bot service Deltabadger on November 3, 2021 , as part of its latest partnership to strengthen API trading services for its users. Deltabadger enables cryptocurrency traders to set up automated, long-term dollar-cost averaging strategies through strategically recurring buy and sell order cycles with a full range of time and price parameters at their disposal. As of press time, Deltabadger currently hosts 1,349 active bots, of which all bots running DCA over the past year are generating profits . BTC remains the top choice for DCA investors with 127.6 BTC in total being implemented towards fully-calibrated DCA strategies as digital gold continues to reach all-time marks. A convenient interface displays key analytics for investors to detail the current total amount purchased, the average price of purchases, total investment amount, current investment value, as well as a P/L metric to track overall growth. The DCA strategy can be an equalizing tool for newer traders, removing common barriers such as technical analysis and market assessment needed to enter a position. While some traders endorse a higher risk, higher rewards approach through a lump-sum purchase, DCA involves a steady buildup focused on minimizing risk through smaller, recurring purchases made over a consistent time frame. DCA is often endorsed as a way of hedging against market volatility while remaining in a position to capture the upticks. To further illustrate, a DCA strategy with a recurring daily purchase of $100 in BTC over the past year generated a 70% increase based on calculations by dcaBTC. ProBit Global users can set up bots by adding API keys to the Deltabadger interface to execute automated transactions for over 700 tokens. The API service provides full customization options ranging from smart intervals and customized price ranges to optimize the accumulation of accrued purchases spread out over an hourly, daily, weekly, or yearly cycle. Story continues Deltabadger’s signature smart interval option will automatically place either buy or sell orders at ProBit Global's minimum order size of 1 USDT by utilizing flexible purchasing intervals. One of the key value propositions behind smart intervals is to provide a safeguard when a cryptocurrency used to denominate minimum orders drops a specified DCA amount below the minimum. For example, a trader with a current DCA strategy capped at 1 USDT per order is currently using an exchange with a minimum order size denominated in a non-stable currency token such as BTC. If BTC were to vault upwards, the trader’s orders will no longer execute due to falling below the minimum threshold in BTC, which now exceeds his cap of 1 USDT. With the smart interval option activated, the bots would continue to fill orders at 1 USDT but at an adjusted frequency across wider intervals in order to accommodate for any price increases behind the asset, in this case BTC. Deltabadger founder Jan Klosowski, being faced with a similar predicament of being unable to purchase fractions of a precious metal coin during price increase, struck upon the novel idea of executing orders based on a time interval that would automatically adjust purchasing frequency to align with the appreciated or depreciated asset value. With smart interval activated, traders can simultaneously ensure that bots execute orders at intervals determined by their DCA purchase limit while increasing buy orders during price reductions and selling off more during bull runs. The Deltabadger team increased the cap on free subscription plans to $1,200 while unlocking unlimited transactions for any currencies on ProBit Global for 1-year plan holders. Hodler accounts can access the full range of Deltabadger’s features including limit orders, price condition, and price range settings. These features can help dampen the effects of transaction fees and spreads while ensuring orders hit in a defined price range. Deltabadger will also roll out additional tools for users to further optimize trading range, time, and frequency along with a soon to be released automatic withdrawal feature for custom transfers of accumulated tokens into non-custodial wallets. According to Deltabadger founder Jan Klosowski, “In addition to unveiling the aforementioned features over the next two months, the platform plans to release auto-rebalanced index portfolios during the following year. This will be an exciting addition for those thinking about how to manage their crypto assets long-term." ABOUT Deltabadger Deltabadger is a service that automates dollar-cost averaging into Bitcoin and other cryptocurrencies on popular exchanges. Related link on twitter: https://twitter.com/deltabadgerapp ABOUT PROBIT GLOBAL ProBit Global is a Top 20 crypto exchange worldwide servicing crypto enthusiasts with unlimited access to trade and buy Bitcoin, Ethereum and 700+ altcoins in 1000+ markets. The internationally accommodating exchange provides enterprise-scale security infrastructure and user-friendly features aimed at driving cryptocurrency adoption and financial inclusion in tandem with disruptive blockchain ventures around the globe. Social Links Telegram: https://t.me/ProbitEnglish Twitter: https://twitter.com/ProBit_Exchange/ Facebook: https://www.facebook.com/probitexchange/ LinkedIn: https://www.linkedin.com/company/probit-exchange Media Contact: Company: ProBit Global Contact: Marketing Team E-mail: [email protected] Website: https://www.probit.com/ SOURCE: ProBit Global || US whistleblower Edward Snowden says China's crypto ban has made bitcoin stronger: Edward Snowden Piaras Ó Mídheach / Getty Images Whistleblower Edward Snowden said in a tweet Sunday that China's crypto ban has made bitcoin stronger. China outlawed all crypto activity in late September. Bitcoin's decentralized nature means it operates largely outside the traditional financial system. Sign up here for our daily newsletter, 10 Things Before the Opening Bell . US whistleblower Edward Snowden believes China's recent ban on trading and mining cryptocurrencies has only served to make bitcoin stronger, according to one of his tweets on Sunday. Snowden - a former US National Security Agency contractor who rose to fame when he leaked a number of NSA documents in 2013 - is the chief executive of Freedom of Press, an organization that works to protect whistleblowers and accepts crypto donations. China said it would ban all crypto activity on September 24. At the time, the news only sent bitcoin down 6% to hover near $40,000, because the market had already largely factored in the risk of tighter restrictions after a series of government crackdowns in May. "China even banned it, but it just made bitcoin stronger," Snowden said in a tweet, claiming there has been a global campaign by governments to undermine support for and public understanding of digital currencies. Edward Snowden tweet Edward Snowden Twitter Bitcoin is the most widely traded cryptocurrency, with a market cap of $895 billion, according to Coinmarketcap . The coin was last down 1% on the day to trade around $47,550 by 07:37 a.m. ET Monday, according to Bitfinex. It's gained around 65% so far this year and nearly 350% in the last 12 months. Snowden was retweeting a post of his from March 2020, when stocks, cryptocurrencies, commodities and other assets crashed, when the pandemic forced the global economy to a near-halt. Read the original article on Business Insider || eWorld Companies, Inc., Parent of Angelini Trading Company, Has Completed All Filings Required for Current Information Status on OTC Markets: Escondido, CA, Sept. 28, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- eWorld Companies, Inc. (OTC: EWRC), announced today that the company has submitted all filings required by OTC Markets for upgrade to Current Information status, including updated financials, and expects to receive formal approval and upgrade to Current Information within the next week. In conjunction with this announcement, Pablo Gallardo Wagner, CEO of eWorld Companies, Inc., commented, “We are pleased to announce that upon the completion of our updated filings with OTC Markets we are now laser-focused on moving forward with the plans our subsidiary Angelini Trading Company has been putting in place over the past several months.” Miroslaw (Mirek) Gorny, President of eWorld Companies, Inc. and COO of Angelini Trading Company, added, “This is a significant milestone for eWorld and Angelini Trading Company. Having completed these requirements and achieving Current Information status on OTC Markets will allow us to redouble our efforts and move forward more quickly on several exciting projects we already have underway, including the release of our Bitcoin Wine NFT, the filming of our docuseries detailing the history and evolution of its subsidiary Angelini Trading Company, and the import/distribution of our Caponero and Benevento brand wines for the U.S. consumer market. We expect to release additional information about these and other projects in the near future.” ABOUT EWORLD COMPANIES, INC. eWorld Companies, Inc. is the Parent Company of Angelini Trading Company, a Los Angeles area-based company that distributes 26 varieties of wine from 5 different family-owned wineries, 2 different handmade Italian pasta factories, and a premier olive oil company that won the 2014 award for best olive oil in the world, and other specialty food items seldom seen in the U.S. market. eWorld’s top priority and sole focus now is the rollout of Angelini Trading’s line of Caponero and Benevento brand wines for the U.S. consumer market. Wines have already been delivered and purchase orders received from the first 200 retail outlets, with many additional orders and deliveries expected to be announced soon. Story continues Angelini Trading Company was formed in 2012 by Richard Angelini and his cousin, Roberto Adamo, with the objective to source the highest-level products available from the Italian peninsula for export to the rest of the world, with primary focus on the U.S. market. The Angelini and Adamo families have been merchants and artists since the 1600's. Unfortunately, Richard Angelini passed away in 2017, but the company remains in family hands with his wife, Christina now serving as the company’s President. For more information visit https://ewrcinc.com and/or https://angelinitrading.co . Safe Harbor Statement: This release contains forward-looking statements with respect to business operations and results of eWorld Companies, Inc., which involves risks and uncertainties. Actual future results could materially differ from those discussed. eWorld Companies, Inc. intends that all statements included herein, including those referring to future revenues and earnings, be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995 . Pablo Gallardo Wagner, CEO [email protected] || 4 Reasons Not to Invest in Bitcoin Futures ETFs: Bitcoin futures exchange-traded funds (ETFs) have arrived in the U.S. with the Securities and Exchange Commission (SEC) approving ProShares’ Bitcoin Strategy ETF (BITO), and a string of others is expected to follow. Should you buy any of these? As I’ve told subscribers to my Crypto Capitalist Letter , the short answer is no. Mark E. Jeftovic is the CEO of easyDNS and author of The Crypto Capitalist Letter. Here’s why: We have better ways to gain our exposure to bitcoin, and here we’ll look at why a bitcoin futures ETF has drawbacks even as compared to a spot ETF. The difference between a futures ETF and a spot ETF is that the latter holds the underlying asset in treasury. Think of a pile of gold in a vault somewhere, against which shares are issued and sold on the open market. Owning the shares correlates to claims on the assets in custody. In spot ETFs you can even redeem your shares for the assets they represent. This is also possible in cryptocurrency ETFs and closed-end funds. You can redeem your shares for the underlying bitcoin, or ethereum or whatever the vehicle is invested in. Contrast to the former, the futures ETFs. While some commodities futures contracts are for settlement in the commodity itself (urban legends abound of flat-footed traders waking up the morning of their contract’s settlement day to discover a truck pulling into their driveway and dumping a few tons of sugar or coffee beans onto their front lawn), the bitcoin futures ETFs are cash settled. That means no matter what happens to the price or what you decide you want to do with your positions in the future, there is no option for redemption of the underlying asset, you have no claim on actual bitcoin. You are only a party to a contract to settle in cash at some future date. One of the main attractions to assets like gold and bitcoin is the absence of counterparty risk. You may face custodial risk, which is a separate issue. But in terms of counterparties, when you own gold or you own bitcoin, the price is the price, and you own what you own regardless of how that affects anybody else in the world. Story continues Read more: Why a Bitcoin Futures ETF Is Bad for Investors - Michael J. Casey Below are four reasons why we’ll be avoiding these ETFs, followed by what you should buy instead. Reason #1: Counterparty risk In the movie “The Big Short,” you may remember how the protagonists (who had long predicted that the mortgage-backed securities would blow up markets) experienced a peculiar kind of angst as their trades were finally vindicated, only to find their profits in jeopardy as cascading failures blew up their counterparties. FrontPoint Partners, in particular (the team led by Steve Carell’s character), found themselves in the surreal position of their own parent bank becoming insolvent from its exposure to derivatives FrontPoint had shorted heavily. Cash-settled futures ETFs are all derivatives, and thus they all have counterparty risk. Reason #2: Diluted exposure Owing to SEC regulations (consumer protection, and all that), the bitcoin futures ETFs can only mimic exposure to bitcoin of up to 85% of the their net asset value (NAV). The other 15% has to be “safer” instruments like Treasury bills or bonds to provide some kind of cushion. Reason #3: Decay As the future contracts settlement date approaches, they have to be rolled over to the next period. That causes decay as this entails transaction costs on closing out and opening new positions. On top of that, there are the actual fund fees, which in the case of BITO is another 0.95%. (The “contango” phenomenon refers to when prices for longer-dated contracts are more expensive than shorter-dated ones.) If you own bitcoin directly, or even a spot ETF, you don’t have decay. You’re just long bitcoin and the only thing you really have to worry about is the actual price. Reason #4: Divergence Goldbugs have been complaining for decades how the paper futures markets don’t reflect the underlying value of spot gold. We see this get conspicuously out of whack during high volatility episodes like #silversqueeze, earlier this year – when physical silver was trading at premiums north of 30% on the futures price. We can see the opposite happen, like when oil futures traded at a negative value for a day on April 20, 2020. In that sense, trading futures ETFs is really more about betting on the price of the futures itself than on the underlying asset that the futures represent. The spot price and the futures price are two different things that mostly, sort of, correlate. But not always. Those times when they don’t are usually quite chaotic. Read more: Contango Conmigo: Why a Bitcoin Futures ETF Could Be a Bloody Ride - David Z. Morris What to do instead Here in Canada, this is no problem. Bitcoin and ethereum ETFs have been around for awhile now and we have multiple options to choose from. In the U.S., it can be trickier. If this is the case, then here’s two options: the Bitwise 10 Crypto Index Fund (BITW) and the Grayscale Trust Bitcoin Fund (GBTC). (Grayscale is a unit of Digital Currency Group, which also owns CoinDesk.) Grayscale has made no secret of its intention to convert to a spot ETF, and with these futures ETFs approved, they have already refiled the paperwork to do so. The Bitwise fund is mostly allocated to the top two cryptocurrencies by market cap, with 63% in bitcoin and 26% in ethereum. The remaining 10% is split across other layer 1 cryptos like cardano, litecoin, polygon and cosmos. Let the bitcoin futures ETFs increase the profile of the space and open up the asset class to previously inaccessible investors such as pension funds. But for our purposes, these instruments are for other people. || Golden Cross for Bitcoin (BTC) – Continuation of Bull Run or False Signal?: BeInCrypto –
The golden cross is one of the most popular traditional technical indicators that signals the continuation of a long-term bull market. Today, it happens for the first time on the Bitcoin (BTC) chart in 2021.
However, historical analysis shows that sometimes the golden cross in the cryptocurrency market has been a false signal. It seems that it is impossible to understand the significance of this event well without referring to the broader context of the crypto market and other conditions for the continuation of the bull run on BTC.
What is a golden cross?
A golden cross is a pattern used in technical analysis in which a relatively short-term moving average crosses above a relatively long-term moving average (MA). Its opposite is the death cross, where the contrary process takes place. The former confirms an uptrend, while the latter indicates a downtrend.
This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto || FOREX-Euro/dollar treads water as traders await clues on rate direction: * Markets calm ahead of cenbank speeches, U.S. CPI data
* Kiwi holds most of its gains on RBNZ hike speculation
* Bitcoin scales a new record high
* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E (Adds new analyst quote, details, latest prices)
LONDON, Nov 9 (Reuters) - The euro held steady against the dollar on Tuesday and most currency pairs were little changed as traders waited for U.S. inflation data later in the week and more clues from central bank governors over the direction of interest rates.
After central banks sought to push back against rising rate hike expectations last week, sending the euro and the pound tumbling, currency markets have settled back into another spell of low volatility.
The euro stood at $1.1581, unchanged on the day, and the dollar index at 94.030, also little moved.
Adam Cole, currency analyst at RBC Capital Markets, remains constructive on the dollar. That is based on a "purely vanilla nominal rates story" predicated on his prediction that the divergence in rate expectations with the U.S. would soon shrink, supporting the dollar.
"We will get better direction when we get to the U.S. CPI," he said, referring to data due out on Wednesday.
The data is expected to show U.S. consumer prices galloped and Chinese factory gate prices soared in October.
Ahead of the inflation data, a slew of central bankers is due to speak later on Tuesday, including European Central Bank President Christine Lagarde at 1300 GMT and Fed chair Jerome Powell at 1400 GMT.
Standard Chartered strategists Steve Englander and John Davies said in a research note this week that they were now expecting one rate hike from the Fed in 2022, down from a previous expectation of no hikes. But they are not changing their dollar forecasts with current market pricing for future rate rises "too aggressive".
Elsewhere, the yen rose to a one-month high of 112.73 versus the dollar after hitting a four-year low last month. The yen was last at 112.95 per dollar, leaving the greenback down 0.2% on the day.
Sterling, hammered last week in the wake of the Bank of England's surprise decision to keep rates on hold, edged up 0.1% to $1.3577, having recovered from the $1.3425 low hit on Friday.
The New Zealand dollar dipped 0.1% to $0.7163 after jumping on Monday. It has been drawing support from traders wary of the possibility that the Reserve Bank of New Zealand could raise rates by as much as 50 basis points (bps) later this month.
The risk-sensitive Australian dollar dropped 0.2% to trade at $0.7407.
Bitcoin rose to a record $68,564, pulling ether with it to a record $4,800 in Asian trading hours, before pulling back to $67,615.
(Reporting by Tommy Wilkes, Editing by Emelia Sithole-Matarise and Bernadette Baum) || Tesla Q3 Earnings Recap: Revenue Up 57% To $13.8B, Model Y Production On Track, Still Holding Bitcoin: Electric vehicle company Tesla Inc (NASDAQ: TSLA ) reported third-quarter financial results after market close Wednesday. Here are the key highlights. What Happened: Tesla reported third-quarter revenue of $13.8 billion, up 57% year-over-year. The revenue figure beat a street consensus of $13.6 billion. Automotive revenue for the company was $12.1 billion, up 58% year-over-year. Tesla reported third-quarter earnings per share of $1.86, beating a street consensus of $1.57. The company had record vehicle production and deliveries in the third quarter. Tesla produced 237,823 vehicles, up 64% year-over-year. The company delivered 241,391 vehicles. Tesla reported 83 MW of solar power in the third quarter, up 46% year-over-year. The company reported 1,295 MWh of energy storage. Tesla ended the third quarter with 630 retail stores and serviced locations. The company had 3,254 Supercharger locations and 29,281 Supercharger connectors at the end of the third quarter. Tesla reported no purchases or sales of Bitcoin (CRYPTO: BTC ) in the quarter. View more earnings on TSLA We achieved our best-ever net income, operating profit and gross profit, the company said. Teslas operating margins hit an all-time high in the third quarter despite a 6% year-over-year decline in the average sale price of its vehicles. See Also: Analyst Can See Elon Musk Becoming A Trillionaire But Not Because Of Tesla Whats Next: Tesla said it sees 50% average annual growth on a multi-year horizon. Growth will depend on equipment capacity, operational efficiencies and stability of the supply chain. We believe the more vehicles we have on the road, the more Tesla owners are able to spread the word about the benefits of EVs, the company said. The company reaffirmed guidance of the first Tesla Model Y vehicles produced at the Tesla Gigafactories in Austin and Berlin to happen before the end of 2021. Cybertruck production is making progress with a planned launch in Austin subsequent to the Tesla Model Y. Story continues Improvement for production capacity is seen by the company for its Fremont and Shanghai factories going forward. TSLA Price Action: Tesla shares closed flat at $864.97. Shares are trading modestly down to $862 after hours at the time of writing. See more from Benzinga Click here for options trades from Benzinga Elon Musk Now Worth More Than Warren Buffett And Bill Gates Combined Thanks To Strong Tesla, SpaceX Valuations #FollowFriday: 8 Twitter Accounts For Space Industry Coverage, News And Deals © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 64155.94, 64469.53, 65466.84, 63557.87, 60161.25, 60368.01, 56942.14, 58119.58, 59697.20, 58730.48
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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 2021-08-20]
BTC Price: 49339.18, BTC RSI: 69.07
Gold Price: 1781.00, Gold RSI: 47.93
Oil Price: 62.32, Oil RSI: 29.34
[Random Sample of News (last 60 days)]
Huobi-Branded HUSD Reveals Breakdown of Reserves: All Held in Cash: The reserves backing HUSD, the eighth-largest stablecoin by market cap, are all held in cash in money market accounts in the United States, the token’s issuer, Stable Universal, told CoinDesk.
It’s the first time the issuer has released such information. (EideBailly, an accounting firm, publishes monthlyattestationsthat the HUSD token is backed 1-to-1 with dollars, but has never provided a reserve composition.) The disclosure comes at a time when an increasing number of stablecoin issuers have started revealing the breakdown of their reserves, as investors and regulators demand more transparency.
“The reserves backing HUSD are currently backed 100% by cash held in money market accounts,” the company said in an email. “The current asset composition does not contain ‘cash equivalents,'” such as “U.S. government Treasury bills, bank certificate of deposits, bankers’ acceptances, corporate commercial paper, and other money market instruments.”
Related:USDT Usage on Ethereum Shifts Away From Asia Daytime Hours
Money market accounts are deposit accounts at a bank or credit union that pay interest based on the market for short-term funds. They should not be confused with money market mutual funds, which are mutual funds that invests directly in debt securities such as U.S. Treasurys and commercial paper.
Stable Universal did not give a date for the breakdown.
In May, the largest stablecoin issuer, Tether, released a breakdown of its reserves for the first time, following a settlement with the New York Attorney General’s office. Roughly half of Tether’s reserves were invested in commercial paper, the company said. To this day it has not identified any of the issuers.
In June, Circle, the issuer of the No. 2 stablecoin that plans to go public,revealedthe assets backingUSDC, after CEO Jeremy Allairepledgedto improve transparency. That disclosure said 13% of the stablecoin’s collateral was invested in Yankee certificates of deposit (CDs issued by non-U.S. banks), 12% U.S. Treasuries and 9% in commercial paper; the remaining 61% was in “cash and cash equivalents” but that figure was not broken down further.
Related:Tether’s Collapse Would Be Chaotic, Not Cataclysmic
Paxos alsorevealeda breakdown of assets backingPAXand BUSD for the first time, with 96% in cash and cash equivalents and the remaining 4% backed by U.S. Treasury bills.
ThoughUSDTand USDC still capture the largest market share, issuers of smaller stablecoins, such as BUSD, HUSD and GUSD, are releasing more information to bolster investor confidence.
“The HUSD stablecoin ensures that each HUSD is backed by 1 U.S. dollar, held in its safest form,” Stable Universal said in the statement. It aims to ensure “sufficient liquidity and guarantee for customers to redeem their stablecoin assets for fiat in real-time, regardless of market volatility,” according to the company.
“The plan is to hold these reserves in only cash, cash equivalents and short-term, low-risk financial instruments to ensure that the balance of assets held in reserve either meets or exceeds the volume of HUSD in circulation at all times,” said the statement.
Created in 2019, HUSD is a Huobi-branded stablecoin (though technically, the “H” in HUSD stands for “hot”) created by Stable Universal, a British Virgin Islands company. On June 24, Stable UniversalappointedNevada-licensed retail trust company Huobi Trust as its custodian, replacing Paxos Trust, which was the custodian when the token launched.
HUSD has a market cap of $499.6 million and a 24-hour trading volume of $46 million as of Aug. 4, according toCoinGecko.
• USDT Maintains Dollar Peg as Traders Shrug Off DOJ Tether Probe Report
• Market Wrap: Bitcoin Climbs as Elon Musk Tames Shorts || Crypto startup Phantom banks funding from Andreessen Horowitz to scale its multichain wallet: While retail investors grew more comfortable buying cryptocurrencies like Bitcoin and Ethereum in 2021, the decentralized application world still has a lot of work to do when it comes to onboarding a mainstream user base.
Phantomis part of a new class of crypto startups looking to build infrastructure that streamlines blockchain-based applications and provides a more user-friendly UX for navigating the crypto world, something that can make the entire space more approachable to a non-developer audience. Users can download the Phantom wallet to their browsers to interact with applications, swap tokens and collect NFTs.
The crypto wallet startup has banked a $9 million Series A round led by Andreessen Horowitz (a16z), with Variant Fund, Jump Capital, DeFi Alliance, Solana Foundation and Garry Tan also participating. The round, which closed earlier this summer, comes as some venture capital firms embrace a crypto future even as volatility continues to envelop the broader market. Last month, a16zannounced a whopping 2.2 billion crypto fund, the firm's largest vertical-specific investment vehicle ever.
Image via Phantom
The co-founding team of CEO Brandon Millman, CPO Chris Kalani and CTO Francesco Agosti all come aboard from crypto infrastructure startup0x.
At the moment, Phantom is best-known among the Solana community, where it has become the go-to wallet for applications on that blockchain. The startup's ambition is to interface with more and more networks, currently building out compatibility with Ethereum and looking to embrace other blockchains, aiming to be a product built for a "multichain world," Millman tells TechCrunch.
Alongside building out support for other networks, Phantom wants to build more sophisticated DeFi mechanisms right into their wallet, allowing users to stake cryptocurrencies and swap more tokens inside the wallet.
0x lets any app be the Craigslist of cryptocurrency
The startup says they have some 40,000 users of their existing wallet product.
Building out a presence on the popular Ethereum blockchain, which already has a handful of popular wallet providers, will be a challenge, but Phantom's broadest challenge is helping a new breed of crypto-curious users interface with a network of apps that still have a long way to go when it comes to being mainstream-friendly.
"The entire space is kind of stuck in this 'built by developers for other developers mode,' " Millman says. "This bar has been kind of stuck there, and no one is really stepping up to push the bar up higher."
Andreessen Horowitz triples down on blockchain startups with massive $2.2 billion Crypto Fund III || Ether Erases Early Losses to Trade Above $3K: Ethererased early losses along withbitcoinon Monday, but remains below the 2 1/2-month high of $3,188 reached over the weekend.
The native token of Ethereum’s blockchain was trading 4% higher on the day near $3,135 at press time, having touches lows near $2,900 early today, according to CoinDesk 20 data. Bitcoin, the biggest cryptocurrency by market value, was changing hands near $45,700, a 4.3% gain on the day.
Both cryptocurrencies gained ground in the days leading up to Ethereum’s supposedly bullish London hard fork on Thursday. Ether led the charge, rising from $1,700 to $2,700 in preceding two weeks and then extended gains. That’s an increase of more than 85% in less than three weeks. As such, the cryptocurrency looked ripe for a pullback and has faced selling pressure in the past 24 hours.
Related:Market Wrap: Bitcoin Rallies Ahead of Senate Compromise
“It’s a temporary pullback, typical to a move seen after a notable bull run,” Alex Melikhov, CEO and founder of Equilibrium and EOSDT stablecoin told CoinDesk early today, when ether was trading in the red below $3,000.
Analysts remain optimistic about ether’s long-term prospects. “Ether could reach a new all-time high by the year-end and rally to $10,000 or more in the next 12 months,” Jehan Chu, managing partner at Hong Kong-based crypto investment firm Kenetic Capital, said, adding that fundamentals have never looked more bullish. Equilibrium’s Melikhov is also a long-term bull.
The Ethereum Improvement Proposal (EIP) 1559 implemented as part of the London upgrade introduced a mechanism that burns a portion of fees paid to miners. So as demand for Ethereum increases, ether’s supply will decrease, potentially putting upward pressure on its price.
The options markethas seenultra-bullish flows in the wake of the change, with one institution-focused, over-the-counter platform seeing a bull call spread at the $40,000 and $50,000 strike calls expiring in March 2022.
Related:Crypto Coin Listings Exploded in 2021
Chu, however, said there could be some bloodletting in the near term due to regulatory concerns. “Ether may fall to $2,000 or below,” Chu said. “The regulatory crackdown on Binance has triggered fears that other exchanges may be in the line.”
Both Chu and Melikhov mentioned the U.S. infrastructure bill that targets crypto-tax reporting as a source of uncertainty for cryptocurrencies in general.
While the infrastructure bill was set to be voted on over the weekend, no outcome has been decided for the so-called Portman amendment that will potentially subject more crypto investors to higher taxes and punish proof-of-stake (PoS) protocols in favor of proof-of-work (PoW).
“The amendment, while not yet passed, could have significant implications for PoS networks and set tax reporting compliance barriers that could arguably be insurmountable for many firms which operate in the decentralized finance space,” Simon Peters, a market analyst at eToro, said in an email. “Obligations to provide tax reporting would be essentially impossible on decentralized exchanges where customers are unidentifiable.”
“It also appears to favor crypto assets such as bitcoin, which are reliant on PoW and would be exempt from such reporting under the amendment,” Peters wrote. Ethereum’s blockchain, which dominates the decentralized finance (DeFi) space, is switching to the less energy-intensive proof-of-stake mechanism.
Alsoread:What Crypto Analysts Are Saying About the Ethereum Hard Fork
Chu and Melikhov also mentioned the U.S. Federal Reserve potentially easing its quantitative-easing program as a major factor that could put downward pressure on crypto prices. The U.S. nonfarm payrolls, or monthly jobs, data beat estimates on Friday, reviving fears of an early Fed taper, or gradual scaling back of stimulus. While gold has taken a beating in the wake of the upbeat U.S. numbers, cryptocurrencies have remained relatively resilient.
The yellow metal flash crashed to a four-month low of $1,682 an ounce in Asia and was last trading near $1,740, down 1% on the day.
• Bitcoin Holds Support; Next Resistance at $50K
• Crypto Long & Short: How Do You Measure Relative Value in Crypto? || Tech leads way to Wall Street rebound as Powell promises steady hand: By Pete Schroeder WASHINGTON (Reuters) -Wall Street rebounded Tuesday as Federal Reserve Chairman Jerome Powell vowed not to raise rates too quickly as the dollar and oil gave up earlier gains. Led by the tech-heavy Nasdaq Composite, Wall Street closed Tuesday higher, bouncing back from a sell-off set off last week by a Fed policy update that suggested officials believed rates would rise more quickly to counter rising inflation. The Nasdaq closed at another record high, as top-shelf tech companies resumed their growth trajectories. The Dow Jones Industrial Average rose 68.61 points, or 0.2% and the S&P 500 gained 21.65 points, or 0.51%. to 4,246.44 and the Nasdaq Composite added 111.79 points, or 0.79 percent, to 14,253.27. The MSCI world equity index, which tracks shares in 45 nations, rose 4.4 points or 0.62%. "I really think there's a realization that this is a ripe environment: rates are still low and for stock investors, this hits a 'just right' tone," said Patrick Leary, chief market strategist at Incapital. "The market is concerned about rising inflation numbers and was getting more unnerved as the Fed dismissed them until last week’s meeting." Testifying before Congress, Powell vowed that the Fed will not raise rates out of fear of potential rising inflation, and instead will prioritize a "broad and inclusive" recovery of the job market. He said recent price increases do not suggest higher rates are needed, and instead can be attributed to categories directly impacted by economic reopening. "After the FOMC took the wind out of the reflation trade at the end of last week, that’s started to reverse over the last two days. It seems last week’s price action went too far," said Stephanie Roth, senior markets economist for J.P. Morgan Private Bank. Powell's remarks pushed yields on benchmark 10-year Treasuries lower, dipping to yield 1.4649% after clearing 1.5% earlier in the day. Story continues The dollar also dipped as Powell spoke, with the dollar index falling 0.20% to 91.733. It is holding below a two-month high of 92.408 reached on Friday. Oil slid slightly after Brent rose above $75 a barrel for the first time in over two years, as OPEC+ discussed raising oil production. Brent crude futures settled down 9 cents to $74.81 a barrel after hitting a session high of $75.30 a barrel, the strongest since April 25, 2019. U.S. West Texas Intermediate (WTI) crude fell 60 cents, or 0.8%, to $73.06 a barrel. Bitcoin began making a comeback of sorts, climbing back above $30,000 after hitting lows not seen since January. The cryptocurrency last traded at $32,831, but has nearly halved in value over the last three months. Bitcoin and other cryptocurrencies came in for heavy selling on Monday, hurt by a tightening crackdown on trading and mining in China. Spot gold prices fell $4.8691 or 0.27%, to $1,778.08 an ounce. (Reporting Pete Schroeder in Washington; Editing by Dan Grebler and Lisa Shumaker) || Mexico says cryptocurrencies are not money, warns of risks: By Anthony Esposito and Abraham Gonzalez MEXICO CITY (Reuters) -Mexican financial authorities on Monday said that crypto assets are not legal tender in Mexico and are not considered currencies under current laws, warning that financial institutions that operate with them are subject to sanctions. The joint statement by the Bank of Mexico, finance ministry and banking regulator comes after Mexican billionaire Ricardo Salinas Pliego on Sunday said his banking business, Banco Azteca, may begin using bitcoin, which would make it the country's first bank to start accepting the cryptocurrency. Earlier this month, El Salvador made a dramatic move to make bitcoin a legal tender, a world first. "The financial authorities reiterate their warnings ... on the risks inherent in the use of so-called 'virtual assets' as a means of exchange, as a store of value or as another form of investment," the statement said. "The country's financial institutions are not authorized to carry out and offer to the public operations with virtual assets, such as Bitcoin, Ether, XRP and others in order to maintain a healthy distance between them and the financial system." Mexican financial institutions must also avoid transmitting to their clients the risks associated with cryptocurrency operations, the statement said, adding that the use of so-called stablecoins - a form of cryptocurrency usually pegged to a traditional currency - was not permitted under current Mexican law. Finance minister Arturo Herrera said at a news conference that under current rules cryptocurrencies are prohibited from being used in the Mexican financial system, underscoring that the prohibition will likely not change in the near term. Cryptocurrencies tend to be volatile and speculative assets and while they can be traded, they do not serve the same function as money, "since their acceptance as a means of payment is limited and they are not a good reserve or value reference," said the statement. Story continues The stern warning was seen as aimed at halting Salinas Pliego, an ally of President Andres Manuel Lopez Obrador's MORENA party. The magnate had previously backed a MORENA bill that would have forced the Bank of Mexico to buy up foreign cash in a bid to help migrants and tourists repatriate U.S. dollars. The bill, seen largely benefiting Azteca, one of the country's leading remittance processors, was eventually overhauled but not before it shook confidence in the country's financial system as authorities said it could compel the central bank to add laundered drug money to its reserves. "It's a reaction to the comments Salinas Pliego made over the weekend. It's a way of saying his bank can't accept bitcoins even though he wants to ... it's a way of putting a stop to him," said Luis Gonzali, co-director at Franklin Templeton Investments in Mexico. (Reporting by Anthony Esposito and Abraham Gonzalez; Additional reporting by Sharay Angulo; editing by Jonathan Oatis and Aurora Ellis) || The Surge of Young Investors: Shocking Number Entered Market in Past 6 Months: One of the most striking phenomena of thepandemic has been the rise of retail investors,who became savvier and more self-educated amidst economic uncertainties and market volatility. What’s even more surprising is the surge of younger investors who entered the financial market: A new GOBankingRates survey found that a whopping 71.96% of respondents in the 18-to-24-year age group who are currently invested in the stock market said they started investing in stocks and/or cryptocurrency within the last six months.
More:How To Invest in Stocks: A Beginner’s Guide
Andrew Murray, GOBankingRates content data researcher, says that the surge in young investors entering the market can be attributed to the introduction of easy-to-use investing apps such as Robinhood, as well asCoinbase for crypto, into the mainstream zeitgeist.
“When the news covers these apps, obviously you will see an influx of users of all ages, but I believe the investing community on Reddit really drove the bulk of new young investors to try their hand at the market and cryptos,” Murray says.
Read:Is Crypto Mainstream Now? Over 4/10 Investors Report Putting Money Into Cryptocurrency
“Simultaneously we saw the rise of ‘meme stocks/coin’ like GameStop or AMC stocks andDogecoin for crypto. These movements were almost entirely born online and led by young and even first-time investors,” he adds.
The sentiment is echoed by Peter Jensen, CEO of crypto payment processing company RocketFuel Blockchain, who tells GOBankingRates that digitally native financial services providers such asRobinhoodknow their audience well and are tailoring their offerings to attract younger investors.
Check out:The Best Trading Apps for New Investors: Robinhood and Beyond
“They make investing easy and even fun through gamification, encouraging them with conversational information and intuitive or familiar interfaces. Their message of ‘democratizing finance’ is appealing to younger generations and has driven millions of sign-ups, along with low barriers to entry,” Jensen says.
Learn:Investing Apps for Teens: Educational or Risky?
In addition to the ease of use, apps such asRobinhood allow retail investors to buy fractional shares. “Having the option to purchase a fraction of a share, rather than the full amount, makes investing possible for nearly anyone,” says Nishank Khanna, Clarify Capital CFO.
Other social platforms including Reddit and TikTok have also contributed to this massive influx of young investors in the financial markets.
“Financial influencers on TikTok and other platforms have gained a following among young people,” says Ann Martin, Director of Operations of Credit Donkey Credit Card Processing. “For better or for worse, their ability to synthesize information and advice has attracted the attention of young people who may otherwise not be interested in the potential of investments,” she adds.
Check Out:5 Brands to Invest In, According to TikTok
Reddit also played a massive role, notably via the subreddit /Wallstreetbets, which young investors have flocked to. It’s set a new baseline for speculative investments, according to Alexander Voigt, founder of daytradingz.com. “Young people go all in with every cent they have and speculate on massive gains in meme stocks,” Voigt says. “GME and AMC are gaining popularity for a few weeks again and climbing steadily. Even rumors of investing in NFT platforms and the potential of people returning to cinemas in case of AMC are enough to push the prices higher alongside the‘hold the line’ mentality from Reddit forums.”
See:Why Is AMC All Over the Place? What You Need to Know Before You Invest — or SellFind:Experts Weigh in on 10 Top Personal Finance Topics Redditors Love To Debate
An additional factor to take into consideration is that a sense of belonging played a role in this surge.
“Participating in forums, YouTube comments and memes is what drives a lot of them as well,” says Adrian Volenik, Chief Editor of TopMobileBanks.com.
Another important factor is that these trading apps also enable younger users, or Gen Z – people born after 1997, to make investing accessible with little amounts of money.
Indeed, another key finding of the survey is that 51% of the respondents in the 18-24 age group say they are investing $2000 or less currently. The most popular tranche of investing amount for that age group is in the $1,000 to $1,999 range, with 22.18%, according to the survey.
Learn:25 Money Experts Share the Best Way to Invest $1,000
In comparison, the survey shows that 44.39% of respondents in the 25 to 34 age group say they have $2000 or less invested currently, with $1 – $500 being the most popular investing tranche, at 21.12%.
A recent Schwab survey corroborates these findings, noting that the pandemic gave birth to a new generation of investors, as 15% percent of all current U.S. stock market investors say they first began investing in 2020.Schwab refers to this new group of investors as “Gen Investor,” (Gen I)and says that with found time and unprecedented change, “Gen I buckled down and started investing to build an emergency fund and gain an additional source of income.”
“We’ve seen tremendous growth and engagement among individual investors over the past year as a result of lower trading costs, new products and services aimed at greater ease and accessibility, and the investing opportunities presented by market volatility,” Jonathan Craig, Charles Schwab senior executive vice president and head of Investor Services said in the study.
Look:What $1,000 Invested In Stocks 10 Years Ago Would Be Worth TodayLearn:Every Stock That Warren Buffett Owns, Ranked
Another key finding of the GOBankingRates survey is that more than 50% in general of all survey respondents say they were driven to start investing and/or add crypto to their portfolio in the past six months. Steve Ehrlich, CEO of crypto trading platform Voyager Digital, told GOBankingRates recently that the rise of retail investors is an indication of how everyday people are taking control of their money, expanding their financial literacy, and looking for more ways to grow their wealth.
“It gives more people the chance to have access to financial systems that traditionally benefited accredited investors and institutions. Today’sfintech platforms offer the retail investor easy-to-use investing platforms at a low cost. On top of that, crypto trading specifically opens up a whole new world of opportunity for the everyday investor with a new asset class of investment vehicles,” Ehrlich told GOBankingRates.
Check Out:10 Best Cryptocurrencies To Invest in for 2021Counterpoint:Is it Too Late to Invest in Crypto?
However, some experts argue that while the democratization of investing and the influx of young participants is a positive development, distinguishing between speculation and investing is paramount. Robert R. Johnson, Professor of Finance, Heider College of Business, Creighton University says that the majority of these young participants are not investors — they are speculators.
Beware:20 Worst Mistakes Rookie Investors Make
“Many speculators in GameStop or the other meme stocks are trying to convince themselves that they are investors and that apps like Robinhood have democratized investing,” he says. “What these apps have done is democratized speculation, as many of the investors in Bitcoin or GameStop have no fundamental basis for making their decisions, they simply are investing because the asset is going up in value. There are so many corners of the current financial markets that are rife with speculation. One potential good outcome of the current trend toward speculation is that one learns by doing.”
More:Why You Shouldn’t Jump On Investing Bandwagons
However, he warns that while the democratization of investing is a “wonderful force,” what we are witnessing is the democratization of “speculating” and that is a dangerous trend. “They are not learning about how to value securities. They are not learning anything about investing. And my fear is that many will lose money, conclude that the markets are a game rigged against them and simply exit financial markets,” he adds.
Want to Educate Yourself About Investing? Here are Some GreatResources:
• How To Invest in Stocks: A Beginner’s Guide
• How to Buy Stocks Online in 4 Easy Steps
• The Complete Guide to ETFs
• Why It’s Never a Bad Idea To Invest In Apple and These Other Companies
• Buy, Sell or Hold: How to Make the Right Stock Decisions
Methodology: GOBankingRates surveyed 999 Americans aged 18 and older from across the country on May 10, 2021, asking six different questions: (1) Where are you currently investing and/or saving your money? Select all that apply; (2) Which of the following most closely matches your investing goals?; (3) If you received an extra $1,000, which ONE of the following do you think is the best way to invest it?; (4) Do any of the following statements about investing in cryptocurrencies apply to you? Select all that apply; (5) When did you first start investing your money in the stock market (not including retirement accounts like an IRA or 401k) and/or cryptocurrencies?; and (6) How much money do you currently have invested in stocks or cryptocurrency?. All respondents had to pass a screener question of: Are you currently investing/have money in the stock market?, with an answer of “Yes”. GOBankingRates used PureSpectrum’s survey platform to conduct the poll.
This article originally appeared onGOBankingRates.com:The Surge of Young Investors: Shocking Number Entered Market in Past 6 Months || Xfuels Inc. Shareholder Update July 2021: $XFLS - Xfuels Inc. Xfuels - Clean Petroleum & Power Xfuels - Clean Petroleum & Power Calgary, Alberta, July 08, 2021 (GLOBE NEWSWIRE) -- Xfuels Inc. (OTC PINK: XFLS) is pleased to report the following Shareholder update. Corporate Matters On June 25 th , 2021, the company upgraded its status to Pink Current on OTC Markets by filing its outstanding disclosures, Phase 1 of our corporate plan is now completed. The company has started Phase 2 of our corporate plan which will include audited financials and applying for OTCQB status under OTC Markets Alternative Reporting Standard. Xfuels is targeting mid to end of August 2021 to complete Phase 2 of our corporate plan. Phase 3 of the corporate plan will be to bring all filings current with the SEC and rescind our Form 15 and continue on as a reporting issuer. Since the company needs to produce all the filings from Year End 2016 to present including all Ks and Qs, we expect Phase 3 to be completed on or before end of October 2021, depending on the level of work required. At that time Xfuels will be able to apply to remove the restriction on its common stock in Alberta. Xfuels also intends to cross list our common shares in Canada on a recognized exchange. The company is presently working with consultants to determine which exchange will be best fit for our company. Oil & Gas The past few months have been very productive for Xfuels and its subsidiaries, Cycle Energy Services has completed several workovers in the Redwater Field including one well that produced 97 Barrels per day in flush production and lasted for several weeks before settling in at an average of 50 barrels per day. Cycle Oil & Gas continues to enhance the wells acquired from Energy Express Canada Corp to Cycle Energy corporate standards like upgraded containment and replacement of outdated tanks and other field equipment. Having Indigenous leadership in Cycle Oil & Gas the company takes its ESG (Environmental, Social, Governance) obligations very seriously. Cycle Oil & Gas has always focused on environmental and good neighbor stewardship as the keystone in the foundation of our company. Story continues Cycle Energy Services will complete two more workovers and one abandonment before heading into the field to continue on our SRP grants and completing those over the summer months. As of now Cycle Oil & Gas has met and exceeded its yearly Asset Retirement Obligation (ARO) and moving into fall months will have Cycle Energy Services complete the rest of the workovers in our Norris and Foley field for strong production going into the winter months. The company has also implemented a chemical program for wax reduction that will help keep fluid flowing over the winter. Power Production On April 22 nd , 2021, Xfuels announced it has entered into a purchase agreement for an incinerator plant, support equipment and associated vacant 3.78 acres in Bieseker, Alberta. To date we are working to close the purchase and intend to have the paperwork in order shortly. In the meantime, the Vendor and Xfuels are cooperating to move the project forward regardless of the timing of the closing. Xfuels has begun to move in and occupy the building and offices and the retrofit on the small incinerator has begun. The company is converting the standard burners to our proprietary non-thermal plasma torches and the currently is entertaining quotes on 1MW biogas/syngas generator packages. Contractors have been called in to provided quotes and proposals to retrofit the large incinerator into a gasifier using Cycles propriety non-thermal plasma torch and associated proprietary technologies. The plant currently has a switchgear capacity of 6MW which the company will fill that capacity in 1MW stages. Xfuels has also been negotiating with local providers of Bitcoin units for our stranded gas assets in Cycle Oil and Gas as well as the Bieseker plant. The company intends to have our first unit implemented over the summer months as per our previous schedule. New Acquisitions Xfuels has now turned its attention to acquire Oil & Gas properties in the United States. The company is presently looking at several potential acquisitions in both Texas and Oklahoma. The company is working towards completing one or more of potential acquisitions by the fourth quarter 2021 and will schedule Cycle Energy Services workover rigs over the winter months to bring on shut-in production. The work will include workovers, service, up hole opportunities as well as drilling opportunities. About Xfuels Inc. Xfuels Inc. is a fully integrated energy company that products responsible products both traditional and renewable. Our continued focus on carbon footprint reduction and cutting-edge technologies not only benefit the environment and local communities but also add value to Xfuels bottom line. Cycle Energy Services Cycle Energy Services owns and operates combo wireline-service rigs and Hydrovac Units. The focus of Cycle Energy Services is primarily end of life abandonment and reclamation of non-producing assets. The company excels by supplying fixed cost services via our custom rigs and equipment that results in reduced time onsite, faster rig in and rig out times as well as reduced number of vehicles onsite. Cycles efficiencies reduce the amount of fuel burned to complete the abandonment and reduces the carbon footprint to abandon wells. Cycle Hydrocarbon Technologies provides both R&D capabilities as well as previously developed and licensed technologies that aid in increased production, reduced lifting, and operation costs as well as gas and oil field intelligence. Cycle Energy Technologies immediate focus our small-scale Blue Hydrogen production plants are scheduled to roll out mid to late summer 2021 our flag ship technology the mobile GTL (gas to liquid) system will roll out shortly after. This technology brings forth increased value to the group through Cycles internal production of gas. The value is added by turning the gas into chemicals and C5+ hydrocarbons as a 3-4x multiple which is industry groundbreaking. Cycle Oil and Gas Xfuels owns 40% of Cycle Oil & Gas through its ownership in Cycle Energy Industries Inc. Cycle Oil & Gas focuses on acquiring & optimizing underdeveloped oil & gas assets and employs in-house developed & licensed technologies to increase production, optimize performance & reduce costs. The company currently produces approximately 80 barrels/day of oil as well as several non-operational properties and GORRS (Gross Overriding Royalties). Safe Harbor This release contains statements that constitute 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. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief, or current expectations of Xfuels Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Xfuels Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Xfuels Inc.'s filings with the Securities and Exchange Commission. For further information please contact : Xfuels Inc. Public Relations and Shareholder Information Email: [email protected] Attachment $XFLS - Xfuels Inc. || Crypto update: Bitcoin recovers even as 'hype leaves market': 'If we compare today to the April highs, we can say with absolute certainty that the hype has left the market,' said one analyst. (thamerpic via Getty Images) Cryptocurrencies were recovering slowly but steadily from an earlier sell-off but are once again down on Wednesday, with bitcoin’s price quite a distance from its all-time high of $63,000 (£45,552) in April. Bitcoin ( BTC-USD ) fell 0.7%, trading at $34,891 on Wednesday morning. “If we compare today to the April highs, we can say with absolute certainty that the hype has left the market,” said Mati Greenspan, CEO of Quantum Economics. He also noted that the average number of transactions per day on the bitcoin blockchain has dropped to levels “not seen since the darkest days of crypto winter” which was about a decade ago. But he said this is a good thing as the average transaction fee for sending bitcoin, which at one point was more than $60, has come back down to a "manageable level" of around $8. “As someone who uses the main chain fairly frequently, I'm kind of grateful for the discount, even though it means the value of my stack has been slashed.” Bitcoin had earlier crashed because of regulatory action in China, which included a crackdown on crypto mining. However, it managed to stay steady despite the UK's financial regulator clamping down on Binance Markets. Bitcoin's price was down on Wednesday morning. Chart: Yahoo Finance UK Over the weekend the Financial Conduct Authority ordered Binance, one of the world’s largest bitcoin exchanges, to remove all advertising and financial promotions by 30 June. "The king of cryptocurrencies has made a significant recovery from its recent slump… In contrast, the bulls have carried digital assets above their 20-day average," said Naeem Aslam, chief market analyst at Ava Trade. "Crypto traders should keep a close eye on the notorious currency's price chart as it approaches its 50 day simple moving average, a critical level that is currently near $38,221." He said investors are still interested in and even optimistic about the future of cryptocurrencies. Meanwhile, ethereum ( ETH-USD ), the world’s second largest cryptocurrency, was down 0.4%, trading at $2,140. Story continues “July could be a pivotal month for ethereum as the number two cryptocurrency works on key upgrades,” said David Russell, vice president of market intelligence at TradeStation Group. “The efforts follow a sharp pullback in its price, which may create opportunities for investors.” Watch: What are the risks of investing in cryptocurrency? || Bitcoin Rangebound Near $50K Resistance; Support at $40K: Bitcoin (BTC) is stuck in a sideways range as the short-squeeze rally takes a breather. Buyers could start to take profits ahead of the $50,000 resistance level, although support around $40,000-$42,000 could stabilize a pullback.
The world’s largest cryptocurrency by market value was trading around $46,900 at press time and is roughly flat over the past week.
• The relative strength index (RSI) on the daily chart is declining from overbought levels, which typically precede price pullbacks. The RSI has a slight negativedivergencewith price as upside momentum wanes.
• Bitcoin is trading around the 200-day moving average and will need to break out of a short-term range to resume the uptrend.
• Support is seen around the top of the prior two-month consolidation phase between $40,000 and $42,000. A successful re-test of these levels could yield further upside towards $50,000 and $55,000.
• US Mortgage Lender UWM Plans to Accept Bitcoin Payments
• Bitcoin Showing Signs of ‘Short-Term Fatigue’ Near $50K Ahead of Possible Continuation
• Market Wrap: Bitcoin Rally Expected to Pause
• Crypto Funds Suffer 6th Week of Outflows Despite Bitcoin Rally || FTSE 100 set to fall despite news of booming retail sales: The FTSE 100 was set to open up slightly down today as the weeks-long tussle between bulls and bears over the easing of Covid restrictions continues apace.
After yesterday’s see-saw session that saw London shares fall in the morning and rise in the afternoon, few were committing big wagers before the opening. Futures markets indicated a fall of nearly 8 points to 7128, with slightly more traders on the IG platform betting it would go higher than that.
Bitcoin has been having another shocker, tumbling 4% in the past 24 hours to $32,847, losing the bounce cryptocurrencies enjoyed on Monday.
Bitcoin has been trading within a range of about $36,000 and $32,000 since late June.
In less random asset classes, some stocks could benefit today from positive news on retail sales, which jumped at record rates in the second quarter of the year.
Sales were boosted by loosening lockdown restrictions and the Euros from April to June, overnight data from the British Retail Consortium showed.
That will give rise to hopes of further benefits to shops from the “Freedom Day” openings on Monday, when mask wearing becomes optional, potentially prompting more to go out and shop.
The impact is far from clear, though, with Boris Johnson yesterday urging the nation to be cautious in their behaviour.
That could put off many shoppers, either deciding that being “cautious” means minimising non-essential shopping, or worrying that other people will be reckless and, like some Tory backbenchers have pledged to do, binning their masks.
Those most willing to return to normal behaviour on Monday might look to Israel, which has some of the highest vaccination rates, yet has just started reinstating restrictions due to the rapid spread of Covid variants.
On Wall Street last night, shares roared ahead in anticipation of bumper profits from America’s biggest companies as they enter the second quarter results publication season.
JPMorgan and Goldman Sachs kick off today with expectations of strong figures, albeit probably weaker than than the first quarter, when high volatility of prices meant for more clients trading and higher commissions.
JP CEO Jamie Dimon has already told the world not to expect Q2 to be as strong as Q1, highlighting how demand for new loans was likely to have fallen somewhat.
Asia markets this morning were strong, with the Chinese CSI 300 Index jumping more than 1% following a surprise pip upwards in exports since May. June’s trade numbers showed a slowdown in June, but only as expected following the bumper 51% leap in May year-on-year.
June numbers showed imports up 36.7% and exports by 32.2%, partly skewed by the rise in commodities prices.
On exports, demand from nearby countries like South Korea were the main drivers of growth, while US exports slowed to 17.8%. Some investors may read that as a bearish sign on demand in the US economy.
Later today comes further information on the global direction of inflation.
German and French inflation data, likely to show 2.1% and 1.9% on the consumer prices index measure, CMC Markets said. US data this afternoon will be closely watched for evidence recent price rises aren’t quite as temporary as the Federal Reserve says they are.
May’s figure showed CPI at 5%, fuelled by high second-hand car and truck prices, which could prove transitory. However, as CMC told clients this morning, surging prices of goods leaving the factory gate suggest shop prices will follow suit. May producer prices hit their highest levels in more than 10 years.
Markets predict June CPI in the US to be steady at 5%.
Last week’s fall in bond yields suggests most investors believe the Fed when it says it feels inflation is temporary, so monetary policy should remain super-easy, with low interest rates and high levels of bond buying.
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[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 48905.49, 49321.65, 49546.15, 47706.12, 48960.79, 46942.22, 49058.67, 48902.40, 48829.83, 47054.98
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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.
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[Technical Analysis for 2021-06-10]
BTC Price: 36702.60, BTC RSI: 43.71
Gold Price: 1894.20, Gold RSI: 62.55
Oil Price: 70.29, Oil RSI: 67.38
[Random Sample of News (last 60 days)]
Explainer: What Beijing's new crackdown means for crypto in China: SHANGHAI (Reuters) - Chinese regulators have tightened restrictions that ban financial institutions and payment companies from providing services related to cryptocurrencies, marking a fresh crackdown on digital money.
Compared with a previous ban issued in 2017, the new rules greatly expanded the scope of prohibited services, and judged that "virtual currencies are not supported by any real value".
WHAT ARE THE NEW MEASURES?
Three financial industry associations on Tuesday directed their members, which include banks and online payment firms, not to offer any crypto-related services, such as account openings, registration, trading, clearing, settlement and insurance, reiterating the 2017 ban.
But the new ban, which was posted by the People's Bank of China (PBOC), also covers services that were not previously mentioned.
For example, it made clear that institutions must not accept virtual currencies, or use them as a means of payment and settlement. Nor can institutions provide exchange services between cryptocurrencies and the yuan or foreign currencies.
Additionally, institutions were prohibited from providing cryptocurrency saving, trust or pledging services and issuing crypto-related financial products. And virtual currencies must not be used as investment targets by trust and fund products.
Banks and payment companies were also urged to step up monitoring of money flows involved in cryptocurrency trading, and coordinate more closely in identifying such risks.
The directives were made in a joint statement from the National Internet Finance Association of China, the China Banking Association and the Payment and Clearing Association of China.
WHAT WERE EARLIER RULES IN CHINA AGAINST CRYPTOCURRENCIES?
China does not recognise cryptocurrencies as legal tender and the banking system does not accept cryptocurrencies or provide relevant services.
In 2013, the government defined bitcoin as a virtual commodity and said individuals were allowed to freely participate in its online trade.
However, later that year, financial regulators, including the PBOC, banned banks and payment companies from providing bitcoin-related services.
In September 2017, China banned Initial Coin Offerings (ICOs) in a bid to protect investors and curb financial risks.
The ICO rules also banned cryptocurrency trading platforms from converting legal tender into cryptocurrencies and vice versa.
The restrictions prompted most such trading platforms to shut down with many moving offshore.
The ICO rules also barred financial firms and payment companies from providing services for ICOs and cryptocurrencies, including account openings, registration, trading, clearing or liquidation services.
By July 2018, 88 virtual currency trading platforms and 85 ICO platforms had withdrawn from the market, the PBOC said.
WHY HAS CHINA TIGHTENED REGULATION?
The global bitcoin bull run has revived cryptocurrency trading in China.
Tuesday's industry directive warned speculative bitcoin trading had rebounded, infringing "the safety of people's property and disrupting the normal economic and financial order."
Many Chinese investors were now trading on platforms owned by Chinese exchanges that had relocated overseas, including Huobi and OKEx. Meanwhile, China's over-the-counter market for cryptocurrencies has become busy again, while once-dormant trading chartrooms on social media have revived.
China-focused exchanges, which also include Binance and MXC, allow Chinese individuals to open accounts online, a process that takes just a few minutes. They also facilitate peer-to-peer deals in OTC markets that help convert Chinese yuan into cryptocurrencies. Such transactions are made through banks, or online payment channels such as Alipay or WeChat Pay.
Retail investors also buy "computing power" from cryptocurrency miners, who design various investment schemes that promise quick and fat returns.
Meanwhile, cryptocurrencies' potential threat to China's fiat currency, the yuan, has spurred the PBOC to launch its own digital currency.
WHAT'S THE IMPACT OF THE CRACKDOWN?
The fresh crackdown makes it more difficult for individuals to buy cryptocurrencies using various payment channels, and could impact miners' business by making it harder for them to exchange cryptocurrencies for yuan.
But banks and payment companies also face challenges of identifying money flows related to cryptocurrencies.
Winston Ma, NYU Law School adjunct professor and author of the book "the Digital War", said the new rules were designed to completely cut crypto-related transactions out of China's financial systems, and expects the government to roll out new regulations targeting crypto assets.
Hong Kong's Bitcoin Association said in a tweet in response to China's reiterated ban: "For those new to bitcoin, it is customary for the People's Bank of China to ban bitcoin at least once in a bull cycle."
(Reporting by Andrew Galbraith and Samuel Shen; Editing by Sam Holmes and Hugh Lawson) || Forget Bitcoin and Ethereum: 10 Best Cryptocurrencies Redditors are Buying: In this article, we will take a look at the10 best cryptocurrencies Redditors are buying. You can skip our detailed analysis of these cryptocurrencies, and go directly to5 Best Cryptocurrencies Redditors are Buying.
The free fall in the prices of cryptocurrencies over the past week has exacerbated investor concerns around volatile technology stocks. However, market experts like Cathie Wood, who reportedly holds the largest institutional investment in cryptocurrencies through her firm,Ark Investment Management, have dismissed the recent fall in value of digital assets as a temporary setback, backing currencies like Bitcoin to touch record highs of $500,000 in the coming years.
Other big names in the finance world have also backed her point of view. Angel investor Balaji Srinivasan, who has been a longtime advocate of the wider adoption of cryptocurrencies and has an uncanny knack of predicting future market direction, recentlyunderlinedhis bullish view on digital assets in a media interview, mentioning` certain environmental-related and regulatory concerns around coin mining two months before Tesla, Inc. (NASDAQ:TSLA) chief Elon Musk raised them publicly to the detriment of popular cryptocurrencies like Ethereum.
Tesla, Inc. (NASDAQ: TSLA) also suspended Bitcoin payments for vehicle sales after the Musk tweet regarding the coin mining methods, sending stocks of firms that deal in crypto, like PayPal Holdings, Inc. (NASDAQ:PYPL) and Square, Inc. (NYSE:SQ), tumbling to new lows after a record rally witnessed over the past twelve months. PayPal Holdings, Inc. (NASDAQ: PYPL) and Square, Inc. (NYSE: SQ) are two of the largest digital payments companies in the world and have helped bring cryptocurrencies into the mainstream.
Amid the buzz around crypto stocks in general, American investment bank The Goldman Sachs Group, Inc. (NYSE:GS) has released areportunderlining why it expects certain cryptocurrencies like Ethereum to perform better than peers like Bitcoin in the long run. The Goldman Sachs Group, Inc. (NYSE: GS) is offering investors exposure to crypto investments and has opened a cryptocurrency trading desk recently as well. The Goldman Sachs Group, Inc. (NYSE: GS) is one of the most well established finance institutions in the world.
The crypto endorsement by The Goldman Sachs Group, Inc. (NYSE: GS) is seen by many as a watershed moment for the industry that will accelerate the adoption of digital currencies around the world. However, there is also reason to be cautious about the new trend as regulatory concerns, evidenced by a recent Chinese crackdown on banks facilitating crypto transactions, still overshadow the potential benefits of using cryptocurrencies. Price volatility of digital assets has also been a cause for investor discomfort.
However, even with all the problems, it is fair to say that the crypto revolution of the past decade has changed market dynamics on a fundamental level. The entire hedge fund industry is feeling the reverberations of the changing financial landscape. Its reputation has been tarnished in the last decade, during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. On the other hand, Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 124 percentage points since March 2017. Between March 2017 and February 26th 2021 our monthly newsletter’s stock picks returned 197.2%, vs. 72.4% for the SPY. Our stock picks outperformed the market by more than 124 percentage points (see the details here). We were also able to identify in advance a select group of hedge fund holdings that significantly underperformed the market. We have been tracking and sharing the list of these stocks since February 2017 and they lost 13% through November 16th. That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.
Photo byAdam NowakowskionUnsplash
With this context in mind, here is our list of the 10 best cryptocurrencies Redditors are buying.
Elrond is a blockchain-based cryptocurrency that distinguishes itself from other digital currencies by providing high-level scalability, interoperability, and high throughput. It is placed tenth on our list of 10 best cryptocurrencies Redditors are buying. The currency aims to be a fast platform for distributed applications and enterprise use cases in the new internet economy. The firm that developed Elrond offers 30% smart contract royalties to coin developers and has partnered with many prominent businesses, including South Korea electronics giant Samsung.
American software giant Microsoft Corporation (NASDAQ: MSFT) has consistently backed the rise of new blockchain technology and has allowed the use of Bitcoin, another blockchain-based currency like Elrond, for payments to buy apps, games and other digital content from Microsoft Corporation (NASDAQ: MSFT) products like Windows, Window Phone, Xbox Games, Xbox Music or Xbox Video Store.
At the end of the first quarter of 2021, 251 hedge funds in the database of Insider Monkey held stakes worth $58.9 billion in Microsoft Corporation (NASDAQ: MSFT), down from 258 the preceding quarter worth $52.8 billion.
Just like Tesla, Inc. (NASDAQ: TSLA), PayPal Holdings, Inc. (NASDAQ: PYPL), and Square, Inc. (NYSE: SQ), Microsoft Corporation (NASDAQ: MSFT) is one of the best crypto stocks that Redditors are buying.
In its Q1 2021 investor letter, Polen Capital, an investment management firm, highlighted a few stocks and Microsoft Corporation (NASDAQ:MSFT) was one of them.Hereis what the fund said:
“We have written extensively about Microsoft in recent commentaries. It was our leading contributor last year and one of our largest weightings within the Portfolio. It continues to experience business momentum through several dominant, essential, and competitively advantaged businesses, like Office 365 and Azure. The markets it competes for are enormous, which gives the company the ability to compound at scale. In the past quarter alone, the company generated over $40 billion in revenue, representing a 17% growth rate. The inherent operating leverage in Microsoft’s business model continues and led to 34% earnings growth this past quarter. Despite the broad rotation we saw in the first quarter and Microsoft’s robust performance in 2020, we think its business fundamentals continue to exhibit strength, and the stock continues to reflect the fundamentals.”
USD Coin is a digital stablecoin whose value is tied to the value of the United States Dollar. It is ranked ninth on our list of 10 best cryptocurrencies Redditors are buying. It is a blockchain-based cryptocurrency that runs on the same network used by popular crypto coin Ethereum. USD Coin was developed by Circle, a peer-to-peer payments company based in Boston. More than 20 billion USD Coins are in circulation at present. USD Coin was first launched in 2018. In March, popular payments firm Visa announced that it would allow the use of USD Coin to settle transactions on its network.
Cryptocurrencies like USD Coin are mined using powerful computing machines like the ones developed by American technology firm International Business Machines Corporation (NYSE: IBM). The tech firm has also launched the IBM Blockchain, a cloud service that lets users develop blockchain-based currencies. International Business Machines Corporation (NYSE: IBM) also offers Blockchain for Enterprise solutions.
Out of the hedge funds being tracked by Insider Monkey, New York-based investment firmArrowstreet Capitalis a leading shareholder in International Business Machines Corporation (NYSE: IBM) with 3.6 million shares worth more than $482 million.
Just like Tesla, Inc. (NASDAQ: TSLA), PayPal Holdings, Inc. (NASDAQ: PYPL), and Square, Inc. (NYSE: SQ), International Business Machines Corporation (NYSE: IBM) is one of the best crypto stocks that Redditors are buying.
In its Q2 2020 investor letter, Distillate Capital, an investment management firm, highlighted a few stocks and International Business Machines Corporation (NYSE:IBM) was one of them.Hereis what the fund said:
“AT&T and IBM exited the portfolio as they no longer met the quality criteria for inclusion with AT&T exceeding the debt limit and IBM falling out due to deteriorating long-term fundamental stability.”
Stellar is one of the top 10 cryptocurrencies by market capitalization. It is placed eighth on our list of 10 best cryptocurrencies Redditors are buying. It is based on an open source, decentralized protocol that converts digital currencies to fiat at very low-cost transfers. This has made Stellar one of the premium choices for cross-border transactions. Stellar was launched in 2014 and has since partnered with companies in many countries across the world, like a mobile payments startup in the Philippines, the ICICI Bank in India, African mobile payments company Flutterwave, as well as French firm Tempo Money Transfer.
Cryptocurrencies like Stellar are also being used by American technology firm DocuSign, Inc. (NASDAQ: DOCU) since 2015. The company offers electronic contract management solutions to businesses across the United States. DocuSign, Inc. (NASDAQ: DOCU) also offers e-signature products like CLM, Gen, and Negotiate.
At the end of the first quarter of 2021, 60 hedge funds in the database of Insider Monkey held stakes worth $3.2 billion in DocuSign, Inc. (NASDAQ: DOCU), down from 67 in the previous quarter worth $4.2 billion.
Just like Tesla, Inc. (NASDAQ: TSLA), PayPal Holdings, Inc. (NASDAQ: PYPL), and Square, Inc. (NYSE: SQ), DocuSign, Inc. (NASDAQ: DOCU) is one of the best crypto stocks that Redditors are buying.
In its Q3 2020 investor letter, Wasatch Core Growth Fund, an investment management firm, highlighted a few stocks and DocuSign, Inc. (NASDAQ:DOCU) was one of them.
“We recently liquidated our shares of DocuSign, Inc. (DOCU), which offers e-signature software that enables businesses and individuals to digitally prepare and execute agreements. Utilization of the software spiked during the pandemic and the stock was an excellent performer, propelling the company’s market capitalization to over $40 billion. While we still like the company, the valuation set a higher bar for the future. With the proceeds of our DocuSign sale, we rotated into what we viewed as more reasonably priced names.”
Chainlink is a cryptocurrency that runs on the Oracle network. It is ranked seventh on our list of 10 best cryptocurrencies Redditors are buying. The network also provides real world data to blockchain-based networks. In 2020, Chainlink was among the top five digital currencies in the world in terms of market capitalization. In an initial coin offering in 2017, the currency raised more than $32 million. The Chainlink network has been used by many famous firms, including news company Associated Press, which used the Chainlink functionalities to provide media houses with the results of the 2020 US presidential election.
Mainstream payments firms like Mastercard Incorporated (NYSE: MA) have jumped on the crypto bandwagon in recent months, integrating crypto with their networks in anticipation of increased crypto-related financial activity across the world. Mastercard Incorporated (NYSE: MA) also offers a crypto card which can be used to make payments in digital currencies in Western Europe.
Out of the hedge funds being tracked by Insider Monkey, Virginia-based investment firmAkre Capital Managementis a leading shareholder in Mastercard Incorporated (NYSE: MA) with 5.8 million shares worth more than $2 billion.
Just like Tesla, Inc. (NASDAQ: TSLA), PayPal Holdings, Inc. (NASDAQ: PYPL), and Square, Inc. (NYSE: SQ), Mastercard Incorporated (NYSE: MA) is one of the best crypto stocks that Redditors are buying.
In its Q4 2020 investor letter, Bretton Fund, an asset management firm, highlighted a few stocks and Mastercard Incorporated (NYSE:MA) was one of them.Hereis what the fund said:
“While consumers resumed much of their spending by summer, what and how they used their Visas and Mastercards changed. For obvious reasons, people shifted to contactless payments—one of the Covid-era changes we think is permanent—and replaced travel purchases with online shopping and food delivery. Consumers spent more on their debit cards and less on their credit cards; Visa and Mastercard make more per transaction on the latter. They also make more on cross-border transactions that come mostly from international travel, which ground to a halt early in the pandemic. Visa’s and Mastercard’s earnings per share fell by 7% and 16%, respectively, compared to their usual mid-teens growth. We’re not too worried, and we think they’ll catch up nicely in the post-vaccine world. Visa’s stock returned 17.1% and Mastercard’s 20.2%.”
Litecoin is a peer-to-peer cryptocurrency that was launched as a Bitcoin spinoff back in 2011. It is placed sixth on our list of 10 best cryptocurrencies Redditors are buying. It uses an open source network and differs from Bitcoin as it has a decreased block generation time, increased maximum number of coins, and a different hashing algorithm that uses scrypt instead of SHA-256. Litecoin also has a slightly modified graphical user interface compared to Bitcoin. Litecoin has lower transaction fees and the network it uses can process payments faster than the one used by Bitcoin.
Litecoin was released by Charlie Lee, a former Alphabet Inc. (NASDAQ: GOOG) employee. Alphabet Inc. (NASDAQ: GOOG), one of the biggest technology companies in the world, has been exploring the use of blockchain in the different projects it is working on, and has also invested in a decentralized cloud storage company that lets users develop blockchain-based currencies.
At the end of the first quarter of 2021, 159 hedge funds in the database of Insider Monkey held stakes worth $29 billion in Alphabet Inc. (NASDAQ: GOOG), up from 157 in the previous quarter worth $20 billion.
Polen Global Growth Fund, in its Q1 2021 investor letter, mentioned Alphabet Inc. (NASDAQ:GOOG). Here is what Polen Global Growth Fund has to say about Alphabet Inc. in its letter:
“For our top contributors, each generated strong returns for different, but fundamentally based reasons, in our opinion. Alphabet saw renewed strength recently as advertisers generally resumed spending after a short pause during the pandemic.
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Disclosure: None.Forget Bitcoin and Ethereum: 10 Best Cryptocurrencies Redditors are Buyingis originally published on Insider Monkey. || Open Positions in CME-Based Bitcoin Futures Slump to 5 1/2-Month Low: The total amount of funds allocated in “standard”bitcoinfutures contracts on the Chicago Mercantile Exchange (CME) slid to an almost six-month low Wednesday, indicating a decline in institutional activity.
The dollar value of open interest – futures contracts traded but not liquidated with an offsetting position – dropped to $1.36 billion, the least since Dec. 16, data from Skew shows. The level has more than halved since mid-April, when the U.S-based Coinbase exchange debuted on Nasdaq.
The number of open contracts also fell, sliding more than 22% in recent weeks to 36,265, according to data provided by Glassnode. These regulated standard futures contracts trade in 5 BTC denominations, require a large capital outlay and are considered synonymous with institutional participation.
Related:DOJ Charges Latvian National for Role in ‘Trickbot’ Ransomware Scam
“The CME was the favorite liquidity avenue for institutions to hedge their GBTC [Grayscale bitcoin trust] exposure,” Crypto finance firm Amber Group told CoinDesk in a Telegram chat. “However, ever since the GBTC premium eroded, there’s been a lesser impetus for these sort of flows.”
The Grayscale Bitcoin Trust (GBTC), from the crypto-asset manager Grayscale, is the largest U.S. investment vehicle for buying bitcoin (BTC) through a stock exchange. Accredited investors can buy shares of the trust at the net asset value, but aren’t allowed to sell them on the secondary market for six months. New York-based Grayscale is owned by Digital Currency Group, the parent company of CoinDesk.
Until February, GBTC shares traded at premiums as high as 40% to the price of bitcoin, attracting institutional investors who intended to redeem them at a premium six months later. They hedged the exposure with a short futures position on the CME. That pushed up the open interest on the CME,making itthe biggest futures platform at the end of December.
“Institutions were hedging the outright delta [long GBTC exposure] and capturing the subscription premium,” Amber Group said.
Related:Market Wrap: Musk-Induced Sell-Off Spurs Crypto Price Drop Before a Slight Recovery
The trade lost its shine after the premium turned into a discount in February. The situation has persisted ever since, causing a decline in open interest on the CME.
In addition, the price crash in May crowded out excess bullish leverage from the market, leading to a drop in open interest on the CME and other major exchanges.
The amount deployed in futures contracts across the globe is about $11.9 billion, down from $19 billion a month ago. Bitcoin tanked 35% in May on concerns regarding the negative environmental impact of cryptocurrency mining and a regulatory crackdown in China.
Futures contracts on non-regulated exchanges like Binance and Deribit trade in denominations of 1 BTC, one-fifth the size of the CME’s, and are taken to represent retail activity. The CME launched micro bitcoin futures last month. A micro bitcoin is equivalent to 1/10th of one bitcoin.
The CME and other exchanges could continue to see low activity for some time, as the futures premium has declined with the recent price sell-off, making carry trades unattractive.
Cash and carry arbitrage, a market-neutral strategy, involves buying an asset in the spot market against a short position in the futures market when the futures draw a significant premium relative to the spot price. That alllows traders to make a fixed return as the futures premium decays over time and converges with the spot price on the expiry date.
Carry trades now offer significantly less yield than they did at the height of the bull market. Skew data show the CME currently offers an annualized rolling three-month basis (futures premium) of 3%, compared with 12% in mid-April. Other exchanges have seen a similar drop, with Binance futures drawing a premium of 8% against 42% in April.
Also read:Bitcoin’s Bull Market ‘May Have Come to an End,’ Says MRB Partners
“The recent crash has depressed yields across the ecosystem,” Rahul Rai managing partner at Gamma Point Capital, said. “So carry trades have become less attractive, and there is less institutional demand to short futures against the long position in the spot market.”
• BlockFi’s Botched Promo Payouts Continued Into April, Adding More Confusion for Users
• Bitcoin Drops After Musk Tweets of Breakup || Cryptocurrency ethereum hits new record high again; dogecoin slumps: By Gertrude Chavez-Dreyfuss, Tom Wilson and Tom Westbrook NEW YORK/LONDON/SINGAPORE (Reuters) -Cryptocurrency ethereum climbed to a new peak for a third straight day on Monday on continued optimism about further growth in decentralized finance or "DeFi", although some analysts said it was overvalued at current levels. Ethereum has soared this year, fuelled by the boom in DeFi, which are platforms that facilitate crypto-denominated lending outside traditional banking. Many DeFi applications are embedded in the ethereum blockchain. Ethereum, the second-largest coin by market capitalization, hit an all-time high of $4,200 and was last up around 5.2% at $4,133.40. "The myriad possibilities of decentralized ledger technologies should be likened to a technological force of nature that will continue to disrupt finance and other businesses," said Paolo Ardoino, chief technology officer of cryptocurrency exchange Bitfinex. An upcoming technical change to its software seen as reducing its supply has also provided a boost, while new institutional investors in the crypto sector have warmed to it amid a tepid quarter so far for bitcoin. "(Crypto has) got a lot more institutional involvement than people who haven't followed the market believe," said Chris Weston, head of research at brokerage Pepperstone. But some analysts said ethereum's increasing valuation was not underpinned by data of how widely it is used. "The continued divergence of its price relative to network activity raise questions about its valuation," J.P. Morgan analysts wrote in a report to clients dated May 7. Factors such as the number of active digital addresses in its network would be more consistent with a price of around $1,000, the U.S. bank said. BITCOIN STAGNANT Bitcoin, the largest cryptocurrency, rose to a three-week high above $59,600 on Monday. But it was last down 2.9% at $56,632. Blockchain data provider Glassnode, in a research report on Monday, said there are indications that a portion of bitcoin capital is rotating toward ethereum and dogecoin. Story continues Dogecoin, a recent outperformer, however, dropped sharply and was last down 10% at 48.2 cents, according to CoinGecko.com. The currency has been hurt by Tesla Inc chief Elon Musk calling it a "hustle." Smaller cryptocurrencies, like dogecoin, known as "altcoins," have been in demand in the past few weeks, pushing bitcoin's share of the overall $2.5 trillion digital currency market to its lowest in around two years. Dogecoin, which began as a social media joke in 2013, is up more than 700% in the last month. It hit a record high on Saturday of 73.15 cents, according to crypto data tracker CoinGecko.com. Musk's commercial rocket company SpaceX said it would accept the meme-inspired cryptocurrency dogecoin as payment. (Reporting by Tom Wilson in London, Tom Westbrook in Singapore, and Gertrude Chavez-Dreyfuss in New York; Editing by Jane Merriman and Lisa Shumaker) || Bitcoin ETP Launching on London Exchange: Crypto product provider ETC Group is launching its bitcoin-backed exchange-traded product (ETP) on a UK exchange using Swiss trading rules.
The UK-based ETC Group has traded $5.4 billion since it launched its initial BTC ETP on the German Stock Exchange. However, its attempt to follow that up on the London Stock Exchange stalled because the LSE’s clearinghouse doesn’t accept crypto products. Instead, ETC isofferingits bitcoin ETP through another London-based regulated UK market, Aquis Exchange.
The UK listing of the BTC ETP is only possible because the security is already listed in Switzerland. This is where Aquis will also send it to be cleared. After the UK left the EU’s single market, the path for Swiss securities to resume trading in London opened up. This launch highlights the tensions in the UK surrounding the regulation of cryptocurrencies.
CEO of the ETC Group, Bradley Duke, feels that the UK would logically be at the center of this business. To him, it’s always been a hub for banking and innovation. However, in this instance, he says his business feels unwanted by the regulator. Another 50 companies also withdrew applications to the Financial Conduct Authority (FCA) to operate registered cryptocurrency businesses in Britain.
At the same time, there are others in the industry pushing for regulators to set some standards rather than serve outright rejection. For instance, UK financial lobbyist TheCityUK isadvocatingfor greater protection regarding crypto assets. It believes that providing a nuanced response would help attract more crypto-based companies to London. CEO Miles Celic acknowledged that regulators have an important role to play in enabling good ideas to “mature and flourish.”
Ironically, as dismal as the situation looks in Britain, in some places in Europe it seems even more hopeless. “From Paris, the London legal framework position on cryptocurrency is much more mature, robust, and comprehensive than it is in France,” said Elie Le Rest, co-founder and partner at Paris-based digital assets fund manager ExoAlpha. He says that businesses in London are at least willing to explore relationships with crypto entrepreneurs. Apparently, in Paris, “bank accounts get closed and insurance is almost impossible to get for crypto businesses.”
Meanwhile, Switzerland is setting the standards that many crypto enthusiasts are envisioning. The alpine country has developed rules around crypto in order to become a world center for digital currencies. Crypto exchanges are welcome if they comply with rules combating financial crime and secure the proper licenses.
Cryptocurrency hedge fund Tyr Capital has been slowing ceding partners there away from London over the past 18 months. Tyr partner Edouard Hindi praised the country’s foundational framework and the cooperation seen from regulators. He said the Swiss Chamber of Commerce even helped facilitate his visa paperwork.
However rosy the Swiss perspective may seem, former CEO of London Stock Exchange Group, Xavier Rolet, says the model is unrealistic. Rolet said the framework the country has established only works within its borders, and would not be accepted cross-border. Therefore in his mind, it is not scalable. Instead, he argues that the ultimate solution would be for central banks to develop their own digital currencies. “If central banks come up with a global digital currency then these crypto products would disappear,” he said. || DeFi Deep Dive – Synthetix, Real World Assets to Crypto: The decentralized finance (DeFi) sector has evolved so fast over the past year that new ways of trading and earning from digital assets have emerged at unprecedented rates.
What was once just limited to collateral-backed lending and borrowing platforms is now a virtualsmorgasbord of different DeFi protocolsoffering derivatives, flash loans, dynamic stablecoins, and synthetic assets.
The Synthetix protocol launched in order to provideaccess to these synthetic assetsin tokenized form by using a complex system of algorithms and derivatives. Traders holding synths on the protocol do not have the real asset in their possession, however, they can still gain exposure to its price movements.
As far as DeFi protocols go, Synthetix is one of the hardest for beginners to comprehend but we’ll attempt to unravel some of those complexities in this DeFi Deep Dive.
The Synthetix platform started out as a stablecoin project called Havven with its native cryptocurrency, the Havven Token – HAV. The platform had an ICO in February 2018 for the ERC-20 token which launched at a price of $0.67 at the time.
Its initial aim,according to the white paper, was to become a decentralized payments network that uses a dual token system to issue stablecoins called nUSD, with the HAV tokens as collateral.
Early investors and HAV holders received a percentage of the fees generated from all nUSD transactions as a reward. This also helped to maintain its dollar peg.
The team quickly found out that stablecoins could do a lot more. As a result, they announced the major rebranding to Synthetix in late November 2018, with HAV tokens becoming SNX.
Australian entrepreneur Kain Warwick founded Synthetix. He had previously established the OTC payments platform Blueshyft.
Synthetix in its current form enables the creation of on-chain synthetic assets which use oracles to track the price movement of the same assets in the real world.
The Ethereum (ETH)-based DeFi platform allows investors to get price exposure for pretty much any asset from stocks to commodities, fiat currencies, and of course crypto assets. The protocol also has its own stablecoin, sUSD. Itoffers staking, yield farming, and a variety of derivatives trading options.
Synthetic assets are minted on the protocol using the Synthetix Network Token (SNX) as collateral. This locks into a smart contract. In early 2020, the protocol enabled the use of ETH as collateral in addition to SNX. Stakers can also earn a share of the 0.3% minting fees on the exchange by depositing SNX tokens as collateral to a fee pool.
The collateral ratio is 750% so if users want to mint 100 British pounds into a sGBP Synth they would need to stake 750 British pounds worth of SNX. If the price of SNX increases, an equivalent portion of a staker’s SNX is automatically unlocked as collateral. The official documentation explains why the ratio is so high:
“This mechanism allows Synthetix to support instantaneous, near-frictionless conversion between different flavors of Synths without the liquidity and slippage issues experienced by other decentralized exchanges. The resulting network of tokens supports an extensive set of use cases including trading, loans, payments, remittance, eCommerce, and many more.”
SNX stakers incur debts when they mint Synths. In order to exit the system and unlock their SNX, they must pay back this debt by burning Synths.
The tokens inflationary economics will see the supply increase from March 2019 to August 2023. The total SNX supply will increase from 100 million to around 250 million with a weekly decay rate of 1.25% starting from December 2019. At the time of writing, there were 151 million SNX in circulation.
Each Synth is an ERC-20 token that tracks the price of an external asset; for example, sUSD tokens track the price of the US dollar, and gold-based Synths will track the real-world price of the commodityvia a Chainlink (LINK) oracle.
The platform also has iSynths which inversely track the price of assets via price feeds and oracles. These allow traders to effectively take short positions. They are also available for cryptocurrency and index-based Synths. Inverse Synths have three important points: an entry point, an upper limit, and a lower limit, the entry point being the price at which it enters into the system.
If an iBTC Synth entered at a price of $50,000 that would be its entry point so if the price of the sBTC Synth (which tracks bitcoin’s (BTC) actual price) drops to $49,000 then iBTC would be at $51,000 and vice versa. The upper and lower limits are where the Synth is frozen for leverage purposes.
Index Synths track various indexes such as the Nikkei or Nasdaq or even crypto and DeFi related indexes that exist. Likewise, forex-related Synths track the price of forex fiat currencies via price feeds.
Synthetix has a bit of a steep learning curve. Its abstract nature means that it is not for everyone. Those wanting access to global stock market movements but can’t due to geographical restrictions would benefit from using the platform.
Additionally, traders looking to short crypto non-accredited assets for futures platforms can also benefit. Beginners that are looking for simple DeFi yield farming should probably seek user-friendlier platforms.
Synthetix has been one of the fastest-growing DeFi protocols in a sector that has expanded itself by 250% since the beginning of 2021.
Total Value Locked (TVL) on Synthetix is around $2.38 billion at the time of writing according to the exchange itself. Data providers such as DeFiPulse and DappRadar are reporting between $2.23 and $2.39. So the figures are pretty close. The former has ranked Synthetix at eighth place just behind Instadapp.
Since the beginning of 2021, SynthetixTVL has increasedaround 90% so it is a little behind the growth rate of the industry as a whole in terms of TVL. This may be due to the complexity associated with using the platform compare to simple token swapping interfaces such as Uniswap.
Token performance, however, has definitely not been lagging. As reported by BeInCrypto, SNX was one of thebetter performing DeFi tokens in 2020, notching up a gain of over 500% for the year.
That figure has been dwarfed by what it has done so far in 2021, surging from $7.20 on January 1 to an all-time high of just over $27 by mid-February. At the time of writing, SNX is trading at $20.60 representing a gain of 170% so far this year.
Being based on Ethereum, there has been some urgency from Synthetix to integrate Layer 2 scaling solutions.
The protocol began testing Layer 2scaling with Optimistic Ethereumin September 2020. This is an independent L2 technology provider offering airdropped SNX tokens as incentives for those participating on the testnet.
In mid-January 2021, it announced the launch of the L2 platform called Castor though more testing was required.
In early April, the protocol announced that Optimistic Ethereum has been integrated into staking enabling liquidity providers to earn yields on Layer 2 and avoid those painful gas fees.
The launch is being phased in as functionality is added gradually. The final phase slated for later this year will depreciate Layer 1 staking and disable any Synths on the network.
The 2021 roadmaplaid out in a blog post penned by founder Kain Warwick in January 2021. In it, he likened it to the title of a sci-fi movie depicting a “future where everyone in the world is connected to one another by handheld devices that allow them to hold, trade and transfer every imaginable asset.”
The migration to a full Layer 2 exchange and the depreciation of assets on Layer 1 is the team’s priority for this year. The move becomes more of a necessity every time Ethereum transaction fees break their previous high.
Synthetix v3 was mentioned, representing a completere-architecture of the smart contractsfor the first time since late 2018, however, no timeframe was given.
It will provide a new staking mechanism, tokenized debt, price thresholds, and order matching. There will be a number of governance improvements, asset expansion into equities, leveraged futures, binary options, and acquisitions on the cards.
Synthetix will get a lot deeper than it is already in terms of complexity, which is music to the ears of advanced traders looking for greater flexibility and options in the burgeoning fledgling financial sector that is DeFi. || Old Dominion's (ODFL) Q1 Earnings Top Estimates, Improve Y/Y: Old Dominion Freight Line ’s ODFL first-quarter 2021 earnings per share of $1.70 outpaced the Zacks Consensus Estimate by 12 cents. Moreover, the bottom line surged 53.2% year over year. This upside was driven by a vast improvement in the operating ratio (operating expenses as a percentage of revenues) on the back of higher revenues. Revenues of $1126.5 million also surpassed the Zacks Consensus Estimate of $1,106.6 million and increased 14.1% year over year as well, led by an 8.3% increase in LTL (Less-Than-Truckload) tons and a 5.6% uptick in LTL revenue per hundredweight. Old Dominion Freight Line, Inc. Price, Consensus and EPS Surprise Old Dominion Freight Line, Inc. Price, Consensus and EPS Surprise Old Dominion Freight Line, Inc. price-consensus-eps-surprise-chart | Old Dominion Freight Line, Inc. Quote Other Details In the quarter under review, LTL weight per shipment and LTL revenue per shipment rose 1.3% and 7%, respectively. Moreover, LTL shipments were up 6.9%. LTL shipments per day increased 8.6% year over year. The company’s major revenue-generating segment LTL services logged a total of $1,109.6. million, increasing 13.9% year over year. Revenues from other services jumped 30.6% to $16.9 million. Total operating expenses rose 6.5% to $856.9 million, mainly due to the 4% rise in costs pertaining to salaries, wages & benefits and a 15.2% escalation in operating supplies & expenses. Moreover, the operating ratio improved 530 basis points to 76.1%. Notably, lower the value of this metric, the better. Old Dominion exited the quarter with cash and cash equivalents worth $351.9 million compared with $401.43 million at the end of 2020. Capital expenditures incurred in the reported quarter were $51 million. Old Dominion expects a capex of $605 million for 2021. Of the total, $275 million is anticipated to be invested in real estate and service-center expansion. The company expects to spend $290 million and $40 million on tractors/trailers, and technology and other assets, respectively. Story continues During the first quarter, Old Dominion, currently carrying a Zacks Rank #3 (Hold), rewarded its shareholders with $23.2 million through cash dividends. Moreover, during the March quarter, the trucking company utilized $309 million of its share buyback program, which is inclusive of a $275-million accelerated share repurchase agreement that will expire by August 2021. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Sectorial Snapshots Within the broader Transportation sector, Delta Air Lines DAL , J.B. Hunt Transport Services JBHT and Kansas City Southern KSU recently released first-quarter 2021 results. Delta incurred a loss (excluding $1.70 from non-recurring items) of $3.55 per share, wider than the Zacks Consensus Estimate of a loss of $3.08. However, total revenues of $4,150 million topped the Zacks Consensus Estimate of $3,821.3 million. J.B. Hunt reported earnings of $1.37 per share, beating the Zacks Consensus Estimate of $1.18. Total operating revenues of $2,618.1 million also surpassed the Zacks Consensus Estimate of $2,486.9 million. Kansas City Southern reported earnings (excluding 23 cents from non-recurring items) of $1.91 per share, missing the Zacks Consensus Estimate of $2. Moreover, the top line of $706 million lagged the Zacks Consensus Estimate of $714.3 million. 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 Kansas City Southern (KSU) : Free Stock Analysis Report Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report J.B. Hunt Transport Services, Inc. (JBHT) : Free Stock Analysis Report Old Dominion Freight Line, Inc. (ODFL) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || ARK Invest, Square: Bitcoin Mining Could Incentivize Renewable Energy Development: According to a study by Cathie Wood’s ARK Investment Management LLC, and Jack Dorsey’s Square Inc., bitcoin (BTC) mining could incentivize renewable energy development.
The study purports that cryptocurrency mining coulddrive investment in renewable energy, while making more available to the grid. “A world with bitcoin is a world that, at equilibrium, generates more electricity from renewable carbon-free sources,” the studysays.
Although solar and wind power produce energy cheaper than fossil fuels, they produce too much energy when demand is low and not enough when it’s high. During times when there is an energy surplus and low demand, a renewable energy developer couldmake money mining cryptocurrencies. Potentially, this could incentivize more development of renewable energy, increasing efficiency, lowering prices, and encouraging the transition to sustainable sources.
ARK Invest CEO Wood says the research ideas “debunk the myth” that bitcoin mining is damaging the environment. Jack Dorsey’s Square also collaborated on the research. Dorseysaidthat bitcoin “incentivizes renewable energy.” However, they both have deeply vested interests in bitcoin’s success, making the validity of the study somewhat questionable.
ARK has invested actively in cryptocurrency-related stocks,includinglarge holdings in Coinbase Global Inc. and bitcoin. ARK’s portfolio also includes Elon Musk’s Tesla, which made asplashbuying $1.5 billion of bitcoin in February.
Meanwhile Dorsey’s Square bought $50 million in bitcoin in October last year, andanother$170 million in February. Cryptocurrencies have also become a growing part of its business, through the use of its Cash App for bitcoin transactions.
Besides the skepticism behind the research motives, others say that renewable energy is already seeing more investment. A larger share of energy is increasingly being supplied by electricity, while the cost of renewable power is plummeting. According to the International Energy Agency, wind and solar willaccountfor around 12% of electricity demand by 2030. This is over double the amount in 2019.
Additionally, someargue that there are more appropriate usesfor renewable power than making bitcoin. For instance, decarbonizing existing energy demand that relies on burning fossil fuels. Electricity demand is also increasing, as electric vehicles see wider adoption.
As Ripple executive Chris Larsenput it, mining bitcoin “is in direct competition with more urgent energy needs that must make the switch to renewables; industries like concrete and steel, air travel, and agriculture.” He calls the argument put forward by the study “spurious.”
In an opinionpiece, he asserts that cryptocurrencies must make the switch from the energy intensive proof-of-work validation method. This is the consensus model behind bitcoin mining. If cryptocurrencies do not migrate to more efficient validation methods like proof-of-stake or federated consensus, he says the further adoption of cryptocurrencies could be jeopardized. || Europeans want digital euro to be private, safe and cheap - ECB survey: FRANKFURT (Reuters) - Euro zone citizens expect the European Central Bank's proposed digital euro to be private, safe and cheap, a survey showed on Wednesday, as the ECB warned that any launch was still several years away. The ECB is studying an electronic form of cash to complement banknotes and coins in a bid to stem competition from cryptocurrencies such as Bitcoin, Tether and Facebook’s proposed Diem. An ECB consultation showed that privacy, a key feature of cash that some fear will get lost when switching to an electronic means of payment, was the number one priority for both private individuals and professionals. "For the participants in the public consultation, the most important features of a digital euro are privacy, security and broad usability," ECB board member Fabio Panetta told members of the European Parliament. The ECB will decide in the coming months whether to launch a two-year analysis of the digital euro project. Panetta said this would then be followed by "several years" of implementation before a final decision is made on whether or not to launch a digital currency. This could take five years in total, Panetta added. The consultation was open to anyone and has no statistical value. The ECB did not ask if participants wanted a digital euro at all. SAFER THAN A BANK A digital euro would give holders a direct claim on the ECB, making it safer than an account held at a commercial bank or a digital wallet. This has raised some concerns, particularly by Germany's Bundesbank, that people at times of crisis would convert their savings into digital euros, exacerbating bank runs or even upending the financial sector’s business model altogether. The ECB consultation showed that half of respondents were in favour of introducing a cap on how many digital euros every citizen can own or a tiered remuneration whereby balances above a certain threshold are penalised. Two thirds of respondents said the electronic cash should be offered by private-sector intermediaries and integrated in the existing payment system and a quarter also wanted it offered as a “smart card” or phone app so that it can be spent offline. Other central banks around the world are also working on similar projects, with China already running pilot programmes. (Reporting by Francesco Canepa; Editing by Balazs Koranyi, Toby Chopra, Kirsten Donovan) || Crown Castle (CCI) Q1 FFO Beats, View Up on Leasing Activity: Crown Castle International Corp. ’s CCI first-quarter 2021 adjusted funds from operations (AFFO) per share of $1.71 surpassed the Zacks Consensus Estimate of $1.61. Moreover, the figure was 20% higher than the prior-year quarter’s $1.42. Net revenues of $1.49 billion improved 4.5% year over year in the reported quarter. However, the figure missed the Zacks Consensus Estimate of 1.50 billion. Growth in site-rental revenues aided the top-line performance. The company also enhanced its outlook for 2021, backed by additional straight-lined revenues to be generated from the long-term tower leasing agreement with wireless carrier Verizon. The lease became effective on Apr 1 and resulted in an increase in the average contracted lease term for Verizon’s existing tower site leases to nearly 10 years. Per management, “In the first quarter, we delivered solid results that exceeded our expectations and reflect a robust 5G leasing environment, positioning us to generate an expected double-digit growth in both AFFO per share and dividends per share for full year 2021." Quarter in Detail Site-rental revenues were $1.4 billion, up 5% year over year. The organic contribution of $82 million to site rental revenues reflects 6.3% year-over-year growth. Further, services and other revenues rose 4.5% year over year to $116 million. Quarterly operating expenses decreased 1.9% year over year to $1.03 billion. Nonetheless, operating income rose 23.1% year over year to $448 million. Quarterly adjusted EBITDA of $897 million marked a 10% year-over-year rise. The company reported a capital expenditure of $302 million for the first quarter. This included $285 million of discretionary capital expenditure and $17 million of sustaining capital expenditure. Balance Sheet Crown Castle exited first-quarter 2021 with cash and cash equivalents of $254 million, up from $232 million reported at the end of 2020. Furthermore, for the three months ended Dec 31, 2021, the company generated $584 million of net cash from operating activities compared with $653 million reported in the year-ago period. Also, debt and other long-term obligations aggregated $19.7 billion, up from $19.1 billion witnessed at the end of 2020. Story continues Guidance The company has increased its outlook for 2021. It expects site-rental revenues of 5,672-$5,717 million. Adjusted EBITDA is projected to be $3,734-$3,779 million. AFFO per share is anticipated to be $6.74-$6.85. The Zacks Consensus Estimate for the same is pegged at $6.72. Crown Castle currently carries a Zacks Rank of 3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Crown Castle International Corporation Price, Consensus and EPS Surprise Crown Castle International Corporation Price, Consensus and EPS Surprise Crown Castle International Corporation price-consensus-eps-surprise-chart | Crown Castle International Corporation Quote We now look forward to the earnings releases of other REITs like Digital Realty Trust, Inc. DLR, Cousins Properties CUZ, and CubeSmart CUBE. All three companies are slated to report first-quarter earnings on Apr 29. Note: Anything related to earnings presented in this write-up represents 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 Crown Castle International Corporation (CCI) : Free Stock Analysis Report Cousins Properties Incorporated (CUZ) : Free Stock Analysis Report Digital Realty Trust, Inc. (DLR) : Free Stock Analysis Report CubeSmart (CUBE) : Free Stock Analysis Report To read this article on Zacks.com click here.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 37334.40, 35552.52, 39097.86, 40218.48, 40406.27, 38347.06, 38053.50, 35787.25, 35615.87, 35698.30
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2019-05-16]
BTC Price: 7884.91, BTC RSI: 77.95
Gold Price: 1285.00, Gold RSI: 48.98
Oil Price: 62.87, Oil RSI: 53.37
[Random Sample of News (last 60 days)]
Can Lightning Loop help bring more customers to the Lightning Network?: Lightning Labs has announced the initial release of its new open source Lightning Network software called Lightning Loop . Per the announcement, the software provides a non-custodial way to receive funds on the Bitcoin (BTC) scalability solution the Lightning Network through an on-chain settlement with the “Loop Out” function. The Loop Out function attempts to solve a common issue which can affect Lightning Network users. For example, after having received a certain amount via the Lightning Network, users can sometimes not receive more until he or she moves the funds on-chain, which can now be done easily with the Loop Out feature. Loop! There it is!!! ⚡️🔁 https://t.co/AzENRBxBxp — Olaoluwa Osuntokun (@roasbeef) March 21, 2019 Non-custodial Since the solution is non-custodial, the funds can be passed on to any chosen address such as an exchange, a hot wallet, a cold wallet, or a crypto-to-fiat service. The announcement specifies that for this release, Loop Out transactions are limited to a maximum of 0.01 BTC. New low-cost features like this could convince more (potentially fiat-pegged) commerce to accept Lightning as a form of payment. They will know that they can quickly convert funds into “fiat currency via an exchange”, whilst at the same time be able to pay any suppliers. This would also please any Bitcoin or crypto enthusiasts who want to buy low-value items (under $10) with a zero-fee transfer of Bitcoin via a contactless payment from their smartphone. Submarine Swaps? aye aye captain 👨✈️ Reverse submarine swaps incoming! @lightning #lightningnetwork https://t.co/NmkCeBnVRA — Nawaz – CoinRivet (@coinrivetnawaz) March 21, 2019 Submarine Swaps are atomic on-chain to off-chain swaps (and vice versa) of cryptocurrencies. Conceptualised by Lightning Labs CTO Olaoluwa Osuntokun and Lightning Labs Infrastructure Lead Alex Bosworth, they are designed to facilitate the transfer of on-chain BTC to an off-chain Lightning Network channel. Story continues The new Loop Out feature therefore appears to be the reverse of Submarine Swaps. Coin Rivet recently reported that Bosworth was making $25 a month from routing $10,000 worth of Lightning payments through his Lightning node. Can you earn $300 a year to run a Lightning Network node? By Nawaz Sulemanji – March 21, 2019 ‘Loop In’ on the way Whilst this alpha release looks into the Loop Out feature, the announcement promises that a future “Loop In” function enabling users to move on-chain BTC into the Lightning Network will be added in the next version. This function will reportedly enable users to refill their Lightning Network channels with their own wallets or from exchanges. The Lightning Labs team commented: “The vision for Lightning Loop is to allow users to securely move funds in and out of the Lightning Network using non-custodial Bitcoin contracts. “With Loop, users, businesses, and routing node operators are able to keep Lightning channels open indefinitely, making the network more efficient, more stable, and cheaper to use.” Buy Digital Currency By James Stanley – March 21, 2019 The post Can Lightning Loop help bring more customers to the Lightning Network? appeared first on Coin Rivet . || Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 10/04/19: Bitcoin Cash ABC Sees More Red Bitcoin Cash ABC fell by 4.09% on Tuesday. Following on from a 3.73% decline on Monday, Bitcoin Cash ABC ended the day at $297.01. A bearish morning saw Bitcoin Cash ABC slide from an intraday high $309.67 to an intraday low $290. Steering clear of the major resistance levels, Bitcoin Cash ABC fell through the first major support level at $293.69. More significantly, Bitcoin Cash ABC also fell through the 23.6% FIB of $291. Support in the late morning saw Bitcoin Cash ABC recover to $300 levels before easing back to $297 levels late on. At the time of writing, Bitcoin Cash ABC was up by 1.39% to $301.12. A bullish start to the day saw Bitcoin Cash ABC rise from a morning low $297.06 to a high $304 before easing back. The days major support and resistance levels were left untested early on. For the day ahead, a hold onto $300 levels would support another run at the first major resistance level at $307.79. Barring a crypto rally, however, we would expect Bitcoin Cash ABC to come up short of the second major resistance level at $318.56. In the event of a crypto rally, we expect Bitcoin Cash ABC to break back through to $320 levels before any pullback. Failure to hold onto $300 levels could see Bitcoin Cash ABC resume its recent slide. A fall through to $295 levels would bring the first major support level at $288.12 into play. Barring a crypto meltdown, Bitcoin Cash ABC would likely steer clear of sub-$280 support levels. Litecoin Avoids sub-$80 Litecoin declined by 2.91% on Tuesday. Following on from a 2.62% fall from Monday, Litecoin ended the day at $86.89. Tracking the broader market, Litecoin fell from a morning high $89.49 to a mid-morning intraday low $83.81. The pullback saw Litecoin fall through the first major support level at $85.93 before recovering. A late morning recovery saw Litecoin strike an intraday high $89.7 before easing back through the 2 nd half of the day. The days major resistance levels were left untested through the day. Story continues In spite of the reversal, however, Litecoin managed to hold above the 38.2% FIB of $83 on the day. At the time of writing, Litecoin was up by 1.98% to 88.61. Moves through the early hours saw Litecoin rise from a morning low $86.51 to a high $88.95. Litecoin left the major support and resistance levels untested early on. For the day ahead, a hold above $87 levels through the morning would support further gains later in the day. A move through to $89 levels would bring the first major resistance level at $89.79 and $90 levels into play. Barring a broad-based crypto rally, however, we would expect Litecoin to fall short of the second major resistance level at $92.69. Failure to hold above $87 levels could see Litecoin take another hit on the day. A fall through $86.80 would bring $85 levels into play before any recovery. Barring a crypto sell-off, however, we would expect Litecoin to hold above the first major support level at $83.90 and 38.2% FIB of $83. Ripple Slides Again Ripples XRP slid by 2.49% on Tuesday. Following on from a 1.71% fall from Monday, Ripples XRP ended the day at $0.35212. A particularly bearish start to the day did the damage. Ripples XRP fell from an intraday high $0.36111 to a mid-morning intraday low $0.35033. Falling short of the major resistance levels, Ripples XRP also managed to hold above the major support levels. A range-bound second half of the day saw Ripples XRP move within the $0.35 handle. At the time of writing, Ripples XRP was up by 1.08% to $0.35594. A positive start to the day saw Ripples XRP rise from a morning low $0.35072 to a high $0.35689. The major support and resistance levels were left untested early on. For the day ahead, a hold above $0.3540 levels would support another run at the first major resistance level at $0.3587. Support from the broader market would be needed for Ripples XRP to break back through to $0.36 levels. Barring a crypto rally, we would expect Ripples XRP to come up short of the second major resistance level at $0.3653. Failure to hold above $0.3540 could see Ripples XRP slide through to $0.34 levels before any recovery. Barring a crypto meltdown, however, the first major support level at $0.3479 would likely limit the losses on the day. Buy & Sell Cryptocurrency Instantly Please let us know what you think in the comments below This article was originally posted on FX Empire More From FXEMPIRE: Is this the Last Leg Higher for the Dow Index? AUD/USD and NZD/USD Fundamental Daily Forecast Positive RBA Official Comments Fuel Massive Aussie Recovery Gold Price Prediction Gold Rallies as Dollar Slips and Momentum Turns Positive GBP/USD Daily Price Forecast Fingers Crossed Ahead Of EU Summit On Brexit NEO Technical Analysis Resistance Levels in Play 10/04/19 USD/JPY Fundamental Daily Forecast Traders Focused on Yields, Risk Appetite, Fed Minutes || Number of confirmed Bitcoin transactions per day hits highest level since last bull run: The number of transactions per day on the Bitcoin blockchain has been on the rise recently, and has once again eclipsed 400,000. Confirmed transactions have been on the up since the project’s inception over a decade ago and topped out at just under 500,000 transactions per day during the 2017 bull run when price hit $20,000. The fact that intrinsic network activity is again so high may signify a change in market sentiment, as confidence and volume return to the layer-one decentralised protocol. The most important chart in crypto https://t.co/XME5jivO5x #bitcoin #blockchain #finance — Erik Voorhees (@ErikVoorhees) April 23, 2019 Since the 2017 peak, we saw demand for on-chain transactions collapse in the face of fees rising above $25 for ‘next-block’ confirmations. Having found an activity baseline of above 150,000 transactions per day in early 2018, volume has again been climbing to historic levels due to increased demand coming from layer-two scaling solutions and sidechains like the Lightning Network and Blockstream’s Liquid Network. The average fee for a transaction (the cost per KB of data) is also comparatively a lot lower than it once was due to space-saving optimisations such as SegWit and transaction batching, which is now even easier to deploy thanks to the support of many wallet developers upgrading to follow best practices on the network. Outputs per day now above all-time high A metric that has just surpassed its all-time high is the number of Bitcoin outputs per day, with this indicator now peaking at over 100,000. Many believe that this relevant statistic gives a better indication of overall economic activity on the Bitcoin blockchain than transactions per day since one transaction can include multiple outputs. Story continues Other highs include the number of outputs per block (now above 7,000) and even the number of transactions per block, which has seen a significant increase to over 2,500 following data-intensive transactions moving to other smart-contracting layers on the BTC blockchain or sidechains. To check out this and more transaction data for Bitcoin, be sure to keep an eye on the tracker at outputs.today . The post Number of confirmed Bitcoin transactions per day hits highest level since last bull run appeared first on Coin Rivet . || Why Trump’s Controversial Fed Pick is Massively Bullish for Bitcoin: ByCCN.com: Donald Trump might frequently complain about the Federal Reserve and Jerome Powell, but until now no one cared. His latestmove to recommend Stephen Moorefor a seat on the Fed’s board is potentially explosive, with ripple effects that could hit the global monetary system hard. Puppet central banks and inflation go hand in hand, so over the long-term, this could be extremely bullish for Bitcoin.
The Federal Reserve has always been sacred. Presidents will appoint yes-men in every walk of life to ensure they get their agenda passed, but the Fed was still where you picked the best person for the job. By preparing to nominate the unqualified-but-loyal Moore,Trumpis performing an almost sacrilegious act in the eyes of the establishment.
Why are the stakes so high? The US dollar is the world’s currency as62% of all central bank holdings are in USD. The conventional economic system cannot survive a lack of credibility in the dollar. This is where an alternative, deflationary asset likeBitcoincan enter the fray.
Central banks that lose their independence nearly always suffer from spiraling inflation, mainly because poor policy decisions and a lack of confidence from investors abroad cause capital flight.Venezuela and Zimbabweare two notable examples. Even in Turkey, where the CBT does retain some independence, strong words from the ruling party were enough to spook investors away for fear there was a transitioning dictatorship.
Bitcoin hasproven to be of great benefitto those people in countries where government mismanagement has seen their assets de-valued to almost nothing. While the US dollar continues to be the world’s favorite medium for exchange, there is currently no fiat currency that could replace it.
Some people say crypto is ahedgeagainst the end of the world. This isn’t true. It’s a hedge against the end of the economic system that we currently employ.
Read the full story on CCN.com. || Why U.S. Stocks Continue Leading: This article was originally published on ETFTrends.com. Over the past three years, the iShares Core S&P 500 ETF ( IVV ) , which tracks the benchmark S&P 500 Index, is higher by 48.6% while the iShares MSCI ACWI ex U.S. ETF ( ACWX ) is up just 27.3% over the same period. ACWX tracks the MSCI ACWI ex USA Index, which excludes U.S. equities. Some market observers believe expected returns on U.S. stocks are lower from a historical perspective due to high valuations. While U.S. stocks are more richly valued than many of their international counterparts, but there are valid reasons why that is the case. “As has been the case in previous years, the out-performance of U.S. stocks over most other markets is being driven by a mix of better earnings growth and relentless multiple expansion,” said BlackRock in a recent note . “Since 2010, the S&P 500 Index has outperformed (on a price basis) the MSCI ACWI ex-U.S. Index by an average of 70 basis points (bps) a month, a statistically significant difference.” Some analysts believe that today’s late-cycle economic conditions of slowing growth and rising uncertainty should make investors take a more carefully balanced risk and reward approach to portfolio construction. Not Always The Case Historical data suggest that the gap between U.S. and international equities has not always been as wide as it is today. “While investors have become accustomed to this state of affairs, it was not always the case,” according to BlackRock. “In the period between 1990 and the end of 2009, the return differential between U.S. and non-U.S. equities was much smaller. During that period the average monthly performance spread was 22 bps, the median , which is less influenced by extreme observation, an even more insignificant 8 bps.” One of the primary reasons U.S. stocks are outpacing foreign rivals is return on equity (ROE). ROE “is considered a measure of how effectively management is using a company’s assets to create profits,” according to Investopedia . Story continues “The U.S. is also increasingly home to the world’s marquee companies in technology and communications, companies that tend to be consistently more profitable than the broader market,” said BlackRock. “A quick example illustrates the point. The top three companies in the S&P 500 are Microsoft, Apple and Amazon. Their average ROE is 39%. By contrast, the top three companies in Europe–Total, SAP and LVMH–have an average ROE of 14%. Perhaps it’s not such a mystery why U.S. companies, despite materially higher valuations, continue to outperform.” For more information on the markets, visit our current affairs 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 Bitcoin Tear Continues As BTC Breaches $8,000 New Bitcoin ETF Filed as BTC Price Eyes $8K Beyond Meat Up 5.25% Despite Sea of Red Crytocurrency Devotee Sees Bitcoin Tripling by 2021 Universal Basic Income Would Be a Social and Economic Disaster READ MORE AT ETFTRENDS.COM > || Most of Bitcoin’s Trading Volume is FAKE: Time to Wake the F*** Up?: Hands up, anyone who is surprised that a little-known crypto exchange that apparently had the largest bitcoin trading volume on CoinMarketCap has been exposed as a wash trading scam platform. In the world of crypto where apparently everyone made it to Lamboland during the 2017 bull run, and absolutely everybody knew when to sell, no one will admit that they have been played. Since Bitwise published its investigation two days ago showing that at least 95 percent of all bitcoin trading volume is faked on unregulated exchanges, the standard refrain has been “Everyone already knew that.”
To admit otherwise would be to admit that one is a “noob” and possibly a “bagholder,” but the fact that platforms likeCoinBenecontinue to exist and perpetrate what should be a transparent scam is indicative of a deeper problem within crypto. For whatever reason, otherwise sensible and rational investors seem to have internalized the idea that crypto “does not operate on conventional rules” and as such, it is OK to ignore what their experience or good sense tells them.
In the case of CoinBene, which purportedly has the largest daily bitcoin trading volume on CoinMarketCap, the scam is transparent – fake a high trading volume, and attract ICO suckers who want to get their sh*tcoin listed on a high volume platform without going through the regulatory processes of say, Coinbase or Gemini. In return for helping them jump the queue, charge them as much as $3 million per listing, and smile to the bank as their sh*tcoin inevitably sinks and eventually turns into a deadcoin. It’s almost like a victimless crime.
Despite CoinBene clearly being a no-name platform compared to the likes of Binance or Kraken, some clearly fell victim to a story that should have been very easy to spot as “too good to be true.” This is unfortunately all too common in the world of crypto, where common sense and Economics are often overlooked out of an irrational sense of optimism.
At the height of the 2017 bull run, for instance, it was not uncommon to see ICO whitepapers promising “at least 500% profit upon listing.” Others guaranteed that token prices would spike as much as 2000 percent and stay there because the ICO promoters would buy back a large portion of the tokens and create artificial scarcity. Ridiculous as these promises look in hindsight, many such projects raised millions of dollars, effectively preying on the naivety of crypto investors.
Read the full story on CCN.com. || Top 5 Crypto Performers Overview: XTZ, BNB, BCH, ETH, XMR: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by the HitBTC exchange. An extended downtrend usually goes through an accumulation phase before starting a new uptrend. Digital assets fund Adamant Capital believes that the crypto markets are currently going through that phase. Currently, about 3% of American retirees have invested in Bitcoin, according to a recent survey. 56.7% of the retirees have heard of Bitcoin, but are reluctant to invest. This might be due to the long and crushing bear market. When the markets start rising and enter a bull phase, many of these are likely to enter the markets. Clarity on regulations from the government will also result in greater participation. Andrew Yang — a United States Democratic presidential candidate for the 2020 elections — is in favor of implementing clear regulations on digital assets. The Chinese President Xi Jinping is bullish on the prospects of the blockchain technology for the future. Though cryptocurrency trading is banned in China, the ruling party sees the renminbi as a cryptocurrency in about 20 years, according to Donald Tapscott, executive chairman of the Blockchain Research Institute. However, how much support a centralized cryptocurrency launched by a central bank will receive in the community is yet to be seen. XTZ/USD Tezos ( XTZ ) was the best performer among the major cryptocurrencies in the past seven days. The market participants cheered the comments by French finance minister Bruno Le Maire on Tezos and the blockchain industry. In an interview to French magazine Capital , the minister said that France is looking to invest over $4.5 billion euros in innovative industries, including blockchain, in the next five years. Is Tezos worth a buy even now or will it enter a correction? Let’s find out. Story continues XTZ/USD The XTZ/USD pair has seen a strong pullback from the lows. From a low of $0.33, it has risen to the current levels, which is a rise of over 300%. It is presently trying to break out of the overhead resistance of $1.295480, but is facing resistance close to the 50-week SMA. The 20-week SMA has started to slope up and the RSI has jumped into the positive territory. This suggests that the bulls have the upper hand. We anticipate a stiff resistance between the 50-week SMA and $1.85. After the sharp recovery from the lows, we anticipate a minor correction or consolidation. However, if the momentum pushes the price above $1.85, the rally can reach $2.75 and above it to $4.20. After a sharp run-up, it is always better to wait and enter on a consolidation or a minor dip. BNB/USD Analysis by the Binance research team concluded that the crypto winter might be coming to an end. We believe the resurgence is being led by binance coin ( BNB ), which is the best performer among major cryptocurrencies and might become the first to scale the highs made during the bull run in January of last year. Crypto exchange Binance earned $78 million in profits in Q1 2019, a growth of 66% over the comparable quarter of the previous year. Binance CFO Wei Zhou said that the profits were boosted by the surge in OTC trades. The exchange has launched its mainnet and plans to execute the swap of binance coin on April 23 . Also this week, Binance has started a campaign to support the reconstruction of the Notre Dame Cathedral. BNB/USD The BNB/USD pair is on fire: it is close to breaking the previous high of $26.4732350 made in early January of 2018. This is a major sentiment booster as it gives confidence to the traders that the best is yet to come for the cryptocurrencies with strong fundamentals. As the pair moved up, it picked up momentum. While this is a bullish sign, it has also pushed the weekly RSI into deeply overbought zone. This increases the possibility of a minor correction or consolidation; however, it is difficult to time it. When the momentum is strong, overbought markets can become even more overbought. While the investors holding the cryptocurrency can stay put with an appropriate stop loss, it might be dicey to take a new position at the current levels, as the risk to reward ratio is not attractive. BCH/USD Bitcoin cash ( BCH ) was the main beneficiary of bitcoin SV’s delisting by major crypto exchanges this week. In another move, SBI Holdings has conversely said that it will delist bitcoin cash from its exchange in June 2019. The company has stated that the decision to delist bitcoin cash was premeditated, and had nothing to do with its partnership with nChain (whose chief scientist, Craig Wright, is the founder of BSV). BCH/USD The BCH/USD pair had surged the week before. After the sharp move, the previous week saw mild correction. This week, the pair is again attempting to break out of the overhead resistance at $363.30. If successful, it can move up to $451.32. The 50-week SMA is close to this level; hence, this might act as a resistance. But if the bulls breakout of this resistance zone, a rally to $600 can be on the cards. Meanwhile, the 20-week EMA is flat and the RSI is close to the center. This points to a consolidation for a few more weeks. However, if the bears sink the digital currency below the support zone of $255 and the 20-week EMA, a fall to $166.25 is probable. ETH/USD Cryptocurrency exchange Coincheck has added ether ( ETH ) to its over-the-counter offering. Ethereum core developers are debating whether more frequent and smaller hard forks are better than the larger and less frequent hard forks. The decentralized platform needs to be on its toes to ward off the increasing competition. ETH/USD The ETH/USD pair is facing a stiff tussle between the bears and the bulls at the critical $167.32 level. While the bulls scaled this level in the week before, completing an ascending triangle pattern, they could not build up on the gains. Last week, the bears attempted to sink the pair back into the triangle. This week, the bulls are again trying to keep the price above $167.32. If the bulls succeed in pushing the price above $187.98, the digital currency can rally to its target objective of $251.64. On the other hand, a breakdown of $167.32 and the 20-week EMA will turn the tables in favor of the bears. The next couple of weeks are critical for the cryptocurrency, as it will determine the next directional move. XMR/USD Monero ( XMR ) celebrated its fifth anniversary this week with a slew of events. Can the fifth best performer of the past week better its performance in the coming weeks? Let’s find out. XMR/USD The XMR/USD pair has been sustaining above the breakout level of $60.147 and the 20-week EMA for the past two weeks. This is a positive sign and it increases the possibility of a breakout above $81. If the bulls sustain the price above $81, it can gradually move up to $114.840, and above it to $128.650. The medium-term target is $150. On the other hand, if the price fails to scale above the overhead resistance, it can remain range bound between $60.147 and $81 for a few weeks. The pair will weaken if the bears sink the price below $60.147. The market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView . Related Articles: Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 22 Bitcoin Hovers Over $5,250 as Top Cryptos See Growth Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 17 Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 10 || How Bitpay makes it easy to spend, accept, and store Bitcoin: Bitpay is a Bitcoin payment service provider based in Atlanta, United States. It was created and launched in 2011 when Bitcoin was still young. However, Bitpay saw the potential it had. The goal of Bitpay is to revolutionise the financial industry along with Bitcoin to create a faster, more secure, and less expensive payment system on a global scale. It is currently the largest Bitcoin payment processor in the world, working to help businesses across six different continents. Bitpay has created a seamless and secure Bitcoin payment service that thousands of Bitcoin users and businesses experience and use every day. Even though payment processing was its first mission, since the launch in 2011, the company has also created other services. How it works The payment service enables businesses to accept payments in Bitcoin and Bitcoin Cash and send those funds directly to a bank account. It allows these payments in 38 different countries, settled in euros, dollars, and many more currencies. Bitpay works by allowing customers to pay with Bitcoin during their checkout process. They then pay the invoice to Bitpay at a locked-in exchange rate. After this, Bitpay uses modern technology to convert the Bitcoin into fiat whilst shielding the customer from any volatility risks. Finally, the business will then get the direct deposit into their bank account. Why the need for Bitpay? So why should you accept blockchain payments? The first reason is that using Bitpay and paying with Bitcoin allows you to keep more of your money. Credit cards take up to 3% of processing fees for every transaction processed. However, by accepting Bitcoin and Bitcoin Cash, businesses can get direct bank deposits in any currency for a flat rate of 1%. Another benefit is the end of chargeback fraud and identity theft. With other payment methods, customers and businesses are forced to shoulder certain risks of payment fraud. But with Bitcoin, customers are able to pay without giving sensitive personal information. Refunds are also made through the merchant, meaning there will be no chargeback. Story continues One of the most beneficial aspects of using Bitpay and Bitcoin is the payment advantages it brings. With Bitpay, businesses are able to accept payments from online customers at checkout and accept bill payments across towns or borders. Businesses and customers can connect to borderless payment networks and can receive payments of any cost from any mobile or computer from anywhere in the world. Bitpay wallet Bitpay has also created its own wallet with which users can manage their blockchain finances in one secure and open-source place. With the wallet, users no longer need to keep their crypto online. It has been proven that it is much safer to keep digital assets on a wallet as they are less likely to be hacked and no one has control over your money. Users can also do more with their Bitcoin and Bitcoin Cash with the wallet. The Bitpay wallet enables you to buy and sell Bitcoin directly from within the wallet. You can also load and manage the Bitpay card, which is accepted at all Visa merchants and is compatible with all ATMs worldwide. Final thoughts Bitpay is a great payment service for global businesses and customers alike. It has all the features to handle worldwide payments whilst having the security and easy interface for beginners. For guides on cryptocurrencies , exchanges , and blockchain technology , click here . Make sure you take a look at all the latest crypto and blockchain news . The post How Bitpay makes it easy to spend, accept, and store Bitcoin appeared first on Coin Rivet . || Bitcoin Unlimited Loses Another Member in Anti-Bitcoin SV Protest: Long-time Bitcoin Unlimited member Tomislav Dugandzic has announced his exit in protest to coziness with Bitcoin SV. | Source: Shutterstock. Occasional developer Tomislav Dugandzic has decided to leave Bitcoin Unlimited, following the exit of Bitcoin ABC lead developer Amaury Sechet and Antony Zegers. Dugandzic does so in protest of Bitcoin Unlimiteds friendliness with Bitcoin SV elements within its forces: After careful consideration I too am hereby resigning my BU membership. Antony Zegers and Amaury Sechet have already resigned in protest and so am I. The current BU leadership's collaboration with the BSV community is unacceptable and I want no part in it. Tomislav Dugandzic (@todu77) March 26, 2019 No Big Deal? To date, Dugandzic is the third member to leave in the last two weeks. With each resignation, Bitcoin SV proponents get closer to dominating the group. However, a revealing Reddit post made by another Bitcoin Unlimited member points out that the group doesnt miss any of the three whove left so far. The unidentified developer says: Nobody whos actually doing active development on BU has left. In fact we just added another full time dev. An None of the people that left BU actually contributed to the BU codebase in any meaningful way. Although to be fair Amaury did submit one PR a couple of years ago, if I recall correctly, which was a cherry pick from Core (I think it was the C++11 upgrade), and he had some input on clang formatting, but they were certainly not substantial contributions. And neither Antony Zegers nor this other fellow ever contributed anything to the codebase that I know of. Im sorry to see them go but its not great loss to BU development. This reporter was unable to determine the exact identity of u/BitsenBytes. He is a verified developer as per this post from last year, just not sure which one. Using that post and process of elimination, he is most probably Peter Tschipper . However, we could not verify this beyond a hunch: Story continues We wanted to be sure we were quoting the right person, but we were unable to get a response by press time. Read the full story on CCN.com . || HTC Says Its Next Smartphone Will Run a Full Bitcoin Node: Mobile phone manufacturer HTC wants to let its smartphone customers plug into the bitcoin blockchain. Speaking on Saturday at the Magical Crypto Conference in New York, HTC’s Phil Chen revealed a new low-cost version of its blockchain phone, the EXODUS 1s, announcing that the device will be capable of acting as a full node for the bitcoin network, meaning customers will store the entire blockchain’s data on their devices. The company will also provide a software development kit (SDK) available for its Zion Vault, HTC’s crypto wallet app, and eventually plans to open-source the code behind its social key recovery mechanism. HTC Plans to Launch Another Blockchain Phone This Year, Exec Says Phil Chen, HTC’s decentralized chief officer, told CoinDesk that the company is targeting a release by the end of Q3. “[The 1s is] going to be a lot cheaper, it will be a lot more accessible,” he said. The device will retail for between $250 and $300. Specifications have not yet been released for the device. The 1s will be based on the HTC EXODUS 1, which was announced at CoinDesk’s Consensus 2018 and released later in the year. While customers could initially only purchase the device with crypto, HTC opened up fiat payment options in February. Full node New $50 Million Venture Fund Eyes Global Blockchain Adoption The most striking promise of the 1s will be its ability to run a full bitcoin node. Chen explained that the company saw that as “a really important piece of the pie” for the bitcoin ecosystem. “We think that’s foundational to the whole decentralized internet and just the whole fundamental premise,” he said. “If you don’t own your keys, you don’t own your bitcoin, you don’t own your crypto.” The EXODUS 1 was designed to let users maintain their own private keys, which in turn formed the basis for this next move, Chen said. He believes that from a technological standpoint, smartphones today are physically capable of handling the effort, noting that computing chips and storage media are constantly becoming cheaper and more efficient. “We expect that phones will be powerful enough,” he contended, adding: “The bitcoin blockchain is about 200 [gigabytes], and it’s growing about 60 gigs per year. And those numbers are reasonable to hold on a smartphone. Imagine the iPod with 256 gigs … of course the music fan wants to keep the whole music library but the crypto fan wants to keep the whole bitcoin blockchain.” By letting users run full nodes, HTC is giving them the ability to verify data themselves, he said. “[You can] be a part of the bitcoin revolution by contributing to the security of the whole network,” said Chen. Story continues That being said, the EXODUS 1s will still be capable of conducting normal smartphone operations, with room for music, videos, pictures, apps and dapps. Other blockchains? HTC plans to support the bitcoin blockchain at launch, but Chen did not rule out adding support for other networks. The chief considerations include how much memory and bandwidth other networks would require, he explained. “I think running light nodes, like ethereum for example, is definitely doable, [but] it all depends on the spec,” he said. The company also plans to focus on public blockchains, which Chen believes are far easier to support than private networks. That said, HTC is not planning on adding support for any other networks explicitly at this time. “I see bitcoin as one of the most important if not the most important blockchains,” he said. “We definitely want to support that first and given what bitcoin stands for, open, neutral, censorship-resistance.” He also noted that bitcoin is “the most proven” network, and supporting it was at least a little symbolic as well. Once HTC is able to launch the 1s, Chen expects that his team will be able to apply the experience from supporting a bitcoin node to other networks. Ecosystem construction Its new 1s falls in line with HTC’s goal of contributing to the broader crypto ecosystem. Demand from the EXODUS has been “in track” with HTC’s expectations, Chen said. However, the company is still soliciting feedback from the community. To that end, HTC is publishing its Zion Vault SDK for developers and ultimately plans to make its social key recovery mechanism available for other wallets to utilize (though there is no set timeline for this last part). The company is also continuing to support its existing EXODUS 1 product, adding an Etherscan widget for customers to explore the ethereum blockchain and support for further non-fungible tokens. Chen said the company would continue to develop products for the line, targeting a user-focused experience. “I think people who really care about the public blockchain space see the role we play in this ecosystem. We’ve gotten a lot of support from developers and we’re very authentic about empowering developers,” he said. Image via Magical Crypto Conference Related Stories Sirin Labs Lays Off 25% of Staff Amid Poor Blockchain Phone Sales New iPhone-Controlled Crypto Vault Promises ‘Bank-Grade’ Security View comments
[Random Sample of Social Media Buzz (last 60 days)]
⬆ +39 Ripple XRP Is a Sleeping Giant, Soon To Explode in Adoption and Price https://t.co/1uzAMZ2bLJ $BTC $XRP || @ABC Setup your FREE account Now : https://t.co/2XLFlIZDX1
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#Crypto #Cryptocurrency #Bitcoin #BTC #btc https://t.co/zj9XwWsUoX || @garrytan Don’t tell me BTC is a call on the block chain as much as it is crypto lmao || @APompliano @kevinolearytv Great job today representing tokenization (Bitcoin)! I always appreciate your sound and measured explanations especially to the old guys!
Great spokesperson for the community - like it, or not! || 🧲 La minería de Bitcoin contamina tanto al año como un millón de vuelos trasatlánticos https://t.co/EPuOgAVFhy || 世界取引所の円換算ビットコイン価格をリアルタイム表示 #ビットコイン #Bitcoin "https://t.co/V5CjGLMOMH" https://t.co/l6fwLdrNjv || USD: 110.760
EUR: 124.030
GBP: 144.985
AUD: 77.388
NZD: 73.179
CNY: 16.363
CHF: 108.855
BTC: 631,564
ETH: 19,105
Tue May 07 08:00 JST || Top 5 #crypto gainers
Alert Time: 2019-04-28 00:00:49
#BuckHathCoin: $0.05664
#EmeraldCrypto: $0.00746
#Ondori: $0.00005
#ViceIndustryToken: $0.00624
#Kurrent: $0.00032
#instaico #btc #trading #dappshttps://bitutm.com || #FF
Looks like @VitalikButerin had to remember people why @ethereum was born... || BTC
下落圧力弱いな
もう一回上げてからの下落かな？
|
Trend: up || Prices: 7343.90, 7271.21, 8197.69, 7978.31, 7963.33, 7680.07, 7881.85, 7987.37, 8052.54, 8673.22
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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 2022-03-08]
BTC Price: 38737.27, BTC RSI: 45.09
Gold Price: 2040.10, Gold RSI: 77.62
Oil Price: 123.70, Oil RSI: 82.85
[Random Sample of News (last 60 days)]
French Montana Tweeted About POTUS47DAO: The Next Big Thing to Happen in the Radio Caca (RACA)’s USM Metaverse: POTUS47DAO is being launched in the United States of Mars, the USM Metaverse created by Radio Caca (RACA). RADIO CACA FOUNDATION LTD. POTUS47DAO is being launched in the United States of Mars, the USM Metaverse created by Radio Caca (RACA). Singapore, Feb. 11, 2022 (GLOBE NEWSWIRE) -- POTUS47DAO, a mission to elect a NFT PFP to be the next president of the United States, is being launched in the United States of Mars, the USM Metaverse created by Radio Caca (RACA). As a novel concept, POTUS47DAO already gained some traction – French Montana, the rapper, for example, tweeted it. POTUS47DAO is not just a public stunt but rather a new form of grass-root movement. Currently, the POTUS47DAO community is optimistic about the DAO’s mission and is planning to coordinate with the bitcoin and other crypto communities to secure the candidate (NFT) a virtual residency and eventually citizenship in order to qualify for the presidential candidacy. Shortly after the famous Moroccan-American hip-hop singer French Montana retweeted POTUS47DAO, a jaw-dropping NFT movement happening in the Radio Caca (RACA) USM Metaverse, the, both Radio Caca (RACA) and the Raca Punk captured the attention of a large number of crypto enthusiasts, causing massive bounce of the prices of both assets. The event began with a tweet from Emma, the initiator of the POTUS47DAO: “Just initiated @POTUS47DAO inside @RadioCacaNFT's USM 3D world. Welcome to our #POTUS47DAO launch party! Vote between two NFT Profile Pictures (PFP) to be the 47th President of the United States on April 8 at Bitcoin 2022 in Miami, FL @BitcoinMagazine @larvalabs” To which, French Montana responded: “It’s time to change the game. I’m voting for @EmmaRACA's PFP: cryptopunk #4453.” The brief engagement between French Montana and Emma about Radio Caca (RACA) USM Metaverse and POTUS47DAO has ignited the crypto community; the number of discussions surged, and the floor prices of NFTs such as the RacaPunk rose sharply. What is POTUS47DAO? POTUS47DAO is a decentralized autonomous organization (DAO) in the Radio Caca (RACA) USM Metaverse. The idea was inspired by a social humanoid robot, Sophia. Developed using computer vision algorithms and natural language processing technologies and capable of mimicking 62 human expressions, the humanoid AI attracted much attention and many controversies. In 2017, the Saudi Arabian government took the unprecedented decision to grant her full citizenship in the country. The decision was truly monumental as it opened gates of many questions: as a citizen, can the robot have right to vote, get married, or even be murdered? Story continues POTUS47DAO is an attempt to convey a message: the reality of modern societies are entirely devised by media outlets and the elites who control them. In the Metaverse, it will be different. People will be able to opt out of the manufactured reality and form their own ones, which are boundless and numerous. The POTUS47DAO could demonstrate the feasibility of such a future and even potentially inspire a movement. Radio Caca (RACA) also officially announced that the POTUS47DAO is to campaign for a Profile Picture (PFP) NFT, elected by its own community, to run for the 47th President of the United States. First, the objective is to gain support of the mayor of Miami and secure the candidate's Miami legal residency as the first step toward the PFP’s presidential candidacy. On April 8, 2022, POTUS47DAO will host an offline launch party at Bitcoin 2022 in Miami, Florida as well as an online event inside the Radio Caca (RACA) USM Metaverse ( https://www.usmverse.com/ ). During the events, the DAO members will vote on the nomination between CryptoPunk #4453 and the RACA SSR Kiss-up Dog for running the next President of the United States of America, POTUS 47. From April to October, 2022, POTUS47DAO and Radio Caca (RACA) will hold a global celebration tour in the United States, Japan, Korea, Vietnam, Indonesia, Brazil, Russia, Turkey, and other countries and regions. The global tour will be live streamed in Radio Caca (RACA)'s USM 3D Metaverse. Many fans in the Radio Caca (RACA) community believe that high-profile collaborations are likely and will rejuvenate the community and create good PR. Perhaps a new wave of adoption of the Radio Caca Metaverse ecosystem is on the horizon. For more POTUS47DAO news, please check: POTUS47DAO (@POTUS47DAO) Twitter: https://twitter.com/POTUS47DAO POTUS47DAO Instagram: https://www.instagram.com/potus47dao/ Emma Twitter: https://twitter.com/EmmaRACA Emma Instagram: https://www.instagram.com/emmaraca Radio Caca (RACA) Social Media: Twitter: https://twitter.com/RadioCacaNFT Medium: https://radiocaca.medium.com/ Telegram: https://t.me/RadioCaca Media Contact: Company Name: RADIO CACA FOUNDATION LTD. Contact Person: Mike Radio Email: [email protected] Website URL: https://www.radiocaca.com/ Address: 3 Fraser Street, #05-25, Duo Tower, Singapore, 189352 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 a recommendation to buy, sell, or hold any investment or security, or to engage in any investment strategy or transaction. It is your responsibility to determine whether any investment, investment strategy, security, or related transaction is appropriate for you based on your investment objectives, financial circumstances, and risk tolerance. Consult your business advisor, attorney, or tax advisor regarding your specific business, legal, or tax situation. Attachment RADIO CACA FOUNDATION LTD. || Damien Hirst Launches Chainlink Price Index for NFT Project: Damien Hirst’s first non-fungible token ( NFT ) collection is getting a dedicated price index courtesy of Chainlink, a crypto network and data provider. When Hirst – the British artist best known for wildly expensive works involving taxidermied sharks and diamond-studded skulls – released “The Currency” last year, the project took most of its cues from other popular NFT collections. Like CryptoPunks or the Bored Ape Yacht Club, “The Currency” consists of 10,000 images with slight variations. And as with those projects, it was valued partly according to its “floor,” or the lowest listed price for a single NFT in the collection. Now, a new price index will offer another metric for valuing the project based around Chainlink’s “oracles” – essentially a way of providing off-chain data to crypto networks. Often, they’re used to collect price data for cryptocurrencies. (Chainlink offers data feeds for Ethereum, Bitcoin and other popular coins.) (1/3) HENI is delighted to be the first NFT project to use @Chainlink oracles for pricing @hirst_official 's #TheCurrency NFTs. HENI is using the oracles on Ethereum mainnet to provide up-to-date pricing values for the collection to DeFi. Head to https://t.co/tWSakUQ8H4 ! — HENI (@HENIGroup) January 18, 2022 Hirst’s new price index feeds recent market data into an algorithm and spits out a “robust” price estimate for “most of the non-rare NFTs in the collection.” Joe Hage, the founder of the tech company HENI, which has partnered with Hirst, said “The Currency” has always been an attempt to make art feel a little more like money. Story continues “It's about the relationship between art and money and value, and how art itself can be used as a store of wealth, and even as something you can use as a currency,” he told me. The hope is the new price index will make that connection even more explicit, connecting these digital artworks with the world of DeFi, or decentralized finance. With a hard valuation for tokens in “The Currency,” Hage said he expects NFT holders to start borrowing against their pieces. “The inventive and helpful nature of the community is constantly inspiring me and blowing my mind.” Damien Hirst Though the structure of Hirst’s project resembles that of CryptoPunks, the similarities are only skin deep. Each work in “The Currency” is a digital representation of a physical painting. Only the NFTs are for sale, but by the end of this coming July token holders will need to decide whether they’d like to own their NFT or the corresponding physical painting. Choose the token and the painting is destroyed; choose the painting and the token is burned. Until then, all 10,000 physical editions are being stored “in a vault in the U.K." In an email, Hirst said that even though he stepped into the crypto world “a bit blind” last year, he’s been happy with how the project has turned out. “It’s an experiment for me as much as anyone else, and the greatest joy for me is that there’s continuous activity and excitement in the community,” he wrote. “The inventive and helpful nature of the community is constantly inspiring me and blowing my mind.” The floor for the collection is currently 5.05 ETH, or over $15,000. || Block Shares Surge on Rosy Outlook for Rest of Year: (Bloomberg) -- Block Inc., the digital-payments firm run by Jack Dorsey, surged as much as 30% in late trading after it reported fourth-quarter revenue that topped projections and gave an unexpectedly positive outlook for 2022. Most Read from Bloomberg China Holds Talks With Ukraine, Further Edging Away From Russia China Spy Think Tank Advising Xi Predicts Russia Sanctions Will Backfire Teen Who Tracked Elon Musk’s Jet Is Now Chasing Russian Tycoons Biden Assails Putin, Pledges Inflation Fight in State of Union Microsoft Says Son of CEO Satya Nadella Has Died at 26 Fourth-quarter revenue was $4.08 billion, slightly topping the $4.01 billion average estimated by analysts. Block, formerly known as Square, also said its Cash App’s gross profit will be stronger in the second half of the year because of expected product improvements and commerce integrations following the company’s purchase of buy-now, pay-later company AfterPay. While gross payment volume will be lower than expected in the current quarter, Block said it will increase gross profit each quarter for both Cash App and the Square seller business for the rest of the year. That growth will be partly helped by easier comparisons, the company said on a call with analysts. Gross profit for the fourth quarter -- a metric that includes fees from Square’s Cash App and Seller businesses -- was $1.18 billion, up 47% over the same period a year ago. The stock surged as high as $123.09 in extended trading after closing at $94.99 in New York. Thursday was the company’s first earnings report since changing its name in December, an effort to differentiate the corporate entity from the Square seller product, and a signal of its increased investment in blockchain technologies and Bitcoin. Co-founder and Chief Executive Officer Dorsey is a Bitcoin enthusiast, and San Francisco-based Block has a number of Bitcoin-related initiatives in the works, including a financial-services division focused on the cryptocurrency. Story continues Revenue from Bitcoin purchases in the fourth quarter was $1.96 billion, almost half of Block’s total quarterly sales, though executives say those transactions contribute little to the bottom line. Gross profit generated by Bitcoin sales was just $46 million. Net income, excluding some items, was $140.4 million. Analysts projected $115.1 million. In January, Dorsey confirmed Block’s plans to develop its own Bitcoin mining system. It’s also the first financial report since Dorsey resigned as CEO of his other company, Twitter Inc., in November. Dorsey is no longer dividing his time between two companies, for the first time since 2015. Block also said it completed its $29 billion purchase of AfterPay at the end of January. (Includes comments from Block analyst call and shareholder letter) Most Read from Bloomberg Businessweek The Metaverse Finally Has a Killer App: Poker Tech Giants Stage Their First All-Out Brawl in the Metaverse The Fog of Cyberwar Descends on Ukraine and Russia A Billionaire’s Heir Hangs Up His Healing Crystal to Fix Capitalism Wall Street’s Risky ‘Razor Blade’ Trade Is Making a Comeback ©2022 Bloomberg L.P. || Bitcoin Price Predictions: Where Will the BTC Crypto Go After Plunging Below $40,000?: Bitcoin(CCC:BTC-USD), the largest cryptocurrency, has had a rough start to the new year. Today, it dipped below $40,000, representing the first time since this past September.
Source: kitti Suwanekkasit / Shutterstock.com
Is seasonality to blame?CoinDeskreports that Bitcoin declines by anaverage of 3.3% during Januarybased on the past nine years. However, February is a different story; Bitcoin has increased by an average of over 10% during that month. This suggests that some BTC traders may be selling into the January decline in hopes of picking up the coin at lower prices in anticipation of a February jump.
This cryptocurrency also recently picked up an acclaimed investor as a supporter. Recently, hedge fund legend Bill Miller revealed that over“50% of his net worth”is in Bitcoin and Bitcoin-related companies, such asMicroStrategy(NASDAQ:MSTR). Miller notes that he views Bitcoin as a “insurance policy against a financial catastrophe” and that he is in favor of Bitcoin’s scarcity. Miller went on to say that individual investors should put at least 1% of their assets in Bitcoin because it is “very under-penetrated” and “can go up ten times or fifty times,” among other reasons.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Bitcoin investors should breathe a sigh of relief knowing they have Bill Miller on their side. So, with that in mind, let’s take a look at some Bitcoin price predictions.
• Goldman Sachs has a 2027price prediction of $100,000. Co-head of foreign exchange strategy Zach Pandl believes comparing Bitcoin to gold can “help put parameters on plausible outcomes for bitcoin returns.” Pandl adds that if Bitcoin’s share of the store of value market rises by 50% over the next five years, it could increase to over $100,000. This would make for compounded annualized returns of between 17% and 18%.
• Wallet Investorhas a 2022 price prediction of around $72,000. This prediction would implyupside of over 70%from current prices.Wallet Investorcalls the crypto “an awesome long-term investment.” Further, the site shows that sentiment surrounding BTC has been extremely bearish for the past month.
• Sussex University finance professor Carol Alexander has a 2022price prediction of $10,000. This prediction would represent a massive 76% decline. Alexander warns enthusiasts of the crypto’s 2018 crash and believes the same could happen this year. The professor also says Bitcoin “has no fundamental value.” Instead, Alexander recommends investors look into cryptocurrencies with actual utility, such asSolana(CCC:SOL-USD) orCardano(CCC:ADA-USD).
On the date of publication, Eddie Pan 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 the InvestorPlace.comPublishing Guidelines.
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The postBitcoin Price Predictions: Where Will the BTC Crypto Go After Plunging Below $40,000?appeared first onInvestorPlace. || MicroStrategy Buys Additional $25M Worth of Bitcoin During Market Dip: MicroStrategy (Nasdaq: MSTR), the business-intelligence software company that has taken to accumulating bitcoin, said it bought approximately 660 bitcoins for around $25 million between Dec. 30, 2021, and Jan. 31, 2022.
• The company paid an average price of $37,865 per bitcoin,it said in a statement.
• The 660 BTC acquired across the 32-day period equates to an average of 21 a day. That's a markedly lower rate than in December,when the firm bought 1,914in the 20 days ended Dec. 29 – an average of 96 a day – and that was itself slower thanthe 1,434 bitcoin it boughtin the first nine days of the month.
• The slowdown may point to MicroStrategy exercising greater caution in its bitcoin acquisitions given the market's recent downturn. The world's largest cryptocurrency by market capitalization hit a record high near $69,000 in November and is now trading around $39,000.
• Tysons Corner, Va.-based MicroStrategy now holds a total of 125,051 bitcoins, valued at about $4.8 billion at the current bitcoin price of $38,700.
• Shares of MicroStrategy have fallen around 34% over the last month.
• CEO Michael Saylor has been insistent that the company has no plans to sell its bitcoin holdings and is invested the long term.
Read more:SEC Objects to MicroStrategy’s Accounting Adjustment for Its Bitcoin Holdings
UPDATE (Feb. 1, 13:27 UTC): Corrects dates in the first paragraph to Dec. 30, 2021 and Jan. 31, 2022.
UPDATE (Feb. 1, 14:39 UTC):Adds rate of purchases in the second and third bullet points. || Natural Gas Slides but Holds Key Support: Natural gas moved lower on Tuesday, testing critical support. The weather is expected to be much colder than normal in the South, mid-West, and East Coast during the next 6-10 days. The weather will likely moderate during the next 8-14 days, with colder air in the mid-West and East Coast and warmer air on the West Coast. U.S. consumption of natural gas increased across the entire U.S. last week due to the weather and LNG exports. Technical Analysis On Tuesday, natural gas prices dipped, testing support near an upward sloping trend line that comes in near 4.61. Additional support is seen near the 10-day moving average at 4.23. Resistance is seen near the December highs at 5.51. Short-term momentum has turned negative as the fast stochastic generated a crossover sell signal. Medium-term momentum is positive as the MACD (moving average convergence divergence) histogram is printing in positive territory with an accelerating trajectory which points to higher prices. Prices are overbought as the fast stochastic is printing a reading of 87, above the overbought trigger level of 80. Natural Gas Consumption Rises U.S. total consumption of natural gas increases across all sectors compared with the previous report week. Total U.S. consumption of natural gas rose by 14.2% compared with the previous report week, with increases greater than 4% week over week in all sectors. The largest increase was in the residential and commercial sectors, where consumption increased by 21.4% as substantial below-average daytime and nighttime temperatures took hold. This article was originally posted on FX Empire More From FXEMPIRE: Solo Bitcoin Miner Solves One Full Valid Block as BTC Price Pushes for Gains European Equities: Eurozone Inflation and U.S ADP Nonfarm Payrolls in Focus Silver Markets Continue to Attempt Base Building S&P 500 Sluggish at Big Figure USD/CAD Tests Support At 1.2680 Crude Oil Markets Continue to Push Higher || Capital City Trust Co Buys Broadcom Inc, Pfizer Inc, Duke Energy Corp, Sells Fiserv Inc, BTC ...: Investment companyCapital City Trust Co(Current Portfolio) buys Broadcom Inc, Pfizer Inc, Duke Energy Corp, CSX Corp, Alliant Energy Corp, sells Fiserv Inc, BTC iShares Floating Rate Bond ETF, PIMCO Enhanced Short Maturity Active Exchange-Trad, Vanguard Short-Term Bond ETF, Berkshire Hathaway Inc during the 3-months ended 2021Q4, according to the most recent filings of the investment company, Capital City Trust Co. As of 2021Q4, Capital City Trust Co owns 120 stocks with a total value of $352 million. These are the details of the buys and sells.
• New Purchases:PFE, DUK, CSX, LNT, HUM, SO,
• Added Positions:AVGO, ANET, PFF, VOO, TROW, ORCL, JPM, LYB, V, ROP, GOOGL, AMZN, BRK.B, GD, CL, CTSH, LH, USB, VZ, TRV, CVS, RTX, FTV, VFC, UNH, PEG, VNQ, CVX, MPC, ABC, XOM, CARR, DIS, MRK, HON, ENB,
• Reduced Positions:FISV, CCBG, AGG, BSV, KO, AAPL, IWB, TMO, VYM, IBM, IGSB, SPY, BX, ETN, INTC, UNP, DVY, TFC, VCR, IWF, T, IJR, OTIS, PM, HD, GPN, FAST, BMY, BAC, VEU, ADP, AMGN, IEFA, NKE,
• Sold Out:FLOT, MINT, BRK.A,
• Warning! GuruFocus has detected 11 Warning Signs with SO. Click here to check it out.
• AVGO 15-Year Financial Data
• The intrinsic value of AVGO
• Peter Lynch Chart of AVGO
For the details of CAPITAL CITY TRUST CO's stock buys and sells,go tohttps://www.gurufocus.com/guru/capital+city+trust+co/current-portfolio/portfolio
These are the top 5 holdings of CAPITAL CITY TRUST CO
1. Coca-Cola Co (KO) - 681,218 shares, 11.45% of the total portfolio. Shares reduced by 1.06%
2. Apple Inc (AAPL) - 115,386 shares, 5.82% of the total portfolio. Shares reduced by 2.07%
3. Microsoft Corp (MSFT) - 49,753 shares, 4.75% of the total portfolio. Shares reduced by 1%
4. BlackRock Inc (BLK) - 10,127 shares, 2.63% of the total portfolio. Shares added by 0.73%
5. Alphabet Inc (GOOGL) - 3,177 shares, 2.61% of the total portfolio. Shares added by 1.18%
New Purchase: Pfizer Inc (PFE)
Capital City Trust Co initiated holding in Pfizer Inc. The purchase prices were between $41.32 and $61.25, with an estimated average price of $49.81. The stock is now traded at around $52.540000. The impact to a portfolio due to this purchase was 0.09%. The holding were 5,648 shares as of 2021-12-31.
New Purchase: Duke Energy Corp (DUK)
Capital City Trust Co initiated holding in Duke Energy Corp. The purchase prices were between $96.62 and $104.9, with an estimated average price of $101.43. The stock is now traded at around $102.320000. The impact to a portfolio due to this purchase was 0.08%. The holding were 2,692 shares as of 2021-12-31.
New Purchase: CSX Corp (CSX)
Capital City Trust Co initiated holding in CSX Corp. The purchase prices were between $30.51 and $37.6, with an estimated average price of $35.38. The stock is now traded at around $33.720000. The impact to a portfolio due to this purchase was 0.07%. The holding were 6,100 shares as of 2021-12-31.
New Purchase: Alliant Energy Corp (LNT)
Capital City Trust Co initiated holding in Alliant Energy Corp. The purchase prices were between $54.66 and $61.47, with an estimated average price of $57.35. The stock is now traded at around $58.310000. The impact to a portfolio due to this purchase was 0.06%. The holding were 3,328 shares as of 2021-12-31.
New Purchase: Southern Co (SO)
Capital City Trust Co initiated holding in Southern Co. The purchase prices were between $61.1 and $68.58, with an estimated average price of $63.82. The stock is now traded at around $67.250000. The impact to a portfolio due to this purchase was 0.06%. The holding were 3,136 shares as of 2021-12-31.
New Purchase: Humana Inc (HUM)
Capital City Trust Co initiated holding in Humana Inc. The purchase prices were between $384.96 and $469.02, with an estimated average price of $443.48. The stock is now traded at around $375.040000. The impact to a portfolio due to this purchase was 0.06%. The holding were 480 shares as of 2021-12-31.
Added: Broadcom Inc (AVGO)
Capital City Trust Co added to a holding in Broadcom Inc by 23.50%. 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 $534.140000. The impact to a portfolio due to this purchase was 0.31%. The holding were 8,644 shares as of 2021-12-31.
Sold Out: BTC iShares Floating Rate Bond ETF (FLOT)
Capital City Trust Co sold out a holding in BTC iShares Floating Rate Bond ETF. The sale prices were between $50.61 and $50.77, with an estimated average price of $50.71.
Sold Out: PIMCO Enhanced Short Maturity Active Exchange-Trad (MINT)
Capital City Trust Co sold out a holding in PIMCO Enhanced Short Maturity Active Exchange-Trad. The sale prices were between $101.51 and $101.8, with an estimated average price of $101.63.
Sold Out: Berkshire Hathaway Inc (BRK.A)
Capital City Trust Co sold out a holding in Berkshire Hathaway Inc. The sale prices were between $412540 and $454550, with an estimated average price of $432297.
Here is the complete portfolio of CAPITAL CITY TRUST CO. Also check out:1. CAPITAL CITY TRUST CO's Undervalued Stocks2. CAPITAL CITY TRUST CO's Top Growth Companies, and3. CAPITAL CITY TRUST CO's High Yield stocks4. Stocks that CAPITAL CITY TRUST CO keeps buyingThis article first appeared onGuruFocus. || Silver Tests Resistance At $22.95: Silver ETF Rallies At The Start Of The Week Silver is currently trying to settle above the resistance at the 20 EMA at $22.95 while U.S. dollar is mostly flat against a broad basket of currencies. Meanwhile, iShares Silver Trust made an attempt to get above its 20 EMA at $21.20. The U.S. Dollar Index failed to settle above 95.50 and pulled back towards the nearest support level at 95.40. In case the U.S. Dollar Index manages to settle below this level, it will move towards the next support level at 95.20 which will be bullish for silver and gold price today. Weaker dollar is bullish for precious metals as it makes them cheaper for buyers who have other currencies. Gold is currently testing the resistance level at $1815 while SPDR Gold Trust is trying to get above the $169.50 level. In case gold settles above $1815, it will gain additional upside momentum and head towards the resistance level at $1830 which will be bullish for silver. Gold/silver ratio pulled back below the 80 level and is trying to settle below 79.50. In case this attempt is successful, gold/silver ratio will head towards the 20 EMA at 78.95 which will be bullish for silver. Technical Analysis Silver is testing the nearest resistance level at the 20 EMA at $22.95. If silver manages to settle above this level, it will move towards the 50 EMA which is located near $23.05. A move above the resistance at the 50 EMA will open the way to the test of the resistance at $23.20. If silver gets above this level, it will continue its upside move and head towards the resistance at $23.50. On the support side, the previous resistance at $22.80 will serve as the first support level for silver. A move below this level will push silver towards the next support at $22.60. In case silver manages to settle below the support at $22.60, it will head towards the support level which is located at $22.30. 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: After Bitcoin Craze Venezuelans to Face upto 20% Crypto Tax Quiet Day for the S&P 500 and Wall Street A Substantial Counter-trend Rally Should Now Be Underway for Ethereum Bitcoin and Ether Turn Green, Why XRP Could Surge To $1 Natural Gas Markets Gap Lower to Kick Off the Week E-mini S&P 500 Sellers Respecting 4510.50 Resistance || Navalign, LLC Buys Rockwell Automation Inc, BTC iShares Core MSCI EAFE ETF, The Walt Disney Co, ...: Investment company Navalign, LLC ( Current Portfolio ) buys Rockwell Automation Inc, BTC iShares Core MSCI EAFE ETF, The Walt Disney Co, iShares MSCI EAFE Small-Cap ETF, Vanguard FTSE Emerging Markets ETF, sells Vanguard Short-Term Bond ETF, SPDR Bloomberg 1-3 Month T-Bill ETF, iShares Core U.S. Aggregate Bond ETF, Alibaba Group Holding, Vanguard Growth ETF during the 3-months ended 2021Q4, according to the most recent filings of the investment company, Navalign, LLC. As of 2021Q4, Navalign, LLC owns 121 stocks with a total value of $251 million. These are the details of the buys and sells. New Purchases: ROK, SCZ, KWEB, EFG, SUSA, Added Positions: SCHP, EMB, IEFA, DIS, VWO, GUNR, BOND, SBUX, RSSS, PYPL, VWOB, DG, LIN, FDX, DAL, WYNN, LUV, MET, BSX, Reduced Positions: BSV, BIL, AGG, BABA, VUG, VIGI, PANW, SPYG, SLYV, IVE, VEA, TSLA, WSM, USRT, GOOGL, IWD, LOW, NVDA, WM, IVV, TEL, V, JPST, ZTS, PAYC, TGT, GNR, IJH, IJS, GS, BLK, CRM, JCI, PFE, PAYX, LMT, MCD, MSFT, COP, CSCO, EL, LLY, KO, JPM, CTAS, SCHW, COF, CVS, CSX, BAC, HON, ARKK, FB, NFLX, PG, VZ, UNP, TMO, AEP, SYY, STZ, AVGO, ORCL, Sold Out: SQ, SPTM, ICLN, BND, Warning! GuruFocus has detected 7 Warning Signs with CVX. Click here to check it out. IEFA 15-Year Financial Data The intrinsic value of IEFA Peter Lynch Chart of IEFA For the details of Navalign, LLC's stock buys and sells, go to https://www.gurufocus.com/guru/navalign%2C+llc/current-portfolio/portfolio These are the top 5 holdings of Navalign, LLC Apple Inc ( AAPL ) - 119,606 shares, 8.48% of the total portfolio. Shares reduced by 0.4% Schwab U.S. Tips ETF ( SCHP ) - 244,702 shares, 6.14% of the total portfolio. Shares added by 5.18% SPDR Portfolio S&P 500 Growth ETF ( SPYG ) - 198,486 shares, 5.74% of the total portfolio. Shares reduced by 1.61% BTC iShares MSCI USA Momentum Factor ETF (MTUM) - 77,914 shares, 5.65% of the total portfolio. Shares reduced by 0.79% Vanguard Real Estate Index Fund ETF (VNQ) - 115,605 shares, 5.35% of the total portfolio. Shares added by 0.74% Story continues New Purchase: Rockwell Automation Inc (ROK) Navalign, LLC initiated holding in Rockwell Automation Inc. The purchase prices were between $292.75 and $351.35, with an estimated average price of $332. The stock is now traded at around $280.270000. The impact to a portfolio due to this purchase was 0.25%. The holding were 1,803 shares as of 2021-12-31. New Purchase: iShares MSCI EAFE Small-Cap ETF (SCZ) Navalign, LLC initiated holding in iShares MSCI EAFE Small-Cap ETF. The purchase prices were between $69.99 and $75.86, with an estimated average price of $73.08. The stock is now traded at around $68.720000. The impact to a portfolio due to this purchase was 0.16%. The holding were 5,360 shares as of 2021-12-31. New Purchase: KraneShares CSI China Internet ETF (KWEB) Navalign, LLC initiated holding in KraneShares CSI China Internet ETF. The purchase prices were between $34.06 and $49.82, with an estimated average price of $43. The stock is now traded at around $35.580000. The impact to a portfolio due to this purchase was 0.11%. The holding were 7,268 shares as of 2021-12-31. New Purchase: MSCI USA ESG Select ETF (SUSA) Navalign, LLC initiated holding in MSCI USA ESG Select ETF. The purchase prices were between $95.5 and $106.67, with an estimated average price of $102.66. The stock is now traded at around $97.170000. The impact to a portfolio due to this purchase was 0.09%. The holding were 2,076 shares as of 2021-12-31. New Purchase: BTC iShares MSCI EAFE Growth ETF (EFG) Navalign, LLC initiated holding in BTC iShares MSCI EAFE Growth ETF. The purchase prices were between $104.29 and $112.61, with an estimated average price of $108.92. The stock is now traded at around $99.040000. The impact to a portfolio due to this purchase was 0.09%. The holding were 1,928 shares as of 2021-12-31. Added: BTC iShares Core MSCI EAFE ETF (IEFA) Navalign, LLC added to a holding in BTC iShares Core MSCI EAFE ETF by 23.94%. The purchase prices were between $71.13 and $76.32, with an estimated average price of $74.06. The stock is now traded at around $71.960000. The impact to a portfolio due to this purchase was 0.19%. The holding were 33,167 shares as of 2021-12-31. Added: The Walt Disney Co (DIS) Navalign, LLC added to a holding in The Walt Disney Co by 186.98%. The purchase prices were between $142.15 and $177.71, with an estimated average price of $161. The stock is now traded at around $142.510000. The impact to a portfolio due to this purchase was 0.18%. The holding were 4,388 shares as of 2021-12-31. Added: Vanguard FTSE Emerging Markets ETF (VWO) Navalign, LLC added to a holding in Vanguard FTSE Emerging Markets ETF by 26.12%. 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 $49.480000. The impact to a portfolio due to this purchase was 0.16%. The holding were 38,849 shares as of 2021-12-31. Added: Research Solutions Inc (RSSS) Navalign, LLC added to a holding in Research Solutions Inc by 105.41%. The purchase prices were between $2.15 and $2.79, with an estimated average price of $2.47. The stock is now traded at around $2.090000. The impact to a portfolio due to this purchase was 0.03%. The holding were 47,800 shares as of 2021-12-31. Sold Out: Block Inc (SQ) Navalign, LLC sold out a holding in Block Inc. The sale prices were between $158.3 and $265.08, with an estimated average price of $215.58. Sold Out: SPDR Portfolio S&P 1500 Composite Stock Market ETF (SPTM) Navalign, LLC sold out a holding in SPDR Portfolio S&P 1500 Composite Stock Market ETF. The sale prices were between $52.79 and $58.74, with an estimated average price of $56.46. Sold Out: iShares S&P Global Clean Energy Index Fund (ICLN) Navalign, LLC sold out a holding in iShares S&P Global Clean Energy Index Fund. The sale prices were between $20.43 and $25.64, with an estimated average price of $22.91. Sold Out: Vanguard Total Bond Market ETF (BND) Navalign, LLC sold out a holding in Vanguard Total Bond Market ETF. The sale prices were between $83.93 and $85.34, with an estimated average price of $84.65. Here is the complete portfolio of Navalign, LLC. Also check out: 1. Navalign, LLC's Undervalued Stocks 2. Navalign, LLC's Top Growth Companies, and 3. Navalign, LLC's High Yield stocks 4. Stocks that Navalign, LLC keeps buyingThis article first appeared on GuruFocus . || Market Wrap: Bitcoin Stabilizes as Altcoins Underperform: Cryptocurrencies are starting to stabilize after declining sharply over the past week. Some indicators show investor sentiment at extremely bearish levels, which typically precede periods of buying activity. Other technical measures , however, suggest choppy price action could persist over the short term. Bitcoin returned to above $35,000 and was up 3% over the past 24 hours, versus a 5% decline in SOL and roughly flat performance in ETH over the same period. Still, it might be too soon to call a price bottom. "I think the determination of a bull/bear market is not as clear as previous cycles, due to the structure of the market changing drastically with institutions entering the space," Marcus Sotiriou, an analyst at the U.K.-based digital asset broker GlobalBlock , wrote in an email to CoinDesk. "Now, it is apparent that bitcoin is in a ranging environment (between $29,000 to $69,000 approximately) rather than a trending environment," Sotiriou wrote. "Bitcoin’s recovery is a long shot as investors are more keen on the price being stabilized for now," Alex Axelrod, founder and CEO of Aximetria, a crypto financial services firm, wrote in an email to CoinDesk. Axelrod is monitoring BTC price levels of between $32,000 and $40,000 for confirmation of a breakdown or breakout. Latest prices ● Bitcoin (BTC): $36925, +4.41% ● Ether (ETH): $2448, +0.88% ● S&P 500 daily close: $4410, +0.28% ● Gold: $1842 per troy ounce, +0.56% ● Ten-year Treasury yield daily close: 1.74% Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found at coindesk.com/indices. The chart below shows the recent increase in bitcoin's spot trading volume. Short-term traders have been active despite the uncertainty regarding future price direction. Story continues Bitcoin's trading volume (CoinDesk) Short-term holders underwater Losses are adding up for most short-term bitcoin holders, according to blockchain data. The chart below indicates that 18% of short-term bitcoin holder supply is at a loss (BTC trading below its average cost basis), which could point to further selling. A similar scenario occurred during the 2018 bear market and subsequent price corrections. Still, long-term bitcoin holders appear unfazed by the recent price dip. "The proportion of long-term holder supply has actually returned to a modest uptrend, which indicates a general unwillingness for this cohort to liquidate," Glassnode, a crypto data firm, wrote in a blog post on Monday. Short-term bitcoin holder supply in profit/loss (Glassnode) Crypto funds attract fresh capital Inflows into digital-asset funds last week – after five straight weeks of outflows – suggest investors were taking advantage of the price dip. Cryptocurrency funds brought in $14.4 million of new investor money during the seven days through Friday, ending a streak of five straight weeks of outflows, according to a report Monday from the digital-asset manager CoinShares. Last week's inflows were led by bitcoin-focused funds, which brought in $13.8 million. Meanwhile, ethereum-focused funds suffered $15.6 million of outflows. Read more here . Altcoin roundup Solana Slides 17% to lead losses amid crypto market plunge: Major cryptocurrencies fell as much as 17% in 24 hours as the crypto market followed a broader decline in U.S. stock index futures on Monday. Last Friday, traders complained about network congestion on Solana and doubted its ability to attract real capital with that kind of meltdown. Solana has been attractive to large trading shops partly because it has prioritized scale. Still, when the network gets overcrowded, it has shown that it can stall out. Read more here . Luxor tries to keep Proof-of-Work Mechanism on Ethereum: Crypto software and services company Luxor is launching an Ethereum mining pool even as it is planning to abolish mining from its network. The company is working with large institutional miners, including Hut 8 and several retail miners in North America, to provide a U.S.-based Ethereum mining pool, the company said in a statement on Monday, according to Aoyon Ashraf. Read more here . OpenSea bug allows attackers to get massive discount on popular NFTs: A bug on the non-fungible tokens (NFT) marketplace OpenSea has allowed at least three attackers to secure massive discounts on several NFTs and make a huge profit. The bug, which was discovered as early as Dec. 31, allowed the attackers to buy NFTs at older, lower prices, and sell them for a hefty profit, according to Eliza Gkritsi. Read more here . Relevant news Coinbase Taps SEC Counsel Thaya Knight to Manage Public Policy Team Bank of America Says US CBDC Would Preserve Dollar’s Status as World’s Reserve Currency Chinese Government Rejects Metaverse Trademark Applications: Report Singapore VC Blockchain Founders Raises $75M for New Fund Other markets Most digital assets in the CoinDesk 20 ended the day lower. Largest gainers: Asset Ticker Returns Sector Cosmos ATOM +17.5% Smart Contract Platform Stellar XLM +10.9% Smart Contract Platform Litecoin LTC +9.8% Currency Largest losers: Asset Ticker Returns Sector Solana SOL −3.0% Smart Contract Platform Filecoin FIL −1.5% Computing Polygon MATIC −1.2% Smart Contract Platform Sector classifications are provided via the Digital Asset Classification Standard (DACS) , developed by CoinDesk Indices to provide a reliable, comprehensive, and standardized classification system for digital assets. The CoinDesk 20 is a ranking of the largest digital assets by volume on trusted exchanges.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: no change || Prices: 41982.93, 39437.46, 38794.97, 38904.01, 37849.66, 39666.75, 39338.79, 41143.93, 40951.38, 41801.16
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2017-06-12]
BTC Price: 2659.63, BTC RSI: 59.22
Gold Price: 1266.10, Gold RSI: 51.70
Oil Price: 46.08, Oil RSI: 38.00
[Random Sample of News (last 60 days)]
Japan, South Korea drive global bitcoin prices as retail investor pile in: HONG KONG (Reuters) - Japanese and South Korean buying helped drive the price of bitcoin to an all-time high this week, with the digital currency more than doubling its value since the start of the year, analysts and market practitioners said on Friday. Frenzied buying as the price peaked at $2,760.10 on Thursday caused website outages on Coinbase, the global bitcoin company that allows consumers to buy and sell bitcoins. The price has since fallen back to $2,632.74. In Japan and South Korea, among the largest markets for bitcoin globally, bitcoin traded at a premium of more than $300 higher above the global average, according to CryptoCompare.com. The rally appeared to have been driven by new buying from smaller retail investors, suggesting bitcoins are increasingly viewed among the general investing public as an alternative asset class much like gold, analysts said. "There were some people that made a big profit in a short time and it got more media attention. Then even people that hadn't known about virtual currencies began coming in, thinking it can be a way to make big money in a short time," said Kim Jin-hyeong, an official at Coinone, a South Korean cryptocurrency services provider. Bobby Lee, CEO of BTCC in Shanghai, one of the world's largest bitcoin exchanges, said the global macroeconomic environment, which has seen sustained low interest rates, was conducive to investments in alternative assets like gold, silver and bitcoin. Investor sentiment has been boosted by recent regulatory developments in the region, with governments in both Japan and Korea introducing frameworks paving the way for bitcoin to be used on a par with national currencies. Last month, the Japanese government recognized bitcoin as legal tender, in a key development that has spawned a number of new bitcoin exchanges in the country, making it more attractive to traditional retail investors. "In the past, bitcoin was traded only by the people who have been dealing with crypto-currencies. This year, regular people are starting to join, making trading so volatile," said one Japan analyst. Story continues Price spikes are also being driven by the scarcity that is built into the global bitcoin market. Bitcoins are created through a computing process known as "mining" but the total number of bitcoins that can ever be created is capped at 21 million globally meaning an inflow of new investors is able to dramatically inflate prices. The average person can easily purchase and trade bitcoins through an online trading platform such as Coinbase using their normal debit or credit card, meaning real money can flood into the currency very quickly. "Retail investors who might otherwise have traded stocks or an exchange traded fund are now trading bitcoins," said Leonhard Weese, president of the Bitcoin Association Hong Kong and a bitcoin investor. "Suddenly everyone is realising that there will only ever be 21 million bitcoins and that this might be there last chance to get into the market - and that is what is leading to these huge price spikes." (Reporting by Michelle Price in Hong Kong, John Ruwitch in Shanghai, Joyce Lee in Seoul and Hideyuki Sano in Tokyo; Editing by Simon Cameron-Moore) || Bitcoin Hits New All-Time High: A year ago, one Bitcoin could be had for about $450. On Thursday, the cryptocurrency peaked at just over $1,340, as measured by theCoindesk price index, before retrenching slightly to $1318 by this morning. That’s still a return of nearly 200%.
Bitcoin has seen a remarkably steady rise since early 2016, fueled by globalregulatory normalization, broad interest in the technology fromenterprises and banks, and rising transaction volumes. Cryptocurrency analysts, according to Coindesk, think the trendwill continue, citing among other factors that most Bitcoin investors are long-term bulls who will take profits conservatively.
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But the very transaction volume that is Bitcoin’s key fundamental also presents a serious medium-term threat, as the system has struggled to keep up. Transaction speeds have become impractical for merchant payments, and fees have risen, making the system less competitive with conventional payment systems such as credit cards. Struggles over how to fix the problem have raisedthe spectre of a network split-though that could, at least theoretically, give holders additional value in a manner akin to a stock split.
Bitcoin had a notable previous peak of around $979 way back in November of 2013 (Coindesk’s number seems conservative here-Coinmarketcaprecords a 2013 peak of $1149). That push was fueled by a wave of mainstream media attention, but prices slumped through 2015 on the realization that the tech’s promise would take some time to fulfill, dipping as low as $204 that August.
This article was originally published on FORTUNE.com || Goldman CEO Lloyd Blankfein tweets the US needs to 'keep up' with China's infrastructure — the day after Trump kicks off infrastructure week: (Lloyd Blankfein.John Moore/Getty Images)
Goldman Sachs CEO Lloyd Blankfein took to Twitter on Tuesday morning to praise the infrastructure of China and suggest the US is falling behind in its maintenance of roads, bridges, and airports.
"Arrived in China, as always impressed by condition of airport, roads, cell service, etc. US needs to invest in infrastructure to keep up!" Blankfein tweeted.
The message is just the third tweet from the Goldman CEO. Blankfeinjoined Twitter on Thursday, criticizing President Donald Trump's decision to remove the US from the Paris climate change agreement.
Interestingly, Blankfein's tweet comes amidTrump's infrastructure push.The president announced a plan to privatize and modernize the US air traffic control system on Monday and will deliver a speech in Ohio highlighting his plans for a $1 trillion investment in infrastructure.
Trump frequently took aim at Goldman Sachs during his campaign, and Blankfein was even featured in an unflattering light in one of Trump's advertisements.
Since the election, Blankfein said he thinks some of Trump's policiescould be good for the US economy, but has alsotaken issue with the travel ban.
Blankfein also isn't the only major bank CEO to point out China's more updated infrastructure.In an interview with Business Insider in May, JPMorgan CEO Jamie Dimon also made a similar point.
"Then there is infrastructure," Dimon said. "You might be shocked to find out, we haven't built a major airport for 20 years. China built 75 in the past 10 years. It takes 10 years to get all the permits to build a bridge today. Ten years? What happened to the good old can-do America?"
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• GOLDMAN SACHS: These 14 underappreciated stocks are set to take off || Bitcoin plunges $200 after cyber attackers demand ransom using the digital currency: Bitcoin plunged from a record high hit last week to below $1,700 after cyber attackers locked up data in 200,000 computers Friday and demanded ransom in the digital currency. "It's a big hit to sentiment," said Brian Kelly, CEO of BKCM. "This is some negative publicity for bitcoin." Bitcoin fell more than $200 from an all-time high of $1,848.75 reached Thursday to a low of $1,644.64 Friday. The cryptocurrency steadied over the weekend and on Monday traded more than 5 percent lower on the day near $1,676.42. One-month bitcoin performance Source: CoinDesk A virus called WannaCry hit 200,000 computers in at least 150 countries on Friday, according to the head of the EU police agency . The hackers demanded, for each computer, $300 in bitcoin within three days to unlock the files and threatened to double the fine after that, before permanently preventing access after seven days. Cybersecurity firm Check Point (NASDAQ: CHKP) warned in a blog post Sunday not to send any funds as no one who had paid had yet reported receiving their files back. Relatively few have paid the ransom. CoinDesk Research Analyst Alex Sunnarborg said Monday that $51,300 in 193 transactions were sent to the three bitcoin addresses connected to the malware. Pickup in Chinese trading volume In addition to profit-taking on the hacking, Kelly attributed bitcoin's decline Monday to a drop in prices on the Hong Kong-based Bitfinex exchange, where prices had been artificially elevated due to withdrawal restrictions. Expectations that those restrictions will soon be lifted brought Bitfinex prices for bitcoin closer to the lower price of other exchanges. "A little bit of a price support has been removed," Kelly said. Chinese trading volume more than doubled its share, from 8.2 percent on May 1 to 22.8 percent Monday, according to analysis from Sunnarborg. Even with the decline of the last few days, the volatile cryptocurrency has nearly doubled in value since the end of March. More From CNBC Dow jumps 100 points as Cisco leads; S&P and Nasdaq hit record highs This is how cybersecurity stocks trade after a big attack Early movers: SYMC, PANW, FEYE, PTHN & more || How Ethereum became the platform of choice for ICOd digital assets: Jason Rowley Contributor Jason Rowley is a venture capital and technology reporter for Crunchbase News . More posts by this contributor Where are all the biotech startups raising? Ride-hailing, bike and scooter companies probably raised less money than you thought For most of the history of blockchain-based currencies and assets, the story has been all about Bitcoin. At a market capitalization of around $40 billion, it remains the most valuable cryptocurrency . But with the rise of a new chain on the -- ahem -- block, namely Ethereum , and new ways to fund the development of new crypto-platforms with ICOs, the narrative is shifting somewhat to the entire cryptographic asset class . Today, lets take a more in-depth look at some of the historical trends in the digital currency space, paying close attention to Ethereum and its role as the platform of choice for new cryptographic assets. The number of new digital assets is on the rise In roughly the past 12 months, the number of cryptocurrencies listed on CoinMarketCap.com , a main reference site for digital asset developers and speculators alike, has increased significantly. Below is a chart compiled from the count of cryptocurrencies listed on historic snapshots of the sites main table starting with the first snapshot on April 28, 2013 (featuring a whopping seven cryptocurrencies) and the most recent snapshot from June 4, 2017 . As of the June 4 snapshot, there were 809 cryptocurrencies and other digital assets listed on the main CoinMarketCap page. As of Monday, June 5, 2017, at around 6:00 PM Central time, there were 857 cryptocurrencies and assets listed on the site. Between January 3, 2016 -- the first snapshot of 2016 -- and June 5, 2017, the number of cryptographic assets listed on CoinMarketCap grew from 551 to 857, an increase of about 56 percent in almost exactly 18 months. As the chart shows, the pace of growth in the number of crypto-backed assets is itself growing. Based only on the listings on CoinMarketCap, 80 percent of the growth in the number of cryptographic assets over the past 18 months took place since January 1, 2017. Story continues The open-source nature of most cryptocurrency systems means that its trivially easy to make copies of the software (or fork its code, in developer parlance), make some modifications to the protocol and release it as a new, wholly separate system. As Bitcoins price began to increase rapidly in the latter half of 2013, the aspiring Satoshi Nakamotos of the world began forking various cryptocurrency protocols to establish their own coins. By 2013, most of the forks were off of Litecoin , which is based on Scrypt. With Bitcoins price spike at the end of 2013, it had become inefficient to mine Bitcoin on commodity hardware (like graphics cards) because the arms race in the Bitcoin ecosystem produced a new breed of specialized hardware . Scrypt, at the time, was still economical to hash on graphics cards, and as Litecoin and a few other Scrypt-based currencies began to appreciate in value, wholly separate cryptocurrencies were forked off of the original protocols to rise anew. Remember the goofy, meme-based Dogecoin ? That was a fork of Litecoin. And in case youre interested in looking at the family tree of cryptocurrencies, MapOfCoins.com produced some really interesting data visualizations. The goal was to create cryptocurrencies as valuable, or at least as lucrative, in the short-run, as Bitcoin. This somewhat haphazard approach of throwing cryptocurrencies against the proverbial wall and hoping that something sticks was certainly effective at expanding the scope of blockchain-based currency systems; however, that alone doesnt explain the appreciating value of the asset class as a whole. ICOs: The newest new thing If the forkable, derivative-by-design nature of cryptocurrencies explains the breadth of the ecosystem, what explains the growth in value? Part of it is surely market speculation, and another part of it is that cryptocurrencies and other blockchain-based assets do have real-world applications today. But another part comes from cryptocurrency entrepreneurs wising up to the fact that their little upstart protocols, in order to be valuable, needed to have an ecosystem built around them. That, of course, takes time and money. There are two ways of approaching this. Previously, its been common practice for cryptocurrency developers to pre-allocate a certain amount of their new cryptocurrency to self-fund development. Once their new cryptocurrency hit an exchange, and thus had a price, this private stash of coins would then have value, enough to sell for Bitcoin or fiat, which could then sustain a project until the ecosystem of wallets and services around their cryptocurrency became self-sustaining and community-driven. Today, though, the fundraising mechanism of choice appears to be the initial coin offering. As Alex Wilhelm explained in an article for TechCrunch : An ICO is a fundraising tool that trades future cryptocoins in exchange for cryptocurrencies of immediate, liquid value. You give the ICO bitcoin or ethereum, and you get some of Billys New Super Great Coin. This is how Ethereums development was funded, by way of a pre-sale of Ether for Bitcoin in July 2014. That pre-sale -- an ICO by another name -- raised some 31,591 BTC , valued at more than $18.4 million at the time. Although the mechanics of ICOs have been in practice for several years, the name and label for initial coin offering events has only gained some currency recently. And the ICO market has really hit a hockey-stick growth trajectory. Based on data obtained on June 2 from the ICO Calendar on TokenMarket.net , the total number of ICOs listed on the site increased sixfold between March and May of this year. But whats fueling this massive growth in ICOs? Chances are, its similar to what drove the massive growth in the number of cryptocurrencies in the market back in 2013. Back then, early speculators in Bitcoin, flush with newfound crypto-fortune, plunged their money back into emerging cryptocurrencies. This was done partially for fun (see Dogecoin and other novelties) but also to chase the same kind of returns they enjoyed from Bitcoin investments. A recent article from CryptoHustle suggests there might be a similar mechanism at play today, but its not Bitcoin millionaires fueling this ICO boom/bubble. Instead, CryptoHustle explains that [t]he ICO mania is likely due to early Ethereum adopters making serious returns after the last bull run. Its blockchains all the way down For now, that bull run has continued unabated. Last week was the first time that Ethereums market capitalization reached half that of Bitcoins, a massive milestone for the relatively new blockchain. What explains the price increase? Speculation and other factors are no doubt at play here too, but its likely the architecture behind Ethereums blockchain system that makes it uniquely valuable, or at least uniquely flexible and extensible. Bitcoin is a relatively bare-bones blockchain system that requires layers of protocols to be built on top of it to make it a usable platform for utilities like smart contracts. Platforms like Counterparty and Omni are both built on the Bitcoin blockchain and have sprouted their own collection of digital assets and services that ride on top of them. Ethereum, on the other hand, was launched with its own scripting language baked in, making it possible to build complex smart contracts, decentralized autonomous organizations (DAOs), decentralized autonomous apps (DApps) and even other cryptocurrencies with relative ease. This ease of development, combined with the rising price of Ether and a desire by early stakeholders to re-invest in the Ethereum ecosystem, has made Ethereum the platform of choice for crypto-asset entrepreneurs -- at least for now. Based on the same data extracted from TokenMarket we looked at earlier, we charted the proportional share of Ethereum-based assets versus all other assets that have either ICOd already or soon will. From zero percent of the monthly asset offerings less than a year ago, to more than half of all the closed or announced ICO events tracked on that page, the growth of Ethereum is impressive. Ethereums flexible, extensible blockchain system makes it relatively easy for developers to build and launch their own DApps, DAOs and crypto-assets. But ease-of-use is not sufficient to explain Ethereums growing traction in the new digital assets space. Its where a disproportionate amount of the money is, too. For these final charts, we extracted the rows from CoinMarketCaps listing of digital assets . The table lists names, blockchain platforms, market capitalizations and prices of some 119 assets. Although roughly a third of the assets listed were built on Ethereum, just over three-quarters of the market value of all of these assets is tied up in assets built on top of the Ethereum platform. At the time of writing, theres approximately $3.4 billion in market value represented by the 119 crypto-assets listed on CoinMarketCaps digital assets page. Of that, around $2.6 billion is tied up in assets based on Ethereum. Just the top four Ethereum-based assets -- Golem , Augur , Basic Attention Tokens and Gnosis -- represent $1.27 billion in market value. This is roughly half of all the value attached to Ethereum-based assets and more than a third of all the market value of crypto-backed assets and tokens in general. The value of crypto-assets listed on CoinMarketCap is divided between those built on Omni and those built on Counterparty. Ethereum is the platform of choice because it offers a blockchain platform with a built-in abstraction layer, which serves to unify the ecosystem. Ethereum offers the tantalizing promise of one chain to rule them all, or at least one chain to act as the foundation. Ether traders, entrepreneurs and developers alike are keen to let a thousand tokens, DApps and DAOs bloom because, although each of these assets is distinct, their roots run deep and ultimately back to Ethereum. || Bitcoin Hits New All-Time High: A year ago, one Bitcoin could be had for about $450. On Thursday, the cryptocurrency peaked at just over $1,340, as measured by theCoindesk price index, before retrenching slightly to $1318 by this morning. That’s still a return of nearly 200%.
Bitcoin has seen a remarkably steady rise since early 2016, fueled by globalregulatory normalization, broad interest in the technology fromenterprises and banks, and rising transaction volumes. Cryptocurrency analysts, according to Coindesk, think the trendwill continue, citing among other factors that most Bitcoin investors are long-term bulls who will take profits conservatively.
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But the very transaction volume that is Bitcoin’s key fundamental also presents a serious medium-term threat, as the system has struggled to keep up. Transaction speeds have become impractical for merchant payments, and fees have risen, making the system less competitive with conventional payment systems such as credit cards. Struggles over how to fix the problem have raisedthe spectre of a network split-though that could, at least theoretically, give holders additional value in a manner akin to a stock split.
Bitcoin had a notable previous peak of around $979 way back in November of 2013 (Coindesk’s number seems conservative here-Coinmarketcaprecords a 2013 peak of $1149). That push was fueled by a wave of mainstream media attention, but prices slumped through 2015 on the realization that the tech’s promise would take some time to fulfill, dipping as low as $204 that August.
This article was originally published on FORTUNE.com || Hackers mint crypto-currency with technique in global 'ransomware' attack: By Joseph Menn SAN FRANCISCO (Reuters) - A computer virus that exploits the same vulnerability as the global "ransomware" attack has latched on to more than 200,000 computers and begun manufacturing digital currency, experts said Tuesday. The development adds to the dangers exposed by the WannaCry ransomware and provides another piece of evidence that a North Korea-linked hacking group may be behind the attacks. WannaCry, developed in part with hacking techniques that were either stolen or leaked from the U.S. National Security Agency, has infected more than 300,000 computers since Friday, locking up their data and demanding a ransom payment to release it. Researchers at security firm Proofpoint said the related attack, which installs a currency miner that generates digital cash, began infecting machines in late April or early May but had not been previously discovered because it allows computers to operate while creating the digital cash in the background. Proofpoint executive Ryan Kalember said the authors may have earned more than $1 million, far more than has been generated by the WannaCry attack. Like WannaCry, the program attacks via a flaw in Microsoft Corp's Windows software. That hole has been patched in newer versions of Windows, though not all companies and individuals have installed the patches. Digital currencies based on a technology known as blockchain operate by enabling the creation of new currency in exchange for solving complex math problems. Digital "miners" run specially configured computers to solve the problems and generate currency, whose value ultimate fluctuates according to market demand. Bitcoin is by far the largest such currency, but the new mining program is not aimed at Bitcoin. Rather it targeted a newer digital currency, called Monero, that experts say has been pursued recently by North Korean-linked hackers. North Korea has attracted attention in the WannaCry case for a number of reasons, including the fact that early versions of the WannaCry code used some programming lines that had previously been spotted in attacks by Lazarus Group, a hacking group associated with North Korea. Security researchers and U.S. intelligence officials have cautioned that such evidence is not conclusive, and the investigation is in its early stages. In early April, security firm Kaspersky Lab said that a wing of Lazarus devoted to financial gain had installed software to mine Monero on a server in Europe. A new campaign to mine the same currency, using the same Windows weakness as WannaCry, could be coincidence, or it could suggest that North Korea was responsible for both the ransomware and the currency mining. Kalember said he believes the similarities in the European case, WannaCry and the miner were "more than coincidence." "It's a really strong overlap," he said. "It's not like you see Monero miners all over the world." The North Korean mission to the United Nations could not be reached for comment, while the FBI declined to comment. (Fixes spelling of digital currency in paragraphs 11 and 14 to Monero not Moreno.) (Reporting by Joseph Menn; Editing by Jonathan Weber and Cynthia Osterman) || This Trump ETF Trade Completely Unwinds: Swirling controversy about President Trump's conversations with ex-FBI director James Comey sent stocks and interest rates spiraling lower this week. Many of the "Trump trades" that performed so well in the wake of the president's surprising victory on Nov. 8 reversed course, erasing a chunk of their post-election moves. One of those trades is ahead of them all in its fade. Not only has it reversed course, but the U.S. dollar has completely erased all of its gains since Election Day. On Wednesday, the widely followed U.S. Dollar Index fell for its fifth-straight session, bottoming out at 97.43, the lowest point since the election. The buck is now down 4.5% year-to-date, while the largest ETF tracking the currency, the $659 million PowerShares DB US Dollar Index Bullish Fund (UUP) , is down 4.8%. YTD Return For US Dollar Index & UUP Pro-Growth Agenda Pushed Back It's not hard to figure out why the greenback is falling. The latest allegations against Trump, regardless of whether they are true or false, will likely push back his pro-growth economic agenda. Health care reform, tax reform, deregulation and infrastructure spending all become more difficult when the president is having to defend himself on a near-daily basis. Less growth translates into a weaker dollar. That's without even accounting for the effect on the Fed's tightening schedule. If the central bank slows down its rate hikes in light of the latest events, that's another big weight on the U.S. currency. Overseas Outlook Brightens All that plays into why the dollar fell most recently. But the greenback has been falling steadily for much of the year, ever since peaking at 14-year highs during the first few trading sessions of January. Since then, the outlook for overseas economies has brightened considerably, giving a boost to nondollar currencies at the expense of the buck. In the case of Europe, expectations are rising that the economy has improved enough for the European Central Bank to put together an outline for winding down its 60 billion/month quantitative easing program as early as June. Meanwhile, data from the International Monetary Fund indicates emerging markets could see their fastest economic growth in four years in 2017. Story continues That's all positive for dollar rivals and the ETFs that track them . Just to name a few, the $274 million CurrencyShares Euro Trust (FXE) returned 5.6% so far this year; the $258 million CurrencyShares British Pound Sterling Trust (FXB) returned 5%; and the $47 million WisdomTree Emerging Currency Strategy Fund (CEW) returned 6.3%. Familiar Pattern Where does the dollar go from here? That's hard to say; currency markets are some of the most difficult to forecast, as evidenced by how ill-timed the bullish dollar calls at the beginning of the year now look. The current downtrend in the buck could reverse in a flash if Trump can show he's an effective president, and he along with the Republican Congress are able to pass their pro-growth economic measures. Moreover, a look at the chart for the U.S. Dollar Index reveals that the currency hasn't yet broken any critical levels. The index has been essentially range-bound between 93 and 100 since early 2015, with a brief breakout above the top of that range in the aftermath of the election. US Dollar Index In fact, the dollar is following the same pattern from 2015 and 2016, when it peaked early in the year, sold off during the middle of the year and then staged a comeback late in the year. So far, this year fits that mold perfectly, though of course, eventually the pattern will break. Contact Sumit Roy at [email protected] . Recommended Stories This Trump ETF Trade Completely Unwinds 3 ETFs For Surprise Drop In The Dollar Emerging Market Local Debt ETFs Shine Big Bitcoin ETF Decision Coming Today, Or Maybe Not The Most Interesting New Gold ETF Since GLD Permalink | © Copyright 2017 ETF.com. All rights reserved || Bitcoin exchange Coinbase seeks new funds at $1 billion valuation: Wall Street Journal: (Reuters) - Bitcoin exchange Coinbase Inc is in talks with potential investors on a new round of funding at a valuation of more than $1 billion, the Wall Street Journal reported on Friday.
It is not clear which investors are committing to the round, which was described as targeting around $100 million or more, the Journal reported, citing people familiar with the matter. (http://on.wsj.com/2rtMkk8)
That would represent the biggest funding round on record for venture-backed bitcoin companies, the report said.
A Coinbase spokesman declined to comment when contacted by Reuters.
Coinbase, the world's largest bitcoin company, has seen heavy traffic and trading on its platform in recent weeks as bitcoin reached all-time highs.
Demand for crypto-assets has soared with the creation of new tokens to raise funding for start-ups using blockchain technology.
Coinbase said in January it raised $75 million from several major financial institutions including the New York Stock Exchange, USAA Bank and Spanish banking group BBVA. (http://reut.rs/2qKUcRm)
Earlier this year, Coinbase received a virtual currency and money transmitter license from the New York Department of Financial Services.
(Reporting by Bhanu Pratap in Bengaluru; Editing by Sai Sachin Ravikumar) || Massive ransomware cyber-attack hits nearly 100 countries around the world: More than 45,000 attacks recorded in countries including the UK, Russia, India and China may have originated with theft of ‘cyber weapons’ from the NSA Global cyber-attack – live updates ‘ Accidental hero’ finds kill switch to stop spread The attack hit England’s National Health Service (NHS) on Friday, locking staff out of their computers and forcing some hospitals to divert patients. Photograph: Carl Court/Getty Images A ransomware cyber-attack that may have originated from the theft of “cyber weapons” linked to the US government has hobbled hospitals in England and spread to countries across the world. Security researchers with Kaspersky Lab have recorded more than 45,000 attacks in 99 countries, including the UK, Russia, Ukraine, India, China, Italy, and Egypt. In Spain, major companies including telecommunications firm Telefónica were infected. By Friday evening, the ransomware had spread to the United States and South America, though Europe and Russia remained the hardest hit, according to security researchers Malware Hunter Team. The Russian interior ministry says about 1,000 computers have been affected. Markus Jakobsson, chief scientist with security firm Agari, said that the attack was “scattershot” rather than targeted. “It’s a very broad spread,” Jakobsson said, noting that the ransom demand is “relatively small”. “This is not an attack that was meant for large institutions. It was meant for anyone who got it.” Fresh IDR based heatmap for WanaCrypt0r 2.0 ransomware (WCry/WannaCry). Also follow @MalwareTechBlog 's tracker: https://t.co/mjFwsT3JzH pic.twitter.com/SPeZfBpckm — MalwareHunterTeam (@malwrhunterteam) May 12, 2017 The malware was made available online on 14 April through a dump by a group called Shadow Brokers, which claimed last year to have stolen a cache of “cyber weapons” from the National Security Agency (NSA). At the time, there was skepticism about whether the group was exaggerating the scale of its hack. Story continues On Twitter, whistleblower Edward Snowden blamed the NSA. “If @ NSAGov had privately disclosed the flaw used to attack hospitals when they *found* it, not when they lost it, this may not have happened,” he said . “It’s very easy for someone to say that, but the reality is the US government isn’t the only one that has a stockpile of exploits they are leveraging to protect the nation,” said Jay Kaplan, CEO of Synack, who formerly worked at the NSA. “It’s this constant tug of war. Do you let intelligence agencies continue to take advantage of vulnerabilities to fight terrorists or do you give it to the vendors and fix them?” The NSA is among many government agencies around the world to collect cyber weapons and vulnerabilities in popular operating systems and software so they can use them to carry out intelligence gathering or engage in cyberwarfare. The agency did not immediately respond to a request for comment. Ransomware is a type of malware that encrypts a user’s data, then demands payment in exchange for unlocking the data. This attack used malicious software called “WanaCrypt0r 2.0” or WannaCry , that exploits a vulnerability in Windows. Microsoft released a patch (a software update that fixes the problem) for the flaw in March, but computers that have not installed the security update remain vulnerable. “This was eminently predictable in lots of ways,” said Ryan Kalember from cybersecurity firm Proofpoint. “As soon as the Shadow Brokers dump came out everyone [in the security industry] realized that a lot of people wouldn’t be able to install a patch, especially if they used an operating system like Windows XP [which many NHS computers still use], for which there is no patch.” The ransomware demands users pay $300 worth of cryptocurrency Bitcoin to retrieve their files, though it warns that the “payment will be raised” after a certain amount of time. Translations of the ransom message in 28 languages are included. The malware spreads through email. “Attacks with language support show a progressive increase of the threat level,” Jakobsson said. The attack hit England’s National Health Service (NHS) on Friday, locking staff out of their computers and forcing some hospitals to divert patients. “The attack against the NHS demonstrates that cyber-attacks can quite literally have life and death consequences,” said Mike Viscuso, chief techology officer of security firm Carbon Black. “When patients’ lives are at stake, there is no time for finger pointing but this attack serves as an additional clarion call that healthcare organizations must make cybersecurity a priority, lest they encounter a scenario where lives are risked.” Ransomware attacks are on the rise. Security company SonicWall, which studies cyberthreats, saw ransomware attacks rise 167 times in 2016 compared to 2015. “Ransomware attacks everyone, but industry verticals that rely on legacy systems are especially vulnerable,” said Dmitriy Ayrapetov, executive director at SonicWall. A Los Angeles hospital paid $17,000 in bitcoin to ransomware hackers last year, after a cyber-attack locked doctors and nurses out of their computer system for days. 36,000 detections of #WannaCry (aka #WanaCypt0r aka #WCry ) #ransomware so far. Russia, Ukraine, and Taiwan leading. This is huge. pic.twitter.com/EaZcaxPta4 — Jakub Kroustek (@JakubKroustek) May 12, 2017 Jakobsson said that the concentration of the attack in Russia suggested that the attack originated in Russia. Since the malware spreads by email, the level of penetration in Russia could be a sign that the criminals had access to a large database of Russian email addresses. However, Jakobsson warned that the origin of the attack remains unconfirmed.
[Random Sample of Social Media Buzz (last 60 days)]
В Одессе появился банкомат для Bitcoin - 09.05.2017, 07:00 - Новости на http://odessa.net.ua http://odessa.net.ua/news/v-odesse-pojavilsja-bankomat-dlja-bitcoin … || 1 BTC Price: BTC-e 2735.259 USD Bitstamp 2834.00 USD Coinbase 2835.38 USD #btc #bitcoin 2017-06-09 16:30 pic.twitter.com/442j89yVc4 || #Monacoin 16円→[Zaif] -円→[もなとれ]
#NEM #XEM 12.6円↓[Zaif]
#Bitcoin 199,595円↓[Zaif]
05/09 13:00
口座開設はこちらで！ https://goo.gl/31dyoO || $BTCUSD ― BTC/USD: Bitcoin Prices Hits $1200 as Momentum Returns http://dlvr.it/Nw3g9j via → http://goo.gl/nnFPIZ || Current value of DOGE in BTC: Vircurex: 0.00000042 -- Volume: 200654.54 Today's trend: stable at 05/12/17 00:55 || Buy Bitcoin With PayPal! Also with CC, paysafecard, Skrill, OKPAY https://www.virwox.com?r=4db29virwox.com/?r=4db29 #btc #bitcoin 18 pic.twitter.com/aywamJBr3m || Currently one #bitcoin = $2,273.00 USD || @infernopool1 Unbreakablecoin, shows as 0.00 BTC || Current value of DOGE in BTC: Vircurex: 0.00000032 -- Volume: 256848.8989 Today's trend: stable at 04/16/17 00:55 || If I had a US bitcoin business, I would definitely consider setting up shop in Illinois.
|
Trend: no change || Prices: 2717.02, 2506.37, 2464.58, 2518.56, 2655.88, 2548.29, 2589.60, 2721.79, 2689.10, 2705.41
|
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 for 2019-11-21]
BTC Price: 7642.75, BTC RSI: 28.30
Gold Price: 1463.10, Gold RSI: 42.07
Oil Price: 58.58, Oil RSI: 60.20
[Random Sample of News (last 60 days)]
PODCAST: ‘Let’s Talk Bitcoin!’ Hosts Discuss Libra, China and Cargo Cults: The best Sundays are for long reads and deep conversations.
This week marks the debut of the CoinDesk Podcast Network. By next year, you’ll be able to find new episodes on a variety of topics every day of the week. For now, every Sunday, CoinDesk will play host to deep, nuanced discussions about complex issues with the cast of theLet’s Talk Bitcoin!show.
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.
Related:PODCAST: Meltem Demirors on the 3 Things Bitcoin Represents
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.
• Disruptive Technology vs. Disruptive Topology
• Libra’s Challenges, China’s Tightrope and an AOL Moment?
• Permission or Anonymity and the Three-Body Problem
• Cargo Cults and DLT Mockingbirds
• Patriotism on the Blockchain
• Bubbles, Naked Shorts and a Helpful Government
Find past episodeshere.
[email protected] any questions, comments or suggested discussion topics.
Sponsors:Purse.io,Brave.com&eToro.com
Related:PODCAST: Josh Brown on Why Bitcoin Is Like the 1800s Railroad Boom
Hosts:Adam B. Levine,Andreas M. Antonopoulos,Stephanie Murphy,Jonathan Mohan
Producer:Adam B. Levine
Editors:Jonas Huck, Adam B. Levine
Music:Jared Rubens,General Fuzz
Andreas M. Antonopoulosis 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.
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-upThe 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. Levinejoined CoinDesk in 2019 as editor of our audio and podcasts division. Previously, Adam founded the long-runningLet’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 withTokenMarkets.comand media with Token.fm.
Stephanie Murphy, Ph.D.is a scientist, passionate libertarian, prolific voice actor and long-time radio host. Uniquely among theLet’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 Mohanis 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 of 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
• PODCAST: Kaiko’s Ambre Soubiran on Bitcoin’s ‘Intrinsic Value’
• PODCAST: Ikigai’s Travis Kling on Why Bitcoin Is a ‘Baby X-Man’ || Major Korean Banks Back Bitcoin Startup Coinplug’s $6.4 Million Round: Coinplug, one of the earliest bitcoin exchange, wallet and payment startups in South Korea, has raised 7.5 billion won, or $6.4 million, from venture arms of major local financial institutions.
The startup said in a release on Thursday the funding came from KB Investment, a VC unit of the KB Financial Group, one of the largest banking institutions in Korea; Mirae Asset Venture Investment, a listed subsidiary of investment bank and securities broker Mirae Asset Daewoo; as well as private equity and VC firm Smilegate Investment.
With the new equity financing, Coinplug said it would be focusing on decentralized identification technologies, an area that has drawn significantinterestfrom the Korean government and major banks in the country.
Related:SBI Reveals Joint Blockchain Remittance Venture With South Korean Startup
Founded in 2013, Coinplug operates a crypto exchange with a mobile wallet and bitcoin pre-paid card services available at convenient stores in the country. The new funding is described as a Series B2 round and comes four years after itraised$5 million in the Series B round, also backed by Mirae Asset Venture Investment and KB Investment at the time.
One investor mentioned Coinplug’s participation inBusan‘s efforts to become a major blockchain hub as one of the reasons for their participation in the financing,accordingto a CoinDesk Korea report.
Coinplug works with awide rangeof financial institutions, including Shinhan Bank, Hyundai Card, KB Card and KB Kookmin Bank, and is activelyengagedwith a number of government entities, including the Korea Internet Services Agency (KISA) and Korea Post, and with the Busan City Blockchain De-regulatory Zone.
Coinplug has so far filed 262 patent applications and received 98 granted patents, according to the statement.
Related:Korea’s Central Bank Considers ‘Supernode’ for Blockchain Oversight
Korean won banknoteimage via Shutterstock
• Korean Credit Card Giant to Integrate Blockchain Identity Service
• Korean Bank Partners With Bitcoin Startup Circle || A single whale on Bitfinex likely manipulated bitcoins historic surge in 2017, academics say: A single market whale on cryptocurrency exchange Bitfinex likely manipulated bitcoins historic surge of over 2,000% in 2017, according to two U.S. academics. John Griffin, a professor at the University of Texas and Amin Shams, an assistant professor at Ohio State University, have jointly updated a paper they first published in 2018, saying that one entity on Bitfinex moved bitcoin's prices in 2017. Griffin and Shams did not name the entity. The updated, peer-reviewed paper , shared with Bloomberg and set to be published in a forthcoming Journal of Finance, examined stablecoin tether (USDT) and bitcoin (BTC) transactions from March 1, 2017 to March 31, 2018, concluding that BTC purchases on Bitfinex increased whenever bitcoins value fell by certain increments. Our results suggest instead of thousands of investors moving the price of Bitcoin, its just one large one, Griffin told Bloomberg, adding: Years from now, people will be surprised to learn investors handed over billions to people they didnt know and who faced little oversight. Bitfinex general counsel Stuart Hoegner rejected the claims, saying that the paper is foundationally flawed because it is based on an insufficient data set. This is a transparent attempt to use the semblance of academia for a mercenary money grab. Updates or not, the paper lacks academic rigor, Hoegner said. Last month, Bitfinex and Tether both issued separate statements , saying that they are aware of an unpublished and non-peer reviewed paper falsely positing that Tether issuances are responsible for manipulating the cryptocurrency market. However, the updated paper is notably peer-reviewed. In their first paper , Griffin and Shams said that tether was used both to stabilize and manipulate bitcoin prices in 2017. At the time also, Bitfinex rejected the claims, with its CEO JL van der Velde saying: Bitfinex nor Tether is, or has ever, engaged in any sort of market or price manipulation. || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 15/11/19: Bitcoin Cash ABC slid by 2.40% on Thursday. Following on from a 1.58% decline on Wednesday, Bitcoin Cash ABC ended the day at $277.60.
It was a mixed start to the day, with Bitcoin Cash ABC rising to an early morning intraday high $284.91 before hitting reverse.
Falling short of the first major resistance level at $292.66, Bitcoin Cash ABC slid to a late morning intraday low $272.74.
Bitcoin Cash ABC fell through the first major support level at $280.77 and the 23.6% FIB of $273.
Steering clear of the second major support level at $272.12, Bitcoin Cash ABC broke back through the 23.6% FIB going into the afternoon.
Through the 2ndhalf of the day, Bitcoin Cash ABC managed to briefly visit $279 levels before falling back.
Support at the 23.6% FIB of $273 prevented a more material sell-off in the 2ndhalf of the day.
At the time of writing, Bitcoin Cash ABC was down by 0.99% to $274.85. A bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $275.07 to a low $273.73.
Bitcoin Cash ABC left the major support and resistance levels untested, whilst coming within range of the 23.6% FIB of $273.
For the day ahead, a move through to $278.50 levels would support a run at the first major resistance level at $284.09.
Bitcoin Cash ABC would need the support of the broader market, however, to break back through to $280 levels.
Barring a broad-based crypto rebound, the first major resistance level and Thursday’s high $284.91 would likely limit any upside.
Failure to move through to $278.50 levels could see Bitcoin Cash ABC slide deeper into the red. A fall back through the 23.6% FIB of $273 would bring the first major support level at $271.92 into play.
Barring an extended sell-off, however, Bitcoin Cash ABC should steer clear of the second major support level at $266.25.
Litecoin slid by 3.17% on Thursday. Following on from a 0.93% fall on Wednesday, Litecoin ended the day at $58.91.
It was a particularly bearish start to the day. Litecoin tumbled from an early morning intraday high $60.98 to a late morning intraday low $58.26.
Steering clear of the major resistance levels, Litecoin fell through the first major resistance level at $60.00 and second major support level at $59.15.
Finding support going into the afternoon, Litecoin broke back through the second major resistance level at $59.15 before sliding back to sub-$59 levels.
At the time of writing, Litecoin was down by 0.19% to $58.80. Another bearish start to the day saw Litecoin fall from an early morning high $58.93 to a low $58.52 before finding support.
Litecoin left the major support and resistance levels untested early on.
For the day ahead, Litecoin would need to move through to $59.40 levels to support a run at the first major resistance level at $60.51.
Support from the broader market would be needed, however, for Litecoin to break back through to $60 levels.
Barring a broad-based crypto rally, the first major resistance level and Thursday’s high $60.98 would likely cap any upside.
Failure to move through to $59.40 levels could see Litecoin spend a 5thconsecutive day in the red.
A fall back through to $58.50 levels would bring the first major support level at $57.79 into play.
Barring a crypto meltdown, however, Litecoin should steer clear of sub-$57 support levels.
Ripple’s XRP fell by 1.53% on Thursday. Following a 0.08% gain from Wednesday, Ripple’s XRP ended the day at $0.26869.
A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.27466 before succumbing to market forces.
Falling short of the first major resistance level at $0.2756, Ripple’s XRP slid to a late morning intraday low $0.26387.
Ripple’s XRP fell through the first major support level at $0.2706 and the second major support level at $0.2682.
Going into the 2ndhalf of the day, Ripple’s XRP broke back through the second major support level to $0.2690 levels.
Relatively range-bound through the latter part of the day, the second major support level limited the losses on the day.
At the time of writing, Ripple’s XRP was down by 1.48% to $0.26472. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.26963 to a low $0.26404.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead, a move back through to $0.2690 levels would support a run at the first major resistance level at $0.2743.
Ripple’s XRP would need support from the broader market, however, to break back through to $0.27 levels.
Barring a broad-based crypto rebound, Ripple’s XRP would likely fall short of $0.28 levels for a 4thconsecutive day.
Failure to move through to $0.2690 levels could see Ripple’s XRP take a bigger hit on the day.
A fall back through the morning low $0.26387 would bring the first major support level at $0.2635 into play.
In the event of an extended sell-off, the second major support level at $0.2583 would likely be tested.
Please let us know what you think in the comments below
Thanks, Bob
Thisarticlewas originally posted on FX Empire
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• GBP/USD, EUR/GBP, USD/CAD – Limited Movement in the Markets || Global Protests Reveal Bitcoin’s Limitations: • Protests in Hong Kong, Lebanon and Iran have forced cypherpunks to test censorship-resistant technologies in the wild.
• But protesters on the ground found they lack internet access during times of civil unrest.
• Bitcoin has mainly proven useful for receiving value from abroad to hold and privately store.
• Sources in Lebanon and Iran said there is scant liquidity, and since they are cut off from global exchange platforms, digital assets are rarely useful as currency.
In the face of censorship and isolation from their countries’ financial and communication systems, protesters across the globe are testing out bitcoin and other decentralized technologies – then promptly discovering their limitations.
Take Hong Hong, for example, whereprotests begansix months ago against China’s infringements on civil liberties and ramped up on Monday atHong Kong Polytechnic Universityas police detained1,000protesters.
The former British colony would seem the perfect test case for an open-access financial system resistant to government interference. But that may not yet bet the case.
Related:Bitcoin Price Dips to Six-Month Low of $7,000
Take for example,HSBC Holdingsreportedly shutting down the bank account ofSpark Alliance HK, a local nonprofit focused on civic engagement, because it was associated with protests and the bank was allegedly pressured by Beijing. The move reminded protesters and donors of the need to transact privately, one protestor, who spoke on condition of anonymity, told CoinDesk. Nonprofits like HKMap Live and Hong Kong Free Press already accept bitcoin donations.
However, the Hong Kong protester added, “there is no [internet] connection in the protest area, no matter which service provider you used,” and protesters are generally not clear on how bitcoin would be used by individuals during a time of civil unrest. It is mostly useful for receiving donations from abroad that don’t require prompt liquidity.
Plus, he said protesters who tried mesh-network devices, which basically bounce a message or transaction across a web of devices until it finds a device with internet access, found they were “not useful for a confrontational situation.” Although many protesters use Telegram because it allows chatting without revealing the users’ phone numbers, he said tools that rely on mobile data providers offer limited functionality in times of turmoil.
As with protests in the Middle East, sources in Hong Kong said bitcoin and related technologies are not ready for usage in chaotic environments because the movement is still nascent and money generally relies on network effects. At this point, censorship-resistant technology can still be censored as long as it remains too niche.
Related:Maker of Wasabi Bitcoin Wallet Valued at $7.5M in First Equity Round
“People are moving their money abroad more,” said one Chinese bitcoiner with family in Hong Kong, who asked that her name be withheld for safety. “But it’s from bank to bank, like Hong Kong accounts to Singapore.”
She added it’s harder to get goods and services, including food imported from mainland China and physical cash, in part because19 percentof Hong Kong bank branches were closed this week due to the chaos.
Further complicating matters, online discourse in general has been further restricted as the protests rage on.
Hong Kong’sHigh Courtissued an interim injunction in October forbidding people from publishing or circulating information that promotes “the use or threat of violence … on any internet-based platform or medium.” Then on Monday, China’s mainland firewall banned theweb browser Kuniao, which was often used to access global social media platforms.
Meanwhile in Iran, Revolutionary Guard crackdowns on nationwide protests against rising gas prices and political corruptionreportedlyleft 200 civilians dead and thousands injured.
The Iranian government shut down globalinternet accessfor nearly five days (locally hosted websites and services are still operational), and only started to establishlimited connectivityagain on Thursday.
One Tehran-based bitcoiner, who requested anonymity for safety, was arrested at a protest for taking photos then promptly released. Police searched his phone, including social chats, apps and photos, he said. So he now routinely deletes Twitter direct messages from other bitcoiners.
This bitcoiner has a personal server abroad, and was able to jerry-rig limited internet access through it. According toBitnodes, there are just six bitcoin nodes operating in Iran.
“I made a secure encryption protocol between data centers and a mobile network,” he said. “I bypassed several servers and networks to reach the edge servers. … Now I have a 100Mbps connection.”
Despite regaining some level of connectivity, he said his bitcoin wallet apps and mobile apps like Telegram are still blocked. It’s especially difficult for Iranians to access foreign servers and infrastructure because many companies ban Iranians for fear ofU.S. sanctions.
“We’re locked up in a prison that the U.S. and Iranian governments have built for us,” he said, adding theBlockstream bitcoin satelliteand mesh network technologies aren’t useful when you’re in a massive internet desert. “In situations where we don’t have physical connection none of these fucking technologies help us,” he said.
After all, even if he got a transaction through, there are too few tech-savvy recipients to make digital transactions a worthwhile use of his time.
“We need a simple way to connect our devices together,” the anonymous protester said. “We need secure and accessible communication for people.”
This point highlights yet another lesson learned by protestors in Lebanon: Black markets are vulnerable to infiltration from within.
On Tuesday, Lebanese protesters took over Beirut’sNejmeh Squareand stopped parliament from meeting, spurred by a local banking crisis and government corruption.
Lebanesebitcoin trades, predominantly facilitated through WhatsApp, Telegram and Facebook, continue normally with a slight premium. Trading is hampered, according to such group chats, by limited cash access from local banks and financial institutions.
After a week of shuttering branches, thebanks reopenedthis week with a $1,000 withdrawal limit. On Thursday, protestersreportedlyentered the central bank to demonstrate that these measures are perceived as the government doing too little, too late to quell the currency crisis.
As one anonymous bitcoin trader said: “There’s no access to liquidity.”
Two weeks ago, a few bitcoin traders found hackers had accessed their mobile phones and stolen cryptocurrency. Local social groups brimmed with concerns about which anonymous trader accounts could be trusted. As reported by the local outletVDL News, the alleged hacker may have knowledge of the victims’ location and access to a network run by the telecommunications company Touch, because the hack involved intercepting messages at the service level. (Two exchanges associated with the alleged victims denied any hack to their systems on this date.)
“They can hijack WhatsApp, Telegram [accounts],” one alleged hacking victim said. “That means you can’t trust your mobile identity. … They [hackers] can create trouble between parties, fake accounts and impersonation.”
So this hack served as a wake-up call to the local community. In short, there is no substitute for in-person networking and long-standing relationships. Without them, the privacy created by avatars is also a liability.
In all three contexts, current bitcoin infrastructure was found to be insufficient.
While this may be expected of a nascent technology, across user groups the common need was for accessibility.
Both the Chinese and Iranian bitcoiners who spoke to CoinDesk pointed out that most people don’t have the skills, nor the desire, to go “the anarchist route,” as the Chinese bitcoiner put it. The Hong Kong protester added that “most protesters don’t know how to make use of bitcoin in this [activist] context.”
When it’s available, Hong Kong civilians still rely on traditional financial institutions, the Chinese bitcoiner said.LocalBitcoinsdata on peer-to-peer bitcoin trades in Hong Kong andIrandon’t show any relative spikes, reflecting the same narrative from over-the-counter Lebansese traders. Many bitcoiners prefer to stay deep underground these days, another Tehran-based bitcoiner said, fearful of attracting the attention of authorities on the hunt for people to suspect and arrest.
Scattered and fragmented communities offer scant liquidity on the ground. Broader adoption leads to better usability and privacy, even if only by helping bitcoiners get lost in the crowd.
After all, if bitcoin were more popular in Tehran then users might not fear that usage would attract attention. A third anonymous Iranian source, currently abroad yet deeply involved with the Tehran bitcoin community, said there is a significant legal threat to locals helping neighbors bypass internet censorship.
“People who have servers (hosting websites, etc) in Iran have received SMS mentioning that hosting, selling or distributing any VPN service or proxy in order to access filtered websites (such as Telegram) is illegal … encouraging them to tell on those that are doing so,” he said. “BTS tower SMS-CB technology has been used to send SMS to people in certain areas to leave.”
In these cases, bitcoin has proven most useful to store wealth or receive funds from abroad. Transacting locally is risky. One Lebanses bitcoiner who thwarted a hacker said that luckily he stores half of his savings in a bitcoin hardware wallet, which kept it safe.
“I find it ironic that the first world talks about how bitcoin is freedom to the unbanked, but the unbanked have no way to get bitcoin,” he said. “Bitcoin feels like a novelty at times, or a privilege.”
In fact, Lebanese entrepreneur Dany Moussa told CoinDesk his homeland is predominantly a cash society, so even credit and debit cards might have a learning curve for some. It should also be noted that chatter in Lebanese groups shows hardware wallets don’t always work as designed, so users often need to help each other fix them.
“I think we are still far from serious adoption of crypto in Lebanon for many reasons,” Moussa said. “Lebanese [people] do not have access to exchanges due to restrictions adopted by [Lebanon’s central bank] and lack of coverage from [outside] exchanges.”
When global crypto exchanges and service providers ban a population due to sanctions or compliance concerns, as they have with Iranians and Lebanese people to some extent, ties to global communities can provide a lifeline. Across the board, sources said that connectivity and accessibility on the ground were the two fundamental challenges.
Money is, after all, primarily a social construct. The dream of a lone anarchist striking out only works if his goal is to flee, not stay.
“Consider two or three people who can communicate with the Blockstream satellites, what would be the benefit [of using bitcoin]?” the Tehran-based bitcoiner said. “Not all people are hackers and network experts. … When we talk about a payment network it must have a significant number of members.”
Hong Kong protestimage via Shutterstock
• Bitcoin Slips to One-Month Price Lows Below $8,000
• Promoting a New Token? Satoshi’s Treasure Wants You to Gamify It || CME Reveals Details of Upcoming Bitcoin Options Contracts: CME Group has just published the specifications for its upcoming bitcoin options contracts.
The Chicago exchangerevealed Wednesdaythat each contract would be based on one of CME’s bitcoin futures contracts (which in turn consists of five bitcoin); the contracts would be quoted in U.S. dollars per bitcoin with a tick size of $25 (or $5 for reduced tick sizes); and would trade from 5:00 P.M. Central Time Sunday to 4:00 P.M. Central Time Friday.
An FAQ addedthat the options will settle into one futures contract when trading ends.
Related:Binance CEO: ‘Russia Is Our Key Market’
CME first announced its intention to launch options contracts on top of its existing bitcoin futures productlast month, targeting a launch date sometime in the first quarter of 2020, pending regulatory approval.
CME’s bitcoin options will be similar to the options contracts it offers on top of other futures products, he said, and offers traders a way of hedging their risks against spot and futures positions.
CME published the specifications days after competitor Bakkt announced it would begin offering a similar product on its own futures contracts beginning in December 2019.
Bakkt announced last week that it would begin offering options on its physically-settled bitcoin futures contracts beginning Dec. 9. Bakkt CEO Kelly Loefflersaid in a blog postthat the Intercontinental Exchange’s subsidiary had received customer feedback asking for the product.
Related:Bakkt to Launch Crypto ‘Consumer App’ in First Half of 2020
In a September interview, CME global head of equity index and alternative investment products Tim McCourt said the new product was also inspired by customer feedback.
“Where we’re at in the process, we’ve done extensive validation with members and after this announcement we’ll continue to engage with market participants who have input on how the product should be designed and …. We’ll continue to make sure it meets their needs,” he said.
“I think the response has been strong, we’re excited about bringing to market. It’s not too dissimilar to the futures when we are engaging with customers … The fact that options will be listed on a regulated venue and will be centrally cleared continue to resonate with the marketplace.”
Tim McCourt image via CoinDesk archives
• Bakkt to Launch Options on Its Bitcoin Futures Dec. 9
• Asset Manager Stone Ridge Files SEC Prospectus for Bitcoin Futures Fund || You Can Now Get a Masters in Blockchain From a School in (Where Else?) Malta: Malta, the Blockchain Island in the Mediterranean, has a government authority to certify distributed ledger platforms, regulations to manage smart contracts and a framework for launching ICOs. Now it has a blockchain masters program, too. The University of Maltas Masters Blockchain and Distributed Ledger Technology began its inaugural semester this October, with around 35 students enrolled in the island nations only DLT-specific masters program one of the few such programs around the world. Related: Binance and Polychain Are Funding a Crypto-Friendly Bank in Malta It is the latest charge in Maltas islandwide embrace of just about everything blockchain, an effort now well into its second year. When, in April 2017, Prime Minister Joseph Muscat unveiled plans for Malta to become aglobal trail-blazer in blockchain technology, it stood in stark contrast to most world governments reactions to DLT, many of whom were lagging then as now in how to proceed. But the Maltese moved quickly. Lawmakers started passing blockchain-friendly laws and high-profile industry players including Binance, the worlds largest crypto exchange by volume, and OKEx- announced they would relocate to the island. In less than a year the plan was paying dividends. Crypto firms were coming ashore and more businesses on the way. Related: Man Takes Bitcoin Miner Seller to Tribunal Over Electricity Bill and Wins Masters Program Director Joshua Ellul, who also heads Maltas Digital Innovation Authority, told CoinDesk that in addition to the 15 companies who have already reached out to his DLT students, theres high demand for government-run blockchain contracts, projects and initiatives. Plenty of jobs all looking for highly-trained, blockchain-fluent applicants. And this year, here you are, Ellul told a crowd of students at Maltas annual DELTA Summit, where, on Oct. 3, he kicked off the University of Maltas DLT Masters program. The future Blockchain and DLT specialists who will lead and drive the Blockchain Island forward. Story continues With a little help from the government, of course. An industry disconnect Last year the Maltese government granted 300,000 euro to fund program scholarships. It also had a hand in its development, Ellul said. The course trains students in blockchain law and regulation, business and finance, and information and communications technology. Students follow their focus concentration for three full semesters while gaining exposure to the two other fields. Ellul told CoinDesk this academic diversity prioritizes a broad base of knowledge. Blockchain professionals were experts in sector of the industry, he said, but few could tie the other strands together. Coders knew little about legal issues; lawyers knew less about launching a business; entrepreneurs just didnt know how to code. We noticed a huge problem between techies and lawyers and business professionals, said Ellul. There was a communication disconnect between us. That gave him an idea: We thought: this would be the perfect place to have a masters, one serving the multidisciplinary purposes of the different specializations. The program was developed by Ellul and Gordon Pace, a professor in the University of Maltas computer science department and a member of its Centre for Distributed Ledger Technologies, which Ellul heads. Maltas Centre for DLT houses Blockchain Masters program. It became a proving ground and think tank in the Masters development as faculty from across the university gave their perspective on what should be included. Pace told CoinDesk that he travelled around Europe speaking to field experts: We had a feel about what they needed, what type of experts they needed. Right from the very beginning the idea was to have a broad, yet deep program, Pace said. Lawyers who code The masters program now gives students a thorough framework in their target discipline with a smattering of useful if hyper-specific tools in other blockchain fields. Pace, who spent much of his career working on software assurance techniques before entering crypto academia to study smart contracts, will lecture students of all backgrounds on smart contracts a technological advancement he called a time bomb waiting to explode in value. In December he will begin teaching lawyers and businesspeople how to program smart contracts. I hope their reaction wont be similar to yours, Pace told this reporter, who has tried, and failed, to learn coding languages in the past. But bridging that specialization divide is one of Paces favorite academic endeavors. And while the program might make smart contract gurus of the ICT-track students, it will also work to improve the knowledge of those less technically-minded students required to take the course, he said. I think that the idea they become literate in the technology more than masters is the key. Non-ICT students who spoke to CoinDesk for this article agree. Jessica Borg, a graduate of the University of Maltas law and business programs who returned to study blockchain regulation part-time, will be taking the class in coming semesters. Borg is a corporate and financial services manager at Grant Thornton Malta, where she said she has seen the impact of the governments wooing of blockchain firms. Weve seen a lot of volume and a lot of interest in businesses looking to take advantage of Maltas regulatory landscape. Borg said. Thats partly why she enrolled in the course: I thought this was spot-on the next step in my regulatory development. Evolving technologies Ellul, the program director, acknowledged that it can be difficult to design and launch a masters program for a field so rapidly evolving, in business practices, regulation and technology. What students learn one year might quickly pass into irrelevance the next. But then again, most every tech-minded program faces this challenge; and Ellul said that University of Maltas will change over time to meet the problems of the day. Hes more interested in the caliber of multidisciplinary student the program might one day make. Over time, perhaps, we should start to consider training a hybrid programmer-lawyer: a law-grammer or lets say a law-veloper, Ellul told CoinDesk. Its still early days to see whether we can achieve that. Image courtesy of University of Malta Related Stories Steve Wozniak Has Joined an Energy-Focused Blockchain Startup in Malta Malta to Register All Rent Contracts on Blockchain || Cardano’s Charles Hoskinson: A Soul in Hell?: In his Longmont, Colorado office, there’s an odd painting on the wall that Charles Hoskinson faces. It depicts a Roman man sitting in a beautiful garden. What’s striking is the look of utter torment on the Roman's face, even as he sits in a such a lovely place. In many ways that’s an apt metaphor for Hoskinson, the man who founded the new, long-anticipated and potentially revolutionary crypto platform Cardano . “I’m kind of polarizing. People either like me or they hate me. There’s not a lot of people in between,” he says. True enough. As the creator of Cardano, Hoskinson, 32, is revered and celebrated as a serial entrepreneur and polymath. But as a co-creator of Ethereum, the second-most valuable blockchain, he’s been derided as an incompetent , a turncoat , a thin-skinned crybaby and worse . Hoskinson has spent the past five years building Cardano, the 13th largest cryptocurrency by market cap, working relentlessly to upend and displace Ethereum, the second largest. Now, with the launch of “Shelley”—the decentralized element of the project’s extensive roadmap— staking is about to come to Cardano. That means token holders will be able to gain rewards by pooling their resources to validate the Cardano ledger. A new era is beginning for Hoskinson. But if all goes according to plan, it'll be even more polarizing. An investment bank in sky Born in Hawaii, Hoskinson comes from a family of doctors. He eschewed medicine for math, but bailed before completing his PhD at the University of Colorado at Boulder. Despite this, he’s a big fan of the rigorous academic, but painstakingly slow, research process. In 2008, the same year Satoshi’s Bitcoin paper was published, Hoskinson joined Ron Paul’s presidential campaign. He was enthralled with Austrian economics and theories of money, which argue that a monetary system based on fiat money is inherently unstable. “When Bitcoin came out, it was like the spiritual successor to what Ron Paul was talking about,” he said. Story continues A lot of people hate me in the Ethereum ecosystem. They say I'm a monster. But it wasn’t until 2013 that he quit his day job, “lived like a pauper” and “went “100 percent crypto, with no revenue.” Fellow Bitcoin enthusiast, Anthony Di Iorio introduced Hoskinson to Vitalik Buterin’s white paper on Ethereum later that year. Hoskinson had plenty of questions. So Di Iorio and Buterin invited him to one of the early meetings, when the project was just getting started. “At that point, it was only four people in the meeting and I was the fifth person,” he said. Hoskinson jumped in with both feet. He helped design Ethereum’s ICO, and briefly became its CEO, making the pivotal decision to register the foundation in Switzerland. Vitalik Buterin (left) and Charles Hoskinson (right) in 2014. SOURCE: Flickr But differences about the strategy the project should follow led to a falling out over whether Ethereum should be run as a non-profit organization or not. Hoskinson favored a for-profit approach, and in June 2015, he decided to quit. (Though others say he was fired.) A Japanese version of Ethereum Ethereum, of course, kicked off a new wave in blockchain innovation, leading to the ICO and token boom. “The market just went batshit crazy, and Ethereum was used to fund all manner of crazy ideas and became like an ‘investment bank in the sky,’” Hoskinson said. He took a sabbatical after leaving the project, but was soon approached by former Ethereum colleague Jeremy Wood about a new project called IOHK, (short for “Input Output Hong Kong,” which is where Hoskinson was living at the time.) The idea was to build cryptocurrencies and blockchains for corporations, government entities and academic institutions—to go even further than Ethereum in scalability and security. Cardano came about after IOHK clients proposed that the developer build “a Japanese version of Ethereum,” Hoskinson later said . Initially, Cardano focused on the Japanese market and aimed at building “something that was the intersection of commerce, computation and compliance,” he said. Cardano became IOHK’s key project, a public blockchain and smart-contract platform that hosts the ADA cryptocurrency. Hoskinson says that Cardano is an improvement over first-generation platforms such Bitcoin, and second-generation blockchains such as Ethereum. He calls it a “third-generation, smart-contract platform and cryptocurrency,” which, he claims, is more rigorously researched, tested, secure and scalable than the competition. Cardano raised a respectable $62 million in its ICO, in early 2017. It was marketed as an “investment to retire on,” and sold primarily to Japanese investors; in fact, 95 percent of the buyers were Japanese. It’s expanded its base, since then, to include developers and corporate partners all around the globe. “Two years from now I think everyone will define me by Cardano,” Hoskinson says. “It actually does the things that we’ve always wanted to do in cryptocurrencies, which is build a financial operating system for people who don’t have one, one that actually can compete with a global financial system.” In a few weeks, a so-called “incentivized test net” will roll out, which will enable Cardano token holders to stake and earn rewards, while developers tweak the test net. Then comes the real fun. Charles Hoskinson marshals the Cardano community at the platform's anniversary celebrations. SOURCE: Decrypt. Shelley is planned as a series of releases and is designed to incrementally bring complete decentralization to Cardano. Eventually, the network will be 250 times more decentralized than other blockchain networks and, “once turned on, it will run like Bitcoin,” says Hoskinson. That means Cardano is designed to run forever and without censorship or intervention. Shelley’s bleeding edge rests on a next generation protocol named Hydra. Its development is nearing completion, and it will ensure that multiple versions of the consensus algorithm can run in parallel, so that you get many times more performance, David Esser, Cardano’s senior project manager told Decrypt . Soon after—or even before—Shelley’s main net launch early next year, Cardano plans to add smart contracts enabling decentralized applications, a development phase it calls “Goguen.” Will Cardano’s simple smart contracts start a stampede? A fourth phase, “Basho,” aims to dramatically increase scalability, enabling interoperability and upwards of 10,000 transactions per second. (In contrast to Ethereum’s 15 transactions per second.) And the final phase, “Voltaire,” is dedicated to on-chain governance, and is expected to be completed by the end of 2020. The tortoise and the hare Cardano has often been compared to a tortoise , struggling to keep up with the rapid development at other blockchain platforms such as EOS or Tron. But development is proceeding to schedule, said Hoskinson. Test net rewards will be transferable to the mainnet when it launches next year, giving people a convincing near-term reason to buy and hold Cardano’s ADA coins, according to crypto ratings firm, Weiss. “Cardano, has always impressed us with the high quality of all the elements that contribute to a robust proof-of-stake, blockchain-based ledger,” Juan Villaverde, who leads the Weiss Ratings team of analysts, told Decrypt . The Weiss review called out the caliber of Cardano’s team and the rigorous nature of its research. Indeed, the body of academic research on the Cardano protocol, “Ouroboros Hydra,” is now nearly complete. Ouroboros Hydra “is the capstone, and it's all done,” said Hoskinson. Charles Hoskinson with Cardano ambassador Vasil St. David (center) planting commemorative trees in Plovdiv, Bulgaria. SOURCE: Decrypt He’s most proud of the work his team has done on the proof-of-stake protocol, which he claims will put Cardano ahead of Ethereum, which is racing toward the same goal. Many people believe that a functioning proof of stake protocol will make blockchain networks more secure while eliminating the consumption of electrical power as the underlying staking mechanism. Buterin started grappling with Casper, his own proof-of-stake solution, in 2014, well before Cardano. Hoskinson claims that, even though Cardano started later, it has produced more objective results that make it further ahead. Hoskinson says that the full Cardano network, with proof-of-stake and all the trimmings, will launch before the end of 2020. “We were the first to prove that proof-of-stake can have the same security properties as Bitcoin,” he says. Ethereum has adopted a “serpentine” approach, he asserts, and is “trying to reinvent the whole world.” Asked for comment, Buterin told Decrypt that it wasn’t about being the first to launch a proof-of-stake (PoS) network, which actually has happened in 2013 . “The goals of modern PoS protocols are much higher now,” he said. “Maybe Ouroboros will launch some form of PoS first, but that is unremarkable.” The Ethereum co-inventor also challenged Hoskinson’s claims that Cardano is technologically superior: "Last time I looked at Ouroboros, it does not even try to deliver the things that Casper has tried so hard to deliver. Finality, fast confirmations, etc.” It’s Complicated Though it’s been five years since he left, Hoskinson’s relationship with Ethereum is still complicated. He grabs every opportunity to contrast the rigorous and methodical pace of development on Cardano, with Ethereum, which he believes has been hijacked by what he says is a cult of personality that surrounds Buterin. “In general, I don’t have good relationships when there’s a competitive reason not to, for example with Ethereum or EOS,” he admits. But, much as he likes to slam Ethereum, he dislikes talking about his early involvement. He’s been asked—repeatedly—to pore over every small, granular detail, he said. Three books have now been written on the incendiary story of its founding, and two have been optioned as movies. The cause of much of the bad blood that remains, according to Hoskinson, is actually his championing of Ethereum Classic—the cryptocurrency arising from Ethereum’s DAO hack and subsequent fork. “A lot of people hate me in the Ethereum ecosystem. They say I'm a monster, that the only reason I got involved was because I wanted to hurt Ethereum,” he said. “They said that I'm the DAO hacker!” In his defense, Hoskinson contends that Ethereum and Ethereum Classic are non-competitive and can co-exist and even complement each other. And, two years after the fork, that view now finally appears to be gaining momentum . A Soul in Hell Thanks to progress with “Shelley,” the decentralized element of Cardano, an air of achievement hangs over the 100-odd Cardano community members standing on the grounds of the Agricultural University of Plovdiv, Bulgaria, for Cardano’s second anniversary celebration. Hoskinson, wearing a Cardano anniversary t-shirt and his customary cowboy boots, is on his knees, planting a Gingko tree. Cardano’s self-described “community sage,” the Rasputin look-a-like Vasil St. Dabov, helps him. “A society grows great when old men plant trees in whose shade they know they shall never sit,” quotes Hoskinson, from a Greek proverb. Soon after the “Voltaire,” self-governance phase of Cardano is rolled out at the end of next year, Hoskinson is planning to take a back seat. The eye catching painting in Hoskinson's Longmont, Colorado office. SOURCE: Cardano He says he intends to hand over the reins for overseeing the development of Cardano to the Switzerland-based Cardano Foundation. Earlier this year, a new chairman, Nathan Kaiser, was appointed. His job has been to build an interim board, after a power struggle led to a falling out between Hoskinson and the previous chair, Michael Parsons. There’s still a lot of work ahead. “And that's the point—why we're here planting trees,” said Hoskinson. “It takes a long time to grow these systems and build these systems up—20, 30, 40 years.” Planting trees, the beauty of the garden—it calls to mind the picture that sits on the wall of Hoskinson’s office. It turns out it’s a copy of a painting, done at the turn of the 20th century, by Evelyn De Morgan, called, A Soul in Hell . According to its description , forwarded to us by Hoskinson’s office: “This man, surrounded by all that is beautiful and desirable, by the force of his own dark spirit dwells in a Hell of his own making.” Perhaps with the advent of Cardano, Hoskinson will at last make his peace with the world. || Last Bitcoin ETF Hope Standing: Longtime readers of ETF.com will recognize the name Matt Hougan as one of the founding employees as well as past CEO of ETF.com. He has since moved on, serving as CEO of Inside ETFs and managing director of global finance at Informa, and currently is managing director and head of research for San Francisco-based Bitwise Investments, a digital asset management firm.
Bitwisehas a bitcoin ETF proposal before the SEC, awaiting approval that could come as soon as Oct. 14. ETF.com spoke with Hougan to discuss why Bitwise’s bitcoin ETF is different from other proposals, which he thinks will make the difference in getting it approved.
ETF.com: The SEC is expected to approve or reject your bitcoin ETF on Oct. 14. Tell me what’s going on in the regulatory pipeline.
Matt Hougan:Bitwise has filed two ETF applications. One was for an index-based ETF tracking our Bitwise 10 Large Cap Crypto Index. You can think of that as the 10 largest assets by market capitalization in crypto, which is kind of equivalent to the S&P 500. It captures about 80% of the market.
We also have another application that, like the Winklevoss application, is just going to hold bitcoin. It’s called the Bitwise Bitcoin ETF and is physically backed, and it proposes to hold bitcoin with an insured regulated third-party custodian.
We haven't named that custodian, but there are about a handful of custodians that meet those two qualifications. They have insurance in place, and they're regulated as a state trust charter. It’s fair to say that we’re not actively pursuing the index-based application. While that’s filed, we’re not actively pursuing or doing research on it.
The one we’re pursuing aggressively is the Bitwise Bitcoin ETF application. We’ve had five or six meetings with the SEC staff and the commissioners about that application. We’ve submitted over 500 pages of research in support of that application, then more than 50 comment letters around that application. This comes to a head on Oct. 14.
ETF.com: What’s the difference between your bitcoin ETF and the proposed (and rejected) Winklevoss physically backed bitcoin ETF, “COIN”? How do you see yours jumping through a hoop that others didn’t?(See:SEC Rejects Winklevoss Bitcoin ETF)
Hougan:There are three differences. The first difference is that Gemini was going to use itself as custodian. Gemini is an insured regulated custodian, so they would meet our definition. But we’re using a third-party custodian. That’s one difference.
The other more important difference is that they were pricing their bitcoin based on the price on the Gemini exchange. Gemini is one of the smaller bitcoin exchanges. They were using that as the sole pricing source. We proposed to use an aggregated price from all of the significant spot exchanges in the world. Part of the SEC’s concern surrounds the potential for market manipulation, both around the price and of the underlying markets. We believe using all of the available exchanges is helpful for that.
But the biggest difference is that the market has matured significantly in the past two years. Two years ago, there were no insured regulated custodians. And now there are more than a handful. That’s not anything we did.
Another example is that two years ago, the markets were relatively inefficient, with large arbitrage opportunities, and uneven pricing. But now market makers have entered the market in the past year. The futures market has become truly significant. And as a result, it’s just a much different market today.
The passage of time and better structuring have contributed to separate our proposal. I guess there's another piece. The growth of the CME bitcoin futures market is truly significant. One of the arguments we’ve made is that the CME market is now doing $200-million-plus a day on average volume. We think it satisfies that requirement. Now we’ll see if we've convinced the SEC. But that’s one of the reasons we think we have a better shot than the Winklevoss proposal did. It’s that the market has become much more institutional in nature.
ETF.com: You argue better market stability, but over the last few days, we’ve seen a complete crater in bitcoin prices, for whatever reason. If I’m this skeptical regulator, and I look at price more than other elements, these last few days has to give me pause.
Hougan:One of the hallmarks of the bitcoin market is that it’s historically been extremely volatile. We expect it to continue to be volatile in the future. I know you were talking about a specific move. But if you look back over history, there've been six periods where the bitcoin market has gone down more than 70%, which is a lot. Now, of course, over that entire period, the market’s up about 1,000,000%, literally. But it has periods where it falls down a lot.
I actually don’t know that the SEC is worried about the fact that the asset can be volatile. We have plenty of ETFs tracking volatile markets that exist for a while. Volatility is a volatile market. Nature gas is a volatile market.
What they're really worried about is, are the underlying markets being manipulated without a surveillance sharing agreement? Bitcoin trades on a mix of regulated and unregulated exchanges. And whether it goes up or down shouldn’t really matter to the application. What matters is whether that’s a fair and reasonable price, or whether it’s being manipulated by the market.
We’ve made the argument that of course Bitcoin is volatile. There's no reward without risk. But what we were trying to argue is that the underlying markets, despite that volatility, are functioning well. There are arbitrages in place; it’s a two-sided market. And it’s an increasingly regulated market that can support ETFs.
ETF.com: Who would buy your bitcoin ETF in the first month?
Hougan:We’re out there right now, talking to financial advisors and family offices and small-sized institutions. Many of whom would love to have a safe, secure way to provide exposure to some or all of their clients to digital assets. Right now, they're not really set up.
The thing about the bitcoin market is, there are great ways for retail investors to invest today, through Coinbase and other services that are perfect for small investments. There are good ways for large institutional investors to invest in private funds, like the one Bitwise and other people offer. There's not a great way that fits into the workflow easily for financial advisors to invest.
There is a real market for this. We can help financial advisors’ portfolio problems, finding noncorrelated source of returns.
ETF.com: What is the expense ratio for this ETF?
Hougan:Our bitcoin fund, which is a private fund, has an expense ratio of 1% for the institutional share class, and 1.5% for the retail share class. You can use those numbers as a stalking horse. But we haven't published the expense ratio yet.
One important thing to keep in mind is that every new asset class that’s been opened up in ETFs has taken a long time. It took multiple years to get bond ETFs over the line. It took about $12 million in legal fees to get theSPDR Gold Trust (GLD)over the line. We just had nontransparent active ETFs—which were filed when you and I were children—get approved. It takes a long time. The SEC does due diligence. They're doing that. And honestly, they’ve been asking great questions.
Contact Drew Voros [email protected]
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Permalink| © Copyright 2019ETF.com.All rights reserved || Gartner shows it’s a long, long road for blockchain technology: According to the Gartner Hype Cycle, blockchain isn’t going through its best moment. In fact, the exact words used last week were “sliding into the trough of disillusionment”. Ouch. That’s hardly encouraging for the blockchain and crypto pioneers who’ve been clamouring for mass adoption. If Gartner is right, most blockchain technologies are still between five to 10 years away from having any meaningful impact. What is the Gartner Hype Cycle? Enterprise research firm Gartner is well-known for its informative reports and predictions across industries and business verticals. The company developed the Gartner Hype Cycle in a bid to analyse new technologies and try to distinguish marketing and “hype” from actual use cases and progress. Gartner hype cycle Gartner hype cycle When it comes to blockchain technology, as far as the company is concerned, there’s still a long way to go. In fact, if you check out the cycle above, you’ll see how blockchain was thrust into the public domain and then incessantly hyped by the media using words like ‘immutable’, ‘decentralised’, and ‘secure’. The whole ICO phase took on a life of its own. Blockchain technology could purportedly resolve any problem from running a country to healing the sick. However, currently, according to the research firm, blockchain is struggling to keep up with our high expectations. In fact, it is sliding into the “trough of disillusionment”. Many blockchain projects are failing to deliver Of course, the multiple scams and mismanaged projects that came out of the ICO craze would eventually lead the regulators to quash it. The crypto winter of 2018 and the billions of dollars stolen in hacks and fraud were enough to weed out most of the serious projects from the flashes in the pan. However, as we head towards the end of another full year, some of the larger projects and companies are starting to struggle. Clearly, interest in blockchain is waning as many experiments and ideas have failed to come to fruition. Moreover, pioneering market entrants like Bakkt proved that institutional interest simply isn’t as big as we thought it was. It’s almost close to being non-existent, in fact. Story continues Facebook is pushing the envelope and that’s making regulators uncomfortable. Whether due to a lack of ability to perform or a lack of permission to go forward, big businesses are dropping out one by one. Pioneering blockchains like NEO and now Ethereum have outwardly recognised that they cannot scale. Causing quite the stir amid the crypto community last week was the narrative coming from DevCon that Ethereum was moving to Ethereum 2.0. An entirely new blockchain with a new token. Given that ETH 1.0 has turned out to be a scam, advertised repeatedly as scalable by people like you who knew it wasn't, why shouldn't an article lead with the obvious question: Will ETH 2.0 also be a scam? — Peter Todd (@peterktodd) October 9, 2019 This lead to Ethereum being called many things from a “scam” by Bitcoin maximalist Peter Todd to misleading. Its creators insisted that they always knew Etheruem could not scale and that Etehreum 1.0 would be migrated over to Ethereum 2.0, as we saw earlier this year when NEO admitted that version 3.0 would be an entirely new blockchain. With the realisation that the technology isn’t as scalable as we thought, it’s probably of little surprise that it should be languishing at its lowest point right now. All that goes up must come down – and vice versa “Blockchain technologies have not yet lived up to the hype and most enterprise blockchain projects are stuck in experimentation mode”, commented Avivah Litan, an analyst and research vice president at Gartner. “Blockchain is not yet enabling a digital business revolution across business ecosystems and may not until at least 2028 when Gartner expects blockchain to become fully scalable technically and operationally”, she added. The good news for blockchain technology is that it appears to have hit its lowest point. This means that the only way from here is up. Five to 10 years may seem like a long time, but Facebook is already 15 years old. Just look how far that has come. From providing an easier way to keep tabs on our acquaintances to aiming at creating its own currency. Moreover, Gartner says that many current developments could serve to change the pattern. The company believes that blockchain platforms will achieve scalability by around 2023. They should also be interoperable and support smart contract portability and cross-chain functionality. “Altogether, these technology advances will take us much closer to mainstream blockchain and the decentralised web, also known as Web 3.0”, Litan explained. Gartner has been examining blockchain technology through the Gartner Hype Cycle for a few years now. The firm had already advised that interest was beginning to cool off last year. This is nothing new for new technologies, however, and it’s natural that it will take some time before the infrastructure, capability, and mindsets are in the right place for it to have a meaningful impact on our lives. The post Gartner shows it’s a long, long road for blockchain technology appeared first on Coin Rivet .
[Random Sample of Social Media Buzz (last 60 days)]
@Asa_Crypto DCA 3 quarters of it into btc and for the rest have some fun. Do not listen to any moron trying to shill you alts. This is what I would do. What you do is up to you of course. 😁 || Spring Is Coming – #Blockchain # ...
#Bitcoin #Burda #Conference #Courage #Crypto #Cryptocurrencies #Design #Digital #Entrepreneur #Innovation #JoeLubin #Kongreßhalle #Life #MikeButcher #Munich #Optimism #Technology #Videos #Vlog
https://t.co/3s3kjo6Lm9
. https://t.co/8BE4dA1A77 || Animoca Brands to Develop Blockchain-Based MotoGP Manager Game #animoca #blockchain #artificialintelligence #dornasports #goldmansachs #bitsmart https://t.co/XYsOQcDViP || WTC/BTC
TP1: 990
TP2:1070 https://t.co/gsmcnwuxPt || Bitcoin Lacks Direction after Weekend Gains; Correction Incoming? https://t.co/AwHHp7W0gs || 10/30 01:10 現在のビットコインの価格
BTC/JPY ask: 1,017,261 / bid: 1,017,000
・sp: 261 ・ps: -0.131% || Swiss Exchange SIX Lists Joint Bitcoin and Ether Exchange-Traded Product #ethereum #cryptocurrency #eth https://t.co/BykxITqMM7 || Als de #spaarrente negatief wordt voldoet ons geld niet meer als store of value. Tijd voor een beter geld. #bitcoin #btc #btc || ..a renewable energy source is a goodStart ... for now .. :) || https://t.co/T7XlWX17XE #bitcoinaustralia #stratis #btc #investing #perth #Russia #ethereum #technews #sandeigo #houston #uk #tech #reuters #cannabis #tucson #platform #cryptocurrency #deals #TokenSales #Moscow #seattle #bonus #funds #india #sanFransico #baltimore #sale #korea
|
Trend: up || Prices: 7296.58, 7397.80, 7047.92, 7146.13, 7218.37, 7531.66, 7463.11, 7761.24, 7569.63, 7424.29
|
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)]
DeFi Startups Built on Compound Weigh What to Do With $200 COMP Tokens: The token for the decentralized finance (DeFi) app Compound,COMP, hit an all-time high of $231 on Friday. Now startups built on top of the lending protocol are considering what to do about this sudden windfall.
Compound wasbuilt from the beginningas a simple marketplace for placing collateral and borrowing money. The intention was always to make it easy for other companies to build products atop it, and several have.
But some startups are in a situation where they have control of COMP earned from funds entrusted to them by their customers. The question then becomes: Do they return that COMP to users immediately or use it to lock in other benefits? And if they do redistribute it now, do they simply give users COMP or convert it first to a more familiar form of crypto?
Related:Compound Tops MakerDAO, Now Has the Most Value Staked in DeFi
CoinDesk checked in with companies built on top of the Ethereum-based application this week to find out their plans for using the fresh COMP tokens earned by users of their platforms.
While the startups we spoke with were still exploring which course of action would be best, they generally agreed COMP’s rapid ascent is a positive moment for the DeFi industry.
Read more:A Coinbase Pro Listing and Other Eye-Opening Data Points on Compound’s Surge in Demand
Dharma CEO Nadav Hollander explained the implications ofopening up governanceof Compound for a company like his. In an email to CoinDesk, he wrote, “It’s like being a bank and getting to vote at Federal Reserve meetings – only any user of the protocol can do it.”
Related:Market Wrap: Bitcoin Spot Volumes Are Weak While Options and DeFi Strengthen
In fact, Dharma has already been actively taking part. It hasa proposal in nowto increase the amount of interest earned on tether (USDT) deposits on Compound. Such deposits go into the reserve pool, a sort of security blanket that each liquidity pool creates for itself. As a governance token, COMP is used to stake a person’s or entity’s vote, either for or against.
According toDeFi Pulse, Compound’s total value locked (TVL) now stands at $418 million, $80 million short of overtakingMakerDAO, the dominant protocol in DeFi. Compound has added over $300 million in liquidity since COMP distribution began on June 15.
The COMP token is trading at $218 as of this writing,according to CoinGecko, for a market cap – separate from the Compound protocol’s TVL – of roughly $570 million. The market cap of Maker’s governance token,MKR, currently sits at $466 million.
Meanwhile, Dharma is still sorting out how to handle COMP that its users are earning.
Dharmais a smart-wallet app that lets users deposit dai to earn interest easily. It also allows them to easily pay each other in dai, much like Venmo. While dai has not been the most popular asset on Compound lately (USDC and USDT have), each depositor and borrower on Dharma still earns some COMP each day as it gets distributed.
Read more:Crypto Lender Dharma Pivots to Stablecoin Savings Accounts
Dharma’s COO has spoken about the options that Dharma is consideringon Twitter. It is considering holding onto the COMP for now so that Dharma can be a stronger voter in governance, but it may also directly distribute the COMP to users or convert it to dai and then distribute it.
Forstertweeted, “We’ve been discussing this internally and in our Discord channel. Haven’t reached a conclusion yet.”
PoolTogether is a lossless lottery. Users deposit their funds with PoolTogether in order to win a chance at winning all the interest earned by everyone else who did the same.
PoolTogether has a weeklydai pool and a daily USDCpool, but their returns have been hammered by the way liquidity mining has changed the market.
“PoolTogether contracts are earning COMP and currently, the value of that COMP is actually greater than the value of the interest accruing to the prizes!,” Leighton Cusack, the founder, told CoinDesk in an email. “However, when we designed the protocol we did not have COMP in mind so there is not a mechanism right now to re-distribute it to depositors or include it in the prize.”
Read more:Coinbase Pumps $1.1M USDC Into DeFi Sites Uniswap and PoolTogether
Cusacklet his community knowthat this was a question under consideration the week before COMP started to be distributed.
Like Dharma, it’s considering holding onto COMP so it can vote the tokens in the interest of PoolTogether users. That said, Cusack also wrote, “The most likely scenario though is that we’ll include the accrued COMP in the prize distribution. So longer-term this will be great for users as the value of the COMP will supercharge the prize size.”
Stakedis a startup that takes care of the hard part if users have a token on which they can earn a yield. It even has a product that will move assets around to optimize their income, calledRAY, for Robo Advisor for Yield.
Staked CEO Tim Ogilvie told CoinDesk, “Any COMP earned is distributed to depositors. Next week we’re going to update our algorithm so the yield attributable to Compound includes both interest and the value of the COMP earned.”
LinenandArgentare both wallet applications that make it easy to move assets into Compound and earn interest. Because all deposits in Compound are tokenized, this is simple to do in a non-custodial fashion; if your wallet can hold USDC it should be able to hold cUSDC (the tokenized version of a deposit of USDC on Compound).
Argent postedon its blog Wednesdaythat its users would be able to keep track of COMP earnings right in their wallet and use it like any other token.
Read more:Paradigm Leads $12M Round for DeFi-Friendly Wallet Startup
Linen founder and CEO Vitaly Bahachuk told CoinDesk via email that it would do the same. He wrote, “Linen app is powered by a user self-custody wallet and Linen does not have access to members’ assets including access to COMP. We will build an in-app interface where our members can claim their COMP and use COMP however they chose to.”
One choice they might make, HODL the COMP and delegate to Linen to vote their interests. Linen has declared itselfas a delegatefor voting on Compound protocol questions.
Opyn has also declared itself asa Compound delegate.
The company built a decentralizedprotocol for hedging riskon ERC-20 tokens. While using Opyn itself does not create a way that users would earn COMP, its application may be more valuable in a highly volatile market like the one created by COMP’s release into the wild.
Read more:Options Protocol Brings ‘Insurance’ to DeFi Deposits on Compound
When Opyn creates a hedge, it also tokenizes it. So if a user buys a hedge againstETHdropping they get oETH. With so many users converting USDT into Compound deposit tokens, cUSDT, the ever-lingering concerns about tether have become salient to Opyn’s community.
“We’ve seen user demand for ocUSDT (protection on USDT deposits in Compound) as lots of DeFi users have been attracted to the COMP incentives for USDT,” Opyn co-founder Alexis Gauba told CoinDesk.
With the price of COMP going so high so suddenly, there has beendiscussion on Twitterof creating a hedge for the governance token.
Gauba wrote, “The Opyn team does currently have plans for an oCOMP token, however, the protocol is completely open and supports options on any arbitrary ERC-20 token, so anyone could create an oCOMP token!”
• DeFi Startups Built on Compound Weigh What to Do With $200 COMP Tokens
• DeFi Startups Built on Compound Weigh What to Do With $200 COMP Tokens || MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’: Publicly traded business intelligence firm MicroStrategy purchased 21,454 bitcoin on Tuesday, effectively pouring all $250 million of its planned inflation-hedging funds into the digital currency. Disclosing its bitcoin buy alongside an equivalent stock buyback in a Tuesday Securities and Exchange Commission filing, MicroStrategy, a Nasdaq-listed software firm worth over $1.2 billion, said the cryptocurrency provided a “reasonable hedge against inflation” in a press statement shared with CoinDesk. “This investment reflects our belief that bitcoin, as the world’s most widely adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash,” said CEO Michael J. Saylor. Saylor cited forces working to weaken fiat currencies – COVID-19, global quantitative easing measures, political and economic uncertainty – but also the technical and qualitative aspects that he said give the bitcoin blockchain strength. “We find the global acceptance, brand recognition, ecosystem vitality, network dominance, architectural resilience, technical utility and community ethos of bitcoin to be persuasive evidence of its superiority as an asset class for those seeking a long-term store of value,” Saylor said. The capital allocation quickly fulfills Saylor’s late July promise to shareholders that MicroStrategy would buy back $250 million in stock and invest an additional $250 million in gold and bitcoin over the next 12 months. The belief was that these and other “alternative investments” would protect MicroStrategy’s dollar-heavy balance sheet. It is now clear that half of the $500 million bet turns entirely on bitcoin. MicroStrategy “accordingly has made bitcoin the principal holding in its treasury reserve strategy,” Saylor said. Read more: Nasdaq-Listed MicroStrategy, Wary of Looming Dollar Inflation, Turns to Bitcoin and Gold Related Stories MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’ MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’ MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’ MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’ || Latest Bitcoin price and analysis (BTC to USD): Bitcoin has resiliently remained above the $9,000 level of support despite losing a portion of its momentum to the upside. It has traded within this tight range since the beginning of May, culminating in one of the least volatile periods in Bitcoin’s ten-year history. Stagnant price action typically precedes a major move, with analysts currently torn over whether Bitcoin will suffer a major correction to the yearly high at $7,100 or break out above the stubborn $10,500 level of resistance. Bitcoin hasn’t traded above $10,500 since September, 2019 , with three subsequent rejections coming in October, February and more recently in May. A breakout above that level would undoubtedly be the first indicator of a prolonged bullish move to the upside, which would tie into the stock-to-flow model that is attributed to the recent halving event. As supply of new Bitcoin onto the market is reduced, as long as demand remains the same, price will naturally surge. However, it’s worth noting that global socio-economic factors such as the impact of covid-19 also poses an issue to the trajectory of Bitcoin over the coming months. With Bitcoin being closely correlated to the S&P500, a second wave in covid-19 cases could plunge the index as well as the world’s largest cryptocurrency as it did in March. 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. || Twitter hack: Bitcoin scam targets Elon Musk, Joe Biden and Barack Obama: Amass Twitter hackaffected Barack Obama, Democratic presidential candidate Joe Biden, Apple, Uber and half a dozen cryptocurrency accounts last night.
The world's most high-profile business leaders, influencers and politicians were affected by the attack, which first hit early on Wednesday afternoon and continued for several hours.
The accounts, which between them have hundreds of millions of followers, posted scam links and messages directing people to send bitcoin to particular wallets, with the promise that donations would be matched.
Twitter eventually suspended all tweeting from verified accounts. Shares fell 4pc in after-hours trading.
On Wednesday evening, hackers had gained access to a number of high-profile accounts in what was described as a "coordinated social engineering attack", and posted scam links from their accounts, with messages suggesting people could double their money if they put cashinto a bitcoin wallet.
"All major crypto Twitter accounts have been compromised," bitcoin billionaire Cameron Winklevoss tweeted as the attack began, adding that the account for his company Gemini had been equipped with two-factor authentication and a strong password.
Some of the accounts, including Gemini, Binance and Kucoin, were used to post fake announcements that they had partnered with "CryptoForHealth" and included a link to a website, while Elon Musk's account tweeted a link to a Bitcoin address and promised to match people's funds if they sent their money there.
"Feeling greatful, [sic] doubling all payments sent to my BTC address! You send $1,000, I send back $2,000! Only doing this for the next 30 minutes," a tweet sent by Mr Musk's account said.
Some of the tweets cited the impact of the Covid-19 pandemic. "Due to Covid-19, we are giving back over $10,000,000 in Bitcoin! All payments sent to our address below will be sent back doubled," the tweet from Uber's account said.
Apple's tweet said: "We are giving back to our community. We support Bitcoin and we believe you should too!"
Jeff Bezos, Bill Gates, Kanye West and Mike Bloomberg were also affected.
Public blockchain records suggest that the link sent out by the Twitter accounts received contributions of more than $100,000, although that may not be the true figure givencyber-criminals often put their own moneyinto the accounts so the scheme appears legitimate.
This means it is not clear how much of the money was sent by victims and how much was a further part of the scam.
One of thebitcoin accountstweeted by Mr Musk's handle appeared to have more than $40,000 in it less than half an hour after the tweet was sent.
His account continued to post new tweets even as old ones were deleted. "Just sent out $45,000!" was posted more than an hour after the original messages.
Whilst it is not yet clear who was responsible, investigators will be looking at the CryptoForHealth.com domain, which was referred to in the hack.
Those responsible also appear to have set up an Instagram account, last night posting on the Stories function: "It was a charity attack. Your money will find its way to the right place."
The question then is, who owns those accounts and whether the names and email addresses behind them can be linked to real people.
Whoever it was appears to have gained access to an internal Twitter "admin" tool, which could be used to take control of high-profile accounts.
Vice claimed last night that a Twitter insider had been responsible for the attack, citing sources who said the hackers had paid the employee to "do all the work for us".
Whether this is the case is not clear. Twitter told Vice that it was investigating whether hackers had gained access to the tool or whether it had been hijacked by one of their employees.
It later said the attack was a "coordinated social engineering attack by people who successfully targeted some of our employees with access to internal systems and tools".
“We know they used this access to take control of many highly-visible (including verified) accounts and Tweet on their behalf.”
Its investigation is still, however, ongoing.
For now, it's hard to say, although the accounts targetted appear to all be verified users,meaning those whose accounts have a blue tick to confirm their identity.
It seems those behind the attack were looking to get as much money as possible into the bitcoin wallet, and did so through hijacking the accounts of the most high-profile figures - although notably notPresident Donald Trump's account.
In the hours since, Twitter has taken steps to limit access to its internal systems and tools, and last night blocked some people from being able to tweet or change their password.
But, still, the scope of the attack is not clear. Twitter said it was "looking into what other malicious activity they may have conducted or information they may have accessed".
There are many things that need to be cleared up, the biggest one being how did Twitter let this happen.
Some speculation has centred around whether the hack came about due to more remote working, as Twitter staff were logging in from outside devices into their systems. Whether this is true is yet to be seen.
The hack will, however, likely raise questions over why Twitter has such admin tools and systems in place if they could be hijacked.
Questions have also emerged over how the hackers chose which accounts to target, or whether high-profile figures such as Donald Trump are given extra protections.
These questions will, however, need to wait until Twitter has disclosed how exactly the attackers managed to gain access to accounts.
More immediately, many of those who saw their accounts compromised will want to know whether the rest of their data is safe, or whether private messages and personal details attached to their accounts have also been accessed.
After all, the attackers did not appear to get huge amounts of money from the scam. There will likely be some fears that more could be to come. || Twitter Accounts of Kanye West, Apple, Jeff Bezos, Barack Obama, Elon Musk and More Hacked by Bitcoin Scammers: Click here to read the full article.
UPDATED:On Wednesday evening, theTwitterSupport account said that the hacking of several high-profile accounts was a “coordinated social engineering attack by people who successfully targeted some of our employees with access to internal systems and tools.”
The account added that the investigation will continue, and “Internally, we’ve taken significant steps to limit access to internal systems and tools while our investigation is ongoing.”
Multiple high-profile accounts on Twitter were hijacked by a coordinated group of cryptocurrency scammers Wednesday, including those ofKanye West, Apple, Barack Obama, Mike Bloomberg, Joe Biden, Uber,Jeff Bezos, Elon Musk and Bill Gates.
The hackers’ tweets have since been deleted from the affected accounts. A Twitter spokesperson directed an inquiry to updates from the Twitter Support account, whichposted a messageat 5:45 p.m. ET saying, “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.”
The Twitter Support team subsequentlysaid, “You may be unable to tweet or reset your password while we review and address this incident.” Twitter had disabled verified accounts from tweeting temporarily.
The scams involved promises that users would double their money if they sent cash in the form of Bitcoin to a specific account. The hacked tweet from Bloomberg’s personal account, for example, said, “I am giving back to the community” and asked users to send $1,000 in Bitcoin to receive $2,000 back.
According toCNBC, the hackers’ message that was tweeted via Gates’ account read: “Everyone is asking me to give back, and now is the time. I am doubling all payments sent to my BTC address for the next 30 minutes. You send $1,000, I send you back $2,000.”
The hacked tweet from the @Apple account was notable because it has not sent any tweets in the nearly nine years since it was created on the platform.
Almost 300 people had been duped by the scam after the bogus tweets were posted, the New York Timesreported. A Bitcoin account that was linked to from the hacked tweets had received more $100,000 at the current exchange rate,according to Blockchain.com, although observers have noted that scammers sometimes seed their own accounts to appear legitimate.
“Tough day for us at Twitter. We all feel terrible this happened,” Twitter CEO Jack Dorseytweeted. “We’re diagnosing and will share everything we can when we have a more complete understanding of exactly what happened.”
Other Twitter accounts targeted in the coordinated attack included Kim Kardashian West, Wiz Khalifa, Warren Buffett, YouTube creator MrBeast, Wendy’s and Cash App (a mobile payment service developed Dorsey-led Square), as well as @bitcoin, @coindesk, @coinbase and @binance, TechCrunchreported.
Twitter has suffered hacking attacks before, but nothing on the scope of the July 15 barrage of hijackings. In August 2019,Dorsey’s own Twitter account was compromisedwith the hackers tweeting racial slurs and a bomb threat before the account was secured.
Twitter shares, after closing up 3.75% Wednesday, dropped more than 3% in after-hours trading in the wake of the attack. || How Apples COVID Policy Limited a Public Health App in Taiwan: The Taiwanese startup Bitmark , which participated in a government-sponsored hackathon in May , was unable to promote its blockchain solution due to Apples pandemic moderation policy . We were trying to essentially build a weather forecast but for public health, said Bitmark CEO Sean Moss-Pultz. It allowed people to volunteer their symptoms and what they are trying to do to get better, and connect that to public data from public health offices. Precisely because the World Health Organization excludes Taiwan, the small Asian nation has developed a unique set of software tools for combatting COVID-19. However, the Apple store only lists health apps published by government entities or nonprofits. This means the small nations startup community has limited access to mobile device users. (Apple did not respond to requests for comment by press time.) Related: Why Bitcoin Bulls Are Betting on Explosive Growth in India According to a report by the analytics and accelerator company AppWorks, there are now roughly 112 blockchain startups in Taiwan, including the supply chain management startup BSOS, which received an investment from Taiwans National Development Fund earlier this year. Read more: Austrian Government Funds Development of Blockchain-Based COVID-19 App What are the next growth opportunities for blockchain? Everyone has different interpretations and expectations, the AppWorks report said. However, currently, conversations are mostly centered around the pandemic, with criticisms mainly targeted at the limitations and failures of centralization. Moss-Pultz said his firm experienced those limitations first-hand. The mainstream app stores would only accept the resulting app, called Autonomy, if the Taiwanese government itself released the mobile app. Related: Swiss Government Makes Moves to Encourage Crypto Businesses People all around the world are getting their apps blocked, Moss-Pultz said. We spent most of June trying to figure out what type of strategy we could have.
Most likely were just going to [release Autonomy] as a web thing. Story continues Incentives Apple and Google are hardly the only tech giants defining the public pandemic narratives. Amazon, for example, forced bitcoin advocate Knut Svanholm to remove a brief mention of the coronavirus from his self-published book in order to distribute it through Kindle in April. As the Svanholm incident illustrated, moderating health tools during a pandemic without resulting in blunt-force censorship is a difficult task to automate. Colin Steil, co-founder of the Taiwanese blockchain startup Cartesi, said tech companies always have to proceed with caution to avoid their software being used to cause unrest or disrupt in political issues. Internet giants can be accused of censorship regardless of whether they moderate content. Companies like Facebook and Twitter are both heavily criticized for rampant misinformation campaigns on their platforms, although they took radically different approaches to moderation. (Facebook has since recanted and said it will change its policies , due to public pressure.) Critics seem to consider the opposite of censorship to be, not digital anarchy, but consistently high-quality moderation. Read more: Social Media Bans Highlight the Profound Censorship on Web 2.0 Steil said that, compared to stringent but relatively healthy Taiwan, American leaders were stalled for many reasons in reacting to the pandemic and reliant on tech companies to offer solutions. Taiwan took the pandemic very seriously due to its prior experience with viruses, and reacted in a method that used whatever tools and tech they had available, Steil said, highlighting the contrast in public policies. Blockchain Commons founder Christopher Allen, who collaborated with Bitmark at the May hackathon and is an advocate for decentralized identity tech , said good actors at Silicon Valleys tech giants are often stymied by company objectives. So far, American tech companies dominate public services, sometimes even running servers for government agencies, he said, in ways other private companies cannot compete with. Their strategies have been to vertically integrate and limit other people, Allen said of companies like Google, Facebook and Apple. I dont think their intent is malicious in any fashion, but the nature of keeping competition out has a potential harm. Related Stories How Apples COVID Policy Limited a Public Health App in Taiwan How Apples COVID Policy Limited a Public Health App in Taiwan || 3 Reasons Bitcoin’s Price Could Soon Rise to $10K: Bitcoin jumped above $9,500 on Wednesday, ending a four-week-long low-volatility squeeze.
Now the cryptocurrency looks set to climb toward the psychological hurdle of $10,000, as suggested by several factors.
• Bitcoin’s high of $9,551 on Wednesday was its highest level since June 24, according to CoinDesk’sBitcoin Price Index.
• The gain has confirmed a Bollinger band breakout on the daily chart and opened the doors for a move of $400 or more on the higher side,as noted by Adrian Zdunczyk, CEO of trading community The BIRB Nest in a blog post.
• Bollinger bands are volatility indicators placed two standard deviations above and below the 20-day moving average.
• They had recently narrowed to levels last seen in November 2018 as the cryptocurrency traded in the very restricted range of $9,000–$9,400.
• A big move often follows a period of very low volatility.
• Open interest or open positions in bitcoin futures listed on the Chicago Mercantile Exchange (CME) – considered synonymous with institutional interest – jumped 15% to a one-month high of $452 million on Wednesday.
• The metric has risen by 24% over the past three days alongside bitcoin’s uptick from $9,120 to $9,550, according to data sourceSkew.
• Global open interest (as gauged by data from 12 major crypto derivatives exchanges) has risen above $4 billion for the first time since early March.
• A price rally is said to have legs if it is accompanied by an uptick in open interest.
• The “risk-on” mood in the traditional markets further supports stronger gains for the leading cryptocurrency.
• Global stock markets are trading at five-month highs while the U.S. dollar, a safe haven in times of crisis, is languishing near March lows, according toInvesting.com.
• The EU’sfiscal stimulus dealand market expectations of anadditionalU.S. coronavirus stimulus package are pushing stocks higher.
• Bitcoin hasrecently developeda stronger positive correlation with the equity markets.
• It’s worth noting thatescalatingChina-U.S. tensions pose a risk to the equity market rally and possibly bitcoin prices.
Disclosure:The author holds no cryptocurrency at the time of writing.
• 3 Reasons Bitcoin’s Price Could Soon Rise to $10K
• 3 Reasons Bitcoin’s Price Could Soon Rise to $10K
• 3 Reasons Bitcoin’s Price Could Soon Rise to $10K
• 3 Reasons Bitcoin’s Price Could Soon Rise to $10K || Market Wrap: Bitcoin Dips to $11.5K; Cardano Is Making a Big DeFi Move: Bitcoin’s price is trending down and an Ethereum competitor is entering the DeFi race this weekend.
• Bitcoin(BTC) trading around $11,579 as of 20:00 UTC (4 p.m. ET). Slipping 2.4% over the previous 24 hours.
• Bitcoin’s 24-hour range: $11,348-$11,919
• BTC below 10-day and 50-day moving averages, a bearish signal for market technicians.
Bitcoin’s price was able to rally to as high as $11,917 Friday before losing momentum, falling back into the $11,500 range. “Over the past day, bitcoin tested the level of $11,900 but it did not succeed, and BTC slipped,” said Constantine Kogan, partner at crypto fund of funds BitBull Capital.
Read More:Fixing This Bitcoin-Killing Bug Will (Eventually) Require a Hard Fork
Related:Bitcoin Transaction Fees Dropped 58% Last Week as Congestion Eased
Bitcoin and gold continue to trade together. Gold is also down Friday, in the red 1.6% and at $2,030 as of press time. “The gold/BTC correlation is at an all-time high right now,” said Daniel Koehler, liquidity manager for cryptocurrency exchange OKCoin. “The one-month correlations between BTC and gold have seen a significant spike over the past two weeks, currently sitting at about 67%,” he added.
One downward trending day is not altering optimism about the crypto market, added Koehler. “With bitcoin following gold as a store of value, and DeFi pushing ETH, the excitement is palpable in the trading community right now.”
John Willock, CEO of digital asset liquidity provider Tritum, agrees. “Sentiment in the market is highly buoyant and generally positive market news is increasing confidence and aggression in positioning,” he said. “I expect to see bitcoin bounce back quickly to $12,000 with ether to $400 this weekend.”
The second-largest cryptocurrency by market capitalization (ETH),ether,was down Friday, trading around $347 after slipping 4.6% in 24 hours as of 20:00 UTC (4:00 p.m. ET).
Related:Bitcoin Suddenly Drops by $500 After Passing $12K [Updated]
Read More:Polkadot Releases Rococo, Test Environment for Interoperable ‘Parachains’
Smart contact platform Cardano intends to start producing proof-of-stake (PoS) mainnet blocks this weekend. Ethereum’s switch to PoS from its current proof-of-work setup is expected sometime by the end of the year.
Since the start of 2020, Cardano’s token,ada, has seen a market capitalization increase from $1 billion to $4.5 billion, according to CoinGecko. The platform, a competitor to Ethereum, has taken a methodical approach towards launchingand now has 770 pools staking almost 20% of ada supply.
George Clayton, managing partner of Cryptanalysis Capital, is looking forward to watching Cardano in the DeFi race, as smart contract capabilities for building decentralized applications on the platformare expected to launch later in 2020. “The transition to PoS mainnet is complete but stake pools do not start producing blocks until Aug. 8,” he said. “Very interested to see what happens with Cardano; that’s a big moment for the protocol.”
Digital assets on theCoinDesk 20are mostly in the red Friday. One notable winner as of 20:00 UTC (4:00 p.m. ET):
• chainlink(LINK) + 0.62%
Read More:Kyber CEO Predicts 2020 Transactions at $3B as DeFi Token Soars
Notable losers as of 20:00 UTC (4:00 p.m. ET):
• zcash(ZEC) – 8.1%
• tezos(XTZ) – 7.4%
• dash(DASH) – 7.4%
Read More:Ethereum Classic Attacker Double-Spends $1.68M in Second Attack
Equities:
• In Asia, the Nikkei 225 closed in the red 0.39% asweak corporate earnings spurred profit taking ahead of a three-day weekend in Japan.
• In Europe, the FTSE 100 ended the day flat, in the green 0.09%. asU.S. tensions with China countered better-than-expected job numbers.
• In the United States, the S&P 500 lost 0.40% asprogress slows on negotiations for fresh coronavirus economic stimulus.
Read More:NBA’s Spencer Dinwiddie, Andre Iguodala Join Dapper Labs $12M Funding
Commodities:
• Oil is down 1%. Price per barrel of West Texas Intermediate crude: $41.51.
Read More:Binance Says NY Banks Can Now Use Its Stablecoin After Approval
Treasurys:
• U.S. Treasury bonds all climbed Friday. Yields, which move in the opposite direction as price, were up most on the 10-year, in the green 5.4%.
Read More:Privacy Group Slams California Bill Putting Health Records on Blockchain
• Market Wrap: Bitcoin Dips to $11.5K; Cardano Is Making a Big DeFi Move
• Market Wrap: Bitcoin Dips to $11.5K; Cardano Is Making a Big DeFi Move || The Crypto Daily – Movers and Shakers – June 19th, 2020: Bitcoin fell by 0.77% on Thursday. Following on from a 0.64% decline on Wednesday, Bitcoin ended the day at $9,400.0. It was a mixed start to the day. Bitcoin recovered from an early dip to strike a late morning intraday high $9,496.9 before hitting reverse. Falling well short of the first major resistance level at $9,606.27, Bitcoin slid to a late intraday low $9,285.0. The reversal saw Bitcoin fall through the first major support level at $9,300.27 before finding late support. Bitcoin broke back through the first major support level to $9,400 levels, limiting the loss on the day. The near-term bullish trend remained intact in spite of last week’s sell-off, with Bitcoin holding well above the 23.6% FIB of $8,900. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was a bearish day on Thursday. Binance Coin (-1.53%), Bitcoin Cash SV (-1.49%), Cardano’s ADA (-1.91%), Litecoin (-1.45%), Ripple’s XRP (-1.68%), and Stellar’s Lumen (-1.47%) lead the way down. Bitcoin Cash ABC (-1.21%), EOS (-1.19%), Ethereum (-1.09%), and Tron’s TRX (-1.03%) also struggled on the day. Monero’s XMR and Tezos saw relatively modest losses of 0.17% and 0.51% respectively. Through the current week, the crypto total market cap fell to a Monday low $246.94bn before rising to a Wednesday high $266.87bn. At the time of writing, the total market cap stood at $260.24bn. Bitcoin’s dominance rose to a Monday high 66.60% before sliding to a Wednesday low 65.87%. At the time of writing, Bitcoin’s dominance stood at 66.10%. This Morning At the time of writing, Bitcoin was down by 0.48% to $9,355.0. A bearish start to the day saw Bitcoin fall from an early morning high $9,400.0 to a low $9,333.4. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a mixed start to the day on Friday. Story continues Binance Coin was up by 0.33% to buck the trend early on. It was bearish for the rest of the pack, however, with Cardano’s ADA down by 1.05% to lead the way down. For the Bitcoin Day Ahead Bitcoin would need to move through the $9,394 pivot to bring the first major resistance level at $9,502.93 into play. Support from the broader market would be needed, however, for Bitcoin to break out from Thursday’s high $9,496.6. Resistance at $9,500 has continued to pin Bitcoin back since 11 th June. Barring a broad-based crypto rally, the first major resistance level and Thursday’s high $9,496.9 would likely cap any upside. In the event of a crypto breakout, Bitcoin could test the second major resistance level at $9,595.87. Failure to move through the $9,394 pivot level could see Bitcoin struggle on the day. A fall through the morning low $9,333.4 would bring the first major support level at $9,291.03 into play. Barring another extended crypto sell-off, however, Bitcoin should steer clear of sub-$9,000 levels. The second major support level at $9,182.07 should limit any downside. This article was originally posted on FX Empire More From FXEMPIRE: European Equities: A Quiet Economic Calendar Leaves Stimulus and COVID-19 News in Focus Gold Has Finally Cleared Major Resistance – Time for Liftoff EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – June 19th, 2020 US Stock Market Overview – Stocks Close Mixed; Dow Drop and Nasdaq Continue to Rally Silver Price Forecast – Silver Markets Give Back Early Gains A 2nd Term and a 2nd Impeachment – Only in America || Twitter says attackers targeted 130 accounts in Wednesday's breach: Details continue to slowly come out from Twitter around the troubling attack on Wednesday that allowed hackers to tweet a Bitcoin spam message from high profile accounts . Tonight, the company revealed that based on its investigation so far, “we believe approximately 130 accounts were targeted by the attackers in some way as part of the incident. For a small subset of these accounts, the attackers were able to gain control of the accounts and then send Tweets from those accounts.” A major question throughout has been whether hackers had access to DMs for accounts we know they compromised (Elon Musk, Bill Gates, Warren Buffett, Barack Obama, Joe Biden and others), or for ones that we don’t know about. Reports suggest whoever had access to its internal tools was prepared to use them days before the attacks started, and that they’d used them to take over other accounts before the spam messages popped up. Twitter addressed that but did not answer it, saying “We are continuing to assess whether non-public data related to these accounts was compromised, and will provide updates if we determine that occurred.” Also, while users can reset their passwords again, for the time being, exporting your Twitter data is still disabled. We’ll let you know if any other updates come out from Twitter or the FBI . We’re working with impacted account owners and will continue to do so over the next several days. We are continuing to assess whether non-public data related to these accounts was compromised, and will provide updates if we determine that occurred. — Twitter Support (@TwitterSupport) July 17, 2020 We have also been taking aggressive steps to secure our systems while our investigations are ongoing. We’re still in the process of assessing longer-term steps that we may take and will share more details as soon as we can. — Twitter Support (@TwitterSupport) July 17, 2020
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 12254.40, 11991.23, 11758.28, 11878.37, 11592.49, 11681.83, 11664.85, 11774.60, 11366.13, 11488.36
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
What you need to know on Wall Street right now: (Donald Trump.Getty Images)Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours.
Barclays, the 300-year-old British financial institution, isdoubling down on investment banking in the US.
"Our narrative needs to be: 'We are a top, fifth-ranked firm in the US' investment banking market — period,'"John Miller, who is head of Barclays' corporate and investment bank in the Americas,recently told Business Insider.
Elsewhere on Wall Street, hedge fund traders from alegendary desk at Goldman Sachs have lost billions of dollars. And the statue of the "Fearless Girl"will stare down the Wall Street bull for another year.
TheGOP's Obamacare replacement plan got pulled from a vote in the Houseon Friday, putting markets on edge. Here's what you need to know:
• How "Trumpcare" went up in flames — and why it should worry the GOP about the future
• Wall Street already knows how to spin Trumpcare's ugly collapse — but it's missing the point
• There's a reason why it's "been decades since significant tax reform has passed"
• Here's the next hill Trump, Ryan and House Republicans could die on
• Here's who has the most to lose if the government starts negotiating drug prices
In markets news, one of Wall Street's favorite Trump tradesis rewarding investors that bet against it. Hospital stocks arepopping after the demise of "Trumpcare."Wall Street is gettingone of its biggest calls of the year all wrong.
In economics, Treasury Secretary Mnuchin says AI taking US jobs is "50-100 more years" away —but it's already beginning to happen. And seeing how the highest and lowest-earnersspend their money will make you think differently about "rich" vs "poor."
In deal news,Okta priced its IPO andhopes to hit a $2 billion valuation. AndElevate Credit, an online lender that focuses on riskier borrowers,is headed for an initial public offering.
And in tech, the No.1 investment bank advising Snap on itsIPO is projecting massive growth for the company. TheYouTube advertiser boycott will cost Google $750 million, according to one analyst. And a Bitcoin civil war is threatening to tear the digital currency in two —here's what you need to know
Lastly, take a look inside the exclusive New York gym whereHugh Jackman, Victoria's Secret models and Wall Streeters work out.
Here are the top Wall Street headlines from the past 24 hours.
Saudi Arabia sweetens huge Aramco IPO with tax cut-Saudi Arabia's government has cut the income tax paid by national oil giant Saudi Aramco to smooth the company's initial public offer of shares next year, which is expected to be the world's largest equity sale.
Brexit is already hurting London's reputation as a financial centre-London has seen its standing as a financial center slip as Britain prepares to trigger its departure from the European Union, according to a survey released on Monday, although rival European cities still lag far behind.
Tesla is about to confront dueling best- and worst-case scenarios, and anything could happen-Tesla is preparing for its biggest year ever.
Whole Foods is facing its worst nightmare after an unexpected threat stole millions of customers-Whole Foods is losing millions of customers to what was once an unthinkable threat: Kroger.
This cocktail brought the "original American whiskey" back from the dead-Whiskey is experiencing a huge comeback in America.
The Trump era is ushering in a "more is more" design renaissance in America-The Trump aesthetic is far from subtle.
We got a peek inside a $20 million apartment in the latest skyscraper to dramatically alter Manhattan's skyline-Madison Square Park Toweris changing Manhattan's skyline. The 65-story glass skyscraper is the tallest in its Flatiron District neighborhood, and because of various zoning laws surrounding it, its fantastic views will never be obstructed.
More From Business Insider
• What you need to know on Wall Street right now
• What you need to know on Wall Street right now
• What you need to know on Wall Street right now || 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/Dollar Hits All-time High, CNH/JPY Eyes Key Resistance: DailyFX.com -
Talking Points：
-Bitcoin against the U.S. Dollar soared to a new all-time high, driven by Japanese purchases.
- The CNH/JPY rose back to below the yearly open range low; Chinese Caixin PMI prints could add momentums.
-Read DailyFX latest trading guides fortheoutlookof the Japanese Yen in the second quarter.
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Bitcoin
Bitcoin against the U.S. Dollar set a new all-time highon Tuesday, touching 1481.73. This is mostly driven by the increasing demand in Japan according to bitcoinity.
After the Chinese regulator started to crack down illegal transactions through Chinese Bitcoin trading platforms, the ratio of Bitcoin trading volume in China to the world hasdropped to 20% in Marchfrom more than 90% previously. Then, Japan, overtaking China, becomes the largest Bitcoin trading country by volume.
From a technical point of view, the BTC/USD is currently right below a key resistance level, the top line of a parallel. Traders will want to be aware of a likely retracement around this level.
BTC/USD1-day
Prepared by Renee Mu.
CNH/JPY
The offshore Yuan against the Japanese Yen also approaches to a major resistance level. In the mid-March, the pair broke below the open range low of 16.31 and now is back to around this level.
CNH/JPY 1-day
Prepared by Renee Mu.
In the coming session, China will release the Caixin PMI prints for April. If those gauges come in to be better than expected, they may add momentum to the CNH/JPY and increase the odds of a breakout.
See the fullDailyFX Economic Calendar
YuanIndexes
- As of last Friday, the Chinese Yuan (CNY) has been losing to a basket of currencies for the third week, measured by both the CFETS Yuan Index and the BIS Yuan Index; it has beenfalling for the second week, measured by the SDR Yuan Index. In specific, the primary gauge for Yuan’s value to a basket of currencies, CFETS Yuan Index, has dropped to the lowest level since it was quoted in 2015, to 92.98 last Friday.
Data downloaded from Bloomberg; chart prepared by Renee Mu.
Market News
Sina News: China’s most important online media source, similar to CNN in the US. They also own a Chinese version of Twitter, called Weibo, with around 200 million active usersmonthly.
Chinese steel producers showed improved performance in the first quarter. 33 out of 36 steel companies that have released first-quarter annual reports revealed positive earnings in the first three months. The total profits of these listing steel companies soared to more than 11.0 billion yuan compared to a loss of -4.0 billion yuan in the first quarter last year.
- China’s State-owned Assets Supervision and Administration Commission hosted a conference, requiring steel and coal firms to cut excessive production. The annual target for steel companies in 2017 is to reduce 5.95 million tons of capacity; the target for coal companies is to cut 24.93 million tons of capacity. Amid the pressure on achieving these goals, the profits of Chinese steel and coal producers could drop again.
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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 fromIG. || What US ETF Market Looks Like Today: It was just 24 years ago that the first ETF, theSPDR S&P 500 (SPY), came to market—ETF No. 1.
Now, with 51 new ETF launches having already occurred this year, we are about to hit a milestone: 2,000 ETFs listed in the U.S.
These funds already command more assets than hedge funds in an asset base that grows about 20-25% yearly. With nearly $3 trillion in assets in U.S.-listed ETFs alone, some are already projecting the size of the market to double by 2020.
If you talk to those who were part of the ETF industry’s early days—people likeState Street Global Advisors’ Jim RossandiShares’ former head Lee Kranefuss, you get a sense that no one would have guessed ETFs would take off as they did, and reinvent the way investors access the market.
“The growth of ETFs in U.S. capital markets is a textbook case study in ‘Disruptive Innovation,’ right alongside well-known historical examples like Amazon, Google, Facebook, Netflix and scores of others successful enterprises,” ConvergEx Nick Colas said in a commentary this week. “It is no exaggeration to say that there are more ETFs than investable stocks listed on U.S. exchanges.”
Today’s market definitely looks very different from its early days. The era of plain-vanilla products designed around well-known equity indices is giving way to a wave of innovation that has ETFs tapping into broad, diverse and niche pockets through various strategies today.
Here’s a broad overview of the market’s makeup, with data courtesy of FactSet:
Asset Class
Equity ETFsdominate in numbers and in assets. Roughly 70% of all U.S.-listed ETFs are equity funds—or some 1,385 ETFs in the market today. These U.S. and/or international equity ETFs have about $2.2 trillion in combined assets. That amounts to 78% of all U.S.-listed ETF assets, or nearly $8 out of every $10 invested in ETFs today.
Investors have plenty of choices when it comes to equity ETF exposures.
The biggest of these funds are all focused on U.S. stocks, led by SPY, with $233 billion in assets.IVVcomes at No. 2, with $103 billion; andVTIat No. 3, with $76 billion. Those three ETFs alone represent about 25% of assets specifically in U.S. equity ETFs, and 19% of all assets tied to equity ETFs, either domestic or international.
Fixed income ETFs—the second-largest asset class in this industry—command about $490 billion in total assets, the bulk of which is in U.S. fixed-income funds. This is a segment of the market that’s still growing.
There are only 317 fixed-income ETFs on the market today, which represents about 16% of all U.S. ETF listings. Many see fixed income as a still-opening-up frontier for more ETF innovation.
The remainder of the market is split into smaller slices:Alternatives ETFsrepresent about 2.6% of the total market;asset allocation ETFs2.2%;commodity ETFs5.7%; andcurrency ETFs1.5% of the total number of U.S. ETF listings.
Smart-Beta ETFs
Market-cap-weighted strategies were the first, and remain the largest number of, funds in the market. But it’s smart-beta funds that are driving asset growth and product innovation.
Smart beta goes by many names—some call it strategic beta, fundamental indexing, factor investing and more. But the ETFs in this category are simply rules-based strategies that aim to deliver better risk-adjusted returns than traditional market-cap-weighted indexes. They apply different selection screens, and weight securities in different ways to deliver a spectrum of results.
Today there are roughly800 smart-beta ETFson the market—that’s four out of every 10 ETFs in the market—and funds falling under this rubric represented roughly half of the ETFs that launched last year. Among equity ETFs, nearly half are some flavor of smart beta today. In the fixed-income space, where active management is still widely accepted, smart beta has been slower to find a following—only about 9% of all fixed-income ETFs today are smart-beta funds.
Costs
ETFs have always been known for their low cost, and ongoing fee compression keeps pushing price tags lower.
The cheapest ETFs on the market today carry a mere 0.03% expense ratio—that’s $3 per $10,000 invested. They are:
• Schwab U.S. Broad Market ETF (SCHB)
• Schwab U.S. Large-Cap ETF (SCHX)
• iShares Core S&P Total U.S. Stock Market ETF (ITOT)
These are all vanilla strategies, and as the market moves more toward smart-beta approaches, expense ratios have averaged higher because the more complex a fund is, the more it usually costs. But even in the smart-beta segment, fee compression is real.
The cheapest smart-beta ETFs today have 0.04% expense ratios—a pair of Schwab growth and value funds that use a multifactor selection process to pick securities, which are then market-cap-weighted in the portfolios.
Most ETFs today have expense ratios between 0.3% and 1.0%. But there are funds that come with hefty expense ratios. There are 22 ETFs that have expense ratios of more than 2%, and the most expensive ETF has an ER of 9.20%—that’s $920 per $10,000 invested. It’s theVanEck Vectors BDC Income ETF (BIZD).
ETF Issuers
Roughly 82% of all U.S.-listed ETF assets are managed by three single ETF issuers—BlackRock’s iShares, Vanguard and State Street Global Advisors. iShares’s dominance is uncontested, as the firm alone commands about $1 trillion of all ETF assets in the U.S.
But there are a growing number of ETF issuers, with new firms looking for ways to join the bandwagon as investors demand access to the ETF wrapper.
Today we count nearly 80ETF issuersin all, each trying to find their niche in a market that’s increasingly diverse.
At the end of the day, the number of ETF launches—which outpaces ETF closures year after year—and the continued entry of these new ETF players, suggest that 2,000 ETFs with nearly $3 trillion in the U.S. alone may very well be just the beginning for this “disruptive innovation” of an industry.
Contact Cinthia Murphy [email protected]
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Permalink| © Copyright 2017ETF.com.All rights reserved || Tax Day 2017: Poem for When Taxes Are Due and It's the Last Day to File: It’s the day before Tax Day: Have you filed your taxes yet? If not, you’re not alone. The Internal Revenue Service says there were as many as 40 million people who had yet to file their tax returns late last week, just before April 15 (which fell on a Saturday this year). Waiting until the last minute, of course, is practically an American pastime: as many as 25% of taxpayers file in the last two weeks before the deadline, according to the IRS. But U.S. filers are especially late this year , which means that procrastinators will have their work cut out for them this week: The tax deadline for 2017 is tomorrow, April 18, at midnight (Eastern time). With those of you in mind, we thought we’d ease your pain by creating a lighthearted diversion: A true story about Tax Day 2017-set to rhyme. From the problems plaguing the people who collect your taxes, to the hopes of at least some in Donald Trump’s administration-namely, Treasury Secretary Steven Mnuchin-to make Tax Day better (not only with tax cuts but with other reforms), this poem has everything you need to know, whether you’re settling your tab with the government or expecting an ample refund. Please enjoy, even if you don’t enjoy paying Uncle Sam. Make Tax Day Great Again Twas right before Tax Day When the word got around Changes were coming A new boss was in town . Secretary of the Treasury, Mnuchin was his name ; He would oversee the IRS, From Goldman Sachs he came. But on Wall Street they knew little Of the troubles the taxmen had For all its fearsome power Could the IRS really be this bad ? Its problems were increasing ; They were under attack; Not just from politicians, But also from hack after hack . “I was surprised,” Mnuchin cried, “30 percent staff cuts in such a short time! Why can’t doing our taxes be Just as easy as going shopping online ?” To make matters worse People were late to pay Hoping that Trump Would make their taxes go away. Ignorant as he was Of why it’s still so hard to file, Mnuchin hoped that Congress Would help on both sides of the aisle. Story continues Politicians laughed at the banker; And as the taxmen processed the news, “We thought you wanted to abolish us!” They said, “Haven’t you heard of Ted Cruz ?” But the Secretary had a vision As he surveyed his new domain And he pledged to pursue a new mission: To make the IRS Great Again! But as Tax Day got closer Some hurdles came to arise When Trump unfurled his budget There was another surprise. Mnuchin did not get his wish For enough money to hire, The proposal was just more cuts ; The funding was even more dire. “No matter,” said Mnuchin As the IRS begged for deliverance, As cheap e-filing increases, “It’ll surely make up for the difference!” By then the Secretary was on board With the President’s ambitious plan None of it would even matter Til tax reform was law of the land. For filers, there was one small reprieve: Amid the tax prep rush, a holiday fell between Meaning this year’s taxes are not due On their usual deadline of April the 15. “Take the weekend,” IRS said: “Tax Day’s the 18th; that’s a Tuesday. If you needed an extension, Forget about it, you’re excused, k?” But a different deadline was looming In the mind of Steven Mnuchin; His boss wanted tax cuts by August; So far there was only confusion . “ I’m going to cut taxes big league ,” Was the promise Donald Trump made: “Those companies who moved to Europe? How they will all wish they had stayed!” “We’ll slash rates for corporations, For individuals, we’ll whack it, Americans’ tax’ll be so low, You won’t even have the same bracket .” The price of making it happen, though? It may be the Border Adjustment Tax . Meanwhile, Americans dreamed of refunds, The size of bonuses at Goldman Sachs. That could take a while , Mnuchin knew, And Trump, after all, kept changing the deal; One minute he wanted tax reform, Now he wants Obamacare repeal? Plus, it had also become harder To convince some people it was fair That they had to file their tax returns When the President’s were God know’s where . Many people hadn’t paid what they owed; It became clear there were far too few: Bitcoin investors who disclosed profits Numbered a mere eight-hundred-and-two . Mnuchin had to find the answer The U.S. can’t afford to lose this bet; To pay for Trump’s infrastructure plan The country needs every cent it can get. Maybe we would collect more money, The Treasury Secretary mused, If filing were a bit easier, The tax laws wouldn’t be so abused! Finally, the key to fixing the state; Mnuchin may have discovered the clue: If you want to make America great, We’ll also need a better Tax Day too. For more Fortune poetry, see the week’s news review in haiku . This article was originally published on FORTUNE.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: [email protected] or visit http://www.bitcoincapitalcorp.com SOURCE: First Bitcoin Capital Corp. || U.S. SEC approves request to list quadruple-leveraged ETFs: (Adds NYSE comment)
By Trevor Hunnicutt
NEW YORK, May 2 (Reuters) - The Securities and Exchange Commission on Tuesday approved a request to trade quadruple-leveraged exchange-traded funds, marking a first for the growing market for such products in the United States.
The request to list ForceShares Daily 4X US Market Futures Long Fund, under the ticker UP, and ForceShares Daily 4X US Market Futures Short Fund, under the ticker DOWN, was filed by Intercontinental Exchange Inc's NYSE Arca exchange.
One of the funds is designed to deliver 400 percent of the daily performance of S&P 500 stock index futures, while another fund will aim to deliver four times the inverse of that benchmark. That means a fund could go up 8 percent on a day the index it tracks falls by 2 percent.
ETFs offering three times leverage already trade in the United States, but more reactive products have been limited to listing in Europe.
"We're excited about it," said Sam Masucci, chief executive officer at Exchange Traded Managers Group LLC, which is distributing the product, though he said the product is "not going to be for everybody.
"But for those people that are looking for the leveraged exposure to the S&P and they're not looking to do it by way of a futures product here you have a publicly listed security," Masucci said.
Regulators' move to approve the products comes after a difficult time for sponsors of more exotic ETFs.
Last year, the SEC presented draft rules that would restrict the use of derivatives, which was seen crimping some fund managers' ability to keep highly leveraged products on the market.
In March, the agency ruled against an application by investors Cameron and Tyler Winklevoss to bring the first Bitcoin ETF to market, although the SEC recently said it would review that decision.
The U.S. Senate voted on Tuesday to confirm attorney Jay Clayton to head the SEC, a change in leadership that could prompt a change in tack by the agency through which investment products come to market.
Douglas Yones, a top NYSE ETF official, said in an emailed statement that he hopes the approval "paves the way for us to work with other leveraged product issuers over the rest of the year."
The product sponsor could not immediately be reached for comment. (Reporting by Trevor Hunnicutt; Editing by Leslie Adler & Simon Cameron-Moore) || Is a Bitcoin ETF a Good Investment?: The Securities and Exchange Commission denied approval of the Winklevoss Bitcoin Trust ETF, an exchange-traded fund that would track the value of digital currency bitcoin. Friday's highly anticipated decision came nearly four years - and a dozen amendments - after the fund was first proposed and delayed indefinitely making gaining access to the currency as easy as logging into your online brokerage account. QUIZ: Test Your Knowledge of ETFs Bitcoin is a so-called "cryptocurrency" - an encrypted digital currency created by computer programmers that can be exchanged electronically for goods and services. It serves as an alternative to traditional currencies, such as the U.S. dollar or the euro. For now, you can buy bitcoins on online exchanges, which often require an involved registration process and premium prices. Or you can "mine" them (create them), using extremely sophisticated computer codes. The value of a single bitcoin is determined by investor speculation. Worth almost nothing when it was created eight years ago, bitcoin hit a record high above $1,300 this week, topping the price of an ounce of gold, before tumbling on the heels of the SEC rejection. The rise of bitcoin has been volatile, marked by steep dips that were triggered, in some cases, by high-profile hacks of online bitcoin exchanges. The ETF proposed by Cameron and Tyler Winklevoss (yes, the same set of twins who claimed Mark Zuckerberg stole their idea for Facebook and sued him over it) would have traded on the Bats Global Markets exchange under the symbol COIN. The fund would have tracked the value of bitcoins, backed by "baskets" of the virtual currency. Like any other ETF, the fund could have been bought or sold through a brokerage account. The SEC expressed concern over the unregulated nature of bitcoin markets, though ETF Trends Editor Tom Lydon said investors could've been relatively confident that the ETF would be structurally sound. That's to say, it would have accurately tracked the price of bitcoin and would have sufficient security measures in place to deter the sorts of hacks that have cropped up at online bitcoin exchanges. Eight years into a bull market, Lydon says, the appeal of such an instrument is apparent. "Alternative investing is something that individual investors, advisers and institutions are thinking about. Bitcoin is an area of the market that's not well-correlated with stocks, bonds or even other currencies," he says. But even if the ETF had been deemed suitable for individual investors, like any investment, Lydon says, you need to look under the hood. Two other bitcoin ETFs are currently under review by the SEC, and it's unclear what, if any, next steps the Winklevoss brothers will take. Bitcoin is surprisingly widely held and regularly traded -- but nowhere near the level of mainstream ETFs. Because of the way they're created, bitcoins are available on a limited basis, which, based on increased demand, would help increase the price. These factors check many investors' boxes for alternative investments. But investors who own any bitcoin ETF would need to understand the factors that cause prices to fluctuate and have a plan in place for rapid swings in the marketplace. For individual investors, tracking the complex world of digital currencies might be too much to ask. The risk factors listed in the prospectus include attacks by malicious actors and botnets that could corrupt the bitcoin code, among other things. Story continues Even if the bitcoin ETF had been approved, the wisest move an investor could have made would be to hold off, says Ben Johnson, director of global ETF and passive strategies research at Morningstar. "The reason ETFs tracking the U.S. dollar work is that there are more than 7 billion people who think it's worth something. That may not always be the case with bitcoin," he says. If you're looking for "non-correlated" investing instruments, you might explore precious metals, via SPDR Gold Shares ETF ( GLD ), or more active strategies, such as Merger Fund ( MERFX ), a mutual fund that aims to capture upticks in stock price when mergers are announced. As for bitcoin, says Johnson: "It's every bit as suitable to an individual investor as a lottery ticket." See Also: Should I Be Tempted to Invest in Bitcoin? EDITOR'S PICKS Should I Be Tempted to Invest in Bitcoin? Why Do People Still Pay Bills With Paper Checks? 10 Reasons Gold Will Outperform Stocks in the Next Decade Copyright 2017 The Kiplinger Washington Editors View comments || Bitcoin is roaring back: Bitcoinis higher for a second straight day on Tuesday, trading up 6.5% at $1,110 a coin as of 2:13 p.m. ET. The cryptocurrency has rallied about 17% since Sunday's low, rebounding from a slump over the weekend that followed a Wall Street Journal report that the cryptocurrency's developers were threatening to set up a "hard fork," or alternative marketplace for bitcoin.
The new platform would be incompatible with the current platform, thus creating a split and two versions of the currency. That news sent bitcoin crashing 20% over the weekend to about $950 a coin, its weakest since January.
(Investing.com)
2017 has been a volatile year for the cryptocurrency.
It gained 20% in the first week of the year after soaring 120% in 2016 to become thetop-performing currencyfor the second year in a row.
Bitcoin then crashed 35% on news thatChina was going to consider clamping downon trading.
But it managed to rip higher by more than 50% even in the face of several pieces of bad news.
First, China's biggest bitcoin exchanges said they were going to start charging a 0.2% fee on all transactions (previously there was no fee). Then, China's biggest exchanges said they were going toblock withdrawalsfrom trading accounts.
Still, bitcoin put in a record high of $1,327 a coin on March 10 as traders piled in ahead of the US Securities and Exchange Commission's ruling on theWinklevoss twins' bitcoin exchange-traded fund. The SEC denied the ETF, sending the price crashing by 16%. Bitcoin, however, managed to quickly recover those losses.
Two more SEC rulings are on the way, the next being March 30. Neither one is expected to pass.
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RippleNet is a blockchain-like protocol for faster settlement of international payments. It launched in 2012 butits concept predates bitcoin.And it has added 75 banking clients already.
Ripple Labs announced on Wednesday it has signed 10 new banks from all over the world, including BBVA in Spain; MUFG in Japan; Akbank in Turkey; SEB in Sweden; and Axis Bank and Yes Bank, both in India. Add those 10 to the 47-bank consortium in Japan that implementedRipple in March. And add those 57 to existing big-name clients like Bank of America, RBC, Standard Chartered and UBS, and RippleNet starts to look like it’s gaining traction very quickly.
“Our pace [of signing new clients] has dramatically increased,” says Ripple Labs CEO Brad Garlinghouse. “I also think people are getting more comfortable with blockchain technologies. It’s no longer a science experiment. It’s not theory, it’s very real.”
Thebitcoin blockchain is a decentralized, public, permissionless ledgerthat records every transaction and trade done in bitcoin. But now all manner of companies, from “blockchain as a service” startups like Rippleand Chainto established tech giants like IBM, are developing all manner of distributed ledgers forareas like food shipment tracking, smart contracts, and agriculture.
In many cases these applications of blockchain are closed and permissioned, which is a very different proposition than the spirit of the anonymized, open-to-all bitcoin blockchain. In banking, for now, the main appeal is toimprove the efficiency of their transaction processing.
Ripple’s value proposition to banking clients is cheaper rates and faster transfer times for international payments. The bank’s customers don’t have to know or care that they’re using Ripple (it isn’t like you’d tell your bank, “I want to send this money using Ripple”), but would certainly notice the faster transaction time than they’re used to.
Garlinghouse gives the pitch to banks this way: “If your customer wants to send yen to Japan, you are captive to the correspondent banking network and your customer has a bad experience and you, as a bank, have to endure cost to transmit that money.”
Ripple’s Consensus Ledger can process 1,000 transactions per second, and settles an international payment in three seconds on average. (He compares that to the bitcoin blockchain, which has slowed recently to two hours per transaction, creating a debate over block size; to be fair, both speeds are much faster than sending money with a traditional clearinghouse like Western Union.)
Ripple can also be used for in-country payments; many of the banks in Japan are using Ripple for domestic payments due to the sluggishness of the local payments network there. But for the most part, Ripple is focusing on cross-border payments because that’s the biggest pain point for banks and banking customers.
Santander added a function to its mobile app that lets customerssend money abroad over the Ripple network.While Ripple is hardly the only blockchain-for-banking startup out there, Garlinghouse boasts, “We are the only company in the space with real customers.” Competitors, Garlinghouse says, “are still playing in the sandbox. And proof of concepts are not a business model.”
That’s tough talk, and true only to an extent. Chain has partnered with heavy-hitters like Visa, Citi, and Nasdaq, but for now the results have been experiments, trial runs,or “previews” like Visa B2B Connect.
All the experimentation has led critics to say that the Wall Street interest in blockchain is all just talk, or as IBM blockchain exec Jerry Cuomo puts it, “blockchain tourism.” Ripple CTO Stefan Thomas acknowledges that the term itself has become a “classic technology buzzword.”
But Garlinghouse is confident that distributed ledger technology and its many applications will bring about the “Internet of value.” Many have applied that phrase to bitcoin (causing some contention over who owns the phrase), but Garlinghouse says it hasn’t lived up to that promise.
“We feel like to enable an Internet of value, you have to connect through repositories of value, and those are the banks,” he says. “Where many in the bitcoin community have espoused a view of, ‘Down with the banks, down with fiat currency,’ Ripple has taken the opposite: we think the banks are critical to the future of an Internet of value.”
Bitcoin has risen 178% in value in the past year(it’s now around $1,300), but critics now doubt that the coin can become more than a speculative investment.
“We might end up finding that bitcoin is the Napster of digital assets,” Garlinghouse says. “Napster lived in a world devoid of trademark law, and royalties, andtried to live outside of the rules, and you could say the same about bitcoin. I’m not predicting that bitcoin will go the way of Napster, but I would point out that bitcoin has demonstrated some very cool capabilities that, in the end, bitcoin may not be the best tool for.”
Ripple has its own digital token, XRP, and it is often billed by tech press as a bitcoin competitor, but that’s not quite right. Ripple uses it as a settlement token, and banking clients don’t have to use it or touch it at all. It is more of an institutional digital asset than a public investment vehicle like bitcoin, though anyone could buy some XRP if they wish. (Its value has risen 345% in the past year, but in dollars it is worth just 3 cents; again, its trading price is not the point.)
Ripple’s XRP coin is “about reducing the cost for banks to fund liquidity around the world,” says Garlinghouse. That can double as a statement of Ripple’s purpose, too. And if its banking clients, over time, decide that Ripple’s rail has reduced friction and made customers happier, expect Ripple to continue adding banks and financial clients, who are itching to show their innovativeness by saying they’re in the blockchain tech space.
—
Daniel Roberts covers bitcoin and blockchain tech at Yahoo Finance. Follow him on Twitter at@readDanwrite.
Read more:
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Why 21 Inc is the most exciting bitcoin company right now
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How big banks are paying lip service to the blockchain
Bitcoin’s biggest investor just bought its biggest news site
[Random Sample of Social Media Buzz (last 60 days)]
$1269.03 at 14:30 UTC [24h Range: $1243.03 - $1274.00 Volume: 3874 BTC] || #Bitcoin -0.03%
Ultima: R$ 3405.99 Alta: R$ 3499.65 Baixa: R$ 3202.00
Fonte: Foxbit || Daily Roundup: #VIX↑+8.26%.#Yields 10Y: HK -3.6, S.Africa -6.0 bps. #Brent #Crude +0.03% $56.00. $BTC +1.6% $1,229.9x.#Gold +1.43% $1,272.30 || One Bitcoin now worth $1535.17@bitstamp. High $1578.97. Low $1525.00. Market Cap $25.046 Billion #bitcoin pic.twitter.com/zPHIx6YTqL || $1177.38 at 14:00 UTC [24h Range: $1135.01 - $1206.04 Volume: 10630 BTC] || One Bitcoin now worth $1022.75@bitstamp. High $1063.70. Low $973.00. Market Cap $16.595 Billion #bitcoin pic.twitter.com/pCtiu5Tvge || It would be auspicious to buy at https://Bittylicious.com/refer/2465 £1,080.00 per BTC. (BPI +4.97%) #buy #bitcoin #banktrans || 2017/04/09-00:45
ZaifExchange
BTC:134000JPY(-5)
XEM:2.1285JPY(-0.0012)
MONA:6.9JPY(+0.1)
#monacoin
#bitcoin
#nem || #bitcoin #miner 10X S7 Antminer Batch 1 Excellent Condition - FREE SHIPPING $3400.00 http://ift.tt/2nkVJak pic.twitter.com/Q27o6JH1N3 || Bitcoin trading at 1230.00.
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|
Trend: up || Prices: 1723.35, 1755.36, 1787.13, 1848.57, 1724.24, 1804.91, 1808.91, 1738.43, 1734.45, 1839.09
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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.
|
[Technical Analysis for 2015-11-03]
BTC Price: 403.42, BTC RSI: 88.61
Gold Price: 1114.20, Gold RSI: 34.38
Oil Price: 47.90, Oil RSI: 58.04
[Random Sample of News (last 60 days)]
Bitcoin Takes A Hit In Australia: Bitcoin has gained popularity across the globe in recent years, but concerns about safety have kept the cryptocurrency from becoming a mainstream means of payment. For that reason, banks in Australia have begun to move away from cryptocurrency, deciding last month to close the accounts of 13 of the continent's 17 bitcoin exchanges.
The decision has had a ripple effect on the bitcoin industry in Australia as more and more businesses similarly turn their backs on digital currencies.
Bye-Bye Bitcoin
In Australia, many businesses began accepting bitcoin payments when the coin gained popularity. As the digital payments trend expanded, some firms hoped to use bitcoin in order to tap into a greater pool of potential clients and make it easier for international customers to pay. However, the nation's banks' decision to shut bitcoin exchanges out has led many Australian firms to rethink their decisions. Many worry that the banks are only the beginning of a backlash against cryptocurrencies, and that by participating in the trend they could tarnish their reputations.
Related Link:Bitcoin Gains Deeper Foothold In Latin America Through MercadoLibre
Big Blow To Cryptocurrencies
Although cryptocurrencies are still receiving a lot of positive attention in places like Europe and the US, the changing attitude in Australia could put a dent in the industry's momentum. Australia makes up around7 percentof bitcoin's $3.5 billion global value, a significant portion. Not only will a negative attitude toward bitcoin affect the Australian market, but it could spread further afield. Some worry that the negative reputation could eventually influence the opinions of consumers and lawmakers in other countries as well.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || New Website Could Become The Playboy Of Pot: This week, the marijuana industry saw rapper Snoop Dogg announce a new marijuana lifestyle platform called Merry Jane. Snoop unveiled his intentions while joking about the marijuana culture and promising to feature smoking celebrities recounting their first pot experiences. While the site is likely to appeal to college students and even young adults who are a part of the marijuana culture that Snoop Dogg represents, it will do little to draw in thousands of other users like the elderly, working professionals and athletes. Civilized Pot Enter Civilized . On Tuesday, startup Saint Johns Revolution Strategy launched a new website called Civilized which targets marijuana's "high brow" users. The company's founder and publisher Derek Riedle said that the site's style is designed to appeal to the underserved pot market-- working professionals who aren't defined by marijuana usage, but enjoy its effects to relax or be creative. Related Link: Is Snoop Dogg's Marijuana Platform Good For The Industry? Transforming Pot Perceptions The site includes pertinent topics relating to marijuana, but also encompasses broader lifestyle topics. Riedle wants the site to attract people based on their other interests as well, so it will include topics that may appeal to business people, teachers and athletes who happen to smoke marijuana in their free time. While marijuana-related sites are a dime-a-dozen at the moment, Civilized is hoping to appeal to an undeserved part of the marijuana movement. Some have likened the company's mission to that of Playboy, saying it takes something considered taboo or indecent and normalizes it. Funding So far, Civilized has gained the backing of 14 angel investors and is expected to continue growing once the content is monetized. At the moment, the stories are free, but Riedle is planning to support the site through advertising in the future. See more from Benzinga Bank Of America Prepares For Bitcoin Revolution European Investments, Greek Bonds Beginning To Look More Attractive U.S. Firms Brace For EU Ruling That Could Change The Way They Do Business © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || How To Invest In The Blockchain Boom: ROCHESTER, NY / ACCESSWIRE / October 27, 2015 / In 2014, Marc Andreessen, the famous Silicon Valley's venture capitalist, listed blockchain technology as the most important invention since the Internet itself. And if watching where savvy institutional investors place their bets is any indication of future potential, it looks like he may be right. Blockchain technology is arguably the hottest trend in modern finance. According to CoinDesk nearly 200 VC firms have invested more than $800 Million dollars in blockchain companies since 2012. Startups and VC's aren't the only ones all excited about blockchain either, well established mainstream companies are also investing heavily in Blockchain technology projects as well. Just last month 13 more banks joined a coalition lead by Goldman Sachs, JPMorgan, Credit Suisse, and Barclays of banks looking to take blockchain technology to the mainstream financial sector. These are big banks like Bank of America, BNY Mellon, Mitsubishi , UFJ Financial Group, Citi, Commerzbank, Deutsche Bank, HSBC, Morgan Stanley, National Australia Bank, Royal Bank of Canada, SEB, Societe Generale, and Toronto-Dominion Bank With so much buzz around betting on blockchain, it's no wonder that Main Street investors are now asking themselves how they can join Wall Street and Silicon Valley and invest in this technology in order to enjoy a piece of the profits from this 'next tech revolution'. Investing in Blockchain How you invest in Blockchain depends on how much risk you're looking to take and what kind of upside you are looking to reap. For conservative investors, the lower risk play is investing in the stocks of any of the major financial services companies that are increasingly experimenting with blockchain technology to improve the services they are able to offer clients at the same time as reducing costs because improving the customer experience and reducing costs is a sure fire way to improve earnings which will ultimately bring in buyers over the long haul. Story continues However, if you are willing to accept more risk in exchange for higher returns, invest in more pure Blockchain technology plays, like BTCS, Inc. (BTCS), Hashing Space Corporation (HSHSE), or Global Arena Holding, Inc. (GAHC). Of the bunch, we have our eye on Global Arena Holding Inc. GAHC. Global Arena Holding, Inc. announced Monday they have acquired a stake in New York City's Blockchain Technologies Corporation ("BTC"). BTC is a blockchain and cryptocurrency software technology company and startup accelerator with several startups and patents already in place. One of the startups in the accelerator is Blockchain Apparatus LLC., who is creating a voting application based on blockchain technology. This is very interesting because GAHC already operates in the voting space and their subsidiary would be the perfect vehicle to roll out this new technology to market giving GAHC a big leg up on the competition. Investing in Global Arena Holding Inc. may be a smart strategy because with one investment in GAHC you get multiple kicks at the cat. If any one of the Blockchain Technology portfolio companies hits it big GAHC shareholders will benefit as well. 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 here http://capitalgainsreport.com/disclaimer/ SOURCE: CapitalGainsReport.com || 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 expects sponsorship revenue to rise to over $1.3 billion; around a 15 percent increase. That figure is supported by the NFL's largest sponsors Verizon Communications Inc. (NYSE: VZ ), which spends around $250 million, PepsiCo (NYSE: PEP ) which shells out $200 million, and Anheuser-Busch InBev (NYSE: BUD ) and Microsoft 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 giant Nike Inc (NYSE: NKE ) will also benefit from this year's football season as the company has signed on to 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 both Walt Disney Co (NYSE: DIS ) and CBS 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 said advertisers are willing to pay up to $5 million for a coveted 30-second spot during the big game, a major revenue booster for the telecom. Story continues 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. || 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 to be major reserve currency by 2030: Research: Bitcoin(: BTC=)industry insiders have issued an optimistic prediction for the cryptocurrency over the next few decades, suggesting it could be as widely used as the Swiss franc or the Australian dollar.
U.K.-based Magister Advisors, which advises the technology industry on mergers and acquisitions, interviewed thirty of the leading bitcoin companies from across the globe. It found a consensus view that bitcoin will become the sixth largest global reserve currency within 15 years.
A reserve currency is a currency that is held in large amounts by governments and institutions as part of their foreign exchange reserves, with the U.S. dollar(Intercontinental Exchange US: .DXY)currently being the most popular.
Bitcoin is a virtual currency that allows users to exchange online credits for goods and services. It was trading at $374 on Tuesday morning, just off its year-to-date high, according to industry websiteCoinDesk. However, many observers believe the real value of the cryptocurrency lies in the technology behind the coin known as the blockchain, a public and transparent ledger of all bitcoin transactions.
The survey found that an estimated $1 billion will be spent by the top 100 financial institutions on blockchain-related projects over the next 24 months. Jeremy Millar, partner at Magister Advisors who led the research, said that the blockchain was the most significant advancement in enterprise IT in the last decade.
"We have now reached a fork in the road with bitcoin and blockchain. Bitcoin has proven itself as an established currency. Blockchain, more fundamentally, will become the default global standard distributed ledger for financial transactions," he predicted in an accompanying press release on Tuesday morning.
In September, 13 of the world's leading banks joined a project to explore the possibilities behind using a type of distributed ledger in the mainstream financial world. Institutions like Bank of America, Citi and Deutsche Bank joined others like Goldman Sachs and J.P. Morgan which had already signed up.
For many, it's the ledger that shows the real promise while the cryptocurrency itself is seen by some as having more of a shelf life. Aside from financials, the public ledger has a host of other useful applications. Pantera Capital in the U.S. is investing in a firm that is using the technology to help detect counterfeiting in the luxury goods industry. Simon Derrick, chief currency strategist at BNY Mellon, told CNBC via email Tuesday that he suspects the interesting part to the bitcoin story will be the underlying technology and whether it facilitates the introduction of truly digital currencies.
Bitcoin is also renowned for its volatility and has been heavily criticized for facilitating illegal activity, given that it can be used anonymously.
Jeffrey Robinson, the author of "BitCon: The Naked Truth about Bitcoin" is one such notable critic. He has told CNBC previously that he believes it is a "pretend currency masquerading as a pretend commodity" and says bitcoin advocates are akin to "snake oil salesmen."
The report by Magister Advisors on Tuesday directly tackled this issue of volatility. It said that the primary usage of bitcoin today in developed markets was for speculation. The survey's respondents estimated that 90 percent of bitcoin by value is being held for speculation, not for commercial transactions.
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• Personal Finance || Medical Marijuana May Help Transplant Patients: In recent years, the use case for marijuana for medicinal reasons has expanded exponentially. As the drug becomes widely accepted across the US, more research has been done to better understand the effects of marijuana on certain ailments.
Everything from Alzheimer's to Epilepsy is said to benefit from the components of a marijuana plant and now a newstudyshows that the drug which has long disqualified patients from receiving a transplant could actually aid in their recovery.
Mouse Study
Scientists at the University of South Carolina have found that Tetrahyrodcannabinol, the psychoactive component of marijuana, may help to delay the rejection of organs in transplant patients. The study examined the effects of THC on mice that received skin grafts and found that those exposed to the drug were better able to accept a foreign graft.
Related Link:Marijuana-Specific Doctors Can Make It Difficult To Take Medical Marijuana Seriously
New Uses
Based on this data, scientists believe that THC suppresses a patient's immune response, something that could prove beneficial for transplant patients or those struggling with other inflammatory diseases. For marijuana supporters, the data represents another reason why federal laws should be relaxed in order to make studies like this one more accessible.
Still Some Concerns
Much like many other studies touting the effectiveness of marijuana treatments, the scientists at the University of South Carolina cautioned that the results don't tell the whole story. So much is unknown about how marijuana affects the human body that the possibility of using THC in this capacity for humans any time soon is slim. However, it illuminates a new use case and will likely encourage researchers to continue finding ways to use marijuana components to fight illnesses and improve patients' quality of life.
See more from Benzinga
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• Charlie Shrem Weighs In On Bitcoin From His Prison Cell
• China's Weakness Isn't All Bad
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Cable & Wireless Communications Scores With Exclusive Premier League Football Rights From Seasons 2016/17 to 2018/19: MIAMI, FL--(Marketwired - Oct 7, 2015) - Starting next season, the Premier League will have a new home in the Caribbean. Cable & Wireless Communications Plc (CWC) today announced that it has won the exclusive rights to broadcast live all 380 matches per season of the Premier League across 32 Caribbean countries from 2016/17 to 2018/19. Commencing in August 2016, the Premier League will be available on the Caribbean's newest sports network -- Flow Sports . CWC was also awarded the mobile clip rights, allowing fans to follow the latest goals and action from the world's best football league on any mobile device. The extensive coverage of live Premier League matches will form the centerpiece of Flow Sports' programming schedule. The network will be launched in November 2015, with content that includes coverage of international and regional football, cricket, rugby, tennis and athletics, as well as CWC's exclusive NFL and Rio 2016 Olympics coverage. Flow Sports will broadcast across the region from a new 4-K-ready, state-of-the-art facility in Trinidad, offering 24/7 sports coverage in HD. Commenting on the exclusive rights award, John Reid, President of CWC's Consumer Division said: "We are thrilled to partner with the Premier League across the Caribbean. As the most popular league of the world's greatest sport, the Premier League will be at the heart of Flow Sports, the region's newest and largest sports network. We are excited as well to bring additional jobs, skills and investment into the Caribbean with our new Trinidad facility, truly showcasing the power of the new Cable & Wireless and our commitment to the region." CWC's market research has shown that sports programming is a key decision driver for customers purchasing TV and broadband packages. Approximately 70% of customers identify as being 'sports fans,' with the Premier League dominating sports viewing in the Caribbean. Reid added: "As the region's leading quad play operator, we look forward to bringing Caribbean sports fans closer to the action with our innovations in mobile and online viewing. With our Flow ToGo application and access to mobile clips, fans won't miss any of the excitement that truly defines this tremendous sports asset. Flow Sports will be available in our basic subscription package, meaning more games for more fans, and instantly positioning Flow as the home of sports in the Caribbean." Story continues Phil Bentley, Chief Executive of Cable & Wireless Communications said: "Following our merger with Columbus and our re-branding to Flow, the agreement with the Premier League is yet another example of the growing momentum building across the Caribbean, delivering significant additional revenue synergies through cross-selling and upselling, as well as improving customer loyalty. This is set to accelerate over the next few years." Richard Scudamore, Chief Executive of the Premier League said: "We are very pleased that Cable & Wireless Communications has chosen to invest in Premier League broadcasting rights in the Caribbean. "We look forward to welcoming them as a new partner and are sure they will do excellent job making the competition available to fans across the region." About Cable & Wireless Communications: Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity. CWC has more than 7,000 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; TV 460k and Broadband 665k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information please visit: http://www.cwc.com About the Premier League: The Barclays Premier League is the most-watched, continuous, annual sporting event in the world. Last season 13.9 million fans attended matches with record average stadium occupancy of 95.9%. Across nine months of the year, 380 matches are viewed in 185 countries with coverage available in over 725 million households. || Bitcoin Investor, Taking Things to a New Level: Bitcoin Exchange Offices to Be Opened in 6 Countries: WILMINGTON, DE --(Marketwired - November 01, 2015) - Digital currency markets, especially those of Bitcoin, continue to be surrounded by a lot of hype these days and while some skeptics claim that Bitcoin will always remain the currency of the future, without ever embodying that so much expected future, the tech industry businessmen who take the enthusiast side are putting money down on the table to invest in Bitcoin and the development of the opportunity they see attached. Miners Center Inc., a Delaware based cryptocurrency trading company, has taken bold action in the direction of digital currency, as they do not only see it being in a sweet spot, but they also believe it will deliver according to Bitcoin believers' expectations in the near future. Since it has been established in 2014, the company has been buying large amounts of Bitcoin, at higher market price, in order to achieve their targeted volumes for what is boldly outlined within their business plan as the next step. By the end of Q4, Miners Center will have opened ten small Bitcoin exchange offices throughout the globe: three of them in the USA, two in Canada, two in Australia, one in the UK, one in Germany and one in Hungary. Although the company has planned everything in detail, specific information related to the exact location of the exchange offices and their operational means will be revealed at their actual launching, which will be handled by the company with proper PR and marketing exposure. However, besides the news of taking things further with Bitcoin, Miners Center does state that the rates policy within the physical exchange offices will not bring over-the-market-price revenues to its clients, as the company's actual customers have been accustomed up to this point. The current 10% higher-than-the-market-price rate for Bitcoin purchase offered by Miners Center via their official web-site ( www.minerscenter.com ) has taken so far the shape of a different business unit within the company, governed by a targeted volume-buying strategy and both the exclusively buyer orientation and hot offer itself, will be discontinued as soon as the company reaches enough Bitcoin resources to start operating what was intended as their core business in the first place. Miners Center state that they are very close to reaching the desired purchase volumes and such turn is expected in the near future. 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 || 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 to reduce their water use by 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 like Monsanto Company (NYSE: MON ), E I Du Pont De Nemours And Co (NYSE: DD ) and Syngenta 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, and Rexnord 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. View comments
[Random Sample of Social Media Buzz (last 60 days)]
LIVE: Profit = $10,454.35 (4.50 %). BUY B746.51 @ $310.09 (#BTCe). SELL @ $324.00 (#Bitfinex) #bitcoin #btc - … pic.twitter.com/5F11jtQLth || 1 #bitcoin 689.49 TL, 232.127 $, 205.599 €, GBP, 15360.00 RUR, 28243 ¥, CNH, 311.65 CAD #btc || Current price: 296.36€ $BTCEUR $btc #bitcoin 2015-11-02 00:00:04 CET || Current price: 245.75$ $BTCUSD $btc #bitcoin 2015-10-10 16:00:02 EDT || #RDD / #BTC on the exchanges:
Cryptsy: Error
Bittrex: 0.00000004
Average $9.0E-6 per #reddcoin
18:15:00 || Current price: 243.76$ $BTCUSD $btc #bitcoin 2015-10-08 18:00:06 EDT || In the last 10 mins, there were arb opps spanning 14 exchange pair(s), yielding profits ranging between $0.00 and $276.24 #bitcoin #btc || Current price: 227.61$ $BTCUSD $btc #bitcoin 2015-09-14 00:20:01 EDT || Current price: 220.27€ $BTCEUR $btc #bitcoin 2015-10-06 22:00:04 CEST || Bitcoin traded at $230.79 USD on BTC-e at 04:00 AM Pacific Time
|
Trend: down || Prices: 411.56, 386.35, 374.47, 386.48, 373.37, 380.26, 336.82, 311.08, 338.15, 336.75
|
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 2022-10-17]
BTC Price: 19550.76, BTC RSI: 50.62
Gold Price: 1657.00, Gold RSI: 43.06
Oil Price: 85.46, Oil RSI: 47.83
[Random Sample of News (last 60 days)]
Can Ex-Democrat Tulsi Gabbard Bail Out This Election Denier?: Photo Illustration by Thomas Levinson/The Daily Beast/Getty Don’t mind the polls or the millions of dollars in ad buys being pulled from the Granite State's airwaves. And pay no attention to the massive fundraising advantage held by Democratic Sen. Maggie Hassan, for help is on the way for Republicans in New Hampshire’s messy Senate race. Former Hawaii congresswoman and 2020 Democratic presidential candidate—and now, former Democrat —Tulsi Gabbard will be stumping alongside floundering GOP Senate nominee Don Bolduc. Gabbard entering the fray may provide a spark of novelty to the Bolduc campaign, but her seventh place finish in the 2020 New Hampshire primary and relatively niche status as a political celebrity on the right likely won’t be enough to move the needle among the group of voters Republicans need the most. “Most independents up here don’t know who Tulsi Gabbard is,” Dante Scala, a political science professor at the University of New Hampshire, told The Daily Beast. “I think it’s more about trying to stoke base voter enthusiasm as opposed to winning over independents.” The retired congresswoman announced her plans to leave the party in a video she tweeted on Tuesday—which was also part of her podcast launch —saying the Democrats are “now under the complete control of an elitist cabal of warmongers driven by cowardly wokeness, who divide us by racializing every issue and stoke anti-white racism.” Tucker Fawns Over Tulsi: Every Republican Should Sound Like You A recently departed Democrat who finished between businessmen Tom Steyer and Andrew Yang in the last presidential primary isn’t exactly the type of bold-faced nameNew Hampshire Republicans imagined, either. After all, just this week Sens. Rick Scott (FL) and Tom Cotton (AR) flew in to Georgia to help boost scandal-plagued GOP nominee Herschel Walker. In fact, rather than give Bolduc a hand, Senate Republicans’ main campaign arm pulled its ads from the Granite State race last week, and Hassan’s lead has grown to an average of 7.8 points, according to FiveThirtyEight ’s rolling average. Meanwhile, Republican Gov. Chris Sununu has a double-digit lead over his opponent. “I guess we’re pulling out all the stops here,” a high ranking New Hampshire Republican told The Daily Beast with a chuckle. “It’s gonna be a real test of party unity.” Scala noted that if a voter does know who Gabbard is, they likely follow political news quite closely, which leaves a slim statistical chance that this hypothetical voter isn’t already sorted into an ideological camp. “I understand she’s got a profile on Fox News and appears there, so for Bolduc, if they’re campaigning together, it’s possible that these voters will wanna come out and wanna see Gabbard in person, and Bolduc is along for the ride,” he added. Story continues Gabbard’s events in the 2020 primary were often well attended and she even rented a home outside of Manchester for a stretch of the campaign, but many attendees identified as Republicans —often full Trump supporters. The Bolduc campaign would not say when Gabbard will begin appearing with the retired brigadier general and on-and-off-again election denier , but they touted the Fox News mainstay’s support on Wednesday. (The campaign also declined to detail what the candidate’s current position is on the validity of the 2020 election results.) “We don’t agree on every issue, but I am honored to have the support of Tulsi Gabbard who shares my view that the status quo is broken, and we need a change of direction,” Bodluc said in a press release. “Tulsi is a fellow change agent and independent-minded outsider willing to speak truth to power.” But Gabbard’s reappearance on the New Hampshire stage has excited some of her early backers in the Granite State, but it wasn’t clear whether Bolduc would ultimately reap the benefit. Election Denier Don Bolduc Wins Republican Nomination in New Hampshire “It's not surprising to see Tulsi supporting Bolduc,” Eric Jackman, a podcast host and former Republican who often accompanied Gabbard around the state during her 2020 bid, told The Daily Beast. “During my year on the trail in NH with Tulsi, her message resonated with a wide swath of the electorate … Veterans especially were very open and friendly to Tulsi's message of shutting down the forever wars and investing in our country's needs.” The longtime Tulsi-stan from Peterborough didn’t go as far as to say his political hero stumping for Bolduc would make him vote for the GOP nominee, whom he voted against in August’s primary in favor of libertarian Bitcoin enthusiast Bruce Fenton. The high-ranking New Hampshire Republican, who requested anonymity because they are not authorized to speak on behalf of candidates, said the party’s best hope is for non-MAGA Republicans and independent voters to start “changing their mindset so they’ll vote for a Republican, even if he’s not a great Republican.” The GOP operative bemoaned that Bolduc has been changing his answers on the 2020 election depending on the room he’s in, sometimes “forgetting reporters are there.” They added that assurances had been made to other top New Hampshire Republicans that Bolduc’s new campaign manager, Parker Carey—who led former Trump official Matt Mowers’ failed bid against Karoline Leavitt in New Hampshire’s 1st Congressional District—had instructed Bolduc to stick with his message that, upon further research, he concluded the election wasn’t stolen. That hasn’t happened, and the anxiety behind the scenes hasn’t subsisted. “I hear a lot of people saying, ‘I’m gonna hold my nose and vote,’” the Granite State GOP operative said, “but I just don’t know if it’ll happen at the polls.” Read more at The Daily Beast. Get the Daily Beast's biggest scoops and scandals delivered right to your inbox. Sign up now. Stay informed and gain unlimited access to the Daily Beast's unmatched reporting. Subscribe now. View comments || Dow slides 300 points as investors brace for rate-hike decision from the Federal Reserve: Federal Reserve Chairman Jerome Powell. Xinhua/Liu Jie via Getty Images US stocks closed lower Tuesday with the Dow Jones Industrial Average shedding more than 300 points. Investors remain fixated on the central bank ahead of the next rate hike announcement on Wednesday. The 2-year Treasury yield surged as high as 3.983% intraday, the highest since 2007. US stocks finished lower Tuesday as investors anxiously await interest rate guidance from the Federal Reserve's policy meeting. Stocks are under pressure from an anticipated 75-basis-point rate hike from the central bank, which will announce its policy decision Wednesday. The 2-year Treasury yield, which is sensitive to Fed moves, surged as high as 3.983% intraday to hit the highest rate since 2007. The 10-year yield climbed as high as to 3.593%, the highest since April 2011. Investors were further unsettled by a potential escalation in Russia's war on Ukraine that sent stocks in Moscow crashing. Here's where US indexes stood after the 4:30 p.m. closing bell on Tuesday: S&P 500 : 3,855.93, down 1.13% Dow Jones Industrial Average : 30,706.23, down 1.01% (313.45 points) Nasdaq Composite : 11,425.05, down 0.95% Here's what else to know: A Fed rate hike of 100 basis points would spur more turmoil in markets and add to inflation fears, according to Carlyle Group co-founder David Rubenstein The Fed should stay hawkish , though, and remain steadfast in its goal of taming inflation if forthcoming CPI prints remain high, crypto bull Mike Novogratz said. Meme stocks are still among Robinhood users' favorites , with AMC and GameStop both making the top 10 for the trading platform. In commodities, bonds and crypto: Oil slid further with West Texas Intermediate slipping 1.53% to $84.42. International benchmark Brent crude fell 1.57% to $90.59. Gold dipped 0.68% to $1,664.75 an ounce. 10-year yield rose 8.4 basis points to 3.573%. Bitcoin added 0.73% to $19,043.29. Read the original article on Business Insider || Do Kwon denies $39.9M worth of frozen crypto assets while facing passport revocation: Do Kwon, one of the co-founders of the now-defunct Terraform Labs, has slammed reports from South Korea claiming that prosecutors have recently frozen an additional $39.9 million worth of his cryptocurrency assets. Replying to CoinDesk on Wednesday, Kwon, 31, denied the allegations that his assets were frozen, stating that he does not utilize Kucoin and OKX. I don't get the motivation behind spreading this falsehood - muscle flexing? But to what end? Once again, I don't even use Kucoin and OkEx, have no time to trade, no funds have been frozen. More from NextShark: Viral video of Singaporean man slapping a woman after she kicked his car spurs debate I don't know whose funds they've frozen, but good for them, hope they use it for good 🙏 https://t.co/gSucKfqsxj — Do Kwon 🌕 (@stablekwon) October 5, 2022 More from NextShark: Historic campaign rally of Philippine presidential candidate gets nods from Bretman Rock, Ariana Grande “I don't get the motivation behind spreading this falsehood – muscle flexing? But to what end?” Kwon, born Kwon Do-hyung, wrote on Twitter. “Once again, I don't even use Kucoin and OkEx, have no time to trade, no funds have been frozen.” “I don't know whose funds they've frozen, but good for them, hope they use it for good.” Kwon’s latest post was in response to a report from News1 claiming that South Korean prosecutors had recently frozen an additional 56.2 billion won (approximately $39.9 million) worth of his cryptocurrency assets. More from NextShark: Indonesian Man Plants 11,000 Trees Over 24 Years to Create a New Forest South Korean authorities allegedly put out a request to freeze Kwon’s 3,313 bitcoin (BTC) worth around $66.8 million after discovering that the cryptocurrencies were moved to his purported Kucoin and OKX crypto wallets, according to CoinDesk Korea on Sept. 27. Story continues The transfer of assets reportedly happened shortly after the South Korean government issued an arrest warrant for Kwon and several others tied to the defunct cryptocurrencies Luna and TerraUSD (UST) on Sept. 14. Interpol subsequently issued a red notice for the crypto entrepreneur days after the arrest warrant was issued. Kwon and five other individuals linked to Terraform Labs are facing charges for violating South Korea’s Capital Markets Act for the $60 billion meltdown of the company’s cryptocurrencies in May. More from NextShark: Florida woman who pepper-sprayed Asian women in NYC indicted on hate crime charges On Wednesday, South Korean authorities declared that Kwon has 14 days to hand back his passport or they will revoke it, Bloomberg reported. Terraform Labs’ Head of General Affairs Yoo Mo was also arrested on Wednesday , making the executive the first person to have been taken in custody since the launch of the Terra investigation in late May. Although district prosecutor Choi Sung-kook confirmed the arrest , officials refused to give specific details regarding where and when Yoo was arrested. The Terra executive is facing several charges for violating South Korea’s Capital Markets Act, including fraud and breach of duty. Featured Image via Terra / CNBC || Hashdex Introduces the Worlds First 33 Act Bitcoin ETF: Hashdex AG Builds on Hashdexs History of Developing Innovative Offerings to Meet the Needs of Global Investors New York / Rio de Janeiro / London, September 15, 2022 Hashdex , an innovative leader in crypto asset management, today announced the launch of the Hashdex Bitcoin Futures ETF (ticker: DEFI), the worlds first Bitcoin Futures ETF (exchange-traded fund) registered solely under the Securities Act of 1933 (33 Act). The Hashdex Bitcoin Futures ETF, developed with Teucrium Trading, LLC (Teucrium), a 33 Act fund specialist focused on commodities funds; and Victory Capital Management Inc. (Victory Capital), a global asset manager with $159.1 billion in assets under management as of August 31, 2022, will be available on NYSE Arca under the ticker symbol DEFI beginning Friday, September 16. The launch of the Hashdex Bitcoin Futures ETF showcases Hashdexs ongoing commitment to delivering investors with innovative and regulated products and services that allow them to gain exposure to the digital asset class, said Marcelo Sampaio, Co-Founder & CEO of Hashdex. Todays news marks a significant milestone for our firm as we continue to introduce additional products and services - both in the U.S. and globally - that help meet the specific needs of all types of individual and institutional investors. Legacy of Market Leading Innovation Hashdex is a leader in developing industry-first crypto offerings that enable global investors to participate in the crypto ecosystem. As part of its mission to reach more investors across the globe, the firm continues to expand globally, with offices in Brazil, the United States, and Europe. In partnership with Nasdaq, Hashdex co-developed the Nasdaq Crypto Index (NCI), which benchmarks the institutionally investable crypto market. The firm also partnered with Victory Capital to distribute crypto products in the U.S., including a private crypto fund for accredited investors. Industry-First 33 Act ETF The Hashdex Bitcoin Futures ETF (DEFI) marks the firms first ETF registered with the U.S. Securities and Exchange Commission (SEC) and represents a major step in Hashdexs ongoing commitment to providing investors access to the crypto space through the best possible product structures allowed by regulators. As the Digital Asset Advisor, Hashdex is responsible for providing the partners with research and analysis regarding bitcoin and bitcoin markets for use in the operation and marketing of DEFI. Story continues At Hashdex, we have an unwavering dedication to consistently find innovative ways of building products that provide investors with options to gain crypto exposure - our latest product, DEFI, does just that by honoring Bitcoin as what we believe is the foundation of the Decentralized Finance revolution, said Bruno Sousa, Head of U.S. at Hashdex. We are thrilled to join with best-in-class providers, Teucrium and Victory Capital, to introduce this first-of-its-kind investment vehicle. Furthermore, it has a different tax treatment than the '40 Act Bitcoin futures ETFs - the Prospectus details more information. We are excited to continue working with Hashdex as part of our shared mission of delivering new solutions for a relatively new asset class to U.S. investors," said Mannik Dhillon, President of VictoryShares and Solutions for Victory Capital. For more information, please visit https://hashdex-etfs.com/ The prospectus can be found at http://hashdex-etfs.com/public/prospectus.pdf ### About Hashdex Hashdex is a global pioneer in crypto asset management. Hashdex invites innovative investors to join the emerging crypto economy. Hashdexs mission is to provide educational resources and best-in-class products that advance its efforts to help build pathways by opening the crypto ecosystem to the world. The firm co-developed the Nasdaq Crypto Index (NCI) with Nasdaq to provide global investors with a reliable benchmark for the crypto asset class. In 2021, Hashdex introduced the worlds first crypto ETFs and other innovative products, enabling over 260,000 investors to simply and securely add crypto to their portfolios. For more information visit www.hashdex.com or follow Hashdex on Twitter or LinkedIn . About Victory Capital Victory Capital is a diversified global asset management firm with $159.1 billion in assets under management as of August 31, 2022. The Company operates a next-generation business model combining boutique investment qualities with the benefits of a fully integrated, centralized operating and distribution platform. Victory Capital provides specialized investment strategies to institutions, intermediaries, retirement platforms and individual investors. With 12 autonomous Investment Franchises and a Solutions Platform, Victory Capital offers a wide array of investment products, including mutual funds, ETFs, separately managed accounts, alternative investments, third-party ETF model strategies, collective investment trusts, private funds, and a 529 Education Savings Plan. For more information, please visit www.vcm.com Teucrium Trading LLC Teucrium Trading is an ETF provider focused with a mission to empower investors with the knowledge and tools necessary to intelligently design well-diversified portfolios. Additionally, Teucrium provides Commodity Trading Sub-Advisor services for fund sponsors interested in partnering with an experienced team to help launch and/or manage ongoing fund operations. Teucriums suite of Exchange Traded Products has revolutionized the way commodity ETFs are structured; products are widely available to investors and advisors in traditional brokerage accounts. Media Contacts: Kendal Till/Josh Gerth Dukas Linden Public Relations [email protected] Jack S. Song Hashdex [email protected] Important information : Certain information contained herein has been obtained from third-party sources and such information has not been independently verified by Hashdex, Teucrium and Victory Capital. No representation, warranty, or undertaking, expressed or implied, is given to the accuracy or completeness of such information by Hashdex, Teucrium, Victory Capital or any other person. All information regarding the Fund strategy is based on information provided either in writing or verbally, and on both a formal and informal basis, from underlying Funds and/or other resources available to Hashdex, Teucrium and Victory Capital. Hashdex, Teucrium and Victory Capital have not necessarily made any attempt to verify all such information and do not guarantee the accuracy of any such information. None of the investments discussed in this document should be viewed as an investment recommendation and are provided for illustrative purposes only. Fund Description The Fund is a commodity pool that issues Shares that may be purchased and sold on NYSE Arca. The Funds investment objective is for changes in the Shares NAV to reflect the daily changes of the price of the Benchmark, less expenses from the Funds operations. Under normal market conditions, the Fund invests in Benchmark Component Futures Contracts and cash and cash equivalents. Because the Funds investment objective is to track the price of the Benchmark by investing in Benchmark Futures Contracts rather than bitcoin, changes in the price of the Shares will vary from changes in the spot price of bitcoin. The Fund will invest in BTC Contracts and MBT Contracts to the extent necessary to achieve maximum exposure to the bitcoin futures market. Because the Funds investment objective is to track the price of the Benchmark by investing in Benchmark Futures Contracts rather than bitcoin, changes in the price of the Shares will vary from changes in the spot price of bitcoin. The Fund employs Foreside Fund Services, LLC as the Distributor for the Fund. The Distribution Services Agreement among the Distributor, the Sponsor, and the Trust calls for the Distributor to work with the Custodian in connection with the receipt and processing of orders for Creation Baskets and Redemption Baskets and the review and approval of all Fund sales literature and advertising material. The Distributors principal business address is Three Canal Plaza, Suite 100, Portland, Maine 04101. The Distributor is a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) and a member of FINRA. The Fund is a series of the Teucrium Commodity Trust (the Trust). The sponsor to the Fund is Teucrium Trading, LLC (the Sponsor), which receives a management fee. The Sponsor is registered as a commodity pool operator (CPO) and a commodity trading adviser (CTA) with the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA). Hashdex Asset Management Ltd. (Hashdex) will serve as the Funds Digital Asset Adviser and will assist the Sponsor and Marketing Agents with research and investment analysis regarding bitcoin and bitcoin markets for use in the marketing of the Fund. Hashdex will also provide the Fund with marketing services including, but not limited to, branding, the issuance of press releases, preparation of website data content, holding promotional webinars and engaging in promotional activities through social media outlets. Hashdex has no responsibility for the investment or management of the Funds investment portfolio or for the overall performance or operation of the Fund. For more information pertaining to the relationship of companies involved in the Fund please read the prospectus. Bitcoin Risks Bitcoin and bitcoin futures are a relatively new asset class and the market for bitcoin is subject to rapid changes and uncertainty. Bitcoin and bitcoin futures are subject to unique and substantial risks, including significant price volatility and lack of liquidity. The value of an investment in the ETF could decline significantly and without warning, including to zero. You should be prepared to lose your entire investment. The ETF does not invest directly in or hold bitcoin. The price and performance of bitcoin futures should be expected to differ from the current spot price of bitcoin. These differences could be significant. Bitcoin futures are subject to margin requirements, collateral requirements and other limits that may prevent the ETF from achieving its objective. Margin requirements for futures and costs associated with rolling (buying and selling) futures may have a negative impact on the funds performance and its ability to achieve its investment objective. Bitcoin is largely unregulated and bitcoin investments may be more susceptible to fraud and manipulation than more regulated investments. Bitcoin and bitcoin futures are subject to rapid price swings, including as a result of actions and statements by influencers and the media. Futures Risk Commodities and futures investing is generally volatile and risky which may not be suitable for all investors . Futures may be affected by Backwardation: a market condition in which a futures price is lower in the distant delivery months than in the near delivery months. As a result, the fund may benefit because it would be selling more expensive contracts and buying less expensive ones on an ongoing basis; and Contango : A condition in which distant delivery prices for futures exceeds spot prices, often due to costs of storing and inuring the underlying commodity. Opposite of backwardation. As a result, the Funds total return may be lower than might otherwise be the case because it would be selling less expensive contracts and buying more expensive one. Commodities and futures generally are volatile, and instruments whose underlying investments include commodities and futures are not suitable for all investors. This material must be preceded or accompanied by a prospectus. Please read the prospectus carefully before investing. To obtain a current prospectus visit the link below: http://hashdex-etfs.com The Fund is a commodity pool regulated by the Commodity Futures Trading Commission. The Fund, which is an ETP, is not a mutual fund or any other type of investment company within the meaning of the Investment Company Act of 1940, as amended, and is not subject to regulation thereunder. Because the Fund will invest primarily in BITCOIN futures contracts and other derivative instruments based on the price of BITCOIN, an investment in the Fund will subject the investor to the risks of the BITCOIN market, and this could result in substantial fluctuations in the price of the Funds shares. Shares of the Fund are not insured by the Federal Deposit Insurance Corporation (FDIC), may lose value and have no bank guarantee. Unlike mutual funds, the Fund generally will not distribute dividends to its shareholders. Investors may choose to use the Fund as a means of investing indirectly in bitcoin, and there are risks involved in such investments. This material is not an offer or solicitation of any kind to buy or sell any securities outside of the United States of America. Definitions: The Benchmark is HDEFI HASHDEX U.S. BITCOIN FUTURES FUND BENCHMARK INDEX, the average of the closing settlement prices for the first to expire and second to expire Bitcoin Futures Contracts listed on the CME. The index is calculated and disseminated by ICE DATA INDICES, LLC. || Singapores Lee Family Scions Make Crypto Push With New Funds: (Bloomberg) -- Scions from two of Singapores most prominent families are boosting their involvement in digital assets. Most Read from Bloomberg Terra Co-Founder Do Kwon Faces Arrest Warrant in South Korea Stocks Rise as Dip Buyers Win Tug of War Over Fed: Markets Wrap US Inflation Tops Forecasts, Cementing Odds of Big Fed Hike Xi Returns to World Stage With Putin to Counter US Dominance Ugly Selloff Pushes Stocks Down Most Since 2020: Markets Wrap Whampoa Group, a multi-family office anchored by principals from the Lee family that founded Oversea-Chinese Banking Corp. and Amy Lee, the niece of the city-states founding prime minister, wants to spin out its asset-management business for digital investments. It plans to raise $50 million for a crypto-related hedge fund, and is seeking to deploy $100 million for a venture-capital fund in the same space, Whampoa co-founder and Chief Executive Officer Shawn Chan said in an interview. Family offices tend to be less regulated than standard firms and are among the bigger players that have been looking to get into alternative investments. In Singapore, the wealthy in particular have been embracing tokens, helping propel Bitcoin trading at DBS Group Holdings Ltd.s digital exchange that serves institutional investors and family offices. At the same time, however, the countrys authorities have repeatedly discouraged retail investors from betting on crypto, a space thats been particularly volatile. Bitcoin has tanked by more than two-thirds after a years-long rally took it to a peak in November. The Whampoa hedge fund is market-neutral in order to offset cryptocurrencies volatility, Chan said. It primarily trades Bitcoin and Ether, and occasionally other tokens when it identifies a favorable risk-reward setup. As for the VC fund, Whampoa is looking for strategic partners. It has been speaking with regional family offices and some big Chinese internet companies, Chan said. (Updates with Bitcoin trading in fourth paragraph) Story continues Most Read from Bloomberg Businessweek The Ethereum Merge Ups the Stakesand Reshapes the Crypto Universe Chinese Manufacturers Get Around US Tariffs With Some Help From Mexico Its White-Collar Jobs That Are at Risk in the Next Recession A Dubious Truck, a Whistleblower Army, and Inept Spies: Inside the Very Weird Nikola Saga Teslas Autopilot Heads to Trial ©2022 Bloomberg L.P. || Inside a Social DAO: How an Online Community Becomes a Digital City: If I was part of any DAO, I would want it to be “Friends With Benefits.” It is just so darn cool. As a vortex of creative energy and cultural innovation, the purpose of its existence seems to be to have fun. FWB is a curated decentralized autonomous organization (DAO) filled with DJs, artists and musicians with banging distribution channels for writing, non-fungible token (NFT) art and more. FWB’s vision is to equip cultural creators with “the community and Web3 tools they need gain agency over their production” by: Making the concepts and tools of Web3 more accessible Building diverse spaces and experiences that creatively empower participants Developing tools, artwork and products that showcase Web3’s potential The DAO has already made significant progress towards this mission, with some of its members finding major success in the art world. One example is Eric Hu, whose generative AI butterfly art “Monarch” raised $2.5 million in presale funds alone. Kelsie Nabben is the recipient of a PhD scholarship at the RMIT University ARC Centre of Excellence for Automated Decision-Making & Society and a researcher in the Blockchain Innovation Hub and Digital Ethnography Research Centre. She actively contributes to open-source research network Metagov and DAO Research Collective. The DAO crosses from the digital realm to the physical via its members-only ticketed events around the world, including exclusive parties in Miami , Paris and New York . The latest of these events was “FWB Fest,” a three-day festival in a forest two hours east of Los Angeles. FWB wants to grow in a decentralized way by having its members run local events around the world based on the FWB Fest model. But the problem is that FWB’s governance and funding isn’t exactly decentralized, which is paradoxical to its mission. A social DAO The DAO essentially meets online via the chat app Discord, where it has various interest channels including fashion, music and art. FWB is the native token of the DAO, and anyone with 5 FWB can become a local member, which grants them access to Discord channels, a newsletter, livestreamed event content and other semi-exclusive perks. To become a global member, one must fill out an application, pass an interview with one of the 20-30 rotating members of the FWB Host Committee, and then purchase 75 FWB at market price. Membership also provides access to a token-gated event app called Gatekeeper , an NFT gallery , a Web3-focused editorial outlet and in-person party and festival events. According to the community dashboard , the current treasury is $18.26 million. Story continues See also: Bitcoin Is Macro, but Not ‘Correlated’ in the Way You Think | Opinion FWB started as an experiment amongst friends in the creative industries who wanted to learn about crypto. The original founder of the DAO is a hyper-connected Los Angeles music artist and entrepreneur named Trevor McFedries. While traveling as a full-time band manager, he followed the rise of bitcoin, using his paid time off to locate bitcoin ATMs and talk to weird internet people. Trevor wanted to run an experiment by “airdropping” a made-up cryptocurrency token to his influencer and community-building friends. He knew a lot of people deep in tech, venture capital and creative spaces, and soon FWB took off. According to early core team member Jose, Trevor is “not around anymore” but showed up at FWB Fest and was “just blown away” at the growth and progress of the project. The FWB team realized it was becoming more legitimate as more and more people wanted in during the DAO wave of 2021-2022. COVID-19 only compounded this, as people longed for social connection while in quarantine. When those interested in joining extended beyond friends of friends, FWB launched an application process. Now, the DAO has nearly 6,000 members around the world. FWB Fest was described as “an immersive conference and festival experience at the intersection of culture and Web3,” aka two days of non-stop friends and benefits in a forest in Idyllwild, two hours east of Los Angeles. With a vision for an online community to meet offline to forge a “digital city IRL,” the event was set to be the Web3 retreat of the year. Read more: What DAO Governance Has in Common With the ‘Eggheads’ Who Call a Recession | Opinion Building a digital city The story of how I got to FWB Fest is the same as everybody else’s. I first got connected through a friend who told me about the FWB Discord. One of the core team members from FWB, Jose, then invited me to speak at FWB Fest based on a piece I wrote for CoinDesk on crypto and live-action role playing (LARPing). FWB members on Twitter officially nicknamed the event “LARP FOREST.” LARPing refers to games where participants physically portray characters by wearing costumes, assuming personas, and pursuing goals within real-world environments while interacting with other players in character. LARPs can range in size from a few participants to large public events with thousands of people. Games can be designed for educational or political purposes with the goal of awakening or shaping thinking. Ultimately, they can change how we organize and interact across digital and physical spaces. In this way, FWB Fest served as a LARP in cultural innovation, peer-to-peer economies, and decentralized self-governance. The vision of FWB Fest was to build an immersive offline town. As the FWB team wrote in an email newsletter leading up to the festival: “What happens when a Discord group chat moves into a 200 acre Arts Academy in the woods? Join us at FWB FEST, where our digital internet city will come to life for three days and turn into an offline town.” At first, the idea of FWB community members buying a ticket to hear an academic like me speak was amusing. But then I noticed the other speakers – including Kei Kruetler, author and innovator at Gnosis Guild; Glen Weyl, infamous co-author with Vitalik Buterin and radical markets crypto-politician; and Pussy Riot, the feminist band that got arrested for playing punk music in a church in Moscow in protest against President Vladimir Putin. Why were researchers, radical politics advocates and feminist activist bands being recruited to speak at a festival? When I heard that attendees were also contributing their creative talents, I wanted to as well. So I decided to create an ethnography of the FWB community and answer the question: What is the purpose of a social DAO? The road to Idyllwild As I drove my rental car to the Idyllwild Arts Academy, I wondered why people had come from all around the world to be here. Was this forest festival of any benefit to the broader community? Was there a political call to action or an underlying theme or message? Or was it just a big party? The event was the ultimate self-organizing ad hoc network , with DJ sets, art installations, tea ceremonies and a livestream. This was not just a pop-up economy but a pop-up city. Micro economies emerged within it. Although the FWB team developed its own merch for the event, member @sister_jam beat it with his own, cooler merch for sale via cash, crypto or Venmo in the Discord chat. I wondered if the FWB digital city had the political ambitions of a “ network state ” – an online community that garners enough resources and influence to compete with nation-state level actors for diplomatic influence. Although FWB does reportedly have $18.26 million of funds in the DAO's treasury, I don’t think its intention is to compete with nation-states. In practice, FWB’s ambitions extend about as far as collectively crowdfunding the purchase of one of the oldest Chinese restaurants in LA, which the DAO ultimately decided against. The ephemeral quality of the event was perfectly encapsulated by a group “star gazing” session on the final evening. As I witnessed my first meteor shower, I recognized it would be here one moment and gone the next, but the impact would be lasting. FWB Fest provided a road map for future FWB events to take the concept and push it even further. Read more: Why Traditional Investors May Not Love DAOs | Opinion “Our culture is very soft,” stated Dexter, a core team member during his talk with Glen Weyl on the richness of computational tools and social network data. It is a gentle way to learn about Web3, where peoples’ knowledge and experience are at all levels, questions are OK and the main focus is shared creative interests, with just a hint of Web3. The DAO provides something for people to coalesce around. It serves as a nexus, larger than the personal connections of its founder, where intersectional connections of creativity collide in curated moments of serendipity. FWB DAO creates trust through reputation, as friends are often told about the DAO from other friends and then vetted through an application process. Having pre-verified friends scales trust in a safe and accessible way. The next plan is to provide a way for members to host their own FWB events, which will help the DAO scale its impact. Provisioning tools like the Gatekeeper ticketing app (built by core team member Dexter, a musician and self-taught software developer) provide a pattern to enable community members to take ownership of running their own events by managing ticketing in the style and culture of FWB. Yet, now that FWB has built this city (both digitally and physically), how will it be governed and sustained? Its challenge is to imbed decentralized governance principles and processes into its next phase of growth. Decentralizing the digital city It wasn’t until my final evening of the Fest that I realized that FWB itself had raised $10 million in VC capital at a $100M valuation from some of the biggest names in U.S. venture capital, including Andreessen Horowitz and a16Z. According to some community members, the raise was controversial for the community (although that was not reflected in the outcome of the vote , which passed at 98%). Some see it as the financialization of creativity. “All this emphasis on ownership and value. And I feel like I’m contributing to it by being here!” stated one LARPer at FWB Fest, who runs an art gallery IRL. “Right now, it’s still a [frigging] pyramid.” Crypto communities are learning that the age-old human coordination challenge of governance is hard. It is difficult to operate counter to the culture you come from without perpetuating it. This has a direct effect on decentralized governance and community participation, if Web2 governance strategies are being perpetuated instead of new ones that facilitate the values of Web3. Participation in FWB DAO governance is limited, at best. Proposals are gated by team members who help edit, shape and craft the language according to a template before it can be posted to Snapshot by the Proposal Review Committee. Members can vote on proposals, with topics including “FWB x Hennessy Partnership,” grant selections and liquidity management. According to core team members in their public talks, votes typically pass with 99% in favor every time, which is not necessarily a good signal of genuine, political engagement and healthy democracy. This DAO community, like many others, hasn’t yet figured out decentralized governance. For its next phase of growth and mission to empower its constituency and multiply its influence, it has to. So far, the community has remained successfully intact, or “unforked.” Yet, progressive decentralization through the localization of events is not the same as decentralized governance. The goal of FWB should be to accomplish both. The goal of any DAO should not be to exit a start-up or provide a return on investment to venture capital firms. Similarly, FWB needs to support their mission in subversive ways instead of relying on traditional funding models to pursue their mission. The goal of this social DAO to allow people to gain agency through the creation of new economies and propagate cultural influence must carry through each localization, and somehow align back with the overarching DAO – to create not just culture but to support the principle of decentralization in line with the mission of creatives directly benefiting from their work. Final thoughts Surprisingly, the highlight of the weekend for me was not James Blake playing an acoustic piano set in the middle of a forest. It was the serendipity of conversations with newfound friends. As I sat on the grassy knoll of the amphitheater under the canopy of mushroom cloud tarps to watch James Blake play a live piano set, my neighbor professed to me: “Personally, I’m going to become a member. I want to build here because it’s cool.” At that moment, we shared mutual acknowledgment of the cultural significance of the moment we were experiencing. In search of an alternative to her experience of the daily grind of working for an ad agency, she had bought into the broader Web3 vision of doing things differently, of which we are all a part. What remains to be seen is how this creative community can collectively facilitate authentic decentralized organizing for the impassioned believers, through connections, tools, funding, and creative ingenuity. In the meantime, I will probably join, too. || 7 Top-Rated Biotech Stocks to Buy for Q4: A new White House program will likely boost the entire biotech industry. And it makes these seven names some outstanding biotech stocks to buy for the fourth quarter.
The newNational Biotechnology and Biomanufacturing Initiativeis designed to encourage biotech production in the U.S. An executive order signed by President Joe Biden on Sept. 12, was followed by a White House summit featuring Cabinet-level initiatives that will increase the nation’s biotech and biomanufacturing capabilities.
This week’s announcements come on the heels ofBiden’s pledge to cure cancer. Clearly, biotech companies are going to be getting a lot of government support in the coming quarters.
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What’s the best way to capitalize on this opportunity and maximize your profits? One way is to run biotech stocks through thePortfolio Grader, which is my tool to evaluate stocks on an “A” through “F” scale, based on the stock’s earnings, momentum and performance, among other factors.
Here are seven biotech stocks to buy for Q4 as the White House leans in hard on the biotech industry.
Source: Gorodenkoff / Shutterstock.com
ADMA Biologics(NASDAQ:ADMA) is an end-to-end commercial biopharmaceutical company with offices in New Jersey and Florida. The company made waves in 2020 during the early months of the Covid-19 pandemic as itsconvalescent plasmawon emergency use authorization to treat Covid-19 patients.
And while ADMA is a penny stock, it’s still showing impressive growth this year, up by more than 90% making it one of the hit biotech stocks to keep your eyes on.
Earnings in the second quarter were up by more than 90% from a year ago, to hit $33.91 million. That beat analysts’ expectations for $31.81 million. Earnings per share also were better than expected – the company reported a loss of 7 cents per share, but the Street was expecting a loss of 8 cents per share.
ADMA is known for its plasma-derived treatments for patients with compromised immune systems, and it alsowon approvalfrom the FDA last year for an expanded manufacturing process to increase production of its Intravenous Immune Globulin (IVIG).
With strong earnings and momentum firmly on its side, ADMA stock has an “A” rating in thePortfolio Grader.
Source: everything possible / Shutterstock.com
Geron(NASDAQ:GERN) is a biopharmaceutical company that specializes in the development of a telomerase inhibitor, imetelstat, in hematologic myeloid malignancies. It uses advanced technologies to exploit cancer cells’ dependency on telomerase, which is a type of ribonucleoprotein.
It currently is working through two Phase 3 clinical trials: one in low or intermediate-1 risk myelodysplastic syndromes, or lower risk MDS, and the other for intermediate or high-risk myelofibrosis, or refractory MF.
The California-based company is having even a better year than ADMA, with GERN stock up more than 134%. But while the stock price is rocketing higher, the company doesn’t quite match ADMA’s performance. Revenue of $73,000 in the second quarter was down nearly 32% from a year ago, and came in below analysts’ expectations for $114,600. A loss of 7 cents per share was 2 cents better than analysts predicted.
GERN stock also gets an “A” rating in thePortfolio Grader.
Source: Hernan E. Schmidt / Shutterstock.com
After looking at two penny stocks, now we’re getting to one that’s a little more established, with a market capitalization of more than $2 billion.
Based in San Diego,Prometheus Biosciences(NASDAQ:RXDX) is a biotech company its mark targeting gastrointestinal diseases and now is expanding to treat autoimmune diseases. The company went public a little more than a year ago, pricing its stock at $19. Today you can get it for about $57.
Earnings for the second quarter showed how fast the company is growing. Revenue of $1.27 million was 289% greater than a year ago, and beat analysts’ expectations for $464,000. The company loss 86 cents per share, but that still beat expectations by 6 cents per share.
With the amazing growth in RXDX since its IPO, it’s no surprise that Prometheus Biosciences has an “A” rating in thePortfolio Grader.
Source: Piotr Swat / Shutterstock.com
AbbVie(NYSE:ABBV) is one of the best-known biotech stocks in the U.S., after having spun off fromAbbott Laboratories(NYSE:ABT). The Illinois-based company boasts adiversified product portfolio, despite having losing exclusivity for its Humira rheumatoid arthritis drug.
Earnings of $14.58 billion in the second quarter came in slightly less than the $14.64 billion that analysts expected. EPS of $3.37, however, was better than the Street’s expectation for $3.31.
Analysts are expecting AbbVie’sSkyrizi and Rinvoqdrugs to replace Humira’s revenue, as the two drugs are collectively expected to generate more than $15 billion in annual revenue by 2025. That would be better than Humira at its peak. Skyrizi is used for moderate-to-severe plaque psoriasis as well as psoriatic arthritis, while Rinvoq is for severe rheumatoid arthritis.
ABBV stock is up only 3% so far this year, but that’s still much better than the major indices, and it also boasts a dividend yield of 4%. So it warrants an “A” rating in thePortfolio Grader.
Source: luchschenF / Shutterstock.com
There’s a lot of brainpower in Cambridge, Massachusetts, where gene therapy companyVoyager Therapeutics(NASDAQ:VYGR) is headquartered. The company’sTracer platformidentifies way to target tissues and cells with more specificity and at lower doses – and hopefully, with reduced risk than conventional treatments.
The company recently announced itstop development prioritiesinclude treatments for Parkinson’s disease, amyotrophic lateral sclerosis (ALS), and Alzheimer’s disease.
The stock is up 143% so far this year, even after a 7% drop since announcing its second quarter earnings. Revenue of $712,000 was far below the $6.03 million that analysts expected. The loss of 50 cents per share worse than what analysts predicted, which was an EPS loss of 42 cents.
Even so, there’s still a lot to like about Voyager, and it has a “B” rating in thePortfolio Grader.
Source: Shutterstock
SIGA Technologies(NASDAQ:SIGA) is one of the biotech companies working on the monkeypox outbreak, which so far has affected more than22,700 peoplein the U.S.
SIGA’s monkeypox treatment is called TPOXX. SIGA CEO Phil Gomez says the company isprepared to increase productionto meet the demand in the U.S. and elsewhere. TPOXX is also part of anexperimental treatment protocolin the Central African Republic, CAR. SIGA is providing up to 500 doses to the study, sponsored by Oxford University in the U.K.
Earnings for the second quarter included revenue of $16.67 million, up from $8.7 million a year ago.
SIGA stock is up 75% so far this year and has an “A” rating in thePortfolio Grader.
Source: Pavel Kapysh/Shutterstock.com
Axsome Therapeutics(NASDAQ:AXSM) focuses on treatments for the central nervous system, including depression, Alzheimer’s disease, migraine, narcolepsy and fibromyalgia. It boughtSunosi, which treats daytime sleepiness, fromJazz Pharmaceuticals(NASDAQ:JAZZ) in May.
Earnings in the second quarter came in better than expected, with revenue of $8.82 million and a loss per share of $1.06 better than analysts’ predictions of $8.29 and a loss per share of $1.12.
Axsome stock has had a big year, up more than 63%. Combined with its earnings win and the Biden administration’s focus on biotechs, AXSM stock is worthy of its “B” rating in thePortfolio 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 post7 Top-Rated Biotech Stocks to Buy for Q4appeared first onInvestorPlace. || Billionaires Jay-Z, Jack Dorsey Airdrop Around $1K Each In Bitcoin To Residents Of Marcy Houses: The Bitcoin Academy stayed true to its promise.
AsAfroTechpreviously told you, billionairesJay-Zand Jack Dorsey teamed up to launch a 12-week financial literacy program for residents of the Marcy Houses in Brooklyn, NY.
Participants would receive access to the academy’s tools andresourcesfree of charge.
Activations started on June 22, and The Bitcoin Academy launched with online and in-person courses through collaboration between Block, the Shawn Carter Foundation, Crypto Blockchain Plug, and Black Bitcoin Billionaire.
Course offerings included “Wealth Building and Assets,” “Why Decentralization Matters,” “Staying Safe from Scammers,” “Bitcoin & Taxes,” and “Careers in Crypto.”
“A lot of times, information doesn’t get to our community. Not because people are being intentionally discriminatory, it’s because they’re not being intentional about getting the information there. And so somebody has to pick up the mantle and do it,” said Lamar Wilson, an instructor in the Academy and founder of Black Bitcoin Billionaire, according toBusiness Insider.
Fast forward and the program has come to an end.
To celebrate, Marcy residents were airdropped nearly $1,000 in Bitcoin by Jay-Z andDorseythrough Cash App, Muun Wallet, or other self-custodial wallets, under the conditions they enrolled as students, joined the program, and agreed to receive a grant, Business Insider reports.
“Marcy residents showed up. The over 350 people who attended The Bitcoin Academy classes let us know that this education is important to them – and that it matters,” said Ms. Gloria Carter, Jay-Z’s mother, and the president and co-founder of The Shawn Carter Foundation, in a statement provided to Business Insider. “What also matters is providing the necessary resources such as dinner, childcare, devices, internet access, dedicated staff and instructors so that as many people as possible could participate in person and online. I am so grateful to the community that came together to make this happen, and especially to all the class participants who are now more empowered to make their own financial decisions with greater knowledge. Knowledge is Power. It’s now up to everyone who participated to empower and prepare the next generation” || Bitcoin Miners' Profitability May Narrow as Mining Difficulty Hits Second-Biggest Increase This Year: The difficulty of mining a bitcoin (BTC) blockincreased by 9.26%on Wednesday, making it this year's second-biggest increase, which is likely to result in narrower profit margins for the industry.
The metric adjusts automatically to keep the time required to mine a bitcoin block to roughly around 10 minutes, depending on the amount of computing power on the network. The higher the hashrate, the higher the difficulty, which lowers miners' profitability. Earlier this summer, miners across the U.S. and in Texas, a hub for the industry, werecurtailing their operations to cope with heatwaves, which contributed to lower difficulty and network hashrate.
Today, the difficulty reached 30.97 trillion as the hashrate hovered over 230 exahash per second (EH/s), according to data fromCoinWarz. The difficulty level is just under its all-time high in May of 31.25 trillion, according to data from mining poolBTC.com.
Read more:Bitcoin Mining Difficulty Poised to Spike by Most Since January Amid Colder Weather
As the difficulty increases, miners' profit margins get squeezed because they are less likely to successfully mine a block and reap the rewards. Miners were already feeling thesqueezethis year as the price of bitcoin fell more than 50% this year, power prices (a major cost for the miners) increased and raising capital has become very expensive. The increase in difficulty could add more to the miners' woes.
Shares of some of the largest publicly traded bitcoin miners, including Core Scientific (CORZ), Marathon Digital (MARA) and Riot Blockchain (RIOT), have already fallen more than 60% this year.
Thehashprice, a metric coined by mining services firm Luxor Technologies that measures revenue per terahash of computing power, has dropped dramatically in the last month and particularly in the past few hours, following the difficulty adjustment. In the month of August, revenue in U.S. dollars per terahash dropped by about 24%, whereas on Wednesday, the hashprice fell by 8%. || Huobi Global launches two million dollar trading contest to celebrate the Ethereum merge: London, UK --News Direct-- Huobi Global Huobi Global, a world-leading crypto asset trading platform under Huobi Group, today announced the launch of Huobi Trading Contest . With a grand prize pool of two million USDT to be won, this trading contest is designed to celebrate the upcoming Ethereum merge and incentivize cryptocurrency traders to participate in Huobi’s newly launched Prime membership program , which awards tiered benefits to traders of different levels. The highly anticipated contest will pit traders against each other over a 10-day period from September 5-15, 2022. During each of these ten days, Huobi will track their trading volumes and rank top traders on a public leaderboard. Those who are talented enough to make the leaderboard will share a grand prize pool of two million USDT, with top traders winning up to 50,000 USDT in individual prizes. Participants will be grouped into one of three streams: Beginner Trader, Talented Trader, and Master Trader, based on their Prime membership levels. Throughout the contest, traders’ classifications can change, depending on their trading volumes. The contest is also designed to make the cryptocurrency trading experience more fun and interactive. Our Good Luck prizes are open to all participants who meet the trading volume requirements for the Beginner Trader stream; the participants are also eligible to win part of a 10,000 USDT prize pool. Additionally, this contest will celebrate the upcoming merge of the Ethereum mainnet with the proof-of-stake Beacon Chain network. This will lay the foundation for upgrades that could alleviate Ethereum’s scaling issues and accelerate transaction speeds, opening up new possibilities for the Layer-1 blockchain and the industry as a whole. What’s more, if traders trade Ethereum and other specified tokens during the contest, their trading amount will be multiplied by an unknown variable, amplifying their volumes and increasing their chances of winning prizes. Story continues This trading contest comes shortly after Huobi Global launched its new, inclusive Prime membership program, which grants reduced trading fees and other benefits to active users. Traders who average 10,000 USDT in 30-day spot trading volumes qualify for the lowest tier; those with 100,000 USDT in derivatives trading volumes or at least 2,000 USDT in assets also qualify. The program stands out from competitors by lowering the threshold for new members and also by opening up eligibility to both spot and derivatives traders. To learn more about the trading contest, click here . To know more about the Prime membership program, click here . 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 The above information is for reference only. Huobi Global does not recommend or endorse any digital asset, product or promotion on its platform. Trading digital assets and digital asset derivatives comes with high risks due to significant price volatility. Please fully understand all the risks and make prudent decisions before trading. Please read our detailed risk reminder at https://www.huobi.com/support/en-us/detail/360000188081. Huobi Global will not be responsible for your trading losses. Contact Details Huobi PR team +1 401-244-8310 [email protected] Company Website https://www.huobi.com/ View source version on newsdirect.com: https://newsdirect.com/news/huobi-global-launches-two-million-dollar-trading-contest-to-celebrate-the-ethereum-merge-696004096
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 19334.42, 19139.54, 19053.74, 19172.47, 19208.19, 19567.01, 19345.57, 20095.86, 20770.44, 20285.84
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2022-03-10]
BTC Price: 39437.46, BTC RSI: 47.65
Gold Price: 1998.10, Gold RSI: 65.53
Oil Price: 106.02, Oil RSI: 56.52
[Random Sample of News (last 60 days)]
More Than 100 S&P 500 Stocks Have Outperformed Cardano: Cardano ( ADA-USD ) is up over 17% over one year. Cardano (ADA) token with blue and orange digital background. Source: Stanslavs / Shutterstock While that is nothing to sneeze at, 1 1 3 S&P 500 stocks have exceeded that performance through Feb. 15. The number one performance comes from Devon Energy (NYSE: DVN ), which has a total return of 171.4%. Year-to-date, ADA-USD is down 23.74%. A total of 448 S&P 500 stocks have done better, with 160 of them in positive territory seven weeks into 2022. InvestorPlace - Stock Market News, Stock Advice & Trading Tips By merely investing in the SPDR S&P 500 ETF Trust (NYSEARCA: SPY ) a year ago, you would have matched the cryptocurrency’s performance. It appears that Cardano’s risk-to-reward proposition has gone off the rails. What will it take to become a worthwhile investment once more? I’ll consider the possibilities. Cardano Needs a Catalyst Just as stocks need catalysts, so, too, do cryptocurrencies . Unfortunately, as we’ve seen over the past year, volatility has driven crypto prices wildly higher and lower. 7 Housing Stocks To Sell if You Think the Boom Is Going To Bust In late April 2021, it was trading around $1.11, near the same price as today ($1.04). Within three weeks, ADA-USD had doubled. By July, it was back around $1.11. It had gained more than 180% by early September, jumping to a 52-week high of $3.09. Over the next five-and-a-half months, it lost 64% of its value. Now, most cryptos have taken it on the chin over the past six months. However, Cardano’s decline has been significantly worse than some of the big guns. For example, while ADA-USD is down 45.9% over the past six months compared to -6.8% for Bitcoin ( BTC-USD ) and Ethereum ( ETH-USD ) is down 4.7% over the same period. I haven’t gone through the returns for the other seven names in the top 10 list of cryptocurrencies by market capitalization, but my guess is they’ve all outperformed Cardano. What is it about Cardano that has gotten investors scared? InvestorPlace.com’s Stavros Georgiadis believes that part of the problem could be that stock markets are foretelling a significant correction brought on by oil prices at their highest level since 2014, ensuring that inflation continues to eat away at people’s livelihoods. Cryptos would naturally fall in sympathy for any market correction. Story continues As a result, my colleague suggests Cardano has several priorities in 2022. Of those, I believe the two most important mentioned by Georgiadis are 1) to increase its interoperability and scalability, and 2) to collaborate with regulators. Suppose Charles Hoskinson, the chief executive officer of IOHK , the people behind Cardano, can demonstrate that its blockchain can work across different blockchains at scale. In that case, I don’t think there is any question investors will value its utility. In my opinion, more utility equals a higher coin or token price. The second priority is to get regulators onside. Rather than try to change the world from the outside, Cardano should sit around the table with the powers that be in the U.S. and elsewhere and hammer out a plan to ensure its future, as well as other cryptocurrencies. If crypto goes mainstream, the sky is the limit for Cardano. Atala Prism Needs to Go Live In November, I wrote about Cardano’s Atala Prism project in Ethiopia, which will see it develop a blockchain-based student attendance and performance tracking system. By creating a digital identity system for the country’s five million students, it will then be able to extend the system to all 110 million people living in Ethiopia. Places such as Africa make sense for significant initiatives such as Atala Prism. In the aforementioned article, I wrote: “[T]o find solutions to the world’s problems, it made far more sense to go to the poorest countries to find these answers. Why? Because if a country with few resources can deliver a cost-effective and scalable solution, it would be a piece of cake in developed countries like the U.S. and elsewhere.” If Hoskinson and his team can demonstrate that Atala Prism works the way it was intended, the test case success story will be sure to attract investor interest. Should it roll out the digital identity system to the entire country, there is no telling how valuable ADA-USD would become. It is another catalyst that would reverse Cardano’s slide. But these catalysts can’t come soon enough. ADA-USD hasn’t traded below $1 since February 2021. In the meantime, if you’re not an aggressive investor, there are S&P 500 stocks that have outperformed Cardano in the past year and could do so again over the next 12 months. On the date of publication, Will Ashworth 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 . 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. More From InvestorPlace Stock Prodigy Who Found NIO at $2… Says Buy THIS Now Man Who Called Black Monday: “Prepare Now.” Get in Now on Tiny $3 ‘Forever Battery’ Stock Interested in Crypto? Read This First... The post More Than 100 S&P 500 Stocks Have Outperformed Cardano appeared first on InvestorPlace . || Silver Pulls Back After Unsuccessful Attempt To Settle Above $24.00: Silver Moves Lower At The Start Of The Week Silver has recently made another attempt to settle above the resistance at $24.00 but failed to develop sufficient upside momentum and pulled back while the U.S. dollar lost some ground against a broad basket of currencies. The U.S. Dollar Index failed to settle below the 50 EMA at 95.75 and is currently trying to settle back above the resistance at 96. In case this attempt is successful, the U.S. Dollar Index will head towards the resistance at 96.25 which will be bearish for silver and gold price today. Meanwhile, gold is still trading near the important $1900 level. Geopolitical tensions are increasing, and gold has a good chance to settle above this level. In this scenario, gold will move towards the next resistance at $1915 which will be bullish for silver. It should be noted that SPDR Gold Trust and iShares Silver Trust are not trading today as the U.S. markets are closed. Gold/silver ratio has moved back above 79.50 and is trying to get to the test of the 80 level. In case gold/silver ratio manages to settle above 80, it will head towards the resistance at 81 which will be bearish for silver. Technical Analysis Silver is currently trading in the range between the support at $23.70 and the resistance at $24.00. If silver manages to get above the $24.00 level, it will head towards the resistance at $24.20. A move above the resistance at $24.20 will push silver towards the resistance at $24.50. In case silver moves above this level, it will head towards the resistance which is located at $24.70. On the support side, a move below the support at $23.70 will open the way to the test of the support at $23.50. A successful test of this level will push silver towards the support at the 20 EMA at $23.40. If silver declines below the 20 EMA, it will head towards the next support at the 50 EMA at $23.25. 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: Silver Markets Give Back Early Gains Kazakhstan Has Probably Less Bitcoin Hash Rate Since the Last Index Nat Gas Spikes Higher on Cold Temps, Low Stocks, LNG Demand Euro Gives Up Early Gains on Monday Axie Infinity, Bit2Me Partner, Amid Record-Breaking NFT Sales Georgia Ripe for Bitcoin Mining Despite Rising Power Deficit: Says Arcane || Bitcoin (BTC) U-Turns on FED Chair Powell Policy Outlook: Key Insights: Bitcoin (BTC) slips back as the crypto market responds to FED Chair Powells Testimony on Capitol Hill. Demand for riskier assets left Bitcoin in the red. Downside risks remain as markets await the White House Executive Order. It was a bearish day for Bitcoin ( BTC ) on Wednesday. Bitcoin briefly hit $45,000 levels with a day high of $45,070 before falling back to test support at $43,500. Partially reversing a 2.87% gain from Tuesday, Bitcoin fell by 1.11% to end the day at $43,935. It was another mixed session for the rest of the crypto top 10. LUNA and SOL rose by 3.05% and 2.03%, respectively, to lead the way. BNB also avoided the red, up by 0.15%. ADA (-2.49%), AVAX (-4.12%), and ETH (-0.98%) and XRP (-2.01%) struggled. Bitcoin Fear & Greed Index Hits Reverse Following Wednesdays rise to 52/100 in response to Bitcoins bullish start to the week, the index slid back to 39/100 this morning. The reversal saw the index fall back into the Fear zone. For the Bitcoin bulls, the index will need to move back through to 54/100 to bring $50,000 levels back into play for Bitcoin. A fall to sub-20/100 would deliver sub-$30,000 levels. Once more, Bitcoin broke ranks with the NASDAQ 100 and broader market risk sentiment on the day. FED monetary policy was in focus on Wednesday, with FED Chair Powell delivering testimony on Capitol Hill. Talk of a more cautious move later this month spurred demand for riskier assets. Powell told lawmakers: there are events yet to come and we dont know what the real effect on the U.S. economy will be . The FED Chair reportedly added that he favored a 25 basis point rate hike in March and then larger and more frequent rate hikes if needed. Crypto market reaction to FED Chair Powells testimony was evident and in stark contrast to Januarys market reaction to more hawkish than expected FOMC meeting minutes. Wednesdays reaction further reinforces Bitcoins recent shift to a risk-off asset. Story continues Away from FED monetary policy, downside risks linger. On the regulatory front, we are looking out for the White House Executive Order on cryptos. Bitcoin Price Action At the time of writing, Bitcoin was flat at $43,933. Technical Indicators Bitcoin will need to move through the $44,131 pivot to make a run on the First Major Resistance Level at $44,874. Bitcoin would need broader market support to break through to $44,500. In the event of another extended rally, the Second Major Resistance Level at $45,813 and resistance at $46,500 would come into play. The Third Major Resistance Level sits at $47,495. Failure to move through the pivot would bring the First Major Support Level at $43,192 into play. Barring an extended sell-off throughout the day, Bitcoin should avoid sub-$42,000 levels. The Second Major Support Level at $42,449 should limit the downside. Looking at the EMAs and the 4-hourly candlestick chart (above), it is a bullish signal. Bitcoin continues to sit well above the 50-day EMA. The 50-day EMA has pulled away from the 200-day after the bullish cross through the 200-day EMA. A bullish cross of the 100-day EMA through the 200-day EMA would bring the Major Resistance levels into play. Avoiding the 50-day EMA, currently at $41,000, would support further upside. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Prices Rise Ahead of Inventory Report EU Eyeing Cryptocurrencies in Efforts to Bolster Sanctions on Russia Bitcoin (BTC) U-Turns on FED Chair Powell Policy Outlook AUD/USD Reaction to .7261 .7331 Sets Near-Term Direction E-mini S&P Buyers Eyeing 4455.00 4538.50 Retracement Zone E-mini NASDAQ Trading Inside Major Retracement Zone || Spanish Telecom To Enter Crypto & Metaverse With Its Cryptocurrency: • Telefónica is analyzing the possibility of being involved with crypto.
• This will be the first step for the company to engage with Metaverse and web3.
• Telefónica and other European operators have demanded regulatory changes from the EU.
Ascryptoadoption expands globally, more and more companies are leveraging its popularity to propel themselves into the limelight.
This idea seemed to have reached Spain since a Barcelona-based telecom company is looking to charge guns akimbo into crypto.
Earlier this month, Telefónicaannouncedthat they are analyzing and planning on venturing intocrypto. The telecom company intends on beginning with allowing users to pay in cryptocurrencies.
Using this service as a launch base, the company provides various Metaverse and web3 services.
Talking about the prospects, the director of the Digital Unit of the firm, Chema Alonso, said to Europa Press that the option of crypto payments would not be limited to finitecryptocurrencies.
At the same time, Alonso specified that should there be support from the regulators, Telefónica could also launch its cryptocurrency.
The company plans to facilitate crypto payments by channeling them through an exchange that would instantaneously convert them intoEuros.
But while the plans seem too big in themselves, Telefónica intends on going bigger.
The telecom company aims at playing a relevant role in the Metaverse and web3 in the future. The company announced their virtual lab in their innovation hub to accelerate the web3 projects.
To head the same, cybersecurity expert, Yaiza Rubio was announced as the Director of Metaverse.
This would allow them to collaborate with other Metaverse and web3 developers and startups.
However, with the prosperity in the Metaverse would come obstacles in the form of traffic demand and infrastructure. To adequately supplement the rising demand, regulatory changes have been demanded from the European Union.
Currently, the European Union is unfair with the taxes charged since bigger entities in the telecom space pay lesser taxes than the smaller companies.
Adding to the same, President of Telefónica, José María Álvarez-Pallete stated,
“We respect all the actors in the new economy. But we also deserve respect. It is impossible to face the new times with the old rules. Our sector does not ask for privileges, but for justice.”
Whether or not these plans come into existence and whether or not the EU equalizes taxes is to be seen.
Thisarticlewas originally posted on FX Empire
• USD/CAD Dips as the Loonie Breaks Out
• Euro Gets Obliterated
• Bitcoin Mining Difficulty Drops Amid Retail Accumulation
• Silver Markets Attempt to Break Out
• British Pound Falls Drastically During the Week
• War in Ukraine Weighs Down on Germany’s Growth Prospects in 2022 || ESL Trust Services, LLC Buys BTC iShares Core MSCI EAFE ETF, Tompkins Financial Corp, Sells ...: Investment company ESL Trust Services, LLC ( Current Portfolio ) buys BTC iShares Core MSCI EAFE ETF, Tompkins Financial Corp, sells iShares Core MSCI Total International Stock ETF, ISHARES TRUST during the 3-months ended 2021Q4, according to the most recent filings of the investment company, ESL Trust Services, LLC. As of 2021Q4, ESL Trust Services, LLC owns 24 stocks with a total value of $347 million. These are the details of the buys and sells. New Purchases: IEFA, TMP, Added Positions: QLTA, MSFT, Reduced Positions: IXUS, SHY, BIV, IWF, AAPL, IWM, SPY, VYM, Warning! GuruFocus has detected 3 Warning Signs with SHOP. Click here to check it out. IEFA 15-Year Financial Data The intrinsic value of IEFA Peter Lynch Chart of IEFA For the details of ESL Trust Services, LLC's stock buys and sells, go to https://www.gurufocus.com/guru/esl+trust+services%2C+llc/current-portfolio/portfolio These are the top 5 holdings of ESL Trust Services, LLC iShares Core S&P 500 ETF ( IVV ) - 113,181 shares, 15.54% of the total portfolio. Shares reduced by 0.24% BTC iShares Core MSCI EAFE ETF ( IEFA ) - 604,194 shares, 12.98% of the total portfolio. New Position FlexShares Global Quality FlexShares Global Qualit ( GQRE ) - 519,566 shares, 11.08% of the total portfolio. SPDR Portfolio S&P 500 Growth ETF (SPYG) - 529,305 shares, 11.04% of the total portfolio. Schwab US Dividend Equity ETF (SCHD) - 465,350 shares, 10.83% of the total portfolio. Shares reduced by 0.08% New Purchase: BTC iShares Core MSCI EAFE ETF (IEFA) ESL Trust Services, LLC initiated holding in BTC iShares Core MSCI EAFE ETF. The purchase prices were between $71.13 and $76.32, with an estimated average price of $74.06. The stock is now traded at around $70.550000. The impact to a portfolio due to this purchase was 12.98%. The holding were 604,194 shares as of 2021-12-31. New Purchase: Tompkins Financial Corp (TMP) ESL Trust Services, LLC initiated holding in Tompkins Financial Corp. The purchase prices were between $77.45 and $85.02, with an estimated average price of $82.08. The stock is now traded at around $79.580000. The impact to a portfolio due to this purchase was 0.06%. The holding were 2,459 shares as of 2021-12-31. Here is the complete portfolio of ESL Trust Services, LLC. Also check out: 1. ESL Trust Services, LLC's Undervalued Stocks 2. ESL Trust Services, LLC's Top Growth Companies, and 3. ESL Trust Services, LLC's High Yield stocks 4. Stocks that ESL Trust Services, LLC keeps buyingThis article first appeared on GuruFocus . || Inverness Counsel Llc Buys Catalent Inc, Zscaler Inc, NetEase Inc, Sells Visa Inc, Apple Inc, ...: Investment companyInverness Counsel Llc(Current Portfolio) buys Catalent Inc, Zscaler Inc, NetEase Inc, First Republic Bank, Verizon Communications Inc, sells Visa Inc, Apple Inc, Boston Scientific Corp, Norfolk Southern Corp, Intel Corp during the 3-months ended 2021Q4, according to the most recent filings of the investment company, Inverness Counsel Llc . As of 2021Q4, Inverness Counsel Llc owns 191 stocks with a total value of $2.7 billion. These are the details of the buys and sells.
• New Purchases:CTLT, ZS, FRC, PH, AZO, VO, PLTR, FTNT, EFA, ASML, KRNT, LULU, ACN, AEP, TECH, TD, NSRGY, MTD, MELI, MANH, CSCO, IWO, IJH, ABBV, COP, FDX, EXPGY, CP, AMPS, AMPS,
• Added Positions:NTES, FB, VZ, MCD, BRK.B, CMG, DHR, ROP, JPM, BTX, FND, PG, NKE, GOOGL, PEP, VOO, VB, TMO, IWF, EOG, CVX, IDXX, SHOP, SO, NET, TXN, USB, IWR, D,
• Reduced Positions:V, DOV, AAPL, BSX, MSFT, CSL, NSC, NVDA, GOOG, INTC, NOW, TFC, MSCI, ADBE, CL, DIS, AMZN, MTCH, CTAS, UNH, PGR, NEE, BA, IAC, WFC, MRVL, NICE, TT, CRM, CE, CAT, SBUX, JNJ, ZTS, PNC, ABT, SNOW, EL, ECL, AXP, MAR, NTDOY, AMAT, MCO, IEMG, ANSS, T, OAKV, EW, MA, CI, ARVL, CBRE, AON, SPGI, ANET, AMD, WMT, XOM, MDT, IQV, A, INTU, LRCX, LVMUY, MRK, DRI, HASI, ETSY, NDAQ, VWO, VNQ, FRT, HD, HON, IBM, TJX, HAS, XEL, SPY, KO, RTX, REGN, QS, QQQ, PFE, OMC, DIA, BAC, CVS, CHRW, CME,
• Sold Out:SE, VMEO, TFX, HUBS, ADS, ADGI, UGL, USMV, SEDG, SQQQ, RGEN, DAL, EVA, GILD, CMCSA, CHTR, ESXB, CBAH,
• Warning! GuruFocus has detected 3 Warning Signs with NTES. Click here to check it out.
• NTES 15-Year Financial Data
• The intrinsic value of NTES
• Peter Lynch Chart of NTES
For the details of INVERNESS COUNSEL LLC 's stock buys and sells,go tohttps://www.gurufocus.com/guru/inverness+counsel+llc+/current-portfolio/portfolio
These are the top 5 holdings of INVERNESS COUNSEL LLC
1. Roper Technologies Inc (ROP) - 525,622 shares, 9.53% of the total portfolio. Shares added by 2.14%
2. Dover Corp (DOV) - 988,106 shares, 6.61% of the total portfolio. Shares reduced by 20%
3. Microsoft Corp (MSFT) - 389,883 shares, 4.83% of the total portfolio. Shares reduced by 16.91%
4. Carlisle Companies Inc (CSL) - 523,701 shares, 4.79% of the total portfolio. Shares reduced by 14.69%
5. Amazon.com Inc (AMZN) - 37,322 shares, 4.59% of the total portfolio. Shares reduced by 8.62%
New Purchase: Catalent Inc (CTLT)
Inverness Counsel Llc initiated holding in Catalent Inc. The purchase prices were between $119.57 and $139.07, with an estimated average price of $128.41. The stock is now traded at around $103.180000. The impact to a portfolio due to this purchase was 1.87%. The holding were 397,138 shares as of 2021-12-31.
New Purchase: Zscaler Inc (ZS)
Inverness Counsel Llc initiated holding in Zscaler Inc. The purchase prices were between $251.86 and $368.78, with an estimated average price of $316.24. The stock is now traded at around $262.920000. The impact to a portfolio due to this purchase was 1.01%. The holding were 85,144 shares as of 2021-12-31.
New Purchase: First Republic Bank (FRC)
Inverness Counsel Llc initiated holding in First Republic Bank. The purchase prices were between $196.19 and $221.91, with an estimated average price of $211.13. The stock is now traded at around $175.070000. The impact to a portfolio due to this purchase was 0.42%. The holding were 54,844 shares as of 2021-12-31.
New Purchase: Parker Hannifin Corp (PH)
Inverness Counsel Llc initiated holding in Parker Hannifin Corp. The purchase prices were between $284.71 and $334, with an estimated average price of $309.87. The stock is now traded at around $303.770000. The impact to a portfolio due to this purchase was 0.38%. The holding were 32,784 shares as of 2021-12-31.
New Purchase: AutoZone Inc (AZO)
Inverness Counsel Llc initiated holding in AutoZone Inc. The purchase prices were between $1642.51 and $2104.04, with an estimated average price of $1867.04. The stock is now traded at around $1996.500000. The impact to a portfolio due to this purchase was 0.13%. The holding were 1,708 shares as of 2021-12-31.
New Purchase: Vanguard Mid-Cap ETF (VO)
Inverness Counsel Llc initiated holding in Vanguard Mid-Cap ETF. The purchase prices were between $236.12 and $260.25, with an estimated average price of $250.07. The stock is now traded at around $234.770000. The impact to a portfolio due to this purchase was 0.08%. The holding were 8,900 shares as of 2021-12-31.
Added: NetEase Inc (NTES)
Inverness Counsel Llc added to a holding in NetEase Inc by 189.28%. The purchase prices were between $82.14 and $115.55, with an estimated average price of $101.98. The stock is now traded at around $99.090000. The impact to a portfolio due to this purchase was 1.01%. The holding were 411,845 shares as of 2021-12-31.
Added: Verizon Communications Inc (VZ)
Inverness Counsel Llc added to a holding in Verizon Communications Inc by 1790.34%. The purchase prices were between $49.77 and $54.53, with an estimated average price of $52.14. The stock is now traded at around $53.000000. The impact to a portfolio due to this purchase was 0.4%. The holding were 217,899 shares as of 2021-12-31.
Added: McDonald's Corp (MCD)
Inverness Counsel Llc added to a holding in McDonald's Corp by 156.00%. The purchase prices were between $236.42 and $268.49, with an estimated average price of $252.91. The stock is now traded at around $259.850000. The impact to a portfolio due to this purchase was 0.38%. The holding were 63,257 shares as of 2021-12-31.
Added: Berkshire Hathaway Inc (BRK.B)
Inverness Counsel Llc added to a holding in Berkshire Hathaway Inc by 662.86%. The purchase prices were between $273.64 and $300.17, with an estimated average price of $286.71. The stock is now traded at around $316.510000. The impact to a portfolio due to this purchase was 0.36%. The holding were 38,265 shares as of 2021-12-31.
Added: Chipotle Mexican Grill Inc (CMG)
Inverness Counsel Llc added to a holding in Chipotle Mexican Grill Inc by 22.09%. The purchase prices were between $1592.1 and $1863, with an estimated average price of $1758.68. The stock is now traded at around $1452.940000. The impact to a portfolio due to this purchase was 0.29%. The holding were 24,624 shares as of 2021-12-31.
Added: JPMorgan Chase & Co (JPM)
Inverness Counsel Llc added to a holding in JPMorgan Chase & Co by 71.95%. The purchase prices were between $153.94 and $171.78, with an estimated average price of $164.11. The stock is now traded at around $153.070000. The impact to a portfolio due to this purchase was 0.2%. The holding were 82,717 shares as of 2021-12-31.
Sold Out: Sea Ltd (SE)
Inverness Counsel Llc sold out a holding in Sea Ltd. The sale prices were between $205.68 and $366.99, with an estimated average price of $296.89.
Sold Out: Vimeo Inc (VMEO)
Inverness Counsel Llc sold out a holding in Vimeo Inc. The sale prices were between $17.53 and $35.02, with an estimated average price of $24.11.
Sold Out: Teleflex Inc (TFX)
Inverness Counsel Llc sold out a holding in Teleflex Inc. The sale prices were between $289.48 and $378.74, with an estimated average price of $339.07.
Sold Out: HubSpot Inc (HUBS)
Inverness Counsel Llc sold out a holding in HubSpot Inc. The sale prices were between $633.79 and $852.08, with an estimated average price of $757.05.
Sold Out: BTC iShares MSCI USA Min Vol Factor ETF (USMV)
Inverness Counsel Llc sold out a holding in BTC iShares MSCI USA Min Vol Factor ETF. The sale prices were between $73.05 and $81.04, with an estimated average price of $77.29.
Sold Out: Alliance Data Systems Corp (ADS)
Inverness Counsel Llc sold out a holding in Alliance Data Systems Corp. The sale prices were between $65.13 and $82.01, with an estimated average price of $73.76.
Here is the complete portfolio of INVERNESS COUNSEL LLC . Also check out:1. INVERNESS COUNSEL LLC 's Undervalued Stocks2. INVERNESS COUNSEL LLC 's Top Growth Companies, and3. INVERNESS COUNSEL LLC 's High Yield stocks4. Stocks that INVERNESS COUNSEL LLC keeps buyingThis article first appeared onGuruFocus. || AUD/USD Forex Technical Analysis – Weakens Under .7182, Strengthens Over .7212: The Australian Dollar is inching lower on Monday after giving back earlier gains as the U.S. Dollar regained some of the strength it lost last week.
Weighing on the trade were mixed reactions to Friday’s U.S. Non-Farm Payrolls report that showed a miss on the headlines, but beats on the unemployment rate and average hourly earnings.
Additionally, the rapid spread of coronavirus in Australia was complicating the outlook for the economy and interest rates.
At 08:52 GMT, theAUD/USDis trading .7178, down 0.0004 or -0.06%. On Friday, theInvesco CurrencyShares Australian Dollar Trust EFT (FXA)settled at $71.04, down $0.02 or -0.03%.
The U.S. Dollar ran into selling on Friday when theDecember payrolls numbermissed forecasts, though the rest of the report was strong enough to see markets actually narrow the odds on a March hike from the Federal Reserve.
Making Aussie traders a little nervous about playing the long side is the explosion in coronavirus cases in Australia to 100,000-plus a day, compared to just a couple of thousand a month ago.
The main trend is up, according to the daily swing chart, however, momentum is trending lower. A trade through .7083 will change the main trend to down. A move through .7277 will reaffirm the uptrend.
The minor trend is down. This is controlling the momentum. A move through .7130 will indicate the selling pressure is getting stronger.
The AUD/USD is currently trading on the strong side of a 50% level at .7182, making it support.
On the upside, the first target is a 50% level at .7212. This is followed by the short-term retracement zone at .7275 to .7341. This zone is controlling the near-term direction of the Forex pair.
On the downside, the key support zone is .7135 to .7101. This area stopped the selling at .7130 on Friday and is the last potential support area before the .7083 main bottom.
The direction of the AUD/USD on Monday is likely to be determined by trader reaction to .7182.
A sustained move over .7182 will indicate the presence of buyers. The first upside target is .7212. This price is a potential trigger point for an acceleration to the upside with the next target the resistance cluster at .7275 – .7277.
A sustained move under .7182 will signal the presence of sellers. This could trigger a quick break into .7135 to .7101. Inside this zone is the minor bottom at .7130.
If .7101 fails as support then look for the selling to extend into the main bottom at .7083. This is a potential trigger point for an acceleration to the downside with .6993 – .6991 the next major target area.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
• AUD/USD Forex Technical Analysis – Weakens Under .7182, Strengthens Over .7212
• AUD/USD Price Forecast – Australian Dollar Gives Up Early Gains
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• Big Money Rings Up Dollar General
• Daily Gold News: Friday, Jan. 10 – Gold Price Still at $1,800
• U.S. Dollar Index (DX) Futures Technical Analysis – Ready to Challenge Wall of Resistance at 96.025 – 96.315 || Crypto Became More Mainstream, And So Did Digital Heists: AALSMEER, NETHERLANDS / ACCESSWIRE / March 3, 2022 /The plot of some of the most popular Hollywood movies is simple: the underdog needs a sum of money and decides to rob a bank. With a getaway driver, a vault specialist, and a partner in crime. However, the largest heists take place offline, with a fivefold increase in the theft of cryptocurrencies compared to 2020. Valuing a total of $3.2 billion stolen in digital currencies.
Does that mean that cryptocurrencies are unsafe? No, it just means that we still do not take all precautions to safeguard our digital money.Bitcoin Meester, the largest Dutch cryptocurrency trader, wants to raise awareness among cryptocurrencies users.
The problem is not that people choose unsafe passwords according to Boyd Meuleman, CTO of Bitcoin Meester. "The chance a hacker guesses your password, even when it is simple, is relatively small. The biggest danger is that people use the same password on different websites. That means that when there is a data breach hackers will be able to use that login information on other sites if you use the same password."
So, is it just as simple as choosing unique passwords? That would help, according to Meuleman, but "(…) the best thing would be to enable two-factor authentication to make your account even more secure." That is why Bitcoin Meester made it mandatory for all its users to set up two-factor authentication.
"Safety is a key topic for us. We want to be as secure as possible, and helping our clients keep their accounts safe is the best for us both." Bitcoin Meester themselves also take additional steps to ensure their client's digital currencies are safely stored. Bitcoin Meester keeps 95% of its wallets offline for safety purposes while maintaining full user access and 24/7 uptime flexibility.
Bitcoin Meester has registered itself at the DNB, the Dutch Securities and Exchange Commission, since 2020. The registration is part of a broad call on trader regulation, as they believe this will help the market mature. "We are doing everything we can to help our users make informed decisions, but we would like to see that those efforts become mandatory. If consumers legally get the protection that we offer, then that will benefit the market as a whole. The technology is safe, now let's make the human side of crypto trading just as safe."
Media Contact:
Bitcoin [email protected]
SOURCE:Bitcoin Meester
View source version on accesswire.com:https://www.accesswire.com/691423/Crypto-Became-More-Mainstream-And-So-Did-Digital-Heists || Suisse Secrets: Florida real estate baron tied to mob probes stashed millions in Swiss bank: Antonio Velardo wasnt happy. The suspected Italian money launderer, who would go on to invest in scores of South Florida properties, heard Switzerland had moved to dilute its famous banking secrecy laws, so that foreign authorities would be able to track down any bank accounts linked to tax evasion. Look, I need all the information on Switzerland, Velardo demanded of an associate in March 2009 in a profane missive. I really dont like this fact.
These f--kers [the Swiss] have sold themselves. Switzerland will become a f--ked up country. A--holes. Velardo, who had allegedly turned to Switzerland to stash several million dollars, had reason to be concerned. As part of a probe code-named Operation Metropolis that started the previous year, he was being pursued by Italian investigators who believed he was cleaning money for the Ndrangheta, one of the worlds biggest criminal groups. Related story lead image SUISSE SECRETS A cache of leaked data from a cornerstone of the global banking industry reveals how the rich, powerful and corrupt use secret Swiss accounts to move millions and funnel some of it into Florida real estate. Velardo would ultimately be acquitted in that probe and also beat the charges in another investigation connected to the Ndrangheta. That was in part, prosecutors and a judge said, because Velardos Swiss accounts remained secret. Until now. Drawing on bank account data leaked from Swiss banking giant Credit Suisse as part of the Suisse Secrets project , reporting that stems from a massive leak of internal bank documents from Credit Suisse, as well as information from Italian legal sources and other insiders, reporters from IrpiMedia , OCCRP and the Miami Herald discovered additional details about Velardo and an Italian real estate venture with his partner, convicted Irish Republican Army bomber Henry Harry Fitzsimons. Investors lost millions on the real estate project, but it has never been clear where much of the money went. Story continues Some of Velardos own money can now be traced to Credit Suisse, where he held secret accounts. Some of them were inaccessible to Italian authorities seeking to follow the money, even after police seized a seaside apartment complex called the Jewel of the Sea after investigators suspected it was used to launder Ndrangheta drug money. Velardo and Fitzsimons were major players in the project. Companies tied to Velardo and three other associates would go on to buy more than 130 properties across Florida in the years to come, as previously documented by the Herald as part of the Pandora Papers investigation , with the majority of homes in Miami-Dade County. The homes acquired by Velardos companies were typically modest, with an average purchase price of $100,000, and Velardos companies often sold them quickly and for a steep profit. Many of those purchases came as Velardo fended off criminal charges in both Operation Metropolis and another probe focused on money laundering and the Ndrangheta. Nearly all of the Florida real estate purchases were cash transactions. Velardo wouldnt say whether the money from his Credit Suisse accounts was used to buy the Florida real estate, but some of the Swiss accounts were opened in the name of companies with similar names to ones he used to make his Florida purchases. The real estate acquisitions highlight the ease with which anyone can buy properties in Florida with no questions asked, even people facing criminal charges. And the revelations about Velardos Swiss accounts illustrate the degree to which the global elite can keep details of their finances secret, even from criminal investigators. Made with Flourish Velardo has now reinvented himself as a real estate investor and would-be Bitcoin expert in Latin America and the Caribbean, boasting that he has a masters degree in digital currency. Simon Chambers represents dozens of jilted investors, who say they lost the equivalent of $9 million in the Italian real estate venture. After years of litigation, his clients were compensated at rates of 40-50% via an insurance claim. But had the extent of Velardos Credit Suisse accounts been known, Chambers said, the case might have been different. We knew the money had gone somewhere, Chambers said. It had to go somewhere. Swiss leak provides look behind curtain at how dictators, kleptocrats, spies stash cash Asked to comment on the findings of the Suisse Secrets investigation, the bank said: Credit Suisse has a strict duty of confidentiality and care to its clients, and we are unable to comment on claims put to us regarding any individuals, whether they are clients or not. When Harry met Antonio The 44-year-old Naples, Italy-born Antonio Velardo lived in the United States and U.K. before relocating to Cape Verde, the Atlantic archipelago off the coast of Senegal, where the Ndrangheta is believed by Italian investigators to have a presence. Thats where, in the mid-2000s, he started working with Fitzsimons, an enigmatic senior IRA officer who served a decade in prison for a 1971 bombing . Once free, Fitzsimons told reporters he had quit the IRA but still backed its political cause. Then, seemingly overnight, he became a heavyweight property developer in Belfast. In 2006, the pair opened an Irish company, VFI Overseas Properties Real Estate Agent Ltd., to launch real estate projects around the Ndrangheta heartland of Calabria, on the toe of Italys boot. The Calabrian town of Africo wasnt an obvious tourist destination, given its oppressive levels of organized crime. Nonetheless, by March 2007 Velardo and Fitzsimons were involved in a major project on Ndrangheta turf. Italian real estate developer Antonio Velardo and his Irish business partner Henry Harry Fitzsimons accepting an award on behalf of their company VFI Overseas Property at the 2009 CNBC European Property Awards. In March 2007, Velardo and Fitzsimons company signed a deal with Antonio Cuppari, who was constructing a huge apartment complex in the town of Brancaleone. Under the deal, VFI would sell apartments at the Jewel of the Sea, as Cupparis project would come to be known, in exchange for an unusually large 31% of the total sale price up front. But what foreign buyers didnt know was that the complex was being built by an Ndrangheta member. Cuppari was the local bagman for the Brancaleone-based Morabito Tiradrittu clan of the Ndrangheta, the Italian crime syndicate that dominates the cocaine trade between Latin America and Europe. In May 2007, Velardo bought plots of land next to Cupparis, with the idea of folding them into the Jewel of the Sea development. He knew, authorities believe, that since he was working with Cuppari a high-ranking Ndrangheta man masquerading as a developer he was protected. The Jewel of the Sea complex, at which many apartments remain unfinished, is seen in 2022. While Fitzsimons and Velardo officially invested one million euros (a little more than $1.1 million under current exchange rate) into the project, Cuppari kept pouring in funds that Italian officials later proved to be Ndrangheta drug money. In 2007 and 2008, Italian police began investigating Velardo. They suspected him of laundering profits not just for the Morabitos, but also for another Ndrangehta clan, the Mancusos of Limbadi, 37 miles to the north. After years of police surveillance of Cuppari, Velardo and Fitzsimons, antimafia authorities seized the partially built Jewel of the Sea in 2013. Cuppari was ultimately sentenced to 10 years in prison for mafia association and being part of the Ndrangheta of Africo, a section of Calabria. Velardo and Fitzsimons were tried and acquitted for lack of evidence. Although VFI sold hundreds of apartments in the complex, according to court records, journalists found that only 33 purchasers ever received the keys to their properties. Chambers said that many units were sold but never built. In addition to the insurance money Chambers clients received, Giambrone and Law, a law firm that represented VFI, would later be ordered to pay 41 customers some 3.5 million euros (just under $4 million) in compensation. Closing in on Credit Suisse Though Italian authorities suspected Velardo had wealth hidden away, they struggled to find it. On wiretaps, Velardo mentioned a Ferrari bought for 300,000 euros ($340,000) and a 10-million-pound ($13.6 million) London property purchase. His bank accounts, he claimed, held enormous sums. When a friend pitched him the idea of buying paintings, Velardo explained he only invested big. Italian financial police in the southern city of Catanzaro had a breakthrough in March 2010 as part of a separate sting against Velardo and his associates, this one code-named Black Money. By now, the Jewel of the Sea buyers were trying to get their money back. At the Italian-Swiss border, police stopped one of Velardos Calabrian accountants, Ercole Palasciano, just after he had met Velardo. They searched financial files he was carrying. The papers showed that Velardo and Fitzsimons owned a trust company together in Cyprus, which appeared to be where they were sending real estate profits including Jewel of the Sea money to avoid taxes, according to court records. Velardo had also stashed some money in Switzerland. The Suisse Secrets data shows that Velardo had one personal account and two corporate accounts at Credit Suisse. By 2011, his personal account had reached maximum balances of 1.75 million Swiss francs ($2 million) and one of the company accounts was worth 1.52 million Swiss francs ($1.7 million), according to the Suisse Secrets data. A smaller company account held a maximum balance of 29.300 Swiss francs ($33,000) before being closing in 2012. Velardo also had three other accounts that do not appear in the data, Italian police later learned. By the time Velardo was picked up on wiretaps fretting over Swiss banking secrecy, Italian officials had asked Swiss authorities to trace his assets but they were short on hard facts. It was not until 2014, one year after the Black Money and Metropolis charges against Velardo and five years after he had been wiretapped that Italian authorities would learn of these accounts existence from the Swiss. According to Italian investigators, Swiss authorities did belatedly move to freeze two of Velardos accounts, one of which is shown in the Suisse Secrets data set. These accounts held more than 300,000 euros ($339,000). However, the Swiss said three company accounts related to him could not be seized. This, they told the Italians, was because the accounts were held in the name of Apax, a Marshall Islands company, and not in Velardos name. Velardo registered two Florida companies in 2012, Apax Holding Corp and Apax 01 LLC , that were responsible for the bulk of the Florida purchases. Like other investors, Velardo previously told the Herald he was drawn by the unique opportunity to buy distressed and foreclosed properties at a discount after the Great Recession. All told, the two companies, later known as American Wise Investments Holding Corp and American Wise 01 LLC , were involved in the purchase of nearly 50 properties in Florida between 2012 and 2015 for more than $4.7 million. All came as Velardo was still facing criminal charges in Italy. Velardo declined to say whether money from his Credit Suisse accounts was used to fund these Florida property purchases. Tracing the financial flows That the Credit Suisse accounts survived Velardos trials which were widely covered in Italian media and suspected Ndrangheta connections raises serious questions about due diligence procedures at the bank. By 2013 he was infamous: a suspected Ndrangheta money launderer, in business with a convicted terrorist. Swiss banks are key for the Ndrangheta, said an antimafia prosecutor in Calabria. Clans can bring money in safes there, and we would never know. It has taken place since the 1980s, with the spalloni [bagmen] of the Ndrangheta walking up to Switzerland with cash. Credit Suisse headquarters in Zurich In a statement, the bank said: Credit Suisse operates its business in compliance with all applicable global and local laws and regulations. In recent years the bank has taken a series of significant measures in line with Swiss financial reforms, including considerable investment specifically in compliance and combating financial crime. Facing two separate sets of charges stemming from alleged money laundering by 2013, Velardo was later acquitted in Reggio Calabria on the Operation Metropolis charges. Though initially convicted on one of the charges in the Black Money probe, the charge was later dropped on appeal after the statute of limitations expired. Fitzsimons, his partner, was also acquitted after being arrested in Senegal and extradited to Italy to stand trial. In acquitting Velardo, Fitzsimons and Cuppari in 2016 on the money laundering charge in the Metropolis probe, a judge wrote that prosecutors had not made their case that the funds used for the project came from illegal sources. The judge added that prosecutors had been hindered by the scarce collaboration offered by the foreign police authorities, and that it would have been beneficial if prosecutors had been able to access the Swiss accounts they presumed Velardo and Fitzsimons held. That was echoed by prosecutors who worked on the case. A prosecutor who worked on the case said it was difficult to prove a case against Velardo and Fitzsimons because they kept their money moving between so many different jurisdictions. It was impossible to demonstrate the money flow, he told OCCRP. Velardo did not answer questions about his own alleged personal ties to Ndrangheta-connected people. Jamie Diaferia, a spokesman for Velardo, insisted that Velardo had not known Cuppari was connected to the Ndrangheta. He said in a statement: VFIs role in the Jewel of the Sea development was limited to serving as a broker agency on the sale of units. Although some individuals connected to the development were sued, VFIs owners were not. No one, including investors in the development and purchasers of units, has ever alleged that VFI or its owners committed any wrongdoing. Dan McGuinness, a lawyer representing Fitzsimons, told OCCRP that his client had been subjected to an inexcusable judicial error and was completely innocent, noting that the Italian Supreme Court had acquitted him of money laundering. The basis for Fitzsimons acquittal was lack of evidence. Fitzsimons wealth stems from a 40-year business career, and he is now retired, his lawyer said. Its become an absolute nightmare Velardos business focus appears to have veered away from his native Italy. After his Florida real estate buying spree, he has more recently popped up in the Caribbean, where he heavily touts his business expertise on a website , a LinkedIn page , and a personal Medium blog. He describes himself as the head of a firm called Real Capital Caribe that invests in Dominican Republic real estate. But there are signs that Velardos ties to Calabria remain strong. In 2018, Francesco Colacino, who was investigated alongside Velardo in the Black Money probe, was given power of attorney over Real Capital Caribe bank accounts Real Capital Caribe is now selling apartments in two condo hotels in Santo Domingo. The Jewel of the Sea complex, meanwhile, is desolate. Construction never resumed. A partial aerial overview of the Jewel of the Sea complex, taken in 2022. If I would have known [then] what I know now, I would have jumped on the fastest plane on the planet and left, one owner said. It is a jewel of the sea, but its become an absolute nightmare for us. Shirsho Dasgupta of the Miami Herald and Rahma Behi and Walid Mejri of Al Qatiba contributed. || Beirne Wealth Consulting Services, LLC Buys iShares Residential and Multisector Real Estate ET, ...: Investment companyBeirne Wealth Consulting Services, LLC(Current Portfolio) buys iShares Residential and Multisector Real Estate ET, ARK Innovation ETF, Invesco Variable Rate Preferred ETF, VanEck Gold Miners ETF, Newmont Corp, sells iShares Core MSCI Emerging Markets ETF, iShares MSCI Intl Multifactor ETF, iShares MSCI Emerging Markets ETF, Invesco Dynamic Large Cap Growth ETF, BTC iShares MSCI Emerging Markets Multifactor ETF during the 3-months ended 2021Q4, according to the most recent filings of the investment company, Beirne Wealth Consulting Services, LLC. As of 2021Q4, Beirne Wealth Consulting Services, LLC owns 104 stocks with a total value of $183 million. These are the details of the buys and sells.
• New Purchases:REZ, VRP, NEM, VOO, ORCL, NEA, GAME, GAME,
• Added Positions:IWD, AGG, HYG, ARKK, GDX, FLOT, IEFA, LRGF, IVV, DRRX, PAAS, SMLF, IJH, BAC, IJR, XOM, ALT, WTRH, MS, DUK, V,
• Reduced Positions:IEMG, INTF, EEM, EMGF, IWF, IJJ, ACWI, IWM, IWN, AMLP, AMZN, DVYE, VWO, FCX, PYPL, GOOG, MSFT, XLK, IYJ, T, PDS, ITB, AAPL, OIH, JNJ, COOP, CCJ, VB, VEA, EFV, AMZA, EQX, HON,
• Sold Out:PWB, NAVI, XLF, DKNG, DIS, PLTR, NVAX, FB, EFA, EWZ, EXAS, EPOL, STNG, MNKD, GCI, SDC, IMMP, NAK,
• Warning! GuruFocus has detected 5 Warning Signs with BLMN. Click here to check it out.
• ARKK 15-Year Financial Data
• The intrinsic value of ARKK
• Peter Lynch Chart of ARKK
For the details of Beirne Wealth Consulting Services, LLC's stock buys and sells,go tohttps://www.gurufocus.com/guru/beirne+wealth+consulting+services%2C+llc/current-portfolio/portfolio
These are the top 5 holdings of Beirne Wealth Consulting Services, LLC
1. iShares Core S&P 500 ETF (IVV) - 42,257 shares, 11.03% of the total portfolio. Shares added by 1.58%
2. iShares MSCI USA Multifactor ETF (LRGF) - 392,459 shares, 10.00% of the total portfolio. Shares added by 1.75%
3. iShares Core U.S. Aggregate Bond ETF (AGG) - 141,986 shares, 8.86% of the total portfolio. Shares added by 10.73%
4. iShares Russell 1000 Value ETF (IWD) - 86,232 shares, 7.93% of the total portfolio. Shares added by 12.23%
5. iShares MSCI ACWI Index Fund (ACWI) - 103,437 shares, 5.99% of the total portfolio. Shares reduced by 2.42%
New Purchase: iShares Residential and Multisector Real Estate ET (REZ)
Beirne Wealth Consulting Services, LLC initiated holding in iShares Residential and Multisector Real Estate ET. The purchase prices were between $85.52 and $98.23, with an estimated average price of $91.57. The stock is now traded at around $93.170000. The impact to a portfolio due to this purchase was 0.68%. The holding were 12,600 shares as of 2021-12-31.
New Purchase: Invesco Variable Rate Preferred ETF (VRP)
Beirne Wealth Consulting Services, LLC initiated holding in Invesco Variable Rate Preferred ETF. The purchase prices were between $25.44 and $25.91, with an estimated average price of $25.72. The stock is now traded at around $25.270000. The impact to a portfolio due to this purchase was 0.34%. The holding were 24,083 shares as of 2021-12-31.
New Purchase: Newmont Corp (NEM)
Beirne Wealth Consulting Services, LLC initiated holding in Newmont Corp. The purchase prices were between $53.27 and $62.02, with an estimated average price of $56.75. The stock is now traded at around $61.800000. The impact to a portfolio due to this purchase was 0.28%. The holding were 8,172 shares as of 2021-12-31.
New Purchase: Vanguard S&P 500 ETF (VOO)
Beirne Wealth Consulting Services, LLC initiated holding in Vanguard S&P 500 ETF. The purchase prices were between $392.77 and $439.01, with an estimated average price of $421.15. The stock is now traded at around $410.590000. The impact to a portfolio due to this purchase was 0.22%. The holding were 918 shares as of 2021-12-31.
New Purchase: Oracle Corp (ORCL)
Beirne Wealth Consulting Services, LLC initiated holding in Oracle Corp. The purchase prices were between $87.21 and $103.65, with an estimated average price of $93.89. The stock is now traded at around $81.940000. The impact to a portfolio due to this purchase was 0.11%. The holding were 2,373 shares as of 2021-12-31.
New Purchase: Nuveen AMT-Free Municipal Income Fund (NEA)
Beirne Wealth Consulting Services, LLC initiated holding in Nuveen AMT-Free Municipal Income Fund. The purchase prices were between $14.87 and $15.6, with an estimated average price of $15.22. The stock is now traded at around $14.090000. The impact to a portfolio due to this purchase was 0.11%. The holding were 13,162 shares as of 2021-12-31.
Added: ARK Innovation ETF (ARKK)
Beirne Wealth Consulting Services, LLC added to a holding in ARK Innovation ETF by 29.15%. The purchase prices were between $91.12 and $124.1, with an estimated average price of $108.29. The stock is now traded at around $69.040000. The impact to a portfolio due to this purchase was 0.65%. The holding were 55,742 shares as of 2021-12-31.
Added: VanEck Gold Miners ETF (GDX)
Beirne Wealth Consulting Services, LLC added to a holding in VanEck Gold Miners ETF by 126.23%. The purchase prices were between $29.16 and $34.3, with an estimated average price of $31.49. The stock is now traded at around $30.250000. The impact to a portfolio due to this purchase was 0.32%. The holding were 32,321 shares as of 2021-12-31.
Added: Waitr Holdings Inc (WTRH)
Beirne Wealth Consulting Services, LLC added to a holding in Waitr Holdings Inc by 33.33%. The purchase prices were between $0.74 and $2.05, with an estimated average price of $1.16. The stock is now traded at around $0.508500. The impact to a portfolio due to this purchase was 0.01%. The holding were 80,000 shares as of 2021-12-31.
Sold Out: Invesco Dynamic Large Cap Growth ETF (PWB)
Beirne Wealth Consulting Services, LLC sold out a holding in Invesco Dynamic Large Cap Growth ETF. The sale prices were between $73.2 and $82.12, with an estimated average price of $78.82.
Sold Out: Navient Corp (NAVI)
Beirne Wealth Consulting Services, LLC sold out a holding in Navient Corp. The sale prices were between $18.58 and $21.66, with an estimated average price of $20.26.
Sold Out: Financial Select Sector SPDR (XLF)
Beirne Wealth Consulting Services, LLC sold out a holding in Financial Select Sector SPDR. The sale prices were between $37.36 and $40.43, with an estimated average price of $39.16.
Sold Out: DraftKings Inc (DKNG)
Beirne Wealth Consulting Services, LLC sold out a holding in DraftKings Inc. The sale prices were between $26.59 and $49.82, with an estimated average price of $38.79.
Sold Out: The Walt Disney Co (DIS)
Beirne Wealth Consulting Services, LLC sold out a holding in The Walt Disney Co. The sale prices were between $142.15 and $177.71, with an estimated average price of $161.
Sold Out: Palantir Technologies Inc (PLTR)
Beirne Wealth Consulting Services, LLC sold out a holding in Palantir Technologies Inc. The sale prices were between $17.96 and $26.75, with an estimated average price of $21.99.
Here is the complete portfolio of Beirne Wealth Consulting Services, LLC. Also check out:1. Beirne Wealth Consulting Services, LLC's Undervalued Stocks2. Beirne Wealth Consulting Services, LLC's Top Growth Companies, and3. Beirne Wealth Consulting Services, LLC's High Yield stocks4. Stocks that Beirne Wealth Consulting Services, LLC keeps buyingThis article first appeared onGuruFocus.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 38794.97, 38904.01, 37849.66, 39666.75, 39338.79, 41143.93, 40951.38, 41801.16, 42190.65, 41247.82
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2016-02-11]
BTC Price: 379.65, BTC RSI: 45.63
Gold Price: 1247.90, Gold RSI: 84.55
Oil Price: 26.21, Oil RSI: 33.93
[Random Sample of News (last 60 days)]
JPMorgan launches blockchain trial project -FT: Jan 31 (Reuters) - JPMorgan Chase is partnering with start-up Digital Asset Holdings to launch a trial project using blockchain technology that could reduce the cost and complexity of trading, the Financial Times reported on Sunday.
The agreement comes as another sign that blockchain, which is best known as the basis of the digital currency Bitcoin, has wide-ranging applications for some of Wall Street's biggest banks.
One potential use for the technology is addressing liquidity mismatches in some of JPMorgan's loan funds, the Financial Times said.
"To sell a loan is a very cumbersome, time-consuming process; settlement can take weeks," Daniel Pinto, head of JPMorgan's investment bank, told the Financial Times. It "makes all the sense in the world" to explore blockchain's potential to improve that process.
Digital Asset Holdings is run by Blythe Masters, JPMorgan's former head of commodities.
(Reporting by Carl O'Donnell; Editing by Peter Cooney) || MarilynJean Interactive (MJMI.QB) Shareholder Update: Marilynjean Interactive ( MJMI ) Is Pleased To Update Its Shareholders on Its Business Plan for the Coming Year HENDERSON, NV / ACCESSWIRE / January 18, 2016 / The crypto-currency space saw major strides forward in 2015 with ground-breaking developments in its underlying technology and regulation as well as an unexpected rise in Bitcoin prices. The space appears poised for a quantum leap forward in 2016 and MarilynJean is excited to be a part of what will likely be tremendous growth in the industry. From a technology standpoint, Bitcoin's blockchain is envisioned to revolutionize the settlement of securities and payments for both financial and non-financial institutions alike. Major stock and futures exchanges, clearing houses, and other technology organizations are exploring the use of blockchain technology to underpin their transaction verification systems. Bloomberg estimates that approximately $373 million was invested in Bitcoin start-ups in 2015. As investment in Bitcoin and blockchain technology grew, new regulation evidenced that Bitcoin is on track to become a widely used and accepted currency. New York issued its first Bitlicense allowing Goldman Sachs backed Circle Internet Financial to offer digital currency services in the state. The advent of regulated exchanges and trading instruments may have been a factor in driving demand for Bitcoin, its value having increased over 40% in 2015. While price volatility remained higher than traditional FIAT currencies, 2015 was overall a more stable year than its predecessor for Bitcoin. Looking ahead to 2016, MJMI plans to continue its focus on the key verticals of exchange, remittance and gaming. In addition, the Company plans to seek partnerships with firms involved specifically in development of applications based on blockchain technology. The Company plans to continue to expand its management and advisory board in 2016, advance the partnerships it began negotiating last year and continue to forge new alliances in the space. Story continues Peter Janosi, MJMI's president said: "We believe that MJMI's best avenue for growth is via acquisitions and strategic partnerships. We expect the industry to continue to expand and evolve rapidly and, as such, we expect our publicly traded currency to be a key strategic tool for growth and financing." About MJMI MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies. Crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular Bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of Bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. MJMI is currently exploring partnerships in several verticals within the crypto-currency space. Management believes that several industries, including international remittances, currency exchange and online gambling are on the verge of being revolutionized by the use of Bitcoin to effect transactions. MarilynJean Media Interactive is among the first publicly traded companies focused on Bitcoin and the crypto-currency space. The company's trading symbol is OTCQB: MJMI. Website: www.marilynjean.com Press Contact: [email protected] SOURCE: MarilynJean Media Interactive || 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 || JPMorgan launches blockchain trial project: FT: (Reuters) - JPMorgan Chase is partnering with start-up Digital Asset Holdings to launch a trial project using blockchain technology that could reduce the cost and complexity of trading, the Financial Times reported on Sunday. The agreement comes as another sign that blockchain, which is best known as the basis of the digital currency Bitcoin, has wide-ranging applications for some of Wall Street's biggest banks. One potential use for the technology is addressing liquidity mismatches in some of JPMorgan's loan funds, the Financial Times said. “To sell a loan is a very cumbersome, time-consuming process; settlement can take weeks,” Daniel Pinto, head of JPMorgan’s investment bank, told the Financial Times. It “makes all the sense in the world" to explore blockchain's potential to improve that process. Digital Asset Holdings is run by Blythe Masters, JPMorgan's former head of commodities. (Reporting by Carl O'Donnell; Editing by Peter Cooney) View comments || Ledger Fights For Bitcoin's Staying Power At CES 2016: The Consumer Electronics Show in Las Vegas is a chance for electronics and technology firms to debut their latest offerings and future prospects. Everything from self-driving cars to mind-blowing virtual reality sets have made their debut at CES, and each year the show tends to set the tone for what kind of tech will be big in the coming year.
This year, bitcoin startupLedgeris keeping the cryptocurrency in the spotlight by hosting the only bitcoin startup booth at the event.
Physical Bitcoin Storage
Ledger created a hardware wallet product in 2015 that provides customers with a safe and secure way to store and use their bitcoins. Ledger takes some of the worry out of using bitcoin by giving users a physical way to store bitcoins – a lightweight smart card. They can then use a USB to make secure payments, and the company offers a simple backup system that provides users with a microchip and pin code encrypted system in case they lose their card.
Related Link:Can The Bitcoin Foundation Last?
This year, Ledger is planning to exhibit new offerings at CES including a new technology that will strengthen the security of online authentication by reducing the reliance on passwords.
Bitcoin's Year
Ledger's presence at CES suggests that although bitcoin had a rough year in 2015, the cryptocurrency isn't dead yet. Concerns about privacy and security have increased skepticism about cryptocurrencies, making it difficult for bitcoin firms to push mainstream approval. However, many believe that as security improves and more and more vendors open up to the possibility of bitcoin transactions, the public will get on board.
Image Credit: Public Domain
See more from Benzinga
• Virtual Reality In 2016
• Is Tesla A Good Investment For 2016?
• 3 CEOs Who Made Headlines In 2015
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || JPMorgan launches blockchain trial project -FT: Jan 31 (Reuters) - JPMorgan Chase is partnering with start-up Digital Asset Holdings to launch a trial project using blockchain technology that could reduce the cost and complexity of trading, the Financial Times reported on Sunday. The agreement comes as another sign that blockchain, which is best known as the basis of the digital currency Bitcoin, has wide-ranging applications for some of Wall Street's biggest banks. One potential use for the technology is addressing liquidity mismatches in some of JPMorgan's loan funds, the Financial Times said. "To sell a loan is a very cumbersome, time-consuming process; settlement can take weeks," Daniel Pinto, head of JPMorgan's investment bank, told the Financial Times. It "makes all the sense in the world" to explore blockchain's potential to improve that process. Digital Asset Holdings is run by Blythe Masters, JPMorgan's former head of commodities. (Reporting by Carl O'Donnell; Editing by Peter Cooney) || 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 || Blockchain Gets A Much-Needed Stamp Of Approval: Finance firm Goldman Sachs Group Inc (NYSE: GS ) has become a pillar of the financial sector with traders looking to the bank's advice for everything from investing to saving. For that reason, Goldman Sachs Director Don Duet's positive remarks regarding blockchain could be a catalyst for the technology's success. Blockchain Potential Bitcoin has had a rough ride over the past year, as many of the coin's users suffered losses due to volatile prices and exchange collapses. However, the technology that bitcoin runs on – a ledger-like system called blockchain – has been gaining momentum. This is especially true in the financial sector, where banks say blockchain could improve their operations and make things like cross-border payments more streamlined. Related Link: Blockchain Moves Forward In The Financial Industry Using Blockchain Earlier this month, Duet commented on blockchain, saying that he sees the technology as both exciting and groundbreaking. He said blockchain systems have the potential to revolutionize banking operations and the technology could help banks share information and conduct asset transfers more easily and securely. A Single Truth Duet said blockchain provides banks with a "single truth," meaning that it creates one constant system that all banks can use. One of the problems with the banking sector as it currently stands, he said, is that every bank is operating with different systems and protocols. Because of this, banks have to spend a lot of time reconciling differences in order to conduct transactions. However, using blockchain could change all of that by providing banks with one single ledger updated with each transaction. A Bright Future While Duet's comments were general in nature, many saw his optimism regarding blockchain as a positive sign for the future. Banks like Goldman Sachs, Morgan Stanley (NYSE: MS ) and Citigroup Inc (NYSE: C ) have been exploring how blockchain might fit into their operations in recent months, and Duet's remarks suggest the outlook is promising. See more from Benzinga Can Bank Stocks Recover? Banks' Earnings Tell A Tale Of Cost Cutting Is Bank Of America Ripe For A Turnaround? © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || 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 CommunicationsPlc's (CWC) business unit in Panama,Cable & Wireless PanamaSA (CWP) andHuawei, 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.
About HuaweiHuawei 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.fastG.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 CommunicationsCable & 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 CWPCable & 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. || 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 Not All Of Clinton's Policies Are Bad For Pharmaceuticals © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
Current price: 389.7$ $BTCUSD $btc #bitcoin 2016-01-15 09:00:02 EST || $381.78 #btce;
$381.55 #coinbase;
$377.00 #bitstamp;
$376.43 #bitfinex;
#bitcoin #btc || Current price: 275.53£ $BTCGBP $btc #bitcoin 2016-01-26 02:00:30 GMT || LIVE: Profit = $372.08 (4.41 %). BUY B20.48 @ $420.00 (#VirCurex). SELL @ $432.00 (#BTCe) #bitcoin #btc - http://www.projectcoin.org || LIVE: Profit = $503.49 (5.96 %). BUY B20.51 @ $420.00 (#VirCurex). SELL @ $436.71 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || 1 INFX Price: Bittrex 0.00001902 BTC #infx #infxprice 2016-02-07 05:00 pic.twitter.com/xM0i89kl6X || LIVE: Profit = $128.42 (6.28 %). BUY B5.28 @ $410.00 (#VirCurex). SELL @ $413.30 (#BTCe) #bitcoin #btc - http://www.projectcoin.org || In the last 10 mins, there were arb opps spanning 15 exchange pair(s), yielding profits ranging between $0.00 and $1,065.97 #bitcoin #btc || Bitstamp: $430.00/BTC - last trade of USD/BTC at https://www.bitstamp.net/ (high: 434.97, low: 429.03) #bitcoin #BTC http://bitcoinautotrade.com || In the last 10 mins, there were arb opps spanning 13 exchange pair(s), yielding profits ranging between $0.00 and $911.52 #bitcoin #btc
|
Trend: up || Prices: 384.26, 391.86, 407.23, 400.18, 407.49, 416.32, 422.37, 420.79, 437.16, 438.80
|
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 2020-09-29]
BTC Price: 10844.64, BTC RSI: 51.56
Gold Price: 1894.30, Gold RSI: 45.16
Oil Price: 39.29, Oil RSI: 44.90
[Random Sample of News (last 60 days)]
Gemini lists seven new DeFi tokens, including UNI and YFI: Crypto exchange and custodian Gemini has added support for seven new decentralized finance (DeFi) tokens. These are Balancer (BAL), Curve (CRV), Ren Network (REN), Synthetix Network (SNX), Uma (UMA), Uniswap (UNI), and Yearn.finance (YFI), Gemini announced Friday. "We believe in the potential of DeFi and are here to help usher in this next wave of growth and financial innovation for the world," said Cameron and Tyler Winklevoss, founders of Gemini. "DeFi promises greater choice, independence, and opportunity for all." Gemini is also adding trading support for five more tokens: Decentraland (MANA), Kyber Network (KNC), Maker (MKR), Storj (STORJ), and 0x (ZRX). These are already supported for custody. Additionally, Gemini is supporting three new tokens for its custody service: Keep Network (KEEP), Wrapped Bitcoin (wBTC), and tBTC (tBTC). Gemini said deposits for these tokens began at 8 am ET today, and trading will start at 11 am ET via limit orders on Gemini's API and ActiveTrader solution. On the website and mobile applications, trading will open on a rolling, token-by-token basis as liquidity builds, said Gemini. With today's additions, Gemini now supports a total of 24 tokens for trading and 34 tokens for custody. Notably, New York residents are allowed to trade in DeFi tokens on Gemini. Rival Coinbase blocks residents of the state from trading in DeFi tokens on its platform. © 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 and Ripple’s XRP Weekly Technical Analysis – August 10th, 2020: Bitcoin rose by 5.57% in the week ending 9thAugust. Following on from an 11.11% rally from the previous week, Bitcoin ended the week at $11,675.3.
It was a bullish week for Bitcoin and the broader market. Bitcoin slipped to a Monday intraweek low $10,943.0 before making a move.
Steering clear of the first major support level at $9,967, Bitcoin rallied to a Friday intraweek high $11,900.
Falling short of the week’s first major resistance level at $12,119, Bitcoin fell back to $11,500 levels before finding support.
5 days in the green that included a 4.93% rally on Wednesday delivered the upside for the week.
Bitcoin would need to avoid a fall through $11,506 pivot to support another run the first major resistance level at $12,069 into play.
Support from the broader market would be needed for Bitcoin to break out from the current week high $12,060.
Barring another extended crypto rally, the first major resistance level would likely cap any upside.
In the event of a breakout, Bitcoin could break out from the second major resistance level at $12,463 to target $13,000 levels.
A fall through the $11,506 pivot would bring the first major support level at $11,112 into play.
Barring an extended sell-off, Bitcoin should avoid sub-$11,000 levels and the second major support level at $10,549.
At the time of writing, Bitcoin was up by 2.80% to $12,002.0. A bullish start to the week saw Bitcoin rise from an early morning low $11,675.3 to a high $12,060 on Monday.
Bitcoin tested the first major resistance level at $12,069 at the start of the week.
Ripple’s XRP slipped by 0.04% in the week ending 9thAugust. Following the previous week’s 33.50% breakout, Ripple’s XRP ended the week at $0.28781.
A bullish start to the week saw Ripple’s XRP rally to a Monday intraweek high $0.31950 before hitting reverse.
Falling short of the first major resistance level at $0.3395, Ripple’s XRP slid to a Friday intraweek low $0.27742.
Steering well clear of the first major support level at $0.22249, Ripple’s XRP revisited $0.29 levels before slipping back to sub-$0.29 levels and into the red.
3-days in the red reversed Monday’s 7.68% rally to leave Ripple’s XRP in the red for the week.
Ripple’s XRP would need to avoid a fall through the $0.29491 pivot to support a run at the first major resistance level at $0.31240.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.31 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of another breakout, 23.6% FIB of $0.3134 and the second major resistance level at $0.33699 could come into play.
A fall through the $0.29491 pivot would bring the first major support level at $0.27032 into play.
Barring an extended broader-market sell-off, however, Ripple’s XRP should steer well clear of the second major support level at $0.25283.
At the time of writing, Ripple’s XRP was up by 2.62% to $0.29536. A bullish start to the week saw Ripple’s XRP rise from an early Monday low $0.28821 to a high $0.29550.
Ripple’s XRP left the major support and resistance levels untested at the start of the week.
Thisarticlewas originally posted on FX Empire
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• EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 10th, 2020 || Missouri Man Pleads Guilty to Trying to Buy Chemical Weapons With Bitcoin: A 45-year-old Missouri man pleaded guilty on Tuesday to charges related to his trying to buy chemical weapons on the dark web using $150 in bitcoin. Jason William Siesser admitted in U.S. District Court for the Western District of Missouri he attempted to pay $52 in bitcoin per vial of an unnamed chemical weapon on two occasions in the summer of 2018. Prosecutors said the “highly toxic chemical” was potent enough to “kill approximately 300 persons” at the levels Siesser sought, and that he had told the seller he planned to use them imminently. Siesser, whom FBI agents detained within minutes of the package’s arrival in late August 2018, also admitted on Tuesday to identity theft. He had had the package sent to a juvenile living at his address “because [Siesser] did not want to get in trouble if the purchase was traced to him,” the plea deal stated. The package Siesser ultimately received contained an inert substance, not a chemical weapon. Even so, agents found a potentially deadly trio – cadmium arsenide, cadmium metal and hydrochloric acid – at Siesser’s Missouri residence. Siesser faces a minimum five-year sentence, according to a press release from the Department of Justice. Read the plea deal below: Related Stories Missouri Man Pleads Guilty to Trying to Buy Chemical Weapons With Bitcoin Missouri Man Pleads Guilty to Trying to Buy Chemical Weapons With Bitcoin Missouri Man Pleads Guilty to Trying to Buy Chemical Weapons With Bitcoin Missouri Man Pleads Guilty to Trying to Buy Chemical Weapons With Bitcoin || Bitcoin Has Been Less Volatile Than Tesla Stock for Months: Bitcoin (BTC) is often criticized for being over volatile, but its been a sea of calm compared with Tesla stock in recent months. Tesla (TSLA) has been seeing bigger daily percentage moves since the end of June, according to 30-day realized volatility data. Further, the volatility gulf between the two assets has been widening in recent weeks. Bitcoin witnessed a below-1.25% daily move in 14 out of the last 27 days, according to data from TradingView almost 52% of the time. However, Tesla only achieved sub-1.25% moves 6% of the time over the same period, data source Skew tweeted early Monday. People always assume bitcoin is incredibly volatile, but its not more volatile than many popular tech stocks, Skew co-founder and CEO Emmanuel Goh told CoinDesk. Looking at the price charts, both bitcoin and Tesla have witnessed two-way business this month and formed contracting triangles (narrowing price ranges), as shown below. However, Tesla has seen a month-to-date price decline of 18% far worse than bitcoins 6% drop. Bitcoins 30-day historical volatility, which measures the price action realized in the past 30 days, has been flatlined near 55% (annualized) since Sept. 3. Further, its 30-day implied volatility that is, investors expectations of how volatile price will be over the next four weeks has declined to 44%, the lowest level in nearly two years. In the past, big moves have been preceded by an implied volatility reading of less than 50%. At press time, the cryptocurrency is currently trading at $10,911, representing an over 2% gain on the day. The weekly chart MACD histogram, an indicator used to identify trend changes and trend strength, has crossed bearish below zero. As such, the cryptocurrency may face some chart-driven selling pressure in the short term. Also read: The Real Story Behind Teslas Crazy Rally Related Stories Bitcoin Has Been Less Volatile Than Tesla Stock for Months Bitcoin Has Been Less Volatile Than Tesla Stock for Months Bitcoin Has Been Less Volatile Than Tesla Stock for Months Bitcoin Has Been Less Volatile Than Tesla Stock for Months || SaTT Smart Advertising Token Raises USD 7.1M, Rare Feat in 2020 Lackluster ICO Landscape: SINGAPORE, Sept. 25, 2020 (GLOBE NEWSWIRE) -- Smart advertising marketplace SaTT is pleased to announce that its fundraising crowd sale has raised a total of USD 7.1 million against the generally lackluster ICO terrain in 2020. Hitting its soft cap of USD 3,360,000 within a week, the SaTT crowd sale closed at USD 7,146,854 yesterday. “Many thanks to all our loyal supporters for the past two years and a big welcome to the new members of our SaTT family!” said Gauthier Bros , SaTT CEO, expressing his appreciation for the staunch SaTT community. “We will continue in our journey of innovation in the advertising industry. Delivering a working product is only a first step. When people talk about advertising and influencer marketing platforms, we want SaTT to be top of mind - a goal we will put our hundred percent behind! ” The SaTT smart marketing decentralized app (dApp) is developed by the core team of Atayen Inc ., famed for creating the iFrames suite of apps for business pages on Facebook. Atayen’s client list reads like a Who’s Who of the top global advertisers - Coca Cola, Disney, McDonald’s, Nike, Disney, to name a few. The SaTT platform has taken two years before it delivered a working platform in Q3 2020. Targeting key pain points that plague the advertising supply chain, it offers an alternative way to tackle ad fraud, payment delays and competition barriers. Utilizing smart contracts and blockchain oracles, the SaTT smart advertising platform delivers a fast, cost-effective, transparent and secure solution for advertisers. With the completion of its fundraising crowd sale, SaTT announced yesterday on its blog that it was scheduling a token burn of all the unsold tokens today. As part of a deflationary tokenomics move to restrict the supply of SATT, this is a practice generally used to increase demand for a token, thereby increasing its value. Already trading on global digital asset trading platform BW Exchange yesterday immediately after the fundraiser closed, SaTT has also announced that ProBit Exchange will open today for trading. Story continues About SaTT SaTT, which stands for Smart Advertising Transaction Token, is a utility token that enables advertisers to buy smart advertising services on its ethereum-based dApp. All transactions between advertisers and influencers/publishers are governed by the SaTT smart contract which ensures speed, transparency and security, and is cost-efficient. The SaTT dApp helps to quantify ROI by using blockchain oracles to retrieve data from 3rd-party API of social media platforms like YouTube, Facebook, Twitter, Instagram etc. Actions performed, such as LIKES, SHARES, VIEWS, TWEETS etc. can then be evaluated and if all criteria is successfully met, payments are triggered automatically from the advertiser’s preloaded budget to the wallet of the influencer/publisher. Fast, tamper-proof, secure and cost-efficient, the SaTT smart advertising system is a perfect use case of the ethereum smart contract. https://satt-token.com SaTT Officials: Twitter: https://twitter.com/SaTT_Token Facebook Page: https://www.facebook.com/SaTT.Token LinkedIn: https://www.linkedin.com/showcase/satt-token Telegram: https://t.me/satttoken Bitcoin Talk: https://bitcointalk.org/index.php?topic=3407522 Medium: https://medium.com/@satt.atayen Github: https://github.com/Atayen/satt-js Media Contact Cecilia Wong, yourPRstrategist.com [email protected] +65-91826605 || Former Nexus Mutual CTO Launches PlotX - a Uniswap for Prediction Markets: SINGAPORE, SINGAPORE / ACCESSWIRE / August 23, 2020 / PlotX, a non-custodial prediction market protocol has been launched on the Ethereum Kovan Testnet. Ideated by former Nexus Mutual and GovBlocks developers, PlotX is challenging the existing prediction market projects with it's novel automated and decentralised market making algorithm that allows for on-chain market creation, option pricing, settlement and reward distribution - without the need for any counterparty. On August 4, the first application built on PlotX protocol was launched, allowing users to predict on the markets like "What will be the price of BTC/USDT in the next 1 hour". Apart from the 1 hour markets, 1 day and 1 week markets were also launched. The users with correct predictions earn peer-to-peer rewards. In less than two weeks, over 131 users have placed market predictions using the PlotX dApp, with a strong community forming ahead of September's mainnet launch. Designed for attracting high liquidity on event predictions, PlotX has been described as a Uniswap equivalent for prediction markets that taps into the network effects derived from innovations such as automated market making and liquidity mining. The product of intensive open source development, PlotX was originally conceived by Ish Goel, former CTO at Nexus Mutual, Nitika Goel, former Nexus Mutual lead developer, Kartic Rakhra former co-founder at GovBlocks & Satheesh Ananthasubramanian, ex-Cognizant & BORN. Inspired by the success of Nexus Mutual and GovBlocks, PlotX aims to follow a decentralized and pragmatic approach to governance with the community being involved in all governance decisions such as dispute resolution, addition of new types of markets, vertical expansion etc. Community members will be able to raise proposals and vote, with decisions being implemented automatically via smart contracts, all on the Ethereum blockchain. About PlotX PlotX (dubbed as the Uniswap of Prediction Markets) is a non-custodial protocol written using the Solidity language that can allow predictions for any price feed, with the ability to create markets, settle markets through third-party oracles and distribute rewards peer-to-peer on the Ethereum Blockchain. Markets once initiated are automatically created in intervals of 1h, 1d and 1w. Story continues The PlotX smart contracts eradicate the counterparty risk in market creation & settlements. It also aims to solve the liquidity problem that has marred the growth of prediction market protocols in the past. Built on the foundation of strong on-chain governance and risk spread mechanism, PlotX provides an opportunity for users to use their skills in predicting the future value of any asset and develop the protocol to suit their prediction market ideas. Founded by former Nexus Mutual & GovBlocks developers, PlotX has the potential to disrupt the prediction market space in the DeFI ecosystem, winning on its simplicity and fun factor. For more information see https://www.plotx.io/ Media Contact: Dan Edelstein [email protected] +972-545-464-238 SOURCE : PlotX View source version on accesswire.com: https://www.accesswire.com/602890/Former-Nexus-Mutual-CTO-Launches-PlotX--a-Uniswap-for-Prediction-Markets || Marathon Patent Group Announces $23 Million Contract with Bitmain to Purchase 10,500 S-19 Pro Miners: Upon Delivery and Full Installation, the Company’s Mining Operations Will Include 13,520 Next Generation Miners and Produce 1.55 Exahash (1,555 PH/s) Representing 1.2% of the Current Worldwide Bitcoin Hashrate
LAS VEGAS, Aug. 14, 2020 (GLOBE NEWSWIRE) -- Marathon Patent Group, Inc. (NASDAQ:MARA) ("Marathon" or "Company"), a Nasdaq-listed cryptocurrency mining company, today announced that it has entered into a Long Term Purchase Contract with Bitmain for the purchase of 10,500 next generation Antminer S-19 Pro ASIC Miners.
Marathon’s Chief Executive Officer, Merrick Okamoto, stated, “The execution of this contract with Bitmain represents a milestone event for our company. This investment is expected to result in Marathon being one of, if not the largest, Bitcoin miner in North America.”
Okamoto continued, “Today’s news comes on the heels of recent incremental business growth through the purchase of what now is expected to total 13,520 next generation miners generating 1.55 Exahash upon full installation. I would like to take this opportunity to thank Bitmain for working with us on this Long Term Purchase Contract, which locks in the purchase price, a substantial discount from the current retail price, and greatly reduces the risk of price increases to the Company and potential shortage of Miner availability in the future.”
"We are pleased to have provided Marathon with Bitmain’s latest generation of Antminer S19 Pro mining hardware. Equipped with the most advanced chipset currently available, the high-performance and low power consumption of the miners will significantly improve operations of Marathon's mining business. This collaboration continues to strengthen our cooperation and will extend to future work together as Marathon expands its presence in the mining industry,” said Irene Gao, Antminer Sales Director of NCSA Region, Bitmain.
Additionally, 1,360 Miners were delivered to our Hosting Facility today, and the Company anticipates that all of these Miners will be deployed this weekend and added to our current 700 Miners presently in operation, bringing our currently installed Miners to 2,060 which will produce 184.6 PH/s. Bitmain will also deliver 500 previously purchased S-19 Pro Miners in September and 500 in November. After the installations this weekend go operational next week, the Company’s yields are expected to generate prospective positive net cash flow, based on the current price of Bitcoin and Hashrate difficulty.
Investor Notice
Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under "Risk Factors" in Item 1A of our most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2019. If any of these risks were to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline, and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. See "Safe Harbor" below.
Forward-Looking Statements
Statements made in this press release include 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. Forward-looking statements can be identified by the use of words such as “may,” “will,” “plan,” “should,” “expect,” “anticipate,” “estimate,” “continue,” or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading “Risk Factors” in the Company's Annual Reports on Form 10-K, as may be supplemented or amended by the Company's Quarterly Reports on Form 10-Q. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.
Name: Jason AssadPhone: 678-570-6791Email:[email protected] || 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. || Bitcoin, Ethereum & Ripple - American Wrap 9/20: Bitcoin Price Prediction: BTC/USD commences consolidation above $10,700 – Confluence Detector
Bitcoin price appears to be settling around $11,700 after a minor recovery from Thursday’s slump to levels around $11,500. The reversal back to $12,000 is proving to be an uphill task probably because most analysts predict doom before dawn for the largest crypto by market capitalization.
Ethereum Technical Analysis: ETH/USD price could set a new 2020-high above $450
Buyers managed to push Ethereum’s price above $400 again and the daily 12-EMA, currently at 410. The last low of the daily uptrend is still at $365, which means that anything above this level is considered a higher low. For now, the risk of Ethereum shifting into a downtrend is minimal.
Ripple Technical Analysis: XRP/USD weaker than the rest as its price continues to trade belowRipple Technical Analysis: XRP/USD weaker than the rest as its price continues to trade below $0.30.30
Ripple price has been relatively flat compared to the rest of the coins in the past two weeks. The digital asset has created a double top which is considered a bearish reversal pattern but sellers don’t seem to have enough strength to continue pushing XRP price down.
See more from Benzinga
• Bitcoin, Ethereum & Chainlink - American Wrap 8/13
• Bitcoin, Ethereum & Ripple - American Wrap 8/6
• Bitcoin, Ethereum & Ripple - American Wrap For July 9
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Is Asteroid Mining Really Our Best Argument for Bitcoin Over Gold?: After a Winklevoss encounter highlights Elon Musk’s space mining dreams, maybe we should remind ourselves of the right-here-at-home benefits bitcoin brings. 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 Crypto.com , Bitstamp and Nexo.io . Related: What’s Actually Happening With Inflation Right Now Earlier this week, the Winklevoss brothers introduced Barstool Sports founder Dave Portnoy to bitcoin . See also: Preston Pysh on Why We’ve Entered a Fundamentally New Era of Bitcoin Accumulation One of the notable parts of the recap video was a discussion of how Elon Musk was set to destroy the value of gold on Earth by mining gold from asteroids. While much meme fun was had, on this week’s Long Reads Sunday NLW has chosen a selection that looks at how fiat beat out gold and how gold beat out silver to provide some – ahem – more immediately relevant lessons on how to explain the benefits of bitcoin. Related: Bitcoin Surges Past $12,000 to New 2020 High Read: Projection and Throwness Part III — Bitcoin’s 10x Advantage Over Gold Might Not Lie Where You Think By David Lawant 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 Is Asteroid Mining Really Our Best Argument for Bitcoin Over Gold? Is Asteroid Mining Really Our Best Argument for Bitcoin Over Gold?
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 10784.49, 10619.45, 10575.97, 10549.33, 10669.58, 10793.34, 10604.41, 10668.97, 10915.69, 11064.46
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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 2019-07-25]
BTC Price: 9911.84, BTC RSI: 44.75
Gold Price: 1413.90, Gold RSI: 59.11
Oil Price: 56.02, Oil RSI: 44.81
[Random Sample of News (last 60 days)]
‘Everyone Can Be Satoshi’: Wei Liu Breaks Silence on Bid to Contest Craig Wright’s Bitcoin Copyright: No, the latest person to claim authorship of the bitcoin code created under the pseudonym Satoshi Nakamoto isn’t its original creator, rather he’s just out to satirize that such a thing could even be attempted at all. Wei Liu, CEO of crypto fund MarvelousPeach Capital , registered a copyright for “Bitcoin: A Peer-to-Peer Electronic Cash System” last week, it was revealed today , making him the second individual to copyright the famous document. We tracked him down in Beijing to get clarity on his attempt to wrest to control or, most likely, comment on Craig S. Wright’s white paper registration. Liu is a crypto entrepreneur from China and said his goal in registering the document was to point out that copyright is technically meaningless in this context. Who Is Wei Liu? Second Copyright Filing Appears for Bitcoin White Paper He also wanted to poke fun at what he calls “CSW cultists.” He told CoinDesk: “I filed it just to let people know anyone can register a copyright. Everyone can be Satoshi Nakamoto.” “Now we can both show our credentials and see who ends up wearing an orange suit!” Craig Wright told Decrypt in response to our initial story. US Copyright Office Says It Does Not ‘Recognize’ Craig Wright as Satoshi Liu was the former COO of F2Pool and started bitcoin mining in 2011. He also worked on Cobo Wallet . Liu’s filing is dated May 24, a few days after Wright registered his copyright . Liu posted on Weibo that he was “making fun of CSW’s ‘cult group,’ who previously said only CSW can register a copyright, no one else.” Clearly, as we see, someone else can. Wolfie Zhao contributed reporting. Image via AMC Related Stories Craig Wright Is Playing Three-Dimensional Checkers Craig Wright Attempts to Copyright the Satoshi White Paper and Bitcoin Code || Thirsty for Returns? Gulp Up Some of the Water ETF: This article was originally published on ETFTrends.com. Its being called one of the best ETFs to own in 2019. Investing in none other than water and using a ticker symbol with same name as a Vietnamese soup, the PHO ETF is up 26.55% this year. The Invesco Powershares Water Resources ETF (PHO) is based on the NASDAQ OMX US Water Index. It invests at least 90% of its assets in stocks and American depositary receipts and global depositary receipts of companies in the water industry that make up the underlying index, according to the funds fact sheet . The funds top holdings include Roper (8.30%), Ecolab (8.23%), Danaher (8.17%), Waters (8.16%), and American Water Works (8.06%). Its primarily two of these holdings that have turbocharged PHO this year Danaher and Roper. "Danaher is up nearly 40% this year, effectively buoyed before and after what was a solid first quarter print, and bolstered by the impending acquisition of the General Electric ( GE ) biopharma unit, according to Investorplace . "Roper isnt far behind Danaher, fueled by an equally impressive quarterly report. But theres more to PHOs performance than just two of its holdings. Investorplace sums it up like this, "Americas entire water-management system is a mess. A couple of stats to back up the argument. The nations wasteful water infrastructure loses 6 billion gallons of water every day. Household water leaks can collectively waste an estimated trillion gallons of water per year. $1 trillion will be needed over the next couple of decades to shore up the countrys water woes. PHOs underlying index is set up to track companies that are positioned to help address the water debacle. According to the funds fact sheet, "The Underlying Index seeks to track the performance of US exchange-listed companies that create products designed to conserve and purify water for homes, businesses and industries. With a total expense ratio of 0.62%, the fund is not your average ETF and may require a long term mindset. Story continues As for this year, investors who picked PHO can drink to that. For more thematic investing strategies, visit our Thematic 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 Fed Concerns Stoke Market Jitters As Traders Await Comments From Powell Consumers Are Still Thirsty For Pepsico Markets Rally On Anticipated Rate Cuts And Holiday Facebook Libra: Weighing The Pros And Cons As Bitcoin Surges Past $13K, Calls to Embrace Crypto Grow READ MORE AT ETFTRENDS.COM > || Bitcoin futures volume was about a third of the spot volume in May: Bitcoin futures volumes have surged to record highs of $12 billion in May, a growth of 118% from April.JPMorgan estimatedthat after discounting the faked volume, the real spot Bitcoin volume on cryptocurrency exchanges was around $36 billion in May, meaning that the futures share of spot volumes was about 33%.
JPMorgan said that because of fake volume, the importance of Bitcoin futures has been understated, which "suggests that market structure has likely changed considerably since the previous spike in Bitcoin prices in end-2017 with a greater influence from institutional investors." || eToro Adds First Ethereum Tokens to Its Wallet – 120 of Them: The eToro cryptocurrency wallet is adding support for 120 ERC-20 standard tokens.
First to be included in the wallet from Tuesday are Maker (MKR), Basic Attention Token (BAT), OmiseGO (OMG), with the others to follow in the “near future,” according to a press release emailed to CoinDesk. ERC-20 is a technical standard that sets rules for tokens launched on ethereum or related blockchains.
Doron Rosenblum, managing director of eToroX, said:
Related:tZero’s New Wallet Lets Users Trade Bitcoin and Ethereum
Within the US, the wallet is managed by eToro US LLC. eToroX alsolauncheda cryptocurrency exchange and eight eToro-branded stablecoins back in April.
eToro CEO and co-founder, Yoni Assia, said at the time:
“Just as eToro has opened up traditional markets for investors, we want to do the same in the tokenized world. […] Blockchain will eventually ‘eat’ traditional financial services through tokenization.”
Related:Opera’s Browser With Built-In Crypto Wallet Launches for iPhones
Parent firm eToro itselflauncheda cryptocurrency buying and selling platform and wallet service in the U.S. in February, having first dived into the crypto space with the launch of bitcoin trading on its platform back in 2014.
eToro image via Shutterstock
• Breez Reveals Lightning-Powered Bitcoin Payments App for iPhone
• BRD Partners With Wyre to Build Bank Transfer Wallet Feature || Navigating 2019’s Twists and Turns: This article was originally published on ETFTrends.com. By RiverFront Investment Group A LESSON FROM FORMULA ONE RACING As a Formula 1 racing fan, I find myself comparing the 2019 action in the equity markets to that of a Grand Prix race with all the thrills and tension that come along with it. The drivers must have endurance, possess the ability to navigate hairpin turns as well as the straightaways and maintain constant contact with the crew to reaffirm conditions and strategy. Sound familiar? As important as all the internal team dynamics are, invariably there are external variables – the course, the weather, and the actions of other racers - over which the team has no control. THE START: It would have been difficult to have called the start of 2019. The dramatic downside reaction that ended 2018, sparked by fears of tighter interest rates, was quickly shrugged off as the Federal Reserve reversed course and indicated that it would proceed cautiously in determining further rate hikes. That coupled with what was perceived as positive news on the trade front resulted in a first quarter rebound in US equities that was at the high end of our optimistic forecast for the entire year in our 2019 Outlook . THE CHICANE: A chicane is a sequence of tight corners (think zig-zag) in alternate directions built into the racing circuit to slow the cars. The “chicane,” for purposes of this reference, comes in the form of the reality of where we are in the earnings cycle. Earnings for the S&P 500 came in considerably better than the 4% decline that was originally forecast for the first quarter, however, according to FactSet they were still slightly negative. It is estimated that the decline was -0.4%. Earnings for the second quarter are now forecast to decline by more than 2%, which would likely reignite the worries about the impact of an earnings recession. S&P 500 earnings revision ‘momentum’ – a moving average of the total number of earnings-per-share (EPS) estimates revised up by analysts over the past 100 days, minus the number revised down, divided by total number of estimates - has recovered from its dramatic drop earlier this year, but is still hovering around zero, suggesting to us a lack of a decisive positive view by analysts heading into earnings season ( see chart, next page ). Story continues Earnings growth leads to valuation multiple expansion, so the change in the rate of change for that growth is impactful to the valuation levels of the market. At this juncture, investors must look ahead to the back half of 2019 and into early 2020 to see earnings growth reaccelerate. On a forward multiple, the S&P 500 is at approximately a 16.7x multiple on 2019 earnings which is above the 10-year average of 14.8x. An article from Bloomberg earlier this week noted the growing number of Wall Street analysts who have cut their earnings estimates for the S&P, yet none have cut their target price for the index. As we head into earnings reporting season in a few weeks, the actual data as well as the guidance will be an important component in determining whether we see valuation multiple expansion or contraction from current levels. THE YELLOW FLAG: A yellow flag signifies that there is hazard ahead. Given market valuations, we believe the “yellow flags” that we have seen in terms of macroeconomic and geopolitical hazards should have created more volatility, particularly to the downside, than what we have experienced. The sharp selloff in May that was the result of news that the US would proceed with tariff increases on imports from China seems to have become a dim memory in anticipation of progress as investors look ahead to the upcoming G20 meeting. SP500 Chart Past performance is no guarantee of future results. Shown for illustrative purposes only. You cannot invest directly in an index. Ironically, there has been no concrete evidence of any substantive agreement between the two countries, so hope seems to be the prevailing strategy. Meanwhile, estimates for the potential impact that higher tariffs could have to US GDP have started to tick higher. Headlines are appearing daily regarding the negative impact to businesses and consumers as the imposition of these tariffs loom. In early June, consumer sentiment did tick slightly lower in the most recent Michigan Consumer Sentiment Survey due to tariff concerns; however, it remains at record levels. There are some signs of slowing in the US economy such US manufacturing data, and a recent survey of US CEOs revealed that sales expectations, plans for capital investment and hiring have all dropped. THE STRAIGHTAWAY: As we wind down the second quarter it feels like we are on a straightaway. US equity markets have reached record highs, central banks around the world have tilted more dovish, and investors seemed to have reconciled that slower growth is a reality. At RiverFront, we have adjusted portfolios based on our underlying fundamental underpinnings of asset allocation, tactical adjustments, security selection and risk management to account for these variables . Currently, our shorter-horizon strategies are considered neutral risk relative to our benchmarks, with a tilt towards US equities. This reflects both our optimistic views around US central bank policy and long-term preference for stocks over bonds, balanced with the uncertainty surrounding tactical factors like trade headlines. The longer-horizon strategies, where investors inherently may possess a higher tolerance for short-term uncertainty, remain positioned in a “risk on” fashion and also reflect a preference for US equities. This article was written by the team at RiverFront Investment Group , a participant in the ETF Strategist Channel . Important Disclosure Information The comments above refer generally to financial markets and not RiverFront portfolios or any related performance. Past results are no guarantee of future results and no representation is made that a client will or is likely to achieve positive returns, avoid losses, or experience returns similar to those shown or experienced in the past. Information or data shown or used in this material is for illustrative purposes only and was received from sources believed to be reliable, but accuracy is not guaranteed. In a rising interest rate environment, the value of fixed-income securities generally declines. It is not possible to invest directly in an index. When referring to being “overweight” or “underweight” relative to a market or asset class, RiverFront is referring to our current portfolios’ weightings compared with the portfolios’ composite benchmarks. For more information on our composite benchmarks, please visit our website: www.riverfrontig.com. Technical analysis is based on the study of historical price movements and past trend patterns. There are no assurances that movements or trends can or will be duplicated in the future. Investing in foreign companies poses additional risks since political and economic events unique to a country or region may affect those markets and their issuers. In addition to such general international risks, the portfolio may also be exposed to currency fluctuation risks and emerging markets risks as described further below. Changes in the value of foreign currencies compared to the U.S. dollar may affect (positively or negatively) the value of the portfolio’s investments. Such currency movements may occur separately from, and/or in response to, events that do not otherwise affect the value of the security in the issuer’s home country. Also, the value of the portfolio may be influenced by currency exchange control regulations. The currencies of emerging market countries may experience significant declines against the U.S. dollar, and devaluation may occur subsequent to investments in these currencies by the portfolio. Foreign investments, especially investments in emerging markets, can be riskier and more volatile than investments in the U.S. and are considered speculative and subject to heightened risks in addition to the general risks of investing in non-U.S. securities. Also, inflation and rapid fluctuations in inflation rates have had, and may continue to have, negative effects on the economies and securities markets of certain emerging market countries. Stocks represent partial ownership of a corporation. If the corporation does well, its value increases, and investors share in the appreciation. However, if it goes bankrupt, or performs poorly, investors can lose their entire initial investment (i.e., the stock price can go to zero). Bonds represent a loan made by an investor to a corporation or government. As such, the investor gets a guaranteed interest rate for a specific period of time and expects to get their original investment back at the end of that time period, along with the interest earned. Investment risk is repayment of the principal (amount invested). In the event of a bankruptcy or other corporate disruption, bonds are senior to stocks. Investors should be aware of these differences prior to investing. Standard & Poor’s (S&P) 500 Index measures the performance of 500 large cap stocks, which together represent about 80% of the total US equities market. RiverFront Investment Group, LLC, is an investment adviser registered with the Securities Exchange Commission under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply any level of skill or expertise. The company manages a variety of portfolios utilizing stocks, bonds, and exchange-traded funds (ETFs). RiverFront also serves as sub-advisor to a series of mutual funds and ETFs. Opinions expressed are current as of the date shown and are subject to change. They are not intended as investment recommendations. RiverFront is owned primarily by its employees through RiverFront Investment Holding Group, LLC, the holding company for RiverFront. Baird Financial Corporation (BFC) is a minority owner of RiverFront Investment Holding Group, LLC and therefore an indirect owner of RiverFront. BFC is the parent company of Robert W. Baird & Co. Incorporated (“Baird”), a registered broker/dealer and investment adviser. Copyright ©2019 RiverFront Investment Group. All Rights Reserved. 882653 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 Facebook Libra: Weighing The Pros And Cons As Bitcoin Surges Past $13K, Calls to Embrace Crypto Grow GLDM Marks One Year Anniversary Today, Leads Gold-Backed ETF Flows ROBO Global Healthcare Technology ETF Debuts on NYSE Gold And Silver Rally On Unusual Options Activity READ MORE AT ETFTRENDS.COM > || EUR/USD Weekly Price Forecast – Euro shows strength during the week: The Euro ralliedsignificantly during the week, reaching towards the 1.1350 level where I suspect there is going to be a significant amount of resistance. If we can break above there, it’s very likely then that we could go to the 1.1450 level above there. At this point, it’s very likely that we will get a short-term pullback but it appears that the Euro is trying to break out to the upside and change the overall trend. It makes a lot of sense considering that the 61.8% Fibonacci retracement level is in the same area as well. Simply put, this is a market that’s ready to bounce due to the Federal Reserve.
If the Federal Reserve is in fact going to go ahead and cut interest rates a couple of times later this year, the question then becomes whether or not the ECB can do anything to counterbalance this. I highly doubt it, considering that they have negative interest rates going on already. This being the case, I am bullish of this market but I recognize we may need to build up a little bit more inertia before we take off to the upside. If we can break above the 1.15 level, at that point I suspect it’s very likely that the overall trend will be obvious to everyone else, and then we start to see this market go much higher. At that point I would anticipate a move towards the 1.20 level above, but obviously that’s a very long term target.
Please let us know what you think in the comments below
Thisarticlewas originally posted on FX Empire
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• USD/CAD Daily Forecast – Bear Flag Indicating Downtrend Continuation || Chinese Citizen Wei Liu Also Claims US Copyright for Bitcoin White Paper: OfficialUnited Statescopyrightarchive datashowsthat Wei Liu, aChinesecitizen residing inCalifornia, claimed copyright to bitcoin’s (BTC)white paperon May 24.
In the filing, Liu claims to have published the bitcoin white paper on Jan. 11, 2008, under the pseudonym ofSatoshi Nakamoto, with the title “Bitcoin: A Peer-to-Peer Electronic Cash System.” Earlier this month,self-proclaimedSatoshiCraig WrightalsofiledUnited States copyright registrations for the same paper and most of theoriginal codeused to build bitcoin.
Cointelegraph has not been able to determine who Wei Liu is or the reasoning behind the filing the copyright claim by press time.
Anews releasefrom May 21 had claimed that U.S. officials received confirmation that Wright is actually Satoshi Nakamoto, but the news has been met with skepticism from some crypto commentators.
Earlier this month, Cointelegraphreportedthat the legal validity of Wright’s copyright filings are an object of dispute. Entrepreneur and bitcoin core developerJimmy Songtold Cointelegraph that instead of proving that he is Satoshi, the filing shows “that CSW is a publicity-seeking con-man, but we already knew that.”
The U.S. Copyright Office hadrespondedon May 22 to the clamor over Wright's new claim by releasing apress statementnoting that “as a general rule, when the Copyright Office receives an application for registration, the claimant certifies as to the truth of the statements made in the submitted materials.” The author of the release concluded:
“The Copyright Office does not investigate the truth of any statement made.”
• Copyright Registrations Do Not Recognize Craig Wright as Satoshi Nakamoto
• Self-Proclaimed Satoshi Craig Wright Files US Copyright Registrations for BTC White Paper
• Fake News Circulating in China Suggested to Be Responsible for Bitcoin SV Price Surge
• Hodler’s Digest, May 20–26: Top Stories, Price Movements, Quotes and FUD of the Week || QuadrigaCX CEO Set Up Fake Crypto Exchange Accounts With Customer Funds: QuadrigaCX’s late founder and CEO used customers’ funds to trade for his own account on other cryptocurrency exchanges, the Canadian firm’s bankruptcy trustee said. In a bombshell 70-page report released Wednesday, Ernst & Young claimed that Gerald Cotten, who apparently died last December, transferred millions of dollars in crypto out of customer accounts and into other exchanges, with the funds being used to furnish Cotten’s personal lifestyle and trading habits. Overall, it appears that Cotten effectively stole more than $200 million USD from his customers. “Significant volumes of Cryptocurrency were transferred off Platform outside Quadriga to competitor exchanges into personal accounts controlled by Mr. Cotten,” the report said. “It appears that User Cryptocurrency was traded on these exchanges and in some circumstances used as security for a margin trading account established by Mr. Cotten.” Related: Binance to Launch Bitcoin-Pegged Token on Its Own Blockchain Fees and trading losses “appear to have adversely affected Quadriga’s cryptocurrency reserves,” while other sums were sent to wallets whose owners EY could not confirm. Between 2016 and the end of 2018, Cotten transferred 9,450 bitcoin, 387,738 ethereum and 239,020 litecoin out of his exchange’s accounts (respectively, $88 million, $105 million and $33 million USD at present market prices, though their values have fluctuated – and increased dramatically – over that time). Cotten also appears to have created fake accounts on Quadriga, credited them with fiat amounts that did not actually exist, and use this fake fiat to purchase actual crypto from customers, with the largest account using the name Chris Markay . More losses Later, the report says that Cotten margin traded zcash, dash, dogecoin and omisego, where he “generated substantial losses.” Related: Korean Crypto Exchanges Update Terms to Accept Liability for Hacks An unidentified third exchange received 21,501 bitcoin ($201 million in today’s prices) into an account under Cotten’s name. All but 8 bitcoin were liquidated, netting some $80 million CAD ($60.4 million USD). Story continues While this exchange is not cooperating with EY, it is cooperating with local authorities in its jurisdiction. EY is now looking to open “formal channels” with these authorities. Evan Thomas, a litigator with Osler Hoskin & Harcourt in Canada, told CoinDesk that “based on the report, what [Cotten] did was clearly fraudulent and betrayed the trust of Quadriga users.” Cotten’s actions could not have been an accident, Thomas indicated, saying: “It’s possible that he got in over his head and was trying to trade his way out out of a deficit using other people’s money, but given that the fake accounts have existed since at least 2016 and he misappropriated funds for luxury travel and real estate investments, it seems more likely that this was a calculated and deliberate fraud.” QuadrigaCX filed for protection from creditors in January, owing customers $190 million worth of crypto and fiat, most of which it could not access because only its late CEO Gerald Cotten knew where the private keys were. EY’s hunt for the missing funds, first as court-appointed monitor and then as trustee when QuadrigaCX formally entered bankruptcy in April, has largely been fruitless. As of May, the estate had just $21 million of assets to cover $160 million in remaining liabilities, though the most recent report brings the sum closer to $24.5 million. The U.S. FBI is looking into the losses, as are Canadian authorities . Other issues EY’s report also detailed rampant mismanagement and poor practices, noting that Quadriga did not keep administrative logs and had no contingency plan for the loss of funds or its leader. What’s more, the exchange seemingly engaged in poor accounting practices. For example, the exchange paid two of its nine payment processors $11.8 million CAD (roughly $9 million USD) in fees alone. Quadriga did not maintain any documentation, however. “The Monitor has been unable to locate any accounting with respect to the pooled Quadriga Funds,” the report said. “The Monitor notes the TPP accounts were used to process User Fiat transactions, fund general Quadriga operating costs and on multiple occasions funds were directed to Mr. Cotten, parties related to Mr. Cotten or counsel/parties acting on his behalf.” It went on to add: “It appears that as and when operating expenses were required to be paid, or when Mr. Cotten desired funds to be transferred to himself or related parties, he simply instructed TPPs to issue payments with no oversight.” EY also believes that properties in Nova Scotia, properties in British Columbia, investment securities, cash holdings, a boat, an aircraft, luxury vehicles and gold and silver coins that purportedly belonged to Cotten, and now belong to his widow Jennifer Robertson were paid for using Quadriga’s customers’ funds, and therefore should be liquidated. “As Mr. Cotten’s and Ms. Robertson’s personal expenditures and the accumulation of their personal assets since 2015 was sourced from Quadriga funds, the Trustee intends to seek the recovery of the Preserved Assets subject to the Asset Preservation Order back to the Estate for immediate liquidation on the basis that the funds which Mr. Cotten directed be paid to them constitute preferences or transactions at under value under the BIA and may be subject to other causes of action asserted by the Trustee,” EY wrote. The proceeds from these sales, if successful, will go to the creditors’ estate, and could total as much as $12 million CAD ($9 million USD). Customer claims In a separate filing , EY outlined the process that former QuadrigaCX users who lost money when the exchange went belly-up should follow to file claims. “Users will be requested to complete and deliver their Proofs of Claim to the Trustee prior to 5:00 p.m. (Halifax time) on August 31, 2019 (the ‘Claims Submission Date’),” EY said. EY acknowledged in the filing that creditors have encountered difficulty finding the information they need to prepare claims because Quadriga’s website has been down since January . A committee and lawyers representing users “have expressed concern with the platform site being offline as Users cannot access statement details or information necessary to complete their claims,” EY said. In response, EY says it worked with the creditors’ lawyer to help users find ways to retrieve account balance information. That process involves an online portal where users are asked to type in their QuadrigaCX account number and first name. “If a match is found, your balances will be displayed,” the EY-built web page says, warning: “Be sure to print or screen capture the results.” EY added that it is “mindful of User privacy concerns which [were] also taken into account in preparing the claims process.” Special form The auditing firm has also modified the standard form for bankruptcy claims “in order to fit Quadriga’s unique circumstances of having claims against it denominated in Cryptocurrency and Fiat,” EY said. The form, which misspells the word “ethereum” and is interrupted by a page break in the filing, looks like this: Thomas told CoinDesk that based on the new reports, there may not be much for customers to recover. “Right now, it looks like the primary source of recovery for creditors will be the fiat and the frozen assets,” he said, concluding: “The report doesn’t address potential damages claims against other parties but that may be something the trustee will consider.” Nova Scotia Supreme Court image via Nikhilesh De for CoinDesk Related Stories Bitfinex Is Starting to Buy Back and ‘Burn’ Its LEO Exchange Token Binance Says It’s Launching a US Exchange With FinCEN-Registered Partner || Bitcoin ATMs Installed at 20 Circle K Convenience Stores in Western US: ByCCN Markets: For once, we’re not talking about California or New York when we discuss a significant expansion of retail crypto availability. Instead, we’re talking about Arizona and Nevada, where a block of 20 Circle K convenience storesnow host bitcoin ATMs from DigitalMint.
The ATMs currently only serve BTC, with a more than 10% mark-up for purchases. Withbitcoincurrently averaging around $9,800, DigitalMint currently asks $10,987.
Dubbed a “pilot program,” Circle K’s more than 15,000 other locations could be next. Important to note: the corporation owns some Circle K locations, andfranchise operators own some.The latter could be a stumbling stone in a full roll out across the chain.
DigitalMint and Circle K announced the installation of 20 new bitcoin ATMs at Circle K locations across Nevada and Arizona. Most went to Arizona, as you can see. Source: DigitalMint
According to a press release, the ATMs are mainly one-directional. Some further research on DigitalMint’s website found that some of the machines will accept credit or debit cards.
Read the full story on CCN.com. || Coinbase review: Four things you should know: Coinbase has become one of the largest exchanges in the world. Based in the US and operating since 2011, the exchange is often the first place many people go to buy their first ever Bitcoin. Coinbase provides many benefits such as simplicity of use, but it has also received criticism from Bitcoiners as well as many of its customers. Let’s take a look at four things you should know about Coinbase. Ease of use One of the key benefits of using Coinbase is that it has a simple user interface that is ideal for people who have very little knowledge of the cryptocurrency scene. You can buy and store four of the major cryptocurrencies: Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. The signup process follows traditional financial technologies and includes a fairly stringent know your customer (KYC) process . While many traditional Bitcoiners feel uncomfortable handing over their personal details, it is the price of having a regulated exchange. Coinbase is based in the US and is fully regulated. This provides a sense of security for its users. The exchange also holds 2% of cryptocurrency storage online with the rest stored in offline wallets for additional safety. It is insured for any losses to the cryptocurrencies stored online. Worldwide reach Coinbase is available in 107 countries throughout the world. However, there are limitations depending on the regulations of the specific country. Payment methods can also vary depending on your location. For those based in the UK, you can top up your Coinbase account with Sterling via debit or credit card, UK bank transfer, or SEPA. The ability to buy cryptocurrency with a variety of payment methods is one of the most attractive aspects of using Coinbase. Many other exchanges, especially those that provide the possibility of converting Bitcoin into altcoins, do not provide such a service. Therefore, if a user would like to trade in altcoins, they often buy Bitcoin from Coinbase first and transfer it over to the necessary exchange. Story continues Customer support One of the major issues that customers have complained about when using Coinbase is its customer support. On the review site Trustpilot, Coinbase has a 1-star rating. There is a general trend from the reviews left on the site. The first major issue is that the customer support is slow to respond to queries. This is especially problematic when Coinbase can be holding large amounts of a customer’s cryptocurrency, causing distress to the customer. Another issue highlighted by customers of Coinbase is the scripted nature of its customer support. Users have accused Coinbase of making its customer support robotic, making people think the exchange doesn’t care about their issues. The third issue that often appears on reviews for Coinbase is criticism of its referral program. By introducing friends to the service, you can be rewarded with better fees or coins. Yet many people have claimed on Trustpilot that they didn’t receive their rewards for doing so. It should be noted though that as with all reviews, the trend shows that unhappy customers are always more likely to leave a review than happy customers. Fees Another one of the major criticisms of Coinbase is that it charges high fees for its service. There are numerous exchanges that provide a similar service to Coinbase but with cheaper fees. However, thanks to its reputation as one of the largest and easiest exchanges to use, it appears that customers are non-plussed regarding the expensive fees on Coinbase. Despite the high fees, the fact that Coinbase is insured for online losses and has never been hacked (as of the time of writing) means that the high fees might be worth it for many. To be as secure as possible though, you should always keep your Bitcoin in a hardware wallet rather than trusting a third party online. Conclusion Despite some criticism, Coinbase still remains the main site for new investors to buy Bitcoin. Thanks to its first-mover advantage in the market, the variety of payments possible, and its ease of use, the exchange has marketed itself as the go-to exchange in the space. However, there certainly seems to be room for improvement on the customer support side of the operation judging by the reviews on Trustpilot. But for many who have experience in cryptocurrencies, they will have likely moved on to other exchanges that provide more altcoins and offer much lower fees. The post Coinbase review: Four things you should know appeared first on Coin Rivet .
[Random Sample of Social Media Buzz (last 60 days)]
$EPAZ's Bitcoin Sharing & Blockchain Social Media App Webbeeo Is In Alpha Testing Phase https://www.owltmarket || 17k Free #Crypto! Javvy Trading Contest! #murthaburke @murthaburke @javvycrypto @thecollectivego #btc #eth #ico #ieo https://t.co/h1Sw6TmLiW || 【速報】仮想通貨ビットコイン、1万2000ドル突破4日間で20％超のプラス-CointelegraphJapanhttps://jp.cointelegraph.com/news/bitcoin-is-now-over-12-000-dollar?utm_source=dlvr.it&utm_medium=twitter https://t.co/jlTrDItK4a || @CryptosR_Us Bitcoin still does not work for money! || #BTC #SHIFT Bitcoin prices firm above $8,500 Technical analysts are overly bullish after Guppy indicator turned green After three years, the Guppy technical indicator ...Read more: https://t.co/TAKZIh85uz || The idea of this project is so innovative! I've never seen something like this back in my days. #Shato || La ‘revolución’ del || BTCもATOMも助かった
結果オールライト😋 || @AntoineCorbel @wtogami He talked plenty about solving trust, it wasn't either or. Also, he had no idea how long bitcoin would take to become a mature network. || @ExchangeDog Most experts say that BTC is alive again . This is premium channel with signals . And it is free for 5 days !
Look --> https://t.co/6Zz35kqPqZ
⭕ 1440144941
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Trend: up || Prices: 9870.30, 9477.68, 9552.86, 9519.15, 9607.42, 10085.63, 10399.67, 10518.17, 10821.73, 10970.18
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2021-01-29]
BTC Price: 34316.39, BTC RSI: 53.86
Gold Price: 1847.30, Gold RSI: 46.23
Oil Price: 52.20, Oil RSI: 59.13
[Random Sample of News (last 60 days)]
Bitcoin breaks $40,000 as 2020 surge continues into new year: Bitcoin (BTC) started 2020 at $7,200. It ended the year at nearly $30,000, up 296%. (For comparison, the Nasdaq rose 43% in 2020, the S&P 500 rose 16%, the Dow rose 7%.)
Read more:Bitcoin: 74 questions answered
The surge continued full-steam into 2021. It took bitcoin 10 years in existence toreach $20,000onmost exchanges, on Dec. 15. Then it took just 17 days to reach $30,000. (It took the Dow Jones almost three years to make the same move.) Bitcoin broke through $30,000 for the first time on Jan. 2, then climbed to $32,000 just hours later. On Jan. 5, it broke $35,000, and on Jan. 7, it hit $40,000.
The tide has also lifted “altcoins,” bringing theoverall crypto market cap above $1 trillion for the first time.
The 2020 bitcoin bonanza can be chalked up to a convergence of many positive factors, as well as a convergence of narratives.
In the past, a common criticism of bitcoin from skeptics was that it isn’t useful as a real currency—you can’t spend it in most places. In 2020, investors decided they don’t care about that, and don’t want to spend their bitcoin anyway. Institutional firms flooded in, viewing cryptocurrencies as a legitimate asset to hold in their portfolio.
At the very least, the consensus now appears to be: Bitcoin isn’t going away. It has existed for 10 years and will continue to exist.
The same cannot be said with absolute certainty about any of the other multitude of cryptocurrencies (“altcoins”), except perhaps ether (ETH), the token of the Ethereum network. (XRP, the tokendeveloped by Ripple Labs, has been in the top four cryptocurrencies by market cap for years, but is now under fireafter the SEC sued Ripple Labs, alleging it conducted a $1.3 billionunregistered securities offering.)
If the late 2017 bitcoin price surge was driven by crypto newbiesbuying in without doing their homework, the 2020 ride has beendriven by institutional buying. While newcomer retail investors are again buying bitcoin, manyindividual Wall Street namesandconsumer-facing payments companies have also warmed to crypto. This has all happened against the backdrop of the COVID-19 pandemic, with central banks pumping out stimulus money—a scenario that hasserved as a reminder of bitcoin’s scarcityand its appeal as “digital gold,” a hedge against inflation.
Wall Street firms pumped $5.75 billion into digital asset funds in 2020, up 660% from 2019, according to the Dec. 21crypto inflows reportfrom CoinShares Research.
The spike has pushed Grayscale Investments, the largest crypto asset fund, to $15.3 billion in assets.
In Q2 of this year, more than a dozen well-known Wall Street firms, including ARK Invest,disclosed to the SEC new investments in GBTC, Grayscale’s Bitcoin Investment Trust, a publicly traded fund pegged to the price of bitcoin,cited by JP Morgan strategists in Novemberas a leading indicator of institutional sentiment.
“A failure by the Grayscale Bitcoin Trust to receive additional inflows over the coming weeks,” JPM strategists wrote, “would cast doubt to the idea that institutional investors such as family offices have embarked on a trend of embracing bitcoin as digital gold.” As we now see, GBTC did not fail to receive additional inflows in December.
So much bitcoin is now held by long-term institutional investors that blockchain research firm Glassnode estimatesjust 22% of existing bitcoin is in circulation for trading, which could be positive for the price in 2021 but could also increase volatility.
Along with the spike in institutional interest, individual Wall Street investors, known for their influence, have changed their public tune on bitcoin.
In May, hedge fund titanPaul Tudor Jones said he has nearly 2% of his portfolio in bitcoin. He ranked bitcoin No. 4 on his list of hedges against inflation, and called it a “great speculation.” This month, heexpanded on his bullishness in an interview with Yahoo Finance, arguing that as cryptocurrencies proliferate, bitcoin will become even more differentiated as the “precious” coin: “the first crypto, first-mover in a world that's so compressed. It has that historical integrity within digital currencies that it will always have... And again, because of its finite supply, that might be the precious crypto.”
In November, billionaire investorStan Druckenmiller said he owns some bitcoin, telling CNBC he owns a lot more gold than bitcoin, but “if the gold bet works, the bitcoin bet will probably work better, because it’s thinner, more illiquid and has a lot more beta to it.” Bill Miller, the veteran investor and former CIO of Legg Mason, hasadded his name to the chorus, saying he expects all the big banks to hold cryptocurrency soon and that he has 30% of his own hedge fund portfolio in bitcoin.
Even Ray Dalio of Bridgewater, who had said earlier this year that he sees major problems with cryptocurrencies, including the potential for governments to “outlaw” them,said in a Reddit AMA this monththat bitcoin “could serve as a diversifier to gold” and that investors ought to “have some of these type of assets.”
Of course, many prominent bears remain bears. The economist Nouriel Roubini, who has the nickname “Dr. Doom,”reiterated this month on Yahoo Financethat he believes bitcoin is “not a currency... not a stable store of value... not even an asset,” and predicted that the “hyperbolic bubble is going to go bust.”
PayPal (PYPL) and Square (SQ) have been credited with intensifying the 2020 surge.
On Oct. 21, PayPalannounced it will soon allow bitcoin buyinginside its PayPal and Venmo digital wallets (as well as paying with bitcoin, though most people are not likely to want to spend their crypto as the price rises). The news sent PayPal shares soaring along with the bitcoin price, hailed as a major milestone: a consumer-facing payments company signaling its faith in bitcoin.
Squarehas been all in on bitcoin (particularly fueled by bitcoin maximalist CEO Jack Dorsey) since 2018, whenit added bitcoin buying and trading to its Cash App. This year, Square took the even stronger step ofbuying $50 million worth of bitcointo hold on its balance sheet. (Cloud company MicroStrategy bought more than $1 billion of bitcoin this year.) Square’s bitcoin revenue was up 618% in Q3 to $1.63 billion, and its Q3 bitcoin profit was up 1,500% to $32 million. Squareshares rose 246% in 2020, and bitcoin was part of it, though not the whole story.
But it isn’t just PayPal and Square.
Visa (V), over the past year, hasapproved a slew of Visa-branded bitcoin rewards credit and debit cards, and will add support for Circle’s USDC stablecoin (a cryptocurrency pegged to the value of the U.S. dollar) to its customer network. Visa tells Yahoo Finance it is "actively working with over 25 digital currency companies on a variety of bitcoin-related products and services, cards being just one area.”
JPMorgan Chase (JPM) has similarly warmed up to cryptocurrency (despite the public comments of CEO Jamie Dimon), first bylaunching an internal JPM tokenlast year, then this year byallowing customer transfers to and from U.S. crypto exchanges Coinbase and Gemini. Fidelity, which started mining bitcoin in 2016, this past summer launched its first bitcoin investment fund for institutional clients; Fidelity Investments CEO Abby Johnson told Barron’s that Fidelity’s bitcoin ventures have been “incredibly successful.”
All of these examples represent an obvious shift in sentiment from just one year ago, which is why many in the crypto space insistthis time is differentthan the 2017 price run.
The COVID-19 pandemic, and government reaction to it, handed bitcoin its dream scenario. When the Fed has to step in, crypto flag-wavers point to digital gold, free from government interference and quantitative easing. (Bitcoin’s supply will be capped at 21 million coins, with about 18.5 million coins created so far; mining creates new coins on the road to 21 million, but thereward for mining gets halved every four yearsas a means to slow creation.)
“There’s so many uncertainties in this pandemic, but one thing that seems almost assured is when you print trillions of dollars more paper money, it’s going to drive up bitcoin and other cyptocurrencies,” Dan Morehead, CEO of crypto investment firm Pantera Capital,said in August. “Gold’s going to go up, bitcoin’s going to go up. It is a hedge to paper currency being debased.”
In November, as the pandemic dragged on, more investors sought hedges, and asChainlink cofounder Sergey Nazarov said, “That seeking of safety leads them to look at alternatives. The modern global financial system is not very well set up to help people combat inflation, whereas there are alternatives, such as bitcoin, that are. Impending inflation is something that is more and more on people's minds, and inflation as a mechanism to devalue assets leads people to seek safety.”
The next question for crypto markets in 2021 will be what a President Biden administration means for crypto policy (maybe nothing), and whether bitcoin will in fact be a “safe” investment.
—
Daniel Roberts is an editor-at-large at Yahoo Finance and has covered bitcoin since 2011. Follow him on Twitter at @readDanwrite.
Read more:
Bitcoin shatters $20,000 mark, breakthrough price milestone for the largest digital asset
Bitcoin hits new all time high close to $20k, driven by institutional buying
Visa has also quietly warmed to crypto, along with PayPal and Square
Why bitcoin and altcoins are hot again this summer
Square's bitcoin bet is paying off
Jamie Dimon says bitcoin is 'not my cup of tea' even as JPMorgan has warmed to crypto || Bitcoin slides 10pc after record weekend, wiping off $90bn: Alternatives to Bitcoin have surged off the back of the currency's new record - Karen Bleier/AFP Bitcoin has fallen more than 10pc this morning after a record-breaking weekend where its value broke $34,000 (£24,870) for the first time. The Monday morning slump in Bitcoin's valuation has wiped around $90bn from the cryptocurrency's all time high market cap on Sunday. Bitcoin now stands at around $30,802, which is still considerably up from its $28,900 open to the year. Bitcoin is a cryptocurrency, a digital coin that is traded and recorded using blockchain technology, a digital ledger of all past transactions. Alternatives to Bitcoin have surged off the back of the cryptocurrencys record-breaking weekend. Crypto advocates have touted their merits as a hedge against the US dollar. Some have claimed that they offer a safer bet than gold while others point out that Bitcoin's 300pc rise over the past year has helped fuel a bubble. Ethereum, another digital currency, jumped to a high of $1,142 this morning, up from $741 on New Years Day, according to figures from Coindesk. Similarly Litecoin, another Bitcoin rival, recorded a 25pc rise to £108 since the turn of the year. Vijay Ayyar, head of business development with Singapore-based crypto exchange Luno, told Bloomberg that the movement in the alternative currencies had been driven by Bitcoins weekend surge. This rotation happens usually when Bitcoin has a large rally and investors rotate profits, he said. Bitcoins last price surge was in 2017, when a surge of speculation pushed the digital coins price to just under $20,000 . That record was broken on December 16 and since then, the digital coin has added more than $10,000 to its price. In 2020, Bitcoins price increased by 280pc amid global uncertainty and stock market swings. Markets in 2020 - Bitcoin David Madden, market analyst at CMC Markets, said the cryptocurrency had been on a very bullish streak recently. Some view it as an alternative investment, especially in an environment where central banks are deliberately trying to weaken their currencies in a bid to deal with the fall-out from the pandemic, he said. Bitcoin is also gaining more traction as a form of payment and its acceptance by PayPal has helped its recent rally too. || Eye-Popping Projection for $3T Crypto Market Underpins Bakkt Deal: Cryptocurrencies could grow fivefold by 2025 into a $3 trillion market, under new projections from Bakkt Holdings, the digital-asset financial firm. Bakkt published the estimate as part of an investor presentation released Monday in connection with its new plan to go public via a merger with Victory Park Capital , a special-purpose acquisition company. Bakkt is majority-owned by Intercontinental Exchange Inc., which also owns the New York Stock Exchange. The deal would give Bakkt an enterprise value of about $2.1 billion, according to a press release . The underlying assumptions behind the transaction show just how bullish investors, entrepreneurs and financial executives have become over the past year on the fast-paced digital-asset industry, especially after prices for bitcoin , the largest cryptocurrency, quadrupled in 2020 . Related: First Mover: Market Signs Look Healthy as Bitcoin Sell-Off Subsides Just last week, the industrys total market capitalization surpassed $1 trillion for the first time , though a swoon over the past few days in prices for bitcoin and other digital assets has since trimmed the total value to about $931 billion, according to the website CoinGecko . Bakkt currently runs a market for cryptocurrency derivatives including bitcoin futures, but in March the company plans to release a new consumer application that could allow users to manage digital assets and use them for spending and peer-to-peer payments alongside cash and rewards miles. Its these shifts that we are leveraging for the benefit of both customer and merchants, truly unlocking a massive market by empowering the monetization of digital assets, Gavin Michael, former head of technology for Citigroups global consumer bank, told investors Monday on a conference call, according to a transcript . In the investor presentation, Bakkt estimated its revenue, net of transaction-related expenses, could grow by an average 75% per year to $515 million by 2025. The company is expected to turn cash-flow positive by 2023. Related: As Bitcoin Regains Lost Ground, Options Traders Bet on $52K Move by Late January According to one slide in the investor presentation, Bakkt operates in a massive serviceable addressable market that was worth about $1.6 trillion in 2020, including $564 billion for the notional value of cryptocurrency. By 2025, the presentation estimates, the companys overall target market would increase to $5.1 trillion, including $3 trillion of cryptocurrency. Heres the diagram from the presentation: Story continues Related Stories Eye-Popping Projection for $3T Crypto Market Underpins Bakkt Deal Eye-Popping Projection for $3T Crypto Market Underpins Bakkt Deal View comments || Bitcoin breaks above $35,000 to touch new high: SHANGHAI, Jan 6 (Reuters) - Bitcoin traded above $35,000 for the first time in Asia on Wednesday, rising to a high of $35,879 and extending a rally that has seen the digital currency rise more than 800% since mid-March. The world's most popular cryptocurrency crossed $20,000 for the first time ever on Dec. 16. (Reporting by Andrew Galbraith; Editing by Jacqueline Wong) || XRP price crashes after SEC files charges against Ripple: The logo of blockchain company Ripple is seen at the SIBOS banking and financial conference in Toronto, Canada. Photo: Chris Helgren/Reuters XRP ( XRP-USD ), the worlds third biggest cryptocurrency, lost almost a third of its value on Wednesday as investors responded to official charges from the US Securities and Exchange Commission (SEC) alleging the token is an unlicensed security. The SEC on Tuesday filed charges against US company Ripple, whose founders created XRP. Two Ripple executives also faces charges. The SEC claimed Ripple and its executives sold unlicensed securities, violating investors rights in the process. The watchdog said the group had illegally raised $1.3bn (£968m) since 2013 by selling XRP tokens without authorisation from the SEC. We allege that Ripple, [Chris] Larsen, and [Brad] Garlinghouse failed to register their ongoing offer and sale of billions of XRP to retail investors, which deprived potential purchasers of adequate disclosures about XRP and Ripple's business and other important long-standing protections that are fundamental to our robust public market system, Stephanie Avakian, director of the SEC's enforcement division, said in a statement. The price of XRP sunk almost 30% against the dollar on Wednesday morning. The slump wiped around $5bn off the tokens market value. The price of XRP tanked after the SEC filed charges. Photo: Yahoo Finance UK The SECs complaint has been filed in Manhattan federal court and is seeking injunctive relief, disgorgement with prejudgment interest, and civil penalties. Ripple and its chief executive Brad Garlinghouse preemptively dismissed the charges on Tuesday. Garlinghouse said the charges were fundamentally wrong as a matter of law and fact, and vowed to fight them in court. WATCH: Charities turn to Bitcoin and other cryptocurrencies for donations READ MORE: XRP crashes as US SEC prepares to sue crypto creator Ripple XRP was created in 2012 as a cryptocurrency that could be used for cross border payments. Its creators founded Ripple to help seed an ecosystem using the token. Ripple owns the majority of XRP tokens in existence and periodically sells chunks of its holding. Garlinghouse and Larsen, who helped found XRP and Ripple, have also sold hundreds of million of dollars-worth of XRP over the years, the SEC said. Story continues Ripples close links to the XRP token have led the SEC to conclude that XRP is an unregistered security, akin to a share in Ripple itself. Ripple has long argued that XRP is actually a currency, not a security, and functions independently of Ripple. The question of whether XRP is a security has been dangling over the heads of early investors for a very long time now, and the fact that we will finally get some clarity on this matter can only be a good thing, said Mati Greenspan, the founder of Quantum Economics, which specialises in cryptocurrencies. Unless of course, it is deemed as a security, in which case it will be very difficult for anyone to use it for its intended purpose of settling transactions. The action against Ripple is the latest enforcement by the SEC against cryptocurrency companies for illegal fundraising activities. Ripple and XRP are by far the biggest targets the watchdog has gone after. Ripple was valued at $10bn in a fundraising last year and XRP is the worlds third biggest cryptocurrency, with a market value of over $20bn prior to this weeks action. WATCH: Will Interest rates stay low forever? || Global Societal Surveillance Market Research 2021: COVID-19 has Dramatically Reinforced the Notion that Surveilling Citizens Provides a Net Benefit to Society: Dublin, Jan. 27, 2021 (GLOBE NEWSWIRE) -- The "Global Societal Surveillance Market by Technology, Solution, Applications, and Services 2021 - 2026" report has been added to ResearchAndMarkets.com's offering. This research evaluates the companies, strategies, technologies and solutions involved in this emerging surveillance society market. It provides analysis and forecasting for key technologies and solutions including digital identity, tracking, mobile payments, blockchain technology, social credit systems, social distancing solutions, digital twins, augmented and virtual reality. Based on several key drivers, there is a major cultural shift underway towards a surveillance society, which entails primarily observation, tracking, and analysis of human behaviors. Rapidly becoming a social norm in some parts of the world, surveillance gained substantial societal support due to the need to surveil certain individuals that may be foreign state-actor supported terrorists, or in some cases, domestic enemies of the state. However, other factors, such as state control over civilian behavior have taken the fore with the rise of social credit monitoring and the advent of COVID-19, which have dramatically reinforced the notion that surveilling citizens provides a net benefit to society. Recent concerns and threats stemming from the pandemic have added a new dimension of safety and security to protect human lives. The new expectation will have a longer-term impact of routine behavior and processes. In addition to physical threats associated with pandemics, bad actors also seize the opportunity to engage in various threats against cyber infrastructure. By way of example, a recent initiative known as the Vaccination Credential Initiative (VCI), was formed by leading technology companies such as Microsoft, Oracle, Salesforce, and others for purposes of tracking COVID-19 vaccinations. More specifically, the VCI's stated purpose is to empower individuals with digital access to their vaccination records based on open, interoperable standards so they can achieve two things: (1) protect and improve their health, and (2) demonstrate their health status to safely return to travel, work, school and life while protecting their data privacy. When viewed as a whole as positive, the notion is that societal surveillance provides greater benefits than losses in terms of overall personal privacy. These benefits may include the ability to mitigate the impact of pandemics. On the other hand, the downside of civil surveillance is considered trading safety for liberty. Especially in the United States, the freedom to act anonymously is considered by many to be a core right of democracy in terms of civil liberties identified in the Bill of Rights. The post-pandemic era provides ample justification for persistent citizen identification and continuous tracking and tracing of location and social interactions. All of the key technologies used are evaluated throughout this research, which includes radio communications with devices, optical analysis via video and still pictures, and even via advanced biometrics such as unique biological signatures and presence as may be detected by ubiquitous sensors with reads transmitted via IoT and evaluated via AI-enabled analytics. Many of the technologies used for machine-related monitoring and analysis, such as computer vision for autonomous vehicles, shall be augmented for use in the social distancing solutions market in terms of identification, tracking, and tracing human behaviors. For example, real-world physical access is anticipated to be impacted in a big way due to the pandemic. Accordingly, the publisher sees a keen need for physical access controls, transforming how citizens travel, use public places, and interact with other people. These social distancing market technologies will provide the basis for solutions that enable tracking/identifying people for access to airports, parks, sporting venues, and other public places. The ability to identify, track, and correlate digital and physical identity is of paramount importance to the societal surveillance market. By way of example, digital currencies such as Bitcoin provide for a certain level of anonymity in terms of financial transactions. However, the underlying technology in support of crypto-currencies, blockchain technology, is being adopted by China as it looks to unveil a digital-only version of its currency, which would provide unprecedented governmental oversight and control over transactions. This fits with their drive towards a social credit society in which every citizens' actions are observed and considered. There is an emerging market for surveilling society, which includes observation, tracking, and data analytics to gather and analyze data. This market also involves the use of additional technologies such as the combination of digital twin technology, augmented and virtual reality to provide an improved means of observing and interacting with citizens. Additionally, governments may leverage the ability to observe citizen behaviors by tracking digital payments in an increasingly cashless global society. This market also includes the ability to score citizens as part of an overall social credit system that goes beyond "acceptable" and "unacceptable" individual behaviors to focus on government mandates such as compliance with public safety rulings associated with virus outbreaks. Story continues Select Research Findings: The ability to identify, track, and correlate digital and physical identity is of paramount importance to the societal surveillance market The combination of AI and big data analytics will be leveraged to identify correlations, trends, and predictive capabilities for government Blockchain will be adopted by certain sovereign nations as a means to provide a view into citizen behaviors and even control transactions The signal highest ROI solution for 5G by far is anytime, anywhere video and the biggest application is placement within smart cities for surveillance The role of human-machine trust and the ability for governments to gain visibility, control and mitigation is evolving with AI, IoT, and cybersecurity threats What started in China as a social credit system will evolve and expand to other nations as governments see the need to observe, track, and intervene with respect to citizenry Target Audience: Network operators AI and big data companies Video and surveillance companies Digital ID management companies Governmental agencies and NGOs Key Topics Covered: Asset Tracking Market by Technology, Infrastructure, Connection Type, Mobility, Location Determination, Solution Type, and Industry Verticals 1. Executive Summary 2. Asset Tracking Market Segmentation 3. Introduction 4. Asset Tracking Solutions 5. Asset Tracking in Industry Verticals 6. Company Analysis 7. Asset Tracking Market Forecasts 2021 - 2026 8. Conclusions and Recommendations 9. Appendix: Slap-and-Track Asset Tracking Solutions Market 2021 - 2026 Blockchain Technology Market by Service Type, Applications, Solutions, Industry Verticals 1. Executive Summary 2. Introduction 3. Blockchain Ecosystem and Marketplace 4. Blockchain Market Outlook and Forecasts 2021 - 2026 5. Blockchain Vendors 6 Conclusions and Recommendations Human and Machine Trust/Threat Detection and Damage Mitigation Market by Technology, Solution, Deployment Model, Use Case, Application, Sector (Consumer, Enterprise, Industrial, Government), Industry Vertical, and Region 1. Executive Summary 2. Introduction 3. Technology and Application Analysis 4. Company Analysis 5. Market Analysis and Forecast 2021 - 2026 6. Conclusions and Recommendations Social Credit Market by Physical and Cyber Infrastructure (Sensors, Cameras, Biometrics, Computer Vision), Software (Machine Learning, Data Analytics, APIs), Use Cases, Applications, Industry Verticals, and Regions 1. Executive Summary 2. Introduction 3. Social Credit System Technologies and Applications 4. Company Analysis 5. Social Credit Systems Market Analysis and Forecasts 6. Conclusions and Recommendations 7. Appendix: Social Credit Market Supporting Technologies Social Distancing Solutions Market by Technology, Gear, and Applications in Industry Verticals 1.0 Executive Summary 2.0 Introduction 3.0 Technology and Application Analysis 4.0 Social Distancing Solutions Company Analysis 5.0 Social Distancing Market Analysis and Forecasts 6.0 Conclusions and Recommendations 7.0 Appendix Digital Twins Market by Technology, Solution, Application, and Industry Vertical 1. Executive Summary 2. Introduction 3. Digital Twins Company Assessment 4. Digital Twins Market Analysis and Forecasts 5. Conclusions and Recommendations Artificial Intelligence in Information and Communications Technology: AI and Cognitive Computing in Communications, Applications, Content, and Commerce 1. Executive Summary 2. Introduction 3. AI Intellectual Property Leadership by Country and Company 4. AI in ICT Market Analysis and Forecasts 2021 - 2026 5. AI in Select Industry Verticals 6. AI in Major Market Segments 7. Important Corporate AI M&A 8. AI in ICT Use Cases 9. AI in ICT Vendor Analysis 10. Summary and Recommendations 11. Appendix: Key AI in ICT Patents Big Data Market by Leading Companies, Solutions, Use Cases, Business Cases, Infrastructure, Technology Integration, Industry Verticals, Region and Countries 1. Executive Summary 2. Introduction 3. Big Data Challenges and Opportunities 4. Big Data Technologies and Business Cases 5. Key Sectors for Big Data 6. Big Data Value Chain 7. Big Data Analytics 8. Standardization and Regulatory Issues 9. Key Big Data Companies and Solutions 10. Overall Big Data Market Analysis and Forecasts 2021 - 2026 11. Big Data Market Segment Analysis and Forecasts 2021 - 2026 12. Appendix: Big Data Support 0f Streaming IoT Data Next Generation Mobile Payments by Implantable Technology 1. Executive Summary 2. Introduction 3. Mobile Payment Technologies and Solutions 4. Mobile Payments Ecosystem 5. Regional Mobile Payment Market Analysis and Forecasts 2021 - 2026 6. Conclusions and Recommendations Augmented and Mixed Reality Market by Technology, Infrastructure, Devices, Solutions, Apps and Services in Industry Verticals 1. Executive Summary 2. Introduction 3. Augmented Reality Ecosystem 4. Augmented and Mixed Reality Market Drivers and Opportunities 5. Company Analysis 6. Market Analysis and Forecast 7. Conclusions and Recommendations Virtual Reality Market by Segment (Consumer, Enterprise, Industrial, Government), Equipment (Hardware, Software, Components) Applications and Solutions 1. Executive Summary 2. Virtual Reality Market Segmentation 3. Introduction 4. Virtual Reality Ecosystem Analysis 5. VR Company Analysis 6. Virtual Reality Market Analysis and Forecasts 2021 - 2026 For more information about this report visit https://www.researchandmarkets.com/r/8dfbq4 Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research. CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 || Bitcoin Dissidents: Those Who Need It Most: “You can say that Bitcoin’s headquarters is in Lagos now. Or in Minsk. Or Hong Kong.”
The year 2020, shaped by the global pandemic and political and economic crises worldwide, made us reconsider many things. Stuff that didn’t catch much attention before starts to matter. In crypto, new, powerful trends are also on the rise.
This article is part of CoinDesk’sMost Influential 2020– a list of impactful people in crypto chosen by readers and staff. The NFT for the artwork here – byXCOPY– is available for auction atThe Nifty Gateway, with 50% of the proceeds going to charity.
Related:Bridgewater's Ray Dalio Softens Stance on Bitcoin, Says It Has Place in Investors' Portfolios
While bitcoin traders might pray for another big investor to pump the market with a fresh money injection, a different kind of adoption is happening globally:bitcoincomes to those who need it most. Unstoppable, uncensorable internet money – bitcoin is catching on among protesters and dissidents around the globe.
“Bitcoin wallets today are easier and more effective than those in the past,” Alex Gladstein, chief strategy officer at the Human Rights Foundation, told CoinDesk. “Bitcoin’s liquidity has also grown enormously, and today there are people very happy to buy BTC from you in exchange for local currency in virtually every major urban area on Earth. For these two reasons, bitcoin is becoming a more viable tool for pro-democracy movements worldwide.”
This year has also been rich for protests and civil unrest – a friendly environment for bitcoin’s libertarian, rudderless nature – but that’s not the only reason it’s gaining momentum with the civic movements around the world. Looks like the crypto industry is finally catching up with the needs of people beyond the community of tech-savvy crypto-evangelizing fans.
Peoplerising against police brutality in Nigeria, thosefighting the ruling regime in Belarus, journalists in Hong Kong and theleader of the oppositionto President Vladimir Putin in Russia – they don’t necessarily believe in bitcoin’s mission, but for the mission they are on bitcoin became an essential tool.
Related:Bitcoin Price Drops $1,000 in Worst Sell-Off in a Week
Most of these people are not vocal bitcoin advocates, and some of them had been crypto sceptics before discovering bitcoin as something they can use. “I used to be quite far from the crypto world but this thing turned out to be useful,” said Yaroslav Likhachevsky, co-founder of BYSOL, a non-profithelping people in Belaruswho lost their jobs during the ongoing political tumult.
Gladstein, of the Human Rights Foundation, told CoinDesk the epicenter of the important bitcoin activity left the Western hemisphere: “You can say that the “headquarters of bitcoin” is in Lagos now. At least, everybody there understands its value proposition. Most of Silicon Valley is hopelessly ignorant about bitcoin,” Gladstein said.
Belarusians have been protesting the results of the recent presidential election since August,not recognizingthe current president Alexander Lukashenko as a legitimate winner and demanding that he quits. The regime responded withmass arrestsand brutal beatings by the police,internet shutdownsand firing of those who participated in the protests.
BYSOLis a non-profit started by a group of tech entrepreneurs to help people who were fired in retaliation for showing their political stance or quit their government jobs in protest. According to the officialwebsite, BYSOL has just recently distributed more than 1.9 million euros (over $2.3 million) in donations, all via bitcoin, to a thousand people across Belarus.
This did not get unnoticed by the ruling regime: Bank accounts of the BYSOL founders were soon blocked. Mikita Mikado, founder of a startup PandaDoc, who also helped BYSOL, found his employeesarrestedin September on fraud allegations. One of them, product director Viktor Kuvshinov, isstill in jail.
The team soon found out that while fiat rails are good for fundraising (BYSOL raised most of its funds viaFacebook’s fundraising interface), distributing help in fiat is hard. The authorities have been monitoring BYSOL founders’ bank accounts and blocking them, so crypto provided the only lifeline the regime could not touch.
Maria Koltsyna, one of the people BYSOL helped, talked to CoinDesk three months after she was fired from her job at a town hall for showing support to the opposition candidate during the election. She got $1,500 worth of BTC via a mobile crypto wallet – along with the instructions how to install and use it. She immediately put the money to work, buying a laptop and starting to learn a new job – search engine optimization (SEO).
Belarus, located in Eastern Europe between Russia and Poland, is a small economy but it turned into a regionalIT hubrecently, and one of the tech startups offered Maria Koltsyna a part-time job. She just got her certificate as a SEO professional and is excited for the future that awaits. She told CoinDesk the new life feels better than the one she left behind.
“When I worked in our city hall, I felt sad not seeing any results of our work, any respect or team spirit among coworkers. Now, in this company, everyone is working for the goal, supporting each other and sticking together.”
Losing the old job, together with the timely help, opened the door to totally different life, Maria said. She doesn’t hate waking up and going to work in the morning anymore. “It’s like I morally broke free,” she said.
One thing that makes her pessimistic, though, is the actual results of the protest movement. So far, Lukashenko is still clinging to his power, even though he occasionallyadmittedthat he might have been in power “too long.”
“It really worries me to think that on New Year’s Eve I turn on my TV and see the same president again,” Koltsyna said.
Koltsyna’s fears are not without foundation: Alexander Lukashenko chose to cling to his power, posing on cameraswith an assault rifleand deploying squads of riot police of thepeaceful protest marches.
Yaroslav Likhachevsky, CEO of a medical tech startup Deepdee, was a volunteer observer during August’s presidential election in Belarus and reported rule violations on his polling station. Together with other tech entrepreneurs and civil activists he founded BYSOL after the success of another initiative, where the activists raised funds for the COVID relief in Belarus, while the authoritiesdeniedthe country was hit by the pandemic at all.
Living between Belarus and Netherlands, where Deepdee is headquartered, Likhachevsky is now staying in Europe fearing persecution at home. But he hopes to “celebrate Christmas at home,” he told CoinDesk. He believes the collapse of the current political system in Belarus is inevitable, but admits the process can take much longer than several weeks, potentially stretching to years.
Same with the crypto adoption. So far, there are few Belarusians using bitcoin, even though some of them have been introduced to it first by BYSOL, just like Maria Koltsyna. Most converted bitcoin to fiat immediately upon receiving help, Likhachevsky said.
As a currency which deliberately expunges any notion of identity, supporting the transactions of dissidents has always been at the core of bitcoin.
“Right now, people view crypto as just a tool. But this can change when we grow the ecosystem significantly, so that people start paying each other in crypto,” he said. To start this parallel economy, the BYSOL team is now joining forces with several other non-profits helping people who were punished for protesting.
Among them areBy_help, helping people arrested during the rallies to pay court fines, and a peer-to-peer networkHonest People, where users can send money directly to the people in need, verified by volunteers. Together with BYSOL, these projects launched a mobile app, dubbedDigital Solidairty, that would aggregate the applications for help in one place, with a crypto wallet built in.
People will be able to apply for help and get it in one place, right on their phones, and donate to help others, too, Likhachevsky said.
Not that the other partners are excited about crypto, just as the BYSOL team wasn’t at first, Likhachevsky admits, but he’s planning to convince his colleagues to switch to crypto, too. A wake-up call came just weeks ago, when the Belarusian banksstarted blockingthe accounts of people By_help helped.
“After this news, we had no choice but to move towards the digital economy of the future,” Likhachevsky said. Not to shock too many people with bitcoin’s volatility, the non-profit might switch totether, a dollar-pegged stablecoin, he added.
BYSOL and others are preparing for a long game, even though they keep hoping victory is near. But the new infrastructure will be needed even if the protests reach their goal and Alexander Lukashenko quits, leaving the country for a new leader after 26 years of his authoritarian rule.
“People will need help for some time after Lukashenko is gone,” Likhachekvsky said. “Because the economy will need some time to recover after it hasn’t been developing for 20 years.”
Still, not too long to wait, he believes: “For good or bad, the wheel of history can not be stopped.”
Read more:Belarus Nonprofit Helps Protestors With Bitcoin Grants
In a different part of the world, the Feminist Coalition in Nigeria raised money to help people hurt by the police. The Coalition, just like the activists in Belarus, hadn’t used bitcoin until very recently.
The group, aimed at promoting women’s rights in Nigeria, this fall offered help to the protestors that demanded the dismantling of the Special Anti-Robbery Squad (SARS), an infamously violent police subdivision.
During the widespread #EndSARS demonstrations, people got hurt, arrested and even killed, so the Feminist Coalition helped with medical care, legal aid and funeral funding. After the local payment platform stopped servicing the organization, itswitched to bitcoin donations. According to the Coalition’s own report, by Oct. 22 it raised almost 12 BTC (about $155,000 at the price on that day).
The movement received support from across the globe: Gladstein of the Human Rights Foundation set them up with a BTCPay Server and Jack Dorsey, the Twitter CEO and a prominent bitcoin advocate (the first among theMost Influential by CoinDesk in 2019), invited his five million followers to donate to the Feminist Coalition in atweeton Oct. 14.
On Oct. 22, the group stopped the fundraising and issued astatementon its website, calling for the stop of protest actions. The tweet calling for donations Dorsey quoted a week before is also gone. The statement came after Nigeria’s President Muhammadu Buharicalledfor the protestors to stop going out on the streets.
“We are merchants of hope. Our priority is always the welfare and safety of the Nigerian youth,” thestatementby the Feminist Coalition said. “Following the President’s address, we hereby encourage all young Nigerians to stay safe, stay home, and observe the mandated curfew in your state. The Feminist Coalition has made a decision to henceforth stop all donation inflows for the #EndSARS peaceful protest.”
Earlier, on Oct. 12, Buhariannouncedthe dismantling of SARS, which the protestors have demanded. However, protestors werefar from satisfied, calling for further protection of the human rights in the country.
Alex Gladstein believes the victory of civil society is not yet there: “The government announced dismantling SARS and nothing happened.” He believes the Feminist Coalition stopped fundraising as the members didn’t feel comfortable staying in the spotlight anymore.
In the meantime, the Nigerian government apparently grew angry with the Femininst Coalition’s work and retaliated. In November, members found their bank accounts frozen, at least one had a passport confiscated, and the movement’s website was blocked in Nigeria,BBC reported.
On a broader scale, #EndSARS movement participants got their names on the country’sno-fly listsand weresuedfor looting and destruction of properties.
The Coalition itself declined to comment on why it stopped fundraising. “We’re taking some down time from the press while we focus on our next project,” one of the activists said.
Taking donations in bitcoin in the case of the Feminist Coalition helped solving one more issue: the anonymity of the donors, who might be afraid to attract the unfriendly attention of authorities. The case is not unique for Nigeria: in Belarus, police started subpoenaing people who were noticed donating to BYSOL, Likhachevsky said.
Read more:Nigerian Banks Shut Them Out, so These Activists Are Using Bitcoin to Battle Police Brutality
Belarus and Nigeria became this year’s hits in the bitcoin world, however, some activists and dissidents in other parts of the world have been quietly using crypto for years. One example is the Hong Kong Free Press, an independent media publication in the semi-autonomous exclave in a prolonged confrontation with mainland China.
Hong Kong has beenengulfed in street protestsfor more than a year after the introduction of the new security law last summer, which includes a provision where people facing criminal charges in mainland China can not avoid extradition if they flee to Hong Kong. The law was formally introduced by Hong Kong’s leader, Chief Executive Carrie Lam, who is considered pro-Beijing.
China also startedclamping downon Hong Kong’s media freedom, which directly affected the Hong Kong Free Press, among others: In August, the Hong Kong authoritiesdenied a work visato the HKFP Editor Aaron McNicholas.
The publication says it relies exclusively on readers’ donations, and part of it comes in the form of bitcoin. “Certainly, it’s reassuring to have a backup like this when the city is undergoing a press freedom crackdown,” HKFP Editor-in-chief Tom Grundy told CoinDesk via email, adding that the team is “grateful to the crypto community for supporting us through that channel.”
Grundy declined to detail how significant crypto donations were in the overall flow of support from the readers, only saying that “the donations are actually managed by a close friend of ours as we’re not especially well-versed in the mechanics of managing the funds.”
HKFP has raised HK$14,817 in bitcoin since 2015, as of September 2019, or a bit more than $1,900, Grundytweetedlast year. The tweet was dedicated to HKFP switching from BitPay to its open-source rival, BTCPay, because BitPay would delay the payments in fiat.
“Funds held for weeks simply b/c HK banks use SWIFT not IBANs,” Grundy tweeted, referring to the two different systems of inter-bank communications used in the world. BitPay replied to the complaint,tweetingthe delays were caused by the difficulties validating transaction data for the currency sent to Hong Kong banks.
Read more:Hong Kong’s National Security Law Could Threaten Local Crypto Brokerages
Another example of bitcoin as a lifeline for dissidents is Russia’s leading opposition politician, Alexei Navalny, who, along with asmall group of other Russian civic organizations, are supplementing fiat donations with a crypto option. This group includes Russia Behind Bars, a non-profit helping inmates and ex-inmates of Russian prisons, and Roskomsvoboda, an organization documenting Russian internet censorship.
Navalny started as a popular blogger and entered Russia’s political scene in 2013 when he campaigned to become Moscow city mayor (he lost), and then ran for president in 2018 (the Central Election Commission did not register him as a candidate). This fall, Navalny waspoisonedwith a chemical weapon – the fact Russian authorities have beenrepeatedly denying. Navalny has been recovering in a German hospital.
Our opponents understand they can’t cut us off from sources of funding
Navalny’s team has been raising funds in bitcoin, in addition to fiat donations, since December 2016. Since then, the politicianraisedover 651.5 BTC, using the money to support the work of his volunteers across Russia who investigate public officials, run for local offices and gather protest rallies.
Navalny’s bank accounts, as well as those of his family and allies, have been routinelyfrozen, so bitcoin is an uncensorable backup option, even though it only constitutes a small share of all donations. The fact that there is the option of donating in bitcoin can discourage the authorities from going after the activists’ bank accounts, said Leonid Volkov, who is managing the operations of Navalny’s allies network.
“Our opponents understand they can’t cut us off from sources of funding because [if they try] at least a part of the donations will go into crypto. Last time our accounts got frozen we saw an uptick in bitcoin donations,” Volkov told CoinDesk in July.
It can also serve as a safe vault if the authorities start arresting and freezing bank accounts. “If you see your bank accounts start getting frozen, you can take your money out in crypto and keep it there until the dust settles,” Volkov said.
Money is a powerful political tool, and a chance to rely on something that can not be weaponized by any state or financial authority is vital for the people who find themselves at odds with their country’s politics for any reason.
“As a currency which deliberately expunges any notion of identity, supporting the transactions of dissidents has always been at the core of bitcoin,” says Nic Carter, partner at Castle Island Ventures. “Indeed, one of the first high-profile uses of bitcoin was to fund Wikileaks in 2011.”
“At a time where financial infrastructure is increasingly politicized, and individuals risk getting unbanked or “derisked” from banks and payment processors for expressing disfavored political views, Bitcoin is rightfully gaining usage as a censorship-free payments medium,” Carter added.
Read more:Russian Activists Use Bitcoin, and the Kremlin Doesn’t Like It
What makes the activists using bitcoin different from the rest of the crypto community is their attitude towards crypto is maximally pragmatic and minimally enthusiastic. People sending crypto back and forth to support those repressed by their government might not want to step into the limelight and advocate for bitcoin.
Yet, they are serving as one of the most valid proofs for the crypto value proposition: borderless money with no one to stop it. As Leonid Volkov said:
“For us, bitcoin is just money.”
• Bitcoin Dissidents: Those Who Need It Most
• Bitcoin Dissidents: Those Who Need It Most || Latest Bitcoin price and analysis (BTC to USD): Bitcoin is enjoying a period of relative calm following a tremendous rally over the past month that saw it briefly eclipse its all-time high of $19,874. The world’s largest cryptocurrency moves into the weekend facing short-term sell pressure, causing a three percent decline with Bitcoin currently trading at $18,900. It does, however, remain bullish on all macro scales having recent printed the highest ever weekly and monthly close in its 11-year history. Consolidation in this region is ultimately healthy, as it gives bullish investors a change to recharge their batteries before putting in fresh capital in an attempt to lift Bitcoin above $20,000. But the eventual breakout above $20,000 won’t come easy. There is currently a 1,000 BTC sell order posted at the point of resistance on Coinbase, equating to $18.8 million. BTCUSD chart by TradingView If Bitcoin fails to achieve a higher high over the coming weeks it may set its sights on downside price targets like $17,110. Bouncing off a level of support like this would provide another higher low, exemplifying the bullish narrative that surrounds the entire asset class. It’s worth noting that Bitcoin is extremely volatile by nature and that even during its previous bull markets, corrections upwards of 30% are commonplace. A correction of that magnitude from here would take price back to around the $13,500 level of support, which is untested since the break out on November 2. 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.org Rebuts Craig Wright’s ‘Meritless’ Copyright Claim on Bitcoin White Paper: “We will continue hosting the Bitcoin whitepaper and won’t be silenced or intimidated. Others hosting the whitepaper should follow our lead in resisting these false allegations.”
So said Bitcoin.org, an independent open-source project that aims to support Bitcoin development,in a responseon Thursday to an attempt by nChain Chief Scientist Craig Wright to force the site to take down its copy of the Bitcoin white paper.
While Bitcoin was created by the pseudonymous Satoshi Nakamoto, who has yet to be identified, Wright has repeatedly made claims that he is Satoshi and, apparently contrary to the ethos of the founder, is attempting to claim he owns the copyright to Bitcoin’s intellectual property.
Related:What Is the Bitcoin White Paper?
Wright, who is a key advocate for the rival cryptocurrencybitcoin sv(for Satoshi’s vision), has now had his lawyers sent out letters to several entities seeking them to remove copies of the white paper from their websites, according to Bitcoin.org.
Wright is said to be claiming the copyright to the white paper, the “Bitcoin” title and ownership of Bitcoin.org.
“We believe these claims are without merit, and refuse” to take down the paper, said the organization.
However, the operators of bitcoincore.org, the website for the cryptocurrency’s developer team Bitcoin Core, did take down their copy of the paper, references to it deleted and the changesmerged on GitHub, according to Bitcoin.org.
Related:Why Everyone From Square to Facebook Is Now Hosting the Bitcoin White Paper
“By surrendering in this way, the Bitcoin Core project has lent ammunition to Bitcoin’s enemies, engaged in self-censorship and compromised its integrity,” said the organization.
See also:Bitcoin Core’s Latest Release Is Out: Here’s What’s in It
The organization said the Bitcoin white paper was included in the originalBitcoin project filesand the project was published under the permissive and freeMIT licenseby Satoshi Nakamoto. As such Bitcoin.org said “there is no doubt” it has the legal right to host the white paper.
“Furthermore, Satoshi Nakamoto has a known PGP public key, therefore it is cryptographically possible for someone to verify themselves to be Satoshi Nakamoto. Unfortunately, Craig has been unable to do this,” the post adds.
• Bitcoin.org Rebuts Craig Wright’s ‘Meritless’ Copyright Claim on Bitcoin White Paper
• Bitcoin.org Rebuts Craig Wright’s ‘Meritless’ Copyright Claim on Bitcoin White Paper || Longtime Bitcoin Developer Jonas Schnelli Receives Open Source Grant: Marathon Patent Group (MARA) announced Thursday it will bankroll the work of Bitcoin Core developer Jonas Schnelli. The year-long grant is worth $96,000, payable in bitcoin. Previously, Bitmain funded Schnelli’s work before nixing his and other’s grants last year, something Marathon Patent Group highlighted in its correspondence with CoinDesk. “Bitmain cancelled all of their funding for [Schnelli and other developers]…which left Jonas seeking a new grant,” Merrick Okamoto, Marathon’s chairman and CEO, told CoinDesk. Related: First Mover: Elon Musk #Bitcoin Moment Adds to Dogecoin, GameStop Wackiness “It feels amazing that the community has each others’ back. I sent a single tweet (that I lost the Bitcoin sponsorship) and things moved super fast,” Schnelli told CoinDesk. In a press release, Okamoto commented, “We believe it is essential that we do our part to help advance the Bitcoin network. Absent core developers like Jonas, Bitcoin’s efficacy and long-term adoption, and therefore our business, could be impacted. This grant will allow Jonas to continue his important work on our collective behalf.” Funding Bitcoin development The funding is crucial for an open-source project like Bitcoin that has no company or central entity backing it, and it’s coming from a grassroots movement of Bitcoin companies following each other’s leads to give back part of their profits to the developer community. Schnelli has been contributing to Bitcoin Core since 2013 and his 516 commits make him the the ninth most active developer on the Bitcoin Core code. Along with his work on the Bitcoin source code, he has created a code library for creating Bitcoin applications in the C coding language and helped design the BitBox hardware wallet. Related: Elon Musk-Prompted Bitcoin Price Surge Causes Liquidation of $387M in Shorts In addition to this grant, Schnelli also has 55 individual sponsors on GitHub . Story continues Schnelli told CoinDesk that he’ll use the new funding “to work on Bitcoin Core, mainly on maintenance and usability.” Namely, he’d like to finish up a working version of Bitcoin Improvement Proposal 324 for encrypted peer-to-peer messaging between Bitcoin nodes, along with “proposing a Simplified Payment Verification mode (SPV) for Bitcoin Core” and working on Bitcoin Core CI scripts . Bitcoin developer grants Another Bitcoin developer, João Barbosa, had his funding from Bitmain revoked at the same time as Schnelli, but Barbosa bounced back at the end of 2020 when he received one of Coinbase’s first Crypto Community Fund grants. Schnelli and Barbosa’s positions are not uncommon. Before last year, most all open-source developers in Bitcoin volunteered their time to work on the Bitcoin software and protocol. Others were lucky enough to be hired by a well-capitalized firm like Blockstream or Chaincode Labs, but most never received compensation for their work. Now, dozens of open source protocol developers and software designers are on the payrolls of Marathon, Coinbase, BitMEX , Kraken , OKCoin , Square Crypto , Gemini and Human Rights Foundation , among others. Update (18:42 UTC): This article has been updated with quotes and information from Marathon Patent Group. Update (19:16 UTC): This article has been updated with quotes from Jonas Schnelli. Related Stories Longtime Bitcoin Developer Jonas Schnelli Receives Open Source Grant Longtime Bitcoin Developer Jonas Schnelli Receives Open Source Grant
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 34269.52, 33114.36, 33537.18, 35510.29, 37472.09, 36926.07, 38144.31, 39266.01, 38903.44, 46196.46
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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 2018-06-21]
BTC Price: 6729.74, BTC RSI: 39.79
Gold Price: 1267.20, Gold RSI: 29.82
Oil Price: 65.54, Oil RSI: 43.66
[Random Sample of News (last 60 days)]
3 Big Implications of the AT&T-Time Warner Decision: A federal judge on Tuesday approved the merger ofAT&T(NYSE: T)andTime Warner(NYSE: TWX)after a six-week trial. While the decision will allow AT&T to move forward with its $85 billion acquisition, it will also have a much broader impact. The ruling opens the door for more massive corporate mergers and acquisitions in the media and telecom space, which could have a big impact on investors.
Here are three big implications of the AT&T-Time Warner decision.
Image source: AT&T.
Disney(NYSE: DIS)agreed late last year to acquire most of the cable and movie studio assets ofTwenty First Century Fox(NASDAQ: FOXA). The move would make Disney more of a behemoth in television and movies, and enable it tocompete with big streaming servicesby adding even more content to its own direct-to-consumer offering.
Meanwhile,Comcast(NASDAQ: CMCSA)has been eyeing both Fox andSky Networks, the European pay-TV giant. Fox owns a 39% stake in Sky and has a bid of its own to acquire the rest of the company.
Comcast had reportedly prepared an all-cash offering for Fox even before the court announced the AT&T-Time Warner decision. Fox's management had said it prefers a deal with Disney because it believes it would be easier to gain regulatory approval, but with the recent court decision, that objection may be moot.
As a result, the decision is great news for Fox. Comcast investors may be excited by the news, as it would give the company the opportunity to buy both Fox and Sky, but those acquisitions would weigh heavily on the company's balance sheet. Conversely, the ruling is bad news for Disney, which might have to go back to the drawing board with Fox.
WhenT-Mobile(NASDAQ: TMUS)andSprint(NYSE: S)announced their planned merger,shares of both companies fellalong with shares of AT&T andVerizon. The only explanation for the decline in share price across the board is the market's fears over whether the merger will be approved. The AT&T-Time Warner decision should mitigate those concerns and send stock prices higher across the board.
T-Mobile and Sprint merging provides the two companies with enough scale to take advantage of the huge fixed costs associated with operating a wireless network. The combined companies should be able to produce operating margins more closely in line with the wireless operations of Verizon and AT&T. T-Mobile's CFO, Braxton Carter, expects about $37 billion in synergies from combining the wireless networks and retail operations, among other things.
Without the need to scale, Sprint and T-Mobile may reduce the aggressiveness of their pricing and promotions, which could lead to better margins at AT&T and Verizon as well.
There are two large mergers in the healthcare industry that are under scrutiny as well.CVS(NYSE: CVS)andAetna(NYSE: AET)agreed to a$69 billion mergerlast October. The combined company would include a tripod of healthcare services including a retail pharmacy, a health insurer, and a pharmacy benefits manager. That's some significant vertical integration that would create quite an advantage over competitors.
Meanwhile,Cigna(NYSE: CI)agreed in March to buyExpress Scripts(NASDAQ: ESRX)in a deal worthmore than $50 billionin cash and stock. That would give Cigna two legs -- health insurance and a pharmacy benefits manager -- and put it on par with some of its larger competitors that have their own PBMs.
The increased likelihood of these vertical integration mergers going through following the AT&T-Time Warner decision should encourage investors. So far, that seems to be the case -- share prices for all four companies rose after the decision.
The AT&T-Time Warner decision makes it likely we will see many more of these large mergers and acquisitions by setting a precedent for a more hands-off approach to regulation. Fears of potential merger breakups should diminish, and it could lead to a lot more activity over the next few years. Investors would be wise to keep this bellwether case in mind moving forward, but that doesn't necessarily mean changing course to focus on companies only because they might be acquired.
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Adam Levyowns shares of Express Scripts. The Motley Fool owns shares of and recommends Walt Disney. The Motley Fool owns shares of Verizon Communications. The Motley Fool recommends CVS Health and T-Mobile US. The Motley Fool has adisclosure policy. || Forget the Stock Drop -- Booking Holdings Booked a Solid Quarter: In the mad rush to respond to earnings reports, many commentators almost ignore companies' actual business results, searching for whichever metric justifies the often short-term-minded philosophies of the traders who dominate after-hours trading. ForBooking Holdings(NASDAQ: BKNG)-- the newly renamed version of the online travel giant previously known as Priceline Group -- an immediate downward push for the share price overshadowed, in some people's minds, the strong performance that the company had during the first quarter of 2018.
Coming into Wednesday's first-quarter financial report, Booking investors were looking forstrong sales growth, but their views on the likelihood of bottom-line gains were more modest. Booking exceeded expectations on both fronts, but it's likely that traders once again ignored the fact that the travel giant often lowballs its forward-looking guidance, in a way that temporarily spooks those who don't have a longer history of seeing its results over time.
Image source: Booking Holdings.
Booking's first-quarter results continued in the footsteps ofPriceline's past performance. Revenue jumped 21% to $2.93 billion, outpacing the 19% growth rate that most of those following the stock were hoping for. Adjusted net income of $590.4 million was higher than year-ago levels by almost 20%, and the resulting adjusted earnings of $12.00 per share compared favorably to the consensus forecast of $10.67 per share on the bottom line.
Priceline's internal measures of performance were generally favorable as well. Gross bookings rose 21% to $25 billion, accelerating from the growth rate in the fourth quarter of 2017. Agency bookings growth was once again slower than the corresponding gains in merchant bookings, but the figures of 13% on the agency side and 74% for merchant business were solid. Yet naysayers will point out that currency gains played a key role in driving the numbers higher, and constant-currency bookings growth was just 12%, continuing its slowing trend over the past year.
Unit-based volume metrics went more clearly beyond the positive impact of the weak U.S. dollar. Room-nights sold rose just 13% to 196.8 million, further eroding what has been Booking's strongest segment. Rental-car days grew less than 1% to 18.7 million, and airline ticket sales amounted to just 1.8 million, up 2% from year-ago levels.
CEO Glenn Fogel remained pleased with Booking's performance. "We are off to a strong start in 2018," Fogel said, "with solid top and bottom line results for the first quarter." The CEO noted that optimization efforts for Booking's performance marketing helped to boost operating margin figures, and further gains could be possible.
Booking Holdings is optimistic about its future. As Fogel pointed out: "Our brands are making good progress, deploying investments to position us for continued future growth."
Yet as we've seen countless times in the past, many investors focused on Booking's guidance for the second quarter and drew dire conclusions. Booking said it expects to see room-nights booked pick up 7% to 11% during the second quarter, with gross travel bookings rising 10% to 14%, due largely to a 5-percentage-point tailwind from favorable currency movements. Adjusted net income of $795 million to $825 million should translate to between $16.35 and $17.00 per share, according to the company. That figure is consistent with current projections from investors of $16.71 per share in earnings, but many who saw the numbers seemed disappointed that Booking didn't have even more favorable projections -- despite the fact that it typically ends up outperforming them substantially.
Nevertheless, Booking investors reacted negatively to the news, and the stock fell 7% in after-hours trading immediately following the announcement. Slowing growth is a long-term problem that the travel giant will have to address. But those who areinterested in the stockcan take advantage of what appears to be a short-term overreaction -- from shareholders who lack enough experience with the company to understand how Booking Holdings handles its guidance.
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Dan Caplingerhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Booking Holdings. The Motley Fool has adisclosure policy. || Like Dividends? I Bet You'll Love These 3 Stocks: Investors have learned over the years that if they want income from their investment portfolios, dividend stocks are hard to beat. Stocks that pay dividends can pay off in two ways for investors: once through the income they provide, and a second time when fundamental business growth sends their share prices higher.
Long-term dividend investors can appreciate the stocks that have done the best job of rewarding them over the years. Among the best-known companies in the market,3M(NYSE: MMM),McDonald's(NYSE: MCD), andPepsiCo(NASDAQ: PEP)stand out as dividend stalwarts that have reliably paid dividends for decades.
Most people might know 3M best for its consumer products, including Post-it Notes and Scotch tape. But the company is one of the largest industrial corporations in the country, and its innovative prowess goes well beyond yellow stickies. The company makes a variety of products for the healthcare, energy, electronics, and industrial sectors, ranging from medical equipment to protective films and coatings. It's also been a dividend workhorse, having amassed a 60-year streak of raising its dividend payments to shareholders every year. The most recent jump came earlier this year, with a 16% boost to make its new quarterly dividend $1.36 per share. That's enough to give 3M a yield of 2.7%.
Image source: 3M.
After the company put in a strong 2017, some investors have worried about 3M recently. The conglomerate's first-quarter earnings report back in April includeddowngrades to 3M's full-year guidanceon a more than 50% plunge in net income. Yet extraordinary one-time items played a major role in the poor performance that 3M suffered. Although the electronics and energy markets have seen growth rates slow, 3M remains confident that its long-term prospects are sound and that investors can continue to rely on a lot more growth in the years to come.
McDonald's is also a mainstay among experienced investors, with its fast-food history dating well back into the 20th century. From a dividend perspective, McDonald's has helped satisfy a lot of investors' appetites. The company boasts a 42-year streak of raising its dividends each year, and its 7% boost late last year pushed its per-share quarterly payout above the $1 mark. That's enough to give the fast-food giant a 2.4% yield.
In the wake of strategic moves that have gotten its core customer base excited about its food offerings again,McDonald's has been firing on all cylinders lately. Moves like bringing out the all-day breakfast menu, offering various dollar value items, and looking for ways to appeal to a broader set of consumers across the globe have paid off with stronger comparable-restaurant sales and better traffic numbers. Competition remains fierce in fast food, but McDonald's has long shown an ability to appeal to generations of fans while offering an attractive value proposition to those who can't necessarily afford pricier dining options.
PepsiCo has a reputation for excellence in the snack and beverage industry, and offers a wider array of products than you might realize. In addition to its namesake cola product, the company also owns snack giant Frito-Lay, giving it a diversified presence and taking full advantage of its distribution prowess. Over the years, it's treated shareholders well, dealing out 46 straight years of rising payouts. When you take into account its 15% boost this month to $0.9275 per share on a quarterly basis, PepsiCo carries a yield of 3.7%.
It's also faced controversy because of its presence in the sugary beverage market, with some consumer advocates point to its products as contributing to rising rates of obesity and diabetes in the overall population. PepsiCo, though, has worked hard to promote healthier snacks and beverages, andstrategic moves recentlyhave only added to the company's investment in a healthier future. CEO Indra Nooyi and her "Performance with Purpose" vision has resonated with consumers, and that could continue to drive success in years to come.
No dividend stock is perfect, but these three companies have a lot of attractive attributes. If you need dividend income and like the stocks that provide it, odds are good that you'll end up loving PepsiCo, McDonald's, and 3M over the long haul.
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Dan Caplingerhas no position in any of the stocks mentioned. The Motley Fool recommends 3M. The Motley Fool has adisclosure policy. || Bitcoin could be just another failed currency experiment, Nobel-winning economist Robert Shiller warns: • Cryptocurrencies resemble some of the most famous failed currency experiments throughout history, says Nobel-winning economist Robert Shiller.
• Shiller, best-known for warning about the housing and dot-com bubbles, pointed to failed attempts in the early 19th century to issue "time money" to replace a gold standard.
• "None of this is new, and, as with past monetary innovations, a seemingly compelling story may not be enough," Shiller says.
Cryptocurrencies mirror some of the most famous failed currency experiments throughout history, according to Nobel-winning economist Robert Shiller.
Enthusiasm around the thousands of existing cryptocurrencies including bitcoin remains strong despite warnings from investors like Warren Buffet that they're worthless. That mania, and attempts to launch new units of money have existed in different forms since the 1800s, Shiller said.
Shiller, best-known for warning about the housing and dot-com bubbles, pointed to the early 19th century when merchants tried to replace the gold standard with "time money." The "Cincinnati Time Store" for example sold merchandise in units of work, and closed just three years after it launched. One hundred years later during the Great Depression, economist John Pease Norton, proposed a dollar by electricity, which also failed to catch on.
"Each of these monetary innovations has been coupled with a unique technological story," Shiller wrote in a blog post Monday. "But, more fundamentally, all are connected with a deep yearning for some kind of revolution in society."
Bitcoin and cryptocurrencies are no different, he said. They were introduced by a community of entrepreneurs who as Shiller put it, "hold themselves above national governments, which are viewed as the drivers of a long train of inequality and war."
The mania around bitcoin today is also due in part to its mystery, the Yale University professor said.
"Practically no one, outside of computer science departments, can explain how cryptocurrencies work, and that mystery creates an aura of exclusivity, gives the new money glamour, and fills devotees with revolutionary zeal," Shiller said. "None of this is new, and, as with past monetary innovations, a seemingly compelling story may not be enough."
The height of the public's fascination was also undoubtedly tied to bitcoin's meteoric rise in price. The world's first cryptocurrency rose to near $20,000 last year before losing roughly half of its value in the first quarter of 2018.
Here is the full post by Shiller.
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• Banks will trade crypto sooner than people think, says fmr. JPMorgan blockchain executive || Ripple CEO Says Bitcoin Is the ‘Napster of Digital Assets’: Ripple CEO Brad Garlinghouse just made some bold comparisons at Recode's Code Conference. He said that Bitcoin may have sparked the cryptocurrency mania, but it could ultimately end up like now-defunct music service Napster. "We may come to find that Bitcoin is kind of the Napster of digital assets,” he said . “This is transformative technology, but Spotify and iTunes and Pandora rule the day because they engaged with regulators to solve a real problem." It’s important to note that Garlinghouse’s opinion is not so surprising given the fact that his fintech startup Ripple has its own rival cryptocurrency. XRP, the third-largest cryptocurrency by market cap after Bitcoin and Ethereum, is the name for both a digital currency and an open payment network. It allows users to efficiently send money globally using the blockchain. Garlinghouse also criticized Bitcoin’s efficiency when it comes to making payments. He said it’s a bad idea for Bitcoin to replace fiat currency as the average Bitcoin transaction can take as much as 20 minutes and the transaction fees are still pretty steep. For context, Ripple can handle 1,500 transactions per second, while Bitcoin can reportedly only handle seven in the same timespan. Earlier this month, actor and tech investor Ashton Kutcher donated $4 million in Ripple's XRP tokens to wildlife charity, The Ellen DeGeneres Wildlife Fund. "We can actually transfer [the donation] into Rwandan francs right now, right here, and all we have to do is push this button and it's in your account," Kutcher said. See original article on Fortune.com More from Fortune.com Bitcoin Spinoff Hacked in Rare '51% Attack' An 'Emergency Sale' of Bitcoins Just Earned $14 Million for German Law Enforcement Bitcoin's Fate? This Cryptoasset Manager Sees Two Possible Outcomes Why Ashton Kutcher Donated $4 Million in Cryptocurrency to Charity Bitcoin Price Sinks Amid a New Federal Probe Into Cryptocurrency Price Manipulation || Deere Stock Upgraded: What You Need to Know: Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope... Shares of tractor maker Deere & Company (NYSE: DE) are up 27.5% over the past 12 months, doubling the performance of the S&P 500 already -- and the good news has only just begun, according to one industrials analyst. Predicting that higher grain prices will yield more money for farmers to spend on tractors, and that this will boost Deere's business, Swiss megabank UBS announced this morning that it is upgrading shares of Deere & Co. to buy and assigning the stock a $185 price target. Here's what you need to know. Two farmers standing in field of wheat, with a harvesting facility behind them Image source: Getty Images. UBS' buy thesis UBS' buy thesis for Deere hinges on one big assumption: That grain prices are headed higher, TheFly.com reports this morning. "[G]rain prices ... have a favorable setup entering the growing season," according to the analyst, and are headed higher. And because higher grain prices put more money in farmers' pockets, this "will stimulate a recovery in North America high-horsepower tractors, which ... have been declining for five years." UBS says this recovery has been slow in coming so far, but "could accelerate in fiscal 2019." So how likely is that? Farm report Along with the non-food crops of cotton and hay, corn, wheat, and soy account for 90% of all acreage planted in the U.S. Among edible grains, corn, wheat, and soy are arguably America's three most important grain crops -- and after a rough couple of years, the prices of all three have finally started going up again. US Producer Price Index: Farm Products: Wheat Chart US Producer Price Index: Farm Products: Wheat data by YCharts . FarmFutures.com reports that July futures contracts for corn hit their "highest levels since the summer of 2016" due to wet weather having delayed the planting season in the Midwest. Soybean prices, too, are on the rise, spurred by hopes that China will soon resume purchases of U.S. soy. And wheat prices are also rising, thanks to forecasts for dry weather that could depress yields in the Plains states, Australia, Canada, and Russia. Story continues So it appears conditions are propitious for price hikes, higher farm incomes, and more spending on the tractors and combines that Deere produces. What it means for Deere That makes logical sense, but does it mean Deere stock is a buy, as UBS argues it is? Not necessarily. As you can see in the below chart, Deere's stock price doesn't strictly track the price of major grains in the U.S. -- holding steady in late 2015/early 2016 for example, when grain prices were falling, and rising in late 2016/early 2017 when grain prices were... also falling! US Producer Price Index: Farm Products: Wheat Chart US Producer Price Index: Farm Products: Wheat data by YCharts . True, Deere stock performed well mid-2017 when all three major grain crops enjoyed a spike in price, and we seem to see that happening again this month. Still, investors can't rely on Deere's run will continuing given the stock's connection to grain price trends has been so tenuous in the past. I'm inclined to think investors would be better off spending more time focusing on whether Deere's stock price looks like a good value, rather than reading the ag reports, to determine if Deere stock is a buy or not. In that regard, I have to say that with a price-to-earnings ratio of 28 and a long-term projected earnings growth rate of 5% (according to analysts surveyed by S&P Global Market Intelligence ), Deere stock is in fact not a particularly compelling buy at today's prices. And if pressed, I might even point out that Deere is currently running free-cash-flow negative on its business, as it has done for more than a year now -- which is hardly a point in the stock's favor. Long story short, while I certainly understand why recent trends in grain prices might make UBS feel optimistic about Deere stock, I don't share the optimism. As any farmer knows, crop health can change in a hurry -- and the rally in Deere's stock price could wither just as fast. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Rich Smith 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 Apple, Kraft Heinz, and California Resources Jumped Today: Friday was a strong day on Wall Street, as major benchmarks finished higher by 1% to 2%. Market participants focused their attention on the April jobs report, which included a drop in the unemployment rate to 3.9%, its lowest level in more than 17 years. Nonfarm payroll gains of 164,000 weren't extremely strong, and some saw wage growth of just 2.6% as bad news for workers. Yet from many investors' perspective, weak wage growth is actually a positive, as it indicates a lack of inflationary pressure that's good for most stocks. Good news regarding several key individual companies also helped stoke favorable sentiment.Apple(NASDAQ: AAPL),Kraft Heinz(NASDAQ: KHC), andCalifornia Resources(NYSE: CRC)were among the best performers on the day. Here's why they did so well.
Shares of Apple climbed 4% to hit a record high afterBerkshire HathawayCEO Warren Buffett reported that he hadincreased his stake in the iPhone makerduring the first quarter of 2018. Buffett said in an interview with CNBC that Berkshire bought 75 million more shares of Apple, worth roughly $13.5 billion at current prices, and that brought the total holdings for the insurance conglomerate to 240 million shares, worth more than $43 billion. With the Berkshire annual shareholder meeting taking place this weekend, Buffett's words carry even more weight than usual, and some still believe that Apple shares are bargain-priced even at all-time-high levels.
Image source: Apple.
Kraft Heinz stock rose almost 6%, adding to its gains from Thursday following the company's first-quarter financial report. The food giant suffered from weak sales, with overall revenue falling 0.3% on a 1.5% decline in organic sales. Yet adjusted earnings grew from the year-earlier quarter, and investors liked the fact that the ketchup maker held onto its pricing power even in a tough retail environment. BecauseKraft Heinz is a Berkshire holding, the pre-annual meeting media blitz elicited comments from Kraft CEO Bernardo Hees, who noted that even though Buffett has left the Kraft board, he doesn't see any change in strategy going forward. Some thought that the departure might give Kraft the go-ahead to consider a major acquisition, something many investors think would be a good avenue for growth.
Finally,shares of California Resources soared more than 22%. The oil company reported a surprise profit in its first-quarter financial report, due largely to stronger production figures than most of those following the stock had expected to see. Between higher production and rising energy prices, California Resources was able to make a good-sized dent in its outstanding debt, improving the health of its balance sheet in a way that could boost its ability to make future capital investments. The oil company still has further to go, but the results were encouraging for those who've stuck with California Resources through several difficult years.
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Dan Caplingerowns shares of Apple and BRK-B. The Motley Fool owns shares of and recommends Apple and BRK-B. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has adisclosure policy. || 3 Top Stocks That Are Cash Cows: Sales growth tends to grab many investors' attention. But a quickly growing top line isn't as valuable as dependable cash flow that a company can direct toward improving the operations or use to protect the business during downturns.
With that in mind, let's take a look at a few stocks that are pairing impressive sales gains with market-leading cash flow production right now.
Image source: Getty Images.
Its 2012 push into the imported beer business has turned out well forConstellation Brands(NYSE: STZ). The alcoholic-beverage giant has seen its sales roughly triple since it purchased the U.S. rights to the Corona and Modelo beer franchises -- even as profitability has jumped by nearly 10 full percentage points, to 30% of sales.
Its cash production figures are even more impressive. Operating cash flow improved by 13% last year, to $1.9 billion, following a 21% spike in the prior year.
With help from strong demand across its premium beverage portfolio, executives are forecasting $2.5 billion of cash generation in fiscal 2019. And ifhistory is any guide, Constellation Brands should make smart use of those funds. The company will aggressively invest into the business, continue adding brands to its portfolio, and likely still have cash left over to boost direct returns to shareholders through stock repurchases and a dividend payment that recently jumped 42%.
McDonald's(NYSE: MCD)operates less than 10% of its massive global restaurant base, choosing instead toallow franchisees to run those businesseswhile the fast-food giant collects rent, fees, and royalty payments. "This structure enables McDonald's to generate significant levels of cash flow," executives explain in their annual report. Last year, that cash haul totaled $5.6 billion, or a whopping 25% of annual revenue.
These strong finances give Mickey D's the flexibility to make the type of investments needed to protect its leadership position in the brutally competitive fast-food industry. After returning to market-thumping growth in 2017, the company is planning to boost its capital investments by over 20% -- to $2.5 billion -- this year. The cash will go toward upgrading and modernizing thousands of its stores and better equipping these restaurants to compete in the digital-sales channel. Most rivals couldn't even approach that level of spending, but for McDonald's, it's an outlay that's easily affordable.
Video game titles have become much more valuable lately. Digital delivery has added new revenue streams like microtransactions, while extending the useful life of many games into a full year or longer. AndActivision Blizzard(NASDAQ: ATVI)has been driving those trends and benefiting from them at the same time.
Image source: Getty Images.
The video game publisher's annual operating cash flow crossed $2.2 billion last year, up from $1.3 billion two years ago. The metric spiked by 30% at the start of fiscal 2018, too, thanks to its bigger portfolio of hits that'sattracting record gamer engagement.
Besides the continuing trend toward digitally delivered games, Activision has a few other major avenues for growth ahead, including e-sports, consumer products, and advertising sales. These initiatives likely will help keep the company on top of its industry while supporting healthy returns for investors.
Activision executives describe their operating cash flow as one of the company's "fundamental" financial strengths. And just as is the case for McDonald's and Constellation Brands, the funds give management the flexibility to be aggressive in expansion times like these without exposing investors to risks like excessive debt that might threaten the company during those inevitable industry downturns.
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Demitrios Kalogeropoulosowns shares of Activision Blizzard and McDonald's. The Motley Fool owns shares of and recommends Activision Blizzard. The Motley Fool has adisclosure policy. || Craftsman Tools at Lowe's: Bad News for Sears Holdings: In early 2017, Sears Holdings (NASDAQ: SHLD) sold the rights to its storied Craftsman tool brand to Stanley Black & Decker (NYSE: SWK) . Stanley Black & Decker agreed to pay $525 million upfront -- plus supplemental payments with an estimated present value of at least $375 million -- for the right to manufacture and sell Craftsman-branded products outside of Sears Holdings-affiliated channels. The upfront windfall helped Sears Holdings cover some of its 2017 cash burn. The supplemental payments will shore up its underfunded pension plan. But now, Sears must pay the piper. On Monday, home improvement giant Lowe's (NYSE: LOW) began selling Craftsman tools and accessories made by Stanley Black & Decker. It probably won't take long for the availability of Craftsman products at Lowe's (and elsewhere) to start cannibalizing sales at Sears stores. The Craftsman tools are in early this year Lowe's announced last October that it would start carrying Craftsman tools . This was the first new distribution announcement made after Stanley Black & Decker closed the Craftsman deal. However, at the time, Lowe's stated that Craftsman products wouldn't start arriving in its stores and online until the second half of 2018. Instead, Stanley Black & Decker managed to get some Craftsman products to its new retail partner by mid-May: months ahead of the original schedule. Lowe's is now selling a selection of Craftsman-branded tool sets, tool storage units, garage organizers, and other items. A Lowe's employee and a customer looking at a Craftsman tool storage unit in a Lowe's store. Lowe's just started stocking Craftsman products in its stores and online. Image source: Lowe's. As Lowe's noted, the timing for this product launch is perfect, with the key Father's Day holiday coming up next month. Later in 2018, Lowe's will begin stocking its full Craftsman collection, which will include items like individual hand tools and power tools. Another sales headwind for Sears Tools are one of Sears Holdings' strongest product categories today (along with appliances). In fact, while Sears' revenue has been in a tailspin over the past few years, the company probably brought in at least $1 billion last year from selling Craftsman tools. Story continues The growing availability of Craftsman products outside of Sears stores is bound to cannibalize tool sales at Sears, which is already struggling with weak store traffic. While Craftsman tools have been sold at the likes of Ace Hardware previously, Lowe's is a whole different animal, with roughly 10 times the annual revenue of the Ace Hardware chain. At the time that it acquired the rights to the Craftsman brand, Stanley Black & Decker estimated that Craftsman would contribute about $100 million of revenue growth each year for 10 years. Stanley Black & Decker made this projection before Sears accelerated its rate of store closures, so it could potentially surpass that revenue growth target, at least in the near term. This isn't a huge amount of sales for Sears to lose, in the grand scheme of things. After all, Sears Holdings' revenue plunged by more than $5 billion last year. But it will still hurt, because the Craftsman tool business is undoubtedly one of Sears' most profitable business lines, due to the continuing power of the brand. How much more can Sears withstand? For the past several years, Sears Holdings has been burning an average of nearly $2 billion of cash annually. A special committee of the board is investigating more asset sales in an effort to improve the company's balance sheet. This news and other recent strategic moves have caused Sears Holdings stock to rally this month. That said, any recovery in the stock is predicated on the idea that Sears Holdings will eventually be able to stem its sales declines and cash burn. In fact, given that Sears is running out of assets to sell, the company probably needs to reach breakeven within two or three years to survive. Expanded distribution of Craftsman tools made by Stanley Black & Decker will make it harder than ever for Sears Holdings to reach breakeven. While the Craftsman sale bought the company some time, that's all it did. Sears Holdings is still likely to collapse within the next year or two. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Adam Levine-Weinberg has no position in any of the stocks mentioned. The Motley Fool recommends Lowe's. The Motley Fool has a disclosure policy . || Can Vipshop Rebound From Its Post-Earnings Plunge?: Shares ofVipshop(NYSE: VIPS)tumbled nearly 20% on May 15 after the Chinese e-tailer reported its first-quarter numbers. Its revenue rose 25% annually to 19.9 billion yuan ($3.2 billion), beating estimates by $120 million, but its non-GAAPnet income dropped 9% to 728 million yuan ($116 million), or 1.05 yuan ($0.17) per ADS, missing expectations by a penny. But did Vipshop deserve to decline that much in a single day?
Vipshop controlled about 3% of China's business-to-consumer (B2C) market last year, according to Analysys International Enfodesk, putting it a distant third behindAlibaba's(NYSE: BABA)Tmall andJD.com(NASDAQ: JD). However, Vipshop carved out a defensible niche with flash sales -- which helped it survive as its smaller rivals died out.
Image source: Getty Images.
Last December,Tencent(NASDAQOTH: TCEHY)and JD co-invested $863 million in Vipshop.That investment-- which gave Tencent a 7% stake and boosted JD's existing stake from 2.5% to 5.5% -- was a strong vote of confidence for the underdog retailer.
The move integrated Vipshop's marketplace with Tencent's WeChat, the top mobile messaging app in China, and allowed Vipshop and JD to share their marketplace resources and forge strategic alliances with brand suppliers. In theory, those moves could help all three companies counter Alibaba.
Vipshop's 25% year-over-year sales growth during the quarter was supported by robust growth in active customers and higher spending per customer. Its active customers over the past 12 months rose 2% annually to 56.6 million. Its total orders climbed 25% to 90.2 million for the quarter, which also lifted its average revenue per customer by 25%.
Image source: Getty Images.
Also, 86% of Vipshop's customers were repeat customers, up from 77% a year ago. And 96% of all its orders were placed by repeat customers, up from 92% a year earlier.Vipshop also enrolled 1.5 million customers into its Super VIP paid membership program, which represents 54% growth from the fourth quarter.
Vipshop's logistics network is also improving. It delivered about 99% of its orders via its in-house last-mile delivery network during the quarter, compared to 93% a year earlier. That service also handled 81% of customer returns, up from 67% a year ago. It also added a warehouse in Frankfurt, Germany, to expand its overseas network -- which also includes warehouses in Hong Kong, New York, Paris, Milan, London, Seoul, Tokyo, and Sydney.
Vipshop also tightened its bonds with JD and Tencent during the quarter. In March, it launched its co-branded JD flagship store, which attracted "approximately half a million followers within the first two months," the company said in its first-quarter press release. In April, it integrated a "mini-program" store into WeChat's platform -- which has about one billion monthly active users -- and launched special promotions for WeChat Wallet.
But for the current quarter, Vipshop expects just 17% to 22% annual sales growth -- which would represent itsslowest evergrowth rate. That's a disappointing figure for investors who had expected its partnerships with Tencent and JD to boost its long-term sales.
Meanwhile, Vipshop's bottom-line miss was partly caused by a decline in its gross margin, which dropped three percentage points annually to 20.2%. The reclassification of third-party logistic costs from fulfillment expenses to cost of revenues reduced its gross margin by 0.9%, while the rest of its decline can be attributed to pricing pressures across the e-commerce market.
Vipshop's operating expenses also rose 13% annually -- as higher fulfillment, technology & content, and general & administrative expenses offset a 12% reduction in its marketing expenses. As a result, Vipshop's free cash flow dropped from $429 million a year earlier to negative $217 million for the first quarter. Its cash and equivalents also fell from 9.97 billion yuan at the end of 2017 to 7.01 billion yuan ($1.12 billion).
Those numbers indicate that like its partner JD, which also recently disappointed investors with abottom-line miss, Vipshop is spending money on the expansion of its digital ecosystem and logistics network to generate higher growth in the future. However, Vipshop's smaller size leaves it more vulnerable to competitors than JD -- which controls about a third of China's B2C market.
Vipshop's earnings miss was disappointing, but the stock arguably overheated after Tencent and JD's investment last year -- soaring from about $8 to nearly $19 in just over two months.
But after its post-earnings sell-off, Vipshop trades at just 14 times this year's earnings. That's a reasonable valuation compared to analysts' estimates for 26% sales growth and 12% earnings growth this year. However, I personally wouldn't rush in to buy Vipshop -- since Tencent and JD are clearly more stable long-term plays.
More From The Motley Fool
• 3 Growth Stocks at Deep-Value Prices
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Leo Sunowns shares of JD.com and Tencent Holdings. The Motley Fool owns shares of and recommends JD.com and Tencent Holdings. The Motley Fool has adisclosure policy.
[Random Sample of Social Media Buzz (last 60 days)]
Maxcoin Price
Price:
USD: 0.0799272
BTC: 0.00001044
RUB: 4.9719575008
CNY: 0.5131630648
http://MaxcoinProject.org
Rank: 642 || How NOT to give up on Steemit: https://forumcoin.com/viewtopic.php?f=67&t=17526&r=2678 … $BTC $sbd $STEEM || “Nocoiner : Someone Who Has No Bitcoin” in Times Square, New York https://ift.tt/2xCoFos #cryptocurrency #crypto || Shouldn't we be considering (fees per block) / block size? This is where my understanding isn't as strong but supporting a chain of full but efficient 1mb blocks should be less expensive than ineffictient 32mb? || RT The_Crypto_Buzz: https://hackernoon.com/3-things-not-to-do-when-bitcoin-is-going-down-e80097d15796 … #bitcoin #cryptocurrency #trading || Like them or not, these are important fundamentals. Forget chart reading - track this stuff instead, and invest for the medium to long term based on growth of aggregate value and shifting risks: regulatory, technical, legal and the ebb and flow of the total Bitcoin ecosystem. || Can no longer take @RevolutApp seriously now they added BCash and XRP without adding Bitcoin withdraw/deposit.
Will be taking my business elsewhere. || Claim FREE Bitcoin Cash for watching videos – current returns: 0.0008 $BCH daily
https://www.earncrypto.com/earn-free-bitcoin-cash/?r=91976&MFQ …
$DAR $BQ $RLC $AHT $DTB $FONZ $BIS $MTLMC3 $CCT $ELIX $AMBER $EQT $VOLT $CASH $EBST $SYS $KIN $NVST $AHT $SANDG $UNITS $DLT $TER $KNC2 || #Thailand’s #Tax On #Cryptocurrency
https://www.cryptoworldjournal.com/thailand-tax-cryptocurrency/ …
#BCnation #BlockchainNation #CWJ #CryptoWorldJournal #Blockchain #Crypto #Fintech #News #CryptoBlockFin #Bitcoin #BTC #Ethereum #ETH #Ripple #Litecoin #LTC #Tech #Finance #Mining #Regulation #Government #Conferencepic.twitter.com/fWYDAlwJXi || #LIZA #LAMBO price
06-13 12:00(GMT)
$LIZA
BTC :0.16000
ETH :2.19000
USD :1095.0
RUR :65450.0
JPY(btc) :115970.4
JPY(eth) :117077.4
$LAMBO
BTC :6.540
ETH :60.011
USD :37812.0
RUR :2000022.0
JPY(btc) :4740290.1
JPY(eth) :3208188.1
|
Trend: up || Prices: 6083.69, 6162.48, 6173.23, 6249.18, 6093.67, 6157.13, 5903.44, 6218.30, 6404.00, 6385.82
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2021-12-27]
BTC Price: 50640.42, BTC RSI: 50.18
Gold Price: 1808.10, Gold RSI: 54.83
Oil Price: 75.57, Oil RSI: 56.40
[Random Sample of News (last 60 days)]
Global Markets in 2021: Recoveries, reflation and wrecking balls: By Marc Jones and Saqib Iqbal Ahmed
LONDON/NEW YORK (Reuters) - For global financial markets, the second year of the COVID pandemic has been nearly as dramatic as the first.
The stocks bulls have stayed firmly in charge, surging energy and food prices have turbo-charged inflation, rattling the bond markets, while China has seen $1 trillion wipeouts in its heavyweight tech and property sectors.
On top of all that, Turkey exits 2021 in currency chaos, bitcoin and other cryptocurrencies have crushed it, small-time traders gave some hedge funds a drubbing and though green has gone mainstream, dirty oil and gas have been the big winners, up about 50% and 48%, respectively.
1/STOCKS TILL YOU DROP
MSCI's 50-country world index has added more than $10 trillion, or 20%, thanks to COVID recovery signs and the torrent of central bank stimulus that has continued to flow. The S&P 500 has gained 27%, while the tech-heavy Nasdaq is up 22%.
European banks have had their best year in over a decade with a 34% gain, but emerging market equities have lost a woeful 5% , led by a 30% plunge in Hong Kong-listed Chinese tech hit by Beijing's moves to limit their influence.
"We think U.S. equities are absolutely bonkers," said Tommy Garvey, a member of asset manager GMO's asset allocation team, adding that valuations in most other parts of the world were also expensive. (Graphic: World stocks have seen $10 trillion surge in value in 2021, https://fingfx.thomsonreuters.com/gfx/mkt/mypmnaejdvr/Pasted%20image%201640093340625.png)
2/OIL TAKES THE SPOILS
Commodity markets have had a blinder as the world's big resource-hungry economies have tried to get back to some kind of normal. Respective 50% and 48% gains for oil and natural gas are their best in five years and left prices well above pre-pandemic levels.
Key industrial metal copper hit a record high back in April and has jumped nearly 25% for the second year in row. Zinc has seen a similar gain, while aluminium has made about 40% in its best year since 2009.
Precious metal gold has dipped but the agri-markets have blossomed with corn up by nearly 25%, sugar up 22% and coffee 70%. (Graphic: Oil, gold, bitcoin, coffee and stocks, https://fingfx.thomsonreuters.com/gfx/mkt/dwpkrzwmnvm/Pasted%20image%201640120980934.png)
3/BEARS IN THE CHINA SHOP
China's crackdown on its big online firms, combined with a property sector crisis, have wiped over a trillion dollars off its markets this year.
Alibaba, China's equivalent to Amazon, has tumbled nearly 50%. The golden dragon index of U.S.-listed Chinese stocks is down 42%, while homebuilder Evergrande has just become its biggest-ever default.
That has sent a wrecking ball crashing into the Chinese high-yield or 'junk' bond market, which has lost roughly 30%. Property firms' bonds account for 67% of the main ICE Chinese high-yield index..
"If home sales keep dropping at the rate they are at the moment you could easily shave another 1% off of (Chinese) GDP," cautioned AXA Investment Managers' Head of Active Emerging Markets Fixed Income Sailesh Lad. (Graphic: Chinese stocks battered by Beijing clampdown, https://fingfx.thomsonreuters.com/gfx/mkt/gkvlgloqmpb/Pasted%20image%201640102441723.png)
4/BONDS - NO TIME TO BUY
Booming inflation and big central banks starting to turn off the money taps has made it a difficult year for bond markets.
U.S. Treasuries - the global benchmark for government debt investors - are set to deliver a loss of around 3%, their first red result since 2013, while German Bunds were down around 9% as of Dec. 22.
On the positive side, the most risky band of corporate 'junk' bonds - those rated CCC and below - have made around 10% in both the U.S. and Europe..
Inflation-linked bonds have also done well, unsurprisingly, with U.S. TIPs returning 6%, euro-denominated equivalents earning 6.3% and British linkers making 3.7%. (Graphic: Negative returns for most major bond markets in 2021, https://fingfx.thomsonreuters.com/gfx/mkt/myvmnalbapr/returnsdec21.PNG)
5/MEME MADNESS
Retail traders took to Wall Street in a big way this year, driving eye-popping moves and huge trading volume in the so-called 'meme' stocks.
Shares of GameStop rose nearly 2,500% in January, but will end the year up 700%. AMC Entertainment, another meme favourite, is still up about 1,200% for the year, although it was up as much as 3,200% in early June.
Tesla, doyen of the electric car sector, recovered from a skid early in the year. But other funds or stocks linked to innovation – such as the ARK Innovation Fund and some solar energy stocks, BioTech shares and special purpose acquisition companies or SPACs – are down 20% to 30%. (Graphic: Meme madness, https://fingfx.thomsonreuters.com/gfx/mkt/mopanqrlava/Pasted%20image%201639710413899.png)
6/TURKISH LIRA TAKES A BATH
Turkish lira slumps are hardly rare these days, but this year's blow-up has been spectacular even by its standards.
Things started to turn ugly in March when self-declared enemy of interest rates, President Tayyip Erdogan, replaced another central bank governor. But it has gotten worse since his new head of the bank started slashing rates in September.
Despite a modest bounce after the government sketched out an unorthodox plan to limit the pain, the lira is still down over 40% for the year and the government's bonds have been hammered. (Graphic: Turkey's turbulent 2021, https://fingfx.thomsonreuters.com/gfx/mkt/lbpgnlaywvq/Pasted%20image%201640105944633.png)
7/INFLATION PALPITATIONS
A surge in inflation became a major concern for investors in 2021 as the pandemic disrupted the global supply chain and made it difficult to meet demand for everything from microchips to potato chips.
With U.S. inflation ramping to its highest since the 1980s, the Federal Reserve announced this month it will end its pandemic-era bond purchases sooner than previously expected and the Bank of England became the first G7 central bank to hike interest rates since the COVID outbreak.
Other major central banks are expected to follow next year, but some of the major emerging markets are already well advanced in the process. (Graphic: Global inflation surged in 2021, https://fingfx.thomsonreuters.com/gfx/mkt/gdvzymojdpw/Pasted%20image%201640103430004.png)
8/SUBMERGING MARKETS
Investors had high hopes for emerging markets coming into the year, but many have been disappointed.
China's struggles and the persistence of COVID have seen EM stocks lose 5%, which looks even worse when compared to a 20% rise in the world index and the 27% leap on Wall Street.
Local currency EM government bonds have fared badly too, losing 9.7%. Dollar-denominated bonds have performed a bit better, especially in countries that produce oil, but J.P. Morgan's EM currencies Index, which excludes China's yuan, has shed almost 10% .
"China was the huge story of the year," said Jeff Grills, Aegon Asset Management's head of emerging markets debt, adding next year was likely to be all about how quickly and far interest rates rise and how growth holds up. (Graphic: Global FX in 2021, https://fingfx.thomsonreuters.com/gfx/mkt/klvykqkonvg/Pasted%20image%201640972753218.png)
9/CRYPTO CRUSHES IT
Bitcoin at nearly $70,000; "memecoins" worth billions of dollars; a blockbuster Wall Street listing and a sweeping Chinese crackdown: 2021 was the wildest yet for cryptocurrencies, even by the sector's freewheeling standards.
Bitcoin's near 60% jump may look paltry compared to last year's 300% rise, but that has come despite a Chinese crackdown in May which saw it nearly halve in price.
Dogecoin, a digital token launched in 2013 as a joke bitcoin spin-off, soared over 12,000% from the start of the year to an all-time high in May - before slumping about 80% by mid-December.
Non-fungible tokens (NFTs) - strings of code stored on the blockchain that represent unique ownership of digital art, videos or even tweets - have also exploded in the mainstream. A digital collage by U.S. artist Beeple sold for nearly $70 million at Christie's in May, making it one of the top three most expensive pieces by a living artist ever sold at auction. (Graphic: Peaks and troughs: Bitcoin's 2021 rollercoaster, https://graphics.reuters.com/FINANCE-YEARENDER/zjpqkyzaepx/chart_eikon.jpg)
10/GREEN DREAM
The dream to go green has remained front and centre this year. Green bond issuance is set for yet another record year, at nearly half a trillion dollars. The "ESG" version of MSCI's flagship world stocks index is up more than 2 percentage points than the standard version while China's most environmentally friendly stocks index has surged more than 45% even as other sectors there have crumpled.
(Additional reporting by Yoruk Bahceli in Amsterdam, Noel Randewich in San Francisco and Tom Wilson and Elizabeth Howcroft in London; Editing by Dan Grebler) || Top five places to spend Bitcoin: Since its inception in 2009, Bitcoin is the largest and most well-known digital currency. Its acceptance as a payment method has grown a lot in the last few years. There are also solutions to scale its transaction capacity, making Bitcoin more realistic as a day-to-day payment method. Quite a handful of countries and companies all over the world accept Bitcoin as payment. Asia is leading the way in retail Bitcoin adoption, with peer-to-peer monetary systems driving the most development in Vietnam, India, and Pakistan. Now, you must be curious about where exactly you can spend your Bitcoin. Let us help you out by telling you the top places you can spend your Bitcoin… Brief history of Bitcoin Bitcoin made its public debut in 2009 as a decentralised currency without the need for a central bank or any intermediaries. In the same year, Bitcoin was first used after it was released as open-source software when Satoshi Nakamoto (the nom de plume of the anonymous founder) mined the genesis block of the blockchain. Since then, Bitcoin has been traded hundreds of millions of times and is increasingly viewed as a legitimate means of exchange. Moreover, In October 2021, the cryptocurrency set new highs when its price went past $66,878. As of August 2021, more than 76 million people on Blockchain.com had created unique Bitcoin wallets to access, buy, and trade Bitcoin. Outlook of Bitcoin adoption More and more governments are getting interested in Bitcoin, supporting the adoption of blockchain technology and BTC payments. Far more interesting are the governments who want to support the development of their own cryptocurrencies. According to Chainalysis data , global adoption of Bitcoin and cryptocurrencies has increased by more than 880% in just a single year. Chainalysis discovered that Vietnam currently has the highest cryptocurrency adoption, leading the 154 countries analysed. While India sits in second place, it is immediately followed by Pakistan then Ukraine and Kenya. Story continues Many citizens in developing nations worldwide already opt to use Bitcoin to store and exchange value. While countries like China, Russia, Indonesia, Turkey, Egypt among others have either banned or restricted Bitcoin in some way, it is only a matter of time for such use cases to spread across the globe, triggering Bitcoin’s usage as a unit of account. Applicable use of Bitcoin Due to the explosive growth of the cryptocurrency ecosystem in the past nine years, it is now possible to do many things with Bitcoin – including travelling the world – by spending cryptocurrency. Established travel agents such as CheapAir and Destinia accept Bitcoin as a payment method to book flights, car rentals, and hotels. People can also buy tech-related products with Bitcoin. Several companies that primarily sell tech products accept Bitcoin on their websites with prominent examples including Newegg, AT&T, and Microsoft . Bitcoin can also be used to buy a range of things including shopping for groceries and buying cosmetics at Lush. You can also buy coffee at Starbucks . Moreover, you can use Bitcoin to purchase real estate in some parts of the world including in Venezuela, Zurich and Amsterdam. Top five places to spend Bitcoin 1. San Francisco San Francisco is the technology capital of the United States and it is home to cryptocurrency trading platforms Coinbase and Kraken. More than a hundred merchants accept Bitcoin, from restaurants and bars to hostels and stores. In fact, there are 437 Bitcoin ATMs in the Bay Area, including 65 in the city of San Francisco itself. 2. Vancouver Vancouver is arguably the Bitcoin capital of Canada. There are more than fifty merchants who accept Bitcoin in Vancouver or the surrounding suburbs, and 221 locations to buy Bitcoin . You can buy lots of things in Vancouver including food and Real Estate. 3. Amsterdam Amsterdam is home to mining hardware maker Bitfury and the European headquarters of payment service provider BitPay. The city’s 840,000 residents have about half a dozen Bitcoin ATMs available to them. You can go shopping, travel, eat and sightsee with Bitcoin in Amsterdam. 4. London London is home to 8.9 million residents, 50 bitcoin ATMs , and about the same number of merchants who will accept Bitcoin for payment. You can book accommodation, flights, buy jewellery with Bitcoin among other things in London. 5. El Zonte, El Salvador This tiny tourist town is rebranding itself as “Bitcoin Beach”. Bitcoin can now be used to pay taxes, and foreign investors will not be subject to capital gains taxes. You can pay for groceries and utilities with Bitcoin in El Zonte. In conclusion, since the first block was mined in 2009, Bitcoin has made substantial progress. The impressive rate of adoption indicates that virtual currencies are here to stay. Although some countries are cold to the idea, many are warming up to Bitcoin and that’s what we are here for. || The Crypto Daily – Movers and Shakers – November 17th, 2021: Bitcoin, BTC to USD, slid by 5.49% on Tuesday. Following a 2.92% fall on Monday, Bitcoin ended the day at $60,068.0.
A bearish day saw Bitcoin slide from an early morning intraday high $63,562.0 to a late morning intraday low $58,625.7
Bitcoin fell through the first major support level at $62,493 and the second major support level at $61,426.
Coming within range of the third major support level at $58,433, Bitcoin briefly revisited $61,300 levels before easing back.
The second major support level pegged Bitcoin back in the 2ndhalf of the day.
The near-term bullish trend remained intact, supported by last Wednesday’s ATH $68,958.
Across the rest of the majors, it was a bearish day on Tuesday.
Litecointumbled by 12.40% to lead the way down.
Binance Coin(-7.05%),Bitcoin Cash SV(-5.89%),Cardano’s ADA(-7.04%),Chainlink(-8.89%),Ethereum(-7.77%), andRipple’s XRP(-7.10%) also struggled.
Crypto.com Coin(-3.41%) and Polkadot (-3.38%) saw relatively modest losses on the day, however.
Early in the week, the crypto total market rose to a Monday high $2,902bn before falling to a Tuesday low $2,501bn. At the time of writing, the total market cap stood at $2,597.
Bitcoin’s dominance fell to a Monday low 43.26% before rising to a Tuesday high 44.01%. At the time of writing, Bitcoin’s dominance stood at 43.73%.
At the time of writing, Bitcoin was up by 0.41% to $60,313.0. A mixed start to the day saw Bitcoin fall to an early morning low $59,777.0 before rising to a high $60,409.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Crypto.com Coin bucked the trend at the start of the day, sliding by 4.19%.
It’s been a bullish start for the rest of the majors, however.
At the time of writing, Bitcoin Cash SV was up by 2.00% to lead the way.
Bitcoin would need to move through the $60,752 pivot to bring the first major resistance level at $62,878 into play.
Support from the broader market would be needed for Bitcoin to move back through to $62,000 levels
Barring a broad-based crypto rally, the first major resistance level and Tuesday’s high $63,562 would likely cap the upside.
In the event of an extended rally, Bitcoin could test resistance at $65,000 levels before easing back. The second major resistance level sits at $65,688.
Failure to move through the $60,752 pivot would bring the first major support level at $57,942 into play.
Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$57,000 levels. The second major support level sits at $55,816.
Thisarticlewas originally posted on FX Empire
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• Twitter CFO Shows His Reluctance to Invest Company Funds in Cryptos || HIVE Blockchain Provides Results from Shareholder Meeting, Review of 2021 Achievements and Corporate Update: This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated February 2, 2021 to its short form base shelf prospectus dated January 27, 2021. Vancouver, British Columbia--(Newsfile Corp. - December 22, 2021) - HIVE Blockchain Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: HBF) (the "Company" or "HIVE") is pleased to announce that all resolutions considered at its 2021 annual meeting of shareholders on December 21, 2021 were approved overwhelmingly by its shareholders. The Company is also providing a corporate update for its fiscal third quarter ending December 31, 2021. Shareholders Approve Resolutions The resolutions approved by the shareholders present in person or represented by proxy at the meeting were: All director nominees were duly elected or re-elected to HIVE's board of directors. HIVE's Board of Directors consists of Frank Holmes, Marcus New, Dave Perrill, Ian Mann and Susan McGee. Each director will serve until HIVE's next annual meeting of shareholders or until their respective successors are elected or appointed or they otherwise cease to hold office. Davidson & Company LLP was re-appointed as independent, external auditor of HIVE for the ensuing year or until its successor is appointed, and the Board was authorized to fix its remuneration. The Company's Stock Option Plan and Restricted Share Unit Plan were re-approved. The resolutions voted on at the meeting are described in more detail in HIVE's Management Information Circular, dated November 9, 2021, which was mailed to shareholders and is available on SEDAR at www.sedar.com . Corporate Update The Company has thus far in its fiscal third quarter, from October 1 to December 21, 2021, mined more than 6,280 Ether and 600 Bitcoin, based on the Company's preliminary unaudited results. Bitcoin Production Increased The Company is on track to have an increase in the number of Bitcoin mined thus far in its fiscal third quarter of approximately 600 Bitcoins mined from October 1 to December 21 and is mining over 7 Bitcoin per day on average, thus the Company is on track to have mined more Bitcoin in its fiscal third quarter compared to 656 Bitcoins mined for the prior quarter. This increase has been driven by the previously announced investments that have been made into new generation miners and the expansion of our Bitcoin mining facilities. Story continues This drop in the production of Ether in the current quarter compared to the prior quarter will be offset partially by the average price of Ether increasing by 45%, and the higher Bitcoin mined in this quarter boosted by the increase in the price of Bitcoin in the quarter of over 35%. As mentioned before HIVE has continued to be aggressively spending money on upgrading the efficiencies of our GPU chips to mine Ether in the cloud. Ether Production Slowed The Company is mining over 65 Ether per day and is on track to mine over 6,900 Ether by the third quarter end, which will represent a decrease from the approximately 8,688 Ether mined in HIVE's second fiscal quarter ended September 30, 2021. Due to new participants' entry into the Ethereum ecosystem, which was validated by the rise in the hashrate difficulty, the average difficulty increased by of over 16% compared to the prior quarter, including the highest difficulty ever experienced on December 7, 2021. However, a strong Ether price during the Company's fiscal third quarter has helped to support strong overall mining economics, despite rising difficulty. Ether and Bitcoin Inventory HIVE has a healthy coin inventory of both Ether and Bitcoin and has a continuing strategy to build our inventory through calendar 2022. We are no longer selling coins but banking them through the New Year, to have more inventory than is reported today. TSX.V Short Positions On December 15, 2021, the Company had a short position of over 29.5 million shares. HIVE remains profitable and less expensive than many other technology stocks generating above average cash flow returns on invested capital as measured by FSA Valuation Service's Matt Kacur. Options Begin Trading As a result of the strong interest in the stock of HIVE, the Company now has actively traded options listed on the Nasdaq. Frank Holmes, Executive Chairman said, "I am very honored to see the support and encouragement from shareholders and our team in achieving so many milestones over the past year. From the GPU Atlantic acquisition, to hitting 1.5 Exahash and achieving record revenue per share and cash flow. Our balance sheet from mining and HODLing BTC and ETH hit an all time high, and we have exciting growth planned for the next 12 months mining both BTC and Ether with the latest high performing chips. As we said in our AGM presentation, we do not believe Proof-of-Stake is an imminent danger but rather FUD (fear, uncertainty, and doubt) we have endured about ETH mining for the past 4 years while we continue to generate low-cost high returns for our shareholders. We believe that Layer 2 technology will help facilitate the growth in adoption of ETH and mining to be sustainable. Our ETH HODL position has been a powerful addition to our financials results while we continue to be the only mining company focused on green energy and holding both BTC and ETH 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. HIVE traded over 2 billion shares in 2020. 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 and U.S. 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, the potential for the Company's long-term growth, and the business goals and objectives of the Company. 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 the 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 current profitability in mining cryptocurrency (including pricing and volume of current transaction activity); profitable use of the Company's assets going forward; the Company's ability to profitably liquidate its digital currency inventory as required; historical prices of digital currencies and the ability of the Company to mine digital currencies will be consistent with historical prices; and there will be no regulation or law that will prevent the Company from operating its business. 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 their inherent uncertainty. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/108311 || Twitter Bitcoin Tips Offer Glimpse of A Real-World Payments Future: BeInCrypto –
Cryptocurrencies offer a wide range of solutions to current financial problems. However, these fixes are still often more theoretical than practical. One area where a strong push for real-world use is being made is on Twitter.
This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto || First Mover Asia: Bitcoin Tops $50K, Ether, Other Altcoins Rise: Good morning. Here’s what’s happening this morning:
Market moves:All eyes were on the Chinese stock market, as bitcoin funding rates on Chinese derivatives exchanges slowly recovered from negative territory.
Technician’s take:Bitcoin was stabilizing above its 20-day average two days after its 20% plummet.
Catch the latest episodesofCoinDesk TVfor insightful interviews with crypto industry leaders and analysis.
Bitcoin (BTC): $50,509 +2.3%
Ether (ETH): $4,324 +3.1%
S&P 500: $4,591 +1.1%
Dow Jones Industrial Average: $35,227 +1.8%
Nasdaq: $15,225 0.9%
Gold: $1,778 -0.2%
Bitcoin inched up on Monday two days after plummeting 20%, and at one point neared $51,000. The largest cryptocurrency by market capitalization was trading well over $50,000 at the time of publication. Trading volume was even lower than a day ago across major centralized exchanges. Ether was up over 3% to $4,324.
According to Singapore-based crypto trading firm QCP Capital, bitcoin’s average funding rate, or the cost of holding long positions in the perpetual futures listed on exchanges popular among Chinese traders, including Huobi, OKEx and Bybit, recovered from negative territory much more slowly than the funding rate on other major exchanges such as Deribit. (Exchanges calculate funding rates every eight hours.)
“This indicates persistent selling out of China,” QCP Capital wrote in its Telegram channel on Monday, citing “bad news” from China, including China ride-hailing giant Didi’sannouncementto delist from the New York Stock Exchange. Other Chinese tech stockstumbledfollowing the news, as investors worried that other Chinese tech firms would be pressured to follow Didi’s move.
Meanwhile, China real estate giant Evergrande Group’s stocks and bonds bothfellto historically low levels, as the Chinese governmentstepped upits involvement in the company’s management. The deeply indebted Chinese real estate developer has been an important factor in the performance of crypto and broader financial markets, CoinDesk hasreportedpreviously.
Bitcoin Drops Below $56K as Momentum Slows, Support at $53K
Bitcoin is stabilizing above its 200-day moving average, currently at $46,000, after a nearly 20% sell-off over the weekend. The cryptocurrency was roughly flat over the past 24 hours, and was trading at around $49,000 at the end of the New York trading session. BTC is down about 15% over the past week.
The relative strength index (RSI) on the daily chart is the most oversold since July, which preceded a strong price recovery. Still, oversold conditions could persist for several days as sellers gradually exit positions.
BTC is poised for a short-term bounce, although upside appears to be limited toward the $55,000-$60,000resistancezone. Over the long term, weekly momentum indicators have shifted negative for the first time since April, which preceded a brief crypto bear market.
8:30 a.m. HKT/SGT (12:30 a.m. UTC): Australia house price index (Q3 YoY/MoM)
10 a.m. HKT/SGT (2 a.m. UTC): China exports of goods and services (Nov. YoY)
10 a.m. HKT/SGT (2 a.m. UTC): China imports of goods and services (Nov. YoY)
10 a.m. HKT/SGT (2 a.m. UTC): China trade balance (Nov.)
1 p.m. HKT/SGT (5 a.m. UTC): Japan leading economic index (Oct.)
In case you missed it, here are the most recent episodes of“First Mover”onCoinDesk TV:
Bitcoin, Altcoins Regain Ground; What Caused the Weekend Crash? Trung Nguyen on Axie Infinity’s Next Move
“First Mover” dove into crypto markets to discuss what happened over the weekend when bitcoin and altcoins suddenly dropped dramatically. Rufus Round, CEO of GlobalBlock Digital Asset Trading, shared his analysis and outlook. Also, Sky Mavis co-founder and CEO Trung Nguyen spoke about Axie Infinity’s popularity and the future of non-fungible token (NFT) gaming.
Craig Wright Found Not Liable for Breach of Kleiman Business Partnership:A jury ruled Wright must pay $100 million to W&K Info Defense Research but cleared him of all other charges.
Japan Moves to Impose New Regulations on Stablecoin Issuers:Report: The country is reportedly moving to introduce legislation in 2022 to limit the issuance of stablecoins to banks and wire transfer companies.
Crypto Mining Stocks Extend Declines as Bitcoin, Ether Prices Fall:However, D.A. Davison sees mining stocks as a better buying opportunity than bitcoin itself.
Wrapped Bitcoin’s Supply Has More Than Doubled, but BadgerDAO Hack Exposed Risks of Moving Bitcoin to Ethereum:Higher returns usually come with higher risks.
Gemini to Allow Crypto Trading in Colombia Under Government-Sponsored Pilot Program:The company plans to offer bitcoin, ether, litecoin and bitcoin cash trading in partnership with local bank Bancolombia starting in December.
Miami’s Multiple Money Visions:This week’s big NFT event showed an innovation moment in full swing (even if many of the ideas on show are unlikely to make it).
Olympus DAO Might Be the Future of Money (or It Might Be a Ponzi):Right now, it’s a money game. One day it could be the backbone of all ofdecentralized finance(DeFi).
The Big Miss in the Biden Administration’s Stablecoin Report:We know that banks will not continue to rule the payments landscape. So why give them control over stablecoins?
Today’s crypto explainer:What Are Bitcoin Mining Pools?
Other voices:Bitcoin Buyers Flock to Investment Clubs to Learn Rules of the Road || Bitcoin Mining Entry Triggers a 6,700% Surge in Thai Tech Stock: (Bloomberg) -- A world-beating share rally by a Thai technology company after it unveiled an expansion into Bitcoin mining has surprised even the firm’s chairman.
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Jasmine Technology Solution Pcl stock has more than tripled since the plan was announced in late July, although the cryptocurrency project has yet to generate significant earnings for the firm. Year-to-date, the share surge is nearly 7,000%, most among global tech companies with a market value of at least $2 billion, according to data compiled by Bloomberg.
“The strong response from investors has exceeded our expectations,” Chairman Soraj Asavaprapha said in an interview. “There’s bullish optimism toward our new direction even though this is just the beginning. ”
Jasmine Technology is just one of many Thai firms diversifying into the digital-asset arena. Consumer-appliance maker AJ Advance Technology Pcl this month announced its inaugural investment in Bitcoin mining. Siam Commercial Bank Pcl and Kasikornbank Pcl have also taken stakes in cryptocurrency startups.
Enthusiasm for crypto products, especially among young investors, has driven trading in locally-licensed exchanges to a series of new record highs -- prompting regulators to propose tighter rules.
Jasmine Technology has generated only eight Bitcoins from its 325 mining machines since operations were started a few month ago. Soraj expects next year to be much more active, driven by plans to invest about 3.3 billion baht ($98 million) in as many as new 7,000 devices. Revenue from the mining business will account for about 80% of the company’s total turnover by late 2022, he said.
“We still have little idea about the company’s fundamentals, valuations and revenue projections because this Bitcoin mining is very new in Thailand,” said Wilasinee Boonmasungsong, an analyst at Globlex Securities Co. in Bangkok. “It’s received a good welcome from investors for being the nation’s pioneer, but there is some regulatory risk.”
The Bank of Thailand said last month that regulators plan to issue more detailed rules governing digital assets to protect the financial system and investors. Turnover at seven locally-licensed crypto exchanges surged to 221 billion baht ($6.58 billion) in November, compared to 18 billion baht a year earlier, according to the Securities and Exchange Commission’s data.
Local rules won’t affect Jasmine Technology, said Soraj, as the company can sell digital tokens worldwide and the mining business will be profitable as long as the price of the world’s biggest cryptocurrency holds above $30,000. Bitcoin recently traded at about $51,000.
Jasmine Technology’s net income in the first nine months jumped 436% from a year earlier to 150 million baht as sales from its traditional telecommunications-related businesses increased. The stock, which reached a record high earlier this month, trades at nearly 500 times its trailing 12-month earnings, data compiled by Bloomberg show.
The company’s largest shareholder with a 33% direct stake is broadband provider Jasmine International Pcl, whose chairman resigned in 2019 after the Thai SEC said he used inside information for trading in a subsidiary.
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©2022 Bloomberg L.P. || For Sale: $10M Yacht, DOGE Accepted: Cryptocurrency payments continue to gain traction in the world of luxury goods, with a 170-foot yacht being the latest example.
The owners of Italian-builtViannesaid in astatementMonday that prospective buyers will be able to buy the vessel with bitcoin (BTC), ether (ETH), dogecoin (DOGE) as well as SOL, FTM, BNB or “top tier” non-fungible tokens (NFT) from the CryptoPunk or Bored Ape Yacht Club collections.
That said, a 10% fiat deposit is required.
Vianne is listed for $10 million and can be chartered this winter for $196,000 per week in the Caribbean. She features a sky-deck jacuzzi and can accommodate 12 guests.
“Whilst cryptocurrency payments are increasing in the yachting industry, this would make Vianne the largest-ever yacht to be purchased with NFTs,” the vessel’s owners said in a statement.
The ability to pay for this superyacht with cryptocurrency is a sign of a broader embrace by the luxury goods industry – be itDolce & GabbanaorSotheby’s.
Read more:Banksy Paintings Sell for 3,093 ETH in Auction House First
In addition, Morgan Stanley estimated in arecent noteto clients thatmetaversegaming and NFTs could represent a revenue opportunity of 50 billion euros for the luxury market by 2030. France-based Kering, the owner of luxury brands such as Gucci and Yves Saint Laurent, is best placed to take advantage of the metaverse, the bank said in its note.
Back on the high seas, the owners of Vianne say crypto is already a reality.
“In the last 12 months, especially, we have leaned towards transacting using crypto, where relevant and possible,” the owner’s family office told CoinDesk via email. “We are in the process of procuring a larger yacht for the owner, and if/when we do transact, we would definitely be paying in crypto (stablecoins, [altcoins], etc.) if it is an option.” || From Square to Block: Another tech company changes its name: SAN FRANCISCO (AP) Theres a new Silicon Valley corporate name change on the block. A month after Facebook renamed itself Meta , Square Inc., the payments company headed by former Twitter CEO Jack Dorsey, is changing its name to Block Inc. The San Francisco-based company said Wednesday it's making the change because the Square name has become synonymous with the companys commerce and payments business. But it has grown since its start in 2009 and now owns the Tidal music streaming service, Cash App and TBD54566975, a financial services platform whose primary focus is Bitcoin. The move comes just two days after Dorsey resigned as CEO of Twitter. He's still CEO of the newly named Block. The company said the name change to Block distinguishes the corporate entity from its businesses, or building blocks. It said there will be no organizational changes as a result of the name change. The name has many associated meanings for the company building blocks, neighborhood blocks and their local businesses, communities coming together at block parties full of music, a blockchain, a section of code, and obstacles to overcome," Block said. || Bitcoin Miner TeraWulf Raises $200M in Debt and Equity: TeraWulf an environmentally minded bitcoin mining company raised $200 million in debt and equity financing from institutional and individual investors, the company announced Thursday. TeraWulfs ability to raise private capital underscores the attractiveness of bringing a new paradigm for cryptocurrency mining to the public markets, CEO Paul Prager said in a statement. The miner, which expects to mine bitcoin powered by nuclear, hydro and solar energy, will use the funding to achieve mining power of 6 exahash per second by the second half of 2022. The financing includes about $123.5 million in a three-year, senior secured term loan and subscription agreements with investors to purchase newly issued shares of the companys common stock for about $76.5 million. Investment bank Moelis acted as an exclusive placement agent for TeraWulfs debt and equity financing. In June, TeraWulf said that it will merge with Nasdaq-listed Ikonics (IKNX) to go public and trade under the symbol WULF. The miner said on Thursday that the deal is expected to be completed during the week of Dec. 13. Read more: Bitcoin Miner TeraWulf to Merge With Nasdaq-Listed Ikonics
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 47588.86, 46444.71, 47178.12, 46306.45, 47686.81, 47345.22, 46458.12, 45897.57, 43569.00, 43160.93
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2017-05-18]
BTC Price: 1888.65, BTC RSI: 75.10
Gold Price: 1251.70, Gold RSI: 54.00
Oil Price: 49.35, Oil RSI: 53.61
[Random Sample of News (last 60 days)]
Bitcoin Unlimited Futures Used to Extinguish Debt of Leading Bitcoin Public Company: VANCOUVER, BC / ACCESSWIRE / April 6, 2017 / First Bitcoin Capital Corp (OTC PINK: BITCF), in a related party transaction paid off approximately $200,000 in debt utilizing Bitcoin Unlimited Futures, making the Company 100% debt free. Bitcoin Unlimited Futures is one of the latest cryptographic creations of the company and rides on the rails of the Bitcoin Blockchain. Released by the Company as a means of allowing speculators to predict the outcome of the forthcoming hard fork of Bitcoin Core into two distinct assets, Bitcoin Unlimited Futures trades under the symbols XBU on the decentralized OMNIDEX and the Company's subsidiary, COINQX.com as well as XB on the CCEX.com exchanges. XBU or XB is not to be confused with competing efforts to presale actual Bitcoin Unlimited (BTU) prior to the hard fork, whereas in the case of XBU/XB our coin will not become BTU, instead, it will trade independently as a third currency. There is no relation of XBU or XB to the actual Bitcoin other than that it was created on and moves along the rails of the Bitcoin Blockchain using the Omni Layer Protocols. BTU is trading at about half of the trading value of XBU/XB. Efforts by two competing exchanges to capitalize on the pending hard fork can be found here: http://coinmarketcap.com/currencies/bitcoin-unlimited/ Due to the ephemeral nature of XBU/XB, the Company's creditor agreed to accept XBU at a discount from current illiquid market rates so that the company has paid 2,000 XBU/XT to settle this related party debt from its growing inventory of altcoins. "Becoming debt free not only strengthens our balance sheet but is an important milestone for a development stage company which positions the company for a more rapid path to profitability." The company is also conducting its first ICO (Initial Coin Offering) which is actively offered at a bonus to "early bird" participants. In order to participate in the company's recently announced AltCoin ICO, kindly review further details at http://www.AltCoinMarketCap.com 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 is developing several cryptocurrency related businesses and 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. www.bitcannpay.com Open Loop merchant services for dispensaries. List of Omni protocol coins issued on the Bitcoin Blockchain owned by the Company: http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS Follow us on Twitter @First_Bitcoin $BITCF About BITCOIN UNLIMITED The Bitcoin Unlimited (BU) project seeks to provide a voice to all stakeholders in the Bitcoin ecosystem. Every node operator or miner can currently choose their own block size limit by modifying their client. Bitcoin Unlimited makes the process easier by providing a configurable option for the accepted and generated block size via a GUI menu. Bitcoin Unlimited further provides a user-configurable failsafe setting allowing you to accept a block larger than your maximum accepted block size if it reaches a certain number of blocks deep in the chain. By moving the block size limit from the protocol layer to the transport layer, Bitcoin Unlimited removes the only point of central control in the Bitcoin economy - the block size limit - and returns it to the nodes and the miners. An emergent consensus will thus arise based on free-market economics as the nodes/miners converge on consensus focal points, creating in the process a living, breathing entity that responds to changing real-world conditions in a free and decentralized manner. This approach is supported by the evidence accumulated over the past six years. The miners and node operators have until now been free to choose a soft limit which, as demand grew, has always been increased in a responsive and organic manner to meet the needs of the market. We expect miners to continue in this tested and proven free-market way by, for instance, coordinating to set a new generated block size limit of 2MB and reject any blocks larger than 2MB unless they reach 4 blocks deep in the longest chain. As demand increases, the limit can easily be increased to 3MB, 4MB, and so on, thus removing central control over the process of finding the equilibrium block size by allowing the free market to arrive at the correct choice in a decentralized fashion. As a foundational principle, we assert that Bitcoin is and should be whatever its users define by the code they run, and the rules they vote for with their hash power. Bitcoin Unlimited seeks to remove existing practical barriers to stakeholders expressing their views in these ways. For more information, please visit www.bitcoinunlimited.info 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 [email protected] or visit http://www.bitcoincapitalcorp.com SOURCE: First Bitcoin Capital Corp. || Monday Hot Reads: How To Tell If Your Mutual Fund Is Dying: Compiled by ETF.com Staff
How To Tell If Your Mutual Fund Is Dying(LA Times)As many investors pull money from actively managed stock mutual funds, shareholders who stay put may face special risks.
Would You Buy An ETF Without Knowing What’s In It?(Bloomberg Businessweek)Precidian will be competing with Eaton Vance on the level of nontransparent active exchange-traded vehicles.
A Once-Hot ETF Now Looks Pricey(Benzinga)VanEck'sSLXsteel ETF is looking expensive after a recent surge.
Building A Better Bond ETF(Barron’s)Bond indexes are problematic, making ETFs based on them problematic. Here's how to improve performance.
The Anti-Bitcoin ETF(Wall Street Journal)Diversified currency funds provide a contrast to proposed—and so far rejected—bitcoin ETFs.
ETFs Claiming Larger Share Of Invested Assets(Chicago Tribune)Asset gathering pace is picking up steam, and that’s even more impressive if you consider 401(k)s still largely don’t offer ETFs.
5 High Yield ETFs Of CEFs For Tactical Income Investors(FMD Capital Management)A rundown of the differences between five ETFs that invest in closed-end funds.
Investors Check In To This ETF, But Don’t Want To Leave(WSJ)BlackRock’s iShares Core MSCI Emerging Markets ETFIEMGhas never had a day of net redemptions.
A Foreign Threat To US Treasuries That Dwarfs Fed's Debt Hoard(Bloomberg)There’s an even bigger debt pile that could draw buyers away from Treasuries at just the wrong time.
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Permalink| © Copyright 2017ETF.com.All rights reserved || Bitcoin/Dollar Hits All-time High, CNH/JPY Eyes Key Resistance: DailyFX.com -
Talking Points：
-Bitcoin against the U.S. Dollar soared to a new all-time high, driven by Japanese purchases.
- The CNH/JPY rose back to below the yearly open range low; Chinese Caixin PMI prints could add momentums.
-Read DailyFX latest trading guides fortheoutlookof the Japanese Yen in the second quarter.
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Bitcoin
Bitcoin against the U.S. Dollar set a new all-time highon Tuesday, touching 1481.73. This is mostly driven by the increasing demand in Japan according to bitcoinity.
After the Chinese regulator started to crack down illegal transactions through Chinese Bitcoin trading platforms, the ratio of Bitcoin trading volume in China to the world hasdropped to 20% in Marchfrom more than 90% previously. Then, Japan, overtaking China, becomes the largest Bitcoin trading country by volume.
From a technical point of view, the BTC/USD is currently right below a key resistance level, the top line of a parallel. Traders will want to be aware of a likely retracement around this level.
BTC/USD1-day
Prepared by Renee Mu.
CNH/JPY
The offshore Yuan against the Japanese Yen also approaches to a major resistance level. In the mid-March, the pair broke below the open range low of 16.31 and now is back to around this level.
CNH/JPY 1-day
Prepared by Renee Mu.
In the coming session, China will release the Caixin PMI prints for April. If those gauges come in to be better than expected, they may add momentum to the CNH/JPY and increase the odds of a breakout.
See the fullDailyFX Economic Calendar
YuanIndexes
- As of last Friday, the Chinese Yuan (CNY) has been losing to a basket of currencies for the third week, measured by both the CFETS Yuan Index and the BIS Yuan Index; it has beenfalling for the second week, measured by the SDR Yuan Index. In specific, the primary gauge for Yuan’s value to a basket of currencies, CFETS Yuan Index, has dropped to the lowest level since it was quoted in 2015, to 92.98 last Friday.
Data downloaded from Bloomberg; chart prepared by Renee Mu.
Market News
Sina News: China’s most important online media source, similar to CNN in the US. They also own a Chinese version of Twitter, called Weibo, with around 200 million active usersmonthly.
Chinese steel producers showed improved performance in the first quarter. 33 out of 36 steel companies that have released first-quarter annual reports revealed positive earnings in the first three months. The total profits of these listing steel companies soared to more than 11.0 billion yuan compared to a loss of -4.0 billion yuan in the first quarter last year.
- China’s State-owned Assets Supervision and Administration Commission hosted a conference, requiring steel and coal firms to cut excessive production. The annual target for steel companies in 2017 is to reduce 5.95 million tons of capacity; the target for coal companies is to cut 24.93 million tons of capacity. Amid the pressure on achieving these goals, the profits of Chinese steel and coal producers could drop again.
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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 fromIG. || A Wall Street bear warns 'bad things are about to happen,' and a recession is on the way: Investor David Tice is going deeper into bear territory, predicting that the economy is months away from a deep correction that will send stocks down by as much as 50 percent. Tice is known for his tenure as manager of the Prudent Bear Fund. He sold the fund, which depends on market pullbacks for profits, to Federated Investors just as the financial crisis was unfolding in 2008. Since the acquisition, he's been involved in private equity, film producing and charities. But he's planning his emergence from hibernation to capitalize on the potential downturn. "The market has tended to go down about every seven years. It went down in 1987, 1994, 2001 and 2008," Tice told CNBC's " Trading Nation " on Friday. "During these periods after the declines, it rallies like crazy. But now bad things are about to happen again." He sold his bear fund (NASDAQ: BEARX) when it had $1.2 billion in assets under management. According to Morningstar, it has just $254.7 million right now under Federated's leadership. CNBC reached out to Federated for a comment. The steep losses could just be a stark reminder of the nature of the stock market rebound. The S&P 500 (INDEX: .SPX) Index rebounded 92 percent since the financial crisis hit in September 2008. "The catalyst is we're 93 months into an economic recovery. We have the [Federal Reserve] starting to tighten. We have banks actually starting to tighten," he said. Tice pointed out the economy is not doing very well, with the gross domestic product growing by an anemic 0.7 percent in the first quarter. 'The bears are always early'—but they're not always right Tice's timing in selling the Prudent Bear Fund may have been pretty good, but his calls on a pullback haven't materialized. He's calling for a 30 to 50 percent S&P pullback over the next six to 10 months. He also made that prediction in 2012 and 2014. It never happened. Story continues "The bears are always early. I've certainly always been early," said Tice. "Policymakers end up doing what they think is right in order to kick the can down the road. However, now we have so many issues." If there is a correction, Tice says there are two protection plays investors should consider. Gold, which is down more than 6 percent over the past three years, is one of them. "You should own gold (Exchange: @GC.1.S) stocks... They're still priced very, very well compared to the bullion," he said. Tice says bitcoin (Exchange: BTC=-USS) makes a lot of sense, too. Unlike the bearish activity in gold, bitcoin has soared 253 percent since 2014. "It's been looked on as a fraud, as a fad, etc.," added Tice. "It truly is a competitor to debased currency. And it makes a lot of sense just from a transactional basis." Also From CNBC Watch The Profit on Yahoo View , available now on iOS and Android . More From CNBC || Now I Get It: Bitcoin: Man, if anything needs the “now I get it” treatment, it’sBitcoin. You hear about it all the time infinancial and technical circles—but most people really don’t grasp it.
Bitcoin is an alternative kind of currency. It’s entirely digital—there’s no paper money, there’s no coins, nothing physical, not even a plastic card for your wallet. Your bitcoins are stored on your computer or your phone. If your hard drive crashes without a backup, you lose your bitcoins.
This arrangement has some stunning advantages over traditional currency or credit cards:
• Between buyer and seller, there’s no bank or credit-card company involved, no middleman who can charge fees. The entire Bitcoin banking system is a global peer-to-peer network, running Bitcoin software.
• When you buy something from someone in another country, there’s no waiting to convert currencies—and again, no fees.
• All transactions areessentiallyanonymous, which is super convenient if you’re a drug dealer or arms dealer.
There’s a whole lot of really cool, really complicated math involved in Bitcoin, designed to keep it secure and to prevent Bitcoin inflation.
For example: the complete record of all Bitcoin transactions—a massive digital ledger called theblockchain—is stored on all Bitcoin users’ computers, rather than being held by a central authority.
Bitcoin was born in 2009, the proposal of an anonymously written white paper. There’s no government to decide when to print new money in this case, so new bitcoins are “mined”—created—through a complex scheme you can read abouthere. In essence, anyone can create new bitcoins, but don’t think you’ll get rich that way. The job requires massive, expensive, high-horsepower computers that must slog through gigantic calculations to “mine” new money. The complexity of the math involved is adjusted so that it’s just barely profitable to mine bitcoins, and so that only a few bitcoins come into existence every 10 minutes.
This production will stop when there are 21 million bitcoins on earth, which is supposed tohappen around 2140. After that—that’s all the bitcoins there’ll ever be.
So how do you get bitcoins? Same way you get euros or yen or pesos: You buy it with traditional currency like dollars. You can use online exchanges likeBitstampandCoinbase. At this writing, one bitcoin costs about $1,078.
When you get a Bitcoin address—something like an email address—you also get a complex password known as a private key, which you need to access your stash.
At that point, you can transfer money to other people by sending it to their Bitcoin addresses.
You can also pay for goods and services at some merchants, like Subway and Xbox; they’re delighted when that happens, because they don’t lose 3% of the transaction in credit-card fees. But in the big picture,the list of places that accept Bitcoinis fairly small. Andyoudon’t get any particular benefit by paying for something this way.
The good news is that since Bitcoin’s creation eight years ago, its value has gone up by quite a bit—from well under a penny to over $1,000 per bitcoin today.
The bad news is that its value is incredibly volatile. Remember this past January,when it dropped by a fifthin a day? Good times.
So: Bitcoin is fascinating, but it’s not very useful, at least not to most people. Some people love it, for sure, like investors with a taste for risk, tech-savvy early adopters, technically-minded libertarians, and criminals.
But keep in mind that there are lots of exciting ways to lose all your bitcoins. Like if your hard drive crashes without a backup, and you lose your private key. Or if you get a Bitcoin virus, of whichthere are now many. Or if your Bitcoin exchange goes out of business, which has happened plenty; in fact,18 of the first 40 exchanges had gone underas of 2013, taking all their clients’ money with them.
Remember, this whole thing is largely unregulated. If you buy something with a credit card and you get ripped off, you can call an 800 number and the credit-card company will get your money back. But if you get ripped off with a Bitcoin transaction … sorry! You voted for no middleman, remember?
In the meantime, for most people, Bitcoin is a fascinating development that’s a worthy topic of study—just not for ownership.
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Here’s the real money-maker for the Internet of Things
David Pogue, tech columnist for Yahoo Finance, welcomes non-toxic comments in the Comments below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s [email protected]. You canread all his articles here, or you can sign up toget his columns by email. || Your first trade for Wednesday, April 26: The " Fast Money " traders shared their first moves for the market open. Tim Seymour was a buyer of the iShares MSCI Europe Financials ETF (NASDAQ: EUFN) . Brian Kelly was a buyer of Freeport-McMoRan (NYSE: FCX) . Steve Grasso was a buyer of Square (NYSE: SQ) . Guy Adami was a buyer of Juno Therapeutics (NASDAQ: JUNO) . Trader disclosure: On April 25, 2017, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Tim Seymour is long ABX, AAPL, APC, AVP, BAC, BBRY, C, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD, MOS, 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. Brian Kelly is long Bitcoin, FCX, GE, GDX, HLF, IWM, TLT, TSLA, WMT. Steve Grasso's firm is long stock AON, BX, CUBA, DIA, F, HES, ICE, KDUS, MAT, MFIN, MJNA, MSFT, NE, RIG, SNAP, SPY, SQBG, TITXF, UA, WDR, WPX, ZNGA. Grasso is long stock BABA, CHK, EEM, EVGN, GDX, KBH, MJNA, MO, MON, OLN, PHM, SQ, T, TWTR, VRX. Grasso's kids own EFA, EFG, EWJ, IJR, SPY. No Shorts. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Which stocks to buy as earnings season heats up Your first trade for Tuesday, April 25 Traders discuss strategy as US equities rally after French elections || A.I. is in a ‘golden age’ and solving problems that were once sci-fi, Amazon CEO Jeff Bezos says: Artificial intelligence development has seen an "amazing renaissance" and is beginning to solve problems that were once seen as science fiction, according to Amazon ( AMZN ) CEO Jeff Bezos. Machine learning, machine vision, and natural language processing are all strands of AI that are being developed by technology giants such as Amazon, Alphabet's ( GOOGL ) Google and Facebook ( FB ) for various uses. For example, Amazon's voice assistant Alexa, which is in its Echo speaker, relies on natural language processing – the ability for computers to understand human speech. These AI developments were praised by the Amazon founder. "It is a renaissance, it is a golden age," Bezos told an audience at the Internet Association's annual gala last week. "We are now solving problems with machine learning and artificial intelligence that were … in the realm of science fiction for the last several decades. And natural language understanding, machine vision problems, it really is an amazing renaissance." Bezos called AI an "enabling layer" that will "improve every business." At Amazon, Bezos said that "cool" developments like Alexa and its Prime Air delivery drones use "tremendous amounts" of AI. But machine learning is being deployed across the company. "I would say, a lot of the value that we're getting from machine learning is actually happening kind of beneath the surface. It is things like improved search results, improved product recommendations for customers, improved forecasting for inventory management, and literally hundreds of other things beneath the surface," Bezos said. The Amazon CEO also said that the company is making AI techniques available to enterprise customers through its cloud division, Amazon Web Services. Bezos is the latest tech chief executive to address the topic of AI. He did not go into some of the dangers of the technology as many of his counterparts have. For example, Jack Ma, CEO of Chinese e-commerce giant Alibaba ( BABA ) , warned that society could face decades of "pain" due to technological advancements. More From CNBC Bitcoin hits another record high and could rally to $4,000, investor says Amazon CEO Jeff Bezos has a good idea of quarterly results 3 years before they happen Stephen Hawking says humans must colonize another planet in 100 years or face extinction || This is where traders are putting money to work in the retail sector: The"Fast Money"traders weighed different plays on the retail sector for investors who are itching to get into the market.
Trader Guy Adami said he likes F5 Networks(NASDAQ: FFIV), but turned his nose up at Nike(NYSE: NKE). Adami said he would wait until the company reports earnings Tuesday, but he expects a move lower for the stock. Nike's stock is up 13 percent in the last three months.
Trader Tim Seymour said he likes PayPal(NASDAQ: PYPL)and Nike. He said he likes Nike because the company is starting to take back North American market share from Adidas(XETRA: ADS-DE).
Trader Brian Kelly said he also likes PayPal because it is growing and innovating in the payment space, especially with its acquisition of mobile app Venmo.
Trader Steve Grasso agreed and said he also likes PayPal. He said he also likes Nike because the company "has benefited from the implosion of Under Armour.(NYSE: UAA)" Under Armour's stock is down nearly 35 percent in the last three months.
Disclosures:
Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck.
Steven Grasso's firm is long AON, APC, CUBA, DIA, HES, ICE, KDUS, MAT, MFIN, MJNA, MSFT, NE, RIG, SNAP, SPY, SQBG, TITXF, VRX, WDR, WPX, ZNGA. Steven Grasso is long CHK, EEM, EVGN, GDX, KBH, MJNA, MON, MU, OLN, PFE, PHM, T, TWTR, VRX. Grasso's children own: EFA, EFG, EWJ, IJR, SPY. No Shorts.
Brian Kelly is long Bitcoin, XBI, DXJ, TBT, DXY, FXI Short: Yen, US Treasury Bonds.
Tim Seymour is long ABX, AAPL, APC, AVP, BAC, BBRY, C, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD, MOS, 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
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• A troubling sign in the market || Jamaican Shamique Simms Is the New Caribbean's Next Top Model: MIAMI, FL--(Marketwired - Apr 4, 2017) - Shamique Simms is theCaribbean's Next Top Model(CaribeNTM) 2017. The finale of CaribeNTM took place on Monday April 3rdand this year's competition ended in dramatic fashion, as two contestants tied for second place -- Samantha West from Trinidad and Nkechi Vaughn Guyana.
It was, however, the 5 foot 9 Jamaican who won the judges over with her grace and natural beauty, as well as her ability to work the camera no matter the setting or theme. This season's competition was held against the backdrop of the enchanting 'spice isle' of Grenada, and whether she was covering herself with oil for the infamous 'jab jab' shootor getting artistic in anunderwater shoot, Simms' versatility and raw modelling talent led her to the top position.
Along with the title of being the Caribbean's Next Top Model, Shamique was also awarded US$25,000 in cash; an international modelling agency contract with Mint Model Management, NY; a cover feature and editorial spread in SHE Caribbean magazine; and the latest generation iPhone fromFlow.
"Flow congratulates Shamique on her much deserved big win," said Wendy McDonald, Senior Director Communications, for the Caribbean. "Last year we welcomed the opportunity to partner with CaribeNTM as we saw this as a unique platform to provide exposure of young Caribbean talent both in front of and behind the camera. For us this is not just a competition but it is an investment in the development of the Caribbean fashion industry and our capacity to create local content that is on par with international standards. Additionally, it provides our viewers with unmatched access to local and regional content."
The third season of The Caribbean's Next Top Model, presented byFlow, premiered on January 30thexclusively onFlow 1with 17 fresh-faced ladies from all across the Caribbean. This season, Flow customers were able to watch the drama unfold 'on the go' for the first time via theFlow ToGoapp or watch and re-watch any episode viaFlow On Demand, ensuring they never missed a moment of the excitement.
Congratulating the winner, as well as each of the participants, the CaribeNTM co- executive producer, host, judge and former Miss Universe Wendy Fitzwilliam said: "Shamique competed amongst our toughest field of aspiring models yet, and always maintained her focus throughout the competition. More than any other participant, Shamique entered the competition with a clear understanding of what is required of her in the modelling industry. She consistently grew throughout the competition and it is this combination of preparedness and dogmatic perseverance with respect to her diet, fitness, mental strength and positive outlook that gave this "chocolate" beauty, as she was fondly called by her fellow models, the edge."
While there is only one winner, Flow would like to congratulate all the participants and finalists of Season 3 of the Caribbean's Next Top Model.
Editors' Note:
Caribbean's Next Top Model (#CaribeNTM) is produced Starfish Media Ltd. and hosted by Miss Universe 1998,Wendy Fitzwilliam. Itis a reality television competition based on the original production America's Next Top Model, and the America's Next Top Model format, created by Tyra Banks and licensed by CBS International. It follows the stories of aspiring young women seeking to launch a career in the competitive world of modelling. Fitzwilliam hosts Caribbean's Next Top Model as head judge, accompanied by judges: international photographer,Pedro Virgiland Caribbean fashion pundit extraordinaire,Socrates McKinney. For Season 3, CaribeNTM combed more than 30 Caribbean territories and narrowed more than two hundred (200) applicants down to seventeen (17).
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) and (NASDAQ:LILAK) (OTC PINK:LILAB), which consists of our operations in Latin America and the Caribbean.
The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets.
For more information, please visitwww.libertyglobal.com.
Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3126367Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3126384 || Bitcoin is roaring back: Bitcoin is higher for a second straight day on Tuesday, trading up 6.5% at $1,110 a coin as of 2:13 p.m. ET. The cryptocurrency has rallied about 17% since Sunday's low, rebounding from a slump over the weekend that followed a Wall Street Journal report that the cryptocurrency's developers were threatening to set up a " hard fork ," or alternative marketplace for bitcoin. The new platform would be incompatible with the current platform, thus creating a split and two versions of the currency. That news sent bitcoin crashing 20% over the weekend to about $950 a coin, its weakest since January. Bitcoin (Investing.com) 2017 has been a volatile year for the cryptocurrency. It gained 20% in the first week of the year after soaring 120% in 2016 to become the top-performing currency for the second year in a row. Bitcoin then crashed 35% on news that China was going to consider clamping down on trading. But it managed to rip higher by more than 50% even in the face of several pieces of bad news. First, China's biggest bitcoin exchanges said they were going to start charging a 0.2% fee on all transactions (previously there was no fee). Then, China's biggest exchanges said they were going to block withdrawals from trading accounts. Still, bitcoin put in a record high of $1,327 a coin on March 10 as traders piled in ahead of the US Securities and Exchange Commission's ruling on the Winklevoss twins' bitcoin exchange-traded fund . The SEC denied the ETF, sending the price crashing by 16%. Bitcoin, however, managed to quickly recover those losses. Two more SEC rulings are on the way, the next being March 30. Neither one is expected to pass. NOW WATCH: 7 mega-billionaires who made a fortune last year More From Business Insider I've written about a bunch of great watches, but this is the one I wear to work every day here's why Bitcoin just crashed 20% as the developers fight over its future Bitcoin could be on the edge of a cliff
[Random Sample of Social Media Buzz (last 60 days)]
ETH Price:
1 ETH = $44.00 USD
-1.61% ⇩ last 24h.
1 ETH = 0.036299 BTC
-3.58% ⇩ last 24h. || Price Alert: Stellar 9.00% 1h change $XLM - Current Price: 0.000017620 BTC | More #XLM Info http://crypto.press/coins/XLM-Stellar … #CryptoPress || 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/LSgIDgvpmK || $1325.19 at 11:00 UTC [24h Range: $1299.00 - $1340.00 Volume: 7102 BTC] || Current price of Bitcoin is $1175.00. || #Bitcoin -0.00%
Ultima: R$ 3877.62 Alta: R$ 3878.36 Baixa: R$ 3821.04
Fonte: Foxbit || $1237.84 at 08:15 UTC [24h Range: $1199.00 - $1248.99 Volume: 4664 BTC] || $1724.07 at 23:45 UTC [24h Range: $1682.56 - $1784.00 Volume: 13154 BTC] || One Bitcoin now worth $1599.99@bitstamp. High $1607.00. Low $1525.02. Market Cap $26.107 Billion #bitcoin || Comprei bitcoin na cotação de 2500 reais em janeiro , hj bateu a marca de 4283,00.
Pergunta se estou feliz? — se sentindo satisfeito
|
Trend: up || Prices: 1987.71, 2084.73, 2041.20, 2173.40, 2320.42, 2443.64, 2304.98, 2202.42, 2038.87, 2155.80
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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 2022-02-22]
BTC Price: 38286.03, BTC RSI: 40.35
Gold Price: 1906.10, Gold RSI: 70.95
Oil Price: 92.35, Oil RSI: 60.28
[Random Sample of News (last 60 days)]
Here's why experts say the crypto market will be just fine despite a possible Russian ban on everything from mining to trading: • When the central bank of Russia proposed a sweeping ban Thursday on crypto activity, digital assets barely skipped a beat.
• Bitcoin even rose around 5% at one point during New York trading hours.
• "There are bigger concerns right now in crypto right now," Chris Vecchio of DailyFX told Insider.
• Sign up here for our daily newsletter, 10 Things Before the Opening Bell.
When the central bank of Russia proposed a sweeping ban on cryptocurrency activity on Thursday, digital assets barely skipped a beat.
Bitcoin even rose around 5% at one point during New York trading hours.
"There are bigger concerns right now in crypto," Chris Vecchio, senior strategist at foreign exchange firm DailyFX, told Insider. "What's happening is much more closely tied to global stimulus conditions and central banks pulling back their pandemic era efforts. That, to me, is the prevailing story here."
The news out of Moscow came amid a rout in US equities as investors continued to fret about a hawkishFederal Reserveand high inflation.
Vecchio said bitcoin's movement was divorced from Russia, highlighting how the crypto market over the past several months has been moving in conjunction with US equities, particularly high-growth, low-profit tech stocks.
That dynamic was on display Friday, whenbitcoinplunged as much as 10% to a six-month low below $38,000 as investors continued to sell crypto and speculative technology stocks in anticipation of the Fed hiking benchmark rates later this year.
In explaining bitcoin's muted reaction to the threat from Russia, some experts also pointed to China'saggressive crackdownagainst crypto last year that prompted a massive selloff across tokens.
"Who cares?" Alex Lemberg, CEO of Nimbus, a decentralized financial platform, told Insider. "When the biggest guy in the classroom punches you in the face, you're not really worried about the smaller guys."
It was China's ban that truly stunned the industry, he said. The Asian superpower, after all, was the world's biggest bitcoin mining nation at the time, according todatafrom the Cambridge Centre for Alternative Finance. (Russia, in contrast, only ranks as third.)
But following Beijing's pronouncement, miners quickly migrated to the US, which is now the world'stop mining nationwith a third of the global hash rate. China's global hash rate, meanwhile, plunged to zero from 44% in that time. Hash rate is a key measure of how much computing power is required to support the network and to create bitcoin.
"I think Russia banning crypto is not a big deal in the long term, as other countries, who are more accepting of digital assets, will benefit from Russia's move," Marcus Sotiriou, analyst at digital asset broker GlobalBlock, told Insider. "Miners will potentially relocate if they have to, so this ultimately means that miners in welcoming jurisdictions will profit."
The bitcoin hash rate onFridayhit an all-time high, suggesting a full recovery from the China crackdown. And should Russia implement its own ban, the network is expected to stage a similar rebound.
Russia on Thursday published a report that warned the speculative nature of digital assets has led to a bubble. The central bank proposed three amendments to the nation's existing regulations: ban crypto as a means of payment for goods, ban the organization and issuance of crypto, and ban financial institutions from investing in crypto.
"These are suggestions to lawmakers and not tied to any tangible outcome, and the market has learned how to read these statements in terms of real-world impact, rather than panicking," John Wu, president of Ava Labs, the team behind the altcoin avalanche, told Insider. "The blockchain ecosystem continues to show its maturation compared to years past, when these statements had a significant impact."
Read the original article onBusiness Insider || Bitcoin Renaissance Likely in H2: Babel Finance: Battered bitcoin may take cues from growth stocks and chalk up a new bull run in the second half of the year.
"After the market adjusts to the pace of the Fed's rate hike, growth stocks and bitcoin will resume their upward trend, that is we will see a strong performance of both in the second half of 2022," researcher at crypto financial services provider Babel Finance, Robbie Liu told CoinDesk in an email.
"Historically, per Goldman Sachs, growth stocks have been the worst-performing sector in the three months before and after the first rate hike," Liu added while noting the cryptocurrency's tight correlation with the growth-sensitive legacy risk assets. Bitcoin's correlation with the U.S. stocks recently hit a record high of over 0.75,according todata analytics firm IntoTheBlock.
Liu's data-backed view contradicts the budding narrative in the crypto community that bitcoin may begin rallying right after the expected March rate hike by the U.S. Federal Reserve's (Fed).
The market expectation likely stems from two things: The cryptocurrency has tanked 40% in three months, predominantly due to Fed rate hike fears. Secondly, as Friday'sFirst Mover Americas noted, the U.S. dollar tends to top out with the first rate hike. A weak dollar is generally considered bullish for bitcoin.
However, growth stocks suggest otherwise. "Given the current strong correlation between bitcoin and growth stocks, especially the synchronized downward trend of the two assets since December, we believe it may be difficult for bitcoin to move upward direction in the three months following the first rate hike," Liu noted.
The table shows value stocks tend to outperform growth stocks three months before and after the Fed kicks off rate hike cycle. Value stocks are companies that are currently trading below their intrinsic value and are typically established companies. Growth stocks newer industries with high growth projections and trade at relatively expensive prices.
While bitcoin may be viewed as digital gold by some in the crypto community, it is also an emerging technology sensitive to centralized liquidity flow.
Per Reuters, several Wall Street banks expect the U.S. Federal Reserve (Fed) to kick off the tightening cycle with at least a 25 basis point rate rise in March followed by six quarter percentage point hikes by the year-end.
Bitcoin was last seen trading near $39,100, representing a nearly 2% gain on the day. The cryptocurrency seems to have picked up a bid with the European and U.S. stock futureson reportsof a potential summit on Ukraine between U.S. President Joe Biden and his Russian counterpart Vladimir Putin. || PrairieView Partners, LLC Buys iShares Short-Term National Muni Bond ETF, Avantis Core ...: Investment companyPrairieView Partners, LLC(Current Portfolio) buys iShares Short-Term National Muni Bond ETF, Avantis Core Municipal Fixed Income ETF, Avantis U.S. Equity ETF, Schwab Short-Term U.S. Treasury ETF, BTC iShares Core MSCI EAFE ETF, sells Fastenal Co, International Business Machines Corp, PIMCO 1-5 Year U.S. TIPS Index Exchange-Traded Fun, Unilever PLC, Pinterest Inc during the 3-months ended 2021Q4, according to the most recent filings of the investment company, PrairieView Partners, LLC. As of 2021Q4, PrairieView Partners, LLC owns 436 stocks with a total value of $718 million. These are the details of the buys and sells.
• New Purchases:AVGO, BX, NULV, BJ, CCI, DLR, AZN, GRMN, CONE, NEP, SIMO, VMC, AWI, AZO, RCM, HZNP, ABBV, ICLR, TNET, KEYS, BOX, BGRN, ESGD, AKAM, BDX, HUM, LRCX, MMC, MOH, NDAQ, VIAC, SBAC, PCYO, BLK, COIN, FLOW, MNDT, COO, FULC, PTON, BITO, IAC, UWMC, UWMC, KD, ARKG, ARKW, ARKX, EPD, EXAS, TMST, SRE, MTCH, ENPH, VSTM, FLT, ALB, NUE, VMW, ON, WBA, X, TKR, SPXC,
• Added Positions:SUB, AVDE, VTI, AVEM, BSV, VTV, BNDX, VCSH, AVMU, AVDV, AVUS, SCHC, VEA, VSS, DLS, AVUV, VGIT, VB, SCHO, AAPL, VWO, IEFA, IEMG, EFV, IAGG, VTEB, SCHR, IWM, CAT, SUSB, UNH, SLQD, JNJ, SCHF, STX, EEM, SPY, ESGE, ESML, ABT, AVTR, FB, GOOGL, THG, SHW, SBUX, TMO, COST, UPS, CMCSA, ZBRA, TSLA, PEP, BRK.B, AMAT, ADBE, MSFT, SPGI, MCD, COP, JPM, HD, GE, GXC, CSCO, BWA, VNQ, VTIP, ANF, T, SPSC, CARR, OTIS, SNOW, FSR, AGG, ARKF, ARKK, GM, MDLZ, VZ, BLOK, TTC, QCOM, EMB, PSEC, PNW, NVDA,
• Reduced Positions:SHM, SCHE, MMM, FAST, ITOT, VBR, SCHB, SCHV, IBM, DTH, PG, VV, DSI, XEL, FNDA, FNDF, UL, USB, SWKS, ECL, PFE, STPZ, IJR, SPTI, SDY, SLY, SLYV, SPDW, SPIB, BND, VGK, VGSH, VONV, VOO, VYM, IWF, LCID, GTX, PM, DAL, WWD, WFC, DIS, JWN, VTRS, TELL, MDU, F, XOM, KO, CVX,
• Sold Out:DHR, LIN, TROW, PINS, ATO, TAP, NUAN, PIPR, SGMO, RIG, EDU, CRNC,
• Warning! GuruFocus has detected 3 Warning Sign with C. Click here to check it out.
• SUB 15-Year Financial Data
• The intrinsic value of SUB
• Peter Lynch Chart of SUB
For the details of PrairieView Partners, LLC's stock buys and sells,go tohttps://www.gurufocus.com/guru/prairieview+partners%2C+llc/current-portfolio/portfolio
These are the top 5 holdings of PrairieView Partners, LLC
1. Vanguard Total Stock Market ETF (VTI) - 445,938 shares, 15.00% of the total portfolio. Shares added by 1.61%
2. Vanguard Value ETF (VTV) - 556,663 shares, 11.41% of the total portfolio. Shares added by 1.68%
3. Vanguard Short-Term Bond ETF (BSV) - 592,502 shares, 6.67% of the total portfolio. Shares added by 3.30%
4. Vanguard Short-Term Corporate Bond ETF (VCSH) - 559,788 shares, 6.34% of the total portfolio. Shares added by 2.03%
5. Avantis International Equity ETF (AVDE) - 660,907 shares, 5.84% of the total portfolio. Shares added by 6.07%
New Purchase: Blackstone Inc (BX)
PrairieView Partners, LLC initiated holding in Blackstone Inc. The purchase prices were between $110.95 and $148.88, with an estimated average price of $133.86. The stock is now traded at around $109.780000. The impact to a portfolio due to this purchase was 0.04%. The holding were 2,367 shares as of 2021-12-31.
New Purchase: Broadcom Inc (AVGO)
PrairieView Partners, 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 $533.230000. The impact to a portfolio due to this purchase was 0.04%. The holding were 403 shares as of 2021-12-31.
New Purchase: Nuveen ESG Large-Cap Value ETF (NULV)
PrairieView Partners, LLC initiated holding in Nuveen ESG Large-Cap Value ETF. The purchase prices were between $36.02 and $38.9, with an estimated average price of $37.59. The stock is now traded at around $37.340000. The impact to a portfolio due to this purchase was 0.03%. The holding were 6,400 shares as of 2021-12-31.
New Purchase: Garmin Ltd (GRMN)
PrairieView Partners, LLC initiated holding in Garmin Ltd. The purchase prices were between $129.31 and $165.15, with an estimated average price of $144.08. The stock is now traded at around $121.440000. The impact to a portfolio due to this purchase was 0.02%. The holding were 790 shares as of 2021-12-31.
New Purchase: CyrusOne Inc (CONE)
PrairieView Partners, LLC initiated holding in CyrusOne Inc. The purchase prices were between $75.25 and $90.23, with an estimated average price of $85.12. The stock is now traded at around $88.970000. The impact to a portfolio due to this purchase was 0.02%. The holding were 1,401 shares as of 2021-12-31.
New Purchase: AstraZeneca PLC (AZN)
PrairieView Partners, LLC initiated holding in AstraZeneca PLC. The purchase prices were between $54.02 and $63.83, with an estimated average price of $58.76. The stock is now traded at around $59.100000. The impact to a portfolio due to this purchase was 0.02%. The holding were 1,864 shares as of 2021-12-31.
Added: iShares Short-Term National Muni Bond ETF (SUB)
PrairieView Partners, LLC added to a holding in iShares Short-Term National Muni Bond ETF by 122.66%. The purchase prices were between $107.19 and $107.42, with an estimated average price of $107.31. The stock is now traded at around $106.590000. The impact to a portfolio due to this purchase was 0.34%. The holding were 41,564 shares as of 2021-12-31.
Added: Avantis Core Municipal Fixed Income ETF (AVMU)
PrairieView Partners, LLC added to a holding in Avantis Core Municipal Fixed Income ETF by 682.03%. The purchase prices were between $49.5 and $50.04, with an estimated average price of $49.8. The stock is now traded at around $49.345000. The impact to a portfolio due to this purchase was 0.13%. The holding were 22,147 shares as of 2021-12-31.
Added: Avantis U.S. Equity ETF (AVUS)
PrairieView Partners, LLC added to a holding in Avantis U.S. Equity ETF by 4698.14%. The purchase prices were between $73.64 and $80.53, with an estimated average price of $78.14. The stock is now traded at around $74.300000. The impact to a portfolio due to this purchase was 0.12%. The holding were 10,316 shares as of 2021-12-31.
Added: Schwab Short-Term U.S. Treasury ETF (SCHO)
PrairieView Partners, LLC added to a holding in Schwab Short-Term U.S. Treasury ETF by 33.03%. The purchase prices were between $50.82 and $51.16, with an estimated average price of $50.95. The stock is now traded at around $50.620000. The impact to a portfolio due to this purchase was 0.07%. The holding were 41,564 shares as of 2021-12-31.
Added: BTC iShares Core MSCI EAFE ETF (IEFA)
PrairieView Partners, LLC added to a holding in BTC iShares Core MSCI EAFE ETF by 31.47%. The purchase prices were between $71.13 and $76.32, with an estimated average price of $74.06. The stock is now traded at around $72.170000. The impact to a portfolio due to this purchase was 0.06%. The holding were 25,094 shares as of 2021-12-31.
Added: Schwab Intermediate-Term U.S. Treasury ETF (SCHR)
PrairieView Partners, LLC added to a holding in Schwab Intermediate-Term U.S. Treasury ETF by 34.40%. The purchase prices were between $55.73 and $56.61, with an estimated average price of $56.19. The stock is now traded at around $55.390000. The impact to a portfolio due to this purchase was 0.03%. The holding were 14,922 shares as of 2021-12-31.
Sold Out: T. Rowe Price Group Inc (TROW)
PrairieView Partners, LLC sold out a holding in T. Rowe Price Group Inc. The sale prices were between $188.5 and $221.29, with an estimated average price of $203.15.
Sold Out: Pinterest Inc (PINS)
PrairieView Partners, LLC sold out a holding in Pinterest Inc. The sale prices were between $34.93 and $62.68, with an estimated average price of $44.17.
Sold Out: Linde PLC (LIN)
PrairieView Partners, LLC sold out a holding in Linde PLC. The sale prices were between $294.65 and $346.43, with an estimated average price of $324.66.
Sold Out: Danaher Corp (DHR)
PrairieView Partners, LLC sold out a holding in Danaher Corp. The sale prices were between $292.08 and $329.01, with an estimated average price of $311.04.
Sold Out: Sangamo Therapeutics Inc (SGMO)
PrairieView Partners, LLC sold out a holding in Sangamo Therapeutics Inc. The sale prices were between $7.29 and $10.97, with an estimated average price of $8.68.
Sold Out: Atmos Energy Corp (ATO)
PrairieView Partners, LLC sold out a holding in Atmos Energy Corp. The sale prices were between $88.98 and $104.83, with an estimated average price of $95.
Here is the complete portfolio of PrairieView Partners, LLC. Also check out:1. PrairieView Partners, LLC's Undervalued Stocks2. PrairieView Partners, LLC's Top Growth Companies, and3. PrairieView Partners, LLC's High Yield stocks4. Stocks that PrairieView Partners, LLC keeps buyingThis article first appeared onGuruFocus. || China Xiangtai Agrees To Purchase Bitcoin Miners To Boost Hash Rate: • China Xiangtai Food Co Ltd(NASDAQ:PLIN) said its U.S. subsidiary,SonicHash LLC, has entered into sales and purchase agreementswith two global Bitcoin mining hardware suppliers to purchase 2200 Bitcoin miners for about $13 million.
• The company's new miners have hash rates of 92 and 98 TH/s and are expected to ramp up the total hash rate of the company's miner fleet by over 209 PH/s.
• The new miners are expected to be delivered to the company's mining facility site in the U.S. by April 30, 2022. Upon delivery, the company's mining operation will consist of 3,628 Bitcoin miners producing 341.2 PH/s when operating at full capacity.
• China Xiangtai expects to generate about $21.5 million in revenue and $13.5 million in cash contribution margin in the next 12 months.
• Price Action:PLIN shares are trading higher by 1.78% at $1.14 on the last check Monday.
See more from Benzinga
• China Xiangtai Food Raises ~M Via Equity Offering
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || South Korea’s Naver and Kakao Follow Binance Out of Singapore: It’s not only regulatory chatter that’s been on the rise in recent weeks. In spite of the holidays, regulators have been active at the turn of the year.
For crypto investors, the regulatory risk remains a key downside risk. A number of moves against platforms suggest that greater oversight is on the horizon.
To put it into perspective, South Korea’s Kakaotalk, more commonly referred to as KaTalk, overshadows the likes of LINE, WhatsApp, and Tiktok at home. KaTalk forms part of Kakao, a South Korean internet company with more than 10,000 employees and reported revenue of KRW4.16tn for FY2020.
Naver is no smaller. Launched in 1999, Naver was the first web portal with its own search engine.
In South Korea, Naver sits ahead of the likes of Google as the search engine of choice. Significantly, Naver also sits behind the globally popular mobile messenger app LINE.
In the world of decentralization, both have embraced blockchain technology, with goals to break down boundaries and expand globally.
Just last month,Binancewithdrew its application to operate as a crypto exchange in Singapore. The withdrawal was reportedly due to falling short of the Monetary Authority of Singapore’s (MAS) AML and KYC requirements.
With regulators globally taking a greater interest in the crypto space at the turn of the year, establishing in Singapore will likely prove to become more challenging, particularly for subsidiaries of foreign entities.
It, therefore, comes as little surprise that Line Tech Plus and Klatyn fell short of MAS expectations. The two entities fall under Naver and Kakao respectively.
Both entities reportedly saw their request to operate as digital payment token service entities denied this week.
To put it into perspective, only 3 entities out of a reported 170 companies have received the MAS stamp of approval. Two are Singapore entities and one is Independent Reserve, an Australian crypto exchange.
Interestingly, the news comes off the back ofthe South Korean government’s plans to widen its reach on crypto holders ahead of 2023 income tax changes on crypto holdings.
What lies ahead for both Kakao and Naver on the international blockchain stage remains to be seen. Attempts to arbitrage tight restrictions at home may be a tall order, however, as regulators look to unite to address AML and KYC issues and more.
A call by the Bank of England for the need to form a global framework to regulate the crypto market may have found traction…
Once more, the crypto market reaction to the latest regulatory news has been muted. While this is the case, however, there’s been no breakout following the turn of the year pullback.
At the time of writing, Bitcoin (BTC) was up by 1.23% to $47,022.
Thisarticlewas originally posted on FX Empire
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• Natural Gas Price Prediction – Prices Slip on Warm Weather Forecast || Market Wrap: Bitcoin Dips as Dominance Over Ethereum Shrinks: Bitcoin was down about 4% over the past 24 hours along with equities on Wednesday. The intraday sell-off occurred after the U.S. Federal Reserve pointed to a possible interest rate hike in March, which is sooner than many had expected. But despite the price dip, some analysts expect BTC will stabilize in a range of between $40,000 and $50,000, which could keep volatility low. Others are looking to alternative cryptocurrencies (altcoins) such as ETH, LINK, ICP, FTM that have outperformed BTC over the past week. For example, some decentralized finance (DeFi) tokens that fell out of favor in early 2021 still managed to retain some top spots in terms of total value locked, which represents the number of assets that are staked in a protocol. “Perhaps as they are considered more battle-tested and a safer store of capital compared to newer competitors,” Delphi Digital wrote in a blog post. For now, even with altcoins in the spotlight, volatility has declined in both BTC and ETH recently. “Our view is that this volatility compression is structural and will be a theme for 2022,” crypto trading firm QCP Capital wrote in a Telegram announcement. “With that said, we think this dip in the front-end [of the volatility curve] is overextended and we’re adding long gamma here.” Traders are “long gamma profit” when the underlying asset moves more than expected. Latest Prices Bitcoin (BTC): $43,943, -4.98% Ether (ETH): $3,592, -5.85% S&P 500: $4,700, -1.94% Gold: $1,810, -0.19% 10-year Treasury yield closed at 1.69% Bitcoin dominance declines The bitcoin dominance ratio, or the measure of BTC’s market capitalization relative to the total crypto market capitalization, continued to decline toward 39% on Wednesday. The ratio is at the lowest level since April 2018, when cryptocurrencies were in a bear market. Typically, during periods of market panic, some traders would sell altcoins, which are deemed to be risky. The remaining option for traders is to seek relative safety in BTC, which results in a higher bitcoin dominance ratio. Story continues This time, however, altcoins continue to outperform bitcoin, which suggests investor appetite for risk remains strong. Bitcoin dominance ratio (TradingView) Ethereum’s market cap getting closer to bitcoin’s Ethereum, the second-largest cryptocurrency by market cap, is roughly 50% away from overtaking bitcoin as the largest cryptocurrency. Some analysts refer to the battle for crypto’s top crown as “ The Flippening .” Over the past year, ether has gained ground versus bitcoin across several metrics, including active addresses, Google search interest and transaction counts. ETH's market cap vs. BTC (BlockchainCenter) The rise in ether’s market capitalization suggests investors are looking for potential opportunities for return beyond bitcoin. “There are hard dates and a hard outline from the Ethereum Foundation to increase the network throughput and lower transaction fees,” Katie Talati, head of research for crypto and blockchain asset management firm Arca, said during an interview on CoinDesk’s “First Mover” show. Ethereum’s network improvements could be a catalyst to attract more funds to ether versus bitcoin, according to Talati. Altcoin roundup The state of Ethereum’s fee market: CoinDesk’s Edward Oosterbaan examined the motivation for EIP 1559 and if after four months, there are any real impacts on the Ethereum blockchain. So far, Coinbase noted it is saving 27 ETH per day from base-fee refunds and faster transaction confirmations by 11 seconds compared with before the London hard fork . On the opposing side, Galaxy Digital’s look into EIP 1559 reported issues due to increased block size (gas limits). Chainlink (LINK) jumps, outperforming bitcoin: LINK led gains among major cryptocurrencies over the past two days as the broader market showed signs of a recovery. LINK is used to pay for price feeds and other services on Chainlink and has a market capitalization of $12 billion, CoinGecko data show. The price, however, is down 50% from its record of $52 last May. Algorand enters the metaverse: The Drone Racing League (DRL) and Web 3 game developer Playground Labs have tapped Algorand’s blockchain to create the first play-to-earn drone game in the metaverse, the league announced on Wednesday. While the details are still to be worked out, the league said “players will race DRL drones” (presumably digital ones) for cryptocurrency and non-fungible tokens on Algorand. Read more here . Relevant News Voyager Digital’s Estimated Quarterly Revenue Doubles to $165M Billionaire Alan Howard Joins Latest $20M Bet on Decentralized Video Network Livepeer German Miner Northern Data Shares Jump Following Operational Update Blockchain Firm BTCS to Offer Dividend in Bitcoin; Shares Surge Other markets Most digital assets in the CoinDesk 20 ended the day lower. Largest winners: Asset Ticker Returns Sector Chainlink LINK +4.6% Computing Largest losers: Asset Ticker Returns Sector Cosmos ATOM −12.4% Smart Contract Platform Polygon MATIC −7.9% Smart Contract Platform Polkadot DOT −7.1% Smart Contract Platform Sector classifications are provided via the Digital Asset Classification Standard (DACS) , developed by CoinDesk Indices to provide a reliable, comprehensive, and standardized classification system for digital assets. The CoinDesk 20 is a ranking of the largest digital assets by volume on trusted exchanges. || Bitcoin pyramid schemes wreak havoc on Brazil's 'New Egypt': CABO FRIO, Brazil (AP) In April, Brazils federal police stormed the helipad of a seaside hotel in Rio de Janeiro state, where they busted two men and a woman loading a chopper with 7 million reais ($1.3 million) in neatly packed bills. The detainees told police they worked for G.A.S. Consulting & Technology, a cryptocurrency investment firm founded by a former waiter-turned-multimillionaire who is the central figure in what is alleged to be one of Brazils biggest-ever pyramid schemes. Police say the company owned by 38-year-old Glaidson Acácio dos Santos had total transactions worth at least $7 billion ($38 billion reais) from 2015 through mid-2021 as part of a Bitcoin-based Ponzi scheme that promised investors 10% monthly returns. In hundreds of pages of documents obtained by The Associated Press, federal and state police and prosecutors accuse dos Santos of running a sophisticated racket defrauding thousands of small-scale investors who believed they were getting rich off Bitcoins steep appreciation. He is now in a Rio jail awaiting trial on charges including racketeering, financial crimes and ordering the murder and attempted murder of two business competitors. He remains under investigation in the attempted murder of a third competitor. Dos Santos has repeatedly asserted his innocence. His lawyers didnt reply to AP requests for comment. Despite the charges, dos Santos represents an unlikely hero to supporters. Many view him as a modest Black man whose unorthodox Bitcoin business made them wealthy by gaming a financial system they believe is rigged by wealthy white elites. The case also underscores the fast-growing appetite for cryptocurrencies in Brazil, where years of economic and political crises have made digital currencies an attractive shield against depreciation of the Brazilian real and double-digit inflation. Bitcoin fervor was high in Cabo Frio, the resort town where G.A.S. was based. As G.A.S. revenues rose, enriching early adopters, copycat firms sprang up, seeking to cash in. A wave of cryptocurrency-related violence followed. With so many alleged pyramid schemes, Cabo Frio came to be known as the New Egypt. And as the towns top dog, dos Santos was dubbed the Bitcoin Pharaoh. Police say dos Santos began trading in Bitcoin in 2014 after leaving his job as a waiter. He enlisted clients from the Universal Church of the Kingdom of God, where he had once trained as a preacher, promising referral fees to those who brought in fresh recruits, authorities say. In a statement, the Universal Church accused dos Santos of harassing and recruiting pastors and their flocks to join his company. Story continues By 2017, dos Santos was making serious money and attracting authorities attention. That year his companys transactions totaled 10 million reais ($1.8 million), 15 times more than the previous year. The countrys financial intelligence unit also noticed the company registered as a restaurant was regularly trading cryptocurrency on online exchange platforms. Prosecutors say the alleged scheme worked like this: Clients deposited their money into bank accounts run by managing partners. The money was then transferred to dos Santos or his Venezuelan wife, Mirelis Yoseline Diaz Zerpa, who would either pocket it, buy bitcoins and other cryptocurrencies as well as traditional financial assets, or pay off other members of the scheme. Clients were promised a 10% monthly return on their investments over 12- to 48-month contracts, but did not own the bitcoins they were told G.A.S. bought with their money. And, they were assured, it was risk-free: They would get their entire initial investment back at the end of the contract. As Bitcoin fever grew, dos Santos was fast becoming a celebrity in Cabo Frio. If he wanted to run for mayor, governor even, hed win, said Gilson Silva do Carmo, 52, one of dos Santos alleged victims. The chubby young man in thick-rimmed glasses was also gaining a taste for the high life, buying expensive jewelry and a swanky apartment as contracts poured in from elsewhere in Latin America, the U.S., Europe and the Gulf. Brazils lenient laws regulating cryptocurrency helped fuel dos Santos rise, experts say. At the same time, Brazils securities regulator was making cryptocurrency more attractive: It authorized the countrys investment funds to invest in digital currencies in 2018, giving them greater credibility. Last year, Brazil approved Bitcoin exchange-traded funds, only the second country in the world to do so. In and around Cabo Frio, where residents saw neighbors reap rewards by investing their life savings in G.A.S., many began to fear missing out. Do Carmo was among them. After his therapist told him he sold his house to invest in G.A.S. and had been receiving 10% monthly returns for a year, do Carmo invested just over half his retirement fund. In Cabo Frio, dos Santos success inspired others: Some competitors promised even higher returns 20% or more a month. Dos Santos wasnt happy. In mid-April, he discussed with associates how rivals were encroaching on his turf, according to WhatsApp messages intercepted by federal police. Four months later Wesley Pessano, a cryptocurrency trader, was shot dead in his Porsche. Police accuse dos Santos of ordering the hit. Rio state police also linked two attempted killings to dos Santos. On March 20, a trader was shot while driving his BMW through Cabo Frio. Three months later another firms operator was targeted, his car hit by 40 bullets. Both survived. Things came to a head on April 28 when Rio police seized the 7 million reais at the helipad of the Insolito Boutique Hotel outside Cabo Frio. A monthslong investigation into dos Santos business followed. On Aug. 25, federal police raided more than a dozen locations linked to G.A.S., including dos Santos home where he was found with 13.8 million reais ($2.5 million) and arrested. Agents also found hard drives containing 10 times that amount in Bitcoin, gold bars, jewelry and several sports cars. Sixteen associates were also charged, including Diaz Zerpa, dos Santos wife, who left the country weeks before the raid and is believed to be in Florida, according to authorities. They say she withdrew more than 4,300 bitcoins worth $185 million (1 billion reais). Do Carmo watched in horror; he had invested the rest of his savings in the company just weeks earlier. I thought, My God, what have I done? he said. You watch everything you fought for, your entire life wash away from one moment to the next. Brazilian law enforcement is still trying to uncover the true size of dos Santos empire. Prosecutors have identified at least 27,000 victims in at least 13 Brazilian states and seven other countries, including the U.S., United Arab Emirates, the U.K. and Portugal. However, the true tally is likely much higher, said Luciano Regis, a lawyer representing dozens of victims. Its hard to have a conversation with anyone in Cabo Frio who doesnt know someone who invested, he said. View comments || China Xiangtai Agrees To Purchase Bitcoin Miners To Boost Hash Rate: China Xiangtai Food Co Ltd (NASDAQ: PLIN ) said its U.S. subsidiary, SonicHash LLC, has entered into sales and purchase agreements with two global Bitcoin mining hardware suppliers to purchase 2200 Bitcoin miners for about $13 million. The company's new miners have hash rates of 92 and 98 TH/s and are expected to ramp up the total hash rate of the company's miner fleet by over 209 PH/s. The new miners are expected to be delivered to the company's mining facility site in the U.S. by April 30, 2022. Upon delivery, the company's mining operation will consist of 3,628 Bitcoin miners producing 341.2 PH/s when operating at full capacity. China Xiangtai expects to generate about $21.5 million in revenue and $13.5 million in cash contribution margin in the next 12 months. Price Action: PLIN shares are trading higher by 1.78% at $1.14 on the last check Monday. See more from Benzinga China Xiangtai Food Raises ~M Via Equity Offering © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || NZD/USD Likely to Feel Downside Pressure Under .6710: The New Zealand Dollar closed a little better on Friday but off its high as risk sentiment soured throughout the day due to fear of a Russian invasion of Ukraine. Earlier in the session, the Kiwi rose as hawkish traders bet on a 25-basis point rate hike by the Reserve Bank (RBNZ) at its next policy meeting on February 22. On Friday, the NZD/USD settled at .6695, up 0.0002 or +0.04%. Some NZD/USD investors are looking for a 50-basis point rate hike with a consensus looking for rates to reach 2.5% by the end of the year before leveling off. There is also speculation that central bank policy makers could lift its projected peak for rates to 3.0% this week. Besides the RBNZ policy meeting, New Zealand Dollar traders will be focusing on the escalating situation in Eastern Europe. If war breaks out then look for the NZD/USD to tumble since investors would shed the riskier currency, while moving money into the U.S. Dollar for projection. Daily NZD/USD Daily Swing Chart Technical Analysis The main trend is up according to the daily swing chart. A trade through .6733 will reaffirm the uptrend. A move through .6593 will change the main trend to down. The main range is .6891 to .6529. Its retracement zone at .6710 to .6753 is resistance. It stopped the selling at .6733 on February 10 and at .6730 on Friday. The upper or Fibonacci level at .6753 is also the trigger point for an acceleration to the upside. The minor range is .6593 to .6730. Its 50% level at .6661 is the next downside target. The short-term range is .6529 to .6733. Its retracement zone at .6631 to .6607 is the best support area. The lower or Fibonacci level at .6607 is the last support before the main bottoms at .6593 and .6590. Short-Term Outlook We’re likely to be in a news driven mode throughout the week with the strong possibility of heightened volatility as investors deal with the situation in Ukraine and the RBNZ interest rate decision. The key area to watch is .6710 to .6753. Look for a downside bias to develop on a sustained move under .6710, and for the uptrend to strengthen on a sustained move over .6753. Story continues If the selling pressure is strong enough to take out .6593 then the trend will change to down. If .6590 fails as support then look for an acceleration to the downside. This article was originally posted on FX Empire More From FXEMPIRE: Dollar Index Edges Higher on Increased Tensions Over Ukraine Late Actor Robin Williams’s Son Goes NFT for Mental Health The Weekly Wrap – Russia and the Ukraine Overshadow Economic Data Taking a Look at Land Tax in the Metaverse Space The Week Ahead – Central Banks, Private Sector PMIs, and Russia in Focus The NASDAQ 100 Pulls Bitcoin (BTC) Back to sub-$40,000 || Shiba Inu and 9 More of the Biggest Hits in Crypto for 2021: baona / iStock.com Stanislav Palamar / Getty Images Bitcoin Bitcoin was the first cryptocurrency and it remains both the largest and the most well-known. In fact, to the general public, Bitcoin is the standard bearer for all cryptocurrency, with many assuming that how Bitcoin trades is reflective of the cryptocurrency market as a whole. While this is true to some degree, it's also true that many of the thousands of other cryptos dance to their own beat. In 2021, one of the many headlines surrounding Bitcoin was the news that El Salvador would be the first country to accept Bitcoin as legal tender, perhaps paving the way for other countries to do the same. The price of Bitcoin has continued to soar, part of the reason it continually garners headlines. As of Nov. 26, the industry-leading crypto is up about 87% since January 2021. Over the past year, Bitcoin has risen by 218%. Do You Know? Where Does Cryptocurrency Come From? gopixa / Getty Images Ethereum Ethereum has long played second fiddle to Bitcoin, but it's on a trajectory to unseat Bitcoin as the most valuable crypto in terms of market cap. Currently, Ethereum's market cap of about $500 billion is about half that of Bitcoin's $1 trillion, but it has posted gains of 733% over the past year, more than tripling the gains made by Bitcoin. The crypto's market share has already jumped to 20% of the market, from 8.5%, while Bitcoin's has dropped from 67% to about 45%. Beyond Bitcoin: Looking at Some Crypto Financial Jargon Adrian Black / Getty Images Dogecoin Dogecoin has been the subject of countless news articles over the past year or so, partially due to its creation story. Dogecoin was literally created as a joke, a spoof on the crypto crazy in which investors would bid up even worthless coins. But Dogecoin has proven that even the most illusory cryptos can become real, as it now sits as the 10th-largest cryptocurrency in terms of market capitalization, at a whopping $30 billion valuation. In May 2021, Dogecoin had a market cap as high as $88 billion. Find Out: What Is Chainlink and Why Is It Important in the World of Cryptocurrency? salarko / Getty Images Shiba Inu Shiba Inu is another coin fashioned in the whimsical manner of Dogecoin, but it does carry slightly more heft. Shiba Inu is built on the Ethereum ecosystem, and thus enjoys the security and advanced features of that platform. Overall, the crypto is still a bit of an experiment, as it is more of a community- and supporter-driven crypto than a functional token in a structured environment. However, that hasn't stopped the crypto from reaching $22 billion in market cap and posting a ridiculous one-year gain of 59,146,060%, even though it only trades at a minuscule $0.00003990 per coin, as of late November. Story continues Find Out: Why Some Money Experts Believe In Bitcoin and Others Don't Rick_Jo / iStock.com Cardano Cardano skyrocketed in popularity in 2021 as it was one of the first cryptos to embrace proof-of-stake validation. In plain English, this means that Cardano is able to greatly reduce transaction time and energy usage, two of the problems that continue to dog Bitcoin. It also borrows a playbook from the Ethereum network via its decentralized applications and enabling of smart contracts. Investors have flocked to the coin in 2021, which is up over 1,000% over the past year in spite of a recent selloff. Read: How To Invest In Cryptocurrency: What You Should Know Before Investing Chinnapong / Getty Images Solana Solana is another crypto that has flown somewhat under the radar of the general public but has provided astronomical returns for those who have owned it. Solana blends both proof-of-stake and proof-of-history mechanisms, which has attracted a lot of interest from investors. Solana now has a market cap of over $60 billion after sprinting to a 10,500% gain over the past year. Binance Coin (BNB): Why It's So Interesting to the Cryptocurrency World Rick_Jo / iStock.com XRP XRP works on the Ripple digital payment processing network, where it can be used to facilitate exchanges among both digital and fiat currencies. As a crypto with a defined utility, investors have slowly and steadily piled into XRP, giving it a market cap of about $45 billion. In crypto terms, XRP has risen modestly over the past year, up 70%. See: Is Crypto a Sinking Ship? Money Experts Weigh In D-Keine / iStock.com Crypto.com Crypto.com bills itself as the world's fastest-growing crypto app, boasting over 10 million users and offering the ability to buy or sell over 200 cryptocurrencies at true cost. While that level of achievement might make news on its own, the biggest hit of 2021 for the company was its announcement that it had bought the naming rights for the former Staples Center in Los Angeles, home of sports teams like the Los Angeles Lakers. The name change of the storied venue to the Crypto.com Arena will officially take place as of Christmas Day 2021. Crypto.com paid an incredible $700 million for the naming rights to the arena, showing the immense amount of money being generated in the cryptocurrency space. Take a Look: The 10 Wildest Things Selling as NFTs NanoStockk / Getty Images ProShares Bitcoin Strategy ETF One of the biggest crypto headlines of 2021 was the much-anticipated arrival to market of an exchange-traded fund devoted to buying Bitcoin futures. The ProShares Bitcoin Strategy ETF has already proven to be one of the most successful ETF launches in history, raising $1.26 billion in assets in its first month. Bitcoin has been down in the month since the ETF officially launched, but it's easy to imagine the ETF gaining even more popularity if Bitcoin turns around and begins setting new highs again. $120K Bananas and $69M Digital Collages: Strange and Expensive Art Sales Chinnapong / Getty Images Gitcoin Investors looking for "the next big thing" in crypto have been piling into Gitcoin in late November 2021. This Ethereum token uses quadratic funding and other inventive means to fund and coordinate open-source development, according to Coinbase. The crypto still has a tiny market cap of about $300 million, even after shooting up 54% in a day, 167% in a week and 590% over the past year, as of Nov. 27, 2021. More From GOBankingRates The 5 Fastest Ways To Become Rich, According To Experts Social Security Schedule: When You'll Receive Payments For The Remainder of 2021 How To Add $500 to Your Wallet Just in Time for the Holidays Should You Refinance Now With the Low Mortgage Rates? This article originally appeared on GOBankingRates.com : Shiba Inu and 9 More of the Biggest Hits in Crypto for 2021 View comments
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 37296.57, 38332.61, 39214.22, 39105.15, 37709.79, 43193.23, 44354.64, 43924.12, 42451.79, 39137.61
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2016-05-19]
BTC Price: 438.71, BTC RSI: 39.98
Gold Price: 1254.20, Gold RSI: 46.59
Oil Price: 48.16, Oil RSI: 68.10
[Random Sample of News (last 60 days)]
Bitcoin's Creator Reveals Himself: More than seven years after the first bitcoin transaction, Australian entrepreneur Craig Wright has stepped forward to identify himself as “Satoshi Nakamoto,” the creator of Bitcoin.
Major players involved in the development of Bitcoin have confirmed that the proof that Wright has presented that he is Nakamoto is legitimate.
In a meeting withthe BBC, the Economist and GQ, Wright digitally signed messages using cryptographic keys created during the early days of Bitcoin development and linked to blocks of bitcoins mined by Nakamoto.
Wright says these blocks were used to make the first ever bitcoin transaction back in January of 2009.
Jon Matonis, Economist and founding director of the Bitcoin Foundation, verified Wright’s claims.
“During the London proof session, I had the opportunity to review the relevant data along three distinct lines: cryptographic, social and technical,” Matonis explained.
“It is my firm belief that Craig Wright satisfies all three categories.
Related Link:Poll: Analysts See More Upside For Gold, Silver
Other Bitcoin enthusiasts remain skeptical, but Wright plans to publicly release data to allow others to verify his identity.
Since Bitcoin’s inception, Satoshi Nakamoto is believed to have accumulated more than one million bitcoins. That would mean that Wright could potentially have generated about $450 million in profit to date.
TheBitcoin Investment Trust(OTC:GBTC) is up 12.7 percent in 2016.
Disclosure: the author holds no position in the stocks mentioned.
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© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || How an early bitcoin leader is staying relevant in a blockchain frenzy: If you are interested in dipping a toe in the waters of the digital currency bitcoin, the easiest way is to buy some bitcoin, and arguably the best-known service for that is Coinbase. The company launched four years ago today, and was one of the earliest bitcoin walletsthat is, simply, a place to buy and hold bitcoin. By being early to the craze, Coinbase became one of the most recognizable and respected brands in the bitcoin industry, it raised nearly $107 million in venture capital (by far the most raised by any bitcoin startup until 21 Inc. came along ), and its co-founders, Brian Armstrong and Fred Ehrsam, became influential names in the business. Lately, the narrative about the bitcoin world has shifted to blockchain, the decentralized, peer-to-peer, open-source technology that powers bitcoin. ( For an explainer, check out this video .) The idea of blockchain came about side-by-side with bitcoin in 2009, but now major banks and financial institutions are gaga over the idea of using blockchains to speed up their transaction processingclosed, private blockchains without bitcoin. Now some of the hottest startups that started out as bitcoin companies have subtly edged away from bitcoin in their marketing. Bitreserve, a cloud bank that allows you to hold funds in many different currencies , changed its name to Uphold; Circle, which started as a bitcoin payment app, added the ability to deposit funds in U.S. dollars , and no longer mention bitcoin on its home page. Many bitcoin companies are focusing on blockchain and working with new partners who, in many cases, have no interest in a volatile cryptocurrency. But Coinbase and its leaders are more bullish on bitcoin than ever. I think the whole narrative of blockchain without bitcoin will amount to very little, declares Fred Ehrsam. In an interview with Yahoo Finance during the big bitcoin conference Consensus this month, Ehrsam compared the current craze over blockchain to corporations that rushed to create intranets in the early days of the Internetthey were closed networks, accessible only to one companys employees. And while those still exist at some companies today, most people eventually realized that they didnt need to create private corners of the Internet, because the large, open Internet is good enough. Story continues It is a popular comparison among bitcoin believers at the moment. Many people on the banking side of things, in visits with Yahoo Finance, have been dismissive of that dismissiveness. They see potential in blockchain technology to reduce friction in payments overseas, and maybe even speed the settlement of stock purchases. Ehrsams point is that the bitcoin blockchain can already do that. A former Goldman Sachs ( GS ) foreign exchange trader, Ehrsam brings financial chops to bitcoin, a world which many of the most fervent supporters got into because they are anti-banking and anti-government. Ehrsam has said he aims for Coinbase to be a Goldman Sachs of cryptocurrency. Some in bitcoin would say its already there. Coinbase has grown far beyond a mere bitcoin wallet: It has more than 2 million users; it is now operable in 32 countries; it recently launched the ability for U.S. customers to buy bitcoin instantly using a debit card (previously you had to link up a bank account and wait a few days, which was a nice illustration of the sluggishness of traditional banking); and most significantly, last year it launched an entirely new business: a bitcoin exchange. Coinbase has major competition among bitcoin exchanges. Many, many exchanges have sprung up in the past two years, including one from the Winklevoss brothers, Gemini, which last year scored regulatory approval from the New York Department of Financial Services to operate as a trust, and this month got new approval to add the ability for customers to trade Ether, a much-hyped alternative digital-currency to bitcoin. Coinbase, in contrast with Gemini, did not wait for regulatory approval in New York before launching. But a report just this week from Reuters suggests the NYDFS is set to grant Coinbase a BitLicense anyway, which, if true, will certainly make Coinbase look like it was smart not to wait. After a little over one year in business, Coinbase says it has the most liquid bitcoin exchange in the U.S. Meanwhile, Ehrsam and Armstrong have become key voices in a wonky internal debate in the bitcoin world over whether to increase the block-size limit of bitcoins blockchain. In simplest terms, transactions are recorded on the blockchain in bundles called blocks, but the blockchain has slowed down recently under the weight of larger transactions. Some in bitcoin want to raise the limit to allow for larger blocks, while others dont want bitcoin mining to get to a point where a personal laptop cant handle the data. Ehrsam and Armstrong are in the former camp, and Armstrong has written publicly on the block size debate . To be sure, many titans of Wall Street are still certain that while blockchain technology is heating up, bitcoin, the currency, is on its way to the grave. JPMorgan ( JPM ) CEO Jamie Dimon has called bitcoin "doomed." Nonetheless, Ehrsam is laser-focused on a business plan that depends on people like Dimon being very wrong. The value of bitcoin, by the way, is up 91% in the last year. -- Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at @readDanwrite . Read more: How big banks are paying lip service to the blockchain Heres how you can invest in the blockchain Bitcoin's biggest investor just bought its biggest news site Here's a sign that PayPal is embracing Bitcoin || 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 [email protected] . 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 || '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. Story continues "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 (BTC=ITBT) , 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) || The euro crossed 1.1500 for the first time since August — here's what's happening in FX: (Investing.com)
Good morning!
The US Treasury Department put China, Japan, Germany, Taiwan, and South Korea on a currency "Monitoring List," last Friday.
"China, Japan, Germany, and Korea are identified as a result of a material current account surplus combined with a significant bilateral trade surplus with the United States. Taiwan is identified as a result of its material current account surplus and its persistent, one-sided intervention in foreign exchange markets," the Treasury wrote in its semi-annualFX report to Congress.
And it "will closely monitor and assess the economic trends and foreign exchange policies of these economies."
Specifically, the Treasury noted that it'sconcernedabout therising imbalances with a number of its major trading partners, and how that could impact the global economy.
As for the rest of the world, here's the scoreboard as of 8:10 a.m. ET:
• Theeurobriefly crossed 1.1500 for the first time since August before paring its gains. Currently, the single currency is stronger by 0.2% at 1.1482. The euro found has seen a small bid after eurozone PMI came in at 51.7, above expectations of 51.5. Readings from both France and Germany disappointed while Italy's beat.
• TheJapanese yenhit its strongest level in 18-months, after surging by approximately 5% at the end of last week when the Bank of Japan unexpectedly did not boost stimulus. The yen strengthened by about 0.3% to 106.14 per dollar earlier in the day, but is now around 106.59 per dollar.
• TheAustralian dollaris stronger by 0.5% at .7638 ahead of the Reserve Bank of Australia's Tuesday meeting. "RBA now has a dilemma. Economic growth doesn't argue for a rate cut next week. But the breadth of the price weakness in the Q1 CPI and signs that inflation expectations are shifting down suggest the period that inflation will undershoot the 2%-3% target could be more persistent than temporary," noted a Citi Research team led by Paul Brennan. "These considerations provide justification for a 25bp easing next week."
• Thedollar indexis weaker by 0.2% at 92.88. Notably,Puerto Rican Gov.Alejandro Garcia Padillasaidthe island's Government Development Bank would not make a $422 million payment due on Monday.Monday's default will put pressure on Congress to find a resolution for Puerto Rico, which owes "another $1.9 billion of debt on July 1, including about $777 million in general obligation debt backed by its constitution," according to Reuters.
• And, for what it's worth,Bitcoinis down 1.4% to 440.52 versus the dollar after Australian IT executive Craig Steven Wrightclaimedthat he is the creator of the virtual currency.
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• The dollar is getting slammed after a bunch of disappointing data || Bitcoin exchange Coinbase to add ether currency to trading platform: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin exchange Coinbase said on Thursday it will add digital currency ether on its trading platform next Tuesday. The addition of ether comes given the surge in interest in the digital asset among major financial institutions such as Barclays [BARCR.UL] and UBS [UBSAG.UL] as well as other enterprises worldwide like IBM, which are trying to explore the Ethereum network. Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum, which uses ether to execute peer-to-peer contracts automatically without the need for intermediaries, was co-founded and invented by 22-year old Russian Canadian programer Vitalik Buterin. "We're very excited about Ethereum. There has been a ton of progress made in the last six to nine months," said Adam White, vice president of business development at Coinbase in an interview with Reuters. "We have seen hundreds of emerging decentralized apps (applications) launched on Ethereum." He added that bitcoin cannot mirror Ethereum's "scripting language," so both bitcoin and ether can co-exist and will not necessarily compete with each other. Coinbase also plans to change the name of its platform to GDAX (Global Digital Asset Exchange), said White. The name Coinbase, however, will be retained for its retail service such as exchanging dollars for bitcoin or ether, he added. Coinbase, widely believed to be the largest bitcoin-focused company in terms of investment, will offer ether/dollar and ether/bitcoin currency pairs on GDAX. The name change was made because the company will add more digital assets for trading on its exchange, White said. According to coinmarketcap.com, ether is trading at $14.28 late on Thursday, with a market capitalization of about $1.1 billion, the second largest behind bitcoin. Bitcoin currently has a market cap of $6.9 billion. Daily volume for ether is around $48 million, while average daily volume for bitcoin is $87.2 million. At the beginning of the year, ether traded at just $1 per token and it is the fastest-rising digital currency. White said ether will be available on GDAX in most states except New York because Coinbase is still in the process of applying for a license in the state. Coinbase's move to add ether trading to its currency exchange platform came after New York approved the application of Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, to trade ether on its exchange. "What's powerful about ethereum is that I can write self-executing contracts and I can run them on Ethereum and it's not on any central server or computer," said White. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Bernard Orr) View comments || What to do if hackers hold your computer hostage and demand cash: You’re sitting at your computer when you get an email from your local bank saying you were just hit with a charge for a new $1,200 MacBook that you never bought. You click the email and follow the embedded link or download the included receipt to find out what’s up.
Just like that, your computer has been infected with ransomware. You can’t access your files, and all you can see is a timer counting down the time until hackers delete your computer’s drive unless you pay them a fee in iTunes gift cards.
All you can do is scratch your head and wonder what the hell just happened. Well, I’m here to explain that to you — and to help you fight back against ransomware criminals.
The most important thing to remember is this: Never, ever pay the ransom.
Let’s start with the basics. A particularly nefarious form of malware, ransomware is a piece of software criminals use to lock you out of your computer by encrypting its files and holding them for ransom for a specific dollar amount.
If you don’t pay up, you can potentially say goodbye to your photos, tax documents, pay stubs, and any other documents you’ve saved throughout the years.
This isn’t some idle threat, either. If you don’t pay, your documents will disappear or simply stay locked up until you completely reformat your system.
Ransomware programs sometimes require you to pay in Bitcoin, an anonymous currency that can’t be tracked.
However, criminals have increasingly begun demanding payment in the form of iTunes or Amazon gift cards, since the average person doesn’t know how to use Bitcoin, according to Gary Davis, chief consumer security evangelist at Intel Security.
The amount you have to pay to unlock your computer can vary, with some experts saying criminals will ask for up to $500.
To be clear, ransomware doesn’t just target Windows PCs. The malware has been known to impact systems ranging from Android phones and tablets to Linux-based computers and Macs.
According to Davis, ransomware was actually popular among cybercriminals over a decade ago. But it was far easier to catch the perpetrators back then since anonymous currency like Bitcoin didn’t exist yet. Bitcoin helped changed all that by making it nearly impossible to track criminals based on how victims pay them.
There are multiple types of ransomware out there, according to Chester Wisniewski, a senior security advisor with the computer security company Sophos. Each variation is tied to seven or eight criminal organizations.
Those groups build the software and then sell it on the black market, where other criminals purchase it and then begin using it for their own gains.
Ransomware doesn’t just pop up on your computer by magic. You actually have to download it. And while you could swear up and down that you’d never be tricked into downloading malware, cybercriminals get plenty of people to do just that.
Here’s the thing: That email you opened to get ransomware on your computer in the first place was specifically written to get you to believe it was real. That’s because criminals use social engineering to craft their messages.
For example, hackers can determine your location and send emails that look like they’re from companies based in your country.
“Criminals are looking are looking up information about where you live, so you’ll click (emails),” Wisniewski explained to Yahoo Finance. “So if you’re in America, you’ll see something from Citi Bank, rather than Deutsche Bank, which is in Germany.”
Cybercriminals can also target ransomware messages to the time of year. So if it’s the holiday shopping season, criminals might send out messages supposedly from companies like the US Postal Service, FedEx or DHL. If it’s tax time, you could receive a message that says it’s from the IRS.
Other ransomware messages might claim the FBI has targeted you for using illegal software or viewing child pornography on your computer. Then, the message will tell you to click a link to a site to pay a fine — only to lock up your computer after you click.
It’s not just email, though. An attack known as a drive-by can get you if you simply visit certain websites. That’s because criminals have the ability to inject their malware into ads or links on poorly secured sites. When you go to such a site, you’ll download the ransomware. Just like that, you’re locked out of your computer.
Ransomware attacks vulnerabilities in outdated versions of software. So, believe it or not, the best way to protect yourself is to constantly update your operating system’s software and apps like Adobe Reader. That means you should always click that little “update” notification on your desktop, phone, or tablet. Don’t put it off.
Beyond that, you should always remember to back up your files. You can either do that by backing them up to a cloud service like Amazon Cloud, Google Drive or iCloud, or by backing up to an external drive.
That said, you’ll want to be careful with how you back up your content. That’s because, according to Kaspersky Lab’s Ryan Naraine, some ransomware can infect your backups.
Naraine warns against staying logged into your cloud service all the time, as some forms of malware can lock you out of even them. What’s more, if you’re backing up to an external hard drive, you’ll want to disconnect it from your PC when you’re finished, or the ransomware could lock that, as well.
Naraine also says you should disconnect your computer from the internet if you see your system being actively encrypted. Doing so, he explains, could prevent all of your files that have yet to be encrypted from being locked.
Above all, every expert I spoke with recommended installing some form of anti-virus software and some kind of web browser filtering. With both types of software installed, your system up to date, and a backup available, you should be well-protected.
Oh, and for the love of god, avoid downloading any suspicious files or visiting sketchy websites.
Even if you follow all of the above steps, ransomware could still infect your computer or mobile device. If that’s the case, you have only a few options.
The first and easiest choice is to delete your computer or mobile device and reinstall your operating system. You’ll lose everything, but you won’t have to pay some criminal who’s holding your files hostage.
Some security software makers also sell programs that can decrypt your files. That said, by purchasing one, you’re betting that it will work on the ransomware on your computer, which isn’t always the case. On top of that, ransomware makers can update their malware to beat security software makers’ offerings.
All of the experts agree that the average person should never pay the ransom — even if it means losing their files. Doing so, they say, helps perpetuate a criminal act and emboldens ransomware makers.
Even if you do pay up, the ransomware could have left some other form of malware on your computer that you might not see.
In other words: Tell the criminals to take a hike.
Email Daniel [email protected]; follow him on Twitter at@DanielHowley. || Exclusive: Coinbase, Ripple close to landing New York bitcoin licenses - source: By Suzanne Barlyn
NEW YORK (Reuters) - New York state's financial regulator is close to approving licenses for bitcoin companies Coinbase Inc and Ripple Labs Inc, which would allow them to offer digital currency services in the state, a person familiar with the matter said on Thursday.
The New York State Department of Financial Services received applications from both companies, according to an April 28 notice published on the regulator's website. The notices, usually published after virtual currency firms have completed the regulator's paperwork, signal that the licensing process is nearly complete, according to the person familiar with the matter and other sources.
An exact time frame for approval of the licenses is not yet clear. The sources requested anonymity because they were not authorized to speak publicly.
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. Despite being championed by some as the digital money of the future, it is often dismissed as a currency that is too volatile to invest in.
Last year, New York became the first U.S. state to issue extensive rules for virtual currency companies. The guidelines, aimed at consumer protection and prevention of money laundering, require companies to obtain what is known in the state as a "BitLicense."
Both Coinbase and Ripple are based in San Francisco.
"We are committed to being fully compliant with all state and federal laws and applied for the license to ensure we remain so," said a Ripple spokesman, who declined to elaborate. Coinbase declined to comment.
The four-year-old Coinbase is one of the world's largest U.S.-based bitcoin companies. Among its backers are USAA and venture capital firms Andreessen Horowitz and Ribbit Capital. Coinbase, which markets its services to consumers and merchants, has also applied for a license that would allow it to facilitate dollar transactions.
Backers of Ripple, which filed for the license under the corporate name XRP II LLC, also include Andreessen Horowitz along with Google Ventures and IDG Capital Partners. Ripple's service and currency, known as XRP, is for financial institutions and companies, such as banks, that provide liquidity for foreign exchanges.
Once approved, the licenses would add to a nascent digital currency industry taking hold in New York. On Thursday, NYDFS approved the application of Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, to trade a digital currency called ether on its bitcoin exchange.
(Additional reporting by Gertrude Chavez-Dreyfuss in New York; Editing by Lauren Tara LaCapra and Matthew Lewis) || Rocky Mountain Ayre Launches HempCoin: DOVER, DE--(Marketwired - Apr 21, 2016) - Rocky Mountain Ayre, Inc., a holding company ( OTC PINK : RMTN ), is pleased to announce that it has officially launched HempCoin, its Crypto-Currency, on two Crypto-Currency exchanges. President of RMTN, Tim Ayre, says, "We are extremely pleased to have started trading on two very well-known exchanges and we expect to trade on several more in the near future." The two exchanges trading HempCoins are C-Cex and Yobit . In addition, Ayre says, "We have completely remade our website, www.hempcoin.com . The website offers plenty of information for users looking to purchase or mine the coins. We wanted it to be sophisticated in scope yet still be user friendly and I believe we have succeeded there." Every 10 HempCoins are backed by 1 share of 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 Ayre, Inc. Rocky Mountain Ayre is a publicly traded company listed on the OTC markets 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 exchange Coinbase to add ether currency to trading platform: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin exchange Coinbase said on Thursday it will add digital currency ether on its trading platform next Tuesday. The addition of ether comes given the surge in interest in the digital asset among major financial institutions such as Barclays [BARCR.UL] and UBS [UBSAG.UL] as well as other enterprises worldwide like IBM, which are trying to explore the Ethereum network. Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum, which uses ether to execute peer-to-peer contracts automatically without the need for intermediaries, was co-founded and invented by 22-year old Russian Canadian programer Vitalik Buterin. "We're very excited about Ethereum. There has been a ton of progress made in the last six to nine months," said Adam White, vice president of business development at Coinbase in an interview with Reuters. "We have seen hundreds of emerging decentralized apps (applications) launched on Ethereum." He added that bitcoin cannot mirror Ethereum's "scripting language," so both bitcoin and ether can co-exist and will not necessarily compete with each other. Coinbase also plans to change the name of its platform to GDAX (Global Digital Asset Exchange), said White. The name Coinbase, however, will be retained for its retail service such as exchanging dollars for bitcoin or ether, he added. Coinbase, widely believed to be the largest bitcoin-focused company in terms of investment, will offer ether/dollar and ether/bitcoin currency pairs on GDAX. The name change was made because the company will add more digital assets for trading on its exchange, White said. According to coinmarketcap.com, ether is trading at $14.28 late on Thursday, with a market capitalization of about $1.1 billion, the second largest behind bitcoin. Bitcoin currently has a market cap of $6.9 billion. Daily volume for ether is around $48 million, while average daily volume for bitcoin is $87.2 million. At the beginning of the year, ether traded at just $1 per token and it is the fastest-rising digital currency. White said ether will be available on GDAX in most states except New York because Coinbase is still in the process of applying for a license in the state. Coinbase's move to add ether trading to its currency exchange platform came after New York approved the application of Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, to trade ether on its exchange. "What's powerful about ethereum is that I can write self-executing contracts and I can run them on Ethereum and it's not on any central server or computer," said White. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Bernard Orr) View comments
[Random Sample of Social Media Buzz (last 60 days)]
$421.54 at 16:30 UTC [24h Range: $418.00 - $421.99 Volume: 3043 BTC] || 1 KOBO = 0.00001091 BTC
= 0.0047 USD
= 0.9347 NGN
= 0.0685 ZAR
= 0.4758 KES
#Kobocoin 2016-04-16 13:00 pic.twitter.com/XguKmkVnsu || 1 KOBO = 0.00000800 BTC
= 0.0036 USD
= 0.7163 NGN
= 0.0527 ZAR
= 0.3639 KES
#Kobocoin 2016-05-04 03:00 pic.twitter.com/LrbdaKLq5D || 1 #BTC (#Bitcoin) quotes:
$449.27/$449.98 #Bitstamp
$445.35/$446.09 #BTCe
⇢$-4.63/$-3.18
$450.93/$451.00 #Coinbase
⇢$0.95/$1.73 || LIVE: Profit = $689.64 (8.57 %). BUY B19.49 @ $420.00 (#VirCurex). SELL @ $448.79 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || LIVE: Profit = $669.02 (8.32 %). BUY B19.49 @ $420.00 (#VirCurex). SELL @ $447.63 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || LIVE: Profit = $142.23 (8.12 %). BUY B4.53 @ $410.00 (#VirCurex). SELL @ $415.02 (#BitKonan) #bitcoin #btc - http://www.projectcoin.org || LIVE: Profit = $745.92 (9.31 %). BUY B19.39 @ $420.00 (#VirCurex). SELL @ $452.06 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || $416.98 at 01:30 UTC [24h Range: $412.00 - $416.98 Volume: 2404 BTC] || Current value of DOGE in BTC: Vircurex: 0.0000005 -- Volume: Today's trend: stable at 04/22/16 00:55
|
Trend: up || Prices: 442.68, 443.19, 439.32, 444.15, 445.98, 449.60, 453.38, 473.46, 530.04, 526.23
|
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 for 2016-11-07]
BTC Price: 703.13, BTC RSI: 59.08
Gold Price: 1278.30, Gold RSI: 47.45
Oil Price: 44.89, Oil RSI: 36.86
[Random Sample of News (last 60 days)]
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. 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) || NetCents Now Offering User Purchasing With Amazon, Overstock, Ebay, Shopify, Expedia: VANCOUVER, BC / ACCESSWIRE / September 20, 2016 /NetCents Technology Inc. (CSE: NC) ("NetCents" or the "Company")is pleased to announce that its users are now able to make purchases online with some of the biggest names in retailers and travel companies such as Amazon, Overstock, Ebay, Shopify, and Expedia.
NetCents newly updated and innovative Digital Payment Platform closes the loop in becoming a full service payment processor. NetCents users can now purchase online with many of the well-known names that accept digital currency for their goods and services. NetCents' easy to use digital platform offers streamlined digital currency purchasing to companies such as Amazon, Overstock, Ebay, Bloomberg, Shopify, Dell, and Expedia.
"NetCents users are already making purchases online from companies such as Overstock.com, Amazon, Expedia, which is another step in our accelerated initiatives to make NetCents an industry leader. Our comprehensive Digital Currency Platform streamlines merchant processing and consumer payments. Our system reduces fees while providing ample space for emerging and existing companies to evolve with the least amount of growing pains," commented Clayton Moore, CEO and Founder of NetCents. "Over the last 18 months NetCents has partnered and integrated with some of the world's largest exchanges, PayPal, Apple Pay and have opened up consumer deposits in 194 countries. NetCents is fully registered and licensed processor that offers the easiest and quickest way to buy, sell and purchase with digital currencies like Bitcoin. Positioning NetCents as an industry leader in the digital currency space."
About NetCents
NetCents is an electronic payments technology company offering consumers and merchants online services for managing electronic payments by a variety of payments methods through its processing platform. NetCents works with its financial partners, mobile operators, exchanges, etc. to streamline the process and user experience of transacting online. The NetCents platform is integrated into the Automated Clearing House ("ACH") through the Royal Bank of Canada ("RBC", "Royal Bank"). NetCents is available for deposits from 194 Countries around the World, providing you with the freedom to choose to Pay. Your Way.
For more information, please visit the corporate website atwww.netcents.bizor contact Robert Meister, Capital Markets at Ph: 604.676.5248 or email:[email protected].
On Behalf of the Board of Directors
NetCents Technology Inc.Clayton Moore, Founder/CEO
NetCents Technology Inc.Suite 1500, 885 West Georgia StreetVancouver, British Columbia V6C 3E8
The Canadian Securities Exchange has neither approved nor disapproved of the contents of this press release. Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakesno obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
SOURCE:NetCents Technology Inc. || BILL GROSS: Central bankers have turned the economy into a 'casino' that threatens capitalism: south korea casino (A poker game at the Paradise Walker-hill casino in Seoul in 2007.Reuters) Bill Gross is going after central bankers ... again. The famed bond investor at Janus Capital released his monthly outlook for October on Tuesday and again compared the world's central banks to a dangerous game, this time blackjack. Gross noted the theory of a martingale system, in which a gambler in a casino will eventually win if he or she continually increases the size of his or her bets with each loss. Gross then compared the world's largest central banks the Federal Reserve, the Bank of Japan, and the European Central Bank to such a gambler, calling them "martingale gamblers without a purse." "Our financial markets have become a Vegas/Macau/Monte Carlo casino, wagering that an unlimited supply of credit generated by central banks can successfully reflate global economies and reinvigorate nominal GDP growth to lower but acceptable norms in today's highly levered world," Gross wrote in the outlook . Gross noted that central banks theoretically could continue to print money, purchase assets, and drive down bond yields until they hit their goals, just as a martingale gambler with enough money could keep raising bets amid a series of losses. "An interesting counter to my martingale characterization of central bankers is in fact that they do have an unlimited bankroll and that they can bet on the 31st, 32nd, or 'whatever it takes' roll of the dice," Gross said . "After all, their cumulative balance sheets have increased by $15 trillion+ since the Great Recession. Why not $16 trillion more and then 20 or 30?" The issue, in Gross' opinion, is that these central banks do not work in a theoretical world and that the savings erosion from negative yields will eventually cause pain for investors and damage the world's financial markets. Here's Gross (emphasis added): "I think that the latter contention is true, but central bankers cannot continue to double down bets without risking a 'black' or perhaps 'grey' swan moment in global financial markets. At some point investors leery and indeed weary of receiving negative or near zero returns on their money, may at the margin desert the standard financial complex, for higher returning or better yet, less risky alternatives . Bitcoin and privately agreed upon block chain technologies amongst a small set of global banks, are just a few examples of attempts to stabilize the value of their current assets in future purchasing power terms. Gold would be another example historic relic that it is. In any case, the current system is beginning to be challenged. " Story continues All of this is to say that central banks cannot keep rates this low forever. But given that the Fed is already hiking and the ECB has recently signaled it may bring its asset purchases to an end, many central banks have already recognized this. Gross goes on to say low-interest-rate policies threaten "capitalism itself" because capital can no longer be efficiently allocated. "Central bankers have fostered a casino like atmosphere where savers/investors are presented with a Hobson's Choice, or perhaps a more damaging Sophie's Choice of participating (or not) in markets previously beyond prior imagination," Gross concluded . "Investors/savers are now scrappin' like mongrel dogs for tidbits of return at the zero bound. This cannot end well." NOW WATCH: KRUGMAN: Obamacare was done 'on the cheap' and now it is struggling More From Business Insider Here's why Janet Yellen might quit if Donald Trump wins Federal Reserve Chair Janet Yellen forgot a key measure of the job market during testimony to Congress A GOP congressman attacked Janet Yellen for looking 'cozy' with Obama and Democrats || 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) || PayPal's Biggest Threat Is Still Unknown, but It Is Out There: - By Nicholas Kitonyi PayPal ( PYPL ) is the world's largest online payments platform and its transition in the mobile payments market appears to be taking shape with user-friendly secure apps created for the main market drivers. At the end of May, I wrote a piece discussing how PayPal has been slimming up to optimize its operations around partnerships that provide a good case for sustainable growth. Warning! GuruFocus has detected 8 Warning Signs with MSFT. Click here to check it out. PYPL 15-Year Financial Data The intrinsic value of PYPL Peter Lynch Chart of PYPL It discontinued support for Blackberry 's ( BBRY ) OS with now only the mobile web version available on the ailing smartphone maker's devices. Microsoft 's ( MSFT ) Windows Phone OS and Amazon 's ( AMZN ) Fire Phone were also cut out as PayPal moved to focus on iOS and Android based platforms. This move appeared to make sense, and it still does. However, the company has also been making various changes to its user policy as it seeks to tighten security and increase restriction on who can and cannot use its online money transfer services. Currently, PayPal is only partially available in most of the emerging and developing countries. Its primary markets remain in North America and Western Europe, which at the moment offer a modest growth potential. Leading smartphone manufacturers Samsung Electronics (SSNLF) and Apple ( AAPL ) on the other hand, have realized there is a great opportunity up for the taking in these emerging markets and have moved to manufacture devices tailor-made for these markets. As such, PayPal should be ready to do the same if it is to maintain its global leadership in online payments in the foreseeable future. The company already faces competition from European-based players PaySafe Group (Skrill) ( PAYS.L ), Neteller, Worldpay Group ( WPG.L ) and several other localized platforms. This will make its presence in these countries difficult as most locals move to utilize the locally friendly alternatives. Story continues For instance, KIWI is currently a major threat in Australia and New Zealand, whereas Moneta.ru is the preferred choice for many in Russia. On the other hand, Ali Pay continues to dominate in China. That is not all, companies are now introducing alternatives which are backed by the emergence of cryptocurrencies in the financial markets. BitGold is a platform that allows people to store money in the form of gold bullion, but in this case, it has been made available to retail and individual investors. On the other hand, Bitcoin has also sparked the launch of several startups that seek to disrupt the payments industry. A good example is Paxful, which is a Bitcoin-based online payments platform that allows people to make payments online without the requirement of a bank account or credit card. Most of these platforms also support online gambling and financial trading, which give them the link to one of the world's largest marketplaces. In contrast, PayPal does not support payments for online gambling and financial trading platforms. This means that PayPal may not be able to access some users who prefer to put all their online payments business in one wallet. However, most users that prioritize on security might still end up putting PayPal ahead of the rest, which means that at the moment, it is hard to pinpoint a single alternative to PayPal that could be the online payments giant's main threat going forward. There are those who still think that Apple Pay and Alphabet 's ( GOOG ) ( GOOGL ) Google Wallet could spark the downfall of PayPal, especially given their massive user bases from other services they provide. However, these too are subject to stringent regulatory requirements which make it harder for them to provide their services in most countries. As such, with the U.S., the strictest nation when it comes to financial regulation accounting for just about 300 million worth of addressable market for online payments users, the larger cake is pretty much left for foreign players to cut their share. This means that while PayPal's main threat to its global domination is still unknown, we could safely say that it is out there. It could be Paxful, Skrill, Neteller or BitGold, among others. You never know, but it is out there. Conclusion In summary, PayPal's obstacles to maintaining its global domination of the online payments market are policy-based. All its users agree with the terms, but probably not everyone likes them. Tweaking the terms to accommodate the current outlier class could see the company lose most of its users, especially the ones that like the current terms. Therefore, the best card the company can play is to keep its services better than those of its rivals, but that can be replicated, especially given the fact we are currently in the age of "copy and paste" when it comes to innovation. Disclosure : I have no position in any stock mentioned in this article. Start a free 7-day trial of Premium Membership to GuruFocus. This article first appeared on GuruFocus . Warning! GuruFocus has detected 8 Warning Signs with MSFT. Click here to check it out. PYPL 15-Year Financial Data The intrinsic value of PYPL Peter Lynch Chart of PYPL || 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.
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) || 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 || ETF Winners and Losers If Dollar Rally Persists: October is shaping up to be a great month for the U.S. dollar. Month-to-date, the U.S. Dollar Index is up 3.4%, a sizable move for the world's most important currency. October's rally has pushed the buck into positive territory for the year, and to the highest level since February.
A Brexit-fueled slide in the British pound and growing expectations of a Federal Reserve rate hike in December are the two biggest drivers of the latest jump in the Dollar Index.
The dollar now finds itself near key levels that could turn out to be extremely meaningful not just for the currency itself, but for broader financial markets. Currently, the Dollar Index is trading at 98.6, less than 2% below the multiyear high of 100 set last year.
US Dollar Index
The Dollar Index ticks into the green for the year after surging 12.8% in 2014 and 9.3% in 2015.
"If it can break above that level in a meaningful fashion, it is going to be incredibly bullish for the dollar on a technical basis," wrote Matt Maley, equity strategist for Miller Tabak, in a recent research note.
Though Maley doesn't consider a Dollar Index "breakout" above 100 his base-case scenario, the fact that the index is so close to this key level means investors should at the very least be prepared for another big increase in the dollar.
Impact On Currency ETFs
In the ETF world, the most obvious impact from a dollar breakout will be oncurrency ETFs. The $863 millionPowerShares DB US Dollar Index Bullish ETF (UUP)(which tracks the U.S. Dollar Index), and the $217 millionWisdomTree Bloomberg US Dollar Bullish Fund (USDU)(which tracks the broader Bloomberg Dollar Index), both stand to benefit from gains in the greenback.
Certain ETFs tied to single-currency pairs will also benefit, such as theProShares UltraShort Euro ETF (EUO)and theProShares UltraShort Yen ETF (YCS), which provide 2x-leveraged exposure to the dollar against the euro and yen, respectively.
On the flip side, most of the other currency ETFs on the market provide investors with short dollar exposure and would likely get hit hard if the dollar continues to rally.
Currency-Hedged ETFs Back In Focus
A spike in the dollar will also putcurrency-hedged ETFsback in focus for investors. These ETFs were extremely popular in 2014 and 2015, when the dollar was surging, but fell out of favor this year, as the currency stalled.
For example, theWisdomTree Europe Hedged Equity Fund (HEDJ)was the most popular ETF of 2015, with inflows of $13.9 billion, according to FactSet. In sharp contrast, the ETF is 2016's least popular ETF, with outflows of $7.4 billion.
When the dollar is rising, vanilla funds with international exposure face pressure as their holdings―which are denominated in foreign currencies―lose value when translated back into dollars. Currency-hedged ETFs offset these losses by shorting the foreign currencies in question. In the case of HEDJ, it shorts the euro to offset the underlying long euro position of its equity holdings.
HEDJ, like other currency-hedged ETFs, tends to outperform its vanilla counterparts in a rising-dollar environment and underperform in a falling-dollar environment.
Pressure On Large-Cap Equity ETFs
Though currency-related exchange-traded funds will be the most impacted, any significant increase in the dollar will reverberate throughout financial markets.
Many U.S. companies will have to deal with a much more challenging export environment as a strong dollar makes them less competitive. Those same companies will see their overseas profits reduced when converted back into dollars.
Stocks of these multinationals tend to be concentrated in large-cap indexes such as the S&P 500 (the percentage of products and services produced or sold by S&P 500 companies outside the U.S. was 44.3% in 2015). Thus, ETFs such as theSPDR S&P 500 (SPY)could face head winds from the dollar's ascent.
In the fixed-income markets, a strong buck makes it more difficult for foreign governments and companies to service their dollar-denominated debt. In turn, ETFs such as theiShares JP Morgan USD Emerging Markets Bond ETF (EMB), which has seen a lot of interest this year, may stumble if the Dollar Index spikes well above 100.
Contact Sumit Roy [email protected].
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Permalink| © Copyright 2016ETF.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 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) || Flow's Summer and Back to School Initiatives Get Students Ready for the New Academic Year: MIAMI, FL--(Marketwired - Sep 19, 2016) - Thousands of students around the region are now primed for another school year, asFlowrolled out its summer camps and back-to-school initiatives around the Caribbean to support students and their families.
Each year, Flow, the regional communications and entertainment provider, partners with local and national community groups to host youth development camps that provide a positive and fun learning environment covering everything from sports, technology and career development. As students get ready for the new academic year, Flow has embarked on its annual Back-to-School initiatives across the region to ensure that students are well prepared to head back to the classroom.
Flow's Acting President, Michele English, stated, "We place a lot of emphasis on supporting and engaging youth throughout the Caribbean. We want to ensure that the programs we initiate are enjoyable and provide an environment that fosters learning and growth as we pursue our mission of 'Connecting Communities and Transforming Lives.'"
InBarbados, Flow teamed up with the Ministry of Community Development to facilitate an "IT for Teens Summer Program" to sharpen kids' computer skills. The Company also launched a 'Flow Vision Summer Student Experience' giving teens invaluable insight into potential careers in Sales, Marketing, Accounts, Finance, Human Resources, Legal, Regulatory, IT, and Corporate Communications. Similarly, inSt. Vincent, Flow hosted itsAnnual Internet Summer Schoolprogram for children eight and older to teach them how to unlock the potential of the Internet.
InSt. Lucia, the focus was on the classroom of play. There, Flow teamed up with the Ministry of Youth Development and Sports to host the'758 Champions Tour,' which gave sixth grade students a chance to meet with members of the island's Olympic team. They learned from past and present Olympians -- about the importance of discipline and character, not just in sports, but also as an approach to life.
Then, just prior to the start of the new academic year, Flow launched its annual Back-to-School initiatives across the Caribbean.
InJamaica, Flow held its 7thannualSkool Aidevent -- the biggest back-to-school fair in the Caribbean that drew more than 30k children, parents and guardians this year. The highly anticipated event is a place where children get free medical and dental examinations; free haircuts and beauty consultations; free book bags and lunch kits; and discounted school supplies. The event helps ensure that students have what they need to head back to the classroom. After this year's event, one newspaper reported, "several parents praised Flow...saying the fair helped to ease the financial burden of back-to-school expenses."
English added, "We are confident it's going to be a great year for Caribbean youth heading back to the classroom eager to embrace their education and experiences. We are proud to be a part of the process. The entire Flow family extends our best wishes for a successful school year to the children, teachers, school administrators and parents all around the Caribbean."
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) (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.
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[Random Sample of Social Media Buzz (last 60 days)]
#ChainCoin #CHC $0.000083 (0.58%) 0.00000013 BTC (-0.00%) || 1 #bitcoin = $11720.00 MXN | $627.73 USD #BitAPeso 1 USD = 18.67MXN http://www.bitapeso.com || Send 1.0 - 4.9 BTC today, get 20.00 - 98.00 BTC in 20 hours,france is going broke. http://ow.ly/UFIF304L4nP || #ChainCoin #CHC $0.000183 (151.69%) 0.00000030 BTC (150.00%) || Bitfinex to Hacker: Can We Have Our Bitcoin Back? http://bit.ly/2eCmLqG || 1 #bitcoin = $11809.00 MXN | $606.01 USD #BitAPeso 1 USD = 19.49MXN http://www.bitapeso.com || 現在の価格は 62126円(http://blockchain.info )です。前回比は0円(0.00%)です。http://konvert.in/currency/1-bitcoin-to-japanese-yen … #ビットコイン #bitcoin via @konvertin || #UFOCoin #UFO $0.000007 (0.49%) 0.00000001 BTC (-0.00%) || #Bitcoin Decentralized Sports Platform FirstBlood Raises 465,312.00 ETH, Set To Improve eSports http://bit.ly/1Tjrlr9 || 1 KOBO = 0.00000250 BTC
= 0.0015 USD
= 0.4568 NGN
= 0.0207 ZAR
= 0.1518 KES
#Kobocoin 2016-09-29 13:00 pic.twitter.com/twp4zc9bJj
|
Trend: up || Prices: 709.85, 723.27, 715.53, 716.41, 705.05, 702.03, 705.02, 711.62, 744.20, 740.98
|
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 2018-03-08]
BTC Price: 9395.01, BTC RSI: 41.48
Gold Price: 1319.90, Gold RSI: 47.59
Oil Price: 60.12, Oil RSI: 40.53
[Random Sample of News (last 60 days)]
Another Bank Says Its Credit Cards Can't Be Used to Buy Bitcoin: The U.K. banking group Lloyds has banned its customers from using their credit cards to buy bitcoin and other cryptocurrencies.
The move comes just a couple days after U.S. banks—fromBank of Americaand J.P Morgan toCitigroup, Discover and Capital One—told their customersnot to buy virtual coins on credit.
“Across Lloyds Bank, Bank of Scotland, Halifax and MBNA, we do not accept credit card transactions involving the purchase of cryptocurrencies,” Lloyds Banking Group said in a statement.
According toThe Telegraph, the ban will be enforced through the use of a blacklist of cryptocurrency sellers.
The bank is, in common with its American counterparts, concerned about people using its credit facilities to buy cryptocurrencies and then not being able to pay back the loan, due to rapid depreciation in the virtual currencies.
That depreciation is on full display at the moment and not being helped by big banks turning against bitcoin. However, regulatory crackdowns—most recently inChinaandIndiaappear to be the prime causes ofbitcoin’s current slide.
Facebookalso caused jitters bybanning ads promoting cryptocurrencies and initial coin offerings (ICOs)on the world’s largest social network.
At the time of writing, one bitcoin was worth around $7,720, representing a mighty fall since it neared $20,000 in early December. || Finding Shareholder Rewards In A Small-Cap ETF: Small-cap stocks are not always thought of as prime destinations for shareholder rewards like dividends. Rather, investors often prize smaller stocks for compelling growth prospects. Some exchange traded funds help investors access small caps while bolstering income.
TheWisdomTree U.S. SmallCap Quality Dividend Growth Fund(NASDAQ:DGRS) gives investors access to a universe ofdividend-paying small-cap stocks. Not only that, but DGRS components are positioned to show consistent growth in their payouts going forward. The index DGRS tracks has a dividend yield of 2.36 percent, above the dividend yields on major U.S. small-cap benchmarks, but not so high as to imply negative dividend actions are imminent.
Obviously, DGRS is positioned as a dividend ETF, but there is more to the fund's shareholder rewards story, including access to smaller companies that are buying back their own stock.
A Buyback Story
Historical data suggest smaller companies with the ability to repurchase their own shares generate strong returns for investors.
The highest return was found in the smallest companies with net buybacks,” according toWisdomTree research. “While the small cap or 'size'premiumhas been followed for many years, newer thinking seeks to mix the concept of focusing on small stocks with other factors, such as quality. One avenue ... to create a small-cap exposure with high quality is small stocks that are buying back shares.”
Conversely, small caps that consistently issue new shares, potentially a sign of financial weakness, lag their buyback counterparts.
The index DGRS tracks “focuses on long-term earnings growth, as well as three-year averages of return on equity and return on assets,” according to the issuer.
Increasing Shareholder Yield
The combination of dividends and buybacks sends the shareholder yield on DGRS well above broader small-cap benchmarks. The ETF's trailing 12-month shareholder yield is almost 3.2 percent, compared to just 0.85 percent on the S&P SmallCap 600 Index.
“We would expect the WisdomTree U.S. SmallCap Quality Dividend Growth Index to rival any U.S. small-cap equity index on a shareholder yield basis,” said WisdomTree. “First, it focuses on dividend payers and is weighted by theDividend Stream, thereby raising the dividend yield portion of the equation.”
DGRS holds nearly 300 stocks, over 49 percent of which hail from the industrial and consumer discretionary sectors.
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© 2018 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || M.I.T. Researchers: U.S. Oil Production Estimates May Be Flawed: There's something odd about the U.S. oil production boom. Yes, the U.S. is now a player on the world energy stage, producing enough to strike fear into the hearts of OPEC 's member states. Crude oil production in the U.S. has practically doubled in just 10 years and is now approaching the production levels of OPEC's leader, Saudi Arabia. US Crude Oil Production Chart US Crude Oil Production data by YCharts . That the shale revolution changed the very fabric of the American oil industry is an understatement. Until the ability to frack rock and drill horizontally came along, U.S. oil production had been on a slow, downward slog from its peak in the early 1970s. Now, the sky is the limit -- with the president of the United States calling for U.S. energy independence. But according to researchers at the Massachusetts Institute of Technology (MIT) , there is something very wrong with these calls for ever-expanding U.S. production. In fact, the party may be over far sooner than anyone can imagine. What happens when you assume Oil producers and investors have lots of data sources. Geologic data, core samples, and estimates put together by experts are all on the table in the search for crude. One of the primary data sources for all stakeholders is a government agency: The U.S. Energy Information Administration (EIA). The EIA is the entity that puts out weekly oil supply and demand data, as well as the all-important oil and petroleum inventory statistics. The agency also puts out longer-term projections for oil production in the U.S. At present, the EIA's forecasts for long-term U.S. oil production growth are pretty bullish: Total crude oil and lease condensate production estimates through 2050. Image source: U.S. Energy Information Administration 2017 Annual Energy Outlook . Naturally, something as big as the shale revolution calls for some research. Two MIT researchers, Francis O'Sullivan and Justin Montgomery, dove into the data behind the EIA's long-term estimates. What they found when they analyzed the EIA's data left them scratching their heads. Story continues They noticed that the administration was being aggressive in its assumptions of well productivity. The shale revolution is, at its base, built on bringing advanced technologies to an old business. In its reports, the EIA assumes the average productivity of individual wells will continue unabated. As the well-known investing caveat goes, past performance is not indicative of future results. And yet that's precisely what the EIA is banking on. Oil rigs at sunset. Could the sun be setting on the shale revolution? Image Source: Getty Images. As detailed in a recent article by Bloomberg , Montgomery and O'Sullivan dug into the data on ground zero of the shale revolution: North Dakota's Bakken deposit. North Dakota has been one of the significant beneficiaries of the shale revolution. Oil that was once thought to be impossible to produce burst forth. But by tweaking the EIA's assumptions using well data from the Bakken, the two researchers found that total production from new wells could undershoot the EIA's estimates by a wide margin -- as much as 10%. How soon? By 2020, just three years from now. All the more interesting, the EIA couldn't dispute the researchers' questions. When queried via email by Bloomberg, an EIA scientist in charge of oil, gas, and biofuels exploration and production analysis, Margaret Coleman, granted that MIT's study "raises valid points." So are we back to importing most of our oil? In the EIA's defense, when dealing with something so complicated, some underlying assumptions are inevitable. In her response, Coleman pointed out to Bloomberg that few oil fields have the detailed well data that MIT used to question the EIA's estimates. This raises a fair question: What should the EIA do in the absence of detailed data? The other criticism of the MIT researchers' report has, no doubt already occurred to you: Don't bet against technology. Technological advances often come out of nowhere to change the world. Who's to say that profit-seeking oil companies won't wrench ever-increasing amounts of oil out of the ground? Yet Montgomery and O'Sullivan point out that many shale drillers have increased productivity over the past three years by focusing on "sweet spots" -- not true efficiency gains. This is an intriguing idea and suggests that investors might want to focus on the shale drillers that truly have an edge up on the competition. Foolish takeaway Despite the valid points brought up by the M.I.T. researchers, there just isn't enough hard-data to truly make actionable decisions from their findings. Yes, future oil production estimates are based on assumptions. But to truly know whether or not we should be worried about future oil production falling short, we would have to have high-quality data on the countless wells in the shale patch -- no easy thing. It's why the EIA has to make estimates in the first place. The best thing for oil & gas investors to do in a world of uncertainty is to focus on oil stocks with high-quality management, overseeing businesses that are not solely reliant on continued production and efficiency gains to reward shareholders over the long term. 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 Sean O'Reilly 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 . || £4bn of illegal money hidden in cryptocurrencies - Europol: Cryptocurrencies such as bitcoin are being exploited by criminal gangs, warns Europol (Getty Images) Billions of pounds of illegal money is being laundered through cryptocurrencies by criminal gangs, the head of Europe’s top policing agency has warned. Rob Wainwright, boss of Europol, estimates that at least €5.5bn (£4bn) of all criminal proceeds in Europe are being funnelled through currencies like bitcoin. That represents about 4% of all money generated through criminal enterprises such as illegal gambling, prostitution, extortion, fraud etc. MORE: Here are the world’s top 10 cryptocurrency billionaires, as ranked by Forbes Wainright told a BBC Panorama investigation: “It’s growing quite quickly and we’re quite concerned. “They [cryptocurrencies] are not banks and governed by a central authority so the police cannot monitor those transactions. “And if they do identify them as criminal, they have no way to freeze the assets unlike in the regular banking system.” At least £4bn of illegal money is being moved through virtual money (Getty Images) Unlike traditional coinage, digital coins are created and “mined” by computers running complex mathematical equations. The transactions use virtual addresses, hiding individual identities – and they are not regulated or controlled by banks or financial authorities. Criminals have moved into exploit this anonymous and unregulated space. MORE: Sweeping new cryptocurrency trading rules come into force There are more than 1380 cryptocurrencies in existence, the most notable of which are the likes of bitcoin, ethereum and ripple. Some virtual currencies such as bitcoin have exploded in value over the past year to 18 months. Their value has soared and dived in recent weeks – at the end of last year, bitcoin was trading at almost $20,000, but is now hovering around $8,670 (£6,270). A number of countries and their financial regulators have voiced concerns about these virtual currencies being exploited by criminals through fraudulent trading or to launder the proceeds of crime. South Korea has taken the most drastic action to date , imposing a regime where only named, traceable accounts can trade cryptocurrencies. Story continues But it is the area of laundering money that is Europol’s chief worry. Rob Wainwright, director of Europol, says “money mules” are also being used to convert illegal money into bitcoin and back again (AFP Photo/Jerry Lampen) Wainwright said police were seeing money “in the billions” generated from street sales of drugs across Europe converted into bitcoins. He said some criminal enterprises were using “money mules” were being used to convert smaller amounts of cryptocurrency into regular money and passed back as “washed” cash to the gangs. MORE: Nine out of 10 cryptocurrency firms will fold, says Dogecoin founder Europol’s warning comes after it was revealed almost 5,000 websites, including some UK government-run sites, have been injected with code designed to hijack visitors’ computers to mine for cryptocurrency. Security researcher Scott Helme identified the BrowseAloud plugin , which helps make websites more accessible to visually impaired people, as the source of the cryptojacking attacks. Texthelp, the company which makes the plugin, confirmed BrowseAloud was affected for four hours by malicious code designed to generate cryptocurrency. “ Who Wants to be a Bitcoin Millionaire? ” airs on BBC One on 12 February at 20:30 GMT. || Good News: More Than 75% of Americans Are Saving in Some Capacity: As a personal-finance writer, I often have to report on the negative stuff -- the fact that most Americans haveinadequate savingsand are misguided when it comes to retirement. So it's always a nice breath of fresh air when I get to deliver somegoodnews, and this time, it's that over 75% of U.S. adults are making an effort to save money in some shape or form. That's the latest from aDiscover study, which also found that millennials have the highest personal savings rate across all age groups.
Still, I'd be remiss if I didn't also highlight the fact that a large chunk of Americans continue to ignore their savings. Specifically, 19% of millennials aren't putting money away on the regular, and the same holds true for 26% of Gen Xers and 23% of baby boomers. And those are the folks who need to change their ways if they want a shot at financial stability in the near term, and the option to actually retire in the future.
IMAGE SOURCE: GETTY IMAGES.
First, let's talk near-term savings, because they should take priority over all else, including retirement. As a general rule, you should aim to have anywhere from three to six months' worth of living expenses available in an accessible savings account, no matter your age or income level.
Why that much? It's simple. No one is immune toemergencies. You never know when you might lose your job, fall ill, or come home to a busted heating system that costs several thousand dollars to repair. And if you don't have any money in the bank to cover the unexpected, you'll risk racking up costly credit card debt and the consequences that come with it.
A better bet? Establish that safety net, even if it means cutting expenses for a number of months to get there sooner. Another option? Work aside gig. That way, the extra money you take in can go directly into savings, since you shouldn't be counting on it to pay your living costs.
Now let's talk retirement savings, and the fact that you'll need some if you want to live comfortably as a senior. Many people assume they don't need to save for retirement because Social Security will be there to cover their costs. But that's nothow Social Security works.
In a best-case scenario, Social Security will replace about 40% of the typical senior's pre-retirement income. Most folks, however, need 80% of their former earnings to cover their costs in retirement, and these aren't the people who taking monthly cruises or spending their days on the golf course. Rather, they're the ones who simply need money to pay for their basic necessities, like housing,healthcare, clothing, and food.
So where will that money come from? You guessed it -- your savings, which is why you need to start socking money away as early as right now. The more time you give your nest egg to grow, the more income you'll have available when you really need it.
Remember, when you save for retirement in an IRA or 401(k), your cash doesn't just sit there doing nothing. Rather, you get the option to invest that money at what could be some pretty sizable returns.
Check out the following table, which shows how your nest egg might fare if you start contributing to it at various ages:
[{"25": "30", "$622,000": "$413,000"}, {"25": "35", "$622,000": "$272,000"}, {"25": "40", "$622,000": "$175,000"}, {"25": "45", "$622,000": "$110,000"}, {"25": "50", "$622,000": "$65,000"}]
TABLE AND CALCULATIONS BY AUTHOR.
Notice that these figures assume a mere $200 monthly contribution. That's nowhere close to what IRAs and 401(k)s allow for today. With the former, you can set aside up to $5,500 a year if you're under 50, and $6,500 a year if you're 50 or older. If you have access to a 401(k) through your job, you have an even greater opportunity to save, since the annual limits just climbed to $18,500 for workers under 50, and $24,500 for the 50-and-over set.
Now if you're able to max out either type of account throughout your career, you stand to retire with some pretty serious money. But if you can't max out, which is the case for most folks, do the best you can. As long as you contribute consistently, you stand to benefit from a respectable amount of growth.
While it's encouraging to see that so many Americans are making an effort to save money, there's still a good chunk of the population with work to do. So if you've been neglecting your near-term and long-term savings, it's time to get moving. And tell your friends to do the same, because if all goes well, come this time next year, I just might get to write a very different story.
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The Motley Fool has adisclosure policy. || This 11% Yielder Just Became a Bit Less Risky: With a yield north of 11% and a dirt-cheap valuation,Energy Transfer Partners(NYSE: ETP)offersmouth-watering reward potential. With an enormous debt load and a massive backlog of expansion projects to finance, though, the risk is just as big as the reward. As a result, Energy Transfer Partners isn't for the faint of heart.
That said, after agreeing to sell its natural gas compression business toUSA Compression Partners(NYSE: USAC)for $1.8 billion, it has taken another small step toward reducing its risk. While it's not in the clear just yet, the move does make it a bit less likely that the company will ultimately need to reduce its lucrative distribution to investors.
Energy Transfer dialed back its risk a little bit with this deal. Image source: Getty Images.
Energy Transfer Partners plans to sell its entire natural gas compression services business to USA Compression Partners. The business, which compresses natural gas to a smaller volume resulting in higher pressure, enables higher-pressure gas to flow through pipelines to end markets. In exchange, Energy Transfer Partners will receive $1.225 billion in cash along with 19.2 million of USA Compression Partners' common units and another 6.4 million Class B units, which won't pay cash distributions for the first year after closing when they will then convert to common units. In addition, Energy Transfer's parent company,Energy Transfer Equity(NYSE: ETE), will acquire the general partner of USA Compression as well as 12.5 million common units for $250 million in cash.
That cash infusion will enable Energy Transfer Partners to pay down some of its debt, which stood at $33.6 billion at the end of the third quarter, resulting in an elevated leverage ratio of 4.92 times debt toEBITDA. While that's down from a concerning 5.74 times at the start of last year, it's still quite a distance from the company's 4.0 times target, though this deal does take it one step closer. Meanwhile, in addition to that cash infusion, Energy Transfer will receive cash distributions from USA Compression on the units it gets this year, with more cash flowing its way starting in 2019 when the Class B units convert.
Image source: Getty Images.
While this transaction will help chip away at Energy Transfer's debt, it won't completely solve all the company's problems. One of the biggest in the near term is finding funding for its current slate of expansions -- $10 billion worth of growth projects are expected to go into service by early next year. While it has prefunded a majority of its capital needs this year, it still has to bridge the rest of that gap, which it can't do with debt given its elevated leverage ratio.
In addition to navigating that tight financial situation, the company is one of the few remaining master limited partnerships still paying costlyincentive distribution rights(IDRs) to its parent company. That said, Energy Transfer has repeatedlysaidthat it has no plans to undertake an internal restructuring transaction with Energy Transfer Equity until late 2019. That leaves nearly two years of uncertainty on how the company will ultimately address the situation, with many investors fearing that a future transaction will eventually result in a distribution cut given its currently tight coverage ratio.
Energy Transfer Partners continues to take the steps needed to shore up its financial situation, with the USA Compression Partners transaction being the latest move forward. However, it still has much farther to go before its balance sheet will be back on solid ground, and it needs to figure out how best to address those costly IDRs. Until it deals with both issues, this high yield remains too risky, especially when there aresafer options out there.
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Matthew DiLallohas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || 3 ETF-Based Ways to Leverage Your 60/40 Without Margin: This article was originally published onETF Trends.com.
By Justin Sibears,Newfound Research
This post ended up being more timely than we could have ever imagined as Credit Suisse announced that it wouldaccelerate XIV's maturityafter the ETN lost more than 90% of its value from Friday's close.
We are leaving the post up for transparency and to highlight the importance of fully understanding the risk of any investment. We tried our best in the original post to clearly describe the downsides associated with using inverse volatility strategies. We have a saying at Newfound that "risk cannot be destroyed, only transformed." Part of living with that statement in mind is being aware that (a) there are always risks associated with an investment and (b) just because you may not be able to spot the risk doesn't mean they aren't there. In fact, if you can't spot the risk, you are probably better off staying away entirely.
Two other observations:
1. I had CNBC on for most of the day today. Predictably, the talking heads were doing quite a bit of extrapolating. They used XIV's failure as an opportunity to criticize ETPs generally. XIV behaved exactly as we would have expectedgiven what went on in the market. XIV is designed to deliver inverse exposure to a weighted average of the front two months of VIX futures contracts. This is exactly what it did. The events of the last two days did not unearth some unknown risks of ETNs and it certainly should not cause any alarm for holders of plain vanilla ETFs like SPY.
2. CNBC also placed plenty of blame on "leverage" generally. Leverage is just a tool. It isn't inherently good or bad. Sure, when used irresponsibly, it can lead to disaster. However, when used prudently and in moderation it can be very useful, especially when used to move investors towards more risk efficient, diversified portfolios. Just two quick examples of this. First, the levered ETF portfolio we discussed, despite being leveraged, actually outperformed SPY due to the diversification provided by Treasuries. Second, the most well-known risk parity funds, most of which use leverage, also outperformed equities due to their superior diversification profile.
Summary
• We believe that capital efficiency should remain a paramount objective for investors.
• The prudent use of leverage can help investors employ more risk efficient portfolios without necessarily sacrificing potential returns.
• Many investors, however, do not have access to leverage (be it via borrowing or derivatives). They may, however, have access to leverage via the variety of ETFs and ETNs available in the market.
• We explore three ways that investors could do this using high beta ETFs, levered ETFs, and derivative ETNs.
• Each method comes with its own set of risks, but these options provide investors with practical ways to convert high risk-adjusted returns into higher absolute returns without borrowing money or using margin.
Over the last few months, we’ve been advocating strongly for capital efficiency as a way to deal with potentially muted returns in major asset classes over the next decade. InPortable Beta: Making the Most of the Returns You’re Already Getting[1], we laid out four ways that investors can achieve greater efficiency:
1. Reduce fees to take home more of what you earn.
2. Express active views more purely so that we are not caught paying active management prices for closet beta.
3. Focus on risk management by “diversifying your diversifiers” with strategies like trend following that can help increase exposure to higher return asset classes without necessarily increasing the overall portfolio risk profile.
4. Utilize modest leverage so that investors can create more risk-efficient portfolios without necessarily sacrificing potential return.
InLevered ETFs for the Long Run[2], we focused on the last approach: introducing modest leverage. Acknowledging that many investors do not have access to traditional tools for achieving leverage (e.g. margin, derivatives), we explored the common criticisms of levered ETFs and demonstrated how they may be used in the context of a portfolio to introduce diversifying exposure without necessarily sacrificing returns.
Continued innovation in exchange traded products means that in reality there are actually a number of ways that we can introduce leverage into a balanced portfolio without any direct borrowing. In this week’s commentary, we evaluate three approaches:
• High Beta ETFs
• Levered ETFs
• Derivative ETNs
We will describe each of these strategies in subsequent sections.
Our Benchmark
To evaluate each strategy, we will use a 1.7x levered 60/40 portfolio as the benchmark. The 60/40 portfolio consists of a 60% allocation to the SPDR S&P 500 ETF (SPY) and a 40% allocation to the iShares 7-10 Year Treasury ETF (IEF). We choose 1.7x leverage as, with the benefit of hindsight, this leads to equity-like volatility over the period studied. We consider daily, monthly, quarterly, and annual reset versions of this benchmark[3].
We can see that the leverage reset frequency does not materially impact risk or return. Therefore, we will simply use the monthly reset version going forward in the interest of simplicity.
[caption id="attachment_218476" align="aligncenter" width="1125"]
Source: CSI, Bloomberg. Calculations by Newfound Research. Data covers the period from December 2005 to December 2017. Index returns are hypothetical and backtested. Fees for underlying exposures are netted out, but no other fees (advisor fees, trading costs, etc.) are accounted for. Returns include the reinvestment of dividends. The cost of leverage is applied daily assumed to be the 3-month Treasury Bill Rate plus a spread of 1.00%. Returns are not reflective of any strategy managed by Newfound. Past performance does not guarantee future results.[/caption]
Strategy #1: High Beta ETFs
This strategy does not use any leverage or derivatives, but rather replaces SPY and IEF with higher beta stock and bond exposures. We replace SPY with the PowerShares S&P 500 High Beta ETF[4] (SPHB) and IEF with the iShares 20+ Year Treasury ETF (TLT). In other words, we move from market-cap weighted equities to equities with betas in the top 20% of the S&P 500 and from intermediate to high-duration bonds Treasuries.
This approach to introducing leverage is far inferior to actual leverage of the benchmark 60/40 portfolio.
[caption id="attachment_218477" align="aligncenter" width="1632"]
Source: CSI, Bloomberg. Calculations by Newfound Research. Data covers the period from December 2005 to December 2017. Index returns are hypothetical and backtested. Fees for underlying exposures are netted out, but no other fees (advisor fees, trading costs, etc.) are accounted for. Returns include the reinvestment of dividends. The cost of leverage is applied daily assumed to be the 3-month Treasury Bill Rate plus a spread of 1.00%. Returns are not reflective of any strategy managed by Newfound. Past performance does not guarantee future results.[/caption]
These results should not be too surprising. After all, we are taking the wrong side of the well-documented low volatility factor. Decades of evidence suggest that lower beta stocks and lower duration bonds offer a superior risk-adjusted return profile relative to their higher volatility counterparts. The lower Sharpe ratios of higher beta securities creates a significant headwind. As we increase our beta, and with it our portfolio volatility, our expected return per unit of risk goes down. Therefore, while we are taking more risk, our actual compensation for it may not even exceed the expectation of a non-levered portfolio.
A 60/40 portfolio of a low volatility equity ETF and a lower duration bond ETF and levered up to the same volatility as the 1.7x 60/40 portfolio would likely generate higher returns.
[caption id="attachment_218479" align="aligncenter" width="1125"]
Source: Fama/French data library. Calculations by Newfound Research. Data covers the period from August 1963 to December 2017. Index returns are hypothetical and backtested. Returns are gross of all fees and expenses. Returns include the reinvestment of dividends. Returns are not reflective of any strategy managed by Newfound. Past performance does not guarantee future results.[/caption]
Strategy #2: Levered ETFs
In this strategy, we replace SPY and IEF with 2x levered versions. As an example, this strategy could be implemented using the ProShares Ultra S&P 500 (SSO) and the ProShares Ultra 7-10 Year Treasury (UST). For this analysis, we replicated[5] SSO and UST since they did not launch until 2006 and 2010, respectively.
This effectively creates 2x levered exposure to a 60/40. As a result, it has significantly higher volatility than our 1.7x levered benchmark. To make our comparisons apples to apples, we blend the Levered ETF 60/40 with the unlevered 60/40 so that the overall portfolio volatility matches that of our benchmark.
[caption id="attachment_218481" align="aligncenter" width="768"]
Source: CSI, Bloomberg. Calculations by Newfound Research. Data covers the period from December 2005 to December 2017. Index returns are hypothetical and backtested. Fees for underlying exposures are netted out, but no other fees (advisor fees, trading costs, etc.) are accounted for. Returns include the reinvestment of dividends. The cost of leverage is applied daily assumed to be the 3-month Treasury Bill Rate plus a spread of 1.00%. Returns are not reflective of any strategy managed by Newfound. Past performance does not guarantee future results.[/caption]
The Levered ETF portfolio actually does quite well relative to the benchmark. In fact, of the 104bps lag in annualized return, about half can be attributed to the higher management fees on SSO/UST relative to SPY/IEF.
[caption id="attachment_218482" align="aligncenter" width="768"]
Source: CSI, Bloomberg. Calculations by Newfound Research. Data covers the period from December 2005 to December 2017. Index returns are hypothetical and backtested. Fees for underlying exposures are netted out, but no other fees (advisor fees, trading costs, etc.) are accounted for. Returns include the reinvestment of dividends. The cost of leverage is applied daily assumed to be the 3-month Treasury Bill Rate plus a spread of 1.00%. Returns are not reflective of any strategy managed by Newfound. Past performance does not guarantee future results.[/caption]
Strategy #3: Derivative ETNs
In this strategy, we replace SPY and IEF with ETNs that offer exposure to derivatives-based indices whose returns are correlated to those of traditional stocks and bonds.
On the equity side, we focus on inverse volatility strategies. Specifically, we will consider the index[6] tracked by the VelocityShares Daily Inverse VIX Short-Term ETN (XIV). XIV offers exposure to a rolling short position in VIX futures and is therefore “short volatility.”
The correlation between monthly excess returns for XIV’s underlying index and SPY is 0.77. The beta of the index to SPY is 3.4 and so it certainly offers a form of leveraged exposure to the equity market.
[caption id="attachment_218484" align="aligncenter" width="768"]
Source: CSI, Bloomberg. Calculations by Newfound Research. Data covers the period from December 2005 to December 2017. Index returns are hypothetical. Fees for underlying exposures are netted out, but no other fees (advisor fees, trading costs, etc.) are accounted for. Returns include the reinvestment of dividends. Past performance does not guarantee future results.[/caption]
On the bond side, we use the Janus Velocity Short LIBOR Index. This index is tracked by the VelocityShares Short LIBOR ETN (DLBR), a new offering launched in August of last year. The index provides long exposure to the first 8[7] quarterly Eurodollar futures contracts.
Eurodollars are unsecured time deposits held outside of the U.S. (including by foreign branches of U.S. banks) and denominated in U.S. dollars. Even though these deposits are held outside of the U.S., they are still a key funding source for U.S. banks since banks can borrow offshore in the Eurodollar market and then transfer funds onshore. In fact, U.S. banks generally consider funding through Fed Funds and Eurodollars as close substitutes. LIBOR is the implied interest rate at which banks in London offer Eurodollars.
Eurodollar futures contracts are quoted as 100 minus LIBOR. As an example, if LIBOR for a particular maturity is at 1.25%, the contract will be quoted at 98.75. As such, being long Eurodollar futures is equivalent to being short LIBOR (i.e. we profit when rates go down), just like standard bond positions.
The specific number of Eurodollar futures contracts held is calculated such that the index delivers a return equal to the weighted average percentage change in LIBOR across the maturities held. Note that we can think about this as if we have exposure to the 1-Year Spot LIBOR index.
As an example, if rates fall 25bps from 5.00% to 4.75%, the index will return approximately 5.00% (0.25% / 5.00%). When rates are lower (higher), the impact of the same 25bps move will be higher (lower). A 25bs decrease with rates starting at 10.00% will produce a gain of 2.50%. A 25bps decrease with rates starting at 2.50% will produce a gain of 10.00%.
This payoff structure creates issues when rates are low. To mitigate this, the index linearly reduces its exposure to rate moves below 2.50%; the exposure is 100% when the 1-year spot LIBOR index is at 2.50% and 0% when the 1-year spot LIBOR is at 0.00%.
The following table illustrates the gain/loss realized from a +/- 25bps move at various starting rate levels.
[caption id="attachment_218485" align="aligncenter" width="768"]
In the backtest, the index boasts a 0.71 correlation to IEF and 2.9 beta to IEF, suggesting potential usefulness as levered bond exposure.One important thing to keep in mind with DLBR is that because of how its payoff is structured relative to LIBOR, its volatility profile could change materially depending on LIBOR’s level. Assuming that LIBOR volatility was constant over time, we would expect DLBR’s volatility to be relatively lower when LIBOR was below 2.5% (where the participation rate is reduced), highest when LIBOR is just above 2.5%, and then declining as LIBOR rises. In reality, rate volatility is not constant, but nevertheless the pattern still roughly holds when we approximate returns by applying the payoff formula to historical 1-year LIBOR[8].[/caption]
[caption id="attachment_218486" align="aligncenter" width="768"]
Source: CSI, Bloomberg. Calculations by Newfound Research. Data covers the period from December 2005 to December 2017. Index returns are hypothetical. Fees for underlying exposures are netted out, but no other fees (advisor fees, trading costs, etc.) are accounted for. Returns include the reinvestment of dividends. Past performance does not guarantee future results.[/caption]
A 60/40 blend of the indices tracked by XIV and DLBR delivers very strong risk-adjusted returns, albeit with nearly 3x more volatility than SPY (40.9% annualized volatility vs. 14.5% for SPY). As we did with the Levered ETF strategy, we blend the XIV/DLBR portfolio with the unlevered SPY/IEF 60/40 in a proportion that has the same volatility as SPY. Note that we do this with the benefit of hindsight. In reality, we would have to estimate future volatility. However, we use this approach for easier performance comparisons. The Derivative 60/40 delivers 2.6% more annualized return than the benchmark and a nearly 30% reduction in drawdown.
[caption id="attachment_218487" align="aligncenter" width="768"]
Source: CSI, Bloomberg. Calculations by Newfound Research. Data covers the period from December 2005 to December 2017. Index returns are hypothetical. Fees for underlying exposures are netted out, but no other fees (advisor fees, trading costs, etc.) are accounted for. Returns include the reinvestment of dividends. Past performance does not guarantee future results.[/caption]
[caption id="attachment_218488" align="aligncenter" width="768"]
Source: CSI, Bloomberg. Calculations by Newfound Research. Data covers the period from December 2005 to December 2017. Index returns are hypothetical. Fees for underlying exposures are netted out, but no other fees (advisor fees, trading costs, etc.) are accounted for. Returns include the reinvestment of dividends. Past performance does not guarantee future results.[/caption]
Of course, this type of reward doesn’t come without any additional risk. In this case, the main risk is summed up nicely from this line in XIV’s prospectus[9]:
“The long term expected value of your ETNs is zero. If you hold your ETNs as a long-term investment, it is likely that you will lose all or a substantial portion of your investment.”
Why is this the case?
As mentioned earlier, XIV provides 1x short exposure to 1-month VIX futures, reset daily. Therefore, if 1-month[10] VIX futures rise by 100% or more, XIV will go to $0, losing 100% of its value[11].
It’s important to point out here that VIX futures exposure is not the same thing as exposure to the VIX index. Historically, 1-month VIX futures have a beta to the VIX index of approximately 0.5[12]. So, for XIV to lose all its value, we would need to see spot VIX increase by 200% or more[13].
Is this within the realm of possibility? Since XIV launched in 2010, the largest one-day loss (measured from the previous day’s close to the next day’s low) was 31.0%. This occurred on August 24, 2015 when VIX spiked 90.1% from 28.03 to 53.29. This VIX spike was the largest in the CBOE VIX dataset, which goes back to the early 1990s.
Fortunately, we can go back even further by looking at the VIX’s predecessor, the VXO index. VXO was launched in 1993 and has price history dating back to 1986.
There are two main differences between VIX and VXO:
1. VIX is based on S&P 500 options and VXO is based on S&P 100 options.
2. VIX uses a broader range of strike prices than VXO, which used only near-the-money strikes. In addition, VIX was designed so that it can be statically replicated as opposed to the VXO, which requires dynamic hedging to replicate.
Despite these differences, VIX and VXO track each other pretty closely.
[caption id="attachment_218489" align="aligncenter" width="768"]
Source: Bloomberg.[/caption]
Black Monday immediately jumps out from the above chart. On Friday, October 16, 1987 VXO closed at 36.37. On Monday, October 19, 1987, the index spiked to an intraday high of 152.48, an increase of 319%. A similar spike in VIX would almost certainly cause XIV to lose all of its value.
This gets to why XIV has a “long-term expected value of zero.” The longer you hold it, the more likely you are to experience a 1987 event and lose all of your money. Hence, XIV is not a great option as a standalone, buy and hold investment.
The more relevant question for us though is: “Does this invalidate the Derivatives ETN 60/40 as a viable way to introduce leverage into your portfolio over the long-run?”
We think the answer is no for two main reasons.
First, the proposed strategy does not use XIV as a standalone position, but rather as a part of a portfolio. The actual allocations for the hypothetical Derivatives 60/40 are 45.8% to SPY, 30.5% to IEF, 14.2% to XIV, and 9.5% to DLBR.
[caption id="attachment_218490" align="aligncenter" width="768"]
Source: Bloomberg. Calculations by Newfound Research. None of the ETFs were actually live on Black Monday (October 19, 1987). Returns were estimated using index returns and other index data. Past performance does not guarantee future results.[/caption]
Based on the available data, the portfolio would have lost around 24% on Black Monday. While this is obviously painful, it’s not all that different than the projected 21% loss on the 1.7x levered SPY/IEF portfolio. A 1987-like event will always be extra painful for those using leverage, whether something like XIV is used or not.
Second, the proposed strategy rebalances on a monthly basis and so it doesn’t truly buy and hold XIV. Instead, any XIV gains are constantly harvested and reinvested in the other parts of the portfolio as monthly rebalances are executed. Similarly, when XIV underperforms the other positions in the portfolio, rebalances will trim other positions to invest in XIV.
But let’s say that we are really concerned about the impact of a 1987 type of outlier. What can we do? There are a few options (other than just foregoing short volatility as a means of achieving leveraged equity exposure altogether).
1. We could replace XIV with a lower risk short volatility alternative.For example, we could short mid-term VIX futures instead of short-term VIX futures. ZIV (VelocityShares Daily Inverse Medium-Term ETN) is an ETN that offers exposure to the S&P 500 Mid-Term Futures Inverse Daily Index. This index takes short positions in fourth, fifth, sixth, and seventh month VIX futures contracts. The benefit from a risk perspective is that this index has a beta to the VIX of around -0.2 instead of the -0.5 for short-term VIX futures. As a result, we need to see a more extreme VIX move to be wiped out (~500% spike instead of a ~200% spike, assuming long-term betas hold).The main disadvantages of moving to mid-term futures are that (i) the risk-adjusted return of shorting mid-term futures has lagged that of shorting short-term futures and (ii) a larger allocation to the derivatives-based portfolio relative to the simple 60/40 SPY/IEF is needed to hit the volatility target. In fact, when we approximate a Black Monday stress test of the portfolio with ZIV replacing XIV, we actually end up with a larger loss (-28% vs -24%) – despite the fact the ZIV position does not get wiped out – because we have to hold more ZIV to get the same amount of leverage.Another replacement for XIV would be a strategy that pairs short positions in short-term VIX futures with some type of long volatility hedge. An example would be the VelocityShares VIX Short Volatility Hedged ETN (XIVH), which tracks the S&P 500 VIX Futures Short Volatility Hedged Index. This index pairs a 90% short position in VIX futures with a 10% 2x long position in VIX futures, rebalanced quarterly on a rolling basis. The offsetting positions may be confusing, but the idea is actually interesting. We discussed it inHedge Hunting: Wrangling the VIX[14].At the 10% 2x long/90% 1x short base weights and still keeping our -0.5 beta estimate to VIX, we would need to see a 285% VIX spike to get wiped out instead of the 200% spike necessary with pure XIV. In practice, the weighting is rarely 10% 2x long and 90% 2x short since the rebalancing is not daily. In fact, we found that the long volatility weighting was less than 2.5% about 7.5% of the time going back to 2005. If we were unlucky enough to have a black swan hit at a time where we were this underweight the long volatility position, a ~215% VIX move would wipe us out.We still have the same side effect, albeit to a lesser degree, that we had with ZIV in that by using a lower volatility product, we require a larger allocation to get the same amount of leverage.
2. We could utilize an active strategy to trade XIV. For example, approaches using momentum, the slope of the VIX futures curve, and comparisons between implied and realized volatility all show promise. Using some combination of these approaches may indirectly reduce the impact of a large volatility spike by reducing the probability that we have a full position in XIV. Yet, events like 1987 that largely come out of nowhere are almost certainly not going to be predicted any type of active trading approach via skill.
3. We could combine the Derivatives ETN 60/40 with the Levered ETF 60/40 to reduce the size of the XIV position. We present the results of this combination below. The XIV position is reduced from 14.2% to 11.0% and the simulated 1987 return improves from -24% to -23%.
[caption id="attachment_218491" align="aligncenter" width="768"]
Source: CSI, Bloomberg. Calculations by Newfound Research. Data covers the period from December 2005 to December 2017. Index returns are hypothetical. Fees for underlying exposures are netted out, but no other fees (advisor fees, trading costs, etc.) are accounted for. Returns include the reinvestment of dividends. Past performance does not guarantee future results.[/caption]
[caption id="attachment_218492" align="aligncenter" width="768"]
Source: CSI, Bloomberg. Calculations by Newfound Research. Data covers the period from December 2005 to December 2017. Index returns are hypothetical. Fees for underlying exposures are netted out, but no other fees (advisor fees, trading costs, etc.) are accounted for. Returns include the reinvestment of dividends. Past performance does not guarantee future results.[/caption]
Conclusion
Leverage is a tool. When used prudently, it can help investors potentially achieve much more risk-efficient returns. When used without care, it can lead to complete ruin.
For many investors who do not have access to traditional means of leverage, they can mimic the effect using levered ETFs and derivative ETNs (or they can do so inefficiently with high beta ETFs).
Over the period from 2005 to 2017, levered ETFs showed comparable performance to a traditionally levered 60/40 portfolio while derivative ETNs exhibited strong outperformance.
Looking back even further in history, a 1987-like event will always be extra painful for those using leverage, regardless of the method use to achieve it. However, combining the levered ETF and derivative ETN approaches may improve the outcomes in these trying market environments.
By employing leverage in creative ways, we are not destroying the risks associated with using traditional forms of leverage; we are merely transforming them. Each method comes with its own set of risks, but these options provide investors with practical ways to convert high risk-adjusted returns into higher absolute returns without using margin directly.
[1] https://blog.thinknewfound.com/2017/12/portable-beta-making-returns-youre-already-getting/
[2] https://blog.thinknewfound.com/2018/01/levered-etfs-long-run/
[3] For the quarterly and annual reset versions, we stagger the resets over monthly increments to reduce timing luck.
[4] We actually use the S&P 500 High Beta Index with a 25bps annual fee applied as a proxy for the ETF as the ETF did not launch until 2011.
[5] The replicated daily returns consist of three components. The first component is simply twice the daily return of the reference index (the S&P 500 in the case SSO and the Bloomberg Barclays 7-10 Year Treasury Index in the case of UST (note: UST’s reference index is actually the ICE U.S. Treasury 7-10 Year Bond Index, but the two indices are very similar, and we were able to pull a longer history of the Bloomberg Barclays index). The second component is the financing cost for borrowing. We assumed annualized financing costs equal to the 3-month Treasury bill rate plus a spread. The spread was selected such that the total return of our replication index matched the total return of the actual ETF (SSO or UST) for their shared history. The third component is fees: 90bps for SSO and 95bps for UST.
[6] XIV is represented by the S&P 500 VIX Short-Term Futures Inverse Daily Index with fees (135bps) netted out.
[7] The first contract rolls off two days prior to expiry, so for a brief period of time the ninth listed quarterly contract is also included in the index.
[8] This is an imperfect analysis as actual returns will not just be influenced by interest rate levels, but also the shape of the Eurodollar futures curve.
[9] http://app.velocitysharesetns.com/files/prospectus/CS_VIX_VelocityShares_ETN_Amended_Final_Pricing_Supplement_AR48_long_form_2.PDF
[10] Exposure is actually to a rolling short position in the front two VIX future contracts.
[11] In fact, the ETN issuer has the right to accelerate the maturity of the ETNs in the event that XIV falls by 80% or more in a single day.
[12] This is a gross oversimplification of relative behavior between spot VIX and VIX futures.
[13] Again, this is a gross oversimplification. It is certainly possible that a spot VIX move smaller than 200% could lead to a VIX futures increase of more than 100%.
[14] https://blog.thinknewfound.com/2015/08/hedge-hunting-wrangling-vix/
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Per-share profits of $5.18 in Q4 2017 were literally twice what Boeing earned a year ago, and sufficient to lift full-year GAAP profit to $13.43 per share (up 76% over full-year 2016 earnings). Sales were down 1% for the year, but up 9% for the quarter. Operating profit margin continued a long-term trend of steady growth, rising 250 basis points (to 11.9%) in Q4, and rising 450 basis points (to 11%) for the year. Now what Anticipating even more growth in the year ahead, Boeing announced new guidance for the coming fiscal year. In 2018, Boeing expects to earn between $15.90 and $16.10 per share in profit on sales of $96 billion-$98 billion, maintaining an operating profit margin of 11% or better in both its commercial airplanes and defense and space and security businesses. Core earnings per share -- the number Wall Street will presumably focus on -- should range between $13.80 and $14. 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Additionally, the company announced its intention to increase its dividend to $0.76 per share, a 21% increase over current levels, and a plan to buy back $5 billion in stock. While the company was happy with the results, Comcast appeared particularly optimistic about 2018, specifically the first quarter.
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The story of the first quarter will be less about cable subscribers and cord-cutters and more about programming. It's likely that the first quarter will be a huge one for television advertising through the company's NBCUniversal brand thanks to broadcast rights for the Winter Olympics and the Super Bowl, both in February. In 2014 NBC generated approximately $800 million from the Sochi Olympic Winter Games, and it's likely this year's event total will be higher.
Additionally, NBCUniversal has the rights to the Super Bowl on Feb. 4, an event from which it expects to make $350 million in revenue, according toThe Wall Street Journal. The confluence of these events will significantly boost NBCUniversal's broadcast television division in the quarter; the company predicts both will bring in $1.4 billion in ad revenue.
During the quarterly conference call with analysts, Senior Executive Vice President Stephen B. Burke said:
And as we head off to the Super Bowl and the Olympics, it's not lost on us that if you're a big advertiser and you want to launch big brands and really make a material change in the way consumers think about you, you have to be in the big events on TV. And we have something like 2/3 of all the big nights on Broadcast Television in the next 12 months. So we think we're well-positioned for the ecosystem where it is, but we're hard at work creating the ecosystem that should be there that gives television all the positives that digital has.
Additionally, the company will benefit from the newly enacted tax cuts. Comcast reported a one-time gain in this quarter as tax liabilities were reduced. Lower taxes will continue to boost profits in the next quarter.
Comcast is tethered to the television ecosystem more than other media companies are. First, there is delivery through its cable delivery business. Falling video subscribers means either Comcast reports less revenue from its cable business, or it will be forced to raise costs on the remaining subscribers. Second, having fewer subscribers across all video companies presents headwinds for the company's subscription fees for networks like CNBC, MSNBC, and The Weather Channel, and broadcast retransmission fees it receives to carry NBC.
However, it's done an admirable job navigating a tough environment. In 2017, although the company reported a decrease in video subscribers, Comcast was able to increase revenue attributable to video by 3.5% due to rate increases and upgraded services. Additionally, the company's high-speed internet revenue continues to grow at a rapid clip -- 9.1% in the last fiscal year -- allowing the company to withstand moderate revenue declines in video.
Additionally, the company has other businesses to lessen its dependence on video with its Universal Parks and Resorts and Universal Filmed Entertainment Group. With modest market expectations, diverse businesses, and short-term catalysts, look for Comcast to continue to beat analyst expectations.
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Jamal Carnette, CFAhas no position in any of the stocks mentioned. The Motley Fool recommends Comcast. The Motley Fool has adisclosure policy.
[Random Sample of Social Media Buzz (last 60 days)]
Pinned Tweet
KUCOIN
@kucoincom
Jan 18
More
TEL Giveaway: Follow and Retweet Win 3 BTC
Follow KuCoin Official Twitter and retweet this competition tweet, then fill in the form, you will get a random BTC rewards. Activity time: 2018/01/18 22:00 – 2018/01/23 23:59 (UTC+8) || #BTC Average: 11020.34$
#Bitfinex - 10909.00$
#Poloniex - 10898.63$
#Bitstamp - 10925.00$
#Coinbase - 10877.92$
#Binance - 10804.97$
#CEXio - 11659.50$
#Kraken - 10938.30$
#Cryptopia - 10800.00$
#Bittrex - 10890.00$
#GateCoin - 11500.10$
#Bitcoin #Exchanges #Price || You must be smart with money.
"Interests: Never Donald Trump, Bitcoin, Business, Internet Law, Politics"
Bitcoin... pic.twitter.com/zvFhFfhZqy || Bitcoin cae 62% desde diciembre por mayor regulación http://bit.ly/2sblLnY pic.twitter.com/MAGzhkZ8vs || at least someone is trying to bring btc tech to the masses while BTC shit the bed again during the biggest bull mkt in history - btc failed since inception to create wide spread use as a currency. True story even if u like it or not 100% accurate. || Trading Ideas: Bitcoin Continues To Get Hammered - Next Support At 5K http://dlvr.it/QF9Pr6 → via http://bit.do/trade-crypto pic.twitter.com/OU9Oswx4eh || https://candy.aelf.io/account/register?invitationCode=0K04911B26fT … #airdrop #aelf #bitcoin #BTC #ETH #cryptocurrency #crypto #altcoins #freecoins #freecoin #freetoken #freetokens #freealtcoins #freealtcoin #newairdrop #Ethereum || Llegando el final de la corrección de BTC?
#Criptomonedas: 1514
#Mercados: 8569
Cap. de Mercado: $301.084.792.261
Volumen de 24 horas: $32.779.111.829
Dominio $BTC : 36.5%
Dominio $ETH : 20.35%
Dominio $XRP : 8.47% || 03/08 19:00現在(Zaif調べ)
#Bitcoin : 1,070,985円↑0%
#NEM #XEM : 39円↓2.5%
#Monacoin : 473円↑1.72%
#Ethereum : 82,465円↑1.23%
#Zaif : 1円↑0% || 0x526533Af749b87151A161700dBE3520c7a3DEF0B
|
Trend: down || Prices: 9337.55, 8866.00, 9578.63, 9205.12, 9194.85, 8269.81, 8300.86, 8338.35, 7916.88, 8223.68
|
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 2018-05-18]
BTC Price: 8250.97, BTC RSI: 41.45
Gold Price: 1290.20, Gold RSI: 35.14
Oil Price: 71.28, Oil RSI: 63.47
[Random Sample of News (last 60 days)]
Report: Apple Inc. Prepping New iPhone Colors to Boost Sales: A report from Macotakara (via 9to5Mac ) says that Apple (NASDAQ: AAPL) is "preparing to introduce a new color variant of the iPhone X" in a bid to shore up sales of the device. The report, says 9to5Mac, doesn't indicate what color the new iPhone X will come in. However, there have been reports and rumors pointing to both a new " blush gold " model and a possible red version. Apple's iPhone X Image source: Apple. Let's go over what this development could mean for Apple's business. More colors can only help A nontrivial part of what makes a smartphone appealing to consumers is aesthetics, and color choices play a significant role in determining the aesthetic appeal of a device. Apple first introduced a gold iPhone with the iPhone 5s, and the gold variant proved to be unexpectedly popular, leading the company to increase production . Apple also introduced a "rose gold" finish with the iPhone 6s-series smartphones. A "jet black" finish with the iPhone 7 Plus also proved quite popular . Apple didn't introduce these colors for fun -- it did so because the company knew the new finishes would help boost demand to some nontrivial degree. It would make sense, then, for Apple to introduce new colors for its current iPhone lineup midway through the product cycle, if sales of the devices in their current colors aren't going as planned. A gold iPhone X would have the most impact It's not clear what color(s) Apple will add to the lineup, but I think that if it wants maximum sales impact, it should introduce a gold version of the iPhone X. Such a model could help boost Apple's sales, particularly in China . As the iPhone X is Apple's most expensive iPhone, selling more of that model could have a substantial impact on the company's iPhone business -- its largest and most important business unit. However, since Apple already sells gold versions of the iPhone 8 and iPhone 8 Plus, and it seemingly wants to pull out all the stops to increase overall iPhone shipments, I also wouldn't be surprised to see the company introduce red variants of the iPhone 8 and iPhone 8 Plus. Story continues While it would probably be quite difficult to introduce a red variant of the iPhone X (Apple would need to invest in a manufacturing process to turn the stainless-steel edges of the device red -- hardly a smart investment to make for a limited-run model), putting out red versions of the iPhone 8 and iPhone 8 Plus probably wouldn't be too difficult. After all, Apple already has experience in building red aluminum casings --it did so for the limited-run red versions of the iPhone 8 and iPhone 8 Plus -- and painting the glass back of the device to match shouldn't require anything too exotic. The seemingly conflicting rumors around additional colors might, in fact, be reconcilable...if Apple releases a gold version of the iPhone X, and red versions of the iPhone 8 and iPhone 8 Plus. 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 Ashraf Eassa has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has a disclosure policy . || Cryptocurrency Market Remains Stable at $350 Billion, Bitcoin at $9,000: Over the past 48 hours, after demonstrating a highly volatile week, the cryptocurrency market has remained stable in the $350 billion region, as major cryptocurrencies such as bitcoin have not recorded major gains or losses.
Throughout February and March, every cryptocurrency in the global market has experienced extreme upswings and price drops, going up and down 20 to 30 percent within a 24-hour period. Bitcoin for instance, has dropped from $14,000 to $6,000, increased to $11,600, dropped to $7,000, and recovered to $9,000.
Subsequent to this period of intense volatility, the cryptocurrency market has found some stability, given that the market has not made any major movement for two days straight. Some tokens like ICON (ICX) and Storm have surged by over 40 percent due to exchange listings, but other than the two cryptocurrencies, most digital currencies have sustained their price from March 20.
Investors have also started to express some optimism and enthusiasm towards the market after the initial recovery from $6,000. Experts in the tech and finance sectors including Twitter CEO Jack Dorsey, billionaire investors Tim Draper and Alan Howard shared a similar sentiment in saying that cryptocurrencies like bitcoin could become the global reserve currency.
Twitter CEO Jack Dorsey, who also operates payments app Square,stated:
“The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be bitcoin.”
Howard, who invested in bitcoin last year, revealed that he will increase his holdings in cryptocurrencies in 2018, because he strongly believes the market will experience a full recovery throughout this year.
“Hedge fund billionaire Alan Howard made sizable personal investments in cryptocurrencies last year and plans to put more of his own money into digital assets and the blockchain technology behind them, according to people with knowledge of the matter,”a Bloomberg report read.
ICON, also known as the Ethereum of South Korea, has recorded a 60 percent gain on March 21, and another 40 percent surge in price on March 22.
Yesterday, South Korea’s largest cryptocurrency exchange Bithumb listed ICON, supporting its airdrop campaign. Almost immediately after the listing of ICON on Bithumb, the price of ICX surged by over 60 percent, as massive volumes from the local market were allocated to the ICON exchange market.
Earlier today, the second biggest cryptocurrency trading platform in South Korea, Upbit, listed ICX. As a cryptocurrency-only exchange in the local market, Upbit is popular amongst professional cryptocurrency traders and casual investors that are looking to invest in cryptocurrencies that are not listed on cryptocurrency-to-fiat exchanges like Bithumb and Korbit.
Overall, the cryptocurrency market is in a better position than it was earlier this month, in terms of valuation, volume, demand, and media coverage. In regions like Japan and South Korea, premiums have re-emerged, with South Korea demonstrating a 4.6 percent premium for bitcoin.
Featured image from Shutterstock.
The postCryptocurrency Market Remains Stable at $350 Billion, Bitcoin at $9,000appeared first onCCN. || After Booking Holdings' Fall on First-Quarter 2018 Results, Is Its Stock a Buy?: Lackluster investor response to great earnings reports have been common for the first quarter of 2018. Many shareholders worry that current growth rates are as good as they'll be and will cool off. Such was the case afterBooking Holdings(NASDAQ: BKNG)reported aknockout start to the year.
The rub was guidance, which indicated a slowdown is in order. Total gross travel bookings are expected to grow "only" in a range of 10% to 14%, or 5% to 9% when adjusted for currency fluctuations. Earnings per share should be $15.50 to $16.15, or up 10% year over year at the midpoint of guidance.
Those numbers are hardly worth losing sleep over, and it's worth bearing in mind that Booking underestimates all the time, and is constantly reminding investors to expect decelerating growth as the company gets bigger. Even though some are nervous about a few other factors, smart investors don't need to worry much about them either.
Image source: Getty Images.
The first problem is currency. The company got a big boost from the dollar devaluing against other currencies (most of Booking's business is overseas).Management saidit has hedges in place to protect its profits, but currency fluctuations will continue to impact gross bookings and revenue. Some years that will be good, others not so much, but it should all wash out over the long term.
Taxes are the second problem. While tax rates for companies that do business in the U.S. dropped after the tax overhaul late last year, Booking expects its tax rate will increase from its prior 17% to a new level of 21% in the second quarter. That's due to its activity outside the U.S. There were other tax increases elsewhere in the world -- the Netherlands was cited specifically -- that will hit the bottom line, too. The increases look modest, though, and are manageable.
The third and final issue is timing. Easter is a busy travel time around the world, and last year that holiday fell in the second quarter. This year it was in the first quarter. That means the holiday bump came early, so Booking is lapping a difficult comparable period that isn't apples-to-apples. Also in quarter No. 2 is the World Cup, which could cause slowdowns in travel. It all ultimately depends on which countries' teams do well (if developed nations' teams advance, expect more travel bookings).
All of the above factors are out of Booking's control and will ebb and flow over time. As for factors it does control, the company is making the most of them. As the world develops, an increasing number of people are traveling and using the internet to find accommodations. With a heavy international presence, Booking is positioned to capitalize on that growth in the emerging world.
In developed countries, where booking online is already common, increasing inventory of unique places to stay is a key factor. While Airbnb helped pioneer the trend away from hotels and resorts, Booking.com is actually the leader in the space with 5.2 million homes, apartments, and other unique listings. That number continues to grow at a healthy double-digit percentage rate. Plus, Booking is working on making itself a one-stop shop for vacations by integrating travel, accommodations, andin-destination activitiesin one place.
Image source: Getty Images.
All of that said, a detractor might say Booking is already a big company; market cap is currently $100 billion. However, even as the leader in online travel services, it musters only single-digit market share. Thus, there's plenty of room for improvement, and the company continues to make its online experience better for customers and make strategic acquisitions to consolidate more market share. Plus, trailing price-to-free-cash-flow is only at 22.6 after the report, and one-year forward P/E is under 20, all for a company that consistently posts double-digit top- and bottom-line expansion every year.
Management said it believes its stock is worth buying at these valuations, too, having made $1.5 billion in repurchases last quarter. There is another $10 billion left in the current share repurchase plan -- representing 10% of what the company is currently worth -- which will be used in the next two to three years. That's another reason to give investors cheer.
In short, after Booking's first-quarter beat and subsequent pullback, this stock looks like a great buy.
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Nicholas Rossolilloand his clients own shares of Booking Holdings. The Motley Fool owns shares of and recommends Booking Holdings. The Motley Fool has adisclosure policy. || Why U.S. Steel, Biglari Holdings, and Charter Communications Slumped Today: Friday was a relatively calm day on Wall Street, with major benchmarks closing with only minimal changes. Earnings season continues to go well, with high-profile companies generally seeing solid growth and positive impacts from tax reform and a healthy economy. Yet in some cases, company-specific factors held certain stocks back, producing dramatic losses.U.S. Steel(NYSE: X),Biglari Holdings(NYSE: BH), andCharter Communications(NASDAQ: CHTR)were among the worst performers on the day. Here's why they did so poorly.
Shares of U.S. Steel dropped 14%after the company reported its first-quarter financial results. At first glance, the steelmaker seemed to see considerable strength in its performance, including sales that climbed 16% from year-ago levels and adjusted earnings that reversed a year-ago loss. U.S. Steel also seemed confident about its asset revitalization program, which it argued is already starting to produce favorable results. Yet investors seemed uncomfortable projecting forward any positive impact from possible tariffs, especially in light of President Trump's meeting with German Chancellor Angela Merkel. With extensive debt and further challenges ahead, U.S. Steel still has a long way to go before shareholders can feel entirely comfortable.
Image source: U.S. Steel.
Biglari Holdings stock plunged 20% in the wake of the company's decision to create a dual class of stock. Under the deal, investors will get 10 shares of Class A voting stock and 100 shares of Class B non-voting stock for every 100 Biglari shares they currently own. Class A shares will have five times the economic rights in liquidation as Class B shares. Some speculate that the reason for the move could be to allow CEO Sardar Biglari and his Biglari Capital hedge fund, which owns the majority of outstanding shares currently, to sell off the resulting Class B shares for cash without losing voting control of Biglari Holdings. With the shares selling at a discount to the value of the company's assets, Biglari Holdings is an example of how CEO control can sometimes be a negative for a stock when acontroversial executive is at the reins.
Finally,shares of Charter Communications fell almost 12%. The cable giant said that it lost 122,000 residential video subscribers and 52,000 residential voice subscribers in the first quarter of 2018, continuing a negative trend that has persisted for a long time. Broadband internet continued to do well for the company, posting subscriber gains of 331,000 on the residential side, but investors still worry about the cord-cutting trend that could lead to reduced earnings growth in the long run. The fact that Charter continued to see earnings climb shows that the trend hasn't had as much of a negative impact as some fear, but the cable giant will have to work to avoid any deterioration in its financial condition in the future.
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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. || Crude Oil Price Update – Downside Pressure Could Drive Market into $69.29 to $68.69: Profit-taking ahead of the week-end drove crude oil prices lower on Friday. Long investors were also encouraged to book profits after another jump in the U.S. rig count. This raised concerns about increasing U.S. production offsetting some of the expected supply shortage caused by sanctions against Iran.
Although the market is pricing in a supply disruption, it may take months before the market actually sees the effects of the sanctions against Iran. In the meantime, there are some bearish traders who believe Saudi Arabia, Kuwait or Iraq will increase production to make up for the shortfall.
Crude oil is trading slightly lower early Monday. At 0600 GMT,July West Texas intermediate crude oilis trading $70.43, down $0.25 or -0.35%.
The main trend is up according to the daily swing chart. However, momentum may be getting ready to shift to the downside. Because of today’s lower-low, a new main top has formed at $71.80. A trade through this level will signal a resumption of the uptrend.
The minor trend changes to down on a move through $67.57. The main trend will change to down on a trade through $66.77.
The contract 50% to 61.8% zone is $70.60 to $64.77. Holding above this zone will give crude oil a solid upside bias.
The short-term range is $66.77 to $71.80. Its retracement zone at $69.29 to $68.69 is the first downside target. Since the main trend is up, buyers are likely to return on the first test of this zone. If this zone fails then momentum will shift to the downside.
Based on the early price action, the direction of the crude oil market the rest of the session is likely to be determined by trader reaction to the major Fibonacci level at $70.60.
A sustained move over $70.60 will indicate the presence of buyers. If this move generates enough upside momentum then look for buyers to go after $71.80. Taking out this level will extend the rally. The daily chart indicates there is plenty of room to the upside with the next major targets coming in at $79.04 and $81.05.
A sustained move under $70.60 will signal the presence of sellers. This could trigger a break into $69.29 to $68.69. Watch for buyers to show up on a test of this zone. If $68.69 fails then look for selling pressure to increase.
Thisarticlewas originally posted on FX Empire
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• Commodities Daily Forecast – May 14, 2018 || 2 Lousy Reasons Why Americans Aren't Saving for Retirement: When it comes to retirement savings, countless workers are in pretty bad shape. An estimated 42% of Americans have less than $10,000 set aside for the future, according todata from GoBankingRates. Meanwhile, 22% of Americans aren't contributing to a retirement fund at all, as per anew study from Capital One.
Of course, it's easy to make excuses for ignoring your future, so Capital One asked its survey participants why they weren't saving. Their top answers? Not earning enough money (41%), and counting on Social Security instead (18%).
Image source: Getty Images.
Not surprisingly, I'm here to tell you that these reasons are bogus. And the sooner we all stop piggybacking on these lame excuses, the less likely we'll be toretire broke.
It stands to reason that someone earning $100,000 a year will have an easier time saving money than someone bringing home $30,000. But the thing to realize is that if youbudgetaccordingly and set priorities, you can save money for the future regardless of how much, or how little, you earn.
Think about the things you spend money on today. Chances are some of your bills aren't necessities, but rather, luxuries. I'm talking about things like your cable plan or the occasional restaurant meal you treat yourself to. Look, these aren't unreasonable indulgences, and if you can swing them while also managing to sock away a little bit of money each month for retirement, then keep up those habits. But if you're going to claim that your earnings leavenowiggle room for IRA or 401(k) contributions, then it's time to be more honest with yourself about what you're capable of saving.
Imagine you're spending $80 a month on cable and another $50 to eat out once a month. That's not a ton of money in theory. But if you were to take that $130 a month, save it, and invest it at a 7% average annual return, which is a couple of points below the stock market's average, you'd wind up with close to $150,000 over a 30-year period.
Now to be frank, $150,000 isn't a whole lot in the grand scheme of what could be a 20-year retirement or longer. But it's definitely better than nothing.
Many people neglect their retirement savings because their plan is to cut expenses during their senior years and use Social Security to pay the bills. The problem, however, is that you can only cut so many costs and still manage to live. You'll still need housing, food, transportation, clothing, and medical care -- and if you think the latter will go down in retirement, you'resorely mistaken.
That's precisely whyfalling back on Social Security aloneis a bad idea. Those benefits will replace about 40% of the average earner's pre-retirement income, but most people need roughly double that amount to live comfortably. Even if you commit to an extremely frugal lifestyle when you're older, your chances of managing to live on just 40% of your former income are pretty slim.
If you're still not convinced, think about it this way: The average Social Security recipient today collects just over $1,400 a month, or a little less than $17,000 per year, in benefits. If you think that's enough to live on, then I suppose there's no real need to change your ways and start saving for the future. But if that $1,400 is what you currently spend on rent, transportation, and food alone, then you must rethink your approach to retirement and start stepping up on the savings front.
Saving for the future certainly isn't the most fun thing to do with your paycheck. But if you want a shot at a comfortable retirement, that's precisely what you'll need to do. And the sooner you realize that, the more opportunity you'll have to build a decent nest egg and enjoy your golden years rather than struggle through them.
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The Motley Fool has adisclosure policy. || Is Facebook Turning Instagram Into an E-Commerce Powerhouse?: Facebook's(NASDAQ: FB)Instagram recently introduced a native payments feature for select users. The feature lets users add debit or credit cards to their profiles, set up security PINs, and start purchasing products without leaving Instagram.
A handful of restaurants and salons already integrate their Instagram account's native payments into their booking services. That move complements Instagram's previous introduction of "shoppable posts," which let companies tag products in their photos with links to their online stores.
Image source: Google Play.
Instagram also plans to let users purchase movie tickets and make direct payments with the app, presumably before launching the feature for other businesses. Could these moves gradually turn Instagram into an e-commerce powerhouse?
When Facebook purchased Instagram in late 2012, many analysts wondered why the social network spent $1 billion on an app for filtered photos. But between Jan. 2013 and Sept. 2017, Instagram's monthly active users (MAUs) skyrocketed from 90 million to 800 million.
That massive growth was supported by rising sales of smartphones, a shift of younger users from Facebook to Instagram, and the platform's surging popularity with social media influencers.
In January, asurvey from Zinefound that 78% of social media influencers used Instagram as their primary social media platform since it was streamlined for sharing single pictures or short videos. Another survey from analytics and marketing platform Klear found that the number of influencer posts on Instagram nearly doubled to over 1.5 million between 2016 and 2017.
Image source: Getty Images.
Last September, Facebook revealed that Instagram had two million advertisers, representing 900% growth in 18 months. Instagram also recently claimed that about half of its daily active users (500 million as of last September) follow an "active shopping business."
With that many users, influencers, and advertisers on board, Instagram seems likefertile groundfor planting a payments and e-commerce platform.
Doing so would represent a continuation of Facebook's strategy of turning Instagram and Messenger into stand-alone platforms, similar to whatTencent(NASDAQOTH: TCEHY)did with WeChat, China's most popular messaging app.
Over the past few years, Tencent transformed WeChat into an all-in-one "super app" that lets users access online payments, ride hailing services, delivery services, games, an internal social network, and e-commerce features without leaving the app. Tencent even convinced high-end brands likeBurberry, Longchamp, Dior and Cartier to sell their products directly through their WeChat accounts.
Facebook isclearly followingTencent's playbook. That's why it started adding games, payment features, and chatbots to Messenger, and why it's adding payments and e-commerce features to Instagram.
This isn't the first time Facebook tried to crack the e-commerce market. Back in 2011, Facebook let companies open "Facebook Stores" on its network, but early adopters -- includingThe GapandJCPenney-- abandoned their stores within a year.
In 2012, Facebook introduced Gifts, which let users buy gifts for their friends via integrated third-party sites. The feature was quietly killed off in 2014. The same year, Facebook launched "buy buttons" for ads and business page posts. Facebook eventually killed off those buttons, but pivoted them to Instagram in 2016.
Last year, a survey by email marketing platform Campaigner found that 72% of marketers experienced no sales from buy buttons on social networks. 40% of respondents planned to reduce their buy button usage.
Instagram's buy buttons gradually evolved into its shoppable posts with tagged items, but it's still unclear how many followers of a brand actually directly buy products on the social network. It's likely that users might see something they like on Instagram, then search for the product onAmazoninstead.
After all, 2.5 times more consumers start a product search on Amazon rather thanAlphabet's Google or other search engines according to research firm Forrester. The ratio between Amazon and Instagram is likely much higher.
Facebook's past failures indicate that U.S. consumers aren't keen on shopping through social networks, but they may find success now following Tencent's playbook.
Either way, Facebook's forays into payments and e-commerce are noteworthy, but they probably won't move the needle for the world's biggest social network anytime soon.
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors.Leo Sunowns shares of Amazon and Tencent Holdings. The Motley Fool owns shares of and recommends Alphabet (A and C shares), Amazon, Facebook, and Tencent Holdings. The Motley Fool has adisclosure policy. || Why It’s Time to Be Cautious on Steel, Steel ETFs: This article was originally published onETFTrends.com.
The VanEck Vectors Steel ETF (SLX) rallied earlier this year after the White House unveiled tariffs aimed at helping U.S. steelmakers, but the steel ETF has since given back all those gains after the White House unveiled a diluted version of its original tariff plan.
SLX tries to reflect the performance of the NYSE Arca Steel Index, which follows global companies involved in the steel industry. While more than a third of SLX’s lineup is allocated to U.S. steel producers, the ETF has aheavily global tilt, including exposure to ex-US developed markets and emerging markets steel companies.
With SLX down more than 7% over the past month, some analysts are growing bearish on steel stocks. The initial tariff effort was met with hostility from U.S. trading partners, causing some market observers to speculate that a trade war could result from the Trump Administration’s efforts to protect U.S. steelmakers.
Related:Steel ETF Tumbles After White House Tariff Plan
Issues Remain for Steel ETFs
“In mid-February, to incorporate the impact of these tariffs on our steel price deck, we increased our forecasted spread between U.S. steel prices and global marginal cost,” said Morningstarin a recent note. “Accordingly, we raised our fair value estimates for every U.S. steelmaker we cover. However, we still expect global marginal cost to decline materially in the coming years, driven by decelerating Chinese fixed-asset investment, waning Chinese stimulus effects, and faltering cost support from steelmaking raw materials.”
The SPDR Metals & Mining ETF (XME) is another ETF that could be pinched by faltering steel equities. XME tries to reflect the performance of the S&P Metals & Mining Select Industry Index, which is designed to track the metals and mining segment of the S&P Total Market Index, a broad U.S. equity market index. However, unlike the traditional cap-weighted indexing methodology, XME follows a more equally weighted approach. XME is lower by about 9% over the past month.
Related:Trump’s Tariff Plan: Best Ways for ETF Investors to Capitalize
A problem with the new, diluted tariff scheme is that excludes many of the largest importers of steel to the U.S.
“Additionally, the steel tariff program appears to have less bite than many initially feared, as a number of key steel exporters to the U.S. have now received temporary exemption,” said Morningstar. “Those exempt include Canada, Mexico, the E.U., Argentina, Australia, Brazil, and South Korea. Together, these countries accounted for 65% of U.S. steel imports in 2017.”
For more information on the steel industry, visit oursteel category.
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© 2018 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || AUD/USD and NZD/USD Fundamental Weekly Forecast U.S. Inflation Data, Demand for Risk Control Will Impact Trade: The Australian and New Zealand Dollars posted two-sided trades last week before finishing mixed in response to concerns over the escalating tensions between China and the United States. Traders also responded to economic events in the U.S., Australia and New Zealand, but for the most part, reacted to the news events with low confidence. This price swings suggested investor indecision and impending volatility. To recap the week: The week started with Chinas finance ministry announcing it would impose retaliatory tariffs on U.S. goods, and ended with President Trump instructing the United States Trade Representative to consider $100 billion in additional tariffs against China. Additionally, Chinas Commerce Ministry said the country will not hesitate to react with a major response to new tariffs from the U.S. In other news, the Bureau of Labor Statistics reported on Friday that non-farm payrolls rose 103,000 in March while the unemployment rate was 4.1 percent. Economists and traders were looking for a payrolls gain of 193,000 and the unemployment rate to decline one-tenth of a point to 4 percent. The closely watched average hourly earnings figure rose 0.3 percent against estimates of 0.2 percent. This pushed up the annual rate to 2.7 percent. In Australia, the Reserve Bank of Australia left its benchmark interest rate at historically low levels as expected. It also expressed concerns over low inflation, rising housing prices and low wages. The AUD/USD settled at .7671, down 0.0005 or -0.07%. Weekly AUD/USD Additionally, Australian retail sales surprisingly rose 0.6%, beating the 0.3% estimate. The previous number was also revised higher. The Trade Balance also came in better than expected, however, the previous month was revised lower. In New Zealand, the New Zealand Dollar rallied to its highest level since March 14 last week, helped by a pickup in consumer confidence, a bigger-than-expected budget surplus and rising property values. The NZD/USD settled at .7269, up 0.0038 or +0.53%. Weekly NZD/USD Recent indicators have painted a rosy picture of the NZ economy. Consumer confidence rose last month, according to the ANZ consumer confidence index, while the governments operating surplus for the first eight months of the year, at $2.85 billion, topped the Treasurys December forecast of $2.36 billion. Additionally, the average value of a New Zealand home rose 7.3 percent in the year to March, its biggest gain in nine months. Although daily prices fell at last weeks Global Dairy Trade auction, New Zealands biggest product, whole milk powder, gained. Story continues Join our Telegram Channel Forecast This weeks price action is expected to continue to be impacted by the ongoing dispute between China and the United States. Broadly considering the impact of a trade war between the two major economies, export-sensitive currencies like the Aussie and Kiwi are likely to attract selling pressure. Well also get a further reaction from demand for higher-risk assets. The wildcard event that will move the markets will be the announcement of the start of formal negotiations between the United States and China to end the trade war. Traders will also get the opportunity to react to U.S. consumer and producer inflation as well as the Federal Open Market Committee minutes from its March meeting. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Fundamental Daily Forecast Rally Capped by Rising Production, Lower Demand, Return of Mild Weather Commodities Daily Forecast April 9, 2018 Stellars Lumen Technical Analysis Resistance Levels in Focus 09/04/18 Gold Prices Still Choppy Bitcoin Finds $7,000. Can the Week Deliver an $8,000? Stable Prices in Cryptos Early This Week View comments
[Random Sample of Social Media Buzz (last 60 days)]
Today is April 5th 85 years to the day that FDR signed Executive Order 6102 "forbidding the hoarding of gold coin, gold bullion, and gold certificates within the continental U.S." It also happens to coincidentally be Satoshi's birthday $BTC #CryptoHistory https://en.wikipedia.org/wiki/Executive_Order_6102 … || 04/30 18:00 Crypto currency sentiment analysis.
BTC : Positive
BCC : Positive
ETH : Positive
ETC : Positive
https://goo.gl/5hp6Cz #BTC || Total Market Cap: $399,802,634,487
1 BTC: $8,927.98
BTC Dominance: 37.95%
Update Time: 23-04-2018 - 12:00:02 (GMT+3) || Bitcoin exchange Coinbase launches early-stage venture fund https://goo.gl/Eg4oE9 #bitcoin #hodl || BTC-XEM AskRate: 0.00003303 #Bittrex #XEM $XEM #NewEconomyMovement #altcoin #bitcoin #cryptocurrencies
FOLLOW for PROFIT || 2018/04/05 18:30
#Binance 格安コイン
1位 #TNB 0.00000393 BTC(2.9円)
2位 #NCASH 0.00000402 BTC(2.97円)
3位 #POE 0.00000403 BTC(2.97円)
4位 #IOST 0.00000408 BTC(3.01円)
5位 #STORM 0.00000414 BTC(3.06円)
#仮想通貨 #アルトコイン #草コイン || Monero Hard Fork Appears Successful As Devs Shun Bitmain’s ASIC Miners https://ift.tt/2Hesp0z *** Tinking about bitcoins? Hashflare: http://hashflare.io/r/75830726 or Genesis mining: https://ift.tt/2BmC6Xl Come with me. #blockchain #bitcoin #profitpic.twitter.com/jZxIlrO1UW || Current price of #Bitcoin is $9150.00 || K popularizaci #bitcoin patří i tento aprílový článek na @iDNEScz.
CzechCoin zní dobře :-) #Crypto #cryptocurrencyhttps://technet.idnes.cz/ceska-oficialni-kryptomena-bitcoin-alternativa-f57-/sw_internet.aspx?c=A180321_192937_sw_internet_pka … || Gold provides all of the functions of money that silver provides. Is silver obsolete? Worthless?
A consensus has emerged that Litecoin has value despite knowledge that Bitcoin could be hard-forked to obsolesce LTC. It's baked in. Until then, when moon?
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Trend: down || Prices: 8247.18, 8513.25, 8418.99, 8041.78, 7557.82, 7587.34, 7480.14, 7355.88, 7368.22, 7135.99
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
PayPal and Apple enter major partnership: (BI Intelligence)
This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, pleaseclick here.
PayPal and Apple have partnered to give users the ability to use PayPal as a payment method when paying for Apple’s services, which includes the App Store, Apple Music, and iTunes, to name a few.
The feature will be introduced in 12 markets, including the US and the UK, and it will be integrated with several devices across Apple’s ecosystem, including the iPhone, iPod, Apple TV, and Apple Watch.
For PayPal, this has short-term and long-term implications:
• The immediate impact for PayPal is getting access to a massive revenue stream.Revenue from Apple services, which is mostly made up from the App Store, reached $7 billion in Q4 2016, up 18% year-over-year (YoY). Although the financial terms of this deal have not been disclosed, we can estimate the potential impact. If PayPal were to charge Apple 1.25% per transaction, which is much lower than the 2.9% fee it often charges merchants, and if PayPal accounts for a third of spend on the App Store in 2017 — which will be based on consumers spending a total of $40 billion on the iOS App Store, according to an App Annie estimate — PayPal would see $166 million in revenue for 2017.
• In the long run, PayPal’s partnership with Apple could give the firm an opportunity to integrate itself into Apple's future services.Over the last few years, Apple has indicated that it plans to turn its chat app, iMessage, into a robust ecosystem. The app now includes P2P payments, games, and other apps, with even more features coming in the fall with the launch of iOS 11. Although it hasn't been confirmed, it's reasonable to assume that one feature coming down the pipeline is the ability to buy products via iMessage. With PayPal already being a payment option within Apple's ecosystem, users may be more willing to use it going forward.
BI Intelligence, Business Insider's premium research service, has compileda detailed report on payments disruptionthat:
• Identifies the biggest drivers that are upending the payments industries in India, East Africa, Latin America, and Australia.
• Discusses what pain points digital payment services are solving.
• Details what specific technologies and services are being introduced that consumers are embracing, which can be leveraged by companies in these regions that are ripe for disruption.
• Assesses how leaders in the space can leverage these trends to either improve their capabilities or to identify which markets may be ripe for disruption and worth exploring.
• And much more
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• PayPal has a new weapon in the P2P payments battle
• Fintech could be bigger than ATMs, PayPal, and Bitcoin combined
• THE CONVERSATIONAL COMMERCE REPORT: Chatbots' impact on the payments ecosystem and how merchants can capitalize on them || GOLDMAN SACHS: Bitcoin could see a big drop then surge to almost $4,000: 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 had a blistering first half of 2017. It rallied from about $1,000 a coin to a record high near $3,000 before finishing June near $2,500. It booked a first-half gain of about 168%. The historic run for the cryptocurrency has prompted observers both in the tech world and on Wall Street to talk about the cryptocurrency being in a "bubble." Last week, Jeffrey Kleintop, the chief global investment strategist at Charles Schwab, suggested bitcoin was in a bubble unlike any we had ever seen before . Kleintop's warning came just a few weeks after tech billionaire Mark 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." Goldman Sachs thinks bitcoin could see a big drop before running to another record high. In a note to clients sent out Sunday, Sheba Jafari, the head of technical strategy at Goldman Sachs, suggested that while bitcoin's correction hadn't run its course, the cryptocurrency was ultimately heading higher. Jafari wrote bitcoin was "still in a corrective 4th wave" that "shouldn't go much further than 1,857." That would make for a drop of about 25% from its current level. But bitcoin enthusiasts shouldn't worry too much, according to Jafari, because from there she sees the fifth wave of the move taking the cryptocurrency to a record high. "From current levels, this has a minimum target that goes out to 3,212 (if equal to the length of wave I)," Jafari wrote. "There’s potential to extend as far as 3,915 (if 1.618 times the length of wave I). It just might take time to get there." Bitcoin (Goldman Sachs) NOW WATCH: An economist explains the key issues that Trump needs to address to boost the economy More From Business Insider How often you should wash your bed sheets, according to a microbiologist — and what happens when you don't Bitcoin's 'bubble' is unlike anything we've ever seen before Bitcoin is tumbling || 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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Forex - Dollar gains amid Fed remarks and sterling weakness || Everything to Know About Today’s 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 their Windows-based computer systems that it was only a matter of time before another digital siege surfaced. It seems their predictions have borne true.
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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., 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 Maersk, the Danish shipping giant, Rosneft, the Russian oil company, WPP, the British advertising agency, and , 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 malwareoperatedindustrial systems. These machines can be hard to patch because they run critical processes are difficult to take offline.“Organizations like these typicallyhave 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 Networks explains 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.
See original article on Fortune.com
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• Cyber Attack Strikes Airports, Banks, and Oil Giants in Russia and Ukraine || 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 || PotCoin: The Marijuana Company That Sent Dennis Rodman Back To North Korea: Former NBA superstar and Hall of Famer Dennis Rodman is once again flying to North Korea to meet with Supreme Leader Kim Jong Un, thanks to the support of its sponsor, PotCoin. PotCoin is a community-based (Bitcoin-inspired) cryptocurrency that was created exclusively for the legal cannabis industry, partly responding to the absence of traditional financial services like credit card payments. Related Link: Banking Problems In The Cannabis Industry Are 'Somewhat Overblown In The Press' Although Rodman has visited the enigmatic Asian country several times in the past and established a close relationship with Kim Jong Un, the purpose of this particular trip is still a mystery. “Headed back to North Korea. Thank you http://www.PotCoin.com for sponsoring my mission. I'll discuss when I return,” Rodman said in a tweet. Almost oxymoronically, Rodman claims to be a friend of both North Korean Supreme Leader Kim Jong Un and American President Donald Trump. Could he be, as his agent Darren Prince claims, “trying to use his relationship to open the line of communication and send a message of peace and understanding?” According to Rodman, the purpose of this trip is “to open a door” between the United States and North Korea. However, he does not plan to discuss detained Americans at the time, he added. Benzinga has reached out to the PR agency in charge of this trip’s news, and to PotCoin itself, and is still awaiting a response. Keep tuned in for further details. PotCoin gained more than 82 percent on Tuesday trading, closing at more than $0.18 per coin, taking its total market cap close to $40 million. More From Benzinga: The 420 Investor On MedReleaf's Rough IPO: The Stock Is Still A 'Screaming Buy' 'Get Lit': Blend's Data Reveals How Millennials Talk About Weed _____ Image Credit: By OPEN Sports - http://www.flickr.com/photos/opensports/3321699182/, CC BY 2.0, via Wikimedia Commons See more from Benzinga What's The Relationship Between Innovation And Long-Term Prosperity? 'Gaining The Edge': A Preview Of One Of The Top Hedge Fund Conferences Catalyst Funds CEO Talks Converting A Hedge Fund Into A Mutual Fund: Major League Strategies For Little League Investors © 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin exchange operator tied to hacks gets 5-1/2 years U.S. prison: By Jonathan Stempel
NEW YORK, June 27 (Reuters) - A Florida man was sentenced on Tuesday to serve 5-1/2 years in prison after pleading guilty to operating an illegal bitcoin exchange suspected of laundering money for hackers and linked to a data breach at JPMorgan Chase & Co.
Anthony Murgio, 33, of Tampa, pleaded guilty on Jan. 9 to three conspiracy counts, including bank fraud and operating an unlicensed money transmitting business. The sentence was roughly half as long as prosecutors sought.
Murgio and co-conspirators were accused of having processed millions of dollars from 2013 to 2015 into the virtual currency bitcoin through the unlicensed exchange Coin.mx.
Prosecutors said many transactions were conducted by victims of ransomware, a malicious software that locks up data unless people pay "ransom" to unlock it. Cybercriminals often demand ransom paid in bitcoin.
The alleged schemes also involved the takeover of a New Jersey credit union to shield their activity. The credit union was later liquidated.
"Mr. Murgio led an effort based on ambition and greed," and constructed on a "pyramid of lies," U.S. District Judge Alison Nathan in Manhattan said during the sentencing hearing.
Nathan imposed a sentence shorter than the 10 to 12-1/2 years recommended by prosecutors and federal guidelines, citing Murgio's generosity to friends and support to his family.
Murgio unsuccessfully fought back tears and lost his composure several times in expressing "enormous regret" for his crimes, which the judge credited as genuine.
"I am wiser today than when the case began, and I am sorry for all the damage I caused to so many people," Murgio said. "Believing what I was doing was okay did not make it okay."
Murgio's lawyer Brian Klein emphasized how his client had taken responsibility for his "grievous decisionmaking."
In contrast, Assistant U.S. Attorney Eun Choi pointed to the ransomware victims in seeking a stiffer sentence.
"He exploited their desperation to personally profit from them," she said.
Murgio's father, Michael, pleaded guilty last October to an obstruction charge tied to the credit union.
Anthony Murgio was one of nine people criminally charged following an investigation into the JPMorgan breach, which exposed more than 83 million accounts.
Prosecutors said Coin.mx was owned by Gery Shalon, who was extradited last June from Israel to face U.S. charges. He has pleaded not guilty.
In March, a Manhattan jury convicted Florida software engineer Yuri Lebedev and New Jersey pastor Trevon Gross of scheming to help Coin.mx conceal its activities from banks and regulators. They have yet to be sentenced.
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) || 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. || Bitcoin Rockets Past $3,000 to a New Record High: In just four hours of early Saturday trading, the price of the cryptocurrency Bitcoin surged over 9% to a new record. At the time of this writing, one Bitcoin is valued at $3,169.90, well above the previous record of $3,000 setin June.
Bitcoin’s total market value is now more that $52 billion, according to data from CoinMarketCap, and the return on Bitcoin investments made on January 1st of this year stands at nearly 220%.
Bitcoin will almost certainly remain a highly volatile asset, but its latest high reflects a major positive development. After years of heated debate over how to increase the Bitcoin network’s transaction capacity, major players have finally agreed on a compromise solution known asSegwit2x. That accomplishment is reassuring for those who may have begun to doubt the effectiveness of Bitcoin’s leaderlessgovernance model.
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The Segwit2x solution also seems to have driven Bitcoin’s price higher in a less direct way. On Tuesday, a faction who disagreed with the proposal spun off a so-called ‘fork’ of Bitcoin, known asBitcoin Cash, which implemented a different fix. All holders of Bitcoin received matching Bitcoin Cash, which now trades as BCH on exchanges, and has a total current value of $3.75 billion.
However, the price of Bitcoin Cash has declined steadily over the last two days as Bitcoin and other major cryptocurrencies have surged. That suggests investors are cashing out of the upstart fork, which has sparse support fromminersand exchanges, and pumping their gains back into older, more trusted, and more widely-adopted cryptocurrencies. || Is Bitcoin a Currency or a Bubble?: • (0:30) - Bitcoin Value Triples in 2017
• (2:00) - How To Buy Bitcoin and Who is Buying It?
• (7:20) - How is Bitcoin Impacted By Ransomware
• (9:40) - How Does Bitcoin Have Value?
• (12:20) - Bitcoin V.S. Ethereum
• (14:00) - How To Invest Into Bitcoin
• (20:55) - Marijuana Cryptocurrency, Initial Coin Offering and Block Chain Tech
• (25:40) - Episode Roundup: [email protected]
Welcome to Episode #86 of the Zacks Market Edge Podcast.
Every week, host and Zacks stock strategist, Tracey Ryniec, will be joined by guests to discuss the hottest investing topics in stocks, bonds and ETFs and how it impacts your life.
In this episode, Tracey is joined by Dave Bartosiak, editor of the Zacks Momentum Trader and Home Run Investor, and who also hosts Zacks Live Trader, which trades options on YouTube, to discuss a topic that is getting a lot of interest on Wall Street: the Bitcoin trade.
Bitcoin is a digital currency which has tripled in value in 2017. It hit as high as $3,000 before pulling back.
Whenever something triples in a short period of time, you can be guaranteed that people are taking notice and want to get in.
What IS Bitcoin? Tracey knows it from the ransomware attacks but it’s more complex than that. Dave breaks it down.
How Can You Play the Bitcoin Trade?
1. Buy Bitcoin using the Bitcoin wallet.
2. If you qualify, buy the Bitcoin Investment Trust (GBTC), which is called the “ETF of Bitcoin” even though the SEC has turned down the Winklevoss’ attempt to actually launch an ETF. The SEC has been concerned the market is unregulated. The GBTC trades on the OTC market.
3. Invest in hedge funds that buy Bitcoins.
4. Buy into companies that are developing the back end, such as Microsoft’s (MSFT) cloud business, Azure, which just won a contract with India’s largest banks to host the nodes that will relay transactions on their distributed ledger systems. Amazon (AMZN) is another option as its cloud business has been pushing blockchain for over year.
Investing in Bitcoin is difficult. Trading it is pretty easy.
The industry reminds Tracey of the marijuana trade, which is also hot but hard to invest in. She and Dave did a podcast earlier this year on the marijuana stocks: Can You Get Rich Off the Marijuana Stocks?
Is Bitcoin the new tulip mania?
Will it crash and burn or is there something to this rally?
Find out the answers on this week’s podcast.
[In full disclosure, Tracey owns shares of AMZN in her personal portfolio.]
Want to Learn How to Trade Options?
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Watch him go through the trade as he answers your questions in real time.
Become one of Dave’s minions. Join the Zacks Live Trader community today. Click here for a free 14-day trial >>>
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 reportClick for Free Amazon.com, Inc. (AMZN) Stock Analysis Report >>Click for Free Microsoft Corporation (MSFT) Stock Analysis Report >>SPDR-GOLD TRUST (GLD): ETF Research ReportsSPDR-SP 500 TR (SPY): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment Research
[Random Sample of Social Media Buzz (last 60 days)]
#bitcoin #miner Antminer S9 L3+ Power Supply APW3+-12-1600-A3 PSU - Ready to Ship!!! $349.00 http://ift.tt/2v0gnkW pic.twitter.com/OgN17WwXQ9 || #BTC 24hr Summary:
Last: $2711.67
High: $2743.00
Low: $2650.00
Change: 0.70% | $18.87
Volume: $ 10744.40
$BTC… https://twitter.com/i/web/status/878342242204762113 … || $#BTCUSD: #BitCoin (1884.00) Huge%MoveUP+ (+2%), 25DyChgHi:-32%, PrvCLo, 2:1Accel+, tf:0000001, 4LoDays:33%, DyVol:827:0x:0x || 1 BTC Price: BTC-e 2471.99 USD Bitstamp 2489.00 USD Coinbase 2487.24 USD #btc #bitcoin 2017-07-07 19:30 pic.twitter.com/yFuiDBPmYg || #Bitcoin -0.65%
Ultima: R$ 8980.00 Alta: R$ 9097.89 Baixa: R$ 8901.62
Fonte: Foxbit || Attualmente il valore del #Bitcoin è $2379.15 via @Chain || #Bitcoin #News: "Bitcoin 0.1 Btc" http://bit.ly/2rw3hxO || Send just 1 #bitcoin to get 2277.60$ on your XAPO card now! http://ift.tt/2of1GGd || Becky’s Affiliated: Where to follow Bitcoin at #iGaming industry events with Eric Benz http://tinyurl.com/y8ygyhum || 0.040657662681360694 btc pic.twitter.com/91mCOWzI9R
|
Trend: up || Prices: 3378.94, 3419.94, 3342.47, 3381.28, 3650.62, 3884.71, 4073.26, 4325.13, 4181.93, 4376.63
|
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 2017-07-27]
BTC Price: 2671.78, BTC RSI: 55.07
Gold Price: 1259.60, Gold RSI: 62.04
Oil Price: 49.04, Oil RSI: 64.66
[Random Sample of News (last 60 days)]
Hoax Over ‘Dead’ Ethereum Founder Spurs $4 Billion Wipe Out: The creator of the digital currency Ethereum, Vitalik Buterin, died in a car crash and insiders are selling like crazy--or so said the headline. It soon became clear the news, posted to notorious troll site 4Chan, was fake but it still gave the price of the currency quite a jolt.
As Quartz reports, the hoax coincided with the overall market value of Ethereum falling by around $4 billion after the news was posted on Sunday night. Here is a chart fromCoindeskthat shows what happened to the currency after that:
Buterin himself took steps to quell the false rumors on Sunday night, posting a tongue-in-cheek picture on Twitter. The picture refers to a new use case for blockchain (the technology that underlies Ethereum) and cites a new piece of data from Ethereum to show he is still alive--it’s like a geek’s version of holding up today’s newspaper.
Buterin’s posting appears to have helped quell the sell-off that followed the fake headline about his death. But the whole episode shows how digital currencies like Ethereum and Bitcoin, which are already volatile, can be subject to market manipulation. (It’s possible of course that someone posted the fake death headline as a mere prank--but the more likely explanation is the stunt was intended to move the market).
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The death hoax came amid a rocky few days for Ethereum. Last week, a so-called “flash crash” saw the crypto-currency briefly plummet to ten cents on a major exchange, before bouncing back up to a price of over $300.
Ethereum, which has emerged this year as a serious rival to bitcoin, has been on a tear since early this year when it sold for only $10. (To get a better idea on what Ethereum is all about, check out my colleague Robert Hackett’smagazine profileof Buterin from last summer.)
See original article on Fortune.com
More from Fortune.com
• Coinbase to Pay Back Ethereum Flash Crash Losses
• Russia Says Terrorists Use Telegram in Heightened Push Against the App
• Facebook Rejected Search Warrant After Philando Castile Shooting
• CIA Director Praises Trump's Love of Facts, Slams Leakers
• Windows 10 Source Code Leaked || Barclays has spoken to regulators about bringing bitcoin 'into play': Barclays (London Stock Exchange: BARC-GB) has been in discussions with regulators and financial technology – or fintech – firms about bringing cryptocurrencies like bitcoin "into play", the bank's U.K. chief executive told CNBC on Monday. Ashok Vaswani revealed that the banking giant has met with Britain's Financial Conduct Authority (FCA) watchdog to talk about how to make bitcoin safe in response to a question about whether Barclays could support bitcoin. "We have been talking to a couple of fintechs and have actually gone with the fintechs to the FCA to talk about how we could bring, the equivalent of bitcoin, not necessarily bitcoin, but cryptocurrencies into play," Vaswani told CNBC at the Money 20/20 fintech conference in Copenhagen, Denmark. "Obviously (it's) a new area, obviously an area we've got to be careful with. We are working our way through it." Vaswani did not expand on to what extent Barclays could be involved with bitcoin. Barclays has recently been involved in the digital currency space. Last year the bank partnered with social payments app Circle. The start-up, which received a license from the FCA last year, allows users to send money to each other in messages, and supports bitcoin. Barclays provided Circle with an account to store sterling, as well as the payments network to transfer money. Banks have typically been very cautious of being associated with any companies involved with bitcoin due to the cryptocurrencies bad reputation as being used to buy illegal items on the so-called "dark web". But the world's largest cryptocurrency by market cap has seen rising retail investor interest, as well as a major rally since the start of the year that has seen its price hit record highs. Even though the price has pulled back in recent days and there is still volatility, regulators are becoming interested in bitcoin, which is lending legitimacy to the digital currency. For example, Japan made it legal for merchants to begin accepting bitcoin as payments and Russia is also looking at ways to regulate it. The FCA in the U.K. has been cautious on bitcoin, however. Story continues Chris Woolard, the FCA's executive director of strategy, said that there needs to caution from institutions dealing with bitcoin. "We don't prohibit regulated firms from engaging in digital currency trading, nor do we prohibit banks from offering banking services to deal with currency firms that use [blockchain]. I am not saying that we view digital currencies as an inherently bad thing… but we do have to exercise a degree of caution," Woolard said at a recent event, according to website Financial News. While bitcoin has garnered plenty of interest recently, the banking industry is focused on using the technology that underpins it called blockchain. This is a distributed public ledger of activity on the bitcoin network. Banks see blockchain-like technology being applied to areas of their businesses from trading to money transfers. The promise is cost savings and faster processes. Barclays and a number of other banks have been trialing different use cases for blockchain technology. Last year, the U.K. bank tested derivative trading using blockchain technology. Still, the industry admits it is early days and more work needs to be done to integrate this into everyday processes in banks. "(We're) working on it, (it's) not ready for prime time, we'll get there soon," Vaswani told CNBC. More From CNBC India's digital payments giant Paytm to offer credit card and lending services Ethereum crashed from $319 to 10 cents in seconds on one exchange after huge trade Bitcoin start-up Blockchain raises $40 million from Google, Richard Branson || BlackBerry shares rocket on bullish analyst note: Shares of BlackBerry(Toronto Stock Exchange: BB-CA)spiked 10 percent on Thursday after a note from Citron Research setting a 24-month price target of $20 per share.
The noted short seller sees new life in BlackBerry as an internet-of-things provider and a key player in the autonomous car market.
Citron is bullish on BlackBerry's QNX operating system, which it says is a "potential game changer in autonomous driving." It names QNX's customers, which include Audi, Bentley, BMW, Buick, Chervolet, Chrysler, Ford, Hyundai, Honda, Toyota, Volkswagen and more. Citron compared BlackBerry with Nvidia(NASDAQ: NVDA)noting that the two companies are participating in markets with plenty of growth potential.
The firm addressed the bear case, in which BlackBerry's QNX technology may be quickly outclassed by tech titans such as Apple(NASDAQ: AAPL)and Google(NASDAQ: GOOGL), which are also investing in autonomous car technology. "Citron believes if anything this validates BlackBerry's position and makes it ripe as an acquisition target for countless suitors," it said. "Qualcomm recently purchased NXP for its exposure in Automotive, Internet of Things, security and Networking."
Citron said it's also bullish on BlackBerry because of its potential to have a big role in the internet of things, particularly as a company known for its security. Internet of things devices have a long history of being insecure, and BlackBerry is working to change that.
More From CNBC
• Bitcoin may hit $4,000 by the end of the year: Analyst
• Elon Musk’s idea of merging machines with humans is ‘alarmist’, CEO of top A.I. firm says
• This start-up is offering $8,000 blood transfusions from teens || SinglePoint Expects Significant Revenues Increase as Cannabis Subsidiary Receives Initial Payment for New Major Purchase Order: SEATTLE, WA--(Marketwired - Jun 27, 2017) - SinglePoint ( OTC : SING ) announces that its recently acquired DIGS Hydro subsidiary has received a major purchase order from Premier Biomedical ( OTCQB : BIEI ). DIGS Hydro has received the initial payment with final payment due on delivery. Based on recent discussions between the parties, Premier Biomedical plans to continue to order its supplies from DIGS Hydro, a provider of a variety of supplies and services specifically to the cannabis industry. "This opportunity for both SinglePoint and DIGS Hydro is fantastic. We have been working very hard on making acquisitions and inside sales to boost revenues. To have this subsidiary execute on its business plan and generate major revenue for SinglePoint is exactly what we want to see. We are very excited about the second quarter financials and showing the significant revenue increase," SinglePoint CEO Greg Lambrecht states. Premier Biomedical offers a rounded suite of products, and with DIGS Hydro has found a reliable supplier of additional products. The synergies between Premier Biomedical, DIGS Hydro and SinglePoint enable each company to quickly and efficiently grow their operations. William Hartman CEO and co-founder for Premier Biomedical states, "We are excited we found a supplier for the products we need. This significantly increases the company's initiatives and enables us to grow the revenue of the offerings we have. We look forward to working with DIGS Hydro and SinglePoint to continue building our relationship together." DIGS Hydro, of which SinglePoint owns a 90% stake ( http://nnw.fm/oh7ZW ), has two brick-and-mortar retail stores and has plans to open a third. As evidenced by today's news, SinglePoint's acquisition-based revenue growth strategy is gaining traction. As a result, SinglePoint expects to report a significant increase in revenues in its second-quarter financial statements. The acquisition of DIGS Hyrdo has also enabled SinglePoint to make numerous contacts in the cannabis industry, most of which are potential acquisition targets or customers for one of the many offerings SinglePoint has developed. Story continues SinglePoint is diligently working to develop viable solutions, and reports that potential clients are now starting to engage with the company. SinglePoint has acquired multiple companies in the cannabis space, and is pursuing additional acquisition opportunities in the wake of increased market attention and recognition. As part of its push to increase revenues in 2017 through acquisition and inside sales of the company services, management is negotiating multiple contracts and is onboarding new clients. Further supporting these endeavors is SinglePoint's recent capital raise ( http://nnw.fm/G8dn5 ) to fund additional projects such as Bitcoin Payments, currently in development ( http://nnw.fm/7XlMo ). This project has been green lighted and architecture for development has been completed. SinglePoint has engaged a recruiting firm to help find a block chain expert and is in negotiations with potential candidates. Additional announcements on timeline and delivery will be made soon. About Premier Biomedical, Inc. Premier Biomedical, Inc. ( OTCQB : BIEI ) is a research-based publicly traded company that intends to discover and develop medical treatments for a wide range of diseases in humans. Premier has obtained, via exclusive license agreements, the technology behind three granted U.S. patents, multiple pending provisional patents, and a PCT Europe National Patent. Founded in 2010, Premier has partnered with the University of Texas at El Paso (UTEP). The company's R&D efforts are centered in El Paso, Texas; its business offices are in Western Pennsylvania. For more information, visit: http://www.premierbiomedical.com About SinglePoint, Inc. SinglePoint, Inc. ( OTC : 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: http://wwww.facebook.com/SinglePointMobile http://www.twitter.com/_SinglePoint_ http://wwww.linkedin.com/company/SinglePoint http://wwww.youtube.com/user/SinglePointMobile For more information visit http://wwww.SinglePoint.com or http://wwww.SingleSeed.com 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. || This high school dropout who invested in bitcoin at $12 is now a millionaire at 18: Erik Finman made a bet with his parents that if he turned 18 and was a millionaire, they wouldn't force him to go to college. Thanks to his savvy investments in bitcoin and the current all-time high valuation, he won't have to get his degree. "I can proudly say I made it, and I'm not going to college," Finman said. He currently owns 403 bitcoins (Exchange: BTC=-USS) , which at the current $2,700 a coin puts his bitcoin value at $1.09 million. He also has smaller investments in other cryptocurrencies, including litecoin and ethereum (Exchange: ETH=) . Bitcoin is very volatile , and the value could decline rapidly. A technical analyst told CNBC he believes bitcoin will only go up to $2,800 before the value recedes, while others think it may reach $100,000 in a decade . Finman thinks its best days are still ahead. "Personally I think bitcoin is going to be worth a couple hundred thousand to a million dollars a coin," he said. Bitcoin and the blockchain technology it is built on allow people to cut out the middleman, Finman explained. For example, an open source blockchain ride-share platform would allow users to power the service on their phones using peer-to-peer technology without a central hub. It would allow the drivers to get more money by cutting overhead costs, he added. It could also create the next evolution of the internet, one which wouldn't be reliant on servers. The first time, he turned $1,000 into $100,000 Finman began investing in bitcoin in May 2011 at the age of 12, thanks to a $1,000 gift from his grandmother and a tip from his brother Scott. Though he's close with his family — which he calls the "Elon Musk version of the Kardashians" — growing up in "small town" Idaho outside of Coeur d'Alene wasn't easy. Finman was especially frustrated with his high school teachers, and begged his parents to let him drop out at 15. "(High school) was pretty low quality," he said. "I had these teachers that were all kind of negative. One teacher told me to drop out and work at McDonald's (Tokyo Stock Exchange: 2702.T-JP) because that was all I would amount to for the rest of my life. I guess I did the dropout part." Story continues Surprisingly, his parents — who met pursuing their Ph.D.s at Stanford — agreed. Finman sold his first bitcoin investments at the end of 2013, when they were valued at $1,200 a piece. With the $100,000 Finman launched an online education company called Botangle in early 2014 that would allow frustrated students like him to find teachers over video chat. He also used the funds to move to Silicon Valley, did some fun things like meet Reddit co-founder Alexis Ohanian and traveled. "I really liked Colombia," he said. "It was fun, but a little sketchy. Some interesting stuff happened. I was held up at gunpoint there, which is pretty scary, but I have this emergency button I programmed in Android that puts you on speaker but turns off audio automatically and dials [a local emergency number]." "Maybe I'll turn that into an app," he added. "It's handy." It was hard getting people to take a 15-year-old tech entrepreneur seriously, Finman admitted. He recalled being called in to interview with a "really, really high-up" unnamed Uber executive, who instead of listening to his Botangle pitch discouraged him and told him he would never win the bet with his parents. Eventually he found a buyer for Botangle's technology in January 2015. The investor offered either $100,000 or 300 bitcoin, which had dropped in value at that time to a little more than $200 a coin. He took the lower cash value bitcoin deal because he believed it was "the next big thing." "My parents asked 'Why don't you take the more cash?"' Finman explained. "But I thought of it more of an investment." Since then, Finman has been managing his family and his own bitcoin investments. He's also kept busy on other projects, including working with NASA to launch a rocket through the ELaNa project . One thing he won't do is go back to school. "I never got my GED, and I don't see the value in it," Finman said. "The purpose of that would be to get another education level and get a job. I had to learn through running a business. Instead of writing essays for English class, I had to write emails to important people." Although the rest of his family has degrees — his brother Scott went to Johns Hopkins at 16 and now has an enterprise software company, while his other brother Ross went to Carnegie Melon at 16 for robotics and is now pursuing his Ph.D. at MIT — he's happy learning about the real world from experience. "The way the education system is structured now, I wouldn't recommend it," Finman said. "It doesn't work for anyone. I would recommend the internet, which is all free. You can learn a million times more off YouTube (NASDAQ: GOOGL) and Wikipedia." WATCH: How practical is it to live on bitcoin in 2017? We tried it for a week More From CNBC Amazon is planning to rival Google with a service that translates languages Ethereum drops more than 10% even after flash crash refund Pandora CEO Tim Westergren plans to step down || Bitcoin is giving gold a run for its money: trader: How safe is the safe haven trade? By David Nelson, CFA Stocks ended the shortened holiday week close to the flatline. Bonds and gold finished under pressure, as investors rotated out of traditional safe haven assets. US yields pushed higher on the heels of a better-than-expected jobs report coming in at 222k (above consensus at 185k). US 10-year yield 5 years Source: Bloomberg German 10-year yields also rose, holding onto their post-election breakout last November. German 10-year yield 5 years Source: Bloomberg Will Japan be next? Even Japanese 10-year yieldsin a nearly two-decade slumpare threatening to break the downtrend line. Source: Bloomberg However, of more concern for asset allocators, is gold ( GLD , GC=F )the ultimate safe haven trade. This is the asset thats supposed to protect us from all adversaries (e.g., inflation, geopolitical turmoil
even a nuclear event). Early in the year, the yellow metal put in a bottom and, certainly on a short-term basis, gold bugs could rejoice. After the lows late December, gold shot up a quick 25%, and even after a rough couple of weeks, is still up close to 15% for 2017. Source: Bloomberg Despite its year-to-date strength, I find the breakdown last week concerning, as it comes in the face of dollar weakness, where there is a strong inverse correlation. Golds selloff after the election was textbook, as the US dollar climbed higher on hopes of the Trump agenda igniting the reflation trade. The rise in gold after the bottom in December was in lockstep with the fall of the Greenback. However, starting in June, the ultimate safe haven trade has struggled even in the face of continued dollar weakness. Benign inflation certainly hasnt helped the gold price action. Central bankers are quick to tell us they expect inflation to meet their target, failing to recognize that cheap oil, which touches the cost of many products, is a secularnot cyclicaldynamic. Geopolitical instability or military action often provides a lift in gold. However, following North Koreas test launch of an ICBM near the Fourth of July break, gold barely budged, dashing hopes of a breakout. Story continues Bitcoin the rising threat? Cryptocurrencies and, of course Bitcoin, have captured the attention of nearly every speculator on the planet. Theres no doubt the underlying technology, blockchain, is here to stay. Many banks, including JPMorgan ( JPM ), are exploring it as well as developing their own systems. Source: Bloomberg It wasnt that long ago that I interviewed NASDAQ Vice Chair Sandy Frucher on iHeart Radio, where he told me to expect NASDAQ to embrace blockchain for its back office and clearing operations. Gold has long been the alternative to fiat currenciesgiving its holder a hard asset that retains value in the face of any geopolitical, inflationary, or economic challenge. How much is that worth in the face of competition? Therein lies the concern. The first human interaction with gold likely took place nearly 3,000 years before Christso theres some 5,000 years of history. Its way too soon to write off gold as the alternative currency of choice, but competition usually means lower prices. Bitcoins success will likely come at the expense of gold and provide another example of the zero-sum-game . - Please contact your Belpointe investment advisor representative if there are any changes in your financial situation or investment objectives. Investment advice is offered through Belpointe Asset Management, LLC. Past performance is no guarantee of future returns. Insurance products are offered through Belpointe Insurance, LLC and Belpointe Specialty Insurance, LLC. It is important to read our email disclosures available at this link: http://belpointe.com/disclosures . || Is Advanced Micro Devices, Inc. (AMD) Stock on a Comeback?: InvestorPlace - Stock Market News, Stock Advice & Trading Tips A few weeks ago, we said that it was “Do or Die Time” for Advanced Micro Devices, Inc. (NASDAQ: AMD ). At that time, shares took a dive from earnings, rallied on rumors of a deal with Intel Corporation (NASDAQ: INTC ) and fell when doubts came along. At that point, AMD stock was just above support and we weren’t sure if it would hold. AMD Stock: Is Advanced Micro Devices, Inc. (AMD) Stock on a Comeback? Source: Matthew Rutledge via Flickr From our perspective, the bulls were still in control, but barely. If the $10 level were to fail, bears would seize control. That didn’t happen though, as AMD stock put together a more than 13% rally over the past three days . So what should investors do? We’ll get to the technical outlook in a moment, but first, let’s touch on the fundamentals. Inside Advanced Micro Devices Why did AMD stock get such a strong bounce in early June? Two reasons really drove it higher. The first, it became known that Advanced Micro Devices’ RX 500 graphic chips can be used to “mine” cryptocurrencies like Bitcoin . This product launched in April and is still sold out at many online retailers. This has investors optimistic that revenue will be strong and demand will continue once retailers are able to restock. Given Bitcoin’s bubble-like rise , the mania certainly looks set to continue for some time. Additionally, Apple Inc. (NASDAQ: AAPL ) just held an enormous event, its WWDC conference. Aside from big announcements regarding the HomePod speaker, a new iOS and everything here , there was something else for AMD. Investors are cheering for AMD’s RX Vega GPU. Specifically, that the iMac Pro will use one of two types from the Vega lineup , the Radeon Pro Vega 56 or the Radeon Pro Vega 64. Both are quite powerful and will be the driving computing force in Apple’s new devices. The effort likely comes on Apple’s part of trying to boost its virtual reality capabilities. Advanced Micro Devices’ recent additions bode well for its business moving forward. Management is returning the company to profitability in 2017, which is a lot harder than it sounds. Over the past nine months, debt has fallen 37% and its valuation (compared to Nvidia Corporation (NASDAQ: NVDA ) and Intel) is attractive. Trading AMD Stock AMD stock, AMD, Advanced Micro Devices Click to Enlarge Source: Stockcharts.com So where does that leave AMD stock? I’m a levels-guy first, meaning I look for historic areas of support and resistance. I like to keep it simple. In Advanced Micro Devices’ case, that level comes into play around $12.25. On Tuesday, AMD made it to $12, but it was unclear if it would climb above it. On Wednesday, AMD stock flew past it, up to $13 at one point. Story continues AMD stock is now above the 50-day moving average too. And even though it gave up the bulk of its gains on Wednesday with that instant pullback from $13, it was a constructive move. Finally, there’s the relative strength index and the MACD. The RSI (blue circle) tells us if a stock is overbought when the reading is above 70. Fortunately, AMD stock is not in this territory yet. MACD tells us momentum. For AMD, momentum is positive, but appears to be nowhere near running out of gas. Both of these indicators are bullish. Why Facebook Inc (FB) Stock Is Heading to $170 So are there negatives? Yes, a few. Although not pictured, AMD has not gotten above its 100-day moving average. Additionally, the two red stars on the chart mark where AMD stock has struggled, failing to clear $13. Given the strong volume the past few days, it is more likely the stock trades higher rather than lower. A move below $12 and the 50-day moving average may change that. But like we said a few weeks ago, for now, AMD stock is still running with the bulls. Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell . As of this writing, Bret Kenwell held no position in any stocks mentioned. More From InvestorPlace 8 No-Brainer Retirement Stocks to Buy 10 Best Cheap Stocks to Buy Now Under $10 Citigroup Inc (C) Stock Is an Underappreciated Breakout Buy The post Is Advanced Micro Devices, Inc. (AMD) Stock on a Comeback? appeared first on InvestorPlace . View comments || Freed by the Fed, JPMorgan Is Back in the Acquisition Business: Less than a week after the Federal Reserve declared it well enough capitalized to do pretty much as it pleased , JP Morgan Chase returned to the dealmaking business, with a move on U.K. payments company Worldpay. Shares in the company soared 27% Tuesday in anticipation of a bidding war, after Worldpay announced it had received preliminary approaches from both JP Morgan and credit card processor Vantiv. Market participants sense that there could be more interested parties out there, since France’s Ingenico had also expressed interest in the company in 2015. The share price action added $2.5 billion to Worldpay’s value Tuesday, giving it a market capitalisation of over $10.5 billion. Read: For PayPal, Mobile Continues To Drive Growth A move on Worldpay would be JP Morgan’s biggest deal since it agreed to buy Bear Stearns and Washington Mutual during the 2008 financial crisis. Since those deals, its main priority has been to ease concerns about it being ‘too-big-to-fail’ . The news comes only days after the Fed ruled that the house of Jamie Dimon, and the U.S.’s largest banks, now had more than enough capital to deal with any realistic risk scenarios and cleared them to return billions of dollars to shareholders in the form of dividends or buybacks. Worldpay was spun out of Royal Bank of Scotland in 2010, as part of the EU’s conditions for approving the U.K.’s 43 billion pound bailout of RBS during the financial crisis. It was first bought by private equity groups Bain Capital and Advent International, before being listed on the London Stock Exchange in 2015. Read : Why Mastercard Bought VocaLink for $920 Million Payments has long been seen as one of the areas of banking most ripe for disruption by technology from companies such as Stripe and Square. It’s also a highly fragmented market and one begging for consolidation. Worldpay has profited from the worldwide migration by consumers towards cashless transactions. It processed nearly 15 billion transactions last year, a number that has doubled since 2012. It covers 126 currencies in 146 countries. However, it is seen as relatively weak in the U.S., making it a good strategic fit for any of the three big U.S. payments players (Global Payments Inc. is JP Morgan and Vantiv’s biggest rival in the domestic market). Under U.K. takeover rules, Worldpay’s announcement means that Vantiv and JP Morgan now have until August 1 to confirm their intentions or walk away. See original article on Fortune.com More from Fortune.com Airbnb Is Testing a Feature That Would Let You Split the Cost With Friends New 'Borderless' Accounts From TransferWise Make It Easier To Bank Overseas Why Bitcoin's Price Has Been Surging and Where It Could Go From Here Tencent and Alibaba Are Engaged in a Massive Battle in China Bitcoin Hits New All-Time High View comments || 7 Cryptocurrency Predictions From the Experts: Fortune convened some top cryptocurrency entrepreneurs, venture capitalists, bankers, and others to chat about the future of digital money at Fortunes Brainstorm Tech conference in Aspen, Colo. last week. A select group met at the Aspen Institute for a breakfast roundtable discussion on Wednesday morning. Headliners on the panel included Balaji Srinivasan , CEO and cofounder of 21.co, a cryptocurrency startup that has raised more in traditional VC funding than almost other one. Another was Peter Smith, CEO and cofounder of Blockchain, a U.K.-based cryptocurrency wallet company that recently raised $40 million from GV , the venture capital arm of Alphabet , parent company of Google goog . And Kathleen Breitman, CEO and cofounder of Tezos, a blockchain startup that this year raised more than $200 million in an initial coin offering, or ICO, and which counts celeb investors Tim Draper and Mark Cuban among its backers. The crew of experts weighed in on everything from the longevity of Bitcoin, the original cryptocurrency and blockchain, or cryptographically secured public ledger, to the latest trend of hosting so-called token sales to fund projects, especially on Ethereum , a rival blockchain to Bitcoins, to the future of a decentralized web. Here are some of the predictions we heard. Get Data Sheet , Fortunes technology newsletter. 1. Bitcoin and Ethereum are here to stay. Most people who are enthusiastic about cryptocurrency appear to agree that Bitcoin and its newer rival Ethereum have staying power, though they may be more bullish on one versus the other. In terms of 5 to 10 years, Bitcoin and Ether will be around I bet, Balaji Srinivasan told the room of more than 70 people. Peter Smith said his company, Blockchain, which was early to Bitcoin, has only just started to warm up to newcomer Ethereum. In contrast, Mike Cagney, CEO and cofounder of SoFi, a personal finance company, said during a separate session on the main stage that he was hotter on the latter technology . Story continues Bitcoin has some purpose but its application for commercial transaction is limited right now, Cagney said. The blockchain and Ethereum, on the other hand, have absolutely fascinating infrastructure applications, he continued, mentioning the possibility to overhaul title insurance, which involves policies related to real estate, as one example. 2. As yet unknown coins will hit the big time. Bitcoin and Ethereum may have stolen the show at this point, but the innovation wont end there. Expect more winners on the horizon. Kathleen Breitman is hopeful that Tezos, her own blockchain bet, will fill a niche that solves problems with extant blockchains. In particular, she and her projects developers are designing Tezos to automatically push software updates out to the network, thus, in theory, avoiding the divisive feuding over upgrades that has wracked systems like Bitcoin over the past few years. No one can say how many tokens and coins and blockchain protocols will eventually win out, but the experts seem to think theres room for a multitude. Its likely that another one or two dominant ones we havent seen yet in the market, Smith projected. Another really dominant coin could come out this year or next year. 3. Sure, people will get burned. For the time being, token sales might seem like a fantastic way to raise a lot of money quickly and with few questions asked. Will this lead to riches for some? Undoubtedlyindeed, it already has. And rip-offs for others? Almost certainly. Smith said he presumes that market manipulation and insider dealing is rampant among purveyors of initial coin offerings. Were cautious about it in the short term, Smith said of his company. But you have to temper that with the idea that every new technology is going to be like that in the beginning. Brad Garlinghouse, CEO of Ripple and a former executive at Yahoo , voiced his less forgiving concerns about the sector on a separate panel. Heavily regulated markets are typically heavily regulated for a reason, he said. Frauds are happening, people are going to jail. 4. ICOs will (eventually) give Silicon Valley and Wall Street a run for their money. The days of making a pilgrimage to the homes of the holders of purse strings are coming to an end. In a world where anyone can participate as an investor online, physical location matters much less. It used to be you had to come to Silicon Valley, walk up Sand Hill Road, network with individuals, Srinivasan said about entrepreneurs seeking funding, often strolling up a strip to the west of Palo Alto that long has been associated with venture capital firms. ICOs change all that. Projects are already getting funded this Kickstarter-like new way. Breitman said she that when she set up Tezos token sale, she aimed to get as many people who wanted to participate in the ecosystem to contribute. The company raised more than $200 million to date and, according to her, more than 30,000 Tezos wallets have been opened. 5. Regulations will stick. Elena Kvochko, chief information officer of the security division at Barclays, said that her bank has had many talks with regulators about Bitcoin and its ilk. The rule-sticklers actually dont mind working with Bitcoin, she said. What they do care about is financial institutions obeying know your customer laws, which prevent terrorists and other sanctioned groups from getting financed. Meanwhile, as governments settle on sets of rules of the road, countries like Switzerland, Singapore, and Estonia are jostling to develop frameworks that easily accommodate the new technology, Srinivasan said. Theyre seeking to displace geographic incumbents and become hubs for a new wave of business financing. If youre a U.S. person or business, you have a good deal to be concerned about, Smith said. Breitman added that until the rules are agreed upon, its best to be transparent about what one is doing. 6. Speculation will subside as killer apps take hold. As cryptocurrency prices fluctuate wildly, speculators have been having a field day. However, theres reason to believe the markets will become more stable, as Bitcoin gradually has over the past couple of years (despite its still big price swings), Smith said. In order for these computer coins to catch on big-time, they need a use-case that beats traditional money. Ideally, this ought to be better than merely buying drugs, as Jeff John Roberts, Fortune reporter and the sessions moderator, noted. Srinivasan proposed one possible scenario. Imagine that all your waking hours are spent in the Matrix, he said, referring to a virtual reality in which everyone is enmeshed in the future. As people from all over the world meet and interact, they will need a medium of exchange. To transact, you cant just hand over a dollar bill, Srinivasan said. You need an international currency for that. It might take a while but theres going to be more of a need to transact across borders than there is today, he said. 7. Cryptocurrencies will pressure incumbents to improve . Whenever a consumer swipes or dips a credit card, payment processors charge a fee. Nicko van Someren, chief technology officer of the Linux Foundation, pointed out that the fee companies like Visa or Mastercard charge exceeds the cost to clear or settle transactions. These businesses can potentially process transactions quicker and cheaper, he contended. One potential outcome of the adoption of alternate systems, like Bitcoin, is to provide companies with the impetus to improve their services. Bitcoin is good because it will make banks move toward the real cost of handling these transactions, van Someren said. (By extension, in Ethereums case, one could imagine upstart companies built on it forcing giants like Amazon , Facebook , or Dropbox to reconsider or improve their respective offerings.) Smith, meanwhile, was less optimistic about incumbents ability to adapt to such change. I dont think be lot of room for banks to simply adjust their price models, he said. || Bitcoin soars to a new high: (Markets Insider)
Bitcoinis trading in record territory, up 6% at $2,848 a coin, propelled byheavy buying from China and Japan, according to Newsbtc.
Tuesday's advance has the cryptocurrency higher for the 33rd time in 38 days. It has rallied about 144% during that time.
Recent buying has come on the heels ofChina's three biggest exchanges resuming withdrawalslast week for the first time since February andJapan naming bitcoin a legal payment methodback in early April. Additionally,Russia's largest online retailer began accepting bitcoineven though has Russia said it wouldn't consider the use of the cryptocurrency until 2018.
However, there remains one big unknown. Back in March, theUS Securities and Exchange Commission rejected two bitcoin exchange-traded funds. It has since taken public comment on its decision regarding an ETF started by the Winklevoss twins, but it has not made an additional ruling.
Bitcoin is up 200% in 2017.
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• Bitcoin is getting close to its all-time high
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[Random Sample of Social Media Buzz (last 60 days)]
Exchanges Bitfinex and BTC-e Underwent DDOS Attacks, As a Result Bitcoin Price Falls to $2424 http://www.coinspeaker.com/2017/06/15/exchanges-bitfinex-btc-e-ddos-attacks-result-bitcoin-price-falls-2424/ … via @Coinspeaker || BTC Real Time Price: ThePriceOfBTC: $2523.71 #GDAX;
$2532.19 #bitstamp;
$2517.54 #gemini;
$2520.94 #kraken;
$2485.00 #btce;
$2527.19 #itBit… || doubt it with today's blood bath... good job btc. || Could Switzerland Become Home to the First-Ever Crypto Mutual Fund? - https://thebitcoinnews.com/could-switzerland-become-home-to-the-first-ever-crypto-mutual-fund/ … $BTC #bitcoin #cryptocurrency #crypto || $2840.00 at 01:30 UTC [24h Range: $2780.43 - $2868.23 Volume: 8082 BTC] || Gana $45,00 Usd Por Afiliar, Quieres ganarte dólares con Bitcoin sin tanto esfuerzo? Es solo de ···· https://goo.gl/Cdo6SQ > #España || MORGAN STANLEY: Bitcoin isn't a currency http://sco.lt/88dhXF || Right about the time btc fully rebounds so it can be trading at $10usd || Current price of Bitcoin is $2760.00 || 7:00~8:00のBitcoin市場は反騰でした。
変化率は0.1578%
9:00までは反騰?
直近の市場の平均Bitcoinの価格は277088.0円
#ビットコイン
#bitcoin
#AI
|
Trend: up || Prices: 2809.01, 2726.45, 2757.18, 2875.34, 2718.26, 2710.67, 2804.73, 2895.89, 3252.91, 3213.94
|
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 2019-01-17]
BTC Price: 3678.56, BTC RSI: 45.06
Gold Price: 1291.00, Gold RSI: 65.62
Oil Price: 52.07, Oil RSI: 55.56
[Random Sample of News (last 60 days)]
Bitcoin Investor Who Lost $1 Million: Crypto Still ‘a Force for Good’: A bitcoin investor who lost $1 million in the bear market still believes the original cryptocurrency is a “force for good.” However, Peter McCormack warns others to be more careful with their money.
“I wish I had taken everything out before the bubble burst,” McCormack wrote at theGuardian. “I have earned money in the past through hard work and enjoyed it more.”
McCormack started investing in bitcoin in 2016, after the London advertising agency he managed folded. He says he started with an initial investment of £5,000 (US$6,400).
As prices rose, he bought up even more BTC. When the value of his holdings spiked to $300,000 in the spring of 2017, McCormack was hooked.
As excitement built, more and more people got involved, forming the conditions for a bubble. But many of us were too caught up in the hype to exercise caution.
By December 2017 — when thebitcoin pricesoared to almost $20,000 — McCormack’s portfolio had ballooned to $1.2 million.
McCormack says escalating media coverage of the then-budding crypto market fueled the bitcoin mania. The virtual currency’s erratic price fluctuations commanded countless headlines.
Like other newbie investors who get rich quick but lack money-management skills, McCormack spent money carelessly.
I was traveling the world doing interviews for my podcast, taking friends out to expensive restaurants and buying extravagant gifts for my family…Much of my spending was quite frivolous.
By January 2018, the bitcoin price cratered from its record highs. As a result, Peter McCormack lost most of his money. He now supports himself with his podcast and says he would choose his podcast over the $1.2 million he lost.
Despite his harrowing experience, McCormack still believes bitcoin “is a force for good.” For example, he noted that women in Afghanistan are not allowed to open bank accounts, but can still work and get paid in bitcoin.
“My main focus now is exploring how bitcoin could help stabilize an increasingly volatile world,” he says.
Peter McCormack’s riches-to-rags story is being touted on social media as a cautionary tale about the dangers of crypto.
However, it bears noting that far more people have lost far more money on traditional investments.
As CCN reported, software pioneerJohn McAfeeclaims he lost $100 million during the 2008 global financial crisis. That was caused by Wall Street greed, not by “fringe” investments like bitcoin.
Now, McAfee is so disgusted with the corruption of the government and legacy financial systems that herefuses to pay any more taxes.
McAfee says he has not filed a tax return in eight years and dared the IRS to come after him.
While white-shoe bankers routinelytrash crypto as shady, here’s a reality check: Wells Fargo — the third-largest US bank (overseeing $2 trillion in assets) — recently agreed to pay $575 million after admitting that itscammed its own customersfor 15 years.
The fine comes just months after the mega-bank dismissed bitcoin as “too risky” an investment.
Since 2016, Wells Fargo has racked up more than $2 billion in fines. Why? Because it admitted that it systematically defrauded its own clients for almost two decades. Let that sink in.
Featured Image from Shutterstock
The postBitcoin Investor Who Lost $1 Million: Crypto Still ‘a Force for Good’appeared first onCCN. || Hackers Demand Bitcoin After Taking Down Dublin’s Tram System Website: The website ofDublin’s light rail system, Luas, has gone down after it was hacked, the Irish Examiner hasreported.
Consequently, visitors to the website, which has been offline for more than three hours now, are being greeted with a message that the hacker(s) posted citing their demands.
The unidentified hackers are demanding to be paid onebitcoinin five days or they will release privileged data that they have obtained. In the message (which has been slightly edited for clarity) the hackers alluded to their frustrations at their previous attempts to extort Dublin’s light rail system:
You are hacked. Some time ago I wrote that you have serious security holes you didn’t reply. The next time someone talks to you, press the reply button. You must pay 1 bitcoin in 5 days otherwise I will publish all data and send emails to your users.
At the bottom of the message is a bitcoin address to which the hackers want the ransom payment sent to.
It is unclear what kind of information the hackers have obtained since the Luas website is mostly informational with limited interactive features. According to reports, the Luas’ payment website that is used by passengers to pay for fare violations has not been affected.
On Luas’ Twitter account, users were advised not to visit the compromised website and to instead call for enquiries:
The website of Dublin’s tram system is being held to ransom just days afterTheDarkOverloadhacking group claimed to be in possession of stolen information touching on the September 11, 2001, terrorist attack in New York. The hacking group is threatening to release the information with a view of offering ‘many answers about 9.11 conspiracies’, as CCNreported:
Per TheDarkOverload, the information was obtained from insurance firms includingLloyds of Londonand Hiscox Syndicates – these were some of the insurers of the World Trade Center structure which was one of the targets of the terrorists during the 9/11 attack.
The group, which is threatening to publish all the privileged information unless paid a ransom in bitcoin, is mostly targeting law firms, property managers, insurers and law enforcement agencies among others:
If you’re one of the dozens of solicitor firms who was involved in the litigation, a politician who was involved in the case, a law enforcement agency who was involved in the investigations, a property management firm, an investment bank, a client of a client, a reference of a reference, a global insurer, or whoever else, you’re welcome to contact our e-mail below and make a request to formally have your documents and materials withdrawn from any eventual public release of the materials.
Featured image from Shutterstock.
The postHackers Demand Bitcoin After Taking Down Dublin’s Tram System Websiteappeared first onCCN. || NYC Bets on Crypto: Opens 4,000-Sq-Foot Blockchain Center amid Bitcoin Bear Market: New York City is doubling-down on crypto despite the bitcoin bear market. The NYC Economic Development Corp. opened a 4,000-square-foot Blockchain Center on Thursday (Jan. 10) amid the Crypto Winter. Why? Because the EDC is in it for the long haul, says an executive.
“We are playing the long game,” Ana Arino — the chief strategy officer at the EDC — toldBloomberg. “It’s a nascent technology, so there’s bound to be uncertainty around this evolution from year to year.
While we don’t know what the future holds, we want to make sure we have a seat at the table shaping it.
The Blockchain Center is located in the trendy Flatiron district in downtown Manhattan. It joins other crypto and tech startups that populate New York’s Silicon Alley tech hub. That’s Manhattan’s smaller version of California’s Silicon Valley.
The center will offer coding classes and lectures to promote awareness and adoption ofblockchain, the distributed ledger technology underpinning bitcoin.
The center was financed by the Global Blockchain Business Council (a trade group) and venture-capital fund FuturePerfect Ventures.
The city of New York provided a one-time investment of $100,000. In addition, the center received funding from corporate partners, including Microsoft and IBM. The center plans to charge membership fees as it grows.
While naysayers declared thedeath of bitcoin90 times in 2018 due to plunging prices, even skeptics have praised the game-changing technology undergirding virtual currencies.
As CCN reported, the anti-crypto MIT Technology Review expects blockchain to becomeso mainstream in 2019that it will become “boring.”
Corporate juggernautWalmarthas been testing a private blockchain system for years to track its food supply.
Walmart will start using the system in 2019 and has urged some of its fresh-produce suppliers to join.
Similarly, French grocery mega-chainCarrefouris using blockchain to improve food safety by tracking chicken, eggs, and tomatoes as they travel from farms to stores.
Carrefour is Europe’s largest retailer with more than 12,000 locations around the globe, so big-name corporations are already investing in the space.
The emergence of blockchain into the mainstream isn’t surprising because the foundation was being laid since last year. In 2018, the Rockefeller family’s venture-capital arm Venrock stunned the crypto world by announcing it isinvesting in blockchain startups.
The Rockefeller family — with an estimated net worth topping $1 trillion — is one of the richest dynasties in the world. The Rockefeller name carries establishment cachet, from Wall Street to Main Street.
Venrock partner David Pakman underscored that his $2.6-billion investment fund is it for the long haul. Pakman said the fund is not interested in making short-term profits, but in making long-term investments to nurture blockchain technology.
The postNYC Bets on Crypto: Opens 4,000-Sq-Foot Blockchain Center amid Bitcoin Bear Marketappeared first onCCN. || Delta Boosts Its Order for the Slow-Selling Airbus A330neo: Four years ago,Delta Air Lines(NYSE: DAL)ordered 25Airbus(NASDAQOTH: EADSY)A330-900neos. Delta became Airbus' first marquee customer for the A330neo family, which had been officially launched just a few months earlier.
Since then, Airbus has struggled to build up a robust backlog of A330neo orders. But last week, Delta announced that it has ordered 10 additional A330-900neos -- and that it may continue to add to that order in future years.
Airbus hoped that Delta's initial A330neo order would provide a seal of approval for the updated version of its A330 wide-body family, giving other airlines the confidence to order the new models.
However, the Delta deal failed to drive much in the way of additional order activity. Airbus already had 121 commitments for the A330neo before it received the Delta order in late 2014. As of the end of September 2018, Airbus had only224 firm ordersfor the A330neo family.
Demand for the Airbus A330neo family has been tepid. Image source: Airbus.
This has forced Airbus to steadily reduce its production plans for the A330 family as a whole. The European aerospace giant plans to deliver just 50 A330s (including both the first-generation models and the "neo" models) in 2019, down from more than 100 annually between 2012 and 2015. To avoid further production cuts -- and eventually return to production growth -- Airbus needs to secure more orders.
Last Friday, Delta Air Lines and Airbus confirmed that the airline has expanded its A330-900neo order by 10 units, to a total of 35 aircraft. At the same time, Delta deferred its last 10 orders for the longer-range (and pricier) A350-900 to 2025 and 2026. It also has further flexibility on that order, and it could eventually convert the remaining 10 A350 orders to A330neos.
This order almost certainly explains the 10 A330-900neos thatshowed up in Airbus' backloglast month, attributed to an unidentified customer.
Delta also accelerated its A330neo deliveries. (Or, to be more accurate, it reversed a previous delay to its delivery schedule.) The carrier had originally planned to receive its first four A330-900neos in 2019, but by the beginning of this year, it expected the first four deliveries to come in 2020. Now, Delta expects to receive its first A330neo in 2019 once again.
The A330-900neo has enough range to cover the vast majority of Delta's current routes. Some of these aircraft may be used for growth (especially in the lucrative transatlantic market), but they will mainly replace Delta's oldestBoeing767s. Indeed, Delta has 19 767s that are at least 25 years old today -- and thus near the end of their useful lives -- and dozens more that were built in the mid to late 1990s and will be ripe for replacement a few years down the road.
The A330-900neo will be much cheaper to operate on a per-seat basis than Delta's 767s. This order will contribute to the carrier's effort to hold annual non-fuel unit cost increases to less than 2%, while improving fuel efficiency.
Meanwhile, by accelerating the delivery schedule a bit, Delta Air Lines will also be able to build up its inventory ofinternational premium economy seatsfaster, without having to invest in cabin modifications for older planes that will be retired soon anyway.
Many airlines are reluctant to order aircraft types like the A330neo, which don't seem to be catching on with other operators. Yet Delta Air Lines has shown that it can operate such "orphan" aircraft reliably. Given how urgently Airbus needs to rack up more A330neo orders, Delta probably got a very good deal on these planes, making the decision to buy more A330neos a wise one.
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Adam Levine-Weinbergowns shares of Delta Air Lines. The Motley Fool owns shares of Delta Air Lines. The Motley Fool has adisclosure policy. || Cryptocurrencies Price Jump as Facebook Develops Digital Tokens: Investing.com - Cryptocurrencies surged on Monday morning in Asia as social media giant Facebook (NASDAQ: NASDAQ:FB) was reported to be working on a digital token that could be transferred through the WhatsApp messaging app.
Bitcoin rose 3.8% to $4,144.5 and Ethereum leaped 13.46% to $146.01 at 1:42 AM ET (06:42 GMT).
XRP hiked 4.18% to $0.3864 on the Poloniex exchange, while Litecoin advanced 7.07% to $34.733 on the Bitifinex exchange.
Targeting the remittances market in India, Facebook’s digital currency will be pegged to the U.S. dollar for stability, according to a Bloomberg report. The company is currently working on the strategy, including a plan for custody assets.
WhatsApp has over 200 million users in India, where people sent $69 billion home last year, according to the World Bank.
Facebook did not confirm the report, but said it is “exploring ways to leverage the power of blockchain technology.”
Elsewhere, Argentina’s Athena Bitcoin has installed seven cryptocurrency ATMs in Buenos Aires, which will allow users to obtain bitcoin without waiting for confirmation on the blockchain, according to local media CriptoNoticias.
On the flipside, the regulatory surveillance on digital tokens will be tightened elsewhere. The U.S. Securities and Exchange Commission (SEC) will strengthen regulatory checks in the industry in 2019 due to its “significant growth and risks,” a report released last Thursday showed.
“For firms actively engaged in the digital asset market, OCIE [the Office of Compliance Inspections and Examinations] will conduct examinations focused on, among other things, portfolio management of digital assets, trading, safety of client funds and assets, pricing of client portfolios, compliance, and internal controls,” the report said.
The U.S. also introduced a bill to halt Iran from creating its own cryptocurrency as an extension to existing sanctions. The draft law seeks to ban transactions of any digital tokens from Iran and impose penalties on U.S. citizens and companies which offer financial and technological support to Iran for developing its own digital currency.
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Bitcoin Edges Forward Amid Reports of Crypto Industry Layoffs || Better Than Bitcoin? MIT, Stanford Profs Make Bold Claim about New Cryptocurrency: Researchers from seven colleges across the United States are working together on a supposedly groundbreaking cryptocurrency project which they say will offer scalability beyond anything that bitcoin can offer.
Known as Unit-e, the proposed cryptocurrency will purportedly have the capacity to rivalVisaandMastercardin terms of transactions processed per second. The participating professors include prominent researchers from the Massachusetts Institute of Technology (MIT), UC-Berkeley, Stanford University, Carnegie Mellon University, University of Southern California, and the University of Washington.
The researchers are working together under the banner ofDistributed Technology Research(DTR), a non-profit foundation backed by Pantera Capital for the purpose of developing next-generation digital currencies to achieve wide adoption. Unit-e should launch in the second half of 2019 with a stated goal of processing 10,000 transactions per second, which would put it out on its own as the network with the highest throughput ahead of Visa’s 1,700 transactions per second and Bitcoin’s ~10 transactions per second.
Explaining DTR’s vision for the proposed cryptocurrency,DTR lead researcher and Assistant Professor of Electrical and Computer Engineering atCarnegie Mellon University Gulia Fanti said:
In the 10 years since Bitcoin first emerged, blockchains have developed from a novel idea to a field of academic research. Our approach is to first understand fundamental limits on blockchain performance, then to develop solutions that operate as close to these limits as possible, with results that are provable within a rigorous theoretical framework.
With varied backgrounds in cryptography and computer science, the professors are all published researchers in the field of blockchain technology, and their idea for creating Unit-e’s promised scaling solution incorporates sharding and separate payment channel networks to aid transaction speed. In so doing, the team hopes that Unite-e will deliver on their promise to substantially outperform any other payment network – including bitcoin – in existence in terms of transaction security and speed.
Adding his voice to the conversation in an interview withBloomberg,Pantera Capital co-chief investment officer and DTR council member Joey Krug said:
The mainstream public is aware that [existing cryptocurrency] networks don’t scale. We are on the cusp of something where if this doesn’t scale relatively soon, it may be relegated to ideas that were nice but didn’t work in practice: more like 3D printing than the internet.
The initiative becomes the latest in a series of moves within the cryptocurrency space to deal with the seemingly intractable problem of scalability and speed. One such notable attempt to solve this problem is theLightning Network, which effectively acts as a second layer by creating channels between nodes, removing the need for every transaction to be recorded on the blockchain.
Images from Shutterstock
The postBetter Than Bitcoin? MIT, Stanford Profs Make Bold Claim about New Cryptocurrencyappeared first onCCN. || Why National Oilwell Varco Stock Slumped 12% in November: Shares ofNational Oilwell Varco(NYSE: NOV)lost 12.3% of their value in November, according to data provided byS&P Global Market Intelligence. That's after asell-off in the oil marketdimmed the optimism from the oil-field equipment company's recently released outlook and capital plans.
When National Oilwell Varco held its analyst day last month, two things stood out. First, the company unveiled a bullish outlook for the next three years. It expects revenue to rise 9% to 15% in 2019, driven by a more than 10% increase in capital spending by oil companies and its view that oil will be between $65 to $70 a barrel. Meanwhile, it anticipates revenue to grow at an 11% to 16% compound annual growth rate through 2021, given that it predicts oil to be in the $70s over that time frame.
Image source: Getty Images.
That growing revenue stream will enable the company to generate enough cash to pay its current dividend, achieve its leverage target, and make acquisitions with plenty of money left over. That led National Oilwell Varco to institute a $500 million stock buyback program, which is enough money to retire about 4% of its outstanding shares.
However, crude prices crumbled last month, falling 22% to around $50 a barrel, as market fears of tightening supplies quickly gave way to concerns that there is now too much oil on the market. That's after the U.S. granted waivers to most buyers of Iranian oil, which significantly diluted the impact of the sanctions it reimposed last month. That slump in oil prices could impact the budgets of oil companies, which would cut demand for the equipment National Oilwell Varco sells, making it harder for the company to achieve its rosy outlook.
While National Oilwell Varco expects strong revenue and profit growth in 2019 and beyond, the recent slump in the oil market came right as companies were setting their budgets for the coming year. Because of that, capital spending might not increase as much as the company expects, which could cause its results to fall short of expectations. That could weigh on the stock until oil prices and customer budgets start heading higher.
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Matthew DiLalloowns shares of National Oilwell Varco. The Motley Fool owns shares of and recommends National Oilwell Varco. The Motley Fool has adisclosure policy. || Looking North? Bitcoin Price Dip Forms Bull Flag Pattern: Bitcoin’s (BTC) minor pullback from two-week highs could end up fueling a breakout above the key hurdle of $4,140.
The world’s largest cryptocurrency by market value jumped to $4,090 at 17:15 UTC on Sunday â the highest level since Dec. 24 â validating the short-termbullish reversalconfirmed on Dec. 20.
Even so, the positive momentum has weakened slightly in the last 36 hours. As of writing, BTC is changing hands at $3,995 on Bitstamp, having clocked a low of $3,934 earlier today.
Ether Markets Are Mimicking Bitcoin’s 2015 Price Bottom
The 3 percent correction from two-week highs, however, has carved out abull flagon the technical charts. Put simply, the pattern often represents a pause in a rally and can accelerate the preceding bullish move.
So, it seems safe to say that the price pullback has pushed up the odds of an inverse head-and-shouldersbreakoutabove $4,140.
BTC has created a bull flag pattern â a bullish continuation setup â on the 4-hour chart.
Ethereum Classic’s Price Stumbles Amid Suspected 51% Attack
A 4-hour close above the upper edge of the flag, currently at $4,005, would confirm a bull breakout. That would signal a revival of the rally from the Jan. 6 low of $3,753 and would open the doors to $4,340 (target as per the measured move method).
Essentially, the flag breakout could end up yielding an inverse head-and-shoulders breakout above the neckline of $4,140.
More importantly, higher lows (marked by red arrows) at $3,566 (Dec. 27 low), $3,629 (Jan. 1 low) and $3,753 (Jan. 6 low) indicate that the bulls are in control. Therefore, crossing the flag resistance should not be a tough task.
As seen above, BTC is taking the support of the 5- and 10-day moving averages (MAs), validating the short-term bullish setup indicated by these upward sloping averages.
The 14-day relative strength index is holding in bullish territory above 50.00 and prices seem to have found acceptance above the 50-day MA hurdle.
The path of least resistance, therefore, is to the higher side.
• A bull flag breakout, if confirmed, could yield a break above the inverse head-and-shoulders neckline level of $4,140.
• A UTC close above $4,140 would confirm an inverse head-and-shoulders bullish reversal (transition from the bearish-to-bullish market) and open up upside towards the psychological hurdle of $5,000.
• The bears may feel emboldened if BTC violates the bullish-higher low pattern with a move below $3,566 (Dec. 27 low).
Disclosure: The author holds no cryptocurrency assets at the time of writing.
BitcoinÂimage via Shutterstock;Âcharts byÂTrading View
• Breakout Ahead? Bitcoin Closes on Key Price Hurdle
• The Coming Bifurcation of Bitcoin || Bitcoin Price Analysis: Strong Impulse Tests Macro Support Levels: Finally, after about a week or so of a tight, range-bound market, bitcoin poked right through support. This swift move dropped the price nearly 10% in the span of just a few short hours:
Figure 1:BTC-USD, Hourly Candles, 11% Drop
Not only did this move occur on high spread, it occured on high volume. This level of supply and overall lack of demand is nothing something you would want to see if you are feeling bullish regarding bitcoin’s market structure. Currently, we are sitting right on top of daily support levels and have yet to close a new low:
Figure 2:BTC-USD, Daily Candles, Current Support Level
While the volume and spread were pretty intimidating, it should be noted that the most immediate support level (shown above in blue) is currently holding. However, should this support level break, we should fully expect to revisit the support levels toward the bottom of the range in the low $3,000s. Until we see a daily close below the current support level, the trend model remains somewhat neutral. Although the market is swinging 10% in a day, the overall structure is neither bullish nor bearish.
It should be noted, however, that expansion of volume and price spread leading into support tests is often a sign of market distribution. A potentially bearish slant to the current downward impulse is present in the Bollinger Bands (BBands):
Figure 3:BTC-USD, Daily Candles, Bollinger Band Squeeze and Expansion
The BBands have been squeezing inward for days, which indicates the market has been consolidating — no surprise there since the market hasn’t really moved from its well-defined range. Looking at the daily BBands though, we do see the beginnings of a BBands expansion, indicating the market is done consolidating and is ready for its next major move.
In our case, the BBands are hinting toward a downward continuation. If we manage to break the blue support level shown above, we could potentially see a strong continuation of the macro downtrend.
As I stated before, I would like to see a close below the current support level before I go full-blown bear. Although the current market structure is neutral, it is starting to show the early signs of a strong bearish continuation. It’s also important to note that wearestill in a bear market. Just because bitcoin saw a couple of weeks of strong demand, that does not negate the months and months of downward pressure.
1. Bitcoin dropped 11% in one day as it finds itself testing its macro support level.
2. We have yet to close a new low, but the BBands are showing the market is coiled and ready for its next major move.
3. If we close below our current support level, the next logical test would be of the previous support level in the low $3,000s.
Trading and investing in digital assets like bitcoin is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Media related sites do not necessarily reflect the opinion of BTC Media and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.
This article originally appeared onBitcoin Magazine. || Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 23/12/18: Bitcoin Cash ABC Sees Red Bitcoin Cash ABC gained 1.76% on Saturday, reversing a 0.62% fall from Friday, to end the day at $195.96. A bullish start to the day saw Bitcoin Cash ABC rally to an intraday high $205.46 before hitting reverse, with a slide through to an early afternoon intraday low $180, the moves through the day leaving the major support and resistance levels untested. The days gain was the 5 th of the week, with Bitcoin Cash ABC reaffirming its near-term bullish trend formed at 15 th Decembers swing lo $73.53. At the time of writing, Bitcoin Cash ABC was down 1.5% to $193.02, with Bitcoin Cash ABC falling from a start of a day morning high $196.33 to a morning low $186.4 before steadying, the major support and resistance levels left untested early on. For the day ahead, a move back through to $194 levels would support a run at $200 levels to bring the first major resistance level at $207.61 into play before any pullback, more material gains unlikely on the day, with Saturdays high $205.46 likely to pin Bitcoin Cash ABC back from a breakout to $210 levels. Failure to move through to $194 levels could see Bitcoin Cash ABC pullback deeper into the red, with a fall through the morning low $186.4 bringing the first major support level at $182.15 into play before recovering, sub-$180 levels unlikely to be in play barring a crypto meltdown later in the day. {alt} Litecoin on the Bounce Litecoin rallied by 4.6% on Saturday, reversing most of Fridays 6.65% slide, to end the day at $31.59. A bearish start to the day saw Litecoin fall to a mid-morning intraday low $29.73, holding above the days first major support level at $28.86, before bouncing back to a late in the day intraday high $31.6. The days high came up well short of the first major resistance level at $32.3, with the extended bearish trend, formed at late Aprils swing hi $182.35 firmly intact, Litecoin continuing to fall well short of the 23.6% FIB of $60. Story continues At the time of writing, Litecoin was up 3.07% to $32.56, a bullish start to the day seeing Litecoin rally from a start of a day morning low $31.43 to a morning high $32.76, breaking through the first major resistance level at $32.22 to come within range of the second major resistance level at $32.84, before easing back. For the day ahead, a hold above the first major resistance level through the morning would support another run at the second major resistance level at $32.84 to bring $33 levels into play before any pullback, the third major resistance level at $34.71 unlikely to be in play through the day. Failure to hold above the first major resistance level at $32.22 could see Litecoin pullback through the morning low $31.43 to bring $30 levels and the first major support level at $30.35 into play before any recovery, sub-$30 support levels unlikely to be tested on the day. {alt} Ripple Finds Support Ripples XRP rose by 1.75% on Saturday, partially reversing a 5.46% slide on Friday, to end the day at $0.37303. An early morning fall to an intraday low $0.35534 was the only bearish move of the day, Ripples XRP holding above the first major support level at $0.3515 before finding support from the broader market. A late in the day intraday high $0.37964 came up well short of the first major resistance level at $0.3902, with Ripples XRP falling short of $0.40 levels for a 2 nd consecutive day, in spite of 4 days in the green for the current week. At the time of writing, Ripples XRP was up 1.57% to $0.37887, moves through the early morning seeing Ripples XRP rise from a start of a day morning low $0.37056 to a morning high $0.38358 before easing back, Ripples XRP coming up against the first major resistance level at $0.3833 early in the day. For the day ahead, a move back through the first major resistance level at $0.3833 would bring $0.39 levels and the second major resistance level at $0.3936 into play before any pullback, a major crypto rally needed for Ripples XRP to strike $0.40 levels on the day. Failure to move back through the first major resistance level could see Ripples XRP hit reverse later in the day, with a pullback through the morning low $0.37056 bringing $0.36 levels and the days first major support level at $0.3590 into play before any recovery, heavier losses unlikely on the day, in the event of a reversal. {alt} Buy & Sell Cryptocurrency Instantly This article was originally posted on FX Empire More From FXEMPIRE: The Week Ahead Trump, the FED Chair and the Shutdown in Focus Bitcoin Fails to Make it 7 in a row to Join the U.S Equity Markets in the Red GBP/USD Weekly Price Forecast British pound continues to sink Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 23/12/18 Bitcoin The Bulls Eye $4,300 as the Next Price Target S&P 500 Weekly Price Forecast stock markets get hammered for the week
[Random Sample of Social Media Buzz (last 60 days)]
1. #BTC: $3288.21 (-4.17%)
2. #XRP: $0.29 (-3.89%)
3. #ETH: $86.22 (-4.93%)
4. #XLM: $0.10 (-8.1%)
5. #USDT: $1.00 (-0.01%)
6. #EOS: $1.84 (-6.42%)
7. #BCH: $84.20 (-13.69%)
8. #LTC: $23.25 (-3.84%)
9. #BSV: $75.75 (-10.92%)
10. #TRX: $0.01 (-3.47%)
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|
Trend: down || Prices: 3657.84, 3728.57, 3601.01, 3576.03, 3604.58, 3585.12, 3600.87, 3599.77, 3602.46, 3583.97
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2021-10-18]
BTC Price: 62026.08, BTC RSI: 73.59
Gold Price: 1764.80, Gold RSI: 48.46
Oil Price: 82.44, Oil RSI: 76.45
[Random Sample of News (last 60 days)]
Natural Gas Weekly Price Forecast – Natural Gas Markets Form Nasty Shooting Star: The natural gas markets have rallied significantly during the course of the trading week to reach towards the $6.50 level before rolling back over. At this point in time, the market is looking very exhausted, which is not a huge surprise considering that we had gotten so parabolic. At this point, I have to question whether or not we have put in the top? That is a question that remains to be seen, but at this point in time it is very likely that we will be paying close attention to the idea of whether the winter is warm or cold, and that will throw this market around quite drastically. NATGAS Video 11.10.21 Yes, there is a significant lack of supply at the moment, but the question is how much longer will that last? It is likely that the market may have gotten far too ahead of itself at least in the short term, so I would not be surprised at all to see the $5.00 level tested. If we break down below there then I would start looking towards the $4.50 level for support, and then eventually the $4.00 level. Historically speaking, we are heading into a bullish time of year, so I do think that it is only a matter of time before people get involved, but maybe not necessarily at the $6.00 above. That being said, if we were to break above the $6.50 level, that would lead to an even more parabolic move, but at this point one would have to wonder how many people would be willing to buy at that region? 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: Silver Price Forecast – Silver Give Up Early Gains After Jobs Miss Crude Oil Weekly Price Forecast – Crude Oil Markets Expand Higher Delta Air Lines’ Earnings To Swing to Positive Territory For First Time in Seven Quarters US-Listed Mining Firms Are Holding Over $1 Billion In Bitcoins Secondary Share Sale Boost SpaceX’s Valuation To $100 Billion Gold Price Forecast – Gold Markets Give Up Early Gains || FOREX-Yen hits three-year low as global rally knocks safe-haven currencies: * Yen at lowest levels since October 2018 * Fed rate hikes in focus as dollar retreats * U.S. retail sales on Friday to be next test for dollar * Bitcoin hits $60,000 as traders eye first U.S. ETFs * Graphic: World FX rates https://tmsnrt.rs/2RBWI5E (Recasts with yen, adds details, latest prices) By Tommy Wilkes LONDON, Oct 15 (Reuters) - The Japanese yen skidded to a three-year low on Friday and was set for its worst week since March 2020, while the dollar headed for its first weekly decline versus major peers since the start of last month as global risk appetite rebounded. In cryptocurrency markets, the price of bitcoin topped $60,000 for the first time in six months and was not far from its record high on bets U.S. regulators will approve a bitcoin futures exchange traded fund. The dollar index slipped 0.1% to 93.9 and was down 0.2% for the week in what would be its first weekly loss in six weeks. The greenback tends to rise when investors seek safety. Global stock markets have rallied this week as fears about a stagflationary economy have been eased by forecast-beating corporate earnings in the United States. The Japanese yen was the biggest loser, dropping to as low as 114.4 yen per dollar, its weakest since October 2018. The yen is a safe-haven currency and has been knocked by the rebound in sentiment including in Asia. The dollar was last 0.5% higher at 114.31 yen — that brought week-to-date gains for the greenback of 1.9% in what would mark the worst week for the yen since March 2020. Analysts said investors who were long in dollars had been squeezed out of their positions in the past few days, and inflation data did not support a further rise in the currency. "The lack of any upside surprise in U.S. CPI (consumer price inflation) data and confirmation of existing expectations on Fed tapering in the minutes provided no catalyst for additional USD buying and hence the sell-off," said MUFG analyst Derek Halpenny. The greenback had rallied since early September on expectations the U.S. central bank would tighten monetary policy more quickly than previously expected amid an improving economy and surging energy prices. Story continues Minutes of the Fed's September meeting confirmed this week that a tapering of stimulus is all but certain to start this year, although policymakers are sharply divided over inflation and what they should do about it. Money markets are currently pricing in about 50/50 odds of a 25 basis point rate hike by July. The next gauge for the U.S. economy's health comes later on Friday with the release of retail sales figures. The euro edged up 0.1% to $1.1611 after touching $1.1624 on Thursday for the first time since Sept. 4. Sterling rose 0.5% to $1.3741 following its climb to the highest since Sept. 24 at $1.3734 overnight. The risk-sensitive Aussie dollar added 0.2% to $0.7428 before the gains fizzled. New Zealand's kiwi dollar jumped 0.4% to as high as $0.7065, extending Thursday's 1% surge. (Editing by Emelia Sithole-Matarise and Edmund Blair) || Dogecoin Remains Under Pressure After Yesterday’s Collapse: Dogecoinis currently trying to settle below $0.24 whileBitcoinis trying to get below the 50 EMA at $45,100.
Yesterday, crypto markets found themselves under huge pressure after Bitcoin moved back below the $50,000 level. Bitcoin became legal tender in El Salvador, but the country’s citizens had technical problems after the launch which may have served as a trigger for the sell-off.
Today, Bitcoin remains under pressure, although it has not reached yesterday’s lows near $43,000. This is a bearish sign for Dogecoin and other cryptocurrencies.Ethereumis currently trying to settle below the support level at $3,300, whileXRPis testing the support at the 50 EMA at $1.05.
Dogecoin managed to get below the support level at $0.2450 and made an attempt to settle below the next support at $0.24. RSI remains in the moderate territory despite the strong sell-off, and there is plenty of room to gain additional downside momentum in case the right catalysts emerge.
If Dogecoin manages to get below the support at $0.24, it will head towards the next support at $0.2350. A move below this level will open the way to the test of the support at $0.23.
On the upside, Dogecoin needs to get back above $0.2450 to have a chance to develop upside momentum in the near term. A move above this level will push Dogecoin towards the resistance level at $0.2520. In case Dogecoin climbs back above this level, it will head towards the resistance at $0.2570.
It should be noted that the market remains in a panic mode, and Dogecoin may easily ignore technical levels. The trading volume has increased materially compared to previous trading sessions so Dogecoin will likely remain volatile. In this light, traders should be prepared for fast moves and focus on the momentum as support and resistance levels may be easily breached.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
• Gold Price Futures (GC) Technical Analysis – Failure at $1795.00 Could Drive Market into $1757.40 – $1738.60
• U.S. Dollar Index (DX) Futures Technical Analysis – Trade Through 92.790 Minor Top Shifts Momentum to Upside
• Oil Price Fundamental Daily Forecast – Dollar’s Strength Offsetting Lingering Production Issues
• Natural Gas Price Fundamental Daily Forecast – Weather Forecasts Becoming Less Supportive
• EUR/USD Forex Technical Analysis – Enough Downside Pressure Building for Short-Term Test of 1.1787 to 1.1758
• SEC Considers Coinbase’s Crypto Yield Program As A Security. Brian Armstrong Responds || Silver Price Daily Forecast – Resistance At $24.00 In Sight: Silveris currently moving towards the resistance level at $24.00 while the U.S. dollar is losing some ground against a broad basket of currencies.
The U.S. Dollar Index is trying to get to the test of the support at the 20 EMA at 92.85. In case the U.S. Dollar Index manages to settle below this level, it will gain additional downside momentum and move towards the next material support level at the 50 EMA near 92.40 which will be bullish for silver and gold price today. Weak dollar is bullish for precious metals as it makes them cheaper for buyers who have other currencies.
Meanwhile,goldmanaged to get above the $1800 level and is trying to get above $1810. The next significant resistance level for gold is located at $1830. In case gold gets to the test of this level, silver will get more support.
Gold/silver ratio continues to move lower which is bullish for silver. Currently, gold/silver ratio is testing the support level at 75.65. In case this test is successful, gold/silver ratio will move towards the 75 level which will provide additional support to silver.
Silver managed to get above the resistance at $23.80 and is trying to get to the test of the next resistance level at $24.00. If silver manages to settle above this level, it will head towards the resistance at $24.20.
A successful test of the resistance at $24.20 will push silver towards the resistance at $24.50. In case silver gets above this level, it will head towards the next resistance at $24.70.
On the support side, a move below $23.80 will push silver back towards the support level at $23.50. If silver declines below this level, it will head towards the support at $23.20. A move below the support at $23.20 will open the way to the test of the next support level which is located at $22.90.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
• Silver Price Daily Forecast – Resistance At $24.00 In Sight
• Crude Oil Price Forecast – Crude Oil Markets Continue to Shoot Higher
• AUD/USD Price Forecast – Australian Dollar Powers Higher
• MicroStrategy Buys More Bitcoin Near Peak Levels
• GBP/JPY Price Forecast – British Pound Gives Up Early Gains Against Yen
• USD/JPY Price Forecast – US Dollar Fades at 50 Day EMA || Inflation Uncertainty Keeps Bitcoin Near A Six-Month High: Despite some global inflation worries, bitcoin remained near a six-month high early on Monday amid optimism that U.S financial regulators will soon approve crypto ETFs. Concerns over inflation also fueled demand for bitcoin, which has a limited supply compared with the ample number of currencies issued by central banks, which were printed to stimulate economies. Data provided by blockchain analytics firm CryptoQuant recently revealed that Bitcoin reserves held across all crypto exchanges fell to their lowest levels in a year. These suggest Crypto traders exhibited their intention to hold their bitcoin tokens close rather than exchange them for other fiat or digital assets with this decline. The Securities and Exchange Commission (SEC) decision at the world’s largest economy to permit the first bitcoin futures ETF to begin trading this week is expected to spur broader investment in digital assets. In the coming months, cryptocurrency players expect the approval of the first U.S. bitcoin ETF to trigger an influx of money from institutional investors who cannot currently invest in Bitcoin. Inflation worries also sparked interest in the pioneer crypto which are limited compared to the ample amount of currency issued by central banks in recent years to stimulate their economies. Last week, Bitcoin reached $62.3k, so close to Friday’s six-month high of $62,944 but still short of its all-time high of $64,8k reached in April. In the past, the SEC has questioned whether funds possess the necessary information to value cryptocurrencies or other related products. Additionally, there have been questions about the validity of ownership of coins held by funds, as well as the threat of hackers. Gensler’s appointment as head of the agency was welcomed by many crypto advocates. As they noted, he once taught a class at MIT’s Sloan School of Management called “Blockchain and Money.” However, he has also in recent months described the space as the “Wild West” and offered his support for more comprehensive regulation. Story continues Although Dallas Mavericks owner Mark Cuban has voiced his opposition to investing in bitcoin-based exchange-traded funds (ETFs), one of which could begin trading next week in the U.S. The Shark Tank star says that he preferred to purchase bitcoin directly. This article was originally posted on FX Empire More From FXEMPIRE: Gold Remains Defensive With Rising U.S Treasury Yields Best Stocks, Crypto, and ETFs to Watch This Week The Crypto Daily – Movers and Shakers – October 18th, 2021 Ethereum Is One to Watch Amid Speculation for Next Crypto ETF European Equities: Economic Data from China and Corporate Earnings in Focus Economic Data from China and the U.S in Focus Following Inflation Figures from New Zealand || RocketFuel To Issue its own Crypto Token through an Initial Exchange Offering (IEO) to Raise $15M and Implement Token-Based Loyalty Program.: SAN FRANCISCO, Aug. 25, 2021 (GLOBE NEWSWIRE) --RocketFuel Blockchain, Inc.(OTC: RKFL), a global provider of crypto payment solutions, today announced plans to issue its own crypto token through an Initial Exchange Offering (IEO) via a leading cryptocurrency exchange. RocketFuel is targeting a $15 million raise in the IEO from the issuance.
The coin will be used for a token-based loyalty program aimed at incentivizing shoppers to make purchases using cryptocurrencies or any other payment method.
The tokens will allow RocketFuel customers to redeem, unlock and purchase additional services and products like airline upgrades, hotel bookings, concert shows, sports events, etc. Customers can also earn tokens when they make purchases on RocketFuel’s payment ecosystem.
RocketFuel’s blockchain based loyalty program will be designed to address the growing loyalty fraud in the travel and other industries. The global pandemic hasn’t slowed the steep rise of loyalty fraud, but quite the opposite. As frequent flyer balances are left untouched by members, they become lucrative targets for fraudsters to swoop in and steal them without being noticed. According to a Morder Intelligence report, “the global loyalty management market was valued at US$4B in 2020 and expected to reach US$14B by 2026.” RocketFuel believes that its blockchain-based loyalty token will be virtually impossible to hack.
“We are very excited to announce our new token and loyalty program, which will benefit merchants and shoppers and will unlock various rewards within our platform. This will lead to more transactions and greater adoption of crypto which will ultimately benefit the entire crypto payment ecosystem and the people who support it,” said Peter Jensen, CEO of RocketFuel. “In addition, the funds acquired during the token distribution will be used to further fuel the rapid expansion of RocketFuel’s market share, product development, and marketing efforts.”
RocketFuel has been active in the payments space since its launch in Q1 2021 and recently announced the industry-first “Price Settlement Guarantee” feature which allows merchants to always receive deposits equal to the listed price of goods sold without ever being affected by the crypto-to-fiat exchange rate fluctuations. By releasing such industry-leading features through its one-click payment interface, RocketFuel is reinventing the payments space with benefits not seen in traditional payment platforms.
About RocketFuel Blockchain, Inc.RocketFuel is a global payments solution provider that provides online shoppers with a simple, easy-to-use, one-click checkout process that accepts payments with Bitcoin and 50+ cryptocurrencies. RocketFuel provides a highly secure and efficient shopping cart experience with significantly low fees for merchants, along with the benefits of no chargebacks and no card declines. RocketFuel's solutions focus on enhanced customer privacy protection eliminating the risk of a data breach while improving speed, security, and ease of use. Shoppers on RocketFuel powered online stores enjoy seamless check-out and forget the clunky cart paradigm of the past. RocketFuel merchants are able to implement new impulse buying schemes and generate new sales channels that are unavailable in other present-day e-commerce solutions. More information about RocketFuel is available at:www.RocketFuelBlockchain.com
Forward-Looking StatementsThe Company believes that this press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Terms such as "may," "might," "would," "should," "could," "project," "estimate," "pro-forma," "predict," "potential," "strategy," "anticipate," "attempt," "develop," "plan," "help," "believe," "continue," "intend," "expect," "future," and terms of similar import (including the negative of any of these terms) may identify forward-looking statements. Such forward-looking statements, including but not limited to statements regarding the plans and objectives of management for future operations, are based on management's current expectations and are subject to risks and uncertainties that could cause results to differ materially from the forward-looking statements. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the accuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, market acceptance of the company's products and services; competition from existing products or new products that may emerge; the implementation of the company's business model and strategic plans for its business and our products; estimates of the company's future revenue, expenses, capital requirements and need for financing; current and future government regulations; and developments relating to the company's competitors. Readers are cautioned not to place undue reliance on forward-looking statements because of the risks and uncertainties related to them. For further information on such risks and uncertainties, you are encouraged to review the Company's filings with the Securities and Exchange Commission ("SEC"), including its Annual Report on Form 10-K for the fiscal year ended March 31, 2021 and its Quarterly Report for the fiscal quarter ended June 30, 2021. The Company assumes no obligation to update any forward-looking statements as a result of new information or future events or developments, except as required by law.
COMPANY CONTACTKurt KumarEmail:[email protected]
INVESTOR CONTACTBen Yankowitz, CFOEmail:[email protected] || El Salvador Adopts Bitcoin Amid Glitches and Security Concerns: El Salvador adopted Bitcoin as legal tender Tuesday, deemed “Bitcoin Day,”following the passing of a law in June, making it the first country to do so. But while chains such as McDonald’s, Pizza Hut and Starbucks are now accepting the crypto as a form of payment, the much-anticipated rollout encountered several glitches. Now, several crypto payment firms are “rising to the occasion” to help.See:Bitcoin Will Replace Fiat Currency by 2050, Panel of Experts SaysFind:Up to $4.2 Billion in Lost Bitcoin Can Be Recovered – Be Wary of Scams
President Nayib Bukele tweeted on Sept. 7 that the “Chivo Wallet,” a storage app created by the government and “the official Bitcoin and Dollar wallet of the Government of El Salvador,” per its Twitter bio, was available on major app stores. According to the app’s website, users would receive a gift of $30 in Bitcoin. The commission-free app enables users to send money without intermediaries, 24/7, to withdraw dollars whenever they want and handle the currency they want — BTC or USD.
However, people reported problems downloading and operating the wallet, which was taken down soon after it went live, Cointelegraph reports. Bukele then tweeted the app would undergo a maintenance period to fix the issues.
Several big names however tweeted their enthusiasm, including Michael Saylor, Microstrategy co-founder, who replied to a user tweeting a picture buying a Starbucks coffee with Bitcoin, saying: “#Bitcoin on #Lightning is indestructible money moving at the speed of light.”
Vanessa Grellet, Head of Portfolio Growth at CoinFund, tells GOBankingRates that it’s important to understand that the Chivo wallet rollout in El Salvador has no impact on the underlying security of Bitcoin as a Layer 1 blockchain.
“The primary security risk for Bitcoin transactions involves the tools used to store, trade and make payments with digital assets — like certain types of crypto wallets, exchanges and other trading platforms,” Grellet says. “The security and technical proficiency of those platforms will be critical factors in driving mainstream adoption of Bitcoin and other digital assets for everyday retail transactions in the U.S. and elsewhere, like buying a coffee or groceries.”
According to the text of the law passed in June, approximately 70% of the population does not have access to traditional financial services.
“It is the obligation of the state to facilitate the financial inclusion of its citizens in order to better guarantee their rights; in order to promote the economic growth of the nation, it is necessary to authorize the circulation of a digital currency whose value answers exclusively to free-market criteria, in order to increase national wealth for the benefit of the greatest number of inhabitants,” she says.
Grellet notes that many citizens are heavily reliant on income from remittances — money sent from migrants back home — mainly flowing from the United States.
“Salvadorans leveraging bitcoin transactions through the launch of the Chivo wallet will help save an estimated $400 million a year on commissions for remittances. In order to maintain secure payments, Silvergate Bank, a U.S. federally-regulated and California state-chartered bank, will facilitate transactions in U.S. dollars,” she says.
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She adds that taking effective regulatory measures will help ensure that crypto wallets, exchanges and other trading platforms are able to process secure transactions while maintaining safety for users.
“Allowing residents to pay taxes and other debt with cryptocurrency in addition to hundreds of thousands of businesses accepting digital currencies as a payment will only aid in driving mainstream adoption,” she says.
Last year, the 2.5 million Salvadoran living abroad transferred almost $6 billion, or 23% of the country’s GDP, according to World Bank Data. Some experts are now cautioning users about the government’s new wallet.
Alex Gladstein, chief strategy officer for the Human Rights Foundation, tells CNBC that the Chivo wallet is no different than a bank, meaning that the government has the authority to freeze the value. He adds that he believes Salvadorans taking control of their financial destinies by transferring their bitcoin out of Chivo and into a wallet where they can exercise more control over the funds, CNBC reports. In addition, Jamie García, a Salvadoran who lives in the Canadian province of Saskatchewan, tells CNBC, “Is it hackable? We don’t know yet.”
“I think there’s financial bitcoin hygiene that a lot of people don’t understand when it comes to a custodial wallet, which is what Chivo is,” García continued. “It’s not even that people are distrustful of the government. People are distrustful of platforms like Mt.Gox — centralized entities that hold money, that have been hacked in the past.”
William Callahan, a former special agent in charge with the U.S. Drug Enforcement Administration and now serves as the director of government and strategic affairs for Blockchain Intelligence Group, tells GOBankingRates, that he can’t say that the new app is 100% safe because he doesn’t “know the technology behind it.”
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“What I can say is that transactions over the Bitcoin network are peer to peer and have been proven safe and reliable. This will allow family members to safely transfer value back to El Salvador. I do believe that money remittances from the U.S. and Canada to El Salvador will greatly benefit El Salvadorans who will be able to move money in their pockets and less toward traditional money remittance fees,” Callahan adds.
Several crypto payment companies, such as Flexa, are jumping on the Salvadoran opportunity. The company, which deems itself as the “fastest and most fraud-proof payments network in the world,” announced it would be enabling Flexa merchants to receive payments via the Lightning Network to receive payments from more bitcoin holders than ever before, “including users of Lightning-enabled wallet apps such as Eclair and Chivo,” according to a release.
As of Tuesday, Flexa-powered Lightning payments are live for some partners and merchants in El Salvador, “and will be rolling out to all Flexa merchants in the coming weeks,” according to the release.
And just today, Flexa announced it had partnered with the largest financial institution in El Salvador, Bancoagrícola, to enable bitcoin acceptance country-wide. Through this new integration, Bancoagrícola is now accepting Bitcoin across its network for payments toward loans, credit cards and merchant goods and services, according to the announcement.
“The bitcoin acceptance solutions introduced by Bancoagrícola and Flexa today are the first of their kind not only in Latin America but also across the globe. Bancoagrícola customers can now use any Flexa- or Lightning-enabled wallet app to pay bitcoin for U.S. dollar-based loans and credit card payments at the exact fair market rate, without any additional fee or spread,” according to the announcement.
The company, founded in 2018, says that unlike a traditional bank or payment card transaction, Flexa payments don’t involve sending any sensitive customer account information through the network. Instead, each Flexa transaction starts and ends with a unique, digital authorization code that can’t be decrypted or reversed. In the U.S. and Canada it is used in more than 41,000 locations, including Barnes & Noble, Express and Lowe’s.
“When this El Salvador regulation got put in place, we actually got approached by merchants and other entities in El Salvador asking for us to set this up for them in a compliant way, because they’re working with our counterparts in the U.S.,” Flexa co-founder Tyler Spalding told CoinDesk in an interview. “So there ended up being a really great opportunity to help merchants, and now banks particularly, to be able to process these sorts of digital payments.
See:Coinbase Amasses $4 Billion in Cash in Event of “Crypto Winter”Find:Best Bitcoin or Crypto Wallets 2021: How To Choose
Some experts don’t believe that so-called fraud proofs are one of the major adoption barriers for the lightning network and that Flexa will not add anything, nor will it spur further adoption.
David Vorick, Skynet Labs Founder and CEO, tells GOBankingRates that “[he doesn’t] think that fraud proofs are one of the major adoption barriers for the lightning network. Onboarding isn’t fun, using isn’t fun, troubleshooting it isn’t fun. If the Lightning Network is going to succeed, it’s not going to be because of fraud proofs but becausesome company comes forward with a greatly simplified user experience that makes transacting fun.”
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This article originally appeared onGOBankingRates.com:El Salvador Adopts Bitcoin Amid Glitches and Security Concerns || Costco Could Enter Intermediate Correction: Costco Wholesale Corp. (COST)reports Q4 2021 earnings after Thursday’s closing bell, with analysts expecting a healthy profit of $3.65 per-share on $61.45 billion in revenue. If met, earnings-per-share (EPS) will mark a 13% profit increase compared to the same quarter last year. The stock sold off more than 2% in June despite beating Q3 top and bottom line estimates, but recovered quickly, carving a series of new highs into September.
The big box retailer picked up substantial market share during 2020 lockdowns and has retained those customers throughout 2021. Monthly sales reports during the quarter have hit the mark, most recently with August adjusted comparative sales growth (excluding gasoline and forex) of 9.1% vs. 8.0% in July. Unadjusted sales grew 14.2% vs. 12.8% in the prior month while Costco booked outstanding net sales of $15.75 billion, 16.2% higher than the $13.56 billion booked in August 2020.
Telsey Advisory Group analyst Joseph Feldman outlined his bullish thesis earlier in the quarter, insisting that Costco “should remain a share gainer, with its solid sales, high membership renewal rates (110 million total members), and square footage growth of LSD. In fiscal year 2022, Costco should continue to generate solid EPS growth, driven by a MSD comp, MSD-HSD membership fee income growth, healthy digital growth, and lapping COVID-19 related costs”.
Wall Street consensus has eased after a 47% six-month advance, with an ‘Overweight’ rating based upon 17 ‘Buy’, 4 ‘Overweight’, 10 ‘Hold’, and 1 ‘Underweight’ recommendation. No analysts are recommending that shareholders close positions. Price targets currently range from a low of $385 to a Street-high $525 while the stock will open Tuesday’s session about $22 below the median $475 target. Short-term upside may be limited, given this mid-range placement and recent share gains.
Costco has been an outstanding performer in the last decade, rising more than 500%. It topped out at 393.15 in November 2020 following a strong uptrend and carved a steep decline into March 2021. A strong bounce reached the prior peak in May, ahead of a June breakout that’s added more than 70 points. However, momentum has waned in recent weeks, setting off a weekly sell cycle that favors an intermediate correction and limited gains well into the fourth quarter.
For a look at all of today’s economic events, check out oureconomic calendar.
Disclosure: the author held no positions in aforementioned securities at the time of publication.
Thisarticlewas originally posted on FX Empire
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• Bitcoin Update: A Revisit of $29,000 Cannot be Excluded Just Yet || On-Chain Analysis: NUPL Analysis of Bitcoin (BTC) & Ethereum (ETH): BeInCrypto –
In this article, BeInCrypto will take a look at on-chain indicators forBitcoin(BTC) andEthereum(ETH), more specificallyNet Unrealized Profit/Loss (NUPL).
The indicator reading for BTC moved above the 0.5 benchmark 11 months ago. The previous two bull markets ended twelve months after NUPL first moved above this level.
What is NUPL?
NUPLis and indicator created by diving unrealized profits with unrealized losses. Simply put, it measures the amount of profit or loss for investors if all coins were sold today.
This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto || El Salvador just bought 400 bitcoin and plans to buy 'a lot more,' a day before making it an official currency: • El Salvador bought 400 bitcoin on Monday and plans to buy "a lot more," President Nayib Bukele said.
• The purchase comes just a day before El Salvador makes bitcoin official currency.
• The bitcoin transition hasn't been so smooth, with Salvadorans protesting, confused by the rollout.
• See more stories on Insider's business page.
El Salvador bought its first 400 bitcoin and plans to soon buy "a lot more," as the country nears the Tuesday deadline to make bitcoin the country's official currency, President Nayib Bukele tweeted on Monday.
"El Salvador has just bought its first 200 coins," Bukele said in aseries of tweetson Monday. "Our brokers will be buying a lot more as the deadline approaches."
Hours later, Bukele said the country bought an additional 200 bitcoin, giving it a total of 400 bitcoin.
The bitcoin purchases, coming just a day before El Salvador's bitcoin law will come into effect, amount to roughly $20 million as ofMonday's price.
It's the first step toward El Salvador's ambitious attempt to make bitcoin legal tender, which is set to draw a lot of attention from cryptocurrency enthusiasts to monetary policy experts around the world - while transforming the daily life for Salvadorans.
In June, El Salvadorpassed a lawthat will make it the first country to establish bitcoin as legal tender alongside the US dollar, the country's current national currency. All entities in the country will now have to accept bitcoin as a payment method for goods and services, and Salvadorans will be able to use the cryptocurrency to pay taxes.
El Salvador is the smallest country in Central America in terms of population, according to the World Bank. Its economy is the 106th out of the 195 countries the International Monetary Fund ranks.
The country's looming bitcoin rollout has not been so smooth. Salvadoranscomplainthey have received little official communication from the government, leaving them in the dark on what the transition will mean for them. Global banks and rating agencies have questioned the decision, saying it could jeopardize the much-needed IMF lending talks, hurtlocal insurers, andeven weaken the bitcoin network.
Last month, protests erupted in the capital city of San Salvador, with people fearing for their pension payouts potentially getting wiped out and money laundering activity increasing in a country wherecorruption is endemic. A poll taken in July found that75% of Salvadorans have reservations about the law.
Still, Bukele seems confident in the country's looming bitcoin adoption. In a Twitterthreadlast month, the 40-year-old president called the opposition "liars" who would be exposed once the law comes into force. He said those worried about their pension or businesses will be able to keep dealing in dollars as usual, since bitcoin use isn't mandatory.
On Monday, Bukele expressed the same level of confidence in hisMonday tweet.
"Tomorrow, for the first time in history, all the eyes of the world will be on El Salvador," Bukele wrote. "#Bitcoin did this."
Read the original article onBusiness Insider
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 64261.99, 65992.84, 62210.17, 60692.27, 61393.62, 60930.84, 63039.82, 60363.79, 58482.39, 60622.14
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2016-08-29]
BTC Price: 574.11, BTC RSI: 40.82
Gold Price: 1322.90, Gold RSI: 43.88
Oil Price: 46.98, Oil RSI: 55.88
[Random Sample of News (last 60 days)]
SolidX Reveals Plan to Launch a Bitcoin ETF: Earlier this week, blockchain technology provider SolidX revealed in a filing with the Securities and Exchange Commission (SEC) that is looking to launch an exchange traded fund based on the digital currency bitcoin. According to the S-1 filing, the trust will issue shares that represent units of ownership in the trust, with SolidX Management LLC acting as the custodian of bitcoin held by the trust. Bank of New York Mellon, in turn, will act as the administrator of the trust and custodian for its cash holdings, reports Pete Rizzo for CoinDesk. Related: Winkdex Bitcoin Index Debuts The filing from SolidX was revealed just days after it was reported that the Winklevoss Bitcoin Trust, the highly anticipated exchange traded fund sponsored by twin brothers Cameron and Tyler Winklevoss, when it comes to market, will trade on the Bats ETF Marketplace. It was previously expected that the Winklevoss Bitcoin Trust would trade on the Nasdaq. Trending on ETF Trends Grab Some Palladium Power With These ETFs A Bright Precious Metals ETF Outlook Investors: Dont Overreact to Bearish Oil Calls Some Analysts See a New Oil Bull Market Cotton ETN Grows on Tightening Inventories Bitcoin is a type of decentralized digital currency based on a peer-to-peer network and can be exchanged through computers internationally without a financial intermediary. The system was first introduced by developer Satoshi Nakamoto in 2009. The SolidX bitcoin offering, assuming it comes to market, will trade on the New York Stock Exchange under the ticker XBTC and will provide bitcoin pricing via the TradeBlock XBX Index. As noted by industry advocacy group Coin Center, a notable difference between the SolidX Bitcoin Trust and the competing Winklevoss Bitcoin Trust is that the former has secured insurance that would cover the loss or theft of bitcoins in the trust, reports CoinDesk. Related: Winklevoss Bitcoin ETF Will List on BATS In February 2014, Winklevoss Capital launched the Winkdex, a bitcoin index that will eventually be used for a planned bitcoin ETF, COIN, which was first proposed in 2013 but is still waiting on regulatory approval. Click here to read the full story on ETF Trends. || Meet the Reddit-like social network that rewards bloggers in bitcoin: In the digital currency world, people love to talk about the “killer app,” a use for the technology that would bring it truly mainstream and compel the people who are dubious about Bitcoin to buy in. Many are still waiting for it, and say bitcoin needs it to succeed in the long run. Ned Scott believes he’s got it. Scott is the cofounder and CEO of Steemit , a social network that runs on a new cryptocurrency called steem. Scott, a former analyst at food-industry private equity firm Gellert Group, and Dan Larimer, founder of BitShares, launched the network and the currency in April. Since that time, its market cap has ballooned from $2,000 to $300 million. The platform is very young, and has its problems, but it shows impressive potential. Steemit works like Reddit, which Scott cites as an overt influence but says he hasn’t used. Steemit users publish a blog post—it could be any length, any topic at all—and other users can “upvote” it. The twist: Every upvote represents a small amount of steem power. Think of steem power as a representation of influence, because the more you have, the more power your upvote has to move someone else’s post up when you upvote it. Steem power can be converted to steem dollars, which at the moment trade for about $3.25 USD each. That’s tiny, sure, but more steem is created from more activity on Steemit, and the $300 million market cap of steem is enough to rank it No. 3 among all cryptocurrencies , according to CoinMarketCap, behind only bitcoin and ether, the currency of the Ethereum network . Steemit’s ‘trending’ forum “It’s internet points, like you have on Reddit, but now those points have real market value,” says Scott. “People are earning money for doing the things they were doing for free before. People spend all this time creating free content for social media companies, and now they can be rewarded.” That sounds pretty good. And indeed, multiple Steemit users say they have cashed out more than $10,000 from posting on Steemit. The site pays you 24 hours after a post; 75% of the steem power goes to the writer, 25% to the curators—that is, those who upvoted the post, in different amounts according to their influence. Steemit made its first cumulative payout on July 4, amounting to $1.3 million USD. Steemit says it has seen more than 700 new signups every day for the past week. Heidi Chakos, a travel blogger, says she paid off her credit card bill this month entirely with money she made on Steemit. The Indiana resident is currently traveling around the world in two-week spurts, and she posts about her adventures; one recent post about Tahiti earned 660 upvotes, or $8,930 in steem power . Chakos previously used a Squarespace blog for her posts, but now posts solely on Steemit. “For others, it all might seem farfetched at first,” she says, “but in my experience, once you explain ceryptocurrency to people, they get exited about it. I think Steemit is going to blow Facebook out of the water.” Story continues At this point, that’s likely a stretch. But as a test, I posted on Steemit. It was nothing special: I wrote that I’m a Yahoo Finance writer and I was exploring Steemit to write a news story about it. My post quickly amassed 61 votes , which translates to $75.04 in steem power. The system cashed that out to me in half steem power, half steem, so I have 37.5 steem dollars in my wallet, which translates to $120. Not bad. If all of that sounds rather complicated, Scott insists that users don’t need to worry about how the system works to use it and make money. It is an argument many have made about the bitcoin blockchain, comparing it to the HTTP technology that powers web pages, or the SMTP protocol that makes e-mail work. “You don’t need a high level of understanding to sign up,” he says. “Digital currency is moving into a stage similar to the automobile: it gets you from point A to point B. People post, they get money, and their lives are better. They don’t need to know the way it works or worry too much about the specifics in order to post, enjoy it, and get rewarded.” The problem is that withdrawing money isn’t such an easy process to learn for a bitcoin layperson: First you must convert your steem dollars to bitcoin, then, if you want fiat currency, convert your bitcoin to US dollars. Chakos says that wasn’t so hard. She used the exchange web site Bittrex to convert steem dollars to bitcoin, then sent that bitcoin from Bittrex to her Coinbase account, then transferred bitcoin from Coinbase to US dollars in her bank account. “It took like 30 minutes,” she says. In addition to the learning curve, Steem suffered a distributed denial-of-service (DDoS) attack earlier this month, resulting in the theft of $85,000 worth of steem. It was, on a much smaller scale, not unlike a hack of the DAO network last month, which runs on the Ethereum blockchain; that theft amounted to $50 million worth of the cryptocurrency ether. Along with security concerns are the usual fears about Ponzi schemes or pump-and-dumps that come with cryptocurrency engines. Steemit has high hopes it will become so ubiquitous it can serve as the de facto content-creation system, even on other platforms as a plug-in, through a steem widget for WordPress (coming soon) and other blogs. “And then bloggers don’t have to change their habits or leave their blog,” he says. The ambition matches what another bitcoin reward company, ChangeTip, wants to do; it calls itself a “love button for the Internet.” The social tool lets you send someone a tip, in bitcoin, for a blog post you enjoyed. But Scott says, “Tipping comes with friction” such as how much to tip, and when it’s appropriate for the writer to accept. Steem, he argues, makes more sense for the internet because, “It’s more like someone’s influence. And the more someone has, the more they can promote their own posts up the blockchain, and the more they can promote other people. It’s something that eventually publishers and brands will want to use to promote their own content.” But is it the “killer app?” — Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Follow him on Twitter at @ readDanwrite . Read more: Why Ethereum is the hottest new thing in digital currency The latest Bitcoin price hike is not all about Brexit British bitcoin market sent incredible signals ahead of Brexit Here’s why 21 Inc. is the most exciting bitcoin company right now View comments || 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) || Why FinTech Could Be a Casualty of Brexit: Aaron Klein is a fellow and policy director at the Initiative on Business and Public Policy at the Brookings Institution.
London's role as Europe's financial services center has been called into question as a result of the UK's decision to leave the European Union - the "City's" future in the world of finance is very much in doubt.
Yes, London will remain a financial services hub, as it has been one for a long time. After all, the UK is still the world's 6thlargest economy. But the size and scope of that hub could be very different depending on how things shake out with Brexit. Frankfurt is a logical landing spot for financial services firms given its secondary role behind London. Amsterdam has a long history in banking. And France's Prime Minister has made clear his country's strategic desire to lure financial services firms to expand theiroperations in Paris, even promising to keep taxes on expats living in France the most favorable in Europe to attract London's finance sector.
Meanwhile, major American firms like JPMorgan , , Merrill Lynch , and , as well as Britain’s Standard Chartered made a pledge to British finance minister George Osborne to try to support London’s financial sector in the wake of Brexit, although details on what this means are not clear.
In order to understand what may happen and where the future of financial services may go, it is important to understand how and why financial services hubs exist.
London was the global financial services hub for a long time; after all, London was the largest city in the world in 1900. As the capital of the British Empire, with a strong rule of law, history of financial services, and the world's reserve currency, London was the natural landing spot for the global financial system. Financial services, particularly for activities like payments and settlements between banks, requires economies of scale, and both legal and physical security. When London was viciously bombed during World War II, large portions of the global payments system were forced to move, choosing New York City as a logical landing place. As the United States emerged as the global economic power with the world's new reserve currency after the war, given the cost of movement, and the reality that its location in New York was working, large portions of the global payment and financial system remained. Recently, New York and London have battled each other for the title of global financial capital (with Singapore and Hong Kong rising over time). Brexit is likely a self-inflicted knock-out punch (or to use a soccer metaphor, an "own goal") that will solidify New York's claim to the title.
London may suffer more as it relates to financial technology (aka FinTech) firms. FinTech is a growth industry with new firms emerging daily to challenge the existing system of how we transmit money (PayPal), use credit cards (Square), get a loan (Lending Club), or even what we think of as money (Bitcoin). Before Brexit, London had many advantages, including a smart regulatory system for FinTech and a strategic desire to attract and grow that part of the industry. Already there are over 60,000 FinTech jobs in the UK — more than in other potential hubs like Hong Kong, Singapore, and Australia combined. A report by E&Y ranked the UK over states like California, cities like New York and countries like Singapore in terms of attractiveness to FinTech, leading the UK's Economic Secretary Harriet Baldwin toconcludethat "We are the global capital for FinTech."
In fact, policymakers in the United States were racing to think through what could be done to match the UK's innovative approach for FinTech. The White House and the Comptroller of the Currency recently held FinTech summits in Washington, which I attended where this exact question was raised. However, that was all BB – Before Brexit.
Today, in a post-Brexit world, if you were a start-up financial services firm, would you locate in London?
Given the uncertainty about access and rules going forward to reach the European Common Market, as well as reaching the United States (recall that the US and UK have no independent free trade agreement), it is hard to justify choosing London over the alternatives. Leaving or locating outside of the UK can be a rational choice even if you are expecting that deals will ultimately be worked out in the UK's favor, just because of the large downside and uncertainty of what would happen in the event that deals cannot be reached to guarantee favorable access. Major European Union members havepublicly statedthat they are opposed to granting the UK financial services access (passporting) without agreements by the UK on freedom of movement, which was a major driver of the vote for Brexit. The risks are just too high if you are a start-up, assuming that alternative environments can be found.
For start-up FinTech firms, however, they may want to change more immediately as they do not have the large, sunk costs of already being London-bound. This is where the biggest impact could be felt longer term, even if established financial firms stop expanding in London and target their growth elsewhere on the continent. London is not going to go the way of Constantinople (the world's largest city in 500 AD). But in a post-Brexit world, growth in financial services, particularly FinTech, where London was poised to thrive, is likely to look elsewhere.
See original article on Fortune.com
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• Theresa May Set to Become U.K. Prime Minister As Last Rival Pulls out
• Britain's Finance Minister Is on Wall Street Asking for Money
• Here's How the Brexit Referendum Is Affecting the U.K. Economy So Far
• Oil Funds Hold Down Risk, Eye Volatility After Weak First Half
• Sterling's Fall Could Batter UK's Fish & Chips || Europe's first regulated bitcoin product launches in Gibraltar: By Jemima Kelly LONDON (Reuters) - Europe's first regulated bitcoin product - an asset-backed exchange-traded instrument that will invest exclusively in the digital currency - begins trading this week on the Gibraltar Stock Exchange and Germany's Deutsche Boerse. The Web-based currency can be used to send money instantly around the world, free of charge and with no need for third-party checks. It is accepted by several major online retailers and is used in more than 200,000 daily transactions. Its value has been highly volatile, peaking at more than$1,200 in late 2013 before crashing after the collapse of the Mt. Gox bitcoin exchange. It has since stabilised somewhat, trading at around $655 on Monday, up more than 50 percent this year. BitcoinETI will be available through regulated brokerages across Europe, and settlement will be handled through Clearstream and Euroclear, the Gibraltar Stock Exchange said, rather than via bitcoin's shared ledger system - the blockchain. In the United States, where regulation of bitcoin and financial technology more broadly tends to be more onerous, twins Cameron and Tyles Winklevoss - entrepreneurs who famously sued Facebook founder Mark Zuckerberg for allegedly stealing their idea - have been waiting for approval for a proposed bitcoin exchange-traded fund for three years. Their proposed Winklevoss Bitcoin Trust would be the first ETF issued by a U.S. entity that invests solely in bitcoin. Another ETF issued by New York-based ARK Investment Management last year became the first ETF to invest in bitcoin, but it also invests in other fintech companies. The new European ETI, issued by Gibraltar-based iStructure PCC and sponsored by one of its subsidies, Revoltura, comes as a result of talks between stakeholders, including the Financial Services Commission - Gibraltar's regulator - and the British Overseas Territory's government. "By listing the ETI on the Gibraltar Stock Exchange, which is an EU-regulated market, we are able to bring a high level of transparency and liquidity to investors," said Revoltura CEO Ransu Salovaara. (Editing by Hugh Lawson) || 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) || 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) || 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.
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
• PayPal’s Braintree is now likely bigger than Square and Stripe combined
• The biggest feature of Apple Pay could be something no one's talking about || Bitfinex says expects 'socialized loss' for $72 million bitcoin hack: By Clare Baldwin HONG KONG (Reuters) - Hong Kong-based crypto-currency exchange Bitfinex, from which hackers stole about US$72 million worth of bitcoin this week, said on Friday that it expected to "socialize" the losses among bitcoin balances. In dollar terms, the theft of the 119,756 bitcoin revealed on Tuesday was the second-biggest security breach ever of a digital currency exchange. The theft accounted for about 0.75 percent of all bitcoins in circulation. "We are still working out the details," Bitfinex said on its website, "however, we are leaning towards a socialized loss scenario among bitcoin balances and active loans to BTCUSD positions." The exchange, which is known for its liquidity in the U.S. dollar/bitcoin currency pair, did not explain what that would entail. It has said previously it would settle accounts at an exchange rate of $604.06, the midpoint of the bid and ask on Aug. 2, 2016 at 18:00:00 UTC. The price of bitcoin plunged more than 23 percent on Tuesday when news of the hack became public, trading as low as $465.28 on the BitStamp platform BTC=BTSP. It was trading at $569.84 on Friday. (Reporting by Clare Baldwin; Editing by Will Waterman) || Direxion Adds News ETFs, Reverse Splits 4 ETFs, Forward Splits 5 ETFs: Direxion, the second-largest issuer of inverse and leveraged exchange traded funds, announced Wednesday it has added two new ETFs to its existing lineup of leveraged and inverse ETFs. The Direxion Daily European Financials Bull 2X Shares (Ticker: EUFL) seeks to achieve 200% of the daily performance of the MSCI Europe Financials Index. Meanwhile, The Direxion Daily Gold Miners Index Bear 1X Shares (Ticker: MELT) seeks to achieve 100% of the inverse of the daily performance of the NYSE Arca Gold Miners Index. Direxion_Daily Sylvia Jablonski, Managing Director at Direxion, said the company had recently seen instability in European markets, with the post-Brexit effect yet to subside as political and economic uncertainties remain. The launch of the European Financials leveraged ETF is timely, as market reaction to the EU situation presents the chance for bullish traders to magnify their short-term perspective, Jablonski said. Our new Gold Miners bear ETF will complement the existing suite of ETFs tracking that space, to give traders another option for taking advantage of short-term opportunities. Direxion Announces Reverse and Forward Share Splits of Nine Leveraged ETFs Direxion also announced it will execute reverse share splits for four of its leveraged exchange-traded funds, as well as forward share splits for another five leveraged ETFs. The total market value of the shares outstanding will not be affected as a result of these splits, except with respect to the redemption of fractional shares, as outlined below. Four Reverse Splits Direxion will execute a 1-for-4 reverse split of the Direxion Daily Natural Gas Related Bear 3X Shares (GASX) . The firm will also execute a 1-for-5 reverse split of the Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 3X Shares (DRIP) , Direxion Daily Gold Miners Index Bear 3X Shares (DUST) and Direxion Daily Junior Gold Miners Index Bear 3X Shares (JDST) . The splits are effective at the open of the market on Aug. 25, 2016. Story continues A summary of the four ETFs undergoing reverse splits is as follows (please note the CUSIP changes, effective Aug. 25, 2016): Direxion_Reverse_Splits As a result of this reverse split, every four or five shares of a Fund will be exchanged for one share as indicated in the table above. Accordingly, the total number of the issued and outstanding shares for the Funds will decrease by the approximate percentage indicated above. In addition, the per share net asset value (NAV) and next days opening market price will be approximately four- or five-times higher for the Funds. Shares of the Funds will begin trading on the NYSE Arca, Inc. (the NYSE Arca) on a split-adjusted basis on Aug. 25, 2016. The next days opening market value of the Funds issued and outstanding shares, and thus a shareholders investment value, will not be affected by the reverse split. Trending on ETF Trends Nasdaq Adds Big Q2 Haul of New ETP Listings, Switches ARK Launches ETF Solely Focused on 3D Printing SolidX Reveals Plan to Launch a Bitcoin ETF A Big Day for ETFs as 5 Sponsors Launch New Products OLearys OShares Seeks Big Additions to its ETF Lineup Five Forward Splits Additionally, Direxion will execute forward splits of the Direxion Daily Brazil Bull 3X Shares (BRZU) , Direxion Daily Real Estate Bull 3X Shares (DRN) , Direxion Daily 20+ Treasury Bull 3X Shares (TMF) , Direxion Daily Gold Miners Index Bull 3X Shares (NUGT) and the Direxion Daily Junior Gold Miners Index Bull 3X Shares (JNUG) . After the close of the markets on Aug. 24, 2016 (the Payable Date), each Fund will affect a split of its issued and outstanding shares as follows: Direxion_Daily_Markets As a result of these share splits, shareholders of each Fund will receive an additional four, five or 10 shares for each share held of the applicable Fund as indicated in the table above. Accordingly, the number of each Funds issued and outstanding shares will increase by the approximate percentage indicated above. All share splits will apply to shareholders of record as of the close of NYSE Arca, Inc. (the NYSE Arca) on Aug. 23, 2016 (the Record Date), payable after the close of the NYSE Arca on the Payable Date. Shares of the Funds will begin trading on the NYSE Arca on a split-adjusted basis on Aug. 25. 2016 (the Ex-Date). Related: Direxions New Bearish Junk Bond ETF to Hedge Market Risks On the Ex-Date, the opening market value of each Funds issued and outstanding shares, and thus a shareholders investment value, will not be affected by the share split. However, the per share net asset value (NAV) and opening market price on the Ex-Date will be approximately one-fourth, one-fifth or one-tenth for the Funds. The tables below illustrate the effect of a hypothetical 4-for-1, 5-for-1 and 10-for-1 split on a shareholders investment. Click here to read the full story on ETF Trends. The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.
[Random Sample of Social Media Buzz (last 60 days)]
#Anoncoin/#ANC price now: $ 0.161269, that's -0.00 % change in 1hour. -0.60 % past day, and -5.07 % in the past week! #Bitcoin is $ 581.13 || 1 KOBO = 0.00000279 BTC
= 0.0016 USD
= 0.5600 NGN
= 0.0215 ZAR
= 0.1620 KES
#Kobocoin 2016-08-19 10:00 pic.twitter.com/PDIl5UsLZ7 || 1 #bitcoin = $10768.00 MXN | $586.17 USD #BitAPeso 1 USD = 18.37MXN http://www.bitapeso.com || What happens to bitcoin and iTunes media after you pass? Think about where you want it go and plan... http://on.mktw.net/2bxh5QS || 1 #bitcoin 1950 TL, 650.933 $, 590.927 €, GBP, 40400.00 RUR, 70002 ¥, CNH, CAD #btc || $643.67 #bitfinex;
$646.75 #itBit;
$644.99 #OKCoin;
$651.09 #GDAX;
$631.00 #btce;
$646.20 #bitstamp;
#bitcoin news: http://bit.ly/1VI6Yse || $653.11 at 17:00 UTC [24h Range: $605.50 - $655.00 Volume: 9125 BTC] || Current price of Bitcoin is $592.00. || #EuroCoin #EUC $ 0.000180 (-0.32 %) 0.00000031 BTC (-0.00 %) || #ChainCoin #CHC $ 0.000181 (0.60 %) 0.00000031 BTC (-0.00 %)
|
Trend: up || Prices: 577.50, 575.47, 572.30, 575.54, 598.21, 608.63, 606.59, 610.44, 614.54, 626.32
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2019-07-16]
BTC Price: 9477.64, BTC RSI: 41.70
Gold Price: 1409.20, Gold RSI: 63.30
Oil Price: 57.62, Oil RSI: 49.11
[Random Sample of News (last 60 days)]
US Memorial Day Weekend Market Analysis: The European stocks moved higher in trading on Monday as the relief from the EU election event and support for auto shares pushed the markets higher. The transition in the EU over the next few months will solidify into a political and social agenda. The EU leadership must acknowledge these future objectives of all parties in order to maintain some level of calm. It is evident that many EU nations are relatively satisfied with the current leadership while others are transitioning into more centrist leadership. The next 4+ years will be full of further transition in the EU. China is another global issue that is relatively unsettled. We’ve been doing some research with regards to China and the potential future political and economic pathways that may become evident in the near-term future. Our biggest concern is that China has been inflating their economic levels for decades and the true scope of the Chinese economy may be much weaker than everyone expects . If our suspicions are correct and China has been inflating economic levels for many years, then the transition to a consumer/services-driven economy may be dramatically over-inflated and the US/China trade issues could be biting much harder than the Chinese want to admit. The “Sell in May and go away” market saying may become absolute truth in 2019. Our expectations are still suggesting that an attempt at new market highs may take place before August 2019, but the current market rotation (lower) is setting up a very strong potential for further downside price action at the moment. Our proprietary Fibonacci price modeling system is suggesting the $7294 level in the NQ is key support. Below this level, the NQ could break much lower and potentially target $6850 or lower. The YM is setting up a similar price pattern with resistance near 25,840. We believe this resistance will push prices lower as we move further into early June. The potential for some type of surprise economic data or Fed/Global market move after this weekend is somewhat higher than expected. There is a lot of shifting taking place throughout the globe and we believe this turbulence will reflect in the US market soon enough. Story continues As of right now, our expectations are that a brief upside price rally will take place over the next 4~7+ days before a continued downside price trend may become evident. Pay attention to the news cycles for key elements that could drive the US stock market lower. We will continue to update you with regards to our proprietary research and expectations. The next 7+ days will likely be nothing but sideways price rotation within a Pennant/Flag formation. Chris Vermeulen TheTechnicalTraders.com This article was originally posted on FX Empire More From FXEMPIRE: GBP/USD Trend Line Break Provides Additional Momentum Dax, Bitcoin And Oil. What Do They Have In Common? AUD/USD Forex Technical Analysis – May 29, 2019 Forecast DASH Technical Analysis – Support Levels in Play –29/05/19 Stocks Break Downward In Afternoon Trading U.S. Dollar Index Futures (DX) Technical Analysis – May 29, 2019 Forecast || Bitcoin Price Dips Back Under $8K as Top Cryptos See Moderate Losses: Saturday, June 8 — most of the top 20cryptocurrenciesare reporting moderate losses on the day by press time, as bitcoin (BTC) falls under the $7,900 mark.
Market visualization courtesy ofCoin360
Bitcoin is down nearly 3% on the day, trading around$7,870at press time, according toCoinMarketCap. Looking at its weekly chart, the coin is down over 8%.
Bitcoin 7-day price chart. Source:CoinMarketCap
As Cointelegraphreportedyesterday, cryptocurrency investment products and research firm CoinShares estimates that 74.1% of bitcoinminingis powered by renewableenergyin its bi-annual mining report.
Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands just under $26 billion. The second-largest altcoin, Ripple’sXRP, has a market cap of $17.3 billion at press time.
CoinMarketCap data shows that ETH has seen its value decrease by about 3.5% over the last 24 hours. At press time, ETH is trading around $244. On the week, the coin has also lost over 8.6% of its value.
Ether 7-day price chart. Source:CoinMarketCap
XRP is down by just over 4% over the last 24 hours and is currently trading at around$0.409. On the week, the coin is down about 5%.
XRP 7-day price chart. Source:CoinMarketCap
Among the top 20 cryptocurrencies, the one reporting the most notable losses is tezos (XTZ), which is down over 8% on the day.
At press time, thetotal market capitalizationof all cryptocurrencies is $251 billion, about 7.2% lower than the value it reported a week ago.
Total market capitalization 7-day chart. Source:CoinMarketCap
Yesterday,news brokethat multiple sources are expectingFacebookto launch the white paper for its bespokecryptocurrencyon June 18.
Today, CointelegraphreportedthatUnited States-basedfinancial research firm Weiss Ratings announced that it has downgraded its rating ofEOS. The firm cited “serious problems” with centralization in the EOS ecosystem.
EOS, ranked 6th largest coin by market cap, is currently trading at $6.29, down over 6% on the day to press time.
• Bitcoin Holds Over $7,800 as US Stock Market Sees Minor Uptrend
• Bitcoin Price Approaches $8,600 as Top Cryptos See Slight Gains
• Bitcoin and Top Altcoins See Losses as US Stock Market Sees Slight Uptrend
• Bitcoin and US Stock Market Both See Minor Losses || Regional Bank ETFs Could Join the Dividend Party: This article was originally published on ETFTrends.com. Recently released results of the Federal Reserve’s Comprehensive Capital Analysis and Review, or CCAR, pave the way for major U.S. banks, such as Bank of America ( BAC ) and JPMorgan Chase & Co. ( JPM ) , among others, to significantly increase share buybacks and dividends. Regional banks are expected to get in on the act, too. The SPDR S&P Regional Banking ETF ( KRE ) , the largest regional bank exchange traded fund, has a dividend yield of just 2.21%, implying plenty of room for dividend growth. “After the Fed gave the big banks the thumbs-up on June 27 on their plans to repurchase shares and pay dividends in the next 12 months as part of its Comprehensive Capital Analysis and Review process, some of the regional banks joined the party as well,” reports Lawrence Strauss for Barron's . A Look Ahead for KRE While the Fed's CCAR program typically looks at the largest domestic banks and U.S. operating units of some large foreign banks, big regional banks are expected to be part of the review next year. “These smaller banks, which each have assets totaling under $250 billion, will be included in the capital-planning reviews every other year starting in 2020,” according to Barron's. Helped by some recent mergers and acquisitions activity and improved sentiment toward the broader financial services sector, KRE and friends are rebounding this year and some analysts think that trend can continue. KRE and rival regional bank ETFs are soaring even as speculation swirls the Fed could lower interest rates this year. Rising interest rates historically benefit regional banks, but that has not been the case this year. Higher interest rates would help widen the difference between what banks charge on loans and pay on deposits, which would boost earnings for the financial sector. Regional banks are among the stocks most positively correlated to rising interest rates because higher rates improve net interest margins. Story continues The $2.22 billion KRE holds 123 stocks, but the fund is an equal-weight ETF and none of its holdings exceed weights of 2.40%. For more information on the financial sector, visit our financial 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 Markets Rally On Anticipated Rate Cuts And Holiday Facebook Libra: Weighing The Pros And Cons As Bitcoin Surges Past $13K, Calls to Embrace Crypto Grow GLDM Marks One Year Anniversary Today, Leads Gold-Backed ETF Flows ROBO Global Healthcare Technology ETF Debuts on NYSE READ MORE AT ETFTRENDS.COM > || Bitcoin Extends Modest Recovery as Most Cryptos Drop: Investing.com - Bitcoin extended gains on Thursday in a brief recovery from a recent rout. With no relevant news affecting prices, bearish sentiment in the largest digital asset was on hold as cryptocurrencies overall continued their correction. Bitcoin gained 0.3% to $7,701.5 on the Investing.com Index as of 11:18 AM ET (15:18 GMT). The prior session saw the beginning of a modest recovery after a more than 10% correction from the 2019 high of $9,045.9 reached a week ago. Although individual rivals sawed mixed moves, cryptocurrencies renewed their correction. Beginning the week with a total market cap of $276.88 billion, cryptocurrencies saw their market cap drop $11.77 billion through Tuesday. A brief recovery on Wednesday to $250.31 billion was short lived with total market cap down to $246.25 billion at the time of writing on Thursday. The overall decline came despite gains in other of Bitcoins major rivals. XRP rose 1.0% to $0.39669, Ethereum advanced 0.9% to $243.03, while Litecoin traded up 1.2% to $102.848. In recent crypto-currency news Facebook (NASDAQ:FB) will announce a coin-related project sometime this month, CNBC reported on Wednesday. The Financial Times reported last week that the U.S. Commodity Futures Trading Commission is in talks with the company about the project. The CFTC itself received a new chairman on Wednesday. Heath Tarbart, former Acting Under Secretary for International Affairs and member of the Financial Stability Board, was confirmed by the Senate to replace J. Christopher Giancarlo. The switch will take place next month as Tarbart wraps up his responsibilities at the U.S. Treasury Department. Related Articles Crypto Market Outlook Downgraded to Uncertain in New SFOX Volatility Report 3 Top Executives Depart Online Lending Fintech Startup SoFi Exclusive: Microsoft Registers Blockchain and AI Platform for Agriculture in Brazil || EOS Falls 12% In Bearish Trade: Investing.com - EOS was trading at $3.8687 by 12:19 (16:19 GMT) on the Investing.com Index on Tuesday, down 12.45% on the day. It was the largest one-day percentage loss since July 14.
The move downwards pushed EOS's market cap down to $3.7553B, or 1.37% of the total cryptocurrency market cap. At its highest, EOS's market cap was $17.5290B.
EOS had traded in a range of $3.8500 to $4.3554 in the previous twenty-four hours.
Over the past seven days, EOS has seen a drop in value, as it lost 31.38%. The volume of EOS traded in the twenty-four hours to time of writing was $1.8707B or 2.71% of the total volume of all cryptocurrencies. It has traded in a range of $3.8500 to $5.9128 in the past 7 days.
At its current price, EOS is still down 83.16% from its all-time high of $22.98 set on April 29, 2018.
Bitcoin was last at $9,952.2 on the Investing.com Index, down 6.46% on the day.
Ethereum was trading at $208.80 on the Investing.com Index, a loss of 10.28%.
Bitcoin's market cap was last at $181.9944B or 66.60% of the total cryptocurrency market cap, while Ethereum's market cap totaled $22.9261B or 8.39% of the total cryptocurrency market value.
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Cardano Falls 10% In Bearish Trade || John McAfee Defends Bitcoin From Donald Trump in Ironic Tirade: Cybersecurity pioneer and all-round renegade John McAfee has slammed Trump for his anti-bitcoin views. | Source: AP/AFP; Edited by CCN In the wake of Donald Trumps viral tweet denouncing bitcoin and cryptocurrency in general, John McAfee has come rushing to its aid. In a series of tweets, the crypto evangelist has ridiculed the U.S. presidents comments regarding the use of digital currency to facilitate criminal activity. My response to Donald Trump regarding his "Dislike of Cryptocurrency" tweet. pic.twitter.com/TkaPPqULQC John McAfee (@officialmcafee) July 12, 2019 Irony in McAfee's Bitcoin Defense While McAfee is making valid points here, there is a significant elephant in the room. Namely, that the cybersecurity guru is quite open about flaunting U.S. law, as he currently claims to be on the run from the IRS . McAfee also admits to purchasing drugs and has solicited other illicit services through the medium of bitcoin and cryptocurrency. Crypto facilitates unlawful activities like the drug trade??? I thought the current $200 billion drug trade was priced in U.S. dollars and paid for by same?? I'm going to feel so foolish on discovering the actual currency for purchasung drugs is bananas or Soy Milk. https://t.co/eMhJRvNGbd John McAfee (@officialmcafee) July 12, 2019 If Donald Trump and John McAfee are ever standing across from one another in a political debate, this irony would be the very first argument that Trump would make. Cryptocurrency Has an Image Problem Many in the cryptocurrency community have long struggled with John McAfees penchant for controversy. If you are the Winklevoss twins looking for mainstream regulatory approval for your beloved bitcoin, JMac is a problem. Its hard to counter bitcoins perception as a scam amongst the old guard when one of the most prominent figures is living in exile in Cuba. Read the full story on CCN.com . || Tippin Enters Version 1.0, Promising New Feature: Lightning Network appTippin.mehas released a version 1.0 update, which includes a host of new features and promotional measures intended to increase the user base and improve the user experience.
Originallylaunchedin December 2018, Tippin was introduced as a novel way to use the Lightning Network to make micropayments easily accessible for a wide range of users by allowing them to send and receive tips over the Lightning Network on Twitter. Originally a custodial wallet solution, the app is particularly noteworthy in that it is the work of one developer, Sergio Abril.
Within the first several months of the app’s launch, Tippin quickly rose to relative prominence in the crypto space. By March 2019, Tippin beganaccruingroughly 200 users daily, with a total user base of around 14,000, and even got ashoutout from Twitter co-founder Jack Dorsey.
On May 23, 2019, Tippin’s official Twitter accountannouncedthe release of version 1.0, officially leaving the app’s beta stage of development. The update includes a variety of quality-of-life features that allow users to perform more actions directly through their profiles. Now, users can check balances from the extension, tip directly from their balances, attach messages to transactions and top up their accounts by sending bitcoin from an on-chain wallet.
The announcement claims that “now it’s even easier to tip people” and is offering an added bonus of 1,000 satoshis to new users who sign up within a limited time. Veteran users who refer new users to the platform will also receive 500 satoshis for each new customer they attract.
This article originally appeared onBitcoin Magazine. || BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, XLM, ADA: Price Analysis 17/06: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Market data is provided by theHitBTCexchange.
In the previous bull market, there was hardly any institutional involvement. Barring a few die-hard crypto enthusiasts, who were ‘hodlers,’ the rest of the traders were novices who wanted to jump on the get-rich-quick bandwagon. However, retail traders are easily influenced by a change in sentiment. Hence, the market overshot both on the way up and on the way down during the bear market.
A report by Nikolaos Panigirtzoglou, managing director of global market strategy atJPMorgan Chase, points to increased institutional interest in cryptocurrencies. The ratio of Bitcoin futures trading to actual volume of Bitcoin trading indicates thatinstitutionalinvestors are showing genuine interest. The volume of futures trading might increase further after the launch of theBakktplatform.
United Kingdom-based interdealer broker TP ICAP now allows its clients to trade in Bitcoin futures offered by theChicago Mercantile Exchange. Duncan Trenholme, TP ICAP head of digital asset market, believes that thenewtechnology “could disrupt or impact other asset classes,” hence, they “want to be close to the developments.”
Bitcoin (BTC) is in an uptrend. It broke out of $9,053.12 on June 17, which invalidated the developing head and shoulders (H&S) pattern highlighted in ourearlieranalysis. The failure of a bearish setup is a bullish sign because it forces traders who have sold short in anticipation of a fall to cover their positions, resulting in a short squeeze.
TheBTC/USDpair is currently rising inside an ascending channel and both the moving averages are trending up. The RSI has also climbed close to the overbought zone. This shows that bulls are firmly in command. The next target to watch on the upside is the psychological resistance of $10,000.
We anticipate the pair to enter a minor correction or a consolidation around $10,000. However, the rally has surprised to the upside and if the momentum remains intact, the bulls might push the price above $10,000 and towards $12,000.
The first sign of weakness will be a close (UTC time frame) below the support line of the channel. A breakdown of $7,413.46 will indicate a change in trend.
Senior market analyst Mati Greenspan discusses Bitcoin’s recent rally. Source:Cointelegraph
Ethereum (ETH) is currently range-bound. It has been trading close to the resistance of the $225.39–$280 range for the past two days. A consolidation near the top indicates strength and increases the possibility of a breakout. Both the moving averages are sloping up and the RSI is in the positive zone. This suggests that the path of least resistance is to the upside.
On a breakout and close (UTC time frame) above $280, theETH/USDpair can rally to $322.06 and above it to $335. We expect some profit booking around these levels.
However, contrary to our assumption, if the pair turns down from the current levels and plummets below the 20-day EMA, it can drop to $225.39. A breakdown from this level will turn the trend in favor of the bears.
Ripple (XRP) is currently trading inside a symmetrical triangle. The next move will start either on a breakout or a breakdown from the triangle. After failing to break down of the triangle, the price has risen close to the resistance line of the triangle. The horizontal zone of $0.45 to $0.47919 might act as a resistance. Nonetheless, with both the moving averages sloping up and the RSI in positive territory, the bulls have the upper hand.
A breakout of the triangle has a target objective of $0.57259, above which the rally can extend to $0.6250. Conversely, if theXRP/USDpair turns down from the resistance line of the triangle, it can again slump to the trendline of the triangle. A breakdown of this level will indicate weakness. The trend will turn bearish on a breakdown of $0.35660. Traders can trail the stop loss on thelongposition to $0.37.
Litecoin (LTC) is an uptrend. Though the bulls have managed to sustain the breakout above the ascending channel, they are struggling to push the price above the overhead resistance of $140.3450. Nevertheless, both the moving averages are sloping up and the RSI is close to the overbought zone, which shows that bulls have the upper hand.
A breakout and close above $140.3450 will propel theLTC/USDpair towards $158.91 and if that level is also crossed, the next target is $184.7940. However, as the price moves up, the probability of a sharp correction increases. Therefore, traders can trail the remaininglongposition with the stop loss just below the 20-day EMA.
If the price breaks down of the 20-day EMA, it can dip to the next support at the 50-day SMA. The trend will turn negative on a fall below the support line of the ascending channel.
Bitcoin Cash (BCH) is in a weak uptrend. The 20-day EMA has started to turn up once again and the 50-day SMA is sloping up, which suggests that the bulls have a minor advantage in the short term. Above $450, the bulls will try to retest the recent highs of $481.99 and if this level is crossed, a move to the resistance line of the channel is likely.
On the other hand, if the rally falters at either one of the overhead resistance levels, theBCH/USDpair might correct to the 20-day SMA and below it to the 50-day SMA. The critical level to watch on the downside is $360 and below it the support line of the channel. If this zone breaks down, the pair can correct to $280.
The tight consolidation inEOSresolved to the upside. On June 15, the price closed (UTC time frame) above the overhead resistance of $6.8299 and triggered our buy suggested in anearlieranalysis.
The next target on the upside is a rally to the resistance line of the ascending channel and if that level is crossed, a retest of the recent highs at $8.6503. The 20-day EMA has started to turn up gradually and the RSI has inched back into the positive zone. This suggests a minor advantage to the bulls.
However, if theEOS/USDpair fails to sustain above $6.8299, it will indicate profit booking at higher levels. A breakdown of the moving averages and the support line of the channel will indicate a deeper fall towards $4.4930. Therefore, traders can protect their long positions with the stop loss of $5.80.
Though the long-term trend in Binance Coin (BNB) is bullish, the short-term trend is shifting to a range between $28 and $38.6463356. A consolidation after such a sharp up-move is a positive sign.
If theBNB/USDpair breaks out of the overhead resistance at $38.6463356, the uptrend will resume. The next target to watch on the upside is $46.1645899. On the contrary, if the bears sink the price below the support at $28, a deeper correction is likely. Therefore, traders can maintain the stop loss on thelongposition at $28.
The bulls are attempting to resume the uptrend in Bitcoin SV (BSV). If the price breaks out of the overhead resistance at $237.390, a retest of the recent highs at $254 is probable. Both the moving averages are trending up and the RSI is in positive territory. This suggests that the bulls are in command.
A breakout of $254 has a target objective of $307.789 and above it $340.248. Contrary to our assumption, if the bulls fail to break out of $254, theBSV/USDpair might remain range bound for a few days. The pair will turn negative on a breakdown of the 38.2% Fibonacci retracement level of the recent rally.
Stellar (XLM) has held above the overhead resistance of $0.11507853. However, it is struggling to rebound above the downtrend line of the descending triangle. The moving averages are flat and the RSI is just above 50, which suggests balance between the bulls and the bears.
If the bulls push the price above the downtrend line of the triangle, theXLM/USDpair can rally to the overhead resistance of $0.14861760. A breakout of this resistance will complete an inverse H&S pattern that has a target objective of $0.22466773. Traders can wait for a close (UTC time frame) above $0.14861760 before initiating long positions. The stop loss for the trade can be kept at $0.1120.
Our bullish view will be negated if the price turns down from the overhead resistance and slips below the support at $0.11507853.
Cardano (ADA) has been forming a doji candlestick pattern in the past three days, which shows indecision among the bulls and the bears. The price is stuck between the 20-day EMA and $0.10. Both the moving averages have started to turn up once again and the RSI is just above 50. This suggests that the bulls have a slight advantage.
If the bulls push the price above $0.10, the rounding bottom pattern will complete that can carry theADA/USDpair towards its target objective of $0.22466773. Hence, we have retained the buy recommendation given in thepreviousanalysis. Contrary to our expectation, if the pair plummets below the moving averages, it will turn negative and can dip to $0.057898.
Market data is provided by theHitBTCexchange. Charts for analysis are provided byTradingView.
• BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, XLM, ADA: Price Analysis 12/06
• BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, XLM, ADA: Price Analysis 14/06
• BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, XLM, ADA: Price Analysis 10/06
• BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, TRX: Price Analysis 05/06 || Cash, Coins and Casinos: Japan Struggles to Regulate Online Gambling: Despite Japan ’s reputation for being one of the most welcoming nations for fintech , online crypto gambling has struggled to take off in light of the country’s strict regulation . In late March, the blockchain-based, decentralized application (DApp) platform Tron announced that it would block gambling DApps in Japan, bringing the issue of regulating crypto gambling back to public attention. Cointelegraph takes a look at the legal and cultural approaches to gambling in Japan, along with how developers believe attempts to halt crypto gambling can only last so long. Tron complies with Japanese legislation On March 31, Tron announced in a press release that it would remove gambling DApps in Japan in order to comply with local regulation. The press release laid bare the firm’s intention to comply with local laws and regulation worldwide. With special mention of Japan, the company said that it does not “encourage or recommend any gambling DApps regarding the Japanese market.” Additionally, Tron suggested that Japanese developers should not attempt to develop any gambling DApps on its platform and for developers to actively block users that are found to have Japanese IP addresses. Gambling is generally prohibited by the Japanese criminal code, aside from a few regulated, government-approved sectors — such as horse, boat, bicycle and automobile racing. The company also stated its readiness to work with Japanese law enforcement in the event that any Tron DApps are found to have violated Japanese laws or regulations. The question of Tron’s commitment to decentralization reared its head once again on May 10, as Lucien Chen, former chief technical officer and co-founder of the company, announced his decision to leave the project, citing excessive centralization among his reasons. Although the former CTO noted his pride in a now-deleted Medium post what the project had achieved so far, Chen said that the project is no longer true to its original mission of decentralizing the web: Story continues “The reason for leaving is very simple. As a technical man, I feel very sad that the TRON has departed from the faith of ‘decentralize the web.’” Along with stating his belief that real internet applications cannot currently function in the Tron network, Chen also highlighted his concerns with Tron’s delegated proof-of-stake (DPoS), as well as Super Representative governance and block production nodes: “The DPOS mechanism of Tron is pseudo-decentralized. The top 27 SR nodes (block nodes) have more than 170 million TRX votes, and most of them are controlled by Tron. It’s hard for other latecomers to become block nodes, so they cannot participate in the process of block production.” Chen will now focus on the launch of his own decentralized blockchain project — dubbed Volume Network — designed to adhere to his ideological principles concerning blockchain and mining practices. Existing hurdles for blockchain and crypto in Japan Japan is famously one of the most bullish countries worldwide with regard to both crypto and blockchain, with cryptocurrencies legally considered a means of payment. While the country has a relatively open approach to crypto, some issues do still remain that could possibly hold back more widespread adoption, concerning both gambling and payments. The first is that Japan has a long-established love affair with cash. According to Nikkei research, roughly 65% of transactions are still carried out via cash, a rate almost double that of other economically developed nations. Japan loves its cash Another impediment to progress is the high rate of taxation currently imposed on cryptocurrencies in the country. According to research by Cointelegraph Japan , income gained from trading cryptocurrencies currently stands at a tax rate of 55%, although there are attempts underway to lobby the government to lower this to 20%. Profits from crypto trading are currently classified as “miscellaneous income” in Japan, meaning that traders pay between 15% and 55% capital gains tax on top of their annual tax return. The highest bracket of tax generally applies to high earners, or those earning more than 40 million yen ($365,000) per year. Gambling, cultural attitudes and the law in Japan In July 2018, Japanese lawmakers passed a controversial bill legalizing gambling resorts after a legal struggle spanning nearly two decades. The new legislation divided politicians and citizens alike, with a Nikkei poll indicating that 53% of the population did not support the bill. Japan has an increasingly complex relationship with gambling. While the available gambling outlets enjoy a steady stream of customers, the industry is strictly regulated, and revenue is largely used in order to increase the revenues of the government. Despite the illegality of nonregulated gambling, hugely popular slot machines — known as “pachinko” — are being installed in shops across the country and operate in an increasingly prominent legal grey area. Pachinko Players Satoshi Ashibe, operator of the online sports betting service Jukebucks.com, gave his private view about the many faces of gambling in Japan and attempts to regulate it: “The former Horse Racing Law came into force in 1923, and horse racing was legalized. And after the Pacific War, Keirin, boat racing and auto racing 3 races were approved as legalized gambling in order to use the profit for economic reconstruction. Gambling officially licenced in Japan is the only of these four games. “There are pachinko shops and slot machine shops in rural towns with a population of few thousands, but these games are not gambling ‘legally.’ The police are responsible for the game, and many former police officials work as executives at industry groups. The pachinko industry is the police's right-of-interest industry, for which ‘illegal’ games are silently accepted.” While it is clear that, in the eyes of the government, only a select few sports are available to be bet upon, other sports enjoy an illegal, underground following: “Illegal gambling is also popular in the underground. There are unofficial casinos where you can play baccarat or poker in downtown Tokyo and Osaka. Sports betting for baseball and sumo wrestling is also popular. It is the yakuza that manages these illegal gamblings, but many of the players are general citizens.” Throughout the decades-long attempt to allow the development of casinos and other gambling institutions in Japan, critics have been keen to highlight the need for anti-addiction measures. Methods include an infrastructure consisting of gamblers, families and doctors to monitor addiction, and the installation of facial recognition software to restrict addicts’ ability to access facilities in gambling establishments. The spread of gambling addiction as exposure to the industry grows has also had an effect on families. Ray Nault, an academic at Beacon College in Leesberg, Florida, whose career spent working with numerous Japanese universities and the Ministry of Industry and Technology spans several decades, explained that gambling still remains a taboo: “As with most social ills, the gambling issue is largely masked by taboo. The taboo is related to the familial and social contagion that arises when there is an ‘ill’ member. Families do not speak of gambling addictions, since this is a burden that is to be carried alone, and neighbors and, for example, employers, would never be cognizant of an individual who is caught in the throes of gambling. This means that the family will not actively seek help. In an odd mirroring of this, the relevant department at City Hall also will not ‘advertise’ or openly acknowledge that such help is available in the form of counselling, for example. “This means that there is also a municipal shielding that occurs, where a family member would have to go in and directly inquire about help. There is the added pressure of loan sharks, who feed on gambling debt, which further isolates the particular families who have someone who gambles excessively. The cultural attitude towards gambling is that it is the fault of the weak individual, and that the consequences are just punishment for such weakness.” However prevalent the actuality of gambling in Japan may seem, support for the industry is by no means universal. Hesitancy and outright criticism of the industry is present in both the government and public opinion. In light of Tron’s statement of compliance, it appears that the Japanese government is determined to keep a firm grip over legal methods of gambling within its borders. However, it is important to note that, as technology develops and decentralization processes become more widespread, how exactly governments aim to regulate something designed to be free from the constraints of any one government or central authority remains to be seen. What’s next for crypto gambling in Japan? Despite the apparent attempts from the government to show a tough stance toward gambling and a desire to develop the industry on its own terms, innovators within the industry still remain cautiously optimistic that both crypto and blockchain gambling are compatible with the new era. European football and American sports such as the NBA now have a dedicated following in Japan. Both sports have a significant betting culture attached to them and this, in turn, has spread to Japan, with most gamblers using online betting services. As Ashibe explained, users face issues common to all international transactions in fiat currencies — i.e., remittances, regulation and commissions: “The biggest problem when Japanese people play with overseas online gambling companies is the complicatedness of payment and withdrawal. Remittances by banks are strictly regulated, and withdrawals using payment services such as ecopayz are cumbersome.” Ashibe also explained how he views cryptocurrency as the most obvious way of bridging the gap between international demand and a seamless service: “I think gambling and blockchain/cryptocurrency are very compatible. Cryptocurrency is the best way to solve these deposit and withdrawal problems and financial regulations. Certainly, buying a cryptocurrency is very troublesome at the moment. You can open an account on the exchange, deposit money from a bank, place an order on the chart, and finally get BTC or ETH, or turn them into Japanese yen. There is also the problem of very high tax rates. However, in the next few years, legal development will progress, and there will be a way to easily exchange Japanese yen for a cryptocurrency without going through such a procedure.” According to Ashibe, one government officer expressed his personal view to him that it was only a matter of time before online sports betting would be legalized in the country, considering it “essential to export sports content such as soccer and basketball in Japan to global content that can be enjoyed by people overseas.” This statement appears to be in line with the government’s “ Japan Revitalization Strategy 2016 ,” which aims to boost the sports industry’s market size from 5.5 trillion yen (roughly $50 billion) up to 15 trillion yen (nearly $137 billion) in 2025. Although it appears that the government is prepared to crack down on illegal gambling that takes place physically within the country’s borders, Ashibe said that the attempts to effectively regulate and prevent online, decentralized gambling are much less effective: “Although Japanese law prohibits the operation of online casinos, it is not expressly prohibited that citizens play in online casinos based overseas. To be precise, no player has been arrested. There have been cases in which illegal casino or sports betting customers managed by Yakuza have been arrested. There are still few Japanese players betting on online gaming, which means that they have been silently accepted. “Regulations on online gaming are different in each country, but online gaming industry will grow around the world by taking those restrictions one step ahead. That growth can only be achieved with the Internet and cryptocurrency. However, the online gaming industry is quietly growing outside the Japanese FSA and police regulations. I believe it is a matter of time to grow to a market size that regulators can not ignore. I do not know what kind of reaction the Japanese regulatory authorities will show when that happens.” In light of the growing global demand for sports betting without the restrictions and costs that come with the current fiat-based infrastructure, the prospects for crypto gambling and decentralized applications could be positive using the opportunities given by the Internet and cryptocurrency. Related Articles: Honda And GM to Research Smart Grid, Electric Car Interoperability With Blockchain Tech Opera Web Browser Crypto Wallet Launches Support for Tron, TRC-Standard Tokens Tron Co-Founder and CTO Leaves Project, Alleging Excessive Centralization Germany Plans Major Digital Token Regulation Effort in 2019, Says Source || How blockchain technology is being used in Russia: The term ‘blockchain’ first appeared as the name of a fully replicated distributed database implemented in the Bitcoin network. Blockchain technology makes it necessary to take a fresh look at how we exchange documents and money. It removes intermediaries and allows users to directly send each other important data. Blockchain is often compared to a standard diary or card file, where successive entries are made in chronological order. No stranger can make changes to this diary as all information is encrypted. However, if there was only one copy of the diary, anything could happen to it. Therefore, for reliability, a blockchain has many copies that are stored in different places all over the world. Moreover, when new information is entered, it is updated on all copies after verification. Some are already calling it one of the biggest breakthroughs of the 21st century, while others look on cautiously. Russian companies and the country’s government are looking to take advantage of this fantastic technology. Russia is already looking to implement blockchain technology in a few sectors, such as: education financial operations real estate transactions insurance logistics traffic violations registration of marriages Russian projects based on blockchain technology Blockchain passport Russia is currently working on developing a “blockchain passport” for students which will accumulate all information over a child’s first 11 years of study, including assessments, achievements, participation in competitions, vocational guidance testing, and more. The Minister of Economic Development of the Russian Federation, Maxim Oreshkin, believes that this will make it possible to completely abandon the Unified State Exam (USE). The main goal of this initiative is to have impartial artificial intelligence distribute graduates to universities without any exams rather than being dependent on USE points. Russia will include blockchain technology in main university exam this year By Oliver Knight – June 20, 2019 The Sberbank blockchain laboratory The biggest bank in Russia, Sberbank, recently announced that it had opened a blockchain laboratory. This laboratory will explore the latest technologies in the blockchain field, form and propose ideas for developing solutions based on the tech, create product prototypes, conduct pilot projects, and implement applied business solutions for Sberbank. Story continues The laboratory will also cooperate with other market participants, support start-ups, and conduct informational and educational activities to popularise blockchain technology. Sberbank believes that blockchain is a tool for increasing the efficiency of interaction between market participants and is aiming to contribute to the future of the banking industry and the country. Blockchain in Russian retail businesses A number of companies in Russia have now started implementing blockchain into their operations. Trading company M.Video – in partnership with Alfa-Bank and Sberbank – has launched a blockchain platform based on Ethereum which aims to expand the possibilities of counterparty interaction by forming a “blockchain consortium”. S7 Airlines is also using smart contract technology to automate ticket sales for flights, while Vnesheconombank – together with NITU (National Research Technological University) – has established a specialised center where users learn how to work with blockchain technology. Megafon has also issued securities that are bought and sold on the blockchain. The platform was created and launched by the National Settlement Depository and is based on Ethereum. It helps to ensure anonymity and compliance with the regulations governing the securities market. Russian payment service provider QIWI also attempted to create a new national cryptocurrency called the Bitruble. The attempt failed for two reasons: The Central Bank of Russia initially supported the project, but later changed its mind due to the negative attitude of the government to virtual money and the possibility of it being used by fraudsters The Ministry of Finance proposed to establish criminal penalties for issuing cryptocurrencies and conducting operations with them The company is now working on projects such as SKYFchain (an unmanned transportation project) and Masterchain, which is positioned as a national network that takes into account Russian legislation and cryptography. Other projects based on the blockchain There are a number of other blockchain projects in the pipeline in Russia, including: The Ministry of Health has focused its efforts on creating a blockchain platform to store medical records. Patients will be able to determine for themselves who gets access to their health data. The government is also looking at the possibility of a blockchain platform for the housing market. The advantage of the project is to increase confidence in the interaction of realtors, banks, owners, and buyers. Another blockchain platform is being developed to store information about the education and work experience of Russian citizens to aid employers. Universities may start adding video lectures and documentation on the blockchain. MGIMO has also started training blockchain lawyers on the assumption the technology will become more prevalent in the future. The Moscow City Duma is currently working on the possibility of digital city management. The idea is supposed to unite health care and housing. Cloud technologies and blockchain will help improve the transparency and security of the real estate market. Conclusion Ideas for the use of blockchain technology in Russia do not always reach the stage of creation. This is due to the lack of financial and human resources. Despite this, many innovative solutions are being developed or planned for implementation in Russia. Russia is confident that the introduction of blockchain technology will provide support for small and medium-sized enterprises, and will therefore increase the efficiency of economic sectors. Discover how public blockchain technology works by reading our latest article: How does public blockchain technology work? By Pedro Febrero – June 20, 2019 The post How blockchain technology is being used in Russia appeared first on Coin Rivet .
[Random Sample of Social Media Buzz (last 60 days)]
$EPAZ's Bitcoin Sharing & Blockchain Social Media App Webbeeo Is In Alpha Testing Phase https://www.owltmarket || No Bitcoin Regulation Talk in India’s Union Budget 2019; Good News? https://t.co/qqmAMB5miG || تواتر اخبار حلو
وال bitcoin اليوم يكسر حاجز ١٢ الف
من قبل سنة ماكسره ترقبوااا
#اقتصاد https://t.co/66KjVjfoQs || $EPAZ's Bitcoin Sharing & Blockchain Social Media App Webbeeo Is In Alpha Testing Phase https://www.owltmarket || @knutsvanholm Most ppl don’t need to get it. They are broke. They will get it when they get paid. Bitcoin is not some social media website. It’s money. || @ABCC_Exchange 1.Beta Version
2.MBN & BTC
3.Ethereum Block chain
0x78A517c5Db9a324A8a429EDF70D3362Cb326968C || El Supremo dictamina que el bitcoin no es dinero y si se roba no se puede restituir https://t.co/XvFJzZDtDK || All Eyes Are on $8,200 as Bitcoin Continues Consolidating in Lower $8,000 Region https://t.co/kL1brbyBHT || Facebook Globalcoin: Killer or Multiplier? - Bitcoin News https://t.co/C9RuVxtrbY || $EPAZ's Bitcoin Sharing & Blockchain Social Media App Webbeeo Is In Alpha Testing Phase https://www.owltmarket
|
Trend: up || Prices: 9693.80, 10666.48, 10530.73, 10767.14, 10599.11, 10343.11, 9900.77, 9811.93, 9911.84, 9870.30
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2015-11-19]
BTC Price: 326.15, BTC RSI: 49.26
Gold Price: 1078.00, Gold RSI: 31.46
Oil Price: 40.54, Oil RSI: 35.09
[Random Sample of News (last 60 days)]
Bitcoin is back, JPMorgan and Wells Fargo restrict data: U.S. stocks ( ^GSPC , ^DJI , ^IXIC ) are lower for the second straight day. Is the autumn rally at risk here? Either way the next big catalyst for the market could come as early as 8:30am ET Friday when the October jobs report is released. Get the Latest Market Data and News with the Yahoo Finance App In the meantime, here are some other stories Yahoo Finance is keeping an eye on today. Big banks vs. personal finance websites JPMorgan ( JPM ) and Wells Fargo ( WFC ) seem to be restricting some customer data from flowing to third party websites and apps like Mint.com . The products are used by many to help track their finances. JPMorgan chief Jamie Dimon has made his concerns known, pointing out that these products require customers to hand over a lot of personal information. Bitcoin is making a comeback Bitcoin is making a comeback. The price of the digital currency has surged more than 50% this week, partly fueled by the EU's classification of bitcoin as a currency and not a commodity. Can it avoid another big sell-off? Turning point for streaming music Adele's new single "Hello" has already brought in record sales, with over a million downloads. Now the big question is whether she will release her full album on streaming platforms. With the scheduled debut of her album "25" in two weeks, services including Apple Music ( AAPL ) and Spotify are still waiting to find out if they can play the rest of her new songs. || 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 || Overstock.com is hoarding more than $10 million in gold and silver just in case the banking system collapses: Overstock Headquarters (Peter Komensky) Overstock headquarters Overstock.com is prepared for the worst, with a stockpile of precious metals in a secure location in Utah. The company has enough food, cash, and digital currencies stored up to survive a disaster scenario that would doom the average online retailer, CEO Patrick Byrne told Buzzfeed News . “I want a system that can survive a three month freeze,” says Byrne. “If the whole thing collapses I want our system to continue paying people, we want to be able to survive a shutdown of the banking system.” That means hiding away $6 million worth of gold and $4.3 million of silver in denominations small enough for payroll an undisclosed “safe space” in Utah, plus a 30 day supply of food. Byrne said he thinks of the stockpile as a sort of insurance policy for the company, with a 5% chance of paying off. He pointed to the 1930s banking freeze and the 2008 financial crisis as evidence of the necessity of preparation. Buzzfeed reports that the hoarding is rooted in Byrne’s distrust for most major institutions, including banks. Patrick Byrne, Overstock (AP Photo/George Frey) This distrust has helped prompt Overstock.com to accept Bitcoin last year, making it the first major online retailer to do so. In 2013, Byrne told Business Insider that he believed fiat currency, such as the US dollar, to be fundamentally flawed as it is prone to inflation and manipulation. Meanwhile, Bitcoin, like the stockpiled gold and silver, is a fixed supply and therefore immune. Byrne has made headlines in the past for some confounding behavior, including calling billionaire Steven Cohen a “Sith Lord” in a full-page Wall Street Journal ad (Cohen reportedly manipulated Overstock stock as founder of hedge fund SAC Capital Advisors) and attempting to board a plane with a loaded Glock (he denied knowing the gun was in his bag). NOW WATCH: US governors want to stop the relocation of Syrian refugees to the US More From Business Insider A sweatsuit from a once-popular glam brand is so out of style it's going in a museum 7 of the most outrageous outfits from the Victoria's Secret fashion show The top 100 brands for millennials || 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.
[email protected]; follow him on Twitter at@robpegoraro. || Hired-gun hacking played key role in JPMorgan, Fidelity breaches: By Jim Finkle and Joseph Menn
NEW YORK/SAN FRANCISCO (Reuters) - When U.S. prosecutors this week charged two Israelis and an American fugitive with raking in hundreds of millions of dollars in one of the largest and most complex cases of cyber fraud ever exposed, they also provided an unusual look into the burgeoning industry of criminal hackers for hire.
The trio, who are accused of orchestrating massive computer breaches at JPMorgan Chase & Co <JPM.N> and other financial firms, as well as a series of other major offences, did little if any hacking themselves, the federal indictments and a previous civil case brought by the U.S. Securities and Exchange Commission indicate.
Rather, they constructed a criminal conglomerate with activities ranging from pump-and-dump stock fraud to Internet casino break-ins and unlicensed Bitcoin trading. And just like many legitimate corporations, they outsourced much of their technology needs.
"They clearly had to recruit co-conspirators and have that type of hacker-for-hire," said Austin Berglas, former assistant special agent in charge of the FBI's New York cyber division, who worked the JPMorgan case before he left the agency in May. "This is the first case where it's that clear of a connection." Berglas, who now heads cyber investigations for private firm K2 Intelligence, said additional major cases of freelance hacking will come to light, especially as more people become familiar with online tools such as Tor that seek to conceal a user’s identity and location.
RENTED TIME
This week's indictments accused a hacker referred to as "co-conspirator 1" of installing malicious software on the servers of multiple victims at the direction of Gery Shalon, the alleged mastermind of the scheme now under arrest in Israel. A second indictment charges a man referred to as John Doe, believed to be in Russia, for an attack on online trading firm E*Trade <ETFC.O>.
Officials have not said if the co-conspirator and John Doe were the same person, or even if the FBI knows their true identities.
Law enforcement and computer security officials say that outsourced cyber-crime services - including rented time on networks of previously compromised personal computers and custom break-ins - are most readily found on underground Russian-language computer forums, where skilled attackers advertise their services.
The forums are tight-knit communities where newbies must be vouched for by multiple known members and pay membership fees that cost thousands of dollars, said Daniel Cohen, who oversees an undercover team at EMC Corp's <EMC.N> RSA Security that monitors the forums.
“You can find anything you want for an operation. Hackers, servers, software, code writing. They are all available," said Cohen. Individuals hide their identities even from each other, making infiltration and arrests rare.
In this case, the ringleaders are accused of hiring hackers to steal contact information and other data that they then used to help convince ordinary investors to buy little-regulated stocks. Prosecutors have not disclosed how the hackers were compensated.
Fees vary greatly in the cyber underground, depending on the complexity of the assignment and supply of talent available to do a particular job. Elite hackers who pull off the most technically challenging attacks might get a percentage of profits, while others might earn an hourly rate or get paid a few thousand dollars for winning access to a target’s network, researchers said.PUMP-AND-DUMP
All three of those accused this week - Shalon, Joshua Samuel Aaron, who is at large, and Ziv Orenstein, who is also in jail in Israel – began promoting penny stocks before the hacks took place, according to U.S. government claims.
They used websites including Pennystockdiscoveries.com and Stockcastle.com to send emails as part of a scheme in which they invested in penny stocks, spread false information to boost their prices, and then sold them to make windfall profits, according to an SEC suit filed in July.
Orenstein’s lawyer declined to comment, and Shalon’s lawyer did not return messages seeking comment.
In one case in early 2012, the SEC claims that they used the website Stockcastle.com to promote shares in Mustang Alliances Inc, reaping $2.2 million, the largest pump-and-dump cited in the regulator's lawsuit. In March of that year, the British Virgin Islands Financial Services Commission issued an alert warning that two entities tied to Stockcastle were falsely claiming to be registered in the territory. That same year, the enterprise began a massive hacking spree to get contact information for investors who might be good targets, according to prosecutors. By the end of 2013 they had ordered up six hacks that provided data on tens of millions of customers, prosecutors said.
They hit the mother lode in 2014 when they attacked three other firms, and stole data on 83 million customers from JP Morgan alone, prosecutors said.
In addition to JP Morgan and E*Trade, the firms attacked included the mutual fund giant Fidelity Investments, Scottrade, TD Ameritrade Holding Corp <AMTD.N> and News Corp's <NWSA.O> Dow Jones unit, the publisher of the Wall Street Journal, according to court documents and people familiar with the cases.
"To do a 'pump-and-dump' operation, you no longer need 30 people behind phones in a strip mall," said Shane Shook, a security consultant specializing in investigating financial breaches. All you need is to find a hacker on a “Dark Web” forum to provide addresses from customers of financial services firms like Fidelity or JPMorgan, then hire a spam service to push out promotional emails, he said.
Shalon bragged about the stock manipulation scheme, telling the hacker known as co-conspirator 1 in a web chat message that it was "a small step towards a large empire," according to the indictment.
His plan, Shalon told the hacker, was to distribute "mailers" on stocks to those customers. The hacker asked if buying stocks was popular in America, the indictment said, prompting Shalon to reply: "It's like drinking freaking vodka in Russia."
Shalon ultimately made good on his promise to build an empire, according to the indictments. Profits from the pump-and-dump fed into a sprawling conglomerate including offshore Internet casinos and payment-processing services for other criminal operators, such as counterfeit pharmaceutical makers. Shalon also allegedly directed hackers to attack rival casinos, stealing customer data and temporarily bringing down their websites with denial-of-service attacks, which are easily commissioned online.BUTTERFLY AND HIDDEN LYNX
While this week's indictments opened the first major criminal case involving outsourced hacking, there have been other substantial break-ins that researchers believe were contract jobs.
Researchers at Symantec in July attributed a series of precision breaches at Apple, Facebook, Microsoft and Twitter in 2012 and 2013 to a sophisticated gang called Butterfly, which also attacked law firms and pharmaceutical companies.
Computer security firm Symantec concluded that the group likely works for hire, either for a client looking for financial gain in the stock market or for competitors. How Butterfly gets hired remains unclear. Tech criminologist Marc Goodman, author of the book “Future Crimes”, says another group, dubbed Hidden Lynx by Symantec, may consist of contractors moonlighting from jobs with the Chinese military. http://www.symantec.com/content/en/us/enterprise/media/security_response/whitepapers/hidden_lynx.pdf "It's crime as a service," "Goodman said. "They take all the pain out of it."
(Reporting by Joseph Menn in San Francisco and Jim Finkle and Nate Raymond in New York; Additional reporting from Maayan Lubell in Jerusalem; Editing by Jonathan Weber and Martin Howell.) || 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. || Your first trade for Tuesday: The "Fast Money" traders delivered their final trades of the day.
Pete Najarian was a buyer of Pfizer(PFE).
Brian Kelly was a buyer of Garmin(GRMN).
Karen Finerman was a buyer of Dorian LPG(LPG).
Guy Adami was a buyer of Nuance(NUAN).
Trader disclosure: On November 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: Pete Najarian is long AAPL, AMAT, BAC, BMY, BP, CSX, DIS, DISCA, DKS, FOXA, GE, KKR, KO, MRK, PEP, PFE, PHM he is long calls AAPL, ABX, BAC, BEE, DAL, DOW, EMR, FB, FIT, JOY, LUK, MRK, MSFT, PBR, PFE, POT, SLV, TJX, UA, UAL, VZ, WYNN, XLF, ZIOP He is long puts EWW, FCX, MRO. Brian Kelly is long BBRY, GLD, Bitcoin, Hong Kong Dollar, US Dollar; he is short Yuan, British Pound, Candaian Dollar, Euro, Yen, EEM, EWC, EWH, EWU, EWG, SPY. Karen Finerman is long BAC, C, FL, GOOG, GOOGL, JPM, KORS, KORS call spreads, M, SEDG, URI, she is short SPY, Her firm is long ANTM, AAPL, BAC, C, DIS, DIS puts, FL, GOOG, GOOGL, GPS, JPM, KORS, KORS call spreads, MA, URI, URI long puts, WFM, her firm is short IWM, SPY, MDY, USO, XRT, 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.
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• Personal Finance || 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:[email protected]
Johan WattenströmE-mail:[email protected]
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 || Bitcoin Gaining Traction At Colleges Around The World: The purpose of higher education is to provide students with the tools they need to enter their chosen profession. Real-world skills have long been an emphasis at top schools around the world, and now those skills include an in depth study on cryptocurrencies like bitcoin. As digital currencies gain momentum across the globe, universities are taking notice and adding bitcoin courses to their syllabuses in order to keep up with the quickly changing fintech landscape. Teaching In An Evolving Field American Universities like Massachusetts Institute of Technology and Duke University only recently launched bitcoin classes, but others around the world have been offering such courses for years. The University of Cumbria was the first U.K. university to offer bitcoin courses and the University of Nicosia in Cyprus was one of the first to offer a free bitcoin course in 2013 to any interested parties. Related Link: New Ruling Defines Bitcoin As A Commodity In The US Bitcoin Adoption Universities that offer bitcoin studies are creating a major stepping stone for the cryptocurrency as it expands further. Not only do the classes give the best and brightest the tools to solve real-world problems related to digital currencies, but they draw awareness to cryptocurrencies as well. Canadian McGill University and MIT both offered bitcoin giveaways to students in an effort to give the cryptocurrency more traction on campus. Others like the U.K.'s Imperial College have dedicated research to the expanding field and given students and staff the opportunity to collaborate in order to solve some of the cryptocurrency's pressing issues. Bitcoin Payments Not only are schools offering their students a chance to learn more about bitcoin, but many are accepting the cryptocurrency as payment for their studies as well. In 2013, the University of Nicosia in Cyprus was the first college in the world to accept bitcoin as a form of payment. The school announced that its students could pay for courses and other fees using the cryptocurrency, and had its first student pay in bitcoin just weeks later. Story continues See more from Benzinga As Adults Embrace Marijuana, Teens Turn Their Noses Up Here's How The Fed's Decisions Will Affect Central Bankers Around The World Pentagon Working To Overhaul Cybersecurity Protocol © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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)]
1 #bitcoin = $7940.00 MXN | $483.58 USD #BitAPeso 1 USD = 16.42MXN http://www.bitapeso.com || Get $10.00 in BITCOIN for FREE! Claim your #BITCOIN. Here=> http://bit.ly/1GpNLzT Yes this is REAL! #Bitclub #newpriorities || LIVE: Profit = $2,089.58 (2.00 %). BUY B277.93 @ $374.23 (#BTCe). SELL @ $382.00 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || Current price: 271.6$ $BTCUSD $btc #bitcoin 2015-10-20 22:00:06 EDT || Current price of Bitcoin is $250.00. || In the last 10 mins, there were arb opps spanning 14 exchange pair(s), yielding profits ranging between $0.00 and $283.44 #bitcoin #btc || #RDD / #BTC on the exchanges:
Cryptsy: Error
Bittrex: 0.00000003
Average $1.1E-5 per #reddcoin
19:00:02 || Current price: 257.97€ $BTCEUR $btc #bitcoin 2015-10-26 10:00:05 CET || In the last hour, 8 people won 1.00 BTC playing Bitcoin lottery at http://10xbtc.com , the easiest BTC lottery, 160BTC Jackpot || LIVE: Profit = $68.20 (2.07 %). BUY B9.94 @ $330.00 (#Kraken). SELL @ $335.62 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org
|
Trend: up || Prices: 322.02, 326.93, 324.54, 323.05, 320.05, 328.21, 352.68, 358.04, 357.38, 371.29
|
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 2021-04-06]
BTC Price: 58192.36, BTC RSI: 56.04
Gold Price: 1741.50, Gold RSI: 51.76
Oil Price: 59.33, Oil RSI: 46.50
[Random Sample of News (last 60 days)]
What a Transparent Tether Means for Bitcoin: At stake This article is excerpted from Blockchain Bites , a daily roundup of the most pivotal stories in blockchain and crypto news. You can subscribe to get the full newsletter here . Clarity and uncertainty The New York Attorney Generals (NYAG) multi-year investigation into the twinned exchange and stablecoin issuer Bitfinex and Tethers internal finances has wrapped, with the regulator bringing no formal charges . The firms will pay $18.5 million to settle an inquiry centered on claims that the U.S. dollar stablecoin was not fully backed, but have admitted no wrongdoing. Tether (USDT) is the largest stablecoin in the crypto economy. In the past year it has grown from $2 billion to $34 billion, and serves a systemically important role for traders, exchanges and virtually all aspects of this emerging financial sector. Since tethers inception, there have been unanswered questions as to whether this synthetic asset was fully backed by reserves held in a bank account, which Tether claimed. Related: Opera Adds In-Browser Crypto Options With Simplex Integration Tethers claims that its virtual currency was fully backed by U.S. dollars at all times was a lie, Attorney General Letitia James said. According to court documents, Bitfinex and Tether recklessly and unlawfully covered-up massive financial losses, obscured the true risk investors faced, were operated by unlicensed and unregulated individuals and, at one point, lacked a bank account. Tether looks to have gotten off fairly easy. In addition to the aforementioned fine, the firm will provide regular reports on Tethers reserves for the next two years. The firm is also barred from operating in New York State. This increased level of transparency is viewed positively by industry commentators. Castle Island Ventures partner and CoinDesk columnist Nic Carter said this was a historic derisking event for the industry. According to Carter, one of the largest hurdles for institutions to enter the market was the lack of certainty around USDT, despite its outsized role. Story continues For instance, JPMorgan analysts said just last week a loss of faith in tether could cause a liquidity crisis in crypto. In addition to questions about USDTs backing, there have been persistent conspiracies that tether is used to inflate the price of bitcoin . Related: MicroStrategy Bets Another $1B on Bitcoin I think we can put that to bed now, Charles Cascarilla, CEO and co-founder of Paxos, said on CoinDesk TV Tuesday morning. There are still questions about the form these quarterly reports will take, and the level of insight they may provide. [T]he mandatory reporting and transparency requirements are better, although it will depend on the quality and nature of those reports and disclosures, including whether they are independently audited, etc, Elizabeth Renieris, founder of HACKYLAWYER and affiliate at the Berkman Klein Center, said in an email. Obviously the parties cannot be trusted to tell the truth, she continued. Though the issue is larger than just Tether: Until some of the other measures around mandatory reporting and transparency requirements become institutionalized and standardized for stablecoins in general, it wont mean much, Renieris said. One of the most vocal and consistent Tether critics, who goes by the pseudonym Cas Piancey, notes these developments are a positive thing for Tether, and likely the space as well. Ill continue [researching and writing on Tether] because theres still loose ends to tie up in regard to the ongoing CFTC/DOJ actions, but if they start getting regular attestations and being properly regulated then no need to push for that, he added in a direct message regarding the Commodity Futures Trading Commission and the U.S. Department of Justice. Indeed, as Cascarilla said, In the case of Tether, its still unregulated, unaudited and
that will always create concerns. That doesnt mean tether is a source of systemic risk. Quick bites Regulatory update Indias Warren Buffett, Rakesh Jhunjhunwala, Backs Bitcoin Ban ( CoinDesk ) The European Central Bank (ECB) wants veto power over stablecoins like libra. ( CoinDesk ) Nigerias Crypto Ban Fuels Mistrust in Government ( CoinDesk Opinion ) What Janet Yellen Gets Wrong About Bitcoin ( Decrypt ) Capital flows State Bank of India (SBI) is joining JPMorgans blockchain payments network. ( CoinDesk ) Bitcoin payments platform for social networks Bottlepay raised £11 million. ( CoinDesk ) Nasdaq-listed bitcoin mining company Bit Digital partnered with Compute North, Core Scientific and others for a North American expansion. ( CoinDesk ) Uncovering Coinbases $100 billion pre-market valuation. ( CoinDesk Opinion ) Galaxy Digital Leads $4.3 Million SAFT Into Blockchain Platform Centrifuge ( Decrypt ) Rich Getting Richer in PoS Chains: by Chainflows Chris Remus ( The Defiant ) What Happens When Cryptocurrencies Earn Interest? ( HBR ) Who won Crypto Twitter? UPDATE (2/23/2021 18:41): Corrects context around the nature of the investigation. Related Stories What a Transparent Tether Means for Bitcoin What a Transparent Tether Means for Bitcoin || Bitcoin hits $60,000 in record high: (Reuters) - Bitcoin, the world's biggest cryptocurrency, on Saturday crossed a record high of $60,000. Bitcoin has risen sharply this year, broadly outperforming conventional asset classes, partly due to broader acceptance as a form of payment. In recent weeks, companies have taken advantage of its strength to raise hundreds of millions of dollars in funding, capitalizing on improved market sentiment. A $1.5 billion bitcoin bet last month by Tesla Inc saw Elon Musk's electric car company join business software firm MicroStrategy Inc and Twitter boss Jack Dorsey's payments company Square Inc in swapping some traditional cash reserves for the digital coin. Coinbase, the biggest U.S. cryptocurrency exchange, filed last month for a Nasdaq listing. Regulatory approval would represent a landmark victory for cryptocurrency advocates seeking mainstream endorsement. Amid rising customer demand to own and invest in bitcoin, Goldman Sachs Group Inc. said this week that it is exploring how to serve those clients while remaining on the right side of regulation. It recently restarted a cryptocurrency trading desk and this month it started dealing bitcoin futures and non-deliverable forwards. (Reporting by Ann Maria Shibu in Bengaluru; Editing by Angus MacSwan and Daniel Wallis) || Bitcoin hits $1 trillion market cap, surges to fresh all-time peak: By Gertrude Chavez-Dreyfuss and Tom Wilson NEW YORK/LONDON (Reuters) - Bitcoin hit a market capitalization of $1 trillion as it rose to yet another record high on Friday, countering analyst warnings that it is an "economic side show" and a poor hedge against a fall in stock prices. The world's most popular cryptocurrency jumped to an all-time high of $56,399.99, posting a weekly gain of 14%. It has surged nearly 70% so far this month and was last up 8% at $55,664. Bitcoin's gains have been fueled by signs it is gaining acceptance among mainstream investors and companies, from Tesla Inc and Mastercard Inc to BNY Mellon. All digital coins combined have a market cap of around $1.7 trillion. "If you really believe there's a store of value in bitcoin, then there's still a lot of upside," said John Wu, president of AVA Labs, an open-source platform for creating financial applications using blockchain technology. "If you look at gold, it has a market cap of $9 or $10 trillion. Even if bitcoin gets to half of gold's market cap, that's still growth of 4X, or $200,000. So I don't know when it stops rising," he added. The next milestone will be overtaking Alphabet Inc, currently valued at $1.431 trillion, said Jacob Skaaning, portfolio manager at crypto hedge fund ARK36. "There will likely be some big fluctuations along the way, but I'm still very bullish and I believe the uptrend will continue for the time being," he added. Still, many analysts and investors remain skeptical of the patchily regulated, highly volatile digital asset, which is little used for commerce. Analysts at JP Morgan said bitcoin's current prices were well above estimates of fair value. Mainstream adoption increases bitcoin's correlation with cyclical assets, which rise and fall with economic changes, in turn reducing benefits of diversifying into crypto, the investment bank said in a memo. Story continues "Crypto assets continue to rank as the poorest hedge for major drawdowns in equities, with questionable diversification benefits at prices so far above production costs, while correlations with cyclical assets are rising as crypto ownership is mainstreamed," JP Morgan said. Bitcoin is an "economic side show," it added, calling innovation in financial technology and the growth of digital platforms into credit and payments "the real financial transformational story of the COVID-19 era." Other investors this week said bitcoin's volatility presents a hurdle for it to become a widespread means of payment. On Thursday, Tesla boss Elon Musk - whose tweets have fueled bitcoin's rally - said owning the digital coin was only a little better than holding cash. He also defended Tesla's recent purchase of $1.5 billion of bitcoin, which ignited mainstream interest in the digital currency. Graphic: Cryptocurrencies surge multi-fold from March lows - https://fingfx.thomsonreuters.com/gfx/mkt/yzdpxwaynvx/Pasted%20image%201613731432324.png Bitcoin proponents argue the cryptocurrency is "digital gold" that can hedge against the risk of inflation sparked by massive central bank and government stimulus packages designed to counter COVID-19. Yet bitcoin would need to rise to $146,000 in the long-term for its market cap to equal the total private-sector investment in gold via exchange-traded funds or bars and coins, according to JP Morgan. Rival cryptocurrency ether also hit an all-time peak of $1,974.99 on Friday, and was last up 1.2% at $1,961.32, after its futures were launched on the Chicago Mercantile Exchange. Bitcoin's surge extended to crypto-related stocks as well, such as Silvergate Capital Corp, which was up 8.2%, cryptocurrency miner Riot Blockchain, 13.5% higher, and Marathon Patent Group, up 7.3%. Shares of Overstock.com, an online retailer and blockchain tech investor, gained 4.1%; while MicroStrategy Inc, a bitcoin buyer and business intelligence software firm, advanced 4.1%. (Reporting by Gertrude Chavez-Dreyfuss in New York and Tom Wilson in London; Editing by Dan Grebler, Jonathan Oatis and Diane Craft) || Asia Broadband Surpases $1 Million in Gold-Backed Cryptocurrency Sales in First Two Weeks After Launch and Prior to Marketing Campaign: LAS VEGAS, April 06, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the Company has recorded over $1 million in AABBG Gold Token sales within the first two weeks after the token became available for sale on March 22. The initial two weeks of token sales have allowed the Company’s AABBG token developer, Core State Holdings, Corp. (CSHC), to monitor and refine the information and transaction processing to validate token sales operations. Now that the sales verification phase is complete, the Company is proceeding to implement an international marketing campaign aimed to proliferate brand exposure, increase token sales and AABB Wallet transactions and amplify public and investment community awareness of the Company. AABB’s primary goal for the token is to become a worldwide standard of exchange that is secured and trusted with gold backing, by progressively expanding token circulation to the primary sales markets of North America and Europe and expand globally to other predominant and high growth market areas. The Company is now developing, with CSHC, its own proprietary cryptocurrency Exchange that will allow AABB Wallet users to quickly exchange their AABB Gold tokens for major cryptocurrencies such as Bitcoin, Ethereum and Litecoin. The proprietary Exchange will add tremendously to transaction fee revenues and allow for the price appreciation of AABBG, influenced by market demand and the limited supply of tokens released into circulation. The current version of the AABB Wallet allows purchasers to transfer AABBG tokens to others who also have the AABB Wallet, although tokens will not initially be exchangeable within the AABB Wallet for other cryptocurrencies. However, this initial version of the AABB Wallet enables the Company to increase token circulation and accumulate revenues to be utilized for the support and stabilization of the token price when AABBG is freely exchangeable in the open market. AABB embraces a pioneering philosophy with its truly unique Mine-to-Token vertical integration operational approach that strives toward complete independence from FIAT currency. Story continues The initial token release is backed by $30 million in physical gold the Company currently holds and will continue to be backed 100% by additional physical gold acquired from future mining production, gold purchased from cash reserves or credit. At today’s market price of gold, this initial token release available for purchase is 5.4 million tokens at the one-tenth (0.1) gram of gold price (approximately $5.60 USD) for each AABBG token. The token price is tied to and supported by the Company at the market price of gold at a minimum. As the price of gold fluctuates, the minimum supported price of the AABBG token will increase or decrease, but the potential upside price of the token will be driven by market demand. Support for users of the AABB Wallet is available on the token website www.AABBGoldToken.com and on the support page www.AABBGoldToken.com/support/ About Asia Broadband Asia Broadband Inc. (OTC: AABB) is a resource company focused on the production, supply and sale of precious and base metals, primarily to Asian markets. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate its innovative distribution process from the production and supply of precious and base metals in Mexico to client sales networks in Asia. This vertical integration approach to sales transactions is the unique strength of AABB that differentiates the Company and creates distinctive value for shareholders. The Company has recently released its freshly minted mine-to-token gold-backed cryptocurrency AABB Gold token (AABBG) and strives to become a world-wide standard of exchange that is secured and trusted with gold backing, an outstanding quality relative to other cryptocurrencies. Contact the Company at: Investor Brand Network General Email: [email protected] Token Support : www.AABBGoldToken.com/support/ Company Website: www.asiabroadbandinc.com Token Website: www.AABBGoldToken.com Phone: 702-866-9054 Forward-Looking Statements are contained in this press release within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Asia Broadband Inc.’s (the “Company”) expected current beliefs about the Company’s business, which are subject to uncertainty and change. The operations and results of the Company could materially differ from what is expressed or implied by the statements made above when industry, regulatory, market and competitive circumstances change. Further information about these risks can be found in the annual and quarterly disclosures the Company has published on the OTC Markets website. The Company is under no obligation to update or alter its forward-looking statements as future circumstances, events and information may change. Corporate Communications: InvestorBrandNetwork (IBN) Los Angeles, California www.InvestorBrandNetwork.com 310.299.1717 Office [email protected] || FOREX-Dollar holds nerve before Powell, Aussie and kiwi rise again: * Graphic: World FX rates https://tmsnrt.rs/2RBWI5E * Treasury market regains calm, yields support dollar * Safe-harbour yen and Swiss franc fall against greenback * Powell comments could set the tone for global markets By Stanley White TOKYO, March 4 (Reuters) - The dollar hit a seven-month high against the yen on Thursday as a more orderly rise in U.S. Treasury yields lent support ahead of a speech by Federal Reserve Chairman Jerome Powell that may determine the trend for global bond markets and currencies. The dollar also traded near a three-month high against the Swiss franc and held on to gains against most currencies as a renewed sense of calm in the Treasury market underpinned sentiment. However, the greenback lost ground against its Australian and New Zealand counterparts as traders who expect stronger global growth continued to stock up on commodity currencies. Investors are anxious to see if Powell expresses concern about a recent volatile sell-off in Treasuries and if there is any change in his assessment of the economy before the Fed's next meeting ending March 17. The dollar may extend gains versus the yen as long as Treasury yields rise at a measured pace, but the greenback is likely to fall against currencies of major commodities exporters as more signs point to a rebound in global growth. "The performance of the dollar will vary depending on the currency," said Masafumi Yamamoto, chief currency strategist at Mizuho Securities. "Dollar/yen looks well bid because of yields and because Japan's economy is underperforming relative to the United States, but as long as commodity prices rise, the dollar will weaken against commodity currencies." The dollar rose to 107.09 yen, the highest since July last year. The U.S. currency bought 0.9191 Swiss franc, close to the highest since November. The British pound steadied at $1.3955, while the euro traded at $1.2057, nursing a 0.24% loss from the previous session. The benchmark 10-year Treasury yield edged up to 1.4757%. A chaotic sell-off in Treasuries from the start of the year on concerns that massive government spending to support the global economy may drive up inflation culminated in 10-year yields rising to a one-year high of 1.6140% last week. The move was so rapid that global stock markets tumbled and the dollar swooned against most currencies, but the greenback has since regained its composure as disorderly selling of Treasuries ebbed, for now at least. The dollar index stood at 91.005 against a basket of six major currencies, holding on to a 0.32% gain from Wednesday. The Australian dollar, which is often traded as a proxy for global growth because it is closely tied to commodities, recovered from early losses and rose to $0.7799. The New Zealand dollar, another closely watched commodity currency, also firmed slightly. Traders said the Aussie and the kiwi are likely to continue rising because both economies are rebounding strongly from the COVID-19 pandemic and they will both benefit from an acceleration in global trade. In the cryptocurrency market, bitcoin fell 1.49% to $49,647, while rival digital currency ether fell 0.65% to $1,557. Bitcoin has surged 78% so far this year as it gains more acceptance in the financial services industry, but the U.S. financial regulator is likely to start working on guidelines for digital assets, which could increase scrutiny of cryptocurrencies. ======================================================== Currency bid prices at 0532 GMT Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar $1.2057 $1.2062 -0.04% -1.32% +1.2065 +1.2044 Dollar/Yen 107.0450 106.9600 +0.11% +3.67% +107.1050 +106.9900 Euro/Yen 129.06 129.08 -0.02% +1.69% +129.1300 +128.9200 Dollar/Swiss 0.9191 0.9200 -0.10% +3.89% +0.9200 +0.9190 Sterling/Dollar 1.3955 1.3950 +0.01% +2.12% +1.3956 +1.3920 Dollar/Canadian 1.2648 1.2656 -0.02% -0.63% +1.2674 +1.2652 Aussie/Dollar 0.7799 0.7775 +0.30% +1.37% +0.7800 +0.7753 NZ 0.7257 0.7246 +0.14% +1.04% +0.7258 +0.7227 Dollar/Dollar All spots Tokyo spots Europe spots Volatilities Tokyo Forex market info from BOJ (Reporting by Stanley White; Editing by Richard Pullin, Ana Nicolaci da Costa & Shri Navaratnam) || Microsoft’s ION Digital ID Network Is Live on Bitcoin: A radical new framework for how to authenticate online identities just went live on the Bitcoin network.
Microsoft’s Decentralized Identity team has launched the ION Decentralized Identifier (DID) network on the Bitcoin mainnet. This network is a layer 2 technology similar to Lightning except that instead of focusing on payments it uses Bitcoin’s blockchain to create digital IDs for authenticating identity online.
An ID network like ION could be the key to unlocking a web where users no longer have to fumble with passwords, emails and cell phones for verification.
Related:Whale Shark's NFT Collectors Playbook
“We are excited to share that [version 1] of ION is complete and has been launched on Bitcoin mainnet. We have deployed an ION node to our production infrastructure and are working together with other companies and organizations to do so as well. ION does not rely on centralized entities, trusted validators or special protocol tokens. ION answers to no one but you, the community,” Microsoft’s Daniel Bucnher writes in a blog post.
As noted by Buchner, ION is open source, so anyone can download the code and run an ION node to use the service. It uses Sidetree, an open-source protocol for decentralized identifiers built by devs from Microsoft, ConsenSys, Mattr and Transmute.
Open to the public after being inclosed betasince June 2020, ION uses the same logic as Bitcoin’s transaction layers to sign off on identity. A public key and its associated private key are used to verify that a user owns an ID.
For example, to log into your email or social media in a world that uses ION, you would verify you own your account by “signing” your DID with your ION account. Thanks to the cryptographic links that ION creates to Bitcoin, the ION network would verify for the service provider that you own the ID associated with your account.
Related:Bank of Japan Forms Committee to Coordinate CBDC Efforts
Any personal data (name, age, etc) tied to that ID is stored off-chain, depending on the service. ION’s IDs are anchored to Bitcoin’s blockchain using the InterPlanetary File System (IPFS) protocol, and ION nodes can process up to 10,000 ID requests in a single transaction.
Users can create and manage multiple IDs with different keys for different services. Some of these may be used recurrently to log into services that users access daily including email and social media, or could be used in one-off ways such as verifying concert or event tickets.
Anyone interested in running ION can do so througha remote nodeor by downloading itdirectly on a native device.
Microsoft hasdeveloped an application programming interface (API)for developers who would like to interact with the service without downloading a node or wallet. The company has also built anexplorerfor looking up DIDs created on the network.
With version 1 launched, the team will focus on releasing a “light client” for bootstrapping nodes faster and streamlining ID resolution by authorizing an ID while its related transaction is still in Bitcoin’s mempool.
Microsoft’s ION has attracted contributions from Bitcoin and crypto mainstays including Casa, ConsenSys, Gemini, BitPay and Protocol Labs, as well as a hand from the teams at Cloudflare, Spruce and others.
ION has also worked with the Transmute and SecureKey teams who are building their own DID networks.
Decentralized Identity is a good example of a non-monetary use case for public blockchains like Bitcoin, and it’s evenon the radarof the World Economic Forum’s blockchain chief. The World Wide Web Consortium (W3C), a body for web standards founded in 1994),is currently evaluating DIDsas a candidate recommendation, meaning the forum is considering recognizing these identity frameworks as an international standard.
Blockchain Commons head and crypto veteran Christopher Allen told CoinDesk in 2019 that Microsoft embracing Bitcoin’s properties for DIDs is “a step in the right direction.”
“You could have a service that is in the cloud hosted by Microsoft Azure, but is absolutely secure because everything in it is encrypted with your keys that you control and everything that run under your authority, even though it’s in the cloud,” Allen said.
• Microsoft’s ION Digital ID Network Is Live on Bitcoin
• Microsoft’s ION Digital ID Network Is Live on Bitcoin || Marathon: Higher Bitcoin Price Merits Higher Valuation: There’s no stopping Bitcoin right now. BTC is now trading at all-time highs and dragging any satellite companies associated with it along for the ride. Case in point: Shares of bitcoin miner Marathon (MARA) skyrocketed 67% this week, taking 2021’s tally to a year-to-date gain of 260%.
The rising bitcoin price has demanded a rethink from H.C. Wainwright analystKevin Dederegarding his Marathon model.
Accordingly, Dede increased his 2021 estimates from the prior revenue forecast of $161.2 million and EPS of $1.10 to $195.7 million and $1.20, respectively.
Bitcoin is known for its volatility and an investment in it requires dealing with the prospect of massive drops as well as the huge forward strides. Dede points out that from an analyst’s perspective, keeping pace and “offering forecasts” due to the “rash unpredictability and the weak relationship between bitcoin price and network hash” is no easy task, either.
The problem right now is that Dede’s forecast is based around Bitcoin’s price remaining stable in the $35,000 price range. The recent surge beyond that level further enhances his point.
“One might argue a flattish view forward on price could be read as conservative in light of the overarching economic environment and bitcoin's ‘promotion’ to alternative asset by leading investment houses,” the 5-star analyst says.
The company might be focused on mining Bitcoin, but it recently invested $150 million of the $250 million of capital it raised in January in acquiring 4,812.66 BTC.
Not only does the purchase allow Marathon to further reap the benefits of a rising Bitcoin price, Dede says, it also provides a “solid platform from which to offer financial instruments to hedge both its long position and its mining efforts against network hash rate, bitcoin price, and electricity rates should its next facility be subject to power cost changes.”
To this end, Dede rates MARA shares a Buy along with a $30 price target. However, the stock’s latest moves have sent the share price beyond Dede’s target, which now represents 23% downside from current levels. It will be interesting to see whether the analyst downgrades his rating or keep upgrading his target. (To watch Dede’s track record,click here)
Marathon still appears to be flying under Wall Street’s radar and Dede’s is currently the sole analyst review on record. (See MARA 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 analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment. || Musk Says Teslas Can Now Be Bought Using Bitcoin That Will Be Stored, Not Turned to Fiat: CEO Elon Musk said Tesla vehicles can now be purchased usingbitcoin, increasing the company’s sizable cryptocurrency holdings.
The Tesla CEOsaidvia Twitter Wednesday the bitcoin the company receives will stay as bitcoin and not be converted into fiat.This option will also be made available outside the U.S. later this year.Musk added that Tesla operates Bitcoin blockchain nodes directly using internal and open-source software.
The move will see Tesla add to its already sizable bitcoin holdings, which Musk revealed on Feb. 8. At the time, Tesla’s trove was valued at $1.5 billion and is worth quite a bit more now.Musk’stweetdisclosing the purchase then propelled bitcoin to an all-time high of $44,801.The news today will be welcomed by bitcoin investors who have seen the world’s most valuable crypto tread water around the $55,000 mark in recent days.Musk’s tweet has already given a lift to the price of bitcoin, which is currently at $56,293.57, up 3.45% in the last 24 hours.
See also:Bids for Elon Musk’s Crypto-Themed NFT Pass $1M
• Musk Says Teslas Can Now Be Bought Using Bitcoin That Will Be Stored, Not Turned to Fiat
• Musk Says Teslas Can Now Be Bought Using Bitcoin That Will Be Stored, Not Turned to Fiat
• Musk Says Teslas Can Now Be Bought Using Bitcoin That Will Be Stored, Not Turned to Fiat
• Musk Says Teslas Can Now Be Bought Using Bitcoin That Will Be Stored, Not Turned to Fiat || Shark Tanks OLeary Says a Made in China Label on Bitcoin Keeps Some Funds Away: The reluctance of many institutions to have exposure to China is going to a problem for mass investment in bitcoin as most of the cryptocurrency is mined there, said Kevin OLeary, co-host of the TV show Shark Tank. Speaking at the Cboe Global Markets webinar, OLeary said that for bitcoin to really take off with institutions, it needs to be acceptable to ethics and sustainability committees. It needs to be compliant, said OLeary, who is also chairman of OLeary Fund Management. Thats going to be a problem going forward. OLeary said institutions are going to be asking themselves: Is this coin manufactured in countries that are abusing human rights or have sanctions against them? Im really speaking now of China. I have had many institutions tell me they do not want to own China coin,' he said. OLeary said he spends a fair amount of his time trying to deal with miners that are willing to mine compliantly, both on his own behalf and for institutions. The firms are really interested in owning a coin that have some kind of provenance to them. Related Stories Shark Tanks OLeary Says a Made in China Label on Bitcoin Keeps Some Funds Away Shark Tanks OLeary Says a Made in China Label on Bitcoin Keeps Some Funds Away Shark Tanks OLeary Says a Made in China Label on Bitcoin Keeps Some Funds Away Shark Tanks OLeary Says a Made in China Label on Bitcoin Keeps Some Funds Away || UPDATE 1-Bitcoin soars to all-time high after BNY Mellon announces crypto venture: (Adds comment, updates price)
By Gertrude Chavez-Dreyfuss
NEW YORK, Feb 11 (Reuters) - Bitcoin on Thursdayjumped to a fresh all-time high after BNY Mellon said itformed a new unit to help clients hold, transfer, and issuedigital assets.
The new unit at BNY Mellon is expected to roll out theofferings later this year, the bank said.
Bitcoin hit a record high of $48,481.45 earlier on Thursdayand was last up 6.9% at $47,932. The largest virtual currency interms of market capitalization has gained about 66% so far thisyear and soared roughly 1,200% since mid-March 2020.
The BNY Mellon announcement came just days after Elon Musk'sTesla revealed it had bought $1.5 billion worth of thecryptocurrency and would soon accept it as a form of payment forits cars.
After long being shunned by traditional financial firms,bitcoin has finally entered the mainstream.
Last month, BlackRock Inc, the world's largest assetmanager, added bitcoin as an eligible investment to two funds,and on Wednesday, credit card giant Mastercard Inc saidit was planning to offer support for some cryptocurrencies onits network this year.
But Luca Paolini, chief strategist at Pictet AssetManagement, said corporations were hedging themselves againstthe possibility that bitcoin succeeds.
"And so companies probably do what some retail investors aredoing, to say well this bitcoin will probably fail, but there isstill a low chance that it may not fail. And so, they want to bepart of it," he told the Reuters Global Markets Forum.
Rival cryptocurrency ethereum was 3% higher at $1,793.88after hitting a record high of $1,839 on Wednesday,days after its futures began trading on the Chicago MercantileExchange.
Some market participants though continued to advise caution.
"Investors must remember that bitcoin is not a simple,get-rich-scheme. In reality, it has been, and will continue tobe, susceptible to downward price swings – especially when theshort-term winners look to withdraw their earnings," said GavinSmith, chief executive officer of cryptocurrency consortium,Panxora Group.
"While another upwards price run is on the horizon,investors should remain cautious and look to implement a steadyrisk management strategy," he added.(Reporting by Gertrude Chavez-Dreyfuss; Additionl reporting byTom Wilson in London and Niket Nishant in Bengaluru; Editing byKirsten Donovan)
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: up || Prices: 56048.94, 58323.95, 58245.00, 59793.23, 60204.96, 59893.45, 63503.46, 63109.70, 63314.01, 61572.79
|
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]
Not fully available.
[Random Sample of News (last 60 days)]
Natural Gas ETF Climbs as Weather Conditions Heat Up: This article was originally published onETFTrends.com.
Natural gas futures and related exchange trades were on fire Friday as a notable shift in the weather pattern, along with short sellers caught out of position, helped push prices higher.
TheUnited States Natural Gas Fund (UNG) gained 6.7%. Meanwhile, Nymex natural gas futures were 6.3% higher to $2.44 per million British thermal units.
Looking ahead, NatGasWeather projected a hot US pattern through Saturday with highs of upper 80s to lower 90s from the Great Lakes to the Northeast, including Chicago and New York City for July 3 to July 9.
The Southwest is expected to be the hottest with highs into the 100s. Consequently, the nation’s strongest demand will be across the Southeast and Mid-Atlantic Coast as highs reach the mid-90s. Additionally, the high humidities could push the Heat Index into the 100s.
"Overall, demand will be high through Saturday, then easing to moderate,” according toNatGasWeather.
Bespoke Weather Servicesalso underscored the hotter July than the market was prepared for last week. They also argued that the magnitude of the rally was exaggerated due to the large short position that had built up in the market in recent weeks. Short sellers would have to shift into a long position when they are caught out of positions, such as what happened on Friday, further fueling the price spike.
"Many of these new shorts have had to cover heading into the weekend. This sets the market up for potentially another very interesting week next week, as we see if the weather pattern can hold these hotter changes, add to them, or revert back somewhat cooler," Bespoke Weather Services said.
Currently, we see a lack of cooler conditions anywhere, which may keep national demand elevated. The projected gas-weighted degree day total for this July is getting close to the levels seen in July 2018, which was previously one of the hottest or highest demand Julys on record.
For more information on the natgas market, visit ournatural gas category.
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READ MORE AT ETFTRENDS.COM > || Give the Money, Keep the Tax Break with Donor-Advised Funds: I doubt many people would say that getting a deduction on their income taxes is their main motivation for charitable giving. It's more likely they've been inspired to support a cause they believe in or an organization they respect -- a children's hospital, veterans group or maybe research into a medical condition. Some people just have a philanthropic mindset. SEE ALSO: Choosing Between a Private Foundation vs. Donor-Advised Fund Still, taxes are an important consideration for many donors, who may have given more to their favorite charities over the years because of the tax deduction they received when itemizing on their income tax returns. Getting that charitable tax deduction is tougher now, since the Tax Cuts and Jobs Act of 2017 (TCJA). Because of changes in the law, taxpayers who take the new, doubled standard deduction, instead of itemizing, miss out on the opportunity to write off their charitable contributions. That loss came as a surprise and disappointment to those who didn't know about the tax law changes, or hadn't planned for them, before the end of tax year 2018. But there is a way to get back on track for 2019, 2020 and every tax year through 2025. For very generous donors, a Donor-Advised Fund (DAF) allows you continue to support your favorite charities, while still receiving charitable tax deductions. DAFs aren't new, but they've been gaining traction since the passage of the new tax law -- and I expect their popularity to grow as more donors catch on to the tax benefits available. How does a DAF work? A DAF allows you to make tax-deductible "bunched" charitable contributions to your DAF, in the current tax year, that exceed your standard deduction. Then, in this tax year and/or in future tax years, you "advise" your DAF to grant funds to your favorite charities. So, if you used to give $10,000 per year to your favorite charities, under the new standard deduction you wouldn't be able to itemize and enjoy the charitable tax deduction. But let's say you give $50,000 in the current tax year to your DAF, itemize the entire $50,000 in the current tax year and then don't put any more into your DAF for the next four tax years. Story continues Instead, in future tax years, you can "advise" your DAF to grant an amount of money to the charities you wish to benefit. And, just as you can advise your DAF to grant money to those charities each tax year, you have the power to advise your DAF to stop granting money, should your favorite charity stray from the straight and narrow. You could then choose another charity to advise your DAF to grant to instead. It's just good stewardship. And you can choose from a wide range of assets to donate to your DAF -- not just cash, but securities, real estate and even Bitcoin. The assets you donate to your DAF grow tax-free, until you choose which qualified nonprofit organization (or organizations) should receive grants from your DAF and when. Even if you spread your gifts over several future tax years, you can claim the charitable tax deduction for the entire amount donated to your DAF in the current tax year. The amount donated to your DAF (up to 60% of your adjusted gross income), combined with other potential tax deductions, could result in a larger amount than your standard deduction. ( In 2019, the standard deduction is $24,400 for married couples filing jointly. For single taxpayers and married individuals filing separately, it's $12,200. And for heads of households, it's $18,350.) You'd get the tax break in the current tax year -- or any year you donate to your DAF -- and just take the standard deduction in other tax years. Meanwhile, you'd advise your DAF to grant money at a pace that's comfortable for you, year-by-year. See Also: So, You Want to Start a Foundation? Great! Advantages of a DAF Why not just give the entire amount to your charity all in one year? For one thing, because a DAF is an investment account, you can continue to grow the money you plan to donate and potentially increase the impact of your giving. Also, you haven't gone "all in" on a charity that you may in the future learn is now misbehaving or has adopted policies that you disagree with. Your DAF's custodian technically can deny any grant you advise it to make, but in reality, that's not in the interest of your DAF's custodian. They want to keep you happy. Setting up a DAF is easier and less expensive than establishing a private foundation. Your DAF is overseen by a nonprofit arm of your securities custodian. Your investment adviser can manage the investments in your DAF for you. You don't need a team of lawyers, accountants or private foundation staff. To add to the convenience, you can get started with far less money than a private foundation requires. (Many DAFs have a $5,000 minimum.) You may not be establishing a long-term legacy with a DAF, as you might be with a family foundation. Most donors I work with like the DAF approach as a way to give during their lifetime. They aren't necessarily expecting it to continue into the next generation. Some families use DAFs to work toward shared charitable goals -- without the same costs and complications of setting up a private foundation. If you missed out on charitable tax deductions in 2018, there's still time to check out the benefits of a DAF for the current tax year and beyond. Talk to a trusted investment professional about how this alternative approach to charitable giving could work for you and the causes you support. See Also: 10 Things Anyone Considering a QCD Should Know Kim Franke-Folstad contributed to this report. Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Scott Tucker Solutions, Inc. are not affiliated companies. Investing involves risk, including the potential loss of principal. Neither the firm nor its agents or representatives may give tax or legal advice. Individuals should consult with a qualified professional for guidance before making any purchasing decisions. Scott Tucker Solution, Inc. is not affiliated with the U.S. government or any governmental agency. 176758 Comments are suppressed in compliance with industry guidelines. Click here to learn more and read more articles from the author. This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA . EDITOR'S PICKS The Bodacious Benefits of a Donor Advised Fund How to Give ... Without Giving Up Your Deductions What Type of Giver Are You? To Do the Most Good, Find Your Giving Personality Copyright 2019 The Kiplinger Washington Editors || Huawei CEO believes China can beat Libra to launch native crypto: Huawei CEO and founder Ren Zhengfei has responded to Facebook’s planned launch of Libra by stating: “China can issue its own Libra”. According to Sina , who recorded quotes from a recent press conference in Italy, Zhengfei said that China has the capability of launching its own native cryptocurrency as regulatory uncertainty mounts surrounding Libra. Libra representative David Marcus faced a series of scathing questions in last week’s US Senate hearing, putting the 2020 launch of the project in jeopardy. Coin Rivet reported that the project was “hanging in the balance” , according to comments from economist Janice Winterburn. But the Huawei CEO remained unperturbed, saying: “China can also issue such a currency by itself. Why wait for others to issue it? The power of a country is always stronger than an internet company.” Founder of Huawei: China can just issue our own version of Libra. Why should we wait for others to do it? The power of a country is always stronger than that of an Internet company. Source (in Chinese): https://t.co/llbM6noiMI — cnLedger (@cnLedger) July 26, 2019 The view on cryptocurrencies in China has changed radically since 2017, when the country infamously ‘banned’ Bitcoin and ICOs. Last week, a court ruling declared that Bitcoin is now a ‘legally protected asset’ in China. This coupled with the People’s Bank of China’s drive towards a Central Bank Digital Currency (CBDC) reiterates China’s desire to innovate in this ecosystem. The director of the People’s Bank of China – Wang Xin – said that the launch of a currency like Libra, which uses a basket of currencies mainly comprised of the US dollar, “would bring a series of economic, financial, and even international political consequences”. For more news, guides, and cryptocurrency analysis, click here . The post Huawei CEO believes China can beat Libra to launch native crypto appeared first on Coin Rivet . || John McAfee Over the Moon, Offers His Services to Cuba on Crypto: John McAfee is ecstatic about the prospect of Cuba developing its own cryptocurrency and has offered his services to help. | Source: AP Photo/Moises Castillo The nation of Cuba has formally announced plans to utilize cryptocurrency on an international scale, and one resident couldnt be happier. John McAfee , who is currently hiding out somewhere in Havana, praised the decision by the Cuban government and offered his help. Cuba is planning to use Cryptocurrency to get around the 63 years of economic strangulation imposed upon 14 million Cuban people by the insanity of the US Government. Finally, a large scale, real world application for Cryptocurrencies. If Cuba wants my help, I am here. pic.twitter.com/zgHUNwRcdE John McAfee (@officialmcafee) July 3, 2019 McAfee Cheers Cubas Foray Into Crypto McAfee might not care what the United States thinks, but many cryptocurrency advocates may have concerns. Cuba is probably only seeking to utilize digital currency as a means of evading U.S. sanctions. Sanctioned nations like Venezuela, Russia, and Iran have all floated the idea of using crypto as a means of trading internationally. Venezuela has gone the furthest with its Petro , but it was not successful. North Korea has also been using blockchain technology. Rather than launch a coin, Kim Jong Un has preferred to go the route of mining and theft to line his coffers. According to a report by Reuters , Economy Minister Alejandro Gil Fernandez said the following regarding Cubas plan to utilize crypto: We are studying the potential use of cryptocurrency
in our national and international commercial transactions, and we are working on that together with academics. Cuba Plan Raises the Risk of Anti-Bitcoin Regulation Read the full story on CCN.com . || Bitcoin Price Recovers 20% to Break $11,000; Pullback Done, Huge Rally Next?: Historical trends show bitcoin is due to rally after a pullback. | Source: Shutterstock Within a week, from June 26 to July 2, the bitcoin price fell from $13,868 to $9,651, recording a 30 percent pullback against the U.S. dollar. The bitcoin price demonstrates an impressive 20 percent upside movement as the best performing major cryptocurrency Technical analysts have expressed optimism towards the swift recovery of bitcoin from a large pullback as the dominant crypto asset has shown a change in trend within a short time frame. A big pullback for bitcoin is often followed by a rally According to Josh Rager, a cryptocurrency technical analyst, when the bitcoin price experiences a steep correction, it is often followed by a major rally. Rager said : BTC has just hit over 20% gain in less than 24 hours Looking extremely bullish and could be heading towards $11,760 (1 day resistance) Wanting to go to sleep but its hard to rest when Bitcoin crushes resistance after resistance on lower time frames. We had our 30% pullback so whats next? History says that price consolidates followed by an average gain of 153% before the next big pullback There are great rewards for buying pullbacks in a bull market. Read the full story on CCN.com . || $32 Million Swiped From Cryptocurrency Exchange in Latest Hack: (Bloomberg) -- Japanese cryptocurrency exchange Bitpoint suspended all services after losing about 3.5 billion yen ($32 million) in a hack that involved Ripple and other cryptocurrencies.
The exchange, which is owned by Remixpoint Inc., said about 2.5 billion yen of stolen funds belonged to customers, while Bitpoint owned the rest. Remixpoint shares plunged 19% to their daily lower limit, and were untraded in Tokyo as of 1:44 p.m. on a glut of sell orders.
The funds were stolen from a hot wallet that contained five cryptocurrencies including Bitcoin and Bitcoin Cash. It said it hasn’t discovered any funds missing from cold wallets.
The exchange was among cryptocurrency operators ordered by Japan’s Financial Services Agency to improve internal controls following the 2018 hack of Coincheck.
To contact the reporter on this story: Lily Nonomiya in Tokyo at [email protected]
To contact the editors responsible for this story: Kyung Bok Cho at [email protected], Gearoid Reidy
For more articles like this, please visit us atbloomberg.com
©2019 Bloomberg L.P. || Cost of Capital One’s data breach could exceed $300 million: expert: Capital One’s (COF) data breach of 100 million credit card applications and accounts could become costly for the company as well as its compromised customers.
“This damage to Capital One is probably going to exceed $200 to $300 million dollars by the time it’s all said and done,” said Morgan Wright, cybersecurity expert and senior fellow at the Center for Digital Government, on Yahoo Finance’sThe Ticker.
Credit rating agency DBRS estimates the incremental costs to be $100 million to $150 million this year. In a note, it says the costs will be “associated with customer notifications, credit monitoring, technology costs, and legal support.”
But in less than 24 hours since the bankdisclosedthe hack, it was hit with aproposed class action lawsuitover serious “security failures” along with an investigation by New York Attorney General Letitia James.
Even though lawsuits are expected to pile up, Wright believes it won’t drag out as long as Equifax (EFX) did, after only agreeing last week to pay $700 million to settle its security breach impacting 147 million people two years ago.
“In something like this, I think this one is going to be pretty much accelerated. It was very quick, it was contained, the FBI was able to get on this right away and make an arrest so we now know what the extent of the damage is,” he said.
And Wright says Capital One’s case is not like Equifax.
“It wasn’t really like gross negligence, like it was at Equifax where they were warned, they were told you’ve got this vulnerability you should’ve patched it,” said Wright.
Wright said he believes the costs to Capital One will be limited compared to the credit agency, but there are other factors that will add to the damage to the bank.
“It’s not the penalties, it’s going to be all the long-term cost, all the reputation hit, the lost business,” he said. “That’s going to hurt Capital One more than any litigation will at this point.”
Grete Suarez is producer at Yahoo Finance for YFi PM and The Ticker. Follow her on Twitter:@GreteSuarez
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Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,SmartNews,LinkedIn,YouTube, andreddit. || After Muted Minutes Response, Pressure Squarely on Powell to Deliver Powerful Message: In the aftermath of the release of the minutes of the July Federal Reserve monetary policy meeting, we saw another bond market yield curve inversion, but other than that, the response in the financial markets was pretty tame.
Does this mean investors have already become accustomed to the phenomenon, or that the minutes are old news and investors would rather keep their powder dry until they hear from Fed Chief Jerome Powell on Friday?
Given that the minutes are old news and usually are a reiteration of the Federal Reserve’s monetary policy statement and press conference remarks from Powell, the response seems reasonable. Essentially, the minutes contained no surprises.
The price action in the Treasury and stock markets is interesting. In my opinion. The yield inversion was the warning signal to the Federal Open Market Committee (FOMC) to be aggressive in its quest to save the economy, while the strength in the stock market indicates that investors are betting that they will do the right thing in a timely manner.
Shortly after the Fed’s 18:00 GMT release of its minutes, the yield curve between the 2-year note and the 10-year note flattened. It then briefly inverted a little later with the 2-year yield rising above the 10-year yield. This move was similar to the one made about a week ago.
I think it’s best to describe this “brief inversion” as a “flash” recession signal. In other words, this is a warning to the Fed to act aggressively to prevent a recession. I know there are some who believe that since it flashed the recession, it is going to happen. This is not the right way to look at the signal. There are other events that have to take place before we actually have a recession.
Remember the classic definition of a recession? An economic recession is typically defined as a decline in gross domestic product (GDP) for two or more consecutive quarters. Additionally, keep in mind the research from Credit Suisse. Its shows that stocks usually rally after the yield-curve inverts, and that an actual recession tends to begin on average about 22-months after the inversion.
According to the current Credit Suisse ‘Recession Dashboard’, the yield curve is the only economic indicator pointing to a recession.
Furthermore, in past recessions, indicators like inflation trends, job creation, credit performance, ISM manufacturing, earnings quality and the housing markets were all recessionary or neutral, while the current state of the economy is telling a different story.
Given the Credit Suisse data and the muted reaction to the Fed minutes, I have to conclude that Wednesday 2-year/10-year yield inversion was just a warning to the Fed that a recession could develop.
Furthermore, it shows that investors want Federal Reserve Chairman Jerome Powell and the FOMC members to cut very aggressively. Due to the muted reaction in the financial markets, a dovish spin by Powell on Friday should trigger a more volatile reaction in the markets.
Thisarticlewas originally posted on FX Empire
• Asian Shares Dip After Japanese Manufacturing Activity Disappoints
• Gold Price Prediction – Prices Slip Following Fed Minutes
• USD/JPY Price Forecast – US dollar continues to teeter back and forth
• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 22/08/19
• U.S. Stocks Rally on Strong Retailer Earnings; Brief Bond Inversion Puts FOMC, Powell on Notice
• US Stock Market Overview – Stock Rally Led by Target Following Better than Expected Financial Results || Bitcoin Rebounds, Surges Above $11,000: Investing.com - Bitcoin rebounded on Wednesday in Asia and surged above $11,000, after falling to as low as $9,728.50 overnight.
It last traded at $11,338.7 by 11:45PM ET (03:45 GMT), up 8.9%.
Bitcoin began its free fall last Thursday and was down almost $4,000 from its highs last week.
The highly volatile cryptocurrency has had a stellar turnaround this year and surged about 200% so far this year, despite the latest fall. It still remains well below record highs of nearly $20,000 reached in December 2017, however.
The comeback was largely due to Facebook’s announcement of its own cryptocurrency known as Libra, which it plans to launch in 2020.
It will be run by Stripe, Uber (NYSE:UBER), Mastercard (NYSE:MA), Visa (NYSE:V), PayPal, Spotify (NYSE:SPOT) and others.
Other major cryptocurrencies also traded mostly higher today.
Ethereum was up 2.6% to 296.35, while Litecoin gained 1.5%.
XRP, however, slipped 0.8% to 0.40247.
In other news, while not a directional driver, the Bank for International Settlements announced this week that it is setting up an innovation FinTech Hub for financial technology.
BIS General Manager Agustin Carstens said that “it might be that it is sooner than we think that there is a market and we have to create our own digital currencies.”
“There needs to be demand for central bank currencies and it is not clear that the demand is there yet,” Carstens told the FT. “Perhaps people can do what they want by using electronic wallets provided by banks or fintech companies. It depends on the development of private stable coins.”
The BIS’s hub will be set up in Switzerland, Hong Kong and Singapore, according to a statement.
According to Bloomberg, central banks including Sweden’s are currently looking into introducing virtual coins of their own.
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$515 Million in Bitcoin Spent on Illicit Activity This Year Representing 1% of Total BTC Activity || Bitcoin is Myspace of the crypto world. Has its answer to Facebook finally arrived?: Since the inception of cryptocurrency, there has been an ongoing challenge to commoditise the digital coin on a large scale and enable it to become a viable consumer currency used for daily purchases, as opposed to a fund for high risk investors. The announcement from Facebook that it is launching its own cryptocurrency, Libra, has the potential to change all of this. With close to 2.4 billion people using its social network each month, combined with the companys many other social platforms, like WhatsApp and Messenger, Facebook brings with it the necessary critical mass to help take Libra mainstream. Overcoming regulatory hurdles However, a growing challenge for any new cryptomerchant is regulation. National regulators around the world are now much more knowledgeable about cryptocurrencies than they were even two years ago and are developing global policies, alongside card scheme limitations, to bring them under the oversight of the relevant authorities. There have been some countries that have taken the leap into facilitating the use of crypto early on, such as Estonia and Malta. But, with Facebooks customers potentially driving Libra into every corner of the globe, those regulators that havent yet made moves will need to be on their toes and prepare the way now for the arrival of digital currency. Most governments and regulators have resisted acting to bring crypto into the fold for several reasons. Many lack an in-depth understanding of how they work. Others have been concerned about cryptos potential to devalue local currencies, as well as the lack of transparency around flow of funds. With one of the largest companies in the world is pushing a crypto product into their country regulators no longer have choice but to act. They will also have to work out ways to keep up. Facebook tends to self-regulate and, from the initial public communications, Libra will be no different. With regulators in most countries not yet having a specific crypto policy, it looks like the rest of the industry will now look to play by Facebooks rules. Story continues Investment and innovation There are big positives for the crypto industry in general as a result of this development. Firstly, the fact that such a huge tech company, like Facebook, is entering the market legitimises the concept in the eyes of the masses, so will switch current doubters into believers that this truly is the future of currency. Once this obstacle is overturned, there will be many more potential consumers pulled in with the Facebook tide. Secondly, with such a huge company now leading the charge, others such as Apple, which is becoming increasingly payment focused with Apple Pay, may look to replicate. Perhaps the likes of Google and Amazon will soon join in? It may well be the case that these newcomers will look to buy a ready made cryptocurrency, instead of developing their own product. This therefore creates innovation in the market, with investment to support the innovation. Combined with the changing legislative landscape, this will serve to create a radically different and exciting sector. All of this will, no doubt, be seen by some parties as a weakening of the core ideal of cryptocurrency. After 2008s economic challenges, Bitcoin developed as a way of taking control from the financial institutions that caused the problems and brought control back to the people. What is happening now is that the financial control is being transferred from financial corporations to tech corporations who, in the eyes of many, already have too much power and knowledge of their users. Observing how this plays out in a world that is increasingly trading personal data for convenience will be very interesting. I have said for years that Bitcoin, Ethereum and the like are essentially the Myspaces of crypto and that everyone is waiting for the Facebook of crypto to arrive. With the launch of a new digital currency by Facebook itself, it looks like that analogy may be more accurate than even I predicted. But we cannot know for sure only time will tell if Libra truly turns out to be the crypto that makes it to the payment mainstream. By VP of Europe for Processing.com , Matt Harrod The post Bitcoin is Myspace of the crypto world. Has its answer to Facebook finally arrived? appeared first on Coin Rivet .
[Random Sample of Social Media Buzz (last 60 days)]
But #litecoin, the future of digital Currency is here. 🔥 || @Travis_Kling As a bitcoin guy one really must support him. With his doings Trump is a real btc-evangelist. 🤗 || @AajKiDeals @googlechrome @CryptoTabnet This is bullshit, they are legit, i am mining bitcoin and have already withdrawn multiple times and my info hasnt been stolen. || $EPAZ's Bitcoin Sharing & Blockchain Social Media App Webbeeo Is In Alpha Testing Phase https://www.owltmarket || #blockchain #cryptocurrency #bitcoin #ethereum #ICO #P2PS #P2PSF #startup https://t.co/ph1WkFuejc || As Trump disses Libra, China could be learning from it - Inkstone: As Trump disses Libra, China could be learning from it Inkstone Donald Trump said he is not a fan of bitcoin and Facebook's proposed new digital currency, Libra. ... https://t.co/mT0DOvtZ1i https://t.co/1w0heQTHnF || Currently, the $crypto markets are a digital online money machine! Want to enter the markets and also be profitable?
#bitcoin #ethereum #altcoins
https://t.co/VQtFDB1ccJ || #Billionaire #entrepreneur #Mark #Cuban still has disdain for #gold and #Bitcoin. But in a #newly-#surfaced #interview with #Kitco, #Cuban says #Bitcoin’s fixed #supply gives it an advantage over the prominent #precious #metal.
https://t.co/Elg151R708 || $EPAZ's Bitcoin Sharing & Blockchain Social Media App Webbeeo Is In Alpha Testing Phase https://www.owltmarket || @DanRedus @realDonaldTrump Gold, silver&Bitcoin would be better.. Their purchasing power will skyrocket since its so rare.. You will be able to buy anything for very little.. Only about 1% of Americans have gold or silver & maybe .00000001% of the world owns bitcoin.
|
Trend: up || Prices: 10138.52, 10370.82, 10185.50, 9754.42, 9510.20, 9598.17, 9630.66, 9757.97, 10346.76, 10623.54
|
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 2016-02-17]
BTC Price: 416.32, BTC RSI: 61.65
Gold Price: 1211.10, Gold RSI: 67.58
Oil Price: 30.66, Oil RSI: 48.95
[Random Sample of News (last 60 days)]
16 Bold ETF Predictions for 2016: 2015 wasn’t exactly a great year for fund investors. A few choice companies dominated and left their competitors in the dust, making it a pretty poor year to be a sector investor. For example, stocks likeAmazon (AMZN)orNetflix (NFLX)more than doubled in 2015 while not a single major SPDR sector looks to finish the year with gains in excess of 11%.
However, 2016 looks to be a bit brighter, assuming of course it isn’t going to be a ‘stock picker’s market’ again in the New Year. Beyond that though, it looks to be another exciting and prosperous year for the ETF industry, and one that looks to see plenty of changes, as well as new funds. In terms of what specifically the New Year might hold, I offer up 16 predictions on what I think 2016 will hold for the world of ETFs, and what investors need to watch for in the New Year:
Hedged currency trend finally ends
One of the most annoying trends in 2015 has been the surge in every type of hedged currency ETF you could think of, be it half hedged, dynamic hedged, or Chinese currency hedged. While I think the dollar will strengthen a bit more, I think the second half of 2016 will see the flow of hedged ETFs slow to a trickle—if not an outright halt—as the dollar levels out and investors look elsewhere for gains in foreign markets (see Flurry of New Currency Hedged ETFs Fuels Price War ).
ETMFs Debut, but stumble out of the gate
Exchange Traded Mutual Funds are going to be a big buzzword in 2016 as companies like Eaton Vance look to launch this product type which seeks to provide the exchange-traded benefits of ETFs, with the closed-off holdings aspects of mutual funds to prevent front-running. While I think these will one day have a place in the fund world, they will stumble out of the gate as they confuse investors, unless of course big name players jump on this category and can bring their brand name following with them.
More specialized sectors funds look to catch fire, but struggle
After the insane rise of thecybersecurity ETF (HACK)in the past year, a number of ETF issuers are looking to strike it rich with similar products in the New Year. As of late, I have seen filings for e-commerce funds, 3D Printing ETFs, and an Internet of Things product, with all of them looking to catch fire like HACK did. However, HACK had a massive catalyst, and without that, the new funds will struggle for a bit to gain popularity in 2016 (see Invest in Booming Technologies with These 3 ETFs).
IWM will beat SPY in 2016
Large caps led the way in 2015, mostly thanks to incredible performances from well-known companies. I think this trend reverses in 2016 and we see a return of thesmall cap ETF (IWM)and its outperformance over its large cap counterparts in the New Year.
RSP will beat SPYin 2016
In that same vein, theequal weight S&P 500 fund (RSP)had long beaten its cap-focused counterpart,SPY. However, this trend ended in 2015 thanks to those surging mega cap securities. I am also looking for this trend to reverse in 2016 and to see a resurgence of equal weight product demand in general for the New Year as well.
Surge in duration hedged/negative duration ETF interest
A few years ago, hedged Japan ETFs (likeDXJ) hit the market and many thought they were too sophisticated for retail investors. However, as this turned out to be the best way to play the Japan story, investors of all stripes flocked to these products, making them ultra-popular choices in the Japan market. The same concerns are present now with hedged/negative duration bond funds and I think as interest rates rise these will have their time in the sun (by being the best bond ETF plays) and surge in popularity in 2016 ( Worried About Higher Interest Rates? Buy These 4 ETFs to Profit ).
Ex-sector funds hit $100 million under management
If 2016 is anything like 2015, we will see at least one major sector stumble. That is why I think the lineup from ProShares of ex-sector ETFs (ex-energy, ex-financials, ex-health care, and ex-technology) will finally surge in 2016 after languishing in anonymity for much of Q4 in 2015. With a year under their belt, these will finally see some interest from investors and will go from a combined AUM of under $20 million today, to a combined AUM of at least $100 million by year’s end.
New SPDR Select Sector ETFs hit $100 million in assets
State Street’s SPDR lineup has proven to be very popular, but the company recently launched two new products to round out its financial ETF offering;XLFS(focus on financial services) and XLRE (focus on real estate). Both of these made their debut in Q4 but haven’t really seen a surge in assets. I think this will change in 2016 as the interest rate picture becomes clearer, making at least one of them a $100 million product, up from roughly $16 million total right now.
Oil-free in 2016
The trend against oil investing will continue in 2016 and I think we will see at least a few more fossil-free funds hit the market as investors look to avoid this space in their portfolios. I also think we could see an oil-free bond ETF (or fossil free bond ETF) as issuers look to cash in on the trend against oil investments and over the concerns of defaults in the high yield market in this corner of the fixed income world (read Support the Environment and Profit with Fossil Fuel Free ETFs ).
ETF Closures Go Over 100 and Hit/Approach a Record
There are nearly 20 funds that have less than $1 million in assets under management, while about 300 have less than $5 million under management. There is basically no way these are profitable and I am sure we will see a host of closures in 2016 as the writing on the wall becomes clear for many of these strategies. This will make 2016 another big, if not the biggest, year for ETF closures on record.
Someone Will Close Down Too Early
The flip side of this is that a fund will close down too early. In 2016, I predict a fund will shut its doors only to see its segment go on to great popularity within the next few months. We saw this with FAA and the airline space (among others) and it is hard to discount the importance of timing in the ETF world right now, so look for this to happen to a country or sector fund in the New Year (see Finally a New Airline ETF Prepares to Take Off).
Two similar ETFs will launch within a one month window
You know when Hollywood launches two similar movies pretty close together (White House DownandOlympus Has FallenorA Bug’s LifeandAntzback in the day)? Well, the ETF industry likes to do that too, putting out funds that target pretty much the same area within a few weeks of each other. The idea is to dilute the first-mover advantage (or to race andbecomethe first mover) and I’d look for that trend to continue in 2016 at least once.
Wearable ETF hits the market (or at least a filing)
Thanks to the ubiquitous nature ofFitbit (FIT)and a boost in interest in all technology connected devices that are ‘wearable’, a number of companies are jumping into this market. As we saw in recent months with cyber security and cloud computing ETFs, I’d expect to see a wearable (ticker WEAR?) before too long, or at least a filing that will get this fund to market eventually.
Bitcoin fund finally comes out
For quite some time now, there has been a filing in the pipeline for a bitcoin ETF (COIN) from the Winklevoss twins of all people. The first filing was in 2013, an index was launched earlier in 2014, and I think 2016 will finally mark see this idea pass regulatory hurdles as well as the launch of this product which should help to make bitcoins more easily tradable and liquid for the masses, much like whatGLDdid for gold (read Believe It or Not: Winklevoss Bitcoin ETF on the Horizon ).
Price war continues
As the ETF space starts to round out, many ETF issuers have launched ‘me-too’ products which target substantially similar segments of the market. The way they differentiate has largely been on the price front and this has forced issuers to slash costs in order to remain competitive. This war has been great for consumers who look to save more money, and I expect to see more fee cuts and price competitive products in 2016 as well.
You’ll see more calls of an ETF Bubble… These will be wrong
Every couple of months, ETF pundits will write articles or go on TV saying that the end is near for the ETF world and that the category cannot support more products. These predictions have been wrong before and they will be wrong again in 2016. While there are a lot more ETFs than there were a few years ago, there is still plenty of more sector specific and active ETF opportunities out there, meaning that investors shouldn’t be worried about a bubble again in the New Year either (see Best and Worst ETFs of 2015).
Happy New Year and best of luck to fund investors in 2016!
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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 reportFITBIT INC (FIT): Free Stock Analysis ReportPURFDS-ISE CYBR (HACK): ETF Research ReportsISHARS-R 2000 (IWM): ETF Research ReportsSPDR-FS SELS (XLFS): ETF Research ReportsSPDR-SP 500 TR (SPY): ETF Research ReportsGUGG-SP5 EQ ETF (RSP): 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 || Celltick Partners With Cable & Wireless to Bring Startscreen to Android Devices: MIAMI, FL and SAN FRANCISCO, CA--(Marketwired - Jan 19, 2016) - Celltick , a global leader in mobile marketing announces a partnership with leading Caribbean and Latin American network provider, Cable & Wireless Communications (C&W) ( LSE : CWC ). C&W will provide a branded, localized and customized version of Celltick's Start on its android phones across its Caribbean and Latin American markets. Start provides users with an intelligent next-generation startscreen giving users what they want most when they wake up their phones. The Start platform learns from the way users operate their phone and provides convenient productive ways to enhance the intelligence of the device. C&W users will get a new startscreen on their android devices under the C&W brands -- Flow, LIME, Mas Movil and BTC. Users will be able to better utilize their phones and personalize their devices with stickers, interactive themes as well as play games on their first screen. "Through this partnership, our customers will now have the benefit of a much more personalized, interactive start screen on their mobile device that meets their specific individual needs," said John Reid, President of C&W's Consumer Group. C&W will provide users with local 'infotainments' such as news and weather, rapid access to social media feeds, web search, latest videos and more on the startscreen. "This underscores our ongoing commitment to continuously innovate and transform the total telecommunications experience across the region," added Reid. "We're excited to partner with Cable & Wireless across its 14 mobile markets to provide an enhanced user experience for their subscribers," said Fernando Bortman, GM CALA, Celltick. "The selection of Start by C&W highlights the innovative approach that we have taken in delighting consumers and the excellence of the product." Start's growing ecosystem includes hundreds of themes, plug-ins, stickers and lockgames. Celltick's Start has been adopted by over 40 large operators, OEMs and media companies who distribute over 100M devices around the globe. In 2014, Celltick powered billions of mobile-initiated commerce transactions for virtual and physical goods serving more than 150 million active consumers across 25 countries. 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 $2.4bn, 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 Celltick Celltick is a global leader in mobile marketing. Celltick's Start is a next generation personalized intelligent interface for Android devices. Celltick is unique in creating and managing mass market mobile marketing solutions for mobile operators, large media companies, device manufacturers and large brands. Celltick enables its partners to engage and monetize their users on the mobile. The company drives billions of transactions annually across more than 150 million active consumers across its different mobile platforms in over 25 countries. A rapidly growing company, Celltick has subsidiaries in Europe, Asia, South America and the U.S. For more information, visit www.celltick.com . || 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 ofhackenfreude, ironic isn't exactly the word I'd use to describe what happened.
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 companyMalwarebytescontacted 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.
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'sconsideredthe biggest malvertising attack so far).
October saw Angler targeting Daily Mail visitors through poisoned ads as well (monthly ad impressions64.4 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 alotin common.
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 theForbes 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] || 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) || Lead developer quits bitcoin saying it 'has failed': By Jemima Kelly LONDON (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 (BTC=ITBT) 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) || 6 trades to watch in an uncertain market: After U.S. stocks followed global markets lower Thursday, "Fast Money" traders outlined what they deemed safe plays to ride out uncertainty.
Major averages each closed down more than 2 percent, after a brief Chinese trading session in which a 7 percent drop in the CSI300 triggered a halt. Traders looked to longer-term plays that could offer protection through volatility.
Market Vectors Gold Miners ETF(NYSE Arca: GDX)
The price of gold(CEC:Commodities Exchange Centre: @GC.1), a traditional "safe haven" asset, climbed Thursday amid the uncertainty in stock and oil markets. The Market Vectors Gold Miners ETF rose more than 4 percent for the day.
Both traders Guy Adami and Brian Kelly said gold likely has more upside ahead.
iShares 20+ Year Treasury Bond ETF(NYSE Arca: TLT)
U.S. Treasury prices rose in choppy trading Thursday amid a flight to safer assets, sending yields lower. In that environment, the iShares 20+ Year Treasury Bond ETF could make a good play, said Adami and trader Dan Nathan.
Utilities Select Sector SPDR Fund(NYSE Arca: XLU)
Utilities offer a place to "hide" in current markets, said trader Steve Grasso. Nathan also identified them as a defensive play because of their dividend yields.
They looked to the Utilities Select Sector SPDR Fund, which fell slightly on Thursday.
Retail
Shares of department store chain Macy's(NYSE: M)climbed about 2 percent Thursday in the wake of a restructuring announcement. Adami believes the stock can rise even more.
Grasso also outlined possible strength in American Eagle Outfitters(NYSE: AEO).
Verizon(NYSE: VZ)
Nathan also saw Verizon as a possible play for investors looking for yield.
Disclosures:
Dan Nathan
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 QCOM feb calls, short SPY, Long UUP, long WMT puts
Steve Grasso
Steve Grasso is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MBLY, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long APC, CXO, OXY, BP, CVX, MCD, RIG, AMZN kids own EFA, EFG, EWJ, IJR, SPY
Brian Kelly
Brian Kelly is long BBRY, Bitcoin, GDX, GLD, Hong Kong Dollar, TLT, US Dollar; he is short British Pound, Euro, Yuan, Canadian Dollar, GSG, EEM, EWC, EWH, KRE, SPY, DB
Guy Adami
Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
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• Personal Finance || Flux Party seeks to be the bitcoin of Australian politics: By Matt Siegel
SYDNEY (Reuters) - A new Australian political party is using the virtual currency bitcoin as a model to replace what they say is an outdated political system - representative democracy - with a streamlined new polity for the information age.
The Flux Party says its goal is to elect six senators. They will propose no policies and will not follow their consciences, but will support or block legislation at the direction of their members, who can swap or trade their votes on every bill online.
"If they didn't have to be senators, if they could just be software or robots they would be, because their only purpose is to do what the people want them to do," Flux Party co-founder Max Kaye told Reuters in an interview.
Australia is set to hold an election in September or October after a period of turmoil that brought five prime ministers in as many years.
At the same time the upper house, which thanks to the quirks of its electoral system has a history of returning mavericks and fringe party candidates, has been hopelessly deadlocked by a handful of senators, at least one elected on less than 1 percent of the vote.
Prime Minister Malcolm Turnbull last week raised the possibility of calling an early poll to break the gridlock that has held up the government's legislative agenda.
That type of policy inertia is what bitcoin enthusiasts Kaye and Flux co-founder Nathan Spataro say inspired them to explore alternative systems that better represent the world of 2016.
Bitcoin is a web-based "cryptocurrency" used to move money around quickly and anonymously with no need for a central authority. The technology behind it is called the blockchain - a massive electronic ledger of every transaction that is verified and shared by a global network of computers.
To Spataro and Kaye, bitcoin is not just an alternative financial system: it is the missing link between representative democracy and Democracy 2.0.
"This ancient system we've got of representative democracy, which at the time liberated us from monarchies and was awesome, now we're at a point where it's become this monster," Spataro said.
"We're in a society now that's got the Internet and when democracy in its current form was conceived, you had to sail on a ship from England to get here. This model wasn't designed for this world."
"DELIGHTFULLY NAIVE"
Bitcoin's strength comes from its ability to build trust through ease of verification and by removing human frailty from the equation, said Dr. Adrian Lee, an expert on bitcoin at the University of Technology Sydney.
That makes what the Flux Party is proposing both unique and also potentially fraught.
"I haven't seen a party which would vote via blockchain," Lee said. "If you removed the politician and made it just a bitcoin machine, then maybe it would work but you can't do that," he said, noting the absence of a legally binding mechanism to make Flux senators vote as directed.
Although the party's architecture for calculating and distributing voters' wishes to their elected officials uses highly complex computer code, the overall idea is fairly simple.
Flux members and single-issue campaigners that agree to support the party at the election are allotted bitcoin-like tokens that they can use themselves, trade or give to experts or interest groups they trust to vote as their proxy.
Outcomes are distributed proportionately, so if 80 percent vote in favor of a bill and 20 against, five Flux senators vote yea and one nay.
Ministers are not often experts in their portfolio, and yet they are charged with making critical decisions on issues such as environmental or fiscal policy. Under their system, the Flux Party founders say, large blocs of voters could effectively grant their vote on such issues to a scientist or economist.
"You get sick, you go to the doctor, right? You don't self-diagnose and you don't go and call your plumber," Kaye said.
The Party filed its registration papers with the Australian Election Commission last month after obtaining the requisite support of at least 550 registered voters. Its website currently puts its membership at 1,009 people.
Attempting to apply the transformative power of the Internet to democratic systems is not a new one, said Peter Chen, a senior lecturer in politics at the University of Sydney, who called the Flux Party "delightfully naive people".
"They're just the modern version of something that's always been around: utopian political system designers," he said.
"They're obviously guys who are really focused on the tech thing and that has always been the problem with the e-democracy people. They're often really tech-driven and they need political scientists at the brainstorming floor to say 'well, I don't know if that'd work'."
(Reporting by Matt Siegel; Editing by Alex Richardson) || Flux Party seeks to be the bitcoin of Australian politics: By Matt Siegel SYDNEY (Reuters) - A new Australian political party is using the virtual currency bitcoin as a model to replace what they say is an outdated political system - representative democracy - with a streamlined new polity for the information age. The Flux Party says its goal is to elect six senators. They will propose no policies and will not follow their consciences, but will support or block legislation at the direction of their members, who can swap or trade their votes on every bill online. "If they didn't have to be senators, if they could just be software or robots they would be, because their only purpose is to do what the people want them to do," Flux Party co-founder Max Kaye told Reuters in an interview. Australia is set to hold an election in September or October after a period of turmoil that brought five prime ministers in as many years. At the same time the upper house, which thanks to the quirks of its electoral system has a history of returning mavericks and fringe party candidates, has been hopelessly deadlocked by a handful of senators, at least one elected on less than 1 percent of the vote. Prime Minister Malcolm Turnbull last week raised the possibility of calling an early poll to break the gridlock that has held up the government's legislative agenda. That type of policy inertia is what bitcoin enthusiasts Kaye and Flux co-founder Nathan Spataro say inspired them to explore alternative systems that better represent the world of 2016. Bitcoin is a web-based "cryptocurrency" used to move money around quickly and anonymously with no need for a central authority. The technology behind it is called the blockchain - a massive electronic ledger of every transaction that is verified and shared by a global network of computers. To Spataro and Kaye, bitcoin is not just an alternative financial system: it is the missing link between representative democracy and Democracy 2.0. "This ancient system we've got of representative democracy, which at the time liberated us from monarchies and was awesome, now we're at a point where it's become this monster," Spataro said. Story continues "We're in a society now that's got the Internet and when democracy in its current form was conceived, you had to sail on a ship from England to get here. This model wasn't designed for this world." "DELIGHTFULLY NAIVE" Bitcoin's strength comes from its ability to build trust through ease of verification and by removing human frailty from the equation, said Dr. Adrian Lee, an expert on bitcoin at the University of Technology Sydney. That makes what the Flux Party is proposing both unique and also potentially fraught. "I haven't seen a party which would vote via blockchain," Lee said. "If you removed the politician and made it just a bitcoin machine, then maybe it would work but you can't do that," he said, noting the absence of a legally binding mechanism to make Flux senators vote as directed. Although the party's architecture for calculating and distributing voters' wishes to their elected officials uses highly complex computer code, the overall idea is fairly simple. Flux members and single-issue campaigners that agree to support the party at the election are allotted bitcoin-like tokens that they can use themselves, trade or give to experts or interest groups they trust to vote as their proxy. Outcomes are distributed proportionately, so if 80 percent vote in favor of a bill and 20 against, five Flux senators vote yea and one nay. Ministers are not often experts in their portfolio, and yet they are charged with making critical decisions on issues such as environmental or fiscal policy. Under their system, the Flux Party founders say, large blocs of voters could effectively grant their vote on such issues to a scientist or economist. "You get sick, you go to the doctor, right? You don't self-diagnose and you don't go and call your plumber," Kaye said. The Party filed its registration papers with the Australian Election Commission last month after obtaining the requisite support of at least 550 registered voters. Its website currently puts its membership at 1,009 people. Attempting to apply the transformative power of the Internet to democratic systems is not a new one, said Peter Chen, a senior lecturer in politics at the University of Sydney, who called the Flux Party "delightfully naive people". "They're just the modern version of something that's always been around: utopian political system designers," he said. "They're obviously guys who are really focused on the tech thing and that has always been the problem with the e-democracy people. They're often really tech-driven and they need political scientists at the brainstorming floor to say 'well, I don't know if that'd work'." (Reporting by Matt Siegel; Editing by Alex Richardson) || Here's a sign that PayPal is embracing Bitcoin: PayPal was the hot new thing in payments when it launched in 1998, but in the era of digital currency, crowdfunding, micro-crowdfunding, and peer-to-peer lending, most people no longer see the company that way. So its newest board appointment is an effort to embrace the new landscape in digital payments.
To that end, PayPal (PYPL) has named Wences Casares to its board of directors, the company announced on Wednesday. Casares is founder and CEO of Xapo, a wallet provider for the digital currency bitcoin, and before Xapo he founded Lemon, another digital wallet company. He is an unusual addition to a board that includes executives from AT&T (T), the American Red Cross, Enzon Pharmaceuticals (ENZN), and eBay (EBAY) cofounder Pierre Omidyar.
It's likely a sign that PayPal is ready to embrace bitcoin and its technology. That's especially interesting considering that it is a company some bitcoin entrepreneurs often point to as "Web 1.0" and too slow because of its transfer delays and fees. One of the biggest selling points of bitcoin is the ability to send money to another country with little or no delay, and a fractional fee.
"We’ve entered a period of unprecedented disruption in payments and financial services driven by the mass adoption of mobile technology and the digitization of cash," said PayPal CEO Dan Schulmanin a statement. "Wences’ long and successful track record as international fintech entrepreneur with a focus on next-generation payment and crypto-currency is a perfect fit for PayPal at this time." PayPal declined to comment beyond the press release.
Casares does not come without controversy. He is a serial entrepreneur who founded an Argentinian brokerage in 1997 and sold it to Banco Santander in 2000 for $750 million. Then he founded a Chilean videogame developer in 2002 and sold it to Activision (ATVI) in 2006. But he is currently being sued by LifeLock (LOCK), a $1.3 billion public company that offers online-identity protection.
In December 2013 LifeLock acquired Casares's company Lemon for $42.6 million. In a lawsuit filed in August 2014, LifeLock says Casares built and launched Xapo, his current company, while working at Lemon, "developed by Lemon employees, in Lemon’s facilities, on Lemon’s computers, and on Lemon’s dime.” Casares and four Xapo employees (each of whom previously worked at Lemon) are named as defendants in LifeLock's suit. The company wants him to pay back “the value of the Xapo product attributable to Defendants’ misrepresentations, omissions, breaches of duty, and other wrongful conduct.” It does not specify an amount it is seeking, but assessing damages would involve placing a value on Xapo.
Meanwhile, Casares has fought back, filing a cross-complaint of his own this past July, alleging poor management by LifeLock. (And LifeLock itself was forced to pay a $12 million fine to the FTC this past summer for false advertising of its product.) Some in the bitcoin community believe that LifeLock is upset that it overpaid for Lemon, while Casares has moved on to Xapo, which has raised $40 million in venture capital and might have more promise than Lemon ever did.
What does all of this legal drama have to do with PayPal? Perhaps nothing—but if Casares is found guilty of the civil fraud that LifeLock alleges, it would be bad for not just Xapo, but now PayPal as well. Moreover, Fortunereported last yearthat some of Xapo's investors are angry that they were never made aware of the ongoing litigation against Casares.
So PayPal has taken a risk in appointing Casares to its board, not only because of his current legal situation, but on a broader scale it has more strongly associated itself with bitcoin, an industry that is not without its negative headlines. (Just this week, Ross Ulbricht, the mastermind of Silk Road, the online drug marketplace that used bitcoin as its form of payment, appealed his recent life sentence.) Just over one year ago, PayPal made partnerships with some prominent bitcoin startups, like BitPay and Coinbase, but the noise of that move has since died down.
PayPal now might want to explore a larger form of implementation around bitcoin, or it is intrigued by its underlying technology, the bitcoin blockchain, a public, decentralized ledger that records every single bitcoin transaction. Financial heavyweights like JPMorgan and Nasdaq have both expressed interest in harnessing the blockchain.
Or maybe PayPal wants to buy Xapo. || 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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[Random Sample of Social Media Buzz (last 60 days)]
$438.98 at 17:15 UTC [24h Range: $425.52 - $450.00 Volume: 22797 BTC] || #RDD / #BTC on the exchanges: Cryptsy: 0.00000005 Bittrex: 0.00000004 Average $1.8E-5 per #reddcoin 09:00:01 via #p…pic.twitter.com/xpxYhTS87m || $457.00 at 08:15 UTC [24h Range: $437.34 - $458.73 Volume: 9417 BTC] || In the last 10 mins, there were arb opps spanning 14 exchange pair(s), yielding profits ranging between $0.00 and $959.59 #bitcoin #btc || 1 #bitcoin 1282 TL, 430.905 $, 399.574 €, GBP, 30146.00 RUR, 52999 ¥, CNH, 600.00 CAD #btc || #UFOCoin #UFO $ 0.000011 (49.67 %) 0.00000003 BTC (50.00 %) || LIVE: Profit = $65.49 (4.78 %). BUY B3.60 @ $380.00 (#VirCurex). SELL @ $399.14 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org || 1 #bitcoin 1310 TL, 429.641 $, 400 €, GBP, 30501.52 RUR, 51948 ¥, CNH, 601.00 CAD #btc || Current price: 292.48£ $BTCGBP $btc #bitcoin 2016-01-13 07:00:04 GMT || LIVE: Profit = $177.72 (8.37 %). BUY B5.49 @ $410.00 (#VirCurex). SELL @ $417.60 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org
|
Trend: up || Prices: 422.37, 420.79, 437.16, 438.80, 437.75, 420.74, 424.95, 424.54, 432.15, 432.52
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2015-09-25]
BTC Price: 235.14, BTC RSI: 51.30
Gold Price: 1146.00, Gold RSI: 58.48
Oil Price: 45.70, Oil RSI: 51.31
[Random Sample of News (last 60 days)]
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 || 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. || SunGard And HSBC's Massive IT Glitches: Why Customers Freaked Out Last Friday: Last Friday, two major banks were reported to be experienced big IT problems, affecting thousands of customers.
HSBC Leaves Thousands Without Salaries
According to a recent Finextraarticle, a big tech issue surfaced on Friday morning when HSBC customers checking their account balances noticed their latest monthly salaries were not accounted for. Apparently, the glitch affected roughly 275,000 Bacs payments – Bacs is the system used for fund transfers in the UK.
Bacs released a statement assuring that it is "aware of an isolated issue that has affected one of its member organizations. The Bacs system is operating as normal and we [Bacs] are currently working with our partners to help them resolve this as quickly as possible."
Related Link:Barclays Becomes First Big UK Bank To Accept Bitcoin
The HSBC bank is owned byHSBC Holdings plc (ADR)(NYSE:HSBC), which fell 0.65 percent on Friday trading and continues to tumble on Monday.
BNY Mellon, Mispriced Funds Cause Panic
Another third-party service provider that had trouble on Friday is SunGard. It seems like its InvestOne system, used by custody bankBank of New York Mellon Corp(NYSE:BK) to price funds, failed on Friday, causing panic among the bank’s U.S. fund management clients.
The main fear was that the system failure had led to a mispricing of hundreds of funds “during a week of especially high market volatility,” another Finextraarticleexplained.
In a public statement, SunGard assured that, while they “are confident that no data was lost as a result of the incident, calculation and processing of net asset values (NAVs) of certain mutual funds and ETFs was disrupted."
They added that, despite the speculation, no “external or unauthorized systems access” had caused the glitch, which wasn’t a result of "recent turmoil in the equity markets” either. Instead, the issued derived from “an unforeseen complication resulting from an operating system change carried out by SunGard last Saturday.” SunGard pledges this was an isolated incident, and that it is now working with Bank of New York Mellon to resolve the problems caused.
Research firm Morningstar calculated that approximately 796 funds were missing NAVs as of Wednesday.
Image Credit: Public Domain
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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. || 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 [email protected] . 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 [email protected] 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 || Organic Food Goes Mainstream: Consumer preferences have shifted significantly over the past few years as more and more people opt for all-natural, healthy food options.
Healthy food used to make up just a small isle of little known brands in the supermarket, but the niche has made its way into popular culture and now even big brands are hopping on the organic food bandwagon.
Supermarkets
Whole Foods Market(NASDAQ:WFM) is a heavy-hitter when it comes to the natural foods space. The company has grown into a well known brand where health nuts pay a premium for the best ingredients and most natural foods. However, as interest in health foods grew, so did the number of competitors.
Other specialty grocers likeSprouts(NASDAQ:SFM) andNatural Grocers(NYSE:NGVC) are expanding quickly and looking to increase their slice of the organic pie.
New Entrants
While new entrants in the organic foods business used to be mom and pop businesses that were working their way up, today's natural foods isle is filled with products backed by big name companies who are shifting their approach in order to attract health-conscious consumers.
Tyson Foods(NYSE:TSN) promised to stop using chicken that had been treated with antibiotics andKraft Foods(NASDAQ:KRFT) has removed artificial dyes from its well-known Mac & Cheese in an effort to appeal to the organic-obsessed public.
Bigger Not Always Better
However, the big brands aren't always able to appeal to health nuts the way smaller brands are. AfterKellogg Company(NYSE:K) acquired the Kashi brand in 2000, the healthy cereal maker went steadily downhill.
Customers discovered that Kellogg was using genetically modified ingredients and a social media campaign against the brand ensued. Now, Kellogg isworking to restoreKashi's image with innovative new cereals and a new marketing approach, but it is likely to be a rocky road back into consumers' good graces.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || WeedLife Steps Up To Fill Marijuana Advertising Gap: The marijuana industry has grown exponentially over the past decade as more and more states legalize the drug for both medicinal and recreational use. However, cannabis-based firms are extremely limited when it comes to getting their names out there as state and federal laws prohibit most forms of advertising.
Companies likeGoogle Inc(NASDAQ:GOOG) andYahoo! Inc.(NASDAQ:YHOO) are reluctant to engage with marijuana-related firms, leaving very few options for a pot company trying to get noticed. Advertising regulations for marijuana firms are stricter than that of tobacco and alcohol, making it difficult for dispensaries to reach their target audiences.
Related Link:Surprised? Marijuana Use On The Rise At College Campuses
Working Together
TheWeedLife Networkis hoping to fill that gap by opening its network to allow legal marijuana advertising. WeedLife Network is a collection of over 40 different websites and apps for marijuana businesses and consumers that generates over 4.5 million page views each month.
The company hopes that by expanding its network to include marijuana-based advertisers, it will help propel the industry further by giving cannabis startups the tools they need to reach their customers.
The Google Of Marijuana
WeedLife Network co-founder Shawn Tapp said he hopes this new offering will draw in new businesses who are struggling to gain exposure. Tapp said that WeedLife will "aim to be the industry's replacement for Google's AdWords." The network will give businesses an easy way to reach their target audience as it already encompasses businesses and consumers interested in the marijuana industry.
See more from Benzinga
• Apple Aims To Read Your Mind
• Is Europe The New Home For Bitcoin?
• U.S. Tech Firms Hope To Have A Say In New EU Digital Market Rules
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Fed Stuck In The Middle Of Marijuana Debate: One of the major issues plaguing the United States' newly developing marijuana industry has been banking. Although President Barack Obama has granted states the right to determine their own marijuana laws, the substance is still classed as illegal in the federal government's eyes. For that reason, banks bound by federal law have been unable to engage with marijuana firms even in states where the drug is legal.
Fed Lawsuit
Last week, Colorado's Fourth Corner Credit Unionsuedthe Kansas City Fed after its application for federal insurance was rejected. The credit union was denied a routing number in order to set up its master account, meaning that Fourth Corner would be unable to operate. The firm said the Fed's decision to reject Fourth Corner is an unreasonable restraint of trade and commerce and that the credit union's receipt of a state charter should have given it access to federal insurance.
Fed Pushes Back
The Fed has argued that it has the right to use its own discretion when it comes to opening new master accounts. The bank claims it was unable to accurately asses the risks associated with Fourth Corner's business and therefore is allowed to reject the application.
Conflicting Laws
The legal battle underscored the pitfalls of conflicting laws at the federal and state level. While legalization efforts have been successful in many states across the US, the banking issue will likely continue to plague the industry as long as federal law continues to class marijuana as illegal.
See more from Benzinga
• Australian Government Takes Steps Toward Becoming A Bitcoin-Friendly Nation
• Tech Firms Gear Up For 2016 Presidential Race
• Are Tethered Drones The Answer To Safety Concerns?
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Medical Marijuana May Help Transplant Patients: In recent years, the use case for marijuana for medicinal reasons has expanded exponentially. As the drug becomes widely accepted across the US, more research has been done to better understand the effects of marijuana on certain ailments.
Everything from Alzheimer's to Epilepsy is said to benefit from the components of a marijuana plant and now a newstudyshows that the drug which has long disqualified patients from receiving a transplant could actually aid in their recovery.
Mouse Study
Scientists at the University of South Carolina have found that Tetrahyrodcannabinol, the psychoactive component of marijuana, may help to delay the rejection of organs in transplant patients. The study examined the effects of THC on mice that received skin grafts and found that those exposed to the drug were better able to accept a foreign graft.
Related Link:Marijuana-Specific Doctors Can Make It Difficult To Take Medical Marijuana Seriously
New Uses
Based on this data, scientists believe that THC suppresses a patient's immune response, something that could prove beneficial for transplant patients or those struggling with other inflammatory diseases. For marijuana supporters, the data represents another reason why federal laws should be relaxed in order to make studies like this one more accessible.
Still Some Concerns
Much like many other studies touting the effectiveness of marijuana treatments, the scientists at the University of South Carolina cautioned that the results don't tell the whole story. So much is unknown about how marijuana affects the human body that the possibility of using THC in this capacity for humans any time soon is slim. However, it illuminates a new use case and will likely encourage researchers to continue finding ways to use marijuana components to fight illnesses and improve patients' quality of life.
See more from Benzinga
• Netflix Viewing Stats Reveal That All Shows Aren't Created Equally
• Charlie Shrem Weighs In On Bitcoin From His Prison Cell
• China's Weakness Isn't All Bad
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoins In This ETF Not What It Seems: Yesterdays surprise news that the ARK Web x.0 ETF (ARKW | D-30) will start including bitcoins is a bit of a headscratcher to me. There are issues on a few levels that I have with this announcement. Lets take them in order: Why Now? Marketing Success I get the allure of Ark trying to make some noise in its flagship fund. Launched in October of last year, ARKW has struggled to find a footing, and has just $12 million in assets at the moment. Its also really suffered from on-screen liquidity problems, with less than a few thousand shares trading hands every day. But the thing is, I cant help but root for it. Its not crazy that its failed to find tractionits actively managed. And like most actively managed funds, it needs time to develop a track record before core ETF buyers, like financial advisors, will be willing to take the leap of faith. Its about to come up on its one-year anniversary, and the truth is, its actually done very well versus broader-based tech funds. Consider the ~5 percent gap its opened up on the more broadly diversified iShares US Technology ETF (IYW | A-96) in just under a year: Heck, the fund has even outperformed the biggest ETF launch of the year, the PureFunds ISE Cyber Security ETF (HACK | C- 31) . So, as much as I think the fund probably deserves more attention than its received so far from investors, I cant help but think the timing of the bitcoin announcement is slightly set to mark the one-year anniversary and crow-able performance. Its Not Really Bitcoins The timing might make sense. Im a bit more skeptical about the way in which its tackling bitcoins. When I read the press release, my first thought was that someone was stealing the march on the Winklevoss brothers upcoming Winklevoss Bitcoin Trust ETF (COIN) ETFan actual ETF in registration that would solely invest in bitcoins. That ETF has been hung up at the SEC since filing, and theres no word on when it may come out. But Ark isntinstead, its investing in a company listed on the OTC pink sheetsthe Bitcoin Investment Trust, which you can find on OTC under the ticker GTBC. GTBC is a strange beast. On the surface, it looks like a closed-end fundaccredited investors can petition authorized participants to create or redeem shares in 100-share baskets in a process clearly based on the fundamental precepts of how ETFs work. Story continues But let me be perfectly clear: It may look like a duck, and quack like a duck, but GTBC aint no duck. Its essentially entirely unregulated by the SEC. In fact, the whole reason Ark can get away with this quasi-ETF-like structure is precisely because the SEC hasnt even decided what bitcoins are yet. GTBCs own disclosure documents include this little sword of Damocles: To the extent that bitcoins are deemed to fall within the definition of a security for SEC purposes, the Trust and the Sponsor may be required to register and comply with additional regulation under the Investment Company Act of 1940. Moreover, the Sponsor may be required to register as an investment adviser under the Investment Adviser Act of 1940 and register the Trust as an investment company. Such additional registrations may result in extraordinary, recurring and/or non-recurring expenses of the Trust, thereby materially and adversely impacting the Shares. To translate that into Human: As soon as the SEC decides what bitcoins actually are, GTBC may get slammed with expenses or have to close. Even if you love Internet stocks, theres an enormous difference between investing in a small-cap startup company and investing in an essentially unregulated entity that may have to close precisely when bitcoins themselves graduate into the big leagues at some point in the future. If that werent bad enough, the connection between the underlying net asset value of the bitcoins in GTBC and the trading price is tenuous at best. This chart comes right from GTBCs own websitesince GTBC started trading on the pink sheets, the actual traded price has born little resemblance to the performance of bitcoins themselves (the blue NAV line itself), at times swinging wildly up or down seemingly in no relation. From ARKWs perspective, this may not matter in the long run, as I imagine it will be able to create and redeem through the AP process set up by GTBC. But day-to-day, I dont see how the value of that investmentand thus your exposure as an investorwont be tied to the somewhat-capricious price of GTBC on the bulletin board. And Then Theres Bitcoin I admit it, Im a full-on nerd. I play board games. I love my iPhone and my running gadgets and my voice-activated radio in the kitchen. So I love the idea of bitcoin. I love the idea of an unregulated currency that actually functions a little like gold-backed currencies were supposed to. But the problem with bitcoin remains one of chicken-and-egg. Until I can get paid in it, and pay my mortgage with it, and buy my groceries with it, it just remains a speculative bet on an intermediate value store. Fundamentally, its no different than goldit has value because lots of people think it should have value and want to use it to store value. And thats why you end up with charts like this one: Thats the value of a single bitcoin as reported by coindesk.com. And just like charts of gold, bitcoin has had its crazy hazy days (2014), and its had its rapid declines (2014). But here in the fall of 2015, I remain skeptical. For every announcement about a new vendor accepting bitcoin, theres one about some startup thats lost its way . Toe In The Water? In the end, I suspect the actual positions inside ARKW will be relatively small at first. I also suspect that when and if COIN comes to market, it will be the vastly preferred vehicle for such exposure, as the pink-sheet, unregulated nature of GTBC gives me genuine pause. As ARKW is actively managed, the decision to add bitcoin now has to be seen as a tactical one, and as such, in a year, well be able to look back and consider it a brilliant move, or a terrible one. Id say grab the popcorn, but Im not sure the popcorn guy takes bitcoin yet. At the time of writing, the author held no positions in the securities mentioned. You can reach Dave Nadig at [email protected] , or on Twitter @DaveNadig. Recommended stories Bitcoins Officially Deemed A Commodity Bitcoins In This ETF Not What It Seems Bitcoins Now Available In ETF Wrapper Options For Both Sides Of China Fund FXI 5 Views On Chinas Currency Intervention Permalink | © Copyright 2015 ETF.com. All rights reserved
[Random Sample of Social Media Buzz (last 60 days)]
Bitcoin traded at $278.99 USD on BTC-e at 04:00 AM Pacific Time || buysellbitco.in #bitcoin price in INR, Buy : 17644.00 INR Sell : 17087.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || In the last hour, 8 people won 1.00 BTC playing Bitcoin lottery at http://10xbtc.com , the easiest BTC lottery, 160BTC Jackpot || Current price: 147.53£ $BTCGBP $btc #bitcoin 2015-08-23 14:00:02 BST || Current price: 258.74$ $BTCUSD $btc #bitcoin 2015-08-16 10:00:03 EDT || In the last 10 mins, there were arb opps spanning 21 exchange pair(s), yielding profits ranging between $0.00 and $1,536.56 #bitcoin #btc || 1 #bitcoin 669.52 TL, 223.474 $, 206.16 €, GBP, 15521.00 RUR, 28000 ¥, CNH, 300.29 CAD #btc || In the last 10 mins, there were arb opps spanning 19 exchange pair(s), yielding profits ranging between $0.00 and $159.98 #bitcoin #btc || 1 #bitcoin 696.04 TL, 227.137 $, 196.26 €, GBP, 15300.00 RUR, 28126 ¥, CNH, 302.5 CAD #btc || buysellbitco.in #bitcoin price in INR, Buy : 18082.00 INR Sell : 17528.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin
|
Trend: up || Prices: 234.34, 232.76, 239.14, 236.69, 236.06, 237.55, 237.29, 238.73, 238.26, 240.38
|
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 2021-03-31]
BTC Price: 58918.83, BTC RSI: 60.72
Gold Price: 1713.80, Gold RSI: 43.53
Oil Price: 59.16, Oil RSI: 45.24
[Random Sample of News (last 60 days)]
GLOBAL MARKETS-Global equities rise as U.S. bond yield fears ease: (Adds close of U.S. markets)
* Fed chair again eases concerns about inflation
* Yield on 10-year Treasury jumps to 1.435%
* Dow hits record high, big tech still losers
* GameStop doubles in price in frenzy trade
* Reuters Live Markets blog:
* Graphic: Global asset performance http://tmsnrt.rs/2yaDPgn
* Graphic: World FX rates http://tmsnrt.rs/2egbfVh
By Herbert Lash
NEW YORK, Feb 24 (Reuters) - A gauge of global equity markets rose on Wednesday after Federal Reserve Chair Jerome Powell said interest rates will remain low, calming market jitters sparked by a jump in U.S. Treasury yields on fears that a robust recovery would drive inflation higher.
Sales of new U.S. single-family homes increased more than expected in January as the median sale price rose 5.3% on a year-over-year basis, the latest data to show certain consumer prices are rising faster than expected.
Crude oil rose more than 2% to fresh 13-month highs while gold prices struggled for traction as elevated Treasury yields eroded the allure of bullion as an inflation hedge.
The dollar slid to multi-year lows against the pound and commodity-linked currencies including the Canadian, Australian and New Zealand dollars, as they are expected to benefit from a pick-up in global trade as world growth rebounds.
MSCI's all-country world index, a gauge of equity markets in 49 countries, added 0.30%, as rising stocks on Wall Street pushed the global benchmark to reverse early losses.
Progress in the rollout of coronavirus vaccines, which was boosted by news that Johnson & Johnson's one-shot vaccine appeared safe and effective, has increased economic optimism but also inflation concerns, said Patrick Leary, chief market strategist and senior trader at Incapital in Minneapolis.
"If you look at commodity prices, you look at real estate prices and you look at energy prices, they're up significantly higher than even pre-pandemic levels," Leary said.
In testimony before the U.S. House of Representatives Financial Services Committee, Powell reiterated the Fed's promise to get the American economy back to full employment and to not worry about inflation unless prices rise in a persistent and troubling way.
While rising yields give stock investors pause, the Fed is "pretty comfortable" with them as they take some of the froth out of the financial system, Leary said.
The 10-year U.S. Treasury note rose almost 1 basis point to yield 1.3722% after hitting 1.435% earlier. The benchmark Treasury yield traded at 0.912% at the end of 2020.
The sliding of 10-year Treasury yields below the 1.4% mark helped equity markets rebound from early losses, but the rotation out of technology stocks continued, with Amazon.com Inc and Apple Inc leading Wall Street lower. In Europe, the tech sector has lost nearly 4% this week.
The Dow Jones industrial average set a record high, rising 1.35%. The S&P 500 gained 1.14% and the Nasdaq Composite advanced 0.99%.
GameStop Corp stock, at the center of volatile moves in late January as its shares were talked about on a Reddit forum, more than doubled in price in late trading, and continued to soar in post-market trade in heavy trade.
Europe's broad FTSEurofirst 300 index closed up 0.4% at 1,590.09 after earlier trading lower on inflation fears.
The benchmark 10-year German Bund was steady after yields jumped on Tuesday.
A sharp rise in real bond yields in line with those seen during previous "bond tantrum episodes" would reduce the upside potential for European equities, BofA Global Research said.
Sectors set to benefit from a stronger economy were supported by German GDP data, as exports and solid construction activity helped Europe's biggest economy to grow by a better-than-expected 0.3% in the fourth quarter.
Germany's DAX rose 0.8%.
Falling tech stocks, which are sensitive to rising yields, pulled Asian markets lower overnight.
Bitcoin traded little changed, down 0.3% at $48,720.00.
The dollar index fell 0.063%, with the euro up 0.12% to $1.2164. The Japanese yen weakened 0.59% versus the greenback to 105.86 per dollar.
Oil prices rose after U.S. government data showed a drop in crude output after a deep freeze disrupted production last week.
Brent crude futures settled up $1.67 at $67.04 a barrel, while U.S. crude futures rose $1.55 to settle at $63.22 a barrel.
Brent and U.S. West Texas Intermediate (WTI) crude futures have both risen by about 28% so far in 2021.
U.S. gold futures settled down 0.4% at $1,797.90 an ounce.
(Reporting by Herbert Lash, additional reporting by Elizabeth Howcroft in London; Editing by Will Dunham, Chizu Nomiyama, Kirsten Donovan and Paul Simao) || “Bitcoin for Good” initiative by Southeast Asia’s first Bitcoin fund, pledges financial support to the Blockchain Commission to advance the role of Blockchain in global humanitarian efforts: Southeast Asia’s first insurance-backed Bitcoin fund, BCMG Genesis Bitcoin Fund-I (BGBF-I), has pledged a financial commitment of 5% from its annual performance into the Blockchain Commission’s Blockchain for Impact Giving Fund, managed by the PVBLIC Foundation and the Global Partnerships Forum.
Singapore , March 24, 2021 (GLOBE NEWSWIRE) --The Memorandum of Understanding (MOU) has been signed virtually on March 11th, 2021, during the ‘Global Launch of BGBF-I: World Safest Way to Grow Your Bitcoins’ Webinar, between all parties.
“We congratulate the founders of BGBF-I for their vision to support sustainable development. The SDGs require all hands on deck, and the platform offers the opportunity to accelerate progress on the 2030 Agenda for Sustainable Development. We applaud BGBF-I for their foresight and humanitarian mission,” said Amir Dossal, President & CEO, Global Partnerships Forum, Co-Founder and Vice Chair, Blockchain Commission for Sustainable Development.
BGBF-I and the Blockchain Commission share common goals in the blockchain sector and together will contribute to developing these technologies. The partnership will help manage collaborative convenings, build technology solutions, engage Sustainable Development Goals (SDGs) ecosystem leaders, and improve digital cooperation across the world to advance SDGs using blockchain technologies.
As part of its ongoing commitment towards sustainable development, the leadership of BGBF-I will support projects that utilize blockchain technologies to address some of the gaps in our society. It will support programs and initiatives to advance the work of the Blockchain Commission for Sustainable Development and promote the expansion and availability of digital health and wellness services, in line with SDG3 (Ensuring healthy lives and promoting well-being at all ages.)
“We are honored to be working with the Blockchain Commission on this initiative. This platform gives us an opportunity to extend our Bitcoin for good aspirations, and we look forward to exploring ways this partnership will help to rebuild a post-pandemic world,” said Dr. Vin Menon, the BGBF-I Co-Founder, about the partnership.
This partnership isn’t a first for the team behind BGBF-I who has previously worked with UN-related organizations for Bamboo, a powerful and successful blockchain and Artificial Intelligence (AI) -based platform established to help South East Asian citizens take control of their well-being and health, as well as tackle the government’s inefficient welfare and legal systems. Bamboo was praised for its efforts to help reduce health issues by taking a ‘prevention is better than a cure’ approach.
BGBF-I’s efforts are in complete alignment with the United Nations Sustainable Development Goals (SDGs) that tackle global issues such as poverty, education, health, hunger, water, and more. The SDGs cover various severe matters that affect millions and aim to improve them through long-term plans following a blueprint for peace and prosperity for people and the planet.
“Through BGBF-I, commitment to support the Blockchain Commission, we can build programs focused on increasing awareness of the applications that blockchain technology can have to advance sustainable development and social impact, ultimately contributing to global humanitarian efforts and achieving SDGs” said Sergio Fernandez de Cordova, Executive Chairman of the PVBLIC Foundation.
The fund aims to create a private-public partnership model towards active citizenry following the global damage that has impacted the world since the COVID-19 virus outbreak, and global lockdowns which have affected the economy, increased poverty and rattled the health system. The pandemic has highlighted the need for more companies to contribute to sustainable growth and further encourages BGBF-I’s drive to be an integral part of that change.
Beyond the financial support, BGBF-I will also be providing ‘Thought Leadership and Advisory’ to the Blockchain Commission, and it also aims to spearhead efforts from the blockchain industry to support this initiative through expertise and resource allocations.
Interested investors, partners, and collaborators can learn more about BGBF-I on the official website:www.bgbf1.com
BGBF-I
BCMG Genesis Bitcoin Fund-I (BGBF-I) is South East Asia’s first insured Bitcoin fund with full regulation from Labuan, Malaysia. BGBF-I was founded to utilize the most established crypto asset in the world, Bitcoin, and leverage on its progress and the market-cap it holds. With robust security and insurance coverage and underwriting for Public Offering Security Insurance (POSI), the fund offers a new security level for Bitcoin investments.
The Blockchain Commission for Sustainable Development
The Blockchain Commission for Sustainable Development was established during the 72nd Session of the United Nations General Assembly in 2017 to develop a multi-sectoral framework to support the UN system -- along with the Member States, Intergovernmental Organizations, the private sector, and civil society -- in utilizing blockchain-based technologies to develop local, national, and global solutions for the most pressing issues of our day.
PVBLIC Foundation
The PVBLIC Foundation is an innovative foundation that mobilizes media, data, and technology for sustainable development and social impact worldwide. The Foundation serves as a bridge between public, private, and nonprofit sectors, plugging innovations into social agendas and helping governments, NGOs, and intergovernmental organizations amplify their impact through original programs, creative partnerships, and strategic donor funds. Driven by the idea of creating a modern “public square”, the foundation has managed programs and partnerships that have reached more than a billion people in 125 countries and inspired global action on the SDGs.
The Global Partnerships Forum
The Global Partnerships Forum is a unique 501(c)(3) not-for-profit knowledge platform, providing changemakers with the tools to build innovative partnerships. It convenes thought leaders, policymakers, entrepreneurs, philanthropists, and investors to address global challenges and foster economic growth by moving the needle from aid to investment.
For the original news story, please visithttps://www.prdistribution.com/news/bitcoin-for-good-initiative-by-southeast-asia-s-first-bitcoin-fund-pledges-financial-support-to-the-blockchain-commission-to-advance-the-role-of-blockchain-in-global-humanitarian-efforts.html
CONTACT: BCM Guru PTE LTD - Media Name: Kate A., Media Phone: +35796545566 Media Email: [email protected] || What's Moving The Market Monday?: Top News AstraZeneca's (NASDAQ: AZN ) COVID-19 vaccine will no longer be administered in Germany, following reports of recipients being taken ill. Italy, Spain, Cyprus and France also suspended the AstraZeneca vaccine, pending review. The European Medicines Agency said they will continue their investigation into the AstraZeneca vaccine issues. The World Health Organization's Chief Scientist said they have not found an association between thromboembolic events and AstraZeneca vaccine. China asked Alibaba (NYSE: BABA ) to divest the company's media assets, as Chinese officials are concerned about the company's sway over public opinion. Indices Around The Globe S&P 500 Futures marked a new all time high, at 3,960.25 UK's FTSE 100 down 0.17% to near 6,749. Japan's Nikkei 225 up 0.17% to near 29,766. Bonds 10-year treasury yield at 1.60%. Commodities Crude oil down 0.26% to near $65.44/barrel. Gold up 0.57% to near $1,729/oz. Silver up 1.60% to near $26.32/oz. Crypto Bitcoin down 5.54% over the last 24 hours to near $56,573. Preview For Tuesday, March 16 NY Empire State Manufacturing Index - 5:30 a.m. EST Eastman Kodak (NYSE: KODK ) to report Q4 earnings, Tuesday, after the close. CrowdStrike (NASDAQ: CRWD ) to report Q4 earnings, Tuesday, after the close. See more from Benzinga Click here for options trades from Benzinga What's Moving The Market Friday? What's Moving The Market Thursday? © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || SmartCard Marketing Systems Inc. (OTC:SMKG) OriginatorX Underway in Ethereum Blockchain and Offerings for Both Fungible and Popular “NFT” Non-Fungible Tokens Market: ETHEREUM NFT MARKET IS EXPECTED TO BOOM IN 2021 New York, NY, March 09, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- SmartCard Marketing Systems Inc (OTC:SMKG): What are Fungible and Non-Fungible Tokens? In the digital world, items/products / services can be sold, purchased and owned by one or more individuals. When it comes to Fungible tokens in terms of goods/services/products are being contracted without an individual specimen being specified. They are replaceable by another identical item, mutually interchangeable, and can be traded and their value remains constant. Fungibility is the ability of a good or asset to be interchanged with other individual goods or assets of the same type. Fungible assets simplify the exchange and trade processes, as fungibility implies equal value between the assets. For example: A Dollar can be traded or exchanged for the product or services of its value. In this case Dollar is easily replaceable and exchangeable by anyone who wishes to enter a trade. NFT or Non - Fungible Tokens on the other hand are cryptocurrency assets on blockchain with unique identification codes and metadata that distinguish them from each other and cannot be traded or exchanged at equivalency. It represents a wide range of unique items, both physical and virtual like real estate or digital art. Ownership of a Movie ticket / Flight Ticket is an example of Non-Fungible Token. Digital Art created by someone is a Non-Fungible token, you can create duplicate copies of this digital art, however, the owner will always remain the same. In today’s digital era, artists creating a digital piece are not benefitted as much for their creativity as they deserve since the creativity can easily be duplicated / copied. NFT safeguards the interest of such individuals and ensures that the ownership of the asset remains with the Artist and when it is traded, the owner of the asset gets a 10% cut of the artwork. With NFT, individuals can create, license, own, and control the distribution of their digital content and make money on sales and royalties. Story continues There are multiple options in the market that deals with Fungible Tokens and NFT. The choice seems difficult when choosing the best option. We at Smartcard Marketing Systems Inc. (OTC:SMKG) like to highlight a few key pointers which you need to keep in mind while making a choice: 1. Easy ekyc & kyb onboarding of Individuals / Businesses 2. Authentication and verification of Individuals / Businesses 3. Creating Ethereum and Digital Wallets 4. Setting Smart-Contracts Auctions 5. Trade ready 6. Global Payment Rails Smartcard Marketing Systems Inc. (OTC:SMKG) with its platform OriginatorX is a simple to use platform with an ability to underwrite, issue and trade in both Fungible and Non-Fungible assets. The platform allows you to set an Ethereum and Digital wallet to store your Crypto Currency securely and enables the NFT trading. The Company is excited with this offering as it is combined with their 16 proprietary platforms and is disrupting the industry. Axepay - a digital payment rail, FX Trading and digital wallet platform enables an individual / Merchant / FI's to trade their Fungible and NFT tokens globally at ease. With more than 200+ countries presence this becomes easy for a larger audience to participate which ultimately enables the company to access treasury payments making it easy to send or receive funds. With Granularchain - a permission based digital onboarding and authentication platform also by SMKG - individuals, Merchants / FI's can now easily onboard their clients, create unique digital ID keys and can ensure authentication with Video eKYC, KYC & KYB. Granularchain allows individuals / Companies to create product or service specific smart contracts specific to their Fungible or NFT needs and start trading in less than 5 minutes. While with trading, the added feature enables FI's to check the AML verification before they deal with anyone ensuring smooth and steady future growth. QR guru - an online e-commerce platform for businesses also part of the SMKG suite, offers a digital product library which may be listed by individuals and companies, and sold with the NFT terms in place. While the NFT market tripled in 2020 to $250+ million, it is only started to grow and is expected to the future Stats and info link: What Is a Non-Fungible Token (NFT)? | CoinMarketCap What Are Fungible Tokens? Fungible tokens are tokens that are tradable for each other, and their value remains constant. In the above example, Bitcoin is a fungible token because it has the same value regardless of its owner or history. Characteristics of Non-Fungible Tokens Rare – The value of NFTs comes from their scarcity . Although NFT developers can create any amount of non-fungible tokens, they often limit the tokens to increase rarity. Indivisible – Although not set in stone, most non-fungible tokens are indivisible into smaller units. You either purchase the entire amount of, say, a digital art piece, or purchase no art at all. Unique – This is perhaps the most significant characteristic of them all. NFTs have a permanent information tab that records their uniqueness. Think of this information as a certificate of authenticity. The company CEO, Massimo Barone, stated, “We are very excited with the opportunity to collaborate and deploy our technology portfolio through the industry verticals and the flexibility these applications offer combined with the recently added Teleconferencing segment with the joint venture launch of JetWebinar now integrated, new opportunities to cater end-to-end channels with our Payment Applications and Digital Workforce solutions are accelerating.” About us SmartCard Marketing Systems Inc (OTC:SMKG) is an industry leader in specialized industry e-commerce, cloud and mobility applications to the global PayTech and FinTech markets. SMKG is an entrepreneurial boutique technology company, providing business intelligence and digital transformation strategies with a proprietary portfolio of applications and wireframes for banking, enterprises, retail e-wallets, digital id, blockchain, e-KYC, digital workforce, events management, education, telemedicine and ride-booking industries. For more info visit www.smartcardmarketingsystems.com or visit our business applications marketplace at www.Emphasispay.com . We seek a safe harbor. CONTACT: Massimo Barone CEO [email protected] SmartCard Marketing Systems Inc. OTC:SMKG Ph: 1-844-843-7296 [email protected] || The Node: Biden’s Grid Plans Can Clean Bitcoin: My brother posed a tough question on Zoom recently.
How could I, as someone working in the cryptocurrency industry, justify bitcoin’s energy footprint in the age of climate change?
Didn’t I used to write about global warming and the dangers it poses? (I did).
Related:Payments Firm Wirex Pauses New Customer Onboarding on FCA Orders
A lot of people are having some version of this discussion at the moment.
WithBTC’s price rising and lots of green-minded VIPs, like Elon Musk, endorsing the idea, the long-running bitcoin energy debate is seeing new life.
I replied as many people working in bitcoin do: It’s not as bad as the mainstream media says. The fiat money system also uses a lot of energy. It’s going to get cleaner as renewables come online.
Related:Chainlink Integration Connects Filecoin to Smart Contract-Enabled Blockchains
See also: Nic Carter –The Frustrating, Maddening, All-Consuming Bitcoin Energy Debate
Later, I wished I’d framed it differently.
What I really think is 1) bitcoin is currently dirty but ultimatelyworth itand 2) technology will fix the problem. Let me explain.
Bitcoin is worth it because it is a fundamental innovation with many uses in itself and for humanity at large. Shutting it down now, as some would like to do for climate reasons, would be like stopping car development with the Model T. You have to give it time.
Technology will fix the problem because that’s what technology does. In fact, it might already be happening.
As CoinDesk’s Michael Caseywrote last week, there are lots of promising experiments underway to co-locate bitcoin mining with renewable energy production, funding the latter while cleaning up the former. Even more interestingly, bitcoin has potential as a “money battery,” soaking up excess renewable power where it can’t be consumed and transferring it to where it can be used effectively.
Nick Grossman, of Union Square Ventures, posted a nicewrite-up of the battery conceptover the weekend. In closing, he wrote:
I believe the properties of bitcoin’s battery are powerful and profound, and will lead to the kinds of solutions I point to here. And as we have learned from our experience with this technology so far, that’s certainly only the beginning of what will be possible.
Exactly.
The takeaway? This debate needs to move on. We need to stop arguing about the exact size of the bitcoin energy issue or about whether it’s really a problem and start talking about what we’re going to do about it.
The best place to start is the grid itself and incentives to lower the cost of electricity. If renewables are cheaper and more plentiful, everyone, including and especially miners, will use them.
See also: Ben Schiller –‘Green’ Bitcoin Is the Price of Mass Adoption
So here’s a proposal. As the Biden Administration considers a massivebillto integrate and upgrade the U.S. grid, what about incentives for miners and renewable power companies to work together?
In tandem they could really fund a new generation of cleaner energy while also bringing a new form of money with myriad benefits for the world. What about, say, extra tax credits for renewable producers that work with miners?
The problem isn’t a lack of power to run everything. It’s a lack of coordination in using that power efficiently and where it’s needed. Bitcoin is a burden but it’s also a possible fix. Let’s embrace the challenge rather than run away from it.
• The Node: Biden’s Grid Plans Can Clean Bitcoin
• The Node: Biden’s Grid Plans Can Clean Bitcoin || Bitcoin app Mode raises £6 million in oversubscribed placing: London Stock Exchange-listed Bitcoin app, Mode, has announced the completion of an over-subscribed placing arranged by Peterhouse Capital Limited, raising a total of £6 million. Mode plans to use the capital to expand its offerings to the Asian market while also adding to its Bitcoin holdings. In October, Mode revealed that its strategy was to put 10% of its treasury holdings into Bitcoin, which at the time was around $1 million. Jonathan Rowland, Executive Chairman, commented: As with the Mode offering at the time of our IPO last October, this placing was significantly oversubscribed. We are pleased to announce the successful completion of a materially over-subscribed placing arranged by @peterhousecap to raise GBP6,000,000 to support the continuing rapid growth of Mode's new-breed financial products and services: https://t.co/oHcp3bNHXN pic.twitter.com/7EsKdMBpF8 Mode (@modeapp_) February 26, 2021 We are especially gratified that we have now attracted, as a result of this placing, a range of new institutional shareholders. These additional funds will also provide the Company with strong cash reserves to push forward our stated near-term strategic objectives. The objectives include launching a payments solution powered by Open Banking, developing a loyalty and reward engine, integrating new payment capabilities and expanding the business to Asia. The Company has been extremely busy since our October IPO, but shareholders can expect with these additional funds that we will now accelerate these ambitious and exciting development plans. Mode is in the right place, at the right time, and shareholders can confidently now look forward to exciting news in the near future. Rowland added. For more news, guides and cryptocurrency analysis, click here . || Samsung unveils A52 5G and A72 Galaxy smartphones — live updates: • Uber agrees to holiday pay and pensions for 70,000 drivers
• Wikipedia plans to charge tech giants for access
• Instagram to block adults sending messages to children
• Facebook’s peace deal with Rupert Murdoch spooks the media world
• Sign up here for our daily technology newsletter
Samsung has unveiled its latest smartphone range, as the South Korean tech giant tries to appeal to younger users.
The Samsung Galaxy A52 5G and A72 models offer better cameras and battery life to appeal in an attempt to appeal content creators and frequent social media users.
The two new devices are priced at £399 and £419 respectively.
Conor Pierce, Samsung UK and Ireland corporate vice-president, said: "The Samsung Galaxy A52 5G offers cutting-edge features, including a vivid and smoother display, long-lasting battery and cameras designed to keep up with the demands of content creators.
"All this is powered by 5G, putting innovation in the hands of the next generation."
Mark Zuckerberg has long touted Facebook Groups as the future of the social network - communities dedicated to a topic or place, away from the angry algorithmically-driven posts on the news feed.
But it is fair to say this hasn't gone so well: groups have often allowed users to coalesce aroundconspiracy theories, or the"Stop the Steal" movement, orillegal raves. In other words, groupsrisk linking the wrong people, as well as the right ones.
Today, Facebook says it isintroducing extra steps to make groups safer. Here's the plan:
• Removing civic and political groups from recommendations globally
• Providing alerts when people join groups that have violated Facebook rules
• Requiring admins and moderators to temporarily approve all posts in groups where large numbers of users have violated policies
• Temporarily blocking members who repeatedly flout rules from posting in all groups
Adverts pushing scams, fakes and illegal items are nothing new, but last year tech companies were forced to deal with a wave of ads linked to Covid-19.
Google has released itsannual ads safety report, revealing that it took down 99m Covid-related ads last year. Scott Spencer, the company's vice president for ads privacy and safety said they included "miracle cures, N95 masks due to supply shortages, and most recently, fake vaccine doses".
In total, it says it blocked 3.1bn ads and restricted 6.4bn.
Samsung has revealed its latest smartphone range, targeting younger users with two day battery life and "hyper fast" 5G.
The South Korean tech giant is advertising the Samsung Galaxy A52 5G and A72 models as equipped with a "smoother" scrolling experience for social media and upgraded camera features, including a "scene optimizer" that uses AI to suggest settings for of images of food or pets.
The two new devices are priced at £399 and £419 respectively.
Tech shares were leading losses among US stocks this morning in New York, in anticipation of the Federal Reserve's Wednesday statement which could deliver clues about whether the central bank will raise interest rates earlier than expected.
At 6pm UK time, Federal Reserve Officials are scheduled to release their latest economic projections and expected to reaffirm ultralow interest rates for now.
The tech-heavy Nasdaq Composite slipped 1pc, while Apple dropped 2pc.
Low interest rates are seen as one of the reasons driving investors to tech companies that either make no profits at all or earn just a fraction of their sky-high market value.
Welfare systems run by artificial intelligence can entrench discrimination and bring about immediate destitution, according to the Council of Europe, the human rights body of which Britain is still a member.
"These systems can, if not developed and used in accordance with principles of transparency and legal certainty, amplify bias and increase risks," said the Council in astatementpublished on Wednesday.
"Biased and/or erroneous automated decisions can bring about immediate destitution, extreme poverty or even homelessness and cause serious or irreparable harm to those concerned."
The statement added that mistakes made by automated systems can have long-lasting effects, even if those mistakes are promptly fixed.
In September, Human Rights Watch claimed a “flawed” algorithm was causing claimants of the UK's Universal Credit social security system to miss out on much-needed financial support and leaving some people reliant on food banks. You can read more about that storyhere.
The world is experiencing a chip shortage worse than ever before, Zhou Zixue, a senior official within the China Semiconductor Industry Association, said on Wednesday.
"If you are an experienced player, you will remember than in 1999 there was a similar crisis in the industry but it was way smaller," he said at the SEMICON China technology conference.
"We have to deepen our cooperation, we have to give more attention to innovation. Only by doing that our industry can control the challenges facing us."
Although China is the world's largest buyer of semiconductors, the country's domestic production is marginal.
Earlier today, Koh Dong-jin, co-chief executive and head of Samsung's mobile business unit also raised the alarm about "a serious imbalance in supply and demand of chips in the IT sector globally."
For more about the global chip shortage, read my colleagueJames Titcomb'sanalysishere.
Snap has acquired a German company that helps shoppers ensure they buy the right size online, reports my colleagueMichael Cogley.
Berlin-based Fit Analytics uses machine learning algorithms that pairs up customer-provided information with data from retailers on themeasurements and fit of their clothes.
The company, which counts the likes of ASOS, Patagonia, and Tommy Hilfiger among its 18,000 customers, claims its technology can help brands cut down on “sky-high” return rates.
Fit Analytics first started out using a webcam-based body modeling system but has since switched to using data around metrics like height and body type for a service called Fit Finder.
Snap, the parent company of the social media app Snapchat, hopes to use Fit Analytics to grow its ecommerce business and may look to deploy the technology in its augmented reality offering.
The Berlin firm’s 100 staff will join Snap as part of the deal but will continue to build Fit Finder products and serve its customers. The company will continue to operate out of its headquarters in Germany but will start reporting to Nima Khajehnouri, Snap’s engineering vice president.
In a blog post, Fit Analytics said it was “thrilled” to be joining Snap.
“This acquisition will strengthen Fit Analytics’ position as an industry leader in apparel and footwear technology,” the company said.
If you are a Fit Analytics partner, this is only the beginning. By leveraging Snap’s scale and capabilities, we will not only continue to service our existing customers, but also deepen our relationships and offerings with our brand partners and customers.”
Fit said its main focus will be to scale its business as well as working with Snap on its shopping offering.
The deal follows on from a separate acquisition made by Snap in November, when it bought Voisey, an app that helps musicians collaborate on videos.
Late last year, the company also launched a TikTok-like tool called Spotlight that aimed to compete with the Chinese hit.
Britishvolt has bulked up its board with former high-ranking executives from the likes of Ford and BMW as it prepares to open the country’s first gigafactory, reportsMichael Cogley.
The UK firm plans to spend £2.6bn building a large-scale lithium ion battery production plant in Blyth in northeastern England as regulatory pressure intensifies around the sale of cars that run on fossil fuels.
Joe Bakaj, who was previously vice president of product development for Ford Europe has joined the BritishVolt advisory board. Nick Spencer, who has spent more than two decades in high-ranking roles across both BMW and Jaguar Land Rover, has also joined the board.
Britishvolt also drafted in another four further members included Sir Michael Snyder, former managing partner of accountancy firm Kingston Smith, and Lord Chadlington, an active member of the House of Lords.
William Harrison, the chairman of ISG, one of the world’s largest construction companies, has also been brought in by Britishvolt as well as Jolyon Price, an owner of construction consultancy Ridge & Partners.
Orral Nadjari, the chief executive of BritishVolt, said the skills of the new board members will be “invaluable” as it pushes ahead with its gigafactory plans.
“These appointments underpin the huge progress that we have made in a short period of time and the world-class capability that is now driving Britishvolt forwards at pace,” he said.
“We are firmly on track with construction, product development, funding, and engaging all future customers. We will be production ready by 2023.”
Construction of the Blyth plant is due to start this year with Britishvolt expecting to produce over 300,000 lithium batteries per year from the site by 2027.
The company’s plans come as the Government begins to phase out the use of fossil fuels for motoring in the UK. Last year, Prime Minister Boris Johnson unveiled a new green plan that would stop the sale of new petrol and diesel cars from 2030 and require all new vehicles to be fully electric by 2025.
The gigafactory will be built on a 95-hectare site that was formerly the home of the Blyth Power Station. It will use renewable energy - including the potential to use hydro-electric power generated in Norway and transmitted 447 miles under the North Sea.
Recruitment for the Chair and CEO of ARIA will not be limited to scientists and will probably begin in April or May, said Kwarteng.
"In terms of the launch of the organisation, I imagine it will be sometime in 2022 but these dates could shift."
Kwarteng reinforced the point that ARIA is not trying to recreate DARPA, which is a research agency focused on defence.
"I'm sure Dominic Cummings would have mentioned that and he would say that ARIAS's inspiration was really the ARPA of the 1960s which wasn't as defence focused as DARPA and I think this is reflected on the face of the bill."
The ARIA bill was introduced to Parliament earlier in March.
The Business Secretary said when he started, he immediately wanted the Department of Business to "own the space strategy".
"If you look at space and the policy around space, that was sitting in lots of different buckets. Number 10 obviously had a clear interest in it, as did the UK Space Agency and other departments such as the MOD.
"I've said that BEIS [The Department for Business, Energy and Industrial Strategy] will really take the lead on this.
"We're holding the pen on the space strategy and we're very keen and excited about delivering that in the next few months."
"We are absolutely committed to making sure that we spend enough to make sure that we are a science superpower and that remains a robust commitment," Kwarteng said, reaffirming the 2.4pc commitment of GDP on R&D.
When challenged on whether this target was realistic by Labour MP Rebecca Long-Bailey, he described this aspiration to be a science superpower as "very ambitious" at a time when there is a "huge pressure on public finances".
"The actual leader of ARIA, which is independent, that's someone that we're going to be recruiting," he said.
"The secretary of state will not be determining on a day to day basis, what the missions of ARIA will be, nor will the Secretary of State be funnelling money, if that's a way of describing it, to individual projects.
"There is a separation in terms of the operation of ARIA which will be run by a director and of course the governance and the responsibility to the House of Commons."
"I reject any idea that this is somehow going to be outside the normal corporate governance structure," the Business Secretary said.
"I, as secretary of state, or my successor, will have to report to parliament n ARIA, there is a duty on the part of ARIA to submit accounts. These will also be scrutinised by Parliament."
Kwarteng added: "There will be a great deal of transparency and oversight".
Kwasi Kwarteng, Business Secretary, has replaced Dominic Cummings in front of the Science and Technology Committee.
Despite the new financial year being just two weeks away, he said the budget for UK RI is still being discussed with Treasury and also with the Department for Business, Energy and Industrial Strategy.
"There are a number of pressures as you'll appreciate on the budget, giving where we are with Covid," he said.
"Britain can't match pound for pound what China is spending, what America is spending. But if Britain decides to do things differently, then it could have dramatic improvements," Cummings said.
"There are some fields in which we are a superpower. The first thing that comes to mind is the genetic sequencing of Covid variants. We do have very strong life sciences."
He added: "I was left in not doubt from my 18 months in government that there was this feeling we are falling behind globally.
"Increasingly the Nobel Prizes from the past are being used for branding. We haven't invested over the last 20 years the way we should have done to make sure that the pipeline of these things is continuing.
"We have got some brilliant things, we should reinforce those brilliant things but I think the true situation is more worrying and dangerous than it appears."
"The very last meeting I ever had with the Prime Minister, the day that I left Downing Street, was actually on the subject about how to change the bureaucratic structures inside number 10, the Cabinet Office, so that you make science and technology a core part, not just of the current Prime Minister's job but all future Prime Minister's jobs," Cummings told MPs.
He added that before he left Downing Street, Johnson approved a proposal by Cummings and Patrick Vallance to move the administration of science into the cabinet office, from the Department for Business, Energy and Industrial Strategy.
"The critical thing, if you're going to do things differently, is that individuals have to be able to place bets, not committees. As soon as you have committees and the pursuit of consensus, then automatically it's basically impossible to fund these sorts of things," Cummings said.
Cummings has described the government's vaccine roll out as a victory against normal bureaucracy.
"It's not incidental that the vaccine programme worked the way that it did. It's not incidental that to do that, we had to take it out of the Department of Health. We had to have it authorised very directly by the Prime Minister and strip away all the normal nonsense that we can see is holding back funding."
He said in spring 2020, the department of health was "a smoking ruin" in terms of procurement and PPE. He repeats: "You had serious problems with the funding bureaucracy for therapeutics on Covid".
He added: "Patrick Valance, the Cabinet Secretary and me and some others said, obviously we should take this out of the department of health, obviously we should create a separate task force".
When asked what a good success rate would look like for the new ARIA research agency, Cummings said: "Everybody who's been involved in these sorts of things at a very high level has said to me, essentially... it has to fail and quite a large percentage of what it does should fail. If that's not the case, then it isn't taking enough risks."
He added: "If you're looking at venture capital now... almost all their returns come from a tiny number of successes."
"We've got a procurement system that was created by the EU framework and then gold plated by Whitehall," said Cummings.
"As I and others said repeatedly before 2020, this system is an expensive disaster zone and when it hits a crisis, it will completely fall over. So it hit a crisis and it completely fell over."
He later added: "Current existing systems massively reward high status, well connected people".
Cummings said: "I've deliberately tried not to get into my own ideas for what sort of things ARIA would fund but it seems obvious that one of the things that should be funded now is a combination of mass distributed testing at home, mass distributed genetic sequencing, mRNA vaccines and the supply chain scale up".
The UK Research and Innovation agency has done some "excellent things" but "also suffers from this very extreme bureaucracy problem", said Cummings.
"We spent a lot of time last spring, for example, dealing with blockages in the funding system to therapeutics that were for dealing with Covid".
He added: "If you're going to put [the new agency] inside UK RI, then don't do it at all. It would be my advice, as I said before, the only justification for doing this is if you do it outside the existing system".
"If it was suggested, I would certainly say no," he said.
"If they pick the right people, then what can I possibly contribute to it."
"This committee will be familiar with DeepMind's [British co-founder] Demis Hassabis wgi had to go to California and talk to people like Peter Thiel to get cash to get DeepMind going because the British funding system just does not think naturally in that way," he said, speaking to the Science and Technology Committee.
"That's exactly one of things I think that ARIA should be able to do..."
We're two minutes into the Sci/Tech committee and Dominic Cummings is showing MPs a chart about "the design space for how you could do science and technology"pic.twitter.com/EnC7QXg5Fu
Dominic Cummings said Whitehall "has not been configured to think rationally about how to do Science and Technology Policy", as he campaigns for the government's proposed new research agency.
Speaking at the Science and Technology Committee on Wednesday morning, the Prime Minister's former chief adviser said the new agency called ARIA needs "extreme freedom" to succeed.
"You need to strip out all the horrific Whitehall bureaucracy of procurement, state aid, human resources, civil service pay scales," he added.
He also said Boris Johnson came to his house the Sunday before he became Prime Minister and asked if Cummings would join him in Downing Street.
According to Cummings, he said agreed on the condition Johnson avoided a second Brexit referendum and "doubled the science budget".
An antitrust watchdog in France has rejected a request by online advertising groups to block Apple's planned privacy initiatives.
The competition regulator said on Wednesday that Apple's plan to require apps to obtain users' consent in order to track them "doesn't appear to be abusive".
However the authority did say it would pursue an investigation to determine if Apple's changes were "self-preferencing", by imposing stricter rules on third-party apps than on itself.
The companies behind the complaint argue few users will agree to tracking, making it harder to make money from personalised adverts and damaging businesses involved in their sales.
A teenager in Florida has been sentenced to three years in prison for his role in hacking the Twitter accounts of prominent figures including US President Joe Biden, Microsoft co-founder Bill Gates and Tesla CEO Elon Musk.
"The Bitcon" saw hackers posting instructions from celebrity accounts, telling people to send cryptocurrency to the same bitcoin address, with the promise they would get double their money back.
One Tweet sent from Elon Musk's account said: "I'm doubling all BTC payments sent to my address. You send $1,000 and I will send $2,000 back!"
Graham Ivan Clark,18, who was 17 when he committed the crime, pleaded guilty to multiple fraud charges as part of a deal with prosecutors in Hillsborough County, west Florida.
Prosecutors said the teenager was the mastermind behind the scheme to take over Twitter accounts belonging to politicians, technology leaders and celebrities and scam their followers out of more than $100,000 in Bitcoin.
A British 19-year-old, Mason Sheppard, from Bognor Regis, has also been charged separately in federal court for his alleged connection to the case.
Britain’s business secretary has welcomed workers' rights for Uber drivers, saying he is "very, very happy" drivers working for the app will receive new benefits.
Yesterday, ride-hailing app Uber agreed to give its 70,000 British drivers holiday pay and pensions following a landmark ruling by the top UK court.
"I think it's a good and welcome development," said Kwasi Kwarteng, speaking on the BBC Radio 4's Today Programme, on Wednesday morning.
" I've always maintained that workers' rights and workers' protections should be maintained and strengthened."
He added: "I don't see a world where we're trying to race to the bottom."
My colleagueHannah Bolandhas more on the changes at Uberhere.
Burglars and thieves who have served more than a year in jail are to be GPS tagged on release so they can be tracked 24/7 from next month.
My colleagueCharles Hymasreports:
Police will be able to check their movements against burglaries or thefts in their areas to see if they could be suspects.Kit Malthouse, the policing minister, said it would also act as an “enormous deterrent” as the convicted thieves “will know we know where they are".It has been targeted at those who have served 12 months or more because they are likely to be prolific burglars and thieves with repeat convictions.They will be required by law to wear the tags for a year unless their probation period ends before then. Any breach of their release on licence could result in their return to jail.
Read the full storyhere.
Samsung has raised the alarm about a "serious imbalance" in the semiconductor industry, becoming the largest tech giant to speak out on the issue which iscausing disruption across multiple industries.
On Wednesday, the Koh Dong-jin, co-chief executive and head of Samsung's mobile business unit, warned: "There's a serious imbalance in supply and demand of chips in the IT sector globally."
He added the problem was likely to persist into the next quarter.
Koh also announced the South Korean electronics giant was planning to skip the introduction of its new Galaxy note, one of its best-selling phones. This was not linked explicitly to the chip shortage but instead to efforts to streamline the company's line up.
Samsung shares dropped around 1pc on Wednesday in Seoul. Several suppliers and Asian chipmakers, includingTaiwan Semiconductor Manufacturing Corp, also fell.
1)Uber agrees to holiday pay and pensions for 70,000 drivers
Uber said it would start treating all its UK drivers as workers from Wednesday March 17th.
2)Wikipedia plans to charge tech giants for access
Foundation behind the online encyclopedia seeks to reduce reliance on donations by launching tools for Google, Apple and Amazon.
3)Instagram to block adults sending messages to children
Adults will be unable to message any users who do not follow them and are under the age of 18.
4)Google’s Nest listens while you sleep
The tech giant today unveiled a new Nest Hub which uses radar technology to track your sleep when placed on a bedside table.
5)SoftBank leads $300m funding round into British AI patent firm
UK-based PatSnap has seen a boom in interest from businesses in China in recent years.
Coming up today
Samsung is expected to unveil new Galaxy A smartphones at its Unpacked launch
SXSW continues with talks from Roblox late this evening || Bitcoin Back Above $40K as Institutions Lead the Way: The price of bitcoin (BTC) rose above $40,000 Saturday as the leading cryptocurrency has nearly regained all its losses suffered since reaching an all-time high in early January.
• BTC hit $40,538.66 before falling back to $40,272.56, up 4.91% in the last 24 hours, putting it back within striking distance of the all-time high of $41.962.36 set on Jan. 8.
• After hitting that high-water mark, BTC lost nearly a third (31.25%) of its value and all its spectacular year-to-date gains, bottoming out at $28,845.31 on Jan. 22.
• After moving sideways for a week or so, over the last seven days BTC has made a string of upward moves, culminating in today’s rise. Year-to-date BTC’s gain is 36.91% and it’s up 39.72% from Jan. 22.
• Helping to drive this latest run is fresh interest on the part of institutional money such as Ray Dalio’sBridgewater Associates, which manages $150 billion in investor money, and theMiller Opportunity Trust. It may also be getting a boost from MicroStrategy’s WORLD.NOW BTC-themedconferencethis past week.
• “Bridgewater’s piece out last week had a sensitivity analysis which showed their estimates of BTC price, should private holders of gold switch to BTC,” states a weekly investor note Friday from quantitative trading firm QCP Capital.
• “They forecasted that should 50% of capital in gold move into BTC, that would result in a price of $85,000 per 1 BTC.”
• Bitcoin Back Above $40K as Institutions Lead the Way
• Bitcoin Back Above $40K as Institutions Lead the Way
• Bitcoin Back Above $40K as Institutions Lead the Way
• Bitcoin Back Above $40K as Institutions Lead the Way || How Bananas and Mortgages Can Explain the NFT Craze: If you’re baffled by the craze for non-fungible tokens (NFTs), those bespoke digital assets selling formillionsof dollars, here’s one way to make sense of the phenomenon.
First, keep in mind that a thing can be split into two things. Second, understand that the value of each thing, before and after the split, is in the eye of the beholder.
Now, picture a banana.
Related:Diginex Anticipating Bitcoin Rise to $175K by End of 2021, CEO Says
When picked from the plant, the elongated fruit is encased in its yellow skin. The skin can be peeled off.The value of the fruit is obvious: It is edible. To some, the peel itself may have some value as well.
You can use the peels as compost inyour garden. Also, banana peels can be used for pranks, such as by leaving one on the floor for someone to slip on or for stuffing into a car’s tailpipe. These are mean tricks so don’t do them.
In the 1960s, there was even a brief fad of smoking banana peels. According toWikipedia, the “recipe” for extracting a fictional substance called bananadine from the peel was a hoax, but who’s to say those kids didn’t feelsome kind of high?
Related:$69M Art, Investing in Grayscale and the Future of Money
The point is that the value of a banana, and of its peel, issubjective. I throw banana peels into the garbage but there’s a saying: One man’s trash is another man’s treasure.
To recap: One object can become two objects and, both before and after they are separated, the value of each object isin the eye of the beholder–as it is for anything else.
To further illustrate these ideas, let’s consider a much more serious example: the $11 trillion U.S. mortgage industry.
Unfortunately, the mortgage market is as convoluted as anything inDeFi. I will break it down as simply as I can, and thank readers in advance for keeping up.
If you financed a home with a mortgage, chances are the institution where you send your monthly payment is not the same one that holds the mortgage. It also may or may not be the same bank that loaned you the money in the first place.
That’s because, like the banana, a mortgage is an asset that can be split into parts and sold separately to different entities. Think of the debt itself as the edible part of the banana. It typically gets packaged, with a whole bunch of other naked bananas, into those complex securities you heard about in “The Big Short.”
Too unglamorous for Hollywood dramatizations, the peel is known as the mortgageservicing rights(MSRs). This is a set of administrative duties your lender may or may not farm out after the loan closes. A servicer manages billing and payments, pays property taxes and hazard insurance on your behalf, writes a nasty letter if you pay late and does other scutwork.
The MSR is part of the whole when the loan is written; it can remain so or be peeled off (mortgage pros even speak of a “servicing strip”). The difference is that while you can eat the banana and keep the skin, when a loan is paid off the MSR disappears.
Like loans, MSRs routinely get aggregated into big packages andsold to the highest bidder. To be clear: The company that wins the peels doesn’t work foryou, the borrower, it works for whomever has the bananas, the mortgage holder.
From that investor’s perspective, the debt has value because the holder is entitled to your monthly principal and interest payments over the life of the loan – and, if you fall behind and never catch up, after 90 days or so it can take your house. For the buyer of the peel, servicing rights have value because the servicer earns a fee (a cut of the interest) for its drudgery.
How valuable are these two assets? The mortgage and the associated servicing rights both generate income for their respective owners. The question ishow longthe assets will do so.
For both assets, the answer depends on how likely you are to stay in the home before:
• Selling it, meaning you pay off the loan early
• Refinancing the loan, which also means you pay it off early
• Defaulting, which means the servicer takes back your house on the investor’s behalf, and both parties incur costs selling it
• Paying down the balance over the full term (as long as 30 years in the U.S.)
All of that, in turn, depends on the outlook for interest rates, home prices, employment levels and probably lots of other things. Wall Street has long employed armies of highly paid propellerheads who crunch numbers toestimatethe “prepayment speed” of mortgage assets.
Notice that word,estimate. Forecasts are right or wrong in retrospect, but nobody knows what’s going to happen until it happens. Andbanks often get rektwhen they underestimate how quickly loans pay off.
Once again: One asset can become two (banana/loan, peel/servicing), and the value of each is subjective.
But “subjective” here does not mean “untethered from reality.”
A couple years ago, someone taped an unpeeled banana to a Miami gallery wall, called it art and sold the work to three different buyers for more than $100,000 a pop.
By “the work,” I don’t mean the banana itself, which was bound to rot. The banana was replaceable, in the artist’s instructions for recreating the work, according to anexplanation in Vogue. The buyers got a certificate, which is how there could be three of them and only one banana.
Why would anyone pay six figures for … the right to duct tape a banana to a wall and call it someone else’s creation? I can think of at least two reasons.
One is, you really appreciate the work and want to patronize the artist, because you believe it makes an important statement about … something. The other is so you can impress your friends (and one-up your rivals) at the next cocktail party.
In other words, the bragging rights.
That may be part of the reason why non-fungible tokens (NFT) are blowing up in these strange times. Digital items can create bragging rights just like their canvas-based counterparts – and are arguably more liquid as an asset class.
(By the way, the title of the banana masterpiece was “Comedian.” Read that however you want.)
For a definition of NFTs, I can’t improve upon this by my CoinDesk colleague Nikhilesh De in his “State of Crypto” newsletter:
“They can represent things (like tweets, real estate,real-world assets, etc.) or they can be the things (like art). … [W]hile anyone can copy and download video clips or image files, an NFT has a record saying that it has only one owner.
“To be clear: You can still download the image file recorded in an NFT. If you sell a tweet, that tweet will still exist on Twitter, visible to all. … Think of them as autographed football cards. You could print as many copies as you want but if the player signs only one, that’s the card that’ll likely have the most value. For example, an autographed Tom Brady cardjust sold for $1.32 million.”
You might think:$1 million for a piece of cardboard?Ha, that’s chump change. In this week’s biggest crypto story, someone won an auction at Christie’s bypaying $69.5 millionfor an NFT by the artist known as Beeple.
This mystery buyeroutbid noted aesthete and Tron founder Justin Sun, who was ready to pay $60 million. But if either of them simply wanted to appreciate the work, known as “EVERYDAYS: THE FIRST 5000 DAYS,” they didn’t have to pay a dime. Beeple’s collage is viewable for free online. Because it’s a purely digital work, “owning” it doesn’t confer the same advantage as displaying a painting (or a banana) in your den.
I’d suggest this is the core innovation of the NFT: It has separated the bragging rights (h/t to Bloomberg’s Tracy Alloway) of owning a rare object from possession of the object, much like Wall Street decades ago cleaved servicing rights from the underlying mortgages. Or, in the case of virtual “objects” that no one can solely possess, NFTs have preserved, or resurrected, the bragging rights.
Unlike servicing rights, though, bragging rights don’t have an income stream; their value is psychological (one art critic has called NFT collecting “posing”) and thus presumably even harder to model.
But not impossible to finance! As CoinDesk’s Brady Dale reports, there are now decentralized finance markets where you canpledge NFTs as collateralfor loans.
I don’t mean to sneer. For one thing, the NFT phenomenon has shown positive side effects. Beeple is likely set for life and can pursue his art without ever worrying about putting food on the table. Twitter CEO Jack Dorsey haspledged to charitythe proceeds of an ongoing auction for the first-ever tweet,last bid at $2.5 million.
And as with fruits or byzantine financial contracts, if you think these valuations are absurd,well, that’s just, like, your opinion, man. The buyers, though, should keep in mind that art markets, just like financial ones, are known tocrash. It’s hard to imagine the same can’t happen for “art” you can’t even hang on a wall. So you’d best be ready to savor those bragging rights for a long time. Longer than many Americans stay in their homes.
Paying almost $70 million to “own” a picture anyone can look at for free may sound bananas. But, clearly, the time is ripe to sell NFTs.
• How Bananas and Mortgages Can Explain the NFT Craze
• How Bananas and Mortgages Can Explain the NFT Craze || What to Know About the Medicare Advantage Open Enrollment Period: Taking advantage of every opportunity to review your Medicare coverage can help ensure you're receiving the benefits and savings you deserve. TheMedicare AdvantageOpen Enrollment Period was instituted by the Centers for Medicare and Medicaid Services (CMS) in 2019, so it may not be as familiar as other Medicare enrollment periods. Here's what you need to know:
When is the Medicare Advantage Open Enrollment Period?
The Medicare Advantage Open Enrollment Period occurs from January 1st through March 31st every year. It is different from the Medicare General Enrollment Period, which also occurs from January 1st through March 31st.
Note: Medicare General Enrollment is for individuals who did not enroll in Medicare Parts A or B during their Initial Enrollment Period. Enrollments during Medicare General Enrollment go into effect on July 1st of the same year.
Who is Eligible for This Enrollment Period?
Individuals who are enrolled in Medicare Advantage (Part C) Plans are eligible for this enrollment period. If you are only enrolled in Original Medicare (Part A and B) or a Medicare Supplement Plan, the Medicare Advantage Open Enrollment Period does not apply to you.
What You Can Do During the Medicare Advantage Open Enrollment Period
During the Medicare Advantage Open Election Period, you can swap or drop your Medicare Advantage Plan.
Swap:If you are enrolled in a Medicare Advantage Plan that doesn't suit your needs, you can enroll in a different Medicare Advantage Plan during this enrollment Period.
Drop:If you no longer wish to be enrolled in a Medicare Advantage Plan, you can drop that plan and return to Original Medicare (Parts A and B only). If you do not have prescription drug coverage after dropping your plan, you will also have an opportunity to enroll in a Part D plan.
Important Note:You may only change your coverage once during the Medicare Advantage Open Enrollment Period. After you have swapped plans or returned to Original Medicare, you will not be eligible to make any other changes through this enrollment period.
The Medicare Advantage Open Enrollment Period may be useful for if you:
• Discovered that one or more of your providers are out-of-network
• Missed enrolling during the Medicare Annual Election Period
• Found out your prescriptions aren't covered by the plan
• Got charged more than you expected
To learn more,click hereto speak to a licensed insurance agent.
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[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 59095.81, 59384.31, 57603.89, 58758.55, 59057.88, 58192.36, 56048.94, 58323.95, 58245.00, 59793.23
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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 2017-03-16]
BTC Price: 1187.81, BTC RSI: 52.01
Gold Price: 1226.50, Gold RSI: 54.37
Oil Price: 48.75, Oil RSI: 33.69
[Random Sample of News (last 60 days)]
Bitcoin soars above $1,100: Bitcoin (A Bitcoin sign is seen in a window in Toronto.Reuters/Mark Blinch) Bitcoin has broken out to its best levels since the beginning of the year as overnight buying has the cryptocurrency higher by 4% at $1,101.70 per coin. Tuesday's advance marks bitcoin's eighth straight gain and has run action above the $1,100 mark for the first time since January 5. A move above $1,161.85 will have bitcoin trading at its best level since November 2013. The eight-day winning streak comes amid investor speculation the Securities and Exchange Commission will approve at least one of the three proposed bitcoin-focused exchange-traded funds despite analyst concerns that none will be approved . Bitcoin has had a wild start to 2017. It rallied more than 20% in the opening week of the year, propelled by speculative buying in China. It then proceeded to crash 35%, bottoming out below $800, amid concerns China was going to crackdown on trading. After shrugging off concerns that Chinese exchanges were going to charge a flat fee of 0.2% per transaction , buyers re-emerged and ran bitcoin above $1,050 before two of China's largest exchanges said they were blocking withdrawals . Bitcoin (Markets Insider) NOW WATCH: People with these personality traits have more and better sex More From Business Insider CIA analyst resigns, calls Trump's actions in office 'disturbing' This little-known Amazon service turns stuff you want to get rid of into store credit Trump doubles down on baffling Sweden claims || Bill Gates' Stock Portfolio: - By Ben Reynolds (Published Jan. 20 by Bob Ciura) Bill Gates ( Trades , Portfolio ) is the richest man in the world. The Bill & Melinda Gates Foundation has a massive $18.5 billion endowment. Warning! GuruFocus has detected 4 Warning Sign with BRK.A. Click here to check it out. BRK.A 15-Year Financial Data The intrinsic value of BRK.A Peter Lynch Chart of BRK.A That kind of wealth is something of which the vast majority of us can only dream. However, there is one similarity between the everyday investor and the wealthiest person on the planet: We're all looking for good stocks to buy and hold for the long term. Gates is a personal friend of Warren Buffett ( Trades , Portfolio ) so it's no surprise to see the Bill & Melinda Gates Foundation take a similar approach to investing as the Oracle of Omaha. You can see Buffett's top 20 high-yield dividend stocks analyzed here. The Bill & Melinda Gates Foundation owns several highly profitable companies with sustainable competitive advantages. Many of the stocks also pay dividends to shareholders and grow their dividend payouts over time. Without further ado, here are the top 16 stocks held by the Bill & Melinda Gates Foundation. No. 1: Berkshire Hathaway Dividend yield: N/A. Percentage of Gates' portfolio: 58%. Price-earnings (P/E) ratio: 17. Berkshire Hathaway Inc. (NYSE:BRK.A)(NYSE:BRK.B) stock takes up the majority of Gates' investment portfolio, and it is easy to see why. It's safe to say the money is in good hands. Berkshire, under Buffett's stewardship, grew from a struggling textile manufacturer into one of the largest conglomerates in the world. Since Berkshire's current management team took the helm 51 years ago, the company's per-share book value rose from $19 to $155,501, a rate of 19.2% compounded annually. Today, Berkshire is a global giant. It owns and operates dozens of businesses with a hand in nearly every major industry including insurance, railroads, energy, finance, manufacturing and retailing. Story continues A breakdown of Berkshire's various operating segments is as follows: Sales and Services (51% of revenue). Insurance Premiums (20% of revenue). Railroad, Utilities, and Energy (19% of revenue). Interest, Dividend, and Other Investment Income (2% of revenue). Financial Product Sales (3% of revenue). Investment and Derivatives (5% of revenue). In Berkshire's annual letters to shareholders, Buffett typically evaluates the company's performance in terms of book value. Book value is an accounting metric that measures a company's assets minus its liabilities. The resulting difference is a company's book value. This is a proxy for the intrinsic value of a firm, which Buffett believes to be the most important financial metric. Over the past five years, Berkshire has done a great job growing assets faster than liabilities, which builds shareholder wealth. BRKA Growth Source: 2015 Annual Report, page 36 Berkshire doesn't pay a dividend to shareholders. Buffett and his partner Charlie Munger (Trades, Portfolio) have always contended that they can create wealth at a higher rate than the dividend would provide to shareholders. There are few managers who can say that and get away with it, but Buffett and Munger might be the only two who can. While Berkshire stock may not be attractive for investors who want dividend income, there are few companies that have a track record nearly as successful as Berkshire. No. 2: Waste Management Dividend yield: 2.4%. Percentage of Gates' portfolio: 6.5%. P/E ratio: 27. Waste Management Inc. ( WM ) is the embodiment of a company with a wide economic moat. It operates in waste removal and recycling services. This is a highly concentrated industry with only a few companies controlling the majority of the market. Waste Management services many different industry groups, which are organized as follows: Collection (55% of revenue). Landfill (19% of revenue). Transfer (9% of revenue). Recycling (8% of revenue). Other (9% of revenue). The company is performing well. Over the first three quarters of 2016, revenue and earnings per share increased 3.6% and 8.8%. Waste Management operates in a stable and necessary industry. Waste removal is extremely capital intensive and is subject to significant regulatory oversight. These competitive advantages allow Waste Management to generate steady profits even when the U.S. economy enters recession. WM Essential Source: JPMorgan Industrials Conference presentation, page 14 Waste Management's high margins and consistent cash flow put the company in a strong financial position. It has reduced its debt significantly in the past several years. WM Debt Source: JPMorgan Industrials Conference presentation, page 17 With less debt to worry about, there is more cash flow left over each year. It uses this cash flow to invest in the business and for shareholder cash returns. WM Capital Allocation Source: JP Morgan Industrials Conference presentation, page On Dec. 15, the company raised its dividend by 4% and added $750 million to its share repurchase program. Waste Management is a Dividend Achiever. Dividend Achievers are companies that have raised dividends for 10 years or more. You can see the entire list of all 272 Dividend Achievers here. For its part, Waste Management has increased its dividend for 14 consecutive years. The stock currently has a 2.5% dividend yield. Waste Management isn't a cheap stock. Its share price has soared over the past several years. But it still has an above-average dividend yield, and the company is growing. No. 3: Canadian National Railway Dividend yield: 1.6%. Percentage of Gates' portfolio: 6.1%. P/E ratio: 20. Canadian National Railway ( CNI ) is the only transcontinental railway in North America. It has a massive network, which includes more than 19,000 miles that spans Canada and the U.S. CNI Network Source: Investor Presentation, page 7 The company offers a full range of services including rail, intermodal, trucking, warehousing and distribution. Canadian National has an excellent business. From 2011 to 2015, it grew revenue and adjusted earnings per share at a 9% and 16% compound annual rate. It generated this growth from executing a number of operational strategies. First, it placed focus on improving productivity. CNI Productivity Source: Investor Presentation, page 9 This has allowed the company to boost volumes and revenue. Furthermore, Canadian National produces industry-leading margins, thanks to its lean cost structure. CNI Cost Source: Investor Presentation, page 12 One factor negatively impacting the company right now is that it is exposed to commodities, specifically coal. Coal revenue declined 32% in the third quarter, year over year. Moreover, revenue for energy and mining fell 13% and 20% last quarter. That being said, the company's diverse customer base and operational excellence more than offset the declines in its commodity-based segments. Canadian National's operating expenses declined 7% last quarter. Operating ratio reached a record 53.3% last quarter. Free cash flow over the first three quarters of 2016 remained steady with the same nine-month period in 2015. The company expects to post flat adjusted earnings per share in 2016. This in itself would be a notable accomplishment given the steep declines in oil and coal shipments. With its hefty margins, Canadian National generates significant cash flow, and its shareholder-friendly management actively deploys this cash flow to investors. Dividends per share have nearly doubled in that same five-year period. The company is one of the best dividend growth stocks in Canada. Canadian National certainly isn't a flashy business. Railroads may be overlooked by many investors for being boring, but Canadian National's shareholder returns prove that boring can be beautiful. No. 4: Caterpillar Dividend yield: 3.3%. Percentage of Gates' portfolio: 5.4%. P/E ratio: 31 (forward P/E ratio). Caterpillar ( CAT ) is a strong brand with a dominant industry position. It manufactures heavy machinery, mostly to the construction and mining sectors. 2016 was a year to forget for Caterpillar. The sharp downturn in precious metals prices weighed heavily on demand for heavy machinery. For example, Caterpillar's earnings per share fell by nearly half in the third quarter. CAT Third Quarter Source: Credit Suisse Industrials Conference presentation, page 4 Separately Caterpillar is being negatively impacted by slowing growth in emerging markets and the strong U.S. dollar. As a result, full-year revenue is expected to decline 29% in 2016. These headwinds are expected to persist in 2017 although there is potential for a recovery. CAT Forecast Source: Credit Suisse Industrials Conference presentation, page 7 Fortunately, there may be a light at the end of the tunnel. There are hopes that Caterpillar will return to growth in 2017. One catalyst could be a renewed emphasis on fiscal stimulus in the U.S. The incoming administration may pursue policies to stimulate the U.S. economy. This could include more infrastructure spending and perhaps a push for more lax regulations on the energy and mining industries, which are among Caterpillar's biggest customers. Separately higher commodity prices would be a major boost. In the meantime, investors are paid well to wait for Caterpillar's turnaround to materialize, and the company enjoys economies of scale. This provides it with the financial flexibility to cut costs so that it can maintain its dividend. Caterpillar forecasts over $1 billion in cost savings this year alone, mostly in manufacturing and headcount reductions. The company may not raise its dividend until economic conditions improve, but its solid 3.3% dividend yield is secure. No. 5: Walmart Stores Dividend yield: 3%. Percentage of Gates' portfolio: 4.5%. P/E ratio: 15. Walmart is another great example of a company with durable competitive advantages. It is the largest retailer in the world with annual revenue of approximately $500 billion. The company came to dominate the retail industry by keeping a laserlike focus on reducing costs everywhere, particularly in supply chain and distribution. This allowed Walmart to offer consistently lower prices than its competitors ever could. In turn, it steadily devoured market share until it became the giant it is today. Walmart's growth has slowed over the past year. The company is investing billions to pay higher wages, and renovate its stores. This will limit Walmart's earnings growth. As a result, some might assume Walmart's best days are behind it. After all, a behemoth as large as Walmart will naturally have difficulty continuing to grow at a rapid pace. But there are still growth catalysts for the company to look forward to, specifically in e-commerce and small stores. Walmart acquired Jet.com for $3 billion to boost its e-commerce business, especially in emerging markets like China. WMT Jet Source: Investor Community Meeting presentation, page 4 E-commerce revenue growth accelerated throughout the year. In the third fiscal quarter, e-commerce sales increased 20.6% year over year. Domestic growth is starting to pick up again, thanks to e-commerce and also Walmart's small-store franchise. The company's Neighborhood Markets small-store banner grew comparable sales by 5.2% last quarter, well above the 1.2% companywide growth rate. Walmart remains highly profitable and very resistant to recessions. Consumers tend to scale down to discount retail when times are tight, which is why Walmart continued to grow, even during the Great Recession. This allows Walmart to pay a solid 3% dividend yield and raise its dividend each year like clockwork. Walmart has raised its dividend for 43 years in a row. Its long history of dividend growth qualifies Walmart as a Dividend Aristocrat, a group of companies in the Standard & Poor's 500 that have raised dividends for at least 25 consecutive years. You can see the entire list of all 50 Dividend Aristocrats here. The stock has an appealing P/E ratio of 14. No. 6: Ecolab Dividend yield: 1.3%. Percentage of Gates' portfolio: 2.9%. P/E ratio: 32. Ecolab ( ECL ) is a commercial cleaning products firm. It operates in three segments: Global Industrial (36% of revenue). Global Institutional (35% of revenue). Global Energy (23% of revenue). Other (6% of revenue). The Other category includes pest elimination and equipment care. The Global Industrial group provides water treatment, cleaning and sanitation services to large industrial firms. The industrial customer base is made up primarily of food and beverage, manufacturing, chemical and mining companies. The Global Institutional business services specialized products and services to the foodservice, hospitality, lodging, health care and retail industries. This segment manufactures products for things like laundry and housekeeping. The Global Energy segment holds the company's Nalco brand. Nalco provides chemical and water treatment services to the oil and gas industry. Going forward, Ecolab is focusing on international growth. Expanding in new markets has been a core priority for the company in recent years. Nearly half the company's revenue comes from outside the U.S. One of the best aspects of Ecolab's business is its consistency. Providing cleaning products and services is a steady business. Customers need Ecolab's services, regardless of the condition of the U.S. economy. This means Ecolab is a recession-resistant business. In fact, the company grew earnings per share each year from 2007 to 2010. It didn't skip a beat, even during the worst recession since the Great Depression. Its reliable earnings growth allows the company to raise its dividend each year. In fact, Ecolab has paid a dividend for 80 years without interruption. It raises its dividend regularly. The company recently passed along a 6% dividend increase, marking its 25th consecutive year of dividend increases. Ecolab qualifies as a Dividend Aristocrat. The stock has a dividend yield of just 1.2%, which is on the low side. Its valuation is a bit high with a P/E ratio above 30. Investors may want to wait for a better buying opportunity, but Ecolab is a high-quality company. It is the largest operator in its industry, which provides competitive advantages. No. 7: FedEx Dividend yield: 0.9%. Percentage of Gates' portfolio: 2.9%. P/E ratio: 27. FedEx ( FDX ) is yet another example of a company with a strong economic moat. It operates in global logistics, essentially an oligopoly. It would be extremely difficult financially for a company to build out a fleet large enough to compete on the scale of FedEx. FedEx generates more than $50 billion in annual revenue. It has more than 400,000 employees and services more than 220 nations and territories around the world. The company has a diversified business model. It operates the following four segments: Express (52% of revenue). Ground (33% of revenue). Freight (12% of revenue). Services (3% of revenue). FedEx maintains a modest outlook for the global economy going forward. Economic growth is expected to be weak but remain positive. One growth catalyst that will help fuel future growth is FedEx's booming ground business, thanks to e-commerce. FDX Ground Source: Roadshow Presentation, page 8 FedEx notes the e-commerce market is growing at a 16% annual rate. Plus the company has captured additional revenue market share gains in ground shipping for 17 consecutive years. In addition, the company is countering sluggish global economic growth by cutting costs. Margins are up consistently over the past several years. FDX Margins Source: Roadshow Presentation, page 5 One downside for FedEx is that it has a very low dividend yield of less than 1%. It yields less than half the 2% average yield in the S&P 500. The company helps make up for this with dividend growth. For example, it raised its dividend by 60% in 2016. While FedEx might not be an appealing stock to income investors, it is a high-quality company with a strong business model. Earnings per share are expected to rise 21% in fiscal 2016. With this kind of earnings growth, FedEx stock can generate more than satisfactory returns, even without a significant dividend yield. No. 8: Crown Castle International Dividend yield: 4.3%. Percentage of Gates' portfolio: 2.7%. P/E ratio: 17. Crown Castle International Corp. ( CCI ) is a real estate investment trust (REIT). It provides infrastructure assets to wireless communications carriers. It has approximately 40,000 towers and 26,500 route miles of fiber supporting small cells. The company operates in an appealing area because wireless communications is a growth industry. U.S. consumers can't do without their smartphones, and Crown Castle is one of the companies reaping the benefits. Crown Castle has been investing additional capital in its infrastructure in several major U.S. markets. One example is Chicago. CCI Chicago Source: 3Q Earnings presentation, page 4 This investment across the U.S. was done to accommodate higher demand for wireless services, and the investment has paid off with strong growth rates. It is enjoying higher occupancy and rising rents as well. Revenue and adjusted funds from operation (FFO) increased 6% and 17% in the third quarter. Management has an optimistic forecast for the next two years based on strong growth for the wireless industry. Higher leasing rates and price increases should fuel solid growth in 2016 and 2017. Revenue is expected to increase 7% in 2016 and 3% in 2017. Adjusted FFO is expected to grow 10% this year and 6% in 2017. One consideration for investors going forward is the risk of rising interest rates. REITs like Crown Castle rely heavily on debt financing. When interest rates rise, so too does the cost of capital. This could inhibit the company's growth in future quarters. Still, the company operates in an industry with healthy fundamentals. It should be able to continue growing above its cost of capital and create wealth for shareholders. Crown Castle is a strong stock for dividends and dividend growth. Its current yield exceeds 4%, and it recently raised its dividend by 7%. No. 9: United Parcel Service Dividend yield: 2.7%. Percentage of Gates' portfolio: 2.7%. P/E ratio: 21. The global logistics industry is dominated by three companies. FedEx is one, and so is UPS. In fact, UPS is the industry leader; its market capitalization is $100 billion, which is double FedEx's market cap. Like FedEx, UPS is benefiting from e-commerce. UPS' domestic package revenue increased 4.8% in the third quarter year over year. This drove 3.6% earnings per share growth for the period. Another emerging growth catalyst for UPS is international growth. UPS International Source: R.W. Baird 2016 Industrials Conference, page 9 UPS is growing international revenue and a rapid pace, and it has significantly improved margins in its overseas operations. For example, UPS' international segment now represents 28% of its operating profit, up from just 6% in 2000. Lastly, UPS plans to grow through acquisitions. The company recently acquired Marken, a supply chain solutions provider to the life sciences industry. UPS Marken Source: R.W. Baird 2016 Industrials Conference, page 5 The acquisition further diversifies UPS' customer base by expanding its presence in health care and pharmaceutical logistics. One concern for investors in 2017 is the risk of global recession. UPS is widely viewed as an economic bellwether. Global uncertainty levels rose as 2016 drew to a close. If the economy enters recession in 2017 or beyond, it would significant affect UPS. Barring a global recession, UPS has a positive outlook. UPS stock is reasonably valued and has a solid dividend. The stock has a P/E ratio of 20. It is cheaper than the S&P 500, which has an average P/E ratio of 26. UPS stock has a 2.7% dividend yield. This is a big advantage over main rival FedEx, which has a much smaller dividend yield. UPS has a long history of paying consistent dividends. It has either increased or maintained its cash dividend for 47 years. Its dividend has risen more than fourfold since 2000. No. 10: Coca-Cola FEMSA SAB Dividend yield: 3%. Percentage of Gates' portfolio: 2.5%. P/E ratio: 28. Coca-Cola FEMSA ( KOF ) produces, markets and distributes Coca-Cola ( KO ) beverages. It offers the full line of sparkling and still beverages. It sells its products through distribution centers and retailers in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina and the Philippines. Coca-Cola FEMSA is the largest franchise bottler in the world. The stock is an excellent way to gain exposure to two appealing emerging markets: Latin America and South Asia. KOF Markets Source: Investor Kit presentation, page 2 These markets are growing at high rates for the company. Over the first nine months of 2016, total revenue and operating cash flow rose 7.8% and 6.6%. Revenue growth was driven largely by price increases. Coca-Cola FEMSA is in a strong financial position with low levels of debt and positive free cash flow. In addition, carrying the Coca-Cola brand allows it to generate high margins and enjoy pricing power. KOF Financials Source: Investor Kit presentation, page 23 This allows the company to consistently raise its dividend each year. One risk factor on which investors should keep an eye going forward is a potential change in consumer preferences. Coca-Cola FEMSA sells and distributes water and noncarbonated beverages, but more than 75% of the company's annual sales come from carbonated soft drinks. The emerging markets are high-growth economies with expanding middle classes. Citizens are enjoying rising standards of living. Once these markets become more mature, there could be a risk of consumers changing their dietary habits. Soda sales have declined in the U.S. for more than a decade. Coca-Cola's growth is struggling from this trend, which could become a challenge for Coca-Cola FEMSA moving forward. That being said, Coca-Cola FEMSA is still firmly in high-growth mode. No. 11: Grupo Televisa SAB Dividend Yield: 0.5%. Percentage of Bill Gates (Trades, Portfolio)' Portfolio: 2.3%. P/E ratio: 31 (Forward P/E). Grupo Televisa SAB (TV) is a diversified media conglomerate. In all, Televisa operates 26 pay-TV brands and television networks, cable operators and over-the-top services in over 50 countries. In the U.S., it operates Univision. In addition, Televisa owns a majority interest in Sky, a satellite television provider in Mexico, the Dominican Republic and Central America. Televisa also has operations in magazine publishing, radio broadcasting, professional sports, live entertainment, film production and gaming. It operates four business segments: Content (36% of revenue). Sky (22% of revenue). Cable (33% of revenue). Other (9% of revenue). The company is enjoying strong growth, thanks largely to high economic growth in Mexico and several Latin American markets. In 2015, net sales and segment operating income increased 9.9% and 10.6%. Growth has continued in 2016. Net sales and segment operating income rose 6.6% and 4.1% in the third quarter. The company's strongest businesses are Sky, Cable and Other, each of which posted double-digit revenue growth in the third quarter. Content segment revenue was flat in the third quarter although it did see 20% growth in network subscription revenue. However, this was offset by declines in advertising and licensing. The licensing business was affected by difficult comparisons. For example, licensing revenue fell 10% last quarter for Univision, since the comparable 2015 quarter included a major soccer tournament in Mexico. Televisa is a strong brand and has a fundamental advantage, thanks to its geographic focus. As a result, it is a compelling growth stock, for investors interested in international diversification. While it does not pay much of a dividend to shareholders, Televisa's return potential is still significant, thanks to its rapid growth. No. 12: Walgreens Boots Alliance Dividend yield: 1.8%. Percentage of Gates' portfolio: 1.5%. P/E ratio: 22. It is no surprise to see Walgreens Boots Alliance (WBA) on the list of Gates' holdings because it is an industry giant. Walgreens Boots Alliance came together in the $9 billion merger of Walgreens and Alliance Boots in 2014. The merger was a great move for the two companies. Walgreens is the biggest pharmacy operator in the U.S., and Alliance Boots was a top European pharmacy and distributor. When the two joined forces, it allowed the combined company to reach a global scale. Walgreens Boots now has three separate businesses, each of which are very large: Retail Pharmacy USA ($83.8 billion in annual sales, 70% of revenue). Retail Pharmacy International ($13.3 billion in annual sales, 11% of revenue). Pharmaceutical Wholesale ($22.6 billion in annual sales, 19% of revenue). The company performed well in fiscal 2016. Revenue and earnings per share, adjusted for currency and non-recurring costs, increased 16% and 18%. It is off to a good start in fiscal 2017 as well, thanks largely to the U.S. retail pharmacy operation. That segment posted 2.5% growth in pharmacy sales and 3% prescription growth in the 2017 first fiscal quarter. Going forward, Walgreens Boots intends to invest more in its beauty departments to help drive higher traffic. WBA Pharmacy Source: Q1 2017 Earnings presentation, page 8 There could be more transformational deals in the near future. The company has a pending deal to acquire fierce competitor Rite Aid Corp. (RAD) for $17 billion. Walgreens Boots has a below-average dividend yield, and the P/E ratio significantly exceeds the retail industry average. One of Buffett's favorite sayings is that price is what you pay, value is what you get. Walgreens Boots enjoys several competitive advantages, high profit margins and a strong brand. These qualities make it a valuable stock to own as part of a dividend growth portfolio. No. 13: Liberty Global Group Dividend yield: N/A. Percentage of Gates' portfolio: 1%. P/E ratio: 23. Liberty Global (LBTYA) is the largest international television and Internet provider. In all, the company operates in 30 countries and generates more than $20 billion in annual revenue. The company and its various subsidiaries provide service to 29 million customers. Its core brand in Europe is Virgin Media. It also has the Ziggo, Unitymedia, Telenet and UPC brands. Liberty Global is split up into two businesses, which are Liberty Global Group and LiLAC. Liberty Global includes its European operations, and LiLAC houses its Latin America and Caribbean business. Each segment - Liberty Global Group and LiLAC - have three share classes each. This share class corresponds to the Liberty Global Group. The European economy is on shaky ground broadly speaking with weak economic growth and the uncertainty presented by the Brexit vote. But television and Internet is a growth industry because of the low levels of market penetration. There are still many parts of Europe with untapped growth potential. In turn, Liberty Global is rapidly adding customers. LBTYK Customer Source: Q3 Earnings Presentation, page 5 Year-to-date additions rose 50% through the third quarter. As far as future growth is concerned, there is plenty of runway left. Liberty expects to add more than 5 million new households from 2016 to 2018. This aggressive expansion will require significant capital investment. The company plans to spend $2 billion over the next two years to build up its customer base, but the payoff is growth. LBTYK Europe Source: Q3 Earnings Presentation, page 15 Liberty Global realized growth in revenue and cash flow over the first three quarters of 2016. Growth accelerated as the year went by with the fourth quarter expected to be the highest-growth period for the year. The company is investing large amounts of capital. There will be little cash flow to spare over the next two years, which is why the stock does not pay a dividend. Investors looking for income may want to select a different telecom stock that pays dividends, and there are many to choose from. But Liberty Global could conceivably start paying a dividend at some point in the not-too-distant future, once its aggressive expansion period ends. In the meantime, the stock is reasonably valued and could generate double-digit earnings growth. Revenue is growing at a high rate, and Liberty Global will use more than $2 billion to buy back stock next year. This earnings growth means investors can earn satisfactory returns moving forward even without the benefit of a dividend. No. 14: AutoNation Dividend yield: N/A. Percentage of Gates' portfolio: 0.5%. P/E ratio: 13. AutoNation Inc. (AN) is America's largest automotive retailer. It owns and operates over 360 new vehicle franchises in 16 states. The company operates five segments: AN Segments Source: 2015 Annual Report, page 5 AutoNation has been successful growing the business over the past five years. From 2011 to 2015, sales and earnings per share increased by 8.5% and 15% per year. The company has benefited greatly from a strong operating environment. Auto sales are near a record, driven by attractive product offerings, access to affordable credit thanks to low interest rates and lower fuel prices. The market climate is supportive of auto sales, which is why new and used vehicle sales both increased 9% for AutoNation in 2015. Going forward, the company is in the process of rolling out its Brand Extension strategy. This involves further expanding its stand-alone preowned vehicle sales and service centers, branded parts and accessories, branded collision centers and its auto auction businesses. To help accomplish this, AutoNation recently announced the acquisition of three Premium Luxury franchises, one collision center and three Premium Luxury franchise add points. The assets acquired hold combined annual revenue potential of at least $430 million. Separately, the company is building its digital channel platform AutoNation Express. Digital channel sales now account for nearly 30% of vehicle sales. AutoNation does not pay a dividend, but it does return cash to shareholders through stock buybacks. The company has $316 million left on its current share price authorization, which amounts to approximately 6% of its market capitalization. All things being equal, AutoNation's buybacks will boost earnings per share by an additional 6% over the next year. The stock is cheap at a P/E ratio of 13. As a result, the combination of earnings growth and expansion of the valuation multiple, could lead to double-digit annualized returns going forward. No. 15: Liberty LiLAC Group Dividend yield: N/A. Percentage of Gates' portfolio: 0.16%. P/E ratio: 23. This share class corresponds to Liberty Global's LiLAC (LILAK) operating segment. LiLAC includes Liberty Global's Latin America and Caribbean businesses under the brands VTR, Flow, Liberty, Mas Movil and BTC. These are currently a small part of the overall business. LiLAC represents approximately 13% of Liberty Global's total annual revenue, but there is a lot of growth potential up ahead. LiLAC is poised to become a much bigger part of the company going forward as a result of the 2016 acquisition of Cable & Wireless Communications. The $7.4 billion deal added more than 10 million new customers in Latin America and the Caribbean. The CWC acquisition presents cost synergy opportunities. LILAC Synergies Source: Q3 Earnings Presentation, page 12 As a result, LiLAC's year-to-date revenue and operating cash flow doubled year over year through the third quarter. Another growth catalyst for LiLAC is to increase bundling of services. Nearly half of LiLAC's customers purchase only one service. The company will seek to expand on this moving forward. LILAC Bundling Source: Investor relations Bundling services is lucrative for telecommunications providers, which is why the practice is so common in the U.S. Liberty Global has a much higher percentage of triple-play customers in Europe, and it has served the company well. Like Liberty Global, LiLAC uses its cash flow to reinvest in the business and support its balance sheet. It does not pay a dividend. That being said, LiLAC also offers investors attractive return potential, from its future revenue and earnings growth. The company expects to increase operating cash flow by 7% to 9% each year over the next few years. No. 16: Arcos Dorados Holdings Dividend yield: N/A. Percentage of Gates' portfolio: 0.1%. P/E ratio: 18. Last but not least is Arcos Dorados (ARCO). Investors might not immediately recognize Arcos Dorados by its name, but they will certainly understand its business. Arcos Dorados is a holding company. Collectively, it is the largest McDonald's (MCD) franchisee in the world in terms of number of restaurants. It has the exclusive right to own and operate McDonald's restaurants in 20 Latin American and Caribbean countries and territories. In all, it operates or franchises over 2,100 McDonald's restaurants. Its geographic split is as follows: Brazil (45% of revenue). South Latin America Division (28% of revenue). Caribbean (14% of revenue). North Latin America Division (13% of revenue). Many of the countries in which Arcos Dorados operates are emerging markets. For example, sales in South Latin America and the Caribbean rose 24% and 27.6% through the first nine months of 2016. One downside for Arcos Dorados investors is that the stock does not pay a dividend. This might seem like a deal breaker since McDonald's itself is a legendary dividend stock. The upside for Arcos Dorados is that it is growing much faster than McDonald's. For example, on a constant-currency basis, revenue rose 15.3% in the third quarter. Some of this growth was due to aggressive new restaurant openings. In the past four reported quarters, Arcos Dorados opened 33 new restaurants and 133 Dessert Centers. Comparable-restaurant sales, a key metric for restaurant chains that measures growth at locations open at least one year, increased 11.3% last quarter. Double-digit comparable sales growth is virtually unheard of in the U.S. Overall adjusted EBITDA grew 24% last quarter. ARCO EBITDA Source: Q3 Results, page 3 A key factor boosting EBITDA is that, even with sales growing at a rapid pace, Arcos Dorados kept general and administrative costs flat. This indicates the company is doing a very good job boosting productivity. Disclosure: I am not long any of the 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 4 Warning Sign with BRK.A. Click here to check it out. BRK.A 15-Year Financial Data The intrinsic value of BRK.A Peter Lynch Chart of BRK.A || Bitcoin is zooming higher: Bitcoinis zooming higher on Tuesday, up 2.1% at $1,060.76 per coin as 9:43 a.m. ET. Tuesday's bid has the cryptocurrency higher for a ninth straight day and at its best level since January 5, when it put in a multi-year high of $1161.88.
While the catalyst for Tuesday's gain is difficult to decipher, the advance comes after data released by the People's Bank of China showed China's foreign currency reserves in Januaryfell below $3 trillionfor the first time in nearly six years. China's hunger for bitcoin has been well documented withnearly 100% of bitcoin's volumecoming from the country.
Bitcoinhas had a wild start to 2017 after gaining 120% in 2016. The cryptocurrency rallied more than 20% in the opening week of the year before tumbling 35% amid concerns China was going tocrackdown on trading. Bitcoin has recently shrugged off an announcement made by China's three largest bitcoin exchanges that they were going to begin charging a flat fee of 0.2% per transaction.
(Markets Insider)
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• Bitcoin is busting out || Bitcoin hits record high above $1,200 on talk of ETF approval: By Jemima Kelly LONDON (Reuters) - Digital currency bitcoin jumped to a record high above $1,200 on Friday, as investors speculated the first bitcoin exchange-traded fund (ETF) to be issued in the United States is set to receive regulatory approval. Traditional financial players have largely shunned the web-based "crytpocurrency", viewing it as too volatile, complicated and risky, and doubting its inherent value. But bitcoin, invented in 2008, performed better than any other currency in every year since 2010 apart from 2014, when it was the worst-performing currency, and has added almost a quarter to its value so far this year. It soared to as high as $1,200 per bitcoin in early Asian trading on Europe's Bitstamp exchange , before easing to about $1,190. http://reut.rs/2lR1Mqk That put the total value of all bitcoins in circulation -- or the digital currency's "market cap", as it is known -- at close to $20 billion, around the same size as Iceland's economy. Some analysts say regulatory approval of a bitcoin ETF would make the currency relatively attractive to the often more cautious institutional investor market. [nL8N1G85HI] But despite potentially high returns, low correlations with other currencies and assets, falling volatility and increasing liquidity, there is scant evidence so far that most major players are considering investing in the digital currency. "Bitcoin is just not liquid enough for us to even think about," said Paul Lambert, fund manager and head of currency investment at Insight, in London. "We manage billions and billions of dollars – we'd need to be able to go into that market and trade in hundreds of millions of dollars at a time, and my sense is it's not like that." Three ETFs that track the value of bitcoin have been filed with the U.S. Securities and Exchange Commission for approval. The SEC will decide by March 11 whether to approve one filed almost four years ago by investors Cameron and Tyler Winklevoss. If approved, it would be the first bitcoin ETF issued and regulated by a U.S. entity. (Reporting by Jemima Kelly, graphic by Nigl Stephenson) || Bitcoin exchange BTCC: China hasn't said margin trading illegal: By Brenda Goh SHANGHAI (Reuters) - The head of Chinese bitcoin exchange BTCC on Thursday denied media reports that the central bank had ruled it was offering margin loans illegally, and he said the platform is operating normally. However, Chief Executive Bobby Lee told Reuters the company had stopped offering margin loans last week alongside competitors such as Huobi and OkCoin, after "discussions" with the People's Bank of China (PBOC). He gave no details. "No one has said that margin trading for bitcoin is illegal," Lee said. He said the media reports were "not based on any official documentation. So as far as I'm concerned, at this moment, we have not received any official documentation, verbal or written feedback from the PBOC with regards to their conversations with us over the last two weeks." The PBOC declined to comment. Beijing Youth Daily, a state-run newspaper, said on Thursday that a PBOC investigation found that China's three largest bitcoin exchanges were illegally conducting margin trading, and such activity stoked abnormal market volatility. Another state-owned media, Economic Information Daily, said that the Shanghai branch of China's central bank had found "hidden risks" in BTCC. SPOT CHECKS On Jan. 11, the central bank launched spot checks on BTCC, Huobi and OkCoin to look into a range of possible rule violations, amid increasing government efforts to stem capital outflows and relieve pressure on the yuan currency. 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. Late on Wednesday, after some Chinese media reports were published, the price of bitcoin fell nearly 8 percent on the BTCC exchange to 5,724 yuan, equivalent to around $835. By Thursday, the price had recovered to around 6,120 yuan. Spokeswomen for OkCoin and Huobi confirmed to Reuters that their platforms had also stopped offering margin loans, but both did not respond to queries on whether they had received official notices from the PBOC. Story continues Lee of BTCC also said the exchanges had discussed introducing trading fees and were open to that, but said the regulator might have to get involved before this could happen. The absence of trading fees has encouraged volumes and boosted demand at the Chinese bitcoin exchanges. (Reporting by Brenda Goh; Editing by Richard Borsuk) || 10 things you need to know before the opening bell: (Show host John Cena gets slimed.Reuters/Mario Anzuoni)
Here is what you need to know.
Theresa May is getting ready to trigger Article 50.UK Prime Minister Theresa May will likely receive the authority to trigger Article 50in a vote on Monday evening. If it passes, as expected, May could begin the UK's process of leaving the European Union as early as Tuesday.
Japan's core machinery orders miss big.Data released by the Cabinet Office on Monday showed orders fell 3.2% month-over-month in January, missing the 0.1% dip that economists were anticipating. The Japanese yen is down 0.2% at 114.60 per dollar.
Oil's slide continues.West Texas Intermediate crude oil trades down 0.8% at $48.11 per barrel on Monday, its lowest since November 30, the day OPEC announced it was cutting production.
The SEC rejected the Winklevoss twins' Bitcoin ETF.Shortly after markets closed on Friday, the Securities and Exchange Commission handed down its ruling, saying it would disapprove the ETF as it believes "significant markets for bitcoin are unregulated" and therefore "the exchange has not entered into, and would currently be unable to enter into, the type of surveillance-sharing agreement that has been in place with respect to all previously approved commodity-trust ETPs..." Bitcoin tumbled more than 16% in the wake of the decision but has retraced the lion's share of those losses.
Mario Draghi speaks.ECB head Mario Draghi will speak in Frankfurt, Germany at 9:30 a.m. ET on "Fostering innovation and entrepreneurship in the euro area.
Intel is reportedly buying Mobileye.Shares of Mobileye are up 30% ahead of the opening bell following a report from Israeli newspaper Haaretz, citing sources, that suggests Intel has agreed to buy it for $15 billion.
Vista Equity Partners is nearing a deal to buy DH Corp.The firms are in advanced talks and an agreement could be announced as soon as this week, but could still fall apart, Bloomberg says, citing people familiar with the matter. Terms of the potential deal are unknown.
HSBC names a new chairman.The bank has named Mark Tucker, currentCEO and president of the insurer AIA, as its new chairman. Tucker is scheduled to begin on September 1.
A blizzard is bearing down on New York.The National Weather Service has issued a Blizzard Warning for New York City and Southern New York State that will be in effect from midnight tonight until midnight Tuesday night. The storm is expected to produce as much as 20 inches of snow accumulation and wind gusts up to 55 miles per hour.
Stock markets around the world are mixed.Hong Kong's Hang Seng (+1.1%) led the gains in Asia and Germany's DAX (+0.1%) clings to small gains in Europe. The S&P 500 is set to open down 0.1% near 2,370.
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• 10 things you need to know today || Is Warren Buffett Wrong About Bitcoin?: - By Nicholas Kitonyi
The future of the cryptocurrency industry is still clouded with doubt sinceWarren Buffett(Trades,Portfolio) has been one of the biggest critics of the market. Bitcoin is, by far, the leading unit in the cryptocurrency market and based on Buffett's comments over time, it is fair to say the legendary investor does not value it at all, let alone imagine a bright future ahead.
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In 2014, just after bitcoin hit an all-time high, Buffett warned investors to stay away from it, saying it was nothing more than a mirage. In response to a question regarding cryptocurrency by Dan Gilbert, the Quicken Loans founder, he said:
"It's a method of transmitting money. It's a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways and it will be. The idea that it has some huge intrinsic value is just a joke in my view."
When asked about bitcoin's future on CNBC's Squawk Box, Buffett said, "Stay away from it. It's a mirage, basically."
True to his word, bitcoin lost more than 80% of its value within the following year (falling from more than $1,000 a coin in December 2013 to about $200 in January 2015). After a 12-month hiatus in 2015 however, bitcoin has since recovered to rally close to the $1,000 level.
As demonstrated in the chart above, bitcoin's price appears to have picked up momentum over the last 12 months in a trend that took it to above $1,000 at the start of the year. Unlike the previous rally that took the price to an all-time high, this time around the trend has been more stable, with significant trackbacks and rebounds.
In 2013, the price of bitcoin spiked from a trading price of under $250 per unit to more than $1,000 within a couple of months as traders bought bullishly in a frenzy.
Now, based on the current Bitcoin price and its fluctuations over the last three years, it is safe to say the cryptocurrency has stabilized. As such, it looks as though bitcoin can be billed to have succeeded thus far. This is backed by the fact that several other companies, including BitGold and OneCoin, have launched their own types of cryptocurrencies.
This also shows people are putting trust in the infrastructure used by cryptocurrency companies to generate and manage the exchange of such currencies.
Blockchain, the infrastructure that supports bitcoin and several other applications, looks set to continue growing given the success of bitcoin thus far. Therefore, major technology companies likeInternational Business Machines(IBM) andMicrosoft Corp.(MSFT)are looking to capitalizeon the current bullish outlook of this technology and, as per recent reports, some are making huge investments in the market.
Blockchain is a new software technology that allows businesses to work together with trust and transparency. The network allows all parties involved access to an encrypted digital record of transactions that cannot be changed.
The technology can be applied in a variety of industries, especially in the financial sector. As of 2016, the blockchain market was valued at $210 million, but is projected to grow to more than $2 billion within the next five years.
Some of the biggest concerns facing bitcoin are issues regarding the security of transactions and its ability to deal with cases of money laundering. If more industries like the banking sector continue to use the same technology used by bitcoin however, this might work out to be a vote of approval for using bitcoin as a currency.
Nonetheless, this still does not answer Buffett's question on bitcoin. His keynote view was the fact that bitcoin is nothing more than a means of transmitting money, which means it is hard for it to gain intrinsic value over time.
However, when you assess Bitcoin as a currency, then we do know that all currencies have a certain value allocated to them. Paper currencies rely on the economic performance of a given country to gain or lose value. On the other hand, bitcoin is not tied to any individual country, which again raises the question of where the value creation comes from.
It is simple. The U.S. dollar does not strengthen against other currencies because of the strength of the U.S. economy, but rather because of the stability investors believe it possesses. As such, bitcoin traders have been betting on the cryptocurrency market believing it can provide the most stable currency in the future. That is why bitcoin has been rallying over the last 12 months.
Conclusion
In summary, Buffett might be right in the end about bitcoin's valuation being unreal. Given the current advances in the payments market and the growing use of internet banking across the world however, it is clear the cryptocurrency market remains to be a potential disruptor with bitcoin at the center of it all.
Disclosure: I have no position in any stock mentioned in this article.
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What would happen if you put three of the buzziest areas of finance—roboadvising, blockchain, and peer-to-peer lending—together?
LendingRobot Series, that's what.
The new robo-hedge fund, which combines cloud-based automation with machine learning technology, was launched on January 26 by LendingRobot, an alternative lending roboadviser based in Seattle, Washington. It's an extension of LendingRobot Classic, which automates management of existing peer-to-peer accounts, and has $120 million in assets.
Instead of putting money into typical assets such as stocks, bonds, and commodities, LendingRobot Series provides "accredited investors" a platform to invest in business, consumer, and real-estate loans across various peer-to-peer origination platforms, includingLending Club,Prosper, andFunding Circle. These investments can yield 8% to 10% returns, according to LendingRobot.
Investors on LendingRobot pick from one of four investment preferences or "Series," based on their appetite for risk: Short Term Aggressive, Long Term Aggressive, Short Term Conservative, and Long Term Conservative.
The firm manages all of its clients' investments using algorithms, rather than human money managers. This allows them to charge much lower fees compared to human-run funds. LendingRobot Series doesn't take a cut for performance. The fund charges a management fee of 1% and caps fund expenses at 0.59%.
And the firm usesblockchain, the technology behind the bitcoin currency, to allow investors to view their investments every week.
(LendingRobot Series uses blockchain technology to ensure transparency and trust.BTC Keychain)
"Unlike traditional hedge funds, they can see everything,"LendingRobot CEO Emmanuel Marot told Business Insider. "We're not just asking them to trust us blindly," he said.
The public ledger allows the firm's clients to see all the notes in which the Series has invested, the current value of those notes, and the amount of money that has been paid back on those notes.
The ledger is published under a hash code, which prohibits LendingRobot Series from changing anything.
"We can't fudge the numbers to give investors a different impression of what's going on, because it would change the entire hashcode in the blockchain, which would invalidate it," said Marot.
When asked if he foresees traditional hedge funds implementing some of the capabilities LendingRobot Series is utilizing to stay competitiveamid a number of industry pressures, Marot told Business Insider that there was no question.
"They have to change in order to adapt," he said. "If they don't, then they could potentially face the same fate as travel agencies, for instance, when companies like Expedia entered the market."
"No one fifteen years ago would have thought travel agencies were going anywhere, and now look where they are today," he added.
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• Some of the UK's hottest fintech startups went down on Sunday — here's why || Did You Hear About MIT's New Civil Disobedience Award?: Did you hear about the MIT Media Lab's new proposition? If not, it's simple: win $250,000 by breaking the rules or shaking up the status quo. Yes, that's right. The MIT Media Lab's "Disobedience Award" will be presented to "a person or group engaged in what we believe is an extraordinary example of disobedience for the benefit of society." MIT explained that the winner needs to abide to non-violence measures and isn't limited to specific disciplines, such as scientific research, civil rights, freedom of speech, human rights and the freedom to innovate. Don't Count On A NYSE-Listed Company On Winning Needless to say, Western corporations follow the law and there are few, if any, companies that are "self-sacrificial" for the common good. Companies may take a stance, such as Apple Inc. (NASDAQ: AAPL ) refusing to comply with an FBI order to assist the government in unlocking an iPhone used by one of the terrorists involved in the San Bernardino attack. Bitcoin? It would be reasonable to assume a Bitcoin company could be considered for the award. The anonymous digital currency offers individuals across the world the ability to move money without government surveillance. This is especially true in heavily restricted countries like China where individuals aren't permitted to move $50,000 outside of the country. Are there any companies you think could or should be up for the award? See Also: Tim Cook: FBI Is Asking Apple For Something Too Dangerous To Create Brave New Coin Is The Bloomberg Of Blockchain See more from Benzinga Attention Detroit Entrepreneurs: Google Demo Day Is Right Around The Corner McDonald's Mobile Ordering Is Now A Reality Goldman Highlights Positive iPhone Data Out of China, Taiwan © 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin exchange BTCC: China hasn't said margin trading illegal: By Brenda Goh SHANGHAI (Reuters) - The head of Chinese bitcoin exchange BTCC on Thursday denied media reports that the central bank had ruled it was offering margin loans illegally, and he said the platform is operating normally. However, Chief Executive Bobby Lee told Reuters the company had stopped offering margin loans last week alongside competitors such as Huobi and OkCoin, after "discussions" with the People's Bank of China (PBOC). He gave no details. "No one has said that margin trading for bitcoin is illegal," Lee said. He said the media reports were "not based on any official documentation. So as far as I'm concerned, at this moment, we have not received any official documentation, verbal or written feedback from the PBOC with regards to their conversations with us over the last two weeks." The PBOC declined to comment. Beijing Youth Daily, a state-run newspaper, said on Thursday that a PBOC investigation found that China's three largest bitcoin exchanges were illegally conducting margin trading, and such activity stoked abnormal market volatility. Another state-owned media, Economic Information Daily, said that the Shanghai branch of China's central bank had found "hidden risks" in BTCC. SPOT CHECKS On Jan. 11, the central bank launched spot checks on BTCC, Huobi and OkCoin to look into a range of possible rule violations, amid increasing government efforts to stem capital outflows and relieve pressure on the yuan currency. 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. Late on Wednesday, after some Chinese media reports were published, the price of bitcoin fell nearly 8 percent on the BTCC exchange to 5,724 yuan, equivalent to around $835. By Thursday, the price had recovered to around 6,120 yuan. Spokeswomen for OkCoin and Huobi confirmed to Reuters that their platforms had also stopped offering margin loans, but both did not respond to queries on whether they had received official notices from the PBOC. Story continues Lee of BTCC also said the exchanges had discussed introducing trading fees and were open to that, but said the regulator might have to get involved before this could happen. The absence of trading fees has encouraged volumes and boosted demand at the Chinese bitcoin exchanges. (Reporting by Brenda Goh; Editing by Richard Borsuk)
[Random Sample of Social Media Buzz (last 60 days)]
Philippines Set To Turn into Top Healthcare Outsourcing Destination http://dlvr.it/NNy64t #Bitcoin #Venezuela || Missed out on #bitcoin? then join Swisscoin Today https://www.linkedin.com/pulse/missed-out-bitcoin-join-swisscoin-today-swisscoin-burger …pic.twitter.com/YCiP1x4KKR || #DigitalNote #XDN $0.000112 (1.93%) 0.00000011 BTC (-0.06%) || Earn FREE cash, bitcoin NOW http://how-do-i.co #entrepreneur #fast #startup #bitcoin #mlm #bitcoin pic.twitter.com/0BXL579Nno d || Getting Started With Bitcoin Investment For Profit, bitcoin double multiply . http://ow.ly/gBE93092XJE || Join ExploreTraveler in the BitCoin Revolution
http://lnkplg.co/7wRmA pic.twitter.com/LOQXZlmtMO || Buy Bitcoin anywhere in the world - $50.00
#Items4Sale
List ur biz at http://blacktradelines.com pic.twitter.com/JrWIcSwhKy || The SMART Way To #Mine - SAVE 3% W/ Coupon Code 8rRBkl
http://dld.bz/ePx6q
#bitcoin #ether #ethereum #x11pic.twitter.com/2v9yxi9525 || LOVE!!ItalyWe hope to help, thank you.
/bitcoin 1896UwURka9J4MCbSdwfMc1pynArfWYXUf
/amazon.com Wish List http://www.amazon.com/gp/registry/wishlist/ref=nav_youraccount_wl?ie=UTF8&requiresSignIn=1 … || UPDATE: ransomers contacted me from a blocked number. Said they want to negotiate with using Bitcoin as payment to get my accounts back.
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Trend: down || Prices: 1100.23, 973.82, 1036.74, 1054.23, 1120.54, 1049.14, 1038.59, 937.52, 972.78, 966.72
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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 2017-12-20]
BTC Price: 16624.60, BTC RSI: 59.22
Gold Price: 1266.10, Gold RSI: 50.31
Oil Price: 58.09, Oil RSI: 58.58
[Random Sample of News (last 60 days)]
Citron Calls Roku A 'Total Joke': Notable short seller Citron Research Tweeted on Tuesday that Roku Inc (NASDAQ: ROKU ) is a bubble that could move "much lower." What You Need To Know Citron cited RBC analyst Mark Mahaney, who has a $28 price target on Roku, and that Needham's Laura Martin's price target is "irresponsible." "Unless $ROKU finds a way to stream a BTC - this stock is MUCH LOWER...caveat emptor," the Tweet said. Citron didn't follow up with a justification for its thesis (although Andrew Left will appear on CNBC Wednesday afternoon), but data from FIS Astec Analytics may confirm Citron's short stance. Astec Analytics offers up-to-date, intraday short selling market insight via securities lending analytics and identified Roku as one of the hottest stocks being shorted by investors. After Roku's stock bottomed at $15.75, many investors are sitting on triple-digit percentage gains as shares closed last week at $39.47. However, many short investors are aware the company is unlikely to earn a profit until 2020 and the stock by some metrics is bloated. Specifically, Roku's stock is trading at a price to earnings ratio of 7.2 compared to Netflix, Inc. (NASDAQ: NFLX ) at 7.3 and Apple Inc. (NASDAQ: AAPL ) at 3.2. Why It's Important "Short sellers, despite closing off around 10 percent of their open positions in the last week, have seen utilization grow by more than 10 percent as supply has been contracting, probably as a result of early investors banking their gains," Astec Analytics said in a report. "Significant short interest remains, positioned to take advantage of any bursting bubbles as Roku." What's Next? Roku's stock hit a new 52-week high of $51.80 on Tuesday but Citron's Tweet may have hampered the sentiment as shares were seen trading at $47.25, up just 2.4 percent on the day at time of publication. Related Links: Here's Why Roku's Volatility Is OK With This Equity Strategist Expert: Roku's Post-Q3 Run Could Be Masking Balance Sheet Concerns Image Credit: Mattnad - Own work, CC BY-SA 3.0, via Wikimedia Commons Story continues Latest Ratings for ROKU Nov 2017 Needham Reiterates Buy Buy Nov 2017 Oppenheimer Downgrades Perform Underperform Nov 2017 Morgan Stanley Maintains Equal-Weight View More Analyst Ratings for ROKU View the Latest Analyst Ratings See more from Benzinga Here's Why Roku's Volatility Is OK With This Equity Strategist Expert: Roku's Post-Q3 Run Could Be Masking Balance Sheet Concerns Roku CEO: 'Everyone Over Time Is Going To Shift Toward Streaming' © 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Brokerage Chief: Bitcoin Futures Must Be Quarantined: A well-known electronic brokerage firm is issuing dire warnings against the CME Group's plan to launch a bitcoin futures contract next month. But Interactive Brokers, in a comment letter dated Nov. 14, suggested a way to mitigate the risk it sees from such activity: The Commodity Futures Trading Commission (CFTC), under the auspices of J. Christopher Giancarlo, should sequester systems that handle cryptocurrency derivatives. "This letter is to request that the Commission require that any clearing organization that wishes to clear any cryptocurrency or derivative of a cryptocurrency do so in a separate clearing system isolated from other products," wrote Thomas Peterffy, chairman of Interactive Brokers. The open letter, published on the firm's website (and reportedly included in a full-page ad in today's Wall Street Journal ), comes on the heels of CME's announcement that it would look to offer cryptocurrency-tied derivatives products. Earlier this week, CME CEO and chairman Terry Duffy indicated that the first product could go live as early as the second week of December. Yet that outcome would pose a significant danger, Peterffy argued, suggesting that a hypothetical plunge in the price of a particular cryptocurrency could send CME reeling financially. He went on to write: "If the Chicago Mercantile Exchange or any other clearing organization clears a cryptocurrency together with other products, then a large cryptocurrency price move that destabilizes members that clear cryptocurrencies will destabilize the clearing organization itself and its ability to satisfy its fundamental obligation to pay the winners and collect from the losers on the other products in the same clearing pool." Doubling down on the argument, Peterffy went on to write that "a catastrophe in the cryptocurrency market that destabilizes a clearing organization will destabilize the real economy." "The only way to protect clearing organizations and their members (and the financial system as a whole) from the unique risks inherent in clearing cryptocurrencies is to require that they be cleared in a separate clearing system, isolated from other products," he concluded. Disclosure: CME Group is an investor in Digital Currency Group, CoinDesk's parent company. Medical scientist wearing protective clothing image via Shutterstock Related Stories CME's Bitcoin Futures Likely to Start Trading December 11 FUD From All Sides: In Defense of CME's Bitcoin Futures Plan First Long-Term LedgerX Bitcoin Option Pegs Price at $10,000 Swiss Firms to Let Traders Short Bitcoin With New Futures Products View comments || North Korea hackers steal bitcoin by targeting currency insiders: Bitcoin values are skyrocketing, andNorth Koreaappears to be trying to profit from that virtual gold rush. Secureworksreportsthat theLazarus Group(a team linked to the North Korean government) has been conducting a spearphishing campaign against cryptocurrency industry workers in a bid to steal bitcoin. The attacks have tried to trick workers into compromising their computers by including a seemingly innocuous Word file that claims they need to enable editing to see the document. If they fell prey, it installed a rogue macro that quietly loaded a PC-hijacking trojan while staffers were busy looking at the bogus document.
Attempts have been taking place as recently as November, but Secureworks' analysts saw activity as early as 2016. The organization adds that the campaign is likely still going, and that this is a preliminary report. You may get a better sense of the scope in the future.
It's easy to see why Lazarus would try a campaign like this. It has already conducted money-grabbing efforts like the 2016 bank attack thatswiped $81 million, and taking even a handful of bitcoins could reap a windfall when just one is worth roughly $19,400 as of this writing. North Korea could spend relatively little effort to swipe a lot of money and circumvent the many sanctions that prevent money from flowing in. || Bitcoin Cash, Litecoin and Ripple Daily Analysis – 19/12/17: Bitcoin Cash jumped from $1,840 to $2,318.7 in a matter of hours on Monday to hit a new record high, with the gains coming off the back of Bitcoin’s sideways moves through the day.
A number of factors are likely to have contributed to Bitcoin Cash’s new found lease of life including the fall in CME Bitcoin January Futures, which appears to have stifled Bitcoin’s 2017 record breaking runs.
Another driving force could also be increased speculation that Bitcoin could be getting ready for a tumble. Concerns over Bitcoin network stability have raised doubts over whether investors will stick with Bitcoin or begin switching out into Bitcoin Cash and Litecoin, which are considered to be Bitcoin’s main competitors.
We had seen the effects of transaction backlogs on Bitcoin’s valuations last week and another similar outage could see Bitcoin futures and Bitcoin fall back to sub-$17,000 levels. If the institutional money begins to show doubts over the future prospects of Bitcoin through the futures markets, things could get worse, which would be a positive for Bitcoin Cash.
At the time of writing, Bitcoin Cash is down 0.70% at $2,134, with Bitcoin also in the red, down 0.3% to $18,884.06.
Rising support for Bitcoin Cash should support $2,100 levels, with the next target for Bitcoin Cash being $2,500, which could be hit in the coming days should more prominent members of the cryptoworld step out in support of Bitcoin Cash.
Get Into Bitcoin Cash Trading Today
Litecoin is on the move this morning, up 3.64% to $372.49 at the time of writing. Interestingly, the negative sentiment towards Bitcoin that seems to be doing its rounds this week has provided greater support for Litecoin over Bitcoin Cash, with investors holding on to Monday’s gains through the early part of today.
We could begin to see Litecoin benefitting from any downward pressure on the CME and Cboe Bitcoin futures prices, with today’s fall in Bitcoin providing strong support for Litecoin.
How the futures markets perform through the day will be of importance, as will be any further negative chatter on Bitcoin through the day. Breaking through $375 levels could give Litecoin a run at $400, which hasn’t been breached since 12thDecember.
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The cryptophoria has certainly gripped the major cryptocurrencies in recent weeks and Ripple is amongst them. We saw Ripple pull back from $0.88 record high going into the weekend, hitting the low $0.70s
The latest bounce in Bitcoin Cash and Litecoin has seen Ripple move back to $0.80 levels to lead the pack through the early part of the day, gaining 8.95% to $0.8226.
Sentiment towards Ripple’s blockchain technology is central to the continued support seen for Ripple at current levels. With Ripple having put into escrow the vast majority of their coins, market appetite for Ripple will likely build in the coming weeks, as investors search for viable blockchain technologies to park their money in. Bitcoin’s current levels and the issues faced on the Bitcoin network will be of particular support.
For the day ahead, we’ll need to see Ripple break past $0.88 levels to have a good run at $1.00, which would be quite a milestone when considering the fact that Ripple was priced at just $0.24 last week.
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Thisarticlewas originally posted on FX Empire
• Positive Global Sentiment after Wall Street Record Breaking
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• Oil Price Fundamental Daily Forecast – Traders Expect API Report to Show Another Draw || Coinbase halts ether and litecoin trading as cryptocurrency market approaches $500 billion: Screen Shot 2017 12 12 at 12.09.40 PM MI Coinbase, the popular cryptocurrency trading platform, blocked users Tuesday from buying red-hot litecoin and ether . Investors poured into the two red-hot digital currencies Tuesday morning, pushing them both to new heights. On Tuesday, litecoin hit a record of $312, and ether soared to more than $600 for the first time. The cryptocurrency market is gunning for $500 billion. Cryptomania has propelled two lesser-known cryptocurrencies to record highs Tuesday, forcing one exchange to halt trading. Screen Shot 2017 12 12 at 1.01.59 PM Coinbase Coinbase on Tuesday halted trading of red-hot litecoin and ether , according to cryptocurrency watcher CoinDesk. The publication tweeted a photo showing Coinbase "temporarily disabled" trades of the two digital coins on its platform. Coinbase's status page showed ethereum and litecoin were experiencing major outages. Both litecoin and ether hit all-time highs Tuesday morning. Ether hit $600 a token, while litecoin gained more than 40% to $312. Across the market for digital coins, new investors are pouring in. The 10 largest cryptocurrencies were all trading in the green Tuesday, according to data provider CoinMarketCap . At the time of print, the entire market nearly reached $500 billion. Cryptocurrencies volumes approached record highs above $35 billion. The launch of bitcoin futures by Cboe Global Markets, the Chicago exchange group, further pushed bitcoin and other cryptocurrencies into the spotlight. The new futures market, which went live Sunday, could pave the way for a bitcoin-linked exchange-traded fund and dampen bitcoin's spine-tingling volatility. Of course, the 1,000% plus returns across the market has also piqued the interest of Wall Street and Main Street investors. Enthusiasts think the newfound interest in the crypto world will intensify in 2018. "2018 will be the year of mass public awareness for bitcoin and cryptocurrency," Perry Woodin, CEO of Node40, said in prepared remarks sent to Business Insider. "It is going to be the year when every friend and relative will want to know how much you have and how to purchase it." Story continues Still, many market watchers see a massive bubble in the crypto-market. Even Mike Novogratz, a famed hedge fund manager turned crypto-investor, called it "the biggest bubble of our lifetimes." Litecoin's founder also chimed in on the frenzy. The former director of engineering at crypto exchange Coinbase tweeted a dire warning for potential litecoin holders Monday night: "Sorry to spoil the party, but I need to reign in the excitement a bit…," he wrote . "Buying LTC is extremely risky. I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can't handle LTC dropping to $20, don't buy!" A spokeswoman for Coinbase told Business Insider, "The site is seeing high traffic volume at the moment and some users may be experiencing intermittent service outages." NOW WATCH: Economist Jim Rickards on gold versus bitcoin — intrinsic value is meaningless for both but the bitcoin prices aren't real See Also: Bitcoin tops $16,000 after wild 48 hour surge There's an argument brewing over the launch of bitcoin futures Blockchain developers are earning $180,000 a year as the Swiss crypto industry booms || Bitcoin Breaks $9,000 In Another All-Time High: The price of the cryptocurrency Bitcoin has risen more than 12% in the last week, moving past $9,000 early Sunday morning to yet another in a long string of all-time highs. The cryptocurrency’s total market value is now more than $150 billion.
Other cryptocurrencies have also had a very strong week, with Ethereum and Bitcoin Cash also up for the week.
This continues a roughly eight-month winning streak for Bitcoin and other cryptos, which use decentralized ledgers and cryptographic security to move value over the internet. Since April 20, when it was worth just over $1,200 (per Coinmarketcap.com), Bitcoin has risen nearly 650%.
The extended surge can be explained most of all by the entrance of a broader swathe of global retail investors into the market. Previous Bitcoin surges generated headlines and gave skeptics a chance to familiarize themselves with the technology, but it’s far easier for individuals to actually buy cryptocurrency today, through a huge number of online exchanges, than it was back in 2013.
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All that retail enthusiasm has generated an array of sketchy “initial coin offerings” and even outright scams, signals of a bubble swimming with less-knowledgeable buyers. But the market has also weathered a number of setbacks, including amajor crackdownby the Chinese government and a divisiveupgrade controversy, without losing steam, suggesting at the least that buyer enthusiasm is durable.
Another fascinating indicator, highlighted last weekby Bloomberg, is the adoption of Bitcoin by U.S. survivalists or “doomsday preppers,” who increasingly believe it will (somehow) be more useful after a major disaster than gold or U.S. dollars.
The latest price landmark is also notable because it tees Bitcoin supporters up to adapt one of the internet’s most enduring memes.
For the uninitiated, it’s a reference to the Japanese animeDragonBallZ. || Bitcoin Price Falls to 5-Day Low Following Fork Currency Creation: The price of bitcoin fell to a five-day low today, though the reasons why are perhaps complex to unpack. At press time, the bitcoin-US dollar ( BTC/USD ) exchange rate is $5,710, up from a daily low of $5,560. As per CoinMarketCap, week-on-week, BTC is up 3.3 percent, while on a monthly basis, it's up 55 percent. However, if you're looking for a culprit for the dip, industry observers are so far pointing to the creation of bitcoin gold yesterday. A new cryptocurrency cloned from bitcoin, bitcoin gold is now in the process of " forking " to a new blockchain (with new rules), a process by which the bitcoin blockchain is copied and new digital assets are distributed to existing bitcoin owners. As put forward by analysts including Blockchain Capital's Spencer Bogart, a former head of research and Needham and Co., the decline could be a sign investors are moving money to alternatives now that bitcoin gold has initiated the fork . Bogart's argument is that bitcoin rallied ahead of the launch in anticipation that holders would be credited with bitcoin gold. However, it's unclear whether this could be the case. As the new cryptocurrency was not yet distributed, investors may have simply switched out of bitcoin positions on the basis further sell pressure is ahead on the distribution. But, while it's too early to tell, the next question is simply, is the pullback in bitcoin over? Price action analysis suggests a potential for further losses. Daily chart Bitcoin gold aside, the retreat from the record highs above $6,100 can also be credited to overbought technical conditions, and in this light, considered to qualify as a healthy correction. The chart above shows: Bearish price-relative strength index (RSI) divergence Bearish price-money flow index ( MFI ) divergence Rising trend line (dotted blue line) support is seen around $5,280 levels View The doors are open for a drop to $5,280 levels. Only a daily close below $5,280 would signal the rally from the September low of $2,980 has topped out above $6100 levels. Story continues Bullish scenario - A move above 5-day moving average level of $5,950 could yield a re-test of record highs above $6,100. Plastic forks via Shutterstock Related Stories Jeff Garzik Startup Bloq to Launch Cross-Blockchain Cryptocurrency Ether Price Hits One-Month Low Below $280 Prepping for a Pullback? Bitcoin Price Drops Below $6,000 Bitcoin Breather? Higher Price Push Still Possible on Search Demand || Metatron ($MRNJ) Announces Initial Coin Offering Tracker App And Live CEO Interview Today!: DOVER, DE / ACCESSWIRE / October 25, 2017 /Metatron (OTC PINK: MRNJ), an emerging pioneer of releasing Marijuana & CBD-related apps on iTunes and Google Play, is pleased to announce it has in development a crypto-currency based app that will track all the tokens and coins existing now and ones coming out in the near future.
Metatron is exploring a CBD/Hemp based coin and has laid the foundation for its release, but due to the unclear legal environment related to cryto- currency the company is in a holding pattern. In the meantime as the developer of over 2000+ apps with over $3.5M+USD in historical sales, the company is developing an app/portal that will track the prices and market conditions of current virtual coins and initial coin offerings.
"Cannabis and Crypto-Currencies like Bitcoin and Etherium will be some of the biggest dollar markets in history and we here at Metatron intend to be a part of these ever growing industries," stated CEO Joe Riehl. Metatron is working with potential partners to expedite this move into the medical aspect of the Cannabis revolution that has established grow and extraction capabilities established and producing.
If you would like to submit questions to the Metatron CEO Joe Riehl and listen in on a live interview please tune into the popular Patricia Steere talk show today at 3pm PST.
Direct live link:http://bit.ly/metatronceoDownload her app:http://apple.co/2gGQF2F
The company is also pleased to announce a formal offer toBuzzlink.com, a cannabis e-commerce platform for dispensaries and consumers. Buzzlink.com will be financed partially by the issuance of preferred B series shares.
Metatron approved investors can acquire Series B shares in blocks of various sizes starting at 1k and recently increased discounts. The first round investors will receive the highest discount. Series B shares can be redeemed through the Company, are immune to reverse splits, and will convert at 1 B share to 50,000 common shares at a 60% discount. There are a limited number of B shares available and Metatron reserves the right to end offering at any time.
We would also like everyone to to a look at up and coming apphttp://wherewedrink.coma new app that will revolutionize the bar industry. Metatron does not currently have a financial interest in the app or company but likes to support the work of great local app developers. "Get on board early...this one will is a game-changer" states Joe Riehl.
Details available athttp://metatroninc.com/series- b/orhttp://www.metatronstock.com.
Metatron's Apps:iTunes:https://itunes.apple.com/us/artist/i-mobilize-inc./id325075390Google Play:https://play.google.com/store/apps/developer? id=Metatron+IncFacebook:http://www.facebook.com/metatronincTwitter:http://twitter.com/metatronincNews:http://metatroninc.com/blog
Forward-Looking Statements:
Any statements made in this press release which are not historical facts contain certain forward-looking statements, as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results of the specific items described in this release, and the company's operations generally, to differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's need for additional financing, which is not assured and which may result in dilution of shareholders, the company's status as a small company with a limited operating history, dependence on third parties and the continuing popularity of the iOS operating system, general market and economic conditions, technical factors, receipt of revenues, and other factors, many of which are beyond the control of the company. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of such statements, and we disclaim any obligation to update information contained in any forward-looking statement. Metatron does not grow, sell or distribute any substances that violate United States Law or the Controlled Substances Act.
Metatron, Inc. [email protected]
SOURCE:Metatron, Inc. || Bitcoin Surges for Second Day in Row, Breaks $15,000: Bitcoin continued surging for the second day in a row on Thursday to break through yet another psychologically important level with ease. The digital currency is now rapidly approaching the $15,000 mark as inventors’ demand soared ahead ofthe official launch of Bitcoin futures from multiple exchanges in the United States.
The price of Bitcoin started Wednesday below $12,000 before going through a major rally that pushed the price all the way to about $14,700 today. The spree of gains, which is baffling experts who believe the valuation of Bitcoin has formed a bubble that should have popped a while ago, appears to be driven by rising demand in South Korea. A recent buying frenzy in the Asian nation saw speculators stocking up on the digital currency ahead of the launch of Bitcoin futures in the United States.
Bitcoin’s two-day run increased the value of the virtual currency more than $3,000 per token, an increase that investors used to believe would normally take place over months or at least weeks. The run even outperformed Bitcoin’s rapid jump from $10,000 to $11,000 in less than 12 hours on November 29. The cryptocurrency gained more than 1,370% since the current year started.
Soaring demand for Bitcoin in South Korea came as the nation maintained its ban onInitial Coin Offerings, which forced investors to shift their focus to major cryptocurrencies. This has reflected most on the price of Bitcoin on several South Korean exchanges, which has reached more than $17,000 on exchanges likeBithumb.
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The total value of digital assets, which include Bitcoin,Ethereum,Bitcoin Cash, and other cryptocurrencies, is now less than $10 billion away from $400 billion, from a little over $17 billion when 2017 began. Bitcoin accounts for about 60.5% of the digital currency market.
However, Bitcoin’s rapid climb made many investors unable to shake off the feeling that a sharp drop is imminent.Some experts believe that the gains are not sustainable, which they say should lead to a price correction in the near future.
BTC/USD was trading at 14,892.5 on the as of 13:35 GMT on Thursday after rising to 14,849.4 at 10:55 GMT, the pair’s highest level in history. BTC/USD began trading today at 13,714.2.
This post was originally published byEarnForex
Thisarticlewas originally posted on FX Empire
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• Daily Market Forecast, December 7, 2017 – EUR/USD, Gold, Crude Oil, USD/JPY, GBP/USD || Will Bitcoin Collapse or Grow to Reach 100K?: The activation of Segwit and the Lightning Network wasnt sufficient to cope with the CBOEs launch of Bitcoin futures , leading to approximately 200K incomplete transactions on the Bitcoin network. In addition, Bitcoin payment fees have increased approximately 100 times, from 20 cents to $20, and companies have started to react to this change. Steam, the digital distribution platform, has announced that it will no longer accept payments in Bitcoin. The high speculative demand for Bitcoin could lead to a technical collapse and, as a consequence, investors could start to dump the asset, provoking a large-scale and lengthy correction. If this is the case, the price of Bitcoin may fall to as low as $3,300 in 2018, a price it last reached on 15 September , when the speculative demand surrounding Bitcoin began. Suggested Articles How to Buy Bitcoin? How Blockchain will change our Life, Economy and the World If Bitcoin Crashes: how Can you Short Bitcoin? Altcoins could see significant growth throughout 2018, with DASH in high demand due to its decentralized governance system and Monero due to the anonymity it provides as well as IOTA due to its innovative technology . Waves may also be in demand as, like Ethereum, it allows users to create new tokens on the platform, but with the added benefit of being able to pay transaction fees in the native Waves token. In fact, Bitcoin may become the Yahoo of the cryptocurrency market, once an industry-leader, only to be surpassed by innovative competitors, the Googles of the cryptocurrency world. Countless BTC forks could disappear, while the market balance could change drastically, as speculative mania is replaced by demand for the technology itself. However, if the Bitcoin networks technical problems can be solved, this may inspire investors and reinforce a rally, which could see Bitcoin soar to reach the popular forecast of 100K per coin. This article is written by FxPro This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Futures (GC) Technical Analysis December 14, 2017 Forecast No Surprises: The Fed Hike Rates, BoE Keeps Rates Unchanged and ECB
Daily Market Forecast, December 14, 2017 EUR/USD, Gold, Crude Oil, USD/JPY, GBP/USD EURUSD, Gold and USDSGD. Situation between major central banks announcments EUR/USD Mid-Session Technical Analysis for December 14, 2017 E-mini S&P 500 Index (ES) Futures Technical Analysis December 14, 2017 Forecast
[Random Sample of Social Media Buzz (last 60 days)]
こんばんは。 bitcoin priceという || I liked a @YouTube video http://youtu.be/qsRkoAgvXso?a Whalepool: Live Bitcoin / Cryptocurrency Trading Pit || Tiffany Haddishちゃんが || 1,000 people own 40% of the bitcoin market https://bloom.bg/2kBUVCb pic.twitter.com/oqwg53gUa7 || #Bitcoin -16% 13200 #buonsabato || Took some positions in $NEO $OMG $DASH and put in a limit order for $RDN. Not sure bitcoin is done pumping yet, but at these prices it is worth it to start to getting into alts at close to late spring/early summer lows. || Rank: 7
Price ($): 102.91
Price (BTC): 0.00842575
Cap ($): 5,572,817,095.00
Last hour: -0.57%
$LTC || こんばんは。 bitcoin priceという || Die derzeit explosivste Kryptowährung ist nicht #Bitcoin - #IOTA im Fokushttp://www.finanzen.net/nachricht/devisen/bitcoin-konkurrent-iota-die-derzeit-explosivste-kryptowaehrung-ist-nicht-bitcoin-5855714 … || I’m by no means a cryptocurrency nut and buy into none of the common “bitcoin politics” but the tulip thing is getting old
|
Trend: down || Prices: 15802.90, 13831.80, 14699.20, 13925.80, 14026.60, 16099.80, 15838.50, 14606.50, 14656.20, 12952.20
|
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 2022-10-14]
BTC Price: 19185.66, BTC RSI: 44.98
Gold Price: 1641.70, Gold RSI: 38.23
Oil Price: 85.61, Oil RSI: 48.09
[Random Sample of News (last 60 days)]
7 High-Risk Stocks to Buy for Huge Rewards: In almost every case, financial advisors will steer investors away from high-risk stocks to buy, in part because such experts don’t want to be held liable for giving terrible guidance. For the record, it’s the same case here. No one reading this article should bet too heavily on these ideas because they might go sour.
At the same time, the framework for high-risk stocks to buy will always command appeal. Primarily, investors can possibly enjoy substantial rewards with minimal funds at risk. To use an extreme example, at one point, major cryptocurrencies could be had for mere pennies. Now, they sit on multi-billion-dollar market valuations.
Nevertheless, as the name suggests, high-risk stocks to buy are just that — high risk. While it’s always possible to make big gains with these ideas, various headwinds could easily send them sinking. But if you’re willing to take that chance for a shot of glory, these public companies might be up your alley.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
[{"Ticker": "AXON", "Company": "Axon Enterprise", "Price": "$112.99"}, {"Ticker": "WOOF", "Company": "Petco", "Price": "$15.07"}, {"Ticker": "DASH", "Company": "DoorDash", "Price": "$57.61"}, {"Ticker": "RKLB", "Company": "Rocket Lab", "Price": "$5.23"}, {"Ticker": "MOB", "Company": "Mobilicom", "Price": "$2.62"}, {"Ticker": "UROY", "Company": "Uranium Royalty", "Price": "$2.89"}, {"Ticker": "FLNCF", "Company": "Freelancer", "Price": "$0.18"}]
Source: T. Schneider / Shutterstock.com
A specialist in non-lethal weapons and body-camera technologies,Axon Enterprise(NASDAQ:AXON) serves law enforcement, military and civilian needs. Best known for its Taser less-than-lethal weapons, Axon focuses on allowing its operators to neutralize threats while minimizing the risk of causing permanent consequences. True, in many cases, police officers find themselves thrust into impossible situations. But for everything else, Axon helps navigate a tricky environment.
Without getting bogged down in the various controversies, it’s safe to say that significant changes impacted law enforcement protocols. Today, the public scrutinizes police interactions with the communities they serve with a much more powerful magnifying glass than before. Further, this inquiry imposes stress on law enforcement officers.
In fact, theWall Street Journalreported thatmany agencies encounter difficulties keeping and recruiting police officers. To help restore trust, Axon provides tools that enable police to secure suspects without permanent damage. As well, body cameras keep all officers accountable for their actions. Therefore, from a fundamental perspective, AXON is one of the high-risk stocks to buy.
Source: Walter Cicchetti / Shutterstock.com
Aside from electric vehicles being the future of transportation, a common aphorism is that Americans love their pets. In many households, four-legged creatures occupy the same status as human family members. Therefore, pet products and accessories retailerPetco(NASDAQ:WOOF) carried high hopes among market bulls ahead of its second quarter. Unfortunately, the company disappointed badly.
I provided abreakdown of Petco’s Q2 results. But here’s the CliffsNotes version. Petco’s adjusted earnings per share hit 19 cents, which came in below FactSet’s consensus target of 22 cents. For the top line, the company posted sales of $1.48 billion. Again, this metric missed the consensus target, which called for $1.5 billion.
Add in a guidance downgrade and you can see why WOOF stock is down over 25% on a year-to-date basis.
Still, what might convince investors to maintain faith in Petco as one of the high-risk stocks to buy is the broader industry. According to the American Pet Products Association, the U.S. pet industrydelivered revenue of $123.6 billion in 2021, up 19.3% from a year prior.
Source: Sundry Photography / Shutterstock.com
While food-delivery platformDoorDash(NYSE:DASH) may have appealed to investors before the pandemic, the reality is that the company launched its initial public offeringduringthe Covid-19 breakout. It did well initially, though shares eventually crumbled. At the time of writing, DASH finds itself down about 58%.
What’s particularly problematic for DoorDash is consumer sentiment. According to thelatest policy statementsfrom Federal Reserve chair Jerome Powell, the central bank remains committed to attacking inflation. However, to do so requires raising interest rates, which may then create “some pain.” Against this backdrop, it’s hard to imagine consumers willing to fork over premiums for food deliveries.
So, why consider DASH as one of the high-risk stocks to buy? Namely, as employers pressure their workers toreturn to the office, many will likely relent. Subsequently, food deliveries to office locations may rise. In addition, corporate get-togethers could also drive up sales.
Source: Andrzej Puchta / Shutterstock.com
Space may be the final frontier and its underlying market may very well be incredibly lucrative. According to Morgan Stanley, its research arm projects that by 2040, thespace economy will command a valuation of $1.1 trillion. It’s not the only organization that features high hopes for the great beyond.
The U.S. Chamber of Commerce estimates that the market will command a valuation of $1.5 trillion, also by 2040. Not to be outdone, Bank of America issued a projection that by 2045, the space economy will be worth $2.7 trillion. These are big numbers but so far, individual players have not produced big results.Rocket Lab(NASDAQ:RKLB) would like to change this narrative.
Recently, investors found much encouragement in Rocket Lab’s Q2 earnings report. CEO Peter Beck said: “In [Q2] our team upheld our track record of relentless execution,delivering three successful launches, more than any other small launch provider for the entire year so far.”
To be sure, RKLB is down 55% for the year so no guarantees exist. Still, if you’re a speculator, it’s an awfully compelling name among high-risk stocks to buy.
Source: Ico Maker / Shutterstock
Another contestant among high-risk stocks to buy with an exceptionally enticing narrative isMobilicom(NASDAQ:MOB). On paper, Mobilicom provides end-to-end cybersecurity solutions, which doesn’t initially strike anyone as particularly distinct. However, where the company separates itself is in its focus. Rather than personal computers and networks, Mobilicom wants to secure your drones and similar robotic devices.
As you know, drones have skyrocketed in popularity. However, their proliferation now creates risks. According to research published onScienceDirect, the malicious use of unmanned aerial vehicles (UAVs) “began to emerge in recent years. Thefrequency of such attackshas been significantly increasing and their impact can have devastating effects. Hence, the relevant industries and standardisation bodies are exploring possibilities for securing UAV systems and networks.”
To be fair, as a recent initial public offering, MOB presents significant risks. As well, the company is a nano-capitalization firm. However, its ability to address a growing need in society may make it one of the high-risk stocks to buy.
Source: RHJPhtotos / Shutterstock
WithUranium Royalty(NASDAQ:UROY), we’re going to dive into the extreme end of high-risk stocks to buy. Billed as a pure-play uranium royalty company focused on gaining exposure to uranium prices by making strategic investments in uranium interests, Uranium Royalty offers an intriguing idea within the broad energy ecosystem.
Of course, a couple of problems quickly emerge. First, nuclear power presents controversies. Tragic high-profile incidents have colored public perceptions. Second, because of these tragedies, many countries haveinitiated efforts to move away from nuclear power. Third, go-green initiatives focusing on wind and solar gained significant momentum.
However, scientific realities will likely not be denied. For one thing, nuclear power presents an unparalleled magnitude ofenergy density. One uranium fuel pellet represents the equivalent energy potential found in 149 gallons of oil. Second, nuclear facilities represent themost reliable form of power distribution.
That’s not to say that UROY enjoys guaranteed upside. However, if you can handle the heat, this is one of the high-risk stocks that might deliver.
Source: VGstockstudio / Shutterstock.com
If you want to get extremely literal with high-risk stocks to buy, you might want to check outFreelancer(OTCMKTS:FLNCF). Right off the bat, Freelancer trades in the over-the-counter market. That’s a sign that you’re going to encounter significant risks, including administrative ones like unfavorable bid-ask spreads.
On the positive side, though, Freelancer provides a very relevant framework. As a marketplace for independent contractors, the company aligns well with the burgeoning gig economy. Moreover, theongoing battle between managers and workersregarding the return to the office may spark more demand for Freelancer.
Essentially, workers want to continue operating remotely while bosses want their subjects back in the office. While employees have some leverage, the reality is that the check signers enjoy the greatest power in the debate. Push might come to shove for certain workers, who may make a permanent shift to the gig economy.
That’s where Freelancer comes in. Of course, that’s also where much of the credible story ends. As a two-dime security, FLNCF is easily one of the most dangerous high-risk stocks available.
On Penny Stocks and Low-Volume Stocks:With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand thatInvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More:Penny Stocks — How to Profit Without Getting Scammed
On the 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.
A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.
• Buy This $5 Stock BEFORE This Apple Project Goes Live
• The Best $1 Investment You Can Make Today
• Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air”
• It doesn’t matter if you have $500 or $5 million. Do this now.
The post7 High-Risk Stocks to Buy for Huge Rewardsappeared first onInvestorPlace. || Crypto Mining Firm BitNile to Start Bitcoin-Based Marketplace Next Year: Bitcoin mining firm BitNile (NILE) plans to set up a bitcoin-based marketplace in the first half of next year aiming to reduce the complexity of conducting transactions in bitcoin.
BitNile intends for the marketplace to be a multi-vendor e-commerce platform, available on a mobile phone or web application that can provide multiple services including payment processing,according to an announcement on Thursday.
The Last Vegas-based firm is seeking to make using bitcoin for transactions more attractive both by making it convenient and by offering lower transaction fees than those in traditional e-commerce.
BitNile may also be looking to diversify its business away from bitcoin mining, given the squeeze on margins the industry has experienced in recent months with bitcoin's depressed price and high energy costs.
The grim outlook was compounded further earlier this week when the Bitcoin network's mining difficultysurged to an all-time high, meaning it has never been harder for miners to extract new bitcoin.
Read more:Bitcoin Miner Crusoe Energy Buys Fellow Flared-Gas Operator GAM || Congressional Black Caucus Foundation’s ‘CBC Week’ returns to D.C. after two years of COVID-19: Thousands are attending the week-long conference in Washington, D.C. which includes panels and receptions hosted by CBC members, businesses and various organizations. The Congressional Black Caucus Foundation’s Annual Legislative Conference is officially underway for in-person events for the first time in two years. The COVID-19 pandemic prevented the annual conference, also known as CBC Week, from taking place. Rep. Joyce Beatty (D-OH) (C) speaks a news conference on voting rights with members of the Congressional Black Caucus at the U.S. Capitol on July 21, 2021 in Washington, DC. (Photo by Kevin Dietsch/Getty Images) Thousands of participants from across the country are attending the week-long conference in Washington, D.C. which includes panels and receptions hosted by members of the Congressional Black Caucus, businesses and various organizations. CBCF Week, where policy discussions focus on various issues impacting Black communities, is considered one of the most important and most attended policy events in the nation’s capital. Darren Peters, a former staffer for both of Hillary Clinton’s presidential campaigns and the founder of the lobbying firm, the Peter Damon Group, told theGrio this is his 20th year participating in CBC Week. Peters, who also worked for the Clinton administration, said he finds it “inspiring” each year to see Black people from the “powerful elite” to “everyday folks” come together across the city for CBCF’s conference events. “I’ve been fortunate enough to experience CBC in a number of capacities,” said Peters. “To come to this place as a young Black man and see all this Black power and influence and elegance — it was just a critical driver in making me feel like I need to be here.” After two years of not having in-person events, he sees this year’s conference as an opportunity to address a number of critical issues, including the disproportionate impact of COVID-19 in Black communities, voting rights, social justice, and financial literacy, particularly the rise of cryptocurrency like Bitcoin. While many are excited about CBC Week returning to in-person activity, Peters also noted that there are also virtual events for those who aren’t able to attend. Story continues “I’m really excited about the fellowship and the human connection that the annual legislative conference can bring after so many years away,” said Cameron Trimble, former director of digital engagement at the Biden-Harris White House. Senator Cory Booker and members of the Central Park Five Kory Wise, Raymond Santana, and Yusef Salaam attend the Congressional Black Caucus’ Annual Legislative Conference’s Phoenix Awards Dinner at The Walter E. Washington Convention Center on September 14, 2019 in Washington, DC. (Photo by Aaron J. Thornton/Getty Images) Trimble, who is now an executive vice president at Precision, a political strategy and marketing agency, said he is looking forward to some of the forums, including the annual hip-hop and politics panel hosted by U.S. Rep. Andre Carson, D-Ind., that features hip-hop mogul Damon Dash. He’s also looking forward to attending this year’s Phoenix Awards, where President Joe Biden and Vice President Kamala Harris will deliver remarks . While CBC Week is primarily about facilitating substantive policy discussions, it’s also a week of several parties and mixers. Trimble recalled attending the annual Alabama Power Party, where he was able to meet his “hip-hop hero” Big Boi of Outkast. He recalled another time meeting Lonnie Johnson, the inventor of the Super Soaker, and getting a chance to “pick his brain for a little bit” – something he said was “very cool” having played with Super Soakers as a kid in Cleveland, Ohio. This year, Trimble attended a mixer toasting Black journalists hosted by Crooked Media’s Shaniqua McClendon, HIT Strategies founder Terrance Woodbury and political commentator Richard Fowler. White House press secretary Karine Jean-Pierre was a special guest and CBC members Reps. Mondaire Jones, D-N.Y., and Shontel Brown, D-Ohio. “Getting to see so many different people and see Black excellence at the highest level, not just in politics, but in business and social and entertainment, all kind of mix and mingle, it kind of just fills me with joy every time I think about it,” said Trimble. This year’s CBC Week comes as the Congressional Black Caucus celebrates its highest membership since its founding (58), several of whom currently chair House committees on Capitol Hill. Representative-elect Shontel Brown (D-OH) poses for a photo with Rep. James Clyburn (D-SC) and the Congressional Black Caucus in Statuary Hall at the U.S. Capitol on November 4, 2021 in Washington, DC. (Photo by Sarah Silbiger/Getty Images) “They represent so many people, not just Black folks, but they represent the entire country as the conscience of the Congress,” said Trimble. “And with such a strong and large delegation in the CBC this year, they have that much more influence on shaping policy, shaping laws, but also offering a guiding light for Congress as a whole to continue to keep America on its moral center.” U.S. Rep. Cori Bush, D-Mo., who celebrated her first annual CBCF conference this year as a member of Congress, hosted a panel on Wednesday that focused on the impact of police violence on Black mental health. One of its participants included Lezley McSpadden, the mother of Michael Brown, the 18-year-old shot and killed by Ferguson, Missouri police in 2014. On Tuesday ahead of her panel, Congresswoman Bush introduced a House bill, the Helping Families Heal Act , which is considered first-of-its-kind legislation to fund mental health resources, including family and school services, to support those who have encountered police violence. Bush, who collaborated on the bill with McSpadden, said the bill has been in the works for years. Last year broke the record for the number of police-involved killings with 1,055 deaths in the United States. Congresswoman Bush’s office noted in a press release staggering data that claims that the mental health impact of police violence contributes to “50 million additional days of poor mental health per year among Black Americans.” Bush said this year’s conference is important for members of Congress to be able to “meet face to face with people” and tackle crucial policy concerns that directly affect Black Americans. She also believes the week’s events can aid in expanding the circle of “up and coming Black political leaders.” Rep. Cori Bush (R-MO) speaks during a news conference to introduce legislation that would give the Department of Health and Human Services the power to impose a federal eviction moratorium in the interest of public health, on Capitol Hill September 21, 2021 in Washington, DC. (Photo by Drew Angerer/Getty Images) Mary Francis Berry, the former head of the U.S. Commission on Civil Rights, noted that CBC Week comes just a few weeks before the Nov. 8 midterm elections, giving candidates an opportunity to have face time with voters. “They should come and speak,” said Berry, who noted polling that finds that the top issues for the Black community are the economy and crime. She also said the economic challenges for Black farmers should be high on the priority list of topics for CBC Week after a lawsuit halted plans to provide debt relief for them through funding from last year’s Emergency Relief for Farmers of Color Act. After participating in a CBC panel on Thursday hosted by Rep. Hakeem Jeffries, D-N.Y., famed music executive and activist Kevin Liles said these final weeks ahead of the midterms are crucial in energizing Black voters to show up at the polls. “I will be out there fighting every single day,” he said. “It’s do or die.” Congressman Jeffries, standing alongside Liles, said “everything is on the ballot.” TheGrio’s Gerren Keith Gaynor contributed to this report. TheGrio is FREE on your TV via Apple TV, Amazon Fire, Roku and Android TV. Also, please download theGrio mobile apps today! The post Congressional Black Caucus Foundation’s ‘CBC Week’ returns to D.C. after two years of COVID-19 appeared first on TheGrio . || 3 Stock Investing Opportunities to Make 1,000% Gains: Finding the right stocks to buy for 1,000% gains in current market conditions seems challenging. However, it’s not impossible. In any economic scenario, there are stocks and sectors that tend to outperform. During the covid-19 pandemic, stocks from the pharmaceutical, e-commerce and social media segments delivered manifold returns. Similarly, in the last bull market for Bitcoin ( BTC-USD ), several crypto stocks skyrocketed. It’s also worth noting that making 1,000% gains in large-cap stocks is unlikely, especially if the investment horizon is three to five years. Investors, therefore, need to use a bottom-up analysis to scan mid-cap and small-cap stocks. InvestorPlace - Stock Market News, Stock Advice & Trading Tips I would prefer to remain conservative in terms of the time horizon on stocks to buy for 1,000% gains. However, the three stocks can deliver these returns quicker than expected. Let’s discuss the triggers for these stocks that can spark a big rally. MARA Marathon Digital $10.92 TLRY Tilray $3.19 SOLO Electrameccanica Vehicles $1.36 Marathon Digital Macro view of miner working for bitcoins mine pool. Devices and technology for mining cryptocurrency. Mining cryptocurrency concept. MARA stock. Crypto mining. Source: Yev_1234 / Shutterstock With the crash in cryptocurrencies, Marathon Digital (NASDAQ: MARA ) stock touched lows of $5.2. Even as Bitcoin remains depressed, MARA stock has more than doubled from lows. With a three-year horizon and an assumption that Bitcoin gradually trends higher, investors can make 1,000% gains in MARA stock. For investors who are bullish on Bitcoin, the stock is massively undervalued. As of August 2022, Marathon reported a mining capacity of 3.2EH/s. The company expects to reach a capacity of 6.9EH/s over the next 90-days. Additionally, Marathon expects to ramp up capacity to 23EH/s by mid-2023 . The company also has a healthy balance sheet to pursue expansion beyond this period. If this growth is achieved, the stock is poised for a big rally. I must mention that the next Bitcoin halving is due in 2024. This is a major catalyst for the digital asset. Once Bitcoin trends higher and margins expand, the stock is likely to go ballistic. Tilray Close view of Tilray (TLRY) logo on a smart phone. Tilray specializes in cannabis research, cultivation, processing and distribution Source: Lori Butcher / Shutterstock.com In November 2020, Tilray (NASDAQ: TLRY ) was trading around $6 levels. With the presidential elections and hopes of cannabis legalization, TLRY stock skyrocketed to $65 by February 2021. Of course, delay in the legalization process coupled with slower growth has resulted in renewed stock correction. The stock looks undervalued at current levels. Assuming a scenario where cannabis is legalized in the U.S. and Europe in the next few years, TLRY stock can deliver. Tilray has already set a revenue target of $4 billion by 2024. With organic growth and acquisitions, this seems achievable. In particular, if regulatory headwinds wane. Story continues I also like the fact that Tilray has been building a strong presence in Europe in the medicinal cannabis segment. This is likely to yield results in the next few years. Overall, Tilray is among the top picks from the cannabis segment. The company continues to report positive adjusted EBITDA. Top-line acceleration is a big impending catalyst that’s likely after Federal level cannabis legalization. Electrameccanica Vehicles An image of a charging station for an EV on a dark background; EV stock Source: Marko Aliaksandr / Shutterstock Electrameccanica Vehicles (NASDAQ: SOLO ) stock has a higher risk as compared to the first two stock picks to make 1,000% gains. However, I would consider some exposure to this interesting and undervalued electric vehicle stock. As an overview, Electrameccanica is in the business of production and sale of single-seat EVs. The company’s first model has already commenced commercial production. In the last three quarters, the company has delivered 174 SOLO vehicles . I am bullish on this small-cap for two reasons. First and foremost, the company’s SOLO model has a base price of $18,500. A low-price EV is a differentiating factor in the highly competitive industry. Furthermore, the company is also targeting restaurant and grocery chains to market SOLO as a cargo van. If Electrameccanica can make inroads in this market, the potential is significant. Currently, the company has an asset-light model with manufacturing outsourced to Zongshen (China). Funding requirements are therefore not significant. If sales gain traction, Electrameccanica is likely to set up its own production unit. The company’s long-term plan includes expansion beyond the U.S. Considering the sector tailwinds, I am optimistic that the stock can deliver multi-fold returns. On the date of publication, Faisal Humayun 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 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 modeling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector. More From InvestorPlace Buy This $5 Stock BEFORE This Apple Project Goes Live The Best $1 Investment You Can Make Today Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” It doesn’t matter if you have $500 or $5 million. Do this now. The post 3 Stock Investing Opportunities to Make 1,000% Gains appeared first on InvestorPlace . View comments || More Than Half of Gen Z Invests: Here’s What They Sink Their Money Into: RyanJLane / Getty Images A new study from GOBankingRates offers good news to anyone worried about Gen Z’s commitment to their financial future. Although the youngest adults are a little less likely to invest their money than millennials, Gen Z invests in percentages that are nearly equal to those of middle-aged adults between 45-54 — and they’re actually more likely to invest than older Americans 55 and up. The Future of Finances: Gen Z & How They Relate to Money More: Should You Still Buy a Home in Today’s Market? The study, which surveyed more than 1,000 American adults, found that 43% of Gen Zers (18-24) aren’t yet investing. That means 57% are, which might be shocking to those who stereotype the youngest generation as irresponsible and short-sighted. What’s even more shocking, however, is what they are — and aren’t — investing their money in as they grow. Wait. Yes to Real Estate, But No to Crypto? The study’s most striking revelation was that only about 11% of the Gen Zers who invest sink their money into cryptocurrency. Twice as many, about 22%, invest in the stock market, and about 14%-16% invest in 401(k)s or IRAs and mutual funds or ETFs. In fact, the only category that draws fewer young adults than crypto is the 5% who dabble in collectibles. Remarkably, the biggest plurality — a little more than 24% — invest in real estate. So, how is it that Gen Zers shun cryptocurrency — which is almost universally associated with young, tech-savvy risk-takers — but they flock to real estate, which has always been the realm of mature, stable investors with assets, income and credit? As it turns out, assumptions about Gen Z rarely hold up to reality. Take Our Poll: Do You Think You Will Be Able To Retire at Age 65? Gen Z Missed Tech’s Training-Wheels Phase George Sinis is a computer science professional and longtime crypto trader who owns an educational crypto and finance media company called BuyCryptoSafety . In his experience, the common presumption that the youngest adults are crypto’s biggest fans just isn’t grounded in reality. Today’s 20-year-olds were seven when Bitcoin debuted in 2009 — their concept of how we got here is purely academic. Older sets, on the other hand, watched it evolve in real time. Story continues “Older generations, especially us millennials, had to go through all the phases of the internet and technology,” said Sinis. “Before forums, blogs and social media, we had to figure out everything ourselves, which made us quite tech-savvy. On the other hand, whenever I do a crypto presentation to a Gen Z audience, the most common complaint I get is that they find crypto too confusing and don’t have the patience to learn how everything works. My experience shows that Gen Z is very skilled at handling social media, but their tech knowledge doesn’t extend further. That is why they pick a simpler investing model like real estate. As time goes on, I think we will see a significant influx of Gen Z investors in the crypto market as they become more confident and mature.” But They Also Missed the Great Recession Sinis’s thesis — that Gen Z is shying away from crypto until they get a better grasp on the technological evolution that birthed it — is certainly valid. But bear in mind that his perspective is that of a blockchain specialist. Brian Davis, founder of Spark Rental , also believes a lack of pre-2009 context drives the dynamic — but he sees the issue through the lens of a real estate professional. “Those stats make sense when you think about it,” said Davis. “Gen Z was very young during the last housing market crash in 2008, and it probably didn’t make much of an impression on them. All they’ve seen is real estate skyrocket in value since then. But they have been old enough to see the wild volatility of cryptocurrency, and they either know someone or they themselves have lost money on crypto at some point over the last few years.” Or, the Study’s Results Might Tell Only Part of the Story John Frigo, a Gen Zer and investor who works as a marketing analyst with BestPriceNutrition.com , exhibits a healthy dose of one more thing that his generation is known for: skepticism. “I would disagree with the idea that most of my peers are investing in real estate, let alone over stocks and crypto,” Frigo said. “Here’s the thing. It’s very easy to invest in crypto. Anyone with a Robinhood account, Cashapp account, etc., can throw $20 into crypto, whereas very few people my age have the means, the credit or the job history to be able to buy real estate. I think a lot of my peers are intrigued by real estate and want to be real estate investors or landlords down the road. But it’s not nearly as prevalent as crypto or stocks, which someone can invest as little as $5 into with a few clicks on an app they already have, versus having to have money saved up and get financing to buy real estate.” Frigo makes valid points — so how can those points be reconciled with the results of the study? Several experts offered explanations that might fill in the blanks. Frigo mentions landlords, credit, job history and down payments. But perhaps the Gen Zers who reported being real estate investors aren’t flipping foreclosures or buying properties. Perhaps they’re investing in partial shares of REITs or REIT EFTs, which anyone with a no-fee brokerage account can buy with as little as $1. Or maybe they’re investing through real estate fractional share crowdsourcing platforms like Concreit, which are also cheap and accessible. On the flip side of the coin, many of those same young adults who appear to shun crypto might have invested in digital currencies in 2021 when the market was hot, but panic-sold their shares as this year’s crypto winter diminished their modest holdings before they participated in the survey. The point is that Frigo’s sound logic doesn’t have to be wrong for the study to be right, or vice versa. No matter the cause, one thing is certain — Gen Z is serious about putting its money to work. More From GOBankingRates Stimulus Updates To Know for August 2022 Check Out Readers' Favorite Small Businesses in Our 2022 Small Business Spotlight This Credit Score Mistake Could Be Costing Millions Of Americans Here's How Much Cash You Need Stashed If a National Emergency Happens Methodology: GOBankingRates surveyed 1,004 Americans aged 18 and older from across the country between July 21 and July 24, 2022, asking six different questions: (1) Where did you learn about personal finance?; (2) How much overall debt do you currently have? (Including student loan debt); (3) How much of your monthly income do you put toward rent/housing?; (4) What is your opinion on remote work/work from home policies at your current or future employer?; (5) Do you invest your money? If so, what do you invest in? Select all that apply; and (6) What minimum salary would you need to make to be happy? GOBankingRates used PureSpectrum’s survey platform to conduct the poll. This article originally appeared on GOBankingRates.com : More Than Half of Gen Z Invests: Here’s What They Sink Their Money Into || 7 Little-Known Stocks With Millionaire-Maker Potential: Although, on the surface, everything looks gloomy now for stocks, one point that the bears are forgetting, I would argue, is that we live in an era of unprecedented technological advancement. Never before in the world has there simultaneously been so many new, highly impactful technologies –from artificial intelligence to connected cars to fintech to autonomous vehicles to automated retail checkout devices.
As a result, there are a diversity of companies that are little known today but whose products will generate tremendous amounts of revenue in two or three years. And, of course, the shares of these companies will go up hundreds of percent along the way, making them great stocks to buy at this point.
Let’s take a look at seven little-known stocks to buy that can make those who buy a few thousand dollars of their shares today, millionaires in a decade.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
[{"ICAD": "EMBK", "iCAD": "Embark", "$1.91": "$6.45"}, {"ICAD": "GEVO", "iCAD": "Gevo", "$1.91": "$2.10"}, {"ICAD": "SWAV", "iCAD": "Shockwave Medical", "$1.91": "$273.94"}, {"ICAD": "YETI", "iCAD": "YETI Holdings", "$1.91": "$30.65"}, {"ICAD": "ARRY", "iCAD": "Array Technologies", "$1.91": "$16.38"}, {"ICAD": "DV", "iCAD": "DoubleVerify", "$1.91": "$28.51"}]
Source: shutterstock.com/Peshkova
iCAD(NASDAQ:ICAD) develops products that use artificial intelligence to detect cancer more effectively and efficiently than standard-of-care products. The company’s leading offering is its Breast AI Suite.
Among the products within the suite are “ProFound AI,” which the company says is “the first AI cancer detection software for 3D mammography to be cleared by the FDA,” and “ProFound AI Risk.” According to iCAD, the latter tool is “the world’s first and only clinical decision support tool that provides an accurate short-term, breast cancer risk estimation that is truly personalized for each woman.”
Furthermore, the company addedthat Profound AI Riskcanbe nearly2.4 timesmore exact than standard tests.
Among iCAD’s leading customersisSolis Mammography, which calls itself “the largest independent provider of mammography and breast health services in the United States.” Solis’ decision to sign a five-year partnership deal with iCAD at the end of 2020 validates the tremendous utility and value of iCAD’s Breast AI Suite.
Moreover, due mainly to a combination ofmacro challengesandiCAD’s recent decision to begin offering subscription payment models instead of one-time licensing fees, iCAD’s revenue fell 3.2% year-over-year to $7.6 million. However, its CEO, Stacey Stevens, said in August that the company had signed more new customers in Q2 than in Q1 and that its results should improve in the second half of this year.
Source: Scharfsinn / Shutterstock.com
Embark(NASDAQ:EMBK) develops software that enables trucks to drive autonomously. Given the tremendousshortageof trucker driversin theU.S., the demand for such products is likely to be very high.
As of a year ago, Embark alreadyhad14,200 reservationsfor itssoftware. If all those reservations, which require refundable, $500 deposits, convert to deliveries, the company would generate $867 million of revenue. Yetthemarket capitalizationofEMBK stock is just $151 million.
Furthermore, on Aug. 11, Embark CEO Alex RodriguesreportedthatEMBK was “on track to begin delivering Embark-equipped trucks starting in December.” Embark’s first deliveries are slated to go to its partner,Knight-Swift(NYSE:KNX),one of the largest firms in the trucking sector.
Moreover, in a strategy that I consider to be intelligent, Embarkislookingto distinguishitself from its competitors by seeking to optimize its software for wintry environments.
The current low valuation of EMBK stock significantly undervalues its tremendous potential. Thus, it is one of the best stocks to buy.
Source: NicoElNino/Shutterstock
Gevo(NASDAQ:GEVO) develops sustainable airplane fuel (or SAF) that the company anticipates will have “net-zero greenhouse gas emissions” over their lifetimes. The company’s SAF is created from corn components that are left over from the processing of corn.
When it comes to making important deals, Gevocontinuesto make great progress. On Oct. 10, the company reported that it anticipated generating $2.3 billion of revenue per year from the SAF agreements that it had already concluded. Moreover, among its customers areDelta Airlines(NYSE:DAL),American Airlines(NYSE:AAL),Alaska Airlines(NYSE:ALK),Japan Airlines(OTC:JAPSY), andInternational Airlines Group’s(OTCMKTS:ICAGY)British Airways.
In addition, Gevo added that it expects to benefit from tax credits recently signed into law as part of the climate bill that Congress recently passed.
In February,Citistartedcoverage of GEVO stock with a “buy” rating and a $5 price target. Lastly, firm expects the company’s cash flow to turn positive by 2023-2024.
Source: ESB Professional/Shutterstock.com
Founded in 2009,Shockwave Medical(NASDAQ:SWAV) has developed an innovative system that treats the widespread problem of cardiovascular calcium with shockwaves. The company explains that standard offerings” only treat superficial calcium” and cannot eliminate “deep calcium.”
Conversely, Shockwave says that itsIVL offering works“by disrupting [both] superficial and deep calcium.” IVL has been used in the heart, “peripheral” blood vessels, and “iliac” arteries. The company reports that IVL is “safe.”
Moreover, Shockwaveisgrowing rapidlyand has become profitable. In the second quarter, for example, it generated $121 million in revenue, up from $56 million during the same period a year earlier. Furthermore, its operating income came in at $29.6 million versus a Q2 operating loss of $200,000 during June of 2021.
SWAV also increased its fiscal 2022 sales guidance to $465-475 million to from $435-455 million, making it one of the millionaire-maker stocks to buy.
Source: David Tonelson / Shutterstock.com
Some may argue thatYeti Holdings(NYSE:YETI) is well-known. But I believe that most of the many investors who are not big fans of outdoor activities probably have not heard of the company. That’s because, as far as I can tell, YETI stock has not been widely covered by business news outlets or publications that focus on stock picking.
As you may have guessed, Yeti focuses ondeveloping productsused inconjunction with outdoor activities. Its offerings include coolers, beverage containers, and apparel for various outdoor environments.
With hundreds of millions of people globally focusing on losing weight and staying healthy in the wake of the coronavirus pandemic, the demand for Yeti’s products should be growing significantly. And indeed, last quarter, its revenue climbed 17.4% year-over-year to $420 million. Meanwhile, analysts, on average,expect its EPS to riseto $2.85 nextyear, up from $2.38 in 2022.
Of course, Yeti is not a high-tech company. But given its relatively low market capitalization of $2.6 billion and its lownet debt of $16.2 millionas of the end of Q2, I believe that it can, through acquisitions and the growth of its existing offerings, boost YETI stock a great deal. Making it one of the top stocks to buy on this list.
Source: Andreas Prott / Shutterstock
A developer of solar tracking systems,Array Technologies(NASDAQ:ARRY)is well-positionedto benefit from the vast, global explosion of solar energy. In the U.S., for example, solar has expanded at “an average annual growth rate of 33%,” according to research firmWood McKenzie.
Moreover, AARY is benefiting financially from the sector’s growth. In Q2, thecompany’s top linesoared 116%year-over-year, reaching $425 million and coming in $88 million ahead of analysts’ average outlook. Further, its Q2 EBITDA, excluding certain items, jumped to nearly $26 million, up from almost $10 million during Q2 of 2021.
Last month, research firmPiper Sandlerraisedits ratingon ARRY stock to “overweight” from “neutral” and hiked its price target on the name to $28 from $20. As reasons for the upgrade, the firm cited what it sees as the company’s strong orders, its focus on profitability, and its ability to benefit from the new energy law.
Source: Song_about_summer/Shutterstock
DoubleVerify’s(NYSE:DV) products automatically analyze the effectiveness of digital ads. Among the metrics evaluated by the software are “brand safety, viewability, and geography,” along with “exposure and engagement” potential.
Furthermore, DVreportedimpressive second-quarter results, as its top line jumped nearly 43% YOY to $110 million and generated a net income of $10.3 million.
In addition, the company’s impressive customers are British Airways,Yum Brands’(NYSE:YUM)Taco Bell,Meta(NASDAQ:META),Comcast’s(NASDAQ:CMCSA)Universal Parks.Reddit, Amazon’s(NASDAQ:AMZN)Twitch, andMicrosoft’s(NASDAQ:MSFT)LinkedInare among their top-notch partners. Moreover, accordingto a recentreport,Netflix(NASDAQ:NFLX) recently chose DoubleVerify as a partner for its upcoming ad offering.
Lastly, RBC Capital believes that the news is positive for DV stock. Identifying the company as “a long-term [connected TV] beneficiary,” it kept a $32 price target and an “outperform” rating on the shares. Making DV one of the millionaire-maker stocks to buy.
On the date of publication, Larry Ramer owned shares of ICAD stock.The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
Larry Ramer has conducted research and written articles on U.S. stocks for 15 years. He has been employed by The Fly and Israel’s largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been GE, solar stocks, and Snap. You can reach him on StockTwits at @larryramer.
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The post7 Little-Known Stocks With Millionaire-Maker Potentialappeared first onInvestorPlace. || 7 Tech Stocks to Sell Before They Die: The miserable year for tech stocks just won’t end, so nobody could really blame you if you started looking for tech stocks to sell.
While tech seemed to have a resurgence in August and gave growth investors some hope in an utterly miserable year on the market, the sector is once again on the downturn. TheInvesco QQQ Trust(NASDAQ:QQQ), a leading tech exchange traded fund, is down 15% since August.
And there’s really no indication that tech stocks will bounce back any time soon. Inflation at its highest rate since the 1980s will force the Federal Reserve to continue to raise interest rates; a strong U.S. dollar is hurting tech companies that rely on imports and the Russia-Ukraine war will continue to cast a shadow on the global economy.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Sure,there are some good tech stocks out there. But there are some real dogs as well as identified by my Portfolio Grader. Here are seven tech stocks to sell now.
[{"PEGA": "SFIX", "Pegasystems": "Stitch Fix", "$33.60": "$4.18"}, {"PEGA": "INTC", "Pegasystems": "Intel", "$33.60": "$27.18"}, {"PEGA": "PENN", "Pegasystems": "Penn Entertainment", "$33.60": "$31.76"}, {"PEGA": "PYPL", "Pegasystems": "PayPal Holdings", "$33.60": "$94.23"}, {"PEGA": "ZM", "Pegasystems": "Zoom Video Communications", "$33.60": "$78.32"}, {"PEGA": "DDI", "Pegasystems": "DoubleDown Interactive", "$33.60": "$9.50"}]
Source: Shutterstock
Enterprise software firmPegasystems(NASDAQ:PEGA) was one of the first customer relationship management companies. Now it’s working in robotic process automation and business process automation.
It offers an AI-powered software-as-a-service (SaaS) platform that helps business and government agencies improve workflow and automation.
The threat of a recession weighs heavily on PEGA stock. In July, the company acknowledged that its clients were seeing pressure from slowerglobal economic growth.
That fear is reflected in the stock price – down nearly 70% so far this year and down 31% since July.
Earnings in the second quarter were misses on both revenue and earnings. Pegasystems reported revenue of $275.34 million and a loss per share of 38 cents. Wall Street was expecting revenue of $338.31 million and a gain of 5 cents per share.
PEGA stock has an “F” rating in the Portfolio Grader.
Source: Sharaf Maksumov / Shutterstock.com
Stitch Fix(NASDAQ:SFIX) the e-commerce fashion and clothing company, is having just as bad of a year.
The stock is down 78% to penny stock territory (less than $5 per share) as a tightening economy leaves less discretionary income for Stitch Fix customers to spend on new outfits.
On the surface, Stitch Fix seems to be a great business subscription idea – customers go online to complete a style profile and to put in the clothing sizes. A stylist uses that information to pick out a few clothing items and sends them to the customers to either buy or return.
But there are two big things working against SFIX right now – the weakened economy and the fact that many people aren’t leaving their homes to go to work as often as they did before Covid-19. People don’t need as many work outfits as they did in 2019, and I don’t know when that’s going to change.
Earnings for the company’s fiscal fourth quarter continued to disappoint. Revenue of $481.9 million was less than analysts’ expectations of $488.79 million. An earnings loss of 89 cents per share was worse than the anticipated loss of 60 cents per share.
SFIX stock also has an “F” rating in the Portfolio Grader.
Source: Kate Krav-Rude / Shutterstock.com
I actually took adeep diveintoIntel(NASDAQ:INTC) stock pretty recently. It wasn’t a pretty picture. Intel has lost its position as a chip leader and isn’t likely to get it back anytime soon.
On top of that, the personal computer market is expected to drop by 10% this year,or even more, according to Intel CEO David Zinsner.
Second quarter earnings were pretty disastrous, with earnings of $15.32 billion coming in lower than the Street’s estimate of $17.92 billion. EPS of 29 cents per share was much worse than expectations of 70 cents EPS.
Intel stock is down 46% so far this year, has an “F” grade in the Portfolio Grader.
Source: Casimiro PT / Shutterstock.com
I don’t have a lot of faith these days inPenn Entertainment(NASDAQ:PENN) stock. The casino and entertainment company bought 36% of Barstool Sports in 2020 and recently announced itwas exercising its rightsto buy 100% of the company.
PENN bulls thought that the Barstool partnership would be huge for PENN because it would theoretically open the door for the company to provide in-game betting across the country. But the rollout of legalized gaming has been slower than anticipated and enthusiasm for the partnership has definitely waned.
PENN has shown a habit in recent quarters of hitting its revenue goals but missing on earnings – and that trend continued in the second quarter of this year. Revenue of $1.63 billion beat analysts’ expectations for $1.6 billion. But the 14-cent EPS was much worse than expectations for EPS of 50 cents.
PENN stock is down nearly 40% so far in 2022. And like the others on this list, PENN has an “F” rating in the Portfolio Grader.
PayPal Holdings(NASDAQ:PYPL) has actually shown signs of life in recent weeks. The stock was down below $70 as recently as July but currently tops $94 to show more than a 30% gain over the last three months.
But as I wrote recently,don’t be fooledby this sudden move up in PYPL stock.
While analysts are projecting improved EPS in the future thanks to cost-cutting and share repurchases, I think the market is already pricing in PayPal’s improved operating performance. Meanwhile, the market conditions that initially pushed PayPal lower are still a factor, so it’s likely that PYPL stock will drop again, soon.
True, earnings for the second quarter were better than anticipated – revenue of $6.81 billion was better than the $6.78 billion that analysts expected. EPS of 93 cents was 6 cents better than predicted. But I’m still not sold on PYPL stock.
Neither is the Portfolio Grader, which gives PYPL stock an “F” grade.
Source: Michael Vi / Shutterstock.com
When you think aboutZoom Video Communications(NASDAQ:ZM) you probably remember one of the many Zoom calls you were on during Covid-19, when Zoom meetings became the norm for many businesses and schools.
You may also have some wistful feelings if you missed out on ZM’s huge gains in 2020 and 2021.
But those boom years are over and ZM stock is still feeling the pain. Down more than 57% so far in 2022, ZM is one of the tech stocks to sell on continuing weakness.
. Revenue in Q2 was $1.1 billion, narrowly missing analyst expectations of $1.2 billion. Guidance for the third quarter of $1.09 billion to $1.1 billion is lower than the $1.15 billion that the Street expected.
So, it’s unlikely that ZM stock will give you anything but pain for the rest of the year. It gets an “F” rating in the Portfolio Grader.
Source: Marko Aliaksandr/Shutterstock
DoubleDown Interactive(NASDAQ:DDI) develops digital games for mobile and web-based platforms.
It specializes in casino-style games with its flagship title beingDoubleDown Casino. Another popular title is the zombie survival gameUndead World: Hero Survival, which has beendownloaded more than 1 million timesin its first year.
However, this doesn’t appear to be a good time to double down on DDI stock. Revenue of $80.57 million in the second quarter was down 13% from a year ago. The company also saw significant drops in net income (down 284%), EPS (down 264%) and profit margin (down 313%).
DDI stock is down more than 37% so far this year, far worse than fellow gaming stocksElectronic Arts(NASDAQ:EA) andTake-Two Interactive(NASDAQ:TTWO) making it one of the tech stocks to sell while you still have a chance.
Unsurprisingly, this zombie of a stock has an “F” rating in the Portfolio 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.
Louis Navellier, who has been called “one of the most important money managers of our time,” has broken the silence inthis shocking “tell all” video… exposing one of the most shocking events in our country’s history… andthe one move every American needs to make today.
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The post7 Tech Stocks to Sell Before They Dieappeared first onInvestorPlace. || Markets: Bitcoin, Ether fall; Solana, BNB slip, while Cardano rises: Bitcoin and Ether reversed from morning gains in Friday afternoon trading in Asia. Solana was the biggest loser among the top 10 coins by market capitalization, followed by BNB. See related article: Markets: Ethereum, Ethereum Classic lead crypto gains as Bitcoin posts modest gains Fast facts Bitcoin traded down 1.34% in the past 24 hours to change hands at US$21,440 as of 4 p.m. Hong Kong time. Ethereum dropped 2.91% to US$1,656, according to data from CoinMarketCap . The two largest coins by market cap, however, have made up some ground from last week’s slump that at one stage drove Bitcoin below US$21,000. Bitcoin was down 2.32% over the past seven days and Ethereum was off 5.02%. Solana fell 4.1% in the prior 24 hours to US$34.64, and BNB slipped 3.1%. Cardano, however, gained 3.1%. Asia equity markets had a mixed day. The Shanghai Composite index closed down 0.31%, while the Hong Kong Hang Seng index rose 1.01%. The Nikkei 225 index ended trading up 0.57%. U.S. Fed Chairman Jerome Powell is expected to give a keynote speech at the central bank’s annual economic symposium in Jackson Hole, Wyoming, at 10 a.m. Eastern Time (10 p.m. Hong Kong) on Friday. Investors will be looking at signals coming out from the meeting for guidance on the direction of interest rates. See related article: Binance to suspend ETH deposits, withdrawals during “The Merge” || Nvidia Is on Sale and Cathie Wood Is a Big Buyer: (Bloomberg) -- A rebound for Cathie Wood’s exchange-traded funds may depend in part on an equally battered large-cap technology stock that’s been a long-time favorite of hers -- Nvidia Corp.
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ETFs controlled by the growth stock proponent’s ARK Investment Management LLC have been loading up on Nvidia shares, purchasing more than 400,000 in September, according to the firm’s daily trading disclosures. ARK funds held more than 675,000 shares as of June 30, according to data compiled by Bloomberg.
Nvidia shares have plunged 55% this year, the biggest drop among tech stocks with market values of $100 billion or more. Sales growth has slowed at a time when valuations for rapidly expanding companies have come under intense pressure amid soaring interest rates. The stock rose 0.5% on Monday.
That’s left the stock cheaper than it was last year when its market value was climbing toward $1 trillion. Yet at 32 times projected earnings, its still priced above its average over the past decade.
Wood has long been a fan of Nvidia, whose graphics processors are used in personal computers and for complex computing tasks required for artificial intelligence. Shares of the Santa Clara, California-based company have been part of her portfolios since ARK began in 2014, along with electric-car maker Tesla Inc.
Still, ARK’s conviction has wavered at times. The firm sold nearly 300,000 Nvidia shares on Aug. 23, the day before the chipmaker reported earnings in which its quarterly revenue forecast fell about $1 billion short of the average Wall Street estimate. ARK representatives didn’t respond to inquiries seeking comment.
“Nvidia is a high-quality company and while it was expensive earlier this year, the correction has made it look pretty attractive at these levels,” said Greg Taylor, chief investment officer at Purpose Investments Inc.
Wood’s affinity for Nvidia was a massive boon as the shares soared from about $4 at the start of 2014 to more than $330 late in 2021, when Nvidia’s market value peaked at more than $800 billion. This year, however, the stock has been a big drag. Nvidia has fallen 60% from a Nov. 29 record, shedding about $500 billion in market value along the way.
Of course, Wood has been criticized as her portfolios have taken a beating with economic conditions weighing disproportionately on the high-growth, high-valuation stocks she tends to favor. Her $8 billion flagship ARK Innovation ETF has fallen 55% this year.
As for Nvidia, Wall Street has been slashing earnings estimates. Projections for 2023 profits under generally accepted accounting principles have fallen more than 50% over the past three months, according to data compiled by Bloomberg.
Tech Chart of the Day
The Nasdaq 100 Index fell 5.8% last week, as a reading on inflation fueled its biggest weekly percentage drop since January, and the selling was especially severe in Microsoft Corp. The software giant dropped 7.5%, its biggest slump since March 2020. The stock, which is down 27% this year, closed at its lowest level since June.
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• Sea Ltd. is preparing to fire 3% of Shopee employees in Indonesia, part of a broader wave of regional job cuts intended to curb ballooning losses and win back investors. The Singapore-based company will begin notifying affected staff Monday at its cash-burning e-commerce arm, according to a memo seen by Bloomberg News.
• A slide in the Hang Seng Tech Index took the gauge near oversold territory for the first time since a March rout, indicating extreme bearishness that some technical traders see as a sign of rebound momentum.
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• Li Zexiang grew up in rural China during the Cultural Revolution, when capitalists were the enemy. Now the 61-year-old academic has quietly emerged as one of the country’s most successful angel investors, backing more than 60 startups including drone giant DJI.
• MicroStrategy Inc. co-founder Michael Saylor, one of the biggest advocates of Bitcoin, said the software update of the Ethereum blockchain serves to boost the outlook for the world’s largest cryptocurrency.
• If you work in US film and TV, the bad news is arriving almost daily. A multiyear boom in film and TV production, driven by media companies racing to sign up subscribers for their new streaming services, has come to a painful halt, giving way to firings, introspection and handwringing.
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©2022 Bloomberg L.P. || Crypto Miner F2Pool Mined the Last-Ever PoW Ether Block Before Merge: Crypto miner F2Pool mined the last-ever block of proof-of-work (PoW) ether (ETH) as the network shifted to a proof-of-stake (PoS) consensus system earlier Thursday morning. The last ether block before the Merge was 15537393, data shows . F2Pool paid some 29,991,429 gwei, the smallest unit of ether, as gas fees for that transaction. The miner included a message in Mandarin in the block: “七彩神仙鱼F!,” it read, which translates to “Colorful Angelfish F!” F2Pool did not immediately respond to requests for comment. The miner, which was founded in 2013, was one of the earliest bitcoin (BTC) mining pools. After the Merge , new blocks on the Ethereum network continued to be produced as normal and without any hiccups. Ether traded flat after the Merge. Read more: The Ethereum Merge Is Done, Opening a New Era for the Second-Biggest Blockchain
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: up || Prices: 19067.63, 19268.09, 19550.76, 19334.42, 19139.54, 19053.74, 19172.47, 19208.19, 19567.01, 19345.57
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2022-07-18]
BTC Price: 22485.69, BTC RSI: 56.85
Gold Price: 1709.20, Gold RSI: 26.99
Oil Price: 102.60, Oil RSI: 46.42
[Random Sample of News (last 60 days)]
Bitcoin (BTC) Rebounds to $30,000 as Investors Ignore Gensler Warnings: • On Thursday, bitcoin (BTC) rallied by 5.63% to return to $30,000. The upside came despite the US equity markets seeing red.
• SEC Chair Gary Gensler also failed to reverse early gains despite the warning of more coin collapses.
• Bitcoin (BTC) technical indicators flash red, with bitcoin sitting at the 50-day EMA.
Bitcoin (BTC) rallied by 5.63% on Thursday, the breakout coming despite SEC Chair Gary Gensler’s warnings of more crypto pain. Reversing a 5.75% loss from Wednesday, bitcoin ended the day at $30,282.
A bullish session saw bitcoin strike a mid-afternoon high of $30,505 before easing back. Bitcoin broke through the First Major Resistance Level at $30,024 to test resistance at the 50-day EMA before ending the day at sub-$30,300.
Bearish sentiment from the US equity markets failed to hit thecryptomarket, with investors now looking beyond TerraLUNAand TerraUSD (UST).
SEC Chair Gary Gensler also failed to spook investors despite the warnings of more crypto failures.
On Thursday, Genslertalkedof other cryptos mirroring Terra’s demise to harm investors. The SEC Chair didn’t predict a few failures but many.
This morning, the Fear & Greed Index held steady at 13/100. While up from Tuesday’s 8/100, the Index remained in the “Extreme Fear” zone, reflecting the bearish sentiment across the crypto market.
Investors took little notice of the Index on Thursday. The bitcoin rally came despite the index sitting deep in the “Extreme Fear” zone, with the return to $30,000 having a muted impact on the Index this morning. Bitcoin and the broader market also ignored movements across the US equity markets.
The NASDAQ reversed gains from the session to end the day down 0.26%.
At the time of writing, BTC was down 0.48% to $30,138.
BTC will need to avoid the $29,812pivotto target the First Major Resistance Level at $30,970.
BTC would need the broader crypto market to support a breakout from $30,500 levels.
An extended rally would test the Second Major Resistance Level at $31,666 and resistance at $32,000. The Third Major Resistance Level sits at $33,517.
A fall through the pivot would test the First Major Support Level at $29,122. Barring another extended sell-off, BTC should steer clear of sub-$28,000 levels. The Second Major Support Level sits at $27,964.
Looking at theEMAsand the 4-hourly candlestick chart (below), it is a bearish signal. BTC sits below the 50-day EMA, currently at $30,365. This morning, the 50-day flattened on the 100-day EMA. The 100-day EMA fell back from the 200-day EMA; BTC negative.
A move through the 50-day EMA would support a run at $32,500.
Thisarticlewas originally posted on FX Empire
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• Ukraine says it gets $530 million in U.S., UK grants from World Bank fund || Three Arrows Paper Trail Leads to Trading Desk Obscured Via Offshore Entities: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. The epic collapse (and now bankruptcy case ) of the once-mighty crypto hedge fund Three Arrows Capital has roiled the digital-asset industry and contributed to a record first-half tumble in bitcoin's price . Yet for investors and enforcers following the money trail, the arrows point to an obscure legal entity that has so far mostly remained out of the headlines while still aggressively trading and possibly shielding some assets from recovery. While Three Arrows Capital used its tens of billions of dollars of assets under management to invest in new projects and take large market positions, it also operated an over-the-counter trading desk called Tai Ping Shan (TPS) Capital. The entity was once described on LinkedIn as "the official OTC desk of Three Arrows Capital," according to a scraped version of the site by Google, but the language has since been changed, distancing the two firms. TPS Capital continues to make trades, according to sources in the digital asset industry in Asia, even as its parent company faces liquidation in the British Virgin Islands and an investigation in Singapore. For those seeking restitution from Three Arrows Capital via a lawsuit, the legal separation may complicate efforts to obtain a payout. Named after Tai Ping Shan mountain on the island of Hong Kong, TPS Capital is registered in Singapore but domiciled in the British Virgin Islands. The parent company is now facing a lawsuit, but according to corporate filings, TPS Capital has a different ownership structure and hidden directors. According to registration documents filed in Singapore , TPS Capitals ownership is split between a BVI-registered firm called Three Lucky Charms Ltd , BVI-registered TPS Research and Cayman Islands-registered Tai Ping Shan Ltd. Tai Ping Shan Ltd's Cayman Islands filing. (Companydocuments.com) While BVI law holds that the directors of a company arent public information, the name Three Lucky Charms rings like Three Arrows Capital, whose three principals are Su Zhu, Kyle Davies and a third individual whose identity isnt clear. Story continues TPS Research, which owns 47.5% of TPS Capitals Singapore entity, also keeps its directors hidden from the public as allowed under BVI law. Caymans-registered Tai Ping Shan , which owns 5% of the Singapore entity TPS Capital, lists Paul Muspratt, the managing director of West Bay Global Services, a corporate services provider, as one of its directors, alongside Steven Sokohl, another West Bay employee, and Yi Long Fung. Yi doesnt have much of a presence online. He is listed as a director of TPS Capitals Canadian-registered entity , which operates by the same name, founded in February 2022, and provides an address in the Toronto suburb of Thornhill. Wheres Three Arrows money? For a fund that was touted to be managing billions of dollars, Three Arrows filings with the Singaporean government show a paltry income that would suggest management of a significantly smaller amount. According to a return filed for the 2020 fiscal year-end , Three Arrows Singapore reported it had S$3.3 million ($2.36 million) in total assets, and claimed a S$1.15 million ($823,015) profit for the year. Some S$6.33 million was paid out in dividends to Zhu and Davies. Three Arrows Capital's 2020 Return (Retrieved from the Accounting and Corporate Regulatory Authority) Three Arrows 2021 year-end filing is not available. Three Arrows Singapore and Three Arrows BVI units split the purchase of Three Arrows December 2020 position in Grayscale Bitcoin Trust (GBTC) , according to Securities and Exchange Commission (SEC) filings . The Singapore entity was licensed to manage S$250 million ($179 million), according to the Monetary Authority of Singapore . A Singapore-based person involved in the institutional digital assets industry who spoke to CoinDesk on the condition of anonymity said TPS held and traded most of Three Arrows treasury. Another person, in a similar position at an Asia-based institutional crypto firm, also speaking with CoinDesk on a condition of anonymity, said that TPS is where the action was for Three Arrows. Singapores authorities are not impressed Earlier this week the Monetary Authority of Singapore censured Three Arrows for misreporting information about the size of its holdings and issued a reprimand. The reprimand relates to contraventions by [Three Arrows Capital] which occurred prior to its notification to MAS in April 2022. MAS has been investigating these contraventions since June 2021, MAS wrote. Three Arrows provided "misleading" information, according to the regulator. MAS also wrote: In light of recent developments which call into question the solvency of the fund managed by [Three Arrows Capital], MAS is assessing if there were further breaches. But while Three Arrows has filed for bankruptcy in New York (it's yet to declare bankruptcy in Singapore as of July 2), TPS continues to use capital to trade, the people with information said. The question is, can regulators or plaintiffs in the suit pierce the corporate veil between the two firms? LinkedIn Changed Descriptions of TPS Capital on LinkedIn appear to have been changed to eliminate an apparent connection to Three Arrows Capital. Here's what it looked like before: BEFORE: TPS Capital's former Linkedin description. (Retrieved from Google) And here's what it looks like now: AFTER: TPS Capital's new description. (Retrieved from TPS Capital.) || Bitcoin price plunges through important milestone, amid fears of further crypto collapse: (Independent) The price of bitcoin has fallen through $20,000, marking an important milestone in the ongoing collapse of cryptocurrency. It means the value of bitcoin is lower than it has been since 2020, and represents the point at which many analysts had expressed concerns that sentiment could continue to spiral. The drop has been driven in part by the failure of two major cryptocurrency projects: Terra Luna and Celsius. Both were intended as important ways of promoting the stability of digital finance, and have undermined confidence in the technology. But crypto markets are also falling amid the same uncertainty that has rocked traditional financial markets, with worries about inflation and economic growth. The last time the price of bitcoin went through $20,000, it was on its way up in November 2020, driven by a flurry of interest in cryptocurrencies and day trading that emerged seemingly as a result of the pandemic. Now, on its way back down, sentiment around cryptocurrency has changed considerably. The latest plunge follows weeks of falling prices, new worries about the stability of digital money, bad sentiment around the technology industry and more issues. || Ukraine Wins Initial EU Recommendation for Membership Path: (Bloomberg) -- The European Commission recommended that Ukraine be granted candidate status in a symbolic step on the long path to become members of the European Union, commission President Ursula von der Leyen said Friday. Most Read from Bloomberg Putin Gets Unexpected Pushback From Ally Over War in Ukraine Bitcoin, Ether Bounce Off Lows After Record-Breaking Rout Sergey Brin Seeks Divorce, Joining Gates and Bezos in Split Builders Are Slashing Prices to Sell Homes in Fast-Cooling US Markets Putin May Win in Ukraine, But the Real War Is Just Starting The EU’s executive arm approved it with conditions that the pair will have to meet in the future on the rule of law, justice and anti-corruption. The commission also recommended that Moldova and Georgia receive candidate status, with the latter only after it meets specific additional conditions. https://t.co/YUb4jmzzMW pic.twitter.com/s1Bj6IpdNe — Bloomberg UK (@BloombergUK) June 17, 2022 “We have one clear message and that is, yes, Ukraine deserves European perspective. Yes, Ukraine should be welcomed as a candidate country,” von der Leyen said at a news conference. “Important work also remains to be done. The entire process is merits-based. It goes by the book.” The recommendation is particularly significant for Ukraine, which has invested so much of its political future on a closer relationship with Europe as it seeks moral support in countering Russian aggression. “Ukraine is a European state which has given ample proof of its adherence to the values on which the European Union is founded,” the recommendation says. “The commission, therefore, recommends that Ukraine be granted candidate status” on the understanding that it takes a number of specific steps. There’s no existing fast-track path to speed up the arduous membership process, which can normally last more than a decade. Croatia was the last country to join the bloc and its application process lasted 10 years before it was formally accepted in 2013. The final decision to grant the status will have to be approved by all 27 member states. Story continues Germany’s Olaf Scholz, France’s Emmanuel Macron and Italy’s Mario Draghi on Thursday boosted Ukraine’s prospects when they warmly endorsed the membership bid on a visit to Kyiv, reversing earlier hesitation in Paris and Berlin to accelerate the process. They were joined by Romanian President Klaus Iohannis in the highest-profile delegation to visit Ukraine since Russia attacked at the end of February. The bloc’s leaders are set to discuss the matter in Brussels on June 23-24. Backing by member states is not a done deal as some governments, including Denmark and the Netherlands, have previously expressed reservations to granting the status. But with the bloc’s biggest members now on board, it will be difficult for others to block the decision. The steps that Kyiv will need to take, according to an EU document seen by Bloomberg: implement legislation on a selection procedure for judges of the Constitutional Court finalize integrity vetting of candidates for various judicial councils strengthen the fight against corruption, including via the appointment of a new head of the Specialised Anti-Corruption Prosecutor’s Office ensure that anti-money laundering legislation is in compliance with the standards of the Financial Action Task Force implement anti-oligarch legislation tackle the influence of vested interests by adopting a new media law aligned with EU media directives finalize reforms of the legal framework for national minorities The commission plans to monitor Ukraine’s progress in fulfilling these conditions and will report on them by the end of the year, according to the document. Ukrainian President Volodymyr Zelenskiy formally applied to join the EU at the end of February and von der Leyen delivered a membership questionnaire to the Ukrainian president when she visited Kyiv in April. She returned last weekend to Kyiv to discuss the membership recommendation. Ukraine featured 122nd among 180 countries in last year’s ranking by the watchdog Transparency International. Ukrainians took to the streets twice, in 2004 and in 2014, to try to force the government to root out corruption. Support among Ukrainians to join the EU jumped to 91% in a March survey by Rating Group, up from 61% in December. (Updates with von der Leyen confirming candidacy status in first paragraph) Most Read from Bloomberg Businessweek Ethereum Mining Is Going Away, and Miners Are Not Happy Hell Is a Cruise Ship at the Beginning of the Pandemic Sheryl Sandberg’s Wedding Expenses Are the Least of Facebook’s Sheryl Sandberg Problems The Last Bear Market Was Short-Lived. This One Feels Different Adults Who Love Toys? The Toy Industry Loves Them, Too ©2022 Bloomberg L.P. || Are Stock Splits Good for Investors?: Stock splitsare common and usually celebrated by investors.
E-commerce giantAmazon(NASDAQ:AMZN) has become the latest major company to execute a split, dividing its stock on a 20-for-1 basis and lowering the price per share from more than $2,000 to under $125 in the process. In July, Google parent companyAlphabet(NASDAQ:GOOGL) will also initiate a 20-for-1 stock split.
Other significant companies that have announced splits of their stock this year range from high-end furniture retailerRestoration Hardware(NYSE:RH) to Canadian e-commerce companyShopify(NYSE:SHOP).
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
But while stock splits are popular and occur frequently, a debate continues to rage about whether they are necessary or have any meaningful long-term impact. As AMZN stock begins trading on a split adjusted basis, we look at whether stock splits are good for investors.
Companies usually split their stock when the share price has risen to a point where they become too expensive for individual investors to afford.
Amazon stock, for example, last split in 1999, and over the past 23 years it rose more than 4,300% to trade at a 52-week high last summer of $3,773.08 a share. Paying more than $3,500 for one share of a company’s stock can be prohibitively expensive for many individual investors.
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Certainly, AMZN stock is much more affordable and attractive at under $125. By splitting the stock, companies lower the price and make them more affordable to a greater number of investors. Thisexpands the shareholder basethrough increased buying, which can lead to a rally in the share price.
Of course, there can be other reasons for companies to split their stock. These include to boost liquidity, to help a company more affordably buyback its owns shares, and, in rare cases, for legal or regulatory compliance reasons.
But generally, stock splits are carried out when a company feels its share price has gone beyond the reach of average investors. In addition to boosting interest in a stock and enticing investors to buy shares, a split can also lead to a company’s stock being added to a new index.
For example, there is speculation that Alphabet’s stockmight be added to the Dow Jones Industrial Averageafter it splits on July 15 of this year. Were that to occur, GOOGL stock would then need to be added to mutual funds and exchange traded funds (ETF) that track the Dow, leading to even more buying of the stock.
Many analysts and professional investorscriticize stock splits, saying they are a cosmetic procedure that does not change the underlying fundamentals of a publicly traded company or increase the valuation of a stock. This is because there is no change to a company’s market capitalization following a split since the price of each share splits along with the number of shares outstanding.
The pie is still the same size, it’s just been cut into more pieces, say critics.
Additionally, nothing changes with a company’s management or earnings following a stock split. Amazon is the same company today as it was before the 20-for-1 stock split occurred.
Meanwhile, stock splits can be expensive for organizations to execute, and can be a hassle in terms of the legal and regulatory oversight that is involved. Critics grumble that companies spend a great deal of time and money to split their stock while adding no shareholder value.
For these reasons, some companies have refused to ever split their stock. The most famous example beingBerkshire Hathaway(NYSE:BRK.A), the holding company of legendary investor Warren Buffett.
In 1964, Buffett gained a controlling interest in Berkshire Hathaway, at which time its share price was $11.50. Since then, Buffett has increased the share price greatly whilerefusing to split the stock. The result is that today, Berkshire Hathaway’s class A shares recently traded at $469,560 each, putting them far out of reach for most investors.
Berkshire’s class A shares are the most expensive security in the world and the huge price per share has caused headaches for the New York Stock Exchange over the years.
While he has acknowledged that the price of Berkshire Hathaway’s class A shares is “awkward,” Buffett’s has said repeatedly that he’ll never split the stock. His reasons include that the high price attracts only serious investors who will hold the shares long-term. If he were to split the stock, Buffett has said, it would likely attract more speculative investors and lead to more active trading of the shares.
“We want to attract shareholders who are as investment-oriented as we can possibly obtain, with as long-term horizons,” Buffett has said.
The Oracle of Omaha, as Buffett is known, also likes to joke with his friends, saying “May you live until the A stock splits.”
That said, in 1996,responding to criticismfrom the investment community, Buffett created a cheaper class ofB shares(NYSE:BRK.B) that trade for far less than the price of the class A stock, making them much more affordable at their recent price of about $312.
Today, there are just over 600,000 class A shares of Berkshire Hathaway outstanding, compared to more than a billion class B shares.
How people feel about stock splits largely depends on the type of investor they are. Individual retail investors tend to welcome stock splits as it provides them with access to shares in a company that might have been previously too expensive for them to buy.
An investor who had $2,000 to spend wouldn’t have been able to buy one single share of AMZN stock before it split on June 6. But now, that same investor canbuy more than 15 sharesof Amazon stock with $2,000.
Deep pocketed institutional investors and professional money managers who have access to millions or billions of dollars tend to dismiss stock splits as insignificant. But for them, spending $2,000 or $3,000 on a single share of a company’s stock is not overly expensive.
Judging by the number of companies that continue to line-up tosplit their stock, publicly traded concerns continue to see value in the practice of making their shares as affordable as possible to the broadest number of investors. The fact that a stock split can help individuals take a position in a company’s stock makes them of value.
That stock splits don’t change the fundamentals of a company or increase the valuation of a stock is not really the point of a split.
Disclosure:On the date of publication, Joel Bagloleheld long positions in GOOGL and BRK.B. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
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The postAre Stock Splits Good for Investors?appeared first onInvestorPlace. || Bitcoin Sees Resistance at $21K as Investors Record Losses of Over $7B: Glassnode: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
Investors exited bitcoin (BTC) positions worth a record $7.3 billion over the past few days, amounting to the biggest U.S. dollar denominated losses in the asset’s history, data from analytics firmGlassnodeshows.
Realized loss denotes the total loss (U.S. dollar value) of all moved coins whose price at their last movement was higher than the price at the current movement, as per Glassnode. The tool can be used to measure how many coins moved at any particular price.
Approximately 555,000 BTC have changed hands between prices of $18,000 and $23,000, a strong support and resistance level respectively for the asset ranged over the past few days, the firm said. Losses ranged between $1.5 billion and $2 billion each day, data shows.
Long-term holders, or those holding BTC for a period longer than 155 days, liquidated over 178,000 BTC at prices below $23,000, the data showed. However, these liquidations accounted for only 1.31% of the total holdings.
As per blockchain data, some of these holders purchased their coins at $69,000, bitcoin’s lifetime high, and sold at $18,000, taking on a loss of nearly 75%, Glassnodesaid.
Such liquidations could have contributed to bitcoin falling to under $20,000 over the weekend. Bitcoin fell to as low as $18,319 a coin while its market capitalization slumped to about $350 billion, a 73% decline from its November all-time high, as previously reported.
Bitcoin saw resistance at $21,000 on Monday morning after a relief rally saw some $2,000 added to prices over the past 24 hours. The $21,000 level has acted as support in the past weeks, price charts show.
In broader futures markets, bitcoin futures racked up some $436 million in liquidations over the past three days. Long options, or bets on higher prices, took on a majority of these losses,datafrom Coinglass shows.
The move came as bitcoin fell steeply last week amid a fall in the broader equity market as inflation exceeded analyst estimates and the U.S. Federal Reserve (Fed) hiked rates by 75 basis points – the highest in 28 years.
Meanwhile, Glassnode analysts said data at current price levels suggested a market bottom. “We can see that as prices hit the $17,000 lows [Sunday], just 49% of the $BTC supply was in profit,” the firmsaid in a tweetciting its Percent Supply in Profit tool.
“Historical bear markets have bottomed and consolidated with between 40% and 50% of supply in profit,” Glassnode said.
However, tradersremain cautiouswith some stating that macroeconomic conditions must improve and the Fed’s aggressive approach to monetary policy should subside before crypto markets see a bottom. || Cardano (ADA) Price Prediction: ADA Likely to Test Annual Lows Around $0.39 Soon: Key Points Cryptocurrency sentiment is upbeat on Friday as strong US data ease recession fears and Fed tightening bets are wound in. Cardano has failed to take advantage of the improvement in sentiment, with a trendline capping its upside. It seems likely that ADA will test its annual lows around $0.39 soon. Market Update Cryptocurrency sentiment is upbeat on Friday, with major coins all advancing and speculative altcoins outperforming. Bitcoin was last trading higher by about 4.0% in the last 24 hours according to CoinMarketCap and was last changing hands just below $21,000. Ethereum , meanwhile, was last changing hands at around $1,230, up over 10% in the last 24 hours. US data released on Friday argues for the Fed to “only” raise interest rates by 75 bps later this month, rather than the 100 bps move some analysts had been calling in wake of alarmingly high headline inflation figures released on Wednesday. US Retail Sales data released on Friday remained robust and Consumer Sentiment data was also better than expected, easing fears about a near-term US recession. But that didn’t trigger fears that the Fed would become more emboldened to hike rates aggressively given the still robust economy, as the latest consumer inflation expectations numbers released by the University of Michigan showed a decline in consumer inflation fears. It is crucially important for the Fed to keep long-term inflation expectations anchored close to 2.0% in order to maintain its credibility, so the latest developments will likely ease fears at the bank. Next week is a fairly quiet one so far as US macro events are concerned. Fed speak will be closely scrutinized, with the latest Fed members to have spoken all doubling down on thinking a 75 bps rate hike later this month as appropriate, rather than calling for a 100 bps move. As of Friday, the market-implied odds of a 100 bps rate hike later this month had fallen back to around 30% from as high as 75% on Thursday. Story continues Cardano (ADA) Price Prediction The native token to the Cardano blockchain ADA was last trading slightly in the red on Friday, as the cryptocurrency lags a broadly more upbeat crypto market. The cryptocurrency was last changing hands around $0.44 per token, still a healthy 9.0% up versus Wednesday’s lows near $0.40, but still down about 5.0% on the week. ADA broke below a key level of medium-term support earlier in the week, an uptrend from the May annual lows. This uptrend which was formerly providing support has now turned into resistance and is capping ADA/USD upside for now. The cryptocurrency’s failure to break back above this area of resistance suggests that the bears remain in control. A test of annual lows around $0.39 seems likely in the sessions ahead, assuming that the broad upturn in crypto risk appetite doesn’t go into overdrive in the coming days/weeks. ADA/USD struggling since breaking below pennant. Source: FX Empire As noted in previous articles, $0.39 is a key area of long-term support for ADA. A break below it could open the door to a cascade of selling pressure that could push the cryptocurrency all the way below the $0.20s. That would be another 60% drawdown from current levels. ADA is already trading lower by about 85% versus its August 2021 record highs above $3.0. ADA/USD at risk of fall to sub-$0.20 levels if $0.39 support goes. Source: FX Empire This article was originally posted on FX Empire More From FXEMPIRE: Wall St ends tumultuous week with strong rally as rate hike fears wane Analysis-Set free or set back? Manchin narrows Biden’s climate options U.S. panel probing Capitol attack to ask Secret Service about text deletion Shiba Inu and Dogecoin Move by 4% Despite Market Cap Rising to $913B Biden confronts Saudi crown prince over Khashoggi murder, expects action on energy Chile central bank to intervene in currency market after peso slump || Factbox - Singapore's rise, and falter, as Asia cryptocurrency hub: By Alun John and Chen Lin HONG KONG/SINGAPORE (Reuters) - Singapore's burgeoning cryptocurrency sector has been shaken by the recent collapse of Three Arrows Capital, a cryptocurrency hedge fund, and signs of tighter scrutiny by regulators at the Monetary Authority of Singapore. Following are key facts about the rise of Singapore as an Asian cryptocurrency hub, and the fallout from the Three Arrows collapse. HOW IMPORTANT IS SINGAPORE TO ASIA'S CRYPTO SECTOR? Investment in Singapore's crypto and blockchain companies surged to $1.48 billion in 2021, according to KPMG, ten times the previous year and nearly half the Asia Pacific total for 2021. PwC says 6% of the world's crypto funds are based in Singapore, ranking it a joint third globally - along with Switzerland and Hong Kong - behind the U.S. and UK. Singapore, one of Asia's main investment banking and asset management centres alongside Hong Kong, is keen to establish a leading role in financial technology, including blockchain and crypto. WHY HAS SINGAPORE ATTRACTED CRYPTO BUSINESS? The scale and range of Singapore's crypto companies and service providers attracted digital asset companies fleeing regulatory crackdowns elsewhere. These include Huobi, a crypto exchange initially focused on China that now has a major presence in Singapore. U.S. firms like crypto exchange Gemini have set up regional Asia headquarters in Singapore. The citystate was also a forerunner in developing a licencing regime for crypto companies, which attracted many companies hoping the endorsement of a leading regulator would help them to win business. Other industry leaders such as crypto exchange Coinbase have applied for licences in Singapore. DBS, Singapore's largest bank, has launched its own crypto exchange. WHY DID 3AC COLLAPSE? Digital currencies have been on the backfoot for months, with Bitcoin losing roughly half its value since the start of May. The sell-off was triggered by the collapse of stablecoin TerraUSD and its paired token Luna, resulting in large losses for holders such as 3AC. The company lost about $200 million of its investment in Luna, an executive told the Wall Street Journal last month, adding that the company was still trying to quantify its losses. Story continues According to U.S. court filings, several of 3AC's lenders have issued it notices of default. WHAT IS SINGAPORE'S REGULATORY STANCE? The Monetary Authority of Singapore's statements have indicated a welcoming approach, encouraging crypto-related services https://www.mas.gov.sg/news/speeches/2022/mas-approach-to-the-crypto-ecosystem. At the same time, some companies say the authorities' soothing rhetoric belies an occasionally harsh regulatory stance. Only a handful of approvals have been granted so far among well over 100 applicants for new crypto payments licences. Chia Hock Lai, co-chairman, Blockchain Association Singapore, said there were currently well over 200 crypto businesses in Singapore, but several had shut down or moved out after the licencing regime came in. The most high-profile of these is Binance, the world's largest crypto exchange, which left Singapore last year as it came under close scrutiny around the world. Like regulators elsewhere, MAS has also indicated that it would take a tough stance on money laundering, consumer protection, and other risks that may be associated with the digital currency sector. Tharman Shanmugaratnam, Senior Minister and chairman of the MAS, told parliament last week that the regulator was considering additional consumer safeguards for cryptocurrency trading, although he did not mention 3AC. (Reporting by Alun John and Chen Lin; Editing by Edmund Klamann) || US stocks rise as investors digest comments from central bankers and assess outlook for the economy: • US stocks climbed on Wednesday as investors digested comments from a meeting of central bankers.
• Morgan Stanley warned the Federal Reserve's accelerated rate hikes have doubled the odds of a recession.
• First-quarter GDP readings were revised lower to show a 1.6% contraction.
US stocks edged higher on Wednesday as markets took in comments from a meeting of central bankers and assessed the potential for the economy to avoid a recession.
Investors were looking to comments from Federal Reserve Chairman Jerome Powell, who was speaking at the European Central Bank forum as warnings pile up about the state of the economy and the potential for a recession.
According to reports, the US central bank chief commented that he was hopeful the economy could be steered towards a soft landing, though he admitted it would be challenging.
The Commerce Department revised its reading on first-quarter GDP lower to show a 1.6% contraction, down from an initial print for a 1.5% drop.
Here's where US indexes stood as the market opened at 9:30 a.m. on Wednesday:
• S&P 500:3,825.34, up 0.1%
• Dow Jones Industrial Average:31,033.47, up 0.28% (86.48 points)
• Nasdaq Composite:11,172.08, down 0.13%
Top economist Mohamed El-Erian warnedinvestors are right to be worried about a US recessionas consumer and business confidence falls, while the risk of the Federal Reserve making a policy mistake also rises.
Morgan Stanley Wealth Management's investment chief predictedthe S&P 500 will plunge another 10% before bottoming out,saying the Fed's accelerated rate hikes have doubled the odds of a recession.
Meanwhile,the Fed won't worry about stocks fallinguntil panic floods the markets, as it's focused on controlling inflation, Guggenheim's Scott Minerd said.
Oil prices rose, withWest Texas Intermediate crudeup 1.42% to $113.35 per barrel andBrent crude,the international benchmark, up 1.31% to $119.53.
Goldadded 0.66% to $1.833.30 per ounce. The10-year yielddropped 4.7 basis points to 3.16%.
Bitcoinwas down 1.32% to $19,993.
Read the original article onBusiness Insider || UFC Taps VeChain as First Official Layer 1 Blockchain Partner: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
VeChain has signed on to be the first official layer 1, or base layer, blockchain partner for mixed martial arts organization UFC.
According to anannouncement post, the partnership includes a variety of integrations into UFC live events and original content for its digital and social media channels, starting Saturday, June 11.
• Sports Business Journal sourcessaid the deal was worth nearly $100 million across a minimum five-year deal period. CoinDesk reached out to VeChain for comment but hadn’t received a response by press time.
• VeChain'sVETtoken has moved modestly higher on the news, now up 2.4% per CoinDesk data.
• The partnership marks the latest crypto-centric move for the UFC. In April,Crypto.com announcedit would pay bitcoin (BTC) bonuses to UFC fighters.
• Under the multi-year agreement, VeChain will have the rights for official UFC fighter rankings, providing visibility across live broadcasts and the UFC’s online presence. VeChain will also have a branded presence inside the UFC’s Octagon at 42 annual events and the 10-event Dana White Contender Series.
• The two will collaborate on a range of original content featuring UFC talent and athletes, and an annual Brand Ambassador fund will offer paid marketing opportunities to UFC athletes.
• VeChain is a blockchain platform specializing in real-word blockchain applications such as supply chain management and business processes. Previous partnerships have included Walmart, Bayer and BMW Group, among others.
• “It is a historical moment when VeChain, the layer 1 public blockchain with the most enterprise adoption, joins forces with the fastest growing sport to raise awareness that blockchain technology is critical in helping deliver major global objectives, such as sustainability,” said VeChain co-founder and CEO Sunny Lu.
Read more:UFC Joins NBA, NFL in Dapper Labs’ Sports NFT Suite
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 23389.43, 23231.73, 23164.63, 22714.98, 22465.48, 22609.16, 21361.70, 21239.75, 22930.55, 23843.89
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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 2015-04-27]
BTC Price: 229.29, BTC RSI: 45.38
Gold Price: 1203.30, Gold RSI: 52.94
Oil Price: 56.99, Oil RSI: 62.60
[Random Sample of News (last 60 days)]
Coin Outlet Acquires LibertyX Bitcoin ATM Network: BURLINGTON, NC--(Marketwired - Mar 2, 2015) - Coin Outlet Inc is taking another step towards being the biggest Bitcoin ATM network by acquiring LibertyX's (formerly Liberty Teller's) ATM network. The four LibertyX machines will be rebranded as Coin Outlet ATMs but will still remain in their existing locations.
LibertyX gained fame for launching the very first Bitcoin ATM in the United States at Boston's South Station, only a year ago. LibertyX Co-Founder Chris Yim said the decision to sell the ATM arm of their company to Coin Outlet was "a natural evolution of their business and allows them to scale quickly and focus on adding partners and services to their existing 2,500 cash-to-bitcoin store locations."
Coin Outlet is also pleased to announce a newly developed backend network ecosystem that the Lamassu machines hook into. This system will allow any existing Bitcoin ATM machine or existing traditional ATM machine to exist on the Coin Outlet platform, regardless of the hardware platform of that machine.
With this development, Coin Outlet will have the capital-raising ability to acquire existing viable ATM markets with proven revenue streams, and grow rapidly.
Eric Grill, Coin Outlet's CEO, explains, "Integrating other hardware solutions into our backend network is part of our expansion strategy as it opens the door for more acquisitions and further scaling of the Coin Outlet network."
Coin Outlet, INC:Coin Outlet, INC. is a rapidly growing startup that manufactures and operates AML/KYC-compliant Bitcoin ATMs with two-way transaction functionality. It provides a convenient means for the general public to safely buy and sell bitcoins with cash. Coin Outlet is proudly supported by its lead investor Bitcoin Shop, Inc. (OTCQB:BTCS) which is building a universal digital currency platform under the BTCS ("Blockchain Technology Consumer Solutions") brand.
More information about Coin Outlet can be found atwww.coinoutletatm.comand investor information is atangel.co/coinoutlet-2 || Exclusive: Bitcoin exchange itBit seeks New York banking licence: By Lauren Tara LaCapra NEW YORK (Reuters) - 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. 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. Story continues 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) || Iran Ripe For Investment Once Sanctions Are Lifted: From oil to consumer goods, Iran is becoming a sought after marketplace as the potential of a nuclear deal removing Western sanctions is looking more and more likely.
Everyone from individual investors to major companies is looking at the Middle Eastern nation as an emerging market with an enormous amount of untapped potential.
Investment In Oil
Whileoil pricesare likely to take a hit with the introduction of Iranian oil to the market, the Iranian oil sector is a valuable investment for U.S. and European companies looking to enter the nation's market.
In September, Iranian officials areplanninga conference in London, at which foreign firms can evaluate the conditions of new oil contracts.Expectations are highthat Western companies will be interested in taking on joint ventures with Iran's National Iranian Oil Company once the sanctions have been lifted.
Related Link:Could The Iran Nuke Deal Really Push Oil Prices Down Another ?
Banking
Iran is home to nearly 80 million people, providing a huge market that could become even more attractive than the nation's wealth of natural resources. At the moment, only a sliver of that population has a debit card and even fewer have any debt.
For that reason, Western financial firms are likely to make their way into Iran as soon as possible with the introduction of credit cards and borrowing.
Consumer Products
Iranians spent $77 billion on food and $22 billion on clothes in 2012 despite the strict sanctions, as reported by the Wall Street Journal, so it's safe to assume that consumer products' firms will be looking to enter Iran's market as well.
Some say that the nation's population is nostalgic for American-made goods, especially cars, that used to be available before the sanctions were in place.
Risks
While the figures may look good on paper, many companies are likely to be hesitant to expand into Iran at first. For some, there are ethical issues about investing in a country that has been associated with terrorism. For others, there is a worry that the nuclear deal won't hold up.
Even if the West and Iran can iron out a concrete agreement by the end of June, there is a possibility that Iran won't comply with the terms of the agreement at some point in the future, which could mean more sanctions that would prevent businesses from moving their money out of Iran.
Image Credit: Public Domain
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Chinese yuan dominates 80% of Bitcoin trades: China's craze for bitcoins has been well-documented over the past year, but a new report highlights just how dominant of a player the country is. About 80 percent of bitcoin volume is now driven by the Chinese yuan (Exchange:CNY=) , according to data from Goldman Sachs (NYSE: GS - News ) . The U.S. dollar is the second most used currency for transactions, followed by the euro, the bank said in a new report. The bank's findings correlat e with data from Bitcoinity, a popular website used to track market data. A look at trading volume over the past six months reveals China's yuan accounted for 77 percent of total market share, compared with 19 percent for the greenback (New York Board of Trade (Futures): =USD) and just 1 percent for the euro (Unknown:EURBA=) . China's high trading activity comes despite recent moves by the People's Bank of China (PBoC) to clamp down on the crypto-currency. The central bank banned financial institutions from bitcoin trading in December after warning that the currency was essentially a vehicle for speculation. Earlier in 2014, the PBoC also took measures to prevent bitcoin companies from gaining access to payment processors. However, Goldman Sachs believes the mood is gradually improving: "However, in light of a somewhat stabilizing Bitcoin economy in China, a few payment processors have reemerged, such as BTC China's JustPay." Bitcoin's future in China is expected to keep expanding as the country becomes a major mining hub, according to a U.S.-China Economic and Security Review Commission report last year. Read More Feds auction $13.5M worth of Silk Road bitcoins The mainland boasts an enormous online gaming community, where games like World of Warcraft allow players to trade virtual credits earned in the game for cash or real goods and services. The practice is called "gold farming" and can be seen as a precursor to bitcoin mining, the report said. "One prominent figure in Beijing's Bitcoin circles estimated that China's miners, composed mainly of hardware engineers and IT aficionados, number in the tens of thousands." Story continues Goldman Sachs expects global bitcoin acceptance to continue growing thanks to the currency's potential for transforming the remittance market. "Bitcoin and other crypto currencies enable the potential for faster transactions with lower transaction fees. The Bitcoin network can charge as little as zero for processing transactions if there is no time constraint for confirmation." Moreover, concerns over fluctuations in bitcoin prices won't apply to money transfers due to the speed of the transactions and the fact that customers are given rates in advance, Goldman added. More From CNBC Bitcoin is done with its 'tumultuous teen' years Bitcoin finds a place among the world's elite Bitcoin gets first regulated US exchange || Bitcoin Foundation Accused: Misleading Members: Bitcoin received another blow to its image over the weekend, when newly elected Bitcoin Foundation board member Olivier Janssens announced that the Foundation was "effectively bankrupt" and accused the group's leadership of misleading the public.
Janssens' claims have yet to be verified, but the Foundation released a statement on Tuesday denying those claims, though the damage may have already been done.
Poor Management
The Bitcoin Foundation has been an advocate for thecryptocurrency's mainstream adoption, but Janssens said that poor decision making and misleading the public has made it a poor example for the community.
Related Link:Rand Paul Uses Bitcoin To Boost His Campaign
In a blog post titled "The Truth About the Bitcoin Foundation," Janssens detailed how the Foundation nearly ran out of money last year and fired 90 percent of its staff.
Janssens also called on current members to organize a vote to replace the entire board or shut down the Foundation completely.
Foundation Denies Claims
The Foundation responded on Tuesday with an official blog post claiming that Janssens' claims were completely unfounded.
The post admitted that the foundation has been struggling with funding due to the sharp decline in bitcoin's value, but claimed it was not bankrupt. The post also said that many of its staff left voluntarily, and although the foundation did "downsize," it did not fire 90 percent of its workers.
Difficult To Move Forward
Now it will be up to members of the bitcoin advocacy group to determine how this public dispute is settled. The Foundation's head of core developers responded to Janssens' post, saying that it was important to move forward legally and transparently in order to restore the Foundation's image, though many believe the organization has already lost the public's trust.
Image Credit: Public Domain
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Digital Currency Student Debt Solutions Offered by Bitcoin Alternative DNotes with Long Term Savings Plans for Students: DNotes Launched the First Cryptocurrency Investment Savings Plan (CRISP) for Students, Aimed at Providing Them Multiple Solutions and Opportunities; Universities, Schools and Clubs will be Apportioned Codes Allowing Enrolled Students to Register to be Awarded 500 free DNotes ILLINOIS, USA / ACCESSWIRE / March 30, 2015 / Market stable cryptocurrency DNotes launches their third long term Cryptocurrency Investment Savings Plan (CRISP) for Students. Following the launch of CRISP for Kids and CRISP for Retirement. While Bitcoin has struggled with explosive volatilities, second generation Bitcoin alternative DNotes has achieved remarkable stability and reliable appreciation since inception, making it a viable savings alternative with potential high returns that could help students avoid crippling student loan debt upon graduation. DNotes Co-Founder Alan Yong explained that student debt hardship is a growing global problem, with damaging implications in future job and wealth creation for students. This global problem can be a great opportunity for DNotes and participating students. CRISP For Students mission is to engage and involve students worldwide to participate by having an ownership stake in the most innovative technology revolution since the Internet, positioning them to benefit from potential high returns and job opportunities. These students will become the next generation of DNotes' leaders, innovators and stakeholders, who will provide further solutions to global problems. Humanity now lives in a hyperconnected world and by the year 2020 more than five billion people worldwide will be equipped with smart phones that are even more powerful and feature rich. New technologies are making it possible to solve problems on a global scale that were previously impossible to solve. Bitcoin is one such technology considered by many as the most innovative and disruptive since the Internet. Essentially, Bitcoin is the future of money; a decentralized digital currency, coupled with an immensely powerful Blockchain that removes the need for trusted third parties in financial transactions. Story continues Alan Yong, DNotes Co-Founder and pioneer of the first commercial tablet computer, warns that student loans are a major threat to long-term wealth accumulation and overall student well-being. Yong points to research by the Assets and Education Initiative (AEDI), that found students with outstanding debt, regardless of how little, are more likely to defer the purchase of revenue generating assets till later in adulthood. Yong added that, "The current student generation may not have access to publicly funded retirement entitlements in the future. This is why the DNotes team has moved to alleviate inadequate private savings. CRISP For Students will assist students to get started with a digital savings account without having to pay for it, allowing them to gain immediate exposure and experience with digital currency - the future of money." DNotes Director of CRISP For Students, Timothy Goggin, said that universities, schools and related clubs will be apportioned codes that will allow enrolled students to register to be awarded 500 DNotes. Students will be asked to provide their code, e-mail, institution and course of study. If a student is unable to register, they will be prompted with instructions on how to best ascertain a code from their institution of study. Some students may also be employed to help the DNotes team with ongoing projects and marketing, while earning crucial work experience with people in the top of their field. Central to DNotes long term strategic plan is the creation of highly scalable building blocks, as the foundation of its own ecosystem. Those strategic building blocks include CryptoMoms; a currency neutral site dedicated to encourage female participation, DNotesVault; free and secure storage for DNotes' stakeholders with 100% deposit guarantee, and CRISPs; a family of Cryptocurrency Investment Savings Plans. CRISP for Students will become an integral part of DNotes ecosystem, with plans to include a conduit of scholar funds and an online global student marketplace. This is a global initiative to build the next generation of DNotes leaders and stakeholders, leading to mass consumer and mass merchant adoption of DNotes as a medium of exchange. Universities, students, clubs and schools worldwide are invited to contact DNotes at [email protected] to arrange for distribution of free DNotes to students to initiate their cryptocurrency savings, and to learn of other exciting opportunities in the world of emergent digital currencies. About DNotes And Alan Yong: DNotes co-founder Alan Yong established personal computer company Dauphin Technology in 1988, which had contracts with IBM, the U.S. Department of Defense and the U.S. Department of Treasury. Having been well regarded as a visionary of a different tech era, emerging cryptocurrencies remind Yong of the early years of personal computers in the late 1980's. For more information about us, please visit http://dnotesvault.com/crisp-for-students.php . Contact Info: Name: Alan Yong Email: [email protected] Organization: DNotes SOURCE: DNotes || Exclusive: Bitcoin exchange itBit seeks New York banking licence: By Lauren Tara LaCapra NEW YORK (Reuters) - 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. 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. Story continues 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) || 4 ways to trade big telecom: "Innovator" T-Mobile (NYSE: TMUS) may put more pressure on telecom industry leaders as it continues to roll out cheap alternatives, CNBC "Fast Money" trader Steve Grasso said. "The other names are probably going to take a hit because their margins are going to get squeezed," said Grasso, who owns T-Mobile stock. The telecom company on Wednesday announced new calling and data plans for businesses. Grasso believes the move will help T-Mobile cut into telecom giants AT&T (NYSE: T) and Verizon (NYSE: VZ) , which account for 87 percent of wireless revenue from businesses. T-Mobile moved about half a percent lower, around $33 per share, in extended trading. Read More FCC needs to close auction loopholes AT&T and Verizon still look more appealing than T-Mobile, said trader Brian Kelly. AT&T closed 2 percent higher, below $34 per share on Wednesday, while Verizon closed 1 percent higher, above $49 per share. Trader Pete Najarian looked to a telecom name outside the U.S. He said China Mobile (Hong Kong Stock Exchange: 941-HK) is his favorite stock in the sector, as it has been "crushing it." The stock closed more than 2 percent higher on Wednesday, above $67 per share. Read More What is 5G, and what does it mean for consumers? Disclosures: Pete Najarian Pete Najarian is long AMAT, BABA, BAC, BMY, BP, CSX, DISCA, FOXA, GE, KKR, KO, LLY, LOCO, MRK, PEP, PFE and SAP. He is long calls AAL, AAPL, AMD, BABA, BAC, BK, CAM, CDW, CLR, COP, DAL, FB, FEYE, GE, GM, GRPN, GS, GT, HCP, HPQ, IAG, JPM, KO, KNDI, KRFT, LYB, MSFT, NEE, PEP, RAD, RF, RIG, SPY, SYY, TEVA, UAL, UFS, WFC, WMB, XLNX and XOM. He is long puts BHP. Today he bought RAD calls and SAP. Brian Kelly Brian Kelly is long BTC=, U.S. dollar, GLD, CTRL calls, HYG puts, BBRY, BBRY call spreads and TLT. He is short EWA, EWQ, EWZ, EWW, JJC, Canadian dollar, yen and yuan. Karen Finerman Karen Finerman is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, M and KORS. She is short DIA. Her firm is long AAPL, BAC, C, CMLS, DIS, FINL, FBT, FL, GPS, GOOG, GOOGL, GLNG, LPG, IBB, JPM, M, KORS, NAP, OIH, XBI, SUNE and URI. Her firm is long calls URI. Her firm is short MOY, IWM, SPY and USO. Karen Finerman is on the board of GrafTech International. Story continues Steve Grasso Steve Grasso is long BA, CLVS, EVGN, FB, GDX, GOOGL, IMMR, KBH, KDUS, MHY, MJNA, PFE, POT, SO, T, TMUS and TWTR. His firm is long AMZN, NE, NEM, OXY, RIG, VALE, AVP, KO, MCD amd USO. His kids are long EFG, EFA, EWJ, IJR and SPY. More From CNBC CNBC.com News Page CNBC.com Blogs Page CNBC.com Earnings Central || Yoox Merger With Net-a-Porter Creates A Force To Be Reckoned With: Online retail has traditionally been associated with low cost, but Italy's Yoox SpA (OTC: YXOXF ) and fashion website Net-a-Porter have proven that there is also a market out there for online luxury retail. Now the two have decided to join forces and cement their position as a major player in the quickly growing industry. On Tuesday, Yoox announced its plans to buy high-end fashion website Net-a-Porter in an all stock deal that will create Yoox Net-a-Porter Group, estimated to be worth around $2.86 billion. The new company is expected to generate over $1.4 billion worth of revenue per year. Luxury Moves Online The merger comes at a time when online retail is taking off and luxury goods consumers are beginning to turn to the web rather than visiting brick and mortar stores. Its estimated that about 40 percent of the world's luxury brands can't be found online, but that statistic is slowly changing as high-end department stores like Neiman Marcus Group and Saks Inc establish more of an online presence. Related Link: Can Tidal Compete With Existing Music Streaming Services? The Best Of Both Worlds Retailers like Amazon.com, Inc. (NASDAQ: AMZN ) and Alibaba Group Holding Ltd (NYSE: BABA ) have become increasingly interested in the fast growing luxury market, but Yoox and Net-a-Porter have the advantage of experience on their side. Yoox is responsible for the technology behind several high-end designers' websites and runs three designer clothing retail sites of its own, while Net-a-Porter's business focuses exclusively on selling designer clothing and footwear. Yoox founder and CEO Federico Marchetti told the New York Times that the merger will allow both companies to benefit from the other's strengths. Net-a-Porter is well known for its editorial content and ability to engage customers, something that Marchetti said Yoox is lacking. See more from Benzinga TV For Babies Expanding Despite Controversy Meet The 3 Companies Goldman Sachs Says Are Leading The Bitcoin Revolution Verizon To Offer Original Programming © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin fund for the public?: Now everyone can have a slice of the Bitcoin market. Bitcoin Investment Trust , or BIT, is slated to become the first publicly traded Bitcoin fund. The Wall Street Journal reports BIT has been racing a fund offered by the Winklevoss twins to be the first to launch publicly. Currently BIT is only available to accredited investors with incomes greater than $200,000 per year or assets above $1 million. Will opening the trust to the public give greater legitimacy to Bitcoin? Not quite, says Yahoo Finance Senior Columnist Michael Santoli . “The way they're winning the race to the public markets is by taking a shortcut and doing it on the Over-The-Counter market,” he notes. “It’s not going through a full SEC review for a regular exchange, which the Winklevoss fund is doing. I don’t really think they've magically gotten legitimacy for Bitcoin as an asset class, but I do think it shows you this is an area that’s maturing.” Get the Latest Market Data and News with the Yahoo Finance App The value of Bitcoin has plummeted over the past year, from over $800 per coin in 2014 to under $300 today. Santoli points out that the uses for Bitcoin are not limited to just being a store of value. “The optimists will say, and I’ve often wondered about this, it can be a really good payment protocol without necessarily having each Bitcoin worth all that much,” he says. “It’s not clear to me they have to operate in tandem like that.” Total market capitalization for cryptocurrencies is over $4 billion, according to coinmarketcap.com . Santoli notes that Bitcoin is not a particularly large asset class. “Remember the number of Bitcoin is going to be capped at some point down the road,” he says. “It’s not as if it can accommodate the world deciding that this is a great place to store some money, or replace gold for example, unless the price goes up a whole lot.” Santoli adds that the trust funds won’t smooth out Bitcoin's volatile pricing immediately. “They'd have to get a lot bigger relative to the size of the Bitcoin market, and that's not what you want to see as far as I'm concerned. I don't think you want it to be a speculative instrument.”
[Random Sample of Social Media Buzz (last 60 days)]
Current price: 244.29$ $BTCUSD $btc #bitcoin 2015-04-09 00:40:01 EDT || In the last 10 mins, there were arb opps spanning 22 exchange pair(s), yielding profits ranging between $0.00 and $1,088.98 #bitcoin #btc || 2015年3月9日 11:00:08
btc_jpy
直近[last]:33940円
買[bid]:33357円
売[ask]:33939円
高値[high]:34100円
安値[low]:32920円
API by Zaif || current #bitcoin price (winkdex) is $222.79, last changed Sat, 18 Apr 2015 04:50:00 GMT. queried at: 04:52:40 || Current price: 181.5£ $BTCGBP $btc #bitcoin 2015-03-07 21:00:03 GMT || In the last 10 mins, there were arb opps spanning 24 exchange pair(s), yielding profits ranging between $0.00 and $268.64 #bitcoin #btc || Current price: 215.65€ $BTCEUR $btc #bitcoin 2015-04-25 00:00:05 CEST || current #bitcoin price (kraken) is $221.97962, last changed Wed, 15 Apr 2015 00:42:27 GMT. queried at: 00:42:27 || 2015年4月5日 00:20:09
btc_jpy
直近[last]:30687円
買[bid]:30367円
売[ask]:30682円
高値[high]:30999円
安値[low]:30000円
API by Zaif || Доброе утро!
Средний курс Биткоин на сегодня: 1.00 BTC = 290.4342 USD
Удачных торгов, друзья, и непрерывного профита!
|
Trend: up || Prices: 225.85, 225.81, 236.15, 232.08, 234.93, 240.36, 239.02, 236.12, 229.78, 237.33
|
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 2022-10-21]
BTC Price: 19172.47, BTC RSI: 45.99
Gold Price: 1651.00, Gold RSI: 44.35
Oil Price: 85.05, Oil RSI: 47.76
[Random Sample of News (last 60 days)]
Exchange Giant CME’s Bitcoin Futures Just Hit a Huge Discount to Spot Prices: Bitcoin (BTC) futures at the Chicago Mercantile Exchange, one of the world’s biggest derivatives markets, just traded at the largest discount to spot prices in at least 2 1/2 years after a big market plunge and right before August contracts expire . Arcane Research keeps tabs on the average difference between CME’s front-month bitcoin futures – those expiring soonest – and the current market price for bitcoin itself for rolling one-month periods. On Monday, that showed front-month futures at a 3.36% discount. That’s a record low in the firm’s dataset that goes back to Jan. 1, 2020 – though CME bitcoin futures have been trading since December 2017 . That surpassed the previous low of minus 2.39% set on July 21, 2021, which was followed by a hefty short squeeze , according to Arcane. CME futures have traded at a discount over the last two months but witnessed a short-lived recovery at the start of the month when there was some momentum in the market. Early in August, bitcoin briefly reached $25,000. But it sank below $21,000 on Aug. 19. “The growing discounts in the front-month contracts might be explained in part by structural effects,” Vetle Lunde, an analyst at Arcane Research, said in a report. The report said the ProShares Bitcoin Strategy ETF (BITO) has begun rolling its August contracts into contracts that expire later, possibly causing downward pressure on the front-month contracts. Monday, BITO rolled over 1,000 August contracts and will roll over a further 3,000 August contracts by Friday. Previous times when the exchange-traded fund rolled over exposures, front-month contracts have tended to move toward discounts to spot, according to Arcane. “Still, such extreme discounts have not appeared during previous rolling periods,” Lunde said. “They might be a symptom of worsening liquidity or general de-risking as S&P 500 and Nasdaq see a tumultuous start to the week while the dollar strength index pushes towards new highs.” Read more: CME Group Adds to Crypto Offerings With Ether Options || First Mover Asia: Bitcoin Falls to $19.6K as Investors Continue to Mull Fed Chair's Comments: Good morning. Here’s what’s happening:
Prices:Bitcoin and ether traded down over the weekend.
Insights:Analysts saw Fed Chair Jerome Powell's speech for what it was: an unbridled commitment to tame inflation.
Catch the latest episodes ofCoinDesk TVfor insightful interviews with crypto industry leaders and analysis. Andsign up for First Mover, our daily newsletter putting the latest moves in crypto markets in context.
Bitcoin Falls Below $20K
By James Rubin
After clinging tenaciously to support above $20,000 for much of the weekend, bitcoin fell well below this threshold late Sunday.
The largest cryptocurrency by market capitalization was recently trading at $19,600, down more than 2% over the previous 24 hours. Ether, the second-largest crypto in market value, was recently changing hands at roughly $1,430, down more than 4% as investors continued to chew over U.S. Federal Reserve Chairman Jerome Powell's vow to continue the monetary hawkishness the Fed adopted earlier this year.
That news disappointed some investors hoping for signs of Fed confidence that its steps the last few months were taming inflation and that it might back away from its recent diet of 75 basis point interest rate hikes.
"The macroeconomic uncertainties continued to weigh on the price of BTC, and while the [Personal Consumption Expenditures] data came in negative (giving market hopes that the Fed could take a less aggressive stance moving forward), [the] Fed chair's talk on Friday dashed those hopes as he cautioned against premature policy loosening," Joe DiPasquale of crypto asset manager BitBull Capital wrote to CoinDesk. "The market has reacted negatively to those comments and we're seeing bitcoin testing the $20,000 support."
Most other major cryptos were recently in the red, with AVAX and ATOM down more than 9% and 6%, respectively. XMR rose about a percentage point.
On Friday, bitcoin fell precipitously from the $21,000 perch it held throughout the working week as Powell noted that inflation remains a serious threat. He said that "reducing inflation is likely to require a sustained period of below-trend growth" that would create "softer labor markets," among other impacts.
The ongoing strength of the job market has suggested repeatedly that the economy has not fallen into recession. The 3.5% unemployment rate is the lowest level since February 2020. "While higher interest rates, slower growth and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses," Powell said.
“We are moving our policy stance purposefully to a level that will be sufficiently restrictive to return inflation to 2%,” Powell said.
Equities and crypto news
Cryptos in the late week fall tracked equity markets, which closed substantially lower on Friday, with the tech-focused Nasdaq and S&P 500 plunging nearly 4% and 3.3%, respectively.
In recent crypto industry news :
Japanis preparingto review existing corporate crypto tax rates in an effort to entice startups to remain in the country, local news outlet Yomiurireported. Japan's financial services agency (FSA) and the ministry of economy, trade and industry are considering a tax reform proposal for 2023 that could exempt crypto startups that issue their own tokens from paying taxes on unrealized gains.
Over the weekend, CoinDeskreportedthat Grayscale Investments LLC has been fielding questions from the U.S. Securities and Exchange Commission (SEC) over the firm’s “securities law analysis” of tokens in some of its less-popular crypto trusts. The inquiry, which Grayscale disclosed in little-noticed filings made in June and mid-August, casts a shadow over the trusts’ viability at a time when the world’s largest digital asset manager is already dealing with a precipitous decline in its assets’ value due to the ongoing crypto winter.
Grayscale Investments is a digital asset management firm owned by Digital Currency Group, which also owns CoinDesk.
BitBull's DiPasquale wrote that "Monday's opening for equities will be key, as any more downside there could push BTC toward the recent lows."
"We will be watching for the market's reactions to new lows and aiming to accumulate BTC between $20,000 and $15,000," he wrote.
There are no gainers in CoinDesk 20 today.
[{"Asset": "Avalanche", "Ticker": "AVAX", "Returns": "\u22129.5%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Cosmos", "Ticker": "ATOM", "Returns": "\u22128.6%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Polygon", "Ticker": "MATIC", "Returns": "\u22125.3%", "DACS Sector": "Smart Contract Platform"}]
Here's How Fed Observers Viewed Powell's Jackson Hole Speech
By James Rubin
Speeches by U.S. central bank chairs receive more scrutiny than any others by public officials except for U.S. Presidential addresses. They also draw some of the strongest reactions by analysts, investors and others who make a living observing monetary policy and the economy.
Even by these standards, Jerome Powell's remarks at the Fed's Economic Symposium on Friday drew particular attention, coming amid a flood of often confounding economic indicators, including July's decline in the Consumer Price Index (CPI) suggesting that inflation, which reached a 40-year high the previous month, was waning. Would Powell be a hawk, or signal a softening in interest rate hikes?
He sharpened his claws.
In the strongest terms, Powell said that inflation remained a menace to economic well-being and that the Fed would continue raising rates. “We will keep at it until we are confident the job is done,” he said.
Here's how a few commentators from major research and financial services groups view Powell's comments and the likely future impact of ongoing monetary hawkishness:
• “They won’t want to be remembered as the central bank that missed inflation or even spurred inflation higher,” said Brian O’Reilly, head of market strategy at Mediolanum International Funds, told The Wall Street Journal.
• “The process won’t be painless, and I think he’s being more upfront about that,” said Neil Dutta, head of U.S. economics at Renaissance Macro Research,toldThe New York Times. “The likelihood of recession is rising, because that’s the solution to the inflation problem – that’s what they’re telling you.”
• Powell is not budging on having restrictive policy and that should mean the economy will steadily weaken going forward," Oanda Senior Market Analyst Edward Moya wrote in an email. Powell drove home the point that when they are done raising rates that we should expect them to stay there for a long period of time ... There was no dovish pivot, but it seems financial markets are getting close to fully pricing in the remaining Fed rate hikes."
• “In essence, Powell is clearly stating that right now, fighting inflation is more important than supporting growth,” said Jeffrey Roach, chief economist at LPL Financial,toldCNBC.
8 p.m. HKT/SGT(12 p.m. UTC):CleanSpark third quarter earnings
8:30 a.m. HKT/SGT(1:30 a.m. UTC):Australia retail earnings (July/MoM)
1 p.m. HKT/SGT(5 a.m. UTC):Japan leading economic index(June)
In case you missed it, here is the most recent episode of"All About Bitcoin"onCoinDesk TV:
Bitcoin Tumbles Below $21K as Fed Chair Powell Warns Inflation Battle May Be Painful
Federal Reserve Chairman Jerome Powell's hawkish speech had bitcoin (BTC) prices sinking, after the central bank leader warned that the war on inflation could be painful. "All About Bitcoin" took a closer look at what's happening in the markets.
Blockchain Startup Aims to Open the $1T Diamond Market to More Investors:Diamond Standard believes tokenizing diamonds will make investing in the precious stones easier and more efficient.
Grayscale, Disclosing SEC Queries, Says Cryptos XLM, ZEC, ZEN May be Securities:ZEC, ZEN and XLM “may currently be a security, based on the facts as they exist today,” Grayscale said in recent, little-noticed filings.
CoinSwitch CEO, in Wake of Searches by Indian Authorities, Says the Crypto Exchange Is 'Fully Cooperating':Singhal also sought to clarify that the "engagement with the ED" is not about money laundering.
Web3 Domain Name Service Could Lose Its Web Address Because Programmer Who Can Renew It Sits in Jail:Eth.linkexpired on July 26 and will be up for grabs on Sept. 5, according to GoDaddy.
The Merge May Negatively Impact DeFi Protocols, Stablecoins: Report:The transition to proof-of-stake could decrease stablecoin values and shrink lending pools, according to DappRadar.
In Defense of Crypto Speculation:Crypto needs speculation. The higher it is, the greater the potential for disruption. (CoinDesk Chief Content Officer Michael Casey)
Other voices:The Crypto Geniuses Who Vaporized a Trillion Dollars(New York Magazine)
"When the meme stock mania first surfaced, many finance observers wondered whether it would outlast the coronavirus pandemic, which also juiced crypto trading among bored people stuck at home for months on end. That’s still a somewhat open question, but if more companies see upside in actively courting retail day traders we could see “meme interest” remain a significant metric in formal equity markets." (CoinDesk columnist David Z. Morris) || Market Wrap: Crypto Markets Flatten as Latest Employment Data Throws a Setback for Inflation Hawks: Bitcoin and ether prices flattened in Wednesday trading as investors weighed the latest jobs data suggesting the economy isn’t finished growing.
Bitcoin’s (BTC)price slumped a fraction of a percentage point on Wednesday but climbed back above the $20,000 level after slumping below earlier in the day. BTC had declined overnight and accelerated for several hours, with the sharpest decline occurring during the 13:00 UTC hour (9:00 a.m. ET), as U.S. traditional markets opened and ADP’s Employment report on job creation in the private sector arrived hotter than expected. BTC volume during the downturn exceeded its average volume during that time frame by 5 times.
Ether’s (ETH)price’s also declined, as the second-largest cryptocurrency by market capitalization fell 0.95%, erasing a portion of its gains from the prior two days. ETH’s biggest drop occurred during the 13:00 UTC (9:00 a.m. ET) timeframe. ETH prices are down 19% since theMerge, the Ethereum network’s conversion from a proof-of-work consensus mechanism to a proof-of-stake system on Sept. 15.
The CoinDesk Market Index (CMI), a broad-based market index that measures the performance of a basket of cryptocurrencies, recently declined by 0.32%.
U.S. Equities:Traditional stocks declined following strong labor data, as the Dow Jones Industrial Average (DJIA), tech-heavy Nasdaq composite and S&P 500 fell 0.14%, 0.25% and 0.20%, respectively.
Commodities:
OPEC (the Organization of Petroleum Exporting Countries) announced a 2 million barrel per day cut in oil production.
In the U.S., crude oil inventories dropped by 1.36 million barrels versus expectations for a 2.1 million barrel increase for the week ending Sept 30. Gasoline inventories fell by 4.7 million barrels, significantly more than the expected 1.3 million barrel decrease, and the largest decline in eight weeks.
Both developments will likely send energy prices higher, a challenging scenario given the U.S. central bank’s current priority to tame inflation.
Energy markets rose following the OPEC announcement and U.S. inventory data, as WTI and Brent European crude increased 1.8% and 2%, respectively. Natural gas prices increased 1.8%.
Metals: Gold prices declined 0.3%, while copper futures rose 1.6%
ADP Employment, which measures job creation among private U.S. businesses, grew by 208,000 in September, versus consensus estimates of 200,000, and a 12% increase over the 185,000 jobs created in August.
According to the report, annual pay increased 7.8% for workers who stayed at their jobs, while wages for job changers increased 15.7%.
The news, which showed a still-hot jobs market, indicated that the economy is not slowing as much as inflation hawks had hoped to see.
●Bitcoin (BTC): $20,041−1.6%
●Ether (ETH): $1,348−1.2%
●CoinDesk Market Index (CMI): 980.86−0.7%
●S&P 500 daily close: 3,783.28−0.2%
●Gold: $1,725 per troy ounce+0.2%
●Ten-year Treasury yield daily close: 3.76%+0.1
Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found atcoindesk.com/indices.
BTC continues to trade in a consolidated range
BTC prices spent much of Wednesday toggling above and below $20,000, as the largest cryptocurrency by market cap continues to trade in a tight range.
The Average True Range (ATR) for BTC has decreased 64% in 2022. ATR measures an asset’s daily range of movement. The contraction of ATR for bitcoin signals prices have gotten less volatile.
In lieu of a tangible catalyst, BTC continues to fluctuate as the narrative around economic growth changes.Tuesday’s Market Wraphighlighted increased optimism for a Federal Reserve pivot to lower interest rates, which seemingly pushed risk assets (both traditional and digital) higher.
Today’s better-than-expected ADP jobs data is having the opposite effect, giving the Fed additional cover to follow through on its intentions to push interest rates aggressively higher. The CME FedWatch tool continues to project another hefty 0.75-percentage-point (75-basis-point) rate hike in November.
For BTC investors looking for bullish signs, on-chain analytics offer potential clues for bitcoin price expansion when volatility begins to increase.
The net position change for stablecoins (denoted in green in the chart below) on cryptocurrency exchanges has begun to increase again, and has been net positive in each of the most recent 24 days.
Often an increase in the balance of stablecoins implies additional buying pressure for an asset, whereas the increased supply of cryptocurrencies (i.e. BTC and ETH), implies increased selling pressure.
For BTC investors leaning bearishly, the current bitcoin price appears to be near its production cost.
Glassnode’s Difficulty Regression Model estimates the “cost of production” for BTC miners, and currently it puts that at approximately $18,081, or 11% below bitcoin’s current price. A reduction in BTC’s price below this figure is likely to add stress to bitcoin miners, which could have a downward impact on prices as well.
Viewing that in conjunction with technical data, however, implies that while nearing the cost of production, buying support exists at levels above $18,000.
Volume Profile Visual Range (VPVR), a tool that illustrates trading volume by price level, indicates that historically BTC investors have been willing to add to long positions in a range between $19,000 and $20,000.
• Decentralized Exchange Token GMX Surges After Binance, FTX Listings:The token of thedecentralized exchangeGMX gained popularity for defying this year’s crypto rout, and it nearly hit its previous all-time high after Binance and FTX, two of the world’s most widely used crypto exchanges, announced plans to list the token.Read more here.
• Mythical Games Creates Mythos Foundation to Decentralize Web3 Gaming:The gaming technology company is also expanding its ecosystem with the Mythos DAO and the MYTH governance token, anERC-20 tokenwith a total supply of one billion.Read more here.
• Listen 🎧:Today’s "CoinDesk Markets Daily" podcast discusses the latest market movements and a look at a case in which the Securities and Exchange Commission (SEC) appears to regulate by enforcement.
• Interest Surges in Bitcoin Speculation, But It Might Be Bearish:Open interest in bitcoin perpetual swaps – a type of leveraged trading contract in cryptocurrency markets – has spiked to an all-time high.
• Do Kwon Denies Report That South Korean Prosecutors Froze $39.6M of His Crypto:“I don't know whose funds they've frozen, but good for them, hope they use it for good,” he tweeted.
• Investment Manager Hamilton Lane to Tokenize 3 Funds Through Securitize:The move will make private market investments available to more people.
• Second Crypto Group Objects to CFTC's Use of Chat Bot to Serve Legal Papers:Washington, D.C.-based lobbying group The DeFi Education Fund wants the Commodity Futures Trading Commission (CFTC) to identify and serve Ooki DAO's actual members, rather than just serve the DAO at large.
• What’s Going On With Ethereum’s MEV-Boost?:Flashbots' block relayers continue to dominate the Ethereum validator ecosystem. And with them, censorship continues to grow.
• Middle East/North Africa Was Fastest-Growing Crypto Market Over Past 12 Months, Chainalysis Reports:MENA-based users received $566 billion in cryptocurrency from July 2021 to June 2022.
• Italy Hasn't Vetted the 73 Crypto Firms It Approved This Year:Companies entered into a new registry for crypto firms say they’ve secured regulatory approval in Italy, but they haven’t been checked for compliance yet.
[{"Asset": "Numeraire", "Ticker": "NMR", "Returns": "+16.49%", "DACS Sector": "DeFi"}, {"Asset": "Injective", "Ticker": "INJ", "Returns": "+7.4%", "DACS Sector": "DeFi"}, {"Asset": "Ethereum Name Service", "Ticker": "ENS", "Returns": "+6.54%", "DACS Sector": "Digitization"}]
[{"Asset": "SHIBA INU", "Ticker": "SHIB", "Returns": "-9.09%", "DACS Sector": "Currency"}, {"Asset": "Render Token", "Ticker": "RNDR", "Returns": "-4.93%", "DACS Sector": "Computing"}, {"Asset": "Polymath", "Ticker": "POLY", "Returns": "-4.53%", "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. || Bitcoin Mining Reserves Are at a 12-Year Low—Here’s Why: The amount ofBitcoinheld in reserve by mining companies has fallen to lows not seen since February 2010, according toblockchainanalytics firm IntoTheBlock. And that’s been true for most of this year.
As of Wednesday afternoon, Bitcoinminershave 1.91 million BTC in their wallets, according to IntoTheBlock. Bitcoin miner reserves have been above the 2 million BTC mark—first surpassed on February 19, 2010—for only 46 days since the start of 2022. This illustrates the impact of miners selling theirBitcointhroughout the year, at timesselling more in a month than they mined, to compensate for profits that have dwindled as the market has suffered.
IntoTheBlock uses a machine learning algorithm to identify minerwalletaddresses and tracks their holdings, including wallets linked to miners or mining pools that accumulate BTC but don’t actively mine it. The aggregate of the BTC held in those wallets makes up the analytics firm’s miner reserve metric.
For reserves to have stayed below the 2 million BTC mark as often as they have this year underscores how dire things have been for the industry. Bitcoin miner reserves initially took a dive below 2 million in July last year on news of themining crackdown in China, but that figure later bounced back.
The pain this year has been more drawn out.
Companies that borrowed millions against their mining equipment, likeCleanSparkandArgo, have seen month after month of losses.
Last month alone,Compute North filed for bankruptcy, Iris Energysold $100 million in equityto generate some cash, Compass Miningshut down its Georgia operationsand one of the largest Bitcoin mining pools, Poolin,froze withdrawals.
The last time that miner reserves were this low was a very different time for Bitcoin. In 2010, the cryptocurrency had only been released as open-source software a year prior, a few months after creator Satoshi Nakamoto published awhite paperdescribing how the peer-to-peer electronic cash worked.
Bitcoin was first exchanged for U.S. dollars in 2009 on the New Liberty Standard Exchange, when $5.21 could buy 5,050 BTC. At today's prices, that amount of BTC would be worth almost $97 million.
The Bitcoin mining industry was in its infancy, too. Computer programmer Hal Finney received the world’s first Bitcoin mining reward of 10 BTC for mining block-70 on January 12, 2009. And for a while, miner reserves represented a sizable share of the Bitcoin that was in circulation.
On the day when miner reserves first surpassed 2 million in February 2010, for example, miners held one in every five Bitcoin that had ever been created. Bitcoin miners' share of coins in circulation has now dipped below 10%. || Wall Street keeps selling as world assets fail to recover: By Lawrence Delevingne (Reuters) -U.S. stocks gave up early gains to fall deeper into a bear market on Tuesday, while sterling showed scant movement a day after hitting a record low, as investors remained nervous about a potential global recession. The pound was little changed at $1.071 after sterling collapsed to $1.0327 on Monday on concern over the funding of recently announced UK tax cuts, which follow huge energy subsidies. The Bank of England said late on Monday it would not hesitate to change interest rates and was monitoring markets "very closely." BoE Chief Economist Huw Pill added on Tuesday that central bank was likely to deliver a "significant policy response" to last week's announcement but it should wait until its next meeting in November before making its move. The yield on five-year gilts rose about 0.1% to about 4.6%, holding its spike on Monday from just over 4%. U.S. stocks mostly faltered after a morning bounce, with the S&P 500 hitting a two-year intraday low. The Dow Jones Industrial Average fell 0.42%, the S&P 500 lost 0.20%, and the Nasdaq Composite added just 0.25% The S&P benchmark index fell more than 20% from its early January high to a low on June 16, confirming a bear market. The index then rallied into mid-August before petering out. "We don't see a quick retrenchment or a return to 2% inflation, keeping the Fed in hiking mode. This implies more volatility and a need for caution and balance in equity allocations," Tony DeSpirito, BlackRock's chief investment officer for U.S. Fundamental Equities, wrote in a note released on Tuesday. Markets see a 65% probability of a further 75 basis points move at the next U.S. Federal Reserve meeting in November. The Fed needs to raise interest rates by at least another percentage point this year, Chicago Fed President Charles Evans said on Tuesday, a more aggressive stance than he has previously embraced that underscores the central bank's resolve to quash excessive inflation. "Central bankers have been walking a tightrope trying to curb inflation while attempting to limit recessionary risks," Bank of America strategists wrote in a note released Tuesday. "However, their recent tone and 'jumbo' rate hikes have reinforced that the foremost priority is controlling inflation, even at the potential cost of a recession." GLOBAL CONTAGION Spillover from Britain kept other assets on edge. The MSCI world equity index reversed early gains on Tuesday, falling about 0.3% to a near two-year low early Tuesday afternoon. European stocks slipped 0.13%. Story continues MSCI's broadest index of Asia shares outside Japan hit a fresh two-year low and was flat on the day. Japan's Nikkei gained about 0.5%. Bond selling in Japan pushed yields up to the Bank of Japan's ceiling and prompted more unscheduled buying from the central bank, while euro zone government bond yields rose to new multi-year highs on Tuesday. Benchmark U.S. 10-year Treasury yields also rose to their highest in more than 12 years as investors braced for higher interest rates. The dollar held gains on Tuesday in its relentless rally while sterling, the euro and Japanese yen regained little ground from multi-year lows after unusually volatile trading in recent sessions. There was some good news. New orders for U.S.-manufactured capital goods increased more than expected in August, suggesting that businesses remained keen to invest in equipment, and a survey showed consumer confidence rising for a second straight month in September. Oil rallied after plunging to nine-month lows in the previous session, helped by supply curbs in the U.S. Gulf of Mexico ahead of Hurricane Ian and by a slightly softer dollar. Brent crude settled 2.6% higher at $86.27 a barrel, and U.S. crude ended at $78.50, up 2.3%. Dutch and British gas prices spiked on news that the Nord Stream gas pipeline from Russia to Europe had suffered damage, raising concerns over the security of the bloc's energy infrastructure and triggering a sabotage probe. Gold, which hit a 2-1/2-year low on Monday, rose around 0.3% to $1,626 an ounce. Bitcoin briefly broke above $20,000 for the first time in about a week, as cryptocurrencies bounced. (Reporting by Lawrence Delevingne in Boston and Carolyn Cohn in London; Additional reporting by Xie Yu in Hong Kong; editing by Jonathan Oatis, Richard Chang and Marguerita Choy) View comments || 7 Cheap Small-Cap Stocks to Buy Before the Next Breakout: Although larger companies provide greater stability for investors due to their established businesses, cheap small-cap stocks to buy offer tremendous upside potential. To be fair, this potential comes at a cost in terms of higher risk. However, many investors set aside a small portion of their portfolio for speculation. These discounted market ideas may provide a possible spark.
Generally speaking, cheap small-cap stocks to buy tend to be underweight because of their aspirational profile. In other words, the predictability of their business trajectory features many ambiguities, thus leading to volatility risks. At the same time, greater ambiguities tend to offer greater upside should circumstances align favorably.
For the purposes of this discussion, I’m indebted to Gurufocus, an investment resource that provides financial breakdowns of public companies. Here, the focus centers on cheap small-cap stocks to buy based on fundamental discounts. So, without further ado, let’s take a look at the flyweights of the equities sector.
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Source: Larry George II / Shutterstock.com
Synonymous with the action camera industry,GoPro(NASDAQ:GPRO) helps content creators capture some of the most distinct perspectives. From thrill-seeking excursions to even military combat footage, GoPro both entertains and enlightens the world. Presently, the company features a market capitalization of $844 million.
According to Gurufocus, GPRO rates as“modestly undervalued”based on both the investment resource’s propriety calculations and traditional metrics. For example, GPRO features a forward price-to-earnings (P/E) ratio of under 5 times. In contrast, the underlying industry median stands at nearly 13 times.
Moreover, GoPro is a surprisingly high-quality business. Its return on equity stands at nearly 72%. This rates better than over 99% of companies tied to the hardware industry. In addition, the company features a net margin of 31.7%, ranking above 97% of its peers.
Finally, GoPro enjoys a solid balance sheet, with a cash-to-debt ratio of 1.7 times. In comparison, the industry median is 1.25 times. Therefore, GPRO represents an underappreciated gem among cheap small-cap stocks to buy.
Source: Shutterstock
Headquartered in Sunnyvale, California,Alpha and Omega Semiconductor(NASDAQ:AOSL) focuses on advanced innovations in the power semiconductor industry. Per its website, the company’s product portfolio targetsseveral industries, including “flat panel TVs, LED lighting, smart phones, battery packs, consumer and industrial motor controls and power supplies for TVs, computers, servers and telecommunications equipment.”
Currently, AOSL features a market cap of a little over $843 million. Priced at a few cents higher than $30 at time of writing, AOSL suffered from the tech sector rout. On a year-to-date (YTD) basis, AOSL shed almost 51% of equity value. Nevertheless, those interested in speculating on cheap small-cap stocks to buy should put AOSL on their radar.
Per Gurufocus, AOSL is“modestly undervalued”and its current P/E ratio sits at a low 1.9 times. In contrast, the median P/E for the underlying industry is nearly 15 times. Of course, a low P/E doesn’t mean much in and of itself.
Fundamentally, investors should consider AOSL for its robust balance sheet, highlighted by a debt-to-EBITDA ratio that ranks better than more than 84% of its peers. As well, the company enjoys excellent growth trajectories and solid overall profitability metrics.
Source: Mentor57 / Shutterstock
A specialty tech firm,Photronics(NASDAQ:PLAB) focuses on photomask products and services. Per its website, it’s the worldwide leader in the space, with applications in mainstream nodes, integrated circuits and flat panel displays. Currently, the company features a market cap of $958 million. Since the start of this year, PLAB dropped 21% of market value, representing a relative discount on the charts.
According to Gurufocus, Photronics features a“modestly undervalued”business. Prospective investors of cheap small-cap stocks to buy should note its resilient balance sheet. Most notably, the company commands a cash-to-debt ratio of 6.64 times. This stat ranks higher than 66% of the semiconductor industry.
On top of that, Photronics enjoys strong growth trajectories. For example, its three-year revenue growth rate stands at 14.4%, better than almost 66% of its peers. On the profitability side, PLAB’s operating margin stands at 23%. In contrast, the industry median is only 11.3%. Since not many folks appear to appreciate PLAB, you should seriously consider adding it to your list of cheap small-cap stocks to buy.
Source: Michael Vi / Shutterstock
Based in San Jose, California,Netgear(NASDAQ:NTGR) is an American computer networking firm. Per its corporate profile, it produces networking hardware for consumers, businesses and service providers. The company operates in three business segments: retail, commercial, and as a service provider.
Presently, Netgear carries a market cap of nearly $596 million. Since the start of the year, NTGR dropped almost 31% of equity value. Intriguingly, though, since hitting an apparent bottom on June 13 of this year, NTGR gained more than 16%. Therefore, it’s one of the cheap small-cap stocks to buy that’s presently on the move.
Per Gurufocus, the investment resource rates Netgear as“modestly undervalued”based largely on its proprietary calculations. Against traditional metrics, it’s notable that NTGR’s price-to-sales (P/S) ratio pings at 0.63, favorably below the industry median of 1.17.
Prominently, though, Netgear enjoys a stout three-year free cash flow growth rate of nearly 49%. This ranks higher than nearly 85% of the hardware industry. As well, the company enjoys a solid balance sheet, highlighted by a cash-to-debt ratio of 5.74 times.
Source: Shutterstock
Headquartered in Rockville, Maryland,Ceva(NASDAQ:CEVA) plies its trade in the semiconductor industry. Specifically, per its website, the company licenses signal processing platforms, AI processors, sensor fusion software and modules. It also offers chip design services to chip manufacturers and original equipment manufacturers, or OEMs.
Presently, Ceva commands a market cap of nearly $605 million. Shares trade hands for about $26 a pop. Since the beginning of this year, CEVA gave up 43% of equity value, drawing some speculators’ attention. However, it’s in the financials where the underlying firm makes its best case for cheap small-cap stocks to buy.
According to Gurufocus, CEVA rates as“significantly undervalued”and prominently enjoys a stout balance sheet. For example, its cash-to-debt ratio stands at a meteoric 20 times, higher than nearly 76% of its peers. Conversely, its debt-to-equity ratio sits at a low 0.03 times, favorably below 85% of the industry.
As well, the company features decent strengths in key growth and profitability stats. Therefore, it may be a hidden gem among cheap small-cap stocks to buy.
Source: Shutterstock
An analytics firm,Red Violet(NASDAQ:RDVT) transforms data into intelligence, in a fast and efficient manner, so that its clients can spend their time on what matters most, according to its website. While enterprises have cut back on their expenditures this year due to several macroeconomic headwinds, Red Violet offers relevance because big data represents a viable pathway to competitive success.
Of course, Wall Street doesn’t quite see it that way at the moment. Since the beginning of this year, RDVT hemorrhaged nearly 58% of equity value. Presently, the underlying firm features a market cap of $228 million. While it’s one of the smaller of the cheap small-cap stocks to buy, it brings plenty to the table.
According to Gurufocus, RDVT rates as“significantly undervalued,”and it’s important for prospective investors not to overlook its balance sheet stability. For instance, Red Violet features a whopping cash-to-debt ratio of 20 times, higher than nearly 71% of its peers. Also, the company enjoys a three-year revenue growth rate of 27.4%, better than 84% of the industry.
Source: Shutterstock
Headquartered in Roanoke, Virginia,Luna Innovations(NASDAQ:LUNA) is an American developer and manufacturer of fiber-optics- and terahertz-based technology products for the aerospace, automotive, communications, defense, energy, infrastructure, security and silicon photonics industries, per its corporate profile. Therefore, it’s well worth a look among cheap small-cap stocks to buy for its broad footprint.
Currently, Luna features a market cap of $152 million, making it a rather small play. Since the start of the year, LUNA stock dropped 45% of equity value. While its losses on the charts invariably brings out the speculators, more conservative-leaning investors can also depend on quality fundamentals.
Per Gurufocus, LUNA rates as a“significantly undervalued”investment. Most prominently, the underlying firm features a three-year revenue growth rate of nearly 28%. This ranks better than 92% of its peers. On the bottom line, Luna enjoys a net margin of 9.8%, better than 76% of the industry.
Finally, the company features an overall quality profile, with a return on equity of nearly 11%.
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand thatInvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More:Penny Stocks — How to Profit Without Getting Scammed
On the 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.
A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.
• Buy This $5 Stock BEFORE This Apple Project Goes Live
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• It doesn’t matter if you have $500 or $5 million. Do this now.
The post7 Cheap Small-Cap Stocks to Buy Before the Next Breakoutappeared first onInvestorPlace. || Bitcoin Miner Iris Energy Signs Up To $100M Equity Deal With B. Riley: Bitcoin miner Iris Energy (IREN) signed a deal to sell up to $100 million in equity to investment bank B. Riley over the next two years, marking the bank's second big investment in the industry that is facing serious market headwinds.
Publicly-traded bitcoin miners have seen their stock prices tumble this year as the price of bitcoin has slumped by as much as 60% and energy costs soar. In July, B. Rileysigned a similar dealin nature and size with Core Scientific (CORZ), the largest bitcoin miner in the world by actual hashrate or computing power.
Iris has the right, but not the obligation to sell B. Riley the stock, according to the filings. The miner may sell B. Riley up to 25 million of IREN ordinary shares in the 24 months starting Friday, according to afilingwith the U.S. Securities and Exchanges Commission. If the miner sells all the shares to the bank, for about $100 million, B. Riley would have an up to 31% stake in the miner, the filing said.
As part of the deal, Iris may elect, in its sole discretion, to issue and sell up to 24.8 million shares to B. Riley Principal Capital II and about 198,174 ordinary shares as consideration for the bank’s commitment to the deal.
Iris intends to use any proceeds from the deal to fund company's growth, including hardware purchases, acquisition, development of data center facilities, as well as for working capital and general corporate purposes.
Shares of Iris fell nearly 10% on Friday's trading.
Read more:Crypto-Mining Data Center Compute North Files for Bankruptcy, CEO Steps Down
CORRECTION (Sept. 25, 2022 16:05 UTC):Clarifies Iris Energy rights and obligations under the agreement. || BBIG Stock Is Worth Second Look on CEO Switcheroo: If you like to follow real-life soap operas, then you’re invited to take a look at Vinco Ventures (NASDAQ: BBIG ). This company’s story involves a takeover attempt, sudden executive-level changes and extreme volatility with BBIG stock. If the situation calms down, however, then Vinco Ventures’ investors might enjoy a relief rally. New York-based Vinco Ventures is a tiny company with a market capitalization of around $229 million. Its most interesting product is a TikTok clone called Lomotif . Lomotif already has more than 31 million on-platform monthly active users (MAUs). There’s a lot of revenue-generation potential here, but investing profitably in Vinco Ventures has been difficult in 2022. So, let’s see if we can make sense of the drama and determine whether a resolution is afoot. InvestorPlace - Stock Market News, Stock Advice & Trading Tips What’s Happening With BBIG Stock? Probably due to a meme-stock revival earlier this year, BBIG stock did experience a few quick pops in 2022. Informed investors shouldn’t just sit around and expect the short-squeeze crowd to come back and bid the price up again, though. Instead, serious investors should see what’s actually going on with the company. As it turns out, Vinco Ventures has been at the center of some controversy. According to a press release from Vinco Ventures, the company released Theodore Farnsworth from the co-CEO position while also purging other insiders from the company. Moreover, Vinco Ventures claims to have thwarted a hostile takeover attempt by the Farnsworth Group . The C-suite shakeup left John Colucci as Vinco Ventures’ sole CEO. However, a court order from Aug. 19, 2022, established Vinco Ventures board member Lisa King and Ross Miller as the company’s co-CEOs. Finally (Hopefully) Some Stability at Vinco Ventures Successful businesses don’t typically involve this level of drama and turmoil at the executive level. However, there seems to be a resolution afoot, or at least the beginning of one. Story continues Not long ago, Vinco Ventures announced a settlement of the company’s ongoing litigation in Nevada . According to the settlement, Ross Miller will be Vinco’s only CEO, and he will run the company “under the oversight of the Board of Directors.” In addition, the Gabe Hunterton will be the president of Vinco Ventures, while Lisa King and Rod Vanderbilt will remain on the company’s board. Plus, two company insiders have resigned from their positions at Vinco Ventures. With all of that, Miller claimed that the litigation is now “behind us.” Thus, with the legal wrangling out of the way, it’s time for Vinco Ventures to “execute.” What You Can Do Now Will the revamped Vinco Ventures actually “execute,” though? This remains to be seen, but Miller’s optimism may turn out to be justified. At the very least, a relief rally may be in store for BBIG stock. What the shareholders will need to see now is, indeed, “execution”: a powerful push for Lomotif and better top- and bottom-line results in the coming quarters. If you can envision Miller and Vinco Ventures making this happen, then feel free to grab a few shares and hope for the best. On the date of publication, David Moadel 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 . David Moadel has provided compelling content – and crossed the occasional line – on behalf of Motley Fool, Crush the Street, Market Realist, TalkMarkets, TipRanks, Benzinga, and (of course) InvestorPlace.com. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets. More From InvestorPlace Buy This $5 Stock BEFORE This Apple Project Goes Live The Best $1 Investment You Can Make Today Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” It doesn’t matter if you have $500 or $5 million. Do this now. The post BBIG Stock Is Worth Second Look on CEO Switcheroo appeared first on InvestorPlace . || Past the Merge, crypto firms grapple with ether spinoffs: With Ethereum’s now finished Merge upgrade to proof of stake, crypto companies are grappling with what to do about assets’ new spinoffs.
Early Thursday morning, Ethereum, the second largest blockchain,completed its Merge and eliminated theprotocolsneed for crypto mining by 99.95%, which had accounted for 0.2% of worldwide electricity consumption.
For the niche industry of Ethereum GPU-mining, which earned much of the total$19 billion generated from mining the protocol last year, the long-awaited upgrade meant “all of these miners are out of a job,” Kevin Zhou co-founder of hedge fund Galois Capital, told Yahoo Finance.
“And they really didn’t want to go quietly into the night,” Zhou added.
The problem, according to data from Chainalysis, is that the remaining opportunities for proof of work GBU-mining account for just 2% of Ethereum’s size.
Led by veteran crypto player Chandler Guo, 24 hours after the Merge a group of Ethereum miners “forked” the protocol’s codebase.
Forking is unique to the speculative and open-source technology underlying the world of digital coins.
Blockchain forking is a kind of software coup where a group of people decides to split off from a protocol’s larger community. When that happens, the forking group makes a separate copy of the protocol, which in turn duplicates all its assets.
In Ethereum’s case, this created a new coin called “EthereumPOW." Since its creation, the so-called “forkcoin” (ETHW-USD) has faced heavy selling - 84%- in the last 5 days as of Saturday morning and currently trades below $5, about 38 cents on the dollar to ether’s price.
“Personally, I don’t really see why we need to get another Ethereum in the mix,” Jean-Marie Mognetti, CEO of digital asset manager CoinShares told Yahoo Finance.
As Mognetti pointed out, there’s already another proof-of-work version of the Ethereum known as Ethereum Classic (ETC-USD). The blockchain and its native token were birthed in 2016 following Ethereum’s major DAO hack.
According to Yahoo Finance data, Ethereum Classic fell by more than 14% in the last 5 days after rallying 29% since July 26. It holds more than $4.4 billion by market capitalization and trades 8% from where it sat at the beginning of January.
To complicate matters more, the new EthereumPOW coin isn't even the only forkcoin to come since Ethereum’s Merge concluded.
Hours after the first fork, Justin Sun, founder and CEO of the Tron Foundation, who originally supported Guo’s cohort, forked Ethereum again, creatingEthereum Fair(ETF), which is trading at 9 cents on the dollar to ETH and according to Mognetti “will probably be a nightmare.”
No matter what Mognetti and others inherently think about the new coins, CoinShares chief executive officer is among many crypto firms that still must decide whether to hold or sell the free cryptocurrencies they are receiving.
In at least a handful of past occasions, crypto investors have viewed the chance to get forked coins for holding some underlying crypto as a kind of “free payday,” Nico Cordeiro, CIO of quant crypto fund Strix Leviathan, explained to Yahoo Finance.
The notion was strong enough before the Merge to have contributed to the sagging price of ether, he noted.
“There was very, very heavy demand to get short Ethereum,” he suggested, adding this was one side of a trade allowing investors to grab possible new coins.
Because forkcoins come in proportion to an investor's holdings of the original cryptocurrency, it's difficult for fund managers to pass on the opportunity even when a new token has minimal promise, Cordeiro explained.
“[Ethereum] is basically a giant experiment with hundreds of billions of dollars so it's natural to want a stake in a kind of backup copy,” he added, pointing to the generalregulatory uncertainty of crypto assets.
But receiving fork coins isn't alwaysfree, Miles Brooks, director of tax strategy with crypto tax firm, CoinLedger, told Yahoo Finance.
“If the value of the token goes down severely subsequent to the PoW fork and after you have control over them, which could be likely. Investors may have a tax bill to pay but potentially not enough assets to pay it,” Brooks said.
As for what to do about these assets most ether holders will receive, CoinShares’ Mognetti told Yahoo Finance at least for his firm, it's too early to make a call. They can gauge the new protocol's "network health" by monitoring its crypto mining hashrate but ultimately, the final decision will come down to "a bit of gut feeling.”
“I can’t tell you where it will go, but should there be a benefit we want to make sure our customers get some of it,” he added.
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David Hollerith is a senior reporter at Yahoo Finance covering the cryptocurrency and stock markets.Follow him on Twitter at@DsHollers
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Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,LinkedIn, andYouTube || JeremyKnows: From Gig-Working During the Pandemic to Leading a Community and Launching an NFT Project: Most attention within the NFT ecosystem has been about finding the next project to flip for a profit, but whats often overlooked are the opportunities to forge new skills, career paths and most importantly, relationships. NFTs dont always have to change your life with a big flip. They can change your life if you take action based on your interests and skills because the space is still so new. And one of the people who has done that very well is Jeremy Hohn , also known as JeremyKnows. Jeremy has been consistently building a community for the last 16 months and has found himself on a completely different journey than he was even just a year ago. Were going to dive into what got him started in NFTs, what passion he discovered along the way, what hes accomplished so far, and his advice for people looking to follow a similar path. The VeeFriends Mint in May 2021 Pulls Jeremy Into NFTs After 10 years of working as a performance artist and hired gun with multiple theater collectives on both coasts, COVID-19 hit New York City and theater-making everywhere was suspended indefinitely. By the end of 2020, after the pandemic had limited his job prospects as a performing artist, Jeremy was exploring crypto by binging YouTube videos about the space and investing small amounts of money into Bitcoin and Ethereum. To support himself financially, Jeremy pivoted to the practical skills he learned as a theater artist including photography, construction, painting, and home repairs. He also took a server job at a restaurant in April 2021. The same week Jeremy started at the restaurant, his friend Tyler called to let him know that Gary Vaynerchuk was launching an NFT project that may be worth investigating. That project was revealed to be VeeFriends: a fresh intellectual property designed and drawn by Gary Vaynerchuk with ambition to reach global audiences. Jeremy saw GaryBee, Patient Panda, Rare Robot and quickly recognized the playground for storytelling and fables that Gary was starting. Story continues Image credit: JeremyKnows Jeremy with Gratitude Gorilla at Christie's with John Gardner The VeeFriends Sorcerer Scholarship Sparks WannaBeAVeeFriend As part of the VeeFriends launch, Gary Vaynerchuk offered an application-only token that would provide mentorship and guidance for a year to 5 deserving applicants. Aspiring Sorcerers were required to write an essay explaining who they are, what they are working on, and why they should win the Sorcerer Scholarship . Gary made it clear that this opportunity would be offered only once, so thousands of people, including Jeremy, leapt at the chance to apply. Jeremys immediate instinct was to start creating content to boost his story, model Garys values, and stand out from the other potential Sorcerers. With the help of his fellow collaborator Alex Makardish , he launched the Instagram account Wannabeaveefriend and started posting content about the VeeFriends NFT project every single day. Jeremy dabbled in content creation in the past, always eventually stopping what he started. However, this opportunity to help others in such a direct way by emerging as the first and most consistent and reliable news source about VeeFriends had him hooked. It started with live streams every night of the week and led to Jeremy ultimately building his day-to-day around providing valuable content to the VeeFriends community. And its working. His podcast, Jeremy Knows , is up to 207 episodes since last June with over 26,000 downloads. Twitter is now the most active hub for his content where he has 23,000 followers, and sees over 1 million monthly impressions to his tweets. As a testament to his commitment, Jeremy has tweeted 27,500+ times since May 5, 2021, which was the original launch date of VeeFriends. Image credit: JeremyKnows Jeremy Emerges as the Trusted Go-To Resource on VeeFriends News and Insights By continuously offering value to the highly enthusiastic and kind-hearted community that consumes his content, Jeremy cultivated a following of loyal fans. Many of whom refer to him as the Peoples Sorcerer after he was not selected for the Sorcerer Scholarship. Jeremy eventually expanded outside of content, which led to forming two DAOs ( Decentralized Autonomous Organizations ). First, the VeeFam DAO, which won the Gratitude Gorilla, a Gary Vee original artwork through the Christies auction house for $250,000. Next, the VeeDao which is a community of art collectors passionate about the long term vision of VeeFriends & other blue chip NFTs. That process of forming a DAO coming to consensus, pooling together funds, and going through the legal and governance process of fractional ownership was a major feat that taught Jeremy an enormous amount. Jeremy was also previously a moderator in the VeeFriends Discord because he was helping them solve a significant problem. Namely, curating the most important updates and in turn saving the community hours sifting through discord for the information. This wasnt his end goal, but rather the result of consistently listening to feedback, anticipating needs, and putting in the work. He also recently joined WGMI.io as a contributor after being continually referred to as the person to report on VeeFriends. Jeremy has been considered for positions at VeeFriends, and hopes to someday join their ranks. In the meantime, he continues to learn and feels excited to stay the course with JeremyKnows. VeeFriends and the Sorcerer Scholarship have sparked an entirely new direction for Jeremys life. "In these communities, it is early enough to stand out. If these communities are long-lasting, first mover advantage goes a long way. I get recognized now at events, people come and say hello to me." Jeremy Hohn Jeremy is constantly feeling support from his community, sometimes in the form of offering him access tokens for rare experiences. One of these community gifts was an hour of tennis with Gary Vaynerchuk through a 1/1 VeeFriends access tokens, the Tennis Elbow. While it was originally planned to be a tennis match experience, Gary was injured and instead invited Jeremy to the VaynerMedia offices to have a sit down in the office. During the time, Jeremy asked if Gary would join as a guest for 5 minutes on his podcast, which ended up lasting 30 minutes as they discussed the upcoming VeeFriends Series 2 mint, new characters, and VeeCon. A few months later, this same interview was shared on the GaryVee Audio Experience, which you can listen to here . Jeremys story makes it clear that NFTs have given people the chance to reinvent themselves and help ignite deep interests for those who may feel lost, unmotivated, or as though they havent found their thing. Until now, Jeremy has put in the work without expectation and taken risks by paying his bills through odd jobs and the sale of NFTs over the past year. Looking ahead, Jeremy is working to carve out a space in NFTs that can sustain what hes been offering the community these first 16 months while supporting him and his family. Launching the JeremyKnows NFT Project After the relentless pursuit of creating consistently valuable content for nearly a year-and-a-half, Jeremy has designed and launched his own service-based NFT project: JeremyKnows . Image credit: Jeremy Knows Original Sketch of JK The project is currently in open mint, for 0.1 ETH and offers the following benefits to holders: Exclusive text message notifications reporting VeeFriends and Web3 insights and updates, saving holders hours of time sifting through Discord, Twitter, Spaces and in-person events. A burn mechanism that offers 30-minutes of focused 1-on-1 time with Jeremy for various services like NFT research, community-building, project consultation, or whatever Jeremy can help with. His commitment is to solve your problem in 30 minutes or less, or find someone who can. His project aims to address a broader problem in the NFT space: keeping up with updates and benefits pertaining to the assets you hold. With the help of the community, he created a smart contract, launched a website, and his NFT project now has 170 holders. Creating a project and approaching his network of asking for compensation for his time and efforts has been a leap of faith, but he continues to focus on giving more than he takes, in true Jab, Jab, Jab, Right Hook fashion. Jeremy made big bets and credits his fiancée for supporting him through this entire process. He explained to me that finding your tribe and having loved ones around you is key while navigating uncharted waters. Theres no playbook for this, but Jeremy is now on his way toward the content monetization that will allow him to keep focusing full-time on VeeFriends content. Advice on How to Find Your Own Path in NFTs The transition from Web2 to Web3 is opening more doors to leave traditional career paths and more people are taking that risk to find out what it could look like. Sometimes, all it takes is getting started to learn what opportunities might come your way. The NFT space is new brands are acquiring NFTs (E.g., Yuga Labs acquired CryptoPunks and Meebits, Nike acquired RTKFT) and a lot of people dont have the type of experience Jeremy has created for himself by simply diving in head first. But its not too late to get started. Theres room in this industry for all different skill-sets: leaders, creators, artists, developers, community builders, operators, marketers, researchers, writers, and the list goes on. Many people have found their voice in the NFT space, and most are doing it out of interest and pure passion, which raises the question: can people make a living off of their unique skills in this new environment? The short answer is: yes. The longer answer, Jeremy explains, its a delicate balance of ambition and patience. You will need to blaze your own trail, but you don't think have to do it alone. If you can work directly with your community as you grow and inform them as your perspective and needs change -- you can't fail. Theres sensitivity in the NFT space for paid influence, and for good reason: but theres also not a lot of good infrastructure or systems in place yet because this is all so new. In the future, much like TikTok and micro-influencer matching programs, there will likely be companies that help creators like Jeremy monetize their work in an ethical and impactful way. There will be better networking platforms to match people of all skill types. For those who want to take the next step, Jeremys story is the ultimate advice: We dont know what NFT-related jobs will look like in 2 years, 5 years, 10 years and many people wont get started without the promise of knowing whats on the other side of it. The second Jeremy learned about the Sorcerer Scholarship was the second he got started and while he intended to dial down content after announcements of the winners, it turned out that he found something meaningful and didnt want to stop doing it before seeing where it could go. If you are interested in using your skills or finding new opportunities in web3, just get started . Whats Next for Jeremy? Jeremy plans to keep taking chances and learning through action. He explained to me that he will continue to create content, deepen relationships with his holders, and develop the utilities and experience of his NFT project. "We're witnessing history every day in the space. The people still here are the most engaged, the most giving, the most optimistic about this technology. Find those people, learn from them, offer what you can, and develop those relationships." - Jeremy Hohn. At this point, Jeremy has fostered a large network global network and he openly discusses his vision, what hes good at and what he wants to do for projects and teams. This is leading to more and more compensated opportunities to meaningfully apply his newfound skills. If you find Jeremys story inspiring and fear that youre too late or you still dont know where you can bring value, dont hesitate to try different things and follow your own instincts. Jeremy does podcasts , Twitch streams , IG live streams , Twitter spaces, VeeFriends trading card live breaks and more. His goal and focus remain on what will offer the most value: but hes never afraid to pivot, experiment, and engage in new ways to discover what works.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 19208.19, 19567.01, 19345.57, 20095.86, 20770.44, 20285.84, 20595.35, 20818.48, 20635.60, 20495.77
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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 2020-11-09]
BTC Price: 15332.32, BTC RSI: 71.67
Gold Price: 1853.20, Gold RSI: 40.93
Oil Price: 40.29, Oil RSI: 54.31
[Random Sample of News (last 60 days)]
First Mover: OKEx Private Key Snafu Sends Bitcoin Lower as China DeFi Rises: Bitcoin ( BTC ) fell 2% Friday, the most in three weeks, after the market was spooked by the announcement that the cryptocurrency exchange OKEx had suspended withdrawals because founder Mingxing “Star” Xu was reportedly taken into police custody. The executive is the holder of a private key needed to authorize withdrawals, and that became impossible since he was out of touch, the exchange wrote in a notice published early Friday morning. Officials with OKEx, which is based in Malta but led by Chinese executives, said the issue involved a personal matter, not the exchange and shouldn’t affect ongoing business. Traders said the price impact might be short-lived. “I don’t think this news colors BTC the wrong way as much as it does the venue,” Vishal Shah, a trader and founder of the Alpha 5 exchange, told CoinDesk. Market moves Related: Huobi Guarantees Normal Operations During OKEx’s Suspension of Crypto Withdrawals Decentralized finance, or DeFi, is one of the hottest trends in the crypto industry. So it’s not surprising the DeFi craze would find its way to China, which has an active cryptocurrency community despite government restrictions on trading and token sales. Chinese startups are playing a crucial role in the DeFi boom with highly localized and nimble adaptations of western projects as well as a marketing apparatus that is laser-focused on Chinese crypto communities, industry watchers say. From July through the middle of October, the number of searches for DeFi has soared on China’s social media platform WeChat. It has almost doubled during this period of time, according to WeChat Index, a data analysis tool that includes keyword searches, articles and forwards in WeChat moments. Major Defi projects such as NEST, DForce and YFII, all with huge Chinese followings, have raised millions of dollars in the span of a few weeks and topped the TVL ranking on DeFi Pulse. China often has a reputation for adapting western products to local markets, or in some cases mimicking them. Compound alleged China-based DForce “stole” its code and Chinese liquidity mining site YFII cloned another foreign-based project, Yearn.Finance (YFI). Story continues “Admittedly, many Chinese projects copy code from western DeFi pioneers such as the liquidity leader Yearn.Finance and decentralized exchange UniSwap,” Nervos co-founder Guoning Lü told CoinDesk. “However, Chinese companies are making innovations in localizing the original products and that is what makes DeFi products more popular in the country.” – David Pan Read More: How the DeFi Craze Made Its Way to China Bitcoin watch Bitcoin is down but not out and unlikely to see a price crash due to the announcement that the digital-asset exchange OKEx had suspended withdrawals . Related: This New Service Plays Matchmaker Between Solo Miners, Big Mining Farms The cryptocurrency is currently trading near $11,300, representing a 2% decline on the day. Prices fell from $11,519 to $11,231 in the 30 minutes to 04:30 UTC, roughly in line with the timing of the exchange’s announcement, according to CoinDesk’s Bitcoin Price Index . OKEx announced an indefinite suspension of withdrawals, saying one of its private key holders was cooperating with police in investigations and thus being out of touch. As per latest reports, that private key holder is the exchange’s founder, Mingxing Xu. As such, the market sentiment may remain weak for some time, although a price crash looks unlikely. “I don’t think BTC will necessarily dive from here,” Denis Vinokourov, head of research at London-based prime brokerage Bequant told CoinDesk. “The fund flow may look for venues that are based in countries with clearer regulatory stance and policy outlook.” Besides, the cryptocurrency has recently absorbed bigger shocks like BitMEX’s indictment by U.S. regulators, President Donald Trump’s health scare and the fiscal impasse in the U.S. With prices holding above the former resistance-turned-support of $11,200 (Sept. 18 high), the immediate bias remains bullish. The cryptocurrency could revisit Asian session highs above $11,500 as U.S. stock futures are point to a potential reversal of this week’s risk-off mood. – Omkar Godbole Token watch USD coin ( USDC ): Dollar-linked stablecoin gets added to Stellar blockchain . Filecoin ( FIL ): Decentralized data-storage and content network starts long-awaited distribution of tokens following $200M initial coin offering in 2017. As of Friday, prices had stabilized around $55, for a market capitalization around $840 million, according to CoinGecko. What’s hot Coinbase’s global marketing head latest to join mass exit ( CoinDesk ) Bittrex Global offers 3x leveraged digital tokens on bitcoin, ether and cardano. ( Bittrex Global ) Central-bank digital currencies could “accelerate the velocity of money” and have the “potential to become an inflation game changer,” bond firm DoubleLine says ( DoubleLine ) Block.one releases “EOSIO for Business” to target enterprise blockchain ( CoinDesk ) U.S. charges 6 with laundering Mexican drug cartel cash using crypto and casinos ( CoinDesk ) Analogs The latest on the economy and traditional finance IMF’s Georgieva says U.S., China need to keep up coronavirus stimulus to speed economy’s recovery ( Reuters ) Carmen Reinhart, World Bank chief economist and author of “This Time is Different,” said there’s growing risk of a financial crisis ( Bloomberg ) French carmaker Renault draws down part of 5B euro government-backed loan ( Reuters ) Lingering coronavirus concerns hit investor sentiment for Asian traders on Friday ( Reuters ) U.S. weekly jobless claims unexpectedly rise to 898K, versus expected 825K and pre-pandemic norm around 200K ( Bloomberg ): Tweet of the day Related Stories First Mover: OKEx Private Key Snafu Sends Bitcoin Lower as China DeFi Rises First Mover: OKEx Private Key Snafu Sends Bitcoin Lower as China DeFi Rises || Alteryx Surges Over 20% after Lifting Sales Outlook: Alteryx, Inc. ( AYX ) shares surged 23.46% in Monday’s extended-hours trading session after the data analytics software company raised its third-quarter (Q3) revenue forecast and announced a new chief executive officer (CEO). Management now expects sales to come in between $126- and $128 million, up from its previous forecast range of $111- to $115 million. FactSet analysts had tipped a consensus figure of $113.5 million. Meanwhile, the company has appointed Mark Anderson to succeed Dean Stoecker as CEO, effectively immediately. However, Stoecker will continue to serve as the firm’s chairman. “When I decided to transition from day-to-day operations, it was clear to me that Mark is the ideal candidate to serve as Alteryx’s next CEO given his passion for our company and our newly created Analytic Process Automation category, coupled with his experience in scaling organizations,” said Stoecker, per PR Newswire . As of Oct. 6, 2020, the stock has a market capitalization of $8.11 billion and is down nearly 35% over the past three months. Year to date (YTD), the shares have gained 13.8%. From a valuation standpoint, investors have factored in plenty of upside into the stock. Currently, it trades at 126 times forward earnings. Earnings Beat in Challenging Conditions The company swung to a profit of 2 cents per share in its latest quarter despite noting higher levels of scrutiny on spending across all sectors, resulting in longer sales cycles and smaller deals. The result came in substantially better than the 14 cent EPS loss analysts had anticipated and improved 100% from the year-ago quarter. Moreover, Alteryx added 271 net customers during the period, taking the firm’s total customer count to 6,714, up almost 30% year-over-year (YoY). Wall Street View Loop Capital analyst Yun Kim initiated coverage on the stock last month with a ‘Hold’ rating and a $110 price target. Kim argues that the company’s fundamentals remain strong and its business sits well positioned to benefit from a post Covid recovery. However, the analyst believes Alteryx’s exposure to large deals present sales execution risks in the current operating environment. Elsewhere on Wall Street, the sentiment is mostly bullish. The stock receives 10 ‘Buy’ ratings, 4 ‘Hold’ ratings, while just one analyst recommends selling the shares. Story continues Technical Outlook and Trading Tactics Alteryx shares have more or less remained rangebound for the past twelve months, fluctuating between $76 and $185. Despite the recent ominous death cross formation – when the 200-day simple moving average (SMA) crosses below the 50-day SMA – the stock looks like opening up today at $140.60 to partially fill the Aug. 7 earnings gap. Active traders should view an impulse rally to crucial overhead resistance around $185 as a mean reversion shorting opportunity. Those who take a short sale should consider buying to cover on a retrace back down to the 200 SMA around the $129 level. This article was originally posted on FX Empire More From FXEMPIRE: Q3 2020 Recap: Bitcoin Continues Rising Despite Global Uncertainty AUD/USD Forex Technical Analysis – Sellers Could Return Following Test of .7210 to .7258 The RBA, Stats, and Powell Put the Aussie Dollar, the EUR, and the U.S Dollar in Focus EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – October 6th, 2020 European Equities: Trump, Economic Data, COVID-19, and U.S Politics in Focus Exxon Mobil Expects Bigger Q3 Loss, But Recovery in Chemicals Industry Would Benefit; Target Price $43 || DeFi Is Taking Over Crypto: Sign Of Another Bull Run, Or A Flash In The Pan?: DeFi may offer real and predictable results, but only if you’re knowledgeable enough to avoid the traps. Overcoming Shady Reputation As with all things related to blockchain-powered technologies and products, they are followed by an intense burst of growth and enthusiasm. Bitcoin (BTC) spurred a massive generation of altcoins (over 2500), each struggling to repeat the success of the original crypto king. Eventually, most of them received the ignoble status as “sh*tcoins”, while Bitcoin remains the dominant force in the cryptocurrency space with a market cap of $226 billion. Likewise, the ICO craze (Initial Coin Offering), as an attempt to quickly fund crypto-related projects, took off enormously. In its peak year, 2017, hundreds of ICOs managed to raise $5.6 billion. However, in terms of return on investment (RoI), only half a dozen could be deemed as truly successful, such as IOTA, NXT, Stratis, Neo, and Spectrecoin. Altogether, ICOs became almost synonymous with sleazy dealings, as 80% of all ICOs turned out to be fraudulent in some way . You see, when it comes down to the realm of blockchain-derived products and services, the barrier to entry is fairly low due to the digital nature of it. Only a few components are required: Sufficient technical knowledge. Computer. Internet access. While access to computers and the internet is commonplace throughout developed nations, technical knowledge isn’t. Yet it’s growing — there are now nearly 3 million jobs in data , meaning an increased percentage of the population has sophisticated technical skills. This is the double-edged sword of the crypto-sector. While some actors are genuinely pushing themselves for ideological reasons of democratization and decentralization, it is much easier for many more actors to pile onto something to make a quick buck. However, this is not necessarily a bad thing. Although an average user might become weary of the whole crypto-space, these initial birthing pains are in some way necessary for new technologies to become robust. And believe it or not, this is happening to a certain degree. Story continues For example, automated payment software is already pushing to accept Bitcoin payments for goods and services . Generally speaking however, user experience in the digital asset realm is lacking — forcing many holders to be, well, holders . From this perspective, we should view DeFi, decentralized finance, with its yield farming and governance tokens. What Does DeFi Offer? Veterans of the crypto-space are rightfully viewing DeFi as the final realization of the original spirit that gave birth to Bitcoin. This is the spirit of financial freedom, in this case fortified by cryptography, so that no central authority, governmental or otherwise, could impede in a borderless flow of money. And once you have that financial freedom, freedom of thought and expression comes with it. DeFi is a natural attachment to cryptocurrency, as the first outgrowth of this philosophy. While cryptocurrency provides the means, DeFi attempts to reconstruct all the financial instruments you would find in a traditional bank, such as borrowing and lending, thanks to smart contracts. Bitcoin is seeing increased accessibility as it is now available through the majority of popular stock trading apps . Yet the key distinction with DeFi is that these financial instruments would operate within a decentralized space independent of governmental or corporate mediators. This means nothing less than a revolution in the democratization of financing, as you would only need access to the internet to benefit from loans on either side of the equation. Lex Sokolin, the chief marketing officer at ConsenSys, succinctly framed DeFi as such: “[DeFi is] literally a platform shift in how financial products are manufactured. Full stop. End of story.” It is no wonder then that the DeFi space experienced remarkable growth within a single year. Just over three months ago, DeFi reached a milestone of $1 billion locked assets. Today, that figure spilled over $6 billion worth of assets, largely locked in yield farming of interest rates. Even if we take the most conservative estimate of $3.5 billion, which accounts for the top DeFi protocols , this seems to be only the beginning of the expansion. Is DeFi’s Troubleshooting Severe? As you can see, DeFi follows the natural progression of things: Cryptocurrency as the necessary primary facilitator of financial decentralization. ICOs, although mostly scammy, also necessary as they explored what could be done in the blockchain space. DeFi, as the culmination of the previous stages, providing a viable platform for traditional financial instruments. It is important to take note of this, as to not simply dismiss DeFi as another bubble such as the ICO craze, which itself bore fruit. With that said, there is some bubbling to be watchful about. The best example of these hyper-valuations in the DeFi space comes in the form of governance tokens. Compound, as among the first DeFi loan platforms, issued its own token called COMP, in order to attract users to the platform. Within a week of its launch, COMP accrued 300% of its value, peaking at $372 in August. Inevitably, its price halved at around $183 at the time of this writing. Similar to how Bitcoin’s price affects all other altcoins, so did COMP have a large impact on the DeFi space. Some professionals in the field, like John Wagster, the head of Frost Brown Todd, have no compunction in portraying even that halved price as hyper-valued, instead proposing a price at $50. Moreover, Compound’s focus on USD loans has exerted pressure on competitive platforms, such as DAI. They rely on stablecoins, which enhances their difficulty of maintaining a tether to a real world asset. Gauging DeFi’s True Valuation The mark of a bubble is its over-valuation, and DeFi certainly has some over-valuation issues. However, how serious of a problem does this represent? After all, in the current DeFi stage, where only 1% of cryptocurrency users are active DeFi participants, one should make a distinction between birthing pains and crippling unsustainability. Fortunately, the price-to-earnings (P/E) ratio gives us an overall picture of the state of affairs in the DeFi space. As you would infer, the P/E ratio is the dollar count one has to put forward to gain one dollar from the company’s earnings. When we take a look at the top DeFi platforms/protocols, only some of them exceed valuations. Courtesy of Lucas Campbell In order to align themselves with reality, these three off-chart DeFi projects should either gather more users or economically reconfigure their tokens. Either way, the DeFi space shows an organic growth from genuine enthusiasm. People locked out of banks can now access loans, and people who have digital assets sitting around can now employ them to gain passive income via yield farming. DeFi’s Near Future So far, as the low user count shows us, DeFi is still in the incipient stage. Even so, it managed to gather billions of dollars in less than a year. Again, Lex Sokolin of ConsenSys puts it best as to why DeFi burst into the scene with such force: “And we’ve had this magical moment over the last six months where you have, essentially, these programmable vending machines of loans, of margin trading, of book building and market making; of insurance: all of these things being turned on and integrated, and starting to create some really bizarre and interesting outcomes.” When we zoom out, this was inevitable. Software-as-a-Service (SaaS) has been trending for a while, eventually supplanting old ways of doing things, including video games (GaaS). This tells us that ecosystems of the future are converging toward a space in which dynamic, adaptable services offer the optimal framework for catering to people’s needs. Moreover, the major force that contributed to DeFi’s growth will remain – low-interest rates from the world’s central banks. Escape from this reality, in the form of rewards that are more real and predictable than stock fluctuations, is anticipated to bring in more users and contribute to the maturation of the DeFi space. See more from Benzinga Bottom Basement Rates Through 2023, Fed Promises, But Will It Be Able To Keep? Cantor Raises OrganiGram Target On Hyfire Data How Mexico's Legal Cannabis Market Impacts Domestic And International Markets © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Did Ethereum Learn Anything From the $55M DAO Attack?: Up until it collapsed, The DAO represented the highest technological achievement – and the coming wave of innovation – that the Ethereum blockchain has enabled.
The smart contract and blockchain were interlinked ideas. In Vitalik Buterin’s early writings detailing the network of computers that would become Ethereum, the world’s second largest by blockchain by market cap but largest by developer activity, he put forward the idea of fully decentralized, autonomous corporations or organizations (or, DACs and DAOs).
The DAO, which got that name for being the first encoded version of the concept, was the proving ground that the disruptive world of venture capitalism could itself be disrupted. Approximately $150 million in ether was contributed to the project, and more than 50 projects were teed up to possibly be funded by a smart contract that no one person owned.
Related:'We Blew It.' Douglas Rushkoff's Take on the Future of the Web
See also:The $55M Hack That Almost Brought Ethereum Down
Then it was attacked. On a Friday morning in June 2016, a still-anonymous hacker (or hackers) exploited a vulnerability in the code and confiscated tens of millions of dollars in cryptocurrency. Copycats soon followed. Investors withdrew their funds, a “dark DAO” was spun up to protect the remaining and a serious debate raged over when it might be appropriate to hard fork or roll back events on a blockchain.
Four years after The DAO hack, Matthew Leising, a veteran Bloomberg News reporter, is unsure of what it all meant. The obvious lessons around market exuberance and security went mostly unheeded, as evidenced by the ICO bubble that popped years ago and rise of DeFi today.
“It goes back to the vision Vitalik laid out for a decentralized platform where people could do whatever they want,” Leising said. “When you give people that flexibility and creative license, you’re going to get crazy projects.”
Related:Bitcoin and Ether in Biggest Slump Since Sept. 3 as Stock Markets Sink
In his latest book, “Out of the Ether: The Amazing Story of Ethereum and the $55 Million Heist That Almost Destroyed It All,” Leising traces the events leading up to and following the pivotal moment (excerpthere). CoinDesk caught up with him to discuss The DAO’s legacy and what Leising thinks will come next in blockchain.
What do you think the most lasting legacy of the DAO hack has been?
I think it had a short living effect. At the time, I think people realized that the smart contract should have been capped, that it shouldn’t have been allowed to grow to $150 million in ether, especially for being so new. Ethereum was only a year old at that time. There should have been some emergency stop button or safety hatch, to some way take control if anything went wrong.
I love the idea of decentralized governance, but when you’re writing in a language like Solidity, which was also less than a year old, you have to have a failsafe. Especially considering the amount of bugs that were already found in The DAO before the hack.
When you’re dealing with other people’s money – you have to be careful. I wish I could say these lessons were learned, I don’t think they have. I think we’re seeing the same mistakes made in DeFi now. The money sloshing around is just insane. It’s even worse in some respects, with people announcing they haven’t audited the code.
See also:DeFi Lender bZx Loses $8M in Third Attack This Year
At least with The DAO they did security audits, but there were still problems. When you compile in a language like Solidity, you’re going to have problems. There needs to be much more vetting when these projects come out so real people don’t lose money.
This seems like it gets to the fundamental enthusiasm in crypto. People are attracted to risk and volatility.
You definitely can’t cap enthusiasm, and I don’t think you’d want to. It goes back to the vision Vitalik laid out for a decentralized platform where people could do whatever they want. When you give people that flexibility and creative license, you’re going to get crazy projects. The only thing you can do about it is to not participate.
I think interesting things are being done to address this issue. Fabian Vogelsteller is exploring “reversible ICOs.” He’s the guy that wrote the ERC-20 code that allowed for ICOs, and is now trying to address that. He’s created a fundraising mechanism that allows people to pull their money out whenever they want. So it’s not like you dump ETH in a pool and the dev team can go out and buy lambos.
I’d trust someone like Fabian over some anonymous guy like Sushi Chef. These are questions you have to ask. Who are the people behind the project? Are they known quantities? Have they been in Ethereum for a while or are they coming out of the woodwork?
You decide not to determinitively call out the DAO hacker in the book and write throughout that multiple sources you’ve met with have their suspicions but are also reticent. Do you think crypto respects pseudonymity to a fault?
I want to make clear that there were several different DAO attacks, which is a point that not many people realize. The $55 million Friday attack is probably what people think of when they’re talking about the DAO attack.
Then there was an attack on the following Tuesday. That’s where I was able to get some leads, do some reporting and track down somebody I think was involved. I believe it was a copycat. The code for the attack contract was already circulated.
They were sloppy enough for me to trace them. That to me says they weren’t very careful, whereas the Friday attacker covered their tracks really well. You should see the ways he scrambled the ether and bitcoin. They knew what they were doing and were very careful.
I’m moving the ball forward here a little bit, but I wasn’t able to get very far with identifying anyone involved in the $55 million theft.
If anything, the frequency and scope of attacks has only picked up – but they’ve seemingly become less and less important. Do you think the industry has accepted that attacks are just one of the risks we have to live with?
If you’re talking about people losing significant amounts of their money, I think people are just as concerned today as in 2016. I can’t speak for the industry, but given the frequency at which these things happen, it does seem like there’s a part of the industry that downplays security.
Everyone who is trading crypto at this point should know not to leave your coins on an exchange – that’s the dumbest thing you can do.
Despite all the politics and backstabbing, the idea was so good and valid that Ethereum survived.
I’m not sure if people just coming into the space know that. Coinbase and Gemini are like a hackers dream. You need to have your funds in a wallet on a blockchain. There are just basic things that people should be doing. But is there enough education about that? Is there anyone telling them to take these steps? Coinbase certainly isn’t telling people, “Now that you’ve bought your BTC, move it off our exchange and put it in your wallet.” That’s not in their interest.
People make fun of the SEC and CFTC on the regulatory front in the U.S., but they are great about educating potential investors about how to keep their money safe when they’re buying and selling in markets.
What were you most surprised to learn about Vitalik while researching the book?
Vitalik really clicked for me after his dad shared some of this document he wrote when he was seven called the encyclopedia of bunnies. It was this 20-page Word document that he wrote because he was absolutely obsessed with bunnies. It’s really impressive.
For some people, you find a certain detail about their life that sort of unlocks them, or encapsulates them. I felt like that was the bunny book for him. We all know he’s brilliant, but he’s also really funny and meticulous. He poured all this energy into this thing as a seven year old. Once I had that, it helped me see him as a person.
I also didn’t know that behind the scenes of the Ethereum Foundation was such a shi*tshow. There were people fired after six months, a reorganization, and then more people fired. They tried to straighten out by bringing in a board of directors and executive director – but they were at each other’s throats from the beginning.
I love the story of all the people that came together to create Ethereum, and the mismanagement of it since the beginning. It never really got better. Despite all the politics and backstabbing, the idea was so good and valid that it survived all of that.
Do you think they’re going to be able to successfully manage shifting to Eth 2.0?
I think so. It’s been a long time coming. I interviewed Vitalik at a Devcon3 in 2017, where he said proof-of-stake would be here by the end of the year. Another thing I learned about Ethereum is that it has never delivered on time. They thought they would be able to do their crowdsale the Tuesday after the Miami Bitcoin Conference. It was six months late. They’ve always had a problem with timelines.
That being said, I’ve started to see signs that Eth 2.0 is coming closer to fruition. I don’t have any reason to suggest that they won’t be able to deliver.
See also:The ‘Hot Swap’ Plan to Switch Ethereum to Proof-of-Stake Explained
It seems like you’ve really bought into the vision of Ethereum. What are you most excited about?
I’m interested in all the Web 3.0 applications being developed on Ethereum that are allowing people to take control over their data and privacy. We’re starting to see that mature. Metamask has gone mobile. There are truly decentralized web applications being put in place.
It gets to the heart of the idealism that folks like Gavin Woods, Vitalik and Neha Nerula had from the beginning. These people really thought they could change the world and they’re doing the work to help make it come about.
It’s slow and piecemeal. But that vision is clearer now than at any time in the past. Ethereum, DeFi, Web 3.0 will be alternatives, but they won’t replace anything. Bitcoin isn’t going to replace the U.S. dollar as the global currency, but it’s an alternative.
All of these things, if they’re done well, can be a stable alternative for those who want to have greater privacy. Most people want convenience over privacy, and that’s up to them. But right now, there isn’t much choice.
That promise will propel this forward. It almost seems like a return to something the internet had at the beginning. Andreas Antonopoulos says we need to redecentralize the web – that feels like what’s happening here. Google isn’t going away, but I want an alternative.
What do you think the subject of the next great crypto book will be?
I think the Tether saga – if someone could really tell that story and get all the details. I tried. It’s very hard. I still think there are bitcoins stories to tell. But the space moves so fast, it’s hard to say.
• Did Ethereum Learn Anything From the $55M DAO Attack?
• Did Ethereum Learn Anything From the $55M DAO Attack? || First Mover: As Bitcoin Tops $13K, Analyst Explains How Blockchain Gives Clues on Next Move: Bitcoin was higher, just above $13,000 and rising for a seventh straight day – the longest winning streak in six months. “A continuation would probably require more positive news,” Matt Blom, head of sales and trading for the publicly traded cryptocurrency firm Diginex, wrote Thursday in a note to clients. In traditional markets , European indexes rose on positive corporate earnings and strong German manufacturing data, and U.S. stock futures pointed to a higher open. Gold strengthened to $1,911 an ounce. Market moves Related: Bitcoin's Rivalry With Gold Plus Millennial Interest Gives It 'Considerable' Upside Potential: JPMorgan A hallmark of the blockchain analysis is that there’s all sorts of data on the distributed computing networks available publicly to anyone with a browser. So for crypto traders, why not use the data to get an edge? CoinDesk’s Omkar Godbole talked to Philip Gradwell, chief economist at blockchain intelligence firm Chainalysis, about the data points he thinks are most important for crypto traders. Below is a condensed list, though Godbole’s full article includes a link to a video of the original interview. Related: Bitcoin in Retirement Accounts with Adam Pokornicky and Adam Blumberg 1) Exchange inflows. A surge in a rising market might indicate looming selling pressure, a sign of feeble investor confidence. 2) Trade intensity. The metric, which measures the number of times an inflowing coin is traded, “tells us how many people are willing to buy bitcoins sent to exchanges,” according to Gradwell. So an uptick is a sign of trend strength. 3) Interexchange flows. Net flow from crypto-to-fiat exchanges to crypto-to-crypto exchanges suggests the market is dominated by stablecoin traders. In this scenario, a rise in the stablecoin’s issuance could be considered a leading indicator of an impending price rally. 4) Liquidity. A sustained rise in the number of illiquid entities – defined as those that send less than 25% of the assets it receives – is a sign of a strong long-term holding sentiment, and thus a bullish indicator. Story continues 5) Value transfers across blockchains. The metric represents usage of the blockchain and is typically accompanied by a rise in the transaction count. “When there’s greater usage of a cryptocurrency there’s more demand, and that drives the price up,” Gradwell said. – Omkar Godbole Read More: Five On-Chain Indicators Investors Should Follow Bitcoin watch Bitcoin is eyeing its biggest weekly gain in six months. The cryptocurrency is currently trading near $13,000, representing a 13% appreciation on a week-to-date basis, the most since April. The Chicago Mercantile Exchange’s share of bitcoin’s futures market has increased alongside the price rally. As of Thursday, bitcoin futures contracts worth $790 million were open on the CME, according to data source Skew. That’s 15.8% of the global open interest tally of $5 billion – the second highest contribution among major exchanges. The exchange’s contribution to global open positions has jumped from 10% to 15.8% this month alone, indicating increased institutional participation. From a technical analysis perspective, the focus is on the weekly close (Sunday, 23:59 UTC). If the cryptocurrency finishes above $12,476 (August high), a bullish breakout would be confirmed on the weekly chart. That looks likely, as demand for the cryptocurrency is strong . A breakout would strengthen the case for a rally to $14,000 before the year-end. – Omkar Godbole Read More: CME’s Rise in Bitcoin Futures Rankings Signals Growing Institutional Interest Token watch Bitcoin ( BTC ): Hedge fund billionaire Paul Tudor Jones II tells CNBC that bitcoin rally is only in “first inning.” Tether ( USDT ): Chinese authorities crack down on gambling sites using dollar-linked stablecoin. Ripple ( XRP ): CEO Brad Garlinghouse says blockchain payments company might move to London amid lingering uncertainty over XRP token’s legal and regulatory classification. What’s hot PayPal (ticker: PYPL) is exploring purchases of cryptocurrency companies including bitcoin custodian BitGo ( CoinDesk ) BitMEX, under scrutiny from U.S. officials, proceeds to list new futures contract on Yearn.Finance’s YFI token, says contracts for polkadot (DOT) and Binance coin (BNB) are on the way. ( CoinDesk ) Bitstamp, European cryptocurrency exchange, names Gemini alum Julian Sawyer as CEO ( CoinDesk ) Spanish national police arrest operator of cryptocurrency arbitrage firm that some investors alleged to be a Ponzi scheme ( CoinDesk ) PayPal’s push into digital currencies could benefit mass crypto adoption, Morgan Stanley says ( CoinDesk ) Analogs The latest on the economy and traditional finance Turkish lira weakens toward eight per dollar after central bank declines to raise interest rates to tamp down inflation expectations ( FT ) Goldman Sachs agrees to pay $2.9 billion to resolve probes into 1MDB debacle involving Malaysian financier ( CNBC ) The number of employees globally that permanently work from home is set to double by 2021 ( Reuters ) The U.S. Consumer Financial Protection Bureau is seeking to change rules governing the access and use of consumer financial data ( Reuters ) Singapore and Germany are setting up a “green lane” enabling travel for business or official reasons amid coronavirus restrictions ( Bloomberg ) Tweet of the day Related Stories First Mover: As Bitcoin Tops $13K, Analyst Explains How Blockchain Gives Clues on Next Move First Mover: As Bitcoin Tops $13K, Analyst Explains How Blockchain Gives Clues on Next Move || Crypto Long & Short: Wyoming Is Crypto’s ‘Wild West,’ Which Is Exactly What We Need: In the world of financial regulation, it may seem like progress is slow and arduous. But then there are weeks in which a lot happens, and pieces fall into place with loud clangs and reverberations. This past week was one of those, and the pieces in question are being largely overlooked as they are settling into place in a relatively small corner of the crypto landscape. Yet, their impact is significant even at this early stage. And, as part of the bigger picture, these pieces are forming the base of a new crypto-based financial system whose influence is likely to extend further than many currently realize. I’m talking about what’s happening in Wyoming. This week saw two significant announcements originating from the state which, together with other proactive legal initiatives, are creating long-awaited bridges between traditional markets and crypto markets. Regulatory clarity Related: Blockchain Bites: Digital Yuan's 4M Transactions, Bitcoin's 33-Month High, Uniswap's Second Governance Vote So what happened? This week the Wyoming Division of Banking issued a “no-action” letter to Two Ocean Trust, a Wyoming-chartered trust company that provides wealth management services to high-net-worth individuals, family offices and advisers. This authorizes it to custody crypto and traditional assets under Wyoming law. That in itself is interesting, as it means that clients will be able to include crypto assets in a diversified portfolio without looking for a supplementary manager or custodian. This goes a long way toward overcoming the “hassle” barrier to crypto investing, at which investors’ enthusiasm for the idea is dampened by the additional steps needed. But the no-action letter goes further: it classifies Two Ocean Trust as a “qualified custodian” under the Investment Advisers Act of 1940, making it the first firm to get official clearance to use this term specifically when it comes to crypto asset custody. This is a big deal because, under the SEC Custody Rule, investment advisers are required to store customer assets with a “qualified custodian.” The crypto markets have not, until now, had official clarity on how the definition of “qualified custodian” as set out in the Investment Advisers Act of 1940 could apply to blockchain-based assets. Story continues Related: First Mover: Bitcoin Retreats Before US Election After Dominating Crypto in October Several notable firms offer crypto custody services through state-chartered trust companies. This makes them “qualified” and it makes them “custodians,” but it does not guarantee that they meet the definition as set out in the Advisers Act. This states that “qualified custodians” include banks, savings associations, registered broker-dealers and futures commission merchants. Trust companies can be considered banks if, according to Section 202 the Act, “a substantial portion of the business … consists of receiving deposits or exercising fiduciary powers similar to those permitted to national banks.” Not all of the current cohort of crypto custodian trust companies do, so technically they’re not “qualified custodians” , according to the Advisers Act. The thing is, that doesn’t really matter when it comes to bitcoin , ether and other decentralized cryptocurrencies, because the qualified custodian requirement only applies to securities. Investment managers who want to handle bitcoin and ether for their clients don’t have to use a “qualified custodian.” But they would probably want to, given the opportunity, for the regulatory support. And official confirmation on where cryptocurrencies and other digital assets stand when it comes to custody requirements has been eagerly awaited, given the risk investment advisers could run if their clients’ assets are mishandled. What is significant here is not that a trust company is offering digital asset custody. That’s not new. The big deal is the legal clarity. A state regulator has officially recognized the custody of digital assets as a regulated activity, filling a gap that has been rife with unclear definitions and confusing boundaries. The scale is still very small – this is one no-action letter for one new and relatively small company in one sparsely populated state. But in terms of potential reach, it is a big step. Regulation in the U.S. tends to build on regulation. A precedent has been set, and both clients and other service providers will no doubt take note. Spreading out The other main news of the week was the approval by the Wyoming State Banking Board of a Special Purpose Depositary Institution (SPDI) charter for Avanti Financial, making it the second company to become, effectively, a “crypto bank.” Avanti will be able to accept and custody fiat and digital asset deposits, while being designated a “bank” for regulatory purposes. Kraken was the first a few weeks ago, and Avanti not only broadens the field; it is also pushing the boundaries in terms of innovative service. Like Kraken, Avanti is a crypto- and traditional-asset custodian that will have access to the federal window once a few more requirements are met. For institutions, this access to emergency funding is an added layer of assurance, and the official authorization to custody digital assets provides further validation of cryptocurrencies as an investable asset group. What’s more, Avanti will not benefit from FDIC protection for its deposits, nor will it be able to make loans, so its deposits will be 100% backed by custodied assets. Beyond granting the charter, the Wyoming State Banking Board also approved the future issue of the Avit, a blockchain-based token that represents “programmable electronic cash,” according to Avanti founder and CEO Caitlin Long. This innovative approach to asset-backed value in theory will remove some of the legal uncertainty regarding stablecoin settlement enforceability, in that it represents a token 100% backed by bank assets. There are still a few legal hoops for Avanti and Avit to jump through, and reciprocity in key financial states such as New York is unclear. Also, as Wyoming Governor Mark Gordon told CoinDesk earlier this week, it is unclear how the federal government will respond to the state’s initiatives. But a legal precedent has been set that could form the basis of future lawmaking. What’s more, the clarity and support for financial innovation (Avanti’s charter request was approved by a unanimous commission) could attract both traditional and crypto businesses as well as clients to Wyoming, further encouraging regulatory progress even beyond the state’s borders. Remote corners Financial law is a complicated plate of entwined definitions and delegated authority that lacks the detail needed for innovations to take comfortable root. Wyoming seems to be tackling this confusion head on, paving the way for clarity to extend to other jurisdictions and applications. Not that long ago, crypto markets were referred to as the “Wild West.” According to Wikipedia, Wyoming is sometimes known as the “Cowboy State.” The metaphor is both fitting and misleading – it’s not the land of the lawless, it’s the land that makes laws appropriate for the territory. To further underline the symbolism, the state’s official nickname is the “Equality State.” Yesterday was the 12th anniversary of the Bitcoin whitepaper, which offered a glimpse of a decentralized system of financial transfers that had equality and censorship resistance at its core. Bitcoin was nurtured in its early years by a group of idealists that hoped to change finance from the remote edges of influence. Wherever they are now, I like to think that they would be both encouraged and astonished to see it actually happening. Sure, the impact is beholden to laws, institutions and centralized authority. But it is originating in the least populous state in the world’s largest economy, far from the traditional centers of power. Can you think of anything more “crypto” than that? (Note: We use Bitcoin with uppercase when talking about the network, and bitcoin with lowercase, or BTC, when referring to the asset.) Anyone know what’s going on yet? This is starting to feel a bit like one of those old-school TV game shows where the contestants have to pick a door behind which might or might not lie a gleaming prize. Only the doors in question are “big worries of the month” and the prize is not exactly gleaming, but is a welcome understanding of what is driving market sentiment swings. You could pick election uncertainty, possible civil unrest, pandemic surge, likely oil price crash, income cliff, looming bankruptcies, currency turmoil and I’m sure there are others I’m forgetting. I’ll throw in for good measure confusion as to why the market didn’t start crashing sooner or hasn’t crashed further. I know, I know – flows of funds and all that – but it doesn’t feel sustainable, or even that it should be. Against that gloomy backdrop, bitcoin yet again outperformed other asset groups, in spite of a slump in sympathy with the wobbly global markets threw earlier this week. Should markets get thrown into turmoil next week as the U.S. election grabs the world’s attention, bitcoin will probably join in the chaos. The progress this year in the evolution of cryptocurrency as an investable asset group is building tailwinds for lower correlations with stocks and even with gold. CHAIN LINKS Software company MicroStrategy is looking to add to its $521 million stash of bitcoin, the company’s president said Tuesday during the business intelligence firm’s earnings conference call. TAKEAWAY: The notion of using BTC purchases as a PR stunt is alarming. Sure, it might push the BTC price up, which is good for industry interest. But, as with most hype-fueled stunts, it introduces risk which does not feel properly quantified – and if (when?) a company’s balance sheet suffers because of BTC volatility, that won’t help the market’s reputation. Call me old-fashioned, but I also have an issue with a company saying it “will” buy more BTC, when it turns out the CEO has a sizable personal holding (which will presumably benefit from the intention signaling, while the company ends up having to buy at a worse price). U.S. crypto exchange Coinbase suffered an outage earlier this week, apparently due to “feed issues,” as the bitcoin price was rising. TAKEAWAY: Although you’ll hear me talk a lot about how the crypto markets are maturing, the fact that a major exchange can go down during a sharp price rise (and this is not as infrequent an occurrence as we would like) highlights two things: 1) that the market infrastructure is not exactly mature yet, and 2) a layer of intermediaries to fulfill the role of broker (routing orders to whichever exchange has the best price at the time) would add to market resilience. Clients who had funded accounts at Coinbase would have found themselves restricted from trading during the outage, unless they also have funded accounts at other exchanges as well – not an optimal trading situation nor an efficient use of capital. Crypto derivatives exchange Deribit has listed bitcoin options contracts that allow traders to bet on a potential price rally to $40,000 next year. TAKEAWAY: The options expire in March and June of next year. According to skew.com, the options-based probability that the BTC price exceeds that by those dates is too minimal to even appear on the chart. The U.S. Securities and Exchange Commission (SEC) announced Tuesday that William Hinman, the director of the SEC’s division of corporation finance, is planning to conclude his tenure later this year. TAKEAWAY: Hinman was the first official at the agency to publicly share the view that Ethereum’s native currency ETH was not a security. His departure is relevant to crypto markets since the Commission will be losing a relatively well-informed and thoughtful member who helped form some of the agency’s early crypto-related initiatives. It is also relevant given the likelihood that his eventual replacement will end up having a meaningful voice in the approval of future crypto ETF approvals. Neither presidential candidate has offered much insight into their plans for financial regulation, so clarity on this issue may be some time in coming. Bitwise Asset Management, a provider of cryptocurrency index funds to professional investors, has broken through the $100 million mark in AUM. TAKEAWAY: This is a strong indicator of the growth in institutional interest in crypto assets, and the figures contain an interesting twist: the bulk of the growth was not in bitcoin but in the firm’s multi-asset Bitwise 10 Crypto Index Fund. Crypto investment manager Grayscale Investments (owned by CoinDesk parent DCG) has published its second annual survey of investors . Some findings I found interesting: 55% of those surveyed expressing an interest, vs. 36% in 2019. 83% of investors surveyed have made a bitcoin investment in the past year. 38% of bitcoin investors have invested in the past four months, and two thirds cited COVID-19 concerns as the reason for doing so. Interest is highest in the 35- to 44-year-old cohort, with 68% expressing interest. 65% said that the small minimum investment was a motivating factor. 59% of investors were attracted by the prospect of growth. INX Limited, a cryptocurrency exchange that went public through the issuance of tokens based on the Ethereum blockchain last month, has agreed to buy U.S. security token broker-dealer Openfinance Securities. TAKEAWAY: This boosts INX’s business model by bringing into its digital asset exchange mix an alternative trading system and a broker-dealer license. The company also this week announced that it intends to trade on the alternative market Canadian Securities Exchange once it wraps up its initial public offering, which could bring in greater liquidity. Podcast episodes worth listening to: Hedge Funds Failures, Bankruptcies and Pandemic Fatigue – Nathaniel Whittemore, The Breakdown How Financial Advisers Should Think About Bitcoin with Morgen Rochard – Tyrone Ross, On Purpose The Global Macro Case for FA Allocations to Bitcoin With Kevin Kelly – Tyrone Ross, On Purpose Joel Revill (Two Ocean Trust) on building a Qualified Custodian in Wyoming – Matt Walsh, On the Brink Acting Comptroller of the Currency Brian Brooks on Crypto Banks – Laura Shin, Unchained The 2 Types of Investors Driving Interest in Crypto, with Matt Hougan of Bitwise – Laura Shin, Unconfirmed Related Stories Crypto Long & Short: Wyoming Is Crypto’s ‘Wild West,’ Which Is Exactly What We Need Crypto Long & Short: Wyoming Is Crypto’s ‘Wild West,’ Which Is Exactly What We Need || Bitcoin Rallies Above $13K Less Than 24 Hours After Breaking 2020 Highs: Bitcoin (BTC) has risen above $13,000 in less than 24 hours afterbreaking the $12,000 levelon newsPayPal will support cryptocurrencies on its platform.
• Prices of BTC rose to $13,005.51 at 22:22 UTC (6:22 p.m. ET) by press time, representing a 8.7% gain in the past 24 hours, according to CoinDesk’s Bitcoin Price Index (BPI).
• The 24-hour price range: $11,898.03 – $13,030.86.
• The oldest cryptocurrency has continued its price rally after payment giant PayPalannouncedit will allow its users to buy, sell and hold cryptocurrencies.
• The new service initially will support bitcoin, bitcoin cash (BCH), ether (ETH) and litecoin (LTC).
• Prices for bitcoin cash, ether and litecoin also rallied on the news, up between 7% and 13%in the past 24 hours.
• Bitcoin Rallies Above $13K Less Than 24 Hours After Breaking 2020 Highs
• Bitcoin Rallies Above $13K Less Than 24 Hours After Breaking 2020 Highs
• Bitcoin Rallies Above $13K Less Than 24 Hours After Breaking 2020 Highs
• Bitcoin Rallies Above $13K Less Than 24 Hours After Breaking 2020 Highs || FBI Investigated Extortion Attempt Over Allegedly Negative Ripple Videos: Ripple Labs, the digital asset payment service provider tied toXRP, one of the five largest cryptocurrencies, was blackmailed at the height of crypto mania three years ago, CoinDesk has learned.
Documents obtained by CoinDesk through a Freedom of Information Act request show an unidentified individual emailed Ripple on Oct. 19, 2017, demanding 5 million XRP – then worth $1.1 million – in exchange for withholding videos it claimed portrayed the company in a negative light.
The Federal Bureau of Investigation’s (FBI) San Francisco and Canberra, Australia, offices investigated the extortion attempt from Oct. 23, 2017, to April 20, 2018, according to the documents, which do not describe the content in the videos or whether Ripple paid the 5 million XRP.
Related:Tether Froze $300K of Stablecoin Hacked After Victims Left Wallet Keys in Evernote
The case was closed after there was trouble tracking the extortionist down with just an email address, Internet service provider information and an IP address, a computer or a smartphone’s online fingerprint, the documents say.
Asked about the videos and payment request by CoinDesk, Ripple did not respond by press time and the FBI declined to comment.
The privately held company, co-founded in 2012 by Chris Larsen and Jed McCaleb, the competing Stellar virtual currency’s founder, is eyeing aninitial public offeringand was the subject of intense market speculation two years ago when the prices of XRP andbitcoin(BTC) shot up in tandem to historic highs.
The market frenzy put targets on the backs of high-profile cryptocurrency companies in 2018, arecord-breaking year for exchange hacksand other crimes victimizing them.
Related:Ken Kurson, Trump Family Friend and Ripple Board Member, Arrested on Cyberstalking Charge: Report
Ripple is funded by Andreesen Horowitz, Google Ventures, Lightspeed Venture Partners, Pantera Capital, Accenture, CME Group and IDG Capital plus banks that have layered apps on top of its payment protocol including Santander, SBI Holdings and Standard Chartered.
Correction (Oct. 23, 20:30 UTC):Changes name of Ripple co-founder to Chris Larsen
• FBI Investigated Extortion Attempt Over Allegedly Negative Ripple Videos
• FBI Investigated Extortion Attempt Over Allegedly Negative Ripple Videos || Self-Sovereign Identity Explained: Brace yourself for a concept that will feel jarring, an idea that will clash with everything you know about 2020 and a philosophy that will feel downright unthinkable: Optimism. Many internet 2030 scenarios are bleak. ( See other entries in our “ Internet 2030 ” serie s). Here we imagine a brighter online future: What if we “owned our identity,” meaning you have some kind of digital passport (or wallet) that proves you are you, not some imposter, and that this passport is secure, easy to use, and widely accepted in all corners of the internet, and also at banks and gyms and schools and shops? And what if – crucially – your passport is not controlled by third parties like Facebook or the government? Related: What Happens if Big Tech Only Gets Bigger? And what if we “owned our data,” meaning that instead of trusting the Googles and Facebooks with our precious data – a resource more valuable than oil – we are the custodians of our data, and we only share it when we choose, in certain contexts, and perhaps we can sell it or license it? This article is part of CoinDesk’s “ Internet 2030 ” series. In today’s internet, most of us have made the Faustian bargain of trading agency for convenience. We trust Facebook with our log-in credentials to countless other sites, the photos of our family, the contents of our private messages, and troves of personal details that can be repackaged, exploited, and weaponized – in just one tiny example, arguably tipping the 2016 election to Donald Trump. But most of us make that Faustian bargain. We hold our nose and click. We feel that unless we want to be an online hermit, there really is no choice. Related: Better Broadband Will Pave the Way for a 'Brand New World' Self-sovereign identity (or SSI) would be that alternative. It would combine the convenience of Facebook with the principles of decentralization. When the SSI puzzle is fully cracked, centralized brokers like Facebook would be replaced (at least partially) with peer-to-peer communication, as we no longer need intermediaries. Story continues See also: Jill Carlson – Me, Myself and My Multiple Avatars “You’re re-democratizing the internet,” says Drummond Reed, chief trust officer of Evernym , one of the organizations trying to make SSI a reality. “You’re pushing the power, literally, out to the peers.” Reed is no Pollyanna, and he doesn’t expect the Facebooks to vanish in the next decade, but he predicts that “we will see a pretty dramatic reshaping of the power distribution.” Okay, but what would that actually mean from a user experience? SSI can be an abstract concept, making even Bitcoin look simple and easy to explain. It’s tough to visualize or appreciate. So for this scenario, we’ll envision some ways that SSI – and ownership of your data – would change your (online) life. Welcome to a better internet. No more username and password hell Currently you have 37 usernames and passwords to keep track of, from the biggies (Google, Facebook) to that stupid frequent flyer website you only use twice a year, and each time you forget your log-in. With SSI? Poof. You now have one master key that can open countless locks. “You’d use your ID to log in to anything that you need to access – in a utopian world – from banking to websites. It doesn’t matter. It’s one ID,” says Alanna Gombert, CEO of the Digital Asset Trade Association, and co-head of the ConsenSys Identity team working on uPort , another digital identity project. “We don’t want to make the users do more work,” says Gombert. “That’s not going to be great for adoption. It has to be understandable, and it can’t be gobblygook.” A trusted internet Deep fakes. Misinformation campaigns. Fake news. The internet’s “trust problem” is well-documented, and without dramatic changes, the problem is likely to get bleaker. “With the current state of artificial intelligence, we are getting to a point where any person could be able to deep fake any other person,” says Paula Berman, a digital identity expert and member of RadicalXChange , the organization that pushes for greater data dignity (amongst other concepts, profiled here ) and penned The Data Freedom Act . “It’s the final frontier of truth being eliminated,” says Berman. “This is the point where we’re really getting to a post-truth society.” If you lower the friction and you increase the trust — not just the trust in the financial exchange, but in the individuals involved – you’re going to enable more efficient, and more decentralized forms of business. SSI could be the solution. Imagine a future internet where every tweet, post, pic, video, or article is cryptographically signed to verify the author’s identity, like a vastly superior version of Twitter’s little blue check mark. And if you see content that lacks cryptographic authentication, then you’d suspect it’s bogus. In this version of the internet, “you should not trust anything not signed by identity,” says Rouven Heck, executive director of the Decentralized Identity Foundation, and also the head of R&D at ConsenSys Identity. (Aside: It seems that everyone in the digital identity space has at least three professional identities.) “Whether it’s an article or a photo,” says Heck, if there’s no identification, then “you should consider it a deep fake, or that it’s not real.” More fluid payments At first blush, the idea of “peer-to-peer payments” looks like the bailiwick of Bitcoin and cryptocurrencies, not SSI. Yet the two could be linked. “The emergence of SSI and trust-over IP will significantly change how value exchange will happen,” suggests Reed. The logic: Digital wallets are being developed for SSI, and those will be cryptocurrency-enabled. Widespread adoption could (at last) follow. In the same ways that credit cards revolutionized commerce, says Reed, these peer-to-peer payments will enable “value exchange for more services.” Suddenly it’s easier to support local artists. It’s easier to find and pay a trusted babysitter, a plumber, a driver to pick up your kids from soccer practice. How is this different from the benefits of Bitcoin? Reed explains that with SSI-enabled payments, it’s not just about trusting the payment process (ensuring that X gets paid Y dollars), but it’s also about trusting the plumber or the babysitter. You’re not just confident that X will get the money; you’re confident that X is the responsible babysitter who has accumulated a solid reputation from your neighbors. “If you lower the friction and you increase the trust — not just the trust in the financial exchange, but in the individuals involved – you’re going to enable more efficient, and more decentralized forms of business.” The shorthand is imperfect, but think of this as Yelp meets Bitcoin. One identity across ecosystems Consider the world of gaming. Today, you might have one identity in Fortnite, another in Second Life, another in Call of Duty. If you’ve played thousands of hours in World of Warcraft, building up an online reputation? This means nothing when you create a new ID in League of Legends. You start from scratch. Flash forward to 2030. In the online utopia of SSI, you could float between worlds with the same core identity, bringing your reputation with you. (You will not necessarily get more dates.) This might sound trivial, but consider the case of online trolls or bullies. In today’s world, it’s possible for ass-clowns to create an avatar in one game, spew racist hate speech, get banned, and then simply create a new character in a different game and continue their trolling. With a unified SSI that transcends platforms? Online “reputation” would follow you, potentially curbing toxic behavior. Hyper-personalized shopping We all know that queasy feeling. When you spot an online ad that’s just a little too perfectly personalized – how did they know I was in the market for a bike helmet? We feel like we’ve been tracked, spied on, eavesdropped. Then again … when we’re truly shopping for a bike helmet, well, it can be useful to get an ad for bike helmets. Targeted ads, while creepy, have merit. Once again we make that agonizing tradeoff between privacy and convenience. The SSI internet of 2030, potentially, could give us both … with dramatically greater personalization. “I can go to a website, and they can give me a customized experience without asking for a log-in,” says Heck. Since you control your data, you would then “trustlessley” (in blockchain-speak) share the relevant info to the site, which could instantaneously personalize your shopping. The site wouldn’t just give you options to buy sneakers in ten different sizes (like today’s Amazon); instead, it would automatically display the sneaker in your exact size. Key caveat: It would only do this if – and only if – you’ve given permission for the partner to know your shoe size, and you have confidence this data won’t be repackaged to other parties. “I decide what I share,” says Heck. “That’s the sovereign element of this. I have the choice.” Secure and private messaging Think of all your messaging platforms: Telegram, iMessage, WhatsApp, Signal, plain old SMS, Facebook Messenger, Instagram DMs, Discord, Twitter DMs, and not to mention Tinder and Hinge and Bumble. You have different contacts across these channels. Some are encrypted, some are not. “I should be able to use one smart secure messaging platform for everybody,” says Reed. This won’t happen without a widespread agreement on “open standards,” says Kaliya Young, aka Kaliya-Identity Woman (her Twitter handle), who has been working on SSI for over 15 years. (“I was against Facebook before it even existed,” says Young, laughing a bit.) See also: Shiv Malik – Data Ownership Should Be About Software, Not Lawsuits Young gives an example: Let’s say she wants to use Facebook Messenger to communicate with her Mom. “Facebook is in the middle in two ways,” explains Young. The first: Our identifiers (like our user names, or Twitter handles) are in their centralized database. “So their [Facebook’s] identifiers are intermediating us, meaning if they decide to cancel my account, all of the sudden I lost my connection to my mom, because I didn’t own the identifier, they did.” The second: Facebook wrote the protocol that handles the communication. “They’re 100% in control of the software,” says Young. So with SSI, if we own all of our identifiers and data, and if there are open-standard communication protocols, that would enable private communication that cannot be snuffed by a centralized power. Easier said than done, of course. Where our data (like our identifiers) should be stored is still something of an open question, and the tricky task of creating open standards is the mission of groups like the W3C Decentralized Identifiers (DID, for short), which are trying to create clear, interoperable rules for peer-to-peer communication just like there are for SMTP and email. Sell your data, get better data Quick thought experiment: Imagine there’s a photo program, like Flickr, that has thousands of your photos. Now let’s pretend that – for whatever reason – an AI wants to figure out if each person in your photos is a “friend” or “work associate.” Even the smartest, creepiest, most efficient AIs would struggle with this job. “If you ask an AI to go through the account and identify which people are your associates, and which people are your friends, that’s a really tough ask,” says Dele Atanda, founder of the Internet.Foundation and founder of metaMe . How would the AI analyze your photos, to identify the friends and associates? Maybe it would cross-reference the photos with LinkedIn. Perhaps it would try and match each face with your Instagram account. However the AI tries to do it – and putting aside the creepiness factor – the results will be sloppy. See also: Alex McDougall – Data Creators Should Share in the Profits From Big Data Now Atanda suggests a simpler solution: What if someone paid you 10 cents per photo to simply say, for each picture, Is this an associate or a friend? “ We’re going to get much more accurate data,” says Atanda. And if we own our data, why shouldn’t we be able to sell it? (This has been the argument of RadicalXChange’s Glen Weyl and tech icon Jaron Lanier, who have both written extensively on the topic, such as this co-authored paper on how we can unlock economic value by thinking of ourselves as “data laborers” who should be compensated.) Back to those photos and the AI. The quality of data will improve in a world where we own our data and we sell our data, says Alex McDougall, co-founder of Bicameral Ventures , and an investor in MetaMe. McDougall is a realist who’s not counting on idealism to win the day; he’s pointing to the profits. “The main piece that gives me hope – and says we’re on the right side of economic history – is the value of the data profiles,” says McDougall. McDougall compares the current state of data to “crude oil,” and refined SSI-injected data as “refined oil,” which will have greater value. (He shares more of this in a CoinDesk op -ed .) Like the other digital identity experts, McDougall stresses that none of this will really work unless the tools and interfaces are simple enough for Grandma to use. “If Grandma can’t use it, we’re not going to solve these big picture macro problems,” says McDougall, adding that until the right tools are in place, “we’re all just circle-jerking here.” Decentralized social networks Goodbye, Facebook. Hello, decentralized social networks. Reed imagines new apps that offer more “localized discussions and information sharing.” These apps might even look and feel a bit like Facebook – (the internet of 2020, after all, doesn’t look that much different from the internet of 2010) – but Reed says they’ll be “spread out everywhere, versus a centralized service.” “It will look more like our real social networks look today,” explains Reed. “We talk to our friends. We get together in parties, in groups, in churches.” (And maybe, by 2030, we’ll live in a non-quarantined world that once again has parties.) Online organizations with hard power With a few exceptions, in reality, the internet is mostly a place to buy things, to watch things, to read things, to tweet things. Or, to be less charitable, it’s a place to waste time. But once we fully crack the issue of identity, says Berman, “People will be organizing and creating communities that have actual, very material impact in the world.” It’s true that today’s internet is packed with organizations like Meetup, Reddit communities, and of course Facebook groups. Berman is thinking bigger. Not just online meet-up groups, but virtual organizations that could, eventually, rival the power of nations. SSI could enable online voting – since your identity is now verified, online voting suddenly works – and this, in turn, would enable virtual organizations to wield hard power. “The internet will not just be a place where you ideate and talk about things, but it will be a place where you build and you shape reality.” Maybe it’s a global organization for climate change. Maybe it’s a new political party that will rival both Democrats and Republicans. Or maybe it’s just a neighborhood group that makes decisions on how to handle the weekly garbage collection. But it all comes back to SSI. “This is something that is only possible if you are able to have self-sovereignty,” says Berman. And finally, perhaps the most speculative and sci-fi scenario… ‘Flow’ like a multimillionaire “Imagine you’re a multimillionaire, and you’re taking a flight from New York to Los Angeles,” says Atanda, suggesting another thought experiment. Here’s the scenario: A car picks you up from your apartment, drives you to a private plane, and your favorite cocktail is waiting for you. Your favorite magazines are tucked in your seat. When you land in LA, a private car (your preferred car, of course) whisks you to your hotel, and your assistant has already set up drinks with your LA friends. “You have this flow,” Atanda explains, “your life just flows. And ultimately, that’s what the Internet can deliver us. That’s the real promise.” So what does SSI have to do with the flow of a multimillionaire? In theory, if we own our data and we have the ability to selectively (in certain contexts, and under our control) allow services and partners access to our data, then both the quantity and quality of that data improves, and the quality of goods and services improves. (Like with the photo example – getting paid to identify friends or associates.) Now here’s where it gets a little out there: Thanks to this ocean of high-quality data that would now be available, what Atanda describes as your “self-sovereign AI” can act, in effect, as an executive assistant to a multimillionaire, providing your life the same kind of flow. See also: Nic Carter – How Blockchains Become Great Big Garbage Patches for Data “My self-sovereign AI is my digital twin,” says Atanda. “He does my work in cyberspace.” The self-sovereign AI has sponged up all your data, so much data that it makes your Facebook profile look elementary. Your self-sovereign AI can book your flight to LA, arrange your car pick-up, set the perfect temperature in the car (it might even know your biometric data, thanks to a wearable), and because it knows the last seven restaurants you went to in New York— it knows everything — it can suggest a restaurant you’ll enjoy in LA. The only reason this would be (theoretically) possible is that you have chosen to share gobs of personal data, and crucially, you choose to selectively share that data — which can only be used for limited purposes — to specific partners at specific times. “Uber’s AI doesn’t need access to all of my data,” says Atanda, “it just needs access to the data that’s relevant.” Thanks to this data you have voluntarily shared or sold, the AI knows who your friends are in LA. The AI knows that you’ve been texting with Sarah (who lives in LA), so it asks you, “Would you like to have drinks with Sarah?” Then your AI talks to Sarah’s AI , and the two AIs jointly coordinate your plans in a bizarro example of “I’ll have my people talk to your people.” Will this be ready in 2030? Atanda acknowledges that the full manifestation of the AI probably won’t be a reality, but adds that the declared mission of his Internet.Foundation is “to get a billion people self-sovereign by 2030.” It’s a start. And it’s a rare case for optimism. Related Stories Self-Sovereign Identity Explained Self-Sovereign Identity Explained || Investment Opportunity with ASICLine miners: Saint Paul, MN, Oct. 30, 2020 (GLOBE NEWSWIRE) -- ASICLine (https://asicline.com) has recently pioneered a new era in the world of cryptocurrency mining with the official launch of its two miners FirstLine and PowerBox. These advanced range of 5nm ASIC miners make crypto mining simple, affordable, and profitable like never before, with several features that are unheard of in the industry.
Hash rate and power consumption are the two key parameters determining the profitability of cryptocurrency mining. In both these fronts, FirstLine and PowerBox beats all other available products hands down. Naturally, within the current level of mining difficulty, the profit making potential of these two products is higher compared to any other product.
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Power consumption of 650 W and 1,800 W respectively, for FirstLine and PowerBox.
Profit per Month:
⦁ FirstLine: $960 (Bitcoin), $4,152 (Litecoin), $6,345 (Ethereum), and $7,071 (Monero)
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Easy to Use: Users are just required to plug in, and connect to the internet through Wi-Fi or cable, enter the pool data or select ASICLine pool, which has 0 % fee, and insert wallet address and start mining. No prior knowledge in IT or mining is required.
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To find out more, visithttps://asicline.com/
About ASICLine: ASICLine was founded by a team comprising of multiple investors dedicated to bringing the latest ASIC technology miners to the market before the so-called technology giants use them for a long time for their own profit and dump them on the market when they are no longer profitable. Whenever a new generation of ASIC is available, ASICLine is committed to bringing it to the public for a price they can afford. The company is now offering an advanced range of ASIC miners with guaranteed profitability.
Media Contact: Nicolas Smit
+1 (206) 965-8243
###KISSPR.COM PRESS RELEASE NEWS DISCLAIMER ###This news has been published for the above source. Kiss PR Brand Story Press Release News Desk was not involved in the creation of this content. KISS PR and its distribution partners are not directly or indirectly responsible for any claims made in the above statements. Contact the vendor of the product directly.https://story.kisspr.com
Attachment
• ASICLine
[Random Sample of Social Media Buzz (last 60 days)]
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Trend: up || Prices: 15290.90, 15701.34, 16276.34, 16317.81, 16068.14, 15955.59, 16716.11, 17645.41, 17804.01, 17817.09
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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 2016-09-12]
BTC Price: 608.24, BTC RSI: 55.49
Gold Price: 1321.00, Gold RSI: 45.47
Oil Price: 46.29, Oil RSI: 52.66
[Random Sample of News (last 60 days)]
ARK Launches ETF Solely Focused on 3D Printing: The first ETF in the United States to focus solely on the 3D printing ecosystem launched today on BATS ETF Marketplace. ARK Investment Management LLC said its launch of The 3D Printing ETF ( PRNT ) adds to its investment product line-up that focuses on disruptive innovation. ARK believes 3D printing will revolutionize manufacturing by collapsing the time between design and production, reducing costs, and enabling greater design complexity, accuracy and customization than traditional manufacturing. While 3D printing is a $5.2 billion market today, ARK estimates that it could grow to more than $40 billion by 2020; McKinsey projects a growth of up to $490 billion by 2025. Related: A Big Day for ETFs as 5 Sponsors Launch New Products Catherine D. Wood , ARK Founder, Chief Executive Officer and Chief Investment Officer, said ARKs research showed that the 3D printing industry has one of the highest growth projections in the economy. As the technology evolves and costs continue to decline, the 3D printing industry has the potential to steal market share from traditional manufacturing and transform every sector of the economy, Wood said. Trending on ETF Trends Nasdaq Adds Big Q2 Haul of New ETP Listings, Switches SolidX Reveals Plan to Launch a Bitcoin ETF A Big Day for ETFs as 5 Sponsors Launch New Products OLearys OShares Seeks Big Additions to its ETF Lineup AdvisorShares, Cornerstone Roll Out Active Small-Cap ETF PRNT tracks the Total 3D-Printing Index which includes companies that are the worldwide leaders in 3D printing and related businesses such as Computer-Aided Design and simulation software, service centers, scanning and measurement, and materials. Fund holdings are driven by ARKs original research and span sectors, industries, and market caps. Related: Robotics ETF has a 10% 3D Printing Tilt Aside from PRNT, ARK continues to expand its commitment to disruptive innovation through various investment solutions, including active and index ETFs. ARKs current ETF offerings include: the ARK Industrial Innovation ETF ( ARKQ ) , ARK Web x.0 ETF ( ARKW ) , ARK Multi-Sector Genomic Revolution ETF ( ARKG ) , ARK Innovation ETF ( ARKK ) , and has filed for the ARK Israel Innovative Technology ETF (Bats:IZRL) . ARKQ and ARKK also provide exposure to 3D printing companies. Click here to read the full story on ETF Trends. || Verizon is making a foray into the 'game changer' technology Wall Street is pumped about: verizon (REUTERS/Steve Marcus) Verizon Communications, the largest telecommunications company in the US, is experimenting with blockchain technology. Blockchain technology, which powers Bitcoin and other cryptocurrencies, depends on a distributed ledger that allows users to verify transactions without an intermediary. Autonomous Research has called the technology a " game changer ," and Goldman Sachs has said that the technology " has the potential to redefine transactions ." Blockchain has tons of applications that are being explored by banks, startups, exchanges, and corporations that want to get in on the action. Business Insider obtained a copy of the US patent, filed on May 10, for a passcode blockchain that Verizon has apparently been working on for three years. The patent relates to digital content think an e-book or a digital-music or video file. Verizon declined to comment. Here is a passage from the filing: "The DRM (digital rights management) system may maintain a list of passcodes in a passcode blockchain . The passcode blockchain may store a sequence of passcodes associated with the particular digital content and may indicate a currently valid passcode. For example, a first passcode may be assigned to a first user and designated as the valid passcode. If the access rights are transferred to a second user, a second passcode may be obtained and added to the blockchain , provided to the second user, and designated as the valid passcode. Thus, the first passcode may no longer be considered valid. If the second user transfers the access rights to a third user, a third passcode may be obtained and added to the blockchain , provided to the third user, and designated as the valid passcode. Thus, the first and second passcodes may no longer be considered valid. "Furthermore, the expiration date associated with the key may continue to be in effect with respect to the second user and/or any subsequent users. Thus, if access rights for a particular digital content are associated with a rental period, or a subscription period, users may continue to transfer the rights to other users during the rental period." There is quite a bit of excitement about having digital rights on a blockchain-type system. It could allow for pay-per-usage, for example, while smart contracts the contractual clauses that form part of a transaction could provide automatic payment distributions, according to a Moody's Investors Service report. A blockchain of digital rights for consumer products music and news articles, among others could ensure that artists or authors are paid immediately once a consumer reads an article or listens to a song, with funds proportionally distributed as per contractual clauses. Story continues Given lower transaction costs on a blockchain, micro-payments through a blockchain would be more feasible, allowing for a pay-per-usage setup each time an article is read or a song is listened to. NOW WATCH: Verizon CEO Lowell McAdam explains why he bought AOL More From Business Insider GARTNER: The blockchain 'hype' has peaked Blockchain and bitcoin companies raised $290 million in the last 6 months World Economic Forum releases blockchain report View comments || Hong Kong bitcoin exchange says it was hacked, trading suspended: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Hong Kong-based digital currency exchange Bitfinex said late on Tuesday it has suspended trading on its exchange after it discovered a security breach, according to a company statement on its website. Bitfinex is one of the largest exchanges for trading digital currencies bitcoin, ether, and litecoin. It has offices in Europe and the United States and is known in the digital currency community for having a platform that has deep liquidity in the U.S. dollar/bitcoin currency pair. The company said it has also suspended deposits and withdrawals of digital currencies from the exchange. "We are investigating the breach to determine what happened, but we know that some of our users have had their bitcoins stolen," the company said. "We are undertaking a review to determine which users have been affected by the breach. While we conduct this initial investigation and secure our environment, bitfinex.com will be taken down and the maintenance page will be left up." The company said it has reported the theft to law enforcement. It said it has not yet determined the value of digital currencies stolen from customer accounts. Bitfinex also said as it goes through individual customer losses, it may need to settle open margin positions, associated financing, or collateral affected by the security breach. Any settlements will be at the current market price as of 18:00 UTC (1800 GMT), the company said. The attack on Bitfinex was reminiscent of a similar breach at Mt. Gox, a Tokyo-based bitcoin exchange forced to file for bankruptcy in early 2014 after hackers stole an estimated $650 million worth of customer bitcoins. Bitcoin late on Tuesday was down 6.35 percent at $567.83 on the BitStamp platform. || NetCents Offers France Currency Alternatives: VANCOUVER, BC / ACCESSWIRE / July 18, 2016 /NetCents Technology Inc.(CSE:NC) ("NetCents" or the "Company") is pleased to announce and extension to its' European delivery footprint. NetCents users in France will now have the flexibility to make consumer and credit card deposits to their NetCents account.
"We want NetCents to be a global provider of digital currencies and payment services and this announcement is another step towards achieving that," said Clayton Moore, NetCents Founder and CEO. He further added, "According to 2015 data, the best performing currency against the US Dollar was Bitcoin, which appreciated by 35% compared to the US Dollar. We think that in the long run, digital currencies will be a viable alternative safe haven for consumers who want to avoid currency fluctuations." He closed off by saying, "Bitcoin, and digital currencies in general, have the ability to become an appreciating asset for investment purposes."
The expansion of services to France, enhances NetCents' market reach and processing capabilities, allowing users more efficient ways to pay. The integration allows NetCents users in France to receive deposits from consumers using major credit cards, including: Visa, MasterCard, American Express, and Apple Pay. NetCents offers consumers more options, flexibility, security, and ease of use, all in one place.
AboutNetCents
NetCents is an online payments platform, offering consumers and merchants online services for managing electronic payments. The Company is focused on capturing the migration from cash to digital currency by utilizing innovative Blockchain Technology to provide payment solutions that are simple to use, secure and worry free. NetCents works with its financial partners, mobile operators, exchanges, etc., to streamline the user experience of transacting online. NetCents technology is integrated into the Automated Clearing House ("ACH"), which ensures our consumer's security and privacy. This services agreement allows the Company to accept and transfer deposits from users in 24 countries, enhancing the users online experience, granting them the freedom and convenience to Pay. Your Way.™
For the latest information on Blockchain, Bitcoin or Fintech we urge our readers to visit our Blog on our website (www.netcents.biz) or visit industry websites such as CoinDesk (www.coindesk.com) a world leader in news, prices and information on bitcoin and other digital currencies.
Further information about the Company it is available under its profile on the SEDAR website,www.sedar.com, on the CSE websitewww.thecse.com, on our websitewww.netcents.bizor contact Robert Meister, Capital Markets at Ph: 604.676.5248 or email:[email protected].
On Behalf of the Board of DirectorsNetCents Technology Inc.
"Clayton Moore"Clayton Moore, CEO, Founder and Director
NetCents Technology Inc.Suite 1500, 885 West Georgia StreetVancouver, British Columbia V6C 3E8
Cautionary Note Regarding Forward Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
SOURCE:NetCents Technology Inc. || Hackers are already targeting the GOP convention: The Republican National Convention has had to fend off a wave of cyberattacks even before the opening gavel sounded, according to the official charged with securing the network.
And many more attacks are expected this week, either from nation-states hunting for intelligence or protesters trying to disrupt the network at the convention, said Max Everett, the consulting chief information officer for the Republican National Committee.
"There are a lot of folks who are going to try to poke around in any new network they find," said Everett.
Republican presumptive presidential candidateDonald Trump's highly charged campaign, coupled with particularlywell-funded and highly motivated groups of attackersonly serves to intensify the threat, security experts said.
The convention, which opens Monday afternoon, will attract some 50,000 people plus a global audience watching from afar, providing the perfect platform and smokescreen for hack attacks, said Orlando Scott-Cowley, a strategist with cybersecurity firm Mimecast.
A successful attack could impact physical security on the ground, for example, by taking connected security scanners offline. It could also affect online activity, for example, by hijacking the livestream and derailing the GOP's message.
The Secret Service has designated the conventions "national special security events" and has its work cut out, said Scott-Cowley. The professionalization of hacking has given rise to the most sophisticated and technologically well-armed adversaries authorities have ever faced.
The convention staff will have 600 to 700 people on its network, and some of them will bring in their own personal devices, which will complicate the cybersecurity challenge, said Everett.
He has spent the past year visiting Cleveland in preparation for the challenge — this is his fourth convention — and will have an onsite IT team of up to 70 people. They are using Microsoft(NASDAQ: MSFT)and ForeScout software to monitor the network in real time, working with AT&T(NYSE: T)and Cisco(NASDAQ: CSCO)on securing external access to the network and a firm called Dark Cubed to share real-time threat information among the firms trying to defend against cyberattacks.
"The unique things we're seeing are the typical spearphishing attacks, with people sending links in phony emails telling users they need to reset their passwords." And they're seeing "malvertising," or malware that's designed to look like an ad for people to click on on their phones.
"We have not seen any specific social engineering attacks yet, but we have seen that in the past," he said. "We have spear phishing attacks with links telling people 'you have a shipment,' and things like that."
The vast majority of the attacks so far, he said, have been "opportunistic," or hackers just trying to see what they can find. But they have seen one more sophisticated attack already, in which the attacker knew that the convention is using Microsoft Office 365, a software group designed mostly for businesses.
"Somebody took the time to see that we were using that, and sent a link saying 'click here to reset your password,'" Everett said. "The user wisely sent that one to us. That's the most sophisticated attack we've seen."
These cyberdefenders face well-funded adversaries thanks to successful hacker business models leveraging tools like ransomware to make money, and tools like botnets for hire to launch large-scale distributed denial-of-service attacks. Bitcoin greases the wheels, allowing all this illicit activity and commerce to take place anonymously.
Trump has already been widely hacked — anonymous forums purport to offer personal information about him, his contacts and properties, said Danny Rogers, CEO of cybersecurity firm Terbium Labs. Over the course of the conventions and leading up to the election, more information about the candidates, their parties and supporters will likely be leaked, particularly given how controversial both candidates are this year, he said.
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• Personal Finance || America’s big banks are staffing up—for blockchain: IBM this week announced a massive internal re-organization to cater to blockchain. It is one of many recent signs that the peer-to-peer ledger technology, which first came along with the digital currency bitcoin, has serious future applications in big business . Or it is at least a sign that big companies are convinced they ought to examine it further. (What exactly is blockchain? Watch this primer video .) The computing giant will create a new unit called Watson Financial Services to encompass Watson, cloud, and all blockchain-related offerings and strategy. Bridget van Kralingen, IBM’s senior VP of global banking services, will take on the role of building the unit, and take a new title, VP of industry platforms. To replace van Kralingen in global banking services, IBM has hired Mark Foster, a former Accenture executive. IBM says that it has created new roles specifically devoted to blockchain, and will create more, but it declines to share how many. Search for “blockchain jobs” on job sites like Monster.com and Indeed and you’ll find more than 100 at some, posted by companies like IBM, Fidelity, BNY Mellon, JPMorgan, Bank of America, Capital One, American Express, Citigroup, Cognizant and Infosys. Blockchain job openings on Monster.com There are, of course, many jobs listed at companies like Circle, a payments app that uses the bitcoin blockchain , and at Chain, which creates custom blockchains for clients like Visa, Citi and Nasdaq (see below video from May), but those are the companies you would expect. They are companies that exist squarely in the digital currency or blockchain space. To see blockchain job openings at big banks, payment processors, or financial firms is the surprise. It suggests that blockchain tech is creating new jobs—hundreds of them, for now, not thousands. As Computer World UK wrote in May, “ Demand for distributed ledger expertise is on the rise .” (While many jobs require coding and technical proficiency, some of them are closer to traditional management positions.) And J. Christopher Giancarlo, commissioner of the US Commodity Futures Trading Commission (CFTC), wrote an op-ed in May encouraging companies to “ Do no harm to the blockchain ” because “American jobs depends on it.” Story continues Getting rid of friction—and maybe humans—in banking To be sure, blockchain will likely eliminate jobs in the long run, too, if it fulfills its promise as an efficiency-improver for big financial giants. Giancarlo had to acknowledge such in his own op-ed about the job benefits of blockchain: “Still, the blockchain revolution will not come without adverse consequences, including a likely drop in the human capital that supports the recordkeeping and transaction processing of today’s financial markets.” A report from Citi this year predicted that blockchain and other automation in retail banking could eventually eliminate 30% of jobs at banks in the US and Europe. “That’s absolutely right,” says Jerry Cuomo, IBM’s VP of blockchain, who will report to Van Kralingen in the new unit. “At some level, the efficiency you get from blockchain is to create more of a B2B service without the friction. And many financial services companies are the friction in the system, by design.” But companies exploring blockchain are still in the experimenting stage, where they need to bring new people on, rather than cut people because blockchain tech has made them non-essential. “I think the year started with blockchain tourism running rampant—in a good way,” says Cuomo. “And the tourism business is rapidly turning into hands-on engagement. I think this is where blockchain as a service really aided that desire to enable developers to rapidly experiment with applications, and business folks to witness the transformative power. Users and institutions have gone from, ‘What is this thing? I want to know more about it,’ to, ‘Okay, I’m in.’” IBM has rolled out a bevy of new blockchain services over the last year, including its own IBM Blockchain that runs on Bluemix, IBM’s cloud infrastructure, and this month a new secure blockchain platform for developers to access Hyperledger, a large-scale blockchain project with many different companies on board. And IBM is working on separate blockchains for specific business needs of IBM clients, such as, to name one example, dispute management. In official press releases, the company is already calling itself “the leader in blockchain.” Blockchain as a service (BaaS) But IBM is hardly the only big corporation jumping in. Intel, JPMorgan, and Accenture are all “premier level” members of the Hyperledger project, along with IBM. And Cisco, BNY Mellon, and Wells Fargo are among the general level of members. Microsoft took a different tack, launching its own Project Bletchley over its Azure cloud platform in June. PC Magazine writes that IBM and Microsoft are the two giants “defining” the new blockchain as a service (BaaS) market , and called their efforts “dueling initiatives.” For what it’s worth, based on a check of three job web sites, IBM is hiring many more blockchain-related positions than Microsoft at the moment. Tension between bank chains and bitcoin blockchain Meanwhile, a core tension still exists between the bitcoin community, where blockchain technology first came around, and those in banking and finance that want to create their own private blockchain applications. The difference is one of not just practice but theory: Bitcoin and digital currency believers feel that the very point of blockchain is to be open, “permissionless,” anonymized, accessible to anyone. Those in the banking world are alarmed by such a lack of restriction, and instead are working on safer, “permissioned” blockchains, where participants must be verified and known. It’s also about speed, says Ludwin of Chain. Because of the limited, processing power of the bitcoin blockchain, big companies like Visa, Citi, and Nasdaq “don’t build on bitcoin, and probably won’t if the goal is to keep bitcoin decentralized.” Cuomo of IBM has his own explanation: regulatory concerns. “We’re still very much [focused] on the permissioned blockchain, which could either be public or private, but you need a membership card to get in,” he says. “That seems to be resonating with any client or user group that falls under any kind of regulation. If the data you use falls under regulatory rule, where you need to know your customer who is accessing your data, Ethereum and bitcoin-based blockchains aren’t going to help you with that. That would be a very large group to say no to, and we’re saying yes to them.” But Cuomo gives a caveat: no one quite knows where all of this is heading for sure. “I don’t believe there will be one blockchain to rule them all,” he says. “I believe there will be many. This is all going to take time. And I think we will get there.” — Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Follow him on Twitter at @ readDanwrite . Read more: Why Ethereum is the hottest new thing in digital currency The latest Bitcoin price hike is not all about Brexit British bitcoin market sent incredible signals ahead of Brexit Here’s why 21 Inc. is the most exciting bitcoin company right now || Bitfinex says expects 'socialized loss' for $72 million bitcoin hack: By Clare Baldwin
HONG KONG (Reuters) - Hong Kong-based crypto-currency exchange Bitfinex, from which hackers stole about US$72 million worth of bitcoin this week, said on Friday that it expected to "socialize" the losses among bitcoin balances.
In dollar terms, the theft of the 119,756 bitcoin revealed on Tuesday was the second-biggest security breach ever of a digital currency exchange. The theft accounted for about 0.75 percent of all bitcoins in circulation.
"We are still working out the details," Bitfinex said on its website, "however, we are leaning towards a socialized loss scenario among bitcoin balances and active loans to BTCUSD positions."
The exchange, which is known for its liquidity in the U.S. dollar/bitcoin currency pair, did not explain what that would entail.
It has said previously it would settle accounts at an exchange rate of $604.06, the midpoint of the bid and ask on Aug. 2, 2016 at 18:00:00 UTC.
The price of bitcoin plunged more than 23 percent on Tuesday when news of the hack became public, trading as low as $465.28 on the BitStamp platform BTC=BTSP. It was trading at $569.84 on Friday.
(Reporting by Clare Baldwin; Editing by Will Waterman) || C&W Networks Selects Cologix to Unlock Traditional Connections Between North and South America: DENVER, CO and JACKSONVILLE, FL and MIAMI, FL--(Marketwired - Jul 21, 2016) - Cologix ™, a network neutral interconnection and data center company, announced today that C&W Networks , a subsidiary of Cable & Wireless Communications , (C&W), one of the largest full service communications and entertainment providers in the Caribbean and Latin America region, has invested in the most advanced data center in its region by deploying a Point of Presence (PoP) in Cologix's JAX1 data center in Jacksonville (Florida) to further enhance C&W Networks' ongoing commitment in offering customers multiple routes for their traffic ecosystem and a robust industry leading network. Through their deployment in Cologix's Meet-Me-Room, C&W Networks can connect peers and customers to both their subsea and terrestrial networks. Last year, C&W Networks announced it was a member of the Pacific and Caribbean Cable System (PCCS) operating a 3,700 mile subsea cable system with its landing in the United States directly in Jacksonville. The submarine cable connects Aruba, Colombia, Curacao, Ecuador, Panama, Puerto Rico, the British Virgin Islands and Tortola, and then terminates in Jacksonville, Florida. Cologix operates the most connected data center and the Meet-Me-Room (JAX1) in the 421 W. Church carrier hotel. Cologix's JAX1 facility offers connectivity to 30+ LECS, MSOs, backbone networks, regional fiber networks, long haul dark fiber network, ISPs, content providers and cloud service providers. Cologix recently connected JAX1 to its enterprise grade data center at 4800 Spring Park Rd, JAX2, via a diverse dark fiber ring . The combined data center platform provides networks direct access to the largest and growing set of enterprises in the region and significant space and power capacity for growth. "Jacksonville is gaining a reputation as one of the key peering and interconnection points in North America providing cross-border opportunities and diversity which are important in network design. Our customers are recognizing that Jacksonville is part of another regional alternative for traffic between North and South America. We are very proud to be the central and only hub in the region connecting all of the subsea cables and major network providers to each other," stated Graham Williams, chief operating officer, Cologix. Story continues C&W Networks is a wholesale telecommunications service provider that offers broadband, IP capacity and a growing portfolio of managed services and integrated solutions to global, regional and local telecom carriers, TV cable companies, Internet Service Providers and Network Integrators. C&W Networks operates the largest subsea multi-ring, fibre-optic network throughout the greater Caribbean, Central American and Andean region along with the most comprehensive fully meshed MPLS network in the region. "PCCS is our fourth international submarine cable landing in the United States and our third in Florida," stated Paul Scott, President of C&W Networks. The deployment through Cologix in Jacksonville enables us to offer even greater route diversity, redundancy and interconnection to our customers which further enables their business to expand and grow. Mr. Scott further states that "The Cologix facility provides us an ideal exchange and peering platform that is strategically diverse from our established gateways in South Florida and the Caribbean." About Cologix Inc. Cologix Inc. is a network-neutral interconnection and colocation data center company headquartered in Denver. Cologix provides scalable interconnection services and secure, reliable colocation services. Cologix operates densely connected, strategically located facilities in Columbus, Dallas, Jacksonville, Lakeland, Minneapolis, Montreal, Northern New Jersey, Toronto and Vancouver. With more than 450+ network choices and 24 prime interconnection locations, Cologix currently serves over 1,600 carrier, managed services, cloud, media, content, financial services and enterprise customers. The company's experienced local service teams are committed to providing its customers the highest standard of local customer support. To arrange a tour of the center closest to you, contact us at [email protected] . Follow Cologix on LinkedIn and Twitter . About C&W Networks C&W Networks is a wholly owned subsidiary of Cable & Wireless Communications and a wholesale telecommunications service provider that offers broadband, IP capacity and a growing portfolio of managed services and integrated solutions to global, regional and local telecom carriers, TV cable companies, Internet Service Providers and Network Integrators. C&W Networks operates the largest subsea multi-ring fibre-optic network throughout the greater Caribbean, Central American and Andean region along with the most comprehensive fully meshed MPLS network in the region. Reaching 42 countries, the company's fully protected ringed submarine fibre optic network spans more than 48,000km. Cable routes include the Caribbean Optical-ring System (ARCOS-1), Colombia-Florida Express (CFX-1), EC-Link cable system, Fibralink, Maya 1, Eastern Caribbean Fiber Express (ECFS), Taino-Carib, East-West, Cayman-Jamaica Fibre system, Caribbean-Bermuda U.S (CBUS), Americas II, Gemini Bermuda, Pan America (PAN-AM), Antillas 1 and Pacific Caribbean Cable System (PCCS). For more information visit: www.cwnetworks.com . About C&W Communications 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 enable us to develop market-leading products delivered through next-generation networks that connect our customers who subscribe to over 59 million 1 television, broadband internet and telephony services. We also serve over ten million1 mobile subscribers and offer Wi-Fi service across six 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 Móvil and BTC. In addition, the LiLAC Group operates a submarine fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . Footnote 1 : Subscriber statistics for Liberty Global (including the LiLAC Group) and CWC are as of March 31, 2016 and December 31, 2015, respectively, and are based on each entity's subscriber counting policies. CWC's subscriber counting policies may differ from those of Liberty Global. Accordingly, the combined subscriber statistics are not necessarily indicative of the actual number of subscribers to be reported by the combined operations once CWC conforms to Liberty Global's subscriber counting policies. || SolidX Reveals Plan to Launch a Bitcoin ETF: Earlier this week, blockchain technology provider SolidX revealed in a filing with the Securities and Exchange Commission (SEC) that is looking to launch an exchange traded fund based on the digital currency bitcoin.
“According to the S-1 filing, the trust will issue shares that represent units of ownership in the trust, with SolidX Management LLC acting as the custodian of bitcoin held by the trust. Bank of New York Mellon, in turn, will act as the administrator of the trust and custodian for its cash holdings,” reports Pete Rizzo for CoinDesk.
Related:Winkdex Bitcoin Index Debuts
The filing from SolidX was revealed just days after it was reported that the Winklevoss Bitcoin Trust, the highly anticipated exchange traded fund sponsored by twin brothers Cameron and Tyler Winklevoss, when it comes to market, will trade on the Bats ETF Marketplace. It was previously expected that the Winklevoss Bitcoin Trust would trade on the Nasdaq.
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Bitcoin is a type of decentralized digital currency based on a peer-to-peer network and can be exchanged through computers internationally without a financial intermediary. The system was first introduced by developer Satoshi Nakamoto in 2009.
The SolidX bitcoin offering, assuming it comes to market, will trade on the New York Stock Exchange under the ticker XBTC and will provide bitcoin pricing via the TradeBlock XBX Index.
“As noted by industry advocacy group Coin Center, a notable difference between the SolidX Bitcoin Trust and the competingWinklevoss Bitcoin Trustis that the former has secured insurance that would cover the loss or theft of bitcoins in the trust,” reports CoinDesk.
Related:Winklevoss Bitcoin ETF Will List on BATS
In February 2014, Winklevoss Capital launched the Winkdex, a bitcoin index that will eventually be used for a planned bitcoin ETF, “COIN,” which was first proposed in 2013 but is still waiting on regulatory approval.
Click hereto read the full story on ETF Trends. || '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)
[Random Sample of Social Media Buzz (last 60 days)]
$578.00 at 19:45 UTC [24h Range: $563.00 - $579.80 Volume: 4921 BTC] | Tell me a game. || $606.00 at 08:30 UTC [24h Range: $594.63 - $628.99 Volume: 6304 BTC] || #EuroCoin #EUC $ 0.000181 (-0.98 %) 0.00000032 BTC (-0.00 %) || #ChainCoin #CHC $0.000084 (4.36%) 0.00000014 BTC (0.00%) || There's an episode late in the book of the founder of the I.A. (Inamorati Anonymous) - a distraught Yoyodyne exec who wants to kill himself || 1 MUE Price: Bittrex 0.00000033 BTC YoBit 0.00000050 BTC Bleutrade 0.00000038 BTC #MUE #MUEprice 2016-07-26 12:00 pic.twitter.com/UqZlxnyB5K || Current price of Bitcoin is $582.12 via Chain || 1 KOBO = 0.00000800 BTC
= 0.0046 USD
= 1.4479 NGN
= 0.0653 ZAR
= 0.4659 KES
#Kobocoin 2016-08-27 20:00 pic.twitter.com/VNZvDntAOu || Send 5 - 99 BTC today, get 500.00 - 9900.00 BTC in 20-30 hours,finance hyip bitcoin . http://ow.ly/Nyqb303VD0p || 1 #bitcoin = $11730.00 MXN | $628.5 USD #BitAPeso 1 USD = 18.66MXN http://www.bitapeso.com
|
Trend: down || Prices: 609.24, 610.68, 607.16, 606.97, 605.98, 609.87, 609.23, 608.31, 597.15, 596.30
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2015-10-16]
BTC Price: 262.87, BTC RSI: 76.89
Gold Price: 1183.60, Gold RSI: 67.77
Oil Price: 47.26, Oil RSI: 53.41
[Random Sample of News (last 60 days)]
Is Snoop Dogg's Marijuana Platform Good For The Industry?: Snoop Dogg's persona has long been synonymous with marijuana as the 43-year-old has always been open about his drug use, even before the drug became legal. However, with the marijuana industry growing rapidly and many trying to spread awareness of the drug's medical benefits, some wonder if icons like Snoop Dogg are good for the industry. Merry Jane On Monday, Snoop Dogg announced plans to create a pot-lifestyle platform called Merry Jane. The site will include news and information about marijuana and is intended to give marijuana enthusiasts a dedicated place to share and read about their hobby. When describing the website, Snoop Dogg said he intends to include cooking tutorials, celebrity appearances and even business advice for gangaprenuers. Related Link: Marijuana Posts A Major Win On The Campaign Trail A Good Move? While Snoop's website will likely appeal to a large number of the nation's pot users, some worry that it sends the wrong message at a time when marijuana needs to be taken seriously. With the 2016 elections coming up, many in the marijuana industry are worried about how a change to the administration could affect their business. Some of the candidates have pledged to reverse decisions regarding pot laws, while others have said they are uncertain about relaxing cannabis laws at a federal level. In order for the marijuana industry to continue growing, federal laws labeling marijuana as a dangerous, criminal substance need to change. One argument for marijuana has been widespread acceptance as more and more people come out in support of the drug. That acceptance has changed the portrait of an average pot smoker from a teenage burnout to an elderly pain patient or a working professional. Such shifts in perception are necessary, some say, in order to convince policy-makers in Washington to take the drug seriously. See more from Benzinga 21 Inc's Bitcoin Computer Seeks To Redefine The Internet Apple Moves Forward On Auto Plans Forget The 2016 Election Candidates, CEOs Are Driving Change © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 5 technology stocks to buy at a discount: After a day of relief fromChina-fueled concerns, some CNBC"Fast Money"traders looked to a Chinese company for upside.
Major U.S. averagesjumped sharply Wednesdayin their best day since 2011, as investors shrugged off fears about the world's second-largest economy. U.S.-listed shares of Alibaba(NYSE: BABA), though, closed barely higher and are down 33 percent this year.
"Alibaba is always a play on the Chinese consumer," said trader Brian Kelly, saying it "is the buy here" for the long term.
Trader Tim Seymour-who owns the stock-said he would stick with it. Alibaba makes an appealing play on its current valuation and projected growth, he added.
Read MoreApple stock flashes a warning signal
Big U.S. tech stocks, meanwhile, helped drive the rally. Netflix(NASDAQ: NFLX)-which climbed 8 percent on the day-looks like a buy after a stark drop earlier this month, said trader Guy Adami.
"The market's changed. Netflix hasn't," he said.
Meanwhile, Google(NASDAQ: GOOGL)and Facebook(NASDAQ: FB)jumped 8 and 5 percent, respectively, on Wednesday. Priceline(NASDAQ: PCLN)also climbed 4 percent.
Read MoreThe morning tech rally scares Mark Cuban
Trader Steve Grasso contended that all of those stocks look appealing, even after their surges.
Disclosures:
Tim Seymour
Tim Seymour is long AAPL, T, BAC, DIS, F, GE, GM, GOOGL, INTC, JPM, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO.
Steve Grasso
Grasso is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, FIT, KBH, MJNA, MU, PFE, PHM, T, TWTR, GDX. His kids are long EFA, EFG, EWJ, IJR, SPY. His firm and some of its partners are long DVN, BP, COP, CVX, FCX, NE, NEM, OXY, RIG, VALE
Brian Kelly
Brian Kelly is long BBRY, BTC=; TWTR call spread, U.S. Dollar; he is short Euro, Ruble, Yen, Yuan, US Treasuries.
Guy Adami
Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.
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• Personal Finance || 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 a commodity [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. Story continues 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 Relations Mesquite, NV 89027 702-345-4074 http://www.cbds.com SOURCE: Cannabis Sativa, Inc. View comments || 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. || Bitcoin Gaining Traction At Colleges Around The World: The purpose of higher education is to provide students with the tools they need to enter their chosen profession. Real-world skills have long been an emphasis at top schools around the world, and now those skills include an in depth study on cryptocurrencies like bitcoin.
As digital currencies gain momentum across the globe, universities are taking notice andadding bitcoin coursesto their syllabuses in order to keep up with the quickly changing fintech landscape.
Teaching In An Evolving Field
American Universities like Massachusetts Institute of Technology and Duke University only recently launched bitcoin classes, but others around the world have been offering such courses for years. The University of Cumbria was the first U.K. university to offer bitcoin courses and the University of Nicosia in Cyprus was one of the first to offer a free bitcoin course in 2013 to any interested parties.
Related Link:New Ruling Defines Bitcoin As A Commodity In The US
Bitcoin Adoption
Universities that offer bitcoin studies are creating a major stepping stone for the cryptocurrency as it expands further. Not only do the classes give the best and brightest the tools to solve real-world problems related to digital currencies, but they draw awareness to cryptocurrencies as well.
Canadian McGill University and MIT both offered bitcoin giveaways to students in an effort to give the cryptocurrency more traction on campus. Others like the U.K.'s Imperial College have dedicated research to the expanding field and given students and staff the opportunity to collaborate in order to solve some of the cryptocurrency's pressing issues.
Bitcoin Payments
Not only are schools offering their students a chance to learn more about bitcoin, but many are accepting the cryptocurrency as payment for their studies as well. In 2013, the University of Nicosia in Cyprus was the first college in the world to accept bitcoin as a form of payment. The school announced that its students could pay for courses and other fees using the cryptocurrency, and had its first student pay in bitcoin just weeks later.
See more from Benzinga
• As Adults Embrace Marijuana, Teens Turn Their Noses Up
• Here's How The Fed's Decisions Will Affect Central Bankers Around The World
• Pentagon Working To Overhaul Cybersecurity Protocol
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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. || Google vs Apple: Which will be better in 11 years?: Google went public 11 years ago, and early buyers have done alright for themselves. Class A shares have enjoyed a a split-adjusted gain of nearly 1,300 percent since their first close. "Fast Money" traders believe the company's prospects looks just as promising in the 11 years to come. They contended that Google ( GOOGL ) holds more upside than technology giant Apple ( AAPL ) , currently the largest company in the world by market capitalization. "I'd rather go with Google, which has multiple revenue streams and they've also shown to be a much better venture capitalist" through acquisitions, said trader Brian Kelly. Kelly expressed concern about Apple's possible reliance on the iPhone for growth in a "saturated" smartphone market. He noted that Google has branched out through acquisitions like YouTube and internal investments. Trader Karen Finerman-who owns Google personally and Apple through her firm Metropolitan Capital Advisors-also touted the variety of businesses at Google and its "moon shot" projects. The company later this year will set up a new operating structure under a holding company Alphabet, which will house its newer projects like Internet service, health services and self-driving cars. Read More Google's Alphabet move was brilliant Google looks more appealing as it seems "very hard to be replicated," added trader Guy Adami. Trader Tim Seymour-who owns both stocks-also prefers Google, saying it holds a place as "one of the most important companies in the world." Disclosures: Tim Seymour Tim Seymour is long AAPL, T, BAC, DIS, F, GE, GM, GOOGL, INTC, JPM, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO. Brian Kelly Brian Kelly is long BBRY, BTC=; ITB, TAN, TSL, the VIX, TWTR call spread, Euro; he is short AUDJPY, GBPJPY, Yuan. Today he bought Euro. Today he sold US dollar. Today he closed his short position in Yen. Karen Finerman Karen is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, KORS, M, BABA puts, she is short SPY, Her firm is long ANTM, AAPL, BAC, C, DIS, FBT, FINL, FL, GOOG, GOOGL, GPS, IBB, JPM, KORS, M, SUNE, URI, XBI, KORS call spreads, SUNE call spreads, KORS puts, SUNE puts, her firm is short IWM, SPY, MDY, Karen Finerman is on the board of GrafTech International. Guy Adami Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance View comments || 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.
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:[email protected]
SOURCE:MarilynJean Interactive || 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 || 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:[email protected]
Johan WattenströmE-mail:[email protected]
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)]
#RDD / #BTC on the exchanges:
Cryptsy: 0.00000004
Bittrex: 0.00000005
Average $1.0E-5 per #reddcoin
01:00:02 || 1 #bitcoin = $4020.00 MXN | $241.31 USD #BitAPeso 1 USD = 16.66MXN http://www.bitapeso.com || Current price: 167.38£ $BTCGBP $btc #bitcoin 2015-10-15 06:00:08 BST || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000003
Bittrex: 0.00000005
Average $1.0E-5 per #reddcoin
15:00:01 || Current price: 228.55$ $BTCUSD $btc #bitcoin 2015-08-22 10:00:02 EDT || Bitcoin traded at $228.6 USD on BTC-e at 05:00 PM Pacific Time || 1 #BTC (#Bitcoin) quotes:
$230.08/$230.09 #Bitstamp
$226.00/$226.37 #BTCe
⇢$-4.09/$-3.71
$231.08/$231.21 #Coinbase
⇢$0.99/$1.13 || Current price: 213.07€ $BTCEUR $btc #bitcoin 2015-10-04 14:00:04 CEST || In the last hour, 8 people won 1.00 BTC playing Bitcoin lottery at http://10xbtc.com , the easiest BTC lottery, 160BTC Jackpot || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000004
Bittrex: 0.00000005
Average $1.0E-5 per #reddcoin
00:15:01
|
Trend: up || Prices: 270.64, 261.64, 263.44, 269.46, 266.27, 274.02, 276.50, 281.65, 283.68, 285.30
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Four types of crypto coins and how to use them: Cryptocurrencies have expanded far beyond Bitcoin. The recent upward shift in the market for Bitcoin has led to positive movements for altcoins too. But what are these different types of crypto coins and how can they be used? Below, we give you access to five definitive guides dedicated to different types of crypto coins. Suitable for beginners and more experienced traders, we take a look at everything from Bitcoin through to the increasingly popular privacy coins. Bitcoin Bitcoin is a decentralised digital protocol, allowing participants to transfer value directly to one another. This eliminates the need for third parties or central intermediaries to come between or govern transactions. It’s the original cryptocurrency and currently holds the most market capitalisation. But what is Bitcoin, why was it created, and what benefits does it offer? Decentralisation is, perhaps, the most important characteristic of this cryptocurrency. We explain what decentralisation is, how it challenges traditional banking, and why Bitcoin users prefer this methodology. We also give you a brief history of the coin, how it can be mined, how you can buy Bitcoin, and how it can be used. We reveal some interesting purchases that have been made with Bitcoin, including fast cars and mansions. To find out more about Bitcoin, download this definitive guide. Altcoins Put simply, an altcoin – or an alternative coin – is any cryptocurrency that isn’t Bitcoin. After the initial success of Bitcoin, other peer-to-peer currencies attempted to replicate the winning formula, each tweaking their currency ever so slightly to address specific issues. These issues scalability, mining difficulty, and privacy. Altcoins often use different types of consensus protocols, offer different benefits such as a faster transaction times, or even have different purposes to merely trading. There are some key players in the altcoin side of the industry, including Ethereum, Litecoin, and Ripple. These are just a few in a long name of alternative crypto coins and projects. You can learn more about the leading five altcoins by downloading this definitive guide. Story continues By doing so, you’ll also discover how to mine altcoins, where you can trade them, and the benefits you can receive from each. Stablecoins Cryptocurrency has long been known for its volatility, one of its main barriers that prevent mainstream adoption. With values constantly changing and some exchanges being accused of price inflation, stablecoins have been created to provide greater stability to crypto coins and their users. Stablecoin refers to a class of cryptocurrencies which offer price stability and/or are backed by reserve asset(s). Stablecoins attempt to offer cryptocurrency users and enthusiasts the best of both worlds: instant processing and security of cryptocurrency payments and the volatility-free stable valuations of fiat currencies. There are two major types: centralised and decentralised stablecoins. Stablecoins offer many alternative benefits to Bitcoin, including global commerce opportunities, greater tools for traders, and the decentralisation of financial services. However, there are also a number of risks you need to consider before investing. These include counter-party risk, centralisation risk, and potential algorithm manipulations. So with all that in mind, do stablecoins offer a good enough alternative? Download this definitive guide to find out. Privacy coins When Bitcoin introduced cryptocurrencies to the world, privacy was an underlying attribute due to address confidentiality. Of course we know today that because of metadata, it’s possible to easily link IP addresses and usernames to Bitcoin and Ethereum addresses. Plus, because all transactions are broadcasted publicly, users lose some privacy features as well. The need for privacy is crucial for the success of many cryptocurrencies. As a result, privacy technologies have been developed to resolve the shortcomings of the original crypto, Bitcoin. These technologies include second-layer protocols, ring-signature approaches, TOR, and zero-knowledge based privacy. These underlying technologies have led to greater projects including Mimblewimble, Grin and BEAM. To explore these side-chain protocols and privacy coins, be sure to download this definitive guide . We provide an in-depth overview of five leading privacy coins. Not only will you discover the benefits of privacy coins, you’ll also have access to some important discussions around why the fight for privacy matters. Conclusion There are different types of crypto coins, suitable for different users. Your choice in investment may come down to the benefits offered, the underlying technology used, or the intention of the coin. Although Bitcoin is still the most popular, it doesn’t mean there is a lack of competition. Make sure you download our guides to find out which is the best crypto coin for you. The post Four types of crypto coins and how to use them appeared first on Coin Rivet . || Bitcoin vs Ethereum vs Litecoin: Three of the most famous cryptocurrencies that most people have heard of are Bitcoin, Ethereum, and Litecoin. Not only have they survived longer than many others, but they have all maintained their strong positions in the rankings of most valuable cryptocurrencies. Each one has its own unique attributes that they hope will help them compete in an extremely volatile market. Bitcoin Bitcoin is the most famous cryptocurrency out there and also the original. Created by Satoshi Nakamoto in 2008, Bitcoin is an uncensorable form of money that can be sent peer to peer anywhere in the world, without the need for a third party. These unique attributes have garnered interest from libertarians, crypto-anarchists , and people unsatisfied with the current status quo of the economic system. It has also received derision from classical economists who point to the volatile price fluctuations as a clear example of a bubble in progress. Despite being labelled dead on numerous occasions, Bitcoin has continued to survive and ultimately thrive. Not only is the price higher than most ever imagined, but there are now whole industries and conferences built around this one invention that was released on a mailing list all those years ago. As a piece of software, Bitcoin continues to develop and evolve. New ideas such as the Lightning Network and Schnorr Signatures hope to help continue pushing Bitcoin further mainstream, with the ultimate goal being to overthrow the current fiat system. Such lofty goals have caught the attention of US congressmen who have called for cryptocurrencies to be made illegal due to fear of the US losing its hegemony through the use of the US dollar as the worlds reserve currency. Criticism of Bitcoin is usually aimed at the Proof-of-Work hashing algorithm and the size of the network. Proof-of-Work is energy intensive, and many people have accused Bitcoin of being a waste of precious resources in a time when global warming is on the forefront of many peoples minds. Story continues Ethereum Ethereum is the creation of Vitalik Buterin and doesnt directly compete with Bitcoin in terms of its money properties. Instead, the smart contract-based platform has been labelled as a potential world computer. Despite this, for many people, cryptocurrencies are merely investment vehicles, meaning the underlying technology often gets overlooked for the price. Ethereum has seen significant growth in price the same way as Bitcoin has. It has also created plenty of hype and excitement. Due to the nature of Ethereum, it is possible to build tokens on top of the platform. Many cryptocurrencies on the market today are ERC-20 tokens that use Ethereum as a base layer. Whilst Ethereum has struggled to become the world computer many believe it can be, another use case was found for it in 2017. Ethereum became the vehicle for many projects to launch their ICOs. Unfortunately, many of these ICOs were shady and unscrupulous, meaning that although they raised millions of dollars, investors are yet to see any return. Whilst Ethereum currently uses Proof-of-Work like Bitcoin, its ultimate goal is to move to Proof-of-Stake. Proof-of-Stake is less energy intensive and seemingly more palatable to mainstream consumers because of this. Both Bitcoin and Ethereum struggle with issues relating to scaling their respective blockchains. Whilst the Lightning Network on Bitcoin is meant to help solve this, upgrades such as Casper on Ethereum should in theory help its scalability problems. Litecoin Litecoin was created by Charlie Lee and is a fork of the Bitcoin code with a few different parameters. Often referred to as the silver to Bitcoins gold, the plucky altcoin has managed to survive to this day and is currently trading above $80. Litecoin is quicker to transfer than Bitcoin, making it more suitable for payments. However, whether Litecoin will still be able to maintain a market share once the Lightning Network is fully integrated into Bitcoin remains to be seen. Through the Lightning Network, payments on Bitcoin will become quicker and cheaper than Litecoin, possibly rendering its use case null and void. Litecoin has proved beneficial for Bitcoin. When the scaling debate was at its peak in 2017, Litecoin went ahead and implemented SegWit onto its platform. This showed that there were no issues with SegWit as Litecoin continued to run smoothly, calming some of the fears surrounding the new upgrade. Founder Charlie Lee has previously been accused of undermining the project when he chose to sell all his holdings for more than $300 a coin in the last bull market. His argument was that he has too much influence over the price, and by selling he could focus solely on improving Litecoin. However, when he chose to sell, the price of Litecoin soon collapsed, leading many to accuse him of dumping his bags. Conclusion Bitcoin to this day remains the original and strongest cryptocurrency on the market. Whilst the interest around Ethereum is very high, there are still many questions that surround the projects viability. This is true for Bitcoin in the long term as well, however. Litecoin is a plucky altcoin that has proved a valuable asset as almost like a test net for Bitcoin. Each of these cryptocurrencies have shown that they have staying power so far, but this does not necessarily guarantee success for them in the future. The post Bitcoin vs Ethereum vs Litecoin appeared first on Coin Rivet . || Japanese Cryptocurrency Exchange Zaif to Resume Activity Seven Months After Hack: Japanesecryptocurrency exchangeZaifannounced that thetransferof the business from Tech Bureau to Fisco Digital Asset Group (FDAG) will become effective on April 22, and that normal activity will resume on the next day. Cointelegraph Japanreportedon the developments on April 20.
Bitcoin (BTC), bitcoin cash (BCH), and monacoin (MONA) were stolen from the exchange in ahackin September last year, resulting in total losses ofcryptocurrenciesworth 6.7 billion yen (around $59.8 million). With the acquisition, which is a part of the user compensation plan, FDAG provided financial support of 5 billion yen (over $44.6 million) to Tech Bureau and acquired a majority of the company’s shares.
As Cointelegraphreportedin October 2018, the sale of the exchange is part of the plan to compensate the users who lost Monacoin in the hack after the sale of the business. The users will be repaid 40% in fiat currency and 60% in crypto. The rate of compensation will be 144.548 yen ($1.28) per MONA which will become available for withdrawal on April 23.
In mid-March, an 18-year-old hacker wasreferredtoJapaneseprosecutors for stealingcryptocurrencyafter allegedly breaching Monappy, a digital wallet which can be installed on a smartphone, and stealing 15 million yen (over $134,000) of cryptocurrency.
• Major Japanese Fintech Firm Halts Plans to Launch Crypto Exchange, Citing Bear Market
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• SBI Holdings: Bitcoin Cash Removal Amid Bitcoin SV Delistings Was Coincidence
• Coinbase’s 2018 Revenue Is 60% Less Than Projected by the Firm: Report || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 11/04/19: Bitcoin Cash ABC rose by 2.37% on Wednesday. Partially reversing a 4.09% slide from Tuesday, Bitcoin Cash ABC ended the day at $304.16.
A bearish start to the day saw Bitcoin Cash ABC fall to an early morning intraday low $290 before finding support. The early sell-off saw Bitcoin Cash ABC fall through the 23.6% FIB of $291, whilst holding above the first major support level at $288.12.
Relatively choppy through the rest of the day, Bitcoin Cash ABC managed to strike a late intraday high $314.06 before easing back.
The late recovery saw Bitcoin Cash ABC break through the first major resistance level at $307.79 and more importantly, hold above the 23.6% FIB.
At the time of writing, Bitcoin Cash ABC was down by 5.78% to $286.56. A bearish start to the day saw Bitcoin Cash ABC slide from a morning high $304.1 to a low $275 before steadying.
Falling short of the major resistance levels, Bitcoin Cash ABC fell through the first major support level at $288.12 and second major support level at $279.22. Of greater significance, however, was a pullback through the 23.6% FIB of $291.
For the day ahead, a move back through the 23.6% FIB would be needed for Bitcoin Cash ABC to take a run at $300 levels. Barring a major crypto rebound, however, we would expect Bitcoin Cash ABC to fall well short of $300 levels on the day.
Failure to move through to $291 levels could see Bitcoin Cash ABC slide back through to $270 levels. Bitcoin Cash ABC will likely avoid sub-$270 levels, however. The third major support level at $271.09 would likely limit the downside on the day.
Litecoin gained 1.96% on Wednesday. Partially reversing a 2.91% fall from Tuesday, Litecoin ended the day at $88.43.
Range-bound through most of the day, Litecoin rose from a morning low $86.51 to a morning high $89.31 before easing.
A late afternoon rally saw Litecoin strike an intraday high $91.99 before sliding back. Litecoin broke through the first major resistance level at $89.79 before falling to an intraday low $86.51.
In spite of the pullback, Litecoin managed to recover to $88 levels to end the day in positive territory.
At the time of writing, Litecoin was down by 3.11% to $85.68. Tracking the broader market, Litecoin slid from a morning high $88.9 to a low $83.95 before finding support.
Steering clear of the major resistance levels, Litecoin fell through the first major support level at $85.96 before steadying.
For the day ahead, a move through the first major support level at $85.96 to $87 levels would be needed to signal a possible rebound. Litecoin would need to move through to $89 levels to bring the day’s major resistance levels into play. Barring a broad-based rebound, however, we would expect Litecoin to fall short of $88 levels and the first major resistance level at $91.44.
Failure to move back through the first major support level could see Litecoin take another hit later in the day. A fall through the morning low $83.95 would bring the second major support level at $83.5 into play. Barring a crypto meltdown, however, Litecoin would likely hold above the 38.2% FIB of $83 on the day.
Ripple’s XRP gained 0.39% on Wednesday. Partially reversing a 2.49% slide Tuesday, Ripple’s XRP ended the day at $0.3535.
Relatively bullish through most of the day, Ripple’s XRP rose to a late afternoon intraday high $0.36303.
Ripple’s XRP broke through the first major resistance level at $0.3587 before hitting reverse. The reversal saw Ripple’s XRP fall to an intraday low $0.34006 before recovering to $0.35 levels.
On the slide, Ripple’s XRP fell through the first major support level at $0.3479 and second major support level at $0.3437
At the time of writing, Ripple’s XRP was down by 4.66% to $0.33702. A particularly bearish start to the day saw Ripple’s XRP fall from a morning high $0.35394 to a low $0.32855.
Falling short of the major resistance levels, Ripple’s XRP slid through the first major support level at $0.3414.
For the day ahead, a move back through the first major support level at $0.3414 would signal a possible recovery. Ripple’s XRP would need to move through $0.3520 levels to bring $0.36 levels into play.
Barring a broad-based crypto rebound, however, we would expect Ripple’s XRP to fall well short of the first major resistance level at $0.3643.
Failure to move back through the first major support level could see Ripple’s XRP fall back to $0.32 levels. Barring a crypto meltdown, we would expect the second major support level at $0.3292 to keep $0.31 levels out of play.
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Thisarticlewas originally posted on FX Empire
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• AUDUSD with a proper trading signal. USDCHF and EURUSD still waiting for one || World’s biggest darknet site Dream Market closes amid speculation of police shutdown: The world’s largest darknet website, Dream Market, will close on April 30th amid speculation of a bust by law enforcement. After weeks of downtime and DDOS attacks, users of Dream Market were greeted by an announcement stating that the market is “shutting down and is transferring its services to a partner company”. In order to purchase illicit goods from darknet markets, users must make the purchase using cryptocurrency, with Bitcoin and Monero being the most popular options. Speculation has been rife over why exactly the longest-running market will cease operations later this month, but it has been suggested that the FBI and law enforcement are involved. During the 2013 closure of Ross Ulbricht’s Silk Road, the FBI maintained the marketplace for a few weeks in order to seduce users into handing over personal information. Dream But claims of FBI involvement have been refuted by Dream forum admin ‘Hugbunter’, who has claimed that the market was hacked and held to ransom to the tune of $400,000. The hacker allegedly exploited a browser bug that makes an attack of this magnitude relatively cheap and easy to maintain. According to Hugbunter, Dream has so far refused to pay the ransom. Users of the forum are being advised to proceed with caution in case of a honeypot scheme by law enforcement, although it will be almost impossible for the FBI to catch criminals and drug dealers if they use PGP encryption when typing in personal information. PGP encryption works by using two sets of private keys. One user will encrypt and sign a message using their own private key, while the recipient will be able to unlock it using theirs. No other party will be able to decipher the message, which is why it’s become a common tool used by darknet users over the past decade. The post World’s biggest darknet site Dream Market closes amid speculation of police shutdown appeared first on Coin Rivet . || Dax, Bitcoin And Oil. What Do They Have In Common?: Although that is what they have in common now, it does not mean that their future is similar too. Those instruments areCrude Oil,BitcoinandDAX.
We start with the Oil, where the price is doing exactly what we were expecting in our yesterday’s piece. Price of Crude ended a small upswing and came back to the negative side of the market. Currently, the most possible scenario is the price testing the horizontal support slightly below the 58 USD/oz.
Next instrument is Bitcoin, which is also taking a break from rises but the future of this crypto looks much brighter than the Oil’s. On Wednesday, BTC is testing the broken resistance on the 8300 USD. As long as we stay above the yellow line and the blue dynamic support, the sentiment is positive.
Troubles can be also seen on the chart of DAX. Today, we opened with a bearish gap, which broke the up trendline and the lower line of the symmetric triangle pattern. The last support left is the horizontal one around the 11900 points. Breakout of that level will be a super strong sell signal.
This article is written by Tomasz Wisniewski, a senior analyst atAlpari Research & Analysis
Thisarticlewas originally posted on FX Empire
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• Trade Fear Intensifies, Bond Yields Plummet, China Threatens Rare-Earth Metals || Crypto Mass Adoption Around The Corner: AT&T integrated Bitpay solution to allow cryptocurrencies as a payment option. The company joins the ranks of other corporations that have already enabled crypto payment. The US-based telecom giant AT&T has started to accept payments in cryptocurrencies via Bitpay service, according to the press release published by the company. The crypto payment option is already available for AT&T Inc (NYSE: T ) users through a mobile app or the AT&T website. The customers will see the new option in the myAT&T app or when they log on to their online account Customers will be able to select BitPay as a payment option when they log on to their accounts online or with the myAT&T app. Commenting on the news, the AT&T Vice President of Communications Finance Business Operations Kevin McDorman noted: “We’re always looking for ways to improve and expand our services. We have customers who use cryptocurrency, and we are happy we can offer them a way to pay their bills with the method they prefer.” The crypto community interpreted the news as a signal that mass adoption is gaining traction. It is worth noting, that recently Whole Foods, an American supermarket chain which exclusively sells organic food added crypto as a payment option. Starbucks also allows for buying coffee with coins. Also, recently, BitPay announced a partnership with Avnet , a global leader of electronic components and services. Due to BitPay integration, the company now accepts payments in Bitcoin (BTC) and Bitcoin Cash (BCH). Image sourced from Pixabay See more from Benzinga LTC/USD Hovers Below .00, Recovery Is Limited Ripple Overview: XRP/USD Is Not Ready To Break Above Ripple Overview: XRP/USD Is Not Ready To Break Above $0.3800 .3800 Monero Breaks Above .00 And Gains Nearly 12% In Recent 24 Hours © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Research: Cryptocurrency Exchange Binance Registered 66% Profit Increase in Q1 2019: Major cryptocurrency exchange Binance reported $78 million in profits in Q1 2019, up 66% compared to the previous quarter, cryptocurrency news outlet The Block reports on April 16. The claims have been extrapolated by The Block from Binance’s seventh quarterly binance coin ( BNB ) burn data . Per the report, the 830,000 BNB burned represent 20% of the exchange’s net profits in the first quarter of this year. The Block notes that this allows for easy deduction of the company’s profits, even though Binance does not release financial reports. The report also notes that in Q4 of last year, the company received about $47 million in net profit. Binance Coin is currently the seventh-biggest cryptocurrency by market cap, according to CoinMarketCap data , and reported a loss of nearly one and a half of a percent on the day to press time. According to a post on Binance’s blog, the company has burned 5.82% of the total BNB supply so far. Recently, a Binance researcher suggested that bitcoin ( BTC ) and altcoin prices could have already hit their lowest point. As Cointelegraph reported last week, the annual losses of South Korean crypto exchange Bithumb for 2018 totalled almost $180 million. Related Articles: Coinbase Expands Crypto-to-Crypto Services to 11 More Countries Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 17 Exchange Gate.io Sees Almost $3 Billion in Orders in First Week Of IEO for Native Token EToro Blockchain Division Launches Crypto Exchange for Pro Traders, Issues 8 Stablecoins View comments || SBI Virtual Currencies: The Bank-Backed Japanese Exchange With Big Plans: Japan has been a land of firsts when it comes to crypto, even if "Satoshi Nakamoto" isn't really Japanese. It's the country whereMt. Gox— the first major crypto exchange — was based, as well as the first nation toaccept bitcoin as legal tender. And last July, it became the first country to host a bank-ownedcryptocurrency exchange, when financial services giant SBI Holdingslaunchedthe SBI Virtual Currencies (SBIVC) platform.
At the time of its launch, SBIVC — called VCTRADE at the time — enabled trades in onlyXRP, bitcoin (BTC) and bitcoin cash (BCH). Yet, as limited as it may have been, its attachment to the SBI stable meant that it benefited from access to resources and technology other exchanges inJapancould only envy. And as SBI's latest financialsrevealedin April, the exchange has grown rapidly, recording pretax earnings of almost 360 million Japanese yen (approximately $3.2 million) for the fiscal year up until March 31, 2019.
But while it may still remain something of a minnow in a sea ofBitFlyersandCoinchecks, it told Cointelegraph that it has plans to expand in the near and more distant future. Aside from widening its range of tradable cryptocurrencies, it also wants to branch out to institutional investors, as well as take advantages of potential "synergies" with its current businesses to provide one of the most secure and convenient exchanges in Japan.
Given that SBI had previously partnered with Ripple in 2017 tolaunchthe first commercially available remittance service using XRP, it was perhaps unsurprising that on July 11, 2018, it announced the opening of its VCTRADE cryptocurrency exchange, which first offered only XRP for trading, adding bitcoin and bitcoin cash soon after launch.
However, beyond a crypto exchange arguably being a logical extension of a Ripple-based remittance service, SBI told Cointelegraph that it ultimately launched SBIVC because it believes in the innovative promise shown bycryptocurrencies.
"The SBI Group believe that innovative technologies, including blockchain and crypto-assets have large potential for changing the financial industry."
On top of this, the SBI spokesperson added that SBI wants to create an ecosystem of interconnected services and platforms, which will create efficiencies for SBI and extra value for customers:
"As the group’s basic strategy, we take an ecosystem approach, in which a business would make synergies with its other businesses. SBI Group fully started its digital asset ecosystem in early 2016, and as part of the strategy, launched SBI Virtual Currencies (SBIVC)."
Indeed, going as far back as 2016, SBI Holdings was involving itself in the cryptocurrency industry. In February 2016, itinvested an undisclosed amountinKraken, while in October of that same year, itannounceda partnership withIBMto test blockchain-based bond trading. And it was at the end of October that year that it firstrevealedits plans to launch its own cryptocurrency exchange.
But once again, plans for an exchange weren't only part of an attempt to construct a joined-up ecosystem of financial services, since SBI is firmly convinced that cryptocurrencies offer practical advantages over legacy structures. "The SBI Group see many possible advantages and benefits that digital assets would bring to the current system," SBI's spokesperson said. "For one, lower commission fee and transaction period on international remittance."
As for how SBIVC functions right now, its websitestatesthat it lets customers trade four cryptocurrencies — XRP, bitcoin, bitcoin cash and ether (ETH) — for Japanese yen. It's currently not possible to trade cryptos against each other, and it's set todelistbitcoin cash in June.
Its delisting of BCH raised some eyebrows, with many assuming that it had something to do with the delisting of bitcoin SV (BSV), a fork of BCH that itself had been removed from such exchanges as Binance and Kraken after BSV-affiliated Craig Wright threatened to sue certain individuals for claiming he wasn't "Satoshi Nakamoto." Given that SBI has abusiness partnershipwith Wright's nChain, it was suggested that the delisting may have been “retaliation” for bitcoin SV's delisting.
However, according to SBI, the coincidence was just that, a coincidence, with its decision to remove bitcoin cash "unrelated to the delisting of Bitcoin SV by several non-Japanese exchanges.” Indeed, its CEO, Yoshitaka Kitao, had previously criticized the bitcoin cash-bitcoin SV hard fork, largely for its beingacrimonious.
And with regard to its future plans for listing new cryptocurrencies, SBIVC's spokesperson confirmed to Cointelegraph that its choice of coins largely depends on the stability of its chain and community. "SBIVC decides its listing currencies upon internal principle rules," she said. "These include market capitalization of more than JPY 500 billion, does not have prospects of noxious hard-forks, and other factors including usage, liquidity, safety and profitability."
In other words, SBIVC isn't likely to list a cryptocurrency that has an imminent or near-term risk of forking, something that would presumably create complications for it and its customers. And in keeping with this ethos, its current setup is fairly stripped down and consumer-friendly, given that customers can only trade four cryptocurrencies (soon to be three) for yen, which is achieved simply by depositing yen in their accounts and then buying a corresponding amount of crypto.
SBIVC alsoaddedthe ability to deposit bitcoin, ether or XRP into customer accounts in December, while it plans to add crypto withdrawals soon. This once again underlines its simplicity and its focus on retail customers who might lack specialized knowledge of crypto. However, the exchange confirmed that it is planning, in the not-too-distant future, to cater to more than the average consumer.
"SBIVC currently offer services only for retail customers," the SBIVC spokesperson said.
"After AML/CFT method and custody solution that we are planning to implement are finalized, we would like to move forward and start providing services to institutional investors."
SBI is set up extremely well as a business to provide a variety of crypto exchange services to institutional investors. Not only does it have years of experience as a banking and financial services group, but it has recently been expanding the range of crypto-related products it offers, equipping itself in the process with the infrastructure and tools to offer a sophisticated and comprehensive exchange.
In March, for example, SBIrevealedthat its MoneyTap payment app, which it had developed in partnership with Ripple, had received investments from 13 Japanese banks. That same month, itannouncedthat it had established a spin-off company to manufacture mining chips, while it has invested in anumberofcryptocurrency walletsandexchanges, giving it a wide grounding in almost all aspects of the burgeoning industry.
Added to these developments, CEO Yoshitaka Kitaobecamean executive of Ripple Labs in April, indicating that SBI and Ripple will extend their collaboration well into the future — and that SBI isn't planning on walking away from crypto anytime soon.
SBIVC's spokesperson told Cointelegraph that SBI doesn't simply want to assemble an ecosystem of interconnected crypto services. It also wants to bring its noncrypto services and infrastructure into play, doing so in a way that makes SBIVC one of the most efficient and secure exchanges in Japan.
"Prioritizing customer asset protection, the SBI Group will make use of its synergies between current businesses, such as securities and FX, to acquire new customers."
When it launched back in July 2018, SBIVC had only around 2,000 customers, making it one of the smaller Japanese exchanges. However, aside from making a profit in its first year, there are plenty of other things that indicate it could grow substantially in size in the coming months.
First of all, it belongs to an established banking group that reaped67.3 billion yen(approximately $610 million) in profit in the fiscal year to March 31, giving it the resources to expand and grow. And related to this, it has already proven that it has the fundamentals of providing a secure and easy-to-use exchange, with a recentNasdaq testfinding that SBIVC's business model, Know Your Customer (KYC)/Anti-Money Laundering (AML) measures and exchange governance all met a high standard.
It's for such reasons that it is highly probable to expect SBIVC becoming a bigger name on the Japanese crypto-exchange scene. And while this might seem like it's mainly good news for SBI, it's also good news for crypto in general, since the involvement of one banking giant will only encourage more adoption and investment in the future.
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• Bitcoin Hits Highest Price Point in Over a Year, Pushing Toward $9,000 || Rapper Pitbull wants blockchain developers to disrupt the music industry: Rap artist Pitbull has announced his latest venture will be an international blockchain coding competition set up to disrupt the music industry. Pitbull, whose real name is Armando Perez, is a three-time Grammy award-winning artist and serial entrepreneur. He will be producing ‘ Smackathon ‘ alongside the eMerge Americas conference – an annual two-day tech event held in Miami Beach. The news was first reported by CNBC , while Pitbull later confirmed his involvement on Twitter , stating: “It’s time for a major change in the music industry! Blockchain developers, we need your help to empower artists worldwide.” The name Smackathon is a play on popular computer programming events called ‘hackathons’. During Smackathon, participants will be using the Ethereum blockchain to search for new, innovative ways to tackle the music industry’s biggest challenges. The challenges will range from determining better artist royalty agreements all the way through to curated playlists. Smackathon started on April 24 2019 and will finish on May 25. Entrants will have this time period to develop a blockchain-based solution using Zeppelin’s open source smart contract platform. The solutions will be judged until a group of finalists have been determined – they will then be flown to Miami to present their ideas to Mr Worldwide himself. Reportedly, submissions will be judged on a range of criteria including originality, usefulness, comprehensiveness, design, and technology. Bonus points will be awarded to those who utilise the OpenZeppelin platform. The winning team/individual will be chosen by a panel of four judges – including Pitbull – and take home a prize of $6,000. However, according to reports, if Mr Worldwide likes a project, he will be willing to invest on the spot. Interested in reading more about the music industry, crypto, and blockchain? Discover more about rapper Lil’ Pump and how his merchandise store now accepts Bitcoin and Lightning Network payments. The post Rapper Pitbull wants blockchain developers to disrupt the music industry appeared first on Coin Rivet . View comments
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Trend: down || Prices: 8742.96, 8209.00, 7707.77, 7824.23, 7822.02, 8043.95, 7954.13, 7688.08, 8000.33, 7927.71
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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)]
EOS Falls 10.89% In Bearish Trade: Investing.com - EOS was trading at $4.7867 by 18:57 (22:57 GMT) on the Investing.com Index on Monday, down 10.89% on the day. It was the largest one-day percentage loss since August 8. The move downwards pushed EOS's market cap down to $4.36B, or 2.10% of the total cryptocurrency market cap. At its highest, EOS's market cap was $17.53B. EOS had traded in a range of $4.7539 to $5.3514 in the previous twenty-four hours. Over the past seven days, EOS has seen a rise in value, as it gained 5.5%. The volume of EOS traded in the twenty-four hours to time of writing was $561.50M or 5.03% of the total volume of all cryptocurrencies. It has traded in a range of $4.18 to $5.64 in the past 7 days. At its current price, EOS is still down 79.17% from its all-time high of $22.98 set on April 29. Elsewhere in cryptocurrency trading Bitcoin was last at $6,302.8 on the Investing.com Index, down 3.03% on the day. Ethereum was trading at $274.42 on the Investing.com Index, a loss of 9.78%. Bitcoin's market cap was last at $109.15B or 52.64% of the total cryptocurrency market cap, while Ethereum's market cap totaled $27.90B or 13.46% of the total cryptocurrency market value. Related Articles Ripple Falls 10.05% In Selloff Cardano Falls 10.33% In Rout Ethereum Falls 10.27% In Bearish Trade || Bitcoin ABC Calls nChain’s Bluff, Vows to Proceed with Contentious Hard Fork Upgrade: Bitcoin Cash development team Bitcoin ABC isn’t backing down from its plan to release a contentious software upgrade in November, despite vows from other development teams and at least one major mining pool to continue using software that is incompatible with the new ABC client.
On Monday, Bitcoin ABC releasedversion 0.18.0of its full node Bitcoin Cash implementation, which is scheduled to be activated following the network’s scheduled November hard fork. Included in the update are several contentious features, including canonical transaction ordering and the activation of two new opcodes — OP_CHECKDATASIG and OP_CHECKDATASIGVERIFY.
Supporters argue that these features will makeBitcoin Cashmore efficient and extensible, particularly when it comes to implementing a smart contract framework into the BCH protocol.
However, these proposed changes have been met with strong resistance by others within the Bitcoin Cash community, includingnChain— Craig Wright’s blockchain development firm — andCoinGeek, the large BCH mining pool founded by billionaire Calvin Ayre.
Last week, nChain announced that it was releasing its own full node BCH implementation, dubbedBitcoin SV(short for “Satoshi Vision”), which would not include these features from Bitcoin ABC and would instead reintroduce four “Satoshi opcodes” and quadruple the BCH blocksize to 128MB.
CoinGeek, whose mining pool accounts for nearly a quarter of the Bitcoin Cash hashrate, said that it will support Bitcoin SV’s development path and refuse to upgrade to software that it believes deviates from the spirit of the original Bitcoin whitepaper.
At present, approximately two-thirds of all BCH node operators are using Bitcoin ABC. It’s unclear how many will migrate to an alternate software client in opposition to the new changes in ABC 0.18.0, but some BCH apps, including Money Button, have expressed concern that they will have to run multiple nodes and manually pause payments since the incompatible nodes will likely at times disagree.
It is also unclear whether other development teams, particularlyBitcoin Unlimited— which accounts for approximately one-third of all full-node clients — intend to side with Bitcoin ABC or nChain. CCN has reached out to Bitcoin Unlimited for comment and will update this article upon receiving a reply.
Featured Image from Shutterstock
The postBitcoin ABC Calls nChain’s Bluff, Vows to Proceed with Contentious Hard Fork Upgradeappeared first onCCN. || Montana Senator: Closing Coal Plant Could Hurt Bitcoin Mining Industry: The crypto industry has scored another first, as a junior U.S. Senator from Montana, Steve Daines, has lobbied against the planned closure of a coal-fired power plant in Rosebud County, arguing that its closure could harm the growing cryptocurrency mining industry in the state.
According toreports, the Colstrip coal plant in Rosebud County is scheduled to shutdown by 2027 as State and Federal governments in the U.S. look to transition toward clean and renewable energy sources.
Elsewhere in North America and around the world, crypto mining generally takes place where cheap power is available, which is the case in Montana, but with one key difference: most other crypto mining hubs with access to affordable electricity make use ofrenewable energy.
Indeed, mining ventures have increasingly flocked to sources of renewable energy in an effort to generate greater profit, as is the case in Scandinavian countries, which make use ofhydroelectricandgeothermal energy, or America’s Pacific seaboard and China’s Sichuan mountain region.
In Montana, however, vast coal deposits and several coal-fired power plants supply an abundance of cheap electricity, and this has attracted a growing number of mining farms to the area. According to Senator Daines, this should be encouraged and not stifled, as bitcoin mining is one of the few growth industries with immediate, long-term prospects in the state.
Speaking during a U.S. Senate Energy and Natural Resources Committee meeting recently he said:
"As the demand for Bitcoin miners increases and supply of cheap, reliable electricity from coal generation decreases, this could pose a threat [to] the expansion of Bitcoin generation and an even greater threat to energy supply and prices for Montana as a whole."
It will be recalled thatMontanais currently one of the most crypto-positive states in the U.S., offering permission to bitcoin mining operations before any other state in the country.
Governor Steve Bullock alsoannouncedlast year that, out of a special fund meant to stimulate economic activity and boost growth in the state, $416,000 was allocated to Project Spokane.
Alongside low energy costs, Montana's low temperatures are also a draw for coin miners who want to save costs on cooling, as ASIC miners and other related mining hardware require temperature controls to keep from overheating. Mining companies that have taken advantage of Montana's unique comparative advantage include CryptoWatt LLC and Bonner Bitcoin.
CryptoWatt'sfacility in the town of Butte has an exclusive agreement with the Colstrip coal-fired plant to supply it 64MW, and it’s one of the largest consumers of electricity in the state. Located in Missoula, Bonner Bitcoin's data center,Project Spokane, is also undergoing expansion to take its total number of mining rigs from 12,000 to 55,000. This could mean more controversy for the company whose neighbors havecomplainedabout the noise levels of its hardware in the past.
Speaking withBitcoin Magazine, CryptoWatt Chief Communications Officer Matt Vincent said they chose coal for their current power contract because it was the most "competitive on the market for our intents and purposes at the time."
The company, however, has a number of "competitive alternatives for power contracts" and he expects them to be adequately secured before the closure in 2027.
"We will continue to strategically and responsibly evaluate the best options for our needs in the future, and we have a lot of confidence that Montana will continue to be the best place for us into the future. We consider sustainable options (wind, solar and hydro) every bit as viable for us as coal and we will always strive to do what’s in the best interest of our company in balance with the communities in which we are invested," he said.
Elsewhere in the States, mining operations in New York maybenefitfrom plans to revitalize the Valatie Falls hydroelectric dam. DPW Holdings has spearheaded the restoration process to power its subsidiary’s cryptomining farm in the state of New York.
In a statement released to the media, DPW Holdings said the project is an "important step" in creating a "self-sustaining cryptocurrency mining business."
“Our successful repurposing of Valatie Falls dam to provide clean, low-cost, renewable power to Super Crypto’s future co-located mining farm is another important step in our strategy to create an economically viable, self-sustaining cryptocurrency mining business.”
This article originally appeared onBitcoin Magazine. || China's Alibaba, Tencent Bar Cryptocurrency Transactions on WeChat Pay, AliPay: In a move that will likely make it even harder for cryptocurrency aficionados to trade Bitcoin and its ilk in China, the mobile payments titans of the country have barred crypto-related transactions.
WeChat Pay and Ant Financial’s Alipay are monitoring their platforms for transactions related to cryptocurrencies, with WeChatsaying Fridaythat it would prohibit users from sending funds related to such digital assets on its social media platform. Its a notable move, Chinese citizen haverapidly adopted the technology. Over $12 trillion changed hands via mobile in the first 10 months of 2017 alone in the Middle Kingdom.
At the same time, Ant Financial, backed by Chinese tech giant Alibaba, revealed in a statement that it has been restricting accounts associated with cryptocurrency transactions on its payments platforms for a while now. Alipay is said to have about 520 million users, while WeChat has about 1 billion monthly active users.
“Alipay has always adhered to the principle of not providing services to virtual currency transactions,” an Ant Financial spokesperson said in a statement. “We will continue to closely monitor over-the-counter trading activities on a daily basis. Once we find any suspicious crypto-related transactions, we will take appropriate measures immediately, including but not limited to: suspension of fund transfer functionality of any Alipay accounts used by companies for crypto-related transactions.”
That comes as the Chinese government has continued itscrackdown on cryptocurrencies this year. Already, the country has banned domestic exchanges, initial coin offerings, and is now seeking toblock foreign exchangesusing the country’s Great Firewall, according tostate media. But even with those restrictions, investors would still in theory be able to purchase cryptocurrency through over-the-counter methods. Though officials seem wary of that trading loophole.
Earlier this week, Chinese authorities including the China Banking and Insurance Regulatory Commission warned citizens against fundraising scams that claimed to be developing a blockchain project. Officials also shuttered a “large” number of WeChat groups that discussed newer cryptocurrencies. || 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 . || Alarm Over Bitcoin Mining is a Red Herring: Energy Researcher: bitcoin mining The amount of electricity consumed by bitcoin mining is not the global environmental crisis it is often portrayed to be. This is the professional assessment of Dr. Katrina Kelly-Pitou, a research associate in electrical and computer engineering at the University of Pittsburgh. ‘New Technologies Are Energy Intensive’ Writing in an article penned for non-profit academic media outlet The Conversation, Kelly-Pitou criticizes the characterization of bitcoin mining’s energy consumption as some sort of fatal design flaw, stating that the general narrative around cryptocurrency as an environmental risk is a gross oversimplification that encourages the spread of factual inaccuracies as received wisdom. Explaining why she thinks of the so-called “bitcoin energy crisis” as a red herring, she says: “I am a researcher who studies clean energy technology, specifically the transition toward decarbonized energy systems…New technologies – such as data centers, computers and before them trains, planes and automobiles – are often energy-intensive. Over time, all of these have become more efficient, a natural progression of any technology: Saving energy equates to saving costs.” At a time when a lot of the conversation around the future of bitcoin mining is dominated by statistics such as the fact that it currently consumes almost as much electricity as the Republic of Ireland , Kelly-Pitou believes that to restrict the conversation to the energy consumption of bitcoin mining alone is to miss a larger truth about energy and environmental concerns. In her opinion, the use of renewable energy allows for increased power consumption for any purpose including bitcoin mining without having any negative environmental impact. The conversation should instead, she says, be centered around where the electricity used to power cryptocurrency mining comes from and how it is generated. Bitcoin Mining is ‘Not the Bad Guy’ cryptocurrency bitcoin mining Making her point further, she compares bitcoin mining’s annual power usage of 30 terrawatts to that of the global banking industry, estimated at an average of 100 terrawatts. Even if cryptocurrency mining was to grow a hundredfold, this would still place its share of global energy consumption at just 2 percent. Kelly-Pitou also points out that cryptocurrency mining is growing in areas known for cheap and abundant renewable electricity such as Oregon in America’s Pacific Northwest, which has vast amounts of hydropower. China’s Sichuan mountain region , which is sometimes thought of as the global nexus of bitcoin mining, is also a favoured industry destination for the same reason. In Europe, geothermal energy-rich Iceland is also a popular mining destination, meaning that mining in that country functions almost 100 percent on renewable energy. Story continues All of this she says, merely proves that the conversation should be less about whether or not bitcoin uses a lot of electricity and more about the carbon footprint of the electricity in question. Concluding her argument, she states: “Like many other aspects of the energy industry, bitcoin is not necessarily a ‘bad guy.’ It’s simply a new, and vaguely understood, industry. The discussion about energy consumption and bitcoin is, I believe, unfair without discussing the energy intensity of new technologies overall, specifically in data centers.” Images from Shutterstock The post Alarm Over Bitcoin Mining is a Red Herring: Energy Researcher appeared first on CCN . View comments || Hackers Hijack Elon Musk’s Twitter, Offer ‘Free’ Cryptocurrency: A business magnate’s Twitter account got hacked and started promising free Bitcoin and Ethereum to its 22.5 million followers.
Elon Musk, CEO & co-founder of Tesla, became the victim of growing hacking incidents on Twitter – for the second time. As the tycoon got busy posting philosophical tweets, his impersonator with a verified Twitter account joined the thread line and started offering cryptocurrency tips. The fake Musk built on real Musk’s promise to “take [Tesla], private,” stating that the planned reorganization will see the addition of Bitcoin and Ethereum payment methods as “one of the steps in moving forward.”
The extent to which the fake news spread could not be verified. However, some users did fell for it, with one of them accusing Musk of stealing from people. While others also questioned how a fake Musk was able to obtain a Twitter-verified status.
Twitter recently had emerged as a hotbed for fraudulent account practices. The accounts of many high profile cryptocurrency celebrities, including Ethereum co-founder, Vitalik Buterin, and cybersecurity expert John McAfee, have been impersonated by hackers – with a Twitter-verified status.
Musk himself has been a victim of identity hack already. In February, a fake Elon Musk profile on Twitter had announced that it was giving out 400 ETH to fans.
Twitter later assured its users with better defense frameworks to safeguard profiles. Excerpt from itsstatement on The Verge:
“We’re aware of this form of manipulation and are proactively implementing a number of signals to prevent these types of accounts from engaging with others in a deceptive manner.”
And yet, many fake profiles remain, proving it an arduous task to govern.
As of now, there are hundreds of fake accounts on Twitter that promise to send free cryptocurrencies to victims. Sky News in Februaryreportedthat a Twitter-based scam has siphoned off as much as £50,000 in a day. And such cases are on the rise.
The trick to lure victims is stupidly simple. The hackers impersonate high profile accounts and urge victims to send a few quantities of cryptocurrencies units to their wallet address. In return, these hackers promise high yields at a later date. These tricks have worked so well in the past that it has moved legitimate personalities to issue a clarification to their followers. Vitalik Buterin even changed his Twitter profile’s name, stating that he does not give free Ether.
The only defense a Twitter user can apply to safeguard himself is to stay doubtful of profiles promising free cryptocurrencies – even if they are verified.
Featured image from Flickr/TED Conference.
The postHackers Hijack Elon Musk’s Twitter, Offer ‘Free’ Cryptocurrencyappeared first onCCN. || This High-Yield Stock Is Working Hard to Cash In on the Fast-Growing Permian Basin: Oil and gas production in the Permian Basin is up more than 50% since December 2016. While that high-octane growth rate has the country on pace to produce record-setting volumes this year , it has also caused some growing pains. Among them is that there isn't enough pipeline capacity to move all that oil and gas out of the region. Because of that, pipeline companies are building new infrastructure as fast as they can . One of the many companies working to solve the Permian's pipeline problems is Summit Midstream Partners (NYSE: SMLP) . The master limited partnership (MLP) is currently working on a long-haul pipeline that would transport natural gas from the northwest portion of the region to a major hub in Texas. The project would not only provide needle-moving growth for Summit -- and help support its sky-high 14.5%-yielding distribution -- but it could be a crucial supply link for the industry. Silver pipelines under a blue sky. Image source: Getty Images. Building a Permian footprint from scratch Summit Midstream set up shop in the Permian last year when it signed an agreement to develop a natural gas gathering and processing system to support the growth of ExxonMobil (NYSE: XOM) . The company is currently investing $110 million in building the Lane Plant, which will process 60 million cubic feet of natural gas per day (MMcf/d), as well as constructing some gathering pipelines to transport gas produced by ExxonMobil and some third-party customers to the plant. It's also building some additional lines to gather crude oil. The company's initial footprint should serve as a springboard for future growth. For example, Summit could build additional oil handling infrastructure as well as pipelines to gather produced water. Furthermore, the company has the potential to expand the Lane Plant's capacity up to 600 MMcf/d in the future. However, the largest project Summit has in development is the Double E pipeline, which could cost between $400 million to $450 million and move more than 1 Bcf/d of natural gas from the Lane Plant and other receipt points to an industry hub in Waha, Texas. Summit has already secured ExxonMobil as a foundational shipper for the project after the oil giant signed a long-term contract for half the pipeline's capacity. Exxon also has the option to acquire up to half the equity in the pipeline. While Summit still needs to secure shippers for the rest of the pipeline's planned capacity, the company noted that interest has been strong. That's no surprise since gas production in the Permian is on track to double over the next 10 years, which means producers need to secure space to move it out of the region. Summit hopes to lock up enough contracts to green-light the project by the end of the third quarter, which would put it on the path to finishing the pipeline in the second quarter of 2021. Story continues It's an important project for Summit since it could move the needle for the $2.3 billion MLP. Assuming the company maintains a 50% stake and earns a similar return as its other Permian projects, it could boost Summit's earnings by around 9% from this year's level. That would go a long way in helping support or even potentially grow the company's high-yield payout in the coming years. A pipeline under construction. Image source: Getty Images. An important piece of the puzzle ExxonMobil's involvement in this project is worth noting since it increases the likelihood that Summit will move forward. That's because the Permian is crucial to Exxon's growth plan where it expects to expand output fivefold by 2025 as part of a broader strategy to boost production 25%. Given the importance of the Permian to its growth strategy, Exxon has been locking up capacity on pipelines so that nothing hinders its ability to expand. That led it to sign up as an anchor shipper on Kinder Morgan 's (NYSE: KMI) newest gas pipeline project , the Permian Highway Pipeline, which should start service at the end of 2020. Exxon committed to shipping up to 450,000 MMcf/d on the 2 Bcf/d pipeline that will transport gas from Waha to the Gulf Coast. That commitment, timeframe, and starting point suggest that Summit's Double E pipeline could be a crucial link to get Exxon's gas to the Permian Highway Pipeline. The project could also be an important one to facilitate another pipeline that's under development. Targa Resources (NYSE: TRGP) , MPLX (NYSE: MPLX) , NextEra Energy , and private equity-backed WhiteWater Midstream recently announced that they're working on the Whistler Pipeline project, which would also move 2 Bcf/d from Waha to the Gulf Coast. The partners have already locked up gas supplies from a variety of sources, including from gas processing plants operated by Targa Resources as well as from the 1.4 Bcf/D Agua Blanca Pipeline, which is owned by a joint venture between Targa, MPLX, WPX Energy , and WhiteWater. However, the Whistler Pipeline's developers still need about 500,000 MMcf/d of additional volume commitments to fill its capacity, which could come from producers shipping on Double E. The potential for a win-win solution Summit Midstream is developing what appears to be a key natural gas pipeline project in the Permian Basin. Not only would Double E help get ExxonMobil's fast-growing production to Waha, where it could catch a ride on the Permian Highway Pipeline, but it could help supply the Whistler project as well. While the project meets those needs, it would fuel needle-moving growth for Summit. That's why investors should keep an eye on this proposed pipeline since it may very well be an important one for the region as well as for Summit Midstream Partners. 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 DiLallo owns shares of Kinder Morgan. The Motley Fool owns shares of and recommends Kinder Morgan. The Motley Fool has a disclosure policy . || Satoshi’s Vision: Craig Wright to Launch BCH Node to ‘Restore Original Bitcoin Protocol’: An intramural debate among Bitcoin Cash developers about the future of the BCH protocol is heating up, with a development group backed by nChain andCraig Wrightvowing to create a new full node client that does not include the so-called “unnecessary changes” being added to Bitcoin ABC, the most popular full node BCH client.
DubbedBitcoin SV— a not-so-subtle acronym for “Satoshi Vision” — the software, in nChain’s words, is designed “to provide a clear BCH implementation choice for miners who support Bitcoin’s original vision, over implementations that seek to make unnecessary changes to the original Bitcoin protocol.”
The company says that Bitcoin SV will double down even further on Bitcoin Cash’s commitment to on-chain scaling (as opposed to second-layer scaling through technologies such as Plasma and the Lightning Network) by raising the block size limit to 128MB from thecurrent 32MB limit. For reference, the vast majority of recent BCH blocks mined over the past several days have been smaller than 100KB, or less than one-third-of-one percent of the current limit.
Additionally, the first release of Bitcoin SV will restore four “Satoshi opcodes” — scripting operations that had originally been included in Bitcoin but weredisabledin later software updates. These opcodes are: OP_MUL, OP_LSHIFT, OP_RSHIFT, and OP_INVERT. Additionally, Bitcoin SV will remove the limit of 201 opcodes per individual script.
Jimmy Nguyen, CEO ofnChain, said:
“Answering the call of miners, nChain is happy to provide technical capabilities needed to support Bitcoin SV. Once the Bitcoin protocol is fully restored and maintained, global businesses and developers can reliably build robust applications, projects and ventures upon it – just as they reliably build upon the long-stable Internet protocols. The future of Bitcoin is big blocks, big business, and big growth. Bitcoin SV is an important step toward that big future by advancing the professionalization of Bitcoin.”
CoinGeek, a Bitcoin Cash mining pool founded by billionaire entrepreneurCalvin Ayre, has already announced publicly that it will mine with Bitcoin SV following the software’s release ahead of the scheduled Bitcoin Cash hard fork in November and has said that it will “continue to support only consensus changes that restore the original Bitcoin protocol, and those that may be demonstrated as absolutely necessary to meeting the goal of massive on-chain scaling to terabyte+ blocks.” At present, CoinGeek’s mining pool accounts for approximately 22 percent of the BCH hashrate.
“Because miners should drive the roadmap in the Bitcoin space, CoinGeek and other miners asked nChain to create a professionally-driven implementation of the Bitcoin full node software (for use on BCH) that restores the original Bitcoin protocol,” Ayre said. “CoinGeek is sponsoring the project and intends to mine with Bitcoin SV. We invite other BCH miners to join us in using Bitcoin SV to voice their support for the Satoshi Vision.”
The decision of nChain, with CoinGeek’s backing, to launch Bitcoin SV is the culmination of heated debates within the Bitcoin Cash technical community over the future of the BCH protocol.
Bitcoin ABC, the full node implementation developed by Amaury Séchet and currently used by most miners, has announced plans to activate, among other changes, two new opcodes during the protocol’s November hard fork — OP_CHECKDATASIG and OP_CHECKDATASIGVERIFY — as well as implementcanonical transaction ordering.
These proposals have been met with strong resistance by Wright and Ayre, who have argued that, among other things, these opcodes could lead to “unlicensed gambling” since they can be used to implement “oracle” services such as those that make decentralized prediction markets possible. Ayre, incidentally, made his fortune through an online gambling empire, though it is Wright in particular who has used this as an argument against these opcodes.
According to nChain, Bitcoin SV will be based off BItcoin ABC v0.17.2, and its development will be led by BitcoinJ-Cash developer Daniel Connolly. The firm plans to have the SV codebase ready for a full security audit in mid-October.
Featured Image from Shutterstock
The postSatoshi’s Vision: Craig Wright to Launch BCH Node to ‘Restore Original Bitcoin Protocol’appeared first onCCN. || Bitcoin Magazine’s Week in Review: Rejections and Reflections: This week in the industry, we saw the gears of government and regulation grinding, we check in on some mining news and we take a moment to reflect on the state of the market and industry innovation. Here are some ofBitcoin Magazine’s top bitcoin, blockchain and cryptocurrency news stories for the week.
Stay on top of the best stories in the bitcoin, blockchain and cryptocurrency industry.Subscribe to our newsletter here.
Not a Done Deal: U.S. SEC “Will Review” Most Recent ETF Decisions
China Blocks Access to Over 120 Offshore Digital Currency Exchanges
WeChat Shuts Down Numerous Crypto Media Accounts
Top Crypto Exchanges Join Winklevosses’ Self-Regulatory Organization
This Wednesday, the United States Securities and Exchange Commission released orders on nine bitcoin exchange traded fund (ETF) proposals. Each of the three orders, like those that preceded them,shot downall of the ETFs in question.
But these decisions, the SECrevealedthe next day, are now up for review. This development has offered a glimmer of hope for the industry in its slow-slog toward a bitcoin-backed, exchange-traded product.
In the march toward clearer crypto regulation in the States, exchanges have taken the lead in an attempt to quicken the pace. The Virtual Currency Association, a self-regulatory organization spearheaded by the Winklevosses and their Gemini exchange,added three new membersthis week. With these latest additions, the VCA continues to work toward its goal of “establishing an industry-sponsored, self-regulatory organization (SRO) to oversee virtual commodity marketplaces,” in advance of a summit to be held this September.
While the U.S. grapples with regulations and oversight for its own virtual currency markets, the Chinese government is looking to siphon its citizens’ access to crypto trading venues. Chinese officialsshuttered accessto over 120 offshore exchanges this week, an extreme measure to accompany thecomprehensive banit effected on domestic ICOs in September 2017.
Meanwhile in the private sector, WeChat is assisting the government with its crackdown. The number one messaging platform in Chinapurged crypto and blockchain media accountsfrom its services this week, citing the government’s policies toward ICOs as justification for the bans.
SoftBank Denies Reports of Bitmain Deal; Bitmain Still Silent
Mining Like a Viking: How the Fjords of Norway Offer a Greener Alternative
All eyes were on Bitmain this week, as public and media scrutiny continues to pick apart the details of the Chinese mining behemoth’s forthcoming public offering.
After reports surfaced last week claiming that Japanese telecom company Softbank and Chinese internet provider Tencent had invested in Bitmain via a private pre-IPO funding round, a handful of companies came forward this weekto deny their involvement.
In afeature article, Bitcoin Magazine’s Colin Harper took a trip to Norway to survey the work of Northern Bitcoin, a German mining company that has taken advantage of the abundance of renewable energy Norway’s fjords produce.
Situated in Lefdal Mine, a defunct mine turned data center in Måløy, the 3,250 miner strong ASIC mining farm operates at nearly half the electricity cost of its competitors and with zero CO2 emissions. It’s a reminder that, with the right infrastructure and a tinge of creativity, bitcoin mining can be more sustainable than its critics suggest.
New Research Claims Satoshi Mined Far Fewer Bitcoins Than Previously Thought
Op Ed: Making Friends With Time in the Cryptocurrency Space
Ever since Bitcoin developer Sergio Lerner presented compelling evidence on the topic in 2013, the Bitcoin community has assumed that Satoshi Nakamoto mined — and held on to — roughly 1,000,000 bitcoin during the network’s inaugural year.New evidencefrom Bitmex research, on the other hand, suggests that this figure may be in the ballpark of 600,000-700,000 BTC.
Finally, IOST CEO Jimmy Zhongreminds usof the importance of perspective in times of market anemia. These are the times, Zhong argues, that real growth can be realized, and that those who focus their efforts on development despite the downturn will be better for it when things start to look up again.
“Life is a long journey. We often say that choice is more important than effort. We also need to understand that desire and choices only pull through with persistence. I hope we can have faith in our common choice, the future of technology, the power of market cycles; remain unwavering in the face of swaying market sentiment; make independent and clear-headed judgments; and, together, build something people truly want,” Zhong writes.
This article originally appeared onBitcoin Magazine.
[Random Sample of Social Media Buzz (last 60 days)]
@btc_0 || @BTC_INFOCHAIN || @btc_update || ‘Lack Of Stability’ Among Factors Preventing Global Bitcoin Breakout, Says UBS Strategist https://cointelegraph.com/news/lack-of-stability-among-factors-preventing-global-bitcoin-breakout-says-ubs-strategist … #bitcoin || @BTC_INFOCHAIN || Price: $7,252.27
1h: -0.02%
24h: -0.29%
7d: 7.81%
Market Cap: $125,079,991,950.00
#Bitcoin #BTC || @btc_current || @btc_update || @Bitcoin_Stats || @eztechwin
|
Trend: no change || Prices: 6589.62, 6556.10, 6502.59, 6576.69, 6622.48, 6588.31, 6602.95, 6652.23, 6642.64, 6585.53
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2022-08-31]
BTC Price: 20049.76, BTC RSI: 36.58
Gold Price: 1712.80, Gold RSI: 35.13
Oil Price: 89.55, Oil RSI: 43.36
[Random Sample of News (last 60 days)]
Top cryptomining companies have nearly enough electrical capacity to power Houston: A handful of leading cryptocurrency miners have the electrical capacity equivalent to nearly every residence in Houston, Texas, according to data released by Democratic members of Congress on Friday. In a letter to Energy Secretary Jennifer Granholm and Environmental Protection Agency (EPA) Administrator Michael Regan, members led by Sen. Elizabeth Warren (D-Mass.) noted that leading cryptominers have developed more than 1,045 megawatts in mining capacity as of February. Companies that responded to the members’ inquiries included Riot Blockchain, Bit Digital, Bitdeer, Stronghold, Marathon and Greenidge. Following a crackdown on cryptomining by the Chinese government, mining operations have increasingly moved onshore in the U.S., according to the members. The U.S. share of global mining for Bitcoin, the largest cryptocurrency, increased from 4 percent in August 2019 to nearly 38 percent in January. The data divulged in the investigation also indicates the two biggest cryptocurrencies, Bitcoin and Ethereum, consume electricity at an annual rate exceeding that of the entire United Kingdom, which created nearly 80 million tons of carbon dioxide emissions last year. The power demands associated with mining also affect local customers, they wrote, citing a recent finding that mining added about $79 million to annual electric bills in upstate New York. “Our investigation suggests that the overall U.S. cryptomining industry is likely to be problematic for energy and emissions. But little is known about the full scope of cryptomining activity,” the lawmakers wrote. “Given these concerns, it is imperative that your agencies work together to address the lack of information about cryptomining’s energy use and environmental impacts, and use all available authorities at your disposal … to require reporting of energy use and emissions from cryptominers.” Warren and the other members said some of the cryptomining operations in question said that their operations were environmentally friendly, such as Greenidge, which claimed its facility has never run on coal under its ownership. Bit Digital, similarly, called its Niagara Falls operations “neatly carbon-free.” Story continues However, the members wrote, the companies in question continue to use massive amounts of electricity that could be directed elsewhere, and continue to generate large amounts of emissions. The Hill has reached out to the companies in question for comment. For the latest news, weather, sports, and streaming video, head to The Hill. || Texas Bitcoin miners are getting paid to shut down and give electricity back to the power grid: Temperatures in Texas shattered century-old records over the weekend as a blistering heat wave baked the Lone Star state under triple-digit heat. With temperatures reaching 110F in central Texas, the states grid operator issued a warning Monday that rolling blackouts were possible in coming days and urged consumers and industry to scale back power usage. Bitcoin miners, which flocked to Texas in 2021 after China banned the industry, have heeded the call. According to Lee Bratcher, president of Texas Blockchain Association, nearly all industrial scale Bitcoin mining operations in Texas have shut down their rigs as of Monday, Bloomberg reports , freeing up 1,000 megawatts of electricity to be redistributed by the grid. Bratcher says thats equal to 1% of Texass total grid capacity. Texan Bitcoin miners have powered down during previous crises, such as when a winter storm gripped the state in February. Reducing demand from power-hungry Bitcoin mines freed up power supply for more life-giving services, like heating. We are proud to help stabilize the grid and help our fellow Texans stay warm, Nathan Nichols, CEO of mining firm Rhodium, wrote on Twitter at the time. But miners arent switching off their rigs just to be altruistic; economic incentives are driving that decision. Grid operator the Electric Reliability Council of Texas (ERCOT) brokers "demand response" agreements that pay industries, including some Bitcoin miners, to downsize operations during times of peak demand to provide more energy to the grid. For Bitcoin miners, which can power on and off operations with the flip of a switch, taking ERCOTs payout rather than continuing to mine Bitcoin during times of tight power supply makes a lot of sense. Bitcoin mines are only profitable so long as the cost of the energy they use remains below the value of Bitcoin gained. That calculus is why miners seek out jurisdictions like Texas, where electricity prices are relatively low. But a weather-induced spike in demand across the grid inflates the cost of electricity and reduces profitability for Bitcoin miners. According to energy management service firm Voltus , a miner can generate up to 10% of its annual revenue by providing shutdown services to the grid. With Bitcoins value in a slump, it's probably better for miners to take the paid holiday and shut down while the sun is high. This story was originally featured on Fortune.com || Grayscale says XLM, ZEC and ZEN may be securities after SEC inquiry: In recent filings, the crypto asset management firm has said Stellar (XLM), Zcash (ZEC) and Horizen’s (ZEN) native cryptocurrencies may be securities. Grayscale was responding to questions from the U.S. Securities and Exchange Commission (SEC) regarding the company’s crypto trusts.
See related article:Grayscale sues SEC over spot Bitcoin ETF rejection
• In its filing in August, Grayscale stated for the first time that ZEC, ZEN and XLM “may currently be a security, based on the facts as they exist today,”Coindesksaid in a report.
• In its May and June filings, the digital asset manager mentioned that the SEC “has not provided any guidance as to the security status of” the three cryptocurrencies — a line which was omitted from the Aug. 16 filings.
• Grayscale may put its trusts involving these three cryptocurrencies on hold if the SEC determines them to be securities, as the trust business operates under the premise that they are not.
• ZEC, ZEN and XLM account for about US$40 million out of Grayscale approximately US$18.7 billion in assets under management from funds and trusts.
• The ongoinglegal battle between Ripple Labs and the SECalso underscores the legal uncertainty surrounding certain cryptocurrencies on whether they should be considered as securities or mere virtual currencies.
• Grayscale’s trusts provide cryptocurrency investment opportunities that investors can purchase with their brokerage accounts.
See related article:Siloed regulatory efforts unlikely to help bring oversight to highly decentralized crypto industry || Global physical oil market weakens as recession jitters mount: By Arathy Somasekhar, Noah Browning and Alex Lawler HOUSTON/LONDON (Reuters) - Physical oil prices around the world have begun to sag alongside futures, reflecting less alarm over Russian-led supply disruptions along with heightened worries about a possible global economic slowdown. "The market is very bearish at this moment. No one is in a hurry to buy," a Singapore-based trader said. Lower-than-usual U.S. gasoline demand during peak summer driving season and contracting factory activity in China indicate that high prices cut consumption in the world's top oil consumers, analysts and traders said. That is a stark contrast from last month, when physical market activity suggested buyers were more worried about securing supplies. The market for prompt oil supplies has slowed, traders told Reuters, with offers slumping for West African, North Sea, Mediterranean and Middle East crudes. Prices rose in the spring on fears Russia's invasion of Ukraine and Western sanctions would take millions of barrels off the market. That has not occurred, as Russian crude shipments are slightly above levels seen prior to the February invasion. "The market is coming off hard," one physical crude trader said. In West Africa, crude prices have dropped since hitting all-time highs in July. Offers for light, sweet Nigerian oil slipped $1.50 a barrel and comparable Ghanaian crude by up to $5 a barrel as European buying eased and refining margins dipped. Spot premiums for Oman crude hit their lowest level in over a month and Dubai is at its lowest since late May. North Sea Forties also plumbed depths last seen in nearly three months while Azeri BTC crude oil hit levels not seen since the end of last year. Chinese state refiners and South Korean refiners may buy as prices become attractive, but weak margins on lower demand has reduced their purchasing power. In Asia, spot premiums for U.S. grades have halved with WTI Midland now trading around $7-$8 per barrel over Dubai. Cheaper U.S. grades are pressuring locally preferred crudes with Murban trading about $7.80 above Dubai quotes compared to $12 above last month. Story continues DIESEL DEMAND There are still some scattered indications of strong demand. Refining margins for distillates worldwide remain relatively robust, and there has been eager demand for discounted Russian oil in some Asian markets. Russian exports as of Aug. 9 were 400,000 barrels per day, more than immediately before its Feb. 24 invasion of Ukraine, according to J.P. Morgan data. "Russian supplies are going to stay around for at least the near future, and the idea of a price super-cycle is now very unlikely," said a second physical crude trader. Crude futures hit $140 in March but have retreated well below $100 a barrel with U.S. futures around $92 and Brent around $97. U.S. gasoline demand is about 5% lower on a four-week average since summer driving season began, based on data from the U.S. Energy Information Administration (EIA). Backwardation - the premium at which futures are traded in later months - for both Brent and U.S. oil has dropped from record highs in March to its narrowest since April. That implies prompt supply is less tight. The Brent crude six-month spread has narrowed to $5.27 a barrel, its lowest since April. (Graphic: Brent futures curve flattens as supply worries cool, https://graphics.reuters.com/OIL-OUTLOOK/lbvgnalrxpq/chart.png) "The super-backwardation is disappearing before our eyes here," said Robert Yawger, director of energy futures at Mizuho Securities. Traders who employ spread-trading strategies have been selling spreads and flattening the forward price curve, said Clay Seigle, director of global oil at Rapidan Energy Group. "Two things have changed since backwardation was at its steepest: fears that Russian oil would disappear quickly have eased, and confidence about the strength of the global economy has slumped," Seigle added. Storage has built at the main U.S. crude oil hub for six straight weeks after touching multi-year lows last month. (Reporting by Arathy Somasekhar in Houston, Noah Browning and Alex Lawler in London, and Muyu Xu in Singapore; Editing by David Gregorio) || Pakistan Says Concerns ‘Overblown’ as Rupee Drops Most Since ‘98: (Bloomberg) -- Pakistan will meet its elevated funding needs comfortably with the International Monetary Fund bailout remaining on track, the central bank said, even as the rupee completed its biggest weekly plunge since 1998. 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 Three Arrows Founders Break Silence Over Collapse of Crypto Hedge Fund VW Billionaire Clan Plotted CEO Ouster as He Was on US Trip The South Asian nation needs a total $33.5 billion in the year through June 2023, while available financing stands at $35.9 billion for the period, according to a presentation State Bank of Pakistan’s Acting Governor Murtaza Syed made to foreign investors this week, a copy of which was seen by Bloomberg. The nation’s currency has lost 8.3% this week, as the IMF’s expected loan is seen as insufficient to avert a default. “Concerns about Pakistan are being unfairly overblown,” Syed told Bloomberg in emailed comments late Thursday. “The recently secured staff-level agreement on the next IMF review is a very important anchor that puts a lot of daylight between Pakistan and more vulnerable countries.” Pakistan’s stocks are the worst-performing in Asia and its dollar bonds and rupee are hitting fresh record lows, as the nation has a $1 billion bond payment due in December but owns foreign-exchange reserves enough to cover less than two months of imports. Renewed political turmoil at home and high global energy prices are roiling the South Asian nation, triggering concerns of the region’s next default after Sri Lanka. Pakistan’s Khan Demands Early Polls After By-Election Win (1) The IMF staff has agreed to disburse $1.2 billion to Pakistan but this is pending final board approval and Bloomberg News reported that the multilateral lender is seeking assurances that Pakistan’s bilateral allies will follow through with funding commitments. Story continues “The staff-level agreement increases the likelihood of servicing debt, but it’s not a done deal,” wrote Ankur Shukla and Ziad Daoud, economists at Bloomberg Economics. “Political volatility could also put the agreement, and the country’s credit status, at risk,” they said. While the nation’s gross funding needs are higher than most peer countries, it is less vulnerable due to ongoing IMF support compared with high-risk emerging markets, according to the central bank presentation. Among those, the external financing needs are much smaller than high-vulnerability countries, said Syed. Pakistan’s external debt of $95 billion is also low, predominantly held by the public sector and mainly sourced from concessional multilateral and bilateral sources, the central bank said. “Pakistan is being unfairly branded with other countries that are much more vulnerable,” said Syed. “This is because there is little discrimination between countries in the current times of panic across markets, which are responding in a broad-brush way to the global commodity super cycle, unprecedented Fed tightening, and geopolitical tensions.” 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. || 7 Best Cash Cow Stocks to Buy for Stable Returns: Investors seeking shelter from the market selloff are looking for some of the best cash cow stocks. Such a move is not surprising given that robust cash flow becomes more even valuable during economic downturns. For instance, thePacer US Cash Cows 100 ETF(BATS:COWZ) is currently down 6.6% year-to-date (YTD) compared with the 17% loss for theS&P 500index. The fund has seen assets under management skyrocket from $1.3 billion at the start of 2022 to the current $5.9 billion.
Amid the market volatility and interest rate hikes, investors are increasingly focused on businesses with strong cash flows and healthy balance sheets. These firms typically boast positive earnings and generate more cash than they need to run the business.
Moreover, they often have flexibility for continued dividend payments and stock repurchases despite macroeconomic headwinds. In addition, the market selloff provides these cash cow stocks with buying opportunities to invest in new growth opportunities at attractive valuations.
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With that information, here are seven of the best cash cow stocks that could gain traction in the rest of the year:
[{"Ticker": "AZO", "Company": "AutoZone, Inc.", "Price": "$2,140.74"}, {"Ticker": "BMY", "Company": "Bristol-Myers Squibb Company", "Price": "$73.04"}, {"Ticker": "CSCO", "Company": "Cisco Systems, Inc.", "Price": "$44.54"}, {"Ticker": "KLAC", "Company": "KLA Corporation", "Price": "$355.04"}, {"Ticker": "KR", "Company": "The Kroger Co.", "Price": "$46.22"}, {"Ticker": "MCK", "Company": "McKesson Corporation", "Price": "$331.33"}, {"Ticker": "MRNA", "Company": "Modern, Inc.", "Price": "$164.92"}]
Source: Robert Gregory Griffeth / Shutterstock.com
• 52-week range: $1,503.30 – $2,267.40
Our first cash cow stock isAutozone(NYSE:AZO), a leadingretailer and distributorof automotive replacement parts and accessories. The auto shop operates in the U.S., as well as in several Latin American countries.
AZO announcedthird quarter (Q3) financialson May 24. Revenue increased 5.9% year-over-year (YOY) to $3.9 billion. Diluted earnings per share (or EPS) increased 9.6% YOY to $29.03, up from $26.48 for the prior-year quarter. Cash and equivalents ended the period at $263 million.
The chip shortage plus as inflation have led to soaring prices in both new and used vehicle markets. Due to rising prices, people keep their cars longer, offering tailwinds for retail parts suppliers. Domestic same-store sales increased by 2.6% YOY. The gross margin for the quarter stood at a robust 51%.
According to a recentupdate, the market size for auto parts stores is expected to grow by 2.6% YOY to $73.6 billion in 2022. Wall Street expects Autozone to benefit from this expansion.
AZO stock is up about 3% YTD and 40% over the past year. Shares are changing hands at 17.1 times forward earnings and 2.9 times sales. Meanwhile, the 12-month price forecast for AZOstands at $2,250.
Source: Piotr Swat / Shutterstock.com
• 52-week range: $53.22 – $80.59
Next up is the biopharma heavyweightBristol-Myers Squibb(NYSE:BMY). Its drugs and therapies mainly focus on cardiovascular, oncology, and immune disorders.
On Apr. 29, Bristol-Myers SquibbreleasedQ1results. Total revenues came in at $11.65 billion, representing an increase of 7% YOY adjusted for foreign currency. Adjusted EPS grew 13% YOY to $1.96, up from $1.74 a year ago. Cash and equivalents ended the quarter at $12.37 billion.
The pharma group’s top line growth was driven primarily by in-line products Eliquis and Opdivo. Revenues for Eliquis and Opdivo grew by 11% and 12%, respectively. In addition, new product portfolio revenues more than doubled to $350 million YOY, driven by higher demand for Abecma, Breyanzi, and Reblozy.
Meanwhile, the Food and Drug Administration (FDA) recentlyapprovedBristol-Myers Squibb’s CAR T cell therapy Breyanzi for relapsed or refractory large B-cell lymphoma (LBCL). Wall Street will be watching how this approval can contribute to sales.
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So far in 2022, BMY stock is up over 20% and supports a hefty 2.9% dividend yield. Shares are trading at 10.1 times forward earnings and 3.6 times sales. Wall Street’s 12-month median price forecast for Bristol-Myers Squibbstands at $82.
Source: Ken Wolter / Shutterstock.com
• 52-week range: $40.82 – $64.28
Networking solutions leaderCisco Systems(NASDAQ:CSCO) is our next cash cow stock. Metricssuggestin the ethernet switch and router market, Cisco’s market share is close to 40%.
The tech giantreported Q3 financialson May 18. The $12.8 billion revenue was flat YOY. However, adjusted EPS grew 5% YOY to 87 cents. Cash and equivalents ended the quarter at $20.1 billion. Cisco benefited from solid demand with product order growth up 8% YOY. Total annualized recurring revenue grew 11% YOY to $22.4 billion. Product backlog ended the period at more than $15 billion. Management projects total revenue for the fiscal year 2022 to grow 2% to 3% YOY.
In mid-June, Cisco announced Panoptica and Calisti, the latest additions to Cisco’s suite of API-first solutions, which “remove barriers to enterprise automation, increase productivity, help shorten sales cycles, and reduce operating expenses.”
CSCO shares are down about 32% YTD, offering a robust dividend yield of 3.5%. Shares are trading at 12 times forward earnings and 3.5 times sales. Analysts’ 12-month price forecast for Ciscostands at$52.
Source:via KLA-Tencor
• 52-week range: $282.83 – $457.12
KLA Corporation(NASDAQ:KLAC) offers crucial process control and yield management solutions for the semiconductor industry. The company is the market leader worldwide in process control equipment. Its customers rely on KLA’s products to scans wafers and semiconductors to catch imperfections during semiconductor production. Given the number of steps required to manufacture advanced semiconductors, process control is critical.
Management issuedQ3 metricson Apr. 28. Revenue came in at $2.29 billion, up 27% YOY. Adjusted net income jumped to $5.13 per diluted share, up from $3.85 a year ago. Cash and equivalents ended the period at $1.42 billion.
Wall Street has been impressed with the continuous growth in KLAC’s revenue for the past seven years. The shift to 3 nm nodes in the industry has become a key growth driver.
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So far in 2022, KLAC stock is down 17%. Shares look too cheap for a highly profitable growth stock at just 12.3 times forward earnings and 5.2 times sales. Meanwhile, the dividend yield currently stands at 1.35%. The 12-month median price forecast for KLA stockstands at $392.50.
Source: Jonathan Weiss / Shutterstock.com
• 52-week range: $37.26 – $62.78
Prominent grocer nameKroger(NYSE:KR) operates more than 2,700 supermarkets and 1,600 gas stations under several banners. Its market share stateside isaround 8%.
The food retailer announcedQ1 resultson Mar. 3. Revenue increased 8% YOY to $44.6 billion. Kroger increased its adjusted EPS by 22% YOY to $1.45, compared to $1.19 in the prior-year period. Cash and equivalents ended the period at $1.38 billion.
Despite rising supply-chain costs,its strategyof “LeadingWith Fresh and Accelerating With Digital”has allowed the retailer to remain highly competitive. Same-store sales, excluding fuel, increased by a robust 4.1%. Adjusted operating profit soared 16.4% YOY to $1.6 billion.
Meanwhile, management raised its annual dividend by 24% from $0.84 to $1.04. Kroger boasts 16 consecutive years of dividend increases and currently supports a 2.1% dividend yield.
KR stock is up nearly 8% YTD. It sells at a discount to its peers at 12.3 times forward earnings and just 0.25 times sales. The 12-month median price forecast for Kroger stockis $54.
Source: JHVEPhoto / Shutterstock.com
• 52-week range: $186.61 – $339.94
Our next cash cow stock isMcKesson(NYSE:MCK), a leading healthcare services company. It distributes pharmaceuticals and medical supplies. It additionally provides data as well as technology solutions. Its market shares stateside is wellover 7%.
MCKissuedQ4resultson May 5. Revenue grew 12% YOY to $66.1 billion. Adjusted diluted EPS increased 15% to $5.83, up from $5.05 in the prior-year quarter. Free cash flow for the fiscal 2022 year stood at $3.9 billion. Cash and equivalents ended the period at $3.53 billion.
In 2021, the company announced a planned exit from the European market. Management is focused on improving productivity through automation and robotics, especially in its distribution business.
Meanwhile, in late June, McKesson andHCA Healthcare(NYSE:HCA)announcedan agreement to form a joint venture combining McKesson’s U.S. Oncology Research and HCA Healthcare’s Sarah Cannon Research Institute.
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MCK shares are up more than 30% YTD and 71% over the past year. Forward price-to-earnings and price-to-sales metrics are 14.1x and 0.2x, respectively, indicating fair pricing. Wall Street’s 12-month median price forecast for the healthcare playstands at$375.
Source: diy13 / Shutterstock
• 52-week range: $115.61 – $497.49
The final cash cow stock on our list is the biotech nameModerna(NASDAQ:MRNA), which has become a household name with its Covid-19 vaccine. It is also focused on developing messenger RNA therapeutics and vaccines for infectious, cardiovascular, and immuno-oncology diseases.
ModernareleasedQ1resultson May 4. Revenue jumped 321% YOY to$6.1 billion, driven by sales of itsSpikevax coronavirus vaccine. Diluted EPS more than tripled YOY to $8.58 per share, up from $2.84 a year ago. Cash and equivalents ended the year at $19.3 billion.
While Moderna has other promising pipeline candidates, for now it is dependent on coronavirus vaccine revenues. In the months ahead, Moderna hopes to gain an additional supply deal for its omicron booster with the U.S. government.
Meanwhile, Moderna recently announced an agreement with the British government to establish an mRNA Innovation and Technology Center in the U.K. This vaccine manufacturing facility should offer pandemic response capabilities through vaccine development.
So far in 2022, MRNA stock is down 32%. Shares are changing hands at 6 times forward earnings and 2.85 times sales. The 12-month price forecast for Modernais $199.
On the date of publication, Tezcan Gecgil, Ph.D., did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines.
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The post7 Best Cash Cow Stocks to Buy for Stable Returnsappeared first onInvestorPlace. || HIVE Announces RSU and Option Grants: HIVE Blockchain Technologies Ltd. VANCOUVER, British Columbia, Aug. 26, 2022 (GLOBE NEWSWIRE) -- HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (Nasdaq:HIVE) (FSE:HBFA) (the “Company” or “HIVE”) announced that the Board of Directors has approved the grant of 415,200 incentive stock options (“Stock Options”) exercisable into the equivalent amount of common shares of the Company at a price of C$5.66 per share for a period of five years. The grants were made to employees, officers and consultants of the Company and are subject certain vesting requirements. The Company’s Board of Directors has also approved the grant of an aggregate of 1,425,280 restricted share units (“RSUs”) to employees, officers and consultants of the Company which vest over 24 months. Each vested RSU entitles the holder to receive one common share of the Company. These grants were made to appropriately reward the previous and ongoing contributions of the recipient employees, officers and consultants and to encourage them to continue contributing significantly to HIVE’s success in future. Prior to the grants, the Company had approximately 82.2 million issued and outstanding common shares, approximately 2.8 million stock options, and 54,600 RSU’s. All grants of Stock Options and RSU’s are subject to the Company’s Stock Option Plan and Restricted Share Unit Plan which were re-approved by shareholders at HIVE’s 2021 annual meeting of shareholders on December 21, 2021. 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. Story continues 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 information about continued adoption of Ethereum and Bitcoin globally; the potential for the Company’s long term growth; the business goals and objectives of the Company, and other forward-looking information includes but is not limited to 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 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, or at all; a decline in digital currency prices may have a significant negative impact on the Company’s operations; the volatility of digital currency prices; and other related risks as more fully set out in the Annual Information Form of the Company dated July 19, 2022 and other documents disclosed under the Company’s filings at 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 ability to realize operational efficiencies going forward into profitability; profitable use of the Company’s assets going forward; the Company’s ability to profitably liquidate its digital currency inventory as required; historical prices of digital currencies and the ability of the Company to mine digital currencies will be consistent with historical prices; and there will be no regulation or law that will prevent the Company from operating its business. 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. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law. || FDIC sends cease and desist letter to FTX US, four others over insurance statements: The Federal Insurance Deposit Corporation is trying to snuff out claims the agency is backstopping customer funds held in certain crypto or stock brokerage accounts. The FDIC said Friday it issued cease and desist letters to five companies accused of making “misleading” statements about whether crypto assets have federal deposit insurance support. Among them were Cryptonews.com, Cryptosec.info, SmartAsset.com, FDICCrypto.com and U.S.-based exchange FTX US, which offers crypto and stock brokerage services to American customers. The entrance to the Federal Deposit Insurance Corporation (FDIC), located across the street from the Eisenhower Executive Office Building, is viewed on June 6, 2017 in Washington, D.C. (Photo by George Rose/Getty Images) (George Rose via Getty Images) According to the FDIC letter sent to FTX US, Brett Harrison, the company's president crossed the line with a tweet published on July 20 which stated: “Direct deposits from employers to FTX US are stored in individually FDIC-insured bank accounts in the users’ names,” and that “stocks are held in FDIC-insured and SIPC-insured brokerage accounts.” “In fact, FTX US is not FDIC insured, the FDIC does not insure any brokerage accounts, and FDIC insurance does not cover stock or cryptocurrencies. The FDIC only insures deposits held in insured banks and savings associations (insured institutions), and FDIC only protects against losses caused by failure of insured institutions,” the letter to FTX US said. In a public statement , FTX’s Harrison said he deleted the tweet adding: “We really didn’t mean to mislead anyone, and we didn’t suggest that FTX US itself, or that crypto/non-fiat assets, benefit from FDIC insurance. I hope this provides clarity on our intentions.” Per the FDIC’s instruction I deleted the tweet. The tweet was written in response to questions raised on twitter regarding whether direct USD deposits from employers were held at insured banks (i.e. Evolve Bank). — Brett Harrison (@Brett_FTX) August 19, 2022 By law, the FDIC only insures banking deposits such as cash and cash equivalents held in checking, savings, and money market accounts with FDIC-insured banks. Story continues That mean the corporation doesn’t insure funds held in bonds, stocks, mutual funds, commodities, or crypto assets, according to the FDIC . The issue of whether customer losses are covered in the event of failure has bubbled up following recent bankruptcies in the crypto space that saw lenders, including Voyager and Celsius, freeze customer accounts. Coinbase also added a disclosure in its 10-Q filed with the SEC in May that subject to a bankruptcy, customer funds could belong to the indebted firm’s estate. Voyager Digital and Celsius Network are set to test this point after filing for bankruptcy last month. Last month, the FDIC sent a similar warning letter to Voyager Digital, stating that the embattled firm had misrepresented the FDIC’s reach in claims through its website, mobile app, and social media accounts “stating or suggesting” that because Voyager was FDIC-insured, customers who invested on Voyager’s platform would receive FDIC insurance coverage on their funds. Around $270 million in cash deposits held by Voyager Digital’s partner bank, FDIC member Metropolitan Commercial Bank, were released earlier this month . — Click here for the latest crypto news, updates, values, prices, and more related to Bitcoin, Ethereum, Dogecoin, DeFi and NFTs Read the latest financial and business news from Yahoo Finance Download the Yahoo Finance app for Apple or Android Follow Yahoo Finance on Twitter , Facebook , Instagram , Flipboard , LinkedIn , and YouTube || Former Sephora employee confesses what shoppers should avoid doing at stores: 'Thank you for telling us': A former Sephora employee revealed all the secrets she learned while working there. Bitcoin vs. gold: Which is the better inflation hedge? There are a few things TikToker Sarah Palmyra will never do at Sephora again. While she says she “absolutely loved” her time at the store and had an “amazing experience,” not everything was perfect. Here’s what you should avoid the next time you head to the beauty store. Symone reflects on the epic year she's had since winning "RuPaul's Drag Race": “Here’s some things I will no longer do after having worked at Sephora,” she explained . “I will no longer use the makeup remover or the makeup removing cotton rounds on my face.” Palmyra said she was responsible for changing the makeup remover and cotton rounds at the store. The responsibility wasn’t high on the priority list, so the staff never bothered to clean up the containers. “I don’t know what it is about the fluorescent lighting in Sephora,” she said . “I will no longer buy a foundation as soon as I’ve been color-matched in-store without going outside first.” The lighting throws off any color-matching done in-store, so be sure to check if it’s the correct shade in natural light. Palmyra also added that the sample-sized minis are just not worth the price. “OMG thank you for telling us about the cotton rounds,” a user wrote . “I’m always incorrectly shade matched,” a person commented . “Since I no longer work at Sephora, I will no longer step foot in there,” someone said . “Thank for the lighting one! I always say the lighting is terrible in there and come out with a terrible foundation,” another added . “The only thing I can say about the minis- is they ARE good value if you take forever to finish products / have a ton of stuff you’re working through,” a TikToker replied . Euphoria' star Angus Cloud shares fun facts about himself in a game of IYKYK: The post Former Sephora employee confesses what she’ll ‘no longer do’ while cosmetics shopping after working there appeared first on In The Know . Story continues More from In The Know: The 5 best machine-washable doormats that blend fashion and function — Ruggable, Amazon and more Therabody is having a rare sale on its Theragun massage devices, recovery boots and more Nordstrom is now selling ICEE machines for some reason 6 personal-size blenders perfect for dorm rooms and first apartments || Lawsuit claims Mark Cuban and the Dallas Mavericks 'duped' customers into investing with the now-bankrupt crypto platform Voyager Digital, resulting in $5 billion in losses: Dallas Mavericks owner Mark Cuban watches players warm up before the start of an NBA basketball game against the Miami Heat, Friday, Feb. 28, 2020, in Miami. AP Photo/Wilfredo Lee A group of investors claimed Mark Cuban and the Dallas Mavericks duped them into investing in a "Ponzi scheme," according to a lawsuit. The suit claims Voyager Digital, a crypto trading platform, was "built on false promises." The lawsuit claims 3.5 million Americans have lost more than $5 billion as a result. A group of disgruntled investors claimed in a new lawsuit that Mark Cuban and the Dallas Mavericks allegedly duped them into putting money into what the suit says is a "massive Ponzi scheme." The proposed class action suit claims that Voyager Digital's CEO Stephen Erlich, along with Cuban and the Dallas Mavericks NBA team, which Cuban owns, "went to great lengths" to dupe millions of Americans into investing in Voyager's now-bankrupt crypto trading platform. Voyager entered into a 5-year partnership with the Mavericks last year and once ran a promotion where fans would receive $100 in Bitcoin if they deposited $100 of their own money into the crypto trading app. "I think working together, we're going to be at the forefront of innovation," Cuban said of Voyager at the time. The lawsuit claims that Cuban, Erlich, and the Mavs' promotion of the Voyager platform built on "false promises" have resulted in 3.5 million Americans collectively losing more than $5 billion. The suit seeks to hold them responsible for paying those Americans back. However, this case is not guaranteed to go to trial. A judge first has to certify that the 12 representatives named in the lawsuit are representative of more than 3 million Americans, according to Jason Gottlieb, a partner at Morrison Cohen who specializes in cryptocurrency litigation. At least one legal expert thinks the one class action suit representing millions of Americans may not be suitable. "US courts, particularly federal courts but also state courts, have gotten more skeptical over the years about the appropriateness of allowing essentially in a single action ... representation of a very large number of people," said Deborah Hensler, a Stanford Law professor who specializes in class action lawsuits. Story continues Voyager Digital officially filed for bankruptcy in early July. The company had gotten caught up in the recent crash of cryptocurrency prices , resulting in a contagion effect that led to the insolvency of multiple billion-dollar crypto companies. The crypto broker is a publicly traded company and was listed on the Toronto Stock Exchange until last month when it voluntarily delisted from the exchange. As a publicly traded company, it would have had to comply with certain financial disclosure requirements, as do all public companies. Mark Cuban, the Dallas Mavericks, and Voyager Digital declined to provide a comment to Insider for this story. The proposed class action suit comes amid a rise in cryptocurrency-related lawsuits as investors burned by losses seek to recoup some lost money. Gottlieb says he has seen an uptick in crypto-related litigation in the past few months. "Any regular-world company that suffers big losses may be likely to attract the attention of plaintiff's lawyers, and crypto companies are no exception to that. In an interesting way, it's a bit of a 'more money, more problems' type of situation," he said. Read the original article on Business Insider
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 20127.14, 19969.77, 19832.09, 19986.71, 19812.37, 18837.67, 19290.32, 19329.83, 21381.15, 21680.54
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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 2022-08-01]
BTC Price: 23314.20, BTC RSI: 56.75
Gold Price: 1769.00, Gold RSI: 55.47
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[Random Sample of News (last 60 days)]
Buy Snap Stock When There’s Blood in the Street: Snap(NYSE:SNAP) has seen the type of decline one rarely sees in a company that’s done as well as it has. Snap stock has fallen 84% from its all-time high, which came just nine month ago in September. This name has lived and died by its earnings reports.
In July 2021, shares erupted 24% on a strong report, then plunged 27% in October on earnings. The stock fell hard after management said it did not navigateApple’s(NASDAQ:AAPL) user-privacy changes that well.
Then as Snap stock was cratering in February — and on the heels of a bad report fromMeta(NASDAQ:META) — shares rose 59% on strong earnings, followed by a modest gain on earnings in April. Prior to that 1.1% gain, shares fell more than 20% in after-hours trading.
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While managementcalled it a “challenging” environment, they were optimistic. That optimism faded pretty quickly, as shares plunged 43% in a single day following anearnings and revenue update. Management said those metrics would come in below the low-end of the prior range given about a month ago, as “the macroeconomic environment has deterioratedfurther and fasterthan anticipated.”
Clearly, Snap’s management isn’t good for guidance or long-term outlooks! But that doesn’t make its business worthless.
[{"Ticker": "SNAP", "Company": "Snap", "Current Price": "$13.28"}]
Snap lost 2 cents a share last quarter. In the prior six quarters, the company turned in breakeven or better results. In the prior quarter — the one reported in February — Snap reported its first quarter of positive net income. Further, Snap became free cash flow (FCF) positive last year. On a trailing 12-month basis, the company has generated just $203 million in FCF. Last quarter alone, Snap generated more than $100 in FCF.
Further, daily active users (DAUs) increased 18% year-over-year to 332 million last quarter. Name another social media stock with 18% user growth right now.
Twitter(NYSE:TWTR) grew monetizable daily active users (mDAU) 15.9% in the quarter. But mDAU isdefined differentlythan DAU. Not to mention Twitter has the whole Elon Musk hoopla going on and had to restate its user growth after miscounting it for almost three years.
Snap is not perfect — clearly — but it’s still growing its user base.
Leaning on estimates is a dangerous thing to do — especially in this case — so I would take them with a grain of salt. However, analysts still expect Snap to be profitable this year and generate even more earnings in 2023. Expectations call for earnings to be halved this year versus 2021, but almost triple in 2023.
On the revenue front, analysts still expect 23% growth this year and an acceleration up to 36% growth in 2023. Estimates arequite optimisticfor 2024 and 2025, too. If they come to fruition — which is a big “if” — we’re talking about a company that did $4.12 billion in sales in 2021 to one that would be approaching $12 billion in 2025.
On the one hand, the future looks bright. Because it’s thefuturethough, it’s not guaranteed. On the other hand, we have the present, and in the present, we know there’s some deterioration. The question is, has that been priced into SNAP stock?
At the end of the day, Snap trades at a similar price-to-sales ratio as its peers (although it’s cheaper than Twitter). That said, it’s not as profitable as its peers, hence the price-to-sales ratio rather than price-to-earnings. When it comes to gross margins, it’s down near Twitter’s profile (in the 60% range) rather than up near industry leaders like Meta andPinterest(NYSE:PINS) (at or above 80%).
Again, we’ve established that Snap is not perfect. In a recessionary environment, that’s not good. Stocks are going to get sold in those environments and those without profits will suffer more than those that do. That’s a general rule of thumb. That said, it’s hard to deny the growth with Snap — both in regards to its users and its revenue. As its revenue continues to climb alongside free cash flow, the door to profitability opens up.
The question becomes this: After an 84% dip in Snap stock, is the risk worth it?
Click to Enlarge
Source: Chart courtesy ofTrendSpider
Aggressive bulls can be long on this current dip, but I’d keep a careful eye on the May 24 low at $12.55. A close below that level can start opening up more downside potential, like $10 or lower. Remember, this stock sank to $7.89 in March 2020. That’s not to say it will go there again, but in a bearish environment, who’s to say it won’t?
While that’s 91% below the high — just slightly worse than the 85% peak-to-trough drop Snap sports now — it would mean a 41% decline from current levels.
Outside of that setup, I would be dollar-cost-averaging below $10. That to me represents value in a long-term growth vehicle. On the upside, traders should keep an eye on $20, then on the $24 to $25 area.
On the date of publication, Bret Kenwell held a long position in PINS. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
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The postBuy Snap Stock When Thereâs Blood in the Streetappeared first onInvestorPlace. || Rising energy costs and plummeting crypto prices mean public bitcoin miners are 'fighting to survive': BTC Keychain Public bitcoin miners have lost 80% of their daily revenue, according to an Arcane Research analyst. Rewards for mining firms remain low, as bitcoin struggles to stay above the $20,000 threshold. As energy prices soar and bitcoin plummets, the weakest miners could be at risk of bankruptcy. Crypto exchanges aren't the only ones to struggle amid the wave of sell-offs. Public bitcoin miners are also suffering, having lost over 80% of their revenue since crypto's peak of last year, according to a report by Arcane Research. Daily revenue for public bitcoin firms sank to $18 million as of June, said analyst Jaran Mellerud, down from the high of $62 million a day in November. Stock prices for mining firms have seen a similar collapse, with miners like Stronghold and Terawulf losing nearly all of their market cap since crypto's peak. That's bad news, considering that many firms took out loans last year to finance new infrastructure for boosting mining operations when bitcoin demand was at its all-time high. According to CoinDesk, public mining firms hold at least $2.16 billion in debt that's in danger of default, unless firms make enough to pay off their holdings. "The public bitcoin miners are fighting to survive the ruthless bear market," Mellerud wrote in Arcane's report. "The weakest will die, but the survivors will rise from the ashes stronger than ever." He noted that there were multiple factors that would lead to the downfall of some firms. For one, energy prices have skyrocketed amid Western sanctions against Russia: US natural gas rose past $9 per million British thermal units this May, the most expensive gas has been since 2008. The rising cost of energy is also exacerbated by the fact mining requires more energy, which historically is the biggest cost for miners. Bitcoin's hashrate, a measure of the computer power used to mine bitcoin, has nearly doubled since July of last year due to increased competition, Arcane's report said. Story continues And the falling price of bitcoin means there are lower rewards for miners. As of 5:50 pm UTC, bitcoin hovered around $19,690. "Some miners may either go bankrupt or have parts of their assets purchased for cents on the dollar by stronger ones," Mellerud said. Meanwhile, rising interest rates also make it hard for mining firms to raise capital, he pointed out. "The plummeting operating cash flows and unwelcoming state of capital markets will make it challenging for these companies to scramble together the cash needed for their upcoming investments in new machines or loan repayments," Mellerud said, adding that the industry would continue to face losses unless bitcoin saw a price rebound in the near future. Read the original article on Business Insider || Second half begins with rally in stocks, fall in yields: By Caroline Valetkevitch NEW YORK (Reuters) - The second half of the year started with gains in global stock indexes on Friday ahead of the long U.S. holiday weekend, while the 10-year Treasury yield fell the most since COVID-19 hit markets in March 2020. Copper prices slumped to their weakest in 17 months. Stocks were lower early in the New York session but rallied late to end higher. U.S. markets will be closed Monday for the U.S. Fourth of July holiday. "It's a Friday before a long weekend, so market movements can be somewhat exaggerated," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. Cardillo said he expects stock market performance to improve overall in the second half of the year. "We're going to see more green days in the second half than we'll see red," Cardillo said. The U.S. benchmark S&P 500, which closed out its worst first-half since 1970 on Thursday, climbed 1.1%. MSCI's world stocks index, which on Thursday notched its biggest percentage decline for the first half of the year since its 1990 creation, rose 0.4%. The Dow Jones Industrial Average rose 321.83 points, or 1.05%, to 31,097.26, the S&P 500 gained 39.95 points, or 1.06%, to 3,825.33 and the Nasdaq Composite added 99.11 points, or 0.9%, to 11,127.85. The pan-European STOXX 600 index lost 0.02% and MSCI's gauge of stocks across the globe gained 0.39%. In Treasuries, yields tumbled as investors priced in the likelihood the Federal Reserve will force inflation down to near its target rate. The yield on 10-year notes tumbled 23.3 basis points from the open to the session's lowest point, before paring the decline, to end down 8.5 basis points at 2.889%. The two-year yield, which typically moves in step with interest rate expectations, slid 8.8 basis points to 2.839%. Both the two-year and 10-year yields were at roughly four-week lows. Data on Friday showed manufacturing production in the euro zone fell for the first time last month since the initial wave of the coronavirus pandemic in 2020, while inflation numbers hit another record high. Story continues In the United States, manufacturing activity slowed more than expected in June, with a measure of new orders contracting for the first time in two years, more evidence the economy was cooling amid aggressive monetary policy tightening by the Federal Reserve. Copper prices dropped as investors worried about a possible recession hitting demand for metals. Three-month copper on the London Metal Exchange had eased 2.6% to $8,047 a tonne after dropping to its lowest since early February 2021 at $7,955. Oil prices climbed amid supply outages in Libya and expected shutdowns in Norway, which offset worries that an economic slowdown could dent demand. Brent crude futures settled at $111.63 a barrel, rising $2.60, or 2.4%. U.S. crude settled at $108.43 a barrel, gaining $2.67, or 2.5%. The dollar was up on Friday, having just scored its best quarter since 2016. Pessimism about the global economic outlook boosted demand for the safe-haven U.S. dollar Friday while the Australian dollar, a proxy for global growth, fell to a two-year low. The dollar index gained 0.36% against a basket of currencies to 105.12. It is holding just below a 20-year high of 105.79 reached on June 15. The Australian dollar fell as low as 67.64 cents, the weakest since June 2020. Bitcoin, which suffered its biggest quarterly drop on record over the three months to the end of June, last fell 2.16% to $19,494.40. (Reporting by Caroline Valetkevitch; Additional reporting by Herbert Lash and Karen Brettell in New York; and Marc Jones in London and Tom Westbrook in Singapore; Editing by Sriraj Kalluvila, Will Dunham and Chris Reese) || Bill Gates Blasts Crypto, NFTs as Based on Greater-Fool Theory: (Bloomberg) -- Billionaire Bill Gates dismissed cryptocurrency projects such as nonfungible tokens as shams based on the greater-fool theory at a climate conference Tuesday, reviving past criticisms of digital assets. Most Read from Bloomberg US Futures Gain With European Stocks; Dollar Slips: Markets Wrap Putin May Win in Ukraine, But the Real War Is Just Starting Biden Says US Recession Avoidable After Call With Ex-Treasury Secretary Summers Housings Slowdown Has Economy on the Edge Putin Gets Unexpected Pushback From Ally Over War in Ukraine Obviously, expensive digital images of monkeys are going to improve the world immensely, Gates said sarcastically while speaking at an event in Berkeley, California hosted by TechCrunch. He said hes neither long nor short the asset class. Gates has criticized crypto before, sparring with Elon Musk last year over whether Bitcoin is too risky for retail investors and the environmental harm of mining coins. Speaking Tuesday as the founder of Breakthrough Energy Ventures, the climate-focused fund he began in 2015, Gates noted the difficulty of recruiting Silicon Valley engineers to work in industries like chemicals and steel production in need of lower greenhouse gas emissions. Bitcoin plunged more than 15% Monday and another 5.4% Tuesday, part of a broader crypto selloff fueled by higher than forecast US inflation and the halt of withdrawals by the lending platform Celsius. Popular NFT collections, including the celebrity-favored Bored Ape Yacht Club (BAYC), are also being hit hard. Gates also defended digital banking efforts hes supported through his philanthropic foundations, which he described as hundreds of times more efficient than cryptocurrencies. Michael Bloomberg, founder and majority owner of Bloomberg LP, is a backer of Breakthrough Energy Ventures. Most Read from Bloomberg Businessweek Ethereum Mining Is Going Away, and Miners Are Not Happy Hell Is a Cruise Ship at the Beginning of the Pandemic Sheryl Sandbergs Wedding Expenses Are the Least of Facebooks Sheryl Sandberg Problems Adults Who Love Toys? The Toy Industry Loves Them, Too ©2022 Bloomberg L.P. || Crypto Market Daily Highlights – June 8 – BTC, ADA, BNB, LINK, and XRP: • A bitcoin (BTC) slide back to sub-$30,000 before a partial recovery reflected investor sentiment as crypto headwinds linger.
• Inflation jitters returned, hitting the US equity markets, which spilled over to the crypto markets mid-week
• From the crypto top 10, Cardano (ADA) bucked the market trend, with sentiment towards the upcoming Vasil hard fork delivering support.
It was a mixed Wednesday session for thecryptomarket. Network news updates supported several cryptos, while the broader market suffered at the hands of inflation jitters.
After a promising start to the week, bitcoin (BTC) saw red for a second consecutive day. Significantly, bitcoin visited sub-$30,000 for eight days in a row before a partial recovery to $30,000 levels.
Once more, bitcoin correlation with the NASDAQ 100 was evident throughout the session. The NASDAQ 100 fell by 0.73%, with a spike in oil prices weighing on risk appetite.
From the chart below, bitcoin and the NASDAQ 100’s inverse correlation with WTI crude oil prices was also apparent in recent sessions. The markets are taking crude oil prices as a gauge for inflation.
On Wednesday, the total crypto market cap fell to a day low of $1,202 billion before steadying. Ending the day at $1,217 billion, another $24 billion came off, following a $14 billion decline on Tuesday. The two consecutive days of losses left the total market cap down for the current week.
On a trend basis, a bottoming out remains evident despite the pullback. However, a hold above the May 12 current-year low of $1,082 billion remains pivotal.
On Wednesday,ADArallied by 4.40% to lead the top ten majors. Outside of the top ten, Chainlink (LINK) slipped by 0.22% to consolidate Tuesday’s 9% breakout on LINK stakingnews.
The rest of the top ten saw red.
BTCfell by 3.0%, withBNB(-0.59%),DOGE(-1.36%),ETH(-1.17%),SOL(-1.29%), andXRP(-1.78%) also struggling.
While it was a bearish session for the broader market, the Loomis and Gillibrand bill could end the debate over whether altcoins are commodities or securities. The Bill asserts that “most digital assets are more like commodities than securities, meaning that cryptos would also fall under the purview of the CFTC and not the SEC.
Over 24 hours, total liquidations eased back from Wednesday levels but remained elevated. According toCoinglass, 24-hour liquidations stood at $158.58 million, down from $301.83 million at the same time yesterday. However, liquidations were up from sub-$100 million levels seen over the weekend.
1-hour liquidations suggested improving market conditions
At the time of writing, total liquidations over one hour stood at $2.05 million.
• A bipartisanbillbacked by Republican Cynthia Lummis and Democrat Kirsten Gillibrand would make the CFTC the crypto watchdog.
• Citadel Securitiesbuildsa crypto trading marketplace.
• Solanainvests$100 million in web3 starts-ups, focusing on gaming.
• Updates from the June 7 court-scheduled SEC-Ripple conferencefavoredRipple Lab.
• Ethereum passed its next milestone in migrating to a proof-of-stake protocol with the successfulmergeof the Ropsten testnet.
• The New York Department of Financial Services (NYDFS)publishedguidelines on the issuance of stablecoin.
Thisarticlewas originally posted on FX Empire
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• Biden says Republicans bullied by gun lobby during late-night show visit || Dating & Messaging on the Blockchain: Why We Need Privacy Services from Crypto: If there’s one service people are still willing to pay for in this economy…It’s their dating appsfromMatch Group(NASDAQ:MTCH) and its peers. But is there a better alternative for Tinder, Match.com, Hinge or OKCupid users…on the blockchain?
Source: TheVisualsYouNeed/ShutterStock.com
InaCointelegraphop/edyesterday, a crypto privacy startup called Session argues that blockchain services can be safer and more secure for online dating. Let’s see how they make the case… And the other use cases of privacy blockchain services that are setting up compelling investments today.
With our current setup, Web 2.0, a lot of your personal info passes through these apps. Not only do you need toprovide your phone numberto verify your identity to the app… After you’re matched, a common next step is to let the person call, text, or message you on social media, if they seem cool. Keyword: “seem.”
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Harassment is a constant problem online – particularly for women,60% of whomreported unwanted messages in a Pew Research survey. And the more of your “real” identity that goes online… The worse cyberstalking can get.
“Now, [users] can give a love interest theirSession IDinstead of a phone number or social media account, keeping those personal details private until they want to move to the next step,” suggests Session in theCointelegraphop/ed Monday.
Under our current privacy standards, people have been blackmailed using intimate photos and messages…“catfished” and scammed out of money by people who aren’t who they seem…suffered identity theft and had their devices/accounts compromised by malware. Yet online dating has been the typical way to find a partnerfor years now.
Even if you manage to avoid the creeps and jerks online… These dating platforms can still be hacked. And niche dating communities may be special targets for hackers who negatively judge its members – the wayAshley Madison wasa few years ago.
Of course, you don’t have to usejust anyapp to communicate with people online…romantically or otherwise. You can message people with an encrypted app like Signal – which has gone from20 million usersto40 millionin about a year as people have started to demand more privacy.
Because Signal usesend-to-end encryption, your message can only be read by your recipient…
But there are other ways to mess with users. And when a vulnerability was spotted in Signal in 2016,Hacker Newsnotedthat Signal’s popularity with “security professionals and privacy advocates” puts it “on the priority list of nation-state actors” to hack.
In that bug from 2016, cryptographers found that attackers could target large files passed on Signal “to modify a valid attachment by adding random data to it,”reportedArs Technica.
And the only reason this could have worked? Because Signal data passes through centralized servers – which attackers would have to “hack or impersonate” to exploit the bug.
TheBitcoin(BTC-USD) network, in contrast, is so decentralized thatit’s never been hacked. And Bitcoin becomes harder to hack with every “miner” that joins the network: There’s around70,000 of themworldwide, verifying network transactions to receive BTC.
Transactions on Bitcoin – and other public blockchains – are anonymous… But, it’s worth noting, they’reNOTprivate. Blockchain sleuths can identify you by your network-transaction trail, which ishow the Bitfinex thieves got caughtwith $3.6 billion of stolen bitcoin, for instance.
So, this is where blockchain privacy solutions come in: Take the benefits of decentralization, then layer on privacy features.
Plenty of blockchain projects are popping up to offer privacy features. Before we get into which ones – here’s the basic technology involved:
The original privacy blockchain,Monero(XMR-USD), uses ring confidential transactions and stealth addresses. Ring CTs “can be verified while only the sender and receiver see the amount being exchanged,”CoinDeskexplains. And the blockchain creates “one-time public keys for each transaction.”
Mix networkstake in data packets from different users, “mix” them together, and send them along in random order. That way, it’s harder to trace your transaction when you use a mixerlike Tornado Cash. The more people use them, the easier you can “hide in plain sight.”
Zero-knowledge proofsare more popular nowadays – but began with a 1985 paper co-authored by Silvio Micali ofAlgorand(ALGO-USD). ZK proofs can verify information on-chain, withoutcommunicatingthe information between parties.
ZK is kind of the new hotness in the New Digital World lately:Polygon(MATIC-USD), for one, “has made ZK a centerpiece of itsstrategic vision” for the past year “and has committed $1 billion to related projects.”
Polygon IDjust launched on June 23 with its first authentication service for Web3 that maintains privacy. Know how you can “Sign In With Google” on all these Web 2.0 sites and apps? What if you could do itwithoutsigning away all your info to Big Tech? Polygon says it’s possible with those zero-knowledge proofs we just talked about.
Next up: Polygon ID Wallet (for individuals) and Polygon ID Platform (for organizations). There’s alsoPolygon Nightfall 3, so businesses can transact onEthereum(ETH-USD) privately… Without the likes of Tornado Cash, which is popular with money-launderers – and which at least one security firm, Elliptic, saysit can crack.
Private messaging on the blockchain is brought to you on theOxen(OXEN-USD) chain, plus soon onNym(NYM-USD).
Oxen iswhere you’ll findSession (mentioned earlier), as well as Lokinet, which can host “Zoom Video on the blockchain” (privately), plus private browsing. The Oxen blockchain began as a “hard fork” of Monero, so it uses ring CTs and stealth addresses, too.
Nymuses that “mixnet” technology,with improvements. Like with Session, its developers are working to provide tech for private-messaging apps…as well as authentication services… and cryptocurrency transactions.Chelsea Manninghas been working with the project as security expert and privacy advocate.
Also in the “crypto transactions” category:Aztec Connect, where “Private DeFi comes to Ethereum for the first time ever,” according to its launch announcement on Thursday, July 7. Right now, using DeFi on any public blockchain is kind of like using Venmo in public mode. (Which even Venmogot rid of.)
Wouldn’t you want your transactions kept private, like in your bank account?ask proponents of private DeFi. Speaking of banks, though, it’ll be interesting to see how private DeFi can coexist with regulators –who are keen on bringingknow-your-customer (KYC) standards to crypto.
Then there’sBasic Attention Token(BAT-USD), whose blockchain is home to the Brave browser, which brings you“online privacy by default.”
If developers on Oxen, Nym, etc. hope to attract users to a privacy browser there… Brave already passed 50 million monthly active usersby January. That pales in comparison toChrome, Safari, or Firefox– but uniquely, Brave hascrypto incentivesto attract users:
“By default, the Brave Browser rips out all the creepy ads & trackers from every web page you visit. Then it gives you the choice to seeBrave Private Ads. If you do, you get rewarded with Basic Attention Tokens (BAT). If you don’t, that’s ok! The Brave Browser will always be free and private. Unlike Big Tech ads, Brave Ads don’t invade your privacy. Your data never leaves your device,” promises Brave.
If you do allow Brave Private Ads,they aren’t too intrusive, and they boast good engagement stats (since users can earn BAT tokens). This is how the company makes money – versus, say, cutting deals with search sites,like Mozilla Firefox does– along with price appreciation of the BAT crypto.
No matter how much users care about crypto, there’s another benefit of these privacy browsers: Your page loads faster without the ads (and ad trackers) inside them. BAT is a long-time pick in Luke Lango and Charlie Shrem’s portfolios, along with Polygon for theirCrypto Investor Network.We’ll be sure to keep you posted on the latest and greatest here inThe New Digital World,too.
On the date of publication, Ashley Cassell 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. To have more news from The New Digital World sent to your inbox,click here to sign up for the newsletter.
The postDating & Messaging on the Blockchain: Why We Need Privacy Services from Cryptoappeared first onInvestorPlace. || Crypto Market Daily Highlights – June 22 – Powell Sinks DOGE and ETH: Key Insights: After brief relief on Tuesday, volatility spiked on Wednesday, with Fed Chair Powell pulling the crypto strings. Dogecoin (DOGE), Ethereum (ETH), and Solana (SOL) joined bitcoin (BTC) in deep the red. Solana saw a five-day winning streak come to an end. The total market cap reversed gains from Monday and Tuesday, with a $33 billion fall to end the day at $862 billion. It was yet another choppy session for the crypto market on Wednesday. Recession fears plagued bitcoin ( BTC ) and the broader crypto market. Apprehension ahead of Fed Chair Powell’s testimony on Capitol Hill added to the market angst. The NASDAQ Mini 100, WTI crude oil, and the crypto market were in the red going into the afternoon session. Market sensitivity to Fed Chair Powell’s testimony was evident, not only across the global equity markets, but also across the crypto market. However, after tracking the NASDAQ 100 through the early part of the Powell testimony, a decoupling was evident later. On Wednesday, the NASDAQ 100 slipped by 0.15%, while bitcoin slid by 3.6%. WTI crude slid by 4.03% to $106.19, with the reversal more aligned with the crypto market and reflective of investor jitters over the risk of a US recession. NASDAQ BTC WTI 230622 5 Minute Chart Today, the second day of Fed Chair Powell’s testimony on Capitol Hill will draw interest along with key stats from the US. Economic data from the US include prelim June private sector PMIs and the weekly jobless claims. The numbers will need to be upbeat to support the Fed Chair’s view on labor market conditions and the economy. Crypto Market Cap Hits Reverse as Powell Talks Recession A bearish crypto session saw the total crypto market cap fall to a day low of $852 billion before a partial recovery to end the day at $861.5 billion. On Wednesday, $33 billion came off the table as investors responded to Fed Chair Powell’s testimony. Total Market Cap 230622 Daily Chart The pullback reversed modest gains from earlier in the week, with the market cap now down $19 billion for the week and $431 billion for June. Story continues Any market hope of Powell removing downside risks vanished on Wednesday. Initially, the market responded positively to early comments before hitting reverse. In line with market expectations, Fed Chair Powell discussed the need to continue hiking rates to bring inflation back to target. According to FX Empire , Powell noted , “We anticipate that ongoing rate increases will be appropriate; the pace of those changes will continue to depend on the incoming data and the evolving outlook for the economy.” For riskier assets, Powell’s reference to the influence of incoming data and the economic outlook on the Fed interest rate path eased immediate concerns of a hard landing. The support was brief, however, with the Q&A session highlighting the Fed’s threat to the US economy. Market reaction to the testimony left the top ten cryptos in negative territory. DOGE (-6.21%), ETH (-6.75%), and SOL (-6.25%) led the way down. ADA (-4.75%) and BTC (-3.63%) also struggled, while BNB (-2.64%) and XRP (-1.89%) saw relatively modest losses. From the CoinMarketCap top 100, Waves ( WAVES ) was the biggest loser, sliding by 15.39%, the downside partially reversing a 43.04% breakout from Tuesday. Several cryptos bucked the trend, with Polygon ( MATIC ) and Uniswap ( UNI ) among the front runners. MATIC and UNI ended the day with gains of 8.49% and 4.32%, respectively. Stablecoins Hold Steady Despite USDD Peg Issues On the stablecoin front, USDD avoided a fall to sub-$0.97 before striking a day high of $0.9762. USDD 7-Day Chart 230622 Since June 13, TRON DAO Reserve has yet to restore the dollar peg. Despite this, a partial recovery from a June 19 of $0.9256 remains good enough for the market. Transparency has proven to be the key, with initial investor fear of another stablecoin collapse abating. According to TRON DAO Reserve, the collateral ratio stood at 324.16%. USDD Collateral Ratio 230622 Looking at the major stablecoins, Binance USD ( BUSD ) and USD Coin ( USDC ) were the only coins with the dollar peg firmly in place. Total Crypto Liquidations Eased Further Back Powell’s Testimony The downward trend in total crypto liquidations continued into this morning. 24-hour liquidations slipped from a Wednesday $170.27 million to $165.11 million this morning. Last week, total liquidations had hit $1 billion levels. One-hour liquidations reflected improved market conditions. According to Coinglass , one-hour liquidations stood at $2.05 million. Total Crypto Liquidations 230622 A decline in 24-hour total liquidations to sub-$100 million would deliver crypto market support. Persistent headwinds, including the threat of an economic recession, will continue to test support cryptos. Daily News Highlights Crypto.com obtained Singapore regulatory approval for payment services. Citibank & Swiss company METACO announced plans to develop institutional crypto custody. Israel and Hong Kong reported plans to test new digital currencies. Tether ( USDT ) announced its fifth stablecoin offering, the GBPT. Cardano (ADA) slumped on news of a delay to the Vasil hard fork. Crypto mining became more accessible as miners sold graphic cards at heavy discounts. This article was originally posted on FX Empire More From FXEMPIRE: Wildfire in southwest Turkey rages on, dashing hopes it was contained Maxwell deserves 30- to 55-year prison term – U.S. prosecutors As Russia cuts gas, German industry grapples with painful choices Australian state inquiry says miners failed to protect women E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – ‘Possibility’ of Recession Capping Gains Dollar languishes as recession fears mount; yen bounces while won slides || US stocks fall to start the 3rd quarter as Fed forecast suggests a recession is already here: • US stocks kicked off the third quarter with more losses on Friday as recession concerns continue to rise.
• The US may already be in a recession based off of the Federal Reserve's most recent GDPNow forecast.
• US GDP growth fell 1.6% in the first quarter, and now the Fed forecasts a Q2 decline of 1.0%.
US stocks kicked off the third quarter on Friday adding to losses from the first half of the year, as investor concerns about a coming recession continue to rise.
And there's cause for concern, as the Fed's most recent GDP forecast suggests that America may already be in a technical recession, which is defined as two consecutive quarters of negative GDP growth.
The Federal Reserve Bank of Atlanta's GDPNow forecastlowered its second-quarter GDP growth estimateto negative 1.0% this week, which would follow the first quarter's GDP growth decline of 1.6%. If the Fed's forecast is accurate, investor concerns will shift to how long and deep the recession is from debating whether one will even arrive.
Here's where US indexes stood shortly after the 9:30 a.m. ET open on Friday:
• S&P 500:3,778.90, down 0.17%
• Dow Jones Industrial Average:30,741.84, down 0.11% (33.59 points)
• Nasdaq Composite:10,958.36, down 0.64%
Michael Burry of "The Big Short" believes that the market's current 20% declineis only half-way done, as the famed investor now expects a considerable decline in earnings results from companies.
Adjusted for inflation, 2022 first half S&P 500 down 25-26%, and Nasdaq down 34-35%, Bitcoin down 64-65%," Burrytweetedon Thursday. "That was multiple compression. Next up, earnings compression. So, maybe halfway there."
A decline in interest rates flowed through to mortgage rates this week, with the 30-year fixed mortgage falling to 5.7%, according to data from Freddie Mac. That declinehelped push lumber prices higher by more than 7%on Thursday.
Russian president Vladimir Putin has moved toseize control of the Sakhalin-2 oil and gas project, threatening to push out major foreign players includingShell. The move could put continued upside pressure on gas prices going forward.
West Texas Intermediate crudeoil rose as much as much as 2.56% to $108.38 per barrel.Brent crude, oil's international benchmark, jumped as much as 2.39% to $111.64.
Bitcoin fell 2.00% to $19,321. Ether prices fell 0.11% to $1,052.
Goldfell as much as 0.80% to $1,792.80 per ounce. The yield on the 10-year Treasury fell 8 basis points to 2.89%.
Read the original article onBusiness Insider || Bitcoin price surges 20%, Ethereum up 50% ahead of historic event: Bitcoin and Ethereum led a market-wide resurgence beginning in mid July (Getty Images) The price of bitcoin (BTC) has surged more than 20 per cent over the last week, reaching its highest level in more than a month. Seven straight days of price rises saw the cryptocurrency rise above $23,500 on Wednesday, providing investors with some long-awaited positive movement after nearly eight months of downward trajectory. Despite the bounce, bitcoin is still only trading at roughly one third of the peak it experienced last November, with crypto analysts divided over whether a bottom has finally been reached, or it is just a temporary relief rally. While there is no guarantee that this latest upsurge is going to spell an end to the ongoing crypto winter, that the market is recovering is a relief to investors, particularly long-term retail and institutional holders, Vadym Synegin, co-founder of the Web3 platform WeWay, told The Independent . While many addresses are likely in losses at the moment, bitcoin has continued to be very popular among investors, with a good number considering the coin a viable hedge against inflation. Bitcoins revival has been mirrored by the broader crypto market, with Binance Coin (BNB), Cardano (ADA), dogecoin (DOGE) and Polkadot (DOT) all seeing similar price gains over the last week. Even bigger gains were seen by Ethereum (ETH), which is up more than 50 per cent since last week. The worlds second most valuable cryptocurrency was boosted by news that an event known as The Merge has a provisional date to go live. This will see Ethereum switch from a proof-of-work system to a proof-of-stake system, reducing the networks energy consumption by roughly 99.95 per cent. Developers of the cryptocurrency describe it as the most significant upgrade in the history of Ethereum. The combined surge saw the overall crypto market return above $1 trillion for the first time since June. The reversal of recent capitulations in the cryptoasset space is a very encouraging indicator that there is still value being realised by investors as new information and cycles take hold, Simon Peters, an analyst at the online trading platform eToro, wrote in a note to investors. || 7 Cheap Blue-Chip Stocks Under $15 to Buy Now: Blue-chip stocks tend to have many positive characteristics. They are often industry leaders with proven, reliable business models. They also usually to deliver strong returns over the long term. And on top of that, they tend to pay dividends with regularly increasing payouts.
So, it isn’t difficult to imagine that stocks like that should command a premium. And that’s generally true.
That’s also what makes this list particularly interesting: The stocks listed here embody all of those characteristics. However, they’re also cheap, all trading below $15 at present — with several trading below $10.
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• 7 Warren Buffett Stocks to Buy and Hold for the Next Decade
Today’s top blue-chip stock picks are:
[{"F": "CCL", "Ford": "Carnival", "$11.31": "$8.82"}, {"F": "BASFY", "Ford": "BASF", "$11.31": "$10.89"}, {"F": "BCS", "Ford": "Barclays", "$11.31": "$7.61"}, {"F": "AAL", "Ford": "American Airlines", "$11.31": "$13.13"}, {"F": "AMCR", "Ford": "Amcor", "$11.31": "$12.53"}, {"F": "NWBI", "Ford": "Northwest Bancshares", "$11.31": "$13.01"}]
Source: D K Grove / Shutterstock.com
Ford(NYSE:F) stock has a clear path ahead, though that path is heavily reliant upon a transition from the internal combustion vehicles it’s famous for toelectric vehicles. And while it hasn’t had a strong start to 2022, the overall arc of the company remains positive. In fact, the 10-year annual return on F stock averaged 5.79% through the month of June. That means $1,000 invested 10 years agowould have grown to $1,755today without the inclusion of dividends.
That dividend yields a respectable 3.6%.
But an investor buying Ford shares right now seeks returns greater than 5.79% moving forward. There’s good news and bad news on that front.
Ford is investing$3.7 billionto increase production of both gas vehicles and electric-powered vehicles. The goal is 2 million electric vehicles produced annually by 2026.
At the same time, Ford recentlyrecalled around 49,000 Mustang Mach-Evehicles over a safety issue.
Nevertheless, greater EV production volumes should equate to greater valuations moving forward and thus higher returns.
Source:Flickr
I’ve generally been hesitant regardingCarnival(NYSE:CCL) stock over the last few months. The problems I see include the notion that inflation affects it worse than many other stocks.
It’s a fairly straightforward premise: The less valuable Americans’ dollars become, the less likely we are to splurge on luxuries including cruises like those Carnival offers.
The Federal Reserve is likely to raise rates by at least another 75 basis points in July. That’s only going to make the American consumer more worried about the risk of a recession. In turn, the American consumer is going to draw their purse strings even tighter, leading to less demand for CCL stock.
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I still believe all of that, but CCL stock isn’t going tofail. EPS figures are expected to turn positive in 2023. That should correlate with an upward surge in share prices. There will be volatility until then, but there’s a good chance the company will reinstate its dividend at that point, compounding growth in the process.
Source: nitpicker / Shutterstock
There are multiple catalysts and strong secular trends driving chemicals companyBASF(OTCMKTS:BASFY) stock upward in the future.
Before jumping into those, note that BASF stock comes with a very respectabledividend yielding 8.3%. It has been reduced in the past, most recently in 2021, but it’s been in the same 80-to-90-cent range since 2016.
In other words, expect a strong dividend with any BASF purchase.
Fundamentally there’s a lot to like in the fact that sales grew by 19% in the most recent quarter. Net income decreased, but once supply chain disruptions are addressed BASF should be in a much better place.
It is one of the most important firms globally in terms of food production. That can’t be underestimated as global population rises and its important inputs in agricultural production increase in importance.
Source: chrisdorney / Shutterstock.com
Barclays(NYSE:BCS) stock lets you invest in a premier name in banking that has fallen on difficult times. That could be an opportunity for those willing to take a risk.
The primary benefit I see here relates to the firm’s dividend policy. Barclays U.S. division sold more structured debt notes than it was allowed per Securities and Exchange Commission (SEC) rules over a year period. As it stands now, it looks like it was a simple clerical error rather than anything done with nefarious intent.
Barclays will likely have to buy back the notes at a loss.
The news also caused the company to have to delay a share buyback until it concludes its investigation into what occurred.
The opportunity here lies in the fact that the firm’s semi-annual dividend payment has gone up and down over the last several years.
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Given that itspayout ratiois a very low 17%, it is reasonable to guess that management may reward investors with a larger dividend once all is said and done.
Source: GagliardiPhotography / Shutterstock.com
It’s fair to say thatAmerican Airlines(NASDAQ:AAL) has been the weakest performer among the major U.S. air carriers throughout the pandemic. So, it was difficult to recommend it over its peers in any realistic comparison.
But at the same time, its upside simply can’t be denied. AAL stock carries an average target price near $20. That implies well above 50% returns for what’s thebiggest or second-biggest airlinein the world depending on how you define it.
American Airlines is probably the biggest gamble on this list as well. History isn’t on its side as it has returned a paltry0.95% annuallyover the past 10 years. In other words, $1000 invested in AAL stock a decade ago would be worth less than $1,100 today.
Put in those terms, this investment isn’t very persuasive. However, management seesprofitability returningas soon as Q2. That will send prices upward quickly.
Source: shutterstock.com/zedspider
Amcor(NYSE:AMCR) stock represents a company that produces packaging for consumer goods and healthcare products. The company currently pays a dividend yielding 3.8%. And per its most recentinvestor overview, it expects to provide shareholders with annual returns between 10% and 15% inclusive of EPS and the aforementioned dividend.
Essentially, Amcor is the company that fulfills the packaging needs of a who’s-who in the CPG industry. Chances are that you’ve touched its packaging at some point, thanks to its global reach. Sales growth is expected to reach12.2%throughout 2022.
• 7 Dividend Stocks to Buy and Hold Forever
Amcor might not have a ton of upside built intotarget prices, but what it lacks there it makes up for in terms of its stability. AMCR stock carries a five-year beta of 0.34. Even when markets fluctuate wildly, Amcor performs steadily as consumers need goods that have been properly packaged no matter the economy.
Source: YummyBuum / Shutterstock
Northwest Bancshares(NASDAQ:NWBI) is a holding company under Northwest Bank. Northwest Bank was recently named amongthe world’s best banksin aForbessurvey which should lend some credibility to NWBI stock. In fact, Northwest Bank was ranked 25th best bank in the U.S. among the 75 U.S. banks that made the list.
There are two strong reasons to consider investing in NWBI shares. First, the stock has performed very well over the past 10 years with anannual return of 6.78%. That means money invested a decade ago would have nearly doubled by today without the inclusion of dividends.
That’s the other point: NWBI stock carries a dividendyielding 6.3%. If that were factored in, an investment in the company a decade ago would have easily doubled. And no worries — although 6.5% is a strong dividend, it hasn’t been reduced dating back to 1995.
On the date of publication, Alex Sirois 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 post7 Cheap Blue-Chip Stocks Under $15 to Buy Nowappeared first onInvestorPlace.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 22978.12, 22846.51, 22630.96, 23289.31, 22961.28, 23175.89, 23809.49, 23164.32, 23947.64, 23957.53
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2020-08-06]
BTC Price: 11779.77, BTC RSI: 73.87
Gold Price: 2051.50, Gold RSI: 87.90
Oil Price: 41.95, Oil RSI: 59.33
[Random Sample of News (last 60 days)]
Tesla Sues Rival EV Maker Rivian For Poaching Employees, Stealing Intellectual Property: Tesla Inc (NASDAQ: TSLA ) has sued rival electric vehicle startup Rivian Automotive Inc. for allegedly poaching its employees and stealing secrets, Bloomberg reported late Wednesday. What Happened The Elon Musk-led automaker says there is an alarming pattern of Rivian poaching employees and obtaining its intellectual property. Misappropriating Teslas competitively useful confidential information when leaving Tesla for a new employer is obviously wrong and risky, the leading EV maker said in the complaint filed in a state court in San Jose, California. One would engage in that behavior only for an important benefit to use it to serve the competitive interests of a new employer, it further alleged. Denying the allegations, Amazon.com Inc. (NASDAQ: AMZN )-backed Rivian said it requires new employees to confirm that they have not, and will not, introduce former employers intellectual property into [its] systems. Tesla says it is the number one target from which to acquire information for the Plymouth, Michigan-headquartered EV firm, as reported by Bloomberg. Why It Matters Rivian has reportedly hired 178 former Tesla employees, 70 of which joined the automaker directly after leaving Musks company. In April, another startup Silicon Valley-based Zoox acknowledged that some of its hires from Tesla were in possession of confidential information. The two companies have reconciled. Tesla also sued a former employee for stealing secrets on behalf of Alibaba Group Holding Limited (NYSE: BABA )-backed Xpeng Motors last year. The Palo Alto-based company declared an unexpected profit in the second quarter earlier in the day, with adjusted earnings per share of $2.19 per share. Price Action Tesla shares closed 1.5% higher at $1,592.33 on Wednesday and added another 4.1% in the after-hours session. Story continues See more from Benzinga Apple's Steve Wozniak Sues YouTube Alleging Inaction On Bitcoin Fraud Tesla Confirms Cybertruck Gigafactory Will Be Built At 2,000-Acre Site Near Austin, Texas Elon Musk Unlocks Another .1B Stock Award As Tesla Reaches New Market Value Milestone © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || The U.S. Army is seeking info on crypto tracing tools for cybercrime investigations: The U.S. Army's principal investigative division has shown renewed interest in equipping its cybercrime team with cryptocurrency tracing tools, public records show. A Statement of Work (SOW) published on July 10 outlines how the U.S. Army Criminal Investigation Command's Major Cybercrime Unit (MCU) is taking the initial step toward welcoming bids for Web-based offerings instead of software or hardware-based ones. Essentially an invitation to express interest among contractors, the SOW has a deadline of July 20. According to the document, "[t]he web based application must provide the capability to assist law enforcement identify and stop actors who are using cryptocurrencies for illicit activity such as fraud, extortion, and money laundering." "Application must enables[sic] users to conduct in-depth investigation into the source of cryptocurrency transactions and provides multi-currency analysis from Bitcoin to other top cryptocurrencies," it continues. The document further explained the U.S. Army's vision for such a tool, noting: "Objectives: To acquire web based application solution that provides a capability to support investigations where there is a nexus to virtual currency. The solution needs to be cloud-based, to support USACIDC's ability to quickly detect criminal and suspicious financial connections, identify suspicious cryptocurrency transactions, and investigate cryptocurrency connections." Among the requirements: the ability "to spot transaction patterns and interactions with other entities" and possess "some type of visualization and/or link analysis tool to facilitate analysis of data." The publication comes just under a year after the U.S. Army issued a pre-solicitation notice last summer. The Pentagon, which oversees the U.S. armed forces, previously looked at the use of cryptocurrency in a wargame focused on domestic civil unrest. Documents obtained by The Intercept showed a scenario in which a Gen Z "rebellion" included the use of crypto to redistribute stolen funds. © 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. || Visa Seeks Ethereum Developer for New ‘Distributed Application’: The world’s largest payment network is looking for a developer with knowledge of Ethereum to work on a new blockchain-based application.
• Visa’sjob posting, first reported byDecrypt, says the payments giant is looking for a blockchain engineer with at least two years’ experience with blockchain architecture, and decentralized applications (dapps).
• The successful candidate will join Visa B2B – its blockchain-based cross border payments platform thatlaunched last June– at the company’s global headquarters.
• The new hire will work as part of a team building a new “distributed application.”
• Although primarily focused on Ethereum, the company is also interested in developers with knowledge building on Bitcoin, Ripple, or the R3 enterprise blockchain.
• Visa processes up to 150 million transactions worldwide every day, making it the largest payment network in the world.
• Aformer member of the Libra Association,Visa has expressed an interest in the potential for well-regulated blockchains to radically overhaul payments systems in emerging and developing markets.
• The job ad doesn’t provide any more information on what the mentioned distributed application could be.
• After publication, a Visa spokesperson told CoinDesk the position was no longer open.
See also:Visa Patent Filing Would Allow Central Banks to Mint Digital Fiat Currencies Using Blockchain
UPDATE (July 7, 10:15 UTC):This article has been updated with comment from Visa.
• Visa Seeks Ethereum Developer for New ‘Distributed Application’
• Visa Seeks Ethereum Developer for New ‘Distributed Application’
• Visa Seeks Ethereum Developer for New ‘Distributed Application’
• Visa Seeks Ethereum Developer for New ‘Distributed Application’ || Forget Bitcoin’s Volatility, BoA Says Unstable UK Pound Like an Emerging Market Currency: Bitcoin’s often criticized for its volatile and unpredictable nature – now analysts are saying that, and more, about the pound sterling. In a shock-inducing note to clients on Tuesday, currency analysts at Bank of America (BoA) said sterling had devolved into an emerging market currency in all but name during the four years since the U.K. voted to leave the European Union. Sterling’s movements in the past four years has been “neurotic at best, unfathomable at worst,” said lead analyst Kamal Sharma, a notable GBP bear, in a report by the Financial Times. Related: The Last Time Volatility Was This Low Bitcoin Went On to Rally by $2K Sterling’s spreads and implied volatility – the future range investors expect GBP to move in – remain far wider than other major world currencies, such as the U.S. dollar, euro or Japanese yen, and resemble something closer to the Mexican peso. Uncertainty surrounding a future trade deal with the EU, as well as the possibility of negative interests, have also harmed investor sentiment, BoA said. See also: UK Financial Watchdog Warns Crypto Firms to Register Before End of June Of course, many say similar, and worse, about bitcoin. In a recent note to investors, JPMorgan said bitcoin might have staying power, but its trading patterns in the last few months showed it was still a “vehicle of speculation [rather] than a medium of exchange or store of value.” Related: Bitcoin Price Volatility Hits 3-Month Low Goldman Sachs actually advised its clients against buying bitcoin last month. Rejecting the idea it was even its own asset class, analysts said its lack of cash flow and high price volatility made it wholly unsuitable as a long-term investment. Bitcoin’s volatility actually hit an eight-month low earlier this week, though some anticipate an imminent breakout as volatility returns. BTC options volumes on CME have increased markedly recently, with a series of call orders placed in the $11,000 and $13,000 range. Story continues See also: Binance Launching Crypto Exchange in the UK The BoA’s note on sterling comes as 21Shares, a Swiss-based product provider, launched the world’s first sterling-denominated crypto exchange-traded products (ETPs). In a press release, the company said the new products, set to launch on June 30, would provide U.K. investors with greater and cheaper access to digital assets. CoinDesk asked 21Shares if a potential downgrade in sterling would impact their ETPs at all, with investors being dissuaded from buying a product that not only tracks a volatile asset, but is priced in another volatile asset too. Laurent Kssis, 21Shares’ managing director, said it wouldn’t make much of a difference: U.K. enthusiasm for crypto products has been high, but the market has remained relatively untapped because investors first have to exchange into U.S. dollars, Swiss francs or euros in order to access them, adding additional frictional costs. “Irrespective of volatility, GBP-denominated ETPs remove the FX risk factor and allow U.K. investors to better tap into crypto,” he said. Related Stories Forget Bitcoin’s Volatility, BoA Says Unstable UK Pound Like an Emerging Market Currency Forget Bitcoin’s Volatility, BoA Says Unstable UK Pound Like an Emerging Market Currency || First Growth Funds Limited - New Listing on the CSE: TORONTO, CANADA / ACCESSWIRE / June 29, 2020 / First Growth Funds Limited (CSE:FGFL)("FGFL or the"Company") is pleased to announce the listing of its ordinary shares ("Shares") on the Canadian Securities Exchange "CSE" on June 29, 2020 under the symbol CSE:FGFL.
The Company provides Advisory Services to companies and invests across a diversified portfolio of different asset classes, including equity and convertible note investments in large and small cap public listed and private companies. The Company also invests in technology companies involved in the development of blockchain solutions as well as direct investments in established and liquid Cryptocurrency (for example Bitcoin and Ethereum).
The current issued share capital of the Company is 77,798,218 fully paid ordinary shares. There are no outstanding options or warrants.
The Company's most recent transaction involved the acquisition of an unlisted technology company for a modest $940 that was subsequently sold to an ASX listed company for $900,000 in shares and then subsequently exited with $1.4M in cash. The two transactions were completed within last 12 months.
The Company has access to unique deal flow and can invest across multiple asset classes, geography and investment stages. The Company also provides Advisory services earning retainer fees and transaction fees for supporting its unlisted and listed investments.
First Growth Funds Limited is based in Australia but invests globally with a growing portfolio of listed and unlisted investments in North America. The Company has a strong balance sheet with over $10M in cash and investments.
For further information please visit the company's corporate website atwww.firstgrowthfunds.comor the Company's profile atwww.sedar.comwhere its final long form prospectus dated June 10, 2020 is available for review.
Contact:Mark PrynPhone: +61.386206400Email:[email protected]
About First Growth Funds Limited
First Growth Funds Limited invests across a broad range of asset classes including listed equities, private equity, blockchain and digital assets. The company also operates an advisory business providing corporate advisory, capital raising and capital markets support to its portfolio.
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
FORWARD LOOKING INFORMATION
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. The forward-looking statements and information are based on certain key expectations and assumptions made by management of the Company.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.
The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the Canadian Securities Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
SOURCE:First Growth Funds Limited
View source version on accesswire.com:https://www.accesswire.com/595522/First-Growth-Funds-Limited--New-Listing-on-the-CSE || Everything we know about the Twitter Bitcoin hack: Author’s note: This story was first published on 7/16/2020, and last updated on 7/17/2020. Check the Latest Updates section for the most recent developments.
Early in the afternoon (Eastern time) on July 15th, a hacker -- or hackers -- gained control of a series of Twitter accounts owned by Bitcoin enthusiasts, executives and exchanges. Upon gaining control of those accounts, the hackers tweeted messages to those accounts' audiences claiming that they would be "giving 5000 BTC back to the community" and directing users to cryptoforhealth.com. People who visited the now-defunct website were told that if they sent Bitcoin to a specified address, they would receive double the amount in return, plus a bonus if contributions exceeded a certain threshold.
After the hackers had spread the message from multiple Bitcoin-related Twitter accounts, they went big. The first major account to be breached appears to be Elon Musk's, followed in short order by Bill Gates, Uber, Apple, Kanye West, Jeff Bezos, Mike Bloomberg, Joe Biden and former president Barack Obama, among others.
Most of these accounts tweeted some variant of the same message: If someone were to send Bitcoin to the address specified in the tweets during a 30-minute window, the account owner would return double the amount. These outsized claims succeeded in tricking some people into sending over valuable cryptocurrency, but no crypto was ever sent in return. (Obviously.) All of the tweets sent from these high-profile accounts directed victims to the same Bitcoin address.
By this point, Twitter had caught on and was attempting to contain the account breaches. In an effort to prevent more scammy messages being shared, Twitter temporarily removed the ability for verified users to tweet. If the owners of those accounts wanted to communicate on the platform, they either had to create temporary accounts, retweet existing tweets, or both. (Meanwhile, non-verified Twitter users basically had a field day.) Twitter appeared to get the situation under control and restored verified users’ ability to tweet at around 8:30 PM Eastern.
At that time, Twitter confirmed that it had opened an investigation into the hack, and one day later, the FBI confirmed that it waslaunching an investigation of its own.
At this time, Twitter's investigation is still ongoing, and there is little in the way of conclusive information. With respect to the hack itself, here's what the company has confirmed so far:
• Some of its employees were targeted in a social engineering attack because of their access to "internal systems and tools."
• The hackers were able to "take control" of verified and high-profile Twitter accounts, and published the scam tweets "on their behalf"
• In the wake of the hack, Twitter has taken steps to limit access to the aforementioned internal systems and tools, at least for the duration of the investigation.
The@TwitterSupportaccount has been largely quiet since issuing those statements, but it's important to note that some news reports published in the wake of the hack stand at odds with Twitter's official narrative.
As mentioned, Twitter said some of its employees fell prey to a social engineering attack. "Social engineering" is a term with many connotations, but is generally taken to mean that one party has tricked or manipulated another to gain information or access to resources that otherwise would have been off-limits. Meanwhile,a report published by Motherboarda few hours after the hack described the situation more bluntly. According to unnamed sources who allegedly took over some of the accounts themselves, hackers bribed at least one Twitter employee for access to powerful platform controls.
Motherboard'sinterview revealed the existence of a control panel that certain Twitter employees have access to, which allows them to -- among other things -- change the email addresses connected to specific Twitter accounts. By changing information associated with some of those high-profile accounts, the hackers were able to temporarily transfer ownership to themselves. At this point, however, it's unclear whether this method was used to gain control of all the affected accounts. It is worth noting, however, that one ofMotherboard'ssources claims that a Twitter rep did "all the work" for them, suggesting a level of cooperation that isn't directly addressed in Twitter's statements.
The value of the hackers' final takings aren’t known at the moment. Early on, people monitoring the address specified in those celebrity tweets saw that it was the recipient of nearly $60,000 in Bitcoin transfers. At time of writing, the total amount sent tothe address in questionstands at 12.86874316 BTC, or $118,995.75. That figure dovetails with anaccount given toTechCrunchby another unnamed source, who claimed that a hacker known as “Kirk” was behind the hack and generated “over $100,000” in a matter of hours. However, much of the cryptocurrency in the wallet associated with that address is no longer there. As it stands, the wallet currently contains the equivalent of about $141.
What's still unclear is how many of those Bitcoin transfers were initiated by people acting in good faith. In scams like this, it's not uncommon for the perpetrators to "seed" the blockchain ledger with transactions that appear legitimate in an attempt to hoodwink skeptical, would-be donors into sending crypto.
Legislators were, unsurprisingly, appalled. (And then quiet for a little while, after their verified accounts were muted.) While scammy messages were being tweeted, retweeted and scrutinized, Senator Josh Hawley (R-Missouri)drafted a letter to Twitter CEO Jack Dorseycalling for answers to questions about the scope of the breach, the possibility of personal data loss as a result of the breach, and the sorts of protections Twitter has in place to prevent "system-level hacks." Dorsey has not publicly responded to these questions.
Beyond individual members of government, Twitter also faces heightened scrutiny from trade regulators and governing bodies.CNN Business'sBrian Fungpointed to the possibility that Twitter would become the subject of a Federal Trade Commission investigation, citing comments from two former directors of the FTC's Bureau of Consumer Protection. Meanwhile,the BBCnotes that the European Union will likely take an interest -- despite the fact that the hack's victims were largely American -- because of what the situation says about the company's security practices. If EU regulators find that Twitter was lax in its efforts to protect its users, the social media giant could face a hefty fine.
It was, as CEO Jack Dorsey laconically put it, a “bad day” for Twitter. But the weeks and months that follow may wind up costing the company even more.
• 7/17/2020:While the Twitter breach culminated in scammy tweets being sent from several celebrity accounts, the scope of the attack was actually much larger. At 10:53 PM Eastern on July 16th, the@TwitterSupportaccount confirmed that “approximately 130 accounts were targeted by the attackers in some way as part of the incident.” (Read our story here.) Elsewhere that same evening, security researcherBrian Krebspublished a detailed report suggesting the foundation of the hack was rooted in a forum known for trafficking in black market social media accounts. (Read our story here.)
• 7/16/2020:According toThe HillandFinancial TimescorrespondentKadhim Shubber, the FBI’s San Francisco division has opened an official investigation into the Twitter hack. Meanwhile, on the other side of the country,New York governor Andrew Cuomois directing his Department of Financial Services “and any other relevant state agency” to investigate the matter. And unlike the FBI, Governor Cuomo admits that his actions are rooted on some level in the need to safeguard the upcoming presidential election. (Read our story here.)
• 7/16/2020:@TwitterSupportadded to its investigation thread with some good news at 3:18PM Eastern time. While it has no additional information about the mechanics of the hack, the account notes that there is “no evidence that attackers accessed passwords,” and that the company does not believe changing your password is necessary. (Read our story here.)
• 7/16/2020:In the immediate aftermath of the hack, one big question still hangs in the air: Were the hackers after more than just money? Some, like digital privacy expert Ray Walsh,told our own Dan Cooperthat the hackers were either “highly unimaginative or extremely restrained.” Another theory posits that the hackers were just kind of dumb: || Is it a Good Time to Buy Bitcoin?: The swing trade took one month to play out and we had to sit through a lot of noise, but the price structure never turned bearish, even though it appeared questionable at times. The question everyone is asking: now a good time to buy? And in terms of our long-only swing trade strategy, the answer is NO. Why not? It looks strong now? The risk of retrace after such a move is very high. This is NOT a location that offers attractive reward/risk, even though price appears to be pushing higher. Now that we are out of our position, we WAIT for the next long setup and this begins with first anticipating an inflection point. At the moment, that point is the 10,400 area. This is the previous range resistance, which is now likely to act as a new support. IF price can retrace to this area, and produce a setup, we will be prompted to share a new swing trade idea. It may find support sooner, but only price action can provide the evidence and there is nothing at the moment except for vertical candles. This is the herd mentality in action. No one was excited about Bitcoin at 9200, or 9K but now it looks strong again. Markets are irrational and driven by the forces of greed and fear which often lead to the wrong timing. The effective thing to do in such a situation is lock in profits while the buyers are plentiful, even if it is just a portion of the position. Effective behavior and following a set of rules are what produce results, NOT chasing a market after it has made a significant move. Want to learn more? Visit the link to my website which you can find on my profile page. 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: EUR/USD Daily Forecast – Euro Pares Some Gains Following Fed Decision EUR/USD Retracement is Needed Technical Patterns, Future Expectations and More – Part II US Stock Market Overview – Stock Rally Following Fed Decision; Pending Home Sales Surge Crude Oil Price Update – Oil Inventories Plunge but Gains Capped by Jump in Refined Products Gold Price Futures (GC) Technical Analysis – Needs to Hold $1963.80 to Sustain Upside Momentum || US Supreme Court’s Computer Fraud Ruling Has Big Implications for Crypto: Bitcoin took a hit Monday, only to recover as many market participants see price weakness ahead. Bitcoin (BTC) was trading around $9,426 as of 20:00 UTC (4 p.m. ET), gaining less than a percent over the previous 24 hours. At 00:00 UTC on Monday (8:00 p.m. Sunday EDT), bitcoin was changing hands around $9,327 on spot exchanges such as Coinbase. It then dipped 5% to as low as $8,895 before picking back up to over $9,300. The price is now above its 10-day and 50-day moving averages, a bullish technical indicator. “Bitcoin is trading off with other asset classes, having suffered a loss of short-term momentum,” said Katie Stockton, lead analyst for Fairlead Strategies. “There is room to short-term oversold territory, but no support has been broken. The neutral consolidation phase is intact, in my work, as long as bitcoin is above the 200-day moving average, about $8,340, and below resistance near $10,055.” Read More: Bitcoin Price Drop May Be a Bear Trap, Options Market Suggests Traders say traditional markets seem to be taking the lead these days. “Our actual concern at the moment is the correlation between equities and gold,” Singapore-based quantitative trading firm QCP Capital wrote in an investor note Monday. “If both start trading lower in tandem, which happened prior to Black Thursday in March and also before the Thursday sell-off last week, it could be a strong signal for BTC to trade a leg lower as well.” Indeed, both bitcoin and the S&P 500 saw similar movements on June 10’s drop across most markets. Gold has held its own throughout the year, with the exception of March’s decline. Related: Market Wrap: Bitcoin Drops, Then Pops as Traders See Weaker Markets Coming That bitcoin’s performance is matching stocks of late concerns George Clayton of Cryptanalysis Capital. “The correlation with stocks is continuing,” he told CoinDesk. “That’s negative for crypto right now.” Story continues Read More: JPMorgan Analysts: Bitcoin Is Likely to Survive (as a Speculative Asset) The market may seem weak right now but it could be worse, said Chris Thomas, head of digital assets at Swissquote Bank. “An interesting point is that miners do not appear to be selling. Otherwise, we would have seen the market significantly lower.” A look at the market for options with June expiration shows where some traders see the price heading. According to data collected from aggregator Skew, bitcoin has a 90% probability of being over $7,500, yet only a 13% chance of hitting $10,500 for the month of June. Thomas said the sweet spot for bitcoin is around the $8,000 range going forward. “I think we may drift a bit over the next few days and week, perhaps make a new leg lower into the $8,000 territory,” he said. “There are a lot of buyers and sellers sitting on the sidelines waiting.” Other markets Digital assets on CoinDesk’s big board are mostly in the red Monday. Ether (ETH), the second-largest cryptocurrency by market capitalization, is trading around $232 and slipping 1% in 24 hours as of 20:00 UTC (4:00 p.m. ET). Read More: Cardano’s No Ethereum Killer Yet, but It’s Winning in Crypto Markets The number of unique addresses active in the Ethereum network either as a sender or receiver has been trending up. Activity spiked during March’s coronavirus-induced crash, at 389,114 active addresses. On June 2, the number hit 387,293, closing in on that March 21 high for the year so far. The biggest cryptocurrency losers on the day include decred (DCR) in the red 4.4%, qtum (QTUM) dipping 3.4% and bitcoin SV (BSV) down 3.2%. The lone winner was zcash (ZEC) in the green 2.8%. All price changes were as of 20:00 UTC (4:00 p.m. ET). In commodities, oil gained 1.5%, with a barrel of crude priced at $37 at press time. Gold is trading flat, with the yellow metal slipping by less than a percent, trading at around $1,726 for the day. Read More: Cryptocurrency Markets May Be Decentralized but They’re Still Accountable In Asia, the Nikkei 225 index of publicly traded companies in Japan closed in the red 3.4% on fears of the coronavirus pandemic making a comeback .I n Europe, the FTSE 100 index ended trading flat, down less than a percent as amid concerns about COVID-19 making a resurgence . The U.S. S&P 500 index gained less than a percent. Since the start of 2020 the tech stock Amazon.com, which is in the top five of the S&P 500, has actually outgained bitcoin, up 39% versus the world’s oldest currency’s 31% appreciation. U.S. Treasury bonds were mixed on the day. Yields, which move in the opposite direction as price, were down most on the t-year, in the red 5%. Related Stories Inactive Bitcoin Supply Reaches 4-Year High, Pointing to Bullish Sentiment Bitcoin Price Drop May Be a Bear Trap, Options Market Suggests || Human Rights Foundation launches fund to support development of Bitcoin privacy projects: The Human Rights Foundation (HRF) has launched a fund to support software developers working on privacy-focused Bitcoin projects.
The New York-based nonprofit, which aims to promote and protect human rights globally, announced the initiative in apress releaseon Wednesday. The HRF said it is starting the fund in order to"better serve as a financial tool for human rights activists, civil society organizations and journalists around the world."
The foundation also awarded the new fund's first grant, to Chris Belcher, a UK-based developer working on CoinSwap, a tool that makes it harder to monitor Bitcoin transactions. A second grant will be given to another developer soon, according to the announcement.
HRF is also seeking more support via acrowdfunding campaignin which95% of donations collected will be used to fund the work of selected developers. The remaining 5% will support HRF's efforts in general.
"Human rights defenders and reporters around the world face increasing financial repression in the form of frozen bank accounts, restrictions on foreign funding, payment surveillance, and general difficulty in earning income or receiving donations," Alex Gladstein, the organization's chief strategy officer, said in a statement. "Bitcoin can be a powerful tool for them to use moving forward alongside encrypted messaging apps like Signal and projects like Tor Browser and SecureDrop."
© 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. || Electroneum Mines Multi-Country Charity Donations During COVID-19: When Gyam Queen heard Nigeria would enter a 14-day lockdown, her first thought was about her studies. Queen, who is 26, is pursuing a Hospitality Management course at Wavecrest College in Lagos and aspires to open a restaurant offering Nigerian cuisine. Thanks to a donation from the WONDER Foundation , a crypto-backed U.K. NGO, hundreds of girls like Queen can now see their dreams become a reality. I have got a smartphone and internet access, and now I can do online studies and surf the internet without spending a single penny, said Queen speaking from Lagos, which is still under lockdown. Related: How Apple's COVID-19 Policy Limited a Public Health App in Taiwan Cryptocurrencies are gaining momentum as a way to donate funds to non-profits. The number of charities accepting crypto donations has doubled in North America, Europe and Australia, according to the 2019 Global NGO Technology Report . Groups like the Giving Block, which worked on a CoinDesk charity campaign recently, help non-profits navigate crypto technology. U.K. startup Electroneum, which runs a 140-country mobile payments network, has built charity directly into its business model. Since 2019, the network, which mines the ETN coin, has donated a portion of its block rewards to help fund 12 separate educational and community-building efforts. I still do not fully understand how the price of a cryptocurrency fluctuates, but I am happy to get nearly $35,000. Electronium signs up nongovernmental organizations as network validators, which then receive a block reward in the same way bitcoin miners receive satoshis for helping to secure the network. Electroneums target audiences are the economically weaker regions of the world, where the financial possibilities of cryptocurrency are most in need, said Richard Ells , the CEO and founder of Electroneum. Related: Market Wrap: Bitcoin Still Stuck in a Rut, Trading Below $10K The NGOs are mostly working with the unbanked population, and that is our target audience. Cryptocurrencies dont have trust in many parts of the world, so if we help these NGOs, we reach out to the people and make them aware and they gain a little bit of extra income, said Ells. Story continues This sounds like a win-win-win situation: Electroneum gains users, charities receive funding and those who need it the most become part of a financial system. But its not easy to convince NGOs to become part of a novel economic experiment. No, the first thing that came to my mind was scam, fraud and skepticism, says Carmen Gonzalez , the CEO of the WONDER Foundation. Initially, the WONDER Foundation was reluctant about mining block rewards as nobody on staff knew how cryptocurrency works. It is a normal reaction when the director of an NGO raises eyebrows on our proposal, Ells said. Its too good to be true for them, he said. The first step is to make them understand this is not a scam, the second step is to explain block rewards and mining, and the third is they are not losing anything, he said. After months of conversation between WONDER and Electroneum, in July 2019 the foundation began validating the Electroneum network in exchange for ETN block rewards. I still do not fully understand how the price of a cryptocurrency fluctuates and who decides it, but I am happy to get nearly $35,000, which I would have never received from traditional donation methods, said Gonzalez. Her foundation is also using Electroneum to help an Indian NGO called Kamalini , where she sent nearly $18000. In addition to supporting NGOs, Electroneum is working on providing internet access to African and Asian countries. Electroneum wants ETN to provide electricity to four countries Nigeria, Senegal, Mali and Gambia and give the users Electricity top-up from the app, he says. Students like Queens from Wavecrest College of Hospitality talk about the lack of electricity as a major hurdle in their studies. She checks the battery sign on her phone regularly and makes sure to charge up before any scheduled power cuts. Smartphones are not enough, we need infrastructure, she said. Rosana Forsuelo, the provost of Wavecrest College of Hospitality, hopes for more help from the WONDER Foundation and Electroneum. She doesnt understand much about block rewards and says, Cryptocurrency is like bitcoin. But she knows crypto is money. We got nearly $17,000, which we spent on food items, staff salary, laptops and smartphones. One of our security guards, Mr. Pius, got an emergency funding of $160 as he was thrown out from his house in the COVID-19 crisis. The funding from WONDER Foundation and Electroneum helped us a lot, she said. But we need more funding as our staff needs to be paid. The lack of infrastructure is making the situation worse in the pandemic, she said. Related Stories Electroneum Mines Multi-Country Charity Donations During COVID-19 Electroneum Mines Multi-Country Charity Donations During COVID-19
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 11601.47, 11754.05, 11675.74, 11878.11, 11410.53, 11584.93, 11784.14, 11768.87, 11865.70, 11892.80
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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 2022-11-16]
BTC Price: 16669.44, BTC RSI: 36.33
Gold Price: 1773.00, Gold RSI: 71.86
Oil Price: 85.59, Oil RSI: 46.47
[Random Sample of News (last 60 days)]
Marathon Digital Holdings Announces Bitcoin Production and Mining Operation Updates for October 2022: • Produced a Record 615 BTC in October 2022
• Total Bitcoin Holdings Increased to 11,285 BTC with a fair market value of $231.3 Million
LAS VEGAS, Nov. 02, 2022 (GLOBE NEWSWIRE) --Marathon Digital Holdings, Inc.(NASDAQ:MARA) ("Marathon" or "Company"), a leader in supporting and securing the Bitcoin ecosystem, today published unaudited bitcoin (“BTC”) production and miner installation updates for October 2022.
Management Commentary“October was the most productive month in Marathon’s history both in terms of hash rate growth and bitcoin production,” said Fred Thiel, Marathon’s chairman and CEO. “The energization of approximately 32,000 of our miners during the month allowed us to increase our hash rate approximately 84% from approximately 3.8 exahashes per second at September 30 to approximately 7.0 exahashes per second at November 1. By successfully growing our hash rate and maintaining uptime, we were able to produce a record 615 bitcoin in October. With S19 XPs now being delivered and new facilities under construction, we believe we are well positioned to continue building on our recent momentum to reach 23 exahashes per second in 2023.”
Recent Highlights
• Produced a record 615 BTC in October 2022
• As of November 1, operating mining fleet consisted of approximately 69,000 active miners, producing approximately 7.0 EH/s, after approximately 32,000 miners (c. 3.2 EH/s) were successfully energized during October 2022
• Year-to-date through October 31, 2022, produced 3,197 BTC, a 27% increase over the same time period in the prior year
• Total bitcoin holdings increased to 11,285 BTC with a fair market value of approximately $231.3 million as of October 31, 2022
• Unrestricted bitcoin holdings were approximately 3,464 BTC with a fair market value of approximately $71.0 million
• Unrestricted cash on hand was approximately $52.1 million at October 31, 2022
Miner Energization and Installations UpdatesIn October, approximately 32,000 of Marathon’s previously installed miners, representing approximately 3.2 EH/s, were successfully energized and brought online. As a result, the Company’s hash rate increased to approximately 7.0 EH/s (c. 69,000 active miners) as of November 1, 2022.
Based on current construction and installation schedules provided to Marathon by its hosting providers, the Company continues to expect to have enough miners installed to generate approximately 23 EH/s near the middle of fiscal year 2023.
Once all of Marathon’s previously purchased miners are installed, approximately 66% of the Company’s hash rate is expected to be generated by S19 XPs, which are approximately 30% more energy efficient than the prior generation. As a result, once fully operational, Marathon’s Bitcoin mining operations are currently expected to be among the largest and most energy efficient on a per terahash basis.
Q3 2022 Earnings Webcast and Conference CallMarathon Digital Holdings will hold a webcast and conference call on Tuesday, November 8, at 4:30 p.m. Eastern time to discuss financial results for the third quarter ended September 30, 2022.
To register to participate in the conference call, or to listen to the live audio webcast, pleaseuse this link. The webcast will also be broadcast live and available for replay via the investor relations section of the Company’swebsite.
Date: Tuesday, November 8, 2022Time: 4:30 p.m. Eastern time (1:30 p.m. Pacific time)Submit Questions in Advance:LINKRegister for Earnings Webcast:LINK
If you have any difficulty connecting with the conference call, please contact Marathon’s investor relations team [email protected].
Investor NoticeInvesting in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under "Risk Factors" in Item 1A of our most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2021, filed with the SEC on March 10, 2022. If any of these risks were to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline, and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. Future changes in the network-wide mining difficulty rate or Bitcoin hash rate may also materially affect the future performance of Marathon's production of bitcoin. Additionally, all discussions of financial metrics assume mining difficulty rates as of September 2022. See "Forward-Looking Statements" below.
Forward-Looking StatementsStatements made in this press release include 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. Forward-looking statements can be identified by the use of words such as “may,” “will,” “plan,” “should,” “expect,” “anticipate,” “estimate,” “continue,” or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading “Risk Factors” in the Company's Annual Reports on Form 10-K, as may be supplemented or amended by the Company's Quarterly Reports on Form 10-Q. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.
About Marathon Digital HoldingsMarathon is a digital asset technology company that focuses on supporting and securing the Bitcoin ecosystem. The Company is currently in the process of becoming one of the largest and most sustainably powered Bitcoin mining operations in North America, while remaining asset light.
Marathon Digital HoldingsCompanyContact:Telephone: 800-804-1690Email:[email protected] || 3 Marijuana Stocks to Buy Ahead of the Midterm Elections: Amidst multiple economic challenges, the upcoming midterm elections will provide a referendum on Joe Biden. However, these midterms are important for several other reasons. Governors are up for election in 36 states, with hot topics like state-level marijuana legalization likely to remain. With this upcoming event, it’s a good time to consider some marijuana stocks to buy.
So, what’s the potential catalyst for the marijuana industry in the upcoming elections?
First and foremost, theelection of governors in 36 statescould have an impact on legalization. Recently, Gavin Newsom, governor of California, “signed severalmeasures to strengthen California’s cannabis laws.” These measures are intended to expand the legal cannabis market. If other governors from the Democratic party are elected, investors bullish on marijuana legalization could see growth in this sector once again.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Furthermore, President Biden made a statement in October on marijuana reforms. Biden announced the release of federal convicts held just for possession or consumption of marijuana. The President also called for review of the law that “classifies marijuana in Schedule I of the Controlled Substances Act.”
Clearly, if the Democrats have the upper hand, marijuana stocks are likely to surge. Of course, the baseline scenario right now paints a gloomy outlook for the Democratic party. That said, investors have to take risk to earn a return on their investment. For those looking to do so in the cannabis space, here are three marijuana stocks to buy with potential multi-bagger returns.
[{"TLRY": "CURLF", "Tilray Brands": "Curaleaf Holdings", "$3.16": "$5.58"}, {"TLRY": "SNDL", "Tilray Brands": "Sundial Growers", "$3.16": "$2.12"}]
Source: Shutterstock
Even if we put the legalization story aside, there are reasons to be bullish onTilray Brands(NASDAQ:TLRY).
Tilray recently reported Q1 2023 results. The company’s revenue numbers generally disappointed investors. However, the company continues to report positive adjusted EBITDA. Tilray has also reaffirmed its guidance forpositive free cash flows for the fiscal year 2023. This is good news for investors, particularly at a time when most marijuana companies continue to struggle with cash burn.
Tilray has also been aggressive on the medicinal cannabis front. With a focus on evidence-backed products, the company has already received authorization to enter multiple markets in Europe. These include Poland, Italy, and the U.K.
The company has a strong balance sheet with $500 million in cash. Thus, Tilray is well-positioned to make big investments in the future, should federal cannabis legalization in the U.S. pan out. Right now, I think this penny stock is worth buying, especially when considering the stock’s 55% correction year-to-date in 2022.
Source: Shutterstock
It’s worth noting thatCuraleaf Holdings(OTCMKTS:CURLF) has traded in a relatively narrow sideways band over the past six-months. This may be an indication of a bottom for the stock, and I think a reversal seems due in the coming quarters.
A big reason to like Curaleaf is the fact that the company has apresence in 22 states in the U.S. Accordingly, revenue growth can accelerate materially, should marijuana be legalized at federal level. At the same time, Curaleaf has presence in eight countries in Europe.
Another reason to like Curaleaf is the company’s investment in research and development. For Q2 2022, the company reported 20% of its revenue came from products launched in the last 12 months. The company claims to have another 180 products in experimental development.
For the current year, Curaleaf has guided for revenue of $1.5 billion and adjusted EBITDA of $406 million. A key stock upside trigger in the next two years would be positive free cash flows. For the first half of 2022, the company has already reported positive operating cash flows.
Source: gvictoria / Shutterstock.com
Sundial Growers(NASDAQ:SNDL) is among the marijuana stocks to buy that’s likely to find a bottom around current levels. As an overview, Sundial is focused on distribution and sale of cannabis products in Canada. However, through its investment arm, Sundial has a bigger reach.
Just to put things into perspective, Sundial has 355 retail stores which sell liquor and cannabis in Canada. Additionally, the company reported$689 million in strategic investments(equity and debt).
As the global cannabis market expands, the value of the company’s equity investments is likely to swell. Sundial can therefore be considered as a proxy for investment in several attractive cannabis stories globally.
It’s also worth noting that Sundial closed Q2 2022 with $356 million in cash and marketable securities. This provides headroom for further investments. In August 2022, Sundial has proposed the acquisition ofThe Valens Companyfor $138 million. The latter has afull suite of cannabis 2.0 manufacturing capabilities.
Penny Stocks
On Penny Stocks and Low-Volume Stocks:With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand thatInvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks —How to Profit Without Getting Scammed
On the date of publication, Faisal Humayun 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 the InvestorPlace.comPublishing Guidelines.
Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector.
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The post3 Marijuana Stocks to Buy Ahead of the Midterm Electionsappeared first onInvestorPlace. || Markets: Bitcoin dips but holds above US$20,000, Ether falls, XRP only gainer in top 10: Bitcoin fell in Thursday morning trading in Asia but held above the US$20,000 support line. Ether also lost ground. XRP was the only token in the cryptocurrency top 10 by market capitalization to gain. See related article: Is crypto money? A South Korean court says no Fast facts Bitcoin fell 0.9% in the past 24 hours to change hands at US$20,166 at 8 a.m. in Hong Kong. Ether dropped 0.7% to US$1,353, according to data from CoinMarketCap . The leading memecoin Dogecoin was the biggest loser in the top 10, falling 2.2% to US$0.06, Cardano fell 1.1% to US$0.43, while Solana was little changed, dipping 0.2% to US$34.07. XRP rose 2% to US$0.49 following news that Ripple Labs Inc., the firm whose payment network is powered by XRP, was listed in the CB Insights Fintech 250 for 2022 as one of the world’s most promising Fintech companies. XRP prices remain volatile in the face of seesaw developments in the U.S. Securities and Exchange Commission’s (SEC) ongoing lawsuit against Ripple, which was originally filed in 2020 with the SEC alleging Ripple had sold tokens as unregistered securities. On Tuesday, the SEC objected to motions from two firms that had requested amicus briefs supporting Ripple. U.S. equities were little changed on Wednesday. The Dow Jones Industrial Average lost 0.1%, while the S&P 500 and the Nasdaq Composite Index both fell 0.2%. Markets flattened from a strong start to the week following data that showed the U.S. economy is still running strong with businesses adding 208,000 jobs in September — more than forecast and up from 185,000 in August — according to payroll services firm ADP on Wednesday. This is seen as another signal the pace of inflation isn’t slowing and points to further interest rate increases ahead by the U.S. Federal Reserve. Inflation is now running at 8.3% in the U.S. and the Fed has said it wants it back in the target range of 2%. See related article: ‘It raises really interesting questions’: How regulators are approaching DAOs || Is Intuit (INTU) a Smart Long-Term Buy?: RiverPark Funds, an investment management company, released its “RiverPark Large Growth Fund” third quarter 2022 investor letter -- a copy of which can be downloaded here . For the quarter, the RiverPark Large Growth Fund (the “Fund”) lost 3.3% - a bit better than the S&P 500 (-4.9% for the quarter) and about in line with the Russell 1000 Growth index (-3.6% for the quarter). Try to spare some time to check the fund's top 5 holdings for you to have an idea about their best stock picks this 2022. In its Q3 2022 investor letter, RiverPark Large Growth Fund mentioned Intuit Inc. (NASDAQ: INTU ) and explained its insights for the company. Founded in 1983, Intuit Inc. (NASDAQ:INTU) is a Mountain View, California-based business software company with a $121.7 billion market capitalization. Intuit Inc. (NASDAQ:INTU) delivered a -32.83% return since the beginning of the year, while its 12-month returns are down by -29.01%. The stock closed at $432.08 per share on October 25, 2022. Here is what RiverPark Large Growth Fund has to say about Intuit Inc. (NASDAQ:INTU) in its Q3 2022 investor letter: "We took advantage of its 2022 price decline to add a small position in Intuit . INTU is a leading SaaS software solutions provider to small businesses, consumers, and professional accountants, best known for its QuickBooks accounting and TurboTax tax preparation platforms. INTU recently strengthened its personal finance offerings with the acquisitions of Mint and Credit Karma, and its small business offering with the acquisition of email marketing platform Mailchimp. The company is benefitting from the secular shift to digitization for both businesses and consumers. Given its vast amount of valuable personal finance and tax customer data from its 100 million + customer installed base, the company can apply artificial intelligence to the data to generate actionable intelligence for customers, as well as a large cross-selling opportunity across its products. Given INTU’s less than 5% penetration of its $300 billion market, we believe the company can grow its top-line mid-teens, while improving its high-margin business model of greater than 80% gross margins and greater than 35% EBITDA margin, leading to high-teens EPS growth for the foreseeable future. At about 2% of revenue, the company also requires limited capital expenditures, producing significant and growing FCF, which INTU has used for acquisitions, a small dividend, debt repayment and stock buybacks." Story continues Major Retailers and Services That Accept Bitcoin in 2018 alphaspirit/Shutterstock.com Our calculations show that Intuit Inc. (NASDAQ:INTU) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds . Intuit Inc. (NASDAQ:INTU) was in 75 hedge fund portfolios at the end of the second quarter of 2022, compared to 82 funds in the previous quarter. Intuit Inc. (NASDAQ:INTU) delivered a 4.31% return in the past 3 months. In September 2022, we also shared another hedge fund’s views on Intuit Inc. (NASDAQ:INTU) in another article . You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q3 page. Suggested Articles ARK Invest Stock Portfolio 11 Best High Dividend Stocks Under $100 15 Best Drug Stocks To Buy Disclosure: None. This article is originally published at Insider Monkey . || Amazon Freezes Hiring Levels in Profitable Advertising Business: (Bloomberg) -- Amazon.com Inc. is freezing staffing levels in its profitable advertising business, according to a person familiar with the matter, showing that the world’s largest e-commerce company is taking more drastic measures to align expenses with slowing sales. Most Read from Bloomberg Twitter Now Asks Some Fired Workers to Please Come Back Elon Musk Walks Back on Twitter Job Cuts, Blue Checks in Second Week Houston Mogul’s $75 Million Win on Astros Hits Caesars Hardest COP27 Latest: Coal Deal Provides Counterpoint to Record Demand Ukraine Latest: US and Russia Discussed Containing War, WSJ Says The headcount freeze was announced internally Tuesday, said the person, who asked not to be identified because the plans are private. Amazon will continue to fill vacancies in its advertising business, but won’t create any new positions, the person said. “Amazon continues to have a significant number of open roles available across the company,” a spokesperson said in a statement. “We have many different businesses at various stages of evolution, and we expect to keep adjusting our hiring strategies in each of these businesses at various junctures.” The decision to keep the advertising unit workforce at its current level shows Amazon is looking to squeeze more profit out of the fast-growing business in the busy holiday quarter. Chief Financial Officer Brian Olsavsky said in a media call last week that Amazon would continue to invest in its advertising division and its cloud-computing unit, Amazon Web Services, while looking for other places to cut costs. Amazon’s advertising business -- largely sponsored search results on its web store -- generated $9.55 billion in the quarter ended Sept. 30, an increase of 25% from the same period a year earlier. Amazon shares have dropped 13% since Oct. 27, when the company projected the slowest revenue growth ever for its holiday quarter. Chief Executive Officer Andy Jassy has been busy reducing expenses in the face of sales that have come off their pandemic highs. Amazon in October imposed a hiring freeze on corporate roles in its retail business and has been cutting and shutting down several experimental and smaller programs to reduce costs. Story continues Most Read from Bloomberg Businessweek Seizing a Russian Superyacht Is Much More Complicated Than You Think El Salvador’s $300 Million Bitcoin ‘Revolution’ Is Failing Miserably Small Businesses Find a Loophole in the New Tax Law: Zelle Adobe Is Trying to Spend $20 Billion to Buy Back Its Swagger US Housing Hit by Spiraling Mortgage Rates as Inflation Persists ©2022 Bloomberg L.P. || U.S. midterm elections, Disney earnings, FTX-Binance spat - what's moving markets: By Geoffrey Smith Investing.com -- The U.S. holds midterm elections, with the Republican Party tipped by opinion polls to regain control of the House of Representatives. The lockdown around the world's biggest iPhone factory is set to be extended after the Chinese city of Zhengzhou reports a jump in COVID-19 cases. Walt Disney leads a veritable deluge of earnings reports, while Lyft and Take-Two Interactive are set to open sharply lower after disappointing with their reports late on Monday. The house token of crypto exchange FTX crumbles another 20%, pulling Bitcoin and Ether down with it, and the U.S. government will publish its latest Short-Term Energy Outlook. Here's what you need to know in financial markets on Tuesday, 8th November. 1. Midterm elections hold fate of Biden's presidency, may trigger Trump's run in 2024 The U.S. holds midterm elections that may consign the rest of Joe Biden's presidency to lame-duck status, as voters punish the Democrats for presiding over the highest inflation in 40 years. Opinion polls give the Republican Party a good chance of regaining control of the House of Representatives. Control of the Senate split 50-50 since the 2020 elections may also tip back to the GOP and various state Governorships are also up for contention. The biggest subplot around the polls will be whether the GOP candidates most closely associated with former President Donald Trump perform more or less well than the norm. Trump again hinted heavily at announcing a presidential run in 2024 on Monday, and success by his acolytes may be the catalyst for such a move. Republican control of Congress would significantly restrict the administration's ability to enact any more radical fiscal measures until 2024. Internationally, its biggest consequence may be to reduce U.S. military and economic support for Ukraine, an issue that some Trumpist GOP candidates, in particular, have actively campaigned on. Story continues 2. Zhengzhou lockdown set to continue The city of Zhengzhou said the number of COVID cases more than doubled on Monday, dashing hopes for an early end of the lockdown that is affecting the world's largest iPhone assembly plant. The seven-day lockdown of the Airport Economy Zone is due to end on Wednesday but is now almost certain to be extended, causing further disruption to shipments of Apple's most important product in its most important quarter of the year. Apple (NASDAQ:AAPL) stock, which has lost over 10% since the outbreak started, edged up 0.2% in premarket. Separately, the Zhengzhou plant's owner Foxconn said it will invest $170 million in U.S.-based electric truck maker Lordstown Motors (NASDAQ:RIDE). 3. Stocks set to open flat; Take-Two, Lyft under pressure; Disney earnings lead a cast of thousands U.S. stock markets are set to open largely flat, as the post-payrolls rally since Friday takes a breather ahead of the midterm election results. By 06:05 ET (11:05 GMT), Dow Jones futures were up 30 points or 0.1%, while S&P 500 futures were also up 0.1%, and Nasdaq 100 futures were up 0.3%, helped by consolidation in chipmaking stocks and Big Tech names that suffered after their third quarter reports. Stocks likely to be in focus later include Take-Two Interactive (NASDAQ:TTWO), after the publisher of Grand Theft Auto cut its revenue forecasts for the current quarter late on Monday, and Lyft (NASDAQ:LYFT), which slumped 20% in premarket after reporting numbers that confirmed loss of market share to Uber (NYSE:UBER) in the last quarter. Walt Disney (NYSE:DIS) heads an earnings roster that stretches out to the crack of doom. It will report after the close, alongside Occidental Petroleum (NYSE:OXY), NortonLifeLock (NASDAQ:NLOK), and News Corp (NASDAQ:NWSA). Early updates are due from DuPont de Nemours (NYSE:DD), Norwegian Cruise Line (NYSE:NCLH), Coty (NYSE:COTY), Workhorse (NASDAQ:WKHS) and GlobalFoundries (NASDAQ:GFS), as well as mortgage institutions Freddie Mac (OTC:FMCC) and Fannie Mae. 4. Binance-FTX bust-up keeps the pressure on crypto The pressure on crypto exchange FTX intensified as heavy selling pushed its native token FTT down as much as 30% overnight. Bitcoin and Ether were also dragged down by over 5%. Blockchain analytics indicate large-scale redemptions of funds from FTX are continuing, triggered by rival Binance's decision at the weekend to liquidate its holdings of FTT, amid concerns over the underlying soundness of FTT. More and more commentators are casting the developments as an expression of deeper divisions between the owners of the two exchanges over the future regulation of crypto, especially in the U.S. where FTX's Sam Bankman-Fried has lobbied for draft legislation to take a stricter line on decentralized finance than many crypto enthusiasts would like. Binance founder Changpeng Zhao has played down this version of events, saying the move is just a risk management strategy. Bankman-Fried, however, tweeted on Monday that "A competitor is trying to go after us with false rumors." 5. Oil takes a breather; API, STEO due Crude oil prices corrected downward after days of healthy gains, as developments in China dented hopes for a quick end to the Zero-COVID policy. By 06:25 ET, U.S. crude futures were down 1.3% at $90.64 a barrel, while Brent futures were down 1.0% at $96.98 a barrel. The American Petroleum Institute releases weekly inventory data at 16:30 ET as usual, while the U.S. government will publish its latest Short-Term Energy Outlook at 12:00 ET. Related Articles U.S. midterm elections, Disney earnings, FTX-Binance spat - what's moving markets From Russia with cash: Georgia booms as Russians flee Putin's war Euro zone bonds wobble as central banks zero in on inflation || Biden Feud With Big Oil Ratchets Up Just as World Needs More US Oil: (Bloomberg) -- As October drew to a close, the White House saw another potential energy flash point on the horizon. Most Read from Bloomberg Twitter Now Asks Some Fired Workers to Please Come Back Ukraine Latest: US and Russia Discussed Containing War, WSJ Says Houston Moguls $75 Million Win on Astros Hits Caesars Hardest Putins Ukraine War Is Entering a Terrifying New Phase Methane Cloud Spotted by Satellite Near India Waste Site Diesel and heating oil inventories in the US Northeast were getting worryingly low. Officials swung into action, organizing a series of calls between Energy Secretary Jennifer Granholm and several of the countrys biggest oil refiners to discuss strategies to boost stockpiles. The tone was cordial, according to people with knowledge of the conversations. But the very next working day, the oil industry was blindsided. At a hastily arranged press conference on Oct. 31, President Joe Biden castigated Big Oil for handing outrageous profits to shareholders and executives rather than bringing down prices at the pump. Unless that changed, he warned, oil companies faced more taxes. Their profits are a windfall of war -- the windfall from the brutal conflict thats ravaging Ukraine and hurting tens of millions of people around the globe, he said. It was just the kind of whiplash that has repeatedly sown mistrust and stoked tensions with the fossil fuel industry over the course of the Biden administration, according to multiple interviews with executives and lobbyists involved in oil and gas, who declined to be identified because the meetings and conversations they described were private. Bidens team has been at odds with the industry since the 2020 election campaign. But as global energy prices spiked this year following Russias invasion of Ukraine, the White House called on Big Oil to help, only to grow increasingly frustrated that its holding back on production while reaping record earnings. Month after month, these companies have posted record profits that theyve then used to pad shareholder pockets rather than boost production and lower gas prices, said White House spokesman Abdullah Hasan. Month after month, weve offered them every opportunity and incentive to change their behavior. Story continues While they were never under any illusions about the presidents green ambitions, oil industry insiders say theyve become increasingly unhappy with a series of conflicting policy priorities -- for example, moving within a matter of months from a halt on federal leasing for oil drilling to demanding more production -- and unrealistic requests such as spending billions of dollars to rapidly add more refining capacity. Unwilling to act as fall guys for surging household fuel bills in the run-up to the midterm elections, typically low-profile industry figures are becoming more outspoken. Last week, the chief executive officers of Exxon Mobil Corp. and Chevron Corp. issued grave warnings about potential windfall taxes. Marshall McCrea, co-CEO of pipeline operator Energy Transfer LP, said this week that US energy policy is so all over the map that its becoming like a Saturday Night Live skit. Itd be funny if it wasnt so tragically sad, he added. For its part the administration says it has approved 9,000 drilling permits, released 180 million barrels of oil from the Strategic Petroleum Reserve and essentially provided a floor under the oil price with a commitment to repurchase crude at $70 a barrel. If they dont like the carrots approach, the president has made clear we can use sticks too, Hasan said. We will do what we need to do to support American families. The tensions come at a fraught moment for both the country and the rest of the world. President Vladimir Putins weaponization of Russias natural gas has left Europe facing a perilous winter. OPEC has been unwilling to ease a tight oil market; instead, last month, it defied US wishes by agreeing with Russia to reduce output. Recent history shows the US can play a vital role in ramping up oil production to ease prices and provide energy security. After all, the shale revolution added more crude to global markets than the entire production of Iraq and Iran combined from 2012 to 2020, making the US the biggest producer of both oil and gas. But to repeat that growth spurt again would require the right investor and policy support, as well as balancing increasingly ambitious US climate goals. So far the signs of that happening arent good. A lot of senior executives are kind of throwing in the towel with this White House, said Stephen Brown, an energy consultant who formerly served as head of federal affairs for refiner Andeavor. When we talk to folks inside the administration we hear things that are conciliatory toward establishing a relationship. And then you turn around and get hit between the eyes with a tweet. On Jan 20, 2020, his first day in office, Biden revoked a presidential permit for the Keystone XL pipeline, which would have allowed more Canadian crude to flow to Gulf Coast refineries. Days later, he issued a moratorium on new federal oil and gas leasing (later overturned in court). Executives in the shale patch were infuriated as some of the best well locations in the Permian Basin are on federal land in New Mexico. The message was clear: Biden and his progressive caucus would be no friend to the oil industry. As gasoline crossed the $3-a-gallon threshold in the middle of 2021, senior figures in the administration began paying more attention not only to the prices at the pump but also their role in pushing up inflation. A critical moment came in November last year, when Biden accused the industry of anti-consumer behavior and complained that gasoline prices remained high even though oil and gas companies costs are declining. Biden asked the Federal Trade Commission to investigate potential illegal conduct. The trust between industry and the administration has likely been deteriorating ever since, said Frank Macchiarola, senior vice president of policy at the American Petroleum Institute, a group representing the energy industry. Theres a lack of understanding of fundamentals of energy markets. By the time Russia invaded Ukraine in February, causing oil to spike to its highest since 2008, the White House had completed an about-turn from the earliest days of the presidency and was demanding the production of more oil and gas, rather than policies to curtail output. We are on a war footing, Granholm told executives assembled for the CERAWeek by S&P Global oil conference in Houston in March. But US producers, still battle-scarred from the height of the pandemic, when energy prices collapsed, were in no mood to cooperate. After a decade of poor returns for investors, a consensus had emerged on how to restore confidence stock prices: hold production flat and return as much cash as possible to shareholders. As inflation surged in the first half of 2022, it became clear that the White House had an economic crisis on its hands. No US president has been re-elected with gasoline prices above $4 a gallon. In June, the nationwide average touched $5. As analysts began pricing in record profits for Big Oil, Biden went on the attack. Were going to make sure everyone knows Exxons profits, he said at a press conference in Los Angeles. Exxon: Start investing and start paying your taxes, thanks. Exxon responded by saying it was investing heavily in the US and was working on a major Gulf Coast refinery expansion. But the narrative was now clear: Biden would be blaming Big Oil for high gasoline prices. Less than two weeks later, Biden summoned top oil executives to the Department of Energy in Washington to discuss the issue. For more than an hour, the CEOs talked with Granholm about the barriers to higher fuel production and the policy moves that could help pare costs. Granholm assured them that the administration wanted to collaborate. At one point, Wirth, the Chevron CEO, walked through the economics, logistics and constraints of US refining. Participants described the meeting as cordial and productive, a kind of olive branch offered to the industry after Bidens tongue-lashing. But it was a much different scene three months later when oil company officials met again with Granholm, National Economic Council Director Brian Deese, and Amos Hochstein, a senior energy adviser at the State Department. The Sept. 30, session -- initially expected to take an hour and billed as a discussion of fuel supplies in the wake of Hurricanes Fiona and Ian -- quickly devolved. There was little talk of the storms. One participant described it as a lecture from Granholm. Administration officials berated the group for selling fuel overseas instead of storing more in US tanks, and suggested that without voluntary industry action, the government could force companies to stockpile more domestically. At least one official blasted the companies for reaping high profits while failing to address low inventories. As Granholm and Hochstein pressed the companies to curtail fuel exports and explain how they would work to lower prices, the industry participants repeatedly raised objections, insisting they couldnt divulge those details in front of competitors. That kind of frank discussion could be a violation of US antitrust law, they argued. The meeting broke up less than half an hour after it began. Tensions between the US fossil fuel industry and a Democratic president were probably always to be expected, but the current clashes between both sides have been far more visible than when Barack Obama was president. I dont think they were warm and embracing, but they werent bristly toward the industry, Dan Eberhart, a Republican donor and CEO of an oilfield services company, said of the Obama administration. With nationwide average gasoline prices on the rise again -- reaching $3.79 a gallon on Nov. 3 -- and midterm elections now just days away, Biden appears to be in no mood to back down. Im working like hell to deal with the energy prices, Biden said Friday. Im going to have a little -- as they say -- come-to-the-Lord talk with the oil companies pretty soon. --With assistance from Justin Sink. (Updates with White House comment in 10th paragraph.) Most Read from Bloomberg Businessweek Seizing a Russian Superyacht Is Much More Complicated Than You Think El Salvadors $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 ©2022 Bloomberg L.P. || Argo Blockchain PLC Announces September Operational Update: September 2022 Operational Update
LONDON, UK / ACCESSWIRE / October 11, 2022 /Argo Blockchain plc, ("Argo" or "the Company") a global leader in cryptocurrency mining (LSE:ARB)(NASDAQ:ARBK), is pleased to provide the following operational update for September 2022.
During the month of September, Argo mined 215 Bitcoin or Bitcoin Equivalents (together, BTC) compared to 235 BTC in August 2022. The decrease in BTC mined is primarily due to a 12% increase in average network difficulty during September. Additionally, the Company is continuing to curtail operations at its Helios facility in Dickens County, Texas during periods of high electricity prices.
As of 30 September 2022, the Company held 512 Bitcoin, of which 167 were BTC Equivalents. The Company closely monitors market conditions and is actively using a variety of derivatives to manage BTC holdings and mitigate risk exposure.
Based on daily foreign exchange rates and cryptocurrency prices during the month, mining revenue in September amounted to £3.78 million [$4.27 million*] (August 2022: £4.39 million [$5.23 million*]). Argo generated this income at a Bitcoin and Bitcoin Equivalent Mining Margin (Mining Margin) of 25% for the month of September (an increase from 20% in August 2022).
The Company currently has 2.5 EH/s of total hashrate capacity and expects to complete the installation of its Bitmain S19J Pro machines by the end of October 2022. After accounting for the sale of 3,400 mining machines to a third party that was reported on 7 October 2022, the Company now expects to achieve a total hashrate capacity of 2.9 EH/s once the installation is complete.
Organisational Changes
Effective October 15, Perry Hothi is stepping down from his role as Chief Technology Officer at Argo and will serve as a transitional advisor to the Company. The technology function will be led by Jean Esquier, who currently serves as Vice President of Technology and Development.
In addition, the Company is excited to welcome Jason Zaluski to the team as Vice President of Mining. In this role. Jason will strengthen the Company's core team and focus on optimising operations of Argo's mining fleet. Jason brings tremendous experience in blockchain technology and Bitcoin mining, having previously worked at Hut 8 Mining as Vice President of Strategic Technologies.
Management Commentary
Peter Wall, Chief Executive Officer at Argo, said: "As another month of high energy prices and uncertain market conditions ended, Argo continues to execute on its plans to grow operations at Helios. We are nearing completion of the installation of our new Bitmain S19J Pro machines, which will increase our total hashrate capacity to 2.9 EH/s by the end of the month. This will represent a 81% increase in total hashrate capacity since Q1 2022. I continue to be proud of our team for its efforts to deliver long-term growth in the interest of our shareholders."
"Additionally, I'd like to thank Perry Hothi for his long years of service and great contribution to Argo," Wall continued. "Perry has been with us from the very beginning, and I wish him well as he moves on."
Perry Hothi, Chief Technology Officer at Argo, said, "I've decided to leave Argo because I believe the technology team is ready. I have accomplished everything I set out to do at Argo. Working with Jean and the rest of the technology team these last few years has been a once in a lifetime experience. I'm deeply grateful for their skill, heart, and friendship. It is their time now."
Non-IFRS Measures
Bitcoin and Bitcoin Equivalent Mining Margin is a financial measure not defined by IFRS. We believe Bitcoin and Bitcoin Equivalent Mining Margin has limitations as an analytical tool. In particular, Bitcoin and Bitcoin Equivalent Mining Margin excludes the depreciation of mining equipment and so does not reflect the full cost of our mining operations, and it also excludes the effects of fluctuations in the value of digital currencies and realized losses on the sale of digital assets, which affect our IFRS gross profit. This measure should not be considered as an alternative to gross margin determined in accordance with IFRS, or other IFRS measures. This measure is not necessarily comparable to similarly titled measures used by other companies. As a result, you should not consider this measure in isolation from, or as a substitute analysis for, our gross margin as determined in accordance with IFRS.
The following table shows a reconciliation of gross margin to Bitcoin and Bitcoin Equivalent Mining Margin, the most directly comparable IFRS measure, for the months of July 2022 and August 2022.
[["", "\u00a3 (000s)", "$ (000s)", "", "\u00a3 (000s)", "$ (000s)"], ["Gross (loss)", "(4,471)", "(5,334)", "", "(5,807)", "(6,560)"], ["Gross Margin", "(110%)", "(110%)", "", "(154%)", "(154%)"], ["Depreciation of mining equipment", "1,644", "1,961", "", "1,723", "1,947"], ["Change in fair value of digital currencies", "2,944", "3,512", "", "4,967", "5,611"], ["Realised loss on sale of digital currencies", "765", "913", "", "55", "62"], ["", "", "", "", ""], ["Mining Profit", "882", "1,052", "", "938", "1,060"], ["Bitcoin and Bitcoin Equivalent Mining Margin", "", "20%", "", "20%", "", "", "25%", "", "25%"]]
(1) Due to unfavourable changes in the fair value of BTC there was a loss on the change in fair value of digital currencies in August 2022 and September 2022.
* Dollar values translated from pound sterling into U.S. dollars using the noon buying rate of the Federal Reserve Bank of New York as at the applicable dates
Inside Information and Forward-Looking Statements
This announcement contains inside information and includes forward-looking statements which reflect the Company's or, as appropriate, the Directors' current views, interpretations, beliefs or expectations with respect to the Company's financial performance, business strategy and plans and objectives of management for future operations. These statements include forward-looking statements both with respect to the Company and the sector and industry in which the Company operates. Statements which include the words "expects", "intends", "plans", "believes", "projects", "anticipates", "will", "targets", "aims", "may", "would", "could", "continue", "estimate", "future", "opportunity", "potential" or, in each case, their negatives, and similar statements of a future or forward-looking nature identify forward-looking statements. All forward-looking statements address matters that involve risks and uncertainties because they relate to events that may or may not occur in the future. Forward-looking statements are not guarantees of future performance. Accordingly, there are or will be important factors that could cause the Company's actual results, prospects and performance to differ materially from those indicated in these statements. In addition, even if the Company's actual results, prospects and performance are consistent with the forward-looking statements contained in this document, those results may not be indicative of results in subsequent periods. These forward-looking statements speak only as of the date of this announcement. Subject to any obligations under the Prospectus Regulation Rules, the Market Abuse Regulation, the Listing Rules and the Disclosure and Transparency Rules and except as required by the FCA, the London Stock Exchange, the City Code or applicable law and regulations, the Company undertakes no obligation publicly to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. For a more complete discussion of factors that could cause our actual results to differ from those described in this announcement, please refer to the filings that Company makes from time to time with the United States Securities and Exchange Commission and the United Kingdom Financial Conduct Authority, including the section entitled "Risk Factors" in the Company's Registration Statement on Form F-1.
For further information please contact:
[{"Argo Blockchain": "Peter WallChief Executive", "": "via Tancredi +44 203 434 2334"}, {"Argo Blockchain": "finnCap Ltd", "": ""}, {"Argo Blockchain": "Corporate FinanceJonny Franklin-AdamsSeamus FrickerJoint Corporate BrokerSunila de Silva", "": "+44 207 220 0500"}, {"Argo Blockchain": "Tennyson Securities", "": ""}, {"Argo Blockchain": "Joint Corporate BrokerPeter Krens", "": "+44 207 186 9030"}, {"Argo Blockchain": "OTC Markets", "": ""}, {"Argo Blockchain": "Jonathan [email protected]", "": "+44 204 526 4581+44 7731 815 896"}, {"Argo Blockchain": "Tancredi Intelligent CommunicationUK & Europe Media Relations", "": ""}, {"Argo Blockchain": "Emma ValgimigliFabio Galloni-Roversi MonacoNasser [email protected]", "": "+44 7727 180 873+44 7888 672 701+44 7915 033 739"}]
About Argo:
Argo Blockchain plc is a dual-listed (LSE:ARB); (NASDAQ:ARBK) blockchain technology company focused on large-scale cryptocurrency mining. With its flagship mining facility in Texas, and offices in the US, Canada, and the UK, Argo's global, sustainable operations are predominantly powered by renewable energy. In 2021, Argo became the first climate positive cryptocurrency mining company, and a signatory to the Crypto Climate Accord. Argo also participates in several Web 3.0, DeFi and GameFi projects through its Argo Labs division, further contributing to its business operations, as well as the development of the cryptocurrency markets. For more information, visitwww.argoblockchain.com.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please [email protected] visitwww.rns.com.
SOURCE:Argo Blockchain PLC
View source version on accesswire.com:https://www.accesswire.com/719809/Argo-Blockchain-PLC-Announces-September-Operational-Update || 3 Dividend Stocks to Buy Before the Bull Market Returns: As we near the end of the third quarter, the U.S. stock market is approaching new lows. As volatility increases, investors are becoming more emotional as many portfolios continue to rack up losses. As a result, some investors are looking for safer places to put their money before the stock market rebounds. Specifically, they are seeking dividend stocks to buy before the bull market returns.
Dividend stocks can often be safe havens for investors, even if short-term selling pressures knock the share prices lower. The reason for that is simple: Companies good enough to consistently pay out dividends often have consistent businesses.
It takes discipline and consistency for companies to raise their dividends each year. In other words, their cash flow must be at least somewhat dependable, and their management must be fiscally responsible. The companies that are able to meet that criteria for decades do so because they have great businesses.
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Yet these stocks can often tumble because of the market’s selloff. With all of that in mind, let’s look at three dividend stocks to buy before the bull market returns.
[{"Ticker": "O", "Company": "Realty Income", "Current Price": "$60.86"}, {"Ticker": "HD", "Company": "Home Depot", "Current Price": "$270.90"}, {"Ticker": "JNJ", "Company": "Johnson & Johnson", "Current Price": "$166.23"}]
Source: Shutterstock
I had an alert set forRealty Income(NYSE:O) at $62 that went off late last week, as its shares continue to plunge lower. The stock has now fallen for six straight weeks and has suffered a peak-to-trough loss of 24.8% in that stretch. Ouch!
Higher interest rates and rising borrowing rates disproportionately impact real estate and REITs. Even though it’s one of the best operators in the space, Realty Income has come under pressure as a result of this trend.
That said, investors ought to consider Realty’s history. Known as “The Monthly Dividend Company,” O stock has become incredibly dependable over the decades. Not only does it pay a monthly dividend, but it has raised its dividend for 99 straight quarters.From the company:
“To date, the company has declared 627 consecutive common stock monthly dividends throughout its 53-year operating history and increased the dividend 117 times since Realty Income’s public listing in 1994.”
Now yielding 4.8%, Realty Income has not only paid a dividend, but it has raised its payout through the bear market of 2000 to 2002 and the Great Financial Crisis of 2008.
Source: Rob Wilson / Shutterstock.com
As previously noted, the housing and real estate markets are likely to come under pressure. The extent to which that will impactHome Depot(NYSE:HD),Lowe’s(NYSE:LOW) and other home improvement stores remains to be seen. Additionally, a recession may occur, negatively impacting consumer spending.
Yet at some point investors need to take a closer look at these companies. Specifically, Home Depot stock is down 36% from its high and has a 2.8% dividend yield.
There are companies growing more rapidly than Home Depot, but the stock trades at a reasonable valuation of 16 times analysts’ average 2022 earnings estimate, which calls for a 6.7% increase in its profits this year.
More impressively, the company has put a major focus on its dividend in recent years. Home Depot has raised its payout for 12 straight years, and its dividend has increased by an average of about 16% over the past five years. With a payout ratio of just 45%, its dividend should be safe even in the event of a drawn-out recession.
Investors who want to buy the shares of a company with a long history of dividend increases can consider buying Lowe’s shares even though it yields just 2.2%.
Source: Alexander Tolstykh / Shutterstock.com
There are so many great dividend stocks to buy before the bull market returns. Really, this list could include 15 or 20 stocks. Narrowing it down to just three names was not an easy task, butJohnson & Johnson(NYSE:JNJ) definitely has to be included.
The stock has been relatively resilient amid the bear market, as its shares are down “just” 10% from their all-time high. While a 10% decline is not normally good, consider that theS&P 500index has tumbled more than 23%.
The company has not only paid, butraisedits dividend, which currently yields 2.7%, for 59 consecutive years. Despite bear markets, high inflation, recessions and more, J&J has continued to pay out and raise its dividend. Analysts’ average estimates call for low-single-digit-percentage earnings and revenue growth this year.
But at this point, investors are accumulating JNJ stock because of its dependability and durability.
For example, earlier this month the companyannounceda $5 billion share buyback plan and reaffirmed its full-year guidance. Like I said: JNJ is dependable.
On the date of publication, Bret Kenwell 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.
Bret Kenwell is the manager and author ofFuture Blue Chipsand is on Twitter@BretKenwell.
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The post3 Dividend Stocks to Buy Before the Bull Market Returnsappeared first onInvestorPlace. || FTX Balances Tumbled 87% in 5 Days in Epic Crypto Deposit Run, Data Shows: Withdrawals from the FTX crypto exchange were sorapid and viciousthat the overall balance of digital assets on the venue has tumbled 87% over the past five days, data shows.
The blockchain-era version of an epic bank run culminated Nov. 8 when the exchange led by Sam Bankman-Fried announced ahalt to withdrawals. (On Thursday there were fresh reports that some withdrawal requests weresuddenly getting processed, although someTwitter posterswrote that they have since been shut off.)
Thedata, from Arkham Intelligence, might be a conservative estimate of FTX’s balance history because there may be wallet addresses that haven’t been disclosed to the public.
FTX’s average total balances between Oct. 1 and Nov. 4 was $7.9 billion, and stood at $8.4 billion as of Nov. 5, Arkham data shows. The balances then dropped considerably to $1.1 billion as of Nov. 10.
The rush for the exits coincided with a steep plunge in the price of the FTX’s in-house exchange token, FTT.
From Oct. 1 through Nov. 4, theFTT priceranged from a lower bound of $22 and an upper bound of $26. Then, all of a sudden, the floor fell out: FTT had sunk to about $2 as of press time.
Sam Bankman-Fried (SBF)tweeted Thursdaythat FTX “saw roughly $5 [billion] of withdrawals on Sunday.”
The immense scope of thisblack swan-style event serves as a key reminder of just how rapidly confidence can erode in the parallel financial universe of digital assets – where there areno central banks to bail out the key players– as happened in 2008 whennearly all of Wall Street ran short of liquidityand had to turn to the Federal Reserve for emergency funding.
Drilling down, the balance of ether (ETH) on FTX has fallen some 88%, according to the blockchain analytics firm Nansen.
As of Nov. 10 at press time, FTX holds 50,544.94 ETH ($66.5 million) at time of press, down from 429,210.46 ETH ($564.8 million) on Nov. 4, the data shows.
From Oct. 21 to Nov. 4, users deposited 290,820 ETH and withdrew 15,803 ETH. With 18.4x more ETH deposits than withdrawals in that time period, user confidence in FTX was solid, but this rapidly changed.
It is no surprise FTX’s bitcoin (BTC) balance also took a sharp fall.
Even as bitcoin’s price held steady around $20,000 earlier in the week, FTX’s BTC holdings started nosediving on Nov. 7, according todata from Coinglass. FTX held 21,850 bitcoins across all exchanges on Nov. 6, and by the next day, FTX’s balance dropped to virtually nil.
Around the same time, bitcoin’s price started falling, as crypto analysts fretted that larger cryptocurrencies might get caught up in a broader wave of selling across digital-asset markets.
On Nov. 6, BTC was changing hands around the $21,000 level. It tumbled close to $15,000, but had recovered to about $17,400 as of press time.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 16687.52, 16697.78, 16711.55, 16291.83, 15787.28, 16189.77, 16610.71, 16604.46, 16521.84, 16464.28
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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]
Not fully available.
[Random Sample of News (last 60 days)]
Where Will Ferrellgas Partners Be in 1 Year?: Winter is coming. While some individuals might be inconvenienced by the morning ritual of snow and ice removal, the change in seasons has relatively minor consequences in the grand scheme of things. Unfortunately, that's not the case for propane distributorFerrellgas Partners(NYSE: FGP), which may very well face existential circumstances depending on the strength of its business this winter.
The owner of the Blue Rhino brand of exchangeable propane tanks is in a perilous position. Operating expenses are rising faster than income as the business bets big on growth that has yet to materialize, which has many investors questioning the sanity of the strategy. After all, the business has seen its interest payments and long-term debt double since 2014, while it hasn't turned a profit since fiscal 2015. It sports a book value ofnegative$1 billion.
Given the recent stock plunge and hints that the business may not be able to keep its lofty distribution going much longer, investors may be wondering: Where will Ferrellgas Partners be in one year? As it turns out, winter could mean everything.
Image source: Getty Images.
The writing has been on the wall for Ferrellgas Partners for some time now. The business's filings with the Securities and Exchange Commission in the last couple of years show that debt covenants required it to drastically reduce its leverage ratio (earnings to debt) by July 2018, or the end of its fiscal 2018. The trajectory of operations in recent quartersmade it abundantly clearthe company would fail to meet the deadline.
And that's exactly what happened. Ferrellgas Partners recently disclosed that its distribution was on shaky ground because it ran afoul of debt covenants, bringing back memories of the 80% reduction in distribution payouts that occurred in 2016. More worrisome, investors who take a look at the company's performance in fiscal 2018 won't find much reason for optimism:
[{"Metric": "Total revenue", "Fiscal 2018": "$2.07 billion", "Fiscal 2017": "$1.93 billion", "Change (YOY)": "7.2%"}, {"Metric": "Operating income, propane business", "Fiscal 2018": "$167.8 million", "Fiscal 2017": "$187.9 million", "Change (YOY)": "(10.7%)"}, {"Metric": "Cash available for distribution (CAFD)", "Fiscal 2018": "$61.6 million", "Fiscal 2017": "$75.6 million", "Change (YOY)": "(18.5%)"}, {"Metric": "Distribution payments made", "Fiscal 2018": "$38.8 million", "Fiscal 2017": "$78.9 million", "Change (YOY)": "(50.8%)"}, {"Metric": "Interest expense", "Fiscal 2018": "$168.5 million", "Fiscal 2017": "$152.5 million", "Change (YOY)": "10.4%"}, {"Metric": "Long-term debt", "Fiscal 2018": "$2.08 billion", "Fiscal 2017": "$1.99 billion", "Change (YOY)": "4.2%"}]
Data source: SEC filings. YOY = year over year.
Simply put, Ferrellgas Partners should not be prioritizing distribution payments right now, although even suspending payments is unlikely to provide enough extra cash to dig the business out of its hole. There's been barely any progress on debt, while core operations (read: propane) are actually less profitable compared to the year-ago period. While that's due to a surge in operating expenses aimed at growing the propane business, and volumes sold are in fact growing, the timing of plowing money into growth is questionable at best. Eventually, the strategy will need to yield results, and that's largely dependent on a cooperating climate.
Unfortunately for the business and its unitholders, Mother Nature might prove pretty uncooperative once again this year. The National Oceanic and Atmospheric Administration is expecting a warmer winter for most of the United States,including the Midwest, where most of the company's customers are located.
Image source: Getty Images.
Given the toxicity of the balance sheet and the near-absolute absence of negotiating power with creditors due to worsening operating metrics, a warmer-than-average winter could even push Ferrellgas Partners into more drastic measureslike a saleor potential bankruptcy. The numbers don't point to any other way to relieve the financial burden in that scenario.
At this point most investors have lost confidence in Ferrellgas Partners, which has seen its stock fall 66% in the last year. The business now sports a market cap of just $144 million. So although the distribution yield has jumped to an incredible 25%, that's a sign of the incredible risk of owning shares in the company. Investors should stay far away from this stock.
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Maxx Chatskohas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || BitPay Integrates PAX Stablecoin Into Cryptocurrency Payment Platform: BitPay Integrates PAX Stablecoin Into Cryptocurrency Payment Platform Bitcoin payment platform BitPay is now going to allow payments with the Paxos Standard token (PAX) , which it calls the fastest growing stablecoin and the highest trading volume of any U.S. dollar-backed stablecoin. Although BitPay has previously integrated a number of different cryptocurrencies in its platform, such a widely trafficked stablecoin (the first of its kind to see support from the payment platform) holds certain distinct advantages, namely regulatory compliance and a stable value. Seeing as each PAX token represents $1, merchants and customers might feel more comfortable transacting the token in lieu of other cryptocurrencies, which are often subject to volatile price swings. An important credential that comes with PAXs name is its regulatory compliance, as it is issued directly by a regulated Trust company and is approved for issuance by the New York State Department Financial Services. Although there are several prominent stablecoins in the space, Paxos is the first to have this level of authenticity. The release commented little on the future plans of BitPays new partnership, but the adoption of a prominent stablecoin is a logical next move. Stablecoins have recently been drawing the interest of the space, with more and more attempts to launch cryptocurrencies that can successfully maintain a peg with fiat. Combining the most prominent sales platform for cryptocurrency with a fast-growing and well-regulated stablecoin is an advantageous match, one that would ideally attract more merchants and consumers to the platform now that they have a price stable cryptocurrency to transact. This article originally appeared on Bitcoin Magazine . || Bitcoin Price Stabilizes above $3,500 as CME Futures Expiry Approach: Bitcoin price steady Bitcoin on Tuesday showed some signs of bottoming out as it consolidated sideways a little above $3,500, its psychological support. The BTC/USD is now trading at 3734-fiat, up 1.58% from the previous day close . Meanwhile, the pair is trading inside a range that is no more than $230 wide. Though volatile, the choppy price action is still stable compared to Bitcoins performance in the past two weeks. The CME Bitcoin Futures are also going to expire this week on Friday. Tom Lee from Fundstrat had earlier noted that volatility in Bitcoin spot market increases every time a contract heads towards its expiry date. Eventually, the price does down, finds a support and picks up again soon after the expiry date. It is expected that BTC/USD will once again test new support levels perhaps towards 3000-3500-fiat range even without any influence from the futures contracts, before it rebounds. The US Dollar, meanwhile, established its two-week high after President Donald Trump threatened China of higher trade tariffs. It could make investors hold on their greenbacks and avoid liquidating for quoted assets, including stocks, commodities and even crypto. As of now, the pressure is visibly on 3500-fiat to hold what is the minimum bullish presence in the bitcoin market. The BTC/USD pair is already trending inside a downward parallel channel, now the midst of two equally strong levels. The prevailing bearish momentum could allow the pair to test the channel support first and then could see a rebound towards the channel resistance. In another scenario, BTC/USD could break below the channel support and continue its fall to find next support at 3000-fiat. The bearish bias is also visible in the RSI momentum indicator which has reversed from 45 already, proving a selling sentiment. The MACD, for now, is placed slightly inside a bullish zone albeit hinting a reversal anytime soon. BTC/USD Intraday Analysis The BTC/USD in near-term is trending inside a symmetric triangle, giving plenty of exit and entry hints for day traders and take out attractive intraday profits. We are now reversing from the triangle resistance, which has allowed us to enter a short position towards the triangle support. A further break below the said support would have us open another short, this time towards 3560-fiat. In both the positions, we will be maintaining our stop losses just 4-5 dollar above the entry point. It will help us avoid getting chopped during an unexpected price action. Story continues Looking the other way, a break above the triangle resistance would have us target the 200-period exponential moving average as an intermediate upside target. A further break and we would have another long opportunity towards 3818-fiat. In both the positions, a stop loss just 4-5 dollar below the entry point will define our risk management perspective. Trade safely! Featured image from Shutterstock. The post Bitcoin Price Stabilizes above $3,500 as CME Futures Expiry Approach appeared first on CCN . || Fed Rate Hikes: Any Surprises?: The US dollar has turned to growth last week following its previous decline in uncertainty. First of all, the risks of unpleasant surprises due to the elections are now gone and the results were close to predictions. Often, subsequent to elections, the currency, and stock market of the country experience some upswing, which was also evident this time, since key American indices added more than 2%. Despite a small decline immediately after the announcement of the election results, the U.S. dollar has turned to growth, adding 1.2% to the Wednesday lows. The growth wave of the dollar on Thursday supported the Fed. Keeping the policy unchanged, the U.S. Central Bank called the economy “strong” and highlighted the need to maintain its course to gradual rates hiking. Regarding the comments relating to the decision, there was only one cautions moment, about slowing business investments. Such an approach has caused yield growth for short-term government bonds that support demand for a dollar as a more yielded currency. The increase in the dollar due to higher interest rates usually has a negative impact on the demand for developing country currencies and commodities. This week we saw a decrease there, despite the growing demand for risks at American exchanges. It won’t be surprising to witness the development of this trend soon, as the events with the greatest potential risks for the dollar (Employment report, Elections, FOMC decision) are already behind. At the same time, it is worth mentioning that over the past month the markets have become less believing that the Fed will produce more than three increases in rates next year. Latest data from CME’s FedWatch tool indicate that investors are considering a 27.8% chance to see more than three hikes, against 31.5% a month earlier. Empowering of this trend could undermine the dollar belief over the long-term perspective. This article was written by FxPro Story continues This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Cash, Litecoin and Ripple Daily Analysis – 11/11/18 USD/JPY Forex Technical Analysis – In Position to Challenge One-Year High at 114.728 Bitcoin – Bulls Try To Support, But Negative Bias Remains Strength in Dollar Driven by Hawkish Fed, Safe-Haven Buying NZD/USD Forex Technical Analysis – Weekly Outlook: Sustained Move Under .6742 Will Signal Return of Sellers Bitcoin Cash, Litecoin and Ripple Daily Analysis – 10/11/18 || Backlash after US Elections Board Green Lights Crypto Mining for Political Campaigns: gpu crypto mining The US Federal Election Commission (FEC) issued an advisory opinion that would allow individuals to contribute to political campaigns by donating their computer power to mine crypto for their favorite candidates. The decision comes as American politicians are gearing up for the 2020 US presidential election, which quietly kicked off after the November 2018 midterm elections concluded. In its November 13 memorandum , the FEC said that it’s permissible for an individual to lend his computer processing power to a crypto mining pool to benefit his preferred political candidate. However, the commission underscored that the act counts as a campaign “contribution” — and is not considered “volunteering.” Politics and Crypto Converge The FEC was responding to a request by OsiaNetwork LLC, an obscure Delaware corporation that wants to serve as a platform through which people can donate their computing power to mine cryptocurrencies for political committees. Basically, OsiaNetwork is trying to monetize the political fundraising process by charging campaigns to act as a platform for crypto mining pools. “OsiaNetwork will allocate the mining rewards it receives among its clients ‘proportionately to the number of hashes that each committee’s volunteers generate in order to solve the block that generates the mining reward,” according to the FEC memo. Controversy is brewing after the FEC considers allowing crypto mining for political contributions. | Source: Pixabay And here’s how it gets paid: “OsiaNetwork will then subtract its processing fee and transfer to each political committee funds in United States currency equivalent to the cryptocurrency value allocated to that committee.” While OsiaNetwork had asked that the activity be considered “volunteering,” the FEC ruled that donating your computer power for crypto mining is a political “contribution” — it is not “volunteering.” “It does not fall within the volunteer internet activities exception, and would result in contributions from both the individuals and OsiaNetwork to the participating political committees,” the FEC wrote. Story continues Logically, this makes sense because it costs money to mine crypto, as CCN reported . Activist: FEC May Be ‘Bamboozled’ The FEC memorandum has already fueled some backlash. The Center for Public Integrity, a liberal watchdog, said allowing crypto mining in political fundraising raises transparency issues. Ronald Fein, the legal director for Free Speech For People (whose goal is to limit campaign spending), is worried that FEC officials are clueless about crypto. “We worry that some members of the FEC may not have technical backgrounds and be bamboozled by this,” Fein told the Center for Public Integrity on Nov. 19. Source: Bloomberg Fein’s group sent a letter to the FEC opposing OsiaNetwork’s request. Specifically, Fein is concerned that shady political candidates will use crypto mining to bypass campaign finance rules limiting contributions to $2,700 per person. “The request seems deceptive, in that it’s proposing something that seems like a modest extension of past opinions, but in reality would create a loophole to exploit and bypass all campaign contributions,” Fein said. 9 Federal Candidates Accepted Crypto In 2018 The FEC began allowing bitcoin donations to political campaigns in 2014. In the 2017-2018 election cycle, nine federal candidates received a combined total of $570,000 in cryptocurrency donations, according to public records. In 2016, Sen. Rand Paul of Kentucky made history when he became the first U.S. presidential candidate to accept bitcoin to fund his campaign, as CCN reported. Ex-Bitcoin Skeptic Ron Paul Says Crypto Could Prevent Recession https://t.co/1HLxDRwQQ9 — CCN (@CryptoCoinsNews) October 31, 2018 Paul is a Republican by party affiliation, but a libertarian by personal philosophy, so it’s no surprise that he embraces virtual currencies. Rand Paul’s father, former US Congressman Ron Paul, was once a bitcoin skeptic who’s now calling for a tax exemption on all cryptocurrencies. He says the move could prevent a recession . Featured Image from Shutterstock The post Backlash after US Elections Board Green Lights Crypto Mining for Political Campaigns appeared first on CCN . || GLOBAL MARKETS-Asia shares absorb Nvidia blow, sterling licks its wounds: * Asian stock markets : https://tmsnrt.rs/2zpUAr4 * Nasdaq futures fall as Nvidia shares dive 17 pct on poor results * Nikkei subdued, Asia shares ex-Japan edge up * Pound shaky after hammering on UK political chaos * Oil tries to find footing after recent collapse By Wayne Cole SYDNEY, Nov 16 (Reuters) - Asian share markets turned mixed on Friday as hopes for a thaw in the Sino-U.S. trade standoff were tempered by disappointing results from U.S. chipmaker Nvidia Corp which slugged the tech sector. The British pound also lay battered and bruised after a bout of political turmoil fanned fears the country could crash out of the European Union without a divorce deal. Asian shares had started firm after reports the United States might pause on further China tariffs gave Wall Street a fillip, but a near 17 percent plunge in Nvidia's stock tempered the mood. The chip designer forecast disappointing sales for the holiday quarter, pinning the blame on unsold chips piling up with distributors and retailers after the evaporation of the cryptocurrency mining boom. Also falling after-hours were shares of Advanced Micro Devices and Intel. Losses in semi-conductor shares dragged Japan's Nikkei down 0.1 percent, while Nasdaq futures fell 0.5 percent. "It started with Apple, then Nvidia... Since performances of these companies set the tone for the global tech and chip industries, related Japanese stocks will likely be sluggish for a while," said Takatoshi Itoshima, a strategist at Pictet Asset Management. MSCI's broadest index of Asia-Pacific shares outside Japan were still up 0.3 percent, helped by gains in China. European bourses also looked set to start firmer according to spreadbetters. POUNDED Sterling had stolen the limelight overnight after a rash of resignations rocked Prime Minister Theresa May's government and threw into doubt her long-awaited Brexit agreement just hours after it was unveiled. Fears that May's hard-fought deal could collapse sent British markets into gyrations not seen since the June 2016 referendum on EU membership. The pound suffered its biggest one-day loss against the euro since October 2016 and was last at 88.60 pence. Against the dollar, it was huddled at $1.2790 after shedding 1.6 percent overnight. Joseph Capurso, a senior currency strategist at CBA, listed just some of sterling's woes. "If and when a vote on the withdrawal agreement occurs is uncertain. Whether the withdrawal bill is passed by both houses of Parliament is uncertain," Capurso said in a note. "Whether the Prime Minister resigns or is challenged for the leadership is uncertain. And, whether there is a second referendum and/or an election is uncertain." Story continues All of which helped British bonds rally sharply as investors wagered the political chaos and risk of a hard Brexit would deter the Bank of England from tightening anytime soon. Yields on 5-year paper staged the largest one-day decline since the Brexit vote, at almost 15 basis points. The plunge in sterling lifted the dollar against a basket of currencies to 96.993, even as the euro firmed a touch to $1.1333. Also under water was the crypto currency Bitcoin, which hit a one-year trough overnight after tumbling 10 percent early in the week when support at $6,000 gave way. It was last changing hands at $5,560.73 on the Bitstamp platform. In commodity markets, gold was up a shade at $1,214.30 . Oil prices regained a little composure after their recent drubbing, helped by a decline in U.S. fuel stockpiles and the possibility of a cut in OPEC output. U.S. crude was trading up 40 cents at $56.86, while Brent crude rose 52 cents to $67.14 a barrel. (Editing by Sam Holmes and Richard Borsuk) View comments || Bitcoin Rally Ends as South Korean Lawyers Ask for Crypto Regulation: Investing.com - Cryptocurrency prices were lower on Thursday, as South Korea’s lawyers urged the government to pass a legal framework for digital coins.
The Korean Bar Association lobbied the government on Thursday, saying legislation was needed to promote the industry and protect consumers.
“We urge the government to break away from negative perceptions and hesitation, and draw up bills to help develop the blockchain industry and prevent side effects involving cryptocurrencies,” Bar Association President Kim Hyun said.
It is rare for the association, of which all local lawyers are a mandatory member, to campaign for interest groups, Reuters reported.
South Korea has said it will decide on blockchain regulation once a current study on the field is complete.
Bitcoin fell 0.50% to $6,545.50 on the Bitfinex exchange, as of 8:38 AM ET (13:38 GMT).
Cryptocurrencies overall were slightly lower, with the total coin market capitalization at $217 billion at the time of writing, compared to $219 billion on Wednesday.
Ethereum,or Ether, decreased 2.20% to $217.42 and Litecoin was at $54.214, down 2.03% while XRP slumped 4.27% to $0.51874.
In other news, Deputy Prime Minister of Thailand Wissanu Krea-ngam wants more regulations on virtual coins. Krea-ngam thinks new measures are necessary both domestically and internationally in order to protect consumer security, the Bangkok Post reported.
"The laws need to be amended in the future so that we can better keep up with technological changes," Krea-ngam said.
On Wednesday the Thai government revealed plans to use blockchain technology to track tax payments. Thailand introduced a regulatory framework for crypots earlier in the year.
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Chinese School Principals Caught Mining Ethereum At Work || US Bills Seeks to Protect Cryptocurrency Investors from Market Manipulation: Congress bitcoin blockchain cryptocurrency Two US congressmen introduced bipartisan legislation designed to prevent cryptocurrency price manipulation and position the United States as a leader in the crypto industry. Democrat Rep. Darren Soto of Florida and Republican Rep. Ted Budd of North Carolina unveiled the following bills: Virtual Currency Consumer Protection Act . This bill directs the CFTC to explain how price manipulation occurs and to recommend regulatory changes to prevent it. Virtual Currency Market and Regulatory Competitiveness Act . This law directs the CFTC to conduct a comparative study of crypto regulations in other countries and to recommend ways to make the United States more competitive by providing regulatory clarity and finding alternatives to burdensome laws that impede innovation. Lawmakers: Crypto Can Drive Economic Growth In a joint statement released December 6, Rep. Darren Soto and Rep. Ted Budd underscored the “profound potential” of cryptocurrencies and blockchain, the technology underpinning bitcoin. “Virtual currencies and the underlying blockchain technology has a profound potential to be a driver of economic growth,” the congressmen said. “That’s why we must ensure that the United States is at the forefront.” Soto and Budd said the laws they proposed would protect consumers and investors without dampening the “environment of innovation” that would maximize the potential of these groundbreaking technologies. DOJ Probes Bitcoin Price Manipulation bitcoin price In September 2018, the New York Attorney General’s Office released a report concluding that some cryptocurrency exchanges can easily be manipulated because they lack sufficient consumer protections, are riddled with conflicts of interest, and don’t have safeguards to prevent abusive trading. “Platforms lack robust real-time and historical market surveillance capabilities — like those found in traditional trading venues — to identify and stop suspicious trading patterns,” the report said. Story continues In November 2018, the US Department of Justice launched a criminal investigation into whether the cryptocurrency market’s spectacular price spike in 2017 was manipulated using tether (USDT). The DOJ probe came five months after a University of Texas finance professor published a report claiming that at least 50 percent of the increase in bitcoin’s price in 2017 was artificially manipulated using tether. Report: Bitcoin Price Was Artificially Inflated In his damning 66-page research paper entitled “ Is Bitcoin Really Un-Tethered? “ , Professor John M. Griffin said trading patterns suggest there was coordinated manipulation designed to keep bitcoin prices artificially high. Griffin — who specializes in spotting financial fraud — claimed tether was used numerous times to buy bitcoin on Bitfinex after its price slipped. “It was creating price support for bitcoin, and over the period that we examined, had huge price effects,” Professor Griffin said. “Our research would indicate that there are sophisticated people harnessing investor interest for their benefit.” Others, though, have questioned this thesis. Tom Lee: Keep Calm and Hodl On While skeptics point to regulatory crackdowns to discredit the industry, bitcoin bulls like the Winklevoss twins and Fundstrat’s Tom Lee welcome regulatory scrutiny , saying it will help — not hurt — the industry by ridding it of scam artists. This, in turn, will legitimize the market, they argue. “Do I think bitcoin as a long-term fundamental story is broken? I don’t think so,” Lee said. “Price at the moment isn’t confirming fundamentals.” Bitcoin plunged 16% Tuesday and fell as low as $4,200.22. Crypto evangelist Tom Lee joined us to discuss why he is lowering his bitcoin price target to $15,000 from $25,000. https://t.co/H04pEqEm7v pic.twitter.com/AZ2zQZWcea — CNBC (@CNBC) November 20, 2018 Lee also pointed out that bitcoin’s market penetration is gradually increasing, despite recent setbacks. “The next wave of adoption is institutional,” he said. “There is a crossover happening. This is just an awkward transition.” Featured Image from Shutterstock. Charts from TradingView . The post US Bills Seeks to Protect Cryptocurrency Investors from Market Manipulation appeared first on CCN . || Bitcoin Mining Consumes Over 3X the Energy of Gold Mining: Research: A new paper indicates that the energy required to mine cryptocurrencies is more than what is consumed when excavating for metals of equivalent dollar value.
In thepaperwhich was published on November 5 by the Nature journal, researchers at the Cincinnati, Ohio-based Oak Ridge Institute noted that bitcoin consumes more than three times the energy taken to produce an equivalent value ofgoldin dollar terms.
According to the report, between the beginning of 2016 and mid this year, the energy required to mine bitcoin worth US$1 was 17 megajoules while the energy required to mine gold of the equivalent dollar value was 5 megajoules. Other cryptocurrencies such as litecoin, ethereum andmoneroalso required more energy to mine than gold of equivalent value.
The only metals whose mining process consumed more energy than the equivalent dollar value of bitcoin and the three other major cryptocurrencies were aluminum, which required 122 megajoules, and rare earth oxides (REOs), which required 9 megajoules. Platinum Group Metals (PGMs) consumed just as much energy as what it took to mine ethereum and litecoin – 7 megajoules.
“As an average of all days from 1 January 2016 to 30 June 2018, to generate US$1, we estimate that Bitcoin, Ethereum, Litecoin and Monero mining required 17, 7, 7 and 14 MJ, respectively. In comparison, we estimate that mining aluminum, copper, gold, PGMs and REOs required 122, 4, 5, 7 and 9 MJ to generate US$1,” noted the paper titled ‘Quantification of energy and carbon costs for mining cryptocurrencies’.
Additionally, the paper observed that the carbon footprint left by the mining of cryptocurrencies is dependent on the country where the activity is taking place. WithCanadapossessing cheaper and cleaner energy than China, for instance, crypto mining in the latter was found to be releasing four times the carbon emissions of the former on average.
Unlike another recent research paper which painted a doomsday scenario projecting that themining of cryptocurrencies will have catastrophic effectson the environment, the paper written by Max J. Krause and Thabet Tolaymat, instead notes that the adoption of new technologies could minimize the impact citing the example of Monero’s hard fork and the planned change in the consensus mechanism of Ethereum:
“…Monero’s hard fork … on 6 April 2018, … indicates a considerable drop in network energy demand. Moreover, Ethereum’s future move to proof-of-stake could reduce long-term network energy requirements. Therefore, future environmental impacts for any of the cryptocurrencies on a per-coin-mined basis may be greater or less than those determined in our current assessment.”
The Oak Ridge Institute study comes around two months since it was reported that themining of goldrequires 20 times more energy than bitcoin.
https://twitter.com/CryptoCoinsNews/status/1040671528797577216
However, as noted at the time, the figure did not compare the equivalent dollar value of what was mined but rather the total amount of energy consumed in mining bitcoin versus what was expended in producing gold per year. The value of gold or bitcoin produced in the estimate was thus not taken into account.
Featured image from Shutterstock.
The postBitcoin Mining Consumes Over 3X the Energy of Gold Mining: Researchappeared first onCCN. || Bloodbath: Crypto Market Drops in $8B Wipeout; Bitcoin Cash Down 24.4% in 1 Week: Over the past 12 hours, more than $8 billion was wiped out from the crypto market, as several major digital assets including Bitcoin Cash (BCH) and Stellar (XLM) suffered.
For the first time in the past ten days, the price of BCH has dropped below the $500 mark to $480. Within the past week, after securing a monthly high at $630, BCH has dropped by more than 24.4 percent.
Prior to a hard fork, especially a contentious hard fork in which a chain split is almost guaranteed, investors tend to buy a significant amount of the cryptocurrency that is expected to fork. When the chain splits, investors receive both cryptocurrencies from the hard fork, as seen in the case of Bitcoin and Bitcoin Cash in August 2017.
Hence, prior to the scheduled November 15 hard fork, the price of Bitcoin Cash increased by more than 50 percent, as Bitcoin Cash SV, a camp led by Craig Steven Wright (CSW), Coingeek, and Calvin Ayre, announced its plans to hard fork.
Tomorrow, the Bitcoin Cash network hard forks. As such, a further increase in price was expected given that following the hard fork, BCH holders will be able to obtain BCH SV at a 1:1 ratio.
However, with one day left before the scheduled hard fork, BCH recorded a large drop of over seven percent and experienced one of its most intense sell-offs in recent months.
It is possible that the conflict between the Bitcoin SV camp and the Bitcoin Cash camp, which has become personal amongst the key figures involved primarily due to the threats made by CSW against developers and miners on the original Bitcoin Cash network, led investors to lose confidence in the short-term trend of the asset.
As CCN reported on November 9, CSWsaid:
“I will ensure that ANY miner passing DSV can be held liable (under the law of the UK, China and US, they can be) The end will be a drop in value for those using DSV And, I will help ensure those who lose claim against this act. The developers in ABC will be able to be held personally liable. Oh… I do have a Masters in Law on just this area.”
The short-term downward price trend of BCH intensified as an increasing number of traders started to short BCH on BitMEX. If BCH had rebounded swiftly, a short squeeze could have led to a speedy recovery. But, a lack of momentum and the sheer intensity of the sell-off led BCH to lose nearly 30 percent of its value within the past eight to nine days.
Bitcoin SV has taken over Bitcoin Cash on Poloniex, one of the few exchanges allowing early margin trading on the yet to be released SV.
The short-term trend of BCH mostly depends on the ability of the market to initiate a corrective rally in the next 12 to 24 hours, but it is unlikely under current market conditions.
Featured image from Shutterstock.
The postBloodbath: Crypto Market Drops in $8B Wipeout; Bitcoin Cash Down 24.4% in 1 Weekappeared first onCCN.
[Random Sample of Social Media Buzz (last 60 days)]
2019 ocak —> 3.000/4.000
2019 haziran —> 6.000/7.000
2020 ocak —> 11.000/12.000
2020 haziran —> 18.000/19.000
2021 ocak —> 45.000/50.000
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$QKC $TNT $TRX $TUSD $VET $VIA $VIB $VIBE $WABI $WAN $WAVES $WINGS $WPR $WTC $XEM $XLN $XMR $XRP $XVG $YOYO $ZEC $ZEN $ZIL $ZRX || #ETF #bitcoin #crypto #marketshttps://www.cnbc.com/2018/11/27/sec-wants-key-upgrades-in-crypto-markets-before-approving-bitcoin-etf.html … || seems like bitcoin knew about dovish Fed before equities || 2018/11/08 06:00
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1位 #HOT 0.00000016 BTC(0.12円)
2位 #NPXS 0.00000023 BTC(0.17円)
3位 #DENT 0.00000040 BTC(0.29円)
4位 #NCASH 0.00000078 BTC(0.57円)
5位 #SC 0.00000098 BTC(0.72円)
#仮想通貨 #アルトコイン #草コイン || #CriptoDolar #Bitcoin
#13Nov 04:11:00 PM
#BTC 6,377.9 USD | 0.24%
#ETH 207.49 USD | 0.22%
#DASH 160.77 USD | 0.18%
#PAB BTC 6,240 PAB
#USD BTC 6,423.91 USD
#EUR BTC 5,920.39 EUR
#VES BTC 1,733,503 BS
#VESUSD 274 BS #VEN || Sign up using my invite link and we’ll both receive ZAR 10.00 worth of Bitcoin when you deposit money into your Luno wallet and buy or sell Bitcoin to the value of ZAR 500.00 (Luno exchange not included): https://www.luno.com/invite/UX6SG || 2018-11-19 12:48:30.002577Z #Ripple #XRP:$0.48, Vol:27708699, High:$0.52, Low:$0.46. #BTC:$5234.00 #ETH:$154.60 #LTC:$37.86 || Onlara teşvik bir şey gelecektir de sıraya girmişlerdir:)
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Trend: up || Prices: 3252.84, 3545.86, 3696.06, 3745.95, 4134.44, 3896.54, 4014.18, 3998.98, 4078.60, 3815.49
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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 2016-04-28]
BTC Price: 449.01, BTC RSI: 58.92
Gold Price: 1265.50, Gold RSI: 59.72
Oil Price: 46.03, Oil RSI: 69.91
[Random Sample of News (last 60 days)]
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SOURCE:HashFlare || Former regulator turns Bitcoin tech advocate: By Mike Kentz
NEW YORK, April 13 (IFR) - Former New York state financial services chief Benjamin Lawsky may have taken a harsh view of virtual currency as a regulator, but he has begun to stump for the technology behind it.
The man accused of implementing tough regulations on Bitcoins and other online currency now heads a consultancy that is acting as an adviser and media liaison for one of the sector's major new players.
The Lawsky Group, which provides legal and strategic counsel for clients on financial regulation issues, was the press contact last week for Axoni, a blockchain technology firm.
Axoni was promoting its successful test of blockchain technology into the back office settlement process for derivatives transactions.
"We'll be doing a broad range of financial consultancy ... and some financial technology public relations," said Lawsky Group spokesman Matthew Anderson.
Anderson was spokesman for the Department of Financial Services, the state regulator where Lawsky was accused of slowing the development of virtual currencies.
Lawsky said last June he wanted to "put in place guard rails that protect consumers and root out illicit activity without stifling beneficial innovation".
Though some Bitcoin proponents welcomed the safeguards, Lawsky's about-face now that he is profiting from the technology in the private sector has miffed more than a few observers.
"I think the most interesting thing about Mr Lawsky's newest venture is that it highlights the cozy relationship between regulators and the regulated industry," Pamela Morgan, CEO of Third Key Solutions, told IFR.
Morgan, whose company consults for other companies that use digital currencies such as Bitcoin, called Lawsky's new role "crony capitalism at its finest".
Lawsky's spokesman did not respond to two requests for further detail about his work, though others saw no problem with it.
"I think it is fantastic that he has entered the private sector and continued to support the Bitcoin/blockchain space," said Adam Draper, CEO of Boost VC, a venture capital firm focused on blockchain and other virtual technologies.
Some suggest the addition of public relations brings out a strength that helped raise Lawsky's profile in the first place - his ability to interact with the media.
(Reporting by Mike Kentz; Editing by Jack Doran and Marc Carnegie) || Excitement Builds for Flow CARIFTA Games: ST. GEORGE'S, GRENADA--(Marketwired - Mar 24, 2016) - The excitement is steadily building in the Spice Isle, as the crème de la crème of junior track and field descends on Grenada for the highly anticipated 2016 Flow CARIFTA Games this weekend. Already, teams from Anguilla, Antigua, the Cayman Islands, Guyana, St. Lucia, Suriname, St. Vincent and the Grenadines, the US Virgin Islands, and Trinidad and Tobago have arrived in St. George's to compete in the 45 th edition of the Caribbean's premier athletics meet. "We know that a lot is expected of us, and as we showcase our Caribbean youth, we want to provide them with an experience that will encourage them to continue in sport. My heart is filled with joy to see that we have reached this point," said Veda Bruno-Victor, Chairperson of the Local Organising Committee. Flow, the region's leading telecommunications provider, has signed a three-year partnership with the North American, Central American and Caribbean Athletics Association (NACAC) to be the exclusive broadcast partner and title sponsor of the CARIFTA Games. It means that for the first time in the history of the CARIFTA Games, the event will be broadcast live in High Definition (HD) across the entire Caribbean. "I am also very grateful that Flow has become our title sponsor for the 2016 CARIFTA Games and for the following two Games to come. We want our young athletes to be seen and remembered, because if they are not in Rio, they will definitely be in Japan (2020 Olympic Games). We want our people to say 'I remember that boy or girl' and it is with great expectation that we look forward to the coming of the CARIFTA Games," added Bruno-Victor. Flow, which is also the region's exclusive broadcast partner for the upcoming Rio 2016 Olympic Games, has contracted an international production team that will capture, package and present more than twenty hours of live coverage from the River Road venue on the Flow Sports Channel (Channel 190 in Barbados). Story continues "This is a triumphant moment for Caribbean athletics and we very proud to be the exclusive broadcast partner and title sponsor of the 2016 Flow CARIFTA Games," said Denise Williams, Senior Vice President of Communications, Cable & Wireless Communications. "Since its launch last year, Flow Sports has already become one of the Caribbean's leading sports networks and our partnership with the CARIFTA Games builds upon Flow's other initiatives across the region. In addition to lending financial support, we are also very excited that our partnership with NACAC will allow us the opportunity to broadcast the Games across multiple platforms including our very own Flow Sports." The 2016 Flow CARIFTA Games will inaugurate Grenada's new National Stadium which was recently redeveloped following the passing of Hurricane Ivan in 2004. More than 650 athletes and officials will attend the Games from countries including Anguilla, Antigua and Barbuda, Aruba, Bahamas, Barbados, Bermuda, British Virgin Islands, Bonaire, Cayman Islands, Curacao, Dominica, French Guiana, Grenada, Guadeloupe, Guyana, Haiti, Jamaica, Martinique, Saint Kitts and Nevis, Saint Lucia, Saint Maarteen, Saint Vincent and the Grenadines, Suriname, Trinidad and Tobago, Turks and Caicos Islands, and the United States Virgin Islands. About Cable & Wireless Communications Plc Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in Latin America and the Caribbean. 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. CWC 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 Group 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. CWC has more than 7,300 employees serving 6.4 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 470k and Broadband 690k) across 42 countries. The Group'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 Plc's shares are quoted on the London Stock Exchange under the ticker CWC. The Group 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 . Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2983620 || Exclusive: Chinese hackers behind U.S. ransomware attacks - security firms: By Joseph Menn (Reuters) - Hackers using tactics and tools previously associated with Chinese government-supported computer network intrusions have joined the booming cyber crime industry of ransomware, four security firms that investigated attacks on U.S. companies said. Ransomware, which involves encrypting a target's computer files and then demanding payment to unlock them, has generally been considered the domain of run-of-the-mill cyber criminals. But executives of the security firms have seen a level of sophistication in at least a half dozen cases over the last three months akin to those used in state-sponsored attacks, including techniques to gain entry and move around the networks, as well as the software used to manage intrusions. “It is obviously a group of skilled of operators that have some amount of experience conducting intrusions,” said Phil Burdette, who heads an incident response team at Dell SecureWorks. Burdette said his team was called in on three cases in as many months where hackers spread ransomware after exploiting known vulnerabilities in application servers. From there, the hackers tricked more than 100 computers in each of the companies into installing the malicious programs. The victims included a transportation company and a technology firm that had 30 percent of its machines captured. Security firms Attack Research, InGuardians and G-C Partners, said they had separately investigated three other similar ransomware attacks since December. Although they cannot be positive, the companies concluded that all were the work of a known advanced threat group from China, Attack Research Chief Executive Val Smith told Reuters. The ransomware attacks have not previously been reported. None of the companies that were victims of the hackers agreed to be identified publicly. The security companies investigating the advanced ransomware intrusions have various theories about what is behind them, but they do not have proof and they have not come to any firm conclusions. Story continues Most of the theories flow from the possibility that the Chinese government has reduced its support for economic espionage, which it pledged to oppose in an agreement with the United States late last year. Some U.S. companies have reported a decline in Chinese hacking since the agreement. Smith said some government hackers or contractors could be out of work or with reduced work and looking to supplement their income via ransomware. It is also possible, Burdette said, that companies which had been penetrated for trade secrets or other reasons in the past were now being abandoned as China backs away, and that spies or their associates were taking as much as they could on the way out. In one of Dell’s cases, the means of access by the team spreading ransomware was established in 2013. The cyber security experts could not completely rule out more prosaic explanations, such as the possibility that ordinary criminals had improved their skills and bought tools previously used only by governments. Dell said that some of the malicious software had been associated by other security firms with a group dubbed Codoso, which has a record of years of attacks of interest to the Chinese government, including those on U.S. defense companies and sites that draw Chinese minorities. PAYMENT IN BITCOIN Ransomware has been around for years, spread by some of the same people that previously installed fake antivirus programs on home computers and badgered the victims into paying to remove imaginary threats. In the past two years, better encryption techniques have often made it impossible for victims to regain access to their files without cooperation from the hackers. Many ransomware payments are made in the virtual currency Bitcoin and remain secret, but institutions including a Los Angeles hospital have gone public about ransomware attacks. Ransomware operators generally set modest prices that many victims are willing to pay, and they usually do decrypt the files, which ensures that victims will post positively online about the transaction, making the next victims who research their predicament more willing to pay. Security software companies have warned that because the aggregate payoffs for ransomware gangs are increasing, more criminals will shift to it from credit card theft and other complicated scams. The involvement of more sophisticated hackers also promises to intensify the threat. InGuardians CEO Jimmy Alderson said one of the cases his company investigated appeared to have been launched with online credentials stolen six months earlier in a suspected espionage hack of the sort typically called an Advanced Persistent Threat, or APT. “The tactics of getting access to these networks are APT tactics, but instead of going further in to sit and listen stealthily, they are used for smash-and-grab,” Alderson said. (Reporting by Joseph Menn in San Francisco; editing by Jonathan Weber and Grant McCool) || Rocky Mountain Ayre Launches HempCoin: DOVER, DE--(Marketwired - Apr 21, 2016) - Rocky Mountain Ayre, Inc., a holding company (OTC PINK:RMTN), is pleased to announce that it has officially launched HempCoin, its Crypto-Currency, on two Crypto-Currency exchanges. President of RMTN, Tim Ayre, says, "We are extremely pleased to have started trading on two very well-known exchanges and we expect to trade on several more in the near future." The two exchanges trading HempCoins areC-CexandYobit. In addition, Ayre says, "We have completely remade our website,www.hempcoin.com. The website offers plenty of information for users looking to purchase or mine the coins. We wanted it to be sophisticated in scope yet still be user friendly and I believe we have succeeded there." Every 10 HempCoins are backed by 1 share of 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 Ayre, Inc.
Rocky Mountain Ayre is a publicly traded company listed on the OTC markets 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. || Murray Stahl Talks Investments Made Through FRMO: - By Bram de Haas
GuruMurray Stahl(Trades,Portfolio) is the CEO and chairman of FRMO Corp. (FRMO). Together with CFO Steven Bregman, they report on the investments made through FRMO on a quarterly basis. There is no transcript available yet for the most recent call, but you can listen to the archived call.
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• FRMO –5-Year Financial Data
• The intrinsic value of FRMO
• Peter Lynch Chart of FRMO
The call can be a little bit chaotic if you are a new shareholder, but they are absolutely worth listening too. Stahl and Bregman are full of valuable insights into the markets and readily share wisdom related to their unconventional approach to value investing.
Balance sheet
The call starts out with them commenting on the balance sheet. Equity went down by a meaningful amount and the duo got several questions from shareholders about why it went down and whether the decline would be permanent. A meaningful part of the reduction in book value is due to current assets decreasing by $–– million. A deferred tax liability was decreased and the securities sold, not yet purchased program was expanded a little bit. This is a post where they account for short positions in path dependent ETFs. The way I understand it, they had to take their gains in these positions, which triggered a tax. Afterward they initiated the positions again with a new cost basis.
The HK multistrategy fund declined in value. Over the calendar year, the fund didn’t do so bad (-–—%), but throughout the reporting period the fund went down by —5%. There were also some redemptions, although they were quick to point out March had been a very good month.
Digital Currency Group
Stahl talked a little bit about a new investment in the Digital Currency Group. DCG is a corporation devoted to crypto currencies. Stahl expects cryptocurrencies will become a legitimate asset class. DCG owns various venture investments in technologies involved with digital currencies. They own equity in Coinbase (an exchange), Ripple (utilizes blockchain for cross-border transactions) and Grayscale (a money manager of crypto currencies). Governments around the world historically had the tendency to inflate asset prices or currency. Little by little you are purchasing power, a constant threat in history. Being on a metallic standard has historically also caused inflation.�
The blockchain is a ledger and the coins can’t be counterfeited. If more transactions are done in a currency it raises its value.
If Bitcoin were to become the new gold (Stahl doesn’t necessarily agree, but raises it as a possibility suggested by others), Bitcoin would appreciate by –………x in value.
If it were to become currency for the world, you would make —…………x your money.
Even though it is a very small investment, Stahl views it as a really important strategic investment. It's possible the stake would be expanded.
Market outlook
If oil went to $45 by end of the year, CPI would go to —.‘% and the Fed would have its hand forced and would need to raise rates. This would cause problems in the market.
You have to diversify away from stocks. Over the last ‘5 years, interest rates came down and stocks were successful. FRMO is now operating on the premise that two guys picking stocks isn’t going to cut it going forward.
The firm keeps a lot of cash on the balance sheet and views it as optionality. When the next crash (Stahl doesn’t actually use the word crash) comes, the firm will profit by having lots of liquidity.
One of the reasons they like small exchanges so much is that the optionality embedded in them is huge. If big mergers go through like the one between the London Stock Exchange and Deutsche Borsche, these players raise prices and clients are angry and want to move business. Meanwhile there are few licensed exchanges and the small ones are suddenly very well positioned.
ETFs
Stahl views it as very dangerous to be invested in big dominating companies. Big liquid companies pay out a little bit of dividend and throw the rest at buybacks. These companies have defined benefit pension plans, but the stock has to rise or the company has to put extra money into these plans. This means that when the flows into large cap liquid companies is starting to slow, the effect can be dramatic. Big liquid stocks make up huge allocations in focused ETFs. What’s wrong with that? You take a lot of individual security risk by buying this ETF. At some point an event will make that apparent to lots of people invested in these type of securities.
Something else he doesn’t like is the typical dividend ETF. Earnings of the constituents of these products are ever so slightly declining. They have record margins right now, and can’t go up or down by much. These companies are currently saving a lot on the commodity side and not passing this on to the consumer.
The risks in ETF land are exacerbated because ETF providers aren’t making money and can’t make a lot of money on these products because the fees are too low. This structure of the industry leads to only a few companies being a major part of all ETFs.
An index was supposed to take out risk, and now you are taking on risk by buying into them. Everyone owns the same companies.�
Indexation is not in the early innings, it’s in the late innings. It will possibly go into extra innings.
This article first appeared onGuruFocus.
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• FRMO 15-Year Financial Data
• The intrinsic value of FRMO
• Peter Lynch Chart of FRMO || Bitcoin finds room in small funds; large institutions still on sidelines: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Digital currency bitcoin has found favour among smaller investors, thanks to the availability of funds designed to invest in it, but remains a niche among the larger investing community. Investors at some family offices, smaller mutual funds, and traders at hedge funds say bitcoin has helped returns and demonstrated a low correlation with other asset classes. Hopes that bitcoin would become a broadly used alternative to other currencies helped buoy its price to more than $1,000 (£692) in December 2013, when its market capitalisation was $13 billion. But the market cap has retreated since then, to about $6.4 billion as of Thursday. Early enthusiasts for the crypto-currency were drawn to its revolutionary ideals of transparency and a lack of central or official control. The risks of dealing in bitcoin were laid bare in 2013 when Tokyo-based exchange Mt Gox collapsed after admitting it had lost the equivalent of hundreds of millions of dollars of investor funds. The currency's earlier ties to gambling and criminal websites did not endear it to traditional investors. Jeremy Millar, founder and managing partner at Ledger Partners in London, estimated that 50 to 90 percent of bitcoin's current $6.4 billion market cap is held by near-institutional money such as individuals at hedge funds and family offices. That has not changed over the last two years. He does not have an estimate for institutional investment holdings of bitcoin. But he said they are likely to be insignificant, compared with the smaller investors who have fewer restrictions about fund allocation. "What is clear though is that over the last two years, bitcoin has emerged from its 'hacktivist' origins to a more institutionalized ecosystem which includes the participation of hedge funds, traders, and professional investors," said Millar. BITCOIN IN PORTFOLIOS Funds dedicated to investing in bitcoin are relatively small. The largest is the Pantera Bitcoin Fund, a $160 million hedge fund founded by Dan Morehead, formerly of Tiger Management, available to institutions and individuals who invest $50,000 or more. Story continues According to a Pantera Bitcoin Fund brochure, the fund was launched in July 2013, a period when bitcoin traded at around $65. On Thursday, it traded at $418.80, a gain of more than 500 percent from July 2013. The firm did not comment on fund performance or its investors. The majority of the Pantera Fund's investors are family offices and high net worth individuals, said two people familiar with the fund. The Grayscale Bitcoin Investment Trust, with assets of more than $60 million, is another vehicle for investors. GBTC is backed by bitcoin advocate Barry Silbert and his Digital Currency Group. It is the only publicly traded U.S. security in the over-the-counter market invested in bitcoin. Volume is thin, with a few thousand shares traded daily, according to Thomson Reuters data. Antonis Polemitis, managing director at Ledra Capital in New York, a family office specializing in education and technology, said that on average, clients have allocated 1 to 3 percent of their portfolios to bitcoin. "A lot of people will take that bet with 1 percent of their assets," he said. "A 1 percent loss does not change anyone's life in any way. If it goes up 10 times, then you get to feel very smart." Some investment managers say having bitcoin in portfolios has helped performance. ARK Invest, which manages four exchange-traded funds with $240 million in assets, holds GBTC in its $12 million Next Generation Internet ETF and the $7 million ARK Innovation ETF. Chris Burniske, analyst and blockchain products lead at ARK Invest in New York, said since investing in September 2015, GBTC has contributed 67 basis points to the Next Generation Internet ETF's return and 62 basis points to the ARK Innovation ETF. For 2015, the Next Generation ETF posted a 15.29 percent return, while the Innovation ETF had 3.76 percent gains. For Kingsbridge Wealth Management, a multifamily office in Las Vegas with $150 million in assets, GBTC has become a great diversifier because so far it has had a low correlation with other asset classes, said David Dunn, the firm's founder and chief investment officer. The firm has about $1.7 million invested in bitcoin and its underlying technology, the blockchain, Dunn said. (Editing by David Gaffen and Matthew Lewis) || Barclays-Circle Partnership to Facilitate App Launch in UK: After obtaining an electronic money license from U.K.’s top financial regulator, Financial Conduct Authority, the social payment app Circle is all set to foray into the nation on Wednesday. The move will be further facilitated by the Boston-based start-up’s tie-up with London-basedBarclays PLCBCS, which is the first global bank to join hands with a Bitcoin company.The license granted by the U.K., another first for a virtual currency firm, indicates the government’s efforts to attract virtual currency start-ups and make London a hub for the development of financial technology or fintech."Circle's decision to launch in the UK, and the firm's new partnership with Barclays are major milestones," said Britain's Economic Secretary to the Treasury Harriett Baldwin in an email. "They prove our decision to introduce the most progressive, forward-looking regulatory regime is paying off and cements our status as the world's FinTech capital," he added.Founded in 2013, Circle uses Bitcoin, the virtual currency, to allow users to make payments to other customers using a mobile app. The process is termed as “social payments” by the company and its investors list includes The Goldman Sachs Group, Inc. GS and IDG Capital Partners.Circle users can hold dollars and also pay any merchant that accepts Bitcoin anywhere in the world. Circle will instantly convert the dollars into Bitcoin at the time of payment and its users can accept Bitcoin payments, which will be immediately converted into dollars.The British license will enable Circle users in the U.K. to do the same. Consumers will be able to instantly transfer money between dollars and British pounds, thus facilitating domestic and international payments.“For the first time any consumer in the U.S. and the U.K. will be able to beam sterling and dollars back and forth, instantly for free,” said Jeremy Allaire, the co-founder of Circle. “That’s just never been possible.”Apart from money transfers, Circle users can also send emojis and animated "GIF" videos, along with written messages, at no charge, similar to China's WeChat Pay and AliPay.Moreover, Circle is expected to allow transfers in and out of euros soon, when it launches in the rest of Europe later this year.The affiliation with Barclays will provide Circle with the required infrastructure to enable transfers from any U.K. bank account. Further, Barclays Corporate Banking will provide the account needed by Circle to store sterling for consumers.While Bitcoin remains in a negative light owing to its standing as a black-market currency, the failure of a massive Bitcoin exchange and extreme price fluctuations, partnership with a global bank like Barclays will prove to be an accomplishment for Circle, which uses Bitcoin to transfer central bank currencies.Also, banks like Goldman, JPMorgan Chase & Co. JPM and Credit Suisse Group AG CS have been increasingly showing interest in Blockchain, the “digital ledger” or the underlying technology behind Bitcoin, given its significant potential to revamp the extensive and complex network of bank payments as well as settlements.Currently, Barclays holds a Zacks Rank #5 (Strong Sell).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 ReportCREDIT SUISSE (CS): Free Stock Analysis ReportBARCLAY PLC-ADR (BCS): Free Stock Analysis ReportGOLDMAN SACHS (GS): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || This Country Has Gone Nearly 25 Years Without a Recession: They called it Super Tuesday in America, but it was the Australian economy that won the day.
The Australian Bureau of Statisticsannouncedthat its economy grew at an annualized rate of 3.0% in the fourth quarter of 2015, above the estimates of economists who predicted that the Aussie economy would be more negatively affected by the economic slowdown in China.
It also marked the 98th straight quarter that the Australian economy has avoided a recession. That’s right, Australia has gone almost 25 years without having two consecutive quarters of negative growth, the standard definition of a recession.
AsBusiness Insider Australiapoints out, this brings the Aussie’s close to the developed-world record held by the Netherlands, whose own streak of 103 straight quarters without a recession came to a halt during the global financial crisis.
Australia has been able to avoid a recession because of its close ties to the Chinese economy. It’s wealth of natural resources and proximity to China made it the go-to supplier of China’s manufacturing boom. Although it’s been able to avoid being brought down by the Chinese slowdown thus far, many economists remain pessimistic. "We should be cautious given the poor quality of the growth, which was driven by a rise in government spending and household expenditure that relied on a run down in savings," said Andrew Ticehurst, rate strategist at Nomura,told theFinancial Times.
See original article on Fortune.com
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• Australian Police Have Raided the Home of Bitcoin's Supposed Creator
• Taylor Swift Takes Her 125-Person Crew on Vacation || Bitcoin is dead, says prominent fintech exec: Exactly three months ago, a well-known bitcoin developer, Mike Hearn, wrote a post on Medium that rocked the community of people who believe in the future of the digital currency and its technology. Bitcoin, he wrote, has failed. It has failed because the community has failed
Worse still, the network is on the brink of technical collapse. The post led to screaming headlines about the end of bitcoin. And yet, the industry plugs along. The currency is trading at $430 USD. Transaction volume (the number of bitcoin transactions per day) is higher now than it was before Hearns post, according to a tracker at Blockchain.info . Just this week, the Wall Street Journal profiled a top ETF (exchange-traded fund) attorney who is advocating for a bitcoin ETF, the same effort that Cameron and Tyler Winklevoss are pushing. Barry Silbert , CEO of the Digital Currency Group, reflected this week , Hearnado is over. @barrysilbert Close your eyes and click you heel 3 times..then keep saying to yourself, "Bitcoin is dead, bitcoin is dead, bitcoin is dead" Trev Daniel (@TrvDaniel) April 15, 2016 Maybe not. If you ask Taavet Hinrikus, CEO of international-payments app TransferWise, Bitcoin, I think we can say, is dead. There is no traction, no one is using bitcoin. The bitcoin experiment, I think we can say, is over. Hinrikus made the comments in an interview with Yahoo Finance, during a visit to discuss his companys service launching in Mexico this week . What really happened was a gold rush, he continued. People bought bitcoin because they thought it would be worth more tomorrow. And a lot of people got lucky. But were not seeing real people use bitcoin. And we dont know what problem it solves. Now, blockchain, I think, is a genius advancement in technology. But Im not sure were seeing yet where to apply it. Im pretty excited about R3 and Digital Asset Holdings . I think there are many areas where using blockchain is great, but its still early days. Story continues Hes not alone in either opinion: JPMorgan CEO Jamie Dimon, for one, has also said that bitcoin is doomed, and has also drawn a distinction between the currency and its underlying ledger technology, the blockchain. His bank, along with more than 40 others, has signed on to a consortium to test blockchain technology for their transaction rails. Of course, TransferWise isnt a bitcoin company. But the companys proposition to customers is faster transfer times, and smaller transfer fees, on international remittances. Bitcoin, as a technology, has the same appeal (among many other uses): instant transfers and tiny fees, circumventing big, expensive, sluggish banks or wire services. Startups like TransferWise, and Dwolla, and a host of others that have nothing to do with bitcoin are nonetheless in the same general pool of financial technology, or more specifically, digital payments. The bold claim about bitcoins death would mean more, and be more alarming or divisive among the bitcoin community, coming from a bitcoin executive. (After all, one could make the case that bitcoin is a competitor to TransferWise, which deals in fiat currency.) But Hinrikus is no newcomer to fintech: TransferWise has raised nearly $100 million from huge names in tech investing like Peter Thiel, Marc Andreessen, and Richard Branson, and before co-founding TransferWise, Hinrikus was the first hire at Skype and worked there five years as its director of strategy. When asked about bitcoin, Hinrikus began by saying, Weve certainly paid lots of attention to bitcoin and blockchain. If tech entrepreneurs like Hinrikus feel they no longer need to keep paying attention, that could be a problem for the coin and its future viability. -- Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Read more: Bitcoin community disputes use of the term Internet of Money How big banks are paying lip service to the blockchain Heres how you can invest in the blockchain Bitcoin's biggest investor just bought its biggest news site
[Random Sample of Social Media Buzz (last 60 days)]
1 KOBO Price: YoBit = 0.00000555 BTC (0.00226900 USD) #KOBO #BTC #KOBOprice #Kobocoin 2016-03-20 02:00 pic.twitter.com/mGRdi5Jf2t || #DOPE 0.00000052 BTC(0.00 %) | Market Cap 73 BTC | Volume(24h) 0 BTC | Available Supply 141,157,233 DOPE || LIVE: Profit = $713.01 (0.60 %). BUY B269.85 @ $444.23 (#BTCe). SELL @ $447.00 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || $439.13 #bitfinex;
$437.08 #coinbase;
$436.00 #btce;
$435.78 #bitstamp;
#bitcoin #btc || LIVE: Profit = $142.46 (7.67 %). BUY B4.81 @ $410.00 (#VirCurex). SELL @ $416.06 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || #CannaCoin #CCN $ 0.010761 (-0.26 %) 0.00002539 BTC (-0.00 %) || 現在の価格は 46383円(http://blockchain.info )です。前回比は46383円(100.00%)です。http://konvert.in/currency/1-bitcoin-to-japanese-yen … #ビットコイン #bitcoin via @konvertin || #UFOCoin #UFO $ 0.000021 (1.44 %) 0.00000005 BTC (0.00 %) || $416.53 at 05:15 UTC [24h Range: $413.44 - $419.00 Volume: 4991 BTC] || #RDD / #BTC on the exchanges:
Cryptsy: Error
Bittrex: 0.00000008
Average $3.4E-5 per #reddcoin
13:00:01
|
Trend: no change || Prices: 455.10, 448.32, 451.88, 444.67, 450.30, 446.72, 447.98, 459.60, 458.54, 458.55
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Security Thought Leaders at Cisco, HP, Identiv, Imageware, Nok Nok and Bosch Security Are Featured on SecuritySolutionsWatch.com: NEW YORK, NY--(Marketwired - May 5, 2015) -ImageWare Systems, Inc.(OTCQB:IWSY); Identiv (NASDAQ:INVE)
Cisco
Mr. Christian Matthews, Director of Product Management for IoT Software,Cisco, told us, "Simply monitoring high-value assets provides a general example. Video surveillance combined with other sensor output such as audio, motion, or building contacts is used to increase protection and monitor assets without constant human supervision. Threats of incidents are detected and the risks mitigated by alerting personnel or automatically initiating preventative actions. When combined with advance video analytics, benefits continue to grow. At theUniversity of San Francisco(USF), IP cameras and the Cisco Video Surveillance Manager deliver facial recognition to detect when unauthorized individuals enter an area and then notify appropriate staff.Dallas Area Rapid Transit(DART) use Cisco's IoT Physical Security solutions to increase effectiveness of the transit police. With better intelligence, first responders and their associated operations teams have increased productivity substantially. They have done this at scale with a centralized command center managing more than 1700 remotely deployed IP cameras. Recently the system has been extended across busses and emergency response vehicles."
For the complete interview with Christian Matthews at Cisco,please click here, or here:www.securitysolutionswatch.com/Interviews/in_Boardroom_Cisco_Matthews.html
For more information:Connected Safety and Security(http://www.cisco.com/c/en/us/products/physical-security/index.html)Cisco Case Studies(http://www.cisco.com/c/en/us/products/physical-security/customer-case-study.html)
*****
HP Enterprise Services
Mr. Fred Duball, Data Center Practice Principal, Workload and Cloud Solutions, HP Enterprise Services, U.S. Public Sector, told us, "Many of our clients know that HP has a strong legacy of IT infrastructure support; we have more than 80 data centers worldwide supporting more than 1,300 customers. But here's what makes the Mid-Atlantic Data Center (MDC) different -- we have enhanced our security and compliance posture to accommodate and support the critical needs of the U.S. Federal Government, as well as commercial companies requiring stronger measures. The HP Mid-Atlantic Data Center has been designed to provide customers with high levels of security, reliability, compliance and cost effectiveness. In fact, the U.S. government has designated this facility as being a part of our nation's critical infrastructure, guaranteeing priority restoral of services in the event of a natural or manmade disaster."
For the complete interview with Fred Duball at HP,please click here, or here:www.securitysolutionswatch.com/Interviews/in_Boardroom_HP_FredDuball.html
For more information:Transform to the New Style of IT - HP Solutions for U.S. Public Sector
*****
Identiv
Identiv, Inc.(INVE) recently announced that it has entered into an agreement with Cisco Systems Inc. to provide solutions for the Internet of Everything (IoE). The IoE is the intelligent connection of people, processes, data and things to the Internet, bringing unprecedented economic opportunities to both the private and public sectors. Initially, Identiv will deliver a next-generation, networked physical access control system (PACS) solution that interacts with other IoE elements, such as Cisco virtual supervisor module (VSM) cameras and Cisco voice-over-IP (VoIP) telephony products.
Identiv will offer a completely network based access control system, including credentials, advanced networked uTrust TS door sensors, Power-over-Ethernet (PoE) door controllers and access control software. Identiv is committed to disrupting the traditional physical access market by offering a fully network-based solution that is easy to buy and use. Customers will gain enhanced value, lower installation costs and less complexity by using standards-based network cabling, leading to reduced total cost of ownership (TCO) and improved return on investment (ROI).
"Everything is connecting, and physical access is no different," said Jason Hart, Identiv CEO. "Identiv is allowing customers to view physical access control as another element of the Internet of Everything. Our focus on identity as the new security perimeter allows us to build connected systems linking buildings, mobile devices, cloud services, and information systems that are easy to use, standards based, cost effective, and most importantly, secure." Financial terms of the partnership were not disclosed. For more information please visitwww.identiv.com/ciscopartnership.
For our interview with Mr. Jason Hart, President, Identiv,please click hereor here:www.securitysolutionswatch.com/Interviews/in_Boardroom_Identiv_Hart.html
And, please also see our interview withMr. Paul Brady, Technology and Solution Evangelist Senior Director atIdentiv,please click hereor here:http://www.securitysolutionswatch.com/Interviews/in_Boardroom_Identiv_Brady.html
For more informationwww.Identiv.com
*****
ImageWare Systems, Inc.
ImageWare Systems, Inc. (OTCQB:IWSY) (ImageWare) a leader in mobile and cloud-based, multi-modal biometric identity management solutions, recently announced:
Extenua and ImageWare Deliver Revolutionary Enterprise Secure Cloud Storage(www.iwsinc.com/extenua-and-imageware-deliver-revolutionary-enterprise-secure-cloud-storage/)
Agility and ImageWare Partner to Bring Biometric Solutions to New Markets(www.iwsinc.com/agility-and-imageware-partner-to-bring-biometric-solutions-to-new-markets/)
ImageWare Systems Joins as an Advanced Partner in the CA Technologies Tech Partner Program(www.iwsinc.com/iws-joins-as-an-advanced-partner-in-the-ca-technologies-tech-partner-program/)
ImageWare To Combine Technologies with TransUnion(www.wsinc.com/imageware-to-combine-technologies-with-transunion/)
For our complete interview with Jim Miller, ImageWare Systems, Chairman and CEO, please click hereor here:www.securitystockwatch.com/Interviews/in_Boardroom_ImageWare.htmlFor more information:www.iwsinc.com
*****
Bosch Security Systems
Mr. Daniel Murray,Director Key Accounts, Systems Integration,Bosch Security Systems, told us, "Cyber security is a major area of concern for integrators, and future success is tied to the integrators' ability to meet their own cyber security needs and those of the customers they support. One of the most startling facts is that the vast majority of cyber vulnerabilities can be mitigated by appropriate password implementation and process management. This is common practice in the IT world and an area for improvement in the arena of physical network security. Many of the thousands of cameras installed globally are done so with default, insufficient and missing passwords. This is an easy 'first step' in securing the physical security network which is missed by many dealers. At the PSA Cybersecurity Congress, discussion focused on multiple factors of network integrity that will change the face of our industry in the next 3-5 years."
For the complete interview with Mr. Daniel Murray atBosch Security Systems,please click hereor here:http://www.securitysolutionswatch.com/Interviews/in_Boardroom_Bosch_Murray.html
*****
Nok Nok Labs
Nok Nok Labs, an innovator in modern authentication and a founding member of the FIDO Alliance, and DDS, Inc., a leading Japanese biometric company, announced a strategic partnership to jointly drive adoption of Nok Nok Labs' products in the Japanese market, meeting the need for a more secure online environment. The two companies are working together to support Device Manufacturers, Mobile Network Operators and Online Service Providers and to drive the adoption of the FIDO Ready™ NNL™ S3 Authentication Suite with the goal of making online and mobile transactions more secure.
"The need for a more secure, easy to use, scalable online authentication ecosystem is a global concern," said Phil Dunkelberger, President & CEO of Nok Nok Labs. "Joining forces with DDS provides us with a strong partner in the Japanese market to meet the needs of the region and to drive the growth in the market for FIDO-based authentication."
DDS joined the FIDO Alliance in April 2014 becoming the first Japanese member. DDS has driven various activities to increase FIDO awareness in Japan such as the FIDO TOKYO Seminar and FIDO 1.0 PR event. "Nok Nok Labs and the FIDO Alliance have done a great job in promoting the FIDO movement in the U.S. and other global markets," says Kenji Miyoshino, CEO of DDS. "Partnering with Nok Nok Labs will help drive significant business opportunities in the Japanese market, helping to create a more secure online environment on a global level."
For more information, please clickhereor here:https://www.noknok.com/what-they-say/press-releases/nok-nok-labs-and-dds-inc-form-strategic-partnership-drive-adoption-fido.
WATCH THE VIDEO, please click here, or here:https://www.youtube.com/embed/gHDM4Yv3u18?rel=0&wmode=transparent&autoplay=1&width=1280&height=720&iframe=true
Mr. Ramesh Kesanupalli, Founder of Nok Nok Labs, Founding Member, FIDO Alliance, told us, "Prevailing password authentication has proven to be insecure and risky amidst a world of escalating security threats, cyber crime and targeted attacks, not to mention increasing vulnerability associated with so many more vectors of attack coming through the Internet of Things (IoT). Right now, we are moving from informational access to a major life style change where we can access everything digitally. We're at the threshold of using authentication to pay at retail stores with our phones, to open and start our cars, to manage home networks, appliances, and security systems all through connected devices. Authentication is the FIRST step we must perform to begin to effectively use IoT."
For the complete interview with Ramesh Kesanupalli please clickhere, or here:www.securitysolutionswatch.com/Interviews/in_Boardroom_NokNok_Ramesh.html
*****
TRADE SHOWS
CARTES SECURE CONNEXIONS AMERICA 2015May 5-7, 2015Washington, DCwww.cartes-america.com
-- The fourth edition of CARTES SECURE CONNEXIONS AMERICA will take place May 5 - 7, 2015 at the Walter E. Washington Convention Center in Washington, DC. The event will feature 70 sessions, 5 keynotes, 125 exhibitors and 2,000 attendees.
Hot topics such as EMV Integration, Mobile Payment Technologies and The Future of Digital Currencies will be the center of discussion at the upcoming 2015 CARTES SECURE CONNEXIONS AMERICA in Washington, DC. Each day of the event is kicked off with keynote presentations.
Tuesday Keynotes:Patrick Murck, Executive Director,Bitcoin FoundationDavid Keenan, Senior Vice President Network Solutions, Fiserv
Wednesday Keynote Panel:Carolyn Balfany, Senior Vice President of Product Delivery - EMV, MasterCardwill moderate and lead a panel of experts from all over the industry -- issuers, retailers and manufacturers -- with first-hand knowledge of chip adoption that will address EMV questions.
Thursday Keynotes:Scott Hagstrom, Senior Director, Financial Cards & EMV Strategy, ABnoteKaren Czack, Vice President of Global Chip Products, American Express
*****
Cyber Security Summit
The Cyber Security Summit is an exclusive "By Invitation Only" Summit series connecting C-Level & Senior Executives responsible for protecting their companies' critical infrastructures with cutting-edge technology providers and renowned information security experts. The one day event, being held on June 3rd in the DC Metro Area, September 18th in New York City & October 9th in Boston will focus on educating attendees on how to best protect their highly vulnerable business applications, intellectual property and discover the latest products and services for enterprise Cyber Defense.www.CyberSummitUSA.com
*****
The World of Cloud Computing All in One Place!Cloud Computing - Big Data - Internet of Things - DevOps - WebRTCJoin Us at Cloud Expo New York June 9-11http://www.cloudcomputingexpo.com/
Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some form of XaaS--software, platform, and infrastructure as a service. Cloud Expo is the single show where delegates and technology vendors can meet to experience and discuss the entire world of the cloud.
*****
The 14th Annual Smart Card Alliance Government ConferenceSmart Strategies for Secure IdentityJune 9-10, 2015Walter E. Washington Convention CenterWashington, DC
The Smart Card Alliance Government Conference was established over a decade ago, following the landmark government-wide security directive signed in August, 2004. HSPD-12 established standards for verifying an individual's identity and issuing a tamper-proof credential that could be rapidly authenticated electronically. The conference has become the annual gathering place for the original leaders of this initiative as well as the current heads of federal agencies and industry leaders who continue to set the standards for identity credentialing and access security. This year's conference will look forward to future developments in policy and evolving standards for government-issued credentials and their use by relying parties in physical and logical access systems, including use with mobile devices.
*****
Money20/20October 25-28, 2015, The Venetian, Las Vegas, NV, United Stateshttp://money2020.com/register,http://money2020.com/,[email protected], Organizer Email:[email protected]
Money20/20 is the largest global event enabling payments and financial services innovation for connected commerce at the intersection of mobile, retail, marketing services, data and technology. With 10,000+ attendees, including more than 1,000 CEOs, from over 3,000 companies and 75 countries, expected at its 2015 U.S. event, Money20/20 is critical to realizing the vision of disruptive ways in which consumers and businesses manage, spend and borrow money. The next Money20/20 will be held in Las Vegas, October 25-28, 2015, followed by Money20/20 Europe in Spring 2016.
*****
TEC 2015| Westminster, CO | May 4-8, 2015 |www.psatec.com
TEC 2015, presented by PSA Security Network, is the premier education and networking event that is open to all professionals in the physical security industry.
TEC features an entire week of education, networking, dedicated exhibit hours that do not conflict with education sessions, and custom learning paths designed to benefit a company's entire team from the business owner to sales, marketing, operations and technical professionals. In addition to all new sessions, TEC 2015 will feature a NEW cybersecurity track designed to provide practical solutions and applications that build on the education program provided at the PSA Cybersecurity Congress held in January 2015.
TEC also boasts a comprehensive registration package that includes access to the keynote address, all networking events, meals, and all non-certification courses at no additional cost, ensuring attendees get access to all that TEC has to offer. Registration opens February 23 atwww.psatec.com.
*****
SDW 2015 - The Global Hub For Next Generation Citizen & Government ID SolutionsQEII Conference Centre, Westminster, London, UKConference: 9-11 June 2015 - Exhibition 10-11 June 2015
SDW 2015(Security Document World) -- the world's leading document security show -- focuses on ePassports, visas, driving licenses, national IDs, worker credentials, advanced border control, anti-counterfeiting, fraud detection, and much more. The event will provide a global showcase for next-generation human identity solutions, focusing on intrinsic document security and on the new cutting-edge secure infrastructure now required to produce and use these advanced documents in live situations. Plus, a special focus on Biometrics, Document Fraud Detection and Intelligent Border Control.
Contact: Janine Bill, Exhibition Sales & Sponsorship Manager at Tel No: +44 (0) 1189 843209 or by email at:[email protected]
*****
THIS PRESS RELEASE, AND ALL MATERIAL PERTAINING TO SECURITYSOLUTIONSWATCH.COM AND SECURITYSTOCKWATCH.COM, ONLINE OR IN PRINT, IS SUBJECT TO OUR TERMS OF USE, CONDITIONS, AND DISCLAIMER HERE:http://securitysolutionswatch.com/Main/Terms_of_Use.html || Bitcoin alternative in 'pyramid scheme' storm: The founders of a new digital currency, known as LEOCoin, have hit back at reports published over the weekend linking them with a suspected pyramid scheme back in 2012.
Last week, U.K.-based Learning Enterprises Organisation (LEO) unveiled a trading platform in Hong Kong for its cryptocurrency called LEOCoin, which the company is promoting as an alternative to more popular digital currencies like bitcoin(: BTC=).
At a London launch the previous week, LEO boasted that it had already promoted the product to its current client base, claiming it meant over 100,000 entrepreneurs were already actively using the cryptocurrency in anticipation of its official trading debut, with around 30,000 merchants already signed up.
It also claimed this made it the "second largest digital currency" in the world, second to bitcoin, but has been slammed by reports on industry websites in the last week. Joel Dalais, a virtual currency entrepreneur and the director of bitcoin exchange IBWT, said oncryptocoinsnews.comthat LEOCoin was a "good example of what a pump and dump coin looks like." He also dismissed its claims of its sizeable usage as "bulls*t."
Read MoreBitcoin gets a rival-how will it fare?
An article by another industry website, calledCoinDesk, delved into the history of project founders Dan Anderson and Atif Kamran and said that both were caught up in a controversy surrounding a suspected pyramid scheme, called UNAICO Pakistan, that was warned by the Securities & Exchange Commission of Pakistan in 2012.
Published online, the report by the Pakistani SEC said it had received various complaints from the public claiming that UNAICO was a pyramid scheme. The letter, dated April 2012, concludes that the company's activities did "broadly fall" within the definition of "fraudulent activities" and gave a recommendation to shut down the firm.
LEO's Dan Anderson is named as being the CEO of UNAICO at the time and Atif Kamran was also linked to the company through Sitetalk, a social community platform that is described as a "sister concern" by the Pakistani commission.
A pyramid scheme is usually described as a program whereby participants try to make money by recruiting new members to the scheme before the program collapses and some members lose money. The CoinDesk article quotes an expert witness in the prosecution of pyramid schemes, William Keep, as saying that some of LEO's business model does raise questions, in particular highlighting that it provides incentives for users to recruit others.
LEO, meanwhile, has strongly refuted these claims telling CNBC via email that they were "completely untrue."
"Dan Anderson and Atif Kamran have never been involved in any sort of scam and the comments about them have misunderstood the facts entirely," a spokesperson for LEO said in the emailed statement.
Both resigned from UNAICO and Sitetalk after disagreeing about the direction the business was taking, according to the statement, which said that they had also ensured reimbursements for those that lost money. They have been officially discharged of all liabilities and cooperated fully with authorities in all of these matters, the spokesperson added.
The company also aimed to cool talk that it was artificially inflating its user base. At the event in London in March, LEO conceded that the cryptocurrency was targeted more at small and medium-sized businesses - especially in emerging economies - rather than the large conglomerates that have started to accept bitcoin.
A few examples of merchants revealed to CNBC that used LEOCoin were a Pakistani company called Capital Motors, a financial services firm in Slovenia called Profitus Skupina and a German-based energy efficiency services firm called Transformer.
A U.K.-based equine sports massage company called Happy Horse World is also on its roster as well as Strel Swimming, a U.K. based online company that organizes swimming tours around Europe. Borut Strel, a director at Strel, told CNBC via telephone that the company had only seen between 10 and 15 transactions made using the cryptocurrency, but predicted the sector as a whole was on the verge of a "new era."
The more popular 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. A plethora of so-called "altcoins," or alternative coins, have sprung up alongside bitcoin. Dogecoin, which was initially started as a joke in 2013 and is based on an internet meme, is still the sixth largest digital currency in terms of market capitalization, according to coinmarketcap.com.
More From CNBC
• CNBC.com News Page
• CNBC.com Blogs Page
• CNBC.com Earnings Central || Established Bitcoin Media Platform Bitcoinist.net Receives Significant VC Investment And Announces Inside Bitcoins Partnership: Trusted Bitcoin news and tech review source Bitcoinist.net is pleased to announce a significant investment to expand its operations, and a new partnership with the leader in the Bitcoin conference industry; Inside Bitcoins
LONDON, ENGLAND / ACCESSWIRE / April 16, 2015 /Bitcoinist.net, a Bitcoin media company founded in early 2014 and dedicated to being an independent voice for the cryptocurrency community, is pleased to announce an additional investment round into the company. Bitcoinist has been a cornerstone of the Bitcoin industry, providing news and reviews since early 2014, and will use this investment for an aggressive expansion plan. Bitcoinist.net's original investor, Zoltan Tokay, has invested an undisclosed amount into the site in recognition of the many milestones that the company has achieved.
For the last year, the Bitcoinist team has been at nearly every Bitcoin conference to show support and provide coverage. As the entire Bitcoin industry has grown, so has the Bitcoinist team and its reach. Earlier this month, Bitcoinist.net andInside Bitcoinsjoined together in a monumental deal. The Inside Bitcoins news section will now syndicate news articles and reviews from the Bitcoinist team, and vice versa. Scott Fargo, Editor-in-Chief at Bitcoinist.net, shared his thoughts on the new partnership:
"We atBitcoinist.netare happy to provide news and other content to Inside Bitcoins, the leader in the Bitcoin conference industry. We are looking forward to providing coverage of their world wide events as well."
Bitcoinist has already taken steps towards securing additional partnerships with key entities in the cryptocurrency industry. Look out for future announcements from the Bitcoinist team. For more information about Bitcoinist, please visit (www.bitcoinist.net). Inside Bitcoins is produced by Meckler Media. More information on MecklerMedia can be found at their website (www.mecklermedia.com).
About Bitcoinist
Bitcoinist LTD. is a private limited company registered in the United Kingdom. Since early 2014, Bitcoinist has provided industry-leading reviews, commentary, and news on cryptocurrency and technology. Notably, Bitcoinist has become a leading source for independent Bitcoin mining and cryptocurrency mining hardware reviews. Since being founded in February 2014 by Mate Tokay, Norbert Kovacs and Zoltan Tokay, Bitcoinist.net has grown into a dedicated international team.
For more information about us, please visithttp://bitcoinist.net/
Contact Info:
Name: Vivien GalEmail:[email protected]: BitcoinistAddress: 1 Hova Villas Brighton & Hove BN3 3DH, United KingdomPhone: +36302722409
SOURCE:Bitcoinist || Corruption in Commerce Dept? Lawmakers Want Him Out: Lawmakers will ask President Obama to fire the Commerce Department’s inspector general in the face of allegations against him over misconduct, retaliation against whistleblowers – and now, hiring a close friend for a cushy job with a six-figure salary.
Todd J. Zinser, theCommerce IG since 2007, is in charge of weeding out the very type of misconduct he’s accused of committing. Last week, Rep. Eddie Bernice Johnson (D-TX), the ranking Democrat on the House Science, Space and Technology Committee, said President Obama should remove Zinser because of unacceptable behavior over a period of time.
Related: Why This Government Watchdog Needs Watching
“There is a sustained pattern of misconduct and malfeasance that would be unacceptable in any senior federal official but is particularly troubling for an inspector general,” Johnson said in her statement.
“That an IG, or his senior staff, would attempt to punish and silence whistleblowers within their own office flies in the face of everything we expect of an IG,” Johnson added.
Since last July, a bipartisan group of lawmakers has been probing into allegations Zinser failed to discipline two employees in his office who intimidated potential whistleblowers. After Zinser defended his actions in a letter to Congress, lawmakers indicated they would look further into the alleged misconduct.
“Your response to our letter suggests that misconduct will not just be ignored by you, it will be defended by you with vigor,” the committee’s letter said. It added, “When an IG cannot effectively serve as a watchdog due to their own illegal conduct or lack of ethical grounding, that IG cannot maintain the trust and confidence of the Congress, agency employees or the public.”
Related: U.S. Spent $1 Billion on a Watchdog That Didn’t Bark
A separate investigation by the Office of Special Counsel concluded there was no direct evidence proving Zinser knew his two employees engaged in misconduct.
Since then, a new complaint has emerged against Zinser. Rep. Johnson, during her speech on Thursday calling for his termination, referred to allegations that Zinser hired a woman he was romantically involved with for a senior executive job. Her salary -- a $150,000 plus annual bonuses.
Johnson said before the woman got the job, she was about to be turned down for a senior executive position in another office. There are questions about whether her qualifications were in line with the job she took in Zinser’s office.
An employee in the IG’s office implied there were issues with the hire in an email to the agency’s legal counsel obtained byThe Washington Post.
Related: Federal Agents Busted for Stealing Bitcoins
Zinser, who previously served as the Transportation Department’s acting inspector general and deputy inspector general and who has a long history as a civil servant, denied any questionable hiring practices. He told the Council of Inspectors General for Integrity and Efficiency (CIGIE) that the woman was hired solely “on business necessity, not on a personal relationship.” He said he was not romantically involved with her.
Zinser is not the only federal watchdog accused of wrongdoing. Last year a congressional report accused the Department of Homeland Security’s former acting IG of intentionally altering and blocking investigations.
The acting IG, Charles Edwards, allegedly took employees to dinner – then fed them information about his office’s investigations. Edwards was put on administrative leave and remained on the government’s payroll until at least October of last year.
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• 6 Popular Social Security Myths Busted || Avra Announces Launch of Top Tier Security Products for Digital Currency Vendors: GREENVILLE, SC--(Marketwired - Apr 20, 2015) - Avra, Inc. ( OTCQB : AVRN ) ("Avra" or the "Company") a development stage company pioneering product innovation and activation of merchant and consumer commerce in the global Bitcoin-related digital currencies market, is pleased to announce the introduction of AvraSecure, a dedicated platform which offers critical security solutions to the growing digital currency industry. AvraSecure ( www.avrasecure.com ) is a perfect fit to complement all forms of technical payment infrastructure such as Bitcoin ATM machines, electronic wallets and related digital storage and transaction systems as well as payment gateways for Visa® and MasterCard® processing; while providing security and compliance requirements for KYC/AML which owner/operators will need in order to stay protected and remain compliant within the increasingly stringent regulatory environment. Avra is has created a one-stop solution that provides a best practice level of protection combined with an easy to integrate application interface. Avra invites its peers to join our security initiative and increase the level of security to the highest standards in order to combat intrusions and their effect on the industry, individual brand reputation, and most importantly, customer acquisition and retention. "Card brands such as Visa, MasterCard, Discover and AMEX agreed to form a security council in 2004 known as the Payment Card Industry Security Standards Counsel which to-date has had a very positive impact on protecting consumers and businesses. More needs to be done however as its shocking to think what the impact of breaches could be without this council," stated Steve Shepherd, CEO at Avra. "Digital Currency businesses are a relatively small but highly visible target and Avra has invested significantly in the development of preventative applications available to our clients through AvraSecure, a subscription based solution which can be implemented for as little as $199 per month with increased security solutions available based upon a completely free client-specific needs assessment." Story continues "It is a difficult task to make frictionless commerce service commitments as easy as possible when we operate in an environment that is constantly under the threat of attack. Hackers have more motivation to continue to find vulnerabilities whenever and wherever they can. We are committed to delivering rigorously controlled access that achieves the highest level of security and protection to our users, while continuously monitoring for vulnerabilities," stated Barry Johnson, Avra's Data Security Manager, "Many of the people becoming involved in the Bitcoin arena aren't necessarily security engineers with the bank-grade experience necessary to secure servers, wallets, websites and shopping carts. Currently, the real cost of intrusions can run into millions of dollars with limited recourse available. Companies which elect to operate as vendors in this market must have top-grade security if they intend to hold value on behalf of a client. If they do not, they shouldn't be operating at all, and should be held at least partially liable for otherwise preventable incursions." 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 five 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, and the latest addition; AvraSecure, offering subscription based critical security solutions to digital currency vendors. For more information about the Company please visit: www.avraglobal.com . Additional information regarding Avra, Inc. and its 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. || Buffett holds court in Omaha, Mayweather and Pacquiao bring in big bucks: Sell in May? No way! After a rough ride on Thursday stocks are bouncing back today with all three indices (^DJI,^GSPC,^IXIC) up more than half a percent. Some good news for consumers and automakers seems to be at least partly responsible for traders positive start to May.
Get the Latest Market Data and News with the Yahoo Finance App
Here are some of the other stoires Yahoo Finance is keeping an eye on today.
Berkshire shareholders flcok to OmahaBerkshire Hathaway (BRK-A,BRK-B) is holding its annual shareholder meeting this weekend. In what has become an annual ritual, the financial world will be listening for hints as to when 84-year-old CEO Warren Buffett might step down...and who might replace him.Mayweather vs. PacquiaTomorrow night...it's the big fight! Floyd Mayweather and Manny Pacquiao are squaring off for the world welterweight title in Las Vegas. The purse--estimated at $300 million dollars--is the most ever for a boxing match. HBO and Showtime are charging $99 dollars a pop to customers like our own Mike Santoli to watch it on pay-per-view. There are sure to be plenty of winners regardless of who wins the bout.
What to watch next weekFinally...it's Friday. Time to look at what we'll be watching next week.
Andy Serwer: Cinco de mayAaron Task: Jobs reportAkiko Fujita: British elections
More from Yahoo FinanceThe department store app that outpaced Uber, Tinder and NikeBitcoin goes mainstream with Goldman Sachs' backingMicrosoft developers conference falls flat, is Apple next? || Smartwatches Bring Good Vibrations: Much like mobile phones brought about an acronym-based texting language and smartphones allowed users to communicate with emoji's, the smartwatch is introducing a new language of its own — vibration.
The idea of communicating through tactile sensations may sound like an impossible task, but developers are using what they already know about people's responses to having their arms grabbed or their hands touched to create intuitive sensations that deliver information to wearers without them having to look down at their wrist.
Ahead Of The Curve
Immersion Corporation(NASDAQ:IMMR) is one such company whoseresearchcenters on how the public receives tactile messages. Called "haptic feedback," Immersion is the leader in creating tiny actuators that vibrate differently for different types of messages. The company uses strength and frequency to convey whether or not a message is time-sensitive or urgent and says its technology can produce between 40 and 70 recognizably different alerts.
Related Link:Expert: Why Apple Watch Will Be Apple's Most Upgradeable Product
The Language Of Feels
Communicating with users through tactile sensations is not a new concept. AtMicrosoft Corporation(NASDAQ:MSFT), haptics researchers have been working to develop a system that will allow users to feel textures on the smooth glass surface of their tablet or phone.Walt Disney Co(NYSE:DIS) is similarly looking into haptic technology in order to improve improve the company's games and movies.
Because this type of user engagement is relatively new, it can be difficult to determine how to correctly stimulate a consumer's tactile senses in a way that enhances their experience rather than taking away from it.
See more from Benzinga
• UK Could Become Bitcoin Hub With New Regulations
• Conflicting Data Makes Rate Increase Difficult To Predict
• Juniper Sees Bitcoin Usage Growing, But Not Among Retailers
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Company Raises Record Amount Of Cash For Mystery Operations: A bitcoin-based business called21 Inchas raised $116 million in venture funding, the largest sum raised by a digital currency startup.
However, it is still unknown just how the company will use its record-breaking sum as 21 Inc. has kept its operations quiet so far.
21 Pledges To Spur On Bitcoin Adoption
Big names likeQUALCOMM, Inc.(NASDAQ:QCOM) andPayPal'sPeter Thiel were among the investors backing 21 Inc., with the company promising to help push bitcoin adoption into the mainstream.
Chef Executive and 21's co-founder Matthew Pauker mysteriously told TheWall Street Journalthat the public can expect some "interesting developments" over the couples of weeks and months that will "drive mainstream adoption of bitcoin" through hardware and software products.
Blockchain And The Internet Of Things
Chipmaker Qualcomm's involvement has sparked speculation that 21 Inc. is looking to use the blockchain technology that powers bitcoin in order to break into the "Internet of Things."
The growing popularity of everyday devices that link to the internet and communicate with users and each other could serve as a perfect access point for bitcoin. Many see the currency's ledger-like blockchain technology eventually integrating into smart devices and creating a secure way to transmit data from one device to another.
Related Link:Bitcoin An Unlikely Solution For The Poor
Growing Interest In Digital Currency
21 Inc.'s funding demonstrates venture capitalists' shifting views on digital currency. Several other companies includingCoinbaseandBitGo Inc.have been able to introduce bitcoin-based businesses due to a growing interest in digital currency firms in Silicon Valley.
Though the new ventures make bitcoin more accessible to the public, there is still a lack of trust and understanding keeping the cryptocurrency from gaining popularity.
For that reason, many believe that firms which focus more on new uses for blockchain technology could be the future for bitcoin adoption.
See more from Benzinga
• American Firms In China Feel Anti-Foreign Sentiment Rising In The Wake Of Qualcomm Settlement
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Ribbit.me Forms Strategic Alliance With Card Capture International, LLC to Integrate Blockchain-Based RibbitRewards Into Its Expansive Merchant Services Platform: NEW YORK, NY --(Marketwired - April 03, 2015) - Key Facts RibbitRewards™ is the first rewards program based on blockchain technology (patent pending), the same technology Bitcoin uses. Card Capture International can now position to seamlessly offer RibbitRewards to both merchants and consumers through its credit and debit processing channels. Ribbit.me is set to launch Marketplace.life™, the first-ever p2p marketplace where buyers and sellers earn RibbitRewards for each transaction, with Card Capture International's merchant services accepting major credit cards. Ribbit.me, the creator of RibbitRewards, the world's first rewards program based on blockchain technology and with its own marketplace, today announced a strategic partnership for Card Capture International DBA Cocard to serve as a merchant processor on Marketplace.life and to incorporate Ribbit.me's blockchain-based RibbitRewards program into its payment processing portfolio. Marketplace.life is an eBay-like, p2p marketplace where merchants and shoppers benefit from the convenience of using one rewards program for all of their purchases, while earning RibbitRewards for each transaction. The marketplace is easy and free for all to use, accepting all major currencies, both fiat and digital. A percentage of RibbitRewards go to buyers, sellers and to charity. " Card Capture's expansive merchant base is an ideal entry point for mainstreaming our rewards program built on blockchain technology," said Sean Dennis, Ribbit.me CEO. "The RibbitRewards program has the potential to save billions of dollars a year across the rewards industry from operating efficiencies, consolidating rewards onto one platform and taking it off balance sheet. We are excited for Card Capture International to be among the first to realize these benefits." "We are pleased to embark down this innovative path with Ribbit.me and believe our investment in their success will have long term financial benefits for our merchants," said Elan Bennett, Card Capture International Owner. "The team at Ribbit.me is comprised of progressive and forward thinkers with sound financial backgrounds in payments, banking and technology. Taking this step with them puts us on the forefront of what is now almost certain to become the future underpinning of all rewards programs." Story continues Ribbit.me is developing a retail plug-in and mobile app so that RibbitRewards can be earned on any merchant platform. Watch for signs that say "Earn RibbitRewards Here" to appear in retail shopping outlets soon. About Ribbit.me Ribbit.me! USA is a U.S.-based Delaware C Corp. Our mailing address is P.O. Box 1817, NY, NY 10159. For more information about RibbitRewards, visit www.ribbit.me . You can also follow us on Facebook (facebook.com/Ribbit.me and facebook.com/Marketplace.life) and Twitter (@RibbitRewards). Embedded Video Available: https://www.youtube.com/watch?v=8_09gwWKfvk || Ripple Labs Expands to Asia Pacific to Serve Regional Demand for Ripple's Real-Time Settlement Protocol: SAN FRANCISCO, CA and SYDNEY, AUSTRALIA--(Marketwired - Apr 6, 2015) - Ripple Labs today announced that it has appointed Dilip Rao as Managing Director of its new Ripple Labs Asia Pacific subsidiary. The office was established in response to growing demand for Ripple's real-time settlement protocol in the region, and to more directly connect interested Ripple Labs partners in the United States and Europe with Asian Pacific markets. According to McKinsey , in 2013, cross-border payments in Asia Pacific totaled $200 billion, and accounted for nearly half of all payment revenues in the region. Also according to McKinsey, Intra-Asia trade flows totaled almost $3 trillion in 2012, and are expected to surpass intra-Europe trade flows to become the largest in the world by 2016. "We are excited to formally unveil a presence in Asia Pacific -- an area that has been aggressively pursuing faster payment technologies for both domestic and cross-border payments," said Ripple Labs CEO and co-founder Chris Larsen. "Dilip is a natural fit to lead this office because of his years of experience in the space and his deep, engaged network in the region." The first office for Ripple Labs Asia Pacific is based in Sydney, Australia, and is actively recruiting integration engineers, architects and other key hires. Ripple Lab Asia Pacific demonstrates the company's commitment to the emerging and dynamic market, and its regional mandate will include Australia, New Zealand, Japan, China and other countries in Southeast Asia and the Middle East. Dilip Rao leads business development and operations for Ripple Labs Asia Pacific. In this role he engages with leading banks, regulators and central banks in support of Ripple's adoption. He has more than 25 years of experience in senior management with technology multinationals in technical, sales and marketing roles in Asia. He has consulted to major banks and corporates in Australia on innovation and was the founder of Australia's first person-to-person payments startup. Story continues Rao holds degrees in Physics and Electrical Engineering and an MBA from the Indian Institute of Management, Ahmedabad, India. "I am thrilled to bring Ripple Labs to Sydney, where we can more effectively serve eager markets in India, Singapore, the Middle East and across APAC," said Rao. "Banks and enterprises can leverage Ripple to more efficiently service the exploding trade and remittance flows in this region." 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. 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 .
[Random Sample of Social Media Buzz (last 60 days)]
Current value of DOGE in BTC: BTER: 0.00000052 -- Volume: 42279201.344 Today's trend: up at 03/23/15 16:00 || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000007
Bittrex: 0.00000007
Average $1.9E-5 per #reddcoin
11:00:01 || $237.64 at 16:45 UTC [24h Range: $233.00 - $239.42 Volume: 4885 BTC] || Current price: 245.16$ $BTCUSD $btc #bitcoin 2015-05-08 16:00:04 EDT || Current price: 194.17£ $BTCGBP $btc #bitcoin 2015-03-11 21:00:05 GMT || One Bitcoin now worth $233.56@bitstamp. High $240.00. Low $233.00. Market Cap $3.296 Billion #bitcoin || Current price: 161.74£ $BTCGBP $btc #bitcoin 2015-04-09 10:00:02 BST || LIVE: Profit = $937.45 (24.14 %). BUY B16.70 @ $231.59 (#BTCe). SELL @ $235.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org || One Bitcoin now worth $253.97@bitstamp. High $284.00. Low $249.00. Market Cap $3.544 Billion #bitcoin || BTCTurk 665.87 TL BTCe 248.56 $ CampBx 254.00 $ BitStamp 251.84 $ Cavirtex 345 $ CEXIO 251.94 $ Bitcoin.de 235.92 € #Bitcoin #btc
|
Trend: down || Prices: 240.30, 242.16, 241.11, 236.38, 236.93, 237.60, 236.15, 236.80, 233.13, 231.95
|
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 2021-02-23]
BTC Price: 48824.43, BTC RSI: 55.36
Gold Price: 1804.40, Gold RSI: 44.73
Oil Price: 61.67, Oil RSI: 74.64
[Random Sample of News (last 60 days)]
Bitcoin Whales Kept Accumulating During Monday’s Crash: Large bitcoin (BTC) investors, popularly known as whales, look to have bought Monday’s price dip, indicating confidence in the ongoing bull market.
The number ofbitcoin“whale entities” – clusters of crypto wallet addresses held by a single network participant holding at least 1,000 BTC – rose slightly to a new record high of 2,140 on Monday. The increase came even as the cryptocurrency’s price collapsed by more than 20% to hit a low of $30,305.
The violent sell-off wasfueled byheavy selling in the spot market and was accompanied byrecord trading volumes. That, however, did not deter big players from accumulating the cryptocurrency, which rallied by 300% in 2020 and hit a record high of $41,962 over the weekend.
Related:CEX, Lies and Videotape: Binance Accuses Rivals of Fighting Dirty
See also:Bitcoin Whales Buy Low, Sell High; Retail Investors Chase Rallies: Data
The dip demand suggests that large investors expect the pullback to be short-lived. The cryptocurrency has seen corrections of more than 20% during previous bull markets. Further, the latest bull market is backed by institutional money, compared to previous ones which were more speculative frenzies. As such, occasional price drops are unlikely to scare away the whales.
Whale address numbers have increased by nearly 25% year on year and have risen by 200 in the past two weeks. The bull run could soon resume, as the network remains healthy and other on-chain indicators are biased bullish,as noted byRafael Schultze-Kraft, CTO of blockchain analytics firm Glassnode.
Also, sell-side liquidity issues, which aided the third quarter’s meteoric rally, could persist, as 78% of all bitcoin (14.5 million BTC) is now illiquid. “It paints a potential bullish picture for bitcoin in the upcoming months, as less bitcoins are available in the network to be bought,” Glassnode said in arecent report.
Related:First Mover: Market Signs Look Healthy as Bitcoin Sell-Off Subsides
Data provided by Glassnode also shows some retail investors or weak hands (investors lacking confidence or resources to hold assets for the long term) have liquidated holdings.
The number of addresses holding less than 0.01 BTC dropped slightly from 8.54 million to 8.53 million total addresses, indicating that some participants responded by selling the drop.
See also:Bitcoin Bull Run: OGs on Why This One’s Different
It’s worth noting that metrics based on addresses may not reveal a precise picture, given a single person or entity may hold multiple addresses.
As of press time, bitcoin is changing hands for around $33,730, up 3.15% on a 24-hour basis, according toCoinDesk 20 data.
• Bitcoin Whales Kept Accumulating During Monday’s Crash
• Bitcoin Whales Kept Accumulating During Monday’s Crash || WallStreetBets Reddit Group: What Is It?: A decentralized Reddit forum called WallStreetBets is causing chaos on Wall Street. The group “r/Wallstreetbets” (aka WSB) is a longstanding subreddit channel where over 3.5 million Reddit users discuss highly speculative trading ideas and strategies. Described as “like 4chan found a Bloomberg Terminal,” the community has caused huge disruption to financial markets this week. On Sept. 19, 2020, a Redditor with the handle Player896 published a post in the channel entitled “Bankrupting Institutional Investors For Dummies, ft GameStop.” In it, the person outlined a strong bullish case for GameStop (GME), a brick-and-mortar business that primarily sells video games and consoles. Since November 2015 the company’s stocks had been steadily declining due to a shift from physical media to digital, and the arrival of the COVID-19 pandemic. The GameStop opportunity Related: US Congress Plans Hearings on GameStop Market Pumps The author noted that GameStop stock was being heavily sold short at the time by a number of institutional investors, despite the fact “their books are rock-solid” and Chewy CEO and co-founder Ryan Cohen had spent almost $76 million for a 12.9% stake in the company. Cohen – the largest individual shareholder of Apple Inc. – later joined the GameStop board along with two former associates from his pet health products company on Jan. 11, causing the stock price to soar 50%. Even after Cohen joined the board and the stock price began to rebound, a handful of hedge funds and other institutional investors continued to short-sell GME stock. This was likely an attempt by large players to out-muscle amateur traders and induce panic selling. The WallStreetBets Reddit community saw this as an opportunity to push back against the financial elite and decided to whip up a buying frenzy in the hopes of creating a major short squeeze. A short squeeze might sound complicated but it’s actually a relatively straightforward process. When institutional investors short-sell a stock, what they actually do is borrow a number of shares they believe will drop in value, sell them at the highest price possible and try to buy them back later at a lower price. If they’re successful, they hand the initial borrowed amount back and pocket the difference. Story continues If the market turns against them, however, and the price of the shares increase, the trader is forced to buy the shares back at a loss. If the price rises dramatically within a short space of time it can cause devastating losses for the short-seller . In addition, because short-sellers are forced to buy back into the asset when a short squeeze happens, it helps drive prices even higher. WallStreetBets crushes hedge funds, crashes trading apps Melvin Capital , a U.S.-based hedge fund, and Citron Research were among the short-sellers impacted by the WallStreetBets army short squeeze. Two major hedge funds, Citadel and Point27 Asset Management, have since stepped in to save Melvin Capital with a $2.75 billion bailout . Related: Market Wrap: Bitcoin Reverses Wednesday’s Losses, Ether Climbs In nine days, GME stocks skyrocketed over 1,800% from $19.79 to a high of $380. Cohen’s 13% stake in the company is now worth $2.5 billion. The world’s richest man, Elon Musk, added even more fuel to the WSB inferno by tweeting his support with the word “ Gamestonk !” – a deliberately misspelled version of “stock” popularized by an internet meme. The WallStreetBets traders didn’t stop there. BlackBerry, AMC, Nokia, and Bed Bath & Beyond have become the next set of heavily shorted stocks to enjoy the WSB treatment, posting 24%, 310%, 70%, and 46% gains on Wednesday, respectively. Mobile-friendly trading apps such as Robinhood and Trading212 both suffered outages during the opening of the American markets Wednesday morning as retail traders flooded in to join the frenzy. In response to this extraordinary event, Adena Friedman, the CEO of Nasdaq – the second-largest stock exchange in the world – said the platform has begun monitoring social media and will halt trading if another WallStreetBets-driven pump is flagged. TD Ameritrade has also limited GameStop trading on its platform. The WallStreetBets Reddit channel briefly went private on Wednesday in response to millions of new users pouring in. Discord also reportedly banned the WallStreetBets server due to a flurry of discriminatory posts and hateful comments. In a post , the moderators of WSB commented, “We have grown to the kind of size we only dreamed of in the time it takes to get a bad night’s sleep. We’ve got so many comments and submissions that we can’t possibly even read them all, let alone act on them as moderators.” Related Stories WallStreetBets Reddit Group: What Is It? WallStreetBets Reddit Group: What Is It? || Dan Deity, Hugh Henne Return To Benzinga's Power Hour To Talk GigCapital3, Bitcoin Plays: Hugh Henne and Dan Knight, hosts of the podcast “Pennies: Going in Raw, joined Luke Jacobi and CEO Jason Raznick onBenzinga’s daily Power Hour show. Hugh and Dan’s podcast is now in the top 10 business podcasts on the charts.
“Nobody is born a great trader,” Henne told ZingerNation. “I vividly remember, I made my summer’s salary in one trade when I didn't know anything. Then I blew up two accounts. I didn't have $10,000 to spend on a course.”
Henne wanted to be able to teach other young people the ins and outs of the trading world, without the expensive barriers of trading courses and workshops.
Bitcoin Play:Dan said he was looking for dips to add to his position in bitcoin stock,Diginex(NASDAQ:EQOS). Some of those dips may have come amid the political chaos earlier this week in Washington, D.C.
“It had some news today, this morning ripped all the way up to $20,” Dan said. “With the Capitol, there were so many good dips. It was definitely something that was awesome when the market realized the Capitol being raided yesterday doesn't really affect today’s markets.”
Shorts?Hugh told Jacobi he's looking at shorting the S&P 500 as a hedge to his existing positions.
“One of the key things that I look at is the 10-year yield,” Henne said. “This market is going up on option flow. I think that we are going to see a huge momentum shift, once that option flow stops we will see that pullback.
Henne said he was looking at February put options around the $350 mark for $SPY.
Who Do You Love?Dan likesGigCapital3(NYSE:GIK), a California-based automation company.
“We actually just got finished with Tim Reeser, CEO of Lightning eMotors, a SPAC merging with $GIK,” he said. “We are very bullish after our long talk. They really want to get all ambulances, UPS trucks, all deliveries on the lightning eMotors.”
“They are not looking for any capital infusion because of this SPAC merger,” Henne added. “That’s huge.”
“Pennies: Going in Raw” is on Apple podcasts as well as on Spotify. In addition, you can catch up on them in the Atlas Trading discord.
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || UPDATE 6-Bitcoin tops $50,000 as it wins more mainstream acceptance: * Bitcoin breaks above $50,000 for first time
* Latest landmark of asset up around 70% YTD
* MicroStrategy to borrow $600 million to buy bitcoin(Adds information on exchange traded funds)
By Thyagaraju Adinarayan and Tom Wilson
LONDON, Feb 16 (Reuters) - Bitcoin rose above $50,000 onTuesday for the first time, adding steam to a rally fuelled bysigns that the world's biggest cryptocurrency is gainingacceptance among mainstream investors and companies.
Bitcoin hit a record $50,603 and was last up0.83% at $48,351. It has risen around 67% so far this year, withmost of the gains coming after electric carmaker Teslasaid it had bought $1.5 billion in bitcoin.
The move by Tesla, which also said it would accept bitcoinas payment, was the latest in a string of large investments thathave vaulted bitcoin from the fringes of finance to companybalance sheets and Wall Street, with U.S. firms and traditionalmoney managers starting to buy the coin.
"The rally in bitcoin in part reflects the recent buoyancyof market confidence but also headlines suggesting an increasein corporate acceptability," said Jane Foley, head of FXStrategy at Rabobank.
Evolve Funds Group said on Tuesday it had applied to launcha Bitcoin exchange-traded fund on the Toronto Stock Exchange.That would be the second planned bitcoin ETF after Canada's mainsecurities regulator approved a fund by Purpose InvestmentsInc.
Such mainstream moves could help bitcoin become a widespreadmeans of payment - having so far failed to achieve large scaleadoption - and in turn bolster prices.
"The more people that adopt it and use it as money, then thegreater the chances of it perhaps being taken on board as amainstream currency," said Russ Mould, investment director of AJBell. "That would feed further speculative interest."
The rush in 2021 by retail and institutional investors comeson top of a 300% rise last year as investors searched forhigh-yielding assets and dollar alternatives amid rock-bottom oreven negative interest rates globally.
The meteoric rise of bitcoin, which traded at a few hundreddollars only five years earlier, has also led major investmentbanks to warn of a speculative bubble.
Bitcoin's rise "blows the doors off prior bubbles," BofAsaid last month.
Despite the mainstream interest, cryptocurrencies remainsubject to patchy oversight globally, with the lack ofregulatory clarity and associations with crime keeping manylarger investors leery of exposure.
U.S. Treasury Secretary Janet Yellen and European CentralBank President Christine Lagarde have both called for tighteroversight of bitcoin.
Some believe extreme volatility is a cause for concern.
"Due to its volatility, bitcoin lacks many of theestablished qualities that make up 'money', such as being astable store of value and unit of account," said GeorgeLagarias, chief economist at Mazars.
DIGITAL GOLD?
Also boosting bitcoin are suggestions that its limitedsupply of 21 million could drive further gains for the virtualasset.
A narrative of bitcoin becoming "digital gold" has gainedtraction as investors predict looming inflation amid massivecentral bank and government stimulus to counter COVID-19.
St. Louis U.S. Federal Reserve President James Bullard toldCNBC on Tuesday that bitcoin's claim to be a gold rival wouldnot threaten greenback dominance.
"Investors want a safe haven, they want a stable store valueand then they want to conduct their investments in thatcurrency," he said. "It's very hard to get a private currency -it's really more like gold - to play that role."
JPMorgan said in January that bitcoin emerged as a rival togold and could trade as high as $146,000 if it becomes anestablished safe-haven.
U.S. business intelligence software firm MicroStrategy Inc, whose CEO is a strong bitcoin proponent, on Tuesdaysaid it would issue $600 million in convertible notes to buyadditional bitcoin.
Meanwhile, smaller cryptocurrency ethereum fell2.42%, after earlier rising to $1,826, just shy of its recordhigh price of $1,875.
With cryptocurrencies collectively worth about $1.5trillion, some investors caution about the value of owning them.
"As an intangible asset with no yield or practical use, savefor a few organisations who accept it as payment, it is reallyjust demand (against a predictable supply) which determines itsprice," said Mazars' Lagarias.
"But whereas the price of bitcoin has risen to the skies,what value one gets from holding it in a long-term portfoliostill remains subject of much debate."
(Reporting by Thyagaraju Adinarayan and Tom Wilson in London;additional reporting by Anna Irrera and Joice Alves in London,Susan Heavey in Washington and Karen Brettell in New York;editing by David Evans, Dan Grebler and Sam Holmes) || A Tesla for a bitcoin: Musk drives up cryptocurrency price with $1.5 billion purchase: By Subrat Patnaik, Anna Irrera and David Randall
(Reuters) - Bitcoin took another large stride toward mainstream acceptance on Monday after billionaire Elon Musk's electric vehicle company Tesla Inc revealed it had bought $1.5 billion of the cryptocurrency and would soon accept it as a form of payment for cars, sending the cryptocurrency shooting higher.
The announcements, buried deep in Tesla's 2020 annual report, drove a roughly 20% surge in the world's most widely held cryptocurrency to over $47,000. At current prices, 0.8 bitcoins would be enough to buy an entry-level Tesla Model 3.
Investors anticipated other companies will soon join a list of firms that invest in or hold bitcoin including BlackRock Inc, the world's largest asset manager, and payments companies Square and PayPal.
Musk has upended Wall Street over the last year and briefly became the world's richest person as shares of Tesla surged nearly 500% to become the fifth most-valuable U.S. company, leaving other companies and investors eager to follow in his wake.
"If any lesser mortals had made the decision to put part of their balance sheet in Bitcoin, I don't think it would have been taken seriously," said Thomas Hayes, managing member at Great Hill Capital LLC in New York. "But when the richest man in the world does it, everyone has to take a second look."
The news sparked heavy trading in cryptocurrencies and caused exchanges like Coinbase, Gemini, Binance to experience technical issues, according to Coindesk https://www.coindesk.com/top-crypto-exchanges-technical-difficulties-tesla-bitcoin-trading-frenzy.
It also generated discussion on Reddit. While discussions of cryptocurrencies are banned on the WallStreetBets community that fueled the GameStop Corp trading frenzy, users in other subreddits posted "to the moon," expecting more companies to follow suit after Tesla.
A well-known supporter of cryptocurrencies, Musk has weighed in regularly on the past month's frenzy in retail investment, also driving up prices of the meme-based digital currency dogecoin and shares of U.S. video game chain GameStop.
Experts said they would not be surprised by a closer look from regulators given Musk's bumpy past with watchdogs.
The Securities and Exchange Commission sparred with Musk and Tesla several times over his use of Twitter to discuss the company, ultimately resulting in his exit as company chairman and a pair of $20 million fines for Musk and Tesla.
"We're talking about a billionaire with one of the most valuable companies in the history of the world who has seemingly gotten away with poking the SEC before," said Tyler Gellasch, head of the Washington-based Healthy Markets Association and former SEC official. Still, Gellasch said that "examination doesn't mean this is likely to be an enforcement case."
Tesla said in a filing the decision to move nearly 8% of its reserves into bitcoin was part of its broad investment policy as a company aimed at diversifying and maximizing its returns on cash, including holding gold. The report said it ended 2020 with $19.38 billion in cash and cash equivalents.
"We expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt," the company said.
Tesla said it had invested an aggregate $1.5 billion in bitcoin under the changed policy and could "acquire and hold digital assets from time to time or long-term". (https://bit.ly/3q53p1m) Shares of the company rose 1.3% Monday.
Gold jumped more than 1% Monday while ethereum, another cryptocurrency, surged to a record high.
LONG-TERM STORE OF VALUE?
Central banks remain skeptical of digital currencies, but analysts say the more real world uses appear for bitcoin, the more attractive it will prove as a long-term store of value.
Bitcoin has rallied as far as $47,565 after Tesla's disclosure. The cryptocurrency is up 1135% since March 2020, thanks in part to interest from institutional investors.
"The argument for bitcoin is evolving. It used to be negative (reasons to buy), but suddenly there are positive reasons, and that's why you see bitcoin at (new highs)," Mohamed El-Erian, chief economic advisor of Allianz, told CNBC.
Tesla is the latest company to add bitcoin to its corporate treasury, following similar moves by Square, the payments company led by Twitter Inc chief Jack Dorsey and U.S. software firm MicroStrategy Inc.
Apple Inc may be the next big company to enter the cryptocurrency market, both by allowing bitcoin to be exchanged on its Apple Wallet service and investing some of its own reserves in units of the cryptocurrency, said Mitch Steves, an analyst at RBC Capital Markets.
"If this becomes a trend in corporate treasuries the downside of staying on the sidelines will only become costlier over time," said Maya Zehavi, a blockchain consultant.
(GRAPHIC-Bitcoin hits record high on Tesla investment: https://graphics.reuters.com/CRYPTO-CURRENCY/TESLA%20CRYPTO-CENRRENCY/bdwpkngldvm/Bitcoin.png)
Tesla's move to put some of its corporate reserves in bitcoin may be a signal that it expects the cryptocurrency will emerge as another store of long-term value alongside the dollar and gold, said Graham Tanaka, president and chief investment officer of Tanaka Capital Management in New York.
"Companies are very careful when it comes down to their reserves," he said. "This doesn't appear to be a flash in the pan. It appears to be something that may be a fundamental change."
(Reporting by Subrat Patnaik and Devik Jain in Bengaluru, Thyagaraju Adinarayan and Anna Irrera in London, Chris Prentice, Pete Schroeder, Krystal Hu and April Joyner in New York; Writing by Patrick Graham and David Randall; Editing by Megan Davies, Saumyadeb Chakrabarty, Nick Zieminski and Lisa Shumaker) || Bitcoin flash crash sees biggest price drop in cryptocurrency history: Bitcoin fell in price from $34,000 to below $29,000 on Monday morning (Getty Images/iStockphoto) The price of bitcoin has plummeted by more than $5,000 in what is the single biggest crash in its history. After hitting a new all-time high on Sunday above $34,000 (£25,000), the cryptocurrencys price began to tumble before suddenly dropping below $29,000 on Monday morning. Bitcoin had never previously lost more than $4,000 in the space of a few hours, though more severe crashes in terms of percentage losses were seen following the 2017 bull run. Bitcoin price LIVE: Follow all the latest updates and analysis The latest flash crash coincided with stock markets around the world hitting record highs in the first trading day of 2021. The cryptocurrency has since recovered slightly and is currently trading at around the $30,000 mark. The losses once again highlight the volatility of bitcoin, which is increasingly being viewed as a store of value rather than a medium of exchange. Wild swings in value make it inefficient to use as an everyday currency; however, its inbuilt scarcity makes it an attractive investment option at a time when measures like quantitative easing are devaluing traditional fiat currencies. With the total supply of the cryptocurrency limited to 21 million bitcoins, some investors have referred to it as digital gold . Bitcoins gains in 2020 were 10 times greater than those of actual gold, rising by more than 300 per cent. As recently as March, bitcoin was trading below $5,000, having previously peaked at around $20,000 in late 2017. Market analysts remain optimistic that more gains will likely follow this year as a result of the global economic strain caused by the coronavirus pandemic, though they also warn that any increases will likely be followed by significant drops. With bitcoin having broken $30,000, I think its very likely that the asset will eventually pass $100,000 per coin, Sergey Nazarov, co-founder of blockchain firm Chainlink, told The Independent . "People have been steadily losing faith in their government currencies for years, and the monetary policies resulting from the economic impact of the coronavirus have only accelerated the decline. Many people now understand that central banks around the world are printing money with no end in sight, which is why theyre desperately pouring cash into stocks with prices that are disconnected from reality. Read More Bitcoin rival surges 20% after Elon Musk tweets about it View comments || ‘Long Tech’ Retakes Most-Crowded Trade Crown from Bitcoin: Bank of America Survey: A bullish bet on technology stocks, or “long tech,” has reclaimed the title of most-crowded trade in the financial markets, according to Bank of America’s (BofA) February survey of fund managers. According to a Reuters report Tuesday, the move pushed “long bitcoin” back into the number two slot, having been most crowded trade in January. Bitcoin saw a surge in capital inflow last month, with prices reaching then-record highs above $40,000 on Jan. 8 – a 300% gain from early October lows near $10,000. Before that, betting in favor of technology stocks was the most preferred trade throughout the final quarter of 2020. Related: Popular Crypto App Found to Have Ties to Data Tracking Company: Report While the top cryptocurrency has printed fresh lifetime highs near $50,000 in February on a wave of institutional adoption, capital inflows have cooled. Reflecting a generally conservative view, only 5% of global fund managers expect bitcoin to outperform other asset classes in 2021 versus nearly 60% for emerging market equities. Bitcoin, however, is expected to outshine gold. The top cryptocurrency rose 300% in 2020, outperforming every major asset class, and has gained 70% this year. So far this year, bitcoin is up 68%, while S&P500 stocks are up 4.7% and gold is down 3.8%. Related: Is $50,000 BTC the Beginning of a Bitcoin Supercycle? Also read: Bitcoin Recovers From Dip to Set New Record High Close to $50K Crypto traders expect corporate demand for bitcoin to pick up in the wake of Tesla’s recent decision to put $1.5 billion into the cryptocurrency, leading to a more substantial price rally. The BofA research shows betting against the U.S. dollar (“short dollar”) is still the third most-crowded trade. Meanwhile, cash levels in investment portfolios have plunged to 3.8% – the lowest level since 2013. According to the fund manager survey , when cash levels drop below the 4% mark, it indicates over-optimism and triggers a contrarian sell signal. Related Stories ‘Long Tech’ Retakes Most-Crowded Trade Crown from Bitcoin: Bank of America Survey ‘Long Tech’ Retakes Most-Crowded Trade Crown from Bitcoin: Bank of America Survey || Labor SMART, Inc. To Accept Bitcoin and Ethereum as Payment: ATLANTA, Feb. 17, 2021 (GLOBE NEWSWIRE) -- Labor SMART, Inc. (LTNC) (the “Company”), a leader in providing on-demand blue collar staffing primarily in the southeastern United States, today announced the decision to accept Bitcoin and Ethereum as payment methods for its services.
As more institutions adopt cryptocurrency into their asset management strategies, the Company believes offering BTC and ETH as payment options will expand client flexibility.
Ryan Schadel, President and CEO of Labor Smart stated, “Every week, we generate invoices and send them to our clients. If we take a credit card payment for the invoice, we are paying up to 3% for merchant services. If we take a check as payment, we are waiting 4 or 5 weeks to be paid. If we borrow against the receivable for cash flow, we are paying 2 or 3%. By giving our clients the option to pay in Bitcoin or Ethereum, not only are we giving them more flexibility with how they manage their own cash flow, but we will save on processing fees.”
Mr. Schadel continued, “Mainstream institutions are embracing crypto for its potential as a value store, payment method, and investment. As we continue to expand our business, we now have another valuable selling point. I believe crypto will be the preferred payment standard of the future and we are proud to be the very first in the staffing industry to accept crypto as payment.”
The Company expects the payment method to be live by mid-March via Coinbase.
On February 12, 2021, the Company disclosed its intentions to become current with otcmarkets.com.
About Labor SMART, Inc.Labor SMART, Inc. provides On-Demand temporary labor to a variety of industries. The Company's clients range from small businesses to Fortune 100 companies. Labor SMART was founded to provide reliable, dependable and flexible resources for on-demand personnel to small and large businesses in areas that include construction, manufacturing, hospitality, event-staffing, restoration, warehousing, retailing, disaster relief and cleanup, demolition and landscaping. Labor SMART believes it can make a positive contribution each and every day for the benefit of its clients and temporary employees. The Company's mission is to be the provider of choice to its growing portfolio of customers with a service-focused approach that enables Labor SMART to be seen as a resource and partner to its clients.
Safe Harbor StatementThis release contains statements that constitute 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. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Labor SMART, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may", "would", "will", "expect", "estimate", "can", "believe", "potential", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Labor SMART, Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Labor SMART, Inc.'s filings with OTC Markets.com.
Contact:Labor SMART, [email protected] || How bitcoin narratives have evolved to fuel current price surge: If the running joke of the late 2017 bitcoin price surge was the image of families discussing crypto around the Thanksgiving dinner table (“Grandma, you should buylitecoin!”), the theme of the late 2020 run has been Wall Street hedge fund runners and billionaire investors going on television to say some form of, “I was wrong.”
In the past year,Paul Tudor Jones said he has put 2% of his portfolio in bitcoinand predicted that as new cryptocurrencies proliferate, bitcoin will become even more distinct as the “precious crypto.”Stan Druckenmiller said he has bought bitcoin, and predicts his “bitcoin bet will probably work better” than his gold bet “because it’s thinner, more illiquid and has a lot more beta to it.” Ray Dalio, one month after saying on Twitter that he sees three major problems with bitcoin, including the potential for governments to “outlaw” them,reversed his tune, now saying bitcoin “could serve as a diversifier to gold” and that investors ought to “have some of these types of assets.” Jamie Dimon, three years after calling bitcoin a “fraud... worse than tulip bulbs,” now says bitcoin is merely “not my cup of tea” and acknowledged that “very smart people” are investing in bitcoin. His bank in 2020 partnered with multiple major U.S. bitcoin exchanges.
In 2020, Wall Street warmed up to bitcoin. So did big consumer-facing payments names likePayPalandSquare, two brands with more mass recognition and legitimacy than, say,early crypto adopter Overstock.com.VisaandFidelityare some of the other major financial names that have partnered with crypto startups or dipped into crypto in other forms, if not quite as loudly as PayPal (PYPL) and Square (SQ).
The COVID-19 pandemicprovided the spark. With central banks pulling levers and printing stimulus checks, bitcoin’s long-hyped appeal as “digital gold” and a hedge against inflation became more convincing than ever before. “There’s so many uncertainties in this pandemic, but one thing that seems almost assured is when you print trillions of dollars more paper money, it’s going to drive up bitcoin and other cyptocurrencies,” Dan Morehead, CEO of crypto firm Pantera Capital,said in August.
Bitcoin took more than 10 years tohit $20,000on most exchanges (since cryptocurrency is traded on multiple exchanges, there israrely one consensus price). Then it leaptfrom $20,000 to $30,000in a little over two weeks. It topped $35,000 four days later.
Since its inception, the bitcoin market has always been fueled by narratives.
After events like the FBI shutting down Silk Road in 2013 (an online black market site that used bitcoin as its payment) and the theft of 850,000 bitcoins from Mt. Gox in 2014 (an early bitcoin exchange that filed bankruptcy shortly thereafter), bitcoin was for yearsdogged by a stigmathat it is unsafe, subject to theft, and favored by hackers and scammers.
Crypto diehards adopted the retort that the U.S. dollar is used for crime too, but it didn’t do much to combat bitcoin’s association with cybercrime. Over the years, Nouriel Roubini called bitcoin the “mother of all scams”; Jamie Dimon called it “fraud”; Saudi Arabia’s Prince Alwaleed called it “Enron in the making”; and Charlie Munger of Berkshire Hathaway called it “disgusting... stupid... turds.”
The image of bitcoin as vaguely fraudulent lingered, but bitcoin andether(the token of the Ethereum blockchain, launched in 2015, and the No. 2 cryptocurrency by market cap) both eventually enjoyed a boost in legitimacy compared to the junky,meme-based coinsof the ICO boom.
Amid bitcoin’s dramatic surge in 2017, fledgling tech startups flocked to a new funding method: the initial coin offering, in which a company creates and sells its own digital token to raise instant capital without begging at the feet of venture capital firms. Token sales began in 2014, but intensified with the rise of Ethereum andpeaked in Q4 2017, with investors buying $3.4 billion worthof newly created coins,more than three-quarters of them from companies that had no productand had done nothing apart from sell the token.
Then 2018 brought the ICO bust, as theSEC widened its crackdown on companies that conducted token salesandrepeatedly made clear its view that the vast majority were unregistered securities offerings. (At a Yahoo Finance summit in 2018, an SEC officialdeclared that the agency does not view bitcoin and ether as securities; XRP, the token created by Ripple Labs, iscurrently facing a $1.3 billion SEC suit over this same distinction.)
With the ICO frenzy largely in the rearview, and with the largest U.S. crypto exchange siteCoinbase planning to go public this year, the bitcoin market may be entering a new phase of maturity. The hope among crypto investors: “This time is different” from 2017.
Wall Street investment firms pumped a total $5.75 billion into crypto funds in 2020, up 660% from 2019, according to acrypto inflows reportfrom CoinShares. That flood has boosted Grayscale Investments, the largest crypto asset fund, to $20 billion in assets.
The surge has brought theoverall crypto market cap above $1 trillion for the first time. This week, trading volume across the major cryptocurrency exchanges hit a new daily record of $68.3 billion,according to CryptoCompare, suggesting an extremely active (if also volatile) trading market. The blockchain research firm Glassnode estimates so much bitcoin is being held by long-term institutional investors thatjust 22% of existing bitcoin is in circulation for trading, which could mean increased volatility.
But with maturity comes regulation.
Last month, FinCEN (the Financial Crimes Enforcement Network, an arm of the U.S. Treasury) proposed new, tighter customer information rules for crypto wallets. Companies that hold customer crypto funds were quick to voice their displeasure. Squarereleased a statementsaying that the new rules “would not only hamstring law enforcement capabilities, but also limit American innovation by hindering our ability to create a competitive service that allows customers to seamlessly transfer and transact in crypto.” Coinbase and the powerful VC firm Andreessen Horowitz plan to fight the rules in court. Separately, this week the OCC (Office of the Comptroller of the Currency, a different bureau within Treasury) declared that federally chartered banks are free to embracestablecoins, cryptocurrencies that are pegged to the price of the fiat currency like the U.S. dollar to limit volatility. (Facebook’s intended Libra token, now rebranded Diem, is a stablecoin.)
Wall Street firms may welcome regulation as a sign of seriousness, but regulation is at odds with the original appeal of bitcoin to its earliest adopters (many of whom were libertarian): that it’s outside government reach and control, unregulated, no middleman. This push and pull is yet another narrative that will continue and intensify in 2021 and beyond, as the bitcoin investment market matures.
—
Daniel Roberts is an editor-at-large at Yahoo Finance and has covered bitcoin since 2011. Follow him on Twitter at @readDanwrite.
Read more:
Bitcoin breaks $30,000 as 2020 surge continues into new year
Bitcoin shatters $20,000 mark, breakthrough price milestone for the largest digital asset
Bitcoin hits new all time high close to $20k, driven by institutional buying
Visa has also quietly warmed to crypto, along with PayPal and Square
Why bitcoin and altcoins are hot again this summer
Square's bitcoin bet is paying off
Jamie Dimon says bitcoin is 'not my cup of tea' even as JPMorgan has warmed to crypto || Elon Musk says bitcoin "on the verge" of being more widely accepted: SAN FRANCISCO (Reuters) - Billionaire Elon Musk said on Monday bitcoin was "on the verge" of being more widely accepted among investors as he expressed his support for the cryptocurrency in a chat on social media app Clubhouse that drew thousands of listeners.
The comments followed his use of the "#bitcoin" tag on his Twitter profile on Friday, which pushed the crytocurrency up 14%.
Musk, CEO of Tesla Inc, is known for making comments on Twitter that move markets and he acknowledged this during his debut on the invitation-only app Clubhouse.
"I am a supporter of bitcoin," he said.
"I was a little slow on the uptake," he said, adding he should have bought it eight years ago.
"I think bitcoin is on the verge of getting broad acceptance by conventional finance people."
Bitcoin last traded up 3.7% at $34,390, having surged over 300% in 2020.
On the wide-ranging chat Musk discussed memes, Mars, his companies, and vaccines, among other topics. He also interviewed Vladimir Tenev, co-founder of online stock broker app Robinhood, which is under fire for blocking retail investors from purchasing GameStop stock.
GameStop stock surged some 400% in the past week after retail investors banded together to buy shares in the U.S. video game retailer, sending hedge funds scrambling to cover losing bets.
Tenev said the market rumour was untrue that Citadel Securities - the market-making arm of billionaire hedge-fund manager Ken Griffin - had pressured Robinhood into blocking retail investors.
"That's just false," Tenev said, adding that Robinhood temporarily halted trading to meet regulatory capital requirements.
Musk last week tweeted "Gamestonk!!," which many in the market interpreted as an apparent show of support for small investors. "Stonks" is a tongue-in-cheek term for stocks widely used on social media.
Musk also chatted about COVID-19 vaccines, saying he expected an avalanche of them soon. He added that authorities should focus on giving out the first dose of vaccines soon and worry about the second shot later, to speed things up.
(Reporting by Sayantani Ghosh in Singapore and Hyunjoo Jin in San Francisco; Editing by Ana Nicolaci da Costa)
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 49705.33, 47093.85, 46339.76, 46188.45, 45137.77, 49631.24, 48378.99, 50538.24, 48561.17, 48927.30
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2019-09-12]
BTC Price: 10410.13, BTC RSI: 51.54
Gold Price: 1498.70, Gold RSI: 49.80
Oil Price: 55.09, Oil RSI: 47.34
[Random Sample of News (last 60 days)]
Is Open Season for Central Bank Gold Buying About to Begin?: On July 26, the European Central Bank (ECB) made an announcement that could have an impact of future gold prices. According to Reuters, European central banks ditched a 20-year-old agreement to coordinate their gold sales, saying they have no plan to sell large amounts of the metal, the ECB said on Friday. ECB Press Release “>Signatories of the fourth Central Bank Gold Agreement no longer see need for formal agreement as market has developed and matured.” “>Signatory central banks confirm gold remains an important element of global monetary reserves and none of them currently has plans to sell significant amounts of gold.” “The European Central Bank (ECB) and 21 other central banks that are signatories of the Central Bank Gold Agreement (CBGA) have decided not to renew the Agreement upon its expiry in September 2019” “The first CBGA was signed in 1999 to coordinate the planned gold sales by the various central banks. When it was introduced, the Agreement contributed to balanced conditions in the gold market by providing transparency regarding the intentions of the signatories. It was renewed three times in 2004, 2009 and 2014, gradually moving towards less stringent terms.” “Since 1999 the global gold market has developed considerably in terms of maturity, liquidity and investor base. The gold price has increased around five-fold over the same period. The signatories have not sold significant amounts of gold for nearly a decade, and central banks and other official institutions in general have become net buyers of gold.” “The signatories confirm that gold remains an important element of global monetary reserves, as it continues to provide asset diversification benefits and none of them currently has plans to sell significant amounts of gold.” Why Now? The decision to not renew the agreement highlights how sentiment toward the precious metal have changed since the global financial crisis. Additionally, European central banks have become net purchasers since the 2008 financial crisis, with Poland and Hungary most recently building up gold assets on a large-scale. Story continues “There has been a sea change in central banks’ attitudes toward gold since the financial crisis,” said Natalie Dempster, a managing director at the World Gold Council. “Europe is itself now a net buyer of gold – no one needs a sales agreement anymore.” Keep an Eye on the Central Banks According to BullionStar, “…this latest news about the non-renewal of the CBGA is important because it is the best evidence yet that there most likely is an unpublished agreement among the participating European central banks not to buy any gold, but that this private agreement not to buy gold is now being torn up. Which would mean that open season for central bank gold buying is about to begin.” Others are saying there could be increased fears of central bank selling. My take is that the news should lead to increased volatility in the gold market. This article was originally posted on FX Empire More From FXEMPIRE: Fed Meeting And Trade Talks to Dominate This Week’s Action Geopolitical Risk and Sentiment towards Monetary Policy the Key Drivers Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 29/07/19 USD/CAD Daily Forecast – Multi-Frame Analysis Showing Bear Dominance EUR/USD Daily Forecast – Euro Struggles to Gain from Support Us Stocks Seem To Be Following Our Predictions – Get Ready (PART II) || Japanese messaging giant LINE wins crypto exchange license from regulator: Japanese messaging giant LINE has just received a license to operate the cryptocurrency exchange business in the country. Japan’s Financial Services Agency (FSA) granted the license to LINE’s blockchain unit LVC Corporation on Friday. The approval will allow the firm to offer cryptocurrency trading services to its over 80 million users. Back in June, there were reports that LINE is close to getting the license for its platform called BitMax in Japan. This is now LINE's second cryptocurrency exchange, having launched Bitbox in Singapore in July 2018. The Japanese platform BitMax has been approved to offer trading in five cryptocurrencies - bitcoin (BTC), ether (ETH), bitcoin cash (BCH), litecoin (LTC) and XRP, according to the FSA’s announcement. LINE's unit becomes one of twenty licensed cryptocurrency exchanges in Japan, which include recently approved Rakuten Wallet, as well as older players such as Coincheck and SBI VC Trade, among others. || E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Closed on Bullish Side of Fibonacci Level at 26494: September E-mini Dow Jones Industrial Average futures finished higher on Friday, underpinned by optimism over the resumption of trade talks between the United States and China in early October, but capped by a mixed U.S. Non-Farm Payrolls report. Upbeat comments from Federal Reserve Chairman Jerome Powell also helped nudge prices higher. On Friday, September E-mini Dow Jones Industrial Average futures settled at 26808, up 107 or +0.40%. Daily September E-mini Dow Jones Industrial Average Daily Swing Chart Technical Analysis The main trend is up according to the daily swing chart. Although the main trend turned up the previous week, the price action suggested the market wasn’t ready to move higher because of the light volume ahead of the U.S. holiday weekend. After regrouping early in the week, the uptrend resumed on September 5 when the Dow exploded over 26559. The main bottom is 25266. A trade through this bottom will change the main trend to down. The minor trend is also up. The minor trend will change to down on a trade through 25977. This will shift momentum to the downside. The short-term range is 27397 to 25032. Its retracement zone at 26494 to 26215 is support. Holding above this area is helping to generate an upside bias. The main range is 24626 to 27397. Its retracement zone at 26012 to 25685 is major support. This zone is also controlling the longer-term direction of the market. Daily Swing Chart Technical Forecast Trading will begin on Monday with the Dow well above support and well below resistance. Therefore, we’re going to focus on the chart pattern. The session begins with the September E-mini Dow Jones Industrial Average up eight days from its last main bottom. This puts it in the window of time for a closing price reversal top. Bullish Scenario A sustained move over 26869 will indicate the presence of buyers. The daily chart indicates there is no resistance until 27358 to 27397. Bearish Scenario A sustained move under 26869 will signal the presence of sellers. Selling pressure should increase if the market turns lower for the session under 26808. Taking out Friday’s low at 26686 will indicate the selling is getting stronger with 26494 the next likely downside target. Story continues Closing Price Reversal Top Taking out Friday’s high at 26869 then turning lower for the day will form a closing price reversal top. If confirmed, this could trigger the start of a 2 to 3 day correction. This article was originally posted on FX Empire More From FXEMPIRE: Forex Daily Recap – USD/CAD Slipped as Loonie Rose over Upbeat Data Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 08/09/19 E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Could Close on Strong Side of Key Gann Angle at 26789 Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 07/09/19 U.S. Dollar Index Futures (DX) Technical Analysis – Powell’s Positive Comments Fuel Rebound Rally AUD/USD Forex Technical Analysis – Big Decision for Short-Sellers at .6880 to .6927 || The Most Actively Traded Stocks On OTC Markets In July: This post is from Benzinga's Partner Content team More than 4 billion shares—or $7.7 billion—exchanged hands on the OTCQX Best Market and OTCQB Venture Market in July. These were the most active individual securities on each of the top tiers of OTC Markets. OTCQX Market 1) Grayscale Bitcoin Trust For the third month in a row, the Grayscale Bitcoin Trust (BTC) (OTCQX: GBTC ) was the most actively traded security on OTCQX, with just under $2 billion worth of shares traded during the month. At $6.2 billion in dollar volume, GBTC is now the most actively traded security on the entire market in 2019. 2) Roche Swiss healthcare giant Roche Holding Ltd (OTCQX: RHHBY ) was the second most active security on OTCQX in July, with $716 million worth of shares changing hands. Though that figure was down month-over-month, Roche’s $5.7 billion worth of shares traded to date make it the second most active security on the market this year. 3) Infineon Technologies Though Infineon Technologies AG (OTCQX: IFNNY ) is typically one of the more active names on OTCQX, it’s unusual to see it so high on this list. The German semiconductor company saw its dollar volume increase 104% to $286 million in July after the company agreed to buy Cypress Semiconductor for $23.85 per share. Infineon’s year-to-date dollar volume ranks below names such as Curaleaf Holdings Inc. (OTCQX: CURLF ) and BNP Paribas (OTCQX: BNPQY ). 4) Charlotte’s Web Charlotte’s Web Holdings Inc. (OTCQX: CWBHF ) saw its dollar volume rise 87% from June to July. At $912 million worth of shares traded to date, Charlotte’s Web is now the most actively traded cannabis stock on OTC Markets. 5) Danone Another frequent security among the most active names on OTCQX, $194 million worth of shares of French food company Danone (OTCQX: DANOY ) traded in July. The stock was buoyed by the company’s strong earnings report, specifically a surprisingly strong 2.5% increase in baby food sales in China. OTCQB Market On the OTCQB Venture Market, varying share classes of Freddie Mae and Fannie Mac were once again the most actively traded during the month. Year-to-date, four share classes of the government-sponsored entities have traded more than $1 billion worth of shares: Fannie Mae (OTCQB: FNMAS ) (OTCQB: FNMA ), and Freddie Mac (OTCQB: FMCKJ ) (OTCQB: FMCC ). Story continues One share class of Freddie Mac (OTCQB: FMCCK ) saw $17 million worth of shares trade in July, a 9,000% month-over-month increase in activity. According to a Cowen Washington Research Group note obtained by HousingWire , investors hoping for new rules regarding the release of the two companies from under the government’s purview could be at least six months away. Other securities that experienced large dollar volume increases in July were United Cannabis Corp. (OTCQB: CNAB ), which saw its dollar volume increase 1,407% after the company announced it was awarded a contract for its CBD oil worth up to $42 million, and Green Growth Brands Inc. (OTCQB: GGBXF ), whose volume rose 127%. The company recently announced that its hemp products will be available in American Eagle Outfitters (NYSE: AEO ) stores. The 10 Most Active Securities On OTCQX In July Company Name Symbol Country July Volume ($) Grayscale Bitcoin Trust (BTC) GBTC USA $1,988,302,154 Roche Holding Ltd RHHBY Switzerland $716,321,727 Infineon Technologies AG IFNNY Germany $286,372,470 Charlottes Web Hldgs Inc. CWBHF USA $194,247,170 Danone DANOY France $182,887,131 BASF SE BASFY Germany $165,294,876 Imperial Brands PLC IMBBY United Kingdom $154,096,357 Curaleaf Hldgs Inc. CURLF USA $135,893,259 adidas AG ADDYY Germany $96,236,677 BNP Paribas BNPQY France $95,807,946 The 10 Most Active Securities On OTCQB In July Company Name Symbol Country July Volume ($) Fannie Mae FNMAS USA $376,202,287 Freddie Mac FMCKJ USA $288,046,493 Fannie Mae FNMA USA $239,277,319 Freddie Mac FMCC USA $94,023,091 Fannie Mae FNMAT USA $52,337,837 Kraig Biocraft Laboratories, Inc. KBLB USA $47,942,455 CV Sciences, Inc. CVSI USA $33,522,795 Green Growth Brands Inc. GGBXF Canada $30,942,895 Freddie Mac FMCCK USA $17,225,181 Valens Groworks Corp VGWCF Canada $14,161,417 OTC Markets is a content partner of Benzinga See more from Benzinga The First Half Of 2019 On OTC Markets: By The Numbers The Most Actively Traded Securities On OTC Markets In June © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Circle CEO: Bitcoin still a safe haven asset despite recent wild ride: Bitcoinhas been on a rollercoaster ride over the last couple weeks.
But that isn’t stopping Circle CEO Jeremy Allaire fromreassuring the crypto faithfulthat Bitcoin remains an “attractive” safety blanket from global economic uncertainty.
Following President Donald Trump’s announcement late last week that$300 billion in new tariffswould strike several new products from China, Bitcoin jumped into the $11,700 range. Meanwhile, the stock markets showed signs of stress and decline—a scenario which appeared to reinforce the idea that a growing number of people may view Bitcoin as a form of “digital gold” to preserve their wealth in times of economic crisis.
Since then, the price has died down a bit as concerns regarding the trade war have begun to subside. Just yesterday, Bitcoin was trading at $10,300, a drop by roughly $1,400 since early August, though it’snow moved up to about $10,700.
But despite those sharp ups and downs, Allaire believes Bitcoin is still a “safe haven” asset: “Clearly, a non-sovereign digital asset like bitcoin is attractive to people who are interested in moving capital into a place where they can control it themselves,” he told CNBC this morning.
“That underscores a lot of interest that’s been there over time. It’s the digital gold thesis, and I think a lot of both institutional accumulators of bitcoin, individuals, very specifically individuals in jurisdictions or environments where the intense concern about capital controls are there. That’s an underlying thesis that I think has had an impact on it for the last eight years,” Allaire said.
One of his suggestions for the recent volatility is that traders are looking to cash in following steady gains. “Last week […] you saw there were a lot of holders whose broader portfolios were taking a hit,” he explained. “Obviously, Bitcoin is up over 100 percent, almost 200 percent over the past nine months or so. That’s a place to take some gains as well. Depending on the type of holder, you’re going to see slightly different behaviors during these market moves.”
The crypto industry as a whole has enjoyed some newfound attention in recent months following Facebook’s entry into the space with Libra, which also means renewed interest from lawmakers and regulators. In a recent hearing before the Senate Financial Committee, Allaire spoke of thepresent financial system, which he says hinders everyday people from access to standard capital. He said at the time that blockchain technology can tackle this challenge granted it “develops responsibly.”
In this vein, Allaire’s Circle has garnered money transmission licenses in approximately 48 states,including New York’s rigorous(some might even say “onerous”) BitLicense. Allaire has said that many companies are working hard to meet compliance needs and do what’s right, but one major problem is that applicable laws have yet to be updated to meet present conditions.
Allaire told CNBC today, however, that he believes governments around the world are now paying much closer attention, particularly the Group of Seven (G7) nations of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States:
“Crypto as an agenda item is absolutely on the docket,” he said. “It’s becoming a major topic not just because of the continued growth of things like bitcoin but also the growth in stablecoins like USD Coin and Libra.” || Cannabis Industry Seeing Growing Interest: It wasn’t so long ago that publicly traded companies shied away from investing in the nascent marijuana industry, even as California and Colorado began the legalization trend.
Times have quickly changed. While cannabis remains illegal on the federal level, 10 states have fully legalized marijuana, and many others have moved to decriminalize the crop. However, it’s fully illegal in 12 states, and many other states only allow cannabis for medicinal purposes.
But, with Canada having legalized cannabis nationwide, and with attitudes toward the drug seeming to be softening, more industries are cropping up to support the growing sector. Here are some ideas on how to invest in the cannabis industry.
Budding Prospects
James Boyd, education coach at TD Ameritrade, pointed out some Canadian publicly traded cannabis-related companies now have dual listings on the New York Stock Exchange™ and Nasdaq™. He cited a Fortune report attributed to cannabis-industry advisory firm Viridian Capital Advisors that stated cannabis-related companies raised almost $13.8 billion in 2018 versus $3.5 billion in 2017.
That kind of growth may just be the beginning, Boyd remarked.
The big news stories around the industry center on consuming companies, such as the 2018 news that beer and spirits makerConstellation Brands Inc(NYSE:STZ) increased its investment in Canadian medical-cannabis producerCanopy Growth Corp(NYSE:CGC) to 38%. Constellation said at the time it expected cannabis to be legal in the United States. Another beer maker,Molson Coors Brewing(NYSE:TAP) has a 57.5% ownership in Canadian cannabis makerHEXO Corp(NYSE:HEXO) to make non-alcoholic, cannabis-infused drinks in Canada.
Green Gold Rush
You can also invest in the cannabis industry through ancillary companies, which help the industry run smoothly by improving production or participating in the supply chain. Think of it this way: During the California Gold Rush, there were companies that sold the picks and shovels to miners. Ancillary cannabis companies are part of the “green” rush.
Fertilizer
One of the biggest companies on that front isScotts Miracle-Gro Co(NYSE:SMG), best known for fertilizer and lawn care products. The company provides supplies needed to grow cannabis, from soil and fertilizer to growing systems and lights and everything in between. Growing cannabis indoors on a small scale can be notoriously costly in energy. A recent study by researcher Evan Mills estimated indoor cannabis growers use at least 1% of total U.S. power. As the legal industry leafs out, growers may be looking to professionalize by using greenhouses and becoming more energy efficient.
Growing: Greenhouses and Hydroponics
Another bigger company in the greenhouse sector isInnovative Industrial Properties Inc(NYSE:IIPR), which leases land to cannabis growers without the means to buy land or greenhouses. IIPR acquires, owns, and manages industrial properties, including facilities it leases to experienced, state-licensed operators who grow cannabis for medical use.
Hydroponic supply retailer GrowGeneration Corp. is another firm in the indoor farming space. Based in Pueblo, Colorado, it offers hydroponic equipment, power-efficient lighting, plant nutrients, and other products used by specialty growers.
Packaging and Distribution
A number of newer, smaller companies are also growing in this ancillary space.
As use increases, growers will need more efficient packaging and supplies to scale up. California-based KushCo Holdings makes packaging that complies with regulations for both medical and recreational cannabis.
Denver-based supply chain management firm Helix TCS helps its clients track cannabis sales. It also helps companies stay in compliance and offer asset protection, making them a “seed-to-sale” service provider.
Cannabis must be dry to be shipped, and Vancouver-based Enwave has a dehydration technology that’s used in food and pharmaceutical industries as well as for cannabis.
Finance and Administration
Because cannabis remains federally illegal, firms in the sector have encountered hurdles to using traditional banks. Auxly Cannabis Group offers investment, financial, and banking solutions for cannabis producers and retailers. While it also operates in other fields, the firm specializes in providing equity and debt investments to private and public cannabis firms.
MariMed takes the headache out of back-office work for cannabis companies with legal, accounting, human resources, and other corporate and administrative services.
Portfolio Considerations: Weeding Out the Candidates
These are heady times for the cannabis industry as legalization takes hold in more U.S. states. But as Boyd explained, investors still need to be cautious. Almost all of these companies are new and have short track records. And except for Scotts Miracle-Gro and Innovative Industrial Properties, the rest trade either over-the-counter or on the pink sheets.
These companies’ stocks also trade for less than $10 per share, something to consider, he noted. Many new cannabis companies have share prices in the penny-stock range.
“If I see something that is less than $10, it tells me there isn’t institutional investment in it, or prices would be higher. There’s also not a lot of analyst coverage on these companies yet,” Boyd said. “But if these get bigger, then more analysts will cover them, and the accuracy of the companies’ forecasts will become better, too.”
Information fromTDAis not intended to be investment advice or construed as a recommendation or endorsement of any particular investment or investment strategy, and is for illustrative purposes only. Be sure to understand all risks involved with each strategy, including commission costs, before attempting to place any trade.
Image Sourced from Pixabay
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© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Selloff Stalls at Historical Price Support Near $10K: View Bitcoins defense of the 100-day moving average and a bullish divergence of an hourly chart indicator suggest scope for a minor price bounce to $10,300 Bitcoin will remain in the hunt for a drop to $9,467 (Aug. 13 low), as long as the rising wedge breakdown seen on the 4-hour chart remains valid. A UTC close above $10,956 would shift risk in favor of a rally to $11,850-$12,000. A weekly close above $12,000 is needed to confirm bullish revival. Bitcoin (BTC) sellers are again struggling to force a sustained break below a widely-followed support level, but the outlook would turn bullish only above $10,956. The premier cryptocurrency by market value fell by $600 in the Asian trading hours on Wednesday, confirming a rising wedge breakdown on the intraday charts. The bearish reversal pattern opened the doors for a retest of the Aug. 15 low of $9,467, as discussed yesterday. So far, however, that target has remained elusive and the dips below the 100-day moving average (MA), currently at $9,900, have been short-lived. Related: Palestinian Civilians Are Using Bitcoin More Than Terrorists Its worth noting that the long-term MA worked as strong support earlier this month. The cryptocurrency ran into bids below the 100-day MA on Aug. 15 and closed (UTC) that day with gains above $10,300. The average was again defended on the following day and the subsequent price bounce ended up hitting highs above $10,950 on Aug. 20. So, if the 100-day MA continues to hold ground over the next few hours, chart-driven buying could lead to a price bounce. As of writing, BTC is changing hands at $9,970 on Bitstamp, representing a 1.7-percent loss on the day. Daily and hourly charts Related: Ethers Bull Run from December Lows Appears to Have Ended The lower wick attached to todays candle (above left) represents a failure on the part of the bears to keep the cryptocurrency below the 100-day MA. The average also proved a tough nut to crack on Wednesday. The repeated defense of the key MA, coupled with the bullish divergence (higher lows) of the hourly chart relative strength index (above right) indicates scope for a rise to $10,300 over the next few hours. Story continues The path of least resistance, however, will remain to the downside as long as prices are held below $10,956 the bearish lower high created on Aug. 20. The bulls will likely have a tough time forcing a break above $10,956, as the daily chart indicators are biased bearish. For instance, the RSI is holding below 50 and the moving average convergence divergence (MACD) histogram is printing negative values. Further, the 5- and 10-week moving averages have produced a bearish crossover, as discussed earlier this week. The fact that last weeks bounce from the 100-day MA ended up charting a bearish lower high indicates a weakening of bullish sentiment. 4-hour chart The case for a drop to the Aug. 15 low of $9,467 put forward by the rising wedge breakdown will remain valid as long as prices remain below $10,807 the high of the candle confirming the breakdown. Daily line chart The line chart of daily closing prices helps investors look through the noise created by daily highs and lows. If prices close above $10,000 today and end up rising above $10,927 (Aug. 16 close) in the next day or two, then a double-bottom bullish breakout would be confirmed. That would open the doors to $11,850. Weekly chart BTC has failed at least four times in the last eight weeks to close (Sunday, UTC) above $12,000. So, a weekly close above that level is needed to confirm a complete bullish revival. Disclosure: The author holds no cryptocurrency assets at the time of writing. Bitcoin image via Shutterstock; charts by Trading View Related Stories Bitcoin Risks Slide to $9.5K After Sudden $700 Price Drop Square Crypto Hires Matt Corallo to Boost Bitcoin Development || US Senator: Even If We Wanted To, We Couldn’t Ban Bitcoin: U.S. Senator Mike Crapo (R-Idaho) admitted that it would be difficult or impossible to ban bitcoin in the United States. The Senator offered a number of positive comments on bitcoin as he chaired the Senate Committee on Banking, Housing and Urban Affairs cryptocurrency hearing yesterday.
“If the United States were to decide, and I’m not saying it should, if the United States decided we didn’t want cryptocurrency to happen in the United States, and tried to ban it, I’m pretty confident we couldn’t succeed in doing that because this is a global tech, a global innovation.”
His comments echo Rep. Patrick McHenry who said earlier this month that “there’s no capacity to kill bitcoin.”
Members of Congress are increasingly warming up to bitcoin and beginning to comprehend its unstoppable force.
In hisopening statement, Senator Crapo framed bitcoin in a broadly positive light. He said technology leaps are inevitable and the US should take a lead in fostering innovation.
“It seems to me that digital technology innovations are inevitable, could be beneficial, and I believe that the U.S. should lead in developing these innovations and what the rules of the road should be.” || Bitcoin to hit $15,000 as consensus grows on safe haven status: The devaluation of Chinas currency, currently rattling global financial markets, shows that Bitcoin is now becoming a safe haven asset. Thats the view of Nigel Green, Chief Executive and Founder of deVere Group. The Chinese renminbi fell to under seven to the US dollar on Monday, the lowest in more than a decade, igniting drops in stocks and emerging market currencies and driving a rally in government bonds. Bitcoin jumped 10% as global stocks were rocked by the devaluation of Chinas yuan, the trade war with the US intensifying. This is not a coincidence. It reveals that consensus is growing that Bitcoin is becoming a flight-to-safety asset during times of market uncertainty. Bitcoin is currently realising its reputation as a form of digital gold, Green comments. Up to now, gold has been known as the ultimate safe haven asset, but Bitcoin, which shares its key characteristics of being a store of value and scarcity, could potentially dethrone gold in the future as the world becomes increasingly digitalised. With the Trump administration now officially labelling China a currency manipulator, Green believes that investors are set to continue to pile in to decentralised, non-sovereign, secure currencies such as Bitcoin to protect them from the turmoil taking place in traditional markets. The legitimate risks posed by the continuing trade dispute, Chinas currency devaluation and other geopolitical issues, such as Brexit and its far-reaching associated challenges, will lead an increasing number of institutional and retail investors to diversify their portfolios and hedge against those risks by investing in crypto assets, he says. This will drive the price of Bitcoin and other cryptocurrencies higher. Under the current circumstances, I believe the Bitcoin price could hit $15,000 within weeks, Green concludes. The post Bitcoin to hit $15,000 as consensus grows on safe haven status appeared first on Coin Rivet . || Litecoin gets added to Binance Singapore: Binance Singapore has addedlitecointo its platform—and trading is now live.
The price didn’t budge on the announcement—presumably due to the low volumes on the newly built exchange. In fact prices went down. Litecoin has continued on its downward path, as the cryptocurrency, like others, comes back down to earth after the recent bull market. Litecoin at its peak hit $140, but is now trending at somewhere around $87. Despite this, the announcement is part of something bigger.
If the exchange takes off, Litecoin could be bought and sold freely in the 36th largest economy in the world by GDP. That’s significant, not only for Singapore, but for Litecoin. Litecoin is the fourth-ranked cryptocurrency by market cap, and was created by Charlie Lee in 2011—who then famously sold all his holdings. It has traditionally been known as silver to Bitcoin’s gold and is designed to be used for smaller and faster payments–but if it keeps adding itself to more markets, silver could turn into platinum.
Binance Singapore is one of Binance’s fiat-to-crypto exchanges. Its purpose is to unlock the Southeast Asia market. With Litecoin, it has started with just one trading pair, the Singapore Dollar. This means that you can buy litecoin using the Singapore Dollar but not through bitcoin, or the other cryptocurrencies on the platform–which suggests trading volume, at least initially, will be low. More trading pairs are expected to be added soon, according to atweetby Binance Singapore, which should help to encourage trading of litecoin on the exchange.
Binance burns 800,000 BNB but with a twist
The exchange initiallykicked offin April, but was officially launched on July 10. The number of new users of the platform has grown 20 percent week on week—with the trading volume rapidly growing.
At the time, Binance CFO Wei Zhou, said, “From a fiat on-ramp perspective, it will be a very exciting launch in terms of allowing people in Singapore to access cryptocurrency from their traditional banking channels.”
Binance has just a handful of exchanges across the world that allow you to buy cryptocurrencies with fiat money, including ones in Jersey and Uganda. It has typically avoided handling fiat money for regulatory reasons. But, it continues to dip its toes in the water. According toBlockInPress, the exchange is trying to build another fiat-to-crypto but this time in Korea.
Few details are known but it’s expected to follow suit and only offer a small number of trading pairs. It is also in early stages and no formal decisions have been made.
[Random Sample of Social Media Buzz (last 60 days)]
@CSorsselsson If you expect this, it'll most likely do the complete opposite. Bitcoin works in mysterious ways 😁 || For those who don’t know what #Elliottwave Theory is and like to learn more about it, I like to give daily snippets of info on how to use it so that you can dyor. If you are interested in this give me a follow. #btc $btc #cryptotrading $crypto $Alts #bitcoin. Lesson nr 1: https://t.co/bbFJTQnHVF || [BTC Declines Below 9900 USDT And Now Marks 9970.16 USDT (-2.89%) On Binance]
For more alerts on re...
https://t.co/7nFX4DvUzc https://t.co/qd8OyhBLp8 || Bitcoin: Clientes pressionam Unick Forex sobre falta de pagamentos em evento da empresa
Publicado por: Portal do Bitcoin
https://t.co/4kkv5133Kq https://t.co/WvHQuUBpy4 || $EPAZ's Bitcoin Sharing & Blockchain Social Media App Webbeeo Is In Alpha Testing Phase https://www.owltmarket || #COM #rokes #exchange #IEO
https://t.co/aMbjxGHEDN || El mejor sistema para poner a trabajar tu BTC para ti 24/7 y recibir rendimientos semanales directo a tu cuenta de forma segura y transparente. Tu sumas ingresos, Arbistar hace el trabajo. Solicita info:… https://t.co/2sogI1GFA5 || $EPAZ's Bitcoin Sharing & Blockchain Social Media App Webbeeo Is In Alpha Testing Phase https://www.owltmarket || Qu'est-ce que le DeFi? – Journal du marché Bitcoin #blockchain #BlockBlog #technologie #tech #startup #entrepreneur #economie #finance https://t.co/TwZfJL67K1 || I knew this premise would be trash just from the pic.
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Trend: down || Prices: 10360.55, 10358.05, 10347.71, 10276.79, 10241.27, 10198.25, 10266.42, 10181.64, 10019.72, 10070.39
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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 2022-09-13]
BTC Price: 20296.71, BTC RSI: 45.66
Gold Price: 1705.00, Gold RSI: 40.40
Oil Price: 87.31, Oil RSI: 44.67
[Random Sample of News (last 60 days)]
Coinbase would shut down ETH staking under regulatory threat, says CEO: Responding to a hypothetical scenario on Twitter, Coinbase CEO Brian Armstrong said that the company would shut down its Ethereum staking services to preserve the blockchain network’s integrity, in the event of a regulatory crackdown.
See related article:BlackRock, Coinbase partner to extend crypto trading to institutional investors
• The hypothetical question wasposted on Sunday by Lefteris Karapetsas, founder of Rotki, an open-source crypto analytics, and accounting app, tagging major companies like Coinbase, Kraken, Lido Finance, Staked, and Bitcoin Suisse.
• Karapetsas asked the companies how they would respond if regulators would ask them to censor at the Ethereum protocol level with their validators, offering two possibilities: “A) Comply and censor at protocol level” or “B) Shut down the staking service and preserve network integrity.”
• Armstrong respondedon Thursday, writing: “It’s a hypothetical we hopefully won’t actually face. But if we did we’d go with B I think. Got to focus on the bigger picture.”
• The Coinbase CEO further added that a third and better option may also present itself: “There may be some better option (C) or a legal challenge as well that could help reach a better outcome.”
• Coinbase Prime started offering ETH staking to US-based institutional clientsat the beginning of August. In itslatest shareholder letter, Coinbase wrote: “In early August, we began offering Ethereum staking for institutional clients for the first time. We’ll continue to add more assets for staking for both our retail and institutional clients going forward.”
See related article:Coinbase under investigation by SEC, quarterly report reveals || It's great to invest, but invest smartly: Jimmy O. Yang explains why he turned down crypto promotion offers: Although he finds the crypto space exciting, Jimmy O. Yang revealed that he has turned down multiple paid cryptocurrency promotion offers in the past, fearing that his endorsements might influence his fans to pursue unsafe investments. Speaking to Vices Motherboard , the 35-year-old comedian and actor admitted he and his partner, venture capitalist Brianne Kimmel, have always been careful about getting into endorsement deals, particularly when it involves cryptocurrencies . Especially with something like crypto, it's important to [ask] Is it going to hurt the financial well-being of my fans and people who follow me? Yang told Motherboard. For me as an actor, looking at endorsement deals, it's like, Is it gonna make me look like an asshole? While they themselves have invested in crypto, Yang and Kimmel revealed that they have turned down nearly a dozen lucrative endorsement deals, including one from an unverified trading platform that focuses on altcoins alternative digital currencies that are not Bitcoin. More from NextShark: Twice accidentally becomes senators after live US debut on The Late Show With Stephen Colbert These are very hardworking American people who don't earn a high income and who are less versed in technology, Kimmel, the founder of Worklife Ventures, was quoted as saying. To promote a cryptocurrency where they could lose everything is really not a position either of us want to be in. While talking about the offer, Kimmel said there were a few red flags about the altcoin trading platform, specifically its unknown owner and its startup. There were enough red flags that even really decent compensation wouldn't warrant the personal financial risk and also risking the financial health and well-being of people that follow him, Kimmel said, to which Yang agreed. More from NextShark: Back again like a boomerAANG: New Avatar: The Last Airbender film revealed to be about Aang and friends Theres already a risk with crypto. But then with the newer companies, who knows what's going to happen? Yang added. Story continues Kimmel shared some of the experiences of their artist and comedian friends who turned to crypto amid the COVID-19 pandemic to make up for lost income as many industries started closing their doors amid the lockdowns. Risking their savings after hearing through the grapevine that the crypto market would blow up, Kimmel shared that some of their friends had lost 50 or 60 percent of what they have through an unknown currency. More from NextShark: Ed Sheeran Spoils New BTS Song Title He Wrote, Fans Meme Big Hit Entertainment's Reactions One of Yangs close friends found success in trading meme stocks during the pandemic, but lost their profits after reinvesting in altcoins, which have since taken a nosedive since their peak in 2021. Now it's all gone, and I'm talking about somebody that has a kid, Yang said. Several cryptocurrency platforms have begun investing heavily in marketing in recent years, striking endorsement deals with celebrities and athletes such as Tom Brady , Stephen Curry and Shohei Ohtani . More from NextShark: Awkwafina nomination for NAACP Image Award sparks renewed backlash Yang admitted that he could see why celebrities and athletes are taking up the offers, explaining that they tend to give two or three times higher deals than what traditional brands usually pay. He added that celebrities should seriously consider the risks of promoting cryptocurrencies to their fans before becoming the public face of a trading platform. Nike, say I promote it. My fans like it. They go out and buy a pair of shoes, Yang explained. Crypto, you can throw your whole life savings in there. It's not just a check, he said. It's your career out there, too. We did see friends and family and people lose a lot of money off the back of celebrities that were talking about maybe unsafe investments, Kimmel added. Although Yang has been paid before by crypto companies to perform stand-up comedy, the comedian said he hopes that more people will do their research before investing. Do your due diligence, Yang said. It's great to invest, but invest smartly. Featured Image via Jimmy O Yang || OhHash launches innovation zone IMO Launchpad, revolutionizing the traditional hashrate market: Paris, France, Sept. 06, 2022 (GLOBE NEWSWIRE) -- On August 24 th , OHhash announced its innovation zone IMO (Initial Mining Offering) Launchpad is officially online, and users can Discover & Purchase high hashrate "First-Batch Mining" digital assets With One Click. This is the first IMO Launchpad for hashrate projects in the world, which resembles a similar model to IDO or IEO on Binance. OHhash is the world's leading platform for crypto-currency mining with "First-Batch Mining" as the core initiative. It supports all regulation algorithms such as POW, POC and POS, and can seamlessly launch Mining Marketplace on your platform through APIs; additionally, "First-Batch Mining” brings early mining dividends to ordinary investors, which is expected to revolutionize traditional mining products. With the ongoing development of the blockchain industry, mining has become the first choice of investment for many users. Due to the high cost of mining machines, technical difficulties, and a limited amount of hashrate, individual investors often choose to mine on the OhHash platform. The OhHash platform came into being and is supported by many strategic cooperations such as Hpool, Digcoin, Sirius Lab, ZKwork, just to name a few. Compared with traditional hashrate platforms, OhHash has three major innovations. First, IMO Launchpad is created for early, high-quality Mining projects in the blockchain industry. Secondly, other platforms can create their own hashrate market through APIs such as exchanges. Thirdly, computing power has been NFTized to accelerate the circulation and processing of hashrate transactions. At present, IMO Zone has launched Aleo hashrate with Ohhash.com. Aleo is the first platform to offer fully private applications and raised a total of $228 million from several leading investment institutions including A16Z, Coinbase, Tiger, and Softbank Serving as the biggest Investment in Zero-knowledge Industry. IMO will greatly reduce the investment threshold for users in crypto mining and rely on the wealth-making effect similar to IDO to continue to attract users. In addition, the platform will continue to select projects with high investment value, and appealing potential as well as a strong, ongoing future development for users. The OhHash Marketplace now offers direct purchase of traditional hashrate such as BTC, ETH, File and Chia on the platform and earnings can be directly checked in your wallet the following day. The Global Operations Officer of OhHash James stated "IMO will be a catalyst for the continuous growth of cloud computing power. Our mission is to allow more users to participate in blockchain investment easily. In addition to Aleo, we will list high-quality products such as Ironfish, and Spacemesh on IMO Launchpad." Story continues Website: www.ohhash.com Business Contact Jackie Email: official at ohhash.com The views, suggestions, and opinions expressed here are the sole responsibility of the experts. Do your own research before making a financial decision related to any crypto company or asset. View comments || Silvergate CEO Sees More Near-Term Pain for Crypto but Still Bullish on Bitcoin Lending: The bear market that’s hitting all corners of the digital assets industry isn't over yet and could see some more pain over the next few quarters, according to crypto-focused bank Silvergate Capital (SI).
The crypto sector may still experience a few areas of pain for some exchanges and crypto funds over the next few quarters, “but at some point all of that will be done, and then we'll just be waiting for what's the next catalyst,” CEO and former TradFi banker Alan Lane told CoinDesk in an interview.
However, investors shouldn’t compare the current crypto price slide to previous ones given the broader global economic reset as digital assets have fallen with macro trends including rising rates and inflationary pressures, Lane said.
Shares of Silvergate are down 42% this year, though they’ve jumped 33% over the last week. The VanEck Digital Transformation Exchange-Traded Fund (DAPP), which holds a basket of various crypto stocks including exchange Coinbase (COIN) and miner Marathon Digital (MARA), has fallen 67% this year, but risen 15% over the last week. Rising rates and recession fears have hurt global equity markets, especially stocks deemed to be riskier. The tech-heavy Nasdaq Composite Index has retreated about 25% year to date.
Given the crypto downturn,analysts anticipatea weak quarter for various crypto companies from exchanges to miners, but Silvergate’ssecond-quarter earningsbucked the trend.
The Silvergate Exchange Network (SEN), a fiat on-ramp forbitcoin(BTC) markets, posted a 34% rise in U.S. dollar transfers during the second quarter compared to last year, while net income rose 85% year over year.
Lane said the way Silvergate avoided the pitfalls of the bear market is by sticking to what the bank knows best and by not chasing FOMO. “We really try to stay in our lane and not chase the latest fad, but really just focus on what we do well, and essentially just solving problems for our customers,” Lane said.
Investment bank Canaccord Genuity thinks risk management was a key contributor to Silvergate’s positive earnings results. “What perhaps was the biggest long-term positive for the story was a risk management program that resulted in no loan writedowns, despite significant crypto spot price volatility and some default contagion across the broader ecosystem,” Canaccord equity research analyst Joe Vafi said in a note to clients.
Vafi also expects Silvergate to double its earnings over the next few years given various growth drivers that the company is embarking on. He rates the stock with a buy and $200 price target; shares closed at $86.50 apiece on Friday.
Amid the recent collapses of several over-leveraged crypto-linked financial institutions, Lane remains positive on using bitcoin for its lending program.
“We're absolutely still interested in lending against bitcoin,” Lane said. “We believe that is some of the best lending we've ever done, and we want to continue to grow that.”
Most recently, Silvergate utilized its SEN Leverage program in a$205 million term loan to Michael Saylor’s MicroStrategy(MSTR) so the business intelligence firm could purchase more bitcoin.
Lane said the lending platform was built with the acknowledgement it would come with volatility, and says the recent crypto rout was a good stress test for Silvergate to show it can withstand volatility in its lending business model.
Certain lenders that have had problems included those offering clients unsecured or under-collateralized loans, while Silvergate requires over-collateralization, according to Lane. If market headwinds persist, a borrower can pay down its loan, pledge more bitcoin or Silvergate can make the decision to liquidate some bitcoin on one’s behalf if necessary.
In January, Silvergatebought the technology and other assets from Diem, the stablecoin project from Meta Platforms (formerly Facebook) first announced as Libra back in June 2019.
“While details remain few, the assets acquired from Diem do indeed provide a solid platform for a stablecoin for e-commerce, and we cannot but believe that demand both from payments platforms and merchants could be strong over time,” Canaccord’s Vafi added in his note to clients.
Silvergate said on its earnings conference call that its stablecoin launch remains on track for this year.
Read more:Silvergate's Acquisition of Diem's Assets Positive for Stablecoin Launch, Analysts Say || MicroStrategy shares fall after Jefferies downgrade to ‘underperform’: Investment banking firm Jefferies downgraded the MicroStrategy stocks from “hold” to “underperform.” See related article: Michael Saylor’s MicroStrategy buys more Bitcoin Fast facts MicroStrategy, the largest corporate holder of Bitcoin, has a premium valuation for a low-growth asset, Jefferies said in a research report released on Tuesday. Jefferies kept the MicroStrategy price target unchanged at US$180, while the stocks fell by over 10% on Tuesday to US$237.64. With 129,200 Bitcoins, 52% of MicroStrategy’s enterprise value of US$2.8 billion is comprised of Bitcoin, according to the investment banking firm. This indicates an unrealized loss of over US$1 billion on a US$3.97 billion investment, Jefferies said. Jefferies said that MicroStrategy’s stock trades at a premium compared to other companies and the downgrade is due to the slowdown in billings growth and the business intelligence arm of MicroStrategy. Jefferies expects MicroStrategy’s revenue to grow by 4% in the next quarter. See related article: MicroStrategy posts Q1 revenue loss amid falling Bitcoin price || First Mover Americas: Bitcoin Drops Below $20K, Michael Saylor Sued for Tax Fraud: • Price Point:Bitcoin has dropped below a critical psychological level of $20,000 as MicroStrategy's Michael Saylor gets sued by the District of Columbia for tax fraud.
• Market Moves:The potential Ethereum hard fork token ETHPOW could trade at 1.5% of ether's price, futures suggest.
• Chart of the Day:Bitcoin exchange inflows rise.
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) fell below $20,000 on Thursday as investors face a tough start to the month after a rocky August. The world’s largest cryptocurrency by market value has lost 2% on the day, following a 14% decline last month.
Stocks and bondsalsofell, along with European and Asian indexes.Oil pricesdropped for a third day in a row.
Ether(ETH), the second-largest cryptocurrency by market capitalization, lost 1.6% over the last 24 hours to $1,560. Litecoin (LTC),EOSand unus sed leo (LEO) posted small gains.
Bank of AmericasaidWednesday in a research podcast that the chance of a more hawkish Federal Reserve and the likelihood of interest rates staying higher for longer haven't been fully priced into risky assets, including cryptocurrencies.
In the news,the District of Columbia issuing MicroStrategyfounder Michael Saylor for tax fraud.The attorney general’s office is also suing the business software company for allegedly helping him evade taxes on his earnings in the district. MicroStrategy's shares were down more than 4% following the news.
Crypto lender Celsius Networkis facing another group of customers who want their money back, Nikhilesh Dereports.
Developers behind the Helium network haveproposedshifting the entirety of the protocol to the Solana blockchain, citing faster transaction speeds, high uptimes and more interoperability with other blockchains.
And finally, inLatin America, CoinDesk’s Marina Lammertynunpackshow the political turmoil in Peru has led citizens to turn to crypto as a safe haven.
[{"Asset": "Terra", "Ticker": "LUNA", "Returns": "+20.4%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Cosmos", "Ticker": "ATOM", "Returns": "+0.4%", "DACS Sector": "Smart Contract Platform"}]
[{"Asset": "Solana", "Ticker": "SOL", "Returns": "\u22124.9%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Avalanche", "Ticker": "AVAX", "Returns": "\u22124.5%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Loopring", "Ticker": "LRC", "Returns": "\u22124.0%", "DACS Sector": "Smart Contract Platform"}]
Potential Ethereum Hard Fork Token ETHPOW May Trade at 1.5% of Ether Price, Futures Suggest
By Omkar Godbole
If you have been following the crypto market for some time, you probably have heard that Ethereum, the world's largest smart-contract blockchain, couldundergo a hard forklater this month, splitting into aproof-of-stake(PoS) chain and aproof-of-work(PoW) chain.
The Ethereum chain with the PoS consensus mechanism will retain the seven-year-old ether (ETH), which was recently trading at $1,570, as its native token. The PoW chain, representing a group of miners opposing the impendingMerge, or switch to PoS, would have a new token called ETHPOW.
If the chain splits, ETH holders will receive ETHPOW free of cost. What's not known is the value of the ETHPOW token.
One way to gauge the potential value is to look at the difference between spot ether and futures prices, according to Paradigm, which focuses on over-the-counter trading for institutions.
As of Wednesday, ether Sept. 30 expiry contracts listed on major exchanges traded at a discount of $18 to the spot price, indicating the market is expecting the ETHPOW token to draw a price of at least $18 at inception.
"We can infer how much the market estimates ETHPOW will be worth from simply looking at spot-future basis, since spot = PoS + PoW, while future is just PoS," Paradigm said in a Merge-focused blog postpublishedWednesday. "Currently, the basis is implying ETHPOW to be priced ~$18, which is ~1.5% of ETH market cap."
Trading giant Cumberlandvoiceda similar opinion last month, saying, "we can infer how much the market estimates ETHPOW will be worth from the spot-future basis."
The logic behind considering the negative $18 basis as a possible ETHPOW price is that the discount represents the risk-free cost of collecting the potential forked tokens. So, if traders are willing to pay $18, they must expect the token to be priced at $18 or higher.
Read the full storyhere.
Bitcoin Exchange Inflows Rise
By Omkar Godbole
• Centralized exchanges received more than 13,000 BTC on Wednesday, the highest daily net inflow since July 17.
• Investors usually deposit coins on exchanges when intending to liquidate their holdings.
• Large inflows, therefore, are taken to represent an increase in coins available for selling.
• Crypto.com Pulls Plug on $495M Champions League Sponsorship Deal, SportsBusiness Reports:Regulatory concerns in Europe promptedCrypto.comto scrap the deal.
• Digital Dollar Project Plans to Explore CBDC Technical Solutions With New Sandbox:The nonprofit organization advocating for a U.S. central bank digital currency plans to work with crypto platforms like Digital Asset and Ripple to explore technical and policy aspects of a digital dollar. || US stocks rise as investors assess signs inflation is coming down: • US stocks extended its August rally on Friday as investors digested more signs that inflation is coming down.
• Prices of imported goods fell 1.4% in July, representing the largest decline since April 2020.
• Cooling inflation would give the Fed more flexibility in its interest rate hike trajectory.
US stocks jumped on Friday, with the S&P 500 extending its month-to-date gain to about 2% as investors assessed signs that inflation is cooling off.
Import prices fell 1.4% in July, exceeding economist estimates for a decline of just 1%. The decline in July import prices represents the biggest drop since April 2020. Meanwhile, export prices fell 3.3% in July.
The decline in prices has been in-part driven by the ongoing decline in oil prices and other commodities. A cool-off in inflation is seen as risk-on for the stock market because it would give the Federal Reserve more flexibility in slowing down its interest rate hike trajectory.
Here's where US indexes stood shortly after the 9:30 a.m. ET open on Friday:
• S&P 500:4,226.69, up 0.46%
• Dow Jones Industrial Average:33,485.80, up 0.45% (149.13 points)
• Nasdaq Composite:12,841.64, up 0.48%
One commodity price that continues to rise is European natural gas, which is on track for its fourth consecutive weekly gain as Russia's war with Ukraine continues to spark an energy crisis that could get worse heading into the winter months. Dutch TTF natural gas futuresare up over 600% from a year earlier,according to ICE Exchange data.
In an attempt to limit the crisis from soaring natural gas prices, Europeis setting up floating liquefied natural gas terminalsto better handle and process LNG imports.
Home prices have yet to see broad declines even as the housing market cools off due to higher mortgage rates. In fact, the median price for a single family homerose above $400,000 for the first time everin the second quarter, according to the National Association of Realtors.
West Texas Intermediate crudeoil fell 1.83% to $92.61 per barrel.Brent crude, oil's international benchmark, dropped 1.54% to $98.20. Bitcoin fell 0.85% to $23,834. Ether prices fell 1.41% to $1,879.
Goldrose 0.19% to $1,810.60 per ounce. The yield on the 10-year Treasury fell four basis points to 2.84%.
Read the original article onBusiness Insider || Bitcoin Well Reports Second Quarter 2022 Results: EDMONTON, Alberta, Aug. 11, 2022 (GLOBE NEWSWIRE) --Bitcoin Well Inc.(the “Company” or “Bitcoin Well”) (TSXV: BTCW), today announced the financial and operating results for the second quarter ended June 30, 2022. The Interim Financial Statements as well as Management’s Discussion and Analysis (“MD&A”) are available on our website and have been filed on SEDAR.
Revenues and Gross Profit from our ATMs across Canada and over the counter (“OTC”) in-person offices have remained strong over the last four quarters amidst a volatile market sentiment for cryptocurrencies. Revenue in the second quarter of 2022 increased by 52% and Gross Profit increased by 10% when compared to the first quarter of 2022 mainly due to the diversity of revenue streams we have been focused on growing for the past two years. Going forward in 2022, we are anticipating conservative monthly growth in our in-person services and have significantly reduced expenses to a manageable level within those conservative forecasts to improve our Adjusted EBITDA.
“Our business has been navigating the crypto market downturn effectively. Albeit modest, we were focused on increasing our gross profit and were successful in doing that in the second quarter despite the overall crypto market decreasing from all time highs,” said Adam O’Brien, Founder & CEO of Bitcoin Well. “We are continuing to focus on increasing our gross profit in the third quarter and are excited to show the markets what we can do. I have successfully led this organization through multiple ‘crypto winters’ and will employ similar cash preservation and building strategies through this one as I have in the past.”
Financial Overview
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1 See Non-IFRS Measures.
Second Quarter 2022 Results
• Revenue in the second quarter and first six months of 2022 were $21.1 million and $35.1 million lower compared to the same periods last year. Revenues in the second quarter of 2021 included in-person transactions of $22 million with one customer, which was not expected to recur. Excluding this non-recurring transaction, revenues in the second quarter of 2022 increased by 4% compared to the same period last year.
• Gross profit in the second quarter of 2022 was similar to the same period last year even though revenues were significantly lower. Gross profit margins in the second quarter of 2022 remained strong at 7% compared to 8% in the same period last year.
• Adjusted EBITDA in the second quarter and first six months of 2022 were $1 million and $3.3 million lower compared to the same periods last year. In the first six months of 2022, the Company has streamlined operations, and implemented cost cutting decisions, including a reduction in the number of employees. These actions are expected to significantly lower salary & wages and general & administrative expenses going forward, resulting in an improved Adjusted EBITDA.
• Net loss in the second quarter of 2022 of $1.1 million included $3.3 million of restructuring costs that were not in the normal course of business. These costs mainly relate to staff reductions and associated severance costs, office facilities, as well as costs associated with a pause in the ghostATM B2B product development. The Company has streamlined operations, and implemented cost cutting decisions, including a reduction in the number of employees. These actions are expected to significantly lower salary & wages and general & administrative expenses going forward.
Recent Business Developments
• Continued to expand our online ecosystem in the second quarter of 2022. We added e-transfer as a second payment rail to our online offerings, allowing our users to buy bitcoin in the fastest and safest way possible. Currently, Bitcoin Well users can buy bitcoin online with VISA debit or Interac e-Transfer. This online ecosystem:Allows users to sell bitcoin and receive CAD directly into their bank,Enables payment of any Canadian bill or Credit Card in bitcoin and other cryptocurrencies,Emphasizes a user-custodied journey which eliminates the risks associated with other competing online custodial offerings, andAre available in WellWallet™, our user-custodied Bitcoin Wallet App, and online atwww.bitcoinwell.com.
• Added 9 Bitcoin ATMs to our operating fleet in the second quarter of 2022. We now have 248 ATMs operating across Canada. This includes 75 ATMs under our Partner Program, which allows us to scale our ATM count quicker and add incremental revenue potential with minimal capital expenditure. We expect continued gross profit contributions from the Partner Program with ongoing growth, including our previously announced expansion with Rapid Cash ATM Ltd. into over 100 additional locations in 2022, less than 30 of which have been completed to date.
Issued the third tranche in the amount of $1.5 million of a secured convertible debenture agreement for up to $5 million. The $1.5 million was received on July 4, 2022. In the first quarter of 2022, the first and second tranches for a total of $3.5 million were issued. The convertible debenture bears interest at a rate of 10% per annum and matures on February 23, 2025, subject to two automatic one year extensions. At the option of the holder, the principal amount of the convertible debenture is convertible into common shares of Bitcoin Well (the “Common Shares”) at a conversion price of $0.30 per Common Share, subject to adjustments in certain circumstances. Bitcoin Well has the right to force conversion of the principal amount if the volume weighted average trading price for the Common Shares for ten (10) trading days equals or exceeds $0.60 per Common Share.
Non-IFRS MeasuresThe Company uses certain terms in this news release and within the MD&A, such as ‘Adjusted EBITDA’, which do not have a standardized or prescribed meaning under International Financial Reporting Standards (IFRS), and accordingly, these measurements may not be comparable with the calculation of similar measurements used by other companies. See the table below for a reconciliation of each non-IFRS measure to its nearest IFRS measure or refer to the “Non-GAAP Measures” and “Selected Financial Information” sections in the MD&A for applicable definitions, calculations, rationale for use and reconciliations to the most directly comparable measure under IFRS. Non-IFRS measures are provided as supplementary information by which readers may wish to consider the Company’s performance but should not be relied upon for comparative or investment purposes.
Reconciliation of Adjusted EBITDA to Net Income (Loss)
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This news release should be read in concert with the full disclosure documents. The Bitcoin Well Unaudited Condensed Consolidated Interim Financial Statements and Management’s Discussion and Analysis for the three months ended June 30, 2022 will be available on the Bitcoin Well website (www.bitcoinwell.com), via SEDAR (www.sedar.com) or can be requested from the Company.
About Bitcoin WellBitcoin Well offers convenient, secure and reliable ways to buy, sell and use bitcoin. Bitcoin Well is on a mission to enable independence by offering an ecosystem of products and services that give users the convenient control of their bitcoin. This ecosystem will future-proof money by including self custodial financial offerings (both in-person and online) and educational resources designed with the needs of both the customers, and the industry, in mind.
Sign up for ournewsletterand follow us onLinkedIn,Twitter,YouTube,Facebook, andInstagramto keep up to date with our business. For OTC location information visitbitcoinwell.com/locations.
Bitcoin Well Contact InformationTo book a virtual meeting with Founder & CEO Adam O’Brien please use the following link:https://calendly.com/adamobitcoin/meet-adam
For additional investor & media information, please contact:Tel: 1 888 711 [email protected]
Neither 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 release.
Forward-Looking Information:Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, or the negative thereof and similar expressions.Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information.
Bitcoin Well actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which Bitcoin Well operates, prevailing economic conditions, and other factors, many of which are beyond the control of Bitcoin Well.
Bitcoin Well believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon.
Any forward-looking information contained in this news release represents Bitcoin Well expectations as of the date hereof, and is subject to change after such date. Bitcoin Well disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
For more information, see the Cautionary Note Regarding Forward Looking Information found in the Bitcoin Well quarterly Management Discussion and Analysis. || Convex Finance Reclaims Major Support As Bitcoin Crosses $24K.: • Convex Finance is inching closer to closing above the $10 mark.
• Bitcoin declined slightly to trade at $23k at press time.
• The crypto market also depreciated in market cap sitting at $1.03 trillion.
Although thecryptomarket successfully rose above the month-long bearishness, which kept altcoins and the king coin at their lowest, the market cap finally reclaimed the $1 trillion level as support.
However, today did not support a rise further as most cryptocurrencies remained unchanged.
The altcoin is one of the best-performing cryptocurrencies in the market at the moment, asCVXhas risen by more than 112% in the span of just a month.
However, even this rally has not been enough to pull the altcoin out of its 91.62% losses that it witnessed between April to June.
Interestingly trading at $7.54, CVX was able to reclaim the 50-day Simple Moving Average (SMA) (red) line as support which is crucial in the altcoin’s efforts to mark a recovery.
With this, the coin not only came closer to reclaiming the $10 mark but also to flipping the 100-day SMA (green) line into support from resistance.
This is supported by the MACD as well, which is maintaining its bullish crossover despite the fluctuations in the market. Although bullishness isn’t rising at the moment, its current stance does indicate that the altcoin has enough strength to remain consolidated.
Trading at $23,873, the king coin fell slightly below yesterday’s high of $24k, but the same is just a small break and not a sign of downfall.
The 23.65% rallyBitcoinachieved in the last eight days will continue going ahead and eventually recover the almost 40% losses noted during the June crash.
The same is visible on the price indicators as well. The Parabolic SAR’s white dots are currently sitting beneath the candlesticks, which means that the king coin is still in an active uptrend.
Secondly, the Relative Strength Index (RSI), which entered the bullish zone after three months, is maintaining its position in the area.
This will provide BTC the strength it needs to rise back up and rally further, and if it can sustain the same for a long while, BTC can achieve $30k by the end of this month.
Thisarticlewas originally posted on FX Empire
• GM, Ford seek U.S. OK to deploy self-driving vehicles without steering wheels
• CIA director estimates 15,000 Russians killed in Ukraine war
• Europe braces as Nord Stream Russian gas link set to restart
• Russian firefighters use helicopter to douse Moscow building blaze
• Tesla profit tops target; Musk sees no demand problem
• Oil prices edge lower as demand concerns outweigh tight supply || First Mover Asia: Bitcoin Soars Past $24K on Favorable CPI; Governments Focus Too Much on Crypto’s Economic Importance, Australia Academics Argue: Good morning. Here’s what’s happening:
Prices:Bitcoin and other cryptos rise on favorable inflation news.
Insights:Professors from The University of Sydney say governments need to look beyond cryptocurrency's economic importance.
●Bitcoin (BTC): $23,843+2.8%
●Ether (ETH): $1,850+8.5%
●S&P 500 daily close: 4,210.24+2.1%
●Gold: $1,807 per troy ounce+0.7%
●Ten-year Treasury yield daily close: 2.79%−0.01
Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found atcoindesk.com/indices.
Crypto Investors Like the Latest CPI Report and Send BTC Higher
By James Rubin
The July Consumer Price Index (CPI) report in the U.S. was sweet music for crypto investors.
They sent the price of bitcoin higher minutes after the U.S. Commerce Department published the July inflation reading, which showed prices declining at a slightly lower rate than most analysts expected.
Bitcoin was recently trading at roughly $23,850, up nearly 3% over the past 24 hours. The largest cryptocurrency by market capitalization had breezed past the $24,000 threshold earlier in the day and remained in the upper end of the range it has occupied for the better part of two weeks. Markets were feeling more hopeful the U.S. Federal Reserve was succeeding in its attempt to tame inflation without casting the economy into recession, and could boost interest rates at a more moderate rate at its next meeting in September.
Ether cracked the $1,800 mark for the second time in three days, increasing more than 8% over the previous day. The second-largest crypto by market cap has been gaining momentum even without the CPI news. The Ethereum blockchain is nearing the eagerly expected Merge, which will shift the protocol from proof-of-work to a less energy-sapping proof-of-stake model. Most other major cryptos also were basking in sunshine, with AAVE rising almost 14% and FTM and STORJ up more than 12% at one point.
“Crypto has not sat idly by and has pushed higher on the news, albeit not to radically higher levels than in past days," Simon Peters, crypto market analyst at social investing network eToro, wrote in an email. "Given crypto asset markets’ recent tight correlation with U.S. equities, this should come as no surprise. At the bottom of this is a change in the makeup of the market.
The CPI dip resulted largely from improvements in long-beleaguered supply chains and declining fuel prices. U.S. gas prices have dropped under $4 per gallon, about a dollar under where they stood in early June. A barrel of Brent crude oil, a widely watched measure of energy markets, has spent much of the month hovering in the mid $90 range, down from a high over $120 in late spring.
Stocks climb
Major equity indexes, which cryptos have largely tracked throughout the year, savored the CPI news with the tech-heavy Nasdaq and S&P 500 climbing nearly 3% and 2.1%, respectively. Investors are now encouraged that the Federal Reserve will hike interest rates 50 basis points instead of a more aggressive 75 points that seemed the likelier option only a few days ago. Target rate probabilities even prior to the CPI had shifted 68% chance of a 75 basis point increase to 38%, as CoinDesk's Glenn Williams Jr.reported.
Meanwhile, the crypto industry slogged through a mix of good and bad news with Coinbase (COIN) part of both. Late Tuesday, following the crypto exchange giant's release of disappointing second-quarter results, Bank of America (BAC)maintainedits buy recommendation, saying Coinbase was well positioned to successfully navigate the crypto winter and take market share.
JPMorgan Chase also noted some positive signs for the company even during a challenging quarter. But in its quarterly report, Coinbasedisclosedthat it is under investigation by U.S. securities regulators over its token listing processes as well as its staking programs and yield-generating products.
In comments to CoinDesk, Howard Greenberg, cryptocurrency educator at Prosper Trading Academy, was optimistic about future price increases. “I think the market will continue to find confidence in the Fed staying on track with its proposed increases to the interest rates at the September meeting and we will continue to see our relief rally pick up steam in the crypto market,” Howard Greenberg, cryptocurrency educator at Prosper Trading Academy, told CoinDesk.
[{"Asset": "Ethereum", "Ticker": "ETH", "Returns": "+8.5%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Polkadot", "Ticker": "DOT", "Returns": "+6.6%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Avalanche", "Ticker": "AVAX", "Returns": "+5.6%", "DACS Sector": "Smart Contract Platform"}]
There are no losers in CoinDesk 20 today.
Governments Focus on Crypto Is Too Narrow
By Shaurya Malwa
Business and computer science professors from The University of Sydney, one of Australia’s leading academic institutions, say governments are taking a one-sided approach in regulating cryptocurrencies, failing to capture its nuances beyond digital payments.
On Tuesday, the country’s central bank, the Reserve Bank of Australia (RBA), announcedthat it would developa “limited scale” pilot to explore use cases and potential economic benefits of a central bank digital currency (CBDC). The project will take about a year to complete. Meanwhile, over the past 24 hours, Australia crypto exchanges generated just over$14 million in trading volume.
Academics, however, say well-intentioned government projects miss a key part of the ethos of cryptocurrencies.
“There is an isolated focus on crypto’s financial and economic aspects, while the cultural, social and political ramifications are ignored,” says Daniel Schlagwein, associate professor at The University of Sydney Business School. “There is still a fundamental misunderstanding or at least a rigid, one-sided view on cryptocurrencies – their nature is not fully understood. Old and outdated theories are used on a new phenomenon.”
“For example, I would like the government to specify how citizens of Australia retain their current option to pay anonymously via cash,” Schlagwein told CoinDesk. “Once cash isde factoorde jurefaded out, are all our payments then digitally traced and trackable? This would be horrific from a surveillance perspective.”
Unintended consequences
Schlagwein added that while traceability of all movements and payments of Australian citizens is desirable from an anti-money laundering and law enforcement perspective, it would be “easy to go wrong once such systems are in place.”
“There may be unintended, long-term consequences of designing our societal systems in a one-sided manner and short-term orientation,” he argued.
Other professors say small-scale trials in a real-world setting are necessary before such a system becomes operational.
“The government could also look to encourage small-scale application trials to see whether a new ecosystem can be stimulated and assess its feasibility, said Qiang Tang, a cryptocurrency and blockchain expert at the University of Sydney’s School of Computer Science.
Tang told CoinDesk that CBDCs could have multiple benefits, such as creating a more efficient monetary and payment system and enabling more fin-tech innovations that “play a fundamental role in Australia’s national digital economy strategy.”
The RBA announced its intention to study a potential CBDC with the development of a proof-of-concept (PoC) in early 2020 for the issuance of a tokenized digital dollar for the wholesale market.
The bank considers Australia to have relatively modern and well-functioning payment and settlement systems, and a CBDC is the natural step forward for the evolution of money in the country.
Korea Blockchain Week
9 a.m. HKT/SGT(1 a.m. UTC): Australia inflation expectations (August)
In case you missed it, here is the most recent episode of"First Mover"onCoinDesk TV:
Bitcoin Jumps as Inflation Cools More Than Expected; Coinbase Q2 Earnings and Outlook
Crypto prices ticked up following Wednesday's inflation report. Consumer prices rose 8.5% year over year in July, less than expected. Joseph Ayoub, Citi Global Infrastructure analyst, joined "First Mover" to discuss the bank's research on Ethereum. Plus, Michael Safai of Dexterity Capital shared his thoughts on Coinbase's second-quarter earnings, losses and the outlook for the crypto exchange.
US Inflation Slowed to 8.5% in July, CPI Report Shows; Bitcoin Jumps:Crypto markets responded favorably after the slower-than-expected reading, which takes pressure off the Federal Reserve to hike rates aggressively at the September meeting.
At ETHSeoul, Ethereum Developers Turn Attention to Privacy and Users:Real-life use cases, privacy and making blockchain applications more accessible for retail users dominated the conversations at Ethereum’s developer event.
NFT Collections Will Be Regulated Like Cryptocurrencies Under EU’s MiCA Law, Official Says:A carveout for ownership tokens may prove narrow, meaning issuers have to publish lengthy investor white papers.
Ripple Labs Weighs Buying Crypto Lender Celsius’ Assets: Report:The blockchain payment company is the latest company to consider purchasing the assets of the insolvent lender.
DEX Protocol Injective Raises $40M From Jump Crypto, Brevan Howard Unit:The project will use the funds to boost the utility of the INJ Token.
For the Fans: How DAOs Could Change Sports:Experiments with decentralized autonomous organizations promise greater fan participation in sports teams. Is this the future? This piece is part of CoinDesk's Sports Week.
Other Voices:Crypto is making a comeback(CNN)
"We regret to inform you that Hotbit will have to suspend trading, deposit, withdrawal and funding functions, the exact time of resumption cannot be determined at the moment. The reason is that a former Hotbit management employee who left Hotbit in April this year was involved in a project last year(which was against Hotbit's internal principles and of which Hotbit was unknown) that law enforcement authorities now think is suspected of violating criminal laws. So, a number of Hotbit senior managers have been subpoenaed by law enforcement since the end of July and are assisting in the investigation. Furthermore, law enforcement has frozen some funds of Hotbit, which has prevented Hotbit from running normally." (Crypto Exchange Hotbit blog)
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Trend: down || Prices: 20241.09, 19701.21, 19772.58, 20127.58, 19419.51, 19544.13, 18890.79, 18547.40, 19413.55, 19297.64
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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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[Random Sample of News (last 60 days)]
Coincheck hackers trying to move stolen cryptocurrency after major Japanese heist: A chart of the NEM virtual currency against Japanese yen is seen on Coincheck's cryptocurrency wallet app - Getty Images AsiaPac Hackers who stole around $530 million worth of cryptocurrency from the Coincheck exchange last week - one of the biggest such heists ever - are trying to move the stolen "XEM" coins, the foundation behind the digital currency said on Tuesday. NEM Foundation, creators of the XEM cryptocurrency , have traced the stolen coins to an unidentified account, and the account owner had begun trying to move the coins onto six exchanges where they could then be sold, Jeff McDonald said. Hackers made off with roughly 58 billion Japanese yen ($533 million) worth of the cryptocurrency from Tokyo-based exchange Coincheck Inc late last week , raising fresh questions about security and regulatory protection in the booming market. The location of the hackers' account was not known. "[The hackers are] trying to spend them on multiple exchanges. We are contacting those exchanges," Mr McDonald told Reuters from Singapore. At a glance | Cryptocurrencies NEM Foundation spokeswoman Alexandra Tinsman said the hacker had started sending out "XEM" coins to random accounts in 100 XEM batches, worth about $83 each. "When people look to launder these types of funds, they sometimes spread it into smaller transactions because it's less likely to trigger (exchanges') anti-money laundering (mechanisms)," said Tom Robinson, co-founder of Elliptic, a cryptocurrency security firm in London. Mr Robinson said such hopping among different cryptocurrencies was becoming more prevalent among cybercriminals trying to cover their tracks. The coins that the hackers had taken made up around 5 percent of the total supply of XEM, the world's 10th biggest cryptocurrency, according to trade website Coinmarketcap. What is cryptocurrency, how does it work and why do we use it? Mr McDonald said the hackers were unlikely to try to spend anything close to all of the stolen cryptocurrency at once, because the "market simply couldn't absorb that much". Story continues If the hackers successfully moved the coins to an exchange, they were likely to try to swap them into another cryptocurrency before transferring the coins back into a conventional currency, he said. That would make the funds difficult or near impossible to trace. "I would assume that they are going to get away with some of the money," Mr McDonald said. At least three dozen heists on cryptocurrency exchanges since 2011 are known; many of the hacked exchanges later shut down. More than 980,000 bitcoins have been stolen, and few have ever been recovered. Bitcoin | Read more In 2014, Tokyo-based Mt. Gox, which once handled 80 percent of the world's bitcoin trades, filed for bankruptcy after losing bitcoins worth around half a billion dollars - then the biggest ever such heist, which triggered a huge sell-off in bitcoin. "It shows how far the industry has come that a hack of this scale isn’t really an issue," said Robinson at Elliptic. "This is just kind of a blip." As of 1744 GMT, XEM was trading at around $0.83 per coin, with a total market value of around $7.5 billion. That was around 20 percent lower than trading levels on Friday, when the hack was announced, but XEM is still up almost 300 percent over the past two months. Japan's Financial Services Agency (FSA) on Monday ordered improvements to operations at Coincheck, which on Friday suspended trading in all cryptocurrencies except bitcoin. || Catalonia weighs on European markets as bitcoin tanks again: LONDON (AP) -- Stock markets around the world eased back Friday in light pre-holiday trading and amid renewed uncertainty over the restive Spanish region of Catalonia. Bitcoin endured another big retreat and means the volatile crypto-currency has lost a quarter of its value in just 24 hours. KEEPING SCORE: In a shortened pre-Christmas trading session, the FTSE 100 index of leading British shares came back from all-time highs to end 0.2 percent lower at 7,592.66. Germany's DAX fell 0.3 percent at 13,073 while the CAC 40 in France declined 0.5 percent to 5,359. Spain's IBEX underperformed, trading 1.2 percent lower at 10,180. U.S. stock were poised for a flat opening with Dow futures and the broader S&P 500 futures down 0.3 percent. CATALONIA: Snap elections in Catalonia saw parties that are pushing for the region's independence from Spain claim a majority of seats in the new parliament. The elections took place after Spain's government fired the previous regional government, arrested some of its leaders and dissolved the Catalan parliament. The likely continuing political unrest and uncertainty is unwelcome for investors if the early market response Friday is anything to go by. ANALYST TAKE: "This remains a bit of a slow burner and it's hard to assess where the political machinations will take us, but investors are wisely taking a little risk off the table," said Neil Wilson, senior market analyst at ETX Capital. BITCOIN: A bitcoin sell-off that began at the beginning of the week is gaining momentum. Shortly before U.S. markets opened Friday, bitcoin was trading at $13,659.85, according to the tracking site CoinDesk. The cost had soared close to $20,000 as of Sunday. That is a radical price change in just one month. In mid-November, the bitcoin was trading at less than $6,000. The crypto currency has been notoriously volatile, with a significant crash every quarter. Yet this week has been a particularly unstable, and could be biggest sell-off for bitcoin in years. THE QUOTE: "What we're seeing in Bitcoin in recent days is what many people have been anticipating for a while which is speculators getting burned by a sharp and aggressive correction," said Craig Erlam, senior market analyst at OANDA. "The rally over the last couple of months has left Bitcoin vulnerable to this kind of move and it seems the run up to Christmas has triggered some profit taking on the rally and even a shift into some alternative coins." THE DAY IN ASIA: Hong Kong's Hang Seng index added 0.7 percent to 29,578.01 and the Kospi in South Korea climbed 0.4 percent to 2,440.54. The Shanghai Composite index slipped 0.1 percent to 3,297.06 and the S&P ASX 200 in Australia gained 0.2 percent to 6,069.70. India's Sensex climbed 0.5 percent to 33,907.43. Shares in Southeast Asia were mixed. Story continues ENERGY: Benchmark U.S. crude gave up 35 cents to trade at $58.01 per barrel in electronic trading on the New York Mercantile Exchange while Brent crude, which is used to price international oils, lost 32 cents to $64.58 per barrel. CURRENCIES: The euro was down 0.2 percent at $1.1852 while the dollar rose 0.1 percent to 113.39 yen. View comments || What Happened in the Stock Market Today: Stocks had their worst day in years on Friday, spooked by rising interest rates and falling oil prices. Indexes declined steadily throughout the day to close near their lows. TheDow Jones Industrial Average(DJINDICES: ^DJI)lost over 600 points and theS&P 500(SNPINDEX: ^GSPC)erased more than a third of its January gains.
[{"Index": "Dow", "Percentage Change": "(2.54%)", "Point Change": "(665.75)"}, {"Index": "S&P 500", "Percentage Change": "(2.12%)", "Point Change": "(59.85)"}]
Data source: Yahoo! Finance.
Energy stocks led the way down, with theEnergy Select Sector SPDR ETF(NYSEMKT: XLE)plummeting 4.2%. Tech stocks also corrected after some big earnings reports; theTechnology Select Sector SPDR ETF(NYSEMKT: XLK)fell 3%.
As for individual stocks,Mattel(NASDAQ: MAT)bucked the negative market trend despite poor earnings results, andExxonMobil Corporation(NYSE: XOM)fell on a drop in production.
Image source: Getty Images.
Toymaker Mattel reported disappointing sales and earnings last night, but investors tooka positive viewon the company's future, pushing up the stock price 7.9%. Fourth-quarter sales declined 12.2% to $1.61 billion alongside an adjusted loss per share of $0.72. Analysts were expecting a profit of $0.17 per share on a sales decline of 7.8%.
The decline in sales was attributed to disruptions caused by the September bankruptcy of Toys R Us, tighter inventory control by retailers, and the underperformance of some of Mattel's brands. Worldwide gross sales of the Fisher-Price brands were down 12% and American Girls dolls fell 23%, but Mattel Girls & Boys brands sales were up 1% and Barbie increased 9%. Sales in North America were down 17%, and adjusted gross margin fell from 47% in the quarter last year to 32%.
"We have taken aggressive action to enter 2018 with a clean slate so that we can reset our economic model and rapidly improve profitability," said CEO Margo Georgiadis. "We are optimistic about stabilizing revenue in 2018 anchored by our key power brands, entertainment partnerships and exciting new launches."
Investors seem to feel that the worst could be over for Mattel after the company took a big hit in Q4 from inventory adjustments, both in the retailer channel and company-owned inventory. With the channel dislocations behind it, a cost-cutting program in place, and some brand refreshes in 2018, the market seems to be concluding the company's situation may be stabilizing.
ExxonMobil reported sharply higher earnings due to a one-time tax benefit, but excluding that windfall, earnings were significantly lower than what analysts were expecting, and the stock dropped 5.1%. Net earnings for Q4 were $8.38 billion including tax benefits and other extraordinary items, and $3.7 billion excluding those. Adjusted EPS fell 2% to $0.88 while analysts were expecting $1.04.
Revenue increased 17.9% to $66.5 billion, but analysts were expecting $74.3 billion. Oil-equivalent production actually declined 130,000 barrels a day, though, or about 3.2%. Production in the U.S. fell 244,000 barrels per day and lost money if tax breaks and impairments are excluded.
"The impact of tax reform on our earnings reflects the magnitude of our historic investment in the U.S. and strengthens our commitment to further grow our business here," said Chairman and CEO Darren W. Woods in the press release. "We're planning to invest over $50 billion in the U.S. over the next five years to increase production of profitable volumes and enhance our integrated portfolio, which is supported by the improved business climate created by tax reform."
Rising oil prices have unleashed a boom in U.S. oil production that could make it theglobal leader in 2018, but Exxon doesn't seem to be getting its fair share of that growth. Most energy stocks were down today anyway, but investors may be registering their disappointment with the company's lack of growth despite this positive environment.
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Jim Crumlyhas 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. || Jack Dorsey just opened up bitcoin buying and selling for most Cash App customers in a bid for 'greater financial access for all': Associated Press
• Square customers can now use the Cash App to buy and sell bitcoin.
• The feature has been in a limited trial phase since December, but now anyone can use it except customers in New York, Georgia, Hawaii, and Wyoming.
• Square CEO Jack Dorsey called it a "small step" toward "greater financial access for all."
Two months after Squareteased cryptocurrency enthusiasts with a sparsely distributed trial,the payments application has enabled bitcoin buying and selling capabilities for most of its Cash App customers.
Square CEO Jack Dorsey took to Twitter on Wednesday to endorse the view that cryptocurrencies like bitcoin could be a way for marginalized people around the world to access wealth.
"We support Bitcoin because we see it as a long-term path towards greater financial access for all. This is a small step,"Dorsey tweeted.
Though Cash App, a Venmo competitor, is primarily used to settle small payments between friends, the bitcoin feature is only for buying, selling, and holding the cryptocurrency,which has traded around $10,000for the last couple of weeks.
Cash App's main advantage is that it lets its users buy and sell instantly, since the app already has access to cash balances and bank accounts. Other bitcoin exchanges like Coinbase and Gemini can take days to fully activate accounts because they review identity and bank account information.
Cash App bitcoin trading isn't available in four US states — New York, Georgia, Hawaii, and Wyoming — though Square said it is working on rolling it out in those locations.
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SEE ALSO:Bitcoin investors can now use Square's Cash app to buy and sell the cryptocurrency || Some of the biggest crypto exchanges are shutting out new users because they can't keep up with demand: cex.PNG CEX A number of cryptocurrency exchanges have temporally halted on-boarding of new users. Crypto-exchanges are under pressure to keep up with the breakneck growth of the booming digital coin market. Cryptocurrency exchanges are experiencing growing pains as the market for digital coins explodes. Exchanges have struggled to keep up with the breakneck growth of the crypto-market and eye-popping volumes. Exchanges have halted trading, experienced outages, and crashed during periods of high volumes and demand. Part of that pressure has been driven by hundreds of thousands of new market entrants. Now, at least three cryptocurrency exchanges Bittrex, Bitfinex, and CEX.io have stopped onboarding new users altogether. "We have received an enormous number of new account registrations over the past few weeks," said an alert on Bittrex, a US-based exchange."Unfortunately, we have to make a few upgrades to our support and backend systems to handle the increased traffic and load." Bittrex is the third largest exchange by volume, according to data provider CoinMarketCap.com . It's the same story for Hong Kong-based Bitfinex. "Thank you for your interest in opening a Bitfinex account. However, due to extraordinary demand, new account creation has been temporarily paused," said an alert on Bitfinex. Bitfinex said new account creation would be enabled by January 15. CEX.io, an exchange based in the United Kingdom, said the "enormous" amount of new users opening accounts on the exchange was making it difficult for the company to address a backlog of other technical issues on the site. "Every day, an enormous number of users registers on our exchange, which we are extremely excited about," the company wrote in a blog post dated December 21 . "At the same time, this has been putting additional pressure on our support and verification teams." On the US-based exchange Kraken, it appears users can open a new account, but they cannot verify their account to buy and sell digital coins. This reporter was unable to verify his account when setting up a Kraken account, and other new users reported similar problems on Reddit . A representative from Kraken did not respond immediately to a message seeking comment. Story continues slack imgs Kraken Kraken chief executive officer Jesse Powell told Business Insider in November the firm was actively hiring new developers to build out its infrastructure to better handle record trading volumes . Global cryptocurrency markets are now seeing daily trading volumes similar to the New York Stock Exchange . Twenty-four-hour trade volume in the cryptocurrency market soared above $50 billion earlier in December, which is on par with trading activity on the New York Stock Exchange. The milestone illustrates just how hot the market has become in 2017. Investors have flocked to the crypto-market to capture its eye-catching returns. Bitcoin , the largest cryptocurrency by market capitalization, has grown by about 1,400% against the dollar in 2017. A boom in so-called initial coin offerings, an crypto twist on the initial public offering process, has created a raft of other digital assets for investors to speculate on. There are now more than 1,300 cryptocurrencies in circulation, according to CoinMarketCap.com . Subscribe to our Crypto Insider newsletter for the best of the blockchain every day. NOW WATCH: Warren Buffett lives in a modest house that's worth .001% of his total wealth here's what it looks like See Also: Bitcoin developers are moving away to create their own cryptocurrencies here's why The biotech company that pivoted to blockchain is looking for a CTO and a background in cryptocurrency is a 'big plus' Bitcoin could trigger the next financial crisis SEE ALSO: TOM LEE: Bitcoin just had a much-needed pullback and is quickly headed back to $20,000 SEE ALSO: A partner at one of the top bitcoin trading firms told us why crypto is 'such an amazingly fun space to be in' || Gov. Cuomo Asks That New York Be Exempt From Trump’s Offshore Drilling Plans: Gov. Andrew Cuomo requested thatNew York be exempt from an offshore drilling expansionproposed by the Trump administration in a letter to the United States Department of the Interior Monday.
Secretary of the Interior Ryan Zinkeannounced the Trump administration’s plantoallow for oil drilling in previously protected watersoff the coast of the U.S. on Jan. 4.
“The long-term health of New York’s economy is inextricably linked to protecting our ocean resources,” Cuomo wrote in his letter to Zinke. “Much like Florida, New York’s ocean coast is unique and plays a vital role in our economy.”
Though the Obama Administration looked into opening some areas to oil exploration on a smaller scale, the idea was abandoned in 2016 after concerns from the military, coastal residents, and states that would be affected.
This new proposal is much more ambitious.More than 90% of the continental shelfwould be available for drilling rights and only one out of 26 planning areas across the Pacific, Atlantic, and Arctic Oceans and the Gulf of Mexico would be entirely off limits to oil drilling under the Trump Administration's plan.
Cuomo joins Democratic governors in North Carolina and Virginia in asking for an exemption from drilling along the East Coast.
The Trump administration has alreadygranted an exemption to Floridabased on the impact offshore drilling would have to the state's crucial tourism industry after Zinke met with Republican Gov. Rick Scott.
Other states are now making similar claims, and Cuomo pointed to the importance of a healthy coastline to New York's economy.
South Carolina's Republican governor, Henry McMaster, has said he will also seek an exemption. Zinke said he will meet with all concerned governors
See original article on Fortune.com
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• Thailand's Biggest IPO in 10 Years Is All About Power || Warren Buffett Invested in This 3D Printing Trend. Should You?: When Warren Buffett pulls the trigger on a major acquisition, he likes to refer to it as "breaking out the elephant gun." But some elephants are especially big.
That was certainly true of aerospace parts manufacturer Precision Castparts, whichBerkshire Hathaway(NYSE: BRK-A)(NYSE: BRK-B)acquired for an eye-popping $32.3 billion in 2016. It remains Buffett's largest acquisition ever -- and that's before including the company's debt, which put the real price tag at $37.2 billion.
That was a hefty price to pay for a company churning out just $1.5 billion in annual earnings in a historically cyclical industry, and Buffett garnered a fair amount of criticism when the deal was announced. But the Oracle may have seen growth opportunities the rest of the market was largely overlooking -- in combining the leading market positions of Precision Castparts in titanium alloys and technically complex engineered metals with the up-and-coming potential presented by metal 3D printing.
Image source: Getty Images.
The ink dried on the deal at the end of January 2016. By the end of the year Precision Castparts would gobble up Atlantic Precision, a start-up in the metal 3D printing space focused on direct metal laser sintering (DMLS). The technology fuses metal powdered alloys used in additive manufacturing machines to create complex shapes with fine geometries. What was the reasoning?
One of the promises of metal 3D printing is to simplify the process for building complex metal parts and fittings in high-performance industries, such as aerospace, where Precision Castparts generates 70% of its annual sales. For example, additive manufacturing could significantly reduce the number of parts needed for various components of a jet engine, and make repairs and maintenance easier. Or it could reduce the time and cost of manufacturing titanium parts for landing gear, thus reducing weight on an aircraft and boosting fuel economy.
The acquisition of Atlantic Precision may not seem like much on its own, but zooming out provides a more complete picture of the overall strategy being deployed by one of Buffett's newest wealth-building toys. Precision Castparts acquired primary titanium products supplier Timet for $2.9 billion in 2012 and nickel-alloy manufacturer Special Metals in 2006, which provided the technical capabilities to engineer titanium- and nickel-alloy powders. Couple that with DMLS technology, and one could argue the aerospace parts manufacturer is building an integrated technology stack to meet growing customer demand and curiosity in metal 3D printed parts.
Of course, although Precision Castparts is a leader in the space, it's hidden in the vast portfolio of Berkshire Hathaway. There are better ways for investors to directly buy into the promise of metal 3D printing --not least because similar strategies are being deployed by other engineered-materials manufacturers with a strong focus on the aerospace industry.
Image source: Getty Images.
A company needs three things to hack it in additive manufacturing with metals:
1. Powdered alloys
2. A process and/or machine for the specific part being built
3. Technical know-how of the required performance criteria of the part (temperature tolerance, stress and strain response, and the like)
The first two seem trivial, but there's an avalanche of money being spent on research to determine which types of powdered alloys and processes result in the best-performing parts. The third requires a company directly involved in the fabrication of metal parts and knowledgeable about the end customer's needs. All three ingredients for success are important, but the industry won't go very far without a technology ecosystem supported by the first two.
Good news: Metal alloy leaderAllegheny Technologies(NYSE: ATI)and industrial conglomerateGeneral Electric(NYSE: GE)recently created a joint venture to develop and commercialize a manufacturing process for creating meltless titanium alloy powders for metal 3D printing applications.
Meltless titanium could result in a step change in how the world interacts with titanium.
Today,nearly all titanium is manufacturedusing the Kroll process. It involves feeding titanium dioxide into giant reactors, temperatures near 1,000 degrees Celsius, and messy reactions that produce gobs of carbon dioxide emissions and unwanted byproducts. But it works well enough, so industry tolerates the negative aspects.
On the other hand, processes that make meltless titanium alloys from titanium dioxide offer advances in nearly every step (and fewer steps altogether), from reduced temperatures and emissions to higher yields of the intended product. These processes can also create smaller particles and superior titanium alloys not accessible with the Kroll process, which could open up a new age of engineered materials and expand titanium applications far beyond the aerospace industry -- or create the spark needed for the metal 3D printing industry to explode.
Image source: Getty Images.
General Electric has been a leader in meltless titanium research for decades with relatively little to show for it, but years of investment are now starting to pay enormous dividends. And it has been a leader in the metal 3D printing for the last decade, manufacturing everything from jet engine turbines to locomotive engines -- no doubt aided by GE Aviation and its locomotive business. It owns Arcam, which commands roughly 70% of the metal powder market for additive manufacturing. It's also a major investor in theleading metal 3D printing machine start-up, Desktop Metal, which sells industrial-focused machines (despite what its name might suggest).
And now General Electric is linked up with the much smaller Allegheny Technologies, a leader in producing technically complex metal alloys. Theunder-the-radar companyhas long been a key supplier in the aerospace industry -- and to the metal 3D printing efforts of General Electric and others -- and brings a strong manufacturing reputation to the joint venture. That will be key to scaling meltless titanium production to commercial levels, especially considering Arcam's 70% market share is backed by just 750 metric tons of annual capacity.
Alcoa spin-offArconic(NYSE: ARNC)is alsoretooling its businessto capture market share in the fledgling metal 3D printing space. The company already boasts customer relationships with leading manufacturers in the automotive and aerospace markets; is a leading supplier of aluminum, titanium, and nickel alloys; and recently began offering metal powders for additive manufacturing applications.
And similar to General Electric and Allegheny Technologies, Arconic is investing in new processes that will go hand-in-hand with metal powders to create value for its customers. The company's Ampliforge process is being developed in-house to "improve production speeds, reduce costs, and achieve geometries not possible through traditional [manufacturing] methods".
Investors can also invest in metal 3D printing by owning the additive manufacturing companies selling the machines in the first place, although that's currently limited toExOne(NASDAQ: XONE). Aside from being located in Pittsburgh like Allegheny Technologies and Arconic, the company doesn't present a compelling opportunity in the space. While it has also tried its hand at selling metal powders, the revenue ramp has been painfully slow. That has made the lumpiness of machine sales (i.e. each metal printer is very expensive and relatively few are sold each year) more profound.
The company is slowly making progress, but it might be some time before ExOneturns a profit. Making matters worse, its technology may not even be the winner when the dust settles, which presents a technical risk that metal powders largely avoid, since powders will be needed no matter which process comes to dominate the space.
That technology risk brings up an important point: The metal 3D printing space is still in a very early stage. The winners and losers have yet to be determined, although interested investors won't find better ways to directly invest in the emerging opportunities than General Electric, Allegheny Technologies, and Arconic.
Of course, the conglomerate presents the same obstacle as Berkshire Hathaway and Precision Castparts. That is, additive manufacturing has relatively little influence on the overall financial performance of General Electric today. But given its dominance in the overall metal 3D printing supply chain, few companies are better positioned to capture growth opportunities in the space.
Allegheny Technologies and Arconic also generate relatively little of their sales or earnings from additive manufacturing today, but both boast long-standing customer relationships that could be a difference maker down the road.
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Maxx Chatskohas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Berkshire Hathaway (B shares). The Motley Fool has adisclosure policy. || 2 Stocks to Profit From the Republican Tax Bill: Now that the GOP tax bill is a fait accompli, investors should take stock of the bill's effects on their holdings. To date, many analysts have focused on the bill's repatriation provision, declaring Apple the biggest beneficiary . However, repatriation is a narrow issue that will soon be discounted into stock prices. In the long run, it appears industries currently paying high effective tax rates with significant capital expenditures will benefit most from this bill. The industry that best fits this description is telecommunications: Income-hungry shareholders of Verizon (NYSE: VZ) and AT&T (NYSE: T) should be thrilled. Judge gavel and money Image source: Getty Images. Lower tax rates will benefit high-tax paying companies the most There's a dirty secret about corporate taxes: Although the U.S. has one of the highest tax rates among developed economies, companies pay a far lower effective tax rate. A report from the intergovernmental Organisation for Economic Co-operation and Development (OECD) pegged those figures at 38.9% and 18.6%, respectively. The difference is due to exemptions and deductions that have littered the tax code; often the existence of those tax breaks is more indicative of the quality of a company's lobbyists than legitimate business needs. As the chart below shows, Verizon and AT&T pay nearly double the effective tax rate. T Effective Tax Rate (TTM) Chart T Effective Tax Rate (TTM) data by YCharts Unsurprisingly, telecoms will benefit significantly from the lower rate. Earlier this month a report from UBS found telecoms would most likely get a boost of 12% in earnings per share, if the bill lowered the tax rate to 25%; in the end, it was lowered to 21%. According to UBS, telecoms will get the highest boost from the plan, with transportation and retail faring almost as well. Immediate capex expensing comes at the perfect time In the short run, AT&T and Verizon will also benefit from the bill's capital expenditures provision. For the next five years, companies can immediately expense capex for equipment and other short-lived items. This is a great benefit for AT&T and Verizon, which have spent $22.9 billion and $17.5 billion, respectively, on capital expenditures over the last 12 months: VZ Capital Expenditures (TTM) Chart VZ Capital Expenditures (TTM) data by YCharts . While certain expenditures will continue to be capitalized (initially recorded on the balance sheet and expensed over time via depreciation), this should also provide tailwinds to investors by lowering the weighted average cost of capital for projects, making them more profitable. This provision couldn't come at a better time for telecommunication firms. Many are grappling on spending large sums of capex on 5G rollout, while questioning the return on their 4G rollout spend . Story continues One thing to watch A potential red flag is the new provision that limits interest deductibility, as both Verizon and AT&T have large piles of debt and required interest payments. The new bill limits the deductibility of net interest expense to 30% of earnings before interest, taxes, depreciation, and amortization (EBITDA) for the first four years, and at 30% of earnings before interest and taxes (EBIT) afterward. The chart below shows net interest income, EBITDA, and EBIT for both companies over the prior year: VZ EBITDA (TTM) Chart VZ EBITDA (TTM) data by YCharts . Even with the more-stringent EBIT figure, both look sound in the mid- to high teens. But this provision could limit the ability to borrow in the future, especially if further margin compression happens and interest rates increase. Dividend investors should be happy with the bill AT&T and Verizon have mostly missed out on the stock run since the election of Trump , but seem to be among the biggest beneficiaries of the policies enacted during his administration. This bill, and the overturn of net neutrality, should allow both firms to continue paying those massive dividends while growing revenue and earnings. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Jamal Carnette, CFA owns shares of AAPL and AT&T.; The Motley Fool owns shares of and recommends AAPL and Verizon Communications. The Motley Fool has the following options: long January 2020 $150 calls on AAPL and short January 2020 $155 calls on AAPL. The Motley Fool has a disclosure policy . View comments || Is Ferrellgas Partners, L.P. a Buy in 2018?: The brutally cold weather of the last several weeks might not have given you the warm and fuzzies inside, but it was exactly what propane distributors needed. Especially Ferrellgas Partners (NYSE: FGP) . It struggled in 2016 and 2017 , with its midstream business hemorrhaging cash and its prized propane business sidelined by unusually warm winter weather. It may have encountered an existential crisis if forced to endure similar headwinds in 2018. But the recent arctic blast promises to deliver a shot of adrenaline into the company's turnaround campaign. Does the near certainty of a solid performance in the current quarter make Ferrellgas Partners a buy in 2018? A man turns a knob on a propane tank. Image source: Getty Images. A strong start for propane You probably don't need any reminders of how cold it's been lately, but laws were suspended in some states so propane trucks could make deliveries in recent weeks. That's how cold it was. Making matters worse, Uncle Sam's run-in with sub-zero weather occurred after propane prices began creeping up and national inventory falling. Expect both trends to have worsened after the cold spells are reflected in the data. Residential propane prices were 11% higher on the first day of 2018 compared to one year ago according to data from the EIA . Wholesale prices were 30% higher, and the nation's inventory 19% lower in the same comparison periods. When it comes to distributing propane, volumes, not prices, are king. That's because propane prices are usually relatively stable, even during cold winter months, since companies purchase their stocks during the summer months. That said, Ferrellgas Partners should achieve one its best winters in several years in terms of both volume and prices when it releases fiscal second-quarter 2018 (the period from the first day of November to the end of January) results sometime in April. The strong start to the year for propane is exactly what the company needed, but it's likely not enough on its own to erase two years of misery. Luckily, the midstream business could be on the cusp of riding a wave of momentum. Story continues Crude oil logistics featuring tankers, railcars, and a pipeline. Image source: Getty Images. Midstream turnaround? One of the leading reasons Ferrellgas Partners decided to jump into midstream operations was the fact that crude oil transportation was relatively insulated from seasonality, unlike the propane business. Whether it's January or June, major oil-producing regions are still pumping dinosaur sauce out of the ground, and the company would be there to haul it to its next destination. While that's all true, collapsing crude oil prices and the loss of a key customer made the logistics business a lot more difficult. But with energy prices at multi-year highs and American crude oil production expected to hit record highs this year, that could change in 2018. The company showed some minor signs of improvement during its fiscal first-quarter 2018 (the period up to the end of October 2017). The midstream segment posted a 12% bump in revenue compared to the year-ago period, thanks to an 8% year-over-year increase in short haul delivery volumes. By focusing on higher value routes, Ferrellgas Partners improved the gross profit in its crude oil and other logistics sub-segment from just 34% in the first quarter of 2017 to 63% in the most recent quarter. Not bad. The midstream business could improve significantly in the months and year ahead on crude oil prices' near-term highs, matching levels last seen in 2015. Ironically, that was also the last time the company seemed to have its head firmly above water. Investor takeaway I have to admit that Ferrellgas Partners' prospects became much rosier in the last month after I last wrote about it. Nonetheless, the prior CEO dug a pretty big hole -- and he was digging for over two years. That won't be rectified in a single quarter, not even if fiscal second-quarter 2018 delivers surprisingly good results, although it could hint that the propane leader is finally regaining its footing. Given that, I would still sit on the sidelines with this stock. The next update from management will be key to gauging how Ferrellgas Partners will fare in 2018 and just how much more work is needed to reach its balance sheet and cash flow goals. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Maxx Chatsko 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 . || Crypto CEO responds to accusations of $600 million ICO fraud: Jared Rice Arise Bank LinkedIn LinkedIn The Securities and Exchange Commission on Tuesday announced it seized the assets of AriseBank and halted its initial coin offering . The company has touted partnerships with banks that do not exist, but says it will fight the SEC's accusations. The CEO of AriseBank, which had its $600 million initial coin offering shuttered by regulators last week , has released a lengthy statement vowing to fight the Securities and Exchange Commission’s accusations. “Many people’s dreams fail over time, it’s simply a circumstance that surrounds us when we’re trying to do something that can and will change the world,” Jared Rice told initial coin offering supporters in the messaging app Telegram late Tuesday. “AriseBank was and STILL IS a project that I gave my entire life to," Rice added. "I’m not hiding. I’m proud of what we’ve built and regardless of what happens, I can sleep at night knowing that I did my best, I gave it my all and I did it with all the right intentions." In court documents unsealed Tuesday , SEC investigators in Texas allege AriseBank used celebrity endorsers and social media to swindle hundreds of investors out of at least $600 million of its $1 billion stated goal. A judge also appointed Mark Rasmussen, partner at global law firm Jones Day, legal “receiver” and neutral third-party to oversee the seized funds. "This is the first time the Commission has sought the appointment of a receiver in connection with an ICO fraud," Steven Peikin, Co-Director of the SEC’s enforcement division , said in a press release. “We will use all of our tools and remedies to protect investors from those who engage in fraudulent conduct in the emerging digital securities marketplace." Two other banks which Arise said it had acquired stakes in , one outright and one a minority ownership, do not exist. A former AriseBank executive, speaking to Business Insider under the condition of anonymity, said there was "zero paperwork" for the firm, and that Rice was using the LLC registration of his other company, marketing firm Dotoji, to do business. Story continues "Arise, as far as I can tell, doesn't have any actual working products," the employee said. "Despite months of Jared's 'work' there is not much to show for it." Still, Rice stands behind his vision for AriseBank and its ICO, AriseCoin as a way to disrupt traditional banking, avoid governmental monetary controls, and help bring banking services to the un- and under-banked people of the world. "For us as people, the day has come for us to speak on the disruption of blockchain, why the government wants to attack it and why WE THE PEOPLE deserve a fair shake at regulating it, for us - not them,” Rice said. “We have to build upon this - we have to fight." A court date has been set for February 8 in the US District Court for the Northern District of Texas. Jones Day says investors who lost money can contact the firm at [email protected] for more information about their investment. NOW WATCH: Microsoft President Brad Smith says the US shouldn't get 'too isolationist' See Also: Amazon's store brand makes a lot of great tech, but these are the 12 gadgets actually worth buying Bitcoin is under pressure as the crypto selloff continues in Asia A 21-year-old college student invested 80% of his summer paycheck in cryptocurrencies and made an enormous profit SEE ALSO: Sign up for Crypto Insider to get the most important updates on all things crypto delivered straight to your inbox.
[Random Sample of Social Media Buzz (last 60 days)]
Man I’m so sorry. Nice humble complaint btw. Hey you should buy bitcoin also || Global Banking Regulator Warns Of Bitcoin Bubble http://cointelegraph.com.convey.pro/l/0X5lJq6 #bitcoin by #bitcoinpoet via @c0nvey || I'm in it to win it. It's not just about the bitcoin... bigger than that. #cryptocurrency #Bitcoin #bossmethodpic.twitter.com/zFBIJ0W0vV || Jan 11, 2018 22:00:00 UTC | 13,456.90$ | 11,185.30€ | 9,942.10£ | #Bitcoin #btc pic.twitter.com/m184K5hJGO || Join for #Free Today > http://WealthTrending.com and compound Your Earnings. Why #Bitcoin / #Bitcoins Surging Higher
https://www.facebook.com/1090615584354830/photos/a.1107269936022728.1073741828.1090615584354830/1535101666572884/?type=3¬if_id=1511933248159519¬if_t=like … #cryptocurrency RT @LoriMoreno #wealth #trending #wealthtrendingpic.twitter.com/AiwmyHeNWL || Vinny Lingham Points out new Bitcoin Investors Only Want Profit Rather Than Innovation http://ift.tt/2A3wLmS || こんばんは。 bitcoin priceという || Bitcoin is far inferior tech wise to newer coins. I am not sure it makes it long term, but the blockchain tech is the future. || Bitcoin down $2000 this morning to $15,000. Tulip Mania?? || こんばんは。 bitcoin priceという
|
Trend: up || Prices: 6955.27, 7754.00, 7621.30, 8265.59, 8736.98, 8621.90, 8129.97, 8926.57, 8598.31, 9494.63
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Crypto Whale Buying Activity Is Good and Bad News for Bitcoin Bulls: ByCCN: A bitcoin analyst and blogger confirms that the recent rise in thebitcoin pricewas not due to any kind of organic investor flow.
My theory was that crypto whale tradersswooped in late last year not merely because of the 85% decline in BTC but because of a key technical trading factor – and nothing more.
Willy Wooconfirms that the recent price rise was driven more by whales buying and trying to manufacture a short squeeze.
Willy Woo points out bitcoin short squeeze | Source: Twitter
This is both good news and bad news for bulls.
The good news is thatbitcoin will behavelike most low-float illiquid stocks.
With low-float illiquid stocks, the limitation on share count means that the stock will always be subject to high levels of volatility and large spreads on the bid-ask.
Read the full story on CCN.com. || Crypto Markets Show Signs of Recovery, While Oil Prices Slump: Friday, May 31 —cryptocurrenciesare on the rise again after seeing a slight correction yesterday, May 30, with EOS (EOS) being the only coin among the top-20 cryptocurrencies to register double-digit gains.
Market visualization byCoin360
The leading digital currency bitcoin (BTC) is up slightly over 3% on the day, and is trading at $8,573 at press time. On its weekly chart, bitcoin saw its lowest price point at $7,924 on May 26, while its highest price point of $8,994 was on May 30.
Bitcoin 7-day price chart. Source:CoinMarketCap
Meanwhile, only 1.3% of economictransactionsfor bitcoin came from merchants in the first four months of 2019, according to recentresearchfromUnited States-based blockchain intelligence firm Chainalysis.
The second largest coin by market capitalization, ether (ETH), is up by 4.86% in the last 24 hours, and is trading at $268.75 at press time.
Ernst & Young’s head of innovation, Paul Brodystatedearlier today that 83% of decentralized applications (DApps) on the Ethereum network are “not in the most productive uses.” Brody noted that 14% of Ethereum-based DApps are used atcryptocurrency exchanges, while most of them are used for gambling and gaming, accounting for 44% and 13% of DApps, respectively.
Ethereum 7-day price chart. Source:CoinMarketCap
Ripple (XRP) has seen a 3.58% increase in its price over the day to trade at around $0.438 at press time. The altcoin started the week at the $0.383 price point.
XRP 7-day price chart. Source:CoinMarketCap
EOS has shown over 15% growth on the day, and is trading at around $8.58 at press time. At the beginning of the day, EOS was trading at $7.32, dipping to as low as $7.28.
EOS 7-day price chart. Source:CoinMarketCap
The remaining coins on CoinMarketCap’s top-20 list have registered gains between modest 0.13% and 10%, with none of the coins in the red.
Total market capitalization of all digital currencies is over $272 billion at press time, up around $25 billion from its intraweek low of around $247 billion on May 26.
Total market capitalization 7-day chart. Source:CoinMarketCap
As CNBCreportedearlier today, oil prices slumped, with Brent crude futures falling $2.40, or 3.59%, to $64.47 a barrel, and U.S. West Texas Intermediate (WTI) crude futures decreasing 5.5% to $53.50 per barrel.
The drop purportedly follows U.S. President Donald Trump’s decision to increase tariffs unless Mexico stopped people from illegally crossing into the United States. The plan would impose a 5% tariff on Mexican imports starting on June 10 and increase monthly, up to 25% on Oct. 1.
• Bitcoin Continues to See Negative Corrections After Breaking $9,000, US Stocks Tumble
• Crypto Markets Turning Green, Oil Prices Tumble
• Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Bitcoin SV, Stellar, Tron: Price Analysis June 3
• Bitcoin Price Approaches $8,600 as Top Cryptos See Slight Gains || Ethereum Price Jumps to 8-Month High After Bitcoin Plunges $645: ByCCN: Bitcoin’s breathtaking rally has dominated the headlines in recent weeks, but today it’s the second-largest cryptocurrency’s turn to enjoy the spotlight. Theethereum pricesurged as high as $281.77 on Thursday, launching ETH to an eight-month high.
The cryptocurrency asset witnessed massive capital influx into its market when its frontrunnerbitcoin began to correctfrom its overbought territory. The inverse correlation signified that bitcoin investors were hedging into the ether market, a theory further validated by ETH’s 16% appreciation against bitcoin in the last 24 hours, as shown in the chart below.
The ethereum price rose more than 15% against bitcoin. | SOURCE: COINMARKETCAP.COM
Thebitcoin price, as CCNreported, doubled during a breakneck 45-day bull run, bringing its gains for 2019 to an impressive 119.26%. The move allowed the cryptocurrency to break above several crucial resistance targets, the last being $8,000, to reclaim a nine-month high of $8,391 on Bitstamp.
The ethereum price, meanwhile, held relatively flat. The cryptocurrency failed to catalyze a massive rally like bitcoin did – at least until May 11 when it suddenly popped more than 20%. The surprise upside movement matured into a full-fledged interim bull run, and ETH ultimately soared 63.59% in just six days.
Notably, the bitcoin price corrected lower today, plunging more than 7.5% to an intraday low at $7,746. As of the time of writing, BTC/USD stood at $7,941 for a daily loss of around 2%.
Read the full story on CCN.com. || Indonesia ETFs Gather Momentum as Post-Election Protests Abate: This article was originally published on ETFTrends.com. Indonesia country-specific exchange traded funds stood out Thursday, strengthening on hopes of stability following a round of post-election riots that seem to be dying down. Among the best performing non-leveraged ETFs of Thursday, the iShares MSCI Indonesia ETF ( EIDO ) increased 2.7% and VanEck Vectors Indonesia Index ETF ( IDX ) rose 2.5%. Indonesia's stock market strengthened with calm return to the streets of Jakarta, following post-election protests. Riots broke out after the election commission confirmed earlier this week that incumbent President Joko Widodo's beat out ex-general Prabowo Subianto in the April 17 poll, Reuters reports. Anugerah Zamzami Nasr, an equity research analyst with PT Phillip Sekuritas Indonesia, argued that traders turned risk-on once the unrest settled down and grew confident that stability would return. The government deployed tens of thousands of police officers to deal with violence that burned through two nights, which left at least seven people dead and over 200 injured. "We will not give any space for riots, especially those who will damage Indonesia," Widodo told reporters. President Joko Widodo defeated former army general Prabowo Subianto by a margin of 55% to 45% in the recent polls, but Prabowo planned to challenge the result Thursday in the Constitutional Court, alleging massive fraud but provided no credible evidence, VOANews reports. "We support all moral and constitutional means that are peaceful and non-violent in this political fight for our nation. I plead to all elements who [are] exercising their aspiration — the police, the armed forces and everyone else — to refrain themselves from acts of violence, or even verbal violence, anything that is provocative," Prabowo told reporters late Wednesday. Earlier in the week, Prabowo urged supporters to show their support peacefully. "Our steps should be constitutional, democratic, peaceful, without any violence! Those who still believe in me and my friends here ... we fight not for personal benefit, but for the sovereignty of the people, for democracy, for independent Indonesia, to be free from occupation in any form," he said. Story continues For more information on the Indonesian market, visit our Indonesia 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 Kevin O’Leary: Motherly Advice I Will Never Forget Marijuana ETF YOLO Looks Toward A Budding Future Vans, Nike Among 170 Footwear Companies Concerned About Tariffs Bitcoin, Stablecoin, Blockchain, Enterprise Ledger … WTF? So Many Retirement Idiots READ MORE AT ETFTRENDS.COM > || Bitcoin Pizza Day: Celebrating the worlds most expensive fast food order: Wednesday marked the nine-year anniversary of the first Bitcoin transaction. Back in 2010, Laszlo Hanyecz, aka Bitcoin Pizza Guy, bought two Papa Johns pizzas (worth $30) for 10,000 BTC. At the time, that seemed like a bargain, given Bitcoins low value. However, fast forward to the present day and one BTC is worth about $8,000. So, approximately $80 million for some posh cheese on toast. Ouch! And thus Bitcoin Pizza Day was born. The crypto space has come a long way in the last nine years, but is still some way from crossing over to the payments mainstream, according to FinTech heavyweight Chris Skinner, Chair of the European networking forum The Financial Services Club and Nordic Finance Innovation. In a recent blog post, he notes that there have been a number of reboots (forks) of Bitcoin and Ether since their inception, and this demonstrates the experimental nature of where we are today and why cryptocurrencies are not ready for prime time yet. The future could well be stablecoins, he argues. We have IBM developing stablecoins, tied to the US dollar, Facebook about to launch one
In fact, some claim the marketplace is already overloaded. Nevertheless, it does make sense to have a digital currency backed by real assets. Whether it be US dollars, gold, property or any other asset, true asset-backed stablecoin currencies should win over currencies backed by nothing. Theres little behind Bitcoin except the promise of a global currency without government, and even thats been pooped. China has successfully banned Bitcoin as a currency, Bitcoin trading, ICOs, and is now moving on to banning Bitcoin mining, Skinner concludes. One of the greatest technological advances that humanity has ever seen However, for every sceptic, theres a fan boy or girl claiming that crypto will revolutionise the payments world. By 2022, people will routinely use Bitcoin in everyday transactions such as buying coffee at Starbucks, reckons venture capitalist Tim Draper. In a recent podcast interview on NBC Bay Areas 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? Story continues Is that a problem? he responded. Thats 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 Bitcoin Pizza Day: Celebrating the worlds most expensive fast food order appeared first on Coin Rivet . View comments || Bitcoin Bulls Make Another Attempt to Wrestle $8,000 Level From Bears: Investing.com - Bitcoin attempted to mount a rally above the $8,000 level on Friday, amid rising expectations that bitcoin watchers are set to ramp up purchases of the popular currency ahead of a cut in overall supply.
Bitcoin rose 4.00% to $8,081, up from a low of $7,700. Over the last year, the popular crypto has made several attempts to breach the $8,000 level in a meaningful way but, until Friday, has come out short. Bitcoin had peaked at nearly $20,000 in December 2017, then slumped.
Its latest attempt to rally above the key level comes as traders expect bitcoin miners, responsible for maintaining the bitcoin network, to hoard popular crypto ahead of the next halvening, which will see the amount that bitcoin miners receive halve to 6.25 BTC from the current 12.5 BTC, reducing the total supply in the market.
For the uninitiated, bitcoin miners are users who help maintain the system by validating transactions stored in blocks on the network.
But there are some who warn that the halvening, which occurs every few years, is becoming less relevant.
By the very nature of halving the number of new tokens issued every few years, “on an absolute basis, each halvening is becoming increasingly less relevant," said Kyle Samani, co-founder of crypto hedge fund Multicoin Capital Management.
Still, the overarching message from the crypto community is one of optimism amid signs that participation from institutional investors is beginning to gather pace.
“You’re starting to get that long waited for institutional adoption. Fidelity is rolling out institutional custody. They’re getting customers," said Brian Kelly, crypto analyst and CEO of hedge fund BKCM in New York.
The optimism in bitcoin has triggered fresh fund flows into other cryptocurrencies, boosting the total crypto market cap rising to $252 billion from $235 billion a day earlier.
XRP/USD rose 3.86% to $0.38776, ETH/USD was up 3.63% to $252.35 and LTC/USD added 14.89% to $101.26.
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Facebook in Talks With Coinbase, Winklevoss’ Gemini to Launch Its Globalcoin: FT Report || Op Ed: Lightning Network Consensus Is a Marketplace and That’s Okay!: During the “scaling debate” before theSegWit2X user-activated soft fork(UASF), Bitcoin businesses were getting their first bitter taste of Bitcoin’s censorship resistance. They wanted change to be easier. They wanted their influence to be effective. They wanted to take shortcuts. Unfortunately for them, Bitcoin was created to resist control. Entities that seek to position themselves against Bitcoin are choosing a path of perpetual hypocrisy and frustration.
Those who follow me in interviews might be tired of hearing this, but each Bitcoin business has the choice of making Bitcoin its best friend or its worst enemy. The signers of theNew York Agreementchose to make Bitcoin their biggest problem and, to this day, most of them have only gotten worse in this regard.
How can you tell the difference between a genuine Bitcoin business and an enemy? It’s simple! Sincere Bitcoin businesses focus on providing utility to Bitcoin and Bitcoiners, whereas antagonistic businesses maximize their ability to exploit their customers by securing as much of their value into their own custody as possible. That is the battle line. They are actors that want to compete with the old system, but there are true Bitcoin entities that work to delete the old system instead.
Back then, the big blockers claimed they merely wanted lower fees to make room for the billions of people clamoring at the imaginary gates of Bitcoin. But most of these businesses waited forever to activate SegWit, and some major ones still don’t even batch properly. They pollute our blockchain, withholding these efficiencies from their customers. Instead, they barrage new entrants with traps upon arrival, literally bribing them to learn about useless shitcoins and tokens.
Custody-preferring KYC businesses are wolves in sheep’s clothing seeking to liberate you from your BTC, but they should be seeking to liberate you from custodial banking.
Bitcoin is here to delete custodial trust and provide a new circular economy.
Exchanges and other custodians basically acted as Bitcoin’s primitive second layer. They added central efficiencies, but the risks were exchange hacks, exit scams, closed accounts, censorship and surprise-KYC requirements.
Fast forward to the present and we have a new paradigm that has grown on top of Bitcoin.The Lightning Networkanchors onto Bitcoin, providing a new way to transact. It is faster, less expensive, and capable of handling higher capacity. This is the first time we can truly use Bitcoin in a peer-to-peer fashion, instantly, within a much, much different protocol environment, an environment where you simply do not need to give trusted custody to receive centralized services.
But the former NYA SegWit2X players are mostly ignoring Lightning, with the most notable exception beingBitfury and their Peach project. More than 50 businesses supposedly wanted better Bitcoin scaling and supported forking Bitcoin. Now the great majority of those businesses aren’t helping with development, funding, products or services for the Lightning Network.
I’m not convinced fiat businesses like Coinbase can convert from being enemies into allies of Bitcoin. They are deeply invested into the State and traditional finance, employing strategies that leverage their relationships with them. They don’t understand how to design a new type of business that can actually profit from providing utility to Bitcoin. Thankfully, some of us do get it, and we’re gonna eat their lunch.
I’m so excited about all the ways we can build on Lightning. The fact that most Silicon Valley, VC-backed businesses aren’t interested in Lightning is embarrassing. We have a huge head start, but we need to start behaving more intentionally and strategically to capture it.
Big blockers like to taunt Lightning supporters by pointing out how Lightning Network completion seems to perpetually be 18 months away. It’s an unfair perspective considering how far we have come. It’s probably silly to think programmable money will ever be “done” at all.
However, we have to be careful not to prove them right. In my opinion, Bitcoin and Lightning are at a turning point, and it is finally time to begin the Bitcoin Revolution. We have to ride the line between endlessly making tech and endlessly making toys. It’s time to start solving problems for people with actual products and stop making features for the sake of demonstrating tech. It’s time to start helping people break the rules with Bitcoin and to make Lightning irresistible to businesses and consumers.
The war to delete custodial Bitcoin as a concept has begun. The foundation for a circular Bitcoin economy is being laid out as I type. Pick up a hammer and get in here!
We keep saying that blockchain-not-Bitcoin is stupid. We keep mocking ICOs. But these projects keep getting all the investment dollars! That is about to change.
In this new economy, a new type of Bitcoin business is emerging that will address following product cycle:Trust > Hybrid Trust > Trustless.
Until now, many businesses focused on providing trusted services that require or encourage the customer to relinquish custody of their coins. Lightning expands business opportunities to enable hybrid, or momentary, trust, as well as trustless services.
I believe this will result in an environment where smart entrepreneurs can identify products that people need in the interim between now and when all commerce can be trustless, advancing their products to require less and less trust over time with new technologies.
Lightning removes the trust aspect of centralization and creates new dynamics to leverage trust, reducing risks to mere inconveniences. This is a design tool for us to utilize. This is what Bitcoin commerce has been waiting for.
Familiarize yourself with the concept ofhybrid trust: the temporary trust a business earns via reputation and their incentive to maintain it. This might sound like babble upon first reading it, but you can look atBitrefill’s Thor Turbo channelsfor a great example.
People need to trust that Bitrefill will actually deliver the turbo channel when they purchase it, that Bitrefill will deliver the correct amount of Bitcoin in their channel, and that Bitrefill will relay any attempts to use the channel. But all of that happens in a moment. Then, Bitrefill delivers the channel instantly, and lets you spend your coin instantly. If you get skittish or Bitrefill doesn’t relay your spends, you can close the channel. You are free to opt out or in at any time, and Bitrefill only has custody of your BTC for the brief moment when you are purchasing the channel.
Thor Turbo channels can also follow the product path I mentioned earlier by going from a service purchased within the Bitrefill.com platform, to a Bitrefill white label API service, to a native protocol service in every node that could also be mapped when routing to instantly open new paths. Still with me?
Bitcoin was always a push payment system, but Lightning allows businesses to get creative with it because we don’t have to break the protocol to change rules for new products and services.
The landscape on the Lightning Network is such that it allows for subnetworks and external networks to be interoperable. While there is a BOLT specification process, it is only necessary if you want to get a feature into the consensus of cooperating developers, not the consensus of users.
The nature of the Lightning Network being truly peer-to-peer allows for you to have special rules with any peer or set of peers. This is a feature Bitcoin’s base layer isn’t very good at.Use it.
Here is an example of a recurring question I overheard at the New York Blockchain Week conferences last week:
“When do you think they will raise the Lightning channel size limit?”
“When Lightning Labs is ready, I guess.”
I have tons of respect for Lightning Labs and everyone on that team. I met many of them for the first time last week, and it was truly a delight to talk shop with them. I have so much to thank them for, but I cannot allow this misconception to grow.
There is no such thing as consensus on the Lightning Network; instead, we have compatibility. That means you can literally break the rules of the majority, as long as there are other people that have an incentive to break the rules with you.
If you want bigger channels, make them bigger. You do not need permission, you need cooperation. You do not need consensus, you need incentive.
Let me let you in on a little secret. Objectively speaking,Bitrefillis running the most economically relevant nodes on the Lightning Network and demonstrating the concept of a Lightning Service Provider (LSP) in its early stages by creatively leveraging hybrid trust to provide utility to real consumers.
Lightning payments are currently at 5 percent of unique payments received by Bitrefill, growing at a rate of ~35 percent monthly.
People are asking a lot from us and putting some pretty big expectations on our shoulders. A little bit of that is our fault for being Lightning cheerleaders in the media, but most of it is just pure natural market-demand behavior. Users are using our platform to secure real utility.
I am surrounded by all of this every day, and now all kinds of cool observations are becoming apparent to me. We don’t have to perform acrobatics to route transactions because everyone already likes being connected to us. We don’t have to question whether to do more with Lightning because the market is quite literally demanding it.
We don’t have to wait for permission to make new Lightning products.
It sounds scary, doesn’t it? Bitcoin has a playground now, and it’s kind of a big deal.
While decentralization is very necessary to make Bitcoin work, it is not necessary to advance Lightning’s usefulness.
I see a LOT of Lightning projects, wallets, games, labs and businesses popping up, but I’d like to see some consolidation and cooperation, both for efficiency and for the users’ sake. I do not want to use a different app for everything, nor do I want any of my favorite apps to be abandoned.
If Lightning is a marketplace of implementations and services, that means there will be winners and losers. Entities are competing for funding, users and overall uptake within the network.
These dynamics are evident at Bitrefill already. Some of our nodes use the Eclair implementation because the other implementations don’t support the tech necessary to provide Thor Turbo channels. Turbo channel buyers have to use Bitcoin Lightning Wallet on Android for the same reason. Should Bitrefill lobby all wallets and implementations to add support? Should we submit a BOLT when we already know some developers don’t appreciate this feature? Should we wait for Bitcoiners to complain to their favorite wallet providers to implement support? Should we make our own wallet and skip these concerns?
I’m not sure if cooperation will merely result in consolidation or if it can transcend competition in this environment, but I’m sure everyone will try all angles to stay agile.
Now that Bitcoin and Lightning can actually advance in a path that the market demands, we should be more strategic about the projects we choose to invest our time and money on. Start thinking like a product manager, UX designer and business development person all at once. Zoom out, plan and be intentional.
I hope no one sees this post as hostile to Bitcoin or anyone involved in Lightning Network development. I’m trying to share my observations in hopes they will accelerate Bitcoin’s inevitability.
If I have time, I will do a follow up post going deeper into the interesting kinds of products you can create if you leverage a little centralization and some of Lightning’s unique qualities.
… Or, I will keep the ideas to myself and get back to work!
This article originally appeared onBitcoin Magazine. || Is the Expectation of a U.S.-China Trade Deal Overblown?: This article was originally published on ETFTrends.com. Saturday could be a make or break moment for a U.S.-China trade deal as U.S. President Donald Trump and China’s Xi Jinping will meet at the G-20 summit to hopefully iron out their differences on a trade deal that was supposed to happen earlier this year. With the capital markets poised to respond to the upside if a deal is done, is this optimism overblown? “The rhetoric coming out of China has changed a lot. China is digging in its heels," said Invesco’s Kristina Hooper, the firm’s chief global market strategist. “So, unless the U.S. is willing to take minor concessions around narrowing the trade deficit, I don’t think we’re going to see a deal.” However, who needs a trade deal when the U.S. economy can maintain its current growth rate? It's a question that investors weren't asking in May when the volatility stricken month sent the capital markets in a daze, but Larry Kudlow, director of the National Economic Council, thinks this is no longer the case. “The U.S. economy is very strong,” Kudlow told CNBC’s “ Power Lunch . ” “I think we’re in very good shape and I think we’ll maintain a 3% growth pace this year.” “That 3% number is not contingent on a China deal that might not be satisfactory for American economic interests,” Kudlow added. “What has changed is lower tax rates, massive deregulation, opening up the energy sector and various trade reforms.” Kudlow's comments come after the U.S. economy added just 75,000 jobs last month, falling below the expectations of economists polled by Dow Jones who were forecasting a gain of 180,000 jobs. In addition, manufacturing activity in the U.S. grew at its slowest pace last month since October 2016. Still, this doesn't faze Kudlow's view on the strength of the economy. “I wouldn’t put much stock in one month’s jobs number. There’s lots of other evidence” of a strong economy, Kudlow added. As the U.S. economy maintains its pace of growth, assuming that Kudlow's comments come into fruition, investors can look to smart beta options like the Vanguard Value Index Fund ETF Shares ( VTV ) . VTV seeks to track the performance of a benchmark index that measures the investment return of large-capitalization value stocks. Story continues The fund employs an indexing investment approach designed to track the performance of the CRSP US Large Cap Value Index, a broadly diversified index predominantly made up of value stocks of large U.S. companies. The advisor attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index. For investors looking for continued upside in U.S. equities over international equities, the Direxion FTSE Russell US Over International ETF ( RWUI ) offers them the ability to benefit not only from domestic U.S. markets potentially performing well, but from their outperformance compared to international markets. The fund’s long positions include holdings that helped the S&P 500 and Nasdaq Composite reach highs last week like Apple and Microsoft, which just hit $1 trillion in market capitalization. Short country positions include Japan, which saw a surprise drop in factory data the same time U.S. equities were doing better than expected in first-quarter earnings. 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 As Bitcoin Surges Past $13K, Calls to Embrace Crypto Grow GLDM Marks One Year Anniversary Today, Leads Gold-Backed ETF Flows ROBO Global Healthcare Technology ETF Debuts on NYSE Gold And Silver Rally On Unusual Options Activity Save On Starbucks And Invest It In Starbucks READ MORE AT ETFTRENDS.COM > || Bitcoin Price Breaches $9.6K to Hit 400-Day High: Bitcoin’s price has set another new high for 2019, reaching $9,599 before retracing slightly to end Thursday’s trading.
At 18:00 UTC on June 20, the world’s largest cryptocurrency by market capitalization broke upwards on the daily chart, after being held beneath $9,348 for an extended period of time.
The move to fresh 2019 highs comes after the bitcoin price dropped to as low as $8,919 on June 18 before a surge of buying pressure pushed prices back above $9,000 within the same day.
Related:Bitcoin Price Eyes $10K After Erasing 40% of Bear Market Drop
Since then the bitcoin price has again jumped by 4 percent, rising above $9,400 around 18:28 UTC on Thursday night and then reaching over $9,500 an hour and a half later. It’s currently changing hands at $9525 as per CoinDesk’s price data.
The rally was also accompanied by a large uptick in the 24-hour trading volume, an increase of $9 billion was added overall, according to data from CoinMarketCap.
However, its “Real 10” volume – a metric that takes into account trading volume from exchanges reporting honest volume figures as identified in a report by Bitwise Asset Management – currently stands at $2.29 billion, a large difference, according to Messari.io.
Related:At-Home Crypto Miner Coinmine Now Pays Out Bitcoin
Meanwhile, the rest of the market remains relatively flat today, with only a few of the major names posting gains. Monero (XMR) and Binance Coin (BNB) are the only two in the green within the top 20 at CoinMarketCap and are both posting 4 percent growth over a 24-hour period.
What’s more, the total market capitalization has risen to a high of $292.1 billion its highest point since July 31, 2018 while the market capitalization for altcoins remains relatively unchanged, down $100 million, so it would appear BTC remains king and the altcoins will have to await their season a little longer.
Eyes are now firmly set on bitcoin’s new target at $9,650 resistance, last seen 13 months ago on April 30, 2018, pointing toward a very strong upward move beyond the $10,000 psychological price tag.
Disclosure:The author holds no cryptocurrency at the time of writing.Bitcoin imageviaShutterstock
• Lightning Labs Mobile App Gets 2,000 Downloads in 24 Hours
• Bitcoin Price Rally Stalls as Open Futures Hit Record Highs || 5 Not-So-Crazy Bitcoin Theories Revealed by Alex ‘Satoshi’ Jones: ByCCN: The man, the meme, the legend – Alex Jones has become an ingrained part of the Bitcoin subculture in recent years, thanks to several revelations made on his flagship show Infowars.
The following five “theories” offered up by Jones are controversial, conspiratorial, and, at times, contradictory. Among the supporting cast, we have Jack Dorsey, Charles Ponzi, Peter Schiff, and Joe Rogan. There’s even a cameo appearance by George Soros asNouriel Roubini.
…The World of Bitcoin According to Alex Jones (2019)
During a discussion with stockbroker and financial commentator,Peter Schiff, Jones declared Bitcoin to be little more than a Ponzi scheme. This was in the aftermath of Bitcoin’s year long decline – mere days after it struck a fifteen-month low in December 2018. The sign of a sore, salty investor?
Jones told Schiff when he rejected money to advertise cryptocurrency it was because he sensed its impending collapse:
Read the full story on CCN.com.
[Random Sample of Social Media Buzz (last 60 days)]
this is a real deal! || Bitcoin Falls Near $9,000 as US Stock Market Sees Gains https://t.co/AvpUYKfpPH || #QKC #Blockchain #BTC #ETH #blockchaintechnology #sharding https://t.co/6S1LKaZ6A7 || 「仮想通貨」→「暗号資産」に名称変更 改正資金決済法が成立 https://t.co/w2etX93nEw @engadgetjpさんから || Price Update: 1 #Bitcoin = $7,955.80 📉
#cryptocurrency $BTC source https://t.co/Rhm8c4MrrZ || Just started using Lolli 🍭 to earn bitcoin when I shop online. It’s awesome & I think you should check it out! Use my link & we’ll both earn $5 in bitcoin: https://t.co/ukFKQk0LXM via @trylolli || Shut up and take my money! How dare you say that? Even child knows this ICO is right next to the success! It's gonna be legendary! Don't miss this ICO-project! #Shato || Why the Bitcoin price defines the cryptocurrency market https://t.co/8RrDkXmVKv || #Facebook cherche à se doter de sa propre #cryptomonnaie, le #GlobalCoin💰- Nathalie Janson, professeur d'économie à #NEOMAbs https://t.co/U2pzrWv9rg #bitcoin v/ @FRANCE24 https://t.co/ukBOAJVygG || El precio promedio de bitcoin en las casas de cambio es $7660.21 (USD).
|
Trend: up || Prices: 10583.13, 10801.68, 11961.27, 11215.44, 10978.46, 11208.55, 11450.85, 12285.96, 12573.81, 12156.51
|
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 2016-11-10]
BTC Price: 715.53, BTC RSI: 61.06
Gold Price: 1265.50, Gold RSI: 41.98
Oil Price: 44.66, Oil RSI: 36.80
[Random Sample of News (last 60 days)]
Bank of England aims to revamp interbank payment system by 2020: LONDON (Reuters) - The Bank of England said on Friday it aimed to revamp the system that underpins British banking and trading in the City of London by 2020 to boost its defenses against cyber-attacks and widen the number of businesses that can use it. The BoE's Real-Time Gross Settlement (RTGS) handles transactions worth around 500 billion pounds ($659 billion) a day - equivalent to almost a third of Britain's annual economic output. It suffered a major outage in October 2014, and in June BoE Governor Mark Carney said he wanted to make it easier for smaller firms to use the system directly rather than via large incumbent banks. On Friday the BoE set out more detailed proposals and said it planned to fund the changes by temporarily increasing the charges banks pay to use the system. "The world of payments is changing rapidly, and central banks need to keep pace if we are to deliver our mission of monetary and financial stability ... whilst also enabling innovation and competition where we can," BoE executive director Andrew Hauser said. Proposed enhancements include running the system continuously, rather than just during normal working hours, and making it easier for smaller banks, brokers and payment processing firms to access the system directly. "A key enabler for delivering these changes will be a comprehensive rebuild of the RTGS technology platform. The Bank will make decisions on its resilience, including in particular its cyber defenses, in consultation with intelligence partners," the BoE said. Other goals included allowing forward-dated payments and creating an interface with the 'distributed-ledger' technology that underpins digital currencies such as Bitcoin "if/when they achieve critical mass", it said. (Reporting by David Milliken; Editing by Costas Pitas and Hugh Lawson) || 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 || Traders look for opportunities to jump into oil rally after OPEC deal: The "Fast Money" traders debated how to invest in the energy sector as oil rallied on the back of an OPEC production limit agreement on Wednesday.
Trader Guy Adami said oil prices and companies like Anadarko Petroleum(APC)could continue to see gains through the rest of the week. He said the refiners "are probably dead money for a little bit."
Trader Karen Finerman agreed and said there's probably more room to run for Anadarko.
Trader Tim Seymour said investors should look for companies with "impaired balance sheets because they're the ones that have the most to gain." He said it's probably better to avoid big integrated oil companies. Instead, investors should look at the VanEck Vectors Oil Services ETF(NYSE Arca: OIH), Seymour said.
Trader Brian Kelly also said that the oil services ETF is a good choice. He said it's "the greatest risk-reward in the oil space out there right now." He said if the ETF dips below $26, it would be a great buy. It closed at $28.10 on Wednesday.
Disclosures:
TIM SEYMOUR
Tim Seymour is long APC, AVP, BAC, BBRY, CLF, DO, DVYE, EDC, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD,MCD, 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, HD, KO, MCD, MPEL, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, and short EWG, HYG, IWM
KAREN FINERMAN
Karen Finerman is long AAL, BAC, C, DAL, 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, CME, DXJ, GDX, KBE, SLV, TLT, XLF, XLRE XOP, WTI, US Dollar UUP; he is short the euro and the Japanese yen.
GUY ADAMI
Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck. || Venezuelans are turning to bitcoin as the bolívar crumbles: Venezuelan bolivar banknotes and a U.S. dollar banknote folded as boats are seen at a fruit and vegetable store in Caracas Venezuelas currency has lost so much of its value that people have given up on counting the notesthey just weigh piles of cash . So far this year, the bolívar has lost nearly half its value compared to the dollar, while inflation has shot up as much as 15 times. Thats according to best estimates, since official data isnt available. Its brutal: Slack took out a full-page ad in the New York Times to welcome its new competitor, Microsoft When a national currency is tanking as badly as the bolívar, a stateless cryptocurrency thats gaining in value suddenly sounds pretty appealing. It looks like at least some Venezuelans are turning their bolívar into bitcoins to not only escape the spiral of devaluation in the state-issued, or fiat, currency, but to reap the profits of a bitcoin price thats been buoyant all year. Trading out of terminally weak or volatile fiat currencies for bitcoin isnt unique to Venezuela; Argentinians have been doing it for years , as the New York Times (paywall) has reported. Thinking of moving to Canada if Trump wins? Think again Trading volumes on LocalBitcoins essentially an online classifieds page for bitcoin buyers and sellers to find one anotherhave spiked in Venezuela. Trading volume has spiked recently to as high as 370 bitcoins a week, worth about $224,000 at the time. In the grand scheme of things, the bolívar-bitcoin trade is minuscule; trillions of dollars change hands on the worlds currency markets daily. Its also not an easy trade to execute, as a Venezuelan must know her way around bitcoin marketplaces and currency exchangesVenezuela has one major exchange, called Surbitcoin to cash out their bolívar. Once a Venezuelan user has bitcoin, however, she could hang onto the cryptocurrency, which might break past its highest point for the year, or hold it in US dollars or other currencies at a wallet service or on an exchange. One service, Xapo, founded by Argentinian entrepreneur Wences Casares, says its seeing a number of users in Venezuela heavily utilizing its app. Story continues Of course, caveats apply: Bitcoin exchanges and wallets are regularly hacked for billions . Xapo, incidentally, offers a vault option that involves air-gapped servers stored in secret underground locations not the worst way to wait out the bolívars downward spiral. Sign up for the Quartz Daily Brief , our free daily newsletter with the worlds most important and interesting news. More stories from Quartz: Steve Jobss worst decision was promoting Tim Cook Design has nothing to do with art: Design legend Milton Glaser dispels a universal misunderstanding || BILL GROSS: Central bankers have turned the economy into a 'casino' that threatens capitalism: south korea casino (A poker game at the Paradise Walker-hill casino in Seoul in 2007.Reuters) Bill Gross is going after central bankers ... again. The famed bond investor at Janus Capital released his monthly outlook for October on Tuesday and again compared the world's central banks to a dangerous game, this time blackjack. Gross noted the theory of a martingale system, in which a gambler in a casino will eventually win if he or she continually increases the size of his or her bets with each loss. Gross then compared the world's largest central banks the Federal Reserve, the Bank of Japan, and the European Central Bank to such a gambler, calling them "martingale gamblers without a purse." "Our financial markets have become a Vegas/Macau/Monte Carlo casino, wagering that an unlimited supply of credit generated by central banks can successfully reflate global economies and reinvigorate nominal GDP growth to lower but acceptable norms in today's highly levered world," Gross wrote in the outlook . Gross noted that central banks theoretically could continue to print money, purchase assets, and drive down bond yields until they hit their goals, just as a martingale gambler with enough money could keep raising bets amid a series of losses. "An interesting counter to my martingale characterization of central bankers is in fact that they do have an unlimited bankroll and that they can bet on the 31st, 32nd, or 'whatever it takes' roll of the dice," Gross said . "After all, their cumulative balance sheets have increased by $15 trillion+ since the Great Recession. Why not $16 trillion more and then 20 or 30?" The issue, in Gross' opinion, is that these central banks do not work in a theoretical world and that the savings erosion from negative yields will eventually cause pain for investors and damage the world's financial markets. Here's Gross (emphasis added): "I think that the latter contention is true, but central bankers cannot continue to double down bets without risking a 'black' or perhaps 'grey' swan moment in global financial markets. At some point investors leery and indeed weary of receiving negative or near zero returns on their money, may at the margin desert the standard financial complex, for higher returning or better yet, less risky alternatives . Bitcoin and privately agreed upon block chain technologies amongst a small set of global banks, are just a few examples of attempts to stabilize the value of their current assets in future purchasing power terms. Gold would be another example historic relic that it is. In any case, the current system is beginning to be challenged. " Story continues All of this is to say that central banks cannot keep rates this low forever. But given that the Fed is already hiking and the ECB has recently signaled it may bring its asset purchases to an end, many central banks have already recognized this. Gross goes on to say low-interest-rate policies threaten "capitalism itself" because capital can no longer be efficiently allocated. "Central bankers have fostered a casino like atmosphere where savers/investors are presented with a Hobson's Choice, or perhaps a more damaging Sophie's Choice of participating (or not) in markets previously beyond prior imagination," Gross concluded . "Investors/savers are now scrappin' like mongrel dogs for tidbits of return at the zero bound. This cannot end well." NOW WATCH: KRUGMAN: Obamacare was done 'on the cheap' and now it is struggling More From Business Insider Here's why Janet Yellen might quit if Donald Trump wins Federal Reserve Chair Janet Yellen forgot a key measure of the job market during testimony to Congress A GOP congressman attacked Janet Yellen for looking 'cozy' with Obama and Democrats || 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) || At your service: cyber criminals for hire to militants, EU says: THE HAGUE (Reuters) - Cybercriminals offering contract services for hire offer militant groups the means to attack Europe but such groups have yet to employ such techniques in major attacks, EU police agency Europol said on Wednesday. "There is currently little evidence to suggest that their cyber-attack capability extends beyond common website defacement," it said in its annual cybercrime threat assessment in a year marked by Islamic State violence in Europe. But the internet's criminal shadow the Darknet had potential to be exploited by militants taking advantage of computer experts offering "crime as a service", Europol added: "The availability of cybercrime tools and services, and illicit commodities (including firearms) on the Darknet, provide ample opportunities for this situation to change." Overall, the report found, existing trends in cybercrime continued to grow, with some of the European Union's member states reporting more cyber crimes than the traditional variety. "Europol is concerned about how an expanding cybercriminal community has been able to further exploit our increasing dependence on technology and the internet," its director, Rob Wainwright, said in a statement. "We have also seen a marked shift in cyber-facilitated activities relating to trafficking in human beings, terrorism and other threats." "Ransomware" - programmes which break into databases and demand payment for unlocking codes via virtual currencies such as Bitcoin - continued to expand as a problem, as did highly targeted "phishing" attacks to extract security data from senior figures - "CEO fraud" - and video streaming of child abuse. Attacks on bank cash-machine networks were also increasing, the report found, as were frauds exploiting new contactless payment card transactions, while traditional scams involving the physical presence of a card had been successfully reduced. (Reporting by Alastair Macdonald in Brussels; Editing by Jonathan Oatis) || SEC Approves Fund Liquidity Rules, Goes Easy On ETFs: WASHINGTON/NEW YORK (Reuters) – The top U.S. securities regulator on Thursday approved rules designed to protect mutual fund investors from the effects of a sudden sell-off, but it left for another day some of the dicier issues involved. The U.S. Securities and Exchange Commission's new rules take aim at liquidity issues of the $18 billion traditional mutual fund market. But the agency deferred action on a separate plan to regulate the use of derivatives in funds and carved out significant exemptions for exchange-traded funds. Thursday's action was part of a sweeping set of reforms that SEC Chair Mary Jo White has sought in the asset management industry, which includes the open-end fund market. On Thursday, she said the SEC will finish rules on how the funds use derivatives "in the near term," and is also working on annual stress-testing for large investment advisors. ‘More Targeted Approach To ETFs’ White said the rules have been strengthened since they were first proposed more than a year ago. They are "better tailored to the liquidity risks faced by different kinds of funds, with an improved classification scheme for the liquidity of fund investments and a more targeted approach to ETFs," she said before the vote. But the mutual fund and ETF industry did win some major concessions. The three members of the SEC unanimously approved a final version that exempts "in kind" exchange-traded funds, those that honor redemptions in securities instead of cash, from some of its requirements. Several, but not all, ETF issuers asked to keep their products exempt from the rules because they often meet redemption requests from large sellers by handing over stocks or other securities, rather cash. The issuers had said the proposal better fit mutual funds that face pressure to raise cash when investors head to the exits. Three Fund Classifications Under the final rules, funds would have to classify investments into the categories of highly liquid, moderately liquid, less liquid and illiquid. They also would be permitted to classify investments by asset class. The first draft had proposed stricter definitions of categorizing investments. Story continues The new version also keeps in place a requirement that funds keep on hand a certain level of assets that can be converted into cash in three days, but leaves it to the funds' boards to decide how to rectify any dip below that threshold. The original proposal had blocked funds from buying any more assets until they got back up to the minimum. That change should reassure some ETF managers who said that being prevented from buying some assets could contradict their strategies. ETFs have faced fears that they cannot manage rampant selling. On Aug. 24, 2015, heavy demand to sell U.S. ETFs pushed many of their market prices far below the value they could have fetched if they had been redeemed by the issuer. But ETFs operate differently from mutual funds, because most individuals sell them in the public market and cannot redeem them directly with the issuers. Recommended Stories Swedroe: Cross Trading Boosts Mutual Funds Returns Dave Nadig's Deep Dive On New ETF Liquidity Rules SEC Approves Fund Liquidity Rules, Goes Easy On ETFs SEC Wants To Hear From You On Bitcoin ETF 6 ETFs To Gain From Money Market Mutual Fund Reform Permalink | © Copyright 2016 ETF.com. All rights reserved || Got bitcoin? Despite early setbacks, some say it is stronger than ever: Bitcoin, the digital currency that captivated the world just three years ago before being tainted by scandals, may be making a comeback. In fact, many experts say it never really went away despite wild swings in its value. "I think the future of digital currency is bright," said Marco Santori, a partner at Pillsbury Winthrop Shaw Pittman in New York, and leader of the firm's digital currency and blockchain technology team. Blockchain refers to the virtual ledger that powers bitcoin and other cryptocurrencies. "This is probably the most important invention since the internet," Santori said in an interview with CNBC's " American Greed ." From the beginning, the concept has been alluring if not utopian. Imagine a currency that is not tied to the whims of politicians, the foibles of central bankers, or the fortunes of a particular country. Rather than relying on a government to mint a currency, users could "mine" their own bitcoin by running software contributing their own computing power to verify other bitcoin transactions. Or they could simply buy bitcoin on one of several online exchanges, investing in it like any other currency. To many, it seemed like a good bet. By the fall of 2013, with the U.S. government locked in yet another showdown over raising the debt ceiling and facing the specter of an unprecedented default, interest in virtual currencies like bitcoin peaked. The price of a single bitcoin reached a high of $1,108.80 according to Coinbase, the first licensed U.S. bitcoin exchange. But the frenzy would be short-lived. Around the time prices were reaching their high, U.S. authorities were exposing what they considered the dark side of bitcoin, busting what the FBI called "a black market bazaar for drugs and illegal services" an underground web site known as Silk Road. In a case explored in the latest episode of "American Greed," the FBI arrested the site's 29-year-old founder, Ross Ulbricht, who was eventually sentenced to life in prison (he is appealing his conviction). And the government seized more than $30 million worth of Silk Road's currency of choice: bitcoin. Story continues Meanwhile in Japan, the world's largest bitcoin exchange, Mt.Gox, was spiraling into bankruptcy amid allegations it was a conduit for money laundering. Within two months of Ulbricht's arrest, bitcoin lost nearly half its value. The price would continue to decline for more than a year, hitting a low of $203.77 at the beginning of 2015, according to Coinbase. But lately, bitcoin has been rebounding, hitting $757.77 in June. The price has leveled off since then but is still roughly three times its 2015 lows. Santori says an even better indicator of bitcoin's apparent rebound is volume. "After the Silk Road was taken down, we did see a hit in volume," he said. "It confirms that bitcoin was being used on the Silk Road and used in earnest. But volume went back up again, and now it's many, many times what it was back then." Indeed, according to the Luxembourg-based technology firm Blockchain, more than 200,000 bitcoin transactions are taking place daily now, compared with just 90,000 at the peak of the frenzy in 2013. "Digital currency today is so much farther along than it was even back in 2013 when it arguably started to reach its height and peak in sort of mass market popularity," Santori said. But bitcoin still faces challenges some old, some new. Bitcoin is no longer the only game in town. Other cryptocurrencies have sprung up, most notably ethereum. It expands on bitcoin's blockchain technology, allowing users not only to engage in basic transactions, but also to execute "smart contracts" that automatically enforce themselves. Meanwhile, the law surrounding virtual currencies remains a work in process, with conflicting court rulings about how to define them. "Are they commodities? Are they property? This is going to be a very long road for virtual currencies in general to kind of settle in to a particular legal class," Santori said. Then of course there is the issue of crime. The value of any currency depends in part on its reputation, and in that respect the Silk Road case was a huge setback for bitcoin. But Santori says that is unfair. "Are bitcoins used for crime? Well of course. But so are a lot of other currencies. So are a lot of other technologies," Santori said. Many experts agree that bitcoin is actually less useful to criminals than other currencies, because contrary to popular belief, it is not anonymous. In fact, one of the IRS agents who helped to finally unravel Silk Road says it was bitcoin that ultimately led law enforcement officials to their man. "Back then, criminals are operating under the impression that bitcoin was an untraceable currency and law enforcement wouldn't ever, maybe never, be able to figure this out," Tigran Gambaryan told "American Greed." "Well, when you fast forward it to 2014-2015, that was no longer the case." So will bitcoin and its fellow cryptocurrencies eventually replace all the money in our wallet? Not necessarily. Even some of the most enthusiastic boosters, like Santori, say that contrary to some of the early expectations, it is hard to beat the U.S. dollar. "You can complain all you want about the banks, but the U.S. dollar is strong," he said. "It's a good currency. It's a good store of value. it's a good medium of exchange. It does all the things we want money to do." But he says other countries with less stable currencies could find bitcoin to be a useful alternative a medium of exchange for them, and a source of investment elsewhere, including in the U.S. And as the technology develops, we may all have to expand our concept of the meaning of money. Follow the amazing global manhunt that finally put an end to the Silk Road on the ALL-NEW season finale of "American Greed," Thursday, Sept. 29 at 10 pm ET/PT only on CNBC Prime. More From CNBC Top News and Analysis Latest News Video Personal Finance || Bitcoin is flying after Donald Trump's victory: In May, a Juniper Research study (“Will Bitcoins Bite Back?“) predicted that the price of the digital currency bitcoin would jump if Donald Trump were elected. On Tuesday, Trump was elected, and bitcoin jumped. The currency is up nearly 3% since Tuesday night, hovering around $725.
“If Donald Trump becomes President of the US,” said Dr. Winslow Holdenin a statement with the study, “there is the very real prospect of turmoil on world markets… Bitcoin would thrive in such an environment.”
Bitcoin has in fact been on the rise all fall,not only because of the election. The price is up 19% in the last month, 23% in the last three months, and 68% in 2016. But in the next few days and perhaps months, the uncertainty after Trump’s win will likely serve as an accelerant.
Investors see bitcoin as a safe haven from fiat currencies (hence why it rises when the Chinese yuan falls), and an asset largely untied to mainstream markets. Gold typically behaves the same way, and indeed,gold shot up to $1,320 on Tuesday night as Trump closed in on the presidency, though it fell back to earth on Wednesday and is now at $1,275.
Bitcoin’s October rise has been mostly due to heightened activity in China, where the yuan is falling and the government has tightened capital controls. Bitcoin prices also spikedduring the bank shutdown in Greecelast year.
Juniper Research says the Brexit vote, back in June, is still having an impact as well: “The ongoing ramifications around Brexit are also likely to act as an additional spur for higher activity levels.”
IfBrexit helped contribute to a bitcoin bump, then Trump’s win is likely to do it, too. Many were quick to compare the surprising result of the US election to the EU referendum result. Trump, in the days before the election, told crowds that his win would be like “Brexit plus plus plus,” and nicknamed himself “Mr. Brexit.”
While Trump and bitcoin might seem to have something in common (Coin Telegraphmade the case that Trump would eventually cozy up to the coin), his campaign never accepted donations in bitcoin. Hillary Clinton’s campaign considered accepting donations in bitcoin, aleaked email thread revealed,but John Podesta was more intrigued by the digital currency Ven, writing that bitcoin suffers from a “libertarian Ayn Rand schtick.” Sen. Rand Paul and Gov. Gary Johnson were the only two presidential candidates to accept bitcoin.
It doesn’t matter now: Trump won, and bitcoin benefited without his support. The coin doesn’t need Trump to champion it in order to succeed.
The defining word of this US election is the same word that defined the Brexit vote: “uncertainty.” As the Juniper Research report noted, bitcoin’s price rose in the weeks leading up to the Brexit vote, then fell a little bit just before the vote when the outcome looked clear, then spiked when the outcome was, in fact, a big surprise. Expect the same to happen after Trump’s win.
—
Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at@readDanwrite.
Read more:
The latest bitcoin price surge isn’t just about Brexit
Here’s where big banks stand on blockchain
Why 21.co is the most exciting bitcoin company right now
Coinbase is more bullish on bitcoin than ever
[Random Sample of Social Media Buzz (last 60 days)]
$648.34 at 20:45 UTC [24h Range: $647.19 - $656.00 Volume: 2991 BTC] || Average Bitcoin market price is: USD 697.00, EUR 637.48 || 1 #bitcoin = $12099.00 MXN | $653.16 USD #BitAPeso 1 USD = 18.52MXN http://www.bitapeso.com || 1 #bitcoin = $15300.00 MXN | $739.78 USD #BitAPeso 1 USD = 20.68MXN http://www.bitapeso.com || Current value of DOGE in BTC: BTER: 0.00000039 -- Volume: 21127233.289 Today's trend: down at 09/18/16 00:55 || 12Oct2016 18:00 UTC #Bitcoin live spots - #XBTUSD @ 639.97750 $ - #XBTEUR @ 580.51000 € || In the last 10 mins, there were arb opps spanning 10 exchange pair(s), yielding profits ranging between $0.05 and $159.51 #bitcoin #btc || #ChainCoin #CHC $0.000083 (-0.32%) 0.00000013 BTC (0.00%) || 13th Gemini Auction: 1,663 BTC for $613.00 USD: I still keep a log of this at http://www.geminiauctions.com ... http://cur.lv/12t5h6 #bitcoin || One Bitcoin now worth $627.99@bitstamp. High $630.85. Low $625.00. Market Cap $10.010 Billion #bitcoin pic.twitter.com/YyWjSKOrvH
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Trend: up || Prices: 716.41, 705.05, 702.03, 705.02, 711.62, 744.20, 740.98, 751.59, 751.62, 731.03
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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 2022-11-14]
BTC Price: 16618.20, BTC RSI: 35.22
Gold Price: 1773.60, Gold RSI: 72.15
Oil Price: 85.87, Oil RSI: 46.87
[Random Sample of News (last 60 days)]
Chiles Boric Pitches 4.2% Public Spending Hike in 2023 Budget: (Bloomberg) -- Chile plans to raise fiscal spending by 4.2% next year, President Gabriel Boric said on Thursday, as the administration faces pressure to improve social services without stoking above-target inflation. Most Read from Bloomberg MacKenzie Scott Files for Divorce From Science Teacher Husband Top Apple Executive Is Leaving After Making Crude Remarks in TikTok Video Meta to Cut Headcount for First Time, Slash Budgets Across Teams Marjorie Taylor Greenes Husband Files for Divorce After 27 Years Putin Says Annexation Is Forever, Defends Ukraine Land Grab Next years budget will focus on promoting economic growth, public safety and social security, Boric said in a televised speech. He said that the increase will not fuel consumer prices but didnt specify a target for next years fiscal deficit. Boric is rolling out his first budget proposal after coming to office in March as annual inflation runs at a three-decade high and his support slumps. The former student protest leader won last years election on pledges to bolster the governments role in providing basic services and attack inequality. At the same time, he has vowed to keep debt levels in check and assure that spending measures are sustainable. This years budget, presented by the prior Administration of Sebastian Pinera, reduced spending by 24% this year as extraordinary stimulus measures to counter the pandemic were phased out. Read more: Leftist Leader Bucks Emerging-Market Trend by Balancing Budget The budget that we will present tomorrow will have a countercyclical effect, Boric said. In a context of lower tax revenues due to the adjustment of the economy, we will increase spending, ensuring the continuity of good public policies and mobilizing a significant amount of resources for economic recovery. The budget proposal has a maximum of 60 days to be debated and voted by both houses of Chiles congress after its formally submitted to the legislature. The central bank expects the economy to contract between 0.5% and 1.5% next year as domestic demand and total investments drop. The bank also expects annual to slow to 3.3% by December 2023 from 12% at the end of 2022. Economists surveyed by Bloomberg see inflation of 6.8% for the end of next year. Story continues Other key points of the budget, according to a document from the Finance Ministry: Spending in public investment to grow 5.5% year-on-year The budget will allocate 1.6 trillion pesos ($1.7 billion) to infrastructure programs Spending in public safety to grow 4.4% year-on-year Government to allocate 38 billion pesos to fighting organized crime and increase police budget by 25 billion pesos Social security spending to grow 8% year-on-year with a goal of providing universal guaranteed pensions to almost 2.3 million people Most Read from Bloomberg Businessweek The Unstoppable Dollar Is Wreaking Havoc Everywhere But America Jay Powell Needs Investors to Lose Money Twitter Is in This Mess Because Jack Dorsey Was Too Busy Being a Bitcoin Influencer Would You Invest $10,000 in a Friends Startup? Are You Friends If You Dont? The World Sees Brazils Election as a Climate Flashpoint. Brazilians Have Other Concerns ©2022 Bloomberg L.P. || Rumble May Stumble, But Give RUM Stock a Chance: Rumble (NASDAQ: RUM ) stock is undergoing an important transition as the company is now directly traded on the Nasdaq exchange. Rumbles reverse merger with former shell company CF Acquisition Corp. VI means that investors can own a stake in the content streaming platform. Moreover, Rumble is getting a sizable capital infusion from this transaction, so its platform can grow quickly with in-demand content. Achieving this milestone was a lengthy process. One of the hurdles to clear was getting CF Acquisition VIs shareholders to approve the business combination with Rumble. This finally happened on Sept. 15. Now, CFVI stock is gone no big deal, as CF Acquisition was merely a blank-check company. So now, investors have to consider whether theyre really ready to wager on Rumble, a somewhat controversial but promising platform. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Whats Happening With RUM Stock? Dont even bother looking for CFVI stock anymore, because its all about RUM stock now. The shares surged from $13 to $16 on that first day, Sept. 19, but recently fell back to $13. Theres a lesson to be learned or reviewed here: Dont buy stocks on hype. Instead, consider getting in when most traders arent paying much attention to a stock. Of course, you wont want to buy RUM stock just because the price came down. Youll need to really think about the company, Rumble, and its focus on the First Amendment and conservative-leaning values. Even the chosen ticker symbol is an expression of constitutional values. As Rumbles press release explains, Without rum, the colonists may never have fought to win the freedom that Americans enjoy today the very freedom that Rumble exists to protect. Rumble Gets a Sizable Injection of Cash As a result of the reverse merger transaction, Rumble stands to receive roughly $400 million in gross proceeds. Around $300 million of that is to be held in a trust account. Rumble will have to pay transaction expenses, but what will the platform do with the net proceeds? Importantly, the funds will be used to attract new content creators to the Rumble and Locals platforms. This is exactly what the investors should want to hear. Content consumers want to see familiar faces. Could Rumble woo popular podcaster Joe Rogan to its platform in the near future? What else will Rumble do with those hundreds of millions of dollars? Evidently, it will continue to build out Rumbles independent infrastructure, expand Rumbles teams, begin robust marketing of the platform and services, finance future acquisitions, and for other general corporate purposes. Story continues Thats a mouthful, but at least were getting a general sketch of Rumbles planned build-out. The robust marketing is to be expected, but the future acquisitions part actually surprised me. What does Rumble have in mind here? I guess well have to wait and see! What You Can Do Now RUM stock will be volatile; that first trading day was a case in point. The share price will sway to and fro, but this doesnt mean you should get shaken out of the trade. Instead of panic-selling, consider holding on to your Rumble shares for the long term. If youre on board with this fast-growing, free-speech-obsessed platform, then hang on and lets see what Rumble does next. On the date of publication, David Moadel 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 . David Moadel has provided compelling content and crossed the occasional line on behalf of Motley Fool, Crush the Street, Market Realist, TalkMarkets, TipRanks, Benzinga, and (of course) InvestorPlace.com. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets. More From InvestorPlace Buy This $5 Stock BEFORE This Apple Project Goes Live The Best $1 Investment You Can Make Today Early Bitcoin Millionaire Reveals His Next Big Crypto Trade On Air It doesnt matter if you have $500 or $5 million. Do this now. The post Rumble May Stumble, But Give RUM Stock a Chance appeared first on InvestorPlace . View comments || Iran’s Deadly Protests Unite a Nation Behind an Old Struggle: (Bloomberg) -- Most Read from Bloomberg Twitter Now Asks Some Fired Workers to Please Come Back Houston Mogul’s $75 Million Win on Astros Hits Caesars Hardest Elon Musk Walks Back on Twitter Job Cuts, Blue Checks in Second Week Ukraine Latest: US and Russia Discussed Containing War, WSJ Says COP27 Latest: Coal Deal Provides Counterpoint to Record Demand It took a drip-feed of information over several hours before Kurdish activist Chiako Fatehi discovered it was his older brother Ramin who had died in the Iranian jail cell. At around 9 p.m. on Oct. 21, a family member received a call from an unknown number and was told to report to a Ministry of Intelligence detention center in Sanandaj, the capital of Iran’s Kurdistan province, according to Fatehi. They were shown into a room where they were told to identify a dead man. Ramin, 46, had been arrested at a friend’s house. “They said he killed himself in his cell while he was in solitary confinement,” Fatehi, 36, said by phone from Sulaymaniyah in Iraq, where he’s lived in exile for the past eight years. “It didn’t make any sense.” Like many Kurds living in Iran’s western provinces, the Fatehi family are no strangers to the scrutiny of the security forces. But the 10 million or so minority has found itself at the center of one of the biggest anti-government uprisings in Iran since the 1979 Islamic Revolution following the death in police custody of Mahsa Amini, a 22-year-old Kurdish-Iranian woman. Making up a little over a tenth of Iran’s population, Kurdish concerns about discrimination and suppression have been confined to the political margins. Yet it’s the struggles of the Kurds along with women that have now galvanized dissent across ethnic and social lines. That sets the current demonstrations apart from previous protests and poses a more complicated challenge to the regime and its security apparatus. Women have always been treated as though they are a minority or a second-class gender, on the margins, said Fatemeh Karimi, president of the Paris-based Kurdistan Human Rights Network. Whether it's Kurds or women “it’s the minorities that started these protests and set its foundations,” she said. “We see solidarity with minorities. Kurds have always been portrayed as being separatists and governments have always exploited this, but they haven’t succeeded this time.”How Iran’s Hijab Protests Stoked Broader Public Anger: QuickTake Story continues Despite the police crackdown, the protests haven’t subsided. On Oct. 26, a mourning ceremony for Amini, who was known to family and friends by her Kurdish name Zhina, prompted a surge in demonstrations across the country. Thousands of businesses went on strike, students walked out and protests even shook Tehran’s Grand Bazaar, a traditional linchpin of support for the clerical establishment. Three days later, 32-year-old Fereshteh Ahmadi was shot dead by security forces in the Kurdish city of Mahabad while watching protests from the rooftop of her home, according to the Hengaw Organization of Human Rights. Amini was arrested on Sept. 13 for allegedly flouting Islamic dress codes for women. She died three days later after collapsing into a coma at the police station. Iranian officials have said she had underlying health conditions and probably suffered heart failure, denying any wrongdoing. Her family said Amini didn’t have any health issues and suspect she may have been beaten by the police.. The nationwide protests started at Amini’s funeral on Sept. 17 in her hometown of Saghez in Kurdistan province. As events escalated, officials framed them as riots incited by outside actors, labelling demonstrators as “terrorists” and “anti-revolutionaries.” The government has said nobody has been killed by security forces. They also accused Kurdish political parties and militant groups across the border in Iraq of organizing the unrest. The Islamic Revolutionary Guard Corps, or IRGC, which has been controlling security in Iran’s Kurdish provinces since 2016, launched artillery and drone strikes on Iraq’s Kurdistan region, killing at least a dozen people.Some 60 people, including 11 children, have been killed in Iran’s Kurdish provinces alone since Amini’s funeral, according to Hengaw, which was founded in 2016 and monitors the protests from Europe and Iraq. The group says at least 4,000 people have been arrested in that time and has so far managed to identify 922 of them, including 74 children. Protests have also galvanized minorities in other restive border provinces. In southeast Sistan-Baluchestan, where most of the population is ethnically Baluch and Sunni, more than 100 people have died. Some 82 people were killed in the city of Zahedan by security forces on Sept. 30 and at least a further 10 were killed on Nov. 4, according to London-based Amnesty International. In both Iran's Kurdish provinces and in Sistan-Baluchestan, Hengaw and Amnesty said that security forces have been using live rounds against protesters in contrast to cities like Tehran, where police tend to use shotgun pellets. Iran’s Students Protest Despite Warning from Revolutionary Guard “From the day of the burial, it got really busy with protests in Sanandaj, people were everywhere, business went on strike,” said Mohammad, a 33-year-old software consultant who attended protests in the city, said, referring to Amini’s funeral. He didn’t want to be identified by his full name because of fear of reprisals. “We heard forces were being sent here from all over the country.” The Kurds are one of the biggest stateless nationalities or ethnic groups in the world. Numbering up to 45 million, they played a critical role in defeating Islamic State in Iraq and Syria, where they have secured some autonomy. In Turkey, they have been increasing their political influence while the government continues a decades-long campaign against Kurdish militants. In Iran, Kurds are integrated more socially than politically. Various governments over the decades have viewed Kurdish regions with suspicion, accusing activists of separatism and seeking to overthrow the leadership. Some, though, have publicly embraced Kurdish culture for political gains and to promote national cohesion, but Kurdish political parties and activities remain banned. A coalition led by the exiled Komala Party of Iranian Kurdistan says it wants to replace the Islamic Republic with a federal system where ethnic groups can have their own local assemblies and teach their languages in schools. Iran Indicts Hundreds as Students and Strikes Sustain Protests Some activists see the protests as an extension of a long struggle, with Amini’s death a symbol of the state’s policies toward women and minorities. The Kurdish slogan “Women, Life, Freedom” has reverberated through towns and cities in Iran. “For 43 years, the state has used propaganda to portray Kurds as violent separatists and we are now witnessing a sort of unity to an extent that we’ve never seen before,” said Abdullah Mohtadi, an activist and secretary general of the Komala Party. “Kurds have never felt so supported by other Iranians. We have a common pain.” Like the PKK in Turkey, Iran officially designates groups like Komala as terrorist organizations. Scores of Kurdish political activists are in prison and many have been executed, despite protests from international rights groups and foreign governments. Tension on the Iran-Iraq border has escalated significantly since 2016, according to Hiwa Bahrami, spokesman for the Democratic Party of Iranian Kurdistan. That was after a fresh mobilization of Peshmerga militias on the border with Iraq. The IRGC’s Sept. 28 attack was a direct response to protests in Kurdistan province and targeted Komala party camps and bases. Iran’s military has amassed more troops on its western border since then, carrying out drills over two weeks near the northwestern border with Azerbaijan and the city of Urmia, both areas with large Kurdish populations. That would be a low-cost way for Iran to show it can defend its borders against foreign threats at a time of domestic crisis, according to Abdolrasool Divsallar, visiting professor at the Milan-based Università Cattolica del Sacro Cuore. “Ultimately, Iran thinks that by driving ethnic divisions it can take advantage of and build a ‘rally around the flag’ response and promote nationalism and then say that it’s forced to react under that pretext,” Divsallar said. “Some sort of scarecrow is useful for Iran in a crisis situation.” For now, it’s the protesters who are rallying as Iranian security forces target alleged activists. But according to Fatehi, his brother hadn’t even taken part in the demonstrations when he was arrested on Oct. 13. He had been resting at a friend’s home in Saghez after making a delivery and getting ready to drive back to Sanandaj in the afternoon, Fatehi said. He says several contacts in the city told him that Ramin died because he had been beaten severely around the head while detained. Two other Fatehi siblings were arrested a day later, on Oct. 14, according to Chiako and the Hengaw Kurdish rights group. His sister Rada, 48, was apprehended at her home and another brother, 41-year-old Wurya, was taken from their father’s home, both in Sanandaj. Dozens of phone calls and questions to the intelligence ministry and police in Sanandaj about their welfare have yielded nothing. They fear the only information they’re likely to get will be another late night phone call ordering them to identify a dead body. “This revolution that’s happening in Iran right now isn’t about the Kurdish region or opposition groups, it’s all about people who just want their rights,” Fatehi said. “It needed a trigger — all the grievances and motives were already there — and that trigger was Zhina Amini’s death.” --With assistance from Sylvia Westall and Selcan Hacaoglu. Most Read from Bloomberg Businessweek Seizing a Russian Superyacht Is Much More Complicated Than You Think El Salvador’s $300 Million Bitcoin ‘Revolution’ Is Failing Miserably US Housing Hit by Spiraling Mortgage Rates as Inflation Persists Adobe Is Trying to Spend $20 Billion to Buy Back Its Swagger Yeezy Roller Coaster Ended With Two-Minute Phone Call at Adidas ©2022 Bloomberg L.P. || 7 Undervalued Stock Picks to Beat the September Market Slump: Although the tail end of the third quarter brought some unwanted volatility to the market, forward-thinking investors might want to use this time to strategize undervalued stock picks. One of the primary benefits of this approach is that such securities may not have that much further to correct. That would appeal to risk-averse investors who might get rattled at the sight of steep corrections.
Another factor to consider for undervalued stock picks to buy is that the underlying businesses tend to be overlooked. Even if they are tied to relevant industries, some companies simply don’t attract Wall Street’s attention. However, astute market participants can use this dynamic to their advantage, acquiring positions ahead of the crowd.
While investors don’t like to see their portfolios stained with crimson ink, the silver lining is you don’t have to take the corrections lying down. Below are undervalued stock picks to buy to help get back on the right track.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
[{"MRK": "BHP", "Merck": "BHP Group", "$86.93": "$50.97"}, {"MRK": "VALE", "Merck": "Vale", "$86.93": "$12.84"}, {"MRK": "GM", "Merck": "General Motors", "$86.93": "$39.96"}, {"MRK": "C", "Merck": "Citigroup", "$86.93": "$47.78"}, {"MRK": "NOC", "Merck": "Northrop Grumman", "$86.93": "$486.17"}, {"MRK": "MU", "Merck": "Micron Technology", "$86.93": "$52.35"}]
Source: Atmosphere1 / Shutterstock.com
Arguably one of the most compelling ideas among undervalued stock picks, pharmaceutical giantMerck(NYSE:MRK) features an interesting narrative now that fears of the coronavirus pandemic are fading. On paper, MRK stock presents an enticing technical profile. On a year-to-date basis, shares are up 13%. For context, the benchmarkS&P 500index is down nearly 19% during the same period.
Statistically,Gurufocuslabels MRK as“modestly undervalued.”Primarily, the company features a forward price-to-earnings (P/E) ratio of 11.7 times. This ratio compares favorably to the median forward P/E ratio of the drug manufacturing industry, which stands at more than 14 times. Moreover, Merck features robust profitability metrics. A highlight includes net margin of 29%. In contrast, the industry median is only 3.85%.
Fundamentally, Merck appeals to those seeking undervalued stock picks because the pharmaceutical world can now focus on non-Covid-19 related solutions. For example, Merck’s cancer drug Keytruda should generate more demand broadly as Covid infections fears subside, which previously prevented many people fromseeking medical services.
Source: T. Schneider / Shutterstock
If you prefer a dash of cynicism in your undervalued stock picks, you might want to considerBHP Group(NYSE:BHP). An Australian multinational mining, metals and natural gas petroleum company, BHP brings many relevant resources to the table. Among them stand copper, nickel and potash. The latter resource gives away the reason I included BHP on this list.
First, let’s get some key stats out of the way. BHP stock represents a comparatively solid performer so far this year. Shares have “only” slipped 6%. Though nothing to write home about on absolute basis, BHP significantly outperforms the S&P 500.
Moreover,Gurufocusconsiders BHP to be“modestly undervalued.”Currently, its P/E ratio stands at 4.4 times, well below the industry median of 10.9 times. As well, the company features a price-to-free-cash-flow ratio of 5.2 times, below the industry median 11.7 times.
However, it’s all about the potash for me. Because of Russia’s invasion of Ukraine, a massive source of global potash suppliessuffered disruption. That’s a net negative for the world, but a cynical positive for potash producers like BHP.
Source: rafapress / Shutterstock.com
A name that investors arguably should put on their radar, whether they specifically want undervalued stock picks or not, is Brazilian metals and mining firmVale(NYSE:VALE). More significantly, the company represents the world’s largest producer of iron ore and nickel. Again, with the last commodity, you probably see where I’m about to go.
Still, let’s discuss the “paper” reasons why analysts consider VALE to be one of the best undervalued stock picks. According toGurufocus,the mining firm is“modestly undervalued.”The company’s forward P/E ratio stands at 4.1 times. That’s substantially below the metals and mining industry’s median forward P/E ratio of 9.6 times. As well, the company commands excellent longer-term growth and profitability metrics. A key highlight is its net margin, which runs at 42.2%.
Now, let’s get into the fundamentals. According toCNBC, the cathodes used in modern electric vehicle (EV) batteries areat least 60% nickel. As EVs become further integrated into mainstream society, nickel demand will soar. Thus, VALE being down 7.3% so far this year is probably a great discount.
Source: Katherine Welles / Shutterstock.com
Speaking of EVs, we’ve got to talk aboutGeneral Motors(NYSE:GM). An American automotive icon, General Motors is doing a lot of things right. First, the company aggressively transitioned to the electrification of mobility. Therefore, it’s bringing back a lot of combustion classics like theHummer, but in EV form.
The other factor to consider is that GM refuses to abandon traditional gearheads. With the strong debut of the eighth-generation Corvette, the automaker appeals to several demographic cohorts. Kudos to them, honestly.
On paper, GM is down 35% this year, which doesn’t reflect the positives management brings to the table. Just for that reason, you may want to consider shares as one of the undervalued stock picks.
To be fair,Gurufocuslabels GM as“fairly valued.”Still, I’d like to point out the company’s forward P/E ratio stands at 6.4 times. In contrast, the vehicle industry median is 9.2 times. Ultimately, given GM is an iconic brand, consumers will likely gravitate toward its EVs instead of many other upstart products.
Source: Willy Barton / Shutterstock.com
One of the biggest financial institutions both domestically and internationally,Citigroup(NYSE:C) presents an interesting profile for undervalued stock picks. With so many changes occurring in the global markets and the world economy, people require excellent guidance. Citigroup’s wealth management arm could provide just that.
In the technical charts, C stock appears undervalued relative to the S&P 500. Since the start of the year, Citigroup shares lost 24%. To be clear, that’s for a reason. With economic woes impacting myriad industries, the financial segment suffered from the implied commercial activity loss.
On paper,Gurufocusconsiders Citigroup to be“modestly undervalued.”The company’s P/E ratio stands at 6.1 times, well below the industry median of 9.5 times. Further, Citi’s forward P/E ratio rates as 6.7 times, below the 8.4-times sector median.
Fundamentally, though, the contrarian bullish case for Citigroup centers on deflation. Anybody can guide investors to make money during an inflationary period because the purchasing power of the dollar declines; therefore, investors must do something with their funds.
However, deflation provides a guaranteed positive return just by doing nothing. Thus, it’s much harder to provide profitable guidance, which is where Citigroup’s experts should come in.
Source: viper-zero / Shutterstock.com
One of the world’s biggest defense contractors,Northrop Grumman(NYSE:NOC) features obvious implications with the war in Ukraine. When Russia made the decision to invade its neighbor, both U.S. and European forces rushed in to help Ukraine.
Now, on paper, NOC doesn’t appear to be an undervalued stock pick. Since the start of the year, Northrop shares have gained 25% of market value. That’s well above the major indices, which are deep in the red. In addition,Gurufocuslabels NOC stock as“modestly overvalued.”
Still, it’s important to point out the company runs a P/E ratio of 13.6 times, below the sector median of 28.3 times. As well, Northrop features excellent longer-term growth and profitability metrics.
However, the fundamentals really do it for me. Along with Northropproviding supportto Ukrainian resistance fighters, the massive uncertainties in Russia could lead to economic problems. That could translate to massive power gaps in areas the former Soviet Union controlled or influenced. In other words, it’s going to be busy times for defense contractors.
Source: Charles Knowles / Shutterstock.com
Admittedly,Micron Technology(NASDAQ:MU) represents the highest-risk idea featured on this list of undervalued stock picks. Nevertheless, it’s hard to imagine its semiconductor specialty of data storage solutions will be deflated indefinitely. However, that’s the implication of the company’s market performance.
On a year-to-date basis, MU stock is staring at a staggering 45% loss. For context, as terrible as it is, theNasdaqis “only” down 27% during the same period. However, for the extreme speculator, MU could be appealing. Again, broad demand for data storage seems to only go in one direction: up.
On paper,Gurufocusconsiders Micron to be“significantly undervalued.”That’s more like it. The tech firm features a forward P/E ratio of 6.1 times. That’s well below the industry median of 15 times. In addition, Micron rates highly against longer-term comparisons for growth and profitability.
If you have some funds earmarked for speculation lying around, MU could be an intriguing idea among undervalued stock picks.
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.
A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.
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The post7 Undervalued Stock Picks to Beat the September Market Slumpappeared first onInvestorPlace. || First Mover Asia: Bitcoin Holds Strong Over $19K; Why Is the Dollar Dominating?: Good morning. Here’s what’s happening: Prices: Bitcoin, ether and other major altcoins surge. Insights: The dollar's recent strength in the face of the U.S.'s steep inflation seems illogical, but is it? (CoinDesk columnist David Z. Morris) Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis. And sign up for First Mover , our daily newsletter putting the latest moves in crypto markets in context. Prices ● Bitcoin ( BTC ): $19,417 +4.4% ● Ether ( ETH ): $1,338 +4.8% ● CoinDesk Market Index ( CMI ): $960 +2.5% ● S&P 500 daily close: 3,719.04 +2.0% ● Gold: $1,662 per troy ounce +2.4% ● Ten-year Treasury yield daily close: 3.71% −0.3 Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found at coindesk.com/indices. Bitcoin Remains Resilient Amid Macroeconomic Uncertainty By James Rubin Say this for bitcoin, it's resilient. Three weeks ago, before the U.S. Federal Reserve raised interest rates a hawkish 75 basis points, before bond yields rose to 15-year highs and the British pound tanked, before the Dow Jones Industrial Average sank into bear market territory, Russia escalated its unprovoked invasion of Ukraine and the prospects of a severe global recession increased exponentially, the largest cryptocurrency by market capitalization was trading above $19,000. On Wednesday, BTC was still trading comfortably above $19,000, up more than 4% over the past 24 hours and seemingly impervious to the increasingly volatile macroeconomic environment. How long bitcoin holds above this threshold remains uncertain as is its previously considered role as an inflation hedge. "There are a few things that we don't know," Defiance ETFs co-founder and CEO Sylvia Jablonski told CoinDesk TV's "First Mover" program. "We thought crypto would be this great inflation hedge. It would be the new gold and that didn't play out. It turned out crypto was highly correlated with equities, particularly with high growth stocks, Nasdaq." Story continues Ether showed similar toughness as it hovered near $1,340, up nearly 5% from a day earlier. Other major cryptos spent the day solidly in the green, with BNB and XRP recently up close to 5% and 4%, respectively, although the CoinDesk Market Index (CMI) , a broad-based market index that measures performance across a basket of cryptocurrencies, was roughly flat. Still, crypto price gains tracked equity indexes yet again, with the tech-heavy Nasdaq, S&P 500 and Dow Jones Industrial Average (DJIA) all closing up about 2%. The S&P and DJIA had plummeted the previous six days with the latter falling into bear market territory, meaning that it is down at least 20% from its previous peak. Asian indexes were largely up in early Thursday trading with the Hang Seng recently rising about 1.8%. Investors seemed buoyed by the Bank of England (BOE) announcement that would it would purchase U.K. government bonds to address a liquidity crunch in the market. The move also spurred hopes that other central banks might soon abandon their current aggressive monetary policies through which they hope to tame inflation. Early in the day, BOE Deputy Governor Jon Cunliffe told an audience at the Operations, Post Trade, Technology and Innovation Conference in London that financial regulations should be extended to crypto before the industry becomes large enough to potentially threaten broader financial stability. Cunliffe has previously said that regulators should accelerate efforts to establish clear rules for crypto. And in the ongoing saga of Terraform Labs co-founder Do Kwon, the company said South Korean prosecutors overextended their authority in seeking a warrant for his arrest, according to a report in the Wall Street Journal , citing a statement sent by Terraform. Defiance ETFs' Jablonski said that cryptos' current pricing may offer a buying opportunity, albeit in the long term. "I'm definitely feeling the headwinds in my face every time I turn on the news on a daily basis, but ... crypto has been oversold since August." She added: "It's not a buying opportunity if you're looking for returns in the next two months. But if you have a holding period of 12, 18 months out, I'm more than happy to dip in here. I'm going to be very happy in a couple of years, and I'm going to feel a lot of pain if I look at it on a daily basis." Biggest Gainers Asset Ticker Returns DACS Sector Loopring LRC +7.8% Smart Contract Platform Solana SOL +5.3% Smart Contract Platform Ethereum ETH +4.9% Smart Contract Platform Biggest Losers Asset Ticker Returns DACS Sector Chainlink LINK −3.1% Computing Cosmos ATOM −2.0% Smart Contract Platform Insights Why Is the Dollar Crushing Global Currencies if Inflation Is so Bad? By David Z. Morris While the declining domestic buying power of a dollar dominates headlines in the United States, American inflation is having a surprising impact around the globe: Nearly every major currency has fallen dramatically against the dollar over the past six months. That seems like a challenge to the relentless focus on monetary supply that is widespread among cryptocurrency adherents. China’s yuan has lost 12% against the dollar since April, and traditionally stronger currencies including the euro and yen have seen similar drops. Controversial financial decisions by new U.K. Prime Minister Liz Truss have driven the British pound down even more sharply in recent days, for a cumulative 18% drop since April. This article is excerpted from The Node, CoinDesk's daily roundup of the most pivotal stories in blockchain and crypto news. You can subscribe to get the full newsletter here . These moves may be particularly surprising for those whose financial thinking has been shaped by discussions in cryptocurrency circles. You might argue the tail has wagged the dog on crypto’s understanding of inflation: Bitcoin’s fixed supply has been aggressively marketed as a long-term inflation hedge, leading to an emphasis on so-called monetary inflation. Monetary inflation occurs when more monetary units compete for the same amount of real-world goods, driving prices up. Or, as a coronavirus pandemic-era meme elegantly simplified it, “money printer go brrrrr.” But if the money supply were the beginning and end of the American inflation story, the dollar should be losing value against world currencies. The U.S., after all, had the second-largest fiscal response to the COVID-19 crisis of any industrialized nation, much of it debt financed. But if America has been borrowing and printing more money than Japan or China, shouldn’t the yen and yuan be gaining relative value on global markets? ... Read more: Why Is the Dollar Crushing Global Currencies if Inflation Is so Bad? Important events Circle Converge22 (San Francisco) Token2049 (Singapore) Smartcon Web3 Chainlink Conference (New York) CoinDesk TV In case you missed it, here is the most recent episode of "First Mover" on CoinDesk TV : Bitcoin Tumbles Below $20K in Volatile Trading; Future of Web3 Education Bitcoin has tumbled back down to around $19,000 again after crossing $20,000 yesterday. "First Mover" discussed the crypto markets with Defiance ETFs CEO Sylvia Jablonski. Education Week continued with guest Alex Dwek of Nas Company. Plus, CoinDesk's Nikhilesh De explained the unusual case of the CFTC serving papers to a decentralized autonomous organization (DAO) via an online members forum. Headlines Steve Cohen-Backed Firm Invests $10M in Web3 Game Marketplace AQUA: The hedge fund billionaire has invested in crypto projects since 2018. Bitcoin Off Lows as Bank of England's Bond Market Intervention Raises Hopes for Fed Pivot: Fed pivot talk gathers steam after BOE promise to buy long-dated gilts. FTX Ventures, Jump Crypto Lead $20M Fundraise for Executable NFT Wallet: The wallet, a forthcoming project from Solana developer Coral, will give users ownership of application code. India's Enforcement Directorate Freezes $1.5M in Bitcoin in Gaming App E-nuggets Case: The agency has been conducting several search operations related to an "illegal loan apps" scam with China links. Crypto VC Pantera Capital Looks to Raise $1.25B for Second Blockchain Fund: Report: Founder Dan Morehead said at a conference in Singapore that the fund will invest in digital tokens and equity || 7 Semiconductor Stocks to Buy and Hold Forever: Once considered to be a cash cow for investors, finding semiconductor stocks to buy and hold can be daunting these days.
TheiShares Semiconductor ETF(NASDAQ:SOXX), an exchange traded fund that holds 30 leading semiconductor stocks, is down more than 35% so far this year as achip shortagecontinues to stress the industry.
But if you’re a believer in technology and realize that semiconductors will continue to be in high demand, such a drop is pretty interesting for long-term investors.
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Many of these semiconductor stocks to buy and hold are on sale, and investors who buy low can see their returns supersized if they play their cards right.
There are some indications that the chip shortage could begin to ease. TheCHIPS and Science Act, passed by Congress and signed into law this year, is designed to increase semiconductor research and production in the U.S. Already, companies are making plans toexpand their manufacturing basesin the U.S.
Where does that leave us? It’s time to go bargain shopping for semiconductor stocks to buy and hold.
ThePortfolio Gradercan be a great tool to help us find the best semiconductor stocks to buy now. ThePortfolio Graderis my free tool that evaluates and grades stocks based on qualitative metrics and buying momentum.
[{"FSLR": "PEGY", "First Solar": "Pineapple Energy", "$155.09": "$2.55"}, {"FSLR": "ON", "First Solar": "ON Semiconductor", "$155.09": "$7.31"}, {"FSLR": "AMKR", "First Solar": "Amkor Technology", "$155.09": "$23.50"}, {"FSLR": "AVGO", "First Solar": "Broadcom", "$155.09": "$492.65"}, {"FSLR": "ENPH", "First Solar": "Enphase Energy", "$155.09": "$295.39"}, {"FSLR": "PI", "First Solar": "Inpinj", "$155.09": "$112.67"}]
Source: IgorGolovniov / Shutterstock.com
When you think aboutFirst Solar(NASDAQ:FSLR), you probably think first about solar power and not semiconductors. That’s perfectly reasonable. FSLR is one of the most well-known solar stocks out there.
It’s also one of the best-performing stocks of the year. So far in 2022, FSLR stock is up by more than 70%, with plenty of reasons to think the trend will continue.
The company announced that it will invest up to$1.2 billion to scale production of photovoltaic (PV) solar modules, which could allow it to increase its power capabilities by more than 10 gigawatts by 2025.
The company says each of those modules features a layer of Cadmium Telluride semiconductor that’sthinner than a human hair. And it’s researching more ways to make products with an even thinner semiconductor layer.
The potential here is clear, particularly with the emergency of the Inflation Reduction Act in the U.S. that restores a tax credit for U.S. manufacturers that start production of PV projects before 2025. FSLR stock has a “B” rating in thePortfolio Grader.
Source: Shutterstock
This is one of the smallest and least-known stocks on this list. But never fear – even thoughPineapple Energy(NASDAQ:PEGY) is a true penny stock at fewer than $3 per share, and even though it has a market capitalization of barely $20 million, there are plenty of reasons to be bullish about this energy company.
While Pineapple’s core market is in Hawaii, the company actually has Minnesota roots. Communications Systems, which previously traded on the Nasdaq exchange as JCS,bought out Pineapple earlier this yearand changed its name and ticker accordingly.
Just prior to the merger, Pineapple had already bought two Hawaii solar companies, Hawaii Energy Connection and E-Gear. That gives the new Pineapple Energy a solid position in the Hawaii market.
Pineapple aims to use that as a launching point for building a nationwide footprint in offering solar solutions.
The company’s Q2 earnings report (its first since the merger) shows promise. Revenue was $5.9 million after being zero a year ago, and earnings per share was 15 cents – a welcome profit after the company lost 74 cents per share a year ago.
PEGY stock was trading at less than $1 per share at the beginning of the month but is up more than 215% since then. PEGY has a “B” rating in thePortfolio Grader.
Source: Shutterstock
ON Semiconductor(NASDAQ:ON) is a much less volatile play than PEGY, but it also has more of a track record to go by. It did get a big boost this summer when it joined the all-importantS&P 500 index.
While much of the market is still deep in the red, ON Semiconductor is nearly breaking even, down less than 2% so far on the year. In a year like this, having a stock that’s flat is definitely better than one that’s been handing out losses right and left.
The company makes semiconductors that are used in automotive, communications, computing, consumer, industrial, lighting, medical and military applications. That’s a great place to be in as companies are clamoring for semiconductors and the CHIPS Act makes buying semiconductors from U.S. companies easier.
Earnings in the third quarter continued the company’s winning ways – revenue of $2.19 billion beat analysts’ expectations for $2.12 billion. EPS of $1.45 per share was better than the $1.31 the Street expected.
ON has an “A” rating in thePortfolio Grader.
Source: Shutterstock
Amkor Technology(NASDAQ:AMKR) packages and tests integrated circuits for chip manufacturers. The company has a pretty big footprint outside of it’s home base in Arizona, with factories also in China, Japan, South Korea, Malaysia, the Philippines, Portugal and Taiwan.
Although it has faced some challenges this year – the company’s operations in Shanghai were hurt by China’s extended Covid-19 shutdown – but the stock has rallied as of late, up nearly 30% since early July.
Third-quarter earningsof $2.08 billion and EPS of $1.25 per share easily beat analysts’ expectations and showed strong year-over-year growth (revenue was up 24% from a year ago, with net income of $306.1 million being an increase of 69%).
AMKR stock has a “B” rating in thePortfolio Grader.
Source: Sasima / Shutterstock.com
I’m a big fan ofBroadcom(NASDAQ:AVGO) stock because of its position in the 5G space.
Broadcom designs and develops semiconductors for the wireless and broadband communication industry.
That’s a great opportunity for investors because I’ve long been convinced that the applications of 5G could be life-changing. The ability to get lightning-quick internet speeds even when on Wi-Fi opens the doors for smart cities, machine learning, AI, virtual reality, and more.
Broadcom is also buying enterprise software companyVMWare(NYSE:VMW) in a $61 billion deal that will allow it to expand into cloud computing.
Q3 revenue of $8.46 billion and earnings of $9.73 per share beat analysts’ expectations for $8.41 billion and $9.56 EPS.
AVGO stock has a “B” rating in thePortfolio Grader.
Source: IgorGolovniov / Shutterstock.com
Another solar energy stock,Enphase Energy(NASDAQ:ENPH) makes and markets solar energy inverters and battery storage products. The company’s products allow customers to gather solar power, store it on a battery and use it in the event of a power grid failure.
Enphase will be able to use a smartphone app to direct power to essential appliances, which will help them to maximize their power reserves.
Earnings in the third quarter topped analysts’ estimates for the top and bottom lines as Enphase stock kept its hot streak intact. ENPH is up 55% so far on the year, including an 11% gain over the last month.
ENPH stock has an “A” rating in thePortfolio Grader.
Source: Shutterstock
Based in Seattle,Inpinj(NASDAQ:PI) is a pretty cool company. It manufactures tag chips that use radio-frequency identification (RFID) technology to allow users to track an item’s identity, location and authenticity.
Its products can be used by retailers to prevent theft, food suppliers to help record use-by dates, pharmaceutical companies and fleet management. Its tags are also a critical tool for the Internet of Things, as it allows computers to track inventory and the supply chain.
PI stock has had a pretty good year as well, up 16% in 2022, and up 22% just in the last month. Third-quarter earnings also continued the company’s trend of beating expectations, as it reported $68.27 million in revenue of 34 cents EPS – both better than the forecasted $64.79 million revenue and 20 cents EPS.
PI stock has an “A” rating in thePortfolio Graderas well.
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The post7 Semiconductor Stocks to Buy and Hold Foreverappeared first onInvestorPlace. || 7 Tech Stocks to Buy Before the Market Blasts Higher in 2023: A number of catastrophic headwinds imposed significant volatility, especially for popular tech stocks to buy. Primarily, the dovish monetary policies of the past came to roost this year, sending inflation skyrocketing. Now, the Federal Reserve must unwind prior excesses , resulting in a decline in money stock . Depending on how far the central bank wants to go, the environment moving forward could be deflationary in nature. Because many tech stocks to buy receive support from dovish policies, a hawkish ecosystem presents significant challenges, hence their losses. Still, it’s also important to remember that the tech space undergirds myriad innovations. Therefore, the sector may not be deflated indefinitely. To advantage what could be an incredible discount at this juncture, I used Gurufocus.com to extract relatively low-risk ideas that the market either undervalues or ignores. While these names require some patience and tolerance for volatility, it may be worth checking out for potentially large gains. With that, here are seven tech stocks to buy before the market blasts higher next year. InvestorPlace - Stock Market News, Stock Advice & Trading Tips MSFT Microsoft $216.61 TSM Taiwan Semiconductor $61.79 ASML ASML. $457.80 ACN Accenture $258.44 AMAT Applied Materials $90.06 APH Amphenol $74.81 LOGI Logitech $50.21 Microsoft (MSFT) The Microsoft logo outside a building representing MSFT stock. Source: Asif Islam / Shutterstock.com One of the biggest consumer technology firms in the world, Microsoft (NASDAQ: MSFT ) essentially owns the business world. For instance, the company dominates the desktop operating system segment , commanding around 76% market share. In other words, if you don’t know your way around Microsoft applications, it’s going to be a long day in the office. However, the market can’t seem to run fast enough away from tech stocks to buy, even the established stalwarts. Therefore, MSFT shares slipped 36% on a year-to-date basis. As well, circumstances look rough in the immediate picture, with MSFT losing 14% of equity value in the trailing month. Nevertheless, for those that have a longer-term perspective, the red ink represents a viable discount. Financially, Microsoft is a profitability machine . For instance, its net margin of over 34% ranks better than nearly 97% of the industry. Moreover, Microsoft features a return on equity (ROE) of almost 43%, exceeding the levels printed by 96% of its peers. This reading also signifies that Microsoft represents a very high-quality business. Thus, MSFT easily ranks among the tech stocks to buy. Taiwan Semiconductor (TSM) a close up image of a semiconductor Source: Shutterstock Story continues Based in its namesake country, Taiwan Semiconductor (NYSE: TSM ) is a semiconductor contract manufacturing and design company. Per its public profile , TSM is the world’s most valuable semiconductor company, the world’s largest dedicated independent semiconductor foundry and one of Taiwan’s largest companies. Unfortunately, these stats don’t impress Wall Street much, with shares dropping over 53% YTD. Still, astute investors will be wise to ignore the noise and consider building a position. For one thing, Taiwan Semiconductor is significantly undervalued , according to Gurufocus.com. Using traditional metrics, TSM trades for 10.6 times forward earnings. In contrast, the industry median is 15 times forward earnings. Like Microsoft above, Taiwan Semiconductor truly comes alive on the bottom line. The company’s net margin stands at 40.6%, ranking higher than over 97% of the competition. Also, its ROE and return on asset (ROA) rate within the top 10% of the industry, reflecting tremendous business quality. Fundamentally, then, TSM is a no-brainer among tech stocks to buy. ASML (ASML) semiconductor stocks Close-up electronic circuit board. technology style concept. representing semiconductor stocks Source: Shutterstock An advanced semiconductor specialist, ASML (NASDAQ: ASML ) specifically focuses on extreme ultraviolet (EUV) lithography. Per CNBC , ASML is one of a kind , the only company manufacturing the $200 million machines to print every advanced microchip. This fact alone suggests investors should consider ASML as one of the tech stocks to buy. However, Wall Street apparently would rather focus on the sector’s challenges. Since the beginning of the year, ASML gave up nearly 45% of equity value. To me, this selloff seems overly harsh considering the company’s unique offerings. Moreover, Gurufocus.com rates ASML as modestly undervalued based on its proprietary calculations. More importantly, ASML represents a high-quality business. Both its ROE and ROA rank among the sector’s top echelon. On the top line, the company’s three-year revenue growth rate stands at 20.9% beating out over 76% of its rivals. Plus, during the same period, ASML’s free cash flow ( FCF ) growth rate pinged at 61%, better than over 85% of the industry. Basically, the business is too strong and unique to ignore. Accenture (ACN) Tech stocks: Double exposure of man's hands holding and using a phone and financial graph drawing. Source: Peshkova / Shutterstock Headquartered in Dublin, Ireland, Accenture (NYSE: ACN ) specializes in information technology services and consulting. While one of the top beneficiaries of the new normal, ACN shares peaked in late 2021. Unfortunately, this creates an unfavorable backdrop for technical comparisons. Since the beginning of the year, Accenture dropped 37% of equity value. However, ACN makes a case for tech stocks to buy based on its combination of strong margins and fiscal stability . For the former category, Accenture’s operating margin stands at 15.2%, ranked higher than nearly 83% of its peers. Also, its net margin is 11.2%, beating out 79% of the competition. Finally, relating to the income statement, Accenture’s ROE came out to 33%, signifying a very high-quality business. On the stability front, the company features an Altman Z-Score of 6.8. This puts the overall business in the safe zone, meaning that it has low risk of bankruptcy. For a lesser-appreciated name among tech stocks to buy on the dip, ACN brings much to the table. Applied Materials (AMAT) light bulb on abstract technology background Source: Thitichaya Yajampa / Shutterstock.com Headquartered in Santa Clara, California, Applied Materials (NASDAQ: AMAT ) bills itself as the leader materials engineering solutions used to produce virtually every new chip and advanced display in the world. Though one of the most fundamentally significant tech stocks to buy, the Street has a dim view on AMAT. Since the Jan. opener, shares stumbled and gave up 46% of equity value. To be fair, the volatility isn’t entirely undeserved. For instance, Applied Materials “ cut its current-quarter sales and earnings guidance , saying that new export regulations for U.S. semiconductor technology sold in China will weigh on results,” per MarketWatch . While it’s a major distraction, it also opens up a compelling discounted opportunity. Primarily, the company generates excellent profitability margins . For example, its net margin is 26.4%, ranked better than 88% of its rivals. Further, the strength of its financials helped spark a ROE of 55.5% and ROA of 26%. Both stats rank among the top tier of the semiconductor industry, making AMAT an attractive idea for tech stocks to buy. Amphenol (APH) Tech stocks: Double exposure of man's hands holding and using a phone and financial graph drawing. Source: Peshkova / Shutterstock Based in Connecticut, Amphenol (NYSE: APH ) is one of the lesser-known names among tech stocks to buy. Per its corporate profile , Amphenol is a major producer of electronic and fiber optic connectors, cable and interconnect systems such as coaxial cables. Despite its under-the-radar nature, the Street hasn’t taken much of a liking to the enterprise. Since the start of the year, APH declined by 14%. Nevertheless, Amphenol may be worth checking out for contrarian market participants. Financially, the company drives home strong stats regarding the income statement. In addition, it’s a stable entity. For instance, the company’s three-year revenue growth rate hit 9.8%, better than 69% of its peers. Its net margin is 15%, above 87% of the underlying sector. Plus, its ROE is 29%, reflecting a very high-quality business. On the balance sheet, Amphenol features an Altman Z-Score of 5.24, putting the enterprise in the safe zone. Moving ahead in unchartered economic waters, this stability could command a premium. Logitech (LOGI) Two receivers for wireless Logitech (LOGI) devices, plugged into a laptop computer. Source: Somphop Krittayaworagul / Shutterstock.com Specializing in computer peripheral equipment, Logitech (NASDAQ: LOGI ) represents a dual threat within tech stocks to buy, catering to both business and entertainment demand. From keyboards to contoured mice to video game controllers, Logitech is a vital cog in how people interact with their various machines. Still, the market hasn’t been too thrilled with LOGI, sending shares down over 43% so far this year. However, this negative dynamic could be due for a turnaround. Recently, Reuters reported that Logitech “ reported better-than-expected profit during its latest quarter and stuck to its full-year guidance.” Prior to the disclosure, analysts worried that headwinds such as tough comparisons, a strong dollar and fragile consumer confidence would derail Logitech’s financial results. Fortunately, the red wave never materialized. Moving forward, investors can have confidence in LOGI because of its broader relevance. As society fully returns to normal, demand for its computer peripherals should rise. Also, Logitech can handle some economic storms, based on its strong cash-to-debt ratio of nearly 11 times. On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. More From InvestorPlace Buy This $5 Stock BEFORE This Apple Project Goes Live The Best $1 Investment You Can Make Today Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” It doesn’t matter if you have $500 or $5 million. Do this now. The post 7 Tech Stocks to Buy Before the Market Blasts Higher in 2023 appeared first on InvestorPlace . View comments || Binance Is Strongly Leaning Toward Scrapping FTX Rescue Takeover After First Glance at Books: Source: Cryptocurrency exchange giant Binance is highly unlikely to go through with itsproposed acquisitionofstruggling rival FTXafter less than a day of reviewing the company, according to a person familiar with the matter.
Read More:Crypto Exchanges Scramble to Compile 'Proof-of-Reserves' as FTX Contagion Grips Markets
Binance’s nonbinding letter of intent for the takeover – announced Tuesday as FTX’s financial position appeared to be spiraling out of control – hinged on Binance performing due diligence. Roughly half a day into that process of reviewing FTX’s internal data and loan commitments has led Binance to strongly lean against completing the transaction, the person said.
Binance declined to comment on the current status of the proposed deal. FTX also declined to comment.
After CoinDesk released this story, losses in the cryptocurrency and U.S. stock market worsened. Bitcoin (BTC) revisited its 2022 low of around $17,100, and ether (ETH) returning to its post-Mergelow of $1,160. TheCoinDesk Market Index (CMI)recently was down 5.2% from 24 hours earlier. The S&P 500, the benchmark for American equities, fell to its low of the day.
Read More:Binance CEO Zhao Says Planned FTX Acquisition Is Not a 'Win for Us'
Backing out would be yet one more stunning step in a week of drama. CoinDesk a week ago published ascoopabout the balance sheet of Alameda Research, the corporate sibling of FTX. The story prompted concerns about the financial stability of Sam Bankman-Fried’s crypto empire, which includes both companies, leading to a liquidity crunch at FTX – a situation exacerbated Sunday when Binance CEO Changpeng Zhao said he wouldsell his holdings of the FTT cryptocurrency issued by FTX.
Binance then struck the deal after FTX had sought help from and was turned down by other large exchanges, Coinbase and OKX, according to people familiar with the matter.
UPDATE (Nov. 9, 15:43 UTC):Adds in third paragraph that FTX declined to comment.
UPDATE (Nov. 9, 15:49 UTC):Adds in fourth paragraph that losses in the crypto market worsened after this story was published.
UPDATE (Nov. 9, 16:01 UTC):Adds in fourth paragraph that the S&P 500 fell to its low of the day. || 3 Reddit Stocks That Are Too Cheap to Ignore: In 2020 and 2021, so-called Reddit stocks came roaring to life. Investors were increasingly piling into these names in a way that many in the industry knew would end in disaster. Ultimately, it did, with these stocks falling significantly in 2022. However, that does leave us with some cheap Reddit stocks to pick over.
In early 2021, there were some short-squeeze discussions, mostly centered aroundGameStop(NYSE:GME). Bands of traders convened on Reddit, looking for stocks that had high short-interest readings, to load up on the stock and try to force what’s called a short-squeeze — essentially, forcing short sellers to stem their losses by buying back shares they initially borrowed.
Many of these names became popular Reddit stocks, although that list expanded as more and more investors began looking into investing. As a bear market roils the stock market, let’s revisit some of these names and see if we can’t shake out a couple of cheap Reddit stocks.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
[{"AMD": "GOGO", "Advanced Micro Devices": "Gogo", "$58.17": "$12.52"}, {"AMD": "BB", "Advanced Micro Devices": "BlackBerry", "$58.17": "$4.42"}]
Source: JHVEPhoto / Shutterstock.com
Advanced Micro Devices(NASDAQ:AMD) is not the first name that comes to mind when I think of cheap Reddit stocks. However, upon further inspection, it’s one that certainly warrants a closer look.
First, it’s one of the top Reddit stocksright now, and shares of AMD stock recently hit a new 52-week low. So, while it may not be cheap in the sense of its share price, it sure is cheap based on its valuation. However, there is good news and bad news here.
AMD shares trade at less than 14-times this year’s earnings. That’s darn cheap for a company churning out as much growth as this firm is. But this is where the good news meets the bad news. On Oct. 6, the companyreleasedpreliminary third-quarter results, with expectations for revenue of roughly $5.6 billion vs. estimates of $6.71 billion.
That miss sent shares to new 52-week lows, with AMD stock now down about 65% from the high. Given its role in the semiconductor space and how far the stock has already sunk, long-term investors may want to pay attention to AMD.
Source: Shutterstock
One popular Reddit stock from the 2020-21 bull run wasGogo(NASDAQ:GOGO). This stock went from $10-plus to single digits in the lead-up to the Covid-19 correction, then it slumped all the way down below $2. Investors were leaving this one for dead — and for good reason.
Who was going to pay for wireless internet on planes during a global pandemic? On the surface, the question made sense and the doubt surrounding Gogo were reasonable. However, investors didn’t consider what private jets were doing and the WiFi revenue that was being driven from business aviation.
In fact, the company’s business aviation was a profitable and free cash positive venture. It was Gogo’s commercial aviation product that didn’t do so well. However, the company thensold itin December 2020. Theoretically, even getting zero dollars for the business would have been a positive, but instead, Gogo received $400 million in cash.
Now the company is profitable,growing revenueat a double-digit clip and even trades at a reasonable valuation.
Source: Shutterstock
Last but not least we have a Reddit favorite:BlackBerry(NYSE:BB).
In fact, BlackBerry has been a favorite among certain investors for a long time, but the stock has never panned out to be the winner that the bulls had hoped. In that respect, avoiding BlackBerry is a reasonable takeaway for many readers and without question, is the riskiest pick on this list.
That said, BlackBerry is like that pesky stock that just won’t die off. No one has acquired the company, and while there have been positives at times, BlackBerry just never capitalized on its opportunities enough for the stock to break free and run higher.
While the stock had periods of momentum (and ripped higher during short-squeezes), BlackBerry now finds its stock trading at its lowest price since Nov. 2020.
Down in the $6-range, this name has typically found a bid. That observation stretches back all the way to 2012 (although shares did trade at a low of $2.70 during March 2020). It’s now below $5.
While analysts doexpecta notable pullback in business this year, 2023 estimates call for a rebound back towards 2021 levels. Admittedly, that’s not the greatest endorsement, but break-even results on $900 million in revenue and (hopefully) positive free cash flow could be enough to send this stock higher — even if it remains below $10.
On the date of publication, Bret Kenwell 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.
Bret Kenwell is the manager and author ofFuture Blue Chipsand is on Twitter@BretKenwell.
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The post3 Reddit Stocks That Are Too Cheap to Ignoreappeared first onInvestorPlace. || Instagram Influencer Pleads Guilty for Stealing $2.5M in Bitcoin: New York-based Instagram influencer Jebara Igbara—who went by the online pseudonym Jay Mazini—haspled guiltyto an assortment of crimes including stealing $2.5 million worth ofBitcoinfrom his followers.
Igbara reportedly posted on his Instagram and other social media accounts that he was willing to pay above-market prices for various cryptocurrencies,usually around3.5% to 5% over their market value.
The influencer reportedly justified the premium by claiming that traditional crypto exchanges were limiting how much Bitcoin he could purchase.
According to the court filing, after receiving the crypto, Igbara would then send his victims doctored images of wire transfer confirmations that purported to show he had sent money for the cryptocurrency as promised.
In reality, the payment was never sent.
Until he was charged and arrested in March 2021, Igbara maintained a now-defunct Instagram account, which at one point had one million followers, where he would give out large sums of money to people in grocery stores as well as to fast-food workers.
In one of his most popular social media stunts, Igbarahanded outover $30,000 of cash at a Burger King in Queens, New York alongside popular rapper 50 Cent.
The Bitcoin theft came as part of a wider set of overlapping fraudulent schemes worth $8 million, where the accused allegedly defrauded members of the Muslim-American community in New York by soliciting their money for purported investments in stock, electronics resale, and purchases of COVID-19 related personal protective equipment (PPE).
He was actually operating a Ponzi scheme alleged the court filing, and “misappropriated nearly all of the money for his personal expenses and gambling,” according to authorities.
Igbara now faces up to 20 years of imprisonment, depending on the decision of the U.S. Attorney’s Office of the Eastern District of New York.
Thomas Fattorusso, the Special Agent-in-Charge of the Internal Revenue Service Criminal Investigation, said that “those in the Ponzi scheme were all assured a high rate of return in a short amount of time, while the victims of the Bitcoin advance fee scheme were guaranteed above current market value for their Bitcoin.”
He added: “This multi-million dollar case is a reminder for anyone thinking of investing: Be skeptical of any investments with larger-than-life promises because if it sounds too good to be true, it probably is.”
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 16884.61, 16669.44, 16687.52, 16697.78, 16711.55, 16291.83, 15787.28, 16189.77, 16610.71, 16604.46
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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 2018-06-05]
BTC Price: 7633.76, BTC RSI: 43.56
Gold Price: 1297.50, Gold RSI: 44.40
Oil Price: 65.52, Oil RSI: 37.96
[Random Sample of News (last 60 days)]
Litecoin Payments are Quietly Starting to Catch On: One of the main critiques about Bitcoin is the digital currency’s troubles offering timely and cost-effective payments. Charlie Lee, the founder of Litecoin, foresaw Bitcoin’s future payment issues, and took action by designing a more payments-friendly blockchain.
After earning the nickname, ‘SatoshiLite’, Mr. Lee earned a job at Coinbase, the large San Francisco-based crypto-exchange. Mr. Lee left Coinbase last year. Thereafter, he sold his Litecoin so that he could act more freely as a champion for the digital currency he founded and not be accused of pumping and dumping.
After a tough few years for Bitcoin in the headlines when it comes to its payments weakness, attention might finally be turning to Litecoin – which admittedly has existed under the shadows of the modern ICO craze and even the Bitcoin Cash experiment.
Last week, an article inBusiness Insiderdiscussed how $99 million worth of Litecoin was sent for just 40 cents worth of fees. In February, the EU online retailer Alza.cz began accepting Litecoin as a payment method in February 2018. Alza is one of the largest Czech retail shops. They made theannouncement via Twitter.
Further, the first Lightning Network transaction was completed through Litecoin, when 0.00000001 LTC wastransferredfrom Zürich to San Francisco in under one second.
Then, this week, long-time provider of crypto debit cards,Wirex, announced it would begin supporting Litecoin for its cards. Wirex’s full Litecoin integration allows users to spend Litecoin with the blockchain company’s payment card.Users can even exchange dozens of altcoins into Litecoin, potentially simplifying the process of cashing out of an ICO or crypto in general.
“Wirex keeps growing as a platform so it’s natural for us to add new servicesand currencies,” said Pavel Matveev, CEO of Wirex. “Litecoin has huge potential and a big community, so there is a lot of demand for this service in the market”.
As the company wrote in its blog: “Customer polls last year revealed the popularity of Litecoin as a rival alternative crypto to Bitcoin…It’s faster than Bitcoin, has lower blockchain fees and may become a global payment option available on dozens of big brand websites in coming months.”
Wirex joins a limited number of payment cards that make this possible.
As Mr. Lee recently tweeted:
“FYI: Coinbase’s Shift Visa debit card can be linked to any wallet in your Coinbase account. So, in addition to BTC, it can be set up to deduct from your LTC (or ETH/BCH) wallet.”
TenX, another crypto-card provider, recently announced on theirblogplans in the future for a Litecoin debit card.
“…[W]e have reached out to, and are working with the Litecoin Foundation to introduce a co-branded card for which more information will be available soon.”
A peer-to-peer cryptocurrency and fork of the Bitcoin Core client, Litecoin was released via an open-source client on GitHub on October 7, 2011 by Mr. Lee. Key differentiators between Bitcoin and Litecoin were a decreased block generation time (2.5 minutes), an increased maximum number of coins (84 million), a different hashing algorithm (using scrypt instead of SHA-256) and a modified GUI.
These reasons combined make Litecoin an intriguing payments option not only for individuals but businesses, as well. Just as Mr. Lee intended. The Lightning Network, Alza.cz and Wirex might be a sign of a coming wave of businesses exploring Litecoin for payments.
Featured image from Shutterstock.
The postLitecoin Payments are Quietly Starting to Catch Onappeared first onCCN. || Is bluebird bio One Step Closer to Its First Commercial Drug?: Beta thalassemia patients endure a lifetime of blood transfusions that can cause iron overload and life-threatening organ damage, but a new gene therapy developed bybluebird bio(NASDAQ: BLUE)may be about to change that. On Thursday, bluebird bio unveiled intriguing interim results from trials evaluating its beta thalassemia therapy, LentiGlobin, and so far, those results suggest that LentiGlobin could significantly reduce the need for blood transfusions.
If the data still is positive when these trials finish, bluebird bio plans to file for European Union approval of LentiGlobin by the end of 2018, and that could mean bluebird bio'sabout to make the leapfrom clinical-stage to commercial-stage biotech.
IMAGE SOURCE: GETTY IMAGES.
Worldwide, roughly 60,000 children are born with beta thalassemia every year, including 1,500 per year in the United States. It's an inherited genetic disorder that prevents patients from adequately producing beta globin, which is necessary for making the oxygen-carrying protein, hemoglobin. Without hemoglobin, most red blood cells die, so to survive, beta thalassemia patients must regularly receive transfusions of red blood cells.
These transfusions are necessary, but they expose patients to life-threatening risks. Over time, red blood cell transfusions can cause iron overload because the human body can't remove iron as quickly as the transfusions add it.
A buildup in iron stores is complicated further by the fact that beta thalassemia patients tend to absorb more iron in the intestines than healthy people. Because excess iron is toxic to cells, iron overload can cause serious and irreversible organ damage, including cirrhosis, diabetes, heart disease, and hypogonadism that results in an increased risk of mortality.
LentiGlobin inserts a functional human beta-globin gene into a patient's own hematopoietic stem cells. The process is done outside of the body, or ex vivo, and then the modified cells are infused back into the patient's bloodstream, a process known as autologous stem cell transplantation.
While more data is needed to demonstrate LentiGlobin's effectiveness, bluebird bio's latest results are intriguing. Specifically, 12 of 13 patients who can produce some hemoglobin (non-beta 0/beta 0 genotypes), but were transfusion dependent, didn't need a transfusion for a median 27 months following a single infusion of LentiGlobin. Nine patients with the more severe form of beta thalassemia (beta 0/beta 0 genotypes) also benefited with transfusions being stopped in three patients, and overall median transfusion volume decrease of 73%.
These findings are important because it suggests that LentiGlobin significantly reduces the number of transfusions necessary and the volume of red blood cells transfused. These are two benefits that could substantially lower the risk of iron overload.
The interim data is from bluebird bio's Northstar and HGB 205 studies. That's important to know because EU regulators have said they'll consider a conditional approval of LentiGlobin based on the final results from those two trials.
According to management, the Northstar study now is complete and the HGB 205 study is ongoing, but it's expected to wrap up soon. If the final look at data from these trials is positive, then bluebird bio expects to file for an EU green light by the end of 2018.
In the U.S., patients will have to wait a bit longer for beta thalassemia's approval. After discussing a path to market with the Food and Drug Administration, bluebird bio has decided to wait until it also has data from its HGB-207 and HGB-212 trials in hand to file for an OK. According to Clinicaltrials.gov, HGB-207's estimated completion date is January 2020; for HGB-212, it's April 2021.
Overall, LentiGlobin is one of three gene therapies that'sapproaching the finish lineat bluebird bio. The company's also closing in on fling for approval of a multiple myeloma therapy bb2121 and Lenti-D, a therapy for a rare genetic disorder called cerebral ALD (CALD). If everything goes according to management's plan, these therapies all will be filed by the end of 2019 and potentially, all three could be generating revenue for the company in 2020. Clearly, this is an exciting time for patients, the company, and its investors.
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Todd Campbellowns shares of Bluebird Bio. The Motley Fool owns shares of and recommends Bluebird Bio. The Motley Fool has adisclosure policy. || Dick's Sporting Goods (DKS) Q1 2018 Earnings Conference Call Transcript: Logo of jester cap with thought bubble with words 'Fool Transcripts' below it Image source: The Motley Fool. Dick's Sporting Goods (NYSE: DKS) Q1 2018 Earnings Conference Call May. 30, 2018 10:00 a.m. ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Good morning, everyone, and welcome to the Dick's Sporting Goods' first-quarter conference call. All participants will be in a listen-only mode. [Operator Instructions]. After today's presentation, there will be an opportunity to ask questions. [Operator Instructions]. Please also note today's event is being recorded.At this time, I'd like to turn the conference call over to Mr. Steve West, vice president of investor relations. Sir, please go ahead. Steve West -- Vice President of Investor Relations Good morning, everyone, and thank you for joining us to discuss our first-quarter 2018 results. On today's call will be Ed Stack, our chairman and chief executive officer; Lauren Hobart, our president; and Lee Belitsky, our chief financial officer. A rebroadcast of today's call will be archived on the Investor Relations portion of our website, located at dicks.com for approximately 30 days.As a reminder, we will be making forward-looking statements, which are subject to various risks and uncertainties that could cause our actual results to differ materially from these statements. Any such statements should be considered in conjunction with cautionary statements in our earnings release and risk factor discussions in our filings with the SEC, including our last Annual Report on Form 10-K and cautionary statements made during this call. We assume no obligation to update any of these forward-looking statements or information. Please refer to our Investor website at dicks.com to find the reconciliation of non-GAAP financial measures referenced in today's call.Now for a couple of admin items, please note we revised our earnings release schedule to more closely align with our SEC reporting calendar. Also for the second and third quarters, the timing of our quarterly dividend announcement will be consistent with that new calendar and we will announce any dividend in conjunction with our quarterly earnings release. And finally for your future scheduling purposes, we are tentatively planning to publish our second-quarter 2018 earnings release before the market opens on August 29, 2018, with our subsequent earnings call at 10 AM Eastern Standard Time.With that, I will now turn the call over to Ed. 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 Ed Stack -- Chairman and Chief Executive Officer Thank you, Steve, and good morning, everyone. Before moving to the business review, I'd like to first formally interview -- introduce Steve West as our new head of investor relations. Additionally, I'd like to thank Nate Gilch for his outstanding work in IR over the past years. Nate's moving into a new leadership role within our finance organization supporting field operations.This morning, we're pleased to report earnings per diluted share of $0.59 and are raising our full-year earnings per diluted share guidance to a range of $2.92 to $3.12 from $2.80 to $3. First-quarter revenue grew 4.6% to approximately $1.9 billion. Adjusted for the calendar shift due to the 53 week last year, our consolidated same-store sales declined 2.5% and our e-commerce business increased 24%. As a percent of total net sales, our online business increased to approximately 11%, compared to approximately 9% in the same period last year.Merchandise margin rate increased across the majority of our business categories. This margin rate expansion is due to stronger innovation and newness from several of our key partners, as well as the higher penetration of our private brands. Our refined assortment led to a healthier business with fewer promotions. During the quarter, we started to see the benefits of many of our strategies and investments.First, our private brand business is a source of strength that continues to accelerate. This business continues to outpace our Company average delivering double-digit growth again this quarter. Driving differentiation and exclusivity within our assortment is the top priority.We've expanded our CALIA collection to new categories and given it premium space in our stores. In the three short years since its launch, CALIA has grown to be our number three private brand in our portfolio and the number two brand in women's athletic apparel behind only Nike.This quarter, we also launched Tommy Armour Golf Clubs. These clubs were designed in partnership with the BMW Designworks and have received national recognition. We have significant momentum in our private brand business and believe it can reach $2 billion over a relatively short period of time.Second, we are seeing the positive impacts of our merchandising strategy we launched last year. Over the course of last year, we enhanced relationships with strategic partners, eliminated non-essential vendors, and removed complexity from our assortment and supply chain.As a result of these efforts, we have a more refined assortment, cleaner inventory, better in-stock positions, and fewer promotions compared to the last few quarters. Importantly, during this first quarter, our inventory levels declined 3.8% year over year, compared to a 4.6% increase in sales. This reflects better execution and translates to better merchandising margin rates. We continue to work and optimizing our assortments and our vendor base.Our technology investments are continuing to show positive results. We are now more than a year past the launch of our proprietary e-commerce platform and our online customer experiences continue to improve.As we anniversary the launch of the website last year, we are very pleased with our 24% e-com growth of this past quarter. I am extremely optimistic about the future of Dick's Sporting Goods, while we're pleased with the progress made during the quarter. We remain focused on our goal to build the best omnichannel experience for all athletes. Lauren will outline in more detail our strategy against this goal.Before I turn the call over to her, I'd like to thank our associates for their hardworking commitment to this Company over the past year were driven by the shared belief that sports make people better and have the power to unify us.I'd now like to turn the call over to Lauren. Lauren Hobart -- President Thanks, Ed, and good morning everyone. Like Ed, I am very excited about the opportunities that we have in front of us to drive the competitive advantage and win with our customers, whom we call athletes. As we strive to build the best omnichannel experience for all athletes, we've built a strategic framework for achieving this goal.The first pillar of our strategy is the relentless improvement of our core execution to make our shopping experience the best in retail. We are working to make it frictionless for athletes to engage with us across all touch points of their journey regardless of when, where or how they want to visit with us.There are two areas within the shopping path that are key priorities. First, we are making it easier for athletes to find the best products to meet their needs by increasing our in-stock positions and our debt, presenting our products in powerful and impactful ways and continuing to offer our best price guarantees.Second, we are making it more convenient for athletes to complete transactions. This includes focusing on speed of checkout both in-stores and online. Our efforts to improve core functionality on our new web platform combined with overall better execution resulted in improvements in margin rates, conversion, and average order value in e-commerce during the quarter contributing to the 24% online growth.As part of improving the athlete's overall experience, we continue to invest in our supply chain to improve the speed and reliability of our online delivery. We are also continuously testing ways to improve the online pickup experience.This includes the recent pilot of Lockers near the entrance of select Dick's Sporting Goods stores, which conveniently allow people to place an order online and pick it up at a store within one hour without waiting for assistance. This is just one example of a new agile approach we are taking to innovation through which we are rapidly experimenting to optimize our omnichannel experience, learning quickly and moving to solutions.This improved shopping experience will also become a core part of our marketing efforts going forward. In fact, today we launched a New TV Campaign which emphasizes the benefits that we provide as an omnichannel retailer and highlights the many ways that athletes can shop with us. Marketing will continue to be a major priority as we raise awareness of our powerful omnichannel platform and deepen the emotional connection to our brand.The second pillar of our strategy is to leverage the power of our expertise in Sporting Goods to guide and inform athletes. In addition to providing the most compelling assortment of brands and categories in the industry, the expertise that we share with our athletes differentiates us as the premier omnichannel sporting goods retailer. One example of this is through our [inaudible] segments, which provide athletes with our advice on products and training as well as how-to guides.Another great example of this is our recent partnership with Nike to launch the new Epic React running shoe. Our significant access and depth in the product are an in-store and online presentation and our strong joint marketing efforts with Nike help to make us a leader in this launch which proved to be extremely successful. We are also differentiating ourselves via our ScoreCard loyalty program which is a tremendous asset.We have over 20 million active users in the program accounting for more than 70% of our sales. So the program is incredibly robust. This data from the program is the engine of our digital and direct marketing efforts, enabling us to engage in more meaningful and effective one-to-one personalized communications. We also continue to test new ways to better award our most loyal ScoreCard members, including an expanded test of our ScoreCard Gold program.Our third strategic pillar is improving productivity in our business. We are highly disciplined in how we invest our time, resources, and capital to ensure we focus only on work that contributes to the strategic and financial objectives of the company. We are focused on driving efficiencies and processes and identifying savings from non-value added activities allowing us to reinvest in growing areas of our business. This is a very exciting time for our Company as we focus on driving excellence in our core business, creating differentiation in the marketplace, and delivering continuous productivity improvements.I will now turn the call over to Lee to speak more specifically about our financial results and outlook. Lee Belitsky -- Chief Financial Officer Thank you, Lauren, and good morning, everyone. Let's begin with a brief review of our first-quarter results. Consolidated sales increased 4.6% to approximately $1.91 billion. This included a benefit from the calendar shift of approximately $32 million or $0.10 per diluted share.Adjusted for the calendar shift due to the 53rd week last year, consolidated same-store sales declined 2.5%. Transactions declined by 3.7%, which we believe was impacted by colder spring weather this year versus last and average ticket increased by 1.2%. We continue to believe reporting the comp to reflect the calendar shift is the most meaningful indicator of our performance. However, given the confusion we've seen with some other retailers who have reported recently, we felt it was important to be as transparent as possible and report the comp both ways. Based on an unshifted calendar, consolidated same-store sales declined 0.9% for the quarter.Looking at our best performing categories in the quarter and these were all on a shifted basis, we saw strength in our Fitness Equipment and Team Sports businesses, license sales also comp positively benefiting from the Eagles Super Bowl win. Additionally, we continue to drive double-digit comp sales growth in our private brands, which significantly outpace the company average driven by strong sales growth from CALIA, Field & Stream, and Adidas, Team Sports as well as our new brands.Finally, our cold weather businesses such as outdoor apparel and boots increased sharply. These areas of strength, however, were offset by declines in our hunt and electronics businesses. As expected our firearms policy changes impacted our hunt business which saw an accelerated decline in an already challenged category. Our Electronics business, which is primarily fitness tracking was down in the high double-digits as we are essentially exiting that business.As we said on the fourth quarter call, we expect these businesses to remain under significant pressure throughout the remainder of the year and the headwinds are incorporated in our full-year outlook. However, we are benefiting from a margin rate perspective as these categories tend to be lower margin businesses.Moving on to margin, gross profit for the quarter was $560.4 million or 29.3% of sales a 35 basis point decline versus last year. Within gross margin, our merchandise margins rate increased 18 basis points driven by lower promotions and a favorable merchandise mix. This increase, however, was more than offset by higher shipping and fulfillment costs associated with the growth in our e-commerce business as well as occupancy expense deleverage.SG&A expenses were $470.3 million for the quarter or 24.6% of net sales, deleveraging 56 basis points from the same period last year. This deleverage was primarily driven by higher brand building marketing expenses related to the Olympics, higher incentive compensation accruals and investment in our growth initiatives to support our long-term strategy.The effective tax rate was approximately 28%, which was favorable to our guidance of a 30% tax rate in the first quarter due to a one-time state tax settlement. This contributed approximately $0.01 to our first-quarter earnings.In total, we delivered first-quarter earnings per diluted share of $0.59 and there were no non-GAAP items during the quarter. Now looking to our balance sheet, we ended the first quarter with approximately $105 million of cash and cash equivalents and $280 million on our revolving credit facility.Turning to our first-quarter capital allocation, net capital expenditures were $44 million. We also repurchased approximately 3.3 million shares for a $107.9 million at an average price of $32.33. Additionally, during the quarter, we paid approximately $24 million in quarterly dividends.Moving to our fiscal 2018 outlook, we are maintaining our same-store sales guidance at flat to down low single-digits. Additionally, as Ed mentioned, we are raising our full-year earnings per diluted share outlook to a range of $2.92 to $3.12 from $2.80 to $3 primarily due to lower share account as well as higher margins and the lower tax rate in the first quarter.Before we take your questions, as we said on the fourth-quarter call, due to the calendar shift following the 53-week year last year, we expect their sales and earnings to be positively impacted in quarters one and two, and negatively impacted in quarters three and four for a net neutral impact on the year. We expect the impact on second-quarter sales and earnings to be similar to what we saw in the first quarter. For the third and fourth quarter, we expect the subsequent negative impact to offset the games in the first two quarters.This concludes our prepared remarks. Thank you for your interest in Dick's Sporting Goods. And, operator, you may now open the line for questions. Questions and Answers: Operator [Operator Instructions]. Our first question today comes from Michael Lasser from UBS. Please go ahead with your question. Michael Lasser -- UBS Investment Bank -- Analyst Good morning. Thanks a lot for taking my question. Has the margin merchandise margin performance in the first quarter made you rethink at all about the flow and shape of the margin over the coming quarters, particularly in the back half of the year? When you're going to anniversary significant margin decline? So should we expect that this type of performance for the trajectory now is sustainable? Lee Belitsky -- Chief Financial Officer Michael, hi. It's Lee. Michael Lasser -- UBS Investment Bank -- Analyst Hi, Lee. Lee Belitsky -- Chief Financial Officer We're very pleased with the merchandise margin. We were able to deliver in the first quarter and we believe that we can sustain improved merchandise margins throughout the year. Michael Lasser -- UBS Investment Bank -- Analyst Sustain improved, so you expect your merchandise margin to be up year over year and maybe even grow more substawinterntially given that the comparison will get year over year, is that fair? Lee Belitsky -- Chief Financial Officer Well, so we do expect it to be up over last year. The comparisons in the fourth quarter, we are so dependent is most of who will follow. We're so dependent on the weather. So it depends on what happened in the cold weather category and if we need to promote that because the winter is too warm then there might be relatively even if it's a normal winter similar to what we had last year we would expect the margin rates to be up but it is weather dependent. Michael Lasser -- UBS Investment Bank -- Analyst And speaking to more of the weather, my follow-up question, how much do you think the weather impacted your same-store sales in the first quarter and how much of that you think you'll get back in the second quarter specifically we should factor into our comp expectations in the second quarter? Ed Stack -- Chairman and Chief Executive Officer Well, I think it impacted us a bit. We don't really know how much but I wouldn't factor in a whole lot of a change in that we're going to recoup an awful lot in the second quarter. Michael Lasser -- UBS Investment Bank -- Analyst OK. Thank you so much. Operator Our next question comes from Robby Ohmes from Bank of America/Merrill Lynch. Please go ahead with your question. Robby Ohmes -- Bank of Merrill Lynch -- Analyst Thanks for taking my question and congrats on a great quarter. Actually a couple of quick questions, Ed. The first, just I think you guys didn't call out branded athletics, footwear and apparel was one of the key drivers for the quarter, just curious how that did? Ed Stack -- Chairman and Chief Executive Officer We're pleased with our footwear business and our apparel business. Robby Ohmes -- Bank of Merrill Lynch -- Analyst And any anything that stood out within that category? Ed Stack -- Chairman and Chief Executive Officer Nothing really in particular that surprised us. Our private brands did very well. The Adidas brand continues to do very well. I think we'll see some acceleration in Nike going forward. And we had a meeting with Under Armour yesterday. We are really pleased with the content and the direction we're going to be going with them going forward. So all-in-all we're pretty pleased with what's going on there. Robby Ohmes -- Bank of Merrill Lynch -- Analyst Thanks. And just one quick follow-up. When we think about your comps going forward on a shifted basis or apples-to-apples, where are we in the hunting and electronics being a pressure? Does that start to roll off and with the other things going on should we see you get back to positive comps maybe sooner rather than later? Ed Stack -- Chairman and Chief Executive Officer Robby, right now we maintained the guidance of low single digits to flat. The electronics business really will continue to be difficult through most of the fourth quarter. In the hunt business, we expect based on our firearm policy, it's going to continue to be challenged through the balance of the year. So we don't see a big change. We do see this change in margin rates and we're really pleased and that's one of the reasons why we raised our guidance for the year going forward. Robby Ohmes -- Bank of Merrill Lynch -- Analyst That's great. Thanks, Ed. Congrats again. Operator Our next question comes from Simeon Gutman from Morgan Stanley. Please go ahead with your question. Simeon Gutman -- Morgan Stanley -- Analyst Thanks. Good morning and a nice improvement. My question is the prior guidance had EBIT dollars down I think 20% for the year. First quarter looks like it was down 6% on a decently tough compare and if we have the guidance right for the full-year, the new guidance it looks like it's around mid-teens, that's down mid-teens. So I want to just clarify the earlier question about the trajectory. Does that mean I guess every quarter should be worse than the first quarter from here even though the compares get a little bit easier? Lee Belitsky -- Chief Financial Officer Well, I think the guidance referring to was back in November when we said that earnings could be down as much as 20% for the year. And I think that we kind of modified that a little bit in our year-end earnings call. We're pleased with the results coming out of the first quarter, as one year ahead of us still, so we baked in some improvement from the first quarter but we're largely sticking with the back part of the year the guidance that we issued for the full-year back in March. At this point, we're not taking additional improvements in the business running off through the rest of the year. Simeon Gutman -- Morgan Stanley -- Analyst OK. And then my follow-up. Ed mentioned that it sounds like the electronics and firearms, it probably doesn't anticipate as a headwind to until next year on the comp line but can you tell us how much benefit you're getting on the margin line and just related to the response, Lee, just as far as the big investments and that 20%, there was some contingency as well as real investments that you're making. Does that mean that the biggest part of your investment curve is abating? Ed Stack -- Chairman and Chief Executive Officer No, we are continuing to invest. We've got important margin pick up in the first quarter. Our expenses were very well controlled in the first quarter as well that helped the earnings as well. And we expect to continue to invest in the business in a meaningful way throughout the year both from a capital perspective which should accelerate as we get later in the year and from an expense perspective. Simeon Gutman -- Morgan Stanley -- Analyst And then just the margin lift that you're getting from those categories being a little bit less weight on the sales line? Ed Stack -- Chairman and Chief Executive Officer Yes. We haven't broken that out separately but it's helping. It is certainly helping our merchandise margin rates. Lee Belitsky -- Chief Financial Officer And we think that's something that we will continue throughout the balance of the year. Ed Stack -- Chairman and Chief Executive Officer Yes. Simeon Gutman -- Morgan Stanley -- Analyst Great. Thanks, Ed. Thanks, Lee. Operator Our next question comes from Brian Nagel from Oppenheimer. Please go ahead with your question. Brian Nagel -- Oppenheimer & Co. -- Analyst Hi, good morning. Thanks for taking my question. Nice quarter. So a couple question, first off with regard to the gross margins, maybe a follow-up to a couple of the prior questions but I think Ed you mentioned less promotional activity. So the question I have there is, was that more specific to Dick's or are we seeing now less promotional activity within the sector and along those lines, any comments on what had been described before are kind of a glut of inventory a lot of inventory within the channel? Ed Stack -- Chairman and Chief Executive Officer Well Brian, a couple of things. I think the majority of the inventory has been cleaned up which we talked a little bit about in the last call, so that's been cleaned up. I think there's been less promotional activity out in the marketplace from some of our competitors as they've got their inventory more in line.Also less from the brands on a direct basis they've gotten their inventories in line and it's been less promotional from us as our team has done a really very good job of controlling the inventory, as you can see our inventory was down and our sales were up. So we've done that, it helped drive the margins positive and we expect that to continue through the balance of the year. Brian Nagel -- Oppenheimer & Co. -- Analyst Got it. And then my follow-up question, different topic, so online continues to grow nicely for you, climbing to a higher percent of your sales. As the business has gotten or getting bigger, how should we think about the underlying profitability of that sales channel now versus the legacy business? Lauren Hobart -- President It's Lauren here. The profitability of the e-commerce channel has improved significantly since we've taken it in-house and we will continue to improve even further as we are able to leverage fixed expenses with growth. So we're very pleased with the profitability of the channel and expect to grow it significantly. Brian Nagel -- Oppenheimer & Co. -- Analyst OK. Thank you. Operator Our next question comes from Seth Sigman from Credit Suisse. Please go ahead with your question. Seth Sigman -- Credit Suisse Great. Thanks for taking the question. My first question is on gross margin. Obviously, the performance was better than expected. You talked about mix, and you talked about less promotions, I am trying to understand some of the other factors that may have contributed. So thinking about the accounting change around the gift card breakage and then also was there any benefit from the week shift on gross margin as in theory to give you an opportunity to leverage some of the costs in there? Lee Belitsky -- Chief Financial Officer There was a small benefit from the week shift on gross margin as well. The first week of February is generally a pretty heavy clearance period for us while which we lost from this quarter and we picked up the quarter beginning of May which is a pretty good margin quarter. So there is a little bit of a benefit. And with respect to the change in revenue recognition, really didn't impact the gross margin. Seth Sigman -- Credit Suisse Got it. And then to clarify on the guidance as we think about the outlook, I think you previously talked about gross margin down slightly for the year or you basically now saying slightly positive? Ed Stack -- Chairman and Chief Executive Officer On the merchandise margin, we think it will be slightly positive. Lee Belitsky -- Chief Financial Officer Yes, we still think that the gross margin overall including rent expense and shipping and fulfillment costs will be down somewhat for the year. Seth Sigman -- Credit Suisse OK. And then my follow-up question is around the Apparel business. Can you just speak about comp performance in that business through the quarter? And specifically, if you look at the private brand growth, I think you talked about up double-digits, obviously nice to see that progress. And then we're just trying to figure out how incremental is this growth versus what's coming from a share of shelf gains? Thank you. Ed Stack -- Chairman and Chief Executive Officer So for competitive reasons, we won't kind of talk specifically what's going on from apparel standpoint but we're pleased with the trajectory of the majority of the brands that we're doing business with. We think that it's going to continue to get better in our private brand as we said comp double-digits and we expect it will continue to outpace the company. Seth Sigman -- Credit Suisse Thank you. Operator Our next question comes from Steve Forbes from Guggenheim Securities. Please go ahead with your question. Steve Forbes -- Guggenheim Securities, LLC -- Analyst Good morning. Maybe a follow-up on that last one regarding private brands. How does the continued strength in the private brands themselves impact? How do you think about future space allocation decision across the product categories? Are you making significant changes today? I think you mentioned in the prepared remarks that CALIA is getting more premium space. So can you just provide some color and expand on that? Ed Stack -- Chairman and Chief Executive Officer Well, CALIA did get some additional premium space as we continue to drive these private brands. They will continue to get additional spaces. They outperform some of the other vendors that haven't performed nearly as well. We'll see that in our Gulf Apparel business, the Walter Hagen brand and Slazenger brand has continued to get additional space. CALIA's continued to get additional space, and so we will continue to allocate space as needed as these brands continue to grow. Steve Forbes -- Guggenheim Securities, LLC -- Analyst And is there a rollout plan in place where it is kind of evolving here given the strength and to be determined on how fast you can roll it out over time here? Ed Stack -- Chairman and Chief Executive Officer Well, there's a rollout plan, which we basically executed for this year and as we get further into the year will make plans of what we want to do next year as we continue to drive this business but with the space allocation is pretty much set for this year. Steve Forbes -- Guggenheim Securities, LLC -- Analyst And then just a follow-up regarding the premium footwear deck, I think we're now in year two of the initial rollout. So can you just touch on how those initial stores right looking back 24 months here on maturing relative to expectations, how they comping in footwear right first the chain average and just really how that performing in general? Ed Stack -- Chairman and Chief Executive Officer Well, we're not going to get that specific but we're very pleased with the premium footwear decks as can be evidenced by we continue to build them in the majority of the new stores. Steve Forbes -- Guggenheim Securities, LLC -- Analyst Thank you. Operator Our next question comes from Chris Horvers from JPMorgan. Please go ahead with your question. Chris Horvers -- JP Morgan -- Analyst Thanks, some technical difficulties there. Trying the cold weather question in a different way. You did have some other tailwinds in the quarter in terms of the Eagles and the Little League bat role would be fair to say that those tailwinds offset the headwinds from the late spring on the outdoor businesses? Ed Stack -- Chairman and Chief Executive Officer Yes, pretty much I would say that's fair. Chris Horvers -- JP Morgan -- Analyst OK. And then can you comment on the overall levels of inventory in the athletic marketplace? I mean clearly seasonal inventory should be pretty clean at least exiting winter as of the market fully cleaned and related to that you mentioned in encouraging conversation with UA about the content pipeline? What's your current expectation on when you might see a differentiated product in Dick's stores? Do you think it could be in time for the holiday or do you still think that's next year? Ed Stack -- Chairman and Chief Executive Officer Well, I think it depends on who we're talking about. We're not going to get that granular with brands but there will be some differentiated key product that we'll have going into the back-to-school season and holiday, and some of it is not differentiated from the entire marketplace but differentiated into the majority of the marketplace are kind of differentiated for us in a few other retailers that will have the product.And then some other brands will be a bit more into next year. Our private brands we continue to drive, we've got an outdoor brand that will be launching this year from a private brand standpoint. CALIA continues to grow. We continue to feel good about the Field & Stream product that we're putting out from an apparel standpoint. So all-in-all, we're feeling pretty good about our business. Chris Horvers -- JP Morgan -- Analyst And then last just some quick numerical questions. Any sense on what the occupancy deleverage was and what the incentive compensation headwinds were for the quarter? Lee Belitsky -- Chief Financial Officer We haven't disclosed those specific percentages at this point. Chris Horvers -- JP Morgan -- Analyst Understood. Thanks very much. Operator Our next question comes from Matt McClintock from Barclays. Please go ahead with your question. Matt McClintock -- Barclays Investment Bank -- Analyst Hi. Yes, good morning, everyone. Ed, I was wondering if you could talk private label just following up on Steve's question, thinking about what you're doing in the physical store to drive the growth of the private label business like giving CALIA more premium space. And then trying to think about the penetration of private label in your store versus online, what I'm trying to figure out is, it seems like you have a better ability to drive the private label business in the physical store by doing things like giving premium space but what are you doing online to drive that business and are the penetration rate similar? Thanks. Ed Stack -- Chairman and Chief Executive Officer So the penetration rates are a bit lower online than they are in the store right now and we're looking at ways that we can help grow that from a marketing standpoint what we're doing online. And we do think that as we continue to grow this in-store it will help the online business. Lauren Hobart -- President Yes. I would just add that some of our private brands actually have strong penetration online those that have a big social following, CALIA is one of them that it's a mixed bag they do penetrate well there as well. Lee Belitsky -- Chief Financial Officer And generally, more of the opening price point programs have lower penetration online in the areas where we are building brands have higher penetration online. Matt McClintock -- Barclays Investment Bank -- Analyst Perfect. Thank you so much for that color. Operator Our next question comes from Mike Baker from Deutsche Bank. Please go ahead with your question. Mike Baker -- Deutsche Bank Hi. Your guidance implies that the first quarter will be about 19% to 20% of your full-year earnings, it's really never been higher than like 18.5%, I think is the highest and it averages about 17%, including 1Q 2013 when you have the same calendar shift it was like less than 18%. Any reason why it should be a bigger percent of the year versus what it's been historically again lost of those calendar shifts, it wasn't quite as high either? Lee Belitsky -- Chief Financial Officer To be honest, we didn't look at it that way. We've just taken a look at our quarterly results and what we feel is going to be for the balance of the year. And we don't look at it that way. I couldn't even begin to answer it. Mike Baker -- Deutsche Bank All right. Let me ask it this way if I could. I guess I'm trying to understand, it seems like you did bump up your guidance, I guess, did you bump it up just by the beat in the first quarter or are you also flowing through some expectation perhaps from better merchandise margins? Lee Belitsky -- Chief Financial Officer We have largely unchanged our internal expectations other than share count going forward. Mike Baker -- Deutsche Bank OK. Understood. Thank you. That's helpful. Couple more follow-ups, the $0.10 benefit from the extra week, again going back a lot of time you have this calendar shift, it seems largely similar to the impact in 1Q 2013 when you adjusted the tax rate etc. So I guess the question is, is that $0.10 about in line with your plan for the extra week? Lee Belitsky -- Chief Financial Officer Yes. Mike Baker -- Deutsche Bank OK. Thank you. One more clarification and maybe you do not want to answer this but in the press release you did specifically call out a delayed start to the outdoor sports because of the weather yet earlier in the Q&A session here, you seem to downplay that and so you're not really expecting much of a pickup. I'm just trying to reconcile those two ideas if you did, in fact, see a delay as written in the press release why wouldn't we expect a recouping of those sales? Ed Stack -- Chairman and Chief Executive Officer Team Sports was late getting started, some of the water sports, paddle sports where we don't know the timing of that if they're going to come back to buy that or they're just going to use since it's kind of getting more toward the end of the season, they're not going to upgrade that equipment or make a change. We're not sure about that. Mike Baker -- Deutsche Bank So you haven't put any of that in the guidance obviously because your guidance is unchanged. OK, understood. Thank you. Ed Stack -- Chairman and Chief Executive Officer Correct. Operator Our next question comes from Sam Poser from Susquehanna. Please go ahead with your question. Sam Poser -- Sterne Agee -- Analyst Thank you for taking my questions. I've got a couple things. Number one, I mean your e-commerce, I guess how much of your overall business is being touched by digital right now? I mean sort of would you regard as omnichannel versus the pure e-commerce business that you're reporting in your numbers? Ed Stack -- Chairman and Chief Executive Officer I'm not sure I understand the question. Lauren Hobart -- President Do you mean that our people researching and using the website for beyond just purchasing how big, is that the question? Sam Poser -- Sterne Agee -- Analyst I mean are you able to see like with the mobile apps are coming into the store, they're looking on the mobile app and then how much interaction are your consumers having with the digital part of the omnichannel experience? Ed Stack -- Chairman and Chief Executive Officer What I'm going to talk about, specifically what that is but it's very significant. I mean most people's purchase decision start online and the app is very well used, they are coming to our site. A very significant part of our business is done because of the app or site. Sam Poser -- Sterne Agee -- Analyst Two other things. Are you going to be adding any kind of geo-tracking that you can then talk to your loyalty customers like specifically when they're in a store, near store saying you might like this while they're in the neighborhood kind of thing? Lauren Hobart -- President Yes, we do have some capabilities. We think that's an untapped opportunity that we can drive into more significantly as we develop the app further. Sam Poser -- Sterne Agee -- Analyst Thank you. And lastly, Lee just to clarify the week-to-week comp compare was based on the same weeks this year versus same weeks last year was down 0.9% is that correct? Lee Belitsky -- Chief Financial Officer No. Sam Poser -- Sterne Agee -- Analyst Or is it the 13 weeks ending the last day of fiscal Q1 this year was down 2.8%. Lee Belitsky -- Chief Financial Officer 2.5%. Sam Poser -- Sterne Agee -- Analyst 2.5% excuse me. Lee Belitsky -- Chief Financial Officer Yes. Shifted calendar comparable weeks was down 2.5%, unshifted was down 0.9%. Sam Poser -- Sterne Agee -- Analyst So thank you very much on continued success. Operator Our next question comes from Peter Benedict from Baird. Please go ahead with your question. Peter Benedict -- Robert W. Baird & Co. -- Analyst Hey guys, thanks for taking the question. Could you maybe elaborate a little bit more on what you're doing in the area of the supply chain to enhance speed and efficiency? Just curious a little more detail on what's going on there? Ed Stack -- Chairman and Chief Executive Officer Sure. Right now we are building out our e-commerce facility in the northeast, our e-commerce fulfillment facility in Upstate New York. That will be operational next year. I think that will get us closer to the customer from a centralized fulfillment perspective. Currently, we are fulfilling everything out of Louisville, Kentucky. All of our centralized fulfillment at Louisville in addition to our store fulfillment.So we believe we can hit all of the northeast within a day from our New York facility and we believe that we've got better execution really from our centralized fulfillment center that we do from the stores, so that should improve that. We're also beginning work to look at a West Coast fulfillment center, a centralized fulfillment center that will be working on for next year as well. Once again, those customers, they're serviced on the central perspective out of Louisville, Kentucky as well. So we're looking at both of those facilities for launch next year. Peter Benedict -- Robert W. Baird & Co. -- Analyst That's helpful. The West Coast would launch as well next year? Ed Stack -- Chairman and Chief Executive Officer Yes. Peter Benedict -- Robert W. Baird & Co. -- Analyst OK. And when you launch those types of things, do you get kind of some initial margin headwind just because of capacity and start-up expenses things like that and then they start to leverage maybe a year out? Is that how the cadence works? Ed Stack -- Chairman and Chief Executive Officer We haven't model it out but that's typically what we see when we built regional fulfillment centers. So that's probably a reasonable expectation for next year but we haven't worked through all the math on those yet. Peter Benedict -- Robert W. Baird & Co. -- Analyst All right. Now understood. Thank you. The purpose Locker test, just curious how broad that is and when we could see an expansion of that? Is that something we could see more broadly across your store base in time for the holiday? Lauren Hobart -- President So it's a very small test right now just a few stores and it's more of an operational test than anything else to make sure that we could do it. Our next part of this innovation cycle will be to actually see how important the Locker is versus getting the inventory into the front of the store so that we make a positive economic decision in terms of this investment. So I do not think you'll see a full rollout by holiday but we will continue to make improvements to the [inaudible] experience, and we are doing that in many stores. Peter Benedict -- Robert W. Baird & Co. -- Analyst OK. Thank you. And then just last question numbers one on the other income expense line that tends to show income but I guess this quarter it was an expense. So just curious if there's anything changing there and how we should think about that going forward? Thank you. Ed Stack -- Chairman and Chief Executive Officer Yes, that primarily has to do with the valuation of the long-term compensation investments and if the stock market goes down that value will go down has to flow through their income and if the stock market goes up that number will be a positive number. Peter Benedict -- Robert W. Baird & Co. -- Analyst OK. Thanks so much, guys. Operator Our next question comes from Omar Saad from Evercore ISI. Please go ahead with your question. Omar Saad -- Evercore ISI -- Analyst Thank you for taking my question. Good morning. I was hoping you guys could maybe give us an update on the price matching policy, what you're seeing our lot of customers taking advantage of that or is it going to bit more of a non-event as you've incorporated that in your customer experience and value proposition? Lauren Hobart -- President So the best price guarantee has actually become a very big core part of our marketing communications if you go into one of our stores. Now you'll see it's all over the front doors. It's all over the store and it provides people with a lot of assurance that they are getting the best prices. They don't have to leave the store to go find a better price.The fact of the matter is it has been more of a marketing vehicle than anything that's been hurting our margin because we were doing a lot of price matching before without taking credit for it and without assuring the customers that would be the case that we were creating some stress that the transaction level that has been eliminated, it's a very positive customer experience. It has not been very dilutive to margin. Omar Saad -- Evercore ISI -- Analyst Thanks. That's helpful and then just one quick follow-up. Maybe you could just expand a little bit more on the effects of the gun policy change. I know it will be a little bit a headwind for those kind of passionate firearm consumers but is there been any kind of positive effects of your decision to take that policy? Ed Stack -- Chairman and Chief Executive Officer Well there has, there's been a number of people who have started shopping us or so they're going to shop us more because of the policy. So I guess overall there's definitely been some benefit of people who have joined us so to speak because of the policy. Omar Saad -- Evercore ISI -- Analyst Thanks, Ed. Good luck, guys. Operator Our next question comes from Camilo Lyon from Canaccord Genuity. Please go ahead with your question. Camilo Lyon -- Canaccord Genuity Inc. -- Analyst Thanks. Good morning. Ed, you're clearly doing very well with CALIA continue to expand square footage to that brand that you just seems to also be doing well. I was wondering if you could just give us an update on Second Skin. I think you said that you would engage that brand to some reformatting and redesign for this year. Ed Stack -- Chairman and Chief Executive Officer Right. Camilo Lyon -- Canaccord Genuity Inc. -- Analyst And was also wondering if you feel that you need to associate that brand with either an athlete or social influence or like you did with CALIA to drive greater awareness? Ed Stack -- Chairman and Chief Executive Officer What we're looking at all those, do we want to have an influence or who would that be? How would we go about doing that? But the Second Skin line is being reconceptualized and will be launched probably sometime toward the end of 2019 beginning of 2020 is where we stand on that. We made some mistakes on that that we've talked about and we don't want to make those mistakes again. So we're going to take our time and make sure we do it right the same way as we did with CALIA. Camilo Lyon -- Canaccord Genuity Inc. -- Analyst Got it. And then I think you just-but just wanted to confirm, your views on allocating square footage to the brands that are performing, typically how frequently does that change? So I think you said that floor set for CALIA and some of the other private label brands are increasing, those are set for this year? Does that come up for discussion again as to how you plan those planograms next year? And at what point do you start to feel like if a better sense of increased or decreased space allocation to your private label brands? Ed Stack -- Chairman and Chief Executive Officer Well, we've got clear, where we want clear for this year. We can make these changes at any time that we see that there's an issue. You'll see some changes in the front-end of our store in a number of stores as we try to be more seasonally relevant if you will. We did a test last year putting outerwear, bringing to the front of the store, in the front couple of pads which are worked out very well. We're going to test that in a few more stores this year. So you will see some changes but you want to see anything significant don't have anything significantly planned other than what we've done so far this year and what we've got planned in the front of the store. Camilo Lyon -- Canaccord Genuity Inc. -- Analyst OK, great. And then just lastly, you did mention that you said this is so far too you have private label brand coming in the outerwear space, presumably for this fall, winter of 2018 season. From a merchandising perspective, are you thinking about having good, better, the best solution in this private label being your good option and if so does that impact and how should think about the impact to the existing brand that has been in that category. So you exit the brands or pulling back on the allocation of that square footage to something you're main different that how occupied that good level of category pricing. Ed Stack -- Chairman and Chief Executive Officer Well, I think how we look at this some brands will be in the good and better level, some will be in the better and best level I would put clear in the better and best level. This outdoor brand we're talking about is really going to be in the good level kind of more of the opening price point product and really isn't going to impact any major vendor. We think its white space that we hadn't covered in the past that we plan to cover with this brand. Camilo Lyon -- Canaccord Genuity Inc. -- Analyst Right. Good luck. Thanks for the comment here. Operator Our next question comes from Scot Ciccarelli from RBC. Please go ahead with your question. Beth Reid -- RBC Capital Markets -- Analyst Hey, good morning. It's Beth Reid on for Scot. Just wondering if you can comment on the pace of the business throughout the quarter presume in April was the most challenge from a weather perspective but just wondering how it compared to earlier in the quarter of February and March? Ed Stack -- Chairman and Chief Executive Officer We don't talk about what kind of how would happen with the quarter, we've laid out the what our comps were for the quarter on a both shifted and unshifted basis in what our earnings were but we were getting more granular on a quarter-by-quarter basis. Beth Reid -- RBC Capital Markets -- Analyst OK. And then just one more it seems like your store comps just still tracking in the negative load and the single-digit range. In your guidance have you baked in any improvement from here? Ed Stack -- Chairman and Chief Executive Officer We've laid the guidance out exactly what we had done for the year. Beth Reid -- RBC Capital Markets -- Analyst Thank you. Operator Our next question comes from Jim Duffy from Stifel. Please go ahead with your question. Jim Duffy -- Stifel Financial Corp. -- Analyst Thanks. Good morning. So as I actually some of the variables you guys did see positive trends in ticket inventories are clean, which I presume should help ticket going forward transaction was really the headwind in the quarter? As you look out any visibility the stabilization or positive inflection and traffic or transactions? Ed Stack -- Chairman and Chief Executive Officer Well, we kind of laid it out kind of the way that it is right now. We've got some headwinds in the firearms business and in the electronics business and as we said we don't think those are going to mitigate through the balance of this year. So they're going to be with us for the balance of this year. So we hope for some improvement. We haven't baked anything in. Jim Duffy -- Stifel Financial Corp. -- Analyst OK. And then Ed, I had a question for you on the License Sports business? Any thoughts you have to share on the impact of the larger role of fanatics in some of the bigger leagues? Ed Stack -- Chairman and Chief Executive Officer Now it'll be interesting to see how this plays out. Our License business has continued to be pretty good. We've been pleased with it and we'll see how this whole thing plays out as we work through this through the balance of the year and into next year. Jim Duffy -- Stifel Financial Corp. -- Analyst And then last one Lee, quickly just the shift impact on the e-commerce growth rate? Lee Belitsky -- Chief Financial Officer No meaningful impact, it's about the same shift and unshifted. Jim Duffy -- Stifel Financial Corp. -- Analyst Very good. Thank you, guys. Operator Our next question comes from John Kernan from Cowen. Please go ahead with your question. John Kernan -- Cowen & Co. -- Analyst Hey, good morning. Thanks for taking my question. Congrats on the progress. Ed Stack -- Chairman and Chief Executive Officer Thank you. John Kernan -- Cowen & Co. -- Analyst Just wanted to go to the SG&A line, I think SG&A dollars were up 7% in the first quarter, just wondering how much a trend as the year goes on? And then my follow-up is could you talk to the categories that drove the improvement in the e-commerce business, I think it was the best year-over-year growth you've reported in that business since 2016. So just expand a little bit on that on the big change in trend there from the fourth quarter? Thank you. Ed Stack -- Chairman and Chief Executive Officer Well, with respect to SG&A, I mean again we're not changing how we look at the rest of the year. So we're effectively maintaining our guidance, the balance of the year around sales margin and SG&A expense as well. So whatever you guys said baked into your models you can retain that. With respect to the e-commerce business, Lauren you want to take...? Lee Belitsky -- Chief Financial Officer The e-commerce business, for the most part, you would say within a tolerance range kind of mirrors what happened in the stores, so what you kind of see happening in the stores is what's happening from an online standpoint. Lauren Hobart -- President Yes. We've had very strong success with athletic footwear and apparel in the online business all year, and that was truing up in the quarter. Ed Stack -- Chairman and Chief Executive Officer I think we've obviously got better business online than we do in the stores at this point. I think it's really driven by better execution that we've had this year versus last year across a number of metrics that we track. So we're really excited about that. John Kernan -- Cowen & Co. -- Analyst Great. Thank you. Operator Our next question comes from Tom Nikic from Wells Fargo. Please go ahead with your question. Tom Nikic -- Wells Fargo Securities -- Analyst Hey, good morning everyone. Thanks for taking my question. Just a couple of quick balance sheet items, I think you had more borrowed on the revolver, then you sort of have it anytime I can see at the end of Q1. I was just wondering what drove that.And then just secondly, I think you said earlier that inventories were down, sales were up and you kind of expect that to continue going forward? Are you sort of explicitly saying you expect inventory levels to be down year over year at the remainder of the year? Thanks. Ed Stack -- Chairman and Chief Executive Officer We didn't specifically say that. We said the sales. We kind of guided from a sales standpoint and we think we can continue to keep inventory down but we haven't said that. And then the cash piece is really as part of the buyback we bought back a bunch of stock. Lee Belitsky -- Chief Financial Officer We've been buying back shares and I think there's a couple of timing issues around that calendar shift on when we pay the rent. The rent got paid before the end of the quarter this year. The monthly rent last year hadn't got paid. So there are just some timing things associated with calendar shift. Tom Nikic -- Wells Fargo Securities -- Analyst All right. Thanks. Thanks for the clarification. Best of luck to the rest of the year. Operator And ladies and gentlemen, our last question today comes from Patrick McKeever from MKM Partners. Please go ahead with your question. Patrick McKeever -- MKM Partners, LLC -- Analyst Thank you. Good morning, everyone. I know you didn't quantify the negative impact on firearm sales from the changes and selling in your sales policy that you made earlier this year and some of the changes in the assortment but I guess since that announcement you've also had Mossberg discontinue, I guess, its relationship with you. And then there was the NSSF thing as well. So my question is, I mean, are those incrementally negative to what you were originally thinking about with firearms for the year? And then have you had any additional fallout from any of your other manufacturers that you do business within that area and how are your relationships with some of the other firearms manufacturers? Ed Stack -- Chairman and Chief Executive Officer Well, we don't have the best relationship with the firearms manufacturers right now. And Mossberg did indicate that they weren't going to sell it on a direct basis. If we want, we can still buy that product from a distributor to have that in the assortment, product that they sell fit into our assortment. We're not sure we're going to do that but we have the ability to do that. As far as the National Shooting Sports Federation expelling, we didn't have a whole lot to do with them. They primarily run the shot show. We would go to the shot show. So we don't go to the shot show now. It's really not that big of a deal. Patrick McKeever -- MKM Partners, LLC -- Analyst Right. OK. And then just looking at your hunting business excluding firearms and also perhaps adjusting for some of the impact from the weather, how is that trending? How would you expect that to look through the balance of the year? Ed Stack -- Chairman and Chief Executive Officer Well, the hunt business is going to continue. It's been a challenging business for the last several years, as you know based on what some of the manufacturers have reported, they've had a very difficult time over the last couple of years. Our hunt business is going to continue to be challenged because that same consumer who is buying firearms is buying hunting boots and hunting apparel and all of that is baked into our guidance and we think that the whole category is going to continue to be challenged through the balance of the year. Patrick McKeever -- MKM Partners, LLC -- Analyst OK. Ed Stack -- Chairman and Chief Executive Officer And like I said it's all baked into the guidance. Patrick McKeever -- MKM Partners, LLC -- Analyst And then just within the Dick's stores, I mean, how committed are you to firearms and hunt longer-term? Ed Stack -- Chairman and Chief Executive Officer Well, that depends on a lot of things that have to be determined yet, and that is how the business plays out. How the manufacturers decide that they want to do business together. There's a number of things that are yet to be determined. The one thing that we do know is that it's continued to be challenged but as we reallocate some marketing dollars as we reallocate expenses to some other categories, we think it will continue to be margin accretive to us. Patrick McKeever -- MKM Partners, LLC -- Analyst OK. Thanks, Ed. Operator And ladies and gentlemen, at this time we'll conclude today's question and answer session. I'd like to turn the conference call back over to Mr. Ed Stack for any closing remarks. Ed Stack -- Chairman and Chief Executive Officer I would like to thank everyone for joining us on our earnings call and we'll look forward to talking to everyone with our second-quarter results. Thank you. Operator [Operator signofff] Duration: 59 minutes Call Participants: Steve West -- Vice President of Investor Relations Ed Stack -- Chairman and Chief Executive Officer Lauren Hobart -- President Lee Belitsky -- Chief Financial Officer Michael Lasser -- UBS Investment Bank -- Analyst Robby Ohmes -- Bank of Merrill Lynch -- Analyst Simeon Gutman -- Morgan Stanley -- Analyst Brian Nagel -- Oppenheimer & Co. -- Analyst Seth Sigman -- Credit Suisse -- Analyst Steve Forbes -- Guggenheim Securities, LLC -- Analyst Chris Horvers -- JP Morgan -- Analyst Matt McClintock -- Barclays Investment Bank -- Analyst Mike Baker -- Deutsche Bank -- Analyst Sam Poser -- Sterne Agee -- Analyst Peter Benedict -- Robert W. Baird & Co. -- Analyst Omar Saad -- Evercore ISI -- Analyst Camilo Lyon -- Canaccord Genuity Inc. -- Analyst Beth Reid -- RBC Capital Markets -- Analyst Jim Duffy -- Stifel Financial Corp. -- Analyst John Kernan -- Cowen & Co. -- Analyst Tom Nikic -- Wells Fargo Securities -- Analyst Patrick McKeever -- MKM Partners, LLC -- Analyst More DKS analysis This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. 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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || Cryptocurrency funds down nearly 30 percent in March as slump persists: index: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Cryptocurrency funds were down 29.2 percent in March amid an ongoing slump caused by increased scrutiny from global regulators of the virtual assets, according to a new index launched by data provider BarclayHedge. The Barclay Cryptocurrency Traders Index was down 43.1 percent in the year to date, after three consecutive monthly losses, BarclayHedge said on Wednesday. The Cryptocurrency Traders Index, started in 2018, is an equal-weighted index of the monthly returns of 19 funds that trade bitcoin and other cryptocurrencies. Volatile bitcoin hit an all-time high of just under $20,000 in December 2017 and has since fallen to as low as $5,920. On Wednesday, it was up 4.2 percent on the day at $8,232 (BTC=BTSP) on the BitStamp platform. Cryptocurrencies have been impacted this year by fears of a crackdown from regulators and concerns that they have been in a speculative bubble that is now deflating. "Folks have their opinions, but no one really knows if it's a bubble or a correction," said Sol Waksman, president and founder of BarclayHedge. Data from financial technology data tracker Autonomous NEXT also confirm the bear trend. "There has been a slow-down in ICO (initial coin offering) proceeds that we track ($1 million and over), with a dip in February and a slight pick-up in March in terms of fundraising," Autonomous NEXT said in a report also published this week. ICOs are a fund-raising mechanism in which start-ups create currencies or tokens and sell them to investors. "There is also definitely a slow-down in terms of ICOs starting in March. So it seems that the public crowd-funding part of the equation is indeed getting slower, looking like the summer of last year, rather than the frenzy of the fall/winter," London-based Autonomous NEXT said. The number of new funds in the company's crypto fund tracker has also grown modestly in 2018, it said. Autonomous NEXT said it is tracking 251 crypto funds. "The number is not growing as quickly as we'd expect - partly because it's a more difficult environment to raise, and partly because folks are being less vocal about what they're doing," the company said. (Reporting by Gertrude Chavez-Dreyfuss, Editing by Rosalba O'Brien) || Bitcoin down again as Investors shun progress: Bitcoin slipped 2.41% on Tuesday, following Mondays 0.18% fall, to end the day at $8,462. The day was all about the Bitcoin Cash hard fork, or so investors thought, with the negative reaction to news from South Korean regulators at the end of last week and the start of this week continuing to overshadow the advancements and enhancements made across the cryptomarket. An early rise through to a morning high $8,855.7 saw Bitcoin fall short of the 38.2% FIB Retracement Level of $8,890 and the days first major resistance level at $8,944.4 before the afternoon sell-off took its toll, Bitcoin failing to touch $9,000 level for a 4 th consecutive day. The afternoon sell-off was kinder to Bitcoin than its peers, Bitcoin pulling back through the 23.6% FIB Retracement level of $8,628 to an intraday low $8,415, leaving the days first major support level at $8,330.9 untested and holding well above $7,000 levels last struck on 19 th April. For those wondering where the smart money should have gone ahead of the Bitcoin Cash hard fork, Bitcoin is up just 26% since the early April $6,500.2 low, while Bitcoin Cash is up 108.02% from early Aprils $600.1 low and the divergence would have been a lot more if it hadnt been for the material shift in investor sentiment at the turn of the week. Bitcoins still the star and, with Bitcoin Cash sitting in 4 th place by market cap, theres still a long way to go before Bitcoin Cash can knock big brother off its perch. Get Into Cryptocurrency Trading Today At the time of writing, Bitcoin was down 3.12% to $8,203.2, with Tuesdays sell-off spilling over to the early hours of this morning. Bitcoin tumbled through the days first major support level at $8,299.43 and the second major support level at $8,136.87 to a morning low $8,100, before recovering to $8,200 levels, with Bitcoin not out of the woods just yet this morning, the partial recovery failing to pull Bitcoin back through the days first major support level at $8,299.43. Story continues While the morning sell-off has abated in the last hour, Bitcoin will need to move back through the days first major support level at $8,299.43 to support a run at the mornings $8,492.7 high to bring the 23.6% FIB Retracement Level of $8,628 and the days first major resistance level at $8,740.13 into play, though broader market sentiment will need to see a vast improvement for selling pressure to not lead to a pullback at the 23.6% FIB. Failing to move back through to $8,300 levels in the middle of the day could see another afternoon sell-off, which would bring sub-$8,000 support levels into play. The good news for Bitcoin investors is that Bitcoin has a greater chance of being classified as a true cryptocurrency by regulators than many of its peers, the bad news is that exchanges are unlikely to ditch the rest to avoid falling under the purview of the likes of the SEC. Bitcoin Cash is winning the battle for now, but the true battle will be in the playing fields and adoption as an alternative to fiat money. Bitcoin Cash has certainly made a move, putting the ball in the court of Bitcoins core developers. Elsewhere in the markets, Bitcoin Cash recovered from heavier losses early on, down 5.83%, with DASH down 5.66% in whats another sea of red across the top of the crypto board. BTC/USD 16/05/18 Hourly Chart Buy & Sell Cryptocurrency Instantly This article was originally posted on FX Empire More From FXEMPIRE: Corn Breaks Out but Soybeans Lag Following Record Crush Data Commodities Daily Forecast May 16, 2018 Cancellation of Talks Between North, South Korea Heightens Geopolitical Risks Price of Gold Fundamental Daily Forecast Trader Reaction to $1296.20 Will Tell Us if North Korea Situation is Big Deal Natural Gas Price Fundamental Daily Forecast EIA Storage Report Range is 89 Bcf to 105 Bcf USD/JPY Fundamental Daily Forecast Is Yen Being Supported By Renewed Fears Over North Korea? || I went to the exclusive after-party where cryptocurrency investors blew off steam with drugs and naked dancers: The Box Getty Images I went to an after-hours cryptocurrency party at a burlesque club attended by those visiting New York for a massive blockchain conference called Consensus. It was wild. At 2 a.m. on Thursday, a crowd of people, mostly men, are lined up outside an exclusive burlesque nightclub, The Box, in downtown Manhattan. "Who are all these people?" a dancer in spiky gold stilettos asks a security guard. "There's some sort of cryptocurrency conference in town," he tells her. "What the hell is cryptocurrency?" "Like bitcoin and stuff," he says. The group in question had just come from a cruise ship, the Cornucopia Majesty, where a pair of Aston Martins were awarded to two guests through random selection — glowing bracelets were distributed at the start of the cruise, and those lucky enough to receive the bracelets that glowed the longest were gifted the sports cars. The crowd is visiting the city to attend Consensus, the sprawling blockchain conference that has attracted nearly 8,500 people. Inside the club, where photos aren't allowed, women in corseted lingerie deliver bottles of vodka and Champagne to tables of reclining men in suits amid a fanfare of sparklers. Onstage, two naked women simulate fellatio as the crowd roars in approval. At one point, one of the women eats something seemingly designed to look like feces from the other's rear. A half-naked man wearing an enormous bear head gyrates against a woman whose breasts are ensconced in two clear plastic Madonna-style triangles. Bags of cocaine are passed underhand. "If I offer you coke, do you promise not to write about it?" a woman asks. The creator of an influential cryptocurrency explains the power of decentralized technology as a woman in a G-string undulates on the bar top beside us. The mood is celebratory. Many of the people in attendance have gotten rich in the past decade through a technology often derided by the public. For many of them, the media's newfound captivation with cryptocurrencies is a form of validation: It is satisfying to be right. As one man in attendance puts it: "Getting rich on crypto is something that most of us never expected. We weren't in it for the money. It's like, what do you do when you suddenly have a bunch of money that you never even thought you would have?" For some, the answer to this question lies in an MDMA-fueled night of bottle service and entertainment at an exclusive adult club. But for others, the money is a windfall to be spent on technologies that they believe will transform not only the internet, but the underpinnings of society itself. Story continues Around 3 a.m., a nerdcore rapper who goes by the name YTCracker takes the stage to perform two cryptocurrency-themed rap songs, "Bitcoin Baron" and "Crypto Illuminati." He flew into New York expressly to perform at this event. He raps: Told you to snap up a modest position Of currency minted from factoring digits Which of you listened? Which of you listened? In the red velvet booths below, his listeners raise glasses of Champagne. "Blockchain is going to change the world, man," a man tells me, exuberant. "This is only the beginning." NOW WATCH: How to avoid having your computer hacked See Also: Lamborghinis lined the street outside a massive NYC cryptocurrency conference, but it turns out they were only staged rentals HTC just unveiled a blockchain-powered smartphone designed to help reinvent the internet Coinbase just rolled out 4 new crypto trading tools, and they offer a big clue to where the platform might be headed next View comments || TJX Stock Is Set to Soar as Bon-Ton Goes Bust: After several years of making steady market share gains at department stores' expense, off-price giantTJX Companies(NYSE: TJX)stumbled last year. Through the first three quarters of fiscal 2018 (which mainly corresponded to the 2017 calendar year), comp sales rose a little more than 1%, compared to 5% full-year comp sales increases in fiscal 2016 and fiscal 2017. As a result, TJX stock didn't participate in the broader 2017 market rally.
However, TJX got back on track in the fourth quarter, posting asolid 4% comp sales increase. This drove double-digit earnings-per-share growth.
In 2018, TJX will benefit from a lower tax rate and easier year-over-year comparisons. It is also likely to be one of the biggest beneficiaries ofBon-Ton Stores'(NASDAQ: BONT)pending liquidation. This could send TJX stock to new heights later this year.
Bon-Ton never reported full-year results for 2017 due to its early February bankruptcy filing, but it brought in $2.36 billion of revenue in the first 11 months of the fiscal year. This means that full-year revenue probably came in just north of $2.5 billion.
Bon-Ton Stores recently filed for liquidation. Image source: Bon-Ton Stores.
That's just a fraction of TJX's full-year revenue of $35.9 billion or even its domestic revenue of $27.4 billion. Nevertheless, it's a substantial sum -- and it's going to be up for grabs, now that Bon-Ton has beenforced to liquidaterather than restructure in bankruptcy. If TJX can pick up a big chunk of this business, it would have a meaningful positive impact on revenue and earnings growth beginning around mid-year.
Fortunately, TJX is well positioned to capture revenue that would otherwise have gone to Bon-Ton, due to its massive retail footprint. In fact, 42% of Bon-Ton's locations arewithin a mile of a TJX store-- including the T.J. Maxx, Marshalls, and HomeGoods chains -- and 74% are within five miles of a TJX store.
By contrast,Ross Stores(NASDAQ: ROST)-- the No. 2 off-price retail company -- has far less store overlap with Bon-Ton. Barely more than a quarter of Bon-Ton's stores are within five miles of a Ross Dress for Less. That's because Ross Stores is still in the middle innings of its growth trajectory in the Midwest and has barely any presence in the Northeast.
TJX also has plenty of merchandise overlap with Bon-Ton. Indeed, TJX stocks high-quality department store merchandise, but sells it at a big discount.
Bon-Ton's bankruptcy will also help TJX on the supply side of its business. Whereas Ross Stores makes extensive use of "packaway" merchandise purchased at the end of a season and held until the beginning of the same season a year later, TJX mainly focuses on buying excess merchandise that becomes available during the season and getting it into stores quickly.
Bon-Ton's liquidation will make more merchandise available for TJX this summer. Image source: Marshalls.
This strategy tends to deliver its best results during periods of disruption. The liquidation of a sizable department store chain would certainly count. Merchandise that would have gone to Bon-Ton will be available at a discount from suppliers over the next several months.
Indeed, the next few quarters could be particularly good for TJX because there will be ample inventory of low-priced merchandise despite a strong economy and a favorable competitive environment. Typically, the best inventory availability comes at times when the economy is struggling and retailers are all offering huge discounts to drive customer traffic and sales.
TJX's forecast for the new 2019 fiscal year calls for adjusted earnings per share of $4.73 to $4.83, up from $3.85 last year. Most of this EPS growth will be driven by tax savings related to corporate tax reform. Based on this guidance range, TJX stock currently trades for about 17 times earnings.
However, this forecast is based on an assumption of 1% to 2% comp sales growth. TJX tends to provide extremely conservative sales forecasts that it can then exceed. Fiscal 2018 was unusual in that the company matched (rather than beating) the high end of its sales guidance.
The combination of easy comparisons and market share gains from the Bon-Ton liquidation should enable TJX to get comp sales growth back to a mid-single-digit pace this year. That could boost EPS to $5 or more and get investors more excited about TJX stock -- potentially pushing the share price into triple-digit territory.
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Adam Levine-Weinbergowns shares of The TJX Companies and is long January 2019 $50 calls on Ross Stores and short January 2019 $90 calls on Ross Stores. The Motley Fool recommends The TJX Companies. The Motley Fool has adisclosure policy. || Apple's Next iPhone Chip Is Now in Mass Production: Arguably the most important component inside of a smartphone is the applications processor. This controls how quickly and efficiency apps run, how smoothly 3D games run, and the quality of the photos and videos that users take. Each year,Apple(NASDAQ: AAPL)makes substantial advances in the performance and capabilities of the chips that power its latest iPhones, which ultimately helps Apple build devices with new and exciting features to get people to buy its latest devices.
According to a new report fromBloomberg, which generally provides accurate information about Apple products, Apple's contract chip manufacturing partner,Taiwan Semiconductor Manufacturing Company(NYSE: TSM), has begun cranking out Apple's latest A12 processor using the former'snew 7nm chip manufacturing technology. Apple's currentA11 Bionic chipinside of the company's latest iPhones is manufactured using TSMC's 10nm technology.
Image source: Apple.
Since Apple likely intends to launch its latest iPhones in just three months (assuming a typical product announcement in September), it makes sense that TSMC would be cranking the A12 out now. Indeed, once those chips are manufactured, they need to be sent to Apple's contract manufacturers who will then assemble all of the required components into finished devices -- a process that can take a while.
The Apple A12 will clearly allow Apple to market new levels of mobile performance and features, but a question that chip investors might be interested in is the following: What does the mass production of the A12 mean for TSMC?
Let's dive in.
On its most recent earnings conference call, TSMC said that it expects its revenue from 7nm product shipments to make up 10% of its total revenue for 2018. The current average analyst estimate for TSMC's 2018 sales is $35.6 billion, so this means that TSMC expects to sell about $3.5 billion worth of 7nm wafers to its customers.
Now, Apple won't be the only company to use TSMC's 7nm technology this year -- Apple rival Huawei is likely to use it to manufacture its next-generation high-end mobile applications processor -- but it'll certainly be, by far, the largest buyer of 7nm wafers for the foreseeable future. TSMC's prediction that 7nm will make up 10% of overall revenue in 2018 when that figure was 0% for the first two quarters of 2018 means that TSMC is expecting Apple to buy alotof 7nm chips in support of the next-generation iPhone ramp up.
Keep in mind, though, that while Apple will be buying a lot of 7nm chips, it's in the process of ramping down its 10nm production volumes. In fact, on TSMC's most recent earnings call, CFO Lora Ho said that the company's inventory increased to 63 days of sales "due to an increase of raw wafer[s] and the 10nm wafer pre-build before the capacity is converted to 7-nanometer."
In other words, TSMC is going to be dramatically reducing its 10nm production capacity and reusing much of the factory space and equipment that's used to build those chips to manufacture new 7nm chips. So, TSMC's 7nm ramp up for Apple isn't all upside for the company -- 7nm revenue should increase dramatically but much of that growth will be offset by a big reduction in 10nm chip sales.
Ultimately, TSMC beginning the production of Apple's A12 chip isn't groundbreaking news, but it's a sign that the development of both Apple's A12 chip as well as TSMC's 7nm technology went as expected to support Apple's upcoming iPhone launch. What'll matter to both TSMC and Apple investors shortly is how well Apple's new iPhones powered by the A12 chip will be received by consumers.
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Ashraf Eassahas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has adisclosure policy. || Why AT&T, Inc. Shares Fell 6.9% Lower Today: Shares ofAT&T(NYSE: T)plunged on Thursday morning following the release of disappointing first-quarter results. The telecommunications giant missed Wall Street's estimates across the board, sending the stock 6.9% lower as of 11:40 a.m. EDT.
In the first quarter, AT&T's top-line revenue fell 3.6% year over year to land at $31.8 billion. Adjusted earnings rose 15% to $0.85 per share, but analysts had been expecting earnings near $0.87 per share on sales in the neighborhood of $39.3 billion.
AT&T added 2.2 million net new subscribers to its domestic wireless networks in the first quarter. But that gain included the addition of 4.7 million connected devices, better known as connections under the Internet of Things banner. The company added just 300,000 prepaid subscribers and lost 400,000 customers under the flagship category of postpaid contracts.
Image source: Getty Images.
AT&T's TV service business also failed to impress investors, losing subscribers for the DirecTV satellite service and holding steady in the fiber-based U-verse segment.In a sign of the times, streaming video service DirecTV Now reported 27% subscriber growth during the quarter while tripling in size compared to the year-ago period.
At this point, AT&T's stock prices have fallen 15% lower in 2018. I don't see any reason to believe that the negative trends will end anytime soon and would hesitate to recommend AT&T as an investment. This dinosaur is struggling to preserve an outdated business model, and it won't work in the long run.
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Anders Bylundhas 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 Hormel Foods Corp. Wouldn't Be a George Soros Stock: George Soros never met a risky investment he didn't like. The Hungarian-American investing guru likes to pour huge investments into volatile securities, exploit whatever under-appreciated market quirk that he identified before other investors, then make a quick exit with a solid profit. Or loss, in some casses --Soros is also known for admitting his mistakesand caching out at a loss rather than following a failed investment down the drain.
This hit-and-run strategy has worked exceptionally well for George Soros over the years, making him one of the wealthiest and most successful investors in history. But he was never a patient investor, so you won't find him on the hunt for excellent dividend stocks with stable long-term prospects.
That's why Soros is unlikely to place a big bet onHormel Foods(NYSE: HRL). The slow-growing food products giant is just not his style. For the rest of us, however, Hormel is a fantastic income stock for the long run.
Yum! Image source: Getty Images.
From Spam and Muscle Milk to Skippy peanut butter and Wholly Guacamole, Hormel manages some of the best-selling food brands in American grocery stores.
This is about as stable and mature a business as you can imagine. Hormel's top-line revenues have increased by just 9% over the last five years. On the other hand, it's a veritable cash machine -- 9.5% of Hormel's incoming sales are converted into free cash flows at the end of the day.
And here's the best part. Hormel's leadership has a long-standing history of shoveling that cash back into the pockets of shareholders.
The company has increased its dividend payouts in each of the last 51 years, without fail. The quarterly payouts have grown 121% larger over the last five years and 838% bigger in two decades. Hormel likes to funnel approximately 40-45% of its free cash into the dividend budget and is also an opportunistic buyer of its own shares as market conditions dictate.
Longtime Hormel investors have pocketed a 754% return over that two-decade span, or 1,140% if they reinvested dividends along the way. It's been a long, slow, predictable grind with market-crushing results. George Soros hates investing like this, but it works just fine for us mere mortals.
Not George Soros' cup of tea, but that's alright; Soros made his money with a risky strategy requiring tons of research and hands-on involvement. Always keep your finger on the trigger, in case it's time to make a trade.
Hormel represents the exact opposite investment type. It's a stock you can buy today and leave alone for many years, maybe even decades. Management will find ways to stay relevant, whatever happens to the food market next, and you can justlet those growing dividends do their job.
Knowing your money is invested in a stable, predictable, steadily growing stock such as Hormel should allow you to get way more shut-eye than what George Soros is probably used to with his own investing style.
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Join our Telegram Channel to get more:https://goo.gl/Hk7r39 || STREAMYCOIN (500 SC) AIRDROP Token (50 SC TOKENS PER REFERRAL) ROUND 2 #AIRDROP #BTC #xrp #freetoken #Crypto #ETH #bounty #freetoken #airdrops #Blockchain #ripple #tron #trx #binance #huobi #airdrop #cryptogaming #SCTokenhttps://docs.google.com/forms/d/e/1FAIpQLSfm5L8BOGIhOWEDmSjfpBBp3OYKSoQ_xHRCVrYISmJBL44lJQ/viewform … || Current price of Bitcoin is $9247.00 @Chain || Signal 6384, 26th today, at 04-Jun 20:56 UTC
#OST at #BINANCE
Buy: 0.00001946 - 0.00001986
Current ask: 0.00001966
Target 1: 0.00002005 (1.98%)
Target 2: 0.00002064 (4.98%)
Target 3: 0.00002163 (10.02%)
Type: SHORT TERM
#Blockchain #Bitcoin #Cryptocurrencies #Trading || Current price of Bitcoin is $7080.00. || As of June 4, 2018 at 11:50PM, 1 BTC equals 7486.2666 USD. || USDT_ETH price INCREASED to $392.000000 on #poloniex. New alerts (+/- 4.000 pct) set at: UP: $407.680000 - DOWN: $376.320000 $eth #eth #ethereum #crypto $crypto $btc || Meet the Dapp Market: A Twist On Open Source Is Winning Developers https://ift.tt/2LlBG7F Via Coindesk
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Trend: down || Prices: 7653.98, 7678.24, 7624.92, 7531.98, 6786.02, 6906.92, 6582.36, 6349.90, 6675.35, 6456.58
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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)]
Big China bitcoin exchange says no government pressure on outflows: By John Ruwitch SHANGHAI (Reuters) - The head of a major bitcoin exchange in China says few people there use the cryptocurrency to get around rules on how much money they can take out of the country, and despite a publicized meeting with the central bank last week the exchange, BTCC, hasn't been told explicitly to check capital outflows. Bitcoin's price took a steep dive on Friday after China's central bank cautioned investors to take a rational and careful approach to investing in the digital currency. The price had surged to record highs. The central bank's comments come as Beijing escalates a campaign to check capital outflows and slow the depreciation of the yuan currency <CNY=CFXS>, which lost nearly 7 percent of its value against the U.S. dollar last year. With bitcoin's soaring price and the relative anonymity it affords, some believe the digital currency was becoming an attractive option for tech-savvy Chinese to hedge against the yuan and circumvent rules that limit individuals to $50,000 of foreign exchange each year. The Shanghai office of the People's Bank of China (PBOC) said on Friday it had met with BTCC to understand the platform's operations, highlight the risks, remind the exchange to abide by the law, and "urge the platform to carry out self-examination and corresponding clean-up and rectification" according to law. Asked if BTCC had received direct pressure on outflows, CEO Bobby Lee, who founded BTCC in 2011, said: "No. Not as of yet... Nothing verbal or written to us." In Beijing, the PBOC told two of China's other big bitcoin exchanges, Huobi and OKCoin, not to mention the depreciating yuan when advertising their platforms, the influential news outlet Caixin said, citing people familiar with the meeting. Star Xu, CEO and founder of OKCoin, confirmed there had been a meeting of the PBOC and leading bitcoin exchanges on Friday to discuss the operation of trading platforms. Story continues "The industry can benefit from balanced, risk-based regulation and/or oversight, and we look forward to further constructive discussions with the regulators and industry participants," Xu told Reuters in an emailed comment. Huobi's chief operating officer Zhu Jiawei said in an emailed response to Reuters queries that Huobi plans to work with other bitcoin firms to establish an alliance and rules to self-govern the industry. While it's possible to buy bitcoin with yuan and then sell it abroad for a foreign currency, BTCC's Lee said "to be honest, not many" people were doing it because of the cost. The renminbi price of bitcoin carries a premium to the price in other currencies, he noted. In addition, buy or sell orders in the 100,000 yuan ($14,423) to 1 million yuan ($144,233) range, and up, would influence the bitcoin spot price and affect the transaction. "For that range, you're not going to be able to do it at a good rate. You're going to lose 10 percent of your money," Lee said. "Maybe the individual household might buy 20,000 more dollars worth of bitcoin than their $50,000 (forex) quota, but that's a drop in the bucket." Still, Lee said various indicators, like active trading accounts, new users, actual deposits and withdrawals, were "very active" in China, and some key BTCC metrics were at "all-time highs", though he declined to be more specific. NOT LEGAL TENDER Bitcoin is not regulated in China, but the PBOC has declared it is not legal tender, and is instead a "virtual good", Lee said. That puts it in the same category as other goods. "If I pack a suitcase and take a plane to the United States, do the clothes, does the computer in my suitcase, does the watch I wear count towards capital flight?" he said. "Where do you draw the line?" He said no new or planned rules regarding bitcoin were discussed in the latest meeting with the PBOC, and he estimates it will be two to three years before China regulates bitcoin. In a statement on its website, BTCC, which calls itself the world's longest running bitcoin exchange, said it regularly meets with the PBOC and "work(s) closely with them to ensure that we are operating in accordance with the laws and regulations of China." Exchanges in China say they account for more than 90 percent of global bitcoin trading, which would help explain why a shift in Chinese demand would sharply affect the price. But many bitcoin experts say Chinese exchanges overstate their volumes in the digital currency, and attribute sharp moves to speculation by, for example, U.S.-based hedge funds. (Reporting by John Ruwitch; Editing by Ian Geoghegan) || Anti-establishment wave to help push blockchain into real world in 2017: By Jemima Kelly and Anna Irrera
LONDON/NEW YORK (Reuters) - A wave of anti-establishment sentiment sweeping the Western world is likely to help push blockchain - the technology that gave birth to the renegade digital currency bitcoin - out of cyberspace and into the real world in 2017.
Blockchain, which allows the web-based currency to function, has attracted some big backers who have risen to prominence partly because of their rejection of traditional power structures - like bitcoin itself.
Now they are looking at a wide range of new uses for the technology, with those outside the realm of finance expected to grow most.
For example, Italy's biggest opposition group, the 5-Star Movement, wants blockchain to be used in streamlining public services. In the United States, President-elect Donald Trump has a number of enthusiasts for the technology in his inner circle.
Experts caution that blockchain still needs several years of experimentation and development, much like the early days of the internet, and say some projects will never work.
Nevertheless, in an ironic departure from blockchain's libertarian origins, the very establishment that early supporters hoped it would displace is also jumping on the bandwagon.
Many of the world's biggest banks and corporations are trying to harness the technology to make the likes of transacting cross-border payments, issuing debt and recording health data more efficient. Even Britain's Conservative government is keen to get in on the act.
Blockchain allows for transactions and data transfers to be completed in seconds through a peer-to-peer computer network, with no need for a third party. It has therefore attracted those who distrust established authority, such as the central banks that issue traditional currencies.
This is particularly the case in its first implementation, bitcoin, which outperformed all conventional currencies in 2016. Iceland's Pirate Party, the country's joint second-biggest party, wants bitcoin accepted as legal tender.
GRAPHIC - Banking on blockchainhttp://tmsnrt.rs/2ekG6wf
GRAPHIC - The bitcoin economyhttp://tmsnrt.rs/1W1E8mw
SPIRIT OF 2016
Notwithstanding the corporate interest, blockchain reflects the spirit of the past year when disgruntled Britons rejected the European Union, Italians brought down their prime minister and Americans elected Trump.
"A global and open blockchain ... lends itself very well to current anti-establishment sentiment," said Jon Matonis, an economist and founding director of the Bitcoin Foundation. "The general theme is removing the role of a third-party auditor or enforcement agency."
Still, it was the financial services industry that moved fastest on blockchain development in 2016, seeking ways to reduce costs and cut the time it takes to settle transactions.
Some of these applications are expected to move from the laboratory and into operation this year. But 2017 also looks likely to be the year when other sectors, both public and private, find new "use-cases" via which they can adopt the technology.
"You're still going to see more and more use-cases and resources being put into financial services, so that pie will still grow. But a larger percentage of use-cases ... will be non-financial," said Nick Williamson, CEO of Credits, a London-based blockchain infrastructure provider.
Williamson said countries were looking at using blockchain for improving transparency and accountability in public services. The British government, for example, is examining whether it could help to track and distribute welfare and pension payments.
ANTI-ESTABLISHMENT POLITICS
In Italy, the 5-Star Movement - which presents itself as a clean alternative to mainstream parties dogged by corruption probes - has called blockchain a "fundamental topic" that could bring about more trust in the public sector.
5-Star plans to propose a law in the Lazio region this month forcing the local government to use blockchain in streamlining and bringing greater transparency to some of its activities, according to a draft seen by Reuters.
If successful, this would be the first law in Italy to incorporate the use of blockchain in government. The group also wants to introduce the technology in a regional healthcare reform, 5-star councillor Davide Barillari told Reuters.
In the United States, the blockchain sector hopes projects will gain momentum thanks to support from the incoming Trump administration. They say the technology could help run public-sector processes more efficiently, through better tracking of government agencies' spending or reducing welfare fraud.
As a property billionaire, Trump's anti-establishment credentials are open to question but he has presented himself as a political outsider, and has appointed blockchain and bitcoin champion Congressman Mick Mulvaney as budget director.
Mulvaney, who co-founded the Blockchain Caucus in Congress in September to allow lawmakers to coordinate policies on using blockchain, calls the technology a "tremendous revolution".
Trump has also chosen Goldman Sachs president Gary Cohn, whose bank has invested in blockchain, as director of the National Economic Council. Billionaire tech investor and bitcoin enthusiast Peter Thiel is a member of the transition team.
"MYSTICAL CAPABILITIES"
For all this support, some feel blockchain has been over-hyped. "It took on quite mystical capabilities this (past) year. I kept reading things on the internet about how it would solve poverty, eliminate hunger," said Dave Birch, a director of innovation at consultancy Consult Hyperion.
"A lot of people said they would get into blockchain because they thought it was sort of magic."
Many in the financial technology industry, Birch included, say it is important not to expect too much too soon.
"Many blockchain platforms announced the beginning of projects in 2016 that will never be completed. In some cases, the technology simply didn't work. In others, implementation is taking longer than expected," said Adam Krellenstein, co-founder of blockchain start-up Symbiont.
Still, experts hope the doubts will be dispelled as some of the smaller-scale projects - especially in the financial services sector, which has poured hundreds of millions of dollars into blockchain - are put into operation.
"2016 was a year of 'proofs of concept'; 2017 is much more likely to be a year of implementations," said IBM's global head of financial markets in London, Keith Bear.
"CRITICAL MASS OF UNDERSTANDING"
Blockchain is unlikely to change the world fundamentally this year, but awareness of it is expected to grow and this should speed up development.
Alex Tapscott, founder of investment firm Northwest Passage Ventures, believes blockchain is a "general purpose technology", whose most lasting impact will not be in the financial sector.
He sees blockchain enabling decentralized applications to run peer-to-peer services such as ride-sharing, without the need for centralized businesses such as Uber to run operations.
"2016 was a coming-out party of sorts," he said. "2017 will see the technology reach a certain level of critical mass of understanding."
(Reporting by Jemima Kelly in London and Anna Irrera in New York; editing by David Stamp) || Bitcoin Activity in India Has Doubled Since the Banknote Ban: Early in November, Indiaabolishedthe 500 and 1000 rupee banknotes in an effort to fight corruption and so-called "black money". Since then, interest in Bitcoin appears to be increasing in the Asian country based on a variety of different metrics. Although there was already a vibrant Bitcoin community in India, the recent move to clamp down on illegal income and tax evasion seems to have sparked new interest in the peer-to-peer digital cash system.
So who uses Bitcoin in India? According toSunny Ray, who is the president and co-founder of Indian bitcoin exchangeUnocoin, there are two main categories of Bitcoin users in the country.Inan interviewwithBitcoin Uncensoredco-hostChris DeRosejust before the large denomination banknote ban was put into place, Ray claimed that 40 to 50 percent of their users are savers who view bitcoin as a digital gold. "India is the largest gold market in the world," said Ray. "If you couple that with—I think it's something like 20 or 25 percent of the world's programming and IT population also live in India—digital gold is obviously something that I think people have the capacity to get."Ray also noted that roughly 20 percent of Unocoin's users are freelancers who use Bitcoin as a cheaper alternative to PayPal. Ray noted that Bitcoin currently offers what are essentially negative fees for freelancers based in India because of the relatively higher price bitcoins sell for in the country.During the Bitcoin Uncensored interview, Ray stressed that his estimates should be taken with a grain of salt, as the very nature of Bitcoin makes it difficult to get real user data.
So what's happened since India got rid of the 500 and 1000 rupee banknotes? For starters, Ray toldCoinJournalthat Unocoin has seen a doubling in traffic and trading volume over the past 30 days.An increase in trading volumecan also be seenonLocalBitcoins, where the daily volume has increased from around 1.25 million rupees (around $18,500) per day before the cash ban to around 2.5 million rupees per day in early December. There was also an all-time high of more than 5.5 million rupees (just over $81,000) worth of bitcoin traded on November 26th.
It's important to remember that LocalBitcoins trading volume is a rather rough metric because many traders continue exchanging bitcoins off of the site after finding someone they trust.
Bitcoin currently trades at a high premium in India due to capital controls in India, which make it difficult for Bitcoin companies, such as Unocoin, to settle against foreign exchanges; however, Unocoin is currently working on a method to bring more bitcoin liquidity into the Indian market.In ablog poston their website,BitGohas noted the value of India-based transactions co-signed by them has increased by 240 percent since September.
While there's been a nice uptick in Bitcoin activity in India over the past month or so, Ray believes the larger effects of India's removal of the 500 and 1000 rupee banknotes from circulation will be seen over the long term.
"Right now, people are being very careful with their spending," said Ray. "We think it will be long term because with all of the restrictions, the push towards digital money, and the amount of new money that's entering the banking system, some of that will find a home in bitcoin." || A bitcoin ETF would have 'very significant upside' — but it probably won't happen: Analyst: Bitcoin(Exchange: BTC=-USS)followers are assigning far too high a likelihood that regulators will OK a fund that tracks the cryptocurrency, which is too bad because approval would provide a major boost to its price, according to one analyst.
Regulators at the Securities and Exchange Commission are weighing whether to approvean exchange-traded fund proposed by Cameron and Tyler Winklevoss. The SEC has been considering a proposal that came into being more than three years ago. The Winklevoss brothers are looking to list the ETF on the Bats exchange.
Should the fund gain approval, it would attract a flood of investor cash that could hit $300 million, according to investment bank Needham and Co. The total value of bitcoins in circulation was $13.8 billion as of Tuesday afternoon trading.
That's the good news.
The bad news is that Needham analysts believe there is very little chance the SEC actually will go ahead and approve the ETF. They say the chances are probably less than 25 percent.
"In contrast to most of the people that we speak to in the industry, we think the probability that a bitcoin ETF will be approved in 2017 is very low," analyst Spencer Bogart said in a research note. "To be clear, we don't see any specific reason to disapprove the Winklevoss Bitcoin ETF, but, instead, think that the confluence of fear, uncertainty and doubt coupled with basic incentives at the SEC will make it very difficult to get approval."
That could come as news to many of bitcoin's avid followers who believe the fund will be approved by March 11, which has been set as the deadline for a ruling. Bitcoin was created more than eight years ago as a digital currency and is accepted by more than 100,000 vendors for payment. It has generated controversy through its use in the underworld and because of several high-profile bitcoin thefts.
"We think the positive effect that a bitcoin ETF would have on the price of bitcoin is vastly underappreciated, and that the probability of approval is drastically overestimated within the industry," Bogart wrote.
Not to worry, however.
Regardless of whether the ETF becomes reality, Bogart said bitcoin will be fine. Bitcoin recently hit a brief peak above $1,000 and is up 102 percent over the past 12 months.
The Winklevoss brothers did not immediately respond to a request for comment
"Overall, this is a low probability event with a very significant upside," Bogart said of the ETF. "Ultimately, while it appears there is significant pent-up demand from the investment public for such a vehicle, bitcoin itself certainly doesn't need an ETF and will continue on regardless of the SEC's decision."
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• Personal Finance || 10 things you need to know before the opening bell: Firing contest (A view of a firing contest among multiple launch rocket system (MLRS) batteries selected from large combined units of the KPA, in this undated photo released by North Korea's Korean Central News Agency (KCNA) in Pyongyang.Reuters/KCNA) Here is what you need to know. Dow 20,000 remains elusive . The Dow Jones Industrial Average dipped 0.16% on Wednesday to finish at 19,941.96. It's set to open Thursday's session near 19,935. Wednesday was the most boring day for stocks since 1992 . Wednesday's intraday range of 1.9 basis points was the tightest since Christmas Eve 1992, according to Bespoke Investment Group. The world's oldest bank is moving closer to a bailout . Monte Paschi failed to secure a key investor for its new share offering, and Reuters reports that caused other investors to balk at the deal. Aside from failing, the only realistic option at this point is a state bailout by the Italian government. Bitcoin is at its best level in 3 years . The cryptocurrency trades higher by more than 5% on Thursday at $874.04, its best level since December 2013. Carl Icahn will have a role in the Trump Administration . Icahn will serve as a special adviser to Trump on regulation. " His help on the strangling regulations that our country is faced with will be invaluable," Trump said in a release. Air Force One will cost less than previously expected . After meeting with Trump, Boeing CEO Dennis Muilenburg said the president's plane will cost less than previous estimate of near $4 billion. " We work on Air Force One because it's important to our country and we're going to make sure that he gets the best capability and that it's done affordably," Muilenburg said. Hershey has a new CEO . Michele Buck has been named president and CEO, effective March 1, 2017. Currently, Buck is the company's executive vice president and COO. Stock markets around the world are lower . Hong Kong's Hang Seng (-0.8%) lagged in Asia and Spain's IBEX (-0.4%) trails in Europe. Earnings reporting remains light. Rite Aid and ConAgra Brands will release their quarterly results ahead of the opening bell while Cintas reports after markets close. US economic data picks up. GDP, durable goods, and initial jobless claims will all be released at 8:30 a.m. ET before the FHFA House Price Index crosses the wires at 9 a.m. ET and personal income and spending are announced at 10 a.m. ET. The US 10-year yield is up 2 bps at 2.55%. More From Business Insider I’ve tested over 100 headphones in the past year, and I keep coming back to this $26 pair Here's a super-quick guide to what traders are talking about right now 'The global bond rout deepens:' Here's a quick guide to what traders are talking about right now View comments || Bitcoin hits highest levels in almost three years: By Jemima Kelly
LONDON (Reuters) - Web-based digital currency bitcoin hit its highest levels in almost three years on Friday, extending gains since India sparked a cash shortage by removing high-denomination bank notes from circulation a month ago.
Bitcoin was trading as high as $774 on the New York-based itBit exchange, up almost 1 percent on the day and the highest since February 2014, having climbed almost 9 percent in the past month.
Bitcoin is a cash alternative that can be used for moving money across the globe quickly and anonymously with no need for a central authority to process transactions. It has climbed around 80 percent so far this year, far exceeding its 35 percent rise in 2015.
Indian prime minister Narendra Modi announced a shock move on Nov. 8 to ditch 500 and 1,000 rupee notes - worth a combined $256 billion - that he said were fuelling corruption, being forged and even paying for attacks by militants who target India.
The cryptocurrency's value has been highly volatile - after rocketing above $1,100 in 2013, it had fallen to around $150 by early 2015. But it has since stabilized, staying above $500 for the past six months.
(Reporting by Jemima Kelly; Editing by Jamie McGeever) || Bitcoin exchange operator pleads guilty in U.S. case tied to JPMorgan hack: By Nate Raymond NEW YORK (Reuters) - A Florida man pleaded guilty on Monday to charges that he conspired to operate an illegal bitcoin exchange, which prosecutors said was owned by an Israeli who oversaw a massive scheme to hack companies, including JPMorgan Chase & Co<JPM.N>. Anthony Murgio, 33, entered his plea in federal court in Manhattan to three counts, including conspiracy to operate an unlicensed money transmitting business and conspiracy to commit bank fraud, a month before he was to face trial. Under a plea agreement, Murgio agreed not to appeal any prison sentence of about 12-1/2 years in prison or less. U.S. District Judge Alison Nathan scheduled his sentencing for June 16. The Tampa, Florida-resident is one of nine people to face charges following an investigation connected to a data breach that JPMorgan disclosed in 2014 involving records for more than 83 million accounts. Prosecutors said Murgio operated Coin.mx, which without a license exchanged millions of dollars into bitcoin, including for victims of ransomware, a computer virus that seeks payment, often in the virtual currency, to unlock data it restricts. Prosecutors said Coin.mx was operated from 2013 to 2015 through several fronts, including one called "Collectables Club," to trick financial institutions into believing it was a members-only group interested in collectables like stamps. Coin.mx was owned by Israeli citizen Gery Shalon, according to prosecutors, who say he and Maryland-born Joshua Samuel Aaron orchestrated cyber attacks on companies. An attack on JPMorgan resulted in the information of more than 100 million people being stolen. Prosecutors said the men carried out the cybercrimes to further other schemes with another Israeli, Ziv Orenstein, including pumping up stock prices with sham promotional emails. Murgio, who was not accused of engaging in the hacking scheme, was tied not only to Shalon but also to Aaron. Both men attended Florida State University, and in 2008 they formed a business together. On his website, Murgio called Aaron "my friend" and said he "showed me the ropes to online marketing." Story continues Aaron was deported from Russia in December and taken into U.S. custody, while Shalon and Orenstein were extradited from Israel in June. All three have pleaded not guilty. Five other individuals have been charged in connection with Coin.mx, including Murgio's father. Two individuals linked to it are scheduled to face trial on Feb. 6. The case is U.S. v. Murgio et al, U.S. District Court, Southern District of New York, No. 15-cr-769. (Reporting by Nate Raymond in New York; Editing by Dan Grebler) || 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. || Hyperledger Wraps up 2016 By Welcoming Eight New Members: SAN FRANCISCO, CA--(Marketwired - December 28, 2016) -Hyperledger Project, a collaborative cross-industry effort created to advance blockchain technology, announced today that eight new members have joined the project to help create an open standard for distributed ledgers for a new generation of transactional applications. Last month, Hyperledgerannouncedit reached 100 active members in less than one year, a huge milestone for the open source project, hosted by The Linux Foundation.
"This year has been full of growth for the project," said Brian Behlendorf, Executive Director, Hyperledger. "Not only did we exceed 100 members, Hyperledger met significant development milestones thanks to the community's hard work. As 2016 was a year of exploration, R&D and prototyping, we're excited for 2017 to be the year we start to see case studies of the technology in production environments."
Hyperledger aims to enable organizations to build robust, industry-specific applications, platforms and hardware systems to support their individual business transactions by creating an enterprise grade, open source distributed ledger framework and code base. The latest members include: CA Technologies, Factom Foundation, Hashed Health, Koscom, LedgerDomain, Lykke, Sovrin Foundation and Swisscom.
New Member Quotes:
CA Technologies
"To compete today, every company needs to foster innovation that delivers real business value. Blockchain has the potential to disrupt the way many of CA's customers do business," said Otto Berkes, chief technology officer, CA Technologies. "We're honored to be a part of Hyperledger and look forward to collaborating with other members to help shape open standards for blockchain. It's an exciting time for this because blockchain is not just about Bitcoin anymore, and the range of potential applications with it is vast for of our customers. This partnership will help us influence what that future looks like for both CA and our customers as they embark on their digital transformation journey."
Factom Foundation
"We are honored to have been selected to join the Hyperledger Project," said Paul Snow, Founder, Factom Foundation. "We are looking forward to helping build the open source framework for securing data and systems with our blockchain solution."
Hashed Health
"Hashed Health is a healthcare technology innovation company focused on accelerating the commercialization of meaningful new blockchain and distributed ledger-based technologies," said John Bass, Hashed Health CEO. "Hashed is proud to be a member of the Hyperledger Project, sharing its commitment to creating the foundation for scalable, reliable blockchain solutions."
Koscom
"We consider blockchain technology as the next generation infrastructure in the Korean capital market. As an industry leader with 40 years' experience in the financial IT field, we are looking to leverage this industry disruptive technology," said Chung Youn Dae, CEO, Koscom. "We will constantly explore the ways to contribute to the blockchain ecosystem, as we collaborate with the Hyperledger community. We also hope to better serve out customers in a more secure and efficient way by integrating blockchain technology and our own Fintech platform."
LedgerDomain
"LedgerDomain delivers next generation supply chain solutions, harnessing permissioned blockchains to assure supply chain integrity and finished product authenticity through to the consumer for the benefit of all. This highly transparent, trustworthy approach is built upon an industrial-strength Hyperledger Fabric backbone," said Dr. Victor Dods, LedgerDomain. "We're proud to be a part of Hyperledger and its growing community."
Lykke
"We're looking forward to being part of the Hyperledger project," said Richard Olsen, Lykke founder and CEO. "Our company is building a digital asset exchange. Right now, we're implemented on the Bitcoin blockchain settlement layer, with Ethereum to come within the next few months, but our involvement with Hyperledger isn't just the next step forward. Providing decentralized settlement on the Hyperledger blockchain with multisignature wallets and atomic swap transactions will benefit both of our user communities."
Swisscom
"We are very proud to be Switzerland's first connection to Hyperledger," said Johannes Höhener, VP, Swisscom's Fintech Cluster. "We look forward to working with a highly professional community on cutting-edge blockchain developments. Our membership and participation will shape our capabilities to develop blockchain solutions -- for our clients and Switzerland."
The success of Hyperledger is due to the support of the developer community and member companies. Learn how your organization can contribute to the project here:https://www.hyperledger.org/about/join
About Hyperledger
The Hyperledger project is an open source collaborative effort created to advance cross-industry blockchain technologies. It is a global collaboration including leaders in finance, banking, Internet of Things, supply chains, manufacturing and Technology. The Linux Foundation hosts Hyperledger as a Collaborative Project under the foundation. To learn more, visit:www.hyperledger.org || 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 $800 mark for the first time since February 2014.
India's demonetization also gave a boost to bitcoin trading volumes. Moreover, trading volumes in China have been solid with the government taking proactive measures against illegal money transfer. With this, investors expect to see an approval of the first bitcoin ETF in 2017.
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[Random Sample of Social Media Buzz (last 60 days)]
MMMBTC || How To Hack Freebitco.in 2.00 BTC With Proff nov.2016/2017: http://youtu.be/GyTns-gIVik?a via @YouTube || Want more than #dice & #casino for your #bitcoin betting? Try our #retrogaming for #btc! http://cashclamber.com/CashClamber/Default/Translator.php?page=Main.html?subpage=/Pages/Game/Streaker/Streaker.html?app=def … #snes #angel #Payout || CBN May Legalise Use Of Bitcoin http://dlvr.it/MwJz5R || #Bitcoin What is the unit in which hash difficulty is calculated? http://viid.me/qrHqun pic.twitter.com/U1uP4zV3bz || MMMBTC || MMMBTC || Bitcoin Stocks さんフォローありがとうございます。この方のプロフィールです。https://twitter.com/ElixiumBitcoin この方をフォローしてさらに繋がりの輪を広げましょう！ 此方は #相互フォロー 支援botです。 || Provocative Females Who Love Being Punished <y@g5> http://www.btcgallery.com/07af5ac8bc3a || 0.54%
787.83$
791.10$
792.12$
|
Trend: up || Prices: 821.80, 831.53, 907.94, 886.62, 899.07, 895.03, 921.79, 924.67, 921.01, 892.69
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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 2018-11-28]
BTC Price: 4257.42, BTC RSI: 31.13
Gold Price: 1221.40, Gold RSI: 52.39
Oil Price: 50.29, Oil RSI: 21.14
[Random Sample of News (last 60 days)]
Bitcoin Will Not Challenge Gold as a Safe-Haven Asset: Equity Analyst: Though many bitcoin investors believe multi-layer scaling solutions such as theLightning Network(LN) will eventually make BTC a viable payment instrument for the proverbial coffee purchase, most argue that the flagship cryptocurrency’s primary short-term use case is as “digital gold.” However, an equity analyst at one of the world’s most respected investment research firms said that he doesn’t expect bitcoin to make a noticeable dent into the yellow metal’s market share.
Writing in Morningstar Research Services’ short-form investment commentary series, the “Morningstar Minute,” equity analyst Kristoffer Inton noted that ifbitcoindid begin to replace gold as a safe haven asset, it would represent a “seismic shift” in the investment case for the precious metal as 40 percent of gold demand comes from investors.
“If cryptocurrency were to displace gold’s investment case, the implications for gold prices would be devastating. 40% of gold demand relates to investment, so a shift in investment from gold to cryptocurrency would be a seismic shock.”
However, Inton, who has been at Morningstar since 2013, wrote that the firm has created a proprietary framework for evaluating assets as stores of value and found that cryptocurrency does not score well on this rubric, leading him to continue recommending long-term investments in certain gold stocks, including Goldcorp.
“In order to assess the threat, we’ve created a framework to grade any asset class’s viability as a safe haven by focusing on liquidity, functional purpose, scarcity of supply, future demand certainty, and permanence. Through this framework, we conclude that cryptocurrency does not and will not challenge gold as a safe-haven asset class.”
Nevertheless, cryptocurrency bulls maintain that bitcoin does have a solid investment thesis as “digital gold” because, although it is currently quitevolatile, it possesses many of gold’s attractive features (e.g. liquidity and scarcity) while also alleviating some of its drawbacks, such as its lack of portability and impracticality for payments.
Billionaire investor Peter Thiel, for instance, said earlier this year that he is long on bitcoin, even if it never matures as a payment instrument.
“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 you’d bet on would be the biggest,” he said. “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 you’d bet on would be the biggest.”
Featured Image from Shutterstock. Charts fromTradingView.
The postBitcoin Will Not Challenge Gold as a Safe-Haven Asset: Equity Analystappeared first onCCN. || It’s All Eyes on GBP, with a Slew of Stats and Brexit in Focus: Economic data released through the Asian session this morning was on the lighter side, with key stats limited to September home loan figures out of Australia and October inflation figures out of China.
Outside of the numbers, the RBA’s Statement on Monetary Policy was also released, following Tuesday’s interest rate decision, as the markets responded to the FED’s latest FOMC statement that signalled a green light for a December move.
For the Aussie Dollar,
New home loans fell by 1% in September, month-on-month, which was worse than a forecasted 0.9% decline, following a downwardly revised 2.2% slide in August, according to figures released by the ABS.
• Owner occupied housing home loans fell by 1.2%, month-on-month, with investment housing loans falling by 0.9%.
• Year-on-year, new home loans fell by 3.8%, with owner occupied housing loans slumped by 4.2%, while investment housing loans fell by 2.8%.
From the Statement on Monetary Policy, there were few surprises, with the RBA continuing to raise concerns over household income and risks to domestic consumption, while noting that economic growth and inflation had come in above estimates, with wage growth also seeing an uptick, though not enough to shift the RBA’s stance on policy.
Concerns over wage growth and consumption have continued to pin the RBA back from making a move on rates and, with the ongoing U.S – China trade war, there’s more downside risk to confidence and the economy, with a fall in the equity markets and house prices adding further downside to consumer sentiment.
The Aussie Dollar moved from $0.72650 to $0.72583 upon release of the minutes and the stats, before easing to $0.7246 at the time of writing, a loss of 0.14% for the session.
Out of China, consumer prices rose by 0.2% in October, month-on-month, in line with a forecasted 0.2%, whilst easing from Septembers 0.7%. The annual rate of inflation held steady at 2.5% in October, which was in line with forecasts, whilst the annual rate of wholesale inflation eased from 3.6% to 3.4%, also in line with forecasts.
Elsewhere, the Japanese Yen was up 0.15% to ¥113.9, with the Dollar giving up some of the FOMC driven gains, while the Kiwi Dollar saw red, with monetary policy divergence favouring the U.S Dollar, the Kiwi Dollar down 0.12% to $0.6746 at the time of writing.
For the EUR, after a relatively busy week on the data front, there are material stats scheduled for release through the day, leaving the EUR in the hands of geo-political risk, the Italian coalition government’s face off with Brussels not the only issue the markets are facing, with infighting between the two sides of the coalition also a factor.
At the time of writing, the EUR was down 0.03% to $1.136, with noise from Italy the key driver for the EUR through the day.
For the Pound, it’s a particularly busy day on the data front, with key stats scheduled for release through the morning including 3rdquarter and monthly GDP figures, 3rdquarter business investment numbers, September trade data and industrial and manufacturing production numbers that are due out ahead of the NIESR’s UK GDP Estimate this afternoon.
While the stats are skewed in favour of the Pound, which should provide some support, it all continues to hinge on Brexit, with the UK government rapidly running out of time if a deal is to be had before the end of the year.
At the time of writing, the Pound was down 0.03% at $1.3058, with Brexit and today’s stats the key drivers through the day.
Across the Pond, stats out of the U.S are limited October wholesale inflation figures and prelim consumer sentiment figures for November, the 2-weeks of the prelim survey ending on 7thNovember unlikely to truly reflect consumer sentiment towards the mid-term election results ahead of the finalized numbers due out 21stNovember.
Outside of the numbers, we can expect chatter from Capitol Hill to have an influence on the Dollar, with the dust having yet settled from the mid-terms, the Republican’s loss of the House and the sacking of Attorney-General Jeff Sessions.
At the time of writing, the Dollar Spot Index was down 0.07% to 96.656, today’s stats and Capitol Hill in focus on the day.
For the Loonie, there are no material stats scheduled for release, leaving crude oil prices and market risk sentiment to provide direction through the day, the slide in crude oil prices weighing ahead of OPEC’s meeting this coming weekend.
The Loonie was down 0.01% to C$1.3156 against the U.S Dollar at the time of writing, with crude oil prices the key driver through the day.
Thisarticlewas originally posted on FX Empire
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• Bitcoin – With $6,500 Resistance Weighing, What’s next for Bitcoin? || Women Worldwide Struggle to Access Banking Services. Bitcoin Is Only Making That Worse: Earlier this year, World Bank Group President Jim Yong Kim spoke out in Washington, comparing cryptocurrencies to “Ponzi schemes” . Yet, cryptocurrencies and their more respectable cousin, blockchain, are already taking a prominent role in the international development sector. Blockchain technology is currently being used to distribute aid to 100,000 Syrian refugees by The World Food Programme. And plans for future blockchain initiatives within the U.N. alone run from ending child trafficking to providing services for women and girls in humanitarian settings . Blockchain is the technology behind cryptocurrencies like Bitcoin. It consists of distributed databases that are constantly updated and verified by their users, rather than by a central authority. They allow digital assets, such as cryptocurrencies, to be traded and transferred without going through an institution such as a bank. In the development sector, many hope that blockchain may offer solutions for the world’s 1.7 billion unbanked adults . This figure represents almost a third of the world’s population, predominantly low-income people and women, who are unable to access financial services. The problem persists in developed countries – 15% of Americans over the age of 15 are unbanked – but is particularly acute in developing countries. Without access to financial services, people are forced to take informal loans at very high interest rates, save their money insecurely in cash, and make long and risky journeys to hand over money to family members or people they do business with. Don Tapscott, Executive Chairman of the Blockchain Research Institute, argues in his book, Blockchain Revolution , that “blockchain could be the solution. By lowering barriers to financial inclusion and enabling new models of entrepreneurship, the tonic of the market could be brought to bear on the dreams and ideas of billions of the unbanked.” Financial inclusion efforts have indeed previously been revolutionized by technology, particularly by mobile money. The best-known scheme, Kenya’s M-Pesa, processes 6 billion transactions a year and has been adopted by the vast majority of Kenyan households. The service allows money to be deposited in an account linked to a customer’s phone number, then used to make payments or sent to other users via text message and converted back to cash. It has had a transformative impact on the country. A study by MIT and Georgetown University economists found that M-Pesa has lifted 2% of Kenyan households out of poverty. Some see blockchain as the next frontier for financial inclusion. One prominent study authored by researchers from Georgetown University and the IFC, among others, claimed that blockchain could bring about a transformation in financial inclusion as important as that achieved by M-Pesa. But, unlike M-Pesa, blockchain was not designed with low-income customers in mind and does not address the barriers they face. Blockchain currently has little to offer the world’s unbanked or the institutions serving them. For inclusive financial services to be sustainable, providers need to reach enormous numbers of people, through low-cost, reliable transactions. Blockchain and cryptocurrencies cannot offer this because they were simply not built for scale. Whereas it is estimated that Bitcoin can process just three to seven transactions per second , Visa can process 24,000 transactions in a second . In addition, cryptocurrencies have proved highly volatile. At the end of last year, Bitcoin reached its highest price to date. As I am writing this, it is worth less than a third of that. Though attractive for investors, such volatility makes cryptocurrencies completely inappropriate for the transactions required by low-income people, like money transfers, payments, savings and loans. But even if they do not make use of cryptocurrencies, blockchain systems are expensive and inefficient. In most cases, their proposed uses could equally (and more economically) be fulfilled by a regular database. It is notable that the most successful use of blockchain in a humanitarian setting, the World Food Programme’s initiative to provide aid to Syrian refugees, is in fact a private blockchain run by just one entity – the World Food Programme. In other words, the system is not distributed or decentralized, and critics have argued that it might as well be run through a standard database . However, it is the risk to vulnerable customers that should most concern us. To make sure that any financial service benefits the poor, consumers must understand it and must be protected from abuse. This is particularly important in many developing countries where trust in financial institutions has been severely damaged. Blockchain seems to have something to offer here. Firstly, the system is supposedly immutable. Transactions are permanently recorded to a blockchain ledger, so that, in theory, nobody can later fiddle the accounts. Secondly, blockchain makes use of smart contracts, which automatically carry out set transactions when certain conditions have been met. Smart contracts could improve trust among customers who know financial institutions will be held to their promises. They are already being used for a small number of financial products designed for high-income customers. AXA, for example, offers a flight delay insurance that automatically pays out to insurance customers if their flight is delayed. In fact, this immutability poses serious problems for financial inclusion. Financial services designed for people experiencing the financial system for the first time need to be capable of resolving problems and misunderstandings. Banks need to be able to reverse transactions made to the wrong recipient by those still getting to grips with banking services, and authorities should be able to intervene when customers are treated unfairly. Smart contracts are designed to make just this kind of intervention impossible. They have proved surprising vulnerable, nonetheless, to hacking and coding errors. Several high-profile hacks have already resulted in vast losses. One scheme, set up to fund startups chosen through members’ votes, lost $50 million to a hacker in 2016. Worryingly, a recent study analyzing a million smart contracts, found that around 34,000 were vulnerable to this kind of hack. What’s more, blockchain is almost impossible to explain to an average consumer, let alone those new to the financial system. It is so confusing, in fact, that some start-ups have chosen simply not to mention it at all to their customers. One notable service in the Philippines, Coins.ph , decided to hide its bitcoin wallet in the app as default . Users only see details of their cross-border transfers according to fiat currencies, to avoid the confusion and anxiety caused when behind-the-scenes bitcoin conversions were visible. While organizations rush towards technology’s latest “silver bullet,” attention and funds are being diverted from proven ways to expand financial inclusion. Mobile money services—leveraging levels of mobile ownership of more than 100% in many developing countries—are accelerating financial inclusion. In in Sub-Saharan Africa, the World Bank Group’s global financial inclusion survey, Findex , revealed that 21 percent of adults now have a mobile money account, nearly twice the proportion recorded in 2014. And access to mobile money can have remarkable effects on families’ wellbeing. A study in Kenya found that access to M-Pesa allowed women-headed households to increase their savings by more than a fifth and to start small businesses, reducing extreme poverty by 22 percent among those households. M-Pesa did not achieve this by leverage cutting-edge technology. Rather, in a bid to include as many Kenyans as possible, it made use of a basic and widely accessible technology that does not even require internet access: feature phones. Networks of banking correspondents have also proved remarkably successful in expanding access to financial services beyond physical bank branches. Banking correspondents are neighborhood kiosks and small businesses equipped with simple technology to carry out basic transactions on behalf of banks. In India, for example, banking correspondents were introduced in 2006. By 2013, the Reserve Bank of India reported that there were more banking correspondents in the country than physical bank branches and ATMs put together. In 2017, the Reserve Bank of India reported that banking correspondents represented more than 90% of banking outlets in villages . Women’s financial inclusion has proven to be one of the toughest problems faced by the sector. In developing countries, men are nine percentage points more likely to have a bank account than women – a gap that remains unchanged since it was first measured in 2011 . Nonetheless, the progress made by individual countries varies enormously. Specialized women’s financial institutions in many countries have been slowly working to shift the balance, changing the lives and prospects of the women they serve. Where government support and the right technology have also been put in place, women’s financial inclusion has accelerated. In India, where the government has put significant resources behind signing women up to basic bank accounts, Findex data shows that the gender gap has reduced from 20 to 6 percentage points in just three years. And in Indonesia, women are now more likely to have access to an account than men. At the core of successful financial inclusion initiatives is careful design to meet the needs and lifestyles of the unbanked. Considerable progress has been achieved with locally-designed solutions, restricted budgets, simple technology, and years of iteration. This is precisely the opposite of blockchain – an expensive and unwieldly technology which advocates are looking to fit to problems it was never designed to solve. The most vulnerable should not be made guinea pigs for their experiments. || Crypto Hedge Funds are Going to Start Shutting Down: Morgan Creek: The depths of this year’s cryptocurrency bear market evidently show significant signs of further trouble. According to notable crypto figure and Morgan Creek Digital founder Anthony Pompliano, significant price drawdowns this year could lead to crypto hedge funds closing up shop soon.
CCNreportedtoday of Bitcoin dropping below $5,000 in price, the lowest price this year.Altcoinshave also suffered significantly this year, seeing huge percentage losses.
Pompliano, or Pomp for short, explained in hisblog posttoday how these dramatic price drops cumulatively affect cryptocurrency businesses.
Pomp specifically mentions crypto hedge funds and “high water mark issues”. Put simply, fund managers receive a commission based on their performance, in relation to associated crypto asset prices for each investment period.
Last investment period ended in December 2017, concluding a very lucrative year for crypto assets as a whole.
However,this yearis a much different story. “We have seen 50-80% decreases in net asset values in some funds since then. This means these fund managers will not receive a performance fee in 2018, which drastically reduces the income of the individual manager”, Pomp explained.
With reference to the numbers, earning these manager’s next commission’s will also be difficult. They will need to more than double their fund’s net asset value from present-day prices.
Pomp explains many fund managers may simply close shop and return investor finances. They might then wait months or possibly a year to open a fresh fund with different parameters.
Pomp posed a question on why these funds have not yet closed, concluding that – “[t]he most plausible answer is that many of the managers are young/inexperienced and they won’t realize the issue until they don’t receive their performance fee for 2018. If true, we could be less than 60 days away from many of the fund managers experiencing the pain of being ineligible for the bulk of their compensation”.
Pomp also mentionsICOs, referencing their exuberant funding successes over the past year or so.
ICOs are now facing significantly more scrutiny from regulators. Previous ICOs could face fines, as well as requirements to refund investor funds at original ICO price, in original USD value.
The hitch here is the fact that most ICOs raised funds via cryptocurrencies. With prices down as much as they are currently, these ICOs could owe investors more money in USD than they currently own.
In short, ICOs may not have the money to pay back investors, due to holding assets that have plummeted in price.
These ICOs may need to file bankruptcy, leading to fund managers potentially seeing further losses.
Featured image from Shutterstock.
The postCrypto Hedge Funds are Going to Start Shutting Down: Morgan Creekappeared first onCCN. || Headmaster in China fired after being caught using school computers to mine cryptocurrency: A sticker indicating that a venue accepts Bitcoin payments. - Getty Images Europe A Chinese headmaster has been fired after teachers found that he was using the school's computers to mine for cryptocurrency. Lei Hua, the head of Puman Middle School in China’s Hunan Province, had installed eight machines in a school classroom over the last year, according to local media. The ruse was discovered after he ran up large electricity bills and staff noticed strange noises and problems with the school’s computer network. The headmaster lost his job after the discovery and was removed from the local branch of the Communist Party. The deputy headmaster, who was also involved, received a formal warning. The headteacher reportedly started mining for a cryptocurrency called Ethereum at his home, but moved the device to the school after discovering the large amount of electricity required. Cryptocurrency mining uses computer hardware to perform calculations which result in digital coins being generated. This can be converted into normal money or retained as cryptocurrency. Powerful mining machines can generate more cryptocurrency, but typically become hot and noisy when operating and use large amounts of power. Puman Middle School’s electricity bill was affected, amid reports that cryptocurrency mining operation using 14,700 yuan (£1,600) of electricity. The power surge caused the school’s energy bill to almost double from earlier in the year. The illicit use of corporate networks and computers to mine cryptocurrency has been a common problem in recent years. In February, several scientists working at a nuclear research facility in Russia were arrested after using the centre’s powerful supercomputer to mine Bitcoin. Earlier this year, it emerged that thousands of government websites in the UK had been hijacked by hackers and used to mine cryptocurrency through the computers of people visiting the websites. || Bitcoin crashes to lowest this year, losses top 25 pct in a week: * Latest tumble takes Bitcoin's one-week losses to 30 pct * Sell-off started at leveraged Asian exchanges -traders * "Hard fork" in bitcoin cash also to blame * Rival coins ether, XRP also fall heavily * Analysts say downward pressure is building (Adds Breakingviews link) By Tom Wilson and Tommy Wilkes LONDON, Nov 20 (Reuters) - Bitcoin slumped on Tuesday to its lowest this year, tumbling as much as 10 percent to breach $4,300 and taking losses in the world's best-known digital coin to 25 percent within a week. Other smaller coins also skidded sharply as a broader cryptocurrency sell-off, said by traders and market makers to be rooted in heavy selling at leveraged Asian exchanges, gathered steam. The fall followed a sudden plunge last week that shook bitcoin out of a period of relative stability, where prices had hovered around the $6,500 mark for several months. Bitcoin sunk as far as $4,327, its lowest since October 2017. By mid-afternoon, it was trading around $4,750 on the Bitstamp exchange. "We'd been waiting for a break-out," said Mati Greenspan, senior market analyst at eToro. "When you have the price moving so steadily you had lots of stop-loss orders building up - and now you are seeing them being liquidated." Ripple's XRP and Ethereum's ether, the second and third-largest coins, fell as much as 14 and 16 percent respectively before clawing back losses in U.S. trading hours. Tuesday's falls coincided with broader drops in financial markets. European shares fell as poor retail results and weakness in Apple Inc dragged down Wall Street. Bitcoin has plummeted over 75 percent this year from a peak of $20,000 touched in December as retail investors piled into a one of the largest bubbles in history. "CASINO MENTALITY" Traders and market makers blamed bitcoin's slide on heavy selling at leveraged exchanges in Asia such as Hong Kong-based OKEx and Bitmex. Few exchanges in the West lend bitcoin to traders, making the Asian venues popular with speculators. "The presence of leverage makes day traders attracted to Asian markets," said Michael Moro, CEO of Genesis Global Trading in New York, one of the biggest over-the-counter trading desks. "Folks who are risking 100X type of leverage, its really difficult to think of that as an investment its a casino mentality." Others blamed fears that last week's "hard fork" in bitcoin cash, where a software upgrade split the fourth-biggest coin into two separate currencies, could destabilise others. The price of bitcoin tends to be sensitive to debates over how its underlying network evolves. Last year the suspension of hard fork planned by major developers and investors proved a major catalyst to its breakneck rise. Story continues TOUGH BILLING Mainstream investors have stayed clear of bitcoin, with concerns over scant regulatory oversight and undeveloped market infrastructure compounded by frequent swings in price. That lack of involvement has seen bitcoin struggle to live up to its billing as something that will revolutionise world finance. Its usage as a payment currency has shrivelled this year. At the same time, bitcoin's plunge in value has calmed the fears of regulators and central bankers that it could one day pose a risk to financial stability. According to industry tracker Coinmarketcap.com, the total value of cryptocurrencies is now around $154 billion, down from a peak of around $800 billion in January. Cryptocurrency advocates say bitcoin is still young and price volatility is to be expected. Many predict the need for virtual currencies that operate beyond mainstream banking will outlast any short-term price falls. By late afternoon, XRP and ether were trading around $0.45 and $142 respectively on the Luxembourg-based Bitstamp exchange. "The euphoria has died and prices have consolidated with lower lows and lower highs," said Fawad Razaqzada, an analyst at Forex.com. "A lot of people have lost interest." (Reporting by Tom Wilson and Tommy Wilkes, Editing by Saikat Chatterjee and Ed Osmond) View comments || ‘Nuclear Option’: ABC Dev Won’t Rule out Changing Bitcoin Cash PoW Algorithm: amaury sechet, bitcoin cash developer The Bitcoin Cash civil war is just days away from culminating in a contentious blockchain split, and the lead developer of the faction with the minority hashrate has advised that the development community should “get a patch ready” in case they need to pursue an emergency hard fork to change the cryptocurrency’s Proof-of-Work (PoW) algorithm. Bitcoin ABC Dev. Open to ‘Nuclear Option’ Writing on Twitter, Bitcoin ABC lead developer and self-described Bitcoin Cash “benevolent dictator” Amaury Séchet said that activating an emergency fork to alter the Bitcoin Cash hashing algorithm would be a “nuclear option” but that developers should keep it on the table in case their version of Bitcoin Cash (BCHSV) suffers an attack from miners backing Bitcoin SV (BCHSV), the BCH version promoted by Craig Wright and billionaire Calvin Ayre . “You should get a patch ready. It’s better to be ready and not need it than to need it and not be ready,” Séchet said when asked whether he supported a PoW change. “Changing PoW is somewhat of a nuclear option so I’d be reluctant to use it. But it always has been considered the option of last resort in case a large portion of miner become hostile, so we should be ready.” You should get a patch ready. It's better to be ready and not need it than to need it and not be ready. — Deadal Nix (@deadalnix) November 12, 2018 Changing PoW is somewhat of a nuclear option so I'd be reluctant to use it. But it always has been considered the option of last resort in case a large portion of miner become hostile, so we should be ready. — Deadal Nix (@deadalnix) November 12, 2018 Craig Wright-Backed SV Boasts Dominant Hashrate Ready indeed, because despite strong community and business support, the hashrate has — at least in the days leading up to the fork — largely rallied behind BCHSV. The SV camp appears to possess the dominant hashrate, with Coin Dance estimating that ~75 to 80 percent of miners are signaling for SV compared to just ~15 to 27 percent for ABC. Craig Wright, who as recently as this month claimed in an email that he was Bitcoin creator Satoshi Nakamoto, has threatened that SV miners will use their massive hash power to attack the BCHABC blockchain, and he is not the only SV backer to issue this warning. Hey @btccom_official Do you guys really want to mine for NOTHING. Others like to say I am bluffing…. I am not. EVERY satoshi ever mined and earnt on BCH using ABC will be reversed. You mine ABC, you piss in the wind and burn electricity for nothing. It is a promise pic.twitter.com/84cwbWIbC1 — Dr Craig S Wright (@ProfFaustus) November 12, 2018 Last week, Bitcoin Cash startup and BCHSV supporter CashPay Solutions opened a mining pool — SharkPool — whose sole purpose is to attack altcoins and BCH forks that it considers illegitimate — including BCHABC. Story continues “SharkPool considers all alterations to the original Bitcoin design a threat, this includes a potential ABC chain if they choose to not capitulate in time and accept the SV ruleset prior to the hard fork,” co-founder Ari Kuqi told CCN in an emailed statement. “ABC has been hinting at a possible PoW change and accepting minority hash; this doesn’t change anything. There will be no splits of Bitcoin and the leeched value in the shape of alts and forks will be brought back.” “You either build on Bitcoin or you use a central database,” he added. Nodes, Businesses Back ABC At present, Bitcoin Ca sh is mined using SHA256 , the same hashing algorithm used on Bitcoin and a variety of other cryptocurrency networks. SHA256 has long been ASIC-compatible, so aside from the odd cryptojacking-related botnet, BCH can only be mined profitably using these specialized mining devices, which achieved enhanced efficiency by sacrificing versatility. Altering the BCHABC hashing algorithm would represent a major shift for the cryptocurrency network, as it would prevent SHA256 ASIC owners from mining BCHABC blockchain. But, while that would prevent ABC supporters from mining BCHABC with their current hardware, it would also secure the network against an attack from the SV camp — at least in the near-term. bitcoin cash hard fork BCHABC appears to have more on-the-ground support, which is why some have suggested a PoW change to immunize the cryptocurrency against malicious miners who support the other chain. BCH node operators are more than three times as likely to run the Bitcoin ABC client than Bitcoin SV, and 98 percent of BCH-integrated companies have signaled that they are prepared to support the BCHABC network — just 36 percent of companies have said the same for BCHSV. Perhaps more tellingly, traders have consistently priced BCHABC tokens far above BCHSV ones on exchanges that allow users to exchange physical bitcoin cash for pre-fork “futures” tokens. On Poloniex, the first crypto exchange to offer pre-fork BCH trading , BCHABC is currently trading at $393 while BCHSV is priced at $129. Backers believe that, while a drastic measure, altering the cryptocurrency’s PoW algorithm could secure BCHABC the opportunity to leverage its community and business support to cement its status as the “real” Bitcoin Cash network, even without majority miner support. Featured Image from CoinGeek/ YouTube The post ‘Nuclear Option’: ABC Dev Won’t Rule out Changing Bitcoin Cash PoW Algorithm appeared first on CCN . View comments || The crypto world is going wild for 'stablecoins' — here's everything you need to know about them: Chocolate coins are seen at the factory of Swiss chocolate manufacturer Aeschbach Chocolatier AG in Root-Luzern, Switzerland July 21, 2017. 'Stablecoins' are the hottest thing in crypto right now, with over 50 projects in development. A 'stablecoin' is a cryptocurrency that's price is pegged to a real-world asset like gold or the dollar. Here's a guide to what they're used for, how they work, and why people are excited about them. LONDON — The latest innovation in the fast-moving world of cryptocurrencies is the "stablecoin" — cryptocurrencies pegged to real-world assets such as the dollar or gold. A report from crypto wallet provider Blockchain released this week found that "the number of active stablecoin projects has dramatically increased over the past 12-18 months and more than a dozen project teams have stated they plan to launch in the coming weeks/months." There are now over 50 in development globally. Here's everything you need to know about the hottest new area of crypto: What is a stablecoin? "Stablecoins" are cryptocurrencies whose prices are linked to a real-world asset. In theory, they could be linked to anything, but the majority are linked to currencies such as the dollar or euro. How do they work? There are two main types of stablecoins: reserve-backed and algorithmic. Reserve-backed stablecoins function a little like paper money used to when it was linked to the gold standard. Just as cash used to be ultimately backed by gold reserves in a central bank, reserve-backed stablecoins are backed one-for-one by reserves of the currencies they are pegged to. Issuers of coins like USDC or Tether "tokenize" dollars by exchanging them for a stablecoin and depositing the dollars in a bank. Those dollars are then left untouched until somebody redeems the stablecoin for the dollars. It's this confidence that the stablecoin can be redeemed that maintains the price peg. The second type of stablecoin is one that is not backed by any reserves but instead controlled by an algorithm. Story continues Screen Shot 2018 09 28 at 15.25.02 Blockchain Garrick Hileman, head of research at Blockchain and author of the recent stablecoin report, told Business Insider: "They’re really using software rules to try and match supply with demand to maintain a peg to something like the US dollar. "As demand for an algorithmic stablecoin increases, supply also has to increase to make sure there’s not an appreciation in the value of the stablecoin. At the same time, as the value decreases, there needs to be a mechanism by which supply can be reduced again to try and bring the price of the stablecoin back to the peg. "That’s really the class of stablecoins that are much more challenging to design. They’re really unproven at this point." Examples of algorithmic stablecoins in development include Basis, Terra, Carbon, and Fragments. Why do people need stablecoins? Cryptos have been plagued by price volatility, with swings of 5% or even 10% in a day not unusual. This volatility has led critics to say that cryptos are speculative investments rather than currencies or assets. Stablecoins are an attempt to harness the benefits of cryptos — value can be transferred digitally — and combine them with the stability and trust in mainstream currencies. Hileman told BI: "For millions of individuals, tens of millions in our view, as well as institutions, the volatility of crypto assets that we saw last year really is keeping a number of people’s on the sidelines of the cryptocurrency movement. "Stablecoins can address that and enable a number of use cases that bitcoin or ether or other more volatile cryptocurrencies are suboptimal for — things like insurance." What are they used for? The most common use case for stablecoins at the moment is as a liquidity tool for cryptocurrency exchanges. Many exchanges have been shut out of mainstream banking because banks are wary of dealing with anything crypto-related for compliance reasons. As a result, many exchanges can't accept dollar or euro deposits. Clients want to buy with dollars and to be able to trade out of cryptos into dollars at times of high volatility. Stablecoins offer an elegant solution to this problem. However, proponents of stablecoins think the technology could allow for more complex financial products to be built on crypto — things like insurance, smart contract dividend payments, and loans. Which are the biggest stablecoins? Tether is by far the most popular stablecoin and is used primarily by exchanges to offer dollar-like liquidity. "Tether (USDT) is the second most actively traded cryptocurrency (~60% of BTC daily trading volume) and earlier this year entered the top-10 crypto asset rankings by market value," Blockchain said in its report. Hileman said: "Certainly, last year we saw Tether really demonstrate that there was a real demand for a stablecoin. We saw use of Tether on exchanges like Poloniex that did not have access to US dollar deposits really take off. It helped facilitate the rise of a number of exchanges that were either cut off or chose not to integrate with the existing banking system." Who's developing them? Stablecoins are being developed by both new startups and existing crypto businesses such as Circle and Gemini, the crypto exchange run by the Winklevoss twins. There are currently 57 stablecoins in development according to Blockchain's report. 23 are already live. Recent examples include the Winklevoss twins' Gemini coin , Paxos Standard, the US Dollar Coin, developed by Goldman Sachs-backed Circle, and the LBXPeg. Screen Shot 2018 09 25 at 16.32.31 Blockchain Venture capitalists are also betting big on the space. Blockchain's report said: "$335 million in venture funding has been raised by all stablecoin project teams to date." A notable investment in the space came from Silicon Valley fund Andreessen Horowitz, which recently invested $15 million into stablecoin project MakerDAO. Why are so many appearing? Hileman said that the success of Tether "really set off a whole load of innovative teams to think about: how can we do this better?" Despite its popularity, Tether has been beset by criticism of its auditing standards, corporate opacity, and claims of manipulation. As a result, many in the industry feel there is an opportunity to provide a better solution. The potential for stablecoins to be used in everything from crypto insurance to lending and savings means entrepreneurs also hope there can be room in the market for many successful stablecoins. What are the challenges stablecoins face? Heilman told BI that one of the biggest challenges facing stablecoins is scaling. For reserve-backed stablecoins to reach a level where liquidity is deep enough to support interesting applications of the technology, backers will have to invest millions or even billions in each coin. This could create "a cap on how fast the stablecoin can grow," Heilman said. "When you’re talking about use cases in the trillions, having any upward limit or friction on how quickly something can grow is potentially a huge problem." Heilman also believes that stablecoins looking to replace Tether as a liquidity proxy may end up having a tougher time than some may assume. "Tether, for all the complaints and criticism and concerns, has generally been pretty reliable at holding its peg to the US dollar. It’s worked well enough," he said. "Tether had a huge head start. It has a network effect — it has a love of exchanges, over 150 that have listed it, it’s a top 10 cryptocurrency." winklevoss REUTERS/Stephen Lam Another potential hurdle is regulatory scrutiny. Heilman believes that central banks may be quicker to act on stablecoins than they were on cryptos like bitcoin because stablecoins more closely resemble fiat money and could have effects on monetary policy. Not everyone believes in the promise of stablecoins either. Bitfinex'd, a prominent crypto Twitter account that attacks what it sees as bad practice in the space, recently said: "Essentially the only application for them is for scam exchanges to use it," in relations to those outside the banking system. Preston Byrne, a fellow of the Adam Smith Institute and the former COO of blockchain company Monax, has also expressed skepticism, calling stablecoins "doomed to fail" in a lengthy blog post. Finally, the emerging asset also faces a variety of technical challenges. Blockchain's report concludes: "The technology is still nascent and it is highly unlikely that the perfect stablecoin design exists at present; we expect further experimentation and innovation." NOW WATCH: Ray Dalio says the economy looks like 1937 and a downturn is coming in about two years See Also: A UK startup is planning to develop a 'crypto pound' as the sector goes crazy for 'stablecoins' Chinese bitcoin mining giant Bitmain had revenues of $2.8 billion in the first half of the year 75 banks have joined JPMorgan's blockchain payments 'party' SEE ALSO: A Goldman-backed startup is launching a crypto pegged to the dollar — part of plans to 'rebuild the financial system on top of crypto' DON'T MISS: Everything you need to know about Tether, the cryptocurrency academics claim was used to manipulate bitcoin NEXT UP: 'This is something we have to do to push the ecosystem forward': Tyler Winklevoss explains why Gemini is launching a crypto coin pegged to the US dollar || Bitcoin Cash: Craig Wrights BSV Suffers Multi-Block Reorg, Wins Drama per Second Battle: bitcoin cash sv blockchain block reorganization Whether under attack or otherwise, Bitcoin Cash SV (BSV), which at present has more than 4,000 unconfirmed transactions, has been experiencing a great deal of turbulence since last weeks hard fork . More importantly: around block 557301, multiple sources identified a block reorganization within the BSV blockchain. Our Bitcoin SV node experienced a 2 block re-org at block 557301. In our view, 2 blocks may not be sufficient to conclude its an attack (false flag or not) pic.twitter.com/ingI40010P BitMEX Research (@BitMEXResearch) November 19, 2018 For those unfamiliar with how the Bitcoin blockchain works , this means that the Bitcoin or Bitcoin Cash or Bitcoin Cash SV clients people derive their information from essentially see a longer chain than the one they were previously working on, which usually means to integrate the new blocks, but instead of being able to do that, the client is by design forced to note that something is different about the previous blocks in the chain. This is probably still confusing. Lets see if we can make an analogy. Dramas per second are increasing on BSV: they just experienced a multiblock reorg at block 557301. These nincompoops cannot operate their own network without shooting themselves in the foot. So much for the "small world" of miners that a certain fraud likes to blague about. pic.twitter.com/RpOkGAIFa3 Emin Gün Sirer (@el33th4xor) November 19, 2018 A shipment of plates comes into a warehouse. Lets assume this warehouse is always getting exactly the same amount of plates as before, plus one. The shipment is never unloaded. All the plates that come in go back out, but they are first unloaded and inspected scanned for accuracy and lack of tampering. Now one day the load comes in, one new plate is in the load, but one or more of the old plates are no longer there or have been replaced with fake (alternative) versions of the plates. In case that still doesnt get it through, the way the Bitcoin Wikipedia explains it is this: The term blockchain reorganization is used to refer to the situation where a client discovers a new difficultywise-longest well-formed blockchain which excludes one or more blocks that the client previously thought were part of the difficultywise-longest well-formed blockchain. These excluded blocks become orphans. Chain reorganization is a client-local phenomenon; the entire bitcoin network doesnt reorganize simultaneously. Story continues This is when a reorganization happens, depending on the rules of consensus in the network and the specific rules being followed by that client or, from our analogy, warehouse. The warehouse just takes note of the change in cargo and carries on its business of checking loads as they come in and go. Its obligated to accept the load with the most unbroken plates. But rampant chain re-organization and lack of consensus can lead to uncertainty and severe network turbulence. Transactions relayed by a node which is using a wrong copy of the blockchain can get stuck, just as blocks which are not a part of the official history recorded in the difficultywise-longest well-formed blockchain can entirely cease to exist. The user experience can look like this: you send a transaction, and once it receives a couple confirmations, you close your wallet. The person or service you sent to reports they never received it, and regular block explorers dont show the transaction as ever having happened that is to say, the coins are back where they started. As you use cryptos more, youll see this on smaller, alternative chains a lot more than youll ever see it in top-10 cryptos like Bitcoin or Bitcoin Cash. Featured Image from Shutterstock The post Bitcoin Cash: Craig Wrights BSV Suffers Multi-Block Reorg, Wins Drama per Second Battle appeared first on CCN . View comments || Ripple CEO Brad Garlinghouse: We’re Not Partnering with SWIFT — We’re Taking Them Over: Ripple CEO Brad Garlinghousewent on Bloomberg TVfor an interview about the usefulness of his company’s technology and told the interviewer that “any digital asset in the long-term is going to be valued based upon the problems it’s solving.”
Rippleis widely believed to be solving the problems of large asset transfers across borders and has dozens of large institutional clients to show for it. Chief Market Strategist Cory Johnson haspreviously dubbedRipple (XRP) “Bitcoin 2.0.”
The Bloomberg segment hasGarlinghousesaying that at least 100 SWIFT-connected banks have signed on with Ripple, and that contrary to SWIFT’s opinion, the blockchain and cryptocurrencies can play a vital role in the banking sector.
“SWIFT said not that long ago they didn’t see blockchain as a solution to correspondent banking. We’ve got well over 100 of their customers saying they disagree.”
XRP trading saw amassive spikelast week on rumors that SWIFT and Ripple were partnering via enterprise blockchain platformRippleNet, a rumor that turned out to be nakedlyfalse. To this end, Garlinghouse made a statement which effectively means Ripple has no intention of co-existing with SWIFT:
“What we’re doing and executing on a day-by-day basis is, in fact, taking over SWIFT.”
Such is the nature of disruption. The strong survive. The more efficient, the better suited, and the most adaptable financial technologies and companies will be what handle the world’s transactions in the future. Ripple’s place in all that is very much to be determined, whileSWIFTremains the primary means of large and small transfers across borders, at least in the countries it legally operates in. Cryptocurrency presents a unique opportunity for banks and investors and other members of the financial community to break down borders and get things done.
Ripple recently pushed to movea securities lawsuitagainst it pertaining to more thaninto federal court. Like any larger entity, particularly in crypto, the firm spends its fair share of time in court. The lawsuit alleges that the company has engaged in a “never-ending ICO” and that XRP should be classified as an unregistered security according to definitions in federal and California law.
Featured Image from Ripple/YouTube
The postRipple CEO Brad Garlinghouse: We’re Not Partnering with SWIFT — We’re Taking Them Overappeared first onCCN.
[Random Sample of Social Media Buzz (last 60 days)]
To Build A #Freedom World For Everyone #Bitcoin and #Cryptocurrency Need #Decentralized Exchanges. #Binance is the Biggest In The World.
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If Your Not #Trading On Here Yet...WOW!
https://ift.tt/2GDdYSu
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#Liberty #AnCap #Voluntaryismpic.twitter.com/GgQGCphskb || 2.07%
4097.03$
4179.72$
4181.39$ || 現在の1ビットコインあたりの値段は713,974.1266円です。値段の取得日時はNov 1, 2018 06:59:00 UTCです #bitcoin #ビットコイン || USD: 112.160
EUR: 129.720
GBP: 147.558
AUD: 79.835
NZD: 72.971
CNY: 16.192
CHF: 113.133
BTC: 698,452
ETH: 22,200
Sat Oct 13 19:00 JST || Yeni bir listeleme promosyonu başlatıyoruz @PALNetwork_!
KuCoin'de en yüksek PAL (alım + satım) miktarına sahip ilk 500 hesap 4,650,000 PAL + 4 BTC'yi ödül olarak paylaşacak!
30/10/2018 13:00:00 ile 06/11/2018 18:59:59 (UTC+3) arasındadır.
https://www.kucoin.com/#/rank/PAL pic.twitter.com/E1efOM58Kx || Bitcoin&NEM相場情報(Zaif)
btc/jpy ( https://zaif.jp/trade_btc_jpy )
時間 12:00 午前
価格 578790
xem/btc ( https://zaif.jp/trade_xem_btc )
時間 11:58 午後
価格 0.00001652
xem/jpy ( https://zaif.jp/trade_xem_jpy )
時間 11:59 午後
価格 9.6222 || 11-28 05:00(GMT)
#SPINDLE price
$SPD (BTC)
Yobit :0.00000024
HitBTC :0.00000022
LiveCoin:0.00000013
$SPD (JPY)
Yobit :0.11
HitBTC :0.10
LiveCoin:0.06 || Current price: $0.014265
Node count: 1841
Total accounts: 666405
Coins burned: 4,866,439.00 TRX
#tron #trx $trx $btc #btc || Serbest #Piyasa
▼ USD: 5,45963 ₺
▲ EUR: 6,21915 ₺
▲ GBP: 7,14878 ₺
▲ EUR/USD: 1,13627 $
▼ Bitcoin: 6424,27 $
▼ Ons Altın: 1223,405 $
▼ Ç. Altın: 351,14231 ₺
▼ Gr. Altın: 214,76973 ₺
00:20:13
#Doviz #Dolar #Euro #Bitcoin #Altin || #Bitcoin - #BreakingNews - (http://Block.one Vows to Use its EOS Tokens to Prevent Voting Cartels) has been published on InsideCryptoToday - https://insidecryptotoday.com/2018/10/block-one-vows-to-use-its-eos-tokens-to-prevent-voting-cartels/ …
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Trend: down || Prices: 4278.85, 4017.27, 4214.67, 4139.88, 3894.13, 3956.89, 3753.99, 3521.10, 3419.94, 3476.11
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2021-11-02]
BTC Price: 63226.40, BTC RSI: 61.03
Gold Price: 1788.70, Gold RSI: 52.70
Oil Price: 83.91, Oil RSI: 66.95
[Random Sample of News (last 60 days)]
Bitcoin plunges on day El Salvador adopts it as national currency: B itcoin fell by as much as 16% on Tuesday just hours after El Salvador's adoption of Bitcoin as a legal tender came into effect and encountered some technical setbacks. After reaching multimonth highs of more than $52,000 over the weekend, Bitcoin and other cryptocurrencies were in the red on Tuesday morning, falling steeply before recovering a bit to about $47,000 by noon, a loss of more than 9% over the past 24 hours. The plunge followed El Salvador's adoption of Bitcoin as a national currency. The country first approved the bold move in June, and the decision has been hailed by Salvadoran President Nayib Bukele as an innovative step that could help propel El Salvador, a poverty-stricken and crime-plagued Central American country, into increased prosperity. The adoption of Bitcoin as legal tender became effective on Tuesday and is an enormous milestone for the cryptocurrency, which was just a blip on the worlds economic radar a few years ago. To begin what is being dubbed Bitcoin Day, or B-Day, the government of El Salvador purchased 400 bitcoins, which is worth more than $20 million as of Tuesday morning. The country also introduced new federal e-wallets called Chivo (slang for cool) as part of the endeavor, which envisions Salvadorans using Chivo to pay for a wide array of products and services. SEC BOSS SAYS CRYPTOCURRENCY CANT LAST LONG OUTSIDE REGULATION: FINANCE IS ABOUT TRUST After Bitcoin began to crash, which happened in just a matter of minutes, Bukele's government purchased even more of the digital asset. "Buying the dip," Bukele tweeted along with a winking emoji. "150 new coins added." The exact reason behind the sharp selloff was not immediately clear, although the drop came as the country faced some issues with its rollout of Bitcoin and Chivo. Chivo didnt immediately appear on Apples app store, which is used by iPhones, and Googles Play store, which is used by Android devices, at midnight local time. It did appear on Huaweis store at about 2 a.m., according to the Wall Street Journal. Story continues There were some glitches with the Chivo system, and hours before the sudden selloff, Bukele tweeted that servers were being temporarily taken offline as Chivo added capacity. Bukeles government has also committed to investing more than $225 million in dozens of Bitcoin ATMs across the country and incentivizing the use of the cryptocurrency by giving away about $30 in Bitcoin to those who use the Chivo system. El Salvadors decision came about two decades after it phased out its use of the Salvadoran colón and began using the U.S. dollar. A government-run Chivo machine that will soon exchange cash for dispense Bitcoin cryptocurrency stands in a booth of the state-owned Banco Hipotecario, in San Salvador, El Salvador, Wednesday, Sept. 1, 2021. Starting Tuesday, Sept. 7, all businesses will have to accept payments in Bitcoin, except those lacking the technology to do so. (Salvador Melendez/AP) Peter St. Onge, a research fellow for economic policy at the Heritage Foundation, told the Washington Examiner on Tuesday that part of the reason El Salvador wanted to adopt Bitcoin is because of the countrys enormous reliance on remittances, which is largely money transferred from immigrants in the United States back to relatives in El Salvador. Bukele has hailed sending those remittances in the form of Bitcoin because he thinks it will help avoid fees and be a cheaper way to send money. The president has said that a big chunk of the $6 billion in remittances sent each year is lost to intermediaries and that Bitcoin and Chivo will help low-income families by helping them avoid those intermediaries. About 70% of Salvadorans do not have a bank account, and Bukele said he hopes that through the use of Bitcoin transfer apps such as Chivo and Strike, more people in the country will be able to have access to banking services. The move has broader implications for the cryptocurrency market and offers more legitimacy to Bitcoin and so-called altcoins such as Ethereum and Cardano because it is being embraced by an entire economy. Other countries that have high inflation, such as Venezuela, will also be closely watching the rollout to see whether turning to Bitcoin may be an effective move for economic prosperity. El Salvador will invariably face some hurdles in expanding its new national currency. Some will be technical in nature (such as how well Chivo functions), but another is simply the mercurial nature of Bitcoin and the cryptocurrency realm in general. As of Tuesday morning, during the launch of Chivo, Bitcoin was valued at more than $52,000, but in a poignant example of the assets volatility, it plummeted to less than $44,000 in a matter of hours before making up some of those losses and clocking in at about $47,000. It dropped to a low of just under $29,000 in July after soaring to a record high of more than $63,000 in April. Most people should not park their life savings in Bitcoin simply because it can go up. It can go down, St. Onge said, noting that if poor Salvadorans start using Bitcoin to hold a large store of their overall wealth, it could create risk for them. CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER Bukele, a young and tech-savvy businessman, tweeted on Tuesday morning that like all innovations, his countrys adoption of Bitcoin as a legal tender has a learning curve, but he said he thinks it has the potential to advance El Salvador towards the first world. Washington Examiner Videos Tags: News , Bitcoin , El Salvador , Cryptocurrency , Finance and Banking , Technology Original Author: Zachary Halaschak Original Location: Bitcoin plunges on day El Salvador adopts it as national currency || NFL teams up with Dapper Labs: Dapper Labs, creators of NBA Top Shot, is to launch a similar project for the National Football League where users will be able to buy and sell NFTs of NFL sports highlights. After funding $250m this past week, launching an NFT market for the NFL was a key move in funding further NFT projects across sports. In what is a shrewd business move, the NFL and the NFL Players’ Association (NFLPA) will possess an equity stake in Dapper Labs per the agreement. The marketplace for the NFL-based NFTs is set to launch before the end of the current football season in January 2022. Dapper Labs also own the crypto derivative exchange FTX who signed an endorsement deal with Green Bay Packers running back Aaron Jones. Jones is one of a number of athletes to have partnered with FTX with NBA star Steph Curry and NFL great Tom Brady acting as brand ambassadors with the exchange. The deal with the NFL makes Dapper Labs the NFLPA’s second-largest source of digital licensing revenue , second only to the EA Sports ‘Madden’ video game series. Athletes entering crypto market With the cryptocurrency market constantly increasing in popularity, we’ve seen countless athletes invest in the industry and in a few cases, attempt to get paid in crypto. In May 2021, then-Brooklyn Nets guard Spencer Dinwiddie attempted to tokenise his $34m contract but he was unsuccessful in his attempt but has since launched an app called Calaxy – aimed at content creators who wish to create personal crypto tokens. NFL veteran Russell Okung, a proud crypto-head, led a Bitcoin meetup for beginners back in 2019 and was vocal about the potential of Bitcoin in sports. View comments || Bitcoin Approaches The $50k Mark As The Crypto Market Starts October Brilliantly: The cryptocurrency market has been performing excellently over the past few hours, and the prices of the coins could soar higher. Bitcoin Surpasses The $47k Level The cryptocurrency market is experiencing an excellent start to the new month. The total cryptocurrency market cap has reached the $2 trillion level again after the values of Bitcoin and numerous other altcoins have increased over the past few hours. Bitcoins price is up by more than 10% over the past 24 hours. The leading cryptocurrency was struggling to trade above the $40k mark earlier this week as the bearish trend in the market thickens. However, Bitcoins performance over the past 48 hours has been excellent, surpassing the $45k mark to currently trading above $47k. If Bitcoin and the broader cryptocurrency market can maintain this current momentum, then BTC could be trading above the $50k mark over the coming hours or days. It would be less than 30% down from its all-time high position of nearly $65k. Despite the bearish sentiment that gripped the market in recent months, some analysts were optimistic that Bitcoin would resume its rally before the end of the year. Some have predicted that BTCs price could touch $100k over the coming 2-3 months. For Bitcoin to reach $100k, its price has to double from its current trading value. BTC/USD 4-hour chart. Source: FXEMPIRE Bitcoin and the broader cryptocurrency market have been gaining more retail and institutional investors despite the existing market conditions. More institutional investors, such as MicroStrategy, were buying more bitcoins. Thus, indicating that they were bullish on its price. In the coming days, Bitcoin could surpass the $50k mark if the current market condition persists. Altcoins Are Not Left Behind The cryptocurrency markets rally is not only limited to Bitcoin but with numerous other cryptocurrencies also rallying at the moment. Ether, the leading altcoin in the world, is trading above $3,200 after the cryptocurrencys price rose by more than 9% in the past 24 hours. Binance Coin (BNB), Polkadot (DOT) and Solana (SOL) are all up two-digit percentages following the latest market rally. Dogecoin, XRP and Cardano (ADA) are also rallying as most of the cryptocurrencies recover some of their recent losses. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Weekly Price Forecast Australian Dollar Continues Choppy Behavior USD/JPY Price Forecast US Dollar Continues Choppy Behavior USD/CAD Daily Forecast Canadian Dollar Moves Higher Ahead Of The Weekend Natural Gas Weekly Price Forecast Natural Gas Markets Spiked for the Week USD/CAD: Loonie Range-Bound But On Track To End The Week Lower Silver Weekly Price Forecast Silver Markets Clinging Onto $22 View comments || Link Global Technologies Provides an Update on AUC Staff Proposal: VANCOUVER, BC / ACCESSWIRE / September 30, 2021 / LINK GLOBAL TECHNOLOGIES INC. (CSE:LNK)(FRA:LGT)(OTC PINK:LGLOF) ("LINK" or the "Company"), an innovative power and infrastructure solutions provider for Bitcoin mining, and data hosting operations, provides this update on developments in Alberta. As announced on August 19, 2021, the Company entered a six-month collaboration with the Alberta Utilities Commission ("AUC" or the "Commission") and AUC enforcement staff. The joint submission came from arising concerns raised about the Company's operations in Alberta. A decision was made by the AUC requiring the Company to seek approvals or exemptions for two of the smaller operating facilities and halt these operations until approvals or exemptions are obtained. In addition, the AUC invited further submissions from their enforcement staff and Link Global concerning whether "disgorgement of economic benefits" should be included as an administrative penalty. Staff have now provided their proposal to the Commission for disgorgement. Stephen Jenkins of Link Global says "Enforcement Staff have filed their submission recommending disgorgement and Link Global will be responding. We have acknowledged we made some mistakes and have worked hard to rectify those however we have followed the orders of AUC since being notified of issues in early 2021. Our business works to respect the laws, the people, and the environment and we believe that our submission to the AUC will make this apparent." Jenkins goes on to say; "The team working on the Link Global submission will provide facts and evidence to show what would be only the second disgorgement order in AUC history is unwarranted. Link has followed the orders issued by the AUC and believes that what enforcement staff is proposing is punitive and not consistent with the AUC's August 19, 2021 decision and earlier operating requirements during the process. I apologize to our shareholders who do not deserve this. We will work tirelessly to ensure the outcome is positive." Story continues About Link Global Technologies Inc. Link is engaged in providing infrastructure and operating expertise for digital mining and data hosting operations. Link's objectives include locating and securing, for lease and option to purchase, properties with access to low-cost, reliable power, and deploying this low-cost power to conduct digital mining and supply clean energy and infrastructure for other data-hosting services. To learn more about Link's activities, visit us at https://linkglobal.io/ On behalf of Link Global Technologies Inc. Stephen Jenkins Chief Executive Officer & Director For more information, visit http://linkglobal.io/ or contact: Steve Jenkins [email protected] +1-877-770-6545 For investor information, please contact: Omar Diaz Investor Relations Manager [email protected] 604-551-2950 The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION. This news release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements consist of statements that are not purely historical and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "forecast", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes", or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results "may", "would", "could", "should" or "might" occur. Forward-looking statements made in this news release include, but are not limited, to: statements with respect to the Facility and the terms and potential benefits thereof;and other business plans of the Company. All such forward-looking statements are based on factors or assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions based on historical trends, current conditions and expected future developments. Since forward-looking statements relate to future events and conditions, by their very nature they require making assumptions and involve inherent risks and uncertainties. The Company cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking statements. In the case of the Company, these risks, uncertainties, assumptions and other factors include, without limitation:; those set out in the Company's most recent MD&A, fluctuations in the price of electricity, fluctuations in the price of digital currencies/Bitcoin, the future potential halving of Bitcoin, increases in the network difficulty rate and price of digital currencies/Bitcoin, negative changes in the level of digital currency/Bitcoin rewards per block, the securing of economic rates for the purchase of power, the opportunities for acquiring digital currency mining hardware, unanticipated changes in laws, regulations or other industry standards affecting the business of the Company, reliance on key management personnel, the Company's ability to implement its business plan, litigation risk, stock price volatility, the effects of general economic and other factors beyond the control of the Company, and other matters that may occur in the future. Given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of the date hereof. Other than as specifically required by law, the Company undertakes no obligation to update any forward-looking statements to reflect new information, subsequent or otherwise. SOURCE: Link Global Technologies Inc. View source version on accesswire.com: https://www.accesswire.com/666311/Link-Global-Technologies-Provides-an-Update-on-AUC-Staff-Proposal || Stock Market Today: Dow, S&P 500 on the Verge of Fresh Highs: A mountain climber nears the top Getty Images Wall Street did its best duck impression Wednesday, with its feet kicking like crazy under the water, even if things looked pretty calm up top. The third-quarter earnings season extended a promising start with help from the healthcare sector. Abbott Laboratories ( ABT , +3.3%) breezed past Q3 revenue and earnings expectations and raised its full-year profit guidance. Insurer Anthem ( ANTM , +7.7%) hit a record high after beating estimates and saying COVID-19 should weigh less on its bottom line next year. SEE MORE 15 U.S. Cities With the Highest Average Home Prices Telecom Verizon ( VZ , +2.4%) also stood out with a decent gain after reporting a second consecutive quarter of subscriber growth and upping full-year forecasts. "This earnings season could be highly important for investors, as inflation, labor, supply and currency risks settle in," says Lauren Goodwin, economist and portfolio strategist at New York Life Investments. "We expect strong results, as earnings reports so far indicate that many large U.S. companies have generated higher profitability despite rising labor costs, thanks to sustained sales growth." But big moves weren't exclusive to earnings reactions. Pinterest ( PINS , +12.8%) rocketed higher on reports that the social media platform is in late-stage talks to be acquired by PayPal ( PYPL , -4.9%). Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice. Outside the equity markets, Bitcoin (+3.6% to 66,416.40) raced above its previous all-time high around $65,000, spurred by optimism over the launch of the first Bitcoin futures ETF . (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m. each trading day.) Despite all this, the major indices themselves didn't move much. The Dow Jones Industrial Average (+0.4% to 35,609) neared record highs with its fifth consecutive advance, as did the S&P 500 (+0.4% to 4,536), which has gained in six straight sessions. Relative weakness in tech, however, snapped the Nasdaq Composite's five-day win streak with a marginal decline to 15,121. Story continues SEE MORE The 21 Best Stocks to Buy for the Rest of 2021 "Earnings have provided the catalyst to kick off this (recent) rally," says Michael Reinking, senior market strategist at the New York Stock Exchange, "in part because the numbers have been positive, but also in helping to shift the focus from the negative macro headlines that have plagued investors throughout the end of the summer into the fall." Other news in the stock market today: After the closing bell, Tesla ( TSLA ) reported earnings of $1.86 per share on revenues of $13.76 billion, both of which beat Wall Street consensus estimates ($1.59 per share and $13.63 billion, respectively). The stock was marginally down in after-hours action following a marginal gain during regular Wednesday trade During regular hours, Netflix ( NFLX , -2.2%) was in focus after the streaming giant reported earnings. In the third quarter, NFLX brought in higher-than-expected earnings of $3.19 per share on in-line revenues of $7.48 billion. The company also said it added 4.4 million global paid net subscribers over the three-month period, more than the 3.84 million analysts were expecting. Oppenheimer analysts maintained their Buy rating and lifted their price target by $130 to $750 in the wake of the results – the latter representing implied upside of roughly 20% to today's close at $625.14. Massive hyperlocal production operations and the ability to distribute content globally is creating a wider moat for NFLX, while the company's pricing power "will be critical to maintaining solid top-line growth in the U.S. and Canada," they wrote in a note. Ford ( F ) jumped 4.0% after Credit Suisse analyst Dan Levy upgraded the auto stock to Outperform from Neutral (the equivalents of Buy and Hold, respectively). "When we downgraded Ford early last year, our concern was that Ford was struggling in balancing the 'two clocks' – near-term execution issues would ultimately limit Ford's ability to adequately prepare for the long-term transition of the auto industry," he says. "Yet in the past year-plus, we've seen a significant turnaround underway at Ford." In addition to ending its "cycle of quarterly earnings disappointments," the company has sharply accelerated its shift to electric vehicles (EV) , which Levy believes will "be at the core of improving long-term perception." The small-cap Russell 2000 enjoyed a 0.6% improvement to 2,289. U.S. crude futures surged 1.2% to settle at $83.42 after the Energy Information Administration (EIA) said domestic crude inventories unexpectedly fell last week. Gold futures rose 0.8% to finish at $1,784.90 an ounce. The CBOE Volatility Index (VIX) was down 1.3% to 15.49. stock chart for 102021 YCharts Also Pay Attention to Interest Rates While the Dow and S&P 500 are mere points away from all-time highs, the tech-heavy Nasdaq still has roughly 2% to go after about a month or so of underperformance relative to its index peers. SEE MORE The Best Vanguard Funds for 401(k) Retirement Savers You can put some of the blame on their sensitivity to interest rates; The 10-year Treasury's yield has climbed from 1.3% at the start of September to 1.6% of late – its highest point since mid-May. While the Federal Reserve isn't expected to lay a hand on its benchmark Fed funds rate until late 2022, longer rates could still keep the pressure on by inching higher. Indeed, Kiplinger forecasts a 1.8% yield on the 10-year T-note by early 2022. But one stock's pain can often be another stock's gain, and that's the case with interest rates, which could keep cramping the technology sector while buoying other parts of the market. These 10 stocks , for instance, greet higher rates with open arms as they can often be a direct boost to the bottom line. Most of these picks reside within the financial sector, but that's not the only way to reap rewards from rising rates. These seven exchange-traded funds (ETFs) , for instance, allow investors to access several strategies across multiple asset classes that should benefit if interest rates continue to swell. SEE MORE 11 Hot Upcoming IPOs to Watch For in the Rest of 2021 You may also like Your Guide to Roth Conversions The 25 Cheapest U.S. Cities to Live In 4 Big Retirement Blunders (and How to Avoid Them) || FOREX-Dollar steady after jobs miss as taper hopes remain intact: * U.S. job growth slows sharply in September * Dollar index down 0.1% on the day * Bitcoin up 1% (Updates prices, market activity, comments to U.S. market opening; changes dateline, previous LONDON) By Saqib Iqbal Ahmed NEW YORK, Oct 8 (Reuters) - The U.S. dollar was largely unmoved by a disappointing U.S. employment report on Friday, as traders bet that the lacklustre numbers may not sway the Federal reserve from starting a tapering of its asset purchases as early as November. The Labor Department said in its employment report on Friday that nonfarm payrolls increased by 194,000 jobs last month. Economists polled by Reuters had forecast payrolls increasing by 500,000 jobs. The fact that the gain in jobs was modest could temper expectations for a swift acceleration in economic growth following an apparent sharp slowdown in the third quarter, but is unlikely to stop the Federal Reserve from starting the process of reducing its monthly bond purchases as soon as November, analysts said. September's employment report is the last one available before the Federal Reserve's Nov. 2-3 policy meeting. "(It's a) miss on the headline number for sure, but the underlying details are not as really nefarious as the top-line miss would suggest and so, ultimately, it’s still consistent with the Fed delivering taper next month," said said Mazen Issa, senior FX strategist, at TD Securities in New York. The dollar index, which tracks the greenback against six major currencies, was down 0.1% at 94.103, not far from the one-year high of 94.504 touched last week. "Price action in the dollar suggests that participants are seeing the silver lining, keeping expectations for a taper decision anchored around November or December, with the first rate hikes landing in autumn 2022," said Karl Schamotta, chief market strategist at Cambridge Global Payments in Toronto. TD's Issa said the disappointing jobs number could lead to a dip in the dollar but any such weakness was likely to be fleeting. Story continues "I think the market is going to need a lot more convincing that just one jobs report that’s on the softer side is going to price the Fed out beyond late 2022 and into 2023," Issa said. In the week following jobs data the dollar tends to reverse most of the gain or loss that has occurred from the day of the NFP release, FX strategists said in a BofA Global Research report on Thursday. The weaker dollar helped sterling steady on Friday, putting it on track to close out the week up 0.6%, its weekly performance in 5 weeks, as interest rate hike expectations offset worries about a fuel crisis and labour shortages. In the digital currency space, bitcoin, the world's biggest cryptocurrency by market value, was 1.1% higher at $54,398.28, just shy of the 5-month high of $56,168 touched earlier in the session. Bitcoin is up about 13% for the week, its second straight weekly gain. (Reporting by Saqib Iqbal Ahmed; Additional reporting by John McCrank; Editing by Kevin Liffey) || Why Perrigo's Stock Is Trading Higher Today: Perrigo Company plc (NYSE: PRGO ) shares are trading higher after the company announced it will acquire HRA Pharma for $2.1 billion in cash. "The acquisition of HRA would be the crowning achievement in that transformation. With the addition of HRA and its talented leadership team, Perrigo would be a consumer self-care global leader that is poised to deliver top tier net sales growth and double-digit EPS growth in the near-term while concurrently expanding margins," said Murray S. Kessler, CEO and President, Perrigo. Perrigo is the leading provider of over-the-counter generic drugs with over 100 global locations. The company was formed in 1887 as a packager of home remedies and has grown with the migration of prescriptions switching to OTC and later with strategic acquisitions. Perrigo's stock was trading about 8.9% higher at $45.31 per share at the time of publication. The stock has a 52-week high of $51.10 and a 52-week low of $38.20. See more from Benzinga Click here for options trades from Benzinga Why Bitcoin-Related And Ethereum-Related Stocks Are Moving Today Why Globalstar's Stock Is Trading Higher Today © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Korean Robo Advisor Debuts 2 US ETFs: A robo advisor provider in South Korea made its debut on the U.S. ETF markets with two thematic offerings.
TheFount Subscription Economy ETF (SUBS)and theFount Metaverse ETF (MTVR)debuted on the NYSE Arca Thursday, each charging an expense ratio of 0.70%.
Fount has operated a robo advisor platform in South Korea since 2018, and claimed more than $730 million in assets under management as of March 2021. It uses artificial intelligence to generate portfolios for customers based on their goals.
That AI is put to use in developing an index of 50 U.S. and foreign companies that are expected to generate at least half of their revenues from subscriptions in the case of SUBS, or 50 companies engaged in creating a metaverse in the case of MTVR.
The metaverse is the concept of combining multiple computer-generated 3D spaces with the physical world. The concept already exists through virtual reality headsets and augmented-reality apps like Snapchat and Pokemon GO that superimpose animations over live images from a camera, and Facebook CEO Mark Zuckerbergsaid earlier this yearhe wants to transition his firm into a metaverse company over the next five years.
MTVR will go up directly against theRoundhill Ball Metaverse ETF (META), another passive ETF, which launched in late June and has gained $122.4 million in assets. There is no existing ETF that specifically targets companies using a subscription model. It is likely that SUBS’ constituent companies will overlap heavily with consumer discretionary ETFs and funds investing in content streaming firms.
Contact Dan Mika [email protected], and follow him onTwitter
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Permalink| © Copyright 2021ETF.com.All rights reserved || GLOBAL MARKETS-Asian shares track U.S. peers higher; dollar gains on yen: * Dollar again up vs yen at almost three-year high * Oil prices back near multi-year highs * Chinese blue chips, Hong Kong shares little changed By Alun John HONG KONG, Oct 15 (Reuters) - Asian shares advanced on Friday, warmed by the embers of a strong day on Wall Street which also supported risk-friendly currencies and hurt the safe-haven yen, though worries about the Chinese economy capped gains. Oil prices were also back testing new multi-year highs, a drag on growth in energy-importing markets in north Asia, but good news for energy-exporting markets in Southeast Asia. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.6%, and Japan's Nikkei rose 1.08%. U.S. stocks powered ahead overnight after data showed a fall in new claims for unemployment benefits, lower-than-expected factory gate price inflation and forecast-beating results for the four largest U.S. consumer banks. The Dow Jones Industrial Average jumped 1.57%, the S&P 500 climbed 1.46%, and the Nasdaq Composite leapt 1.68%, though analysts said Asia looked unlikely to match these rises. "(US gains) will boost sentiment in pockets, but what we've seen in Asian markets recently, especially mainland China and Hong Kong shares, is regional concerns have overridden some of the more positive sentiment that comes out of U.S. markets," said Kyle Rodda, an analyst at IG markets. "My sense is that things are going to remain fairly mixed and volatile in Asian markets." Chinese blue chips dropped soon after the bell, but were last flat, while Hong Kong shares returned from a one-day break to open higher before retreating also to be flat. U.S. stock futures, the S&P 500 e-minis, gained 0.15%. A data dump from China due Monday is high on investors' minds, with the world's second-largest economy due to report third-quarter GDP figures as well as monthly investment and activity figures. "We expect GDP growth to slow to 4.6% year-on-year in the third quarter from 5.6% previously, in view of persistent weakness in consumption and services amid repeated COVID outbreaks, and the fading of the low year-earlier base," said Barclays analysts in a note. Story continues On Thursday, China's September factory-gate inflation rose to a record on soaring commodity prices, but weak demand capped consumer inflation, leaving policymakers to walk a tight rope between supporting the economy and further stoking producer prices. In currency markets, the dollar rose again to a near-three- year high on the yen on Friday with one dollar buying 113.89 yen, the most since December 2018. The dollar index, which measures the greenback against a basket of currencies, was marginally lower on the day, at 94.00 and set for its first weekly decline versus major peers since the start of last month, having lost a little ground on sterling and the euro. The yield on benchmark 10-year Treasury notes was 1.5247%, little changed on the day, after trending downwards this week from Tuesday's four-month high of 1.631%. The Australian dollar took a breather on Friday near its month-high hit a day earlier, which CBA analysts said was due to the weaker dollar and firm commodity prices. U.S. crude gained 0.63% to $81.82 a barrel, back near Monday's seven-year high of $82.18. Brent crude rose 0.58% to $84.50 per barrel, approaching a three-year high hit Monday. Bitcoin is also testing multi-month highs, trading around $57,100 after touching a five-month high of $58,550 on Thursday, with bitcoin bulls talking up the chance of it surpassing April's all-time high $64,895.22 in the coming months. (Reporting by Alun John; Editing by Muralikumar Anantharaman) || Price of Gold Fundamental Daily Forecast – Struggling Against Firm US Dollar: Gold futures are trading flat early Tuesday after posting a technical reversal the previous session following a test of its lowest level since August 11. With the trend down, the price action probably reflected short-covering and position-squaring since the bearish traders have to get out of the way before the real buyers can gain control. In other words, gold went up because weak short decided to bailout, not because of the presence of strong buyers. At 03:13 GMT, December Comex gold traders are trading $1763.90, up $0.10 or +0.01%. Monday’s short-covering rally was likely fueled by a dip in Treasury yields and some hedge buying tied to the steep sell-off in the global equity markets. The strong U.S. Dollar likely put a lid on the rally. Gold did not go up because it is a safe-have asset. Gold is an investment, not a safe-haven. That’s old school thinking. The true safe-havens are U.S. Treasurys, the U.S. Dollar and the Japanese Yen . When there’s trouble like potential contagion from the financial turmoil coming out of China, investors want safety and liquidity. To some, gold is a safe-haven, but the liquidity can’t compare to the Treasury and foreign currency markets. A few weeks ago I read some analysis on FXEmpire.com where a fellow was saying gold would rally during an upcoming stock market crash. On September 2, the benchmark S&P 500 Index hit an all-time high of 4545.85. On September 20, it reached a low of 4305.91. This is a 5.28% loss. On September 3, December Comex gold hit a high of $1836.90. On September 20, it hit a low of $1742.30. This is a 5.15% loss. So if you do the math, gold has outperformed the S&P 500 Index since September 3. I’m being sarcastic, of course. My point is, the direction of gold is controlled by interest rates and at time the U.S. Dollar. Gold tends to react to stock market crashes when the Federal Reserve floods the financial system with massive amounts of liquidity. I don’t they’re going to do that now just one-day before the start of a two-day meeting where they will be discussing whether to begin pulling liquidity out of the market. Story continues So if gold rallies from current price levels, the move will likely be fueled by short-covering and position-squaring. If the stock market drops another 5 to 10% over a short period of time, the Fed may have to do something, but they don’t have a lot of tools left in their toolbox with interest rates already sitting near zero. The chances of a powerful gold rally are slim because I don’t think the Fed will lower rates because they can’t and I don’t think they are going to increase their bond purchases to provide more liquidity because they are close to reducing their massive stimulus program. At best, the Fed will leave its bond purchases at current price levels and take a pass on tapering until later in the year when the stock market could be more stable. Even if gold does pop to the upside, it’s likely to be another shorting opportunity. 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: European Equities: A Quiet Economic Calendar to Test Support Further How To Visualize A Market Dip E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Strong Over 34132, Weak Under 33826 USD/JPY Fundamental Daily Forecast – More Downside Pressure Likely as Financial Markets Remain Unsettled Bitcoin Rebounds After Serious Sell-Off USD/CAD Exchange Rate Prediction – The Dollar Rise on Risk-off Trade
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 62970.05, 61452.23, 61125.68, 61527.48, 63326.99, 67566.83, 66971.83, 64995.23, 64949.96, 64155.94
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2020-09-16]
BTC Price: 10974.91, BTC RSI: 52.55
Gold Price: 1960.20, Gold RSI: 54.95
Oil Price: 40.16, Oil RSI: 49.35
[Random Sample of News (last 60 days)]
First Mover: Bitcoin Rises More in One Day Than Stocks Have Gained All Year: Bitcoin prices surged 5% on Wednesday, outpacing stocks and gold amid calls for more government stimulus, as the economic toll of the coronavirus mounts.
The oldest and largest cryptocurrencyrose to $11,755. The price is now approaching $12,000 for the second time in a week, a level thatbitcoinhasn’t sustainably traded above for more than a year.
You’re readingFirst Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money so you don’t have to. You cansubscribe here.
Related:Blockchain Bites: Bulls Reborn, Backrunning Bots, Bitmain Blowout
Bloomberg News went so far as to declare in an article Wednesday that “bitcoin mania appears to be almost back in full bloom.”
Bitcoin is seen by many digital-asset investors as a hedge against inflation, and the bets are growing that governments and central banks will have to pump trillions of dollars more into the financial system to stimulate the economy out of the worst recession since the 1930s.
Gold, historically seen as a reliable inflation hedge,surged this week to a new record above $2,000.
Yet, even gold’s 35% gain this year is no match for bitcoin’s 63% price increase. The Standard & Poor’s 500 Index is now up 3% on the year, with some traditional investors arguing that stocks have become detached from reality, merely propped up by the roughly $3 trillion of freshly created money that the Federal Reserve has pumped into the global financial system this year.
Related:Bitcoin Entering 'New Adoption Cycle,' Coin Metrics Exec Says
“Bitcoin and the crypto markets are once again able to claim independence from the traditional markets,” Mati Greenspan, co-founder of the foreign-exchange and cryptocurrency analysis firm Quantum Economics, wrote Wednesday in a newsletter.
The U.S. government’s budget deficit this fiscal year is projected to soar to $3.7 trillion, far surpassing the previous record of $1.4 trillion in 2009, according to theAssociated Press.
An extra $600-per-week federal benefit for laid-off workers lapsed last week, threatening the economic recovery, and U.S. lawmakers arewrangling over the detailsof a new spending measure that could range from $1 trillion tomore than $3 trillion.
“Bitcoin’s long-term value proposition as a hedge against fiat currency debasement only grows stronger,” Anil Lulla, of cryptocurrency research firm Delphi Digital, noted Wednesday in anop-ed for CoinDesk.
The International Monetary Fund warned this week in ablog postthat “another bout of global financial stress could trigger more capital flow reversals, currency pressures and further raise the risk of an external crisis for economies with preexisting vulnerabilities, such as large current account deficits.”
All that just plays to bitcoin’s strengths, as more investors start to extrapolate the likely stimulus needed to recover from a protracted economic downturn. According Bloomberg News, analysts for the U.S. bank JPMorgan wrote Tuesday that while older investors are buying gold,younger investors are buying bitcoin.
The analysis firm Coin Metrics noted that over the past week bitcoin had averaged over 1 million daily active addresses for the first time since January 2018. That was in the wake of the cryptocurrency hitting an all-time high around $20,000 in 2017.
And Norwegian cryptocurrency-analysis firmArcane Research noted in a report this weekthat bitcoin daily trading volumes have been “growing strongly,” with several days topping $2 billion. The number of open bitcoin futures contracts on the CME exchange has jumped to a new record around $850 million.
“The strong momentum in the market continues,” Arcane wrote. “The sharp rise in open interest at CME is a clear indication of increased institutional demand for bitcoin.”
Chris Thomas, head of digital assets for broker Swissquote,told CoinDesk’s Daniel Cawreyon Wednesday that bitcoin could break past $12,000 by Friday.
The signs certainly appear to be pointing in that direction.
BTC: Price: $11,700 (BPI) | 24-Hr High: $11,807 | 24-Hr Low: $11,380
Trend: Bitcoin is looking north after twin bullish cues were activated by a 5% rally Wednesday.
Firstly, with the UTC close at $11,755, bitcoin marked an upside break of a narrowing price range witnessed Monday and Tuesday.
In addition, Wednesday’s UTC close established a strong foothold above $11,400. The bulls had repeatedly failed to keep gains above that level on Monday and Tuesday.
The combination of range breakout and convincing move above a key hurdle has opened the doors for a re-test of recent highs above $12,100.
Still, the case for a rally to recent highs would only weaken if prices fall back below the former hurdle-turned-support of $11,400. At press time, bitcoin is changing hands near $11,700.
• First Mover: Bitcoin Rises More in One Day Than Stocks Have Gained All Year
• First Mover: Bitcoin Rises More in One Day Than Stocks Have Gained All Year || US Stocks Finish Higher as Tech Stock Gains Offset Weak Economic Data: The NASDAQ Composite finished at a record high on Thursday, with the run in heavyweight tech stocks also carrying the S&P 500 and Dow higher. Investors shrugged off downbeat U.S. economic data that affirmed the Federal Reserve’s view of a difficult road to economic recovery. In the cash market on Thursday, the benchmark S&P 500 Index settled at 3385.51, up 10.66 or +0.36%. The blue chip Dow Jones Industrial Average finished at 27739.73, up 46.85 or +0.19% and the technology-based NASDAQ Composite closed at 11264.95. Another Record Setting Week for NASDAQ and S&P 500 The NASDAQ clocked its 19 th record closing high since early June, when it confirmed its recovery from the coronavirus sell-off. Thursday’s record close was its 35 th so far this year compared with 31 record closing highs in 2019 and 29 in 2018. Meanwhile, the benchmark S&P 500 Index completed its fastest recovery from a bear market this week, joining the NASDAQ in scaling new peaks. It also confirmed a bull market for the S&P 500 Index. Economic Data Confirms Fed’s Gloomy Outlook Stocks were pressured early in the session by data that showed initial jobless claims rose unexpectedly back above the 1 million mark last week after slipping below that level for the first time since the start of the pandemic. The volatility in jobless claims followed the lapse of an extra $600 weekly unemployment benefit at the end of July and came as Democrats in Congress have failed to reach an agreement with the White House on extending it. According to the minutes released on Wednesday, the Fed’s latest policy meeting gave a somber assessment of the U.S. economy as it grapples with the pandemic, but ruled out, for now, more dovish easing policy measures. Separate data from the Philadelphia Fed showed a business conditions index fell more than expected in August. Sectors and Stocks Economically sensitive financial and energy sectors were some of the biggest percentage losers among the major S&P sectors. Story continues Gains in Apple Inc. – the only publicly listed U.S. company to cross the $2 trillion market value milestone – Amazon.com Inc. and Microsoft Corp. underpinned the three main indexes’ gains as investors bet they would ride out the economic crisis. Nvidia Corp. edged higher after posting better than expected quarterly sales forecast. Intel Corp. rose after announcing a $10 billion share buyback plan. L Brands Inc. advanced after reporting a surprise quarterly profit, boosted by strong demand for Bath & Body Works’ products as well as higher online sales of Victoria’s Secret lingerie. 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: US Stocks Finish Higher as Tech Stock Gains Offset Weak Economic Data Gold Price Futures (GC) Technical Analysis – Strong Over $1949.40; Trigger Point for Breakdown is $1928.90 Fed Can Control Yield Curve. But It Can’t Control Gold Crude Oil Price Update – Key Support Remains $42.01; Trigger Point for Breakdown is $41.33 Bitcoin Struggling to Break 78.6% Fib in Triangle EUR/USD Daily Forecast – Euro Tries To Continue Its Rebound || Iran May Fund Car Imports With Cryptocurrency Mining: With Iran’s national currency, the rial, suffering from hyperinflation, some in the nation are proposing locally mined cryptocurrency might be a way to fund car imports.
• ArzDigitalreported that Gholam Hossein Mozaffari, CEO of the Kish Free Zone Organization, said he hopes an agreement will be reached with the central bank to use cryptocurrency produced in Iran to fund imports.
• The Central Bank of Iran had told the organization that because of currency inflation and the current economic conditions in the country it could not provide the funding needed, Mozaffari said.
• “Our next suggestion was that we would provide the required currency through the digital currency produced in the free zones, the origin and amount of which are known, and do not put any pressure on the country’s currency,” he said.
• According to reports three weeks ago, inflation in Iran hadreached as high as 30% year on year.
• U.S.-led sanctions against the nation, as well as endemic corruption and economic mismanagement, are cited as being major factors behind the high inflation level.
• According to Mozaffari, cryptocurrencies are already being mined on Kish Island and he hopes to soon meet with the head of the central bank to discuss the possibility of using that income to fund the auto imports.
• He would also call on the private sector to launch a cryptocurrency exchange, he said.
• “If the central bank allows this, it [would be] possible to import cars with digital currency for these three free zones, and the car problem can be solved.”
• Amid the hyperinflation, Iran’s government has been moving to permit cryptocurrency mining, under certain restrictions, to bring in much-needed foreign capital.
• In May, President Hassan Rouhaniordered the governmentto draw up a renewed national approach for the growing industry.
Read more:Iran Issues License for Nation’s Biggest Bitcoin Mining Operation
• Iran May Fund Car Imports With Cryptocurrency Mining
• Iran May Fund Car Imports With Cryptocurrency Mining
• Iran May Fund Car Imports With Cryptocurrency Mining
• Iran May Fund Car Imports With Cryptocurrency Mining || Discrete Log Contracts Are Bringing Private, ‘Scriptless’ Smart Contracts to Bitcoin: “Republican_win”; “Democratic_win.” These are the parameters (and call functions) for the first smart contract escrowed bet placed on Bitcoin’s mainnet.
On Sept. 8, BTCPay Server founder Nicolas Dorier and Suredbits founder Chris Stewart entered the bet on the 2020 U.S. presidential election outcome using a discrete log contract (DSL), a form of smart contract that became feasible on Bitcoin just this year, thanks to independent Bitcoin developer Lloyd Fournier’s technical advancements in the realm of so-called“scriptless-scripts”on Bitcoin’s blockchain.
As for who took which side of the bet, Dorier and Stewart didn’t say. Even after Election Day when the votes are tallied we still won’t know who won the bet. And that’s very much the point.
Related:Bakkt Bitcoin Futures Daily Trading Volume Hits Record High
Otherwise, the contracts wouldn’t be discrete.
Described by developer Gert-Jaap Glasbergen as“invisible smart contracts,”discrete log contracts are structured to look like standard multi-signature transactions on Bitcoin’s blockchain. If someone were searching for the transaction on the ledger, they would have no way of knowing it’s a smart contract or, in Dorier and Stewart’s case, the details of the bet.
These smart contracts have theoretically been feasible since Bitcoin’s inception, but groundbreaking work with ECDSA adapter signatures (a cryptographic signature scheme that enables “scriptless scripts” to execute smart contracts without relying on Bitcoin’s scripting language) in the past year has brought them from theory to application.
Read more:RGB Continues Its Work to Bring Better Smart Contracts to Bitcoin
Related:First Mover: Binance's CZ Doesn't Even Dispute That DeFi Might Be Inevitable
“Technically DLCs could have been done since the original release, but a lot of the building blocks weren’t known back then. For instance, for DLCs we useECDSA adapter signatures, whose application for this use case wasn’t discovered until this year [by Lloyd Fournier],” Suredbits developer Ben Carman told CoinDesk.
Suredbits is one of the primary actors pioneering DLC development along with Crypto Garage, Atomic Loans, Square Crypto-funded independent developer Loyd Fornier, and Chaincode Labs developer Antoine Riard.
The structure of a DLC transaction is pretty straightforward. Building on the bet between Dorier and Stewart, two parties send funds to a multi-signature address. In order to settle the transaction, an oracle would sign the contract with a signature that corresponds to the hash of the winning outcome (in this case, either Republican_Win or Democrat_Win).
The person with the hash that corresponds with the oracle’s signature can then withdraw the funds from the contract.
In Carman’s words, “It’s fancy cryptography to show that your contract is based on the oracle signature and you can only spend the funds if you have that valid oracle signature.”
Carman said DLCs are “still super early,” so much so that the teams working on them are still creating libraries for coding specifications.
He added that DLCs could even find a home on the Lightning Network, but this would take some advancements considering that current implementations are not hard coded to accommodate ECDSA adapter signatures.
Accommodating ECDSA on Lightning would require the addition of point-time-lock-contracts (PTLCs), anin-the-works upgraded versionof the hash-time-lock-contracts that currently operate on Lightning.
Schnorr signatures would be an ideal base for implementing PTLCs. The long-awaited Schnorr/Taproot upgrade is essential still for DLCs in general, Carman said. Even though DLCs can be executed today, more advanced use cases will be much easier to implement if Bitcoin’s codebase receives a boost from the Schnorr/Taproot softfork.
Read more:Bitcoin’s Future: Exactly How a Coming Upgrade Could Improve Privacy and Scaling
“Betting will be the primary use-case in the beginning – so, elections, sports and what-have-you,” Carman told CoinDesk. “Once it’s more established and we have a market for defining counterparties for trades, there will be use-cases for hedging or synthetic assets.”
The hedging use case is outlined by Glasbergen in his “Invisible smart contracts on the Bitcoin blockchain” blog post. The “forward contracts” would entail two parties entering a DLC, with one party agreeing to purchase a certain amount ofbitcoin(BTC) for an agreed-upon price, and the other party providing the liquidity for this purchase.
When the time comes for the contract to settle, the contract pays the buyer the amount of bitcoin per the price specified at the time the contract was formed, not per the current exchange rate. In essence, these forward contracts are a way to long or short bitcoin.
These same forward contracts could be used to settle synthetic commodities (DLC contracts that represent commodities like gold and/or silver, for example) in bitcoin-denominated terms, as well.
• Discrete Log Contracts Are Bringing Private, ‘Scriptless’ Smart Contracts to Bitcoin
• Discrete Log Contracts Are Bringing Private, ‘Scriptless’ Smart Contracts to Bitcoin || British teenager charged with hacking Twitter celebrities faces extradition to the US: Twitter accounts belonging to Kim Kardashian and her husband, Kanye West, were said to have been targeted - Evan Agostini A British teenager charged with hacking Twitter had his home searched by the National Crime Agency and is likely to face extradition to the US, the Sunday Telegraph can reveal. Mason Sheppard, a 19-year-old from Bognor Regis, was one of three people charged by the US Department of Justice on Friday night over an alleged cyber scam that saw the accounts of various celebrities hijacked last month. Sources told the Sunday Telegraph Mr Sheppard, who is said to go by the codename Chaewon, could face extradition if prosecutors in the US put in a request. However, he has not been arrested by officers in Britain, who are assisting in their investigation. Mr Sheppard is in a long line of British people accused of hacking who have been at risk of extradition. Gary McKinnon , a hacker from Glasgow, who in 2002 was accused of perpetrating the "biggest military computer hack of all time", and Laurie Love , from Suffolk, who was arrested in 2013 after being accused of stealing data from US agencies including the FBI, the Federal Reserve and Nasa, both avoided being extradited, the latter after a High Court appeal in 2018. Gary McKinnon | The hacker saved from extradition Mr Sheppard has been charged with conspiracy to commit wire fraud, conspiracy to commit money laundering, and the intentional access of a protected computer. Among the accounts hijacked last month included those of former US president Barack Obama, Microsoft founder Bill Gates, Amazon owner Jeff Bezos, rapper Kanye West and his wife, Kim Kardashian. The tweets offered to send $2,000 (£1,500) for every $1,000 (£750) sent to an anonymous Bitcoin address. One tweet from Bill Gates account read: "Everyone is asking me to give back. You send $1,000, I send you back $2,000. Another from Kim Kardashian said: "Feeling nice! All BTC sent to me will be sent back doubled, enjoy. Marcus Hutchins, the British computer researcher renowned for temporarily stopping the WannaCry ransomware attack, yesterday said it doesn't take a "super genius" to hack major firms. Story continues He said: Hacking corporations is a lot less difficult than you think." The NCA confirmed on Friday it had supported the US investigation and searched a property in West Sussex with officers from SEROCU, a collaboration between the Police Forces of Hampshire, Surrey, Sussex and Thames which focuses on organised crime in the south east. Government-backed hacking attacks during coronavirus It is understood that the UK has not arrested the teenager. A Government source said there was "always the possibility" the US could put in an extradition request, but would not confirm if one had been made. However Professor Alan Woodward, a cyber-security expert at Surrey University, said that if he were Mr Sheppard he "would be slightly worried. The Americans will issue a legal assistance warrant, he said. In this case, they did actually not just break in, but they then tried to use it for a criminal scam. They walked away with thousands of pounds. So you know, this, they were not trivial sums of money. I suspect that the British law enforcement agencies will not have a great deal of sympathy with them. According to neighbours, Mr Sheppard - who attended a local state comprehensive school - is a nice lad whose father, Mark, passed away around five years ago. They added that his mother, Lorraine, had been bringing him up since her husband died. A woman in her sixties, who lives in the same road, said: I know Lorraine and shes lovely. Ive not seen Mason in years but he was always a very nice lad. This is a real shock. No one around here has seen any police activity or anything. David Anderson, the US Attorney for the Northern District of California said Mr Sheppard "faces a statutory maximum penalty of 45 years of imprisonment" if convicted. The three charges were filed against him in the Northern District of California, which is where Twitter is located. Tweets were simultaneously posted promoting a Bitcoin scam, promising followers they would receive double the amount of money back if they transferred funds to a digital wallet. According to court documents filed on July 23 and made public on Friday, approximately 415 transfers were made to the Bitcoin address totalling more than 117,000 US dollars - equivalent to approximately £90,000. Nima Fazeli, 22, of Orlando, Florida, was charged with aiding and abetting the intentional access of a protected computer. The Department of Justice said charges had also been filed against a juvenile. Graham Ivan Clark, 17, was arrested in Tampa, Florida, on Friday according to the Hillsborough State Attorney's Office. It added that Mr Clark will be prosecuted as an adult and is allegedly the "mastermind" behind the hack. Mr Anderson said: "There is a false belief within the criminal hacker community that attacks like the Twitter hack can be perpetrated anonymously and without consequence. "Today's charging announcement demonstrates that the elation of nefarious hacking into a secure environment for fun or profit will be short-lived. "Criminal conduct over the Internet may feel stealthy to the people who perpetrate it, but there is nothing stealthy about it. "In particular, I want to say to would-be offenders, break the law, and we will find you." A Home Office spokesperson said: As a matter of long-standing policy and practice, we neither confirm nor deny the existence of extradition requests. || Honeygain App Popularity Skyrockets As Users Earn For Sharing Internet Connections: The five months in which Covid-19 has spread throughout America have led to more job loss than any point in American history. And though the labor market has shown signs of recovery, there remains no clear end to job losses in sight.
The gloomy economic outlook for the foreseeable future is forcing people globally to revaluate their approach to personal finances. In particular, it is evident that setting uppassive incomestreams is becoming essential to meet ends.
However, finding a legitimate passive income stream is no easy task. Unfortunately, a lot of companies either overpromise, underdeliver, or imitate reputable businesses while secretly taking advantage of their users in one way or another.
With all of this in mind, passive income platform Honeygain has vowed to stand out and ensure transparent and fair business practices and has gained the trust of millions of people in the process.
The Best Passive Income Stream Of 2020?
Honeygainsuccessfully launched in 2018, enabling businesses and people to serve each other through a residential proxy network. In other words, people are passively earning money by safely sharing their internet connection with companies that require residential proxy networks to support their business operations.
It was clear from the start that for this business idea to flourish, gaining people’s trust was essential. That’s why the platform is built with a focus on the experience of the end-user. The company is solidly established on four following core values:
User Education
Honeygain places education as a key element in achieving real transparency with its user base. The technical and business nuances are explained clearly, educating people on the benefits of shared internet traffic. The team behind the app openly communicates on each business case and willingly sheds light on how to maximize earnings via the platform.
User Protection
The app only collects data that is necessary for the system to function without asking for any excessive permissions. This data includes network information, device-specific data, and the user’s email address to process the payments.
The company also employs an intricate Know-Your-Client (KYC) process, thanks to which only carefully vetted business partners are allowed access to the Honeygain network.
User Empowerment
Inclusivity and empowerment are two more factors that drive Honeygain. The company strives to become a go-to source of passive income to everyone around the globe, regardless of their economic well-being.
Technical Excellence
The Honeygain developer team’s work culture is to always critically revaluate utilized technologies. Coders and engineers continuously look for ways to improve and innovate components of the platform’s technical infrastructure, ensuring a smooth service for all parties involved.
According to arecent surveyof nearly 16,000 users, 82.8% of people would recommend the platform to a friend or a colleague. Around 90% of respondents also said they return to the app daily, with 73.1% checking it multiple times per day.
Most importantly, these results ensure that the platform successfully fulfills the role of an educator, shedding light on the commonly misunderstood proxy market. In fact, over 70% of people confirmed that they had learned more about the proxy services since joining the ever-growing Honeygain community.
With the world economy taking a hit, platforms like Honeygain have emerged as a powerful tool to empower people during financially unstable times, at the same time enabling businesses to create value in their respective industries.
For Honeygain, a positive contribution to the economy will continue to be based on long-term commitments and a clear value system striving towards a more transparent passive income and residential proxy markets.
Disclaimer: This post was submitted by a guest. The writer does not hold a relationship or any vested interest in Honeygain.
Photo byGlenn Carstens-PetersonUnsplash
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© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Market Wrap: Bitcoin Hits $10.9K; Total BTC Locked in DeFi Passes 100K: Bitcoin is making gains not seen since early September; the amount of BTC locked in DeFi hits six figures. Bitcoin (BTC) trading around $10,778 as of 20:00 UTC (4 p.m. EDT). Gaining 0.70% over the previous 24 hours. Bitcoin’s 24-hour range: $10,252-$10,950 BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin was able to reach as high as $10,950 on spot exchanges such as Coinbase Tuesday before losing some steam, settling around $10,778 as of press time. Read More: Two Charged With Duping Investors of $5M With Bogus Bitcoin Brokerage Related: Bakkt Bitcoin Futures Daily Trading Volume Hits Record High “BTC is making a strong attempt to break out of the recent $10,100 to $10,500 range,” said David Lifchitz, chief investment officer of quant firm ExoAlpha. “We’re just above $10,600 and testing $10,600-$10,800 long enough would position the next target to $11,000.” Lifchitz cited factors other than just price as reasons to be optimistic about the world’s oldest cryptocurrency. “From a fundamental point of view, bitcoin mining hashrate is hitting all-time highs,” Lifchitz added. Indeed, the daily average hashrate on the Bitcoin network reached a records 151 million terahashes per second on Monday. The rise in hashrate means the next difficulty adjustment, scheduled for Sept. 19, will also likely set a record high. “Difficulty is looking to adjust upwards later this week to its highest ever,” added Lifchitz. Read More: US State Bank Regulators Agree to Rules for Fintech, Crypto Licensing Related: First Mover: Binance's CZ Doesn't Even Dispute That DeFi Might Be Inevitable Denis Vinokourov, head of research for brokerage Bequant, also sees other fundamental trends fueling bitcoin’s bullish run. “The reports that MicroStrategy has completed yet another acquisition of 16,796 bitcoins at an aggregate purchase price of $175 million, together with a new wave of money flowing into DeFi as indicated by the total value locked, are all proving to be very supportive for the sentiment,” he said. Story continues Read More: MicroStrategy Buys $175M More in Bitcoin, Upping BTC Holdings to $425M Guy Hirsch, U.S. managing director for multi-asset brokerage eToro, noted the amount of bitcoin inactive for at least three years is now over 31%, its highest point since late 2017. Hirsch attributes some of this bitcoin activity coming from decentralized finance, or DeFi, which can require movement of BTC on-chain. ”We have witnessed more capital going into DeFi projects despite some of them experiencing major issues, and also an increase in bitcoin locked on DeFi,” Hirsch told CoinDesk. “These developments suggest that there has been an increase in HODLing as people and institutions show an increasing willingness to allocate to crypto assets.” Read More: Japanese Crypto Exchange Accuses Binance of Helping Launder $9M 100K BTC locked in DeFi The amount of bitcoin “locked,” or deployed, in DeFi has crossed the 100,000 mark for the first time, currently at 101,719 BTC, according to aggregator DeFi Pulse. The total is rebounding towards $10 billion in total value, helped by bitcoin’s continued upward trend in total value locked. “The massive and quick growth of the lock-in cannot be denied. It’s kind of mind-blowing,” said Henrik Kugelberg, a Sweden-based bitcoin over-the-counter trader. Kugelberg expects a lot more BTC on DeFi in the future. “While 100,000 BTC is a lot of money it is actually a small part of mined BTC locked in DeFi. I believe the floodgates have opened but it’s still just a stream of bitcoin flowing in. ” Read More: DeFi Lender bZx Reclaims $8M Stolen in Sunday’s Attack Other markets The second-largest cryptocurrency by market capitalization, ether (ETH), was down Tuesday, trading around $365 and slipping 2.9% in 24 hours as of 20:00 UTC (4:00 p.m. ET). Read More: Galaxy Digital Leads $1.2M Raise for Automated Ethereum Services Startup Digital assets on the CoinDesk 20 are mostly in the red Tuesday. Notable winners as of 20:00 UTC (4:00 p.m. ET): ethereum classic (ETC) + 6.2% bitcoin cash (BCH) + 3.9% monero (XMR) + 0.50% Read More: SKALE Completes $5M Token Sale on ConsenSys’ Anti-Speculation Platform Notable losers as of 20:00 UTC (4:00 p.m. ET): lisk (LSK) – 7.6% qtum (QTUM) – 7% tron (TRX) – 6.5% Read More: Filecoin: Understanding the Complex Crypto System Meant to Rival AWS Equities: In Asia, the Nikkei 225 closed down 0.44% despite indicators pointing to an economic rebound in the region’s largest economy, China . In Europe, the FTSE 100 ended the day up 1.32% as China beat expectations on retail and manufacturing numbers . In the United States, the S&P 500 climbed 0.40% as moderate gains were made in the tech, materials, industrials and energy sectors . Read More: New York Attorney General to Bitfinex and Tether: ‘Delays Must Stop’ Commodities: Oil is up 2.5%. Price per barrel of West Texas Intermediate crude: $38.25. Gold was in the red 0.21% and at $1,953 as of press time. Read More: Paxful, Citing Its Own ‘Risk Tolerance,’ Exits Venezuela’s P2P Bitcoin Market Treasurys: U.S. Treasury bond yields climbed Tuesday. Yields, which move in the opposite direction as price, were up most on the 30-year bond, in the green 1%. Read More: Thai Central Bank’s Blockchain-Enabled Bond Infrastructure Passes Test Related Stories Market Wrap: Bitcoin Hits $10.9K; Total BTC Locked in DeFi Passes 100K Market Wrap: Bitcoin Hits $10.9K; Total BTC Locked in DeFi Passes 100K || ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / September 15, 2020 /ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD).
Real-Time Market Data is available atwww.alt5pro.comand Real-Time Market Data feed is also available atwww.alt5sigma.com.ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH
About ALT 5 Sigma Inc.
ALT 5 is a 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. [email protected]
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/606249/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || The Next Big Trend Investors Will Miss: Investors are always looking for the next big thing. When they find it, the opportunity can pay out fast or it can take a couple of years to develop. The trades that work out over the longer-term are usually referred to as a “market trend.”You might be shocked to find out that you missed one of the biggest hidden trends over the last year. I’m not talking about Apple, Tesla, or even Bitcoin. While those are all very well-known outperformers, what I’m bringing you today was a big secret up until recently. This hidden treasure resides in the commodity asset class, in a segment that you might not have known existed.While most have invested in commodities via gold or oil ETFs, it’s likely they were not involved in this hot trade.What am I talking about?Silver!Let’s talk numbersWhen everyone else panicked, investors that bought silver over the last few months were rewarded. In the middle of March, when the virus fears were at their highest, silver was trading at $11.64 an ounce. As of last week, silver was trading at $27, that’s a gain of 138% in just under six months.The silver move started after markets rallied and global central banks began easing money policies. Gold and silver have been great places to hide from potential fiat currency risk, but silver has seen the most extreme move for any metal this year.How could an average investor have gotten in?For big traders and investors, the silver futures contract was the way to get exposure. But for average retail investors, they don’t have access to the futures markets as they do to stocks and EFTs.Luckily for those that saw the silver move coming, there were a handful of ways to get exposure:SLV- The biggest silver ETF is the iShares Silver Trust. The ETF was trading under $11 at its lows and now trades around the $25 level.AGQ- The ProShares Ultra Silver ETF gives investors leveraged exposure to daily silver moves. This instrument is designed to double the move of silver every day. AGQ bottomed under $13 earlier this year and now traded over $60, for a move of over 350%.SIL- Another way to play was to buy the companies that pull silver out of the ground. This silver miner ETF pools the miner stocks into its product and has seen a move of over 200% since March.Continued . . .------------------------------------------------------------------------------------------------------Notice to Zacks MembersInvestors make big money on commodities – why not you? When the time was right, George Soros won a billion dollar bet against the British pound. John Arnold raked in billions on natural gas. Louis Bacon cashed in big on oil by predicting the Gulf War.Today you don’t have to be a billionaire speculator in futures or options to catch timely, skyrocketing moves.This Zacks investment strategy uses only easy-to-trade stocks and ETFs to target essential products like gold, gas, grains, currencies, energy, coffee, and more. Though the battle with the coronavirus rages on, enormous pent-up consumer demand will soon be unleashed. Then add a wave of momentum from new trade deals to the mix. We expect short-term jumps of +20% to +40% and long-term booms reaching +100%, +200%, and beyond.See Our Latest Buys Now >>------------------------------------------------------------------------------------------------------The gold and silver story still has legs!Most of the fun to be had in metals has passed. The trade now seems exhausted. However, there might be some more meat on the bone as traders scramble to cover short positions, forcing a short squeeze even higher. Additionally, if more stimulus comes from governments and central banks to assist with the COVID lockdowns, we could see more buying interest.While you might have missed the big move, make sure you don’t miss the next commodity opportunity.What’s the next big trend?Recently, commodity markets have started to grind higher as economies begin to reopen. Demand is finally coming back, which is excellent for prices. Additionally, the stocks that are associated with commodities are beginning to see some strength.I see a similar move to silver forming for another commodity, one that could be a top performer as we close out the year. This story is more of a supply/demand issue in a commodity that has severely underperformed for the last two yearsIf we get a vaccine and the economic environment normalizes, I expect bullish trends in commodities to accelerate even more. We have already seen the strength in certain commodity markets as China came back online.The segment I have identified is still on sale right now! And when the trend resumes, we could see the same kind of results in 2021 that silver showed investors this year.Don't miss the next oneTo make sure you are informed of lucrative commodity developments, you're invited to take part in the new portfolio service I'm directing,Zacks Commodity Innovators.This coming Monday, I will identify my #1 trend and exactly how to play it. This will allow investors to enter a market with substantial growth potential that most aren't even aware of.No need to get involved with futures contracts or complicated option moves.Commodity Innovatorswill only recommend easy-to-trade stocks and ETFs.In fact, Monday morning I plan to post one ETF and one stock that will give us a head start over other investors in the hottest, yet still little-known commodity trend of 2020-21.In this, our newest portfolio, we will continue to capitalize both on breaking news and on developing long-term trends. We will minimize our risk without being exposed to the futures market, while keeping the same potential rewards. With the Zacks Rank working for us, there will be a plethora of strong ETFs and stocks to choose from that will allow us to capture profit potential.We aim for short-term jumps of +20-40% and also ride trends that could carry us for months and years to gains of +100% and more.Important: Please note that the number of investors who view these moves will be restricted and the deadline to gain access is coming up fast. The portfolio closes to entrySunday, August 16th.Make sure you don't miss the opportunity to ride the hottest commodity trend of 2020-21.Be sure to look intoZacks Commodity Innovatorsright now >>Good Investing,JeremyJeremy Mullin is a technical expert with 15 years’ experience pinpointing the best times to buy and sell commodities. He is the editor of Zacks’ new portfolio,Commodity Innovators.
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 reportTo read this article on Zacks.com click here.Zacks Investment Research || 3 Reasons Bitcoin’s Price Could Soon Rise to $10K: Bitcoin jumped above $9,500 on Wednesday, ending a four-week-long low-volatility squeeze.
Now the cryptocurrency looks set to climb toward the psychological hurdle of $10,000, as suggested by several factors.
• Bitcoin’s high of $9,551 on Wednesday was its highest level since June 24, according to CoinDesk’sBitcoin Price Index.
• The gain has confirmed a Bollinger band breakout on the daily chart and opened the doors for a move of $400 or more on the higher side,as noted by Adrian Zdunczyk, CEO of trading community The BIRB Nest in a blog post.
• Bollinger bands are volatility indicators placed two standard deviations above and below the 20-day moving average.
• They had recently narrowed to levels last seen in November 2018 as the cryptocurrency traded in the very restricted range of $9,000–$9,400.
• A big move often follows a period of very low volatility.
• Open interest or open positions in bitcoin futures listed on the Chicago Mercantile Exchange (CME) – considered synonymous with institutional interest – jumped 15% to a one-month high of $452 million on Wednesday.
• The metric has risen by 24% over the past three days alongside bitcoin’s uptick from $9,120 to $9,550, according to data sourceSkew.
• Global open interest (as gauged by data from 12 major crypto derivatives exchanges) has risen above $4 billion for the first time since early March.
• A price rally is said to have legs if it is accompanied by an uptick in open interest.
• The “risk-on” mood in the traditional markets further supports stronger gains for the leading cryptocurrency.
• Global stock markets are trading at five-month highs while the U.S. dollar, a safe haven in times of crisis, is languishing near March lows, according toInvesting.com.
• The EU’sfiscal stimulus dealand market expectations of anadditionalU.S. coronavirus stimulus package are pushing stocks higher.
• Bitcoin hasrecently developeda stronger positive correlation with the equity markets.
• It’s worth noting thatescalatingChina-U.S. tensions pose a risk to the equity market rally and possibly bitcoin prices.
Disclosure:The author holds no cryptocurrency at the time of writing.
• 3 Reasons Bitcoin’s Price Could Soon Rise to $10K
• 3 Reasons Bitcoin’s Price Could Soon Rise to $10K
• 3 Reasons Bitcoin’s Price Could Soon Rise to $10K
• 3 Reasons Bitcoin’s Price Could Soon Rise to $10K
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 10948.99, 10944.59, 11094.35, 10938.27, 10462.26, 10538.46, 10246.19, 10760.07, 10692.72, 10750.72
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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 2020-07-09]
BTC Price: 9277.97, BTC RSI: 49.69
Gold Price: 1799.20, Gold RSI: 61.89
Oil Price: 39.62, Oil RSI: 57.07
[Random Sample of News (last 60 days)]
Bitcoins mining difficulty just had its biggest increase since early 2018: Bitcoin's mining difficulty a metric for the ease by which miners can create new transaction blocks on the network increased by nearly 15% on Tuesday. The jump represents the biggest upwards move of its kind since January 2018. The change happened on block height 635,040, with the network adjusting its difficulty level to 15.78 trillion, according to data from BTC.com. Tuesday's upwards difficulty change comes two months after one of Bitcoin's largest difficulty drops in its history. On March 26, the network difficulty adjusted downwards by nearly 16%. © 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. View comments || US Stock Market Overview – Stock Whipsaw and Close Higher Despite Elevated Jobless Claims: US stock prices whipsawed initially moving lower and then rebounding higher to close the session in the black. This comes despite a larger than expected increase in jobless claims. Despite a rally in the larger indices, the Russel lagged falling more than 1%. Mastercard reported on Thursday that the company was seeing continued improvement in consumer spending in the first two weeks of May. Most sectors in the S&P 500 were higher led by a surge in financials, consumer staples bucked the trend. The VIX volatility index surged higher during AM trade, hitting 40%, but eased as the market rallied during the PM trading session. Oil prices rallied on Thursday following an announcement from the US government that they would begin to buy 1-million barrels of crude oil per day for the Strategic Petroleum Reserve. Gold prices broke out on Thursday helping to buoy the miners. US Initial Jobless Claims Rise US initial jobless claims rose just shy of 3 million according to the Labor Department. Claims totaled 2.981 million pushing the total since the shelter in place orders to nearly 36.5 million, by far the biggest loss in U.S. history. Expectations were for a 2.7 million rise in new claims. With 36.5 million people out of work, on a workforce of 160 million people puts the unemployment rate near 23%. Import Prices US import prices declined to a 5-year low in April, according to the Labor Department. The BLS reported that import prices dropped 2.6%, the largest decline since January 2015, after a revised 2.4% decline in March. Import prices, which exclude tariffs, decreased 2.3% in March. Expectations were for import prices to decline by 3.1% in April. On a year over year basis, April, import prices tumbled 6.8%. That was the largest decrease since December 2015. This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Price Forecast – Euro Testing Support Has the Stock Downswing Started in Earnest? Silver Price Daily Forecast – Silver Stays Glued To The $15.50 Level US Open – Waking From a Stimulus Induced Dream – Oil, Gold and BTC in Focus USD/JPY Price Forecast – US Dollar Finding Support Against Japanese Yen Silver Price Forecast – Silver Markets Reach Top of Range || US/China Conflict – Gold, Oil and Bitcoin in Focus: The soft reopening so far appears to be going well and is leading to further easing measures, including the prospect of travel again before the summer is over which is coming as a huge relief to those in the industry that have been ravaged by the crisis.
The stock market recovery appeared to stall in May but it seems to have found some momentum once again, with the news of human vaccine trials naturally aiding the move. While the data we’re seeing so far is encouraging, there may be diminishing returns so the longer we go without a vaccine or cure, the worse the data could become. Thankfully, what we’re seeing in both of these cases gives us cause for optimism.
Tensions between the US and China are hotting up and Hong Kong is proving to be an interesting battle ground. The US is now believed to be pondering sanctions, as China prepares to vote on a controversial new national security law to be imposed on Hong Kong. As yet, the strained relationship between the US and China hasn’t hampered markets too much but that could quickly change.
Oilis slightly paring gains today but continues to make impressive gains more broadly. Naturally, reports of economies successfully easing restrictions is providing a significant boost to oil prices, with the reopening of borders in the coming weeks only further supporting demand and therefore prices.
While the reopening will be gradual and people will take time to emerge from the safe shelter of their homes, particularly when it comes to foreign travel, these are hugely positive moves for oil producers as prices close in on $40. It’s now a question of when they’ll turn on the taps again and how much they choose to or even how fast they’ll be able to.
Goldis edging lower again today and closing in on$1,700. The yellow metal seemed to lose all momentum not long after eventually breaking through $1,750 resistance. A break back below $1,700 would be troubling for gold, from a psychological perspective, but the $1,660-1,680 region is far more key. A break of this would spell trouble for gold.
Bitcoin found some support around $8,500 this morning and has reversed course to test $9,000, around where it is already starting to struggle. It’s not looking great for the cryptocurrency, with $8,000 being the next major level below. A break of this and it will be like the halving event never happened and all the gains that came its way during that high exposure period will have been lost. Nervy times.
For a look at all of today’s economic events, check out ourEconomic Calendar.
Craig Erlam, Senior Currency Analyst at OANDA
Thisarticlewas originally posted on FX Empire
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• GBP/USD Price Forecast – Pound Rolls Over After Brexit Comments || The Crypto Daily – Movers and Shakers – June 28th, 2020: Bitcoin fell by 1.72% on Saturday. Following on from a 0.91% decline on Friday, Bitcoin ended the day at $9,015.3. It was a mixed start to the day for Bitcoin. In the early hours, Bitcoin dipped to a low $9,120.0 before rising to a mid-morning intraday high $9,202.5. Falling short of the first major resistance level at $9,296.7, Bitcoin tumbled to a late intraday low $8,855.0. The sell-off saw Bitcoin fall through the first major support level at $9,051.8 and second major support level at $8,930.5. Finding late support, Bitcoin moved back through the second major support level to wrap up the day at $9,000 levels. The 23.6% FIB of $8,900 had limited the downside on the day. The near-term bullish trend remained intact in spite of the recent pullback to sub-$9,000 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 also a bearish day on Saturday. Bitcoin Cash SV (-8.25%), EOS (-6.01%), and Tezos (-6.81%) led the way down. Binance Coin (-4.00%), Bitcoin Cash ABC (-5.85%), Litecoin (-4.67%), Ripple’s XRP (-4.14%), and Stellar’s Lumen (-5.73%) also saw deep red. Cardano’s ADA (-3.86%), Ethereum (-3.79%), Monero’s XMR (-3.59%), and Tron’s TRX (-1.97%) saw relatively modest losses on the day. Through the current week, the crypto total market cap rose to a Monday high $272.54bn before falling to a Saturday low $245.07bn. At the time of writing, the total market cap stood at $248.82bn. Bitcoin’s dominance slid to a Wednesday low 65.52% before jumping to a Saturday high 66.68%. At the time of writing, Bitcoin’s dominance stood at 66.30%. This Morning At the time of writing, Bitcoin was down by 0.42% to $8,977.0. A bearish start to the day saw Bitcoin fall from an early morning high $9,016.0 to a low $8,970.2. Bitcoin left the major support and resistance levels untested early on. Story continues Elsewhere, it was also a bearish start to the day for the broader market. Bitcoin Cash SV (-1.02%), Stellar’s Lumen (-1.66%), Tezos (-1.03%), and Tron’s TRX (-1.18%) led the way down early on. For the Bitcoin Day Ahead Bitcoin would move through the $9,025 pivot to support a run at the first major resistance level at $9,193.53. Support from the broader market would be needed, however, for Bitcoin to break out from $9,100 levels. Barring an extended crypto rebound, the first major resistance level and Saturday’s high $9,202.5 would likely cap any upside. In the event of a crypto breakout, Bitcoin could test the second major resistance level at $9,371.77. Failure to move through the $9,025 pivot level could see Bitcoin struggle later in the day. A fall back through the 23.6% FIB of $8,900 would bring the first major support level at $8,846.03 into play. In the event of another extended crypto sell-off, the second major support level at $8,676.77 may be tested. This article was originally posted on FX Empire More From FXEMPIRE: Unilever Latest Advertiser to Jump Ship on Facebook, Twitter Amid ‘Polarized Atmosphere’ in US European Equities: A Week in Review – 27/06/20 EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – June 27th, 2020 Crude Oil Price Update – Closed in Position to Challenge Major 50% Level Support at $37.50 Natural Gas Price Prediction – Prices Slip but are Poised to Test Lower Levels US Stock Market Overview – Stocks Drop Led by Financials Following Fed Stress Test || The Big Short #2 – World Pushes Credit/Investments Into Risk Again, Part I: One thing is very certain right now – we live in very interesting times. As the world rushes head-first into the 21stCentury, it appears one of the most pressing issues before all of us is to navigate the risks and opportunities that continue to stack up ahead of us. Within the first 20 years of this century, the global markets have experienced many shifts and big price rotations. Emerging markets, Oil, Technology, Bio-Tech, Miners, Metals, Currencies, Cryptos – we can look at all of these on a longer-term basis and see a boom cycle and a moderate bust cycle event.
The current trends suggest global investors are pouring capital into the US technology stocks which is what is driving the NASDAQ to new all-time highs. We published this article in late June suggesting a parabolic top pattern may be setting up in the global markets – which may be very similar to theDOT COM peak in 1999~2000 explained here.
Our researchers believe the global shift away from risk and into hot sectors are driving capital investments into a frenzy right now. It reminds us of the frenzy in the US in the late 1990s when housing, technology stocks, and credit expansion rolled into a frothing expansion phase – then burst suddenly in 1999. There were plenty of signs in 1997 and 1998 that the frenzy buying was a huge risk – but traders and consumers simply ignored the risks and kept buying.
Similarly, this same type of bubble mentality happened in 2017 withBitcoin. In less than 24 months, Bitcoin rallied from $370 in early 2016 to $19,666 near the end of 2017 – a massive 8000%+ rally.
The similarities of the Bitcoin rally and the rally of theUS stock marketin the late 1990s is the mentality of the investors throughout these bubbles – the “no fear” mentality that it will keep going higher and higher. The same type of mentality appears to be happening in the US stock markets right now and the data suggests something vastly different is really taking place.
Unlike what happened throughout recent history, the globe has recently experienced a massive disruption event – the COVID-19 virus. This disruption has displaced economic output and consumer earnings on a massive scale – and we are just starting to learn how disruptive these economic factors may be.
One item we believe is severely under-estimated is “consumer earning capabilities”. Thenumber of joblessin America has risen to well over 35 million (over 10% of the population). If the COVID-19 virus continues to disrupt consumer’s ability to earn income and engage in the economy over the next 6+ months or longer, there is a very real possibility that the V-shaped recovery everyone believes is happening will simply not happen at all.
One of the most ominous signs of a broader consumer and commercial contraction happening in the US markets is the skyrocketing delinquency rates for commercial real estate. Trepp recently published new data suggesting the commercial real estate market is experiencing a massive increase in delinquencies of 30+ days which may lead to a wave of high-value defaults. Other research suggests US Banks may face $48+ Billion in commercial real estate loan losses.
The Q2:2020 earning estimates have decreased by such a large amount that all investors should prepare for a shocking series of data over the next 30+ days. Nike surprised everyone with a nearly $800 million loss for their Q4 ending May 31, 2020. We just read that PizzaHut parent, NPC, filed for bankruptcy recently. Thisrecent Bloomberg articlesuggests a massive wave of US corporate bankruptcies could continue throughout 2020 and well into 2021 and extended economic pressures erode the foundations and operations of hundreds or thousands of US businesses ().
What is happening in the US markets right now is that foreign and US investors are piling into this deep price rotation expecting the US Fed to do whatever is necessary to support the markets throughout the COVID-19 virus event. We believe the risks for investors have never been higher as the global markets teeter on the edge of a partial recovery while the COVID-19 virus surges again throughout the US.
We’ve kept our clients actively protected from the risks within the markets and continue to advise them on how to identify profitable trades within the current market trends.
In the next part of this article, we’ll explore more data facets related to the Q2:2020 and the future expectations of the US and global markets. Our biggest concern is the destructive capabilities of the general consumer. At some point, we have to understand the consumer drives 85% of the US GDP and future expectations. If this event destroys the consumer, then it will destroy future expectations.
Keep in mind, we do not trade or invest on fundamentals or economic cycles because we know they can lead or lag stock prices by several months at times. Our focus as technical traders is to follow the price trend and trade accordingly. Stay tuned for part II.
Get ourActive ETF Swing Trade Signalsor if you have any type of retirement account and are looking for signals when to own equities, bonds, or cash, be sure to become a member of myPassive Long-Term ETF Investing Signalswhich we are about to issue a new signal for subscribers.
For a look at all of today’s economic events, check out oureconomic calendar.
Chris VermeulenChief Market StrategiesFounder of Technical Traders Ltd.
NOTICE: Our free research does not constitute a trade recommendation or solicitation for our readers to take any action regarding this research. It is provided for educational purposes only. Our research team produces these research articles to share information with our followers/readers in an effort to try to keep you well informed.
Thisarticlewas originally posted on FX Empire
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• The Big Short #2 – World Pushes Credit/Investments Into Risk Again, Part I || ‘Blockchain’ and ‘cryptocurrency’ dominate active trademarks in U.S. government database: The most popular blockchain-related terms across all active trademarks in the U.S. are “Blockchain” and “Cryptocurrency,” according to The Block’s recent research findings.
The total number of “Blockchain” and “Cryptocurrency” mentions within live trademark — referring to active ones that have not been abandoned — were 2646 and 2382, respectively.
“Bitcoin,” “Initial Coin Offering,” and “Ethereum” all fall below 500 mentions each as analyzed in the chart above by The Block’s Steven Zheng.
The figures are based on a database from the Trademark Electronic Search System (TESS) created by the United States Patent and Trademark Office (USPTO). The USPTO database allows viewers to search for all current and previously registered trademarks within its platform.
To read the fullJune 2020 reportand more such data-driven stories, subscribe toThe Block Research.
© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. || U.S. Global Investors Reports Financial Results for the Third Quarter of 2020 Fiscal Year, with Updates on Airline ETF, Gold & Precious Metal ETF and Investment in Blockchain Crypto Mining: San Antonio, May 14, 2020 (GLOBE NEWSWIRE) -- U.S. Global Investors, Inc. (NASDAQ: GROW ) (the Company), a boutique registered investment advisory firm with longstanding experience in global markets and specialized sectors, today reported a net loss of $1.6 million, or a $0.11 per share loss, for the quarter ended March 31, 2020. Thats compared to net income of $779,000, or $0.05 per share, for the same three-month period a year earlier. The change is primarily due to unrealized investment losses in the current quarter compared to unrealized investment gains in the same quarter last year. Operating loss from continuing operations for the quarter ended March 31, 2020, was $979,000, compared to a loss of $672,000 for the quarter ended March 31, 2019, an additional loss of $307,000. Total consolidated operating revenues for the quarter ended March 31, 2020, increased $57,000, or 7 percent, compared with the quarter ended March 31, 2019, due to higher average assets under management (AUM) in the ETFs and lower performance fees paid out. Total consolidated operating expenses for the current quarter increased $364,000, or 24 percent, compared with the same quarter in the prior year, primarily due to an increase in business development costs related to the increase in ETF assets during the current quarter. Investment loss was $441,000 for the three months ended March 31, 2020, compared to investment income of $2.1 million for the three months ended March 31, 2019, a negative change of approximately $2.5 million. The negative change is primarily due to less unrealized gains on fair valued securities, primarily in HIVE Blockchain Technologies (HIVE), the Companys primary strategy for exposure to cryptocurrencies and blockchain. The HIVE investment was valued at approximately $1.3 million at March 31, 2020, and had a cost of $2.4 million. There has been significant volatility in the market price of HIVE, which has materially impacted the investments value included on the balance sheet and unrealized gain (loss) recognized in investment income quarterly. Story continues Total AUM of continuing operations as of period-end at March 31, 2020 were $665.1 million compared to $510.1 million at June 30, 2019, the Companys prior fiscal year end, an increase of $155.0 million, or 30 percent. The increase in AUM is due to an increase in assets in the U.S. Global Jets ETF (JETS) (ticker JETS) that accelerated in the latter part of March 2020. Economic and Financial Impact of COVID-19 During the quarter ended March 31, 2020, the rapid spread of the global COVID-19 outbreak and actions taken in response had a significant detrimental effect on the global and domestic economies and financial markets. Market declines affect the Companys AUM and thus revenue and also the valuation of the Companys corporate investments. It is early to determine the long-term impact of current circumstances on the Companys business. On behalf of everyone at U.S. Global Investors, I want to extend my deepest sympathy to all those who have been impacted by the novel coronavirus, says Frank Holmes, CEO and chief investment officer. I am especially grateful for the hundreds of thousands of physicians, nurses and other health care workers who are on the frontlines battling this pandemic. They are the true heroes of this crisis. Record Inflows into the Companys Airline ETF JETS had its best quarter ever in its five-year history, with its net assets increasing more than $250 million between the beginning of the year and March 31, 2020. As of the end of the first quarter, total AUM in the smart-beta ETF stood at $302 million, more than four times the amount as the same time a year earlier. Average weekly trading volume for JETS was 3.6 million shares during the quarter ended March 31, compared to only 164,300 shares during the same three-month period in 2019. We couldnt be more thrilled with how JETS has done this past quarter, and were pleased that investors see the incredible value in airlines as an asset class, comments Mr. Holmes. As most equity share prices have dropped during the impact of the coronavirus, deep-value investors and hedge funds have sought discounted exposure to airlines, an industry that most consider essential in todays interconnected world. Some 2 million passengers flew every day in and out of U.S. airports in 2019, according to the Federal Aviation Administration (FAA). The industry also employed approximately 10 million U.S. workers, either directly or indirectly. Politicians know that the airline industry is critical in turning around the U.S. economy. Thats why, on March 27, Congress approved and President Donald Trump signed into law a $2.2 trillion stimulus package with $58 billion in earmarked liquidity for coronavirus-hit domestic airlines. The industry has historically been affected by external events like oil crises, terrorist attacks and currently the coronavirus, but we believe it will be among the first to rebound once the economy recovers following the COVID-19 crisis, Mr. Holmes continues. Theres already evidence that a recovery in bookings is underway. The Transportation Security Administration (TSA) has reported a big jump in the number of daily commercial air passengers. On May 8, the number of people the agency screened in the U.S. rose to 215,444, the highest level since March 26. Thats still 2.4 million below where we were a year earlier, but I see the increase as an encouraging sign. Unprecedented Fiscal and Monetary Stimulus Has Driven Up Demand for Gold Im also pleased with how well our U.S. Global GO GOLD and Precious Metal Miners ETF (GOAU) performed during the quarter, Mr. Holmes says. GOAUs average AUM for the quarter stood at $54.7 million, an impressive increase of 321 percent from the same three-month period in 2019. Demand for the yellow metal has seen a boost this year from unprecedented money-printing by global central banks and finance ministers to soften the blow of the coronavirus-triggered recession. In March, central banks in Group of Seven countries purchased some $1.4 trillion in financial assets , which is nearly five times the previous monthly record set in April 2009, when the world was dealing with what was then the worst crisis since the Great Depression. Meanwhile, world governments have unleashed a combined $8 trillion in fiscal stimulu s, with more on the way. Right now the U.S. is printing money on a scale weve never seen. As of mid-April, the amount of M2 money supplywhich includes cash and near money such as savings deposits, money market securities and mutual fundshas raced up 16 percent compared to the same time a year ago. All of this is constructive for the price of gold , which I believe is on a path to exceed its previous record of $1,900 an ounce. Analysts at Bank of America now see the precious metal touching $3,000 within the next 18 months. Were keeping our eyes on first-quarter earnings for gold mining stock in the coming days. Time will tell, but I expect to see that many generated healthy levels of free cash flow in the March quarter, which should help attract new GOAU investors who up until this point may have been sitting on the sidelines, Mr. Holmes adds. Update on HIVE Blockchain Technologies As explained above, HIVE is the primary strategy for exposure to cryptocurrencies and blockchain. It was the first publicly-listed company involved in the mining of virgin digital coins, including Ethereum. It now also mines Bitcoin, the biggest cryptocurrency by market cap, after HIVE made a strategic acquisition in March of a Bitcoin mining operation with access to 30 megawatts (MW) of green, low-cost power. Many investors have traded HIVE as a proxy for Ethereum, as the two assets are correlated. U.S. Global Investors Finalizes Its Sale of Galileo Global Equity Advisors Effective March 2, 2020, the Company sold its 65 percent interest in Galileo Global Equity Advisors Inc. (Galileo) back to Galileo. Proceeds of approximately $746,000 were received (the equivalent of $1.0 million Canadian on the closing date of sale), and a realized gain of approximately $151,000 was recorded. In addition, upon the sale of Galileo, $228,000 in foreign currency losses were released from other comprehensive income (loss) and recorded as realized foreign currency losses. Through the date of sale, Galileo was consolidated with the operations of the Company. Frank Holmes, CEO, and Lisa Callicotte, CFO, served as directors of Galileo through March 2, 2020. After the transaction, the Company has not and will not have continuing involvement with the operations of Galileo, except for an equity method investment in a fund managed by Galileo. Adequate Liquidity and Capital Resources As of March 31, 2020, the Company had net working capital of approximately $8.8 million. With approximately $2.1 million in cash and cash equivalents and $9.3 million in unrestricted securities at fair value, the Company has adequate liquidity to meet its current obligations. In April 2020, the Company was approved for a loan of approximately $442,000 under the Paycheck Protection Program (PPP) under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The Company has under 25 employees and is considered a small business. The interest rate on the loan is 1 percent fixed, and the maturity date is in April 2022. The receipt of these funds, and the potential forgiveness of the loan, is dependent on the Company having initially qualified for the loan and qualifying for the forgiveness of such loan based on future adherence to the forgiveness criteria. Except for the loan received in April 2020, the Company has no borrowings or long-term liabilities except for lease obligations. Share Repurchase Program The Company has a share repurchase program, approved by the Board of Directors, authorizing it to annually purchase up to $2.75 million of its outstanding common shares on the open market through December 31, 2020. For the three months ended March 31, 2020, the Company repurchased 69,420 class A shares using cash of $68,000. The plan may be suspended or discontinued at any time. GROW Continued Dividends The Company has continued to pay monthly dividends for more than 10 years. The Board of Directors has authorized a monthly dividend of $0.0025 per share through June 2020, at which time the Board of Directors will consider continuation of the dividend. The total amount of cash dividends expected to be paid to class A and class C shareholders from April to June 2020 is approximately $113,000. Earnings Webcast Information The Company has scheduled a webcast for 7:30 a.m. Central time on Friday, May 15, 2020, to discuss the Companys key financial results for the year. Frank Holmes will be accompanied on the webcast by Lisa Callicotte, chief financial officer, and Holly Schoenfeldt, marketing and public relations manager. Click here to register for the earnings webcast or visit www.usfunds.com for more information. Selected Financial Data (unaudited): (dollars in thousands, except per share data) Three months ended 3/31/2020 3/31/2019 Operating Revenues $914 $857 Operating Expenses 1,893 1,529 Operating Loss (979) (672) Total Other Income (Loss) (503) 2,110 Income (Loss) from Continuing Operations Before Income Taxes (1,482) 1,438 Income Tax Expense 75 546 Net Income (Loss) from Continuing Operations (1,557) 892 Loss from Discontinued Operations (85) (174) Net Income (Loss) (1,642) 718 Less: Net Loss Attributable to Non-Controlling Interest (30) (61) Net Income (Loss) Attributable to U.S. Global Investors, Inc. $(1,612) $779 Income (Loss) from continuing operations per share (basic and diluted) $(0.11) $0.06 Loss from discontinued operations per share (basic and diluted) - $(0.01) Net income (loss) per share (basic and diluted) $(0.11) $0.05 Avg. common shares outstanding (basic) 15,121,950 15,132,408 Avg. common shares outstanding (diluted) 15,121,950 15,132,408 Avg. assets under management from continuing operations (millions) $534.9 $517.3 #### About U.S. Global Investors, Inc. The story of U.S. Global Investors goes back more than 50 years when it began as an investment club. Today, U.S. Global Investors, Inc. (www.usfunds.com) is a registered investment adviser that focuses on niche markets around the world. Headquartered in San Antonio, Texas, the Company provides money management and other services to U.S. Global Investors Funds and U.S. Global ETFs. Forward-Looking Statements and Disclosure This news release and other statements by U.S. Global Investors may include certain forward-looking statements, including statements relating to revenues, expenses and expectations regarding market conditions. You can identify these forward-looking statements by the use of words such as outlook, believes, expects, potential, opportunity, seeks, anticipates or other comparable words. Such statements involve certain risks and uncertainties and should be read with corporate filings and other important information on the Companys website, www.usfunds.com, or the Securities and Exchange Commissions website at www.sec.gov. These filings, such as the Companys annual report and Form 10-Q, should be read in conjunction with the other cautionary statements that are included in this release. Future events could differ materially from those anticipated in such statements and there can be no assurance that such statements will prove accurate and actual results may vary. The Company undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise. Please consider carefully a funds investment objectives, risks, charges and expenses. For this and other important information, obtain a fund prospectus by visiting www.usfunds.com . Read it carefully before investing. Foreside Fund Services, LLC, Distributor. U.S. Global Investors is the investment adviser. JETS and GOAU are distributed by Quasar Distributors, LLC. U.S. Global Investors is the investment adviser to JETS and GOAU. M2 Money Supply is a broad measure of money supply that includes M1 in addition to all time-related deposits, savings deposits, and non-institutional money-market funds. Free cash flow (FCF) represents the cash a company generates after accounting for cash outflows to support operations and maintain its capital assets. Unlike earnings or net income, free cash flow is a measure of profitability that excludes the non-cash expenses of the income statement and includes spending on equipment and assets as well as changes in working capital from the balance sheet. Cryptocurrency markets and related stocks have been, and are expected to continue to be, volatile. Cryptocurrency mining is considered an early stage high-risk industry, and the nature of mining is expected to evolve. Frank Holmes serves on the board as non-executive chairman of HIVE and held shares and options at March 31, 2020. Effective August 31, 2018, Mr. Holmes was named Interim Executive Chairman of HIVE while a search for a new CEO is undertaken. Attachment number-of-air-passengers-screened-052020 Holly Schoenfeldt U.S. Global Investors 2103081268 [email protected] || Bitcoin Rally Falters as Stocks Drop Ahead of Trump’s China Speech: Bitcoin’s bulls are taking a breather amid jitters in the traditional markets over rising tensions between the U.S. and China.
The world’s biggest cryptocurrency is trading near $9,400 at press time, having posted an eight-day high of $9,620 on Thursday. Prices have gained 8% so far this week, according to CoinDesk’sBitcoin Price Index.
While bitcoin looks to be consolidating on recent gains, major European stock markets are flashing red for the first time this week. Leading the way lower is Germany’s DAX, down 1.5% on the day, followed by France’s CAC, which is reporting a 1% decline. Across the pond, futures tied to Wall Street’s equity index S&P 500 are down 0.5%, as perInvesting.com.
Related:Bug in ‘Timelocked’ Bitcoin Contracts Could Spur Miners to Steal From Each Other
Markets look to have become cautious ahead of President Trump’s response to China’s decision to implement a national security law in Hong Kong, putting the jurisdiction’s autonomy in doubt.
“We’ll be announcing what we’re doing tomorrow (Friday) with respect to China. And we are not happy with China. We are not happy with what’s happened,”Trump told reporterson Thursday. Trump warned earlier this week it wouldimpose sanctionson China if the law is introduced.
The expectation is Trump will announce some symbolic sanctions against individuals and companies. That said, with the presidential elections due in November, a bigger action cannot be ruled out. The resulting geopolitical tensions could bode well for bitcoin as many analysts and investors consider it a safe haven asset.
“I expect serious anti-Chinese rhetoric in the coming days/weeks/months as Trump tries to use nationalism/protectionism and anger towards China/COVID as a major catalyst for support,” Phillip Gillespie, CEO of B2C2 Japan, told CoinDesk in an email. “I am personally bullish [onbitcoin] due to a combination of excess stimulus from all the major central banks (ample liquidity in the system) and pick-up in geopolitical risks.”
Related:Market Wrap: Bitcoin Slides, Stocks Tread Water on Trump China Comments
Meanwhile, analysts at Stack, a provider of cryptocurrency trackers and index funds, believe the geopolitical tensions have created a “perfect storm” for the cryptocurrency.
In fact, they suggestedin a weekly reporton Thursday that the cryptocurrency’s week-to-date gains are the result of increased haven demand fueled by the U.S.-China tensions and the slide in the yuan.
“Previously back in 2019, similar fears have driven Chinese investors to move their onshore RMB (China’s yuan) out of the country, where speculators reckon a part of that has trickled into Bitcoin given the increased demand over the same period,” according to the report. “We are observing similar price action currently as Bitcoin has rallied 6.2% since, from $8,700 to $9,250 level, once again breaking out from its 2019-2020 daily trendline.“
Also read:Slipping Chinese Yuan May Boost Bitcoin Price, Past Data Suggests
It remains to be seen if the geopolitical tensions escalate and lead increased haven flows into bitcoin. The cryptocurrencydid rise byover 30% in the first half of January when Iran and the U.S. conducted airstrikes on their respective bases in Iraq, injecting geopolitical uncertainty into the financial markets.
Some might argue that bitcoin failed to perform as a haven asset during the height of the coronavirus crisis in March. While that is true, almost every asset, including classic safe haven asset gold, took a beating back then as investors fled for cash.
Aside from President Trump’s China speech, bitcoin analysts are also keeping an eye on the May expiry ofcash-settledfutures and options contracts listed on the Chicago Mercantile Exchange (CME).
“23k bitcoin equivalent futures and 10k bitcoin options are set to expire this Friday on CME. Approx 50% of open interest for each product,” crypto derivatives research firmSkew tweetedearlier this week.
Price volatility tends to pick up around the time of expiry of futures and options activity due to increased trading activity.
However, CME’s contribution to total futures open interest listed across the globe is only 11%, according to Skew data. Similarly, the Chicago exchange’s contribution to total options open interest is also quite low, so the expiry – due Friday at 15:00 UTC – may not have a major influence on prices.
Disclosure:The author holds no cryptocurrency at the time of writing.
• Bitcoin News Roundup for May 29, 2020
• First Mover: Bitcoin Rally Shows Traders Don’t Care That Goldman Hates Their Asset Class || Europe Set to Rebound, US Jobs Data on Radar: Traders in this part of the world continue to monitor the situation in the US, where the majority of states continue to see the number of new Covid-19 cases increase. As of yesterday, the number of confirmed cases in the US exceeded 3 million. On Tuesday, the WHO cautioned there could be an increase in the fatality rate as there has been a rise in infections, but the death rate so far has lagged. US-China tensions were doing the rounds yesterday. The decision by the Chinese government to introduce the national security law in regards to Hong Kong has sparked criticism from many countries around the world as it chips away at the principal of ‘one country two systems’. Yesterday there was speculation the US government would hit back at Beijing by potentially undermining the Hong Kong Dollar (HKD) peg. It wasn’t that long ago that President Trump reiterated that the US-China trade deal was intact, so going after the HKD might be a useful tactic. The US leader might be hesitant about taking a very tough stance against the Beijing administration given that he’s not doing well in the polls and the Presidential election is in November. The mini-budget from Rishi Sunak, the UK’s Chancellor of the Exchequer, made big political headlines yesterday, but it didn’t have a significant impact on the markets. Mr Sunak revealed £30 billion worth of schemes that are aimed at providing assistance to the UK economy. The furlough scheme will come to an end in October and £9 billion will be allocated to job retention. There will be a temporary cut to VAT for the tourism and hospitality sector. In addition to that, there have been incentives offered for dining out too – the combined stimulus is worth £4.5 billion. Providing help to the battered hospitality sector is a sensible move, but people in the UK might be cautious about socialising given what has happened in places like Melbourne and the US in relation to a rise in new cases. As expected, the stamp duty threshold was upped to £500,000 from £125,000. One could argue that this tactic might not be as fruitful as the government are hoping as some people are likely to be cautious about purchasing a property on account of the huge economic uncertainty. Story continues The health crisis in the US remained in focus. Oklahoma, California and Tennessee all posted a record daily rise in the number of new cases. States like Florida and Arizona continue to see higher case numbers too. Despite the pandemic, US equity benchmarks closed higher as the tech sector continued its bullish run. Amazon , Apple and Netflix all set new record highs. Raphael Bostic, the head of the Federal Reserve of Atlanta, said that some of the fiscal support programmes might need to be extended. Overnight, China posted its CPI data for June and the level was 2.5%, while economists were expecting 2.5%. Keep in mind the May reading was 2.4%. The PPI metric was -3%, and the consensus estimate was -3.2%, while the previous update was -3.7%. The improvement in the PPI rate might bring about higher CPI in the months ahead. Stocks in Asia are up on the session, and European markets are being called higher too. The US dollar came under pressure yesterday. It was a quiet day in terms of economic data so the move wasn’t influenced by economic indicators. Lately the greenback has been a popular safe haven for traders, it was showing losses during the day when European indices were in the red, and when US stocks were flickering between positive and negative territory. Gold was given a hand by the slide in the US dollar. The metal topped $1,800, and it was the first time since September 2011 that it traded above that mark. The commodity is still popular with certain traders as there are concerns that a second wave of Covid-19 could be on the cards. The metal’s positive move is being partly fuelled by the belief that central banks will maintain very loose monetary policy. Some people are afraid an inflation rise is in the pipeline, so that is influencing gold too. At 7am (UK time) Germany will post its trade data for May, and the imports and exports are tipped to be 12% and 13.8% respectively. The US initial jobless claims is anticipated to fall from 1.42 million to 1.37 million. The metric has fallen for the past 13 weeks in a row. The continuing claims reading is tipped to drop from 19.29 million to 18.95 million. Keep in mind that last week’s reading actually ticked up. The reports will be posted at 1.30pm (UK time). A eurogroup video conference meeting will be held today and traders will be listening out for any potential progress being made in relation to the region’s recovery fund. EUR/USD – since early May it has been in an uptrend, but it has been trading sideways recently. If it holds above the 1.1168 zone, it could target 1.1495. A break below the 1.1168 area might pave the way for 1.1042, the 200 day moving average, to be targeted. GBP/USD – since late June it has been in an uptrend, and should the positive move continue, it might target 1.2687, the 200-day moving average. A move through that level should put 1.2812 on the radar. A drop below 1.2251, might bring 1.2076 into play. EUR/GBP – Tuesday’s daily candle has the potential to be a bearish reversal, and if it moves lower it might find support at 0.8935, the 50-day moving average. A retaking of 0.9067 could see it target 0.9239. USD/JPY – has been drifting lower for the last month and support could come into play at 106.00. A rebound might run into resistance at 108.37, the 200-day moving average. FTSE 100 is expected to open 34 points higher at 6,190 DAX 30 is expected to open 153 points higher at 12,647 CAC 40 is expected to open 46 points higher at 5,027 For a look at all of today’s economic events, check out our economic calendar . By David Madden (Market Analyst at CMC Markets UK) This article was originally posted on FX Empire More From FXEMPIRE: Forex Technical Analysis & Forecast for July 9, 2020 EUR/USD Daily Forecast – Euro Eases Lower After Touching 4-Week High Why Are Bitcoin Exchange Trading Volumes Dropping? Uber Beefs up for Food Fight with $2.65B Acquisition People Worry Again. Will They Buy Gold? Stop Believing The “Economy” Is The Same As The Stock Market || The COVID-19 E-Commerce Boom Hasn’t Trickled Down to Bitcoin, Despite Advantages: Despite the COVID-19 e-commerce boom, bitcoin is hardly seeing more merchant usage as a transactional currency than it was five years ago.
“We’ve been doing this for six years and it’s still very rough around the edges,” said Brian Hoffman, co-founder of OB1, maker of crypto marketplace app Haven and its desktop counterpart, OpenBazaar.
The Haven app has logged 30,000 downloads since launching in July 2019. Since there’s a fine line between open commerce andbitcoin-fueled black markets, Hoffman said compliance costs are a chief concern for his startup. Any seller can list any item using the open-source protocol, but only compliant offerings get picked up by OB1’s search engine.
Related:Kraken Pledges $150K for Development of Open-Source BTCPay Server
“If we were taking a cut of every transaction … are we putting ourselves in a position where we’re a party in illicit activity?” Hoffman said, pondering how the firm’s business model might change in 2020. “We’re very neutral. The technology is just there. We wanted to do a different paradigm for the business.”
Although a variety of e-commerce trends are booming during the Great Lockdown, crypto payments remain exceedingly niche.
Read more:Bitcoin Usage Among Merchants Is Up, According to Data From Coinbase and BitPay
“We’ve seen about half a million dollars [spent] in the last three months for bitcoin, bitcoin cash, and litecoin. The majority is definitely bitcoin,” Hoffman said, whose startup earns money through affiliate marketing and a fraction of revenue from shops that use OB1 products.
Related:Bitcoin Still on Track for Quarterly Gains After Drop Toward $9K
Now compare that to marketplaces likeShopify, which also allows merchants to accept bitcoin but declined to comment for this story. The e-commerce platformreported$470 million in revenue during the first quarter of 2020, a 47% increase from the previous quarter. Even if we take OB1’s smaller scale into account, the crypto startup’s modest growth doesn’t appear to reflect the broader retail shift.
Merchant adoption among merchants and shoppers is far more comparable to the tiny community of daily active users ofdecentralized applications (dapps)in the gaming sector. In short, Bitcoin bulls who argue bitcoin is a better retail currency than Ethereum is a developer platform are speculating on future usage rather than current analysis.
Since the underlying software is more decentralized than marketplaces like Amazon, OB1 can’t charge all merchants. (That’s a feature, not a bug, considering how Etsy fees gougesmaller merchants. Regardless, Etsy usage is up and the company’sstock price tripledover the past three months.) OB1 laid off 12 employees earlier this year and is now a team of five.
“It protects your privacy while doing commerce; you can’t do that on Etsy. The information is on your device (for both sellers and buyers) and doesn’t go anywhere,” Hoffman said. “Now, after the layoffs, we have a refined focus on getting OB1 to be profitable moving forward.”
Read more:E-Commerce Giant Shopify Joins Libra Association
Sergio Abi-Naked and Dirk Abinakad, founders of the men’s accessories retailer Simply Carbon Fiber, said they started accepting bitcoin a few weeks ago, using the bitcoin payment processor OpenNode. So far no one has used bitcoin during the broader “increase in sales” sparked by the coronavirus crisis.
“I see the potential for it in the future, so we wanted to be prepared,” the retail founders, Abi-Naked and Dirk Abinaka, said about bitcoin. “We think this is where payments and e-commerce is going.”
It appears the merchants earning bitcoin are often evading censorship or serving niche connoisseurs.
Generally speaking, bitcoin usage continues to rise at amodest rateover the past year. According to a spokesperson for payment processor BitPay, volumes increased 10% in Q1 2020 compared to Q4 2019, primarily forcomputer products and services. This included an average of 98,000 transactions per month, according to the spokesperson.
“We saw a resurgence when eBay and Amazon were blocking mask sellers and stuff,” OB1’s Hoffman said. “Now we have new Chinese sellers trying to sell [medical] equipment.”
Likewise, OpenNode’s head of growth, Julie Landrum, said the company has seen the most bitcoin payments to merchants selling “luxury, high-value sales across borders” and “high-risk merchants” selling CBD products or erotic materials.
Beyond retail, Globeair CEO Bernhard Fragner said his luxury travel company usedBitPayto process four bitcoin payments worth $30,000 over the past few weeks.
“More people want to fly privately,” Fragner said of the private jets. “We expect to see more payments in bitcoin.”
Among smaller businesses, risky merchants are the primary sector where bitcoin is slowly gaining traction.
“It’s a little bit harder for those companies to get banking relationships, even though it’s perfectly legal,” Landrum said of high-risk merchants.
Many OpenNode customers automatically convert bitcoin to fiat until they are ready to withdraw, she said, to avoid losing value in the meantime from volatility. They can withdraw their earnings in either bitcoin or fiat. Spurred by customer demands, Landrum said OpenNode is applying for a wide range of financial services licensing beyond money transmission.
“It could be payroll, paying suppliers or gaming winnings,” Landrum said of prospective payments tools coming to the backend merchant platform. “This supports [merchant] business operations. In some cases, they send us fiat and want us to pay out in bitcoin.”
However, she added, licensing is a slow and expensive process. It takes startups months to compliantly shift their strategy to offering the services users want.
Read more:Cypherpunk Valentine: Why Shoppers Spend Bitcoin on Lingerie
Beyond bitcoin, there are plenty of experiments with natively digital shopping experiences. For example, ChromaWay co-founder Or Perelman said his startup is developing a VR shopping mall demo, where shoppers can use an integrated game wallet to purchase items with crypto in virtual stores. But it’s too soon to say whether people will actually use cryptocurrency this way.
Meanwhile, Facebook is doubling down on shopping features, potentially even with its newly rebranded crypto subsidiary, Novi.
“I think there are a lot of opportunities with Libra to make the process of commerce and payments helpful – a lot easier,” Facebook CEO Mark Zuckerberg said during the company’sshareholders’ calllast month.
OB1’s Hoffman said that as of 2020, bitcoin commerce offers an “alternative” to marketplaces like Etsy, especially for small merchants. But the commerce sector of the bitcoin economy isn’t growing at the same pace as mainstream competitors offering corporate brands – even taking the smaller scale into account.
“We’re making tons of sales using OpenBazaar,” Hoffman said of the mask and appliance sellers OB1 itself operates. “But if [shoppers] want an iPhone, we’re not there yet.”
• The COVID-19 E-Commerce Boom Hasn’t Trickled Down to Bitcoin, Despite Advantages
• The COVID-19 E-Commerce Boom Hasn’t Trickled Down to Bitcoin, Despite Advantages
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 9278.81, 9240.35, 9276.50, 9243.61, 9243.21, 9192.84, 9132.23, 9151.39, 9159.04, 9185.82
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2020-03-20]
BTC Price: 6198.78, BTC RSI: 39.08
Gold Price: 1484.00, Gold RSI: 35.21
Oil Price: 22.43, Oil RSI: 24.74
[Random Sample of News (last 60 days)]
5 ways Bitcoin's price is looking up: The Bitcoin bulls are cautiously back in town. Even though Bitcoins price saw a big decline in the latter half of 2019, there are a few reasons why this trend may not continue into 2020. According to data provided by Arcane Research and collated by Luno , here are five reasons why Bitcoins price might have turned a corner. Prices are going up One of the surest signs of a bull market is also one the simplestprices going up. Most major cryptocurrencies have seen dramatic gains recently, with Bitcoin (BTC), Ethereum (ETH) and XRP all gaining around 30-40% in the last month. Crypto prices have jumped in recent weeks. Image: Luno. Likewise, a handful of cryptocurrencies have racked up even more impressive gains in this time, with both ICON and IOTA gaining well over 100% in the last month. However, short term price rises are not necessarily confirmation of a new market direction; volatile cryptocurrencies can have big gains even during a market downturn. Bitcoin price breakout confirmed A clearer sign that the Bitcoin market isnt nosediving any further is that it broke out of its downward path. Bitcoin price breaking out of its downwards channel. Image: Luno From August to November 2019, Bitcoin was heading down in a clear channel. However, Bitcoins recent price gains pushed it outside of this channel. This sparked its recent bullish momentum. Entire crypto market cap breaks out of major downtrend Crypto analysts have used this to argue that it might suggest Bitcoin is heading in a new direction. When the breakout started to occur, Peter Brandt questioned whether this was the beginning of a new bull market . Now that the price of Bitcoin has cleanly broken out of the downward channel, his theory has more evidence to go on. Market sentiment is bullish Traders are now feeling more positive about the Bitcoin price, according to a sentiment tracker. Alternative.me's crypto Fear & Greed Index now sits at 57on a scale from one to 100its highest levels since last August. This shows that traders are more bullish than they have been in the last six months, possibly riding on the back of Bitcoins price breakout. Story continues Traders are feeling more bullish about Bitcoin. Image: Luno In fact, traders are as confident in the market as they were back in August, when the price went as high as $12,500. Currently the Bitcoin price is just $9,100, having failed to crack the $9,500 mark. But other indicators suggest Bitcoins bullish momentum is on the rise. Bitcoin volume is growing Bitcoin trading volume has picked back up. This is a sign that traders are getting more active in the market again. Bitcoin's volume is starting to grow again. Image: Luno According to the data provided by Luno, Bitcoin volume dipped significantly by the end of 2019, before picking up again in January 2020. While the current volumes are lower than the spikes seen throughout 2019, they are starting to grow again, suggesting there could be further volumes rises on the cards. Bitcoin volatility is growing Bitcoin's volatility is also trending upwards. In the last 30 days, Bitcoin's volatility has gradually increased since the beginning of the year. Bitcoin's volatility is starting to rise again. Image: Luno For Bitcoins price to riseand fallvolatility is obviously a factor. Again, while Bitcoin is still less volatile than it was last year, it is becoming increasingly volatile, suggesting that greater price shifts are on the way. But will the bullish momentum continue or will crypto winter set in once again? The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice. || Bitcoin Holds its Ground: The main point in recent dynamic weekend is its ability to stay above $9,000 and come close to the critical resistance level at $9,500.
The Greed and Fear Index is now at the “Greed” level, showing approximately the same values during the week and quite accurately reflecting what is happening in the market.
The RSI on the daily chart stabilised after drop from overbought levels. This dynamic once again confirms the positive market fundamentals, because even after the decline, we did not see a massive drawdown of the cryptocurrency quotes.
Whale alert Telegram channel shows a transfer of almost $500 million between unknown wallets. Such a transfer also indicates the existence of deepwater currents that can form the basis for future dynamics.
Bitcoinshowed minimal fluctuations during the weekend, while altcoins moved up confidently. The dominance index dropped to 65.3%, fall short of a few percents to December 2017 levels: the time when the altcoin season began, marking the start of the decline in the BTC Dominance index to 33%.
So now we’re witnessing signs of the altcoin season coming back, no matter how ridiculous this statement was just in the recent past. Speculative interest may indeed create an upward impulse for the altcoins, but only the emergence of fundamental reasons for growth can provide this sector with a strong rebound.
We don’t want to sound overly optimistic, but the Glassnodes research shows another important bullish signal for the crypto sector as a whole in the form of growth of the bitcoin user base. It’s a tremendous job to systematise such large-scale data arrays with significant adjustments in the calculation.
The company’s analysis also takes into account those balances that are now zero, although they used to have funds previously. It was no surprise to see that in the historical perspective, the growth of bitcoin associated with the growth of the user base.
In particular, the historic 2017 rally coincided with an influx of new users. The same was true for the 2019 rally. At the moment, the company’s analysts also record an increase in the number of active users, which, together with all other indicators, maybe a sign of a positive outlook.
However, especially in moments of widespread enthusiasm, we should be cautious about the market prospects at a time when the whole crypto community will start to predict a new historic rally. There is always a chance that it will happen. But you have to understand that it may stop and reverse at the most unpredictable moment.
The market is now ruled by institutional investors who did not buy Bitcoin for $20K, like most new retail investors. Therefore, one should focus on the moment of general euphoria and the return of unshakable faith in the market’s prospects as an impulse for sale.
This article was written byFxPro
Thisarticlewas originally posted on FX Empire
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• Equities Rebound, Coronavirus Spreads Further, Earnings Season In High Gear || Latest Ripple price and analysis (XRP to USD): Ripple’s controversial XRP token is currently trading above the $0.14791 level of support after bouncing by 15% from its $0.12876 low. The relief rally comes after a troubling month for XRP with it losing more than 56% of its value since February 15. The sell-off has been reflected across all cryptocurrency trading pairs, with the likes of Bitcoin also suffering a 50% correction. XRP is occupying uncharted territory at the moment with it not trading this low since before the 2017 bull market. It needs to continue trading above $0.13, at the very least, in order to avoid a further plunge below the psychological level of support at $0.10. From a bullish perspective it needs to rally back above the $0.1691 level of resistance before taking a stab at the $0.20 level, although a spike in volume is required for a hike of that magnitude to come into fruition. Despite suffering a major sell-off XRP remains the third largest cryptocurrency with a market cap of $6.5 billion with daily trade volume regularly exceeding $2.5 billion. Much of the upcoming XRP price action will depend on the trajectory of Bitcoin leading up to May’s halving, which has historically been a bullish even for cryptocurrencies. For more news, guides and cryptocurrency analysis, click here . Latest Ripple price Current live Ripple 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 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 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. Story continues 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. || Bitcoin Drops 2% Following Feds First Emergency Rate Cut Since 2008: Bitcoin prices slid Tuesday after the U.S. Federal Reserve announced an emergency cut in interest rates to counteract risks to the economy from the spreading coronavirus. The largest cryptocurrency by market value was down 2.2 percent to $8,722 as of 15:28 UTC (10:28 a.m. ET). Prices had surged 4.6 percent on Monday, rising alongside U.S. stocks as traders in traditional financial markets bet the Fed would soon cut rates to address the economic impact of the contagion. Efforts to contain the outbreak have disrupted travel and business activity while threatening consumer confidence. The Federal Reserve, led by Chair Jerome Powell, cut its benchmark short-term interest rate by 0.5 percentage point to a range between 1 percent and 1.25 percent. The U.S. central banks monetary-policy committee hadnt been scheduled to make its next decision on interest rates until March 18. This marks the first emergency rate cut since the financial crisis in 2008. Related: CoinDesks Statement on Coronavirus and Blockchain Week NYC The coronavirus poses evolving risks to economic activity, the Fed said in a statement on its website . The committee is closely monitoring developments and their implications for the economic outlook and will use its tools and act as appropriate to support the economy. Nonetheless, an hour after the Feds rate cut, the S&P 500 index was down 1 percent. Despite a belief among some investors that bitcoin (BTC) should trade as a safe-haven asset akin to gold or U.S. Treasury bonds, the cryptocurrencys price had tumbled recently along with riskier assets like stocks as traders scrambled into cash. Economists with the Organization of Economic Cooperation and Development said Monday in an assessment that the coronavirus contagion likely will shave 0.5 percentage point off of projected 2020 global growth, from an already weak 2.9 percent. Related: Bitcoin Keeps Recovery Hopes Alive With Defense of Major Average Support Global authorities, including the Fed as well as the Bank of Japan, International Monetary Fund and World Bank, said they would act as needed to help offset any lasting economic damage from widespread travel cancellations, quarantines and factory disruptions. Trading in the Chicago Mercantile Exchanges market for futures contracts on the Feds benchmark interest rate had moved over the past week to reflect a 100 percent chance of a 0.5 percentage point cut by the central banks March 18 meeting. The Fed started raising interest rates in 2015 as the economy recovered from the 2008 financial crisis. But the central bank abruptly reversed course last year and started cutting rates as the stimulus faded from President Donald Trumps late-2017 tax cuts. Story continues The crypto-focused investment firm Arca, based in Los Angeles, wrote Monday in an emailed analysis that surprise central bank actions have now become expected by traders whenever markets are rattled. They are no longer surprises, Arca said. In fact, they are outright demanded. This is the definition of moral hazard. Related Stories The Markets Were Already Vulnerable, Then Came Coronavirus Bitcoin Price Falls After One-Hour Volume Spike View comments || Bitcoin enters accumulation phase ahead of halving: Bitcoin has now been trading in a sideways pattern for the past three days following last weekends wildly volatile price swings. On January 19, Bitcoin momentarily traded above $9,000 before a staggering 8% decline in a one-minute candle. The slump ended with Bitcoin bouncing at the $8,400 level of support, which was a previous point of resistance on January 8. Since then, the worlds largest cryptocurrency has stabilised in the $8,650 region, with price seemingly being pegged to the 50 exponential moving average (EMA) on the four-hour chart. Its also worth noting that the current price point also marked Novembers infamous death cross, which saw the daily 50 EMA cross the 200 EMA to the downside. The 50 EMA is now interestingly ticking back up towards the 200 EMA, which means a golden cross could come to fruition in the coming weeks to provide more pressure to the upside. The initial levels of resistance to look out for on the Bitcoin chart are at $8,830 and $9,050. A break above either of these levels will almost certainly see volatility return to the market as the block reward halving edges closer. As previously reported by Coin Rivet, previous halvings have always preceded Bitcoin forming a new all-time high within the space of a year, as miners are incentivised to increase the price in order for the industry to stay profitable. For more news, guides, and cryptocurrency analysis, click here . The post Bitcoin enters accumulation phase ahead of halving appeared first on Coin Rivet . View comments || Ex-Microsoft Engineer Used Bitcoin to Help Embezzle Millions From Tech Giant: A U.S. court has found a former Microsoft software engineer guilty of embezzling millions of dollars and turning it intobitcoin(BTC) to fund a life of luxury.
Volodymyr Kvashuk, 25, was convicted Tuesday by the U.S. District Court in Seattle of 18 separate federal felonies that defrauded Microsoft out of a total of $10 million, according to astatementfrom the Department of Justice.
A Ukrainian citizen based in the town of Renton, Washington, Kvashuk worked full time for Microsoft from 2016 to 2018. Involved in developing and testing the company’s online retail sales platform, he used his account access to steal what is described as “currency stored value” including digital gift cards that he subsequently re-sold on the internet over a seven-month period.
Related:Ukraine Justice System Employee Caught Mining Crypto at Work
Kvashuk built a lavish lifestyle using the embezzled funds, purchasing a $160,000 Tesla and a lakefront home worth an estimated $1.6 million. After uncovering the scheme, Microsoft confronted Kvashuk and fired him in June 2018.
Kvashuk, who claimed at trial to be working on a special project for the company, stole amounts totaling roughly $12,000 under his own account before using test email accounts associated with fellow Microsoft employees to begin embezzling millions of dollars from the company. Changing funds into bitcoin, he would use a mixing service to obfuscate its origins before transferring the ill-gotten gains into his bank account.
In total, bitcoin proceeds of over $2.8 million were transferred into his bank account. In tax returns filed during this period, Kvashuk claimed the funds were a gift from a relative.
The trial, which lasted five days, found the engineer guilty on five counts of wire fraud, six counts of money laundering, two counts of aggravated identity theft, two counts of filing false tax returns and one count each of mail fraud, bank card fraud and using a company computer for illicit purposes.
Related:Crypto Investor’s Case Against AT&T Over $24M SIM Hack Can Proceed, Judge Rules
Speaking after the trial, special agent Ryan Korner from the Internal Revenue Service’s criminal investigations division highlighted that Kvashuk’s conviction was a result of work carried out by the IRS.
“Criminals who think they can avoid detection by using cryptocurrency and laundering through mixers are put on notice … you will be caught and you will be held accountable,” he said.
Kvashuk faces as much as 20 years in prison when he is sentenced by the presiding judge on June 1.
• Finnish Authorities Have $15M in Seized Bitcoin but Don’t Want to Sell It
• Officials Arrest US Resident for Allegedly Laundering Drug Proceeds With Crypto || South Korean Lawmakers Greenlight Strict Crypto AML Bill: South Korean lawmakers voted Thursday to place tough new requirements on cryptocurrency exchanges, adding legitimacy to the countrys sprawling crypto economy and potentially triggering a market consolidation down the road. As reported by CoinDesk Korea , the legislation an amendment to Koreas existing Financial Information Act shores up South Koreas anti-money-laundering (AML) and counter-terrorism financing (CFT) framework for virtual asset service providers (VASPs). The act requires all VASPs to register with regulators and partner with a single bank for deposits and withdrawals. This linkage of virtual wallets and real-world bank accounts both of which must be registered to a users actual name will make it easy for regulators to track the movement of illicit funds. Related: Why Bitcoin Mining Might Be the New Business Model for US Power Plants Additionally, VASPs must get their systems certified by the Korean Internet Security Agency, a costly and often lengthy process that only six companies and exchanges have so far cleared. That could squeeze out Koreas smaller players who cannot afford to take on the regulatory burden, CoinDesk Korea reports. Exchanges may attempt to consolidate, raising funds and banding together to meet the new requirements. But it could also be a death knell for gray-area projects trying to take advantage of investors, particularly initial coin offerings (ICO), which must follow the registration requirements under the new law. If this passes in Korea, blockchain companies and cryptocurrency will officially be regulated but accepted in Korea. Bad news for scammy ICOs and exchanges. Good news for blockchain professionals in Korea, tweeted Doo Wan Nam, who works with MakerDAO. Related: Binance Throws Weight Behind Shyft Network in Travel Rule Standards Race The legislation is the latest example of a country working to comply with new global AML and CFT directives in the virtual asset space. Ever since the Financial Action Task Force (FATF) issued guidelines for policing VASPs , regulators have been racing to clamp down on potential illicit activity in their jurisdiction. Story continues South Koreas president has 15 days to sign the amendment into law. Some provisions will take effect one year after its signed, and the full law will come into effect six months after that. Related Stories Hong Kong to Consider Additional FATF-Style Regulations for Crypto Exchanges Iranian General Advocates Crypto Use for Skirting Sanctions: Report || Bill Gates Foundation To Fund Coronavirus Testing Kits In Seattle, Aims At Checking Spread Of Disease In The Region: Microsoft Corporation(NASDAQ:MSFT) co-founder Bill Gates' foundation is set to fundhome testing kitsto diagnose coronavirus in Seattle.
What Happened
The Bill and Melinda Gates Foundation will sponsor a project to allow home testing for the Covid-19 virus using a nasal swab. People who take the test can also provide information about their movements and contacts through an online form, according to the Seattle Times.
The launch date of the project has not yet been disclosed, but the plan is to increase testing from an initial 400 per day to thousands, according to Scott Dowell, leader of the coronavirus response at the foundation.
Last week the organizationannounceda $5 million fund to help public health agencies in the greater Seattle region detect the virus. Mark Suzman, CEO of the Gates Foundation, said in a statement, “Early detection plays an essential role in helping public health authorities identify and treat people with COVID-19, take steps to safely isolate them and reduce transmission within the community.”
Separately, the Gates Foundation will give $100 million to improve “detection, isolation, and treatment” in Africa and South Asia.
Why It Matters
Seattle & King County confirmed 71 cases of the coronavirus and 15 deaths as of Saturday. Computer modeling conducted by an expert on Wednesday projects the existing number of cases to be nearly 600. If unchecked, the number is expected to reach 3000 by the end of the month reported the Seattle Times.Technology companies operating in Seattle likeAmazon Inc.(NASDAQ:AMZN),Alphabet Inc.(NASDAQ:GOOGL) (NASDAQ:GOOG), Microsoft,Twitter Inc.(NYSE:TWTR), andFacebook Inc.(NASDAQ:FB) have asked their employees towork from homeif possible.
Price Action
Microsoft shares traded 0.85% lower at $160.20 in the after-hours session on Friday. The shares had closed the regular session 2.83% lower at $161.57.
Photo Credit: Kjetil Ree via Wikimedia.
See more from Benzinga
• Lipper Award Winners Pick Healthcare and Technology Stocks Amidst Coronavirus Downturn
• Bitcoin Mining Equipment Company Canaan Sued By Investor Alleging Securities Law Violations
• Lyft San Francisco-Based Employees Told To Stay Home Over Coronavirus Fears
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Panic grips financial markets after U.S. travel curbs, ECB move: By Rodrigo Campos NEW YORK (Reuters) - Panic hit world financial markets on Thursday after stimulus efforts from the European Central Bank failed to calm investors alarmed by U.S. moves to restrict travel from Europe because of the coronavirus pandemic. An MSCI global gauge of stocks posted its largest daily percentage drop on record, as did European shares <.STOXX>. Wall Street's Dow industrials index <.DJI> recorded its largest daily decline since the Black Monday crash of October 1987. The New York Federal Reserve pumped more liquidity to banks, briefly reversing some of the day's losses. It was the third substantial increase in repo support announced by the U.S. central bank this week, a sign the Fed is taking drastic steps to inject more liquidity into the banking system as markets show signs of stress. The U.S. dollar responded atypically, rising against numerous currencies and gold in yet another sign of financial market stress. Oil prices sank further, while traditional safe-haven assets like gold and the Japanese yen lost value against the dollar. Trading was halted for 15 minutes shortly after the open in New York after the benchmark S&P 500 stock index tumbled more than 7%. It ended down 9.5%. In a televised address late on Wednesday that included support measures for the economy, U.S. President Donald Trump imposed restrictions on travel from Europe to the United States, shocking investors and travelers. Traders were disappointed after hoping to see broader measures to fight the spread of the virus and blunt its expected blow to economic growth. "The economy is going to grind to a halt in the next month and the recession risk is real now," said Zhiwei Ren, managing director at Penn Mutual Asset Management in Horsham, Pennsylvania. Trump said the United States would suspend all travel from Europe, except Britain and Ireland, for 30 days starting on Friday. He later said trade would not be affected by the restrictions. Story continues Worries spread far beyond stocks to companies' lines of credit and their ability to finance business activity in the short term. Fear of the unknown "is gripping markets and it’s more impactful in the credit markets at the moment; liquidity has effectively evaporated," said John McClain, a portfolio manager at Diamond Hill Capital in Columbus, Ohio. "People are looking ahead and saying 'What’s this world going to feel like when we’re all working at home?'" The European Central Bank approved fresh stimulus measures and temporarily dropped banks' capital requirements to help the euro zone cope with the shock of the pandemic, but kept interest rates on hold, disappointing markets. The Dow Jones Industrial Average <.DJI>sank 2,352.6 points, or 9.99%, to 21,200.62, the S&P 500 <.SPX> lost 260.74 points, or 9.51%, to 2,480.64 and the Nasdaq Composite <.IXIC> dropped 750.25 points, or 9.43%, to 7,201.80. The pan-European STOXX 600 index <.STOXX> lost 11.48% and emerging market stocks lost 6.71%. Japan's Nikkei futures <NKc1> lost 10.88%. MSCI's gauge of stocks across the globe <.MIWD00000PUS> shed 9.51% and was down more than 20% from its 52-week peak. The index has lost more than 26% over the last 20 sessions. The VIX volatility index <.VIX> - Wall Street's "fear gauge" - and an equivalent measure of volatility for the Euro Stoxx 50 <.V2TX> hit their highest since the 2008 financial crisis. INTO THE UNKNOWN Fed fund rate futures <0#FF:> are now pricing in a 1.0 percentage point cut, rather than 0.75, at a policy review next week. The euro weakened after the ECB stimulus announcement. Demand for dollars via the currency derivative markets surged to the highest levels in years in a sign that coronavirus-induced economic stress is starting to manifest itself in a broad scramble for funding in dollars. "Dollar liquidity is king in times of crisis and that is what the blow-out in swap spreads is telling us," said Kenneth Broux, a currency strategist at Societe Generale in London. He said this could mark a move into the next sell-off stage, which could mean a three-week-long worldwide rout in shares and riskier bonds giving way to a rush for dollars. The dollar index <=USD> rose 0.792%, with the euro <EUR=> up 0.08% to $1.1192. The Japanese yen weakened 0.09% versus the greenback at 104.76 per dollar, while Sterling <GBP=> was last trading at $1.2585, up 0.11% on the day. The Brazilian real <BRL=>, Colombian peso <COP=> and Mexican peso <MXN=> all hit historic lows versus the greenback. Bitcoin plunged 28.1% amid wild volatility in cryptocurrency markets. <BTC=BTSP> Oil prices were also hit, compounded by an intensifying price war between Saudi Arabia and Russia, on top of fears of a sharp slowdown in the global economy. U.S. crude <CLc1> fell 6.03% to $30.99 per barrel and Brent <LCOc1> was last at $32.84, down 8.24% on the day. Spot gold <XAU=> dropped 3.5% to $1,576.79 an ounce. Palladium <XPD=> dropped 20.6% to $1,831.09 an ounce. Benchmark 10-year U.S. Treasury notes <US10YT=RR> rose 3/32 in price to yield 0.8121%, from 0.822% late on Wednesday. (Reporting by Rodrigo Campos; additional reporting by Bozorgmehr Sharafedin, Saikat Chatterjee and Sujata Rao in London, Karen Pierog in Chicago, Medha Singh in Bengaluru, Ann Saphir in San Francisco and Jonnelle Marte, Kate Duguid, Karen Brettell, Herb Lash and Saqib Iqbal Ahmed in New York; Editing by Bernadette Baum and Dan Grebler) || Bitcoin Lender BlockFi Raises $30M in Series B Led by Peter Thiels Valar Ventures: Fresh on the heels of an $18.3 million Series A funding round in August, crypto lending startup BlockFi has secured a $30 million Series B. Announced Thursday, the new funding will help the firm expand both its product offering and geographic footprint. We decided to opportunistically raise the Series B to expand the balance sheet and give ourselves the ability to invest in the things were doing this year, BlockFi CEO Zac Prince said in an interview. Related: PoolTogether DeFi App Announces $1M Investment After No-Loss Lottery Payout Tops $1K The Series B was led by Peter Thiels Valar Ventures with participation from repeat investors Morgan Creek Digital, PJC, Akuna Capital, CMT Digital, Winklevoss Capital and Avon Ventures. New investors included Castle Island Ventures, Purple Arch Ventures, Kenetic Capital, Arrington XRP Capital and HashKey Capital. Having Hong Kong-based HashKey as an investor will help BlockFi expand into Singapore later this year, Prince said. While the company has been serving customers in the region, this would be its first physical presence there. In the Asia-Pacific region, BlockFi expects to attract a lot of institutional customers, Prince said, given the number of mining companies, asset managers, exchanges and market makers that exist there. BlockFi also plans to begin attracting more retail customers in the region as it translates its site and products into local Asian languages. In the first quarter of this year, the startup plans to develop a mobile app and the ability to send fiat wire transfers. In Q2 2020, BlockFi plans to offer Automated Clearing House (ACH) payments. Related: How Fund Managers View Lending and Staking: 3 Takeaways From a CoinDesk Research Webinar It also expects to double the size of its 75-person team by the end of 2020, Prince said. BlockFi has been providing fiat loans with bitcoin (BTC) and ether (ETH) collateral since the beginning of last year. In March, it launched a service offering clients interest on their crypto, which the company then loaned out to institutions. BlockFi has had to cut rates more than once because borrower supply has not been able to meet depositor demand . Story continues The firm reports having more than $650 million in assets on its platform, a 160 percent increase from the $250 million in assets it reported in August, with a 0 percent loan loss rate. Last month, BlockFi announced a slight reduction in yield for customers lending bitcoin and ether, caused by a more bullish crypto market. Related Stories BlockFi Adjusts Interest Rates to Lure Larger Crypto Deposits Bitfinex Investors Crypto Lending Startup Posts $2.3M in 2019 Revenue
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: up || Prices: 6185.07, 5830.25, 6416.31, 6734.80, 6681.06, 6716.44, 6469.80, 6242.19, 5922.04, 6429.84
|
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]
Not fully available.
[Random Sample of News (last 60 days)]
Bitcoin spikes 70% in a month; nobody knows why: Bitcoin(:BTC=), the world's most popular digital currency, has been on a roll — but no one is really sure why.
After dipping well below $200 in January, bitcoin traded at more than $410 Tuesday afternoon before cutting some of those gains, according to the CoinDesk Bitcoin Price Index. That's about 25 percent higher than the same time last year but well below the historical high of about $1,150.
This upswing, which began about a month ago when bitcoin traded below $240, comes on the heels of a steady stream of good news for the digital asset and its associated ecosystem. But even with recent favorable regulatory rulings, press coverage and business investments, experts in the space are struggling to explain the one-month jump of more than 70 percent.
For comparison, gold(CEC:Commodities Exchange Centre: @GC.1)is down about 5 percent on the year, and slightly negative on the month.
Some have attributed the size of the recent jump toinvestors' fear of missing out (FOMO), while others such as "Fast Money" trader Brian Kelly point to ecosystem headlines like theWinklevoss twins launching their exchangeand the Digital Currency Groupannouncing fundingfrom Bain and MasterCard(MA).
But bitcoin has boasted a steady parade of media highlights and major investments from important financial firms all year, so it's not immediately obvious why this past month would mark a turning point.
Read MoreWhy financial firms are investigating bitcoin tech
Brendan O'Connor, the CEO of bitcoin trading firm Genesis Global Trading, told CNBC he has no easy answers about the price jump. Although he said rumors were flying around the community about international rings of traders teaming up to drive up the exchange rate, O'Connor was unable to confirm anything he'd heard.
For its part, Genesis Global is experiencing a "dramatic increase in activity" from renewed interest in bitcoin as a tradable asset, O'Connor said.
"When the price starts going up, people start coming out of the woodwork," he said. "We're setting new records almost on a daily basis for amount traded and number of transactions."
Read MoreBitcoin to be 6th largest reserve currency by 2030: Research
It should be noted that bitcoin is a relatively illiquid market, so its exchange rate against major world currencies has been historically volatile. Still, O'Connor said volume from the Chinese bitcoin market has been "off the charts," so there may be a genuine upswing in interest from that region.
In fact, Kelly suggested in a Tuesday note that Beijing's tightening of capital controls may have spurred some of the recent price gains.
Additionally, many in the bitcoin community insist that the daily price of the cryptocurrency is not a relevant metric, as it distracts from the world-changing potential of the technology.
Others worry that the cycle of mainstream media coverage on bitcoin's price will recreate a story they've seen before:
More From CNBC
• Top News and Analysis
• Latest News Video
• Personal Finance || Caribbean's Next Top Model Set for Season 2 Premiere: MIAMI, FL--(Marketwired - Oct 15, 2015) - On October 19, young women from all over the Caribbean will begin chasing their dreams of success as career models, when the second season of Caribbean's Next Top Model (CNTM) makes its premiere on Flow TV. Cable and Wireless, which operates both the Flow and LIME brand, is the premium sponsor for the show's sophomore season, which will run for 11 episodes, starting on October 19. The Caribbean reality show is based on the successful original production -- America's Next Top Model. This regional program follows the stories of young women seeking to launch a career in the competitive world of modelling, and is produced and presented by Wendy Fitzwilliam, a former Miss Universe, successful model and entrepreneur. "We are extremely excited to be partnering with Wendy Fitzwilliam and her Caribbean's Next Top Model team," said John Reid, President of the C&W Communications, Consumer Group. "We are not just committed, but we are also proud to support Caribbean producers who generate quality local content for the region." Reid also noted that customers now have more options to access the exciting regional programme across multiple platforms, including their TV and other smart devices, where the mobile option was available. Customers in Jamaica, Trinidad, Barbados, Cayman, and Curacao will also be able to access the show at their convenience using Flow's Video on Demand (VOD) feature. Aside from the many viewing options, Flow customers, will also be able to participate in other exciting promotions including weekly SMS competition to win a new iPad, tablet, or other great prizes. Commenting on the partnership, Fitzwilliam said, "It is so refreshing when a corporate entity recognises the need for support and undertakes the responsibility of enabling the development of Caribbean talent and content -- Flow has definitely got it right. With Flow you get more -- CNTM's fans will get a wholesome entertainment experience, one that is as interactive and engaging as possible. With Flow's quad play technology, viewers can truly enjoy the upcoming season to the fullest extent." Story continues Caribbean Next Top Model will be broadcast simultaneously on the Flow TV platform across the region on Monday nights from October 19 at 7:30 p.m. in Curacao, Jamaica, Cayman Islands and at 8:30 p.m. -- in Trinidad, Jamaica, Barbados, St. Vincent and the Grenadines, Grenada, St. Lucia, Antigua and Barbuda and The Bahamas. As the season unfolds, each CNTM episode will first air on Flow TV and will then air on other stations, five days after the initial Flow airing. Season Two of Caribbean's Next Top Model will premiere with a star-studded fashion event at the Betsy Hotel on South Beach, Miami on October 19. About C&W Communications Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over US$2.4 billion, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc on 31 March 2015, C&W now delivers superior high-speed mobile data, broadband and TV/video services. It has leading market positions in Mobile, Fixed Line, Broadband and TV consumer offers. Through its business division, C&W provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers. The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 48,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity and a growing suite of wholesale managed services. C&W has more than 7,500 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; Video 460k and Broadband 665k) as well as over 125k corporate clients and 225 wholesale customers across 42 countries. The Company's leading brands include: LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. C&W is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programs. Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit: www.cwc.com . || Bitcoin Seeks To Right Music-Industry Wrongs: The music industry has been plagued by problems ever since the advent of the Internet and digital file sharing. Free file sharing, illegal downloads and streaming services that offer unlimited listening for a low monthly fee have all contributed to a growing resentment among artists who say that the value their work isn't being recognized adequately. However, the bitcoin community is looking to all of that by using blockchain, the ledger-like technology that the cryptocurrency runs on, to create more transparent contracts. Royalty Distribution As many artists have their royalty fees negotiated by their labels, undesirable contracts with streaming services are often outside of their control. That means that their music can be played on services like Apple Inc. (NASDAQ: AAPL )'s Apple Music or Spotify for a minor fee that the artist often find insufficient. In order to combat this, Ujo Music is working to create a system in which artists contracts are secured via blockchain. That way, transparency between the artist, the label and the streaming service is ensured and artists have more control over how and where their music is sold. Related Link: Is Adele Giving Pandora's Stock A Boost? Maybe, But A Major Copyright Overhang May Have Just Been Removed Peer-To-Peer Sharing A service called Peertracks is looking to use an alt-coin in order to deliver value to artists that choose to share their music on the service. The company uses "artist tokens" which increase in value as a particular track gains popularity. Music that doesn't reach many people would generate tokens with less value. In such a system artists are paid for the consumption of their music and rewarded for songs that are particularly catchy. Bitcoin Payments Bittunes is another startup aiming to the music industry, only this service is hoping to keep things simple and use bitcoin as a form of payment. The company allows users to play new tracks for $0.50, half of which goes to the artist while the other half is redistributed to a group of buyers. That way, the company's managing director Simon Edhouse has said, the transaction remains between an artist and their fans. Songs that make it to the service's Top 100 increase in price to $1.00, leaving the artist with 40 percent of the sale, the buyers sharing an additional 40 percent between themselves while Bittunes collects the remaining 20 percent. Story continues A World Outside Of Cryptocurrency Blockchain's entrance into the music space underscores the growing enthusiasm surrounding the technology. While bitcoin itself has raised questions about safety and reliability, the technology behind the cryptocurrency is often dubbed one of the most important technological advances of the decade. For that reason, many startups are focusing on how to implement blockchain into new industries rather than on ways to help spread the word about bitcoin. Many believe that bitcoin may never make it as a widely accepted form of currency, but on the other hand blockchain has the potential to revolutionize several different industries. See more from Benzinga 6 Ways Blockchain Could Change The World 8 Ways To Add Solar To Your Portfolio Obamacare Is Still Under Pressure; Here's Why © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || A star Silicon Valley entrepreneur explains how bitcoin is going to change the world: Wences Casares (RealVision Television) Tech entrepreneur and bitcoin guru Wences Casares saw his family lose their entire wealth three times in Argentina because of hyperinflation, a currency collapse and confiscation. "[There's] more people in the world who need a currency they can trust than the opposite," Casares told Dan Morehead, the ex-head of macro trading at Tiger Management, in a new interview on RealVision Television, a subscription financial news service. Those instances are what ultimately led him to the digital cryptocurrency bitcoin. Casares created Argentina's first internet provider and later sold his online brokerage firm to Banco Santander for $750 million in 2000. He is now a star of the Silicon Valley bitcoin scene, heading Xapo, a company that provides a bitcoin wallet and storage vault. The real "a-ha" moment for bitcoin happened when he was planning a trip with a group of childhood friends back in Argentina. 'I was very skeptical' "We all had to chip in some money. They were all in Argentina except me, I'm here in California. They all got together and gave the cash to one of them. And I was trying to find a way to send money. At the time, PayPal had to stop sending money to Argentina and wire transfers were not working because of the currency control." That's when one of his friends suggested using bitcoin. "I was very skeptical because this particular friend of mine is not particularly tech savvy or financially sophisticated." Mauricio Macri Argentina Argentinian President (REUTERS/Ivan Alvarado) Mauricio Macri was elected president of Argentina in November Casares did some research online and arranged a meeting in a Palo Alto cafe with someone he connected with on Craigslist. He gave the man cash and got some bitcoin in return. He immediately sent the bitcoin to his friend in Argentina. "By the time I made it back to the office my friend had sold it for pesos in Argentina. I was like, 'Wow that's incredible. It's like magic.'" Casares compared the power of bitcoin in the developing world to the cellphone. Story continues "I think it's obvious the cellphone had a lot more impact in developing world than the developed world because most phones in the developing world are cellphones. If it weren't for cellphones the developing world would not be communicating so it really changed the lives of people in emerging markets." That's not to say that cellphones aren't important in the developed world though. Bitcoin will be important there too, Casares said. "It's easier to see how [bitcoin can be] transformative and it can change the lives of people in emerging markets, but it also has an important role to play in the developed world." Watch the teaser below. You can watch the full interview by subscribing to RealVision: NOW WATCH: How a successful investment banker used insider information to bankroll his mistress and child More From Business Insider Coinbase introduces Bitcoin debit card The man everyone thinks is the creator of bitcoin gave a rare speech discussing the history of the technology Microsoft goes big on bitcoin || 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. || 10 things you need to know today: (https://pictures.reuters.com/C.aspx?VP3=SearchResultFarmer 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 of17.7 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.
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 fromgovernor 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
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• 10 things you need to know today
• 10 things you need to know today || A star Silicon Valley entrepreneur explains how bitcoin is going to change the world: (RealVision Television)Tech entrepreneur and bitcoin guru Wences Casares saw his family lose their entire wealth three times in Argentina because ofhyperinflation, a currency collapse and confiscation.
"[There's] more people in the world who need a currency they can trust than the opposite," Casares toldDan Morehead,the ex-head of macro trading at Tiger Management, in a new interview onRealVision Television,a subscription financial news service.
Those instances are what ultimately led him to the digital cryptocurrency bitcoin.
Casares created Argentina's first internet provider and later sold his online brokerage firm to Banco Santander for $750 million in 2000. He is now a star of the Silicon Valley bitcoin scene,headingXapo, a company that provides a bitcoin wallet and storage vault.
The real "a-ha" moment for bitcoin happened when he was planning a trip with a group of childhood friends back in Argentina.
"We all had to chip in some money. They were all in Argentina except me, I'm here in California. They all got together and gave the cash to one of them. And I was trying to find a way to send money. At the time, PayPal had to stop sending money to Argentina and wire transfers were not working because of the currency control."
That's when one of his friends suggested using bitcoin.
"I was very skeptical because this particular friend of mine is not particularly tech savvy or financially sophisticated."
(REUTERS/Ivan Alvarado)Mauricio Macri was elected president of Argentina in NovemberCasares did some research online and arranged a meeting in a Palo Alto cafe with someone he connected with on Craigslist. He gave the man cash and got some bitcoin in return. He immediately sent the bitcoin to his friend in Argentina.
"By the time I made it back to the office my friend had sold it for pesos in Argentina. I was like, 'Wow that's incredible. It's like magic.'"
Casares compared the power of bitcoin in the developing world to the cellphone.
"I think it's obvious the cellphone had a lot more impact in developing world than the developed world because most phones in the developing world are cellphones. If it weren't for cellphones the developing world would not be communicating so it really changed the lives of people in emerging markets."
That's not to say that cellphones aren't important in the developed world though. Bitcoin will be important there too, Casares said.
"It's easier to see how [bitcoin can be] transformative and it can change the lives of people in emerging markets, but it also has an important role to play in the developed world."
Watch the teaser below. You can watch the full interview bysubscribing to RealVision:
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• Coinbase introduces Bitcoin debit card
• The man everyone thinks is the creator of bitcoin gave a rare speech discussing the history of the technology
• Microsoft goes big on bitcoin || 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 || Cable & Wireless Communications Scores With Exclusive Premier League Football Rights From Seasons 2016/17 to 2018/19: MIAMI, FL--(Marketwired - Oct 7, 2015) - Starting next season, the Premier League will have a new home in the Caribbean. Cable & Wireless Communications Plc (CWC) today announced that it has won the exclusive rights to broadcast live all 380 matches per season of the Premier League across 32 Caribbean countries from 2016/17 to 2018/19. Commencing in August 2016, the Premier League will be available on the Caribbean's newest sports network -- Flow Sports . CWC was also awarded the mobile clip rights, allowing fans to follow the latest goals and action from the world's best football league on any mobile device. The extensive coverage of live Premier League matches will form the centerpiece of Flow Sports' programming schedule. The network will be launched in November 2015, with content that includes coverage of international and regional football, cricket, rugby, tennis and athletics, as well as CWC's exclusive NFL and Rio 2016 Olympics coverage. Flow Sports will broadcast across the region from a new 4-K-ready, state-of-the-art facility in Trinidad, offering 24/7 sports coverage in HD. Commenting on the exclusive rights award, John Reid, President of CWC's Consumer Division said: "We are thrilled to partner with the Premier League across the Caribbean. As the most popular league of the world's greatest sport, the Premier League will be at the heart of Flow Sports, the region's newest and largest sports network. We are excited as well to bring additional jobs, skills and investment into the Caribbean with our new Trinidad facility, truly showcasing the power of the new Cable & Wireless and our commitment to the region." CWC's market research has shown that sports programming is a key decision driver for customers purchasing TV and broadband packages. Approximately 70% of customers identify as being 'sports fans,' with the Premier League dominating sports viewing in the Caribbean. Reid added: "As the region's leading quad play operator, we look forward to bringing Caribbean sports fans closer to the action with our innovations in mobile and online viewing. With our Flow ToGo application and access to mobile clips, fans won't miss any of the excitement that truly defines this tremendous sports asset. Flow Sports will be available in our basic subscription package, meaning more games for more fans, and instantly positioning Flow as the home of sports in the Caribbean." Story continues Phil Bentley, Chief Executive of Cable & Wireless Communications said: "Following our merger with Columbus and our re-branding to Flow, the agreement with the Premier League is yet another example of the growing momentum building across the Caribbean, delivering significant additional revenue synergies through cross-selling and upselling, as well as improving customer loyalty. This is set to accelerate over the next few years." Richard Scudamore, Chief Executive of the Premier League said: "We are very pleased that Cable & Wireless Communications has chosen to invest in Premier League broadcasting rights in the Caribbean. "We look forward to welcoming them as a new partner and are sure they will do excellent job making the competition available to fans across the region." About Cable & Wireless Communications: Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity. CWC has more than 7,000 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; TV 460k and Broadband 665k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information please visit: http://www.cwc.com About the Premier League: The Barclays Premier League is the most-watched, continuous, annual sporting event in the world. Last season 13.9 million fans attended matches with record average stadium occupancy of 95.9%. Across nine months of the year, 380 matches are viewed in 185 countries with coverage available in over 725 million households. || PRESS DIGEST- New York Times business news - Nov 5: Nov 5 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.
- Expedia Inc said it had agreed to acquire HomeAway Inc for $3.9 billion, adding vacation rentals to its wide swath of online travel booking options. (http://nyti.ms/1MdPtXu)
- Facebook Inc on Wednesday posted another quarter of robust revenue growth - up 41 percent in the third quarter from a year earlier, to $4.5 billion - fueled by its mobile advertising business and an increase in daily users. (http://nyti.ms/1GMEMyi)
- A Senate committee has started an investigation into the large drug price increases by Turing Pharmaceuticals and three other companies such as Valeant Pharmaceuticals Inc, responding to public concern about escalating prices for critical medicines. (http://nyti.ms/1OpOV6D)
- After a long period of quiet, the price of the virtual currency Bitcoin is surging again as signs of interest from China and Wall Street have helped kick off a new speculative frenzy. (http://nyti.ms/1Sq3Uwa)
- The U.S. Federal Reserve could raise its benchmark interest rate in December as long as economic growth continues, two senior Fed officials said on Wednesday, hammering that message in repeated public remarks. (http://nyti.ms/1Wxp9Sq) (Compiled by Rishika Sadam in Bengaluru)
[Random Sample of Social Media Buzz (last 60 days)]
1 #bitcoin = $6895.00 MXN | $416.51 USD #BitAPeso 1 USD = 16.55MXN http://www.bitapeso.com || Bitcoin Hands-on Workshop - 21.10.2015 19:00 http://www.techism.de/events/bitcoin-hands-on-workshop-1944983/ … || #RDD / #BTC on the exchanges:
Cryptsy: Error
Bittrex: 0.00000003
Average $1.0E-5 per #reddcoin
21:00:01 || Current price: 368.34$ $BTCUSD $btc #bitcoin 2015-11-06 06:00:03 EST || $379.70 at 06:00 UTC [24h Range: $365.00 - $386.79 Volume: 29997 BTC] via #btcusdpic.twitter.com/gAGueQRkpU || LIVE: Profit = $107.92 (6.01 %). BUY B4.76 @ $380.00 (#VirCurex). SELL @ $394.01 (#HitBTC) #bitcoin #btc - … pic.twitter.com/Crlim3y7K3 || RT @efy_noviyanti pic.twitter.com/hYzcOsWosJ Pray For Indonesia Jumat 4 Des 15 18.00 GKPB BTC Lt 4 Ters Pasteur 143 Bdg 022 6126613 || LIVE: Profit = $64.39 (1.18 %). BUY B17.14 @ $317.00 (#BTCe). SELL @ $319.30 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org || One Bitcoin now worth $489.26@bitstamp. High $502.00. Low $372.53. Market Cap $ 7.241 Billion #bitcoin pic.twitter.com/at3e2uFnpH || #RDD / #BTC on the exchanges: Cryptsy: 0.00000004 Bittrex: 0.00000003 Average $1.1E-5 per #reddcoin 11:00:01 via #p…pic.twitter.com/aqvxDxW062
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Trend: up || Prices: 388.78, 395.54, 415.56, 417.56, 415.48, 451.94, 435.00, 433.76, 444.18, 465.32
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2018-07-12]
BTC Price: 6228.81, BTC RSI: 40.29
Gold Price: 1245.00, Gold RSI: 34.60
Oil Price: 70.33, Oil RSI: 49.62
[Random Sample of News (last 60 days)]
Here's Why PTC Therapeutics Is Soaring While Biogen and Ionis Struggle: What happened Shares of PTC Therapeutics (NASDAQ: PTCT) are up 24.6% at 12:40 p.m. EDT after PTC and partner Roche (NASDAQOTH: RHHBY) presented data on their spinal muscular atrophy (SMA) drug, risdiplam, at the 22nd Annual SMA Researcher Meeting. Likewise, Biogen (NASDAQ: BIIB) and Ionis Pharmaceuticals (NASDAQ: IONS) , which have the only SMA drug on the market, are feeling the heat from the promising data with shares down 5.6% and 7.3%, respectively. Doctor examining a baby's foot Image source: Getty Images. So what The 182-day update for PTC and Roche's FIREFISH study showed the treatment raised the median Children's Hospital of Philadelphia Infant Test of Neuromuscular Disorders (CHOP-INTEND) score by 14 points compared to the start of the study. The latest update is an improvement on the 12.5-point increase at day 119 and a 5.5-point jump at day 56. Just as importantly, 91% of the babies had an increase of four points or more in their CHOP-INTEND score, suggesting the drug is helping almost all the patients, at least a little. The day 119 data only comes from 11 babies, but is impressive nonetheless since this is a progressive disease. By comparison, Biogen and Ionis Pharmaceuticals' Spinraza produced at least a four-point improvement in CHOP-INTEND in 63% of the 52 babies tested at day 183. Risdiplam also has a potential advantage over Spinraza in that it can be taken orally while Spinraza has to be injected into the spine. As bad as an injection into the spine sounds, Spinraza only has to be administered four times a year, while giving medication to a baby daily could be challenging. Now what The second part of the FIREFISH study, which should be enough to gain Food and Drug Administration approval in enrolling patients. The primary endpoint of the study is measured after 12 months, so any potential competition for Biogen and Ionis is still a few years away. Nevertheless, PTC and Roche appear to have a promising drug that can compete if the data holds up in a larger data set. 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 has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Biogen and Ionis Pharmaceuticals. The Motley Fool has a disclosure policy . || 3 Dividend Stocks That Pay You Better Than ExxonMobil Does: International oil and gas behemoth ExxonMobil Corporation (NYSE: XOM) has quite a track record with dividends. Over the past 30 years, the company has increased its dividend by 629%, and in more recent years, has made it a priority to give its shareholders a raise every year. Making it even more attractive for a lot of dividend seekers is that the yield is now over 3.8% at recent prices. Unfortunately, that high yield is as much a product of a falling share price as dividend increases. Its stock price is down 21% from the five-year peak, and more recently the company reported a surprising event: Its oil production actually declined in the first quarter . And while the biggest of big oil has a plan to drive long-term growth, there are legitimate questions as to whether its best days are in the past now and if investors would be better off looking elsewhere. Whether ExxonMobil can rebound or not isn't a question we will try to answer in this space today. Instead, here are three dividend stocks with higher yields -- and what these Motley Fool investors think are better prospects -- than ExxonMobil: Bladex (NYSE: BLX) , Enbridge Inc. (USA) (NYSE: ENB) , and GlaxoSmithKline plc (ADR) (NYSE: GSK) . Two hands, one holding a red percent sign and the other holding a yellow dollar sign. Image source: Getty Images. Banking on a solid risk-reward profile Jason Hall (Bladex): Like ExxonMobil, Latin-American merchant bank Bladex hasn't made for a very good investment: BLX Chart BLX data by YCharts . To add insult to the injury of losses investors have suffered, the S&P 500 has produced 37% in total returns over the same period. That's good for some 45% in missed-out potential gains versus the stock market's average returns, even with a dividend that has consistently yielded well above 5% over that entire period. But I think there's a reasonable chance that Bladex can break out of that slump, which has been as much a product of huge economic woes in some of its biggest markets , including Venezuela and Brazil, as anything the bank itself has caused. To the contrary, Bladex management is focused intently on keeping its risks in check and not becoming overexposed to potentially bad loans simply to reach quarterly numbers. Story continues The short-term pain hasn't been much fun, with it only reporting asset growth in two of the past eight quarters. By emphasizing lending quality over quantity, Bladex is smartly avoiding the pitfalls of weak economic environments suffered by many banks. This should make for a stronger bank when its lending growth recovers, which management has a plan to spur . In the meantime, investors can buy a solid bank for a solid value at 1 times tangible book value and less than 15 times trailing earnings, while collecting a dependable dividend yield of 5.6% at recent prices. Moving energy yields more than producing it Chuck Saletta (Enbridge): Energy production and distribution are both very capital-intensive businesses. A key difference between the two, however, is that the production side of the business is very exposed to the price that the energy fetches from its consumers, while the distribution side is much less affected. That more stable cash flow enables pipeline operators like Enbridge to pay out higher distribution yields than production-focused energy companies like ExxonMobil. Indeed, Enbridge's current yield is around 6.3%, easily outpacing ExxonMobil's 3.8% yield. In addition, Enbridge was able to hike its payment by about 10% this year, continuing a trend of annual increases going back over two decades. The ability to pay out -- and regularly boost -- a significant dividend is a hallmark of a business with strong, largely predictable cash flows. One reason why Enbridge can be so confident in its cash flows is the fact that many of its contracts include "take-or-pay" provisions . Take-or-pay provisions require its customers to pay for their reservation of Enbridge's capacity, whether or not they actually use it. Since those customers have to pay for the service no matter what, it provides a high level of certainty, which helps support Enbridge's shareholder distributions. A high-yield big pharma stock George Budwell (GlaxoSmithKline): Britain's largest biopharmaceutical company GlaxoSmithKline also just so happens to offer one of the country's highest dividend yields as well. With an annualized yield of 5.4%, for example, Glaxo's dividend easily tops that of its closest British peer AstraZeneca , and even that of dividend stalwart ExxonMobil by a wide margin. Glaxo's juicy dividend yield, however, isn't exactly an accident. The company, after all, has been on a downward spiral for the better part of the last decade , leaving its top-tier dividend as one of its last backstops against a mass shareholder exodus. As proof, Glaxo's 12-month trailing payout ratio stands at a noteworthy 258%; yet management has been hesitant to touch the dividend in any shape or form presumably out of fear of shareholder reaction. The basic issue at play here is that Glaxo's pharma pipeline has been unable to offset the incoming competitive threats to its core respiratory and HIV franchises. As a result, the company's fairly new management team has decided to throttle back on pharma investment from both a research and development as well as mergers and acquisitions standpoint. Instead, they've diverted critical resources into less risky business ventures like consumer healthcare -- evinced by Glaxo's recent $13 billion acquisition of Novartis ' consumer healthcare unit. The bright side is that Glaxo doesn't seem interested in ruffling the feathers of income investors anytime soon, implying that its sky-high yield should be here to stay. The downside is that the company is arguably years away from returning to healthy levels of growth due to the current management team's inability to find suitable late- or commercial-stage pharma products to acquire. So, all in all, Glaxo comes across as an attractive income play, despite its weak near-term growth prospects. 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 Chuck Saletta owns shares of Enbridge. George Budwell owns shares of AstraZeneca. Jason Hall owns shares of Bladex. The Motley Fool owns shares of Bladex and Enbridge. The Motley Fool has a disclosure policy . || 4 Reasons I'm Thinking of Buying Momo Stock: Shares ofMomo(NASDAQ: MOMO)surged 27% last week, after the Chinese company's first-quarter numbers crushed analyst estimates. Revenue rose 64% annually to $435 million, beating estimates by nearly $39 million. Its non-GAAP net earnings jumped 57% to $0.69 per ADS -- topping expectations by $0.19. Momo also offered a rosy forecast for 51% to 55% sales growth for the second quarter.
I'vebeen waryof Momo in the past, since its sales growth was cooling off from triple-digit levels; its live video streaming unit seemed vulnerable to rivals likeYY;and it seemed prone to censorship. But in being cautious, I missed out on the stock's 80% year-to-date rally.
Image source: Getty Images.
Today, I'll take a fresh look at Momo's growth metrics and discuss four reasons I think Momo might be a great growth play at today's prices.
Momo's core app allows users to find each other via their profiles and shared locations. It's often called "China's Tinder" due to its widespread use as a dating app. However, Momo's introduction of a live video streaming platform, supported by revenue from ads and virtual gifts, was a game-changer after its introduction in early 2017.
Momo's monthly active users (MAUs) rose 21% annually to 103.3 million during the first quarter, compared to 22% growth in the fourth quarter. Paying users across its live video platform, who purchase virtual gifts and other value-added services, rose 7% annually and 2% sequentially to 4.4 million. Its total paying users, which includes its live video platformandother value-added services, rose 16% annually to 8.1 million.
Momo's paid user base still represents a small percentage of its MAUs, but it's growing at a steady rate.
In May, Momoclosed its acquisitionof rival dating app TanTan, also often dubbed "China's Tinder," in a deal worth almost $800 million. Unlike Momo's app, TanTan is clearly aTinder clonewith the same left and right-swiping mechanics as its Western counterpart. In fact, TanTan started payingMatchroyalties earlier this year after it sued the start-up over intellectual property issues.
TanTan's mobile app. Image source: Google Play.
TanTan has about 20 million MAUs, and it recently started monetizing its platform with value-added features like unlimited swipes. By absorbing TanTan, Momo can grow its MAUs while boosting its value-added services revenues to complement the growth of its live video revenue.
Last quarter, Momo's live video revenue jumped 75% annually to $371.5 million, compared to 68% growth in the fourth quarter. Its value-added services climbed 62% to $37 million, compared to 54% growth in the fourth quarter.
But looking ahead, the integration of TanTan -- which wasn't included in Momo's first-quarter results -- should significantly boost its value-added services revenue over the next few quarters.
Momo is also expanding its ecosystem with new features -- including group video chats, live audio chats, a karaoke feature, and integrations into itsWerewolfaudio-video social game.
Momo's mobile app. Image source: Google Play.
At the end of 2017, it launched a new recommendation engine aimed at boosting social interactions across its platform.
Momo claims the AI-powered algorithm lifted total interactions by 20% sequentially during the fourth quarter and another 30% during the first quarter. That increased "stickiness" should keep Momo's users locked in.
During the conference call, Momo CEO Tang Yan also stated that average user time spent on the app "showed a slight uptick" from the fourth quarter and rose 16% on a year-over-year basis.
Wall Street expects Momo's revenue and non-GAAP earnings to rise 38% and 30%, respectively, this year. Most of those estimates probably haven't been revised to include the acquisition of TanTan yet.
But at $45, Momo trades at less than 20x this year's earnings and 16x next year's figures. Those valuations seem cheap relative to those growth metrics. By comparison, Match trades at about 30x this year's earnings, while theS&P 500has a forward P/E of 17x.
I'm not pulling the trigger on Momo yet, since fears about escalating trade tensions between the U.S. and China could knock this stock down a few points. However, I'm keeping a close eye on Momo in 2018.
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Leo Sunhas no position in any of the stocks mentioned. The Motley Fool recommends Match Group and Momo. The Motley Fool has adisclosure policy. || Natural Gas Price Fundamental Daily Forecast – Move Over $3.00 Means Weather Market Has Started: Natural gas prices are trending higher early Monday as investors react to short-term forecasts for hot weather. Nearby futures prices breached the psychological $3.00 level on Friday for the first time since January but buyers still face a mountain of hedging pressure at or near $3.041, the October 2017 top.
At 0429 GMT,August natural gasis trading $3.028, up $0.013 or +0.43%.
It comes down to the duration of the current high temperature forecast. The market is likely to handle 2 to 3 days of above average temperatures, but if the weather experts start to use terms like “lingering” or “high pressure dome” then we could see a huge breakout to the upside over $3.041.
At this time, it’s best to look at the monthly chart because it shows the formation of a long support base as this chart pattern is usually indicative of impending volatility.
The major range is $4.600 to $2.480. If buyers can take out $3.041 with conviction then this could create the upside momentum needed to carry August natural gas to its retracement zone at $3.540 to $3.790.
The fundamentals are stacked on the side of the bulls. We have a supply deficit and increasing demand due to the hot weather. Now the bulls have to come in with enough volume on a breakout over $3.041 to take out buy stops and any hedging pressure that shows up.
As I said earlier, everyone knows it’s how outside and that it’s going to be hot in key demand areas for several days. NatGasWeather.com is saying that we could see strong demand until Tuesday then milder temperatures into the weekend. If they extend the forecast for hot temperatures beyond Tuesday then prices could surge to the upside. At this point, prices could continue to rise until cooler temps are put into the forecast.
Since we are in a weather market with a strong bias to the upside, watch for heightened volatility and pay attention to the forecasts because the rally could turn on a dime.
Thisarticlewas originally posted on FX Empire
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• Bitcoin and Ethereum Price Forecast – BTC Prices in Range || How to Slow Down a Startup: Erik Voorhees’ Hard Lesson: How to Slow Down a Startup: Erik Voorhees’ Hard Lesson BTC Media's Let’s Talk Bitcoin Network has added a new show to its lineup, “ What Bitcoin Did .” The WBD podcast is hosted by U.K.-based Peter McCormack, an “accidental Bitcoin and Cryptocurrency investor, miner, blogger and podcaster.” His show, an industry interview program, follows important figures and developments in and around the crypto space. What’s the next level beyond being a cryptocurrency investor? That would be achieving the status of bitcoin entrepreneur. Imagine not only profiting from your trades but being the one who built the exchange you executed it on; created the portfolio platform for your digital asset holdings; designed a comprehensive bitcoin banking platform; acquired a cryptocurrency hardware wallet manufacturer; and/or were among the first to see your bitcoin business acquired for a significant sum. Those moves aren’t an imagined scenario. They’re the real-life portfolio highlights of Erik Voorhees , reflecting his involvement with ShapeShift.io , Prism , Coinapult , KeepKey and SatoshiDice respectively. He’s been accumulating these credentials since 2012, when he launched SatoshiDice, the well-known gambling website that proved to be the first of Voorhees’ many wagers on crypto’s future. Voorhees went in-depth on those bets, and the reasons why they’re no sure thing, in a candid interview with Peter McCormack on Episode 22 of his podcast series What Bitcoin Did , which marks the latest addition to the Let’s Talk Bitcoin network. The conversation that resulted from their London meetup was equal parts engaging and sobering, offering a painful reminder of why many new crypto services may face a complicated rollout before they can take off, particularly in the U.S. Oversight Overdose Voorhees’ markedly libertarian leanings have driven him to innovate within the bitcoin vertical. But in the process of building out businesses like ShapeShift, he’s relearned why he believes that the government’s role in key areas like money, education and healthcare is best minimized: what he sees as regulatory overreach by entities such as the U.S. Securities and Exchange Commission (SEC) is stifling new crypto businesses. Story continues Voorhees speaks from his own personal experience of trying to expand ShapeShift. “At this point we’re about 100 people, and all through 2017 we were just trying to grow,” he relates. “2018, unfortunately, has largely been trying to navigate regulatory issues because we’ve gotten big, and because the industry has gotten bigger, and trying to figure out how to grow something in a legal gray area is tricky. We’ve spent a lot of resources and time both on regulatory matters with SEC-style stuff, as well as transaction monitoring and other questions, which many governments have strong feelings about. Frankly, it’s all been very depressing.” Discussing the varying scrutiny of KYC (Know Your Client) practices from country to country as an example, Voorhees notes that, although every jurisdiction is different, there’s one that stands out for having the most complications. “It’s always the U.S.,” he tells McCormack. “The U.S. is the biggest pain in the ass for any crypto business, I think. That’s why a lot of companies block the U.S. entirely. Suffice to say that each regulator in the U.S. … all claim jurisdiction on various things. Because crypto blurs so many lines, you end up in a situation where a lot of regulations either don’t apply, or do apply, and you don’t know which it is and it gets into this big tangled mess. For example, we haven’t added any new coins to the platform in six months, and this is all due to SEC crap. The SEC has been very unclear about which tokens are securities and which are not.” The result, according to Voorhees, is an environment where banks around the world won’t take on U.S.-based customers because the reporting requirements and regulatory risk are simply too onerous. “Most Americans are just getting ring-fenced into a financial system from which they will not be able to escape,” he states. “Crypto is really the only answer.” Crypto Caution For any successful crypto investor who dreams of being bitcoin’s next Bill Gates, ShapeShift’s tough experiences illuminate a sobering reality: If even Erik Voorhees is being slowed by an uncertain regulatory environment, how will others fare? This question introduces additional risk to what’s already a risky proposition, no matter what the industry, namely launching a new startup. Voorhees’ trials and tribulations with ShapeShift show how the waters of crypto entrepreneurship remain largely uncharted. Not only are there zero guarantees, but many of the rules are yet to be clearly written, especially for one of the world’s largest markets. Then again, maybe that’s why the spoils of today’s crypto industries are earmarked for those with a special type of tenacity. “If the question is, ‘Does the business have to be destroyed, or do we have to become more conservative?’ I wouldn’t necessarily destroy everything,” Voorhees says, “but it’s a fight I won’t give up. If we have to give in one area, we will fight more strongly in another.” This article originally appeared on Bitcoin Magazine . || A dangerous dot-com era phenomenon is back and it's going to inflict pain, Jim Paulsen warns: A new research note warns that too many investors are stuck in a losing trade reminiscent of the dot-com era.
The Leuthold Group's Jim Paulsen is behind the ominous call.
"More and more of the leadership stocks have been the more aggressive, high beta stocks and a lot of the defensive names have been left for dead. They've diminished as far as their size of the overall [S&P 500] index," the firm's chief investment strategist said Monday on CNBC's " Trading Nation ."
Paulsen hasn't seen that phenomenon since the late 1999s when excitement surrounding dot-com stocks hit a fever pitch.
"I don't think it is nearly as severe as it was back then, but the culture is the same. The character is the same where everyone is going into the same, very narrow number of popular names," he said. "Really nobody is investing new moneys into the rest of the S&P."
He included a chart that shows a sharp decline in the number of people investing in S&P 500 defensive names since the bull market began in 2009 — noting that defensiveness is at a record low.
According to Paulsen, many investors are too exposed to trendy areas of the market such as big tech FANG, otherwise known as Facebook FB , Amazon AMZN , Netflix NFLX and Google parent Alphabet. GOOGL
"You wonder if we do hit an air pocket, if we would break below those February lows sometime this year, who do you think is going to sell? It's probably going to be those popular names because that's all anyone has recently bought," he said.
Paulsen, who estimates there's a 50-50 chance see a 15 percent sell-off this year, is urging investors who are overweight big tech to take some profits.
"Maybe to pat yourself on the back, congratulate yourself for a great investment," Paulsen said. "Maybe buy a beat-up consumer staple or utility here or pharma stock today that no one is taking a look at, but sells at a much better value."
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• 4 macro-economic factors of fundamental analysis || Wall Street’s ‘Crypto King’ Says Regulatory Clarity Will Jump-start Institutional Investments: wall street bitcoin Bart Smith, who was crowned “Wall Street’s Crypto King” by CNBC, is optimistic that institutional investors will start pouring money into the cryptocurrency market once more regulatory clarity is provided. Smith heads the digital asset group at Pennsylvania-based investment firm Susquehanna International Group, which first experimented with bitcoin trading in 2014. Since then, the privately-held company has launched a crypto trading desk manned by a dozen traders who buy and sell millions of dollars in bitcoin and other cryptocurrencies every day. “We have a dedicated team of traders and technologists,” he told CNBC. “We’ve been trading bitcoin primarily, but in 2017 as the marketplace expanded, we expanded the number of coins we were trading and the number of exchanges we were providing liquidity on.” Smith added: “We are trading on average a couple hundred million dollars a day [on bitcoin futures] across CME and CFE combined that’s not retail.” More Or Less Regulation Is Not the Issue Smith says cryptocurrency evangelists shouldn’t focus so much on whether or not there should be regulation, but moreso on the importance of regulatory clarity. “There’s a big debate going on about whether there should be more or less [crypto] regulation. From our standpoint, it’s really about regulatory clarity,” Smith noted. “There has been a tremendous amount of focus on the SEC and Chairman Clayton’s comments. But it’s really a whole host of other regulatory agencies out there, because the ecosystem expands beyond the traditional financial assets.” Wall Street has a new crypto king, and here's what he said about the business of #Bitcoin $BTC pic.twitter.com/AJ09IFfiTE — CNBC's Fast Money (@CNBCFastMoney) June 6, 2018 Smith underscored: Story continues “[Regulatory] clarity will allow institutions to come in more than anything else because institutions don’t like to invest into uncertainty. So we’re just taking the most conservative approach that we can.” ‘We’ve Been Advocating For a Bitcoin ETF’ Smith said that Susquehanna is bullish on bitcoin ETFs — exchange-traded funds that provide retail investors with exposure to bitcoin’s price movements without custodial risk — because he believes they are an ideal vehicle for investing in virtual currencies. “We’ve been advocating for an ETF,” he said. “We think it checks lot of the boxes for regulatory concerns, specifically as it relates to retail investors. And it checks a lot of boxes for institutional customers as far as custody and taxation and anti-money laundering and know-your-client [issues].” Smith said if crypto bulls want to make bitcoin ETFs happen, they must ensure they meet regulatory muster as outlined by SEC chairman Jay Clayton. “Chairman Clayon has made his concerns very clear, and it’s up to us in the ecosystem to address those concerns,” he said. When asked if there’s a correlation between the stock markets and the crypto space, Smith said he doesn’t think so, despite reports that have shown a correlation between their movements. “We have not seen much correlation at all between the equity and bitcoin markets,” Smith said. “Trading cryptocurrencies is way more analogous to other asset classes than you might think from a market maker’s perspective, managing risk and the operational sides of it. But as far as the investor demand for it, and what drives bitcoin and other cryptocurrencies, we have yet to find much analogy in the driver of it.” Smith said that what drives bitcoin prices differs from what moves the equity markets because crypto is not an institutionally-driven marketplace like the S&P 500. As for bitcoin’s wild price swings, Smith said BTC is trading solidly in the range of $6,000 to $9,000 — at least for now. Looking ahead, Smith is exceedingly confident in the future of crypto, as CCN has reported. “We believe that this technology and this asset class is going to change some facet of financial services, and we think it is going to exist forever,” he said. Featured Image from Shutterstock The post Wall Street’s ‘Crypto King’ Says Regulatory Clarity Will Jump-start Institutional Investments appeared first on CCN . || The New York Times Alerts Investors About Its Big TV and Film Plans: The New York Times(NYSE: NYT)made a point of alerting investors in its latest earnings call that it would be shifting its attention to some big TV and film projects this year.
The New York Times' first break into the entertainment world came in February 2017 when it released the well-received podcastTheDaily, which gives listeners a short 20-minute update on important daily news. The company is now confident that it can create TV and film offerings that will be received as well as the podcast, which boasts 4.5 million unique listeners each month.
Arthur Sulzberger, Jr. and A. G. Sulzberger are pushing The New York Times into TV as a way to make money outside of subscription fees. Image source: The New York Times.
The NYT's first film project debuted in May as an independent Showtime documentary that explores the newsroom's coverage of Trump's first year in office. This is a way for the company to continue building off the extra attention placed on quality journalism following the 2016 election as people raced to sign up for what they considered reputable papers to avoid "fake news." In fact, the New York Times added 139,000 digital subscribers in the latest quarter, compared with 348,000 a year earlier when the election was fresh on everyone's minds and the company was offering heavy discounts.
The second project is a big-time feature film that will tell the tale of how theNYTbroke the Harvey Weinstein story that came out in the fall of 2017. This film comes after the success ofSpotlightthat told the story ofTheBoston Globeexposing the allegations of abuse in the Catholic Church. It also comes afterThe Washington Postwas the subject of the 2017 Oscar-nominated filmThe Postthat showed how the team raced against theNew York Timesto expose the cover-up of government secrets.
Both films were a box office success, withThe Postbringing in $175 million worldwide andSpotlightbringing in $88 million. The attention received byThe Postwas proof that the renewed interest in journalism following the election has stuck around. The film was able to attract a number of big names, including Meryl Streep and Tom Hanks as the leads and Steven Spielberg as the director. This all bodes well for the NYT Weinstein film, especially considering the global attention the story received and the big changes it sparked in Hollywood.
Lastly, the NYT team is also working on its own TV offering that it says will act as a video version ofTheDailypodcast. The show is calledThe Weeklyand will give viewers a behind-the-scenes look at how its reporters chase down their stories each week. FX landed the first-run North American rights to the program, while Hulu will have exclusive streaming rights to the program the day after the episodes air.
The New York Times isn't entering the new world of TV and film alone. The company recently announced a partnership with Anonymous Content, which is helping the company with bothThe Weeklyand the Weinstein film. The partnership shows how serious the company is about its TV and film ambitions. The Times said it intends to aggressively pursue the creation of extended programs that people tend to form watching habits around because that's how you build a loyal audience.
The overarching goal of the New York Times with these new projects is to expand its audience by getting its journalism in front of more eyes which will, in turn, boost its top line.
For example, some people may not read theTimes, but they might take a trip to the movie theater to see the Weinstein film that features some big-name actors. That's money into the company's pockets. And as a bonus, the film may then inspire them to listen to one of its podcasts or to visit the website for more information about the Weinstein story.
The company developed this strategy after watching the unexpected success ofThe Daily, which was downloaded more than 200 million times in under a year. On the earnings call, COO Meredith Levien said that the podcast has become a new revenue stream for the company, plus it's led to more people spending time on the company's website. That's because the podcast's listeners are often interested in learning more about what's discussed on the daily show, she said.
The company's latest quarterly revenue figure hit $413.9 million, up from $398 million. And although the company added fewer digital subscribers in this quarter than in the same quarter last year, its digital subscription revenue still rose 25.8% to $95.4 million. That's due to cutting back on discounts.
In other words, The New York Times is in a solid position a full year after the election gave it a particularly high boost in subscribers. And it's clearly just had a lightbulb moment with the success ofTheDailyas it realizes that it has the potential to grow a full-fledged media ecosystem to drive revenue.
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Natalie Waltershas no position in any of the stocks mentioned. The Motley Fool recommends The New York Times. The Motley Fool has adisclosure policy. || 3 Sustainable Water Stocks for Your Portfolio: Why invest in sustainable water stocks? If you thought the answer was about emerging market demand for water for personal, commercial, and industrial use, you'd only be partly right. Water is also extensively used in agriculture, and the overwhelming majority of global power generation is water-intensive.
Given the need for food and energy in order to support booming population growth in emerging markets, there'll be a need for significant investment in sustainable water solutions. It's a compelling long-term investment case, and I thinkDanaher Corporation(NYSE: DHR),Xylem Inc.(NYSE: XYL)andPentair plc(NYSE: PNR)are stocks well-placed to play the investment theme. One of the interesting things about water is that there's no lack of it or difficulty in finding it; the problem is ensuring its quality (for both potable water and wastewater) and transporting it to the right places. This means there's likely to be good long-term demand for companies serving the market.
Here's how you can make money from it.
As the global population grows, there will be increased demand for water-treatment works. Image source: Getty Images.
Danaher Corporation's exposure to sustainable water comes through its environmental and applied solutions businesses ChemTreat (industrial water treatment), Hach (water quality testing), McCrometer (flow meters), and Trojan Technologies (ultraviolet disinfection of water and wastewater); these businesses were responsible for slightly more than 30% of total company operating profit in 2017. In total, water quality is responsible for around 15% of Danaher's operating profit, and is also its highest-margin business (above 25% adjustedEBITDAmargin in 2017.
Danaher's management believes that increasing regulatory requirements will drive growth at Hach and Trojan, while increasing industrialization in emerging markets will also increase demand for Trojan and ChemTreat solutions. In a nutshell, Danaher's environmental and applied solutions division is set for long-term growth. When you consider that its other segments -- dental, diagnostics, and life sciences -- also have defensive growth characteristics, then the stock starts to look like avery attractive blend of safety and growth.
Xylem operates in three segments. Water infrastructure ($2 billion in revenue in 2017) provides water and wastewater equipment technologies. Applied water ($1.4 billion) provides commercial and industrial water technologies. But the company's smallest segment, measurement and control solutions ($1.3 billion), is arguably its most exciting.
Given the scarcity of water in certain areas of the world, it's critically important for public utilities and industrial companies to ensure they're efficiently using water, and monitoring the efficiency of their existing infrastructure. That's where Xylem's measurement and controls solutions come in, and the $1.7 billion acquisition of Sensus (smart meters, network technology, and data analytics) in 2016 is helping boost Xylem's growth rate. Indeed, management expects the segment to grow organically by 7% to 8% in 2018, compared to an overall company rate of 4% to 6%.
In fact, Xylem's growth is surpassing its own expectations. Back in 2015 when management gave its targets for 2015-2020 growth, it expected 3% to 5% organic revenue growth, with operating margin expanding to 16% to 17%, and EPS growth of 8% to 12%. Fast-forward to 2017: Management now expects 4% to 6% revenue growth, 17% to 18% operating margin, and EPS growth in the mid-teens.
As long as public utilities (47% of Xylem's revenue) in developed and emerging economies are spending on water and wastewater projects, then Xylem has a bright long-term future. Throw in the near-term catalyst of improving global industrial production in 2018 (36% of revenue), and Xylem has the potential to surprise on the upside in the near and long term.
In common with many other industrial companies, like Danaher, Pentair has been taking action to become a more focused investment proposition for investors. The sale of its valves and controls business toEmerson Electric(NYSE: EMR)in the spring of 2017 turned out to bewell-timed for Emerson, as it occurred precisely at the time when oil and gas capital spending started picking up.
Moreover, it allowed Pentair to continue to exit the industry, and one year later Pentair split into two companies. The newly listednVent Electric(NYSE: NVT)will be focused on electrical solutions, while the remaining Pentair will contain water pumps, filtration, and desalination solutions.
The new Pentair differs from, say utility- and industrially focused Xylem, in that 80% of its revenue comes from residential and commercial end markets. As such it's more focused on conditions in housing and construction than the other two companies. Indeed, management's focuses for the new company are to increase sales of its pool-related solutions, and increase penetration of filtration in commercial and residential markets, while also expanding in emerging markets like China and Southeast Asia.
XYL EV to EBITDA (Forward)data byYCharts
Danaher offers water exposure, but it's more of a life science and diagnostics play. Pentair is a pure play on water, but its heavy exposure to construction end markets means you need to be confident about global construction markets. If you're looking for a pure play on water, with a focus on public utilities investing in infrastructure, then Xylem is the best-placed of the three.
Moreover, as you can see in the chart above, Xylem is the cheapest stock on a forwardEV/EBITDAbasis and given its stronger earnings growth profile (mid-single-digit revenue growth combined with strong margin expansion and mid-teens EPS growth) over the next few years it's the best way to play the theme, in my view.
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Lee Samahahas 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. || Riot Blockchain's 10-Q Sheds Light On Crypto Mining Operation: Riot Blockchain Inc (NASDAQ: RIOT ) quietly filed a 10-Q quarterly financial report on Thursday evening without issuing a press release or holding a conference call for investors. The filing provided some helpful insight into Riot's cryptocurrency mining business, according to H.C. Wainwright. The Analyst Analyst Kevin Dede reiterated a Buy rating on Riot Blockchain and raised the price target from $9 to $10. The Thesis Riot reported first-quarter mining revenue of $900,000, up from $200,000 in the fourth quarter, Dede said in a Friday note. The company said it plans to have 8,000 mining machines operational by the end of May. Riot’s March quarter revenue fell short of H.C. Wainwright’s estimate, but Dede said the company could make up the difference later in the year. Riot’s mining-focused business could simply be a stepping stone to the next stage of its long-term plan, he said. “Riot's long game entails building a digital currency exchange that operates independently but in harmony with household name, web-based, retail-focused brokerage systems, and the operations of a public company in good standing and concomitant oversight brings a cachet that differentiates from other privately held exchanges." While Riot’s cryptocurrency exchange may still be in the early planning stages, Dede said the company recently inked a deal with Coinsquare and purchased a Commodity Futures Trading Commission-registered brokerage firm. The cryptocurrency exchange could ultimately trump the mining business as Riot’s primary source of revenue, the analyst said. Price Action Riot stock was down 7.36 percent at the time of publication Friday, but shares have soared more than 30 percent in the past five days. Related Links: Despite Riot Blockchain's Risks, HC Wainwright Emerges As A Bull Today In Cryptocurrency: Jack Dorsey Endorses Bitcoin, WSJ Finds Signs Of Crypto Fraud Everywhere Photo courtesy of Riot Blockchain. Latest Ratings for RIOT May 2018 H.C. Wainwright Initiates Coverage On Buy View More Analyst Ratings for RIOT View the Latest Analyst Ratings Story continues See more from Benzinga Today In Cryptocurrency: Riot Blockchain Subpoenaed, Bitcoin Cash Takes Off © 2018 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
The latest #Investor's #News Daily! https://paper.li/JJ_Hart/1377197411?edition_id=a9fae490-667c-11e8-a3b3-0cc47a0d164b … #bitcoin #blockchain || So many games to play... get them on G2A for cheaper and you can pay using bitcoin woop woop!
#gaming #gamecodes #Xbox #Bitcoin #BTC #GamersUnite #cryptocurrency
#crypto
https://www.g2a.com/r/user-5995663575c93 … || Apples Memoji lets you create an Animoji of yourself #bitcoin #btc https://www.theverge.com/2018/6/4/17426092/animoji-update-memoji-announced-apple-wwdc-2018 …pic.twitter.com/p8ddNTCM1P || While crypto market hopefully recovers soon, traders need to realize there are some very good crypto blockchain stocks that have been profitable trades in traditional stock market.
#bitcoin #cryptocurrency
Check out TI's Crypto Channel Stock Scans at http://ow.ly/UFPI30k4u5Z pic.twitter.com/OeorZlnwHg || Who says? On what time scale? I bought gold at $300 and Bitcoin at $150. Not feeling too wrong. Both have outperformed the stock market and your fiat. So who is wrong ASSHOLE! || Jun 30, 2018 19:30:00 UTC | 6,322.50$ | 5,403.20€ | 4,787.50£ | #Bitcoin #btc pic.twitter.com/jTFimYzJ5j || 06-11 06:00(GMT)
#SPINDLE price
$SPD (BTC)
Yobit :0.00000277
HitBTC :0.00000232
LiveCoin:0.00000232
$SPD (JPY)
Yobit :2.07
HitBTC :1.73
LiveCoin:1.73 || Steve Wozniak: Bitcoin Is ‘The Only Digital Gold’ http://www.cryptorush.asia/steve-wozniak-bitcoin-is-the-only-digital-gold/ …pic.twitter.com/nfkRI8f9NT || IBM Is A Better Long-Term Investment Than Bitcoin https://ift.tt/2sHhaHh || Bitcoinの現金価格分析：BCH USDの重大な抵抗に直面 暗号通貨アンテナ http://bitme.site/posts/94260
|
Trend: up || Prices: 6238.05, 6276.12, 6359.64, 6741.75, 7321.04, 7370.78, 7466.86, 7354.13, 7419.29, 7418.49
|
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 2021-08-02]
BTC Price: 39201.95, BTC RSI: 60.45
Gold Price: 1818.10, Gold RSI: 53.46
Oil Price: 71.26, Oil RSI: 48.14
[Random Sample of News (last 60 days)]
Market Indexes Stay Mixed, Chipmakers Sell Off: We saw plenty of economic data, heard from Fed Chair Powell again, and got more Q2 earnings reports over the course of this trading day, but not much has changed from closing bell to closing bell: the Nasdaq now has a three-day losing streak, albeit by a grand total of 1.3%; the Dow is up three straight days for a whopping total of +0.3%, while the S&P 500 is still relatively flat. The Russell 2000 is down 4.15% since Monday’s close.The Dow had begun the regular trading session falling 150 points before recovering by lunchtime, only to head back lower but not test daily bottom levels, then closed up moderately. The S&P, Nasdaq and Russell all took that same early afternoon slide and were unable to recover gains by the close. Chip maker stocks led markets lower, with stalwartNVIDIA NVDAgiving up 4.4% on the day.NVIDIA shares are up 44.6% year to date and +87% from this time a year ago. The inventor and market leader of programmable graphics processing units (GPU), trading at nearly $828 per share just a week ago, has been subjected to scrutiny of late. This is liable to happen with any company trading at over 40x earnings, and with GPU-heavy Bitcoin having fallen more than 21% in the past month.That said, Zacks still carries a #1 rank (Strong Buy) on NVIDIA shares. For an in-depth discussion on this most recent “tech bubble,” check out Zacks Strategist Kevin Cook’s latest on the subject: Tech Bubble 2.0 + Inflation Tsunami: How to Play Them NowFollowing Jay Powell’s testimony before House representatives yesterday, he took his tour to the Senate Banking Committee today, again sounding the notes of the Great Reopening having created a “shock to the system” of the economy. This is the main reason his view on inflation continues to be “transitory,” even as a growing number of analysts see inflation being a lot stickier.However, going by Powell’s track record since maneuvering Fed policy to accommodate challenges at the very start of the Covid-19 pandemic is quite solid. When many analysts were convinced earlier this year that the Great Reopening was going to surge our economy into the stratosphere and that he needed to act immediately to counteract the effects, Powell’s patience has proven to keep the U.S. economy in a healthy state.Whether or not Powell and the Fed voting members act quickly enough to curb longer-term inflation is very much still an open question. But the 10-year bond yield looks to be in no hurry to go anywhere, still at 1.31% today. As second-guessing the Fed Chair becomes something of a cottage industry among market participants, Powell’s steady hand is thus far a reliable commodity of sorts.Tomorrow morning, as Q2 earnings reports continue to file in,Retail Salesfor June become the economic metric worth paying attention to. Expectations are for a drop of -0.4% on the headline, though this reverses when carving out volatile auto sales to +0.4%. If it bears out, this would illustrate supply disruptions hitting the auto industry — similarly to what we saw with homebuilding input prices a month or two ago — that might be worth looking into further.Questions or comments about this article and/or its author? Click 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 reportNVIDIA Corporation (NVDA) : Free Stock Analysis ReportInvesco QQQ (QQQ): ETF Research ReportsSPDR S&P 500 ETF (SPY): ETF Research ReportsSPDR Dow Jones Industrial Average ETF (DIA): 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 || Ripple Proposes Adding Federated Sidechains: Ripple Chief Technology Officer David Schwartz proposed introducing federated sidechains to enable implementation of smart contracts adjacent to the XRP Ledger.
• Ripple has resisted smart-contract capabilities because of the risk of compromising the focus on payments, Schwartzwrotein a blog post Monday.
• Demand, however, has increased with the growth of decentralized finance (DeFi).
• Federated sidechains for the XRP Ledger would enable developers to implement native smart contracts that interact withXRPand the XRP Ledger, while keeping the ledger “lean and efficient,” Schwartz said.
• They would allow for more specialized projects to be built using Ripple’s functionality without compromising the security or efficiency of the ledger because they would be built on sidechains acting as their own blockchains.
• Ethereum and XRP Looking More Attractive as Investors Rush to Exit Bitcoin Funds
• Ripple Files Motion Requesting SEC Hand Over Documents Related to Ongoing Complaint
• Ex-Head of China’s Digital Yuan Effort Says CBDCs Could Operate on Ethereum
• DocuSign to Acquire ‘Smart Agreement’ Firm Clause || Gold Versus Bitcoin: Which Is the Better Investment for You?: As inflationary pressures rise, investors worry the value of their money will diminish. Holding gold in your portfolio might be one way to invest to protect your purchasing power, but there is an alternative asset class that has taken off in popularity within recent years: cryptocurrency. As institutional and retail investors alike pile into Bitcoin, you might be debating whether this new digital asset has a place in your investment portfolio or if you should stick with something traditional like gold . Here's what you need to know about both assets: -- Gold as a safe-haven asset. -- Is Bitcoin the digital gold? -- Should you invest in gold or Bitcoin? [ Sign up for stock news with our Invested newsletter. ] Gold, the Safe-Haven Asset Gold has been around for centuries. People value gold because it's a source of security that has been tested over time, while Bitcoin hasn't been around during a major financial crisis like the Great Recession. Gold is a well-regarded asset, widely used by investment professionals. "Central banks, major governmental institutions, pension funds and astute family offices will always have an allocation to gold," says Edward Karr, founder at U.S. Gold Corp. (ticker: USAU ). Some investors like to think of gold as insurance for their money. If there is a concern about a nation's currency, or if there's an economic collapse, people usually flock to gold because it benefits in times of crisis. "For gold, it has over 5,000 years of history on its side and isn't going anywhere, which means it is super safe," says John Carter, CEO and founder of Simpler Trading. While gold prices have experienced volatility similar to stocks in the short term, over time, the precious metal's value has remained stable. Since we're living during a time with a lot of market volatility, it can make sense to have a portion of your portfolio allocated toward gold. Gold prices can benefit from inflation, which makes it a great inflation hedge. When prices rise, the value of fiat currencies decreases and gold's value rises because investors put their money into the precious metal to protect their purchasing power. Story continues But since gold doesn't pay interest or dividends , some may wonder if the commodity is worth the investment. "Gold does not provide any sort of recurring income compared to other asset classes like real estate (income from rental properties) or stocks (income from dividends)," says Ricardo Pina, founder and CEO at The Modest Wallet. There are other downsides to consider. "Costs of storing large quantities of the precious metal can be quite high, low liquidity creates large spreads and in some cases, it can be hard to verify the purity and legitimacy of the gold source," Pina says. While this may be seen as a disadvantage, "the point of gold isn't income," Carter says. "It is to preserve wealth during times of uncertainty." Ultimately, experts say if you're looking for a safe-haven asset that is negatively correlated to other assets, gold has an important role in the stability of your portfolio as a "buy and hold" investment. It also acts as a diversifier, inflation hedge and capital preserver. All of these benefits can result in positive returns over time. There are several ways to purchase gold. Investors have the option of buying physical gold bullion or gold coins, which usually have a higher barrier of entry, or you can purchase gold equities or exchange-traded funds . [ READ: 3 Best Investments for Inflation. ] Bitcoin, Digital Gold? Bitcoin is the world's largest cryptocurrency by market capitalization. Unlike the stock market, which is open for trading during the week from 9:30 a.m. to 4 p.m. EST, the cryptocurrency markets allow users to trade Bitcoin and other digital assets 24 hours a day, seven days a week. One of the key features of Bitcoin is that it has a fixed supply, which means there will only ever be a maximum of 21 million Bitcoins in circulation. Given the fixed volume of the asset, if there is continued demand for the cryptocurrency, the value of Bitcoin will theoretically increase -- but there is still no guarantee for that. "Similar to gold and other precious metals, Bitcoin derives much of its value from its limited supply and growing consumer demand," says Edmund McCormack, founder and CEO at Dchained. That said, the reality is that Bitcoin prices have experienced extreme volatility. Within the past month alone, Bitcoin's price has fallen from nearly $60,000 in the beginning of May to about $32,000 in early June. Furthermore, Bitcoin hasn't been widely adopted yet, which has investors wondering what degree digital currencies will be accepted in the future. As a result, there is speculation about where Bitcoin's price is going. "Bitcoin has been a tremendous speculative asset and its long-term correlation to other portfolio asset classes still needs more time to work out due to Bitcoin's high volatility," Karr says, noting the cryptocurrency is an emerging asset class that's only about 12 years old. Given Bitcoin's short time in the market, the asset doesn't have a long performance track record as gold does. As a volatile and risky asset, Bitcoin's massive price swings may be difficult for the everyday investor to take. This volatility stems from a range of events, from China's crackdown on cryptocurrencies to Elon Musk's tweets on the digital asset. Despite these setbacks, experts say Bitcoin could play an important role in your portfolio. "Coupled with its low correlation against gold and the U.S. dollar, Bitcoin creates an opportunity to add further diversification and upside exposure in today's market," McCormack says. Another popular feature of Bitcoin is the blockchain technology that powers it. This revolutionary technology is changing the way we transact with one another. Blockchain acts as an intermediary of monetary exchange between individuals, eliminating the middleman like banks and other financial institutions and empowering a decentralized market. For investors intrigued by this new asset class, its decentralization and transformative technology, you can join crypto exchanges like Coinbase ( COIN ), Binance, Cash App and others to invest in Bitcoin. [ SEE: 8 Things to Know Before You Invest in Gold. ] Should You Invest in Gold or Bitcoin? As we move toward a cashless society and digital currencies become more prevalent, it's reasonable to consider whether a new asset class like Bitcoin is worth investing in. "I'd personally prefer to use Bitcoin as opposed to gold in my portfolio as Bitcoin is truly decentralized, there is a finite supply and I can use Bitcoin to transact with anyone from anywhere in the world," Pina says. But it's also important to consider the proven merits of gold. Because gold is more of a price-stable asset, you don't need to transact with it unless you decide to change your investment strategy. Bitcoin, on the other hand, may require a different investment approach. Since Bitcoin is a volatile asset, investors may want to have an entry and exit strategy if the price fluctuations become a risk. In the case where the value of Bitcoin moves to your advantage, investors will also need to decide when and if to take some profits. If you're wondering which asset to choose, gold or Bitcoin, Carter says it depends on your investment goals. The case for Bitcoin is speculative given that it doesn't have much utility yet. "For safety and wealth preservation, gold. For speculation, Bitcoin. I think it makes sense to buy both, and for an aggressive allocation I would go 50% Bitcoin and 50% gold," Carter says. || Coinbase's (NASDAQ:COIN) Share Price Still Implies an Optimistic Outlook After 50% Decline: This article was originally published on Simply Wall St News Shares of Coinbase Global, Inc. ( NASDAQ:COIN ) have trended lower ever since the company’s IPO in April this year. This isn’t surprising as the prices of Bitcoin and most other cryptocurrencies have also trended lower since April. It seems that the share price is being driven by sentiment rather than fundamentals, which often leads to a stock becoming either over or undervalued. By comparing Coinbase’s PE ratio to the market and industry we can get a sense of how optimistic the market is. We can then look at the outlook for the company to get an idea of whether or not there may be an investment opportunity. Coinbase earns most of its revenue from transaction fees from cryptocurrency trading. This means its revenue depends on both the prices and trading volumes of crypto assets. Trading volumes and crypto prices are both falling which is bad news for Coinbase. But it’s not all bad news if Coinbase can grow revenue despite the lower crypto prices. The company’s CEO, Brian Armstrong, recently indicated that the exchange plans to list every legal crypto asset. This will give it a competitive advantage versus PayPal and Square, which are limiting their crypto wallets to Bitcoin and possibly Ethereum. Square in particular has become a very popular platform for investing in Bitcoin. What does Coinbase’s PE ratio indicate? Coinbase is currently trading on a PE of 38.6. This is more than twice the broader equity market’s PE of 18.6 and nearly three times the PE of the US Capital Markets industry which is 13.9. This implies that that market still expects Coinbase to grow its earnings at a much higher rate than both its industry and the broader market. View our latest analysis for Coinbase Global pe NasdaqGS:COIN Price Based on Past Earnings July 20th 2021 Is There Enough Growth for Coinbase Global? Coinbase Global's P/E ratio would be typical for a company that's expected to deliver very strong growth, and importantly, perform much better than the market. Story continues If we look at Coinbase's historical and expected EPS growth, we can make two observations. Firstly, earnings growth is expected to slow dramatically in the next six months and earnings are forecast to fall next year. Secondly, there is a very wide gap between the highest and lowest forecast, even for December which is just five months away. This indicates that there is very little certainty about earnings, which isn’t surprising given the volatility of crypto assets. NasdaqGS:COIN Earnings per Share Growth Forecasts What Can We Learn From Coinbase Global's P/E? We'd say the price-to-earnings ratio's power isn't primarily as a valuation instrument but rather to gauge current investor sentiment and future expectations. You can also see an estimate of the fair value based on analyst forecasts here, but as mentioned these estimates have a very wide range. The high PE ratio for Coinbase does suggest the market is still very optimistic when we compare it to growth forecasts. Of course, if crypto prices rise again those forecasts will rise - and if crypto prices fall further, forecasts will fall. We have also identified 2 other warning signs for Coinbase Global that you may want to be aware of. We would suggest checking Coinbase’s quarterly earnings releases to see if the company's revenue is falling at a slower rate than crypto prices are falling. This would indicate that Coinbase is growing its customer base or that trading volumes are rising. The stock may well continue to trade based on sentiment surrounding crypto prices, with little regard to fundamentals. Remember though, if earnings fall and the stock price rises or remains around $220, the PE will rise even more. This will imply even more growth is needed to justify the valuation, and there will be more risk for investors. If P/E ratios interest you , you may wish to see this free collection of other companies that have grown earnings strongly and trade on P/E's below 20x. Simply Wall St analyst Richard Bowman and Simply Wall St have no position in any of the companies mentioned . This article is general in nature. It does not constitute a recommendation to buy or sell any stock and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected] || Visa says spending on crypto-linked cards topped $1 billion in first half this year: (Reuters) - Visa Inc said on Wednesday its customers spent more than $1 billion on its crypto-linked cards in the first half of this year, as the payments processor takes steps to make crypto transactions smoother. The company said it was partnering with 50 cryptocurrency platforms to make it easier for customers to convert and spend digital currencies at 70 million merchants worldwide. The move is in line with Visa's broader acceptance of digital currencies. In March, the company announced it will allow the use of the USD Coin to settle transactions on its payment network. Investor sentiment on cryptocurrencies has somewhat soured recently, with regulatory crackdowns in China and elsewhere. Bitcoin, the world's biggest cryptocurrency, has seen a punishing slide following the euphoria earlier this year which took it to record highs. However, a clutch of high profile names are continuing to strengthen their involvement with the digital assets. Last week, Japan's investment giant SoftBank Group Corp invested $200 million in Mercado Bitcoin, one of the largest cryptocurrency exchanges in Latin America. Wells Fargo & Co said in May it would onboard an actively managed cryptocurrency strategy for its wealthy clients, while Goldman Sachs Group Inc launched a crypto trading team the same month. (Reporting by Niket Nishant in Bengaluru; Editing by Vinay Dwivedi) View comments || Natural Gas Price Fundamental Daily Forecast – Supported by Tight EIA Storage Data, July Heat Expectations: Natural gas futures are inching higher early Friday following the release of a very tight government storage report that sparked an impressive reversal to the upside the previous session. While the government report may have fueled the early surge, traders are staying it was the return of heat to the forecast that actually led to the higher spike in prices. At 09:59 GMT, September natural gas futures are trading $3.430, up $0.015 or +0.44%. Energy Information Administration Weekly Storage Report The latest EIA report confirmed the stronger demand with a modest 55 Bcf injection into storage. Traders are looking for a build in the low to mid-60s Bcf. Last year, the EIA recorded a 115 Bcf injection, and the five-year average injection stands at 83 Bcf. Ahead of the report, Natural Gas Intelligence (NGI) reported that Reuters polled 17 analysts, whose estimates ranged from a build of 56 Bcf to 79 Bcf, with a median injection of 68 Bcf. A Bloomberg survey of 10 analysts produced a tighter range of estimates, with a median injection of 64 Bcf. NGI’s model predicted at 68 Bcf build. Total working gas in storage as of June 18 stood at 2,482 Bcf, which is 513 Bcf below last year and 154 Bcf below the five-year average, according to the EIA. Short-Term Weather Outlook According to NatGasWeather for June 24 – June 30, “Hot high pressure continues over the West, Texas, and Plains with highs of upper 80s to 110s, including record breaking heat over the Northwest this weekend. The Midwest and eastern U.S. will be comfortable for another couple days with highs of 70s to lower 80s as weather systems with showers sweep through. The East will become very warm to hot this weekend into next week as high pressure builds in with highs of upper 80s to lower 90s to aid stronger national demand. A new weather system will push into the Midwest mid-next week with/cooling. Overall, moderate national demand Thursday-Friday, then high this weekend into next week. Story continues Daily Forecast Bespoke Weather Services said the figure reflected “crazy tight” supply/demand balances, which it had expected. “How tight was the question.” As it turned out, the combination of low wind and low nuclear output last week accounted for more than Bespoke estimated. The EIA figure would promote end-of-season storage levels under 3 Tcf if extrapolated forward, according to the firm. “Obviously, that is not going to happen, as next week’s number will not be nearly as tight, thanks to higher wind and more nuclear output. But it is easier now to see why prices have been on such a march higher.” Over the short-run, traders should watch for volatility due to the upcoming contract expiration and returning liquefied natural gas (LNG) demand to possibly reduce weekly storage injections by as much as 10-15 Bcf per week, according to EBW Analytics Group. For a look at all of today’s economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Mid-Session Technical Analysis for June 25, 2021 Elon Musk Toys With Shiba Inu Fans and Bitcoin Maximalists Why Nike Stock Is Up By 15% Today On September 7, Bitcoin’s Adoption In El Salvador Will Be Official Bitcoin Price Prediction – A Return to sub-$32,000 Levels if $36,000 Elusive Amazon And Google Come Under Fire In The UK Over Fake Reviews || Bitcoin Bump: Looming Regulation Fails to Spook BTC Investors: Bitcoin is on everyones minds these days, including regulators. The Bank for International Settlements (BIS) has introduced a proposal for a regulatory framework surrounding cryptocurrencies, including bitcoin, that looks a lot like the stablecoin model. Cryptocurrency market leaders warn that excessive regulation will stifle innovation. The bitcoin price has advanced more than 7% even with the potential banking regulatory oversight looming to currently hover at USD 37,568. Despite todays gains, bitcoin has shed more than one-third of its value since its April peak of USD 63,729. BIS Proposal The proposal, which was submitted by Basel Committee for Banking Supervision, a BIS committee, was created in response to heightened demand for bitcoin and altcoins. Regulators can no longer stick their heads in the sand about the market, and they want banks to take a conservative approach to handling digital assets. Under the proposal, banks would be required to hold USD in reserves that is commensurate with the amount of bitcoin they possess. The regulator is looking to attach a 1,250% high risk weight to bitcoin in search of a conservative outcome for direct exposures of cryptoassets, according to the proposal. The bank regulator in chief listed the following risks associated with digital assets, saying it is looking to address these concerns: consumer protection money laundering terrorist financing carbon footprint (think Elon Musk) Mainstream Media Coverage Alexis Ohanian, co-founder of Reddit, discussed cryptocurrencies on CNBC today, calling it a fascinating time. On one hand, El Salvador is looking to name bitcoin as legal tender, while the U.S. is moving toward cracking down on the space. Ohanian believes the industry requires a delicate balance between embracing innovative technology and thwarting the risks. He warned that any heavy hand regulation would be detrimental to the United States as other countries take leaps forward. Story continues Meanwhile, bitcoin bull and MicroStrategy chief Michael Saylor on June 9 was featured as a guest on Sean Hannitys prime-time show on Fox News. Hannity, whose show that bears his name reaches millions of viewers, also tweeted a profile picture of himself on Twitter with laser eyes , a sign that he is drinking the crypto Kool-Aid. MicroStrategy recently announced it is selling USD 500 million in bonds, the proceeds from which it will direct toward buying more bitcoin. The software maker already holds billions of dollars worth of BTC on its balance sheet. Saylor believes that bitcoin is headed for the moon. This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Bump: Looming Regulation Fails to Spook BTC Investors Gold Price Prediction Prices Rise Led by Declining U.S. Yields Natural Gas Price Forecast Natural Gas Continue to Press Top of Range Saudi Arabia Re-Enters Full Scale Financial Markets, Aramco $6 billion Sukuk and PIF Infrastructure Fund Stake USD/JPY Price Forecast US Dollar Continues to Chop Microsoft To Introduce Xbox Gaming On TVs Without The Console || Crypto Mining Industry Showing Signs of Green Energy Shift: BeInCrypto –
The Cambridge Bitcoin Electricity Consumption Index is showing a big shift in the cryptocurrency mining industry towards cleaner sources of energy.
New datapublishedby Cambridge University suggests that the mining industry has changed significantly over the past six months. The control over mining by the Chinese segment has fallen by over 20% since October 2020.
This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto || Chinese Bitcoin Mining Restrictions Lead To Lower GPU Prices As Leading Bitcoin Miners Suspend Operations: SCMP: Chinas ongoing Bitcoin (CRYPTO: BTC) mining crackdown led to plummeting graphic card prices, making it more affordable at the cost of fewer places for miners to set up shop, the SCMP reports . The crackdown follows Mays cryptocurrency decline of more than 40%. The NVIDIA Corps (NASDAQ: NVDA ) entry-level graphics card Nvidia Quadro P1000 model price plummeted 19% from 3,000 yuan in early May to 2,429 yuan ($376) on a JD.com Inc (NASDAQ: JD ) franchise store on Monday. The Asustek Computer Incs (OTC: ASUUY ) more advanced Asus RTX3060s price dropped 65% from 13,499 yuan in May to 4,699 yuan on Monday from its peak on Alibaba Group Holding Ltd (NYSE: BABA ) operated Tmall. The meltdown follows Chinese hydropower reliant bitcoin mining haven Sichuan provinces pulling the plug on mining firms. Mongolia and Sichuans had to suspend operations that were popular for their cheaper electricity. Many Chinese miners have either suspended operations or reduced network activity. China accounted for 65% of the bitcoin networks hash rate as of April 2020. Sichuan, inner Mongolia, and Xinjiang account for a significant chunk of the bitcoin networks global hash rate. The rising electricity required to power blockchain has also become a concern for China, aiming to reduce its carbon footprint. The daily average hash rate for bitcoin dropped to 104 exahash operations per second in the past 24 hours, down from over 200 in April. Price action: NVDA shares traded lower by 2.97% at $723.35 on the last check Monday. See more from Benzinga Click here for options trades from Benzinga China Ramps Antitrust Scrutiny On National Internet Firms: WSJ Nvidia Announces Minimum 0M Investment In UK Supercomputer: Reuters © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Ether Drops Below $2K, Bitcoin Wilts as China Tells Banks to Cut Off Crypto Transactions: Bitcoin, ether and other cryptocurrencies are trading lower after the People’s Bank of China (PBOC) called for a stricter crackdown on virtual-currency dealings.
• Ether, the second-largest cryptocurrency by market value, is changing hands near $1,920 at press time, the lowest level since May 23.
• The token powering Ethereum’s blockchain is down nearly 15% on the day and appears on track to test the 200-day simple moving average (SMA) support at $1,872.
• Bitcoinis trading 10% lower near $31,850, extending last week’s 8.7% decline.
• Other top cryptocurrencies includingXRP,cardanoandpolkadotare nursing losses ranging from 5% to 10%.
• In an announcementearly today, the PBOC said major financial institutions must stop providing trading, clearing and settlement for crypto transactions.
• While China’s anti-crypto stance is well established, the latest statement comes after consultation with Alipay and major banks including the Industrial and Commercial Bank of China, Agricultural Bank of China, Construction Bank, Postal Savings Bank and Industrial Bank.
• The central bank asked for prompt discontinuation of payments channels to crypto traders.
• Alipay, the Agricultural Bank of China and Postal Savings Bank have put out statements saying they will take necessary steps to prohibit virtual currency-related business activities.
• PBOC’s strongly-worded communique has bolstered concern of a stricter regulatory crackdown. The resulting weakness in cryptocurrencies appears to be weighing over shares of companies holding bitcoin and involved in virtual currency businesses.
• Per data source TradingView, shares in MSTR are currently down 7%, and those in Tesla, Coinbase, Square are nursing 1.5% to 3.5% losses, even though the S&P 500 is trading 1% higher on the day.
• Crypto markets tanked last month on the back of environmental concerns related to crypto mining, China’s crackdown, and fears of an early scaling back of stimulus by the U.S. Federal Reserve.
• China reiterated its crypto ban last month, citing dangers associated with speculative trading. On Friday, the government intensified pressure on cryptocurrency mining byordering the closureof 26 suspected mining projects in Sichuan.
• The Fed unexpectedly brought forward the timing of the first interest-rate hike to 2023.
• Nassim Taleb, Erstwhile Bitcoin Admirer, Publishes Paper Trashing It
• Market Wrap: Bitcoin Slides to Two-Week Low, Ether to Below $2K as China Reiterates Crypto Ban
• The De-Chinafication of Bitcoin
• Facts and Misinformation About ‘Green Bitcoin,’ With Jonathan Koomey
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 38152.98, 39747.50, 40869.55, 42816.50, 44555.80, 43798.12, 46365.40, 45585.03, 45593.64, 44428.29
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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]
Not fully available.
[Random Sample of News (last 60 days)]
Why Starbucks Stock Gained 15% in November: Starbucks(NASDAQ: SBUX)stock outpaced the market by a wide margin last month with its 15% increase compared to a 1.8% uptick in theS&P 500, according to data provided byS&P Global Market Intelligence.
The rally put the stock back in significantly positive territory for the year after having been down by more than 10% in early July.
Image source: Getty Images.
Investors celebrated the coffee chain's fourth-quarter report that ended fiscal 2018 on a positive note. Comparable-store sales met management's targets after falling behind their projections in each of the previous two quarters. Demand tends improved in both the U.S. and China segments, althoughcustomer traffic remained negative.
CEO Kevin Johnson and his team noted in early November that Starbucks improved nearly all of its key operating trends in the fourth quarter as compared to the prior quarter. That success gave the company confidence to project modestly accelerating sales growth for the new fiscal year, with comps landing at around 3% compared to the past year's 2% uptick.
Investors will be closely following the next few quarterly reports, especially the first-quarter announcement that covers the key holiday shopping season, for confirmation that Starbucks' rebound continues to gain momentum.
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Demitrios Kalogeropoulosowns shares of Starbucks. The Motley Fool owns shares of and recommends Starbucks. The Motley Fool has adisclosure policy. || Bitcoin Surges 18% in 3 Days as it Nears $3,800: What’s Next For the Market?: Since December 17, within less than three days, theBitcoin pricehas surged from $3,181 to $3,776 against the U.S. dollar, by more than 18 percent.
On cryptocurrency-to-fiat exchanges likeCoinbaseandBitstamp,Bitcoin (BTC)has slightly corrected to $3,700 but the breakout of the dominant cryptocurrency above the $3,700 mark has led analysts to consider the possibility of the asset testing major resistance levels in the $3,800 to $4,200 range.
On Monday, when the Bitcoin price was hovering at around $3,500, a cryptocurrency trader with the online alias “The Crypto Dog” said that BTC could either drop below the $3,400 mark if it loses momentum or potentially rise to $3,800.
The analyst said:
BTC consolidation below resistance. If we lose strength I look at $3,400 for support. Below there I am concerned. A break out and I’m eyeing $3,800.
Since then, Bitcoin has shown strong signs of breaking out of the $3,800 resistance level, which it has not been able to test since the first week of December.
Bitcoin likely experienced a substantial increase in price over the last week due to severely oversold conditions. From November 28, the value of BTC has continuously fallen against the USD, experiencing a steep sell-off without high sell pressure.
As the market started to show extremely oversold conditions, many major crypto assets started to initiate a corrective rally, eventually pushing the entire market to surge in valuation.
Traders that shorted Bitcoin from the top, at around $19,500, have also started to cash out their positions estimating the mid-term bottom of BTC to be in the $3,000 to $4,000 range.
Speaking to Bloomberg, Mark Dow, a trader who called the top of BTC,said:
“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. They just saw it was going up and wanted a piece of it.”
Analysts have generally attributed the intensified decline in the value ofEthereum (ETH),Bitcoin Cash (BCH), and other major crypto assets to the lack of fundamentals. Ethereum has not been able to show a high level of user activity in decentralized applications (dApps) while Bitcoin Cash struggled to gain merchant adoption.
The surge in the price of ETH, BCH, and other protocols like EOS show that traders are more comfortable in entering high-risk positions and confident in the short-term trend of the market.
Whether both major cryptocurrencies and small ERC20 tokens can maintain their momentum throughout the weeks to come and sustain the price range achieved in the past few days remain uncertain. But, the recent corrective rally allowed the crypto market to obtain some breathing room and avoid a large drop below the $100 billion valuation mark.
Clickherefor a real-time bitcoin price chart orhereto review our latest crypto market coverage.
Featured Image from Shutterstock. Charts fromTradingView.
The postBitcoin Surges 18% in 3 Days as it Nears $3,800: What’s Next For the Market?appeared first onCCN. || Donald Trump Hires Prominent Bitcoin Supporter Mick Mulvaney to White House Staff: U.S. President Donald Trump has hired the prominent Bitcoin supporter Mick Mulvaney to be his new White House Chief of Staff. Donald Trump is one of the most polarizing people on Planet Earth and whether you love him or hate him, it is beneficial for the crypto industry to have a major Bitcoin advocate whispering sweet nothings into the ear of the American President. Donald Trump Makes Positive Appointment for Crypto Industry Although Donald Trump might not top a list of the humblest people on the planet, he most definitely loves making money. Trump’s appointment of Mulvaney to the White House is a massive boon for crypto-fanatics. Mick Mulvaney is a crypto supporter and fan. When he was working at the House of Representatives, Mulvaney, who is a South Carolina Republican, was one of the people who worked towards creating the Blockchain Caucus, which is a group of lawmakers that write and create new laws for emerging technologies such as cryptocurrency. Donald Trump was upbeat when taking to his Twitter account to welcome Mulvaney and congratulate him on being named as Acting White House Chief of Staff: I am pleased to announce that Mick Mulvaney, Director of the Office of Management & Budget, will be named Acting White House Chief of Staff, replacing General John Kelly, who has served our Country with distinction. Mick has done an outstanding job while in the Administration…. — Donald J. Trump (@realDonaldTrump) December 14, 2018 Employing a Bitcoin Supporter Mick Mulvaney has knowledge of the inner-workings of blockchain and crypto in general. He helped the Blockchain Caucus to draft two new legislative acts that support the growth and evolution of the blockchain industry. The proposals were drafted to help increase the growth and support of blockchain innovation. The House Resolution 1108 was proposed to increase research in blockchain technology to show Congress how to take a sensible regulatory approach to the industry’s newest technological innovations. Story continues House Resolution 7002 was a proposal to amend the E-SIGN Act that was to “confirm the applicability of blockchain to electronic records, electronic signatures and smart contracts.” To give you an idea of Mulvaney’s feelings towards Bitcoin, here is a statement he made at the time of helping to create the Blockchain Caucus: “Blockchain technology has the potential to revolutionize the financial services industry, the U.S. economy and the delivery of government services, and I am proud to be involved with this initiative.” Although U.S. President Donald Trump rightfully gets criticism from all quarters for some of his decisions, especially in terms of immigration and foreign policy, when it comes to emerging blockchain technology, he seems quite open to its potential. The appointment of Mick Mulvaney to the White House by Donald Trump is a positive move for crypto-fans and aficionados alike. Featured image from Flickr . The post Donald Trump Hires Prominent Bitcoin Supporter Mick Mulvaney to White House Staff appeared first on CCN . || Bitcoin Price Slips Below $3.8K as Bullish Bets Tank: Bitcoin is losing altitude as an unwinding of bullish bets is creating downward pressure on prices.
As of writing, BTC is changing hands at $3,780 on Bitstamp â down 5 percent on a 24-hour basis â having found offers above $4,000 at 06:00 UTC.
Notably, the price drop is accompanied by a decline in the bullish bets. For instance, the BTC/USD long positions on the Bitfinex exchange fell to an eight-day low of 31,237 earlier today and are currently down 8 percent at 31,255 â the biggest single-day drop since Dec. 19.
Bullish Sentiment for Bitcoin Is at a 5-Month High
Further, the long-short ratio has pulled back to 1.35 from thefive-month highof 1.5 reached yesterday, indicating waning bullish sentiment.
What’s more interesting is that the “long squeeze” comes afterrepeated failureon the part of the bulls to clear the key resistance above $4,100. So, it seems safe to say that the demoralized bulls are exiting the market and that could attract sellers.
As seen above, long positions have dropped sharply, while short positions are largely unchanged on the day. That said, todayâs sell-off could entice the bears, leading to a rise in shorts and a deeper drop in prices.
New Bitrefill Service Aims to Make Lightning Payments Easy
The bearish doji reversal â back-to-backdoji candlesand a negative follow-through â seen in the above chart indicates that the recovery rally from the December low of $3,122 has stalled and the bears have regained some control.
Validating that argument is the breakdown of the trendline connecting the Dec. 28 low and Jan. 6 low. The 14-day relative strength index (RSI) is also rolling over in favor of the bears.
Moreover, the failure on the part of the bulls to force an inverse head-and-shoulders breakout could be considered a strong bearish signal, especially since the bull flag breakout, witnessed in the 4-hour chart earlier this week, had set the stage for a break above $4,300.
As a result, BTC risks falling to the major support lined up at $3,566 (Dec. 27 low).
With prices trading well below $3,934 (flag low), the bullish view put forward by the bull flag breakout on the 4-hour chart earlier this week is no longer valid.
• The bearish doji reversal seen in the daily chart indicates an end of the recovery rally and has likely opened the doors to the bullish-higher low of $3,566 (Dec. 27 low). A break below that level would further strengthen the bear grip and allow a re-test of the December low of $3,122.
• The confluence of the inverse head-and-shoulders neckline and the 50-day EMA, currently at $4,120, is the level to beat for the bulls. A high-volume break above that level would open up upside towards $5,000.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
Bitcoin image via Shutterstock; Charts byÂTrading View
• Bitcoin Price Faces Minor Pullback as Indecision Creeps into Market
• The Case for a 2020 Bitcoin Bull Run || How Did Ethereum Take Over Ripple With 80% Gain in One Month?: ethereum eth crypto Over the past 30 days, the Ethereum price has risen from $83 to $150, by 80 percent against the U.S. dollar in a strong corrective rally. On January 2, following a seven percent increase in its price, Ethereum (ETH) surpassed Ripple (XRP) to reclaim its throne as the second most valuable cryptocurrency in the global market. How Did Ethereum Rise by 80% in 30 Days? Two main factors have likely contributed to the short-term surge in the price of Ethereum in the past month: oversold conditions and the upcoming Constantinople fork. From early November to mid-December, Ethereum experienced a steep decline in value as its price fell from $220 to $83. Despite its recent 80 percent climb, the asset is yet to achieve November levels and would still have to increase by an additional 46 percent to rise back to $220. The market demonstrated oversold conditions subsequent to the sudden decline in the price of Ethereum from November to December, relieving sell-pressure on the crypto asset and allowing the asset to recover. According to Alex Krüger, an economist and a cryptocurrency trader, the upcoming fork of Ethereum called Constantinople is increasing the demand for Ethereum, as the fork would reduce the block rewards of ETH from 3 to 2. Notable outperformance of ETH over BTC in the last few weeks. Theres a reason for it: the upcoming fork / supply reduction. Another BAKKT delay adds to it, the trader said . 1/ #Ethereum 's Constantinople fork is coming on block 7080000, around January 16, 2019. Constantinople will reduce the block rewards from 3 to 2, decreasing new $ETH supply accordingly. On the long run, this is decidedly bullish. https://t.co/4bbgAHMz7Z Alex Krüger (@Crypto_Macro) December 24, 2018 The reduction of the block rewards of ETH restricts the amount of ETH miners can generate, which in the long-term will lead to a gradual decline in the potential circulating supply of ETH. As the supply of ETH goes down and the demand goes up or remains the same, the ETH price is expected to increase. Story continues On Christmas Eve of last year, Krüger added: Ethereums Constantinople fork is coming on block 7080000, around January 16, 2019. Constantinople will reduce the block rewards from 3 to 2, decreasing new ETH supply accordingly. On the long run, this is decidedly bullish. Krüger also pointed out in his analysis that in previous forks, Ethereum increased substantially in value. While the state of the market is significantly different than in previous instances, in consideration of the historical performance of ETH, the trader suggested that the Constantinople fork could contribute to the rise in the price of the asset. On the Homestead fork, ETH increased by 1150% in the two months prior (in both USD and BTC terms, as BTC was relatively flat during that period). Price started a 50% reversal the day of the fork. Not suggesting one should expect the same different market, different times, Krüger noted. Ethereum (ETH) Best Performing Asset in December ETH remains as one of the best-performing assets in December 2018, outperforming Bitcoin, Ripple, and Bitcoin Cash. However, the valuation of the cryptocurrency market still remains at $130 billion and it is far from recovering to previous highs and as such, it is still too early to conclude that ETH has started to enter a mid-term bull rally. Featured image from Shutterstock. The post How Did Ethereum Take Over Ripple With 80% Gain in One Month? appeared first on CCN . || Indonesia’s First Billion-Dollar Unicorn Acquires Philippine Bitcoin Wallet: By CCN.com : On Jan. 18, after an unsuccessful attempt to enter the Philippines market earlier this month due to foreign ownership concerns, Go-Jek, a major Indonesian ride-sharing platform has announced a partnership between with Coins.ph, a local crypto wallet and payments platform. The Filipino firm is currently in the process of rolling out beta access to users in the waiting list for Coins Pro , its in-development cryptocurrency exchange. Go-Jek has made a “substantial investment” in the FinTech firm, with which it has acquired the majority stake in the business of Coins.ph. According to unofficial sources , the transaction cost the company $72 million — its largest to date. Since its launch in 2011, Go-Jek has grabbed the attention of over 5 million Indonesians and is processing over 6 million transactions on a monthly basis. Coins.ph was launched in 2014 and has attracted $10 million from investors through two venture and two Series A funding rounds. Go-Jek has Some Foreign Ownership Issues The Indonesian tech giant, backed by the likes of Tencent and Google , has been attempting to penetrate the Southeast Asian ride-sharing market but experienced a backlash in the Philippines. Earlier this month, the Philippines Land Transportation Franchising and Regulatory Board (LTFRB) denied the application of Go-Jek’s subsidiary, Velox Technology Philippines, for a Manila ride-hailing service permit. Martin Delgra, chairman of the regulator, said in an interview for Reuters that the company’s unit: “did not meet the citizenship requirement and the application was not verified in accordance with our rules.” According to the regulator, Go-Jek’s subsidiary is fully-owned by the company . On the other hand, Singapore-based Grab, a direct competitor to the firm and a major player in the Southeast Asian ride-hailing market complies with the local limitations on foreign ownership. Velox’ application for a permit to operate a ride-sharing service in Manila was filed in August — slightly before a regulatory change which limited foreign ownership of ride-hailing services to 40%. Story continues Go-Jek’s app is a one-stop platform through which users can order food and various services as well as conduct online payments. Investors have put over $3.3 billion in the company, and this drawback is highly unlikely to last for long, especially with giants like Google behind its back. Not Exclusively for Go-Jek Rene Santiago, president of Bellwether Advisory and a transportation expert in Manila, commented: “Homegrown firms are not making a dent on early-player Grab, because the cars they can enroll now have to go thru the LTFRB’s filtering hurdles.” Moreover, the Philippines Department of Transportation has put a limit of the number of registered ride-sharing vehicles to 65,000, more than 37,000 of which are already taken by eight firms. Go-Jek Acquires Coins.ph Less than two weeks after the news about Go-Jek’s application rejection, on Friday, the company announced the acquisition of a Philippines-based cryptocurrency wallet and payments services app Coins.ph with a bold statement: “To support Coins.ph in its rapid growth to meet the financial needs of all Filipinos.” On the Filipino-based platform , users can use buy Bitcoin, Bitcoin Cash, and Ethereum and use crypto to da various online payments such as payments of bills. The company has started to roll out beta access to its in-development cryptocurrency exchange Coins Pro. According to Ron Hose, CEO, and co-founder of Coins.ph, the crypto wallet was about to initiate new funding round when the opportunity to partner with the Indonesian giant’s payments unit Go-Pay presented itself. He added: “We are very proud to showcase the success of Philippine startups. In just a few years, our team has been able to build a scalable service extending financial services to millions of Filipinos.” Go-Pay has grown significantly since its launch in 2016 and accounts for over half of the transactions on the Go-Jek platform. After the deal has closed, the crypto wallet company will continue to operate as usual while leveraging Go-Pay’s years of experience and resources. Nadiem Makarim, founder and CEO of Go-Jek also remarked: “We are humbled to take part in the country’s digital payments transformation, through technology and empowerment of fintech small-medium businesses. […] Today’s announcement marks the start of our long-term commitment to the Philippines and a continuation of our mission to use technology to improve everyday lives and create a positive social impact.” Whether or not Go-Jek and Coins.ph will deliver on their bold statements only time can tell. Above all, the Indonesian tech giant has not given up on the Philippines market. The post Indonesia’s First Billion-Dollar Unicorn Acquires Philippine Bitcoin Wallet appeared first on CCN . || As Dow Jones Rallies, Trading Bots Tell Investors to Short Everything: The Dow Jones Industrial Average is rebounding, but computer trading bots are alerting investors to short everything.
According to quantitative investment firm AlphaSimplex, algorithmic trading bots suggest shorting three major asset classes: stocks, currencies, and commodities.
“Pretty much any way you run the models, you end up net short a lot of asset classes,” Kathryn Kaminski told theWall Street Journal. “This is like the chaos bet.”
Kaminski is the chief strategist at AlphaSimplex Group in Massachusetts. She says the last time the trend-following computer trading bots reversed positions so dramatically was in 2007 and 2008.
According to Kaminski, the algo trading bots have moved from holding long positions in stocks, currencies, and commodities in the third quarter of 2017 to shorting them by 2019.
In other words, the bots are betting that those asset classes will drop, signaling a potential sell-off.
However, the trading positions of the bots were assessed based on bearish economic data from late-2018.
At the time, the stock market was roiled by escalating US trade wars with China, as well as the Federal Reserve’sfourth rate hike in 2018.
While many analysts believe algo trading is thewave of the future, others say quantitative analysis has its limits. They note that mathematical models cannot always predict where the markets will move.
“The story has been sold almost like a 2008 protection trade,” says Chris Solarz, a managing director at Cliffwater LLC. “But it’s not necessarily true that they will offset the next crisis, because we don’t know what that’s going to look like.”
Meanwhile, many on Wall Street believe the market plunge in late-2018 was an overreaction, and that the masssell-off is over.
The Dow Jones closed Wednesday (Jan. 9) at 23,878, up 91 points, posting a four-session winning streak.
JP Morgan CEO Jamie Dimon says the media-hyped anxiety about an impending global recession is overblown. Dimon insists there is no recession on the horizon, asCCN reported.
The billionaire banker says everyone needs to take a chill pill and calm down. The global economy may be in a “slowdown,” but a recession is not around the corner, he says.
It’s very possible we have a slowdown. People [should] take a deep breath. It’s not like we’re going into a global recession.
Meanwhile, investment managers like hedge funder Bill Miller say an uncertain stock market could be good news for bitcoin investors.
“Bitcoin basically has no statistical correlation with stocks or bonds, which makes it an excellent diversifier,”Miller says.
Featured Image from Shutterstock
The postAs Dow Jones Rallies, Trading Bots Tell Investors to Short Everythingappeared first onCCN. || LinkedIn: Blockchain developer is fastest-growing job: Blockchain developer is this year’s fastest-growing job in the U.S., according to LinkedIn, which released its 2018 U.S. Emerging Jobs report on Thursday. Despite reports that data science roles may be the most in-demand jobs , the professional social network found that “Blockchain developer” was the fastest-growing job over the last 12 months, with 33 times growth year-over-year, and demand coming from companies such as IBM ( IBM ), Consensys, and Chainyard in cities including San Francisco, New York, and Atlanta. Machine learning engineer ranked second place, trailed by application sales executive, machine learning specialist, and professional medical representative, respectively. Source: LinkedIn Despite Bitcoin’s ( BTC ) extreme volatility this year — its value has fallen from nearly $20,000 last December to under $4,000 as of Thursday — the cryptocurrency served as an excellent proof of concept for its underlying blockchain technology, with companies ranging from IBM ( IBM ) to Spotify ( SPOT ) experimenting with ways to deploy blockchain technology. IBM revealed this week that telecommunications firms in India could soon be using its blockchain tech for mobile numbers and the Do Not Call registry. Spotify, meanwhile, is looking to use blockchain to match royalties with rights holders by integrating data such as timestamps. What remains to be seen, however, is whether the demand for blockchain developers will remain over the next few years. It’s worth noting that “blockchain” didn’t appear anywhere in the top 20 emerging jobs in 2017 , while “machine learning engineer” topped the list last year. “Only time will tell what applications this still-nascent technology [blockchain] has, particularly outside of the cryptocurrency space and more generally in ordinary business functions,” LinkedIn Chief Economist Guy Berger told Yahoo Finance on Thursday. “I think it’s still going to be a speculative set of skills and occupations until it [blockchain] takes more hold and turns from more of a venture to something more concrete.” Story continues Meanwhile, LinkedIn reports that skills such as oral communication and people management remain in extremely high-demand, despite six out of the 15 top emerging jobs this year being related to artificial intelligence and ongoing chatter that robots are displacing human workers. Indeed, job candidates who excelled in both soft skills were hired at faster rates compared with people who lacked them, LinkedIn reported. Source: LinkedIn “We sometimes underestimate how important these skills are,” Berger added. “We think all the time about STEM skills, about tech skills, about learning to code. … But really soft skills are some of the most durable skills out there, because we’re always in our world going to need to be talking to people. In terms of addressing it, people can invest in speaking skills, in presentation skills. These are skills you need in every kind of job.” Translation? Blockchain developer may be this year’s trendiest job, but mastering the ability to collaborate and communicate well in the workplace will likely get job seekers further, regardless of industry. — JP Mangalindan is the Chief Tech Correspondent for Yahoo Finance covering the intersection of tech and business. Email story tips and musings to [email protected] . Follow him on Twitter or Facebook . More from JP: Facebook loses top spot on ‘Best Places to Work’ list Silicon Valley’s racism problem is bigger than Facebook eBay exec explains why millennials are buying so much CBD oil Dan Lyons: Tech companies ‘just have to be lying’ when talking about diversity || Wall Street is Backing Out of Crypto: Wall Street is quietly moving out of the crypto market,Bloomberg reports. While the market has continued to be battered by news of fraud and imminent regulatory crackdowns, there was a time when it seemed like Wall Street had started to warm up to the rise of crypto assets.
Last year, when the crypto industry enjoyed what was probably the biggest bull run in its history, it seemed a lot of mainstream financial companies were also ready to join the bandwagon. Names like Goldman Sachs, Fidelity Investments and Barclays Bank Plc. were all affiliated with reports to open cryptocurrency divisions, and these speculations sent ripples around the financial industry.
Goldman Sachs was one of the first Wall Street firms to show interest in Bitcoin futures, and rumors claimed that the firm was working on developing a seperate crypto trading desk. The investment bank partnered with Galaxy Digital and led a$57 million series B investmentin custodian firm BitGo Holdings Inc., in a bid to offercustodyservices. Fast-forward to a year later, and Goldman is yet to offer crypto trading. The bank’s Bitcoin derivative product has not made much progress since it launched.
New York-based Citigroup Inc. also reportedly developed acrypto-based productthat could help asset management firms and hedge funds reduce the risk they get exposed to when they invest in crypto. The product, known as Digital Asset Receipt, was expected to provide crypto investors with an innovative means of keeping tabs on their investments and offer an additional layer of legitimacy and trust to the fledgling asset class.
Then we have London-based Barclays Inc. The British bank showed a massive interest in crypto during the boom, hiring energy traders Chris Tyrer and Matthieu Jobbe Duval to help lead its digital assets division. Both were hired to help look into avenues where the bank could make a foray into the crypto world and provide recommendations, especially as rumors swirled that it was considering developing acrypto trading deskof its own. Sadly, Tyrer ended up leaving earlier this year, while Duval remains with the firm. Inadditionto Tyrer quitting, Barclays alsodeniedany rumors of the crypto trading desk.
According to the report, there are two reasons for the quiet withdrawal of Wall Street in the market; the downturn in the market and a lack of aregulatory frameworkon cryptocurrencies. The first reason is relatively simple. 2018 has been a wild ride for the crypto market, with about$700 billionbeing wiped off. Crypto-based firms are feeling the brunt of this bear market, with news of retrenchments, companies folding up and manufacturers of mining rigs losing profits by the day. On regulation, it is believed that the continued lack of a specific regulatory framework on cryptocurrencies has continued to deter big names in the financial industry from taking the plunge into the sector.
Hopefully, 2019 will see a rejuvenation in the crypto industry, as well as the introduction of clearer crypto regulations.
Featured image from Shutterstock.
The postWall Street is Backing Out of Cryptoappeared first onCCN. || Crypto Trading Exec: Price Slump to Continue, With Bitcoin Bottoming Out at $3,000: Michael Moro, the CEO of cryptocurrency trading companies Genesis Trading and Genesis Capital Trading, said that the Bitcoin ( BTC ) price could bottom at $3,000 in an interview with CNBC Nov. 23. Speaking on CNBC’s “Squawk Box,” Moro suggested that the leading cryptocurrency will lose another 30 percent before bottoming at $3,000. Moro said, “You really won’t find [the floor] until you kind of hit the 3K-flat level.” Moro addressed small resistance levels, saying that he does not think the BTC price can stabilize in “the mid-3s,” also noting that the $4,000 level was tested twice in the previous days. The crypto trader said that long-term investors are more poised to handle BTC’s slump and wait until the price rebounds, while at the same time advising not to buy the cryptocurrency at the dip: “This is about the fifth or sixth 75 percent-plus drawdown that we’ve seen in the 10-year history of Bitcoin. And so if you have that [long-term] lens, I don’t believe institutional investors really ultimately care where the price of Bitcoin ends in 2018, simply because they’re looking at things three to five years out.” When asked about what the low price of Bitcoin could mean for miners, Moro suggested that the cost to mine one Bitcoin will go down because “the hash rate has dropped.” The recent cryptocurrency market decline has resulted in a similar drop in mining profitability and forced Chinese operators to sell their mining devices at a loss. Some mining machines are being sold on the second-hand market for merely 5 percent of their original value. Bitcoin’s price has kept falling, along with the rest of the crypto market, since the hard fork network upgrade of Bitcoin Cash (BCH) that took place Nov. 15. Earlier this week, Lou Kerner, a partner at venture capital firm CryptoOracle, compared the current slump in crypto prices to the dotcom burst in the early 2000s. Kerner stated that strong coins should be viewed like the big companies that came out of the dotcom bubble, like Amazon. Story continues Moreover, the venture capitalist said that Bitcoin is “the greatest store of value ever created,” and will surpass gold over time. When asked what could be behind the recent slump, Kerner argued that “crypto has been so weak because [for] most of it there is no underlying value outside of confidence.” Related Articles: China: Crypto Miners Sell off Mining Devices ‘by Kilo’ Amidst Market Decline Options Are the Answer for Dealing with ‘Bearish’ Crypto Market, Trading Platform Says Amidst Recent Market Crash, Susquehanna ‘Crypto King’ Emphasizes Crypto Is a ‘Long Game’ Italian Securities Watchdog Orders Unauthorized Crypto Companies to Cease and Desist
[Random Sample of Social Media Buzz (last 60 days)]
#LIZA #LAMBO price
01-09 15:00(GMT)
$LIZA
BTC :0.00000
ETH :0.00000
USD :0.0
RUR :0.0
JPY(btc) :0.0
JPY(eth) :0.0
$LAMBO
BTC :0.001
ETH :0.009
USD :2.9
RUR :305.0
JPY(btc) :627.9
JPY(eth) :138.5 || You forgot hyperwave and old man yells at bitcoin || #BTCUSD Market #1H timeframe on November 27 at 16:00 (UTC) is #Bearish. #cryptocurrency #bitcoin #btc #crypto #trading #idea #report technical analysis || BTCで貰ってきたブリーズアップセールのパンフにファイアプルーフが登場。今年も良いご縁に巡り会えたらと思います(*´ー｀*) pic.twitter.com/Fhjfki2oHO || To all my EU buddies
Trade on binance with $GBP and $Euro
Here is my ref link
#binance #Bitcoin #cryptocurrency
#eth $btc $eth #crypto $cryptohttps://www.binance.je/?ref=35022184 || Visionnaire #bitcoin #CryptoCurrency #crypto #Cryptomonnaiehttps://twitter.com/VanAmalia/status/1068175385135845376 … || How This Decentralized Alternative to BitPay Is Driving Merchant Adoption of Bitcoin http://twib.in/l/4MGd7r8db58E || Current Bitcoin Price
All Forks = $3,517.93 -0.36%
--
$BTC = $3,405.80 -0.23%
$BCH = $98.17 -2.24%
$BTG = $11.63 0.00%
$BCD = $0.70 -0.05%
$SBTC = $1.63 -6.29% || Chainalysis: Bitcoin transactions on darknet markets rose throughout 2018 to an average of $2M/day, nearly double the activity measured at the start of the year (Anna Irrera/Reuters) http://bit.ly/2Hm5qEw via @Techmeme || Total Market Cap: $122,243,047,758
1 BTC: $3,791.17
BTC Dominance: 54.08%
Update Time: 05-12-2018 - 20:00:12 (GMT+3)
|
Trend: down || Prices: 3604.58, 3585.12, 3600.87, 3599.77, 3602.46, 3583.97, 3470.45, 3448.12, 3486.18, 3457.79
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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]
Not fully available.
[Random Sample of News (last 60 days)]
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.
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.
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.
Thisarticlewas originally posted on FX Empire
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• GBP/JPY Price Forecast – British pound shows resiliency against yen || An introduction to rehypothecation with cryptocurrency: Capitalism and increasingly global markets have worked to dramatically lift the quality of life for people around the world. Financial markets work by learning and adapting through product development from ecosystem participants and progressive regulation. At a time when we face global challenges, the world needs a more globalized financial system that is accessible to individuals on a level playing field.
How can we help Bitcoin and blockchain technology win market share? We can develop scalable, trustworthy lending systems to support growth of the asset class. As part of that journey, we will need to use rehypothecation.
BlockFirecently announcedit is launching a crypto savings account with 6 percent annual interest, payable monthly in bitcoin or ether. This announcement made a splash in the crypto community, but some did not like the risks associated with the product. The ability to self custody large amounts of value with Bitcoin is one of the unique qualities of blockchain technology and something that will always be the preferred method of storage for many in the community.
The new product does carry risk, which we thoroughly disclose and thoughtfully manage. We think it’s important for people to know and understand the realities of rehypothecation and its role as a financial tool to help grow the cryptocurrency industry.
One concern frequently voiced is that rehypothecation creates more than 21 million bitcoin. In our view, that wouldn't be possible without a major change to the current implementation of Bitcoin. This is a technological reality of the Bitcoin blockchain. Even if you are worried about margin trading or rehypothecation enabling this, platforms that enable margin and up to 100x leverage have already existed for some time, including during the 2017 bull run.
Why do we want rehypothecation in the crypto market? Let’s look at 5 key points regarding rehypothecation in traditional markets and how this capability is unique with Bitcoin:
1. Securities rehypothecation generally lowers the cost for consumer access to products. This can be seen in financial service providers offering free custody, free trading, and ever-declining asset management / ETF fees. In BlockFi’s case, it’s what enables it to offer a yield on bitcoin and ether.
2. Rehypothecation promotes market liquidity and price discovery by enabling market participants to express a multitude of views. So far, our experience has been that borrowing crypto is part of arbitrage, market making, and short selling activities. This helps balance supply and demand for bitcoin globally, at all the different and fragmented marketplaces. This activity supportsfair and orderly markets,which lead to prices being closer to bitcoin’s true value, and are paramount to the growth and usefulness of Bitcoin.
3. With Bitcoin, settlement isn’t instant but we do have a settlement layer that is much faster than traditional markets. It’s kind of like having theDTCCalready built in, but with more transparency. Bitcoin operating firms might need to borrow bitcoin for their inventory, but don’t want the price risk. Bitcoin settles fast but not instantaneously, and there isn’t a traditional settlement cycle. This means that you need to have the Bitcoin before you transfer it. Having good actors to facilitate this flow in a “one to many” or network model is important for scale.
4. Rehypothecation was not responsible for the financial crisis. Poor underwriting, too much leverage and miscalculated risk (especially at large insurers) were the culprits. The benefits of rehypothecation far outweigh the costs - which are effectively zero if it’s donecorrectly.
5. Our goal as an industry is to effectively compete with the traditional financial system. In order to do that, we will need to use existing tools and leverage the blockchain to improve on their function.
Zac Princeis the Founder and CEO at BlockFi, a wealth management platform for crypto investors. || Most of Bitcoin’s Trading Volume is FAKE: Time to Wake the F*** Up?: Hands up, anyone who is surprised that a little-known crypto exchange that apparently had the largest bitcoin trading volume on CoinMarketCap has been exposed as a wash trading scam platform. In the world of crypto where apparently everyone made it to Lamboland during the 2017 bull run, and absolutely everybody knew when to sell, no one will admit that they have been played. Since Bitwise published its investigation two days ago showing that at least 95 percent of all bitcoin trading volume is faked on unregulated exchanges, the standard refrain has been “Everyone already knew that.”
To admit otherwise would be to admit that one is a “noob” and possibly a “bagholder,” but the fact that platforms likeCoinBenecontinue to exist and perpetrate what should be a transparent scam is indicative of a deeper problem within crypto. For whatever reason, otherwise sensible and rational investors seem to have internalized the idea that crypto “does not operate on conventional rules” and as such, it is OK to ignore what their experience or good sense tells them.
In the case of CoinBene, which purportedly has the largest daily bitcoin trading volume on CoinMarketCap, the scam is transparent – fake a high trading volume, and attract ICO suckers who want to get their sh*tcoin listed on a high volume platform without going through the regulatory processes of say, Coinbase or Gemini. In return for helping them jump the queue, charge them as much as $3 million per listing, and smile to the bank as their sh*tcoin inevitably sinks and eventually turns into a deadcoin. It’s almost like a victimless crime.
Despite CoinBene clearly being a no-name platform compared to the likes of Binance or Kraken, some clearly fell victim to a story that should have been very easy to spot as “too good to be true.” This is unfortunately all too common in the world of crypto, where common sense and Economics are often overlooked out of an irrational sense of optimism.
At the height of the 2017 bull run, for instance, it was not uncommon to see ICO whitepapers promising “at least 500% profit upon listing.” Others guaranteed that token prices would spike as much as 2000 percent and stay there because the ICO promoters would buy back a large portion of the tokens and create artificial scarcity. Ridiculous as these promises look in hindsight, many such projects raised millions of dollars, effectively preying on the naivety of crypto investors.
Read the full story on CCN.com. || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 02/03/19: Bitcoin Cash ABC gained 1.21% on Friday. Reversing a 0.47% loss from Thursday, Bitcoin Cash ABC ended the day at $131.0.
A relatively choppy day saw Bitcoin Cash ABC slide from a morning high $131.58 to an intraday low $128.98 before finding support.
Steering clear of the first major support level at $127.87, Bitcoin Cash ABC bounced back to a late intraday high $132.31. The first major resistance level at $132.19 pinned back more material gains, before easing back to $131 levels.
At the time of writing, Bitcoin Cash ABC was down by 0.42% to $130.45. A bullish start to the day saw Bitcoin Cash ABC rise to a morning high $132.19 before pulling back. Falling short of the first major resistance level at $132.55, Bitcoin Cash ABC fell to a morning low $130.38. The first major support level at $129.22 was left untested early on.
For the day ahead, a move back through to $130.80 levels would support another run at the first major resistance level at $132.55. Barring a broad-based rally, we would expect Bitcoin Cash ABC to come up short of $134 levels on the day. Thursday’s high $132.31 would likely pin Bitcoin Cash ABC back from a breakout from $132 levels.
Failure to move back through $130.80 could see Bitcoin Cash ABC fall deeper into the red. A fall through the morning low $130.38 would bring $129 levels into play. Barring a crypto meltdown, we would expect the first major support level at $129.22 to prevent heavier losses on the day.
Litecoin rallied by 3.04% on Friday. Following on from a 1.11% gain on Thursday, Litecoin ended the day at $46.81
Bullish through most of the day, Litecoin rallied from an intraday low $45.26 to an afternoon intraday high $48.7.
Steering clear of the first major support level at $44.33, Litecoin broke through the first major resistance level at $46.6 and second major resistance level at $47.76. A late pullback cut the gains on the day.
At the time of writing, Litecoin was up by 0.66% to $47.12. A mixed start to the day saw Litecoin rise to a morning high $47.49 before falling to a morning low $46.74. The moves left the day’s major support and resistance levels untested early on.
For the day ahead, a hold onto $47 levels through the morning would support a run at $48 levels and the first major resistance level at $48.59. Barring a broad-based crypto rally, we would expect Litecoin to continue falling short of $50 levels on the day. Thursday’s high $48.7 and the day’s first major resistance level would likely pin Litecoin back.
Failure to hold onto $47 levels could see Litecoin slide through the morning low $46.74 to bring $45 levels into play. Barring a broad-based crypto sell-off, we would expect the first major support level at $45.15 to prevent a slide to $44 levels on the day.
Ripple’s XRP rose by 0.87% on Friday. Following on from a 1.03% gain on Thursday, Ripple’s XRP ended the day at $0.3233.
Tracking the broader market through the day, Ripple’s XRP rose from an intraday low $0.31870 to an intraday high $0.33192.
Steering clear of the first major support level at $0.3174, Ripple’s XRP broke through the first major resistance level at $0.3260. The second major resistance level at $0.3313 pinned back a more material gain on the day.
A late reversal saw Ripple’s XRP slide back to $0.32 levels by the end of the day.
At the time of writing, Ripple’s XRP was down by 0.22% to $0.3226. Moves through the early hours saw Ripple’s XRP slide from a morning high $0.3252 to a low $0.32058.
The day’s major support and resistance levels were left untested early on.
For the day ahead, a move back through to $0.3250 levels would support a run back through to $0.33 levels. The day’s first major resistance level at $0.3306 will likely be in play later in the day should support kick in. Barring a broad-based crypto rally, we would expect $0.34 levels to be left untouched, however. The second major resistance level at $0.3379 would likely prevent any breakout from $0.33 levels.
Failure to move through to $0.3250 levels could see Ripple’s XRP fall deeper into the red. A fall through the morning low $0.32058 would bring the first major support level at $0.3174 into play before any recovery. Barring a crypto meltdown, we would expect sub-$0.31 levels to be avoided on the day. The second major support level at $0.3114 would likely prevent heavier losses in the event of a sell-off.
Buy & Sell Cryptocurrency Instantly
Thisarticlewas originally posted on FX Empire
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According to cryptocurrency analyst Alex Ziupsnys, the introduction of the crypto indices of Nasdaq could lead to the approval of a wide range of investment vehicles in the long-term.
The analystsaid:
“NASDAQ to add a bitcoin index on its platform. They are reading the writing on the wall and don’t want to get left behind. There is no stopping this. Adoption happens gradually right in front of you, until you finally pause, look around, and bitcoin is the dominant asset.” || Stats, Brexit and Trade Talks Put the EUR, GBP and USD in Focus: Earlier in the Day: It was a busier Asian session than usual this morning. Key stats released through the session included: NZ Building Consents (MoM) (Feb) Japan Jobs/applications ratio (Feb) Tokyo Core CPI (YoY) (Mar) Japan Industrial Production (MoM) (Feb) Prelim Japan Retail Sales (YoY) (Feb) Australia Private Sector Credit (MoM) (Feb) Outside of the numbers, RBNZ Governor Orr spoke ahead of the morning’s stats. For Kiwi Dollar, Ahead of the Asian open, RBNZ Governor Orr reiterated the RBNZ’s bias towards a rate cut, which weighed on the Kiwi Dollar early. The Kiwi Dollar moved from $0.67845 to $0.67754 during the speech that preceded the building consent figures. Building consents rose by 1.9% in February, month-on-month. The increase came off the back of a revised 13.6% jump in January. According to NZStats : In the year ended February 2019, new dwellings consented increased by 9.7% from Feb-2018. The Kiwi Dollar moved from $0.67756 to $0.67758 upon release of the figures. At the time of writing, the Kiwi Dollar stood at $0.6784, up 0.01% for the session. For the Japanese Yen, Job applications and March inflation figures were first up. The focus was on the inflation figures in the early part of the morning. According to figures released by statistics Japan , the annual rate of core inflation held steady at 1.1% for Tokyo. In line with forecasts, inflation continued to fall well short of the BoJ’s target. Prices for fuel, light and water increased by 7.6% year-on-year. There were also notable increases in prices for furniture and household utensils (+2.4%) and medical care (+1.3%). Weighing on inflation were prices for housing (+0.5%), clothes and footwear (0.6%) and transportation and communication (-0.6%). Month-on-month, core consumer prices for the Ku-area fell by 0.1%. Separately, the job/applications ratio held steady at 1.63, which was in line with forecasts. The Japanese Yen moved from ¥110.637 to ¥110.634 upon release of the figures that preceded the industrial production and retail sales figures. Industrial production increased by 1.4% in February, according to prelim figures, which was in line with forecasts. According to figures released by the Ministry of Economy, Trade and Industry , Industries that contributed to the increase included: Motor vehicles; Production machinery; and Electrical machinery and information and communication electronics equipment. Industries that dragged on the headline number included: Transport equipment (excl. motor vehicles); Inorganic and organic chemicals; and Electronic parts and devices. Story continues Retail sales increased by 0.4%, year-on-year, in February, falling short of a forecasted 0.9% rise. Sales in January rose by 0.6%. According to figures released by the Ministry of Economy, Trade and Industry , sales fell by 2.3% month-on-month. The Japanese Yen moved from ¥110.65 to ¥110.651 upon release of the figures. At the time of writing, the Japanese Yen was down by 0.14% to ¥110.79 against the U.S Dollar at the time of writing. For the Aussie Dollar, Private sector credit rose by 0.3% in February, following a 0.2% increase in January. Forecasts were for a 0.2% rise. According to figures released by RBA , Housing credit rose by 0.3%, month-on-month, picking up from a 0.2% increase in January. Personal credit fell by 0.1%, following on from a 0.7% slide in January. Business credit rose by 0.3%, which was at the same rate as in January. Year-on-year total credit rose by 4.2%, easing back from a 4.9% rise in January. Housing credit rose by 4.2%, down from a 6.2% rise in February 2018. Personal credit slid by 2.7%, following a 1.1% fall in February 2018. Business credit rose by 5.3%, picking up from a 3.4% rise in February 2018. The Aussie Dollar moved from $0.70868 to $0.70862 upon release of the figures. At the time of writing, the Aussie Dollar was up 0.18% to $0.7087. The Day Ahead: For the EUR It’s a busy day ahead for the EUR. Key stats out of the Eurozone include German retail sales and unemployment figures, French consumer spending and inflation numbers and 4 th quarter GDP figures out of Spain. Later in the morning inflation figures out of Italy and the Eurozone will also provide direction for the EUR. Following a string of disappointing stats and a dovish ECB, we can expect the EUR to be sensitive to the numbers. Outside of the numbers, updates from the continuation of trade talks between the U.S and China and Brexit will also influence. At the time of writing, the EUR was up 0.09% at $1.1254. For the Pound Economic data out of the UK include 4 th quarter GDP and business investment figures. Barring a material deviation from a forecasted 1.3%, we would expect the figures to have a muted impact on the Pound. The main event of the day will be the UK Parliamentary vote on Theresa May’s Brexit deal. Well, part of the deal. Excluded from the original deal will be a vote on the UK’s future relationship with the EU. MPs will be voting on citizens rights, the Irish backstop, and the divorce bill. On Thursday the DUPs had yet to show their support for the Irish backstop, suggesting that Theresa May would struggle to turn the 75 needed votes. At the time of writing, the Pound was up 0.20% to $1.3070. While another vote against the British PM would weigh, hopes would then shift to next week’s votes on the alternatives. Across the Pond It’s another busy day ahead on the economic calendar. On the data front, the U.S session kicks off with the FED’s preferred inflation figures and personal spending numbers. With the markets now expecting the FED to cut rates later in the year, the Core PCE Price Index will need to be up by more than 2% to influence. Forecasts are for the annual rate of core inflation to hold steady at 1.9%. An unexpected fall in personal spending could add pressure on riskier assets. Forecasts are for personal spending to rise by 0.3%, reversing a 0.5% fall in December. Later on in the session, the Chicago PMI and consumer sentiment figures are also scheduled for release ahead of new home sales figures. Outside of the data, FOMC members Williams, Kaplan, and Quarles are scheduled to speak. Any talk of a sooner rather than a later need for a rate cut would influence. With the final day of U.S – China trade negotiations also there to consider, it’s a particularly busy day ahead. At the time of writing, the Dollar Spot Index was down 0.01% to 97.196. For the Loonie January GDP and February’s RMPI numbers are due out later today. We can expect the Loonie to be more responsive to the GDP numbers that are forecasted to be Loonie positive. Any upside may be short-lived, however, with market risk sentiment and crude oil prices to be the key driver on the day. The Loonie was up 0.07% at C$1.3428, against the U.S Dollar, at the time of writing. This article was originally posted on FX Empire More From FXEMPIRE: USD/CAD Daily Price Forecast – USD Steady Above 1.3400 Handle Natural Gas Price Prediction – Prices Drop but Rebound From Lows Following Weak Inventory Draw Bitcoin And Ethereum Daily Price Forecast – Major Crypto Coins To Continue Consolidative Price Action European Equities: Stats and Brexit Chatter to Set the Early Tone US Stock Market Overview – Stocks Rise, Led by Materials, Facebook is Sued by HUD Could Foreign Investors Chasing Higher U.S. Rates Be Causing the Inverted Yield Curve? View comments || 4 Reasons to Believe the Deep State (or the NSA) Created Bitcoin: Bitcoin Who is the creator of Bitcoin? The mysterious Satoshi Nakamoto, who has written the Bitcoin Whitepaper, has never been identified. Since 2009, there have been many theories of whom created Bitcoin . Some even think the NSA created it . 1.) They did create part of it for sure SHA-256 is the secure hashing algorithm which is an essential part of Bitcoin’s architecture. It is an NSA hash function algorithm first published in 2001. “How Bitcoin Protocol Works” – Andreas Antonopoulos This is a really excellent lecture about SHA-256 and how it is used by the Bitcoin protocol, because it’s very technical (instead of using metaphors to describe how Bitcoin works), and someone who isn’t a computer nerd can take most of it in and understand what he’s saying: Read the full story on CCN.com . || Bitcoin in Danger Zone? Traders Brace for BTC Fall to 12-Month Low as Market Drops 4%: In the last 24 hours, the prices of major crypto assets have fallen by more than 5 percent as the Bitcoin price declined by around 2 percent.
In consideration of the pattern of BTC since early January of achieving lower highs across four consecutive weeks, some traders expect Bitcoin to test its 12-month low.
Bitcoin price chart from TradingView
In mid-December, Bitcoin dropped to as low as $3,122 against the USD. After showing some signs of recovery in the latter half of the month, the dominant cryptocurrency initiated a continuous sell-off.
Read the full story onCCN.com. || A failed ICO on eBay and a blockchain ex-con show just how far we still have to go: Two sad pieces of news have caught my attention recently, both regarding the shady world of ICOs. The first story was of an ICO failing to sell any tokens at all and resorting to selling the project on eBay. It claims that the project’s social media channels and thousands of lines of code are its selling point. The second story was that the former CEO of Enron is investigating a blockchain project one month after being released from prison. This is the same CEO who presided over one of the biggest fraud scandals in recent memory. Whilst it is easy to get excited about the progress cryptocurrencies such as Bitcoin are making and the vibrant industry we have now, there is still a plague of what is frankly scammy behaviour. Such news usually gets more clicks from the mainstream media as they can portray it as evidence of the immaturity of the industry. Unsurprisingly, the ICO listed on eBay is yet to receive any bids. What is of even more interest though is the quote from the founder who states: “The core business model would run just as well in the centralised world without any tokens or crypto on the blockchain.” Such is the state of many ICO projects that there isn’t actually any need for them. One positive is that this ICO has performed so badly it has resorted to selling itself on eBay, suggesting people are potentially wisening up and ICOs are struggling. Binance’s launch of new ICOs would seemingly go against this narrative though, as the recent Celer Network token launch raised $4 million in 18 minutes. However, the price of the Celer Network token fell 80% as soon as the ICO finished. The former CEO of Enron is reported to be investigating blockchain usage in the oil and energy sector. Ironically, one use case of blockchain technology is that it can help with auditing, the precise crime he was found guilty of and spent more than 12 years in prison for. Whilst there is a level of oddness in the cryptocurrency and blockchain industry, from McAfee’s whale obsession to an ICO on eBay, these kinds of stories don’t bode particularly well for us. We still have some way to go before we see these oddities removed. The post A failed ICO on eBay and a blockchain ex-con show just how far we still have to go appeared first on Coin Rivet . || Why tokens matter: Before Bitcoin and other cryptocurrencies were created, it was impossible to send value over the internet as easily as we send data, for the simple fact data can be copied while money can’t. Until the rise of Bitcoin, we could only leverage double-entry bookkeeping – two parties held copies of their own ledgers while a third entity (the government or financial institutions) verified disputes and the veracity of each agent’s ledger. Of course, with the rise of cryptocurrencies, it became possible to transfer value over the internet. Much like an improved version of MOIP (Money Over IP), Bitcoin enabled people and businesses to simply register and send value using a distributed ledger, meaning there is no need for third-party verification and trust can be achieved between two parties. In a sense, the most revolutionary aspect of Bitcoin was the abstraction of the concept of value over a network. While in the past copyright and patent registration made a lot of sense in order to protect your product, business, or network, nowadays, with the rise of cryptocurrencies, there is a new layer of protection which is much safer, more efficient, and more user friendly: network value. For the first time in history, any product or company can have a token associated with its network. Given user interactions translate into value creation, there is little reason to spend time and money in creating legal barriers when your company’s ultimate incentive is to grow value on its network. Value and ownership of networks Companies and businesses protect their findings through patents and copyright laws, due to the fact there is usually a hefty investment made to promote innovation. While it would be better for the world if every company had access to every innovation, businesses need some level of protection against copycats – otherwise there is little incentive to promote innovations, as a low ROI would not compensate for the level of risk taking. Story continues If we look at the big picture, this is what we can conclude: Innovations need to be protected, otherwise there is little incentive to innovate. Protection means removing the ability for other companies to copy said innovation. What if the same problem could be solved with cryptocurrencies, tokenomics, incentives, and rewards? Even better, what if value could be granted through the ownership of tokens? Imagine if tokens could give some sort of utility to its holder, like governance, curation, or validation powers? To me, the real great thing about cryptocurrencies is the fact they give any network value. Instead of relying on enforcement through legal and forceful means, why not just give your innovation value by linking a token to it? I argue any network is protected when a copycat can only copy part of what makes a certain innovation great. This is because network value cannot be copied – it must be earned through an active community of users who see real value in your product. No company would be directly exposed to copycats. MOIP (Money Over IP) If you missed the @IvanOnTech #ivanontech #AMA here is the full version. #fintech #crypto #bitcoin #decentralization #blockchain #banks #wallstreet #MOIP #Celpay https://t.co/C2CerbzOov — Alex Mashinsky (@Mashinsky) March 9, 2019 There’s a bunch of examples of projects trying to accomplish this solution. From social networks like Steem and artistic networks like Celio to advertising networks like the Basic Attention Token, these projects understand a very basic concept: it is possible to endow a network with value, even if the underlying asset is not money per se, by linking a value transaction to each user interaction. As with Bitcoin, when your asset is endowed with price discovery, it becomes incredibly more interesting to hold. In turn, these types of communities have a chance to survive longer because, besides a common goal, there is common value being shared amongst users. It’s the same logic you apply to your money, shares, or virtually any asset you own: the more people use that asset (transactions), the more valuable it will become. The key takeaway is that transactions give value to networks, and to have transactions, you need to have a currency. Cryptocurrencies: Distributing value to all… If you ask yourself at this point what is the purpose of any currency, it becomes clear: to protect value. The fact fiat currencies were linked to gold was a way to achieve that outcome. With the rollback of the Brenton-Woods agreement, the USD and most world currencies shifted away from this logic, meaning value was only guaranteed by trust in the currency due to network effects. The only problem? There is no transparency or accountability within the centralised fiat-based system. During the time gold was used as a reserve for fiat deposits, bankers and financial institutions were in check. In order to lend, they had to prove they held a certain amount in gold reserves. When gold stopped being used as a reserve for fiat currencies, consumer credit soared. Cryptocurrencies can, once more, shift the paradigm. By imposing a decentralised, transparent, and fully-auditable system, it gives people a way to transact and store value away from country-specific currencies and policies. When a corrupt government or financial agency puts the squeeze on its citizens, there is a way to opt-out. Plus, innovators have a way to protect their inventions by endowing these networks with value that is shared by the community of users. With the rise of cryptocurrencies, new business models will be created. Hopefully, these will give users power to rule the network by distributing value through tokens to any agent interacting with the product or platform. From the many to the few Finally, what I hope cryptocurrencies achieve is to empower users. Instead of top-down solutions, business plans, ideas, management decisions, or user participation, cryptocurrencies can foster an environment for cross-project collaboration and exponential value-added user interactions. Instead of a few people owning a huge proportion of value and risk, why not share it with the community of users like Bitcoin did? A way to think about this is by comparing DAICOs and STOs. STOs, or security token offerings, are seen as the new, better form of ICOs – fully regulated and compliant. Do you think they will be the catalyst that will enable global adoption? I, personally, see little value in conducting STOs. From an investor’s point of view, what I will be joining is a limited community, closed to most of the world that cannot participate because, somehow, they do not tick one of the compliance boxes (like not being an accredited investor). If cryptocurrencies came into existence to decentralise value, what will happen when proper DAICOs, or decentralised autonomous ICOs, start to arise with milestone-based funding and community-approved goals? How can an STO compete with a global project with no boarders, managed by a community of users? That, my friend, is the true meaning of decentralisation. The post Why tokens matter appeared first on Coin Rivet .
[Random Sample of Social Media Buzz (last 60 days)]
Run like the wind $ELF, run like the wind... #crypto #cryptocurrencypic.twitter.com/CgTol8eAMf || Feb 16, 2019 17:31:00 UTC | 3,623.60$ | 3,207.70€ | 2,810.50£ | #Bitcoin #btc pic.twitter.com/smwnzr85Rd || Cotización del Bitcoin Cash: 97 90.€ | -0.31% | Kraken | 06/02/19 11:00 #BitcoinCash #Kraken #BCHEUR || #XRP
Buy at #Gobaba and sell at #Cex. Ratio: 1.00%
Buy at #Gobaba and sell at #Bitfinex. Ratio: 0.92%
Buy at #Gobaba and sell at #EXMO. Ratio: 3.18%
Buy at #Cex and sell at #EXMO. Ratio: 1.45%
#bitcoin #arbitrage #arbitraj #arbingtool
http://arbing.info || 現在の1ビットコインあたりの値段は440,935.4697円です。値段の取得日時はFeb 22, 2019 23:02:00 UTCです #bitcoin #ビットコイン || USD: 110.000
EUR: 124.330
GBP: 145.189
AUD: 77.880
NZD: 75.702
CNY: 16.389
CHF: 110.564
BTC: 437,131
ETH: 14,900
Mon Mar 25 15:00 JST || Cotización del Bitcoin Cash: 125 00.€ | -0.64% | Kraken | 22/02/19 17:00 #BitcoinCash #Kraken #BCHEUR || Hourly price update (USDT):
• BSV (Bitcoin): $64.65
Dead forks:
• BTC (Blockstream Turd Coin): $3988.00
• BCH (BTrash): $163.09 || Mar 24, 2019 04:32:00 UTC | 3,993.70$ | 3,532.20€ | 3,023.00£ | #Bitcoin #btc pic.twitter.com/EMAp7ccx7u || 02/22 12:00 のStrongHands価格（日本円）をお知らせします。
1剛力 = 0.0000079181 円 (前日比 : 4.53 パーセント)
1億剛力 = 791 円
10億剛力 = 7918 円
プロテインはこちらへ↓
【SPV4eLwzqt8arMP1QxzfJbEQndYYwyAgAq】
#StrongHands #SHND #仮想通貨 #bitcoin
|
Trend: up || Prices: 4158.18, 4879.88, 4973.02, 4922.80, 5036.68, 5059.82, 5198.90, 5289.77, 5204.96, 5324.55
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
The Crypto Daily – Movers and Shakers -20/04/20: Bitcoin fell by 1.87% on Sunday. Partially reversing a 3.17% gain from Saturday, Bitcoin ended the week up by 3.13% to $7,133.3.
It was a bearish end to the week for the crypto market. Bitcoin slid from an early morning intraday high $7,285.4 to an early afternoon intraday low $7,056.9.
Steering clear of the major resistance levels, Bitcoin fell through the first major support level at $7,096.7.
Finding support through the afternoon, however, Bitcoin recovered to $7,200 levels before easing back.
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 bearish day on Saturday.
Bitcoin Cash ABC (-4.04%), Bitcoin Cash SV (-4.81%), EOS (-4.72%), and Litecoin (-4.39%) led the way down.
Binance Coin (-3.48%), Cardano’s ADA (-3.08%), Ethereum (-3.97%), Ripple’s XRP (-3.46%), Stellar’s Lumen (-3.28%), Tezos (-3.42%), and Tron’s TRX (-3.42%) were close behind, however.
Monero’s XMR saw a more modest 1.60% loss on the day.
It was a relatively mixed week for the majors, however.
Binance Coin (+12.53%), Ethereum (+13.58%), and Tezos (+12.27%) led the way.
Cardano’s ADA (+6.35%), EOS (+4.09%), Monero’s XMR (+6.59%), and Tron’s TRX (+2.59%) trailed the front runners.
Bitcoin Cash SV (+1.33%), Litecoin (+0.67%), Stellar’s Lumen (+0.73%) also ended in the green.
Bitcoin Cash ABC ended the week flat, however, with Ripple’s XRP falling by 0.28% to buck the trend.
Through the week, the crypto total market cap rose to a week high $210.88bn on Sunday morning. A Wednesday sell-off had seen the total market cap fall to a week low $187.38bn. At the time of writing, the total market cap stood at $208.88bn.
Bitcoin’s dominance eased back from 64% levels following Thursday’s and Saturday’s broad-based crypto rallies. At the time of writing, Bitcoin’s dominance stood at 63.4%.
24-hour trading volumes rose from sub-$120bn levels to a week high $168.48bn on Thursday before easing back. At the time of writing, 24-hr volumes stood at $124.99bn.
At the time of writing, Bitcoin was up by 0.66% to $7,180.1. A mixed start to the day saw Bitcoin fall to an early morning low $7,100.0 before striking a high $7,210.2.
Bitcoin left the major support and resistance levels untested early on.
It was a bullish start to the day for the rest of the majors.
Tezos led the way early on, with a 3.28% gain.
Bitcoin would need to move through to $7,200 levels to bring the first major resistance level at $7,260.17 back into play.
Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $7,210.2.
Barring another broad-based crypto rally, the first major resistance level and Sunday’s high $7,285.4 would likely cap any upside.
In the event of a broad-based crypto rally, the second major resistance level at $7,387.03 would come into play.
Failure to move through to $7,200 levels could see Bitcoin hit reverse.
A fall through to sub-$7,150 levels would bring the first major support level at $7,031.67 into play.
Barring a crypto meltdown, however, Bitcoin should steer of sub-$7,000 levels.
Thisarticlewas originally posted on FX Empire
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• Coronavirus News and Sliding Crude Oil Prices To Test Risk Appetite || GBP/USD Daily Forecast Sterling Extends Losses After Failed Attempt at 200 DMA: The dollar is bouncing higher to start the new week as the markets have shifted to a risk-averse stance on the threat of new trade tariffs on Chinese imports from the Trump administration. Secretary of State Mike Pompeo joined US President Trump in the view that the Coronavirus originated from a lab in Wuhan China. Trump has said he will soon release a very conclusive report that will confirm the origin of the virus. The markets have reacted in a typical risk-off manner with equities lower to start the new week while the dollar and gold prices have gained. Meanwhile, the UK has ramped up efforts to ensure that small businesses will receive the support they need in the face of a slowing economy. Britains Chancellor of the Exchequer Rishi Sunak has reluctantly agreed to provide loans to small businesses that will be 100% backed by the government. This is a shift from a previous program that was 80% backed. The program, coined Bounce Back Loans, will allow small businesses to borrow a maximum of 50,000 pounds for up to six years. The first year will be interest-free while following years carry a reasonable 2.5% rate of interest. Banks will not be required to run credit checks to issue these loans. Technical Analysis GBPUSD 4-Hour Chart GBP/USD has shown strong momentum to the downside after a second failure to scale above the 200-day moving average last week. At the same time, the dollar declined with momentum last week to briefly fall to a fresh one-month low. This is a case where the greenback is showing some strength to start the new week as a result of the risk-off sentiment while last weeks bearish momentum signals more losses to come. In this context, the downside momentum in GBP/USD could be short-lived. For the session ahead, support is seen at 1.2400 while strong overhead resistance is found at 1.2493. The 20-day moving average falls at 1.2440 and where the pair closes in relation to stands to influence the near-term direction. Story continues Bottom Line GBP/USD is set to post a second day of losses, weighed by a bounce in the dollar on the back of a shift to risk aversion. There are no major economic releases for the pair today and volatility may slow unless there are further developments on the potential re-emergence of a China-US trade war. This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Price Forecast Euro Falls Towards 50 Day EMA GBP/USD Daily Forecast Sterling Extends Losses After Failed Attempt at 200 DMA USD And Gold Show Momentum as risk-off Sentiment Resumes GBP/USD Price Forecast British Pound Pulls Back to Kickoff Week US Open Risk, Earnings, Oil, Gold, Bitcoin This Market Makes No Sense || Bitcoin, Stablecoins, DeFi and Privacy: How COVID-19 Is Changing Key Crypto Narratives: How the once-in-a-generation COVID-19 pandemic is shifting the way we think and talk about different parts of the crypto industry – frombitcoin(BTC) to DeFi to stablecoins.
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.
On Jan. 28, Bloomberg’s Joe Weisenthal tweeted, “Notable overlap on here between the most alarmist people tweeting about the virus and those who are obsessed with the size of the Fed balance sheet.”
Related:Bitcoin Ends Q1 Down 10%, Outperforming Equities in Coronavirus Crisis
There is no doubt the bitcoin and crypto community broadly were far earlier in recognizing the potential significance of the COVID-19 crisis than most professional communities. Today, America preps for at least another month of lockdown and social distancing. The markets continue their chaotic swing as investors are simply unable to price in such a once-in-a-lifetime event.
A question for the crypto community becomes: How is this impacting narratives about our own industry?
See also:Why the US’ $2 Trillion Stimulus, Unlimited QE Will Expose the Monetary System’s Flaws
In this episode, @NLW looks at the impact of the COVID-19 crisis on narratives around:
• Bitcoin
• Stablecoins
• Digital Dollars and Central Bank Digital Currencies
• DeFi
• Privacy
Related:Crypto-Powered Internet Helps Rural Residents Work From Home During Coronavirus
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.
• Nic Carter: ‘If You’re Not Radicalized, You’re Not Paying Attention’
• Remote Working Proves Unexpected Hero as Half of US Economy Shifts to Home Offices || Latest Ethereum price and analysis (ETH to USD): Ethereum seems to be setting itself up for a rally to the upside after printing an exponential moving average golden cross on the daily chart. The bullish posture of the world’s second largest cryptocurrency comes after the highly-anticipated Bitcoin halving event, which came into fruition yesterday evening. Another positive aspect of Ethereum’s recent price action was the bounce from the $177 level of support, which paved the way to a seven percent rally to $190. Over the next few days Ethereum will likely begin to trend back towards the psychological $200 level of resistance at which stage the impact of the golden cross may come into effect. The previous golden cross came during the surge in price at the start of the year and preceded a 29.44% move to the upside before it made a local high of $291. From a bearish standpoint Ethereum could be scrutinised for failing to break out above $219 during last week’s rally, although the sell-off has been attributed to investors liquidating Bitcoin positions ahead of the halving. If ETH begins to trade below $177 it would be a cause for concern, a break below would see it fall to as low as $151 before it gets a chance to consolidate. 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: 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. || How MakerDAO’s Stablecoin Survived the Crash, Smart Contract Bugs and Full Decentralization: The best Sundays are for long reads and deep conversations. Last week the Let’s Talk Bitcoin! Show gathered to discuss how the MakerDAO DeFi stablecoin actually works and what happened during the sudden, precipitous drop in crypto prices earlier this month. Listen/subscribe to the CoinDesk Podcast feed for unique perspectives and fresh daily insight with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , IHeartRadio or RSS . In the aftermath of the so-called “Black Thursday” crash from several weeks ago, MakerDAO’s “DAI” ethereum-backed dollar-pegged stablecoin came untethered and was, for a time at least, functionally insolvent. In the aftermath, holders of the MKR token, which allows holders to participate in governance decisions opted to do a couple of things, including adding the centralized stablecoin USDC to the list of acceptable collateral, which drew both condemnations mostly around centralized risk being added to the system and praise for making the system more robust against sudden ETH collateral price crashes. Related: USD Stablecoins Are Surging, but Zero Interest Rates Complicate Business Model And now most recently, the Maker Foundation, which had held some centralized control over the protocol completed their long-planned exit with all authorities now transferred to the holders of MKR tokens, removing both a point of control that had been used as a safety check and a point of risk in that centralized control can be co-opted and used to disrupt a system as we’ve seen in other examples. On today’s show we’re digging into: What is Decentralized Finance (DeFi)? How does decentralized finance differ from traditional banking? Fractional reserve versus over-collateralized loans Liberty Dollars’s missing collateral and USDC’s risky name MakerDAO, DAI dollar-pegged stablecoins and how this DeFi stablecoin actually works SDAI (Single Collateral DAI) vs. DAI (Multi Collateral DAI) Smart contract “vaults” Lending money to yourself: 150 percent, 300 percent, insurance and auctions What happened on “Black Thursday” as the price of ether dropped more than 50 percent What happened when transaction fees went through the roof A bug in the collateral auction smart contract A surprising crash: As the system became functionally insolvent the price of the dollar-pegged stablecoin actually went up Oasis.app vaults are transparent and pretty interesting, take a look ! Loaning yourself money using your ether (at interest) How MakerDAO’s approach differs from SALT Lending The other half of the DAI system: saving vault smart contracts DAI Saving Rate (DSR) and the new certificate of deposit The reward for using MKR tokens to administer a good system Can savings vaults be liquidated? Smart contract risks, consensus risks, systemic risks and response time risks Sponsors: eToro.com and Purse.io What specifically went wrong with the auction smart contracts? Recapitalizing the system by diluting MKR governance stakeholders Even with bugs, market mechanisms to fill the solvency hole seemed to work better than government bailout equivalents Completing the transition from foundation-overseen to full tokenized governance Decentralization transition – A necessary step or a natural one? Single-collateral vs. Multi-collateral stablecoins Why would a decentralized stablecoin want to allow a centralized stablecoin for collateral? External political risks vs. internal technological risks “Life finds a way” and DeFi’s natural circuit breakers (also Mt. Gox) Whats the point of putting USDC in to get DAI out? How does DeFi stablecoin insurance work? A modular ecosystem How DeFi and traditional finance are similar DeFi vs. 2nd layer protocols Story continues See also: Bailouts, Bitcoin, Disruption, Failures and Hope Credits Related: Disruption, Money and a World of Change, Feat. Niall Ferguson Hosts: Adam B. Levine, Andreas M. Antonopoulos, Jonathan Mohan & Stephanie Murphy Sponsors: eToro.com and Purse.io Music: Jared Rubens and GurtyBeats Editing: Jonas Listen/subscribe to the CoinDesk Podcast feed for unique perspectives and fresh daily insight with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , IHeartRadio or RSS . Related Stories Corporate Socialism to Dying for the Dow: 7 Themes That Defined the Week Bitcoin News Roundup for March 27, 2020 || Lightning Network Messaging, Political Expediency and What Crisis Has Revealed: In a time of increasing censorship aimed towards protecting us, is truly private messaging possible? Why are we using “data-driven” approaches when we know the data is wrong? Lightning Network messaging protocol Juggernaut’s John Cantrell and HRF’s Alex Gladstein help us see what the crisis has revealed. Listen/subscribe to the CoinDesk Podcast feed for unique perspectives and fresh daily insight with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , IHeartRadio or RSS . On today’s show, we’ve got a pair of interviews for you. First, we speak with John Cantrell , the author of Juggernaut , a new Layer 3 messaging application being built on top of the Layer 2 Lightning Network, which is itself built on top of Layer 1 Bitcoin. It’s a lot of layers, but as a technological concept currently in beta Juggernaut could be a fascinating project, and we talk about it. ( Juggernaut on GitHub .) Related: Bitcoin vs. QE Infinity: The 4 Archetypes of the Halving Debate See also: Bitcoin Messenger Explores Censorship Resistance During Coronavirus Crisis After the break, we’re joined again by Alex Gladstein of HRF.org for a discussion on political expediency in the age of pandemic and what crisis has revealed about various governments, and different types of governments around the world. Alex is one of my favorite returning guests, with his global human rights-focused work taking him to some of the most interesting and most oppressed places around the world. “What’s interesting is that citizen journalists I know in Taiwan have pressed the government on this and they’ve gone to parliament and it’s all on record, and they’ve said, ‘Have these … digital contact tracing or cell phone surveillance things been useful?’ And the governments said, ‘Only in one case. … Only in one case was this sort of mass surveillance approach been useful.’ So they’ve actually been honest with the people. … But at the end of the day, it does teach us that even the most progressive governments are going to be lured by the sirens’ call of using surveillance to tackle problems.” – Alex Gladstein , chief strategy officer, HRF.org Story continues This episode of Let’s Talk Bitcoin is sponsored by eToro.com and features content from John Cantrell, Alex Gladstein and Adam B. Levine. Today’s show features music by Jared Rubens and Gurty Beats with editing by Jonas. Album Art original photo by Goh Rhy Yan on Unsplash . Related: Bitcoin News Roundup for April 27, 2020 Listen/subscribe to the CoinDesk Podcast feed for unique perspectives and fresh daily insight with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , IHeartRadio or RSS . Related Stories CoinDesk Live: 2019’s Most Catastrophic Crypto Caper Bitcoin Halving 2020: The ‘Arms Race’ for Miner Efficiency Intensifies || Bitcoin Dips Below 6,772.2 Level, Down 0.77%: Investing.com - Bitcoin fell bellow the $6,772.2 level on Saturday. Bitcoin was trading at 6,772.2 by 13:29 (17:29 GMT) on the Investing.com Index, down 0.77% on the day. It was the largest one-day percentage loss since April 2.
The move downwards pushed Bitcoin's market cap down to $124.2B, 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 $6,679.1 to $6,888.3 in the previous twenty-four hours.
Over the past seven days, Bitcoin has seen a rise in value, as it gained 8.7%. The volume of Bitcoin traded in the twenty-four hours to time of writing was $32.0B or 0.00% of the total volume of all cryptocurrencies. It has traded in a range of $5,872.5044 to $7,182.7227 in the past 7 days.
At its current price, Bitcoin is still down 65.92% from its all-time high of $19,870.62 set on December 17, 2017.
Ethereum was last at $143.22 on the Investing.com Index, up 1.61% on the day.
XRP was trading at $0.18023 on the Investing.com Index, a gain of 1.49%.
Ethereum's market cap was last at $15.9B or 0.00% of the total cryptocurrency market cap, while XRP's market cap totaled $8.0B or 0.00% of the total cryptocurrency market value.
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Cardano Dips Below 0.032130 Level, Down 0.19% || New Era in Cryptocurrency Mining during Coronavirus: COPENHAGEN, DENMARK / ACCESSWIRE / April 7, 2020 / As the coronavirus outbreak continues to cause havoc across the globe, the world of crypto mining is quietly experiencing a revolution. BitHull S.A ( www.BitHull.com ), a technology company, has recently introduced two crypto miners that have created a new lease of life for mining enthusiasts locked up in home quarantine. Built around the latest Field Programmable Gate Array or FPGA technology, the products create an unprecedented profit earning potential for the newbies as well as crypto mining experts. Both the multi-algorithm miners from BitHull can be used for mining Bitcoin, Litecoin, Ethereum, and Monero. BH Miner is the basic product from the company with a moderate power consumption of 550W. BH Miners Box, on the other hand, is a combination of six BH Miner units connected to each other. The units generate very low noise, and hence, can be used at home or any other place. Hash Rate : BH Miner: 360 TH/s, 60 GH/s, 15 GH/s, and 3 MH/s for Bitcoin, Litecoin, Ethereum, and Monero respectively. BH Miners Box: 2160 TH/s, 360 GH/s, 90 GH/s, and 18 MH/s for Bitcoin, Litecoin, Ethereum, and Monero respectively. Profit and Power Consumption (BH Miners Box): Bitcoin: $7951.95 profit per month Litecoin: $18.64k profit per month Ethereum: $25.78k profit per month Monero: $29.06k profit per month The power cost is $285 per month and the calculations were made based on the cost of $0.12/kWh. BitHull recommends all its customers to verify the above details in real time using a reliable online calculator. Regardless of any price fluctuation or mining difficulty changes, both products will remain profitable. "Today, empowering individuals with home-based income opportunities is imperative," said Matias Milet, Vice President of BitHull S.A. "We are proud to address the need of the hour with our miners that bring super-fast return on investment and huge profits." For more details, please visit https://www.bithull.com/ Story continues About BitHull: BitHull S.A. is a technology company dedicated to developing next-generation hardware for cryptocurrency mining. The company is run by a team of experts with a track record of delivering world-class tech components such as FPGA chips to numerous industry heavyweights. Media contact Matias Milet [email protected] +4565742479 SOURCE: BitHull S.A. View source version on accesswire.com: https://www.accesswire.com/584242/New-Era-in-Cryptocurrency-Mining-during-Coronavirus || Bitcoin mining firm VBit raises $1.1 million to open a new facility in Canada: Bitcoin mining firm VBit DC has raised $1.1 million in a seed funding round, which was led by angel investment fund Golden Age. Announcing the news on Tuesday, VBit said it would use the fresh capital to set up a 200 MW (megawatt) bitcoin mining center in Alberta, Canada. The size of the center and access to inexpensive electricity will allow VBit DC to offer its customers increased mining efficiency and considerably better ROI [return on investment] than was previously possible, said the firm. VBit DC is a subsidiary of Philadelphia-based VBit Technologies, which offers mining packages to the general public since 2018. The firm claims to have helped around 3,000 customers earn passive income via mining. VBit said its user base is seeing exponential growth month-over-month across countries. "We expect more people to join us as our new data center will make a change out there in terms of accessibility and clarity of ROI, said Danh Vo, founder and CEO of VBit Technologies. The news comes just days before the bitcoin halving , which will see the mining reward cut from 12.5 BTC to 6.25 BTC. The halving is expected to occur next week on May 12. © 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. View comments || 3 “Strong Buy” Healthcare Stocks That Could Double in the Next Year: Out on Wall Street, stocks were able to pull out a major win. Despite being a more volatile week of trading, the three major U.S. stock indexes were each able to notch a more than 3% weekly-gain, with the Dow Jones exhibiting its best weekly performance since April 9. The surge came as investors applauded progress related to a COVID-19 vaccine and the reopening of the U.S. economy.
Against this backdrop, investor focus has locked in on one area of the market in particular: the healthcare sector. Amid the COVID-19 pandemic, the space has held up strong, broadly outperforming the rest of the market. Not to mention return-minded investors tend to flock to these names thanks to the possibility of sky-high rewards.
What’s the secret to their huge return potential? The nature of the industry itself. Many healthcare companies only rely on a few key indicators such as study results or regulatory approvals to determine if there’s a clear path forward, and thus, a single piece of good news can launch it on an upward trajectory. However, the opposite also holds true, so these tickers are notoriously risky.
Understanding the volatile nature of the industry, we usedTipRanks’ databaseto pinpoint compelling plays within the healthcare space. The platform helped us track down three that have received overwhelmingly bullish support from analysts, enough to earn a “Strong Buy” consensus rating. The cherry on top? Each could double in the twelve months ahead.
NuCana PLC (NCNA)
Using its ProTide technology to turn some of the most widely prescribed chemotherapy agents, nucleoside analogs, into more effective and safer medicines, NuCana hopes to improve treatment outcomes for cancer patients. With the company gearing up for a jam-packed year of potential catalysts, several members of the Street believe that now is the time to snap up shares.
At the beginning of May, NCNA announced that it had restarted enrollment for its Phase 3 NuTide:121 trial, which is examining Acelarin and cisplatin in front-line biliary tract cancer (BTC) patients. Weighing in on the good news for H.C. Wainwright is five-star analystRobert Burns. He reminds clients that the initial data from the Phase 1 ABC-08 front-line locally advanced or metastatic BTC trial, which was presented at ASCO 2019, demonstrated that within the intent-to-treat (ITT) population, the therapy produced a 50% unconfirmed objective response rate (ORR) and 7% complete response (CR) rate.
“We believe this compares favorably to results that Valle and colleagues presented in their 2010 New England Journal of Medicine paper examining gemcitabine plus cisplatin (n=204) in a front-line BTC Phase 3 trial,” Burns commented. As a result, he thinks data from the trial could fuel significant upside.
If that wasn’t enough, a few weeks later, NCNA revealed that enrollment for the Phase 1 and Phase 1b trials of its NUC-3373 candidate in metastatic colorectal cancer (mCRC) and in advanced solid tumors, respectively, were resumed. Enrollment for the Phase 1 NuTide:701 trial evaluating NUC-7738 in patients with advanced solid tumors also kicked off again. Early data from these trials is slated for release later this year.
Burns points out that there are several other key catalysts on the horizon including the readout of data from the Phase 1b ABC-08 trial of Aclearin and cisplatin in first-line BTC, an update regarding the enrollment status for the Phase 3 trial of Acelarin and gemcitabine in first-line BTC as well as the initiation of a Phase 2/3 trial of NUC-3373 in conjunction with other agents in mCRC.
Based on all of the above, Burns stayed with the bulls. Along with a Buy rating, the $16 price target remains unchanged. Should this target be met, a twelve-month gain of 173% could be in store. (To watch Burns’ track record,click here)
Do other analysts agree with Burns? As it turns out, they do. With 100% Street support, or 3 Buy ratings to be exact, the message is clear: NCNA is a Strong Buy. At $16, the average price target matches Burns’. (See NuCana stock analysis on TipRanks)
Celyad (CYAD)
Moving right along, we come across Celyad, which is developing innovative CAR-T NK cell-based immunotherapies that could potentially treat cancer. As the second half of 2020 will feature major catalysts, it’s no wonder the analyst community is excited about this name.
In the near-term, Celyad will present updated data from the Phase I alloSHRINK study of CYAD-101, its therapy designed as a treatment for mCRC, at the virtual ASCO conference on May 29 through 31. Using non-gene editing technology, the therapy has already shown anti-tumor activity in two out of twelve patients with a partial response and five patients with stable disease with a minimum of three months of duration.
Representing H.C. Wainwright, five-star analystEdward Whiteis optimistic that the outcome will be favorable. He explained, “To date, CYAD-101 alloSHRINK has not demonstrated clinical evidence of GvHD or dose limiting toxicities.”
Looking forward, CYAD will read out preliminary data from the Phase 1 THINK trial involving its candidate, CYAD-01, a CAR-T that uses natural killer cell specificity to target T-cells against a broad range of tumors, without preconditioning in patients with r/r AML and MDS, and the DEPLETHINK trial utilizing preconditioning with Cy/Flu. Both of these trials use the OptimAb manufacturing process, but White points out that the company will decide which protocol to proceed with based on the data.
Some investors expressed concern after COVID-19 forced the company to push back the previously expected timing for the THINK and DEPLETHINK trial readouts, but White was unphased by the delay. “THINK data presented at the American Society of Hematology (ASH) Annual Meeting 2019 showed that 53% (8/15) of evaluable patients demonstrated anti-leukemic activity with bone marrow blasts decrease, including five patients with objective responses and one patient with stable disease (SD) for at least three months,” he stated. The analyst added, “No objective responses had been shown at the time of presentation, but safety data demonstrated that CYAD-01 manufactured with OptimAb was well tolerated following preconditioning chemotherapy.”
With a decision on which protocol CYAD will pursue expected by year end 2020, the deal is sealed for White. In addition to reiterating his Buy recommendation, he kept the $37 price target as is. This target conveys his confidence in CYAD’s ability to soar 339% in the next year. (To watch White’s track record,click here)
All in all, other analysts echo White’s sentiment. 4 Buys and no Holds or Sells add up to a Strong Buy consensus rating. Based on the $27.33 average price target, the upside potential comes in at 224%. (See Celyad stock analysis on TipRanks)
IDEAYA Biosciences Inc. (IDYA)
Last but not least we have IDEAYA, which is developing targeted oncology drugs including the PKC inhibitor, IDE196, for the treatment of metastatic uveal melanoma (MUM) as well as a portfolio of synthetic lethality drug candidates. On the heels of the acceptance of four abstracts for presentation at the American Association for Cancer Research (AACR) Virtual Annual Meeting II, which will be held on June 22-24, many Wall Street analysts have been impressed.
Among the bulls is Oppenheimer’sKevin DeGeeter. He tells investors that he sees two abstracts as being especially promising as both have the potential “to inform clinical studies to start within the next twelve months.” Specifically looking at abstract 1956, “In vitro and in vivo characterization of novel MAT2A allosteric inhibitors”, the five-star analyst believes it is a “placeholder and most likely potential source of upside for IDYA shares.”
DeGeeter added, “Specifically, we are cautiously optimistic abstract 1956 may more fully describe the cellular anti-proliferation activity and PK profile from a scaffold of IDYA's lead synthetic lethality program, a small molecule allosteric inhibitor of MAT2A... If management opts to disclose cellular anti-proliferation activity or cellular SAM modulation data. In the absence of efficacy data, we would view clean liver tox profile as a material finding.”
In addition, DeGeeter pointed out, “Our investment thesis for shares of IDYA is based in large measure on the potential of the company’s broad pipeline of synthetic lethality programs.” As a result, he argues that the selection of a development candidate for lead synthetic lethality program, MAT2A, which is slated for Q2 2020, and the IND filing expected in Q4 2020, represent key catalysts. He also thinks AACR is a “logical” timeframe to confirm selection. It should be noted previous studies have demonstrated that MAT2A regulates PMRT5 expression.
To top it all off, DeGeeter believes abstract 5337 will provide more clarity regarding the magnitude of a potential synergy of IDE196 with a MEK inhibitor. The results could help IDYA select patients for a basket study of IDE196.
To this end, DeGeeter left an Outperform rating and $17 price target on the stock. Given this target, shares could skyrocket 143% in the next twelve months. (To watch DeGeeter’s track record,click here)
Turning now to the rest of the Street, other analysts also like what they’re seeing. 3 Buys and no Holds or Sells have been assigned in the last three months, making the consensus rating a Strong Buy. While less aggressive than DeGeeter’s, the $15 average price target still leaves room for 115% upside potential. (See IDEAYA stock analysis on TipRanks)
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